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    Bitcoin Daily Discussion, February 17, 2020

    February 17, 2020

    Bitcoin Daily Discussion, February 17, 2020

    Daily Discussion, February 17, 2020

    Posted: 16 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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    Am I being scammed ?

    Posted: 17 Feb 2020 03:01 AM PST

    Obey your Overlords

    Posted: 16 Feb 2020 08:07 AM PST

    We did it reddit! We fixed the search for "major uses of ₿itcoin"!

    Posted: 16 Feb 2020 10:53 AM PST

    Found this in my old files, my father still says it's a scam :(

    Posted: 16 Feb 2020 10:58 PM PST

    Why is Bitcoin so hard for most people to understand? Because most people don't understand money. Found this comment on Youtube which I liked.

    Posted: 16 Feb 2020 06:22 AM PST

    Why is Bitcoin so hard for most people to understand?

    "The reason it's so hard for most people to understand is that most people don't really understand money. Money isn't wealth. It's an accounting system used to facilitate the exchange of wealth. (The paradox of money is that while everyone wants it, no one actually wants it - they want the stuff they can buy with it!) Many people are put off by the fact that Bitcoins are 'just data'. But that's what ALL money is, information! More precisely, money is a means for credibly conveying information about value given but not yet received (or at least not yet received in a form in which it can directly satisfy a person's wants or needs).

    To put it yet another way, money is a ledger. With fiat currencies like the dollar, that ledger is centralized. And that gives the central authority responsible for maintaining that ledger tremendous power, power that history has proven will inevitably be abused. With Bitcoin, the ledger is decentralized. And that means that no one individual or entity has the power to arbitrarily create new units (thereby causing inflation), freeze (or seize) your account, or block a particular payment from being processed. We've had decentralized money before. After all, no one can simply print new gold into existence. And the 'ledger' of gold is distributed because the physical gold itself (the 'accounting entries' in the metaphor) is distributed. But with gold, that decentralization comes at a heavy price (literally). The physical nature of gold makes it hugely inefficient for global transactions.

    And this is why bitcoin is important! It is the first currency in the world that is both decentralized and digital. It is more reliably scarce than gold and more private and transactionally efficient than "modern" digital banking. This is why people are excited about bitcoin, it has the potential to completely revolutionize money."

    ​

    I thought I'd share it with you.

    ​

    Have a good Sunday everybody!

    EDIT: url to the video: https://www.youtube.com/watch?v=kubGCSj5y3k&t=354s

    submitted by /u/nick-bravo
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    How to sell btc in large amounts the smart way?

    Posted: 17 Feb 2020 03:52 AM PST

    First of all i dont want to sell right now. But lets just predict btc goes 100.000$ and i want to sell as soon as posebly maybe 5 btc at once, what is the smartest way to do it? I live in germany and have full verivied accounts on binance and coinbase. In my opinion the best way is:

    Btc trough ledger to binance and there convert to usdt. Then usdt back to the ledger and from there selling in small amounts on coinbase.

    I am afraid my funds geht locked on binance or coinbase for what ever.

    Am i right? Is this a good plan?

    submitted by /u/friendly-bitcoin
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    Government agents seized $181,500 in cash at airport and won't give it back

    Posted: 16 Feb 2020 07:06 PM PST

    Pierre Rochard & Saifedean Ammous on Bitcoin as a Savings Technology & Number Go Up - Podcast Notes from The Stephan Livera Podcast

    Posted: 17 Feb 2020 04:14 AM PST

    LOL Need to Hire people like this who can scream into the ears of government and non believers!

    Posted: 16 Feb 2020 09:58 PM PST

    Monday Art - Manuel Guzman

    Posted: 17 Feb 2020 12:18 AM PST

    Negative Interest Rates will ASSURE bitcoin as a world reserve currency. Read between the lines.

    Posted: 16 Feb 2020 06:59 PM PST

    Podcast interview with Will Reeves, CEO of Fold: The Bitcoin User Onboarding Opportunity

    Posted: 17 Feb 2020 02:13 AM PST

    Bitcoin spotted in "Escape from Tarkov" game inventory

    Posted: 16 Feb 2020 05:25 PM PST

    They can spread FUD but that's the extent of it.

    Posted: 17 Feb 2020 05:01 AM PST

    Governments may try to scare people away from bitcoin through false or exaggerated statements, or by putting scary questions in tax forms to make bitcoin look like its only use is for tax evasion, they may try to spread FUD, they may try to limit its viability by suffocating it with tax and record keeping burden, they may try to make examples of people who use bitcoin for illicit means, but they can not criminalize its legal use.

    To criminalize the use of bitcoin and all cryptocurrencies like it they would need to ban the use and development of open source blockchain technology and ban the use and development of digital scarcity as a technological concept. To accomplish that would require a tyrannical dictatorship with no way to contest its criminalization.

    Any country with an ounce of justice and due process of law especially one with a constitutional right to freedom of speech (as code is speech) would find it impossible to criminalize the entire technological concept of digital scarcity and its use in trade and commerce. They would need to essentially criminalize open source code and any country that even contemplated that would see an immediate mass exodus of business, finance, technology companies and entrepreneurial talent from their shores.

    The most bullish thing in the world for bitcoin would be for an attempt to be made at criminalizing it then that attempt being contested and overturned in the supreme court setting undeniable precedent for its legal use in commerce.

    Bring it on!

    submitted by /u/slvbtc
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    Definitely wearing this to mass next sunday ������

    Posted: 16 Feb 2020 07:17 AM PST

    Best trading platform for US residents

    Posted: 17 Feb 2020 03:23 AM PST

    I currently trade stocks and options and have owned a little Bitcoin(coinbase) for years but never traded. I'm looking for a great crypto trading platform for US residents. Apparently that's harder than I thought?!

    Thanks in Advance!

    submitted by /u/drifter_333
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    Ian Coleman's BIP39 tool, security of splits

    Posted: 17 Feb 2020 03:49 AM PST

    I noticed, that the BIP39 tool available at https://iancoleman.io/bip39/ recently started showing a crude splitting option for a seed. For example the 24 word seed:

    comic giraffe honey midnight trim state

    oppose glove lunch steel bright bless

    soap garage mandate air lava board

    voyage traffic feed stem mandate noble

    can be split into 3 "cards" that are:

    Card 1:

    XXXX giraffe honey midnight trim XXXX oppose XXXX

    lunch steel bright bless XXXX garage mandate XXXX

    lava board XXXX traffic XXXX XXXX mandate noble

    Card 2:

    comic XXXX honey midnight trim state XXXX glove

    XXXX XXXX XXXX XXXX soap XXXX mandate air

    XXXX board voyage traffic feed stem mandate noble

    Card 3:

    comic giraffe XXXX XXXX XXXX state oppose glove

    lunch steel bright bless soap garage XXXX air

    lava XXXX voyage XXXX feed stem XXXX XXXX

    The site then claims, that cracking the seed, if the attacker is in possession of only one of these cards takes 3830854 years. Unfortunately there's no explanation on how Ian Coleman arrived at this conclusion.

    My understanding is, that such a 24 word seed represents 256 bits of entropy. Any 8 words would thus be equivalent to 256/3 = 85 bits of entropy. Now 85 bits of entropy isn't particularly much. So how can the time to crack a seed with only one card, which is then missing only 8 words to be completed, take 3830854 years?

    Notice: this is not the Shamirs Secret Sharing Scheme using BIP39 words, developed by the company that also develops the Trezor hardware wallet. This here is simply splitting the seed into 3 chunks.

    EDIT: The math seems to be as follows:

    85 bits of entropy means there are 2^85 possibilities, that's 38685626227668133590597632.

    3'830'854 years is 117'830'939'673'600 seconds.

    So 38685626227668133590597632 / 117'830'939'673'600 is 328'314'671'297.

    That means, Ian Coleman assumes, that an attacker can make at most 328 billion guesses per second. Is that realistic?

    submitted by /u/Thanatos_1
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    BITPANDA.COM SCAM STOLE 9 BTC AND LOCK ACCOUNT

    Posted: 16 Feb 2020 07:33 PM PST

    Hello every one.

    I try to make withdrawal 03/01/20, 7:11:50 and it has not been confirmed.

    I wrote to support ( Ticket-ID (283918) ) and they answer me

    Bitpanda Risk Department (Walter) (Bitpanda Support)
    Jan 13, 09:15 CET
    Hello Roman,
    Thank you for your enquiry.
    Please understand that currently, we cannot give you more information than everything that is already publicly available in the following article:
    What is the 5th EU Anti-Money Laundering Directive (AML5D) and how does it affect me?
    Rest assured, that we will keep you updated and give further insights into that topic in the upcoming weeks via our newsletter.
    Thank you for your understanding.
    Best regards,
    Bitpanda Risk Department (Walter)‍
    https://support.bitpanda.com

    I answer to support

    "What if I cannot verify?
    If you do not want to verify or you cannot verify due to the fact that you don't have an accepted document for verification, we kindly ask you to withdraw all your funds before the 9th of January 2020, 5pm CET as you will no longer be able to access your funds after that date if you are not verified."
    IN THIS ARTICLE "we kindly ask you to withdraw all your funds before the 9th of January 2020" AND MY WITHDRAWAL WAS 03/01/20, 7:11:50 WHAT THE FUCK?????

    And then support don't answer to me anymore and they locked my account because i cant'T LOG IN , when i try to login i see "account innactive"

    So bitpanda and bitpanda big scam, they stole my money and don't answer me.

    Ticket-ID (283918)

    I will end my life because all the blame will be on bitpanda.

    submitted by /u/romandrach
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    Happens every time

    Posted: 16 Feb 2020 02:17 PM PST

    Mentor Monday, February 17, 2020: Ask all your bitcoin questions!

    Posted: 17 Feb 2020 03:00 AM PST

    Ask (and answer!) away! Here are the general rules:

    • If you'd like to learn something, ask.
    • If you'd like to share knowledge, answer.
    • Any question about Bitcoin is fair game.

    And don't forget to check out /r/BitcoinBeginners

    You can sort by new to see the latest questions that may not be answered yet.

    submitted by /u/rBitcoinMod
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    Celtic gold gets it, not like Peter Shiff

    Posted: 16 Feb 2020 05:26 PM PST

    Who bought at 10k+? Upvote this to find out. ( Anonymous poll )

    Posted: 17 Feb 2020 05:38 AM PST

    Before anything i'm not looking for karma or points.

    Let's find out how many people bought at 10k plus and now is worried or not worried. It gives us an idea to find out how many people here did that.

    Note: If you did nto buy at 10k+ no need to down vote.

    submitted by /u/SEAR_ME
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    Can they sieze your btc if you never convert to usd. Even if they really wanted to?

    Posted: 16 Feb 2020 11:31 PM PST

    Do u guys know an exchange that trades btc and stocks?

    Posted: 17 Feb 2020 05:12 AM PST
    Read more
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