Monday, 30 November 2020
Coinbase is closing my account and customer support is not replying to my emails about my missing funds.
All of us, to everyone.
Submitted December 01, 2020 at 02:08AM by benperrin117 https://bit.ly/3lqMCT8
Let it be known that on this day, Cypher Monday, 11/30/20, at approximately 10:15 AM, Eastern time. EVERY Bitcoin Hodler in the world had turned a profit. Congratulations.
Now that we've finally broken ATH can we please shut the f up and drive this baby to 100k.... quietly?
Bitcoin surpasses JPMorgan again, Visa is now the only financial service company with a higher Market Cap
Submitted November 30, 2020 at 11:22PM by pandoira https://bit.ly/3qgv2oA
WARNING: Paxful is aggressively KYC and doesn't warn users until AFTER depositing bitcoin their funds will be locked until verification is completed
Bitcoin reached the new ATH after 1079 days and 84% correction
MicroStrategy stock at a 20 year ATH, $310!!! - well played Michael
Submitted November 30, 2020 at 10:45PM by trakatan https://bit.ly/2HScycI
Soon enough
Bitcoin moves back into the Top 15 U.S. traded assets by market cap, less than $200B from Top 10!
Can you feel it bros?
Make Most of the Gains With None of the Stress: Join HODL Gang Today
Seeing a lot of new users asking about how to make some profits with Bitcoin. You’ll find that 98% of Bitcoiners agree, join HODL Gang today.
What’s HODL? Simply put, it’s an investing strategy of buying and holding without monitoring trends or otherwise timing the market.
Why HODL? For all the reasons you’re here, because Bitcoin is in an immensely bullish position. Also, because the global market for Bitcoin is one of the most opaque markets that has ever existed. Trading in and out of the Bitcoin market is nothing short of gambling for 99.99% of us.
When to start your HODL? Today. Consider using Dollar Cost Averaging (DCA) by buying a small amount of Bitcoin every day, week, or month. For example, instead of piling in 20K today, go ahead and do 2K each month for the next ten months.
Why DCA? Because it gives you time to learn and to build confidence. Bitcoin corrections are painful for investors who lack confidence. Many will sell a panic floor because they are unable to believe in an investment they still need time to fully understand. People spread disinformation during our weakest moments and you need to be able to judge what’s true and what’s FUD. You could potential maximum profits by piling all of your investment in today, but you’ll have a healthier relationship if you take your time, become conditioned to the swings, and study up.
When to sell? HODL Gang dreams of living off the interest of their Bitcoin as liquidity markets mature. If you feel it’s time to sell, as with making your initial investment, consider DCA. Your 20k became 49k and that feels like a huge run, your confidence is down because of some piece of news you read, instead of selling your 49K today, sell 4K each month. You might be surprised at how quickly you revert to buying.
What if I have a health emergency? Sell and take care of yourself. Health comes first. This isn’t a cult. The excitement you see here is largely from users like me, who spent years studying Global Finance and who one day began to truly see the innovations of Bitcoin. This dream is bigger than you probably realize at right now. Remember, health comes first!
What if I need to pay off high interest credit cards? This is tricker, you might kick yourself later, but I recommend selling for this purpose. A 22% interest rate is insane and abusive, terminate that relationship and restart your Bitcoin DCA buying after.
Should I mortgage my house? This is even trickier to answer. First, because I don’t give high risk investing advice to strangers. Second, because interest rates are so low that the mortgage cash will almost certainly earn more in Bitcoin than it will cost in interest. For posterity I have to discourage this plan. You need a place to sleep, to have peace, and to be healthy. I’d recommend sticking to DCA but I won’t discourage you from crunching your own numbers and making your own well informed choice.
Does OP put their money where their mouth is? No my mouth is on my face or buried in some tang. I put my money in my hardware wallet and HODL that shit.
Any questions? Contributions?
Submitted November 30, 2020 at 09:50AM by ChTender https://bit.ly/3fQaqi5
I made this for 20K, but can't wait anymore :-) [OC]
Kraken is closing my account with no reason after I asked them my sepa transfers are missing.
Hello guys,
(Ticket 3523248)
TL:DR = Kraken is closing my account without telling me why and are sending contradictory answers to my missing sepa transfer.
I'll explain the situation real quick :
I, an european, did a sepa transfer in my kraken account 10 days ago.
Not seeing anything on account, after the 5th day, I send a request to kraken support to help me.
They don't find anything, we discuss during 5 days. They told me they are not finding anything under my name the 9th day.
The 10th day -today- I told them I might have found the problem : I didn't put the reference in my transfer because there wasn't any location where I could put this info.
And then, I received a complete mayhem of answers, within 2 hours :
The first one tell me that my issue was sent to the Payments team for further review = they don't know yet what's going on.
Second one, the weird one, the support tell me, out of nowhere, that my account is going to be closed and I need to take back my crypto. I don't even know why :
Third email, the exact same person told me that they may have find it but the transfer is not exactly the amount I talked about -even though I said I sent a first transfer 19th november and another one 24th of November :
Third email, 3 minutes after the 2nd one.
What is going on ? How am I suppose to send a picture of a deposit I don't even see in my kraken account. And I already send them a picture of the deposit on my bank account.
Can someone tell me if it has already happened to you or someone you know pls ? For what reason Kraken can close my account without my consent as I didn't do anything wrong -My account is not even big, I'm a poor student. What happened if I don't send my crypto within the 78 hours, do I loose them ?
I even contacted the online live support, they told me they weren't "allowed to talk about it".
It's very concerning for any Kraken user.
Submitted November 30, 2020 at 02:51AM by Strikaos https://bit.ly/2KQkBYO
A Note About Bitcoin by James O'Beirne
Mentor Monday, November 30, 2020: Ask all your bitcoin questions!
Bitcoiners are so lucky
Submitted November 30, 2020 at 02:48PM by Beneficial-Edge-981 https://bit.ly/2VjskAp
Phone battery is always dead
Submitted November 30, 2020 at 12:11PM by skatermofo101 https://bit.ly/2KIZ0Bk
Bitcoiners are so lucky
Sunday, 29 November 2020
Gary Vee on Barstool Sports talking about Bitcoin 😂
Submitted November 30, 2020 at 08:51AM by SwissCheezee https://bit.ly/33vab7c
Daily Discussion, November 30, 2020
Make Most of the Gains With None of the Stress: Join HODL Gang Today
Phone battery is always dead
Best thing about Bitcoin is it trades 24/7/365. There is no waiting for markets to open and it makes stock trading look like a legacy platform.
Stocks and shares trading happens at a snail pace in comparison. News get released at the end of the trading day to let the market adjust before trading restarts. Bitcoin reacts in real time to news and adjusts, this means it is more volition but it is real time sentiment. This also means it is a lot more engaging, IMHO.
Submitted November 30, 2020 at 09:06AM by hendnova212 https://bit.ly/3moLoZW
Volatility when BTC reaches 100-200k
So I’ve been thinking about this, and it seems to me that by the time BTC reaches 100k, the chance of the coin dropping by 50% suddenly becomes exceedingly low, since most of the market cap would come from institutions and smart money, rather than speculators and retail investors.
At that point, there should only be upside potential, as we move towards global adoption. That’s the point when it becomes a store of value rather than a “speculative investment”
Is this reasoning sensible?
Submitted November 30, 2020 at 03:15AM by dogefellowship https://bit.ly/2KNbVlP
Bitcoin stock to flow model.
Submitted November 30, 2020 at 05:28AM by dan_held https://bit.ly/2VjUHhO
Gary Vee on Barstool Sports talking about Bitcoin 😂
Best thing about Bitcoin is it trades 24/7/365. There is no waiting for markets to open and it makes stock trading look like a legacy platform.
Anyone else noticed a distinct increase in FUD posts?
Seeing lots of the "What if the internet crashed completely" type fud posts, putting my tinfoil hat squarely on my head as backup to my faraday cage bedroom, i'm gonna say "It seems coordinated!"
Submitted November 30, 2020 at 12:15AM by bell2366 https://bit.ly/2Vj0Cni
You May Not Realize It Now, but There Is No Alternative to Bitcoin for Your Future
Submitted November 30, 2020 at 12:56AM by sylsau https://bit.ly/2Jt6jfL
People are talking
Bitcoin stock to flow model.
Don't torture yourself for the price you buy. I can almost guarantee it's cheaper than a year from now... Probably tenfold.
$17,700, nov 28, just for reference :-)
Submitted November 29, 2020 at 06:24AM by idontlikepeoplemuch5 https://bit.ly/2Vb5RWg
Guggenheim follows other institutionals by seeking investment exposure to Bitcoin
Anyone else noticed a distinct increase in FUD posts?
The Battle For World Reserve Currency
Submitted November 29, 2020 at 08:22AM by BITCOINMOVIECLIPS https://bit.ly/3fKoEkJ
274 BTC were traded in Venezuela using LocalBitcoin (last week, lowest since 2018), down from 286. That equals 3,585,000,000,000 Bs. (ATH in Bolivares again in Venezuelan currency "VES"), traded volume is a constant USD amount. One BTC is around 18,300,000,000 Bs. Monthly minimum wage is 1.20 USD.
My idea for the Satoshi symbol
Great Bitcoin moment in a show Hoops
Submitted November 29, 2020 at 02:57PM by Andrzej11 https://bit.ly/3lkr6zo
Bitcoin is the first infinitely divisible truly-scarce digital real-estate that easily can be transferred to anyone in the world without relying on trusted parties. Its price is driven by both demand from those who believe in its utility and the cost required to produce and maintain it.
Guggenheim Fund Files to Be Able to Invest Up to Almost $500M in Bitcoin Through GBTC
Submitted November 29, 2020 at 10:35AM by ProductDude https://bit.ly/37itcLb
Guggenheim opens door to bitcoin exposure for $5 billion macro fund via Grayscale GBTC product
Submitted November 29, 2020 at 09:58AM by StevenRad https://bit.ly/3mhe8Us
Great Bitcoin moment in a show Hoops
Saturday, 28 November 2020
Daily Discussion, November 29, 2020
Here's to 13 years on Reddit🍻
Submitted November 29, 2020 at 06:09AM by 0rbytal https://bit.ly/2JieJXN
Don't torture yourself for the price you buy. I can almost guarantee it's cheaper than a year from now... Probably tenfold.
Why not more Lightning Network talk?
I’ve been using Strike, Fold, and Breez for the last few months to buy lots of stuff. Probably have spent $1,000-$2,000 per month. No issues. I know it’s beta so we need to be careful, but it’s working really well.
Been buying gift cards for Amazon and have earned hundreds worth of sats. Have bought Bitcoin toys straight from websites that take it. And have sent some tippin.me to folks I like listening to.
Really loving Lightning Network. Using Strike, I pay the sats using my fiat so I never spend my BTC.
Thinking about setting up an LN node of my own so I can take LN payments for a small side hustle I’m thinking of starting.
Mostly I’m just surprised I don’t see more talk about LN. I can’t wait to see what happens with it over the next few years.
Submitted November 29, 2020 at 03:26AM by Imaginary-Friendship https://bit.ly/3mhUaZZ
Guggenheim Fund Files to Be Able to Invest Up to Almost $500M in Bitcoin Through GBTC
The Battle For World Reserve Currency
Guggenheim opens door to bitcoin exposure for $5 billion macro fund via Grayscale GBTC product
Peter Schiff still doesn’t get it. Real Bitcoiners aren’t trying to cash out. We didn’t come here just to sellout for USD War Bucks, but the IRS only accepts USD, so we are forced to comply. Peter Schiff’s opposition to Bitcoin and support for Gold rests entirely on appeals to authority.
Submitted November 29, 2020 at 02:31AM by the420chronicler https://bit.ly/3mgOf7q
THANK YOU FOR HODL’N
That is all ❤️
Submitted November 29, 2020 at 03:31AM by billyjoelsangst https://bit.ly/37hTYTX
Here's to 13 years on Reddit🍻
Is it me or are these posts about BTC price, future price predictions & BTC mooning getting annoying now?
Not to say that I'm not happy about BTC price increasing but it seems like a lot of people here are just solely focused on BTC mooning so that they could eventually sell for grand profits; such a money oriented mindset when BTC is much more than that. Can we start getting more posts about the fundamentals of BTC, the problems it solves in the world, future applications, even weaknesses in BTC just to create healthy arguments?
All I'm saying is that we all know BTC will eventually rise in price to the point where the barrier of entry would be so high normal retail investors won't be able to get in, just because of how costly BTC will be in the future. So let's shift away from the "$" sign and look towards other great things that BTC provides and share those.
Lol it could be just me but I just find it so annoying seeing these posts in here everyday:
"500K hErE wE Go BoYs! To The Mo0n wE gO!" Lol like we get it BTC will moon shutup. Start talking about more important things please?
Submitted November 29, 2020 at 04:05AM by RuleJust7769 https://bit.ly/2JocK40
Bull run has started
buckle up buckarooooossss
Submitted November 29, 2020 at 12:03AM by PaulChF https://bit.ly/33opTBh
CEO of Morgan Creek believes negative bitcoin news doesn't affect investors.
Bitcoin Could Hit $500,000, the Founder and CEO of Ark Invest Says
Submitted November 28, 2020 at 03:49AM by kynek99 https://bit.ly/37hgf4h
Rick Rieder, CIO of BlackRock believes Bitcoin is there to replace gold.
Rick Rieder, Chief Investment Officer of BlackRock which is the world’s largest asset management corporation said at CNBC’s Squawk Box when asked about Bitcoin:
“I think that digital currencies, and their receptivity, particularly millennials’ receptivity of technology and cryptocurrencies, is real. Digital payment systems are real.”
He also believes Bitcoin’s durable technology could make it take gold’s place in the digitizing world.
Submitted November 28, 2020 at 01:35PM by rollingincrypto https://bit.ly/3fKQcGH
Bitcoin Is Now Accepted By All Pizza Hut Outlets In Venezuela
Welcome To 2030: I Own Nothing, Have No Privacy And Life Has Never Been Better
Canada-Listed Investment Firm Sells All Its Ether, Monero to Buy More Bitcoin
Submitted November 28, 2020 at 07:43AM by WyattMacgregor https://bit.ly/3fFmSkU
BITCOIN VS LEGACY FINANCE
Submitted November 28, 2020 at 01:13PM by BITCOINMOVIECLIPS https://bit.ly/37cMemp
Raoul Pal: Institutional Clients Entering The Bitcoin Market At An Enormous Pace
Multibillion Fund Prepares for Investment in Bitcoin
PayPal next moves will show it's brilliance
tl;dr PayPal's closed ecosystem for Bitcoin will finally make using Bitcoin for purchases a reality by allowing Bitcoin to be used on millions of merchants' sites and simplify tax reporting by PayPal issuing 1099-B forms for those purchases.
I used to buy stuff with Bitcoin but it was such a pain in the ass to report every purchase on my taxes. There are a bunch of people that are anti-IRS in the Bitcoin community and don't feel like people are obligated to report to the IRS their purchases using Bitcoin. I don't want to debate that. Let's assume every purchase that a person makes with Bitcoin needs to be reported on form 8949. When a person buys on exchanges like coinbase, binance, etc, those exchanges are an open eco-system. Once a bitcoin leaves those exchanges, those exchanges don't know what happens to those bitcoins(for the most part). So, those exchanges can't automate your tax filings.
PayPal has setup a closed eco-system where they know a person's purchase history of bitcoin, their sales history of bitcoin and the history of when they bought something using bitcoin(via PayPal). So, PayPal has all the necessary information to generate a 1099-B for that person. A 1099-B completely simplifies tax filing for purchases made with Bitcoin.
To give you a concrete example. Let make the following assumptions:
I bought 1 bitcoin on August 1st 2020 for $10,000
On Sept 1st, 2020, I bought a TV for $2000 using Bitcoin and the price of one Bitcoin was $20,000.
So, let's work through what happens if I used Coinbase to originally buy that 1 bitcoin. So I bought that Bitcoin and then I moved it to my hardware wallet. I had to pay some amount of bitcoin in transaction fees to move that bitcoin. To make things "simple", let's assume the network transaction fee was .01 btc. So that improves my cost basis but overall it cost me money but my new cost basis is .99 bitcoin for a $10,000(this makes the effective cost basis of 1 btc to be $10,101.01). Then I purchase the tv from my hardware wallet. There would be another network transaction cost but let's assume it was free. Coinbase has no idea what I did with that bitcoin that I bought from them. So, it's now my obligation to report my capital gain to the IRS since the price had gone up since I bought that bitcoin. So, my capital gain would be: I used .1 bitcoin to buy a $2000 TV. My cost basis of that .1 btc was $1010.01. So I had a capital gain fo $989.99 that I need to pay short term capital gain taxes on that.
Now I imagine that I buy a $4 cup of coffee every day. I have to do this calculation for every cup of coffee that I had. Complete and utter insanity to manually calculate the capital gain of every purchase a person makes. I decided it wasn't worth it so I stopped buying things with bitcoin.
Let's work through the example of the closed eco-system of PayPal. Since PayPal doesn't allow me to move bitcoin in or out, they know exactly my cost basis of all of the btc that I have in my PayPal bitcoin wallet. Now I used a merchant that accepts PayPal(which is a lot of them) and I used the bitcoin that I bought via PayPal. PayPal knows exactly what my capital gain/loss is on that purchase. At the end of the year, they generate a 1099-B. All tax software can easily import a 1099-B. There is no manual calculation that I need to do. I don't need to keep track of any cost basis. PayPal has literally solved what I believe is the number one issue of using bitcoin for day to day purchases. There are only three companies in the U.S. that could pull this off. They are PayPal, Visa and MasterCard. A company needs to be already integrated into merchants.
Also, when I make a purchase using my PayPal bitcoin wallet to a PayPal merchant, PayPal doesn't need to register that transaction on bitcoin's blockchain. So, there will be no network fee for that. Yes, this is centralization. Yes, this goes against a root philosophy of decentralization.
I understand a lot of Bitcoin purists dislike these choices of PayPal. I think it's brilliant as a business strategy for PayPal. I personally will take the tradeoffs if PayPal makes it simply for me to make purchases with bitcoin. I think it's great for bitcoin if this improves adoption rate, increases the number of merchants accepting bitcoin and brings bitcoin mainstream.
References:
https://fortune.com/2020/11/02/paypal-cryptocurrency-bitcoin-venmo/
"According to Schulman, starting in the first half of next year PayPal will let users draw from cryptocurrency accounts to pay for goods and services at 28 million merchants that use the company's platform."
Submitted November 28, 2020 at 09:36AM by DrRobertBottle https://bit.ly/2HJ0Lxh
Rick Rieder, CIO of BlackRock believes Bitcoin is there to replace gold.
MY STORY OF BEING SCAMMED BY FREEWALLET (350+ XMR HELD HOSTAGE OVER 2 MONTHS NOW)
BITCOIN VS LEGACY FINANCE
Friday, 27 November 2020
I made this meme hope some will like it.
Submitted November 28, 2020 at 04:04AM by S4lkis https://bit.ly/3fHfhCk
If you’re in this for real, you know that conditions have never better. BTFD.
Daily Discussion, November 28, 2020
PayPal next moves will show it's brilliance
I did it. I emptied my Coinbase account.
Yeah, the title was a little bait and switch, but I did empty my coinbase account. I finally pulled the trigger and took control of my own keys.
I have always been hesitant to maintain full custody of my bitcoin since I wasn't 100% sure I could reliably and responsibly control it. My personal coinbase holdings were from my early days and it has been a relatively small amount. Plus I've just been lazy.
However, with everything going on with Coinbase, and rumors that they will be introducing new policies with the US government regarding self-custody, I am pretty worried they will sanction BTC for all US citizens. Yes, I know it's an extreme case, but as soon as things get real and the current elite realize they have holes in their moneybags (inflation, quantitative easing, stimulus, money printing, bailouts, etc...), they will probably take extreme measures to make sure they retain power.
p.s.
If anyone has or knows someone with mass amounts of venture capital, and wants to bring a better mousetrap to the market, I have a working concept for a hardware wallet that is better than any of the current offerings. I have the manufacturing set up. Just need the money to place the order. I also have experience in manufacturing crypto hardware and software, created the first plug-and-play bitcoin miner, and founded Hands Free Bitcoin. And before anyone starts trolling, yes, my business accounts have always had excessive custodial measures taken to ensure security. My personal coinbase holdings were from my early days and I just haven't taken time to pay much attention to them until now.
Submitted November 28, 2020 at 05:19AM by Adamsimecka https://bit.ly/2JpwKmU
Canada-Listed Investment Firm Sells All Its Ether, Monero to Buy More Bitcoin
Ok, did it. I bought twice as much as my normal dca with this black Friday sale. Now I'm just going to sit back and watch the rest of you stack sats.
EDIT: thank you everyone for your support, to clarify, when I said "dca" I didn't mean dca, I meant the daily cost that I was averaging, not dca. Also, on this day, after the market took a big dip, I bought twice what I normally do on a daily cost that I average when making sat purchases. Thank you to everyone that clarified this for me. HODL!
Submitted November 27, 2020 at 11:47PM by ellusiveuser https://bit.ly/3o1mIXV
The very first person to receive Bitcoin from Satoshi himself is ...
Imagine it's the year 2030. And someone is reading the comments & FUD posted in r/bitcoin today in respect of the ecosystem. Here's a copy of a random thread posted in r/bitcoin 9 Years ago, same thing shills and trolls spreading FUD about Bitcoin and the collapsing market.
It's the perfect time to buy Bitcoins
Are we learning yet?
Submitted November 28, 2020 at 02:26AM by SAT0SHl https://bit.ly/33lj03s
I did it. I emptied my Coinbase account.
Let's not forget what Bitcoin is really capable of outside of Hodling. Here's a payment between two completely unrelated banks in Europe powered by Lightning - Near INSTANT and for stupidly low fees.
Funny Bitcoin ad spotted in London
I put many, many, many hours into the creation of this video
There are so many great articles on Bitcoin, but not enough videos that put the concepts into visuals and link the different layers from "why" to "how". So I tried doing that with a video where I cover everything I learned throughout the years. Economics, Ethics and Technology.
https://www.youtube.com/watch?v=Ai5z2T4WhWg
About me: I got into Bitcoin 2017 and ofc bought the top. I then diversified into alts and got rekt even harder. I guess this is the natural Bitcoiners starting path. However having my skin in the game I started learning and kept buying. From Andreas talks to The Bitcoin Standard as a start. After that articles, Mises, Hayek and Rothbard. Running a full node, understanding the technology through Mastering Bitcoin.
Here I am 3 years later. I love this community and the revolution we are witnessing. This video is my contribution. If you like it, please consider subscribing. Thank you!
Submitted November 27, 2020 at 08:30PM by tillmusshoff https://bit.ly/3mer79A
Nigeria Is Emerging as a True Bitcoin Nation - Satoshi Nakamoto’s original use case, for Bitcoin as a payment tool, is positively thriving there.
Submitted November 27, 2020 at 06:46PM by probotika https://bit.ly/2Vay8fv