Yawnnn! I see a lot of what the community should do, what developers should do, and how we need to achieve whatever but very little on how many users or investors outside this forum would really want this, would really need this and more importantly would take privacy over risks of huge profits blown away by such move! Common, some really need to understand that there are Bitcoin lovers of different degrees, some like the maximalist here and some others who only DCA cause it will go up, the moment you present them with an option that they might not need but would mean the end of ETFs and as much of there trading on CEXs you would need to be daydreaming to think they will support it. Turning Bitcoin into a privacy coin would lead to a mass government ban of BTC around the world.
The BTC price would most likely go back to the levels before 2015. I'm sure that 90% of the Bitcoin investors don't want this to happen.
They prefer big profits over privacy. I kinda understand them.
Make that 2011 as getting restrictions after being accepted will be one hundred times worse than when it was just a gray area. |
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What I mean is how are we the public able to purchase these new bitcoins that are mined?
Just how you purchase any other goods that are produced by someone, if the miners decide to sell they will either use a CEX or an OTC deal and people will buy those coins, just as everyone buys theirs. And what prevents the miners from hoarding them and deciding not to sell them?
Theoretically nothing, but in reality bills, to keep mining you need to pay for electricity, maintenance, rent, and so on, you can't have the cake and eat it too, that is unless you have already a bag of unlimited cash set aside that you use to pay for those. |
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Just some hours ago I tried to open a thread and an error message popped up showing that the topic is off limits to me then i begin to imagine if are there topics that are really off limit to a rank or is it from my browser?
Would it have been far easier to link the topic here? Also, the message is: "The topic or board you are looking for appears to be either missing or off limits to you." so go for that assumption, as being trashed. But if some topics are off limits to low rank members then what could possibly be the contents that such topic contains that a lower member cannot be able to access it.
There are such sections like the Ivory Tower but the restrictions are on posting there, not on viewing the topics, you can read the topics no matter your rank. |
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That's not how a ponzi works, it's completely different. First, they don't have to pay someone from the funds the first investors put in, why would they? They are getting money for a product, why would you risk your business to not buy it when you could simply buy the coins and still make a profit from the commissions you take from your clients? What would be the point? BR made billions this way, they don't care about the value of those assets, that's what investors should do, up and or down BR just like CEX makes money! Even if Bitocin would drop to 10k or raise to 100k, BR would still make money! As you say, don't trust, verify, Is there any address where we can see the actual BTC stored? How can we know it is the BTC for ETFs and not just the BTC of the clients of CoinBase?
So, did you question also Microstrategy's finances? Did you question also Bukele funds? You know for both the custodian is also Bitgo and Coinbase, right?  But wait, those were the "good" guys, right? Either way, we end up trusting somebody, as we don't have 100% proof.
And since you have no proof just accusations, ....see where this is heading?  |
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Last block fee
Subsidy + fees 5.704 BTC $377,445
Lol, at how times change: Subsidy + fees 3.338 BTC$195,408 So we're down to half, if things keep being bearish I think we're going to see two negative adjustments for sure, we have the lowest income per th/s in 3 years, and things can't go on like this. Curious about who will blink first cause somebody needs to do it. right now I believe that Antminer S21 pro is the top one, soon we can start seeing S22 and others with higher hashrate and less power consumption.[/b]
Bitmain has never released a miner with an even number since the R4, so it will be a S23 name for the next one in line. |
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The Federal Reserve has actually been more dovish during their recent meetings that's why S&P 500 has been going up. Jerome Powell is still saying that a soft landing as highly probable, and that he expects three rate cuts later this year. During his speech yesterday, he said that that he doesn't expect to have any more rate hikes this year = Dovish.
I did not believe in terms like soft landing or technical recession because governments want to use those adjusted terms to mislead citizens about what's actually going on and severity of it. When they say technical recession, we know recession has been here for a while. What technical recession are you talking about? The US GDP has grown by 3.4 in the last quarter of 2023 and by approximately 1.6 in the first of 2024, it hasn't seen a decline since Q2 in 2022. No matter the hate the thing is that the economy still grows, jobs are still there, and unemployment I still low, the only tragic things that is happening right now is all the doomsday fanatical at zerohedge cutting their wrist as another global recession or economy meltdown is avoided. Seriously, we have been talking about these for 3 years already, time to simply give up and watch as there is no apocalypse happening! Jerome Powell is trying to give the Oligarchs their soft landing, but there's a higher probability that a recession should happen to remove the stickiness of inflation.
So why not short the market with leverage then?  |
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Now Today' (2-May-2024). 1 Bitcoin is worth 57000 dollars, 1 Bitcoin is 57000$ means 57000$ worth of money has gradually reduced to 1$ and bitcoin has a power to show it clearly.  And that is the invisible depreciation of inflation and we are become safe when we hold Bitcoin. And between 2020 and 2022 Tesla shares have gone up 20 times while Bitcoin appreciated only 5 times, so that means Tesla shares brought down the price of Bitcoin by 4 times! See how illogical those things are? If Bitcoin brought down the value of the USD so did Apple, so did Microsoft and so did Coca-Cola! But wait, Dash went down from 1220$ to 25$ does this mean that Dash is supporting the $? Lol! It is true that the value of the dollar is declining, but it is impossible for the rate of decline to be as rapid as the increase in the price of Bitcoin, as the percentage of Bitcoin market capacity is about 1 trillion compared to the American economy, which is greater than 30 trillion dollars, so Bitcoin cannot affect the dollar. The value of the dollar is contradictory, but the value of Bitcoin is increasing, so the price of Bitcoin has risen sharply over the past 10 years.
Bitcoin can't go up without dollars infused in the market, that's one of the things I don't understand how can people omit, like any kind of tradable or investing mechanism you need money poured into it to make it more valuable, it's the same for gold, for shares, for crypto, for real estate for everything. The size of the economy grows as long as those grow also, you can't have all assets multiplying their value while the economy goes down. |
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I know that a company selling ETFs must have the real thing stored somewhere, the rumor/opinion says that those ETFs are not actually backed up by Bitcoin, and these companies are "creating BTC from thin air", profiting from BTC real price, increasing supply, and bulk selling thin air to hit the price.
Think for a moment, how do you sell something created from thin air? Also, how do you protect yourself if you take money for a thing you don't buy and that keeps increasing? BR ETF was launched at 40k , how much loss could they sustain? I may want to believe it's true, though not because the price of bitcoin dropped after the launching of the etf, but because the government actually are good at stuffs like this, they are professionals in the inflating things/assets, most especially, if the asset is one that the buyers don't see for real, but simply view it as numbers on their screen.
So you're willing to believe some tinfoil material with no proof that makes no sense whatsoever financially just because you hate the government. You know one rule of Bitcoin, it's called "Don't trust, verify" but I guess conspiracy theories are more appealing when things don't go the way you planned! |
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Let's dive back on the memory lane, Bitcoin spot ETF was approved by SEC in US and immediately this happens, the market plummet
The US ETFs are the only reasons we are still at 58k as we speak, the approval by the US is what triggered this bull run, nothing else, what you see now is profit taking and lower and lower cash inflow into them.As for Hong Kong ETF, nobody cares, it's just a shady one in a controlled economy with clear requirements and restraints, no wonder the volume was 12 million compared to $4.6 billion in the US. If you think they are the cause for it just think of what will happen if Blackrock decides to quit, we will visit 20k in an instant. I got your point here, what I meant was base on this recent experience with the market price which was all that just transpired between yesterday and today, following the news, the Hong Kong government just officially made the announcement yesterday to recognized Bitcoin ETF as approved, t
It happened two weeks ago: https://www.cnbc.com/2024/04/15/hong-kong-regulators-approve-spot-bitcoin-and-ether-etfs-.html |
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Let's say for example, a trader is making 5 digits on a monthly basis just by doing trading. Yes, there are times where he lost money in trading since no one can predict the market with 100% accuracy, but at the end of the month, he's making money like other employees. Do you still need to have a "RELIABLE" job if you know yourself that you are making money in trading "CONSISTENTLY"?
As much as I don't want to consider trading as a job, there are some traders especially those expert ones that took trading as their full-time job already just because they're earning in it. Some might even earn more than most of the employees who are working 8 hours per day. At the end of the day, it all depends on the situation.
For the last 5 years I've always ended in green in gambling, even for lower timeframes, does this mean we should count gambling as employment also as long as you're making money? I know a few punters who have made hundreds of thousands betting on what they know based on timeforms which are the same as TA, so are they employed also? There are people who collect soda cans and plastic bottles, they earn constantly, should they call themselves employed also? After all with soda cans you don't lose money, what kind of job is that in which for three months you have to take money from your savings to be employed and keep working? |
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Remember, many people in crypto space never look at CZ like someone who can be guilty of anything, he maintained his statue for a while and he is a cool headed man, Ronaldo can believe that he is in a safe hands.
Anyone with a brain would have asked a few simple questions before entering an agreement with a company, like - where is your company based...CZ:Crickets - are you licensed for what you do...CZ:Crickets -what's the thing with your company getting kicked from country after country....CZ:Crickets Who cares? I have always rated Messi anyway. So, did you buy some Planet token? |
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Imagine saving Bitcoin and earning interests on it when it has gone down and when it goes back up, you are in double profits margin, because it will be too risky to not have a way save your assets and your profits from the falling market and waiting for when the market is favourable.
Yeah , imagine a money printing machine where everyone gets money by doing nothing, how could that be not a great idea? Remember Celsius, that was a savings account, you would deposit your coins, get interest on it and then....you would have no more coins. What part of "be your own bank" did you miss? |
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Hmm, I don't get the part of the conspiracy....nor why it would make sense (if any) for him to be a miner. It makes a lot of sense if it was the miner, because then, they didn't pay 33 bitcoin. They paid a median-sized transaction in return for the "rarest" Ordinal or whatever-token. It makes no economic difference if the miner pays themselves 10 sat/vb or 1,000,000 sat/vb, but it apparently makes a significant difference if it's Ordinals. Hmm, I think we are talking about different things. The 33 BTC was an auction on Coinex: https://www.coinex.com/en/halving-block-auctionIt wasn't an inscription price of a tx, somebody paid "cash" 33 BTC for that satoshi! |
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A guy paid 33BTC for a satoshi Might be a wild conspiracy, but wouldn't it make a lot of sense of that guy was the miner? Hmm, I don't get the part of the conspiracy....nor why it would make sense (if any) for him to be a miner. The only two scenarios for this would be: - money laundering, but why would Viabtc be part of this when they have their accounting book basically on the chain in plain view - the usual collector with a ton of money and too little common sense IMO it's a serious flaw that it's even possible to add any data that is not necessary to send coins from one address to another. Blockchain space is already extremely scarce, why are we tolerating non-productive use of it?
The "flaw" has existed for a long time under different aspects, it just made the news as it was more intensely used, and people will always find a way to abuse it. Just for the laughs, I wonder if a Muslim would consider these coins "tainted": https://mempool.space/tx/b5eb3d954b38e41960859aedd094070f7cf1047c1d8aa8492ae82c4c12ea511f |
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it is a disk with 624 bm1366 asic chips and an estimated hash rate of 312 th/s.
unfortunately, it is not yet possible to say anything about the total power usage, as the project has only just been created and the first prototypes still have to follow.
It uses the same chips as the s19xp, so expect something around 7kw for that. Now 7kw on a circle of 40 cm in radius, that's a lot of heat, and with the s19xp losing money at over 9 cents/kWh I don't see much future in this. |
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Oh great, let's put some more stuff on the chain! Can't wait to see some 4k movies there or the whole Simpsons show! 1 MB of witness data at 10 sats/vb currently costs $1575 (1MB / 4 * 10 s/vB / 100000000 * $63000). Check my math.
A guy paid 33BTC for a satoshi and hundreds pay way more than 2k for a JPG, the publicity a new author would get for releasing his book over the blockchain for free would be worth 100 times that fee! |
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We're going negative, as expected although this might be again luck Latest Block: 841369 (10 minutes ago)
Current Pace: 98.2938% (698 / 710.12 expected, 12.12 behind) Now, the interesting thing is that we lost 12 blocks but the fees are down to 17 sat/vb as I type this, so there is no demand for space, no jump in fees anymore, the last block has just 0.28 BTC so not even 10% of the block reward, we're looking at a 40% loss in revenue not profit! If the price goes to 60k or below then we have another 10% before that, a huge load of fudge! As mikey said, someone will have to blink and if they don't and they go still full throttle this is just going to be worse for them all in a few months, I wouldn't want to be a guy who has poured all his investors money in a plan of 10exahash right now, especially if those weren't money from usual ventures but the government back dor deals. That's some serious fudge to be honest lol, I mean if you have S19 Pro and 7 cents you are basically mining at break-even, S19 pro might not be the latest gen but how old is it? and how much was it sold for? I would be very upset if I had that, then even if we were to assume that you magically had a 5 5-cent power rate which is pretty low by today's standard, that would be $2 a day, worse than S9 on its worst days a few years ago. I still have two of them singing in the basement, the power is of no concern since till autumn I can deal with 10KW, but in August I will retire them if we're still in this price range, they did a great job at heating the floor in a stone/concrete building but I don't need that in summer and going above peak allowed consumption I will have to pay 12eurocents/kwh, no f way! Plus, and this is the most important thing, I got bored with them! |
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Everyone should connect to as many other nodes as possible an this open large channels to large providers making them even larger is not helping growth.
Once again and as always....in my opinion.
-Dave
I might be wrong about this but huge channels with multiple connections are good for inbound capacity or at least that was the case when there were fewer of them, you need a well-connected node with capacity in your list if you're just starting and you want to receive payments with small capacity on your own. Of course, multiple channels amounting to the same value would provide the same capacity but one entity that is making a business out of this would be faster and more reliable at providing liquidity and rebalancing. Anyhow, I don't think ACINQ is going to close its channels anywhere soon, the only reason I see for that would be MICA and how that is interpreted, but I don't think it's a priority for them, LN is still insignificant globally. |
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Perhaps they will go after the GitHub profile with its repositories as well and have it banned, like they did with Tornado Cash. Those GitHub chaps are cowards too, if that's the correct wording. Maybe they could host the files on decentralized alternative platforms to GitHub, but it will certainly reduce their popularity by miles. You do understand that nobody is going right now after Phoenix/ACINQ, right? Nobody asked them to remove the apps from the store, nobody has issued a warning to ACINQ, nobody but themselves has taken a decision, and that was to protect in case of ...whatever! No US agency has gone after a LN wallet, yet!This whole thing is just for their own company protection, any US citizen could easily use their service, they just want to claim they have done everything possible to restrict them, but overall nothing has changed. Just as you can't stop anyone from still using Tornado ACINQ can't stop a US citizen from routing payments through their nodes. |
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