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    Bitcoin Daily Discussion, December 01, 2020

    December 01, 2020

    Bitcoin Daily Discussion, December 01, 2020

    Daily Discussion, December 01, 2020

    Posted: 30 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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    BITCOIN HAS HIT A NEW ALL TIME HIGH!

    Posted: 30 Nov 2020 06:52 AM PST

    Let it be known that on this day, Cypher Monday, 11/30/20, at approximately 10:15 AM, Eastern time. EVERY Bitcoin Hodler in the world had turned a profit. Congratulations.

    Posted: 30 Nov 2020 04:36 PM PST

    This may get locked, but at (around) 10:15 AM today, when Bitcoin hit it its All-Time High of $19,857, for that glorious moment (and probably more), every Bitcoin hodler in the world, man or woman, new or old, wealthy or humble, had profited. No one left behind.

    A credit to anyone who ever had the balls to buy a Bitcoin and hang the **** on no matter what happened.

    Also if anyone knows the exact time please tell me.

    (BTW I know there be some exchange where it didn't break its All-Time high so we might have to wait for it to have broken its high everywhere)

    submitted by /u/EGarrett
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    Bitcoin Won’t Make You Happy

    Posted: 30 Nov 2020 07:34 PM PST

    Just a reminder that similar to any form of money, Bitcoin can't buy happiness. Instead of spending all of your time refreshing charts, reading Reddit posts, scrolling through crypto Twitter, or going down YouTube rabbit holes spend more of your time on things that will truly make you happy. Relationships, accumulating wisdom, learning new skills, creating art, improving your health, meditation, and new life experiences.

    Also, HODL.

    submitted by /u/tallross
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    Bitcoin weekly summary...

    Posted: 01 Dec 2020 12:53 AM PST

    Now that we've finally broken ATH can we please shut the f up and drive this baby to 100k.... quietly?

    Posted: 30 Nov 2020 03:38 PM PST

    So we all have a bit more time to stack sats. C'mon guys, we all know the fun is over when fomo is around.

    submitted by /u/sirkloda
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    Coinbase is closing my account and customer support is not replying to my emails about my missing funds.

    Posted: 30 Nov 2020 05:52 PM PST

    So, I have been using Coinbase for over 3 years now and always enjoyed using their platform, but I was never expecting what happened to me with what I thought was one of the most trusted crypto exchanges in US.

    Long story short, I had made a transfer from KuCoin to Coinbase with USDC and apparently they do not like their customers using Hong Kong exchanges, so they send me an email that they are closing my account. I logged into my account immediately and was re-directed to a page where I had to transfer all of my funds outside of coinbase so they can proceed with closing my account, but only to find out 50-60% of my funds are missing.

    I emailed coinbase support and they replied that I had to login to my coinbase pro, because the rest of my funds were stuck there and I have to transfer them on my own to my coinbase wallets. The problem is anytime I login to my coinbase pro account, it redirects me to the same page always where I have to transfer my funds to other wallets and it does not show my missing funds on there.

    I explained to them what is happening and they kept replying back with almost the same emails as the previous ones "please login to your coinbase pro account" its like they are not even reading my email.

    I have sent 8 emails in which I explain to coinbase support what they have to do as I had found other users to be with the same problem as mine when their account were closed. Basically, "if your Coinbase account gets closed and you have some funds (crypto or fiat) on Coinbase Pro, chances are you won't be able to withdraw those funds right away. They have to manually transfer the funds to your Coinbase account so you could withdraw them."

    The last email I received from coinbase was 12 days ago on 11/18/2020 and since then I had sent about 7-8 emails asking about my funds. They have caused me so much stress, I cant even explain it. Its traumatic when 50-60% of your investments are held by a company that is not responding to your questions for 12 days and here I am a believer in Bitcoin and crypto that one day we will make a better world, but if these kind of companies are running crypto, then we are in trouble. At least if I have a problem with my bank, there is always someone to help me. Coinbase support on the other hand, its like if there is a problem, don't expect coinbase support to help you, you are on your own.

    I have filed a complaint with FDIC, since most of my funds were in USD and I really did not want to go this route, but at this point I have no idea what else to do.

    submitted by /u/mishxx88
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    Who else is addicted to checking the price at least five times every hour?

    Posted: 01 Dec 2020 12:58 AM PST

    ������ WE JSUT PASSED THE ATH OF 2017 !!!!! CHEEERS HODLERS ������

    Posted: 30 Nov 2020 06:51 AM PST

    The rest of the exchanges have now followed

    Posted: 01 Dec 2020 03:10 AM PST

    She has no idea how high I can fly.

    Posted: 30 Nov 2020 04:16 PM PST

    v5.6.7 introduces Coin Control - BlueWallet

    Posted: 01 Dec 2020 03:07 AM PST

    German Magazin "Der Spiegel" has a positive article about Bitcoin!

    Posted: 30 Nov 2020 10:11 PM PST

    WARNING: Paxful is aggressively KYC and doesn't warn users until AFTER depositing bitcoin their funds will be locked until verification is completed

    Posted: 30 Nov 2020 02:43 PM PST

    Just posting to warn everyone about paxful. I literally found it on a list of KYC friendly exchanges and sadly that couldn't be more far from the truth

    AFTER buying bitcoin through paxful, your funds will be locked until KYC is completed. There is no warning of this beforehand. If you are unable to complete the KYC verification your funds will be permanently locked in paxful. You cannot even trade them back to your original form of payment

    The KYC is some of the most aggressive I have ever seen, involving submitting photos of government documents as well as a live 'video selfie' of your face for facial recognition purposes

    I'm sure paxful makes quite a killing here, with crypto users that tend to value anonymity choosing to take a loss rather than have a three dimensional profile of their face in some for profit database

    Do not use paxful. Do not support this business. This is literally the scummiest practice I have encountered since I began using bitcoin in 2013

    Edit: Just because I know someone is going to ask, KYC = know your customer, which is a US government initiative for corporations to know who their customers are for tax/criminal investigative/surveillance purposes

    submitted by /u/fr33dom35
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    Soon enough

    Posted: 30 Nov 2020 01:26 PM PST

    The Hottest Debate on WallStreet Is Buying Bitcoin Over Gold - Bloomberg

    Posted: 30 Nov 2020 10:57 PM PST

    All of us, to everyone.

    Posted: 30 Nov 2020 10:08 AM PST

    Bitcoin reached the new ATH after 1079 days and 84% correction

    Posted: 30 Nov 2020 12:56 PM PST

    New Australian all time high, 27 big ones.

    Posted: 01 Dec 2020 02:52 AM PST

    Warning: Avoid Ledger hardware wallets

    Posted: 01 Dec 2020 03:54 AM PST

    I'd like to tell you about the experience I had with the Nano Ledger X. All in all, it was so bad that I decided to get a Trezor and never look back. Should have definitely done this in the first place, but the Nano X looked nice on paper. The bad thing is, I will never be able to leave this experience behind me since my data is now to be found on the internet.

    -Their software is a pile of crap. Bluetooth pairing issues with the Nano X, price doesn't show correctly, price history has gaps which show wrong pricing

    -It's highly inappropriate that they have advertisement to buy cryptos from their partners on their app; What are you? Instead of creating a scummy side business try to fix the user experience first or properly secure your customer database.

    -Nano X broke after literally using it five times (within 1 1/2 years). They won't replace it without getting my device back which still contains my private key and can't be reset. I've asked them to send them proof of destruction but they won't give in. Oh btw, only took them 15 days to answer my support request.

    -Lost my data during the data breach. How can you trust a company with your assets if they aren't able to properly secure a simple database (and the data shouldn't have been stored in the first place)? And fuck you Ledger for leaking my phone, email, address and name into the darknet. Now everybody knows I own cryptos.

    Honestly, I've lost complete trust in Ledger. They seem to have a very wrong attitude. I wouldn't be surprised if their RNG is flawed as well.

    tl;dr

    I highly regret being a Ledger customer because of their shitty software, their subpar hardware and the fact that they didn't even manage to secure a database containing customers private information.

    submitted by /u/B1ggusDckus
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    The perfect time to look at this video again! Send it to all saying bitcoin will crash again.

    Posted: 30 Nov 2020 12:14 PM PST

    I'm sick and tired of people saying Bitcoin is "risky." Bitcoin is one of the safest investments in the world.

    Posted: 30 Nov 2020 06:20 PM PST

    Now don't get me wrong: bitcoin is volatile, but so is the stock market, or even bonds. I've held bonds that lost 60% of their value overnight. Ask the bondholders of Bear Sterns how it all worked out for them.

    With that in mind, bitcoin is everything but risky. In fact, USD is far, far riskier than BTC. Over time, the USD has lost 99.9% of its value. My grandfather earned $150 per week and he raised a family of four with no problems, his wife never worked. Today what can you buy with $150? Today, both parents work and they can barely sustain 1-2 kid.

    Hell, more recent example: I bought my original iPhone for $599. I thought it was a complete ripoff. Today, the cheapest recent iPhone - not even the premium one - starts at $999. 90% inflation over 12 years. See what you can buy today for $1 vs. just ten years ago. I clearly remember McDouble were $1.19 here, now they're $2.49. Money is losing value year after year. Hell, we just came with a $350G deficit here and we are not even done with the virus. This is money they are printing, printing, printing, and handing to their buddies.

    Bitcoin is probably one of the safest investments in the world. Even with gold, you have to pay a storage+insurance fee AND even if you store it in a "safe" place it could still get stolen from you under some circumstances (see: https://archive.is/8XBqS). Not even talking of getting robbed at home, etc.

    Also, gold has barely gone up at all. It's at the same price it was 10 years ago, pays no dividends, etc. Oh and good luck trading your gold fast - my bank charges a 10% fee over spot price, eBay charges you 12%, etc. Gotta mail it, insure it, etc etc etc.

    Bitcoin? A block is printed every 10 mins. 21M max limit. In fact, if every millionaire wanted to buy one bitcoin, well, they couldn't. Sure, the graph might look volatile, and it's not the best if you need to quickly access capital, but if you do six-months smoothed average, it's actually relatively stable. Bitcoin has always gone up on average, with the occasional dip of course, but long-term, it's not insane to believe it will keep going up.

    People think Bitcoin is a scam? Paypal doesn't share that view. Neither does square, several hedge funds manager. The big players with thousands of S19 don't seem to think bitcoin is a scam, neither. People in Venezuela, India, China neither.

    Even at a market cap of $350B, of which a certain portion is lost for good for sure, bitcoin is ridiculously underpriced. Paypal is valued at $250B and that is one company in one sector; even in payment transactions, you have TONS of big players.

    With the way bitcoin is used now - poker website, intercountry trades, even lightning network - I refuse to believe bitcoin is only worth $350B right now. Just as a store of value - a category in which it crushes gold and obliterate USD - bitcoin is worth at least $1T. Might sound a lot, but $1T is nothing compared to the global economy ($80T per YEAR).

    Bitcoin is safe, protected by the laws of cryptography. Maths. It's literally the best store of value there ever was. On average, bitcoin has gone up around 8% per month (average of all monthly returns) in the last five years, and way more before that.

    Even at $20k, BTC is a bargain, but I wrote this to insist that bitcoin is NOT risky. It is volatile, but something volatile can go both up or down. Tesla is volatile, do you hear anyone complain about it?

    Long-term, bitcoin is extremely safe. You are guaranteed there won't be more than 21M (no guarantee on USD or even gold!), that it will always be tradeable (as long as one person is in bitcoins, it lives) AND I haven't even talk about growth/adoption, more and more people are getting in bitcoins every day (Paypal a few weeks ago!), increasing demand, while supply remains the same (and not even that - cuts in half every four year).

    Bitcoin might crash, and it has, but it always recovered higher. Proof: today. Bitcoin was manipulated down to $3k, and here we are, back at it. It didn't die.

    Bitcoin is a genius invention, like the wheel, electricity, the internet, etc. It is THE internet money now. I use (send, buy, trade, receive) bitcoins daily and it's absolutely great. To see holding bitcoins as "risky" is having the wrong mentality, period. Holding USD, while the government does whatever it want with your dollar, is far more risky in my eyes.

    submitted by /u/graydogstudios
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    Lil Bubble - Never Ever (selling back to tether)

    Posted: 01 Dec 2020 02:25 AM PST

    �� Pizza Hut Venezuela Now Accepts Crypto Payments

    Posted: 01 Dec 2020 01:58 AM PST

    International restaurant franchise Pizza Hut has begun accepting cryptocurrency as a form of payment in Venezuela.

    In an announcement on Saturday, digital assets firm CryptoBuyer said it has become the food chain's payments partner in Venezuela.

    Customers can make orders for food with bitcoin, dash and CryptoBuyer's own token, XPT.

    https://www.coindesk.com/venezuela-pizza-hut-bitcoin-dash

    submitted by /u/BitcoinWide
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    We're just $100 away from $20,000. Brace yourselves!

    Posted: 01 Dec 2020 03:15 AM PST
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