US Senate Committee Approves the Blockchain Promotion Act ...

r/Bitcoin recap - October 2018

Hi Bitcoiners!
I’m back with the 22nd monthly Bitcoin news recap. I Hope you like the new, categorized format!
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in October 2018
Adoption
SegWit adoption rises to over 50% (4 Oct)
A large bus company in Europe accepts bitcoin (4 Oct)
A holiday home in Germany accepts bitcoin (4 Oct)
A coffee shop in Bern, Switzerland accepts Lightning Network payments (5 Oct)
A shop at Brisbane airport accepts bitcoin (7 Oct)
An exchange in Latin America adds Lightning Network payments (12 Oct)
Some Venezuelans have turned to cryptocurrency and gaming currencies to make money (13 Oct)
Mycelium wallet will finally support SegWit (16 Oct)
Australia Post helps Bitcoin adoption through its digital identity service (24 Oct)
Blockchain.com still hasn’t implemented SegWit 1.5 years after their promise (25 Oct)
The Lightning network is now at 12500 open channels (26 Oct)
A bar in Mexico City accepts bitcoin payments (28 Oct)
Development
A BTCPay server can now be deployed in 1 minute (2 Oct)
Bitcoin Core 0.17.0 is now available for download (3 Oct)
Electrum will get a Lightning Network integration (3 Oct)
Scaling Bitcoin Tokyo slides and presentations (5 Oct)
People discuss building on the Lightning Network at an upcoming event (11 Oct)
A Lightning Network-powered E-bike (14 Oct)
Bulletproofs were implemented in Monero resulting in a huge boost in scalability (20 Oct)
Watchtowers were merged into LND (25 Oct)
Wasabi Wallet 1.0 is released! (31 Oct)
Security
A discussion on “out of the box” Bitcoin nodes (20 Oct)
A warning about a “dusting attack” on wallets to deanonymise people (25 Oct)
Mining
By 2032 99% of all bitcoins will have been mined (6 Oct)
Bitmain’s new firmware is causing problems (22 Oct)
Antpool stops including transactions that use SegWit (29 Oct)
Business
The inventor of the World Wide Web launches a platform to redecentralize the Internet (1 Oct)
Coinbase added 5M users in ~6 months (3 Oct)
Yale University will reportedly invest $400M in a cryptocurrency fund (7 Oct)
An interview with the CEO of Bitrefill on their Lightning Network experiences (9 Oct)
The Liquid Network is officially launched as a Bitcoin sidechain (10 Oct)
Fidelity launches a digital asset service (15 Oct)
Goldman Sachs plans to use Bakkt’s cryptocurrency custody service (18 Oct)
Ledger reveals it sold 1.3M hardware wallets (18 Oct)
Goldman Sachs invests in cold storage solution provider BitGo (18 Oct)
Shapeshift’s KYC is now in place (19 Oct)
Coinbase and Circle announce the USDC stable coin (23 Oct)
An investigation finds that some crypto media outlets don’t disclose paid promotional content (25 Oct)
Research
A high-resolution Lightning Network overview (2 Oct)
Education
A guide on how to accept bitcoin using BTCPay server (14 Oct)
An explainer of Neutrino for the Lightning Network (17 Oct)
Bitcoin is the invention of digital scarcity (28 Oct)
10 years ago Satoshi Nakamoto published the Bitcoin Whitepaper to a mailing list (31 Oct)
Regulation & Politics
Scalability discussion at a Senate hearing in the US (12 Oct)
Japan grants cryptocurrency industry self-regulatory status (24 Oct)
Chinese court says it is legal to own and transfer bitcoin (26 Oct)
China’s merchants are legally allowed to accept bitcoin (27 Oct)
A US Presidential candidate wants to exempt cryptocurrencies from capital gains tax (30 Oct)
Archeology (Financial Incumbents)
Anti-cryptocurrency propaganda promoted by American Express (16 Oct)
Many of the banks calling bitcoin a money laundering tool are caught money laundering themselves (19 Oct)
Mastercard files patent for bitcoin transactions on credit cards (26 Oct)
The Visa CEO says cryptocurrency is not a big threat but they will support it if needed (27 Oct)
Banks asking you for the reason for payments is why we need bitcoin (28 Oct)
Price & Trading
Analysis on the activity of ‘whales’ in the bitcoin market (10 Oct)
Bitcoin has been less volatile than Nasdaq, Dow and S&P 500 (24 Oct)
Fun & Other
People discuss the quality of some largely upvoted posts on Bitcoin (7 Oct)
People try to make clear that Bitcoin has no CEO (8 Oct)
An easter egg in the Bitcoin genesis block (12 Oct)
A bitcoin ATM operator gets money back from the police who confiscated it (13 Oct)
eToro creates a cryptocurrency ad with Game of Thrones star (17 Oct)
$194M was moved using bitcoin with a $0.1 fee (19 Oct)
Why Bitcoin and Cryptocurrency have no future (21 Oct)
Elon Musk’s Twitter gets blocked when talking about Bitcoin upon suspicion of being hacked (23 Oct)
Apple co-founder Steve Wozniak plans to travel somewhere using only bitcoin (26 Oct)
A Halloween gift with claimable bitcoin (29 Oct)
Someone gifts $20 of Bitcoin to Janet Yellen’s public email after she makes negative statements on stage (30 Oct)
Bitcoin receives a lot of bad press based on a poorly researched report (30 Oct)
See you all next month! ✌️ Try to do something good for Bitcoin!
submitted by SamWouters to Bitcoin [link] [comments]

Find Out Why Institutions Will Flood the Bitcoin Market

As originally written via CoinLive: (improved reading experience)
Back in 2017, the blockchain industry experienced an unprecedented interest which ended in what is often referred in financial terms as “irrational exuberance”, with a large portion of the rally led by retail-type investors flooding the market to ultimately chase prices at illogically hefty levels based on the infancy stage of the technological advancements and its implementations.
That rise was too fast too quick and eventually, in early January 2018, the bubble-like move came to an abrupt end. The question now is, what will it take for another sustainable bull run to materialize? At CoinLive, we will inspect the key missing pieces of the puzzle. In this article, we will investigate the ever-growing list of evidence that shows why a new type of investors, the institutional ones, looks set to enter the market in mass.
The two critical impediments for the ‘smart money’ to have been on the sidelines are clearly identifiable. Firstly, it has to do with custodianship, in other words, having formal mechanisms that allow the safe storage of the asset. Secondly, the regulation around the crypto market must be clarified with clearer guidance.
When it comes to the first missing piece of custodianship, the NY Times recently helped shed a light on where we are headed. The influential newspaper reported that ICE (Intercontinental Exchange), which is the parent company behind the NY Stock Exchange (NYSE), is working confidentially in the implementation of swap contracts for banks and large investors that will be settled with the physical delivery of Bitcoin.
For ICE to even consider this idea it means that the problem of legal custodianship is being worked out so that the backing and security of Bitcoins by the NYSE will be in place. This will open the floodgates to a whole new market, where the King of cryptos and other digital assets down the road become available to a much wider and more influential customer base. We are certainly at a stage where institutions have recognized that Bitcoin is “too big to ignore”.
What’s also important is that by using a swap contract, the trading of Bitcoins will be oversight under the existing regulatory framework of the Commodity Futures Trading Commission, hence less regulatory uncertainty.
As a reminder, the CFTC is headed by J. Christopher Giancarlo, who is a proclaimed pro-blockchain endorser after his popular appearance in front of a U.S. Senate hearing on blockchain technology last February, where he famously said: “We owe it to this generation to respect their interest in this new technology.”
Moreover, earlier this year, Boston-based State Street, the world’s second-largest custody bank with around £24tn in assets under custody and administration, came out to announce that safeguarding clients' digital assets could be a service they are looking to provide a solution in the near future. If confirmed, it would represent a major move as it sets a precedent as the first global bank to provide custodianship services for crypto-related investments.
While Bitcoin is not serving its initially intended purpose as a widely used method of payments (for now), it has found another appeal as a store of value that is uncorrelated to any other asset class, hence it has an exceptional use as a hedging strategy for multi-billion dollar portfolios to help reduce the overall volatility.
Other stories strengthening the notion of institutional capital set to come into the cryptoverse include the news that Goldman Sachs will be trading futures contracts linked to Bitcoin’s price as an initial step, only to gradually transition into a more direct trading of buying and selling actual Bitcoins.
Find our recent article where we explain why Goldman Sachs trading Bitcoin is such a big deal.
Even the chief executive of Nasdaq, Adena Friedman, recently said considerations were being given to set up a virtual-currency exchange should the needed regulatory framework be resolved.
Additionally, we have seen a growing trend of senior-level executives at institutional firms flocking off the safety of their well-established positions to venture into blockchain-related jobs. We include a few articles with evidence below:
Goldman Sachs Executives are Moving to Cryptocurrency Hedge Funds
Mike Novogratz Makes Goldman VP the COO of His Crypto Company
Coinbase Hires Ex-Barclays Director to Expand Its Institutional Client Base
Commonwealth Bank CFO to Lead Block.one as President and COO
The migration in job positions from traditional financial markets into blockchain comes as no surprise and quite frankly, it appears to be a logical and rational step to be taken, especially in light of the new revenue streams the blockchain sector has to offer.
Proof of that is the fact that Binance, a crypto exchange with around 200 employees and less than 1 year of operations has overcome Deutsche Bank, which has more than 100,000 employees and over 150 years of history, in total profits. What this communicates is that the opportunities to grow an institution’s revenue stream is formidable once they decide to integrate cryptocurrencies into their business models.
Another piece of the puzzle, even if occurring behind closed doors, is the consideration to launch a Bitcoin ETF. Back in April, it was reported that the US Securities and Exchange Commission (SEC) has put back on the table two Bitcoin ETF proposals, according to public documents. The agency is under formal proceedings to approve a rule change that would allow NYSE Arca to list two exchange-traded funds (ETFs) proposed by fund provider ProShares.
The introduction of an ETF would make Bitcoin available to a much wider share of market participants, with the ability to directly buy the asset at the click of a button, essentially simplifying the current complexity that involves having to deal with all the cumbersome steps currently in place.
More evidence of the emergence of institutions playing a more dominant role in the blockchain industry is the unprecedented interest to amass Bitcoins in the OTC (Over the Counter Market). We perceive this trend as directly linked store Bitcoin as a store of value. This article by Bloomberg should give you a taste of what's happening behind the scenes: The Wealthy Are Hoarding $10 Billion of Bitcoin in Bunkers.
As ConLive recently tweeted: "Our network of Insiders telling us between 5000-10.000 BTC are being sold every week OTC by Chinese BTC miners to Israeli buyers - Wall Street type - as they look to accumulate a big hand in BTC. “
![](https://coinlive.io/ckeditor_assets/pictures/868/content_2018-05-15_0957.png)
Lastly, one of the most critical missing piece is the subject of global regulations. Back in March, Mark Carney, the head of Bank of England and the chief of the Financial Stability Board of G20 stated that “crypto-assets do not pose risks to global financial stability at this time.” That caused a temporary relief in the crypto sphere as the risk of a regulatory backlash was removed for the time being until July, the month when more clarity will be provided.
The chair of the Argentina Central Bank, Federico Sturzenegger, on his role of sitting the G20 summit, said that members showed a unifying view on the need of cryptocurrencies to be supported by a more sound regulatory framework. The policy-maker, however, made it clear that they first need to examine the cryptocurrencies universe to gather the necessary data before proposing regulations.
“In July we have to offer very concrete, very specific recommendations on, not ‘what do we regulate?’ but ‘what is the data we need?” Sturzenegger said.
To sum up, the improvements in custodianship solutions, along with more clarity by the G20 committee, which is set to provide less uncertainty for institutional investors’ involvement, is a recipe for a renewed bull wave, this time of institutional capital, to shake up the crypto space.
At CoinLive, we will not venture into the timing, as that is quite irresponsible trying to pretend we have a "crystal ball" to determine when moves will occur. We just simply look at the big picture and try to connect the dots by first breaking down the latest developments to then draw some conclusions. Never forget, markets should always be approached as a numbers' game, and while nothing is certain, we just attempt to envision and inform on scenarios with the highest likelihood.
submitted by Ivo333 to BitcoinMarkets [link] [comments]

Subreddit Stats: Bitcoin posts from 2018-10-09 to 2018-10-16 19:41 PDT

Period: 7.10 days
Submissions Comments
Total 765 10226
Rate (per day) 107.80 1494.28
Unique Redditors 596 3440
Combined Score 31658 33963

Top Submitters' Top Submissions

  1. 4526 points, 1 submission: Alexsayzz
    1. Anti-crypto propaganda... promoted by American Express (4526 points, 513 comments)
  2. 2391 points, 2 submissions: MoonMan_666
    1. Someone just paid $0.10 to move $194M (29,999 BTC). Think about how powerful that is for a second. (2369 points, 380 comments)
    2. Dev sends Bitcoin without using the web or the power grid (22 points, 4 comments)
  3. 2077 points, 1 submission: _Logicrypto
    1. When your boss thanks you for staying late at work but you were just watching the Bitcoin price and lost track of time (2077 points, 69 comments)
  4. 1496 points, 1 submission: bitbug42
    1. ⚡Lightning Network at the Senate - Counterargument to Roubini's speech that Bitcoin can never scale to serve the planet (1496 points, 186 comments)
  5. 1417 points, 1 submission: opencoins
    1. Why sell and pay capital gains, why not wait for mass adoption? That's my motto. (1417 points, 244 comments)
  6. 1174 points, 1 submission: awertheim
    1. Took a while but finally part of the picture club (had to wait on the web browser update!) (1174 points, 127 comments)
  7. 853 points, 1 submission: Hodl_it
    1. Feeling good? (853 points, 215 comments)
  8. 833 points, 1 submission: cointastical
    1. Bitcoin ATM operator gets the $62,500 that police confiscated back (833 points, 110 comments)
  9. 802 points, 2 submissions: JandyJammer
    1. Congratulations US senators for understanding crypto better than this guy (748 points, 125 comments)
    2. How is Bitmex the biggest exchange... total joke. I hope their competitors crush them. (54 points, 49 comments)
  10. 704 points, 1 submission: lesbiansareoverrated
    1. ...in case you missed the laura shill burn today (704 points, 100 comments)
  11. 512 points, 5 submissions: castorfromtheva
    1. Mycelium wallet will FINALLY get segwit! "This month" as stated by Mycelium developers on 9 October 2018. Glad to hear! I am excited. (312 points, 136 comments)
    2. Just saw it on their website: Ledger Nano S 20% off, directly from manufacturer! For six days, starting today. Just in case you consider getting a hardware wallet. (146 points, 84 comments)
    3. Newsflash: Bitfinex Unveils ‘Distributed Banking Solution,’ Resumes Fiat Deposits (44 points, 8 comments)
    4. Binance Uganda Launch 80% Ready As Users Can Now Sign Up: Deposits & Trading Coming Soon (8 points, 1 comment)
    5. Article: "Cryptos at a turning point", trustnodes.com (2 points, 0 comments)
  12. 510 points, 4 submissions: eddieweng
    1. Someone moved 12,220 BTC ($82M) in block 545,877 (393 points, 180 comments)
    2. Someone moved 22,200 BTC ($139M) in block 545,243 (90 points, 38 comments)
    3. CoinMarketBull – CoinMarketCap, but with a different metric (26 points, 4 comments)
    4. holdernews - trending stories on bitcointalk (1 point, 0 comments)
  13. 387 points, 1 submission: StoneHammers
    1. We are three months away from Bitcoins 10 year anniversary. (387 points, 39 comments)
  14. 366 points, 3 submissions: TrackCoinMarket-com
    1. Citizens of Venezuela have turned to Bitcoin and gold farming in online games to survive the country’s economic collapse. (365 points, 60 comments)
    2. Zambian Central Bank Declares Bitcoin Is Not Legal Tender (1 point, 7 comments)
    3. Bitcoin is Maturing, Crypto Growth Surprisingly Positive Reveals Study (0 points, 3 comments)
  15. 358 points, 1 submission: musicfan39
    1. Bitcoin all-time price graph (Aug 2010 – Oct 2018) (358 points, 84 comments)
  16. 311 points, 5 submissions: TheGreatMuffin
    1. Bitfinex' statement on fiat deposits/withdrawals (tldr: fiat and crypto withdrawals working, fiat deposits temporarily paused) (103 points, 52 comments)
    2. Bitfinex suspends all fiat deposits, “expects the situation to normalize within a week” (78 points, 62 comments)
    3. Fidelity gives a nod to OG cypherpunks (mentioning Adam Back, Nick Szabo, David Chaum) and bitcoin's precursors in their newest blog post (78 points, 0 comments)
    4. full video of the US Senate hearing on cryptocurrency: with P. Van Valkenburgh and N. Roubini as witnesses (starts at minute 16) (31 points, 5 comments)
    5. Interview with one of the creators of the Samourai wallet (21 points, 1 comment)
  17. 305 points, 1 submission: 6maud
    1. Jamie Dimon: Bitcoin is a scam. Also Jamie Dimon: Let's file 20 blockchain patents so we don't miss out on this blockchain thing. facepalm (305 points, 93 comments)
  18. 274 points, 2 submissions: undertheradar48
    1. $6.9 trillion of assets just got access to the world of crypto! (169 points, 24 comments)
    2. 1.65 Million people are attending over 5,000 Bitcoin meetups around the world. Organic interest/curiosity is real! (105 points, 41 comments)
  19. 265 points, 1 submission: NoGooderr
    1. Shorters, are you okay? (265 points, 123 comments)
  20. 253 points, 5 submissions: _smudger_
    1. Bakkt CEO: We're About To See A Cryptocurrency Revolution (130 points, 29 comments)
    2. Our team, launch and advocacy – Bakkt Blog – Medium (104 points, 33 comments)
    3. Coinbase's Adam White is joining Bakkt as its COO - The Block (16 points, 1 comment)
    4. The Bright Side of the 2018 Bitcoin Bear Market – Wes Carlson – Medium (2 points, 0 comments)
    5. Analysis: ErisX & Bakkt Are All in on the Battle for Institutional Cash (1 point, 0 comments)
  21. 247 points, 1 submission: Fly115
    1. It would be impossible for every Fidelity brokerage customer to own even one Bitcoin. This is why Bitcoins are worth thousands of dollars, while a dollar is only worth one dollar (and only until next year when when it's worth 97 cents). - Erik Voorhees (247 points, 129 comments)
  22. 237 points, 1 submission: manfromnantucket1984
    1. Bear markets are for building! 🐻⚡ While the price is doing what it does, we continue to build the #LightningNetwork at the #LightningHackdayNYC in New York on October 27th/28th 2018. Speakers like Christian Decker, Matt Corallo and Peter Todd will take you down the rabbit hole. (237 points, 15 comments)
  23. 232 points, 1 submission: TheMidnightMatinee
    1. Guys lets rally and show your support for an BTC ETF! Here's why! (232 points, 63 comments)
  24. 231 points, 2 submissions: installeris
    1. Fidelity just made it easier for hedge funds and other pros to invest in cryptocurrencies (169 points, 36 comments)
    2. Nouriel Roubini has always been talking sh*t about Bitcoin. And he's always wrong. (62 points, 29 comments)
  25. 226 points, 1 submission: lewtr
    1. An easter egg in the Bitcoin genesis block code (226 points, 40 comments)
  26. 218 points, 1 submission: Unusual_Mountain
    1. Bitcoin as a safe haven from monetary policy can help keep governments and banks honest. It doesn't have to replace them. (218 points, 85 comments)
  27. 214 points, 1 submission: Mobilenewsflash
    1. Roubini (214 points, 50 comments)
  28. 212 points, 1 submission: CardCollector1
    1. Getting Started with BTCPay Server - Free and Open Source Bitcoin and Lightning Network payment processor (212 points, 75 comments)
  29. 201 points, 1 submission: yonstonston
    1. Sorry guys, i bought BTC yesterday... (201 points, 72 comments)
  30. 161 points, 2 submissions: linzex
    1. A Bitcoin Lesson From A Yogi Master (93 points, 6 comments)
    2. ChangeNow Exchange Accused of $70,000 Theft (68 points, 8 comments)
  31. 159 points, 3 submissions: zappadoing
    1. greetings from holidays - I thought I won't have to read anything about bitcoin this time... (130 points, 12 comments)
    2. Telegram down! Lots of Bitcoin-Groups not accessible. We need something decentralized. (19 points, 26 comments)
    3. Colleges Are Baffled by Bitcoin Donations (10 points, 0 comments)
  32. 159 points, 1 submission: Crevative
    1. Zimbabwe spirals into economic chaos as fears of another round of hyperinflation begin to spark - another fiat currency fails! (159 points, 20 comments)
  33. 147 points, 1 submission: lexihayes99
    1. Just wanted to remind people of a simpler time :) (147 points, 196 comments)
  34. 146 points, 1 submission: Rare_Ad
    1. Bitcoin was a tool that was born of the economic crisis some 10 years ago, does that mean another big recession or banking collapse could catapult it forward? (146 points, 87 comments)
  35. 146 points, 1 submission: vmrey
    1. Buda, the largest crypto exchange by volume in Chile, is one of the first to incorporate Lightning network. (146 points, 14 comments)
  36. 145 points, 1 submission: wwwdata
    1. I own crypto but not Bitcoin. (145 points, 243 comments)
  37. 141 points, 9 submissions: expertbit
    1. This E-Bike Accepts Payments With Bitcoin's Lightning Network (51 points, 3 comments)
    2. Bitcoin [BTC] transfers will become a lot faster with Liquid Network, says Jimmy Song (37 points, 58 comments)
    3. Top Universities Are Now Investing in Cryptocurrency Funds (18 points, 0 comments)
    4. Indian Exchange Unocoin Could Launch Crypto ATMs (17 points, 0 comments)
    5. Bitcoin Price Stability -- A Bullish Or Bearish Sign? (15 points, 1 comment)
    6. Don’t Underestimate China’s Power In Bitcoin (2 points, 3 comments)
    7. Bitcoin Price Analysis: Bulls Defend Yearly Support Amidst Wall Street Slump (1 point, 0 comments)
    8. Bitcoin Network Comes To A Standstill In China (0 points, 2 comments)
    9. Bitcoin Price Jumps by $600 to Reach One-Month High Above $6.9k (0 points, 0 comments)
  38. 137 points, 1 submission: diditmakesound
    1. Everyone still buying right now (137 points, 30 comments)
  39. 135 points, 1 submission: gattacibus
    1. POLONIEX suspends Bitcoin withdrawals (135 points, 86 comments)
  40. 129 points, 3 submissions: nopara73
    1. Wasabi Wallet added OSX support. Please consider testing it. (55 points, 25 comments)
    2. Scoring Bitcoin Wallets (38 points, 25 comments)
    3. A Technical Overview of Wasabi Wallet, Future Ideas, Plans and Strategy (36 points, 1 comment)
  41. 123 points, 1 submission: Big_Bluefin
    1. Live from Fremont Street in Las Vegas (123 points, 20 comments)
  42. 121 points, 1 submission: agustinf
    1. Latin American Exchange Buda.com adds Lightning Network payments for all. (121 points, 17 comments)
  43. 118 points, 2 submissions: TheCrunk1
    1. Fidelity launches new company for trading, storing cryptocurrencies (98 points, 26 comments)
    2. Binance launches fiat-to-crypto exchange in Uganda (20 points, 7 comments)
  44. 112 points, 1 submission: Thinkmoreaboutit
    1. "Over the weekend I sent a bitcoin transaction to a relay 12.6km away with no cell network or internet connection. Here's a tweetstorm about how I used @gotenna and @SamouraiWallet to do it" [email protected] (112 points, 20 comments)
  45. 111 points, 1 submission: Jackieknows
    1. When it comes to your coins, keep it quiet. – Trezor Blog (111 points, 10 comments)
  46. 110 points, 1 submission: 100ravp
    1. Someone solved the 310.00 BTC challenge (110 points, 87 comments)
  47. 110 points, 1 submission: loulan
    1. There was an attempt (110 points, 78 comments)
  48. 106 points, 1 submission: king-only
    1. Breez, a Lightning Network mobile client, is now fully open sourced (106 points, 19 comments)
  49. 101 points, 2 submissions: HodlingToTheMoon
    1. Websites using Joomla (second most popular platform after Wordpress), can now be enabled with Bitcoin payments - In less than 5 min! (98 points, 5 comments)
    2. Got business on your mind? Here are 7 easy and genuine ideas to start a Bitcoin-centric e-commerce store! (3 points, 0 comments)
  50. 98 points, 1 submission: ubunt2
    1. Fidelity Starts Crypto Unit to Serve Wall Street Customers (98 points, 4 comments)
  51. 97 points, 1 submission: CosmicHemorroid
    1. Lightning Powered E-bike #Reckless (97 points, 22 comments)
  52. 96 points, 3 submissions: DesignerAccount
    1. Bitcoin is all grown up! (83 points, 6 comments)
    2. [Bitcoin OpSec - Keep your coins safe] Detailed breakdown of sophisticated scam (12 points, 6 comments)
    3. Infographic - How do UTXOs work? (1 point, 0 comments)
  53. 96 points, 1 submission: bowlingfries
    1. Bitcoin kiosk in Portland OR weed dispensary (96 points, 21 comments)
  54. 94 points, 1 submission: nassimmontreal
    1. #roubinilovescrypto (94 points, 37 comments)
  55. 92 points, 2 submissions: ella11price
    1. Selling goods and items for Bitcoin should be easy. I built a marketplace similar to eBay so people can sell anything for crypto. This video explains it. (91 points, 63 comments)
    2. The best ways to earn bitcoin and cryptocurrency. Includes how to spot a scam (1 point, 0 comments)
  56. 91 points, 1 submission: ytcoinartist
    1. The Golden Pineapple, a 3D combination puzzle for all ages and free to play. Be the first to solve the final level and win 1 BTC, courtesy of The Pineapple Fund. http://pineapplearcade.net/arcade-game/pineapple (91 points, 25 comments)
  57. 89 points, 1 submission: Rachsuchtig
    1. An BTC ATM at Austria/Salzburg Shopping Arena, totally surprised to see (89 points, 11 comments)
  58. 87 points, 2 submissions: Ishan1121
    1. Bitcoin proves once again its the best way to transfer money! $194 million transferred for 10 cents. (87 points, 18 comments)
    2. Discussion: So Bitcoin rises as fake news on Binance delisting Tether (USDT) goes viral...removing Tether completley will affect the market positively? THoughts? (0 points, 6 comments)
  59. 87 points, 1 submission: Blixx87
    1. I finally figured it out! We have been forming a Dorito Pattern and it’s on it’s way to the cheese dip. (87 points, 49 comments)
  60. 86 points, 8 submissions: EffigyBoy
    1. Venezuelans Play RuneScape To Make Small Profit In Bitcoin (31 points, 4 comments)
    2. CFTC Chair On Bitcoin Expansion: "We Are Seeing More Institutional Movement Into This Area" (26 points, 0 comments)
    3. The Indian Government is Considering to Launch Its Own Cryptocurrency to Avoid Citizens Using Bitcoin (13 points, 14 comments)
    4. The Congress Is Groping In The Dark To Handle Cryptocurrencies. Bitcoin has come into the mainstream. (6 points, 0 comments)
    5. After Stock Markets Plunge Cryptocurrency Whale Dumps over 22 100 BTC (5 points, 11 comments)
    6. Scientific Journal 'Chaos' Favors Bitcoin – As stable as Oil and Dollar Markets (2 points, 1 comment)
    7. The First Physical Cryptocurrency Store in The U.S. Launches on October 20 (2 points, 1 comment)
    8. Omniex and Gemini Struck A Partnership to Support Institutional Investors (1 point, 0 comments)
  61. 85 points, 2 submissions: jakesonwu
    1. Release - Eclair v0.2-beta7 - Compatible with Bitcoin Core 0.17.0 (75 points, 8 comments)
    2. Lord Keynes Would Be Proud (10 points, 1 comment)
  62. 84 points, 2 submissions: renepickhardt
    1. ECDSA is not that bad: two-party signing without Schnorr or BLS (by Stepan Snigirev) (53 points, 7 comments)
    2. Last week in Lightning Network: A weekly collection of lightning network (and related) news on Twitter (31 points, 6 comments)
  63. 83 points, 3 submissions: OldCarpet54
    1. [GIVEAWAY] Crypto Invest Summit – Wozniak, Gupta, Morehead (82 points, 1 comment)
    2. blockchain news: from SF Blockchain Week and XBlockchain (1 point, 0 comments)
    3. Buterin | SpankChain | Kambria: San Francisco Blockchain Week (0 points, 0 comments)
  64. 83 points, 1 submission: -elektro-pionir-
    1. AMA with Bitcoin engineer Jameson Lopp (83 points, 21 comments)
  65. 80 points, 3 submissions: ysangkok
    1. Bitcoin script discussion at Scaling Bitcoin: "Sporks are probabilistic soft-forks [...] where instead of [...] version bits if the blockhash has some [...] PoW below some threshold, it activates. [...] [E.g.] you have an expectation of 6 months to get your shit together. Doing it live." (28 points, 3 comments)
    2. Multi-Hop Locks for Secure, Privacy-Preserving and Interoperable Payment-Channel Networks (27 points, 8 comments)
    3. Scaling Bitcoin Kaizen - Scriptless scripts, adaptor signatures and their applications (25 points, 2 comments)
  66. 78 points, 3 submissions: mkuraja
    1. What's the difference between Lightning Network and Liquid Network? (57 points, 41 comments)
    2. Need some fresh, new FOMO in your life? Reenter, Trace Mayer. (15 points, 1 comment)
    3. This American tourist thought I'd see "Bitcoin Accepted Here" all over Tokyo, Japan but not one place found yet. (6 points, 17 comments)
  67. 77 points, 1 submission: Miladran
    1. Fidelity Says It Will Trade Bitcoin for Hedge Funds (77 points, 1 comment)
  68. 77 points, 1 submission: pandaman200
    1. Swiss Crypto Fund Obtains Country’s First Crypto Asset Management License (77 points, 4 comments)
  69. 75 points, 3 submissions: mickhick95
    1. I purchased a goTenna to broadcast my BTC transactions with TxTenna and Samourai Wallet. (44 points, 15 comments)
    2. I saw a Bitcoin ATM and I had to make a purchase. (28 points, 41 comments)
    3. 303-ish Days in the BTC Bear Market, This Sideways Motion Looks Like A Turn Around!!! (3 points, 16 comments)
  70. 75 points, 1 submission: hcarpach
    1. Venezuelan cryptocurrency miner: “we are police’s most wanted” (75 points, 21 comments)
  71. 73 points, 6 submissions: WorkCoin_Team
    1. “Bitcoin enables certain uses that are very unique. I think it offers possibilities that no other currency allows. For example the ability to spend a coin that only occurs when two separate parties agree to spend the coin; with a third party that couldn’t run away with the coin itself.” – Pieter Wui (66 points, 14 comments)
    2. Revolution of Bitcoin (5 points, 3 comments)
    3. A Funny Bitcoin Thought (2 points, 20 comments)
    4. Getting started with Bitcoin (0 points, 1 comment)
    5. Make your foundation strong (0 points, 0 comments)
    6. What are you not willing to compromise? (0 points, 6 comments)
  72. 73 points, 1 submission: ozdixon
    1. Bitcoin accepted at a absenth bar in Prague. (73 points, 11 comments)
  73. 72 points, 1 submission: Itasia
    1. What Are Atomic Swaps? Ultimate Guide (72 points, 16 comments)
  74. 71 points, 1 submission: MannyAndDrChurchShow
    1. I wonder if they would still honor this card.... (71 points, 9 comments)
  75. 68 points, 4 submissions: grittygatorr
    1. Liquid Network - the world’s first production Bitcoin sidechain has officially gone live (65 points, 100 comments)
    2. XDEX Advertises Commission-Free Bitcoin Trading in Brazil (2 points, 0 comments)
    3. Coinfloor to Cut on Staff and Reorganize Amid Volume Fluctuations in the Crypto Markets (1 point, 0 comments)
    4. Barclays Temporarily Suspends Work on Cryptocurrency Trading Project (0 points, 1 comment)
  76. 68 points, 1 submission: WouterGlorieux
    1. Introducing 'The Bitcoin Spellbook': an open-source REST API server for the back-end of (almost) any Bitcoin application. (Think of it as your own IfThisThenThat server but for Bitcoin) (68 points, 3 comments)
  77. 67 points, 1 submission: Vaultoro_official
    1. Leading up to the LightingNetwork Hackathon in NY, I thought I would post the talks we filmed at the Berlin lightningHackDay. Some amazing talks! (67 points, 1 comment)
  78. 65 points, 1 submission: Komodor123
    1. Do you speak more than one language? Then help spread Bitcoin around the world by translating Bitcoin.org! (65 points, 28 comments)
  79. 63 points, 1 submission: Sandiegosurf1
    1. Fidelity Launches Institutional Crypto Trading and Clearing. Let the institutional money flow! (63 points, 1 comment)
  80. 63 points, 1 submission: TearAnus-SoreAssRekt
    1. Buying PC Games With Bitcoin: Site Reviews (with some accepting Lightning!) (63 points, 7 comments)
  81. 62 points, 1 submission: CryptoCloaks
    1. We finally got our RaspiBlitz case to a level we love! Time for load testing to check thermals, final mods are almost done! (62 points, 10 comments)
  82. 61 points, 1 submission: sagiher
    1. #Liberte#CaribbeanBitcoin#ShoutOutToAllBitcoinDeveloperOutThere (61 points, 9 comments)

Top Commenters

  1. PragmaticParadox (465 points, 7 comments)
  2. ikarienator (462 points, 1 comment)
  3. Hanspanzer (434 points, 106 comments)
  4. Toyake (434 points, 71 comments)
  5. uglymelt (394 points, 3 comments)
  6. UsherTechs (377 points, 1 comment)
  7. isdudu (345 points, 4 comments)
  8. TyroneTheDriver (307 points, 1 comment)
  9. Rattlesnake_Mullet (296 points, 11 comments)
  10. andycam7 (282 points, 3 comments)
  11. dmdeemer (275 points, 1 comment)
  12. BTCkoning (266 points, 114 comments)
  13. CP70 (257 points, 7 comments)
  14. ascension8438 (239 points, 7 comments)
  15. Fly115 (226 points, 9 comments)
  16. haribo_2016 (220 points, 4 comments)
  17. dsmid (214 points, 1 comment)
  18. i_gotta_say (208 points, 87 comments)
  19. TheGreatMuffin (206 points, 56 comments)
  20. ebaley (198 points, 34 comments)
  21. bitsteiner (185 points, 86 comments)
  22. Redditridder (181 points, 5 comments)
  23. KupKhunKrap (173 points, 36 comments)
  24. 45sbvad (169 points, 3 comments)
  25. c3corvette (165 points, 2 comments)
  26. killerstorm (163 points, 8 comments)
  27. evilgrinz (158 points, 48 comments)
  28. chronic_nervosa (140 points, 1 comment)
  29. bigdaddysdick (136 points, 7 comments)
  30. castorfromtheva (129 points, 27 comments)
  31. Touchmyhandle (125 points, 12 comments)
  32. Euphoricsoul (122 points, 1 comment)
  33. WaterMac27 (122 points, 1 comment)
  34. DSXIII (118 points, 1 comment)
  35. RIMS_REAL_BIG (117 points, 24 comments)
  36. cryptogrip (112 points, 39 comments)
  37. WalterRyan (108 points, 10 comments)
  38. sudophant (107 points, 5 comments)
  39. NotSeeTroll (104 points, 37 comments)
  40. deadleg22 (104 points, 10 comments)
  41. shared_makes_it_real (103 points, 26 comments)
  42. alexiglesias007 (103 points, 7 comments)
  43. Buttoshi (102 points, 68 comments)
  44. flunderbossanova (102 points, 59 comments)
  45. lexihayes99 (101 points, 28 comments)
  46. mabezard (101 points, 2 comments)
  47. peniswithahoodie (98 points, 1 comment)
  48. beloboi (96 points, 65 comments)
  49. vovr (89 points, 3 comments)
  50. segells4soulsmogoblo (89 points, 1 comment)
  51. damchi (87 points, 21 comments)
  52. smadgerano (81 points, 14 comments)
  53. time_wasted504 (80 points, 34 comments)
  54. joeknowswhoiam (80 points, 16 comments)
  55. diydude2 (79 points, 26 comments)
  56. sQtWLgK (79 points, 17 comments)
  57. 989x4000 (78 points, 22 comments)
  58. sreaka (78 points, 16 comments)
  59. YoungScholar89 (78 points, 6 comments)
  60. Ellipso (76 points, 2 comments)
  61. HitsABlunt (76 points, 1 comment)
  62. almkglor (75 points, 39 comments)
  63. MrRGnome (75 points, 37 comments)
  64. Daddeus65 (75 points, 28 comments)
  65. whalecheetah (75 points, 25 comments)
  66. BCash_BeTrash (75 points, 23 comments)
  67. cipher-space (75 points, 19 comments)
  68. bnuttall (72 points, 2 comments)
  69. chrisrico (71 points, 26 comments)
  70. esdraelon (71 points, 8 comments)
  71. ale1ormont (71 points, 2 comments)
  72. igadjeed (70 points, 42 comments)
  73. Holographiks (70 points, 19 comments)
  74. frankieboy07 (70 points, 2 comments)
  75. snazzycoins (69 points, 12 comments)
  76. dmar198 (69 points, 11 comments)
  77. protoman86 (69 points, 7 comments)
  78. bitbug42 (68 points, 5 comments)
  79. CardCollector1 (66 points, 16 comments)
  80. hawks5999 (66 points, 7 comments)
  81. DefiantVerse (65 points, 12 comments)
  82. psionides (65 points, 8 comments)
  83. btc-forextrader (64 points, 37 comments)
  84. UniqueNewQuark (63 points, 5 comments)
  85. imaducksfan (63 points, 1 comment)
  86. bitusher (62 points, 23 comments)
  87. homad (62 points, 13 comments)
  88. torbitonsa (62 points, 7 comments)
  89. violencequalsbad (62 points, 7 comments)
  90. wwwdata (61 points, 20 comments)
  91. LadyRosedancer (61 points, 1 comment)
  92. Nunoyabiznes (60 points, 22 comments)
  93. pg3crypto (60 points, 13 comments)
  94. XxArmadaxX (60 points, 4 comments)
  95. awertheim (59 points, 27 comments)
  96. Ploxxx69 (59 points, 1 comment)
  97. TheGlassStone (59 points, 1 comment)
  98. moodytomatoes (58 points, 39 comments)
  99. Sneakybobo (58 points, 13 comments)
  100. UniqueCandy (58 points, 8 comments)

Top Submissions

  1. Anti-crypto propaganda... promoted by American Express by Alexsayzz (4526 points, 513 comments)
  2. Someone just paid $0.10 to move $194M (29,999 BTC). Think about how powerful that is for a second. by MoonMan_666 (2369 points, 380 comments)
  3. When your boss thanks you for staying late at work but you were just watching the Bitcoin price and lost track of time by _Logicrypto (2077 points, 69 comments)
  4. ⚡Lightning Network at the Senate - Counterargument to Roubini's speech that Bitcoin can never scale to serve the planet by bitbug42 (1496 points, 186 comments)
  5. Why sell and pay capital gains, why not wait for mass adoption? That's my motto. by opencoins (1417 points, 244 comments)
  6. Took a while but finally part of the picture club (had to wait on the web browser update!) by awertheim (1174 points, 127 comments)
  7. Feeling good? by Hodl_it (853 points, 215 comments)
  8. Bitcoin ATM operator gets the $62,500 that police confiscated back by cointastical (833 points, 110 comments)
  9. Congratulations US senators for understanding crypto better than this guy by JandyJammer (748 points, 125 comments)
  10. ...in case you missed the laura shill burn today by lesbiansareoverrated (704 points, 100 comments)

Top Comments

  1. 462 points: ikarienator's comment in Feeling good?
  2. 456 points: PragmaticParadox's comment in Anti-crypto propaganda... promoted by American Express
  3. 387 points: uglymelt's comment in ⚡Lightning Network at the Senate - Counterargument to Roubini's speech that Bitcoin can never scale to serve the planet
  4. 377 points: UsherTechs's comment in When your boss thanks you for staying late at work but you were just watching the Bitcoin price and lost track of time
  5. 342 points: isdudu's comment in Anti-crypto propaganda... promoted by American Express
  6. 307 points: TyroneTheDriver's comment in Anti-crypto propaganda... promoted by American Express
  7. 276 points: andycam7's comment in Why sell and pay capital gains, why not wait for mass adoption? That's my motto.
  8. 275 points: dmdeemer's comment in Someone just paid $0.10 to move $194M (29,999 BTC). Think about how powerful that is for a second.
  9. 268 points: Rattlesnake_Mullet's comment in Someone moved 12,220 BTC ($82M) in block 545,877
  10. 244 points: CP70's comment in Anti-crypto propaganda... promoted by American Express
Generated with BBoe's Subreddit Stats
submitted by subreddit_stats to subreddit_stats [link] [comments]

Removed comments from Economics subreddits - 07/24/18

👆lol
Comment removed from /badeconomics - lowskilled_immigrant - Created on 07/24/18 00:00:42 UTC - permalink
Serves you cunts right. Vote in shit, get your shit on your face.
Comment removed from /Economics - speciesunworthy - Created on 07/24/18 00:22:06 UTC - permalink
Nope just a patriot pissed off at economic attacks on my country. I'm actively boycotting US products and travel where feasible. They voted for this so FUCK THEM.
Comment removed from /Economics - speciesunworthy - Created on 07/24/18 00:27:56 UTC - permalink
Same here even switched to locally made vodka and beer. Remember, they hate us cuz they ain’t us. Hopefully the next one in office undoes all the shit this one has done
Comment removed from /Economics - lord-derricicus - Created on 07/24/18 01:36:14 UTC - permalink
The reason why fiat has failed is largely due to the global elite purchasing bitcoin. Effectively moving the supply curve right and decreasing demand for paper currency.
Comment removed from /badeconomics - Augustus_Trollus_III - Created on 07/24/18 01:52:26 UTC - permalink
I honestly couldn’t care less about the plight of some soybean farmers.
Comment removed from /Economics - FloatyFish - Created on 07/24/18 02:14:40 UTC - permalink
You're an idiot, good luck
Comment removed from /Economics - europeanconsumer - Created on 07/24/18 03:08:42 UTC - permalink
Says the dude who posts in t_d
Comment removed from /Economics - Spy_v_Spy_Freakshow - Created on 07/24/18 03:12:20 UTC - permalink
Yeah, and guess what, they aren't going to just give it back either!
Comment removed from /Economics - CarbonLifeForm69 - Created on 07/24/18 03:31:10 UTC - permalink
Geeze, you sound exactly like a Trump voter, dude. Take it easy.
Comment removed from /Economics - tktk77 - Created on 07/24/18 03:52:15 UTC - permalink
That’s a pretty shortsighted approach to take
Comment removed from /Economics - 255979119 - Created on 07/24/18 04:40:38 UTC - permalink
So essentially.... capitalism vs communism?
Comment removed from /AskEconomics - waynerooney501 - Created on 07/24/18 04:59:50 UTC - permalink
Price theory only applies to firms when they face decreasing returns to scale, hence it really doesn't describe many parts of the real economy.
Comment removed from /AskEconomics - themountaingoat - Created on 07/24/18 05:04:09 UTC - permalink
Yeh fuck farmers! Who needs food anyways. Fuckin jabroni
Comment removed from /Economics - czechweasel - Created on 07/24/18 05:20:34 UTC - permalink
You get what you voted for.
Comment removed from /Economics - Muny30 - Created on 07/24/18 05:36:58 UTC - permalink
Yup serves these hillbillies right.
Comment removed from /Economics - littlecro - Created on 07/24/18 08:08:23 UTC - permalink
At least some poor underage pregnant girls won't be getting abortions...
Comment removed from /Economics - cd411 - Created on 07/24/18 11:44:30 UTC - permalink
Trump voters getting exactly what they voted for.
Comment removed from /Economics - drobinsondn - Created on 07/24/18 12:09:49 UTC - permalink
So, because they’re farmers they’re all Trump-supporting hillbillies?
Comment removed from /Economics - maosaysmiao - Created on 07/24/18 12:17:17 UTC - permalink
I don’t eat soy, therefore I’m not impacted 😀
Comment removed from /Economics - FloatyFish - Created on 07/24/18 12:24:26 UTC - permalink
They voted for Trump which means they’re responsible for this. I’m tired of hearing them bitch about their plight when it’s self inflicted.
Comment removed from /Economics - FloatyFish - Created on 07/24/18 12:29:07 UTC - permalink
I know, it’s not fair. But since we are all suffering because of what is going on and people’s kids are sitting around in cages, I’m not gonna feel that bad if the South suffers with us. They can bear the burden of their shit decisions.
Comment removed from /Economics - littlecro - Created on 07/24/18 13:06:14 UTC - permalink
Maybe I haven't read enough articles, but I'd like to see more and more of these people being adversely affected by the tariffs start to call Trump by name or to express regret in voting for him.
Comment removed from /Economics - MasterClown - Created on 07/24/18 13:31:25 UTC - permalink
That's why the Republicans will make sure the US famers don't even notice.
They're bring back a depression-era program to subsidize the farmers hurt during the trade war. This should hold over the rural republican voters until the midterm or even the presidential election. They'll just use tax dollars to pay for farmers being hurt by the trade war as long as they keep voting republican.
Comment removed from /Economics - It-Wanted-A-Username - Created on 07/24/18 13:45:36 UTC - permalink
Hey, I'm a 30 year old American!
Oh...
Comment removed from /Economics - pwlocke13 - Created on 07/24/18 13:53:06 UTC - permalink
So their answer is to steal it and redistribute
Comment removed from /Economics - AFreedomLover - Created on 07/24/18 14:11:15 UTC - permalink
Got any better ideas?
Comment removed from /Economics - joehillen - Created on 07/24/18 14:22:47 UTC - permalink
Innovation, hard work, not being a victim, stop the pity party. Stop blaming everyone else.
Comment removed from /Economics - AFreedomLover - Created on 07/24/18 14:25:30 UTC - permalink
Taxes aren’t stealing.
Comment removed from /Economics - Finally_Adult - Created on 07/24/18 14:38:44 UTC - permalink
Cool story
Comment removed from /Economics - shades344 - Created on 07/24/18 14:44:05 UTC - permalink
You are arguing semantics.
If I demand your money (for prection, of course), and that is backed by the threat of violence, that's stealing.
You don't want to call taxes stealing, because the entity doing the stealing also writes the law that defines what is legally theft.
(Note: I think taxes for thepublic good and the threat of punishment for failure to pay are both necessary... But let's not try and pretend it's not stealing.)
Comment removed from /Economics - persolb - Created on 07/24/18 14:46:13 UTC - permalink
That’s so silly. You get a return on your investment in the government. Some people get a shittier return than others, sure. But everyone benefits from the programs that taxes provide.
Calling it stealing is silly.
Comment removed from /Economics - Finally_Adult - Created on 07/24/18 14:48:43 UTC - permalink
I also get a return on my investment when I pay a protection racket... And every that pays gets the benefit
Comment removed from /Economics - persolb - Created on 07/24/18 14:52:49 UTC - permalink
It’s so ridiculous to call taxes stealing. We elect officials to represent us, they enact taxation laws, which represent our interests. What are we stealing from ourselves? Silly...
Comment removed from /Economics - Finally_Adult - Created on 07/24/18 14:56:10 UTC - permalink
You have a very optimistic view on government.
51% of the population votes in people to then take away everything some other subset of the population has. This isn't stealing?
(Note: this has happened in multiple counties, and this article is talking about a WAY waterered down version of this)
Comment removed from /Economics - persolb - Created on 07/24/18 14:59:30 UTC - permalink
Everything? That’s a bit hyperbolic wouldn’t you say?
If people don’t participate in voting is that somehow the other people’s fault?
I understand government is inefficient, I don’t like the way all of it is spent for sure. But that doesn’t make taxes stealing.
Comment removed from /Economics - Finally_Adult - Created on 07/24/18 15:01:04 UTC - permalink
Jesus Christ.
Comment removed from /Economics - internal69audit - Created on 07/24/18 15:01:42 UTC - permalink
You missed my point. If 51% want to take your shit, they can legally do it. Your vote doesn't help at all.
Would you see this different than theft?
Comment removed from /Economics - persolb - Created on 07/24/18 15:04:15 UTC - permalink
Ahh I see what you mean. I see you’ve turned a representative democracy into “stealing other people’s shit”
“Shit” costs money. Government provides services. If you don’t want to live in a state that provides government services there are a few available to move to.
Isn’t that a lot of the right-wing’s arguments? Don’t like how things are done: move.
There are checks and balances for a reason. Nobody’s coming for more than your fair share. You may disagree on what your fair share is, so I suggest voting. It’s never going to be 0, and above 0 isn’t stealing.
Comment removed from /Economics - Finally_Adult - Created on 07/24/18 15:07:35 UTC - permalink
This fucking administration...
Comment removed from /Economics - telltaleharte - Created on 07/24/18 15:10:12 UTC - permalink
The GOP can't afford to lose that voting bloc; naturally they'll get a bailout.
Costing the taxpayers twice!
Comment removed from /Economics - dispatch00 - Created on 07/24/18 15:13:38 UTC - permalink
You can't steal what is rightfully yours.
Comment removed from /Economics - MCVIXI - Created on 07/24/18 15:14:34 UTC - permalink
How come nobody and where is the money coming from to fix Trump's screw ups, but try to pay for poor children's lunch all of a sudden Republicans are all up in arms about fiscal responsibility
Comment removed from /Economics - jyz002 - Created on 07/24/18 15:16:12 UTC - permalink
☝️let me tell you folks 👐we are going to have the biggest most beautiful deficit 👈you know it, I know it. It’ll be 👌yuuuuge👌
Comment removed from /Economics - myweed1esbigger - Created on 07/24/18 15:18:51 UTC - permalink
Hey! Isn't this the that had access to personal computers their entire lives? Fucking shits can't even 1v1 not online 😶😶😶🤣
Comment removed from /Economics - graynymph7459 - Created on 07/24/18 15:20:17 UTC - permalink
This fucking entire country.....
Comment removed from /Economics - OptimalDouche - Created on 07/24/18 15:20:38 UTC - permalink
Investments are voluntary.
Comment removed from /Economics - AFreedomLover - Created on 07/24/18 15:20:55 UTC - permalink
Just bout some Maine lobster for under $5 per pound thanks to Chinese tariffs.
Nice work Trump! I love lobster and don't want those Chinese eating all mine.
Comment removed from /Economics - HuskyPupper - Created on 07/24/18 15:24:12 UTC - permalink
You haven’t been paying attention, have you?
Comment removed from /Economics - internal69audit - Created on 07/24/18 15:27:14 UTC - permalink
You’re Free to leave the United States of America at anytime you like
Comment removed from /Economics - Finally_Adult - Created on 07/24/18 15:27:31 UTC - permalink
Where!!??!!
Comment removed from /Economics - captainroyal - Created on 07/24/18 15:29:19 UTC - permalink
It is almost as if he routinely and effortlessly lies.
Comment removed from /Economics - ChocolateSunrise - Created on 07/24/18 15:29:23 UTC - permalink
Shouldn't we have the revenue from the tariffs to use for things like this?
Comment removed from /Economics - PigSlam - Created on 07/24/18 15:33:19 UTC - permalink
and how that is simply not what was intended by founding fathers/constitution. Tyranny of the minority is worse than tyranny of the majority...
Cue routine response that the nation was supposed to be a union of coequal, sovereign states, not a republic where we collectively choose our leaders. So in that model a rural state with 1% of the population of CA would be equal in power to CA. There is no way rural states are going to willingly give up the disproportionate power they have. They're going to take any effort to have their votes count the same as other citizens as them being disenfranchised.
Comment removed from /Economics - mhornberger - Created on 07/24/18 15:33:55 UTC - permalink
🤦‍♂️ k. That was dumb.
Comment removed from /Economics - AFreedomLover - Created on 07/24/18 15:36:31 UTC - permalink
Lol, sounds pretty voluntary to me.
Comment removed from /Economics - Finally_Adult - Created on 07/24/18 15:36:56 UTC - permalink
I just expect every "decision" he makes to have a purely political reason, he's not working for any Americans other than the ones who like him.
Comment removed from /Economics - Lukewarm_beans - Created on 07/24/18 15:37:06 UTC - permalink
Maine lobster has been cheap for years because of a glut caused by ocean warming which drove the lobster population north, right into the Maine coast. Science!
Comment removed from /Economics - NemWan - Created on 07/24/18 15:37:31 UTC - permalink
Get that logic outta here!
Comment removed from /Economics - dispatch00 - Created on 07/24/18 15:38:17 UTC - permalink
So today we’re pro socialism and welfare?
Comment removed from /Economics - HighOnGoofballs - Created on 07/24/18 15:38:17 UTC - permalink
Hey man, us American are sorry. Please don't be too spiteful, we don't like the guy either!
Comment removed from /Economics - Rugged_Refined - Created on 07/24/18 15:39:14 UTC - permalink
Hyperbole aside the Legislative system is designed to specifically give disproportionate power to states with smaller populations. Tyranny of the majority is a real concern when we think about political balance of power.
Comment removed from /Economics - June1994 - Created on 07/24/18 15:40:08 UTC - permalink
Market basket.
Can finally get some big ones too. Got a 2.5 lb lobster. Haven't been able to find those let alone buy them for some time now.
Comment removed from /Economics - HuskyPupper - Created on 07/24/18 15:42:12 UTC - permalink
While 5 dollar lobster sounds great and all, it's not really related to the topic.
Also proof, or it didn't happen..
Comment removed from /Economics - Rugged_Refined - Created on 07/24/18 15:42:29 UTC - permalink
Damn, only exist in the New England area. We only have $6, 4oz Florida lobster tails here at Kroger in the south east.
Comment removed from /Economics - captainroyal - Created on 07/24/18 15:44:00 UTC - permalink
https://www.shopmarketbasket.com/weekly-flyer?department=30
Comment removed from /Economics - HuskyPupper - Created on 07/24/18 15:45:55 UTC - permalink
Other industries aren't his core voters. It wouldn't make as much sense for Trump to give them free money.
Comment removed from /Economics - Katholikos - Created on 07/24/18 15:46:53 UTC - permalink
You know what's worse than tyranny of the majority? Tyranny of the minority.
Comment removed from /Economics - minno - Created on 07/24/18 15:49:43 UTC - permalink
We know
Comment removed from /Economics - Deofol7 - Created on 07/24/18 15:50:34 UTC - permalink
1: Promise farmers and coal miners that you are their president and will fight for them.
2: Start a trade war that directly damages the farmers and coal miners
3: Use tax dollars to subsidize your inability to make any meaningful policy to fulfill your promise to the farmers and coal miners.
4: Get millions of votes from farmers and coal miners.
This is the world we live in.
Comment removed from /Economics - palindrome_is_not - Created on 07/24/18 15:51:51 UTC - permalink
Sure, but the current issue has more to do with the parts the Constitution left unaddressed rather than vice versa. Also, a tyranny of the minority can be overcome or contained, tyranny of the majority is rather absolute.
Comment removed from /Economics - June1994 - Created on 07/24/18 15:53:13 UTC - permalink
I'm 35. My father was a laborer and I'm an engineer. When adjusting for inflation and factoring in his overtime vs me being salaried, he made the same amount of money 30 years ago that I do today.
Comment removed from /Economics - Red_bearrr - Created on 07/24/18 15:55:17 UTC - permalink
Hi 35, I'm dad!
Comment removed from /Economics - dadjokes_bot - Created on 07/24/18 15:55:18 UTC - permalink
nd how that is simply not what was intended by founding fathers/constitution.
What? That was the exact intention of the founding fathers, that even little states the rest of the country considers backwater would be able to have a say: that's literally the point of the electoral college.
Comment removed from /Economics - KinterVonHurin - Created on 07/24/18 15:55:45 UTC - permalink
Because they are full of shit.
Comment removed from /Economics - Tullay - Created on 07/24/18 15:57:20 UTC - permalink
It's not only that though, the Senate cuts down on the power of Gerrymandering. You can't cut up a state so that it's Senate representation is wildly unlike it's demographic. However the problem with that is then you get crazy things like North Dakota having the same representation as California in the Senate.
I think the real problem is the fact that Democracy is too much work for most people who live in the modern world. "Government of the People" requires The People to do the actual work of governing, and in our case they have totally abandoned their duties.
Comment removed from /Economics - changee_of_ways - Created on 07/24/18 16:00:16 UTC - permalink
I have a garden in my backyard, where do I sign up for hand outs?
Comment removed from /Economics - fogcity89 - Created on 07/24/18 16:00:48 UTC - permalink
You are equating having your vote count the same as mine as living under a tyranny. There is no system where rural states don't have disproportionate power that wouldn't count as a tyranny to them. Rural states aren't worried about balance of power, rather they're worried about preserving their disproportionate power.
"Balance" for them is not between the citizens of our country (that they count as 'tyranny') but between states, as if they are sovereign and independent coequal entities. A model under which a state with 1% the population of CA would still have equal sway over the laws of the nation. You didn't rebut anything I said, merely reiterate it.
Comment removed from /Economics - mhornberger - Created on 07/24/18 16:01:45 UTC - permalink
> You are equating having your vote count the same as mine as living under a tyranny. There is no system where rural states don't have disproportionate power that wouldn't count as a tyranny to them. Rural states aren't worried about balance of power, rather they're worried about preserving their disproportionate power.
Rural states have disproportionate power by design. Which is a good thing. For a long time this country was under the tyranny of the majority, so the concern over minority power is very real. The issue here isn't that minority groups shouldn't be have disproportionate political power, but rather that the majority cannot effectively wield theirs. This is due to technology and lack of campaign finance regulations, not because rural states have too much power.
> "Balance" for them is not between the citizens of our country (that they count as 'tyranny') but between states, as if they are sovereign and independent coequal entities. A model under which a state with 1% the population of CA would still have equal sway over the laws of the nation. You didn't rebut anything I said, merely reiterate it.
I did rebut what you said, you're insinuating that rural states having disproportionate power is a bad thing. It's not, they should fight to keep the current design of the government. That's necessary to prevent large and powerful states from unilaterally dictating the course of the country. That's something that's been in place by design since the inception of this country. You're attributing the current political climate to the wrong cause.
Comment removed from /Economics - June1994 - Created on 07/24/18 16:10:03 UTC - permalink
How old are you?
Comment removed from /Economics - dronepore - Created on 07/24/18 16:10:50 UTC - permalink
Except the minority has already fought and had the original system changed to preserve their power.
http://www.pewresearch.org/fact-tank/2018/05/31/u-s-population-keeps-growing-but-house-of-representatives-is-same-size-as-in-taft-era/
Comment removed from /Economics - squashinmonks - Created on 07/24/18 16:21:07 UTC - permalink
The most significant example of the tyranny of the minority is slavery, which took over two centuries to dismantle and still affects us to this day.
The article you linked has less to do with what we are currently discussing and more to do with the concentration of power in the hands of a smaller powerful group of people. That issue applies to all states equally, be they rural or the Californias and Texases of the Union.
Comment removed from /Economics - June1994 - Created on 07/24/18 16:26:31 UTC - permalink
I think the key here is that the constitution was written with the 13 colonies in mind. I don't think the founding fathers had any idea that we would end up with 50 states spanning both oceans, so I think we have a far greater disparity than they ever imagined we would.
Comment removed from /Economics - Wingzero - Created on 07/24/18 16:26:49 UTC - permalink
This is so the farmers that voted for Trump’s get tough policy get bailed out of their decision with your tax money.
Because FU.
Comment removed from /Economics - RestrictedAccount - Created on 07/24/18 16:27:33 UTC - permalink
Can't wait for Republicans to scream about Democrats "buying votes" in the 2018 Mid-terms.
Comment removed from /Economics - HTownian25 - Created on 07/24/18 16:32:26 UTC - permalink
I'm much less concerned with what the Founding Fathers than with whether something is practical or not. The Founding Fathers designed an excellent system for their time and the philosophy guiding their design was very forward thinking. I don't think that rural states are in the wrong for trying to push their interests nor do I think that the manner in which they do so is insidious. The same tools after all, are available to all states. I think the far bigger issues are the things that the Founders didn't address. I don't think they realized just how much special interests could affect politics. The political class was fairly small at the time and the political system of the first four Presidents pales in complexity when compared to the late 20th and 21st century.
I think that there are far too few rules concerning how we elect our leaders and far too few rules concerning money in politics.
Comment removed from /Economics - June1994 - Created on 07/24/18 16:33:31 UTC - permalink
Haha and the Trump 2nd term presidency is secured
Comment removed from /Economics - papeold - Created on 07/24/18 16:34:19 UTC - permalink
No, that was the point of the Senate.
The impact slavery had on the electoral college is undeniable -- the south would not accept one-person, one-vote (and obviously wouldn't let blacks vote), and hence the vile 3/5ths compromise and the need for a system other than popular vote for the presidency.
And likewise gerrymandering of the House has become a perversion. Layering the impact on the judicial branch by virtue of the appointment process, and we have minority of population being able to control all the branches of government... that is not what was intended.
Pick up the July 14 edition of the Economist if you can -- link to most the relevant article below if have subscription or otherwise able to access.
https://www.economist.com/briefing/2018/07/12/americas-electoral-system-gives-the-republicans-advantages-over-democrats
Comment removed from /Economics - ChornWork2 - Created on 07/24/18 16:36:09 UTC - permalink
Right. “Balance” to them is that 10 square miles of mostly trees, vegetation, and crops should have more say than 10 square miles where a few million actual people reside.
Comment removed from /Economics - harbison215 - Created on 07/24/18 16:36:25 UTC - permalink
Honestly, it’s because Democrats have a hard time describing their position.
If they pick up the argument that we can’t pay for these things, Republicans will agree and ask to slash government spending across the board. That hurts Democrats politically (weakening public sector union workforce) and electorally (constituents everywhere have services reduced). This is a downward cycle as the country begins to lose faith in government and the idea that “government is the problem” spreads leading to more cuts in the future.
Democrats need to get aggressive and actually play the game by “holding possession.” This means sayin we’d be happy to provide subsidies for hurting farmers, but first you have to pay for X. That could be healthcare, education, infrastructure, or whatever.
Comment removed from /Economics - TonyzTone - Created on 07/24/18 16:36:52 UTC - permalink
submitted by throwittomebro to reconomics_mod_audit [link] [comments]

Of Wolves and Weasels - Day 49 - Such Memories

Hey all! GoodShibe here!
So, yesterday I started putting this thing together and WOW did you come out in droves to help! Thank you so much for sharing your ideas and memories. And thank you kindly to the mods for stickying that post!
In one day we reached 60% completion on a list of top 100 Memories and Achievements of Dogecoin! That's amazing! So many fantastic memories and accomplishments!
Which leads me to share some developments.
The title of this endeavor is now - unless someone comes up with something better:
Such Memories: The First 100 Days of Dogecoin
I'm going to be putting this together as a 100-ish paged commemorative book - for free in PDF, probably with some cost as a fancy, printed book (Sold as close to 'at cost' as I can get it -- slipstream- has recommended selling it at a small profit, with profits going toward charities or Dogecoin Foundation for charities, etc - thoughts?).
Artists, if you've got Dogecoin-themed artwork you want to see in this, please, put forward some links to hi-res CMYK copies and I'll do my best to fit it in.
Also! Let's find the funniest, best Dogecoin-related memes that we have put together so far and include them as well! :D)
We're also going to need a cover.
Any artists out there care to try their hand at designing a cover for this?
We'll put it to the community to vote for the one they like the most, and we'll include the others in the book somewhere :D) If you're an artist who submits to the project, you'll get full credit and promotion for your site inside the book (probably in a credits section at the back).
I also want to hear from the community - think up some interesting stories, maybe what got you into Dogecoin. What your fondest memories of Dogecoin are. These first 100 days have been an exciting rollercoaster of adventure... let's make that we never forget all the fun memories we've had together. If you have personal, fun pictures you'd like to share, fun, personal stories you want to see get into the book, then start working on them now, put them into the comments, keep them on hand!.
Here's the list that I have right now - in no particular order:
MOMENTS/ACHIEVEMENTS:
  1. ummjackson's first 'joke' on Twitter about Dogecoin being 'the next big thing'
  2. The original bitcointalk Dogecoin forum page
  3. Dogewallet Hacked
  4. The first Dogecoin paperwallet design
  5. Save Dogemas is put together by the community, to help out victims of the hack. (News articles?)
  6. 15 Million doge raised by the community to save dogemas
  7. SilentShibe's first tip (not sure when that was)
  8. Ophrahshibe's mass-tippings
  9. The forming of the Dogecoin Foundation
  10. Vault of Satoshi adds the first DOGE->USD/CAD exchange
  11. Dogesled - Helping to fund the Jamaican Bobsled team - NPR article
  12. Shibes actually getting to meet with the Jamaican Bobsled team after funding! (pics?)
  13. Olympics Funding: Shibes raise funds to send Indian Lugers to Sochi in a matter of hours
  14. Strange Donuts - The very first brick-and-mortar food purchase with DOGE!
  15. NYC Dogeparty
  16. Doge 4 kids
  17. Doge is now accepted at experiment.com
  18. DOGE bought pizza for the homeless
  19. DOGE's first fork. Scary! slipstream- has found the exact time and date of our first fork: 2014-01-05 00:09:17 (UTC). That's Day 28
  20. The first time a /dogecoin post reached the top of /all (Thanks 42points for the link!)
  21. The first News article to cover Dogecoin - (http://wwwh.eavy.com/tech/2013/12/dogecoin-what-is-shibe-cryptocurrenc/) on Heavy.com dated Dec 9th, 2013, but not sure if it counts as 'News'. Thoughts?|
  22. The first-ever Of Wolves and Weasels post
  23. the creation of Dogec0in.com - a popular Dogecoin waterbowl/chat room
  24. the Christmas Day Dust Fix
  25. Kabosu's owner started accepting dogecoin for charity
  26. Reddit freaked out because they didn't realize it was an online wallet and thought that tiny withdrawals were indicative of hacking
  27. The first Halvening
  28. Our massive jump up from 25 Satoshis
  29. Dogecoin mentioned in the Australian senate (official Transcript here!)
  30. Payment systems for online shops: Moolah.ch, Coinpayments.net, Dogeapi.com
  31. PoS systems for brick and mortar: dogePoS, moolah (still in beta)
  32. Markets to sell product in dogecoin: shibemart.com, muchmarket.com
  33. Classifieds: suchlist.com
  34. Micro jobs network: dogerr.com
  35. The birth of Dogetipbot v1 - Went Live on 12/15/2013 - First ever dogetip!
  36. Rise of the tipbots: Youtube, Facebook, Twitter, Imgur, etc.
  37. Fork #2
  38. The "inflationary" characteristic of Dogecoin announcement from devs
  39. DogeTEL. The first cryptocurrency phone service!
  40. Fido.pw - sending DOGE via SMS anywhere in the world!
  41. Stuffcoins.com - created by stuffcoins an eBay for Dogecoins
  42. alwaysgeeky, Indie dev sells his game VOX for DOGE.
  43. triverske and friends over at /dogecrafters teach our DOGEs how to play Minecraft! with us - and share our DOGEs on any Minecraft Server
  44. vBulletin Forums Integration! daveaite has created a free plugin for vBulletin, allowing users to directly tip one another in Dogecoin!
  45. 'Universal' DOGE Tippers: DogeTip.co, built by woowdoge and Altcend, created by altcy. Send (password protected) tips - both the sender and the receiver have to sign up.
  46. DogeBucket.com is a Crowd Funding/Crowd Tipping website created by Goldiepurps and their team!
  47. Doge Lodge in Tehran, Iran - created by lincoln_lava - is a homestay if you happen to be in the area (or want to visit) for 10K DOGE per night.
  48. ÐTunes, created by hjras is a great place to sell and buy independent music for Dogecoins. Very cool!
  49. Stat-checkers: DogePulse, created by shibeous and Dogedump, created by cryptogaz
  50. Armstrong Steel - A Steel Building OEM Manufacturer is now accepting Dogecoin! Thanks to SekcRokStallion for their efforts to bring their workplace on board! That's most-definitely a first!
  51. Corinthian Transportation is now allowing you to pay for Limo services with Dogecoin!
  52. Buying homemade bbq/marinade sauce with DOGE - dogesauce.com
  53. @Adult's record-setting DOGE-tip on Twitter
  54. (http://www.reddit.com/dogecoin/comments/1yfnrx/looks_like_kraken_got_doge/) that the exchange [Kraken.com](http://www.kraken.com] is now accepting Dogecoin!
  55. The UniverseProject will be using Dogecoin as the main currency for their game VoidSpace.
  56. The "SnowDoge" Competition! Check it out HERE
  57. MultiDoge - First altcoin light wallet.
  58. Treats.io - The first place to buy giftcards with DOGE
  59. Buygold.io - The first place to buy Reddit Gold with DOGE
Added today:
TOTAL: 100/100
Also: I was thinking we might have a pour-one-out for all the Orphans - a page dedicated to all the blocks we lost along the way... thoughts?
What have I missed?! Let me know in the comments!
It's 8:29AM EST and we're at 53.95% of DOGEs found. Our Global Hashrate is spiking from ~61 to ~98 Gigahashes per second and our Difficulty is down slightly from ~1024 to ~1014.
Lots of fantastic things in store, let's keep this list growing!
As always, I appreciate your support!
GoodShibe
TL;DR: 100/100!!!
submitted by GoodShibe to dogecoin [link] [comments]

with crypto in congress thought i should run? what do you all think? enough to get in?

First, I am a noob, but am hoping to keep this straight forward. I'm a very middle of the road vanilla person who isn't really interested in much but am very passionate about bitcoin and crypto currency. With the US Senate hearings this week I thought we need more pro-crypto folks up in Washington. It looks like the seat for congress is open where I live and I'm considering running. However, I don't really have any other desire for any other platform than to advance crypto currency into the main stream. My question for the community is, is this enough? I"m not a programmer or a developer, I sold dell computers in 2010 when i first heard about bitcoin from an intern and told him i'd rather buy WOW gold as I was eating 1 pop tart packet a day to have money to pay bills lol. Fast forward to 2018 I've watched every video from the Princeton Lecture Series on Crypto, read Andreas's books, convineced friends and family to buy eth and btc, and even started alt trading. My initial thoughts are that as I live in a more rural area that has seen towns rise and fall with both the industrial revolution and railroads that I could utilize this as the main hook for "outsiders" who don't yet get the space. Adopting a similar platform that northern Nevada and Canada have taken to attract miners and overall open the community to the landscape of Crypto. I could utilize this to reduce regulations and increase incentives in my district to then offer the hope that with this, jobs and innovation would ideally result in the future. However I'm just reaching out to the community to see if this platform is really enough and if it is what else I need to brush up on to actually do this and win. Here's looking at ya'll....let me know.
submitted by cryptocongress to BitcoinPA [link] [comments]

Hello, I summarized what I could find out about Bitcoin for my convenience, thought you might find it useful.

First introduced in 2008, Bitcoin is the first example of a peer-to-peer cryptographic currency.
In Bitcoin;
• Computers solve randomly created equations, whose difficulty automatically adjusts so that they are solved to the tune of one every ten minutes, regardless of processing power.
• Difficulty of these equations is set to adjust every 2016 blocks, or two weeks. So after significant advances in mining technology (Such as Asic miners) up to two weeks of Bitcoins might be mined in a significantly shorter period of time.
• Through solving these equations “Blocks” are created, which encode all new transactions, and impart a set number of Bitcoins to the solver.
• The number of Bitcoins rewarded per block is set to halve every 210,000 blocks or approximately every four years.
• The current Block reward of Bitcoins is 25 Bitcoins, the reward has been halved once so far. The next halving is set to occur in late 2016.
• This reward structure means that assuming the value of Bitcoins continues to rise, while the total number of new Bitcoins minted yearly may continue to fall, their value might not.
• The total number of Bitcoins is capped at 21 million units, the last of which is expected to be minted in the year 2140 AD.
Regarding Bitcoin;
• Bitcoins are sub-divisible up to the eighth decimal place, although this limit may easily be removed if the value of Bitcoins rises to the point of requiring it.
• This smallest unit (0.00000001 Bitcoins) is currently called a Satoshi, and should cover most needs until valuations of more than a million USD, at which point a Satoshi would be worth 1 us penny.
• The number of possible Bitcoin addresses is 2160 as each address is a 160 byte hash of a public key
Benefits of Bitcoins;
• Bitcoin allows near instant transactions with no required cost, although speeds can be expedited through a reward of approximately 1-5 US cents (0.0001-0.0005 BTC currently) attached to the transaction for the first miner who verifies it.
• This is quite useful for merchants as methods of payment such as credit cards or paypal generally have high fees of up to 3%.
• Wallets can be generated at will, without need of any form of credentials or verification.
• Transactions are unblockable so long as the sending party has access to an internet connection.
• Bitcoin Funds do not exist in any specific country (unlike regular money which even when in digital form must exist in some country) but exists on the internet, and hence essentially in all countries at once.
• Lack of inflation, Bitcoin is designed to prevent any third party from being able to artificially increase the supply of Bitcoins, although minor predetermined inflation will occur through mining until approximately the year 2140.
• Irreversibility of transactions, A Bitcoin transaction confirmed once is essentially irreversible from the sender’s side, reversing transactions before the first confirmation, meanwhile, is possible, but highly difficult, and only useable with goods which are dispatched instantly such as internet downloads.
• Ease of movement, Bitcoin is one of the first means of Capital which is essentially perfectly mobile, as owners of Bitcoin can easily transfer funds(in Bitcoin) over any regional/political boundaries.
History of Bitcoins;
Intro; Bitcoin is currently one of the world’s most volatile currencies, and although the average price of a Bitcoin has been rising continuously when looked at from a yearly point of view, it has several times crashed and lost up to 68 percent of its value over a relatively short period of time.
• This is commonly attributed to Bitcoins similarity to both economic bubbles in the seventeenth century, and the advent of the tcp/ip(internet) protocol in the more recent past.
• After each bubble the total viability of Bitcoin as a currency grew as more people gained Bitcoins, became aware of Bitcoins, as more businesses started accepting Bitcoins, and as more services grew around Bitcoins.
Crashes;
• The first crash in Bitcoins value was in June2011 when Bitcoins price fell from a high of 32 USD to a low of 2 USD.
• The second crash occurred approximately seven months later in January 2012 when Bitcoins price fell from a high of 7.20 USD to a low of 4.6 USD , eventually settling at around 6.23 USD
• The third crash occurred another seven months later in August 2012, when Bitcoins price fell from a high of 15.25 USD to a low of 7.5 USD.
• Two mini crashes occurred approximately another seven months later in March 2013, when Bitcoins price twice fell from a high of 49 USD to a low of around 34 USD, Bitcoin ended the month on a high note however at above 90 USD.
• The fourth crash occurred a month after these two mini-crashes in April 2013 when Bitcoins Price fell from a high of 266 USD to a low of approximately 54 USD, before settling at a price of around 100 USD around which value it remained until early October 2013
• In early October 2013 the price of Bitcoin once again began to rise, reaching a six month high of approximately 200 USD by the end of the month. Rises in Price continued in November, where the news concerning Bitcoins senate hearing briefly propelled Bitcoins to values of over 1000 usd, before a price correction to approximately 500 USD from where it has since been rising to a current value of approximately 700 USD.
Limits/Criticisms of Bitcoin;
  1. • Bitcoin currently has a transaction limit of 7 per second, due a 1mb per block restriction on Block size, created to prevent block chain bloat. This is quite low compared to Visa’s average of 2000 transactions per second. Bitcoin is currently, however, only averaging one transaction per second, and it is expected that the limit will be removed long before the average number of Bitcoin transactions reaches this point.
  2. • Bitcoins relatively unstable value renders it unsuitable for merchants or as a store of value.
• Supporters of Bitcoin claim that this this relative instability of value only exists as Bitcoin is currently in its introductory stage, and that these fluctuations in value will reach usual levels when Bitcoin approaches it’s true valuation.(estimates of this range from 10 thousand USD per Bitcoin to 1 Million USD per Bitcoin)
• Supporters also point out that services such as Bitpay allow merchants accept Bitcoin while distancing themselves from its risks, as through these services they link the items price in Bitcoins to the conversion rate between Bitcoin and a chosen currency, and through this get paid in their chosen currency, despite accepting Bitcoin.
  1. • Bitcoins once lost are irretrievable. If a Bitcoin key is lost, or the Bitcoins are sent to an inactive or non-existent address there is no recourse by which to re-obtain those Bitcoins.
  2. • Ease of duplicating the Bitcoin code. Although it is impossible to generate fake Bitcoins, critics point out that there is nothing to stop the generation of new and improved versions of Bitcoin, as has already occurred through coins such as Namecoin, or Peercoin.
• Supporters point out several issues with this
• The First school of thought says that Bitcoin has several advantages over altcoins, such as having the greatest amount of services and developers, which form a barrier to success for other crypto currencies. They also point out that Bitcoins great sub-divisibility renders any need for alternate crypto currencies moot, and that if a notable improvement does come out, bitcoin can just build it into their own code.(see colored coins/mastercoin/zerocoin)
• The second school of thought claims that although Alternate coins debuted early enough with significant differences from Bitcoin(see Peercoin, Namecoin, Zerocoin, Primecoin) might manage to capture a portion of the crypto coin market, Bitcoins will remain the most prominent Crypto currency for the foreseeable future.
  1. • Governments/Big banks will not allow Bitcoin to succeed.
• Supporters argue against this point on several fronts claiming;
• Firstly that although some governments might decide to outlaw Bitcoin, or some Big businesses might try to stop it, Crypto currency is a new technology whose time has come and the most such actions will be able to do is to stall/delay the success of Bitcoin, and in the process lose any business generated by Bitcoin.
• Secondly that it would be very difficult to legally stop Bitcoin, as laws outlawing Bitcoin leave several avenues open for lawsuits, and although it might be possible to hinder Bitcoin through inefficient legislation/red tape this would be against a countries best interests, due to potential growth offered by upcoming Bitcoin industries.
edit; some formatting issues occured in the last line, the numbers should go 1 2 3 4 5 6... rather than 1 2 1 2 1 2
The dots and explanation only apply the one point(number) above them not both.
submitted by Bagog- to Bitcoin [link] [comments]

Senator hearing on how to tax Bitcoin. Want to hear your thoughts, how can you do it?

So one of my relatives is an tax attorney for the US Senate and there is a relatively small Senate hearing coming up regarding how to ensure people pay their taxes when using Bitcoins. So I want to hear your thoughts to make some recommendation to him, how can you do it?
My thoughts: geolocation on both the sender and receiver's side and require merchants to register their wallet addresses? Maybe even geolocation for miners or require them to register their machines and locations in order to make geolocation of transactions possible? How much of a problem is Tor? I imagine that you won't have both sender and receiver using it.
The reason for this geolocation is you could implement something along the lines of the FairTax built right into the coin, where every transaction has a small percentage taken by the government?
You could still allow transactions to remain anonymous via some kind of mixing, but the government would get it's cut.
And I know making taxes easy is unpopular and crypto currencies have so much to offer but you know that if we don't find a solution, the government could shut us down. Senator Joe Manchin is already doing what he can in that regard.
submitted by mczarnek to Bitcoin [link] [comments]

2015 A year of Destruction, Growth or Moon. Let's see how everyone's predictions from the beginning of the year panned out!

Well, it's been a tumultuous year. But let us reflect and find out who was right, who was wrong, and who is poor. Since I'm banned from the old sub I can't post there so I'm doing it here. The old thread https://np.reddit.com/Bitcoin/comments/2qz6vb/2015_a_year_of_destruction_growth_or_the_moon/ contained some pretty good predictions. I myself made some pretty thorough, and specific predictions to add some spice, I offer a copy here for everyone to critique, so let's see how I went...
Here's my predictions post from the beginning of the year https://np.reddit.com/Bitcoin/comments/2qz6vb/2015_a_year_of_destruction_growth_or_the_moon/cnb1h28:
Well, my 2014 prediction https://np.reddit.com/Bitcoin/comments/1ty17h/2014_predictions/ced5iry was pretty obvious and a bit boring so I'll try to be a little more creative this time around. I'm going to spice it up with several predictions just to make it interesting. Keep in mind this is purely speculative prediction.
Controversy Front:
Nailed it.
Kinda nailed it? Banks certainly are on the doorstep of doing stuff like this, Ukraine etc. and "blockchain" technology certainly is big right now. I may have been a little early though.
No dice, seems that these little piggy banks are not ripe enough for acquisition just yet....
Legal Front:
Sorry guys, dropped the ball on this one. My prediction is bad, and I should feel bad. Though the sliver lining is that countries and states are definitely building legal frameworks to accommodate Bitcoin, and other cryptos so it wasn't a totally bad prediction, just the bitlicense bit.
sigh... On the upside GBTC is going swimmingly and at least the Winklevii have their Gemini exchange up and going. God knows when their etf is ever going to fly though.
Called it.
...The ATO will start pursuing people that conduct business in Bitcoin without declaring tax as tax evaders and will waste money and resources pursuing individuals/businesses that don't disclose Bitcoin commerce or retain the double GST for Bitcoin related sales. Ironically the cause of this this will be the result of their own idiotic rulings in the previous year. The ATO will be left red faced, and some Australian politicians will begin to craft legislation to recategorise Bitcoin as a currency, as it should have been originally.
Ok that didn't quite happen AFAIK there's been no crackdown, but I do remember that senate hearings or meetings were in place to legislate the legality of Bitcoin as a currency. I guess time will tell.
The Usability Front:
Still not there, but the number of other hardware wallets has definitely increased substantially, with even more on the horizon so here's hoping that next year we'll see ubiquitous and universal compatibility among more hardware wallets.
The Core software Front:
If only, sidechains was not the star this year, and we all know why too...
FYI, there was absolutely ZERO noise about the block increase when I made this prediction, so I'm going to say that I nailed the specifics, but I obviously was NOT prepared for monumental clusterfuck shitfest that Blockstream, Core and their little cliquey circle was going to unleash onto the general community. Nor did I anticipate how the miners would reel in horror at what should have been fairly straightforward upgrade that even now, seems quite rational and acceptable. It's obvious now that there was a huge amount of hidden resentment and resistance to any block increase by many devs and other members in the community, so in retrospect the years of stalling makes far more sense now. At the very least I'm just glad their true colors are out in the open for everyone to see, rather than hidden behind excuses, lies, and half truths.
Other likely developments:
Another missed opportunity. At least OB is still going strong and hasn't fizzled like some other projects. Keep up the great work Open Bazaar devs!
Nailed it. :) For people that don't agree, all I have to say is this, "blockchain technology" ;).
I guess I far too optimistic :), looks like these dinosaurs still have some fight in them left. Though Europe and the Greek crisis did almost happen, so I only just narrowly missed calling a huge financial catastrophe this year. Doesn't mean it isn't going to happen, just not this year I guess.
And finally, price:
Goddamnit. Oh well, I guess it's understandable now that the blocksize issue has been completely blown out of proportion and turned the entire ecosystem on it's head.
All in all I think I did pretty damn well considering. I reckon if the move to increase the blocksize had gone according to BIP101, we would have seen a far more positive end of year though. The controversy has almost certainly taken the wind out of the innovation sails so to speak as it's clear in my predictions that I expected things to have moved along far more than it has.
submitted by ferretinjapan to btc [link] [comments]

Senate Hearing on Facebook's Proposed Cryptocurrency ... U.S. Senate Confirmation Hearings of Hon. Roger J. Miner, Circuit Judge, U.S. Court of Appeals Senate Crypto hearing today: What happened? Canadian Senate Hearing on Bitcoin #159 No Bitcoin = No Blockchain + The Entire Senate ...

Bitcoin hit new highs on Monday, as the Senate held its first hearing on the controversial virtual currency. The currency topped $700 on the MT Gox exchange, where it is traded, as the Senate ... Bitcoin; US Senate Committee Approves the Blockchain Promotion Act. By. admin - July 12, 2019. 123. 0. Facebook. Twitter. Google+. Pinterest. WhatsApp. The United States Senate committee of commerce, science and transportation approved the Blockchain Promotion Act on Tuesday, tech news outlet CNET reports on July 11. The bill, published by the outlet, moves the U.S. closer to a blockchain ... After the US Senate Pros and Cons on Digital Money — What Do We Do With It? The COVID-19 pandemic has certainly accelerated the digitalization of economies across the globe, opening up discussions on the future of digital financial services and whether our economy should advocate for the financial inclusion of Bitcoin ( BTC ) and other digital assets. The value of the virtual currency Bitcoin soared after a US Senate committee hearing where virtual currencies were described as "legitimate financial services". The US Senate has recently listened to ‘Dr. Doom’ Nouriel Roubini, who’s a well-known cryptocurrency skeptic, and to Peter Van Valkenburgh, director of research at CoinCenter and well-known cryptocurrency proponent. Dr. Doom Nouriel Roubini kicked off the hearing.

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Senate Hearing on Facebook's Proposed Cryptocurrency ...

Andreas M. Antonopoulos educates Senate of Canada about Bitcoin (Oct 8, ENG) - Duration: 1:52:47. ... Senate Hearing on Digital Currencies - Bitcoin - November 18, 2013 - Round 1, Part 1 ... Senate Hearing on Facebook's Proposed Cryptocurrency ... What is Bitcoin Mining? (In Plain English) - Duration: 16:01. 99Bitcoins 515,011 views. 16:01. US Govt tells Facebook: "Libra must stop ... The Bitcoin Group #174 - Senate Hearing - Dow Drops - Coinbase Segwit - Bitcoin meets InfoWars World Crypto Network. Loading... Unsubscribe from World Crypto Network? Cancel Unsubscribe. Working ... In this video, I start talking about how the US senate is having hearings on Digital Currencies. I personally believe this will help push Bitcoin's price along further. What is BitCoin: http ... The Senate Banking Committee, Securities and Exchange Commission Chairman Jay Clayton and Commodity Futures Trading Commission Chairman Christopher Giancarlo testify on capitol hill. The Original ...

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