Bitcoin Daily Discussion, August 01, 2020 |
- Daily Discussion, August 01, 2020
- Bitcoin Newcomers FAQ - Please read!
- Anyone awake to see this? Currently at a 10 month high
- Tampa teen accused of being ‘mastermind’ behind Twitter hack Now forced to HODL for 20 years! Hats off to this new future millionaire! LOL.
- If you lost money on Bitcoin you either bought in the red or you didn't hodl.
- Your FBI agent seeing you searching the bitcoin's value every fifteen minutes
- Bitcoin FOMO Is Back
- Hacked! Keep your Bitcoin OFF exchanges!
- 15th August 2020 Flyer - Are we going to be up on the year or not?
- Bitcoin's highest monthly candle close in 2.5 years!
- Bitcoin breaks $11,500 as sentiment metrics show it’s still undervalued
- I have burning fomo right now. Help
- Happy Bitcoin independence day.
- Reminder to all HODLERS
- How to run Bitcoin Core 0.20.0 on Ubuntu Server 20.04 LTS using a Raspberry Pi 4 (or Virtual Machine)
- What a week...
- Lightning network adoption on the rise
- Be aware they’re messaging through reddit now
- Bloomberg : Americans trade depreciating USD for Bitcoin
- My God, wiring money is such a royal pain in the ass
- I doubted Lightning and was proven wrong!
- Am I the only one who’s seeing this bitcoin hit 11,727 high let’s go
- Bitcoin is by far the most interesting and important experiment ever. Thanks satoshi(s)
- How This Billionaire-Backed Crypto Startup Gets Paid To Not Mine Bitcoin
- Inflation is real! -7-Eleven, 1973 "that'll be 26 cents"
- friendly reminder
Daily Discussion, August 01, 2020 Posted: 01 Aug 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. [link] [comments] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bitcoin Newcomers FAQ - Please read! Posted: 31 Jul 2020 08:50 AM PDT Welcome to the /r/Bitcoin Sticky FAQYou've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments. It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Some other great resources include Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series. Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute. Some Bitcoin statistics can be found here and here. Developer resources can be found here. Peer-reviewed research papers can be found here. Potential upcoming protocol improvements and scaling resources here and here. The number of times Bitcoin was declared dead by the media can be found here (LOL!) Key properties of bitcoin
Where can I buy bitcoins?Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases. Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage. Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)". Securing your bitcoinsWith bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email! 2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Watch out for scamsAs mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins". Where can I spend bitcoins?Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk. There are also lots of charities which accept bitcoin donations. Merchant ResourcesThere are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;
Can I mine bitcoin?Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /r/BitcoinMining would be happy to help you out. If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. If you would prefer to keep it simple there are several good options. You can view the global node distribution here. Earning bitcoinsJust like any other form of money, you can also earn bitcoins by being paid to do a job.
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins) Bitcoin-Related ProjectsThe following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Bitcoin UnitsOne Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki. Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /r/Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval. Welcome to the Bitcoin community and the new decentralized economy! [link] [comments] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Anyone awake to see this? Currently at a 10 month high Posted: 31 Jul 2020 10:48 PM PDT
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Posted: 31 Jul 2020 12:31 PM PDT
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If you lost money on Bitcoin you either bought in the red or you didn't hodl. Posted: 01 Aug 2020 02:27 AM PDT
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Your FBI agent seeing you searching the bitcoin's value every fifteen minutes Posted: 31 Jul 2020 11:54 PM PDT
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Posted: 31 Jul 2020 11:19 PM PDT
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Hacked! Keep your Bitcoin OFF exchanges! Posted: 31 Jul 2020 06:16 PM PDT I have had Bitcoin on coinbase for years! A couple of months ago I decided to get a ledger, and it seems I did so just in time! Yesterday my phone service stopped working (said the sim was not provisioned). At first I didn't think much of it. I have connection problems often, anyway. Today I woke up and it was still not working. I also couldn't access my email. I contacted my phone provider and apparently someone went into a store and told them they needed a new SIM. They switched my SIM off when the new one was activated. They used it to access my email using the 2fa account recovery. They logged into coinbase, which was luckily empty. They tried to use my linked credit card and Bank account to purchase $25,000 worth of Bitcoin through coinbase, but luckily it was rejected. I also luckily have different passwords for everything I do online. It seems like 2fa actually made my account more susceptible to attack in this case. As far as I can tell no other accounts were compromised, but I'm changing everything anyway, just in case. Be safe! Keep your coins in your own wallet and far away from the exchange! [link] [comments] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
15th August 2020 Flyer - Are we going to be up on the year or not? Posted: 31 Jul 2020 09:22 PM PDT
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Bitcoin's highest monthly candle close in 2.5 years! Posted: 31 Jul 2020 10:11 PM PDT
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Bitcoin breaks $11,500 as sentiment metrics show it’s still undervalued Posted: 31 Jul 2020 11:53 PM PDT
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I have burning fomo right now. Help Posted: 31 Jul 2020 10:46 PM PDT Ive been dollar cost averaging since the beginning of the year. $500 a month. But now fomo is hitting me hard and im having irrational thoughts of going overbudget this month by several thousand. How do you cope with fomo? [link] [comments] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Happy Bitcoin independence day. Posted: 01 Aug 2020 03:47 AM PDT
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Posted: 01 Aug 2020 01:27 AM PDT
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Posted: 31 Jul 2020 11:45 PM PDT I was helping someone on twitter with this so I figured I'd share the information here as well so that other people would have an easier time than I did. I'm going to explain how to do this setup on a Raspberry Pi, but note that this should work on a VM as well. You can also set up and run the node headless this way, but I will be explaining how to set up the node using a monitor that you can then later disconnect and access remotely once everything is setup. Hardware: -Raspberry Pi 4 (2GB RAM minimum) preferably 4GB RAM Node Requirements: Okay, once you have the hardware its time to get started! The first thing you'll need to do is install the Raspberry Pi imager, this is how we're going to install Ubuntu onto our Raspberry Pi. After your download and install finishes, open the imager.
When it is done, remove the SD card and reinsert it to access the files installed. You can choose the overclock the Raspberry Pi by editing the config file. To connect to the Raspberry Pi remotely, you'll need to create an SSH file. If you're on windows this is pretty easy. In the File Explorer, highlight the address bar at the top, erase the text and type cmd, press enter and the Command Prompt will pop up. Type the following:
This will create an SSH file in your SD directory so that you can remote access the Rasberry Pi later. Now you can go ahead and eject the SD card from your computer. Now we can set up the Raspberry Pi Go ahead and connect all your peripherals to your Raspberry Pi, insert the microSD, and connect it to power to turn it on. Give it a moment to boot up, then when prompted enter "ubuntu" for the password. It will make you change the password. Afterward, it will print a bunch of information to the screen, write down the IPv4 address, this is the IP address you'll use to remote access the Raspberry Pi. Now, at any time you can remote access your Raspberry Pi by entering a terminal on another PC in your network and typing:
The next step is to install a desktop. There are plenty to choose from so feel free to use a different one than what I use, you can also choose to ignore this and to just work from in the terminal from this point forward. You need to update all the repositories so type: (Note you'll either have to be connected by ethernet or have edited the network-config file to setup your wifi in advance)
Once it's done updating type the following to upgrade your system:
Now that you're up-to-date, you can install the desktop using the command:
This will take a while to download and install so just sit back and let it do its thing. Once it's done downloading, restart your Raspberry Pi and log in with the password you changed earlier. Your first boot may take a while so just be patient, don't freak out if you see a single purple square in the center of the screen while it's loading. You should now have the Ubuntu desktop ready to go and now it's on to installing Bitcoin Core! Installing Bitcoin Core 0.20.0 Since we're running Ubuntu Server 20.04 LTS, it should come preinstalled with the Snap Store. This makes installing apps very easy and works similar to pip install in Python. Simply open your terminal and type:
This will install Bitcoin Core into your Snap folder and will add the application to your system. Unfortunately, there are still a few steps left before we can begin downloading the blockchain. By default, Bitcoin Core doesn't have the removable-media Plug connected to the Socket. You can view this by typing:
This means when you try installing everything onto your external hard drive, Bitcoin Core won't be able to identify it or write to it even when passed the directory path. To fix this first locate your Snap folder, make a copy of the bitcoin-core folder inside, and paste it into your external drive. NOTE: You must make a copy, you can't just move the snap file to the external drive. Now, you can connect the removable-media Plug to the Socket by typing:
This gives you the read/write permissions necessary to access the /media path. Finally, you can now launch Bitcoin Core and select "use a custom directory path" when prompted. Highlight the current directory path and replace it with the path to your external hard drive, it should look something like this:
This is why we had to make a copy of the bitcoin-core folder to the external drive earlier, the Bitcoin Core application will create the new data directory through ".bitcoin".Hit "Okay" and the application will begin synchronizing with the network! Once the synchronization is finished your very own node will be up and running! [link] [comments] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Posted: 01 Aug 2020 03:14 AM PDT
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Lightning network adoption on the rise Posted: 31 Jul 2020 02:48 PM PDT
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Be aware they’re messaging through reddit now Posted: 31 Jul 2020 03:00 PM PDT
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Bloomberg : Americans trade depreciating USD for Bitcoin Posted: 01 Aug 2020 12:19 AM PDT
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My God, wiring money is such a royal pain in the ass Posted: 31 Jul 2020 11:27 AM PDT Oh, I can't initiate the wire txfer online because I have these stupid daily limits. Oh, I have to do it before 2pm because otherwise it won't "clear" until EOD Monday next week. Oh, I have to make an appointment because walk-ins are closed due to COVID19. Oh, there's no more appointments left today. It's so infuriating. The whole banking industry has it it's head so far up it's ass when it comes to simple things like "transferring money" ... the crypto disruption can't come soon enough! /rant [link] [comments] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
I doubted Lightning and was proven wrong! Posted: 31 Jul 2020 01:32 PM PDT I admit it. I was wrong. I do think there should be just simple guides for a few Lightning wallets maybe some simple video tutorials linked here showing how to receive--that was a big hurdle. I'm just your below average Joe. Anyhow, here is the link that shows my frustration and then the success. https://www.reddit.com/r/Bitcoin/comments/i1cr8v/how_do_i_send_my_lntips_to_someonethey_are/ Folks, people truly don't think this works and it's too complicated. It was a little but that's just because there is no simple guide. I would NEVER associate creating an invoice with receiving money if I wasn't told a few times. Someone needs to sit down with morons and see what we struggle with to get this going good imo. You have to create an invoice it looks like to receive so why even have the button to create invoice? Just click on receive and a wizard asks you how much you want to receive then tells you to copy and paste the receiving number or something like that. Invoice threw me off big time. [link] [comments] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Am I the only one who’s seeing this bitcoin hit 11,727 high let’s go Posted: 01 Aug 2020 01:31 AM PDT | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bitcoin is by far the most interesting and important experiment ever. Thanks satoshi(s) Posted: 31 Jul 2020 09:40 PM PDT When you view how far we've come its obvious it's only started. [link] [comments] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
How This Billionaire-Backed Crypto Startup Gets Paid To Not Mine Bitcoin Posted: 01 Aug 2020 02:15 AM PDT
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Inflation is real! -7-Eleven, 1973 "that'll be 26 cents" Posted: 31 Jul 2020 08:21 AM PDT
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Posted: 31 Jul 2020 07:31 AM PDT
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