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    Bitcoin Daily Discussion, April 04, 2021

    April 04, 2021

    Bitcoin Daily Discussion, April 04, 2021

    Daily Discussion, April 04, 2021

    Posted: 03 Apr 2021 10:05 PM PDT

    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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    I love being absolutely numb to Bitcoins price, if it hits 100k great! If it drops 60% great, buy more

    Posted: 03 Apr 2021 06:09 PM PDT

    Back in the day I would literally set alarms at night to check the price, which caused major anxiety and rash decisions. Don't let price fluctuations consume you're life. It's a silent slow killer.

    Become numb, it's the way to go.

    submitted by /u/Accomplished_Dig_247
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    Coinbase will be publicly traded on April 14

    Posted: 03 Apr 2021 01:31 PM PDT

    Goldman Sachs and JP Morgan are hyping Bitcoin in the run up to Coinbase

    Posted: 03 Apr 2021 09:03 PM PDT

    I keep seeing articles about GS and JPM hyping Bitcoin and couldn't tell why. Then I looked up the S-1 and noticed that they're underwriting the offering. They stand to make a shit ton of money off this, and they're telling everyone that Bitcoin is half off right now. Fits in well with the ETFs they're passing out to their high net worth clients.

    Expect a massive run on COIN's offerings in the lead up to their IPO, and a crazy valuation on COIN shares.

    Who else thinks we're in for a wild ride in two weeks?

    submitted by /u/Cheef-Justice
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    Birthday Piñata from my wife

    Posted: 03 Apr 2021 09:36 AM PDT

    Potential Vulnerability to using Multisig

    Posted: 03 Apr 2021 11:58 PM PDT

    https://benma.github.io/2020/11/05/multisig-xpubs-verification.html

    ​

    This article has an interesting take on why Multisig is in practice less secure than Single Sig with the majority of current hardware wallets. His arguments seem sound, in that once has to trust the machine is uncompromised when setting up multisig, and verifying addresses on the hardware device itself become insecure because the XPUB may be altered and many hw wallets either cannot display their own XPUB or cannot remember other multisig key's XPUB. So there is no way to verify that each generated address is uncompromised, even when viewing on the hw device's screen.

    ​

    It seems only Bitbox02 currently gets around this potential vulnerability, because it verifies each XPUB for each multisig key upon setup of the multisig address, and remembers the other XPUBs on the hardware device itself.

    ​

    Would love further discussion on this, as I was considering moving to 2/3 multisig with 3 Trezors.

    submitted by /u/HappyLuckBox
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    Bitcoin is being used as bounty price in The Falcon and The Winter Soldier series in the MCU.

    Posted: 03 Apr 2021 03:43 PM PDT

    Miners Accumulate Another 8,874 Bitcoin: Glassnode

    Posted: 03 Apr 2021 06:11 PM PDT

    The translation from gold to Bitcoin is tough in music

    Posted: 03 Apr 2021 05:42 PM PDT

    Bitcoin's Uniquely Favorable Launch Conditions And Resistance To Succession By Altcoins

    Posted: 03 Apr 2021 08:19 PM PDT

    PSA When asking if some site is safe, it's important to give the full domain

    Posted: 04 Apr 2021 02:30 AM PDT

    If you ask "Is Bitmongoose safe?" you might get a lot of people telling you how great it is. So you happily send them 0.1 BTC admin fees to claim your 2 BTC prize. And, of course, you never get anything or hear from them again.

    All the positive feedback was for bitmongoose.com, whereas you had found scammers at bitmongoose.space.

    submitted by /u/BakersDozen
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    Do yourself a favor and read the IRS FAQ’s on crypto tax

    Posted: 03 Apr 2021 10:38 AM PDT

    I have seen so many misunderstandings regarding questions 14, 16, and 19 IRS FAQ

    submitted by /u/Armenelos12
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    PSA: Easter Weekend CHAIN FEES are SUPER LOW. Move coin or open Lightning Network Channels !

    Posted: 03 Apr 2021 07:32 PM PDT

    UK crypto tax help

    Posted: 04 Apr 2021 02:04 AM PDT

    So, during the lockdown. I dove into crypto and started investing November 2020.

    I have been swapping alt coins extensively. However, I did not know that swapping crypto to crypto was taxable. Which begs to my question.

    How do I pay that swap from crypto to crypto if I have no fiat funds to pay for that capital gain. I'm really confused how that works. Does it force me to cash it out to cover my costs for the tax.

    From my understanding, The only thing I should pay for is that if I decide to convert my gains into GBP into a UK bank account (MONZO).

    For example, from all my trades (swapping alt coins) I have only ever converted USDT to GBP/BTC/GBP and ADA/GBP to a total amount of £12,000. Which I thought was the free allowance.

    I have not exceeded that in terms of withdrawal from Binance. Even though my current gains have grown, I have never exceeded to take profit over £12,000. Therefore, is there any point in declaring.

    My understanding was that. I only ever have to declare if my cashout (Crypto to fiat into a bank account) if I go over the Capital Gains allowance. Which I haven't. I just want to keep my bag growing.

    I don't want to tax evade, I just want to know the proper way to do this. How can they expect me to pay for a crypto to crypto swap when I am not even benefiting from the gain because I'm just riding the percentages and not cashing it to GBP.

    I really just don't understand how this works. Also, is it too late for me to declare such information.

    Thank-you very much

    submitted by /u/DatuCrypto
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    Happy Easter!

    Posted: 03 Apr 2021 02:44 PM PDT

    Some friendly tips and suggestions for getting out of poverty so you can buy more bitcoin

    Posted: 03 Apr 2021 11:18 AM PDT

    It's hard to start from nothing and turn your financial well being around-but it isn't impossible. If you want to stack as many sats as you can, here are some friendly tips:

    Put off that new iPhone, car, PlayStation, 👜, whatever.

    Rent somewhere cheaper (if it's safe, don't sacrifice your safety for money).

    Eat more vegetables and less meat (cheaper and better for you and the environment)

    Switch your phone plan to a non premium carrier without unlimited data. Use more WiFi.

    Cut your auto insurance rate if you have a car by shopping around or reducing the miles you drive or both.

    Buy no random stuff. Only buy things you can express a true need for.

    Make your food at home, stop buying food out and use only the necessary ingredients. Rice is cheap and so are oats, beans, eggs/egg whites and veggies.

    Make sure you're only carrying one tv streaming service.

    Get out of credit card debt completely (interest rate is too high) and if you can't control credit card spending, put limits on your card. Consider a balance transfer to a 0% apr card if you have too much debt to pay off.

    If you have not gone to college, advance your education at a local community college. Don't do this until you are ready to work your hardest to get good grades. You can't unfuck your transcript, so treat it carefully.

    If you don't like school, pursue a trade like plumbing or electricians apprentice or general contracting/carpentry.

    Get in shape! Health care is expensive and the less you need to use it, the better.

    If you don't have enough money to invest in bitcoin, bitcoin will not solve everything for you. But you can find other ways of escaping poverty if you truly focus, live frugally, and take it one day at a time. You can do this 💯

    submitted by /u/Crafty_Supermarket15
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    Buying Weekly

    Posted: 04 Apr 2021 01:07 AM PDT

    Hey guys, I've seen a few times that people are putting more money into BTC to begin with (hitting 0.1) and then just buying weekly.

    Is this necessary or can I just buy weekly? If so, what is a good weekly amount? I don't mind putting £5-£10 in each week, but I'm not sure if that's enough.

    Thanks for any information.

    submitted by /u/ImpactSkiver
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    Gangsta theme song for buying dem dips

    Posted: 03 Apr 2021 03:20 PM PDT

    Morgan Stanley Approves Bitcoin Exposure for Select Mutual Funds

    Posted: 03 Apr 2021 09:30 PM PDT

    My Bitcoin Core Full Node – alive & kicking

    Posted: 03 Apr 2021 02:41 PM PDT

    My Bitcoin Core Full Node – alive & kicking

    Doing my bit for the love of Bitcoin & making things a little more robust.

    ​

    Waiting is the hardest part. . .

    ​

    Finally. . .

    Interested in running a full node? Support the Bitcoin network by running your own full node, to get started jump over here

    Cheers,

    vaughanm88

    submitted by /u/vaughanm88
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    Visiting Mexico (or traveling in general), have wallets and exchanges and BTC info on my cell phone. Should I remove them?

    Posted: 03 Apr 2021 08:21 PM PDT

    I plan on traveling next month, I have my entire crypto collection atleast visible on my phone. It is all password/2fa/biometricrically protected. All apps and wallets are in a folder labeled something unrelated. My private keys are of course stored safely elsewhere. Should I delete these before traveling just to be safe or am I being paranoid?

    submitted by /u/himtnboy
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    Frank Giustra challenges Michael Saylor to gold vs Bitcoin debate

    Posted: 03 Apr 2021 11:38 AM PDT

    HODLing is not linear, it’s a spectrum.

    Posted: 03 Apr 2021 01:27 PM PDT

    As a community, I think we should move on from the toxic notion of never taking profits.

    I have seen so many posts get degraded because they sold their bitcoin to purchase a house, pay off their debt, or even to just indulge on their gains.

    They get outcasted and labeled as not a true "HODLer" because you're supposed to support the bigger cause of total decentralization and complete transfer of wealth.

    What I am trying to iterate is that just because you sold all or a portion of your bitcoin allocation, it doesn't mean you can't get back in again and continue to HODL.

    HODLing is not linear, it's a spectrum.

    There are times to accumulate and hold. There are times to sell for profit.

    submitted by /u/hethestranger
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