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    Bitcoin Daily Discussion, March 08, 2020

    March 08, 2020

    Bitcoin Daily Discussion, March 08, 2020

    Daily Discussion, March 08, 2020

    Posted: 07 Mar 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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    "calling bitcoin just money is like calling internet a fancy telephone" Andreas M Antonopolous

    Posted: 07 Mar 2020 10:36 AM PST

    hi, i made this small website that is basically a collection of tools related to bitcoin, i hope it comes of any use to anybody, suggestions welcomed :D

    Posted: 07 Mar 2020 10:43 PM PST

    BTC and The Upcoming Crash

    Posted: 07 Mar 2020 07:17 PM PST

    I wanted to set up a discussion about what you all think is going to happen to BTC if economies around the world start to collapse(including USD). Honestly, I don't think USD will collapse, but in the off case it does, what impact will that have on crypto. Will the price increase or will the value of it be worth nothing due to people only caring about necessary goods (ie: food, water, gold). I have been a bitcoin bull since 2016 and still have a large portion of my portfolio in bitcoin. Overall I really don't have a strong headed view about all of this but I would like to hear what you all think!

    submitted by /u/WSBMORONICTRADER
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    looking on some explanation on lightning network

    Posted: 08 Mar 2020 01:08 AM PST

    I'm looking for a brief explanation of the lightning network and payment channels in general. I've been following the topics and I think I am a little bit confused in my general understanding.

    From what I understand is the lightning channel is established between two nodes and essentially you let your transactions be double signed. And there's also some kind of routing option to use intermediary hops to transact with somebody you don't have a direct connection with, and eventually you bring those double signed transactions to bitcoin to make the ledger update your balance.

    Now what I'm a little bit confused about is the terminology and what is what and how it works:

    - what is a channel exactly? Is it a tcp/ip channel that is directly connected to somebody else's node or is it something more abstract- when you want to participate in the network do you actually fund your node or do you fund a channel?

    Can anybody give me some brief explanations on the basics of this topic? For your reference, I have a background in software development so feel free to call things what they actually are.

    submitted by /u/eayollie
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    Bitcoin mining activity expected to surge as Chinese hardware makers shake off coronavirus slowdown.

    Posted: 07 Mar 2020 11:42 PM PST

    Spoken in 2014 when $Btc was $1000

    Posted: 07 Mar 2020 12:27 PM PST

    Bitcoin recognized as money in France!

    Posted: 07 Mar 2020 06:52 AM PST

    Bitcoin Knots 0.19.1.knots20200304 released! ��

    Posted: 07 Mar 2020 11:50 AM PST

    You can now buy DoorDash gift cards with Bitrefill

    Posted: 07 Mar 2020 08:39 PM PST

    How to Join Bitcoin VR event using VRchat

    Posted: 08 Mar 2020 05:15 AM PDT

    Paxos standard token asking for details

    Posted: 08 Mar 2020 01:49 AM PST

    Is there any way to earn bitcoin online

    Posted: 08 Mar 2020 01:29 AM PST

    BTC Flex seen in Seattle

    Posted: 07 Mar 2020 11:40 AM PST

    What Software Wallets are the best to hold crypto?

    Posted: 07 Mar 2020 11:28 PM PST

    I currently hold my coins on their exchange, but now I want to move them to a more secure place. What software wallets that accept all coins are the most safe and reliable?

    submitted by /u/og7932ju
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    Is there an explorer which just shows you plain and simple incoming and outgoing transfers on the blockchain? BTC.com and blockchair have too much info to analyse and gather stuff. Looking for something which spits out in very simple terms maybe like an excel file format?

    Posted: 07 Mar 2020 09:37 PM PST

    We're not just in this for the money

    Posted: 07 Mar 2020 04:21 AM PST

    I Recommend This Be Considered A Lie: AML

    Posted: 07 Mar 2020 09:39 AM PST

    For my work, I had to study anti-money laundering and it's impact on global Economies. Let me share some facts with you and no I'm not going to bother sourcing it.

    2-5% of global GDP is money being laundered. It adds up to around $2-$3Trillion / yr.

    What percentage of those illegal transactions actually get caught by authorities?

    1%

    !

    $20B-$30B! The rest is undetected!

    They tell us Bitcoin is for money laundering. They fucking lie. The traditional banking system is for money laundering due to all the private ledgers.

    It's not banks who fear bitcoin..it is governments whose expenditures could be tracked with blockchain.

    submitted by /u/brereddit
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    How will hashpower be sustained when block reward is near zero?

    Posted: 07 Mar 2020 09:05 PM PST

    If miners no longer receive a block reward in the far future, and fees are far lower than the block rewards of the past, wouldn't this drastically decrease the hashrate as non-profitable miners go offline due to only having fees and no block reward?

    1. Block reward hits 0
    2. Miners go offline because they can't profit
    3. Difficulty adjusts accordingly
    4. A small fraction of previous hashpower is capable of maintaining profitability
    5. Btc is now much less secure because fees on a 1mb block are far smaller than block rewards

    Can you please fill me in with any missing details / corrections on my logic?

    Thank you all.

    submitted by /u/SamotoNakatoshi256
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    Anthony "Pomp" Pompliano talks Bitcoin on CNN (Part 1/3)

    Posted: 08 Mar 2020 03:01 AM PDT

    Most anonymous way to buy BTC in US?

    Posted: 07 Mar 2020 11:48 PM PST

    I want to buy BTC but i don't want anyone or any gov. to track me or my money. So i don't wanna use any exchange company like coinbase, bittrex, kraken etc.

    Amount is not so much but it needs to be a trustworthy method. I'm not gonna meet someone i don't know in a dark alley and do a txn nor I'm gonna send money to someone i meet online.

    How can i anonymously buy BTC? Help appreciated

    submitted by /u/Playboy_BTC
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    I just did my first Submarine Swap after just hearing about it for half a year. It´s absolutelly phenomenal and super easy!

    Posted: 07 Mar 2020 04:23 PM PST

    France’s Declaring Bitcoin as Legal Money follows Good News in India and South Korea

    Posted: 07 Mar 2020 01:08 PM PST

    I tried the ZAP desktop lightning wallet....

    Posted: 07 Mar 2020 11:52 AM PST

    And omg, once it's funded (10 usd worth) and a channel is opened (40000 sats or 5 bucks), transactions are instant. Of course I went to a gambling site and lost 5000 sats :)

    User interface and step by step instruction could be clearer (im tech savvy but it took some poking around). Perhaps a walk through or small instruction arrows and balloons.

    But damn!!! It works instantly. It's incredible. Everyone try it and help devs by reporting bugs and errors if any.

    It really looks like it's ready for mainstream. (Edit: hmmm, spoke too soon. great for small payments, probably problematic when receiving payments. Also 2 fees: On chain towards zapwallet, then another fee for opening a channel)

    submitted by /u/Dotabjj
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