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submitted by /u/skrapzgs47 [link] [comments] |
Saturday, 9 October 2021
Bitcoin geo-cache in Vermont
Just loaded up a wallet with 0.0015 btc. Wrote the 12 word private key on a sticky note and left it into a geo-chache located on a peak in Vermont.
The longer it takes someone to find it and realize what the 12 words mean the more it will be worth.
Good luck!
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98% of retirement accounts in the US can’t access Bitcoin. That’s $36,800,000,000,000 What happens when they do?
Read this, this morning from Dan Held and it gave me the boost I needed for further investment right now ! 🚀
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BITCOIN IS POWER!
Hi all,
I got into Bitcoin around April of this year. I listened the Robert Breedlove on Lex Fridman's show and he sparked my interest in the subject matter. Now, I am no one who is just looking for a way to make quick money. Rather than that I was deeply intrigued by his Philosophy and the Austrian Economic Theory behind Bitcoin. I always had slogans like "Big Banks are evil" and "They steal our wealth" in the back of my mind but I never followed up on these claims. That was until said interview. I went on this very sub-reddit and asked Bitcoiners to point me towards something where I can start to learn about the flaws and fallacies in our economy and our financial system. I was referred to the Hidden Secrets of Money Series with Mike Maloney and Saifedean Ammous The Bitcoin Standard. After that I followed the links, the signs, the mentions, the recommendations, the references, the suggestions and I went down A DEEP RABBIT HOLE!!! Not kidding, I spent roughly 500 to 600 hours over the last 6 month reading every book and every article I found, watching every video and listening to tons of podcasts on the topic. And it changed my entire world view, my approach on financial matters and my strategy for long term investing. I am humble enough to know that I still know nothing at all... but one thing I have taken away from this is that people who are not familiar with Bitcoin must not underestimate the NON-FINANCIAL POSITIVE EFFECT a Bitcoin Deep Dive can have on you as an individual. I feel like my laser eyes are slowly starting to glow and they burnt the veil of bullshit mainstream propaganda right off my face. Bitcoin has led me to Mises, Rothbart, Taleb, Hayek and many more. I have an entire shelf on my reading list, and which each book I feel more empowered. Bitcoin has done this. Thus, the thing I am preaching now to friends and family is the following:
Bitcoin sparks curiosity. Curiosity fuels self-education. Self-education generates knowledge. And knowledge is power. ERGO BITCOIN IS POWER!
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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/q464bn/its_fusion_friday/
PSA: Marketcap is NOT the total dollars spent on a coin
Alice has 100 apples. Bob buys 1 apple from her for $1 dollar. Apples now have a marketcap of $100. The end.
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Bitcoin-based DeFi in El Salvador
Yesterday saw the announcement of an interesting collaboration in El Salvador between a national bank (Banco Hipotecario) and Sovryn, an open-source Bitcoin-based DeFi platform. Sovryn allows people to utilize their Bitcoin for such things as lending, facilitating decentralized trading and so on.
I think it's incredibly massive news for Bitcoin (as well as for the people in El Salvador). Using DeFi services is quite another step to take for the average person, and the bank effectively helps people getting used to the idea that it is safe and secure. It further entrenches the embrace of Bitcoin, undermining any argument for the need to widen adoption to include other cryptocurrencies. No SOV is needed to use Bitcoin on the platform. Sovryn aims to offer the full DeFi suit (including NFTs, stablecoins, mortgages, etc.), all based on the usage and security of Bitcoin. A national bank will effectively teach people to use their Bitcoin (and softens onboarding), using a decentralized platform that is just as available without any bank. These seem to me the realistic steps to the eventual demise of the centralized banking world and a Bitcoin-based financial system.
The vision of the future that starts to emerge from the adoption in El Salvador is that of a system consisting of Bitcoin + Lightning + RSK + Bitcoin-based DeFi. Little else seems needed.
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If some merchants avoid Visa 3-5% processing fees, their profit margins might be enough to knock out their competitors, who would then also adopt crypto, in order to remain relevant. We just need some big companies to kick off this affect.
Friday, 8 October 2021
For years prominent Bitcoiners disregarded “don’t trust, verify” in favor of pushing an impossible “prove it” narrative on Tether skeptics. The hypocrisy of people who religiously promote self-verification, yet openly ridiculed those who refused to trust Tether’s opaque ops.
If Tether goes bust then large traders/institutions/retail-investors will only use other Stablecoins like USDC which is nearly at 50% of tethers market cap. The market does not need tether for anything and its time they leave.
We dont need these bullshit myths going around that for some unknown reasons we require tether.
We do not need them and the scams they perpetrate.
The markets will actually become healthier and safer without their shady activities.
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source https://www.reddit.com/r/btc/comments/q3ik34/if_tether_goes_bust_then_large/
Bitcoin is macro now: Business Insider has quietly replaced EURO/USD ticker from their featured asset tickers to BTC/USD
Here's a snapshot of the website from July 1st, where EURO/USD is in the top right corner: https://web.archive.org/web/20210701105114/https://markets.businessinsider.com/
Here is what the website looks today, with BTC/USD replacing EURO/USD in that spot: https://markets.businessinsider.com/
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Huge News - Visa's New System to Allow Crypto Payments
Honestly guys I think such news can take BTC to new levels by December! What do you guys think will trigger BTC to reach new records this year?
https://crypto-academy.org/visa-to-allow-crypto-payments/
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14% of the US population holds crypto
Bank of America released a report on the digital asset industry, including NFT, institutional investment and growth rate. According to the report, the industry is still "young" and has great potential for future growth. According to research, 14% of the US population currently holds crypto. According to this percentage, the total number of people using crypto as financial assets and payment tools in the US is approximately 21 million.
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Tether confirms what we suspected all along. They lend tethers with Bitcoin as collateral. The borrower then buys more Bitcoin and uses that as collateral to borrow more. And this repeats indefinitely.
How to develop payment system with bitcoin cash? Should I just use Bitcoin address for bitcoin cash?
Hi BCH community,
Im developer looking to integrate crypto payments into my app and bitcoin cash looked like the best option for me. Nonetheless, I am really inexperienced in this sort of thing.
I want to handle payments in 3 steps:
- Create bch address for user
- User sends bch to the address
- I verify the payment and add credits to his/her account
Since my app is written in JS/TS it would be cool if there would be library for it in the same language.
Should I just use Bitcoin technologies for it?
If you can help me in anyway I would be very thankful.
Anyway, I'm grateful to be part of the community :D
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source https://www.reddit.com/r/btc/comments/q3fbkm/how_to_develop_payment_system_with_bitcoin_cash/
Thursday, 7 October 2021
BTC to WBTC
Hi. Safest way to wrap BTC into WBTC? Thanks.
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source https://www.reddit.com/r/btc/comments/q2u170/btc_to_wbtc/
Yesterday i got a call from my Bank
My bank’s Director called me yesterday (never talked or met him before). He told me they were doing some security checks and some “anomalies”popped up on my account. They noticed I was regularly moving my monthly income into exchanges and the director wanted to warn me about the risks and volatility or cryptos which btw i’m fully aware of. He wanted to make sure that I wasn’t investing debt in crypto which of course i’m not (I’m not that dumb) I only invest my hard earned money and what I’m willing to lose. Im totally debt free and i owe nothing to my bank. So I asked him what he knew about cryptocurrencies in general. He said : “I heard Elon mask bought a lot of it”.
I’m from a small city in Italy (so please apologize my english) and I was not expecting to the Director of my bank to know much about crypto but also not that little. He kindly asked me not to bring back the money all at once and I simply told him that i have no intention to do so and that i’m crypto for the long run and not for speculation. I also told him that I was aware of the capital gain tax in case of withdrawals. He asked some fairly personal financial questions and even though we didn’t speak about numbers I knew he knew because he told me that he could see my money transfers to exchanges which I didn’t really like. On the other hand, i had the opportunity to ask him some questions and discovered that I am the only one in that particular bank that is involved with cryptocurrencies
I’m sharing this story with you because I found very interesting that my bank noticed me. I am your average 28 yo guy with an average job and an average salary. I think in the future banks and governments will do their best to make it harder for the average Joe to get involved in crypto.
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Finally hit 0.01 BTC
I know it's not much, but it was my goal for this month.
Should I transfer it from where it is to a custodial wallet? I know how the saying goes "Not your keys, not your bitcoin", but I didn't think it mattered before I hit 0.01BTC
So, should I wait until I hit 0.1 or should I transfer my BTC now
EDIT for clarification: not talking about cold wallets here, I'm talking about online custodial wallets
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I had originally planned on selling when the value of my holdings was high enough to pay off my debt.
But after seeing just how stupid the treasury is with them talking about minting a "1 trillion dollar coin" with a straight face I now realize FIAT is something I never want to hold. They will continue to reduce the value of my debt through inflation so there is no need to pay it off any way. As someone who wants to set aside some of what I earn for later in life Bitcoin gives me hope in what would otherwise be a hopeless situation.
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What news caused BTC to pump today?
Not really seeing anything new in the media? Why is it pumping all of a sudden
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Has anyone tried going long on BTC for months?
I'm thinking of opening a long position on Bitcoin with 2x to 5x leverage and leave it open indefinitely.
But I'm concerned the funding rate will eat away my capital.
Has anyone tried this and what was the result?
Thanks in advance for sharing.
EDIT: My focus is on the impact of funding rate on an indefinite leveraged long or short position.
I understand the risks of leverage and trading and I have plans to keep my liquidation level very far and practically impossible to get margin-called even with a 30 flash crash.
Plus my question is mostly for research purposes. So please tell me what I need to know about the impact of daily funding rates on an indefinite leveraged long or short position.
Thanks 👍
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lol miner problem
lol miner problem
Setup Miner...
OpenCL driver detected.
Number of OpenCL supported GPUs: 1
No Cuda driver or GPUs detected.
Device 0:
Name: AMD 15D8:C8
Address: 7:0
Vendor: Advanced Micro Devices (AMD)
Drivers: OpenCL
Memory: 4140 MByte (4072 MByte free)
Active: false (Unsupported device or driver version.)
Connecting to pool...
Connected to de.grin.herominers.com:1125 (TLS disabled)
Authorized worker: grin1qgwjycfgqxd2m33y6y0mu7z9jnx4fez8n75m4y2lvq7xzu2psxcq9qlrrx
New job received: 1 Height: 1426998 Difficulty: 1
New job received: 1 Height: 1426998 Difficulty: 1
Start Mining...
All devices deselected or failed compatiblity check. Closing lolMiner
(türk varsa sorunu bir türlü çözemedim)
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source https://www.reddit.com/r/btc/comments/q2ptdy/lol_miner_problem/
Wednesday, 6 October 2021
What commercial paper do Tether have?? Chinese developer Fantasia can't pay its debts (missed repaying $206 million worth of bonds that matured Monday).
Can BTC Lightning scale to billions of users and trillions of transactions per day
Please Just give me a yes or no answer:
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Can billions of people move BTC on blockchain without paying insane amount of fees and waiting hours, days, weeks, or even months?
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Can trillions of transactions happen on blockchain without such fees and waiting time?
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Can billions of people move BTC from Lightning to blockchain without paying crazy fees and waiting a long time? I.e, can you take back your BTC from Lightning to your blockchain wallet with low fees and seconds of waiting time?
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Can trillions of transactions happen from Lightning to blockchain without such fees and waiting time?
To me, trying to convince billions of people in the world to use Lightning for their BTC is like trying to squeeze an elephant into a can of soda that can’t increase in size (soda can is the block size).
The Lightning solution is like chopping an elephant into tiny pieces and hoping that you can still squeeze all the elephant meat into the soda can. It can happen but you have to wait until other people have finished putting their portion of elephant meat into this tiny can and it can take several years since the can (block size) can’t hold billions and trillions of elephant pieces at the same time.
Let me know if you disagree. I really want to like BTC but I just don’t see how it can scale to global level of billions of users and trillions of transactions.
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source https://www.reddit.com/r/btc/comments/q27umy/can_btc_lightning_scale_to_billions_of_users_and/
Welcome aboard! "General Protocols" is the new Elf of BCH MythBusting Challenge 2021! More elves support the third edition of World contest to bust small blocker myths about Bitcoin and others.
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