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    Bitcoin Daily Discussion, December 03, 2019

    Bitcoin Daily Discussion, December 03, 2019


    Daily Discussion, December 03, 2019

    Posted: 02 Dec 2019 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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    LET THIS SINK IN: There aren't enough BTC for HALF of today's millionaires to own JUST ONE. Owning ONE bitcoin puts you--at minimum--in the top 0.2% of the human population in terms of total possible Bitcoin wealth distribution.

    Posted: 02 Dec 2019 05:42 PM PST

    There will only be a maximum of 21 million bitcoins. Ever. Approximately 4 million have been permanently LOST, bringing the maximum circulating total to 17 million. This total number won't be reached until 2140 due to Bitcoin's issuance schedule.

    Total number of millionaires (in USD value) worldwide is around 33 million (source).

    The math is simple: there is not enough Bitcoin in the world for even HALF of today's millionaires to own just ONE SINGLE BITCOIN. Much less all the future millionaires that will be born as the human population approaches 10bn.

    Bitcoin is SCARCE. Check out the S2F model for a good explanation of why scarcity and value correlate.

    Furthermore: If you are able to acquire even one BTC today: Enjoy the feeling. You are an early adopter. And one of a very select number of humans. Owning just ONE BTC means that you are--at minimum--in the top 0.2% (17M / 8Bn * 100*100&ie=UTF-8&oe=UTF-8)) of the human population in terms of total possible bitcoin wealth distribution.

    Edit: And never-mind the idiots that will say something asinine like "my pubic hairs are limited in number too...does that make them valuable?" Your pubic hairs have zero utility, whereas every day Bitcoin proves it has extraordinary utility as (perhaps) the most perfect form of money humans have yet created.

    Stack those sats!

    That is all.

    submitted by /u/Kinolva
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    Why did Satoshi choose 21 million as the supply? What's the significance of 21 million? Is there a mathematical significance?

    Posted: 03 Dec 2019 02:18 AM PST

    1934 Silver Certificate. The concept of money has always been fluid, Bitcoin is the next iteration.

    Posted: 02 Dec 2019 08:26 AM PST

    Just finished this Bitcoin ring! Sterling Silver with 24k Gold inlay.

    Posted: 02 Dec 2019 11:41 AM PST

    Evading financial censorship - Bitcoin got me some 3d printer parts that my bank wouldn't let me order.

    Posted: 03 Dec 2019 02:51 AM PST

    Was trying to order some parts from Prusa - if you don't know them, they are a very reputable manufacturer of 3d printers. They produce one of, if not the best desktop FDM 3d printer, and have a list of awards as long as my arm. I've ordered stuff many times from them with my card before, the printer itself along with various upgrades and supplies. They have a very good reputation. It's not like I'm trying to buy stuff off Silk road here.

    This time, I tried to order some new upgrades, and secure 3d came up saying that my bank thought the transaction was suspicious and that they may send me a text. They never sent me a text, the transaction got blocked.

    Guessing my bank doesn't like Prusa for some reason (maybe because they are from Prague?) It certainly wasn't an out of character transaction for me. I went back to payment methods and noticed they accept Bitcoin. Paid and it cleared within a few minutes, parts are on the way.

    I figure it makes a good example of how financial censorship can effect even "normal" people, people who aren't out to buy drugs, guns, etc...I just wanted some parts for my printer.

    submitted by /u/Azelphur
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    bitfinex just announced lightning integration for deposits and withdrawals starting December 3rd. A a huge step for @lightning adoption.

    Posted: 02 Dec 2019 11:46 AM PST

    Nobody realized yet but this is huge news:

    "@bitfinex just announced lightning integration for deposits and withdrawals starting December 3rd. A a huge step for @lightning adoption."

    https://twitter.com/philcrypto77/status/1201582166880198663?s=21

    submitted by /u/alienalf
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    Bitfinex to Implement Lightning Network Support from December 3rd!

    Posted: 02 Dec 2019 02:21 PM PST

    If you don't own your keys you don't own your Bitcoin; Decentralize

    Posted: 02 Dec 2019 09:15 PM PST

    Trying to create my own bitcoin pacman.

    Posted: 02 Dec 2019 11:21 PM PST

    Girlfriend got me this shirt

    Posted: 02 Dec 2019 11:25 AM PST

    We’re trending guys

    Posted: 02 Dec 2019 06:31 AM PST

    Video: Bitfinex CTO Paolo Ardoino on Adding Lightning Network Support

    Posted: 02 Dec 2019 09:12 PM PST

    This was such a disappointment to read... if Bakkt futures are not fully backed by Bitcoin and are actually 37% backed by dollars/Treasuries, then what are the implications? Is this the slippery slope to Bifcoin market manipulation like we see in the Gold market?

    Posted: 03 Dec 2019 01:09 AM PST

    Request: Could someone report on Bitfinex LN UX? Just a quick review or video of someone making deposits or withdrawals...

    Posted: 03 Dec 2019 02:26 AM PST

    I'm not a Bitfinex client but would like to know how they are doing it.

    For instance how do they manage channel opening/closing and all that stuff.

    submitted by /u/myquidproquo
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    Bitfinex has enabled deposits and withdrawals on the Lightning Network

    Posted: 03 Dec 2019 02:53 AM PST

    BAKKT: CME DETAILS BITCOIN OPTIONS AS BAKKT OPTIONS LAUNCH NEARS

    Posted: 03 Dec 2019 12:38 AM PST

    Why are these fees so high? [bitgo]

    Posted: 03 Dec 2019 01:54 AM PST

    When I try to send BTC from my Bitgo wallet (let's say 10$, current rate at 7288$).

    10$ 0.00136773 BTC

    + fee 0.00013762 BTC (1.004 USD)

    Is is normal that these fees are around 1$+?

    (I've had higher fees as well).

    submitted by /u/galleria
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    Why didn't you?

    Posted: 02 Dec 2019 11:59 AM PST

    Just In: Court case update on Bitfinex / Tether

    Posted: 02 Dec 2019 09:36 PM PST

    License plate be like:

    Posted: 02 Dec 2019 07:11 PM PST

    Bitfinex Becomes First Major Exchange to Enable Bitcoin Lightning Support

    Posted: 02 Dec 2019 02:16 PM PST

    The Bitcoin World Is Divided Into Three Kinds Of People

    Posted: 03 Dec 2019 03:23 AM PST

    Bolt-A-Thon 2 Speaker Line Up Has Been Finalized! (Dec. 7)

    Posted: 02 Dec 2019 10:22 PM PST

    Bolt-A-Thon 2 Speaker Line Up Has Been Finalized! (Dec. 7)

    Bolt-A-Thon 2 is an online Lightning Network conference and hackathon. The hackathon will be held from Dec. 6-8, but we will be also be hosting an amazing lineup of Lightning Network pioneers through Zoom on Dec. 7. Below is our finalized speaker list and their topics:

    • 9:00am Joost Jager: What's Next for Whatsat: Plausible Futures for Chat Over Lightning
    • 10:00am PDT Brandon Curtis: REDSHIFT: Cross-Network Submarine Swaps for a Better Tomorrow
    • 11:00am PDT Christian Decker: Protocol Development Using c-lightning
    • 12:00pm PDT Lunch break
    • 1:00pm PDT Alex Bosworth: Lightning in 2020
    • 2:00pm PDT Lisa Neigut: Fast Strike: An Orientation Guide to bitcoind and c-lightning
    • 3:00pm PDT Fabrice Drouin: Deep dive into the design and implementation of eclair
    • 4:00pm PDT Rusty Russell: Advanced c-lightning Node Customization: Dangerous Hooks
    • 5:00pm PDT Rockstar Dev and Britt Kelly: TBD

    Tickets sell for 100K sats per session. You can buy all 8 for 800k sats with the button at the top of the page.

    https://preview.redd.it/3fod3qpx2d241.jpg?width=1200&format=pjpg&auto=webp&s=9d8ea2cc1df4e7ae2bd947277d319888d8256dce

    submitted by /u/ecurrencyhodler
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    Fun fact: Between 2100 and 2140, only 2.5 BTC will be mined over the whole 40 years!

    Posted: 02 Dec 2019 09:04 AM PST

    NordLocker extended its BF Sale - get 1yr. plan with 50% off with a promo code BLACKSALE

    Posted: 03 Dec 2019 03:17 AM PST

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