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1441  Bitcoin / Bitcoin Discussion / Re: what is the solution to traffic congestion on the bitcoin network? on: May 18, 2023, 02:51:46 PM
Aside from off-chain solutions, I really think a reasonable solution is to simply wait. If a person needs to send a lot of money, the fees won't seem that high. If it's a smaller thing, there's a good chance it can wait for some time when the fees improve. I waited out the high fee period and made my first transaction a couple of days ago, paying aroung $5 worth of BTC. It's not ideal, but not very high either.
Also, many people use Bitcoin as an investment rather than a currency, which in that case doesn't need to be regularly moved from one address to another.
1442  Economy / Games and rounds / Re: Sportsbet.io 🥊 Devin Haney vs. Vasiliy Lomachenko 🥊 (Saturday, 20 May) on: May 17, 2023, 03:10:25 PM
1.  Loma
2.  Round 11
3.  2
1443  Economy / Economics / Re: Financial education or 1million dollars on: May 17, 2023, 02:56:40 PM
Financial education is something people usually want in order to earn a lot of money, and no financial education guarantees getting $1 million. However, the argument about losing the money without the education is also relevant. If I got to choose, I'd choose the latter, but only because I feel like I'm financially educated enough to start managing the money and because I can self-educate once I get the money.
And the money is absolutely life-changing, even though being rich isn't among my life goals. It's truly enough for many things in life.
1444  Bitcoin / Bitcoin Discussion / Re: A new milestone: 1M addresses hold 1 Bitcoin on: May 17, 2023, 02:40:14 PM
That sounds like a nice achievement in distribution of coins, and I hope we'll see even better distribution in the future. The op acknowledged that some addresses can hold funds of many people and some people can have several wallets, and with that, I still think it's largely not pointless info.
As for the past few weeks and the fees, I think it's really great that Bitcoin bounced back pretty fast, and while the fees are still not low, they are reasonable and can be expected to fall even more. It's been two years since the last fee spike, and that one was way worse. I'm okay with such occasional situations, and grateful that they are rare and temporary.
1445  Bitcoin / Bitcoin Discussion / Re: New article published on the history of this forum on: May 17, 2023, 02:07:11 PM
The forum largely describes events I didn't know about earlier, so it was informative, but it also seems that it's not really the history of the forum, as much as it is about hacks and financial discussions related to donations (and how they were used). To me, these are not the most important aspects. The article doesn't talk about the life of the forum, prominent members, popular topics, features that were added at certain points in time (like the merit system), signature campaigns etc.
As for the author, I tried finding the info on the website, but couldn't find anything.
1446  Bitcoin / Bitcoin Discussion / Re: Some people started their BTC journey when things were more hopeless on: May 17, 2023, 09:48:50 AM
I'm sorry your father passed away, and it's so nice that he was supportive of your Bitcoin investment and endurance through the hard times of the bear market. Experts make mistakes, and it's really hard to predict how well a starting industry would do in the future. Online gambling is clearly big, and so is Bitcoin. The price isn't as good as in 2016, of course, but still pretty good. That being said, I think that people who have fear over Bitcoin and doubts about its potential should not invest in it because investments should be made based on personal decisions, given that the responsibility and financial risk are personal as well.
1447  Bitcoin / Bitcoin Discussion / Re: Bitcoin IS an asset. Do you think it's bad? on: May 16, 2023, 03:31:49 PM
I don't think Bitcoin will ever fully stabilize, but it doesn't mean it can't function as money, and it also doesn't mean it can't be both an asset and a form of money. I didn't come to Bitcoin because of potential gains or the positive hype. I came more out of curiosity for some new type of money that's fully digital and independent. I do believe Bitcoin will continue slowly growing over time, but I'd also gladly have it if it instead somehow froze in value, and we knew it won't ever go up again. But that's not the case, and of course many are drawn to Bitcoin because of it being a good asset.
1448  Bitcoin / Bitcoin Discussion / Re: The World's First Kids Cartoon about Bitcoin on: May 16, 2023, 03:18:27 PM
19k views, not bad at all. I haven't heard of the channel before, but their mission of educating kids seems nice, and the animation style reminds me of typical TV shows for kids. I can see how preschool kids or elementary school kids would watch it, I've seen much worse plot development and dialogues on TV channels for kids.
Honestly, I didn't expect to like a kid's show, my expectations were pretty low. And, to be honest, it was a bit too long for me, even though I've watched the whole episode. But it has many references, small jokes, and small lessons as well. Like how the kids say they won't ask about Satoshi's identity, which sort of shows you should respect one's privacy and desire to stay anonymous. It also teaches the history of money nicely, although I'm not sure small kids would understand it well. And there's a caution against wanting to get rich quick with it.
It's a wonderful effort to explain Bitcoin to kids, and I'm really happy stuff like this exists.
1449  Bitcoin / Bitcoin Discussion / Re: A Bitcoiner's Expression of Love and Gratitude to Satoshi Nakamoto on: May 16, 2023, 02:39:19 PM
I like the image you've made. To me, it's sort of a mix of the Statue of Liberty and Themis (the goddess of justice). The latter comes to mind because her eyes seem closed, and closed eyes symbolize impartiality of justice. Just as liberty is relevant because of the financial freedom that Bitcoin provides, justice with closed eyes is relevant because Bitcoin is pseudonymous and decentralized, and as a result people can use it without fearing biased treatment.
I also agree with the op's sentiment that Satoshi's identity isn't important, and we should focus on the gift of Bitcoin instead.
1450  Bitcoin / Bitcoin Discussion / Re: Willing my bitcoin to my children on: May 16, 2023, 02:04:02 PM
Whether Bitcoin technically counts as property and is thus technically inherited by children depends on the jurisdiction, but it's not of any use if nobody has access to anything allowing to open the wallet.
People say the op should teach the kids about Bitcoin, but we don't know the age of the children (unless 'three' is referring to their age), so it just might not be possible to teach them yet. But the desire is admirable, and I hope the op will find a way that works best for their family in terms of how to arrange the inheritance.
1451  Economy / Games and rounds / Re: Sportsbet.io - UFC Fight Night 224 - Multi Master Challenge - (Saturday) on: May 16, 2023, 01:47:41 PM
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NOT go the Full Distance 5
1452  Economy / Economics / Re: South Africa in trouble. on: May 14, 2023, 02:17:47 PM
I think the USA rarely make empty accusations, but an Ambassador may express something that doesn't reflect the official US position. South Africa is denying sending weapons, but they would deny it regardless of whether it's true or not, just as Iran is obviously sending a lot to Russia but officially denies its involvement. The South African situation will probably have a follow-up with either a clarification from the US government or perhaps we'll see some weapons on the battlefield in Ukraine that will prove their involvement. If they support Russia, they should suffer from sanction, but if they don't, I don't think sanctions will be imposed.
1453  Economy / Trading Discussion / Re: Can copy trading be profitable on: May 14, 2023, 01:51:26 PM
I read about copy trading to understand it better and to see what research is available about it. It seems to be an okay method, but it increases the risk-taking among people because they tend to trust those whose trades they copy. But nobody can guarantee any profits, and 1% per day adds up to quite a lot per month, so I wouldn't say it's an easy and reasonable expectation. Apart from wins, there can also be losses, and consistent winning is the hard part, even if it's copying someone who is supposedly good at this. I don't think it's real, and the risk outweighs the potential benefits for me.
1454  Economy / Economics / Re: 199,983 companies went bankrupt in Europe because of the energy crisis in 2022 on: May 14, 2023, 09:26:55 AM
I'm grateful to stompix for clarifying the situation and providing the context. If it's just a 0.2% increase and actually fewer bankruptcies than in some of the previous years, all seems good to me. Of course, 2022 wasn't easy, but I really don't think that sponsoring a terrorist state to get more electricity (which is also not environmentally friendly) is a reasonable solution. I'm glad that the situation isn't as bad as it may have initially seemed, and I don't see why 2023 wouldn't be an improvement over 2022 either.
1455  Economy / Economics / Re: Bravo: Ron DeSantis bans CBDCs on: May 14, 2023, 09:05:15 AM
I strongly disagree with the political beliefs of Ron DeSantis, as he's notorious for various conservative policies and statements that I believe are not making the world better. He's anti-abortion, pro-gun, anti-LGBT, anti-immigration, and the list goes on and on. But Republicans are against the bigger control of the state over the population, so being against CBDCs makes sense here, and that's a valid concern that I think the Republicans point out correctly.
I'm personally not against CBDCs, though, as long as using them is totally optional and as long as they aren't allowed when decentralized cryptos don't have the same privileges.
1456  Bitcoin / Bitcoin Discussion / Re: You are still very early on: May 14, 2023, 08:11:33 AM
I don't understand the first point, to be honest. Is it that most BTC has already been mined, that the total supply is too low, or that it is too high? In all of the cases, I don't think it's a valid argument against investing in Bitcoin, but still. As for #2, it can be an argument against starting mining now without having major resources, but not against just buying some BTC. And #3 is worth keeping in mind, of course, but not entirely accurate. It's unlikely that Bitcoin will go 20x very fast, as it did in 2017. But it can go 3x-5x, I think, and these are also pretty good gains. Maybe it can even go 20x from the current price, but it'll just take more time, several bull runs and several-year bear breaks in between.
Bitcoin is still a good investment, it still has a lot of potential to spread much further. So I do agree with the op that we're still in the early days.
1457  Bitcoin / Bitcoin Discussion / Re: My experience with memorizing seed phrases on: May 14, 2023, 08:01:32 AM
I suppose it depends on one's memory and dedication. My short-term memory is pretty good and accurate, but that's just for some very temporary things. Seeds require using long-term memory, obviously, and I'm not good at particular details over the years. I know the gist very well, I remember a lot of things from my area of research in general, even if I haven't done anything with it for a few years. But I can't remember exact phrases, it's just hard for me to keep such details in mind. I don't trust my memory with this, and I know it will bother me like an additional thing I have to worry about and dedicate time to. So I agree memory isn't reliable, and I think that since I surely won't trust myself to keep the seed phrase in my memory only, I don't want to bother with working on such a backup.
1458  Economy / Economics / Re: The Role of Education in Financial Literacy on: May 13, 2023, 07:50:05 AM
I believe in the power of education because it can act as a preventive measure to make the experience less risky, more enjoyable. However, education can come from very different places. I wish we had a good financial literacy course at school or at least at the university, but both failed me significantly because we didn't study Economics at school (we were only supposed to hand in a business plan at the end of the year without having classes about anything) and our Economics professor at the university was an old Marxist guy who focused on class struggle and the lack of redistribution every single lesson. Most of what I understand about the economy came from reading other things on other courses later and from Bitcointalk, actually. Well, not just the forum threads, but also reading additional stuff to understand the topics discussed on the forum over the years.
1459  Economy / Economics / Re: Dedollarisation fails before starting, Russia and India halt rupee trade on: May 13, 2023, 07:40:49 AM
I didn't take the dedollarisation seriously in the first place, so I'm not surprised it's failing, but I thank op for sharing news on how it's going. The only currency that has some chance of growing is perhaps the Chinese Yuan, but even that won't be enough because it can work for regional trade at best, and even there only if all the others agree to use it instead of pushing their local fiats (which isn't likely because while China is a bigger friend than Western countries, it's also already a very strong power in that region which others probably don't want to become even stronger).
1460  Bitcoin / Bitcoin Discussion / Re: Don't follow the trends, work with price actions on: May 13, 2023, 07:19:40 AM
Following market trends will only result in FUD, FOMO, and other critical barriers. The essential element is price action; bitcoin works mostly with price action. For instance, two years ago, bitcoin was valued at $49,151, and pro traders anticipated bitcoin would reach $100,000, but their predictions were dashed when the market stumbled. The market is designed in such a way that if certain procedures are not followed, it will drain one's trading account. Bitcoin has been around for several decades, and we all understand how important the project is. Most traders predicted that trading bitcoin would completely disrupt the market. Do you believe that price action is more essential than trends?
Saying that Bitcoin has been around for decades is a huge stretch because it hasn't even been around for two decades yet. As for the market having any sort of design, that's also not true: the market merely represents demand and supply, and it is volatile, but no procedures can be followed to make it more stable. Also, Bitcoin did disrupt the trading market, rising in a matter of less than two decades from less than a dollar per coin to dozens of thousands of dollars per coin.
Finally, as price action "generally refers to the changes of a security's price over time", it's worth noting that Bitcoin is clearly moving up over the years, albeit with temporary setbacks along the way.
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