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    Monday, October 11, 2021

    Bitcoin Mentor Monday, October 11, 2021: Ask all your bitcoin questions!

    Bitcoin Mentor Monday, October 11, 2021: Ask all your bitcoin questions!


    Mentor Monday, October 11, 2021: Ask all your bitcoin questions!

    Posted: 10 Oct 2021 11:12 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, October 11, 2021

    Posted: 10 Oct 2021 10:09 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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    US nuclear submarine engineer and his wife are charged with passing secrets to a foreign government hidden in PEANUT BUTTER sandwiches after being paid $70,000 in crypto – but they were actually dealing with undercover FBI agents.

    Posted: 10 Oct 2021 07:59 PM PDT

    $30B Daily Moving On Bitcoin Blockchain-BTC Is Doing $190k Per Second Compare To $130k Per Second By Visa For US Customers

    Posted: 11 Oct 2021 01:35 AM PDT

    100 Years Ago Henry Ford Predicted Bitcoin

    Posted: 10 Oct 2021 07:03 AM PDT

    100 Years Ago Henry Ford Predicted Bitcoin

    https://preview.redd.it/p6keozqdqms71.jpg?width=1200&format=pjpg&auto=webp&s=af009b2cab9c9fa1c795a5f47cf00c21e37789e1

    On December 4, 1921, The New York Tribune published a story detailing a plan by inventor Henry Ford, founder of the Ford Motor Company, to replace the existing gold-backed currency system into one based on an "energy currency."

    Ford goes on to say "Under the energy currency system the standard would be a certain amount of energy exerted for one hour that would be equal to USD 1. It's simply a case of thinking and calculating in terms different from those laid down to us by the international banking group to which we have grown so accustomed that we think there is no other desirable standard."

    "The essential evil of gold in its relation to war is the fact that it can be controlled. Break the control and you stop war."

    What a visionary. Its as if Ford was reincarnated as Satoshi to carry on his work with todays tech. Pretty amazing an industry giant of his time was thinking this way.

    submitted by /u/KingTimKap
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    El Salvador to build $4M veterinary hospital using profits from Bitcoin trust

    Posted: 10 Oct 2021 11:41 PM PDT

    Decided to buy $25 of Bitcoin every week, for the rest of my life

    Posted: 10 Oct 2021 09:59 AM PDT

    It's not a lot of money, and I'm going to increase it when I have a better income but I've been thinking about this a lot. I honestly think Bitcoin will continue to grow and instead of meticulously buying the dips and HODLing, I'm going to treat it like a mutual fund or an index fund because I think the curve will keep climbing over the course of decades. Does anyone see something I don't and think this is a bad idea?

    Edit: wow thanks for all the replies and positivity everyone! You cleared up my doubts lol. Best of luck to you all!

    submitted by /u/hotdog-water--
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    US Senator: Bitcoin should be part of “every investment portfolio.”

    Posted: 10 Oct 2021 10:51 AM PDT

    steam should reenable BTC payments with lightning

    Posted: 10 Oct 2021 02:21 PM PDT

    https://www.theverge.com/2017/12/6/16743220/valve-steam-bitcoin-game-store-payment-method-crypto-volatility

    Steam says it could reconsider this decision to remove bitcoin as a payment option in the future if the currency finds more stability,

    submitted by /u/wonkersbonkers1
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    We’re definitely early.

    Posted: 10 Oct 2021 03:35 PM PDT

    Was playing Catchphrase last night with 8-9 other people, similar age to me (30). He was trying to describe platinum record. Started off by saying it's better than Gold. Everyone said silver, lol, he said no, I said Bitcoin. No one laughed or batted an eye. It sucks that I can't talk to anyone in person about BTC…

    submitted by /u/UrethreaFranklin1
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    We're Missing the Point on Bitcoin

    Posted: 10 Oct 2021 07:42 PM PDT

    When Bitcoin becomes the base layer for our world economy, BTC price won't matter anymore.

    We need to stop thinking BTC to 100k, 1mil, etc.

    I don't really know how we measure the value of BTC at that juncture...

    A good start is this:

    21,000,000 BTC ÷ 7,750,000,000 people = 0.0027 BTC

    So even if you have just 0.1 BTC, that means you have 37 times the amount of what one person should have, all things being equal.

    From there, the market will reveal the true price of goods.

    This reality is closer than we realize.

    submitted by /u/ShopDiesel
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    How much Bitcoin will you need, at age 65, to retire with?

    Posted: 10 Oct 2021 06:12 PM PDT

    How much do you think you need to have sacked away so your "Golden Years" will be set?

    submitted by /u/TheFutureofMoney
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    JP Morgan: Institutional Investors Prefer Bitcoin (BTC) Over Gold as Inflation Fears Rise

    Posted: 10 Oct 2021 12:17 PM PDT

    Fact: Fiat is $100T, Bitcoin is only $1T

    Posted: 10 Oct 2021 03:55 PM PDT

    There are ppl screaming "Bitcoin is $55k oh no its too expensive"

    Wrong. Why? Anyone?

    Hint: even if Bitcoin only takes 20% of fiat, it is $20T of the current $100T fiat system, meaning 20 fold from now so roughly $1m per coin

    Prob the reason why Satoshi set the coins at 21m in the first place, guy estimated how much value Bitcoin will extract from other asset classes

    P.S. shhhhhhhh!!! This is for Redditors only …….buy more before the whole world wakes up Monday

    submitted by /u/kadudu888
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    Holding BTC and not selling the top..

    Posted: 10 Oct 2021 06:13 PM PDT

    Hey Gang,

    I'm not a trader. I keep watching videos of Youtubers talking about selling the top of BTC this bull cycle. Makes sense..

    However,

    What if a person was to just hold their BTC and not sell for say 3 years?

    Would it wise to just do that instead of trying to sell at the top and hope that it goes down to buy back in at a cheaper price? Not to mention there's the tax issue of trading. Why not just wait for 3 years and then do some DCA out of BTC?

    Thanks!

    submitted by /u/Objective-Poem-6641
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    And you?

    Posted: 10 Oct 2021 08:26 AM PDT

    BREAKING: Former UK Chancellor Philip Hammond joins crypto start up Copper

    Posted: 11 Oct 2021 03:28 AM PDT

    Former Chancellor of the Exchequer, Philip Hammond, has taken the plunge into the crypto space and joined Copper as an adviser.

    Founded in 2018 Copper is a custodian and trading platform which caters to over 400 institutional clients, including banks. The company handles around $50bn in transaction value each month.

    Lord Hammond commented on the move, saying that he hopes the company can help "secure the UK's global leadership in this field for decades ahead."

    "Copper is a true pioneer of digital asset investment technology, innovating the highest standards of security and trading for financial institutions," Hammond added.

    Full story for City AM: https://www.cityam.com/philip-hammond-joins-crypto-start-up-copper/

    submitted by /u/c-r-y-p-t-o-
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    Edward Snowden Calls CBDCs ‘Cryptofascist Currency’ — ‘Closer to Being a Perversion of Cryptocurrency’

    Posted: 10 Oct 2021 08:09 AM PDT

    Bitcoin NFTs Take Off - Ultimately EVERYTHING will be built on top on Bitcoin.

    Posted: 10 Oct 2021 09:28 PM PDT

    You ever wonder if Satoshi Nakamoto visits this sub?

    Posted: 10 Oct 2021 08:44 PM PDT

    Then he reads a few posts to himself and smiles, knowing he silently and anonymously created one of the largest disruptions in finance and government history? Well, just in case you are, thank you.

    submitted by /u/CupEnvironmental2282
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    Sri Lanka aims to realize digitalization by introducing blockchain technology and cryptocurrency mining.

    Posted: 11 Oct 2021 01:00 AM PDT

    That guy who always reminds you when BTC dumps, the same who stays silent when it pumps.

    Posted: 10 Oct 2021 09:23 AM PDT

    We all know one of those...

    Many of us got this epiphany moment like "holy shit, i get it now. World needs Bitcoin. Fiat is an scam!". So obviously next step is to share our new perspective of money with our near ones. Not trying to convince but show them the logic behind such a powerfull protocol, and therefore the need of adoption.

    Sometimes it goes good and we can have a nice conversation, but often, very often times we got into that guy who could just argue non-stop FUD news, that guy who got his mind made up and there is no fact that could change his way of thinking.

    This guy will then always reminds you when it dumps, without realizing us holders love dips so we stack more cheap.

    The same guy who bites his own tongue when it pumps.

    I never say much to those guys, but i will.

    The "i told you so" moment will come, i can wait years, and i will wait stacking sats.

    submitted by /u/Ar0war
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    Due to popular demand, I have made the spreadsheet available! Track your net worth over time and invest wisely (EUR and USD templates)

    Posted: 11 Oct 2021 03:05 AM PDT

    Time to delete Coinbase. They will sell you out to the government. They are responsible for the death of JStark.

    Posted: 10 Oct 2021 08:19 AM PDT

    Bitcoin as a Savings Account

    Posted: 10 Oct 2021 04:03 PM PDT

    I'm very interested in transitioning most of my savings into Bitcoin but I also want to mitigate the volatility. Is this possible?

    Let me hear how you do it. How do you pay your bills and maintain your quality of life?

    submitted by /u/ShopDiesel
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    UP // 90X165 cm ,Aerosol & Markers on Canvas

    Posted: 11 Oct 2021 02:44 AM PDT

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