Bitcoin Daily Discussion, October 06, 2021 |
- Daily Discussion, October 06, 2021
- Why does everyone think Bitcoin is so volatile? Just do this.
- In the over 12,9 Million Documents and Terabytes of Data detailing how Billionaires and Politicians have avoided Taxes, Bitcoin is not used a Single Time.
- Think somebody can guess or accidentally get your seed phrase? Nope, and I’ll prove it with free money.
- BREAKING: SEC Chairman Gary Gensler says the SEC has no plans to ban bitcoin or cryptocurrencies.
- MicroStrategy confirm that buying/ holding bitcoin is now their primary corporate business strategy in a letter to the FASB, with growing their analytics software second.
- Buying the dick
- Ken Griffin
- Bitcoin Back Above $50,000 as BofA Says ‘Too Large to Ignore’
- Bitcoin is the best performing asset in the past year (+49.1%) while gold is the second worse (-7.9%).
- In Switzerland ���� you can buy #BTC from the same machine where you buy your train tickets
- Colombia Could Use Waterfalls to Produce Bitcoin, Not Cocaine: Senator Petro
- The Polynesian Kingdom of Tonga situated off of the coast of Australia is following in El Salvadors footsteps with a proposed bill to make Bitcoin legal tender.
- Hedge Fund Billionaire Ken Griffin Sees Crypto-Mania As ‘Jihadist Call’ Against Dollar
- Bitcoin is going to be the next technology that is used to leapfrog inferior systems in developing nations
- El Salvador is proving that Bitcoin is also a currency. The reclassification of Bitcoin as nothing but an asset by governments is a direct attack on Satoshi's ultimate dream. We must always remember and fight for BTC's right to be an Electronic Cash not an Electronic Asset.
- Bitcoin set to become legal payment in Brazil
- US Bank Launches Crypto Services Amid Strong Demand
- US Bank to announce Bitcoin Custody Service
- Never had this much money before all thanks to bitcoin
- SEC Chair Gensler Confirms Crypto Will Not Be Banned In The US
- My mom wants me to invest in Bitcoin
- The State of Lightning
- BTC capacity on the Lightning Network is growing exponentially
- Bitcoin's Price Breaks $50,000 Barrier
| Daily Discussion, October 06, 2021 Posted: 05 Oct 2021 10:01 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. [link] [comments]  | ||
| Why does everyone think Bitcoin is so volatile? Just do this. Posted: 05 Oct 2021 07:08 PM PDT
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| Posted: 05 Oct 2021 08:55 AM PDT Pandora Papers: Terabytes of data, 12.9 million documents, all detailing how billionaires and over 300 corrupt politicians have avoided taxes, and Bitcoin was not used a single time by them. How can it be that exactly the politicians who claim that crypto would be the main accelerator of financial crime and tax evasion have used exclusively the broken old financial system to do that which they blame crypto on supporting. With Bitcoin every single transaction would be transparent on the blockchain, everyone could see where all the money is going. Wondering why they are so against it? The reason seems more obvious than ever. Pandora papers showed that people are using loopholes in tax laws to hide their wealth in tax havens to hide their wealth or ill gotten gains. They are not using cryptocurrency to do that, there are plenty of loopholes in tax laws for doing it legally. The rich are holding properties and investments under a network of offshore companies that are set up in other countries, or "offshore". These offshore countries or territories are where: - it's easy to set up companies - there are laws that make it difficult to identify owners of companies - there is low or no corporation tax. The best part of it is that using tax havens to dodge taxes is not illegal. Loopholes in the law allow people to legally avoid paying some taxes by moving their money or setting up companies in tax havens, but it is often seen as unethical. Its estimated that from $5.6 trillion to $32 trillion is hidden in tax havens, according to the ICIJ. The IMF has said the use of tax havens costs governments worldwide up to $600bn in lost taxes each year. To hide money all you need to do set up a shell company in one of the countries or jurisdictions with high levels of secrecy. This is a company that exists in name only, with no staff or office. It costs money though. Specialist firms are paid to set up and run shell companies on your behalf. These firms can provide an address and names of paid directors, therefore leaving no trail of who is ultimately behind the business. When such a huge amount of money is hidden in offshore havens, the rich still blames cryptocurrency as the culprit for money laundering. This is classic gaslighting. They are projecting and blaming the most vulnerable group, what they do themselves. This legal way of tax dodging will never end because the people that could end the secrecy offshore are themselves benefiting from it. So there's no incentive for them to end it. Its time more people speak up against this and move more towards cryptocurrency where all data is independently verifiable. [link] [comments]  | ||
| Posted: 05 Oct 2021 09:35 PM PDT I see quite a few posts/comments regularly from people wondering if a 24 word seed phrase can be guessed, hacked, brute forced, etc. So here's a simple proposition: I'll give you a chance at free money. Don't believe me? Here's the challenge... I've deposited 10,000 sats into a wallet. You get to guess the seed phrase. To make it even easier, I'm going to give you ALL of the words. That's right, I'm literally going to give you ALL of the seed words, in random order, for your guessing pleasure. Here they are: All 24 of them right there. But there's not actually BTC in there right? WRONG. Go ahead and check the balance HERE You've even got the zpub there to see all addresses for the wallet. I'm not shitting you. The words are there. The free BTC is there. Just go and get it right? RIGHT? -------------------------------------------------- Now, if you want to find out why you're going to fail miserably at this, keep reading... Why is it near (and I mean neeeaaarrr) impossible for someone to be randomly assigned your words, or to be guessed by somebody else? To find out, let's start with a worst case scenario, a head start if you will: Somebody knows all of your 24 words, but not the exact order of them. You might think that's an INSANE advantage right? Let's see... To find out how many ways you can order 24 words, we can use a factorial. A factorial is simply multiplying a number by all of the numbers below it, denoted by a "!" after the number. 4! = 4 x 3 x 2 x 1 = 24 So what's the factorial of 24?... 24! = 24 x 23 x 22 x 21... = ~620,000,000,000,000,000,000,000. That is 620 sextillion unique ways to order 24 words. To put that into perspective, the average high end gaming computer has a clock speed of 4GHz, meaning it can make 4 billion calculations per second. 620 sextillion / 4 billion = 155 trillion seconds. 155 trillion seconds / 60 / 60 / 24 / 365 = 4,915,017 years to find all permutations using a modern gaming PC. Unless they've got a quantum super-computer, nobody will simply guess, stumble upon, or brute force your seed phrase. And this is knowing ALL of the words to begin with. Hell, even with a super computer it'll still take years to find. If you don't know every single word for the phrase, go ahead and multiply that number by 2,048!. Those are the REAL odds you have to worry about. TL;DR: You're screwed. Bwahahahahahahahahaha [link] [comments]  | ||
| BREAKING: SEC Chairman Gary Gensler says the SEC has no plans to ban bitcoin or cryptocurrencies. Posted: 05 Oct 2021 03:45 PM PDT
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| Posted: 05 Oct 2021 05:47 PM PDT In a recent letter to the FASB found HERE, President & Chief Financial Officer of MicroStrategy, Phong Le writes: "In the first quarter of 2021, we determined to pursue as part of our overall corporate strategy, a strategy of acquiring bitcoin with our liquid assets that exceed working capital requirements, and from time to time, subject to market conditions, issuing debt or equity securities with the objective of using the proceeds to purchase bitcoin. We now pursue two corporate strategies in the operation of our business: (1)to acquire and hold bitcoin, which we view as a store of value, supported by a robust and public open-source architecture, that is untethered to sovereign monetary policy and can therefore serve as a hedge against inflation and (2) to grow our enterprise analytics software business to promote our vision of Intelligence Everywhere. " The history of Bitcoin will never forget MicroStrategy. [link] [comments]  | ||
| Posted: 05 Oct 2021 01:21 PM PDT | ||
| Posted: 05 Oct 2021 11:05 AM PDT A douche bag with a 238 Million dollar apartment wants to talk smack about Bitcoin. Scumbag! Modern day Marie Antoinette. Buying more Bitcoin. Screw this system and screw the media with their Billionaire worship. Most of these Billionaires got rich by insider trading, backhanded favors and corruption. That's it. The petrodollar is just an index of corruption, slavery and war. Enough! [link] [comments]  | ||
| Bitcoin Back Above $50,000 as BofA Says ‘Too Large to Ignore’ Posted: 05 Oct 2021 08:06 PM PDT
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| Posted: 05 Oct 2021 08:13 PM PDT
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| In Switzerland ���� you can buy #BTC from the same machine where you buy your train tickets Posted: 06 Oct 2021 03:02 AM PDT
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| Colombia Could Use Waterfalls to Produce Bitcoin, Not Cocaine: Senator Petro Posted: 05 Oct 2021 02:24 PM PDT
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| Posted: 05 Oct 2021 08:24 AM PDT
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| Hedge Fund Billionaire Ken Griffin Sees Crypto-Mania As ‘Jihadist Call’ Against Dollar Posted: 05 Oct 2021 07:18 AM PDT
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| Posted: 05 Oct 2021 01:51 PM PDT Essentially, leapfrogging is when a developing nation skips over inferior technology in favor of more advanced tech that is available. Some examples of this are developing countries having high usage of mobile phones, when landline infrastructure isn't even in place Or the use of solar panels in small villages, preventing the need for connecting far away locations to a centralized grid. Here's a great article https://www.csis.org/analysis/need-leapfrog-strategy We are seeing this in real time in El Salvador, a nation where the average person doesn't even have a bank account, now 3 million use the chivo app and have access to the global market that previously was out of their reach. [link] [comments]  | ||
| Posted: 05 Oct 2021 03:25 AM PDT Governments have always known exactly what they are doing by the early reclassification of Cryptocurrencies to nothing but Cryptoassets. A move to protect idea that in Bitcoin should be anyway considered a rival to the Dollar, Euro, Pound etc and disadvantage it with taxation. No matter what side of a fork you sit on I'm sure everyone would agree, Satoshi's end game was not to create a digital asset... it was to create a p2p electronic cash system. Can never forget or stop fighting for that cause. [link] [comments]  | ||
| Bitcoin set to become legal payment in Brazil Posted: 05 Oct 2021 11:41 AM PDT
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| US Bank Launches Crypto Services Amid Strong Demand Posted: 06 Oct 2021 01:06 AM PDT
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| US Bank to announce Bitcoin Custody Service Posted: 05 Oct 2021 06:53 AM PDT The Domino is starting to fall. This is a major bank, I have my home Mortgage worth Millions tied to this bank. [link] [comments]  | ||
| Never had this much money before all thanks to bitcoin Posted: 05 Oct 2021 02:04 PM PDT Hey so I always had a problem saving money, any time I saw a significant amount in my account I would some how spend it. A few months ago my friend introduce me to crypto currency I was sold to the vision so much so I dumped my money that would be otherwise in my savings into bitcoin and well today I have the most amount of money I've had it's such a good feeling. I'm well aware of the risks however if I had that money in my bank account savings I would almost guarantee that it would be finish by now. [link] [comments]  | ||
| SEC Chair Gensler Confirms Crypto Will Not Be Banned In The US Posted: 05 Oct 2021 10:12 PM PDT
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| My mom wants me to invest in Bitcoin Posted: 05 Oct 2021 06:31 AM PDT I have been fairly open about my investment in cryptocurrency with my mom, I told her my reasons and my outlook on the space Now, my mother is 12 months away from retirement. She inherited some money and is asking me to invest a small portion of this money in crypto (the equivalent of 5 months of her salary). She is not tech savvy and she is asking me to invest for her. She is aware of the risks and not relying on this money. Hearing from my experience she is hoping to get a return as well as it could help her in retirement. She is also aware that she could lose that money. Any advice on how to approach this situation? Should I tech her how to do it herself or do it for her? Edit: Thanks everyone, really valuable perspectives and inputs. I will continue helping her educate herself and buy on her behalf for the moment, hoping to transfer to her own cold wallet one day when she'll feel ready to self custody. [link] [comments]  | ||
| Posted: 06 Oct 2021 02:05 AM PDT | ||
| BTC capacity on the Lightning Network is growing exponentially Posted: 05 Oct 2021 12:49 PM PDT
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| Bitcoin's Price Breaks $50,000 Barrier Posted: 05 Oct 2021 04:03 AM PDT
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