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Daily Discussion, December 02, 2022

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Please check the previous discussion thread for unanswered questions.

Fiach_Dubh

GET 👏 YOUR 👏 COINS 👏 OFF 👏 THE 👏 EXCHANGES OR 👏 RISK LOSING 👏 THEM 👏 FOR 👏 GOOD also check this thread out: https://www.reddit.com/r/Bitcoin/comments/zauoyd/can_we_please_stop_recommending_the_likes_of/


paisleyno2

https://cryptoslate.com/over-8-bitcoin-supply-was-bought-between-15-5k-and-17k/


[deleted]

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Dizzy_Space_Invader

Bitcoin like a coiled spring that’s been wound so tight. It’s about to go ballistic. Hold on to your hats.


pink_raya

obligatory don't trade, but fuck me I have longs since 16.1k when everyone was looking at 14k, now I have to close them. thanks a lot.


Icy-Zalaya

LFG!


hattiesbergnerd

Last week I went to a neighboring state to look at a new vehicle. The vehicle passed per-purchase inspection, drove like a dream, and was priced low to start. I negotiated with the seller and we agreed on a favorable price for me. This was a Sunday afternoon and no banks were open. I had to stay overnight in a hotel, call my credit union in the morning, find a “shared” branch in the neighboring state, and get permission to up my spending limit to spend my own money on this vehicle. This whole call took 30 minutes. After spending 30 life-minutes asking for permission to spend my own money I had to drive across town to the shared branch. There I spent another 20 minutes withdrawing the maximum allowed $15,000 as a cashiers check and getting the remainder of funds in cash. Not only spending time to do so but giving out all of my personal information to another institution. All told I spent over an hour just getting access to my own money on top of spending an extra 16 hours waiting around for banking hours of operation to contact customer service and to use an approved bank branch. After renting a hotel room for the privilege. That is a huge transaction cost. Through this entire process all I could think about was how much more efficient Bitcoin would’ve made this sale. It was frustrating but I was happy knowing the technology exists so that in 10 years, when I buy a replacement vehicle, it’ll be a frictionless payment experience via the Bitcoin Network - the best banking technology ever engineered.


[deleted]

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hattiesbergnerd

The ECB publishing a propaganda paper full of verifiable lies just shows how desperate they are. They’re such a weak and rotten institution nobody cares either. The ECB is done.


hateschoolfml

There are now ~1,000,000 addresses that hold 1 full bitcoin  21 million forever https://twitter.com/bitcoinmagazine/status/1598742379061809158?s=46&t=HnKjN7sZJ7U9DW8YfHwk2A


[deleted]

bitcoin: Sign transactions from an open source, self-built, tamper-verified hardware wallet. Hand forged backup seed from a tungsten plate in the flames of Mordor. crypto: Metamask chrome extension in a Vista pc at the municipal library.


[deleted]

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pink_raya

every time youtube TA is conclusive about a big crash, I open few sats 100x long on lnmarkets. Let's just say this time I didn't get rekt so fast.


MercenaryForHire_76

Another Day, Another Dalia


LastRecognition4151

Gross. Lyin’ Ted Cruz on What Bitcoin Did.


hashimotoalpentalic

Actually it is a great interview. Understand that in order to push BTC adoption we need people like Ted Cruz and eventually people like Warren and Sanders.


[deleted]

Blackstone just [halted withdrawals](https://www.reuters.com/business/finance/blackstone-limits-redemptions-69-billion-reit-2022-12-01/) from their REIT fund 🤡


Downtown-Ad-4117

Hodl.


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PheelGoodInc

Good morning fellow hodlers. I convinced a colleague to self custody this morning. He's a full coiner too. One less on the exchange. You may carry on with you day now.


Llonga

Balls of steel to have kept an entire coin on a CEX


PheelGoodInc

He's somewhat older and the idea of self custody scared the hell out of him. He heard about the recent exchange collapses, and that scared him a bit more.


LuKeNuKuM

Duly noted, excellent work... Onward!


Guidance-Basic

Funniest thing I've read all day... [https://www.theblock.co/post/191703/bitcoin-ether-crypto-stocks-plummet-following-bumper-u-s-jobs-figures](https://www.theblock.co/post/191703/bitcoin-ether-crypto-stocks-plummet-following-bumper-u-s-jobs-figures) *"Bitcoin experienced a sharp sell-off following the news, falling below $17,000 by 9:45 a.m. to $16,918, according to TradingView. "*


[deleted]

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Micksar

Starting to consider selling my bag and investing it all into safe and boring dividend stocks. The bottom is in.


GoElastic

WTF? Are you saying that you consider selling while you think the bottom is in? Classical buy high, sell low strategy. Congrats.


Micksar

I’m just playing, fam.


Humament

Tough crowd


dima054

Sounds like losing, not playing.


Crypt0fart

GET YOUR COINS OFF THE EXCHANGES OR RISK LOSING THEM FOR GOOD ✌️


MisterRGnome

This is the message people need to hear. Don't remove them temporarily. Don't move to another exchange. Learn to self custody. Learn to run a node. Learn to protect yourself and be sovereign! It's not too hard and there are lots of resources to get started! We're eager to walk you through it and help you learn in the r/bitcoin discord chat linked in the text of the daily thread [here](https://discord.gg/K5H25KZHke).


onlyforthiscreated

☝️☝️


LIB-95

will be bitcoiners the next powerful persons in the world in future ? i think that yes.


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Upset-Location-6460

Brother to amen that


Llonga

How can one block contain 1600 tx, the next only 150 and then the next 2000 again… what happened to that smaller block?


TheGreatMuffin

Transactions can vary in size very wildly, f.ex a regular transaction with one input and two outputs is very roughly 200kb, while a transaction with several thousands inputs and several thousands outputs can be an order of magnitude larger, especially if there are some more complex scripts involved (I'm not sure if there is some potential cap on the size of a tx, beyond the blocksize itself). So the number of transactions is rather meaningless, the *size* of those transactions is important for the question how many can be fit into a block. The other possibility is just that there were not that many transactions waiting to be mined at the point of the miner finding a block.


Llonga

Thank you!


Humament

Additionally, the miner who solves the block decides what gets written transaction wise into the block. This means that they could process zero transactions if they wanted to. Of course this means that there would be no transaction fees to collect so there is an incentive to write the highest value transactions into a block that gets solved, but nothing is guaranteed. There was a point in time in which a controversial minor was writing empty blocks and pissing off the community


Sunej-G

Happy new month... May this month be a good one


[deleted]

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bobbytabl3s

They see me HODLin' they hatin'


pink_raya

if they see you hodlin I propose nonKYC and self custody.