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    Bitcoin Daily Discussion, December 03, 2017

    December 03, 2017

    Bitcoin Daily Discussion, December 03, 2017

    Daily Discussion, December 03, 2017

    Posted: 03 Dec 2017 02:00 AM PST

    Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!

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    submitted by /u/rBitcoinMod
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    I'm likely one of the Coinbase 14,000 that the IRS now has targeted. I will report EVERYTHING that occurs to this community.

    Posted: 02 Dec 2017 10:26 PM PST

    I got into BTC in a big way this year (over $20K purchased on Coinbase). To my unfortunate surprise, that technically puts me on the list that Coinbase was ordered to handover to the IRS. I do not blame Coinbase and am satisfied that they fought against the action.

    However, since I believe that this is highly overstepping taxpayers rights as well as conflicts of parity: i.e. does the IRS get notified if I invest 20k in mutual funds? I intend to document any and all interactions I have with any government body here for this community to review.

    I want all of us to be vocal, transparent, and prepared to protect our assets under due process.

    I have dutifully paid U.S. taxes since day one of my working life. I have not profited one cent as of yet with any cryptocurrency, since I have not sold one Satoshi of my holdings. I plan to arm myself with the most practical legal advice available to me and, if it comes to it, support from bitcoin-friendly financial advisors that know their stuff.

    Thanks for listening. HODL on.

    EDIT: Looks like I got the tax year(s) wrong; thanks for setting me straight. Keeping this post up as my sentiment about this action remains unchanged.

    submitted by /u/DankLard
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    Today my mom call it Bitcorn. Yesterday it was CoinBit. Stay tuned for tomorrow's new BTC name.

    Posted: 02 Dec 2017 07:30 AM PST

    Proud of my boys!

    Posted: 02 Dec 2017 02:34 PM PST

    Drunk AF, BTC IS KING

    Posted: 03 Dec 2017 12:46 AM PST

    Went around drinking tonight on the town! Asked about every other personbifntheybowneed btc. Their answer was no. Write it on every bars washroom wall "buy btc". Girls don't like that my btc couldn't buy them drnks 😂

    To the moon! TESLA ROADSTERRRR SOON!

    submitted by /u/OptimusMaximusCrypto
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    Bitcoin billionaires: Winklevoss twins' $11m bet on digital currency is now worth $1 billion

    Posted: 02 Dec 2017 10:31 PM PST

    Check it out...⚡️Lightning Payments⚡️in action!

    Posted: 03 Dec 2017 12:57 AM PST

    After buyin bitcoin the last 3 years my wallet now has more money than my 401k of 30 years

    Posted: 02 Dec 2017 08:08 AM PST

    when bitcoin recovers a little too quickly from a dip

    Posted: 02 Dec 2017 11:34 AM PST

    As of right now the 24hr high is $11,100USD and the low is $10,900USD. I think that’s just swell.

    Posted: 02 Dec 2017 04:22 PM PST

    It's not always going to rocket up but a day of stability right now can not hurt. It must put some people at ease around the world that it's not always massive spikes and massive dips just non stop 24/7. Which is what it has been since thanksgiving. I think that's a pretty fuckin dope price to have a little consistsecy.

    submitted by /u/slardybartfast8
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    ATTENTION: if you own bitcoin but have never listened to an Andreas Antonopoulos talk, then you’re doing it wrong!

    Posted: 02 Dec 2017 09:23 AM PST

    You Don’t Understand Bitcoin Because You Think Money Is Real

    Posted: 02 Dec 2017 04:33 PM PST

    Just purchased 1 BTC

    Posted: 02 Dec 2017 08:26 PM PST

    My first Bitcoin purchase! I'm excited to join the team. Let's go!

    submitted by /u/zeph3939
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    Has anyone else been completely glued to the bitcoin subreddit since the price hit 9k?

    Posted: 02 Dec 2017 09:59 PM PST

    It seems like every day since I come on here and read until there's no blue links left. Maybe it's the excitement of witnessing history being made

    submitted by /u/soberasfuck
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    Prediction: If currency of Argentina or Venezuela fails this will lead to mass adoption of bitcoin among that populace. That will in turn lead to bitcoin rising by more than $50,000 when it happens.

    Posted: 02 Dec 2017 07:38 PM PST

    Lightning just blew my mind -- AGAIN

    Posted: 02 Dec 2017 08:25 PM PST

    I have a basic understanding of Lightning, but was just (re)reading the (short) official description of how it works and hit this part:

    By creating a network of these two-party ledger entries, it is possible to find a path across the network similar to routing packets on the internet.

    I'd read this before but it didn't hit me until rereading it, that since in Bitcoin money is simply data packets they can create a sort of financial DNS that operates on top of the blockchain.

    This is what happens when you get world-class engineers working on a product with no limits imposed by governments or banks or other power brokers.

    This is real financial innovation.

    submitted by /u/doc_samson
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    "Even at $10,000, I believe bitcoin to be the most undervalued asset in the world" - Simon Dixon, Bank To The Future

    Posted: 03 Dec 2017 03:08 AM PST

    I was at Blockshow Asia in Singapore this week and saw a ton of interesting talks and presentations. My favorite was Simon Dixon, of Bank To The Future - who stated that even at $10,000, Bitcoin was still the most undervalued asset in the world.

    His claim was supported by his strong belief that institutional money has still not yet entered the space. This isn't exactly a revelation since that it a widely held belief by many bitcoin bulls, but Simon had an interesting way of describing the situation Wall Street currently finds itself in.

    Dixon described bitcoin as the first investment in modern history that the small time investor has access to before Wall Street, which is hamstrung by the lack of regulation in the space. However, once Wall Street is able to enter, they will in a big way. With CME Futures on the horizon eventually paving the way for an ETF, their entry seems all but inevitable and they're not going to be buying with pocket change.

    Dixon said that whether individual fund managers are believers in bitcoin or not, they will have no choice to put their clients into BTC because it is one of the few investments that at present, is completely uncorrelated to the mainstream capital markets. Finding uncorrelated assets is a very basic element to traditional diversified portfolio management (which is also discussed in Chris Burniske's Cryptoassets), so it will be a no-brainer for them whether they like it or not.

    He also discussed the properties that will establish Bitcoin as the powerhouse he believes it is destined to become - the fact that it is the world's first truly neutral currency, that doesn't care about any specific country or government and can't be shut down by them either.

    On fiat currencies, he does not see them ever going away but sees a future where people can spend their local inflationary fiat currencies but hold their wealth in cryptocurrencies that have zero connection to whichever country someone lives in. The fact that people will have a choice will ultimately keep governments honest because if they abuse their power, everyone will be free to move their wealth and the government will be powerless to stop it.

    Lastly, he predicted that in 2018 we'll see the entire cryptocurrency market reach a trillion dollar valuation. He said that there will be will be bubbles, casualties, scams and regulation along the way but ultimately, the move towards a trillion is already fast in motion.

    I'll be traveling around Asia for the next couple months writing about all of the cool blockchain and cryptocurrency tech that's developing here. You guys can support me by subscribing to my website - www.cryptoambit.com. Anything of value I learn, I'll do my best to pass it on to you guys since I've already learned a ton from the reddit community. Thanks!

    submitted by /u/CryptigoVespucci
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    My grandmother called the other day and asked how my “Coin collecting” is going

    Posted: 02 Dec 2017 07:23 PM PST

    I told her it was going well.

    submitted by /u/rustykwoff
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    /r/Bitcoin is the top entry on the recommend Tech subreddits list when creating a new account here

    Posted: 02 Dec 2017 06:20 PM PST

    I Wrote A Piece About Why $10,000 is still TINY Compared to the True Value of Bitcoin.

    Posted: 02 Dec 2017 08:46 AM PST

    What You Need to Know About the Future of Bitcoin Technology - SegWit, Lightning Network, MimbleWimble, Rootstock, and More

    Posted: 02 Dec 2017 04:34 PM PST

    A Tesla with a Bitcoin license plate.

    Posted: 02 Dec 2017 11:06 AM PST

    “The one thing that’s missing, but that will soon be developed, is a reliable e-cash, a method whereby on the Internet you can transfer funds from A to B without A knowing B or B knowing A, the way I can take a $20 bill hand it over to you and then there’s no record of where it came from”

    Posted: 02 Dec 2017 12:30 PM PST

    Anyone else noticing the accelerating rate of people talking about and investing in Bitcoin?

    Posted: 02 Dec 2017 10:14 PM PST

    The average age group of what I call the new crowd is about 50-65 y/o. Talking about it in passing with each other, jumping in, etc. This is the demographic that will read the WSJ this morning and decide to listen to the hype a little bit. Excellent timing ahead of the CME Futures influx.

    submitted by /u/constitution1787
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    If Wikipedia accepted Bitcoin I would donate 3$ right now.

    Posted: 02 Dec 2017 06:04 PM PST

    If Wikipedia accepted Bitcoin I would donate 3$ right now.

    Anyone know someone at Wikipedia to pass the message along?

    submitted by /u/Mr_Booth_
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    Wow, look at that candle... like a rocket ship BTC over 11,200

    Posted: 03 Dec 2017 03:20 AM PST
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