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    Bitcoin Daily Discussion, September 02, 2020

    September 02, 2020

    Bitcoin Daily Discussion, September 02, 2020

    Daily Discussion, September 02, 2020

    Posted: 02 Sep 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
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    When Satoshi Nakamoto released the Bitcoin whitepaper, every initial response criticized why it wouldn't or can't work. Then Hal Finney responded:

    Posted: 01 Sep 2020 07:59 AM PDT

    i would never tell my actual friends to buy bitcoin

    Posted: 01 Sep 2020 06:10 PM PDT

    I have been into bitcoin for a few years and I used to tell my friends all about it. I explained much of the basics and for them to further their education abou it but most importantly to buy. They saw it go from 2k to 20k and shrugged it off (they called it off for being to volatile) Fast forward to 2020 .. I no longer would like to talk to ANYONE about btc except my immediate family. I hate not telling people (especially close friends) to buy when they do not see this as an actual asset. Any thoughts?

    submitted by /u/AOR66
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    Total Value on Bitcoin’s Lightning Network Sets Another Record High Amid Market Rally

    Posted: 02 Sep 2020 02:16 AM PDT

    Streets of London are BULLISH!

    Posted: 02 Sep 2020 03:10 AM PDT

    Americans in 1994 talking about their savings. The analysts have some good advice that many here could benefit from today. Stop worrying about the price, buy consistently, and if it goes down; don't sell, instead, buy more.

    Posted: 01 Sep 2020 09:32 PM PDT

    I have to be my own bank now. Which means I have to keep my life savings on my hard drive. Any advice?

    Posted: 02 Sep 2020 12:54 AM PDT

    I have to take my online business underground for legal and tax reasons. That means no more banks and bank accounts. I have to keep all my assets on my hard drive.

    No I'm not a Bitcoin freak. Yes I use Bitcoin, and yes I save some, but most of my money is going to stable coins, crypto-dollars and crypto-euro. Like Tether and USD Coin.

    These stablecoins are as good as real fiat money, they won't lose value but won't skyrocket either. Only issue is that I am responsible for banking security so if I get hacked all my money is permanently gone.

    What advice do you have? I'm thinking of setting up a dedicated cryptocurrency server by buying a laptop, installing the best firewall and antivirus, and using that computer for nothing else.

    submitted by /u/Professional_Ball_28
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    I finally purchased a Trezor - feels good!��

    Posted: 02 Sep 2020 01:21 AM PDT

    Help improve the first decentralized Bitcoin-native Margin trading and Lending Dapp.

    Posted: 02 Sep 2020 03:52 AM PDT

    How to invest through the regular indexes?

    Posted: 01 Sep 2020 11:23 PM PDT

    Okay so lets say I want to buy something linked to the performance of bitcoin on the equities market.

    What stocks/companies are on the major indexes working on this area for those of us that don't want to transfer money to crypto exchanges, figure out wallets, and all that stuff.

    submitted by /u/WhichEdge
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    London, Camden, today. Bullish.

    Posted: 01 Sep 2020 10:54 AM PDT

    “Bitcoin will never work.” ☠️⚡️

    Posted: 01 Sep 2020 11:34 PM PDT

    Even my San Andreas community servers is promoting Bitcoin :)

    Posted: 01 Sep 2020 09:44 AM PDT

    Max Keiser predicts Bitcoin, Gold, Silver to make all-time high soon

    Posted: 01 Sep 2020 07:42 PM PDT

    According to Max Keiser's tweet on Monday, said that Buffet move into Japan alongside his Gold investment confirms he is getting out of USD.

    He said further USD is trending lower today, about to break key support. Bitcoin – Gold – Silver Will all make new ATH in the near term…

    Max Keiser referred to Buffett's move into Japanese assets, taking a 5percent stake in America's biggest trading houses in a move which totals $6 billion.

    In a report by Reuters, Keiser was quoted to have said "The five major trading companies have many joint ventures throughout the world and are likely to have more. I hope that in the future there may be opportunities of mutual benefit.

    This was after the Federal Reserve confirmed that it would let inflation rise above its 2 percent target as a temporary measure, something which has been a heavy burden on the US dollar.

    After volatility, the USD currency index (DXY) began plumbing new depths on Monday, bouncing off its lowest levels in two years. Late in July, when those levels first appeared, Bitcoin saw a price jump to $12,500.

    submitted by /u/cryptoanalyticatech
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    Is there an in-depth place with full documentation of the entire bitcoin protocol and client specifications?

    Posted: 01 Sep 2020 09:38 PM PDT

    I'm working to create a clone mostly just to learn about blockchain and I had a few questions about how consensus is made about what transactions should be in the next block and how people efficiently share node IP addresses in a decentralized way.

    If anyone has the answers to any of these it would be really great and if not I'm willing to read some documentation. Thanks!

    submitted by /u/DudePotato3
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    Mom is putting money on an "crypto investment" company. Help?

    Posted: 01 Sep 2020 05:05 PM PDT

    Hey, so my mother is pretty invested in a company that takes your money, make crypto trades with it and gives you back, monthly, 10% of that quantity, for 2 years per contract.

    Since day 1 I told her i wouldnt trust these type of services and I keep being very skeptical about it. She sometimes gets anxious about the possibility of scam but most of the time shes confident. And her confidence is reinforced by talking to people in the chat groups of this company.

    I dont see any logic in this dynamic. Allegedly they just do trades with cryptos and you do nothing. They dont have any sort of marketing and say its "not needed". Only word of mouth. How weird is that?

    That being said, the payment never failed to be delivered and its been almost a year AND she has made another contract.

    That return has actually helped us when the corona came in but I have no reason to trust this.

    What are your thoughts on this matter? Thanks for reading.

    submitted by /u/cryptoSAD
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    Free to use Bitcoin Icons & Illustrations for everyone!

    Posted: 01 Sep 2020 12:06 PM PDT

    How the Bitcoin Blockchain Is Being Used to Safeguard Nuclear Power Stations

    Posted: 02 Sep 2020 02:23 AM PDT

    Waiting for the first orange dot...

    Posted: 02 Sep 2020 02:08 AM PDT

    Kazakhstan is negotiating a Gigantic Investment in Cryptocurrency Mining worth $ 714M

    Posted: 02 Sep 2020 03:59 AM PDT

    Updated 2020 - Bitcoin friendly banks (possibly still incomplete)

    Posted: 02 Sep 2020 03:30 AM PDT

    Sichuan's Blockchain Park: Chengdu Government Officials Welcome Bitcoin Miners

    Posted: 02 Sep 2020 02:56 AM PDT

    PornHub Now Accepts Bitcoin for premium services!

    Posted: 01 Sep 2020 06:39 PM PDT

    436 BTC were traded using LocalBitcoin last week,trading Bs. /BTC and BTC/Bs. (Bolivares, Venezuelan "official" currency).These 446 BTC were 1,610,000,00,000 Bs.(ATH).One BTC is around 4,000,000,000 Bs. Monthly minimum wage is around 2.3 USD.Inflation from March 2013 to July 2020 was 18,427,384,550%

    Posted: 01 Sep 2020 11:15 AM PDT

    Hi guys, as you might know I'm a Venezuelan "living" here.

    August trade using LocalBitcoin closed under 2,000 BTC.

    ​

    Venezuelan Central Bank posted today the inflation rate.

    ​

    • From January 2020 to July 2020 it was 492%.
    • From July 2019 to July 2020 it was 2,359%.
    • From March 2013 to July 2020 it was 18,427,384,550%

    ​

    The trade is only measured using LocalBitcoin, there are other exchanges like AIRTM (this one banned by the Goverment), Uphold, Binance and so on, but no open data as far as I know. Most of the Localbitcoin trades are in Bolivares (BTC to BS and BS to BTC).

    Here are more stats https://www.usefultulips.org/combined_VES_Page.html

    I recommend reading this website, it is one of the best english websites for Venezuela news (they sometimes touch the crypto and economic situation).

    https://www.caracaschronicles.com/

    The average income of the Venezuela is 0.72 USD daily (2020 numbers).

    https://www.caracaschronicles.com/2020/07/08/yes-venezuela-is-now-the-poorest-country-in-the-americas/

    Any question let me know, AMA. But check my links and sources first.

    Sources:

    https://orinocotribune.com/comprehensive-minimum-wage-increase-by-78-in-venezuela/

    https://www.npr.org/sections/goatsandsoda/2019/09/06/757822363/a-doctor-or-nurse-might-earn-6-a-month-in-venezuela-if-theyre-lucky

    https://coin.dance/volume/localbitcoins/VES/BTC

    LBTC listings https://localbitcoins.com/buy-bitcoins-online/ves/

    submitted by /u/WorkingLime
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    If you don’t know how money works then you don’t know how the world works.

    Posted: 01 Sep 2020 11:04 AM PDT
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