From 2099 till 2140 (when the last satoshis will be mined) there will only be one bitcoin mined. By the end of the century, supply is virtually fixed and limited to the maximum of 21 million. For the following forty years, miners will be mining only one bitcoin...
With most transactions (and most tx fees) being forced onto second layers, it will be interesting to see how this impacts miner incentive and their desire to secure the blockchain. My best guess is that by that time, Bitcoin will have become a minority player in the space due to its inability to evolve. This might be considered sacrilege by many, but will we even be seeing Bitcoin on the same algorithm by then? And no I'm not necessarily talking about a move away from PoW, but could we be seeing technological advances that either make PoW "easier" to achieve while still staying ahead of whatever threat it is people are coming up with (like quantum computing?). Or will tech branches simply veer away somewhere else? Bitcoin won't be what it is today for sure. But hard to predict anything when even the very fundamentals of economy, money and society might have changed then.
|
|
|
@Pams I actually lose with AA quite a bit even in Blackjack can you imagine? Splitting AAs recently just not giving me good enough BJs. Poker's always a bit funny but actually the odds are close to 80% winning but the problem gets "worse" at a full table, since the odds calculation is just 1 vs 1 I believe.
P.S. Not a statistician!
|
|
|
I'm not a big fan of much but these guy's videos always crack me a grin. I probably don't agree it's irresponsible to do price prediction, it's simply what a lot of people do, since price speculation really is the easiest thing to do, even easier than astrology too (and that takes some degree of study!).
I do think halving's purely psychological, but yeah it means little more than what the system's already meant for it to mean.
|
|
|
@toke ok I'll take you on for that. 50m GBP certainly qualifies for big money transfer in this period I think. And yes, with Newcastle on the verge of sealing black gold deals, you bet there's going to be a few big transfer requests splashing around. It all depends now on whether player and club agrees. The money's willing.
So that's $10 to you if big money transfer happens? When's the cut off date? season restart?
|
|
|
@20kevin20: I have been in it since 2016 -- wrote about it in 2013 as a journalist actually, but personally was not moved by the concept, mainly because I had spent my time reading articles about them, rather than listen to or study the discussions about them, which I eventually did in 2016. I always say it's a social experiment and I'm a voluntary participant. I'm not hardcore, probably never will be, but I like most the users who quietly use it, don't get upset over how others use it, I meet those quite regularly and I think, we're all okay if bitcoin fails -- though none of us thinks it will. I am somewhat dismissive over investors who don't actually own Bitcoin (I know a few!), they're absolutely not contributing to the network at all but hey, they contribute to the idea and the awareness of it I suppose I gotta give them that. I don't really think we can predict anything about the future, except that Bitcoin will most likely end up in ways that would surprise most of us, and upset very few of us. As long as there's a hard core defending the base tenets it has the chance to be what many hope it will become. .
It certainly does have a hard Core; banker-backed Blockstream. Good luck if you think that will result in giving many hope. As much as I hate to admit it, but this is one of the hard corer segments of Bitcoin for sure. I don't believe they're all bad (hey I like a satellite network too, for example), but you know it's hard to shrug off the taint of corporate agenda.
|
|
|
Good morning guys! Been feeling so, so guilty about sitting out entire weeks of poker, but personal situation means I really can't afford the time to sit at tables as much as I'd love to. Been watching with envy the freerolls at SB and then the weeks at SwC.
@efialtis I believe I still have one entry, but I honestly can't remember, if so, put that small tip in for the final pot, won't you? I saw your PM but I definitely can't make it tonight =(
|
|
|
Just another test, so far no success yet, and I keep saying that 9k to 10k is a meaningless road -- volume seems to always be the least in this range, it's really as if psychologically there is no difference once you hit 9k, 10k is in sight and that's what matters. Then again, this is halving rally as it appears so anything's bound to happen. So far Mr Vays wrong?
|
|
|
In case anybody likes funny charts, I've also seen "brrr" search term hit all-time highs, Bitcoin price correlation with avocados, and well, just basically any other kind of chart.
Also, bears are showing also some pretty convincing charts, so you know what, I say let's all enjoy what we can, take the risks we can afford to lose yada yada (to echo DooMAD), and don't expect. Hope's fine, but it springs eternal and dies last;)
|
|
|
but also it is partly because bitcoin users nowadays are mostly too busy speculating about its price that they forget it is a currency that they can spend too so the market places are not that crowded in times.
Sadly, that's the majority of Bitcoin users and almost the entire population of altcoin-only users. I see all kinds of discussions on LinkedIn from altcoin projects saying Bitcoin's shit and can't be used daily and nobody uses it but they're completely ignoring the fact that there are people using it every single day. But that not more people know this is simply a sign that yeah, Bitcoin users are forgetting to spend, forgetting to use. And yes, I do get it's not easy to spend it on everything but at the very least use it to send money (we all send money right?).
|
|
|
Thanks for this data. It's quite obvious their trade volume is down since last October.
True, but regular exchanges also see less real trading volume ever since the bubble burst in January 2018. And as you pointed out, it's more difficult to see what trades actually happen outside the LBC system. I still recall seeing trades that give you their contact information, where you can then just take discussions offline and still use cash without KYC. Those trades would have happened with escrow over LBC but now not anymore. So could be that it's not a case of people moving away from LBC, simply taking trades outside the system.
|
|
|
Just noticed the new site, so well done guys. Haven't played here in a while since lockdown, I'm not so big on casino games unless they load quicker so now you have the new site, any chance to do a super lite version stripping down to bare bones games without graphics/sounds etc?
I know in this day and age of fast internet, people don't mind but I'm sure there are others like me who just want to bet.
Oh, I noticed FJ doesn't log me out every 5 minutes like in the past. That just my imagination?
|
|
|
Returning here after a hiatus, curious, and well, can't say we didn't expect this outcome eh HCP? Actually, 30% loss isn't so bad, given that you've just put your money into some bot you sorta kinda knew would lose you money. How many ways to define a gambler right? ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) [quote author=CryptoSparks link=topic=5206137.msg54341096#msg543 There’s only 1 correct timing for capital increase, and is after a loss. But I do understand that human psychology tends to do the opposite. [/quote] This was almost sort of explanation given to be by someone to describe how stock markets right now continue to put new ATHs when every other economic indicator is screaming to do otherwise. I thought it was illogical but apparently, it's logical that human nature says: this is the time to put money in, even though the writing's on the wall. So when people should be pulling out equity, they're following the price, not the data.
|
|
|
Thanks for the thread guys, and yeah SyGambler's probably one of the most well-informed people on this forum, good to have his input. I've never paid attention to tipsters, paid or otherwise, though there was a period earlier on in this forum I thought to check out some of the tipsters, who have either gone inactive now or even changed/deleted channels -- which tells me something eventually went bad!
E-sports tipsters on the rise you think?
|
|
|
Can't say I don't like new options, but if it's regulated, then is it just going to be another Localbitcoins (except with other crypto too?). Curious about the bidding option, won't be likely to try it unless it means I can sell btc much faster. What's your route to compliance? Simple Estonia license of full-on FI like PSD2?
|
|
|
@DeathAngel Nah don't know much about Aguero personally but I don't think he's the kind of player who would begrudge Liverpool the title when others in his own squad believe it's won by the Reds already @toke we'll save our $10 for next season then;) @LFC_Bitcoin: Yup, thinking we'll be doing the open top bus celebration I think even in 2021. @hilarious: Quote from this article after the meet: "If the National League can find a workable solution -- average points-per-game is a favoured option -- it may trigger a similar move in League One and League Two." I don't think Prem will ever go for that but if they did, that would give Liverpool 107 points this season =p
|
|
|
27 million is a shitload of money, I still don't understand how grown people still don't use bookmarks and anyway check with 2FA to get shit secured. I got a kid who occasionally falls for typosquatting but he's got a really good excuse (doesn't and can't know better as he doesn't even type) but I thought with all the education and awareness people get, they still get tricked.
Bookmarking is really needed especially when you are visiting the same website over and over again like exchanges, online wallets and online banking, this is the main target for typosquatting. What I think of this is that, the domain providers should be accountable also for giving some people the altered domain of some famous websites, is this possible in any way? That said, Bitcoin's simply not ready for the masses when even basic internet use isn't.
This speaks a lot. This is what I'm talking about with the mainstream adoption, we are dreaming even we're not ready for it. Free market, and you can buy whatever name you want. Registrars possibly should be asked to immediately hand over any registration details for investigations, but you know, that's still doing it the wrong way to me. It's always awareness and education. Can't stop the criminals but you can preempt their moves. Even use that to enforcement advantage. Anyway, yeah moves to make mainstream adoption easier have their flaws. Make internet so that nobody needs to understand how it works, so everyone can use it but few understand what they're getting themselves into. Same as all those custodial bitcoin wallets.
|
|
|
but maybe halving is too psychologically difficult to resist.
Everywhere in crypto community, newbie to older members are talking about halving and its affect on price pump. Such a trend can easily create a FOMO you know. I have seen some buying pressure on my local crypto group too. Yeah, it's certainly a lot more discussed than the 2016 halving, which I was around for. Weeks and months went by and nobody really mentioned it. When it came, some people celebrated (halving parties) but really it was quickly forgotten. But now. Telegram. Slack. Gambling chats. People all buzzing about it, can't imagine what 2024 halving's going to sound like!
|
|
|
Ultimately gamblers are very likely to keep playing & depositing so in the end the house will nearly always win in most cases, the most vulnerable people don't seem to realise that until it's too late and lesson learnt, it's definitely sad to see and I've done this myself in the past but gambling responsibly at the end of the day and comprehending you'll be able to lose that amount is key, stake also do actually do a good job giving back to users, more than most industry standard casino reward systems, +1!
Put it more accurately, in the end, assuming there is infinity to the end, the house will win, eventually. Not in most cases, but eventually. That end could come now, or in a thousand millennia, but yeah, gamblers like me who accept that deposit and consider that money lost. And entertainment bought and paid up front for. Just like you would any other form of entertainment. So the guy in question maybe didn't realise that before, hopefully he does now.
|
|
|
27 million is a shitload of money, I still don't understand how grown people still don't use bookmarks and anyway check with 2FA to get shit secured. I got a kid who occasionally falls for typosquatting but he's got a really good excuse (doesn't and can't know better as he doesn't even type) but I thought with all the education and awareness people get, they still get tricked.
That said, Bitcoin's simply not ready for the masses when even basic internet use isn't.
|
|
|
I wasn't dumped hard. We may have to wait a little longer within a week to see if it goes back to $6k, it would be very shocking to see if it's going to drag its price below it. If someone really will dump his stash I'd be holding for a long time then. Crazy shits happen when you know the price is pumped this way. It's just not normal to see it go extreme swings up to 18%.
Exactly, I mean yes, 9400 to 8700 seemed like a huge 700-dollar drop but gotta remember we've been pushing and pushing for so long, the retracement was bound to happen, if it were a dump, we'd have pulled back to low 8000s for sure. Good signs of strength on Friday, I'm guessing we'll see a return of the weekend bulls.
|
|
|
|