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    Bitcoin Daily Discussion, March 23, 2020

    March 23, 2020

    Bitcoin Daily Discussion, March 23, 2020

    Daily Discussion, March 23, 2020

    Posted: 23 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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    The Federal Reserve says there is an "INFINITE AMOUNT OF CASH". This is quite literally the reason bitcoin was created.

    Posted: 22 Mar 2020 06:53 PM PDT

    "I don't look at recessions as a bad thing. I mean, it's bad for America. It's bad for the people that are unemployed. It's usually an opportunity for J.P. Morgan." - Jamie Dimon, CEO of J.P. Morgan Chase

    Posted: 22 Mar 2020 12:35 PM PDT

    Update: Crypto survey for college, and results

    Posted: 22 Mar 2020 04:01 PM PDT

    Ok so first of all - thank you to all of you who participated in a survey i posted yesterday, i got almost 300 submissions.

    I'm doing my presentation in around 12 hours from now, so if you haven't already - please answer this short and anonymous survey about cryptocurrencies- https://docs.google.com/forms/d/e/1FAIpQLSeE0m_2Yp4h9loMGcBtUpbDYWk2v3sqd26LeemwdtRN9oB1VA/viewform?usp=sf_link

    Thank you all again, and if you have 2 free minutes - fill the survey !:)

    And since i got quite a few requests to share the results, here they are.

    What is your Gender?
    What is your age?
    What is your occupation?
    What cryptocurrency do you use the most?
    What do you use cryptocurrencies for?
    How many crypto related transactions per week do you make?
    When did you get into cryptocurrency?
    Do you think cryptocurrency can completely replace cash?
    Why do you like cryptocurrency?

    submitted by /u/elninjafuego
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    Three of my friends out of the blue said they’re buying bitcoin

    Posted: 22 Mar 2020 05:29 PM PDT

    In the past week, three of my friends I've been hyping bitcoin with over the last year... told me they are buying or just bought bitcoin.

    I think it's a combination of the huge price drop and fear about the economy. They all commented on how it's not "too expensive" now.

    I've been worried about bitcoin lately, and seeing all this interest from people who wouldn't even consider before was surprising, and makes me feel more optimistic.

    submitted by /u/Meta_Modeller
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    It's been a fun ride

    Posted: 22 Mar 2020 06:06 PM PDT

    It's been a great 3 years being in Crypto but now I'm clueless. Been dollar cost averaging since 14k levels and made some profits here and there. Ever since covid 19, I've lost my job, lost 50% of my stocks and now -60+% down in crypto. I officially cashed out my leftovers in crypto and stocks. These bills aren't getting paid if this recession continues... So long, BTC. ✌🏼

    submitted by /u/DaYakuzaa
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    ‘Buy Bitcoin’ Searches Skyrocket, Exchange Volumes Spike, Crypto Account Signups Swell 83% As Coronavirus Fears Heighten

    Posted: 22 Mar 2020 11:46 PM PDT

    Wise words in times like these.

    Posted: 22 Mar 2020 10:38 AM PDT

    Don't worry guys, there is an infinite amount of Fed Reserve money. All is fine. Neel "kash" Kashkari - trusted Banker

    Posted: 22 Mar 2020 07:41 PM PDT

    This Economic Crisis Will Be Different Because Bitcoin Is Here to Help You Protect Your Money

    Posted: 22 Mar 2020 03:09 PM PDT

    Def interesting! "Andreas Antonopoulos: Bitcoin (BTC) Is the Story of Something That Refuses to Die" #Bitcoin

    Posted: 22 Mar 2020 10:21 PM PDT

    Is there a corpus of all of Satoshi's known writings?

    Posted: 22 Mar 2020 11:27 PM PDT

    I'm looking for a text file or corpus containing all of Satoshi's known writings.

    https://satoshi.nakamotoinstitute.org contains a lot of it, but I believe it's missing some emails, and it also doesn't let you download a single file or page containing all of the text. It wouldn't be that much work to compile it into one, but was just curious to see if anyone else has done the work already.

    I'd ideally like something with some form of marking or label which shows the dates, location of each post, and recipient of each email. (Doesn't necessarily need to be in a program-readable format like CVS.)

    submitted by /u/c_o_r_b_a
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    SNB Spent Nearly $6 Billion on Currency Interventions Last Week

    Posted: 23 Mar 2020 03:49 AM PDT

    Big Blow Coming for Miners: After Halving, Mining One Bitcoin Would Cost $15,100

    Posted: 23 Mar 2020 03:32 AM PDT

    Fed will make up to $4 trillion in loans to businesses to rescue the U.S. economy, Mnuchin says

    Posted: 22 Mar 2020 01:06 PM PDT

    How about this.

    Posted: 23 Mar 2020 03:53 AM PDT

    Upcoming Bitcoin Halving Is 51 Days from Now, Could Save Crypto Market

    Posted: 23 Mar 2020 03:47 AM PDT

    An analogy for Bitcoin as a medium of exchange

    Posted: 22 Mar 2020 10:44 AM PDT

    I see the argument a lot that lack of adoption is driven by Bitcoin not being a widely accepted medium of exchange, and that we need to spend Bitcoin instead of hodl or else it will vanish into obscurity. In light of the global pandemic, I thought of an analogy that might strike a chord with some of you.

    Let's say you have been stocking up some food to be better prepared for lockdown or supply chain disruptions. You have fresh fruits and vegetables, as well as packaged and canned goods. Which food do you eat first? I think the obvious answer is you eat the fresh food, the food that is going to spoil first, or at least favor it heavily, because if you only eat the canned goods then by the time you're hungry for the fresh food it will be spoiled already.

    I think the same thing happens with money. Hard money like Bitcoin is similar to canned goods in this analogy, as it will retain the value for much longer than something that was already starting to spoil the day you got it.

    Why would someone spend Bitcoin when their paper money is actively spoiling and losing value? As long as someone else is willing to accept your soft money in exhange for something you want, it is in your best interest to spend it first. Then when all the soft money is spoiled and you can no longer find someone willing to exchange for it, you can start eating into your hard money.

    submitted by /u/yankthrough
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    Understanding Bitcoin Market Participants – Vulnerabilities in the Price of Bitcoin Driven by Miners

    Posted: 22 Mar 2020 10:19 AM PDT

    Antifragile

    Posted: 23 Mar 2020 03:09 AM PDT

    Worlds financial system is collapsing. there is only one alternative. do u want to hold a piece of the future?

    Posted: 22 Mar 2020 02:27 PM PDT

    well the fiat system is going to shit and people will get fucked hard once again. if u don't want to keep getting fucked adopt bitcoin. sure there is also gold standard but they just gonna fuck us again in the same way

    submitted by /u/satosidj
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    Crypto Backed Loan That Reports yo Credit Bureaus?

    Posted: 23 Mar 2020 02:51 AM PDT

    Hey guys, long time bitcoiner (since they were $5) and I have recently ventured out into the new crypto-backed lending space which offers some actual good value especially when compared with a conventional secured line of credit.

    So far I have checked out Cred (pass, trying too hard to cozy up with US regulators, says US clients can't borrow based on their collateral for *six months * which is a deal breaker for most I would imagine.

    I have personal experience with Nexo.io which is in all but name a Swiss Bank account, pays great interest on stables (8%) and a great lending service allowing you to withdraw up to 75% of your bond in USD at under 6% if you 1.) hodl nexo tokens greater than the default 11-12% APY for the interest discount and 2.) deposit a bond that is 51% BTC/ETH & 49% Stables (again, US regulations) but ny main qualms with that service are that the advertised fiat payment options (especially the withdraw/spend ones) are not even close to as far along to their release dates as advertised. The nexo credit card for insurance, like nearly all other crypto to plastic offerings, appears to be essentially vaporware, and the USD credit line withdrawal to US bank accounts does not seem to be up and running either (so no ACH out either).

    Nexo is a legit company to be clear, you can still withdraw your available credit line in Tether USD, but none of these services as far a as I can tell, will report positive payment information to the three major credit bureaus in the US, which to me is the main draw for applying to receive credit if any kind is the credit score boost from paying it off in full, because my score is trash but I want to own a home at SOME point so..

    Anyone know of any crypto-backed lending solutions that will report information to to the 3 major United States credit bureaus ? If you have a referral code too I will most definitely meet whatever deposit/lending mínimums would be needed to unlock a reward. Thanks guys.

    submitted by /u/alexbarbershop
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    Bitcoin Buying Boosted in Venezuela as Bank Branches Close Down

    Posted: 22 Mar 2020 12:29 PM PDT
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