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submitted by /u/silverchai [link] [comments] |
source https://www.reddit.com/r/btc/comments/kg29av/eths_ieo_challenger_mahadao_defi_announces_ido_on/
Saturday, 19 December 2020
ETH's IEO challenger: MahaDAO DeFi Announces IDO on Polkadot's Platform
source https://www.reddit.com/r/btc/comments/kg29av/eths_ieo_challenger_mahadao_defi_announces_ido_on/
Canadians.. What is the Cheapest Exchange??
Right now Newton seems to have the cheapest fees/best spreads, and a couple $'s or % saves makes a big difference in the long run. They also get $25 signup bonus https://web.newton.co/r/02GO8W
Please let me know if there's something better
Shakepay isnt quite as cheap but you get the free daily satoshi's/bitcoin every consecutive day you open the app and shake. Cheesy but works out to $40 a month / $500 year. And they have a free $30 code right now https://shakepay.me/r/EI1I5FZ so I recommend using both
Pretty good comparison of all the exchanges and their fees: https://medium.com/paytrie/canadian-cryptocurrency-landscape-analysis-and-outlook-update-july-2020-2875c0bbc12c
Let me know if you need a referral code
[link] [comments]
source https://www.reddit.com/r/btc/comments/kg2ont/canadians_what_is_the_cheapest_exchange/
FINCEN to propose new rules that could impact you. Prepare to fight.
Get ready to submit your comments. Treasury thinking about labeling individual persons as "VASPs" and imposing travel rule requirements on *individuals*.
https://www.coindesk.com/fincen-proposes-kyc-rules-for-crypto-wallets
The new rule is going to be published soon in the Federal Register, and the comment window will only be 15 days. (Usually they afford a 30-60 comment period, which shows just how fast they want to push this through without getting broad feedback from industry and individuals.)
Edit: Here is a good recap and preliminary response from Coin Center: https://www.coincenter.org/a-midnight-rule-for-cryptocurrency-transaction-reports/
I'm still looking for the way to submit comments--doesn't seem to be available yet.
[link] [comments]
Real question
If Bitcoin (BCH) had a name change, what would it be?
[link] [comments]
source https://www.reddit.com/r/btc/comments/kg24to/real_question/
Finally invested in Bitcoin for the first time
Have been wanting to get into Bitcoin for ages and today finally took the plunge and started with £5 lol! But will set up a weekly transfer to take advantage of pound cost averaging and happy to be apart of the family finally!
[link] [comments]
Hi, my name is Elong Mask and I sold my Bitcoin for the more useful Bitcoin Cash today. Whoever pumped Bitcoin is stupid enough to give me more money to buy more Bitcoin Cash. The more they pump, the more BTC will be converted into Bitcoin Cash.
Real question BCH
Why can't we name BCH Bitcoin? Or Bcoin? Like: Bitcoin (BCH) or Bcoin (BCH)
Why does it have to be called Bitcoin 'Cash' ?
[link] [comments]
source https://www.reddit.com/r/btc/comments/kfyvu7/real_question_bch/
Anyone interested on safely btc cloud mining?
Use my referral code on SHAMINING platform and you will get up to 50% bonus!
shamining.com/?r=dymzbd
[link] [comments]
source https://www.reddit.com/r/btc/comments/kfx665/anyone_interested_on_safely_btc_cloud_mining/
Friday, 18 December 2020
The winners in the crypto race will be decided by vendors and users. Focus on the fundamental question: What do vendors and users want? Low fees, fast transactions, high security and ease of use. Vendors and users won't hear or care about the tribal hysteria in the cryptoverse.
My first BCH
I just bought my first bitcoin cash ish and I have a feeling this 300$ coin will turn into 1-2k
[link] [comments]
source https://www.reddit.com/r/btc/comments/kfdlee/my_first_bch/
People better relax with these pull backs, there are going to be some serious profit taking around these ranges. If you can’t handle the fluctuations stay out of the space or you’ll go crazy.
It’s going to be a wild ride as we are in uncharted territory, so either be in for the ride or get out because bitcoin can go anywhere at this point. People giving price predictions now have no clue where she is going to go.
[link] [comments]
Rollercoaster bitcoin guy deserves better.
I've been waiting and waiting for his return and y'all really let me down. He's barely broken 1000 upvotes. Meanwhile a cheap joke about some guy selling his body has blown up?! This guy has been around for years. He smiles on the way up AND down. Don't even try to go and upvote him now. It's too little too late, but the next time he comes around you mfs better show some respect. I get that a lot of people may be new here. That's no excuse.
[link] [comments]
Spare a thought for our US redditors who are sleeping through this.
Well, that escalated quickly.....
EDIT: Now that some of you are up..... did anyone spend a stimulus cheque on BTC? What is the current value of that?
[link] [comments]
At $24,715 we will pass Visa market cap
This target drops every block, as market cap increases by the value of the newly-mined coins, requiring a lower price per coin to reach Visa's current market cap. Visa share price also fluctuates when the NYSE is open.
[link] [comments]
If you invested $1,000 ten years ago
As of December 17, 2020
Apple: $12.7k
Google: $6k
Facebook: $9k
Amazon: $22k
Netflix: $34k
Tesla: $159k
Gold: $1.6k
Silver: $1.6k
Bitcoin: $288M
[link] [comments]
Is there Bitcoin Cash <> Bitcoin atomic swaps by chance?
Hello hello!
Alright so I’m seeing all these Kim DotCot posts about a $3k BCH. I’m not big on price, but I do like to think about what might need to happen for us to see a particular crypto reach a price like that. A logical path.
Something that came to mind was the ability to atomic swap BTC for BCH. This is a feature the Monero community is work on getting implemented and I was wondering it Bitcoin Cash may have already had atomic swaps with Bitcoin?
Is there a site that has it readily available someone could toss up here in the comments?
[link] [comments]
source https://www.reddit.com/r/btc/comments/kfcbmx/is_there_bitcoin_cash_bitcoin_atomic_swaps_by/
Is it to late to get into BTC?
I am 18, just started investing a few months back. I was intimidated by the huge price of btc so i went with litecoin instead, but i just hate seeing that i could be in the btc wagon but i just dont know where to start. Can anyone help me out?
[link] [comments]
source https://www.reddit.com/r/btc/comments/kfc4nr/is_it_to_late_to_get_into_btc/
Cash App now recognizes Sats instead of Btc when purchasing
For those of you who wanted to adapt “satoshis/sats” instead of “Bitcoin”, Cash App is on the move. Noticed it declared my purchase in sats when I bought at ATH... 😂
Edit: no longer ATH
[link] [comments]
Be vigilant and cautious, while enjoying the current adoption of BTC
There is lots of euphoria and jubilation that BTC has broken through to a new ATH. I think there are certain elements of this current BTC bullrun/market that are unique and should be called out:
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Larger public institutional investors are buying into BTC near ATH prices. This is important because more institutions aren't into "gambling" and will very much not want to take a loss. This legitimizes BTC in some ways, but also offers a certain threat that if the price action turns the opposite way, they'll hand their bags off to the first rube willing to hold them.
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Almost no fanfare. In 2017, when BTC rallied to $20k, there was lots of fanfare across multiple news and investment outlets. This time, the BTC rally has almost been covered as an inevitability.
There are lots of new people on this sub that could easily get wrapped up in the positivity. I've been a BTC holder since 2016, but only seriously got into it recently and made it a larger part of my net worth portfolio. I think the most important thing to keep in mind about BTC are the followings:
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Temper positivity with reality. BTC can be life changing, but it still has many head winds from major government monetary institutions. Its value is extrinsic, in that it has value because there is inherent worth in a fixed float, proof of transaction, historical record based currency. But since none of those things can be "owned" by large governments, there will be headwinds by those in power to suppress the adoption of such a form of currency. This will lead to volatility.
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BTC is still in early adoption, and though large institutions are buying in, the largest players still haven't even dipped their toes. Once JPM, GS, Berkshire Hathaway all starting buying in with their huge portfolios, we'll see much more volatility and upward pressure. This doesn't even account for certain countries pegging their currency to BTC instead of USD. Or even for citizens of countries with less stable governments that all abandon their in-country currency for BTC as a hedge against corruption. Once this happens at a global scale, expect BTC to have much higher upward pressure, but also much more volatility as price manipulation becomes more rampant.
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HODLing is still the best strategy for the uninitiated. If you're a BTC true believer, then don't try to time the tops and bottoms. When crashed right before Thanksgiving, there were lots of posts here worrying that we were having another crash of 2017. That BTC had flown too close to the sun again. But BTC found a strong floor at 17000 and rallied back to a new ATH within two weeks. BTC is a long term strategy, and a multi-generational strategy. Don't think about BTC as a 6-month get rich quick scheme. Think about BTC over the course of 50 years, and what world governments and currency looks like in that future.
I think the most important thing I can stress here for any new comer is: expect volatility.
Anything that goes up 30% (from 18k --> 23k) in 1 week can come back down 30% in one week. Don't get stuck in the mentality that BTC will go up forever. In the long term, absolutely, but in the short term expect any buys you make to have volatility and immediately shake out.
So create a mental strategy for yourself:
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If you lump sum in at current prices, are you willing to accept that you could lose up to 80% of BTC value in the short term. Can you live with knowing if you were more patient you could have bought more BTC if you had just "waited" for the pull back? Will the pull back ever come?
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If you DCA in, and the price rockets up, are you mentally prepared to accept that you should have just lump summed in? Can you live with knowing that you should have had conviction on BTC? If you FOMO in and it pulls back, will you kick yourself for not sticking to your DCA strategy?
I'm a BTC believer, but I'm also a realist that understands the power and risks that come with a completely unregulated currency. And the biggest risk is price fluctuations in short term as major institutional money now is using BTC as a serious asset class.
[link] [comments]
Thursday, 17 December 2020
The Future of Cryptocurrency: Historical Context & Application
Introduction
This is a bit of a long post, and hopefully this type of discussion is welcomed here. When researching into the history of monetary policy a few months back, seeing the similarities between Ancient Rome and the United States today is what spurred my interest in cryptocurrency. Moreover, after looking into other historical events, you can see those same (or similar) problems as they exist today in our financial system. I hope others find these topics interesting and insightful, and most importantly, I hope they show why cryptocurrency has inherent value against fiscal and monetary policy incompetence. And below are the reasons why that within the last few months, I have moved a large amount of net worth into cryptocurrency, and why I am excited to see what this space has to offer.
Ancient Rome
There were many reasons for the downfall of the once-thriving Roman Empire, but there was one thing that tied many (arguably all) of these causes together: inflation. The following paragraph is a brief synopsis of the article titled Inflation and the Fall of the Roman Empire that was a transcript of the lecture given by Joseph R. Peden in 1984.
First, Peden notes that his "analysis is based on the premise that monetary policy cannot be studied, or understood, in isolation from the overall policies of the state. Monetary, fiscal, military, political, and economic issues are all very much intertwined. And they are all so intertwined because any state normally seeks to monopolize the supply of money within its own territory.” It is important to note the similarities between Ancient Rome and the United States, with our monetary policy being conducted by only [potentially] 12 individuals—10 as it stands today. Peden then affirms that monetary policy “always serves, even if it serves badly, the perceived needs of the rulers of the state. If it also happens to enhance the prosperity and progress of the masses of the people, that is a secondary benefit; but its first aim is to serve the needs of the rulers, not the ruled.” This is applicable in that the nomination process of the Board of Governors, that is the governing body of the Federal Reserve System, is first via nomination through the President, and then through confirmation of the U.S. Senate. Inherently then, the Board (and the other members of the FOMC) and the rulers (that is the State/government here) must have some type of relationship; I like to view the FOMC's decisions and policies as fiduciary - for the State - in nature.
Nonetheless, Peden begins by looking at the rulers of the Roman Empire. "To look at the mentality of the Roman emperors, we can look just at the advice that the Emperor Septimius Severus gave to his two sons, Caracalla and Geta … He said, 'live in harmony; enrich the troops; ignore everyone else' … as for enriching the troops, he took that so seriously to heart that his mother remonstrated with him and urged him to be more moderate and to restrain his increasing military expenditures and burdensome new taxes." Peden then describes the process by which not one but numerous emperors, to pay for their massive military expenditure, repeatedly debased the coinage. “The emperors simply abandoned, for all practical purposes, a silver coinage. By 268 there was only 0.5 percent silver in the denarius [this was down from 95% silver in 1st century BC].” “[B]etween 258 and 275 … Prices in this period rose in most parts of the empire by nearly 1,000 percent. The only people who were getting paid in gold were the barbarian troops hired by the emperors.”
It wasn’t until Constantine that Ancient Rome saw any meaningful coinage interference. This was by first issuing a tax on the estates of the senators, and then on the capital (not earnings) of merchants; as well as through the issuance of a new gold piece. After the effects of inflation, and an uncontrolled coinage as it related to silver, “the government, in order to try to protect its civil servants and its soldiers from the effects of inflation, began to demand payment of taxes in kind and in services rather than in coin. They wound up, in effect, repudiating their own issued coins, not accepting them for tax collection purposes.” As gold was steadily adopted, it became the “real money of the Roman empire,” but most of citizens could not afford the gold—which had already adjusted itself to the denarius (Roman silver coin).
Peden notes that “Rome had basically a laissez-faire concept of state/economy relations,” except in emergencies, which were usually war-related. Moreover, “under the pressure of this need to pay the troops and under the pressure of inflation, the liberty of the people began to be seriously eroded — and very rapidly … We could start with the class known as the decurions. This was your prosperous, small- and middle-landowning class who were the dominant elements of the cities of the Roman Empire … Building stadiums and bathhouses, and repairing the streets and providing for pure water were considered benefactions … [but] in the mid-3rd century, [they were] assigned the task of collecting the taxes in the municipality [after the central government could no longer do it effectively].” Future heirs, those whose parents were employed in certain occupations (artisanship for example), were required to perform the tasks of their parents; so that gradually all forms of economic liberty were erased. To end, a quote from the late Roman Emperor Diocletian (of which he excluded himself); “if the excesses perpetrated by persons of unlimited and frenzied avarice could be checked—if the general welfare could endure without harm this riotous license, if these uncontrolled madmen, the unscrupulous, the immoderate, the avaricious, could be persuaded to desist from plundering the wealth of all, then all would be well [that is, the greedy merchants who cause inflation, or the businessmen].”
Application
This is directly comparable to the United States’ 1) massive military expenditure; 2) the debasement of our coinage; and with 3) being potentially increased taxation / reduction of liberty in the future due to our fiscal and monetary incompetence and 4) being the resulting inflation or lack thereof.
As it stands today, 10 individuals implement monetary policy. And utilizing the Federal Reserve's month-end results from February 2020 to November 2020, M1 in circulation has increased by 64.8% (USD2572bn), and their total assets have increased by 59.7% (USD3057bn). The Federal Reserve, at one point in time, even started buying corporate bonds. This is absolutely insane. Meanwhile, gold's value depends on supply and demand, with the end-all supply ultimately being determined by supernova nucleosynthesis (the universe's form of monetary policy). Having a monopoly on the supply of money fosters inefficiency and wealth distribution, and might explain why inflation has remained relatively muted - in that money is not being supplied and distributed correctly. Low interest rates allow money to permeate every type of investment opportunity - and allow consumers to consume with relatively low costs; inflating asset prices nonetheless. This is extremely important because most of the developed world has been struggling with low interest rates. Europe since 2014, and Japan since 2016, et cetera. And if any central bank were to raise interest rates, especially now, unprofitable industry, and even perhaps some profitable industries, would go bust.
Solutions/Outcome(s) & Relationship with Cryptocurrency
I've heard two solutions about how we should improve economic conditions. First, people are turning to the government for answers. And any type of solution from them will require more money into our financial ecosystem - and is an implied burden on the taxpayer. Secondly, people are turning against business and industry, and wanting more regulation, higher taxation, et cetera. As a result, I believe in the next 10-20 years, there are two equally likely outcomes:
- The way in which monetary policy is currently implemented is not effective, and will not adjust accordingly in the future. Result: The coming displacement of our workforce due to technology will cause individuals to naturally turn to the entity who they perceive to act in their best interest (and populism will ensue). You can already see this happening with more and more people turning to the government for answers regardless of their political affiliation. In response, interventionist policies and/or increasing public-sector presence, which hamper entrepreneurship and require funding respectively, will accelerate wealth inequality and inflation; thereby devaluing the dollar. In this case, I would want to be holding various cryptocurrencies.
- The way in which monetary policy is currently implemented is actually effective (or is not currently, but will be adjusted accordingly in the future). Result: Cryptocurrency will boom in a thriving economy whereby it has real-life application and will develop alongside fiat. In this case, I would [also] want to be holding various cryptocurrencies.
Other
It is important to note that the Federal Reserve banks are privately owned (of which ownership is obviously carefully concealed), and that these are actually the conditions for the division of earnings within the reserve banks:
(a) Dividends And Surplus Funds Of Reserve Banks.
- Stockholder Dividends.
- Dividend Amount. After all necessary expenses of a Federal reserve bank have been paid or provided for, the stockholders of the bank shall be entitled to receive an annual dividend on paid-in capital stock of--
- in the case of a stockholder with total consolidated assets of more than $10,000,000,000, the smaller of-- 1) the rate equal to the high yield of the 10-year Treasury note auctioned at the last auction held prior to the payment of such dividend; and 2) 6 percent
- and in the case of a stockholder with total consolidated assets of $10,000,000,000 or less, 6 percent.
- [And these are the] Limitations On Surplus Funds.
- In General. The aggregate amount of the surplus funds of the Federal reserve banks may not exceed $6,825,000,000.
- Dividend Amount. After all necessary expenses of a Federal reserve bank have been paid or provided for, the stockholders of the bank shall be entitled to receive an annual dividend on paid-in capital stock of--
(Of which there is...)
(c) Exemption From Taxation.
- Federal reserve banks, including the capital stock and surplus therein, and the income derived therefrom shall be exempt from Federal, State, and local taxation, except taxes upon real estate.
GG fiat.
[link] [comments]
source https://www.reddit.com/r/btc/comments/ker4oq/the_future_of_cryptocurrency_historical_context/
BTC BREAKS $22,000 !!!!!
GOGOGOGOGO!
[link] [comments]
source https://www.reddit.com/r/btc/comments/keowkf/btc_breaks_22000/
NFT's with BCH
Anyone know of a website that trade NFT BCH items like opensea.io does with Ethereum?
[link] [comments]
source https://www.reddit.com/r/btc/comments/kenktc/nfts_with_bch/
Multibit Classic download?
Hey, I found an old Multibit.key file and I’m trying to figure out how to download Multibit classic to open it. I see it on GitHub but I can’t figure out what to do and all YouTube videos I can find is before they took the site down. Any ideas how to download Multibit classic to see if I can open the Key file?? Anything helps! Thanks!
[link] [comments]
source https://www.reddit.com/r/btc/comments/kenjj4/multibit_classic_download/
Never Send To Wrong Address again. Is this Possible?
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Is this possible in the crypto world? I have crazy ideas that would help tremendously... Imagine if there was a PING ME feature to be SURE of its destination. https://read.cash/@Crypto.guy/send-to-wrong-address-mistakes-be-solved-ping-me-f7514604 [link] [comments] |
source https://www.reddit.com/r/btc/comments/kejpvv/never_send_to_wrong_address_again_is_this_possible/
Wednesday, 16 December 2020
Reverse Rolex
Backed out of a Rolex Purchase and got BTC instead. They will probably blacklist me but whatever. HODL
[link] [comments]
HathorMM: wtf?
sooo, 3 or 4 empty blocks in a row is just the way it is now? one block an hour will actually process any transactions? how is this supposed to work?
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source https://www.reddit.com/r/btc/comments/ke41kw/hathormm_wtf/
Once I use a KYC exchange, am I pretty much screwed?
If a person uses a KYC exchange to buy Bitcoin, but then sends their Bitcoin off to the Samurai wallet and mixes their coins with CoinJoin, are these coins now private forever? Or will transactions made on decentralized exchanges with these coins always be traceable forever?
Once I use a KYC exchange, am I pretty much screwed? Or is there still a way to make these coins completely private?
[link] [comments]
source https://www.reddit.com/r/btc/comments/ke32gr/once_i_use_a_kyc_exchange_am_i_pretty_much_screwed/
I'm in!
Been lurking for a while but I finally pulled the trigger. Proud owner of .05039 bitcoin. I'm 46 and at this stage in my life I'm more excited to say I own Bitcoin than I am for the inevitable moonshot. Let's go!!!
[link] [comments]
It boggles my mind so many of us are cheering on traditional institutions buying unfathomable amounts of BTC, instead of being vigilant and wary.
There is simply too much greed and too little sense.
BTC survived 2017's attempted coup, but that will not be the last time they try. And next time, those attempting the coup will be much more sophisticated, with deeper pockets, a thorough understanding of BTC's protocol and its weaknesses, a paid army of programmers and private keys to large quantities of BTC, if not the majority of it. For all we know, someone somewhere already has a plan and is laying the groundwork for it. I say this because even though code and math cannot be bought, corrupted, imprisoned or executed, the people and institutions that write them can.
The closer we are to the moon, the more dangerous and treacherous the road gets. We need cautious optimism, rather than allowing our greed to lead us to blinding euphoria.
Which is more important; that we individually become wealthy, or that we collectively have BTC endure in this world?
More vigilance, less trust.
[link] [comments]
Magic: the Gathering Bitcoin-related alters
So, what's the crossover amount between crypto-enthusiasts and Magic players? Possibly a few more than "just me"? In case you fall into that overlap, check out these alters I created to give a Bitcoin flair to a few cards:
Make a Wish: Changes the coin being tossed into the well into BTC, and alters the flavor text to a more appropriate wish.
Conjured Currency: Poking a bit of fun at those who don't "get" what keeps bitcoins having value. Changes the coins in-hand to BTC, and alters the flavor text to a more relevant quote.
[link] [comments]
source https://www.reddit.com/r/btc/comments/kdviul/magic_the_gathering_bitcoinrelated_alters/
Hire Freelancers using BCH!
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Venezuela Workers is a website that uses Bitcoincash (BCH) through its platform as a payment method to hire Venezuelan freelancers. We are currently looking for employers interested in considering hiring Venezuelans for any type of digital work under a very inexpensive budget. Don't have BCH? Don’t sweat it. Venezuela Workers has sideshift integrated, that means that you can use your preferred cryptocurrency to make payments through our page safe and quickly Register following very simple steps, publish the work you need adjusted to your budget and with the help of a Venezuelan freelancer, successfully complete your work. Link: Venezuela Workers [link] [comments] |
source https://www.reddit.com/r/btc/comments/kdzli1/hire_freelancers_using_bch/
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