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    Bitcoin Daily Discussion, August 15, 2021

    August 15, 2021

    Bitcoin Daily Discussion, August 15, 2021

    Daily Discussion, August 15, 2021

    Posted: 14 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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    Should I buy 1 USD now?

    Posted: 14 Aug 2021 10:46 AM PDT

    I am aware that USD has been in a bear market for 105 years, but I think we've finally bottomed out and it can only go up from here. Right now 1 USD can only buy a tiny fraction of a Bitcoin, but in 4 years where the Fed stops printing new money the stock-to-flow of USD will rise and it could buy much more.

    So should I buy 1 USD with some of my Bitcoin? Thoughts?

    submitted by /u/ztsmart
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    My Raspberry Price Ticker

    Posted: 14 Aug 2021 12:31 PM PDT

    Ask Walmart to please begin to a accept Bitcoin as a payment option. Put in a request here.

    Posted: 14 Aug 2021 11:47 PM PDT

    Watch out for scammers. Although I had fun wasting their time.

    Posted: 14 Aug 2021 06:40 AM PDT

    How do we know the big coin platforms actually 'have' your coin and aren't robbing Peter to pay Paul every time someone does a withdrawal?

    Posted: 14 Aug 2021 08:50 PM PDT

    For example - if everyone right now withdrew their assets from say, Coinbase.com - would they be able to cover it?

    submitted by /u/Grantuna
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    The IRS will ignore how any crypto bill describes a broker

    Posted: 14 Aug 2021 07:37 PM PDT

    Bitcoin Surges Over $47K - Is BTC Back on Track to Hit $64,863 ATH?

    Posted: 14 Aug 2021 10:03 PM PDT

    Made this, thoughts?

    Posted: 14 Aug 2021 09:56 PM PDT

    Why was Satoshi worried when Wikileaks brought attention to bitcoin?

    Posted: 14 Aug 2021 03:27 PM PDT

    WikiLeaks has kicked the hornet's nest, and the swarm is headed towards us. [...] I make this appeal to WikiLeaks not to try to use Bitcoin. Bitcoin is a small beta community in its infancy. You would not stand to get more than pocket change, and the heat you would bring would likely destroy us at this stage.

    -Satoshi Nakamoto

    ​

    It seems he wasn't concerned about Wikileaks using Bitcoin, rather, he was concerned about Bitcoin becoming too popular too fast. I think it's very unusual that he was so concerned that he pleaded in such an emotional and direct way. The words "destroy us" implicates he feared governments banning bitcoin and/or feared personally getting arrested. As we all know, he disappeared from the public shortly after posting that.

    I guess the question I ask is...why? Did he have something to hide in his private life unrelated to bitcoin and was afraid of being found out? Or did he really just think it would benefit Bitcoin from a legal perspective if adoption happened super, super slow?

    submitted by /u/ShotBot
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    Milton Friedman explains the direct link between inflation and economic recession. This is why we need a monetary policy controlled by math.

    Posted: 14 Aug 2021 04:08 PM PDT

    Why Progressives Should Love Bitcoin: An Open Letter to Senator Elizabeth Warren

    Posted: 14 Aug 2021 08:29 AM PDT

    Satoshi Nakamoto who knows?

    Posted: 14 Aug 2021 11:16 PM PDT

    Surely Satoshi must have worked with a team, so people must know who he is? Do you think they have diamond toungs like some have diamond hands?

    submitted by /u/123Delbe
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    BitMEX Reveals Its Total BTC Reserves, Urges Other Crypto Exchanges To Disclose Holdings - Even provides tools to verify their claims of holdings - This is the way!

    Posted: 14 Aug 2021 05:30 AM PDT

    Spotted one in the wild! Silver Dollar Salon, Leadville CO

    Posted: 14 Aug 2021 12:34 PM PDT

    A bunch of MIT students got $100 of free bitcoin in 2014 – some got rich, some wasted it on sushi

    Posted: 14 Aug 2021 07:14 AM PDT

    Caribbean island of Bequia to possibly become Bitcoin community

    Posted: 14 Aug 2021 12:13 PM PDT

    ATH Celebration envelopes ��

    Posted: 14 Aug 2021 01:29 PM PDT

    Happy Breton Woods termination Golden anniversary

    Posted: 15 Aug 2021 02:20 AM PDT

    No Pun Intended.

    On August 15 1971 President Nixon announced that he would remove the dollar from the gold standard essentially fucking countries that held gold in our vaults of their gold supply. The result was a dollar that was no longer backed by a hard asset and at which point became an instrument of debt in which to spread liability of US spending to those world holders of the dollar. That is, until the day Bitcoin arrived. So how will Bitcoin facilitate a return of fair monetary value and distribution?

    submitted by /u/calculated_brisk
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    Still early

    Posted: 14 Aug 2021 06:44 PM PDT

    I have given now five friends and family some Bitcoin. All but one has sold it lol. Not mad, was intended as a neat novelty gift of money. I laughed at their faces when they told me. We are so early.

    submitted by /u/sidel3
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    As of today all of my coins were gone off my exchange..

    Posted: 14 Aug 2021 01:33 PM PDT

    They got moved to two separate hardware wallets with 25 word phrase back ups and steel plates divided among various geo locations.

    HoDl oN

    submitted by /u/circumventing_
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    Inside Cuba's Bitcoin Revolution. As political demonstrations show the world that Cubans are tired of dictatorship, Bitcoin is providing an option to peacefully protest and opt out of a broken system.

    Posted: 14 Aug 2021 08:55 AM PDT

    Cruz said the recent protests have been triggered by a lack of food, a lack of medication, by people suffering from hunger, trying to survive in brutal conditions, during a pandemic, with government bureaucracy, and with high inflation. "The Cuban people are tired," he said. "They want a better life. The system isn't working," Cruz said, "so people are turning to Bitcoin to escape."

    https://bitcoinmagazine.com/culture/cubas-bitcoin-revolution

    submitted by /u/thebitcoin10
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    Bitcoin Transactions not Working For Hours Now on Coinbase.com

    Posted: 14 Aug 2021 07:52 PM PDT

    Not just me. People posting about it right now on r/CoinBase

    submitted by /u/Grantuna
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    Finally swallowed the pill after 5 years...

    Posted: 14 Aug 2021 04:37 AM PDT

    Not 5 actually, more like 10.

    ​

    • Heard about bitcoin in 2011, didn't pay much attention to it.
    • Got paid for my work 3 bitcoins in 2013 when they were about $100, sold them couple of months later for approx. $800. Forgot about it again.
    • Between 2015-2016 I've had a freelance contract, got paid ~$20k total in bitcoins and I was selling those immediately because I was scared of volatility. (still have an excel file with my orders, one of orders is selling 20 BTC for $6k). Had everything in USDT then lost most of that money on an exchange that got rekt by FBI. Do not store on exchange, lesson learned. (Also missed the 2017-2018 hype train completely)
    • In 2018-2019 thought bitcoin was dead, was very useful for me to do online transactions though, but never held more than a couple grand in BTC.
    • 2020-2021 Still a part time freelancer, started researching a bit more now. Decided to keep a % from my BTC income in BTC, and swap rest to USD. Paper handed and sold everything on march... Realized I am an idiot later, but luckily I still followed my strategy and managed to experience the bull run, but with a fraction of what I could have had...
    • Started reading about BTC, inflation, economics. Threw in a significant sum @ 55k and you know what happened next... I was looking at the chart when it dipped to 30k for the first time, but I was not panicking... I was angry and buying every time it dipped even further. (Lets say I was already far out of my budget when the price was 45-40k)

    I was very angry, it seemed pointless... Feds printing trillions, inflation, crisis and COVID and now me losing over 50% of my investment on top of that.

    For 2 months balls deep in red I kept researching, I planned to sell most of my stack as soon as I would break even. I wanted to sell at 30k, thinking it would go lower, at 35k, at 38k you name it. Then it hit me deep... This is the first real scarce asset, there is will be only less than 21 million coins, DECENTRALIZED coins, it cannot be printed out of thin air and adoption is happening RIGHT NOW. It does not matter what the price is, be it $100 or $1m. What matters is that it is a real FREEDOM. Fiat is doomed anyways.

    I'm a while in green now, old me would have sold\* it long time ago, but know what? You are NOT getting my bitcoins.

    * If I would not lose all my bitcoins in a boating accident of course.

    ​

    I could have had hundreds, if I wouldn't have been ignorant, but the price for you is what you deserve.

    Thank you for reading. HODL.

    submitted by /u/spurkle
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    Crypto is reshaping the world economy, 50 years after Nixon ended the dollar’s peg to gold. Here’s how some are playing it

    Posted: 14 Aug 2021 12:56 PM PDT
    Read more
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