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    Bitcoin Daily Discussion, March 18, 2018

    Bitcoin Daily Discussion, March 18, 2018


    Daily Discussion, March 18, 2018

    Posted: 18 Mar 2018 03:00 AM PDT

    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

    • Screenshots
      • of article headlines without the article
      • of your favorite price ticker
      • of your exchange website
      • of your private chats
    • Wallet/Exchange/Network
      • recommendations
      • complaints
      • service outages
      • troubleshooting
      • fee estimation
      • unconfirmed transactions
    • All things price
      • hodling
      • the dip
      • the moon
      • price going up
      • price going down
      • technical analysis
      • price on your smart phone
      • price on your smart watch
    • Stuff you bought with Bitcoin
      • Hardware wallets
      • Lambos
      • Teslas
      • Pizza
    • Questions
      • Receiving Bitcoin
      • Sending Bitcoin
      • Earning Bitcoin
      • Storing Bitcoin
      • Buying Bitcoin
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    • That thing your coworker said
    • Bitcoin Showerthoughts
    • Random music videos
    • Bitcoin license plates
    • Interesting threads
    • Future speculation
    • News of the day
    • Memes, GIFs
    • Twitter links

    Your price screenshots and repetitive submissions are being removed, so please stop submitting them!

    Please check the previous discussion thread for unanswered questions.

    submitted by /u/rBitcoinMod
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    Mood Currently.

    Posted: 17 Mar 2018 07:39 PM PDT

    My "Beginner’s Guide to ⚡Lightning⚡ on a Raspberry Pi" is ready for @lightning Mainnet! Build your own Bitcoin Full Node with Lightning for < $100! ��‍����️⚡️��

    Posted: 17 Mar 2018 06:32 PM PDT

    Stitching Bitcoins

    Posted: 17 Mar 2018 05:55 AM PDT

    What HODLing is actually like!

    Posted: 17 Mar 2018 05:44 PM PDT

    I paid Hodl Monkey 455,032 satoshi via Lightning for two t-shirts AMA

    Posted: 17 Mar 2018 09:17 PM PDT

    Paypal's Warning Email To Stop Trading Crypto Has Been Proven To Be Fake.

    Posted: 17 Mar 2018 08:26 AM PDT

    Fake emails telling users that they couldn't use PayPal for cryptocurrency trading were sent to many PayPal users.

    On March 16th 2018, these phishing emails were sent to many cryptocurrency users. These emails claim that trading cryptocurrencies is prohibited under PayPal's Acceptable Use Policy, and ask the user to stop using PayPal for cryptocurrencies.

    https://stopthefud.wordpress.com/2018/03/16/alert-paypal-phishing/

    (Reddit wouldn't let me submit this as a link)

    submitted by /u/trontonian
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    FORBES - Charts shows Bitcoin at 91,000 by 2020

    Posted: 17 Mar 2018 01:01 PM PDT

    Super stoked about my first mainnet lightning transaction

    Posted: 18 Mar 2018 01:21 AM PDT

    I setup a lightning node this weekend using lnd 0.4 beta and successfully used it on mainnet.yalls.org to publish an "article".

    I did everything from scratch, meaning compiled the code and created my own docker container to run lnd.

    Lightning FTW!

    Looking forward to more time spent learning the nitty gritty of lightning.

    submitted by /u/nixbox
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    Bitcoin Miners Can Now Be Charged Extra for Electricity, New York Power Authorities Say

    Posted: 17 Mar 2018 03:02 PM PDT

    Peter Thiel is a bitcoin maximalist

    Posted: 17 Mar 2018 05:19 PM PDT

    Mt. Gox Trustee Who Sold $400 Million Bitcoin Denies Affecting Market Price

    Posted: 17 Mar 2018 11:34 PM PDT

    [Good news!] After Christmas 1st time BTC dominance back to 44% again :)

    Posted: 17 Mar 2018 10:02 PM PDT

    Did you know that the current Bitcoin code is 77 thousand lines long?

    Posted: 17 Mar 2018 07:45 AM PDT

    70 thousand lines from that are written in C++ programming language.

    The very first working version number 0.1.0 only consisted of 14 thousand lines of C++ code. This is a tiny project by modern standards. For example, Linux kernel code has over 15 million lines of code.

    submitted by /u/CasperAPI
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    Withdrew funds from Coinbase and they have lost them.

    Posted: 17 Mar 2018 05:51 PM PDT

    As title says: withdrew my money and then it was "completed" and my bank turned round and said that no such thing had came near my account, rang coinbase and they passed it on to specialists as usual. Two weeks later I'm without response or my money.

    submitted by /u/jaksteel
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    MtGox trustee confirms he did not sell BTC at same time as moving them, also didn't affect price

    Posted: 17 Mar 2018 05:50 AM PDT

    There was an update over at mtgox.com today, the trustee announces he did not sell coins at the same time as moving them.

    He also says he sold them in a way which would not affect market price.

    There's been a lot of FUD about this over the last couple of weeks and its starting to look like it was all bullshit.

    Here's the link : https://www.mtgox.com/img/pdf/20180317_qa.pdf

    submitted by /u/samsonx
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    Wall Street Firm Jane Street Capital includes Bitcoin in Traded Assets - $13 Billion Daily!

    Posted: 17 Mar 2018 03:24 PM PDT

    PSA: use a mobile wallet like Samourai or a desktop wallet like Electrum to avoid overpaying fees.

    Posted: 17 Mar 2018 10:39 PM PDT

    I picked a random recent tx, which has a fee of 862sat/byte. Here's another tx with a fee of 0.675 sat/byte.

    The first transaction is not unusual, so many people/exchanges are overpaying by 1000x what they need to (even if using the old "1" format addresses for the inputs, segwit reduces fees but not by that much!).

    At this time, 1 sat/byte is fine for almost all transactions.

    The latest Electrum wallet lets you manually set the fee easily to the level you like in sat/byte, and the Samourai mobile wallet does the same.

    So don't trust the fee estimating algorithms. They are difficult to implement and thus so far wildly innaccurate.

    Should blocks get full again and you need to adjust to higher fees, Earn has a good tool to quickly check what fee to use.

    submitted by /u/KiwiNachSchland
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    Defending bitcoin against state sponsored attacks - Andreas Antonopoulos

    Posted: 17 Mar 2018 10:33 AM PDT

    1 sat/byte transaction got it's first confirmation in 3 minutes.

    Posted: 17 Mar 2018 10:10 AM PDT

    And it was even coming from a non-segwit address.

    Granted, low transaction fees are old news, but I can't help but be excited to send almost $100 for .00000372 BTC.

    It's good to be in Bitcoin.

    submitted by /u/talanhorne
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    Flash crash on BTCmarkets?

    Posted: 17 Mar 2018 11:59 PM PDT

    BTCmarkets.net shows a candle that flashed down to AUD1k or so and returned to 10k in the same hour.

    Was there an error in the chart or did I just miss a big opportunity?

    submitted by /u/01First
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    How I feel trying to HODL bitcoin lately...

    Posted: 17 Mar 2018 07:21 PM PDT

    F.U.N.D.A.M.E.N.T.A.L.S beat short-term sentiments.

    Posted: 18 Mar 2018 12:37 AM PDT

    Bitcoin and other cryptocoins will go massively up mid- to long-term because the long-term market and technical fundamentals are ever more solid and revolutionary.

    2 examples:

    1) More governments (US, France recently) are regulating crypto: not saying it should be banned but saying that abuses should be prevented and more importantly that they should not deter companies in the sector, let them move in another country and miss the boat.

    2) Lightning Network now in production / main net: do you realize how a breakthrough this is??? It brings several orders of magnitude speed improvement AND much lower costs AND further decentralization AND the possibility of direct swaps with other coins.

    F.ast

    U.nstoppable

    N.etworked

    D.ecentralized

    A.ccessible

    M.assive

    E.xciting :)

    N.ew

    T.ransnational

    A.utonomous

    L.ow cost

    S.afe

    submitted by /u/joyofpeanuts
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    Bitcoin payment solutions for merchants that really want Bitcoin

    Posted: 17 Mar 2018 01:56 PM PDT

    We are living in a world that is changing fast, but old habits and systems still hunt us and keep people minds in the same structures and old systems.
    Bitcoin come up as a revolutionary technology, that can change totally and from within the existing society, economy, financial structures and instruments. Bitcoin means freedom, means property of your own money, means control of your own money, means totally free market in a decentralized and P2P way that humanity never reached before.

    In this environment, in the last years I was involved in quite some projects to help integrating Bitcoin payments into merchants web-shops, and all people I tried to help, they wanted a simple solution that meet the following requirements:

    • to be FREE or at least for basic payments and paid for extra features, pro versions or one time payment. Some small merchants want free plugins (or at least cheap) because they are struggling with money. Some other merchants are willing to pay more for more features.
    • to be free fee, no extra charges for each tx or total volume of payments. There is no point of charging extra fees for BTC payments. We already have VISA and Paypal for that. We use BTC exactly to get rid off extra fee of intermediaries
    • to use your own personal/merchant wallet, 100% control of your BTC, no online, no 3rd party wallet, no custodial wallet
    • to not have involved any extra 3rd intermediary in the process, no tracking, monitoring of txs or account/users. Exposing all your merchant and also customer txs to a 3rd party is a dangerous slip over. You never know when that server can be hacked, seized or monitored by any gov or other institution. Bitcoin was created and designed to be a personal payment processor exactly to avoid any intermediary intervention. Privacy is a right that we should all enjoy.
    • to be easy to integrate into Woocommerce and other shopping platforms or at least no need to contract a full team of IT specialists just to put in place a Bitcoin payment
    • do not convert your received BTC into fiat. Doesn't make sense to accept something that you throw it away. You should not accept in the first place if you don't want it.

    Many of these people start from the definition of Bitcoin from Satoshi's papers, that stated: Abstract. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.

    That's it, no need for more explanations, simple as it is.

    So here are some of the solutions I found, studied, tested. Maybe are more, maybe some are not available anymore, but I will enumerate them here so others can see them and decide for themselves. If you know others please post here in the same manner.
    Please understand that I have nothing against any company in the field that wants to earn some extra money in this business. I am not part of any of these companies or any other company involved in Bitcoin. I am just a tehnical/business consultant that wants to help others to use Bitcoin as it is.

    1. CoinGate - NOT complying all users requirements
      1% flat fee for all txs, no additional ones, but you don't receive BTC, just fiat
      free plugins for WooCommerce, Magento, Magento 2, OpenCart, PrestaShop, osCommerce, VirtueMart, WHMCS, ZenCart
      all txs pass through their servers and monitoring, custodial wallet

    2. Blockonomics - NOT complying all users requirements
      first 10 txs are free, then they start charging a 1% fee for each tx
      free plugins for WooCommerce, Magento, Magento 2, PrestaShop, WHMCS custom website
      all txs pass through their servers and monitoring, but directly to your personal wallet

    3. Bitpay - NOT complying all users requirements + is against Bitcoin itself huge fees for each tx and for withdrawals, convert immediately your BTC into fiat
      free plugins for Magento, Woo, OpenCart, Prestashop
      all txs pass through their servers and monitoring, their wallets, their rules this payment processor is the Paypal of Bitcoin

    4. Coinify - NOT complying all users requirements
      Risk and Processing Fee + Bitcoin Transaction Fee - not specified clearly before you sign up
      free plugins for Magento, Opencart, Woo, PrestaShop, Box Billing, Zencart, ShopRama, Oscommerce, WHMOS
      all txs pass through their servers and monitoring, their wallets, their rules

    5. CryptoWoo - NOT complying all users requirements
      no fees for txs or for any additional transactions
      paid plugins in 3 stages from $34 to $99 for Woocommerce with multi cryptocurrencies. Attention: the plugin is not working with standard CRON system of WP, needs hard CRON. That means extra setup and requirements all txs pass through their servers and monitoring, but directly to your personal wallet

    6. Piixpay - NOT complying all users requirements
      1,75% fees + 5€ per tx. Is converting all txs into fiat and send them to your bank
      free plugin for Woocommerce, by request and registering all details of your shop/company
      all txs pass through their servers and monitoring
      This service is good for paying your bills with Bitcoin, almost anywhere in the world

    7. SatoshiPay - NOT complying all users requirements
      free plugin for Woocommerce for nano-payments
      not suitable for all merchant shops

    8. Blockpay + Odoo - NOT complying all users requirements - but is a good start with Odoo as full e-commerce platform that now support native Bitcoin. There are many implementations, but needs help from specialists, free plugins, platforms, but there is a cost for implementation

    9. GoCoin - NOT complying all users requirements
      GoCoin charges a flat 1% transaction fee, which is charged immediately upon acceptance of payment. This fee may be reduced for merchants conducting a higher volume of transactions. Plus if you want to withdraw in fiat to bank account and BTC withdrawal is min 0.01BTC
      free plugins for PrestaShop, Opencart, Zencart, Magento, Woo, Oscommerce, Ãœbercart
      all txs pass through their servers and monitoring, custodial wallet

    10. Coinilla - NOT complying all users requirements
      service fees from $35 to $360
      free plugins for Magento, Woo, OpenCart, WHCMS, PHP
      all txs pass through their servers and monitoring, but directly to your personal wallet

    11. CoinPayments - NOT complying all users requirements
      different fees for types of payments, 0,5% + cointx fee
      free plugins for Woo, Magento, WHMOS, Opencart, PrestaShop, Oscommerce
      all txs pass through their servers and monitoring, to their custodial wallet also directly to your personal wallet

    12. Electrum Merchant - complying with users requirements, with limitations
      no fees for txs, just miner fees
      no plugins developed, but enough documentation for those who know how to integrate code into webs
      all txs goes straight to your wallet, no intermediary, no monitoring

    13. BitcoinWay - complying with users requirements, with limitations
      no fees for txs, just miner fees
      free plugin for Woocommerce, paid plugin for pro version
      all txs goes straight to your wallet, no intermediary, no monitoring
      Attention: developer stop supporting this plugin. Seems that there are no further updates. The plugin works correctly (even if there are some complaining that on their system is not working. They setup wrong the plugin and just complain. For those who just want a simple fast and working plugin this is a good start. Is not tested with segwit wallet!

    14. GoURL - NOT complying all users requirements
      tx fees 1,5%, free subscription
      free plugins for many e-shop platforms
      all txs pass through their servers and monitoring, to their custodial wallet

    15. BTCPay - complying with users requirements, with limitations
      no fees for txs, just miner fees
      free plugins/integration for major e-shop platforms see more details here
      all txs goes straight to your wallet, no intermediary, no monitoring
      Attention: need some help from specialists and setup a server. It is a fork of Bitpay system.

    submitted by /u/Bitcoin-Yoda
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    this website changes the music and mood based if Bitcoin (and others) are bullish or bearish

    Posted: 17 Mar 2018 06:16 PM PDT

    Sad payment choices for "Bitcoin"

    Posted: 18 Mar 2018 02:01 AM PDT

    Recently tried buying a gift card on Gyft.com and apparently the only choices for payment with Bitcoin is with either Coinbase or BitPay.

    I don't have a Coinbase account and one is required to pay with Bitcoin. This makes NO sense. I already have a Bitcoin wallet, why am I forced to use Coinbase? Whatever, so I tried to sign up for a Coinbase account, and apparently they require a bunch of personal information including your phone number which there is no way in hell I'm giving anyone this private data. Screw Coinbase.

    So then I look at payment with BitPay and it's clearly Roger Ver Bitcoin Cash promoter, saying they are going to charge extra fees just for using real Bitcoin during a time when mining fees are at an all-time-low. What the hell is this? Why would they even list a scam like Bitcoin Cash along side Bitcoin? Do they not do any due diligence?

    Really disappointing.

    Am I the only one wondering what the hell happened to the promise of Bitcoin as payment without being managed by authorities? I feel like this whole experience is managed by BitPay and Coinbase.

    It sure doesn't take long for principles to get ignored in the quest for market share.

    But, I think there is an opportunity here for some player to come in and really expand the real Bitcoin ecosystem while these terrible systems using BitPay and Coinbase die off.

    I really think these systems are 100% antithetical to what Bitcoin is and why people are actually interested in it to begin with.

    As long as Coinbase and BitPay are the middlemen of payments, we the people lose.

    We really need to highlight parts of the economy that are amazing and true to autonomic authority-free payments, and continue to warn others against these pseudo-Bitcoin systems that are really just a bad version of Paypal or Apple Pay.

    I am really excited when businesses decide to accept Bitcoin payments, but most of the time it seems like principles and ethos and community are all ignored and the only reason they are accepting Bitcoin are for gimmicks and anti-consumer traps.

    /rant

    submitted by /u/ForBitcoinCom
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