Bitcoin Forum

Inflation has only shown signs of being "sticky" not signs of going down.
For it to go down the chaos in the world has to calm down, energy prices have to come down, the supply chain disruptions have to stop, etc. then we can start seeing inflation start coming down and then we can see them lower the rates. None of it is happening yet though.

So you are saying that the economy (inflation + recession) in the rest of the world is fine and it is only US economy that is affected by these things?!
Shall we take a look at G7 countries in 2023?

Country	|	Inflation rate	|	Interest rate
USA	|	4.1%	|	5.33%
Canada	|	3.8%	|	7.2%
UK	|	5.2%	|	5.25%
France	|	5.7%	|	3.5%
Germany	|	5.9%	|	3.5%
Italy	|	5.9%	|	5.0%
Japan	|	3.27%	|	0.1%

The only deviance is Japan and Canadian interest rate but the rest are pretty much the same.
Things are worse in smaller economies. This is why Bitcoin is affected, because the economic crisis is a global event not a local thing limited to US economy.

Whether the market reacts to a news like the US CPI is a different matter that doesn't mean there is a "connection". It's just weak hands panicking/FOMOing after reading something in the news.

Have you ever thought about this, what we are trying to achieve in our personal financial life is completely diverge from what the government expects their citizens to do.

We as Individuals always thrive to achieve financial independence in our lives especially someone who is from the average middle person but what the government expects from the middle class is different and is kind of surprising when we give deep thought about it, The Government highly relies on the middle-class tax payers for the money and most of the taxes collected in the form of indirect taxes so that people may not actually aware that they are paying taxes for everything from their salary, fuel, medicine, anything everything has taxes that eat most our earnings.

So as a result we are paying from 10% to over 50% of our earnings just in the form of taxes in one or another way. So one who really wants to achieve financial independence should find a way to reduce their tax pay legally like how the businessmen do.

Or like the bald guy says, we need to find a way to exit the Matrix. :D

I doubt they would go through this trouble.  I do not even know yet.  Are ETFs actually legitimately backed by Bitcoin or not?

Even Exchanges barely go through the trouble of sharing Forked Coins with the customers.  Besides the known Bitcoin Forks, I imagine there are hundreds if not thousands more that we did not care about.  If they take this route, they would need to do the same for every single Fork that pops up.  Right?

By investing in an ETF you do not get a Bitcoin Address of yours.  An On Chain Transaction never happens.  It is close to what PayPal used to do back when they added Bitcoin to their Service for the first time.  You buy or sell Bitcoin, but only on paper.  I would be in fact surprised if they announce ETF share holders will be eligible for claiming Forked rewards.

But.  Expect something like this to become the new trend of Scams all over the internet some day.

As big capital management companies, they will think of safety for capital they are managed, not profit first. Because profit can be gained later when chaos ends and risk is smaller, they can find new opportunities to get profit. If they lose capital of their customers, they will go bankrupted and go into jails.

ETF companies don't own private keys and they will have to depend on their partners, the custodians like Coinbase, to claim forked coins. If Coinbase support, I believe they will do, fork claims, ETF companies will not lose anything.

The 2017 hard fork create Bitcoin and Bitcoin Cash, but we see the main chain, Bitcoin continues to grow, higher and higher in hash rate and price. Bitcoin Cash, the forked coin is like a bonus.

ETF investors depend on ETF companies which in turn depend on their third-party partners, custodians for example Coinbase. It is like chain of risk from customers to ETF companies to Custodian service providers.

Rodarmor is the inventor of Ordinals.

Ordinals is a protocol for enumerating satoshis and maintaining that enumeration while accounting for transactions and fee payment. The enumeration is arbitrary. Anyone can come up with an enumeration. However, Ordinals will always dominate because it was first and it works well.

Enumerating the satoshis makes each one distinguishable from all of the others. Thus, using the Ordinals protocol, a satoshi can be treated as a non-fungible token (NFT).

With Ordinals, all satoshis are equally rare -- there is only one of each. However, they can be classified according to Rodarmor' classification system, as well as others, in order to introduce ways to establish rarity. These classifications are arbitrary. It's up to you to consider whether some satoshis are more valuable than others according to the classifications you subscribe to.

In my opinion, Ordinals is harmless as long as there is no significant number of people who take it seriously. Otherwise, the fungibility of Bitcoin could become an issue.


Rodarmor also developed a related protocol called Inscriptions that associates data (such as text or an image) embedded in the block chain with an Ordinals satoshi.

I am not as familiar with Runes. If I understand it correctly, it is not related to Ordinals. Instead, it is a token protocol that stores data in Bitcoin transactions via OP_RETURN. It might be interesting to compare it to CounterParty and Omni.

I had earlier made a similar thread as this regarding the effect of  stories of huge wins and and jackpot have had on gambling habit and from what I read in the replies, it's clear that people ar easily influenced by these kinds of stories which to some extent affect thier gambling style and course an increase in the allocation that they would normally assign to gambling since they would in most cases want to win big. Here is the link to the main thread if you want to go through it and possibly learn from the replies.
https://bitcointalk.org/index.php?topic=5497144.msg64102378#msg64102378

But let me now talk from a first person point of view.  A friend once sent me a sport betting code and instructed me to play it but I was just reluctant to doing so, fast forward to the end of the day when the game finally played out as he predicted and he won his bet, I was a bit uneasy and felt disappointed that I didn't play the game and the fact that he has won, th next weekend I had to go on to playing a game I would have nit stacked on a normal day. The truth is that you can't really control yourself that much when you're seeing others winning big or when you've read stories of people that are doing what you're doing and have currently hit it big. You will get tempted to try your luck and maybe increase your bet and before you know it, you've gone into irresponsible Gambling.

Apart from getting motivation from stories of some one that I know, i can't rely on what I see on the Internet as a motivation to increasing my gambling style or going too aggressive in my gambling. Not on this internet sphare were the more you look at things, the less you see the real truth and anyone can easily design a slip that shows they've won big even when in reality they haven't won anything that's close to that.

The APR usually comes from trading fees and also the DEX that is trying to attract liquidity will incentivize users by offering their native token as a reward for staking in certain pools. Trading fees are usually not that high, unless the price is really volatile you will see a higher APR for a few days but it is misleading because you won’t earn that percentage in a year, you will only earn it if volatility, demand, and liquidity remain exactly the same.

As for token rewards, the exchanges are basically printing their own money. When they first launch their token, emissions will be high to make their APR look attractive, but this has the side effect of causing hyperinflation so the token’s value will go down and the APR will go down along with it. To combat this, the developers will come up with different mechanisms to make their token deflationary and pump the price back up.

The printing their own money aspect does look like a scam, but to be fair, some newer DEXs have tried to create governance models which give their token lasting value rather than being just a get rich quick shitcoin.

Yes, every input in a transaction matters. The more the number of inputs you add to your transaction, the more the size becomes bigger. Let me make an illustration for you:
Let's say our basis for inputs and output are native segwit(version 0) since you received your coins from signature, the transaction input is 68 vbyte and 31 vbytes for output.

If you are spending:
1 input and 1 output will give you 109.5 vbytes transaction.
2 inputs and 1 output will give you 177.25 vbytes transaction.
5 inputs and 1 output will give you 380.5 vbytes transaction.
More input and 1 input will give you bigger vbytes transaction consequently.

Now, imagine having 10 or even 15 inputs for a single transaction, you will have to pay more fees for every vbytes for that transaction. More inputs, more fees.

You can check this thread (https://bitcointalk.org/index.php?topic=5370591.0) by Charles-Tim for more understanding.

However, with coin control, if you have much inputs and you want to spend only few Bitcoin, let's say you have $300 worth in total balance and you want to spend $100, you can just add few inputs that can give you equivalent $100 or more to spend and get back a change if there is from your transaction.


Speed of transactions has nothing to do with your inputs, if you want a faster transactions, you have to pay an optimal fee to get your transaction included in the next block.

Privacy comes when you spend inputs together.

The memory is characterized by high write speed and extremely high write retention, capable of withstanding one million billion read/write cycles. It seems to me that with a full flash drive capacity of 8kb, ultra-high write speeds will not be needed at all. :) And also, you won’t rewrite the seed phrase one million billion times (x10²¹). :)

Blaustahl USB really looks very interesting for storing seed phrases, considering that the device has a built-in text editor, accessible via PuTTY и Tera Term, the memory capacity is enough for this, and the device has a long resource for reliability and durability.

I am confused by the stated service life of the device of 200 years. About CD also claimed that data on them could be stored for up to 60 years, but as practice has shown, after a couple of years the data became unreadable. Even if the creators of Blaustahl USB made a 10-fold mistake, the device’s service life will still be an impressive 20 years. By then, technology will surely advance and more advanced devices will appear.

Not the cheapest alternative to flash drives for ~€30, but the declared reliability is captivating (together with encryption).

3.5 "HDDs have low write / read speeds, which is reflected in their “slowness”. And also, HDDs are inferior in overall dimensions, in other words, it bulky compared to flash drives. And don’t forget about the HDD’s sensitivity to shaking (due to the small gap between the physical disk and the read head), not to mention shocks and falls.

There are Bitcoin full nodes and pruned nodes. What you are talking about is Bitcoin full node that will download and store the whole blockchain data on your computer. Fortunately, there are Bitcoin pruned nodes which can be customized personally with any storage size you want depends on your available free data space on your computer disk.

Pros and Cons of Bitcoin Node types (Full node and Prune node) (https://bitcointalk.org/index.php?topic=5213552.0)
Node types and roles (https://learnmeabitcoin.com/technical/networking/node/)
https://learnmeabitcoin.com/technical/networking/node/

If you are curious, check the live map for Bitcoin nodes.

• https://bitnodes.io/

Bitcoin has a decentralized network from geolocation decentralization of miners and nodes. It's nearly impossible that all miners and all node operators will shut down their operations.

India forum (https://bitcointalk.org/index.php?board=89.0) does not have enough activity to get a dedicated merit source now. People in India forum speaks in English and if they may make merit-worthy post, global merit sources can easily cover it.

By the way, Heisenberg_Hunter (https://bitcointalk.org/index.php?action=profile;u=1564795)'s application to be a merit source for India forum was already granted. No?

Heisenberg's Merit Source Application for the Indian Board (https://bitcointalk.org/index.php?topic=5156799.0)

He has been inactive for long. Check his merit spending and posting history.

I'm not a merit source,
.
.
Hence, I have retired from the position  :)

If English is the spoke language there, then where do people post Hindi? I thought that was the main language over there?

India forum (https://bitcointalk.org/index.php?board=89.0) does not have enough activity to get a dedicated merit source now. People in India forum speaks in English and if they may make merit-worthy post, global merit sources can easily cover it.

Has sent 449 merit 357 times, to 222 profiles ( 2.0 merit/profile)
Has earned 726 merit 483 times, from 175 profiles

By the way, Heisenberg_Hunter (https://bitcointalk.org/index.php?action=profile;u=1564795)'s application to be a merit source for India forum was already granted. No?

Heisenberg's Merit Source Application for the Indian Board (https://bitcointalk.org/index.php?topic=5156799.0)

As for the recurring theme of why I did not take posts from the Indian section, the simple reason is because in the last 2months there has been very little traction in that section. Having generic threads and discussion posts does not make those posts merit worthy, which is why I did not take any of those into the OP.

If you want to be a merit source:

 1. Be a somewhat established member.
 2. Collect TEN posts written in the last couple of months by other people that have not received nearly enough merit for how good they are, and post quotes for them all in a new Meta thread. The point of this is to demonstrate your ability to give out merit usefully.
 3. We will take a look at your history and maybe make you a source.

I am especially eager to have merit sources in sub-communities such as the local sections.

Good day my fellow bitcoin users, this would be my application for becoming a new merit source.

To be somewhat established? I guess I am.

• I didnt notice until another fellow member pointed out that it is going to be 8years in the coming month of July.
• Total time logged in: 123 days (Woohoo!)
• Have seen enough forum "stuff" that has made me mind my own business and usually forces me to run a one man army.

Most of you might not be aware but the Indian section is facing an acute crisis of merit influx. Hence would like take the reins and help out my fellow country users with the rank up they rightfully deserve.

@logfiles, there is no official mother tongue in India, we all have our own regional languages but English is spoken by most of us and hence we converse in that. This is both a boon and bane in the context of being in this forum.

I want to ask in this thread and for anyone, don't be too serious. Have you ever felt that it is very difficult to get merit and think something is wrong that is happening?

Most of you might not be aware but the Indian section is facing an acute crisis of merit influx. Hence would like take the reins and help out my fellow country users with the rank up they rightfully deserve.

Heisenberg_Hunter is not active lately, it's been over a month. His activity also dropped. He used to be having chat with me regularly but from long time he is not in contact with me. As a Merit source you need someone who is very active. At least spend a few hours a day.

I remember that someone PM me about Indian’s board merit problem , and until anew merit source chosen, you can quote links to the best 10 posts on a weekly or monthly basis and send them to me.

@Heisenberg_Hunter also announced that he is no longer a merit source that he asked theymos to remove from being a merit source voluntarily for whatever reason.

As for the recurring theme of why I did not take posts from the Indian section, the simple reason is because in the last 2months there has been very little traction in that section. Having generic threads and discussion posts does not make those posts merit worthy, which is why I did not take any of those into the OP.

NACK

India forum (https://bitcointalk.org/index.php?board=89.0) does not have enough activity to get a dedicated merit source now.

I support your application because I have seen you in several boards and your contribution is visible and appreciated.

I want to ask in this thread and for anyone, don't be too serious. Have you ever felt that it is very difficult to get merit and think something is wrong that is happening?

I've always seen you in a positive light, and you've been a member way longer than the typical merit source applicant so you'll definitely be a good judge of which posts are good and which are typical mediocre shitposting fare.  You got my support, brother.

Why edited the response out? Let people at Meta know what was happening behind. Who was threatening him for merit...

I feel he will get it! Everyone on the local Indian board is waiting for a new merit source as there is no one active. It would have been great if @Theymos could look into his application as he has been very active and has been always helping members of our local board. I see a former or I can say self-declared retired merit source awarding merit to his application but he or she will never come on the board and support us.

I feel he will get it! Everyone on the local Indian board is waiting for a new merit source as there is no one active.

Suggestion to everyone:  don't hoard your sMerits.  There are members making decent posts who need merits to rank up, and it's not just the merit sources who've got to play their parts.  This is a global forum with all types of people from all over the globe (except maybe Antarctica), but as far as the merit system is concerned we're all in this together.

Damn, I thought you were a merits source already.
Anyway a bump here with support from my side. :)

Good day my fellow bitcoin users, this would be my application for becoming a new merit source.

To be somewhat established? I guess I am.

• I didnt notice until another fellow member pointed out that it is going to be 8years in the coming month of July.
• Total time logged in: 123 days (Woohoo!)
• Have seen enough forum "stuff" that has made me mind my own business and usually forces me to run a one man army.

Most of you might not be aware but the Indian section is facing an acute crisis of merit influx. Hence would like take the reins and help out my fellow country users with the rank up they rightfully deserve.

Here is my collection of 10 posts which I believe are worthy of merits but have yet to receive any:

#1 April CPI eased to 3.4 from 3.5 in March, Reply number 12 by @pooya87


#2 Personal Financial Goals vs Government expectations! by @Findingnemo


#3 Bitcoin forks and ETFs, Reply number 2 by @PrivacyG


#4 Bitcoin forks and ETFs, Reply number 16 by @tbct_mt2


#5 Is Rodarmor Rarity Index a big thing? Reply number 6 by @odolvlobo


#6 Foolhardy bets. Reply number 13 by @Hewlet


#7 What’s with all these Ponzi type APR on Stablecoins? Reply number 2 by @FinneysTrueVision


#8 High Fees on Electrum? Normal? Reply number 12 by @Cookdata


#9 Bitcoin wallet vs pendrive or Memory card. Reply number 16 by @m2017


#10 Running a Bitcoin Nodes; My curiosity Reply number 11 by @tranthidung

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If you have read this far, thanks for bearing with me. The forum is not going to die, we will work to keep it active and fun! The first step in that is getting the local sections up and running and that is why I am willing to take on this responsibility! 8)

Thanks and peace to all!