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    Bitcoin Daily Discussion, June 08, 2021

    Bitcoin Daily Discussion, June 08, 2021


    Daily Discussion, June 08, 2021

    Posted: 07 Jun 2021 10:06 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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    Updated map of South America.

    Posted: 08 Jun 2021 12:30 AM PDT

    Politician in Panama tweets that “Panama cannot be left behind” in response to El Salvador’s Bitcoin Proposal.

    Posted: 07 Jun 2021 03:19 PM PDT

    President Nayib Bukele: "Satellite infrastructure will be built so that Salvadorans in rural areas can connect to the internet and the Bitcoin network in places where the connectivity is poor. Blockstream will contribute with its technology to make the nation a model for the world."

    Posted: 07 Jun 2021 09:58 PM PDT

    Donald Trump said the quiet part out loud.

    Posted: 07 Jun 2021 10:51 PM PDT

    We hear a lot of FUD from the powers that be:

    "Bitcoin is...

    A ponzi scheme. A waste of energy. A tool for criminals."

    One thing we never hear?

    "Bitcoin is a threat to the U.S. dollar."

    Then along comes smooth-brained Donald Trump who says exactly that on live TV.

    Dude is a dimwit, but he was just America's president for four years. If he's calling Bitcoin a "threat to the dollar" then that is 100% a sentiment at the highest levels of government.

    I bet we see a lot more coordinated FUD in the coming weeks and months. They're trying to cripple this thing now, while retail is scared and institutions have minimal exposure. Undercut the bull run and kill the twelve-year narrative.

    Stay tuned for the SEC ruling on VanEck Bitcoin ETF next week. Their decision and the language they use will be very telling.

    submitted by /u/Tron_Passant
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    Hodl with strong hands and a stout heart - the FUD will be fast and thick as poor nations seek to adopt the bitcoin standard

    Posted: 07 Jun 2021 08:34 PM PDT

    Bitcoin just entered into a new phase with El Salvador, Paraguay, Argentina, Brazil, etc either adopting or considering the adoption of a Bitcoin standard. I'm not one for conspiracies, but it is almost certain that this will start the gears turning in Washington D.C., London, Berlin, etc.

    The FUD will be fast and thick over the next few years as poorer nation state adoption becomes prevalent. The euro and dollar have much to lose, but the people who use those currencies or their own failing currencies have much to gain. We hodlers will be their backbone, and stand with them in solidarity.

    Be ready. Have a strong hand and stout heart. If nation states see value in this, we've already won friends. It's just going to be a painful victory journey.

    Figure out what side of history you want to be on. Cast your die.

    Godspeed.

    submitted by /u/Crafty_Supermarket15
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    "And 4 years from now people will be kicking themselves for selling in the 30k range ..."

    Posted: 07 Jun 2021 05:53 AM PDT

    I’m not selling any BTC

    Posted: 07 Jun 2021 09:40 PM PDT

    Remember, the fundamentals are the same and there's no reason to sell any right now. Currently there is a lot of fear and fud in the market which is the best time to accumulate. If you've done your research and know what you're entering into, it's crypto in the end, prices will come down but it will recover and we will be happy in a few months. It does not matter even if you bought high, close the charts and enjoy your daily life.

    P.S I bought @ an average of 36.5k and I'm already out of fiat from buying the dips. Now I store it in my cold wallet and enjoy the ride.

    submitted by /u/guyastronomer
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    Brazil politicians are now supporting BTC

    Posted: 07 Jun 2021 01:55 PM PDT

    El salvador, paraguay and soon brazil might join the hyperbitcoinization. Im so proud of how much we have achieved ❤️

    submitted by /u/sai_gamer
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    Bitcoin today)

    Posted: 08 Jun 2021 03:49 AM PDT

    Massive (100ft!) Bitcoin Inspired Mural at BTC Conference by GREG MIKE

    Posted: 07 Jun 2021 01:45 PM PDT

    PayPal registered a record with Bitcoin and reached a daily volume of more than $300 million

    Posted: 07 Jun 2021 01:33 PM PDT

    If you are now selling bitcoins for fbi news, then you will never become rich. Bitcoin should be bought now, not sold

    Posted: 07 Jun 2021 09:41 PM PDT

    I don't know who are the people who sell bitcoin now. But I want to thank them for giving me the chance to buy at such low prices))

    Posted: 08 Jun 2021 04:35 AM PDT

    Bitcoin is a savings account not a lottery ticket

    Posted: 07 Jun 2021 01:07 PM PDT

    If you are wondering if you should buy now and put a big part of your money in to get rich JUST DON'T.

    Instead put little every month regardless of the price. Like you would for your children / grandchildren.

    That's DCA that's how you will be able to not get reck when China ban bitcoin again.

    It will pay in many years or not. but you won't stress loose your house or go back to live to your parent

    submitted by /u/lsmod1
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    First on CNN: US recovers millions in cryptocurrency paid to Colonial Pipeline ransomware hackers

    Posted: 07 Jun 2021 12:24 PM PDT

    Bitcoin is Hope

    Posted: 08 Jun 2021 01:47 AM PDT

    I believe in the Bitcoin and I believe that peoples who are panic selling in these days they will regret the bitcoin will be easy at 100,000 this price is nothing, the main support for the bitcoin us currently is 30,000 dollar that is the key support IF we fall below it than we can see bitcoin at 27000 support don't panic sell

    submitted by /u/Key-Succotash6604
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    Bitcoins falling price is okay with me...

    Posted: 07 Jun 2021 06:12 PM PDT

    So far El Salvador, Paraguay and now apparently Panama are looking to go to the Bitcoin standard. my greatest hope is that these nations that have been terrorized by the World Bank and the international monetary fund as well as the US dollar hegemony have the opportunity to get in at the lowest point so that when Bitcoin rises again and it will rise again it will carry with it almost a whole continent or two.

    I honestly think these types of changes in National monetary policy in the next few months will be written into the history books as the Great race to the top. #HyperBitcoinization

    submitted by /u/MGTOW_and_Bitcoin
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    Paid a lightning invoice with Euros at Miami Bitcoin 2021. All within 2 seconds! This is the power and speed of the Lightning Network

    Posted: 08 Jun 2021 05:49 AM PDT

    The Savior President is on fire!: "The world may seem dark. But there's a little orange spark of hope if you look close enough. That's all it takes to start a fire." (Zoom in on the map)

    Posted: 08 Jun 2021 05:05 AM PDT

    Paraguay joins the crypto train, says 'Bitcoin to the moon'

    Posted: 07 Jun 2021 12:34 PM PDT

    Bet 2 friends btc would be back over $60,000 on Jan 1st 2022. Smart bet?

    Posted: 07 Jun 2021 12:42 PM PDT

    I know I'm making an easy $200 but thought about doubling down

    submitted by /u/BongHitsMcGhee
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    Top White House tech critic Tim Wu holds more than $1M in Bitcoin

    Posted: 07 Jun 2021 06:34 PM PDT

    Panama To Join El Salvador and Paraguay in Bitcoin Adoption?

    Posted: 07 Jun 2021 06:28 PM PDT

    El Salvador has set the stage for the separation of money and state. Few.

    Posted: 07 Jun 2021 06:58 AM PDT

    Bitcoin has already working side chains. Rootstock (RSK), for example, allows you to simulate the Ethereum Virtual Machine (EVM), on top of Bitcoin's security and decentralization strengths. This is crazy! Layer 2 is here!

    Posted: 07 Jun 2021 02:32 PM PDT

    Long-term extremely bullish factor IMO.

    --Edit

    Info and Links:

    • Rootstock website. Smart contracts glued on top of Bitcoin. Uses a 1:1-pegged Token (rBTC) to pay for "gas" and can run Ethereum contracts.
    • DeFi on Bitcoin using Rootstock, exchange, lending, staking etc
    • An overview of the RSK ecosystem is here (thanks /u/yr-mooning)
    • Why not Layer 3?! Check out RGB which enables smart contracts on top of the Lightning Network! 🧠💥
    submitted by /u/ANAL-Inverter-2000
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