Ask me anything
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Saturday, 23 October 2021
Unpopular opinion: The reason for actual bitcoin being extraordinary valueable is the fact that beside the possibility of simply hodling it as hedge or investment, it is also directly exchangable for anything two parties agree upon all over the world without any 3rd party being able to prevent that.
This will be a important innovation on smartBCH, which will make the smartBCH the 2nd chain after ETH to have a concentrated liquidity among various EVM.
“Bitcoin Cash has retained its laser focus on facilitating easy, fast, everyday transactions. And this is starting to pay off. Daily active addresses, a proxy for daily active users, have continued to grow strongly in the past two years”
“ Listening with 12k others to @mcuban on @TwitterSpaces ripping into @Bitcoin maxis. Mark says people and businesses will use crypto that is easy to use, cheap and fast, not Bitcoin. I agree with Mark. Whybitcoincash.com Bitcoin maxis hate it. Mark says what Elon and I said”
Purse.io earners
Until now I only used purse.io as a shopper, now I wanted to try the “earner” side of purse.
It seems, as of my understanding, that you’re not actually a “earner”, you just exchange your fiat for btc/bch, for a fee >5% (highest I’ve seen was 49% above market) for fulfilling the order. The problem I see is, that these types of fees for just exchanging fiat -> bch would be pretty good for p2p exchanges like localbitcoincom/localcryoto, but I believe that a lot of shoppers would pass on their discount, or even pay extra to get their orders fulfilled as fast as possible, that also would incentivises more people to become earners, as they could earn <1%? per fulfilled order. There should be at least the option to pass on the discount/ pay more to get fulfilled asap.
What do you guys think about that? Did I understand it correctly, or do earners already earn and I just don’t get it?
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source https://www.reddit.com/r/btc/comments/qdnvwp/purseio_earners/
Deceased friend’s bitcoin credentials
Throwaway for obvious reasons. I’ll try to be concise: my friend committed suicide in 2012 and his parents gave me his laptop. I only turned it on occasionally to look at the pictures he had of us on it, but six months ago I found a word file with bitcoin details on. It was everything you aren’t supposed to keep on your computer - his account (for a “blockchain wallet”), password, and seed. I’ve since educated myself on bitcoin, but I can’t bring myself to look at his account, even in the block explorer to just see if there’s a balance. He was a very smart guy but was into buying drugs online (which is what I think he used bitcoin for). It feels like it would be wrong to see if there’s a balance, and part of me thinks I just want to leave it untouched. What are your thoughts?
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Bitcoin and my redemption story
I've never said this before, but today I am so fucking proud of myself.
Three years ago was the darkest time of my life. I had succumbed to a vicious gambling addiction that drained me of everything I had and then some, save for my closest relationships. I'll spare you the drawn out story of my spiral, but just to give you an insight into what my life had become, there was one time I lost $10,000 in a single day playing online poker. This was when I was making $60k.
Fortunately, my wife chose to stay with me even after discovering that I had squandered the money gifted to us for our wedding. If you've ever been close to having 'those' thoughts, believe me, I was straddling that line pretty hard.
Somehow, I pulled myself together and just started living the "one day at a time" mantra. That was not easy. Sure, I was no longer wasting $500 a day online gambling, but taking the rush of gambling out of my life and going cold turkey didn't make my newfound reality and accumulated debt any more easy to live with.
The further I distanced myself from my gambling missteps, the easier things became over time.
Enter bitcoin. I had curiosity into what bitcoin was and before I started buying, I did my homework. I spent over six months reading books, listening to podcasts, getting a firm understanding of what it was so I could justify buying it. I DCA'd into my bitcoin position because knowing myself, I knew I would not emotionally be able to handle the volatility swings if instead I tried to time the market.
My debt obligations were looming over me, but I still managed to save $50 a week which turned into $100 of btc. As my understanding of bitcoin grew, so did my conviction. I bought on dips and when I got my bonuses from work, I'd peel a little off to continue building my bitcoin position. I haven't sold a single satoshi.
Yesterday, I found out that I got a job offer which will take my salary well into the six figures. Within the next few months, I'll be able to finish off all my gambling debt obligations without having to sell any of my bitcoin. This news coming within the same week as bitcoin hitting a new ATH. Today I cried tears of joy thinking back to how close to life's edge I had allowed myself to go during my darkest times.
Michael Saylor says that bitcoin is hope. He's fucking right it is.
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I'm a minimum wage 18 yr old with 1.3k in bitcoin, Should I buy more in the dip?
I'm new to bitcoin, a tons of people are saying that I should buy now because of the dip, others are saying to sell. What should I do?
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The most important aspect of smartBCH is that it allows you to sell or buy your BCH versus a stablecoin (flexUSD or sBUSD) in a Dex environment. It's not possible to cheat with this. Naked BCH shorts are not possible on smartBCH. If we want the BCH shorting to stop, move it to SmartBCH.
Binance, Coinbase, Coinex, almost all exchanges run fractional. That mean shorters might borrow BCH to dump that the exchanges don't have. But as shorters can drive the price down, people then move more BCH to these exchanges and panic sell and eventually the exchange end ups with all the BCH they own their customers.
This is a vicious dynamic but we can break through it. Telling people to stop trading BCH is unrealistic. But telling them to start trading it versus stablecoins on dexes is very realisitc.
On smartBCH there are already 4 dexes that allow you to trade BCH versus a stablecoin. (currently flexUSD and sBUSD). This means people that thing the price will go down can sell and people that thing the price will go up can buy more.
You can also hedge your BCH by selling half of it and then proving liquidity. After you are 50/50 in BCH and flexUSD. If the price goes up, you will still gain some but less then if you just held.
But if the BCH prices goes down, you will also lose a lot less because within the pool you are going to end up with less flexUSD but more BCH.
This means that for your capital the market becomes less volalite.
And of course while you do this you get a reward for providing the LP. And the 50% you have in flexUSD gets interest while your flexUSD is in the pool.
This is such a win win win situation that if you have any BCH on exchanges you should withdraw it and move it on to smartBCH.
If we could start a exodus with BCH from centralised exchanges moving away until it's at smartBCH then the naked shorting will eventually stop.
This can have have an incredible positive influence on the price.
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source https://www.reddit.com/r/btc/comments/qdml68/the_most_important_aspect_of_smartbch_is_that_it/
Friday, 22 October 2021
BTC Stolen from Trezor Hardware Wallet. Malware on computer???
UPDATE 2: I AM A FUCKING MORON. I entered my seedphrase into a fake Trezor site.
https://www.reddit.com/r/TREZOR/comments/e1a9o1/fake_trezor_website_all_funds_lost/
this^^^ is exactly what happened to me.
UPDATE: Likely phished for seed phrase, see thread with u/pink_raya
I had a little over a full BTC stolen from my hardware wallet just under a week ago, and just discovered so this morning. I believe I left my hardware wallet plugged into my computer while I was out (like a fucking moron), as I was using the wallet earlier that day. I've filed an IC3 complaint, as well as filed a claim with Coinfirm's Reclaim Crypto.
I'm not holding my breath waiting for my coins to be returned to me, but if there are any other avenues by which I might increase the likelihood of getting my coins back, I'd love to hear what they are.
And if by chance a benevolent cyber-sleuth is reading this, the TX ID for the transaction is
7f851490917a9384b3223ea13c8460cb880dfb62f0858b8e51aafa3a295b43e2
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Question on blockchain size
So if I'm correct the bitcoin blockchain size is about 360 GB, and bitcoin cash is half of that. Yet the volume of bitcoin cash is much lower than half of bitcoin's. Doesn't this show that in the future bitcoin cash could become too large for people in totalitarian systems to run their own wallet, because it may not be possible for them to get an app store wallet or web extension...
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source https://www.reddit.com/r/btc/comments/qclkso/question_on_blockchain_size/
I bought a business and some bitcoin at the same time
Exited the rat race in 2017. Bought a cafe. And with some spare change bought some bitcoin.
Today the cafe is worth practically nothing (hope we can recover after Covid) and the crypto portfolio did OK.
But if I swopped the allocation of money into bitcoin instead of the business, I would have made $3.4m more.
And I wouldn't have had to work 80 hours a week.
Talk about being stupid.
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What’s wrong with selling bitcoin?
Many folks around here preach HODL and all but if you made decent gains and want to cash out, cash out. Reward yourself from time to time. You won’t be able to enjoy your bitcoin if you’re dead. Ain’t nothing wrong with selling bitcoin.
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Casascius Coin Marketplace
Many of you might remember my posts over the years about Casascius coins, which I believe to be some of the coolest Bitcoin collectibles ever made. They have been pictured in numerous articles as a physical representation of Bitcoin, and have withstood the test of time with over $2.7bn of BTC still loaded on them. To this day I have people reach out to me asking how to purchase them and I have always recommended Bitcointalk collectibles section. The problem with this is that it requires the use of different escrows, reliance on the forum trust system, and dealing with shipping and hoping the buyer doesn't dispute receiving it or risking meeting up in person. This has prevented numerous sales and led to this massive market being quite illiquid even though almost every Bitcoin enthusiast I know wanting to own one. For the last six months I've been working with 4K to support Bitcoin collectibles starting with Casascius coins. They started with watches and sneakers but to me it was obvious that Casascius coins were a great fit. Today the Casascius marketplace has launched and I am so excited to bring attention back to these unique pieces of Bitcoin history!
marketplace: https://4k.com/brand/casascius
Yahoo Finance article: https://finance.yahoo.com/news/4k-platform-offer-over-18-160200705.html
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“ They have arrived and ready to rollout to 100's of UK businesses!! If you have a brick and mortar or even a service based business and would like to accept Bitcoin Cash as a payment method, please do get in touch. By using Bitcoin Cash with your business”
Make friends and discuss Bitcoin together
Hello, thank you for browsing my post. I come from Beijing, China, but my mother is Korean. Now I work in the United States. I hope to meet some interesting people, I am also a fan of Bitcoin, welcome to chat with me
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source https://www.reddit.com/r/btc/comments/qczgat/make_friends_and_discuss_bitcoin_together/
I’m ALL IN and it feels good!
I started buying in 2017 but stupidly didn’t buy the bear market and focused on stocks (which did incredible for stocks). I was comfortable holding my stocks and felt they were safe and had a great return. However, they have not compared to BTC’s overall returns after this bull run.
When BTC began making headlines again, I dove into the research and actually had a panic attack when “it clicked” in my brain. How could I have not seen the potential before? Thank goodness I never self a single sat during the bear market.
I decided to aggressively DCA into Bitcoin. I sold all my stocks and Alts when the first dip occurred this year and put it all on BTC. I bought every dip. Then I called my IRA manager and told him to sell everything and mail me the check. I dumped all of it on BTC in the low 30k’s and 29k. My IRA manager said it was crazy.
Well, I’ve now DCA’d everything into BTC. New BTC purchases will come from my salary. I have no other assets besides my house and an S19j Pro ASIC miner I recently bought. I plan to keep everything I mine and purchase more ASICs.
I’ve never had more money in my life and I’ve never felt so optimistic. Who’s crazy now?
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![The Future of Money - New Comic by Me [OC]](https://preview.redd.it/r00h80g8juu71.jpg?width=640&crop=smart&auto=webp&s=8d726a20880ed078fcd221439e1e61fcd4ed9fc5 "The Future of Money - New Comic by Me [OC]")
Sentiment Analysis for Bitcoin and Variants
What's up guys, I am posting to introduce you to our new crypto market sentiment tool, GrapevineCrypto. On it you can find market sentiment analyses for Bitcoin, Bitcoin Cash, Bitcoin Gold and a large assortment of other smaller variants - as well as a lot of other both popular and smaller coins. Our aim is to allow users to see the trends in market sentiment for all major coins but also to see the smaller coins that are going popularity so they can use this data to make better investment decisions. If this sounds interesting to you please check us out at www.grapevinecrypto.io , and we would highly value any feedback you may have (either comment here on this post or fill in the short form found on the account page). Thank you all very much for your time and I hope you all have a great day.
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source https://www.reddit.com/r/btc/comments/qcwwvi/sentiment_analysis_for_bitcoin_and_variants/
Thursday, 21 October 2021
Threat?
I've been asking questions in another thread and realized that there are people actively trying to get me to quit my reasoning. Obviously this whole subreddit was created to allow free speech (im reading it in the description inches away from the writing of this post) and the first time I come here to ask questions people from the /rbitcoin subreddit find their way to my question with outright dismissal. I am so grateful I have a place to speak freely without mods instantly flagging me.
Its scary how emotional those people are and how they see fit to brigade well beyond their claimed territory. Their campaign honestly has mostly worked because even me as a monero nerd considered btc to be genuine. It was not until I came here asking questions that a lot of things started clicking for me. We can spend our lives searching for answers we will never find, but people here have already shared with me knowledge that will save me years.
It's very suspicious to me that some people feel threatened by my questions and just say "oh don't worry about it just stick to what makes money" when I specifically say I don't want financial advice and don't care about money. I feel like that usually works for them and they really feel threatened that I am asking some critical questions looking for real answers. I am starting to really believe.
Thank you for those who have been the community members they should have been and guiding me to the answers for my own eye to see.
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source https://www.reddit.com/r/btc/comments/qc9h8c/threat/
80K EH?
Just wanted to shout out to my Canadian friends...we are about to break 80,000 CAD for the first time.... Big deal here!!!!
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Hindenburg Research: “We support the crypto community, which is rooted in principles of openness and transparency. Tether's opacity undermines the movement it claims to be a part of. We thank everyone for their submissions as we continue to investigate.”
Bitcoin Report 66,000 Miwon / History of Bitcoin Niitaka
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October 19th, AI 财 币 Global 站 获 悉, Hitoku 币 价 嶨 趨 66,000 Miwon / sheet, breakthrough April 2021 Miwon. [link] [comments] |
source https://www.reddit.com/r/btc/comments/qc5vgp/bitcoin_report_66000_miwon_history_of_bitcoin/
It's been a custom to order pizza on the day BTC breaks a new ATH
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Since 2017, my family's custom has been to order pizza on the day BTC hits an ATH. I'll leave the toppings to you folks.. The post with the best toppings will win some free BTC EDIT: Thanks for all the suggestions, I've decided to go with: Pineapple, Jalapenos, Pepperoni Sausage, mushroom Sort of a combo from different suggestions. Winners: morbo_2 and gtownatc plus atmrank as a mention for originality. Send me a DM with ur BTC address. I'll send you a portion of my mining profits :) Edit: Delicious! [link] [comments] |
Wednesday, 20 October 2021
I still hold Bitcoin from buying it at $400... and I just bought a significant amount at $63,000, and have bought everywhere in between.
It's going up forever. If you're interested in Bitcoin don't be scared that it's basically at an all time high. I've bought the all time high many times, and every single time it's paid off.
Also, stay out of shitcoins. They're worthless.
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Congratulations everyone!
99.9% of people that ever bought bitcoin and didnt sell are now in profit, congratulations to everyone!
If you’re the person that bought $64,000 in April, We’re coming for you too!
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BU is voting on adopting the Bitcoin Mining Parliament (BMP) this week
The Bitcoin Mining Parliament (BMP) is a protocol and hashpower voting system, decentralized, on-chain, open-source, verifiable, easy to use, simple, extensible, voluntary, neutral and resistant to outside interference.
The BMP takes no sides in internal Bitcoin Cash disagreements. The BMP is a neutral protocol that works with on-chain data. It is as secure as the Bitcoin Cash blockchain.
The BMP is an on-chain Bitcoin Cash governance protocol that enables miners to coordinate their actions, and thus bring greater certainty to the BCH ecosystem. Miners, and any delegated agents, can talk and vote with their hashpower, simply extending the Nakamoto Consensus in a pre-consensus phase.
The BMP empowers the miners of the last 28 days of BCH blocks to make themselves heard, with a perfect signal to noise ratio. The BMP can serve as an important tool for Bitcoin Cash governance, reducing forking, infighting and disputes.
README
Miners can onboard with this information.
- English EN https://github.com/JavierGonzalez/BMP/blob/master/README.md
- 中文 CN https://github.com/JavierGonzalez/BMP/blob/master/README_CN.md
- Español ES https://github.com/JavierGonzalez/BMP/blob/master/README_ES.md
QUOTES
“The BMP gives miners an easy way to let their voice be heard." - Roger Ver
"I wish a 3-month miner vote could be conducted and completed (miners can use http://BMP.virtualpol.com to vote)." - Jiang Zhuoer
“We’re building a kind of money here. We need to be predictable. That’s why I like the BMP." - Majamalu
“We have to give the Bitcoin Mining Parliament a chance.” - Fernando Pelliccioni
“I think Javier is correct in how he structured the BMP, as one part of the three-stage model of governance." - Justin Bons
“The Bitcoin Mining Parliament is genius in its simplicity, and if embraced, means stakeholders get more involved." - Marc De Mesel
BU VOTE
BUIP 173: https://www.bitcoinunlimited.info/voting/
Voting results so far:
MORE INFO
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source https://www.reddit.com/r/btc/comments/qbhhxp/bu_is_voting_on_adopting_the_bitcoin_mining/
Reginald Fowlers Search Warrant indicates that Bitfinex/iFinex is an unlicensed money transmitter. That means iFinex/Bitfinex/Tether wants you to believe that big institutional investors with billions of dollars sent billions of dollars to an unlicensed money transmitter.
A call to crypto millionaires
Hi. I bought cryptos in 2012 and I've been hodling all this time in deep cold storage. I'm what you would call a crypto millionaire. I'd like to know what other people in my situation are doing regarding the tax man. Do you disclose your holdings? All? Some fraction? Nothing? What are your future plans? What if your net worth goes 10x or 100x or 1000x in the upcoming years? How are you preparing? Do you have or plan to have some kind of corporate structure to handle your wealth? If so, in which country/ies?
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![Thai boutique "Leela & Ella" now accepts Bitcoin Cash, BCH, and even gives you a 15% discount for using it! [swimwear, lingerie, jewelry]](https://external-preview.redd.it/UDFMlfewdjGrfbpXxP9XItn0CXy6PsG611zCY8CIE2k.jpg?width=640&crop=smart&auto=webp&s=50cf77d0e6f6c6a33c9b2646905f770766052a07 "Thai boutique \"Leela & Ella\" now accepts Bitcoin Cash, BCH, and even gives you a 15% discount for using it! [swimwear, lingerie, jewelry]")
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