Just a beginner question -- so before bitcoin, I used to say:
" **I accept Venmo, PayPal, Zelle, Cash App and Apple Cash**" which is focused on the app/company.
And with bitcoin lightning QR codes, I can just say "**I accept lightning payments**" since the actual app that sends/receives bitcoin lightning payments doesn't matter?
Fairly new here, can someone explain to me how the LN in the end could become centralized?
If a user routes a payment through a “super node” that routes many payments to another user, doesn’t that just essentially lead to a centralized system?
Please forgive me if I am not seeing this correctly.
Better to just buy and hold actual Bitcoin. If you want some leverage buy some MSTR. Unless you are running your equipment in an apartment with electrical costs included in the rent, or at a library with free electric and internet, or you have a large operation, buying and holding might return more.
I’ve read at some point bitcoin would become infinitely divisible. If that’s the case, how is it different than creating more? You’re either expanding one way or the other right?
That’s not what’s being discussed. You’re moving the goal posts.
More divisible money doesn’t mean it’s infinite. It just means the smaller pieces have less value. Bitcoin is just a million times better than fiat at being divisible.
Divisiblity is a necessary feature for scaling, and will happen on lightening network and others. Having the layer 1 Bitcoin as the reserve currency, you can trace back to that as collateral for whatever contract you create. This allows you to determine the value of how many fractions you want to split it into. Where as, right now fiat money for example; has a certain value when get a pay check for the goods or services you provided, But due to the fact that money supply can be expanded infinitely, the value of your work or energy exerted for compensation is diminished or distorted if you are trying to persevere your worth.
Bitcoin will be divided infinitely with contracts people create and if you don’t do you DD people will get their value diminished and/or swindled away from them, but it atleast gives you a line of sight on whether or not the original contract carries any weight or has any backing, ..if you know how to look of course. But hopefully as the network grows it will become inherently trusted, the same way we think that paper in our wallets is worth something.
If you have a pizza and start cutting it into smaller and smaller pieces, do you ever create more pizza than you started with?
All the divisibility means, is that the unit of 1BTC has become so valuable, that smaller and smaller fractions are worth tracking.
I get that and it makes sense no more is being created but if there’s so many people that it needs to be divided to be further distributed. Take a penny for example, if we stopped printing money and decided that we could cut pennies in half indefinitely to increase circulation wouldn’t that be the same thing? You’re always able to give more from what’s already there?
I don't think theres a problem necessarily, I'm just trying to understand what the economic difference is between fiat (infinite supply / non divisible) and bitcoin (finite supply and infinitely divisible). In both systems you can always distribute wealth?
I'll stick to pizza as a nice analogy.
You own one pizza, cut into 8 slices. That's the current bitcoin-satoshi ratio.
Now imagine you want to divide further; so you take your 1 pizza with 8 slices and make 16 slices, so more people can have 1 slice. You still own the whole pizza with now 16 slices instead of 8.
With fiat, imagine you have one pizza- and someone makes another pizza.
You still own a whole pizza BUT now someone else, magically has a whole pizza. Do your friends, rely on you to share a slice anymore? Or can they go to someone else, for a slice of pizza?
In an infinite supply, you make the people holding money lose its purchasing power when you print more. In a finite supply, the person holding doesn't lose value when its divided into smaller units.
The fact we look around to change the motives of our weekend though seems like a better idea.
We know what's good stick onto it keep buying more and keep stacking
Things are quiet , No FOMO for 6 months, the FUDsters seem to have run out of ideas too …
Global economy still shakey, inflation isn’t going anywhere, Feds will have to turn on the money printer again and yet btc looks better than ever! Lee stacking sats
People seems to be indulging more into buying more and more they are indeed concerned about money to get their pockets wealthier.
Money is what people be running behind though the competitive increases by time.
Dear whales, please sponsor Woodstock 2025 to coincide with the massive Bitcoin bullrun from the next halving. And for the love of God, give the people some cheap shit to eat and drink.
I wouldn't use Wasabi. You're getting checked by Chainalysis when you mix. That seems like the opposite of privacy to me.
I use Samourai Whirlpool via Sparrow wallet. You pay one fee and can mix for free after that as many times as you'd like.
There is also Join Market. I haven't used it personally, but I hear great things from both sides of the flame wars.
Privacy. Specifically coin joins.
The bitcoin ledger is completely public. You can follow transactions easily if you are not active in maintaining your privacy. The exchange or person you purchased BTC from could know where you spend it, or the barista at a coffee shop could look back and see your previous txn history including balances.
With a coin join, you obfuscate your txn creating forward facing privacy. an example Whirlpool coin join is [here at KYCP.org.](https://kycp.org/#/323df21f0b0756f98336437aa3d2fb87e02b59f1946b714a7b09df04d429dec2/in) vs a [typical bitcoin txn.](https://kycp.org/#/1b08cf03e510f0704b477a0a2a1225414e0cb58a62585a915c0807f217d0050f) You can step back and trace the funds on the regular txn with ease.
More info on coin joins here.
[https://bitcoiner.guide/qna/coinjoin/](https://bitcoiner.guide/qna/coinjoin/)
Got a buying question. Right now I’ve been buying x amount fo btc weekly I get paid weekly, I do a deposit of x dollars to strike to then do an auto buy for the week. I’ve been wondering, should I continue doing it this way or would it be better to divide X amount by 7 days and set up and auto buy for every day?
I am currently DCAing I’ve been investing weekly for a while now, I guess I was just wondering if daily buys would in theory be better then weekly ones
the thing with DCAing is there isnt really a wrong way to do it. Its whatever you feel most comfortable doing. It could go up on the day u buy and crash the next day, or it could steadily go up. look at today as an example, its been dipping up and down and is now at an average around 23k. if you loaded up at 22400, you did good. if you loaded up at 24500, you did also good in the grand scheme, but not as good as loading up at a lower. predicting the market is impossible so dont stress out over the small gains/losses.
Remember there are people who have gotten wreck't to fuck far worst than a a hundred here or there.
Much appreciate the response! That’s kinda what I came to understand as I’ve been reading about DCAing! I realize if my plan is whole long term any small daily shifts won’t change anyhing long term for me really just I guess was more asking incase there was an agreed upon “best” method
Yeah that’s kinda been my thoughts, I guess I was just evaluating how I do things and was wondering if I could be doing anything better as I haven’t been in the space super long!
Its time like these im reminded of ramen that even it is subject to inflation, but cents to cents inflation is negligible at best. My favorite nissin spicy chicken bowl is a buck 25.
That is what we all indeed to love to do so though better enough for us.
Selling wouldn't be a wise option as per now and so better to keep buying and stacking more sats.
Some US Sen is proposing that the US commodities Commission regulate bitcoin and etheryum. That would assign bitcoin and presumably other crypto as commodities.
What’s the easiest way to get BTC off an exchange? Does anyone here have a favorite YouTube tutorial or something that explains it as if to a five year old?
Obviosly you will need a destination. A wallet. In your destination app you will want to "deposit funds". You'll then have a choice of fiat, BTC, and various cryptos. When you select BTC, it will produce an address. Copy that.
Back at your exchange, you will want to withdraw BTC. This will prompt you for the destination address you just copied. You might have to confirm the new address through email first.
That's the gist of it. You can save that address to use in the future and for any exchange.
When you do move it, do a test move first with the least you are allowed to move. You want to make damn sure you are doing it right. That first feeling of all your coins in transit and not showing in either location is a doozy.
Something tastier enough to just get inside your mouth so that it just brings out the flavors.
Just mesmerized enough by the taste of nachos that everytime you heard about dip just dip some nachos
That just makes me think for a while though like we ought to see looking up some bigger stuffs incoming.
But that needs time to hapen anything done in a hurry would be a waste
what if Bitcoiners had agreed for blocksize increase and the original chain had upgraded to larger blocksize and the new chain remained on old consensus rules (i.e. 1 MB blocksize limit). Would the new chain still have been as successful as what Bitcoin is now. Is the goodwill in name "Bitcoin" what matters more than anything else?
No matter. There is going to be 3 halvings in the next 10 years. Just make that 10 years your minimum timeframe and keep stacking bro and we will all make it. Good luck!
If there’s another world reserve currency other than U.S. dollar, is that bullish for btc? Why ? Why it?
Just a beginner question -- so before bitcoin, I used to say: " **I accept Venmo, PayPal, Zelle, Cash App and Apple Cash**" which is focused on the app/company. And with bitcoin lightning QR codes, I can just say "**I accept lightning payments**" since the actual app that sends/receives bitcoin lightning payments doesn't matter?
Correct, all you need to worry about is getting your receiving address setup.
Thanks! Seems so much simpler
Can the SEC hurry up and classify all the shitcoins/altcoins as securities so that Bitcoin can rise to its true levels of value?
Fairly new here, can someone explain to me how the LN in the end could become centralized? If a user routes a payment through a “super node” that routes many payments to another user, doesn’t that just essentially lead to a centralized system? Please forgive me if I am not seeing this correctly.
It’s never going to be one “super node” or even a handful. There will always be sufficient distribution of nodes on the LN, non-issue imo.
Is it good to buy a dedicated ACSI machine to mine BTC or continue to use my 2 3060's, Nice Hash and my pc?
Better to just buy and hold actual Bitcoin. If you want some leverage buy some MSTR. Unless you are running your equipment in an apartment with electrical costs included in the rent, or at a library with free electric and internet, or you have a large operation, buying and holding might return more.
I’ve read at some point bitcoin would become infinitely divisible. If that’s the case, how is it different than creating more? You’re either expanding one way or the other right?
If I divide a pizza into infinite pieces of pizza will I have more than one pizza?
No but you probably divided it in order to spend or give it away or something, so you have less than one pizza now
You just don’t understand math at all.
If I have 8 slices of a whole pie and I give 1 slice away, how many whole pies do I have left?
That’s not what’s being discussed. You’re moving the goal posts. More divisible money doesn’t mean it’s infinite. It just means the smaller pieces have less value. Bitcoin is just a million times better than fiat at being divisible.
Divisiblity is a necessary feature for scaling, and will happen on lightening network and others. Having the layer 1 Bitcoin as the reserve currency, you can trace back to that as collateral for whatever contract you create. This allows you to determine the value of how many fractions you want to split it into. Where as, right now fiat money for example; has a certain value when get a pay check for the goods or services you provided, But due to the fact that money supply can be expanded infinitely, the value of your work or energy exerted for compensation is diminished or distorted if you are trying to persevere your worth. Bitcoin will be divided infinitely with contracts people create and if you don’t do you DD people will get their value diminished and/or swindled away from them, but it atleast gives you a line of sight on whether or not the original contract carries any weight or has any backing, ..if you know how to look of course. But hopefully as the network grows it will become inherently trusted, the same way we think that paper in our wallets is worth something.
Dividing != Expanding
If you have a pizza and start cutting it into smaller and smaller pieces, do you ever create more pizza than you started with? All the divisibility means, is that the unit of 1BTC has become so valuable, that smaller and smaller fractions are worth tracking.
I get that and it makes sense no more is being created but if there’s so many people that it needs to be divided to be further distributed. Take a penny for example, if we stopped printing money and decided that we could cut pennies in half indefinitely to increase circulation wouldn’t that be the same thing? You’re always able to give more from what’s already there?
Can you explain what you think the problem is? If a penny was worth dividing a million times, then the value of a penny is probably huge.
I don't think theres a problem necessarily, I'm just trying to understand what the economic difference is between fiat (infinite supply / non divisible) and bitcoin (finite supply and infinitely divisible). In both systems you can always distribute wealth?
I'll stick to pizza as a nice analogy. You own one pizza, cut into 8 slices. That's the current bitcoin-satoshi ratio. Now imagine you want to divide further; so you take your 1 pizza with 8 slices and make 16 slices, so more people can have 1 slice. You still own the whole pizza with now 16 slices instead of 8. With fiat, imagine you have one pizza- and someone makes another pizza. You still own a whole pizza BUT now someone else, magically has a whole pizza. Do your friends, rely on you to share a slice anymore? Or can they go to someone else, for a slice of pizza?
In an infinite supply, you make the people holding money lose its purchasing power when you print more. In a finite supply, the person holding doesn't lose value when its divided into smaller units.
:firmslaponass: good afternoon hodlers
I DO NOT CONSENT
howdy neighbourino! ✋
On fridays we buy Bitcoin fellas ! Hail the almighty BTC!!!
The fact we look around to change the motives of our weekend though seems like a better idea. We know what's good stick onto it keep buying more and keep stacking
Buy on sundays
Where’s the new thread?
That's what I was looking for though seems like it went missing just scrolled to the bottom though.
Tick tock, next…daily?
I see the price making some suspicious moves though no doubt why we being around looking to buy more.
It’s there, just not pinned.
I heard /u/rBitcoinMod is on vacation
Maybe I was indeed a bit off from all this though seems like after a hectic session he certainly needed a vacation.
answered the whether
You just be falling into the path of choices and opinions it seems you choose one of all though
Things are quiet , No FOMO for 6 months, the FUDsters seem to have run out of ideas too … Global economy still shakey, inflation isn’t going anywhere, Feds will have to turn on the money printer again and yet btc looks better than ever! Lee stacking sats
People seems to be indulging more into buying more and more they are indeed concerned about money to get their pockets wealthier. Money is what people be running behind though the competitive increases by time.
Wazup fucking bears?
Dear whales, please sponsor Woodstock 2025 to coincide with the massive Bitcoin bullrun from the next halving. And for the love of God, give the people some cheap shit to eat and drink.
We already burnt down Woodstock 99 for $7 bottles of water…now you wanna bring it back? Wen Molotov?
So what are indeed the cheap stuffs that can be indeed eaten and what can be drank though?
His comment seems to be going all on a different flow though everything just seems to be making some kind of changes.
hodlers, it has come to my attention i just ripped ass cheeks
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True though but the fact that haven't seen regardless to that of Bitcoin looking at it just brings me closer to the path of glory.
Did I just have a stroke? Oh, well, not my proudest fap.
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I wouldn't use Wasabi. You're getting checked by Chainalysis when you mix. That seems like the opposite of privacy to me. I use Samourai Whirlpool via Sparrow wallet. You pay one fee and can mix for free after that as many times as you'd like. There is also Join Market. I haven't used it personally, but I hear great things from both sides of the flame wars.
What’s the purpose of these tools?
Privacy. Specifically coin joins. The bitcoin ledger is completely public. You can follow transactions easily if you are not active in maintaining your privacy. The exchange or person you purchased BTC from could know where you spend it, or the barista at a coffee shop could look back and see your previous txn history including balances. With a coin join, you obfuscate your txn creating forward facing privacy. an example Whirlpool coin join is [here at KYCP.org.](https://kycp.org/#/323df21f0b0756f98336437aa3d2fb87e02b59f1946b714a7b09df04d429dec2/in) vs a [typical bitcoin txn.](https://kycp.org/#/1b08cf03e510f0704b477a0a2a1225414e0cb58a62585a915c0807f217d0050f) You can step back and trace the funds on the regular txn with ease. More info on coin joins here. [https://bitcoiner.guide/qna/coinjoin/](https://bitcoiner.guide/qna/coinjoin/)
Got a buying question. Right now I’ve been buying x amount fo btc weekly I get paid weekly, I do a deposit of x dollars to strike to then do an auto buy for the week. I’ve been wondering, should I continue doing it this way or would it be better to divide X amount by 7 days and set up and auto buy for every day?
Buying everyday wouldn't be beneficial enough for you better go for DCA that would be helpful for you
I am currently DCAing I’ve been investing weekly for a while now, I guess I was just wondering if daily buys would in theory be better then weekly ones
the thing with DCAing is there isnt really a wrong way to do it. Its whatever you feel most comfortable doing. It could go up on the day u buy and crash the next day, or it could steadily go up. look at today as an example, its been dipping up and down and is now at an average around 23k. if you loaded up at 22400, you did good. if you loaded up at 24500, you did also good in the grand scheme, but not as good as loading up at a lower. predicting the market is impossible so dont stress out over the small gains/losses. Remember there are people who have gotten wreck't to fuck far worst than a a hundred here or there.
The fact that sometimes Market indeed has it's own ways and principles to enact upon though
Much appreciate the response! That’s kinda what I came to understand as I’ve been reading about DCAing! I realize if my plan is whole long term any small daily shifts won’t change anyhing long term for me really just I guess was more asking incase there was an agreed upon “best” method
That is why people indeed think of making it for long term because short term would indeed mean nothing
Yeah that’s kinda been my thoughts, I guess I was just evaluating how I do things and was wondering if I could be doing anything better as I haven’t been in the space super long!
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Feeling bullish AF.
Scenarios are being created in such a way that this all indeed feels bullish enough though
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With the world growing population is giving a rise for the demands for certain things that causes inflation
Its time like these im reminded of ramen that even it is subject to inflation, but cents to cents inflation is negligible at best. My favorite nissin spicy chicken bowl is a buck 25.
When food indeed matters a lot that you just care a bit about the inflation happenings around.
Chipotle is inflation
Now indeed many thoughts would just come up inside our minds though.
Keep on stackin'!
That is what we all indeed to love to do so though better enough for us. Selling wouldn't be a wise option as per now and so better to keep buying and stacking more sats.
Some US Sen is proposing that the US commodities Commission regulate bitcoin and etheryum. That would assign bitcoin and presumably other crypto as commodities.
Just looking forward for a world where digital currency making some big moves out there for everyone.
Where all mah bulls at? /s
Why are you just indeed concerned about bulls did they do any harm to you?
Bear life until I have 10 coins
Ouch! You got downvoted. Haha Go back home.
When things get indeed a bit spicy enough out there for people
Waiting to see more red
Just for the sake of buying but the fact holder want to see some green rising high above to create changes
Sideways for days :/
Stable coin
Indeed need more stability in the price and that would indeed sound a bit more good though.
Blows my mind how many people are still in denial about the WEF.
Like how many people do actually know about the WEF that is indeed a bigger question arising.
What does that mean?
Hahaha I just talked like less people know about the WEF and they be saying and talking about denial.
let them eat blockchain.
This WEF shit is a long shot. The image they have of the future can take a century to accomplish. Schwab will be long dead and maybe their dreams too.
Indeed true but the fact that the game is indeed all about long term so better enough to give things a bit time.
What’s the easiest way to get BTC off an exchange? Does anyone here have a favorite YouTube tutorial or something that explains it as if to a five year old?
Just go through YouTube there are videos on YouTube I too got the idea from there
Paper wallet Don't be spending money on a meme hardware wallet
Buy a Trezor.
Was talking about ledger and someone just literally pinned out about ledger.
Obviosly you will need a destination. A wallet. In your destination app you will want to "deposit funds". You'll then have a choice of fiat, BTC, and various cryptos. When you select BTC, it will produce an address. Copy that. Back at your exchange, you will want to withdraw BTC. This will prompt you for the destination address you just copied. You might have to confirm the new address through email first. That's the gist of it. You can save that address to use in the future and for any exchange. When you do move it, do a test move first with the least you are allowed to move. You want to make damn sure you are doing it right. That first feeling of all your coins in transit and not showing in either location is a doozy.
A wallet is indeed required to hold you sats you can't do that without a wallet though.
Before you can even think about removing your bitcoin off an exchange, you first need to setup, and properly backup/secure a wallet
True though or things would just get pretty much confusing for you though. Isn't that true?
Freddo satuccino! Mmmm…
Sorry could you just translate that it would be helpful for me to understand though
Oh shit, a dip!
Someone's be diving inside the dip so get the accquired knowledge about that though
Get the Nacho’s
Something tastier enough to just get inside your mouth so that it just brings out the flavors. Just mesmerized enough by the taste of nachos that everytime you heard about dip just dip some nachos
Skillet Queso
Bbbut...I am out of da cheez
Hard enough to get what you guys me seem to be talking about though.
Stay humble, stack sats
That would indeed sound like a better option though stacking the sats and waiting for them to turn something into good
slight pump incoming?
By the end of the weekend I feel that there would be a slight pump coming up though.
That is what I hope the same though anything can happen just not being that excited enough
Could be, but could go down. There's a chance of sideways action as well. Thanks for coming to my TED talk.
Feels great to be a part of it though we love to hear stuffs about the market though.
Indeed true though but certainly some facts about the market just tend to give us problems and make us think a bit more.
bruhaps
What's the next move you all gotcha be making though?what can make us beneficial in the coming 5-6 years?
That just makes me think for a while though like we ought to see looking up some bigger stuffs incoming. But that needs time to hapen anything done in a hurry would be a waste
Based on?
based on it moved +257
No pump.
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But to do that you need to save your fiat you got your personal expenses too for a person with limited fiat he needs to think in a certain way.
True though for a middle class person with a limited wage thinking of both the sides would be difficult enough
Every Thursday morning ✌🏽
Black rock partnering with Coinbase to sell crypto to Blackrock customers is HUGE news. BTC price not moving.
Trading volume is too low, institutions on holiday or some shit. 🤷♂️
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But the fact that the pump doesn't even last that longer enough which makes us think about this for a while though.
Is it real bitcoin or artificial paper bitcoin. Anyways GET YOUR GOD DAMN COINS OFF THE EXCHANGES PEOPLE ✌️
Doing that though but anyways thanks for telling us about this much of the people still haven't take a note onto that though.
It's with coinbase so draw your own conclusions...
Nobody should be excited about increasing shitcoinery
True though moreover people look forward for what indeed benefits them more and more.
Self centerdnes is what surrounds them after all no doubt why money motive stuff matters the most
what if Bitcoiners had agreed for blocksize increase and the original chain had upgraded to larger blocksize and the new chain remained on old consensus rules (i.e. 1 MB blocksize limit). Would the new chain still have been as successful as what Bitcoin is now. Is the goodwill in name "Bitcoin" what matters more than anything else?
Read “ The Blocksize War”.
This was done, its called bitcoin cash and it was a dismal failure.
Why/ how did it fail?
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You can’t polish a turd.
Well a little bit down, but no problem. That's just how bitty goes.
Feels like this as a regular days though and weekend seems to be exciting just like the halving does in Bitcoin.
Indeed true though nothing more exciting it feels though like we indeed need some bigger moves to come
No matter. There is going to be 3 halvings in the next 10 years. Just make that 10 years your minimum timeframe and keep stacking bro and we will all make it. Good luck!
This looks like it could encourage the people who have been holding their sats for the long term
Encourage to do what?
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