CJ - Bitcoin Specialist
Bitcoin's initial purpose was to be a new circulating currency that could replace fiat, but this idea was overshadowed by the narrative of a fixed supply that gave rise to the stored value theory. While critics have often pointed out that Bitcoin has failed to live up to its initial purpose as a medium of exchange, supporters have remained hopeful that it would eventually fulfil this role. And on December 27, 2017, the Lightning Network made its first transaction on the Bitcoin mainnet, providing a solution to Bitcoin's scalability problem and empowering it to live up to its true purpose.
The Lightning Network (LN) is a Layer-2 solution for the Bitcoin (BTC) blockchain that promises to unshackle the chains of scalability that have held Bitcoin back from achieving its full potential as a widely adopted medium of exchange. With the blockchain trilemma of decentralization, security, and scalability, Bitcoin had to compromise on the last one in favour of the other two. The LN was designed to address this scalability problem and give Bitcoin the capability to process thousands of transactions per second, making it a viable payment system.
Despite facing some challenges, the Lightning Network has the potential to become a game-changer for Bitcoin. It offers a fast and efficient way to process transactions, and its success could lead to the widespread adoption of Bitcoin as a medium of exchange. For those who have remained hopeful about Bitcoin's original purpose, the development of the Lightning Network represents a significant step forward. And for those who are looking to invest in Bitcoin, the potential for the Lightning Network to increase Bitcoin's use as a payment system may be a positive sign for the cryptocurrency's future.
If you're interested in buying Bitcoin online, it's essential to choose a reputable and reliable platform. BC Bitcoin is a cryptocurrency broker that provides a simple and secure way to buy and sell Bitcoin and other cryptocurrencies. They offer competitive pricing, excellent customer service, and a user-friendly platform, making it an ideal choice for both new and experienced investors. So, if you're looking to buy Bitcoin today, be sure to check out BC Bitcoin.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards