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May 13, 2017

April 5, 1933 Roosevelt banned the hoarding of gold coin, bullion, and certificates. Another example as to why Bitcoin is a superior store of value.


April 5, 1933 Roosevelt banned the hoarding of gold coin, bullion, and certificates. Another example as to why Bitcoin is a superior store of value.
http://bit.ly/2cgTSSa

Submitted May 14, 2017 at 04:34AM by M0n0poly
via reddit http://bit.ly/2qefOUq

To be fair, none of the UK news outlets are blaming Bitcoin


To be fair, none of the UK news outlets are blaming Bitcoin

I'm picking up on a sentiment that mainstream news is blaming Bitcoin for the ransomware. Obviously I can't pledge for all of the UKs mainstream news, but I have spent the past day reviewing different outlets and non are blaming Bitcoin. In fact they all seemed to pick up the NSA connection quickly and not really discuss Bitcoin at all. Is it being reported differently outside of the UK?

Edit: After reading the responses of others, can we assume this is an example of Bitcoin mass acceptance, the step before mass adoption?

Submitted May 14, 2017 at 12:25AM by genieforge
via reddit http://bit.ly/2qgPYgx

Antminer s9 or l3+


Antminer s9 or l3+

Thinking of picking one up soon. The l3+ appears to be more profitable with calculators, but I assume it will decrease quickly soon as people get them.

I won't be able to place the order until about ~1 month from now. Which would be the better option overall? Leaning towards the l3.

Submitted May 14, 2017 at 06:11AM by sillibird
via reddit http://bit.ly/2pwBg86

$1MM segwit bounty


$1MM segwit bounty
http://bit.ly/2qeLp8m

Submitted May 14, 2017 at 03:38AM by nichpumba
via reddit http://bit.ly/2pJwcIO

Thank you Core devs!


Thank you Core devs!

There are sometimes negative posts/comments about Core developers, so I want to say something positive now.

Today I decided to enable pruning on my laptop. (Don't worry, I have full chain on my node. ;)) What I expected was Core scanning the Blockchain, analyzing and throwing away old data. I expected this to take long time.

The moment it showed GUI, I looked at the size. It was about 20G (I set prune=10240). I was greatly amazed how fast it was. This is really awesome!

Thank you Core developers for your hard work and for very efficient design! You've made my day.

BTW, if anyone would like to explain it why it's so fast, I'd be interested to know it!

Submitted May 14, 2017 at 03:27AM by kixunil
via reddit http://bit.ly/2qdYf7a

Pieter Wuille’s Latest Project: Making Bitcoin Harder to Lose


Pieter Wuille’s Latest Project: Making Bitcoin Harder to Lose
http://bit.ly/2qcXHyn

Submitted May 13, 2017 at 08:31PM by Lukovka
via reddit http://bit.ly/2rbDWEC

US Government Awards $2.25 Million to Blockchain Research Projects


US Government Awards $2.25 Million to Blockchain Research Projects
http://bit.ly/2r4cCM7

Submitted May 13, 2017 at 08:29PM by Lukovka
via reddit http://bit.ly/2pJapSk

“Why I sold half my bitcoin” post follow up.


“Why I sold half my bitcoin” post follow up.

Two months ago I posted a thread about selling half my bitcoin. That post got a lot of responses at the time, both positive and negative. Since I sold my bitcoin, the price has gone up over 50%; which is quite remarkable and something I certainly wouldn't have predicted.

Today someone asked me a follow up question, effectively, 'how do I feel about my decision today'. I thought I would share my reply because I hope some people might find the advice useful. If you don't find it useful, that's just fine, but I think anyone sitting on bitcoin worth hundreds of thousands of dollars, or even millions of dollars, is probably facing similar thoughts and concerns as well. Basically whether or not to take profit, when to do so, and how to deal with regret of 'missing out'.

do you regret the volume that you sold?

In some sense, sure, yeah. I mean how can you not 'regret' missing out on making tens of thousands of dollars more money if you had just waited a couple of months?

However…look at the time when I made this decision. The ETF had been denied. There was an active BU HF attack (and that threat still exists today). The price had crashed substantially. There was just an enormous amount of uncertainty in the market. I'm not sure who could have predicted this current runup in the price, I certainly wouldn't have predicted it, and I still don't understand why it's happening.

That said, this is true of any asset you sell and take profit on. Sure, it 'could' have gone up. It also 'could' have just as easily gone down.

What didn't change is what I did with the money, and I'm very happy with that outcome.

My selling about half of my bitcoin resulted in the following.

  • I got 100% of my entire original investment back out. Not just what I spent on those bitcoin, but the ones I still have left. My effective cost basis, at least in my own mind if not for tax purposes, is now zero. Speaking of taxes, another reason I did this is that I recently sold a bad real estate investment which realized a $40,000 loss. I was able to offset that loss against the bitcoin gains for tax purposes. This was another motivating factor in selling at the time.
  • I not only got my entire original investment back out, but I also took a lot of profit as well. So, not only can I say I never lost any money in bitcoin, no matter what happens, I can also say that I made a lot of money off of it as well.
  • Now that I took my original investment back out I no longer have any worries about the remaining bitcoin I own. When I had a lot of money still personally invested I had a lot of anxiety over it. In other words, I had invested 'more than I was willing to lose'. Now I feel like I'm 'playing with the houses money' and I don't really stress about the price.
  • Bitcoin is still available for sale. There is nothing preventing me from buying on the dips. In fact, the last time it dipped around $900 I did actually buy a little bit more. If I want to slowly add to my stash again, I can. Nothing is stopping me.
  • The biggest thing of all, however, is what I did with that money. I paid off about $90k of student loans for two of my adult children. This, to them, was life changing. How much this changed their lives, and removing financial anxiety and burden on them, was worth far, far, more than my desire to hold onto those bitcoin.

In this respect, I would still recommend the same to others. If selling some of your bitcoin, and taking some big profit, can affect a major change in your life, I recommend it. I don't ever recommend selling all of your bitcoin to anyone, but selling some, once it has become worth 'too much to lose', doesn't seem irrational to me.

As I said, if you change your mind later, it's still available for sale.

Submitted May 13, 2017 at 04:52AM by jratcliff63367
via reddit http://bit.ly/2rdSc0D

‘Kill switch’ found for ongoing ransomware attack


‘Kill switch’ found for ongoing ransomware attack
http://bit.ly/2pv4LqN

Submitted May 13, 2017 at 03:30PM by reasonably-late
via reddit http://bit.ly/2qfYqNj

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