Bitcoin Daily Discussion, September 04, 2020 |
- Daily Discussion, September 04, 2020
- What a flash sale today. I increased my position by 20% today. Anyone else buying ?
- If the Stock Market Opens Red Tomorrow, Expect Massive Dips in Bitcoin; Bitcoin Growth/Dip == Stock Market
- LOL, why so much drama? Please bring it back to 3,000. I would appreciate the discounts
- Pack it up boys, parties over if it goes below $10,000 per bitcoin- Forbes /s
- Bitcoin for eggs. The true measure of intrinsic value!!!!
- Little pep talk for you newbs and other too. Hard facts you need to remember about bitcoin!
- Should you Buy Bitcoin? If you understand what it is, and where it's going; then Yes. If you don't know what it is and would sell at any sign of a 5%, 10%, 50%, or more dip; then, No.
- Reminder to buy the dip, not sell the dip!
- Bitcoin Price Slides Below $10,000 For The First Time Since July But Not All Hope is Lost
- Here we go boys/girls
- Fear not, grayscale ETF will keep buying its typical 5,000 coins per week
- Bitcoin is now the 6th largest world currency
- Mobile UPS secured bitcoin-qt node
- Relax bois
- Why you should stop looking at Bitcoin price
- Do we have to do this every time we have a bullish push?
- World's leading adult content site now accepts Bitcoin and other cryptocurrencies
- For all the people selling their BTC and investing in DeFi...
- CME gap explained
- Max Flaxman: 10x Security Bitcoin Guide
- Coinbase customer support has been useless over the last 36hours in hack.
- In theory could you do something like a Mixer on the Lightning Network?
- BLOOMBERG: "Swiss Canton Takes Taxes in Bitcoin as Crypto Gains Traction".
- My wife saysi can throw 500$ usd at btc if it dips below 10k usd ������������
| Daily Discussion, September 04, 2020 Posted: 04 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]  | ||
| What a flash sale today. I increased my position by 20% today. Anyone else buying ? Posted: 03 Sep 2020 05:01 PM PDT | ||
| Posted: 03 Sep 2020 06:48 PM PDT As the title suggests. I see posts of people asking whether to buy or not. No one knows but one thing is for sure, but when the election comes around in one month and stimulus starts drying out the stock market is going to crash, the FEDs can't QE forever. With that being said, Bitcoin follows the stock market. Today the stock market, dropped near 4%. Bitcoin dropped 8% and in the plague like dips in March/April. Bitcoin just doubles the dips of the stock market. Source: My ass. [link] [comments]  | ||
| LOL, why so much drama? Please bring it back to 3,000. I would appreciate the discounts Posted: 03 Sep 2020 08:33 PM PDT
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| Pack it up boys, parties over if it goes below $10,000 per bitcoin- Forbes /s Posted: 03 Sep 2020 07:30 PM PDT
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| Bitcoin for eggs. The true measure of intrinsic value!!!! Posted: 03 Sep 2020 11:41 AM PDT
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| Little pep talk for you newbs and other too. Hard facts you need to remember about bitcoin! Posted: 03 Sep 2020 05:07 PM PDT Don't let these dips sway your thoughts into thinking doom and gloom. Just remember this; 1)Fiat money has the ability to become worthless due to the fact that a central entity controls its production. In times of crisis they'll print too much and as much as they could which will just cause everything out there to be worth less. 2)Companies (stocks) have the ability to become worthless as well being that they function on the dollar as a piggyback. They got pumped due to the dollar, NOT because they did better business. Maybe Amazon and Tesla, but other companies no. 3)Bitcoin needs a DEMOCRACY to become worthless, meaning that for bitcoin to become worthless 100% of its participants have to agree on this AT THE SAME TIME. All miners have to shut down, all nodes have to shut down, many bitcoin businesses need to close doors, etc. Bitcoin is the first time in human history that we have DIGITAL SCARCITY. That alone will make bitcoin always worth it to everyone. So do not become fazed by this. Just use this opportunity to buy more. [link] [comments]  | ||
| Posted: 03 Sep 2020 09:08 AM PDT Bitcoin is only a safe investment if you understand what it is, and how it will continue to be adopted into this world at this point in its life, regardless of the market price swings in the short term. Because only then will you never cement a loss by panic selling, and then seeing Bitcoin runaway in price while you're still out, therefore losing both your Dollar value and your Bitcoin position value. I've been in Bitcoin for over 8 years now, and have seen many friends, family, and acquaintances come into Bitcoin, and many panic sell and FUD out during a down market. Most eventually coming back after learning more about Bitcoin, but some, for some it takes a long time to return. And for an even smaller few, well they never return, or at least not yet. But in essence, Bitcoin is only a safe investment if someone understands that their amount of Bitcoin is more important than whatever dollar value it has in the short term. That all they should be focused on is acquiring more Bitcoin, and that every 5 years after a halving happens, they'll see their coins grow in value. That they'll grow in value thanks to the math of its limited 21 million total coin supply, the new coin supply getting cut in half by the halvings making a more and more or the total supply being held by hodlers every year, and that its continued adoption into the global markets will always force it to eventually go up in price because those new adopters will always have to find what price those hodlers are willing to sell, finding Bitcoins new value that hodlers are willing to sell each time that happens, regardless of the short term evaluation corrections after a parabolic runs. Corrections mind, you that on average are only 80%, leaving anyone in before a 1000% growth parabolic runs to still being up 200% as long as they bought before the parabolic run started. The .com stock fluctuations were fluctuating on averages of 99% corrections during its first 15 years of life from the '90s to the early 2000s. And the ones that survived those early days were previously the best investments in history before Bitcoin came along. So Bitcoin is holding a better correction in its early day pattern than the biggest internet companies when they started, and its returns have already broken any records they previously held. Records they'll never be able to catch up to as Bitcoin continues its path. If they don't understand this, then even if they don't leave the market, they'll panic sell every time. And for some friends I know, they'll always sell at a dip right before a parabolic run, and then FOMO back in at a new all-time high, only to experience the next correction and sell again at their break-even point. With this, losing more Bitcoin position every time, but maintaining the same initial investment point which in their eyes as a win. I have one friend who came in with 10k in 2013, and today in 2020 is still only at 10k thanks to this pattern of buying and selling. Don't get me wrong, they've been up well over 100k$ at times, but they kept panicking selling at every parabolic run's slightest dip, then buying back in at the new all-time highs, only to then sell low in a repetitive cycle until they broke even. People like that friend try to play the market, and yes while they do win sometimes, that pattern of buying and selling will almost always lead you to get rekt during times of parabolic growth, and correction. Had my friend just held his initial 10k investment in 2013, he'd be a multi-millionaire right now. It's one of the most golden rules with investing in any market. If you try to play it, eventually it will play you. Instead, just find a market on the path of growth, and longevity, and do everything you can to just increase your piece of that market's pie, no matter what the price. If it goes down in price in the short term, then just think of it like a rare Gucci purse or limited edition rare popular shoes that are being released on sale. Buy the damn discount and hold onto that shit until the market catches up with what you know and realizes it's true value. Because of all these experiences throughout the years, if I'm trying to help anyone start buying Bitcoin, I tell them to learn about it first before buying any. To learn what it is, study its history, it's adoption growth, where it can be adopted, where it is being adopted, what it's limited 21 million coin supply is, and about what the halvings mean to its long term value. How it can and will be used, how they can protect it, etc. I always want them to learn enough about it to understand why HODLing is so important, and that the only thing that matters is that they increase their Bitcoin supply. That's the safest way to win in this game. Without understanding that, then they're a financial danger to themselves if investing in Bitcoin. Not because Bitcoin is a bad investment, but because they'll be a bad investor. [link] [comments]  | ||
| Reminder to buy the dip, not sell the dip! Posted: 03 Sep 2020 05:53 AM PDT
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| Bitcoin Price Slides Below $10,000 For The First Time Since July But Not All Hope is Lost Posted: 03 Sep 2020 04:55 PM PDT
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| Posted: 03 Sep 2020 05:35 AM PDT
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| Fear not, grayscale ETF will keep buying its typical 5,000 coins per week Posted: 03 Sep 2020 04:58 PM PDT panic sellers are fools. Grayscale is still buying every single week day. monday thru friday. yeah they're off on the weekends and on this monday for the holiday, but the whale is gonna keep buying. HODL TIGHT getting out these weak hands will only take us higher in the long run! [link] [comments]  | ||
| Bitcoin is now the 6th largest world currency Posted: 03 Sep 2020 05:40 AM PDT
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| Mobile UPS secured bitcoin-qt node Posted: 04 Sep 2020 03:15 AM PDT
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| Posted: 03 Sep 2020 10:05 AM PDT | ||
| Why you should stop looking at Bitcoin price Posted: 03 Sep 2020 08:48 PM PDT We are in late 2018. TSLA just hit $75 (it recently split 5:1, so it was $300, but you get the idea), a new all-time high. Helping the shareholders is Elon Musk making a now famous tweet that he's "taking the company private at $420" and that he has "secured financing." At the time, many people were shorting the stock, i.e., betting the stock was going to do down. Almost immediately after, the stock crashes, eventually dipping below $35. A 50% decline. Then, all of a sudden, TSLA jumps to $180 per share. Never seen before. Again, many people line up and begin shorting it. Coronachan helping, it falls below $85. Many people say that TSLA is dying, dead or a mix of the two. Many say that the "bubble has popped." TESLA hit $500 two days ago. Even if you had bought it at the WORST POSSIBLE TIME in the last year - that is, a full $180 per share - you would have hit a near 200% return. And this is what bitcoin is, really. When you realize it only take a couple dozen people to influence, or rather manipulate the price, day to day action becomes irrelevant. You'd be shocked at how easy it is to crash the stock price of Tesla, or bitcoin. It takes just a small coordinated effort and it's even easier on Bitcoin, which is unregulated. But look at the big picture. TSLA recovered quickly to $500. And so will bitcoin. The current bitcoin price is only relevant in two scenarios: 1) If you plan to buy more 2) If you badly, badly need money, but truth be told, you should have liquidity, i.e. bitcoins should be long term. Other than that, what 2-3 manipulators decide bitcoin is worth today is utterly irrelevant to me. In 5 years, there will barely be any new bitcoins being made, and more and more people buy bitcoins for the long term every day. Bitcoin is not like gold, you cannot mine a near limitless amount of it (more gold was being extracted in 2019 than ever before). Bitcoin is bitcoin. 21M. So stop caring about the price unless you are in one of the two scenarios above. Bitcoins price in the next 2-3-4-5 years is utterly irrelevant to you or me. Thank you. [link] [comments]  | ||
| Do we have to do this every time we have a bullish push? Posted: 03 Sep 2020 04:46 PM PDT | ||
| World's leading adult content site now accepts Bitcoin and other cryptocurrencies Posted: 03 Sep 2020 08:22 AM PDT
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| For all the people selling their BTC and investing in DeFi... Posted: 03 Sep 2020 06:35 AM PDT I just want to say what an enormous risk you are taking. It's almost fall 2020, BTC is almost 12 years old, and institutional investors are only beginning to dip their toes into BTC. And just their little toes. The last 4 years have seen significant financial infrastructure built around BTC such as Bakkt, CME futures and other futures markets, plus institutional funds with firms such as fidelity investments, and even after all that, investors from traditional finance are only beginning to think about the possibility of allocating a small % of capitol into BTC. Do you seriously think these massive traditional finance players who are worth billions .... care about DeFi? DeFi is so off the radar of these people, most have probably never hear of it, and if you explained it to them they'd probably laugh and say "sounds like a nice toy". If you're in the crypto bubble, and are listening to the rantings of V. Buterin, and other blue-checkmark figure heads from the space, it's easy to get sucked in by the propaganda and really believe that DeFi will change the world - and it might - but don't hold your breath. The fact is DeFi is built on a blockchain (Ethereum) which has an enormous mountain to climb in terms of scaling beyond 15 TPS, and the entire DeFi space is built on this blockchain. The Ethereum blockchain size is ballooning out of control and soon will be out of the reach of the average hobbyist. BTC on the other hand is built with incredible care and precision and nothing is rushed. Its blockchain and codebase are rock solid because the bitcoin ethos is quite the opposite of Ethereum's: Move slow and mend things. It's this attitude that has won BTC the attention of institutional investors and is the reason why they are beginning to consider looking at it as part of their portfolios. I may be wrong, but I think Ethereum is a long way off being seen as anything but a toy by these big institutional players - especially for all the promises it makes - such as being the "world computer", when it's clearly not. Buzzwords are great, but high net-worth investors who know what the fuck they're doing do not invest in buzzwords. They perform rigorous analyses of the performance of the asset, the underlying algorithms, monetary policy, people, developers, and scour the entire ecosystem for any signs of inconsistencies or weaknesses. They do not invest in complex things that they do not understand. So the BTC price has taken a bit of a tumble in the last day - I urge you to stand firm and do not sell your precious BTC because you heard some random YouTuber say that DeFi is the future. If you see this dip in price as anything other than an opportunity to accumulate more bitcoin, then you are on the wrong side of history. [link] [comments]  | ||
| Posted: 03 Sep 2020 06:35 PM PDT For those who are wondering what CME gaps are and why do the fill. [link] [comments]  | ||
| Max Flaxman: 10x Security Bitcoin Guide Posted: 03 Sep 2020 01:53 PM PDT | ||
| Coinbase customer support has been useless over the last 36hours in hack. Posted: 03 Sep 2020 03:59 PM PDT Approximate timeline of events to Coinbase account compromise and ACH transfer from Chase Bank to Coinbase. Ticket #02674780. Note that I'm unable too get in touch with coinbase at any point beyond automated emails. • 2020-09-01 9:18PM: Notice login attempt to dormant Coinbase account. • 2020-09-01 9:18PM: Notice suspicious activity on email with emails being received and immediately deleted. • 2020-09-01 9:27PM: Requested my account Coinbase account sign-in be disabled. • 2020-09-01 9:39PM: Initiate support case with Coinbase. • 2020-09-02 9:45PM: Learn that cell phone does not appear to be working correctly and I am not receiving texts and cannot make outbound calls. I later come to the realization that the perpetrator has ported my cell phone number to bypass two factor authentication on Coinbase and email accounts. • 2020-09-02 10:00PM: Contact Sprint after hours support via chat on website and am told that my account has been canceled and it is a system glitch. Support team will look into it and get my phone up and running within 24 hours. • 2020-09-02 11:00PM: Initiate deleted email recovery from Yahoo Mail. • 2020-09-02 11:00AM: Recover deleted Yahoo Mail emails and identify that password reset on Coinbase account has been performed by a person in the UK and that a $25,000 transfer and $65.00 transfer has been initiated. Note that I have a US based account and have not logged in in ages nor have I ever purchased anywhere near that amount of Bitcoin. This should set off alarm bells for Coinbase. • 2020-09-02 11:00AM: Check chase account and ACH transfer does not appear in pending via online Chase portal. Assume Coinbase may have flagged this charge as fraudulent given prior activity and request for locking the account. • 2020-09-02 11:28AM: Still no access to a cell phone. I placed call to chase fraud department from my work Skype account apprising them of the situation, performed a username reset, password reset and added a verbal password to my account. Fraud support fails to restrict my account despite me telling them that it was compromised via Coinbase and that an ACH transfer was going to be initiated from Coinbase for $25,000. • 2020-09-02 11:49AM: Call Sprint and determine my phone number has been ported to John Anderson at T-Mobile. T-Mobile needs to investigate to give me my phone number back and estimates 24-48hours before they end their investigation. • 2020-09-02 3:30PM: File an identity theft police report with Police. • 2020-09-02 4:45PM: Regain access to my cell phone number and it is ported back to my name. • 2020-09-02 5:00PM: Notice ACH transfers to Coinbase for $25,000 and $65 are pending in bank statement. • 2020-09-02 5:05PM: Place call to Chase Fraud department. Tell them that they should cancel the ACH transfer marked as pending and that my account is compromised. I am transferred to Claims. I tell claims that my account is compromised and that they should cancel the transfer. Claims tells me that they will put some sort of hold on the transfer but that I may be liable for fees from Coinbase and that I will have to fill out a form. • 2020-09-02 9:00PM: Initiate full scan across all my computers for viruses and worms with two different security suites. No viruses or worms detected. • 2020-09-03 8:00AM: Identify that ACH transfer was processed despite my calls to the Chase Fraud department. • 2020-09-03 9:00AM: Visit Chase Bank. Restriction is put on account. No one is able to explain why the ACH transfers were allowed to complete. Chase Bank requires I fill out a claims form before they can investigate my case which takes 24 hours to generate. • 2020-09-03 2:00PM: File complaint with the FBI. Updates because why not go live.... • 2020-09-03 4:30PM: Speak with a claims manager(?) at Chase bank. He informs me that if your account says pending the money is already out the door (fun fact). Still no one seems to be able to tell me why my account was not restricted prior to the transfer. • 2020-09-03 7:45PM: File a complaint with the Department of Financial Institutions as it seems that Chase probably dropped the ball here. • 2020-09-03 8:15PM: Email a couple lawyers to see what my options are. Not sure anything will come of this or whether it will be worthwhile but it probably makes sense to check tomorrow. • 2020-09-03 8:45PM: I am still waiting on a response from Coinbase as to my case. • 2020-09-03 10:00PM: Receive an automated email from Coinbase that they will hold the funds additional 7 business days before they can be withdrawn due to suspicious activity. In the last 48 hours I am unable to get Coinbase on the phone or via email to tell me what is going on... I'm sure I failed somewhere along the path here but not being able to get in touch with anyone at coinbase is disturbing. Maybe they'll read this and actually reply beyond asking for my support ticket number. [link] [comments]  | ||
| In theory could you do something like a Mixer on the Lightning Network? Posted: 03 Sep 2020 06:10 PM PDT In theory could you do something like a Mixer on the Lightning Network? [link] [comments]  | ||
| BLOOMBERG: "Swiss Canton Takes Taxes in Bitcoin as Crypto Gains Traction". Posted: 03 Sep 2020 07:03 AM PDT
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| My wife saysi can throw 500$ usd at btc if it dips below 10k usd ������������ Posted: 03 Sep 2020 08:52 AM PDT |
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