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    Bitcoin Daily Discussion, June 03, 2018

    Bitcoin Daily Discussion, June 03, 2018


    Daily Discussion, June 03, 2018

    Posted: 03 Jun 2018 02:01 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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    Ask not what Bitcoin can do for you. What can you do for Bitcoin?

    Posted: 02 Jun 2018 08:13 AM PDT

    Rovereto in Italy, village of 40’000 inhabitants, 70 shops that accept bitcoin! It must be the highest concentration for bitcoin acceptance in the world. That was a real experience of what it will be like in future :)

    Posted: 03 Jun 2018 01:36 AM PDT

    Open source Bitcoin Lightning wallet written in Swift looks great!

    Posted: 02 Jun 2018 07:07 PM PDT

    Romanian Ministry of Education Website Forces Users to Mine Bitcoin and other Cryptocurrencies

    Posted: 02 Jun 2018 11:18 PM PDT

    New Lightning Wallet for iOS and Android that gives you the security and stability of a full LND node. https://github.com/neogeno/shango-lightning-wallet

    Posted: 03 Jun 2018 02:56 AM PDT

    Today in Clearwater Beach, FL

    Posted: 02 Jun 2018 12:03 PM PDT

    The Queensland beach town where you can pay for your holiday in bitcoin

    Posted: 02 Jun 2018 08:28 PM PDT

    Recommended documentary about a financial scam going on right now

    Posted: 02 Jun 2018 10:49 PM PDT

    Last night I saw the documentary "The China Hustle". I would recommend anyone interested in finance to see it. 2008 we hade the subprime boom. This scam is going on right now or at least very recently.

    Forbes review: 'The China Hustle' Is The Most Important Film Of 2018 https://www.forbes.com/sites/markhughes/2018/03/30/review-the-china-hustle/#432fae7f3357

    The film is available on netflix: https://www.netflix.com/title/80221646

    To me this film again shows why the financial system is not to be trusted. You can play with your money there, you can make money there but there is probably always going to be a scam building up. The interesting thing in this movie is that there is noone who broke the law yet a lot of private people lost huge part of their entire life savings to scammers. It's sad to see someone struggling all their life being ripped of their pension at the end of their life and the state doesn't even give a damn or can do anything about it.

    submitted by /u/Warbarons
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    Just Finished my Crypto Apparel Website and we ONLY Accept Bitcoin for Payments!

    Posted: 02 Jun 2018 09:51 PM PDT

    NO FIAT allowed on my site! We currently Only accept Bitcoin.

    Just thought I'd share in hopes it gets more people involved with Bitcoin. I really hope this motivates others to take the initiative and completely switch to only accepting Bitcoin.

    If you guys want to check out the site it is:

    https://cryptoonlyshop.com

    Let me know how it looks,

    Thanks!

    submitted by /u/Hugh_Jazz699
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    lol he's sick of the bear market

    Posted: 02 Jun 2018 05:17 PM PDT

    BTC missing from CoinCap App today ?

    Posted: 03 Jun 2018 03:00 AM PDT

    We are already growing faster than the number of internet users at that time! great comparison

    Posted: 02 Jun 2018 04:25 PM PDT

    Venezuela weekly update: Minimum wage in Venezuela is 1.3 USD per month (1 USD less than last week). One USD is around 2,000,000 Bs. (Bolivares) (last week was 1,400,000 Bs.). Inflation is around 25,000%, living here!

    Posted: 02 Jun 2018 06:32 AM PDT

    Hi guys, I'm living here surviving and documenting everything (you can check my older posts).

    LocalBitcoin traded 474 Bitcoin last week (which is 4,913,249,752,178 Bolivares)

    https://coin.dance/volume/localbitcoins/VEF/BTC

    https://www.forbes.com/sites/stevehanke/2018/05/31/venezuelas-inflation-breaches-25000/#475553106d57

    Government wanted to shave off 3 zeroes this weekend but none was prepared as it was a rushed decision it was delayed two months. So we expect ridiculous prices with a lot of zeros next weeks.

    submitted by /u/WorkingLime
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    Bitcoin's picture as the "future of payment" on IMF's homepage

    Posted: 02 Jun 2018 09:46 PM PDT

    This aged well

    Posted: 03 Jun 2018 01:19 AM PDT

    Full node on Raspberry Pi, can USB block erupter help?

    Posted: 03 Jun 2018 03:47 AM PDT

    Hi,

    I'm currently getting started full node on Raspberry Pi. I know the performance is not the best especially for syncing the blockchain but I'm wondering if the USB block erupters could help with the performance.

    I guess the biggest bottleneck is small amount of memory but still if block erupters could help with hash computing maybe everything would go a bit faster.

    Does bitcoind support it?

    submitted by /u/emreddit
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    'Panic' on the Horizon But Bitcoin Can Become The Global Currency

    Posted: 03 Jun 2018 03:45 AM PDT

    BTC missing on COINCAP dafuq is going on?

    Posted: 03 Jun 2018 03:23 AM PDT

    What is the purpose of the merkle root?

    Posted: 02 Jun 2018 12:27 PM PDT

    I thought that the merkle root was there provide immutability, but I don't see this being necessary as the proof of work hashes the previous block. Hashing the previous block means that all the transactions in the previous block are hashed as well and any changes to a transaction are thus prevented if an adversary were to attempt to tamper with it. I'm sure that the merkle root has a purpose, so I'm hoping that someone could explain it to me.

    submitted by /u/Newbzorg
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    Idea For Secure Online Seed Storage.

    Posted: 02 Jun 2018 06:16 PM PDT

    I currently store my seeds on paper, in a fire/water proof container, in a hidden location. This is fine as long as it is not stolen or dissolved by time. The scenario that does not work for this setup is if I am away and my hardware wallet is lost, broken, confiscated, etc. and I cannot get back to my paper keys.

    Ideally, I want to keep my keys online where I can retrieve them from anywhere with internet access. I know the first rule of Bitcoin is do not expose your keys online... but what if I encrypt my seed (i.e. AES-256) using a SHA-256 hash - of course doing this offline and air-gapped. Then all I need to do is store that ciphertext and the hash "somewhere" online in different locations. Then I would be able to recreate my seed phrase from anywhere with an internet connection. The ciphertext and hash could be embedded into any of several blockchains in a variety of different ways, I would only need to remember which blockchain and corresponding block number.

    For someone to hack this strategy they would need to know these two pieces of data, that would only exist in a few human brains.

    1. Where the ciphertext is stored
    2. Where the SHA-256 hash is stored

    OK, that's the setup, now bring on the hate. What is wrong with this plan, how is it insecure, how is it worse than the "paper" plan?

    Extra points if you just offer criticism with no explanation!

    To make it interesting I have encrypted the seed phrase for a wallet with 1.0 BTC using a SHA-256 hash, here it is.

    And here is the ciphertext, the hash is "somewhere" online. If you can decrypt this and get the seed phrase you can collect my Bitcoin.

    d01da1885a5f6d23d6c1473870bb427fb99e7197c74b24ba278b5e4cb8a5386762f735ca55b5d9faff63061c9510f6d7c2714fba5f7d7f9d80abeb83d2824c658cbcba1990b5f98347db8b54437c1cd53a9b2a2d5b6a69694570ae39f70361dc550fb54c1b68b0d1577b9dd2991218c4d313dc11955146193a3357fd89feb4268191405575d045f0ac4ec8fd8fec0487ddc0e2562c207dd2e2963eec5f

    submitted by /u/PRFinklemeister
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    Investing INTO BTC

    Posted: 03 Jun 2018 01:44 AM PDT

    Hey, is it still worth it to invest on BTC?

    submitted by /u/iphone16
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    Large sum of Bitcoin/crypto trading?

    Posted: 03 Jun 2018 01:18 AM PDT

    hello there

    im pretty new to crypto but i think i know what im doing and while looking trough other markets where i could trade a question popped into my head. how do bitcoin millionaires manage to trade all their stuff on trading websites when the volume is just a few million dollars?

    yea i get that you dont trade all your stuff at once but i figured that the trading volume should be way bigger than it is if you have rich fuckers trading on there?

    submitted by /u/AverageLedditor
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    Fundstrat Strategist Believes Bitcoin Could Be Bottoming (aka - this is not the time to be selling!)

    Posted: 02 Jun 2018 05:19 PM PDT

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