• Breaking News

    Tuesday, November 2, 2021

    Home Unlabelled Bitcoin Daily Discussion, November 02, 2021

    Bitcoin Daily Discussion, November 02, 2021

    November 02, 2021

    Bitcoin Daily Discussion, November 02, 2021

    Daily Discussion, November 02, 2021

    Posted: 01 Nov 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.

    submitted by /u/rBitcoinMod
    [link] [comments]

    No, Bitcoin is not controlled by a small group of investors and miners (A rebuttal to the TechSpot article)

    Posted: 28 Oct 2021 05:29 AM PDT

    No, Bitcoin is not controlled by a small group of investors and miners (A rebuttal to the TechSpot article)

    https://preview.redd.it/vli0ofqwf6w71.jpg?width=3840&format=pjpg&auto=webp&s=2a704c47375637858c27216379ae8313dadf8be8

    This could be a long read. Kindly bear with me.

    I write this primarily in response to the TechSpot article from yesterday (r/technology mods told me they only allow "mainstream news articles with editorial oversight and fact-checking" so I'm sharing this here).

    But I'd also like to take this opportunity to write about Bitcoin more broadly as someone who has been following it for more than a decade and I'll try to do so without complicating the conversation for anyone unfamiliar with Bitcoin.

    The TechSpot article cites a non-peer-reviewed National Bureau of Economic Research (NBER) working paper from Igor Makarov and Antoinette Schoar.

    NBER claims to be non-partisan but it is a private NPO funded by the likes of Bill Gates foundation.

    The chairman of NBER, Karen Horn, is a former president of the Federal Reserve Bank of Cleveland and Head of International Private Banking for Bankers Trust.

    The authors of this working paper, Igor Makarov and Antoinette Schoar are no experts in Bitcoin.

    Makarov is employed by Financial Markets Group (FMG), which focuses on policy research into financial markets and works alongside banks and regulators in Europe.

    Schoar is a professor at the MIT Sloan School of Management and co-chair of NBER Corporate Finance group, who has previously made it clear that she is no fan of Bitcoin with some pretty misguided takes on it.

    It's critical to note that the data regarding miners cited in this study is from when mining was largely concentrated in China. This is no longer the case.

    The paper claims the authors have "the ability to trace miners on the blockchain." The tracking method shown in the paper is based on subjective, unverified "algorithm to track the distribution of mining rewards from the largest 20 mining pools to the miners that work for them."

    The validity of this conjectural method of tracking was also subjectively verified before all mining operations migrated out of China to many different parts of the world.

    ​

    Bitcoin distribution is not highly concentrated

    The first thing we need to acknowledge with Bitcoin is that it is still very much a nascent monetary system. It has come a long way in a short space of time but it's only been around 13 years and only 3% of the world's population currently use Bitcoin.

    It took the Internet 25 years to get to that point. So while adoption is certainly happening a lot quicker, we still have 97% of the world's population to bring on board. Unlike the banking system, which has ostracized nearly half of the world's adult population, Bitcoin can actually work for every person in the world, no matter who they are or where they come from.

    The top wallet addresses here do not belong to individuals. Almost all active addresses holding greater than 10 basis points of the total supply (greater than 0.1%) are addresses belonging to exchanges and custodial services holding custody of Bitcoin that belong to millions of individual users. Not all exchange addresses have been tagged by bitinfocharts. For instance, the third largest address, looking at activity and transaction patterns, very likely belongs to Coinbase.

    Now you're not supposed to be holding your Bitcoin in exchanges as that defeats the whole point of Bitcoin, besides enabling rehypothecation, which can artificially inflate the supply, and other security risks, but a lot of people do since they're new to Bitcoin, unfamiliar with the concept of self-custody, and inadequately appreciate the purpose and potential of Bitcoin. There are ongoing educational efforts to encourage people to take ownership of their Bitcoin.

    Not your keys. Not your sats.

    The wealth distribution is admittedly far from where it needs to be, but it's heading in the right direction. As more and more users adopt Bitcoin, the Gini index improves markedly. The game theory embedded into the protocol ensures that it does over time. The article from TechSpot claims that 10,000 individuals control a third of the supply. This, even if we assume to be accurate at face value, is a vastly improved figure from only 2 years ago, when less than 5000 wallets were estimated to own half the supply.

    On-chain analytics firm, Glassnode, published a finding earlier this year that ownership of Bitcoin is not highly concentrated and it naturally disperses over time. I'll explain a little later in this article why that is the case.

    ​

    Beyond the cryptocurrency

    Let's try to first understand Bitcoin beyond the cryptocurrency, as a software protocol and what it represents for humanity. Sure, price speculation is fun but for me, it's the least interesting aspect of Bitcoin.

    Bitcoin is open-source software collectively hosted by a pure P2P permissionless network of ∼ 60,000 nodes distributed across the world — by far the largest pure P2P network ever. Anyone in the world can propose changes to this software no matter who you are. There's no central server or hierarchical structure to this network. You don't need anyone's permission to access the network. We don't need to know who Satoshi was to trust the system because the code is open for every single human being in the world to read and scrutinize. Satoshi was simply the first, founding contributor to this open software.

    This is such a revolutionary egalitarian concept so far removed from all the corruption and iniquities that inhere within our extant hierarchical technology and monetary systems that a lot of people understandably find it difficult to grasp but this could fundamentally fix the world and make money and technology at large work for everyone without privileges.

    There's a common misunderstanding that Bitcoin has great value because it was the first digital currency. This is untrue. There were several prior attempts — B-money, Bit gold and Hashcash the most prominent among them. Satoshi's proof-of-work (PoW) algorithm solved a critical flaw in the use of blockchain as a public ledger known as the Byzantine Generals Problem (BGP).

    Solving for BGP meant that we could have an open ledger network without a central server or middlemen where nobody had to trust anybody else for the system to work. Every node within the Bitcoin network is a server with a live copy of the ledger and each node is able to verify the authenticity of its copy of the ledger without having to trust any of the other nodes.

    The concept of blockchain predates Bitcoin by almost two decades. So the value was never in blockchain but the way Bitcoin was able to utilize blockchain as a trustless, permissionless, decentralized public ledger to democratically create, distribute and exchange value.

    On the face of it, it's easy to mischaracterize Bitcoin as some kind of an investment scheme. It is absolutely not that (The Newcoiner Dilemma). Who is to benefit from an investment scheme where nobody is in charge?

    Bitcoin is a complete revamp of our monetary system to make it work for everyone and more broadly, as a software protocol, Bitcoin has the potential to fix the Internet's original sin — centralization at the hands of few privileged gatekeepers — and restore it to its originally intended form as a decentralized P2P network protocol.

    A network protocol is only decentralized if any participant within the network is able to access and verify the truth (the state of the ledger) on their own in a very economical manner without requiring permission or trust. We've seen many predatory knock-offs since Bitcoin, which are little more than snake-oil marketing gimmicks with fundamentally flawed protocol designs and centralized node architectures. Cynical rent-seeking and exploitation just comes with the territory for any revolutionary technology.

    Permissioned, quasi-permissioned, DINO (decentralized in name only) blockchains are a waste of time. Blockchains are comparatively inefficient databases unless truly decentralized. What makes them special is the ability to individually host, validate and audit the ledger.

    Throughout Bitcoin's history, Bitcoiners have staunchly defended the right of users of the network not to be priced out of running their own node, most famously 4 years ago when Bitcoin users stood firm in the face of pressure from miners and corporate interests to prove that it was the users who truly controlled Bitcoin, not miners and not wealthy investors.

    Anyone can host their own Bitcoin full node on a Raspberry Pi. This allows them to be an equal rights citizen within the network without delegating trust to a third party. If you cannot self-host a node on your own, you're going from trusting bankers to trusting a random person on the internet. That doesn't seem so revolutionary, does it?

    ​

    How does such a network scale?

    Let's take the Internet as an example. The IP suite is a software protocol like Bitcoin. It originally had a monolithic design until we figured out that it could not scale without layered architecture. Bitcoin has undertaken a similar multi-layered approach to scaling in recent years.

    Bitcoin's base layer is the network layer protocol and the monetary settlement layer. Priorities for this layer are maximizing security and trust-minimization. Built on top of this is a payments layer called Lightning Network.

    Lightning Network is a decentralized layer-2 network protocol that uses a native smart contract scripting language to enable instant, almost feeless, global Bitcoin payments.

    In Lightning Network, parties to a transaction are required only to have a sufficiently funded open channel active in the network. This is done through a single on-chain transaction.

    If there is a direct channel open between the parties, the transaction is routed directly and incurs no fee. Without a direct channel, the transaction is routed through routing nodes, incurring a small fee, typically no more than a few sats (fraction of a cent), paid to routing nodes hosted by users of the network.

    You can find a live node map for Lightning Network here. It's pretty remarkable how far Lightning Network has come in only 3 years.

    With Lightning Network's maturation as an infinitely scalable decentralized global payments network, Bitcoin is shifting focus to its next big milestone, Taproot, which is due to go live in mid-November at block height 709632.

    Taproot brings a set of protocols that enhance Bitcoin's privacy, scalability and unlocks the path for seamless integration of application protocols on top of Bitcoin while also ensuring that users are still able to economically run their own Bitcoin full node.

    ​

    Game Theory of Bitcoin

    Cypherpunks were pursuing the concept of Bitcoin, a decentralized P2P monetary system, for two decades. Satoshi completed the final, most important, piece of the jigsaw — solving the Byzantine Generals Problem to prevent double-spend.

    In doing so, Satoshi sought to address two fundamental flaws with fiat money,

    1- Centralized, focused issuance and control of money supply and monetary policy

    2- Trivial cost of issuance

    While issuance entails no cost, the money remains at the mercy of the basest of human qualities, self-seeking greed. All corruptive tendencies of fiat money are a direct consequence of the trivial cost to issue infinite money.

    Satoshi's proof-of-work algorithm solved for these two flaws by implementing an ingenious cost of issuance algorithm that keeps every actor honest and forever scales in proportion to Bitcoin's value as a monetary network —the higher Bitcoin's value, the higher the cost of issuance.

    Proof-of-work requires those who acquire the new supply of coins (miners) to continually input real-world work for their rewards and cover recurring operational costs. The work ensures that those who receive the new supply of money cannot keep hoarding it for themselves. Miners are forced by the game theory embedded into the protocol to redistribute Bitcoin into the market.

    Any monetary system where the creation of money entails no work and cost would be fiat 2.0 all over again, a system where wealth equals power, where the rich forever get richer and the poor get poorer.

    In proof-of-work, wealth != power

    Miners input work and recurring costs to find blocks and receive compensation for their work but the blocks are validated by full node users, not miners. Full nodes enforce the rules — accept or reject blocks found by miners — and hold the power to keep miners honest. Every full node user has one vote. Proof-of-work admits of no corruption or privileges.

    A very large portion of the world's population is affected by either hyperinflation and/or lack of banking services (c. 4 billion people). Bitcoin allows them to connect to an open, permissionless network to generate, store and exchange value where nobody can stop them. The combination of proof-of-work and economical self-hosted nodes distributed all across the world is what ensures Bitcoin's antifragility, securing the network from state attacks.

    ​

    Bitcoin, a global leader in clean energy innovation

    20 years ago, the Internet was boiling the oceans. Today, it's Bitcoin. In 20 years, the next emerging technology. Energy, in manifold forms, has always been fundamental to human interaction and its impact, an ineluctable consequence of human evolution.

    Bitcoin is at once the most fundamentally important technological and monetary evolution for humanity. For the first time in human history, every human on earth can become financially sovereign, set free from the whims of other humans.

    Bitcoin is a huge net positive for humanity and a global leader in renewable energy innovation. The renewable energy share of the Bitcoin network is over 4 times that of the average grid. In 2020, renewable energy sources accounted for only about 12% of total U.S. energy consumption. 58% of global Bitcoin mining operations are powered by renewables.

    According to the Energy Information Administration (EIA), 66% of the primary energy used to create electricity is wasted by the time the electricity arrives at the customer meter. Bitcoin is able to harness stranded/wasted energy, while also mitigating the climate effects of other industries by capturing flared gas that would otherwise be vented into the atmosphere contributing to climate change. Other industries find the cost of transporting energy prohibitive. With regards to coal, almost all of the coal-powered mining was happening in China. They've all since been shut down.

    ​

    The quest for perfect money

    What's money? Anything that's accepted as representing value by the parties to any transaction. It's really that simple. Three thousand years ago, cowrie shells were used to represent value. We've had various forms of money since but the quest remains the same. Humans have always sought money that can hold value over time until it was required to purchase other things that hold value to them — goods and services.

    If we look at money from this perspective, we could argue that money is technology but until now, we never had the technology to come up with a money that was able to fulfill all three functions of money — store of value (SoV), medium of exchange (MoE) and unit of account (UoA).

    Bitcoin is at once a good SoV (scarce and incorruptible), a good MoE (the payments layer — Lightning Network), and a good UoA (infinite divisibility and instant portability across the world).

    I view Bitcoin to be the culmination of humanity's 7000-year technological quest to perfect the representation of value by truly democratizing its creation, distribution and exchange. Never before have we had a money with all the necessary properties of sound money. All previous forms of money had compromises.

    Scarce money has always been sound money but previous iterations of scarce money lacked the other properties required to be viable as MoE and UoA — fungible, readily portable, infinitely divisible, incorruptible, indestructible, provably finite and objectively verifiable.

    Bitcoin ticks all the boxes. It further adds a new dimension to money hitherto unimaginable, obviating the need for trust, eliminating counterparty risk without the burden, cost and attendant inefficiencies of involving trusted middlemen.

    ​

    Fiat money is a pyramid scheme

    It would be remiss not to highlight at this time just how inequitable our current monetary system is and, something we don't often speak of, the jarring impact of inflation-driven compulsive consumerism on climate change.

    The current system of credit constantly incentivizes you through a myriad of machinations to keep spending money from tomorrow's labor, but the new injection of money from your tomorrow's labor ends up being concentrated at the top, with the ultimate consequence of inequitably diminishing your purchasing power and continually enriching those at the top of the pyramid.

    In short, money borrowed against your future labor ends up destroying your own purchasing power while the lender profits off your future labor, both in the form of interest and by being closer to the new money. It's a double whammy. Fiat money post hoc undercuts the value of our work and time, except for the top 0.01%, some of whom have seen their wealth grow almost 10-fold during a once-in-a-hundred-year global pandemic.

    In 1971, President Nixon canceled the convertibility of the US dollar to gold. The subsequent collapse of the Bretton Woods system gave central banks absolute monetary authority as the dollar was no longer required to be backed by gold reserves.

    Central banks' newfound ability to continually manipulate supply, interest rates, and velocity of money has led to deleterious consequences. Perpetual expansion to spur illusory "economic growth" has sent deficits spiraling out of control and resulted in, inter alia, a vicious cycle of high inflation, recession as a consequence of efforts to mitigate the effects thereof and ever-increasing, now extreme, economic inequality.

    I'll just leave it here as to the enduring effects of the Nixon shock.

    ​

    Triffin paradox

    The Triffin paradox explains why any sovereign currency serving as a global reserve currency is unworkable — the state issuing the reserve currency is required to continually run up a deficit to meet the world's demand for its currency. This creates a conflict of interest between domestic and international monetary policies, which becomes untenable in the long run, leading to the collapse of the system. The average lifespan for reserve currencies is 95 years.

    Bitcoin is the only monetary system in history that has the properties to last forever, for, unlike all previous monetary systems, it doesn't derive value from the authority or wealth of the issuer, which is fleeting, but a timeless universal constant — hard-coded mathematics.

    ​

    Closing thoughts

    I'd like to earnestly urge everyone to read mainstream articles about Bitcoin through a lens of scrutiny as to the interests of those who own these organizations. There's an ongoing campaign to poison the well with blatant disinformation while simultaneously accumulating Bitcoin for themselves.

    When you really burrow down the Bitcoin rabbit hole, you come to realize that Bitcoin is quite the culture shock, a monetary paradigm shift irreconcilable with the status quo sustained by immoderate expansion normalized through generational indoctrination of the rationally vulnerable to acquiesce to furtive post hoc theft of the value of their work and time, especially in the last 50 years post-Nixon shock.

    Mainstream media organizations are owned by the banking establishment and beneficiaries of the fiat pyramid scheme who stand to lose a lot of power if 8 billion people were to understand the peaceful revolution that is Bitcoin.

    There are no C-suites, marketing/PR teams in Bitcoin to manipulate public opinion or issue any official statements in rebuttal to intellectually dishonest journalism. Bitcoin keeps plowing along honestly, paying no mind to assorted naysayers motivated by self-interest seeking to further various agendas.

    Tick.. tock.. next block..

    ​

    https://i.redd.it/86izkxf9g6w71.gif

    ​

    I hope the irony of an organization chaired by a former Federal Reserve president decrying the concentration of wealth in Bitcoin while we do not have the ability to peer into an open ledger to scrutinize the concentration of wealth and the transactions of bankers in the fiat monetary system is not lost on anyone.

    Bitcoin fixes this

    submitted by /u/xcryptogurux
    [link] [comments]

    "We go to the moon together"- here's Aaron Rodgers announcing he's taking a portion of his salary in bitcoin, and giving out a total of $1M in BTC

    Posted: 01 Nov 2021 01:46 PM PDT

    Reminder: on this exact day last year, bitcoin was at $13,700.

    Posted: 01 Nov 2021 04:58 PM PDT

    What an incredible year it's been. Through the ups and the downs and the summer of FUD, we managed to enter November over 60k. Just sit back and stare in awe at the 1 year chart.

    submitted by /u/JollyJury
    [link] [comments]

    Why aren't we seeing more local shops and restaurants accepting bitcoin via lightening network in US?

    Posted: 01 Nov 2021 11:09 PM PDT

    Something similar to what they are doing in El Salvador. Some online sites accept bitcoin and even Tesla was for a while, so it has to be legal right? For local businesses, saving 2-3% swipe fee on credit card has to be attractive, right? I live in bay area and there must be a lot of business owners who understand the value of bitcoin, right? I am curious why we are not seeing much at all.

    submitted by /u/traviszzz
    [link] [comments]

    Whoever tells you that lightning is not the real Bitcoin - tell them that wifi is not the real Internet

    Posted: 01 Nov 2021 12:09 PM PDT

    just tired of that already

    submitted by /u/TonyStark028
    [link] [comments]

    Aaron Rodgers from the Green Bay Packers … “I believe in Bitcoin & the future is bright” That's why I’m teaming up with Cash App to take a portion of my salary in bitcoin today. ������

    Posted: 01 Nov 2021 03:01 PM PDT

    Mastercard will allow banks to offer cryptocurrency services

    Posted: 01 Nov 2021 03:20 PM PDT

    Without Bitcoin Singapore risks "being left behind." - Director of the Monetary Authority of Singapore

    Posted: 02 Nov 2021 03:31 AM PDT

    Bitcoin Bar Budapest��

    Posted: 01 Nov 2021 10:08 AM PDT

    Bitcoin is not fighting alone!

    Posted: 02 Nov 2021 04:06 AM PDT

    Goodnight's First Bitcoin ETF Breaks $2.3 Billion in Two Weeks on the Market!

    Posted: 01 Nov 2021 09:16 PM PDT

    Nov. 2 (Bloomberg) -- The total market capitalization of the nation's first bitcoin-linked ETF, the Bitcoin Strategy ETF (ticker: BITO), sponsored and managed by ProShare, has surpassed $2.3 billion as of Oct. 29, 2021, according to the company's official website. According to BITO's official data, as of Oct. 29, its market capitalization was $2.393 billion, of which 51.15% were bitcoin futures contracts and the remaining 48.85% were U.S. government bonds. bitcoin futures contracts held by BITO are cash-settled bitcoin futures issued by the Chicago Mercantile Exchange (CME), and all current positions expire on Nov. 26.

    https://sfl.global/news_post/shouzhibitebietfshangshiliangzhoupo20yimeiyuan/

    submitted by /u/JANE0505
    [link] [comments]

    Bitcoin Faces a “Supply Shock” Due to Little Profit Taking

    Posted: 01 Nov 2021 06:27 AM PDT

    As the price of Bitcoin reached an all-time high in October, a recent report from Kraken Intelligence sheds light on what's behind the surge.

    Details: The data from the report points to a potential supply shock where long-term holders are not taking profits. The number of bitcoins that haven't moved in the past 6 months has already reached a 3-year low, according to the report.

    Big Picture: Basically, the report finds a lot of strength among long-term holders and mining pools. This includes individual miners who have realized modest profits.

    Numbers: The price of Bitcoin skyrocketed over 35% in October.

    Final Thoughts: Despite these trends, the report concludes that there is a considerably healthy macro environment for Bitcoin.

    Hope you enjoyed this commentary. Please subscribe to Early Bird, a free daily newsletter that helps you identify crypto trends: https://earlybird.email/

    submitted by /u/MrComedy325
    [link] [comments]

    Back By Popular Demand! Exploded view of the Stainless Steel seed phrase storage I built (this one is blank). Allen keys on both sides into connector nut, both of those into stainless threaded rod, plastic bushing is temporary while I wait on a stainless one. Seed words punched into washers 1-24.

    Posted: 01 Nov 2021 12:16 PM PDT

    US Senator Endorse BTC, El Salvador Owns $67 Million Worth Bitcoin Now

    Posted: 01 Nov 2021 03:02 PM PDT

    Can someone ELI5 me on how Bitcoin is mined, literally explaining the process of hashing to win the block?

    Posted: 02 Nov 2021 04:23 AM PDT

    The way i understand it is, every block has a header and in each header are various bits of info. The miner has to take a few bits of this info, hash it, only winning the block when the hash fits a certain digit size or something??

    How far off am I in understanding it? This is something that when explaining bitcoin to a noob would be useful to know. Is it explainable in a few sentences?

    Thanks in advance 👍

    submitted by /u/Algohead
    [link] [comments]

    Bitcoin Price relative to M2 and respective purchasing power over the next 10 years

    Posted: 02 Nov 2021 03:08 AM PDT

    Bitcoin Price relative to M2 and respective purchasing power over the next 10 years

    Interesting chart from InvestAnswers Video with R. Breedlove.

    The chart glasbowls the value of Money Expension, Puchasing power and the respective value of inflationary money and a non inflationary alternative like Bitcoin.

    Its interesting to me because i never considered the devaluation of property in wake of the Puchasing Power. While the Property rises in value, it is nowhere enough to outpace the value inflation as an investement.

    Just something to keep in mind and maybe adjust some of your thoughts on money, property and what is key to a good asset.

    https://preview.redd.it/s45xixaqm5x71.png?width=1308&format=png&auto=webp&s=f684bd0297358eeb2cb196e981bd82b09ec76e72

    submitted by /u/NebuLa32
    [link] [comments]

    Fiat & Bitcoin

    Posted: 01 Nov 2021 10:30 PM PDT

    Binance Temporarily Disables All Crypto Withdrawals, Cites Backlog [ NYKNYB ]

    Posted: 01 Nov 2021 05:41 AM PDT

    Tipping hospitality workers with bitcoin

    Posted: 02 Nov 2021 04:07 AM PDT

    Recently downloaded Muun and am loving my new power to actually USE bitcoin wherever possible! Whenever I buy something on fb marketplace I tell the recipient to download Muun and I'll pay full asking price if they accept bitcoin. Almost always works!

    I was thinking of getting a load of cheap business cards printed, explaining to the waiting staff at bars/restaurants "if you had QR code for a wallet on you, I would tip you in bitcoin immediately and you would get to keep 100% of it" and leaving them with every bill I get.

    Unsure on if it would take off or not, so posting here for opinions before I pursue the idea!

    Before people say "stack and hodl" - I do. Anything I spend, I replenish. I have fiat because I would have to spend fiat; why not try and increase bitcoin's visibility and real-world accessibility, if I can simply replenish after each successful sat-spend?

    submitted by /u/joesus-christ
    [link] [comments]

    Monthly Reminder: KEEP STACKING SATOSHIS

    Posted: 01 Nov 2021 08:28 AM PDT

    Whether if it's $5/$10/$20/$50/$100, whatever the fuck, KEEP STACKING! Fuck takeout, cook at home and KEEP STACKING! Fuck going out, read a book, watch a movie and KEEP STACKING! Sell that gaming console you haven't touched in years, and KEEP STACKING!

    Whatever it takes, keep adding to your satoshi stockpile, wales are obviously accumulating at this juncture of the bull market, Bitcoin is going to get expensive very soon. And with the macro view and institutions and countries adopting it, I wouldn't be surprised if we went full on supercycle. Maybe not, but that's the mentality you should have when presented with such an opportunity like Bitcoin. Happy stacking!

    submitted by /u/noniismor3
    [link] [comments]

    Banks Tried to Kill Crypto and Failed. Now They’re Embracing It (Slowly).

    Posted: 01 Nov 2021 02:16 PM PDT

    Vent: Emotionally exhausted

    Posted: 01 Nov 2021 11:43 AM PDT

    So i'm 21, i've been in Bitcoin for 2 years now, and would consider myself very educated when it comes to all things Bitcoin, and consider myself a hardcore Bitcoiner!

    However;

    The last few weeks, I have become very tired, I guess it's the daily hustle to keep things going, I have been really focused on stacking sats, so much that I have actually lost touch with reality, I don't really spend money on myself, I consider it a waste unless i'm stacking sats, and I have exhausted all fiat reserves, including lines of credit, and I continue to exhaust incoming fiat on stacking sats aswell!

    Now, I know 10 to 15 years from now, future me is going to thank me for my current sacrifices, however it is taking it's toll on my overall health..

    So 2 years, and 1.35 Bitcoin later, is it ok to just chill, and spend some cash to maybe go away for a week, and forget about the charts?

    Also, I have this FOMO feeling that I might regret not stacking sats now at current price, as I know Bitcoin will inevitably go up from here..

    Am I overthinking this?

    Anyone else in my situation?

    TIA!!

    Edit: Okay, I really wasn't expecting so many responses, thanks to everyone who responded! Just want to make a few things clear;

    1. I am not depressed, just exhausted, and need a little break..

    2. My stash is locked away in cold storage, as some were saying I should get a hardware wallet..

    3. My debts are not major, and I can easily maintain it..

    4. Lesson learnt, NEVER say how much Bitcoin you have, i've never been spammed in messages like I have the last 10 hours😅..

    5.. Thanks to everyone, especially those that actually attempted, and gave solid advise..

    submitted by /u/TNF05070
    [link] [comments]

    "They (the IMF) are not afraid that criminals will use it; they're afraid that all the rest of us will use it." - Andreas M. Antonopoulis

    Posted: 01 Nov 2021 04:46 AM PDT

    Apple Co-Founder Steve Wozniak | Bitcoin as Gold, Math & Nature VS Governments and Money Printing - Oct 29th 2021

    Posted: 01 Nov 2021 02:01 PM PDT
    Read more
    at

    No comments:

    Post a Comment