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r/bitcoin | r/Bitcoin | 2024-16-05 |
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r/bitcoin | r/Bitcoin | 2024-16-05 |
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65x is insignificant when comparing with 650x. If you already bought 0.1 bitcoin with 100 dollar in 2017, you would need 7000 dollar, e.g. 70x more capital today to buy another 0.1 bitcoin, to be as significant as those 100 dollars in 2017. That is why the effect of DCA basically become very small after one bull run: Buy or not buy, does not make a lot of difference | r/bitcoin | 65x is insignificant when comparing with 650x. If you already bought 0.1 bitcoin with 100 dollar in 2017, you would need 7000 dollar, e.g. 70x more capital today to buy another 0.1 bitcoin, to be as significant as those 100 dollars in 2017. That is why the effect of DCA basically become very small after one bull run: Buy or not buy, does not make a lot of difference | r/Bitcoin | 2024-22-05 |
You are attempting to explain the law of diminishing returns which I well understand and agreed with you is happening. We however disagree on whether or not 65x return (now 70x) is significant. What about the 0.9963 that was purchased in February? That was a waste of time too? (Disclaimer: I didn't look up the February price, just used that number for illustration) | r/bitcoin | You are attempting to explain the law of diminishing returns which I well understand and agreed with you is happening. We however disagree on whether or not 65x return (now 70x) is significant. What about the 0.9963 that was purchased in February? That was a waste of time too? (Disclaimer: I didn't look up the February price, just used that number for illustration) | r/Bitcoin | 2024-22-05 |
20% discount for two slots | r/bitcoin | 20% discount for two slots | r/Bitcoin | 2024-07-06 |
Full episode:
YouTube: https://youtu.be/o-Bc4MpSyXo
Fountain: https://fountain.fm/episode/6wEn9Ad5LlwuPPxfr9Rc
Everywhere else: https://pod.link/1694392423/episode/9a8fc9e990590247b0eee9e49232588c | r/bitcoin | Full episode:
YouTube: https://youtu.be/o-Bc4MpSyXo
Fountain: https://fountain.fm/episode/6wEn9Ad5LlwuPPxfr9Rc
Everywhere else: https://pod.link/1694392423/episode/9a8fc9e990590247b0eee9e49232588c | r/Bitcoin | 2024-16-05 |
Most of us know this, but thereis a lot of new people here with a lot of questions so I thought I'd make a hypothetical thought experiment, because I had this same question years ago. This is not so much about lost Bitcoin, per se, but about scarcity and transitively, **value.** Its all part of the value equation.
Bitcoin is divided up into satoshis, which are the smallest unit of a Bitcoin. A whole Bitcoin is actually 100,000,000 satoshis. One satoshi is 0.00000001 Bitcoin (8 decimal places after the whole number)
In 50 years from now, Bitcoin will be extremely scarce. So much so, that we will probable be amazed at how much 1 satoshi is worth. It will likely be far more than a penny though. Probably more like a quarter or even a dollar, or more...
When Bitcoin gets that valuable that you cannot facilitate common trade because 1 satoshi is too much or too little to settle a transaction (think if we didn't have pennies, only quarters), then the protocol can simply add more decimal places to accommodate this.
You can add as many decimal places as are needed and **no, this does not change the value or the supply**.
You cannot cut a single pizza up into smaller and smaller pieces until you feed the whole world. It's still one pizza.
At that point, having .01 will be seen like having 10 bitcoin is today.
Cheers! Stay humble and stack sats | r/bitcoin | Most of us know this, but thereis a lot of new people here with a lot of questions so I thought I'd make a hypothetical thought experiment, because I had this same question years ago. This is not so much about lost Bitcoin, per se, but about scarcity and transitively, **value.** Its all part of the value equation.
Bitcoin is divided up into satoshis, which are the smallest unit of a Bitcoin. A whole Bitcoin is actually 100,000,000 satoshis. One satoshi is 0.00000001 Bitcoin (8 decimal places after the whole number)
In 50 years from now, Bitcoin will be extremely scarce. So much so, that we will probable be amazed at how much 1 satoshi is worth. It will likely be far more than a penny though. Probably more like a quarter or even a dollar, or more...
When Bitcoin gets that valuable that you cannot facilitate common trade because 1 satoshi is too much or too little to settle a transaction (think if we didn't have pennies, only quarters), then the protocol can simply add more decimal places to accommodate this.
You can add as many decimal places as are needed and **no, this does not change the value or the supply**.
You cannot cut a single pizza up into smaller and smaller pieces until you feed the whole world. It's still one pizza.
At that point, having .01 will be seen like having 10 bitcoin is today.
Cheers! Stay humble and stack sats | r/Bitcoin | 2024-16-05 |
We would finally have a standard unit of account, globally. And it would be more sound than gold ever was be because transactions settle quickly and in unison.
Then, price signals would be crystal clear in the monetary network, because there is not the inflammatory haze casting over the market constantly. It wont be a guessing game to price goods anymore. | r/bitcoin | We would finally have a standard unit of account, globally. And it would be more sound than gold ever was be because transactions settle quickly and in unison.
Then, price signals would be crystal clear in the monetary network, because there is not the inflammatory haze casting over the market constantly. It wont be a guessing game to price goods anymore. | r/Bitcoin | 2024-20-05 |
Countries have different economic policies, financial systems and monetary sovereignty. To achieve a unified standard unit of account on a global scale, all countries must agree and coordinate, which is very difficult in reality. The economic conditions and development levels of different countries vary greatly, and a unified accounting unit may not be able to meet the needs of all countries, but may instead trigger new economic imbalances and conflicts. A unified unit of account may eliminate some of the uncertainty caused by currency fluctuations, but it cannot completely solve speculation and bubbles in the market. In general, the legal and regulatory environments of different countries and regions are different. To achieve a globally unified standard unit of account, countries will need to make huge legal and policy adjustments, which is almost impossible to achieve quickly in reality. | r/bitcoin | Countries have different economic policies, financial systems and monetary sovereignty. To achieve a unified standard unit of account on a global scale, all countries must agree and coordinate, which is very difficult in reality. The economic conditions and development levels of different countries vary greatly, and a unified accounting unit may not be able to meet the needs of all countries, but may instead trigger new economic imbalances and conflicts. A unified unit of account may eliminate some of the uncertainty caused by currency fluctuations, but it cannot completely solve speculation and bubbles in the market. In general, the legal and regulatory environments of different countries and regions are different. To achieve a globally unified standard unit of account, countries will need to make huge legal and policy adjustments, which is almost impossible to achieve quickly in reality. | r/Bitcoin | 2024-22-05 |
A standardized unit of account does not mean things need to be priced the same in each country. Gold for instance is already a unit of account in every country in the world. It's just not divisible or functional for global trade in a modern world like Bitcoin would be.
Monetization can take 100 years or more. There is nothing quick about it. Quite the opposite of "quickly" in reality. | r/bitcoin | A standardized unit of account does not mean things need to be priced the same in each country. Gold for instance is already a unit of account in every country in the world. It's just not divisible or functional for global trade in a modern world like Bitcoin would be.
Monetization can take 100 years or more. There is nothing quick about it. Quite the opposite of "quickly" in reality. | r/Bitcoin | 2024-22-05 |
r/bitcoin | r/Bitcoin | 2024-16-05 |
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Won't there just be some sort of coin in the future that's like... 1000 of this coin is backed by 1 sat? | r/bitcoin | Won't there just be some sort of coin in the future that's like... 1000 of this coin is backed by 1 sat? | r/Bitcoin | 2024-20-05 |
You don't want multiple blockchains. There can only be one. | r/bitcoin | You don't want multiple blockchains. There can only be one. | r/Bitcoin | 2024-20-05 |
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Rejection of SAB 121.
Senator Warren lost big today. *(even Senator Schumer voted Yes on this).*
...but then again, Biden has stated he'll veto it :)
Let's watch and see.
Why does this matter for bitcoin? SAB 121 was a slight of hand trick, published by the SEC staff WITHOUT the approval of the majority of the commission. It's the SEC trying to unilaterally impose restrictions on financial institutions on bitcoin and other crypto assets, making it non-viable to do conduct business in this area. It poses a systemic regulatory hurdle for bitcoin adoption. | r/bitcoin | Rejection of SAB 121.
Senator Warren lost big today. *(even Senator Schumer voted Yes on this).*
...but then again, Biden has stated he'll veto it :)
Let's watch and see.
Why does this matter for bitcoin? SAB 121 was a slight of hand trick, published by the SEC staff WITHOUT the approval of the majority of the commission. It's the SEC trying to unilaterally impose restrictions on financial institutions on bitcoin and other crypto assets, making it non-viable to do conduct business in this area. It poses a systemic regulatory hurdle for bitcoin adoption. | r/Bitcoin | 2024-16-05 |
You were right to trust a trustless system. The incentive structure works. It attracts everyone.
The US senate overruled the SEC's decision to deny banks from holding BTC.
937 US companies officially hold BTC ETFs in their balance sheets.
The state of Wisconsin purchased $163 million in bitcoin ETFs in the first quarter.
El Salvador, Lugano have made it legal tender. Suriname is considering it as well.
India is coming around. SEBI is willing to regulate it based on international standards.
Hong Kong ETFs are being presented to mainland China.
None of what is happening now could have been imagined just 5 years ago.
The OGs were right all along. | r/bitcoin | You were right to trust a trustless system. The incentive structure works. It attracts everyone.
The US senate overruled the SEC's decision to deny banks from holding BTC.
937 US companies officially hold BTC ETFs in their balance sheets.
The state of Wisconsin purchased $163 million in bitcoin ETFs in the first quarter.
El Salvador, Lugano have made it legal tender. Suriname is considering it as well.
India is coming around. SEBI is willing to regulate it based on international standards.
Hong Kong ETFs are being presented to mainland China.
None of what is happening now could have been imagined just 5 years ago.
The OGs were right all along. | r/Bitcoin | 2024-16-05 |
I agree. Bribem's fault in all of this is his endless spending that the GOP does nothing to stop. They are both corrupt. People think Nixon's great fault was Watergate. No his real corrupt move was ending the gold standard. If fiat print was tied to the amount of gold the US possessed in Fort Knox we would not be in the situation we are. The fed gov't would have to buy tons of gold to support the obscene level of spending that we're engaged in. It wouldn't be able to do it.
But then again Bitcoin would not be so valuable. So every black cloud has a silver lining. Except this lining is not silver, not gold...but BTC. LOL | r/bitcoin | I agree. Bribem's fault in all of this is his endless spending that the GOP does nothing to stop. They are both corrupt. People think Nixon's great fault was Watergate. No his real corrupt move was ending the gold standard. If fiat print was tied to the amount of gold the US possessed in Fort Knox we would not be in the situation we are. The fed gov't would have to buy tons of gold to support the obscene level of spending that we're engaged in. It wouldn't be able to do it.
But then again Bitcoin would not be so valuable. So every black cloud has a silver lining. Except this lining is not silver, not gold...but BTC. LOL | r/Bitcoin | 2024-20-05 |
You think voting matters? Lmao | r/bitcoin | You think voting matters? Lmao | r/Bitcoin | 2024-21-05 |
Welcome | r/bitcoin | Welcome | r/Bitcoin | 2024-22-05 |
I've seen more of this world that you'll ever see kiddo. I've definitely read more books. **I'm the one who is backing up my opinion with evidence.** You should try it, if you were capable of doing it. Which you're not.
Let's do a recap:
> > Like I said, you dont even know what left and right is.
> Idk man, kinda seems like you don't know as much as you think.
I've provided two links for you to peruse on the etymology of 'left' and 'right' in the context of ideology over literally centuries.
[Here](https://en.m.wikipedia.org/wiki/Left%E2%80%93right_political_spectrum#Origins_in_the_French_Revolution):
> The terms "left" and "right" first appeared during the French Revolution of 1789 when members of the National Assembly divided into supporters of the Ancien Régime to the president's right and supporters of the revolution to his left.
> Various "legislative assemblies" divided themselves during the Revolution, where members with "authoritarian, anti-democratic, or anti-socialist views" sat to the right of the chamber, and those with "liberal, democratic, or [other] egalitarian views" sat on the left
And [here](https://en.m.wikipedia.org/wiki/Libertarianism):
> In the mid-19th century, libertarianism originated as a form of left-wing politics such as anti-authoritarian and anti-state socialists like anarchists, especially social anarchists, but more generally libertarian communists/Marxists and libertarian socialists.
> *The Scottish sociologist Robert M. MacIver noted in The Web of Government (1947):*
> The right is always the party sector associated with the interests of the upper or dominant classes, the left the sector expressive of the lower economic or social classes, and the centre that of the middle classes. Historically this criterion seems acceptable. The conservative right has defended entrenched prerogatives, privileges and powers; the left has attacked them. The right has been more favorable to the aristocratic position, to the hierarchy of birth or of wealth; the left has fought for the equalization of advantage or of opportunity, for the claims of the less advantaged. Defence and attack have met, under democratic conditions, not in the name of class but in the name of principle; but the opposing principles have broadly corresponded to the interests of the different classes.
You don't even know how a dictionary works. Start there or stay at the back of the class, with your back of the class brain, and your back of the class mouth. | r/bitcoin | I've seen more of this world that you'll ever see kiddo. I've definitely read more books. **I'm the one who is backing up my opinion with evidence.** You should try it, if you were capable of doing it. Which you're not.
Let's do a recap:
> > Like I said, you dont even know what left and right is.
> Idk man, kinda seems like you don't know as much as you think.
I've provided two links for you to peruse on the etymology of 'left' and 'right' in the context of ideology over literally centuries.
[Here](https://en.m.wikipedia.org/wiki/Left%E2%80%93right_political_spectrum#Origins_in_the_French_Revolution):
> The terms "left" and "right" first appeared during the French Revolution of 1789 when members of the National Assembly divided into supporters of the Ancien Régime to the president's right and supporters of the revolution to his left.
> Various "legislative assemblies" divided themselves during the Revolution, where members with "authoritarian, anti-democratic, or anti-socialist views" sat to the right of the chamber, and those with "liberal, democratic, or [other] egalitarian views" sat on the left
And [here](https://en.m.wikipedia.org/wiki/Libertarianism):
> In the mid-19th century, libertarianism originated as a form of left-wing politics such as anti-authoritarian and anti-state socialists like anarchists, especially social anarchists, but more generally libertarian communists/Marxists and libertarian socialists.
> *The Scottish sociologist Robert M. MacIver noted in The Web of Government (1947):*
> The right is always the party sector associated with the interests of the upper or dominant classes, the left the sector expressive of the lower economic or social classes, and the centre that of the middle classes. Historically this criterion seems acceptable. The conservative right has defended entrenched prerogatives, privileges and powers; the left has attacked them. The right has been more favorable to the aristocratic position, to the hierarchy of birth or of wealth; the left has fought for the equalization of advantage or of opportunity, for the claims of the less advantaged. Defence and attack have met, under democratic conditions, not in the name of class but in the name of principle; but the opposing principles have broadly corresponded to the interests of the different classes.
You don't even know how a dictionary works. Start there or stay at the back of the class, with your back of the class brain, and your back of the class mouth. | r/Bitcoin | 2024-23-05 |
r/bitcoin | r/Bitcoin | 2024-16-05 |
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Mostly Bitcoin, but I believe there is enough room for other projects in the future. That’s a whole other conversation though… | r/bitcoin | Mostly Bitcoin, but I believe there is enough room for other projects in the future. That’s a whole other conversation though… | r/Bitcoin | 2024-20-05 |
r/bitcoin | r/Bitcoin | 2024-16-05 |
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Nope, Biden will forget how to divide 2/3 and think it is a ABCs | r/bitcoin | Nope, Biden will forget how to divide 2/3 and think it is a ABCs | r/Bitcoin | 2024-20-05 |
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For testing purposes. | r/bitcoin | For testing purposes. | r/Bitcoin | 2024-04-06 |
DAMN | r/bitcoin | DAMN | r/Bitcoin | 2024-07-06 |
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Bullish! | r/bitcoin | Bullish! | r/Bitcoin | 2024-16-05 |
You don’t need to print cash. You can have a fixed supply of Bitcoin-backed paper notes or digital tokens. | r/bitcoin | You don’t need to print cash. You can have a fixed supply of Bitcoin-backed paper notes or digital tokens. | r/Bitcoin | 2024-20-05 |
Right direction, a little too far. End the Fed, set term limits on Congress. | r/bitcoin | Right direction, a little too far. End the Fed, set term limits on Congress. | r/Bitcoin | 2024-23-05 |
Taxing all billionaires in America at 100% of their income would not pay for medicare/medicaid for a single year. | r/bitcoin | Taxing all billionaires in America at 100% of their income would not pay for medicare/medicaid for a single year. | r/Bitcoin | 2024-25-05 |
and until they do, what is the simplest option for me??
please—-id you have an idea, weigh in.
.
im older and just not a tech guy. I am competent at many things, and even impressive at a few others.
but modern tech often confounds and frustrates me. i want to throw my phone in the river half the time.
im not stupid though, and have been DCA modestly for a while now.
i understand the importance of getting BTC off exchange into wallet but when I read about it i clearly see it is likely to
go poorly for me.
an idiot proof wallet would be am amazing success.
is it even possible?
again, if you have a recommendation for the easiest wallet , i need the help.
| r/bitcoin | and until they do, what is the simplest option for me??
please—-id you have an idea, weigh in.
.
im older and just not a tech guy. I am competent at many things, and even impressive at a few others.
but modern tech often confounds and frustrates me. i want to throw my phone in the river half the time.
im not stupid though, and have been DCA modestly for a while now.
i understand the importance of getting BTC off exchange into wallet but when I read about it i clearly see it is likely to
go poorly for me.
an idiot proof wallet would be am amazing success.
is it even possible?
again, if you have a recommendation for the easiest wallet , i need the help.
| r/Bitcoin | 2024-17-05 |
You can set the cards up with a recovery seed phrase, either 12 or 24 words. And also add a pass phrase after set up for added security. Oh and you can use biometrics too like Face ID instead of putting in your pass phrase every time | r/bitcoin | You can set the cards up with a recovery seed phrase, either 12 or 24 words. And also add a pass phrase after set up for added security. Oh and you can use biometrics too like Face ID instead of putting in your pass phrase every time | r/Bitcoin | 2024-20-05 |
Tangem Wallet been by far the easiest I’ve used. Ledger more difficult than trezor (I do like trezor) to me. And tangem just like credit card u sync to your phone and have 1 or 2 backups. Even switched phones recently and transitioned to new one. Have a seedless set and one that has seed. Watch crypto Casey on YouTube or cryptodad has a lot of videos on wallets. Good luck! None are idiot proof. And wouldn’t put all stash in one place unless like I read earlier sum people just buy the funds. | r/bitcoin | Tangem Wallet been by far the easiest I’ve used. Ledger more difficult than trezor (I do like trezor) to me. And tangem just like credit card u sync to your phone and have 1 or 2 backups. Even switched phones recently and transitioned to new one. Have a seedless set and one that has seed. Watch crypto Casey on YouTube or cryptodad has a lot of videos on wallets. Good luck! None are idiot proof. And wouldn’t put all stash in one place unless like I read earlier sum people just buy the funds. | r/Bitcoin | 2024-20-05 |
Would you consider the LedgerNano to be an okay alternative? | r/bitcoin | Would you consider the LedgerNano to be an okay alternative? | r/Bitcoin | 2024-24-05 |
Yeah, I don’t doubt that could be the case, but the clincher for me was when I signed up for a private account, and was assigned an actual person that I could text, and actually speak on the phone with. I’ve been with Coinbase, Kraken, Binance, and probably a half dozen, others, and human interaction is now nonexistent. I can pretty much deal with, and tolerate any kind of problem, as long as I know, a human is actually working to resolve it. | r/bitcoin | Yeah, I don’t doubt that could be the case, but the clincher for me was when I signed up for a private account, and was assigned an actual person that I could text, and actually speak on the phone with. I’ve been with Coinbase, Kraken, Binance, and probably a half dozen, others, and human interaction is now nonexistent. I can pretty much deal with, and tolerate any kind of problem, as long as I know, a human is actually working to resolve it. | r/Bitcoin | 2024-27-05 |
Did she respond? lol | r/bitcoin | Did she respond? lol | r/Bitcoin | 2024-20-05 |
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I've started buying a decent amount of BTC each week and have decided, as l have a habit of messing things up, l would rather gamble leaving in on the exchange than worrying about keeping codes. If l get hacked or whatever, so be it.
So far l have just been using Coinbase but my question is please, which exchanges do think are the "safest" to spread the funds around or am l probably better off just leaving it all in Coinbase?
Thanks. | r/bitcoin | I've started buying a decent amount of BTC each week and have decided, as l have a habit of messing things up, l would rather gamble leaving in on the exchange than worrying about keeping codes. If l get hacked or whatever, so be it.
So far l have just been using Coinbase but my question is please, which exchanges do think are the "safest" to spread the funds around or am l probably better off just leaving it all in Coinbase?
Thanks. | r/Bitcoin | 2024-17-05 |
CoinBase has just been around a long time. Their higher-ups have connections and have worked with the government in some capacity. I just don’t see them failing compared to some of these other exchanges that haven’t been around long (or don’t have the resources CB has). This is just purely my opinion though. If things get REALLY bad (economy takes a MASSIVE hit and we go into some kind of recession/depression), anything can happen though… so I’m not saying CoinBase is untouchable.
As far as buying from a stock broker platform…. I’m assuming you’re talking about buying a Bitcoin ETF?? That is probably even safer, as your money is most likely insured (not sure how all that works), but I like CoinBase because I can easily swap my crypto and also buy/sell crypto other than BTC on the exchange. I use my retirement account to DCA on a couple BTC ETFs on top of buying BTC on CoinBase because I want BTC tied to my retirement as well. | r/bitcoin | CoinBase has just been around a long time. Their higher-ups have connections and have worked with the government in some capacity. I just don’t see them failing compared to some of these other exchanges that haven’t been around long (or don’t have the resources CB has). This is just purely my opinion though. If things get REALLY bad (economy takes a MASSIVE hit and we go into some kind of recession/depression), anything can happen though… so I’m not saying CoinBase is untouchable.
As far as buying from a stock broker platform…. I’m assuming you’re talking about buying a Bitcoin ETF?? That is probably even safer, as your money is most likely insured (not sure how all that works), but I like CoinBase because I can easily swap my crypto and also buy/sell crypto other than BTC on the exchange. I use my retirement account to DCA on a couple BTC ETFs on top of buying BTC on CoinBase because I want BTC tied to my retirement as well. | r/Bitcoin | 2024-20-05 |
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So bow down to your new overlord? Who the fuck cares | r/bitcoin | So bow down to your new overlord? Who the fuck cares | r/Bitcoin | 2024-21-05 |
Been DCAing since 15k . Tons of random money. Spare change and chunks from my checks. | r/bitcoin | Been DCAing since 15k . Tons of random money. Spare change and chunks from my checks. | r/Bitcoin | 2024-22-05 |
Does it work with the phoenix wallet? | r/bitcoin | Does it work with the phoenix wallet? | r/Bitcoin | 2024-08-06 |
That's a shame. It seems a high bar for small casual miners to have to setup their own node to receive a few sats. | r/bitcoin | That's a shame. It seems a high bar for small casual miners to have to setup their own node to receive a few sats. | r/Bitcoin | 2024-09-06 |
I have a lot of money stuck there. Is there any update on this? I know its insured and all but i really need my cash right now and i am concerned about the slow process. Looks like its gonna take a while for this to settle. | r/bitcoin | I have a lot of money stuck there. Is there any update on this? I know its insured and all but i really need my cash right now and i am concerned about the slow process. Looks like its gonna take a while for this to settle. | r/Bitcoin | 2024-25-05 |
will I get the money if i were to close the account? I am more than happy to cut loses and close the account. | r/bitcoin | will I get the money if i were to close the account? I am more than happy to cut loses and close the account. | r/Bitcoin | 2024-25-05 |
If everything goes down forever would it be always better to rent out an house? What sitiuation would be better to buy an house? | r/bitcoin | If everything goes down forever would it be always better to rent out an house? What sitiuation would be better to buy an house? | r/Bitcoin | 2024-17-05 |
Ok but what company, exchange is doing this? | r/bitcoin | Ok but what company, exchange is doing this? | r/Bitcoin | 2024-20-05 |
This is an amazing writeup. My daughter and her husband stayed with his family for 8 years trying to save money. By the end they had save $50K. But housing prices had 3X by then. Their savings didn't even cover a down payment anymore. | r/bitcoin | This is an amazing writeup. My daughter and her husband stayed with his family for 8 years trying to save money. By the end they had save $50K. But housing prices had 3X by then. Their savings didn't even cover a down payment anymore. | r/Bitcoin | 2024-24-05 |
Cheers, glad I could share a new way of thinking. If you haven’t already make sure to watch the clip linked at the bottom. | r/bitcoin | Cheers, glad I could share a new way of thinking. If you haven’t already make sure to watch the clip linked at the bottom. | r/Bitcoin | 2024-24-05 |
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Ok, I just bought a coffee and alfajor for 0.00009214 BTC in Buenos Aires.
It may be nothing but feels like entering a new world. | r/bitcoin | Ok, I just bought a coffee and alfajor for 0.00009214 BTC in Buenos Aires.
It may be nothing but feels like entering a new world. | r/Bitcoin | 2024-17-05 |
# [https://www.btcminer.bio/21479167](https://www.btcminer.bio/21479167) Mining Easy Just Try it Its Free. | r/bitcoin | # [https://www.btcminer.bio/21479167](https://www.btcminer.bio/21479167) Mining Easy Just Try it Its Free. | r/Bitcoin | 2024-24-05 |
Yes I have most of my net worth in Bitcoin. | r/bitcoin | Yes I have most of my net worth in Bitcoin. | r/Bitcoin | 2024-22-05 |
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How would you connect with wallet on testnet? APIs? | r/bitcoin | How would you connect with wallet on testnet? APIs? | r/Bitcoin | 2024-20-05 |
Very cool! Like I told OP, I've gone far enough to satisfy my own curiosity and probably won't dive much deeper. | r/bitcoin | Very cool! Like I told OP, I've gone far enough to satisfy my own curiosity and probably won't dive much deeper. | r/Bitcoin | 2024-20-05 |
Game theory: A theoretical framework for conceiving situations among competing players.
With the introduction of Bitcoin ETFs, institutions have run out of reasons to say no to sound money
Source: @macromule twitter | r/bitcoin | Game theory: A theoretical framework for conceiving situations among competing players.
With the introduction of Bitcoin ETFs, institutions have run out of reasons to say no to sound money
Source: @macromule twitter | r/Bitcoin | 2024-17-05 |
r/bitcoin | r/Bitcoin | 2024-17-05 |
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Now Funds, ETFs etc own ₿ 999,071 or 4,76% of the circulating supply!
Cheers 🥂 | r/bitcoin | Now Funds, ETFs etc own ₿ 999,071 or 4,76% of the circulating supply!
Cheers 🥂 | r/Bitcoin | 2024-17-05 |
So $14 at the current rate on top of $2. So that's approximately $32 per round trip. Better than $50 but still! | r/bitcoin | So $14 at the current rate on top of $2. So that's approximately $32 per round trip. Better than $50 but still! | r/Bitcoin | 2024-21-05 |
I don't get your roundtrip calculation.
Are you trying to calculate what it costs to wire $500, exchange for bitcoin, send it to your wallet, send it back to the exchange, exchange for dollars and send it back to your bank account?
That sending from your wallet to kraken won't cost 0.0002 BTC. The sender sets appropriate fees which vary constantly, currently its \~$1. Fiat withdrawal won't cost you anything as well (at least its free for my bank account).
So the "roundtrip" costs are motre like 2+14+1+2 = $19...
However, more important question is why calculate toundtrips anyway? If you are going to trade frequently you could simply keep it at the exchange. If you are not going to trade frequently but say in a year, most fees will have changed by then - so calculating current costs is meaningless.
And there is a third way: depending on your definition of self custody you could withdraw your 500 bucks of bitcoin to eg Aqua lightning wallet and from there back to kraken which will cost you $0.20 which would change your roundtrip calculation to 2+0.2+2 = $4.20 | r/bitcoin | I don't get your roundtrip calculation.
Are you trying to calculate what it costs to wire $500, exchange for bitcoin, send it to your wallet, send it back to the exchange, exchange for dollars and send it back to your bank account?
That sending from your wallet to kraken won't cost 0.0002 BTC. The sender sets appropriate fees which vary constantly, currently its \~$1. Fiat withdrawal won't cost you anything as well (at least its free for my bank account).
So the "roundtrip" costs are motre like 2+14+1+2 = $19...
However, more important question is why calculate toundtrips anyway? If you are going to trade frequently you could simply keep it at the exchange. If you are not going to trade frequently but say in a year, most fees will have changed by then - so calculating current costs is meaningless.
And there is a third way: depending on your definition of self custody you could withdraw your 500 bucks of bitcoin to eg Aqua lightning wallet and from there back to kraken which will cost you $0.20 which would change your roundtrip calculation to 2+0.2+2 = $4.20 | r/Bitcoin | 2024-22-05 |
The dream of having enough money behind me that I can refuse to do certain jobs for certain people and say, nah! To people who use and abuse me and watch their faces look back shocked is what keeps me going on days like this.
Much love. Keep stacking. One day. One day. | r/bitcoin | The dream of having enough money behind me that I can refuse to do certain jobs for certain people and say, nah! To people who use and abuse me and watch their faces look back shocked is what keeps me going on days like this.
Much love. Keep stacking. One day. One day. | r/Bitcoin | 2024-17-05 |
If I sell BTC does the IRS only tax the profit? | r/bitcoin | If I sell BTC does the IRS only tax the profit? | r/Bitcoin | 2024-18-05 |
The energy grid is a network that delivers electricity from power plants to consumers. Bitcoin mining uses a lot of energy. While some say it can help absorb excess renewable energy, it also creates constant high demand, potentially straining the grid.
It's a complex issue! | r/bitcoin | The energy grid is a network that delivers electricity from power plants to consumers. Bitcoin mining uses a lot of energy. While some say it can help absorb excess renewable energy, it also creates constant high demand, potentially straining the grid.
It's a complex issue! | r/Bitcoin | 2024-21-05 |
These damn coats are so restrictive. | r/bitcoin | These damn coats are so restrictive. | r/Bitcoin | 2024-21-05 |
r/bitcoin | r/Bitcoin | 2024-18-05 |
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10k Gang | r/bitcoin | 10k Gang | r/Bitcoin | 2024-21-05 |
Please utilize this sticky thread for all general **Bitcoin** discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!
If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.
Please check the [previous discussion thread](https://www.reddit.com/r/Bitcoin/comments/1cty74u/daily_discussion_may_17_2024/) for unanswered questions. | r/bitcoin | Please utilize this sticky thread for all general **Bitcoin** discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!
If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.
Please check the [previous discussion thread](https://www.reddit.com/r/Bitcoin/comments/1cty74u/daily_discussion_may_17_2024/) for unanswered questions. | r/Bitcoin | 2024-18-05 |
r/bitcoin | r/Bitcoin | 2024-18-05 |
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r/bitcoin | r/Bitcoin | 2024-18-05 |
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So who creates a time traveler? | r/bitcoin | So who creates a time traveler? | r/Bitcoin | 2024-20-05 |
I had to stop and think about this for a bit. What a great point. I wholeheartedly agree with this. Thank you for sharing. | r/bitcoin | I had to stop and think about this for a bit. What a great point. I wholeheartedly agree with this. Thank you for sharing. | r/Bitcoin | 2024-21-05 |
in 10 years, that pain will belong to those who sold at 72k | r/bitcoin | in 10 years, that pain will belong to those who sold at 72k | r/Bitcoin | 2024-21-05 |
Was that the year Wendy’s dumpster was introduced? | r/bitcoin | Was that the year Wendy’s dumpster was introduced? | r/Bitcoin | 2024-22-05 |
Learning about Silicon Valley Bank and how they went under because of their exposure to treasuries highlights how poorly banks mitigate risk.
SVB had a significant amount of treasuries on their balance sheet. The increase in interest rates caused their treasuries to depreciate in value.
This isn't necessarily a problem as long as the treasuries are held to maturity.
But of course, a bank run started and in order to facilitate withdrawals they needed to sell those treasuries at a loss. And when many people withdrew at once, this cumulative loss grew exponentially ultimately collapsing the bank.
I'm sure I didn't explain this correctly but my take away from that event is that banks hold assets as a means to be solvent and that fluctuating prices can introduce risk.
Because of the hardness of bitcoin, it is much harder to hide and remedy losses on a bank's balance sheet.
This is not an anti-bitcoin post, this is more just thinking about how banks will hold bitcoin in a way that doesn't screw over people.
SVB had a relatively simple solution, just make depositors whole (no big deal).
But looking at how the FTX payout is occurring, people are getting made whole in dollar terms. This may be the precedent moving forward.
I can already hear people smashing their keyboards "This is a non-issue for self-custody, ya dingus!"
Banks still facilitate loans, they are an essential part of our economy. I don't believe banks go extinct anytime soon.
What happens if these banks mismanage their bitcoin holdings?
Bitcoin is "honest money"
What I mean by that is that it's not gold in vault, "Trust me bro, it's not tungsten"
Or manipulating assets to give the appearance that a bank's balance sheet is healthy. "Bro we have 500 houses in collateral, we're good! Where? Oh uh... Detroit, we bought them in 1994".
Or just the simple bureaucracy is enough to hide balance sheet holes.
"We have a 25 million dollar hole, thank God it's Friday! We'll be fine on Monday!"
Having a transparent, digitally native, asset that trades 24/7 will make irresponsible banks collapse within minutes.
Hooray! Those dumbasses get what they deserve!
Not so fast!
I truly believe when some of these banks collapse it will be extremely painful for their customers and who is the scapegoat?
Bitcoin.
I can already hear the news soundbites "Bitcoin causes bank collapse, thousands lose life savings!"
This will be the next level of bullshit that bitcoin will face and because people don't understand nuance they will vehemently condemn bitcoin.
I think this will be the ugliest part of bitcoin's adoption because the people who don't even have bitcoin become vulnerable to these irresponsible banks.
The blame will most certainly be foisted onto bitcoin again.
I just feel this in my bones. This is the next "It's so over 😢" phase of bitcoin.
SVB couldn't mitigate risk holding treasuries, what does that say about other assets? | r/bitcoin | Learning about Silicon Valley Bank and how they went under because of their exposure to treasuries highlights how poorly banks mitigate risk.
SVB had a significant amount of treasuries on their balance sheet. The increase in interest rates caused their treasuries to depreciate in value.
This isn't necessarily a problem as long as the treasuries are held to maturity.
But of course, a bank run started and in order to facilitate withdrawals they needed to sell those treasuries at a loss. And when many people withdrew at once, this cumulative loss grew exponentially ultimately collapsing the bank.
I'm sure I didn't explain this correctly but my take away from that event is that banks hold assets as a means to be solvent and that fluctuating prices can introduce risk.
Because of the hardness of bitcoin, it is much harder to hide and remedy losses on a bank's balance sheet.
This is not an anti-bitcoin post, this is more just thinking about how banks will hold bitcoin in a way that doesn't screw over people.
SVB had a relatively simple solution, just make depositors whole (no big deal).
But looking at how the FTX payout is occurring, people are getting made whole in dollar terms. This may be the precedent moving forward.
I can already hear people smashing their keyboards "This is a non-issue for self-custody, ya dingus!"
Banks still facilitate loans, they are an essential part of our economy. I don't believe banks go extinct anytime soon.
What happens if these banks mismanage their bitcoin holdings?
Bitcoin is "honest money"
What I mean by that is that it's not gold in vault, "Trust me bro, it's not tungsten"
Or manipulating assets to give the appearance that a bank's balance sheet is healthy. "Bro we have 500 houses in collateral, we're good! Where? Oh uh... Detroit, we bought them in 1994".
Or just the simple bureaucracy is enough to hide balance sheet holes.
"We have a 25 million dollar hole, thank God it's Friday! We'll be fine on Monday!"
Having a transparent, digitally native, asset that trades 24/7 will make irresponsible banks collapse within minutes.
Hooray! Those dumbasses get what they deserve!
Not so fast!
I truly believe when some of these banks collapse it will be extremely painful for their customers and who is the scapegoat?
Bitcoin.
I can already hear the news soundbites "Bitcoin causes bank collapse, thousands lose life savings!"
This will be the next level of bullshit that bitcoin will face and because people don't understand nuance they will vehemently condemn bitcoin.
I think this will be the ugliest part of bitcoin's adoption because the people who don't even have bitcoin become vulnerable to these irresponsible banks.
The blame will most certainly be foisted onto bitcoin again.
I just feel this in my bones. This is the next "It's so over 😢" phase of bitcoin.
SVB couldn't mitigate risk holding treasuries, what does that say about other assets? | r/Bitcoin | 2024-18-05 |
and that's assuming the price doesn't go up. | r/bitcoin | and that's assuming the price doesn't go up. | r/Bitcoin | 2024-18-05 |
Not just in fiat terms but in terms of purchasing power, which is more important | r/bitcoin | Not just in fiat terms but in terms of purchasing power, which is more important | r/Bitcoin | 2024-21-05 |
Well, if that were to happen, I'd be a Millionaire amongst them. | r/bitcoin | Well, if that were to happen, I'd be a Millionaire amongst them. | r/Bitcoin | 2024-21-05 |
On the Bitcoin Talk forum, he offered 10,000 BTC to whoever would deliver him a couple pizzas (and, as would later be known, receive them, which would later become Pizza Day or Pizza Day)
His bitcoins would be worth $670 million today | r/bitcoin |
On the Bitcoin Talk forum, he offered 10,000 BTC to whoever would deliver him a couple pizzas (and, as would later be known, receive them, which would later become Pizza Day or Pizza Day)
His bitcoins would be worth $670 million today | r/Bitcoin | 2024-18-05 |
r/bitcoin | r/Bitcoin | 2024-18-05 |
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After reading a bit, I've noticed some saying that Bitcoin is better than other alt coins. Why is this so? | r/bitcoin | After reading a bit, I've noticed some saying that Bitcoin is better than other alt coins. Why is this so? | r/Bitcoin | 2024-18-05 |
Bitcoin is often considered superior due to its decentralization, security, and widespread adoption. It was the first cryptocurrency and has the largest market cap, making it more recognized and accepted globally. Also, its network is more secure due to the high amount of computational power dedicated to it. However, other cryptocurrencies have their own unique features and use cases, so it's not a one-size-fits-all situation. It's always good to do your own research and understand what you're investing in. | r/bitcoin | Bitcoin is often considered superior due to its decentralization, security, and widespread adoption. It was the first cryptocurrency and has the largest market cap, making it more recognized and accepted globally. Also, its network is more secure due to the high amount of computational power dedicated to it. However, other cryptocurrencies have their own unique features and use cases, so it's not a one-size-fits-all situation. It's always good to do your own research and understand what you're investing in. | r/Bitcoin | 2024-21-05 |
r/bitcoin | r/Bitcoin | 2024-18-05 |
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i know | r/bitcoin | i know | r/Bitcoin | 2024-20-05 |
Let's say I buy some non-kyc bitcoin off of Bisq. How do I know that it is non-kyc? Couldn't someone in theory just purchase KYC bitcoin and then sell it on Bisq? Does this really make it non-kyc because the exchange doesn't have my info? Wouldn't the gov't just be able to go after the person that bought it on the kyc exchange then trace it back to me?
If that is the case, couldn't I just have a family member buy me bitcoin then transfer it to me and then poof it's non-kyc? I've been really wanting to get into non-kyc bitcoin but the above questions keep popping up in my head. Can anyone explain?
EDIT: I feel like there is a misunderstanding of what I'm asking. I'm really talking more about the properties of a non-kyc vs kyc coin. Based on the sassy replies it would seem like there is no difference in the properties between the two? The only difference is that a non-kyc has no paper trail from a CEX that I bought it? So then I could just have my brother buy it from a KYC exchange, send it to me, and now it's non-kyc because I didn't buy it from the CEX? | r/bitcoin | Let's say I buy some non-kyc bitcoin off of Bisq. How do I know that it is non-kyc? Couldn't someone in theory just purchase KYC bitcoin and then sell it on Bisq? Does this really make it non-kyc because the exchange doesn't have my info? Wouldn't the gov't just be able to go after the person that bought it on the kyc exchange then trace it back to me?
If that is the case, couldn't I just have a family member buy me bitcoin then transfer it to me and then poof it's non-kyc? I've been really wanting to get into non-kyc bitcoin but the above questions keep popping up in my head. Can anyone explain?
EDIT: I feel like there is a misunderstanding of what I'm asking. I'm really talking more about the properties of a non-kyc vs kyc coin. Based on the sassy replies it would seem like there is no difference in the properties between the two? The only difference is that a non-kyc has no paper trail from a CEX that I bought it? So then I could just have my brother buy it from a KYC exchange, send it to me, and now it's non-kyc because I didn't buy it from the CEX? | r/Bitcoin | 2024-18-05 |
I mean, is there a known marketplace like an Amazon or such where users trade goods for bitcoin.
And, this as a separate question, does anyone have any good experience on trading professional services for bitcoin. I am a an acceptable Data Engineer with some experience with Python. Is there a place where you can go and find requests or post offers? Thanks. | r/bitcoin | I mean, is there a known marketplace like an Amazon or such where users trade goods for bitcoin.
And, this as a separate question, does anyone have any good experience on trading professional services for bitcoin. I am a an acceptable Data Engineer with some experience with Python. Is there a place where you can go and find requests or post offers? Thanks. | r/Bitcoin | 2024-18-05 |
OpenBazaar and Bitify come to mind. And for your skills as a Data Engineer, there are job boards like [Crypto.jobs](http://Crypto.jobs) and Coinality where gigs pay in Bitcoin. You might just find your next project there. | r/bitcoin | OpenBazaar and Bitify come to mind. And for your skills as a Data Engineer, there are job boards like [Crypto.jobs](http://Crypto.jobs) and Coinality where gigs pay in Bitcoin. You might just find your next project there. | r/Bitcoin | 2024-21-05 |
Blast from the past, 11 years ago, who wishes they would have bought BTC at $70 to $200 back then? | r/bitcoin | Blast from the past, 11 years ago, who wishes they would have bought BTC at $70 to $200 back then? | r/Bitcoin | 2024-18-05 |
Yeah, I loved that Rebel Capitalists live streaming that George did through Argentina. "Boots on the Ground" shows how early we still are in Bitcoin adoption. | r/bitcoin | Yeah, I loved that Rebel Capitalists live streaming that George did through Argentina. "Boots on the Ground" shows how early we still are in Bitcoin adoption. | r/Bitcoin | 2024-16-06 |
I want my own "chain?" on the external HD. I know that is unpopular, but my desire. I know windows 10 is hackable so being the cheapskate I am, I was leaning toward booting on usb stick alone. I will write stuff on paper. Suggestions? | r/bitcoin | I want my own "chain?" on the external HD. I know that is unpopular, but my desire. I know windows 10 is hackable so being the cheapskate I am, I was leaning toward booting on usb stick alone. I will write stuff on paper. Suggestions? | r/Bitcoin | 2024-18-05 |