Neither Leonidas, [b)Udi Werthimer[/b] or Cointelegraph mention that most of the "inscriptions" are actually BRC-20 mints, which are people paying an inscription service to mint useless pump n dump tokens on their behalf. What happened to Udi Werthimer? Why does he look as though he "hates" Bitcoin? Maybe LN will do the trick down the road.
Not much further down the road, though. We're already pretty close by the looks of it. If this stuff has to exist, it should arguably do so in the most optimised way. That's what this protocol appears to offer. The silly-picture-selling crowd just need to utilise it. But the silly-picture-selling crowd doesn't want to store their pictures in a offchain layer. They want them in a highly secure bank-vault, which the Bitcoin blockchain provides. That's probably what will give them their "value". |
|
|
|
People invest in Bitcoin for some reason and they would sell them when they are in need. We can't stop them either nor urge them that just hold because some of these investors are weak, they will easily get into panic once they saw a decline. But I don't see it was a problem because this is really how the crypto market works and this is how the volatility showed to us. It is definitely we can't see Bitcoin keep on high but we also see its price dump for any reason that is why we always have to be prepared for what will happen next.
These individuals claiming to be investors have to understand what investing is all about, if they don't have the behavior of investor they should stop lying to their self because it'll hurt them in future. They shouldn't be investing with money that they can't lose because that's only when the market dumping can cause a panic because they have gone to over invest amount they can't handle losing. Investing should be done for long term because that's when you can get the best profits. For the crypto market to be active, there has to be buying and selling going on daily but it must not come from you as we have those that trades and make money from the market daily. Those traders are responsible for the activeness of the market and not you, an investor. That's the sad truth. That's probably why the age demographic for most Bitcoin owners who will have more probabalities to make it through to the next bull cycle without selling are in their 20s or 30s, and single without anyone depending on them in financial matters. Perhaps it's also why many people gamble in very volatile shitcoins on leverage. BUT most of them end up with no profit. It would be more productive to save and HODL Bitcoin, and it's a safer way to use limited capital. |
|
|
|
Tin-foil hats on. The United States Government and the Federal Reserve might be doing everything on purpose to get a credit downgrade and cause China and the other debt holders to dump U.S. Treasuries. Then they raised interest rates which restricted the supply of U.S. Dollars. Because of restricted supply, its value will go up sooner or later. Probably once the value of the Dollar is high enough, and the value of U.S. Treasuries are low enough, the Federal Reserve turns the money printer on and prints trillions of Dollars to buy all the cheap debt in the market.  |
|
|
|
They said Bitcoin will "never recover".  Look at the red dots in that chart. After the recent "mini-crash", expect another few months of "it is dead"/doom and gloom towards Bitcoin from respected economists, the morons from legacy finance, and mere FUDsters. There are many of them, and ALL of them were always proven WRONG AGAIN AND AGAIN. Just HODL! ? We tend to look this guys only from one perspective but the truth is that, to them it is all about a game of profits. They don't attach emotions and are never loyal to anything. It might seem that they were proven wrong time and time again but they might actually be balancing their books in the whole thing. If you pay close attention, you will noticed that Elon Musk seems to have deployed that method to cash out. Don't be surprise if he comes back again and accumulate Bitcoin citing one uncoherent reason for coming back... but then, he would have bought very low to sell high fee years from now. This guys are playing money game... I believe not, because most of those "orbituaries" are made by nocoiners - People who either haven't used or owned any Bitcoin. Plus they say that from a viewpoint that doesn't have any understanding how the protocol works, nor do they understand how unique and special Bitcoin is. It's probably like the invention of the printing press, the automobile, and the internet. People had their criticisms because they simply weren't open-minded. They said Bitcoin will "never recover". Look at the red dots in that chart. After the recent "mini-crash", expect another few months of "it is dead"/doom and gloom towards Bitcoin from respected economists, the morons from legacy finance, and mere FUDsters. There are many of them, and ALL of them were always proven WRONG AGAIN AND AGAIN. Just HODL! I guess that you are making a certain kind of point with the chart regarding ongoing wrong bitcoin price predictions, but wouldn't it also be a good idea to provide a link to the chart so that we can see from where you get it and maybe some other context for the various dots within the chart? That chart is not about wrong" price predictions". It's about simply being wrong about Bitcoin. |
|
|
|
They said Bitcoin will "never recover". Look at the red dots in that chart. After the recent "mini-crash", expect another few months of "it is dead"/doom and gloom towards Bitcoin from respected economists, the morons from legacy finance, and mere FUDsters. There are many of them, and ALL of them were always proven WRONG AGAIN AND AGAIN. Just HODL! |
|
|
|
My only choice, PX-Z.  I like it, it looks like an old ripped pirate flag. Can I try to use it for one day? |
|
|
|
During economic crashes, EVERYTHING sells off. I mean, everything. Let's go back to 2008..nothing was safe. I remember selling a nice Rado watch because I simply needed the money for like 25% of what I paid for it, because that the best offer I could get. All collectible items were dirt cheap for years (still regretting not buying a Babe Ruth card I really wanted, plus the Michael Jordan rookie card..they were dirt cheap).
Bitcoin is still a highly volatile asset. Not only am I certain it will crash, it will crash harder than most asset classes.
That's true under most circumstances, but the current technical recessions that have been happening in some regions of the world are different from 2008 because of inflation. And currently it's sticky because there's too much money in circulation. IE the Netherlands. They are currently under a technical recession but inflation is at the upper-bound limit making the situation more complicated. Do they ease monetary controls to help the economy, or do they tighten to get the job done to control inflation? If they ease they might risk their currency go into hyperinflation, and if they tighten they risk their economy fall into a depression. |
|
|
|
It's going to be very hard to prove/disprove that without going too technical about it, won't it? Can someone, preferably from people who actually use Samourai Whirlpool, to ELI-5? You want to coinjoin 0.052 BTC. Whirlpool creates five outputs of 0.01 BTC, which are each coinjoined separately. It also creates a change output of 0.002 BTC. (Ignoring fees for the purposes of this explanation.) The change output is sent to a separate account, precisely to keep it separate from your coinjoined outputs. It is called toxic or doxic change since it is not coinjoined. This is done deliberately to keep your coinjoin outputs of a standardized size (4 sizes you can choose from) and completely fungible. Samourai and Sparrow wallets prevent you from spending this change alongside coinjoined outputs. You can then spend or dispose of this change in a variety of ways: https://bitcoiner.guide/doxxic/Kruw likes to misrepresent this very deliberate design choice as some kind of critical flaw, either because he simply does not understand how Whirlpool works, or because he has no issues lying about his competition. But ser, that's just a website you yourselves maintain. The link at the bottom literally says to download Wasabi Wallet to try CoinJoin. Where's the other CoinJoin apps?
More absolute lols. "Look at this open source site which explains the pros and cons of every implementation!" - links to a site owned and operated by the Wasabi team which literally only links to Wasabi.  Completely in keeping with Wasabi's utterly disingenuous behavior. Everyone arguing with him should probably confirm if the identity of who you're talking to is really who you're talking to. I don't think a real developer of a more "serious project" would waste their time in a debate that will not go anywhere. Plus his latest posts have become like he's currently trolling everyone, no? |
|
|
|
What are you thinking about it ?
Miners are not the only ones benefiting from higher transaction fees but some altcoins and exchanges, in 2017 there was a high volume of hashtags to support the BCH hypothesis and prove that Bitcoin is not suitable for everyday transactions. Miners are the weaker party in the spam attack, as they do not make a profit from it, but on the contrary, the spam transactions that they make make the block full, while it could have been to include more transactions in that block and earn more fees. If you think the fees are high, stop sending transactions. It's ironic, and laughable, that those who support the "BCash hypothesis" is making an example of something that gives a stronger debate to regulate the size of the blocks. |
|
|
|
We have been scared of a recession for so long that we can hardly believe it anymore. A technical recession is some kind of imaginary recession. I am sure that soon the news background will change - and in the short term, speculators, as always, will be on the plus side and alarmists will be on the big minus side.
Imaginary? No it's not, ser. There's nothing imaginary about a country's GDP going down for two consecutive quarters. What it should really be is a warning that people should start saving and put some of their savings in safe haven assets like Bitcoin because inflation is still high. It's not really a "technical recession", it's Stagflation. That should make people worry more. |
|
|
|
I read the whole article and it was super interesting and informative too. The result of that article which I concluded is: Anyone could make transactions, anyone could make blocks, anyone could do mining, blockchain does not care either those transactions or blocks have anything to do with good or bad purpose or use cases. All blockchain's nodes matters is of transactions is invalid then they will not send it to the next 8 peers and if one keep making invalid transactions then that address will be banned automatically to avoid spamming. And same mechanism goes for Blocks. Like people could make only heading or header name for a new block but to proof that either the work has been done or not the Proof of Work (POW) is confirmed by confirming the hash number with special numbers (special numbers that are used in the YT Video included in that article). If the work is done, then the block is validated by nodes and the data is send to others for validation otherwise if it is invalid then it is not shared in the network. Overall, there is no single entity could judge why the transaction is being made but all that matters here is either the transaction or blocks are validated or following the rules or not if not then they will not be added if yes then they will be added. Please correct me if I took the conclusion wrong here. More simply, and from Bitcoin's technical viewpoint - As long as the transaction follows the consensus rules, it will be broadcasted and it will be included in the blocks for confirmation. No prejudice, no stereotypes, just Bitcoin transactions that you may approve or disapprove of. |
|
|
|
If I look at history, there is no investment instrument that maintains value at the beginning of the crisis. Bitcoin is also on this list, and there is no guarantee that the recovery history until it gets a new ATH will be repeated.
Ideally, you can think of any safe haven if the crisis has been going on for some time and you've convinced yourself that your survival will be fine for a potential longer crisis.
As a Bitcoin HODLer, what would you advice your fellow HODLers should be holding during times of crisis? Cash/Fiat? That's probably a practical move, but that won't be a "safe haven" in my opinion, that would be a hedge to limit the drawdown from HODLing Bitcoin, the actual safe haven. Because,  I said at the beginning of the crisis, not during the crisis. What I'm really worried about is that people are converting their wealth too soon into bitcoins which they consider "saev heaven", while the crisis is still just hearsay. It was suicide based on the history that I explained earlier. On the other hand, I'm not saying bitcoin isn't a viable investment during a crisis, precisely it is a good opportunity to double wealth. The question is, could the average person think of increasing wealth under such circumstances? OK, I believe that we're talking about different categories of crises. You're talking about the usual Boom/Bust Cycles that happen every time an economy is "over-heating" caused by too much money in circulation. What I'm talking about is a kind of financial crisis like what happened in Weimar, Germany, or to those countries that are currently suffering from hyperinflation. It's always better to be prepared and HODL some Bitcoin as a fall back than having none. |
|
|
|
Or Samourai Whirlpool Samourai Whirlpool is not private, it produces traceable change and reveals common input ownership. It's going to be very hard to prove/disprove that without going too technical about it, won't it? Can someone, preferably from people who actually use Samourai Whirlpool, to ELI-5? Plus instead of debating again and again that goes nowhere, why not open a topic/guide that compares different CoinJoin wallets and illustrate the pros and cons of each? That would be a more constructive solution, no?
That's what the open source project https://www.coinjoins.org/ is dedicated to. But ser, that's just a website you yourselves maintain. The link at the bottom literally says to download Wasabi Wallet to try CoinJoin. Where's the other CoinJoin apps? |
|
|
|
If all you care about is keeping your Bitcoin private from the people you spend it with (even if you forfeit control of your money and data) then why don't you use a Bitcoin exchange instead of a mixer?
Because, almost every exchange I've known cooperates with blockchain analysis firms, and tries to de-anonymize every activity related to you. But, using a decentralized exchange (like Bisq) to do BTC <-> XMR swap may not be a bad idea. The tl;dr is that it's a lot less effective and more expensive. Or Samourai Whirlpool, and soon, CoinJoin Splicing using the Lightning Network which could probably be more private than Monero if it reaches a larger anonymity set. Plus instead of debating again and again that goes nowhere, why not open a topic/guide that compares different CoinJoin wallets and illustrate the pros and cons of each? That would be a more constructive solution, no? |
|
|
|
If I look at history, there is no investment instrument that maintains value at the beginning of the crisis. Bitcoin is also on this list, and there is no guarantee that the recovery history until it gets a new ATH will be repeated.
Ideally, you can think of any safe haven if the crisis has been going on for some time and you've convinced yourself that your survival will be fine for a potential longer crisis.
As a Bitcoin HODLer, what would you advice your fellow HODLers should be holding during times of crisis? Cash/Fiat? That's probably a practical move, but that won't be a "safe haven" in my opinion, that would be a hedge to limit the drawdown from HODLing Bitcoin, the actual safe haven. Because, |
|
|
|
But again I tell you, using Bitcoin to buy Heroine from the dark markets is actually one of its greatest use cases to illustrate censorship-resistance - the network's main value proposition. That it can't be shut down even if it's being used for "bad use cases" shows that it works.
But if BTC continues to be misused like this then authorities will take some bold actions against it Misused"? Who said it's "misused"? The participants in the transaction were merely using Bitcoin in a way that you don't approve of. And if the authorities should take some bold action against it, then it should first take bold action against the Banks because the most used currency for crime is? FIAT. but i think your intentions are just to show that BTC could be used for anything, and those authorities still cannot do anything at all and i am agree with you.  No, my intention was to show technically how and why Bitcoin could be used for anything, read this write up by StopAndDecrypt, https://medium.com/hackernoon/bitcoin-miners-beware-invalid-blocks-need-not-apply-51c293ee278b |
|
|
|
Disregards the majority? Although BIP-148 was controversial, SegWit was still wanted by the majority. It only became a necessary "movement", or a kind of "mechanism" for SegWit's activation, because Jihan Wu and the mining cartel were playing political games by using miner signalling as a political tool which delayed activation.
"want" can not be some abstract idea in a decentralized ledger. It must be explicitly expressed through voting and any proposal that requires/enforces a fork like BIP16, BIP148, BIP341, etc. must be activated after checking those votes. BIP148 does NOT do that! In other words whether or not the majority wanted SegWit is irrelevant since BIP148 did not even care about that which is what leads to chain-splits! Of course it doesn't do that and of course there were risks, BUT without the actual campaign for a UASF, there wouldn't have been a BIP-149, or the NYA, or the economic majority and the users wouldn't have started to have the urgency to want for SegWit to be activated. The miners would have delayed it further, playing political games by using signalling as their tool. |
|
|
|
Bad uses? No ser. It's technically Bitcoin's greatest uses. It shows that the protocol actually works! Because if not,
Bitcoin would have already been shut down like the Liberty Reserve many years ago.
No i am not talking about BTC to be shut down instead i said Silk Road has been shut down due to bad use cases. And to prove that BTC cannot be shutted down we do not need silk road as an example we can see the SEC chairman Gary Gensler (the Saviour of criminal world hehe) said in his many meetings that BTC is not a security they are not even thinking to touch BTC and another proof is BTC's market cap many times surpassed many big companies before which really shows the potential it has to stay forever in the market. But again I tell you, using Bitcoin to buy Heroine from the dark markets is actually one of its greatest use cases to illustrate censorship-resistance - the network's main value proposition. That it can't be shut down even if it's being used for "bad use cases" shows that it works. |
|
|
|
OP, zoom out Bitcoin's chart to the maximum and tell me if that isn't a safe haven.
So, we need to zoom out past the period of economic crises that has set it to see the "safe haven" aspect. Kind of....weird, let's say at least, isn't it? Zoom out past the period of economic crises? No ser. You zoom out to see the REAL trajectory. Because we don't have more than 50 years of data for Bitcoin, let's use, GOLD - Zoom out to the maximum. https://goldprice.org/gold-price-history.htmlThe DOW JONES AVERAGE - Zoom that out to the maximum. https://www.macrotrends.net/1319/dow-jones-100-year-historical-chartThat's the trajectory WITH ALL the economic crises in their history. Why? Because unlimited fiat. Plus in a philosophical level, didn't Satoshi build Bitcoin because "Chancellor on brink of second bail out for banks"? - The network has ossified towards only 21,000,000 coins to be mined and there's unlimited fiat. BRRRRR. With Bitcoin's growing popularity, adoption, and demand, where will its trajectory be in a zoomed out chart? Down? |
|
|
|
|
Show Posts
