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1481  Bitcoin / Development & Technical Discussion / Re: Why was Ordinal NFTs created? on: April 26, 2023, 10:15:37 AM

Probably another thing, but what's going to happen and what's not going to happen is not for you and me to decide, it's the market, and probably we can agree that the market doesn't care about the marketcap. It will take Bitcoin where it wants to take it. If it goes to a seven digit price valuation, OK. If not, OK.

 Cool


so if bitcoin just stays under $100,000 forever that's ok too? what if the us dollar devalues alot and bitcoin still stays the same? that's ok too?


OK from the perspective that the network will go on whatever the price.

If the Dollar devalues, Bitcoin surges in Dollar units.

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I don't know, I neither thought nore suggested that Ordinals is going to drive it to new valuations. Let's wait for the next halving.

apparently bitcoin is supposed to go up in price at each halving.


Theoretically it's supposed to, but practically it also depends on demand.

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"Satoshi"? Are you talking about the person who demanded that the Core Developers write code to recover his lost coins? That "Satoshi"?

never heard of that satoshi. that sounds unreasonable of a demand though. but recirculating old coins that haven't been used in 250 years does seem kind of reasonable. at least to me.  Shocked


I believe Craig Wright had the same proposal. For me it's laughable and very stupid.

OK, we're off-topic now. This post will be my last reply on that matter.
1482  Economy / Economics / Re: John Oliver - carving the old wounds of Crypto - Calls it Fiasco! on: April 26, 2023, 07:55:47 AM
Let's not forget that John Oliver are a comedian and a actor.... so their main goal is to find content that are controversial. Bitcoin and Crypto currencies are one of those topics that can be exploited to push a lot of buttons and get the most reaction from viewers.

These people thrive when they can pick people and technologies apart for their own gain. So yes, Bitcoin and Crypto currencies are a easy target for them and there are a lot of scams and shitcoins that are giving them a lot of content.  Roll Eyes


 Roll Eyes then why are we posting on the topic like we should take him serously? The topic should be locked in my opinion, or moved somewhere. He's neither an economist nor a scholar with a background in finance. I should have done a little research about him.

He might merely be a politico-economic propagandist for-hire trying to influence you/spreading FUD, but without looking like he's trying to spread FUD.
1483  Economy / Speculation / Re: Buy the DIP, and HODL! on: April 26, 2023, 05:46:48 AM
There's another significant DIP that's probably coming soon. Although the probability might be low, the pattern almost follows the same one that happened during 2019. How significant the DIP will actually be will be answered in a few months by the market. DCA, Buy the DIP - pick your weapon, both strategies are acceptable for the long term HODL.
I realized about the pattern you are talking about especially after I analyzed the charts and compared it between the previous halves and the next halves. I am under the impression that a similar pattern is possible, but it will most likely be broken if a red candle finally forms in April. I analyzed monthly TF, but I have doubts about deeper dip between May to July. If indeed a correction is still very likely, I don't think $20k will break.


I have my reservations. Look at the pattern between January 15 and March 10, then compare it with the pattern between March 18 and today. I believe we might find Bitcoin drop below $25,000 again for a short amount of time before a strong surge above $30,000. But it's merely a guess, just DCA + Buy the DIP bigger on significant price corrections.
1484  Economy / Economics / Re: John Oliver - carving the old wounds of Crypto - Calls it Fiasco! on: April 26, 2023, 05:31:28 AM
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Oliver has given three worst failures of the crypto time which include: 1) Terra Fall, 2) Celsius, and 3) FTX collapse.


The expected failures of those Ponzi Schemes do not represent crypto, just like the failures of the biggest fiat Ponzi Schemes in history before crypto do not represent the banking system.

List, https://en.wikipedia.org/wiki/List_of_Ponzi_schemes
1485  Economy / Economics / Re: SVB Analysis Shows More Than 186 US Banks Might Still Collapse on: April 25, 2023, 01:17:40 PM
Meanwhile, First Republic Bank (FRC) seems to be dead too. The fall of its shares is close to catastrophic today.
A month has passed and the passions around the banks have subsided a little, but the problems have not gone away. The high key rate and hints of its further growth make the outflow of deposits from banks increasing and it is not clear how this can be fixed. An interesting article in Bloomberg about this.


It's the reporting of earnings week in the United States, and First Republic Bank reported that they saw $100 billion in deposits fall this year. Other banks might have the same reports. I believe we might see another drama from the legacy financial sector soon. Plus if the Federal Reserve hasn't cut rates yet, it definitely shows that they are not anticipating something to break. It's when Jerome Powell starts cutting rates that he's desperate to pump more liquidity into the system because something is about to break. BUT it will always be too late.

Yep. In the context of a high key rate, rather high interest income on short-term US Treasury bonds and amid high inflation, there is absolutely no reasonable reason to keep your money on deposits at a symbolic interest rate (usually 0.1%), at least an amount exceeding deposit insurance limit. Therefore, the outflow of funds from bank deposits will continue and I do not see how this trend can be changed.


But where does all the money go besides Bonds? Stocks are risky at current valuations, plus it might also crash soon because of the Federal Reserve's over-tightening, which could start a deflationary cycle. Bitcoin? Probably good for a small percentage of your total networth. Gold? China, Russia and other Central Banks around the world are accumulating Gold because the World Powers are probably going to war.
1486  Economy / Economics / Re: SVB Analysis Shows More Than 186 US Banks Might Still Collapse on: April 25, 2023, 08:51:05 AM
Meanwhile, First Republic Bank (FRC) seems to be dead too. The fall of its shares is close to catastrophic today.
A month has passed and the passions around the banks have subsided a little, but the problems have not gone away. The high key rate and hints of its further growth make the outflow of deposits from banks increasing and it is not clear how this can be fixed. An interesting article in Bloomberg about this.


It's the reporting of earnings week in the United States, and First Republic Bank reported that they saw $100 billion in deposits fall this year. Other banks might have the same reports. I believe we might see another drama from the legacy financial sector soon. Plus if the Federal Reserve hasn't cut rates yet, it definitely shows that they are not anticipating something to break. It's when Jerome Powell starts cutting rates that he's desperate to pump more liquidity into the system because something is about to break. BUT it will always be too late.
1487  Economy / Speculation / Re: Buy the DIP, and HODL! on: April 25, 2023, 08:36:36 AM
To all who like to Buy the DIP, and DCA. There's another Golden Opportunity coming, although it might not be as golden as low prices of November, but a good opportunity nonetheless.
 Cool
ARE YOU READY?

Yes, it is an opportunity though not so attractive as it was in November-22, with the price having dropped more than $3000 during the last week and currently trading at around $27,700. It appears as market may continue to experience sideways movement, and Bitcoin price may remain within a relatively low range for sometime until a break-up or break-downs occurs which usually happens after a period of sideways movement. Every significant dip should be considered an opportunity to accumulate Bitcoins for long term holding.


There's another significant DIP that's probably coming soon. Although the probability might be low, the pattern almost follows the same one that happened during 2019. How significant the DIP will actually be will be answered in a few months by the market. DCA, Buy the DIP - pick your weapon, both strategies are acceptable for the long term HODL.
1488  Bitcoin / Development & Technical Discussion / Re: Why was Ordinal NFTs created? on: April 25, 2023, 08:23:37 AM
Probably, but if Bitcoin surges to a six digit price during the next bull cycle, which is very possible in my opinion,
then wait for the possibilty of a seven digit price narrative to arise.

it's one thing for btc marketcap to go from half a trillion dollars to 4 times that. but another thing entirely go to 40 times that. do we really think that's going to happen?


Probably another thing, but what's going to happen and what's not going to happen is not for you and me to decide, it's the market, and probably we can agree that the market doesn't care about the marketcap. It will take Bitcoin where it wants to take it. If it goes to a seven digit price valuation, OK. If not, OK.

 Cool

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It just starts as a narrative, then as a possibility, then a?

 Cool
ordinals is not going to drive that. so what's going to drive it? you would need 1000 projects like ordinals to get you up to $1,000,000 maybe more.


I don't know, I neither thought nore suggested that Ordinals is going to drive it to new valuations. Let's wait for the next halving.

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I'll pretend I didn't see that part of your post.
ok. don't tell satoshi either.  Shocked


"Satoshi"? Are you talking about the person who demanded that the Core Developers write code to recover his lost coins? That "Satoshi"?
1489  Bitcoin / Hardware wallets / Re: Recommendations to store my seed phrase!! on: April 25, 2023, 06:58:22 AM
Never think of putting that on an online storage or spreadsheets or emails, just don't. You already have the ideas on how to keep it in the best way like having it on a safe vault and have it written on a piece of paper. Mine was written on a piece of paper and that paper came from the original Ledger's provided form. I have my storage like a small pouch or bag that's not too hot in the eyes of many people but it's kept inside where I can bring anytime and anywhere I can. Dog tags are good but don't make it obvious that it's a seed or recovery phrases, there are many people now that's starting to learn about private keys, seeds and recovery phrases.


I would suggest that you make a "cipher" for your seed words. It doesn't have to be very advanced, or complicated, but the important thing is you alone knows the code to decipher it. This is very very important especially if a large part of your savings are stored in Bitcoin. Many people might say I'm too paranoid, but if you're being your own bank, you need to be a little paranoid to protect your money.
1490  Bitcoin / Bitcoin Discussion / Re: Geeky crypto thief, 32, jailed for hiding $3billion in Bitcoin in popcorn tin on: April 24, 2023, 11:15:09 AM
Also, the guy got collectible coins, shout out for our physical bitcoin collectibles out there, i wonder if anyone made a transaction between him or he has an account here.

He does have an account here:

Loaded

What's funny is he used to pretend that he made all his Bitcoin from trading and running a trading fund for wealthy investors... Of course that was all a lie. Not that there wasn't some level of ingenuity involved in how he actually achieved his BTC wealth.

This thread is what made him famous, at least on the forum anyway. It wasn't too long after he posted this that people started figuring out where his BTC really came from.


It was very ingenious. He got all that Bitcoins by exploiting a Dark Market site called the Silk Road. The exploit was said to have allowed him to withdraw many times from the site's wallet without making any new deposits. The site admins can't go the government/police for help, neither can they announce that they were hacked.
1491  Economy / Speculation / Re: How is everyone doing? on: April 24, 2023, 10:56:12 AM
... users don't need to run a full node, right?

Correct!


"Correct" for BCash SV, but not for Bitcoin. I'm sorry ser. Two different networks, two different goals. Bitcoin is actually being built and developed for the science. BCash SV, I leave it to the community to decide. There will probably some people who'll get scammed into thinking it's "the real Bitcoin", but I hope it's not going to be the people from this forum.
1492  Economy / Economics / Re: Germany surprises everyone, the economy keeps growing on: April 24, 2023, 07:55:59 AM
That the countries of Europe without Russian gas and oil could freeze in the coming winter was propaganda by Russia, which sought to force the EU to lift or at least ease international sanctions in exchange for resuming supplies of its oil and gas. This blackmail and threats this time had no effect on the countries of Europe. Yes, long-running supply chains have broken down. But Europe is confidently overcoming this crisis and has already filled its storage facilities by more than 90 percent without Russian energy carriers. By the end of the year, Europe will completely abandon offshore supplies of Russian oil, and this will be a serious blow to the Russian economy. Russia is now losing on all fronts. The bet on force, blackmail and threats did not work this time. Hard times will come not in Europe, but in Russia.


It might all be propaganda, but to reduce their dependency on Russian Gas, Germany reacted by putting coal as their top source for energy production, which is stupid for their "green energy policy" because it's the dirtiest means of energy production. This stupidity started when their government started to approve shutting down their nuclear power plants and replacing them with unstable energy sources like solar and wind, while also importing Russian Gas that started the dependency. I believe all 17 of they're nuclear power plants are now not operating.
1493  Bitcoin / Development & Technical Discussion / Re: Why was Ordinal NFTs created? on: April 24, 2023, 07:39:05 AM

Don't speak that it's absolutely impossible. A person from 2012 would also say the same about Bitcoin surging to $10,000.

bitcoin going from $1 to $10,000 is not the same thing as going from $10,000 to $1,000,000. it's going to need alot of help to reach $1 million things like hyperinflation come to mind...gonna take more than just being useful for some purpose in my opinion.

you got fednow coming out soon and countries are jumping on the bandwagon to want to make their own digital currencies. bitcoin can't compete with that. (I mean in terms of the convenience and ease of use factor...why subsidize pictures of monkeys when you just want to transfer money electronically with little to no fee? ) plus you throw in government regulations and it makes it even harder for people to get involved in it in the first place. even if they wanted to. coinbase might not even be in the usa for alot longer.  

but yet somehow bitcoin is going to go to $1,000,000. americans might not be able to buy it but somehow it will be worth that much. go figure. Shocked


Probably, but if Bitcoin surges to a six digit price during the next bull cycle, which is very possible in my opinion, then wait for the possibilty of a seven digit price narrative to arise. It just starts as a narrative, then as a possibility, then a?

 Cool

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Did it say about zero coins lost? No, check the code.
maybe that's one of the things about the code that need to be reconsidered. Lips sealed


 Roll Eyes

I'll pretend I didn't see that part of your post.
1494  Economy / Trading Discussion / Re: What are your most effective crypto trading strategies? on: April 22, 2023, 01:53:28 PM
Cryptocurrency trading can be both exciting and daunting at the same time, especially for those who are just starting out. There are several trading strategies that traders use to buy and sell cryptocurrencies, manage risk, and maximize profits. In this discussion, let's share our most effective crypto trading strategies and learn from each other.

Questions to consider:

1: What trading strategies have worked for you in the past?


I tried trading shitcoins, it didn't work for me. I buy Bitcoin and HODL. A pleb like me with small capital should keep it simple.

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2: How do you manage risk when trading cryptocurrencies?


During 2019, most of my savings went to Bitcoin. It was high risk during that time.

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3: What are some indicators or tools that you use to inform your trading decisions?


Nothing. I read, and learned more about Bitcoin.

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4: How do you deal with market volatility and sudden price swings?


I don't. Everything is in cold storage, although I sometimes feel the stress.

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5: How do you set your buy and sell orders?


Buy the DIP and HODL, and there's another one that might be coming. PREPARE!

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6: What advice do you have for new traders who are just starting out?


Keep it simple, and don't diversify. Plebs like us shouldn't trade like the whales with billions in capital. Buy one coin, preferably Bitcoin and HODL! Or probably concentrate on just two or three coins, but never "diversify". You're not a billionaire.
1495  Bitcoin / Development & Technical Discussion / Re: Why was Ordinal NFTs created? on: April 22, 2023, 01:37:27 PM
well if btc is 30k a 6.25 block with 0.15 rewards = 6.4 coins or 192k these numbers do work

it is likely the .15 in rewards is up due to Ordinals and Nfts.


If btc is 60k a 3.125 block with 0.075 in rewards = 3.2 coins or 192k these numbers work

and I dropped out 0.075 in rewards with the assumption that ordinals and nfts reduce due to lack of demand this will hopefully be all true in 2024

So we could be okay for a few more jumps. Without nfts or ordinals


But 2028 120k a 1.56125 block with 0.075 in rewards.

yeah, i dont think anyone really has a good answer for this problem but it does seem to limit bitcoin's upside potential in usd value. bitcoin can't just shoot up higher and higher just because miners want to offset their dwindling block reward.  Shocked


That's true, but since when did Bitcoin surge because miners simply wanted to offset their rewards that are halved every four years? The price is what the market - buyers and sellers - makes.

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problems start showing. the 20 mill x 120k = 2.4 trillion value and for the numbers to be okay

difficulty needs 50% growth and efficiency should go from 29 watts to 20 watts per th.

The value of your protection will have went up a bit but price of coins is 4x/

It just get wonky when you project into the future.
imagine 1btc is worth $1M usd. maybe miners would be happy then if they could scrape out a .0001 block reward but it's not going to $1M...not unless the usd experiences hyperinflation but that wouldn't help anyone either.


Don't speak that it's absolutely impossible. A person from 2012 would also say the same about Bitcoin surging to $10,000.

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Quote from: Wind_FURY
But from the standpoint of the protocol, it must be preserved. 21,000,000 coins mined

and zero coins lost. how's that? Smiley


Did it say about zero coins lost? No, check the code.
1496  Economy / Speculation / Re: Buy the DIP, and HODL! on: April 22, 2023, 10:29:04 AM
To all who like to Buy the DIP, and DCA. There's another Golden Opportunity coming, although it might not be as golden as low prices of November, but a good opportunity nonetheless.

 Cool

ARE YOU READY?
1497  Economy / Economics / Re: Does People Really Care About Decentralization? on: April 22, 2023, 10:12:38 AM
What are your thoughts on it, like if we really want to remain anonymous and want to get more control of the internet by leveraging Web3 then why we are riding on the boat of Web2? Why are we still sticking to centralized platform?
Not totally suprising when it comes to the masses would go along on whats the current trending or where do most people do go, doesnt mind if they wouldnt really be that anonymous or something that do talks about decentralization or other stuff. Its not shocking that people would go along into those traditional things, as long they arent doing something bad then they wouldnt mind if their information would really be known and exposed.

One thing here is about on social media on which most of their life happenings and events are even posted which we know that this is really a security risks on where letting the public see on whats happening into your life but since we are on a digital era then it turns out to be that so casual.


I believe when each region of the world has implemented, and deployed their systems for CBDC, more and more people will learn, THE HARD WAY, that there is a place for a decentralized cryptocurrency in their lives as a back up. It will be an issue among ALL the masses, and then I'm very confident that Bitcoin will be something of high valuable that what it is today. It will not be a "Criminal Coin" but a "Freedom Coin".
1498  Other / Archival / Re: WasabiWallet.io | Open-source, non-custodial Bitcoin Wallet for desktop on: April 21, 2023, 03:33:14 PM

Is it something with Samourai again?

Of course, but it actually doesn't matter who it is. Doxxing anyone simply because they disagree with you is utterly scumbag behavior.


I was just asking because Wasabi and Samourai have been in a back and forth, name-calling, and mud-slinging "affair" for maybe more than two years. Hahaha.

Wasabi developers vs. Samourai developers boxing match in Miami Bitcoin 2023, like Loomdart vs. RookieXBT in Dubai?

 Cool
1499  Bitcoin / Bitcoin Discussion / Re: On Ordinals: Where do you stand? on: April 21, 2023, 03:20:16 PM
Using of a blockchain for gaming would be a stupid way to use it, just like dick pics and fart sounds in the Bitcoin blockchain. Nothing of those truly need censorship-resistance.

In most cases that's true.  However, Doom's predecessor, Wolfenstein 3D, was banned in Germany for a fairly significant length of time (for obvious reasons).  So there may be some fringe cases where censorship resistance could be a legitimate need.  But a blockchain remains an incredibly inefficient way to do it.  Particularly when filesharing technology has come such a long way and is purpose-built for that task.


I'm talking about specifically the Bitcoin blockchain because it would be so inefficient. BitTorrent is a better network for that, the user can just download the files, then run the software locally.

When speaking of censorship-resistance, I believe it should solve something and make things more efficient, like for instance ransomware. Everyone sees it as something nefarious, but what Bitcoin actually did is it made a market out of insecure software, therefore making software builders release security updates/patches more often. There was a gap, a need, there that Bitcoin filled.
1500  Economy / Economics / Re: Does People Really Care About Decentralization? on: April 21, 2023, 11:46:07 AM
Actually when looking at it as a whole for myself personally, I care quite a lot about decentralization but not all that is done must always be decentralized because in other cases I also still need a centralized system.
Actually it depends on which perspective we see, I think as long as it is centralized it is still better from one aspect then it can be done but on the other hand from another perspective when decentralization is better then the choice means there. I'm not going to be naive about this because as long as I still have an advantage for myself in both then I'll use it because indeed we live, of course we have to find the easiest way to deal with it.

For some, this is a matter of habit, for some it is convenience, but if you remove one thing now, then many will lose their usual comfort. It seems to me that people are not very worried about decentralization, because it is important for them to shift their responsibility to someone else, let banks be responsible for their money, the state is responsible for their pension, this is convenient because you can always find the culprit if something goes wrong. And this is not their fault, they were just taught like that from childhood, and it seems convenient to them.


Is it really a matter of habit, truly just a matter of need or what they think they do/don't need? I believe it's more about the need/what they think they need. Ask an ordinary person, let's pretend the person has an idea, if he/she needs decentralization, and I'm very confident the answer from more than 80% of them would be "NO". Which true in my opinion. Decentralization doesn't have to be everywhere in our lives, although we truly need a decentralized, permissionless, censorship-resistant cryptocurrency as a fall-back in case our current financial system fails.
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