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    Bitcoin 5 week seminar by Chaincode Labs: Bitcoin and Lightning Protocol Development Education

    Bitcoin 5 week seminar by Chaincode Labs: Bitcoin and Lightning Protocol Development Education


    5 week seminar by Chaincode Labs: Bitcoin and Lightning Protocol Development Education

    Posted: 26 Aug 2021 02:43 AM PDT

    Daily Discussion, August 27, 2021

    Posted: 26 Aug 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.

    submitted by /u/rBitcoinMod
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    Liquid Cooled - My Latest Mining Center Opening for Business Soon

    Posted: 26 Aug 2021 05:58 PM PDT

    Fidelity Bitcoin Analysis

    Posted: 26 Aug 2021 12:22 PM PDT

    Good bye Bitcoin dream...life savings gone for good

    Posted: 26 Aug 2021 04:49 AM PDT

    Good bye Bitcoin dream...life savings gone for good

    I completely messed up guys, my life savings are gone for good, I have learned a devastating hard lesson.

    That's my story:

    I strongly believe in Bitcoin becoming the world biggest store of value, it's not an IF anymore, is just a matter of WHEN.

    During the last years me and my wife have put in Bitcoins everything we had and slowly managed to reach 1.7 BTC, our entire life savings, 10 years of grinding and accepting odd jobs trying to save every dollar possible and buying every BTC amount we could.

    When BTC started recently raising from 30k to 40k I made the biggest mistake ever: trying to earn more than just HODLING (spoiler: it doesn't end well).

    I started looking at YouTube videos explaining how to leverage, how to earn more, how to trade futures, etc.

    In matter of hours my YouTube feed was completely flooded by videos of Michael Saylor, one of the world top CEOs betting hard on BTC by doubling and tripling down his BTC holdings and claiming it would easily go to a million each BTC, I was HOOKED.

    For one time in this life I wanted to be a "hero" in my wife's eyes, I wanted to make a bold move and save her and us from a life of odd and low wages jobs, I saw an opportunity and I went for it without even knowing what I was doing.

    I started future trades and managed to turn the 1.7 BTCs into 2.1 BTCs, the classic beginner luck.

    I have put all ours 2.1 BTCs on a leveraged future for BTC going to 100k $ and I was already envisioning the 21 BTCs in profit. I saw this as a gateway to exit our mediocre life. It was our chance and I had to go for it. Of course she didn't know that and still doesn't know...

    Of course it didn't play out, BTC went from touching 50k $ down to 47k $ and our whole life savings have been wiped out.

    I still haven't say anything to my wife, she doesn't know that and this is killing me from the inside. I just don't know what to say to her, I'm simply devastated. I barely can watch myself in the mirror. These funds were supposed to be our small treasure, something that would have help us in the future.

    Please follow my advice, don't trade guys, don't fall into these marketing traps like I did.

    Just HODL, BTC is the best thing ever happened to humanity, just HODL and don't risk your beloved BTCs like I did.

    Peace.

    EDIT: Thanks to everybody for the support, I truly appreciate your kind words.

    EDIT 2: For everybody saying is fake, unfortunately is not. These are the screenshots of the trade being liquidated little by little until the balance is zero (or almost, there were 0.0011 BTC left, about 50 $).

    https://preview.redd.it/k2ufp4t6mqj71.png?width=2528&format=png&auto=webp&s=e8db93e3ca220a4f66230123c6f944acd6b08be1

    https://preview.redd.it/2rh9x1t6mqj71.png?width=2508&format=png&auto=webp&s=44a763a3acd3ebd3d93c566870193bf5ea1a867f

    https://preview.redd.it/ge3e48t6mqj71.png?width=2526&format=png&auto=webp&s=c729859260f0d23ea290d0996027a3039231fc7b

    https://preview.redd.it/c4rrz3t6mqj71.png?width=2530&format=png&auto=webp&s=8c83919c5602cc8f6e1b4bcf909c4a6ebcb864e7

    submitted by /u/Prudent_Plum_7644
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    I made some Rasberry Pi Zero Bitcoin price charts and I'm auctioning two off for the Bitcoin Smiles fundraising campaign.

    Posted: 26 Aug 2021 05:04 PM PDT

    If the FED can print money like they do, what makes you sure that they aren't printing to buy bitcoin too? Until the added inflation would be made public, they could accumulate thousands of bitcoin, no?

    Posted: 26 Aug 2021 11:17 PM PDT

    After all, the dollar has such a high supply, printing a billion here and there to buy bitcoin won't be that much noticed (except maybe in the btc price) by the general public.

    submitted by /u/TrudleR
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    Should I buy bitcoin just to keep it and maybe sell it in 10 years time?

    Posted: 26 Aug 2021 05:27 PM PDT

    How do I go about buying it and storing it? I have no plans to invest or gamble with it, I just want a passive income that I can sell in a few years time. What would you do if you were me? How much would you buy?

    submitted by /u/GiovaneKillerAutist
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    I spent way too much time on this website, Bitcoin or stupid shit. It tells you how much we would have if we purchased BTC instead of the stupid stuff. Iphone5 was $749 on 9/20/13. Instead that person could buy 5.85 btc, worth $273,725 today.

    Posted: 26 Aug 2021 09:03 AM PDT

    Stop worrying about other people, worry about yourself

    Posted: 26 Aug 2021 07:23 PM PDT

    You can buy bitcoin, you can short it, you can do whatever. Here's what I've learned at 38:

    Time if flying much faster than you think. Think back 10 years. Remember where you were? I do, I was going through a really shitty breakup and hating my life. I was making decent money. My roommate was falling asleep with cigarettes on the couch.

    Think back 20 years. What were you doing? I was just graduating high school.

    Now, think 10 years forward. I will possibly....well, that's for me to know.

    20 years-I should be playing the role of mentor, and I hopefully have my own business by then. I should be married as well.

    I say this to help give the perspective of time. Do you check the price chart 5x a day? No biggie--lots of people do. They also do that when they trade stocks. I encourage you to zoom out and to not fall in love with bitcoin, but to see what role it will play in your life.

    I've made my choice. I can't work forever at what I do, so I moved home, reduced expenses, and dca. I either become rich at 40 or rich at 55 (if I live till then).

    Time will fly. I remember 5 years ago my friend trying to tell me about crypto and I didn't listen. The world has not melted down...just some got rich.

    submitted by /u/throwaway29801A
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    TIL: The Top Post of All Time on r/Poor is about Dollar Cost Averaging into ₿Itcoin

    Posted: 26 Aug 2021 06:52 PM PDT

    A bit of appreciation for cryptography, it's history and early cypherpunks.

    Posted: 27 Aug 2021 01:00 AM PDT

    Amidst all the HODL posts I would like to remind you about some shards of recent history that inspired creation of Bitcoin and other cryptocurrencies.

    I'm a senior software engineer and cypherpunk. There is nothing wrong with holding crypto for gains, but I'm also fascinated by it's background, ideas and possibilities it brings. You don't need to support crypto-anarchists' ideas as you are free to disagree, that's the point. However it's hard to argue that creation of public-key encryption was one of the most important events for crypto.

    Despite what some of you are hoping for, it is unlikely that crypto will kill banks, governments will fall and system will collapse because of it.

    However cryptography in general and digital currency in particular gives people _opportunity_ to experience privacy, transparency, control of their finances. Which is _not_ achieved with tyranny of the majority, force or violence, but with _mathematics_. And this, in my opinion, is a beautiful thing.

    Some 30 years later, it is quite interesting to get familiar with some of the origins. Some things that inspired Satoshi. So next time you decide to panic-sell you crypto, may be consider thinking about where it began and why it was created.

    -------------

    For more specific original ideas, please search for full version of Cyphernomicon

    ---------------

    Tim May, 1992

    A specter is haunting the modern world, the specter of crypto anarchy.

    Computer technology is on the verge of providing the ability for individuals and groups to communicate and interact with each other in a totally anonymous manner. Two persons may exchange messages, conduct business, and negotiate electronic contracts without ever knowing the True Name, or legal identity, of the other. Interactions over networks will be untraceable, via extensive re- routing of encrypted packets and tamper-proof boxes which implement cryptographic protocols with nearly perfect assurance against any tampering. Reputations will be of central importance, far more important in dealings than even the credit ratings of today. These developments will alter completely the nature of government regulation, the ability to tax and control economic interactions, the ability to keep information secret, and will even alter the nature of trust and reputation.

    The technology for this revolution--and it surely will be both a social and economic revolution--has existed in theory for the past decade. The methods are based upon public-key encryption, zero-knowledge interactive proof systems, and various software protocols for interaction, authentication, and verification. The focus has until now been on academic conferences in Europe and the U.S., conferences monitored closely by the National Security Agency. But only recently have computer networks and personal computers attained sufficient speed to make the ideas practically realizable. And the next ten years will bring enough additional speed to make the ideas economically feasible and essentially unstoppable. High-speed networks, ISDN, tamper-proof boxes, smart cards, satellites, Ku-band transmitters, multi-MIPS personal computers, and encryption chips now under development will be some of the enabling technologies.

    The State will of course try to slow or halt the spread of this technology, citing national security concerns, use of the technology by drug dealers and tax evaders, and fears of societal disintegration. Many of these concerns will be valid; crypto anarchy will allow national secrets to be trade freely and will allow illicit and stolen materials to be traded. An anonymous computerized market will even make possible abhorrent markets for assassinations and extortion. Various criminal and foreign elements will be active users of CryptoNet. But this will not halt the spread of crypto anarchy.

    Just as the technology of printing altered and reduced the power of medieval guilds and the social power structure, so too will cryptologic methods fundamentally alter the nature of corporations and of government interference in economic transactions. Combined with emerging information markets, crypto anarchy will create a liquid market for any and all material which can be put into words and pictures. And just as a seemingly minor invention like barbed wire made possible the fencing-off of vast ranches and farms, thus altering forever the concepts of land and property rights in the frontier West, so too will the seemingly minor discovery out of an arcane branch of mathematics come to be the wire clippers which dismantle the barbed wire around intellectual property.

    Arise, you have nothing to lose but your barbed wire fences!

    -------------

    The resources on general cryptography are vast. I hope I woke up some interest in you to go and educate yourself a bit on it's history and modern applications. Even reading a fiction like Cryptonomicon will help you appreciate what you are hodling )

    Kind Regards

    - wintermute -

    submitted by /u/wintermute-89
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    Anthony Pompliano Explains Why Over 90% of His Net Worth is in Bitcoin

    Posted: 26 Aug 2021 06:00 PM PDT

    Cuba to recognize -- and regulate -- cryptocurrencies

    Posted: 27 Aug 2021 12:01 AM PDT

    Demonstration of K1. The first Lightning Network compatible Bitcoin ATM designed and built in El Salvador

    Posted: 26 Aug 2021 05:21 AM PDT

    Every DCA day is a fight day with my bank.

    Posted: 26 Aug 2021 10:08 AM PDT

    The method I used last month almost always gets blocked the following month. Those bastards are still going at it. Every month I have to explore cryptoland for an exchange the bank did not put on a list. Luckily, they still haven't figured out that I can deposit funds using a credit card via FTX. Let's hope it stays that way for a while. I'm putting P2P as last resort anyways.

    Keep fighting for the future of finance.

    submitted by /u/Leader92
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    For all you bitcoin maximist, Bitcoin 2013 cycle vs Bitcoin 2021 cycle Daily Percentage Change Analysis and Correlation

    Posted: 26 Aug 2021 03:03 PM PDT

    So, the EU is going to do battle with some of the brightest mathematicians and computer scientists on the planet...?

    Posted: 26 Aug 2021 05:56 AM PDT

    OK... That should work out well for them. /s

    They can try to pass their laws to retain monetary control.

    It's already too late.

    submitted by /u/nakasatamooshito
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    United States: 11% Of Americans Have Invested In Cryptocurrencies According To A Survey

    Posted: 26 Aug 2021 04:45 AM PDT

    Cuba to Recognize and Regulate Crypto on the Island / Bitcoin

    Posted: 27 Aug 2021 02:53 AM PDT

    #Bitcoin

    Posted: 26 Aug 2021 10:55 PM PDT

    Bitcoin is one the best-performing assets of the decade.

    Yet, most of the traders lost money.

    There is a lesson here

    1. Don't day trade if you are not experienced
    2. Don't blindly follow trades on Reddit
    3. Avoid trading volatile events
    4. Don't trade low timeframes
    submitted by /u/Myriamclassen
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    Morgan Stanley Loads Up on $240 Million in Grayscale ranging from BTC to ETC

    Posted: 26 Aug 2021 06:34 PM PDT

    Morgan Stanley makes its next crypto move by investing in Grayscale’s Bitcoin Trust

    Posted: 26 Aug 2021 01:17 PM PDT

    Next time someone says 'I can't trust something I can't hold in my hand', ask them about their credit score

    Posted: 26 Aug 2021 10:45 AM PDT

    People don't trust the bitcoin network but trust an easily manipulated fake number controlled by 3 private organizations. There's an entire industry dedicated to helping you 'repair' your credit score. Experian just basically gave up and said screw it we'll charge people money to 'boost' their score. Loan sharks from the bank will threaten you with hits to your credit score if you cross them. Yet people still trust this imaginary number based on a group of companies deciding whether or not you are worthy getting a better rate.

    submitted by /u/c_games_official
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    How much does the average person have invested in Bitcoin?

    Posted: 27 Aug 2021 03:08 AM PDT

    I read that appx 11% of the US population is invested but is the average amount $50 or $5000?

    submitted by /u/Chupacabra2030
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    Topic ideas for blockchain bachelor thesis in a big financial services company

    Posted: 27 Aug 2021 12:20 AM PDT

    So, I will be starting my bachelor thesis soon. It will be the biggest scientific paper that I have worked on and I am slowly understanding the process behind it.

    Through a good friend I got the opportunity to write my thesis for a big financial services company who is interested in exploring the use of blockchain in their business model. Since they have not touched this topic before, my supervisor gave me a lot of room to come up with ideas.

    Basically we a looking for a way, how the company can use blockchain technology or existing blockchain protocols to change their business structure and stay competitive in the changing market.

    Of course with the essence of blockchain being decentralisation, one could argue that all traditional business models will end up being peer-to-peer managed and there won't be a seat at the table for big companies whatsoever. But surely there are some opportunities for companies to create value even in a mostly decentralised economy. Especially in the transition time to come I could expect something such as company's offering services to support decentralised platforms or to help reduce the entry barriers for people to use defi services that are not so tech savvy.

    If you resonate with this topic and have an interesting idea/question/thesis I would be happy if you could share it here to be discussed :-)

    Please keep in mind that this will be an scientific paper and there needs to be sufficient literature and ways to generate data to support the given thesis. Maybe you have experience in scientific work and can give a brief outline on how to approach the idea.

    Looking forward to your comments and discussions.

    submitted by /u/IllProduct89
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