Bitcoin Daily Discussion, December 07, 2018 |
- Daily Discussion, December 07, 2018
- Embarrassed being caught in the middle
- Watch BTC's ups and downs in this video!
- Priorities
- Just HODL fellas!
- Crypto Gandalf knows the way
- Am I The Only One Happy Right Now That Bitcoin Is Dropping & We Are Heading Towards Capitulation?
- Shitcoin Cash flippening has just happened. Poor Roger and Jihan.
- My Kid Came Home From School With This Today!!! All Of The Kids At School Were Handed One!!!
- Coinmitted scam me
- How low can you go. . .
- Bitpay sucks
- 03/Jan/2019 Proof of Trust Event.
- This is an absolute must-watch to understand manipulation and grasp what might very well be going on RIGHT NOW in this space.
- Maybe we should focus more on this ...
- Miners, eating transactions like sharks.
- Time for Plan B itcoin
- FOMO at $3500 & Engaging with Bitcoin without "investing"
- Ima Bitcoin permabear transforming into a REAL Bull! Please don’t rip my horns off...
- Luke Dash Jr - Scaling Roadmap (possible)
- “Call of Duty” Players Stole $3.3 Million in Cryptocurrencies from over 100 cell phones
- Many Are Fearful In The Market Right Now. Take Warren Buffet's Advice And Be Greedy When Others Are Fearful.
- Who's going to be first to market with a Cuban-centric exchange? Cuba just got mobile internet for the first time
- My Interview with VanEck's Gabor Gurbacs discussing their Bitcoin ETF application
- Warren Togami: Bitpay explicitly includes a security vulnerability
- SEC Again Delays Decision on VanEck-SolidX Bitcoin ETF
| Daily Discussion, December 07, 2018 Posted: 06 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. [link] [comments]  | ||
| Embarrassed being caught in the middle Posted: 06 Dec 2018 07:06 PM PST
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| Watch BTC's ups and downs in this video! Posted: 06 Dec 2018 08:11 AM PST
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| Posted: 06 Dec 2018 03:42 AM PST
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| Posted: 06 Dec 2018 10:09 PM PST
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| Posted: 06 Dec 2018 10:28 AM PST
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| Am I The Only One Happy Right Now That Bitcoin Is Dropping & We Are Heading Towards Capitulation? Posted: 06 Dec 2018 09:02 PM PST This "bloodbath" is absolutely needed for the overall HEALTHY market. I am invested into crypto for the LONG TERM, and I am personally utilizing this Bloodbath as a means to cost average and add to my current bags. Is anyone else with me? [link] [comments]  | ||
| Shitcoin Cash flippening has just happened. Poor Roger and Jihan. Posted: 06 Dec 2018 11:50 PM PST
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| My Kid Came Home From School With This Today!!! All Of The Kids At School Were Handed One!!! Posted: 06 Dec 2018 07:25 PM PST
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| Posted: 06 Dec 2018 07:17 PM PST I am the main developer for this app (backend, iOS and Android) from scratch - [b]John Coles uses fake historical trading results for Coinmitted, and cheated me on my development fees.[/b] Sometime back in July, he engaged me on Fiverr to develop Coinmitted - an app that lets users to "invest" money with his cryto-currency trading. After a couple of small jobs, he then suggested that he is lacking in funds and will get huge investments after he launches Coinmitted. Initially I rejected this idea, but our working relationship has been very pleasant. He has proven to be very sincere and passionate with his dreams. [u]He even sent me a signed contract, awarding me 10% share for this project, promising $5,000 bonus upon launch, and a monthly maintainece job at $2,000. [/u] The offer, coupled with his sincerity and mutual understanding, was too good to refuse. It was a dream come through for a developer - you worked with an inspired entrepreneur when he was unknown, and help him build his path to success. I was too naive to even consider I would be cheated out of this. Few months down the road, something fishy happened. He instructed me to upload the "stats" for his historical trading results, but there were just plain numbers - 20% profit in July 2018, etc. While not well-versed as a trader, I doubt the authenticity of such figures. I asked him for the back up for these stats and he didn't have any. He said people in the industry all do the same. I didn't give much thoughts to it (I was never good with finances so it didn't occur to me as a scam until now), and continue to work on the project. While we agreed to complete the project within 1 month initially, he continuously requested new features to the app - which resulted the total development time to about 5 months. Having primarily focus on Coinmitted, I have not taken up other projects and rely solely on my savings. He knew that too, and has done a very good work keeping me motivated with things like: "Well done bro, we will make it big once its launched. You can depend on me." "Don't worry bro, I'll ensure you get your bonus!" "You'll be the CTO for my company" [b]The nightmare started, ironically, after the app is launched in December 5th 2018.[/b] Instead of the promised $5000, he sent me $800 via his "admin" Susanna. Whenever I asked him about the bonus, he'd then give excuses like "under verification", "I've called Susanna but she is not responding" and "Nothing I can do until Susanna sends it". To make matter worse, I just receive a paypal dispute to that $800 he sent me this morning. Yes, he blocked me off from Slack (where most of our conversation occurred), remove my rights from Heroku, and finally raised a fxxking dispute. For all the work I've done for him for 5 months, he refused to pay me a single cent. He cheated me out of my hard work and above all, trust. [u]Now I am wondering, would you entrust your money to someone like this? He wouldn't even pay "a friend" who worked hard for him, what do you think he would do with your money? Coinmitted is a scam. So does the people behind it. [/u] For any of you who wanted proofs about our conversation or the signed contract, feel free to PM me. I've managed to take all screenshots before he blocked me in Slack. You've been warned. [b]TL; DR: Coinmitted and the guy behind it cheated by posting fake historical results before December 2018, scammed me out of my hard work to develop the app for him.[/b] Coinmitted is officially registered in UK, the owner is John Ollie Coles. https://suite.endole.co.uk/insight/company/11553527-coinmitted-uk-limited?page=overview [link] [comments]  | ||
| Posted: 06 Dec 2018 09:28 PM PST
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| Posted: 07 Dec 2018 01:35 AM PST Why do I need an extra wallet for Bitpay. This makes it not easier. This service sucks, i am not gonna sign up to one of your partner wallets. This sucks.... I want to be able to choose my own wallet... [link] [comments]  | ||
| 03/Jan/2019 Proof of Trust Event. Posted: 06 Dec 2018 06:07 PM PST The time has come for us to test what we have created. Trust in numbers yet we trust in exchanges, in people, in corporations. On the 3rd of January 2019, 10 years on, let us all withdraw our BTC to wallets we control. Let's see if it is all there, let us see who fails, let us see the network work. We lose nothing, we risk nothing, those companies and exchanges that cannot be trusted will be exposed. We must assert control, we must prove this is ours. We need a time to coordinate, 16:00 UTC 03/Jan/2019 is as good as any other. By this hour let us have concluded our transactions and hold our coins in our wallets. 04/Jan/2019 we return to business as usual, with renewed confidence. [link] [comments]  | ||
| Posted: 06 Dec 2018 06:47 PM PST
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| Maybe we should focus more on this ... Posted: 06 Dec 2018 10:47 PM PST
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| Miners, eating transactions like sharks. Posted: 06 Dec 2018 02:25 PM PST
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| Posted: 07 Dec 2018 02:18 AM PST
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| FOMO at $3500 & Engaging with Bitcoin without "investing" Posted: 06 Dec 2018 05:48 PM PST Some thoughts at 3500$ for new and old. Let's say you over-extended yourself and bought 2 BTC at 4k. Consider establishing a stop-loss to limit your liability. You can choose to sell and take the 1000$ loss as a valuable but cheap lesson in speculating; this market is a speculative jungle and you're only making money in the short term by actively playing the market, e.g. if you bought at 3700 and sold at 4400 before price declined again you would be pretty satisfied with yourself. If you believe bitcoin will eventually become a digital reserve currency or at least see another all time high (ATH) at which you'll sell a portion and want to invest for the long term despite market volatility your other choice is to Dollar Cost Average your crypto. NB: that this does not mean buying in a lump sum, it is profoundly misguided to heavily leverage yourself to "go all in," which is an english phrase used in gambling. If you take this position the wisest course is to budget a small amount you can afford to lose and routinely buy crypto at set intervals regardless of losses. For example, let's say that you put a small amount once a month into your crypto fund and the price has decreased by 500$/mo. If you bought set amounts at 6k, 5.5k, 5k, 4.5k, 4k, 3.5k then your DCA would be 4.75k/BTC, you're still down but not as badly as if you were to buy once at 6k. Ideally the price will eventually rise, so if you buy down to 3k then at 3.5k, 4k, 4.5k, 5k, 5.5k, 6k, & 6.5k your DCA is still 4.75k/BTC but the price is 6.5k/BTC. Feels pretty good, right? Now take a look at how long it took to get to this point in an improbable perfect scenario: 14 months. Note that this is for demonstration purposes only, not a prediction, and if we actualize sustained growth after this we're probably looking at much longer bumpier road. If you're new or have pulled out to limit your losses, just be patient and keep watching the price. No one knows how low it will go and trying to anticipate that and exhausting your resources the moment you think we've hit bottom is a recipe for regret. Work on your budget now and when we see a sustained recovery start routinely contributing small amounts to your crypto fund. If you have debt the single most important step you can take towards financial independence is to pay it off and limit your use of credit. Consider building an emergency fund with 3-6 months of expenses before contributing heavily to a risky crypto fund. Take this exciting/tumultuous period to learn about BTC and how to use it, we contribute to the ecosystem when we participate in further decentralizing the network and the benefits of bitcoin are fully realized when it's used as a currency. Put a wallet on your phone and computer, check out hardware wallets such as the Ledger to store large amounts while keeping spending money on your phone. Offer to accept bitcoin as payment, learn what private keys are and why it's important to hold them yourself rather than letting an exchange hold them. If you just bought some coins on an exchange because everyone is talking about bitcoin but didn't look much further than TAs, you can read this ELI5 article to get you started. Consider reading the Cypherpunk Manifesto and the pseudonymous Satoshi Nakamoto's Whitepaper. Google what you don't understand, ask what you can't find on Google. Andreas Antonopoulos is a bitcoin expert/evangelist/apologetic and has extensive talks/Q&As on his YT Channel. If you're "in it for the tech" then consider contributing to the Lightning Network by running a node, if you're a tinkerer /u/Stadicus has a pinned post that's a cool crypto project and costs about 125$. Raspiblitz project is linked in the comments to that thread and incorporates an LCD screen which /u/CBDoctor used to make this legit node/art installation. Alternately you can buy a ready-made Casa node for 300$. Hopefully y'all will post some additional thoughts and suggestions for further reading/tinkering in the comments. Nour! [link] [comments]  | ||
| Ima Bitcoin permabear transforming into a REAL Bull! Please don’t rip my horns off... Posted: 06 Dec 2018 10:41 PM PST Bitcoin blurb that turned into an essay: I've been following Bitcoin since 2014 when I first observed it spike to a $1000 that then crash to $200. Since then, I've been very anti-Bitcoin, specifically when looking at it as a form of currency, which needs to be (1) a store of value, (2) a unit of account, and (3) a medium of exchange. Bitcoin's price will never be stable enough to actually be a currency, IMO. HOWEVER, I have started to turn more bullish on Bitcoin, especially over the long term because investors the world over are hungry for asset diversity. However, since it's an asset, it is ultimately tied to the global financial system, which is dominated by the US, which is in turn dominated by the Fed. I'd say there are many things causing Bitcoin to fall, but I think the Fed raising rates along with shrinking their balance sheet is a big factor. Effectively, the Fed is making the value of money go up by reducing supply and increasing rates, which means you can easily get ~2% yield in a money-market fund. Also, their actions combined with Trump's antics have helped induce or at least intensify a global bear market. Most Americans don't realize that assets have been getting walloped this year outside the US. Anywho, on to the positive. I see Bitcoin as much more analogous to gold then a currency. You don't use gold to buy stuff because there are so many more efficient means to do so. Yet it still has value because so many see it as such. The key for Bitcoin is the relatively limited supply that cannot be produced arbitrarily. You cannot counterfeit Bitcoin (to the best of my knowledge). There is no way to hack into the Bitcoin "system," at least now although there might be future risks that arise from quantum computing, although I read that the Bitcoin system could adapt to such a threat (if you see a future, systemic threat to Bitcoin, then please tell!). There will not be a sudden spike in aggregate supply, although supply at a given time in the marketplace will vary greatly. This means that it actually is a viable asset. When I turned my back on Bitcoin in 2014, I did so because I just didn't like its risk/reward. One of the big reasons for me was that it could easily just slowly sputter out and die. I saw it as a niche computer experiment. However, critically, it has become a household name. The boom last year was an extremely effective advertisement in this regard. Bitcoin is known by everyone who is in finance. Many see it as too volatile, which is a fair reason to not buy in. Many also see it as rigged, which it is. Even so, the idea of Bitcoin and other cryptos continue to seep into the human psyche. With Bitcoin, crucially, being the first mover as a durable crypto asset that has achieved global awareness, it will likely continue to be the leader in the space. From my perspective, this bear market has been good for Bitcoin long-term since the other secondary players are getting washed out. The BIG POSITIVE in my book, though, which is leading me to soon buy my first Bitcoin, is the fact that as the price and market cap goes down, the easier it is to support. The lower it goes, the more powerful this idea becomes. That is to say it is becoming increasingly easy for demand to match the supply on the market in terms of fiat currency. I don't know when it will bottom, but it will be way higher than $0. In that case, literally no one would buy a Bitcoin for any price. That is clearly absurd. I don't know when the bottom will occur, but it will occur one day. When that day comes, it will be a stronger, more mature asset in a pruned crypto space. I don't like to pretend I am a market caller, although I was warning people about Bitcoin when it jumped up to $2,000 and just kept rising last year. Still, I feel that the bottom is going to occur relatively soon. There is just too much fucking fiat sloshing through the world economy looking for a good place to settle. I, with a good bit of confidence, say that Bitcoin will continue to be one of those places well into the future. Now that I've taken an hour to write this essay at 1am when I was planning on just typing a little blurb, I can confidently say, what the fuck am I doing with my life? Also, what is the best cold storage crypto-wallet right now, because I'm about to jump into the frenzy and HODL. 😅 P.S. someone please respond to this so I don't think I completely wasted my time. Yea, I'm that needy. [link] [comments]  | ||
| Luke Dash Jr - Scaling Roadmap (possible) Posted: 06 Dec 2018 11:58 AM PST
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| “Call of Duty” Players Stole $3.3 Million in Cryptocurrencies from over 100 cell phones Posted: 06 Dec 2018 10:52 PM PST
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| Posted: 06 Dec 2018 04:11 PM PST | ||
| Posted: 06 Dec 2018 10:02 PM PST
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| My Interview with VanEck's Gabor Gurbacs discussing their Bitcoin ETF application Posted: 07 Dec 2018 03:39 AM PST
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| Warren Togami: Bitpay explicitly includes a security vulnerability Posted: 06 Dec 2018 05:33 PM PST
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| SEC Again Delays Decision on VanEck-SolidX Bitcoin ETF Posted: 06 Dec 2018 01:23 PM PST
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