Saturday, August 7, 2021

Subtipper has just tipped the top posts for this community! [05:04 GMT August 08, 2021]

Thanks to all posters for providing great content!

The top posts since the last payout (~1 week) have been tipped 1 US cent per vote, or 1747 sats per vote.

For an explanation of Subtipper and how it works, please see this article.

 

Winning posts:


“Friends call me Max. My farm is powered by Bitcoin Cash in Africa. I pay my workers with BCH & I accepts Bitcoin Cash for my farm produce. Bitcoin Cash is money. Even (poor) & unbanked farmers can use it BCH; turning their mobile wallets into their banks“ by u/Egon_1

[tip] - 752957 sats = 0.00752957 BCH = ~4.31 USD


Kim Dotcom: “Banks: We gamble with your money. The govt has access to your account. We support mass money printing devaluing your cash. We’re corrupt, slow, expensive and unlikable. Bitcoin Cash: You’re the bank. Goes up in value. Fast transactions. Almost no fees. Widely accepted. Freedom.” by u/Egon_1

[tip] - 431509 sats = 0.00431509 BCH = ~2.47 USD


Bitcoin Scaling Debate: Someone missed the last 6 years by u/Egon_1

[tip] - 354641 sats = 0.00354641 BCH = ~2.03 USD


“In Venezuela we have almost reached 1000 businesses that accept Bitcoin Cash” by u/Egon_1

[tip] - 281267 sats = 0.00281267 BCH = ~1.61 USD


BREAKING: BSV IS SUFFERING A BLOCK REORGANIZATION ATTACK by u/ShotBot

[tip] - 239339 sats = 0.00239339 BCH = ~1.37 USD


BTC Maxi poster boy Michael Saylor wants regulation left & right. Congrats maxis, you have been useful tools again and again 🤷‍♂️ by u/Egon_1

[tip] - 216628 sats = 0.00216628 BCH = ~1.24 USD


Thank you to the ElectronCash devs for keeping things logical! by u/ExperiencedAgent

[tip] - 202652 sats = 0.00202652 BCH = ~1.16 USD


Bitcoin SV Suffers Another 51% Attack by u/freekzraga

[tip] - 192170 sats = 0.00192170 BCH = ~1.10 USD


First fully bitcoinized town in Venezuela ditching dollars completely by u/Specialist-Artist462

[tip] - 165965 sats = 0.00165965 BCH = ~0.95 USD


Bitcoin Cash Acceptance is Pumping in North Queensland, New Merchant - The Mac Doctors by u/BitcoinCashCity

[tip] - 151989 sats = 0.00151989 BCH = ~0.87 USD


 

Tips not claimed within 7 days will be returned to the Subtipper fund and tipped out to future posts.

 

To support this bot, help spread Bitcoin Cash, and encourage great content in the r/btc community, tip this post using Chaintip by including u/chaintip in your comment!

Thanks!

Note: this payout event was triggered by block 699822, which was mined more than 3 days since the last event and has the last three hex digits of its hash (joined as a number) strictly smaller than 7. The BCH price at the time of activation was $572.41


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Don't fully understand what is going on with the US infrastructure bill everyone is talking about? I took a shot at an ELI5 for you.

A lot of people have been asking questions about this US bill that is being proposed this weekend in the US. Some have also asked for an ELI5. I took a shot at it below to explain it as simply as possible (TL;DR at bottom).

Hidden within the larger $1.2 trillion US infrastructure legation bill is a clause on crypto. This clause wants anyone who is providing any crypto service to record and report the value of the service and who received the service to the IRS (taxation institution in the US) so that they can tax them. This includes development, mining, defi, cefi, you name it.

This is obviously impossible due to the very decentralized nature of crypto, which then would make providing those crypto services illegal in the US.

On top of this the language is very confusing and makes no sense because some of it applies to Bitcoin but not ETH 2.0 for example. It just shows these US lawmakers have little understanding of crypto but are trying to regulate and tax it. There are already amendments (proposed adjustments) filed to help clear language around crypto tax up or even remove it completely.

Today, the senate debated the bill but was not able to reach a conclusion yet. On Sunday, the senate will reconvene again to resume consideration of the bill and vote. Ted Cruz said he filed a separate amendment to strike the whole thing, in the event a bipartisan deal can’t be reached.

Even if this bill passes the senate it still needs to pass the house as well, 2 separate chambers of legislation in the US, must pass both.

TL;DR: US lawmakers are trying to sneakingly pass overarching crypto taxation laws in a huge infrastructure bill but they have little idea what they are talking about and it's a mess so now a bunch of politicians are trying to debate and fix it.


Unpopular opinion. The only thing that recent events have proven..

..is that most of the player base is embarrassingly stupid.

Prices of water made no sense during the heat wave event. While all the other Hydration sources like Kvass, Juices, Sugar drinks didn't budge a ruble.

This event prices of the keys haven't even moved. 2+2=fish for the most of the players. Nobody noticed that they could put a lower price and get more money (thus the point of the event) due to how sharp the flee market now that base price for these items got lower. But no. We still have the same prices on cards and keys.. it's sad really.

Just like, in general, the selling of some Gunsmith parts for 50-150k for, like, a handle, while the same handle can get bartered at level 2 traders for 14k of items. The fact that bartered bitcoin costs more than the price of the items it's bartered for and stuff like that.

There is one thing not being good at the game, especially, such a hard one as Tarkov. There is whole other thing to not be able to do basic preschool math. The latter is quite embarrassing.


Reason BTC is pumping

…whatever law/amendment ends up passing today, all of them legitimize Bitcoin by the US Government (one of them is really bad but only for shitcoins/PoS, not for Bitcoin/PoW). I know there's plenty of anti-government people here, but for the masses, this is one of the most bullish events in Bitcoin's history. And yes, I'm still fighting against them and calling the Senators, due to the bad stuff included in the law proposals. Here's my post to fight and raise awareness: https://np.reddit.com/r/CryptoCurrency/comments/oz5iqm/this_cant_be_put_off_or_delayed_they_are_about_to/


The insanity of contrarian action in crypto markets.

I would just like to take a moment to point out how irrational are marketplaces are in the last few months.

A few months ago one of the biggest events in the last decade happened - a entire country decided to make a cryptocurrency legal tender (El Salvador and Bitcoin). This was literally the first step of the holy Grail - countries positioning themselves to finally add cryptocurrencies to their reserve asset basket.

Now this event is so monumentous that it should have sent the market into a fresh Bullrun skyrocketing in price. Instead it did the opposite. Not only did it not move the price upwards the market went down.

Now we have an opposite situation. The largest economic powerhouse country in the world is setting up legislation to make activities related to cryptocurrencies regulated in a way that makes it impossible for a normal person to contribute to the network. You have yellen and the US Treasury as well as the White House lobbying for the worst amendment that would make activities like staking equivalent to that of a financial broker.

And the market is rallying upwards.

I learned over 5 years ago that often in cryptocurrencies contrarians win. You would think that you could trade on news but you really can't. You never know when the market is going to go in the complete opposite direction in the face of all logic and rationality.

When this legislation gets passed is the market going to continue rallying? Or will people finally wake up and smell the coffee?

I know that this is a global system and that the United States does not represent the rest of the world. But it is a trend setter and the rest of the world is watching. Corrupt authoritarian regimes are looking for any way to stifle dissent and threats to their power structures. Crippling the security of a network that bypasses traditional financial systems is one way to do that. I'm just surprised it's not coming from the usual means - by using the fear of terrorism and child pornography. Instead it's just coming through typical overburdensome regulation.

I think I see where this is going. Promotion of CBDCs and overburdensome regulation of decentralized cryptocurrencies. Governments have learned that if you come out swinging with orwellian like actions you can have a Streisand effect. So instead they are going to slowly implant insidious regulation to cripple these networks while they in tandem build centralized highly controllable digital currencies.

That's about as tin-hatty as I can get. This probably is not some insidious plan concocted by the Illuminati.... It's most likely just naive uneducated politicians being corrupted by large financial interests. I think the bigger problem is money in politics and how these people are swayed.