Bitcoin ⚡ Lightning Thursday! December 23, 2021: Explore the Lightning Network!⚡ |
- ⚡ Lightning Thursday! December 23, 2021: Explore the Lightning Network!⚡
- Daily Discussion, December 23, 2021
- US concidering cutting off Russia from SWIFT banking system. If this happens, Russia will be forced to find an alternative monetary network. This would be bullish for Bitcoin.
- Pursuit of Happiness
- you own 1BTC
- El Salvador Government Continues Bitcoin Accumulation, Makes New Symbolic Purchase
- Day One of using Bitcoin in El Salvador
- I finally got my ring with the Bitcoin symbol. It has changed my life forever in many ways. Bitcoin is the true revolution and it’s here to stay.
- Average cost to buy BTC hourly on Strike
- Alan Greenspan after the U.S. credit downgrade (2011)
- Regulatory clarity to spur institutional bitcoin investment in Asia
- Michael Saylor Reveals His Personal Bitcoin Holdings To Be Worth Over $800 Million, Sees BTC price going to $6 Million
- Max Keiser Rules !
- The matrix of cryptocurrencies!
- Bitcoin Is An Enduring Bull Market, Says Bloomberg Strategist
- Bitfinex keeps frozen $150,000 since 2019. My loss is over $50,000! Ticket #751709.
- Thoughts on Crypto-Backed Banking? Purchased House with Crypto. Banks are fast adopting!
- LHV Bank of Estonia to Offer Bitcoin Trading to its Clients
- Jack Dorsey is right! Bitcoin will replace the US dollar, and all Shitcoins are centralized, premined scams!
- Those Who Stomach Bitcoin's Volatility Achieve 100%+ Annual Returns (2-minute audio clip from PlanB)
- Taproot and Schnorr Workshop Intro
- Best book to learn about bitcoin for beginners?
- Only invest in Bitcoin the amount you can't afford to lose to inflation
- A few weeks ago I showcased our bitcoin-only content platform Starbackr and received tons of feedback! Now here we are, free of KYC, with support for more wallets and so much more in the pipeline for the next couple of weeks!
- My math says mining might be better than DCA over the next 8 years
- US returns $154 Million in bitcoins stolen by Sony employee
- We're not the same
| ⚡ Lightning Thursday! December 23, 2021: Explore the Lightning Network!⚡ Posted: 22 Dec 2021 10:15 PM PST The lightning network is a second-layer solution on top of the Bitcoin blockchain that enables quick, cheap and scalable Bitcoin payments. Here is the place to discuss and learn more about lightning! Ask your questions about lightning Provide reviews, feedback, comparisons of LN apps, services, websites etc Learn about new LN features, development, apps Link to good quality resources (articles, wikis etc) Resources:
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| Daily Discussion, December 23, 2021 Posted: 22 Dec 2021 09:06 PM PST 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] | ||
| Posted: 23 Dec 2021 05:15 AM PST
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| Posted: 22 Dec 2021 05:38 PM PST Back in mid 2020, i invested a small amount in BTC just to see how it goes. Last month i sold all and cashed out. I got around 400% profit which is so far the biggest return in any of my investment. When the amount came in my bank account and i was able to allocate some for my loved ones for their personal life expenditure, the joy of giving an amount I earned was truly amazing. I don't know how to explain it. Earlier I did give them, but that always used to be borrowed money. I reinvested half of the profit and decided to gift my loved ones almost half of it and kept a tiny bit for me to buy just anything nice i want without a second thought. Felt no regret selling. Felt great when the profit came to my account. Thank you everyone i guess. This is a memorable moment of happiness in my life. EDIT: Thank you for your warm support. Little detail i wish to add. It is not the sum that mattered to me. It was the experience with bitcoin and the whole feeling of passing on the value I received. In terms of amount in EUR. I Invested €100. Money received after selling €560. Hope this clarifies few who asked me the details. [link] [comments] | ||
| Posted: 22 Dec 2021 08:26 PM PST scenario: you own 1BTC and in 20 years bitcoin is unequivocally the global standard store of value. the Earth's population is 9.3 billion. just over 50% of the programmed BTC supply has been lost due to death, keys, etc. and there are roughly 10 million coins left in circulation. so how rich are you? at rock bottom you are but one of at most 10 million people to own at least 1BTC. that alone would put you in the 0.1% of the population. but of course it's a much, much smaller pool than that given the bags of countries and institutions and whales galore along with the hoards of people who only own satoshi's. so just how exclusive is your wealth with a single BTC in 2042? lay out your best estimate. [link] [comments] | ||
| El Salvador Government Continues Bitcoin Accumulation, Makes New Symbolic Purchase Posted: 23 Dec 2021 05:19 AM PST
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| Day One of using Bitcoin in El Salvador Posted: 22 Dec 2021 08:13 PM PST I had just arrived here near the beaches of El Salvador after mustering up the courage to travel to one of the "most dangerous" countries in the world. It's been a few days so far and I feel pretty much safe walking alone during the daytime as a tourist with limited Spanish speaking skills. This morning, I visited El Zonte to see how easy it was to transact using Bitcoin from my lightning wallet and let me tell you; it was difficult. Most shops advertise "Bitcoin accepted here", "Strike accepted here" and other shops display a QR code with the BitcoinBeach logo in the middle that when scanned, directs you to the BitcoinBeach invoice setup webpage. I asked one of the vendors if I could pay in Bitcoin using a lightning wallet for a bottle of water and the vendor advised me to just scan the QR code to pay. Which I did only to see an alert message stating "Not a proper lightning payment request", some error stating that it needs a set amount of sats for the transaction to process, or "this is not a BTC address or a lightning invoice". I don't remember which error message popped up as I grew frustrated trying to figure it out using the Muun wallet and the BlueWallet (they both theoretically do work). I then gave up and bought the bottle of water with cash. The next vendor noticed that I was having issues with trying to pay using either of my wallets and said that I should use the BitcoinBeach wallet, however the BitcoinBeach wallet is only available to those who live in El Salvador or to those who have their Google account/ Apple account registered under El Salvador, not for tourists like myself. Strike was also out of the picture as I was having issues trying to register my number and my personal information. Which only leaves with my Muun wallet and my BlueWallet for lightning transactions. So I gave up and went about my day while brainstorming for solutions. Later that day I came across a small restaurant near where I'm staying at that also accepts Bitcoin. I asked the server how would she receive payment before ordering my food as to not waste either of our time and she showed me her own personal Bitcoin wallet. The problem with this one however was the fact that it was a bitcoin public address and not the lightning address. I went with it anyway as I was hungry for some grilled chicken and payed for the meal with bitcoin + the miner fee ($0.61!). I headed back to my rental to conduct some more research on the different wallets and the experiences other people have had while trying to use bitcoin as a tourist in El Zonte. It turns out that a youtuber named 'Marc Falzon' had a very similar experience to mine in his video titled, 'Surviving 72 Hours on Bitcoin at the Bitcoin Beach'. However, at around 33:40, he was told that he should be able to just scan the QR code and proceed from there but I believe this process requires not just one smartphone but 2 smartphones. One acting as a POS terminal while the customer's smartphone would scan the invoice after the invoice amount has been set on the POS terminal. So tomorrow I plan to head back to El Zonte and ask the vendors if they could assist me in this different approach (maybe ask for their phone or maybe I'll use 2 of my smartphones). I don't think they'll be too comfortable with this idea but it makes sense. Why would the customer setup the invoice amount when it should be the vendor who handles the pricing of their goods? [link] [comments] | ||
| Posted: 22 Dec 2021 07:49 AM PST
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| Average cost to buy BTC hourly on Strike Posted: 23 Dec 2021 12:18 AM PST There was a post today showing a notifications list of $2.50 hourly buys on Strike. The comments were flooded with people screaming about how OP was getting screwed on fees (there are none buying on Strike), or if they had more than two braincells assuming that OP was getting screwed on the spread. I've also been buying hourly on Strike, though for quite a bit less than the other guy. I have had $0.50 hourly buys going since Dec 10th, and yesterday I upped it to $0.60. I have been monitoring the buys and comparing the price I paid to the current spot price and found it's usually $50 to $100 higher (~0.1-0.2%). But that's just me randomly checking it, not real data, so today I bring you some real data. I took the high/low data from the minute chart on Binance and calculated the hit I took on the spread. As you can see the average "fee" I paid is 0.12%. There was one buy where the cost was much higher than the others (5:34 AM), but for the most part it's pretty consistent. The data is a bit imperfect since Binance is probably not the source that Strike uses to buy your BTC, but I think it's safe to say it's close enough. Personally I really like the hourly recurring buys. It takes the guesswork out of trying to time your buy on a dip, or getting FOMO when it is pumping. You really do get a true average. Don't @ me about recordkeeping either. It's really not a big deal. If you can't handle it then don't do it, but don't assume everyone else is as dumb as you. Edit: Also withdrawals are free. [link] [comments] | ||
| Alan Greenspan after the U.S. credit downgrade (2011) Posted: 22 Dec 2021 10:44 AM PST
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| Regulatory clarity to spur institutional bitcoin investment in Asia Posted: 23 Dec 2021 08:25 AM PST
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| Posted: 22 Dec 2021 01:11 PM PST
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| Posted: 23 Dec 2021 02:24 AM PST
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| The matrix of cryptocurrencies! Posted: 23 Dec 2021 04:23 AM PST
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| Bitcoin Is An Enduring Bull Market, Says Bloomberg Strategist Posted: 22 Dec 2021 10:11 PM PST
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| Bitfinex keeps frozen $150,000 since 2019. My loss is over $50,000! Ticket #751709. Posted: 22 Dec 2021 06:30 AM PST Bitfinex is removing all information regarding its awful customer service from its Reddit group and blocking users who try to write about the problems with payout of funds from the Bitfinex accounts. It is the common problem and we have to inform everyone about it. Moreover, if I ever knew about Bitfinex massively blocks their clients funds or conducting "checks" within months, I would never, never, never register on it to use their services. My story is ordinary, read it, at least you be prepared for what awaits you when you working with Bitfinex. I have a small company with my partners and in the 2017 we decided to invest some money in bitcoin. In February 2018 we registered an account on the Bitfinex exchange , it was fully verified up to the maximum level. All the funds were deposited from our own cold wallet and all transactions fully confirmed. In 2019, due to internal corporate reasons we decided to block the account and all outcoming\incoming transactions of it with balance just over $15,000. So, we directly asked the exchange to execute it and, actually, the account was blocked immediately. August 15, 2021, when the account funds were valued at $200,000 due to increase in bitcoin exchange rate, we asked to unblock the account and provide us with access to deposit to withdraw our funds. Then the endless journey of "go there - do not know where, bring it, I do not know what" has begun. Chronology of events in 2021:
What was the result? In the end all notarized documents were sent, including their notarized translation - just over 10 pages of the very documents that Bitfinex support itself requested. Even if you check 3 pages a month, for the past 3.5 months you could have checked them all. But that's not the goal folks. It's much more complicated than that. The account value during this time has decreased from $200,000 to $150,000, the margin positions were open and are still open and chargeable with all the period, because it is impossible to close it. My direct losses amounted to $50,000, hours of consulting with lawyers and billions of nerve cells. Bitfinex has made my life a living hell these three months! Imagine how it feels when you look at your deposit and it decreases by 25% and you can't do anything, not only withdraw, but even convert to USDT not to lose your money. And your support employee answers you every two weeks for months - wait, due diligence in progress and there are no any exact term when it will be completed. I am definitely not against due legal checks and moreover, I believe that all of them are absolutely necessary in any business. But in the case of Bitfinex we are not talking about document checking, we are talking about trivial abuse of rights and direct damage to their clients. How can the legal procedures be timeless? How can your due diligence be endless? How can it be that you first receives our money and then start checking of the client ? When we open an account at the bank, we first go through verification, open an account and only after that bank gets the money to the account. Bitfinex is doing exactly the opposite. There are hundreds of situations like ours, they block accounts under any claim. If there are any funds on them the exchange starts the procedure of legal verification, which according to them is not limited in time. It is not only unfair, immoral, but also illegal. Their meaning is that if you have an account with aprx. $100,000, so you have to spend even more money if you claim them in the British Virgin Islands (Bitfinex jurisdiction) court. This is partly true, because lawyers in such matters and in that jurisdiction are very expensive. At the same time, those clients' funds are a source of enormous liquidity for Bitfinex, which uses client funds at its own will, because if my funds are effectively frozen - no one will charge me interest on the use of my money. From the other side, Bitfinex quiet easy lends money to another client at a huge interest rate, because the exchange has no "liquidity" problems. Nice "business", right? The fact that user funds are blocking "en masse" without any regulations and held indefinitely is not acceptable. I ask to help our community as much as possible in spreading this topic, my Bitfinex Ticket number is 751709, all the given information I can confirm with screenshots or in any other legal way. All of you who suffered in the same way, mates, please, write in the comments, let's unite our efforts. I will keep you informed about this situation, thank you for spending your time and reading the post to the end. To bitfinex: 3,5 month is too enough time for your legal check, if you need any documents more, just ask, we send it immediately. I need my money back. Please.. 🔴 Update 1 (23.01.2021) yesterday write to the Bitfinex support, when due diligence will be finished. No RESPONSE. [link] [comments] | ||
| Thoughts on Crypto-Backed Banking? Purchased House with Crypto. Banks are fast adopting! Posted: 23 Dec 2021 06:51 AM PST Hi all, Thought it was an awesome thing to share [link] [comments] | ||
| LHV Bank of Estonia to Offer Bitcoin Trading to its Clients Posted: 23 Dec 2021 05:15 AM PST
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| Posted: 22 Dec 2021 07:20 PM PST
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| Those Who Stomach Bitcoin's Volatility Achieve 100%+ Annual Returns (2-minute audio clip from PlanB) Posted: 23 Dec 2021 04:40 AM PST
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| Taproot and Schnorr Workshop Intro Posted: 23 Dec 2021 07:57 AM PST
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| Best book to learn about bitcoin for beginners? Posted: 23 Dec 2021 04:33 AM PST | ||
| Only invest in Bitcoin the amount you can't afford to lose to inflation Posted: 22 Dec 2021 03:22 PM PST | ||
| Posted: 23 Dec 2021 02:25 AM PST
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| My math says mining might be better than DCA over the next 8 years Posted: 22 Dec 2021 04:09 PM PST When people ask about mining, I usually see the advice that "just buying BTC is better unless you have a big operation.." I decided to math it up a bit. Now, the big unknowns are BTC price and changes in hashrate/difficulty. I also may have missed something else. Open to criticism here. But, my napkin spreadsheet math tells me mining is significantly better. I chose to use an 8-year time period to compare. My math had mining earning about half a bitcoin while DCA was closer to a third of a coin. https://docs.google.com/spreadsheets/d/1U-j6JNRNcNEeXS-vHKTMhDqQTtJOpQa68V6JU4zrXgM/edit?usp=sharing Here are some assumptions I used:
I used this site to calc current rewards: https://www.cryptocompare.com/mining/calculator/btc?HashingPower=104&HashingUnit=TH%2Fs&PowerConsumption=3068&CostPerkWh=0.077&MiningPoolFee=1 Someone check my math. Dealing with a miner might be a pain, and the one major risk might be if your miner quits working. But, otherwise, mining seems like a great move. Am I missing something? EDIT: Thanks for the input. INCOME TAXES. I didn't know you owed income taxes on mined coins even before you sell. Ugh. That changes things. [link] [comments] | ||
| US returns $154 Million in bitcoins stolen by Sony employee Posted: 23 Dec 2021 08:05 AM PST
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| Posted: 23 Dec 2021 03:22 AM PST
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