• Breaking News

    Monday, July 19, 2021

    Home Unlabelled Bitcoin Mentor Monday, July 19, 2021: Ask all your bitcoin questions!

    Bitcoin Mentor Monday, July 19, 2021: Ask all your bitcoin questions!

    July 19, 2021

    Bitcoin Mentor Monday, July 19, 2021: Ask all your bitcoin questions!

    Mentor Monday, July 19, 2021: Ask all your bitcoin questions!

    Posted: 18 Jul 2021 11:18 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
    [link] [comments]

    Daily Discussion, July 19, 2021

    Posted: 18 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
    [link] [comments]

    Curfew cocktail bar in Copenhagen, Denmark has received it’s first lightning payment!

    Posted: 18 Jul 2021 11:38 AM PDT

    I think I get it after a few drinks

    Posted: 18 Jul 2021 05:09 PM PDT

    1. Bitcoin is the first digital object that can't be duplicated or forged

    2. The way Bitcoin was created is almost as important as Bitcoin. Anonymous creator, no financial incentive, open-source for anyone to use, had $0 value for a year. It's like humans discovering gold for the first time

    3. Any Bitcoin fork is a waste of time. Imagine if the creator of the universe could create a knock off gold at any time and put it in the ground for us. For value, we seek items that have rare properties. meanwhile Satoshi created the scarcest asset known to mankind.

    4. Not even one of the largest countries could cripple Bitcoin.

    5. There's way smarter people than me that already understand this and are doing everything they can to accumulate as much as possible via manupulation. And they know there is a small time window to do this. It feels like just yesterday I bought the dip at $3,000. This thing is going into the millions.

    6. People that make fun of or disregard Bitcoin are completely wrong. There is no "opinion" on Bitcoin, it just exists as it was created to be.

    7. Imagine being trapped in a reality where Infinite money printing exists and there is no way out. Utterly terrifying. Something like Bitcoin was inevitable.

    P.S. I'm drunk

    submitted by /u/AloneDay8829
    [link] [comments]

    Erin Malone on Twitter - "10 weeks ago, I joined the @lightning network barely knowing how to open a channel. Last week I became a profitable lightning network routing node. Here's a thread on the ultimate strategy game for LN node operators from one #Bitcoin pleb to another."

    Posted: 19 Jul 2021 01:36 AM PDT

    You hear about Lightning all the time, but did you ever use it? Just do it. It proves bitcoin is already able to be the world's payment network.

    Posted: 18 Jul 2021 12:41 PM PDT

    It's easy to become skeptical of pronouncements about massive new developments that are caveated with "and the real world applications will get there eventually." For example, the Lightning Network as secure off-chain settlement to solve Bitcoin's scaleability. Always sounded reasonable, but many, many years have passed since initial proposals and nothing ever seemed here or stable.

    Someone tipped me with lnbot the other day for a comment posted, and I thought as knowledgable as I've been about bitcoin for a long time, I have no idea how to claim something that is legitimately built on the bitcoin network.

    So I do a little investigating for a Lightning compatible wallet. Critical for me is:

    • open source
    • non-custodial

    Came across the usual lists of recommended wallets and dug deeper into Muun. I am blown away. Not only does it meet those two criteria, it's just simple, fast, and does exactly what I didn't think would be possible with LN - it makes it so you don't have to think about it.

    I click "Receive", I click "Lightning" and just like any bitcoin transaction, you get a QR code and I withdrew my sats from the lntipbot. That's cool and all but what's important is how can someone get their on-chain bitcoin onto Lightning, so it's ready for its actual use case of buying coffee and whatnot. I have to set up a channel right? Or find someone to open a channel with? I have to manage how long the channel's open? Invoices? Eh? Bitcoin's simplicity vanishes... but no!

    Muun's whole philosophy is you get one balance. So I hit "Receive", then "Bitcoin", then I send like $10 worth to it. Now suddenly, my Muun wallet has a balance of the tip from before and the btc I just sent, no distinction. I don't know what's on chain, off chain, but it doesn't matter!

    I then hit "Send", "Lightning" and deposit $5 into the Reddit lntipbot. It works! I definitely didn't have $5 of LN balance, but it sends instantly all the same.

    This is how it's meant to be. The security, distributed protection, and rigid scarcity of Bitcoin, but versatility to handle microtransactions globally. The only reason bitcoin is not every country's default currency is people's ignorance and the intentional or unintentional misinformation spewed by those with power to lose.

    It's worked since 2008. It works even better now. The technology is here. You don't need complex custodial financial constructs like ETFs and derivatives to own it as an investment and you don't need 1,000s of other pointless cryptos to use it for small payments. Try Muun or some other Lightning wallet and start using it. This just feels game changing, and it shouldn't have taken me getting a Reddit tip to figure that out.

    submitted by /u/rgnet1
    [link] [comments]

    Billionaire Investor Tim Draper Continues to Stick to $250k BTC Prediction

    Posted: 18 Jul 2021 01:31 PM PDT

    PlanB on Twitter: Bounce, or break, that is the question

    Posted: 19 Jul 2021 02:19 AM PDT

    Take a proper care of your mental health. It’s far more valuable than anything else

    Posted: 18 Jul 2021 02:20 PM PDT

    I know, another post about the mental health but hear me out, please.

    As most of you already know, we're living in a society that values money. We will do many things for it and sometimes it may result in sacrificing our mental health. This can be a subversive process that is hard to catch in the moment. The absolute paradox of value and money is that the very thing you chase can be the thing that destroys you. Unfortunately, I have chased money on several occasions and in parallel sacrificed relationships, time and most importantly, my mental health. I've lost sleep, jeopardized relationships and undermined my own ethics far too many times to count. Although my relationship with money has evolved, in my early days I was specifically obsessed about these 3 things:

    1. Not having enough
    2. My friends doing better than me
    3. Others doing better than me

    I also started asking these questions:

    1. Do I lose sleep over my crypto positions? (Yes)
    2. Can I go a day without checking the market? (No)
    3. How do I feel when I lose? (Like shit, of course, what did you expect)

    I realized I have a big problem. My investing habits were destroying my life. After weeks of thinking I came up with these points to get me back on track:

    1. Staying away from social media or at least reducing it by a wide margin
    2. Not reading news in the evenings before bed
    3. Leaving my phone in another room when I went to sleep.
    4. Taking at least 1 full day per week totally away from all screens, phone, laptop, desktop and otherwise and hitting the mountains
    5. Trading far less. When I trade less and look at the screen less, I tend to make more money.

    Right now, I'm doing way better and I'm really thankful for that. I hope some of you might find it useful. Success has nothing to do with how much money you have, it's about the relationship you have with money, people and yourself. If you become paranoid and build a shelter based on fear and obsession - even if you get rich financially you will be the most depressed person alive.

    Good luck out there!

    submitted by /u/Argentino_Feliz
    [link] [comments]

    Crypto Experts Sees Bitcoin Replacing Fiat Money In 20 Years.

    Posted: 19 Jul 2021 03:28 AM PDT

    Bitcoin can still go sideways for months before rising to beat its record. 2013 saw a period of 197 days between two all-time highs. This is one of the longest drawdown Bitcoin has had to deal with during a post-halving bull market.

    Posted: 18 Jul 2021 10:02 AM PDT

    Buying $100 worth of Bitcoin Is Better Than Nothing. Not financial advice. Just an observation that great success is built step by step.

    Posted: 18 Jul 2021 06:03 AM PDT

    According To Tennessee City Mayor Bitcoin Is The Only Solution For US Increasing Inflation That is At Highest Level Since 2008

    Posted: 18 Jul 2021 11:27 PM PDT

    Didn't fancy a Lambo so I put down a (refundable) deposit on the Lotus Emira instead with a staked BTC loan... Roll on 2023 when this sexy beast comes out, let's hope I can afford one by then!!

    Posted: 18 Jul 2021 07:13 AM PDT

    For the first time in its history, the U.S. federal government is offering to pay for services with cryptocurrency

    Posted: 19 Jul 2021 03:31 AM PDT

    It only takes a minute to start using lightning!

    Posted: 19 Jul 2021 03:21 AM PDT

    I'm building a custodial lightning wallet - https://test.pouch.ph/ - this is the testnet version; the mainnet version isn't live yet. I have a vision of doing for the Philippines what Strike is doing for El Salvador. If anyone wants to help me test it out for bugs, I'd appreciate it a ton! You can play around making transactions between other testnet lightning apps like https://htlc.me/ or https://starblocks.acinq.co/.

    I built it as a sort of layer-3 solution -- it makes transactions to/from lightning nodes over lightning, but internal payments are settled in the local custodial database, rather than having a node pay itself. I'm not sure if this is the ideal way; still figuring it out, but the future looks bright!

    submitted by /u/pouchph
    [link] [comments]

    Bitcoin Offers More Freedom

    Posted: 19 Jul 2021 02:23 AM PDT

    When you go down the Bitcoin rabbit hole you have to learn about: - Economics/Money - Game Theory - Politics/Law - Trading and Investing - Open-Source Software - Computer Science - Digital/Physical Security Bitcoin is the greatest teacher to ever exist.

    submitted by /u/Zalkifl_Savage
    [link] [comments]

    Off-Grid Bitcoin Mining with Natural Gas

    Posted: 18 Jul 2021 08:05 PM PDT

    Help free Zimbabwe

    Posted: 18 Jul 2021 06:08 AM PDT

    Hi guys. I've got a few questions I'd like to ask about bitcoin and crypto exchange. I'm from Zimbabwe (yes the country with trillion dollar notes). And it's no secrete we have a corrupt and dictatorship government here.our currency is worthless and as Zimbabweans we cannot shop online as our gvt won't have foreign currency to pay out of Zim. So here is my questions

    1). Is there a way our government can just Create a cryptocurrency exchange and just adopt bitcoin as main currency. That way at least we can buy stuff online using bitcoin and they still get their tax as they include it in transaction charges.

    2). Is there a way an exchange can be created and run in Zimbabwe but be registered with a foreign bank. That way our government will not have control. For instance, can a Mexican buy crypto and pay for it at an American bank.

    I know this my sound like stupid questions but I'd really like to enlightend on this.

    submitted by /u/elgeeQuid
    [link] [comments]

    Whales before they pump

    Posted: 18 Jul 2021 01:03 PM PDT

    Over the past month, the number of Bitcoin users has hit an all time high. Even when Bitcoin is flat, it is still growing.

    Posted: 18 Jul 2021 08:08 PM PDT

    Is 10 minutes really that bad?

    Posted: 18 Jul 2021 09:48 AM PDT

    I was a member of an online/ app-based bank for 5 years. I loved them! Then they were bought out by a new bank and the old bank accounts were converted over and the old app was EOL'ed. The new (X) bank and their app sucks (IMO), so I decided to switch to a different (Y) bank. I opened up an account with said different (Y) bank at the beginning of the month. A week later I started the transfer. X bank is headquartered in Alabama, and Y bank is HQ'ed in Michigan. I thought transferring my money would be easy, but immediately I had problems. Bank X had a $10,000/day limit to ACH push money to an external bank, but luckily Y bank has no limit to ACH pull money into my account.

    On a Friday morning at 10am I tried to initiate a transfer of my funds from X to Y, but I could not select the current Friday to initiate the transfer. I had to choose the following Monday to initiate the transfer! On Monday the funds disappeared from my X bank account and I received confirmation of the funds in my Y bank on the next Thursday. This whole process too a week!

    I realize waiting 10, 20, or 30 minutes to get into the next few blocks can be frustrating, and people bemoan their transactions taking so long when we just want to click a button and have instant confirmation. But I just had to wait a full week to move all my checking/savings in US dollar currency from one bank account to another. Given the alternative that I pay a one-time fee and get it the same day, I think Bitcoin isn't that bad.

    submitted by /u/foxy-agent
    [link] [comments]

    Saquon Barkley, Star of New York Giants Switched Endorsement Payment to Bitcoin

    Posted: 18 Jul 2021 11:34 AM PDT

    Found one of these yesterday at a Circle K

    Posted: 18 Jul 2021 01:54 PM PDT

    Comdirect Bank Aktiengesellschaft, the third-largest German ���� direct bank, is now offering Bitcoin products to their 3 million customers—those clients can now include exposure to #bitcoin in savings plans.

    Posted: 18 Jul 2021 08:39 AM PDT

    Getting back into art

    Posted: 18 Jul 2021 09:22 AM PDT
    Read more
    at

    No comments:

    Post a Comment