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July 03, 2024, 01:29:14 AM *
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1  Bitcoin / Bitcoin Discussion / Re: Bitcoin isn't complicated but the fiat system is! on: June 28, 2024, 10:04:36 PM
I just want to show this to whoever says Bitcoin technology is too complicated for a common man and then ask them to explain this which they have been using day to day and whether any of 'em got any idea what is going on behind their preferred method Cheesy
Uhmm.. The Bitcoin and Fiat systems are both complicated; what makes people complain about the protocols in bitcoin is that they had to learn about the new system. Secondly, the decentralization makes everything under your own control.

The thing is, people don't need to know about the protocols in bitcoin just as most people don't need to know how a CPU, storage (HDD, SSD etc) or memory work.  They don't need to know about TCP/IP, SMTP, DNS, HTTPS, NTP or other internals of the internet work.  The protocols are/will be abstracted away with wallets, ETFs, exchanges and the like over time. 
2  Bitcoin / Press / Re: [2024-05-29] Crypto market to hit $200T within 10 years — Animoca co-founder on: June 28, 2024, 10:00:52 PM
It is possible.  Ten years ago plenty of people scoffed at $2000/bitcoin.  We'll have to check back in ten years and see.
I don’t have 10 years lolol!!!


I hopefully have many times that ten years! lol.   The ETF rollout in the US demonstrates that once people begin to see the benefits it snowballs.  Going from way less than $0.01 to $70k in 15 years shows this effect.
3  Bitcoin / Press / Re: [2024-06-20] ARGENTINA’S PRESIDENT PROMOTES BITCOIN AND CURRENCY COMPETITION on: June 28, 2024, 09:58:56 PM
The crazy thing is that there are people (and countries) who are against monetary freedom.  And they do it because they want to control the people by controlling the currency and being able to avail themselves of the (hidden to some) inflation tax on everyone in their control.  The people who do this are just sick control freaks who think they know better than every individual as to how to spend their lives.  It is the same mentality of the US Democrat slave owners.
4  Bitcoin / Press / Re: [2024-06-28] BITCOIN PRICE STABLE DESPITE MASSIVE BTC TRANSFERRED TO EXCHANGES on: June 28, 2024, 09:56:46 PM
The governments are being foolish.  El Salvador has the right idea. Both Germany and the US will spend the proceeds from selling in hours and then will have lost the chance to own at a reasonable price.
5  Bitcoin / Press / Re: [2024-06-25] Bitcoin Faces Market Decline on: June 28, 2024, 09:53:58 PM
Big whoop.
Don't need a clickbait ad to know BTC is volatile and doing what it always does - go up & down. Without a doubt it will soon hit a new ATH. A good discussion of that fact is here

Frankly, now is the time to BUY!.

Agreed.  It has been the time to buy for a very long time, but 1.8% is nothing.  And anyone "shifting" to other crypto is just being foolish if you care about security, pseudo anonymity, censorship resistance etc.  There are huge differences between bitcoin and other crypto and not acknowledging that is crazy.
6  Bitcoin / Press / Re: [2024-06-15] 56% of Fortune 500 Firms Pursue Crypto ... on: June 17, 2024, 01:33:16 AM
...only 26% of crypto developers are U.S.-based today,”....

When you have the potential for totalitarians arresting people for developing, it isn't surprising.  Trump must see the need for a pseudonymous, censorship resistant, distributed currency given the far-left extremists in the US shut down his ability to use PayPal or Stripe in 2021.  Plus all the rest of it.  If the president and billionaire isn't safe, no one is.
7  Bitcoin / Press / Re: [2024-06-14] Investors Withdraw Funds from Spot Bitcoin ETFs on: June 17, 2024, 01:30:26 AM
Bitcoin price volatility seems unending. BTC was below $67,000 while writing this article. Volatile movements also reflect on spot Bitcoin ETFs. One day sees significant inflows, another sees outflows. Price instability likely makes spot Bitcoin ETF investors pessimistic. We observed such pessimism yesterday. Let’s look at the details.

Read the full article here: https://en.coin-turk.com/investors-withdraw-funds-from-spot-bitcoin-etfs/

When you have people trading it, yes it is volatile.  As you have more and more people buying and holding, or buying to use, then volatility will decrease.  In percentage terms it seems to me (without doing any analysis) that seems to be happening.  Sure a $5000/bitcoin swing is a lot in monetary terms, but percentage-wise, perhaps not.

People who think note this and then are pessimistic are thinking short term and need to look at the trend over years.
8  Bitcoin / Bitcoin Discussion / Re: How many Bitcoins do you own or have you collected until now? on: June 11, 2024, 10:28:05 PM
I remember that thread, and the advice is similar then to now:  why would you discuss it in a public forum?
:-)
9  Bitcoin / Press / Re: [2024-05-29] Crypto market to hit $200T within 10 years — Animoca co-founder on: June 04, 2024, 05:55:47 PM
It is possible.  Ten years ago plenty of people scoffed at $2000/bitcoin.  We'll have to check back in ten years and see.
10  Other / Beginners & Help / Re: How I almost become a millionaire on: May 29, 2024, 11:28:26 PM
In the year 2010,my best friend introduce me to cryptocurrency and he advice me to invest in bitcoin. I felt bitcoin was another ponzi scheme created by scammers to scam innocent people. Today my friend is a multi Millionaire. If only I had listened to his advice,I would have become a millionaire by now.

There are lots of opportunities out there and we all miss some, maybe even miss 99.9999%!  It only takes being right on one or a few to make a big difference. Internet domain names in 1993-1995 (and later for some even).  Bitcoin 2009-??? (still opportunities for some more fiat gains, plus all the benefits in a debt hungry world).  US bank stocks and warrants in the 2009-2011 range. Apple, Intel, Microsoft stock in 1985 and for 20 years thereafter at various points.  I told people about all those things and few people listened.  NVIDIA in the last 12-24 months (should've bought some). Tons and tons of other opportunities that I didn't invest in, but don't let one missed opportunity make you think there aren't more.  Pay attention, read, learn and have some savings you can use when you see something that could be good and after researching maybe get involved a little.  Start your own business or do it with friends.

11  Bitcoin / Bitcoin Discussion / Re: End of Bitcoin on: May 22, 2024, 07:38:34 PM
For example does it take you the same amount of time to add 3 and 2 together as it takes you to add 334212132454779 + 675456421213132457964?
It takes the same time. Integer addition is instant, O(1). Did you mean elliptic curve point addition, perhaps?

Edit: For fixed-width integers (e.g., 32-bit, 64-bit), it's O(1). For arbitrary-precision, it's O(n) (with n being the number of bits in the integers, i.e. adding fixed-width n times). It's still fast, though.


I think he just meant that you can add 3 and 2 together instantly in your head whereas it will take you longer to add 334212132454779 + 675456421213132457964 since most people can't add them instantly without resorting to pencil and paper.  Similarly as the space searched expands like the numbers above got larger, searching takes much longer.
12  Bitcoin / Bitcoin Discussion / Re: I have some old BTC wallet from 2013 on: May 22, 2024, 07:35:17 PM
Perhaps I missed it, but what is the name of the wallet file that you found?  That might help determine what software it worked with and then you can see what it had in it.

As people said above, make copies of the file(s) before doing anything, just in case.  Likewise, before sending them to anyone make sure they are legit and not scammers.
13  Bitcoin / Bitcoin Discussion / Re: Bitcoin backed loans on: May 22, 2024, 07:31:42 PM
Thank you guys for your replies and advice. 3 things I have learnt after reading all replies:
1. Nobody in this forum ever used loans backed by BTC and never wanted to.
2. My investment strategy is bad, because I believe too much in BTC and don't have savings for 3-5 months that can cover my emergency needs.
3. I shouldn't do vacation if I don't have spare funds.

That's pretty fare. I take it. Thank you, but I don't believe nobody ever used loans backed by crypto in this forum, please reach out...

#3 is critical if you want to remain in bitcoin.  There were plenty of people who did similar things. Coinbase used to offer it for example, and another place is ending it shortly although I am not sure which one.  The key is that if you don't have the private keys, you don't have the coins so I'd advise against it and that is why I never did it.
14  Bitcoin / Bitcoin Discussion / Re: Why is Bitcoin the Dumbest Thing Ever Invented on: May 22, 2024, 07:28:11 PM
...That's why Bitcoin is the dumbest thing ever invented.

As opposed to fiat that will steal somewhere between 3% and 300% of the value of your assets every year (depending on your jurisdiction) and deposit them into someone else's account?  Fiat and other systems that are subject to the whims of someone else (not censorship resistant)?  When the former US President with billions of $ is shut out by Stripe and PayPal and certain manufacturers are shut down by credit card companies, censorship resistance is critical.  That's why the CCP and other totalitarian and authoritarian (fascist, communist, socialist etc) rulers around the world don't like it (see e.g. the current US President, Joe Biden, and much of his party) - they want power and control.


15  Bitcoin / Bitcoin Discussion / Re: Do your parents invest in bitcoin ? on: May 22, 2024, 07:21:58 PM
Are your parents investing in bitcoin ? Has it impacted your journey with crypto ?

Lol my father does have some Bitcoin.  I told him to buy, but he did a terrible job and bought way later at terrible prices.. he wanted to sell,  I stopped him, and now he is in profit but just a little bit.

Anyway, Bitcoin is way more common in millenials and Gen z.


Hard to convince old forks to eat new foods, it have to take a lot of time, talk and profable results for them to be convinced just a bit, and doing so may be late in such situations, although the pick interest either one ways or the other as long as we keep pushing our Bitcoin activities and usage to they face, in terms of investment, I think some of our parents are late to invest in Bitcoin now considering the level of finance and how much Bitcoin is cost at this time.
...

I'd be interested in hearing what constitutes "old" on here now.  lol.  Grin

Even one of the youngest on here from 2010-2011 timeframe (who is no longer on here at all) was around 17-18 then and so now would be early/mid 30s since I was never clear his precise age just around there.  For those of us who were older than that then, we are obviously 14-15 years old than back then.  lol.  Our kids would answer yes to the question posed above.

On a somewhat related point I did talk to people about it fairly often back in 2010-2013 (and thereafter) but there were the typical "tulip" comments, "it is too late" etc.  I made the point that if you spend your coffee money on bitcoin for a month or two you could end up with 10-20 of them at little cost, but few people did it.  

16  Bitcoin / Bitcoin Discussion / Re: End of Bitcoin on: May 22, 2024, 07:14:55 PM
you can do that with any transaction that is in mempool and has made public key public.
If I give you two numbers and ask you to add them together will you do it at the same speed with all numbers?
For example does it take you the same amount of time to add 3 and 2 together as it takes you to add 334212132454779 + 675456421213132457964?
And these numbers aren't even big!

It's the same in Elliptic Curve Cryptography.
If you can solve ECDLP in a short time when the key range is tiny, that doesn't mean you can do the same when the key range is ginormous like 2256. That's what the puzzle keys people are finding are, small keys in a tiny range compared to the max range of 2256.


If OP really wants to understand the technical details a bit more (vs "End of Bitcoin" number #1000000012340), this thread has some discussion about it:
https://bitcointalk.org/index.php?topic=5322009.0
17  Economy / Speculation / Re: BTC staying above $67,000, will it reach all time high? on: May 19, 2024, 12:23:17 PM
Didn't click on the links. It's a no-brainer to know that Bitcoin could proceed in any direction any second of the day. For me, however, it seems the general sentiment of the market remains to be one characterized with optimism. It remains more or less bullish. It's just that there are not-so-good days even amidst a good season. I guess this is it, a temporary break in a bullish season that would push the price to $100,000.
I'm really wishing that bitcoin would go in a downward direction,...

If wishes were horses then beggars would ride.  People were saying "$1" and "$10" are crazy. "Dollar parity never will hold, it will be back and stay below $1 soon".  All this same stuff.  Ditto $100, $1000, $10000, $20000 etc.  Every time people have been saying that and they wait to buy on a pullback, but then end up missing a chance to own some bitcoin and protect themselves.  It may go up, it may go down, no one knows in the short term.  Lots of people guess and get it right sometimes because they got lucky, but the long term trend for 15 years has been obvious.
18  Bitcoin / Press / Re: [2024-05-18] Blackrock Bitcoin ETF Attracts 414 Institutional Holders on: May 19, 2024, 12:19:04 PM
That is amazing if it is 414 of managers and they manage over $100 million.  And that was just the 1st quarter and we are already 1/2 way through the 2nd.  The data that pops up here and there is always quite interesting.
19  Bitcoin / Press / Re: [2024-05-12] South Korea's Bitcoin Premium Narrows ... on: May 15, 2024, 12:02:41 AM
"Per unit".  lol.  Who is writing this stuff?    If South Korea was a free market the premium would disappear quickly, but their statist masters don't trust their citizens.
20  Bitcoin / Bitcoin Discussion / Re: US senators warn on Iran Bitcoin mining industry on: May 06, 2024, 02:29:00 PM
Fuck Warren, Warren always been an enemy for Bitcoin (Elizabeth Warren, Warren Buffet).

This will be hard for miners in Iran, they're not anonymous since the government can know which house or place that consume a lot electricity, they can track it. Since miners will be forced to sell their coins to the Iranian central banks, the banks could manipulate the rates and make the miners won't earn much. Moreover, this make the newly mined coins forced to enter "centralized system".

She, like most of the rest of the elected members of her party, aren't just enemies of bitcoin, they are enemies of liberty worldwide.   Bitcoin takes power back from authoritarians everywhere who will rob everyone of the products of their lives if given the chance.  Think about how much has been stolen from the people of the world over the last century+ merely from inflation.  Of course that is the democrat party's modus operandi: they have the right to take parts (or all) of people's lives and they even fought the Civil War to defend their right to do so. 

Even more than 150 years later the evil of slavery animates their philosophy.  They just claim it is their right to do so because the "need to".
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