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submitted by /u/blockparty_sh [link] [comments] |
source https://www.reddit.com/r/btc/comments/n2blbu/bch_network_discussion_on_smart_bitcoin_cash/
Saturday, 1 May 2021
BCH Network Discussion on Smart Bitcoin Cash starting now
source https://www.reddit.com/r/btc/comments/n2blbu/bch_network_discussion_on_smart_bitcoin_cash/
Introducing Joystick.club — Pay to Play Games powered by Bitcoin Cash
Hello /r/btc
I'm excited to finally announce the project which we've been working on in our evenings and weekends. We're aiming to make this project our full time job with the help of the community.
🕹Introducing Joystick.club — Pay to Play Games powered by Bitcoin Cash
Joystick.club is your virtual local arcade, located between the world wide web and the public blockchain. No sticky floors, lack of ventilation, no neighbors peering over your shoulder, and no impatient queue laying quarters down on your game saying “I’m next”. This is arcade style game play, brought to the blockchain. Joystick.club accepts micro-payments and in turn, provides players with fun, pick up and play style games.
👾Leaderboards & Loyalty Points
Joystick.club allows gamers to compete for the top position of each games’ leaderboard. As this project develops, gamers will be eligible to earn and acquire JOY by playing games. By holding JOY tokens, you are a member of Joystick.club and are eligible for reward payments at the end of each month, based on the total revenue generated by users paying-and-playing our game. These rewards will be distributed entirely in Bitcoin Cash, encouraging more gamers to play, and the community to grow by naturally realizing that holding more JOY means holding a greater % of the revenue.
Why pay to play gaming?
Gaming is a multi-billion dollar industry. Through its humble beginnings from the 70s onwards, gamers have been spending their hard earned money to enjoy some fun. Much of the growth in video games originated from Arcades. Dark rooms, cramped with electronic machines ranging from Pac-man, space invaders, to run of the mill pinball machines. While gaming evolved to home gaming consoles, online gaming, and the trend to purchase the “whole game” became the new norm. The need for game ownership has been reduced thanks to increased internet bandwidth, competing free-to-play games (League, PubG, etc) and the freemium model we’ve seen in games in mobile app stores.
Translating spending quarters (0.25c) to online free-to-play games couldn’t scale with traditional permissioned-based payment processors. High fees, along with countless middlemen and regulatory bodies, national laws, and don’t forget international copyright, completely killed any possibility of letting users drop in some money and compete to be the best at casual, pick up and play games.
We believe that a second Golden Age of Arcade Videos Games is just around the corner. Thanks to low-fee cryptocurrency and permissionless payment networks, we’re ready to help introduce a new (but vintage) style of casual gaming to gamers around the world, and create the tools necessary for more game developers to join in on this retro-revolution.
☁️Why not use Ethereum or Bitcoin?
This project was originally created around the idea of building on Ethereum (ETH). Unfortunately, due to the rising fees, and the EVM’s inability to handle micro-transactions on layer1, we had to go elsewhere. Nobody is going to spend over $5 to play a 0.25c game. When choosing a cryptocurrency to build around, it’s critical to choose one that not only has the tools available to accomplish your goals (tokens, apis, wallets, web3.js inspired tooling), but also the network effect of users. Truthfully we did not even consider BTC because the fees are just through the roof. You can't build on Bitcoin. Certainly not for small transactions that require instant processing. Layer 2 with Lightning is overly complicated, has almost 0 adoption, and has huge user experience issues (see funding channels, settling).
Bitcoin Cash is one of the most popular cryptocurrencies, and is the only cryptocurrency that has been built from the ground up to focus on micro-transactions and for layer1 scalability. While it may get the stink-face from the most depressed maximalists, for those who have used it, it’s impossible to say it’s not useful. I strongly believe more ETH projects, including those participating and building defi will begin to migrate to BCH as fees continue to rise and prevent sustained growth on their projects as people are priced out from participating. This is doubly true with the introduction of EVM compatible sidechain SmartBCH — which we will be monitoring closely.
Our small team remains indifferent to coin politics, we simply want to see a project with micro-transactions and gaming succeed in global adoption. At the current moment, BCH stands to fill this niche fastest.
🛣Roadmap:
Phase 1 — Launch website supporting 3 games playable with BCH via Badger Wallet for Chrome and Firefox
Phase 2 — Mobile Wallet partnerships. We’re focusing on partnering with Bitcoin.com Wallet app to allow their users to begin to pay to game, and will be exploring additional wallet integrations with Pokket, Zapit, and other multi-coin wallets which support crypto enabled sites.
Phase 3— Flipstarter and private donations. Supporters earn early JOY.
Phase 4— Launch one more game with input from our Joystick.club Telegram. Release JOY token details
Phase 5— Play and earn JOY tokens on Bitcoin Cash’s SLP protocol. Complete integration to more Bitcoin Cash wallets.
Phase 6— Begin airdrops. 50% of revenue generated from gameplay to be distributed via Monthly dividends (airdrops) to our (has no value) JOY token and its holders.
Phase 7— Launch additional game(s).
Phase 8 — Hire additional contractors for in game art, tooling assistance, and begin development on open source Unity and/or Construct plugin, enabling more game developers to add BCH and SLP into new games.
Phase 9 — Release open source game on Unity or Construct which supports Bitcoin Cash and/or SLP tokens.
Phase 10 — Grow game library, bring more game developers into Bitcoin Cash. Build support for NFT in-game items/skins. Grow library from partnered games releasing on our platform.
👋Who is behind Joystick.club?
Due to the nature of this project and the legally uncertain stance in our local government involving both cryptocurrency, and the risks associated with starting a project like this which also contains a (no value) reward token, we will remain anonymous and go simply by our handles. You may have seen me on reddit or telegram.
Amalektricity — Runner up for Devcon.cash 2020 for my game Block Breakers, which showcased BCH pay to play games. I have been a passionate Bitcoin Cash enthusiast since 2018. With 4 years of game development experience and 5 years project management experience. I’ve worked in two different gaming startups, and currently freelance as a game developer. My hope is to secure enough funding for this project to drop freelance work and my time on this project.
PangilFreeman — Full time developer, specializing in web games. New to Bitcoin Cash but very passionate about disrupting the gaming industry, along with high fees from Apple, Google, and other payment platforms. Low fee, microtransactions in game have not been fully explored, and I hope to showcase to the game developer industry that we are able to change faster than you might think.
Non-managing contributors — We have several people from our contacts within the industry, including gaming, business, and payments, who have agreed to help contribute and support us in our mission. In addition to several well known community members who we hope to bring on as advisors.
❤️Help flipstart our project
Help Joystick.club secure funding to develop, launch, and maintain the first Bitcoin Cash powered mobile and desktop arcade, enabling micro-payments across pick up and play gaming. We're trying to raise 75 BCH which will be used to allow our team to drop our client work and focus our attention on this project. A portion of the funds will also be used for marketing campaigns, contracted design work for in game art, game licenses, contractors and hosting to support scaling the project up, and any unforeseen expenses. Both founders are based in an affordable Asian country which will allow the funds to go much further than they might in western countries.
We already have a working demo that supports Badger Wallet for Chrome and Firefox. Visit Joystick.club with badger wallet installed to try it out!
A big thank you to folks who shared code for us to build off of and those who gave feedback and help to our team since we started building. A big thank you to James Cramer from the SLP Foundation, JT from the SLP Foundation, Stoyan from the BCH Devs & Builders, Tom Zander of Bitcoin Unlimited, Vin Armani and the people behind Badger Wallet, The Bitcoin.com Wallet team for their Link API and assistance debugging, and an extra special thanks to Chris Troutner from Permissionless Software Foundation who both encouraged us in the Hackathon, and offered continued support long afterwards while we went through trial and error on getting this project to work well. If we are not able to secure enough funding for any reason, I would hope you will support Chris Troutner's projects.
Lastly, please subscribe to /r/PinoyProgrammer/ - I would love to see more Bitcoin Cash discussion happening there to introduce more people in our region to BCH.
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source https://www.reddit.com/r/btc/comments/n29paj/introducing_joystickclub_pay_to_play_games/
I made what I make in a day at work on crypto today! I also got paid time off! Double Win!
Today was a good day financially! I am so fortunate to be aware of our world at this time!
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People talk about the energy cost of cryptocurrencies like Bitcoin Cash. Now imagine eliminating the need to have physical cash security guards, armored trucks, gas, guns, ammo, etc. Using BCH makes all this obsolete.
"You bought in 2020? Wow, you got in so early!"
This is what a friend told me. I bought back at $9k in 2020 and at the time I was quite nervous and questioned if I was buying at the right time. I watched it go up to $12k and then drop down to $10k. At that time, it was stressful.
This post is for anyone who is questioning if they are getting in at the right time. In a few years, people will say, "You bought in 2021? Wow, you got in so early!"
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I didn't get in until 2013
And I got goxed as my initiation prize. =)
I don't often post in crypto subreddits because they're mostly stupid, toxic shills bickering with eachother. But I feel like a rant... just this once. I promise.
As someone that got involved in 2013 discussions, the excitement and imagination surrounding the community back then and has slowly watched the demise of /r/bitcoin since before it's authoritarian shill mods grew a spine and new ones came to power....
BCH is all I use now. If it became defunct any similar coin is what I would use. I still see what appealed to libertarian-ish folks at the beginning of this project, and the entire reason for bitcoin's creation.
BTC is now entirely incapable of what it was designed to do, and is essentially owned and operated by a handful of individuals (mining/security) and one dev corporation.
BTC is for speculation, and it has done very very well for myself and anyone that hodls. It has no use case other than speculation. It is less of a "store of value" than other fiat currencies, and only has value so long as folks think that /more/ people will buy in to it. This isn't a feeling, it isn't a guess. It's fact. Nobody is dumb enough to think it retains any value if people lose faith that new entrants will buy. That is the only remaining key to it's success.
And people are hoping that more folks buy in despite it not having any real use (as far as transactions, or a store of value relative to... precious metals/ammo/water/anything). A store of value is not something which has a value based entirely on speculation like tulips, and which other than mining hashpower can and has been improved upon in every way conceivable.
The ONLY thing that the remaining fork called bitcoin has going for it is hashpower. And that is dominated by a handful of players that could collude if they felt like it.
<3 cryptocurrency. Dislike shills, stupid "investors", and in general noobs who do not understand the tech and utility of a currency that people can actually use without being banked, with no corporate or govn't entities to ask permission from.
TL;DR
Cryptocurrency is amazing, Satoshi deserves a medal, I'm glad that there will always be a crypto that people can actually use, regardless of what it's ticker is.
Most of the people in this sub are cool. Some of you are just as bad as the remaining folks in the other sub. Either way, I'm glad this exists. PEICE.
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source https://www.reddit.com/r/btc/comments/n28i98/i_didnt_get_in_until_2013/
If i die with my Coins...
Id say every HODLer should give a copy of their seedkey + instructions to a VERY TRUSTED loved one. In case i ever pass away i want my mom to be living good. My kids to be living great one day (i dont have any yet)... Generational wealth is my personal goal. Ppl invest for different reasons tho. Thoughts? #btc
Do you think Giving your Seedkey to a Loved One is a bad Idea? I personally know what family members would never ever try to take my money and would strictly only use it in case of tragedy.
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Transferred Bitcoin to my own hardware wallet for the first time!
My first satoshis were owned on Robinhood, until the GME fiasco, I then removed all of my assets, including bitcoin from Robinhood and I've been using Blockfi for crypto. I recently bought a hardware wallet for some extra security and eventually Blockfi changes some of their terms made it worthwhile for me to withdraw some of my bitcoin to a hardware wallet, now stored in a safe place.
Every day I am more and more into this crypto world and especially bitcoin. For once I feel like I'm way ahead of the curve.
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PRICE ALERT: USD falling below 0.001 BCH.
Listen, I know some of my fellow dollar HODLers might be getting discouraged, but this could just be an opportunity to buy more dollars! We dollar fans should really think of this dip as a discount on USD. There is a lot of FUD trying to get us to sell our dollars for BCH right now, but we just need to remember the fundamentals. Yes it’s true that trillions of new USD tokens are being minted and distributed behind closed doors, but we’re still above our all-time low, and I think our all-time high from 1913 is right around the corner again. So let’s all just BUY THE DIP. USD TO THE MOON.
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source https://www.reddit.com/r/btc/comments/n2740l/price_alert_usd_falling_below_0001_bch/
Bitcoin-Lightning powered help for the Covid crisis in India
Help India fight the Covid emergency!
With the Covid-19 situation escalating in India faster than anyone expected, an unprecedented health crisis arises.
We decided to build covid.lastbit.io to help the crypto relief fund in India, with the mission to help them alleviate the Covid crisis in India by helping them get funds to provide healthcare and essentials to those suffering from the pandemic.
We built the site on top of the Bitcoin Lightning Network which means we enable anyone to donate anything starting from a few sats or cents. This wouldn’t be possible without this technology.
Help us help them. Every sat counts.
Let’s show the World what this community stands for!
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The same posts all the time
I am really really new to Bitcoin and crypto, but I do my own research and ask specific technical questions when I need to to understand things.
But jeez...the number of posts recently that ask questions like “should I invest in crypto now or is it just about to dip again?” Or “when is the right time to invest in bitcoin? Will it drop soon? Should I buy then?” I really despair.
I’m not like a protective fanboy that doesn’t want fake people to like their band, but honestly, the number of times these questions are asked I just feel like saying:
“If you don’t understand it, don’t get involved. It’s not a get rich quick scheme. It’s investment. It’s a belief in the technology and the implications of what that means. It is much bigger and deeper than buying APPL stock. There is no “time” to buy bitcoin, it’s a choice and a commitment you have to how we should structure our economic life. Or whatever, buy next Tuesday because it’s going to dip.” 🙄
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My realization that bitcoin is going to the moon.
I was talking to a co-worker and he was talking about how he just started to invest in crypto. He said if he ever made a bunch of money he would would then take it and put it in the stock market to make 10%. I know it's funny but he is younger than me and I'm young. Anyways I then said to him why would he put it at 10% when he would be getting way better returns with Bitcoin. At that moment I realized why I will never sale. That is the moment every one is going to have eventually. That is when we moon.
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Friday, 30 April 2021
Many people are waiting for Bitcoin to drop before buying. But remember, there will only ever be 21M BTC. There are 46M millionaires in the world, and 8 billion people. So far the best strategy with BTC has been to just buy it and wait. Some people like to dollar cost average buy purchasing a steady
idk about you guys, but I grew up in the ghetto. Knowing those I cared about & grew up around were destined to work until their dying day or end up in jail out of financial desperation causing them to steal or run a nefarious business kept me from ever being able to keep my mouth shut about Bitcoin
and cryptocurrencies in general. Instead, I spent the last 10 years telling and gifting Bitcoin to all those I cared about most. That one drug dealer-like trick has gotten everyone I cared about most on board in the last 10 years. So for those who are telling those they care about Bitcoin for the same reasons, I say speak on, gift on; otherwise, those at the bottom we were born with will stay at the bottom if we don't give them a little push.
For anyone asking how you can gift Satoshis to someone without a wallet, well for me I usually tell them to check their email for a Bitcoin gift I sent them. On Coinbase you can send it to someone's email. The owner of the email will receive an email letting them know they have some Bitcoin waiting for them. Once they open an account, whatever you sent them will be propagated on it.
If you know of any other options like this, please let me know in the comments and I'll edit them in.
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Vulnerability Found in BTC
People are always saying it would take hundreds of millions of dollars an hour to attack the network. In fact it could essentially be attacked by simply using it for what it was designed for.
Well, as it turns out the biggest vulnerability with Bitcoin Core is just using it. This is because the more you use it, the more you cannot use it... I mean transaction fees are already through the roof and lots of transactions are being dropped from the mem pool.
You can basically DoS attack it by submitting a couple dozen transactions... The blockchain basically performs a DDoS on itself just from regular use. How crazy is that?
I wonder if that can be submitted as a bug bounty?
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source https://www.reddit.com/r/btc/comments/n1mos2/vulnerability_found_in_btc/
How does chaintip work?
How does chaintip work? i just dowloaded the Bitcoin.com app and signed up. but how do i get the tip on my wallet? Im also new to Reddit, do i have to send my wallet to the bot on Reddit?
[link] [comments]
source https://www.reddit.com/r/btc/comments/n1m7om/how_does_chaintip_work/
Kraken just added ACH/Online Banking. No longer only wire transfers!
I received this email:
"As a Kraken client you can now instantly purchase up to $2,000 worth of crypto each week by using online banking. It takes less than a minute to set up. Here’s how:
To get started: Sign in and click on the Buy Crypto button on the top navigation menu Select online banking and choose your existing bank Enter your bank login credentials (username and password) That’s it! You will be validated immediately. Sign in and give it a try today."
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If you want someone to adopt Bitcoin, don't just tell them about it, gift them some. That gift will make them pay attention to the market, and eventually adopt
I've been in the game for 10 years now, and have tried every trick in the book to get those I care about get on board. The only way I've ever seen it work has been to gift them some. It may take a day, a week, a couple of years, but eventually, that gift will get their brains going running, some numbers on what they could've made had they invested more, and eventually studying the space. I see a lot of people here discouraging telling your friends and family about Bitcoin, but as someone who grew up in the ghettos seeing people who would be destined to work until their dying day if they didn't get taught about Bitcoin, I could not keep my mouth shut about it and let my friends and family stay on the path to serfdom(Debt Slavery). So I get all you who want those you care about to also hop on. People like me didn't grow up around others who would be okay in life since they had an inheritance to inherit. We grew up knowing the shit we grew up in, knowing most everyone we know would either work till they die, or end up in jail out of desperation to steal or run a nefarious business just to have any chance to escape the serfdom debt contracts we were born into needing if we ever wanted to get anywhere ahead in life. So unlike those warnings you hear to keep your mouths shut, I offer you advice on how to truly best help someone adopt. What you gift someone doesn't have to be a lot either. My most common gift is about 5 or 10 dollars worth of Bitcoin, and it's worked every time I've done it. Best of luck newcoiners. I hope everyone you care about most is convinced to adopt so they're not left wanting or needing in the future.
Edit: For those wanting to gift to someone without a crypto wallet; Coinbase is my go to. You can send Bitcoin or any crypto they offer to an email address, and the owner of that email address will get an email letting them know they received Bitcoin or any other cryptocurrency you might have sent through their platform. The receiver of the email will be able to open an account with the sent coins in their wallets. Hope this helps! If anyone knows of any other solutions like this, please let me know in the comments and I'll edit them in here.
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I read several articles on Bitcoin8m and still didn't realize it wasn't a hard fork. However, after reading this post, everything is clear. #Bitcoinblocksizematters
How is bitcoin8m created and why it won’t cause a hard fork
In this article we cover two main issues, which are the two most frequently raised concerns of those who are interested in the mission we are pursuing - freeing bitcoin from the current block size limit.
1. How bitcoin8m is created?
Bitcoin8m core is simply a modified version of bitcoin core to start accepting block of weight up to 8 times the regular MAX_BLOCK_WEIGHT (which is defined at 4000000) if 1000 consecutive blocks in the past show acceptance of big blocks. For every release of bitcoin core, we release a similar version with a different versioning convention that contains just the above tweak. For example, if version 0.21.0 is released for bitcoin core, we will release bitcoin8m core 8.21.0 which is identical with the exception of the above tweak. Bitcoin8m source code can be downloaded from https://github.com/bitcoin-8m/bitcoin. You can just replace the bitcoin core binary with bitcoin8m binary of compatible version and everything should continue to work as usual.
2. Will it cause a hard fork?
Bitcoin8m core is programmed based on version bits-based signalling technique to only start accepting large blocks only if big block support is signaled in 950 of the most recent 1000 consecutive blocks. So if a miner decides to mine the large block before the condition is reached, the block will be deemed invalid by both bitcoin8m nodes and bitcoin nodes, so no other miners will work on extending the chain containing the large block. The rest of the network will continue to work on the chain that does not include any large blocks. This should in effect prevent the network from hardfork.
3. What will happen to businesses that transact bitcoin?
Every non-mining node will need to switch to bitcoin8m or compatible binary so it will continue to accept blocks in case large blocks start to be produced. In case a business fails to switch to bitcoin8m node before the first large block appears, it will not see confirmed transactions on its end, and thus the business will experience a temporary disruption. The simple fix is to replace bitcoin core binary with the equivalent bitcoin8m binary and restart the service.
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source https://www.reddit.com/r/btc/comments/n1k9j2/i_read_several_articles_on_bitcoin8m_and_still/
Just bought the dip
Seeing some nice discount, so as the title suggest took great opportunity.
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coinbase's bug - cannot buy any crypto
Nothing shows up after click on the "Buy Bitcoin" button.
https://www.youtube.com/watch?v=KYbFAYM31p4
Is this a bug or they restricted me? Because I'm in Vietnam and crypto in here is somewhat restricted.
I send them a ticket a week ago, but no response.
Does anyone have the same issue?
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source https://www.reddit.com/r/btc/comments/n1iqt5/coinbases_bug_cannot_buy_any_crypto/
Sold 125 ounces of silver for BTC
I’m a silver and gold stacker and BTC sat stacker. Selling all the bullion for Bitcoin. In satoshi we trust.
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Thursday, 29 April 2021
Books on cryptocurrency
I know crypto is quite new, most financial advisors did not adopt it yet and the ones who are expert in the field are quite rare and will not share their knowlede.
However, I was wondering if there are good books on the topic, covering everything from the fundamentals to in-depth financial and macroeconomics analysis?
(I should post on the crypto sub but they have a minimum 500 comment karma requirement...)
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source https://www.reddit.com/r/btc/comments/n10hwh/books_on_cryptocurrency/
A Tesla Theory
So, when I first heard of Tesla selling 10% of their Bitcoin stake, I was conflicted and didn't know how to take it. This was even after seeing Elon's Twitter response stating that this was proof of liquidity.
I slept on it. I do my best thinking while sleeping. And I woke up without conflict in my mind. In fact I was quite excited (no, not in that way!).
Here's my theory:
Elon is a very, very smart man. In 2018, he negotiated with the board a compensation plan that included no salary but provided for the option to acquire Tesla shares based on a schedule that includes 12 tranche's that are unlocked based on Tesla's performance. Upon unlocking the final tranche, he would beneficially own (including shares he already owns) 28.3% of the outstanding TSLA shares (~$188Bbased on today's prices!).
Now Elon has basically met these requirements, the biggest goal was to get TSLA to a $650B market cap, and they're at $666B now. To unlock the remaining 6 tranches, he basically has to hodl their market cap above $650B for a period of time.
So let's say you are a smart Elon. You see power of Bitcoin in the face of the most fragile and manipulated economy to ever exist in the history of man... You see the growing competition in the electric vehicle space... You want to not only maintain your current market cap but smash it to the moon. You go to your board and tell them you want to convert a significant portion of their $20B war chest into Bitcoin. Now Elon wants to buy A LOT ("Are such large transactions even possible?"), but based on discussions, some goal posts are put into place (eerily similar to his compensation schedule). Their first purchase must be limited to $1.5B. It must hodl it's value over the length of a quarter AND must prove to be liquid in case TSLA needs the cash.
These goal posts have been met. Perhaps there's a few more that we're not aware of... But if the theory hodls true, meeting those goals will lead to LARGE future purchases of Bitcoin to add to their treasury....
But this is just my humble theory and your thoughts appreciated!
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Hardware wallet transaction
I’d like to know when you send cryptocurrencies to a hardware wallet if you need the wallet connected to the computer until the transaction is done or you just need the address and not having the hardware wallet conected all the time.
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source https://www.reddit.com/r/btc/comments/n0x43j/hardware_wallet_transaction/
I think I already know the answer that I do not want to know
Pretty certain I do NOT want to know the answer to this.
Today sent 60 some odd BCH to BTC Segwit address on coinbase exchange, from my Ledger Nano S (Dont ask!) - Am i hooped? Is this something a BCH miner can recover?
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source https://www.reddit.com/r/btc/comments/n0ytqc/i_think_i_already_know_the_answer_that_i_do_not/
How market cap works, and the reason Bitcoin will DOUBLE in price overnight. (HODL)
Earlier today I read Lyn Alden's article about how market caps and the price of an asset is set: (https://www.lynalden.com/market-capitalization/)
The tl;dr for the article, is that for a one trillion dollar asset to go to two trillion dollars, and by extension DOUBLE in price, an additional one trillion dollars of fiat does not need to flow in. It is possible that only 10B of fiat could flow in, and the price and market cap of Bitcoin could potentially double. The only thing that matters is the price that people are willing to sell, and the price which people are willing to buy.
What is going to take us to $100k+ in 2020 is likely to be a sharp move upwards, instead of a slow crawl like we have been experiencing.
How you might ask?
Suppose a traditional mega-corporation like Wal-Mart, a sovereign wealth fund, or a central bank in came out and announced that they now had a Bitcoin position. Almost immediately we would see a massive price appreciation which could be upwards of 100%.
Why is this? Well, within a few hours of the news, HODLers, would be instantly validated, feel like the Bitcoin prophecy is coming true, and would be unwilling to sell my own bitcoin for anything less than $100k/coin.
Meanwhile, buyers, sensing that they are late to the party, and also feeling safer about taking a larger position now that X has purchased, would start to fomo in, and the notion they held just hours before of "$50k is too expensive" would be replaced by "$100K is a good price!"
I know this sub talks about it alot, but you can view this as another reason why it is critically important to HODL your Bitcoin, and not trade in and out of it. The price appreciation will come sharply, and seemingly out of nowhere. You do not want to be in the middle of trading shitcoins when this white swan event inevitably happens.
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What happened? Bought $50 of BCH on BitPay and got like $37.5?
I thought BCH had low fees? Did BitPay charge me? I didn’t see a ‘your fees will be...’ section. Did the crypto company Simplex charge me? Yikes... did I fuck up somewhere? Sigh.
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source https://www.reddit.com/r/btc/comments/n0xjaf/what_happened_bought_50_of_bch_on_bitpay_and_got/
Introduced a friend to BCH. (And the brand name damage that BTC Core has done.)
This was an enlightening (but ”slightly” sobering) experience for me the other day:
A friend of mine here in Canada was lamenting how much it was costing her in Western Union fees & bank transfer fees to send money back to her disabled & unemployed mother in Europe.
But it wasn’t just the fees — it was also the monthly restrictions on how much money she could send! Her bank had flagged her as some sort of a criminal for continually sending money back to Europe, so she could only send something ridiculously low like $1,000 per month back home. Similar restrictions (but slightly higher limits) from Western Union for a repeat customer.
The big red flag, apparently, is that much of her income is in cash from her tips as a bartender. Her bank and Western Union loathe that she’s paying in cash, because that apparently means “criminal”. These fucking governments, man.
I took it as the perfect opportunity to introduce her to BCH!
So I had her download the Bitcoin.com wallet, and I sent her some BCH, and she was blown away at what happened before her eyes!! I told her that she could just instantly send that money to her mom, and then another family member could help her mom convert it to cash.
Her first question was: “How come nobody ever told me about this?” (She’s a new friend, or else she would’ve heard about it from me a long time ago! ;)
Her 2nd question was: “Where can I convert my cash to Bitcoin Cash on my end, and convert it the other way around on my mom’s end?” I told her about local.bitcoin.com.
Her 3rd question was: “Where can I spend this?” She was disappointed to learn that the answer was essentially nowhere at the moment, but that she could try to get her favorite merchants to accept it.
But then, after about 60 minutes of playing around with BCH, she asked her 5th & final question:
“This is really cool. Now how can I do this with the REAL Bitcoin?” 🤦🏻♂️
This is the damage that Core has done to our P2P currency by forcing us to change our name.
She was brand new to crypto, but she’s heard the word Bitcoin enough to think that that’s the “real” bitcoin, and this is something completely different.
This is the perception that we’re fighting against. This is the Corean damage that we’re fighting against.
Of course, I told her everything she needed to know about BTC vs. BCH, but it was heartbreaking for me. 😢
On an unrelated note, we tried to do that fun experiment where we pass $1 back and forth to each other very quickly, but there were lengthy delays. I’m assuming that it’s because the previous transaction hadn’t confirmed yet? On the sending side, it appeared like it had sent successfully, but it took 5-10 minutes for anything to show up on the receiving side. Is this because technically we’re not allowed to send coins until they’re confirmed?
She was still extremely impressed nonetheless!
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source https://www.reddit.com/r/btc/comments/n0whbu/introduced_a_friend_to_bch_and_the_brand_name/
If you had the money would you buy a full bitcoin today?
Like the title says,
If you had the cash in the bank right now would you stick it all in bitcoin, or would you split it up between bitcoin and a traditional IRA?
Why or Why not?
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What whale just shot the price up?
just happened, from around 54k to over 56 in a single candle.
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Feature request for bitcoin.com wallet
The bitcoin.com wallet lets us hide our balance on most screens, which is great!
However, on the “Send” screen, it always shows our balance. This makes us wary of making YouTube videos that show us sending money to people (we have to go back and try to blur out the balance in editing), but it also makes us wary of sending money in a group of people while training them how to send BCH.
It would be great if the balance could be hidden on the send screen as well.
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source https://www.reddit.com/r/btc/comments/n0w5f1/feature_request_for_bitcoincom_wallet/
Scammed over $100 from Voyager Crypto Exchange
I was one of the early adopters of Voyager the newest of the crypto brokers (Voyager Digital, LLC) when it was barely a new app and signed up on their wait-list to participate once the app was released and decided to support them. About a month ago I decided to invest about $100 in a new up and coming alt coin called Ocean (BOTS) on their platform. Out of the blue one day, I get this message from Voyager saying this, “Our recent review of your account has uncovered activity which doesn’t meet our requirements and has a level of risk which we deem unacceptable. As a result, we are no longer able to offer you an account on our platform and your current account has been deactivated and closed. Our decision is final and there is no remediation available to you for reconsideration at this time.” Dated Tuesday, April 6th, 2021
I was completely dumbfounded, shocked and appalled at this letter obviously. I have zero idea what they are talking or referring about. Maybe/Apparently, I might have been hacked? The problem is, they have cut off communication 100% from me and will not respond to a single letter I write them. On top of that, they have FLAT OUT STOLEN my money I have invested in their app.
I am past the point of begging them and giving them the benefit of the doubt as it has been weeeeks now of zero communication from them. I plan on spreading the word to stay as far away from these outright SCAM ARTISTS and THIEVES as many places as I can.
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source https://www.reddit.com/r/btc/comments/n0v12r/scammed_over_100_from_voyager_crypto_exchange/
Hacking challenge with a 1.7M satoshi reward
I'm working to develop an algorithmic code methodology which will be "easy" to code and arbitrarily difficult to hack.
My ultimate goal is to provide a framework to create smart contracts without a need for anything like the Ethereum blockchain.
In order to test this I provide hacking challenges with BTC private keys embedded in hackable lock boxes.
My latest challenge is labeled 4.0 and you can find all the details here:
---------- Update -----------
Ethereum provides a hack proof way to run algorithms at great cost.
The algos running on the Ethereum blockchain are hack proof because they are independently verified by nodes on the network.
It is thought to be impossible to create actual hack proof code. That's why you need something like Ethereum.
However, I have a software methodology whereby it becomes VERY hard to run algorithm code in the WRONG way. That's the nature of hacking an algorithm.
It is not necessary to make an algorithm absolutely impervious to hacking, merely to make it so expensive to hack that the value which the algorithm represents or protects is safe.
Reports on many past challenges are available at this website as well.
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This small Caribbean paradise is set to be home to the world's first fully Bitcoin-enabled community
Just over 18 square kilometres in size, the paradise island of Bequia (pronounced ‘Bekway’) is off-grid when it comes to most visitors to the Caribbean, except for celebrities and the odd member of the British royal family.
But attention is set to be firmly focused on the second-largest island of the Grenadines archipelago as it becomes home to the world's first fully Bitcoin-enabled community.
The One Bequia development, where 39 luxury villas are set to be built, will be the first of its kind in the Caribbean to accept Bitcoin as payment for the properties.
Bitcoin will also be accepted as payment for everyday essentials at the development's grocery store as well as at its restaurant, café, and cinema.
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Capote Grosso Kiosco accepts BCH in Argentina
Capote Grosso Kiosco accepts #BitcoinCash in Argentina! Now you can buy in this smoke shop and convenience store, using #BCH as a payment method. Address: Malabia 811, C1414 DLQ, Buenos Aires Business number: 27
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source https://www.reddit.com/r/btc/comments/n0s373/capote_grosso_kiosco_accepts_bch_in_argentina/
Wednesday, 28 April 2021
"I'm not willing to pay $60+ in gas fees just to register on OpenSea... I've decided to explore the BitcoinCash NFT space instead of ETH because of the fee costs. "
Tesla Selling Bitcoin is Actually Bullish AF
A ton of people in the chat were losing their minds yesterday and the whole chat went from talk of hard, immutable, decentralized, trustless, non inflatable, peer to peer money to "oh mr rich billionaire please buy back your bitcoin" as if we need the elite to buy bitcoin in order for bitcoin to be successful. When in reality the elites just saw why they need to buy bitcoin in order for their own businesses to be successful. So in this post I'm telling you guys why Tesla selling their bitcoin actually just made a bunch of CEOs and high net worth individuals realize that they need bitcoin and why this is actually really bullish.
So Tesla sold 10% of their bitcoin and this is actually a good thing because the reason they bought it in the first place was to be a store of value as opposed to the usual parking place for corporations money which is treasury and corporate bonds. This is one of the first steps of many on the road to bitcoin disrupting bonds. We're talking about a market that is upwards of 100 plus trillions of dollars in market cap. A market that Tesla just displayed is out of date.
Tesla needed a place to park cash and instead of parking it in bonds even though it was fairly short term they still had capitol appreciation. First of all because we're in the middle of a bull run and supply shock but the government has also printed money since then so in addition to them getting money out of the fiat system and dodging inflation it also helped that there's a large wave of adoption right now. But the most important point Tesla proved is just how liquid this market is on a public stage.
Even though bitcoin only has a 1 trillion dollar market cap they were able to move 1.5 billion in and a few months later move a couple hundred million out just like nothing ever changed. If they never announced they were buying or selling in the first place we wouldn't have even noticed a whale was in the market. This demonstration proves the legitimacy of this market and just how liquid it is to other companies as well as big hedge funds, pension funds and even governments. They just proved a 1 trillion dollar market isn't too small to get into contrasting what many big funds and deep pockets otherwise thought.
Not that we need the big guys and elites because bitcoin has worked just fine for over a decade now and it'll keep working just fine for many decades to come. But many deep pockets have known that they need to be in this market for years now and they were just shown that the time to enter has come. Even though we'll be fine without the elites I don't think any of us mind a bunch of money flowing in and pumping our bags as they all desperately try to get exposure after we've front ran them for years.
Another bullish part of this whole thing is that on Twitter we had "Dave Day Trader" come in and say "So am I understanding this correctly? elonmusk buys bitcoin. Then he pumps it. It goes up. Then he dumps it and make a fortune. Listen I own 1 bitcoin but bitcoin is exactly who we thought it was. Just don’t be last 1 HODLing the bag." Which is already super misleading because Tesla didn't even sell all their bitcoin, they sold 10 percent. They even noted they still believe in bitcoin long term. They bought bitcoin to store money so it wouldn't get devalued from inflation and decided to use it later on. Meanwhile its value had actually increased because it was safe from the devaluation of inflationary fiat. If this isn't bullish idk what is. Tesla literally just proved the whole purpose of bitcoin to other corporations for hundreds of millions of people to see and you know Apple, Amazon and Facebook are now asking themselves "why are we still buying treasuries when we can buy bitcoin and have it increase in value to inverse inflation and even collect yield on it from lending it out?" Not to mention that if your company buys bitcoin and then you tweet that you bought bitcoin you'll literally boost the adoption and have a nice little buffer and margin of safety cause the price would go up a few percent.
But the reason I bring up that tweet is because of Elon's reply. "No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet." So not only did he announce he personally holds bitcoin which is new news that I don't believe we knew. But honestly who is surprised that one of the founders of PayPal holds bitcoin..
But he states that they did that to prove that bitcoin is and alternative to holding cash so they're probably using their cash from the proceeds to fuel future expansion just like any other company normally would but instead of buying negative real yielding bonds they bought bitcoin and actually ended up with more appreciation than they would've if they bought bonds and not to mention that even after the announcement that they sold some bitcoin the price of bitcoin is still in tact further proving this markets legitimacy. The market is still volatile for sure but this just proves that over time bitcoin is a viable place to store value.
Like I said, I know we already knew this fact for years and we don't need billionaires coming in and speaking on our behalf but nonetheless the elites and billionaires adopting it is just a normal part of bitcoin's adoption. If anyone just does the slightest shred of research they would see that this market is very liquid and billions and billions of dollars worth of bitcoin are traded daily but its important that it was on display for the rest of these corporations to see that this is a better option than bonds and you actually can move in and out of this market with ease and get a better return than bonds.
So to the people who were freaking out on in the chat yesterday, this is bullish. This proves to other CEOs and probably hedge funds and pensions and governments and any other deep pockets that yes... this is a viable option and this only furthers the adoption of bitcoin this was a demonstration to trillions and trillions of dollars that hey this asset is just fine. We already knew bitcoin was a good use for of store of value but if and deep pockets had their doubts, they don't anymore. This is even more reason to believe we'll see more and more institutional adoption.
TLDR So yeah I just wanted to make this post because a bunch of people were freaking out and I'm sure some new guys out there sold their bitcoin because of this. You just gotta look at the bigger picture here and the implications of this stuff. People like Michael Saylor and Elon Musk are out here showing deep pockets that it's all good and they can "come on in the water is fine" and not only is the water fine but the water is actually better. Because you cant print away our purchasing power over here because the more they print the higher our bitcoin goes. That's what this all boils down to. The money printer go brrr and scarce assets go up and this was all just demonstrated to companies with trillions of dollars of negative real yield. This is actually huge. Anyway I could talk about this stuff forever. I'm all fired up now. Y'all have a good one and keep stacking.
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