Could we make a hard fork to disable new inscription to reduce the network pressure. Then both inscriptoin supporter and objector can work on each chain. That may seeperate bitcoin value to two chain, and probably, one chain can gain more value,we can call the coin on this chain BTC, the other chain must called another name. Even though, the inscriptions inscribed before fork seem valid after fork.
If there's a proposal, and if it could get community consensus, then absolutely yes.
Miners can not support the fork because they are looking for what can replace block reward.
I've got a bad feeling that this way of thinking is going to come back and haunt us in the future when the price has crashed hard since people will have had abandoned bitcoin due to prolonged high fees... By that time the reward+fee would not be worth the same amount of money as 3.125 BTC is worth today at $60k. But ser, isn't prolonged high fees an indicator that there's high demand for block space in the Bitcoin blockchain, and therefore it's also an indicator that there's high demand for Bitcoin? Plus it's not his way of thinking, it's merely a fact. Miners actually have no choice but to be incentivized in order to continue to provide security for the network. fees do not indicate demand excessive fee's indicate over payment of a fee.. the fee bumps are not increments of smallest amount. and the junk spammers are not even using smallest amount nor bump increments, they just apply extreme fee's instantly which then cause everyone else to pay extra ontop OK, then it was merely temporary demand. Right now, "normal" fees are at an average of 18 sat/vB to include a transaction in the next block. It illustrates that, currently, demand is low. But obviously that could change later.
its not about demand. its about price fixing inflated prices. its not a true demand fee free market, its a premiumised racket not a fee free market
Are you then saying that the current demand today for block space as represented by sat/vB is the normal demand?
.. as for miners
miners have many choices and can continue to provide security
firstly
bitcoin main reward is incentivised by the spot market. which even today is more profitable than the rates of 2023, they were not poor in 2023 and not poor now. the spot market can afford the miners a good income
But with block rewards that halve every four years, the miners can't continue depending on the spot market, no?
secondly
miners dont choose the transactions so they are not incentivised to accept the highest fee first because they are not the ones controling which transactions get into a block.. a miner(asic) does not make the block templates.. learn the difference between a mining pool(that does no mining) but does manage the block template creation and transaction selection, vs the miners that just re-hash a hash the mining pools send to them
What do mining pools do? Because if they don't take highest fees first, then why are the transactions that paid the highest fees get included in the next block first?
thirdly
when junk spammers are placing high fee's inconsiderately and nonsensically, its because these junk spammers have scammed alot of coin from victims so dont mind wasting coin.. thus not a sign of 'demand for bitcoin' its a sign the junk spammers dont care about bitcoin and would careless about bitcoin, which is why they throw high fee's into their transactions
No, absolutely not all transactions by those users during a point of high demand "have scammed". |
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Did anyone do "before pics" to prepare to take the "after pics" during the destined surge for Bitcoin to six digits? "300 Spartans at $100,000" memes should be all over the topic, and perhaps it's probably better than the "Laser Eyes to $100,000" cult meme? 🤔 ╭───────────────────┬────────┬───────────┬─────────────┬──────────┬─────────┬──────────────╮
│ Username │ Days │ Pushups │ Last Date │ PU/day │ % of │ Days till │
│ │ │ │ │ │ Total │ next digit │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Kwarkam │ 52 │ 10560 │ 2024-04-19 │ 203.08 │ 8.07% │ 441 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Smilevictorobinna │ 9 │ 900 │ 2024-04-30 │ 100 │ 0.69% │ 1 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Dracoco │ 2 │ 90 │ 2024-05-04 │ 45 │ 0.07% │ 1 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Jewan420 │ 10 │ 900 │ 2024-05-06 │ 90 │ 0.69% │ 2 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Mayor of Ogba │ 72 │ 9776 │ 2024-05-08 │ 135.78 │ 7.47% │ 2 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Bd officer │ 50 │ 3009 │ 2024-05-08 │ 60.18 │ 2.30% │ 117 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ promise444c5 │ 44 │ 1620 │ 2024-05-07 │ 36.82 │ 1.24% │ 228 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Tungbulu │ 12 │ 1412 │ 2024-04-28 │ 117.67 │ 1.08% │ 73 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ 7juju │ 77 │ 11550 │ 2024-05-01 │ 150 │ 8.83% │ 590 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Ricardo11 │ 66 │ 3383 │ 2024-05-07 │ 51.26 │ 2.59% │ 130 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ hardyrobust │ 1 │ 70 │ 2024-05-07 │ 70 │ 0.05% │ 1 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Ambatman │ 19 │ 2115 │ 2024-04-30 │ 111.32 │ 1.62% │ 71 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ SickDayIn │ 2 │ 60 │ 2024-04-28 │ 30 │ 0.05% │ 2 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ JayJuanGee │ 91 │ 17915 │ 2024-05-05 │ 196.87 │ 13.69% │ 417 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Dailyscript │ 4 │ 399 │ 2024-05-04 │ 99.75 │ 0.30% │ 7 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Antonil │ 54 │ 2102 │ 2024-05-04 │ 38.93 │ 1.61% │ 203 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Obulis │ 6 │ 500 │ 2024-05-07 │ 83.33 │ 0.38% │ 7 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ AmaGold70 │ 3 │ 210 │ 2024-05-07 │ 70 │ 0.16% │ 12 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ OgNasty │ 97 │ 9800 │ 2024-05-08 │ 101.03 │ 7.49% │ 2 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ CossyBlack │ 22 │ 4095 │ 2024-05-07 │ 186.14 │ 3.13% │ 32 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Judith87403 │ 50 │ 800 │ 2024-04-22 │ 16 │ 0.61% │ 13 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ proty │ 3 │ 250 │ 2024-05-01 │ 83.33 │ 0.19% │ 10 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ DirtyKeyboard │ 88 │ 8712 │ 2024-05-07 │ 99 │ 6.66% │ 14 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ teamsherry │ 24 │ 2130 │ 2024-05-02 │ 88.75 │ 1.63% │ 89 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Cityhunter34 │ 3 │ 186 │ 2024-05-04 │ 62 │ 0.14% │ 14 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Zackz5000 │ 68 │ 8545 │ 2024-05-08 │ 125.66 │ 6.53% │ 12 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ I_Anime │ 76 │ 5562 │ 2024-05-07 │ 73.18 │ 4.25% │ 61 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Notalony │ 11 │ 937 │ 2024-05-05 │ 85.18 │ 0.72% │ 1 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Tmoonz │ 72 │ 6882 │ 2024-05-06 │ 95.58 │ 5.26% │ 33 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Obari │ 3 │ 115 │ 2024-05-07 │ 38.33 │ 0.09% │ 24 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ cityhunter34 │ 8 │ 386 │ 2024-05-08 │ 48.25 │ 0.30% │ 13 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ adultcrypto │ 21 │ 1575 │ 2024-05-02 │ 75 │ 1.20% │ 113 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Bravut │ 4 │ 285 │ 2024-04-20 │ 71.25 │ 0.22% │ 11 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Obim34 │ 54 │ 3260 │ 2024-05-05 │ 60.37 │ 2.49% │ 112 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Gallar │ 23 │ 6141 │ 2024-04-21 │ 267 │ 4.69% │ 15 │
├───────────────────┼────────┼───────────┼─────────────┼──────────┼─────────┼──────────────┤
│ Troytech │ 45 │ 4605 │ 2024-05-04 │ 102.33 │ 3.52% │ 53 │
╰───────────────────┴────────┴───────────┴─────────────┴──────────┴─────────┴──────────────╯
╭───────────┬───────────┬───────────────┬──────────────┬──────────────────┬───────────┬─────────────╮
│ Team │ Pushers │ Pushups │ Days │ Pushups/Pusher │ Pushups │ Days till │
│ Pushups │ │ per Pusher │ per Pusher │ per Day │ per Day │ 200_000 │
├───────────┼───────────┼───────────────┼──────────────┼──────────────────┼───────────┼─────────────┤
│ 130837 │ 36 │ 3634.36 │ 34.6111 │ 105.006 │ 3780.2 │ 18.2961 │
╰───────────┴───────────┴───────────────┴──────────────┴──────────────────┴───────────┴─────────────╯
████████████████████████████████████████████████████████████████████████████████████████████████████▌
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0k 20k 40k 60k 80k 100k 120k 140k 160k 180k 200k
Quote of the day: "I'm so happy going into this challenge" - Smilevictorobinna JayJuanGee is out-pushing everyone. 👀 Good luck everyone, and keep up the good work! |
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I don't know if they're trying to exaggerate, nor do I care. But the actual context of the post is Bitcoin, by how it's built and designed, it could weaken and break down political strongholds. Whether Satoshi intended it to be this way - ¯\_(ツ)_/¯
What use would decentralization have if it's not for censorship-resistance? What is Bitcoin's value proposition if it's not also censorship-resistance?
To me, it's just an exaggeration and an attempt to present yourself with some relevant factors in the fight against terrorism. On the other hand, all those sanctions imposed on Russia, Iran, and North Korea have a very limited effect - because the war in Ukraine proved that Russia uses weapons that have the most modern components from the West. I doubt that someone bought these components with Bitcoin, which means that the US authorities should focus on who they sell their technology to and how it ends up in the wrong hands. Bitcoin is only the tip of the iceberg, and even if it didn't exist at all, does anyone think that something would be different? It is more than obvious that when they have no other arguments, they blame Bitcoin for everything, and no one will come forward to say that they are wrong. OK, but conversing within the context of my post, that's irrelevant. Nothing changes the fact that Bitcoin is something that could weaken and break down political strongholds. It's simply "that" by design whether that was Satoshi's intention or not. But personally, because I believe that Satoshi held the Cypherpunk's ethos close to his heart, he probably started building Bitcoin to bring forth political and social change - for better or worse. |
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Why would someone buy a bot profile? I am just curious. If a real player is not in a table then where is the excitement of the game? Is it even allowed to use bot? Yeah right... I don't get why would anyone try to automatize such an exciting game of luck and skill as poker is. As if all in poker was about analizing one's hand in order to get some money. In my personal opinion it goes beyond that. Perhaps that is why there is pretty much people who are willing to participate in face-to-face poker tournaments instead logging on casinos, poker may be one of the few games which a bot could never fully replace a player. It is more fun when one needs to try to hide one's cues to other players and at the same time try to read the physical cues others could be giving away. But automizing your moves WOULD actually help the user in Poker. It's the same like BlackJack, there will be mathematical situations that will give the user the advantage. The benefit of automation is you don't lose much of your capital during those times during the game when you don't have the mathematical advantage because the Pokerbot doesn't play the game like humans do - with emotions. Plus it's not real poker. Everything is more mathematical than psychological.
On the legality/violation of terms of service concerning to the use of bots, it pretty much depends on the casino/website, though if I had to guess I would say they are not welcome.
I believe they are all illegal, and using them in smaller casinos will give you a higher probability of getting caught. Using them in casinos with a larger number of players will be harder because those casinos are more secure against such exploitation. |
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Could we make a hard fork to disable new inscription to reduce the network pressure. Then both inscriptoin supporter and objector can work on each chain. That may seeperate bitcoin value to two chain, and probably, one chain can gain more value,we can call the coin on this chain BTC, the other chain must called another name. Even though, the inscriptions inscribed before fork seem valid after fork.
If there's a proposal, and if it could get community consensus, then absolutely yes. Miners can not support the fork because they are looking for what can replace block reward.
I've got a bad feeling that this way of thinking is going to come back and haunt us in the future when the price has crashed hard since people will have had abandoned bitcoin due to prolonged high fees... By that time the reward+fee would not be worth the same amount of money as 3.125 BTC is worth today at $60k. But ser, isn't prolonged high fees an indicator that there's high demand for block space in the Bitcoin blockchain, and therefore it's also an indicator that there's high demand for Bitcoin? Plus it's not his way of thinking, it's merely a fact. Miners actually have no choice but to be incentivized in order to continue to provide security for the network. |
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Iran illustrating Bitcoin's main value-propositions, censorship-resistance and permissionless-ness. 
~snip~ It's true, whether someone likes it or not for whatever reasons - everyone has the right to use all possible ways to survive in today's world. However, I think that some of the US politicians exaggerate and use such topics for daily political purposes, as we recently read that Russia is avoiding sanctions by using stablecoins (which are much easier to control), but also that North Korea is hacking the whole world despite this the west is far superior in everything. I don't know if they're trying to exaggerate, nor do I care. But the actual context of the post is Bitcoin, by how it's built and designed, it could weaken and break down political strongholds. Whether Satoshi intended it to be this way - ¯\_(ツ)_/¯ What use would decentralization have if it's not for censorship-resistance? What is Bitcoin's value proposition if it's not also censorship-resistance? |
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It went on to say that “Iranian cryptominers are required to sell the crypto they produce to the Iranian central bank, which in turn uses the crypto to pay for imports and exports.”
Iran illustrating Bitcoin's main value-propositions, censorship-resistance and permissionless-ness. What the "letter" failed to suggest is that because of those sanctions on Iran's Oil exports, Iran started to use their Oil to produce Bitcoin then export that, something very portable and impossible to stop. Political strongholds are being weakened, and sooner or later, they will be broken through Bitcoin. But there are people who already imagined this possibility. Iran, and the crackdown on Iran's Bitcoin trading, is in fact demonstrating the opposite: governments ultimately control what people do, and how they transact. The only way to fight a democratically elected government is to vote. The only way to fight a dictatorship is to overthrow them. Us techies don't like to hear this because we work hard to create easy solutions to hard problems, but this is the reality with governments. Get the context of the post. The political stronghold being weakened is the United States. They sanction a weaker/smaller country? OK, the smaller country shall use the technology openly available and make a market side by side with the markets that they're not allowed to enter - Simply Bitcoin, ser. Plus they say that Iran uses the Bitcoin they mine for "imports and exports"? Imports and exports of what, and who are their trading partners? Russia? |
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 https://twitter.com/Snowden/status/1786170805728039127Edwards Snowden just made a tweet with final warning for everyone that privacy for Bitcoin is needed on protocol level. I tend to agree with him on this and I really don't understand why nothing has been done regarding that for years, unless this was done intentional. Funny comment was made by Jameson that we might take another ten years to do this  The clock is ticking... Snowden is correct. This question has been lingering for a decade as our governments continue to regulate and sanction the crypto space. The day will come when this will be an emergency question. We need privacy blockchain solutions ready for a future that is adversarial to crypto. Projects like Iron Fish can be part of a private transaction movement away from transparent blockchains, which are vulnerable to restrictions of individual freedoms. Although personally I am a minimalist of altcoins/shitcoins, I believe that everyone, Bitcoin-only or not, should support your movement. Transparent blockchains and blockchains with obfuscated transactions can co-exist, and be complementary with each other. Because the community considers that Monero is the best altcoin for privacy, from a technological standpoint, how does Iron Fish differentiate itself from Monero? https://ironfish.network/ |
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https://twitter.com/Snowden/status/1786170805728039127Edwards Snowden just made a tweet with final warning for everyone that privacy for Bitcoin is needed on protocol level. I tend to agree with him on this and I really don't understand why nothing has been done regarding that for years, unless this was done intentional. Funny comment was made by Jameson that we might take another ten years to do this The clock is ticking... That's reminding me of the FUD that Mike Hearn was spreading when he sold every coin he had and quit Bitcoin. I believe he sold everything below $300? Mere three digits against a possible six digits during the peak of the current cycle. But about Snowden's tweet, it's debatable. There are important issues, technical and social, to consider. There's also the political issue. |
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It went on to say that “Iranian cryptominers are required to sell the crypto they produce to the Iranian central bank, which in turn uses the crypto to pay for imports and exports.”
Iran illustrating Bitcoin's main value-propositions, censorship-resistance and permissionless-ness. What the "letter" failed to suggest is that because of those sanctions on Iran's Oil exports, Iran started to use their Oil to produce Bitcoin then export that, something very portable and impossible to stop. Political strongholds are being weakened, and sooner or later, they will be broken through Bitcoin. But there are people who already imagined this possibility. |
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Looking at this part of the documentation, it's not efficient in terms of TX size. An Arch Indexer, constantly listening for new bitcoin blocks, checks each transaction in the new bitcoin block to see if it fits within this invocation format: OP_FALSE
OP_IF
OP_PUSH "arch"
OP_PUSH "state"
OP_PUSH "insert_state_string_here"
OP_PUSH "psbt"
OP_PUSH "insert_base64_psbt_string_here"
OP_PUSH "inputs"
OP_PUSH "insert_stringified_input_json"
OP_ENDIF It have same problem of Ordinal where you need to create 2 TX, where 1st TX create new Taproot address (which have condition to reveal the arbitrary data) and 2nd TX include the arbitrary data. You teach me, thanks. I posted the topic because it's one of those being built on Bitcoin that doesn't use Ethereum's virtual machine. Their developers say that with Arch, it's easier to build a protocol with smart contracts on top of Bitcoin because it's UTXO based. I'm not that sure what they meant because if it was easy, would it have been built a long time ago? Or was there simply no motivation to build it? |
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It's quite sad to see a bad member win to be honest. Every time some guy hijacks a thread it hurts many people, especially when they just don't seem to want to listen to advice.
Still I would have continued to report the guy while hoping the mods would delete spam. I know it doesn't always work but anyway, self mod thread it is.
I believe opening a self-moderated topic to replace the old one is not a win for the trolls. In fact, if you ask me, all services in BitcoinTalk should open their threads with the self-moderation flag on. The topics will be cleaner and easier to enter discussions. Censorship in the forum shouldn't be a concern because anyone who has something to say can always open their own topics, and post their complaints. |
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OP, if you want real reliability then use BitStamp. It's old, but it works. If you you're going to do some shitcoining, then probably Kraken? Although their list of shitcoins is very limited compared to the Asian exchanges that were already suggested in the topic. But merely for reliability - BitStamp and Kraken.
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This thread 🧵 shows one thing humans are really really really fucked as that can’t agree on foods you can eat never mind the price of the food.
Well as you can see humans have had a long history of life and society. Back then bread and water would have been good but now as we advance so does our culture and beliefs. We have learned about agriculture which is how a lot of countries are accustomed to eating rice and other plant crops meanwhile it is not that common in other countries. It’s not really about preferences but more of what is accessible and available to them. It’s difficult to reverse thousands of years of cultures and history so we can all agree on what food to eat as a whole. Coming back to the abilities of different people, not everyone is ready for this change, so I think we have to prioritize ourselves to achieve it all without depending on the government or its policies. And for food it also depends on our financial capacity to be able to fulfill it or not. Well said, We should not depend everything to the government, what's more important is for us to gain more knowledge and experiences so we can have a higher pay. in truth, everyone can grow independently especially when it comes to career but are afraid to try and take risks because they don't have confidence in their abilities. You have the right idea, but the wrong context on insufficient wages and high prices of goods/services. The actual reason why the government shouldn't increase salaries and wages is because it's inflationary. If the government implements higher wages, then the companies who now need to pay higher wages will simply increase the price of goods and services. It's not because they're "greedy", it's because there's always a cost. |
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So it goes like this:
Dark market quality, best of the best, the hardest privacy, the choice of the drugsellers, money launderers and terrorists: Monero
>
Porn addicts, weirdos, pot buyers: Litecoin MW
>
Everyone else: btc
I’m am OK with MW :d
But that's unfair to make such classifications, no? What if a normal user likes Monero or Litecoin for coffee transactions because they're faster? Or because he/she simply likes the logos of those coins?  "For everyone else", I believe Bitcoin could also be used for the utility of those other cryptocurrencies if you know what you're doing. |
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@blackjack.fun can you tell what's the main reason why the old ann thread was locked and now created a new with self-moderated thread?
To avoid spam fest against their brand since they recently attacked by a certain user here in the forum. They probably already have enough of explanation and just do the easiest way to avoid endless debate against user that doesn’t want to settle the issue using their own way. Plus any person could start their own topics, and repeatedly post over there every day if they truly believe that the casino has done something wrong to them. No one will stop him/her. But of course they will use the cypherpunks' ethos against you. They will tell everyone that they're being censored. Censored? He/she can literally start his/her own topic.
I believe the old thread is much better for transparency but it’s up to them in how they want to communicate in the forum as long as they are still reasonable to hear out players concerns then I don’t have any problem with self-moderated thread.
I believe the whole forum is transparent enough. Transparency should not depend on a mere thread. The spammer can make a blog about his/her experience if he wants to do that. |
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>>snip<<
I am still surprised you trust these politicians and Governments that will do anything to stay a float and try to control their people, or should we say flock? Politicians will follow any trend so long as it benefits them and feeds their greed. Once they have taken a grip of their people, they will ban whatever they think is no longer useful to them.  Before you post, could you please read what was posted two times and try to get the context? Especially before snipping. What I said was that some of them might have gotten smarter and have gone deeper in their understanding of Bitcoin. Because I give SOME credit doesn't mean I trust them. We should always get the actual context, no? |
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Is there a way to know what caused the spike? Was it in sports-betting or casino wagers? I believe it's from sports-betting, the spike might be seasonal. Casino wagers might have more permanence.
We will never know from the spike and they are the ones with the stats. But you're right, I think it comes from sports betting, @noah said the amount of sports betting is small but it changes when a big game comes along where the bettors will bet even bigger so maybe the spike is the result. [1]. https://twitter.com/noahdummett/status/1785526493675913682I believe if you're a speculator/trader, it might be consistently profitable to accumulate SHFL days or weeks before big games like the NBA Finals, then start taking profit when the casino starts buying back larger amount of the tokens for burning? If the trade actually is profitable, and the public notices that it's profitable, then more and more people will start accumulating the token in anticipation causing FOMO. But would it be causing the spike though? Wouldn't people rather accumulate by just buying the cheap tokens now rather then gambling hard? As it's probably more cost effective if only reason is to speculate with the price. Or has someone done the math on how much $ worth you need to gamble in order to get one $shfl? To be honest, I don't know. Please don't take it as financial advise. You should remember that I'm the stupid one in the forum. But with every big event in sports, it might possibly also increase wagers in Shuffle, and therefore also increase buy back and burn, which therefore might increase the token's price.
And there might be some weird algorithm that changes rewards depending how you are gambling. That is rewarding more the non "miners". Like getting more by playing certain games, slots or sports. For example in stake you get x3 boost on vip leveling with sports betting. I would expect that they would have revealed if they had something like that, but who knows.
¯\_(ツ)_/¯
Anyway, i noticed that they have now double VIP level-up rewards when wagering in SHFL. I thought this would cause huge burn rate, as i thought that all lost tokens are being burned, but turns out they are burning only 30% of lost tokens. I guess it's something, but i am little disappointed on that.
Burn is burn, and that makes an asset more scarce. It is definitely something. |
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Is there a way to know what caused the spike? Was it in sports-betting or casino wagers? I believe it's from sports-betting, the spike might be seasonal. Casino wagers might have more permanence.
We will never know from the spike and they are the ones with the stats. But you're right, I think it comes from sports betting, @noah said the amount of sports betting is small but it changes when a big game comes along where the bettors will bet even bigger so maybe the spike is the result. [1]. https://twitter.com/noahdummett/status/1785526493675913682I believe if you're a speculator/trader, it might be consistently profitable to accumulate SHFL days or weeks before big games like the NBA Finals, then start taking profit when the casino starts buying back larger amount of the tokens for burning? If the trade actually is profitable, and the public notices that it's profitable, then more and more people will start accumulating the token in anticipation causing FOMO. |
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I'm genuinely asking to learn. - But couldn't developers already store arbitrary data within the blocks if they wanted to before Segwit? I remember there was a marriage certificate "in the blockchain" and other arbitrary data.
There is an accepted method of storing arbitrary data in transactions through OP_RETURN that is limited to 80 bytes and is also easily pruned from the UTXO set since they are provably unspendable. Other methods are not acceptable and are damaging like creating an unspendable output that can not be purged from the UTXO set so it remains there forever.
It might be a very dangerous path because, who is "we", and does "we" speak for the whole community?
The same "we" that has been deciding what can or can not be done up to the Ordinals Attack! For example the same "we" that didn't allow you to inject an arbitrary data as that dummy item that is popped from the stack in the OP_CHECKMULTISIG(VERIFY) op codes. OK, then what do the "we" propose do to effectively get rid of the "Ordinals Attack"? Plus have there been proposals from the Core Developers?
I'm genuinely asking to learn. - But couldn't developers already store arbitrary data within the blocks if they wanted to before Segwit? I remember there was a marriage certificate "in the blockchain" and other arbitrary data.
yeah they probably could but using OP_RETURN. limited to 80 bytes. so people can't go crazy. or it will cost them more than its worth to them. a self regulating mechanism. It might be a very dangerous path because, who is "we", and does "we" speak for the whole community?
thats a good point. but if we make the basic assumption that bitcoin was meant to do financial transactions and not to store peoples' private data then we is everybody. But currently, does that basic assumption actually hold true for everyone?
There is an accepted method of storing arbitrary data in transactions through OP_RETURN that is limited to 80 bytes and is also easily pruned from the UTXO set since they are provably unspendable.
To me, this was acceptable until it reached thousands of OP_RETURN transactions per block. See Mempool Goggles. The larger spam transactions are now replaced by many more small transactions. It's still spam and takes up block space that could have been used by real Bitcoin users. A person who uses Bitcoin in a way that you don't approve of, but paid the fees for block space, and followed the consensus rules is not a real Bitcoin user? |
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