Laszlo popped in on bitcointalk briefly in 2014 and share a little bit about himself. Sadly, he spent everything he mined. Someone in that thread tipped him 1 btc though, so he may still "make it" if he holds on to it. Thanks for the kind words guys. The pizza thing was a lot more popular than I thought so I made good on as many trades as I could. Other than a little bit of single digit change, I spent everything I mined. As you all know, the difficulty rises to adjust to hashing power, so eventually the mining wasn't worth it for me. GPU mining BTC in 2010!??
As far as I know I was the first to release a GPU miner. I contributed the hash meter back then too, that's what the screen shot was all about. I used to maintain the Mac OS builds but others have taken that up now. It was a fun project and I learned all about OpenCL. I can't find the thread on the forum anymore but you can find it in my web dir ( http://eclipse.heliacal.net/~solar/bitcoin/sha256.cl ). That was back in May 2010. Maybe there were other people who were doing it in private too, though. For a long time I had been looking for a reason to learn how to write a shader, and this was a great project for it. The way I looked at it, I was helping out with an open source project, and I was making pizza with my code. You guys will laugh now but I mined everything with an nvidia 9800 GTX+ on Mac OS (hackintosh, another scene I used to help out in). I ended up getting 2 AMD Radeon 5970s with the bitcoins I was mining, but at the time, the OpenCL libraries from AMD and nvidia both were really buggy and I never got it to work right on more than one GPU. The same code that would work on the nvidia on linux wouldn't work on windows and vice versa. I was trying to make a generic OpenCL miner that everyone could run on all 3 platforms, and I spent months tweaking different kernels for each GPU, but I was also working two jobs at the time and so I never finished it. I ended up just leaving bitcoin on the back burner for a few years, then it exploded and people started asking me about the pizza trades. Every time the value goes up on exchanges, people email me asking me to comment on it, but really there isn't much more to tell than what I explained here. This is the old GPU mining release I made for Mac OS, probably won't work anymore though: http://eclipse.heliacal.net/~solar/bitcoin/Bitcoin-MacOSX-Intel-svn-75-opencl-2010-05-10.dmg |
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Interesting story, but I can't understand why would you refer to it as a scam.
Well the court said it was science in the end so their opinion matters more. I would label it as a scam initially because it was unknown and hidden technology used when no other player knew or had use of this, its clearly to an advantage and most would say unfair in competitive terms. I applaud their ingenuity and invention of course but not in game terms really. I get your point, but when playing roulette, you're playing against the house, not other players. So if the player had used laser in a way that did not alter the behaviour of the wheel but (I assume) only measured the imperfections of the wheel to determine on which fields is the ball more likely to land - then I see nothing wrong with that. It's ultimately the casino's responsibility that their equipment works as it should. |
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I tried to send a transaction ~2 weeks ago or so, since there was no rush, I went with the "economic" fee, which was expected to get confirmed in around 2-3h. I send the maximum amount, so there was nothing unspent to bump up the fee (CPFP). Despite getting additional funds, I still can't bump it, when trying, I'm getting this error: "Transaction has no utxo to form a child transaction or utxo has already been spent". I rebroadcasted it a few times, just in case, but no luck so far. Transaction details: 4e7d9250a5571008fc385fef67c3e6cef7d8adc8d6d171de0133eaff564779b2What are my options now? Does Mycelium auto-rebroadcast unconfirmed transactions? If I delete the transaction from the wallet and it gets forgotten by the network - the message says I'd need to synchronize the wallet, how do I do that exactly? Or is it just easier to use a paid-for miners tx bumping service? |
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title says it all
If you're older than 16 y.o. and still believe that direct democracy will solve all the problems - there's no hope for you. Voting on every issue would require every citizen to be an expert on every single matter that is put up for voting, which is simply impossible. And that's not to mention that the majority of the population is simply incapable of comprehending complex issues or consequences of changes (the average IQ in developed countries stands at around 100). |
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Actually is not up to 10yrs I know Bitcoin but then I have known Bitcoin since 2018 and that was after it's ATH in 2017. Since then I have seen Bitcoin price fluctuate but still I won't say it is a bad experience and I also believe that before my 10yrs experience in Bitcoin I will make a huge profit and I believe it 😀😀
What do you mean by making a profit really? Do you plan to hold to a certain point and sell it all when the price reaches the target? Do you have any strategy for investing in crypto, i.e. doing DCA, selling at what looks like a top and buying back cheaper, or selling some percentage of your holdings each time the price doubles? I think most of people here don't really have a plan, which is not wrong on its own, but it exposes them to making mistakes and spontaneous trading based on emotions, which rarely ends well. |
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Hello guys!
Today I was thinking about Bitcoin and where it will finally go up. And I came to the conclusion that I don't really understand what is the right thing to do with Bitcoin after it will "go to the moon".
So I wanted to ask you all, what are you planing to do with bitcoin when it will go to 70k, 80k etc. Are you planing to sell it or you will keep holding it?
If you will sell it, at what price are you planning to do it?
I'd definitely sell some when it looks like the price might have reached the cycle's peak. I'll be aiming to sell around half of my stash (depending on where the price will be) to help me finance some purchases to improve my own and my family's life. For the remaining part, I'll probably sell also around half of that (so ~25%) and try to buy back when bull run ends. But, as historically I wasn't doing that great in predicting market trends, I'd like to just hold the remaining 25% (i.e. in case I make a bad call and bull run keeps going). I don't intend to ever sell 100% of my bitcoins and would like to pass at least some to my children at some point. |
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Honestly, I like to mind my business, but I got it loose yesterday evening when a co-neighbour invited all of us to a birthday party. Normal, gist went on until this elderly neighbour working for CBN (Central Bank of Nigeria) as a director in one of their branches stated that people now launder money in Bitcoin thereby making it difficult for the law enforcers to trace. This is where I took it personally, else I would have been a bastard of BTT.
(...)
Haven't you overreacted there a bit? It doesn't sound like he was bashing Bitcoin in that statement.. If you don't link your identity with your bitcoin address in any way, then tracing it back to you would be impossible, so he wasn't wrong there. As for using Bitcoin for money laundering - I don't think it's a good tool for that (depending on the local laws I guess). Laundering does not mean hiding your money, but making illicit proceedings appear legit, so using Bitcoin alone won't help here, as you'd still need to be able to explain where did you get all those bitcoins from. |
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(...) and contribute to the recovery of the Bitcoin market positively as well.
If true, it will contribute positively, but the effect of such contribution will unlikely be significant. First of all, they'll be aiming to buy at the best available price, so they won't be dumping all that $200m all at once, but probably do it in tranches and/or make an OTC purchase. Second of all, the US government is reported to dump a huge amount of bitcoins (seized from the SilkRoad "hacker") this calendar year. I can't remember how much was it exactly, but it was over $1 billion worth (they'll dump it in batches), so that $200m won't even fully counter balance the fed's dump. |
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Any financial market will be manipulated, but with a small cap market, without any regulatory authority, manipulation is much easier. If you think that a market with a capitalization of more than 10 trillion USD like gold is still heavily manipulated, with a market capitalization of only 1/10th of gold like crypto, will manipulation become difficult? I'm not saying it's always manipulating all the time, but manipulating prices for profit in crypto more than any other market. Do you think bitcoin's drastic price fluctuations are based on supply and demand?
Fine, but by that logic, there are thousands of individual, publicly traded stocks with market caps much lower than Bitcoin's. So why would you say that Bitcoin is easier to manipulate that those? And I don't think regulations have that much impact on preventing manipulations by 3rd parties (they might be helpful in preventing manipulations by "creative" reporting though), GameStop's stock hype can be a good example. I guess you could say that stocks have fundamentals, which is something that Bitcoin (and other cryptos) are lacking. |
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Okay, so Merit is just like a Thumbs up reaction/Feedback to someone if their post is helpful,interesting or they do agree to somebody.
In a sense - yes, but you have a limited number of merit points you can send (for every 2 merits you get, you earn 1 merit you can send to someone else), which makes it much different, i.e. people tend to merit posts that they find helpful or valuable rather than throwing merits around at every post they agree with. Is there like an A.I. that can Determine if a post is worth to be merited or not? If there is no such thing like that then you guys do it Manually?
Nope, it's entirely subjective and done manually. Wouldn't make much sense otherwise. |
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There was a casino scam done with lasers vs a roulette wheel. It measured bias on which numbers best to bet on every turn, somehow they created a system that would put players into profit. The players won so much the casino came over and recognized lasers were being used. The players won millions so it actually went into a court case, the Judge decided no specific rule existed to say players may not use lasers on casino premises so he gave a court order for the winnings to be released to players despite their extra scientific help.
Maybe the judge thought it was good for science or academic endeavors, anyhow the casino lost but will have altered their rules and preconditions for play to include such genius inventions as gamesmanship outside of what they will ever allow as a win.
Interesting story, but I can't understand why would you refer to it as a scam. If all the player did was to use a laser to (I imagine) measure imperfections of the roulette wheel and take advantage of that, without tampering with it in any way - then I see nothing morally wrong with that. Good for him. Assuming that whenever a player finds a way to shift the edge to his side it must be some sort of scam on his part is a bit unfair. But it's amazing how creative people can get when there is money to be made. |
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Regardless of whether that conclusion is correct or not, but I think there are always those who consider bitcoin as a safe store of value asset instead of a high-risk investment asset.
Someone who still had price volatility in mind when choosing bitcoin as a store of value would definitely not agree to using bitcoin as a safe store of value. This mindset certainly exists among investors, but it must have elicited a skeptical response among some who think 1 bitcoin = 1 bitcoin.
Sorry, but that's precisely why some would label Bitcoiners as a bunch of detached-from-reality fanatics. Irrespective of how you consider it, Bitcoin is volatile, that's not an opinion but a fact. Stating "1 btc = 1btc" in the context of the store of value is silly, as it's not the best in holding the value, because of high volatility. Whether you express value in USD or anything else, e.g. loaves of bread is irrelevant. The point still stands. |
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I agree regarding "doesn't take much to get congestion issues". Layer1 is just extremely limited in regards of data-capacity and a good scaling solution here is not on the horizon at all. Lightning will help (layer2), especially for mid/low-value-payments, but it's just one part of a difficult puzzle.
However, right now, fees are at an almost reasonable level already and with 10 - 20 sat/byte most stuff goes through quite rapidly already.
They're seem to be slowly coming down but an average fee of >$4 per transaction is still pretty high. I made a transaction with a 12sat/vbyte fee and it's stuck for almost a week now (can't bump the fee as was sending entire wallet's balance). The problem is some wallets are not doing the best job in terms of estimating fees/transaction times. When I made it, it was showing as "Economic" with 2-3 hours expected confirmation time (Mycelium wallet). Needless to say, that was far from accurate. On May 16th, Ryan Gentry from Lightning Labs announced that they are launching Taproot Assets v0.2. As far as I understand, this update should allow us to operate with tokens mainly in the second layer and not take up as much space in blocks as happened recently. Will the new solution from the Lightning Network help solve the problem and reconcile the community with tokens without a mempool congestion? Thanks for sharing. Sounds like a step in a right direction. |
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As anyone here, I can say I lose money on dice game, but I never have problem with FreeBTC, always it paid me. Lost money on their gambling page is only my fault.
Same here, I've never experienced any problems with withdrawals. Although it's possible that that guy's complaint could've been due to possible delay in withdrawals related to unusually high tx fees (not sure if freebitcoin is affected by that though). The default fees on Withdrawal page seem rather low, so unless multiple transactions can be pooled together, it looks like there's a risk of delay. But since he didn't bother to elaborate any further, I think it's pointless to speculate on that. |
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There is a bigger difference that you ignore. The stock market is more dependent on supply and demand, while the cryptocurrency market is not entirely based on supply and demand and is manipulated most of the time.
How is Bitcoin's price any less dependant on supply and demand than any stocks or commodity? Can't any publicly traded instruments be manipulated the same way? Gold is known to be heavily manipulated (via trading of the "paper" gold) etc. Bitcoin is a store of value during inflation and has been considered by several investor groups.
It would be great if that was true but it's simply not. Bitcoin had its biggest rally during the low inflation/low interest rates period, and it's just not performing well as a hedge against inflation. When CPI goes up, Bitcoin's price tends to drop, which can be explained as people having less disposable income and are reducing their spending on crypto. Meaning BTC is generally still viewed as more of a high risk - high reward type of investment rather than as a safe store of value. |
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But we can still use some signals because bitcoin still follows the stock market and people use it like an asset. It's not like it's moving down and up magically, but because people are buying and selling it all the time depending on the signals they see or market trends.
The correlation between stocks and bitcoin price is not always that strong and there was a moment, during the recent scare of major banks being at the risk of collapse, when Bitcoin seemed to decorrelated for a while and went up when stocks went down, and was behaving more like a gold. So I wouldn't rely too much on stock market signals. Not too mention there are some regulatory risks to the crypto market on the horizon, which wouldn't have much effect on the traditional stocks but could hit Bitcoin. |
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Fresh article from the mainstream from today about USDT announcing they'll be buying >$200 million worth of bitcoins to diversify their reserves. Sounds bullish, but not sure how believable they are. Tether buys bitcoin with a portion of its net profit to back USDT stablecoinhttps://www.cnbc.com/2023/05/17/tether-buys-222-million-worth-of-bitcoin-to-back-its-usdt-stablecoin.htmlCryptocurrency giant Tether on Wednesday said that it’s going to purchase hundreds of millions of dollars’ worth of bitcoin to back the world’s largest stablecoin.
The company said it would invest 15% of its net profit into bitcoin to “diversify” the reserves that back its USDT token, which aims to stick to a 1-to-1 peg to the U.S. dollar.
That would amount to roughly $222 million, based on the company’s last attestation report, which provides a breakdown of the assets that make up its USDT reserves as well as excess reserves and profits. |
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Starting to return the stolen bitcoin to the exchange it was obtained from is the last thing the government would do. The government's plan for the stolen bitcoin is to distribute it internally, which will force them to sell it for any amount.
In a normal circumstances, they'd have no choice and would have to return stolen funds to the victim, but in this case, the business he "stole" from was highly illegal Silk Road market place, which got shut down and its owner got sentenced to double lifetime. Only a fool would consider pursuing women first after having gained money without making any investments that would continue to bring him income.
Seriously? The guy was sitting on ~ $3 billions and your advice is that he should've focussed on earning more money?!. He could not spend that much during his entire lifetime even if he tried. How much is enough for you? |
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Coinbase is currently fighting this fight for us to get clarity.
With no luck so far. They managed to get the court to force the SEC to respond to their petition but they got denied with SEC essentially telling them to f**ck off and that they'll take however long they want to clarify the rules. https://blockworks.co/news/sec-responds-to-coinbase-request-for-action-noIn its response, released Monday evening in New York, the SEC alleged Coinbase has no right to mandamus, which orders a government agency to fulfill certain duties.
“Perhaps recognizing this, Coinbase instead asserts that this Court should compel the Commission to act on Coinbase’s recently filed rulemaking petition,” the SEC wrote in its response. “But no statute or regulation requires the Commission to take such action on a specific timeline.” |
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they scammed me and did not let me withdraw
Tough luck pal. But if you want to appear serious, you could at least put some effort and attempt to provide some more detailed information on what exactly happened, i.e. how did they deny your withdrawal request, did they email you saying it's not going to happen? Did you get any error message when trying to withdraw? Maybe it's the transaction stuck in the mempool? Your entire post history are 2 posts saying you got scammed with zero details. Do it right or don't bother at all. |
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