Bitcoin Daily Discussion, August 04, 2020 |
- Daily Discussion, August 04, 2020
- During this next hype cycle, it's important for Bitcoiners to be kind when explaining Bitcoin to newcomers. Bitcoin can't achieve its potential if no-coiners disdain Bitcoiners...
- Friendly reminder: Don't buy bitcoin
- While doing my-own-node project, I understood why blocksize should never be increased.
- Pro-BitCoin Documentary Worth Watching (34 mins)
- WARNING!!! SCAM CASINO BitStarz.com
- You can't be "out of the market" anymore, because the future value of the US dollar is now highly speculative.
- Bitcoin after every dip
- $4 billion Mt.Gox Bitcoin Launderer to face trial in France
- ‘Bitcoin ain’t going away. It's gonna get stronger,’ says US Congressman
- Has it really been 3 years?
- This is Why Bitcoin: Homeland Security Seized $2 Billion in Cash at Airports in 16 Years
- Yay! Just got a notice that BitDials (featured by Bitpay on their directory) has ditched Bitpay.
- 1B USD moved for about 80cents
- Just got some custom dye jobs done on some disc golf discs, representing BTC!
- I'm an idiot, I thought I was being slick
- Grayscale premium up 3x in the last 3 months... indicating future buy orders of $4 Bil annually.
- Swiss Bank to provide Bitcoin Trading and Custodial Services
- Swiss Bank "Basler Kantonalbank" to Offer Bitcoin Investments! - Crypto Pencil
- $68,000,000,000,000 Transfer of Wealth May Benefit Bitcoin (BTC), According to Asset Management Giant Fidelity
- Has the Bitcoin Bull Woken? With Anthony Pompliano — What Bitcoin Did
- Newb to bitcoin. Is it better to wait for graph to fluctuate until it hits a low that I tho is worth it to buy or should I just buy and have funds in it already? Sorry if this is stupid question, my fifth grade teacher says theirs no such thing as a stupid question so think I’m ok. Thanks pals.
- Just bought this bad boy installed @ Palmers inn Restaurant 28660 Harper Ave, St Clair Shores, MI 48081 invest in the Future of Money. A lot of People do not trust exchanges
- So I'm about to drop my 401k into Bitcoin. Talk me out of it.
- Is there any bitcoin atm which I could sell my bitcoin without an I.D?
| Daily Discussion, August 04, 2020 Posted: 04 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]  | ||
| Posted: 03 Aug 2020 06:23 PM PDT | ||
| Friendly reminder: Don't buy bitcoin Posted: 03 Aug 2020 10:23 AM PDT
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| While doing my-own-node project, I understood why blocksize should never be increased. Posted: 03 Aug 2020 11:29 PM PDT Took me 2 weeks to download the chain, then something went wrong and I had to do it all over again. It literally took me a month to fully download the chain. Now I'm waiting for it to sync (currently at 2%) I think it's safe to say that this is at least a couple more weeks. I can't imagine how things would have been if Blocksize was 32mb? This would literally abolish alot of people who want to run their own nodes. Throwing quick fixes at a problem was not never a solution. anyways, joining the party soon. [link] [comments]  | ||
| Pro-BitCoin Documentary Worth Watching (34 mins) Posted: 03 Aug 2020 08:00 PM PDT
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| WARNING!!! SCAM CASINO BitStarz.com Posted: 04 Aug 2020 01:03 AM PDT
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| Posted: 03 Aug 2020 07:36 PM PDT Gotta place bets. We're all professional investors whether we like it or not. Bitcoin is the best risk-adjusted, widely available investment on the planet. That's my thesis for loading up whenever and however I can. [link] [comments]  | ||
| Posted: 03 Aug 2020 08:47 AM PDT
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| $4 billion Mt.Gox Bitcoin Launderer to face trial in France Posted: 04 Aug 2020 12:26 AM PDT
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| ‘Bitcoin ain’t going away. It's gonna get stronger,’ says US Congressman Posted: 04 Aug 2020 03:05 AM PDT | ||
| Posted: 03 Aug 2020 08:26 AM PDT
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| This is Why Bitcoin: Homeland Security Seized $2 Billion in Cash at Airports in 16 Years Posted: 03 Aug 2020 10:18 AM PDT
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| Yay! Just got a notice that BitDials (featured by Bitpay on their directory) has ditched Bitpay. Posted: 04 Aug 2020 02:53 AM PDT | ||
| 1B USD moved for about 80cents Posted: 03 Aug 2020 10:42 AM PDT
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| Just got some custom dye jobs done on some disc golf discs, representing BTC! Posted: 03 Aug 2020 05:50 PM PDT
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| I'm an idiot, I thought I was being slick Posted: 03 Aug 2020 09:38 AM PDT So I have been hodling for years now. Always keeping an eye on the price but never wavering. The other day I see price has risen to over 12k and go to sleep contemplating if I can time this right, I can dump and buy when it drops as it always seems to do. I wake up and its just over 11k. I sell all I have and figure, I rebuy when it falls a couple grand as it usually does after a big climb. So it doesn't fall, it goes back up again. Now I'm sitting here watching it hold pretty steady and I am hoping it falls enough I can buy it all back with a modest profit giving me more coin than I had previously. Watch it for 2 days and it just won't fall below what I sold for. Decided I was an idiot for not just leaving it all there originally as I have always done before and just bought everything back but lost a little in the process. In the big picture, it was a minor loss but I realized as much as I've watched it over the years, I still have no idea what it is going to do next. A relatively cheap lesson, but I learned I can in no way predict what is going to happen accurately. Moral of the story is just HODL. Edit: look guys and gals. I know I made a stupid mistake. I know I will suffer a tax penalty due to this lapse in judgement. I appreciate all the responses even the ones mocking me. I can laugh at my stupidity in this instance. I only shared because I thought if it helps anyone else who was considering making a move like this, that they realize it is not a smart thing to do. I'll bounce back and keep buying and keep HODLING. Thankfully this isnt a situation that will do any serious damage to me finacially. Hell I just dropped 4k in vegas last weekend. I'm a gambler by nature. Life moves on and im still standing. [link] [comments]  | ||
| Grayscale premium up 3x in the last 3 months... indicating future buy orders of $4 Bil annually. Posted: 03 Aug 2020 10:44 AM PDT For those that don't know, Grayscale is one of the biggest continual buyers of Bitcoin, currently buying out 100% of mining rewards annually (325,000 Bitcoin), to be locked into a permanent vault - roughly $4 Bil. They do this because they trade in tax-differed retirement accounts, using the symbol GBTC, at roughly a 1 to 1,000 value ($10,000 BTC = $10 GBTC, of Bitcoin value - note: the actual math is like $10,000 BTC = $9.5 GBTC of value). But typically GBTC trades well above this rate, around 30%. Today it's at about 20%, and a few months ago it was at 7%. This is easy for anyone to track. For GBTC 'investors' they buy Bitcoin at a price, say $10,000, and then sell it as GBTC for $13,000 (30% premium), after holding 1 year. This makes it a relatively low-risk arbitrage, unless the premium goes away and BTC price plummets. Once this Bitcoin is purchased and added to GBTC, it basically stays there forever, probably for the next 20 years. Their current Bitcoin asset valuation is about $4 Bil, and they are expected to add $4 Bil more this coming year, if investors keep pouring in. The best indicator of this is the premium. As the premium grows, the risk to new investors decreases, and currently it trades at $13.2 vs asset value of $11 = 20% premium. So it's something I watch for, and I suspect GBTC will buy $4 Bil of Bitcoin this year, alone with lots and lots of other crypto assets - which is about the entirety of this year's mining rewards (if the price stays near $10,000). For those that are curious why the premium exists at all, for US persons it's commonly a 25 to 40% tax to engage in short-term trading, if it's in an IRA then the tax is 0%. If you are an active Bitcoin investor, attempt to do all short-term trades in retirement accounts only using GBTC, and long-term holding positions in actual BTC. At least that's what I do. [link] [comments]  | ||
| Swiss Bank to provide Bitcoin Trading and Custodial Services Posted: 03 Aug 2020 09:36 AM PDT
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| Swiss Bank "Basler Kantonalbank" to Offer Bitcoin Investments! - Crypto Pencil Posted: 04 Aug 2020 04:12 AM PDT
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| Posted: 03 Aug 2020 10:18 AM PDT
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| Has the Bitcoin Bull Woken? With Anthony Pompliano — What Bitcoin Did Posted: 04 Aug 2020 04:38 AM PDT
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| Posted: 04 Aug 2020 12:37 AM PDT | ||
| Posted: 03 Aug 2020 05:33 AM PDT
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| So I'm about to drop my 401k into Bitcoin. Talk me out of it. Posted: 03 Aug 2020 09:40 AM PDT It's only 10k and CARES allows me to avoid a lot of fees, but honestly, I see more potential coming out of Crypto than sitting in a 401k. [link] [comments]  | ||
| Is there any bitcoin atm which I could sell my bitcoin without an I.D? Posted: 04 Aug 2020 03:27 AM PDT |
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