Bitcoin Daily Discussion, September 01, 2020 |
- Daily Discussion, September 01, 2020
- Tesla CEO Elon Musk confirms, foiled ransomware attack targetting Gigafactory. Tesla employee rejects Bitcoin bribe worth of $1million and helps to catch the Russian culprit.
- First Swiss health provider accepts Bitcoin as payment
- At this point, the chances of Bitcoin dying are next to impossible
- BIP340 (Schnorr signatures) is pretty much ready to get merged into libsecp256k1
- What's an XPUB? Technical explanation incl illustrations (an excerpt from "Grokking Bitcoin" book)
- A Turkish tragedy around the corner: Run on the Turkish Banks. Sell your Turkish FIAT before goes to zero. BUY BITCOIN.
- A Sovereign Bitcoiner's Manifesto
- Anyone else wrestling with themselves over not investing more?
- Probably done before, but OC nevertheless
- Can Bitcoin exchanges periodically prove 100% reserves? It’s really a simple and fundamental question to the entire Bitcoin ethosphere that has gone largely ignored for 10 years.
- Electrum: 1400 bitcoin (BTC) stolen - The Cryptonomist
- 111 days after the 3 halving, and the future
- I mean... It's True ¯\_(ツ)_/¯
- Bitcoin
- The Bears don’t have enough strength to send Bitcoin under $ 11K
- Paranoia or not?
- The Better World That Bitcoin Builds for the Future Is Totally Worth the Risk of Losing Money
- Protection Over Profit: What Early Mining Patterns Suggest About Bitcoin’s Inventor
- Strike coming to Europe soon - Jack Mallers officially confirms on Twitter - yay!
- A recent piece I created to remember Hal. Genesis to 170.
- Why shouldn't we join together in a class-action suit and sue the IRS?
- Is there any store in the European Union that accepts Bitcoin when buying a Bike?
| Daily Discussion, September 01, 2020 Posted: 01 Sep 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: 31 Aug 2020 11:32 PM PDT
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| First Swiss health provider accepts Bitcoin as payment Posted: 31 Aug 2020 10:48 AM PDT
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| At this point, the chances of Bitcoin dying are next to impossible Posted: 31 Aug 2020 09:09 PM PDT The worst that could happen to Bitcoin was that it would become some obscure decentralized internet network with no real value. But at this point in the game, it's too big to shrink away into infamy. Wall Street is buying, hospitals are starting to accept it, banks are accepting it, stores are accepting it, PEOPLE are accepting it. It's too far adopted at this point for the dominos of adoption to stop falling. We're on a path that leans in an overwhelming direction towards Bitcoin's continued growth and adoption in this world. It was always a Binary equation when it started, and at this point, it's only got 1 way to go. Do you think Grayscale's clients who own the over 450 thousand Bitcoins are going to want to let them go? MicroStrategy who bought over 250 million dollars worth of Bitcoin as it's primary treasury financial reserve asset? Any of these guys who are, and will adopt in at the pro level of the financial world? We're at the brink of another parabolic run, and even if Bitcoin repeats history and 1000% jumps, then dumps 80%, do you think these guys would sell? Even after the drop, they'll still be over 200% on whatever they owned pre ATH(All-Time High Price). AKA, 20k$. These guys are going to see what we all saw after our first parabolic runs. They're going to see what happened, look at the history, and see that it does this every halving, realizing as we all did once, what Bitcoin truly is, and where it is headed. And these are hodlers who are already experienced in holding over 10 years, 20 years, 50 years, 100+^F'ing years. These are the same institutional buyers pumping the stock market right now despite this pandemic. Once they get a taste of Bitcoin, they won't stop doing everything they can to get more. The volatility will slow down, the growth will become more consistent, boring, and predictable even, just as the stock market is today. But the math holds true; once these guys are fully adopted, and all the adoption dominoes have fallen; Bitcoin will be over 10 million per coin. By then, growth will probably be as boring and predictable as the stock market. The math will dignify it to still grow faster than the stock market does today, but boring, with no massive price swings as we see today; where you can buy Bitcoin at a 50% discount just 1 day, or 1 week later. By then, most companies will probably have already converted their stocks into their own cryptocurrencies of sorts. It's the only logical next step; cuts out the stockbroker middlemen, just like Bitcoin cuts out the banks. But, regardless of all that stuff that is likely to come with this path that we're on now, the one thing I know for most certain is, before this next run happens, you'll want to get in. Like now. Before this next run even starts pricing over 20k$. Because, after this whole next run up and drop is said and done, you'll be lucky if we ever see a 20k$ Bitcoin again. The best chances will be a drop to 30k$ if we break just over 100k$, or 70k$ if we break just over 300k$. That's if we even get the 80% drop that history has shown this time around, now with these old school investors joining the game before the parabolic run up even starts. Buy now, before we break 20k$. Hell, keep buying whenever you can until we hit 20k again. I can guarantee you; after 8 years of buying through these markets, there is no better time to buy than right before the start of a parabolic run. Sure, you'll wish you'd have bought when it was at an all-time low price period, but then, you'd have to wait potentially up to 4 years for the next parabolic run to start after a halving, in order to experience any of the crazy historical price run action you've heard so much about. Buying 6 months after a halving like now; puts you on the financial rocket ship that is Bitcoin, right before takeoff, making you able to experience the ride that has made thousands of people addicts to this decentralized network over the last 10 years. IN the next 10 years, it will be millions of addicts; in the next 30, it will be billions. And the price, well the price will be numbers we think today as impossible. Because if you think 10 million is where this bad boy is stopping, then you really don't understand what will happen when the owners of quadrillions in value, become addicted to a decentralized network that's capped out at 21 million coins, and those owners of those quadrillions in value begin to move their asset holdings into Bitcoin; in order to feed their addiction to this decentralized network that many of us have grown to know. Once they know what Bitcoin is, and they have experienced the supply shock that Bitcoin's halvings have on it's value, then they'll begin to move their assets into Bitcoin's network like a crackhead selling their mom's TV just to score an ounce of meth after experiencing its financial ride. *Buy every chance you can, every paycheck; hop on this boat before it's too late and you miss another opportunity of insane ROI*. Don't get me wrong, even in buying in on the next cycle, you'll still be exponentially profitable if you hold for the long run. But every time we have a parabolic run, that exponential potential becomes less and less. Although exponential none the less. The 10k$ dollars per Bitcoin range will be looked at in 30 years; like we look at the days of Bitcoin being worth less than a penny per Bitcoin today. Hell, 10 years from now will be looking at a 10k$ per Bitcoin price range like we look at buying Bitcoin at 20$ a coin today. [link] [comments]  | ||
| BIP340 (Schnorr signatures) is pretty much ready to get merged into libsecp256k1 Posted: 31 Aug 2020 04:30 PM PDT
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| What's an XPUB? Technical explanation incl illustrations (an excerpt from "Grokking Bitcoin" book) Posted: 01 Sep 2020 02:07 AM PDT | ||
| Posted: 31 Aug 2020 07:25 PM PDT
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| A Sovereign Bitcoiner's Manifesto Posted: 31 Aug 2020 09:57 AM PDT Yesterday a post of mine got a good amount of attention in this, my favourite, sub. So I have decided to post it here in full... More than mildly, it annoys us that we have the tools to be truly sovereign and yet we continue to submit our ourselves, and our bitcoin, to centralised authorities. "Privacy is necessary for an open society in the electronic age"; yet KYC is demanded before we can trade. "Not your keys, not your coins"; yet millions of bitcoin sit in the vaults of custodial exchanges and wallets. For monetary liberty to be widespread it must be part of the social contract. We must come together to deploy decentralised systems that maintain Bitcoin's promise of sovereignty. These tools already exist and they are improving. Awakening Our Inner Apex PredatorBillions of dollars in cryptocurrency is traded, lent and borrowed on platforms that have self-custody and no KYC. Billions of dollars in cryptocurrency but not bitcoin. This decentralised financial system is called DeFi. Many Bitcoiners deny, ignore and attack DeFi because it is an invention, a mutation, that occurred on Ethereum. This reflexive defensiveness ignores a fundamental truth about Bitcoin: If any technology can provide value for Bitcoin, Bitcoin will simply adopt it. A nuanced view of DeFi recognises that it is composed both of valuable decentralisation but also of cancerous ponzis and evolutionary dead-ends. We will adopt DeFi where it improves Bitcoin DID (Defense-in-Depth) and cauterise the rest. Defense-in-DepthBitcoin maintains its sovereignty through technological, cryptographic means. First and foremost, private keys provide the only means of control and ownership. Second, and most famously, Proof of Work defends the network against attack. Attackers, however, are not limited to attacking the cryptography or the hashpower in order to limit our sovereignty. They route around and seek any weak links. "Trusted third parties are security holes". We increase the perimeter of defence by eliminating these trusted third parties. Ethereum is Bitcoin's TestnetWe will splice the DNA of DeFi into Bitcoin. We will increase Bitcoin's defense perimeter. The tools already exist. Ethereum is our testnet. Let it provide the radioactive pool where mutations are many. Let us observe it as it moves fast and breaks things. We will adopt it's best tools and learn to defend against its worst. Rootstock, a Bitcoin sidechain, can be our CRISPR in this genetic adoption. We will splice the code from Ethereum dapps and improve upon them. Cypherpunk RougesCypherpunks write code, share code, review code and copy code. Sovereign individuals use this code. Like the X-men's Rouge, Bitcoiners will absorb the superpowers of others. I have been working on a DeFi dapp for decentralised bitcoin trading and lending. Hopefully you will join me, or better yet, compete with me. "Those who would give up Liberty, to purchase a little temporary convenience, will have neither Liberty nor convenience." That will be our code. Onwards. [link] [comments]  | ||
| Anyone else wrestling with themselves over not investing more? Posted: 01 Sep 2020 01:47 AM PDT Bitcoin is a pretty substantial percentage of my portfolio (35-40%). Enough to make just about any financial advisor tell me I'm crazy. Enough that my friends and family would judge me hard. And yet, I just KNOW in my heart that it is by far the best investment I have. Better than TSLA, AAPL, AMZN, or anything else. The main reason it's not a larger percentage is because I haven't found a great way to invest money from my IRA/401k into Bitcoin, but I'm looking into Grayscale at the moment. Still, I could technically invest more. There's always more that could be done. I feel a bit like Oskar Schindler right now, thinking it's never enough. Is this an addiction? Am I going insane? Every time I buy more, I say "Ok. That's enough. You have enough." And then a week later, I am thinking about putting more into it. How can I justify not putting in more when I feel so confident that it's going to 5-10x in the next year? [link] [comments]  | ||
| Probably done before, but OC nevertheless Posted: 31 Aug 2020 09:16 AM PDT
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| Posted: 31 Aug 2020 10:54 AM PDT I wonder if Coinbase goes public, they will have to report this information. [link] [comments]  | ||
| Electrum: 1400 bitcoin (BTC) stolen - The Cryptonomist Posted: 01 Sep 2020 12:37 AM PDT
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| 111 days after the 3 halving, and the future Posted: 31 Aug 2020 02:06 PM PDT
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| I mean... It's True ¯\_(ツ)_/¯ Posted: 31 Aug 2020 12:36 PM PDT
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| Posted: 31 Aug 2020 02:27 PM PDT
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| The Bears don’t have enough strength to send Bitcoin under $ 11K Posted: 31 Aug 2020 09:54 AM PDT
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| Posted: 01 Sep 2020 01:30 AM PDT A bit long, but not tooo bad! The other day I went to get my car washed. Left it with the cleaners and went to go grab a coffee since the guy said it would take atleast an hour. So there I am, happily sitting in the air conditioned cafe, sipping on my ice americano wondering if I should have atleast tidied my car a little before I gave it to the shop... Nah, I thought... Then it dawned on me, I've always kept one of my Nano recovery papers in the glove compartment of my car! As I continue to drink, I quickly ponder what to do...would he check there? Would he know what it is...would he know what to do with it? Nah, I thought...it would be safe...right? I quickly finished my coffee and ran to him and noticed he had just finished cleaning the outside of the car. He hadn't touched the inside, all the trash was still there. I pulled out the paper and quickly out it in my pocket and sat in the room next door. Phew! I thought! He didn't touch it...or did he? He could have easily taken a picture of it...nah, that would be ridiculous! I spent the rest of the day thinking if I should let it be or do something about it. So, the same day, I went home sent my coins to an exchange I've dealt with before and trust, Binance. Oh, would you look at that, it's asking me for my 2fa which I deleted long ago since I stopped trading. Fair enough, reset that and set up a new one, no problem! So, I reset my ledger, got a new recovery seed, bought some nice cards to write them down on. Put each one in an envelope and wax sealed them so I know if they have been tampered with! Try to send my coins from Binance back to my ledger and it says because I had removed and put back on my 2fa, I need to wait 48 hours! Well, less than 24 hours to go...but I can't feel safe until they are back on my ledger! So, back to the question in my topic, paranoid or the right thing to do~? [link] [comments]  | ||
| The Better World That Bitcoin Builds for the Future Is Totally Worth the Risk of Losing Money Posted: 31 Aug 2020 11:17 AM PDT
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| Protection Over Profit: What Early Mining Patterns Suggest About Bitcoin’s Inventor Posted: 31 Aug 2020 07:27 PM PDT
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| Strike coming to Europe soon - Jack Mallers officially confirms on Twitter - yay! Posted: 31 Aug 2020 11:22 AM PDT
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| A recent piece I created to remember Hal. Genesis to 170. Posted: 31 Aug 2020 03:46 AM PDT
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| Why shouldn't we join together in a class-action suit and sue the IRS? Posted: 31 Aug 2020 12:00 PM PDT This guy is doing it and looks like he might win: https://blockchain.news/news/coinbase-user-sues-irs-illegal-seizure-of-crypto-records The lawyers can take 35% so they would be eager to take the case. Hundreds of thousands of people X $50K damage claim each = $$$ [link] [comments]  | ||
| Is there any store in the European Union that accepts Bitcoin when buying a Bike? Posted: 31 Aug 2020 12:28 PM PDT I'm looking for road bike, is there any store that sells them inside the EU? [link] [comments]  |
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