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    Monday, June 14, 2021

    Bitcoin Mentor Monday, June 14, 2021: Ask all your bitcoin questions!

    Bitcoin Mentor Monday, June 14, 2021: Ask all your bitcoin questions!


    Mentor Monday, June 14, 2021: Ask all your bitcoin questions!

    Posted: 13 Jun 2021 11:11 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, June 14, 2021

    Posted: 13 Jun 2021 10:07 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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    Be in the know, don’t be this guy����

    Posted: 14 Jun 2021 01:13 AM PDT

    President of Tanzania ���� calls on the central bank to prepare for the "use of cryptocurrency"

    Posted: 13 Jun 2021 09:29 PM PDT

    President Samia Suluhu Hassan has called on the Central Bank of Tanzania to prepare for the use of cryptocurrencies / blockchain, as it may come at a time when changes taking place elsewhere have entered Tanzania. The President issued the directive earlier today while inaugurating the Central Bank of Tanzania building in Mwanza Region, stating that technological change and the growth of globalization are making many changes, including in the financial sector.

    "We have witnessed the emergence of a new journey through the internet. I know that in the country, including Tanzania, they have not accepted or started using these trips. However, my call to the Central Bank is that you should start working on that development. The Central Bank should be ready for the changes and not be caught unprepared." President Samia instructed.

    Source: https://swahilitimes.co.tz/2021/06/rais-aiagiza-bot-kujiandaa-na-matumizi-ya-sarafu-za-kimtandao-cryptocurrency/

    The above article is in Swahili and was translated using google translate.

    Credit:

    https://np.reddit.com/r/CryptoCurrency/comments/nz1c6m/president_of_tanzania_calls_on_the_central_bank/

    submitted by /u/simplelifestyle
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    IMF board meeting when ��������������������������������������������declare Bitcoin legal tender.

    Posted: 13 Jun 2021 09:22 PM PDT

    Bitcoin Has Changed My Life

    Posted: 13 Jun 2021 09:45 PM PDT

    The best decision I ever made was to start buying Bitcoin back in 2017. Since it hit $7k, I've been putting 1% of every paycheck I get into bitcoin. That, along with the relationships I've made through different forums, has been one of the best decisions of my life. There aren't many places with this many like minded individuals and I'm so grateful for all of you. No matter what the price says, I'm still going to HODL for Life and hang on with my bitcoin family.

    submitted by /u/LittlePeterDragon
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    Sky News Australia - Bitcoin allows the public to ‘take control of our wealth and our money’

    Posted: 14 Jun 2021 12:43 AM PDT

    Did BTC literally just give a middle finger to the bears?

    Posted: 13 Jun 2021 09:37 PM PDT

    Look at that hourly chart lol

    submitted by /u/BostonBrandToots
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    U.S. Senator Pat Toomey wrote a letter to Treasury Secretary Janet Yellen explaining that “cryptocurrencies stand to dramatically improve consumers’ privacy, access to financial services, and power to make decisions for themselves.”

    Posted: 13 Jun 2021 09:27 PM PDT

    Bitcoin Just Got Its First Upgrade in Four Years, But Why Exactly?

    Posted: 13 Jun 2021 05:02 PM PDT

    This movement in price is not because of Elon.

    Posted: 13 Jun 2021 01:38 PM PDT

    It's because there are a massive amount of shorts on BTC right now and it's getting liquidated as we move higher. Expect big moves if we continue up.

    submitted by /u/HeidNuu
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    Feeling the affects of inflation. USA.

    Posted: 13 Jun 2021 11:23 PM PDT

    This is crazy. Gas in 2020 $2.85, now over $4.05 at the same time. Just tried to order Dominoes, 3 hour delivery. Verbatim on the phone with the employee "we just don't have enough employees" Same pack of bottle water I bought last week it up over 35%. I could go on but it's happening. Stock up on all the essentials, and stack up the bitcoin. Get ready. It's just like when they told us that masks aren't needed in March 2020. They are pretending it isn't happening when it's right in front of our faces. BUY BITCOIN, stock up on essentials. Don't miss out.

    submitted by /u/Parking_Meater
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    Samia Suluhu Hassan, President of Tanzania, has told the East African country’s financial chiefs to prepare for cryptocurrency following El Salvador announcement

    Posted: 14 Jun 2021 02:54 AM PDT

    Texas Senator Ted Cruz comes out as Pro-bitcoin

    Posted: 13 Jun 2021 12:13 PM PDT

    Why are old people so against bitcoin and crypto assets?

    Posted: 13 Jun 2021 08:19 PM PDT

    I have noticed that whenever I bring up bitcoin older people (50 and up) will instantly dismiss it. One of my parent's friends told me "don't be sorry when it gets close to zero" and I just shook my head and couldn't help but face palm in front of him. He's an older person whose had "45 years of financial experience" and says that bitcoin is a "new fad."

    I can't even give him a rebuttal because he doesn't listen and thinks he's right all the time. Its my responsibility to patiently "absorb his experience." All of my parents' friends think that bitcoin is some new age hype. But look at the world around us, everything is changing. We now have bitcoin vending machines in shopping malls and people are concerned about the rapid inflation in USD. Almost all of the central bank authorities at the IMF are old people who can't wrap their head around "blockchain technology."

    submitted by /u/janicehpchess
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    How do I use the Bitcoin Lightning network?

    Posted: 13 Jun 2021 09:40 PM PDT

    The Bitcoin lightning network is deemed as revolutionary and also fundamental to El Salvador in considering it as Legal tender. I saw a few videos online about how Strike app is used to transfer USD to USD using the Bitcoin lightning network converting "USD to Bitcoin" on the send side and "Bitcoin to USD" on the receiver side transparently to the user. This suggests that the txn fees and conversion fees are infinitely minimal.

    How do I take advantage of this lightning network without using Strike? I do not see any options in the Bitcoin core wallet, Exodus, Atomic wallet or even exchanges like Binance / Coinbase.

    submitted by /u/ResolutionFirm9228
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    Bitcoin: What is Taproot?

    Posted: 13 Jun 2021 06:36 PM PDT

    PSA. With taproot locked in, it is a good idea to upgrade your full nodes to Bitcoin Core 0.21.1

    Posted: 13 Jun 2021 01:55 PM PDT

    With taproot officially locked in since the last difficulty adjustment:

    bitcoin-cli getblockchaininfo "taproot": { "type": "bip9", "bip9": { "status": "locked_in", "start_time": 1619222400, "timeout": 1628640000, "since": 687456, "min_activation_height": 709632 }, "active": false } 

    and active from block 709632, it is a good idea to upgrade the full node to 0.21.1 since it is the first version fully supporting taproot. Version 0.21.0 had taproot coded but no knowledge about the activation mechanism.

    The final activation will not happen until November but it's now time to be prepared. If you don't upgrade, the old nodes will consider the taproot transactions as "anyone-can-spend" so they will continue to work but without validating their correctness.

    It is also a good idea to upgrade wallets to versions that support new taproot bech32m address format.

    For example, Electrum wallet supports bech32m since version 4.1.0.

    submitted by /u/PVmining
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    Confirmed: China Orders Yunnan's Bitcoin Miners to Cease Operating By End of June.

    Posted: 13 Jun 2021 11:58 AM PDT

    BTFD, period

    Posted: 14 Jun 2021 03:28 AM PDT

    Today I started accepting BITCOIN as a form of payment for my apparel brand VOLO. I am mostly a one man operation in the US with a team working with me in Pakistan ����. It has been quite a journey to get to this point. Accepting crypto to pay for products I designed feels pretty futuristic and cool ��

    Posted: 14 Jun 2021 01:25 AM PDT

    How Bitcoin Could Be the End of the IMF - The Tokenist

    Posted: 14 Jun 2021 01:24 AM PDT

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