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1041  Other / Beginners & Help / Re: Investors, what metrics of BTC you constantly monitor? on: July 18, 2023, 04:00:55 PM
Well, there seems to be a lot of metrics build on market data. Some of them are easy to understand, some not. I guess there is not metric that will tell you ultimate situation on the market. One needs to take them with the grain of salt. Anyway what are the metrics you constantly monitor in order to be updated on current market changes? What tools you use to view those metrics? 
Since you mentioned investors then probably they are sure about the fundamentals which means they don't have to play for every events which creates temporary price fluctuations and just stick to what they planned to, so I am going to say it's just the price no need of anything else.
1042  Bitcoin / Bitcoin Discussion / Re: Lightning Network Wallet: A Feasible Solution for Speed & Scalability Issues on: July 18, 2023, 09:46:59 AM
Lightning network transactions are not offline, they are online transactions. But probably what you are trying to imply is that they are off-chain transactions. Yes, thru are off-chain transactions.

What did you mean by liquidation?
Yeah you are right I mean off chain not offline.

I meant the funds required for the transactions on the channel should be loaded first as liquidation, however some people are not aware of that when it comes to lightning network and think that everything happens off-chain so the fees are absolutely zero.
1043  Bitcoin / Bitcoin Discussion / Re: Lightning Network Wallet: A Feasible Solution for Speed & Scalability Issues on: July 18, 2023, 07:19:35 AM
First of all for people to keep sending their BTC back and forth the channel should be kept open also not all the transactions are offline since the liquidation required for the channel should be done on-chain and should keep it funded to make the transactions.

Electrum Lightning Network walkthrough
Basics of the Lightning Network
The Lightning Network FAQ


Anyone who wonders where to spend their BTC via Lightning network can check out this lightning network stores
1044  Other / Beginners & Help / Re: Threats and vulnerabilities in Bitcoin security on: July 18, 2023, 04:43:00 AM
I guess it will be appropriate if you edit the title as Security concerns" instead of vulnerabilities since all those points are mentioning about keeping the bitcoin secure nothing about the bitcoin network itself which summons that the Bitcoin network is not vulnerable since

  • Bitcoin's security model is built on decentralized consensus and cryptographic principles.
  • network's resistance comes from the collective computational power of miners and the sophisticated cryptographic algorithms that secure transactions.
1045  Bitcoin / Bitcoin Discussion / Re: [Question] Bitcoin More decentralized than Ethereum? on: July 16, 2023, 04:09:25 PM

But whether all miners get together and carry out a 51% attack or all validators get together for a 51% attack is basically the same, it is possible with both
.
.
.

Maybe it's just a matter of faith like religion, some believe in Bitcoin, others in Ethereum and some in both or neither

Let's assume if someone wants to execute 51% attack over bitcoin network then they approximately need 181 EH/s of hashing power it is equivalent to hash power produced by 1 Million powerful ASICs so imagine it will need around 10B dollars for the product cost alone and then the operating cost which will be like another 5B and they have to keep running the ASICs to keep their control over bitcoin network, once they stopped all the blocks reversed will be confirmed again so its like they just wasted billions to hold the network for a while so its like they need unlimited amount of money to take control of bitcoin forever.

If it is executed on the Ethereum network then the attacker needs 10M ETHs staked which is around 20B and if once the attacks start then a voting process needs to be taken to reverse those validated blocks (correct me if I am wrong guys).

Bitcoiner2023  so both are decentralized however you can differentiate which one is impossible to attack than the other.
1046  Bitcoin / Bitcoin Discussion / Re: [Question] Bitcoin More decentralized than Ethereum? on: July 16, 2023, 10:53:09 AM
It is because the proof of work concept is highly diversified, impossible to launch 51% attack so Bitcoin seems highly decentralized where as Ethereum is now running based on Proof of stake which involves the block validation process only by the validators.

Full node has nothing to do with the decentralization because it only verifies the data of blockchain so if one is trying to tamper the data it will eliminate from the network so higher the number of nodes will ensures the tamper proof netwotk.



So the only point why Bitcoin is more decentralized than Ethereum is:
The Bitcoin Full Node is cheaper than the Ethereum Full Node ?


Again the answer depends on the validation process since bitcoin runs based on Proof of Work concept in that miners compete to solve complex mathematical puzzles using computational power. This competition requires substantial computational resources, such as specialized hardware and electricity. As a result, PoW networks tend to attract a larger number of participants who contribute their resources to secure the network. This distributed participation helps in achieving a higher degree of decentralization.

Proof of Work vs. Proof of Stake: understanding the key differences
1047  Economy / Trading Discussion / Re: your opinion about the current fees on: July 15, 2023, 03:52:48 PM
Hello , we're  all seeing the rising fees when it comes for crypto payment , as an example : "buysellvouchers" got it's fees from 0.4% to 0.5% when buying , and if we include the network fees too, it starts to add up , so i'm here to ask about your opinion on the best crypto to use to get less fees and be optimal , is it bitcoin ? LTC, or simply usdt ? especially when trading big amounts ( i'm pointing the treatment speed and value ), thanks for your replies.
This fee rise are enforced by the platform so it has nothing to do with the blockchain network so if you want lesser fee then change the platform you choose to trade as well as try changing the payment modes, usually bank transfers are cheaper with crypto<=>fiat so always prefer that if possible.

Also, prefer the platforms with Lightning Network deposits which enable you to transfer funds with the negligible fee to know where the lightning network is accepted please refer to this site lightningnetworkstores.com.

P.S. Don't bother trying any tokens on the Ethereum network since the network fee itself is highly insane compared to other blockchain.
1048  Economy / Gambling / Re: Where should I play? Asking for recommendations. on: July 15, 2023, 11:17:26 AM
I  can recommend gamdom.com. No kyc there, gl wherever you choose

But the platform may ask for Identity verification in case of a refund request initiated from the player as per their ToS
We reserve the right to withhold any refund or reverse transaction until a User's identity is adequately established to our satisfaction, in order to ensure that any payment made to Us will be honored after a refund has been made. The User agrees to provide, in case We demand, a notarized identification, or any other certified identification in accordance with the applicable laws of the User's jurisdiction. If such notarized or certified identification is not provided within 30 (thirty) days of our request, then such refund or reverse transaction shall not be effected; the User's Account shall be closed and the User shall forfeit all funds in User's Account, such decision shall be final, binding and not subject to appeal. If the KYC process fails, we can further discuss the proceeds of a refund

And also they strictly prohibit usage of VPN as well
Quote
You have no right to use the services as anonymizing proxy, VPN or the like in order to bypass the law resulting from the blockade by Gamdom.com countries. In case of violation of these principles Gamdom.com reserves the right to block and / or immediately close the account and You lose all wins.

With due respect, it may not be the best recommendation for those who don't want to comply with KYC.


1049  Other / Meta / Re: [BAN APPEAL] UID: 1047338 / 2221175 on: July 15, 2023, 09:07:01 AM

There's no way for the mods to miss those reports, if they miss it they should be fired because they're not professional. Most of the case when you report the plagiarized post, the mods will delete it, but they will not ban the account especially if the account is high rank.

I can understand about the second chance, but I still remember there was an user plagiarized 7 posts and the reporter post in a different time frame. That's like the mods give the user for third chance, obviously not fair with user which get banned easily by plagiarized one short post.
Handling a report is not an easy task for the mod especially if its related to plagiarism cause they need to be sure that its actually plagiarized content with clear evidence it is going to be easy for them however due to the load they might miss it, imagine they need to review thousands of reports every day for various reasons.

AFAIK, once the mod confirms the content is completely plagiarized with intention not by mistake the post will be deleted along with permanent ban, no warning as far as I remember.
1050  Other / Meta / Re: [BAN APPEAL] UID: 1047338 / 2221175 on: July 15, 2023, 07:16:26 AM
Considering how many first offender accounts are still not banned, even if there's crystal clear evidence, like here, here or here, banning HedgeFX after his alt P2Pfinder got already banned, would be very inconsistent. Even first offenders don't get banned if there's crystal clear evidence.

Basically, P2Pfinder / HedgeFX got his initial punishment already by getting P2Pfinder banned and after that, HedgeFX learned from that mistake.
In my opinion, there's enough punishment already by banning P2Pfinder.
I'm not a friend of this ban evasion rules anyways, especially because it has been enforced on a very irregular basis and it's pointless for this autoban bullshit anyways.

And with all those first offender accounts still not banned, banning HedgeFX and basically giving a double punishment to OP, would be very inconsistent in my opinion.


So the right thing is to ban all the offenders who violated the plagiarism rule and if the admin or Global mod thinks that the person may deserve a second chance due to the contribution towards the forum then they can give an excuse for them.

Probably mods missed those reports that is why bthose users are yet to be banned but if we report them then it is likely to receive their perma ban. Well, let's see what is the opinion of mod about this cases! Smiley
1051  Economy / Exchanges / Re: LocalBitcoins asking to verify account on: July 14, 2023, 08:32:53 PM
Today I received a mail from LocalBitcoins with the subject "You have bitcoins on LocalBitcoins - Check your account verification"
I don't remember if I had any bitcoins left there and also the LocalBitcoins already closed their service a long time back.

What is the point of sending this email and what could be the possible reason for this  Huh

By the way, this email came from no-reply@localbitcoins.com and I guess this is no phishing attempt as it is a legit address. Although there was a button "Verify your account" in the email, I did not click on it.
I was using LBC until the closure of their services completely and I did had some dust account never bothered to withdraw them cause the amount is actually lesser than the withdrawal fee but never received any email from LBC about that so I guess the email you received is not from official and someone is trying to impersonate with the intention of collecting your credentials.
1052  Other / Beginners & Help / Re: Have you ever been scammed ? on: July 14, 2023, 07:18:19 PM
Snip~

Is it like the old spam e-mails when people said they had a blocked inheritance and had to pay the fees to unblock it? Because otherwise I don't really see what it's all about. Why anyone would pay $50 to unlock funds on a CEX just doesn't make sense (I guess I didn't quite understand the principle of this scam).
Surprisingly lot of people fell for this scam in the past years but I am not hearing about this type in the recent days or atleast in the bitcointalk so people are more informative and start thinking about things instead of beleiving it completely.
1053  Other / Beginners & Help / Re: Have you ever been scammed ? on: July 14, 2023, 04:37:51 PM
Am I forgetting any?

Has this happened to you or someone you know ?

Deceiving scams is also executed on many occasions especially targetted towards which is someone who will contact you on telegram, Facebook or in any other way and seek your help to withdraw their coins because they will claim that its stuck on the exchange or any platform and their country is not letting them to withdraw it and even they will show their profile and will give access to it but all of them were masked and it is under control of the one who is contacting you.

They will offer 50/50 to withdraw the amount so you will say okay and get the site credentials from the random person then you will try to withdraw but the support says you need to deposit $50 or $100 which is a red flag straight away but due to the amount, they can make most people will be deceived and fund the address provided in the screen, once you send it then there you are scammed!

I received such kind of offers lot of times and many were too so I think it can be added too in OP's list.
1054  Bitcoin / Wallet software / Re: Trust Wallet Alternative (multi currency) on: July 14, 2023, 08:07:47 AM
I didn't try this wallet but I think they're almost the same features as the Trust wallet.
Has anyone tried Mycelium wallet?  If ain't wrong here it is an open-source wallet the same as the Trustwallet.
AFAIK trust Wallet is not completely open source whereas Mycelium is however this is not safe for storing cryptos for long period as I said earlier cause it is prone to attacks also user feedback of mycelium android is not great cause it is filled with a lot of glitches and even many people claimed that they can't see their balance even after enough confirmations.
1055  Bitcoin / Bitcoin Discussion / Re: Hodling Bitcoin on: July 13, 2023, 01:44:18 PM
Bitcoin hodling is something almost everyone on this forum is eager to partake in or already partaking in.
However I did some research and discovered most forum members do a lot of Bitcoin transaction, and sometimes leaves them with little or no hodlings in their wallets. Of course Some on the other hand have most of their Bitcoins as hodlings in their wallets  although they still transact with Bitcoins . Holding Bitcoin is a choice however for those that have Bitcoin holdings how do you manage to minimize Bitcoin transactions to increase your hodlings.

Though hodling Bitcoins can be tempting to transact with sometimes
I don't know how you gathered information about forum members don't have any balance in their wallet, did you tried the address which is in their profile or signed in message for authentication in case if they want to recover their account then you are wrong. I don't see any reason for anyone to disclose their primary address even the secondary addresses cause it will deanonymize them and voids the purpose of privacy m
1056  Bitcoin / Wallet software / Re: Trust Wallet Alternative (multi currency) on: July 13, 2023, 12:32:08 PM
^^Sorry for the wrong information, I haven't checked the wallet for years since not really a fan of using the multi crypto wallets so just only noticed the changes made in the source code which is no more public since 2021 if I am not wrong so as you guys said it's not the best alternative to another closed source.

So what are the existing multi crypto wallets?
1057  Economy / Economics / Re: Can Twitter Stock Experience the same Rise? on: July 13, 2023, 11:33:59 AM
Some few days ago, Mark Zuckerberg launched a new app called Thread. The whole netzines are wondering what his intention. Could this be an experiment. The shocking though expected of it is that a few hours after it was launched, it recorded success both in the number of users who signed up to use the app and most importantly on Meta's stock. However, looking critically at the app we can it is obvious that it is merely Instagram clone.

We already know that there is some bad blood between Meta and Twitter. Or Mark Zuckerberg and Elon Musk. Given this, I would like for us to discuss this, if Elon Musk decides to launch a clone of Twitter app, do you think it would achieve the same level of success in terms of user base and Stocks considering Elon's controversial history with Twitter?

- https://www.forbes.com/sites/brianbushard/2023/07/05/meta-stock-soars-to-18-month-high-ahead-of-instagram-threads-launch/
Until now the app called thread is unusable like there is no search apart from user profiles and also most of the users are redirected from Instagram which is also owned by Meta/Mark so the numbers are too huge with no engagement at all. To keep the members alive they need to make changes as soon as possible or else the threads app will become just another Instagram.

Twitter is also struggling due to multiple factors and Mark took this as opportunity to launch a killer app.
1058  Bitcoin / Wallet software / Re: Trust Wallet Alternative (multi currency) on: July 13, 2023, 10:22:41 AM
Guarda wallet is also a noncustodial, open-sourced wallet that supports 50+ coins also with purchase features with multiple options so it is a good alternative for trust wallet but keep in mind it is not safe as other types of wallet since the device we install this wallet has to be connected with internet to access the assets which make them vulnerable to attacks.
1059  Other / Beginners & Help / Re: See Binance laughable tweet, but deceiving newbies on: July 12, 2023, 06:24:18 PM


If you do not have the private keys and seed phrase, you do not have the freedom. With centralized exchanges, no freedom.


I don't see anywhere in the tweet Binance claimed themselves as a wallet or they ask anyone to use their exchange for storing.

They just mentioned #Binance was created to achieve freedom of money for everyone. but the literal meaning can be anything for example with that statement they can portray that they allows users to purchase crypto assets with ease so they can experience the freedom of money.

I am not supporting Binance or saying anything against you but no one should take the tags as fact especially when it posted by themselves.

It is like we are accepting 1xbit is the most reputed crypto Gambling site. Grin
1060  Bitcoin / Bitcoin Discussion / Re: My First Wallet. on: July 12, 2023, 04:05:06 PM
OP, based on the search I have carried out for the best hardware wallet to use, Trezor has always been the top reference. Even a few old folks that I happen to know as old-time Bitcoiners use the Trezor. Safepal is not usually at the top of the list of recommended hardware wallets, and I believe the reason why it's so is because it's not very safe compared to Trezor and Ledger.


Cheers 🥂, Dr.Bitcoin_Strange 👺👺

Ledger is toasted my friend, not recommendable anymore, maybe you aren't aware of what just happened with ledger hardware wallets? I have this feeling that anything can still happen to any wallet at any time, the moment you start using them is the safest, the long er you use them for the weaker they get, this is just how I feel and that is why I use a wallet not more than a year and I switch to a freshly created wallet, I still have hardware wallet though but I prefer spreading my assets out instead, Vulnerability can happen at any time, even with open source secured wallets.
The wallets will be safe forever until you keep the private keys secured but the problem with hardware wallet is we need to trust the manufacturer for the data we are giving while we buy and IP logs used to buy are stored in their online services so just like any hacks the data stored in the Trezor and any trusted manufacturer may be stolen and it will be a threat to our privacy. So you can keep the assets safe even with data leaks cause the private keys are stored in the device alone not anywhere in the online just like our data.
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