• Breaking News

    Sunday, August 9, 2020

    Home Unlabelled Bitcoin Daily Discussion, August 09, 2020

    Bitcoin Daily Discussion, August 09, 2020

    August 09, 2020

    Bitcoin Daily Discussion, August 09, 2020

    Daily Discussion, August 09, 2020

    Posted: 09 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.

    submitted by /u/rBitcoinMod
    [link] [comments]

    life of a bull

    Posted: 08 Aug 2020 03:05 PM PDT

    Ran into this fella at the mall. Ended up talking to him for close to an hour about Bitcoin. At the end, he pulled out a stack of paper wallets, gave me one and told me to pay it forward. It was .01 BTC! Thank you kind stranger.

    Posted: 08 Aug 2020 05:32 PM PDT

    Video of Sending ��,������,������ �������� ($������) instantly across �� ������������������ Lightning wallets - Danny Scott on Twitter

    Posted: 09 Aug 2020 12:23 AM PDT

    Should “I have X BTC” posts be banned?

    Posted: 08 Aug 2020 07:01 AM PDT

    Lately, in particular, there's been a lot of posts along the lines of people celebrating their first BTC purchase or getting to some milestone like 1 BTC. While I share in their happiness I'm concerned that this is making (often relatively new and naive) BTC owners targets for scammers and unnecessarily increases their risk of being scammed of their BTC.

    Should this community ban these sorts of posts for those guys' own good, or should it allow them to make their own mistakes and those of us concerned about them can carry on making warning comments?

    Update:

    Ok I was planning to leave this run for at least 24 hours before updating but I've got so many replies already by that time I won't have a hope of summarising them all. So here goes.

    First, to all those a little overzealous in their "you authoritarian bastard" responses - as my comments below elaborate, I don't actually think banning is the right solution but was being a little provocative to get the discussion(s) going. For the record.

    I haven't done a thorough count of all the yes/no answers but I'd say there's roughly a 50/50 split. Perhaps a few more yes than no, but the no's tend to be more upvoted.

    The most common reasons for the yes answers are primarily:

    • it's really annoying / useless posts etc
    • it makes them a target when they don't know any better and this would protect them

    The most common reasons for the no answers are:

    • it's authoritarian / against the whole ethos of BTC
    • we need to educate these people not ban their posts

    I think, realistically, the best suggestion was made by u/Ragnarokiee, so I will put this up as my (their) real proposal:

    Can the community mods please consider an auto mod comment to all of these types of posts with a little warning about the potential risks of making these sorts of posts.

    submitted by /u/Mooks79
    [link] [comments]

    Frankie MacDonald: My Advice About the Bitcoin

    Posted: 08 Aug 2020 10:56 AM PDT

    Fiat Market Cap - Bitcoin Maximalist Perspective :)

    Posted: 08 Aug 2020 11:09 PM PDT

    Thank you Satoshi

    Posted: 08 Aug 2020 03:37 PM PDT

    Sometimes it is easy to get lost in the gains we've been making, but lets not forget to thank satoshi. Imagine a world were we had no Bitcoin, how would we have ever been enable to fight the feds actions? The people have a tool to fight back now, this is something we've never had in history. Its time to kill the greed from the people in power.

    submitted by /u/thomascr9695
    [link] [comments]

    Is Bitcoin actually being used as a currency?

    Posted: 08 Aug 2020 10:20 PM PDT

    Hey guys. Please excuse my ignorance, I am just genuinely curious about this. I am by no means a bitcoin expert or enthusiast, so I thought I would ask the question here because I'm just confused on the topic.

    More and more I see people talking about Bitcoin as an investment and not a currency. Majority of the time, when I hear that one of my friends bought a bitcoin, they're not looking to spend it. They want to make money off of it somehow by waiting for its value to go up.

    What i'm confused about is that if no one is actually using Bitcoin as a currency, what's the point of it? I've never seen a person in store accept Bitcoin. Majority of the websites I visit don't even accept Bitcoin. The only time I hear Bitcoin being used is to buy some drugs lol. So really, what's the point if no one is really accepting it? Are there places accepting it and I'm just blind?

    Sorry again for the ignorance!! I am just trying to learn :)

    submitted by /u/itsfaraaz
    [link] [comments]

    Spark Lightning Wallet v0.2.15 is released. Lightning only. For technically oriented. Has android, win, macos applications - Nadav Ivgi on Twitter

    Posted: 09 Aug 2020 12:43 AM PDT

    Building Bitcoin from Source on a new Raspberry Pi

    Posted: 08 Aug 2020 09:22 PM PDT

    Securely generate 24-word Mnemonic using Dice

    Posted: 08 Aug 2020 08:17 PM PDT

    Disclaimer: This is for education purposes only. This is quite advanced for the average user. If you are to going to protect funds with a mnemonic generated using this method, use only a verified copy of tails and do all processes in a completely secure offline environment.

    Let me begin by saying there is nothing to suggest that the RNG used in popular software/hardware wallets is flawed. The generation process uses TRNG's certified from 3rd parties which should satisfy the large majority of users. However, if you are the type that trusts no one and you want to verify your BIP39 Mnemonic is truly random or you just want to find out how it works, then you must generate it yourself.

    The process itself is straightforward, The BIP39 dictionary contains 2048 words, each of these words represents 11 binary bits (0 or 1). A 24-word Mnemonic consists of 23 Words (253 bits) and Checksum (3+8 bits). To create our own mnemonic we start by generating 256 bits of random binary (23 words + 3 bits of the Checksum) then calculating the rest of the checksum. There is many ways to randomly generate the binary, but specifically for this tutorial we use six-sided dice. (If you have another means of generating the 256-bits, such as coin flips, then jump straight to step 10)

    The entire process will be done only using tools built-in to tails. All base converisons will be done in the linux terminal using the 'bc' or Basic Calculator command. Calculating the checksum will use python standard library.

    Tools needed:

    • Set of Casino Grade Six-Sided Dice
    • BIP39 Wordlist (MUST BE NUMBERED 0-2047)
    • USB stick w/Tails Linux Distro

    Create BIP39 Mnemonic with Dice

    • Step 1 - Download Tails onto a USB stick** Follow instructions on the tails website. You can validate tails using the extension or manually. Boot from the live USB, be sure to turn network connection to "offline" before starting tails. (click the + sign and it is one of the few options) IMAGE

    • Step 2 - Open the built-in text editor**: IMAGE

    • Step 3 - Roll your 99 dice rolls recording each roll in the text editor with no spaces between the numbers.IMAGE

    • Step 4 - You can check the number of rolls input by going to document statistics. Click the 3 bars to the right of the "Save" button. It will be under "Tools". Make sure there is no additional spaces. IMAGE

    • Step 5 - Convert the dicerolls into base6. To do this simply turn all the 6's into 0's. You can use "Find and Replace" function of the text editor to achieve this. IMAGE IMAGE

    • Step 6 - Open the terminal IMAGE

    • Step 7 - Convert the base6 string into binary. We use "bc" or basic calculator which is a built-in command line function. We are converting into base2 from base6. (replace [diceRolls] with your 99-digit base6 string) IMAGE

      echo "obase=2;ibase=6;[diceRolls]" | bc

    • Step 8 - Paste the binary output into a new tab in the text editor. (to copy/paste in the terminal you need to hold ctrl+shift c to copy or ctrl+shift v to paste) IMAGE

    • Step 9 - Remove the backslashes and extra spaces from the binary string. It should be a solid string of 0's and 1's with no extra spaces at the end. IMAGE

    • Step 10: - Check the length of the binary string using document statistics. In order to calculate a checksum the binary string must be exactly 256 characters. If the resulting binary is less then 256 characters, then add zeroes to the start of the string until it is 256 characters. This is called padding. IMAGE IMAGE

    • Step 11: - Convert the 256-bit binary into a hex value using the terminal. (replace [binary] with your 256-bit binary) IMAGE

      echo "obase=16;ibase=2;[binary]" | bc

    • Step 12: - To generate the checksum we need to write a small python program using the python standard library. Open a new tab in the text editor and save it as "checksum.py" in the Documents folder. Once it is saved copy the below text to the file or copy it directly from the screenshot. Replace the Pink "hex_val" with your own hex value and save the file. IMAGE

      import hashlib import binascii hex_val = "" # <-- Enter your hex value here bin_data = binascii.a2b_hex(hex_val) sha256hash = hashlib.sha256(bin_data).hexdigest() print(sha256hash)

    • Step 13: -Change directory to Documents using the command cd Documents then run checksum.py by using the command python3 checksum.py. The output will be a long hex value. The first 2 characters will be the checksum. IMAGE

    • Step 14: - Convert the 2 hex characters into binary using the terminal. The hex input for bc MUST BE capitalized or the result will be 0. In the above example the first 2 characters from checksum.py are 9c. So we use 9C as the input for base conversion. echo "obase=2;ibase=16;[hex]" | bc (replace [hex] with the first 2 characters given back from checksum.py. Make sure to capitalize any letters). If the result is less then 8 bits, add zeroes to the start. Example: 2C would equal "101100" in binary which is only 6-bits. In this case add 2 zeroes to the start to make "00101100", IMAGE

    • Step 15: - Add the 8-bits of binary from the previous step to the existing binary string from step 10. Check to make sure the resulting binary is exactly 264 characters using document statistics. IMAGE

    • Step 16 - Split the 264-bit binary into equal 11-bit chunks. There should be exactly 24 groups of 11 bits. IMAGE

    • Step 17 - Convert each group of binary into a decimal number using the terminal. Record each number next to the corresponding binary. Do this for all 24 binary strings. (press the up arrow to access previous commands) IMAGE

    • Step 18 - Look up the numbers in the BIP39 wordlist. Make sure the wordlist in zero-indexed meaning it begins with 0 and ends with 2047. This is your 24-word seed which can be used with any BIP39 compatible wallet. Take care to properly wipe the USB device after use. IMAGE

    Picture Album - https://imgur.com/a/sXTHr6c

    submitted by /u/Mcgillby
    [link] [comments]

    Number of Bitcoin active addresses reached over 1 million

    Posted: 08 Aug 2020 04:33 PM PDT

    Recently saw this news on few websites. I am just wondering, How do they calculate this?

    submitted by /u/start100000
    [link] [comments]

    The quest to liberate $300,000 of bitcoin from an old ZIP file

    Posted: 08 Aug 2020 09:00 AM PDT

    How to buy Bitcoin anonymously - 11 places to buy BTC without an ID

    Posted: 08 Aug 2020 11:58 PM PDT

    What did you do during the coronavirus?

    Posted: 09 Aug 2020 03:21 AM PDT

    Nigeria Becomes Fastest Growing Crypto Market In The World

    Posted: 08 Aug 2020 09:35 AM PDT

    Hiding a seed in a discreet way while traveling?

    Posted: 08 Aug 2020 11:19 PM PDT

    I'm abroad. Ordered a cold card (already have Nano and Trezor) but since I'm abroad, I have the seed on me. Now I know it's not the best idea to any significant funds on the cold card with the seed on me while traveling, so I'll keep it to a minimum just so I can have fun learning the wallet.

    Anyways, currently it's just on a piece of paper that came with it and am looking for other ways to transfer that to something more discreet/encrypted. Any ideas?

    submitted by /u/tjeepdrv
    [link] [comments]

    20 Institutional Bitcoin Investors Revealed, But Soon The List May Vanish

    Posted: 09 Aug 2020 02:18 AM PDT

    The $12K Zone Is Now the Key to Bitcoin’s Price Evolution in the Coming Weeks

    Posted: 09 Aug 2020 02:18 AM PDT

    How Demographic Trends Are Setting Bitcoin Up For Success

    Posted: 09 Aug 2020 12:36 AM PDT

    17 bitcoin ATM’s from the “shitcoin club” has been seized

    Posted: 08 Aug 2020 09:54 PM PDT

    Did you toke the pill ��?

    Posted: 08 Aug 2020 12:36 PM PDT

    $68 trillion transfer of wealth may benefit Bitcoin (BTC) & $1 Billion dollars in Bitcoin moved..hmm

    Posted: 08 Aug 2020 10:18 PM PDT

    Fiat Currencies (1971-2030) RIP

    Posted: 08 Aug 2020 10:53 AM PDT

    While many currencies have gone off the gold standard for a short time, we are living in a unique time where the entire world is now using fiat currencies and has been for many decades. Before 1971, the US was on the gold standard and many countries pegged the value of their currency to the US dollar. On the day that the US went off the gold standard, every country that was pegged to the dollar also went off. While simplistic, it's partially correct to say that the entire world switched to being fiat currencies on August 15th, 1971.

    It's now clear to some that we are nearing the closing chapters of that story. The date is unknown, but there seems to be a feeling of inevitability. The words "full faith and credit" are starting to feel like irony.

    I don't know about you, but I see my grocery bill going up every weekend. While I am fortunate to be making a wage at all, I can see that the wage I am making is buying less all the time. I know this contradicts what the government tells me. They tell me other things. They tell me things that don't match what I see and experience. The news people show me things that look bad and tell me they are good. I used to trust the news anchor that told me the news every night on TV. These contradictions bring me a level of discomfort that is like a splinter in my mind. As a good citizen, I want to believe my government, but I also see the Safeway, Walmart, and Target receipts every week as well. They are going up. I see the receipt total, purse my lips, shake my head, and sigh. Today, I am going to JCPenney because my work clothes have holes in them and are frayed. We'll see how that goes. I ate more Mac and Cheese this year too and it always makes me feel terrible, physically. I'm not young anymore. I wonder if it is hurting me. I don't quite understand why I am eating it. I just realized we are now eating it weekly as a family. It just seemed to happen.

    I abide by the laws of the land. I always wear my mask because they tell me to. I always pay my taxes and obey the speed limit. I, like many people, use dollars because I am forced to. It's what we all use. They are used everywhere and for every thing. However, as soon as a better option comes along, I'm going to take it. Regardless of what all the economists say about deflationary death spirals, as a user of a money, I will always opt for the money that either holds, or grows in value, if given the choice.

    Choice, that is an interesting world. I often worry how long I can make my own choices in a country making other choices that are getting more and more worrisome all the time. I think it's very far fetched, but does there exist a possible future where my family walks across the southern border with only the clothes on our back and a memorized 12 word seed phrase? I have heard this scenario more than once and it scares me. I don't have much money and can't speak the language.

    Gosh, I hope not. This is my home. I don't want to leave it.

    submitted by /u/freebit
    [link] [comments]
    Read more
    at

    No comments:

    Post a Comment