Bitcoin Daily Discussion, March 10, 2020

Daily Discussion, March 10, 2020
Choose Wisely
stocks halted for 15 minutes after market tanks. lol imagine if bitcoin did that. they would call it a scam.. hmmmm(they already do)
Bitcoin Halving is coming closer!
Indian Bitcoin lovers are welcome again on Kraken as the Indian Supreme Court overrule the RBI’s ban
Italy Suspends Mortgage Payments For The Entire Country As Financial System Faces Collapse
This coronavirus recession will be Bitcoin’s first major test. Bitcoin has only ever existed within the framework of a larger govt fueled fiat bubble, which is in the process of popping/deflating.... if we want Bitcoin to survive, our community must not panic sell, we need to keep stacking sats.
9k blocks to halving
Don't panic, Bitcoin is at +10% since January 1st, 2020
Bitcoin fix this!
You Call That Volatility? Bitcoin Traders Scoff at Wall Street's Gyrations - CoinDesk
Having problems purchasing bitcoin in Iran
Where do you buy Bitcoin?
If you want some humor during this dip, watch Dan Weiner take on Bitcoin on CNBC today.
WHO Encourages Use Of Contactless Payments Due To COVID-19
Bought the dip
With the price plummeting along with stocks. Here’s the correct thing to do
Currently ~14M USD worth of Bitcoins are mined a day, ~420M USD a month. After halving we need ~210M USD less new money every single month to stay at the same price.
Coronavirus crisis betrays our Bitcoin nihilism
Jack Dorsey Stays As Twitter's CEO, Good News For Bitcoin
Raoul Pal is a former successful hedge fund manager and runs “Real Vision Finance” (has a channel on Youtube)
Bitcoin can still be a safe haven, experts say - Decrypt
Bitcoin Core 0.19.1 available for download
KEEP CALM
The Robinhood app went down again as stocks got routed on Wall St.

Daily Discussion, March 10, 2020

Posted: 10 Mar 2020 12:00 AM PDT

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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Choose Wisely

Posted: 09 Mar 2020 03:27 PM PDT

submitted by /u/searchthe
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stocks halted for 15 minutes after market tanks. lol imagine if bitcoin did that. they would call it a scam.. hmmmm(they already do)

Posted: 09 Mar 2020 06:42 AM PDT

submitted by /u/1107461063
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Bitcoin Halving is coming closer!

Posted: 10 Mar 2020 12:53 AM PDT

submitted by /u/MrCrownnnnn
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Indian Bitcoin lovers are welcome again on Kraken as the Indian Supreme Court overrule the RBI’s ban

Posted: 09 Mar 2020 04:56 PM PDT

submitted by /u/kraken-leonardo
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Italy Suspends Mortgage Payments For The Entire Country As Financial System Faces Collapse

Posted: 10 Mar 2020 02:54 AM PDT

submitted by /u/nugget_alex
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This coronavirus recession will be Bitcoin’s first major test. Bitcoin has only ever existed within the framework of a larger govt fueled fiat bubble, which is in the process of popping/deflating.... if we want Bitcoin to survive, our community must not panic sell, we need to keep stacking sats.

Posted: 09 Mar 2020 04:36 AM PDT

Our community must exercise extreme patience in the face of extreme adversity.

submitted by /u/the420chronicler
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9k blocks to halving

Posted: 09 Mar 2020 02:51 PM PDT

submitted by /u/kskelts
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Don't panic, Bitcoin is at +10% since January 1st, 2020

Posted: 10 Mar 2020 03:05 AM PDT

submitted by /u/sylsau
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Bitcoin fix this!

Posted: 10 Mar 2020 01:34 AM PDT

submitted by /u/iguano80
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You Call That Volatility? Bitcoin Traders Scoff at Wall Street's Gyrations - CoinDesk

Posted: 09 Mar 2020 05:59 PM PDT

submitted by /u/bitcoin-bull
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Having problems purchasing bitcoin in Iran

Posted: 10 Mar 2020 01:54 AM PDT

Who knows any possible means of buying bitcoin in Iran ?

submitted by /u/Pachman01
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Where do you buy Bitcoin?

Posted: 10 Mar 2020 02:59 AM PDT

I am looking forward to buying bitcoin because its low and the Halving will rise the price for a short time. So what Plattform can you recomend?

submitted by /u/etzzzzdfcc
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If you want some humor during this dip, watch Dan Weiner take on Bitcoin on CNBC today.

Posted: 09 Mar 2020 04:08 PM PDT

submitted by /u/universeatom
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WHO Encourages Use Of Contactless Payments Due To COVID-19

Posted: 09 Mar 2020 10:55 PM PDT

submitted by /u/sjrunner83
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Bought the dip

Posted: 09 Mar 2020 08:12 AM PDT

After the recent ~10% drop in price I've decided to stack more sats once again, so my apologies in advance when it dips further because that's what has happened every other time I've bought the dip ¯\_(ツ)_/¯

submitted by /u/Papa_L0u
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With the price plummeting along with stocks. Here’s the correct thing to do

Posted: 10 Mar 2020 12:00 AM PDT

Buy the dip. See you all in money town 😎

submitted by /u/ProfessorShanks
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Currently ~14M USD worth of Bitcoins are mined a day, ~420M USD a month. After halving we need ~210M USD less new money every single month to stay at the same price.

Posted: 09 Mar 2020 12:15 PM PDT

Just think about it, these numbers are huge (even at the currently dropped prices!). We need 420M USD of new money every single month to just absorb the newly mined Bitcoins at a price of 8k USD (either bought on the market for $ from non-miners or "bought" by the miners for electricity, which also means for $).

If we think about likely above-average investors and assume they can buy $1k worth of Bitcoin every month, we would need 420,000 such investors to just absorb the newly mined Bitcoins.

After halving we need 7M USD less buying power every single day, or 210M USD less every month or 2,520M USD less every year. It would be crazy if this doesn't result in increasing prices medium to long term. Short term the speculative effect of the halving will be a larger driving factor for the price (both up and down), but once the dust about the halving has settled there should be notably less sell pressure and thus slowly but steadily rising prices over time (if the demand stays roughly the same).

And to those thinking that the amount of newly mined Bitcoins is negligible compared to the total daily trading volume and thus saying the halving will have no impact: that's a flawed argument. The big big majority of the daily trading volume is 1) fake volume from stupid exchanges, 2) bots constantly trading back and forth with what ever strategies they use (arbitrage etc.), 3) people day trading, i.e. also trading back and forth to make profits. Only a tiny tiny part of the total trading volume are people actually selling without buying back at a lower (or higher if they screwed up) price and only that volume needs to really be absorbed by new money. I would argue that the newly mined Bitcoins are a decent chunk of that "net sell volume", so they absolutely have a rather large impact on the price.

submitted by /u/Nesh_
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Coronavirus crisis betrays our Bitcoin nihilism

Posted: 10 Mar 2020 02:41 AM PDT