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    Bitcoin Daily Discussion, June 03, 2021

    Bitcoin Daily Discussion, June 03, 2021


    Daily Discussion, June 03, 2021

    Posted: 02 Jun 2021 10:08 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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    Elon Musk's reputation hits a low on Twitter after attacking bitcoin

    Posted: 02 Jun 2021 08:30 PM PDT

    Church of Bitcoin: "So in Quebec you're telling me ONE hydro powerplant produces 36+ GW,and MOST of this power is unused. ~1/6-1/3 of this unused power can run the ENTIRE #bitcoin network. THE ENERGY FUD NEEDS TO STOP. Absolutely ridiculous".

    Posted: 02 Jun 2021 07:14 PM PDT

    Waiting for $40k bitcoin like...

    Posted: 02 Jun 2021 08:19 AM PDT

    Ron Paul: Bitcoin should be legalized as money, let it compete with Dollar | Kitco News

    Posted: 02 Jun 2021 11:46 AM PDT

    The Federal Reserve has discontinued the weekly release of money supply data and you should be very worried

    Posted: 02 Jun 2021 11:38 PM PDT

    The Federal Reserve has discontinued the weekly release of money supply data and you should be very worried

    In 2006, the Fed decided to abort publishing the M3 stock, dismissing it as "irrelevant and not being part of monetary policies for a long time"

    But the truth was, M3 was increasing at a much more alarming rate (nearly 2x) than M2 following the dot-com bailouts in the early 2000s. Just as the Fed and pro-administration pundits habitually make sure to focus on whatever consumer price measure increases the least to play down inflation, the Fed wanted to divert public attention towards a money supply measure which was increasing at a relatively lesser rate at the time - the M2 stock.

    We all know what happened 2 years later.

    Now fast forward 15 years, this is what M1 and M2 look like

    M1 Money Stock

    M2 Money Stock

    As you can see, M1 stock, which is all the loose money in active circulation plus your checking bank deposits, is melting faces and going to the moon!

    M1 has risen from $4 trillion in March 2020 to $18 trillion in February 2021.

    M2, which is M1 plus savings deposits and funds, is up as well but not as much. This is a clear indication that people have been forced to abort saving/investing.

    Both these metrics are a bad look for the economy. So for the time being, the Fed has stopped the weekly release of this information while they figure out how to spin this in their favor just like they did in 2006. Again, we know what happened 2 years later.

    submitted by /u/xcryptogurux
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    Bitcoin through the air. A few Brazilian guys sent the first Earth moon Earth bitcoin transaction via radio waves. and they have a project to create a radio ecosystem to transact bitcoin as an response to people who think It can only be done through the internet. remember you are born free.

    Posted: 02 Jun 2021 03:31 PM PDT

    Electric heater that mines bitcoin at home. No more energy FUD + more decentralization.

    Posted: 03 Jun 2021 12:45 AM PDT

    My Bitcoin market cap target

    Posted: 03 Jun 2021 02:12 AM PDT

    Top post of r/Poor: "Buy even 10 dollars in Bitcoin at a time if that's all you can spare. That's how I started. Today, the first 10 dollars I've put in just crossed the million-dollar mark. That took only a decade of holding a value I would've spent anyway. Don't put so much in that you struggle"

    Posted: 02 Jun 2021 01:19 PM PDT

    If you divide 21 million bitcoin by 7.75 billion people, there's enough bitcoin for each person to have 0.00271 or so bitcoin.

    Posted: 02 Jun 2021 07:43 PM PDT

    Right now. Let's say btc $38. That's $103. To have a reasonable stake.

    Yeah. Lost coins etc only strengthens the point.

    submitted by /u/hamhamhammyham
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    Buying Bitcoin Is Like Voting to Build a Better World for the Future. For your vote to be truly counted, you must become a Bitcoin HODLer.

    Posted: 02 Jun 2021 11:48 PM PDT

    NFL’s Russell Okung to Bitcoin Energy Critic Elon Musk: ‘Stick to Space’

    Posted: 02 Jun 2021 01:34 PM PDT

    ⚡ Lightning Thursday! June 03, 2021: Explore the Lightning Network!⚡

    Posted: 02 Jun 2021 11:13 PM PDT

    The lightning network is a second-layer solution on top of the Bitcoin blockchain that enables quick, cheap and scalable Bitcoin payments.

    Here is the place to discuss and learn more about lightning!

    Ask your questions about lightning

    Provide reviews, feedback, comparisons of LN apps, services, websites etc

    Learn about new LN features, development, apps

    Link to good quality resources (articles, wikis etc)

    Resources:

    submitted by /u/rBitcoinMod
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    Request for a Megathread for 'Bitcoin 2021 Conference' in Miami

    Posted: 02 Jun 2021 10:21 PM PDT

    It is already tomorrow Friday 4th, it will be massive with more than 50k attendees, great list of speakers and topics.

    I find it weird that such an important and relevant event has barely been mentioned on this sub. It's not a 'crypto' o 'altcoins' conference, its all about Bitcoin.

    We need a stickied thread to post about streaming links, times for specific speakers, answer questions and general comments about the conference.

    Here is the website:

    https://b.tc/conference

    submitted by /u/simplelifestyle
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    Opinion: Criticism of bitcoin’s carbon footprint is overblown — it’s greener than many think

    Posted: 02 Jun 2021 08:03 AM PDT

    The intentions of wall street in the crypto space.

    Posted: 02 Jun 2021 08:05 PM PDT

    This whole time I have truly believed that entities like JP Morgan and Goldman Sachs claiming Bitcoin and crypto is a scam, while also stocking up is clear evidence that they realize they can no longer control the supply of an asset, and have no other choice than to stock up as much as possible to mitigate this inevitable redistribution of wealth as much as possible. With that said, I have never doubted the intrinsic value of bitcoin and this whole space, but can't help to wonder if there is enough money out there to influence this enough in a negative way. Does that matter? Is there any true reason for concern on the ground of wall streets involvement in bitcoin not so much for the every day investor, but the well-being of bitcoin in general considering its intentions?

    submitted by /u/ReliableCorrelation
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    Inflation is just another form of tax by the government. Bitcoin fixes this.

    Posted: 02 Jun 2021 03:15 PM PDT

    How do I schedule my Forbes interview?

    Posted: 03 Jun 2021 01:36 AM PDT

    Just got my first 903 sats sent through the Lightning Network! Should I schedule my Forbes interview?

    submitted by /u/acao2020
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    Nuclear fusion / free energy impact on BitCoin?

    Posted: 03 Jun 2021 03:03 AM PDT

    It seems a British scientist claims to have solved the issue of being able to harness energy from fusion without "spending" more energy / money on the process itself (i.e. figured out a way to provide a net energy gain).

    If this is true and there was an energy revolution (free energy) - what impact do people think this would have on the value / popularity of bitcoin?

    https://www.gov.uk/government/news/first-results-from-uk-experiment-point-to-a-solution-to-one-of-fusions-hottest-problems

    submitted by /u/triedtolive
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    Ledger: Do not sell my personal information optout

    Posted: 03 Jun 2021 02:02 AM PDT

    Can someone explain to me why the technology subreddit is so vocally against cryptos?

    Posted: 02 Jun 2021 10:34 AM PDT

    Every day I see posts bashing cryptos over there. And it's always the same stupid shit like 'environment' and 'criminal activities'

    submitted by /u/diamened
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    Is the mempool empty?

    Posted: 02 Jun 2021 10:33 PM PDT

    Mempool tiny, unfilled blocks for the first time in ages

    Posted: 02 Jun 2021 11:36 PM PDT

    According to mempool.space, the mempool is only 11 megabytes right now. The lowest I have seen it since I started checking regularly (6 months ago maybe) the lowest I saw was ~150 megabytes. You could pay 3 SATs/vB right now and get confirmed fairly quickly

    There are blocks that aren't even filled, I'm seeing blocks as little as 550 kilobytes.

    Does anyone have any theories on why the network's usage has dropped so much, and seemingly suddenly?

    submitted by /u/TheFronkler
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    How are whales manipulating a market with news websites?

    Posted: 03 Jun 2021 01:39 AM PDT

    Interesting post about how "whales" manipulate a market with newspapers (news website). It seems logical. This tweet has been posted from TwoCommasPauper, ex-employed in the corporate world. https://twitter.com/twocommapauper/status/1397106939193085952

    Seems logical with this massive dump.

    submitted by /u/cyberhash
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