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    Bitcoin Daily Discussion, September 14, 2020

    September 14, 2020

    Bitcoin Daily Discussion, September 14, 2020

    Daily Discussion, September 14, 2020

    Posted: 14 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.

    submitted by /u/rBitcoinMod
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    im a retired skydive instructor, in oct 2016 i took a guy on a jump and he gave me a tip afterwards. he said "buy bitcoin" i would have preferred a $20..wish i listened then.

    Posted: 13 Sep 2020 03:37 PM PDT

    Pinephone running Bitcoin-qt & LND

    Posted: 13 Sep 2020 08:39 AM PDT

    Electrum 4.0.3 released (minor bugfixes)

    Posted: 13 Sep 2020 04:17 PM PDT

    PSA: Enable Tor as a simple way to make your node reachable.

    Posted: 13 Sep 2020 07:40 PM PDT

    Become one of the 10% of node operators that receive incoming connections.

    Installing bitcoin core is easy, and with pruning it really isn't the space sink it is characterized as. Even a modest computer can complete the initial block download (IBD) and become a full node. But what some users (90%) find a bit more challenging, is how to become a listening node. Listening nodes are an important part of the network, and are simple enough to enable. I can think of 4 ways to do it:

    1. Operate on an OS and Network that support uPnP, allowing bitcoin to open the ports for you.
    2. Subscribe to a VPN that allows you to open ports through their service.
    3. Manually configure your OS and network to forward port 8333 and 18333.
    4. Run Tor and direct bitcoin to listen through it.

    I'll discuss #4. Obviously #1 or #2 are easier, but require a VPN subscription or uPnP enabled HW. And if you live in a dorm or don't control the network, Tor may be the only free option available.

    As a bit of background, bitcoin supports three networks that your node can listen on:

    • IPv4 - This is the "legacy" internet that most are used to
    • IPv6 - A not so new upgrade allowing trillions of addresses instead of billions
    • Tor) - A privacy network allowing encrypted traffic to remain anonymous

    Obviously, the more you enable, the better, but here are the basic steps for Tor in broad strokes. If you have any questions post them here and I'll see if we can't help you out:

    1. Download, verify1 and install Gpg4win
    2. Download, verify2, install, and launch Tor Browser
    3. Download, verify3, install, and launch Bitcoin Core
    4. Launch and Admin command console in the directory containing tor.exe
    5. Install the Tor service: tor.exe --service install
    6. CD to service dir: cd %windir%\ServiceProfiles\LocalService\AppData\Roaming\tor
    7. Create and edit a file called torrc with the contents suggested below
    8. Restart tor: tor.exe --service stop && tor.exe --service start
    9. Record the hostname: type .\HiddenService\hostname as <hostname>
    10. Add the bitcoin.conf options suggested below
    11. Restart the bitcoin-qt program
    12. (Optional) Activate the bitnodes crawler at https://bitnodes.io/nodes/<hostname>-8333/

    It may take a while for your node to show up on bitnodes. I've found the check button sometimes has trouble with onions. Of course you don't need to do it, but it can provide a simple way to check status once your on the list.

    torrc file: (replace c:\windows with the proper path as needed)

    ```

    Change <Service-Dir> to C:\Windows\ServiceProfiles\LocalService\AppData\Roaming

    Log notice file <Service-Dir>\tor\service.log

    Bridges may be needed if the Gov't shuts down Tor exit nodes. Get Bridges by

    emailing bridges@torproject.org from Gmail (only) and uncomment as follows:

    Bridge obfs4 <ipaddr>:<port> <hash> cert=<base64> iat-mode=<n>

    HiddenServiceDir <Service-Dir>\tor\HiddenService HiddenServiceVersion 2 HiddenServicePort 8333 127.0.0.1:8333 HiddenServicePort 18333 127.0.0.1:18333 ```

    bitcoin.conf file: (entries to be ADDED)

    ```

    Change <hostname> to what you recorded earlier

    onion=127.0.0.1:9050 listen=1 externalip=<hostname> discover=1 ```

    Footnotes:

    • 1 Cert: {Subject: Intevation GmbH; SHA1: c13a65963ad53e78694dd223d518007791a05fe4}
    • 2 PGP Signing Key: 0xEF6E286DDA85EA2A4BA7DE684E2C6E8793298290
    • 3 PGP Signing Key: 0x01EA5486DE18A882D4C2684590C8019E36C2E964
    submitted by /u/brianddk
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    BTC in Pakistan

    Posted: 13 Sep 2020 08:46 PM PDT

    Hey guys

    I have a Pakistani Bank account with PAK rupees. Crypto is banned here and the availability of the USD, CAD and all is very little to none.

    Are there any online TRUSTABLE websites to which I can buy BCH or BTC with good rate and from using Pakistani rupees and a PAK debit card or bank account? (No Conversion of currency available)

    Something like easypesa or HBL

    Thanks to everyone that helps!

    submitted by /u/rameel13j
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    He tried to scam me, I tried to change him

    Posted: 13 Sep 2020 11:40 AM PDT

    Interview with Nicolas Dorier of BTCPay Server on Living on Bitcoin in Japan

    Posted: 13 Sep 2020 11:34 PM PDT

    A crappy little node walker (herder)

    Posted: 13 Sep 2020 10:57 PM PDT

    Hey guys, here's a crappy little node herder1 to try to find nodes running with the minrelaytxfee manually set. I started by looking at Addy's excellent python walker but thought the amount of work I would need to do to pair it down would be better spent just busting some POC out.

    The script basically just takes a nodes addnode list and bannode list to narrow the window of available candidates. The object is to (painfully) slowly allow your node to connect to each reachable node on the network. Base telemetry of each connected node is gathered with getnodeinfo. Here's the basic flow:

    1. (Slowly) Do a DNS dig to get an IPv4 / onion endpoint list from a pool of seeders
    2. Test the port of each using netcat (nc)
    3. Add known nodes to the addnode list
    4. Gather telemetry of each connected node using getnodeinfo
    5. Ban (24h) nodes after 5 minutes to force new connections
    6. Repeat

    By artificially limited the list of available endpoints, our node will eventually connect to nodes we haven't yet talked to so we can gather more info.

    I ran it for a few hours on testnet (ipv4/onion) before killing it. I found 6171 nodes, 1570 of which were accepting incoming connections on, and 415 of which I actively collected telemetry on. About 7.5% of the nodes were allowing TXNs below the default minrelaytxfee rate.

    Since I was planning on testing miner acceptance of TXNs below the default relay fee, I needed a way to find all the nodes that might accept them. This was my attempt to get my node to personally handshake with each node in the network.

    It's a little toy script, and I might pretty it up later, but it was still a fun experiment.

    Footnotes:

    1 - I realize this is an inorganic way to do node discovery and violates the spirit of TXN propogation, but its just a toy and \I believe), mostly harmless)

    submitted by /u/brianddk
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    Stack Sats

    Posted: 13 Sep 2020 11:21 PM PDT

    Monday Art - Vikki Zhang

    Posted: 14 Sep 2020 02:26 AM PDT

    Weekly update. 521 BTC were traded using LocalBitcoin last week,trading Bs. /BTC and BTC/Bs. (Bolivares, Venezuelan "official" currency, ISO VES). These 521 BTC were 1,985,000,000,000 Bs. (ATH in Bolivares). One BTC is around 4,000,000,000 Bs. Monthly minimum wage is around 2.1 USD.

    Posted: 13 Sep 2020 02:15 PM PDT

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

    September keeps the trend around 500 BTC traded weekly. Usefultulips reports 4,000,000 USD in September so this month could see a increase.

    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

    Monthly minimum wage is 800,000 Bs. one USD is around 370,000 Bs.

    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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    Monday Art - Javier Arrés

    Posted: 14 Sep 2020 02:26 AM PDT

    Non kyc bitcoin

    Posted: 13 Sep 2020 11:05 PM PDT

    What percentage of owned bitcoin do you think is 'non kyc' bitcoin?

    How to not care about paying extra for non kyc bitcoin on bisq/hodlhodl? I'm finding it hard to do lol. I suppose at 10x etc, it will seem negligible and some say 'non kyc btc' will be worth more in the future.

    submitted by /u/ANGRYBOI27
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    Mentor Monday, September 14, 2020: Ask all your bitcoin questions!

    Posted: 14 Sep 2020 04:00 AM PDT

    Ask (and answer!) away! Here are the general rules:

    • If you'd like to learn something, ask.
    • If you'd like to share knowledge, answer.
    • Any question about Bitcoin is fair game.

    And don't forget to check out /r/BitcoinBeginners

    You can sort by new to see the latest questions that may not be answered yet.

    submitted by /u/rBitcoinMod
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    Streets of Hong Kong today

    Posted: 13 Sep 2020 09:54 PM PDT

    Bitcoin Market— Week of 09/14/2020

    Posted: 14 Sep 2020 01:34 AM PDT

    Bitcoin Market— Week of 09/14/2020

    ​

    BTC/USD hourly chart

    ​

    ​

    The Bitcoin price had low volatility ever since it dropped from $12,000 to $10,000. There was buying activity as the price tested the $10,000 support multiple times. The BTC price rose slowly to $10,600 but was met with resistance, and is settling at around $10,300 without a strong sense of direction.

    In order to resume the bullish trend, the BTC price needs to build up the momentum to break the $10,600 resistance, as well as staying above $10,200. The support remains at $10,000. A break below this level would indicate a downturn and could test $9,000.

    Review of the week：

    Jay Hao, OKEx CEO, shared his views on DeFi that the decentralized finance space has grown exponentially over the last few months, to the point where more than $9 billion worth of crypto assets were locked in its protocols before crypto prices started dropping. This exponential growth in the last few months appears to be mainly related to a yield farming trend that started when lending protocol Compound began distributing its COMP governance token to users who interacted with the protocol. Yield farming or liquidity mining allows DeFi users to generate rewards with their cryptocurrency holdings by interacting with protocols that distribute governance tokens. Farming yield can be a profitable venture on its own, but the tokens being farmed often see their price surge as well (YFI and YFII's success). Meanwhile, there are various risks that aren't immediately clear (YAM's unaudited protocols and SUSHI's scam) Diversification is very often recommended by investors because not "putting all your eggs in one basket" helps ensure you don't lose everything to scams, unexpected market moves or technical issues, and invest in potential gems while it's still early.

    Disclaimer: The above market commentary is based on technical analysis using historical pricing data, and is for reference only. It does not serve as investment or trading advice.

    ​

    https://preview.redd.it/d8fnjquhr2n51.jpg?width=260&format=pjpg&auto=webp&s=2f07c65be29ed63da2d7fb564833f919fc74243b

    submitted by /u/Coinviva
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    Monday Art - Oxana Timofeeva

    Posted: 14 Sep 2020 02:26 AM PDT

    Some questions from a beginner!

    Posted: 14 Sep 2020 02:06 AM PDT

    Hello, I just started off using bitcoin and have been wondering the following:

    •What are some easy ways to get free bitcoin/cryptocurrency? Everything I've tried such as faucets etc seem scammy.

    •how often does bitcoin go up and down a significant value?

    •when is the best time too cash-out?

    Thanks for everything!

    submitted by /u/Chickfizz-eats-memes
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    The Seven Pillars of Bitcoin

    Posted: 13 Sep 2020 10:34 AM PDT

    EU to regulate crypto currencies?

    Posted: 13 Sep 2020 10:17 PM PDT

    Mosaic Exchange, anyone know how legit this company is, so far it’s checking out ...

    Posted: 14 Sep 2020 03:57 AM PDT

    Twitter head called Bitcoin the best currency on the Internet

    Posted: 14 Sep 2020 03:22 AM PDT

    Jack Dorsey, the general director of the social network, is sure that the cryptocurrency meets the principles of the World Wide Web, so it can become its monetary unit. But there are several obstacles that hinder the recognition of the BTC.

    The Internet requires its own currency, and Bitcoin is the best contender for this place, said the head of Twitter and Square Jack Dorsey in an interview for Reuters. According to him, the cryptocurrency and the Worldwide Web have a common feature — these tools are developed by the community and built according to common interests.

    "The Internet requires its own currency, and bitcoin is the best option at the moment. I don't see how this can change, given all the people who have the same goal and are working to unlock the potential of the cryptocurrency," Dorsey said.

    He added that there are several obstacles to recognizing the cryptocurrency. First, it is necessary to solve the bitcoin network problems regarding the speed of transactions — it is low. BTC blockchain is able to conduct 4–7 transactions per second, when, for example, this figure for Visa payment system is 24 thousand transactions per second. Secondly, the society has not yet learned all the advantages that digital assets have.

    Dorsey is a strong supporter of cryptocurrency and helps to spread it in the society. For example, in May, the Cash App from Square, which is owned by Jack Dorsey, was added to the opportunity to acquire digital assets. And in July, the Bitcoin logo appeared on the NASCAR car sponsored by Square.

    submitted by /u/switchere
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    Can anyone explain what he is actually saying? If i crack it i get to keep $700 million?

    Posted: 14 Sep 2020 03:07 AM PDT

    I see a few posts like this once a week on Craigslist - what is their business angle for scalping BTC?

    Posted: 13 Sep 2020 03:04 PM PDT

    I see a few posts like this once a week on Craigslist - what is their business angle for scalping BTC?

    I see these ads on Craigslist all the time. Will buy BTC for market value. Will sell it for a small commission fee. "Text me and we'll meet at Starbucks" is what some of them say. Outside of it feeling kind of shady, I'm actually wondering what their business model is.

    My presumption is that these are the folks that sell BTC in exchange for gift cards with high markup online. Or is there a more legit business? And who the heck buys BTC off of Craigslist?

    ​

    https://preview.redd.it/r6pqr6uvkzm51.png?width=1041&format=png&auto=webp&s=a4568503ba0fefc40f0ad493fbe724ecc7ccc7b0

    submitted by /u/jselbie
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    Is Cashless the New King?

    Posted: 14 Sep 2020 02:54 AM PDT
    Read more
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