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    Monday, December 13, 2021

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

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


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

    Posted: 12 Dec 2021 10:16 PM PST

    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, December 13, 2021

    Posted: 12 Dec 2021 09:07 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.

    submitted by /u/rBitcoinMod
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    90% of the 21,000,000 BTC have now been mined. Current annual inflation of 1.88%, and programmatically declining for the next 119 years. Absolute scarcity.

    Posted: 13 Dec 2021 01:54 AM PST

    Bitcoin Touches New Milestone With 90% of Total Supply Mined

    Posted: 12 Dec 2021 11:17 PM PST

    Your son is broken

    Posted: 13 Dec 2021 03:40 AM PST

    So the US is scared of El Salvador and Bitcoin

    Posted: 12 Dec 2021 05:46 PM PST

    The US has taken action on El Salvador about adopting bitcoin but also about our political decisions.

    In our country they have been openly asking for us to go back to the previous political administration that we had and to go back in our steps to restore the previous system we had, they want back the politicians that they used to control with money in our country. Like the US has been controlling our country and doing whatever they wanted since the civil war we had in the 70's when they influenced the government or even before in the 50's when they used to slave us and control the fruit exports from us and also started to control the corruption. That is a historic fact that everybody knows here in El Salvador and and a practice that they kept until the current government and they are still thinking that they can keep doing it, but we are a different society now.

    It was revealed that the US tried to buy Salvadorian politicians recently and today we had a new protest with US flags everywhere (they don't even hide it anymore). The politicians who had accepted money from the US in exchange for decision power are being processed by our laws and El Salvador just opened a new media channel to fight agains all the fake news that come from Washington DC, for now one of the first El Salvador news in English is this:

    El Salvador news English

    Edit: I also forgot to mention that they removed the ambassador and the "foreign" businesses delegate that they had in our country saying that our relation is "complicated" now and tried to put fear in the population making them think that the US is now against us. But the people now sees their government like the interventionists that they've always been, we are in peace with their people because a lot of their citizens are also our family but we're disliking their government.

    submitted by /u/migu3333l
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    Spend $5K to attend the upcoming Bitcoin 2022 conference in Miami? Or, invest the $5K in Bitcoin? What would Saylor say?

    Posted: 12 Dec 2021 03:07 PM PST

    Dilemma, dilemma. Just ran the numbers and my all in cost to attend the upcoming bitcoin conference in Miami would be about $5000. I've got the money, and I would like to attend. But then again, picking up some more sats would be nice too. Thoughts?

    EDIT: What an overwhelming response. And, in going through all of the comments (which I did and appreciate) - the consensus is: Buy the BTC. Which I will do. It was good to hear all feedback both positive and negative about the 'value' of the conference…thanks to all.

    submitted by /u/davidpmicklock
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    Finally moved my Bitcoin to a cold wallet. Feels good to get my coins off exchange!

    Posted: 12 Dec 2021 06:32 PM PST

    I think the most common phrase on this sub, or any related sub, is "not your keys, not your coin."

    I can now finally drop that phrase myself lol.

    Took me awhile as I wanted to collect yield. But with ever increasing knowledge of the Bitcoin rabbit-hole, I increasingly become more paranoid of losing my savings to a exchange.

    Anyways, made two $1 transfers to test. Then boom, transferred the rest. Pretty easy. Now to figure out a safe and protective way to store my passphrase and Im done.

    Remember… NOT YOUR KEYS NOT YOUR COIN. Haha.

    submitted by /u/thadiusb
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    Government: "Bitcoin is working! Quick, make it racist!"

    Posted: 12 Dec 2021 12:03 PM PST

    PSA: Strike now allows recurring bitcoin buys, including hourly—yes HOURLY.

    Posted: 12 Dec 2021 09:23 PM PST

    Bisq 1.8.0 is out! It includes atomic swaps.

    Posted: 13 Dec 2021 02:57 AM PST

    I really wish people wouldn't try to politicise Bitcoin so much

    Posted: 13 Dec 2021 05:30 AM PST

    I know this sounds ridiculous because of course it's political, but I genuinely don't see Bitcoin as entirely incompatible with any political ideology, yet libertarians seem intent on taking ownership of it and making out like their idealised version of society would be the natural consequence of Bitcoin's success.

    In the current highly polarised climate, the easiest way to damage an idea's chances of becoming universally accepted is to associate it with one political ideology, especially a radical one.

    Earlier this year I put together a list on Twitter of prominent Bitcoiners who post interesting and informative content on the subject, which is useful to check up on every day, but I really wish this stuff wasn't interspersed with the most dogshit political takes imaginable.

    I accept that everyone is welcome to their political views and opinions and aren't obligated to keep them quiet even if Bitcoin is the main thing they talk about. What frustrates me is the forced association of Bitocin with specific outcomes. For example, "Covid is bullshit and any measures by governments to contain the fake pandemic are draconian and fascist, Bitcoin fixes this" - I'm sure this is a view you've probably come across in some incarnation if you follow CT. Whether any Bitcoiner believes this or not, surely they can see it's a fucking own goal.

    Particularly annoyed me when I linked a friend to a Twitter account as a good resource for Bitcoin information and that account went on to mock covid and post all this anti-vaxx shit. The friend has lost family to the disease so yeah, embarrassing af.

    Rant over I guess.

    submitted by /u/royalewithcheesecake
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    Wouldn't the price of BTC keep falling if whales buy via OTC and dump them in the exchange?

    Posted: 12 Dec 2021 11:38 PM PST

    We are seeing a price drop despite of lower supply in exchanges reserve. What if:

    1. Whales buy BTC via OTC leaving the price unaffected.
    2. Whales transfer BTC to exchanges then dump them.
    3. Whales profit from short in futures.
    4. Rinse and repeat.

    If whales do the above, wouldn't the price of BTC keep falling like no tomorrow? Isn't OTC purchase of BTC decoupling price with the supply?

    submitted by /u/nukedcola
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    Yesterday someone bought a coffee using Lightning NFC socks

    Posted: 13 Dec 2021 01:28 AM PST

    Pilotprojekt wird vorbereitet: Sparkassen planen Bitcoin-Handel (in the works: German Sparkasse planning Bitcoin trading)

    Posted: 13 Dec 2021 02:44 AM PST

    Food is cheaper than it has ever been. 0.00006 BTC for a gallon of milk.

    Posted: 12 Dec 2021 03:37 PM PST

    poor fiat holders arent' doing so great

    Food prices have only gone down every year when priced in Bitcoin. When will people learn earn in dollars, save in Bitcoin

    submitted by /u/hyperinflationUSA
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    Paraguay Considers Adopting Bitcoin as Tender | PYMNTS.com

    Posted: 12 Dec 2021 11:07 AM PST

    What to Read now that you understand Bitcoin

    Posted: 13 Dec 2021 03:38 AM PST

    Now that you understand how Bitcoin works you are ready to see how the world works. Sadly, why Bitcoin has an uphill battle.

    1. Thomas Sowell - read (not just watch short clips of) ANY book by Sowell. It does NOT matter which. The most economic one is probably "Basic Economics" but it may be a bit dry for some (I loved it). So start with anything else that has fewer pages. If you read nothing else read "Intellectuals and Society".
    2. Milton Friedman - I recommend the videos with "free to choose network" on YouTube. This is not an anti-gov post, but "Why Government Is the Problem" booklet is really good at summarizing some main issues with government trying to "help" people.
    3. The Law by Bastiat - if you want to understand what gov should do and what it shouldn't. Argument is very elegant and simple here but requires careful reading as the examples used are from the past.
    4. Darwin On the Origin of Species. This is a super long and hard read. But it will explain how society values some people and not others and why "fairness" has nothing to do with how rich some people are.

    Please post your suggestions.

    submitted by /u/Awkward_Jury_7698
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    Bittrex fraud

    Posted: 12 Dec 2021 11:19 PM PST

    Bittrex has been holding my funds hostage for EIGHT months. The Velas wallet is permanently broken!

    My support case is 2207214. Do not use this exchange!

    I have filed complaints with the FTC and Consumer Protection Bureau. Today I am contacting the FBI's fraud division.

    You suck Bittrex!!!

    submitted by /u/BitcoinBiskit
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    About Bitcoin

    Posted: 13 Dec 2021 06:07 AM PST

    About Bitcoin

    "The sell-off was accompanied by flows of bitcoin onto exchanges as indicated by the following graph. However, this trend quickly reversed and the data now shows that bitcoins are being removed off exchanges, most likely for long-term holding。"

    https://preview.redd.it/ubg13b9ahb581.jpg?width=1119&format=pjpg&auto=webp&s=33d5609fbf18466801bcc2f95968501dcd41f210

    submitted by /u/susanyioraw
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    As of December 12th 2021, 90% of all Bitcoins have been issued. Only 10% have yet to be mined.

    Posted: 12 Dec 2021 09:29 AM PST

    Stats according to bitbo.io

    submitted by /u/DumpsterGravy
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    Why isn’t there more discussion about Bitcoin price manipulation?

    Posted: 12 Dec 2021 09:09 PM PST

    I think we can all agree BTC price is constantly manipulated down. Casual observation to me suggest usually this happens around attempts to break upwards of 2-5% above market cap. But I always hear it brushed off in forums and by the various faces on YouTube as "whale games". I'm not ok with that. I would like to see a better effort to document, analyze and expose this manipulation. At the one end, it could really just be "whale games" but there is a part of me that refuses to rule out nation state and intelligence community lead sabotage. Economic Hitman style.

    Has anyone actually provided a credible look into this that I could take a look at?

    submitted by /u/pinshot1
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    Beware of these convincing hack/phishing attempts!!!

    Posted: 12 Dec 2021 10:15 PM PST

    Why is the difficulty adjustment not a ‘rolling’ 2016 blocks?

    Posted: 13 Dec 2021 03:48 AM PST

    As per the title; Why is the difficulty adjustment not based on a 'rolling 2016 blocks' ?

    submitted by /u/mpstr1nger
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