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    Bitcoin Mentor Monday, September 13, 2021: Ask all your bitcoin questions!

    September 13, 2021

    Bitcoin Mentor Monday, September 13, 2021: Ask all your bitcoin questions!

    Mentor Monday, September 13, 2021: Ask all your bitcoin questions!

    Posted: 12 Sep 2021 11:15 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, September 13, 2021

    Posted: 12 Sep 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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    That's what will happen to Gold

    Posted: 12 Sep 2021 07:52 PM PDT

    EU proposal to register every possession of citizens.

    Posted: 13 Sep 2021 02:02 AM PDT

    In a new EU proposal a plan is revealed to register every possession of EU citizens.

    (No English link found yet).

    This will cover; houses, ground, cars, stocks, money, precious metals, crypto currencies, boats, etc.

    In short they simply would like to register everything of any value you own.

    The basic reasoning is this is needed to prevent; money laundering, other criminal activity and prevent terrorist activity and funding.

    In practice every single action to register these things is used to be able to tax people or get more control.

    Most of these arguments are pretty useless as long as governments themselves shovel around pallets of cash, as was again proven in their disastrous abandoning of Afghanistan, that will fall into the hands of exactly those organizations they say they want to stop.

    Not to mention the Billions in fully functioning military hardware that is left behind to be picked up by those same organizations. Among that are even third generation night vision devices that I as law abiding citizen cannot buy due to American export restrictions but apparently is fine to leave behind to a fundamental Islamic organization that were called terrorist for decades.

    All this seems to be fine but governments do want to know our personal belongings in detail of which we all paid an pretty high tax burden already, to make sure that money isn't used to fund terrorist organizations.

    Sorry government we can't even provide those terrorist with the same hardware you are actually giving to them...

    Let's get this clear they want more control and will always need more money. The growing governments will take as long as we let them and this is only the first step of registration of everything to in a later stage have the possibility to tax more or be able to make a more fair distribution of wealth if they see needed.

    Slowly every freedom and every part of privacy is taken away.

    History has shown us every single government will abuse their powers, whether it is money printing, taxing or straight out confiscation, if the right circumstances come along or the wrong person comes to power.

    Once privacy and freedom is given away there are no means left to escape a government turning against their population or against any parasitic behavior, it could be called socialism or whatever it always comes down to the fact money will be found somewhere to redistribute.

    Let your voice be heard.

    submitted by /u/Btcyoda
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    New tax laws being drafted for crypto!

    Posted: 12 Sep 2021 04:54 PM PDT

    https://www.politico.com/news/2021/09/12/corporate-tax-rate-511570

    Heads up! The Democrats are looking to change the wash sale rules for cryptocurrency in the 3.5 trillion dollar bill. This article linked discusses it in a one off comment. They never like to reveal the tax increases too early before they pass it because they don't want us to have time to object and mount a campaign against.

    submitted by /u/This-is-all-
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    Ukraine set to become next country to make Bitcoin legal tender

    Posted: 12 Sep 2021 04:54 AM PDT

    I'm from El Salvador...UPDATE

    Posted: 12 Sep 2021 09:19 AM PDT

    Hi, I'm the guy who made this post and anwser most of your questions. I want to give everyone a quick update on how things are going.

    ​

    -There haven't been any protest since september 7. Any kind of debate has gone to social media, people who support the law and those against it.

    -The economy is ok, btc law implementation have not affect anything so far, for most people is just another payment method. It's like nothing have happened.

    -Chivo app (official wallet) have still many issues, not from servers but the app itself, people are reporting many types of bugs and its funcionality is almost 0. It seems the app wasn´t ready to be released. You're logged out when you open or use the app, sometimes it works, sometimes not.

    Lightning network is fine, transactions are instantly. Transactions over the normal btc network takes a while, hours and days. There's a bug (not sure if it's alredy fixed) that sends a different amount of money than what you specify, for example, I wanted to send $20.00 from chivo app to my exodus wallet over btc network, the succes sign appear on chivo app but when looking at my balance again I notice only $2.00 have been sent...more than 3 days have passed and I haven't receive the money in my exodus wallet. On chivo app there is a clock sign next to that transaction, I assume the money is still on the way. This had happened to many users. The delay issue also appears from chivo to bank account transactions. Most stores aren't accepting btc if you're using chivo, you need to use other wallets.

    Chivo app information that I know:

    ---Lightning Network

    ---Btc invoice address format is P2SH

    ---Sending money from chivo to other wallets have 0 fees. (Since the sender is the one who pays the fees)

    -Chivo ATM's are presenting problems too. Some of them are closed or removed. Don´t really know the exact reason.

    -Many stores are waiting for POS systems to be delivered and are not accepting btc.

    -For the people who wants to help small local producers by purchasing their products with btc or simply wants to contribute buying a cup of coffee like r/BtcCoffee, I highly suggest to wait a couple of weeks for chivo app to work correctly, only in that way an impact can be made. People doesn't know that a worldwide community wants to support them.

    I work in marketing and I may be able to to create a link for those who are interested in supporting small local producers with btc. If someone is thinking of buying houses or land here in my country or at least wants to get some insights about it, I recently made contact with some real state sellers so I can be of help.

    Anyways, as I've said before, let's wait a couple of weeks and see how things evolve. Please remember my username so you don't miss any update.

    *If you have any questions please look first at my last post where I describe most of what is happening.

    submitted by /u/Tux_fan
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    House Democrats sneaking crypto wash trading rules into tax increase bill

    Posted: 12 Sep 2021 05:21 PM PDT

    “Bitcoin supply on exchanges at 3 years low. Whales accumulated a lot. Grayscale has no Bitcoins unlocked to sell from today till February. Q4 will be madness. We are ready”

    Posted: 12 Sep 2021 02:51 PM PDT

    I was shopping at Superbuy and saw that they accept Bitcoin

    Posted: 13 Sep 2021 12:57 AM PDT

    My experience using crypto ATM's at El Salvador

    Posted: 12 Sep 2021 10:10 PM PDT

    I wanted to cash out on some of my crypto investment and decided to try out through the crypto ATM's, at the moment there are two type of ATM working in El Salvador: Athena and Chivo. Chivo ATM only works with Chivo wallet, not available in my device yet since the rollout has been very slow and its been reported to have a lot of issues, so my only option was the Athena ATM. There was a huge crowd of people trying to use Chivo wallet at that ATM but it didn't seemed to be working, I completed my selling process at 4:32PM on saturday 11th and confirmed through Binance it was successful however no withdrawal confirmation by 6:30PM so decided to contact Athena customer service.

    On sunday 11th, 18 hours later I finally received the withdrawal confirmation however the Athena ATM was offline. I drove to another Athena ATM and tried to use the withdrawal code but it gave me an "Invalid code" error. At the time no reply from customer support from Athena. Thankfully it was just a couple hundred dollars so no much to worry about. What seemed bizarre to me was the people I met while waiting in line, most of them were small business that received payments from customers and had to cash out so they could pay vendors, non of them were successful using chivo.

    TL;DR El Salvador seems to be a shit show due to poor planning and is making crypto look bad. Also lost a couple hundred but meh.

    submitted by /u/kilvertc
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    Poll: 48% of Brazilians Support Making Bitcoin Their Official Currency

    Posted: 12 Sep 2021 12:36 PM PDT

    “If you FOMO on a green day... You won’t have enough ammo to FOMO on a red day If you must FOMO - choose a red day”

    Posted: 12 Sep 2021 06:05 PM PDT

    Cryptocurrency To Be Accepted By Visa In Brazil

    Posted: 12 Sep 2021 01:11 PM PDT

    “Bitcoin is digital energy. Fiat is political energy. Bitcoin miners convert electrical energy into digital energy. Bitcoin exchanges convert political energy into digital energy. Digital energy is indestructible, immortal, instantaneous, and incredible.” -Michael Saylor

    Posted: 12 Sep 2021 01:47 PM PDT

    Bitcoin Genesis Block Posters Free Files!

    Posted: 12 Sep 2021 07:38 AM PDT

    IMF blog - Bitcoin as national currency a step too far

    Posted: 12 Sep 2021 11:18 PM PDT

    I’ve never seen a better reason than this for Bitcoin.

    Posted: 12 Sep 2021 07:27 AM PDT

    The Biden administration has proposed requiring all community banks and other financial institutions to report to the IRS on all deposits and withdrawals through business and personal accounts regardless of tax liability. This indiscriminate, comprehensive bank account reporting to the IRS can soon be enacted in Congress and will create an unacceptable invasion of privacy. So, how does this affect you? If passed, the proposal would require financial institutions to report the inflows (deposits) and outflows (withdrawals) of $600 or more, on personal and business accounts to the IRS regardless of customers' consent.

    https://home.treasury.gov/system/files/136/The-American-Families-Plan-Tax-Compliance-Agenda.pdf?fbclid=IwAR3S0rZg4wnZAvShO2Y64ASfeXYkW6ERwHQtbeHXoFMSBoRasQiIuJ6El7A

    submitted by /u/jondavidlay
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    Unpopular Opinion: Taxing legitimises Bitcoin

    Posted: 12 Sep 2021 07:27 PM PDT

    I see a lot of posts here saying it shouldn't be taxed but from my perspective this legitimises Bitcoin and crypto

    submitted by /u/lawless_c
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    Even with the dip, 47 BTC were traded last week in Venezuela measured only using LocalBitcoin, an increase of 11 BTC from last week. One BTC trades at 185,000,000,000 Bs. (Bolivares). Monthly minimum wage is around 2.4 USD. Six zeroes to be removed in a few weeks.

    Posted: 12 Sep 2021 02:12 PM PDT

    Hi guys, as you know I'm a Venezuelan living here.

    We are talking about 2,000,000 USD traded weekly (BTC - Bs. - USD) in a country where minimum monthly wage is around 2.4 USD and average monthly wage sits around 70-80 USD, seems to be an important amount in my opinion.

    As people always ask, problem is that not enough to live, so coming here (also highly dangerous) with 100 USD monthly won't make you live as a millonarie (well, technically a millionarie in Bolivares hehehe, here everyone is a millionarie as 1,000,000 Bs. is around 0.25 USD)

    LocalBitcoin is not the king when it comes to trade, it's Binance but they don't post their stats, I'm sure the amount Binance trades is MUCH higher. Other exchanges used here are AirTM, Uphold, Reserve and others.

    In three weeks (1st of October), six zeroes will be removed from the currency. So 1,000,000 Bs. (current) will be 1 Bs. (new). Of course, it doesn't stop inflation. Prices will be divided by 1,000,000 but wages too!

    AMA!

    Some sources:

    https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/

    https://www.bloomberg.com/news/articles/2021-07-01/venezuela-to-cut-six-zeroes-off-bolivar-to-simplify-transactions

    https://translate.google.com/translate?sl=es&tl=en&u=https://www.descifrado.com/2021/04/13/ovf-el-460-de-las-remuneraciones-del-sector-privado-se-pagan-en-dolares/

    https://www.caracaschronicles.com/

    https://coin.dance/volume/localbitcoins/VES/BTC

    https://localbitcoins.com/buy-bitcoins-online/ves/

    https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/

    submitted by /u/WorkingLime
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    Ukraine has passed a law legalizing Bitcoin (BTC) - Blockbulletin

    Posted: 12 Sep 2021 10:46 AM PDT

    Any thoughts? "Undaunted by Bitcoin flash crash, crypto bulls say 'the greatest time' to invest is now"

    Posted: 12 Sep 2021 06:07 PM PDT

    Relaxing Michael Saylor speaks on Bitcoin in the night (1h)

    Posted: 12 Sep 2021 11:55 PM PDT

    Americans Spend Around $72B on Lottery Tickets Annually

    Posted: 12 Sep 2021 08:03 AM PDT

    so much hopium, they really should try bitcoin/crypto instead with all that money

    submitted by /u/Yard_Fair
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    Bitcoin price time-lapse - 6 years in 60 seconds [Animation; Chart]

    Posted: 12 Sep 2021 02:06 PM PDT

    Bitcoin price time-lapse - 6 years in 60 seconds [Animation; Chart]

    I always wondered how the charts looked like, say, 3 years ago, when nothing was known about this year's ATHs. So I decided to make an animated chart exploring this particular idea.

    This animated chart displays 1Y worth of BTC price action at any given point in time. By watching this chart you can imagine how people felt back then, and relive the moments.

    The chart stops at the last frame for a few seconds, then loops from the start. Like any time-lapse video, the one above too speeds up the real time events (3.5m times faster). I.e., 1 day equals 25 milliseconds.

    ---

    Data source: Yahoo Finance BTC-USD CSV.

    P.S.: Don't worry, if animation doesn't load up immediately. It might take some seconds to load up.

    P.S.2.: Viewing from both Android and iOS usually works, but desktop might crop the last 300 frames for some reason.

    submitted by /u/pc1e0
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    Bitcoin and Global Adoption Survey ( 2 - 5 minutes)

    Posted: 13 Sep 2021 12:53 AM PDT

    Hi all,

    I am currently doing research project as a subject. Research project requires primary research such as interviews or surveys surrounding the chosen topic. In my topic, I seek to discover whether Bitcoin is a viable currency option for countries to adopt.

    It would mean a lot if any of any of you could take the survey :)

    Link to survey: https://forms.gle/MuoFidgBJxTECDpB7

    submitted by /u/Embarrassed_Row_9209
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    Mining Bitcoin with Excel

    Posted: 12 Sep 2021 03:36 PM PDT
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