Bitcoin On Air: September 2021

Thursday 30 September 2021

Chamath Palihapitiya Believes Bitcoin (BTC) Has Effectively Replaced Gold

https://bit.ly/39XrqB7

Submitted October 01, 2021 at 12:37AM by Mars_chego https://bit.ly/3F4p55E

BREAKING: Fed Chair Powell Says He Has ‘No Intention’ of Banning Crypto

https://bit.ly/3zRYYv3

Submitted October 01, 2021 at 03:05AM by ShotBot https://bit.ly/39TA7fI

40k SUPPORT LETS GO!

https://bit.ly/3DgN7J9 via /r/Bitcoin https://bit.ly/3CZMGma

Daily Discussion, October 01, 2021

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.Join us in the r/Bitcoin Chatroom!Please check the previous discussion thread for unanswered questions. via /r/Bitcoin https://bit.ly/2YcT3DO

Hey PlanB …. F💪cking Legend 🚀

Closing > 43.000 in September. Is the model that good? Or is it selffulfilling prophecy with people putting a floor of buyers under the base case, following the stock-to-floor-model 🤔🤔🤔. Anyway impressive, like clockwork….

Submitted October 01, 2021 at 04:52AM by PoensieWeit https://bit.ly/3CYsC3C

Hey PlanB …. F💪cking Legend 🚀

I Painted My First Bitcoin Painting Ever!

https://bit.ly/3mdpzxF

Submitted October 01, 2021 at 12:42AM by Proof-of-Paint https://bit.ly/3kSsqg6

BREAKING: Fed Chair Powell Says He Has ‘No Intention’ of Banning Crypto

https://bit.ly/3zRYYv3 via /r/Bitcoin https://bit.ly/39TA7fI

The Ethical Argument for Bitcoin Maximalism: "Over 8 years as a journalist, I've written 2000+ articles about cryptocurrency, interviewing advocates for every kind of coin. Today, I support Bitcoin only and believe the crypto market is fundamentally broken." [Pete Rizzo]

https://bit.ly/3D2255k

Submitted September 30, 2021 at 10:02PM by BtcAnonymouse https://bit.ly/3F4LqjA

Powell: No plan to ban crypto !!

https://bit.ly/3AXbavT

Submitted October 01, 2021 at 01:24AM by chapogrown https://bit.ly/3zVjLxF

Powell: No plan to ban crypto !!

https://bit.ly/3AXbavT via /r/Bitcoin https://bit.ly/3zVjLxF

Powell Says Fed Has 'No Intention' to Ban Cryptocurrencies

https://bloom.bg/3il3bS6

Submitted October 01, 2021 at 12:12AM by Bozzooo https://bit.ly/3zUCM3q

I Painted My First Bitcoin Painting Ever!

https://bit.ly/3mdpzxF via /r/Bitcoin https://bit.ly/3kSsqg6

Satoshi’s wallet has 1,000,000 Bitcoin but people are afraid their wallet may get targeted and hacked?

The network has never been hacked and if it were to be hacked, there are much bigger wallets to raid than yours.

People scared of their Bitcoin wallet getting hacked fundamentally misunderstand the Bitcoin network.

Submitted September 30, 2021 at 08:33PM by Seebeedeee https://bit.ly/3urEsjw

Powell Says Fed Has 'No Intention' to Ban Cryptocurrencies

https://bloom.bg/3il3bS6 via /r/Bitcoin https://bit.ly/3zUCM3q

China Outlawing Crypto Transactions is Backfiring: Chinese People turn to Decentralized Exchanges and Underground Projects with no Control of the CCP

https://bit.ly/3uoItFF

Submitted September 30, 2021 at 01:32PM by simplelifestyle https://bit.ly/3AZSLOT

When Bitcoin hits 45K next it will not go under 42K until it reaches over 65K (the bull run is back on baby). If I’m wrong the first person to call me out in this post gets 100AU/sats. FACT

No text found

Submitted September 30, 2021 at 05:48PM by Individual-Elk-6423 https://bit.ly/39QIQiD

Starting off in BTC with my Dad, shortly before he passed away…and a word on DCA

I first learned about Bitcoin in 2012, but started buying towards the end of the 2017 bullrun. My father was a coin collector since he was a kid, and even though he was now in his 70s and physically not well, he was still very intrigued by crypto and virtual coins.

My Dad was a technology enthusiast his whole life. He worked in healthcare but tech was his passion. I can remember he bought a 1.0 Megapixel Olympus Digital Camera when it first came out, and the first CD-R on the market (I think it was a 2x Plextor). The first Betamax and VHS players, and was always building his own computers. He was never great with money, we always seemed to be in debt, but he loved his tech and we had fun!

Anyway, I made a couple small BTC purchases through a centralized exchange and told my Dad about it in early December 2017. He was excited! My Dad texted me that evening with an article, saying that I should probably purchase a hardware wallet. That was my last communication with him.

I planned to go see him the next morning for lunch which was our usual Saturday activity. I got a call that morning at about 4:30 AM from the local police dept that my Dad was found unresponsive in his car and had been transported to the local hospital. He usually left at 4 AM to drive himself in for kidney dialysis 3 days a week.

I jumped in my car and sped to the hospital; on the way there, I called and asked to speak to someone in the ER. I identified myself, and asked about the condition of my father. They said they couldn’t tell me any info on the phone because of HIPAA. I said “fine, let me speak to him.” Silence on the other end. And at that point driving towards the hospital, I knew he was already gone and it broke me. When I walked in, they tried to sit me down and I said “I already know, just let me see him.” I was devastated. I took a deep dive into crypto the following weeks to learn as much as I could, and it was a good distraction looking back.

The point of my story: my Dad left me a small monthly annuity when he passed, not a lot, but something. I never really got the chance to sit down with him and discuss crypto in depth. It’s something I daydream about often. I wouldn’t have been able to discuss it with anyone else in real life except him, still can’t, so here I am on Reddit. I decided to DCA the exact amount of the annuity every month into crypto from January 2018 onward. I tell myself that it’s like I’m investing in crypto with my Dad, and that gives me some comfort. DCA works quite well by the way it you’re patient! Give it time! It works!

BTW, Don’t count out all the boomers out there folks, there’s a good chunk of them that do/would love this tech and see how amazing it is given the right conditions and guidance. Let’s be inclusive.

Submitted September 30, 2021 at 09:19PM by iPEEonCLOWNS https://bit.ly/3ut5IOY

The Ethical Argument for Bitcoin Maximalism: "Over 8 years as a journalist, I've written 2000+ articles about cryptocurrency, interviewing advocates for every kind of coin. Today, I support Bitcoin only and believe the crypto market is fundamentally broken." [Pete Rizzo]

https://bit.ly/3D2255k via /r/Bitcoin https://bit.ly/3F4LqjA

Satoshi’s wallet has 1,000,000 Bitcoin but people are afraid their wallet may get targeted and hacked?

There was no air-gapped hardware wallets either. Satoshi probably stored his Bitcoin access on an old laptop you would be embarrassed to be seen using these days. His wallet has been sitting in cyberspace for over a decade and nobody has been able to steal a single sat.The network has never been hacked and if it were to be hacked, there are much bigger wallets to raid than yours.People scared of their Bitcoin wallet getting hacked fundamentally misunderstand the Bitcoin network. via /r/Bitcoin https://bit.ly/3urEsjw

China ban journey

https://bit.ly/3imbPzH via /r/Bitcoin https://bit.ly/3m9V5wG

Wednesday 29 September 2021

Gasoline price in El Salvador will now be $0.20 cheaper if bought with Bitcoin

https://twitter.com/nayibbukele/status/1443410462129983490

Submitted September 30, 2021 at 11:31AM by Juankestein https://bit.ly/39QplHe

those who thought btc was going to 10k be like:

https://bit.ly/3kUMlLk via /r/Bitcoin https://bit.ly/3mazxjx

Gasoline price in El Salvador will now be $0.20 cheaper if bought with Bitcoin

https://twitter.com/nayibbukele/status/1443410462129983490 via /r/Bitcoin https://bit.ly/39QplHe

Daily Discussion, September 30, 2021

What is the likelihood that the US starts taxing unrealized capital gains as income, as Janet Yellen just alluded?

No text found

Submitted September 29, 2021 at 11:26PM by bearCatBird https://bit.ly/3kR2EJa

Silk Road was proof that Bitcoin works perfectly well as a transactional currency.

https://bit.ly/2Y1ksbm via /r/Bitcoin https://bit.ly/3zRrmgz

Don't be fooled by the CCP, they are

So, as it turns out, China's government is the second biggest Bitcoin whale, only second to Grayscale.

The whole "governments will ban Bitcoin" is bullshit. They just want your bitcoin for themselves. China has over 8.1 billion in BTC (at $42k) it seized from "illegal" mining operations and trades. They didn't sell it, they didn't auction it. They kept it, then they cracked down on it.

You think they wouldn't have cashed out 8.1 billion if they really thought about banning it "forever"?

They want your coins, and they know they can't take them. Which is why they will try to make you believe anything and make you panic to force you to give it to them willingly.

Don't.

Submitted September 30, 2021 at 12:27AM by TheCryptoAdvocate https://bit.ly/3zU8Fc4

"Mastering the Lightning Network" by Andreas M. Antonopoulos, Olaoluwa Osuntokun, et al., is in final production. You can read the full book for free in the GitHub repo.

https://bit.ly/2z29Rxa

Submitted September 29, 2021 at 07:54PM by TumbleGrapes https://bit.ly/2XZlGUu

A scammers early Christmas - A short story

https://bit.ly/3CVnSf4

Submitted September 30, 2021 at 12:02AM by Final_Kangaroo_5148 https://bit.ly/2YasZt8

How to deal with scammer

https://bit.ly/3F2Gonw via /r/Bitcoin https://bit.ly/2WnOlSP

Crypto tax bill is in it.

https://bit.ly/3unkuGN

Submitted September 30, 2021 at 04:28AM by AdNational7013 https://bit.ly/3ijKAWd

I support Bitcoin, not crypto.

I'm here because I love Bitcoin, not because I want number to go up. I support the values that Satoshi programmed into Bitcoin. Not just the values programmed in code, but how Satoshi walked away and choose not to monetize the project. Satoshi had the same ideals of George Washington ideals of freedoms and a decentralized balance of powers so there could be no king.Crypto outside of Bitcoin is all just a giant malicious scheme to redistribute wealth from dumb retail investors to VCs, devs and insiders. When there is no product, you become the product. Create a premined coin, pay influencers and media to hype up your coin then slowly dump your bags on the public. Easiest get rich scheme in the world.I don't support crypto in general. I actually find much of crypto to be abhorrent. CBDCs are frightening to human rights as it gives governments extreme control over their citizens. Centralised projects are not that different from CBDCs when you think about it, it's just Vitalik who is the head of the central bank instead of China. via /r/Bitcoin https://bit.ly/2Y0i5Wm

Crypto tax bill is in it.

https://bit.ly/3unkuGN via /r/Bitcoin https://bit.ly/3ijKAWd

Despite the recent Bitcoin ban in China, there are still 142 nodes enforcing, validating, and running the network in the country. No matter what, nobody can ban Bitcoin.

https://bit.ly/3zUjmLM

Submitted September 29, 2021 at 09:27PM by AlonShvarts https://bit.ly/3AV7iv5

Don't be fooled by the CCP, they are

So, as it turns out, China's government is the second biggest Bitcoin whale, only second to Grayscale.The whole "governments will ban Bitcoin" is bullshit. They just want your bitcoin for themselves. China has over 8.1 billion in BTC (at $42k) it seized from "illegal" mining operations and trades. They didn't sell it, they didn't auction it. They kept it, then they cracked down on it.You think they wouldn't have cashed out 8.1 billion if they really thought about banning it "forever"?They want your coins, and they know they can't take them. Which is why they will try to make you believe anything and make you panic to force you to give it to them willingly.Don't. via /r/Bitcoin https://bit.ly/3zU8Fc4

Congress is about to turn Bitcoin taxes into a tremendous clusterfuck

What is 1099 reporting?

1099 reporting has existed within the traditional finance space for a long time. It's meant to help the IRS understand your non-employment-related income (like the income you get from stock trading). Brokers like Robinhood and eToro are required to send this info to the IRS to help identify people committing tax fraud.

The infrastructure bill would require major crypto exchanges to report the same information.

What’s the big deal? My stock broker is already sending my 1099 information to the IRS anyway.

Remember, Bitcoin is fundamentally different from stocks.

Bitcoin is meant to be transferable, peer-to-peer, and operate without the need for a third-party. That means that trying to force all of these traditional finance rules onto it is going to lead to disaster.

Here’s an example that might help make this more clear:

Jimmy buys 1 Bitcoin for $30,000 on Kraken.

Jimmy transfers his Bitcoin to Coinbase.

Jimmy sells his Bitcoin for $50,000.

Since Jimmy gained $20,000, he SHOULD incur $20,000 of capital gains.

However, Coinbase has NO IDEA what Jimmy’s cost basis for acquiring his Bitcoin was. Did he acquire it for $1000? $100? $60,000? Since the transaction took place on a different exchange, Coinbase doesn’t know.

Coinbase is also under NO OBLIGATION to provide that information to the IRS… so they’re not going to bother trying to figure it out.

They’ll give the IRS the information they do have: Jimmy sold his Bitcoin for $50,000. If Jimmy can’t prove that he actually bought it for $30,000, he’s on the hook for the full $50,000.

And look, most people feel overwhelmed when it comes to navigating their taxes. There's a good possibility that Jimmy MAY NOT EVEN REALIZE that he’s paying too much in taxes until it’s too late.

Jimmy can go to an accountant. But most accountants aren’t crypto-friendly and may not be able to provide much help.

“Whatever, we don’t know if the infrastructure bill is going to pass anyway.”

Unfortunately, it looks 1099-B reporting is coming no matter what. Even the “crypto-friendly” amendment to the infrastructure bill that was being pushed by Senators Wyden, Toomey, and Lummis would have required centralized exchanges to provide 1099-B reporting information to the IRS.

So what does this mean for you? It’s going to become WAY more important for you to track your Bitcoin transactions.

Remember, to avoid paying more in taxes than you actually owe, you’ll need to keep a record of all of your Bitcoin transactions.

You can do this via a spreadsheet or use a crypto tax platform. You’ll need to track the amount of Bitcoin you sold, the time the transaction took place, and the price of Bitcoin at the time of the transaction. (I was using a spreadsheet to track my Bitcoin transactions for a while, but it got too complicated so I said fuck it and got started with CryptoTrader.Tax)

I hate the fact that this is an issue in the first place. Bitcoin is supposed to be about the little guy standing up to the established financial system. While already-rich whales are going to come out okay, filing taxes is going to be harder than ever for retail investors.

TL;DR: Crypto exchanges often have no idea what your cost basis is. Requiring exchanges to send 1099 information to the IRS may cause the average crypto investor to pay WAY more in taxes than they actually owe.

Submitted September 29, 2021 at 11:29PM by theboyderoi https://bit.ly/39NQz0T

El Salvador using Volcanos 🌋 to Mine Bitcoin, Where are we going? (Video Shared by the Official twitter account of the President of El Salvador)

https://bit.ly/2XVMEfU via /r/Bitcoin https://bit.ly/3m7G6TT

Elon Musk: Bitcoin Is Indestructible, US Government Should Keep Hands Off

https://bit.ly/3igvxwy

Submitted September 29, 2021 at 09:27PM by rollingincrypto https://bit.ly/3zPElPX

A scammers early Christmas - A short story

https://bit.ly/3CVnSf4 via /r/Bitcoin https://bit.ly/2YasZt8

Congress is about to turn Bitcoin taxes into a tremendous clusterfuck

Tomorrow, the House of Representatives is voting on the infrastructure bill. I know you’ve probably read a thousand posts about this already but it seems like there’s one thing that’s been relatively under-discussed: the fact that 1099 reporting is going to turn reporting Bitcoin taxes into a total clusterfuck for the average investor.What is 1099 reporting?1099 reporting has existed within the traditional finance space for a long time. It's meant to help the IRS understand your non-employment-related income (like the income you get from stock trading). Brokers like Robinhood and eToro are required to send this info to the IRS to help identify people committing tax fraud.The infrastructure bill would require major crypto exchanges to report the same information.What’s the big deal? My stock broker is already sending my 1099 information to the IRS anyway.Remember, Bitcoin is fundamentally different from stocks.Bitcoin is meant to be transferable, peer-to-peer, and operate without the need for a third-party. That means that trying to force all of these traditional finance rules onto it is going to lead to disaster.Here’s an example that might help make this more clear:Jimmy buys 1 Bitcoin for $30,000 on Kraken.Jimmy transfers his Bitcoin to Coinbase.Jimmy sells his Bitcoin for $50,000.Since Jimmy gained $20,000, he SHOULD incur $20,000 of capital gains.However, Coinbase has NO IDEA what Jimmy’s cost basis for acquiring his Bitcoin was. Did he acquire it for $1000? $100? $60,000? Since the transaction took place on a different exchange, Coinbase doesn’t know.Coinbase is also under NO OBLIGATION to provide that information to the IRS… so they’re not going to bother trying to figure it out.They’ll give the IRS the information they do have: Jimmy sold his Bitcoin for $50,000. If Jimmy can’t prove that he actually bought it for $30,000, he’s on the hook for the full $50,000.And look, most people feel overwhelmed when it comes to navigating their taxes. There's a good possibility that Jimmy MAY NOT EVEN REALIZE that he’s paying too much in taxes until it’s too late.Jimmy can go to an accountant. But most accountants aren’t crypto-friendly and may not be able to provide much help.“Whatever, we don’t know if the infrastructure bill is going to pass anyway.”Unfortunately, it looks 1099-B reporting is coming no matter what. Even the “crypto-friendly” amendment to the infrastructure bill that was being pushed by Senators Wyden, Toomey, and Lummis would have required centralized exchanges to provide 1099-B reporting information to the IRS.So what does this mean for you? It’s going to become WAY more important for you to track your Bitcoin transactions.Remember, to avoid paying more in taxes than you actually owe, you’ll need to keep a record of all of your Bitcoin transactions.You can do this via a spreadsheet or use a crypto tax platform. You’ll need to track the amount of Bitcoin you sold, the time the transaction took place, and the price of Bitcoin at the time of the transaction. (I was using a spreadsheet to track my Bitcoin transactions for a while, but it got too complicated so I said fuck it and got started with CryptoTrader.Tax)I hate the fact that this is an issue in the first place. Bitcoin is supposed to be about the little guy standing up to the established financial system. While already-rich whales are going to come out okay, filing taxes is going to be harder than ever for retail investors.TL;DR: Crypto exchanges often have no idea what your cost basis is. Requiring exchanges to send 1099 information to the IRS may cause the average crypto investor to pay WAY more in taxes than they actually owe. via /r/Bitcoin https://bit.ly/39NQz0T

We should ALL be tracking and supporting these representatives

https://bit.ly/3icu8Hd

Submitted September 29, 2021 at 02:16AM by ComfortableSwimmer92 https://bit.ly/2YcxHq6

China Bans Anything That Promotes Freedom — It Is an Honor for Bitcoin To Be Banned by China. Bitcoin will succeed without China. It will be more problematic for the Chinese, however.

https://bit.ly/3F3Ktbi

Submitted September 29, 2021 at 03:54PM by sylsau https://bit.ly/3m8iajb

Tuesday 28 September 2021

The two outcomes of the US Debt Ceiling Debacle

I see a lot of people talking about, and freaking out about the US defaulting on its debts. I’m here to let you know that there are really two outcomes here and both are bullish for crypto.1 - The US fails to come to an agreement and defaults on its debts (not likely, we’ve been here before, it will pass but they need to put on some political theater first). If this were to happen, the world reserve currency, the USD, would get crushed. US credit ratings would also get crushed. There would be uncertainty about the USDs ability to remain the world reserve currency. As a result, crypto (mostly BTC) would go up. The BTC/USD exchange rate would see its denominator decline sharply resulting in a much high price for BTC, not to mention the increased demand for people seeking USD safe havens.2 - the US comes to an agreement and raises its debt ceiling (most likely). In this case, the US will be free to spend more money it doesn’t have and artificial money creation will ensue.Don’t get me wrong. This is bad news in general. But not for crypto. For crypto, this is bullish. via /r/Bitcoin https://bit.ly/2Wlc46a

Should people in the northern hemisphere start considering mining bitcoin to heat their homes durrng the winter months?

Very brief, saw a blip of an article on cnn a few minutes ago that suggests heating costs for natural gas could go up 180% this fall. Was thinking if individual households started mining btc with something like ant miners, would it be a cost effective alternative to just burning gas to heat your home? Theres some math to do, but I figured folks here might like to put their 2 cents into the concept.

Thoughts? Is this totally dumb or just clever enough to pat off?

Edit: also the article if it even matters. https://www.cnn.com/2021/09/28/business/natural-gas-inflation/index.html

Submitted September 29, 2021 at 07:19AM by Kpenney https://bit.ly/2Zw8BTs

Very soon El Salvador will use geothermal energy from its volcanoes very cheap, 100% clean, 100% renewable" energy from volcanoes to power there BITCOIN MINING OPERATION ..

https://bit.ly/3m6j3Jc via /r/Bitcoin https://bit.ly/3un9RDG

El Salvador's volcano bitcoin mining is open for business

https://youtu.be/qyXn9jQoh_w

Submitted September 29, 2021 at 04:58AM by KAX1107 https://bit.ly/3AM2GYe

I long for the day BTC gets decoupled from the stocks

Red day for stocks is still a red day for BTC. Congress screws around with debt ceiling, FED talks about their insane QE program, traders fear inflation, you name it. All bad news for stocks but all the more reason to buy BTC. Yet we go up and down with the stock market as if somehow correlated. I long for the day BTC gets decoupled from stocks, and all will be right in the world. via /r/Bitcoin https://bit.ly/3ujrHYx

Should people in the northern hemisphere start considering mining bitcoin to heat their homes durrng the winter months?

Daily Discussion, September 28, 2021

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.

Join us in the r/Bitcoin Chatroom!

Please check the previous discussion thread for unanswered questions.

Submitted September 28, 2021 at 01:02PM by rBitcoinMod https://bit.ly/3CV3F9o

You are a presumptive criminal if you have cash

https://yhoo.it/3ASMLYm

Submitted September 28, 2021 at 07:59PM by ImpossibleAnxiety109 https://bit.ly/3EYp17w

Fear and greed index is at 25 “extreme fear”

What are your thoughts?

Submitted September 29, 2021 at 01:53AM by Hassanpyoo https://bit.ly/3zK4Gix

Long-Term Bitcoin Holders Own 80% of the Circulating BTC

https://bit.ly/3m0fzb2

Submitted September 28, 2021 at 09:15PM by mnaa1 https://bit.ly/3uibjY0

We should ALL be tracking and supporting these representatives

https://bit.ly/3icu8Hd via /r/Bitcoin https://bit.ly/2YcxHq6

El Salvador's volcano bitcoin mining is open for business

https://youtu.be/qyXn9jQoh_w via /r/Bitcoin https://bit.ly/3AM2GYe

Congress must raise debt limit by Oct. 18. Failure to suspend or raise the debt limit would lead to the first-ever U.S. default and have severe consequences for the U.S. economy.

https://cnb.cx/3odv55Z

Submitted September 28, 2021 at 11:26PM by thadiusb https://bit.ly/3ofMHOB

I’ll see y’all in 2030

https://bit.ly/3zPoAJ1

Submitted September 28, 2021 at 11:30PM by SaikyouMegane https://bit.ly/3kP1fCR

Fear and greed index is at 25 “extreme fear”

What are your thoughts? via /r/Bitcoin https://bit.ly/3zK4Gix

Congress must raise debt limit by Oct. 18. Failure to suspend or raise the debt limit would lead to the first-ever U.S. default and have severe consequences for the U.S. economy.

https://cnb.cx/3odv55Z via /r/Bitcoin https://bit.ly/3ofMHOB

Long-Term Bitcoin Holders Own 80% of the Circulating BTC

https://bit.ly/3m0fzb2 via /r/Bitcoin https://bit.ly/3uibjY0

Citi : Bitcoin could be “the chosen currency for international trade”

https://bit.ly/2XXrTk4

Submitted September 28, 2021 at 09:31PM by thefoodboylover https://bit.ly/3CRSwpF

Morgan Stanley doubles exposure to Bitcoin through Grayscale shares 👍🏻

https://bit.ly/3AR4FdZ

Submitted September 28, 2021 at 06:56AM by 0218JM https://bit.ly/3unNnT9

I’ll see y’all in 2030

https://bit.ly/3zPoAJ1 via /r/Bitcoin https://bit.ly/3kP1fCR

There are so many countries that are sick of the U.S. and the bullshit they pull. These countries should simply form a coalition and phase bitcoin into their economies giving the middle finger to the U.S. No more war is something I'll sign up for.

No text found

Submitted September 28, 2021 at 07:09PM by nakasatamooshito https://bit.ly/3mahMRr

You are a presumptive criminal if you have cash

https://yhoo.it/3ASMLYm via /r/Bitcoin https://bit.ly/3EYp17w

Bitcoin Newcomers FAQ - Please read!

Welcome to the /r/Bitcoin Sticky FAQYou've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.It all started with the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following articles/books/videos as a good starting point for understanding how bitcoin works and a little about its long term potential:Article: The Bullish Case for BitcoinBook: The Bitcoin StandardVideo 1: The Stories We Tell About Money - Andreas AntonopoulosVideo 2: The Bitcoin Standard - Saifdean AmmousVideo 3: Bitcoin 101 - Balaji SrinivasanVideo 4: Bitcoin Macro Strategy - Michael Saylor & Ross StevensVideo 5: Bitcoin S2FX, S2F and Evolution From Collectible to Financial Asset - Stephan Livera, PlanB & Saifdean AmmousSome other great resources include Michael Saylor's Hope.com and "Bitcoin for Everybody"' course, Jameson Lopp's resource page, Gigi's resource page, and James D'Angelo's Bitcoin 101 Blackboard series. Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute.If you are technically or academically inclined check out developer resources and peer-reviewed research papers, course lectures from both MIT and Princeton as well as future protocol improvements and scaling resources. Some Bitcoin statistics can be found here, here and here. MicroStrategy's Bitcoin for Corporations is an excellent open source series on corporate legal and financial bitcoin integration.You can also see the number of times Bitcoin was declared dead by the media (LOL) and what you could have earned if you didn't listen to them! XDKey properties of BitcoinLimited Supply - There will only ever be 21,000,000 bitcoin created and they are issued in a predictable fashion per the inflation schedule. Once they are all issued Bitcoin will be truly deflationary. The halving countdown tells you how much time until the next drop in block rewards.Open source - Bitcoin code is fully auditable. You can read and contribute to the source code yourself.Accountable - The public ledger is transparent, all transactions are seen by everyone.Decentralized - Bitcoin is globally distributed across thousands of nodes with no single point of failure and as such can't be shut down similar to how Bittorrent works. You can even run a node on a Raspberry Pi.Censorship resistant - No one can prevent you from interacting with the bitcoin network and no one can censor, alter or block transactions that they disagree with, see Operation Chokepoint.Push system - There are no chargebacks in bitcoin because only the person who owns the address where the bitcoin resides has the authority to move them.Low fee scaling - Most wallets calculate on chain fees automatically but you can view fee estimates and mempool activity if you want to set your fee manually. On chain fees may rise occasionally due to network demand, however instant micropayments that do not require confirmations are happening via the Lightning Network, a second layer scaling solution currently rolling out on the Bitcoin mainnet.Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.Trustless - Bitcoin solved the Byzantine's Generals Problem which means nobody needs to trust anybody for it to work.Pseudonymous - No need to expose personal information when purchasing with cash or transacting.Secure - Blocks and transactions are cryptographically secured (using hashes and signatures) and can’t be brute forced or confiscated with proper key management such as hardware wallets.Programmable - Individual units of bitcoin can be programmed to transfer based on certain criteria being metNearly instant - From a few seconds on the lightning network to a few minutes on-chain depending on need for confirmations. Transactions are irreversible by normal users after one confirmation and irreversible by anyone (including miners) after 6 confirmations.Peer-to-peer - No intermediaries taking a cut, no need for trusted third parties.Portable - Bitcoin are digital so they are easier to move than cash or gold. They can be transported by simply carrying a seed (a string of 12 to 24 words) on a device or by memorizing it for wallet recovery (while cool, memorizing is generally not recommended due to potential for forgetting the seed and the potential for insecure key generation by inexperienced users. Hardware wallets are the preferred method for most users for their ease of use and additional security).Scalable - While the protocol is still being optimized for increased transaction capacity, blockchains do not scale very well, so most transaction volume is expected to occur on Layer 2 networks built on top of Bitcoin.Divisible - Each bitcoin can be divided down to 8 decimals, which means you don't have to worry about buying an entire bitcoin.Designed Money - Bitcoin was created to fit all the fundamental properties of money better than gold or fiatWhere can I buy bitcoin?Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.Cash appGeminiSwanRiver FinancialBitstampBitFinexXapoKrakenCexLocalBitcoinsLibertyXP2P exchange list (decentralized)CoinCornerYou can also purchase in cash with local ATMs. Services such as CardCoins let you purchase bitcoin with prepaid gift cards. If you would like your paycheck automatically converted to bitcoin use Bitwage.Note: Bitcoin are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year.Securing your bitcoinWith bitcoin you can "Be your own bank" and personally secure your bitcoin OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoin for you.If you prefer to "Be your own bank" and have direct control over your coins without having to use a trusted third party, then you will need to create your own wallet and keep it secure. If you want easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor, Ledger or ColdCard is recommended.If you cannot afford a hardware wallet there are many software wallet options to choose from depending on your use case. Mobile wallets like BlueWallet are generally more secure than desktop wallets. Beware of fake mobile wallets and check reviews from reputable Bitcoin websites. Avoid paper wallets or brain wallets.If you prefer to let third party "Bitcoin banks" manage your coins, try Gemini or Unchained Capital but be aware you may not be in control of your private keys in which case you would have to ask permission to access your funds and be exposed to third party risk. There is a saying in the community, "Not your keys, not your coins" meaning if you don't store your coins in a wallet that you control the keys to then you do not really own your bitcoin as you have to ask permission from the third party in order to move them.Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!2FA requires a second confirmation code or a physical security key to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.Avoid using your cell number for 2FA. Hackers have been using a technique called "SIM swapping" to impersonate users and steal bitcoin off exchanges.Google AuthAuthyOTP AuthandOTPAndroidAndroidN/AAndroidiOSiOSiOSN/APhysical security keys (FIDO U2F) offer stronger security than Google Auth / Authy and other TOTP-based apps, because the secret code never leaves the device and it uses bi-directional authentication so it prevents phishing. If you lose the device though, you could lose access to your account, so always use 2 or more security keys with a given account so you have backups. See Yubikey or Titan to purchase security keys.Both Coinbase and Gemini support physical security keys.Watch out for scamsAs mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the r / btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. As they say in our community, "Don't trust, verify".Avoid using ad-based search engines like Google or Yahoo: ads are shown based on how much the advertiser bids, and scammers can easily outbid legitimate providers for ad space, since immoral ways of earning money are far more lucrative than moral ways. Use DuckDuckGo instead, which has no ads, and never tracks you as well.Ignore private messages offering services.Never enter your seed words in a website of any kind. Hardware wallets will recover by displaying possible seed words on their own interface, never on a website.Always check addresses on your hardware wallet before sending or receiving. Some malware has been known to replace addresses in your web browser or that you copy-and-paste.Avoid clicking on links like that look like links, such as https://bit.ly/3mYaXko, without first hovering over it and actually checking where they go to. Just because a link is labelled with an HTTPS address does not mean it actually sends you to that address. It is trivial for someone to comment a link on Reddit that looks like it will send you to one website when it actually sends you to another, and you might not notice the difference until a scammer has gotten all your money, or you have downloaded and installed software that steals your money.Common Bitcoin MythsOften the same concerns arise about Bitcoin from newcomers. Questions such as:Is Bitcoin a Ponzi scheme?Will governments ban Bitcoin?Will quantum computers break Bitcoin?All of these questions have been answered many times by a variety of people. Here are some resources where you can see if your concern has been answered:Common Bitcoin MythsGradually, Then SuddenlyEvery Reason Bitcoin Will Not FailEnd the FUDWhere can I spend bitcoin?Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card or Fold card. Some other useful site are listed below.StoreProductBitrefill, GyftGift cards for thousands of retailers worldwide including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.Spendabit, Overstock and The Bitcoin DirectoryRetail shopping with millions of resultsNewEgg and DellFor all your electronics needsPiixpay, Bitbill.eu, Bylls, Coins.ph, LivingRoomofSatoshi, Coinsfer, and moreBill paymentMenufy and TakeawayTakeout delivered to your doorExpedia, Cheapair, Destinia, Abitsky, SkyTours, the Travel category on Gyft and 9flatsFor when you need to get awayCryptostorm, Mullvad, and PIAVPN servicesNamecheap, PorkbunDomain name registrationStampnikDiscounted USPS Priority, Express, First-Class mail postageCoinmap and AirBitz are helpful to find local businesses accepting bitcoin. A good resource for UK residents is at wheretospendbitcoins.co.uk.There are also lots of charities which accept bitcoin donations.Merchant ResourcesThere are several benefits to accepting bitcoin as a payment option if you are a merchant;1-3% savings over credit cards or PayPal.No chargebacks (final settlement in 10 minutes as opposed to 3+ months).Accept business from a global customer base.Increased privacy.Convert 100% of the sale to the currency of your choice for deposit to your account, or choose to keep a percentage of the sale in bitcoin if you wish to begin accumulating it.If you are interested in accepting bitcoin as a payment method, there are several options available;BTCPaySquare cashStripeWyreBlockonomics (direct to your wallet)CoinCorner CheckoutCan I mine bitcoin?Mining bitcoin can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read the mining FAQ. Still have mining questions? The crew at /r/BitcoinMining would be happy to help you out.If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node. You can view the global node distribution for a visual representation of the node network.Earning bitcoinJust like any other form of money, you can also earn bitcoin by being paid to do a job.SiteDescriptionWorkingForBitcoins, Bitwage, Cryptogrind, Coinality, Bitgigs, /r/Jobs4Bitcoins, BitforTip, Rein ProjectFreelancingLolliEarn bitcoin when you shop online!OpenBazaar, Purse.io, Bitify, /r/BitmarketMarketplaces/r/GirlsGoneBitcoin NSFWAdult servicesA-ads, Coinzilla.ioAdvertisingYou can also earn bitcoin by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoin for a small fee (requires you to already have some bitcoin).Bitcoin-Related ProjectsThe following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.ProjectDescriptionLightning NetworkSecond layer scalingLiquid, Rootstock and DrivechainSidechainsHivemindPrediction marketsTierion and FactomRecords & Titles on the blockchainBitMarkets, DropZone, Beaver and Open BazaarDecentralized marketsJoinMarket and Wasabi WalletCoinJoin implementationDecentralized exhangesDecentralized bitcoin exchangesKeybaseIdentity & Reputation managementAbraGlobal P2P money transmitter networkBitcoreOpen source Bitcoin javascript libraryBitcoin UnitsOne Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:UnitSymbolValueInfobitcoinBTC1 bitcoinone bitcoin is equal to 100 million satoshismillibitcoinmBTC1,000 per bitcoinused as default unit in recent Electrum wallet releasesbitbit1,000,000 per bitcoincolloquial "slang" term for microbitcoin (μBTC)satoshisat100,000,000 per bitcoinsmallest unit in bitcoin, named after the inventorFor example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:0.001 BTC1 mBTC1,000 bits100k satsFor more information check out the Bitcoin units wiki.Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /r/Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit.Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.Welcome to the Bitcoin community and the new decentralized economy! via /r/Bitcoin https://bit.ly/3kAZIR3

A Bitcoin Is Worth $4,000--Why You Probably Should Not Own One

https://bit.ly/3ukHqGQ via /r/Bitcoin https://bit.ly/2Wi9Vbo

I am a time traveler from the future, here to tell you to please keep going.

I am sending this message from the year 2089. Things have never been so good in all of human history, and some of you will still be here to see it.

If you don’t believe me, I don’t have the time to try to convince you, sorry.

I know you are all busy building, and I don’t want to waste your time, so I’ll simply explain what happened.

On average, every year, the value of a bitcoin continued to grow at an over 250% annualized return, that is, of course, until hyperbitcoinization began in earnest. Arguably, hyperbitcoinization began with the genesis block, but when the US government started printing trillions of dollars during the old pandemic of 2019, the world, en masse, began to lose faith in their unit of account, the US dollar.

The largest demographic in the US, the Baby Boomers, began retiring. They held most of their wealth in their homes and retirement accounts (mostly equities), and as they watched the financial markets and real estate pump and dump continuously, due to money printing and government handouts, tempered by schizophrenic fiscal policy, they realized there would eventually be no demand for their overpriced homes and Amazon stock (I’m not sure what this company did, but I’ve read about it being very large), and started to cash out.

This, coupled with small countries beginning to adopt Bitcoin as currency, led the way to broader de-dollarization. China, for a few years, attempted a digital Yuan, but a civil war ended their dream by destabilizing CBDC rollout, all the while debtor countries in the Chinese Belt and Road initiative realized they could simply convert their treasuries to Bitcoin, and clear their debts in the weakened Yuan currency after a year or two, thus securing their financial freedom.

Back in the US, all hell broke loose when Vanguard, Fidelity and Schwab started metering retirement account redemptions. I don’t want to oversimplify those years, but scams abounded and confusion was the norm. Many lost their life savings while others 500x-ed what they had by buying Bitcoin as soon as possible. In all, it became clear when the dust had settled, that the digital scarcity of Bitcoin was the enforceable unit of account.

One famous couple, whose son had been telling them to buy Bitcoin since 2020, lost everything in their retirement accounts. That is, until one Thanksgiving when he logged into the long forgotten Swan website and realized their auto DCA of $50 a week had been running continuously for the last 10 years. They quickly bought a plane ticket and moved to a Bitcoin Citadel community for their remaining years.

“What is a Citadel?” you might wonder.

The concept started as a term of art to describe a hard money response to the fiat world pre-BItcoin. Today you probably think of the ‘fiat world’ when you see over-processed foods, low quality imported products designed with planned obsolescence, or hyper bureaucratic organizations that seem to produce little. Those things are alien to us in my time, I’ve only read about them, but I believe you’ll understand what I mean when I mention them. The Citadel concept has become a cornerstone of Bitcoin and most people in my era see the concept of a Citadel as one of the following:

The Personal Bitcoin Citadel: This is the high standard of personal care and sovereignty that Bitcoiners (everyone nowadays) hold themselves to. It includes working out, eating clean foods, maintaining healthy relationships, and working on emotional and spiritual betterment. With Bitcoin as a standard, people started to realize that they were extremely capable of taking care of themselves and dove in headfirst. The Personal Citadel movement extended outside of the self to the immediate family, one’s home, and one’s work/schooling environment. People became empowered by the responsibility of earning and holding their own wealth and developed a culture of protecting it while respecting what others had.
The Bitcoin Citadel Community: These developed as both free and paid communities dedicated to both member improvement and extending the social mission of Bitcoin. Some organizations operated like what you would, in your time, call a ‘meetup group’, focused on particular skill development, self refinement or community issues, other organizations developed like what you would call ‘investment clubs’. After hyperbitcoinization many Bitcoiners, now extremely wealthy, dedicated their lives to allocating capital to the building of a refined hard money world. These groups operated on principles of non-aggression, decentralization, permissionless-ness and opting-in. Sometimes they were meant to generate income and other times they were pure donations. The best example I can use is when I once read about the great capitalists of the 20th century, who often spent the latter halves of their lives giving away what they had earned. You may know Max Keiser and Michael Saylor, these two men, upon becoming some of the wealthiest individuals to have ever existed, spent their later years in campaigns to bring self sovereignty, energy independence and universal education to the world. They are the reason every country on Earth now has both fully funded trade, liberal arts, and research institutions.
The Physical Citadel Community: During and immediately after hyperbitcoinization, the building of physical citadels became extremely popular for early adopters seeking to ‘ride out’ the volatility and confusion that abounded. Some individuals lived in mountain homes with abundant security, some on tropical islands they purchased, and others simply bought entire city blocks and retrofitted them to become entirely self-sufficient. Many of the later adopters of Bitcoin initially hated these citadel builders, seeing them as elitists or isolationists, but as hyperbitcoinization completed, most came to understand that physical citadels were meant as protective and self-sustaining structures, and were never used to offensively harm or attack anyone. What’s more, many of these citadels, post hyperbitcoinization began operating on an ‘open door’ policy to provide shelter, food and health care to both average citizens looking for something to eat for lunch or somewhere to stay on a road trip, as well as the few impoverished who still struggle in our day and age.

Initially governments tried to fight hyperbitcoinization by ostracizing early Bitcoiners and maligning them as dissidents or radicals. The Federal Reserve printed tens of trillions of dollars and distributed them widely, thinking that they could turn the average person away from Bitcoin. This provoked serious inflation and this plan backfired egregiously when the federal government shot and killed 25 peaceful protesters who had assembled in front of the White House to advocate for banking the underbanked in America’s major cities with Bitcoin. After this event, it became clear to nearly everyone that they could not stand for a government that enacted violence on those trying to improve the lives of others.

As more and more individuals opted out, government receipts faltered. The US, flush with cash but lacking any purchasing power, capitulated and announced they were buying Bitcoin. This announcement, combined with the flood of Baby Boomers retiring and smaller countries opting for a Bitcoin Standard is still seen today as the moment Bitcoin had won a peaceful revolution.

After governments realized they could not defeat Bitcoin as a network, they became obsessed with energy production and chip manufacturing as a way to participate in the network. Geopolitical advantage went to the country who was able to produce massive amounts of energy at a low cost and with low environmental impact. Natural gas and oil consumption are non-existent in my day and age. Some people still drive around in vintage internal combustion vehicles, but that is seen as an expensive hobby because oil is so difficult to find. Today we use various forms of fission and fusion reactors to power everything from our homes and devices, to our cities, planes and ships . Our chips are 100,000 times faster than your fastest quantum computers and fit in handheld devices that never require charging.

What you might call my ‘cellphone’, the device I keep with me most often for communication, work and play, is running a full bitcoin node and mining bitcoin! It only generates three to six Sats a month. I chose this model, one of the most expensive in the market, because of the more powerful 350 tera-hash mining computer inside of it. It won’t pay for itself and is nowhere near as advanced as the 100,000 tera-hash units some of the larger energy companies have, but it is nice to have a few Sats a month to get lunch or go on a coffee date with.

Even the most staunch talking heads against Bitcoin capitulated when they saw what was happening in Africa, South America, and Southeast Asia. With the introduction of a hard money standard and near limitless energy and computing power available to all, slavery and government tyranny disappeared entirely as the demand for goods produced on these continents for ‘fiat’ products dried up. These locations in particular flourished immensely as their people were able to utilize their skills and resources at home, own their own wealth and labor, and keep the rewards nearby. Service markets that used to rely on geo-arbitrage like design, programming, marketing strategy or website building, became more equitable when everyone was transacting in a shared currency and governments around the world had to compete for citizens. Some later scholars interpreted this as a global redistribution of wealth, while others saw it as the major social turning, when governments across the world started to think of their citizens as customers to be served and not taxpayers to be audited.

You might wonder, what is our plan now? To say we live in a utopia is incomplete. Some individuals have attempted to use their newfound wealth to create militias, take over lands, or attack and rule over others. But, these types of attacks work less and less as the years go on and Bitcoin becomes more and more decentralized. As countries themselves fight mainly to innovate, they fight less and less to dominate. They focus more on serving their citizens and protecting fundamental rights. This has led to a mass de-radicalization of politics and media as businesses and governments insist on maintaining peace, otherwise their citizens will simply leave for a better country.

Of course, in some sense hyper-bitcoinization is not yet complete, but we are living in a far more just and peaceful world because of what you created in the early 2000s.

This is also the reason I contacted you.

Keep going. What you see now as a vision becomes a reality. I don’t know how to explain to you that it was all worth it, you won, and the human race itself has become something better for your work. I can’t imagine the difficulties that you have gone through, and the ones you are about to go through.

However, I have seen where it leads.

- RW

NOTE: This is an homage to the original Citadel Reddit post HERE.

You can find a version of this same post at Bitcoin Magazine HERE.

Thanks so much for reading!

Submitted September 28, 2021 at 07:09AM by BikesandBitcoin https://bit.ly/2Wgby9s

“I hate to break it to you, but what people call “love” is just a chemical reaction that compels animals to breed. It hits hard then slowly fades away, leaving you stranded in a falling marriage. Break the cycle, rise above, and focus on Bitcoin “

No text found via /r/Bitcoin https://bit.ly/2WmGXHw

Listening to Pomp/Maller, and they made me realize something that I hadnt quite wrapped my head around yet… the Lightning Network, is the most innovative technology in human history. Wow.

🤯🤯🤯🤯

Never really put it into perspective before.

🤯🤯🤯🤯

For those who cant google it: https://youtu.be/P_MfXIRQIwc

Submitted September 28, 2021 at 07:18AM by thadiusb https://bit.ly/39IOEeg

Monday 27 September 2021

Fed Chair Powell to warn Congress that inflation pressures could last longer than expected - plus the $3.5T Reconciliation Bill will also cost $0. (This is a major BUY signal to me)

https://cnb.cx/3kOl9xY via /r/Bitcoin https://bit.ly/2Y4EQZG

I am a time traveler from the future, here to tell you to please keep going.

I am sending this message from the year 2089. Things have never been so good in all of human history, and some of you will still be here to see it.If you don’t believe me, I don’t have the time to try to convince you, sorry.I know you are all busy building, and I don’t want to waste your time, so I’ll simply explain what happened.On average, every year, the value of a bitcoin continued to grow at an over 250% annualized return, that is, of course, until hyperbitcoinization began in earnest. Arguably, hyperbitcoinization began with the genesis block, but when the US government started printing trillions of dollars during the old pandemic of 2019, the world, en masse, began to lose faith in their unit of account, the US dollar.The largest demographic in the US, the Baby Boomers, began retiring. They held most of their wealth in their homes and retirement accounts (mostly equities), and as they watched the financial markets and real estate pump and dump continuously, due to money printing and government handouts, tempered by schizophrenic fiscal policy, they realized there would eventually be no demand for their overpriced homes and Amazon stock (I’m not sure what this company did, but I’ve read about it being very large), and started to cash out.This, coupled with small countries beginning to adopt Bitcoin as currency, led the way to broader de-dollarization. China, for a few years, attempted a digital Yuan, but a civil war ended their dream by destabilizing CBDC rollout, all the while debtor countries in the Chinese Belt and Road initiative realized they could simply convert their treasuries to Bitcoin, and clear their debts in the weakened Yuan currency after a year or two, thus securing their financial freedom.Back in the US, all hell broke loose when Vanguard, Fidelity and Schwab started metering retirement account redemptions. I don’t want to oversimplify those years, but scams abounded and confusion was the norm. Many lost their life savings while others 500x-ed what they had by buying Bitcoin as soon as possible. In all, it became clear when the dust had settled, that the digital scarcity of Bitcoin was the enforceable unit of account.One famous couple, whose son had been telling them to buy Bitcoin since 2020, lost everything in their retirement accounts. That is, until one Thanksgiving when he logged into the long forgotten Swan website and realized their auto DCA of $50 a week had been running continuously for the last 10 years. They quickly bought a plane ticket and moved to a Bitcoin Citadel community for their remaining years.“What is a Citadel?” you might wonder.The concept started as a term of art to describe a hard money response to the fiat world pre-BItcoin. Today you probably think of the ‘fiat world’ when you see over-processed foods, low quality imported products designed with planned obsolescence, or hyper bureaucratic organizations that seem to produce little. Those things are alien to us in my time, I’ve only read about them, but I believe you’ll understand what I mean when I mention them. The Citadel concept has become a cornerstone of Bitcoin and most people in my era see the concept of a Citadel as one of the following:The Personal Bitcoin Citadel: This is the high standard of personal care and sovereignty that Bitcoiners (everyone nowadays) hold themselves to. It includes working out, eating clean foods, maintaining healthy relationships, and working on emotional and spiritual betterment. With Bitcoin as a standard, people started to realize that they were extremely capable of taking care of themselves and dove in headfirst. The Personal Citadel movement extended outside of the self to the immediate family, one’s home, and one’s work/schooling environment. People became empowered by the responsibility of earning and holding their own wealth and developed a culture of protecting it while respecting what others had.The Bitcoin Citadel Community: These developed as both free and paid communities dedicated to both member improvement and extending the social mission of Bitcoin. Some organizations operated like what you would, in your time, call a ‘meetup group’, focused on particular skill development, self refinement or community issues, other organizations developed like what you would call ‘investment clubs’. After hyperbitcoinization many Bitcoiners, now extremely wealthy, dedicated their lives to allocating capital to the building of a refined hard money world. These groups operated on principles of non-aggression, decentralization, permissionless-ness and opting-in. Sometimes they were meant to generate income and other times they were pure donations. The best example I can use is when I once read about the great capitalists of the 20th century, who often spent the latter halves of their lives giving away what they had earned. You may know Max Keiser and Michael Saylor, these two men, upon becoming some of the wealthiest individuals to have ever existed, spent their later years in campaigns to bring self sovereignty, energy independence and universal education to the world. They are the reason every country on Earth now has both fully funded trade, liberal arts, and research institutions.The Physical Citadel Community: During and immediately after hyperbitcoinization, the building of physical citadels became extremely popular for early adopters seeking to ‘ride out’ the volatility and confusion that abounded. Some individuals lived in mountain homes with abundant security, some on tropical islands they purchased, and others simply bought entire city blocks and retrofitted them to become entirely self-sufficient. Many of the later adopters of Bitcoin initially hated these citadel builders, seeing them as elitists or isolationists, but as hyperbitcoinization completed, most came to understand that physical citadels were meant as protective and self-sustaining structures, and were never used to offensively harm or attack anyone. What’s more, many of these citadels, post hyperbitcoinization began operating on an ‘open door’ policy to provide shelter, food and health care to both average citizens looking for something to eat for lunch or somewhere to stay on a road trip, as well as the few impoverished who still struggle in our day and age.Initially governments tried to fight hyperbitcoinization by ostracizing early Bitcoiners and maligning them as dissidents or radicals. The Federal Reserve printed tens of trillions of dollars and distributed them widely, thinking that they could turn the average person away from Bitcoin. This provoked serious inflation and this plan backfired egregiously when the federal government shot and killed 25 peaceful protesters who had assembled in front of the White House to advocate for banking the underbanked in America’s major cities with Bitcoin. After this event, it became clear to nearly everyone that they could not stand for a government that enacted violence on those trying to improve the lives of others.As more and more individuals opted out, government receipts faltered. The US, flush with cash but lacking any purchasing power, capitulated and announced they were buying Bitcoin. This announcement, combined with the flood of Baby Boomers retiring and smaller countries opting for a Bitcoin Standard is still seen today as the moment Bitcoin had won a peaceful revolution.After governments realized they could not defeat Bitcoin as a network, they became obsessed with energy production and chip manufacturing as a way to participate in the network. Geopolitical advantage went to the country who was able to produce massive amounts of energy at a low cost and with low environmental impact. Natural gas and oil consumption are non-existent in my day and age. Some people still drive around in vintage internal combustion vehicles, but that is seen as an expensive hobby because oil is so difficult to find. Today we use various forms of fission and fusion reactors to power everything from our homes and devices, to our cities, planes and ships . Our chips are 100,000 times faster than your fastest quantum computers and fit in handheld devices that never require charging.What you might call my ‘cellphone’, the device I keep with me most often for communication, work and play, is running a full bitcoin node and mining bitcoin! It only generates three to six Sats a month. I chose this model, one of the most expensive in the market, because of the more powerful 350 tera-hash mining computer inside of it. It won’t pay for itself and is nowhere near as advanced as the 100,000 tera-hash units some of the larger energy companies have, but it is nice to have a few Sats a month to get lunch or go on a coffee date with.Even the most staunch talking heads against Bitcoin capitulated when they saw what was happening in Africa, South America, and Southeast Asia. With the introduction of a hard money standard and near limitless energy and computing power available to all, slavery and government tyranny disappeared entirely as the demand for goods produced on these continents for ‘fiat’ products dried up. These locations in particular flourished immensely as their people were able to utilize their skills and resources at home, own their own wealth and labor, and keep the rewards nearby. Service markets that used to rely on geo-arbitrage like design, programming, marketing strategy or website building, became more equitable when everyone was transacting in a shared currency and governments around the world had to compete for citizens. Some later scholars interpreted this as a global redistribution of wealth, while others saw it as the major social turning, when governments across the world started to think of their citizens as customers to be served and not taxpayers to be audited.You might wonder, what is our plan now? To say we live in a utopia is incomplete. Some individuals have attempted to use their newfound wealth to create militias, take over lands, or attack and rule over others. But, these types of attacks work less and less as the years go on and Bitcoin becomes more and more decentralized. As countries themselves fight mainly to innovate, they fight less and less to dominate. They focus more on serving their citizens and protecting fundamental rights. This has led to a mass de-radicalization of politics and media as businesses and governments insist on maintaining peace, otherwise their citizens will simply leave for a better country.Of course, in some sense hyper-bitcoinization is not yet complete, but we are living in a far more just and peaceful world because of what you created in the early 2000s.This is also the reason I contacted you.Keep going. What you see now as a vision becomes a reality. I don’t know how to explain to you that it was all worth it, you won, and the human race itself has become something better for your work. I can’t imagine the difficulties that you have gone through, and the ones you are about to go through.However, I have seen where it leads. - RWNOTE: This is an homage to the original Citadel Reddit post HERE.You can find a version of this same post at Bitcoin Magazine HERE.Thanks so much for reading! via /r/Bitcoin https://bit.ly/2Wgby9s

Daily Discussion, September 28, 2021

Listening to Pomp/Maller, and they made me realize something that I hadnt quite wrapped my head around yet… the Lightning Network, is the most innovative technology in human history. Wow.

🤯🤯🤯🤯Never really put it into perspective before.🤯🤯🤯🤯For those who cant google it: https://youtu.be/P_MfXIRQIwc via /r/Bitcoin https://bit.ly/39IOEeg

Federal Reserve Presidents Kaplan and Rosengren step down this morning following scrutiny over insider trading in 2020.

https://bloom.bg/3zP4ePX

Submitted September 28, 2021 at 07:37AM by Three-OneLmao https://bit.ly/3kJpK4n

If you invested $3/day into bitcoin for the last 6 years, you would be holding over $172,000 USD today from a total investment of $6,576. If you instead put that money toward Gold or stocks, you’d have less than $10k today.

No text found

Submitted September 28, 2021 at 06:03AM by thadiusb https://bit.ly/3uhFhvc

How hardened Bitcoiners roll

https://bit.ly/3zSNI1y via /r/Bitcoin https://bit.ly/3uhhvQ8

Federal Reserve Presidents Kaplan and Rosengren step down this morning following scrutiny over insider trading in 2020.

https://bloom.bg/3zP4ePX via /r/Bitcoin https://bit.ly/3kJpK4n

Dont wait to buy Bitcoin. Buy Bitcoin, and wait.

Happy Monday everyone.

Heres to a good week!

Submitted September 27, 2021 at 11:11PM by thadiusb https://bit.ly/3i83bEP

If you invested $3/day into bitcoin for the last 6 years, you would be holding over $172,000 USD today from a total investment of $6,576. If you instead put that money toward Gold or stocks, you’d have less than $10k today.

No text found via /r/Bitcoin https://bit.ly/3uhFhvc

A third of El Salvador's population is actively using its bitcoin wallet Chivo, President Nayib Bukele says

https://bit.ly/3kK2EKZ

Submitted September 27, 2021 at 07:58PM by chrisdh79 https://bit.ly/39JoS9s

The goldbug Lawrence Lepard describing Bitcoin as sound money

https://bit.ly/3EW7Ymv

Submitted September 28, 2021 at 12:20AM by Amber_Sam https://bit.ly/3oe42rs

Dont wait to buy Bitcoin. Buy Bitcoin, and wait.

Happy Monday everyone.Heres to a good week! via /r/Bitcoin https://bit.ly/3i83bEP

Bitcoiners looking for fucks to give after hearing about China ban

https://bit.ly/3ibs829

Submitted September 28, 2021 at 12:18AM by MagoCrypto https://bit.ly/3CW6VRT

that is us

https://bit.ly/3ocnpRv

Submitted September 28, 2021 at 12:35AM by NeedleworkerNo2874 https://bit.ly/39Hje7T

The goldbug Lawrence Lepard describing Bitcoin as sound money

https://bit.ly/3EW7Ymv via /r/Bitcoin https://bit.ly/3oe42rs

BTC has more than doubled (1.765x) it's user base with the Twitter adoption. Massive network effect upgrade.

BTC 200 million wallets + Twitter 353 million advertising audience = Massive network effect expansion.

Add to this El Salvador and other onboarding countries plus their diaspora = another big upgrade.

Add to this how quick and cheap the BTC + Lightning transfer are = The future is here.

(gotta minus China tho)

Submitted September 27, 2021 at 02:19PM by Legonitsyn https://bit.ly/3o7e0e5

that is us

https://bit.ly/3ocnpRv via /r/Bitcoin https://bit.ly/39Hje7T

Bitcoiners looking for fucks to give after hearing about China ban

https://bit.ly/3ibs829 via /r/Bitcoin https://bit.ly/3CW6VRT

Sunday 26 September 2021

Daily Discussion, September 27, 2021

There's something about December, man.

In December 2013. One year after the first halving, Bitcoin touched $1k for the first time ever.In December 2016. Five months after the 2nd halving, Bitcoin touched $900 after being in the $300-$500 range for 3 years.On December the 17th, 2017: Bitcoin hits ~$20k.On December the 17th, 2020: Bitcoin hits ~$20k.There's something about December, man. via /r/Bitcoin https://bit.ly/3EQCLBj