The Success Of Bitcoin Is You | bitcoin success

Bitcoin has been rising from USA to China to Pakistan. People are now beginning to realize its potential. Bitcoin is predicted to become a reserve currency(7th) by 2030 if the current trends continue. However I view bitcoin as the one and only true reserve currency. We have to understand that bitcoin is the only one of its kind from the other list of fiat dominated currencies that can truly be accepted anywhere and by anyone for anything. These options are further developed with the advent of OpenBaazar type services also.

Realization of the potential of a free economy has seen price of bitcoin rise steadily. in addition to this we now see the companies like steam even starting to accept bitcoin. For 3rd world countries its an even better opportunity as capital controls and strict banking requirements make it difficult to have access to proper credit card or debit card services. It makes it easier for people to use bitcoin as a sort of a prepaid system of making payments.

Today Japan is debating on accepting bitcoin as a proper currency which can be a huge step and a leg up on the competition. Bitcoin has caused a rise in the fintech revolution and no country wants to really ban it. They realize that the potential is there and they see that is bound to happen. How long will it take for true realizing is only a matter of time.

The Ripple Effect – XRP | Ripple, XRP

When I got into bitcoin and started getting deeper into why its so important. I met by Partner and we would and still do have heated discussions on the importance of crypto currencies or altcoins as we would like to call them. I am more of a one currency for the world type of fan, where as my partner is more into blockchain its developments and derivatives. It brings into aspect how much we love what we do and it keeps us both on our toes to understand the eco system that is building around us. Its fun to be able to just sit daily and talk about the possibilities that come forth because we both are crypto enthusiasts in general.

We often discuses how one coin maybe better then the other or not. The pros and cons while I am looking to it from general business stand point, he looks at it more towards possible potential of the design that the coin follows. We both might be wrong but it does bring out interesting arguments. One such argument when we met early was on altcoins such as dashcoin, doge and litecoin where I pointed out (this was back in 2014) that xrp or ripple will eventually become the second largest currency and give bitcoin a run for its money. While I still believe that btc is here to stay as xrp is now becoming the poster child for closed source coins with stellar also created by the co-founder of ripple is in close for second. From finance stand point of view it was obvious back then that when the banks start realizing bitcoin and its truly remarkable concept they will opt to fight it and at the heart of that xrp or ripple will emerge, as not only will it the closed source the banks will be able to control the infrastructure while still keeping tap on whats happening.

Today we see 10 of the largest 50 banks of the world in support of xrp and recently published news that Standard Chartered is testing it, right after western union news that they were also testing ripple to bring credibility to it.

I am still of the view that bitcoin will lead the way since it was presented as a decentralized distributed ledger to the world which could only be controlled on consensus rather then an entity, xrp will be used more as a poster child to replace the old technology that is running at the hearts of the banks called “swift” and outdated systems.

How to be a Bitlander | bitlanders



Bitlanders is a social platform similar to facebook. We have written about it before and how to earn bitcoins through it. I will try to cover that in roman urdu for people to read here while also adding videos on it so you guys can learn about it and how to use it.

Yahan I have made a series of 5 videos jin may bitlanders ko use kernay ka tarkea hay.

Video one may urdubit ki malommat hain jahan say app apnay bitcoin ko pkr may convert kerwa saktay hain lakin yeh bhot baad ki stage hay. Is pay abhee register nahee karain kion kay bitlanders say app ko minimum 0.0251 btc chaiya takay app un ko withdraw kerwa sakay

Video Part 1

Video Part 2

Video Part 3

Video Part 4


Video Part 5

This is the last video that I will cover in this and it is how to withdraw btc to payza I will cover payza in more detail on a different post with how to withdraw from there. Before bitlanders would give you bitcoins directly now you have to use payza.

Withdraw From Bitlanders

Bitlanders has shifted to bitmiles which can be cashed out via payza then from payza you have to select bitcoin withdrawal.
From here on I will cover more sites that pay out in bitcoins. Please note karain kay in may say koi bhee site hamari nahee hay. May nay sirf isliya post ker raha hoon takay app khud in say earning ker sakay. Aik aur cheez I think bitlanders bitcoins may payments khatam ker raha hay.

 

 

Where The Banks Got It Wrong | Bank Bitcoin

In 2015 we saw numerous banks turning to blockchain the underlining technology of bitcoin to drive customer base away from btc and improve their own system in the process. An example was laid out where it was stated that Bank Of America alone uses more electricity then the entire bitcoin network combined. It was popular believe that the “beauty of bitcoin lies in blockchain”, I for one was sold on this. But the more you understand bitcoin the more you realize thats not the case, and the more you fall in love with the whole concept of bitcoin.

Many might disagree with me on this statement. While I am not saying that blockchain and bitcoin are revolutionary, all I am saying is that its not just the tech that makes bitcoin or btc special, its the underlining principle of the bitcoin that makes it the most disruptive tech in the fintech space.

The idea as purposed by satoshi nakamoto was loosely based on on torrent software where you would share your bitcoin via peer to peer system where you would not require central auditing or confirming authority. Now lets think about this for a minute. Decentralization and the open source nature of bitcoin is what make it so special. An  example is the recent development disagreement by the core developers where 2 developers purposed a fork of bitcoin XT. That saw the prices of bitcoin plunge to lows of around $150. While many thought that proposal was destroying bitcoin, I believed it was making btc stronger by displaying that no one has control over bitcoin. In the end it will be the people who will decide what is good for the network and not any one entity.

The banking sector was of the belief that its the blockchain tech that drives bitcoin, and without understanding the true nature of why decentralization is important they jumped on the blockchain wagon releasing their own chains and coins in the process. I think bitcoin and banks can live in harmony, how you may ask is very hard to answer. For one I think banks can use bitcoin as a settlement product within their networks. Think of bitcoin as Mastercard or Visacard. When the concept was brought forward banks went a head started incorporating these into their systems rather then coming up with their own individual cards. There is alot to cover of how btc and bank can live in peace then this one article, but the idea can be be implemented in ways that banks haven’t imagined yet. I think time will only improve our understanding of what bitcoin is and how it will shape the future of fintech.

Earn A Little – Online Earnings | earn bitcoin online

Idea of online earning is not an old one. We have seen many websites launched that are now selling “adpacks” or “advertisement upgrades” promising you to earn by working online. While there are many of these that make you invest upfront there are few that are completely free. The reason I wanted to write about this is because many people call us and ask how do we make money online.

Earning online, or earning bitcoin or btc is not a simple task. I tell people you have to work hard and the best way to earn especially bitcoins in Pakistan is to go to sites like fiver or my personal favorite xbtfreelancer (well they pay in bitcoin ;)) is the way to go. These are freelancing websites that offer you payments for your skills. Pakistan is now the 3rd largest freelancing producer in the world. And with recent news coming out about how freelancers are working to earn online in Pakistan the standings will only improve while providing job opportunities.

To add to this I have seen many people who do not have the skill set to work on these sites or find it very hard to compete against the set players in the field. For the later (while I dont promote these often I am telling people about this so they can give them a try) I suggest looking to something called ads viewing or clicking. These websites are pretty straight forward all you have to do is signup click on view ads or my advertisements and just click on ads and watch the ad for a few seconds. The ad window should be active for getting credited for the ad. These sites pay in multitude of payment methods with bitcoin being one of them. I would strongly suggest against buying any sort of upgrades etc from these websites and I dont run any of them. I have just been testing out a few sites such as ads4btc (video)and adfiver. You can also go on something like ifaucet and earn through faucets.

Please take note that I dont own or know about these websites. But I am testing these out just to let people know if they actually payout. I also recommend that dont buy and upgrades from these sites instead there are many sites offering this free and you can simply signup on multiple sites rather then buying adpacks or upgrades etc.

Use Bitcoin Dont Abuse. | bitcoin, what is bitcoin, bitcoin pakistan, bitcoin in pakistan


Most people get into bitcoin due to making a quick buck by mining. Once they do however get in they realize that the beauty of bitcoin lies in its theory of what Satoshi Nakamoto presented. The idea was decentralization of digital assets or money or currency. While recently everyone is talking about the technology that is blockchain they fail to realize that its not the blockchain or bitcoin itself that made it famous, it was the underlining principle that your funds should really mean that they belong to you.

Fast forward today and we see most people trying to setup mining farms or make it big by trading bitcoin and crypto currencies. While I believe that bitcoin exchanges have made a big impact and are helping it move forward and making it available for the masses, we still tend to lag in actually utilizing bitcoin the way it was intended. Bitcoin was suppose to bridge the gap between third party holding your funds and charging you for utilizing them to a complete peer to peer system. I believe if we are to move forward it is very important to utilize bitcoins for buying and selling and creating opportunity to use bitcoins everywhere.

Now the question comes to mind is what I can do other then store it for value or use them as a safe guard against what recently happened in Greece? Well you can do alot now. Big name companies have begun to accept bitcoins as a payments. The reason behind this is simple its cheaper to accept bitcoins then credit cards, with no chargeback issues plus a low fee of 0.0001 btc it makes sense for people to accept and pay in bitcoins. Services such as Dell, Microsoft, Vultr(a VPS service),  namescheap(domain and hosting services), expedia(hotel, ariline and local transport), cheapair(airline tickets) and topup24 (buy mobile prepaid credit) makes it easy for anyone around the world to utilize bitcoins.

Sitting in Pakistan where credit card acceptance may be one of the lowest in the world we see bitcoins as gateway. The general population of Pakistan is below poverty level and hence doesnt really have access to the international gateways like most countries do. Bitcoin can be a bright light at the end of the tunnel, donations, payments, remittance can be utilized to the micro level bitcoins. And now you also have a place to utilize your bitcoins not just trade them at trading exchanges. But if you are just old fashioned and still want to trade bitcoins for profit you can always join us at Urdubit.

On ending note, Start using bitcoins like they were meant to 😉

BitCoin! A new way to pay and get paid. | bitcoins, bitcoin, paypal, btc, xbt, nyxbt

What is Bitcoin?When people say “Bitcoin” they are referring to one of two things.

1.       A digital/crypto currency.
2.       A payment system used for sending and receiving money online.

Bitcoin as a Currency Bitcoin is a digital, decentralized, peer to peer, pseudonymous currency based on cryptography. If that sentence made no sense to you, don’t worry  – I’ll break it down for you.
·         Digital – Bitcoins exist only as code, they do not exist as anything physical. People can (and have) made physical representations of Bitcoin, but ultimately they are based in the digital world.
·         Decentralized – There is no central bank or institution that issues or controls Bitcoin. It is a group of individuals all over the world who run the program that keeps the monetary system running.
·         Peer to Peer – You control your own Bitcoin, and when you send Bitcoin to someone else, it goes directly to them. There are no banks or middlemen.
·         Pseudonymous – While all Bitcoin transactions are publicly view-able in an open ledger called the Blockchain (we’ll get to that later), the sender and receiver are only known as a string of numbers and letters. If you’re careful about your identity, using Bitcoins can be done anonymously.
·         Based on Cryptography – The strength of Bitcoin as a digital currency lies in the code, which uses strong cryptography to ensure that the coins cannot be accessed without proper permission. Bitcoin is the first digital currency that has these characteristics, and as a result it is the first digital currency to become widely adopted on the internet. As of June 2013, it is handling nearly 60,000 transactions each day, and this number is accelerating quickly.

 

Why Use Bitcoin in Pakistan:

Bitcoin is Big news for Internationale buyers and sellers. It is no secret to Bitcoin users that digital currency makes PayPal’s model of online transaction look somewhat archaic by comparison. While the method was the darling of the online community in years gone by, the rapid advance of Bitcoin in particular has caused PayPal to come increasingly under the spotlight recently.

10. Lower Fees

This is usually the first advantage of cryptocurrencies that you hear from Bitcoin enthusiasts and experts. And this is certainly true as PayPal has been notorious for imposing hefty transaction fees on users of about 3%.

9. Community Support

You can also think of Bitcoin like an app on the Bitcoin network. This means that the protocol, add-ons, and supporting infrastructure can always be further developed and improved to suit the needs of consumers and all users.

PayPal was not constructed with this in mind and has a considerably narrower potential field of operation. In other words, while PayPal can certainly afford to pay its own team of talented programmers, it still will not be able to innovate at the same rate as a decentralized network of developers spread across the entire world.

Truly Global

PayPal is not available in every country with notable exceptions being Iran, Afghanistan, North Korea, and Haiti.

Bitcoin on the other hand is the first true transnational currency because it is border-agnostic like the Internet. In other words, it can be controlled to an extent on a very local level but cannot be shut down globally unless electricity is shut off everywhere in the world.

Unlike PayPal, Bitcoin can offer citizens living under oppressive regime a way out. People using this border-less currency can circumvent state supported financial monopolies and establish their own local economies.

Less Friction



With Bitcoin, it doesn’t matter whether you send 1 cent or 1 billion’s worth, the transactions fee is the same (approx. US$0.02) or btc 0.0001. And since it’s actually your money, it is only logical that you should decide on the amount you want to send.

Decentralized

The decentralized nature of Bitcoin means that there is no single clearing house monitoring and controlling the network. This ‘trust-less’ payment system greatly increases the security of a network as there is no single point of failure such as from a DNS attack, for example.

Versatile

To use PayPal, you must be online and have a credit card. In contrast, Bitcoin can be sent offline via email or even SMS on a Nokia dumb-phone.

Privacy

While Bitcoin is not truly anonymous, it can still provide a certain level of anonymity or pseudo-anonymity for users if they know how to cover their tracks and manage their digital wallets – a process that is expected to become more user-friendly with time. Additionally when using bitcoin you can pay directly to the receiver without providing any data hence safe guarding you towards future hacks on the site that you are paying.

In contrast, this is impossible for PayPal users as they are required go through the burdensome process of filling out long forms to prove where the money came from and what it will be used for. This is particularly true for international users.

Freedom

This is the overall most important point that cannot be stressed enough. Bitcoin lowers the barriers for all to participate in global commerce.

While this may seem trivial at first, consider that almost 2.5 billion people on this planet do not have bank accounts and thus, cannot use PayPal. Bitcoin has the potential to finally bring almost half of the world that is unbanked into the global economy, which can then be truly called Global.

Indeed, with Bitcoin, a local farmer in Tanzania can receive bitcoins on his mobile phone with the nearest bank or western union location being a hundred miles away. He is also able to send payments and be an active participant in the global economy. The same holds true for Pakistan. The masses have seen the success in high cost money transmitters such as easypaisa, mobicash, ubl omni or upaisa etc. Bitcoin can be the source of a cheaper solution to all if accepted by masses.

Thus, Bitcoin enables true globalization that is inherently inclusive and egalitarian, although how this technology is implemented is ultimately up to us – the users.

With New Tax Proposition Bitcoin becomes more important in Pakistan. | Mr 0.6%, Isac Daar, Bank, tax on bank transactions, banking, bitcoin, litecoin, dogecoin, bitcoin in pakistan, pakistan, btc in pakistan, pakistan btc, bill payments, pay bills online,

With the problems and corruption in Pakistan going uncontrolled. The govt is trying to tax each and every bank transaction. There are alot of problems with current tax laws in Pakistan of which I am not going to get into much details. But bear in mind that each and every Pakistani is taxed through Cellphone home phones, electric bills, tv bills, gas bills etc. Most of this sector which is below the poverty line doesn’t even know that they are the ones that are suppose to receive a refunds. This in return causes the richer to get richer and divert taxes while the poor get poorer. With recommendations of the new tax law if implemented every banking transaction in Pakistan will be taxed hence causing more burden to existing taxpayers and causing double taxation. While this could be avoided if our systems worked properly then this wouldn’t be a problem but the returns are hardly paid and have to go through alot of problems before you actually receive the payments. This may even propel the use of Bitcoin In Pakistan.

As mentioned before btc or bitcoin is a peer to peer system that works like utorrent and hence is equivalent to digital cash. While the leading world countries are now starting to accept this crypto currency and realize its existence (now evident by the acceptance of big players such as Paypal, Microsoft, Expedia, Namescheap, Goldman Sachs and entities such as NYSE) Pakistan still remains far behind. But with the law as proposed by Mr Isaq Daar it may cause people to look for alternate ways to transact with one another in order to avoid this hefty tax. Bitcoin/btc/xbt maybe the answer here and propel people to actually start storing money in bitcoin. It is now clear that Pakistan is a growing economy in the bitcoin era as Urdubit trade volumes have reached 3 btc avg daily. Paybill which is still very new and still building has seen an increase in mobile topups. Paybill has been designed for payment of bills in Pakistan.

I do hope that this tax is not implemented, but at the same time this does show us how important a true p2p currency is. The fact that all the funds of any person in any country can be blocked or controlled by any sort of external force at will can just call shivers. I leave the readers of this blog to comment and share your thoughts on this.