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    Bitcoin Mentor Monday, May 31, 2021: Ask all your bitcoin questions!

    May 31, 2021

    Bitcoin Mentor Monday, May 31, 2021: Ask all your bitcoin questions!

    Mentor Monday, May 31, 2021: Ask all your bitcoin questions!

    Posted: 30 May 2021 11:09 PM PDT

    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, May 31, 2021

    Posted: 30 May 2021 10:04 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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    Bank calls the cops on a 60 year old man who wanted to withdraw all his money to invest it into crypto lol we need more people like this guy! He gets it!

    Posted: 30 May 2021 07:54 PM PDT

    Bitcoin Actually Uses WAY Less Energy Than the Banking System, a New Paper Says

    Posted: 30 May 2021 06:49 PM PDT

    Bitcoin pit stop brrrrrr!!!

    Posted: 30 May 2021 10:48 AM PDT

    Shoutout Rinus VeeKay and Ed Carpenter for supporting Bitcoin! I got to see them live today at the Indy 500. VeeKay actually led a good portion of the race! 5M+ people just saw the future at 230MPH ����

    Posted: 30 May 2021 02:40 PM PDT

    The bitcoin racing car will be starting on the front line of the Indy 500 today. Let’s go win a race!

    Posted: 30 May 2021 06:40 PM PDT

    Over the past weeks we heard a lot of news coming from China about another Bitcoin ban, miners gone offline and it was reported that the Chinese State Council was cracking down on mining...

    Posted: 31 May 2021 01:46 AM PDT

    “According to the report, $3.2 billion of Bitcoin was sold at a loss last week after being acquired in the previous 4 to 13 weeks.” -Noobs lol....

    Posted: 30 May 2021 03:40 PM PDT

    "... explains that whales bought 77,000 bitcoin last week, now worth over $3 billion." -Pros lol....

    submitted by /u/AcidAlchamy
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    3M Subscribers! Congrats everyone

    Posted: 30 May 2021 04:57 AM PDT

    Here since 100k! Let's keep growing !

    submitted by /u/RedditTooAddictive
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    They can’t stop printing

    Posted: 31 May 2021 03:00 AM PDT

    Opinions about bitcoin

    Posted: 30 May 2021 10:00 AM PDT

    This is why we HODL: In a zero-sum game such as this, traders can only take your money if you sell.

    Posted: 31 May 2021 02:27 AM PDT

    HODL is a term derived from a misspelling of "hold" that refers to buy-and-hold strategies in the context of bitcoin and other cryptocurrencies.

    The term HODL (or hodl) originated in 2013 with a post to the bitcointalk forum. The price of bitcoin had surged to a high of over $1,100 at the beginning of December 2013 from under $15 in January 2013 . In the 24 hours to 10:00 a.m. UTC, Dec. 18 – possibly in response to reports of a Chinese crackdown – the price of bitcoin fell 39%, to $438 from $716, according to CoinDesk's bitcoin price index.

    What is HODLING? At 10:03 a.m. UTC on Dec. 18, GameKyuubi posted "I AM HODLING," a drunk, semi-coherent, typo-laden rant about his poor trading skills and determination to simply hold his bitcoin from that point on. "I type d that tyitle twice because I knew it was wrong the first time. Still wrong. w/e," he wrote about the now-famous misspelling of "holding." "WHY AM I HOLDING? I'LL TELL YOU WHY," he continued. "It's because I'm a bad trader and I KNOW I'M A BAD TRADER. Yeah you good traders can spot the highs and the lows pit pat piffy wing wong wang just like that and make a millino bucks sure no problem bro."

    He concluded that the best course was to hold, since "You only sell in a bear market if you are a good day trader or an illusioned noob. The people inbetween hold. In a zero-sum game such as this, traders can only take your money if you sell." He then confessed he'd had some whiskey and briefly mused about the spelling of whisk(e)y.

    Within an hour HODL had made its way into memes: the movies 300 and Braveheart provided the initial source material, but there are now countless HODL memes floating around the internet (Game of Thrones' Hodor is a favorite subject).

    (Pictured: The original HODL meme, based on a still image from the Spartan disaster film "300.")

    HODL as Strategy and Philosophy HODL soon became a byword for an approach to cryptocurrency investing that shuns trading based on short-term price moves. This approach mirrors GameKyuubi's rationale: novice traders are likely to botch their attempts to time the market and lose money or make less than they would simply holding onto their coin.

    Short-term swings aside, bitcoin's long-term volatility defies familiar logic. The price shot up by 52,000% from 2011 to 2013, then plunged by more than 80% over the following year. Since then it has shot to more than 17 times its previous high, only to fall again by half. Throughout the history of the cryptocurrency, credible voices have made logical arguments that it would go "to the moon" or crash to zero.

    Hodlers wash their hands of all this volatility and prognostication. They simply hodl, which helps them to counteract two common destructive tendencies: FOMO (fear of missing out), which can lead to buying high, and FUD (fear, uncertainty, and doubt), which can lead to selling low. The latter is occasionally referred to as SODLing.

    For hard-core believers in cryptocurrency, known as maximalists, HODL represents more than a strategy for reigning in FOMO, FUD, and other profit-eroding emotions. These true believers hodl because they think cryptocurrencies will eventually replace fiat currencies and form the basis of all future economic structures. They, therefore, see the fiat exchange rate of cryptocurrencies as irrelevant.

    Predictably, a meme best captures this maximalist philosophy. Neo (from The Matrix) asks Orpheus, "What are you trying to tell me, that I can trade my bitcoin for millions someday?" Morpheus responds, "No Neo, I'm trying to tell you that when you're ready … you won't have to."

    submitted by /u/silly_investor
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    Happy Memorial Day! Banks are closed today, but Bitcoin is still open for business!

    Posted: 30 May 2021 06:08 PM PDT

    Never gets old...

    submitted by /u/mastermind1228
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    Sheetz gas station accepting bitcoin as payment. Keep after it folks. Keep asking business, towns, cities and states to being accepting cryptocurrency as a payment option.

    Posted: 30 May 2021 09:05 PM PDT

    R/Bitcoin is about to hit a massive milestone today (30 May 2021). Congratulations on three million subscribers!!!

    Posted: 30 May 2021 01:28 AM PDT

    Beijing will find it hard to ban cryptocurrencies!

    Posted: 30 May 2021 10:18 PM PDT

    Veekay in the Bitcoin car leading the Indianapolis 500!

    Posted: 30 May 2021 09:51 AM PDT

    Bitcoin Market Analysis

    Posted: 30 May 2021 03:13 PM PDT

    Spectacular ongoing Indianapolis 500 race ongoing with Bitcoin car #21 driven by Rinus Veekay. Proud like many others to have contributed to it.

    Posted: 30 May 2021 10:39 AM PDT

    Alt-coin Traders vs Bitcoin HODL

    Posted: 31 May 2021 02:29 AM PDT

    Oh look the only mining pool not signaling taproot is MARA Pool, if you own stock in $MARA please sell it, they are not keeping up with the times and are a overall piece of shit company.

    Posted: 30 May 2021 10:22 AM PDT

    $MARA is the worst bitcoin company in the space. Sell all your shares if you own any. They also exclude certain transactions from thier mining blocks lowering their revenues and screwing over sharesholders. This company is straight up trash.

    submitted by /u/hyperinflationUSA
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    Question: How do I accept BTC as Payment Method?

    Posted: 30 May 2021 09:49 AM PDT

    Hello guys, I have a short question regarding the acceptance of BTC in my local/physical store. I want to integrate pay via BTC for certain products (as a test run). I know how to send/buy/store and receive BTC, but I am struggling with this specific question:

    Are there any (free) apps/services/wallets I can use, where I enter the amount of FIAT money the customer has to pay, so that the app generates a QR-Code for this specific customer?

    Thanks in advance

    submitted by /u/f2oow
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    Bitcoin Price Prediction: A bullish reversal is Brewing?

    Posted: 30 May 2021 07:16 PM PDT

    On the daily price chart makes it clear that in the coming days, the Bulls can re-engage in the struggle. The histogram of the MACD is trending to cross from the negative to the positive zone, and the RSI indicator just crossed the lower border from the bottom up, which is also a Bullish signal.

    https://medium.com/bex500/bitcoin-price-prediction-a-bullish-reversal-is-brewing-6745f35684bf

    submitted by /u/Trina_L
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    Bitcoin Cycle Charts, courtesy of CTM community (@ jclcapital on Twitter, Conquer Trading and Investing on YouTube)

    Posted: 30 May 2021 01:52 PM PDT

    Tell your mining pools to stop building on top of Marathon blocks. Bootlickers like them are not welcome. The faster we bankrupt Marathon, and signal to others that we do not support authoritarianism, the better.

    Posted: 30 May 2021 08:36 AM PDT

    Bull & Bear Properties | You might have missed this real estate agency accepting cryptocurrency in Dubai, United Arab Emirates

    Posted: 31 May 2021 02:01 AM PDT
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