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    Bitcoin Daily Discussion, July 18, 2020

    July 18, 2020

    Bitcoin Daily Discussion, July 18, 2020

    Daily Discussion, July 18, 2020

    Posted: 18 Jul 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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    It's time

    Posted: 17 Jul 2020 09:41 AM PDT

    Bitcoin exit plan

    Posted: 17 Jul 2020 07:44 PM PDT

    Step 1. Borrow as much money as you can. Leverage everything.

    Step 2. Put everything into Bitcoin, move to cold storage.

    Step 3. "Lose" Bitcoin in boating accident

    Step 4. Default on all debt. File bankruptcy.

    Step 5. Move to bungalow on a Central American beach.

    Step 6. Find "lost" Bitcoin.

    Step 7. Become world class surfer.

    This is not investment advice.

    submitted by /u/dosoc
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    Bitcoin - The best Form Of Money.

    Posted: 17 Jul 2020 09:08 PM PDT

    “If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.” — Satoshi Nakamoto

    Posted: 18 Jul 2020 12:29 AM PDT

    “Central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.”

    Posted: 18 Jul 2020 02:34 AM PDT

    New Bitcoin Development Grant has been Awarded by Paradigm to Australian BTC Developer Anthony Towns

    Posted: 18 Jul 2020 03:03 AM PDT

    best way to sell bitcoin for cash in Thailand?

    Posted: 18 Jul 2020 02:38 AM PDT

    I was looking on local bitcoins but it all looks like you need a bank transfer. Anyways to meet up and sell or what about using one of the bitcoin ATMs? Any sites im missing?

    submitted by /u/lukekennard123
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    Is there such thing as a bad seed phrase?

    Posted: 18 Jul 2020 12:15 AM PDT

    Providing you didn't chose them yourself and either used: enough entropy from a hw wallet, enough entropy from dice rolls or enough entropy from hw wallet + mixed in dice rolls.

    Can you get bad words? Is it worse if the words are not complex and are more simpler everyday words?

    Also would it matter if you faked a few dice rolls. Like if you felt you were getting too many of 1 number so swapped a couple of rolls for different numbers?

    submitted by /u/ANGRYBOI27
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    Wallets should be called keystores instead

    Posted: 18 Jul 2020 12:46 AM PDT

    There is too much confusing around bitcoin and the crypto community. Many beginners who come here still ask basic questions because of the confusion around the word 'wallet'.

    I've been thinking about this for a while and think we should be calling a bitcoin wallet or crypto wallet, a "bitcoin keystore", or "blockchain keystore" (for multi cryptocurrency wallets).

    It would brush up a lot of confusion/misconceptions:

    • Bitcoins are stored in a wallet. Wrong, your keystore gives you access to spending the bitcoin via the blockchain.

    • Couldn't duplicating your wallet, duplicate your bitcoins. Wrong, duplicating a keystore just gives you a copy of the current keys.

    • Backing up a wallet file is for your current bitcoins only. Wrong, backing up your keystore (if its deterministic like 99% of keystores) allows you to backup future funds too.

    • Someone stealing your wallet, only gives them access to your current wallet funds. Wrong, access to the keystore also gives them access to future funds too that you deposit to it.

    It would greatly benefit newcomers who should start thinking of there wallet as a bunch of keys, rather than a "mysterious" wallet, and need to unlearn there misconceptions.

    For one, Samsung blockchain keystore is the only one at the moment that refers to it this way that I can think of. But at least bitcoin core should create keystore.dat rather than wallet.dat by default, and then read either of these files for backwards compatibility.

    We already refer to wallets sometimes as "seeds or private keys" but we could do better by all together dropping the word wallet for keystore. That do you guys think?

    submitted by /u/brando2131
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    Hardware wallets don't store bitcoin - they store keys

    Posted: 17 Jul 2020 06:45 AM PDT

    Bitcoin is Speech protected by First Amendment

    Posted: 17 Jul 2020 05:16 PM PDT

    So surprised to see Bitcoin on Channel News Asia!

    Posted: 17 Jul 2020 07:15 PM PDT

    Old man yells at Bitcoin

    Posted: 17 Jul 2020 12:43 PM PDT

    This guy again...

    Posted: 17 Jul 2020 08:01 PM PDT

    Peter Schiff being ignorant as usual..

    "Bitcoin isn't money because people don't accept bitcoin they accept bitpay and bitpay gives them dollars.."

    "Gold is money you can even spend your gold with a gold backed debit card making it usable in the modern world.."

    Do you see the double standard here. Same argument but different biased conclusion.

    If its bitcoin then using a debit card or bitpay is a flaw, but if its gold then using a debit card makes gold better than bitcoin.. really peter?!

    This guy is either really REALLY dumb or he is trying to scare people away from bitcoin just long enough so he can finally make money on his gold after it has gone absolutely nowhere since 2011.

    submitted by /u/slvbtc
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    What an attractive Bitcoin ATM! (Estonia, Tartu)

    Posted: 18 Jul 2020 04:29 AM PDT

    My dad asked me a question, I didn't know how to answer, could someone help me?

    Posted: 17 Jul 2020 11:10 PM PDT

    Let's say bitcoin becomes the standard currency somewhere, what happens if such place lose it's ability to connect to the internet (major disasters, government shutdown, attacks on infrastructure, etc)? Could it still be used internally? If so, what would happen once connection is reestablished?

    submitted by /u/educofu
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    Twitter hackers manipulated staff to access internal systems

    Posted: 18 Jul 2020 01:54 AM PDT

    Money printing in France

    Posted: 17 Jul 2020 04:23 PM PDT

    The first Mt. Gox Bitcoin trade was ten years ago today

    Posted: 17 Jul 2020 07:11 AM PDT

    Bitcoin Is Worse Is Better

    Posted: 17 Jul 2020 03:46 PM PDT

    Flagged deposit to escrow

    Posted: 17 Jul 2020 11:11 PM PDT

    I transferred money from my Blockchain wallet to an escrow and I am being told that it is "Flagged" after it took a day to confirm (after I didn't check the fees before sending). I was told that it was flagged because I used a p2p service like local BTC , double spended or like I said before paid low fees. I must admit I used a tx accelerator service to try and hasten confirmation after 23hours of being unconfirmed. I did a bunch of other transactions with the said wallet.

    Can someone explain why it was flagged and if any of the above are the reasons it was flagged? I have been aware of unconfirmed transactions and cancelled ones but this is a first!!!

    submitted by /u/Omar-H-Alessa
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    Has anyone thought about making a Bitcoin wallet for the blind?

    Posted: 17 Jul 2020 12:29 PM PDT

    Is it legal to use somebody else's coinbase account?

    Posted: 17 Jul 2020 10:04 PM PDT

    Is it legal to sell bitcoins on a friends coinbase account and have them give you the money? I get that it will make taxes a bit weird as technically its gifting X amount of money then gifting it back. But does coinbase or the irs care if you do this? Are there any ramifications at all?

    submitted by /u/K00lA1dsMan
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