Bitcoin Daily Discussion, November 26, 2018

Daily Discussion, November 26, 2018
After Bitcoin rises 5% after 40% drop
You never know
To those who sold the bottom
Monday Art (Etsy ed. pt. 1) - WoodlandAndRose
r/Bitcoin is currently full of sock puppets paid to make you sell your Bitcoin. Check every FUDster's reddit history. Draw your own conclusions.
Anti-Bitcoin people are complaining that the state of Ohio isn't hodling their BTC. But they also complain that hodlers refuse to spend their BTC. They are trying to have it both ways.
Ohio state treasurer declares Bitcoin a "legitimate form of currency"
US State of Ohio to Accept Bitcoin as Tax Payment
Bitcoin crash alright but remember John McAfee prediction and consequence
This video was uploaded 7 years ago
Just got into BTC!
2018 Crypto projects be like:
Watch everyone FOMO back to BTC as the hash wars are over and suddenly now the sheep realize: *oh shit* BTC is heavily undervalued and oversold ��
Bitmain maybe bankrupt by year end?
Gold, Bitcoin, USD, and Inflation
Roppongi hills Tokyo ❤️ HODL
Tobacconists In France Authorized To Sell Bitcoin In 2019
Bye bye BCash: good riddance to bad actors – hard analysis of BCash blockchain metrics signaling the demise of its chain
Future Bitcoin ETF 'Definitely Possible' According to One SEC Commissioner
Ohio set to become the first U.S. state to accept bitcoin for tax bills - The Block
The Courage to Innovate Without Permission - Noobs, this is what is Bitcoin, not TAs, lambos and shitload of worthless fiat money
A Worldwide Debt Default Is A Real Possibility
600K Bitcoin Miners Shut Down in Last 2 Weeks, F2Pool Founder Estimates
I hope you guys are hanging in there here’s a meme to cheer you up.

Daily Discussion, November 26, 2018

Posted: 25 Nov 2018 11:00 PM 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!

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!

Please check the previous discussion thread for unanswered questions.

submitted by /u/rBitcoinMod
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After Bitcoin rises 5% after 40% drop

Posted: 25 Nov 2018 10:08 PM PST

submitted by /u/ddas244
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You never know

Posted: 25 Nov 2018 05:53 AM PST

submitted by /u/petateom
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To those who sold the bottom

Posted: 25 Nov 2018 02:45 PM PST

submitted by /u/WhiskeyTango311
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Monday Art (Etsy ed. pt. 1) - WoodlandAndRose

Posted: 25 Nov 2018 10:21 PM PST

submitted by /u/tldr-hodl
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r/Bitcoin is currently full of sock puppets paid to make you sell your Bitcoin. Check every FUDster's reddit history. Draw your own conclusions.

Posted: 25 Nov 2018 02:10 PM PST

submitted by /u/ricardoschiller
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Anti-Bitcoin people are complaining that the state of Ohio isn't hodling their BTC. But they also complain that hodlers refuse to spend their BTC. They are trying to have it both ways.

Posted: 25 Nov 2018 11:20 PM PST

Just an observation. Some people will want to hoard, some won't. Both are valid actions, depending on your personal ideals and financial situation.

submitted by /u/Exhib88
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Ohio state treasurer declares Bitcoin a "legitimate form of currency"

Posted: 25 Nov 2018 05:14 PM PST

submitted by /u/MICKYNewsOz
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US State of Ohio to Accept Bitcoin as Tax Payment

Posted: 25 Nov 2018 09:14 PM PST

submitted by /u/cryptofameio
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Bitcoin crash alright but remember John McAfee prediction and consequence

Posted: 25 Nov 2018 07:59 AM PST

submitted by /u/cryptokap
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This video was uploaded 7 years ago

Posted: 26 Nov 2018 12:15 AM PST

submitted by /u/lazydogass
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Just got into BTC!

Posted: 25 Nov 2018 06:23 PM PST

I just bought $100 worth of Bitcoin a few minutes ago, not sure if it's a good choice but I've been beating myself up since I passed buying $300 worth of Bitcoin mid-2016 and decided to finally try it. I'll probably keep it for some time and see what happens - hopefully I won't become obsessed and check prices daily.

I have a question for you guys, what's the story of how you first got Bitcoin? Share em below, I'm sure there are interesting ones :P (hoping this doesn't sound like one of those essays your teachers make you write)

submitted by /u/cmajorlips
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2018 Crypto projects be like:

Posted: 25 Nov 2018 11:26 AM PST

submitted by /u/kingverso
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Watch everyone FOMO back to BTC as the hash wars are over and suddenly now the sheep realize: *oh shit* BTC is heavily undervalued and oversold ��

Posted: 25 Nov 2018 01:49 PM PST

Grab the popcorn 🍿

submitted by /u/John_the_Cashist
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Bitmain maybe bankrupt by year end?

Posted: 25 Nov 2018 11:34 PM PST

Breaking: Our insider says Jihan is furious at BCH-SV for costing him massive in hash war. With Illiquid BCH collapsing, Jihan is running out of cash and has to pay TSMC. TSMC CFO issued ultimatum, pay or we cut you off for good! Bitmain maybe bankrupt by year end? #bitmainipo ?

https://twitter.com/btcking555/status/1066642708100452353

submitted by /u/i_gotta_say
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Gold, Bitcoin, USD, and Inflation

Posted: 25 Nov 2018 03:42 PM PST

Hello everyone. I would like to post a little bit of research I've conducted about Gold, Bitcoin, the USD, and inflation.

First I'd like to define what inflation is. I'm not talking about the Consumer Price Index (CPI), or the Personal Core Expenditures Index (PCE). These are measures of a change in the relative price of a chosen selection of goods. They are often used for headline inflation numbers, and a modified version of the PCE is what the Federal Reserve currently uses to help gauge "inflation" in the United States. This is that 0% to 2% figure you often hear about.

I'm talking about monetary inflation. This is the inflation of the supply of money, also called "money stock", for a given currency. If there are 100 dollars and we print 5 in a year we have a monetary inflation rate of 5%. This is important because if all five of those dollars went to a hermit in the woods they would have no impact upon price levels. All else held equal this would result in a price-level inflation rate of 0% v. a monetary inflation rate of 5%. This is very important to remember as we talk about the individual currencies.

Gold. Gold is the old-school currency that pirates and nations fought over for a long time. As far as I can tell current supply is stated to be around 170,000 tonnes. 1 tonne is 35,274 ounces, and one ounce of gold will cost you about $1250 in today's market. Add all this up and we come to a total gold market capitalization of about $7,500,000,000,000, or $7.50T. Depending on who you ask about 2500 to 3000 tonnes of gold is mined annually, or about 1.5% of the current supply per year.

Bitcoin. Bitcoin is the new-school currency that a lot of people have a lot of differing opinions on. Current market supply is around 17,400,000BTC and the price as of this posting is about $4,000 per coin. This gives us a market capitalization of a little less than $70,000,000,000, or $0.07T. Current production is around 657,000BTC per year for an inflation rate of around 3.8%. This rate will cut in half around May of 2020 at a supply of around 18,400,000 giving a new inflation rate of roughly 1.8%. This rate will again halve around 2024 to around 0.8%.

United States Dollar. The USD is one of the most accepted fiat currencies worldwide. International business is often conducted in it, and commodities are often priced in it. There are currently around $14,275,000,000,000, or $14.28T, outstanding according to the US Federal Reserve's M2 Money Stock publication. With some variation this amount has grown somewhere around 5% to 6%/yr for nearly 80 years on the long-term average. This 5% to 6% figure is our monetary inflation rate for the USD.

Here is a table to compare these figures. The final figure is the number of years for the supply to double.

Measurement	Gold	Bitcoin	USD
Inflation	1.5%	3.8%	5.5%
Market Cap	$7.50T	$0.07T	$14.28T
Supply 2x	~48yrs*	~19yrs**	~13yrs

* Gold's supply is limited by how much there is in the ground. This amount is not agreed upon.

** Bitcoin has a limited supply of 21,000,000 coins that will be reached some time around the year 2140.

I will refrain from drawing conclusions here as that is not my intent. I provide this information in the hope that you, the reader, will look further into these three units, their history, context, and use, and draw your own conclusions about their future.

Thanks for reading!

submitted by /u/gta3uzi
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Roppongi hills Tokyo ❤️ HODL

Posted: 26 Nov 2018 12:31 AM PST