Reddit Roundup – June 2020

Ladies and gentlemen, we bring you the first ever edition of Reddit Roundup by Nik and Flip of Bitcoin Magazine!

This contains 50 links to most of the best quality content that was uploaded to Reddit for this month. Most links come from the popular r/bitcoin, but we also retrieved posts from other one as well such as r/BitcoinMining.

In this roundup there are 10 different categories each link falls under, and the categories are: Privacy, Adoption, Development, Security, Mining, Business, Education, Regulation & Politics, Archaeology (Financial Incumbents), and last but not least Memes, Fun, And Other.

While the price was absolutely stagnant this month, the infrastructure building was moving faster than ever. We saw insanely bullish events happen in terms of potential adoption, such as Portugues children learning about Bitcoin in class as well as Venzualeans being able to pay for their passports in BTC. Little by little Bitcoin adoption is coming full circle and it’s a beautiful thing to see unfold in real time. Mixed in with all the recent events of the past six months, Bitcoin seems perfectly poised for a massive increase in users.

An increase in adoption seems to come hand in hand with an increase in development, and that has certainly been the case this month. Two key highlights from this month saw institutional interest in Bitcoin moon as well as some of the top Lightning Network developers sit down together and talk about their current projects. The nonstop innovation this space sees is like nothing else; it’s exactly like watching the brand new internet start up in the mid to late 90’s and early 2000s. In real time things can seem slow but overtime they happen extraordinarily fast. It reminds me of the quote by Bill Gates who said “most people overestimate what they can do in a year and underestimate what they can do in ten years”.

Ending off this quick summary we look at some of the protagonists of the legacy financial system flip flop and end up bending the knee to Bitcoin. Shark Tank billionaire Mark Cuban has been very vocal on Twitter about his disinterest in Bitcoin, then decides to backtrack and gives advice recommending people to “put 10% of their money into Bitcoin”. How ironic considering all the hate he gave the new asset class on social media, but it doesn’t stop there. It was revealed this month that US president Donald Trump has ordered Steve Mnuchin to “go after Bitcoin” to try and destroy or stop it in any way possible. Unfortunately for orange man, orange coin has an impenetrable defense of nodes and miners alive and well globally.

So without any further or due, here is the round up for this past month, enjoy!

A Recap of Bitcoin In June 2020

Privacy

BlueWallet bringing cash and p2p buys with no-KYC to all its users : Bitcoin (6/23)

Privacy-o-meter — a free tool to assess the privacy level of your BTC transactions. (6/25)

Privacy-o-meter is the first step to defend yourself against heuristics blockchain surveillance companies use. : BitcoinMining (6/25)

Wasabi Wallet Donates 1 BTC to Defend Privacy in Bitcoin – Bitcoin (6/28)

Adoption

An increasing number of people trust Bitcoin over big banks, says survey : Bitcoin (6/15)

Portuguese kids aged 6-7 learning about Bitcoin in public education system : Bitcoin (6/17)

Bitcoin is > 80% of the worldwide search interest – Cryptocurrency World Map : Bitcoin (6/15)

Singapore ride-sharing app lets customers pay with Bitcoin. : Bitcoin (6/18)

Land Rover celebrated 50 years, and in a memorial video he also mentions the creation of BTC network : Bitcoin (6/19)

The Perfect Time to Buy Bitcoin is Always Now : Bitcoin (6/20)

The PayPal and Venmo news, broken down and analyzed. It’s bigger than you think : Bitcoin (6/23)

Venezuela government is officially taking bitcoin as payment for passports. : Bitcoin (6/24)

Last week 511 BTC were traded in Venezuela using LocalBitcoin (up from 475 BTC), buying BTC with FIAT and selling BTC for FIAT. 511 BTC are 959,197,000,000 Bs. (Bolivares). One BTC is around 1,970,000,000 Bs. Monthly minimum wage is 5 USD (50,000 satoshis) : Bitcoin (6/24)

The Australian Postal Service is Starting to Adopt Bitcoin, and Why This Matters : Bitcoin (6/29)

Development

Who Funds Bitcoin Development? BitMEX Research 28 Mar 2020 : Bitcoin (6/17)

Less than 20% of BTC is actively traded. Bitcoin isn’t a short-term “get rich quick” play, it’s a long-term “protect your wealth” play. : Bitcoin (6/19)

Number of Bitcoin ‘Whales’ Has Risen by 2% Since Halving – CoinDesk : BitcoinMining (6/20)

Bitcoin Wallet Tracker v0.1.4 is released: Improved mempool tracking, out-of-the-box pruning support, and more! : Bitcoin (6/22)

Bybit Launches Fiat Onramp as Bitcoin Institutional Interest Skyrockets : Bitcoin (6/23)

Fun with Bitcoin: LightningNode roundtable: Hack Sprint Edition : Bitcoin (6/25)

Security

Look how silly this seems now compared to Bitcoin’s security : Bitcoin (6/16)

Mining

Bitcoin mining pushing technology to physical limits : Bitcoin (6/17)

Bitcoin Mining Difficulty Posts Biggest Jump In 29 Months : BitcoinMining (6/17)

Bitcoin Mining Explained : BitcoinMining (6/13)

Make sure your GPUs are ready for the summer : BitcoinMining (6/17)

China is losing its dominance over Bitcoin mining industry: report : BitcoinMining (6/11)

Business

Ledger and Nomura launch institutional-grade Bitcoin custody service : Bitcoin (6/17)

Education

Why Not Just Print More Money? : Bitcoin (6/17)

“No generation has a right to contract debts greater than can be paid off during the course of its own existence.” George Washington to James Madison 1789 : Bitcoin (6/17)

12 Reasons to Buy BTC! : Bitcoin (6/18)

The end of money as we know it … very informative documentary : Bitcoin (6/17)

Bitcoin’s price has outperformed gold by 100% this year : Bitcoin (6/24)

South African banking on Bitcoin : Bitcoin (6/25)

Governments Can Not Kill Bitcoin, and if They Tried, It Would Only Make Bitcoin Stronger : Bitcoin (6/28)

The Key Point on Bitcoin Scarcity That Few People Understand Today : Bitcoin (6/28)