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    Bitcoin Daily Discussion, July 22, 2020

    July 22, 2020

    Bitcoin Daily Discussion, July 22, 2020

    Daily Discussion, July 22, 2020

    Posted: 22 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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    Recently I decided to change all my professional and personal plans. I left my job. I left my friends and family. I left my country. All for Bitcoin. Here is why.

    Posted: 21 Jul 2020 06:13 PM PDT

    Discovering my core values

    I was born and raised in an upper-middle income family in Mexico City under catholic values but turned agnostic as I grew older. I kept the values that made sense, such as the importance of charity and giving back, and threw away the ones that were outdated, such as the focus on guilt as a motivator of change.

    As a kid, I remember how conflicting it was to see other kids working in the streets, starving, drugged, and abused. I couldn't understand why they couldn't focus on their education the way I did. That planted a seed in my spirit that still grows.

    Seeing in economics hope

    As a teenager, I entered the rabbit hole of economics with hope. Economics seemed to be this mystical force capable of solving the world's biggest problems: poverty, corruption, global warming, and many more. I knew that the way we were doing economics was wrong and I wanted to change that.

    Just think about the horrible things that have been done under the name of communism, such as the Cambodian genocide, or how the United States, the crown jewel of capitalism, makes of fundamental rights, such as healthcare and education, profitable businesses instead of granting everyone equal access to them.

    While studying my undergrad, I quickly fell out of love with the idealistic idea of economics as an almighty force that can conquer all evils. I saw how economics was often used as an excuse to force simplistic representations of culture and society into complex problems. I never understood how that approach of thinking about problems in a vacuum could be useful.

    Understanding the power of financial services

    Later in my life, while working as a consultant for McKinsey, I finally understood the importance of financial institutions. They decide who should do business and have access to goods and services and who shouldn't. And financial institutions don't grant everyone that right. It was clear to me that that was a problem that needed fixing. That's why I devoted so much time studying this industry back then.

    I came to Berkeley to Business School more out of inertia than out of will. I was sponsored by McKinsey and had an offer to go back. I didn't know exactly what to do with the experience, but I knew I wanted to keep exploring financial services. During my MBA, I heard about Bitcoin in a serious academic environment for the first time and it immediately caught my interest.

    Via Berkeley-SkyDeck, a startup school, I heard about lastbit (lasbit.io) for the first time. I read everything I could about the project and about the founder, this cool, heavy-metal lover, who wanted to change the world with the disruptive power of Bitcoin. I could see myself in him. I had to meet him. After failing to meet him in person at an event, I just cold emailed him praying for him to answer. He did.

    That's how I came in contact with Prashanth for the first time, this impressive 25-year-old genius who managed to get Charlie Lee on board of his project with little more than a prototype. There's a reason why he managed to do this. Today Bitcoin is almost impossible to spend. With Prashanth's his solution, anyone will be able to swipe a card or tap their phone and pay with Bitcoin instantly anywhere where they are able to pay with their credit card today. Something not so long ago possible only in bitcoiners' dreams. Through Prashanth I finally understood what Bitcoin really is. It blew my mind.

    Unveiling the real meaning of Bitcoin

    Bitcoin is not an investment asset, it's the possibility of a new social contract. Bitcoin is a decentralized, transparent, and auditable network to store and transmit value to which everyone in the world can have access to. This presents a real opportunity to redefine money, which today is inherently centralized, first by central banks, and then by financial institutions. The centralization of money has at least three critical problems that Bitcoin solves.

    First, there is a macroeconomic problem that has to do with monetary policy and that today with the COVID-19 economic crisis is more relevant than ever. Money is supposed to be a reflection of real economic value, but some central banks print money arbitrarily. Bitcoin's monetary supply is limited by design. Second, centralized financial services are discriminatory and don't allow free access to everyone. Bitcoin is universal and free. This means that for the first time in human history, everyone will be able to participate in the global economy. And participation is the pillar of democracy. Third, central authorities control private information. The recent attacks to high profile account on Twitter illustrate how vulnerable private information is when stored in centralized networks. Bitcoin allows people to have full ownership and control of their personal and financial information, protecting both their identity and their wealth.

    As such, Bitcoin emerged in front of my eyes as a way to instrument basic democratic principles in a way in which everyone can have equal representation. Money as we know it will soon be a thing of the past because money as we know it not fair nor egalitarian and now people can choose.

    I had to quit McKinsey. I had to leave Mexico. I had to stay with lastbit. I had to give this project my all.

    submitted by /u/bm_bkly
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    Mr. Krabs' first dime was a rai stone from an island called Yap. THIS is quite literally the most obscure reference you missed as a kid

    Posted: 21 Jul 2020 01:40 PM PDT

    100x Group is delighted to announce that it has awarded a US$50,000 one-year grant to Bitcoin Core contributor and researcher Jeremy Rubin

    Posted: 22 Jul 2020 01:05 AM PDT

    Bitcoin protects Art by Yegor Petrov

    Posted: 22 Jul 2020 12:04 AM PDT

    PSA: Bitcoin only exists in the blockchain. If your "coins" are on an exchange, you don't own Bitcoin, you own a line in somebody else's spreadsheet.

    Posted: 21 Jul 2020 11:14 AM PDT

    Incase you're wondering why Bitcoin is moving up today: Euro printer go Brrrrr. - EU leaders strike 'historic' $2 trillion deal to rebuild Europe's economy

    Posted: 21 Jul 2020 10:30 AM PDT

    My bank just sent to all customers this notification. One of the biggest banks in Europe ! Always associating crypto to fraud..

    Posted: 22 Jul 2020 01:13 AM PDT

    "With the discovery of Bitcoin, absolute digital scarcity was discovered. The total amount of bitcoins that will ever exist is finite. To me, having grown up with the Commodore 64, the thought of this was as fascinating as the thought of a perpetual motion machine"

    Posted: 22 Jul 2020 04:34 AM PDT

    How can I know if a 0-conf TX sent to me is an RBF Tx? Which Android wallet or block explorer?

    Posted: 21 Jul 2020 05:21 PM PDT

    There’s a 0.1 BTC bounty to bring BlueWallet to f-droid

    Posted: 22 Jul 2020 04:20 AM PDT

    Did you know? A cow produces enough methane to mine 400 sats per day?

    Posted: 21 Jul 2020 06:37 PM PDT

    "Currently costs approx 5.6 megawatt-days to mine 1 BTC using most efficient chips. Convert to methane energy (assume 25% nat gas generator efficiency) = 51000 m3 methane. Cattle produce 0.2 m3 / d methane. Takes 255,000 cows to produce 1 BTC/day"

    So 1 bitcoin produced by 255,000 cows is 0.00000392 BTC (392 sats) per cow per day.

    This is assuming "25% nat gas generator efficiency", and that all methane is captured. So don't back your cow up to one of Upstream Data's machines and expect bitcoin to come flying out the other side.

    Also, when difficulty increases, the quantity of bitcoin mined by one cow will lessen.

    submitted by /u/cointastical
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    "Entities that control over 1000 Bitcoins are on the rise for the first time since 2016"

    Posted: 22 Jul 2020 01:55 AM PDT

    Its frustrating

    Posted: 22 Jul 2020 01:46 AM PDT

    So I been doing DCA simce last month and bank blocked my debit card for transaction and then I have to call them to unblock it and they said its fine in the future as I confirmed it was me . I understand its for security purpose but damn today I they blocked me from loggin in. I was like wtf and what surprises me 50 bucks or under how come it raises red flags for banks despite my permission and track record of biweekly payment

    submitted by /u/dontuthink
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    Russia Temporarily Drops Plans to Criminalize Bitcoin

    Posted: 21 Jul 2020 06:29 AM PDT

    China’s Supreme Court calls for better protection of digital currency rights

    Posted: 22 Jul 2020 02:29 AM PDT

    I'm selling face masks to finally get to 1 BTC!

    Posted: 21 Jul 2020 02:34 PM PDT

    I've been chugging along for a few weeks and I'm almost there! Plus I feel like I'm helping improve public health. Just wanted to share my excitement :)

    submitted by /u/iambobnelson
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    value for loaded 2013 Casascius 1 BTC

    Posted: 21 Jul 2020 05:07 PM PDT

    trying to determine market value for a loaded 1 btc casascius purchased for around $400. It's the silver version

    submitted by /u/NotAllCapesWearHero
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    At Least $1 Trillion Is Needed to Avert U.S. Disaster, Economists Say ... Translation: Postpone U.S. Disaster to Push Debt Onto The Younger Generations ... #BuyBitcoin

    Posted: 21 Jul 2020 01:27 PM PDT

    Kashif Raza: Twitter hack proves Bitcoin ban is impossible

    Posted: 22 Jul 2020 04:19 AM PDT

    Few Understand That Bitcoin Is Money, Not Just Another Technology

    Posted: 21 Jul 2020 01:05 PM PDT

    Windows Defender is blocking latest electrum relase, i checked GPG but its my first time using GPG, so can some double check for me?

    Posted: 21 Jul 2020 06:32 PM PDT

    im used this link https://download.electrum.org/4.0.2/electrum-4.0.2.exe

    ​

    ​

    windows - Standalone Executable from this site https://electrum.org/#download

    submitted by /u/atrueretard
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    Tinder Scam.

    Posted: 22 Jul 2020 03:35 AM PDT

    I was involved in a scam. I got a tinder code and gave it to the person I was talking to like a moron.

    They already make dating apps so maliciously i was like "oh a security feature to keep women safe and keep them using the app."

    Well they got my sign in code. I immediately realized I fucked up. Started changing the passwords for my bank and crypto accounts. While I was changing my passwords, I couldn't sign into my BTC Wallet which is through a major trading platform. I kept putting in my password and it had been changed. I never got an email that it had been changed. My wallet account and trading account were no longer connected. Which is good. Im guessing their security did that. When I went to the send money tab there was a different address there than I had never sent crypto to. Someone definitely got into my wallet and tried to send money. Luckily it didn't work. Now the platform customer support is doing some serious investigating.

    How was someone able to get into my Wallet after getting into my tinder account?

    That wallet is no longer safe since they were able to see my 12 word phrase and I will have to make a new one.

    submitted by /u/MyCatParts
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    The worlds dominant currency changes roughly every 100 years

    Posted: 21 Jul 2020 08:35 AM PDT

    The worlds dominant currency has changed about 5 times over the last 500 years, with the most recent one being USD from 1929 to present. What will the next global currency be? Should it be tied to another country once again to give them massive power over the world? HMMMM

    https://www.zerohedge.com/news/2014-08-14/world-reserve-currencies-what-happened-during-previous-periods-transition

    submitted by /u/amygdalad
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    Bitcoin USD different than BTC EUR

    Posted: 22 Jul 2020 03:04 AM PDT

    So i do not like that bitcoin is behaving diferently on USD chart. in EUR chart is is clearly going down again but on USD chart it is going the opposite way... I do not like

    submitted by /u/DarthAnnicus
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