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    Bitcoin Daily Discussion, June 04, 2019

    June 04, 2019

    Bitcoin Daily Discussion, June 04, 2019

    Daily Discussion, June 04, 2019

    Posted: 04 Jun 2019 12:00 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!

    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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    Already 0.01btc ($85) received on my new street art qr code in 24 hours, thanks guys! ����

    Posted: 03 Jun 2019 10:24 AM PDT

    If you're panicking over this -10% day in Bitcoin, get out now. This space isn't for you.

    Posted: 03 Jun 2019 10:46 PM PDT

    Seriously. The crying in Facebook and Twitter is laughable. Did you think that Bitcoin was just going to run parabolic nonstop for months? I am glad we had this dip. Any pullback was long overdue. Get this straight: THIS DIP IS HEALTHY FOR BITCOIN. For all you MOON BOYZ, I still think a REAL correction is long due. If you can't handle Bitcoin going below $6500,... Motherfucker. Get out... . now. This is the wild West. This is Bitcoin. It doesn't wait for anyone and it will crush the upside or downside at any given moment.

    submitted by /u/MexicanRedditor
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    Nope. Not Selling. No way.

    Posted: 03 Jun 2019 10:01 PM PDT

    The world didn't change over the weekend. We just survived crypto's longest bear market, Bitcoin is still capped to 21M, Fidelity Digital Assets and Bakkt are still coming up this summer, (hyper)inflation is still a major concern, the trade war is just getting started, and the halving is less than a year away. I didn't endure the past 18 months to give up now. Patience will pay off.

    submitted by /u/patriceac
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    Flashbacks - Saving Private Ryan

    Posted: 04 Jun 2019 02:42 AM PDT

    No thanks I rather buy bitcoin at 230k then I'll know for sure were in a bull rally

    Posted: 03 Jun 2019 05:26 PM PDT

    Bank has been frozen for 4 weeks because I sold BTC

    Posted: 03 Jun 2019 06:35 PM PDT

    I live in Canada and bank with Scotiabank. So I sold some BTC on localbitcoins.com, received payment through E-transfer. My bank flagged the transaction, disabled all my accounts and asked for proof of how I acquired the money. I gave them screenshots and an explanation of what occurred. It wasn't even a large sum of money either around 870$ CAD(647$ USD. They told me they consider Selling BTC for $ to be fraud because BTC isn't legal tender?? i asked if I would be charged with a crime and was told no. Haven't been given a time line on if or when I will get access to my accounts back or what will happen to the money I have in there.

    submitted by /u/Foyva
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    When Bitcoin Was $3500 I called A Friend And Told Him He Should Think About Buying Bitcoin Again.

    Posted: 03 Jun 2019 08:32 PM PDT

    His response was that coins are dead.

    submitted by /u/Global_Originalist
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    [unpopular opinion] Rich people buying and selling bitcoin to make profit isn't "mAnIpUlaTiNg" it is just a Free-Market.

    Posted: 04 Jun 2019 12:27 AM PDT

    as compared to actual manipulation

    EDIT:For clarity, If they can lose their own money they are risking they are not mAnIpUlaTiNg.

    What Is Rent-Seeking?

    Rent-seeking happens when a person or business uses their position or resources to get some additional benefit from the government. The most common occurrence is when a company or industry lobbies the government to receive special subsidies, grants, and tariff protection. The term "rent" in economics means receiving a payment that is over the costs involved in the production of the item or keeping the item in service. These actions do not produce any benefit for the community-at-large but only redistribute taxpayer's resources.

    How Rent-Seeking Works

    Politicians decide the laws and regulations that govern the industry and how government subsidies are distributed. If a firm succeeds in getting laws passed to limit their competition or create barriers to entry to others, the firm will increase its share of available wealth. Moreover, it has earned income without being productive or putting its capital at risk.

    Politicians decide the laws and regulations that govern the industry and how government subsidies are distributed. If a firm succeeds in getting laws passed to limit their competition or create barriers to entry to others, the firm will increase its share of available wealth. Moreover, it has earned income without being productive or putting its capital at risk.

    submitted by /u/MakeTotalDestr0i
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    Hodl Hodl is considering holding a Bitcoin meetup in Malta this summer

    Posted: 04 Jun 2019 02:33 AM PDT

    Senate rejects Rand Paul’s balanced budget plan 69-22.... Buy Bitcoin

    Posted: 03 Jun 2019 07:34 PM PDT

    Invest in Bitcoin every time you make a purchase from your bank account

    Posted: 04 Jun 2019 01:36 AM PDT

    What it feels like to be moon bound.

    Posted: 04 Jun 2019 03:39 AM PDT

    $108 million in Long Liquidations at BitMEX

    Posted: 03 Jun 2019 05:14 PM PDT

    Cheapest place to buy Bitcoin?

    Posted: 04 Jun 2019 12:59 AM PDT

    So basically I want to know where I can buy bitcoin with the cheapest fees, been buying from two Swedish based sites that takes fees around 7-10% which seem really high. Gonna invest about 1000 euro in the coming days/weeks based on the value of bitcoin.

    Thanks in advance

    submitted by /u/InTompaWeTrust
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    Incoming Sale/Panic Threads #hypocrite

    Posted: 03 Jun 2019 05:23 PM PDT

    Lightning channels convert chain fees into investments in a future of growth. If you bought a channel for $0.01 when fees were low you could not only use that to escape $1.00+ fees when fees are high, you can resell that network liquidity to someone else by operating as a router.

    Posted: 03 Jun 2019 09:38 AM PDT

    Building on Bitcoin: How Bitcoin RSK and RIF Can Pave the Way to Financial Inclusion - Consensus 2019 - Coindesk

    Posted: 03 Jun 2019 10:36 PM PDT

    Bitcoin Investments Made During 96% of Its Existence Have Brought Profits

    Posted: 03 Jun 2019 10:24 PM PDT

    How much are wasabi fees?

    Posted: 04 Jun 2019 03:10 AM PDT

    Is it a good time to use it?

    submitted by /u/Buttoshi
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    Thou Damned Whale!

    Posted: 04 Jun 2019 01:28 AM PDT

    Samourai Wallet has received $100,000 in its first round of funding

    Posted: 03 Jun 2019 08:41 AM PDT

    Why Erlay Protocol is a Big Deal for Bitcoin

    Posted: 03 Jun 2019 01:18 PM PDT

    Noam Chomsky - A System Without Money

    Posted: 03 Jun 2019 06:39 PM PDT

    Reminder: back up your wallet

    Posted: 03 Jun 2019 11:18 AM PDT

    So I didn't lose my ass, but it appears that I did lose my entire bitcoin wallet. I sure as fuck backed it up, but like an idiot, I never moved the backup off of my phone. I factory reset my phone completely by accident (definitely a glitch with restarting the phone hoping to just wipe the cache partition and it instantly started erasing. I freaked the fuck out while my wife was driving, she slammed on the brakes like we were about to run over a child or something). Anyway, back up your wallet right now if you haven't already got a backup.

    (I only lost 56.03 mBTC)

    submitted by /u/takes_joke_literally
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