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    Bitcoin Daily Discussion, January 27, 2020

    Bitcoin Daily Discussion, January 27, 2020


    Daily Discussion, January 27, 2020

    Posted: 26 Jan 2020 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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    Girlfriend just got me this for my birthday! Go Bitcoin!

    Posted: 26 Jan 2020 03:23 PM PST

    Growth In The Level Of Precision Of Bitcoin Spending

    Posted: 27 Jan 2020 02:15 AM PST

    Told my Mother to read 'The Creature From Jekyll Island' by Edward Griffin. Not only did she read it in one day, she sent me this quote, sells all her bank shares and has just bought her first Bitcoin. Tell everyone you know to read this book and read it yourself if you haven't!

    Posted: 27 Jan 2020 12:15 AM PST

    I finally reached my first goal of owning 1% of a Bitcoin

    Posted: 26 Jan 2020 05:39 AM PST

    I feel like i'm part of the 1% Elite now. 99% to go until I can ascend into heaven

    submitted by /u/1BitcoinIsMyLifeGoal
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    We need some lightning nodes in Iceland and Greenland �� ~11k nodes (including tor) up 2.5% past month!

    Posted: 27 Jan 2020 12:21 AM PST

    MIT Courseware has uploaded free 23 lectures about Bitcoin, Blockchain and Finance (Fall,2018)! Link in text.

    Posted: 26 Jan 2020 12:19 PM PST

    Electrum Lightning Demo

    Posted: 26 Jan 2020 10:49 PM PST

    Is anyone else’s savings mostly Bitcoin?

    Posted: 26 Jan 2020 09:41 AM PST

    I am a college student who doesn't have a lot of money but when I want to invest a little of my paycheck I buy Bitcoin and HODL! Anyone else do something like this?

    submitted by /u/Dparkzz
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    Cash is TRASH - billionaire investor Ray Dalio

    Posted: 27 Jan 2020 01:46 AM PST

    First time seeing a BTC related shop in the wild!

    Posted: 26 Jan 2020 10:42 AM PST

    Can you spot the real Bitcoin ?

    Posted: 26 Jan 2020 05:30 AM PST

    Appetite for Bitcoin among Institutional Investors Growing as Bakkt’s Futures Delivery Shoot Up by 1,600%

    Posted: 26 Jan 2020 09:27 AM PST

    Binance Pledges $1.5 Million for Coronavirus Victims - Bitcoinist.com

    Posted: 26 Jan 2020 12:01 PM PST

    Monday Art - Zsolt Vidak

    Posted: 27 Jan 2020 12:52 AM PST

    Just updating, 621 BTC were traded using LocalBitcoin last week in Venezuela (up from 614), where minimum wage is 5 USD per month. Yes, Venezuela. One BTC is 643,000,000 Bs. (Bolivares). AMA.

    Posted: 26 Jan 2020 04:54 PM PST

    These volumes are only measured using Localbitcoin (LBTC) using their API (Coindance). Big part of that exchange come from Venezuelans that live abroad and send money to their families, miners, people that get paid in cryptos (freelancing) and even the own government. It is around 2400 BTC per month now. Weekly record was February 2019, 2400 BTC only one week.

    Today exchange rate is around 1 USD = 75,000 Bs. (Official rate is almost the same, 74,600 Bs.)

    Minimum wage (which is earned by a big chuck of the population, not like other countries) is 250,000 Bs. wage (less than 3 USD) + 200,000 Bs. food bonus (less than 3 USD) PER MONTH. Increased from 150,000 Bs. and 150,000 Bs.

    Biggest bank note is 50,000 Bs. which is around 1 USD. You need to use debit and credit, bank transfer, cryptos and USD to pay anything.

    Here in Venezuela situation is really hard, some people dont believe that amount is the minimum MONTHLY wage. I work and earn more than that (anyway, the amount is really low, I'm sure with that amount I would be living homeless in Colombia, Peru or Panama for example), usually get some donations from redditors and do some freelancing work (translating mostly) and it is really hard to keep up daily.

    Sources:

    https://coin.dance/volume/localbitcoins/VES/BTC

    submitted by /u/WorkingLime
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    ELI5 why does Bitcoin get more valuable after a halvening?

    Posted: 26 Jan 2020 10:43 AM PST

    I don't get the economics behind it. Miners need to work twice as hard for the same reward. Wouldn't that make Bitcoin worth less?

    submitted by /u/Y0rin
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    Finally Own A Small Piece of BTC

    Posted: 26 Jan 2020 06:44 AM PST

    Would you be comfortable storing your seed in a bank deposit box?

    Posted: 27 Jan 2020 02:29 AM PST

    Assuming it was a BIP39 seed with a strong passphrase?

    submitted by /u/masoplamas
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    Even Hippies have a Plan (B)

    Posted: 26 Jan 2020 05:08 PM PST

    Is it wise for a noob starter to invest $995 in Bitcoin right now if he wants to

    Posted: 26 Jan 2020 05:29 PM PST

    I always hear start by investing small. But how small is small

    submitted by /u/heskey572
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    How will bitcoin ever be used when everybody is hoarding it, expecting the price to go up?

    Posted: 26 Jan 2020 09:43 PM PST

    Right now, most bitcoins are not really in circulation because the people who own them are holding in wait for price movement. This is a feature of all deflationary assets. So how will any of these coins circulate? Who will buy things with their valuable bitcoin if they are expecting the price to go 10x every 4 years? Are we just looking at a 150 year speculation bubble?

    submitted by /u/johnnydanger2
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    I Now Have .50 BTC

    Posted: 27 Jan 2020 04:47 AM PST

    My goal is to own 1 Bitcoin! I've been accumulating since May of last year. I hope to join the 21 million club one day! Have a good day, hodlers!

    submitted by /u/Ninety6ixx
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    Why Bitcoin you ask??

    Posted: 27 Jan 2020 04:29 AM PST

    The video below touches Multiple reasons as to 'WHY BITCOIN?' from a reputable source.

    Make sure to take note of the 'pretty shocking' fact in the end...

    Wanted to share these insights with the community, please keep spreading.

    https://www.youtube.com/watch?v=EC0G7pY4wRE

    submitted by /u/Jerjon89
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    Bakkt consumer app coming soon

    Posted: 26 Jan 2020 01:11 PM PST

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