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    Home Unlabelled Bitcoin Mentor Monday, August 23, 2021: Ask all your bitcoin questions!

    Bitcoin Mentor Monday, August 23, 2021: Ask all your bitcoin questions!

    August 23, 2021

    Bitcoin Mentor Monday, August 23, 2021: Ask all your bitcoin questions!

    Mentor Monday, August 23, 2021: Ask all your bitcoin questions!

    Posted: 22 Aug 2021 11:05 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, August 23, 2021

    Posted: 22 Aug 2021 10:04 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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    50k $

    Posted: 22 Aug 2021 07:43 PM PDT

    We just reached 50k$ !

    May the FOMO begin !

    submitted by /u/Brilliant_Singer_555
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    Street sign solid advice

    Posted: 22 Aug 2021 06:42 AM PDT

    I now own 0.01 of a Bitcoin can’t wait to hit 0.10 !

    Posted: 22 Aug 2021 09:55 PM PDT

    Will continue DCA'ing until then just needed to share

    submitted by /u/SeshWyzrd
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    Bitcoin pushed my Net Worth Up

    Posted: 23 Aug 2021 12:31 AM PDT

    I will not tell the story of my life but a few years ago a tragedy forced me to immigrate to a new country. I sold all my belongings, including my apartment, and went all-in in the only asset I was sure I could carry everywhere without anyone bothering me about it.

    Now I am living in a developped country but work a low-end job. I passed through the last bear market 70% down. I did not sell any bitcoin. I tightened my belt and bought a little bit more.

    Since this year's price increase I looked up how my Net Worth compares. The wikipedia article lead me to this report. I found out that my Net Worth puts me at least in the top 25% of my country, top 10% for my age group.

    It makes me emotional: All my life I've been punished for working hard and rewarded for keeping low profile. I've been the family's scapegoat, a broke student, stuck in a souless corporate job, and a struggling immigrant. It's the first time in my life I have actual wealth that belongs to me and only me.

    Thank you Bitcoin.

    submitted by /u/maininshadow
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    If Onlyfans decides to adopt Bitcoin we may see BTC price skyrocket. This may be the impetus that normies need to see the value of crypto, and what makes it widespread adopted!

    Posted: 22 Aug 2021 07:52 PM PDT

    PayPal to allow UK users to buy, sell and hold crypto

    Posted: 22 Aug 2021 06:14 PM PDT

    Finally, PayPal launches U.K. version of its crypto wallet. When introduced in the US last year it kickstarted to $10-20k bull run.

    Posted: 23 Aug 2021 01:20 AM PDT

    Brother passed away and left bitcoin. I need help.

    Posted: 22 Aug 2021 01:42 PM PDT

    I apologize if I posted this against any rules within the guidelines.

    My brother passed away back in May and he left Bitcoin. He didn't leave any written will regarding who gets his coin. We have access to his coin. But my mom and I don't know what to do. We don't know if we are going to get taxed, fined, Bitcoin taken away, etc.

    What would be the proper steps to take out Bitcoin or secure it within my immediate family.

    submitted by /u/ScarlightDemon
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    Dictator explaining Bitcoin benefits

    Posted: 22 Aug 2021 07:33 AM PDT

    As we continue to fight the U.S. Congressional "infrastructure" bill and crypto provision, don't forget there is still also time to stop California's latest anti bitcoin bill, AB 1402 - a rent-seeking monstrosity which tries to force more regulation, permits and taxation on crypto users in the state

    Posted: 23 Aug 2021 01:19 AM PDT

    PayPal to allow crypto purchases outside of the US

    Posted: 22 Aug 2021 04:58 PM PDT

    Bitcoin helped me understand what a store of value is in life

    Posted: 23 Aug 2021 04:39 AM PDT

    We all work tirelessly and try hard to "succeed" in life and we're rewarded for it (in fiat) but I never really understood what SOV was. My Bitcoin now shows me that..

    Thank you Satoshi

    submitted by /u/Individual-Elk-6423
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    PayPal goes a step further in cryptocurrencies |

    Posted: 23 Aug 2021 03:09 AM PDT

    There will be no successor to Bitcoin like there will be no successor to Wikipedia.

    Posted: 22 Aug 2021 10:33 AM PDT

    I have been thinking about the relationship between Bitcoin and altcoins, and how people (including me) have a hard time convincing themselves that there is only one Bitcoin and there will never be a Bitcoin 2, and no altcoin will ever be able to surpass Bitcoin in terms of its fundamental properties (mainly decentralisation, scarcity and security).

    Bitcoin is like wikipedia. Wikipedia is the only one that is authentic and indisputable.

    Then there are many different wikis... you have the Pokemon wiki, the Starcraft wiki, travel wikis, and even a wiki about bitcoin. These Wikis, as you might have guessed, are the Altcoins. They fulfil a particular function, they satisfy specific needs that are not relevant from an encyclopaedic point of view (knowing all the items in a video game, the places to visit in Thailand or any technical knowledge). These altcoins do not have a monetary function as powerful as bitcoin, just as wikis are not as encyclopaedic as Wikipedia.

    Wikipedia's hegemony as a repository of online knowledge is undeniable, being (in a sense) a consensus-based p2p network. No private company hiring top experts from all over the world can make a better encyclopaedia than Wikipedia. They have not been able to overcome the ability of millions of people around the world to selflessly contribute information.

    Moreover, if they succeeded, the content of this new encyclopaedia could become part of Wikipedia's content if it really adds value to what has already been written.

    Nobody believes that Wikipedia will disappear because of a better successor, as it is able to change and adapt. Just like Bitcoin.

    That's the way I see it.

    submitted by /u/krisycoll
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    Drunk People on Bitcoin - Dallas and Austin Public Interviews

    Posted: 22 Aug 2021 08:27 PM PDT

    Binance allegation: They pick off leveraged customer positions, just like all other cfd/forex bucket shops.

    Posted: 23 Aug 2021 04:27 AM PDT

    A friendly reminder about lambos

    Posted: 23 Aug 2021 01:04 AM PDT

    I write these posts as reminders to myself to keep my ego in check.

    I do believe we are going to go MUCH higher than 100k. Humans are naturally greedy and there will be a tremendous amount of chasing. Just like in 17, the housing market in 07, and gamestop.

    I also believe that most people will blow the vast majority of money. And blow it quickly.

    Unless your friends do great on btc, keep it on the low. At best feelings of jealousy, at worst "why didn't you tell me".

    Get dad a car. Get sister a down payment on starter home.

    Be the same person. Just with more time.

    submitted by /u/throwaway29801A
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    After US, PayPal Today Announced Launch Of A New Service Enabling Its UK Customers To Buy, Hold And Sell Bitcoin, Ethereum, Litecoin And Bitcoin Cash With PayPal

    Posted: 22 Aug 2021 10:42 PM PDT

    About being cautious when margin trading...

    Posted: 23 Aug 2021 12:26 AM PDT

    Gary Gensler Says Bitcoin Is Real

    Posted: 23 Aug 2021 03:43 AM PDT

    Any early intel in advance of the El Salvador legal tender adoption in a few weeks?

    Posted: 23 Aug 2021 01:46 AM PDT

    I feel like the coming legal tender adoption in El Salvador is going to be massive upside driver for BTC. In fact it is the reason I started stacking around 34k. Does anyone have any early intel on the coming implementation of the law?

    submitted by /u/Legonitsyn
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    I'm Argentinean and I wrote an essay about what is happening in my country with Bitcoin.

    Posted: 22 Aug 2021 09:17 AM PDT

    Bitcoin finally breaks another psychological barrier

    Posted: 22 Aug 2021 08:02 PM PDT

    After struggling for long time to break that crucial psychological 50K barrier, Bitcoin finally breaks it.

    Everything indicates Bitcoin can reach the famous $100k before this year's end. The bull run continues this cycle. The dip from 60k to 30k was just a temporal and normal dip/correction.

    Don't listen to MSM and bears/trolls, just DCA and Hodl long-term regardless of the short-term volatility and learn about hard wallets to keep your coins safe.

    Learn as much as you can and that will give you peace of mind and balls of steel:

    Andreas's playlist in English with Spanish subtitles:

    https://www.youtube.com/playlist?list=PLPQwGV1aLnTti_3_9dfwfg6a4XLly9i6n

    One of the most comprehensive resource pages:

    https://www.lopp.net/bitcoin-information.html

    This one also:

    https://www.hope.com/

    More info, credit to u/F0xxenz :

    What is Bitcoin?:

    https://www.youtube.com/watch?v=41JCpzvnn\_0&t=

    What is the Blockchain?:

    (Dont skip this)

    https://www.youtube.com/watch?v=2yJqjTiwpxM

    How to Buy Bitcoin:

    https://www.youtube.com/watch?v=0VC8tsYrKZM

    Whose buying up all the Bitcoin? (Scarcity):

    https://www.youtube.com/watch?v=p-Aii9D-fwc

    https://decrypt.co/47061/8-public-companies-biggest-bitcoin-portfolios

    Hardware Wallets/Cold Storage, What is it? :

    https://www.youtube.com/watch?v=aPprQUQljHE

    As stated by redditor digiorno :

    Your ledger is an "access point", your coins are stored on their respective blockchains and your passphrase is the key to accessing them.

    Your crypto is NOT stored on the HW wallet, Ledger/Trezor etc itself.

    Trezor (HW Wallet - How to use it)

    https://www.youtube.com/watch?v=UUDCcxldUdk

    https://www.youtube.com/watch?v=9NuCfzd4\_5Q&t=

    https://www.youtube.com/watch?v=MAEYkdniJew

    Hardware wallet vs USB Stick...whats the difference?

    https://www.reddit.com/r/BitcoinBeginners/comments/k9wj34/hardware\_wallet\_vs\_usb\_stick/

    FUNDAMENTAL Rules :

    NEVER give out your private key if someone PM/DMs you...do NOT give it to them EVER.

    They may even chat text you.

    NEVER put your private key on a computer, laptop, cell phone, or even encrypted on the cloud.

    EVER.

    NEVER show your private key to anyone. EVER.

    Folks need to understand how mining pools actually work...

    https://www.youtube.com/watch?v=i9olPVbxOBM

    Why every bit of bitcoin you buy, counts start at 1:40 :

    https://www.youtube.com/watch?v=LgH3\_3UQRe8

    But will the government shut bitcoin down!?!?!!?!

    https://www.youtube.com/watch?v=Zulqc3XoeFA

    *****Just how rare is bitcoin?****

    https://www.youtube.com/watch?v=oqOIiuFqxwY

    (Associated website used in example for video: https://news.livecoinwatch.com/bitcoin-each-human-alive-getem-cold/)

    What bitcoin haters dont want you to know :

    https://www.youtube.com/watch?v=Ii2ZOvu0t1M

    This video, Is bitcoin too expensive....from 2017 :

    https://www.youtube.com/watch?v=-0YOEocuJLo

    Last but not least...take a look at this :

    https://www.youtube.com/watch?v=V4Du4fffOwI

    If bitcoin was distributed equally to each person on earth, how much would they have :

    http://bitcoinsperperson.com/

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

    Bitcoin Performance in its first decade (this includes traditional stocks) :

    https://www.bloomberg.com/news/articles/2019-12-31/bitcoin-s-9-000-000-rise-this-decade-leaves-the-skeptics-aghast

    Just how big is Bitcoin? (Scroll down the list until you see Bitcoin--and remember, these are NATIONS)

    https://www.lopp.net/m1/rank.html

    What every bitcoin hater doesnt want you to know :

    https://www.youtube.com/watch?v=Ii2ZOvu0t1M

    Big Dog Investors:

    https://bitcointreasuries.org/

    submitted by /u/simplelifestyle
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    Its 2030 and after he puts his teeth in for the Camera Peter Schiff has this to say about Bitcoin...

    Posted: 22 Aug 2021 06:03 PM PDT

    "Idiot hodlers should have sold when bitcoin hit 1.5 million"

    Meanwhile gold continues its rally to $1850.00

    submitted by /u/TerribleD
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    Asset managers rush to file applications for bitcoin futures ETFs

    Posted: 22 Aug 2021 09:41 PM PDT
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