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    Thursday, December 10, 2020

    Bitcoin Daily Discussion, December 10, 2020

    Bitcoin Daily Discussion, December 10, 2020


    Daily Discussion, December 10, 2020

    Posted: 09 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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    Need karma to contact coinbase! Please help !

    Posted: 10 Dec 2020 02:10 AM PST

    Hey guys, I'm new on Reddit and I can't contact coinbase because I need karma. I saw another person was successful getting karma for the same issue I'm having. Can you guys help me out please. It's a shame coinbase is making so many of their customers go through this smdh!

    submitted by /u/QueenLish_
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    Coinbase down again. Must be about to pump.

    Posted: 09 Dec 2020 04:50 PM PST

    Congress Says NO to Steven Mnuchin's Rumored Crypto Regulations!

    Posted: 09 Dec 2020 07:08 PM PST

    13 Lost Coins

    Posted: 09 Dec 2020 03:15 PM PST

    For the past four months I have been trying to help an elderly friend find his written key phrase at his home and office. Every room. Every desk. Every folder. Nothing. They aren't even mine but I want so badly for him to have access to them again.

    Stay organized or it'll cost you.

    submitted by /u/sheetchanger
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    Revenue officials have written to families struggling to settle bills during the pandemic and threatened to “take things you own and sell them”. They are warned that officials “can take money directly from your bank or business society accounts”. Not if you have Bitcoins!!

    Posted: 09 Dec 2020 03:40 PM PST

    Rewatched willy and the wonka factory and this hit close to home

    Posted: 09 Dec 2020 01:10 PM PST

    Bitcoin-Friendly Congressman Says 'Short the Dollar'

    Posted: 09 Dec 2020 09:13 PM PST

    Just heard a bitcoin reference on Cartoon Network.

    Posted: 09 Dec 2020 01:54 PM PST

    Never thought I'd see the day I'd hear "What do you mean you don't accept bitcoin!?" coming from a kids cartoon hahaha.

    future is bright

    submitted by /u/icanbreakthesetarget
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    MicroStrategy Reveals Pricing Details for Its $550 Million Raise - Decrypt

    Posted: 09 Dec 2020 11:23 AM PST

    Bitwise just Launched the First Cryptocurrency Index Fund to be Publicly Available to US investors. [Weighted 76% in BTC]

    Posted: 09 Dec 2020 02:44 PM PST

    I bought my child a new costume

    Posted: 09 Dec 2020 03:02 PM PST

    Bitcoin is not behaving the way it used to...

    Posted: 09 Dec 2020 12:09 PM PST

    I don't know if it's the impact of the halving or if it's the institutional demand (or both) but bitcoin is behaving very strangely. The dips are happening less often and the bulls are aggressively buying up any cheaper bitcoin. Bullish. 🚀

    submitted by /u/Coolster-crypto
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    Bitcoin Space can be lonely.

    Posted: 09 Dec 2020 10:29 PM PST

    Online I can find many people to share, talk, learn, and exchange ideas and what is news and up to date with Bitcoin and the crypto space, but in the physical real world, that is another story. My friends, peers, family, relatives, co-workers, and girlfriend find it to be boring and uninterested in the subject. Sometime you just need someone whom you can sit down face to face with and have a beer or coffee and talk about the exciting crypto space. But I found that is hard to come by. Anyone has any similar story and experience to share?

    submitted by /u/garfield6969
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    The Bitcoin Singularity theory

    Posted: 09 Dec 2020 01:28 PM PST

    As the Bitcoin network gets fed by global participants, it ends up debasing all currencies. Individuals and institutions will not want their currencies to get debased, and the only safe haven for their assets will become the Bitcoin monetary network.

    This feedback loop makes the network grow exponentially, as it feeds on the worlds monetary supply.

    The problem is that it can't just shoot up 10000000% in one run, because the existing financial network needs time to absorb it.

    So then, it retraces, and consolidates before the next 30x run. That's why we are seeing these bubbles.

    So then we have this channel of monetary energy feeding into crypto through Bitcoin as an intermediary, and some of that energy "leaks" to some of the altcoins, which causes even bigger percentage movements for some of them due to their low market caps.

    What this means, is that Bitcoin is approaching &infinity dollars as it feeds from the existing fiat system, whilst fiat will see exponential debasement

    I know this sounds insane, but if you look at the math and approach this from first principles... this is the interpretation you end up with.

    It's a black hole in cyberspace that's absorbing all assets as fast as it can, but is essentially limited by the bandwidth at which humanity can integrate this change into the system.

    submitted by /u/dogefellowship
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    JPMorgan Says Gold Will Suffer for Years Because of Bitcoin

    Posted: 09 Dec 2020 06:49 AM PST

    Meet Kronos! Open Source Bitcoin Lite Wallet.

    Posted: 09 Dec 2020 09:57 PM PST

    Contesting against my professor with an incorrect answer about Bitcoin on a test

    Posted: 09 Dec 2020 05:33 PM PST

    I am a computer science student at my university currently taking a data structures class. One of our topics were blockchain, which included the data structure and the services it provides. Naturally, Bitcoin was involved. But recently on a test, the professor had written a simple true/false question: "Blockchain allows bitcoin to be completely anonymous". I had responded false, thinking while blockchain certainly improves security, bitcoins aren't foolproof technology because of it. The question was marked as incorrect, which intrigued me enough to look into it more. Is it correct to state that bitcoin really is "completely anonymous"?

    submitted by /u/symtyx
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    Anything about Bitcoin gets downvoted, we are still early.

    Posted: 10 Dec 2020 01:33 AM PST

    What are the strongest arguments *against* the S2F model?

    Posted: 09 Dec 2020 04:09 PM PST

    For those not familiar, I'm talking abut the stock-to-flow model proposed by Plan B from early 2019 and the subsequent updates.

    I think that it does a good job of explaining (or as good as anyone else) the repeating patterns we've seen in BTC/USD around the halvings and so far Bitcoin has continued to follow the predicted pattern. Plan B suggests the next major bull run hitting ~$288k before 2024, likely late 2021/early 2022.

    The interesting paradox is that widespread knowledge of and belief in the S2F model could itself affect the price trajectory enough to invalidate the model.

    Eric Wall actually bet $1 million that S2F would be proven incorrect by 2025, but he doesn't seem to offer any real concrete arguments. If S2F is correct, his BTC value would cover the original bet anyway.

    I know general consensus is that no one can predict the future of BTC, and for the most part I agree. However, I think Plan B makes one of the more compelling arguments.

    So why do you (or someone else) think he's wrong?

    submitted by /u/WDfx2EU
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    Lawmakers Urge Mnuchin to End Rumored Wallet Rules

    Posted: 10 Dec 2020 01:29 AM PST

    [Rep. Davidson] I’m troubled by rumors that @StevenMnuchin1 plans to enact burdensome regulations on digital self-hosted wallets.

    Posted: 09 Dec 2020 04:35 PM PST

    ING Bank Opens Up About Crypto Custody Solution

    Posted: 09 Dec 2020 11:51 AM PST

    Fidelity Digital to Hold Bitcoin as Collateral for Cash Loans

    Posted: 09 Dec 2020 08:12 AM PST

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