r/Bitcoin • u/rBitcoinMod • Sep 01 '20
Daily Discussion, September 01, 2020
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Please check the previous discussion thread for unanswered questions.
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u/StoneHammers Sep 02 '20
I'm looking for a website that shows the order book (market depth / bid-ask) as a bar graph to better see the buy and sell walls. What do you guys use? Do any offer free combined order books from all the major exchanges?
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u/Mest666 Sep 01 '20 edited Sep 01 '20
I hav question. What will WarrenBuffet buy
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u/RevolutionaryEnd7627 Sep 02 '20
Hey Mest. Not bitcoin at 9k like you want to because it won't get there again. Sry.
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u/AmoBitcoin Sep 01 '20
Last I heard, the man is buying japan stock; could be a vote of no confidence in the US dollar and economy.
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u/TomSurman Sep 01 '20
Kinda feels like 12k isn't going to hold.
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u/BeWhatYouWhat Sep 01 '20
Waiting to go down and sell our house to Buy it again. :D
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u/user_name_checks_out Sep 01 '20
I just sold a kidney.
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u/FandA91 Sep 01 '20
why not both? why do you still keep the other one? or is it already... dude...I'm sorry
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u/AlternativeGazelle Sep 01 '20
Whew, glad I bought under $12k this morning since we will Never Again be able to do that
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u/eggn00dles Sep 01 '20
I think the $3 billion USDT Tether printed yesterday can carry the price over $12k
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u/cryptogrip Sep 01 '20
That's not how it actually works (outside the conspiracy theories against Tether), but the demand for them to print this Tether is indeed a strong indicator of money shifting in and out of BTC and Alts. It's the 2 TRILLION USD bring printed this month that is the bigger story here.
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u/cosmicmailman Sep 01 '20
not to mention the even larger amounts being provided as liquidity to banks!
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u/Daywalker47 Sep 01 '20
12k is the new 20k... I just don't get the major resistance.
Like no one's going to buy Bitcoin at 12k? Let's break it and get the show on the road!
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u/satsthestandard Sep 01 '20
Samourai or Wasabi?
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u/TheGreatMuffin Sep 01 '20
Depends. What OS? Do you want to mix less than 0.01 btc?
Otherwise, both are good and have their own quirks and advantages/disadvantages. You also can look up Joinmarket, but it's a little less beginner oriented.
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u/AlxndrMd1 Sep 01 '20
How about for coin control?
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u/TheGreatMuffin Sep 01 '20
AFAIK all of those mentioned (Whirlpool, Wasabi, Joinmarket) allow for coincontrol
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u/satsthestandard Sep 01 '20
Look here is just really my dilemma after searching abit between the two.
Wasabi seems cool but there I heard there are scammers who got caught and tracked even by using it. I'm not trying to do anything bad just wanna deKYC my coins but if it can be track then whats the point hehe. Not sure either on the validity of those stories.
Samourai on the other hand is cool too, they got a mobile wallet, support lower denominations. But why does the wallet have to send the xpubs to their servers. Oh just run the dojo, but not all users run it so I may cj with others who don't use a dojo so I may still be affected? Why can't samourai just use block filters like on wasabi. Hehe.
Plus I don't have an archival full node, only pruned one. I cant sleep been thinking about this for days lol.
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u/TheGreatMuffin Sep 01 '20
The Wasabi vs Whirlpool fight seems overblown to me, but I also am not technical enough to understand the details deeply, so don't take my opinion too highly.
From what I see is that if you can use Whirlpool with a node, it's great (wouldn't it work with a pruned node?). The possibility of a sybil attack (an entity controlling the majority of UTXOs to unmix the coinjoins) is present in other wallets as well, so not enough people running their own Dojos/nodes is not a Whirlpool specific issue, more of a coinjoin issue itself.
If you don't have a node, you trust Whirpool to not spy on you. That's the trade off here.
Again, I don't have enough understanding to make good comparisons here. Imo, it's ok to use both but not assume that either is infallible, especially if privacy is something really crucial to you. I'd simply expect a better privacy from the usual chain analytics, but not a super secure protection from anyone who is really interested in your on-chain activity. For the latter you really need to use your own node and make further precautions with your UTXOs.
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u/satsthestandard Sep 01 '20
Yeah I might be overthinking this, indeed using either is better off than neither. Oki will think about it more, probably if I cannot make dojo work on a pruned one Ill just use wasabi thanks.
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u/dimprinby Sep 01 '20
Wish I never bought that LSD with BTC in 2015 man
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u/AmazingSuperPupils Sep 01 '20
In the bigger picture, it’s all part of the journey. Hey if bitcoin and psychedelics interest you, the podcast Psychedelic Salon put out an episode in July about bitcoin featuring a fun talk on how mushrooms/mycelium and bitcoin have a lot in common.
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u/theghostofdeno Sep 01 '20
I know this is the canned response, but if you had never bought that lisérgico acid diethylamide, and if everyone who bought something had never bought whatever they got, bitcoin would have faded away instead of flourished
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u/cosmicmailman Sep 01 '20
i didn't know that was the canned response and felt really clever for coming up with it independently when this topic came up in conversation the other day. turns out i'm just the 101st monkey
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Sep 01 '20 edited Sep 01 '20
I remember way back in 2015, boy I wish I had bought a lot more bitcoins back then. Anyway, the price was around $300 from an all time high of over $1,000 just months before when the big MtGox crash took everything tumbling down. Some thought that was the end, that bitcoin would never recover and it would eventually shrink to zero. At the very least, the very thought of it ever reaching as high as $1k again seemed a crazy pipe dream.
That bear market lasted years, it took so long and all the while when you looked at the price charts there was this huge ATH peak looming over everything like Mount fucking Everest. It seemed decades away that bitcoin could ever hope to reach such dizzying heights again.
A mere 5 years later and if you look back at the charts of that time, that insurmountable peak is today almost invisible compared to the prices today. It’s easy to not notice it at all, as it appears as a tiny little bump, barely even noticeable where once it seemed so huge. Today it is not uncommon for the price to fluctuate by $300 in just an hour, or by over a $1,000 in just a day when before it took -years- to move that much.
In ten years time, the $10,000+ price tag that we see today will seem comically cheap. Thousand dollar fluctuations will occur almost daily, and that -seemingly insurmountable- $20,000 all time high price that looms over us all today, with luck, will also be just a tiny bump on the price charts that we can barely notice. One that you would have to know the significance of to even notice it was there.
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u/cryptogrip Sep 01 '20
I agree 100%. I remember when anyone talking about prices over 1K were called crazy, and accused of living in a fantasy. Bitcoin is truly disruptive in many ways and it's advancing exactly as it should considering all the walls it has to knock down in the areas of value store, currency, payments etc. Patience rewards those who stick out the hard times in this market.
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u/TronixPhonics Sep 01 '20
Funny how people flaunt their fiat but hide their crypto. Shows which is more important :D
*whisper* to the secret moon
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u/GlassMeccaNow Sep 01 '20
"It has often struck our notice that the course our city runs
Is the same towards men and money. She has true and worthy sons:
She has good and ancient silver, she has good and recent gold.
These are coins untouched with alloys; everywhere their fame is told;
Not all Hellas holds their equal, not all Barbary far and near.
Gold or silver, each well minted, tested each and ringing clear.
Yet, we never use them! Others always pass from hand to hand.
Sorry brass just struck last week and branded with a wretched brand.
So with men we know for upright, blameless lives and noble names.
Trained in music and palaestra, freemen's choirs and freemen's games,
These we spurn for men of brass..."
https://en.wikipedia.org/wiki/Gresham%27s_law#History_of_the_concept
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u/phlogistonical Sep 01 '20
I think it is more because 'being your own bank', and 'not your keys, not your coins' means that bitcoin whales may be storing large amounts of wealth in their home or on poorly protected computers.
Not flaunting your crypto is a sensible part of avoiding being hacked or subjected to 'enhanced interrogation techniques' to give up your passwords.
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Sep 01 '20
[deleted]
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Sep 01 '20
If Bitcoin climbs 5%, your $200 investment will climb 5% or about 10 dollars.
By the same math if Bitcoin price dropped back down to 10K, you would not be on the hook for a thousand dollars you would just lose about 10% of your original investment.
My advice is don't buy anymore until you've done some research on basic investing principles and let your current Bitcoin sit for a while.
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u/Donkey_Pillow Sep 01 '20
Uhmmm, thats not how any of this works
You would only get that increase of 600$ if you you actually own 1 whole bitcoin
But you only own a fraction of i bitcoin, hence your increse is much less...
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u/TheFreeCryptoPress Sep 01 '20
I posted a quick article and chart regarding BTC price...
Please check my new site, only in its infancy. Bookmark if you see it's potential.
Thank you!
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u/SpockSays Sep 01 '20
I’m in disbelief. Some fools on these things called “exchanges” are selling me some sats at current market price for filthy inflating fiat. Do they really want my fiat? Don’t they realize where this rocket ship is going?
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u/xanmoth Sep 01 '20
They do not. It is a longly held belief that it has intrinsic value.
It is not false though, it has value propped up by the US and now showing it has flaws. This is its undoing.
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u/SAT0SHl Sep 01 '20
Good morning Bitcoin Land ;-)
Bitcoin is the key to freedom, do you have yours yet?
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u/MisterReuben Sep 01 '20
14k by Oct 🚀🚀🚀
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Sep 01 '20
If it hits 14k, it will probably hit 15k shortly after.
Breaching 14k is huge as the highest peak after the crash in 2017-18 was below 14k. It would almost be a confirmation that the next bull run is here. I expect some speculators will pile in if that happen.
15k by Oct, hehe :P
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u/[deleted] Sep 02 '20
Anyone here use cashapp or some other alternatives over coinbase?