Bitcoin Daily Discussion, June 18, 2018 |
- Daily Discussion, June 18, 2018
- How many Billions did Satoshi need to raise to launch Bitcoin correctly? I think it was around $0 Billion
- Some people are still paying over 1400 Sat/byte (~$22) transactions while 1 sat/byte ($0.016) are going through in the next block.
- Bit Gold 1998 - Nick Szabo Bitcoin 2008 - Satoshi Nakamoto
- This is where the magic happens at satoshis.place. An SBC tucked in a cupboard, processing 6.5k microtransactions so far and counting (~ during 1 week). This is what decentralisation looks like. Run your own node. #Bitcoin
- A Reminder That Bitcoin Will Always Be Here
- Russia's Largest Banks Are Piloting Bitcoin and Crypto Portfolios
- Correlation between Reddit Daily Discussion Comments and BTC Trading Volume
- Finally dipping my toes in BTC, very excited and grateful!
- Satoshi "The Patent Machine" Nakamoto
- The propaganda is real, buy their fear: "Agustin Carstens, general manager of the BIS, has described bitcoin as “a combination of a bubble, a Ponzi scheme and an environmental disaster”.
- Bitcoin price in June
- Just some quick and very interesting math. $150 worth of btc today is the worlds smartest insurance plan on the future.
- ⚡ Cool Lightning-enabled candy dispenser
- Bitcoin Could Break the Internet, Central Bank Overseer Says .. lost me at "88-year-old institution in Basel, Switzerland, that serves as a central bank for other central banks"
- Spotted on the London Underground
- Could Cryptocurrency change the International Economic System?
- Just used Joltfun for the first time! ⚡
- Ledger Vaults ��
- A friendly reality check
- Why 21 million bitcoin?
- Bitcoin, not "Blockchain"
- With all the positivity on this sub, just remember to invest intelligently.
- Does the NSA writing Sha-256 raise any suspicion?
- Forget your Indicators - This is the real (fundamental) reason to be BoB - Bullish On Bitcoin!
| Daily Discussion, June 18, 2018 Posted: 18 Jun 2018 02:00 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
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]  | ||
| Posted: 17 Jun 2018 01:02 PM PDT
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| Posted: 17 Jun 2018 08:14 PM PDT
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| Bit Gold 1998 - Nick Szabo Bitcoin 2008 - Satoshi Nakamoto Posted: 18 Jun 2018 01:00 AM PDT
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| Posted: 17 Jun 2018 04:08 PM PDT
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| A Reminder That Bitcoin Will Always Be Here Posted: 17 Jun 2018 01:39 PM PDT Bitcoin will be here when you die, when you sell, when you buy. The network will live on for you, your children, your children's children. It doesn't matter if the price is $5, $20, $900, $500, $50,000, $10,000, Bitcoin lives on. Quantum computers? It needs 1500 quantum bits to BARELY affect it. We barely have one that works and it's only at 50 quantum bits, and sure, they can spend trillions of dollars to even TRY to hurt the Blockchain Network, and we can EASILY just fork it to where it was. Also, a reminder that quantum bits use sodium ions that goes away right after it's used for ONE calculation, not even going to mention how almost impossible it is to stop the noise of that calculation or the necessity to keep a quantum computer at near 0 degrees when there's 1500 quantum bits. Also, Bitcoin can have quantum proof algorithms. Look at all the progress we've accomplished this year alone. This is just a beginning. There are people in EVERY COUNTRY in the world who owns Bitcoin and cryptocurrencies. And this can only grow. Bitcoin is too big to fail. With you, or without you. [link] [comments]  | ||
| Russia's Largest Banks Are Piloting Bitcoin and Crypto Portfolios Posted: 17 Jun 2018 10:28 PM PDT
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| Correlation between Reddit Daily Discussion Comments and BTC Trading Volume Posted: 18 Jun 2018 02:46 AM PDT
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| Finally dipping my toes in BTC, very excited and grateful! Posted: 18 Jun 2018 12:27 AM PDT TL;DR: This subreddit has been awesome, my friend has been amazing telling me about Bitcoin, and I decided to get involved in my own limited way! I've been following Bitcoin for a few years now. At first I loved it for the technical aspects, as a programmer it was fascinating to me. I played with the mining idea to see if I could use in other ways, like games. I've even been experimenting with creating a distributed database based on the blockchain. I met a coworker 4 years ago who was a bitcoin fanatic, and I talked with him about it often. He's an anarcho-capitalist who believes Bitcoin to be the future. We had some great debates, and I slowly turned. We've been great friends even after we stopped working together. He taught me about where Bitcoin stands, not just as technology but as an idea, about what fiat currency means, all that jazz. This year, on his birthday, I decided to get him some Bitcoin. I got him 1 satoshi for every day he was alive! So I went to a bitcoin ATM, got the minimum amount, printed off an extra couple keys, went home and learned how to transfer it. The remainder I decided to keep for myself, as my first ever coins. Then I did was the internet suggested, generated my own wallet and swept the remainder into it (and gave .2mBtc to my partner!). This subreddit has been interesting for years, and now it turns out it's been really useful, so thank you for that, everyone! I know it's not much, but here it is in all it's glory... MY wallet! 1PKPADd5ahbbaTE7pj9iuPtDUekTJN629m - Yes, I picked it because it had the prefix "PKPAD", and that just sounds cool and is easy to spot. Needless to say I'm very excited. I'm thinking I'll be putting a bit of my paycheck every month into it, and never converting back into fiat. If I spend any Bitcoin, it'll be at a place that accepts it (taking recommendations!). I'm pretty large in debt right now, because life, but I'm working hard at getting it down and never getting into debt again. However, I figured I can safely put about 4% of my income into my wallet every month, a bit more if I manage to finally quit smoking! Thanks for reading, I know it's a ramble, I just had to share. I'm working on memorizing my 12 words as we speak so I can burn the paper! :) One more thing, if anyone knows any Bitcoin-related programming projects that need to be made or would benefit from another coder, please let me know. I'm happy to contribute, especially if there's anything in Go. [link] [comments]  | ||
| Satoshi "The Patent Machine" Nakamoto Posted: 18 Jun 2018 12:42 AM PDT
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| Posted: 17 Jun 2018 03:44 PM PDT
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| Posted: 17 Jun 2018 05:17 AM PDT
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| Posted: 17 Jun 2018 12:15 PM PDT Total money stock in the world is currently $84 trillion. $84 trillion ÷ 7 billion people = $12,000 We wont have 21 million coins in existance for our lifetimes, and I am guessing if bitcoin does end up dominating as global money it will take no more than another 20 years to do so, so lets use a conservative number of bitcoins, taking into account estimates of lost coins. Call it 19,000,000. 19 million ÷ 7 billion people = 0.0027 bitcoin. In essence this means if bitcoin works and dominates as global money sometime over the next 20 years then 0.0027 bitcoin will purchase the same amount of goods and services that $12,000 purchases today. $12,000 × 83.33 = $1,000,000 0.0027 btc × 83.33 = 0.225 bitcoin Conclusion: Even you hate bitcoin you need to admit that no one knows what the future holds. So there is no way of knowing if bitcoin will work or not. Think of bitcoin ownership as insurance on the future. Today you can purchase 0.225 bitcoin for $1460. If bitcoin dies well you lost some money but it wont affect your life drastically, but if bitcoin works you have guaranteed yourself a $1 million dollar "equivelant" fortune. Today you can purchase 0.0225 bitcoin for $146. If bitcoin works this would give you an amount of bitcoin in the future that would purchase the same as $100,000 does today. If bitcoin dies you lost $146, so what. I know people may pick holes in this math and subsequent conclusion. But my point remains the same. Owning even a tiny amount of bitcoin today like 0.0225 btc is insurance on the future. Even if I thought bitcoin would never work it would be stupid of me not to buy $150 worth just incase I was wrong. [link] [comments]  | ||
| ⚡ Cool Lightning-enabled candy dispenser Posted: 17 Jun 2018 02:48 PM PDT
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| Posted: 17 Jun 2018 11:15 PM PDT
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| Spotted on the London Underground Posted: 17 Jun 2018 01:04 PM PDT
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| Could Cryptocurrency change the International Economic System? Posted: 17 Jun 2018 08:56 PM PDT
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| Just used Joltfun for the first time! ⚡ Posted: 17 Jun 2018 08:24 PM PDT I read about the website this morning on this sub, gave it a go. This post was just to thank the community for its ongoing education [link] [comments]  | ||
| Posted: 17 Jun 2018 07:10 PM PDT
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| Posted: 17 Jun 2018 12:26 PM PDT I'm a relative newbie that got in just before the Thanksgiving bull run of 2017. I love Bitcoin. It has completely changed my life for the better. But... I work retail. I process payments for our customers on a daily basis. Our particular store uses chip readers for credit/debit cards and it gives lots of people issues. They put their cards in backwards or upside down. They select the wrong payment information or enter their PIN incorrectly. They pull their card out before the payment has been processed. EVERY DAY. My point is that we have a long way to go before Bitcoin can become widely adopted, maybe even decades. Lengthen your time horizon. Stop checking the price on a daily basis. I believe in the tech. I'll continue to be an advocate for Bitcoin, but it's going to take time. Patience is a virtue after all :) Hodlgang Hodlgang Hodlgang [link] [comments]  | ||
| Posted: 17 Jun 2018 11:04 PM PDT
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| Posted: 17 Jun 2018 12:19 PM PDT
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| With all the positivity on this sub, just remember to invest intelligently. Posted: 17 Jun 2018 11:28 PM PDT We're here because we all believe in Bitcoin, and we all want it to succeed. I just want you all to remember, you're all surrounded by individuals in the same boat as you. This community is HODL meme after HODL meme. This sub is barraged with instances of Confirmation Bias, Survivorship Bias, Gambler's Fallacy, and so on and so fourth. It's a treasure trove of biased, and often imtes misinformation hammering you with everything bull related. I've been that guy who's lost 90% in minutes on an asset (See NVAX Sept '16). So it's important to remember to not invest more than you can afford to lose, not be afraid to cut your losses, set a bottom line (stop loss), Dollar Cost Average, and most importantly not fall prey to any of the fallacies we see so much on this sub. Do your research outside this sub and come up with an original thought after seeking unbiased sources. Meme's are fun and this is a great community, but this isn't monopoly money and I don't want to see anyone's families ruined, homes foreclosed on, or anything else because they got caught up in the Lambo, Moon, Hodl dream. I'm not telling anyone to sell, I'm not telling anyone not to sell, I'm just reminding everyone to invest wisely. [link] [comments]  | ||
| Does the NSA writing Sha-256 raise any suspicion? Posted: 18 Jun 2018 01:08 AM PDT On the noob side of the technical aspect of things. I understand that the NSA wrote the Sha-256 hash and that Satoshi used it apart of the mining algorithm. Does this raise any type of concern or suspicion that higher intelligence agencies might have a bigger role in bitcoin that we don't know about? Or is the sha something that many other people made a use out of and it has no direct correlation with the NSA, kind of like it's just some open source code they created and others can use it ? I just don't know what to think knowing a part of the code is from the NSA. I have zero trust in the US goverment especially the higher intelligence agencies, they are way to powerful and have way to much control. [link] [comments]  | ||
| Forget your Indicators - This is the real (fundamental) reason to be BoB - Bullish On Bitcoin! Posted: 18 Jun 2018 12:03 AM PDT
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