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    Bitcoin Daily Discussion, July 06, 2021

    July 06, 2021

    Bitcoin Daily Discussion, July 06, 2021

    Daily Discussion, July 06, 2021

    Posted: 05 Jul 2021 10:04 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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    Words of Wisdom by The Man himself ��

    Posted: 05 Jul 2021 11:18 AM PDT

    fuck the media

    Posted: 06 Jul 2021 12:19 AM PDT

    It’s not worth risking a 5-6 figure gain over a few thousand dollars

    Posted: 05 Jul 2021 07:09 PM PDT

    For a bit of context, I sold out of all my stocks in May after seeing Bitcoin drop from its ATH. Since then, I've been waiting on the sidelines to buy in. In that time, my would-be stock positions have risen 20-30K in total while I've been sitting on cash waiting for the right moment to buy into Bitcoin.

    I recently decided to say fuck it and pull the trigger on BTC at 33K. It dipped as far as 28K, and a part of me is kicking myself over the few extra .1 BTCs I could've owned for the same $. However, the way I look at it, if this is really going to 100-150K within 1.5 years I'd have to be mentally ill to risk those types of gains over a few thousand per coin. And, if I could time the market like some god, I would quit my day job and just become a billionaire overnight buying weekly options.

    I think this is a really good price for Bitcoin and it still remains an asymmetric bet. Yes we could even revisit prior cycle's ATH of 20K, but that's highly unlikely and represents a 35% markdown from current prices. On the other hand, there is a very high probability of a move to six figures, representing a 200% gain (at least).

    Everyone has their own timeline and when to invest is their own decision to make. However, I feel pretty good about my decision to buy in recently. I'm no longer checking prices every 5 min, because I know even if I was wrong in the short term, it's not by enough to worry about, and it's not permanent.

    Also, I bought btc at 8K in 2018 and held it until 2020 when I sold at around 11K. It does hurt to have to buy less coins for 3X the price, but it's also an irrationality to let your past positions dictate your future positions. If you think something is a good investment, it doesn't matter what you sold it for in the past.

    Anyways, rant over. Just wanted to monologue a bit and point out some (probably obvious) irrational tricks our monkey brains can play on us. Bitcoin and crypto are a beast, and if you don't have the right temperament, they will buck you.

    submitted by /u/JeffGDoubleE69
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    The city of Miami is hosting the Bitcoin whitepaper on their official website

    Posted: 05 Jul 2021 12:09 PM PDT

    ��

    Posted: 05 Jul 2021 07:35 AM PDT

    If you run a node, remember to update it to support Taproot, only 27% do so far.

    Posted: 05 Jul 2021 03:27 PM PDT

    https://twitter.com/taproot_signal

    Miners did their part with the signalling, now it's up to the users.

    submitted by /u/BlockchainRevolution
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    The worst time to sell Bitcoin was 10 years ago. The second worst time is today.

    Posted: 05 Jul 2021 11:20 PM PDT

    I know people say this every day lol but somebody have to say it

    submitted by /u/Sandoval713
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    This is huge: Bitcoin Sidechains and 2L's will absorb/implement all the functionalities isolated projects (aLt-KoIns) offer now and advertise as "This is why it's better than Bitcoin".

    Posted: 05 Jul 2021 09:47 PM PDT

    Crypto News Alert: Vietnam Becomes the Latest Country to Turn to Crypto

    Posted: 05 Jul 2021 08:15 PM PDT

    Lightning Network is Amazing!

    Posted: 05 Jul 2021 08:56 AM PDT

    Purchased something from a Twitter friend in El Salvador. Sent him $72 dollars worth of Bitcoin using the lightning network. Transaction from my wallet to his wallet took 5 seconds and cost almost nothing.

    No banks, swift, western union, or the red tape and high cost that come along with it... just a bitcoin lightning wallet.

    #Bitcoin fixes remittance transactions.

    submitted by /u/rapierce0238
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    Dollar not "fiat money"? "Ok, cuckbucks it is." - Saifedean

    Posted: 05 Jul 2021 11:46 AM PDT

    Nearly 4,000 German institutional funds can now allocate 20% to crypto

    Posted: 05 Jul 2021 01:18 PM PDT

    We're at the turning point. Brace yourselves for the next 6-7 months to the moon

    Posted: 06 Jul 2021 01:04 AM PDT

    I've seen this before in 2013. Price crashed in april. Then soared in december (and crashed again in january). I've seen this in 2017. Price soared in december. And I'm seeing it now. Price is gonna soar in december. We've hit this bottom. If short-sellers could drag this to 0$, they would have. But they couldn't. They've run out of coins to burn. This is caleld the calmth before the storm. People are waiting to see who'll go first. But once we break 40k (soon) .... it's gonna be a FOMO like you aint never seen before. All the way to 1.2 million USD per coin. We're going 30x from here. Normally its 10x from here, but now we've get loads of people doing 3x or 10x leverage shit. That's why. We're going 30x.

    submitted by /u/kleintjeskrant
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    Bitcoin exchange supply hits a 6-month low as accumulation continues

    Posted: 05 Jul 2021 11:15 PM PDT

    Michael Saylor: Bitcoin is a Safe Asset if The Bond Market Collapses & Taxation Ramps Up - 6/3/2021

    Posted: 05 Jul 2021 11:11 PM PDT

    Invest in Bitcoin?

    Posted: 05 Jul 2021 11:14 PM PDT

    I've been following BTC for a while. Should I invest now.
    I'm

    submitted by /u/Temporary-Nail6751
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    Bitcoin & Crypto Taxes Worldwide - 2021 Guide

    Posted: 05 Jul 2021 09:38 PM PDT

    The following guide put together some details to help you better understand which taxes you owe for your crypto investments: Crypto Taxes 2021: A Comprehensive Guide

    Here is a brief overview of the topics covered:

    • Crypto Taxation Around The World
    • Understanding What Is Considered A Taxable Activity
    • How To Calculate Crypto Gains And Losses
    • Crypto Tax Terminology

    Each country has their own regulations on what tax a user needs to pay, which is also covered (for United States, Germany, United Kingdom, Japan and Israel). Some countries charge no tax on the personal use of cryptocurrencies, some of which include Malaysia, Belarus, Portugal, and several others.

    submitted by /u/cmstrump
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    Stacking? Can I earn passive income with bitcoin, even while holding the private key myself?

    Posted: 06 Jul 2021 02:57 AM PDT

    I saw in a meme here on this subreddit something about keeping BTC in a cold wallet, and using stacking to earn passive income.

    Is that a thing? How does it work? I have tried searching the web for this concept, but there are many contradictory sources, and I am not quite sure how I would go about doing it.

    submitted by /u/Fiksdal
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    Barclays are now anti crypto

    Posted: 05 Jul 2021 07:32 AM PDT

    I just received a text message from barclays that they will no longer allow me to send money to binance, they haven't given a valid enough reason as to why I cant spend my own hard earned fiat on things of my choice so I am looking to change banks. Can anyone suggest a crypto friendly, modern thinking bank that I can use in the UK please? Thanks in advance

    submitted by /u/honestopinionallday
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    The Guardian's latest hatchet piece on Bitcoin is atrocious

    Posted: 05 Jul 2021 04:29 PM PDT

    I know The Guardian is not the best news source, I normally only read geo-political type stuff on there, breaking news etc. It's mostly bullshit but this piece really got me pissed off:

    https://www.theguardian.com/commentisfree/2021/jul/05/cryptocurrencies-financial-system-digital-future

    They've gone really downhill recently with their crypto articles but this is a fucking joke. It's an opinion piece written by a historian, and it's total nonsense. It doesn't even mention the cypherpunk movement, or the history of digital currency (e-gold etc.), a quick nod to Hayek and then framing it as "right-wing" without context. Comparing gov coins with Bitcoin, totally blindsiding any real use cases and the usual shit.

    Then they shut the comments down after a few hours and "picked" some bullshit top comments, the comment chain is actually way more informative than the article. Loads of more informed info getting "upvotes"

    Honestly, fuck that paper. I'm gonna do the British thing and write them an email telling them I'm done with them haha - I emailed them before about paying for a subscription via bitcoin (just to see what they'd say) and actually got a well-informed, personal reply so they do read the emails you send them.

    The comment section is funny, if you have half an hour spare it might be fun to quickly make an account with guerrilla mail, and upvote all the informed comments. Just to show the bias to anyone reading through the comment section who doesn't know about crypto.

    Rant over haha, it's actually kinda funny how misinformed some mainstream articles are. Almost as if there might be some outside influence going on wink wink nudge nudge

    submitted by /u/decentralized_bass
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    Bitcoin Mining Firm Argo Blockchain Is Looking At A Secondary Listing On Nasdaq

    Posted: 06 Jul 2021 03:06 AM PDT

    Less Risk Of Major Sell off As Bitcoin Balances On Exchanges Drop To Lowest Level Since January

    Posted: 05 Jul 2021 09:36 AM PDT

    Strike Rolls Out Bitcoin Buys, Taking On Coinbase

    Posted: 05 Jul 2021 04:54 PM PDT
    Read more
    at

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