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    Bitcoin Daily Discussion, February 08, 2020

    February 08, 2020

    Bitcoin Daily Discussion, February 08, 2020

    Daily Discussion, February 08, 2020

    Posted: 07 Feb 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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    Gotta thank the realists in this space:

    Posted: 07 Feb 2020 05:58 PM PST

    This is true

    Posted: 08 Feb 2020 12:25 AM PST

    US Congressman Davidson! "If the U.S. #blockchain industry ever is to have a fighting chance in the global market, #Congress must remove the anchors from the industry's feet." This is correct. By dragging its feet, Congress is giving China & Russia a head start in their quest for #crypto dominance.

    Posted: 07 Feb 2020 01:03 PM PST

    Massive SCAM going on right now on various youtube channels streaming fake live content.

    Posted: 07 Feb 2020 10:16 PM PST

    All the links take you to fake websites where you enter in your seed words to get started.

    I've reported the ones I saw for fraud/scam.

    Is it just me or has this been going on just constantly?

    Just to be clear, DO NOT enter your seed words in any computer or online. If it's too good to be true, it is.

    -Stay safe out there.

    submitted by /u/cliftonixs
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    This is Nouriel Roubini declaring Bitcoin dead exactly at the bottom of the bear market

    Posted: 07 Feb 2020 10:56 PM PST

    The Satoshi, The Ver, and The Craig

    Posted: 07 Feb 2020 04:33 PM PST

    Dr. Tampa Media Corp Add BitCoin As Payment For Porn Sites

    Posted: 07 Feb 2020 07:11 PM PST

    Dr. Tampa Media Corp, the owners of GirlsGoneGyno.com and CaptiveClinic.com, has added BitCoin as a method to join our membership websites! I believe crypto currency could play a large part in the adult entertainment industry as companies like Visa and Mastercard constantly seek to censor what type of porn they deem "acceptable" for payment with their credit cards. As a company that produces a lot of CNC style content, I see BitCoin becoming extremely valuable to our distribution model.

    submitted by /u/GirlsGoneGyno
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    I made a tutorial on how to create multiple accounts with a single Coldcard wallet using Electrum.

    Posted: 07 Feb 2020 05:45 PM PST

    When Bitcoin crosses $10000 how will mainstream media report about it?

    Posted: 08 Feb 2020 03:32 AM PST

    The Cryptoconomy Podcast: CryptoQuikRead_350 - Of Course You Can Own Bitcoins [Bitcoin Rabbi]

    Posted: 08 Feb 2020 02:57 AM PST

    Looking for a wallet for rpi 3B+

    Posted: 08 Feb 2020 01:58 AM PST

    I have a rpi 3b+ set up with Ubuntu server 19.10(no gui). Im trying to decide wether to use a 'pruned' node or an electrum wallet. Is there a guide somewhere to help me out with only command line? I would prefer not to set up a full node as I've read it takes a long time on the pi3. I have safe and secure wallets for my BTC already I just wanted to learn and goof around with some satoshis with the ultimate goal of having a wallet accessable anywhere in the world. Thank you for your help!

    submitted by /u/Kickboks
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    Hella good idea

    Posted: 07 Feb 2020 07:51 PM PST

    we all know this shit going to 10k so why don't we send it tonight?? 12 am pst lets all buy at once. I'm in.

    submitted by /u/fraqaq
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    Bitcoin for babies?

    Posted: 07 Feb 2020 06:57 AM PST

    My son is 18 months old. He made a bunch of money from his Christening and 1st birthday. It took a while and a lot of convincing, but I finally got my wife to agree to let me invest for him and bought .25 BTC. It's about 1/6 of the savings we have set aside for him. I'm happy and a little nervous about it. What do you guys think? Smart investment move or too risky? I figured worst case scenario and BTC goes to 0 (never happening) I have plenty of time to recuperate the money.

    submitted by /u/sh0gun187
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    Bitcoin Keeps Breaking Big Milestones – A Sign of Things to Come

    Posted: 07 Feb 2020 07:58 PM PST

    The average hodler never lost money, keep hodling, dont trade!

    Posted: 08 Feb 2020 12:53 AM PST

    "When you’re looking to be a government regulated entity, you have to follow all the rules. You can’t allow anonymity anymore." Jason Seibert (securities lawyer) on rejected bitcoin exchanges.

    Posted: 07 Feb 2020 01:46 PM PST

    The NYDFS rejected Seattle-based cryptocurrency exchange Bittrex's BitLicense application, and the resulting rejection letter serves as a blueprint for anyone looking to do crypto business in the Empire State.

    For securities lawyer Jason Seibert, who has served on several landmark crypto cases, the crux of Bittrex's rejection letter is on Page 4 in Paragraph D. He says it offers the 10,000-foot view of what it takes to operate a crypto exchange.

    "…Bittrex has failed to demonstrate responsibility, financial and business experience, or the character and fitness to warrant the belief that its business will be conducted honestly, fairly, equitably and carefully," reads the NYDFS rejection letter of Bittrex, which requested that the exchange provide within two weeks of the rejection written confirmation that it had stopped operating in New York State and doing business with its residents.

    What's clear is that anyone looking to operate as an exchange in New York State must abide by the Five Pillars of KYC and AML:

    • internal controls;
    • the designation of a Bank Secrecy Act (BSA)/AML officer;
    • a BSA/AML training program;
    • independent testing to test programs;
    • and a risk-based, customer due-diligence procedure

    "For instance, you have to be able to know if there's somebody that's on a sanctions list or an OFAC list," explains Mr. Seibert, referencing the Office of Foreign Assets Control. "So, it becomes an issue if an exchange doesn't even know who their customers are due to the ability for users to create a false name or an alias account."

    Seibert points out that no one is going to win points with the regulator when they allow Elvis Presley to trade, as was the case with Bittrex.

    "An exchange must see some form of ID, some sort of registration, some sort of link between an actual person and an account," explains Seibert. "You can run an actual ID against a database like OFAC to make sure that it isn't a sanctioned Russian who's not supposed to be doing business in the United States or someone laundering money through a cryptocurrency exchange because they've created a false account. That's the issue with these anonymous accounts. When you're looking to be a government regulated entity, you have to follow all the rules. You can't allow anonymity anymore."

    ​

    full story: cryptographicasset.com/a-few-things-you-should-know-about-getting-a-bitlicense/

    submitted by /u/DistinctSkin
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    SLP147 Pierre Rochard & Saifedean Ammous – Bitcoin as Savings Technology & Number Go Up

    Posted: 07 Feb 2020 09:21 AM PST

    Trust wallet - BTC address signing ?? Thanks for help

    Posted: 08 Feb 2020 12:02 AM PST

    Is is possible? Trust wallet using segwit AFAIK but how could I sign a specific receiving address I once used? Thank you!!

    submitted by /u/bucketkix
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    Using Bitcoin for Illicit Purposes Is Harder Than Using U.S. Dollar

    Posted: 08 Feb 2020 03:46 AM PST

    VanitySearch, a new tool to create customized BTC SegWit addresses

    Posted: 07 Feb 2020 12:15 PM PST

    Maybe you know about VanityGen, where you can create customized vanity BTC addresses containing a defined prefix such like 1miau7hDJ456....

    That's very nice but VanityGen is doing that only with legacy addresses where fees are higher compared to SegWit.

    As a result, a nice dev has created VanitySearch where it's also possible to create vanity addresses from nested (prefix 3...) and native SegWit (prefix bc1q...). And it's much faster that VanityGen.

    You can check it out here: https://bitcointalk.org/index.php?topic=5112311.0

    submitted by /u/1miau
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    Picked this up awhile ago, haven't used it, how "trustworthy" are these cold storage cards? Private key hasn't been scratch off yet.

    Posted: 08 Feb 2020 03:30 AM PST

    My BTC adventure

    Posted: 07 Feb 2020 01:16 PM PST

    So this is more a story of an opportunity lost than a story of regret.

    But, I do regret this at least a bit.

    I heard of Bitcoin around 2009 to 2010. The coins were around 50 dollars when I first read an article on them and they fluctuated up and down from there.

    My first experience was mtgox and then coinbase. I made an account and would buy 20 bucks worth of coin at a time. See, I used the coin to buy music from Russian sites for 10 cents a song roughly instead of a dollar here. So I'd spend that 20 on a few albums and then reload it whenever I'd think of new mp3's to buy.

    Well after around 5 or 6 albums I decided I was set on music for a while and I just left 20 bucks on coinbase just to see what happened. Well, I forgot about it.

    At that time the coin was around $80 for one, then shortly after it was $100 for one. I really wanted to buy one whole coin, but that would have been a third of my paycheck at the time and I just couldn't afford to gamble it.

    As I said, I forgot about the coin completely for like 6 months.

    Another article popped up about how bitcoin was shooting through the roof and so I checked on it. My 1/8th of a coin netted me $140. The rumor mill was out that it was surely tanking soon so I sold it when one coin was worth around $1400.

    I then took that extra $120 and enjoyed a full tank of gas and a night out or two. I figured a reinvestment wouldn't be worth it as it was too much for one coin and forgot about it again.

    It tanked for a week to like $800 and I thought good job to me! Patting myself on the back.

    Then it hit 4k, 6k, 8k, 14k, 20k.

    That 20 bucks would have netted me 5k if I had just let it ride. And if I had just managed to buy one coin I'd have paid cash for my next vehicle.

    This lesson reminds me alot of people's skepticism of Microsoft and the people who missed an opportunity. The point being, always let a small amount ride and see. Take the risk!

    I made a huge return on my investment. I had 140 dollars I didn't have before.

    But hey, it could have been A LOT more.

    submitted by /u/Thesearchoftheshite
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    How can I proof to someone that I own a P2SH or a bech32 address without spending a satoshi?

    Posted: 07 Feb 2020 06:16 PM PST

    This can be easily done for P2PK & P2PKH addresses and I'm looking for a corresponding way or an easy way to implement it.

    Thank you

    submitted by /u/ozoverseas80s
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