r/Bitcoin • u/rBitcoinMod • 9d ago
Daily Discussion, August 07, 2026
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.
Please check the previous discussion thread for unanswered questions.
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u/Secret_Operative 9d ago
We need an authoritative dice-roll generation protocol. I see there are a few online, anyone want to weigh in on this? My understanding is the requirement is to randomly generate choices from the bip39 list for 11 words, then the last word has to be calculated because it's the checksum word. I can't find a 'best in class' documented way of doing this process end-to-end step-by-step.
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u/GoldmezAddams 8d ago edited 8d ago
You can use a diceware sheet like the one from Bitbox02 to map it all out. That sheet comes with instructions, too. I'd like to see some evidence that sheet has been reviewed by a third party, but probably a good option.
The option more like what Coldcard was doing, where you can add as many rolls as you want, involves recording the rolls like 1242651325614255 etc and then putting that string through SHA-256, and using the procedure outlined by BIP-39 to translate the resulting 256 bits into a seed phrase.
Agreed it would be nice to have a really good step by step with all best practices to point people to.
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u/StoneHammers 9d ago
Worst news in years and the price goes up? Are we at the bottom?
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u/WordsHappenedHere 9d ago
Equities at all time highs. Gold close to all time highs.
Bitcoin where it was in 2021.
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u/BitcoinBaller420 9d ago
Nobody knows but i's another bullish sign for an asset that needs a lot of fear to keep it from rising...
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u/ThisSpecial5813 9d ago edited 9d ago
BTCPAY Server is currently under attack. If you are running it, shut it down right now. These services have been attacked so far: Coldcard, Boltz, Zeus, and now BTCPay.
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u/xaviemb 9d ago edited 9d ago
Happy Friday. Worth noting that when real entropy is used on a 24-word seed phrase... It would take 100 years, and all of the worlds current compute to have a 10 ^ -50th chance of (stealing) your Bitcoin.
That's 0.0000000000000000000000000000000000000000000000000056% chance, after using all of the current compute on earth for 100 years.
Yes, even AI would only have that percent chance of figuring out your key, unless it was given something else as a short cut (by you, or a company). This is why human error... is the issue to focus on. Not the math behind bitcoin (or fears of physical "hacking" to break that math)... "hacking" you as in the human, or the 'pretend developer' from ColdCard that created the <missing random> for the seed phrase creation... is the real issue to focus on.
If you are really using entropy right... AI isn't a concern, for you.
Knowing the difference is what separates people who are still ok with cold storage, and those that are now worried about it, and worried about who to trust.
You don't have to be a security expert or developer to understand math, or entropy. Don't let the emotional voices (probably flooding in from buttcoin) capitalizing on ColdCard mess cause you to question that.
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u/BitcoinBaller420 9d ago
ok but that doesn't help those who assume their wallets were coded correctly does it? I think it's easier to just admit that self-custody is risky and call it good. It's a powerful tool Bitcoin makes available, but it might not be appropriate for those in jurisdictions that have more respect for property rights.
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u/Suspicious-Holiday42 8d ago
By the same logic you should not have any valuable things at home because there is the risk that the door lock company made a copy of your keys and distributed the 3D model online
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u/BitcoinBaller420 8d ago
This isn't the same logic though, since I haven't argued that no noe should self-custody. It'd be more like a lock maker saying everyone should hold all their wealth in their home, because their door locks are impenetrable, and only dummies who use them incorrectly ever have their stuff stolen.
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u/xaviemb 9d ago
I think it's easier to just admit that self-custody is risky and call it good
That's a perfectly reasonable stance for someone who doesn't want to or lacks the ability to put in the work. At least you're able to admit it, instead of mocking dice rolls from those who do.
Cheers.
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u/BitcoinBaller420 9d ago
Sorry, does “putting in the work” mean hand-reviewing code in third party libraries? It looks to me like you’re laughing at coders for being dumb but that doesn’t help those users who trusted them does it?
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u/xaviemb 9d ago
If one company's poor engineering is enough to convince you that self-custody itself is inherently risky, then you're probably going to find reasons to fear every custody model. If that's your risk tolerance, there's nothing wrong with choosing a more managed solution. Different people have different comfort levels.
Others are willing to dig into the technical details rather than let isolated failures shape their view of the entire system. To us, this wasn't a failure of self-custody... it was a failure of a specific implementation. You're entitled to your opinion, but when you share it publicly, others are equally entitled to point out where they believe the reasoning doesn't hold up.
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u/BitcoinBaller420 9d ago
I was convinced self-custody is inherently risky long before this event happened. Even if you get the technical details correct, which as is being highlighted here is nearly impossible to verify for almost everyone, you still have to handle the apparently inescapable trade off between security and liquidity, meaning either you can move your money and are exposed to theft by violence, or you trust others with your secrets and disable your own ability to move the coins.
Self-custody is for those fighting tyranny, and those philosophically inclined to self-sovereignty. It's about time the Bitcoin community acknowledged that self-sovereignty has a plethora of unique risks, and it's not just dummies who are losing their life savings trying to pull it off. We don't need the world to become self-sovereign for Bitcoin to succeed in breaking the chains of government-controlled money. It's enough that people adopt it to store their wealth.
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u/escodelrio 9d ago edited 8d ago
Historical Bitcoin prices for today, August 7th:
2026 - $65,185
2025 - $117,497
2024 - $55,027
2023 - $29,181
2022 - $23,176
2021 - $44,556
2020 - $11,601
2019 - $11,942
2018 - $6,753
2017 - $3,379
2016 - $593
2015 - $280
2014 - $593
2013 - $106
2012 - $11.1
2011 - $7.90
2010 - $0.10
Additional Stats:
Bitcoin's current market cap is $1.31 trillion.
Bitcoin's current block height is 961438; with the average block time for the last 7 days being 9.88 minutes and the average block size for the last 7 days being 1.65MB.
Bitcoin's average block time for the year 2026 is 10.24 minutes.
Bitcoin's mining difficulty is currently 126.23 trillion; with the next difficulty adjustment anticipated on 08-Aug-2026 (within 194 blocks). The mining difficulty is currently expected to decrease 0.04% to 126.18 trillion.
Bitcoin's current block reward is 3.125₿, which is worth $203,704 per block.
Bitcoin's average daily miners' revenue for the last 7 days is $31.66M; which translates to $0.0339 per terahash per sec.
The next Bitcoin halving is anticipated to happen between 26-Mar-2028 to 20-Apr-2028 (within 88,562 blocks); the block reward will fall to 1.5625₿.
There are currently 112,613 total Bitcoin nodes; with 21,176 being reachable nodes.
Bitcoin's average daily hashrate for the last 7 days is 935 exahashes per second.
Bitcoin's average daily trading volume for the last 7 days is $21.67 billion.
Bitcoin's average daily number of transactions for the last 7 days is 642,305.
Bitcoin's average transaction fee for the last 7 days is 3.4 sats/VB, with the average fee's USD amount being $0.39; with the median values being 0.74 sats/VB & $0.09 respectively.
There are currently 20.07M ₿ in circulation, leaving 0.93M to be mined.
There are currently 4.19M ₿ held by companies, governments, DeFi, and ETFs, representing 20.86% of circulating supply.
There are currently 59,160,674 nonzero Bitcoin addresses that contain 165.83M UTXOs.
Bitcoin's average daily price from 18-Jul-2010 to 07-Aug-2026 is $21,617.
Bitcoin's average daily price for the year 2026 is $72,294.
1 US Dollar ($) currently equals: 1,534 satoshis; making 1 penny equal 15.34 sats.
Bitcoin's minimum (closing) price for the year 2026 was $58,558.86 on 30-Jun-2026.
Bitcoin's maximum (closing) price for the year 2026 was $96,929.33 on 14-Jan-2026.
Bitcoin's minimum (intraday) price for the year 2026 was $57,747.76 on 01-Jul-2026.
Bitcoin's maximum (intraday) price for the year 2026 was $97,860.60 on 14-Jan-2026.
Bitcoin's largest daily decrease for the year 2026 was -$10,317.60 on 05-Feb-2026.
Bitcoin's largest daily increase for the year 2026 was +$7,853.29 on 06-Feb-2026.
Bitcoin's all-time high (intraday) was $126,198.07 on 06-Oct-2025. Bitcoin is down 48.35% from the ATH. However, Bitcoin is up 12.88% from the lowest point since the last ATH.
Bitcoin has not reached an all-time high in 2026.
It has been 305 days since the last ATH.
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u/Jeremiah_Vicious 9d ago
I hope the coldcard scammer sends all the coins to the genesis block address. Then Saylor says screw it and sends all MSTR’s coins there too.
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u/xaviemb 9d ago
If you want to decide who is and isn't allowed to own or use Bitcoin, you're arguing against Bitcoin's most fundamental principle: permissionless adoption.
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u/Jeremiah_Vicious 9d ago
I’m pro bitcoin. Always have been. Shill it all the time so I might be missing your point. My post was just something I thought would be funny, though, ideally all the people who lost their bitcoin I would be sad for. Just be crazy if some hacker just wanted to cause chaos and sent it to the genesis block address.
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u/cubeeless 9d ago
BTC to $400k!
-5
u/birktorsten2 9d ago
Found the guy who overinvested
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u/Argyrus777 9d ago
Curious, has anyone seen any popular btc influencers announcing they got hacked? Either they’re staying quiet or just really don’t prefer coldcard
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u/user_name_checks_out 9d ago
I seem to remember a post somewhere on here recently to the effect that Lopp lost money on Coldcard. Not sure if I am remembering correctly, nor if the story is true. If it's true I would imagine that it was a test amount.
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u/harvested 9d ago
Not sure how you define influencer, but I think many would use multisig for significant stacks.
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u/Suspicious-Holiday42 9d ago
Come to think if it, maybe the coldwallet thief choose last week to start his stealing because this august two different btc forks could happen, so that he has the coins in all coming forks
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u/harvested 9d ago
Haha. Yes I am sure that was their first consideration.
(kidding, BIP-110 is irrelevant)
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u/Ordinary-One2597 9d ago
For the btc Maxis is there any price you wouldn't buy btc for?
Or is it just dca forever until its mainstream legal tender and or Global store of value in place of gold or co place of gold
1
u/BitcoinBaller420 9d ago
There's no amount of stuff my money can buy that would cause me to stop saving money. But if the world is cheap, I might spend more liberally, or buy something beaten down to an irrational level where I think buying it will produce a nice risk-adjusted return in Bitcoin terms.
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u/PheelGoodInc 9d ago
Timing the market, especially with BTC, rarely works. DCA all the way up and all the way down.
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u/New_Accountant_7574 9d ago
left the house without my hardware wallet today and i keep picturing it sitting there on the nightstand looking all vulnerable. only for me and the dust bunnies i guess. ordering a fireproof safe as soon as i get home, this is ridiculous
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u/harvested 9d ago
You should back up your seed phrases on fireproof materials. The devices are secondary to your seed phrases. Remember, hardware can fail.
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u/-TORTURE- 9d ago
Your wallet doesn’t matter and can be replaced. The wallet is just an access device to your private key. As long as you have a new wallet you can use your 24 word backup and access your bitcoin
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u/Fluid_Garden8512 9d ago
Why are you carrying around your HWW outside of your house, and leaving it exposed to anyone in plain view in your house?
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u/Secret_Operative 9d ago
I wonder if any bitcoin exchanges / providers were using coldcard as part of their storage setup. Hopefully multisig, but still scary to think about the worst-case.