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1001  Economy / Services / Re: [OPEN] [banned mixer] Bitcoin Mixer Review#1| 6mBTC+Lifetime 50% OFF | Bonus 10mBTC on: September 25, 2023, 08:35:07 AM
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1002  Bitcoin / Bitcoin Discussion / Re: Bitcoin miners energy usage has exceeded 50%, where is Elon? on: September 25, 2023, 08:05:57 AM
But that would be inefficient. Why re-buy the "wasted Bitcoins"? Why not merely use the fiat to directly buy the car instead of using your Bitcoin, then replacing the Bitcoin? That's why it doesn't make sense that users do "Fiat -> Bitcoin -> Purchase" unless you absolutely have no choice but to use Bitcoin, or if you truly earned the Bitcoin you spend, like Laszlo.
Of course the ideal situation is when you also earn Bitcoins, e.g. if your salary is partly paid in BTC, and/or if you are a service provider accepting BTC. Then the "Bitcoin circulation" aspect would come naturally: You could spend a part of the Bitcoins in things like a Tesla car, and you'll get them back (albeit getting back what you paid for a car it may be quite slow, but Tesla cars aren't directed at the lower middle class). I'm aware that this isn't the norm today.

Another case: Particularly in market situations when you have already made some profit with your BTC, it makes sense to spend part of them if you can satisfy a necessity, like a car. I think particularly producers of high-priced goods like cars can direct their efforts to that public: early adopters or those who are "in" at least since the bottom of the last bear market. You'll not always have (in addition to the BTC) the fiat to spend it on such a good, and in this case it may make sense to simply spend the BTC, and if you like to buy back some BTC, then you can do it.

I don't think "changing between payment methods" is that much of a hassle. People do it all the time, transferring between different bank accounts, using ATMs, etc, so re-buying BTC if you have a good exchange partner isn't much of a problem. And again: if you're a Bitcoin bull, strengthening the currency ecosystem is adding value to BTC, so why not simply do it? You can even get social prestige (e.g. posting your Tesla you bought directly with BTC on Twitter, pardon X).

And there is another aspect: Buying BTC has become increasily easier than selling them, due to AML/KYC regulations (proof of source for BTC you received, etc.). So if you have some BTC from old investments in ICOs or altcoin trading for example, which are difficult to track because the exchanges where you traded don't exist anymore, then a purchase of a good may be a good way to spend them. That may be not the case with cars as car sales are regulated in many countries, but with other goods it isn't a bad idea. The re-bought BTC instead can be tracked well and it will be much easier to provide a proof of source for them.


But given the context, it's not about "changing payment methods", nor is it about "the increasing ease of buying Bitcoin today". It's about efficiency. Why would I, a fiat earner, buy Bitcoin merely to use it to purchase a car? I could buy the car using my fiat directly. Why the few extra steps unless I'm incentivized to do them, like perhaps a 30% discount on the car if I use Bitcoin?

A case when a person has no choice but to use Bitcoin is if his/her computer is compromised by ransomware which requires payment in Bitcoin. Or if a Heroine addict can't get Heroine anywhere except the Dark Markets, would be another good illustration of payment in Bitcoin. Another case would be if someone doesn't have a credit card, but he/she wants to gamble in an internet casino. But Tesla, or an iPhone, or another common item that can be purchased for fiat, those markets are very efficient that there's no need to use Bitcoin.
1003  Bitcoin / Bitcoin Discussion / Re: Bitcoin miners energy usage has exceeded 50%, where is Elon? on: September 24, 2023, 03:13:04 PM

Why would any HODLer waste their Bitcoin on a car that would merely start to depreciate in value right after it goes out of the factory?

HODLers can instantly re-buy the "wasted" Bitcoins. Or maybe they want to take some profits with less KYC hassle involved. They can re-buy partially then. In any case, they're strengthening Bitcoin's "use as a currency" ecosystem and make Bitcoin's value proposition stronger, which could benefit them in the long term.

Think about Laszlo in 2010. He "wasted" lots of BTC but strengthened the ecosystem, and I'm sure he got the 10.000 BTC back very fast (via mining, etc.).


But that would be inefficient. Why re-buy the "wasted Bitcoins"? Why not merely use the fiat to directly buy the car instead of using your Bitcoin, then replacing the Bitcoin? That's why it doesn't make sense that users do "Fiat -> Bitcoin -> Purchase" unless you absolutely have no choice but to use Bitcoin, or if you truly earned the Bitcoin you spend, like Laszlo.
1004  Economy / Gambling / Re: ✨ Shuffle.com | The next generation of crypto casinos | Sports, Casino + token on: September 24, 2023, 02:58:50 PM

Haha, thanks. You're right! All Evolution games are running normally now. When did Evolution start implementing this? Because I believe it's not a Shuffle problem. But it's confusing because that "error" doesn't happen in other casinos. Some of them also encourage the users to play the Demo Mode to test the UI/UX and for practice before letting them play with real money. It could get overwhelming sometimes, especially the live games.


It’s not about Evolution gaming but rather Shuffle settings is restricting you to play live games without completing their basic KYC on your profile. New casino usually requires this basic info KYC in able for you to use their games especially live games.

I can still play Evolution Gaming games using my account without KYC on different Casino.  I think this issue is only available due to Shuffle system.


No, it's both Evolution and probably Shuffle's set up with the provider. I can connect to those other providers of live casino games without encountering any problems, before I posted my basic personal details.

I believe Evolution has become more restrictive than most providers since it has become more popular? It's probably one of the three providers that has the best Craps UI/UX for live and first person games in my opinion.
1005  Economy / Gambling / Re: ✨ Shuffle.com | The next generation of crypto casinos | Sports, Casino + token on: September 24, 2023, 10:39:40 AM
Hi OP, I have just registered with the Shuffle after being accepted in the signature campaign. The first game I came checking out, the only game that I truly check out in any online casino, is Live Craps or First Person Craps by Evolution. Haha. But to my disappointment the screen turns black and says, "UNKNOWN ERROR".



I also tried BlackJack by Evolution, the same problem. I never had this problem before in BlackJack.fun and BetPlay, where I usually play.

Haha I'm guessing you haven't completed your personal information, right? At first I also experienced the same thing as you, but after I completed my personal profile everything back to normal.


Haha, thanks. You're right! All Evolution games are running normally now. When did Evolution start implementing this? Because I believe it's not a Shuffle problem. But it's confusing because that "error" doesn't happen in other casinos. Some of them also encourage the users to play the Demo Mode to test the UI/UX and for practice before letting them play with real money. It could get overwhelming sometimes, especially the live games.

Quote

Now what I can't see is the promotions page, is it really not available or am I not qualified to check it? what should I say if a new casino doesn't have a promotions page even though that is one of the important features as an attraction.


There's probably none for now, and currenty they might be gathering information to have a more effective promotion.
1006  Bitcoin / Development & Technical Discussion / Re: The Lightning Network FAQ on: September 24, 2023, 10:09:19 AM
what would be the purpose of a tail supply offchain if it can't truly be it's own token onchain?
I guess deploying it. Because you can deploy it as a hard-fork, but then it would be just another altcoin. You can try to deploy it as a soft-fork, but then you have to ask mining pools for support, and create a pull request, to get it officially merged into Bitcoin Core. Sidechains didn't pass through the whole soft-fork process, and you want a tail supply to pass it? It simply won't happen. So, what kind of deployment people are left with? No-forks, of course. And Lightning Network is a no-fork network, because since Segwit, you can deploy many different LN-like networks, with many different rules, and you can do that in a permissionless way. And obviously, you can also make your own sidechain with tail supply, but as long as they are not yet decentralized, you are left with centralized federations, similar to RSK or Liquid.
Because isn't the debate for a tail supply is to give the miners "extended" incentives for them to keep securing the network?
You can create mining inside LN, some people wrote about it, some people tested that to some extent, there are some private channels, where you can receive single millisatoshis (or even smaller units) if you mine even on your CPU. So, some kind of such networks are tested, but they are not yet deployed in the wild, so you have to directly talk to their operators, because all of that is not yet public (and I guess, this is one of those things that garlonicon had in mind, when he said "I put some quote in my signature, as a reminder, to start sharing some of my not-yet-published code, but we will see if I will be ready for that").

What you guys are talking about sounds a bit FUDdie to me,


FUDdie? No, it's a mere discussion that started in this topic, https://bitcointalk.org/index.php?topic=5466502.msg62860173#msg62860173

The confusion, from my side, started when vjudeu posted that millisats vanish into thin air when Bitcoins in the Lightning Network are settled on-chain. Because from what I learned, they don't technically "vanish". The channel closer's millisats go to the channel's peer, rounding up his/her Bitcoins to the nearest sat.

Although, he's also right from an on-chain viewpoint, they do "disappear".
1007  Bitcoin / Wallet software / Re: A Non-Custodial wallet, Atomic Wallet, being compromised on: September 23, 2023, 01:41:20 PM
They made an update to June 3rd Event Statement the other say.
Still says  'not our fault, looking in to it'
https://atomicwallet.io/blog/articles/june-3rd-event-statement

I'm guessing that they hope it just quietly fades away and drops from peoples memories.

-Dave


They should probably start shutting down they're infrastructure, stop downloads of their software, post warnings in their website. A smart hacker could be collecting a list of wallets they can steal coins from and they're probably preparing the logistics of how they can take all of them in one attack.

Shower thought. It's 2025, Bitcoin is in a bull cycle priced at $100,000 per coin, THEN the Atomic Wallet hacker steals more than $1 Billion in Bitoin in one hour.

¯\_(ツ)_/¯
1008  Bitcoin / Development & Technical Discussion / Re: The Lightning Network FAQ on: September 23, 2023, 01:28:57 PM
You should distinguish two different things: what was done, and what could be done. Those things are separated. LN in the current form handles millisatoshis correctly. However, it does not change the fact, that it is technically possible to create another LN-like network, with different properties (for example tail supply).


OK, I might have confused one post for another and I thought you were talking about LN, not a hypothetical network.

Quote

Quote
Am I wrong in my understanding about millisats?


Partially, because there are three additional decimal places, not four.


Yes, sorry. It's three decimal places.

Quote

Quote

It still adds to ONE whole pizza even if the slices were merely made smaller, no? Or am I wrong?


Yes. The whole misunderstanding comes from one simple fact: the topic about tail supply is not about what was done, but about what could be done. And as garlonicon put in the signature, "making a comment on a thread is a much lower investment than actually designing and deploying something that people will use in production". And if you read other comments in the same tail supply thread, you will notice, how people proposed solutions, if some tail supply would be deployed.

So, to sum up, the current Lightning Network is safe. No coins are created out of thin air, because millisatoshis are always sent somewhere, and not simply burned, when you close your channel. And currently, I cannot see someone wise enough to deploy tail supply properly, even on LN-like network. So, we are safe, at least for now.


Understood.

My only question is, what would be the purpose of a tail supply offchain if it can't truly be it's own token onchain? Because isn't the debate for a tail supply is to give the miners "extended" incentives for them to keep securing the network?

It's off-topic, I made the same question in this topic before, https://bitcointalk.org/index.php?topic=5405755.msg61685470#msg61685470
1009  Bitcoin / Development & Technical Discussion / Re: The Lightning Network FAQ on: September 23, 2023, 10:33:26 AM
Lightning users, read my post and the posts above for context, https://bitcointalk.org/index.php?topic=5466502.msg62874374#msg62874374

Am I wrong in my understanding about millisats? I always understood that millisats were merely +4 decimal places going down, that doesn't affect Bitcoin as a unit. One 8 decimal Bitcoin onchain = One 12 decimal Bitcoin offchain. But this post leads me to believe that more units were added just because 4 more decimals were allowed, https://bitcointalk.org/index.php?topic=5466502.msg62866429#msg62866429

It still adds to ONE whole pizza even if the slices were merely made smaller, no? Or am I wrong?
1010  Bitcoin / Bitcoin Discussion / Re: Bitcoin miners energy usage has exceeded 50%, where is Elon? on: September 23, 2023, 10:05:12 AM
@Ale88. Did much of the bitcoin community not cheer for cousin Elon when he declared that Tesla was buying bitcoin and also announced that it would accept bitcoin payments? What happened? Do we not like cousin Elon anymore?

Also, if acceptance of bitcoin will not help increase sales and revenues of any retailer then it would not be seriously accepted. It might be larply accepted, however.




 Roll Eyes

It's not 2012 anymore when people were so idealistic and never thought Bitcoin would hold actual value of more than $20,000 per coin. Why would any HODLer waste their Bitcoin on a car that would merely start to depreciate in value right after it goes out of the factory? Tesla might probably convince HODLers if the company gave a 50% discount for all car purchases through Bitcoin, but to offer the same deal as fiat, DEFINITELY NOT. My Bitcoins are more valuable than any car for sale.
1011  Economy / Gambling / Re: ✨ Shuffle.com | The next generation of crypto casinos | Sports, Casino + token on: September 23, 2023, 08:10:30 AM
Hi OP, I have just registered with the Shuffle after being accepted in the signature campaign. The first game I came checking out, the only game that I truly check out in any online casino, is Live Craps or First Person Craps by Evolution. Haha. But to my disappointment the screen turns black and says, "UNKNOWN ERROR".



I also tried BlackJack by Evolution, the same problem. I never had this problem before in BlackJack.fun and BetPlay, where I usually play.
1012  Economy / Economics / Re: The economy is also getting harder for private equity companies on: September 22, 2023, 02:22:49 PM
But do you believe it will never stop with falling liquidity in the system?

Plus lend money to common people? In the context of what's written in that link, I think you and I have a different idea of what private equity companies are?
Not sure if I get his tone right but I feel he is being satirical about it. This is one of the obvious flaws of how a modern economy works that has been posted many times on the internet. I'm pretty sure there is a documentary explaining how debt works and how risky it is in general.

If he is not though, then I don't see why we believe Bitcoin is a better alternative compared to fiat if the debt is deemed necessary to allow the company to grow their wealth (or their reliance on fiat).


There was a phase in my Bitcoin journey when I believed that it could be a replacement for the current form of "money". But I'm currently not anymore with that camp. I believe Bitcoin is a back up or fall back IN CASE the financial system collapses, but as a direct alternative? I believe not, although it has its own utility and reason to exist side by side with the legacy system economically, socially, politically.
1013  Economy / Gambling discussion / Re: Free spins are also a demo in disguise? on: September 22, 2023, 02:05:13 PM

OP, "a demo in disguise"? I believe not. You said you and your friend won $15.00 from free spins. That's actually not very bad! You can't actually expect to win hundreds or thousands from free spins unless they're for slot-machines with progressive jackpots, no?

I won multiple times more than a 100$ on free spin from Livecasino free spin bonus on our signature campaign. I remember winning same amount on Winz.io free spin and Bitcasino. 100$ and above is possible to win free spin depending on the max multiplier and the bet amount of the free spin.

There’s a wagering requirements on free spin rewards so I doubt that casino will provide capped on winning possibilities since most of the free spin offer by other casino requires deposit for wagering since the free spin reward is lock. Just saying that free spin is not different on normal in terms of max profit potential.

I'm sure it's possible, if you're lucky. I won $25.00 from "Diggy's Hole" before when BlackJack.fun had their promos and daily/weekly voting tournaments, and I consider that a good win from mere free spins. But what I was telling OP was we won't win a very large jackpot unless the slot-machine had a progressive jackpot that adds more to the vault as more and more money goes into it.

Weren't you a regular BlackJack.fun player before? I believe you're the one who's good at BlackJack. Cool

Do you mean digdigdigger right?  Cheesy



Hahaha YES! We always joke in the community chat to bring lotion everytime they go "into Diggy's hole" because it was like we were taking advantage of the slot machine from all of out free spins.

Quote

Yeah, I understand what you are trying point out here. I just share some of my experience about winning big using a mere free spin. I really missed the previous version of Blackjack.fun which they have a weekly reward for VIP user that wager above 1BTC and the free spin that has no wagering requirements. I remember winning 2mbtc on it just with my 25 free spin.


Yeah, I miss the original version of BlackJack.fun, it incentivized the players which also might have helped in starting a good community for the casino. Everyone was familiar with everyone else in the chat, and we had our own bets on who would win the weekly wagering tournaments. Cool

Quote

I’m not good on Blackjack, I’m just regularly playing that’s why I can manage my gameplay properly using the standard strategy.
 

👍
1014  Economy / Services / Re: [CFNP] Moneypot.com - Crash with the Lowest House Edge! | Signature Campaign on: September 22, 2023, 09:05:51 AM
Hi Royse777, I'm sorry to announce that I'm going to another campaign. I want to say, thanks! I enjoyed all my time in all of your campaigns. Hopefully to be in of them again next time.
1015  Economy / Services / Re: [OPEN] Shuffle.com | Next Generation Crypto Casino | Signature Campaign on: September 22, 2023, 08:56:15 AM
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1016  Economy / Services / Re: [OPEN] Shuffle.com | Next Generation Crypto Casino | Signature Campaign on: September 22, 2023, 05:25:28 AM
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1017  Other / Archival / Re: WasabiWallet.io | Open-source, non-custodial Bitcoin Wallet for desktop on: September 22, 2023, 05:11:49 AM
I have a shower thought about the current situation with coordinators/mixers that use the services of blockchain analysis companies.

Although my viewpoint has always been neutral and that it's merely about trade-offs, the implementation isn't as effective as users were made to believe. Because, how can we debate its effectiveness if blockchain analysis companies can just argue that any false negative that went through were merely caused by a more permissive "setting" that can always be adjusted to be more restrictive? Roll Eyes

If we can't debate its effectiveness, how do we truly verify that it's effective?
1018  Economy / Services / Re: [OPEN] SINBAD.IO [Mix Your BTC Quickly] Signature Campaign | Up-to $200/w on: September 21, 2023, 01:49:20 PM
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1019  Economy / Economics / Re: The economy is also getting harder for private equity companies on: September 21, 2023, 05:45:50 AM
That's how the economy works! PE companies lend money to the other companies for a stake and then they borrow money from banks by showing their portfolio of investment. That's a very common practice. Even banks do that quite often.


I believe not always, and not as a rule. Because the more logical move is to let them go from their portfolio and not cause the whole company to be at risk. What some of them did is they took MORE risk, which could be good. But in the current state of the company, it could be very bad.

 Cool

Quote

They lend money to common people, then sells off the loan portfolio to the asset management companies to borrow money against that. Debt over debt over debt - keeps the modern economy rolling!


But do you believe it will never stop with falling liquidity in the system?

Plus lend money to common people? In the context of what's written in that link, I think you and I have a different idea of what private equity companies are?
1020  Bitcoin / Bitcoin Discussion / Re: Moment of truth on: September 20, 2023, 11:30:26 AM

4. Did you also have the "get rich quick" mindset. I bet it slowed down your learning process.


I got in for the greed, but I'm staying for the revolution.

The more I understood about how the protocol works, its incentive structure, main value proposition, and its Ethos, the more I understood that it's something that we need to own as a back up/fall back in case the current financial system collapses.

Plus it probably slowed down the learning process, but it was not to a great extent.
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