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    Bitcoin Daily Discussion, April 18, 2020

    April 18, 2020

    Bitcoin Daily Discussion, April 18, 2020

    Daily Discussion, April 18, 2020

    Posted: 18 Apr 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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    Rat poison squared

    Posted: 17 Apr 2020 05:25 PM PDT

    The Human Rights Foundation is Accepting Bitcoin, Lightning Network, and PayJoin Donations!

    Posted: 17 Apr 2020 08:00 PM PDT

    If every US citizen that receives a stimulus check wanted to buy 0.1 BTC... it wouldn't be possible. There isn't enough

    Posted: 17 Apr 2020 01:19 PM PDT

    And that is being overly generous. There could likely only be less than 0.04 btc per person to go around... if no one else in the world buys any before them. Someone check my math if I'm off, but thought this would be interesting to theorize.

    I am not saying that this would happen (as it definitely wouldn't.) Just wondering what is even possible if the demand increased that much.

    So here we go: Of the $2.2 trillion stimulus package, approx $300 billion is going out as $1,200 stimulus checks. Which would be divided up for 250 million citizens.

    Current supply of bitcoin is around 18 million coins mined. However it is estimated that 3-4 million are lost forever. So let's say that our actual supply available to trade is 15 million (conservative guess).

    If the current total supply mined is 18 million, approx 11 million coins (60% of the total supply) haven't moved from their wallet in 2 years. If we subtract the estimated 3 million lost... That leaves 8 million unlost coins have been held for at least 2 years.

    For arguments sake, let's say that 3 million of those holds will sell if the price increased and the other 5 million will continue to hold. That would leave 3 million that would go from hold to circulation plus the 7 million that are newly minted or already circulating.

    = my estimate of 10 million coins available for market demand

    Divide the 10 million coins by the 250,000,000 citizens with a stimulus check and you get 0.04 BTC per person...

    Now could someone figure out a theoretical price point if demand reached that high? My guess would be to get an average rate of increase vs supply and volume during the 2017 bull run to see the rate of price increase as supply diminishes.

    Again, this is no prediction. Just wanted a better picture in my head of how rare having 1 full BTC is going to be.

    submitted by /u/jazzywaffles84
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    Fed Now Owns 30% of the United States

    Posted: 17 Apr 2020 01:15 PM PDT

    Microsoft patent “W02020060606 CRYPTOCURRENCY SYSTEM USING BODY ACTIVITY DATA” was published 3/26/2020

    Posted: 17 Apr 2020 10:32 PM PDT

    https://patentscope2.wipo.int/search/en/detail.jsf?docId=WO2020060606&tab=PCTBIBLIO&fbclid=IwAR3mmk5o22HuPzSsXdnOsgMDbZCS51qLJU3zsgoJTOqonPtraZZSUanNtng

    ^ I find that patent EXTREMELY interesting. Using human body activity to mine cryptocurrencies... i have many questions. How would he mine from a human body? What relevance is this to Microsoft's evolution? Was Bill Gates in on the board at the time of filing application? What other cryptocurrencies/blockchains follow similar paths?

    Publication number: W0/2020/60606

    I'd like to hear your thoughts! I'd like to hear analysis on the effects of Microsoft on Bitcoin down the road.

    submitted by /u/bjtbtc
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    I am programming the ultime tool to encrypt your Paper Wallet.

    Posted: 17 Apr 2020 11:33 PM PDT

    And about to be 900...

    Posted: 17 Apr 2020 06:51 AM PDT

    Many crypto investors who have their daily job and hobby don’t have enough time to spend reading articles, watching news videos and listening podcasts. Others are newcomers and want to understand the industry as soon as possible.

    Posted: 17 Apr 2020 12:36 PM PDT

    Here are top-3 (IMO) useful resources for every crypto investor:

    1)earn.com

    Service backed by Coinbase. Discover how specific cryptocurrencies work - and get a bit of each crypto to try out for yourself. Actual for beginners in crypto.

    2) coinmorningcup.com

    Free daily morning newsletter with summary of current news. Useful service to save time and get insights about the industry. Always short and relevant.

    3) cryptopanic.com

    Service news aggregator with the ability to filter them by coins and branches. Very convenient for traders due to the abundance of news.

    Share the services you use and recommend

    submitted by /u/OrangeAnalytic
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    good boy

    Posted: 17 Apr 2020 08:06 PM PDT

    “Bitcoin is Gold 2.0” says this millionaire who is buying $150,000 per month in Bitcoin - this interview is great from bitcoin and general terms; energy is consumed by big banks too - he refutes the energy consumption argument of bitcoin! Overall gem interview!

    Posted: 17 Apr 2020 10:28 AM PDT

    You start dating someone. How do you explain you're a bitcoiner, and that you believe the current economic system is crumbling around you without coming across as a crazy person with "extreme views"?

    Posted: 18 Apr 2020 01:52 AM PDT

    I've started dating someone, and since last being in the dating game I have discovered bitcoin and Austrian economics. I'm all about being myself and not changing to suit the fashion, however for a no-coiner, the concept of a new form of money to replace the current economic system may come across as an extreme view, slightly crazy, and unattractive.

    How do you tackle the subject of economics if it comes up and you simply can't bite your tounge with your more Austrian economic views?

    As an example, I was re-reading The Bitcoin Standard (to pass the time during social distancing while staying home), and was asked "what are you reading?". Through fear of goin down a rabbit hole, I simply replied "it's a book on economics and the financial system that we live in". What would you have said instead?

    My other concern is regarding OPSEC. I don't know in these early days of dating this individual how serious it will get. Do I want to share my views on bitcoin only to be asked "do you have any?". While I would never tell anyone the amount I hold, simply admitting that you hold bitcoin decreases your OPSEC. How serious would it need to be to be open and transparent with a partner about your savings (including if some of those are held in bitcoin)?

    I would be keen to hear advice, and personal anecdotes.

    submitted by /u/FracturedKnees
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    What does Admiral Ackbar think about it?

    Posted: 17 Apr 2020 01:19 PM PDT

    Cryptocurrency and Blockchain Stream

    Posted: 18 Apr 2020 01:57 AM PDT

    Hey guys and gals,

    I recently started streaming content about cryptocurrency and blockchain. For now, the streams are very simple and short and they generally involve me looking at the news and reading anything I find to be noteworthy. It's a very small stream with about 10 viewers joining in for every session, but I'm hoping to grow the channel over time.

    I would love if you joined in on the session later today at 3pm CET.

    I do my best to stream every day at the same time.

    You can check out the VODs on YouTube (gaming content as well) https://www.youtube.com/channel/UC2_Bc50dSTpiqKESQ_caEEQ?view_as=subscriber

    And if you want to join in on the live discussion, the best place for that is https://www.twitch.tv/spirkovski

    Lastly, this is a work in progress. Things will change and improve over time, and all feedback is highly appreciated! :)

    submitted by /u/ZoranS223
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    25th Word in Seed

    Posted: 18 Apr 2020 12:24 AM PDT

    Hey guys, When I set up my wallet I recorded a list of 24 words for my seed. I keep hearing about a 25th, what's that about?

    submitted by /u/loriba1timore
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    Bitcoin on ice

    Posted: 17 Apr 2020 02:06 PM PDT

    PSA: For beginner questions, please go to /r/bitcoinbeginners

    Posted: 17 Apr 2020 09:01 PM PDT

    fucking genius

    Posted: 17 Apr 2020 02:51 PM PDT

    Black Swan author urges: “Use cryptocurrencies!”

    Posted: 17 Apr 2020 07:09 AM PDT

    Can I get bitcoin underage?

    Posted: 17 Apr 2020 11:06 PM PDT

    I wanted to start trading bitcoin, but I cannot since I am under 18. Any ways I could still trade while not having to wait [confidential] years?

    submitted by /u/pansexualsquirrl
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    Early E-Cash days

    Posted: 18 Apr 2020 03:38 AM PDT

    VanEck CEO: No [Real] Reason to Not Allow a Bitcoin ETF in the U.S

    Posted: 17 Apr 2020 09:50 AM PDT

    Full node.

    Posted: 17 Apr 2020 08:37 PM PDT

    How much of big deal is running a full node? I understand it is to verify that you did actually buy bitcoin and not some counterfeit or whatever and that it helps the network.

    I just wonder if it is some circle jerk on Twitter.

    • What % of bitocin owners run a full node (estimate)?

      • What is the probability that my bitocin is not actually bitcoin (I.e should have used a full node)?

    Thanks.

    submitted by /u/Zaidinator7
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