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r/Bitcoin

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Channel address: @r_bitcoin
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r/Bitcoin

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The latest Messages 20

2023-02-13 02:44:04
20 views23:44
Open / Comment
2023-02-13 02:43:51 Home reno and handyman services company encouraging BTC payments

https://redd.it/110ozrr
@r_bitcoin
20 views23:43
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2023-02-13 01:42:21 After five years this will be probably my last update in the matter now that LocalBitcoins is shutting now, 29 BTC were traded last week in Venezuela and now monthly minimum wage is around 5 USD!

Hi guys as every sunday, I like to post this here too:

Hi guys, this has been a long journey but all journey come to an end. I say probably because the data posted by CoinDance (my source) has one week lag so maybe we will get data next week (and maybe I will do some recaps).

But still even when LocalBitcoins will work for more 4 days, now that it announced it was shutting down people already stopped using it.

We had great weeks with over 2k BTC traded in one WEEK years ago!



Traded BTC since 2018. Source CoinDance

For us Venezuelans, LocalBitcoins will have a special place because when the government was really hard exchanging bolivares to any other country (it was forbidden by law), we found a windows in LocalBitcoins.

Time passed and alternatives like AirTM, Binance, Reserve came out and LocalBitcoins started losing its userbase with only some hardcore fans. Also they never updated or got an smartphone app.

These hardcore users will move probably to Binance (where there is P2P, bolivares to BTC).

Let's see what happens with other alternatives like Bisq. I wonder if the traded volume is open information?

LocalBitcoins was nice because the public data. Binance, AirTM and others do make public anything so, we will never know.

One BTC traders around 550,000 Bs. (Bolivares). Doesn't seems to be that high considering the inflation, but government did a trick and has removed 14 zeroes from the currency since 2007.

Monthly minimum wage is 130 Bs. (around 5 USD) and average is around 120 USD. Living here is a problem, one whole chicken in more than one month of work (at minimum wage).

Inflation is around 300% yearly, way lower than before.

People use crypto to avoid inflation, receive remittances, exchange mining profits (as I always say, electricity is free for now) and just as a form of payment.

Any question, let me know!

*https://en.wikipedia.org/wiki/Hyperinflation\_in\_Venezuela*

*https://coin.dance/volume/localbitcoins/VED/BTC*

*https://coin.dance/volume/localbitcoins/VED*

*https://localbitcoins.com/country/VE*

*https://www.reuters.com/world/americas/venezuelan-teachers-march-better-pay-amid-sky-high-inflation-2023-01-16/?utm\_source=reddit.com*

https://redd.it/110grpv
@r_bitcoin
24 views22:42
Open / Comment
2023-02-13 00:41:10 You are free to do WHATEVER YOU WANT with your money and the state has NO BUSINESS interfering with this fundamental right

This is one of Bitcoin's main value proposition.

Your money is your money and you can do whatever you want with it. Same goes with any other of your private property, for example your TV or your coffee table. If you want to exchange your bottle of water for an apple with someone else, who is anyone to say that you can't?

You might be wondering...

What if you want to do something illegal with your money? For example: hiring a hitman to kill an innocent person?

Then this is how it should be:

You hire a hitman. Someone finds out. You get punished (you go to jail or you get killed in revenge by a victim's family member).

This is how it should NOT be:

You ask the state permission to spend your money. You demonstrate to the state with paperwork that you're not going to use this money for illegal purposes. Then you go ahead and hire the hitman anyway using cash or any other method.

See the difference?

Let me give you another example:

Imagine the state wants to reduce rape cases. In order to do that, they pass a bill stating that going forward every time two persons want to engage in a sexual relationship they need to fill out a government form stating that they both consent to this act. If you have sex without filling out this form, you're commiting a crime.

Do you see how ridiculous this is?

This is exactly what they do with your money whenever you want to send a wire transfer of $20k to someone else. You need to "ask permission" first.

Please stop simping for the governmet to make bitcoin legal tender. The entire point of bitcoin is that we don't need government's permission to use our money.

https://redd.it/110pal3
@r_bitcoin
24 views21:41
Open / Comment
2023-02-12 23:40:47 Monopoly Rules: The Bank Never "Goes Broke". If the banker runs out of money, they may issue as much as needed by writing on a piece of ordinary paper

Pricing the US Dollar in terms of infinite Monopoly cash is a JOKE.

If someone offered you literal Monopoly money for anything, you'd laugh in their face. Yet, ironically, what the rules of Monopoly state are essentially EXACTLY what happens with USD as needed. I downloaded and highlighted the official rules from Hasbro.

Pricing finite bitcoin in terms of exponentially infinite USD is equally as much of a joke as someone offering to pay you in Monopoly money.

Once you realize, from a fundamental supply perspective, there's literally no difference between USD and official Monopoly money, you'll rush to store your value in something else.

Regardless of the amount, I'd get off having zero Bitcoin.

Your choice. Everyone will get it at the price they deserve.

https://redd.it/110jz0x
@r_bitcoin
29 views20:40
Open / Comment
2023-02-12 22:40:37 Bitcoin is the Best Unit of Account (2014) -- 2 minute bitcoin
https://2minutebitcoin.org/blog/bitcoin-is-the-best-unit-of-account

https://redd.it/110k6bg
@r_bitcoin
31 views19:40
Open / Comment
2023-02-12 21:40:43 House Republicans Demand Answers From SEC Over FTX Co-Founder's Arrest – Bitcoin News
https://news.bitcoin.com/house-republicans-demand-answers-from-sec-over-ftx-co-founders-arrest/

https://redd.it/110krgq
@r_bitcoin
33 views18:40
Open / Comment
2023-02-12 20:37:25 I actually ask venders if they take BTC just so I can do my bit.

I feel like if I get venders to consider it then we've gained another transaction to the cause. Some times its about reaching those that aren't fully grasping it.

https://redd.it/110chdv
@r_bitcoin
37 views17:37
Open / Comment
2023-02-12 19:40:02
Bitcoin street art spotted in Paris
https://redd.it/110hwhu
@r_bitcoin
39 views16:40
Open / Comment
2023-02-12 18:41:48
My funds from Binance are missing. There are no withdrawal transactions from the account. I contacted binance support, the police, Interpol -What do I do? Binance say:”contact the police”.
https://redd.it/110gjdl
@r_bitcoin
46 views15:41
Open / Comment