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    Wednesday, December 20, 2017

    Bitcoin Daily Discussion, December 20, 2017

    Bitcoin Daily Discussion, December 20, 2017


    Daily Discussion, December 20, 2017

    Posted: 20 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.

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    submitted by /u/rBitcoinMod
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    Coordinated bitcoin dump + network attack with high fees + coinbase adding Bcash... Thats what happened today.

    Posted: 19 Dec 2017 04:10 PM PST

    I am done with Coinbase/GDAX and you should be too.

    Posted: 19 Dec 2017 05:43 PM PST

    I have never seen a more obvious inside deal between Bcash and Coinbase. I am moving all of my trading to Gemini personally. As a bonus Gemini supports SegWit unlike Coinbase. I can't tolerate blatant disregard to integrity from Coinbase.

    submitted by /u/NosillaWilla
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    Possible Bitcoin Treasure Hunt....

    Posted: 19 Dec 2017 11:12 PM PST

    In July of 2010 I bought 1000 dollars worth of bitcoins at 8 cents a pop. I have been slowly converting them to cash with random buyers etc....Besides the few charge-backs and scumbags it has gone over well....I now have enough money to live the rest of my life off of if I am careful.....Funny to think that in 2016 I was flat broke and had nothing to my name. I will be honest the long drawn out process of changing them into cash is tiring and I still have plenty left in my wallets.....I just wanted to ask if the community would be interested in a kind of scavenger hunt for a few wallets I have loaded with some BTC...Possibly jsut to bring people together and spread what is left to those who can no longer afford to get bitcoins or whatever....If you guys are interested, upvote or just let me know...I plan on making it fun...btw i went out yesterday and bought a few troy ounces of gold I was going to throw into the crates I plan on hiding these in.....I can only do U.S i cannot travel to europe.....

    EDIT: Sweet....give me a few days to get stuff together. Ill do somthing online too for the international community...lets hope they keep going up and dont plummet like they did today

    submitted by /u/Elevenbravo90
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    Both Coinbase and BCH just lost all their credibility in the blink of an eye

    Posted: 19 Dec 2017 06:53 PM PST

    Very curious to hear an official response to what we just experienced, but it hardly matters anymore. This fuckup opens the door to anyone with half a spine who wants to step up and be the next crypto bank app frontier. See you wherever that is in 2018.

    submitted by /u/austrella
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    CNBC manager connected to bitcoinCash meetup group: explains why FastMoney lets Ver pump his latest project without any challenging questions...

    Posted: 19 Dec 2017 07:59 PM PST

    Journalistic Integrity:

    http://archive.is/Ld82B

    That's the marketing manager's husband being a creator of a bcash group.

    submitted by /u/joyelectricboy
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    What’s all the panic about?

    Posted: 19 Dec 2017 11:03 PM PST

    Bitcoin dropped to 16.5k today. 16.5k guys... everyone is running around like their hair is on fire. I've only been on the HODL train for a little over a month and this sub has convinced me to expect and not worry about dips like this. It's only been a month for me and I'm not panicked, why is everyone else?

    I was bracing for dips down to 11 or 12k. We're up here hovering around 17k and acting like the world is going to end.

    Coinbase isn't a big deal, BCH isn't a big deal. Bitcoin has seen worse and continues to grow, I for one will be buying this dip, because BCH isn't the gold standard for Crypto Currency. Bitcoin is.

    submitted by /u/CappinPeanut
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    "If you don't think Bitcoin is going to be attacked, you've misunderstood what this is about." —Andreas Antonopoulos

    Posted: 19 Dec 2017 01:42 PM PST

    Hey Brian Armstrong...

    Posted: 19 Dec 2017 07:25 PM PST

    Would you like to explain to the jury...

    1) Why you launched a new altcoin market with the SELL button disabled?

    2) Why the price of the altcoin skyrocketed 30%+ hours BEFORE the launch?

    3) Why you didn't credit your customers this altcoin BEFORE launching the market?

    4) Why all of this was done entirely without any warning to customers (except the insiders apparently)?

    5) How dumb you are for thinking this would all be fine?

    submitted by /u/saucerys
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    If every Bitcoin tx was a SegWit tx today, we'd have 8,000 tx blocks & the tx backlog would disappear. Tx fees would be almost non-existent once again. THE NEXT BITCOIN TX YOU MAKE, MAKE IT A SEGWIT TX. DOWNLOAD A SEGWIT COMPATIBLE WALLET AND OPEN A SEGWIT COMPATIBLE EXCHANGE ACCOUNT RIGHT NOW

    Posted: 19 Dec 2017 08:25 PM PST

    Thanks Coinbase

    Posted: 19 Dec 2017 05:29 PM PST

    You adopted Bitcoin cash. You did it during the time when thousands of new people are rushing to your site each day. People that don't know the difference between the currencies and will buy Bitcoin cash because it's cheaper. You can't even handle the volume of the demand for the three coins you had. You said stability and security and then segwit are your priorities. You then decide to add a shit coin. The problem here isn't necessarily your decision, it's the power you have as the on ramp into crypto. I think you do a good job overall but I really can't wait until you have a competitor. I feel like you just hurt Bitcoin by doing this.

    submitted by /u/eleven8ster
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    You can try a testnet Bitcoin Lightning transaction right now !

    Posted: 19 Dec 2017 10:05 AM PST

    Go to this site : https://htlc.me/, click on "Got it, I wrote it down", get your tBTC (not real BTC, "t" is for "testnet"). Then, you can go buy some fresh articles with Lightning transactions at https://yalls.org/ or some Caffe Latte at https://starblocks.acinq.co/ .

    You need to copy the "payment request" of the site you want to buy from and paste it onto your htlc.me lightning wallet (in "send tBTC"). Once the transaction is confirmed on your wallet, you can go see on the site you bought from that the transaction has been confirmed instantly. All of this is still under development but lightning devs are doing an amazing job at it ! It's not that far down the road !

    submitted by /u/Nabugu
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    Stop using Reddit to get your crypto news...

    Posted: 19 Dec 2017 03:16 PM PST

    Reddit is a FUD machine, attacks left, right and center.

    Go to twitter, follow some people that actually know what they're talking about... Here are some suggestions. Even some of crypto's other than BTC, I don't care what coin you follow, just stop getting your information from Reddit.

    Jimmy Song @jimmysong Andreas Antonopoulos @aantonop Tone Vays @ToneVays Richard Heart @RichardHeartWin Bitfinexe'd @Bitfinexed Whale Panda @WhalePanda Charlie Lee @SatoshiLite Vitalik Buterin @VitalikButerin Charlie Shrem @CharlieShrem Blockchain @blockchain

    submitted by /u/Nyxiom
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    What manipulation? Crypto Investor caught the whole thing on camera

    Posted: 19 Dec 2017 08:52 PM PST

    Coinbase / Brian Armstrong tried to kill Bitcoin today

    Posted: 19 Dec 2017 09:38 PM PST

    Coinbase roadmap 4 days ago: https://imgur.com/a/XYmsw

    No mention of BCH being added.

    It's been clear that Coinbase, Bitpay, and Blockchain.info have purposely not implemented segwit. They are VC backed. They have the money. Yet they won't do it. Why? My guess is they want to wrest control of Bitcoin from the Core developers.

    So they hatch a plan to try one more time to kill Bitcoin and make BCash the biggest crypto.

    Despite not putting BCash in their roadmap 4 days ago, they went live with BCash trading out of the blue.

    In advance, for the past couple of days, volume and price had started to rise. Clearly many people knew.

    At the same time, a pump was coordinated for BCash, and a dump was coordinated on BTC, and a swarm of trolls descended upon this subreddit. They wanted to induce a flippening.

    They failed. That kind of attack doesn't work. I'm not going to dump BTC and buy BCash. But that's not the point.

    The point is it's slimy. And we longtime Bitcoiners will not forget.

    submitted by /u/pdtmeiwn
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    Something fishy is going on this sub

    Posted: 19 Dec 2017 12:26 PM PST

    The negative comments on this sub suddenly increased , a lot . Most of the comments are about high transaction fees, and most of the comments are exaggerating it a lot. I think something fishy is going on here . Don't fall for this. Hodl tight !!!

    submitted by /u/kashkalik
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    GDAX just cancelled 11.5k worth of BCH sell orders.

    Posted: 19 Dec 2017 06:38 PM PST

    These guys think they can fuck with the market whichever way they want to!

    submitted by /u/carforre
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    Evidence Emerges of CNBC Collusion with Roger Ver, BCash

    Posted: 20 Dec 2017 02:30 AM PST

    I've written a public comment to Coinbase expressing my dissatisfaction with their execution of the BCH launch, and I suggest you do the same.

    Posted: 19 Dec 2017 05:58 PM PST

    As I wrote in my comment, I have no problem with Coinbase allowing early access to BCH. However, their enabling of insider trading and lack of transparency to the public during this time period was unacceptable. As a community, we should not stand for things like this and need to make our voices heard. Posting a comment on Reddit is great, but it's important to speak directly to those we're dissatisfied with. I've pasted the full text of my comment below. I wrote it on their post about the BCH launch, but if you want to write them as well, you can do it anywhere, even in a support ticket.

    Your execution of this entire process was extremely unprofessional. I understand Coinbase supports larger blocks, but that doesn't make it ok to allow blatant market manipulation and for a lack of transparency. Your initial announcement about supporting BCH indicated you'd be enabling support around January 1st. While it's great you allowed your users to access their BCH early, what's not so great is enabling blatant market manipulation. Please don't pretend you don't understand what I mean. It's no coincidence the price of BCH has been skyrocketing in the days leading up to this announcement. Also, you couldn't even give the general public 24 hours notice before doing this?

    I remember back in the day when Coinbase was a bastion of excellence in the BTC economy; I remember being glued to my screen when your infamous rocket ship countdown timer was the focus of the community. I recommended Coinbase to all my friends, peers, and the readers of my blog, but I will no longer be doing so after this disaster of a launch. There's a reason you had to halt trading on your site; it's because your launch of this fork was executed so poorly.

    I disagree with Roger Ver and Jihan Wu because of their lack of professionalism and blatant manipulation of the Bitcoin protocol which is evident to anyone who's heard the things Roger has said in his recent interviews or who understands what ASIC Boost is. However, I still do hold a small amount of BCH because companies like Coinbase hold power in the world of cryptocurrency and I'm cynical about human nature. I would love to see Core implement a blocksize increase AND begin the rollout of the Lightning Network, but the Bitcoin community does not need people like Roger and apparently companies like Coinbase in charge.

    Unless Coinbase releases a public apology and makes an attempt to right this situation, I'm afraid I'll have to begin recommending alternatives and start moving my business elsewhere. You should have given the general public more than a few hours advance notice of this event so they could trade accordingly instead of giving it to whatever friends or peers the company allowed to profit off of insider information.

    Sincerely,

    A disgruntled customer.

    submitted by /u/MarketAhab
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    A map of the ⚡ Network today. 303 nodes and 942 channels all over the world

    Posted: 19 Dec 2017 11:50 AM PST

    Let's be honest here, we need Lightning like.....yesterday.

    Posted: 19 Dec 2017 05:56 PM PST

    I'll be honest myself, I don't have a high opinion on Roger Ver (total a$$hole imo) and his bcash scam. I still believe in Bitcoin and I know sooner or later, it will rule the crypto world. However, we need a usable Lightning network A.S.A.P. to stop those manipulative pump & dump scams.

    I hope every devs that can help on this are working on Lightning at the moment. This is critical to stop the heist that Ver/Jihan and their cliques are triying to pull off on the clueless crypto n00bs.

    submitted by /u/Robby010101
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    Coinbase is FDIC insured and subject to insider trading violations. If you wish to complain go to the following website.

    Posted: 19 Dec 2017 10:05 PM PST

    In days like this...NEVER FORGET

    Posted: 19 Dec 2017 02:10 PM PST

    We are under attack, beware

    Posted: 19 Dec 2017 11:07 AM PST

    Look at the number of posts negative of bitcoin. They know no patience and want you to lose yours. Now look at the pump in bitcoin cash, bcash. Attack #3 is underway. All hands on board.

    submitted by /u/bhishmapitamah
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    plunging! now its only like 25% higher than the price it was 10 nights ago !!!!

    Posted: 19 Dec 2017 01:36 PM PST

    After that dump Roger took, I'm more confident in Bitcoin than ever.

    Posted: 19 Dec 2017 06:59 PM PST

    Fuck off Roger. In Andreas We Trust.

    submitted by /u/Downvotes_For_All
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