yes, instead of expiring and becoming unusable by anyone you could plow them back into the bitcoin ecosystem so someone could actually use them. but i think it should be distributed equally to all bitcoin addresses that have been active in the last however many years. that would make more sense than concentrating them into the hands of miners...
no. just no else that is incentivising mining pools to empty block for years apart from only adding tx of old utxo that are say 15 years old so the mining pool can then claim the coin for themselves by being the only tx added along side 'expired' utxo by empty blocking active users you cause active users to not be spendable to become unspendable until their own 15th year which then the pools would steal .. why do people keep thinking other people should have access, awardings to other peoples funds.. if you want to steal peoples funds because they dont touch them for 15 years, start with offering up all your assets in your home/bank/pension that you have had for 15 years.. allow your own wealth to be subject to disposal to anyone else and then see how happy you are about such idea's .. i have coins never moved since 2012 that does not mean they are lost. with only x years to go before being stolen many people have fiat funds locked in pensions they have not touched for 40 years. does not mean they are lost. but if you want to consider them stealable after X. first let other people steal your funds if there is a weakness in pk and pkh then we will start seeing it... lets not purposefully introduce a exploit to purposefully steal coins.. thats some scummy CSW idea.. lets not do that |
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alot of people wanted to get their UTXO in block 840,000 so paid stupid fee's to outbid competition, not everyone could get in so some are getting their tx added in later blocks so expect the fee's to be high, out of stupid milestone notoriety hopes
we will see this wave of idiocy of 840k notoriety bidding war die down and then go back to the idiocy of the newest junk/scam spam of runes that replaced the brc ordinals scam spam
What madness if that is really the reason. many mining pools in favour of the spam/scam are part of the funding of it. EG if a mining pool can get a utxo pertaining to be part of 'rare block 840k' and costing 40btc to create reward. then they can resell portions of that reward utxo for higher amount to continue the scam its like many things if you can fake that Xyear minted 50pence UK coin is worth £500 and you manage to sell 2000 coins for £500each but actual cost is £0.50each then you can have a money pot of £1m scammed money to then go acquire 2024 minted first batch 50pence pieces and get 2,000,000 new mint coins which you can then try to sell each for £5000+ pretending it cost you even more thus have higher pretend cost. due to rarity and other sill notions in short if reward block840k is worth 37btc then they can pretend rarest sat in transactions of block 840k is worth alot more so they can continue scam of their utxo spends to be worth more. pretending it cost them alot to get into block 840k .. but its all nonsense gesturing and scamming, so dont buy into it. let them bankrupt themselves |
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alot of people wanted to get their UTXO in block 840,000 so paid stupid fee's to outbid competition, not everyone could get in so some are getting their tx added in later blocks so expect the fee's to be high, out of stupid milestone notoriety hopes we will see this wave of idiocy of 840k notoriety bidding war die down and then go back to the idiocy of the newest junk/scam spam of runes that replaced the brc ordinals scam spam |
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to OP:
if old PK keys became at risk then that should be for those able to brute PK to win.. without asking to add code now to purposefully break bitcoin security to have a free giveaway via code added to bitcoin. as it would be the giveaway code that becomes the exploit not the FEAR of QC
also if you think value held for X years should be come open to a giveaway..
how about we ask the OP to open up his own pension portfolio first. and let anyone take that. and see how he feels of someone accessing his pension plan that suppose to be untouchable for XXyears and then only accessed by the intended owner, suddenly be open to anyone to take..
how would he feel if a new law was made that anyone with a pension was no longer guaranteed a pension. no one was guaranteed a savings account, no insurance, and no protection.. it was all up for grabs.. all out of a FEAR that a computer might steal it, he employed a exploit that made it possible before the fear ever even arrived in reality
he should propose himself, his family and his descendants should opt-in to a pension plan anyone can steal, as a proof of concept where he feels we should never have any financial security/law/rule where people can store value long term, not have inheritors, nor locks to ensure only intended owner gets to control it
i propose the OP should take all of his families funds, whether its pension, savings, assets, jewellery. put it in a suitcase and then one day announce in national press that his house is open and unlocked and all his wealth is on the kitchen table for anyone to take.. and then see how far his idea then serves him
once he wises up to the reality that his idea backfires on his own income, he will realise the purpose of not having back doors to steal funds, and also not creating real backdoors out of fake fears of fears of feared backdoors via QC
in short
asking to break the entire bitcoin security of #your-key-your-coin to add code to make coin stealable without signature.. just out of FEAR of QC is more foolish than just letting some QC owner brute old PK keys
the main genius of satoshi was to make bitcoin, his secondary genius was to make a few transactions leaving some signature proofs for some addresses, and then leave... which 13 years after leaving has been battle tested and no one has been able to steal his coins on old PK keys. which has provided good proof of security.
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So let me summarize nowadays and 10 years ago: step1: Bitcoin is digital cash, freedoom, decentralization!!! step 2: people praise corporations and institutions saying how it will be good for the bitcoin's price
step 3: corporations enter the market and centralize the ecosystem.
step 4: people praise how good it will be if the market is regulated by laws from governments
step 5: governments force laws against cryptosstep 6: finally bitcoin is digital gold and not digital cash So, people on the step 1 were only interested by the money to feed their pocket. And they helped to have the system we have nowadays. It can be called bitcoin or sugar, people do not care as long they make money with it. people in steps 2-5 are the wall street types not the original OG liberals these people screamed, begged and lobbied for those steps "for mainstream" and yet the intervention/integrations of those steps had caused alot of corporate sponsorship of centralised dev group and political push of corporations operating at the edges of the network to change bitcoins perceived utility, on purpose there is a reason we hear cultish narratives blindly repeating, supporting, suggesting bitcoiners should abandon using bitcoin for small sat movements whilst allowing spammers, scammers, junkers and bloaters to continue using bitcoin and being told we should not stop the spammers/scammers annoying the network segregation has 2 meaning: one code related and one socioeconomic related. the second one is this time a rich/poor divide rather than skin colour, but welcome to wall street integrating and gentrifying the neighbourhood, all over again |
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840,000 will contain 3.125 not 6.25
also miners(asic owners) just hash a hash they dont collate transactions nor form the block template
mining POOL managers are the block template creators that need to ensure their attempts of 840,000 has 3.125 instead of 6.25
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its only a small % of miners that play on the daily whims to be affected where they switch off if they cant afford to mine for a month or 3
the majority of miners just keep mining because they have already account for their costs to cover them for a 2 year hard ware lifecycle before its time to upgrade and expand anyone..
as for the small % that do drop off it that give a small % more competitive benefit to the majority remainers
but in majority of cases the hashrate/spotrate of the last 6 months did not see miner pleading poverty 6 months ago compared to position after today, so not much alteration should come of it
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Isn't it obvious though, that when the fees are high, making a small transaction doesn't make any sense. But it doesn't mean we will go on the argument that Bitcoin should increases and be a big blockers, we have that kind of Bitcoin forks and they seem to die down already.
And it's not Bitcoin's fault that the fees are getting ridiculous, it's a deliberate attack on the network itself and just trying to put pressure on the devs and other individuals. Anyhow, for now, it's better not to do another small transactions and the best thing to do is wait for the mempool to clear.
Also there is a option called LN (Lightning Network).
bitcoin has no technical reason to be restrained. its dev political motivated. when you follow the funding and roadmap plans of core devs it is their plan to segregate and migrate people away from native use of bitcoin. bitcoin core added an exploit 8 years ago, which is being abused 2years ago to cause these annoyances/attacks and core devs have had 8 years of knowledge of the exploit and a few years of seeing the annoying results of its impact. but all they care about is migrating people away from using the bitcoin network. even those performing the attack/annoyance are funded by the same groups promoting the segregation of majority/trying to push people into migrating people over to the other network(rich/poor divide) anyone telling people to: use another network stop using bitcoin wait weeks, month, years and hope the utopia fixes itself is not a ally/friend of bitcoin if they think their reasons are justified that spending $50 for 1 tx is fine but spending $50 spread over several years for a hard drive to store decades of transactions is some how bad economics.. those fools have their maths the wrong way round, and no understanding of math/economics of utility as for the 'do nothing, just wait' i think 8 years of waiting for the promises of bitcoin scaling to offer more transactions of cheaper fee is enough waiting. lets accept it the promises made 8 years ago have not been met. and no, other networks are not the solution. they are the diversion other networks only provide small niche sub services of options. and should not be thought of as the ultimate replacement utility. its funny how those that support other networks are the solution where 'small' transactions should occur. but in same breath they dont want the 'small' transactions of bloat/spam to be stopped anyone promoting to not censor junk, but to sensor genuine bitcoiner utility have thigns the wrong way round bitcoin HAD rules to articulate every byte as having purpose. those rules have been softened and many transactions always have been: 'dropped', 'scrubbed', 'evicted', 'orphaned', 'pruned', 'unrelayed' and many other terms that made bitcoin clean and purposeful. suggesting bitcoin should be filled with junk but actual use should be delayed/migrated elsewhere is a social-con, a social abuse of trying to suggest bitcoin shouldnt be used by bitcoiners |
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You can use lightning network.
..
You can go for those coins pegged with bitcoin price. They are not bitcoin and they may be centralized to some extent. They can also depeg from bitcoin price.
the question is have people stopped using bitcoin.. not have people started using other networks why do some people keep trying t promote other networks while pretending by using other networks they are still using bitcoin other networks ARE NOT BITCOIN, even LN is not Small transactions using Bitcoin are not worth it. However, what types of transactions would a person make with $20?
less than 1 billion people think $20 is insignificant/ only an hours labour where as 7 billion people think $20 is significant and worth more then an hours labour your question should be what types of people do you want to exclude from using the bitcoin network seems to me segregation has a double meaning for bitcoin cores roadmap.. learn the other political/social meaning |
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Miners at some point have quite a good profit, as you say x2 or more, but after a certain period, they would have to spend most of that profit on new hardware to stay at least on x1 profit. That business model is still quite twisted for me. current hardware, current market spot =2x profit, they can continue with current hardware after halving to get 1x.. much like the position they were in 6 months ago(still not poor).. then the market will rise slowly again to get to 2x progressively over months to reach a 2025 ATH which is when they peak to then sell and then use that to buy new hardware for a new hardware lifecycle... as the other halving -> ATH cycles have done most dont just give up mining as previous halvings have shown its only the hobbyist miner on residential(higher) electric that come and go so quickly due to market fluctuations Everything under s19xp will stop producing
small hobbyists that dont account their costs properly and just jump in and out and dont upgrade hardware on two year lifecycles get stuck in unprofitable conditions where they have to stop.. however smart miners that have been successfully and professionally mining long term dont look at the whims of the temporary market to be jumping out so quick instead they carry on and let the market spot play out. but atleast your fears shows more about YOUR feared action you would take in coming days... which is kinda funny when you been screaming how you say your electric costs were super cheap on your s17 you host with the pool you keep promoting as cheapest electric.... your fears suggest otherwise now |
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It does look like that the Bitcoin network is again getting spammed by those BRC20 tokens. However, I do not have any source to prove that it is the reason. For now many speculations surround this problem, blaming it on halving events and that it is the effect of global politics. Do anyone here believe that it is the issue?
Such as the open attack of Iran on Israel and the repatriation of Israel which will be responsible for changing the dynamics of the energy sector. I still think it is all about halving events but I do think this sudden spike in transaction price might be related to whales trying to again manipulate the market. Do you guys believe in what I wrote or there is something else in your mind?
Halving is going to impact Mempool for sure. There will be two mechanisms: - The reduced block reward will send many miners off the market, so the hash rate will drop, and with a lagging difficulty adjustment, this will cause a slowdown in block production.
- The RUNE protocol will be launched, and a flurry of new nonmonetary use of the blockchain will be enabled. Competition for the block space will then increase.
majority of miners are asic farms that dont day play trading to ascertain profits. they buy hardware and electric contract in bundles of 2 years and they mine throughout that period and then account the rewards vs costs to calculate the next 2 year hardware life-cycle (this is one reason why the ATH happen after a halving and the push doesnt happen at the halving, because the profitability accounting doesnt happen on halving day, but afterwards) its also been ascertained and explained https://bitcointalk.org/index.php?topic=5478905.msg63933800#msg63933800that the first half of 2024 is a 2x profit. and at the halving margins will return to the level of 6 months ago when miners were earning half as much as now.. so not many will be jumping ship on halving event as for runes. well most people have been through 3 cycles of junk metadata fake NFT so the amount of buyers of these newest junk wont be fooled a third time so the spam should not last as long. hopefully spam victims wised up to ordinals then further wised up to brc and not willing to pay the scammers a third time. so hopefully the income scammers use as fee's dries up quicker and they stop spamming sooner |
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I attempted to withdraw a large amount from my account after I cleared the Crypto Withdrawal Authorization by depositing 10K. It only deposited 100 dollars in my wallet. It further said to release the rest of the money, I have to deposit 20K to "clear the blockchain channel". This must be a scam. Please help me folks. Thanks.
10k sats? $10k? 20k sat? $20k? to pay 10k sat = 0.00010000 = $6.08 is about the high priotity fee amount (bitcoin network fee rate) you mention 'channel' so i guess that first $100 was locked in 1 channel of a subnetwork so i would imagine asking for 20k sat would be to pay a fee to close 2 channels where your rest of funds are in 2 channels or 1x fee to close other channel and then 1x fee to get funds out of bitgo custody (^ my assumption based on vagueness of details) .. if however its asking you to deposit $10k $20k.. just to play with $100. then you might have visited a phishing site. because asking for $10k to play with just $100 would be fishy/scammy.. and then asking you to deposit $20k to release $10k does sound scammy |
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bitcoins treatment/utility is "no longer digital cash" as in majority treat it as something else.. not due to technical limits of physics. but purely human political decisions on who should, could, would allow bitcoin to have continued scaling onchain vs the politics of pushing bitcoiners to other networks so spammers, scammer and junk fillers can abuse the network more
anyone suggesting bitcoiners should use other networks with made up physics limits/reasons.. but then say not to stop/move the spam,scam junk, are not saying things that benefit bitcoiners or the network
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having a mindset to know how to form and delegate a good team to operate a business is where entrepreneurs succeed
entrepreneurs are not those that run businesses, entrepreneurs hire the talent to run businesses
an entrepreneurs skills are not in the product design skillset. entrepreneurs dont need to learn new skills of a product/service to understand the production and process of the product/service.. again the entrepreneur hires the talent
an entrepreneurs mindset, knowledge, cognitive ability are mainly delegation related. .. and funding ability
an entrepreneurs success is not determined by the entrepreneur being the most skilled/knowledgeable about a product/service
an entrepreneurs success is determined by the entrepreneur being able to hire people with more skill/knowledge about a product/service, than the entrepreneur
hire people dumber then you, get dumb results
hire people smarter then you, get smart results
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those born without full function thyroid or have an imbalance at young age without treatment, grow up with physical issues too. its called cretinism(basically neanderthal) which is known since the days of the ancient greeks (pre christianity) of how neanderphals evolved into modern man due to the evolution and growth of the thyroid gland
its actually the bases of ancient campfire stories/analogies of the adams apple explaining how modern man came into being(from neanderphals) which became scriptures which become religious, but as the stories got more fantasy-full in olden times, to then mistake/forget about the cavemen aspect before them
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again common sense no one should wave their leather wallet around and let strangers have access to it, that was Ljr's failure
What do you mean by that? His personal wallet was some kind of... faucet?  i mean from what is said from the latest update. he wants the FBI to investigate attendee's to the conference which he does not know everyone there.. so common sense he attended somewhere with strangers, where (is common sense suggested that) it was there where he had strangers somehow have access to his server to steal his keys or put exploit/trojan on server it has nothing to do with faucets.. faucets have nothing to do with random people having access to keys, node. a faucet is where the coin owner willingly donates out portions of his coin to random people that ask for donations |
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actually legacy is stronger and more battle tested compared to more recent formats
satoshi in 2009 signed funds to hal feeney and done other signed events from the same address (half a dozen) and yet there is no no legacy data/validation/authorisation leakage which has been used for people to steal the fund that still are associated with that legacy address decades later
(many have tried bruting it)
newer formats have opcode additions that ignore checking for signatures(a flaw that has been exploited for other purposes), and also ways to replace transactions
which are weaknesses that have been exploited
also in regards to hot wallets
the amount in hotwallet is subjective. for instance although binance hoards 600k coin it has alot more then 100 coin as its hotwallet, they understand the risks of public access risk of way more then 100 coin, so they only put so much in hotwallet and have used their trade fee's to form a 'insurance' if said hotwallet was hacked(safu)
its recommended is to not risk more then you wish to lose and to take security precautions to mitigate risks* but thats general advice. its not to suggest having X on legacy in hot is more flawed technically compared to someone using 0.x or 10,000x
the amount does not weaken technical security.
*risks is more about personal loss emotional stress mitigation should X funds be lost
its more common sense
EG a leather wallet in your pocket containing fiat has the same security.
however you are more then likely to have funds stolen if you waved it around inview of strangers and/or then allowed strangers to put their hand in your pocket
point being if you put bank notes in a leather wallet and then had it open and accessible to the public. thats the risk.. not that the wallet itself is the risk
again common sense no one should wave their leather wallet around and let strangers have access to it, that was Ljr's failure
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Your post is very lengthy and I think your wordings have made you seem as if you are indeed transphobic but somehow I actually do agree.
my wording is clear but yes requires more then small soundbit snippets because its not something that can be explained in 2 words there is a wide difference between someone that needs and can benefit from the full transition process for their mental and physical wellbeing and life prospects.......... and then there are the trenders.. just play acting as it cool to play dress up or want to cause discourse due to social trends and peer pressure so lets not confuse the two by trying to virtue signal the second group as being the first group i have nothing against those that need or want the full transition process for real life affirming contentment i have nothing against those who just enjoy dress-up (tomboys, dragqueens, cosplay, larping, role play) but lets not confuse the two especially lets not try pushing others to confuse the two using peer pressure and discourse and insults |
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to have services/companies at the edges of the network/ecosystem of crypto become trusted. they would need to put up a reserve that is locked and punishable, forming a financial penalty of being malicious
(this is how silkroad become trustable even amongst criminals by having dealers put up collateral that can be taken should they not fulfil sales)
other things like customer deposits be put into a 2 of 2 multisig where customer+business form a partnership of control of funds. and co-custody the funds whereby the final relinquishing of funds(customer spending in final) gets signed over by both parties to the cex sole custody AFTER a bid win on the market orderbook, to fulfil the order amount win and settle the order
imagine it like exchanges becoming auctions
auctions usually ask bidders to display they can afford to settle any bids made at auction before bids are placed..
the auction (market orderbook bids) is a quick database operation of making/filling bids, (the same as spot market orders now..)
that can happen in miliseconds to bid on the sell/buy of assets..
..but the settling up of the auction is a secondary process where the bid winner has to settle up same day/same hour to actually get the auction won asset/property.
which in this case could be a fiat withdrawal or stablecoin assignment when they sign/relinquish over the coin from the multisig to the cex sole custody and then other currency/asset be relinquished equally on the other side
as for a web of trust system
this could be made where multiple parties vouch for an entity by depositing small amounts into a address that combine to become the trusted reserve(punishment) where by when others vouch for an entity. the reserve becomes a total amount that entity can perform at any given time and would lose that value if they cheat the current customer/user they are performing trade with
this could become its own market where traders/dealers/businesses seek vouching from others to operate many trades or larger trades. whereby those vouching earn small % returns from each trade performed without maliciousness. and the business then able to continue doing business via the continued trusted deposits vouching the business (kinka like staking)
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