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    Bitcoin Daily Discussion, June 12, 2021

    Bitcoin Daily Discussion, June 12, 2021


    Daily Discussion, June 12, 2021

    Posted: 11 Jun 2021 10:02 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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    The Bitcoin Taproot software upgrade has just locked in...

    Posted: 12 Jun 2021 05:04 AM PDT

    ...let the bull market resume.

    submitted by /u/LighteningNetwork
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    Honduras and the Caribbean islands have also passed laws – with much less fanfare – that will use bitcoin as access to the global economy

    Posted: 12 Jun 2021 10:48 AM PDT

    Taproot locked in!

    Posted: 12 Jun 2021 05:06 AM PDT

    One of Hal Finney’s last posts on bitcointalk.org. RIP. It gives me hope. You should know him. Cypherpunks Never Die!

    Posted: 12 Jun 2021 11:35 AM PDT

    Bitcoin and me ( Hal Finney )

    March 19, 2013

    I thought I'd write about the last four years, an eventful time for Bitcoin and me.

    For those who don't know me, I'm Hal Finney. I got my start in crypto working on an early version of PGP, working closely with Phil Zimmermann. When Phil decided to start PGP Corporation, I was one of the first hires. I would work on PGP until my retirement. At the same time, I got involved with the Cypherpunks. I ran the first cryptographically based anonymous remailer, among other activities.

    Fast forward to late 2008 and the announcement of Bitcoin. I've noticed that cryptographic graybeards (I was in my mid 50's) tend to get cynical. I was more idealistic; I have always loved crypto, the mystery and the paradox of it.

    When Satoshi announced Bitcoin on the cryptography mailing list, he got a skeptical reception at best. Cryptographers have seen too many grand schemes by clueless noobs. They tend to have a knee jerk reaction.

    I was more positive. I had long been interested in cryptographic payment schemes. Plus I was lucky enough to meet and extensively correspond with both Wei Dai and Nick Szabo, generally acknowledged to have created ideas that would be realized with Bitcoin. I had made an attempt to create my own proof of work based currency, called RPOW. So I found Bitcoin facinating.

    When Satoshi announced the first release of the software, I grabbed it right away. I think I was the first person besides Satoshi to run bitcoin. I mined block 70-something, and I was the recipient of the first bitcoin transaction, when Satoshi sent ten coins to me as a test. I carried on an email conversation with Satoshi over the next few days, mostly me reporting bugs and him fixing them.

    Today, Satoshi's true identity has become a mystery. But at the time, I thought I was dealing with a young man of Japanese ancestry who was very smart and sincere. I've had the good fortune to know many brilliant people over the course of my life, so I recognize the signs.

    After a few days, bitcoin was running pretty stably, so I left it running. Those were the days when difficulty was 1, and you could find blocks with a CPU, not even a GPU. I mined several blocks over the next days. But I turned it off because it made my computer run hot, and the fan noise bothered me. In retrospect, I wish I had kept it up longer, but on the other hand I was extraordinarily lucky to be there at the beginning. It's one of those glass half full half empty things.

    The next I heard of Bitcoin was late 2010, when I was surprised to find that it was not only still going, bitcoins actually had monetary value. I dusted off my old wallet, and was relieved to discover that my bitcoins were still there. As the price climbed up to real money, I transferred the coins into an offline wallet, where hopefully they'll be worth something to my heirs.

    Speaking of heirs, I got a surprise in 2009, when I was suddenly diagnosed with a fatal disease. I was in the best shape of my life at the start of that year, I'd lost a lot of weight and taken up distance running. I'd run several half marathons, and I was starting to train for a full marathon. I worked my way up to 20+ mile runs, and I thought I was all set. That's when everything went wrong.

    My body began to fail. I slurred my speech, lost strength in my hands, and my legs were slow to recover. In August, 2009, I was given the diagnosis of ALS, also called Lou Gehrig's disease, after the famous baseball player who got it.

    ALS is a disease that kills moter neurons, which carry signals from the brain to the muscles. It causes first weakness, then gradually increasing paralysis. It is usually fatal in 2 to 5 years. My symptoms were mild at first and I continued to work, but fatigue and voice problems forced me to retire in early 2011. Since then the disease has continued its inexorable progression.

    Today, I am essentially paralyzed. I am fed through a tube, and my breathing is assisted through another tube. I operate the computer using a commercial eyetracker system. It also has a speech synthesizer, so this is my voice now. I spend all day in my power wheelchair. I worked up an interface using an arduino so that I can adjust my wheelchair's position using my eyes.

    It has been an adjustment, but my life is not too bad. I can still read, listen to music, and watch TV and movies. I recently discovered that I can even write code. It's very slow, probably 50 times slower than I was before. But I still love programming and it gives me goals. Currently I'm working on something Mike Hearn suggested, using the security features of modern processors, designed to support "Trusted Computing", to harden Bitcoin wallets. It's almost ready to release. I just have to do the documentation.

    And of course the price gyrations of bitcoins are entertaining to me. I have skin in the game. But I came by my bitcoins through luck, with little credit to me. I lived through the crash of 2011. So I've seen it before. Easy come, easy go.

    That's my story. I'm pretty lucky overall. Even with the ALS, my life is very satisfying. But my life expectancy is limited. Those discussions about inheriting your bitcoins are of more than academic interest. My bitcoins are stored in our safe deposit box, and my son and daughter are tech savvy. I think they're safe enough. I'm comfortable with my legacy. [edited slightly]

    submitted by /u/legionofshroomz
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    Halfway there to a whole BTC

    Posted: 12 Jun 2021 04:37 AM PDT

    Today I have managed to acquire half a full Bitcoin! Hoping to have a whole BTC by the end of the year!

    submitted by /u/Zeeblackbaron
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    UPDATE: Ross was let out of the SHU last night! He is back in his unit. Thank you all for your support! ��

    Posted: 12 Jun 2021 03:43 AM PDT

    The man who orange pilled Michael Saylor. I’ve also been excited that those in these developing nations have been able to buy in at a discount instead of a run up. Thanks to everyone selling us the cheap coin!

    Posted: 12 Jun 2021 12:17 PM PDT

    Houston, we have lock in!

    Posted: 12 Jun 2021 05:35 AM PDT

    Whale’s Purchase on Bitcoin Is Rising

    Posted: 12 Jun 2021 11:11 AM PDT

    Bitcoin's Taproot upgrade will lock in tomorrow and will activate at block 709,632 in November

    Posted: 12 Jun 2021 05:26 AM PDT

    I looked into some users and discovered that this person is a certified millionaire hidden among us

    Posted: 12 Jun 2021 02:01 PM PDT

    The Big Short

    Posted: 12 Jun 2021 06:27 AM PDT

    I saw yesterday again this great movie. This time it had two effects on me: 1. it reinforced the idea of why BTC is necessary and 2. it made me realize the very short-term memory that people have, particularly, on how the financial actors (government, raters, media, banks) could negligently or maliciously behave.

    submitted by /u/PlaneAdvantage5542
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    9 Years

    Posted: 12 Jun 2021 12:37 PM PDT

    Today is my reddit/bitcoin cake day, and taproot just finished signaling. What a day!!!!

    Cheers to all of you Spartans, and here is to 9 more years of brutal battles, great friendships, and conquering the evil Fiatians !

    submitted by /u/Cab000se
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    Bring on the "then they fight you" stage.

    Posted: 12 Jun 2021 12:15 AM PDT

    Probably the most ironic thing about this move by El Salvador is that the more the US and the IMF try to stop them from using a politically neutral monetary network the more the world will see just how important bitcoin is for sovereignty.

    The more they fight other countries adopting bitcoin the more they expose themselves as the worlds financial authoritarian gatekeepers.

    Bring it on

    submitted by /u/slvbtc
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    Why I bought BTC

    Posted: 12 Jun 2021 02:52 AM PDT

    I have bought 0.001BTC and a small portfolio of crypto. I hodl. What's on my mind? Am I want a Lambo? Am I want to go to the Moon? No. I am simply a person hoping for the crypto platform to stay alive. Why? I want to send my hard earn money back to my parents to make their lives better, securely without paying expensive fee. Before i discover crypto, the fee i have to pay every month is worth a full meal for a full month. That's all! I don't need lambo. And i definately not interested to go to the moon.

    submitted by /u/Agreeable_Spring5816
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    Dollar’s Purchasing Power Plunged at Fastest Pace since 1982

    Posted: 12 Jun 2021 02:33 AM PDT

    Paraguay May Be Next to Seek Crypto Businesses - CoinDesk

    Posted: 12 Jun 2021 03:47 AM PDT

    This is Why Bitcoin .it doesn't matter if you are a law abiding citizen.they will just take it until you prove you are not a criminal . with BTC your Mind is the best Safe deposit ... : The FBI wants to keep millions in cash, gold, jewels from a Beverly Hills raid. Is it an abuse of power?

    Posted: 12 Jun 2021 05:59 AM PDT

    I use the Lightning Network every day and I onboard pre-coiners constantly using Phoenix wallet, Breez, Muun, and Wallet of Satoshi.

    Posted: 12 Jun 2021 04:34 AM PDT

    Lightning works. And it's almost free. Simple as that. Bitcoin the payment system is here.

    submitted by /u/ANAL-Inverter-2000
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    I need help. I'm retired, live and sleep Bitcoin. My family doesn't get it, but like a man who sees a flood coming, I want to get them on the Ark. I want to "gift" them a small amount of Bitcoin to get them interested. Even my kids aren't going to get the hardware wallet thing. Ideas?

    Posted: 12 Jun 2021 06:47 AM PDT

    Despite the Dip, Willy Woo's Model Predicts Bitcoin Hitting $200K+ By Late 2021 (1-minute audio clip)

    Posted: 12 Jun 2021 04:05 AM PDT

    Taproot Party?

    Posted: 11 Jun 2021 09:05 PM PDT

    7 odd hours until Taproot locked in for activation in October. For anyone who lived through the 2017 fork wars, this feel quite cathartic. I think many of us were worried we would see the same kind of FUD, bullshit, lies and just general madness which happened, and it feel FUCKING GOOD that this got through mostly fine, with some arguments around activation methods.

    Onward and upwards! Looking forward to more improvements to the network, and Bitcoin continuing to claim it's role as the settlement layer of record. It will be late at night for me when it locks in, I'm going to pour a glass of very expensive single malt, and silently salute everyone who worked on it, and every giant upon whose shoulders they stand. 10 years into my Bitcoin journey, and feel like so many of my hopes of what it could become are being realised, I've never been more confident that the revolution would succeed. Don't fight the present, build the future!

    submitted by /u/Rules_Not_Rulers
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