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1441  Economy / Speculation / Re: What if there is no crypto bull run for next 10 years ? on: August 28, 2023, 02:15:59 PM
There's two sides to this story. Let's assume we do not see any bull run for next 10 years, but we do not see any bear run as well. Which means the price of Bitcoin will stabilize. That will be great for Bitcoin because then Bitcoin will be used for transactions and not for investments. It will create adoption opportunities for the merchants. Price stabilization is a very important thing for transactions. An unstable currency is not a great mode of payment, but when it stabilizes, then a lot of merchants will consider it as a mode of payment.

I think that we have already managed to overcome the problem of price volatility with BTC long ago when it comes to payments with something called payment processors - and they are the simplest way for the buyer to pay the amount of goods or services at the given price at a given moment, and for the seller to receive the requested amount in fiat.

It is not very realistic to expect that the price of BTC in relation to fiat will stabilize to the extent that payments would go directly according to the model BTC address - > BTC address, as well as that price stabilization would have such a positive impact on merchants, because they even offer a lot that can be bought/paid with BTC, but there is too little interest from customers.

The problem is that the vast majority of those involved in BTC do it only for profit, whether it's an average Joe or companies worth billions or even trillions of dollars.
1442  Bitcoin / Electrum / Re: unauthorized transactions on: August 28, 2023, 01:28:17 PM
No. I always used the password-protected program with a password that I only used there and that I had memorized (not written down anywhere physically or digitally) so there is no way anyone could have accessed it.

As @Pmalek says, if everything is as you claim, then your case is a mystery (for now), but there must be an answer because nothing happens by chance. Given that you say that you have memorized the password (which is not very smart), is it a password that is easy to guess, or is it so simple that it would be easy to brute force it? Let's say that despite everything you've already written, someone still managed to get hold of your wallet, and then guessed/brute-forced your password.

The other thing that continues to catch my attention, as I have already mentioned, is that they did not empty the entire wallet and if it had been a hack or someone who had accessed my private keys or passwords, the logical thing is that they would have emptied it completely.

I already wrote my theory (although it sounds a bit cinematic), but I think that @pooya87 is probably much closer to a possible answer as to why the hacker did not clear the entire amount. Go back a few posts and read his answer again, but of course the question still arises as to how the hacker managed to penetrate your system in the first place.
1443  Other / Beginners & Help / Re: Save in Stable Coin Or Save in Local Currency? on: August 28, 2023, 01:02:39 PM
My goal is also profit alone, and I don't think eth is going anywhere, time will tell.

I didn't even think that you had any other goal like most of those who are on this forum and outside it. In other words, you and others like you invest in everything that can bring you profit, regardless of how much these things are in their essence completely opposite to what Bitcoin represents.

I see more potential of profit in eth than btc, so I choose it and not Bitcoin. Regarding last statement, this forum is filled with Bitcoin maxis anyway, what are you implying?

I am more for the idea behind something than exclusively for the profit that can be realized only because something has the potential to be profitable. What I want to say is that we are not all here exclusively for profit, no matter how unreal it may seem to you and to all those who read.

Yes, I have something in my signature that I promote, but in the last 3-4 years I spent maybe 1-2% of everything that came from that source.
1444  Other / Beginners & Help / Re: Save in Stable Coin Or Save in Local Currency? on: August 28, 2023, 10:20:36 AM
All comments are pretty much regurgitating same thing. If I was you, I would spot purchase Ether, leave it in self-custodial wallet and check back couple years later with profits harvested in USDC, I trust it more than USDT, reasons unknown.

It seems that you have a lot of faith in a cryptocurrency that is practically heavily centralized and based on POS, and something that can cease to exist at any moment if some angry bureaucrat in the US gets off on the wrong foot. The private companies behind such "products" are after all only private companies whose goal is only profit, and they do not have nearly enough resources and competence that for any reason you trust them more than some currency backed by a powerful government with its strong economy.

I see no reason to stay in fiat/stable-coin at current prices, it's time to dive-in.

I don't see a reason for that since I found out that there is something much better than both of the above, but everyone chooses their own way of storing value - someone will say Bitcoin, someone $, someone else will invest everything they have in a herd of goats or sheep.
1445  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 27, 2023, 01:43:49 PM
Is it twenty-six or twenty-nine,🤔
does Buddy have a secret mine👷
is he sitting in front of the screen👨‍💻
or enjoying the shade of the pines🌲


Good luck Buddy in the new week🍀
1446  Other / Meta / Re: how to know how many members have badges? on: August 27, 2023, 01:13:11 PM
~snip~
I try to search Badges by "Search by position" but it does not work.

The fact is that these are mostly old members, so you need to dig very deep, considering that members with such badges are mostly inactive for a very long time. Sometimes an old topic appears on the surface in which members with such badges can be found.

One of the examples is this very topic -> NSA and ECC and this one -> Thoughts on type safety and crypto RNGs
1447  Bitcoin / Bitcoin Discussion / Re: Here is a tight slap to bitcoin haters on: August 27, 2023, 09:44:31 AM
Only when you think about how stupid it is to say something like "Bitcoin is dead", we realize how stupid those who persistently say it really are. Bitcoin is not a living being that someone can take its life, and not even technically kill it in the sense that it will disappear at some point - but that only shows how some people do not understand what real decentralization is.

The only difference between those who publish such news is that some are really stupid to understand, and the others understand very well but are paid to write nonsense.
1448  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 27, 2023, 09:26:44 AM
What do you guys think will happen? Will it hit 35k by the end of 2023 or it go down 25k? Waiting a lot for the outcome.

Why do you think that someone can give you a precise answer to that question? We can speculate as much as we want, but it will not make us any smarter to come up with an answer that could be considered precise in the sense you expect. Scenario A is that something positive will happen that will push the BTC price up, and scenario B is that something negative will happen that will keep the price below $30 000.

Anyway, expecting a big bull run in the year before the halving has so far turned out to be an unrealistic option, but no one is stopping you from hoping, you can even write a letter to Santa Claus to make your wish come true Wink
1449  Other / Beginners & Help / Re: Save in Stable Coin Or Save in Local Currency? on: August 27, 2023, 09:10:20 AM
People should know that most of the so-called stablecoins are not stable or secure in the way they think, and someone has already posted a link to a topic that makes it clear that most stablecoins can be frozen regardless of the wallet they are in. Now the question arises whether someone will take a risk and keep stablecoins, or will take a risk with fiat currencies, which for me are still safer in the sense that they are backed by states and central banks (with some exceptions, of course).

Any way you look at this question is a matter of risk assessment, I would still choose some fiat like Swiss Franc or Euro much more than any centralized stablecoin.
1450  Bitcoin / Bitcoin Discussion / Re: Bitcoin 2008/09-2022 History Paperback/Hardcover Book on: August 26, 2023, 01:46:17 PM
I have nothing against what you are doing, probably many people will like your book, but it would be nice if you did not create a new topic every time you visit the forum, but that you have the whole discussion in one place. It will soon be 1 year since you announced your project, and I see changes in the strategy - no more altcoins for donations Wink
1451  Other / Meta / Re: Request: Disable JayJuanGee in the Wall Observer thread on: August 26, 2023, 01:25:09 PM
Better solution. Remove the Wall Observer thread and the speculation section.
Would clean up so much junk / spam.
~snip~

If the forum administration would go in that direction, then they could also remove the Bitcoin discussion, in which realistically at least 70% of the content is completely useless and meaningless - and what about the Altcoins boards that spammers took over a long time ago, or maybe Gambling boards?

What we need are quality solutions that will prevent the creation of alt farms, but we certainly won't achieve that by closing one board at a time, because as long as there is financial motivation for ranking accounts on this forum, there will be those who will in all possible ways try to use it.



Although the OP is written in an ironic tone, I have to say that, to my mind, there is a lot of merit in the time JJG spends reading through the forum and distributing his merits, many times outside the WO thread as has been commented, and most of them one at a time. Although from time to time he gives two for one post.

There have been quite a few times that when I have logged in the forum I have seen that I have been given a merit, I have gone to see who and it turns out that it was JJG for a post I wrote months ago on page 3 of a thread. When I go to the thread I see that he has distributed other merits along the thread, so I can see that he has read the thread from cover to cover distributing merits to the posts that he considers worthy.

And the thread is maybe 8 pages long, being 3 months old. I think that level of dedication to distribute merits is unrivaled.

I noticed that too, and I can say that it is almost a unique phenomenon on the forum - to get merit for a post that was created even several years ago and is in some megathread is sometimes quite surprising. Of course, it would be unfair not to mention another excellent merit source (@DdmrDdmr) that is known for large distributions of merits, and very often for posts that it has already awarded in the past.
1452  Economy / Economics / Re: Top richest from history, one hyperinflated the economy single handedly! on: August 26, 2023, 12:54:33 PM
You will be shocked to see how much money these people had during the period when having thousands of USD was worth millions to billions in todays conversion rate!
~snip~

Even today, many people would be surprised to find out who the richest people in the world are, and they are certainly not people about whom hundreds or thousands of articles are written every day. These are people (or families) whose wealth was not created in a short period of time (several tens of years), but who acquired that wealth over centuries, and it is not measured in billions, but in trillions of $.

These are people who, unlike some others, do not need and do not want media attention, and the so-called richest people are for them children playing with change.
1453  Bitcoin / Bitcoin Discussion / Re: a Monopoly-Inspired Journey to Accumulate 1 BTC on: August 26, 2023, 10:33:48 AM
Some say you can earn 1 Bitcoin from signature campaigns. Many of them pay up to around 0.004 Bitcoin per week, that means it takes 5 years to stack a whole Bitcoin. If Bitcoin goes up in value it might take longer.
~snip~

There are also some sig campaigns that pay up to $200+ (even $250 per week), which means that theoretically it would be possible to earn 1 BTC in a little more than 2 years if the monthly amount was around $1000. Of course, considering that it is not forbidden to have alt accounts and participate with them in different sig campaigns, I think that some earn 1 BTC much faster than others.

The OP is definitely not in that position because he doesn't have a sufficient rank to begin with, and I believe he doesn't have enough knowledge either. But that is no reason for him not to try to go in that direction as well, if he becomes active on the forum, he will surely learn a lot, and he will be given the opportunity to earn something along the way.
1454  Other / Meta / Re: how to know how many members have badges? on: August 26, 2023, 10:14:09 AM
Yeah, achow101 had a badge at one point. I have to ask though, was the Bitcoin expert badge too through a contest or just a recognition that one is a very active bitcoin developer?

Then I was partly right, because it seemed to me that he had a different badge, and I'm pretty sure that one of those old and experienced members had a Bitcoin-Qt core developer badge.

I am not aware that such a contest has ever existed, and the only logical explanation is that the admin made it as a small recognition for some members who deserve it for a certain contribution in the development of Bitcoin.

The link to their list is in Forum ranks/positions/badges under Badges.
1455  Bitcoin / Bitcoin Discussion / Re: Strategies of Institutional Bitcoin Accumulation and Their Motivations on: August 26, 2023, 09:48:51 AM
Where did you get that information from? BlackRock is only exposed to BTC as a shareholder of Microstrategy, and why would they buy BTC if their spot BTC ETF has not been approved yet?

because they need to have reserves to prove they can open up a ETF market
they need to have the reserves to even be able to offer baskets of shares that represent the coins
they cant sell unbacked shares to then buy coins they do not yet have.. as thats against the purpose of a ETF
its why the winkle twins(gemini) grabbed loads of coins before filing a ETF many many years ago. its why grayscale did too

I was convinced from some other discussions that the purchase of BTC occurs only when the ETF is approved and when their clients express interest in such an investment. But let's say you are right, is there some amount of BTC for the purpose of proving that they as a company are ready to offer such an ETF?



Likely Saylor and MicroStrategy only did Dollar Cost Averaging when they had new capital for DCA. They don't care what is price of their buying and I remember I read that after MicroStrategy buyings, Bitcoin usually have dips.
~snip~

You are right, and I remember it as a somewhat strange coincidence that has already become a rule, which only confirms that Saylor and his company have almost no effect on the price. If someone else like Mr. If Mars or Bezos bought the same amount of BTC and announced it publicly, I'm sure the price would jump by at least 15-20% within a few hours, and at least 25% in the next few days.
1456  Bitcoin / Bitcoin Discussion / Re: Strategies of Institutional Bitcoin Accumulation and Their Motivations on: August 25, 2023, 01:44:42 PM
When Michael Saylor's, MicroStrategy buys bitcoin, the market price increase and they usually do so to mostly when the market is experiencing a down turn.

I would not agree with that assumption, because even though this may have been the case in the beginning, now these investments are less and less (if we look at the amount of BTC purchased) and have almost no influence on the price of BTC. Likewise, Saylor is not one of those who knows (or wants) to hit the dip, but buys when they have enough cash, regardless of the price.

Correct me if I am wrong but I am assuming they don't do so from miners via OTC trading offers. Keep reading . I was still years old(don't crucify me) when I learned that institutions can accumulate substantial amounts of Bitcoin without triggering significant fluctuations in the market price. They execute this through purchasing Bitcoin directly from miners via OTC trading offers.

Exactly, if you want to buy a lot of BTC without affecting the price (which is desirable if you plan further investments), then use the OTC method and a company that will do it for you. An example of how it was done by Microstrategy with the help of Coinbase:

We’re excited to announce that Coinbase was selected as the primary execution partner for MicroStrategy’s $425 million purchase of Bitcoin earlier this year. Using our advanced execution capabilities, leading crypto prime brokerage platform, and OTC desk, we were able to buy a significant amount of bitcoin on behalf of MicroStrategy and did so without moving the market. MicroStrategy chose Coinbase because of our market leading tools, which include smart order routing and advanced algorithms as well as our white glove sales and trading services.

Our system takes a single large order and breaks it into many small pieces that are executed across multiple trading venues. This type of smart order routing minimizes the trade’s market impact and helps disguise the overall trade size. Leveraging our technology, the trading team achieved an average execution price that was less than the price at which buying started. In periods of high volatility, our advanced trading tools improved the client execution by as much as 1%. For MicroStrategy, this strategy resulted in savings of approximately $4.25 million.

Now, I have learned that this is one of the ways that Blackrock is accumulating bitcoin. As some asked, I will ask here too: when institutions use this "silent" method to buy bitcoin, are they doing it to gain control of a large percentage of the market or it is purely profit driven?

Where did you get that information from? BlackRock is only exposed to BTC as a shareholder of Microstrategy, and why would they buy BTC if their spot BTC ETF has not been approved yet?
1457  Bitcoin / Bitcoin Discussion / Re: Bitcoin Distribution among Accounts on Blockchain on: August 25, 2023, 10:46:07 AM
This is wrong - According to this site Bitcoin Exchange Balance there are only 2.2 M BTC on exchanges (~15% of supply) and this number goes down starting from 2020 when it hit ATH @3.2 M coins.

I don't know how accurate these data are, because although 2.2 million BTC does not seem too much compared to almost 19.5 million BTC mined, it still shows that there are still those who do not understand the need for non-custodial wallets. However, I would dare to say that this number is even lower, because we all know that CEX always manipulates numbers in order to show liquidity, so it is a similar story as in the case when speculating about how much BTC is actually irreversible or currently lost.

What is certain is that the number of BTC that are on CEX is decreasing over the years, which is really good news and I hope that it is not only related to the fact that we are still in a bear market.
1458  Bitcoin / Legal / Re: Accelerated U.S. Bitcoin ETF Adoption on: August 25, 2023, 10:25:53 AM
~snip~
Everyone has an interesting question: Why is a futures ETF that is more risky allowed, but a spot ETF with less risk is not allowed? 🤡

I do not think that the futures BTC ETF is more risky than the spot ETF, because with the former, the risk is lower in that the fund does not contain actual BTC, that is, the fund does not buy BTC in order to issue shares in the fund based on it, which is the case with the spot ETF. The spot ETF has additional risk because it is exposed to the risk of buying and storing BTC, although the SEC probably has some other reasons for taking such a negative view.

In addition, if we go into conspiracy theories a little, then we could conclude that the SEC wants to approve the first such ETF to someone who is still much closer to the government than to any other company. From this we can draw the conclusion that the most likely candidate to receive approval is BlackRock.
1459  Bitcoin / Press / Re: [2023-08-22] Bitcoin Mining Startup Raises $13 Million to Turn Trash Into BTC on: August 25, 2023, 10:08:21 AM
~snip~
Now burning methane gas to produce electricity, might not be the most environment friendly option, but it is released into the air in any way.. so why should we not use it?

Perhaps because we should not give additional arguments to those who use it to portray Bitcoin as one of the great threats to our environment, no matter how meaningless it is if we take into account the facts from all relevant research. Those who mine BTC of course do it for profit, but I believe that they should always strive to use clean and renewable energy sources, although even these energy sources are not something that does not leave an impact on the environment.

The less oil, methane, coal and similar fuels associated with Bitcoin, the better for all of us in the long run.
1460  Other / Meta / Re: Request: Disable merits in the Wall Observer thread on: August 25, 2023, 09:56:38 AM
I voted NO for the reason that I think there are other ways that could solve that "problem" without going to a complete ban on merits in that thread. I personally like how the rules are set in Serious discussion, which means that you only need to limit which ranks can participate in that thread, and if that rule were set to Senior + rank in WO, I believe that such discussions would not be necessary.



For myself I have some out the forum occupancy and there fore I always empty my source on Good forum user as I know they will resend on quality posts… and Theymos said send merits are better than merits not send.

For those of us who are not merit sources and are not very popular on the forum, such a source of merits really means a lot, because be sure that every sMerits I received from you and other members of WO ends up as a reward for what I consider a useful and quality posts.
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