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    Bitcoin Daily Discussion, March 12, 2020

    March 12, 2020

    Bitcoin Daily Discussion, March 12, 2020

    Daily Discussion, March 12, 2020

    Posted: 12 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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    Wheee!

    Posted: 12 Mar 2020 04:09 AM PDT

    Time to bring out my old plan for dealing with uncertain market conditions and COVID fears...

    Posted: 11 Mar 2020 04:51 PM PDT

    FINALLY! I have a whole bitcoin.

    Posted: 12 Mar 2020 04:05 AM PDT

    I did it. I did it!

    submitted by /u/99764893
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    KEEP STACKING SATS!

    Posted: 12 Mar 2020 03:47 AM PDT

    To all the newcomers who came for the halvening party

    Posted: 11 Mar 2020 11:12 AM PDT

    Gentlemen, it was a privilege to HODL with you

    Posted: 12 Mar 2020 03:29 AM PDT

    This bill needs to be stopped!

    Posted: 11 Mar 2020 08:54 PM PDT

    If this bill or any bill like it is passed, it will end all forms of privacy in tech. And that includes the messages you can send through bitcoin. (See bip 70-72)

    https://blog.cryptographyengineering.com/2020/03/06/earn-it-is-an-attack-on-encryption/

    submitted by /u/cdotsubo
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    Bitcoin suffers biggest price crash in more than a year

    Posted: 12 Mar 2020 04:02 AM PDT

    Buy the dip boys !

    Posted: 12 Mar 2020 03:54 AM PDT

    Shouldn’t Corona make Bitcoin more valuable?

    Posted: 12 Mar 2020 04:52 AM PDT

    As global panic rises, I was assuming (hoping) that bitcoin would also rise or at least stay stable as it is not connected to any banks or government. I've been hodling since 2015 and am planning to stick this out, but just curious (outside of the upcoming halvning) what your guys thoughts were on how this virus will effect Bitcoin?

    submitted by /u/whatevskiesyo
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    Introducing Interchange: The Innovative Decentralized Bitcoin Exchange Mechanism Powering the First Decentralized Private Marketplace

    Posted: 11 Mar 2020 10:00 PM PDT

    the revolution will happen when people at scale realize the price of bitcoin is literally unimportant and they just start using it

    Posted: 11 Mar 2020 08:26 PM PDT

    Should I buy in now?

    Posted: 11 Mar 2020 09:25 PM PDT

    $1700 DUMP – $520m liquidated so far on BitMEX

    Posted: 12 Mar 2020 04:15 AM PDT

    Shouldn't Bitcoin be a safe heaven, completely decoupled from the "flawed" world economy?

    Posted: 12 Mar 2020 03:39 AM PDT

    HODL!!

    Posted: 12 Mar 2020 05:17 AM PDT

    Who else is still buying?

    Posted: 11 Mar 2020 05:12 AM PDT

    I've doubled my daily spend since the dip.

    1) The Coronavirus hysteria isn't going to last forever
    2) The halving is still coming
    3) Do you really think BTC won't be back up over 10k again in the next 18 months?

    submitted by /u/dtr1984
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    How Bitcoin Could Be The Key To World Peace

    Posted: 11 Mar 2020 09:50 PM PDT

    According to this post by Adrian Barkley, it says crypto can elevate the individual over the dominance of corporations and government due to the fact it is a decentralized asset. It further reiterated that people should focus on taking the power back for themselves, decentralizing power. And it starts with bitcoin instead of protesting on the streets, where the risk of getting injured or killed is a lot greater.

    I am in 100% align with his belief or what did you think?

    submitted by /u/alexhcry
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    Is Bitcoin safer than the banking system in times of a virus pandemic?

    Posted: 12 Mar 2020 12:17 AM PDT

    Since bitcoin does not really need humans to operate, and banks do .. I thought this questions answer is obvious.

    Am I missing something? If it gets so bad that electricity fails on a global scale .. then bitcoin would be screwed ..but the same goes for banks, right?

    submitted by /u/H1gH_EnD
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    Spotted in Fort Lauderdale: The Cryptoman Shreds!!!

    Posted: 11 Mar 2020 07:12 AM PDT

    Now that Bitcoin is Legal in India, We are organizing Bitcoin & Blockchain seminars in the Top Engineering colleges.

    Posted: 11 Mar 2020 11:17 AM PDT

    List of exchanges including transaction fees?

    Posted: 12 Mar 2020 04:42 AM PDT

    Basically the title.

    Can someone direct me to a list that summarizes the best exchanges/ways of acquiring crypto?

    I started on coinbase based on the advice of a family member, but after reading the digital gold book I have learned that coinbase violates the whole premise Satoshi had in mind.

    I'm planning to do daily or weekly small purchases for a while and the fees on Coinbase are ridiculous.

    submitted by /u/exjk23
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    For Confused Traders/HODLERs/n00bs - Dr. Michael Osterholm's Thoughts

    Posted: 12 Mar 2020 04:26 AM PDT

    Everyone is thinking that all of this across markets is a simple dip because of virus fears. They think the virus wil come out and go away. Dr. Michael Osterholm, who has researched these type of infections, cautions that this may only be the beginning. This means that ppl may need more liquidity in the future and will sell anything to get it!!! Rather than take everyone's advice on buying the dip, ask yourself, "How much liquidity do I have to handle emergencies over the next year?" STAY AWAY if you aren't ready to handle a POSSIBLE EXTENDED DECLINE (in ALL markets, not just bitcoin)!!! Job losses are around the corner, so buying every paycheck may be foolish if your job is lost and you suddenly need CASH to pay the bills.

    Traders are clueless about this virus and REALLY SHOULDN'T BE advising to dip buy because they have NO IDEA if this is a dip, or if all of this (in ALL markets) will be extended declines and what the long term impact of this virus will be.

    Reference (interview with Dr. Michael Osterholm, a biosecurity and infection disease researcher and author of Deadliest Enemy - Our War Against Killer Germs).

    I caution ppl again on posters who know jack-shit about health. You're not Dr. Michael Osterholm; you have no idea how long this thing can last, how it can mutate, or what its affects will be on the healthcare system!!! You simply want bitcoin to rise so you make a quick buck. This post is about a healthcare concern that people have VERY LITTLE expertise on and it's linked to an expert on this topic so that you can consider his thoughts. Be careful about following clueless traders!!!!

    submitted by /u/mzzj3ackson
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    Red Thursday

    Posted: 12 Mar 2020 04:16 AM PDT

    I think this is one for the history books. Bitcoin remains my insurance against fiat currency. Thoughts, anyone?

    submitted by /u/Lomofre88
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    Why Price Doesn't Matter and What Safe Haven Means: Bitcoiner Prescience is Second to None

    Posted: 12 Mar 2020 05:28 AM PDT

    A lot of people have noticed that some of the most knowledgeable Bitcoiners have been talking about the risks and dangers of the COVID-19 threat far earlier than most other people. This prescience is a reflection of a deeper understanding of the problems with current societal, financial, and government structures.

    True Bitcoiners understand that governments cannot be trusted. They fail, either through corruption or bureaucracy or complacency or ignorance. They are unreliable. And this includes the financial system when tied to government, in the form of money printing. They understand that they are responsible for themselves, to validate the chain with a full node themselves, to not trust anyone else - because of cheating, lying, and general unreliability of others.

    If you observe news and politics, you see that a huge number of people in society are just now complaining about a lack of preparation and a poor response by government. Twitter is full of people complaining about Donald Trump and the CDC and debates between Republicans and Democrats. But Bitcoiners never trusted the government to do a good job in the first place.

    Bitcoin, as the hardest asset in the world, can create confusion with people who don't understand the difference between price and safe-haven attributes. The ones who are "confused" are not actual Bitcoiners, but rather, mostly "traders" who are looking to make a quick buck. These are the so-called "weak hands" and "investors" and they create a large amount of volatility on top of what is the "base price" of Bitcoin.

    Bitcoin is NOT a safe-haven against short-term volatility. Nor, is it a safe-haven against irresponsible trading practices, weak hands, and panic selling. However, it remains the BEST safe-haven against government and societal failure.

    And that failure is what we're observing now. Governments are scrambling to "save the economy" by destroying the currency. Large scale bail-outs are incoming. Huge amounts of debt, borrowing from our children, and our children's children. On top of that, government response has been lackluster at best. It has been criminal, at worst. Distrust in government will only propel a new system, perhaps an overhaul of a system that has completely failed. A return to principles, separation of money and state. While businesses rapidly adjust to the COVID-19 situation by instituting work-from-home policies and clear communication, government schools are responding extremely slow and in confusing/conflicting ways. Governments are not well-suited for fast response times in emergencies. The bureaucracy, red-tape, and lack of overall incentives result in the problems being exposed now.

    Bitcoin is a safe-haven from a failed government fiscal policy. And Bitcoin's "base price" reflects the sum of value of all those who understand that issue - which is guaranteed to grow over time (which is what makes it safe). It is easy to make this claim of guarantee, because people once they understand how bad the system is, will be HIGHLY unlikely to return to trusting the government economic system again.

    So, just to repeat, I am not concerned at all by the volatility. Once all the selling is done, we'll know what the real base price is. The price, above the base, is just noise. It's a large pool of a "fluff" of users who don't care about how governments fail us. They just want a quick profit. Bitcoin is a long-term game. It's growth and success is almost as inevitable as the government's consistent ability to drop the ball - over, and over.

    submitted by /u/anon517
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