If the difficulty was reduced would that help?
No, the difficulty has little to do with the capacity of the blockchain except for small variations, during the adjustment periods. And actually it's the opposite, difficulty going down because miners are turning off their gears leads to fewer blocks in the 14 day interval so lower capacity: https://newhedge.io/terminal/bitcoin/difficulty-estimatorRight now this is how it looks: Latest Block: 806622 (a few seconds ago)
Current Pace: 96.3419% (223 / 231.47 expected, 8.47 behind)
Next Difficulty Change: between -3.5372% and -0.7605%
Previous Retarget: Yesterday at 5:24 AM (-2.6452%) Just one day into this period we're down ~3.5%, meaning 8 blocks behind the target so around 20,000 fewer confirmed transactions than it should have been normally. |
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As many of you are aware, the mempool is full and overflowing and has been like that for a long, long period, when it comes to Bitcoin time. The last time it went near zero was back in April, and from then we haven't seen any sign of it finally going back to "normal" times of cheap tx and gaps in which you can consolidate your dust. Now betting on more acceptance, another bull run, are we going to see an empty mempool again or is this a thing of the past? I would love to see your opinions but also, more importantly, your reasoning for this! With enough tx for 3 days worth in the mempool, with hashrate going down because of decreasing revenue so fewer blocks each period which add to this, and not even a tiny sign of ordinal fomo dying down, my bet is on the next year or the holiday season at the end of the year. |
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In order for Bitcoin to be widely used for payments, it is necessary to stabilize price fluctuations.
When you start fixing the price, that's the moment you destroy everything else! Trying to control the price of the currency will just ruin everything, turning it into a worse variant of fiat! Besides, even making it stable against the $ will still not make is stable against shittier currencies like the ruble or the rial, so for like 90% of the globe it will still fluctuate, not by that much but still. Why do you want it to be stable anyway?
He just said it, in order to make it more attractive to be used as a currency, you know, that thing Satoshi wanted in his whitepaper? But fewer and fewer are interested in that anymore when the mirage of doing 2x in $ overnight has caught almost everyone. |
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I quit after one page, the same promo bs on how putting your money in their business is a good idea. Besides I'm really getting tired of how something simply having more hashrate is making the network more secure, it's all down to cost, to attack this so let me explain it for you without the mumbo jumbo the others were saying to make you lose your money in their scheme - Right now hashrate is at 400 exahash translated into 4 million gears of 100th/s with a cost per piece ~2000. - in May 2013 the hashrate was 100th/s, was the network protected by gear worth $2000? Could you attack it with $2000? Hahsrate alone is a meaningless number, what it matters is how much money you have to pour in to obtain it! Blocksize increase will definitely happen sometime in the future, and it might result in higher block rewards because more tx per block = more fees. But would it alone make mining more sustainable? Probably not.
Prepare to get pitchforked for this!  The challenge lies in the source of the information. Many people repeat the same articles on the Internet, which are rarely correct or carry technically correct data, and then move to Twitter, which means the number of followers and the number of retweets is an indication of the accuracy of the information, which is wrong, so the problem is that there are many False information that people circulate to become facts without searching for its source or verifying its authenticity.
Even the trust here is based on the number of merits you have collected, so incorrect information from a legendary account can be more accurate than correct information from a newbie account. Everything that happens confirms our failure to find an accurate and impartial crypto source of information and therefore is not suitable for beginners.
While I agree with what you said as a definition and situation per se, is there a deeper something-something hidden that refers to my own assumptions? Cause like now I feel like getting in defensive mode over any of my claims if one or other do need such! Think of how long it took for people to go from barter - to gold / silver / coins - to paper money - to.....
It also took humans about half a million years to realize hitting with a rock tied to a stick is more efficient than with a rock in your hand. Look how long it took to go from cheques and landlines to smartphones with NFC payments  |
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You seee, football has basically conquered the world's enthusiasm and it's almost becoming an impossibility to introduce a "new era sport" - well, that doesn't infer that horse racing is a new era sport - only that it was developed after the game of soccer.
After? St Leger course was established in 1776 and it's still ran even today, the Epsom derby in 1780, football rules were first established in 1863 . Which one is the "new" sport? --- - Would let's say 1-2mbtc (per event, about one or two per month) be enough for people here to at least open a few links and take a look at what hoses are running and what their timeform is?
That 1-2mbtc is enough to feed a family of 4 for 1 week or more(at least in my country), so it is probably worth enough to spend some time to take a look at what horses are running and what their time form is. - Would let's say 1-2 mbtc (per event, about one or two per month) be enough for people here to at least open a few links and take a look at what hoses are running and what their timeform is?
Another yes. Clicking a few links and reading a few lines of text about the game will be enough of an incentive for those who are looking to get the prize money. ~ What you'll be doing is something beneficial to the supporters or horse racing. I'm not sure whether people will be genuinely interested given that the only reason they will be joining is the prize money. It might force them to do a little bit of research and perhaps watch a few races, but after all is said and done, I don't know if they'll stick around. Seems like all three of us were wrong, 1mbtc is not enough! I opened a prediction game in the games and rounds and I have a 0:50 views to participation conversion rate. It's either that the sub-forum doesn't get that much exposure or 1 mbtc is not enough to pick six of names! Or is everyone here too rich to take a chance for 1mbtc, we're all whales of betstreet here? |
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Pennsylvania has so much fucking coal why burn the tires.
Shred them make some nice mulch with them.
Ironic they are not even burning coal but coal waste. So, Stronghold makes it in the news again, I swear these guys have the most outrageous ideas sometimes, they've managed to get away with the first thing as in "disposing" or coal waste and residue through some mumbo jumbo of regulations and by saying that burning the coal waste is better than leaving it like that, although everyone with a brain would realize that 1 meter of soil on top of that would have been the best eco-friendly solution but now...78,000 tons of tires a year!!! One stupid stunt like this and nobody is buying that eco-friendly crap the bitcoin council was promoting. I guess the question really is why? Tires are usually shredded and the rubber and metal recycled.
Not to mention the costs vs energy density. Tire rubber has a much lower energy density then a lot of other things so unless you have the tires onsite the cost to move them there is going to be high.
Tax credits for disposing of the tires? I know they are a thing in the cement industry but I don't know much about the others, at least not in the US! |
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2) The immense cost of hosting a node if we double or triple the block size:
In 2009 the cheapest hdd was priced at $0.09 per GB, right now the price is 0.0125. Why did you even decide to compare in price with using a US Dollar Value and then a Bitcoin Value? It's $0.0125 so down from 9 cents to 1 cent, what made you think that value was in BTC? It is fundamentally and structurally impossible for bitcoin to become "one world currency" whatever that even means.
Actually, that's the interesting part of all of this, how do people see Bitcoin's role in the future? The same thing as now with 1% of us trying to actually use it as both a payment and a way to keep our funds secure and the rest being interested in how much will it grow after halving, when ETF, when Wallstreet? Because no matter how spectacular the rise in price will be at one point that will stop being out of the ordinary and if the coin wants to stay relevant it will need to become really mainstream, not fomo profits mainstream but day-to-day usage, and that...is tricky. |
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🏇 Horse Racing (UK & Ireland) odds, predictions, discussions 🏇 This topic is about racing and gambling, so I would love to see posting people who know about gambling it although I would love also discussions about why a horse is a favorite in this race, ground, trainer jockey combinations. We're users from all around the world here with different timezones so for some UK/FRA/IRE racing would be a pain in the ass to watch so feel free to drop anything about races in Australia, US or Japan or where you're living, I might focus on my favorites but it's not a determined theme. Please keep it about gambling no stuff like as xxxx is a favorite, I think he'll win. Most odds will be taken from betfair,paddypower or from skysports for finished races. If you're interested can watch replays for free : https://www.racingtv.com/videos/horse_racing_replayshttps://www.attheraces.com/replaysLive is available on Betfair on the betting race, I don't know any legit free streaming service that covers all the races as I have the premium sports package but if anyone knows please post it. Other internet stream services, there is a ton of them but so full of ads and crap I will not recommend any to date. Also due to complete boredom, I will sponsor for a limited time a free prediction game for most Garde 1 festivals and meetings probably once a week, the links to both active and ended rounds will be listed in the second post. PS. Not to scare everyone from an already "exotic" sport for some, I decided to keep the topic unmoderated, but that's not an invitation to make your quota here. |
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CBDCs eliminate the need for bank employment, and thus will cause unemployment, and not the opposite, which is what the title states. What happens is that the socialist politicians do not like this and what they are going to do is to maintain banking jobs that are not needed with CBDCs artificially so that these jobs are not lost.
No, they won't. Automated teller machines and banking apps have killed most of what CBDC could have erased, the rest of the jobs in banks can't be replaced by any blockchain. You need support, you need credit approvals, you need a ton of other services, you need managers for private funds and pensions funds, what will be replaced completely will be the cash to digital cash flow, the rest will still be as before. I can tell you for sure, directly from the source, ING has killed around 30 local branches here, but despite laying off over one thousand in that department they've hired an extra 200 for their other services. Banks will keep working with CDBC just as they did with digital $ or euro, nothing will change for them. |
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Clickbait title? F*** Yeah pretty much! I've been reading about the new "spam" attack, about how the pool is again growing bigger and bigger how it's best to postpone transactions, how the fad that was supposed to die 3 months ago will die again and I was thinking how the whole narrative changed. Many here say Bitcoin is the liberator, it will bring the new world order, it will fight against the Cabal, it will dethrone the petrodollar, it will change the economy it will revolutionize everything, the system that is run right now by the evil occultist reptilians will be broken. But till that final fight, a bunch of jpg monkeys (ordinals) are clogging the mempool, making transactions more expensive, driving some into paranoia mode thinking this is a CIA operation, and all the while forgetting something, if Bitcoin can't deal with this kind of "spam" how could it possible deal with real usage on this level or what is needed for a global currency, 1000 x times more? So, from jokes to more serious things, there are a few issues here I keep seeing being brought up in denial mode: 1) When the block reward is gone, miners will get paid from fee! Current fees are 3% in reward, you will need fees to be 30 times more expensive to give the miners the same revenue and offer in return the same level of protection. Before you even mention the rise in the price of coins, think twice, if the market cap of Bitcoin goes up 100 times but the hashrate stays the same, will the protection be also the same? Guarding a market with 500 billion market cap with 3 million machines worth an average 2000 is one thing, protecting a 10 trillion one with the same hashrate stops being that secure, isn't it? Bottom line for point 1, if you ever said the network will run from fees, prepare to pay those fees! 2) The immense cost of hosting a node if we double or triple the block size: In 2009 the cheapest hdd was priced at $0.09 per GB, right now the price is $0.0125. <added $ sign! Maybe paying $100 dollars extra for a node that would still hold the blockchain for the next 4 years even with blocks 4 times as big won't be that much trouble if you plan on dethroning the banking system, just saying. 3) The lighting network dilemma While the LN keeps "growing", it's also stalling. If you look from a BTC standpoint yeah, everything is fine, but LN was supposed to be for fast payments, moving instantly value, so the true metric here should be represented in the value locked, and if we look from the $ perspective (orange line) we're well below 2021 levels!!!!  I've always heard, high fees will drive people to LN, not really that true  And guess what, from doing 20-40k tx a day, Doge has again spiked to 100k in the last 24 hours. Of course, coincidence, right? So, with these in mind, I do wonder what next and if there is actually a plan or if we go - 1btc=1btc who cares about moving that BTC at all - the having will be here, everything will be fine - Bitcoin was never about being a currency, is about moarr returns /rant over, beachtime and michelada for me. |
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Btcointalk when news about usage appears: - Bitcoin is driving the world economy - Millions are using Bitcoin to get away from crumbling fiat - Millions are rising out of poverty by doing business in Bitcoin - 40 million crypto users in Turkey alone Bitcoin talk when we talk about mempool - 600,000 transactions, we need to clean it up, the network wasn't designed for this, it's destroying everything! Just a trivia thing, there are 1000 cities with a population over 500,000, so if the population in a single on fo them was doing one single tx it would mean the same mess as here. Now it's not a problem. But it has the potential to either fuel even bigger investments in mining hardware, either to keep the price low/lower for longer, since it means bigger revenue for miners.
The current fee in reward is 3.05%! So if we think fast forward you will need transactions to be 30x times more expensive on average to keep up with losing the block reward. If we think about the current situation only, the drop from 30k in August has damaged miners' revenue by 15%, you will need tx 5 times more expensive just to be on the same level. Bigger investments? Not on these tiny fees! |
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I did quick research and it seems some service you mentioned are questionable.
Smells like Chatgpt copy-paste this is what I get for the same question Genesis Mining: Genesis Mining is one of the largest and most established cloud mining companies. They offer a range of mining contracts for various cryptocurrencies.
HashFlare: HashFlare was known for its cloud mining services and offered contracts for Bitcoin and other cryptocurrencies. However, it's important to check if they are still operational, as they faced some issues in the past.
Bitmain: Bitmain, a major player in the cryptocurrency mining hardware industry, also offers mining hosting services. They provide hosting solutions for their Antminer hardware. But Chatgpt did mention one thing before listing them: As of my last knowledge update in September 2021, Buy Bitcoin is a better option or you can ask your relatives who live outside Texas in this case states like Idaho have the lowest at
10.79¢
Right now only two out of all ASICs are not losing money at 12 cents and you're advising him to...?  |
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Reading back the topic I just realized another "fun" fact about it.
It says that 38% of them have invested more than 100 000 TRY, this means that 19% of the population of Turkey has invested more than the annual median wage in that country, so 19% or around 15 million people have poured around at least $4000 in crypto which would make it to 60 billion. For fun let's assume they all have it in Bitcoin, just those and assuming they have only the minimal bracket purchase and that 38% of the population of Turkey would own 13% of all the Bitcoins! If we count the others at a median we would have another 5-6% percentage!
So, based on this at least 20% of all the coins are owned by Turkish people!
Can we call it again one huge pile of bs?
Oh, also funny, if we assume 40 million bitcoin users not crypto, it would take 100 days for each of them to make one tx, without any other nation using the blockchain, so just their withdrawals would clog the network for 3 months!
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What if a dishonest user sends a TX with low Fee (1 Sat/vB) to a vending machine, the machine releases the product, and after some time that user performs a FullRBF changing the destination address to one of his own addresses?
If we're talking about soda can vending machines, the guy paid 2,974 sat / $0.77 plus he's ending with another output in in his wallet for which he is going to pay extra so if we take the value of a can of soda which is 80 cents here the last time I checked, you're wasting money !!!! If you aim for anything higher than vending machines you're simply going to get yourself in trouble, maybe in poorer countries it works but in others, there is surveillance everywhere, do you really want to get in trouble for a few $? The correct answer is: No! And nobody is going to send you merchandise worth thousands of dollars with no confirmation. Now the vending machine owner has two options; - either make the user wait for 1 confirmation (nobody's going to wait 10 minutes for a coca cola, I know), or:
- adapt with second layers, like lightning.
Even before that, how many vending machines that accept direct payment in BTC (no third party cards or codes or LN) are there? Cause I have a feeling we're talking about an anti-tiger rock solution here! |
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World economy is now being powered by cryptocurrencies. Yeah right, some don't realize the size of the outside world! What's powering the global economy, 400k transactions a day, and a market cap smaller than Norway's GDP? There is such a long way to go till you can even remotely claim this it just doesn't make sense right now! Hold your horses, Bitcoin hasn't grown to even 5% of its potential. Cryptocurrencies can be transacted more easily than banks. Due to its reliance on blockchain technology, there is virtually no comparable bank. Transactions can be completed with little cost.
Depends on where you live and what kind of transfer (not transactions as you don't transact banks!), if it's the same bank or national bank the banks win, if it's a transfer outside the country BTC wins, if there are large personal sums moving out of the country, you wouldn't want to be using banks at all. The cryptocurrency industry is currently providing investors with excellent security options. Hacking is not possible using normally in blockchain technology. In theory, it is possible, not "hacking" but different types of attacks, also you shouldn't generalize, some shitcoins blockchains that are heavily centralized or rely on just a bunch of nodes are just as susceptible to attacks as banks, remember the DAO hack, the ETC attack and let's not even mention all the shitcoins that die each week because of bad programming. Hacking is very much possible in Crypto-currency there has been lots of times individuals wallet was hacked and the hackers made way with the individuals funds. The case in the link below is one of many https://bitcointalk.org/index.php?topic=5432665.0If you go by personal cases then it's impossible to create a bulletproof system, soon for later even with the most secure design somebody will make a mistake, but that will not be the fault of the protocol itself, in Luke's case it was his own setup that was faulty, just as you won't be able to blame the bitcoin blockchain or code for a bug in Electrum. |
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Inflation is one of the economic terms that is often misunderstood. In a good economic system, controlled inflation is necessary to create value on the commodity and to force consumers to spend instead of displacing. As an example of the importance of inflation (in its simple sense, which means an increase in product prices), we can ask why prices do not increase in Japan[1] and how It was bad for the economy[2].
The biggest misunderstanding that Japan can help overcome is that by simply printing money you don't always generate inflation, inflation is not just the result of throwing money at your citizens, it's the result of your citizens spending that money in a way that the manufacturing and service sector can't keep up with it. From the article, I have a few questions. If the cost of a product is $20 for example, there is no way that product can be sold for $15 just because that's the price that the people will buy. No company would operate like that. A company would food eventually if they followed this business model. The goal is to make a profit, so if they're not making a profit then there's no point in the business. Or, they're making a profit but not much. For example, they make just $2 out of a $20 product. Isn't that a good thing that a company can't exploit people and make excessive profits off of them? The first thing when analyzing how a company is run is to drop your bias about the company making excessive profits just because it sells stuff you think is worth 1$ for 10$. There are so many costs in the process of selling a product that sometimes they completely overshadow the production costs, not even mention the initial investment, yeah I pay $100 for a bag of grain that will earn me in autumn 20 tons of wheat so I should sell the wheat for 1 cents a kilo, except for the fact that one s770 harvester costs 300k! Another thing is that operating at a loss might be better than shutting down, it all depends on the sunken cost some might just go like this for years as pulling completely out would trigger heavier losses, the best example comes actually from bitcoin mining, there are tens of them trapped in this, if they stop mining at 1 cents profit they incur such heavy losses that they don't even want to think about. Does it mean that the forces of demand and supply don't play a role in the determination of prices in Japan? From the article, I can conclude that it is the people who determine the price, so no matter how the market is, the buyers still determine the price.
The buyers always determine the price, if people stop buying the price will either go down or the company will go out of business, if the people clean up the shelves the investors and the board of that company would have to be stupid not to increase the price, wouldn't you do the same? The devaluation of currency can be caused by inflation.
~
Inflation will always cause the devaluation of a currency, devaluation of a currency will also result, although in some cases with a bit of a delay, in inflation, at least when it comes to consumer prices. |
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What is really going on with Canada? Is it really that bad as the internet says?
If so, what's the best way to profit from the (alleged?) recession? Shorting CAD, TSX, or both? Or maybe it's all already priced in?
Better ask advice from the people around here who shortened the Euro when it was 'collapsing" against the dollar going below 1:1 thinking it will to half of that as Europe burns in flames! It was an enjoyable topic about doom and gloom that of course turned empty when the loom and doom didn't materialize. That guy on Twitter is just posting clickbait and rage bait material, an easy way of gaining an audience, there are millions of people in this world who just love negative stories, they want economies to collapse, and they want to see lives ruined, feeding them with stories about crashes and so on guarantees you a bunch of die-hard followers. Now looking at this from a realistic point of view, are you seriously going to look for advice here where there is one Canadian in a thousand users and the majority have not one clue about the state of the economy? Short the CAD for what, it was 0.8 in 1990 it peaked at 1:1 in 2011 and it's 0.74 now, you really want to dump that much into this or risk a ton on high leverage for, what returns? I live here and it depends what province you live and whether you are a home owner or not. The biggest issue is most of the population of Canada lives in either Vancouver or Toronto (or surrounding area) and these two in the past couple of years had crazy rent prices. We had large immigration recently and it only made it worse.
And you're going to get more if that student loophole isn't fixed, not even counting the 1 million that somehow were forgotten in the statistics, if you're building 1/10 of the homes needed by that immigration wave expect the prices to go up till something fixes it, either business moving out of to more affordable places along with the workers or new cities taking the initiative and start building to keep up with the demand. |
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So now with them missing the first deadline, the next one will be next Month (the 17th of October). Your thoughts on this? The good, the bad, the odds of getting approved?
That ARK is either way going to get screwed. BlackRock will have its chance by October 17th, if this one gets delayed the rest will just be again trashed, if it gets a positive nod then ARK will have to wait in the shadows till November 11th despite being like what, two years earlier to this circus of delays and promises? Cathie Woods is probably at the end of her nerves with this, if Baclkrock gets in first it will completely eclipse everyone else. For 'the bad" thing, are we still cheering for Wall Street money or do we go by the not your keys, not your coins? Depending on how you look at it it's both good and bad at the same time, the profits will be there, and the idealistic world is probably on its deathbed, after all, it's all about what you want from Bitcoin, it's a bunch of code, you use it as you see fit or you just stop it and look for something else. Because if we see only the USA as having a good or bad vibe on the market currently, I think it has become the new China for crypto.
China was banning Bitcoin, the real deal, the SEC is deciding on IOU pieces of paper that might be backed by Bitcoin. |
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