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    Sunday, June 14, 2020

    Bitcoin Daily Discussion, June 14, 2020

    Bitcoin Daily Discussion, June 14, 2020


    Daily Discussion, June 14, 2020

    Posted: 14 Jun 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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    #StayWoke

    Posted: 13 Jun 2020 09:36 AM PDT

    JPMorgan: Bitcoin's Market Structure More Resilient Than Currencies, Equities, Treasuries and Gold | News Bitcoin News

    Posted: 13 Jun 2020 05:06 PM PDT

    WHY ARE YOU NOT RUNNING A NODE??

    Posted: 13 Jun 2020 10:46 PM PDT

    SEC says “Of course! Go Ahead!” to Bankrupt Hertz Car Rental, but a BTC ETF is too risky and not a liquid market?

    Posted: 13 Jun 2020 06:51 PM PDT

    Wasabi Wallet’s advisory for Trezor users

    Posted: 14 Jun 2020 01:46 AM PDT

    BTC got referenced in Netflix's Casa de Papel (Money Heist)

    Posted: 14 Jun 2020 03:12 AM PDT

    I just finished S02 and there's a scene where they have to go to the dark web and by weapons. It's not the best advertisement for BTC because of it's purchase reference but then at the last episode they explain how money is printed out of thin air. This part was really interesting and got my wifes attention.

    submitted by /u/frankyj29
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    I see posts on here occasionally of people using BTC at their local store, but never thought I would see it in my rural Wisconsin town. Bought a slice of pie at the local farmer's market with BTC, just because I could! They gave me a second slice of pie for free.

    Posted: 13 Jun 2020 10:53 AM PDT

    We’ll never know Bitcoin’s full potential until government’s recognize it as a fully legal currency with 0 capital gains taxes levied when it is used as a medium of exchange.

    Posted: 13 Jun 2020 03:26 PM PDT

    We have to apply pressure at every level of government to make this happen.

    Once this happens, then we can finally fairly judge Bitcoin on its merits, rather than this quasi-legal limbo it's stuck in now.

    submitted by /u/the420chronicler
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    Ledger closed source

    Posted: 13 Jun 2020 09:22 PM PDT

    Hi all, I'm having second doubts about Ledger, can we really trust them since they're closed source? Couldn't they have put any type of backdoor malicious code or something that messes with the RNG of the seed? Is trezor better because of this?

    In short I want to know how safe my coins are when I put them into my ledger, is there a way to make my ledger even more secure?

    Thank you for your inputs!

    submitted by /u/Baseme6
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    How can it be that literally every Website requires KYC to buy Bitcoin?

    Posted: 13 Jun 2020 11:53 PM PDT

    There are like 200 countries in the world many of them don't have any crypto laws at all.

    So, why isn't there a site based in country without any crypto regulations that allows me to buy BTC via bank transfer without KYC?

    Thx.

    submitted by /u/0xCuber
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    May This Sunday Bring all The Good Things in Your Life, May You have a Fantastic Week ahead. HAPPY SUNDAY

    Posted: 13 Jun 2020 08:25 PM PDT

    Accidentally impulsed adding money to Robinhood investment thinking I could buy stuff with bitcoin. Now I’m no clue how to get my money back, not seeing any straight forward answers on withdrawals online, sorry If this is spam

    Posted: 14 Jun 2020 02:29 AM PDT

    How to Earn and Sell for Crypto - a bunch of useful information from Andreas Antonopoulos

    Posted: 13 Jun 2020 06:11 PM PDT

    I find it weird how crypto subs “celebrate” articles about the feds printing money out of thin air while Tether is ranked #3 market cap doing the exact same thing.

    Posted: 14 Jun 2020 04:00 AM PDT

    I'm not sure what to make out of it.

    submitted by /u/ElliotMeijer
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    Countries are pushing towards going cashless, that means every street drug dealer will end up using bitcoin. Illegal drug market is valued at $360 billion. Bitcoin's market cap would need to double to handle this.

    Posted: 13 Jun 2020 12:34 PM PDT

    Think about it, digital dollar is coming, other countries are pushing to get rid of cash too. Some of it is to push to get tax money, other reason is to push negative interest rates, among other reasons. There way more black market transactions that just drugs, but drugs alone is valued at $360 billlion. Bitcoin would need to double to handle that. Meaning price will go up at minimum +100%

    I know this isn't the best reason for bitcoin to go up, but the underlying economics of it still hold true.

    submitted by /u/dancingbearstonks
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    Bitcoin, Cryptocurrency, Finance & Economics - Weekly News Wrap Up June 8-14th 2020

    Posted: 14 Jun 2020 03:42 AM PDT

    Winner? ��

    Posted: 13 Jun 2020 02:52 PM PDT

    Winner? 🤔

    USD:

    • What backs the US dollar? Nothing, only the faith that it has value
    • How many dollars in circulation? Nobody knows
    • Can more dollars be printed? Yes, the FED can print unlimited dollars when needed
    • Who controls the dollars? The FED
    • Does the dollar lose buying power? Yes, USD inflates 1.38% every year. It inflates more when the FED prints more dollars. #BRRRRRR

    BTC:

    • What backs BTC? Code and Math
    • How many BTC in circulation? As of now, 18,403,762 but there will only be 21 million created
    • Can more BTC be created? After 21 million have been mined, no more BTC can be created
    • Who controls BTC? No entity owns BTC
    • Does BTC lose buying power? No, BTC is a deflationary asset, so it will deflate causing it to be worth more in value

    In conclusion, who do you think wins? Let me know in the comments and also write down any more questions that should have been added to the post. Thanks!

    https://preview.redd.it/ymj852h1uq451.png?width=400&format=png&auto=webp&s=dc5f749d9e0872a1c56c5b8f1aa1cdb6fe3400b5

    submitted by /u/Mari0805
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    "A Crash in the Dollar is coming." --Bloomberg (Yeah. No SHIT!)

    Posted: 13 Jun 2020 08:06 PM PDT

    The definition of Hodl.

    Posted: 13 Jun 2020 07:15 AM PDT

    Central Banks loot and no one cares

    Posted: 13 Jun 2020 09:52 AM PDT

    This has been boggling my mind for the last few hours any answers so I can go to bed?

    Posted: 13 Jun 2020 11:45 PM PDT

    This may be a dumb question and forgive me if it is but I've been trying to figure out ways to get bitcoin more mainstream for people/essentially for merchants to be able to get it adopted to the public, but suppose you were a merchant and wanted to setup a subscription service automatically charge a certain amount from someones wallet monthly for a service? (I.e if you were netflix and needed to charge a customer's bitcoin wallet $7.99 monthly) how could this be done? Is this even possible in the crypto world? Wont you need a person's private keys in order to get into that account and do it? We know nobody in their right mind is giving that up.

    I know you could essentially just send an invoice with a public key for your customer to pay. But is there a way to automatically just charge someones wallet without having to send a bill like some services do on credit cards? 🤔

    submitted by /u/idonthaveausername24
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    Books about Bitcoin and blockchain

    Posted: 13 Jun 2020 08:45 PM PDT

    Hi all, I'm an avid book reader and I have been struggling since public libraries closed due to Covid. Since in my region is planning to re-open them slowly, I was wonder if you have any good books you have read about bitcoin and blockchain you would suggest to read. Intermediate - advance level is preferred, but for the whole community, if you have any beginner entry level book WE take it :) Thank you so much!

    submitted by /u/MarcoNY88
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