submitted by /u/nvdp12
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Saturday, 25 September 2021
How to react to China’s ban on Crypto: wait for American corporations to wake up and sell off, buy the dip, go back to sleep and HODL 🚀🚀🚀
Look at how little the Chinese sell off affected the price of Bitcoin. This is the revolution, there is no stopping it.
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Think about this: Twitter has 350 million monthly active users, and they can all send BTC to each other.
After a whole day to let the news sink in, this is still pretty HUGE in my mind.
Millions upon millions of people can now engage in legacy-system-free monetary exchange.
WTF is next. Makes me wonder....
Come on Apple Pay!!!
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Will BTC Ever Stop Defining Market Movements?
Hello everyone. Everyone remembers what happened in 18 year. Then the cryptocurrency really kept only on BTC and ETH. But now a lot has changed. A huge number of crypto areas have appeared, such as DeFi, NFT, Blockchain gaming and others. The market is full of top offers, but for some reason, BTC still determines the market price. When Btc falls, the entire market is corrected, and ecosystems like Near Protocol or Solana most often grow only with positive BTC daily readings.
What do you think about this? Why, after fixing BTC, people still fix their money in projects such as Near, Solana or Matic, because their ecosystems, by and large, can exist completely apart
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source https://www.reddit.com/r/btc/comments/puq18k/will_btc_ever_stop_defining_market_movements/
It's Fusion Friday!
CashFusion helps keep your transactions private. Your finances are your business, and no one else's!
Over 6 Million Bitcoin Cash has already been made private using this innovative, non-custodial mixing protocol.
https://fusionstats.redteam.cash/
You can "Fuse" all week for a few cents in fees if you want. This post is just a weekly reminder.
New to CashFusion? No problem, getting set up is pretty easy =)
First, download the Electron Cash desktop wallet. It's got CashFusion built in.
Set up your wallet, send it some Bitcoin Cash, and then activate CashFusion by clicking the icon in the lower right: https://i.imgur.com/DXEPLtf.png
Once it's activated, your wallet will start "fusing" the Bitcoin Cash it contains. That is, it will start mixing your coins with other CashFusion users. This happens automatically in the background once CashFusion is enabled.
"Fusions" happen over time as their own transactions, only costing you the network transactions fees. (Usually less than a US cent.) Each fusion transaction will include some of your coins*, so it will often take multiple fusion transactions before all the coins in your wallet are fused. Check "spend only fused coins" on the send tab if you want Electron Cash to prevent you from sending funds that haven't been made private yet.
Electron Cash can keep fusing your coins forever, or it can aim for a certain number of fusions for each of your coins. Toggle this setting and choose the target number of fusions by right clicking the Fusion icon and then choosing "CashFusion Wallet Settings".
Here's the CashFusion Telegram group where you are welcome to ask questions. (Just remember to be courteous!)
Happy Fusing!! <3
*"Coins" are kind of a confusing concept when it comes to Bitcoin, but you can think of them just like discrete "bills" (or... "coins") in your wallet, but instead of coming in only certain sizes like $1, $5, $10, $20, etc, they can be any amount sent to you in a previous transaction, like 0.618 BCH, 0.000001 BCH, or 123.45679 BCH. (They can also be combined and split up. That happens in most transactions!)
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source https://www.reddit.com/r/btc/comments/pur0w5/its_fusion_friday/
Wow, the China ban didn't even happen today. It happened over a week ago. I guess China has banned crypto so many times that people just aren't really paying close attention to what they say anymore. https://twitter.com/bigmagicdao/status/1441333309796077570
Friday, 24 September 2021
Earn $50 in BCH by helping us with Electron Cash mobile wallet UI/UX research
Hi all, working with Jonald at the Electron Cash team and Cameren, a super helpful BCH UI/UX guy, we are doing some usability research on the Electron Cash mobile wallets for Android and iOS.
The goal is to improve the polish of the EC mobile wallets so they can be more widely adopted, as they are the leading FOSS mobile wallets for BCH.
We need your help. We’re looking for 10 people to help us with this research. Perform the activity described below to completion and perfection and you will be eligible to receive a BCH tip. The first 10 unique individuals to do this will receive $50 in BCH. Additional submissions beyond 10 may also get tipped but the tip and amount will be at my discretion.
If I have any doubts that your submission is not unique, it will simply not get tipped.
Help us defray the cost of this research with a chaintip. If we get more than $500 in chaintips, we will do more research. Thanks!
Activity Description
Please download a mobile (not desktop) Electron Cash wallet, screen-record yourself performing the tasks and then fill out the survey.
Deadline: Thu 30 Sep 2021
A. Tasks:
Be sure to screen record your performance of these tasks. Bonus points if you also record your voice (English only) and narrate your experiences and reactions as you perform these tasks. Feel free to be critical.
- download the wallet (mobile only) https://electroncash.org/
- create a new wallet
- receive a payment (from any wallet)
- send a payment (to any wallet)
- find the recovery phrase
B. Survey:
To complete the survey, please upload your screen recording of your tasks to YouTube, Streamable.com, Dropbox, iCloud or some other video host that gives you a public URL to your video.
Fill out the survey here: https://forms.gle/XfNSqHFubaFfwPQd8
Payment
If your submission meets the criteria to be paid for your help with this research, we will pay it to the BCH address listed in the survey at our earliest convenience. This could take 1-3 weeks to fully process. Thanks in advance for your patience.
Support
If you have questions, please ask in the r/btc thread. We are happy to assist you.
And let's keep building Bitcoin Cash!
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source https://www.reddit.com/r/btc/comments/pu1pel/earn_50_in_bch_by_helping_us_with_electron_cash/
“ So Twitter is adding NFT ownership verification...for NFTs...on Ethereum... ...But Jack is still a BTC-only maxi, to the point that he wants people to use a third-party custodial app to facilitate BTC tipping on Twitter rather than a non-custodial tech?”
![Greyp Bikes now accepts Bitcoin Cash! [E-Bikes]](https://external-preview.redd.it/q6o-k0XMEvuCkR4vNOWH_7Ij_acTKxlNSUBBDyvOouY.jpg?width=640&crop=smart&auto=webp&s=1f15b8d77f859c0a813599617f6001bef091b4fd "Greyp Bikes now accepts Bitcoin Cash! [E-Bikes]")
Whats not to like about Bitcoin Cash (BCH). Mark these words. Bitcoin Cash is the most "sane" version of "Bitcoin" on the planet - it follows the "Bitcoin" design most closely and has the sanest roadmap. If you like "Bitcoin", it would be a mistake to ignore Bitcoin Cash (BCH).
Yes. The field has dozens of cool coins with cool capabilities. Most seem to be non-POW. Most seem to be geared towards "smart" capabilities instead of focused on P2P payment. And none are as close to the original Bitcoin in design as Bitcoin Cash.
In this sense, Bitcoin Cash is rather unique. In the POW coins based on the "Bitcoin" design - the field is much less crowded.
I don't believe any coin focused on smart-contracts will be able to scale globally. but I also believe the final form of a global currency may not be a single currency but a network of them - so we'll see.
However, ignore Bitcoin Cash (BCH) at your own peril.
The full capabilities of Bitcoin as designed in the Bitcoin whitepaper - and low-fees as Satoshi intended for their design. Whats not to like?
If Satoshi wanted a "store of value" they would have come up with a design that doesn't just burn electricity if everyone is sitting on their "gold". Does gold burn any funds just sitting at the bottom of the ocean? Bitcoin does. I really dont' think a store of value should burn through $20M of electricity a day.
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source https://www.reddit.com/r/btc/comments/pu18tp/whats_not_to_like_about_bitcoin_cash_bch_mark/
Given the surge of trolls in this subreddit lately, here is some history information about Bitcoin Cash for newcomers.
For any newbies coming here wondering why there is so much trolling against Bitcoin Cash, including anti-BCH propaganda and lies, I would like to spread awareness about this issue.
Bitcoin Cash, the peer to peer electronic cash system, shifts the dynamics of power from the elites back to the people. This is a threat to the survivability of the banks and regimes seeking to control the masses through the financial system. And there are many direct and indirect evidence (outlined below) of such bad actors trying to sabotage the peer to peer cash revolution through various means. We need your help to stand up against such saboteurs. Unity is our strength and we should make a righteous stand against the toxic bullies and shifts the power from the elites back into the people hands. Just by speaking up and spreading awareness on this, and refusing to stay silent about it, you’re making a difference, and for that, I thank you.
This is going to be a very long post, please bear with me. And it’s a very long post precisely because the bad actors had tried so many different things to sabotage the peer to peer cash project throughout the years.
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For people who are new, please note that this is what Bitcoin Cash is up against. Someone has been constantly funding propaganda and sockpuppets and misinformation campaigns against Bitcoin Cash everyday for the whole of the last 5 years. Source: https://np.reddit.com/r/btc/comments/ejl25s/rbtc_is_being_targeted_and_attacked_yet_again/
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There is consistent trolls/harassments/smear campaigns against Bitcoin Cash the last 5 years. Who is funding all these propaganda campaigns? Apparently, one of the accounts funding it is a “Golden Employer” with over 100,000 tasks paid. That’s a really big number even if you spread it over 10 years. Source: https://i.imgur.com/094kqV7.png
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Using social media agencies to astroturf professionally. Source: https://old.reddit.com/r/btc/comments/9cm3nj/psa_the_sub_has_been_under_attack_by_various_bad/
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Bitcoin Core has a group of dedicated toxic troll army called Dragon's Den. Source: https://archive.is/fJ5iF
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Trolls impersonating other subreddit posters, and how to combat them. Source: https://np.reddit.com/r/btc/comments/8c6u38/trolls_impersonating_other_subreddit_posters_and/
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In 2013, Peter Todd was paid off by a government intelligence agent to create RBF, create a propaganda video, and cripple the BTC code. Source: https://steemit.com/bitcoin/@adambalm/in-2013-peter-todd-was-paid-off-by-a-government-intelligence-agent-to-create-rbf-create-a-propaganda-video-and-cripple-the-btc
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Hiring national spies to run intelligence on the Bitcoin community. Source: https://news.bitcoin.com/why-is-blockstream-working-with-national-spies-sigint-humint/
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Blockstream kicking Gavin, the lead Bitcoin developer, out of Bitcoin development, successfully hijacked control over the Bitcoin github. Source: https://np.reddit.com/r/btc/comments/7avxoq/why_was_gavin_booted_from_core/dpdebjx/
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Mike Hearn and Gavin wanted to prevent Bitcoin from being hijacked, so they created a fork. That fork didn't survived after they were heavily DDOS. Mike Hearn was heavily character assassinated by what I believe to be orchestrated paid campaigns by Blockstream. And of course, now that Mike Hearn is gone, the character assassination campaigns are directed at Bitcoin Cash main supporters like Roger Ver. Source: https://np.reddit.com/r/Bitcoincash/comments/8lozww/how_bitcoin_btc_was_hijacked_and_why_bitcoin_cash/
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Blockstream not honoring the Hong Kong agreement they signed. Source: https://medium.com/@bitcoinroundtable/bitcoin-roundtable-consensus-266d475a61ff
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Blockstream doesn't want Bitcoin to compete with the banks. Their aim is to make Bitcoin unusable with no long term future. Source: https://www.trustnodes.com/2017/12/22/gregory-maxwell-celebrates-high-fees-300000-stuck-transactions
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Samson Mow admitting in an interview that Blockstream is out for profit (in other words, the BTC holders will be milked as their cash cows, BTC miners will be driven out with Lightning Network taking its place) Source: https://www.youtube.com/watch?v=cFOmUm-_DMQ
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The false flag attacks where they claimed Bitcoin Cash was hacking them (but turns out Greg Maxwell was the ones doing it) Source: https://www.trustnodes.com/2017/11/22/reddit-bitcoin-mods-gregory-maxwell-accused-false-flag-bot-attack-hacking)
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Hackers targeting Bitcoin Cash users stealing their tippr funds and taking over their reddit accounts. Source: https://np.reddit.com/r/tippr/comments/7naogq/tippr_on_reddit_disabled_temporarily/
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Misinformation campaigns (BTC people registering fraud sites and subreddits, then trying to associate Bitcoin Cash with the fraudulent alias to forums/websites they control) Source: https://archive.is/Zb4Xl
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Censorship to brainwash newcomers with Bitcoin misinformation and propaganda. Source: https://medium.com/@johnblocke/a-brief-and-incomplete-history-of-censorship-in-r-bitcoin-c85a290fe43
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Blockstream declaring that Bitcoin is not for the poor. Source: https://np.reddit.com/r/btc/comments/ahzog2/reminder_bitcoin_isnt_for_people_that_live_on/
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Blockstream sabotaged Bitcoin codes by reducing its functionality such as OP Return size reduction, RBF vulnerability, 1MB blocksize, etc... so that it breaks software built on top of Bitcoin.
Source (OP Return Reduction): https://np.reddit.com/r/btc/comments/80ycim/a_few_months_after_the_counterparty_developers/
Source (Bitcoin RBF Vulnerability): https://www.ccn.com/bitcoin-atm-double-spenders-police-need-help-identifying-four-criminals/
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Blockstream and Bitcoin Core people harassing and making death/rape threats to Bitcoin Cash supporters. One of them is Paul and his family. Source: https://i.redd.it/iq2oz671gm341.png
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Unethical people such as pedophile Jeffrey Epstein loves Bitcoin Core and invested in them. It makes sense consider toxic BTC maximalists loves to stick together. Bird of a feather flock together. Source: https://sg.news.yahoo.com/jeffrey-epstein-bitcoin-intrigue-deserves-080028939.html Source: https://coinspice.io/news/billionaire-jeffrey-epstein-btc-maximalist-bitcoin-is-a-store-of-value-not-a-currency/
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Bitcoin, a cryptocurrency that is about censorship resistance, is run by a group of people actively using censorship to silence the voice of others. They are hypocrites. Source: https://medium.com/@johnblocke/a-brief-and-incomplete-history-of-censorship-in-r-bitcoin-c85a290fe43 Source: https://twitter.com/CollinEnstad/status/1211371811495120896
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There have been Government Sponsored attacks against Bitcoin Cash companies. Source: https://www.newsbtc.com/2019/03/04/roger-vers-bitcoin-com-is-reportedly-under-government-sponsored-attack/
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Personally, I was involved in some Bitcoin Cash projects and there had been multiple DDOS attacks and other stuff, such as flooding my inbox with few hundred thousand emails per day. I'm sure those activities are not for profit, so why are they doing it?
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Here's a survey which reveal what most people already knew, that BTC had been compromised already. Link: https://np.reddit.com/r/btc/comments/e61fyz/poll_results_are_in_53_2296_votes_have_declared/f9n5lma/
The global banking elites control over trillion dollars in assets. They can afford to throw few million dollars each day to protect their massive business empires. If I were them, I would make the same choice. It’s a no brainer. They don’t have to win; each day they sabotage the adoption of peer to peer cash, their trillion dollars empire survive another day while the rest of the population suffers.
There are actually plenty more nasty unethical things BTC bullies had done which is not covered here. Bitcoin Cash is an attempt to rescue what the bad actors had hijacked successfully, mainly the peer to peer cash revolution. And it won't be the last time the bad actors will try to find ways to sabotage this project.
And we need your help. Bitcoin Cash does not care if you are black, white, Asian, male, female, American, Iranian, Chinese… We are all about bringing economic freedom and financial sovereignty to the world, increasing quality of lives to everyone and putting the power back into the people hands. We are in this together.
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source https://www.reddit.com/r/btc/comments/pu3vto/given_the_surge_of_trolls_in_this_subreddit/
How’re things go with cryptos in Europe?
Hello guys! I’ve recently run across some interesting info about obtaining the cryptocurrency wallet for a business in the EU. I wonder if an American citizen can open a bank account in any EU bank and open a wallet for crypto to run a business project. What kind of papers might I need to do that? It would be nice to hear your thoughts and opinion about it. Also, it would be great if you could share some of your personal experiences regarding crypto trading or invest in EU countries.
The reason I’m writing here is that I would like to run a new business project. Besides, I wanna invest some of my savings and my capital into crypto. I see that the future is standing behind cryptocurrency. Many of you have already seen a couple of excellent examples of how it might make you a billionaire in no time. But to be realistic, I don’t expect that I will make a fortune shortly. Still, investing in crypto gives us a wide range of opportunities.
I’ve recently got some information about cryptocurrency license from this site — https://ecommerce-broker.eu/en/Licenses/crypto-license-in-estonia/. Basically, they operate in one of the EU countries. They have listed some of the advantages of opening a new project there. If you check the info they’ve provided, you will see the whole range of benefits. But long story short, the government in some EU countries created a beneficial environment for new businesses. Low corporate tax rates are one of the main things that made me think of running a company there. Those who tried to run a company in the USA might know how expensive it might be in terms of tax.
Despite the impressive list of advantages, I need to find out about the disadvantages too. There is not so much information available online regarding this. So, that’s why I’m asking if any of you have some experience in running a business there. What kind of problems might I face?
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source https://www.reddit.com/r/btc/comments/pu3fwi/howre_things_go_with_cryptos_in_europe/
We have to take action against "troll accounts".
Uncivil and manipulative behaviors on the internet will persist and may get worse.
Say fabricated news stories cause a great deal of confusion about the basic facts of current issues, events and disparate sets of rumors that combine can shape public discourse and, at times, potentially lead to dangerous behavior.
There are more people who will complain online in an attempt to get attention, sympathy, or retribution. Trolls now know that their methods are effective and carry only minimal chance of social stigma and essentially no other punishment.
Trolling is done by a small, vocal minority of sociopathic individuals. Past research on trolling, which focused on interviewing these individuals. Some studies even showed that trolls have predisposing personal and biological traits, such as sadism and a propensity to seek excessive stimulation.
If a discussion begins with a “troll comment,” then it is twice as likely to be trolled by other participants later on, compared to a discussion that does not start with a troll comment.
In fact, these troll comments can add up. The more troll comments in a discussion, the more likely that future participants will also troll the discussion. Altogether, these results show how the initial comments in a discussion set a strong, lasting precedent for later trolling.
Since trolling is situational, and ordinary people can be influenced to troll, such behavior can end up spreading from person to person. A single troll comment in a discussion – perhaps written by a person who woke up on the wrong side of the bed – can lead to worse moods among other participants, and even more troll comments elsewhere. As this negative behavior continues to propagate, trolling can end up becoming the norm in communities if left unchecked.
By understanding what leads to trolling, we can now better predict when trolling is likely to happen. This can let us identify potentially contentious discussions ahead of time and preemptively alert moderators, who can then intervene in these aggressive situations.
Altering the context of a discussion, by prioritizing constructive comments, can increase the perception of civility. Even just pinning a post about a community’s rules to the top of discussion pages helps.
It’s also important to differentiate the impact of a troll comment from the author’s intent: Did the troll mean to hurt others and spread misinformation, or was he or she just trying to express a different viewpoint? This can help separate undesirable individuals from those who just need help communicating their ideas.
Please, Vote and help our community.
Thank You.
Please, take a look at the sources bellow:
https://www.businessinsider.com/find-out-why-any-of-us-are-capable-of-trolling-2017-3
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source https://www.reddit.com/r/btc/comments/pu2dre/we_have_to_take_action_against_troll_accounts/
Thursday, 23 September 2021
Bitcoin’s official website, created by Satoshi Nakamoto in 2009, was just hacked for the first time in history. The hackers are now running a giant #Bitcoin giveaway scam, which has already stolen thousands. Please be vigilant and never send your coins to anyone!
BCH falling in market cap?
19 wtf is going on?? Rug pulled by whales?
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source https://www.reddit.com/r/btc/comments/ptnn3p/bch_falling_in_market_cap/
Bitcoin cash animal rescue: 100 BCH AUTOMATIC ANIMAL FEEDERS CAMPAING.
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Bitcoin cash through the Bitcoin cash animal rescue project has allowed us to help many animals in street conditions, to be able to provide an opportunity to those who have needed it most. Rescues, feeding, surgeries, searching for a new home. It is part of what we have achieved with this project, which is why today we want to take a big step. In our beginnings we made the creation and installation of 3 feeders for animals, which were installed in strategic parts of the city in order to feed a greater number of animals at any time. At the time of creating these feeders we knew that they were going to attract a lot of people's attention, so we wanted to take advantage of the opportunity and include in each of them, some brochures which had basic but essential information about Bitcoin cash and thus be able to attract more people to this great community. Which worked wonders and even several people took photos of these feeders and uploaded it to their social networks because this had been seen very rarely in our city. Today several months later, we want to take this initiative to the next level. We have proposed to create, install and of course maintain in optimal conditions with the passing of the days, 100 BCH ANIMAL FEEDERS. This will allow us not only to feed a super large number of animals in street conditions, but also to function as a large-scale means of attracting new users and potential investors to the Bitcoin Cash community. As always our proposal will always be to continue helping and achieving incredible things by the hand of BCH. Of course all this will be documented as we always do through our twitter account and here on my reddit account. For all those who wish to help us achieve this great goal you can do it here: Fundraising campaign Our official BCH wallet. [link] [comments] |
source https://www.reddit.com/r/btc/comments/ptkxpd/bitcoin_cash_animal_rescue_100_bch_automatic/
Bitcoin has just done something fiat couldn’t for our team
I have a dev team spreading across Europe and the USA. We wanted to have an online team lunch so to enable self service, I promised to buy each team member £20 worth of food delivery voucher.
It was easy enough to buy vouchers for my team here in the UK. However, when it comes to my USA members, there was no way to pay for a voucher in Grubhub. I tried paypal and my payments got “pending” for 4 hours. I tried my Visa/Amex cards and realized the website only allow US based addresses to make this order.
Disgruntled, I went to bitrefill, I know it will be fucking hard for me to expense this back to my company, but hey, I promised my team the vouchers so they will have their vouchers. A few clicks, no registration needed, and one minute later, I got two codes to send to my members in the USA.
I love bitcoin ❤️ The future is here.
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average acquisition price - information that all the wallets, block explorers and portfolio trackers should have
average acquisition price = average fiat price of UTXOs (coins) at their time of creation
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source https://www.reddit.com/r/btc/comments/ptic1o/average_acquisition_price_information_that_all/
Hmm..bout TIME someone brought this to light..besides us BTC wackos.
TIME: The U.S. Is Losing the Global Race to Decide the Future of Money—and It Could Doom the Almighty Dollar. https://time.com/6099105/us-china-digital-currency-central-bank/
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Taproot will activate in November
Hey guys!
My node is at block 701,720 as I write this and taproot will activate @ 709,632. Will that bring some green to Bitcoin? Defi, more privacy, the first real upgrade since 4 years (or so). It shows that Bitcoin isn't immune to adapt. It might even restore some dominance, because - who the fuck will invest in some defi on a non-decentralized, expensive blockchain like E**? Or something fragile like SO*?
ET* pumped a lot when that new upgrade came in. I think you might brace yourselves for some FOMO imho.
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It's so cheap right now :)
I have no idea what the future holds. But I figure since we are lower than my original all in price, I could slice off a little more of my savings to convert to BTC.
Excited to be approaching .1 BTC. Hopefully in a few years (months?) I will be keenly thanking myself. (Original all in in february)
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Urge Your Local Representative to Vote NO on the Infrastructure Bill
The U.S. Congress is set to vote on Monday whether to pass the infrastructure bill, which includes multiple provisions that are damaging to Bitcoin and the LN. If passed, it could drive jobs and wealth overseas. It is bad for America. If you are American, you can make a difference by calling or emailing your local representative and urging them to vote NO on the infrastructure bill because it includes multiple provisions that are hostile toward Bitcoin.
https://www.house.gov/representatives/find-your-representative
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Wednesday, 22 September 2021
BCH Bitcoin Cash - The People of the community in 2021 - who are they?!?
I've been away from BCH for a while
I used to know all the names of the main ppl in the community to listen to to see what's going on in BCH. But I'm having a hard time remembering them all.
would you guys help by dropping a name below if you know someone who is pro-BCH these days
I'll go first.. here's my list:
Roger Ver (who could forget Roger!)
Corbyn Frasier
Vin Armani
Rick Falkvinge
Collin Enstad
(yes i know this list is short, i know there's more.. please drop a name if you know someone good i should check out!)
to be clear im not interested in those great people who unfortunately fell under the power of the dark side (Ryan X Charles, Amaury Sechet etc) only those who still like BCH.
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source https://www.reddit.com/r/btc/comments/psu8ai/bch_bitcoin_cash_the_people_of_the_community_in/
Yayyy!! 0.1!!
I know, not the biggest thing to most, but I'm super excited to finally get 0.1 (0.10130536 to be exact) Bitcoin!! Only took about 6 months...
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54 new convenience stores accept BCH in Argentina
54 new convenience store on the K24 chain accept Bitcoin Cash (BCH). During this week we are going to start with the training and implementation of the 54 new points K24, M24, V24 and H24.
K24: Kiosco24 M24: Market24 V24: Virtual24 (shipping included) H24: Horneados24 https://i.imgur.com/4m6bjdM.jpg https://i.imgur.com/hZaFVXJ.jpg
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source https://www.reddit.com/r/btc/comments/pst3ce/54_new_convenience_stores_accept_bch_in_argentina/
You Bitcoin fuckers do not understand money. I'm here to drop some knowledge on you
I've been listening to Bitcoin podcasts and reading posts on here and I've noticed a lot of you Bitcoiners are falling into the same logical error that I would expect a Keynesian economist or a particularly smooth-brained chimp to fall into. Fortunately I'm here to educate you guys.
Money is NOT a tool primarily for spending. This is NOT the most important feature nor primary purpose of money and is NOT why money has value. You do NOT use money when you spend it on a ham sandwich.
Money is a tool primarily for saving. This is the most important feature and primary purpose of money and is why money has value. You begin using money when you save in it and you cease using money when you exchange it for a ham sandwich.
This is why Keynesians and midwits with limited cognitive ability do not and will never see the value of Bitcoin. In their limited minds spending is what is important and this is why they go on and on about nonsense metrics like GDP. Bitcoin is not especially well suited for transacting, certainly no more so than existing monetary options. This is a problem Bitcoin does not solve better than its currently available competitors. So when I listen to a podcast where someone is talking about how they bought an Egg McMuffin in El Salvador with Bitcoin and it "worked very well" it becomes clear they are blind to the real value proposition of Bitcoin. This is not a problem Bitcoin solves.
Bitcoin's strength aligns with the true though often overlooked primary purpose of money--saving. Instead of saying "I used Bitcoin to buy some McNuggets and it worked really well!" a Bitcoiner with a correct understanding of money would say "I used Bitcoin as a savings vehicle for the past 5 years and didn't get rekt by the inflation that hit everyone else. Bitcoin worked really well!" Home prices have doubled in the last 5 years? That's a problem for people saving in an inferior money but it is not a problem for Bitcoin savers. Housing prices have dropped by about 90% for those saving in Bitcoin.
It is only when you realize the important function of money is to save that you will realize Bitcoin will inevitably replace every other form of money because it meets this need better and more efficiently than any other market option. The other stuff people are focusing on simply do not matter. If Bitcoin had a bug in its code that caused an interdimensional portal to open where by a leprechaun came out and punched anyone in the face every time they made an on-chain transaction, then Bitcoin would still be the best money and would still supplant the world's existing inefficient monetary systems.
You're welcome
-X
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Why most people will never make big gains , even if they want to (a short essay to inspire you)
So many of my friends, family & work colleagues proclaim in despair....
" if only i had bought Amazon back in the day or Facebook...i'd be set for life!".
"buy BTC then" i say.
They laugh.
Heres the thing....
Most people desire a decent level of wealth.
Its not about lambos, its about having a decent level of freedom & security.
It's about being able to look after your loved ones when times are hard.
It's about having the freedom to do what you want , when you want.
But heres the catch.
Most people don't have the bottle for it.
They will sell when they get a +25%, +50% or x2 gain on anything.
And they will definitely sell it when it goes down by more then -25% .
Thats true for Amazon ten years ago & BTC today.
You see these people look at the Amazon or Facebook stock chart & they don't zoom in.
They ignore the extreme volatility of the day to day, week to week.
They forget the FUD, the naysers.
They forgot the mainstream media laughing at Bezos & regarding Amazon as a sham.
Even if they got in early they wouldn't have the nerve to hold & ride it for the long term.
I was once one of these people too.
I bought BTC in 2017 and sold in 2018.
But heres the thing. You learn.
Experience teaches you and it hardens you.
So as China begins to collapse and global markets wobble, ask yourself the question.
Where do you want to be in ten years?
Do you want to be like everyone else, wishing they had got in early.
Or do you want to be the 1% that understand the nature of volatility and ride it all the way.
So stay calm.
Re-read the whitepaper.
AND HODL.
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How you can support the Bitcoin network even more!
Supporting the Bitcoin network can be as simple as using it, but you might find yourself wanting to help out more like i did recently, so here are some resources for you to further support the bitcoin network!
Using Bitcoin
Using Bitcoin is the first thing you can do to support Bitcoin. There are probably many cases where it can make your life easier. You can accept payments and make purchases with Bitcoin.
Be the Network
If you have a good Internet connection, you can strengthen the Bitcoin network by keeping full node software running on your computer or server with port 8333 open. Full nodes are securing and relaying all transactions.
Mining
You can start mining bitcoins to help processing transactions. In order to protect the network, you should join smaller mining pools and prefer decentralized pools like P2Pool or pools with getblocktemplate (GBT) support.
Translate
You can help spread Bitcoin awareness by translating or improving translations inside important parts of the Bitcoin ecosystem. Just pick a project you would like to help with.
Bitcoin Core - Bitcoin.org - Bitcoin Wiki - Bitcoin Wallet (Android) - Electrum
Development
Bitcoin is free software. If you are a developer, you can use your superpowers to do good and improve Bitcoin. Or you can build amazing new services or software that use Bitcoin.
Donation
The easiest way to help is to donate some bitcoin to BitGive. Or you can help directly fund any project related to Bitcoin that you believe will be helpful in the future.
Organizations
Many non-profit organizations are dedicated to protecting and promoting Bitcoin. You can help these groups by joining them and taking part in their projects, discussions and events.
Speak
Speak about Bitcoin to interested people. Write about it on your blog. Tell your favorite shops you would like to pay with Bitcoin. Help to keep merchant directories up to date. Or be creative and make yourself a nice Bitcoin T-shirt.
Documentation
Bitcoin.org and the Bitcoin wiki provide useful documentation and we are constantly improving the information they contain. You can help to improve these resources and keep them up to date.
Meet the Communities
You can join Bitcoin communities and talk with other Bitcoin enthusiasts. You can learn more about Bitcoin every day, give help to new users and get involved in interesting projects.
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