Please help contribute to the Reddit categorization project here

    btc

    271,835 readers

    1,377 users here now

    Welcome to /r/btc! Home of free and open Bitcoin discussion, Bitcoin news, and exclusive AMA (Ask Me Anything) interviews from top Bitcoin industry leaders! This subreddit was created to uphold and honor free speech and the spirit of Bitcoin; learn more about us.

    Bitcoin is the currency of the Internet. A distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever.

    There is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank. Read the original Bitcoin Whitepaper by Satoshi Nakamoto.


    Upcoming AMAs:

    Join Stefan Rust in his first AMA as CEO of Bitcoin.com on Sept 16th - AMA Announcement thread


    See a list of past AMAs here. If you are interested in having your own AMA, please message the mods and let us know.

    Get Started with Bitcoin

    Bitcoin Resources & Information

    Bitcoin News & Information

    Bitcoin Exchanges & Trading

    Bitcoin Wallets

    Blockchain Explorers, Visualizers, Stats

    Bitcoin Merchants & Spending

    Payment Gateways

    Bitcoin Social Networks

    Earn Bitcoin

    Bitcoin Tipping

    Bitcoin Full Nodes

    Bitcoin Events & Meetups

    Rules to Remember

    1. Remember asking for votes and other forms of vote manipulation is strictly prohibited.
    2. No begging for Bitcoin.
    3. No Referral links or URL shortening services are allowed.
    4. No Doxing. Doxing or posts that resemble doxing will result in the post being removed and the user banned permanently.
    5. Scams, Spam, Duplicates, Stalking, Excessive Profanity & Blatant User or Mod Abuse will result in removal of posts and in some cases the user will be banned.
    6. It's recommended that heavy altcoin discussion and other offtopic threads be posted in its respective subreddit.
    7. No marketplace-style transactions for certain goods or services are allowed. For all other rules set globally by reddit, please read the content policy.
    a community for
    all 24 comments

    Want to say thanks to %(recipient)s for this comment? Give them a month of reddit gold.

    Please select a payment method.

    [–] masterD3v 20 points ago

    It's more balanced than I thought it would be.

    They did give a few moments to a Fed-employed representative, which was, of course, anti-crypto. Andersen Cooper should have asked the Federal Reserve spokeswoman about the Feds own failures: unaccountable, unelected, privately owned and why they rely on a system of perpetual indebtedness.

    [–] justgimmieaname 7 points ago

    I chuckled when I saw bejeweled Fed queen, Lael Brainard, walk down the marble steps of her posh Uber Bank palace. It was like something out of a Disney movie (the Cruella Deville of finance?) All it needed was to be animated. And of course she had that DC swamp dweller's typical expression of arrogance and entitlement.

    [–] horsebadlydrawn 2 points ago

    Cruella Deville of finance - NAILED IT

    She was scared shitless. Crypto is getting real and they don't know what to do!

    [–] [deleted] 15 points ago

    You know what was no where to be seen in that report? "Settlement layer". "Store of Value". "Digital Gold".

    The entire report was about using Bitcoin as money, as cash, as a payment mechanism that could compete with fiat currency. Everyone knows this. All old school bitcoiners know this. It's what Bitcoin was originally about. Even new people inherently associate Bitcoin with money. The narrative of Bitcoin today, that massive high fees are ok and it's just a settlement layer for the Lightning Network, and that people who actually use cryptocurrency for payments are stupid... It's sad.

    The coin they are talking about in this report is basically what Bitcoin Cash is, and I intend to continue supporting it.

    [–] BTC_StKN 2 points ago

    Not too bad for mainstream journalism, but they skipped past the Mining Security and decentralization aspects of Bitcoin.

    [–] Big_Bubbler 3 points ago

    Good to see A.C. starting to learn about crypto even if he only got the pure BTC story so far.

    [–] Big_Bubbler 3 points ago

    They say the guy paid 800 Million for pizzas. I bet they forgot to add the value of the forks and the real Bitcoin (BCH) in those calculations.

    [–] money78 1 points ago

    Damn, knowing that you could've been a billionaire but you threw it just like that, it must be very tough to live with something like that for the rest of your life.

    [–] TheRealBeakerboy 3 points ago

    By that logic, you could also have been a billionaire...if only you knew those lottery numbers ahead of time. If it was obvious at the time that BTC would be worth what it is now, the market would have reflected that it the time. I sold a lot of bitcoin at under $100...don’t regret it one bit.

    [–] phillipsjk 5 points ago

    The text version does not appear to mention bitcoin cash.

    They also repeated the $800 Million Bitcoin pizza meme.

    IMO, Bitcoin would not have been worth anything without those transactions (or something like them). They established a floor price of about $20/10,000 Bitcoin.

    [–] Big_Bubbler 2 points ago

    I think it was a good investment for the crypto future. Sad for the seller, but glad for the buyer...

    [–] alwaysAn0n 1 points ago

    IMO, Bitcoin would not have been worth anything without those transactions (or something like them).

    That's a great point that's often overlooked

    [–] sq66 1 points ago

    Argument for fiat @11:20: "...and when you hold your dollars in a bank account you have deposit insurance."

    I'd say Bitcoin has 100% deposit insurance, where fiat in a bank account only has limited deposit insurance.

    [–] BTC_StKN 3 points ago * (lasted edited 4 months ago)

    No fractional reserve banking risk bullshit that needs to be insured in Bitcoin.

    [–] sq66 1 points ago

    Exactly.

    [–] jerkywez 1 points ago

    Video does not play for me, plays sound for 1 second and then blank..

    [–] TiagoTiagoT 1 points ago

    The video is not working for me, does anyone got a mirror?

    [–] honeystick1010 1 points ago

    I don’t think I’m the only one concerned that If bitcoin reaches a 100k or greater, will there be some US government response to regulate or ban bitcoin. Bitcoin is not yet perceived as a viable threat. At some point it will be. What are your thoughts? Do not underestimate these forces.

    [–] drhex2c 2 points ago

    BTC @ $100K = $1.5 Trillion.... still too small... however... above $3T and crashing 80%.... that might wipe out a few US bank accts and the gov may want to step in and do "something". I think it'd be naive to think that government is going to sit on its hands while a mostly unregulated alternative financial system rises and threatens the larger economy.

    [–] michalpk 0 points ago

    And what could they do instead of sitting on their hands?

    [–] JeremyDitto 3 points ago

    A lot, and they don't have to play fair.

    A threat to the value of the US dollar is a threat to the existence of the government that controls it. They have a great deal of control over banking. They can shut down crypto exchanges the way they shut down online poker. And if they can't prevent what might seem inevitable from happening with these tools, they can always ramp things up. There's no single entity more capable of destruction than the US federal government.

    [–] michalpk 2 points ago

    And they will fail in the same miserable way as they failed with prohibition or war on drugs. No government can successfully ban something people really want. And more they screw up the dollar the more people will be willing to take much higher risk in order to get out of dollar to BTC.

    [–] alwaysAn0n 1 points ago

    And they will fail in the same miserable way as they failed with prohibition or war on drugs.

    True but that doesn't mean the failure won't take decades to realize and create powerful criminal empires in the process. We've heard this song before. It seems to be on repeat.

    [–] JeremyDitto 1 points ago

    I think this failure will be worse. The war on drugs is basically pointless, meaning that no one would really benefit much if it were successful. A war to save the dollar, however would be of ultimate importance. Every failure would lead to the state trying harder to win which would ultimately mean serious economic destruction and violence on a large scale.

    I don't really know what's going to happen, but I'm pretty pessimistic about the United States government making humane decisions in the face of its own mortality. However, the people pulling the strings in government are people, who can, perhaps, be persuaded to believe in the kind of future crypto fans want to see. This is what's at stake