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    Bitcoin Daily Discussion, May 20, 2020

    May 20, 2020

    Bitcoin Daily Discussion, May 20, 2020

    Daily Discussion, May 20, 2020

    Posted: 20 May 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.

    Join us in the r/Bitcoin Chatroom!

    Please check the previous discussion thread for unanswered questions.

    submitted by /u/rBitcoinMod
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    I FINALLY understand it!

    Posted: 19 May 2020 03:54 PM PDT

    One year ago, was the first time I bought R$ 1.000 (US$ 244) in Bitcoin when 1 BTC = US$ 7.100. Today the value is US$ 9.700. So, I expected that those R$ 1000 would be at R$ 1360, but I was very wrong!

    The exchanges here in my country, they base the Bitcoin price in US$ dollar, they just convert it to R$ Real. At that time, 1 BTC = R$ 29.350, now days 1 BTC = R$ 55.500. This means that my original R$ 1.000 is now almost at R$ 1.900! That's because Brazil is in a really bad political and economic situation and the price of dollar is all times high, making R$ Real devalued.

    That's when it hit me. Now I understand why people on nations that is f*cking their money up buys BTC, it saves it from inflation! Recently the Halving happen and it hit me again, Bitcoin is a deflationary money! Every day it becomes a scarce resource, but the demand is the same, making the price go up! Bitcoin is not the future, it's the present! It puts me in the control of my wealth instead of a bunch of incompetent nations and politicians!

    submitted by /u/DestructorEFX
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    The Fed in 2020

    Posted: 19 May 2020 09:51 AM PDT

    New Amazon Prime documentary shows how Bitcoin is changing Africa

    Posted: 20 May 2020 12:23 AM PDT

    Remember, use "bc1" BECH32 addresses

    Posted: 20 May 2020 02:41 AM PDT

    to pay the least amount of fees you should always use bech32 addresses, the ones beginning with "bc1"

    they are 45% cheaper than legacy "1" addresses and 15% cheaper than legacy "3" addresses and they are more secure

    if you have an exchange that does not support bech32 addresses or worse does not support segwit at all...

    well, are you really trusting with your money and your trades an exchange that in 3 years did not implement a simple upgrade for the sake of it's users?

    honestly I would not!

    submitted by /u/Miky06
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    A 50k Bitcoin price would mean it is only about 12% the market cap of gold, about equal to a large tech company

    Posted: 19 May 2020 08:03 PM PDT

    I'm no genie and I know most of you around here are bullish long term, but I do see the occasional naysayer who thinks Bitcoin is worthless or that shits on anyone who makes a strong prediction regarding the future price possibilities. People were saying the same type of stuff when the price was $10 saying it would never touch $100, and again when the price was $1000 saying it would never touch $10k. Now it's people saying we'll never sniff 50k, 100k, etc. But a 50k Bitcoin would correlate to about 12% of the value of gold. This seems almost likely rather than just a possibility. A 50k Bitcoin would make the entire asset class worth about 1 trillion dollars, there are a handful of singular companies worth a trillion dollars and we are talking about an entire asset class. Ignore the dips and urges to sell and HODL everyone! I think big days are coming in the years to come

    submitted by /u/HairBones69
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    BTC mining difficulty drops by 6 %, in first adjustment after halving

    Posted: 20 May 2020 03:52 AM PDT

    Get one before they run out.

    Posted: 19 May 2020 03:14 PM PDT

    Bitcoin Million Club

    Posted: 19 May 2020 10:05 PM PDT

    This person really should have got a Trezor... $200k loss

    Posted: 20 May 2020 12:04 AM PDT

    https://www.reddit.com/r/legaladvice/comments/gmzoko/my_sister_was_the_victim_of_200000_loss_most_of/

    Why on Earth would anybody leave $200k on an exchange?

    If this is real, that's a lot of money to lose because they didn't want to spend $60 on a Trezor.

    Not your keys, etc etc.

    submitted by /u/MostBoringStan
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    Slush Pool ⛏: “The good folks at Square Crypto are supporting our initiative to establish a new, more decentralized, standard for Bitcoin mining with a development grant. If you want to contribute to Stratum V2 (Rust), get in touch!”

    Posted: 19 May 2020 05:49 PM PDT

    Not your keys, not your coins...

    Posted: 20 May 2020 05:00 AM PDT

    bitcoin source code tag cloud

    Posted: 20 May 2020 01:28 AM PDT

    Bitcoin Optech Newsletter #98

    Posted: 20 May 2020 04:13 AM PDT

    Introducing Tropic Square - Why transparency matters

    Posted: 20 May 2020 01:58 AM PDT

    Not a Lambo, but it is a Limited Edition! Stranger Things LE Pinball! #hodl

    Posted: 19 May 2020 02:21 PM PDT

    The Missing Bitcoin Millionaire - Internet Mysteries

    Posted: 19 May 2020 11:12 PM PDT

    Miners are starting to eat the 40-50 sat/b fee band now that the retarget is done.

    Posted: 19 May 2020 09:19 PM PDT

    Bitcoin vs Financial Institutions

    Posted: 20 May 2020 06:05 AM PDT

    Major Swedish bank to stop cross-border transfer to 50 countries!

    Posted: 20 May 2020 02:36 AM PDT

    In an astonishing decision, Handelsbanken, 4th largest bank in Sweden decides to add many more countries to it's black list for international transfers to avoid money laundering and sanctions issues. There are now 50 countries in their blacklist! (Source: Omnekonomi website.)

    To completely block transfers to / from 50 countries, including major economies like Turkey, Russia and Brazil, will have major international business ramifications for free trade, free market, and citizens personal freedom.

    See their updated list of "countries open for cross-border payments"

    submitted by /u/Khoramyar
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    I'm super happy to announce my app PixelPortfolio is now available on IOS (and android)

    Posted: 19 May 2020 08:27 AM PDT

    Bitcoin: A Generational Investment?

    Posted: 19 May 2020 04:18 PM PDT

    Adding your wallet to Bitcoin.core

    Posted: 20 May 2020 02:51 AM PDT

    Hi. Can anyone pleas help me on how to add my existing wallet with Localbitcoin to use with bitcoin.core? may be a very noob question....

    submitted by /u/fornalutx
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    My failed thought experiment at DDOS-ing the BTC network

    Posted: 20 May 2020 02:47 AM PDT

    Lets say I have 10 Bitcoins and I want to attack the network. What I would try to do is to split those coins and start sending them to myself in 10000 transactions per every generated block. Since the network can handle only ~5 transactions per second (~3000 transactions per block), I should effectively DDOS the servise, right?

    WRONG!

    Transactions cost fees, so those would very quickly dissolve my coins and give them to miners. If I would decide to not pay fees, then my transactions would take weeks at least to confirm instead of ~10 minutes, thus diminishing my malicious efforts. Meanwhile, everyone else who pays even $0.01 fee per transaction would get ahead of me.

    ​

    (Originally I wanted to ask if this exploit would be possible, but as I was writing my post, I came to the conclusion myself :P )

    submitted by /u/Boriz0
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    Shopify just added crypto payments!

    Posted: 20 May 2020 06:10 AM PDT
    Read more
    at

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