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    Bitcoin Daily Discussion, August 13, 2020

    August 13, 2020

    Bitcoin Daily Discussion, August 13, 2020

    Daily Discussion, August 13, 2020

    Posted: 13 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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    Euro is your money. Bitcoin is our money.

    Posted: 12 Aug 2020 11:37 AM PDT

    PSA: You're currently accustomed to a bear market and you WILL try to sell too early

    Posted: 12 Aug 2020 09:33 PM PDT

    Imagine you're an astronaut going into space for the first time. You've studied for many years and know to expect zero-gravity. Perhaps you've even trained on simulators and gotten an estimation of how it might feel.

    First-time astronauts invariably have the same feedback:

    "Nothing could've prepared me for space. There's absolutely nothing like it."

    Embarking on your first bull run is much like going into space.

    You may have read about it, done some paper trading, maybe even simulated going through 2016-2017, but nothing can prepare you for the gut-wrenching, schizophrenic ride of ecstasy of having real money on the line.

    Your intuition will fail you. You've grown all your life in regular gravity and have developed visual-spatial senses that work well on Earth.

    When you throw an orange, you expect it to fall. When you see Bitcoin go up 15%, you expect it to flag then come back down to support.

    What's most insidious is that your instincts you've developed run subconsciously directing you to make mistakes. Much like an astronaut spends a day getting acclimated to space, give yourself time and patience to get used to the new normal.

    You will sell too early, thinking that on Earth, oranges don't normally travel that far. I'm here to tell you when you're going to the moon, oranges keep on going, much further than you'd expect.

    The reason why veterans tell you to hodl is because it's the most effective advice helping you learn that you are weightless in space. Once Bitcoin goes on a run, the fatal mistake is pulling the ripcord too quickly. This causes you to get stuck in fiat watching day after day of losing value denominated in BTC. This is the primary cause for people fomo'ing back in higher only to get rekt when Bitcoin comes down from its local top.

    If you're hodling Bitcoin, no one can tell you to get off the rocket ship. Ride it all the way to the moon with us. 10M by 2030 is my best estimation.

    ​

    If you enjoyed my writing, follow me on Twitter for future pieces! https://twitter.com/uncapslock
    This is all meant to be for entertainment and doesn't constitute financial advice.

    submitted by /u/uncapslock
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    Bitcoin simply doesn't give a flying monkey

    Posted: 13 Aug 2020 03:46 AM PDT

    Article from 2011 - "Bitcoin implodes, falls more than 90 percent from June peak"

    Posted: 12 Aug 2020 10:02 PM PDT

    Dustin from smarter everyday is looking in to Bitcoin.

    Posted: 12 Aug 2020 05:19 PM PDT

    Coinbase to launch Bitcoin-backed loans for US users

    Posted: 13 Aug 2020 03:02 AM PDT

    How quickly could bitcoin supply run out?

    Posted: 12 Aug 2020 08:11 PM PDT

    If one company (1 of 3300 NASDAQ companies I've never heard of) can buy up 1/1000th of the total bitcoin supply with the stroke of a pen, how quickly can it go?

    I feel like the scarcity aspect of bitcoin may be underrated.

    submitted by /u/toneblind88
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    I rode a train to 1 BTC

    Posted: 12 Aug 2020 02:03 PM PDT

    After three years of losing, my due diligence finally paid off. I did it. I own 1 Bitcoin. In the past 7 days, everything changed. I got back all of the money I had lost in the market due to exchange scams, overpriced fees, and investments falling in price. I made a lot of mistakes over the past three years.

    I was in crypto during the massive 2017 pump. I didn't sell at massive gains. I was greedy and naive.

    This time, I didn't let greed swallow me. I learned from my past mistakes. I made insane gains this past week and decided to sell all of my investment, and got myself a Bitcoin. Could the investment keep going up? More than likely. Its a DeFi coin, but I didn't want to pass this opportunity up.

    I'm in.

    submitted by /u/V-Highwind
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    Finally jumping on board!!!

    Posted: 12 Aug 2020 10:19 PM PDT

    I'm a student right now studying computer science, and during this quarentine I've been teaching myself about bitcoin. I've finally decided I'm in. I'm going to keep investing small amounts until we are one year out from the halving, then invest quite a bit, and hold until 1 year past the halving {atleast, probably longer honestly}. I just ordered my trezor hardware wallet and opened an exodus wallet as well. I'm just so excited and wanted to share with people who actually might care!

    submitted by /u/BasedJayyy
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    I wonder if there are any r/GirlsGoneBitcoin users from 2012-2013 who forgot they have a wallet with a balance.

    Posted: 12 Aug 2020 07:58 PM PDT

    I was bored and just checking sone old posts and wallets for fun and I did find 1 girl that had about a 0.2 BTC balance. I messaged her but she is probably off Reddit for good based on no activity.
    Some of the transactions were 3-5 bitcoins, it wouold be cool if someone forget and just stepped into 40k or something.

    submitted by /u/Boredguy32
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    ���� Bitcoin had a $700 pullback but market is still on the rise?! This market is showing strong fundamentals and signaling a strong run.

    Posted: 12 Aug 2020 06:15 PM PDT

    Looking for institutional-class bitcoin custodians

    Posted: 12 Aug 2020 04:56 PM PDT

    Title.

    I'm working with an institutional-class registered investment advisory that is currently shopping for established and reputable financial services companies who provide custody and/or sub-custody for digital assets like bitcoin.

    (Custody means that a firm can hold digital assets for their own retail investors, sub-custody means that they can hold digital assets on behalf of other financial services institutions. Some firms, like Kingdom's Trust, can do both [i.e. they hold digital assets for their own company but also can hold assets on behalf of Fidelity's customers who will see them in their Fidelity account]).

    Hopefully this post isn't against the rules because I'm hoping to tap into this community's vast knowledge base.

    If you have a recommendation that fits the above criteria, I'd love to hear it.

    submitted by /u/MySuperPowerIsADHD
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    Hash function explained in a simple way (next post will be about how it's used in bitcoin mining)

    Posted: 13 Aug 2020 02:10 AM PDT

    Coinbase to allow Americans to take cash loans with Bitcoin collateral

    Posted: 13 Aug 2020 01:17 AM PDT

    UK in recession again, going brrrrrr is not fixing things

    Posted: 12 Aug 2020 11:37 AM PDT

    21 million millionaires

    Posted: 12 Aug 2020 03:42 PM PDT

    If each coin was a million dollars in value, and the coins were spread out to one individual, there'd only be 21 million millionaires. Now, minus the 4 million wallets never to open again, the 1 million already known in dirty and not-fungible coins wallets, and the 2.5 millionaires that aren't even here yet until the year 2140...

    Are there still 21 millionaires? Get a coin already, hold onto it for your family, you'll be set ❤️

    Bonus: no banks, and soon, no borders.

    submitted by /u/FirstWaterbender
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    The Fed's Silent Takeover of the U.S.

    Posted: 12 Aug 2020 03:48 PM PDT

    BitPay integrates with Coinbase to enable instant, no fee payments. No signs of Lightning or Liquid. Why are they even doing Bitcoin?

    Posted: 13 Aug 2020 01:14 AM PDT

    Japan Set to launch Central Bank Digital Currency Under Annual Economic Policy

    Posted: 12 Aug 2020 09:59 AM PDT

    Wasabi Wallet and Tor SSL stripping attacks

    Posted: 12 Aug 2020 11:25 AM PDT

    I found some old bitcoin on my Circle.com account. When I try to send it says Bitcoin address incorrect...?

    Posted: 13 Aug 2020 02:07 AM PDT

    Can someone help me here. I have Electrum and when I copy paste my address it says "Bitcoin Address is incorrect"

    Can someone help me here?

    EDIT: Sorry, I am not super active in the BTC scene anymore. It turns out it requires a legacy address.

    submitted by /u/SE7EN-88
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    I don't have a hardware wallet yet but I want to buy Bitcoin RIGHT AWAY.

    Posted: 13 Aug 2020 03:40 AM PDT

    What are the odds of my crypto being stolen if I leave it in the exchange? I know it's a terrible idea but I want to buy ASAP and my wallet has not arrived yet. What should I do? The shipping tracker says a week.. do yall think my crypto would be safe in the exchange for a week? Or should I just wait for the wallet to be safe.

    submitted by /u/DemarZ91
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    YAM Attack

    Posted: 13 Aug 2020 03:39 AM PDT

    Did anyone else see it happen?

    submitted by /u/ZillaR32
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