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    Bitcoin Mentor Monday, March 08, 2021: Ask all your bitcoin questions!

    March 08, 2021

    Bitcoin Mentor Monday, March 08, 2021: Ask all your bitcoin questions!

    Mentor Monday, March 08, 2021: Ask all your bitcoin questions!

    Posted: 07 Mar 2021 10:08 PM PST

    Ask (and answer!) away! Here are the general rules:

    • If you'd like to learn something, ask.
    • If you'd like to share knowledge, answer.
    • Any question about Bitcoin is fair game.

    And don't forget to check out /r/BitcoinBeginners

    You can sort by new to see the latest questions that may not be answered yet.

    submitted by /u/rBitcoinMod
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    Daily Discussion, March 08, 2021

    Posted: 07 Mar 2021 09:00 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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    Born too late to explore the Earth. Born too early to explore the stars. But born just in time to invest in Bitcoin.

    Posted: 07 Mar 2021 01:02 PM PST

    Norwegian company "Aker" invests $59 mill in bitcoin

    Posted: 07 Mar 2021 10:58 PM PST

    Proud to be a norwegian today! Kjell Inge Røkke announces a $59 million investment in Bitcoin and the Norwegian government already indirectly owns 2000 bitcoin.

    Article in Norwegian:

    https://e24.no/boers-og-finans/i/aP3qQO/kjell-inge-roekkes-aker-satser-paa-bitcoin-investeringer-lanserer-nytt-selskap-med-kapital-paa-en-halv-milliard-kroner?referer=https%3A%2F%2Fwww.vg.no

    submitted by /u/BigStiffy94
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    In the end, I decided against NFTing my painting. Link for highest res (4420x3673px) in first comment, for you all to use as you see fit. Thanks again for the incredible support

    Posted: 07 Mar 2021 08:31 AM PST

    Elon should slap a BTC logo on the next rocket he launches

    Posted: 07 Mar 2021 04:49 PM PST

    and make sure it's not one of the explody ones.

    submitted by /u/rickettycrickettt
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    Ond of Norway richest investors, invest in Bitcoin! Big news for Norway!

    Posted: 07 Mar 2021 11:37 PM PST

    Chinese tech company Meitu has announced a massive purchase of 380 BTC

    Posted: 07 Mar 2021 07:08 AM PST

    Told my boomer parents I invested $4,000 in Bitcoin

    Posted: 07 Mar 2021 02:33 PM PST

    Instead of scolding me, they want to buy $10k. I know already that they are doing this for my future, so this is pretty awesome.

    submitted by /u/CockroachGullible652
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    Please read the Bitcoin Whitepaper

    Posted: 07 Mar 2021 07:27 PM PST

    If you're holding and haven't read it already then please do. It's only 9 short pages. Most of you will comprehend at least 70% of it upon first reading. The tech can be dense, but the underlying concepts are not.

    I've had too many discussions with people who misunderstand underlying fundamentals to Bitcoin, but the misconceptions can all be easily dispelled by reading Satoshi's words.

    Also, you can gloat to your friends that you've read the whitepaper (guilty).

    LINK

    submitted by /u/Cheeseason
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    Suntrust Bank closed someone's account with no warning. Left them with no ability to pay bills, feed their family, or pay for gas. Bitcoin fixes this.

    Posted: 08 Mar 2021 12:07 AM PST

    Currently the 2nd highest post on r / personalfinance (can't link to it because it'll get removed):

    On March 3rd, 2021, my husband was out and tried to buy a cheeseburger, when his card declined. He called me to let me know his card was not working and asked if i could get to the bottom of it. I had noticed the previous day, that the app on my phone for our bank, SUNTRUST, was not letting me login as i was trying to check our funds for budgeting, and i assumed the app was being updated so i didn't bother with it. all in all, i ended up calling the customer service phone number on the back of my debit card, which connected me with a representative to whom i explained the current situtation. The representative began to stutter and could barely get a sentence out without placing an "umm" between every word, which instantly gave me anxiety. As she procceeded to answer my question as to why my card was not working, she stated "The account has been closed, Suntrust decided they will no longer continue banking with you as per a 'routine review' of their accounts". As you could imagine, i was instantly irate, Due to the fact that all of my husband and I's funds were in this one sole account, and i had not recieved ANY notification of closure or review. I instantly hung up the phone, and decided i would go down to my local branch, because surely this was some mistake.

    As i arrived at the branch, i sat down with a banker in a very humid glass office, and kindly explained what the representative had told me on the phone, but that i had no knowledge of why this would have happened. The banker seemed confused as if this had never occured before, and procceeded to pull up my account. As he read over the notes, he remained quiet which i found odd. He turned to me and very plainly stated "there are no notes in regards to the situtation, im not sure why, there is just a phone number provided for you to contact for more information, im sorry." and handed me a paper with the said phone number on it.

    I walked out of the building, and called the number in my car from the parking lot. It brought up the automated system for the suntrust fraud department, which then led to me to a representative with an international accent, most likely indian, which led me to assume this was an offshore phone number. I again had to explain my situation and yet AGAIN no explanation could be provided.

    At this point, i was now past anger, and my emotions grew into fear, where is my money!?

    I walked back into the branch, unsatisfied with the service being provided from this institution, and requested to speak with the manager. He politely led me into his office, as i again explained the situation. as the banker before had, the manager pulled my account up and read through what seemed like an endless amounts of notes, yet could not provide an explantion. He stated he had to call the 'back office' who are responsible for account closures, placed the call on speaker but as soon as someone picked up, placed it on a personal call so i could not hear the responses. The manager explained what was going on, and asked "is there any information that i CAN provide to the client?" which flew a huge red flag for me.. what do you mean what you can tell me? its my money for god sake, don't hide information.. but anyways, he continued on and could only state that the fraud department was reviewing my account and they decided to close the account. he could not provide any timeframe for when i would recieve my money, but that it would come through a check in the mail. I cried right there unapologetically, this bank took all our money, won't give us access to it online to even verify the amount in the account, and won't provide any further information.

    I have no money to pay the bills, feed my family, put gas in the car. I don't know how this is even legal, as i have seen many other people's testimonies reporting the same, with no luck for a resolution. We had thousands of dollars in this account, and they took it all without remorse or explanation.

    What do we do now? Get a lawyer? How do we pay?

    If this has happened to you, i am so sorry, but this just can't be legal.

    what now.

    This story is frightening. Bitcoin helps me sleep well at night. Be your own bank.

    submitted by /u/jberm123
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    One of Norways richest person starts company Seetee that invests in Bitcoin

    Posted: 07 Mar 2021 11:21 PM PST

    OSLO, Norway, March 8, 2021 /PRNewswire/ -- Aker ASA ("Aker") today announced that it has established Seetee AS ("Seetee"), a new company dedicated to investing in projects and companies throughout the Bitcoin ecosystem and which will keep all its liquid investable assets in bitcoin. Seetee is initially capitalized with NOK 500 million.

    ​

    kjell inge røkke (https://en.wikipedia.org/wiki/Kjell_Inge_R%C3%B8kke)

    ​

    ​

    https://markets.businessinsider.com/news/stocks/aker-asa-launches-seetee-to-invest-in-bitcoin-and-blockchain-technology-1030158204

    submitted by /u/madbearNow
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    Tomorrow will be a good day. First business day after stimulus bill passed, stocks will boom, Bitcoin will boom, been holding a solid 50k all weekend, going to be all green candles Alldayyy ��

    Posted: 07 Mar 2021 09:05 PM PST

    Who's got a bottle ready to pop when they wake up? 🍻keep the free money flowing 🚀💰

    submitted by /u/Accomplished_Dig_247
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    Someone in r/personalfinance was asking how to best protect a 50k house down payment for 6 years. I suggested Bitcoin - and my comment is now 'under review".

    Posted: 07 Mar 2021 04:14 PM PST

    Something about being flippant and exaggerating gains blah blah blah. I find it ironic given the entire sub is littered with stock market recommendations.

    Full disclosure, I did say in 6 years it would probably be enough for the whole house. #facts

    submitted by /u/cejax
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    Vires in Numeris -- "Strength in Numbers"

    Posted: 07 Mar 2021 11:42 AM PST

    I'm seriously surprised by the amount of friends who say to me "but bitcoin is falling hard right now" like its been a failed project in the past year.

    Posted: 07 Mar 2021 01:34 PM PST

    Coinbase is now just straight-up scamming, trying to charge five times the prevailing next-block rate for a Bitcoin withdrawal and still presenting it as 100% network costs

    Posted: 07 Mar 2021 10:28 PM PST

    Norwegian Oil Billionaire Joins the Bets on Bitcoin

    Posted: 08 Mar 2021 02:26 AM PST

    https://www.bloomberg.com/news/articles/2021-03-08/billionaire-rokke-bets-bitcoin-will-be-on-right-side-of-history?sref=ab1w3h2J

    Oil billionaire Kjell Inge Rokke has come out strongly in favor of Bitcoin, as he bets the cryptocurrency will prove the best defense against the disruption facing the finance industry and central banking.

    Rokke's Aker ASA, which controls oil and oil service companies and has more recently branched out into green tech and renewable energy companies, is setting up a new business, Seetee AS, to tap into the potential of Bitcoin, according to a statement on Monday.

    "Bit­coin may still go to zero. But it can also be­come the core of a new monetary ­architecture," Rokke wrote in a shareholder letter on Seetee's website. He says it's not inconceivable that one Bit­coin could one day "be worth mil­lions of dollars."

    "Peo­ple who know the most about Bit­coin be­lieve its fu­ture suc­cess is near­ly in­evitable," Rokke said.

    For now, Rokke's investment will be small, and Seetee will start with just 500 million kroner ($58 million) in capital. The firm plans to keep all its liquid investable assets in the cryptocurrency.

    Bitcoin has continued to divide opinions after a volatile start to the year. A single coin cost more than $57,000 at one point last month, compared with just over $8,000 roughly a year ago. The cryptocurrency has won some notable endorsements of late, including Elon Musk. It's also been associated with some nail-biting investing moments, with Cathie Wood's Ark Investment Management a notable example.

    Goldman Crypto Chief Flags Institutional Demand Driving Boom

    Aker's Seetee will focus on investing in Bitcoin, establish partnerships with leading players in the Bitcoin and broader blockchain community, launch Bitcoin verification operations and invest in innovation projects and companies.

    The Norwegian industrial company, with roots reaching back 160 years, has been active in investing in industrial software, fintech and green energy value chains. Its latest venture into cryptocurrency is intended to help pursue developments in cyber security, financial transactions and emissions-free verification operations, it said.

    "The di­rec­tion is clear: fi­nance will be dis­rupt­ed as sure­ly as fos­sil fu­els will be," Rokke said. "The question is not if, but when."

    submitted by /u/mew1946
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    $1 Invested in Bitcoin vs Gold over 11.4 years

    Posted: 08 Mar 2021 12:19 AM PST

    JPMorgan Chase sends reports to its private banking clients on the introduction of encryption technology and Bitcoin valuation methods

    Posted: 07 Mar 2021 06:59 PM PST

    On March 8th, JPMorgan Chase has sent a cryptocurrency introductory report to its private bank customers to educate them on the risks and opportunities of investing in crypto technology. The minimum balance of these related accounts is US$10 million. The report also analyzed the valuation method of Bitcoin and applied three different indicators, namely the number of users, the value of gold and the global money supply. Specifically, if a version of Metcalfe's Law is applied (the value of Bitcoin is proportional to the square of the number of users), then the valuation of Bitcoin will be $21,667; if the current value of gold is applied to 21 million coins The maximum supply of Bitcoin, then its value will be US$540,814; if the global currency value is applied to the maximum supply of Bitcoin, the value of Bitcoin is US$1.9 million.

    submitted by /u/Hot_Championship_787
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    Bitcoin Stimulus Check bump by the numbers

    Posted: 07 Mar 2021 11:41 AM PST

    I did a bit of research just to see what has happened the previous 2 times. It's very good news.

    Stimulus check 1 beginning of disbursements:

    April 24, 2020

    Price of BTC $7498

    Peak May 8 $9917

    14 days, growth of 32%

    ​

    Stimulus check 2 beginning of disbursements:

    December 30, 2020

    Price of BTC $28,768

    Peak Jan 9 $40,519

    10 days, growth of 41%

    ​

    Stimulus check 3 beginning of disbursements:

    March 22, 2021

    Price of BTC ?

    Peak maybe 12 days later on April 3?

    Average of two previous growth periods, 36.5%

    Price today 3/7 is $50,444

    If that stayed flat until the 22nd, but then experienced similar growth to the two previous stimulus check bounces, then the new price on April 3rd would be $68,856.

    This is only one metric, with limited samples, but chances are… you're not too late.

    submitted by /u/brickmadness
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    Another whopping $1.9 Trillion printied. The bull case for Bitcoin is stronger than ever.

    Posted: 07 Mar 2021 04:07 AM PST

    Get you stimulus check and buy an actual scarce asset for your depreciating dollars. The value proposition for Bitcoin is stronger than ever. The dollar is losing purchasing power everyday while Bitcoin remains as scarce as it will always be. Be the change and opt out of this corrupt system.

    submitted by /u/eusoumerda
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    Michael Saylor On the Next Big Investors Ready To Buy Bitcoin !

    Posted: 07 Mar 2021 06:02 PM PST

    Meitu, a Chinese photo filtering app listed in HK have become the latest public company to add 379.12 BTC to its treasury

    Posted: 07 Mar 2021 06:27 AM PST

    Bitcoin: Microstrategy´s Michael Saylor unchained

    Posted: 08 Mar 2021 01:39 AM PST

    PSA: it is mathematically determined that hodlers always have some anxious feelings of being "below" their personal Bitcoin all time value peak. This is because Bitcoin is *always* below (or momentarily setting) it's all time high. Don't let this quirk of human psychology deter you. Strong hands.

    Posted: 07 Mar 2021 05:42 AM PST
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