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1201  Economy / Web Wallets / Re: How do I recover password? on: May 24, 2023, 07:33:56 AM
Hopefully you do not have a substantial amount of funds on the wallet since you do not open it often and do not have any backups for it, it being a custodian wallet.

There is almost no information about the wallet or its reputation and no idea how responsive their customer support system is, but they are the best option to recover the funds which are held by them on your behalf.

- Jay -
1202  Bitcoin / Bitcoin Discussion / Re: effect of a million bitcoins on: May 22, 2023, 09:32:14 PM
1.The large amount of data associated with such a large transaction can lead to increased load on the bitcoin network. If the network cannot process this amount of data efficiently, it can lead to delays in transaction processing and longer confirmation times.
The data associated with a transaction is unrelated to the amount being transacted. A transaction of $100 worth of BTC can have a higher transaction size than one of $1,000,000 worth of BTC.
What determines the size of a transaction are the inputs primarily and also the outputs along with the type of wallets used.

2.Such a large transaction can take up a significant amount of block space. If the block size is limited (as it is now in the case of bitcoin), the transaction may not fit in one block. In this case, the sender may be forced to charge a higher fee in order to attract the attention of miners and ensure faster processing.
Again, the amount does not determine the transaction size.

3.Typically, the time it takes to confirm a transaction on the bitcoin network depends on the number of confirmations the transaction receives from miners.
The time it takes to confirm a transaction is the time it takes for the block it is in to be added to the blockchain and it is averagely 10 minutes per block. The size of transactions in a block does not affect the block being added to the chain.

- Jay -
1203  Other / Meta / Re: Totally made up story on the gambling section that I want to analyze. on: May 22, 2023, 07:22:24 AM
How about a new thread in the same board it was posted with a link to the original discussion?
Since you plan to analyze the thread and not the user, reputation seems like the wrong place to do it and the discussion might not be relevant for meta.

This way, you have users of that board discussing a gambling related topic, and a higher chance of reaching people that would have interacted with that thread.

I have also thought to call it BS in the same thread but the comment would be lost on the umpteenth page and people would keep spamming the thread no matter what.
I fear whatever you do people would keep spamming said thread.

- Jay -
1204  Bitcoin / Bitcoin Discussion / Re: Can you give one reason why I should buy bitcoin? on: May 22, 2023, 07:10:41 AM
You need to convince yourself about an investment and not let others do the thinking for you. Some are into bitcoin for financial freedom without depending on the banking system, some buy it for the potential ROI, some others use it as a retirement plan, the purpose is different for different people.

Understand what bitcoin is and what value it offers, then decide to buy or not.

- Jay -
1205  Bitcoin / Bitcoin Discussion / Re: The last side of Bitcoin I've failed to look into on: May 22, 2023, 07:04:09 AM
but I am only curious if there is something you can do, while planning to hold your Bitcoin for 2 years or more, is there any benefit of holding and making more Bitcoin?
The benefit is that the price has the potential to increase and you get to use a decentralized currency which resists inflation. Any form of staking or passive earning means it stops being decentralized.

Also, What are those RSK Bitcoin for? Any benefit at all?
It is an altcoin which takes your actual bitcoin from you.

While holding bitcoin, I think the easiest way to earn more is just by providing a lending service.
Lending comes with an increased risk of loses cause you can not guarantee that your debtors would repay, you can only try to vet them by reputation and decide who gets a no-collateral loan and who does not.

- Jay -
1206  Bitcoin / Bitcoin Technical Support / Re: To run a full bitcoin node? on: May 21, 2023, 08:31:22 PM
What is likely required to run a full bitcoin node?
[1]
- Desktop or laptop hardware running recent versions of Windows, Mac OS X, or Linux.

- *About 1 terabyte of free disk space,

- *About 8 gigabytes of memory (RAM)

- A broadband Internet connection with upload speeds of at least 400 kilobits (50 kilobytes) per second

- An unmetered connection,

- 6 hours a day that your full node can be left running. (You can do other things with your computer while running a full node.) More hours would be better, and best of all would be if you can run your node continuously.


You do not need any other installations to run your full node, but it is advisable to run it over TOR to better your privacy. As a full node you also relate to lightweight clients like MultiBit [2] to allow the relay of transactions.

[1] https://bitcoin.org/en/full-node#minimum-requirements

- Jay -
1207  Economy / Gambling discussion / Re: Germany League - Bundesliga Prediction Thread on: May 21, 2023, 08:12:57 PM
...but a title is a big party in Dortmund next week at home. That can't go wrong, can it?
Football is a game of crazy euphoria and cruel drama. On paper, it is an easy win for Dortmund against a relatively easy side which have lost 4 straight matches going into the final game of the season.

We do not expect any drama, but we would not be surprised if there is a twist in the title race.

- Jay -
1208  Economy / Gambling discussion / Re: Germany League - Bundesliga Prediction Thread on: May 21, 2023, 08:05:22 PM
Mainz and Köln both have nothing to play for going into the final game of the season, for Bayern and Dortmund on the other hand, it is a must win situation for both clubs. Bayern have a superior goal difference so if they win and Dortmund fail to pick all three points and the Bavarians win they would clinch their 11th Bundesliga title. But if Dortmund win, they are going ti be crowned champions for the first time since when Klopp was in charge.

Thomas Tuchel and the Bayern board would be under immense pressure, the season is already sub par for their lofty standards. Dropping out of the DFB-Pokal and the champions league is a disaster. Not winning the league which has become routine at this point just makes that worse.

Looking forward to a change in administration, for a change in management would be all too sudden.

- Jay -
1209  Other / Beginners & Help / Re: Are you still buying? on: May 21, 2023, 07:47:30 PM
This market is not favourable since 2021 till now
Prior to 2021, the previous all time high was just shy of $20,000. Between then and now bitcoin has reached new ATHs, peaking at $68,000. This is a favorable market.

bitcoin price has drastically reduced the number of buyers overtime, even most of you that have it before aren't buying more bitcoin recently because of the waving price dilemma.
I would rather buy at under $30,000 than to buy at $70,000. True bitcoiners are still buying and double down when the price goes down.

Think of it this way, if you sleep by 8pm and wake up by 5am to discover that bitcoin rise up to $50k, will is you said is scam?
A 100% increase overnight is shocking and not likely to happen, but that does not make bitcoin a scam.

- Jay -
1210  Other / Meta / Re: Bitcointalk Official Twitter Handle will get Disabled due to Zero Activities! on: May 20, 2023, 07:17:51 AM
simply logging in without posting anything will not prevent it from being deleted.
It will. Being logged in counts as an active account and you do not even need to do that too frequently, logging on every 3-6 months is enough to prevent the account from being deleted.

I logged into the account about a week ago to keep it active. If I have to keep doing this all the time, then I'll probably just let it expire, since it hasn't been used in a long time anyway.
Are there any plans for the twitter account or do you consider giving it to someone else to manage at any time in the future? There are users with enough time to spare and experience to manage the twitter account and that would make one less thing for the admin to think about.

- Jay -
1211  Bitcoin / Development & Technical Discussion / Re: How does coin base transaction works? on: May 20, 2023, 06:21:08 AM
The newly generated coins aren't created out of the thin air. Miners work for them.
I am aware miners work for them, the out of thin air reference refers to the fact that the coins are not outputs from any previous transaction. So if you are tracing the flow of a particular input, you can only go as far back as the coinbase transaction.

- Jay -
1212  Bitcoin / Development & Technical Discussion / Re: How does coin base transaction works? on: May 18, 2023, 09:57:55 PM
Why did they employ coin-based transactions when they could have used the more common ones that everyone is familiar with?
Regular transactions have inputs and outputs, but coinbase transaction does not have any inputs and are basically created out of thin air. They serve as the bitcoin generation method to get new coins into circulation.

How can we use it during bitcoin transactions if it is stronger than a standard transaction?
What do you mean stronger? Coinbase transactions are recorded in the block along with other transactions with the same level of difficulty. The bitcoins involved are higher valued cause they are newly minted and have never been involved in any other transaction prior to that.

- Jay -
1213  Other / Meta / Re: [get yours] Images from imgur on: May 18, 2023, 09:25:38 PM
This has to be the forum with some of the most industrious members of any offline forum. Problems arise and there are always hands on deck to try and solve it with no incentive to do so besides helping out other users.

Great work LoyceV, I may have just one or two posted images but this would be useful to many forum users.

- Jay -
1214  Other / Beginners & Help / Re: In the market, following in the footsteps of Whales on: May 18, 2023, 09:13:11 PM
Buy bitcoin and hodl > copying the investment strategy of whales.

The trick to investing is not to over complicate the process, Elon Musk is a Billionaire and can take different levels of risks, regular investors do not have that liberty. Keep it simple.

- Jay -
1215  Economy / Gambling discussion / Re: UEFA Champions League 2022/23 Season on: May 17, 2023, 09:09:16 PM
Through the knock out stage of this competition, Manchester City has drawn all three away fixtures; against RB Leipzig, Bayern Munich and Real Madrid, but in the home fixtures of those ties they have scored 7, 3 and 3 unreplied goals truly making the Etihad stadium a fortress in this competition.

Here comes the final against Inter, no home advantage and no return leg, it would be 90 minutes which can turn to 180 minutes of football and maybe a penalty shootout. The atmosphere would surely be tense and it would be interesting if Manchester City come in with this exact same mentality into the final.

However, the final is in June 10, some weeks away from today, the focus is on the brilliance of the Cityzens to see of the current champions in an emphatic manner. A 10/10 performance from Pep's team.

- Jay -
1216  Other / Beginners & Help / Re: does it worth to start mining now ? on: May 17, 2023, 04:16:03 PM
This should be in the Beginners & Help section which is more focused on basic inquiries, more technical mining questions can go in here.

The merits of mining is relative to your location and the cost of electricity where you are. If you can get cheap and stable electricity and easily purchase mining equipment, then it is worth it if you have the capital to start up.

Do check up the hashrate requirement to run a competitive mining rig and compare that with the cost of buying bitcoin directly to know which is more profitable now, you can combine both means of earning passively.

- Jay -
1217  Bitcoin / Bitcoin Discussion / Re: I look foward to the day Bitcoin will have backer/tender on: May 17, 2023, 10:24:32 AM
This idea would complicate bitcoin, which is already considered to be over complicated by people looking into it from the outside. Plus it needs a third party backing it up, a peer to peer system does not need a middle man between transactions.

If the internet shuts down temporarily, there are some alternative ways being experimented to send bitcoin which are not common place yet, so we would have to wait out the downtime, if it goes down permanently, there would be a lot more issues to worry about than bitcoin. But your bitcoins would be safe for when the network finds an alternative way to transact.

- Jay -
1218  Bitcoin / Bitcoin Discussion / Re: Some people started their BTC journey when things were more hopeless on: May 17, 2023, 10:10:34 AM
There will always be doubters, there will always be late adopters and there will always be those who who would never come around for the bitcoin train. The weak hands in bitcoin is not as much as it was in 2016 or before with many of them moving over to altcoins hoping they give more ROI than bitcoin would.

it is safer to be in Bitcoin now than to be out of Bitcoin,
Bigger investors does not make the network safer or more secure, it is the decentralization of nodes and the level of difficulty that does.

- Jay -
1219  Economy / Gambling / Re: Is this considered a safe practice on: May 16, 2023, 11:42:24 AM
I will rather use a crypto casino which does not undermine my privacy and still offers certain bonuses on deposits.

Trusting your credit card puts you at risk of losing your details if their logs are hacked, the deposits can also be set automatically and fuel addiction. If you are not playing on a crypto casino, fund your gambling account directly without revealing your private financial information.

- Jay -
1220  Economy / Gambling / Re: Gambling is a choice. on: May 16, 2023, 11:36:13 AM
This are two contrasting situations. Your post is talking about a scamming scheme where people are lured into betting on a rigged game, they could do this by having one of the scammers pretend to be a player and win on their bets, just enough to make it believable, anyone who falls victim tries their luck and wins a little amount, not a serious loss for the scammers, but just enough to keep them playing, if they keep playing they start taking their money gradually till the person tires out or runs out of cash.

Online gambling on reputable websites is different from this. The house always wants to win but has to be provably fair, to not scam players. There exist some scam gambling websites, so players should always verify before depositing into any platform.

- Jay -
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