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    Bitcoin Daily Discussion, June 24, 2020

    June 24, 2020

    Bitcoin Daily Discussion, June 24, 2020

    Daily Discussion, June 24, 2020

    Posted: 24 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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    Venezuela government is officially taking bitcoin as payment for passports.

    Posted: 23 Jun 2020 06:09 PM PDT

    Am I right? am I right?

    Posted: 23 Jun 2020 09:03 AM PDT

    Electrum 4.0 Relase notes. Not released yet. ETA June 2020

    Posted: 24 Jun 2020 03:18 AM PDT

    Bitcoin leads the way in year to date gains

    Posted: 23 Jun 2020 06:47 AM PDT

    Rajarshi Maitra went from zero coding experience to getting his first PR merged in Bitcoin Core in two years and five months.

    Posted: 24 Jun 2020 03:04 AM PDT

    Grayscale is NOT buying 150% of newly minted BTC – here is the real deal

    Posted: 23 Jun 2020 11:24 PM PDT

    I've seen a few posts lately , about how Grayscale (owners of the GBTC – a trust that allows you to invest in Bitcoin via stonk exchanges) is now, post-halvening, buying up over 100% of the newly minted BTC each day based on their daily asset reporting via Twitter. This is not quite true.

    One aside before I get into it… Grayscale requires you to lock up your investment of GBTC (aka mandated HODL) for 6 months. Buy it on June 1 – you can't touch it until December.

    If you look at their Q3 2019 Digital Asset Report you can see that, generally speaking, 80% of the "inflows" of capital were "in-kind" – in other words, they let you send them BTC (instead of USD) for shares in GBTC. Also, 84% of investors are institutional investors (primarily hedge funds).

    So what's happening? Hedge funds are sending BTC to Grayscale (certainly borrowed on margin) and then 6 months later, can cash it out (GBTC trades at a premium to BTC), pay back the margin loan, and pocket the remaining spread. Wash, rinse, repeat.

    Assuming that the 80% in-kind percentage still holds (as reported in Q3 2019), the estimates of "150% of new bitcoin minted post halvening" are actually closer to 30%.

    This is not to suggest that one entity sucking up 30% of new supply is a bad thing, it's just a hell of a lot different than 150%!

    submitted by /u/BeakMeat
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    A lot of people have asked me how to sell their ebooks, music for bitcoin. Happy to see they want to sell it for bitcoin and not fiat. Here is a quick guide for anyone looking...

    Posted: 24 Jun 2020 04:14 AM PDT

    There are several ways to go about selling your digital goods for bitcoin:

    #1. Use e-commerce platforms:

    • OpenBazaar: Decentralised marketplace that lets you sell/buy goods for crypto all over the world.

    #2. Use Third-Party services to create a sellers page

    There are several services that allow you to create a quick sellers page for your product and accept crypto for it, some of such services include:

    #3. Create your own website

    The best way to sell your digital product online for bitcoin is by having your own e-commerce store/website.

    There are tons of website builders that you can use to build your store, some include:

    After you have your own store you need a plugin or extension to accept bitcoin payments, these can include:

    submitted by /u/primalfabric
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    How to hide Your Mnemonic Phrase behind fake words.

    Posted: 23 Jun 2020 03:42 PM PDT

    hodlers vs traders

    Posted: 23 Jun 2020 11:33 AM PDT

    By how much will Taproot/MAST increase Bitcoin’s scalability?

    Posted: 24 Jun 2020 12:19 AM PDT

    Right now, we are at around 11 TPS for Bitcoin.

    Does anyone know by how much Taproot/MAST would increase scalability.

    Would it increase it by for example 20%/2 TPS or double from 11 TPS to around 20 TPS?

    submitted by /u/galan77
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    I mean, they did ask

    Posted: 23 Jun 2020 10:16 AM PDT

    S&P500 pump and dump proves the Bitcoin market is not as manipulated as we may think | CryptoSlate

    Posted: 24 Jun 2020 02:03 AM PDT

    WARNING: Be wary of BATM operators like Coinlinx that DOXX you AFTER they have your money — then refuse to REFUND cash or SEND coins w/out DOXX??

    Posted: 23 Jun 2020 05:44 PM PDT

    Bitcoin's price has outperformed gold by 100% this year

    Posted: 24 Jun 2020 04:58 AM PDT

    I am searching for sources referring to PoW and PoS

    Posted: 24 Jun 2020 01:04 AM PDT

    I my opinion PoW is the best proof of all. Even if its not that "efficient" and resource-saving, but I want to get a deeper knowledge with that topic in general, because I think it is essential for Bitcoin to understand it and questioning it the whole time.
    Do you guys know some good videos or websites/blog posts which referring to this?

    submitted by /u/MahatmaGonnDir
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    You can buy gold with crypto.

    Posted: 23 Jun 2020 10:38 PM PDT

    "Bitcoin: Independence reimagined" is now available on Audible!

    Posted: 24 Jun 2020 02:28 AM PDT

    "Bitcoin: Independence reimagined" by Knut Svanholm is now available on Audible, read by the incomparable Guy Swann from @BitcoinAudible!

    The book has contributions from @hodlonaut @princey1976 and @FractalEncrypt

    This follow-up to "Bitcoin: Sovereignty Through Mathematics" describes the old boxes we have been operating within, and how Bitcoin encourages us to challenge and reshape them. It takes the reader deeper down the rabbit hole and reveals how the honey badger that lives there is still indifferent to people's opinions about it.

    https://www.audible.com/pd/Bitcoin-Independence-Reimagined-Audiobook/B08BFFN95S

    ​

    submitted by /u/Ganoff
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    Chamath Palihapitiya: Why Bitcoin Will Be 'the Category Winner'

    Posted: 23 Jun 2020 04:59 PM PDT

    Is there any simple way for me to buy small ammounts of coin ($5-$10 a month) online without ID?

    Posted: 23 Jun 2020 05:54 PM PDT

    I just want to donate to 1-2 private torrent trackers a month, at $5 each. I don't want to use ID for 2 reasons, 1) I don't want to give out my ID to a large corp just for a few dollars worth of coin and 2) I don't want my ID associated with a wallet that donates to piracy websites. And no I'm not going to pay the RIDICULOUS interest rate my local btc atm's charge, or drive all the way to my bank and do a bank transaction. I would if I absolutely needed the bitcoin, but not just for some small donations. Is there some super secret solution I don't know about, or are the things I listed above my only options? Thanks!

    Edit: Went with localcryptos, easy asf

    submitted by /u/flapisback
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    What is the difference between a hardware walker and a digital one?

    Posted: 24 Jun 2020 02:03 AM PDT

    What do you guys know about owning BTC atms? Is it a good idea?

    Posted: 23 Jun 2020 10:25 PM PDT

    I see that my town doesn't have many BTC atms- I think just one or two at shady check-cashing places. I was thinking about saving up some money and investing in putting one out. Does anyone here have experience with doing something like this? Can you point me towards some guides or forums where I can read about what's involved in owning at Bitcoin ATM? What kind of permits etc would be necessary?

    submitted by /u/cosmicmailman
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    BTC Cold Storage Electrum

    Posted: 24 Jun 2020 12:54 AM PDT

    Is it safe to use store bitcoins described here: https://freedomnode.com/blog/73/how-to-create-and-use-an-offline-bitcoin-wallet-aka-cold-storage-with-electrum

    And when using tailsOS, does it make sense to use tails as offline and/or online wallet?

    Or should i just buy a hardware wallet or use other methods?

    submitted by /u/Cahiaep
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    A 1% allocation to Bitcoin from Pension Funds alone would bring $400B of inflows. A 1% aggregate allocation would easily bring BTC's marketcap to $1 Trillion ($50,000 BTC). Is it ever coming?

    Posted: 23 Jun 2020 02:01 PM PDT

    Gold vs Bitcoin...

    Posted: 24 Jun 2020 12:42 AM PDT

    anybody want to explain why gold is better than bitcoin or vice versa...

    submitted by /u/Shoddy-Brush
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    The PayPal and Venmo news, broken down and analyzed. It's bigger than you think ��

    Posted: 23 Jun 2020 07:07 AM PDT
    Read more
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