Firstly the Bitcoin total supply us not 21 million but is actually 20999999.9769 BTC which is then rounded up to the closest whole figure ehiu us 21 million. Then to the reason for why ~21 million was chosen it was most likely just a random number which was the result of the aggregation of the coinbase rewards starting from 50 BTC and then gradually getting halved every 210,000 blocks until we get to zero. Check out this thread for more information - https://bitcointalk.org/index.php?topic=1090560.0Thanks for the share mate. I just went through the thread to which you referred us. It seems there are number of justification for the 21 million number and thus lot of theories behind it. However, I see that every one is trying to add up and substract the numbers, years, time in minutes, and much more! I think math's is funny language for this very reason. There is one problem and you can have N-number of solutions for the same. It's but obvious that we will never be able to look at the correct answer. The closest one seems that it's just random number with block reward process as described by @Upgrade00 Some of the quotes from earlier discussion: It gets as interesting as you keep on digging more. Start with a block reward of a nice simple number of 50 BTC per block.
Then every 210000 block (approximately every 4 years if blocks are generated on average every 10 minutes), cut the block reward in half and throw away any decimals after the 8th decimal place.
So after 210000 blocks you will have generated 50 * 210000 = 10500000 BTC
Then after another 210000 blocks you will have generated another 25 * 210000 = 5250000 BTC for a total of 10500000 + 5250000 = 15750000 BTC
Then after another 210000 blocks you will have generated another 12.5 * 210000 = 2625000 BTC for a total of 10500000 + 5250000 + 2625000 = 18375000 BTC 4 years / 10 minutes ≈ 210 000
50 + 25 + 12.5 + 6.25 + ... = 100
210 000 * 100 = 21 million A double precision floating point has 52 significant bits so is capable of describing every number between 0 - 4503599627370496 exactly.
Or converting that number of satoshi's in Bitcoins this gives
45,035,996. 27370496
So whilst he could have use 45 million my guess is that the maths of starting with 50BTC and halving came to ~21 million which is high enough to use the full range while giving some room for error such as someone doing
( coins in circulation + satoshi's stash ) / 2 and not worrying about overflow errors. |
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I am not sure what the number says because there seems some conflict between the operational charging station and experimental charging station. I just hope that this idea gets fully implemented because it does sound very futuristic and possible to happen soon. If they do install Bitcoin wallets on every charging station then man it's gonna look nice and its gonna work best! Good for the Bitcoin and Bitcoiners like us. Imagine the number of transactions that will happen on the road everyday.
Yes obviously if we look even further then it could also house the Bitcoin ATM so that transactions related to fiat-BTC can also increase and they will start to co-exist! I don't think then we will have any regulatory issues along the way if it works and people start responding positively towards it.
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In the recent news a crypto influencer named Richard Heart was sued by the SEC because he found guilty using the investors crypto fund to buy personal leisure's. This includes luxury car, 555 karat Enigma Diamond, luxury watches etc. When the estimate is calculated it comes to be around ~12 million in USD. The money trail is very simple. Heart published a brand new project under HEX business name that is unregistered and with the product PulseChain. This project is for the investors who wants to have wealthy lifestyle. As we know, crypto is full of interested people, and they ended up investing lot of money into the project. Heart successfully raised $1 billion through the project mentioned above. From this money he started buying the mentioned assets that includes: $534,916 McLaren sports car,
$314,125 Ferrari Roma,
$1.38 million Rolex watch,
$5 million The Enigma Diamond.
This is really bad news in the crypto sphere and influencers clearly seen very greedy in this case scenario. He literally did not even care that this is someone else money that was put into his business to grow it and have some returns for doing so. This is what caused SEC to file the lawsuit against Richard Heart and that I think was the right decision whatsoever.  Crypto influencer Richard Heart is facing a lawsuit from the Securities and Exchange Commission over claims he used “at least” $12 million in proceeds from his crypto products to buy luxury products. That includes the purchase of sports cars, luxury watches, and a 555-carat black diamond called The Enigma — supposedly the largest in the world.
Heart was born in the US and currently lives in Finland. He has operated a YouTube channel since 2017, where he promotes his own crypto products, including the Hex token and its sister product PulseChain, which operates on the PulseX protocol.
In its lawsuit, the SEC alleges Heart raised over $1 billion through his unregistered Hex, PulseChain, and PulseX crypto securities. According to the SEC, Heart marketed his products as “a pathway to grandiose wealth for investors” and espoused claims that Hex “was built to be the highest appreciating asset that has ever existed in the history of man.”
While Heart said the investments in his products were for promoting “free speech,” the SEC claims he never revealed that he actually spent “millions of dollars of PulseChain investor funds to buy luxury goods for himself.” Some of those purchases include a $534,916 McLaren sports car, a $314,125 Ferrari Roma, and a $1.38 million Rolex watch. In February 2022, he allegedly spent $5 million of investors’ assets to purchase The Enigma.
Additionally, the lawsuit states that from December 2019 to November 2019, Heart accepted over 2.3 million Ethereum valued at around $678 million in exchange for Hex tokens. However, the SEC claims 94 to 97 percent of these ETH deposits were “recycling” transactions that allowed Heart and other insiders to control “a large number of Hex tokens” while also “creating the false impression of significant trading volume and organic demand.”
“Heart called on investors to buy crypto asset securities in offerings that he failed to register. He then defrauded those investors by spending some of their crypto assets on exorbitant luxury goods,” said Eric Werner, the director of the SEC’s Fort Worth regional office. “This action seeks to protect the investing public and hold Heart accountable for his actions.”
This follows a wave of lawsuits from the SEC that have unfolded over the past several months. In addition to a lawsuit against Binance and its CEO Changpeng Zhao, the SEC is also taking action against Coinbase and Tron founder Justin Sun. Out of all these lawsuits, though, this one stands out for the sheer amount of luxury items that Heart (allegedly) spent investors’ funds on. SEC sues crypto influencer for allegedly buying sports cars and a rare black diamond with investor funds |
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Great another platform to help us out and cheer our future experiences with them. The platform CasinoX looks really nice. I am seeing that you have taken good efforts on the front end development because the UI looks pretty.
As I am reading through various review about your review sites it seems you are highly interactive and also taking baby steps to reach the next level. I would say that’s really nice of you and be the same even if it grows big.
You will definitely get more and more partnerships from highly reputed casinos soon. Good luck and welcome one more time.
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Why don’t the UK and EU use batteries and windmills? I thought oil and gas were bad especially when the seller is Russia… Buying and using oil (and from Russia!) is against the Western values. Some may even call this “treason”. The Europeans should eat vegetables and drive golf carts only. Meat and oil are for the undeveloped parts of the world.
Yeah but they still need oil for various other things. It’s not just oil -> oil, but it’s oil for running the vehicles, AC units, pumping the heated water through radiator, warming the corporate buildings, burning the stoves and what not. It’s not gonna stop at all. Europeans or someone else oil is as essential as its getting limited by its natural occurrence. Definitely they know this very well and can’t survive without it. They will have to buy it at any cost to sustain the life they had. We have come to era where they can’t go in the woods, collect and cut it to burn and heat things up for their daily lifestyle. |
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You can use third party solutions to get rid of any restrictions that might be coming your way while using the Bitcoin. While most of the people are trying to hold the bitcoin to profit from it there are still many who wants to do real transactions on daily basis in the form of Bitcoin. We have seen merchants growing these days with Bitcoin Payment Accepted here tags in their stores. Most of the developed countries are hosting BTM everywhere thus fulfilling the needs of user like you and me.
Apart from this you can always option out for services where you can trade your Bitcoin for the gift cards. These could be for your best vendors out there like shopping sites, restaurants or may be wallets. You can safely buy such cards on paxful, bitrefill and coincola. Make sure to use the trusted ones.
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I think I would suggest simple learning and then earning methodology. If you are going to copy someone then you would be surviving on oxygen cylinder mate. What I mean is you can learn during that process and would end up nowhere in the trading ocean.
There are decisions to be made, trades to be opened and closed at the correct timing and all of this can come from the learning process and experience that is gained over the time. No way you can do from copying someone.
It’s like cheating in exam by copying someone and earning your degree. But you can’t even crack the entry level interview for a job.
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As regular user or non technical user I think it will impact me very badly. They might just take away my Bitcoins because they might think my Bitcoin is dormant due to inactivity but in reality I would be holding them for long period of time. This need not to be implemented because it will also cause issues with market dilution. It will liquidate enormous amount of Bitcoin and thus devaluing it. Even as Bitcoin surges to levels not seen in months, HODLing will never go out of style.
More than half of the coins in existence have not moved in over two years, according to recent figures—a new all-time high.
Blockchain data firm Glassnode told Decrypt that the amount of Bitcoin which last moved more than two years ago currently stands at 53.14%.
That means 10.2 million Bitcoin is sitting still—roughly $309 billion-worth of satoshis. A total of 19.3 million Bitcoins have been mined since the cryptocurrency came into existence If you just check above stats then you will understand what I mean or others on the thread Are saying. It’s superseded problem if we implement such algorithm. Half of the Bitcoin will be sucked into mining all the time if this happens. Crazy. Reference for the Quote Here. |
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Yes definitely it is getting worst day by day. In the past we were so clean with the Bitcoin alone but immediately Altcoins started popping out from nowhere. Initially even the altcoins were giving good results but they also started to scam people. Then thousands of altcoins hit the market.
Now, we have “different categories” of altcoins with differently mastered scam ways. Lolz.
There comes the meme coins category. The cheapest one you can buy on the market and manipulate easily. Started to attract newbies a lot in the hunger of making quick profits. But it’s surely going in the bad direction.
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I also dreamed to be a billionaire, (Who will refuse this?). But as i watched the lives of some millionaires and billionaires and their family, there are always conflicts, problems and other factor that giving them a hard life.
You choose what's hard for you. These billionaires and millionaires have got their own hard life because of the finances and other obligations that they've got. While many poor people have their own hard lives as well but it's all due to how they're going to survive on this life. This just only means that everyone regardless of the status of life has their own hardships. Yes, i believe they affecting the economy either good or bad. But this balance is needed for our economy pursue.
It is a sad truth that we need to extract. There are people that hates these billionaires and other rich people but can't be denied with their contributions on an economy. I agree to this one because I believe that this is the hard truth in itself. Everyone think being rich is rich and they just get the money out of thin air. Isn’t that is funny as well? I think somewhere in the forum I have read a nice article stating that how rich people are also tangled in the status maintaining challenges. They also have a lifestyle that they need to maintain which is ultimately built from the income source they have. Indirectly they need to keep the business up and running all the time. They have to feed the salaries, keep business in operation all the time. We should keep down the debate that rich are happy every minute. :-o |
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That’s nice and we already have one of the study stating how CO2 emission is depleting over the time even though mining operations are rising and that’s because many mining operations are getting charged with green electricity. You don’t have to worry about whether Bitcoin is impacting the nature with its emission or not since it’s already taken care of.
I am sure every big farm set up knows this already. The cost of electricity required to run the operation is also huge so many miners already making best use of green energies. It’s proud to see that we also have another paper from highly reputed university.
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This is crazy, at first I also got into serious mode after seeing the entire post and screenshots. It is as funny as Elon not being serious about running the Twitter itself. It’s hard to see how scams are easy to perform these days. The user with X username must have felt the same way as we did at first glance of reading the post. Though users are very careful these days and it seems he does have many followers so must be some sort of publisher or otherwise public figure to get it. He would definitely check the authenticity already.
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That is a good looking wallet but obviously as mentioned earlier it is closed source and thus you may not be in full custody of your own funds. I don’t know, if you are in decentralised market then best way to secure the funds is use non custodial wallets itself. Sometimes it is far safer to use the paper wallet somehow because there is literally no existence of these wallets over the internet as long as we do not import them. Better choose your methods properly and then invest. I wish you would have dated a little to order Trezor. It is proven wallet in terms of Safe keeping. Anyways, congratulation on your first hardware wallet, more Bitcoins to you!
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I just launch a website for Trade and Mining , And i want to ask from which site i can get license for add a Crypto online Wallet and Mining System and how i get profit from this
One experience from the online mining websites: they are scams. In your case it's even not a good start. You said that you have launched a site that deals in the trading and mining but you have not posted any addresses for the same neither you are willing to show us any preview. This means you have no products at your hand and you are just imagining that you will do something that's already in existence but you know very well falls under the scam schemes. There was one era when cloud mining was so popular that everyone started investing on those website and in the initial stage they also paid us. However, things went wrong when they started gaining the trust of users and then slowly users started investing more amounts. As soon as the users started investing more they used to block the accounts and flee with the money. It's old trick but wont work anymore. |
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DannyHamilton is spot on. Basically, transaction outputs do not have addresses hardcoded to them, (unlike in ETH), but a "script" (that looks like assembly language) that hashes a "script input" to an address and asserts that it equals to the one also placed inside the script.
*script inputs are provided by your wallet to the script when you create a transaction using the unspent output. The script is similar to a BASH script in that it will either exit with success or failure.
This "script" can be replaced by something totally different that does a cryptographic problem instead of hashing to an address. When you see people using this kind of crazy problem script in a P2SH (3) address, that is actually what happens. It's not actually associated with the address (but it's still attached to the private/public keys) and usually it's just a block explorer filling it in.
I think to understand this one needs to understand how the input and output workflow works. I mean as given in the second post, does it mean I would be solving the puzzle manually and then I have to add the solution manually over the blockchain? I am so not close to understanding the math here or whatever this puzzle solving thing is? Where do I find this puzzle, a link or some sort of destination would be amazing. This "script" can be replaced by something totally different that does a cryptographic problem instead of hashing to an address. When you see people using this kind of crazy problem script in a P2SH (3) address, that is actually what happens. It's not actually associated with the address (but it's still attached to the private/public keys) and usually it's just a block explorer filling it in. Is this entirely associated with the miners OR non miner person can also get involved with this? What does it mean to solve this sort of puzzle? A math problem that a mining equipment is not able to solve? |
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I think this idea is excellent. I am not sure how you guys are not liking it. Imagine this idea would even work if they are going to find the phrase out of greed! They will have to work on it, they will have to read through it and go through the classes as well. This will consciously take them towards amazing learning path. Obviously the studious one would be leaders in this one as they will crack the code easily but since it's gonna be competitive everyone would want to compete for this and achieve that level. I am really impressed with the idea of this but it has to be planned in detailed to work properly. So much that it should have a plan to release the funds in step by step manner. For example A funds during first semester then B on the second semester and so on. Believe me, the perspective for every user might be different here but it will work just fine if planned with best minds.
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I am not sure what exactly you mean by that but the whole forum is open and you can connect with the others thought on their different quest. Many forum members keep posting their success saga and you can just checkout their threads, have comments over there and get involved indirectly.
I highly doubt that any forum member would get in touch with you over PM as long as there is some trusted bond that you guys get through the threads and on going discussions. With the time you will also find threads where users are posting their stats regarding various trades they are making, investments they are making or sometime even the gambling stats.
May be you should look for such on going discussions and try your luck to connect.
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No one considered that the most you can profit from a short position is 1x of the amount you used for short selling.
To illustrate, if the trader has $1,000 in his account and wanted to use 10x leverage - $10,000 - to short something priced at $100, then the highest amount the trader could take profit is $10,000 IF the coin crashed to zero. The only reason why there's a potential to profit 10x of the original capital is because of leverage, NOT because there's an exponential return.
The OP said that it might be easier to make 10x shorting. well, I think he really hasn't gotten into trading yet. Even when we get 2x profits when short, it is a very good thing. it's not as easy as the OP said. in fact, it takes persistence for it, it's not even easy to get 2x when going short. In addition, many people who target short, get stuck and end up holding on long term because the price of the coin they are buying has dropped drastically. Imagine making $10k, with $1k in a short amount of time. well, I think if it was that easy, nowadays people tend to prefer trading over investing. It’s time stop thinking right and left when it comes trading or even investing your money because we need to think 360 degree. All the angle and all the bumpy rides along the way. Chasing a dream of high profits in short period of time? Then just sleep on the couch and start dreaming about it because that is where one can achieve it. In real world things do not work like that but just the opposite. You need to have high level of plans with your investment and good skill set while trading the money. It’s far better one think this through and do not day dream about such risky profits. |
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Yeah should have left the college early. But there is catch with that career path, you need to be strong enough to face the ups and downs that would arise in the future. Dropping out early, doing your own business needs serious guts mate. There are challenges like managing the funds, having real world experiences, need to talk fluently while marketing, having formality all the time and what not. It takes lot of efforts if we are doing that on our own otherwise we could end up with disastrous path. If education is there then we have specific path associated with that educational background and the skills that it is going to teach us. Even some fail in their lives though they acquire good educational background because they lack the necessary guts to implement them in the real world. So yeah there are many paths you could take and all lead to earning money at the end but some give a lot some give nothing.
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It's not only what they don't understand, but broader than that. It has been repeatedly subject of propaganda in different forms (criminality, environmental impact etc.), because it doesn't favor authorities, but authorities control the media.
It's also that people don't make great researches and Bitcoin requires a significant time to sit down disciplined and understand what it is.
The reason behind authorities getting easily parsed through everything is because users of crypto are not up to date as mentioned earlier. The half information kills the fun out of it and authorities literally get upper hand to manipulate the market very easily. Honestly, its the users who should be looking after the market research very neatly and try to self sustain any negative news from the media ends. We have seen the negative marketing all the time and the biggest medium to do this is through news platforms. They are easily manipulated with bribes these days. In the trading market they even do the insider job even thought it is illegal. I think in broader sense, it's the users who is lacking the ability to uplift the Bitcoin. |
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