Bitcoin Daily Discussion, December 19, 2017 |
- Daily Discussion, December 19, 2017
- Sold some bitcoin to buy my new best bud ��
- Hey Pineapple fund, plz consider supporting Lightning Network Developers. Lets solve scaling now.
- Vocabulary for the newbies by u/KMSouthgate
- CNBC is Currently LIVE, making it very clear that you can buy a FRACTION of a Bitcoin! The masses are being educated!
- Guy that owned 20% of AOL in 1990 has 50% of his money in BTC
- Bitcoin Success Story
- Every day that goes by I realize that Bitcoin is much more of a social revolution than a financial one...
- My favorite HODL meme ever.
- Exciting news from Chain: "We’re thrilled to release Ivy for Bitcoin: the first-ever high-level language and IDE for creating and using Bitcoin smart contracts"
- check out this shitcoin
- 'Old man' advice for the newly Bitcoin rich
- From 10k BTC for Pizza to 10k Pizza for 1 BTC
- Block #500,000 mined!
- Some thoughts on the blocksize from a longtimer
- Wikileaks founder Julian Assange urges donors to use cryptocurrencies
- You can buy fractions of a bitcoin.
- "The person who believes in Bitcoin views the absence of regulation as their protection. It protects them from negative interest rates, monetary inflation, capital controls and bank bail ins. I belong to these people who want to be protected from that and the tool to protect yourself is Bitcoin."
- Ivy for Bitcoin: the first-ever high-level language and IDE for Bitcoin smart contracts
- Bittrex Holding Me Hostage for 20 Days - account over $300,000 is completely frozen.
- At this point, it may be risky for the extremely wealthy NOT to invest in Bitcoin.
- Visualize live transactions from blockchain
- This post should go in the history books.
- The next time someone tells you Bitcoin doesn't have anything substantive behind it.... point out that GOLD is also "proof of work"
- Move your coins off of exchanges and use SegWit wallets - you need to do these two things right now
| Daily Discussion, December 19, 2017 Posted: 19 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! Daily threads are fast paced! If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow. Suggested Topics
Your price screenshots and repetitive submissions are being removed, so please stop submitting them! Please check the previous discussion thread for unanswered questions. [link] [comments]  | ||
| Sold some bitcoin to buy my new best bud �� Posted: 18 Dec 2017 07:56 PM PST
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| Hey Pineapple fund, plz consider supporting Lightning Network Developers. Lets solve scaling now. Posted: 18 Dec 2017 01:32 PM PST These guys are doing really important work for the community. https://lightning.network [link] [comments]  | ||
| Vocabulary for the newbies by u/KMSouthgate Posted: 18 Dec 2017 04:56 AM PST
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| Posted: 18 Dec 2017 10:20 AM PST They're covering coinbases limits with credit/debit card, Mad Money has recently said that anyone who can afford it, should put ALL of the money they can afford to lose into bitcoin. Love these fuckers. [link] [comments]  | ||
| Guy that owned 20% of AOL in 1990 has 50% of his money in BTC Posted: 18 Dec 2017 07:46 AM PST
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| Posted: 18 Dec 2017 07:37 PM PST Hello. I have a bitcoin success story. (prices are in CDN dollars). Point form because I am a bit drunk.
In conclusion, I invested 120$ in 2013. I cashed out to pay for Christmas 2013 and got around 1000$. Now I cash out to give my sick mother an iPad and 500$. Bitcoin is going to the moon and once I am financially stable I will re-invest. Sure we deal with bitcoin millionaire stories but my mom is going to be damn happy with her iPad on Christmas morning. Worth it. Crypto is the future but family doesn't last forever and I cannot wait for one more week until I see the reaction. Good luck HODLers, stay in it if it is financially viable. [link] [comments]  | ||
| Posted: 18 Dec 2017 08:43 PM PST • It has presented itself as a way to make huge profits quickly but I believe it's just a way to attract as many people as possible. To outsiders, this looks like a cult, naive and short sighted. "I've seen this before" many say. But they haven't. It's not 1999, it's 1929. • Every major revolution comes once in a generation. No one fully lives through two, which is why they repeat themselves. Over and over. Approximately every 80-90 years. ("The Fourth Turning") • I don't know what will happen with Bitcoin price or any crypto for that matter but I do know this - there is something brewing with geopolitics, with the economy, with inequality and with how things currently are. Travel around the world - you feel it • This is why I urge everyone I know to buy some crypto, mostly Bitcoin, because it is a hedge against that macro force. The price will go up and down. Maybe it pops then comes back. But that won't matter in 10 years - the seeds have been planted. • Beyond the profits and the daily dopamine rush, this is infinitely bigger than people think - not because people will spend Bitcoin on groceries but because of what it represents - freedom from the system. Only when we look back will we realize what it is we were a part of. [link] [comments]  | ||
| Posted: 18 Dec 2017 08:40 AM PST
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| Posted: 18 Dec 2017 01:11 PM PST
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| Posted: 18 Dec 2017 05:38 PM PST
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| 'Old man' advice for the newly Bitcoin rich Posted: 18 Dec 2017 11:32 AM PST
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| From 10k BTC for Pizza to 10k Pizza for 1 BTC Posted: 18 Dec 2017 08:23 PM PST | ||
| Posted: 18 Dec 2017 10:38 AM PST | ||
| Some thoughts on the blocksize from a longtimer Posted: 19 Dec 2017 12:45 AM PST People need to realize, that at the current (and still raising) popularity of Bitcoin, bigger blocks wouldn't help much if at all. The thing is, it is very easy to fill blocks. If blocks aren't consistently full, users can effectively set fees to as low as they want and miners will include them anyway. Maybe there's going to be some delay, maybe not. Nice and dandy, but it doesn't work for long. It worked for BTC because the number of users was tiny. And it will work for altcoins, as long as they are tiny. But as soon as a given altcoin gets popular enough to be even remotely significant, it will hit the same wall. As soon as there is more demand than room on the blockchain, some transactions will be left-over and start piling up: the mempool will keep raising until some people are priced out. Some users will say: "well, that's too much, I'm not going to do that test transaction" or "I'm going to use an altcoin for this". There is a "cut-off cliff of pain". I estimate that this pain-price point to be around $10-$20 and kind-of fixed. Exactly between "too expensive for paying for any coffee" and "super-cheap way to make international wires". Where rich users are fine paying, but smaller users have been cut-off. Bitcoin got there already. That's why it's nearing $20k/BTC. That's what many of you wanted, right? Tip for people with small amounts stuck: get your wallets ready and maybe, if you're lucky, there will another time when network will calm-down a bit (around new year maybe? or maybe when Coinbase finally start supporting SegWit, etc) and either: consolidate all your small outputs into one bigger TXO (segwit one!), or send to an exchange during that time so at least you can sell it. Just three weeks ago we had a period of 2-5sat/B transaction clearing out. Anyway, there is no other way. We can't have billions of people on-chain. If we had 8MB blocks, we would still fill them up, until some people wouldn't be able to compete with the fees. Maybe we would buy ourselves a month or two. Also: I've heard many people complain that using the coins is most important, and better for Bitcoin than holding it. It's absolute rubbish. The value of Bitcoin is set by how many people are willing to HODL it at a given price-point, not how many people are willing to spend it. "Spending" Bitcoin is just a transfer of Bitcoin from person A, to person B - nothing in the system changed except current owner of some coins. It's even worse if B automatically sells for fiat immediately. Holding BTC means that your consider it worth more than a current market price. Bitcoin could totally work and be worth millions per piece, even with transactions at $100, as long as people consider it safe and worth holding. As long as I can spend $100 once a year to increase my BTC-retirement-fund, and then spend $100 once a year, once I retired to cash out to some local currency, I'm all good. Now, I now it sucks if you're not rich, and you can't toy with it, and keep sending between wallets etc. And you feel like altcoins are better etc. And it's true - ATM many altcoins a cheaper way to send small sums of money around. But saving / investing... let me tell you how it looks from my perspective... I am a software engineer in Sillicon Valley. I have a well-paying job, I eat $20-worth of sushi for dinner, pay $10 every time I trade stocks, pay $3k each month for rent. I can invest $10k in BTC without thinking too much about it. And I'm not telling you this to make you jealous. The wealth inequality is so vast! That's just reality and I think it gives some perspective. I know as I wasn't born here. And I'm no one special here. I'm a nobody. I can't even afford a decent house here. (hindsight is always 20/20, ha) And there are thousands of software engineers like this. They receive and trade stocks on a weekly/monthly basis, worry about the overpriced stock market, overpriced housing, pilling up cash that they have no idea what to do with. Do you think they care if Bitcoin transaction costs $10? No, they don't. And how many people who complain about $1 fees will take to invest as much as a person like me can? Hundreds. And as I said - I'm nobody. A CEOs here can drop $1MM on Bitcoin, just because they feel playful a given day, or they got jealous of some other CEO friend told them how awesome they are doing with BTC, during a golf game on Saturday. And they wouldn't worry about 50% correction much if at all. And do you think these people buy value-phones and look for good deals on economy-class cars? Do you think they have time to research which altcoin of the day has low transactions? Come on. They will all think something like: "let's put 0.1% of my cash into this magic internet money and see what happens. I want that Bitcoin thing too.". So, you're free to have your own opinion, but if you ask me, for time being, the people who can not afford to transmit Bitcoin too often will and should just hold it, transferring it when it's relatively cheaper, and use altcoins for playfull spending etc. Just don't expect too much return on your altcoin holdings. I expect Bitcoin to consistently keep growing the fastest, while altcoins keep multiplying. It is a self-fulfilling prophecy. Or an iPhone vs hundreds of Android spin-offs thing. I use Android, but do I believe someone will dethrone iPhone? Nope. In a sense... you want to invest in Apple stocks, even if you can't afford to drop $1k on an iPhone yourself. Because of people richer than you that can, and will. And if it makes it any better, I know that LN will solve it all for us. We just need to wait a couple of months.. a year maybe for it to be more common. And I've been through all the early hacks, crashes, MtGox, great depression, forking drama... years and years of problems. And Bitcoin being too popular is like the smallest problem I've seen so far. The problem that smaller coins would like to have, haha. Being patient and some educated faith is what you are rewarded for. [link] [comments]  | ||
| Wikileaks founder Julian Assange urges donors to use cryptocurrencies Posted: 18 Dec 2017 05:12 PM PST
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| You can buy fractions of a bitcoin. Posted: 18 Dec 2017 10:15 AM PST Ppl dont know this. Next time you are having a conversation with someone try sneaking it in to enlighten them. For example "wow this cake is good, you can buy fractions of a bitcoin" or if you are commenting on a funny maymay "this is some dank imagery, you can buy fractions of a bitcoin" Together we can educate people [link] [comments]  | ||
| Posted: 18 Dec 2017 01:46 PM PST
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| Ivy for Bitcoin: the first-ever high-level language and IDE for Bitcoin smart contracts Posted: 18 Dec 2017 11:39 AM PST
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| Bittrex Holding Me Hostage for 20 Days - account over $300,000 is completely frozen. Posted: 18 Dec 2017 11:00 AM PST On November 28 I tried to transfer 1 btc and for some reason it was not letting me and telling me my account was basic and needed enhanced verification. The thing is, I was already enhanced and somehow it downgraded me. I did the verification again and got flagged for suspicious activity. To be transparent, I also had an old account I started for use with my business (that I never used) and that may have also triggered it as you aren't supposed to have multiple accounts. Due to this my account is completely frozen. I cannot even trade out of my positions, I was stuck in alts during the rise and BTC. I also cannot withdraw. I am getting concerned as I have not received a response from a real human in 20 days. The only time I received a response from what seemed like a human, was when I created another ticket and they basically said "tsk tsk, don't create new tickets." I classify Bittrex as a financial institution with fiscal responsibilities towards its clients. This level of non-communication and non-support is unacceptable. I have no ability to control my account or make trades...imagine being stuck in the most volatile asset and watching your hard earned money fluctuate massively without being able to do anything. I am at a loss of what to do. I have filed a complaint with the BBB and received no answer thus far. There is no phone number provided. I just want to talk to a real human. At this point, I am debating on flying out to their HQ in Nevada and knocking on their door. I am worried that they are just trying to hold on to my money. Does anyone have any solutions to help me with? [link] [comments]  | ||
| At this point, it may be risky for the extremely wealthy NOT to invest in Bitcoin. Posted: 18 Dec 2017 06:29 PM PST I've been thinking about the mindset of someone already extremely wealthy in USD or any fiat. If you are extremely wealthy, let's say anyone who has over $50 million, the only real threat to your financial well-being is really the devaluation of the USD. The only real threat to that currently is cryptocurrency. Doesn't it almost make more sense at this point to hedge a bet just in case? [link] [comments]  | ||
| Visualize live transactions from blockchain Posted: 18 Dec 2017 04:32 PM PST https://therealjackson.github.io/LiveBlock/ Let me know how you like it, I spent some time coding this. [link] [comments]  | ||
| This post should go in the history books. Posted: 18 Dec 2017 09:17 PM PST
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| Posted: 18 Dec 2017 09:20 PM PST
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| Move your coins off of exchanges and use SegWit wallets - you need to do these two things right now Posted: 18 Dec 2017 12:51 PM PST
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