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    Bitcoin Daily Discussion, January 24, 2021

    January 24, 2021

    Bitcoin Daily Discussion, January 24, 2021

    Daily Discussion, January 24, 2021

    Posted: 23 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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    Sent BTC remittance to family in Argentina. The future is here.

    Posted: 23 Jan 2021 11:28 PM PST

    Family member's landlord wanted hiked rent to double what she was paying. He did that in the middle of a pandemic; her savings were depleted, and was facing exorbitant prices to move into a new place. PANIC.

    BTC was made for this, I thought, so I offered to help with the cost of moving. When she said yes, I suggested using BTC.

    Helped her open an account with a local exchange. It took a total of 30 minutes until all transactions were completed. By the next morning, she had the $ in her bank account, in the local currency. It was Saturday. The cost for all this, $2,30 USD.

    I knew this was possible, but I couldn't believe it. She had never heard of BTC, and she couldn't believe it. Now we both know, that if she ever needs financial help, it is literally 24 hours away, at almost no cost.

    Consider the alternatives:

    • A wire transfer costs $25 USD. Would take days/weeks.
    • With other services like Western Union, a transfer of $900 could cost $76.
    • When she receives the $ in USD, she also faces local banking restrictions on how much she can use/withdraw per month. (Argentina always has a dollar liquidity crisis)
    • Skipping USD, the banks, and other traditional intermediaries is cheaper, faster, freer.

    With lightning it will become even more ridiculous. And when we can pay for things in BTC, it will be beyond ludicrous. But what BTC allows us to do right now, is already pretty cool.

    submitted by /u/ting_jun48
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    I was trying to explain Bitcoin to my Granny over Christmas, so for my birthday she "went online and bought a Bitcoin" for me. I don't have the heart to tell her.

    Posted: 23 Jan 2021 04:34 AM PST

    Today starts the day on which I exchange my bad habits for bitcoins

    Posted: 24 Jan 2021 02:33 AM PST

    I spend ~200/300€ monthly on weed.Smoking for 10+years, for 7years daily.

    I don't wanna know how much I could have earned if I invested that money into something useful rather damaging my health.From this day, I will invest that money monthly into Bitcoin (DCA'ing), also I try to buy more on dips >10% and HODL until the next bullrun.

    Wish me luck, see you in a few years

    submitted by /u/anon43850
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    Ledger leak expands to 730K full names, 625K phone numbers and 540K home addresses when combined with other data leaks.

    Posted: 23 Jan 2021 04:37 PM PST

    First Shop to accept Bitcoin Payments in Bahrain. Restaurant is a small Takeout place called New York 973 Burgers and Hotdogs.

    Posted: 24 Jan 2021 01:04 AM PST

    Why aren't you running a node ?

    Posted: 24 Jan 2021 03:28 AM PST

    Serious question, why ?

    We're all familiar with Not your keys, not your coins , but many seem to forget Not your node, not your rules. The nodes are what keep the rules and miners in check. If you're using someone else's node to validate blocks with your transactions, you're basically trusting the rules that that node chooses to enforce.

    In addition to that, running your own node increases your transaction privacy. You're not letting third parties know which transactions you're interested, i.e. every time you lookup your transaction on Blockcypher, Blockstream etc., you're linking your IP or PC-fingerprint to a specific transaction in their logs.

    I do realize that some people won't be able to afford the hardware, though it is getting cheaper to get, and others have connectivity issues. This isn't directed at those people, but at those who have the ability to do so. It's becoming increasingly easy to run your own node, there are some good projects out there which basically do it for you.

    If I'm missing any other projects, let me know and I'll had them to the list.

    submitted by /u/twistdafterdark
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    Michael Saylor sponsoring conference: Bitcoin for Corporations

    Posted: 23 Jan 2021 03:24 PM PST

    Came across the link on youtube when interviewed by CNBC (Michael Chad Saylor buys the dip). He said thousands of participants from corps and will be providing his playbook. The link is to Microstrategy website listing event content and sponsors. Probably watch youtube first for context of conference.Bitcoin For Corporations

    submitted by /u/GGDD-MMEE
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    Crypto helped me to stop gambling

    Posted: 23 Jan 2021 01:36 PM PST

    I know getting into crypto market is also gambling, but much better. I occupy myself with technical analysis, research, lots of reading. I just think about how its much better to put my money into crypto rather than slots. Crypto is long-term and slots are neither short-term or long-term.

    submitted by /u/ivhano7
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    The first Bitcoin-Lightning card payment ever??

    Posted: 23 Jan 2021 08:24 AM PST

    How To Get Your Bitcoin Off The Exchange (2021 edition)

    Posted: 23 Jan 2021 10:35 PM PST

    Countries where bitcoin is trending on google more than America (there are more than you might think).

    Posted: 23 Jan 2021 08:10 PM PST

    After a bit of research I found the following countries are already past 2017's ATH on google trends for searching the term "bitcoin":
    turkey
    venezuela
    Brazil - close but no cigar
    Mexico
    Argentina - This is just a massive skyrocket right now...

    However, when we compare the search trends to countries that have better economies and standards of living (per capita)...
    South Korea - after translating to korean: https://i.imgur.com/KGAgdDM.png
    Japan - had to translate "bitcoin" to Japanese. Got a different result here: https://i.imgur.com/DsGeym6.png
    singpore - financial hub + English is an official language.
    Hong Kong - Financial hub + English is an official language

    EDIT: feel free to do more digging on various Latin-American countries as you please. to be honest, I've noticed the exchange rate on many of them has closed to doubled against the USD in the last decade.

    submitted by /u/sgtslaughterTV
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    Faketoshi has now completely lost it and threatens to go after bitcoin-core developers and all people using the name Bitcoin

    Posted: 24 Jan 2021 03:33 AM PST

    Entropy experts: is this offline seed generation method sound?

    Posted: 23 Jan 2021 10:03 PM PST

    Bitcoin's Volatility Is Vitality - Michael Saylor

    Posted: 23 Jan 2021 06:12 PM PST

    I think this belongs here, never forget

    Posted: 23 Jan 2021 05:32 AM PST

    How long will you hold bitcoin for?

    Posted: 23 Jan 2021 06:47 PM PST

    Im looking at a 10 to 15 year time frame and hopefully retire in my 40s. But I hold less than 1 btc, so maybe 20 years realistically.

    submitted by /u/Hnel11
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    Bitcoin Hash Unaffected by Chip Shortages and Blackouts Across Iran

    Posted: 24 Jan 2021 02:40 AM PST

    Cheers to the guy buying 30 sats at a time on Gemini, you are the real hero

    Posted: 23 Jan 2021 10:51 PM PST

    Keep stacking

    submitted by /u/Phil_Ivey
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    Why does most crypto experts say that it is not a good idea to store the cryptocurrency on an exchange wallet?

    Posted: 24 Jan 2021 03:56 AM PST

    I wonder how my man is doing now...

    Posted: 23 Jan 2021 11:18 PM PST

    "Bitcoin - I invested 40K into BTC over the last few days. Here is why" https://www.reddit.com/r/Bitcoin/comments/1qhaww/i_invested_40k_into_btc_over_the_last_few_days/

    40k in bitcoin.. 7 years ago... this dude has to be a billionaire by now (if he kept hodling) ??? Too lazy to do some math right now since it's the middle of the night..

    submitted by /u/trannygranny17
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    OP_CAT and Schnorr Tricks I

    Posted: 23 Jan 2021 02:50 PM PST

    Coinbase now has >43million users

    Posted: 23 Jan 2021 07:02 AM PST

    Sometimes you have to take a step back

    Posted: 23 Jan 2021 08:27 PM PST

    Hello friends!

    Things get wild in this space, there's just so much information and media thrown around, it's easy to get overstimulated.

    But we should always take a moment to reflect on the once in a several lifetimes situation we find ourselves in. Bitcoin is a real thing, we found it and it's happening :)

    Whether you have 0.001 or 100 BTC, well done everyone :) We're here, it's real.

    What a world. Lets fucking go!

    https://soundcloud.com/ricsivan/gemini

    submitted by /u/Parched-Mint
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    Mayor of Miami Is Building Out His Cryptocurrency Team - Revealed a few details about the city’s plans yesterday—with big announcements coming next week.

    Posted: 23 Jan 2021 09:04 AM PST

    Software for trading by time

    Posted: 24 Jan 2021 02:34 AM PST

    I am currently looking for a software or platform that allows me to buy bitcoin at a certain time and sell it at another time. Does anyone know of a platform or software that has this feature?

    submitted by /u/rk2100
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