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    Bitcoin Daily Discussion, December 06, 2018

    December 06, 2018

    Bitcoin Daily Discussion, December 06, 2018

    Daily Discussion, December 06, 2018

    Posted: 05 Dec 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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    But two months later I'm still holding it...

    Posted: 05 Dec 2018 06:03 PM PST

    Cheating altcoins

    Posted: 06 Dec 2018 01:13 AM PST

    Lightning network has grown 10,000% since February. Went from 4 BTC channel capacity to over 450 BTC

    Posted: 05 Dec 2018 08:25 AM PST

    How Many Dollars Did The Federal Reserve Print Today?!?

    Posted: 05 Dec 2018 07:08 PM PST

    We DON'T KNOW.

    enough said.

    submitted by /u/WeAreSatoshiWSX
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    Denmark has over 1,500 restaurants that accept bitcoin

    Posted: 06 Dec 2018 02:49 AM PST

    Little lightning giveaway for the first 200

    Posted: 05 Dec 2018 10:49 PM PST

    Hey guys, I thought I would spread some awareness about the lightning tipping bot we have in here

    https://www.reddit.com/r/lntipbot/wiki/index

    So the first 200 users to comment on the post will get 1k sat from me via the bot.

    Let's do this!

    submitted by /u/jeffjefferson3000
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    'Bitcoin Death Inevitable, Likely to Fall to Negative Price Levels or Lower, Say Experts'

    Posted: 05 Dec 2018 09:38 PM PST

    Just thought I'd do the work for Reuters and Bloomberg, hate to see those assholes have to work for a living and write their own headlines.

    submitted by /u/Marcion_Sinope
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    You can now withdraw from Poloniex to bech32 address

    Posted: 05 Dec 2018 06:21 PM PST

    just tried and it went through. There's no good reasons to hold back from using this future format.

    submitted by /u/SnapshillBat
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    If you use Bitcoin as a payment solution, it is tax free in Denmark. If you sell for fiat (speculation) you pay 53-65% of your profit in tax.

    Posted: 05 Dec 2018 06:47 AM PST

    Watch live large Bitcoin market trades from all major exchanges in real-time!

    Posted: 05 Dec 2018 08:51 AM PST

    Digital Gold!

    Posted: 05 Dec 2018 01:03 PM PST

    Singaporeans lost $78,000 through Bitcoin Investment scams in 3 months

    Posted: 05 Dec 2018 10:22 PM PST

    Reject Nocoiner Orthodoxy

    Posted: 05 Dec 2018 11:58 PM PST

    "Everyone wants to live at the expense of the state. They forget that the state lives at the expense of everyone." - Frederick Bastiat | Bitcoin = True Independence.

    Posted: 05 Dec 2018 10:43 AM PST

    Is there a way to get an idea /stats/ about how many transactions go per day on the Lightning Network?

    Posted: 06 Dec 2018 02:20 AM PST

    Recommended Lightning Wallets? (mobile)

    Posted: 05 Dec 2018 09:44 PM PST

    Hey guys, Im looking for lightning network wallets given there are many scams.
    Any of these: http://lightningnetworkstores.com/wallets
    Which do you use / recommend? thanks.

    submitted by /u/chelo_c
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    Santa's carrying a heavy bag of Coldbit Steel metal wallets

    Posted: 06 Dec 2018 03:03 AM PST

    Santa's carrying a heavy bag of Coldbit Steel metal wallets

    Dear Redditors!

    Recently we've launched an online shop selling Coldbit Steel metal wallets for Bitcoin (seed backup).

    It's a 4mm thick stainless steel plate covered with 2mm thick plate secured with nickel bolts. You can get letter German quality stamp sets and properly sized hammers as well (everything you need to stamp your wallet seed forever in steel). Instead of assembling the letters you get to punch them with a hammer. It's a very satisfying and calming activity, because you know no matter what the letters won't move or scramble. Here's a stamping tutorial.

    The wallet is a perfect companion for your Trezor or Ledger. It will survive a house fire, flood and being buried in the ground for decades. A metal wallet is an essential part in the Toolbox of Financial Freedom of every serious Bitcoin hodler.

    To celebrate the launch here's a 20% discount code: reddit20

    This code grants free shipping worldwide and expires on the 10th of Dec 2018.

    Special bonus to LN users: Anyone who manages to pay with Lightning (choose payment via Bitcoin -> Lightning) will receive 100,000 satoshis back per order.

    Coldbit Steel

    submitted by /u/hosiawak
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    BTC: Bend the knee and I shall have mercy.

    Posted: 06 Dec 2018 02:43 AM PST

    This is actually a good price for bitcoin

    Posted: 05 Dec 2018 03:24 PM PST

    I have been a bitcoin holder/user/advocate for some time...I love the anonymity, simplicity of management and control it gives you compared to relying on banks/cards/e-wallets. When it rose to $2500 ish last year I gave everyone who works for me a bitcoin - on the proviso that if they sold it they first paid back my $2500. They're still up at this price, and it would seem to be a fair and rational degree of growth for a year and a half. If it drops to $2500 no biggie...much beyond that, ok I would be surprised.

    Anyway...it's still great. Scaling and usability need solutions but it's still great and it still works. Hang in there people and enjoy the ride!

    submitted by /u/supercreatives
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    3 months in...

    Posted: 05 Dec 2018 10:19 PM PST

    - face of approval -

    Posted: 05 Dec 2018 05:56 AM PST

    "If Bitcoin falls to ($XXXX), I'll (insert something about buying the dip)"

    Posted: 05 Dec 2018 07:56 PM PST

    Where are all you phaggots? Earlier this year, that's what everyone was saying.

    All I used to see on this sub were comments like:

    - "If Bitcoin falls 90%, I will liquidate all assets and go all in"

    - "I hope Bitcoin falls. Would love to buy some on sale."

    - "Buy the dip!!!"

    ​

    Now it seems the majority of posts are extremely negative and the hate for Bitcoin is stronger than ever.

    When Bitcoin was on a bull run, people were projecting $50,000, $100,000, hell even >$250,000 per coin. When things are going great, people predict the good times will continue forever (example: Bitcoin's December 2017 run). When it falls hard, people are scared to put some skin in the game, until they FOMO in when it's too late.

    To people that made posts saying you wish you got in when the price was lower... do it then.

    ​

    submitted by /u/JollyCloud
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    Inverted yield curve and why I will bet the ranch on bitcoin.

    Posted: 05 Dec 2018 02:08 PM PST

    Ok folks lets get real.

    The yield curve has inverted and the squeeze is on like never before.

    The globalists are trying everything to stop populist movements and they are putting the screws to a cheap money addicted world by raising rates. This drys up cash and hence why commodities and bitcoin are taking a bath. Many people are sitting on dollars as the flight from 'risk on assets' continues.

    Thing is they jacked up rates too fast and too much as was predicted by many fundamentalist econ guys. As unrest builds in Europe and soon the USA people will start chanting for the bankers heads to ROLL.. I'm serious.. Last cycle they did this so they could sweep up foreclosed assets and many people didn't know it was by design.. This time many many more people are aware that the international bankers are a den of vipers who created these boom and bust cycles.

    As the call for stringing up bankers revs up over the next 2-5 months they will panic and start to ease (lower rates) Unfortunately a liquidity trap will have set in as they waited too long and tightened too far. When they realize lowering rates is not enough it will be FULL ON Q4 (Quant easing 4) Not because the bankers want it but because they realize that for the first time millions see them as deliberately sabotaging nations politically and economically.

    This is when first world countries will reach their Venezuela point and we will enter hyper inflation. Gold and Bitcoin will start making daily gains and the race will be on like never before. Since bitcoin is 1.5% of gold's market cap, it will see humongous gains. By late 2019 or early 2020 we could hit $8Trillion in market cap or more.

    At some point in late 2020 early 2021 fiat will collapse and we will be using digital currencies 'backed by bitcoin' exclusively. There will be no more fiat exchange. The banks that survive will fill the role of Transaction custodians and lending running things like liquid, LN and side chains. The banks will be the 2nd layer but for the clearing it will all be main chain.

    It's just pure math.

    ​

    submitted by /u/vroomDotClub
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    Do you believe bitcoin is somehow "anti-evil capitalism"?

    Posted: 05 Dec 2018 07:50 PM PST

    Dont get it twisted. Bitcoin is not pro or anti any political ideology. It is neutral. Yet I see alot of people here now stating capitlism is evil and bitcoin is the answer implying bitcoin is somehow pro-socialism which is beyond ridiculous.

    Capitalism is nothing but freedom and human nature. It is what people do when left to their own devices with complete freedom of trade.

    Government should not be in bed with the few corporations it is in bed with. But as for the rest of the wealthy they are already hounded for far more taxes than the middle class all while being the ones providing jobs for the middle class in the first place. The wealthiest 1% pay 50% of all taxes taken in.

    The truth is the wealthy create all the jobs, pay a majority of total taxes and donate to charity more than anyone else, yet are criminalized as a whole because of a few bad apples. The ironic part is the bad apples wouldnt exist if government corruption didnt allow it! Dont blame the child for eating candy, blame the parents that allow it.

    The problem of inequality is NOT caused by some people being successful. Success and failure is human nature, not something imposed by capitalism. Inequality is however exacerbated tremendously by inflation leaving a family that should be comfortable struggling in perpituity.

    This is where the problem comes from. One persons success does not make another person poor, what makes them poor is inflation that robs their salary of the ability to be enough day after day after day. In the absence of inflation minimum wage law wouldnt be needed because a single blue collar job would be enough to comfortably sustain a family of five just like it did fifty years ago.

    Capitalism and the "successful" are not the problem. Inflation and government corruption are the problem.

    Dont protest capitalism, capitalism is nothing but freedom of trade. Instead protest inflation and government corruption as they are the real fundamental problems.

    Bitcoin was invented with a limited supply specifically to combat government inflation, especially after the amount of money printing undertaken after 2008. Bitcoin was invented to reign in government corruption by dissallowing them control over the money supply.

    Bitcoin is free market capitalism and invention at its core. Bitcoin is decentralised capitalism, Bitcoin is uncorruptable capitalism.

    Bitcoin is here to stop both inflation and government corruption.

    Bitcoin is our silent protest.

    submitted by /u/slvbtc
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