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1201  Bitcoin / Bitcoin Discussion / Re: Lightning Network Observer on: July 30, 2023, 04:45:29 PM

just get a drip of yourself and understand that lightning has failed the test of time, its time to move on, ask for something better. ask your gods to do something. (no 'ask' isnt an acronym for ass kiss)
not just kiss their ass, flatter them with compliments while they do other things sponsored by banking institutions, rather than the decentralised bitcoin community they should be taking care of


I'm sorry to disappoint you, frankandbeans. Growth and adoption might be slow, but it definitely hasn't "failed the test of time". Lightning Network Capacity has actually been growing year on year since 2018.

https://bitcoinvisuals.com/ln-capacity

It's still early days, and I personally prefer slow but organic growth than the fast growth we see in many shitcoin networks that crash and burn in one year.
1202  Bitcoin / Bitcoin Discussion / Re: The blocksize war - franky1 is an absolute piece of shit on: July 30, 2023, 04:19:27 PM
But it's worth noting that blockchain data alone leaves out a significant detail.  Intent.  

A hard fork proposal was announced by Bitmain prior to the activation of SegWit.  This is all very well documented, but certain disinfomation agents like franky1 continue to sweep it under the rug because it doesn't fit their agenda or their attempts to distort history.  The declaration was always there that a hardfork would take place if SegWit were likely to activate.  And thus, BCH happened.

Bitmain wanted nothing to do with SegWit because it was a threat to their business model.  They were always going to pursue the existence of a blockchain where SegWit was not activated.  See the ASICboost controversy for further detail.  It's clearly a lie for franky1 to insinuate that the hardfork was anything to do with the method by which SegWit was activated.  Whether it had been NYA, UASF or Core's original proposal, Bitmain would have been pushing for a hardfork regardless.

But since franky1 is a sociopath, he will now proceed to come up with some more ridiculous technobabble about how his delusional version of history is somehow accurate (it isn't).  I hope everyone enjoys the rest of this topic getting thoroughly derailed because franky1 is an obnoxious piece of shit who won't accept reality.


He knows the facts, and he doesn't truly deny it. It's not about "accepting it or not", it's about playing 4D Chess and gaslighting people into questioning what the actual facts of actual reality is. It's really wicked. To a newbie, the wall of text full of techno-babble will look like, "Oh he probably is very smart", without verifying if all that he has been saying is true.

To the newbies who are too lazy to DYOR, you should just look at franky1's trust-rating and read what gmaxwell and Achow said about him.
1203  Economy / Speculation / Re: Buy the DIP, and HODL! on: July 30, 2023, 09:48:50 AM
price-based strategy. That won't work if you truly want to HODL. You should have a time-based strategy.

Well despite having long-term perspectives in mind while buying Bitcoin, we must still put in mind that our entry price matters a lot because the buy price is what determines the level and time of profits, this is so because those that bought their first Bitcoin at all-time high price above $55,000-60k+ are going to wait longer before the records profits compared to those that bought bitcoin at a discounted price below $16,000-20k if bitcoin make any all-time high above the last ATH.


Try to get the point of the post and what's being said. I'm not telling you to buy blindly at ANY price like a DCA-type of strategy. My own personal belief has always been wait for a DIP, and always bid LOW where you can find a discount.

The debate for a time-based strategy is to continue HODLing despite making a mistake and having -50% in paper-losses in your investment. Some price-based investment strategies would have already sold at a loss because "price dictates" that such a strategy should keep losses small. I think for Bitcoin that might be the wrong approach.
1204  Bitcoin / Development & Technical Discussion / Re: Proposal to Address Dormant Bitcoin:Recycling Lost Coins into the Mining Process on: July 30, 2023, 07:45:08 AM
I'm not judging OP, and what I'm going to say is nothing against him nor am I trying to offend him. BUT, I'm starting to believe that laughable topics such this are mere 4D Chess moves made to start a debate and see if it catches many people's attention. Perhaps "some people" hope to see some gaslighting in the discussions to happen? Haha. Cool

What recycling of "dormant coins" actually does is KILL Bitcoin's immutability. Moderators should probably lock the topic and stop the naivety of the proposal.
1205  Economy / Trading Discussion / Re: For newbies and plebs who want to self-study to become "traders" on: July 30, 2023, 07:22:01 AM

For under-capitalized plebs like many of us are, you won't have to find quality "trading resources". It would be a waste of our already limited capital. The best use for it is merely to buy the Bitcoin DIP, and HODLing it as a store of value, then DCA any additional capital that you earn.

Plus instead of wasting your time in trading, just find a job, a second job, or other ways to earn extra money.

you just hit the nail on the head. I appreciate your honest response to my question. I do know that not having a stable source of income while relying 100% on trading profits might not be the way to go for most people and it might mess up trading psychology since a new trader would have to choose between their empty stomach and withdrawing a part of their trading capital every time to survive. This isn't the ideal way to go.

I do have some concerns:  
Plus instead of wasting your time in trading, just find a job, a second job, or other ways to earn extra money.

Someone with a stable source of income might just want a trading career or has a passion for trading and numbers. This wouldn't apply to them?
 

I don't know. The person has to judge his own trading performance himself/herself. Because even though a person has a stable source of income but he/she consistently loses a part of his/her salary in "the passion for trading", then what would be the difference between that and losing money regularly in the casino playing Craps?
1206  Bitcoin / Bitcoin Discussion / Re: The blocksize war on: July 29, 2023, 10:37:00 AM
Hello. I am interested in learning about "The blocksize war".

I have been in Bitcoin since 2020, and therefore, I don't know the history before 2020. I know that it was a "debate" regarding the block size, but I want to read details about it.

I can google it, but I don't know who to trust. So, knowing that there are many knowledgeable people in this forum, could you tell me more about this period?

Of course, any relevant website, video, article is more than welcome.
 

Read "The Long Road To Segwit: How Bitcoin's Biggest Protocol Upgrade Became A Reality" by Aaron Van Wirdum. He's definitely the most trustworthy person you can find that wrote about the subject-matter.

https://bitcoinmagazine.com/technical/the-long-road-to-segwit-how-bitcoins-biggest-protocol-upgrade-became-reality

That write up will give you the history, what caused the "Scaling Debate", the context why, and why the the Core Developers chose the path where we are today.

Thank you.


Plus be careful of those trolls and charlatans who will gaslight you and spread disinformation that will sort of look real and would look like they make some sense. When in doubt, you can always reach out to trustworthy people like Aaron Van Wirdum and others through Twitter.

https://twitter.com/aaronvanw?lang=en

Some of them will reply back, others won't, but it's important not to fall in the mind-trap of the Anti-Bitcoin-Trolls who will pretend to be Bitcoiners but are actually playing 4D Chess. Always reach out and good luck to your Bitcoin journey!
1207  Economy / Speculation / Re: Buy the DIP, and HODL! on: July 28, 2023, 02:41:03 PM
On a lighter topic, Valkyrie's ETF will be listed under the ticker "BRRR". Hahaha.
Haha, An ETF investor be like hey broo did you invested in BRRR. Cheesy Cheesy. the ticker names are funny though, Well the other company ARK shares have a good ticker name (AKRB) which is better, but this BRRR doesn't make any sense. I doubt why would traditionally people about many news outlets are talking about. Saying these are the main targeted audience of these upcoming ETFs. Because when companies will get registered via governments such people will start to invest in it.

post link
I hope those traditional and well sophisticated people like this ticker BRRR Cheesy Cheesy I should make some meme on it.

I cited your post to show your image - but your image cut off some of the content.. so I reposted the full image from the twitter link that you provided.



This kind of news in regards to so many ETF applications pending should have some kind of upwards pressures on the BTC price, so if we are currently getting BTC price movement in the opposite direction, then it seems like good ideas to buy at various price points - and none of us can really know how much further the BTC price might dip.. or even if it is done dipping.  If you do not have much if any BTC at all, then likely you should be erroring in the side of buying regularly rather than waiting for lower BTC prices, but if you have been buying BTC in the sub $35k territories, and even down into the sub-$20k territories for the last 15 months or so, then you might not feel as much urgency to buy BTC on the relatively smaller dips that are currently happening and bringing us down from $32k into the sub-$29k prices, so far...
I agree with you. No one can predict for sure where the bottom of BTC will be. In my opinion, you should determine where your buy zone is, when the btc price reaches the target price area you start buying. You can divide into many buy zones with different weights. When you buy BTC at a good price, your psychology will be very stable when the price fluctuates up and down. And you will hold BTC to the target price you expect.


Personally, a good indicator is the 200-Weekly Moving Average. If it crashes near it, touches it, or the best = actually crashes below it, our move as plebs is simple. Buy the DIP, and then have the long term conviction to HODL.

I believe another problem many people have is they invest using a price-based strategy. That won't work if you truly want to HODL. You should have a time-based strategy.
1208  Bitcoin / Bitcoin Discussion / Re: Lightning Network Observer on: July 28, 2023, 02:22:23 PM
im not a bitcoin cash fan. i never used it i never even claimed their forked coins of the same key i used on bitcoin ever


No? But you merely claimed that Bitcoin "bilaterally split into Bitcoin Core and Bitcoin Cash", right? Therefore making Bitcoin Cash as rightful as having to be considered also Bitcoin? You further said that it's like the "Dollar". There's the U.S. Dollar, the Australian Dollar and the other "Dollars". What was that? Your attempt to make what is considered Bitcoin worth less?

Quote

you are the ultimate troll that are again spouting silly rhetoric trained on you by an idiot mentor of yours that makes you think those that dont treat core as god must be a fork coin lover


To be called a troll by you is an honor. That means I'm doing something right. But you, why would trustworthy developers like gmaxwell and Achow give you a negative trust-rating?

 

Your script is to convert "layer 2" to "subnetwork".  
Your script is to convert "offchain" to "other networks".  
Your script is to convert an inclusive and eloquent soft fork into "bloat".  


He's gaslighting. It's actually to confuse the newbies reading our debates.

It's so moronic that the forum vote for him as the "anti-hero", giving him recognition. It probably means that a majority of people in BitcoinTalk don't truly have a grasp of basic concepts about Bitcoin or what's happening around it.
1209  Bitcoin / Bitcoin Discussion / Re: Lightning Network Observer on: July 28, 2023, 08:39:48 AM

subnetworks have a NICHE but are not the solution. especially not this flawed subnetwork called LN that needs a complete rebuild or be scrapped and a fresh attempt made using different economic model.. rather then waiting another half decade for empty promises and pretend successes, even when the stats do not convey what they pretend


What's that? Haha. I know there are some smart developers who are right to criticize some aspects of the Lightning Network, but from a troll like you saying that it should be "scrapped"? Roll Eyes

The developers working on Lightning are doing a better job in REAL scaling if you look and compare it with a coin like BCash. You laugh at the people in this forum because they support Lightning? Look at your community in BCash, believing that the solution to real scaling is by making blocks bigger and bigger forever, without any consideration for the limitations of bandwidth and hardware.
1210  Economy / Speculation / Re: Bitcoin - The road to a SIX DIGIT price valuation on: July 28, 2023, 06:13:27 AM
I respect your opinion and you have a point, but I can't entirely agree. Bitcoin is a blackhole for fiat currencies. If the Cabal behind the Central Banks print more, Bitcoin will absorb more and add to its market value. It's currently right there happening in front of us, and the ETFs will make the trajectory to six digits steeper and faster. Plus wait for QE when there's more liquidity available in the system. It might be "Oh My God It's Christmas" during March of 2025.
Wait?

Would be great right if bitcoin drive its value and more and more people join the crypto industry right or I am missing something here so in my opinion Bitcoin ETF is great but anything also has advantages and disadvantages

the big Disadvantage is those companies like BlackRock and other US companies will have the majority of Bitcoin maybe in total would be couple of percent of Bitcoin supply and the ETF buyer dont have real impact to Bitcoin world


I'm tired of wasting time making the same debate like a broken record. Read the hypothesis in OP about Gold's ETF and just connect the effect of an ETF in Bitcoin's own market.

 Cool

~snip~
I have no fascination. Simply noticed the large difference in networth between Chad Saylor and BlackRock. Larger networth = Possibly a larger investment into Bitcoin. It probably might be three times Saylor's investment by BlackRock? More if we consider the investments of the other major asset managers?

Of course, the difference in capital that you mention is incredible, because a few billion $ compared to $10 trillion managed by one company together with all other companies/funds make up tens of trillions of $ in value, and all this in a possible combination with investing in Bitcoin definitely tickles the imagination of anyone who thinks about it.

The question of all questions is how much interest there is in investing in Bitcoin through such funds - is it 1%, 5% or maybe even 10% - are we talking about tens, hundreds of billions of $ or even trillions of $?


I actually don't know, but if BlackRock was correctly and accurately described in this post, https://bitcointalk.org/index.php?topic=5459385.msg62598645#msg62598645

Therefore I truly believe BlackRock will make the largest investment by an institution/asset manager in Bitcoin's history. How much is Chad Saylor's Bitcoin investment? 0.05% of Total Supply?
1211  Bitcoin / Bitcoin Discussion / Re: Lightning Network Observer on: July 27, 2023, 03:37:18 PM
*Luddite noises*

The evidence is clear.  On-chain "scaling" (which isn't actually scaling) might gain a few extra transactions per second.  But off-chain allows for a far greater number of transactions per second.  Even with all your whining about routing issues, it's still giving us, right now, a larger number of transactions than your caveman notions of how Bitcoin ought to work would give us.  No one cares about your backwards, ignorant notions about how this should work.  You have zero credibility, you can barely even read and most people find you to be an undesirable nuisance at best.  Give it a rest, you deluded basket-case.


Like now StopAndDecrypt's write up says that the term "on-chain scaling" gets used many times without context, I believe it's the same with us in the forum.

For context, the post in this quote is REAL on-chain scaling,

Quote

When I talk about scaling in this article, I’m talking about one thing and one thing only, increasing functionality without sacrificing decentralization, and the total set of validating nodes is one of the most direct representations of how decentralized the network is. Focusing on anything else when discussing scaling in regards to blockchain networks is either a result of not properly understanding this, disagreeing with it, or an act of intentionally misleading for whatever reasons one may have to do so.

https://medium.com/@StopAndDecrypt/266c136fc55d#aee4


We can't have a proper debate and we can't learn from each other if we don't have the real, common definition of on-chain scaling. Plus there's another concern, that's if the other party of the debate is a troll who is merely misinforming and gaslighting the public.
1212  Bitcoin / Bitcoin Discussion / Re: The blocksize war on: July 27, 2023, 03:19:03 PM
Hello. I am interested in learning about "The blocksize war".

I have been in Bitcoin since 2020, and therefore, I don't know the history before 2020. I know that it was a "debate" regarding the block size, but I want to read details about it.

I can google it, but I don't know who to trust. So, knowing that there are many knowledgeable people in this forum, could you tell me more about this period?

Of course, any relevant website, video, article is more than welcome.
 

Read "The Long Road To Segwit: How Bitcoin's Biggest Protocol Upgrade Became A Reality" by Aaron Van Wirdum. He's definitely the most trustworthy person you can find that wrote about the subject-matter.

https://bitcoinmagazine.com/technical/the-long-road-to-segwit-how-bitcoins-biggest-protocol-upgrade-became-reality

That write up will give you the history, what caused the "Scaling Debate", the context why, and why the the Core Developers chose the path where we are today.
1213  Bitcoin / Bitcoin Discussion / Re: Lightning Network Observer on: July 26, 2023, 03:18:49 PM
If the Lightning Network is as bad as you say, then OK. But that doesn't signify that the developers should stop working on it or users should stop using it just because of your trolling-opinion.

Honestly, if I were a dev and having doubts or second thoughts about the work I was doing on LN, but then I read one of franky1's posts, I'd redouble my efforts and work that much harder just to spite him.  That's the effect he has on people.  He thinks he's being demotivational, but he's doing the complete opposite.  If he had any real faith in what he's claiming, he'd just shut up and let it happen.  But he sees LN development continuing and more in the pipeline to come, so he feels compelled to keep sniping from the sidelines.  Palpable butthurt is palpable.  No one likes his worthless ideas, so he has to lash out at the ideas people do like.  Petty and tragic in equal measure.


Why would any dev read franky1's posts? They're laughable and full of disinformation. I know there are criticisms directed to the Lightning Network, but there probably isn't another team of developers that's doing as great of a job. Compare Lightning developers to the developers of something like BCash. It's not close in my opinion and franky1 comes in the forum and gaslights us that we are wrong? Haha.

you seem obsessed that the debate is core or bcash...


No frankandbeans, it's you. You're the one obsessed about making the Core developers look "evil" by accusing them that they're keeping the blocks small so they could promote their, what is it? Their "alt-subnetwork"? Without taking into account about the technical debate that they've presented. But once presented with a technical debate, the big blockers start to use big walls of texts made up of ad hominem, straw man fallacies, and disinformation to confuse and gaslight everyone.

 Cool
1214  Economy / Trading Discussion / Re: For newbies and plebs who want to self-study to become "traders" on: July 26, 2023, 02:47:55 PM
My advice - BE CAREFUL

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

Plus "as traders", most of you will lose money and leave. Some of you might return and lose more money. Some might have learned their lesson the hard way and just HODL Bitcoin. The few who actually put in the most time, effort and who are well-capitalized might make it.

This has been the norm for a long time. I know a lot of self-acclaimed expert traders who primarily make their money from users subscribing to their signal service or enrolling programs. If majority of the trading learning resources (video, article, etc) are from traders who aren't profitable, it becomes a problem for newbies to learn since they would be unprofitable as well when they eventually put the trading skills to practice.

Biggest question iis findimg quality trading resources.


For under-capitalized plebs like many of us are, you won't have to find quality "trading resources". It would be a waste of our already limited capital. The best use for it is merely to buy the Bitcoin DIP, and HODLing it as a store of value, then DCA any additional capital that you earn.

Plus instead of wasting your time in trading, just find a job, a second job, or other ways to earn extra money.
1215  Economy / Speculation / Re: Bitcoin - The road to a SIX DIGIT price valuation on: July 26, 2023, 02:29:49 PM
~snip~

BlackRock wants to offer a spot BTC ETF to the market, which for me is something much different than the fact that they as a company have a special interest in Bitcoin or anything else except that their company increases profits. In addition, the part of their request in which they mention forks does not look the least bit friendly when it comes to Bitcoin, because they already suggest in that statement that they could choose any fork that would be more favorable for them at that moment.


I made these posts about the issue,

https://bitcointalk.org/index.php?topic=5456494.msg62417885#msg62417885

https://bitcointalk.org/index.php?topic=5456494.msg62452869#msg62452869

I asked in one of them what's BlackRock's stance on E.S.G. - Environmental, Social, and Governance.

Quote

What Is Environmental, Social, and Governance (ESG) Investing?

Environmental, social, and governance (ESG) investing refers to a set of standards for a company’s behavior used by socially conscious investors to screen potential investments.

https://www.investopedia.com/terms/e/environmental-social-and-governance-esg-criteria.asp


Quote

Furthermore, why the fascination with the trillions of $ they manage as if all that money or at least some significant part will flow towards BTC? We can hope for some things, but we still need to be realistic and take into account the other two possible outcomes - and the first is that the SEC will not approve the ETF, and the second is that even if it is approved, it will not have too much of an effect on the BTC price.


I have no fascination. Simply noticed the large difference in networth between Chad Saylor and BlackRock. Larger networth = Possibly a larger investment into Bitcoin. It probably might be three times Saylor's investment by BlackRock? More if we consider the investments of the other major asset managers?
1216  Economy / Economics / Re: Can CBDC users lose control of their money? on: July 26, 2023, 07:16:38 AM
I'm sorry ser, but you are very very wrong, and I'd advice you to be very careful in carrying that kind of thinking with you.

Maybe he should read [GUIDE] All About Central Bank Digital Currency (CBDC)

Quote
A CBDC is a centrally programmable digital currency issued and controlled directly by the government itself. It's not like "mobile banking", it bypasses the banking system, and they should actually be made illegal. There should be a separation of Money and State.


CBDCs are from governments and central banks and I think they will be made legally at least in their nations. Their governments and central banks that create those CBDCs will accept their own CBDCs legally.

I guess you wanted to discuss that CBDCs will be considered as illegal at global scale. Like a CBDC in one nation will be considered as illegal in other nations or by IMF. Is it what you meant?


No, I literally mean that from a technical perspective - Direct programmability of a digital currency made by a centralized authority should be illegal. CBDC will be MORE tyrannical than the current, ALREADY, tyrannical financial system.

I believe that anyone involved in BitcoinTalk should spread more awareness about the challenges that CBDCs present in our financial freedom. Because it's obviously not just another form of "digital fiat".
1217  Bitcoin / Development & Technical Discussion / Re: The Lightning Network FAQ on: July 25, 2023, 03:17:08 PM

Using Lightning through BlueWallet does not have "remarkably low fees". It was known that it had hidden fees for each LN transaction that would sometimes cost the user high fees than the average, depending on demand and transaction size.
When it did exist, yes, but isn't BlueWallet's hub shut down?


They did, as I also mentioned in the same post, which wasn't included in your quote. Cool
1218  Bitcoin / Bitcoin Discussion / Re: My Appeal to the Average Joe and Jane Bitcoin Investors: Buy Bitcoin Now! on: July 25, 2023, 02:56:22 PM
The worst advice to convince the Average Joe and Jane to invest in Bitcoin is when someone force them to start buy now when they still not understand what's Bitcoin, how's Bitcoin work and the reason they want to invest in Bitcoin.

Most of people are invest in Bitcoin for making money, but if they're invest in Bitcoin because of decentralization, inflationary, security, privacy and be your own bank reasons, they're definitely long term holder and not care about FUDs.


It's just part of that cycle of adoption when a new technology starts emerging like the genesis of the internet's popularity. Many people who didn't regularly use the internet during those early days thought it was just a short-lived craze used mainly to post pornographic images. It will be the same for Bitcoin, many people heard a rich old dinosaur say that it's "Rat Poison Squared", and therefore for people who don't use it, it's just a scam.

 Cool
1219  Bitcoin / Development & Technical Discussion / Re: The Lightning Network FAQ on: July 25, 2023, 02:39:40 PM
OP, probably good to remove BlueWallet and add Mutiny.


In my venture to explore the Lightning Network (LN), I opted for the seamless experience provided by BlueWallet. The transactions conducted were solely in BTC, amounting to a mere USD $0.1. The swiftness of these transactions was remarkable, accompanied by remarkably low fees. However, I find myself more inclined towards Bitcoin (segwit) due to familiarity.


Using Lightning through BlueWallet does not have "remarkably low fees". It was known that it had hidden fees for each LN transaction that would sometimes cost the user high fees than the average, depending on demand and transaction size.

Quote

For LN, it may be suitable for facilitating sales and purchases at various stores while also introducing the original Bitcoin, highlighting how it is perceived, what is observed, and so forth. As of now, there are no plans to uninstall the game here.


Uninstall the "game"? You mean BlueWallet? They already removed support for LN two months ago, that's why OP must remove it in his list and add another wallet like Mutiny.
1220  Economy / Economics / Re: Can CBDC users lose control of their money? on: July 25, 2023, 07:39:37 AM
Here's what was found there:

Tweet about it. Curious options, right?

"Many in the cryptocurrency community have raised concerns that a CBDC has the potential to infringe on their financial freedom and encroach on their privacy." - This wording sounds in the article (from cointelegraph.com).
What was the expectation?

It’s centralize and control is the whole point. For what is worth, we still operating some form of mobile banking and has got to operate just the way commercial banks do operate and that is, freezing and unfreezing of account, transferring coins as they deem fit and monitoring the transaction of users. It makes no difference. CBDC and mobile banking, it’s typically the same thing to me.

There still exists a huge difference between CBDC and cryptocurrency hence, the ideas which backs it up to be a competitor for the cryptocurrency innovation is very much wasted.


I'm sorry ser, but you are very very wrong, and I'd advice you to be very careful in carrying that kind of thinking with you. A CBDC is a centrally programmable digital currency issued and controlled directly by the government itself. It's not like "mobile banking", it bypasses the banking system, and they should actually be made illegal. There should be a separation of Money and State.
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