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    Bitcoin Daily Discussion, December 02, 2020

    December 02, 2020

    Bitcoin Daily Discussion, December 02, 2020

    Daily Discussion, December 02, 2020

    Posted: 01 Dec 2020 11:01 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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    I certainly didn’t expect to see a headline like this from mainstream press.

    Posted: 01 Dec 2020 04:29 PM PST

    A Moment of Thanks...

    Posted: 01 Dec 2020 11:18 PM PST

    I just wanted to take a moment to say thank you to all of the developers, cryptographers, mathematicians, computer scientists, repo-maintainers & beta testers who, whether setting new all time highs, or record lows, continue to give up their time to voluntarily contribute to the growth and betterment of Bitcoin. I won't name names, but there are a number of you here, and I just wanted you to know, we appreciate you.

    submitted by /u/po00on
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    Bitcoin users when the price drops before almost hitting 20k :

    Posted: 01 Dec 2020 07:21 AM PST

    Head of world’s largest asset manager says bitcoin can possibly ‘evolve into a global market’ asset

    Posted: 01 Dec 2020 08:10 PM PST

    New Bitcoin Christmas ads at Zurich mainstation, Switzerland - went up today!

    Posted: 02 Dec 2020 01:05 AM PST

    Hold!

    Posted: 01 Dec 2020 06:09 PM PST

    Gemini Donates $50K to HRF to Fund Bitcoin Devs in 2021

    Posted: 02 Dec 2020 03:01 AM PST

    Bitcoin Thug Life

    Posted: 01 Dec 2020 02:27 PM PST

    XBT

    Posted: 01 Dec 2020 01:20 PM PST

    I've aways wondered why some exchanges list Bitcoin as BTC and some as XBT. Today I decided to spend 10 seconds to find out:

    Being that Bitcoin is decentralized, there is no standard, nor governing body, to dictate what notation should be used for it. Nonetheless, "BTC" has been the generally accepted abbreviation for Bitcoin stemming from the early days of Bitcoin.

    "XBT" is a new abbreviation for Bitcoin that is starting to come into use and reflects its growing legitimacy as an international currency.

    The abbreviation "XBT" comes from the International Standards Organization (ISO) that maintains a list of internationally recognized currencies. The standard dictates that if a currency is not associated with a particular country, it should begin with an "X", hence "XBT". Another example of this is the abbreviation for gold, "XAU".

    https://support.kraken.com/hc/en-us/articles/360001206766-Bitcoin-currency-code-XBT-vs-BTC

    submitted by /u/W944
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    Bitcoin feels like the Internet in 1995

    Posted: 01 Dec 2020 07:39 PM PST

    Satoshi [SAT] - a widely recognised symbol for a global currency

    Posted: 02 Dec 2020 02:03 AM PST

    Satoshi [SAT] - a widely recognised symbol for a global currency

    The fact that we are going to use the term ''Satoshis/sats'' instead of ''Bitcoins'' in the upcoming years for accumulation, payments & other Bitcoin transactions leads to a necessity for a widely recognised Satoshi symbol.

    https://preview.redd.it/e3rpdi95zq261.jpg?width=2084&format=pjpg&auto=webp&s=bcdc9df5779bf608f1a509ff383813a426161b6e

    What's a more convenient sign to use other than the classic S symbol - the origin of which is still a mistery (as is Satoshi Nakamoto), yet everyone knows about it and drew it at least once when they were bored.

    submitted by /u/julianbp1
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    Let’s start the day with a nice flat white

    Posted: 02 Dec 2020 04:01 AM PST

    CEO of World’s Largest Asset Manager Says Bitcoin Can Possibly ‘Evolve’ Into Global Asset

    Posted: 01 Dec 2020 08:50 PM PST

    Bitcoin can bring about some depression

    Posted: 01 Dec 2020 10:00 PM PST

    I don't know about some of you guys, but after taking the trip down the rabbit hole that started out of Bitcoin I kind of have this wicked depression sometimes.

    I feel like all the people who grew up in the past 30 years got completely screwed in life. Quite possibly every shit thing wrong with the world and society stemmed from Nixon in 1971.

    So now what, we have to waste many more years in life to fix money and the road to that is going to be shitty because everyone has been too god damn brainwashed from the establishment that all they're going to do is be in denial.

    Then corporations and governments are going to try their best to regulate and leech with greed because they won't want to lose power.

    I feel like we were born into some twisted form of slavery with the illusion of being free.

    This is probably going to take so long to fix and I'll probably be close to my deathbed by the time of mass adoption. I know things are moving well and all, but it's still a long road. I'm not even that old either.

    submitted by /u/Raverrevolution
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    Important message to all upcoming bitcoin Holdlers

    Posted: 02 Dec 2020 03:32 AM PST

    Please be careful in the current volatile market

    Posted: 01 Dec 2020 04:38 AM PST

    Having observed this sub for a few days, I would like to point out to all newcomers five things:

    • Most of us here, myself included, hold some bitcoin, and thus are incentivised to convince others to buy and hold, because that pushes the price up. And so: do not naively believe advice you receive here.
    • The same is true of famous people like the Winklevosses, funds trying to sell bitcoin products to other investors, etc.
    • Especially, be careful of the current high prices. BTC has only been above $13k for a couple of months now. Think about whether you want to be stuck at prices less than you bought for for months or years.
    • The more exuberant everyone becomes, the higher the price forecasts. A few days ago, punters were claiming $300k is possible, now you hear $1mn, etc. Do not believe this self-serving hype for the reasons I outlined in my first two points. No one knows what's going to happen. If anyone was absolutely sure the price would go that high, it would not be whipping around at $19k because they'd be buying everything.
    • For the same reasons, don't let anyone here convince you that contrarian views about bitcoin are invalid. If you want to invest, you have to look at all sources of information about future prices and make up your own mind by evaluating the arguments. Be careful of falling into the trap of only listening to sources saying things that you want to believe (for example, because you want to become a millionaire without working for it; not judging - I'm in the same boat). This idea of considering who has a vested interest and who does not is an important criterion when evaluating people's views.

    Please everyone else stay calm. I'm not saying BTC is a scam or whatever. I'm just telling people arriving at this sub not to trust you, for reasons you can't argue against: your vested interest. That is a fact, not a speculation about the current or future state of bitcoin. I genuinely hope we all make a ton of money, but I don't want it to be on the backs of marginally informed people being suckered into buying at record prices.

    EDIT: Okay, thank you everyone for engaging. I've been typing in here for hours now, trying to reply all around. Need to be go be productive now. Probably won't reply to everything anymore. Might add a few replies later to particularly interesting comments.

    Special thanks to givers of those little badges. Feeling appreciated :)

    FINAL EDIT: Wow so many little badge gizmos, I feel like a boy scout. Thank you kindly, all! It makes it worth the random abuse in some comments. Also, thank you to commenters with interesting things to say for your engagement. As it gets late I'm finding it harder to stay kind and positive in the face of the unwarranted abuse, so I'm going to leave this thread now while I have a light heart and still feel like I've done some good.

    Be well everyone, and happy gains.

    submitted by /u/OneCleverPuppy
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    A New Visa Credit Card Offers Bitcoin Rewards Instead of Miles or Cash

    Posted: 01 Dec 2020 09:02 AM PST

    Who else was just staring at their screen waiting for the price to make that final push from 19.9k to 20k and then saw it plummet to 19k in 10 minutes?

    Posted: 01 Dec 2020 12:27 PM PST

    I realized something. In the last years, there were thousands of predictions about Bitcoin. And ALL of them were wrong.

    Posted: 01 Dec 2020 08:02 PM PST

    The title. I read at least thousands of predictions about Bitcoin and its price in the last 3-4 years. Some said Bitcoin will reach $50,000, some said it will go to zero, some predicted many different movements. And... every single of them were wrong. Especially anything with a "technical analysis" (triangles, candles, resistances) were completely off. Now you read a lot of predictions as well. "BTC will reach $30k then bounce..." and these predictions will almost certainly become totally wrong as well. So I came to the conclusion that there is simply no way to predict Bitcoin or any other crypto. We have to wait and see :)

    submitted by /u/Alive-Lecture-7408
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    PayPal reports high interest in trading Bitcoins, confirms the latest survey

    Posted: 02 Dec 2020 03:21 AM PST

    Tales from the Crypt: #211: Dr. Saifedean Ammous

    Posted: 02 Dec 2020 03:51 AM PST

    $7.4 Trillion Blackrock CEO Larry Fink & Former Bank of England Chair Mark Carney Talked Bitcoin at The Council on Foreign Relations - Dec 1st 2020

    Posted: 01 Dec 2020 10:17 PM PST

    CEO of BlackRock says Bitcoin can potentially “evolve” into global asset

    Posted: 02 Dec 2020 04:32 AM PST

    1/5 of all paypal users have already dabbled in bitcoin and over 65% would use to transact eventually with paypal merchants

    Posted: 01 Dec 2020 11:05 AM PST
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