![Ben Mezrich, author of 'Bitcoin Billionaires' reveals which early Bitcoiners [which characters] will be in the upcoming Bitcoin Billionaires movie | Podcast Clip](https://b.thumbs.redditmedia.com/_Zm7kz1qChMCVTS9pX55C2y8YdR_CGnW2R5SxM-tvSQ.jpg "Ben Mezrich, author of 'Bitcoin Billionaires' reveals which early Bitcoiners [which characters] will be in the upcoming Bitcoin Billionaires movie | Podcast Clip") |
submitted by /u/au785 [link] [comments] |
Saturday, 8 August 2020
I essentially won the lottery, and my dad wants me to give him most of the money. Please advise.
To start, I live in Oregon and I am 22 years old. Live with my dad, always have, never could move out, my career never took off. I do odd jobs and gig economy and my income is about $1000/month. $500 of which I have to give my dad for rent and food, but fair enough. I can't afford a real apartment. The rest I save and spend as I please.
I will add, my dad watches my bank account. He does it to make sure I'm saving money for a car and an apartment. I am 100% owner of my account, my dad can't access the money, but we have it set up so he receives a copy of the statements every month.
Anyway I had invested into cryptocurrency a long time ago, back when it was cheap. And my dad knows about it. Well recently I sold part of my cryptocurrency and received $30,000. I have another $40,000 worth of cryptocurrency that I'm holding on to, haven't sold yet.
So in total I won $70,000, of which $30,000 is a realized gain. That $30,000 was deposited into the account, and dad saw the transaction.
He is now demanding that I set aside $10,000 for myself "because that is all I need", set aside enough to pay capital gains tax, and give him the rest of the US Dollars and Cryptocurrency.
He says if I don't then I'm out of the house the first of next month and he won't accept any more of my $500/month rent. Please advise.
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waiting on confirm and it's taking a really long time...Please help
Hi, I sent a few coins to my coinbase account and it's been over 35 mins and it still shoes "unconfirmed". Can anyone shed some light on this please..?
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source https://www.reddit.com/r/btc/comments/i5s9xm/waiting_on_confirm_and_its_taking_a_really_long/
Is cash app a good place to buy bitcoin
I am looking to buy 1k worth of bitcoin to play with on bitmex. Cash app is my first choice because I already have an account set up. Would it be worth it to set up an account elsewhere just to make one purchase? Any advice is welcome. Thanks in advance!
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AMA Recap: Haipo Yang and Emin Gun Sirer on BCH and Avalanche
AMA Recap Article:
https://read.cash/@SatoshisAngels/recap-on-coinex-avalanche-ama-aug-5-2020-8fe2912d
You can check out the full AMA video here (mostly in Chinese with some English translation):
https://m.bihu.com/live/184?i=1ov3&c=5&s=2Y
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source https://www.reddit.com/r/btc/comments/i5s4i0/ama_recap_haipo_yang_and_emin_gun_sirer_on_bch/
ABC is acting like a ineffective & mad dictator of BCH. Fortunately the cult of personality & ideological extremism enabling ABC is limited to just a few people. We can make this the most successful split in history, countering a rogue implementation. Paradoxically resulting in positive outcomes.
ABC, the "lead implementation" has been making extremely controversial changes without debate, as announcements instead of proposals. Going so far as to literally state that ABC dictates the consensus rules, ignoring the community & market.
The first major red flag was the IFP, an attempt to directly pay ABC from the block reward, changing the underlying economics of BCH. This was met with outrage & was rejected by the community & miners. Laying the seeds for rebellion in the form of BCHN, to compete with ABC.
The patern of ego & delusion that enabled this behaviour goes back years. The DAA is a perfect example of this dysfunction, it should have been fixed years ago.
Even though there where many proposals, ABC announced their own solution which was technically far inferior. This united almost the entire community, businesses & miners against ABC, with BCHN even implementing ASERT, the favored DAA proposal instead, guaranteeing a split with ABC in the minority.
ABC then without any notice implemented ASERT along with the previously rejected IFP. This again united the entire community, bussinesses & miners against ABC with even more fervor.
While ABC refuses negotiation or debate, they are locked in to fork themselves out of BCH, completely ignoring any ecosystem input. Acting like a ineffective & mad dictator of BCH.
How could this have happened?
"Power corrupts & absolute power corrupts absolutly"
This is ultimately our fault, most people put in the position Amoury was put in would have behaved just as badly or worse. He held up for years even warning us of this danger over time.
If we want to do better this time, we have to acknowledge the systemic problems that exist & actively guard against them.
"Eternal vigilance is the price of liberty"
Fortunately the cult of personality & ideological extremism enabling ABC is limited to just a few people. This means that we could be facing the most successful split in cryptocurrency history, where we effectively provide a check against the power of a rogue development team.
ABC has created so much bad faith & opposition, that it paradoxically could result in very positive outcomes.
Written by Justin Bons
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source https://www.reddit.com/r/btc/comments/i5s33u/abc_is_acting_like_a_ineffective_mad_dictator_of/
Finally purchased my first bitcoin!
It was only $50 worth (US) but I have wanted to invest for so long and have never done it. Excited to start investing on a regular basis even if it's small amounts!
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Taking out of savings to buy 1 Bitcoin worth it?
Hi everyone, completely new to Bitcoin and was wondering if it would be worth it to take out of my savings to buy one Bitcoin? I have $40K in savings hoping to get to $50K but should I go the Bitcoin route. Thanks in advance everyone
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How long will my transaction take? More info in body
I sent $1.03 to my friend with a fee of 0.03$ ( 1.011 sat/B - 0.253 sat/WU - 189 bytes) as it says on the blockchain,com website. its been 4 days, how long should I expect it to take? Thanks
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source https://www.reddit.com/r/btc/comments/i5q7sv/how_long_will_my_transaction_take_more_info_in/
"Today we received a 50 BCH donation on our contribution address, along with many others we received earlier. Whoever our kind donors are, we thank you, and will put the money to good use furthering work on Bitcoin Cash, peer-to-peer electronic cash!" - bitcoincashnode
Friday, 7 August 2020
"okay guys we'll use your better code, but you still need to pay me $7,889,400 per year! I need a personal ATM" (paraphrased) - Amaury Sechet, ABC, Dictator
And as the price rises, 8% of the block reward would become more and more absurd. E.g., if BCH went to 10k do you really think Amaury will be developing? No, he would be spending his time enjoying retirement on his own private island enjoying 262 MILLION USD PER YEAR.
But let me remind you of something fundamental. A single users address should never ever be put directly into the protocol. Not Satoshi's, not Gavin's not anyone's. Peer-to-peer electronic cash has been completely compromised if someone has that much power to create their own ATM without doing any work. And as far as work goes, Amaury is not working as hard as other devs in this space. He's stealing their code without attribution, modifying it and calling it good.
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source https://www.reddit.com/r/btc/comments/i53v1t/okay_guys_well_use_your_better_code_but_you_still/
Jiang Zhuoer to support ABC if there is a fork.
"There may in fact indeed be a new cat coin, but Zhuoer has stated if there is a BCH split, he’d follow ABC."
https://www.trustnodes.com/2020/08/06/bitcoin-cash-miners-and-devs-troll-the-community
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source https://www.reddit.com/r/btc/comments/i581xp/jiang_zhuoer_to_support_abc_if_there_is_a_fork/
Since Bitcoin's inception, supporters have always understood that it may come under attack by the most powerful (and resourceful) entities in the world. Each new attack just means one thing... We're still going in the right direction.
Personally, I believe that there are multitudes of attacks being done behind the scenes to destroy not just Bitcoin, but the whole crypto-system. Bitcoin is obviously the main target since it is the first of it's name, and BCH continues from the original ledger to be the original concept of Bitcoin (despite the miners who have an inability to act against perceived authority). This has shown a weakness in Bitcoin. If miners cannot think/act for themselves, then we are doomed. This is just one attack vector amongst hundreds more, and we have to accept that vulnerability and find a way to address it whilst still allowing miners to actually vote/shift to that which they truly support.
Bitcoin threatens the entire world economy. The money of every government. Of every dictatorship. Every bad actor in this world with money to lose.
Do not be disheartened by the nature of disruptive, decentralized technology being under attack. When the attacks stop, then we should be concerned.
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source https://www.reddit.com/r/btc/comments/i583ot/since_bitcoins_inception_supporters_have_always/
Help
Given the circumstances we are in today, I'm interested in purchasing bitcoin. The only problem is I don't know where to begin. Can you guy's please guide as to how to successfully buy bitcoin, the step by step for dummies guide?
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IFP isn't a tax nor a payment
You can be pro or against the IFP for some reasons, but if you are against it because you think that it is a tax or a payment from the miners, you are wrong or worse ... or a liar.
Miners are NOT forced to give all their hash power and then get a cut of 8% of the prize.
So, what they will do will be just giving less 8% of their hash power that are giving now.
They will lose "nothing".
So again it isn't a tax nor a payment.
This without counting that if the money that will arrive to fund the development will be used well, so with the development of new good features, the bch price will probably increase more then 8%.
Miners then will give way more hashing power then now and more of the previous 8% cut.
What if the money from the 8% of the coinbase will be used badly? (no development)
Holders will then sell and miners are NOT forced to mine BCH, they can just go back and mine BTC.
There is a fork every six months, so if the current IFP doesn't work well, other devs can propose their fork without it, or with different address/es easily.
This means that devs must give results every six months to maintain the IFP on their favour.
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source https://www.reddit.com/r/btc/comments/i52lmp/ifp_isnt_a_tax_nor_a_payment/
Is lightning ready enough for a large corporation to adopt it?
What would the failure rate of transactions look like. I guess it depends on different factors such as a direct connection vs routes?
I would really like to see a large grocery store chain adopt lightning.
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Hot in Peru
A friend of mine in Peru just asked me to help her buy some Bitcoin. She's a lawyer and says she's been hearing more and more about it each day. Good news
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Supply scarcity reminders for all.
Everyone knows that scarcity of bitcoin is increasing and that the last bitcoin will be mined in 2140. However, bitcoin is going to get much scarcer much sooner than 2140. Here are some rough estimates.
- Today ~88% of all bitcoin have been mined.
- 2022 ~90% of all bitcoin have been mined.
- 2025 ~95% of all bitcoin have been mined.
- 2030 ~98% of all bitcoin have been mined.
- 2034 ~99% of all bitcoin have been mined.
From the year 2034 to 2140 (106 years), the remaining 1% of all bitcoin that will ever exist will be mined.
Several decades from now, work will begin on mining the final coin. Mining that final 1 bitcoin will take many decades more.
There will come a time when owning a whole bitcoin will be an almost mythical situation that is very rare.
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Thursday, 6 August 2020
Fragmentation of an open-source community breaks a fundamental tenant of "Cheap, Fast & *Reliable*".
You're not supporting consensus if you simply choose to disagree. It needs to be a conversation.
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source https://www.reddit.com/r/btc/comments/i4lpz3/fragmentation_of_an_opensource_community_breaks_a/
Forking Questions
Is there any reasonable estimation of hash power behind ABC vs BCHN?
Do we know how connected ABC is to various big exchanges and CEOs?
Under what circumstances would ABC keep the BCH ticker?
Why is everyone so worried about a split? Isn't that kind of a nice little airdrop? Doesn't it free both sides to experiment and compete to be superior money?
Do you worry about "brand name" confusion (so to speak)? Could people accidentally end up buying the wrong Bitcoin Cash?
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source https://www.reddit.com/r/btc/comments/i4lxsu/forking_questions/
The BTC/BSV split was about increasing the blocksize limit. The BCH/BSV split was about not changing the protocol. The BCH/ABC split will be about rejecting dictators over the consensus rules. If this settles that issue, it would be a major breakthrough for blockchain governance.
Need to take this off my chest...
With all this talk about ABC trying to take over the steering wheel from Bitcoin Cash for their own personal advantage. . . I hope to God their dipshit developers are reading this right now too... We forked out of Bitcoin for this same very reason and we will do it again. Mark my words. We follow those who follow truth, and truth will always, prevail.
It upsets me that things turn out this way but when you really think about it, sometimes we just have to cope with the change and understand to move on and keep going forward, and it's truly what makes us stronger and unique. As humans we fear change from the start naturally especially due to the fact that Blockchain is an extremely new technology for us all, we need to comprehend the wisdom we have learned overtime in our lifetimes outside of Blockchain and the Internet and bring it forth towards this community as a whole, most of us in this community thrive to work together on a better future for societies to come after us and by doing so we have put so much faith into BCH but unfortunately greedy fucks like the developers behind Bitcoin Core and now ABC try highjacking our vision for the future but can we blame these ignorant imbeciles? Let me emphasis GREEDY IGNORANT IMBECILES.
With that being said, I for one will be ready to fork out of this bullshit take over that they will try and attempt and move forward with my community and thrive towards the truth and what is righteous for the future, and whatever that may entail I highly encourage us as community to take the time together as a community and communicate this thoroughly before a division ensues like the mainstream media has inflicted on the American people since the inception of the mainstream media. God bless you all, love and peace. 🙏❤️✌️
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source https://www.reddit.com/r/btc/comments/i4l4jt/need_to_take_this_off_my_chest/
The /buttcoin feed
So I'm trying to educate myself on crypto. It's hard to find negative reviews outside of /buttcoin lol. Does that group have any merit? I find that negative perspectives are just as important. Please help! Tyvm!
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source https://www.reddit.com/r/btc/comments/i4gu26/the_buttcoin_feed/
I've been participating in the BCHN Slack since quite early and let me tell you one thing
The culture there is amazing.
No, really, you have to check it out sometime. Everyone's welcome.
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source https://www.reddit.com/r/btc/comments/i4gxhr/ive_been_participating_in_the_bchn_slack_since/
Wednesday, 5 August 2020
![Dave Portnoy's Rant About Bitcoin! [The Winklevoss Twins Agreed To Help Him With This]](https://b.thumbs.redditmedia.com/np02oF7VPlLYkR90xVjejP5k-0izKYxzytHfx21vCvI.jpg "Dave Portnoy's Rant About Bitcoin! [The Winklevoss Twins Agreed To Help Him With This]")
Let's play a game. General Protocols is offering prizes distributed from a 500 usd prize pool for developers to make an AnyHedge contract during the Beta period and provide feedback.
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