• Breaking News

    Saturday, August 29, 2020

    Home Unlabelled Bitcoin Daily Discussion, August 29, 2020

    Bitcoin Daily Discussion, August 29, 2020

    August 29, 2020

    Bitcoin Daily Discussion, August 29, 2020

    Daily Discussion, August 29, 2020

    Posted: 29 Aug 2020 12:01 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]

    Money is evolving, it’s time to adapt!

    Posted: 28 Aug 2020 06:43 AM PDT

    How to set up your own Bitcoin node, Electrum wallet and Server - Reclaim your sovereignity, privacy and autonomy

    Posted: 29 Aug 2020 03:06 AM PDT

    Biggest Dutch bank ING introduces negative interest for bussines accounts over 250k (article in Dutch)

    Posted: 29 Aug 2020 12:52 AM PDT

    RIP to the first bitcoin transaction recipient, and full node operator (6 Years today)

    Posted: 28 Aug 2020 12:10 PM PDT

    The Brilliant Satoshi Nakamoto responded to Quantum Computer FUD 11 years ago

    Posted: 28 Aug 2020 06:48 PM PDT

    1. "SHA-256 is very strong. It's not like the incremental step from MD5 to SHA1. It can last several decades unless there's some massive breakthrough attack."
    2. "If SHA-256 became completely broken, I think we could come to some agreement about what the honest block chain was before the trouble started, lock that in and continue from there with a new hash function."

    Source: https://bitcointalk.org/index.php?topic=191.msg1585#msg1585

    And keep in mind that this is worst case situation, as if Quantum computers came unsuspectedly years earlier- I think lamport signature or other solutions could easily be implemented before any trouble comes.

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

    A whole new kind of lightning & fiat interface through debit cards? Announcing lastbit

    Posted: 28 Aug 2020 09:39 AM PDT

    Soon after Satoshi made his big announcement more than a decade ago, a lot of concerns emerged pointing towards a crucial problem on his solution: scalability. Particularly since Mt. Gox, a lot started to change for Bitcoin. Out in the open, a multitude of crypto exchanges started popping up making Bitcoin and other coins easily accessible to pretty much anyone. Nevertheless, the original concerns on Satoshi's proposal remained. In parallel and away from the spotlight, a group of passionate developers started crafting the solution to Bitcoin's scalability problem. Today the solution is here and it's name is the Lightning Network.

    Currently, users can access for free a wide range of Bitcoin Lightning wallets. Nevertheless, instant Bitcoin payments are still far from mainstream. Most of these wallets are extremely hard to use and as such are only catered to the most experienced of users. Despite that, the future of Lightning looks bright. As of today, there are over 11K Lightning nodes out there and this number is steadily growing. Lightning's case of becoming the solution to Bitcoin's woes looks strong.

    Holding that as a North star, we started building a solution to combine hardware level security with Lightning to enable instant Bitcoin to fiat transactions on hardware at a POS through debit card emulation.This project was overly ambitious and we quickly realized not enough people cared enough about hardware level security for payments. But the ground we covered was not in vain. During the process of building our hardware solution and talking to our beta users we came across a powerful discovery: enabling small and instant Bitcoin payments with zero fees to mainstream users via Lightning could be the way to finally make Bitcoin a widely and globally used means of payment.

    During the last few years, we've seen titans, such as Coinbase and Binance, emerge. Undeniably, these projects have helped Bitcoin tremendously by raising awareness and making onboarding to the cryptocurrency easy and intuitive globally. Nevertheless, an equivalent figure to position Bitcoin as a globally usable currency via Lightning is yet to come.

    With this in mind, we built an interoperable payments layer between Bitcoin (Lightning & On-Chain) and Euros (to start with), using payment instruments familiar to mainstream consumers, namely IBAN's and debit cards. This means, users can move between Bitcoin and Euros in either direction, with a single interface.

    This will allow users to:

    -(i) Send and receive Bitcoin payments both form and to Lightning wallets and Bitcoin on-chain wallets;

    -(ii) Send and receive Euro payments both from and to IBAN's and debit cards;

    -(iii) Make Bitcoin payments, both Lightning and on-chain, directly from Euro denominated IBAN's and/or a debit cards; and

    -(iv)Top-up Euro denominated debit cards directly with Bitcoin.

    All of this was carefully built in response to what we heard from the community and as we mention throughout our story. We've dedicated the last few years of our lives and the foreseeable future to make this happen and we simply want to make it possible for more people to do things with Bitcoin.

    TLDR: Lastbit is putting out a beta application that contains a single interface to Bitcoin, Lightning, Euros and debit cards. This app will allow users to move between these payment instruments in any direction they like. Get paid in Euros from a Lightning invoice? Sure. Pay Euros to a Lightning invoice? Sure. Swipe a debit card and pay for your purchase with a Lightning invoice? Sure. And more.

    ​

    *We are still in beta and will soon start to roll-out in Europe

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

    In the last 100 days, the number of Bitcoins in the Grayscale Bitcoin Trust (GBTC) has increased by more than 78000. These coins are locked for 6 months too.

    Posted: 29 Aug 2020 02:05 AM PDT

    I had made a similar thread 100 days ago.

    The following is a simple table showing the number of bitcoins in the GBTC as seen on its page here on the given days.

    Date Number of btc in GBTC
    31 Dec 2017 170,000
    31 Dec 2018 204,390
    26 July 2019 239,513
    26 Oct 2019 257798
    7 Feb 2020 283,192
    27 Apr 2020 312886
    1 May 2020 323262
    17 May 2020 (100 days ago) 343954
    3 July 2020 386658
    27 Aug 2020 (latest today) 422308

    Number of bitcoins acquired in last ~100 days: 422308 - 343954= 78354

    The rate of acquiring bitcoin in gbtc had accelerated after the start of April 2020, as you can see above in the table. At the rate of about 800 bitcoins per day that GBTC has bought every day for last 100 days, the GBTC is buying Bitcoins equal to about 85% ( 783/900) of all supply of newly minted Bitcoin.

    And GBTC is just one of the many ETF's that people who don't want to fiddle with private keys etc, can use to acquire Bitcoin, albeit the largest one.

    In this period, the MNC Microstrategy has bought a further 22k Bitcoin.

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

    I have only One thing to say to the White Truck that looted my farm stand.... You didn't steal my Bitcoin!!!��

    Posted: 28 Aug 2020 08:10 AM PDT

    Why I am still Bullish on Bitcoin After Hodling it for more than 4 years

    Posted: 28 Aug 2020 01:01 PM PDT

    I started buying btc ( which I never sold afterwards) in 2016, and have been holding only btc since then. I continue to hold it, and even buy it, even though today my so called btc stash is 20x its original price.

    Here is my opinion about btc's expected price action in next 2-3 years

    • first point, there will be no parabola like late 2017, where btc price went 4x in about 4 months. 4x price action in such short range, will not happen, Because there are many exchanges like bakkt and cme, which allow shorting of btc. Which means that price action will not be drastic.
    • the upward movement in price will continue for next 2-3 yeras, and beyond. Overall, I expect it to be at 18k at EOY, and at about 25k-40k at end of 2021.
    • The price rise is happening due to demand from gbtc ( normal 401-k holders), and demand from recent buyer like Microstrategy , which is a mnc that bought staggering 22k btc. That 22k btc, btw, took price from 9k to 11k. So here you can see demand directly taking price higher. I keep a tight watch on gbtc, and its accumulating btc at a drastic pace, spurred by demand from normal fellows mostly who are buying it for their 401-k. On top of that, get this, gbtc has no redemption program. Which means it only buys btc, ( and sells it only for fees if any).
    • And now Fidelity is coming with its own Bitcoin Fund ( and only Bitcoin). That shows the demand for Bitcoin from the investors at large.
    • Governments have already realized they cannot stop btc. Trump had told Mnuchin in 2018 to "go after btc'. But mnuchin could not do anything, because there is not much he can do. So on that front, bitcoin has proven ( to the extent) its strength as decentralized network which can't be brought down easily be governments. That's why microstrategy bought it too - they aren't fools to put so much money in something Mnuchin could bring down overnight by a decree. So there will be no such decree. At some point, govt's will likely enforce control ( using tax as reason, for example), and it will reduce Bitcoin's attractiveness, but its hard to look that far into future, because as of now, that is not what's happening.
    • Another bullish point is ABSOLUTE lack of any alternative to btc. The top 10, apart from btc, is a shitshow. XRP is an out and out scam. and even others are totally no shots and scams. So Bitcoin is the only thing in this market.
    • I think anyone who buys btc today, and holds for next 10 years, can get returns of about 10x-15x. And the thing is, the risk is very low, so I strongly recommend people to buy at least 10-20% of their portfolio in btc. This is for EVERYONE. I myself am about 80% into btc.
    • Finally, don't buy btc if you can't stand falls as much as 75% ( in few months), and more. This is speculative asset. The base price is defined by long term holders, but the daily market price is defined by traders, who will sell all btc they hold ( even as people like me will not do that). So the price can flucuate, and I recommend you only buy if you can hold it for minimum 4 years.
    submitted by /u/parakite
    [link] [comments]

    Money printer go BRRR

    Posted: 29 Aug 2020 01:05 AM PDT

    I'm new though

    Posted: 28 Aug 2020 11:26 PM PDT

    On the hunt for the cryptocurrency conwoman who stole billions

    Posted: 29 Aug 2020 01:38 AM PDT

    My sister made this for me. Love it. HODL!!!

    Posted: 28 Aug 2020 07:42 AM PDT

    Fidelity Is A 1,000 Pound Bitcoin Gorilla In The Making

    Posted: 29 Aug 2020 03:51 AM PDT

    Bitcoin Futures expiration

    Posted: 29 Aug 2020 12:12 AM PDT

    How many bitcoin futures contract are running over the world ?

    ​

    ​

    Where can i get these information

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

    Visa Exec: "Never in the history of mankind was so much stolen from so many by so few. Opt out with Bitcoin." The tides are turning, and quick than one might think.

    Posted: 29 Aug 2020 03:51 AM PDT

    600k Hotels To Start Accepting Bitcoin

    Posted: 29 Aug 2020 03:49 AM PDT

    The ModiHost team believes that the future belongs to digital technologies and cryptocurrencies. The latter will soon supplant fiat money as the new economic age has arrived. In the new economic system there will be no place for traditional money.

    Cryptocurrencies will be used everywhere, and the evidence for that can already be seen in world news.

    Agoda, a digital travel platform that is part of Booking Holdings, has partnered with Travala.com, a cryptocurrency-friendly booking platform.

    With this partnership over 600,000 hotels in some 200 countries now allow travellers to book accomodation with Bitcoin, Ethereum, Binance Coin and over 25 other digital assets.

    ​

    https://modihost.io/

    ​

    https://preview.redd.it/cq704h709xj51.jpg?width=1280&format=pjpg&auto=webp&s=e53af94a38868506c6c751312151b263315ecf09

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

    I was wondering since I got the Bitcoin core from (link down below) and I was wondering if it was a safe site. Hopefully it is because I’m excited to start

    Posted: 29 Aug 2020 02:37 AM PDT

    After reaching your BTC goal

    Posted: 28 Aug 2020 06:58 PM PDT

    Did you change your investment strategy after reaching your BTC goal? I DCA'd to my goal and I was wondering if anyone changed their strategy after reaching theirs.

    submitted by /u/JonBoy82
    [link] [comments]

    Wtf happened to DropBit

    Posted: 28 Aug 2020 09:59 PM PDT

    I set that wallet up a long time ago and never checked on it again. Apparently 6 months ago this app stopped working. I know, not your keys not your coins. I didn't have much on that wallet, but would obviously still try to get it back. If anyone has any advice, I'd appreciate it!

    submitted by /u/thawy28
    [link] [comments]

    Is buying at $11 and selling at $100 considered weakhand?

    Posted: 29 Aug 2020 03:10 AM PDT

    This is just a thought experiment and no actual prediction or advice is given.

    If you go back in time will you hold from $11 to $20,000 with all your current knowledge? Or will you sell at some earlier price when you're "rich"?

    What if I told you I am a time traveller and you got another chance of holding from $11k to 20,000K ($20M)? Will you hold or do you have a price in mind to sell?!

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

    Bitcoin Philippines

    Posted: 28 Aug 2020 06:23 PM PDT

    In here we have this app/platform coins.ph wherein we can easily cash in and convert to bitcoin for a fee.

    However the fee is really high and the app is somewhat unstable (in my usage). Is there any other platform where we can easily cash in, buy/receive bitcoins and cash out. Please be available in the Philippines.

    submitted by /u/chinkyn00dles
    [link] [comments]

    London Bitcoin Devs: Socratic Seminar on Bitcoin's Testnet, Regtest and Signet (incl transcription)

    Posted: 29 Aug 2020 03:04 AM PDT

    Video version: https://www.youtube.com/watch?v=b0AiucAuX3E

    Transcript: https://diyhpl.us/wiki/transcripts/london-bitcoin-devs/2020-08-19-socratic-seminar-signet/

    Intro:

    This is a Socratic Seminar organized by London BitDevs. We have a few in the past. We had a couple on BIP-Schnorr and BIP-Taproot that were really good with Pieter Wuille, Russell O'Connor and various other people joined those. Videos and transcripts for that are up. For those who haven't attended a Socratic Seminar before this isn't a presentation. Kalle (All) is on the call which is great but this isn't a presentation from Kalle this is a discussion. We have got a reading list up that I have shared in various places on Twitter and on the YouTube. We'll be going through those links and that will be the structure of the discussion. We will start off from basics. Early on is a great time for people who don't know too much about Signet to participate. It will get more technical and we will go into the implementation details later. [...] As I said Kalle is here which is great. He knows more about Signet than probably anybody else on the planet.

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

    No comments:

    Post a Comment