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    Bitcoin Daily Discussion, January 23, 2021

    Bitcoin Daily Discussion, January 23, 2021


    Daily Discussion, January 23, 2021

    Posted: 22 Jan 2021 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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    Craig Wright trying to sue people sharing the Bitcoin Whitepaper is probably the least "Satoshi" thing someone claiming to be Satoshi could do.

    Posted: 22 Jan 2021 07:21 AM PST

    Michael Chad Saylor on CNBC Buys the Dip, Says Bitcoin Could Replace Gold, Flirts His Way Through Interview - Jan 22nd 2021

    Posted: 22 Jan 2021 12:27 PM PST

    I'm holding my fraction of BTC (7k worth) till the wheels fall off.

    Posted: 22 Jan 2021 07:36 PM PST

    People panic-selling while I'm about to buy more.

    Look at the long-term and not the short-term.

    submitted by /u/TroyIzAnnointed
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    Michael Saylor says Bitcoin could replace gold, bonds, the S&P and even the Dow as the primary monetary index.

    Posted: 22 Jan 2021 02:13 PM PST

    I just finished "The Bitcoin Standard" Audiobook. Everything Hal Finney said is coming true...

    Posted: 22 Jan 2021 11:50 PM PST

    We begin to see the narrative of "Digital Gold" becoming true right now. However, I strongly feel as though we are only beginning to get in to the "banks holding bitcoin" stage of things. He had even predicted that banks would be creating their own stablecoins or "self-minted" sort of stablecoins.

    EDIT: I worked for one such exchange that made their own stablecoin for the USD determined in satoshis before.

    submitted by /u/sgtslaughterTV
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    $100k loan YOLO - update 23rd Jan

    Posted: 22 Jan 2021 07:37 PM PST

    Original post: https://www.reddit.com/r/Bitcoin/comments/kkj69d/im_putting_10000_from_three_unsecured_personal/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

    That 30% drawdown saw my total bitcoin stack fall by $99,000 (From $317k to $218k). That's a huge sum of money for me to 'lose'. Especially as bitcoin makes up a very high percentage of my net worth.

    However; I'm still up on my investment, my conviction remains as strong as ever, I will not be shaken out, I'm still HODLing! I haven't decided on when to take profit to pay back the loan. I'm currently thinking around $160,000 BTC.

    I'll post again in a couple of months time. Keep stacking brothers!

    Edit: to be clear $99k drop was on my total stack. I used $90k of the loan to buy 3.547 BTC (kept $10k as cash reserve) which is currently valued at $115,600. So I am up $25,600.

    submitted by /u/BitcoinandTesla
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    The Bitcoin whitepaper has been safely hosted on BitTorrent since 2014!

    Posted: 22 Jan 2021 12:43 PM PST

    Funding 100s of Bitcoin Addresses on Paper Wallets at lowest possible Fee, Advice Requested.

    Posted: 23 Jan 2021 12:54 AM PST

    I'd like to fund say 100 unique BTC addresses with semi-random amounts of fairly small amounts of Bitcoin.

    I plan on then printing a single paper wallet that I can use as gifts/promos for clients for my business.

    Would using Bitcoin Core be the ideal way to accomplish this?

    I can write a script for the process for batch processing (create new address/random amount to fund/export the public and private keys) from Bitcoin Core into printable wallets. That isn't the issue.

    My QUESTION is how do I accomplish this at the lowest possible fee because out of say the 100 or 200 "Paper Wallets" the amount each address is funded with will be relatively low. ($4-$10; with some "lucky" wallets @ $15, $20, and one or two "jackpot" wallets at $100 or $200.

    However because 97% of the (100-200) wallets will be funded with only a few dollars worth of BTC (0.00010000) I need to keep the fee to fund low.

    Would using Bitcoin Core, funding a single address (Master Account) from one of my primary BTC addresses with say $1000 or $2000 worth of BTC, and then using the send to multiple addresses in a single transaction (all from that single address) be the cheapest way?

    Is a no fee transaction even possible these days? If not what would that fee be (approximately) to accomplish this and could I use a low fee and simply wait it out understanding it might take a day or more to get confirmed?

    How low could I possibly go?

    Sorry for the long winded question just wanted to explain why I need a low fee- I don't want to pay $2 to fund a $4 single address.

    Or is there a better way to accomplish this?

    submitted by /u/MR_PRESlDENT
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    Buying Bitcoin with Cash App - Purchase Fees & Tier Structure Explained

    Posted: 23 Jan 2021 02:41 AM PST

    Thought this might be useful information to the community. I've personally been using Cash App for almost a year and have had a truly positive experience.

    Below you can find their Fee Structure for both Purchasing and Selling Bitcoin using the Cash App "App".

    Surprisingly, Cash App has become extremely competitive offering some of the lowest fees available to purchase Bitcoin, especially on higher purchase amounts. It currently comes in less expensive than Coinbase, and while services like RobinHood offer 0% fees; Cash App unlike RobinHood, allows you to withdraw and deposit Bitcoin in and out of the App.

    The Cash App "Fee Structure" for the Purchase and Selling of Bitcoin is tiered based on the amount of the purchase. Larger purchases and sales incur lower fees.

    One FANTASTIC feature about Cash App is they do NOT charge fees when withdrawing Bitcoin from your Cash App wallet to another wallet address.

    So all you pay is the purchase fee. This alone is a huge plus in my book. If you purchase 0.00152344 in BTC and withdraw it to any external Bitcoin wallet address; 0.00152344 is received. Zero TX Fees = A+

    CASH APP FEE STRUCTURE FOR PURCHASING BITCOIN / SELLING BITCOIN

    Purchase funding source does not affect fee amounts. You can purchase Bitcoin using funds available within your Cash App account, a linked Bank Account, or a linked Debit Card.

    • $5.00 Fee: $0.15 / 3.09% = $14.85 in BTC

    • $100 Fee: $2.28 / 2.33% = $97.72 in BTC

    • $1000 Fee: $17.87 / 1.81% = $982.13 in BTC

    • $5000 Fee: $51.86 / 1.04% = $4948.14 in BTC

    • $10,000 Fee: $76.72 / 0.77% = $9923.28 in BTC

    • $25,000 Fee: $191.57 / 0.77% = $24808.43 in BTC

    Fees on all amounts >= $25,000 are capped at the 0.77% (Less than 1%). I tried $50,000 and $99,999. Both quoted 0.77%

    BTC LIMITS ON PURCHASES / SALES / WITHDRAWS / DEPOSITS

    Purchase BTC: $100,000 / Week

    Sell BTC: Unlimited

    Deposit BTC: $25,000 / week

    Withdraw BTC: $5000 / day up to $15,000 / week

    Bitcoin limits are based on a rolling seven day average.

    Limits may vary based on Account status / length of history with Cash App and prior BTC purchase amounts.

    submitted by /u/MR_PRESlDENT
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    MicroStrategy CEO Michael Saylor Invest $10M More In Bitcoin, Buy the Dip

    Posted: 22 Jan 2021 09:58 AM PST

    You don't need Torrent to get Bitcoin Paper, We have Blockchain!

    Posted: 22 Jan 2021 05:08 PM PST

    With txindex:

    bitcoin-cli getrawtransaction 54e48e5f5c656b26c3bca14a8c95aa583d07ebe84dde3b7dd4a78f4e4186e713 | sed 's/0100000000000000/\n/g' | tail -n +2 | cut -c7-136,139-268,271-400 | tr -d '\n' | cut -c17-368600 | xxd -p -r > bitcoin.pdf

    Without txindex:

    bitcoin-cli getblock 00000000000000ecbbff6bafb7efa2f7df05b227d5c73dca8f2635af32a2e949 2 | jq '.tx | .[] | select(.txid=="54e48e5f5c656b26c3bca14a8c95aa583d07ebe84dde3b7dd4a78f4e4186e713").hex' -r | sed 's/0100000000000000/\n/g' | tail -n +2 | cut -c7-136,139-268,271-400 | tr -d '\n' | cut -c17-368600 | xxd -p -r > bitcoin.pdf

    Without txindex, no json:

    bitcoin-cli getblock 00000000000000ecbbff6bafb7efa2f7df05b227d5c73dca8f2635af32a2e949 0 | tail -c+92167 | for ((o=0;o<946;++o)) ; do read -rN420 x ; echo -n ${x::130}${x:132:130}${x:264:130} ; done | xxd -r -p | tail -c+9 | head -c184292 > bitcoin.pdf

    From web:

    curl https://blockchain.info/block/00000000000000ecbbff6bafb7efa2f7df05b227d5c73dca8f2635af32a2e949?format=hex | tail -c+92167 | for ((o=0;o<946;++o)) ; do read -rN420 x ; echo -n ${x::130}${x:132:130}${x:264:130} ; done | xxd -r -p | tail -c+9 | head -c184292 > bitcoin.pdf

    submitted by /u/exander314
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    USA to get 1400$ bitcoin relief, I mean covid relief?

    Posted: 22 Jan 2021 02:08 PM PST

    Plan on stimulating the blockchain?

    submitted by /u/TaThaTaWay1
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    Jim Cramer Tells $731M Powerball Winner to Put 5% in Bitcoin

    Posted: 23 Jan 2021 02:14 AM PST

    Bash one-liner to get the Bitcoin whitepaper directly from the blockchain

    Posted: 22 Jan 2021 02:33 PM PST

    Someone encoded the whole bitcoin.pdf whitepaper in one giant transaction. You can use this command to recreate it. Requires a full node (pruned will do)

    seq 0 947 | (while read -r n; do bitcoin-cli gettxout 54e48e5f5c656b26c3bca14a8c95aa583d07ebe84dde3b7dd4a78f4e4186e713 $n | jq -r '.scriptPubKey.asm' | awk '{ print $2 $3 $4 }'; done) | tr -d '\n' | cut -c 17-368600 | xxd -r -p > bitcoin.pdf

    submitted by /u/imatwork2017
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    Bitcoin vs FUD

    Posted: 22 Jan 2021 06:30 AM PST

    So I got paid in bitcoin today. That was pretty cool

    Posted: 23 Jan 2021 12:59 AM PST

    Understanding Bitcoin & the 5 Axes of Power

    Posted: 23 Jan 2021 03:49 AM PST

    Anyone else feel like gollum

    Posted: 22 Jan 2021 11:58 AM PST

    and bitcoin in your precious?

    submitted by /u/demthiccthighs
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    Central Bank Digital Currencies Are an Extension of the Flaws of Fiat - The Cryptowriter Podcast #34

    Posted: 23 Jan 2021 12:23 AM PST

    MicroStrategy bought the dip

    Posted: 22 Jan 2021 05:53 AM PST

    Dear fuders... You're useless. You can't even spread the FUD properly. Please try harder, otherwise I can't buy cheap bitcoin!

    Posted: 22 Jan 2021 02:52 PM PST

    That's all.

    submitted by /u/almost_drunk
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    Bitcoin was invented during that time. Thank you Satoshi

    Posted: 22 Jan 2021 12:34 PM PST

    You cannot trust the media.

    Posted: 22 Jan 2021 07:53 AM PST

    They are just looking for headlines that get clicks. They don't understand bitcoin at all.

    submitted by /u/tzq555
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