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    Bitcoin Daily Discussion, August 10, 2020

    August 10, 2020

    Bitcoin Daily Discussion, August 10, 2020

    Daily Discussion, August 10, 2020

    Posted: 10 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
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    Happy 12,000 mf

    Posted: 09 Aug 2020 07:18 PM PDT

    I hope bitcoin is here to stay, I have never been so happy about an investment, good lock to you brave investor out there.

    submitted by /u/Auslanderr30
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    12k has been conquered!!

    Posted: 09 Aug 2020 07:14 PM PDT

    Damn it feels good to be a gangster.

    submitted by /u/NvrIdle
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    Custom Raspberry Pi + 64x32 rgb led matrix bitcoin ticker. Hope to see 20K+ on it soon!

    Posted: 09 Aug 2020 09:40 PM PDT

    Aaaaand we're back.

    Posted: 09 Aug 2020 07:06 PM PDT

    Twelve!

    Posted: 09 Aug 2020 07:14 PM PDT

    PSA: blocks are no longer full

    Posted: 09 Aug 2020 07:07 PM PDT

    Noticed blocks are no longer full on bitcoin blockchain, which means all transactions in the mempool are getting filled even at the lowest fee rate (1sat/byte).

    This is the first time since 13 July where the mempool has been clearing completely.

    submitted by /u/brando2131
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    Please don't hesitate to ask your favorite e-shops, service providers and other vendors to accept Bitcoin, and especially via Lightning Network. No luck with Mullvad VPN and LN so far though...

    Posted: 09 Aug 2020 11:54 PM PDT

    Grayscale bitcoin etf bought another 5,973 Bitcoins sometime in the past 3 days

    Posted: 09 Aug 2020 11:31 AM PDT

    haha grayscale printer go brrrrrrrr

    ​

    current:

    Shares Outstanding419,091,700‡

    Bitcoin per Share0.00095775‡

    = 401,385.075675 Bitcoins owned by grayscale

    ​

    3 days ago

    Shares Outstanding412,808,000‡

    Bitcoin per Share0.00095786‡

    = 395,412.27088 Bitcoins owned by grayscale

    source: https://grayscale.co/bitcoin-trust/

    ​

    How does this work. example: Joe buys Bitcoin etf using Etrade. That doesnt impact bitcoin's price. But eventually the Bitcoin ETF has a 20% premium so the ETF sells some shares and uses the money to buy more bitcoin. They will continue to do this until the premium is gone and the premium is currently +16% so they will be buying thousands of more Bitcoins until it balances out.

    submitted by /u/atrueretard
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    Thanks to the bitcoin community who sent me $ats amid the explosion in Beirut (instead of big charity's corporate offices). We prepared these #Bitcoin food boxes for families in Beirut. ❤

    Posted: 09 Aug 2020 08:10 AM PDT

    Former Weather Reporter, Frankie MacDonald's Aug 10 Bitcoin Update

    Posted: 09 Aug 2020 06:50 PM PDT

    Something about the last 12 months put a smile on Bitcoin's face.

    Posted: 09 Aug 2020 11:22 AM PDT

    Programming: sending a payment

    Posted: 10 Aug 2020 01:09 AM PDT

    What's the easiest way to integrate _sending_ a bitcoin payment from an app? Is it possible to avoid implementing a complete wallet, e.g. by delegating to an installed wallet app (obviously automatically, so the user doesn't have to do the payment manually)?

    submitted by /u/Accomplished_Ad_8814
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    Canaan's Co-Chairman was 'Out', Chinese BIG3 Bitcoin Miner Makers under Inner Wars

    Posted: 10 Aug 2020 02:40 AM PDT

    Canaan's Co-Chairman was 'Out', Chinese BIG3 Bitcoin Miner Makers under Inner Wars

    https://preview.redd.it/c6uv0gq7b5g51.jpg?width=1620&format=pjpg&auto=webp&s=bd609326ffeb62c19eb0d3be8294766abfb8b8c4

    The Bitcoin miner maker Canaan Creative (NASDAQ: CAN) lately announced that five members of their board are leaving. As told, the terms of office of two directors, namely Jianping Kong and Qifeng Sun, expired on July 31, and three of its independent directors, namely Hong Zhang, Xiaohu Yang and Mei Luo, expired on August 1.

    It is noteworthy that all the departing directors are not allowed to seek appointments nor participate in the elections of the board of directors after the expiration of their terms of office.

    On July 9, Canaan Creative's Hangzhou headquarter underwent business registration record modification. Former directors Kong, Sun and Li Jiaxuan, as well as supervisor Tu Songhua withdrew from the board, and Meng Lu was added as the new supervisor. "The corporate contact person also changed from Zhang Jing to Zhang Ning.

    According to the news, recently, the founder Zhang Nangeng had come with some Canaan Creative executives from Beijing to Hangzhou, dismissed a number of managers of Hangzhou headquarter, took away the official seal and business license of the company, later that day, some employees called the police.

    ​

    https://preview.redd.it/jo7z24z8b5g51.png?width=1176&format=png&auto=webp&s=224cf31098a75503bd54d36e026d1e929fe7e5a1

    The same as Bitmain, the first NASDAQ listed Bitcoin miner maker Canaan Creative also built the VIE structure, the main body of the company set up in the Cayman Islands. According to some sources, there has been a power struggle in Canaan Creative, between Zhang's Beijing office and Kong's Hangzhou office.

    In response to what happened in Hangzhou, Canaan Creative said that, "after the registration modification, the company is running normally, and all subsidiaries in China are headed by Zhang as the company's executive director, general manager and legal representative".

    The power struggle in Canaan is not a single case. As the former industry dominant, BitMain technologies, who has released IPO prospectus in 2018 but with no progress, stuck in a Cayman Islands lawsuit between two founders. Its business is also badly affected.

    While another rising star MicroBT's founder suffered from the disaster behind bars. December 12, 2019, Shenzhen Nanshan Court announced that the criminal suspect Yang Zhenxing was arrested by the crime of official encroachment. Outpost OnChain confirmed the news with MicroBT at the first moment.

    ​

    https://preview.redd.it/88i23cbab5g51.jpg?width=1080&format=pjpg&auto=webp&s=7e289df3ce4c2d9ca2de959c0ce2847c2cfe9dbf

    Dr. Yang was graduated from Tsinghua University, had been the former miner chip design supervisor in BitMain and worked for the mysterious miner maker 'FriedCat'. He had designed so-called BE300 chip using a "full custom methodology", the chip failed to go into mass production with the disappearance of FriedCat.

    Yang disclosed the "Full Custom Methodology" to the founder of BitMain, Zhan Ketuan, which can significantly reduce the cost and power consumption of the chip. Yang worked part-time to help design the S7 miner (1385 chip) and the S9 miner (1385 chip) that made BitMain's mining dominance possible.

    In 2016, Yang left BitMain and built up Shenzhen MicroBT Electronic Technology Company. Subsequently, MicroBT released a number of high-performance crypto mining products, quickly squeezed into the market, which had shaken the market dominance of BitMain. Later on, BitMain launched a patent ownership and infringement dispute lawsuit against MicroBT.

    However, a source said that there are some hidden facts behind Yang's arrest. As the source acknowledged, during the end of 2019, the lawsuit between BitMain and MicroBT made significant progress, law enforcement officers from Beijing has come to Shenzhen to handle the case. Right at this point, as the chairman, general manager and the actual beneficiary of MicroBT, Yang arrested by a 100 thousands RMB worth embezzlement case. The case between BitMain suspended after that. The timeliness of the embezzlement case and the identity of the informer are worthy of considering.

    Satoshi Nakamoto may not have imagined the emergence of ASIC chips when he published the Bitcoin white paper. The mining machine, a money-printing artifact, has created wealth for mining giants such as BitMain, MicroBT and Canaan Creative in just a few years. While the rapid accumulation of wealth, pathetic stories have also been staged, from the vanish of the FriedCat to the BitMain's official seal wresting case. The road less traveled may not be the right path for everyone.

    submitted by /u/CjOnChain
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    Gifting Bitcoin to the Family

    Posted: 10 Aug 2020 02:24 AM PDT

    I've been quietly trading for about a year now & my wife, who has been nervously watching me "gamble" finally popped the question.

    "I want to learn about bitcoin, crypto & start saving too. Will you teach me?"

    You can't imagine how happy I was, with tears in my eyes I squeaked, "Yaaaas baby!"

    Anyway, I plan on gifting her with some btc for her birthday (tomorrow) & our anniversary. Any nice ideas on how I could present that to her?

    Unrelated: my boys are interested in bitcoin too & I plan on giving them their allowances in btc, thoughts on that? (They're responsible teens...mostly)

    submitted by /u/thisdodobird
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    Bitcoin investments returned 61% to investors since 2017 plunge

    Posted: 09 Aug 2020 11:07 PM PDT

    Casa App - Another Way to Buy Bitcoin

    Posted: 09 Aug 2020 07:45 PM PDT

    See the blog post for list of countries and states in the USA that it is available. FYI it is active for iPhone, but not Android yet. https://blog.keys.casa/buy-bitcoin-with-casa/

    submitted by /u/redditofuse
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    Cryptography is at the heart of bitcoin and other digital currencies . learn the basics

    Posted: 10 Aug 2020 03:32 AM PDT

    Bitcoin ROI from the halving and market cycle bottom

    Posted: 09 Aug 2020 11:34 PM PDT

    Coinbase fucked me

    Posted: 09 Aug 2020 03:47 PM PDT

    Merchant made me use coinpayments and the payment times out after 24 hours. Well coimbase held funds for 72 hours before sending them. So I dont know where my coins are but the merchant doesn't have them

    submitted by /u/nutsinthebutt
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    Bitcoin shines bright in the darkness of fiat

    Posted: 09 Aug 2020 11:07 PM PDT

    Bitcoin Price Just Broke $12K as Retail Investors Flood Market

    Posted: 10 Aug 2020 12:57 AM PDT

    People who have been into BTC for 3+ years, what has it been like?

    Posted: 09 Aug 2020 01:05 PM PDT

    How did you get into it? Did you invest a lot before the initial 20k run?

    submitted by /u/noereman
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    BTC market cap hits close to Bank of America

    Posted: 09 Aug 2020 06:27 PM PDT

    How can I withdraw the Bitcoin from my Electrum wallet for cash in Egypt?

    Posted: 10 Aug 2020 03:34 AM PDT

    As the title says... how can I withdraw my bitcoin? Like into my bank account in Egypt etc.

    Coinbase doesn't support my country.

    submitted by /u/JustBeyondo
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