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    Bitcoin Daily Discussion, July 04, 2021

    July 04, 2021

    Bitcoin Daily Discussion, July 04, 2021

    Daily Discussion, July 04, 2021

    Posted: 03 Jul 2021 10:05 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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    Paraguay becomes second country to propose a bill to make Bitcoin legal tender

    Posted: 03 Jul 2021 04:06 PM PDT

    My wife convinced herself and myself to not sell off our BTCs, which we entirely financed with her salary, in the current crash. She comes from a financially damaged country and believes BTC is the only hope.

    Posted: 04 Jul 2021 12:53 AM PDT

    More adoption… convenience store, Dublin city centre 04/07/21

    Posted: 04 Jul 2021 03:47 AM PDT

    In honor of John McAfee, I will not sell my Bitcoin until it reaches 1 million dollars

    Posted: 03 Jul 2021 06:45 PM PDT

    Title says it all

    submitted by /u/nosa_Fur
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    Why is bitcoin moving sideways eventho we have the most bullish news for bitcoin more than 8 years combined? The chart and the sentiment isn’t adding up.

    Posted: 04 Jul 2021 12:36 AM PDT

    Republican senator Cynthia Lummis invites Bitcoin miners to Wyoming

    Posted: 03 Jul 2021 09:19 PM PDT

    Honest Government Ad | Anti Encryption Law

    Posted: 03 Jul 2021 10:55 PM PDT

    California Congressional candidates against Bitcoin ban, oppose Brad Sherman.

    Posted: 04 Jul 2021 03:43 AM PDT

    I just finished reading "The Bitcoin Standard," and have been listening to podcasts from Bitcoin Audible and spending time on this sub. So I've heard all the reasons to love Bitcoin. I'd be a lot more enthusiastic if I saw these 3 drawbacks being addressed.

    Posted: 03 Jul 2021 08:55 PM PDT

    Edit 2: thanks for all the helpful answers and encouragement. Signing off until tomorrow.

    I'm not saying that these problems are insoluble, just that I haven't heard the solutions yet, and this seems like a good place to look for answers.

    1) The tactics I've heard to prevent being tortured to turn over your private key don't cut it. They include arming yourself, being cautious, and keeping mum that you even own Bitcoin. But look down the road a bit, say 40 years. If Bitcoin becomes our primary currency, that everyone owns, you can safely assume that the guy in a pricey zip code with a Maserati has plenty of Bitcoin, just like we can now assume that he has plenty of dollars. Kidnappings and home invasions would be through the roof. Well-paid professionals would need bodyguards 24/7.

    Edit: by "well-paid professionals" I mean lawyers and engineers who may have $500K in savings after 20 years of working, not $100 million. Yes, there are people who would torture you for $500K. Lawyers and engineers do not currently need bodyguards.

    My problem with multi-sig is this: suppose you have keys held by your wife and father. You know how to reach them, and the thugs torturing you know that you know how to reach them. They could keep torturing you until you DO reach them and they turn over the keys.

    2). If the cost of energy were to drop dramatically (say 98%) as a result of new technology, would proof of work still matter? (If there are no hard costs, but only time to mine Bitcoins?) Our current tech would seem like magic to a person from 50 years ago, so who knows what the next 50 years will bring?

    3). With every transaction recorded in the blockchain, are we sure there is no way for governments to identify who paid x satoshis for a night with 3 hookers and cocaine? Be a shame to have that info sent to your wife.

    I sincerely hope that all the shouting about Bitcoin is justified. If anyone can shed light on these concerns, I'd be most grateful.

    Edit: for people like Savannahgrace, I refer you to "The Bitcoin Standard," that lays out how Bitcoin differs from fiat currency.

    submitted by /u/rabbits_dig_deep
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    The Biggest Downward Bitcoin Difficulty Adjustment Has Occurred — Everything Is Working As Planned. That's Bullish for Bitcoin.

    Posted: 04 Jul 2021 01:35 AM PDT

    What is enough?

    Posted: 03 Jul 2021 11:31 PM PDT

    I am buying Bitcoin since 2011. Even today I buy more. What I found out is that once you reach your milestone of the bitcoin amount you want to own your brain simply creates a new goal. I currently own dozens of Bitcoin. I absolutely dont know what whould I will spend all those bitcoin on but all I know I want more Bitcoin. I think it may be a mental illness. I dont want to spend a single satoshi. Do you think I got the Smaugh illness?

    submitted by /u/IndependentPassage52
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    Lightningnetwork.plus just reached the first 100 completed liquidity swaps. Congrats!

    Posted: 04 Jul 2021 05:02 AM PDT

    Bitcoin isn’t for making gains in fiat

    Posted: 04 Jul 2021 01:20 AM PDT

    It's an alternative/superior form of money. It's not an investment in the sense that you buy it and then sell it for more dollars or other fiat.

    Any modified replica on any other blockchain cannot and will not be a solution to the fiat money scam, just more money printing in digital form. All shitcoins are scams. Hodl your bitcoin and the only number that needs to go up is the number of sats to your name.

    This is my opinion. Do your own research.

    submitted by /u/its_me_ur_boss
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    Who is going to tell them?

    Posted: 03 Jul 2021 02:31 PM PDT

    On-chain analysis, a way to extrapolate bitcoin fundamentals and market conditions through studying the blockchain (reading the ledger so to say), suggests that the vast majority of big players are currently heavily buying bitcoin.

    Posted: 04 Jul 2021 05:21 AM PDT

    Michael Saylor and Sven Henrich Discuss Bitcoin and Crypto Market

    Posted: 04 Jul 2021 04:15 AM PDT

    Bitcoin accepted in Sonsonate, El Salvador. Let’s fucking go!

    Posted: 03 Jul 2021 10:24 AM PDT

    Bitcoin Is Still 9th Largest Asset By Market Capitalization In the World.

    Posted: 03 Jul 2021 11:55 PM PDT

    The leading crypto asset bitcoin is still the ninth most valuable asset in the world in terms of market capitalization. Bitcoin (BTC), with its $648 billion market valuation, is still among the top assets in the world above firms like JPMorgan Chase, Nvidia, Visa, Alibaba, and Taiwan Semiconductor Manufacturing Company (TSMC). Bitcoin's valuation is four times the size of businesses like Phillip Morris, the Royal Bank of Canada, Anheuser-Busch, and Citigroup.

    submitted by /u/Zalkifl_Savage
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