Growing your money and wanting to become rich are very similar. Investments are made with an eye on profits, or returns. So, in essence, Bitcoin holders want to see the fiat value of their Bitcoins grow overtime, when this happens, the amount of investors grow and when the fiat value drops, so does the number of investors. The reason in investing bitcoin should be just to level up financially, grow your money and get a better return of it. Beginners should not mistake bitcoin as to grow money and for making money(becoming rich).
Your reason for investing may not be mine. I want freedom from the fiat inflation trap and want to be my own bank, independent of any third party. Bitcoin gives me control without reservations and shows that there is an alternate way to do things without relying on banks. - Jay - |
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No mention of how the sample size was chosen. A probability sampling method would be the best option to have been used, ideally done systematically, then the research could have some credibility as it would show the thoughts of different demographics in the population. If it was done using convenient methods it would skew the results remarkably. I am really not sure if we should believe these numbers or not but the study is really positive about Americans loving the Bitcoin.
Crypto. Americans loving crypto not bitcoin. The study focused on the entire crypto industry and not Bitcoin as an asset and it very well could be some marketing strategy by coinbase. - Jay - |
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Holding $284,000 in one's smartphone is an incredible decision and one of the reasons he was a victim of the attack.
The best way to prevent a $5 wrench attack is for all your bitcoin activities to be private. If that is not possible, in the case of an investment blogger, then never carry huge amounts around. You can have a decoy wallet which reveals a believable amount of bitcoin and then one with additional security or an added passphrase which holds majority of your funds.
If that was the case here, the attackers would have discovered about $20,000 or $10,000 in his wallet and felt that sufficient to get away with, while over 95% of the Bitcoins are still secure.
- Jay -
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I spend some unconfirmed coins in a new transaction with a higher fee, and then (hopefully) a miner will include both the parent and child transaction in the same block in order to cash in on the high fee paid by the child transaction.
Spending is the inclusion of an input in a signed transaction, so you are right, that it can be spent before the parent transaction is confirmed. I was using it in a general term to be the actual transfer of bitcoin from address A to B. ...
If you try to make a transaction spending more coins than you have, that transaction will simply be rejected. This is a different concept to spending coins which you do have, but are not yet confirmed.
That puts everything into perspective. I took your reply from my understanding of the reply you quoted, but everything is clear now. - Jay - |
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If you attempt to make a transaction which spends coins you do not have, it will be rejected as invalid by any node you broadcast it to, if your wallet software lets you sign the transaction at all.
The concept of CFNP (Child Pays For Parent) is that one can make a new transaction with outputs of the parent transaction as the input even though the parent transaction is yet to be confirmed, right? I understand that the coins cannot be spent until the parent transaction has been confirmed, with that being the exact reason to use it. But for clarity, wouldn't the transaction have to be validated by nodes to be available for confirmation, or the node who saw the transaction has to be a miner who would confirm the parent transaction to validate the child? I am just trying to seek a bit of perspicuity on the concept. - Jay - |
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Data is the new way of making money but at some point we have to trust someone with the current system for the progression or just being the holder until the system turns into decentralized which prioritize the anonymity over the money.
There does not have to be any form of compromise when it comes to your data and more importantly, you do not have to trust anyone with your data, you do not have to trust any system at all. There is already enough decentralized options to avoid KYcs. Do not ever actually risk personal information, phone numbers, email addresses, etc. If you need to use any of this, then use a throw away address or phone number, which does not provide a privacy risk. - Jay - |
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Bitcoin can not buy anything. Itself it can not. Must have an agreement between a buyer and a seller to use Bitcoin as a payment method for their deal.
Nothing can be used for purchases except there is an agreement between the buyer and seller. In trade, anything of value (gold, diamonds, a car, Bitcoin) can be exchanged for something else of value if both parties are in agreement with the trade. The financial system is not static and you should not presume it to be. About a century ago, fiat as it is today did not exist. It is not a digital currency too.
...
" A digital currency is a medium of exchange that is generated, stored and transferred electronically" [1]Bitcoin is precisely a digital currency. [1] https://www.techtarget.com/whatis/definition/digital-currency- Jay - |
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As a person from mainland China, it is not easy to come to this forum smoothly and safely, and I won't discuss political issues. My friends around me know about Bitcoin, but many of them do not fully understand and hold Bitcoin, which is regrettable. I try to inform all of my good friends to hold Bitcoin, but it's only a suggestion.
Bitcoin is not every ones cup of coffee and that is perfectly alright. As you have done, you can only suggest to your friends to hold some bitcoin or learn more about it, but the final decision is theirs to make. You can visit the 中文 (Chinese) local board and discuss with like minded people from your region.
You seem to already have the general idea of how the whole things works and experience dealing with cryptocurrencies. This would make your stay on the forum more meaningful and I look forward to learning more from you and possibly also acquiring 1 whole BTC sometime in the future. As for my purpose of holding Bitcoin, I do not expect it to skyrocket to a certain price in my mind. I just like it.
Just like when you like a girl or a boy, there is no reason, you just like them.
There technically have to be a reason to throw in $26,000 on an asset besides just liking it... Are you attracted to the freedom it offers or transacting without regulations, or some other feature? - Jay - |
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1.posting without quoting.
I would take this over those who quote entire threads with walls of texts, including images. Quotes are not even important for every reply, except you are zooming in on a particular text in the thread. The others about trading and investing should only be attempted after doing your research. Not doing your research is one of the biggest mistakes newbies make that I have observed. Along with assuming the forum to be a means of getting quick money. - Jay - |
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Remote work was a thing before bitcoin, with platforms like Elance were one could find remote work dating back to 1999, far before bitcoin was launched. When you put it into perspective that remote workers existed before such platforms and were available in some business, you understand that the previous generation contributed to laying the foundation we have today. bitcoin,that came as a messiah,to enrich the hopeful.
Bitcoin was invented to allow unregulated transactions without the need for a third party. Any other benefit is a plus. - Jay - |
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If $300 worth of bitcoin is given to someone who doesn't have a job and have been looking for opportunity to invest in bitcoin. Will it be possible for the person to focus on this investment without selling at the moment because of the present financial situation.
Investing an asset is only possible when one has the capital to do so. Someone without a job should prioritize getting sources to earn an income and not how to invest is a high risk asset like bitcoin. Without an income column, there cannot be as asset column. Or bitcoin should only be given to those who can truly invest and yield profits. Can you gift bitcoin to random people who may not make profit from it.
You should gift someone based on their perceived needs. If they have interest in bitcoin, you can introduce them to the forum so they learn the basics while looking for ways to grow their income column. - Jay - |
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The only way to restore a forgotten or lost seed phrase is if you backed it up. Any other way does not work due to the security of the network.
Avoid any service that tells you they can access a wallet address without the phrase or private keys.
- Jay -
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assuming I download the Electrum bitcoin wallet right now and I decide not to use the wallet again, I can just restart the wallet and get rid of the keys and the wallet will generate a new recovery seed for me,
You do not even need to delete the old wallet to generate a new pair of keys. You just need to create a new wallet and then create a new seed. This would allow different private keys operate on the same device. And yes, this works on hardware wallets too. * Can a hardware wallet be formatted and start afresh?
Yes. - Jay - |
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Many nations at point of time are going through cashless policy and this policy affects price of things in different market regions of the world.
Theoretically a cashless society or policy does not affect the price of things. It is simply a means of accepting payment through other channels besides collecting actual cash. Can inflation which is the high demand of price over few goods or products actually controls the stability of bitcoin pumping or going down?
Inflation, which is a drop in the purchasing power of fiat currencies, meaning more money is needed to make purchases does affect every asset, Bitcoin included. Because I believed where people are facing high price over fewer goods makes it difficult for people to trade bitcoin with little or no capital! So can inflation makes the market cap of bitcoin not having a reality face of surviving?
Inflation exposes the frailties of fiat currencies, pushing people to an inflation resistant asset like bitcoin and thus driving the value up. - Jay - |
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A movie or documentary can easily have its entire cast published. As real names. And this can easily end up with doxxing.
Does it count as doxxing if the personal information is already published on the internet? I would think not. If theymos is very keen on keeping any personal data private and may have erroneously revealed some details they would prefer buried, it would be wrong to chase down and reveal those details. But if he is not so keen about it, then I do not see anything wrong in being curious to know what documentary he starred in. - Jay - |
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Both have their pros and cons, and frankly I would not recommend a newbie to be trading at all, not until they can decide on their own which approach is best for them. Both are indeed volatile and risky but i think spot which involves immediate buying and holding until price goes up to sell at a profit is more easier to start than making prediction on a price to either go up or come down on a later date.
Is there really much of a difference? In spot trading, when you buy you are predicting the price would increase and when you do not, it is cause you are not confident it would. The difference I see, is that in spot trading, you can not profit off of a negative market. - Jay - |
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On the positive side, the emergence of alternative cryptocurrencies helped to increase overall public interest in the concept of cryptocurrency and blockchain technology. By offering alternative options to Bitcoin, altcoins helped to broaden the appeal of the cryptocurrency space and attract new users who may not have been interested in Bitcoin specifically.
Altcoins became popular due to existing interest in bitcoin. The early attraction to bitcoin led many to try out their initiative with the blockchain and it became a trend at the time, just as NFT was. If anything, altcoin took capital which would have gone into bitcoin. At the same time, the emergence of altcoins also created competition for Bitcoin, which could potentially slow its growth and adoption. In some cases, alternative cryptocurrencies may have drawn investment and attention away from Bitcoin, as investors sought to diversify their portfolios and explore new opportunities in the cryptocurrency space.
True, people risk their money in the bid to earn more and create a sort of investment security, but in reality, they are more exposed to losses the more altcoins they purchase. Additionally, the emergence of altcoins created new risks for investors, as not all cryptocurrencies were created equal. Some altcoins were scams or failed to deliver on their promises, leading to losses for investors. This could potentially undermine overall confidence in the cryptocurrency market, including Bitcoin.
It also goes to show that Bitcoin is the only reliable cryptocurrency out there. - Jay - |
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I am curious to know how long you feel a pattern should exist, before there can be said to be a correlation between two variables.
There have been correlations between bitcoin and other assets, which lasted for a while, but they eventually decoupled and proved to just be temporary similarities in investor behavior.
This is just my curiosity, there would always be a link between consumer spending, inflation and purchase of assets like bitcoin.
- Jay -
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The concept of mining has remained unchanged over the years: difficulty level and adjustment time, halving, average block time etc have all been part of the network. What has changed is the number of miners and the quality of materials used to compete for rights to the next block.
In the early days, you could mine off your home PC and be very profitable, cause the competition was low as well as the difficulty level.
Today, a PC is not viable in the mining space and you need lots of gear and high caliber equipment.
- Jay -
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It is doubtful that the attacker knows you personally. Hackers usually operate by sending this random message to multiple individuals at the same time in the hopes that a couple of them would make the mistake of downloading.
Sending this non-specific message only to people they (the hackers) know would yield little to no result.
Be careful with how you handle personal information like email, phone no, social handles and so on.
- Jay -
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