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1021  Bitcoin / Bitcoin Discussion / Re: "Don’t fall for the bitcoin bubble, even the Flintstones had a better system"... on: February 14, 2021, 09:36:27 AM
People enforced borders, accepted nationalities as part of their identities, formed governments and appointed elected officials to do the work of running society. Those elected officials formed laws, regulations, gave us central banks and the central banks "promised" to pay the greenbacks. At the base of it all, it was, We, the people who empowered banks to print those pieces of paper and promise us their value.

Now when, We, The people, are agreeing that bitcoin holds value to us because of the technology, privacy and control; they want to tell us it cannot be done?

I really don't get it. Who really are the politicians or economists to preach the public over what has value and what doesn't? If it was up to the governments, would we be aiming for Mars? If it was left to them, would they even be thinking about taking over the huge oligopolies of fossil fuels, Combustion cars, Plastics, packaged water and fucking "superfoods"??

America, please just elect Elon musk and get it over with these dinosaurs.
1022  Bitcoin / Bitcoin Discussion / Re: Do btc blocks have private keys? on: February 14, 2021, 09:10:42 AM
I too wouldn't mind knowing this, I thought about it when I spotted this Block for sale in the Collectibles section.


That "block" is the physical representation of the private key containing the miner's reward plus fees for Block number mentioned. Those physical collectibles have their private keys laser-etched and with a hologram covering it. So if you peel it off, this reveals the private key which you can use to claim the "virgin" BTC which was mined in that old block.
This also means that it'll have a bunch of forked coins including 25 BCH, 25 BTG etc etc.

If i understand correctly, OPs question is whether the bitcoin blocks that are viewable on blockchain explorers contain the private key (in some form). The answer is clearly No. Also, Blocks don't have private keys. They have block headers and the all the transaction IDs.

I too wouldn't mind knowing this, I thought about it when I spotted this Block for sale in the Collectibles section.


I know that private key to the genesis block can control the entire blockchain.
WTF are you talking about? Nothing can control the ENTIRE blockchain my friend? Not the genesis block, not even Satoshi's private keys.
1023  Economy / Economics / Re: SWISS NATIONAL BANK is the first Central Bank to own Bitcoin (via TSLA and MSRT) on: February 14, 2021, 07:20:32 AM
As far as central banks actually owning Bitcoin, that would probably be one of those hyperbitcoinization moments. I doubt that will EVER happen.  

Never is a long time.
You're right . That is why I doubt it'll ever happen. Wouldn't say never. My opinion is that central banks holding Bitcoin would require them to have to leaps of faith. Risk their own credibility as they print infinite amounts. Second, to acknowledge that a capped, digital good over which they have no control can be accepted as money/ currency. Central banks holding it would mean none of the alternative nomenclatures about Bitcoin being SoV or a commodity wouldn't be needed. Those are huge leaps of faith for the central banks and the men their to take.

Furthermore, holding 1% to 10% of central bank reserves in bitcoin is not going to kill them (for whichever particular central bank that might decide to go down that road - and they already know how to do hold alternative assets with something like gold), and may well happen long before never - maybe even this year - possible within the upcoming 6 months (which is also long before never)?   Cheesy Cheesy Cheesy Cheesy
It'd be pretty revolutionary if this happens and I couldn't be happier..

By the way amishmanish, even though I did not quote your whole post for commenting, I will note that unless I am misreading you, your tone comes off in a bit of a defeatist kind of way
I don't understand how I come across as defeatist if i say that the ability to use BTC should be as ubiquitous as the mobile phone. I don't know what part of the globe you're from, but I have seen first hand the empowerment that mobile phones have brought to everyone from a marginally paid salesman at a small store to the small farmer managing his cropping cycles and harvesting deals. Basically the flow of information has resulted in people having more control over allocation of their resources and getting the best return on their meager investments.

When you say "Big ass investments" and "Big ass corporations", I imagine those who probably hold 100s/ 1000s of BTCs from the early years and are salivating over the prospect of becoming mullti-millionaires/ billionaires and being accepted so throughout the world with removal of all regulatory bottlenecks. Good for them but there has to be a way for Bitcoin's transparency to trickle down in ways that it challenges the status quo of financial power in the world. If things stay exactly the same in terms of its usage and distribution, i think it will be just assimilated as another banker tool.

Also, you should maybe read some of my other posts before calling me a defeatist.. Undecided I believe we are on the same side but maybe have different expectations as far as the impact of bitcoin is concerned.
1024  Economy / Economics / Re: SWISS NATIONAL BANK is the first Central Bank to own Bitcoin (via TSLA and MSRT) on: February 13, 2021, 07:55:47 AM
While all of us are allowed a bit of a flight of fancy at times, the topic is still misleading. They don't own Bitcoin directly or indirectly. This is quite creative though.
As far as central banks actually owning Bitcoin, that would probably be one of those hyperbitcoinization moments. I doubt that will EVER happen. Bitcoin will continue to go through the upheavals and so would its supporters. For example, when it gets banned in one of our countries, the flight of capital within the internal market would be spectacular. The usage then would be limited to people actually using BTC for small, anonymous P2P payments. Natural learning cycles for the community. And these need to happen throughout the world so it eventually reaches everyone.

In the coming decade, the ability to use BTC should ideally be as ubiquitous as using a mobile phone to stay in touch and manage your business. The common thing being that the richest CEO and the most downtrodden farmer make similar use of the mobile phone. That is what BTC should ideally be. Not part of corporate coffers or Swiss banks.
1025  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Is Dogecoin overpriced? on: February 13, 2021, 07:37:47 AM
DOGE has a circulating supply of 128 Billion and the total supply has no cap. Every block generates 10,000 of them per minute. They are mostly merge-mined along with LTC.

At current prices, the total marketcap is 8 Billion USD. The 8 billion USD, if split into the 150 million US tax payers would come to just around 50 Dollars per person. The US govt and other countries around the world printed and gave away trillions of dollars worth to "institutions" and "corporates".

If those trillions of dollars can come out of thin air, then i guess 50 USD per taxpayer worth of marketcap for a fun coin which actually makes people smile isn't really enough. Just for the memes, it should have higher value. Unfortunately, most of that value is generated by people trading on marketplaces and not real economic activity. If it was, I would say that DOGE is still underpriced as long as people don't hoard it.
1026  Bitcoin / Bitcoin Discussion / Re: JP Morgan once again trying to spread prevent mainstream adoption of Bitcoin on: February 13, 2021, 06:42:13 AM
Now let's examine the second part of their claim. According to JP Morgan, if Bitcoin comprises 1% of the portfolio, then the volatility can jump from 1% to 8%. Do you know how ridiculous this sounds? Let's assume that a company decides to keep 1% of its treasury portfolio in Bitcoin. Even in the unlikely scenario of Bitcoin becoming completely worthless, that would mean that the net worth of the portfolio decreasing to 99% from the existing 100%. Add in the volatility for the remaining 99% of the assets, and we get a figure of 1.99% per year and not 8%.
Suppose the portfolio comprises of 99$ + 1 dollar worth of Bitcoin.

Considering that Bitcoin price has seen a low of 4000 and a high of 40000 (a factor of 10) within a span of less than a year, that 1 dollar of bitcoin can be worth 0.1 or 10 dollars. If the rest of the portfolio remains same, the total portfolio value can range from 99.01 to 109 dollars. So they are not wrong about the "volatility" percentage.
The question is, would it be such a bad decision for a corporate to have a downside of the value becoming 99.01 and a growth to 109 as the upside. I don't know how corporates see "volatility". It'd seem that putting just 1% could be a bet with massive upside and little downside.

Although we all fool ourselves with such back of the hand calculations, its clear that we aren't gonna see so much volatility anymore with a lot of main players jumping in to have BTC as part of their portfolios.
1027  Alternate cryptocurrencies / Altcoin Discussion / Re: Is this the Ethereum killer? on: February 13, 2021, 06:18:18 AM
Binance is a giant in the Alt-coins arena, and a centralized one at that.

It has a lot of money to pour into promoting its own chain. Ethereum on the other hand has much more organic presence in the developer community. Most of the prospective use-cases for blockchain look for decentralization. So, developers adept at smart-contracts on Ethereum will continue to be valuable. This means that they will continue to build and run on it. I doubt that BSC can change this. They have the money behind them while ETH has the community. Why should it play out any differently than BTC vs BCash?
1028  Economy / Economics / Re: Economist predicts demise of global central banks on: February 13, 2021, 06:05:52 AM
However, financial and banking regulations and other monetary policies will still exist. They need to exist to a certain extent. It is in line with this that I think a sort of a central bank will still continue to serve a purpose.
Very true. Regulations in some form will always be needed because greed knows no end. Central banks that only regulate and are not filled with retired employees of wall-street banks are something that the world needs. In fact, the coziness of central bankers with their private counterparts is mostly an American invention.

All this talk about the great reset is hyperbole and are supported by the humungous figures. It is wholly possible that a lot of that money will eventually find its way into all parts of the world economy that actually need it, in the form of foreign investments into developing countries. The wealth disparity of the US has nothing to do with the dollar being the reserve currency. For this disparity to end, the people in the world's largest economy will have to wake up and do something. The WSB incident was one such point but unfortunately it was quickly painted the other way by most of the media.
1029  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN][BOND]BarnBridge:DeFi Protocol for Hedging Yield sensitivity; DAO LAUNCHED! on: February 11, 2021, 05:55:33 AM
Is there any other way to earn BOND tokens beside providing liquidity? I did not tried some farming before because of very high fees in multiple transactions needed before you can farm a token, and Is there any plans to change ethereum chain to bsc which is more cheaper fees.   
For the time being, there are three ways to earn but all involve putting something at stake:

1. Stablecoin staking: You can stake USDC/sUSD/DAI and earn a proportion of the reward. There are lot of whales staking in this pool so rewards are low. The pool has around 530M USD staked which earns 32000 BOND per week. So if you stake 1000 USDC, you will get (1000/500,000,000) * 32000 = 0.064 BOND per week ~3 USD per week. These pools are essentially risk-free except the smart-contract risk.

2. LP on Uniswap: 1000 USD worth of LP on Uniswap will get you 0.6 BOND per week ~ 30 USD. This of course has the IL and associated fees for staking, swapping, buying.

3. BOND Governance staking: The governance pool has 610,000 total BOND as reward or 50 weeks. This means, each BOND will earn 1.18 BOND in 50 weeks if the total staked bond remains at the current 512K.

Apart from Staking, the BOND community is open for anyone to contribute. The community will decide upon the rewards through governance voting. The parts are all there. It is hoped that the next set of buidlers and contributors will find a place in a natural manner.
1030  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN][BOND]BarnBridge:DeFi Protocol for Hedging Yield sensitivity; DAO LAUNCHED! on: February 10, 2021, 06:13:19 AM
The BarnBridge DAO has been activated after the threshold for 400,000 BOND staked was crossed. The TVL sits at 530 Million out of which 26 Million are in the Governance pool. Please note that these values can change based on the price of the $BOND token.

The DAO can now discuss proposals that are beneficial to the platform. The threshold to submit a proposal is quite high as you need at least 1% of the staked bond to create a proposal. Yet, you can vote and contribute towards the discussion. The product launch in the form of SMART Yield is awaited from the team.

And with these thought said, what rough plans does barnbridge's team has in mind to boost their community's loyalty?
I have talked to the team about rewards programs and waiting for their response. Will update as soon as something comes up.
1031  Economy / Services / Re: [OPEN] BestChange Signature Campaign | Sr Member+ on: February 10, 2021, 05:59:42 AM
#Proof Of Authentication
Bitcointalk Name: amishmanish
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1107844
Current amount of Posts (Including this one): 1705
Amount of merits for the last 120 days: 68
BTC Address: bc1q4u8fvk7pn2z9uxlzrn0w0qw62gvpstw8d4fmxs

Hello BestChange. You have a great campaign. Looking forward to an opportunity. Thank you.
1032  Alternate cryptocurrencies / Altcoin Discussion / Re: Why do people follow Elon Musk? on: February 10, 2021, 05:50:04 AM
People follow him because he is the biggest man in cryptocurrency
He is not the biggest man in crypto. He has less influence than even someone like CZ.

He is a successful man in cryptocurrency The coin he talks about gets his price up. a few days ago he tweeted about dogecoin and check his price where are you.
He has only ever talked about Bitcoin. It took a place in his twitter bio. With DOGE, his interest primarily lays because DOGE was popularized as a joke, meme-coin. DOGE will not continue its trajectory as there are longtime miners and holders waiting to dump it.


 I think that's why people follow Elon Musk.
People follow him because he built successful and technologically groundbreaking companies like PayPal, SpaceX and Tesla from scratch and because his life's mission is to make humans an interplanetary species.
1033  Economy / Economics / Re: Tesla Bought 1.5 B in Bitcoins on: February 10, 2021, 03:41:09 AM
The real important part of the whole story, which most people just prefer to ignore.

Is that Tesla and all the other big players buy bitcoin OFF EXCHANGES so their purchases do not influence price at all. Except for the free PR they create. They speculate on consumers driving the price up.
OTC trading is not new for financial markets. Much of the huge buy/ sells in stocks that comprise changes in shareholding patterns take place in the form of OTC deals. There are deals between two parties facilitated by a broker.
The party buying the BTC has to find the right dealer while the broker has to ensure that they can deliver those BTC. If someone bought 10,000 BTC, It wouldn't be just one person. It'll be a combination of sources. The news do get out and eventually every big buyer will pay a higher price.

I mean. In a way that is cheating. Right?
Is the difference between retail prices and wholesale prices cheating? Consider this, As part of an organization, I procured a machinery lubricant from a German company in bulk. The price i paid was almost one-third of the price printed on the package (which a retailer buying it for, say, their car would pay). 

What does this mean for the future and a new crash that could happen in the near future or maybe in 2022 or maybe in 2023?
Companies take calculated risks. That 1.5 Billion buy is filed under "Risk to operations". Though one thing is sure that companies that take such positions wouldn't easily sell below their price. So they create solid supports. As far as Tesla is concerned, they'll probably use BTC for their cars or maybe crash it and use DOGE because its cheaper to buy and transfer. Who knows.
1034  Economy / Economics / Re: The Bitcoin Price Paradox on: February 10, 2021, 02:55:01 AM
Bitcoin has no intrinsic value.
What intrinsic value did a bunch of servers running a page-ranking algorithm and a plain webpage with a single input had until it started to be used by people. The value of bitcoin is its network effect, being permissionless and unmatched record. That is not something you can simply recreate.

Its price is a narrative.
That is your personal opinion if you buy or bought any crypto because of the narrative. Many people want to pump it because of the narrative and many people fall for it. Yet, these are exactly the kind of people who we don't find here when bitcoin is at 4K.

At infinite price, we'll spend all energy on mining Bitcoin. It doesn't sound like a good world to live in.
What "model" are you referring to that says that bitcoin will have "infinite" price? Or that the world will spend all the energy on mining? Is that just conjecture or you are talking based on study and sources?
1035  Economy / Economics / Re: Indian Economy to grow at 11.5% in 2021 say IMF on: February 09, 2021, 08:30:29 AM
Post COVID, Indian population has actually seen a huge workforce which is no ready to do more for less. People have been on tenterhooks for really long. Some lost jobs, some lost relatives but there have been a few unexpected positives. The Vaccine effort and handling of the pandemic has been better than most parts of the world. There have been certain structural reforms underway over the last few years which resulted in losses to small businesses but are beneficial for the long run.

This is really just a "can't go any lower" kind of point in the curve. The only way to go is up. Wages are seeing a rebound and I expect major IT employers to announce bonuses and deferred salaries. All of this is pointing towards increased consumption in the short-term and hence the positive outlook, imo.
1036  Economy / Economics / Re: Only 2% of addresses hold 1 Bitcoin or more — Is this true? on: February 09, 2021, 08:16:26 AM
This is a quite a figure if you go by the number of addresses. The distribution looks completely insane. If you go by the bitcoinchartsinfo links, it is a disappointing picture.

This glassnode report circulating for the last week shows the distribution among holders too. According to it the shrimps, i.e., addresses that hold less than 1 BTC together hold just 4.9% of the total supply. The report then classifies holders into increasing BTC categories and shows how much of the total supply is held by the big fish.
So according to that. 52% of total coins are held by people who have 50 or more BTC. So whatever way you look at it, BTC clearly has a long way to go before real distribution. It may never really reach those levels.
1037  Economy / Economics / Re: Tesla Bought 1.5 B in Bitcoins on: February 09, 2021, 08:04:32 AM
Amazing to read. So its a pretty easy 50K from here.

While it may not be seen as a very CEO'sque move, Elon hasn't really been known for that. The "People have spoken" twitter update for DOGE is an example. He is a pretty intelligent man though and it is hard to imagine that this is just a meme-moment for him.

The report discloses investment in Bitcoin under the heading " Risks to our operations". It has also been established there that they will at some point start accepting bitcoin payments. Imagine a Tesla with an onboard computer for DOGE mining and using that as streaming payments on the Tesla console or for supercharging and battery swaps.
1038  Economy / Services / Re: 500 word articles $15 each. 1000 word articles $25 each. 1500 words/ $40. on: February 09, 2021, 07:46:39 AM
Hello. I am not looking for articles but if you have the time to invest in researching and writing articles then there are several communities where you can find a place and gradually start earning. You would need technical know-how and a good understanding of financial markets and financial engineering.

You may already be doing this if you are into crypto. It takes time but from what I have seen, sky is the limit if you have time and knowledge to contribute. I don't promise any magic but you can PM me if any of this sounds new to you.
1039  Economy / Economics / Re: The Bitcoin Price Paradox on: February 09, 2021, 07:35:59 AM
There is no need to keep miners on the profitable side neither, bitcoin wasn't created because we needed people to mine something, it was created to be a currency and we could always reach to a point where we no longer need miners and still be stable and secure as well.

A state where you don't have miners and are still secure is not attainable. The miners are the security. Decentralized PoW is the guarantee against double spends. PoS or Delegated forms of it mean that those with the most wealth control it. ETH is moving to PoS so that mining is not needed any longer. I don't understand clearly that how PoS will be secure.


We all trust bitcoin like you do, and we all love it and that is why we put on a value to it, mine came from my HUGE hate towards banks, I hate them and everything they do and everything they stand for, so I decided to go to bitcoin and become my own bank, much better option.
Right. Unfortunately, we all have to deal with banks, taxes and the whole regulation, rent-seeking shit-show imposed as part of the world order. It is not necessarily a bad thing to keep things going but after a whole century, it needs an overhaul and an alternative. Bitcoin, cryptos and these budding experiments in decentralization are people's way of letting the world-order know that all is not well and that we can see and understand their corruption and manipulations. That is why We Bitcoin.
1040  Bitcoin / Bitcoin Discussion / Re: Lost phone with bitcoin wallet on: February 09, 2021, 07:27:21 AM
I swear I wrote those down somewhere... I had a few wallets back in the day, I remember thinking I was very foolish with this one and ended up paying for it.
Lost bitcoin with no private key backed up are just that. Lost forever. You reduced the total supply is what you did. Judging from your replies, i guess you are aware of that.

If you are looking for advice to somehow track a phone lost 2 years ago, then you are in fiction territory and doesn't seem like its possible. If you want the community to play detective, you should probably explain a bit more about the circumstances. Here is something to make you feel better by comparing a fellow bitcoiners' suffering. Tongue A guy who lost 750K BTC and knows exactly where they are.
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