Hi All. Apologies if this is a dumb question as I'm fairly new to Bitcoin and wanted to thoroughly understand it before deciding whether to purchase any or not. I read a lot of pieces about how Bitcoin is inflation proof as there are a finite number of Bitcoins. I understand this from a perspective of inflation can't happen due to more Bitcoins being printed (like happens with fiat currencies) but what about inflation due to global events? For example the Russia Ukraine war saw gas and oil price inflation due to lowered product supply. How would transacting in Bitcoin alleviate that source of inflation?

700 BTC for one album in 2014.

In crypto's realm, a strategy's might,

Bitcoin DCA, shining bright.

Buy every week, without a fight,

Dollar-cost averaging, day and night.

.

Buy the dip, with courage bold,

Your portfolio's future, to unfold.

You guys still have money, don't grow cold,

Invest wisely, young hearts, don't grow old.

.

Weekly buys, through market's sway,

Discipline key, come what may.

Bitcoin's rise, or fall, you'll stay,

Long-term gains, your guiding way.

.

So DCA on, through dip and peak,

Your financial future, unique.

You guys still holding money meek?

Invest in Bitcoin, your wealth to seek!

.

.

Guideline to meta a.i.

Create a poem containing:

Bitcoin

Dca

Buy every week

Buy the dip

You guys still have Money?

Yes, there is. Mathematically undeniable.

No, it won't happen. here's why:

Intro:

Every now and then we stumble upon a reddit post in r/Bitcoin in which someone asks for the chances of someone else randomly generating the same wallet as theirs, or any variation of this topic.
I know mine it won't be a once and for all post that forever settles the debate, but allow me to try to give you my perspective and convince you that humans are bad at big numbers:

A few facts (as of today):

-24 word bip39 seed has a total of 2,9*10^79 unique addresses (from now on referred to as the seed space)
-Age of the universe is 1,37*10^10 years
-Bitcoin network total hash-rate is 7,8*10^20 hash per second or better 2,45*10^28 hash per year (from now on referred to as the bitcoin supercomputer)

Experiment number 1:

now, lets calculate how many lifetimes of the universe it would take for 1Million bitcoin supercomputers to go through 0,000000000000000001% (or 10^-20) of the total seed space:

2,9*10^79 * 10^-20 / (1,37*10^10 * 10^6 * 2,45*10^28) = 8,6 *10^14 universes lifetimes :)

so basically, if every person who ever lived (~100Billion people) each produced 1 Billion wallets in their lifetime (meaning 1 wallet each 3 seconds for their 100 years lifetime) we would end up with 10^20 unique wallets, and it would take ~ 800'000'000'000'000 (8*10^14) times the life of the universe, using 1M bitcoin supercomputers to have 1 on 290'000'000'000'000'000'000'000'000'000'000'000'000'000'000'000'000'000'000'000 (1 in 2,9*10^59) chances to get a collision. give it or take.

for comparison, if earth were the only planet in the universe to host life, the chance of life in our universe would be 1 in ~2*10^23. Now picture that life in the universe would still be ~500'000'000'000'000'000'000'000'000'000'000'000 times more likely than the scenario depicted above.

Hopefully this gave you perspective on how bad we are at grasping the magnitude of big numbers, but if it didn't, here's a game i like to play.

Experiment number 2:

Again, 24 words bip39 seed has a total of 2,9*10^79 unique addresses, while the observable universe has roughly between 10^(78) and 10^(82) atoms. Lets then say we consider the two numbers to be equal.

Now, here's the game:
I pick a random atom in the whole observable universe and then ask you to do the same. you win big time (i give you 1Billion $) if you can pick the same exact atom, if you can't you give me 100$. This might already give you an idea of the magnitude, but if you're not convinced and want to play nonetheless, I'll even allow you to continue picking atoms until you make it, does that seem fair to you?
So your chance now depends on how many attempts you can make per second and how likely you want to be to be correct. Lets say that you want to have 50% chance of picking my atom, then you'd need to go through 50% of the possibilities, that are (2.96/2)*10^(79,) roughly 1,48*10^(79.) Not very different i am afraid.

One of the best supercomputers out there is the bitcoin network, so now I even allow you to rely on that to make our atom picking faster, it can perform 7,8*10^(20) operations per second, therefore--> 1.48*10^(79) / 7,8*10^(20) = 1,89*10^(58) seconds would be required for you to pick half of the universe's atoms, roughly 6*10^(50) years, 6*10^(41) billion years or 4,6*10^(40) times the age of the universe.
All this time, with the most powerful computer network known to mankind, just to have a 50% chance. Now, imagine you had 1000 billions earth-like planets at your disposal, each with a bitcoin network super computer, and 1000 billions universes each with 1000 billions earth-like planet each with its own bitcoin computer, each searching for the same wallet (I mean atom! sorry), it would still take 6*10^(27) billion years to, again, have a toss of a coin chances to get it right, so I want to be even more fair to you, and instead of 1 atom, i pick the equivalent of 100Billion people, each picking 1Billion atoms, therefore 10^20 wallets (atoms!), and you win if you can pick any of those.. it would still require 6*10^7 Billion years!

Would you still play with me?

(btw, there are only ~55Million addresses with balance in existence as of today)

tl;dr: the chance is virtually 0 in any universe, however you look at it, whatever you have at your disposal to perform the task.

So i'm wondering what will happen when HODLERS sell their bitcoin and cash out?there will be loads of supply, price will dip

like the title says. I don't understand this narrative

"I don't believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can't take it violently out of the hands of government, all we can do is by some sly roundabout way introduce something that they can't stop".

Friedrich Hayek in 1984

Is there an exchange or service which let you buy bitcoin from an incoming direct deposit?

For instance I receive payments directly from EBay or Amazon or similar via Direct deposit. I’d like to buy bitcoins with them without passing through a traditional bank service.

My aunt and I are both into stocks, and recently I tried to tell her about bitcoin. I told her how it works and whenever she had a question that I couldn’t answer myself, we looked it up and got one. The one thing that stopped her from buying in is the fact that the creator is unknown and they “could always make more”. I tried explaining that each coin has its own identifier and can be verified on the blockchain. Her response was why can’t the creator just change the code and allow more? Every thing has code and the creator would know how to change it. What would I tell her to make her confident that bitcoins cannot be duplicated or go over the 21 million or whatever it is?

Hello, I'm looking for a reputable service who would take an ACH transfer (if based in the US) or a wire transfer (if based elsewhere in the world) that would forward half of the amount in BTC to a given address I control and the other half to a bank account also under my control. Better yet if the splitting portions could be configurable.

Example: Suppose I do some contract work and will get payed 10k USD for it, I give my customer XYZ banking details, on my XYZ account I have set a BTC address and a bank account, 5k USD get exchanged automatically to BTC and transferred to me, the other 5k USD are just forwarded to my bank account (possibly via an international transfer SWIFT or whatever).

does such a service exists?

Messing around in Midjourny

Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!

If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

Please check the previous discussion thread for unanswered questions.

Is there any point now or have I missed the train? I’ll just put it all in and keep on doing so if it’s worth it

I hope he's joking😂

Can someone please tell me an exchange with little to no fees to dca bitcoin every week and have it draw directly out of my bank account instead of me having to deposit money manually every single time. I want it to just happen and I’ll forget about it for a long time and never have to check it.

I want to beat Michael Saylor at his own game and moon for you guys! Is the extra BTC counterfeit then??