Bitcoin ELI5: What makes Bitcoin so valuable to humanity? Lightning Network and Taproot. |
- ELI5: What makes Bitcoin so valuable to humanity? Lightning Network and Taproot.
- Daily Discussion, July 24, 2021
- Amazon Is Getting Serious About Accepting Bitcoin For Payment
- Kazakhstan is the becoming a centre of attraction for Bitcoin mining due to its cheap electricity.
- Pepe Vs. Elon Musk (FT Jack Dorsey) #Bitcoin
- BTC-ing out of a bad situation
- "The simple truth is that the Bank of England and the Federal Reserve want it to be physically impossible for parents to do the right thing and put cash aside for their kids."
- I am extremely proud and excited to announce that the Lightning Network (❤️⚡️) can actually handle payments of substantial size if the correct paths and amounts are chosen. Received (and send back) 0.3679 BTC yesterday on Mainnet with optimal MPP splits with a total of 345 different paths! ❤️⚡️
- Secretly holding
- 3D Printed my own Bitcoin keychain and wall decor ����♂️��
- It's happening! Amazon Payments Acceptance & Experience team is seeking an experienced product leader to develop Digital Currency and Blockchain strategy and product roadmap. The roadmap including the customer experience, technical strategy and capabilities as well as the launch strategy.
- Amazon is hiring a digital currency and blockchain expert, signaling a growing interest in cryptocurrency
- Crypto Margin Trading EXPOSED!
- Bitcoin made a better person!!!!
- JP Morgan's Wealth Management CEO Mary Callahan Erdoes on Bitcoin: “A lot of our clients say, ‘That’s an asset class, and I want to invest,’ and our job is to help them put their money where they want to invest.”
- How do i make a Bitcoin wallet?
- Greener Days Are Coming – 4 Reasons To Be Optimistic About Bitcoin for the Next Months
- US Dollars are created by a debt-based pyramid scheme, fronted by an investment-based Ponzi scheme. Learning this is what converted me into a Bitcoin HODL’r years ago without ever looking back
- How Bitcoin's Lightning Network Works
- Bitcoin Is Moving To Strong Hands As Small Holders Are Proving To Be A Rising Force
- Jack Dorsey says bitcoin will be a big part of Twitter’s future
- Origin of bitcoin
- The emotional component of running your own node
- Europe's largest Bitcoin ETP is going carbon neutral due to investor demands for ESG.
- Crypto arbitrage globally
- Mary Callahan Erdoes: Bitcoin is an “asset class” and people wants to invest in it.
| ELI5: What makes Bitcoin so valuable to humanity? Lightning Network and Taproot. Posted: 23 Jul 2021 10:58 AM PDT
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| Daily Discussion, July 24, 2021 Posted: 23 Jul 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. [link] [comments]  | ||
| Amazon Is Getting Serious About Accepting Bitcoin For Payment Posted: 23 Jul 2021 11:37 AM PDT
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| Kazakhstan is the becoming a centre of attraction for Bitcoin mining due to its cheap electricity. Posted: 23 Jul 2021 09:58 PM PDT The central-Asian country is one of the most attractive locations owing to its availability of cheap power. In the last two months, BIT Mining and Canaan have both started operations in Kazakhstan. Given the current spike in demand from miners. Yesterday Bitmain, has announced a collaboration with ENEGIX to host the Bitmain Antminer S19 Pro at their 180MW that's in Kazakhstan. The current 180MW building, which started operating in late 2020, is the company's third data center. It is intended to house over 50,000 current-generation mining equipment. Source: Cryptocurrency News [link] [comments]  | ||
| Pepe Vs. Elon Musk (FT Jack Dorsey) #Bitcoin Posted: 23 Jul 2021 05:21 AM PDT
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| BTC-ing out of a bad situation Posted: 23 Jul 2021 01:29 PM PDT TLDR: bitcoin gives me something to hope for. I don't come from poverty, just a standard middle class upbringing. In many ways I had everything I needed, but lost a lot as time went on. I lost my dad. I lost a lot of friends, and now I feel like I'm losing my mom to alcoholism. I work hard, and try to keep everything together but it never feels like enough, and the dread of impending, increasing living/housing costs.. not just for me, but my future children.. feels like a lead weight on my shoulders. I can't even watch the news anymore, listening to politicians tell me that inflation is "good, actually" just makes me feel sick. 2 years ago I started to read about bitcoin. It sounded fresh and alternative and.. hopeful. I didn't invest until Aug 2020, buying 1 btc for around 10k. This was what I'd saved for my future (not my essentials), and I basically thought "if this turns out to be something small.. at least it's something in the sea of nothing, and that would be worth the risk". People told me I was stupid of course. But, I researched and I stayed strong. And here I am today, 3x up in a 'dip'. Even in the worst most uncertain times, btc represents hope for me. When I'm struggling with my day-to-day, I just remember that there's a light at the end of the tunnel and that everything I do doesn't have to just burn away to nothing. That I can protect my earnings and secure my future, myself. I'm really grateful for this community, and appreciate everyone. Thank you. Update: Wow, I just logged in to find such a supportive response. I had a rough sleep but seeing this put some energy in me. Thank you all so much for the kindness it means a lot to me. I'll be sure to pass it on next time I see someone in need of positive words. [link] [comments]  | ||
| Posted: 23 Jul 2021 03:03 PM PDT
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| Posted: 24 Jul 2021 03:41 AM PDT
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| Posted: 24 Jul 2021 01:32 AM PDT How many of you secretly hold your cryptocurrency, to a point that even your partner dosnt know the extent of your holdings? [link] [comments]  | ||
| 3D Printed my own Bitcoin keychain and wall decor ����♂️�� Posted: 23 Jul 2021 08:35 PM PDT
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| Posted: 23 Jul 2021 06:31 AM PDT
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| Posted: 23 Jul 2021 06:11 PM PDT
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| Crypto Margin Trading EXPOSED! Posted: 23 Jul 2021 08:35 AM PDT If you are trading crypto with leverage on Bybit, Phemex, Bitmex, FTX, BINANCE futures or any other exchange that offers leverage, STOP right now, it is all RIGGED!!! The exchanges pay big fees to the (CME) Chicago Mercantile exchange Globex and other financial institutional firms to use "Hitmen" (high frequency trading bots) that are programmed to hunt your stop-loss' and liquidate your positions with-in certain percentages from your entry. In turn, the CME and institutional firms steal your crypto and the exchanges make further billions in fees. *CME charts are also delayed by 10mins unless you pay an additional Tradingview fee to unlock the live version. There is also the exchange fine print which should be thoroughly studied before executing any margin trade, which most traders will never look into or find out about until it's too late. A couple of examples: (Bybit) 1.) An order can be executed and closed by the exchange (LTP) "Last traded price", but can be liquidated by the "Mark price" (the price that reflects the real-time spot price, which is referenced from five other major exchanges: Coinbase, Binance, Gemini, Bittrex & Kraken), even if the current candle did not reach your liquidation price. Furthermore, to see the live Mark price, you must set up the .MBTC, BYBIT indicator to it's correct settings of... Inputs: Low or High (depending if you are Long or Short), and Style: Precision: 4 , Override Min Tick: 1/1000. Failing to set this up correctly can get you stopped out or prematurely liquidated (especially for scalpers). 2.) You can get paid a maker rebate fee of -0.025% (of your trade value) by executing a limit trade, ticking the post only check box and closing that trade using the limit function. The catch is, when using the limit button to close a trade, you must priorly set a worse or better price depending if you are Long or Short. *If you instantly close your trade using the limit button, the maker fee will be forfeited and you will be charged a market Taker fee of 0.075%. None of this is ever mentioned to retail traders in order to charge you the maximum in fees possible! Other major concerns that I have noticed are paid YouTuber partnerships pushing margin trading on new traders that have absolutely no experience for a $10 per customer commission fee. Yes, "The Moon, MMCrypto, Davincij15, Ivan, Bitboy" and more... are all getting hundreds of thousands of dollars paid to them in affiliate commissions from each exchange for trapping innocent people. Bybit has also been seen monitoring and defending comments on The Moon and MMCrypto twitter pages as of recent when they went down from a possible DNS attack. In summary: There is a reason that 98% of traders have lost more than they have made trading with Margin. The system is designed and stacked so far against the average retail trader, that you will end up losing everything you deposit. Goodluck to you all, I hope this saves some of you in the future. HODL and win! [link] [comments]  | ||
| Bitcoin made a better person!!!! Posted: 23 Jul 2021 08:11 PM PDT Sorry for the long post but hear me out..I made plenty of mistakes initially when I came into crypto space. Went after alts and shitcoins and should have ended up with more Bitcoins than what I have right now. All of this happend cos I didn't 'DYOR' and had very little clue about the space. Once I went in the Bitcoin rabbit hole..I have learned so much that now I am a different person and feel better about myself. Things I learned - 1.) I understand finance and money much better now 2.) I used to be quite pro govt and used to trust the authority. I now understand how these guys use fiat money to fund war and use the central banking system to benefit themselves 3.) You guys might remember that in 2016 Govt of India made 500 and 1000 rupee bills illegal tender in name of curbing black money and stopping money laundering and replaced it with new currencies. All of this was annouced overnight and from next day the 500 and 1000 rps bills that people held had no value. I was stupid enough to support this and trust the Govt in this move. After going down the Bitcoin rabbit hole I realised that how wrong and dangerous this move from the Govt was and how stupid I was to trust them. Many poor and middle class people suffered due to this move. Rich weren't even affected cos they had power and contacts they find loopholes. 4.) After this I realised the importance of Bitcoin. I understood what decentralization means and why it is important. Words like censorship resistance and be your own bank started making sense. 5.) I won't lie - I have cheered the powerful countries invading the less powerful in name of "Fight against Terrorism" and "ending dictatorship" cos I belived they were right. I realized how these invasion were made possible due to central banking policies and printing money. I don't do that anymore and understand the struggles of the less priviliged nations. 6.) I am not saying that with Bitcoin Standard there will be no wars. Humans are shit and will kill each other regardless but funding wars won't be that easy with Bitcoin Standard. Number of wars will go down significantly. 7.) I was foolish to think that poor people stay poor cos they don't work hard, they are lazy and stupid and blah blah blah. After going down the rabbit hole I learned how inflation is eating away the little savings that these people manage despite working hard and living on bare minimum expenses. I realized due to lack of credit history they never get loans to help educate themselves or their kids or start a business. If they borrow money from some unregulated borrower then they get ripped off due to insane interest rates and frauds. Its like being stuck in a endless loop of poverty with no way out. I no longer look down upon poor people and feel empathic towards them. I feel I am a better person now and all this happend cos I went in the Bitcoin rabbit hole. If anyone of you haven't read enough on Bitcoin then pls pls go for it. Read 'The Bitcoin Standard', 'The Bullish Case for Bitcoin' and watch all those documentaries. This will be your best investment. Some resources --- https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc1 https://www.youtube.com/watch?v=6jSm9vTBGKU&ab_channel=YouTubeMovies https://www.youtube.com/watch?v=SMtdXB6g6HI&ab_channel=WhatBitcoinDid [link] [comments]  | ||
| Posted: 23 Jul 2021 09:31 PM PDT
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| How do i make a Bitcoin wallet? Posted: 23 Jul 2021 11:52 PM PDT | ||
| Greener Days Are Coming – 4 Reasons To Be Optimistic About Bitcoin for the Next Months Posted: 23 Jul 2021 10:56 AM PDT After quickly falling below the psychological barrier of $30K, the price of Bitcoin has just rebounded to above $32K. However, it is not certain that the price of Bitcoin will climb back up to $40K quickly. Several resistances will have to be broken for this to happen. The current situation with the price of Bitcoin moving sideways between $29.5K and $34K could continue throughout the summer. Even so, the fact that the Bitcoin price has held up like this after the $30K mark was lost suggests that the market has already been purged of weak hands over the past few weeks. The remaining players are well aware of the opportunity that a Bitcoin around $30K represents. Their goal is to accumulate as much BTC as possible in this price range in anticipation of what lies ahead for Bitcoin in the next months. By taking a step back to see the bigger picture, you will be able to understand why greener days are ahead for Bitcoin in the coming months. In what follows, I highlight the 4 main reasons why I think so. The Bitcoin network continues to grow Since the Bitcoin price crash in May 2021, many observers have made the mistake of focusing solely on the price of Bitcoin. This short-sightedness prevents them from seeing the bigger picture. The only thing these people see is that the price of Bitcoin is currently 50% below its April 2021 All-Time High (ATH) near $65K. That being said, you must learn to focus on the fundamentals of Bitcoin. These are far more telling of Bitcoin's long-term success than the short-term volatility of its price. If you make this crucial intellectual effort, you will see that the Bitcoin network continues to grow month after month since the beginning of 2021: The number of users of the Bitcoin network has reached an ATH in the past month. This number is far more important than the current price of Bitcoin. Bitcoin adoption continues to grow block by block. This is something Bullish for the coming months. Bitcoin's Hash Rate is already rebounding China's ban on Bitcoin has caused many miners in several parts of China to shut down their equipment. The Bitcoin Hash Rate has inevitably suffered as a result. This caused a major drop that had some observers unnecessarily worried. Since then, we have seen the great exodus of Bitcoin mining from China to the West. What seemed to some to be something ultra-negative for Bitcoin is in fact something extremely Bullish. This ban on Bitcoin mining in China will do two key things: Better decentralization of the Bitcoin Hash Rate around the world. A major improvement in the share of electricity from renewable energy sources used by the Bitcoin network. Two problems used by Bitcoin's opponents to denigrate it will be solved in the process. You can see that the Bitcoin Hash Rate is already rebounding strongly: The macroeconomic environment remains favorable to Bitcoin The ultra-aggressive monetary policies pursued by the central banks of the major economies to combat the effects of COVID-19 on the economy have highlighted the benefits of the Bitcoin system more than ever. Bitcoin brings back to light the virtues of quantitative hardening. This is in contrast to the quantitative easing that the Fed and the European Central Bank have been practicing unreasonably for years. This possibility given to central banks to print as much fiat money out of thin air as they deem necessary is the original sin of a system that will end up collapsing sooner or later. While the Fed has been denying the obvious for months, it is finally starting to acknowledge that inflation will be a problem in the months ahead. It has reached 5.4% in June 2021 in America, and for many observers, including the CEO of BlackRock, the problem is systemic. This inflation will remain at high levels for a long time. This will benefit Bitcoin as a safe haven to protect what you own. More and more investors will come to seize this opportunity in this macroeconomic environment that clearly favors Bitcoin. On-chain data confirms that the market has already been cleansed of weak hands Since the beginning of June 2021, a trend has emerged: whales have started accumulating Bitcoin again. Those players who know how to take the long view have realized that the big opportunity with Bitcoin is now. This trend has even accelerated since early July 2021: ImageBitcoin Supply held by entities with Balance 1K - 10K - Source: Glassnode Investors with at least 1,000 BTC added over 96K BTC to their holdings. While the weak hands were selling and hesitating to take advantage of the current opportunity, the whales were buying fear. The fact that Bitcoin did not see its price collapse after breaking the psychological barrier of $30K is also something that tends to confirm that the market has already been purged of weak hands. Greener days are therefore expected for Bitcoin in the coming months. It is only a matter of time in my opinion. Final Thoughts It is always difficult to know when the bottom has been reached after a Bitcoin price crash like the one we experienced in May 2021. However, there are several indications that greener days are within reach. The great opportunity with Bitcoin for the next few months is clearly now in my eyes. It's up to you to make up your own mind based on the 4 elements I've just presented. Then you will be able to make the best decision for yourself. In Bitcoin We Trust Newsletter: Everything around Bitcoin, Blockchain, and the cryptocurrency market [link] [comments]  | ||
| Posted: 23 Jul 2021 10:20 AM PDT
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| How Bitcoin's Lightning Network Works Posted: 23 Jul 2021 05:51 PM PDT
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| Bitcoin Is Moving To Strong Hands As Small Holders Are Proving To Be A Rising Force Posted: 23 Jul 2021 12:48 PM PDT
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| Jack Dorsey says bitcoin will be a big part of Twitter’s future Posted: 23 Jul 2021 05:21 AM PDT
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| Posted: 23 Jul 2021 11:30 PM PDT One of the fun fan theories I've seen recently is that Satoshi was a time traveler from the future who returned to give us all Bitcoin. Bitcoin's origin story / mythology is an under-rated aspect of its appeal. [link] [comments]  | ||
| The emotional component of running your own node Posted: 23 Jul 2021 07:23 PM PDT There is a debatable amount of financial value to running your own node from a pure economic point of view. But my node was down after a power outage and resync for two days. This is when I saw the emotional aspect to having my own node. My node getting knocked out gave me the same feeling of disconnection as you get if your phone fails and you have a day or two while you are replacing it. The financial: About a month or two ago, I spent 0.00'39 BTC (130 USD) on the hardware for a Pi to run Umbrel. I have about 0.15 BTC (5,200 USD) on it for lightning network (totally an unneeded expense) Labor: I probably screw around on the Pi about 30 minutes a day, checking stats, balancing channels, etc. This is essentially a hobby since I will never have a node that generates any appreciable number of sats. Hell, I probably lose sats because I burn them inefficiently to make sure the channels are balanced. Utility: I was surprised how quickly my little node became a major part of my bitcoin life. In the days of the resync while it was down:
Running a node is addictive. I think I need to buy a UPS so that the frequent power outages here do not knock my node out for days like this. [link] [comments]  | ||
| Europe's largest Bitcoin ETP is going carbon neutral due to investor demands for ESG. Posted: 23 Jul 2021 10:18 PM PDT
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| Posted: 23 Jul 2021 10:11 PM PDT Hi guys, I noticed something really interesting today my friend in India sent me some BTC and when I checked the amount its was around $100 less than what he was supposed to send. I then checked the rates of the exchange he used and it seems almost every major exchange in India has a good difference in their prices not only in BTC but all the other cryptos.. So now my question became why hasn't anyone taken advantage of this opportunity.. i know the margin isn't really great you would make something closer to $1200-1500 on 1 BTC but it definitely made me curious as to someone doing this on a big scale and profiting.. Would love to hear the communities thoughts! [link] [comments]  | ||
| Mary Callahan Erdoes: Bitcoin is an “asset class” and people wants to invest in it. Posted: 23 Jul 2021 01:24 PM PDT
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