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    Bitcoin Daily Discussion, June 30, 2021

    June 30, 2021

    Bitcoin Daily Discussion, June 30, 2021

    Daily Discussion, June 30, 2021

    Posted: 29 Jun 2021 10:01 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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    WTF, we need younger and smarter politicians: "Government must have power to reverse crypto transactions", says co-chair of blockchain caucus.

    Posted: 29 Jun 2021 07:27 PM PDT

    Anti Fiat Social Clu₿

    Posted: 29 Jun 2021 12:43 PM PDT

    Never sell your Bitcoin?

    Posted: 29 Jun 2021 05:22 PM PDT

    Hello everyone,

    I just wanted to see what the overall consensus was on selling Bitcoin. The well-known Bitcoin advocate Mr. Michael Saylor has already stated that you should never sell your Bitcoin and that you should hold onto it for life. He argues that when you sell you're Bitcoin you're taxed, but if you hold onto it you can borrow against the Bitcoin (tax-free) at a decent interest rate. Platforms such as Block Fi offer this type of service.

    What do you guys think about this? If I double my investment during this next bull run it would be tempting not to sell a little bit for liquidity purposes. I do love Bitcoin and the direction it's going so I plan on investing in this for the long term regardless of short-term price fluctuations.

    Thanks

    submitted by /u/eaglesfan8835
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    Google has lifted its ban on crypto advertisements.

    Posted: 30 Jun 2021 03:30 AM PDT

    Google recently updated their policies regarding Google Ads and will now allow ads related to cryptocurrency exchanges and wallets provided they have registered with FinCEN. This change is set to take effect in August 2021. As you may recall, the ban was imposed in March 2018 and lasted almost three years.

    This easing of crypto advertising restrictions is a positive sign. Google appears to be warming up to bitcoin and cryptocurrency in general as many governments, financial institutions and private companies are increasingly liberalizing their crypto policies these days. What do you think?

    submitted by /u/reqgul889
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    28 Million US Customers will now be able to buy Bitcoin via their banks

    Posted: 30 Jun 2021 04:17 AM PDT

    Bitcoin is up 867% since Jan 1, 2019, surviving 13 "bear" market dips during that time.

    Posted: 29 Jun 2021 02:05 PM PDT

    Since January 1st, 2019, Bitcoin has lost 20% of its value 13 times whereas the S&P 500 index has only lost 20% of its value once. Yet many continue to apply the stock definition of a "Bear Market" to Bitcoin when they both trade very differently. Many continue to use analytics designed for the stock market for Bitcoin and they just don't work well. Click to read more

    submitted by /u/QuantifyCrypto
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    Is this a reasonable 20 year plan?

    Posted: 29 Jun 2021 07:44 AM PDT

    Bitcoin is freedom whereas CBDC's are government scams.. 80% of money we use is already digital currency issued by central banks! They just want a better way to track, trace and tax citizens/ corporations.. otherwise what's really their point?

    Posted: 29 Jun 2021 05:47 PM PDT

    Governments are racing to create their own "CBDC"s.. Central Bank Digital Currencies.

    However.. a quick look at your bank balance will tell you we're clearly already using central bank digital currency and have been doing so for many many years....

    Take the Bank Of England for example... their website couldn't be clearer....

    "Banks create around 80% of money in the economy as electronic deposits in this way. In comparison, banknotes and coins only make up 3%. Finally, most banks have accounts with us at the Bank of England, allowing them to transfer money back and forth. This is called electronic central bank money, or reserves."

    https://www.bankofengland.co.uk/knowledgebank/how-is-money-created

    Many think that CBDC'S won't even use blockchain so surely we're already using near enough what we would have... unless governments want to build in some extra special features......

    Even if people want a CBDC... surely we'd want a global currency backes by gold like money used to be...

    We have global organisations such as NATO, WHO etc why are Governments racing to build their own CBDC"s and not working on a collaborative global currency?

    The truth can only be that they still want to control whom they can screw over when!

    submitted by /u/jam-hay
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    Show Reddit: A fun way to check Bitcoin's price.

    Posted: 29 Jun 2021 03:11 PM PDT

    BitcoinTemp is a fun way to check the price of bitcoin, with the price dictating storms, sunny days, and more!

    - Josh Ternyak, 16 year old web developer

    submitted by /u/joshternyak
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    PSA: We are all El Salvador

    Posted: 29 Jun 2021 04:24 PM PDT

    PSA:

    Hey, you know how El Salvador had dollars, but when the Fed printed more, they didn't get any? (obviously).

    We are all El Salvador. The Fed printed money and covered the balance sheets of their own member banks against "insolvency". The rest of us, we will face higher prices later.

    Because we're not a hedge fund like Blackstone, Blackrock, we don't get to use the free money to buy houses.

    Unless you are standing close to the money spigot, their money printing is completely screwing you.

    Solution is to buy a hard asset like bitcoin with the fiat you've got. And/or rebalance to whatever risk/reward you think is best (I don't know your situation).

    submitted by /u/walloon5
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    +20% of people in El Salvador say they will use #Bitcoin and USD. +20% adoption in the whole country…soon the world! ��

    Posted: 29 Jun 2021 09:14 AM PDT

    Meet one of our Bitcoin Advocates Senator Cynthia Lummis (R-Wyo.), who h...

    Posted: 29 Jun 2021 11:46 PM PDT

    I am pissed.

    Posted: 29 Jun 2021 11:39 AM PDT

    I am pissed because I have a strong opinion on favor of Bitcoin. And... I'm really not a person of strong opinions. I dislike having strong opinions. I had learned earlier in life that if you have a strong opinion on something, you are already losing. There must be something you did not understand yet.

    Yet, I am pissed, because I want to find good and convincing contrarian views on Bitcoin. I have the feeling that all of the economists writing against Bitcoin are weak and mostly doing it just out of the blue: none really give signs of understanding the protocol. Arguments such "naturally formed ponzi", "tulip mania v2.0", "deflationary=bad", "infinite value? = scam" and other analogies tend to be incomplete and always lack data or evidence. It just does not make the cut for me that you are a Nobel Prize if your text does not show that you invested the minimum time to understand the protocol.

    Krugman, Roubini, the dude of r/CryptoReality, they only have partially sensible arguments that they oversell as pure truth. And I need to be convinced it is better to be in the middle ground, I want go to the next page in my life. Aren't there better thinkers? C'mon there must be provable facts against Bitcoin's monetization, right? Does anyone have any excellent contrarian texts to share? I need to become a regular human again and stop thinking 24/7 about this unstoppable force.

    I am really pissed.

    submitted by /u/darkvothe
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    Tom Brady Sends Bitcoin to the moon in video on Twitter

    Posted: 29 Jun 2021 01:46 PM PDT

    U.S. senator encourages people to buy Bitcoin for retirement

    Posted: 29 Jun 2021 12:46 PM PDT

    Bitcoin will never be gone.

    Posted: 30 Jun 2021 03:54 AM PDT

    Its been so many years since I learned of bitcoin talk. I was amaze of this kind of currency. satoshi is so bright and smart person.even though we never know him personally and where he is. Bitcoin that he made is so so amazing that's why until now I am thinking the great things happen in our life to have bitcoin. And now bitcoin was known all over the world. And they using bitcoin already as fiat that's why I do believe that bitcoin will never be gone anymore. Bitcoin will be part of our life forever.

    How about you? Do we have the same idea of bitcoin?

    submitted by /u/VeronZ76
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    This morning at Forbes... "$6 Billion NCR Opens Bitcoin Purchases To 650 Banks And Credit Unions" TLDR: Banks tired of seeing money outflow to Bitcoin exchanges, and trying to compete. Smart, but I don't know how effective. But another positive movement along adoption. Happening FAST.

    Posted: 30 Jun 2021 04:40 AM PDT

    Getting the Bitcoin whitepaper directly from the blockchain

    Posted: 30 Jun 2021 04:50 AM PDT

    Bitcoin can play tricks on your mind

    Posted: 30 Jun 2021 03:08 AM PDT

    After this latest run I thought about taking profit to get my original stake back, which is about 25% of the current value.

    But then I start thinking "No, that 25% could eventually be worth many times more in a few years...".

    ... but then I think "What if bitcoin crashes to zero, isn't it best to take my original stake out now?"

    ... and then I think "no, don't bother, if it does crash to zero, it won't happen in a flash, and you could still take your original stake out on the way down."

    Sheesh! Apart from Bitcoin, I've always bought risky shares, and I've gambled on sports... but I've never suffered these sort of mind games as you do with Bitcoin, and I imagine the only similar thing is penny stocks.

    Does anyone else play these scenarios out in their head?

    submitted by /u/sverlinas2
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    Morgan Stanley Buys Over 28,000 Shares of Grayscale Bitcoin Trust

    Posted: 29 Jun 2021 06:00 AM PDT

    Why I refuse to sell: the tomato plant parable ��

    Posted: 29 Jun 2021 07:15 AM PDT

    Bitcoin is my only tomato plant. In fact this tomato plant is the only thing I have to eat right now. It is still young, and I am extremely hungry.

    I don't know what I'm going to eat next month. I don't know if I'll even have the energy to make the trip home to see my family.

    My plant has a few small tomatoes on it, barely edible. They would maybe get me through a couple weeks or a month, but I know I'd be better off waiting until they've reached maturity before eating them. If I can wait that long, their sustenance will keep me going for much longer.

    My plant has a few small leaves on it, should I eat them to tide me over? Skim a little off the top? No. That would hinder my plant's ability to fully ripen, and the nourishment I'd get from its leaves isn't anywhere near that of a fully grown tomato plant.

    So I will be patient and wait until my plant has fat, red tomatoes before harvesting. And even then I'll save some of its seeds to plant each spring, giving me a bigger and bigger harvest each year. I might be late in making a trip back home to be with family, but at least I'll show up nourished from patient endurance and not emaciated from unripened opportunity.

    F

    submitted by /u/Forward_Cranberry_82
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    The Bitcoin Senator, Cynthia Lammis: Bitcoin Is Great For Retirement And Long-Term Savings

    Posted: 30 Jun 2021 04:51 AM PDT
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