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    Bitcoin Daily Discussion, December 18, 2018

    December 18, 2018

    Bitcoin Daily Discussion, December 18, 2018

    Daily Discussion, December 18, 2018

    Posted: 17 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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    Keep calm and accumulate coins

    Posted: 17 Dec 2018 02:36 PM PST

    I've been buying bitcoins since the first time it hit $1,000. Hear me out

    Posted: 17 Dec 2018 05:21 PM PST

    That was several years ago. I have never sold a single bitcoin, and although I kinda wish I did when it hit $19,000, I didn't know where it would go. Those people telling you to sell at $19k because it was obvious it was overpriced would have told you the same at 9k, 10k, 11k, 12k, etc. Fact is, if bitcoin could reach 19k, it could reach 30k, 40k, no problems.

    I've bought my first bitcoin during the bitcoin craze, when it broke $1,000 USD. It then crashed to $200 but at this point, I was hooked, and kept buying with a budget of $1,000 per month. This includes buying bitcoins at $200, $300, $500, etc. This includes YEARS of having no return on my bitcoin investment while stock soared.

    My thought today?

    Well, I am now buying $2,000 of bitcoins every month. I don't plan on selling in the next 5+ years unless we get a crazy run and the price is so high I can't refuse - but even there, it will be hoping for a crash (which we may or may not get, don't believe the naysayers) to buy even more bitcoins.

    I fundamentally believe in bitcoins. I think they will last. I think they will keep going up and I think this is the best way to store money, savings-wise, for the long term. People telling you that bitcoins aren't based on stocks and a business forget that businesses crash all the time too. Look at EA and NVDA for instance, down nearly 50% in the last month.

    Bitcoins DO have a business and it's being a parallel financial system. I won't do a full study of them here, but there definitely is a need for bitcoins worldwide. I am self-employed and am often paid in bitcoins simply because it's faster and cheaper than paypal et al. Paypal takes as much as 10% in fees for me and it's days before I can get the money. Trading bitcoins in person, I can avoid nearly all fees and even charge a premium.

    Bitcoins aren't going anywhere. Et her might or might not suceed (my own guess is that it suceeds, but that's what it is: a guess), the rest of cryptos might or not be there in ten years, but bitcoins will be there. Other cryptos NEED bitcoins to suceed to even exist because it's the golden standard. 100% of my savings are in bitcoins and I will conclude by saying this:

    People say bitcoins "died" all the time. It was the same when it hit $200 last time. People would tell me to sell and recoup some of my losses, that bitcoin was going back to 1 cent, etc. People don't know shit. People don't know where it's going. I don't know where it's going. I think it's going up, I think bitcoins are barely starting and I will say this, companies that spend $100M+ to develop new ASICS for bitcoins seem to think that bitcoins are valuable too.

    Lastly, the trading price on exchanges is misleading because it can be heavily manipulated. Wallet A can easily "sell" his bitcoin to wallet B and it would be part of the trading volume. I don't trust short-term price. I think a fairer price for bitcoins would be the average of the last 12 months or something like that.

    TLDR: I am not afraid for bitcoins future at all, it is already used a lot and it is truly game-changing. It's the best crypto and the one most likely to suceed. Stop panicking and ignore the FUD from trolls. People bash bitcoins because:

    1. They are jealous of those who became rich using it.
    2. They take solace at looking at recent price actions and comfort themselves for not buying bitcoin at $200: "See, I knew it was a bit idea, I would be down so much!"
    3. They're pissed off that stocks are down so much. A lot of people who bashed bitcoins were WAY too invested in tech and also old fossils like GE, which are plumetting, and this is their way to let steam out. Keep buying if you can and ignore the fear.

    My own personal projection is that bitcoin doesn't move much in 2018-2019, sticks around $2.5k-$4.5k, then soars randomly in late 2020, probably hitting 30-40k without any problem.

    submitted by /u/graydoggames
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    How to get exposure to Bitcoin.

    Posted: 17 Dec 2018 09:17 PM PST

    Congratulations​ HODL-ers! Today we celebrate the 5-Year Anniversary of the term "HODL"

    Posted: 17 Dec 2018 10:16 PM PST

    Once you understand how bitcoin works, you also understand how futile banning it is.. This is an old bitcoin meme, but a good one.

    Posted: 18 Dec 2018 02:01 AM PST

    French crypto tax plan just got rejected. French will need to pay 60% if cashout more than 30k$. INSANE.

    Posted: 17 Dec 2018 06:10 PM PST

    Dave Rubin abandoned Patreon. Now accepts bitcoin!!

    Posted: 17 Dec 2018 11:06 AM PST

    Just HODL!

    Posted: 18 Dec 2018 01:03 AM PST

    How you see Bitcoin in a world full of opinions.

    Posted: 17 Dec 2018 02:10 PM PST

    Gab.com: “We are bitcoin maximalists, full stop. Unapologetically.”

    Posted: 17 Dec 2018 08:17 PM PST

    Who Needs Verizon? Blockstream Broadcasts Entire Bitcoin Blockchain From Space

    Posted: 18 Dec 2018 01:36 AM PST

    Am I the only one who pronounces the plural of "Bitcoin" to still be "Bitcoin"?

    Posted: 17 Dec 2018 07:35 PM PST

    I'm not sure where I got this from, but "Bitcoins" just never sounds right to me.

    submitted by /u/cc_alerting
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    Demand for Bitcoin debit cards is exploding as consumers look for new ways to use crypto

    Posted: 17 Dec 2018 05:53 PM PST

    Dec 2017 vs. Dec 2018 - visualized by my belly

    Posted: 17 Dec 2018 05:30 AM PST

    Han believes in the Lightning Network

    Posted: 17 Dec 2018 10:41 AM PST

    Bitcoin Declared Dead - For the 334th Time

    Posted: 17 Dec 2018 12:33 PM PST

    16 months after its creation, BTCPay Server finally gets a website. Welcome to btcpayserver.org where you can learn more (it's on GitHub as well)

    Posted: 17 Dec 2018 08:37 AM PST

    Who Needs Verizon? Blockstream Broadcasts Entire Bitcoin Blockchain From Space

    Posted: 17 Dec 2018 09:27 AM PST

    Dunno if that was the floor or not, but I just bought in

    Posted: 17 Dec 2018 07:32 PM PST

    It's cool seeing a bull run for a change. 👍

    submitted by /u/DrJokerX
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    Blockstream's Satellite coverage is now going global

    Posted: 17 Dec 2018 09:00 AM PST

    SLP42 Adam Back, CEO of Blockstream – Blockstream Satellite, Tim May, Bitcoin Privacy

    Posted: 17 Dec 2018 02:48 PM PST

    ELI5: How an ERC-20 to Bitcoin Lightning Atomic Swap works

    Posted: 18 Dec 2018 02:48 AM PST

    Will Bitcoin prevent this? =>Goldman Sachs is facing one of the most significant scandals in its history, a multibillion-dollar international fraud

    Posted: 17 Dec 2018 11:45 PM PST

    Seeing so many big banks getting fined for helping money laundering. Was reading some articles about the 1MDB situation and Goldman Sachs.

    Thinking if Bitcoin could prevent this. Whats your view?

    Federal prosecutors filed criminal charges on Thursday against a Malaysian financier and two former Goldman Sachs investment bankers who helped raise money for a Malaysian government investment fund from which about $4 billion disappeared.

    The charges could put pressure on Goldman - the primary bond underwriter for the fund at the center of the case, 1Malaysia Development Berhad, or 1MDB - to reach a potential settlement with the federal authorities.

    The alleged misappropriation of billions of dollars from the 1MDB fund has become the focus of an international scandal reaching from Malaysia to the United States to Hong Kong.Until recently, the investigation had mainly focused on allegations that Mr. Low misappropriated billions of dollars from the 1MDB fund.

    submitted by /u/rosberg2014
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    Bitcoin’s Fair Market Price is $14,800, Says Cryptocurrency Bull Tom Lee

    Posted: 18 Dec 2018 02:34 AM PST
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