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    Bitcoin Daily Discussion, May 25, 2020

    May 25, 2020

    Bitcoin Daily Discussion, May 25, 2020

    Daily Discussion, May 25, 2020

    Posted: 25 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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    What BTC doing?!

    Posted: 24 May 2020 02:17 PM PDT

    More than 100 addresses with unmoved bitcoin mined in 2009 (Satoshi?) just signed a message against CSW

    Posted: 25 May 2020 02:53 AM PDT

    https://paste.debian.net/plain/1148565

    I just started checking some addresses, confirmed the signatures, and verified these are addresses with 2009 mined unmoved coins.

    Source: /biz/19322237

    Can anyone confirm if these match the "Patoshi" addreses?

    submitted by /u/bit_LOL
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    Our 10 MW bitcoin mining farm in Kazakhstan. We do provide hosting services and custom mining projects for institutional investors.

    Posted: 24 May 2020 11:07 PM PDT

    Instead of buying a car with our BTC proceeds from last week, we decided to give back...#autismawareness

    Posted: 25 May 2020 01:10 AM PDT

    All this time I just assumed hodl meant “Hold On for Dear Life”.

    Posted: 24 May 2020 12:44 PM PDT

    Say hello to my little friend

    Posted: 24 May 2020 11:06 AM PDT

    Mt Gox N/A

    Posted: 24 May 2020 07:59 PM PDT

    The average US worker must now work 126 hours to buy a single share of S&P 500 index. In 1980 it was 20.

    Posted: 24 May 2020 09:50 AM PDT

    You don't have to sell bitcoin

    Posted: 24 May 2020 06:39 AM PDT

    Mentor Monday, May 25, 2020: Ask all your bitcoin questions!

    Posted: 25 May 2020 04:00 AM PDT

    Ask (and answer!) away! Here are the general rules:

    • If you'd like to learn something, ask.
    • If you'd like to share knowledge, answer.
    • Any question about Bitcoin is fair game.

    And don't forget to check out /r/BitcoinBeginners

    You can sort by new to see the latest questions that may not be answered yet.

    submitted by /u/rBitcoinMod
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    A significant drop in total hashrate happened since the halvening

    Posted: 24 May 2020 03:47 PM PDT

    I just realized it’s been a long time since we’ve seen an exchange scandal

    Posted: 25 May 2020 01:07 AM PDT

    We should create a ticker that says how many days since the last one. Wasn't it Bitfinex back in 2016?

    submitted by /u/party_hardly
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    Buying under $9000 right now, I feel like I’m steeling money.

    Posted: 24 May 2020 11:34 AM PDT

    And it never felt so good

    submitted by /u/bry31089
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    Choose your side

    Posted: 25 May 2020 03:17 AM PDT

    Mining Companies Seize Mining Bitcoin due to unprofitability? Your views.

    Posted: 25 May 2020 03:05 AM PDT

    Mining Companies Seize Mining Bitcoin due to unprofitability? Your views.

    Hello People,

    ​

    Was going over some Publicly listed companies that mine cryptocurrencies and came through this chart below:

    ​

    Source: Hive Blockchain Technologies LTD; Coinmarketcap.com; blockchain.com

    In their Corporate presentation, it was written that they have seized mining bitcoin, mainly due to mining costs that became higher than the reward (un-profitability). Is this something that raises concern over the price and value of a bitcoin? and is this a trend between large mining facilities?

    If this is is yet to a be trend at this moment, won't it become one in the next 4,8,12, etc years as more and more halvings are due?

    Ignoring other factors, it seems imminent that either bitcoin price skyrockets to match the costs to buy bitcoin, or it flats out mainly due to miners moving towards altcoins. If the latter happens, then, bitcoin transactions won't be processed and it becomes more or less useless.

    I am just thinking out loud here, and not trying to be a pessimist or an optimist. What are your views on the matter?

    TLDR: Large-scale mining companies seize mining BTC, is this a trend? If BTC price doesn't accommodate the cost to mine, then BTC price might go flat. Do you agree, or disagree? Why?

    ​

    Source of presentation and info: https://www.hiveblockchain.com/investors/presentation

    Disclaimer: I am in no way advocating or not advocating that company, but merely presenting some information I came by.

    submitted by /u/Suheilaaita
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    BitBox02 & KeepKey honest reviews

    Posted: 25 May 2020 12:49 AM PDT

    BitBox02 & KeepKey honest reviews

    Hey, Bitcoin community 👋

    I've just joined after a small research over the web, and decided to share some of my thoughts about these hardware wallets as individual experience.

    KeepKey

    The first hardware wallet I've received was the KeepKey, which acquired by the ShapeShift platform. It has some great advantages I liked at first sight:

    1. Using ShapeShift platform web to communicate between the wallet and the outside world. On the platform you could watch your assets with nice graphs, send & receive Bitcoin (and other ERC20 tokens) and trade between assets without commission (as long as you have FOX tokens - more on the ShapeShift subreddit).
    2. The most cheap hardware wallet, can be purchased for only 10$ here
    3. Great customer support! any question I sent them was answered quickly

    The KeepKey via the web platform needs to be verified by a PIN (4 to 9 digits) of your choose. I didn't like it has there is no zero ("0") digit, only one to nine.

    KeepKey verifies PIN screen

    The PIN pattern on the KeepKey large screen (which is great advantage!) changes every time you unlock it, and numbers are not shown over the web (only dots). All actions on the web must be approved by one single button on the device it self and all the details shown very nicely!

    Receiving Bitcoin on KeepKey - address and QR shown (and can be scanned)

    KeepKey implemented a great privacy feature that each successful transaction changes the wallet's address. On the other, once you got the transaction done you can't see this address anywhere again.

    Some of the disadvantages that made me move to the BitBox02, are:

    1. The lack of USB-C adoption. It was a bit frustrating looking for an adapter every time I wanted to connect it to my MacBook, which has USB-C ports only.
    2. Mobility isn't available, as you must use the ShapeShift platform (no native desktop program nor mobile application is available)
    3. Chrome is the only supported browser and the platform can't be used by any other.
    4. Not sure about the build quality. When I first opened the box, the upper half of the device wasn't parallel to the bottom, made me a bit nervous
    5. Not supported bech32!
    6. Lead to KYC

    MicroUSB connector and edgy built

    Overall, I find the KeepKey a great wallet, decently for this low price and the platform as some nice features. KeepKey has a Chrome extension which will be removed by June of this year, as the Google removes Chrome App Store.

    ------------------------------------------------------------------------------------------------------------------------------------------------

    BitBox02 Multi edition

    So, after the downsides of the KeepKey I was waiting for my wallet of choice, the BitBox02 which was built by the Shift Cryptosecurity, it is much smaller device but I find it more useful and much easier to use everyday.

    The BitBox02 has two types, one for Bitcoin only and one for Bitcoin and some others. Currently not many coins supported, which isn't a great (Bitcoin, Ethereum, Litecoin and some other ERC20).

    Shift Cryptosecurity has some other type of threat model, it has no seal tape on the box to verify it's a legit unboxed wallet, as many manufacturers (including KeepKey) does; they actually vacuuming the box and make it almost impossible to cut it without notice. As for now, they working on new awesome feature called "Tep", a really innovative idea! watch the video, it's really great!

    Inside the box there was a USB-C to USB-A adapter (awesome thing to provide!), extended USB-C cable, stickers, microSD card (soon to be explained why, but again, awesome they send it included) and the device it self.

    Some of the advantages are:

    1. Native desktop program for MacOS, Windows and Linux
    2. Android application (hope for iOS soon as well), which is great for mobility
    3. Easy to use and guided through every step of the initialisation
    4. MicroSD card used to backup (not encrypted) the keys, another method for users, along with the 24 mnemonic passphrase. It's nice feature to have for those who aren't that technologically.
    5. Secure chip built-in the device
    6. Able to use with Electrum

    BitBox02 has no buttons, it has a unique gesture touch sensors on it's sides and it used a slide, tap and hold gestures.

    Supported low and capital letters along with all 0-9 digits

    The device will wipe it self after 10 times of wrong password. Backup of the keys can be done by the microSD card or by the 24 words.

    BitBoxApp, receiving address must be verified on the device

    Verify on the device by single tap

    Same as the KeepKey, the BitBox02 generates a new address each time you made a successful transaction, keeping the privacy in mind and focused. another nice feature to have is that the BitBox02 has U2F ability, which means websites like Google, Facebook, Twitter and else can be 2FA with a physical security key, a great way to secure accounts.

    ------------------------------------------------------------------------------------------------------------------------------------------------

    In my opinion, KeepKey is a great wallet but I liked the BitBox02 more, specially because of the mobility and the ease of use on any OS no need to download Chrome, although it's bit more expensive.

    submitted by /u/Sh0ham
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    I dreamt that bitcoin had dropped to $3,283 and I ended up with a sock with that number stitched on it.

    Posted: 25 May 2020 02:57 AM PDT

    I have no history of dreaming with numbers or even remembering much of my dreams but last night was really unusual so I am sharing it. Bitcoin went into free fall and somehow my computer spit out a sock with that number on it. It was supposed to be a physical coin but it was a sock with the number $3,283 on it. Good luck everyone.

    submitted by /u/IceColdSeltzer
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    Binance and Coinbase Accused of Insider Trade (Again)

    Posted: 24 May 2020 01:26 PM PDT

    10% is the goal

    Posted: 24 May 2020 08:31 PM PDT

    Monday Art - BЩΛП

    Posted: 25 May 2020 01:12 AM PDT

    Researchers recorded world's fastest internet speed of 44.2 Terabits per second.

    Posted: 25 May 2020 03:38 AM PDT

    Frustrating talking to people who don't understand Bitcoin, but force their opinion

    Posted: 24 May 2020 05:06 PM PDT

    Just had a conversation with a friend of a friend who works in cyber security. She basically shit on Bitcoin security and said exchanges can be hacked, but she didn't understand what a hard wallet was when I tried to explain. Then she said the government will step in and take it over. I explained how the decentralization aspect is essentially the core of Bitcoin and that the government can't just come in and change that and that that's why Bitcoin is so special. This seemed over her heard. Then she proceeded to tell me it was just a ponzi scheme held up by market manipulation and will eventually crash when the market manipulators want it to. Finally, she said she when she heard about it in 2017 she assumed a Bitcoin would be worth 400 dollars max right now. I calmly tried to explain these things to her and it was in one ear out the other. I have experienced this a few times with people who for some reason adamantly dismiss Bitcoin for no valid reason and feel the need to force their thoughts down your throat and not listen to the truth. Guess it'll be her loss on the way to the moon

    submitted by /u/HairBones69
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    Don't forget why we are here, now institutional money has arrived, it's the time to remember our purpose, not just count our profit!

    Posted: 24 May 2020 03:31 PM PDT

    Beware of O-George

    Posted: 24 May 2020 06:33 PM PDT
    Read more
    at

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