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Daily Discussion, November 01, 2021

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Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you! If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow. Join us in the r/Bitcoin Chatroom! Please check the previous discussion thread for unanswered questions. submitted by /u/rBitcoinMod [link] [comments] [Read More...]

The Bitcoin Is Generational Wealth Film

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“Bitcoin Is Generational Wealth” is a short film exploring the potential Bitcoin has across generations.Throughout recorded history, cycles of “rise and fall” repeat — both of civilizations themselves and of what they use for money. We are experiencing another fall now.However, something unprecedented has occurred — the invention of a money that is incorruptible, indestructible, and infallible: “un-fall-able.” It is money that can support on its shoulders a civilization that will also be un-fall-able. Bitcoin offers an incentive for cooperation on a global scale. The enabling of digital private property rights for everyone on Earth is an incredible leap forward in creating a safer world. The citizens of the world now have a reliable network upon which to coordinate their … [Read More...]

The Bitcoin Price Is Rallying Its Way To $100K

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The latest trends and indicators suggest that the price of bitcoin is on a journey to $100,000.Bitcoin’s bull market continues! After difficult and painful corrections during 2021’s third quarter with deep retracements reaching 50-60% declines, bitcoin has not only regained all of its strength but also has already surpassed its April highs of $65,000. The new all-time high at $67,000 has been established, and the previous zone of weakness for bulls around $58,000 in April-May has now been reclaimed with a strong weekly close through this area. This shows that the market is way stronger at the same all-time high levels than it was in April-May. We should see an unquestionable reign of the bulls for the next few weeks with bitcoin … [Read More...]

Kleiman v. Wright: Bitcoin’s Trial of the Century Kicks Off in Miami

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MIAMI — The civil trial of Ira Kleiman vs. Craig Wright kicked off in Miami on Monday to perhaps answer one of Bitcoin’s greatest mysteries: Who is Satoshi Nakamoto and what happened to the estimated 1.1 million BTC in his possession?Wright, an Australian computer scientist and early cryptocurrency pioneer, has been claiming to be the pseudonymous creator of Bitcoin since 2016. This suit posits that Wright did not act alone. According to Ira Kleiman, his late brother David – a fellow computer expert and longtime friend of Wright – was the co-creator of Bitcoin and is entitled to a share of a trove of bitcoin currently valued at $66 billion.The suit alleges that David Kleiman and Wright formed a partnership and established an entity called W&… [Read More...]

Coinbase Revenues Could Hit Nearly $50B by 2025, Investment Firm Says

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Coinbase is the best-positioned cryptocurrency-related company to benefit from the industry’s soaring growth, Hayden Capital said on Monday in a memo on the crypto exchange.Coinbase could reach $49.2 billion in revenue exiting 2025 under a bullish outlook of mass crypto adoption, rising interest among institutional investors and the sector growing to $6.8 trillion in total size. Under a more conservative crypto market cap estimate of $3.4 trillion, the firm would more than double revenues to $21.3 billion by 2025.Hayden’s prediction for 2021 revenue of $8.8 billion is higher than other analysts’ estimates; Coinbase is projected to generate about $7 billion in revenue this year, according to FactSet estimates.Hayden Capital believes that Coinbase will hold its market share lead over other exchanges, while also fending off … [Read More...]

Rich Dad Poor Dad’s Robert Kiyosaki Warns US Sliding Into Depression After Giant Crash, Recommends Bitcoin

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Robert Kiyosaki, the best-selling author of Rich Dad Poor Dad, has warned that the U.S. is “sliding into depression.” He said that a giant crash is coming, after which “a new depression” will follow. Bitcoin is among his recommendations for smart investing. Robert Kiyosaki Sees Giant Crash Coming, Followed by a New Depression Famous author and investor Robert Kiyosaki has warned of a new depression in the U.S. following a “giant crash.” Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. The famous author tweeted… [Read More...]

Elon Musk’s Warning About Government Spending and Unrealized Gains Tax Proposal Highlights Benefits of Bitcoin

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A warning by Tesla and Spacex CEO Elon Musk about the mounting national debt in the U.S., government spending, and the proposal to tax unrealized capital gains has highlighted the benefits of cryptocurrencies, particularly bitcoin. Elon Musk Says ‘Spending Is the Real Problem’ Tesla CEO Elon Musk made several tweets about the U.S. national debt and government spending last week. He also warned against the proposal to tax unrealized capital gains, aimed at billionaires, which was scuttled Friday amid questions about whether it would even be constitutional. Musk believes that if the proposal were to go ahead, the government would not stop at billionaires. “Eventually, they run out of other people’s money and then they come for you,” he tweeted early last week. Commenting… [Read More...]

The Pandora Papers: How punishing tax cheats can serve as a deterrent

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Enforcing punishments on proven tax cheats could provide benefits beyond improving compliance to tax laws. Once offenders pay up, billions lost to offshore scandals could be recouped and the tax burden more fairly shared among taxpayers. (Shutterstock) Law-abiding taxpayers look on with disappointment and disdain as details about the illicit financial arrangements of the ultra-wealthy […] [Read More...]

Tethered Up: How Stablecoins Plan To Stay Stable

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Many heads turned to the idea that a token meant to serve as a backed stablecoin may actually be manipulating the game. In enters Tether. These were heavy considerations especially with all of the beauty going on in the crypto world. Here is quick dive into what happened during the trials earlier this year, and how things have played out for the parties involved since. A New York State Of Affairs A complaint filed earlier this year claimed that Tether (USDT) had knowledge around the volatility of crypto’s total market capitalization, including a skyrocketing $795 billion in late 2017. Five crypto traders were the plaintiffs who claim they purchased cryptocurrencies at inflated prices and suffered financial losses as a result. As a result, the suit represented anyone … [Read More...]

Bitcoin Price Dips, Why BTC Could Dive Below $60K

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Bitcoin price failed to stay above the $62,000 support against the US Dollar. BTC could decline heavily if it breaks the $60,000 support zone in the near term. Bitcoin failed to surpass $62,500 and started a fresh decline. The price is now trading below $62,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $61,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate lower if there is a clear break below $60,000. Bitcoin Price Faces Resistance Bitcoin price attempted an upside break above the $62,500 resistance level. However, BTC failed to gain strength above $62,500. A high was formed near $62,950 and started a fresh decline. There was … [Read More...]

Daily Discussion, October 31, 2021

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Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you! If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow. Join us in the r/Bitcoin Chatroom! Please check the previous discussion thread for unanswered questions. submitted by /u/rBitcoinMod [link] [comments] [Read More...]

No, Bitcoin is not controlled by a small group of investors and miners (A rebuttal to the TechSpot article)

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https://preview.redd.it/vli0ofqwf6w71.jpg?width=3840&format=pjpg&auto=webp&s=2a704c47375637858c27216379ae8313dadf8be8 This could be a long read. Kindly bear with me. I write this primarily in response to the TechSpot article from yesterday (r/technology mods told me they only allow “mainstream news articles with editorial oversight and fact-checking” so I'm sharing this here). But I’d also like to take this opportunity to write about Bitcoin more broadly as someone who has been following it for more than a decade and I’ll try to do so without complicating the conversation for anyone unfamiliar with Bitcoin. The TechSpot article cites a non-peer-reviewed National Bureau of Economic Research (NBER) working paper from Igor Makarov and Antoinette Schoar… [Read More...]

Bitcoin Community Projects Communicate The Message Of Freedom

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Projects like the Declaration of Monetary Independence are examples of how the bitcoin community can bring powerful messages to greater audiences.Colin Crossman: Aspirational projects like the Declaration of Monetary Independence are designed to engender strong feelings — that’s part of their power. Much contemporary art was made about the American Independence movement, such as William Blake’s “America, A Prophecy,” and Philip Freneau in both “A Political Litany” and “American Liberty.” Such works help communicate the overall message of the movement to a broader audience, and often do a better job conveying the emotionality of the movement than the base layer argument.We can see much artistic output coming from the broad Bitcoin community, with a great output of audio and visual works. For me, … [Read More...]

The Bitcoin Dilemma

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Game theory is the science of multi-agent decision making. It uses mathematics to study the strategic interaction of rational decision makers. Game theory has social, logical, and computer science applications. It also has Bitcoin applications at the personal, social, business, and nation state levels.The Bitcoin DilemmaThe Center Cannot Hold: 11Game theory is the science of multi-agent decision making. It uses mathematics to study the strategic interaction of rational decision makers. Game theory has social, logical, and computer science applications. It also has Bitcoin applications at the personal, social, business, and nation state levels. Perfect vs Imperfect InformationSequential games can be organized into two categories, those with perfect information (e.g., checkers) and those with imperfect information (e.g., bridge). A game of perfect information … [Read More...]

Bitcoin White Paper Celebrates 13th Birthday

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“I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party.” Those were the words pseudonymous Bitcoin creator Satoshi Nakamoto used to greet the world some 12 years ago in an email releasing the Bitcoin white paper.To this day, nobody still knows who Satoshi is. Since April 23, 2011, nobody has heard from him/her/them after they signed off an email saying,I’ve moved on to other things. It’s in good hands with Gavin and everyone. A technical description, the Bitcoin white paper was the first document to outline the principles of a cryptographically secured, trustless, peer-to-peer electronic payment system that was fundamentally designed to be transparent and censorship-resistant, as well as put financial control back … [Read More...]

The Bias That Propels Shiba Inu and Dogecoin

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Bitcoin may be the alpha dog of crypto, but for many small retail investors these days, dogecoin and shiba inu are the pick of the litter.Binance subsidiary WazirX, India’s largest cryptocurrency exchange, suffered outages as traders jumped into the fray, buying shiba inu and stressing out the platform’s servers to the point that trade executions were delayed this past Wednesday. Over half a billion dollars’ worth of trades were done on WazirX that day, the highest of any crypto exchange in India, CEO Nischal Shetty tweeted.“It basically brought down our exchange,” Siddharth Menon, one of WazirX’s co-founders and its chief operating officer, said on CoinDesk TV’s “First Mover” program Thursday morning. “The kind of active numbers and the active users that we saw … [Read More...]

Apple Co-Founder Steve Wozniak Warns Governments Will Never Allow Crypto to Be Out of Their Control

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Apple co-founder Steve Wozniak sees bitcoin as mathematical purity, praising its fixed supply. However, he said that governments will never allow it to be out of their control. “If it got to the point where everything is being done in crypto and didn’t pass through governments for observation and taxation and all that, governments would just disallow it,” said the Apple co-founder. Steve Wozniak Says Governments Will Never Allow Crypto to Be Out of Their Control Apple co-founder Steve Wozniak talked about cryptocurrency in an interview with Yahoo Finance Friday. He was asked, “Are you a believer in crypto?” The Apple co-founder replied: “Crypto has an awful lot of promise through the blockchain of different things it can do differently than… [Read More...]

Mad Money’s Jim Cramer Invests in Crypto Because ‘There Could Be Millions of Greater Fools Out There’

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The host of Mad Money, Jim Cramer, has some advice for crypto investors. “As long as you recognize the very real possibility that the whole investment case for crypto rests on the greater fool theory, you’ve got my blessing to speculate on it,” he said. Cramer added that he is holding ether because he believes “there could be millions of greater fools out there.” Jim Cramer’s Crypto Investing Advice The host of the Mad Money show on CNBC, Jim Cramer, talked about crypto investing Thursday. The former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website, said: As long as you recognize the very real possibility that the whole investment case for crypto rests on the greater fool theory, you’ve… [Read More...]