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    Bitcoin Daily Discussion, July 01, 2018

    July 01, 2018

    Bitcoin Daily Discussion, July 01, 2018

    Daily Discussion, July 01, 2018

    Posted: 01 Jul 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.

    We have a couple chat rooms now. Come say hello.

    Please check the previous discussion thread for unanswered questions.

    submitted by /u/rBitcoinMod
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    All I can afford right now thanks to Bitcoin, from the bottom of my heart.

    Posted: 30 Jun 2018 01:37 PM PDT

    Bitcoin Historical Corrections

    Posted: 30 Jun 2018 06:02 AM PDT

    Bitcoin ATM at Amsterdam airport

    Posted: 30 Jun 2018 08:25 AM PDT

    This aged well (January 10, 2016).

    Posted: 30 Jun 2018 09:31 PM PDT

    A coffee in Venezuela now costs 1,000,000 bolivars. Rely on Bitcoin, not Banks.

    Posted: 30 Jun 2018 04:02 PM PDT

    This is a sign of things to come

    Posted: 30 Jun 2018 05:00 PM PDT

    Amid 40,000% annual inflation, Bitcoin price surges 15,3% in Venezuela last week. Bitcoin volume increase in 3% to 494 BTC

    Posted: 30 Jun 2018 11:40 AM PDT

    A recent university study found that about 90% of civilians were living in poverty last year and most of those surveyed had lost an average of 25 pounds in body weight

    More people is using Bitcoin in Venezuela every day to overcome the economic controls that government imposed that turned the majority of us into poors.

    submitted by /u/Windows7733
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    Found in random Liquor store in Miami

    Posted: 30 Jun 2018 05:44 PM PDT

    Review On South Korea's Cryptocurrency Standpoint Go Become Harbor For Blockchain | Asia Crypto Today

    Posted: 30 Jun 2018 06:02 PM PDT

    Who keeps sending these 1000+ sat/byte transactions?

    Posted: 01 Jul 2018 02:17 AM PDT

    Who literally sends 1000 sat/byte transactions? 1 sat/byte transactions also go through every block!

    All people say: ''Bitcoin fees are too high!'' YOU CAN LITERALLY SEND WITH 1000 times less fees!

    These high fees make every block have at least 0.5 BTC more rewards thus increasing the supply for big miners which decreases its value. Thats because big miners tend to sell more often.

    Here is the mempool of bitcoin: https://jochen-hoenicke.de/queue/#1,2h

    submitted by /u/AIec18
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    Last 2 times in 2018, BTC took 15 days & 30 days to reach 10K from 6K Price level :-)

    Posted: 30 Jun 2018 11:21 PM PDT

    Andreas Antonopoulos Says Lightning Network Solves Bitcoin Scaling Issues

    Posted: 30 Jun 2018 04:32 AM PDT

    Let's convince CD Projekt (gog.com) to accept Bitcoin for Cyberpunk 2077

    Posted: 30 Jun 2018 08:00 AM PDT

    Crypto is living the cyberpunk dream in reality.

    submitted by /u/jeriho
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    German court rules negative interest rates on fiat retirement plans legal

    Posted: 30 Jun 2018 12:06 PM PDT

    A retirement savings plan by a German bank promised positive returns, but allows them to add negative interest rates, which eats up the return. A court ruled that to be completely legal. News article in German: https://www.tagesschau.de/wirtschaft/riester-105.html

    Fiat is a rat race you can never win. The only winners are the ones who control the fiat system.

    submitted by /u/bitsteiner
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    I like the fact that when bitcoin is $6000 it's crashing !

    Posted: 30 Jun 2018 06:37 AM PDT

    Still remember the $10 days !

    submitted by /u/Farghaly
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    More U.K. male millennials would choose Bitcoin over property.

    Posted: 30 Jun 2018 09:26 AM PDT

    Nice to see Australia and Boost Juice getting into the swing of things in with Bitcoin in 2018.

    Posted: 01 Jul 2018 03:53 AM PDT

    Why do financial regulators need to learn their lessons with Bitcoin the hard way?

    Posted: 01 Jul 2018 01:40 AM PDT

    2008-2018 debt crisis has positioned Greece among those EU states (together with Spain, Italy and Cyprus), which financial gate-keepers had publicly revealed their inability to face the challenges of the new, open, technology-based XXI century's economy. Additionally, Greek banking system near-collapse in 2015 led to the astronomical surge of crypto-currencies' popularity.

    Greece authorities' long-lasting reliance on EU fractional-reserve, highly centralized banking system led to the complete unraveling of country's financial markets. National debt skyrocketed and international creditors shut their doors to Greek's counterparts. The government reacted by trying to postpone June 2015 installment to IMF. Massive panic ensued with population racing to empty their banks' accounts. In response Syriza's cabinet introduced capital control regime, which limited withdraws to 120 EUR per week. No wonder, then, that so many Greeks saw the light those days and started to convert their savings into Bitcoins.

    It came to the point where Tsipras cabinet closely considered an option to use Bitcoin as the anti-austerity measure. That didn't happen, however, but, thanks to this crisis Bank of Greece position on crypto-currencies became significantly less hawkish, compare to that of their EU mates. When BOG issued its first, February 11, 2014 memorandum on Bitcoin it turned out that its content and wording are both measured and thoughtful.

    This positive trend was reinforced in February 2018, when BOG stated the following: "Given that virtual currencies, such as Bitcoin, are still at the forefront of publicity and with a view to informing the public of the risks associated with their use, including the loss of money, the Bank of Greece refers to the recent Communication from the European Banking Authority (EBA).". It easy to see how this type of matter-of-fact statements is more professional than FUD spread by many other EU central bankers.

    Notwithstanding, it hasn't yet led to the massive adaption of crypto by Greek population. Neither it resulted in Bitcoin to be declared a legal tender in this country. Greece official position on crypto is, still, the caution one, and it's unlikely to change without the consent of the ECB. Meanwhile, Bitcoin stays in a gray, "unregulated" zone in Greece.

    Business Notes for Startups Founders:

    political climate: friendly; economic climate: not friendly; regions to focus: locally, Eastern Europe, EU; industries to focus: e-commerce, FinTech, transport, tourism; major limitations: economy in downfall, very high unemployment (although, it started to slowly fall in 2017), over-regulation, high taxes; stimulus: closeness both to EU and to Eastern markets, relatively low costs of living; opportunities: many; Cryptocurrencies and ICOs (outlook): unregulated (moderately positive). The author: Svyatoslav (Svet) Sedov Angel investor and founder of The First International Incubator for Silicon Valley Companies (FirstInternational.In) in the Bay Area, CA, USA.

    Twitter: https://twitter.com/SvjatoslavSedof

    submitted by /u/svet_sedov
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    Andreas on why Open Blockchains matter: "Open, Borderless, Censorship-resistant, Neutral"

    Posted: 30 Jun 2018 07:37 AM PDT

    Bitcoin — Setup your own ⚡lightning ⚡ node on mainnet!

    Posted: 30 Jun 2018 09:41 AM PDT

    3 days ago, someone bought NakamotoFamilyFoundation•org's domain at Amazon Registrar, Inc. with his passport ID and credit card and, like @ProfFaustus, he's trying now to proclaim himself as Satoshi Nakamoto ������

    Posted: 30 Jun 2018 11:06 AM PDT

    Need Consulting Guys for my final thesis

    Posted: 01 Jul 2018 03:47 AM PDT

    Hello everybody,

    i try to figure out the main advantages of blockchain applications for the international payment in my final thesis. Therefore i want to interview some guys from the Consulting and the finance branche. So if there are some guys of this specific professions and want to help me with my thesis please pm me pls. :)

    Thx in advance.

    submitted by /u/neobljat
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    Bitcoin will be the "Currency of Time"...

    Posted: 30 Jun 2018 01:45 PM PDT

    Bitcoin will be the "Currency of Time"...

    It is my strong belief that "Time" is the most valuable resource that we Humans have access to...

    As Neil deGrasse Tyson so eloquently quoted "Time is defined to make motion look simple"; what he's saying here is that the only reason we have a "need" for the concept of "Time" is to allow us a unit of measurement to describe motion effectively...

    There is evidence that Time is our most valuable resource when you look back in History: The first accountants were "time-keepers" ie. the first astronomers! They first used motion to delineate a unit of time by realizing the Sun that rises and falls, this is presumably the first unit of time ever invented. This smaller unit of measurement (day) was used to delineate and measure other movements of greater celestial objects and eventually it helped us figure out where we were in the galaxy! It is no coincidence the first accountants were accountants of time or "time-keepers", it is VALUABLE!

    A drawing of early astronomers, accounting for \"Time\" by using the motion of celestial bodies...

    They knew not what they were measuring, but they didn't need to know, they saw something repeat; thus a unit of time was created... If you have something that repeats predictably, you've created a time-keeping mechanism...

    One could argue that Time is the only resource we truly "have", but one could also successfully debate that "Time" itself is a tool to help us accomplish things more predictably, thus preserving a bit of Time... This is quite literally the only use we have for Time, it is primarily why we invented it back when our ancestors looked at stars...

    Ask somebody for ALL their Money, and then ask them for ALL their Time, same result?

    If something saves you time, it is money... The reason is because Time IS money... When you buy a pack of bubble gum, you are buying the time necessary to create that product. When you work, you get paid for your time. Time IS money... This is why when you give somebody money and then wait a few years, you should expect a return of some kind, you gave them the money PLUS the time, this is the entire reason why ANY interest EVER is paid on ANYTHING... TIME!

    The man who can waste somebody else's time is truly wicked, but that is a subject for a different post, let's get right to the Hero:

    Lightning Network

    Now that you know the importance of time, and therefore money, you should see the potential lying dormant in the Lightning Network...

    When BILLIONS of people around the world can transact near instantaneously, we will see a compound interest effect upon both the time AND money savings that are offered to ALL of Humanity...

    We have planes that can cross the Atlantic Ocean faster than any form of Global Money; this is truly unacceptable for the 21st Century, Lightning Network will solve this problem, and it will do it quickly...

    HyperBitcoinization was never just about "fast-money", it was about "fast-everything"...

    Buckle up butter-cup, the future is coming!

    submitted by /u/TwitchTV_Allthaea
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    This sub has paid bearish marketing campaigns active.

    Posted: 30 Jun 2018 03:14 AM PDT

    Every time there is a sudden price rise suddenly certain accounts start to constantly post negative Bitcoin articles.

    u/JeremyTremp and u/connorculpin are just two examples of these accounts. Two accounts doing the same thing that both use a full first and last name. Now if you look at their post history:-

    .

    Has Bitcoin Entered the Doom Loop? submitted an hour ago by JeremyTremp

    Bitcoin skids under $6,000, closing in on 60 percent loss for the year submitted an hour ago by JeremyTremp

    Today In Cryptocurrency: Apple Bans Crypto Mining, South Korean Exchange Hacked submitted 42 minutes ago by JeremyTremp

    The other one:-

    https://cointelegraph.com/news/crypto-markets-see-red-after-hack-of-world-s-sixth-largest-crypto-exchange submitted 28 minutes ago by connorculpin

    Bitcoin skids under $6,000, closing in on 60 percent loss for the year submitted an hour ago by connorculpin

    Some Cryptocurrency Investors Are Giving Up on Bitcoin—and Cashing Out of Coinbase submitted an hour ago by connorculpin

    3 Things That Are Holding Bitcoin Prices Down submitted an hour ago by connorculpin

    Bitcoin price news: Why is bitcoin falling? What is the price of BTC today? submitted an hour ago by connorculpin

    .

    I have put absolutely zero effort into this, I clicked "New" and saw a strangely high number of negative posts in spite of the positive news to do with the Bitcoin ETF and the sudden upwards price movement and I checked the profiles.

    This is obviously malicious activity in various Crypto subs right now. I'm not offering any opinion on why this might be or who is responsible, but it clear that it is happening.

    .

    Edit: The mods are doing an excellent job in opposing these, but the fact remains people(s) are trying to do it. I have no doubt on this basis there are "normal" users that are also part of spreading a negative outlook at this time.

    Edit 2: Just found another one u/VeolaRosse, exactly the same name style as the other two, doing the EXACT same thing. This is beyond doubt at this point.

    submitted by /u/bitmaincash
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    Electrum 3.2 (codename: Satoshi's Vision) has been officially released. It includes libsecp256k1 and the Revealer plugin.

    Posted: 30 Jun 2018 08:21 AM PDT
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