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    Monday, July 12, 2021

    Bitcoin Mentor Monday, July 12, 2021: Ask all your bitcoin questions!

    Bitcoin Mentor Monday, July 12, 2021: Ask all your bitcoin questions!


    Mentor Monday, July 12, 2021: Ask all your bitcoin questions!

    Posted: 11 Jul 2021 11:14 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, July 12, 2021

    Posted: 11 Jul 2021 10:08 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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    Steve Wozniak, co-founder of Apple, speaks from Mexico: “Bitcoin is better than gold”

    Posted: 11 Jul 2021 03:39 PM PDT

    Fuck ALS

    Posted: 11 Jul 2021 09:23 AM PDT

    Well guys....sold my stack. Family is important and unfortunately my favorite uncle is not doing well. ALS from out of nowhere and it's aggressive. He has always been like a father to me. More so than my real father in fact. So I am taking off work, bringing my woman and two dogs and heading cross country to spend time with him while I still can. Unfortunately this requires me to drop my stack. So with that said, fuck ALS. I'll be back in as soon as I can. RIP H.F.

    submitted by /u/lordpickles-
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    Bitcoin has been banned many times in many geographies, and yet today, adoption is outpacing internet adoption

    Posted: 11 Jul 2021 01:09 PM PDT

    An important quote from the board director of Blockstream and founder of Stillmark, Alyse Killeen.

    I've taken the time to collect and display the important points and subheadings from an article (linked below).

    Intro

    The death of cryptocurrencies has long been prognosticated and it is proving even harder to bring down this drive. Governments have started to reconsider their previous positions on their utility as some decide to adopt and regulate them as opposed to blindly opposing their use.

    Despite being banned in some major countries such as China, Bitcoin has still held strong, which speaks to its strength and adoption.

    Here are some lessons as to why these bans keep failing

    • You cannot ban the blockchain, its code
    • Crypto is more than just about money, it's fostering other technological innovations
    • It's solving real financial problems where other systems have failed
    • The world is changing and so is crypto
    • No real reasons/fears to warrant ban

    Final thoughts

    Banning crypto is ill-advised. Instead, governments should seek to consider a crypto economy as the early beginnings of a new open financial system.

    Article: https://zycrypto.com/why-crypto-bans-are-becoming-less-noticeable-on-market-movements/

    Edit: For anyone asking about the bitcoin vs Internet adoption rate - "Bitcoin's mass adoption rate hints that the largest digital coin will hit the one billion user mark nearly two times faster than the internet did. As highlighted in the chart below, the internet took 7.5 years to go from 130 million to a billion users."

    You can find the chart using this link: https://www.nasdaq.com/articles/can-bitcoin-grow-faster-than-the-internet-2021-05-07

    submitted by /u/itachiwriting
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    China’s bitcoin miners move to America

    Posted: 11 Jul 2021 11:32 PM PDT

    Bitcoin ATM found on my trip in Porto Rico ��

    Posted: 11 Jul 2021 04:38 PM PDT

    China’s Ban on Bitcoin Follows a Pattern Frequently Used by Beijing Since the End 2000s. Anything that promotes freedom is banned by the Chinese authorities.

    Posted: 12 Jul 2021 03:33 AM PDT

    US Senator Declares Investments in Grayscale’s BTC and ETH Trusts

    Posted: 11 Jul 2021 09:26 AM PDT

    Bitcoin's entire network's computing power bottomed out in half a month and rebounded by nearly 50%

    Posted: 11 Jul 2021 09:01 PM PDT

    According to Glassnde data, Bitcoin's entire network's computing power continued to regain its decline within half a month. As of July 11, it was 89.8EH/s. Compared with the lowest value in two years of 61.2EH/s on June 27, it has bottomed out and rebounded by 47.2%. On July 10, it once returned to above 100EH/S.

    submitted by /u/Moustache_Group
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    "We Have The Ability To Create Money... Digitally." - Jerome Powell

    Posted: 11 Jul 2021 11:11 PM PDT

    $10 today is $100 tomorrow.

    Posted: 11 Jul 2021 03:02 PM PDT

    I believe that Bitcoin will be at least 10x what it currently is by 2030 and it will probably be worth lot more given it's performance history and the amount of halvenings between now and then.

    If you're disgruntled getting up in the morning going to work just remember that every dollar you earn and put into Bitcoin you're going to get at least ten back in a few years.

    My greatest takeaway from being in this space for the last few years is: Every extra sat you stack this year could very well allow you to retire by 2030. Yeah your alt might go up 1000% in a month but it will probably go down 90% over a year and then never recover, Bitcoin will never die.

    submitted by /u/PsychedelicHell
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    Sen. Toomey Invested in Bitcoin, Ethereum After Asking for Fewer Crypto Rules

    Posted: 11 Jul 2021 11:26 AM PDT

    Satoshi started a fire in cyberspace. While the fearful run from it and fools dance around it, the faithful feed the flame, and dream of a world bathed in the warm glow of cyberlight. #Bitcoin

    Posted: 11 Jul 2021 07:32 AM PDT

    Remember the UK petition running since December, 31st, 2020 (for 6 months) to prohibit crypto transactions in the UK?? See the results, lol.

    Posted: 11 Jul 2021 02:19 PM PDT

    Best bitcoin bullish pump-up videos?

    Posted: 12 Jul 2021 02:21 AM PDT

    I've got a lot of stuff to do around the house today. In the mood for some BTC bullish videos as a youtube playlist to listen to while I work.

    Let's have your recommendations!

    To contribute something, here's one I always liked:

    https://www.youtube.com/watch?v=oqOIiuFqxwY&list=PLzXI7wnnRoVzx8VdV0atAKl86g_EI_5k-

    submitted by /u/UnusualPass
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    Bitcoin may reach 500K in a few years if Institutional Investors start investing in it - Cathie Wood (ceo ARK invest)

    Posted: 11 Jul 2021 03:23 PM PDT

    Binance Froze When Bitcoin Crashed. Now Users Want Their Money Back.

    Posted: 12 Jul 2021 02:23 AM PDT

    Mexican company sells property for more than $210 thousand in BTC through Bitso

    Posted: 12 Jul 2021 02:12 AM PDT

    The company and actual property developer Fibra GDL offered a property in Guadalajara in Bitcoin (BTC), through a number of transactions through the Mexican change and unicorn Bitso.

    The Fibra GDL company offered a condo situated in Ajijic, Guadalajara, for 4,201,750 pesos (211 thousand dollars, roughly) utilizing Bitcoin as a way of cost through the cryptocurrency change Bitso, as reported by El Common de México.

    The sale of the property in Guadalajara with cryptocurrencies marks a precedent in Mexico, since the existence of a cryptocurrency unicorn brings larger confidence to funding and actual property trusts to promote residential residences in Bitcoin.

    https://gruntstuff.com/mexican-company-sells-property-for-more-than-210-thousand-in-btc-through-bitso/215457/

    submitted by /u/BitcoinWide
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    US Senator Is Referencing Bitcoin Plebs For Leadership

    Posted: 12 Jul 2021 03:53 AM PDT

    This is why we stack

    Posted: 11 Jul 2021 07:25 AM PDT

    I dare you to sell now and wait for 20k or less.

    Posted: 11 Jul 2021 01:24 PM PDT

    It would be a good way for you to realize how much of a moron you are for listening to analysts. 30k is bottom. Been telling you this for weeks

    submitted by /u/Any-Explanation-6877
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    Bank of America creates a cryptocurrency team

    Posted: 12 Jul 2021 02:41 AM PDT

    What brings joy to the cryptosphere is that the second biggest bank in the US is cryptocurrency-friendly! Candace Browning, Head of BofA Global Research, describes cryptocurrency as "one of the fastest growing emerging technology ecosystems."

    Bank of America's opinion can't go unnoticed. It is the second biggest bank in the United States. But the most important takeaway is that in addition to being cryptocurrency-friendly, the bank has formed a special team to conduct research on digital assets.

    The Bank of America says it is ready to support the development of cryptocurrencies if necessary. "We are uniquely positioned to provide thought leadership due to our strong industry research analysis, market leading platform and blockchain expertise."

    https://www.cointribune.com/en/analysis/institutional-business/bank-of-america-creates-a-cryptocurrency-team/

    submitted by /u/BitcoinWide
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    Analog synthesizer crypto price ticker!

    Posted: 11 Jul 2021 10:32 PM PDT

    When Bitcoin Separates Money From State

    Posted: 11 Jul 2021 09:13 PM PDT

    What will that look like?

    What will the tax structure look like on a city/state/fed level?

    Will there even be taxes?

    Since The Fed will no longer be able to monetize debt, what does that even look like, since everything runs on debt, including the taxes you paid? Would the tax rate skyrocket to makeup for the loss of monetizing debt?

    Fascinating and mind blowing to try and think about this.

    submitted by /u/knuF
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