Saturday, 22 August 2020

Inflation Is Guaranteed Amid COVID-19; This Is Bitcoin's Pivotal Moment (3-minute audio clip from Abra CEO Bill Barhydt & Anthony Pompliano)

Inflation Is Guaranteed Amid COVID-19; This Is Bitcoin's Pivotal Moment (3-minute audio clip from Abra CEO Bill Barhydt & Anthony Pompliano) submitted by /u/PodClips
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$1M Bitcoin

If any startup builds a DeFi network using the lightning network, the price of BTC would easily 100x

submitted by /u/tulumex
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On why Hayen Ottos flipstarter is having a hard time and why we should fund it.

The backdrop

The BCH community is in the process of taking its power back from a dictator who seems to have turned against them. I've been looking for an expression matching that process... it's not a coup d´état, because a coup is done by a small group of people. I found a definition of "revolution" that fits:

2 b: a fundamental change in political organization. especially: the overthrow or renunciation of one government or ruler and the substitution of another by the governed

So I'll call it a revolution and the growing group of people doing it the resistance.

While we're not necessarily "substituting nother ruler", but we sure overtrhowing the current one.

Part of the expression of the power of those "governed" takes place in the form of funding (or not funding) these flipstarter campaigns, where people offer to build things for BCH. It's both expression of opinion (backed with wallets) and a channeling of energy into the projects the contributors think should be done. It also shows funding of infrastructure and development can be done using voluntary contributions, an alternative to the method proposed the current dictator that fuelled the revolution greatly.

Haydens position

Hayden invested a lot of effort into building and marketing the BCH brand. He had a huge impact on BCH adoption.

Hayden stated his efforts will go into the chain that retains the Bitcoin Cash branding and equates that with the longest chain (which is probably correct).

This could be said to be "taking a neutral position".

He's planning for the outcome of the revolution failing.

Reaction to Haydens position

Hayden has been vigorously and very emotionally attacked by /u/NilacTheGrim (among others), who demands Hayden should take a clear position against the IFP and commit to supporting only the chain that doesn't feature any coinbase reward diversion.

This is understandable: People like Hayden have a lot of reputation and them taking sides has great effect on others. So it would be extremely good for the revolution if Hayden sided with it and increase the chances of success.

Reaction of Potential contributors

contributors have been comparably slow in contributing to the flipstarter proposed by Hayden (make promo vids for BCH).

NilacTheGrim is an outstanding member of the resistance. He does great work as a developer.

Haydens fallout with him creates huge uncertainty and doubt around his flipstarter.

I propose this is the top reason for the fundraiser not going as quickly as it could.

My own actions

Firstly I would like to call on Hayden to rethink his position and make use of the power he has to effect hugely positive change. Have no fear and join us!

After thinking for a while and sleeping over it I still think it makes sense to fund Haydens projects. In the event of the revolution succeeding he will support our chain and in the event of the dictator managing to cling to power I can live with having thrown money the wrong way. I will wish the best of luck to BCHABC, sell most of my stash and take a break to rethink everything and focus on my family.

I call on contributors that haven't already contributed and still have some powder left to rethink their stance. Hayden is an asset to BCH just like the great developers we have and we should pay him.

I think we should be able to accept Haydens "neutral stance".

I also think this is not the time to "play it safe" and plan for all outcomes. I propose to assume the revolution will be a success and thereby help make it one.

I have doubled my contribution to https://flipstarter.bitcoinbch.com/ (from 11 to 22 BCH)

submitted by /u/moleccc
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source https://www.reddit.com/r/btc/comments/ieek7t/on_why_hayen_ottos_flipstarter_is_having_a_hard/

Can I split my old BCH into BSV as well?

Howdy r/BTC, I have a Jaxx wallet with a little BCH on it. Would like to get the BSV off it from after the split as well if possible.

I've read a few posts but this crypto stuff is all incredibly confusing to me 😅 I don't know how to check whether a wallet does ‘automatic replays’ or not.

Can I still get the BSV, and if so, could you please explain plainly how to do that?

Any input is greatly appreciated!

submitted by /u/phenny
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source https://www.reddit.com/r/btc/comments/ieerku/can_i_split_my_old_bch_into_bsv_as_well/

World’s Best Chess Player: Bitcoin Empowers Individuals to Be More Than Just Pawns to Reckless Governments | Jeffrey Gogo

World’s Best Chess Player: Bitcoin Empowers Individuals to Be More Than Just Pawns to Reckless Governments | Jeffrey Gogo submitted by /u/unitedstatian
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source https://www.reddit.com/r/btc/comments/ieejp3/worlds_best_chess_player_bitcoin_empowers/

Flipstarter.gameflame.cash is almost (94%) Completed

Flipstarter.gameflame.cash is almost (94%) Completed Finger crossed, let see Who will be doing the honor to make it "Fully funded" . Amazing BCH community Stands with innovative ideas. Thanks to all contributors so far for believing in this idea .

submitted by /u/ralaks
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source https://www.reddit.com/r/btc/comments/ieea69/flipstartergameflamecash_is_almost_94_completed/

Join read.cash if you like Bitcoin Cash!

Join read.cash if you like Bitcoin Cash! submitted by /u/Artwark
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source https://www.reddit.com/r/btc/comments/ieeas2/join_readcash_if_you_like_bitcoin_cash/

London street art

London street art submitted by /u/growthmonkey
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Raoul Pal: A Perfect Storm Has Brewed For Bitcoin

Raoul Pal: A Perfect Storm Has Brewed For Bitcoin submitted by /u/PabloClarke
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Google Search Data Shows New Spike In Public Interest In Crypto....

Google Search Data Shows New Spike In Public Interest In Crypto.... submitted by /u/maxman72go
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source https://www.reddit.com/r/btc/comments/iedkhb/google_search_data_shows_new_spike_in_public/

Time to buy in

Lets start off by saying I have called a lot of the dips back in 2016-2020 just check my posts on here and bitcointalk. I know this might dip, and hell we might even see 10,500-11K again. There is just too many forces at work for this not to go a lot higher though.

#1 is you have Greyscale and other companies picking up huge amounts of bitcoin almost double even what the miners are able to produce per block. Simply put the supply is dwindling and the upward pressure will be too strong at some point. The miners tend to sell some of their rewards, but they are not selling all.

#2 The dollar is in a really bad situation here. If people are noticing the main correlation of where bitcoin price goes it lies in the strength/weakness of the dollar. With 28 trillion in debt I am not sure how we make it out of this hole. I don't think you will see it completely collapse, however the printing presses are really going full tilt which inflation is under control right now, but for how long ? One of the major currencies Dollar, Yen, Euro, or Yuan will come close to collapsing in the next few years. Fiat can only go for so long before it needs a hard re-set.

#3 Mining rewards were halved. I know this was months ago, but not having double the bitcoin being dumped is a huge advantage. The bitcoin is in strong hands / hodlers.

#3 the Defi game has changed the landscape. More and more people are going to jump on the Defi bandwagon and get their bitcoins wrapped or use Blockfi, Aave ect. In the short term these can be used to short bitcoin, but it's already creating a wave of buying so people can get the yield. This has more advantages on upward price movements as it will control the tempo. On the other side of this however is in a year or two one of these will blow up taking everyone's btc with them so be careful.

#4 On August 1st we had a sell off where they pushed the bid down from 12k to 10,500 in 15 minutes on massive sell orders and some stop loss selling. Each tumble like that is getting more and more expensive. These pushes are to scoop up the derivatives they buy before the major sell offs . This has been a ongoing trend in bitcoin from even the early years (not the derivatives side). As time goes on and there are less and less coins these are getting way more expensive to manipulate it on the short side. That's why they did the dump in such a short time frame, because the longer the dump is going to cost even more money.

Overall I can really see this taking off again soon after the consolidation. I also believe we take out the ATH here in a few months.

submitted by /u/ridenourt
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After discovering LN I won't stop using it 😁 I've already introduced it to my family members it's amazing ❤️

After discovering LN I won't stop using it 😁 I've already introduced it to my family members it's amazing ❤️ submitted by /u/wick0x
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Guys, I noticed something, Binance is starting to get more blocks than other pools.

We might get BCHN, but Binance might soon get 51% due to this. Please calm me down.

https://cash.coin.dance/blocks

submitted by /u/RowanSkie
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source https://www.reddit.com/r/btc/comments/ieb6qv/guys_i_noticed_something_binance_is_starting_to/

Who Knew About Bitcoin In The 90s? It Seems These People Did

Who Knew About Bitcoin In The 90s? It Seems These People Did submitted by /u/Lincoln85a
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Researchers call on CoinMarketCap to highlight wash trading

Researchers call on CoinMarketCap to highlight wash trading submitted by /u/josh-mountain
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Top 10 Crypto Gainers on CoinMarketCap This Week

Top 10 Crypto Gainers on CoinMarketCap This Week submitted by /u/dalli80
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source https://www.reddit.com/r/btc/comments/ieamw6/top_10_crypto_gainers_on_coinmarketcap_this_week/

HOW TO: Add Bitcoin Cash as a Payment Option at Checkout on Your WordPress Store (or Retail Store) with Anypay® in 5 Minutes or Less at Zero No Cost to You!

HOW TO: Add Bitcoin Cash as a Payment Option at Checkout on Your WordPress Store (or Retail Store) with Anypay® in 5 Minutes or Less at Zero No Cost to You! submitted by /u/FR33MANTV
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source https://www.reddit.com/r/btc/comments/ie9oua/how_to_add_bitcoin_cash_as_a_payment_option_at/

I've got a way to make $2000 pretty quickly, dm me for more details or join the group

submitted by /u/Key_Repeat_1852
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source https://www.reddit.com/r/btc/comments/ie9rmn/ive_got_a_way_to_make_2000_pretty_quickly_dm_me/

Brilliant summary of Dave Portnoy messing up

Brilliant summary of Dave Portnoy messing up submitted by /u/mbrookson
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Whoa! SMART CONTRACT on Lightning!

Whoa! SMART CONTRACT on Lightning! submitted by /u/BitcoinIsSimple
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What are the most common Bitcoin FUD?

Here is my list in order of how often I hear them:

  1. Bitcoin is a bubble or a fad
  2. The government will shut it down
  3. Bitcoin is too volatile to be an actual currency
  4. Bitcoin is for criminals
  5. What happens if the internet goes down/EMP?
  6. Bitcoin is backed by nothing
  7. I’ve heard of “Bitcoin hacks”, so Bitcoin will get hacked and is unsafe.
  8. Bitcoin can be copied (altcoins). What stops Bitcoin 2.0 from winning?
  9. Bitcoin is going to ruin the environment
  10. Bitcoin won’t scale up to support all global transactions
  11. Deflation is bad
  12. Developers will put a bug into the protocol
  13. Miners will abandon Bitcoin when the miner subsidy runs out

Please suggest more. I want to get a solid crowd-sourced list.

submitted by /u/ReedWommack
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The optimal governance structure for early-stage projects is founder dictatorship. The optimal governance structure for mature projects has large user/stakeholder involvement. "Exit to community" continues to be underrated as a way to get both. - Vitalik

The optimal governance structure for early-stage projects is founder dictatorship. The optimal governance structure for mature projects has large user/stakeholder involvement. "Exit to community" continues to be underrated as a way to get both. - Vitalik submitted by /u/throwawayo12345
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source https://www.reddit.com/r/btc/comments/ie8nfc/the_optimal_governance_structure_for_earlystage/

!!! BCH leads in last 24 hours: 51.4% BCHN, 48.6% other (at ~23:23 UTC Fri Aug 21) !!!

!!! BCH leads in last 24 hours: 51.4% BCHN, 48.6% other (at ~23:23 UTC Fri Aug 21) !!!

(Title should say "BCHN leads" instead of "BCH leads".)

Check out the newly added graphic at: https://cash.coin.dance/blocks/historical . Note the dotted lines (orange for BCHN-signaling blocks, gray for other blocks). The period covered is the last 24 hours!

NOTE: \"BCHN blocks\" counts only BCHN signaling blocks. \"Other\" is all other blocks.

submitted by /u/Rare_Iron_5522
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source https://www.reddit.com/r/btc/comments/ie88qz/bch_leads_in_last_24_hours_514_bchn_486_other_at/

Friday, 21 August 2020

Lightning Network: the Wumbo update is here - The Cryptonomist

Lightning Network: the Wumbo update is here - The Cryptonomist submitted by /u/AlanOne89
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The IFP would make ABC a private centralized blockchain

Instead of securing voluntary funding based on what they actually deliver, ABC arbitrarily redistributing miners' rewards to themselves as guaranteed income would make it a central planning agency akin to a government monopoly. Such a monopoly would have reduced incentives to be efficient and write good code, because its income would not depend on its performance and there'd be reduced competition from other developers that it doesn't whitelist for funding from its coffers. Thus the IFP would lead to development stagnation.

Of course, investors can leave, and so there is some market price incentive to keep development going -- but Amaury himself said he doesn't care if the price crashes so long as he gets some guaranteed income as opposed to none (like a government still gets its taxes even if it strangles the economy). Besides, since he would have full centralized control, he could easily make the 'tax' more than 8% going forward.

As for miners, as many others have said, less monetary incentives for them means lower hashrate, less security, but also higher miner monopolization, as smaller miners are less able to absorb the 'tax' and stay profitable. (This kind of monopolization also happens with government taxation because large corporations can afford to lose more to taxation than small businesses).

Bitcoin is supposed to be a decentralized, competitive system to prevent a single point of failure that would leave it exposed to capture and attack by governments and other hostile entities, or simply incompetent developers. The solution is multiple implementations that compete for adoption and funding. That crucial market mechanism is exactly what the IFP breaks.

I again urge everyone involved in this plan to reconsider, to avoid breaking Bitcoin's decentralized nature and to prevent another messy fork.

I apologize if some of the phrasing is awkward, it's not my native language.

submitted by /u/weepingswords
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source https://www.reddit.com/r/btc/comments/idtdtc/the_ifp_would_make_abc_a_private_centralized/

Flipstarter campaign gameflame.cash is now 51% funded.

I hope it get fully funded soon, for proof of concept I launched a demo game, got sponsor for prize and built it without any coding background . I know for sure with the help of community I can Successfully make this experiment one of the most progressive platform.
https://www.reddit.com/r/btc/comments/icrka8/announcing_flipstartergameflamecash/

submitted by /u/ralaks
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source https://www.reddit.com/r/btc/comments/idtaxc/flipstarter_campaign_gameflamecash_is_now_51/

Who would you choose?

Who would you choose? submitted by /u/BCHcain
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source https://www.reddit.com/r/btc/comments/idsq0u/who_would_you_choose/

Worst Case Scenario, Bitcoin Really Does Go To The Moon, and Beyond. Let's Discuss

This is an entirely hypothetical scenario where the price of btc really does go to the moon, or even beyond in a manner similar to PlanB's stock to flow model.

Phase 1, bitcoin continues to rise in price from its current level of about $12,000. Some in the investing industry take notice and move into btc as a reserve asset, but so far bitcoin continues to remain an asset few are thinking about and fewer are investing in.

Phase 2, the price of bitcoin has risen to $50,000 and what was once one or two corporations investing is now a handful. Bitcoin is now in the news fairly regularly and CNBC now displays a ticker. A few more corporations are investing and the Robin Hood crowd is starting to really take notice. The DXY has dropped from the low 90's to the high 80's. Congress finally passed another round of stimulus and even more people are beginning to seriously discuss UBI as both parties want to do whatever it takes to get into office.

Phase 3, a modest UBI was finally passed subject to yearly congressional renewal. At first, everyone is extremely happy and the economy begins to boom. Stocks are making all time highs again. Covid restrictions begin to greatly ease and the economy is on the mend. Inflation is modest when using the official statistics and nobody is too worried. Perhaps the fans of MMT were right all along.

Phase 4, bitcoin continues to rise. Countries quietly and sometimes not so quietly grumble about both the level of debt the US has, the falling strength of the dollar, and the US's ability to control sovereign nations via the use of the dollar and sanctions. North Korea announces it is going to start mining and accruing bitcoin. The world laughs.

Phase 5, more companies are beginning to move into bitcoin and and price moves about $100,000. The market cap is now 2 trillion and about a thrid of the market cap of gold. Several additional small countries make public that they are mining bitcoin and strategically accruing it at a national level. The DXY begins to inch closer to 80.

Phase 6, the DXY drops below 80. Several small countries announce they are going to being to lower their holdings of dollar denominated treasuries in an effort to diversify risk. Several fortune 500 companies announce they are going to diversify into bitcoin as well. The price of bitcoin quickly rises to $200,000.

Phase 7, China announces that it will no longer hold US treasuries. At first, this seems of no consequence because they had been lowering their holdings for years. The Bank of Japan announces it will continue to buy US treasuries. Many see this as a means of Japan to assure its national safety and the protection of the US. The DXY continues to slowly fall and is now in the high 70's.

Phase 8, several countries now announce that they will allow the use of bitcoin for international trade as it is a perfect medium of exchange between countries. Additionally, many countries are now accruing bitcoin and gold for their national reserves. Bitcoin passes $750,000.

Phase 9, the DXY falls below 75. Countries where the population was holding dollars now see that it has lost a quarter of its value. In a panic they all rush to the only obvious alternative which is bitcoin. The ability to use the lightning network makes it very inexpensive to buy and sell.

Phase 10, the cost of all imports have doubled in the recent months. Everyone is blaming everyone else. Rioting has continued to be a nightly occurrence and has moved into the suburbs as there is little left in the cities to take.

Phase 11, the US blames China for the fall of the dollar and claims they committed an act of war. The US begins to quietly strategically mine bitcoin and to purchase bitcoin as a reserve asset. Talk abounds about another confiscation like FDR did in the 30's.

Phase 12, hundreds of bitcoin millionaires leave the US and acquire passports in other nations. Many are willing to provide a passport if you are willing to maintain a deposit with them of 0.5 btc in one of the local banks.

Phase 13, the US announces that all citizens must trade in 1/2 of their bitcoin holdings in exchange for the current market price of US dollars. People with money on the exchanges and in custodial banks have it taken automatically. Talk circulates about going after people that have their bitcoin in hardware wallets.

Phase 14, the US dollar continues to fall and loses a half of its value again with respect to btc in the last month. Bitcoin now flees the exchanges and banks in an effort to prevent another possibility of a confiscation.

Phase 15, the US has a bank holiday and announces both a digital currency and a peg to bitcoin at a rate of 10 satoshies to 1 dollar. Severe austerity is announced.

...to be continued.

submitted by /u/freebit
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Bitcoin Amaury Vision: A Peer-to-Amaury Electronic Tax system

Bitcoin Amaury Vision: A Peer-to-Amaury Electronic Tax system submitted by /u/weepingswords
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source https://www.reddit.com/r/btc/comments/idrqm3/bitcoin_amaury_vision_a_peertoamaury_electronic/

How much should jtoomim ask for in his flipstarter?

People have been offering me jobs or encouraging me to run a flipstarter for a while now. I figure maybe I should go ahead and do one to shut them up. I prefer to raise my own money because I value my independence and intellectual freedom. I tend to be more productive when I'm able to choose which projects I work on. But I don't really know how much I should try to raise. What do you guys think I should set as the goal?

I'm planning on working on BCH full time for the next 3 months. I intend to work on projects like:

  1. Getting Xthinner fully specified, into some full nodes and widely deployed
  2. Getting Blocktorrent-TCP to the functional prototype state
  3. Building better regtest benchmarking systems for stress tests, like my planet-on-a-LAN remote_stress system (currently about 80% complete)
  4. Getting testnet4 and scalenet running (this shouldn't take much longer)
  5. Implementing my anti-reorg algorithm (see also my simulator)
  6. Continuing to support aserti3-2d deployment
  7. Fixing the chained tx limit issue in nodes that still have it
  8. Parallelizing code and addressing the LOCK(cs_main); issue in nodes other than BU
  9. Writing a new UTXO database and/or cache system -- ideally, one that uses copy-on-write semantics to allow for snapshotting and multiple simultaneous chaintips, uses atomic operations instead of locks to allow for concurrent operation, one which can be used to quickly compute UTXO commitments, and one that can work with memory-mapped IO or which uses a format that works about as well in RAM as on SSD (note to self: check out Flowee's system to see if it is sufficient)
  10. Porting this UTXO db code plus the script execution and transaction validation code to OpenCL, because I think it would be kinda neat to be able to fully validate the blockchain in about 10 minutes on a 1080 Ti.

Three months is probably only enough time to check a few things off of that list, and I'll also probably end up working on some things not on that list, but this might give you an idea of my intentions and ambitions.

submitted by /u/jtoomim
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source https://www.reddit.com/r/btc/comments/idqaca/how_much_should_jtoomim_ask_for_in_his_flipstarter/

IRS Violated 'Taxpayer Bill of Rights' With 2019 Crypto Letters: Watchdog

IRS Violated 'Taxpayer Bill of Rights' With 2019 Crypto Letters: Watchdog submitted by /u/simplelifestyle
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Fool me once, shame on you.. fool me again.. (UPDATED)

Fool me once, shame on you.. fool me again.. (UPDATED) submitted by /u/ClarenceBCH
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source https://www.reddit.com/r/btc/comments/idq4sf/fool_me_once_shame_on_you_fool_me_again_updated/

$1,000,000 in 5 months. Stakeholders continue to invest in the commons using Flipstarter. Also, how to get new features implemented!

$1,000,000 in 5 months. Stakeholders continue to invest in the commons using Flipstarter. Also, how to get new features implemented! submitted by /u/emergent_reasons
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source https://www.reddit.com/r/btc/comments/idople/1000000_in_5_months_stakeholders_continue_to/

Bitcoin wizard spotted near my garden!

Bitcoin wizard spotted near my garden! submitted by /u/AzSy11
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Should I use bitcoin over western union?

I want to make a transfer, however, I would like to stay as anonymous as possible. I always thought that bitcoin was pretty much as anonymous as you could get but I recently found out that all transactions are stored publicly and you can see a wallet’s history. If I’m going to use my debit card to buy the bitcoin, would it not mean that if someone had the intent to trace, they could still follow it back to me? If that’s the case should I not just use WU for ease and speed? I know this post is a bit weird but I’m just being paranoid and trying to foresee everything I can.

Thanks

submitted by /u/miquelrius
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Bitcoin Cash is a lifestyle.

Bitcoin Cash is a lifestyle. submitted by /u/CryptoStrategies
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source https://www.reddit.com/r/btc/comments/ido7cz/bitcoin_cash_is_a_lifestyle/

I'm... new to this thing

What's bitcoin and how does it work. Someone by the name of egon gave me 50c and idk. How do I earn bitcoins? I'm 15 so i can't buy anything can someone give me a run down of bitcoin

submitted by /u/bred_skate
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source https://www.reddit.com/r/btc/comments/idnu9x/im_new_to_this_thing/

Bitcoin Cash is a Democracy! (Brought to you by u/Lugaxker)

Bitcoin Cash is a Democracy! (Brought to you by u/Lugaxker) submitted by /u/Jstodd_
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source https://www.reddit.com/r/btc/comments/idnh77/bitcoin_cash_is_a_democracy_brought_to_you_by/

venezuelaworkers.com got 30% funded! Help us reach 100% to make possible a better platform for Venezuelans to earn Bitcoin Cash (BCH)!

Check our funding site at

https://flipstarter.venezuelaworkers.net

We are aiming to get funded to offer a better platform with more tools for employers and workers. Our main objective is to allow Venezuelans to get wages in Bitcoin Cash, by creating a place they can seek jobs and task paid in BCH.

Want to post a job now? You can try! Over 200 Venezuelans are looking today. From professional to a small task, you can offer any job you need for your company or project.

Venezuelaworkers.com

Help us achieve our goal, for more adoption opportunities. I respond any question below about us. Flipstarter link has all details on money management, expenses and transparency ✌🏻🙂.

submitted by /u/oscar_salas93
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source https://www.reddit.com/r/btc/comments/idly1w/venezuelaworkerscom_got_30_funded_help_us_reach/

How YOU Contribute to a Bitcoin Cash Flipstarter - Let's show that voluntary funding works!

How YOU Contribute to a Bitcoin Cash Flipstarter - Let's show that voluntary funding works! submitted by /u/CryptoStrategies
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source https://www.reddit.com/r/btc/comments/idlq6m/how_you_contribute_to_a_bitcoin_cash_flipstarter/

BCH Latam Jul 2020 Activity Report

BCH Latam Jul 2020 Activity Report submitted by /u/georgedonnelly
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source https://www.reddit.com/r/btc/comments/idlztd/bch_latam_jul_2020_activity_report/

Why IFP is not needed for Bitcoin's development

Why IFP is not needed for Bitcoin's development submitted by /u/alexiglesias007
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source https://www.reddit.com/r/btc/comments/idmf6m/why_ifp_is_not_needed_for_bitcoins_development/

Supporting the New Bitcoin Cash Coinbase Rule

Supporting the New Bitcoin Cash Coinbase Rule submitted by /u/afriendofsatoshi
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source https://www.reddit.com/r/btc/comments/idmb7t/supporting_the_new_bitcoin_cash_coinbase_rule/

What is the best app to make instant purchases and payment of BTC?

Hey guys, I’m a newbie in this trending crypto technology ( Bitcoin to be specific). Which platform can I use to instantly buy my Bitcoin at a relatively low price? I’ve tried coinbase but its fees are outrageously high.

Moreover, a platform that would allow me to make quick payments with Bitcoin for any type of goods and services even if the merchant has a traditional POS terminal (fiat).

I’ve heard of Lightning Network (LN), which I find an interesting concept of solving the unending debate of buying a cup of coffee for BTC and has accelerated transactions too. I’m lured into trying this tech but my concerns are, should I put all my head into it when we all know most merchants haven’t embraced it yet? Then, with all these sophisticated techniques behind it will I send Bitcoin via LN to my peer without them having to understand those nitty-gritty details?

Thank you for your help.

submitted by /u/islyfe
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My Bitcoin Story -- This is why you HODL

During the Christmas of 2012, we teamed up with Bitcoin Black Friday to be one of the first apparel companies to accept Bitcoin for purchases. We had no idea if anyone would actually buy anything with their bitcoin, but we were new and small and we were looking for ANY revenue streams. There were a couple of great processors that we new we could convert back into dollars quickly and not lose too much money if the price of bitcoin went down (Laughing at this thought right now).

The price at that time for a bitcoin was around $13 each. We had more than 2000 coins came through the website that Christmas. We talked about holding them, but then bills and running a business got in the way. Today those 2000 coins would be worth $22 Million dollars. If only we had held on. Anyways, i do own Bitcoin today, but only a fraction of 1 bitcoin. The irony of that is so funny. Now I buy and hold, but holy cow what if! :)

submitted by /u/rememberdan13
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New release of JoinMarket 0.7.0, includes BIP78 payjoin support, pre-built GUI executable for Windows, backend library changes and other minor fixes

New release of JoinMarket 0.7.0, includes BIP78 payjoin support, pre-built GUI executable for Windows, backend library changes and other minor fixes submitted by /u/neonzzzzz
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Thursday, 20 August 2020

Yearn Finance Token Jumps 270% in 5 Days - Defi Token YFI Worth More Than a Single Bitcoin

Yearn Finance Token Jumps 270% in 5 Days - Defi Token YFI Worth More Than a Single Bitcoin submitted by /u/jamieBitcoinDotCom
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source https://www.reddit.com/r/btc/comments/idbp02/yearn_finance_token_jumps_270_in_5_days_defi/

Pro-Bitcoin Senate Candidate Wins Primary Race in Wyoming

Pro-Bitcoin Senate Candidate Wins Primary Race in Wyoming submitted by /u/notcredibleyet
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Bitcoin Goes Mainstream in Turkey with National Soccer Team Sponsorship by BTCTurk

Bitcoin Goes Mainstream in Turkey with National Soccer Team Sponsorship by BTCTurk submitted by /u/wmredditor
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source https://www.reddit.com/r/btc/comments/id9gxk/bitcoin_goes_mainstream_in_turkey_with_national/

‘Extreme’ Bitcoin Growth In Africa Is Sending Crypto ‘Mainstream,’ Binance-Backed- Exchange CEO Reveals Alongside Fresh Funding

‘Extreme’ Bitcoin Growth In Africa Is Sending Crypto ‘Mainstream,’ Binance-Backed- Exchange CEO Reveals Alongside Fresh Funding submitted by /u/throwawaythisdecade
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Advice for selling Bitcoin holdings as a minor

Hello Reddit,

As a tween, I learned about Bitcoin from online forums and I started "obtaining" it (legally). I amassed a large amount of Bitcoin and I am now a teen.

I have told people around me as little of information about my holdings and I would like to cash out my holdings in the future as privately and securely as possible. I will still pay taxes (discreetly) so it would be legal.

Any advice?

submitted by /u/AbbreviationsTricky
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Daily Discussion, August 20, 2020

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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How to Contribute to a Bitcoin Cash Flipstarter

How to Contribute to a Bitcoin Cash Flipstarter submitted by /u/CryptoStrategies
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source https://www.reddit.com/r/btc/comments/id97rh/how_to_contribute_to_a_bitcoin_cash_flipstarter/

The IFP would lead to devs spending all day politicking for a share of the money rather than actually building useful tools for the world. #NOIFP

submitted by /u/MemoryDealers
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source https://www.reddit.com/r/btc/comments/id9v4r/the_ifp_would_lead_to_devs_spending_all_day/

ScaleNet - a testnet dedicated to testing scalability.

ScaleNet - a testnet dedicated to testing scalability. submitted by /u/JonathanSilverblood
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source https://www.reddit.com/r/btc/comments/id9sff/scalenet_a_testnet_dedicated_to_testing/

BIP 157 PR has been merged in Bitcoin Master (Opt-in support for Light Clients like Neutrino) 🎉

BIP 157 PR has been merged in Bitcoin Master (Opt-in support for Light Clients like Neutrino) 🎉 submitted by /u/C5H5N5O
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This is how Elon Musk will mine gold in space, like the Winklevoss twins stated last week

This is how Elon Musk will mine gold in space, like the Winklevoss twins stated last week submitted by /u/Snoo-68587
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Turkish National Football Team has a new main sponsor

Turkish National Football Team has a new main sponsor submitted by /u/hodl_ninja
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Double Spend Proofs, phase 2

Double Spend Proofs, phase 2 submitted by /u/ThomasZander
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source https://www.reddit.com/r/btc/comments/id8nyl/double_spend_proofs_phase_2/

Any BCH users in South Africa?

My family are interested in 'investing' in bitcoin.

But I think this maybe a risky and expensive investment. However I dont want to completely discourage them using and exploring crypto altogether.

Are there many merchants who are using BCH in SA? Or other there other cryptos that have a similar level of popularity?

Thanks

submitted by /u/150yearsOld
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source https://www.reddit.com/r/btc/comments/id33q6/any_bch_users_in_south_africa/

Middle Eastern Restaurant Chain Converts Entire Reserves to BTC

Middle Eastern Restaurant Chain Converts Entire Reserves to BTC submitted by /u/NimbleBodhi
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Friendly reminder that there are estimated to be ~47 Million millionaires globally

It would be literally impossible if even a Quarter of the millionaire population wanted to buy and own 2Btc (~25K).

submitted by /u/Amazonn_Pro
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Hey guys, I'm out it was a great run, thanks to all

It was a fun run, but I finally made enough money to live comfortably. Hope you guys hit your dreams too! And if what I sold for millions becomes worth billions one day, then someone please kill me before I do it myself.

Okay, now that those readers are gone, I'm not really out. Fuck that I'm never selling my coins. Someone will have to offer me a rate of 100k a coin to sell off even 1% of my holdings, and over 1 million a coin if they want 3% of my holdings. The most I'd ever sell is 10%, and that's only if they offer me 10 million per coin. After that, I don't care if they offer me 1 billion per coin I ain't selling shit. Only way I'll use it after that is as collateral for rental buildings and other businesses. Anyway, hopefully this post tricks the trading bots. HODL on hermanos! And most importantly, BUY THE FUCKING DIP!

submitted by /u/PositiveResonanceSng
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What helps Bitcoin to grow. I think it's awesome!

What helps Bitcoin to grow. I think it's awesome!

Recently i've got one idea, i've checked several data sources and would like to describe it here

So, look

This is the price chart from cmc

https://preview.redd.it/5tfmb853r0i51.png?width=1141&format=png&auto=webp&s=c38662bec4f51caa0ccfab20447c59e46357f9cd

https://coinmarketcap.com/currencies/bitcoin/

This is transactions chart from Blockchain.com

https://preview.redd.it/n1joakper0i51.png?width=902&format=png&auto=webp&s=5077161ac6985da1811da3ac3ce862113bb37b7a

And this is chart of new companies accepting Bitcoin from Cryptwerk.com

https://preview.redd.it/n2lp14mlr0i51.png?width=648&format=png&auto=webp&s=eeef08cb9c5dfbf1f787f0af1262b314fde9ebef

https://cryptwerk.com/analytics/bitcoin/

we are interested in period from july 2018 to current time, because Cryptwerk started their statistics on in July 2018

SO!

if we compare all charts we'll get this kind of picture

https://preview.redd.it/tb34i1u5s0i51.png?width=631&format=png&auto=webp&s=55ccbb38ac54ff6b4fb8485a1071b7221cae429b

Do you see the strong correlation of 3 factors?

- growth of price

- growth of merchants accepting Bitcoin

- growth of transactions amount

https://preview.redd.it/rq7pzqnms0i51.png?width=106&format=png&auto=webp&s=0e9c57780320493a9b65f318948a08668437ba2d

and actually same with Unique Addresses Used chart

https://preview.redd.it/fuj8w8owy0i51.png?width=923&format=png&auto=webp&s=74861385ff4cf365b46faf8746bdddbd139ae62c

And this is pandemic period!

What i think! Covid crysis created the situation when lot of merchants started to search new ways and markets and found them in crypto world.

Now really thousands ands thousands different stores accept Bitcoin, and may be we entered the new era, of mass adoption that we were waiting so long? When the army of merchants can stabilize and increase Bitcoin price and whole market

What do you think?

submitted by /u/alextailorswift
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₿ Bitcoin is the best alternative of not only dollar, but also all currency.

₿ Bitcoin is the best alternative of not only dollar, but also all currency. submitted by /u/mohiemen
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Let us go to moon.

Let us go to moon. submitted by /u/slywalkers
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So Microstrategy bought 20,000 BTC. If every fortune 500 company bought that same amount, that's over half the entire supply of Bitcoin. Bullish.

Buy Bitcoin. Never sell.

submitted by /u/TurongaFry3000
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Safety first boys and girls!!! Nobody holding my coins for me anymore. Let's do this. To the moon.....

Safety first boys and girls!!! Nobody holding my coins for me anymore. Let's do this. To the moon..... submitted by /u/zach_morris_is_trash
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Bitcoin Audible: Read_430 - Accepting Scarcity, A Bitcoin Meditation [Reed Wommack]

Bitcoin Audible: Read_430 - Accepting Scarcity, A Bitcoin Meditation [Reed Wommack] submitted by /u/BashCo
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Wednesday, 19 August 2020

It's over. BTC.TOP saying no IFP is the nail in coffin

It's over. BTC.TOP saying no IFP is the nail in coffin submitted by /u/ClarenceBCH
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source https://www.reddit.com/r/btc/comments/icgm21/its_over_btctop_saying_no_ifp_is_the_nail_in/

Bancos e DLT

Notasdeaz

RippleNet da Ripple assume parceria no setor de comércio global. Leia íntegralmente no blog Notas de AZ: https://notasdeaz.blogspot.com/

submitted by /u/MotherPop9
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source https://www.reddit.com/r/btc/comments/icgdht/bancos_e_dlt/

Messing with Peter Schiff

Messing with Peter Schiff submitted by /u/rapierce0238
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judica's overarching goal is to fiscally empower humanity.

judica's overarching goal is to fiscally empower humanity. submitted by /u/Bitcoin_to_da_Moon
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BTC.top now signaling for BCHN

The coin base text of block 648979 contains "BTC.TOP/PoweredByBCHN".

https://cash.coin.dance/blocks

submitted by /u/artful-compose
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source https://www.reddit.com/r/btc/comments/icfs6p/btctop_now_signaling_for_bchn/

Them: "So you make prolific FUD sh*tposts every time someone in Bcash pushes your buttons?" Me:

Them: "So you make prolific FUD sh*tposts every time someone in Bcash pushes your buttons?" Me: submitted by /u/Jstodd_
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source https://www.reddit.com/r/btc/comments/icg92o/them_so_you_make_prolific_fud_shtposts_every_time/

read.cash is infest with bots and nigerian scammers farming the fund

read.cash is infest with bots and nigerian scammers farming the fund submitted by /u/ClarenceBCH
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source https://www.reddit.com/r/btc/comments/icg4jl/readcash_is_infest_with_bots_and_nigerian/