Crypto 360°: 2019-06-23

Saturday, 29 June 2019

“The connection between money and encryption was clear in the past, and has become clear again now”

submitted by /u/finalhedge
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Hang in there

submitted by /u/gitzofoxo
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Stumbled upon an exposition I did on Bitcoin back in Middle School! If only the description had aged better...

submitted by /u/kentjhall
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source https://www.reddit.com/r/btc/comments/c6se1z/stumbled_upon_an_exposition_i_did_on_bitcoin_back/

SUCCESS Chili & me educated 12x new BCH food merchants in 4 days...

submitted by /u/bitcoinmapDOTcash
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source https://www.reddit.com/r/btc/comments/c6s7ij/success_chili_me_educated_12x_new_bch_food/

Craig Wright Can’t Access Early Bitcoin Addresses This article was originally posted on ETHNews - an emerging provider of Ethereum and Blockchain news. They cover breaking news, announcements, information, and in-depth analyses [...]

<h1>Craig Wright Can’t Access Early Bitcoin Addresses</h1>

This article was originally posted on ETHNews - an emerging provider of Ethereum and Blockchain news. They cover breaking news, announcements, information, and in-depth analyses [...]

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Satoshi Comparisons Surface After Grin Founder Exits in Similar Circumstances This article was originally posted on Bitcoin News - delivering news related to the Bitcoin network from multiple locations around the world. For more follow [...]

This article was originally posted on Bitcoin News - delivering news related to the Bitcoin network from multiple locations around the world. For more follow [...]

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Gemini Eyes Chicago Expansion Following Coinbase’s Windy City Exit This article was originally posted on ETHNews - an emerging provider of Ethereum and Blockchain news. They cover breaking news, announcements, information, and in-depth analyses [...]

<h1>Gemini Eyes Chicago Expansion Following Coinbase’s Windy City Exit</h1>

Iranian Authorities Crack Down On Bitcoin Mining Machines This article was originally posted on ETHNews - an emerging provider of Ethereum and Blockchain news. They cover breaking news, announcements, information, and in-depth analyses [...]

<h1>Iranian Authorities Crack Down On Bitcoin Mining Machines</h1>

How Blockstream Helps Some Get Back To Bitcoin’s Roots This article was originally posted on ETHNews - an emerging provider of Ethereum and Blockchain news. They cover breaking news, announcements, information, and in-depth analyses [...]

<h1>How Blockstream Helps Some Get Back To Bitcoin’s Roots</h1>

What an initiation

submitted by /u/Vad23789
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When you bought at 18k and been hodling ever since and someone is sad after buying at 13k.

submitted by /u/NeuronFlux
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I be like

submitted by /u/KaoVtizo945
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BTC vs 12k today ( Cat version )

submitted by /u/Sistermoon999
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Bitcoin Cash Developer at BTC Conference: Lackluster, Shallow Rehash of Same Topics - CoinSpice

submitted by /u/afriendofsatoshi
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source https://www.reddit.com/r/btc/comments/c6s04k/bitcoin_cash_developer_at_btc_conference/

Crypto Caribbean Resort

I’m playing with the idea of developing a resort in the Caribbean that only accepts crypto. The property I’m looking at is in the jungle. Individual cabanas with personal infinity pools, would be the suits. I think I would like a main lodge with conference rooms and etc. I just am looking for feedback as to what the crypto world would want in a resort. I believe we need to start implementing business that run purely on crypto. Any thoughts or ideas would be welcome.

submitted by /u/PuertoRico51st
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source https://www.reddit.com/r/btc/comments/c6rdp9/crypto_caribbean_resort/

Two Former Dream Market Vendors Identified due to Using Online Postage Services This article was originally posted on The Merkel - with a dedicated cryptocurrency news section and also a variety of educational articles relating to Bitcoin, [...]

This article was originally posted on The Merkel - with a dedicated cryptocurrency news section and also a variety of educational articles relating to Bitcoin, [...]

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Crypto Apps Stagnate Despite Bitcoin (BTC) Rally Past $10,000 This article was originally posted on Ethereum World News - an independent news provider covereing Ethereum, Bitcoin, Ripple, Litecoin dApps, start-off ICO’s and the whole Blockchain [...]

This article was originally posted on Ethereum World News - an independent news provider covereing Ethereum, Bitcoin, Ripple, Litecoin dApps, start-off ICO’s and the whole Blockchain [...]

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3 key Factors Dictating the Future of Bitcoin ATMs This article was originally posted on The Merkel - with a dedicated cryptocurrency news section and also a variety of educational articles relating to Bitcoin, [...]

Bitcoin Lightning Network Hits $11M Capacity; Updates This article was originally posted on Bitcoinist - one of the leading sources for information about Bitcoin, digital currency and blockchain technology. With one of [...]

This article was originally posted on Bitcoinist - one of the leading sources for information about Bitcoin, digital currency and blockchain technology. With one of [...]

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Bitcoin Price Volatility Is Nothing To Be Scared Of This article was originally posted on Bitcoinist - one of the leading sources for information about Bitcoin, digital currency and blockchain technology. With one of [...]

Self-proclaimed bitcoin inventor Craig Wright reportedly cried in court during cross-examination in the $10 billion crypto lawsuit

submitted by /u/leadfoot19
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Vancouver Police Accused of Stealing Bitcoin from convicted drug dealer AFTER they were ordered to return the convicts computer

submitted by /u/Bepositive-stupid
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Bought 2 bitcoin today, up until now I was checking the price every 10 minutes over the past 2 weeks. Since I bought I’ve not checked once!! I guess by instinct I’m going to hodl big time. Long term baby.

I’ve posted here twice before asking newbie questions and have to say I got phenomenal feedback from the community, it kept me busy reading and delving into crypto. Got my ledger (trezor model T) and opened an account on Bitstamp. Took a wee while to adjust and watch all the relevant tutorial videos on how to read and understand what was in front of me. Now it’s somewhat simplified I’m sitting content with my 2 bitcoin and waiting hopefully for the bull run and then the halving in May next year that’ll hopefully take us to the moon. Not looking to buy a lambo - I want a fucking bugatti guys :)

Just want to give thanks to the brothers and sisters of this sub.

P.S if it dips to the worst previous lows I couldn’t really give a shit - it’ll bounce back.

submitted by /u/MilkManMikey
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Friday, 28 June 2019

Vitalik Buterin’s Father On Introducing His Son To Decentralized Cash This article was originally posted on ETHNews - an emerging provider of Ethereum and Blockchain news. They cover breaking news, announcements, information, and in-depth analyses [...]

<h1>Vitalik Buterin’s Father On Introducing His Son To Decentralized Cash</h1>

Enjoy this bull run fellow HODL’rs, but don’t forget why we bitcoin! Save Humanity!

submitted by /u/LostInDaSauce1
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/r/Bitcoin for 8 years: Don't time the market - Invest weekly with dollar cost averaging. Everyone else: "I jumped in when it was going parabolic". Bitcoin stops going parabolic: Surprised Pikachu

submitted by /u/GabeNewell_
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You can buy over 1M USDT for at or under 98 cents on the tether right now at Kraken.

Any takers?

submitted by /u/newhampshire22
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source https://www.reddit.com/r/btc/comments/c6ewx3/you_can_buy_over_1m_usdt_for_at_or_under_98_cents/

Let me tell you a tale about Ecuador, that abused its currency so much the people completely rejected it and adopted a new currency. States can mismanage their currency so badly that the people adopt a completely different currency.

Have you heard the tale of Darth Ecuador the Wise... err, let me tell you about the awesome people of Ecuador, and the tragedy of the Ecuadorian Sucre.

After years of central-bank mismanagement during the 20th century leading up to 80% inflation in 2000, the Ecuadorian government did perhaps the smartest thing it could possible do at that time, it gave up and adopted the US dollar as its official currency.

Here's the tale in long form if you are interested:

https://www.wsws.org/en/articles/2000/01/ecua-j13.html

A record of their currency changes:

https://en.wikipedia.org/wiki/Currency_of_Ecuador#2000_Dollarization

http://www.coha.org/examining-the-effects-of-dollarization-on-ecuador/

And the tale told briefly by someone from Ecuador:

https://www.life-in-ecuador.com/ecuador-currency.html

Since then, the US dollar has been the official currency of Ecuador. And just like that, no more crazy inflation disturbing the economy and hurting the poor most of all.

However, the US government still inflates the dollar, but it does so at a fairly even and controlled rate compared to many places in the world. So moving to the dollar was still a positive improvement for Ecuador's people.

The US shoots for a 2% inflation target. But since the natural rate would be about 3% deflation, in actuality the US is inflating somewhere around 5% a year in order to hit that 2% target.

You can't make a political issue over such small amounts of inflation because people simply don't understand it, not until it reaches hyperinflation levels such as Ecuador and other places experienced, and such as Venezuela is going through now, and places like Argentina have suffered in the past.

Bitcoin cash too is short-term inflationary but unlike fiat currencies such as the dollar, BCH is long-term deflationary and has a hard cap on the number that can ever exist: 21 million BCH. BCH is currently inflating at a rate of about 4%, so not much better than the US dollar, but that will change soon.

Next summer that rate will halve yet again during the 2020 Halvening event, and hit 2%, then four years later it will hit 1%, and only go down from there every four years. This will begin to significantly outperform all world currencies when it comes to inflation schedule.

Since BTC doesn't want to be a payments system and has conceded that position to BCH and others, BTC won't get used. Nor likely will BTC+Lightning get used as it is a usability nightmare unless you want to trust a 3rd party to do everything for you, not to mention the high cost of opening Lightning channels in both time and money.

Ethereum, the current #2, isn't designed to be a currency at all, and thus won't likely be used. Nor Ripple, which frankly isn't even a cryptocurrency and doesn't deserve to even be considered on the rankings.

We will also see the price of BCH grow in response to this new scarcity, necessarily. Every halvening thus far has resulted in tremendous price growth afterwards.

But I just wanted to highlight the experience of Ecuador, to show that states can mismanage their currency so badly that the people accept and adopt a completely different currency.

It can happen, it has happened before, and it can happen again. And when it happens again, cryptocurrency will be the next natural currency to move to rather than the dollar.

submitted by /u/Anenome5
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source https://www.reddit.com/r/btc/comments/c6cfbf/let_me_tell_you_a_tale_about_ecuador_that_abused/

December 8-10, 2017 = 28% drop. It went to $19.5k 6 days later. HODL and chill.

submitted by /u/CoinalSanders
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Fidelity's Cryptocurrency entrance to the market is almost ready. Their site is entertaining customers to contact them. bonus point check out their glossary of crypto terms. Check their wiki, they manage $2.6 trillion in assets. BTC marketcap just $250~billion

submitted by /u/Basilfasilhazel
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I am closing my account at (coinbase)Coinbufuked and I’m walking going to Kraken lower fees better customer service etc. I’m done.

submitted by /u/Gobitcoin2018
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MRW I sold on the spike and re-bought on the dip

submitted by /u/FJLyons
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Daily Discussion, June 27, 2019

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.

We have a couple chat rooms now!

Please check the previous discussion thread for unanswered questions.

submitted by /u/rBitcoinMod
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How to Keep Bitcoin Cash Transactions Private Notice: Undefined offset: 1 in /home/content/a2pewpnaspod04_data01/03/4090703/html/wp-content/plugins/rss-image-feed/class-lib/A5_ImageClass.php on line 429 This article was originally posted on Bitcoin News - delivering news related to the Bitcoin network from multiple locations around the world. For more follow [...]

Notice: Undefined offset: 1 in /home/content/a2pewpnaspod04_data01/03/4090703/html/wp-content/plugins/rss-image-feed/class-lib/A5_ImageClass.php on line 429

Craig Wright Intends to Call Three Expert Witnesses to His Evidentiary Hearing This article was originally posted on Bitcoin News - delivering news related to the Bitcoin network from multiple locations around the world. For more follow [...]

Market Outlook: After Crypto Prices Tumble, Observers Weigh in on What’s Next This article was originally posted on Bitcoin News - delivering news related to the Bitcoin network from multiple locations around the world. For more follow [...]

Over 22,000 Traders Have Now Signed up to Local.Bitcoin.com This article was originally posted on Bitcoin News - delivering news related to the Bitcoin network from multiple locations around the world. For more follow [...]

Iranians Defy Warning and Share Pictures of Bitcoin Mining in Mosque This article was originally posted on Bitcoin News - delivering news related to the Bitcoin network from multiple locations around the world. For more follow [...]

Hey everyone! There's a user that recently signed up to tipbitcoin.cash that's completely new to cryptocurrency. Let's go show her the beauty of p2p electronic cash! :)

submitted by /u/_pokkst
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source https://www.reddit.com/r/btc/comments/c6c0v3/hey_everyone_theres_a_user_that_recently_signed/

Satoshi’s Snack Machine Example

Snack Machine Example

If i’m understanding this right, then the Replace By Fee function in Bitcoin undoes the tx propagation safeguard against an unconfirmed tx double spend attempt, right?

Can anyone illuminate this for me?

submitted by /u/InMyDayTVwasBooks
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source https://www.reddit.com/r/btc/comments/c6cbad/satoshis_snack_machine_example/

When you buy at the top

submitted by /u/mortybrown
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Edward Snowden - Bitcoin Conference 2019

submitted by /u/Garland_Key
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Reminder: Capital Gains tax rate is 0% if you never sell

Also, if you panic sell and buy right back in you just made yourself lose money on the taxes, so don’t do that.

submitted by /u/ieee802
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Thursday, 27 June 2019

MRW I'm finally in the green with Bitcoin and my friends are telling me to sell

submitted by /u/SandwichOfEarl
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Why saving your fortune in precious metals is a bad idea: "The golden asteroid worth $700 quintillion that could make everyone on Earth a billionaire" --- I guarantee there isn't some asteroid with billions worth of bitcoin cash floating around waiting to be found :P

submitted by /u/Anenome5
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source https://www.reddit.com/r/btc/comments/c5zas0/why_saving_your_fortune_in_precious_metals_is_a/

I call this the 'REKT Wall'

https://i.redd.it/6z5f7qegmt631.jpg

submitted by /u/tripleclutch
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source https://www.reddit.com/r/btc/comments/c60ll1/i_call_this_the_rekt_wall/

Do Not Sell !!

I realize people left and right are getting excited about the price going vertical and I get it, however this is not the time to sell. Even if we dip back into that 11K range or sky rocket past 20K. Let me start of by saying I have traded in the stock market for 30 years and been in crypto since bitcoin was under a $1.00. I bought a bag of weed for 136 bitcoins ...

The main reason is Fiat is worthless. America is 22 trillion in debt. Just let that sink in for a moment. 22 fucking trillion dollars. How are they going to get out of that debt which is one of 2 ways. A default on the debt or print so much money it's worthless (trust me they are going to print it into obscurity). I keep seeing posts about 2-3% inflation over the last decade and this is so wrong due to what they classify what goes into inflation. It's really 6-7% and all you have to do is check your water bill, energy bill, housing, and or groceries.

Next we have what I call the other big three of the Euro, Yaun and Yen. Japan is 13 trillion in debt and 200% over GDP with a aging population. The Yuan is the strongest of the group, however how much is tied up in failed government backed housing, subsidies, banking on and on. Also if the dollar keeps printing then the yuan is going down big time with it. Lastly is the Euro with failed countries like Greece, Italy, and Spain. Actually the shinning beacon of the Euro is Germany who might opt out completely. In the next 5-10 years we might have multiple fiat currencies fail and if they do you want to be in crypto, real estate and or precious metals.

This is another start of a Bull run.. This rally is not being done by retail and instead this is institutions coming in and millionaire/billionaire crowd with deep pockets. Over the last 2 years this has really changed from retail crowd only to everyone wants 5-10% of their portfolio into crypto to spread out. The huge buy orders are institutions and smart money allocating a small percentage of their portfolio over different investment landscapes. This money is just going to increase HEAVY over the next few months. After the bigger guys are in you will start seeing the retail people chasing again on the FOMO.

Then lets talk about the scarcity of bitcoin. There is not 17,781,000 bitcoins available. Millions have been lost due to wrong passwords, failed hard drives, darknet websites, and even mining fees that were not collected properly. Over the last 30 months when we had the rise from 600 to 20K we have only seen 6.2 million bitcoins in wallets that have been active over that time frame. The real amount of bitcoins that can be accessed I believe to be more in the lines of 10-11 million. I really would not doubt 6-7 million bitcoins are completely lost for ever. Look at the Satoshi 750K that has never moved ( I am convinced it is the deceased Hal Finney)

This rally is completely different from the ones in the past. I can't put my finger on it, but it's different. In another post people are not talking about it like 2017 ( family members / coworkers asking me questions ect) All in all why trade a scare bitcoin for some fiat that is worthless.

Upvote if you agree

If you don't believe me check out other posts

https://www.reddit.com/r/Bitcoin/comments/6zshlu/time_to_buy/

Dip in late July 2016 post is on Bitcointalk

Dip from 1150 to 775 in January off the China bans bitcoin https://www.reddit.com/r/Bitcoin/comments/5ncue0/perfect_time_to_buy_bitcoin/

Dip from 1300 to 950 off the ETF https://www.reddit.com/r/Bitcoin/comments/5ycmci/about_time_to_buy_more/

Dip 2100 to 1700 https://www.reddit.com/r/Bitcoin/comments/6avtaq/sell_at_all_costs/

Dip from 2900 to 1800 https://www.reddit.com/r/Bitcoin/comments/6dj5kf/for_all_the_people_getting_burned_right_now_let/

Dip from 4400 to 3600 https://www.reddit.com/r/Bitcoin/comments/6v8z7q/sell_now_the_end_is_near/

submitted by /u/ridenourt
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