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    Bitcoin Daily Discussion, November 11, 2020

    November 11, 2020

    Bitcoin Daily Discussion, November 11, 2020

    Daily Discussion, November 11, 2020

    Posted: 10 Nov 2020 11:00 PM PST

    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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    This is a race you don't want to win.

    Posted: 10 Nov 2020 02:46 PM PST

    The billionaires are starting to arrive, and it's only the 1st inning of Bitcoin. Stack those sats before they do!

    Posted: 10 Nov 2020 08:01 AM PST

    Saylor says investors will flee from gold to Bitcoin because it is the superior store of value.

    Posted: 10 Nov 2020 05:12 PM PST

    Bitcoin Babushka

    Posted: 10 Nov 2020 12:48 PM PST

    How Bitcoin Empowered Me & My Business

    Posted: 10 Nov 2020 02:35 PM PST

    I'm a long time lurker and I see the occasional comment talking about how Bitcoin isn't very "usable". Obviously making small frequent purchases isn't ideal. Nevertheless, I thought my experience might be interesting for some and I'm also open to ideas to help me optimize my process. I live in a developing county but the majority of my business is done with clients abroad. (primarily the US).

    Receiving money has always been a big big big pain. Straight forward services like PayPal, Venmo, CashApp, Revolut, etc don't work here.

    Bank transfers are the obviouse choice but fees are usually high and bank exchange rates are a scam. Some smaller banks don't always support transfers to my country.

    Earlier this year I signed a retainer client and we started figuring out the best way for me to get the regular payments I'm owed.

    Initially, we used Xoom, a payment service similar to Western Union where client makes transfer and I have to go to a local physical location (a bank in my case) to recieve the cash.

    This meant I had to set aside 2-3 hours of driving back and forth and waiting patiently for the bank to ping another branch, verify my ID, verify the transfer, etc. and it cost me 3% of my payment.

    Next we tried Payoneer. 3% overall fee as well but took a week for me to get the money in my bank account.

    Finally, client and I discussed using Bitcoin. Both of us were already familiar with it so it was worth a shot.

    Process goes as follows: - Client buys Bitcoin on Coinbase and sends it to my wallet - Bitcoin shows up immediately and takes maybe 10-20 minutes to get 3+ confirmations. - I HODL some and transfer the rest to Localbitcoins where I have a regular "dealer" who has a local bank transfer waiting for me. - Transfer arrives immediately because it's between accounts within the same bank.

    The best thing is, the overall fee is around 3%... extra, to me!

    Bitcoin is a little more expensive here on Localbitcoins than on Coinbase (very recently not the case anymore).

    This process is far from perfect and I'm open to any suggestions on how to improve it.

    I chose to share it here because it has really been a great and empowering experience for me. I feel in control on my business's money in a way I never have before.

    I'm not at the mercy of some bank and their paralyzing bureaucracy.

    I think this new age of financial globalization Bitcoin is sheepherding in is something that a lot of people in the "west" forget. The US and Europe are well connected by traditional financial networks which, I believe, makes it a little harder to appreciate the true democratic decentralization and empowerment Bitcoin provides.

    Forgive me for rambling on and on, I hope anyone finds this worth the read.

    submitted by /u/TheSherryBerry
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    My experience buying coffee with bitcoin in San Francisco

    Posted: 10 Nov 2020 07:51 AM PST

    Bitcoin Sees Big Spike in Number of Active Addresses - It's getting as busy as it was in the 2017 bull run

    Posted: 10 Nov 2020 10:50 AM PST

    Does it make sense to sell at the next market top?

    Posted: 11 Nov 2020 12:57 AM PST

    I remember holding a lot of BTC back in 2015. Now it's cut by 60% due to selling and getting rekt'd by doing dumb things. I was throwing around 50-100 BTC here and there chasing greed.

    The ecosystem has grown tremendously since 2015. So many more on-ramps that were thought unimaginable 5 years ago.

    Considering many stories of whales making big profits at $10, $100, $1000 + and higher levels, but failing to buy back on pullbacks, most have less bitcoins now than when they started.

    This is also my issue. I sold last cycle. The price went down so much, but I was waiting for even cheaper prices. Before I realized, the price went higher past my selling price.

    It's almost impossible for me to regain my previous numbers of bitcoins.

    Considering everything, including tax complications, has anyone extrapolated what is the best scenario?

    I'm thinking of not to sell any BTC at any price If I don't need it for living expenses.

    submitted by /u/ytrfd
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    For UK/GBP buyers, what platform do you use to trade?

    Posted: 11 Nov 2020 02:43 AM PST

    Been using one called Coinburp until now who only charge a 0.0005 withdrawal fee (no deposit or trading fees). Does that seem fair? Just want to make sure I'm getting the best deal

    submitted by /u/toronado
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    My wife is actually pushing me to buy even more bitcoin

    Posted: 10 Nov 2020 03:27 PM PST

    Anybody else recognise this ?

    submitted by /u/RedWineBlackPiano
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    Bitcoin Daily Volume Up 270% This Week, Pushes Past $3 Billion

    Posted: 10 Nov 2020 03:51 PM PST

    Wait, if Bitcoin's technology makes it the only decentralized option we'll have, then doesn't that mean that no matter what other currencies appear Bitcoin will be valuable?

    Posted: 11 Nov 2020 12:31 AM PST

    Kind of like the theory that if something exists now, it always would have existed? Meaning that if demand for decentralized currency exists now, then no amount of adoption, of fiat currency will eliminate that demand. Even if the entire world adopts one fiat. So...HODL? Sorry I'm new lol

    submitted by /u/mr_chub
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    Are you at the top 10% of the Bitcoin ecosystem, if you own 1 Bitcoin?

    Posted: 10 Nov 2020 08:18 AM PST

    Just wondering how "rich" I am in Bitcoin terms, if I have just 1 Bitcoin.

    ​

    Also, out of 7 billion people on this planet, how many people actually owns Bitcoin right now? It can't be more than 17million people I figure (that's 10 times the Reddit Bitcoin members).

    submitted by /u/SuckingOffaBitcoin
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    Evolution of the signature size in Bitcoin

    Posted: 10 Nov 2020 08:28 AM PST

    Bitcoin Core node Hacked

    Posted: 10 Nov 2020 04:31 PM PST

    Hey guys, Im new using a Bitcoin Core Node, I had a big problem with a Bitcoin Core node.

    I install a node using an AWS image, and perform an integration using "denpa/php-bitcoinrpc" to send BTC automatically through JSON RPC. The problem was that after two operations we got hacked and lost 2.99 BTC. My question is, taking into account that the wallet in the bitcoin core had a "passphrase", taking into account that the bitcoin core could only be connected from another AWS instance through https, and WE HAD OPEN ONLY the port 8333 to "ANYWHERE". ... How could this be possible? Any Idea.... what Can I do to avoid this things??? Thanks in advance

    submitted by /u/ApprehensiveDuty2642
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    Russia accounted for the highest Bitcoin interest in October at 19%

    Posted: 10 Nov 2020 07:44 AM PST

    Bitcoin has more than doubled, just since I made my "Buy Bitcoin" song

    Posted: 10 Nov 2020 10:51 AM PST

    Ledger Nano X questions

    Posted: 10 Nov 2020 10:14 PM PST

    Hi i been researching wallets and I hear alot of good things about the Ledger Nano X wallet. Im most likely going to buy that wallet. For the people that have the nano X how do you like it and is it worth the money? Also when i want to sell my coins, if they are on the nano x, i wouldnt send the coins back to coinbase and sell it on coinbase right? Thank you!!

    submitted by /u/SlimSpaghetti
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    Hedge fund manager Stanley Druckenmiller is the latest big name legacy investor to join the Bitcoin ranks. Who will be next?

    Posted: 10 Nov 2020 05:30 AM PST

    China’s hashrate dominance in Bitcoin mining is decreasing, while countries like Kazakhstan and Iran are on the rise.

    Posted: 10 Nov 2020 01:51 AM PST

    OpenNode is hiring a developer!!

    Posted: 10 Nov 2020 03:53 PM PST

    Gaming giant Capcom forced to pay Bitcoin ransom to secure Employee and Customer Information

    Posted: 11 Nov 2020 04:19 AM PST

    Can't access my Coinbase coins

    Posted: 11 Nov 2020 04:08 AM PST

    Greetings. Just a bit of help to make sure I'm not missing something else obvious, but I got a new phone, and wanted to install and log in to Coinbase.

    Couldn't remember the password, did a reset, it obviously asks for 2FA, which is on a previous handset. Get previous handset, open authenticator app, and the 2FA number is invalid according to the Coinbase app on my new phone.

    Shit.

    The Coinbase app on the original phone has now logged out, and now I can't access my account/coins on either of these devices.

    Coinbase are now asking for identity to reset my password without 2FA, and I'm wondering whether it's worth doing this, or whether anyone here has had experience with another way to do this.

    Now, what I'm thinking is, provide what they ask for, then just move the coins off Coinbase (which was on my mind to do anyway) and keep an offline wallet instead. It's not like I'm spending them on anything right now.

    Anyway, advice will be welcome.

    submitted by /u/motophiliac
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    Dr. Doom softens stance on Bitcoin, admits the potential of the cryptocoin

    Posted: 11 Nov 2020 12:10 AM PST
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