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    Bitcoin Daily Discussion, December 08, 2020

    December 08, 2020

    Bitcoin Daily Discussion, December 08, 2020

    Daily Discussion, December 08, 2020

    Posted: 07 Dec 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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    BULL BULL BULL: MicroStrategy Raising $400M to Buy More Bitcoin

    Posted: 07 Dec 2020 01:22 PM PST

    Bitcoin - Some Deluded Thoughts

    Posted: 08 Dec 2020 12:28 AM PST

    I first got into bitcoin in early 2017, and since then, I haven't been able to stop consuming Bitcoin news and information.

    It feels like I'm part of a very privileged and elite club, that knows something that 99.9999999% of the world is ignorant about, but will soon be made aware of.

    Bitcoin is like clockwork. It's the most elegantly designed piece of software this world has ever witnessed. The price graph, once you zoom out and look at it as a whole, looks like something algorithmically generated, with perfectly timed market cycles. It's beyond mere elegance. It's magic.

    The more I think of it, the more I wonder how Satoshi Nakamoto could've had such vision and foresight. A truly enlightened human being(s). Genius beyond comprehension.

    The fact that it's an unknown entity, and that his name literally translates to "Central Intelligence", really made me entertain the possibility that we're dealing with something that's beyond conventional lines of reasoning.

    There's a part of me that likes to entertain this ridiculous conspiracy idea, that it was designed by a group of very enlightened individuals, who are trying to steer society in a certain direction. A group of individuals that knew exactly what they were doing. That knew what was going to happen, once they introduced it to the world.

    A highly calculated chess move, made at a very precise point in time, during financial collapse

    Anyway, those are my deluded thoughts.

    We're going to 5MM$ per BTC boys! To the moon!

    submitted by /u/dogefellowship
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    BREAKING NEWS: MicroStrategy plans to sell $400 million in convertible senior notes so that it can buy more Bitcoin. Read the full story here:

    Posted: 07 Dec 2020 02:06 PM PST

    I know this has been mentioned for years, but to everyone, please be careful! It may seem trivial but these kinds of scams can be very enticing to new hodlers. The allure of quick and easy gains can be very enticing, but please don't fall for these idiotic scams. You will lose all of your money.

    Posted: 07 Dec 2020 11:58 PM PST

    Someone transferred $165,000,000 in #bitcoin and paid a fee of 0.00006520BTC or about $1.20 One dollar and twenty cents. That's a transaction fee of 0.00000072% No 3rd party needed to facilitate this. Nobody could stop it. Nobody can reverse this.

    Posted: 08 Dec 2020 03:23 AM PST

    Old people actually love tech

    Posted: 08 Dec 2020 12:56 AM PST

    Just had an 84 year old tell me Bitcoin is replacing money like computers replaced typewriters. He absolutely hates typewriters. He was so fed up of the noise, getting ink on his hands etc. He does not understand the senile old bastards who are nostalgic for that shit (his words 🤣).

    Sometimes older people appreciate tech way more than the ungrateful young'uns.

    submitted by /u/disciplinedhodler
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    Winklevoss Twins confident that Bitcoin’s market cap will surpass Gold’s

    Posted: 08 Dec 2020 01:54 AM PST

    Bitcoin vs U.S Dollar

    Posted: 08 Dec 2020 02:04 AM PST

    "Today I learned the dollar has lost 99.93% of its value since 2013 (relative to Bitcoin)." -Edward Snowden

    Posted: 07 Dec 2020 06:18 AM PST

    If BTC’s price goes to $500k+, then it won’t matter if you bought at 17k, 20k or 25k, etc.

    Posted: 07 Dec 2020 09:58 AM PST

    Furthermore, timing the market is impossible. There is no way to determine whether this is the last opportunity to buy under 20k, or if there will be a future opportunity to buy at a much lower price.

    If BTC is going to 🌙 , what's important is getting in anywhere in this price range. Don't wait to buy your seat on the 🚀 because 🎫 might be a little cheaper next month, you might miss the launch.

    submitted by /u/ProfessorPurrrrfect
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    MicroStrategy wants to raise $400 million via convertible notes and buy bitcoin with the net proceeds

    Posted: 07 Dec 2020 01:17 PM PST

    Another scammer caught and exposed. Please let's keep this up of exposing these assholes, it's the only way we will stop them.

    Posted: 08 Dec 2020 02:59 AM PST

    On Twitter, Exchange Hides Up To 10 BTC In Puzzle Image

    Posted: 08 Dec 2020 04:00 AM PST

    Open source ePaper ticker - Instructions / code on Github

    Posted: 08 Dec 2020 03:09 AM PST

    Whale Shit

    Posted: 08 Dec 2020 02:18 AM PST

    I love it when a whale takes a dump on the market because this means either of the following.

    • Whale needs to buy back the Bitcoins at some point to stay in the game causing a pump.
    • Whale never buys back, in which case they loose the ability to ever pump/dump in future, good riddance, shut the door on the way out and hope they are forever happy with the fiat.
    submitted by /u/UniqueCandy
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    Improve your security

    Posted: 08 Dec 2020 02:02 AM PST

    A few years back 2FA (two factor authentication) was a good security norm to follow. Most got apps on their mobile phones for it. Now, I think it is time to get a yubikey or something similar for 2FA. Given how scammers are getting better at getting a control of email/computer/mobiles, a physical yubikey type device is a way to upgrade our own security against an upgraded threat. Being your own bank means doing such small things every now and then. Also, change your passwords (if you haven't in the last 12-24 months), seriously.

    submitted by /u/AnAnaGivingUp
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    A little correction and then we are ready!

    Posted: 08 Dec 2020 02:46 AM PST

    Zoom Out to See the Bigger Picture, Then You’ll See That Bitcoin Volatility Is Your Best Ally

    Posted: 08 Dec 2020 01:00 AM PST

    Bitcoin for Bills - Have you ever done that?

    Posted: 08 Dec 2020 03:28 AM PST

    And by Bills - we mean gas, electricity and so on :)

    Did you know that Bitcoin can be used to pay for phone bills (for example, AT&T accepts Bitcoin), satellite dish bills (DISH company), electric and gas bills (Enercity - a german company), and of course, one can pay his credit card bills with Bitcoin and one can also pay for groceries with Bitcoin.

    https://nowpayments.io/blog/pay-bills-with-bitcoin-btc

    Have you ever paid any bills with Bitcoin?

    submitted by /u/NOWPayments
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    Where to buy bitcoin?

    Posted: 08 Dec 2020 02:28 AM PST

    Where can I buy bitcoin that doesn't take FOREVER to get into my account or FOREVER to withdraw/transfer.

    ​

    I used coinbase but lost a lot of money waiting for a transfer to clear (a week) and then to send to another wallet (4 days) is there a safe reliable quick way to buy it online?

    ​

    ​

    Edit: Im in New York in the US

    submitted by /u/sawatdee_Krap
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    An Island Nation with Bitcoin as the currency

    Posted: 07 Dec 2020 06:07 PM PST

    Hello all,

    I am here with my plan for my subreddit Reddit Nation

    If you are interested in joining a (hopefully) newly formed island nation then this is the place to be.

    I have prepared a plan that explains how we will go about doing such a task. More detailed elaborations for each component of the plan will be given at request.

    Obviously the first question is where we would have our island. I have identified places of interest. One place of interest is the Nation of Belize. Belize is a small nation with a low GDP of 2 Billion and they are selling off most of their island. Islands with 50-100 acres can be acquired for around 500,000; give or take 50,000. From the people (Government Officials) I have contacted, they are perfectly okay with this plan.

    Now here is a 5 step proposal of how this will come to fruition (I will expand on how we will finance this)

    1. Acquire the island

    2. Set up the initial infrastructure

      1. Form of Government that I propose is a constitutional monarchy
        1. Country will be run as a democracy (two chamber form of parliament)
        2. Noble titles such as Duke, Earl, Count, Lord, Baron etc will be sold off to help initially finance the island.
      2. Establishment of the Government Building
        1. For now this is where the government will convene until more infrastructure is added and the island is improved.
        2. People will be made citizens at this location
      3. Establishment of Civil Services
        1. Waste collection, Police, Social Services
      4. Establishment of a Port
        1. This will allow supplies to enter the island.
        2. This will allow for the island to participate with the rest of the world economically(I will expand on this later).
        3. The port will function as the entrance point and exit until the runway can be constructed.
      5. Establishment of Resident Housing
        1. This temporary housing will be until the island can be developed and more permanent buildings can be put up.
        2. Resident Housing and the Government building will be set up near the port until island development is completed
      6. Set up a massive solar powered crypto mining operation to help finance further development of the island
        1. A partnership with big mining companies can be brokered to have this set up

    3. Make the Island a desirable location

      1. Set up the island as a luxury city
        1. Free housing for citizens
        2. Free healthcare for citizens
        3. Free schooling and university for citizens
      2. Build resorts and legalize gambling on the island
        1. The revenue generated from such activities will help finance further development of the island
        2. With the revenue generated from this, the island will be able to provide for the residents a luxury city
        3. The gambling industry investments will help to finance the island as well
      3. Make the island a banking haven
        1. Set up a bank on the island
        2. No KYC laws will be enforced on the island
        3. This will attract forgien investment into the island
      4. Allow cryptocurrency companies to conduct business without oversight and for miners to set up large scale operations using solar powered energy
      5. No income tax,sales tax, capital gains tax or corporate on the island
        1. Commercial businesses such as casinos, resorts, and banks will just pay slightly inflated property taxes
        2. This will help attract a lot more forgien investment as well
        3. Will attract companies to set up offices here and thus bring jobs to the island.

    4. Expand on the island infrastructure

      1. Build an airport. The islands have enough space to accommodate runways for planes even up to jumbo jets
      2. Build more free luxury housing for residents
      3. Establish schools and universities
      4. Establish libraries
      5. Establish Museums
      6. Establish a healthcare system

    5. Enjoy the luxury haven of an Island that we have built

    Now for the question of how much this island will cost and how we will get the funding

    According to my calculations (you can look at them below) it will cost us $2,600,000

    • The Island itself

      • 500,000

    • The Port

      • 200,000 to build
        • This will benefit us later when we receive forgien investments
      • 500,000 for 250 passenger ferry
        • We will budget around 100,000 for operating costs

    • Initial Buildings

      • 1,000,000
        • These buildings will be permanently built but occupied until the island is built and then will be sold off to recoup the investment.
        • Buildings include

    • Civil Services

      • Around 50,000 to purchase initial equipment and medical supplies
      • Another 100,000 to purchase ATVs
      • Another 100,000 to purchase off roading vehicles

    • Bitcoin mining operation

      • We will get the money for the operation by partnering with a large company

    • Water Purification

      • 50,000

    • Food Supply

      • We will purchase MRE's and other preserved food products for the island
      • An exact count of this cannot be made until we move further into the plan

    • Further development of the island

      • This will be financed by the forgien investments in regards to banking, gambling and tourism along with money raised from property taxes

    Now in regards to how we will raise that sum

    • We will sell off noble titles (this is why we will set up a constitutional monarchy)

      • While no price has been established yet, the titles for sale can include
        • Duke, Duchess.
        • Marquess, Marchioness.
        • Earl, Countess.
        • Viscount, Viscountess.
        • Baron, Baroness.

    • A small percentage of the island (less than 25%) will be earmarked for sale immediately. The part earmarked for sale will be part of the planned downtown district/capital and developers of this land will be allowed to build whatever structures they want and won't have the problem of jumping through hoops like zoning laws.

      • On a 60 acre island, 15 acres would be marked for sale
        • The acres on this haven of an island will be sold for 250,000 each so the island would raise 4.5 million and the sale of said acres will help kickstart the massive infrastructure of the island and provide the island with adequate funding.

    • Once the island is set up, the island will continue to profit from digital activities which will allow it to not have to charge an income tax or corporate tax

      • Digital activities include the solar powered bitcoin mining operation
        • We will partner with an existing bitcoin company for this
      • Solar powered web hosting

    • People can become citizens for a fee of $10 which will mainly go to the printing of their ID and filing in the government archives but the island will profit a few dollars off of this

    If you have made it this far, please join the subreddit for this plan

    More information to come soon, thank you.

    submitted by /u/OGKebabEater
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    Gary Vee on Bitcoin — What Bitcoin Did

    Posted: 08 Dec 2020 04:00 AM PST

    MoonTrade is a SCAM website! Don’t make the same mistake I did!

    Posted: 07 Dec 2020 11:48 AM PST

    Posting this so if someone ever searches "MoonTrade" they know not to use this shit website.

    I was looking to sell a small bit of btc and me being the moron that I am figured I would use MoonTrade since I saw a few people here on Reddit say it's great for a no-KYC anon marketplace. GENIUS!

    After getting 6 confirmations on my deposit, it was still taking ages for it to show up on my account. That's when I got nervous and started googling more. Sure enough, tons of people had been scammed on this site.

    I started to worry but after an hour I finally got the deposit. Figured fuck it the coin is in, might as well try. Trying to deal with these people using the site left me with a very uneasy feeling and a bad taste in my mouth.

    I quickly decided I should try to withdraw my coins back out and ........ nothing. My withdrawal doesn't process. It doesn't do anything. "Support" hasn't even responded in days. I put "support" in quotes cause I don't think it's even a real thing on that website. I'm convinced you are just typing into a fake chat box. My coins are gone. Thankfully it wasn't all that much. I just needed some quick cash in a bind. But my coins are gone.

    DO NOT MAKE THE SAME MISTAKE I MADE. DONT BE AN IDIOT LIKE ME!

    DONT USE MOONTRADE!!!

    submitted by /u/STRAIGHT-CASH-PICKS
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