Bitcoin Daily Discussion, January 31, 2021 |
- Daily Discussion, January 31, 2021
- When randoms from wallstreetbets find their way here
- In less than 6hrs, BTC will have sustained $30k for 30 consecutive days.
- Warning: Get your Bitcoin out of Robinhood while you still can!
- The battle for Middle Class.
- New subscribers to our Bitcoin subreddit - WELCOME ALL!
- Conventional currency
- Elon Musk’s Bitcoin timeline!
- Visa May Add Cryptocurrencies to Its Payments Network, Says CEO
- Saw this on Twitter, i want me one of these! ��
- My theory: F2Pool stabilizes BTC price till they run out of BTC. The real bullrun starts after that.
- You guys give me the strength to HODL
- THERE IS NO BITCOIN SHORT SQUEEZE - please stop asking
- r/bitcoin has flipped r/apple. Market cap next?
- Ask yourself: What do these people know that you don't
- Bitcoin will flip Apple by market cap at $120,442
- Ukraine Government To Convert Nuclear Power Plant Into Mining Data Centre - Bitcoin Maximalist
- Missing hearing this BITCOIN pump anthem? Don't worry, it is coming again in Febuary.
- BITCOIN please go to MOON !
- Michael Saylor - "People's retracement stats for Bitcoin are completely irrelevant."
- The recent fiat frenzy seems trivial for a seasoned HODLer.
- The Bitcoin moon song feat. Musk, Saylor and Back
- ECDSA is 50% of the magic of Bitcoin
- What does #Bitcoin mean to me? (A 70 year old boomer)
- 2021 will be the year of bitcoin and here is why.
- BTC 2021 Bull Market Outlook - A technical Perspective
| Daily Discussion, January 31, 2021 Posted: 30 Jan 2021 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. [link] [comments]  | ||
| When randoms from wallstreetbets find their way here Posted: 31 Jan 2021 12:06 AM PST
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| In less than 6hrs, BTC will have sustained $30k for 30 consecutive days. Posted: 30 Jan 2021 03:15 PM PST | ||
| Warning: Get your Bitcoin out of Robinhood while you still can! Posted: 30 Jan 2021 05:24 AM PST Remember when we said, "What if Robinhood started trading paper Bitcoin without holding actual Bitcoin?". This is what happens when a dishonest company needs more capital fast and the chances of your RH BTC positions being non-collateralized have literally never been higher. Further, the chances of RH failing as a company have never been higher. Look into the faces of the young CEOs who made their fortunes by deceiving retail investors and selling them out via order flow. Do you really want to let these guys hold your BTC? For the next 24 hours I will personally answer any questions that any of you may have about liquidating your RH positions and getting into a real exchange or decentralized marketplace (like BISQ) Do the right thing because it's also the smart thing and because you low key always knew you should have been [link] [comments]  | ||
| Posted: 30 Jan 2021 08:47 PM PST
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| New subscribers to our Bitcoin subreddit - WELCOME ALL! Posted: 30 Jan 2021 06:27 PM PST
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| Posted: 31 Jan 2021 02:08 AM PST
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| Posted: 30 Jan 2021 05:41 PM PST
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| Visa May Add Cryptocurrencies to Its Payments Network, Says CEO Posted: 31 Jan 2021 12:17 AM PST
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| Saw this on Twitter, i want me one of these! �� Posted: 31 Jan 2021 04:15 AM PST
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| My theory: F2Pool stabilizes BTC price till they run out of BTC. The real bullrun starts after that. Posted: 31 Jan 2021 02:48 AM PST I have been looking at the F2Pool (chinese miner) outflow in the last days: They sell a lot of BTC (more than 10000 each day) when BTC wants to go higher. They sell less, but still a lot on slower days. Basically they stabilize the price between $30000-$36000. They cannot do this for too long though, they spend 10x the daily miner rewards of the whole network each day, they will run out of BTC soon. After they run out of BTC we can have a huge bullrun. (Although I don't know how much they hold, the above chart does not contain that. Can someone help me out?) I am suprised that there is not more discussion about this. This is a huge force, much bigger than the Grayscale buys, which is going big in the media. [link] [comments]  | ||
| You guys give me the strength to HODL Posted: 30 Jan 2021 11:42 PM PST I may be bearing some Fiat loss on Bitcoin, and a past me would have panicked and exited, but a now me won't. Witnessing you guys HODL through all the thicks and thins of BTC, gives me the strength to HODL with mine. You have taught me how to have control over my own self, how to not take decisions impulsively, how to have patience, and how to have Diamond hands! I believe this trait will be helpful, not only with Bitcoin, but with life in all its glory. And I am grateful for this! [link] [comments]  | ||
| THERE IS NO BITCOIN SHORT SQUEEZE - please stop asking Posted: 30 Jan 2021 08:31 AM PST Bitcoin isn't GameStop; it will never be GameStop. We aren't here for short term profits, we are here to revolutionize the world. Please stop posting wallstreetbets style posts about Bitcoin. If you are looking to get rich quick, this isn't the best subreddit for you. [link] [comments]  | ||
| r/bitcoin has flipped r/apple. Market cap next? Posted: 31 Jan 2021 02:14 AM PST | ||
| Ask yourself: What do these people know that you don't Posted: 30 Jan 2021 01:32 PM PST
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| Bitcoin will flip Apple by market cap at $120,442 Posted: 30 Jan 2021 03:18 PM PST
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| Ukraine Government To Convert Nuclear Power Plant Into Mining Data Centre - Bitcoin Maximalist Posted: 30 Jan 2021 10:24 PM PST | ||
| Missing hearing this BITCOIN pump anthem? Don't worry, it is coming again in Febuary. Posted: 30 Jan 2021 08:16 AM PST
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| Posted: 30 Jan 2021 10:11 PM PST
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| Michael Saylor - "People's retracement stats for Bitcoin are completely irrelevant." Posted: 30 Jan 2021 03:30 PM PST
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| The recent fiat frenzy seems trivial for a seasoned HODLer. Posted: 30 Jan 2021 05:49 PM PST So in the past two weeks we've seen the most insane events unfolding before our eyes. Millions upon millions of first time traders have put their money on the line, in pursuit of something bigger than themselves - or a quick buck - but I feel that for us bitcoiners, this is like being at the zoo, looking at a bunch of gorillas freaking the fuck out with every 10% dip or increase, safe behind thick glass. so many of us have seen red for years at a time, so many of us have had consecutive months of insomnia, but we have stood firm. Bitcoin is the Deepest of Fucking Value, and we are the most diamondest of hands. I fucking love bitcoin. [link] [comments]  | ||
| The Bitcoin moon song feat. Musk, Saylor and Back Posted: 30 Jan 2021 04:23 AM PST
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| ECDSA is 50% of the magic of Bitcoin Posted: 31 Jan 2021 01:23 AM PST ECDSA is 50% of the magic of bitcoin People understand the private key, but don't understand the signature. EDCSA is the tech that allows both of these ideas to work in conjunction. But what is a signature? The sig is a very important element to understand. I condense the process into a concept. First I'll explain the process The signing process contains 4 steps, 1: request the network to do something for you(send amount + address) 2: Receive a green light from the network (ready to process with approval) 3: Sign (the signature is constructed from your keys and the green light) 4: Send sig to blockchain So, now for the conceptual understanding, the signature contains 1: Keys 2: Transaction data (indirectly. Sig encrypts with greenlight from the network as well as private key) as a single document. So that document (or signature) can be constructed totally offline, and once made, does not expose any sensitive information. It's an algorithmic process. The signature does not require the net. So you can and should "sign" on an airgapped machine, produce a hash code representing the sig, transfer to a hot machine by photographing a hash of the sig, and initiate from a hot machine. The company ngrave is building what I think to be the strongest consumer wallet made so far because they made a wallet that holds the keys forever airgapped. This level of security (ecdsa with solid hardware) is very hard to directly attack, and requires phishing or physical manipulation so long as the keys are stored and created on an airgapped machine. The ability to instantly verify identity opens doors for new economic depth and complexity and efficiency. Instead of having to register for hundreds of sites and services individually all requiring approval processing time and meticulous inputs, you can have digital ID representations that grow like cryptos, and as they gain network effect, companies start accepting them. Then when they ask for your ID, you just "sign". This can be done with all sorts of data, medical data even. Registration for a job or a service is instant under this paradigm. What we then see is, what I like to call, a "bounty hunter" economy. The uber driver can run thousands of apps at once and run them in a super app. You could legally work for a company who never knows your name. Decentralized computation is the other 50% of the magic, and social media will eventually take place on decentralized structures. The global decentralized effect means non-censorship and pseudonymity, robust and redundant networks. It means alternative outlets to youtube and the other AI influence platforms. So I see a future where everyone has a "signing device" and within it the keys to banks IDs insurance home titles intellectual property and more. [link] [comments]  | ||
| What does #Bitcoin mean to me? (A 70 year old boomer) Posted: 31 Jan 2021 02:57 AM PST What does #Bitcoin mean to me? This is directed at those older people struggling to understand the upcoming paradigm change. On the face of it Bitcoin appears to be an easy way to make (fake fiat) money, and, it's true if you had bought Bitcoin back in 2010, say $1000 worth, you would now be a multimillionaire. I myself spent £100 on Bitcoin in 2012, in 2017 I frittered most of it away on what we now call altcoins, which is probably the reason I now 'hate' altcoins. As Max Kaiser succinctly puts it "They (alts) are designed to steal your Bitcoin"! And I completely agree with him. Bitcoin is an ideal, it's freedom in it's purest form because it makes 'you' sovereign, you become the bank, you become the government of you! Bitcoin is not a get rich quick scheme, it's a don't stay poor scheme for everyone on planet Earth. To truly understand the paradigm-changing aspects of this new currency system you must do your own research, you must become 'Alice' and dive headfirst into the rabbit hole. Below are two statements I wrote, both explain how I feel about Bitcoin and its ideals. I have just turned 70 and so will probably not see the fruits of my labours within this space. But I firmly believe we can change the world for the better! So good luck on your journey. Bitcoin is becoming far more than the sum of its parts. In the future, it will be a symbol of freedom! It will be the instrument that removed the greedy self-serving Elite from their ivory towers and, it will allow the poorest people equality that would never be available under the present fiat system. In order to remove the scourge, colloquially known as "The Elite and Deep State", we need to first remove their power, "Fiat Money"! To do that we need to change the paradigm by converting the world economies from a centralised fiat system to a de-centralised system. The tool that will enable us (that's we the people) to do this is already in hand. it's called Bitcoin! So the question begs? will you lot sit on your arses and watch everything you hold dear turn to shit! Or, will you do some reading and find out exactly how this would be possible? [link] [comments]  | ||
| 2021 will be the year of bitcoin and here is why. Posted: 30 Jan 2021 06:56 PM PST January 2020, bitcoin market cap: $150,000,000,000 December 2020, bitcoin market cap: $545,000,000,000 Market cap/monetary network/monetary energy increased nearly 400 BILLION in one year...there are only 900 bitcoin mined PER DAY. If every bitcoin mined for all of 2021 (900x365=320,850) is sold at $35,000. The 'market cap' of bitcoin increases ~2% by 11.5 billion...However...if the market cap were to increase by same amount as 2020 (400 billion) while every bitcoin person HODL, the price paid per bitcoin would need to be 1.1 million! (an increase of 400,000,000,000 of market cap could only be divisible by mined coins 320,850-if miners didn't decide to HODL themselves). If everyone HODL, with the same Ape like tenacity as like what is going on currently with GME. There would be supply side squeeze and mania would ensue to get in to bitcoin. By the time this would happen, bitcoin would literally become a black hole where value cannot escape as nothing else would come close as a store of future value, thus hyperbitcoinization. I'm not selling my BTC. I don't think this is actually realistic this year...but who knows? Curious if it is even possible? Please, someone shoot holes in this theory. With so much bullish news this past week including papa Musk posting on twitter about bitcoin. We could be witnessing the transformation of global (or should I say interplanetary) reserve currency before our eyes!???? [link] [comments]  | ||
| BTC 2021 Bull Market Outlook - A technical Perspective Posted: 30 Jan 2021 05:18 PM PST
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