Bitcoin Forum
May 23, 2024, 05:50:54 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: « 1 ... 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 [79] 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 ... 742 »
1561  Economy / Scam Accusations / Re: Idmining.com is hellish scammer on: July 18, 2023, 05:05:31 PM
It is a crazy world where this site is still active and scammers are stealing money from new people.

Why are so surprised?
Did you file a complaint against the website operators for fraud with your local police or cybercrime?
Did you contact their hosting provider or domain name registrar and tell them how you've got scammed by that website?

Until a few do so nobody will take action since the one who can do something can't act on their own or don't know about it at all!
1562  Other / Meta / Re: The problems newbies face on: July 18, 2023, 04:20:09 PM
Normally newbies who just join this forum

Yeah, bs!
Normal newbies are not opening topics left and right telling others about crypto trading, crypto security, advantages of blockchain and stuff like that.
Normal newbies don't open topics with the opening post in almost perfect English and then suddenly revert to posting unreadable gibberish that makes no sense in other topics.
Normal newbies do reply to the comments on the topics they've opened, they don't just throw the bait and wait for a merit fish!

The whole thing is getting ridiculous, the forum is bombarded with topics opened by accounts that have spent barely anytime here teaching others everything, from personal motivation to how to succeed in agriculture, how to live a fulfilling life, how to secure your wealth, how to deal with family issues, the only thing I haven't yet seen is drug addiction advices.

gaining merit .

That's the real problem, right?

Also, newbie...right! Newbie! Roll Eyes
1563  Economy / Speculation / Re: $31450 proves too strong for Buyers, but Sellers may only dominate below $29400 on: July 18, 2023, 03:55:55 PM
I guess you read the post in a hurry, I proofread my posts many times before posting them.
Regardless, your query has been addressed earlier above the place you picked it, that's for those who read it from the beginning since there are ATHs of the same year before and after the one I referred to, which was why I used "before the subsequent ones" as seen in my quote below.

It doesn't matter how many times you proofread them, if the idea is faulty it is what it is.
The ATH was already broken, even if you mentioned it so why would the previous ATH still matter in this whole thing, if you take it as an example of how the price reacts after it then simply go one further ATH back and see that is doesn't resemble this cycle at all, so what's the point fixating on it when it's no longer the ATH, there is no resemblance to the previous situation where we had two consecutive ATH broken, sooo ...they are just random lines that currently don't mean a thing as you can see from the price!

Your words:

Quote
These two lines are the $31450 (the year's ATH established in June) and the $29400 (where the correction of June's bullish run ended). By principle, both levels have constituted strong barriers that need to be broken before a trend could be established.

Since the lines were broken once, why didn't this "trend" manifest already? Besides, the whole thign is silly, if it goes below or above a few liens it will either go up or down from there, I swear even Nostradamus was more precise with his predictions.

Meanwhile, buyers and sellers could still be dragging the trend within the wider scope of the trend depending on the term you are looking at (short/long).

So if it goes up or down from those lines the price might go up or down and in case it doesn't cross the lines the price will keep between those levels, right, unless it will go above or below one! Now you see the problem with your "prediction?
 
1564  Economy / Speculation / Re: $31450 proves too strong for Buyers, but Sellers may only dominate below $29400 on: July 18, 2023, 11:29:23 AM
On a closer look at the market today, this might continue, but two important levels could change the narrative in support of either the buyers or the sellers. These two lines are the $31450 (the year's ATH established in June) and the $29400 (where the correction of June's bullish run ended). By principle, both levels have constituted strong barriers that need to be broken before a trend could be established.

Even your graph clearly shows that's not the annual ATH, the current one happened on the 15th at 31665 (average) and 31656 right there on the image you used! So the trend is already broken!

Quote
However, more attention is on the $31450 as buyers seem to be gaining more traction compared to the lower level of $29400 which has not been threatened since the last day in June. Regardless, more sellers seem to be piling up around $31450, which could only explain why the market has not had a single close above the level in the last 24 days despite all the attempts of the buyers and some positive news.

Those two things contradict themselves, you can't have both of them increasing their presence compared to the other one.

A similar situation has been seen many times in the past, and as if it were yesterday I remember 2015 and how the price was stuck between $200 and $250 and everyone was waiting for something to happen since it was also the year that preceded halving. If memory serves me well by the end of the year (2015), the price reached about $1000 and few were optimistic enough to predict what followed.

You don't have to go that far, the same thing happened at the end of last year, we were stuck in the same pattern only for something completely unpredictable to happen, nothing to do with price levels or barrier or ATH, one solid pump in 3 continuous days and we were  up 25%, the only thing I learned about Bitcoin price prediction is that the more lines and arrows you try to put on a chart more effort the ghost of Satoshi will put into making sure the price avoids all your lines and fancy drawings.
1565  Bitcoin / Bitcoin Discussion / Re: Beginners, you don't need Bitcoin first on: July 18, 2023, 09:37:47 AM
You don't need Bitcoin first, What you need is a JOB, work on that first.

Yeah, nicely said, although one should add that bounty hunting is not a job!

I understand your point that bitcoin investment is solely for the financial buoyant people and it is true because of the volatility it possesses. But I wouldn’t say people without much Should stay away from it. They can simply use it as a trading method to buy things.

People who don't have the capital to start over again if they fail 10 trades in a row or are unfamiliar with trading at all should simply stay away from it! The whole investing and trading scheme is pretty simple, it's money moving around, when yours go away they are in somebody else's pocket, when you score it's the opposite. And most of this money flow comes from newbies and guys who think that just because they got lucky 5 times in a row with a shitcoin they can do so forever when it's just luck mistaken as knowledge!

Just like not everybody can fix a broken fridge not everybody can trade successfully!





1566  Other / Beginners & Help / Re: Flash BTC transactions on: July 18, 2023, 09:27:28 AM
After some hours, the post got banned  Shocked, no idea why  Huh.

Because it's a scam advertised by a group of scammers that constantly spam social media with their "solution".

The solution involves paying upfront 10 BTC for a plan in which you can send up to 100 BTC and get it back (lol) in 6 months.
Needless to say that it doesn't work and for sure you won't be able to get a refund from one of the lazyest scammers ever!

Quote
Because, although it may be only a scam, what would be some arguments for oppositely proving the impossibility of these Flash transactions?

Apart from the technical things everyone already mentioned, don't you find it interesting that we have no record of such a thing happening at all, and we should at least have one instance of it from the developers of this solution at least, when they've tested their method.
1567  Bitcoin / Bitcoin Discussion / Re: Why local currencies when there is bitcoin ? on: July 17, 2023, 11:46:11 PM
Local currencies are not fiat currencies either.

You mean they are not national currencies or legal tender currencies.
They are fiat currencies as they are issued by a centralized authority and they aren't backed by anything like gold or silver!

A friend was bragging to me about the merits of her local currency, but I wonder what's the point since we have bitcoin? Bitcoin which obviously includes the world population.

Because most of them as far as I browse around are pegged to the euro, you will not have to worry about the value going up and down every time :
https://pezh.bzh/
https://laracine-monnaie.fr/adh%C3%A9sions
and most important fees, the town hall, council whatever is taking care of the fees so those card transactions are cheaper than traditional ones, plus since it's a smaller closed circuit you're going to feel safer as it can't be used outside that area so it's like someone getting access to your north Korean bank account! Grin

1568  Bitcoin / Bitcoin Discussion / Re: Bitcoin dethronement on: July 17, 2023, 08:03:22 PM
Despite the XRP winning a legal case with the SEC and the price increased by either 21% doesn't really show full expression to say that bitcoin has been dethroned.

It's not about the price it's about the trade volume!

That aside, I don't know where that data really comes from, coin gecko shows a spike but still now enough

XRP
Quote
2023-07-15   $37,918,177,999   $5,758,002,015   $0.719679   $0.713256
2023-07-14   $42,784,396,921   $11,251,096,256   $0.812509   $0.719679
2023-07-13   $24,756,292,151   $613,551,700   $0.471376   $0.812509

vs BTC:

Quote
2023-07-15   $588,107,447,250   $21,977,151,421   $30,312   $30,298
2023-07-14   $610,725,509,599   $21,254,274,346   $31,446   $30,312
2023-07-13   $590,629,381,261   $13,072,555,444   $30,407   $31,446

Also, quite funny, if we speak trade volume alone, tether has been constantly surpassing bitcoin but yet nobody speaks about "dethronement", Ethereum has surpassed BTC quite a few times in trade volume over the years and we're still here with the same number 1.

1569  Bitcoin / Mining / Re: The cost of mining bitcoin from large miners on: July 17, 2023, 06:24:34 PM
That is a plus. a big one too. It forces the industry to go small. Those huge farms are not the best, just sending off Terawatts to a 250 km away destination has a drag, a loss which could power a small city most likely. 

Incorrect!
Sending electricity over high voltage lines has little loss, they are minimal over 765 and 500kV, what makes the oses are distribution issues and smaller lines, you lose more power between a transformer and your house 50 meters away than in 300 miles of high voltage lines., of course, percentage-wise.
And no, going small is not efficient at all.

Can turbine works in my case? I am guessing you meant wind turbine energy, I am from Nigeria and I heard Turbines are good in a windy area, what can you tell me about this?

I think he meant steam turbines because those are the only ones you can predictably turn on at a fixed hour when the sun goes down, wind although still predictable close to even 48 in advance wiht new er technology if it doesn't happen it doesn't, so you're stuck with no power.

It's why I haven't started mining Bitcoin with free energy yet because it takes lots of watts from the wall.

As long as it costs you even a penny to make it's no longer free. Solar panels, wind turbines and batteries cost money, thus making the produced electricity not free.
1570  Economy / Exchanges / Re: Binance adds support for the Lightning network on: July 17, 2023, 05:26:25 PM
If that's true, Binance would obviously try to make money from Lightning users. Which would be another Red Flag that fits seamlessly into the past weeks and months.

They are trying to "fix" it, the fees are all over the place for each user, some get $7, some 6 cents some $1.3.

But I can't still get over the fact that the damn f* are still putting their shitcoin clone on top and LN at the bottom, LN is below Ethereum erc20 when you select "Bitcoin", how in the name of god!
Sound like some PR shit to keep the impression fees are not one hundred cheaper than everything else.

I asked why deposits in the lightning network are restricted unlike other networks?

Chanel size restrictions and liquidity issues, Okcoin and Kraken have limits too.

I wonder if this is really theirs:
https://1ml.com/node/03a1f3afd646d77bdaf545cceaf079bab6057eae52c6319b63b5803d0989d6a72f

1571  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Help to rescue on: July 16, 2023, 03:07:36 PM
-  You know as long as your not selling it, even if you bought it at a high price in the market before, you will still get it back. How? the only thing you can really do to recover and still make money there is to hold and wait for the Bull run to return.

Yeah, majik!!!!
You just have to wait and you're going to make money no matter what shitcoins you hold
Majik!!!! Grin

Again, the way to save your money is to wait until the price of Polkadot/DOT returns to the purchase price.

What if that never happens and the shitcoin drops to half a cent per coin?

Taking profit now is useless since the price is already at the bottom while there's no guarantee too that the price will recover to your buying price.

Can you please let me know the brand and model of your crystal globe?

I love how easy it's for you guys to talk about the risks of losing all your money when it's somebody else's money, it oversimplifies things as much as it can! Just hold! I wonder why nobody is talking about him buying more and more!


1572  Bitcoin / Mining speculation / Re: 2023 Diff thread now opened. on: July 16, 2023, 01:15:15 PM
.....and we have liftoff!!!!!


And now we're having back to earth re-entry! Pace is just crazy, again some large family shutting down voluntarily?

Quote
Latest Block:   798934  (2 minutes ago)
Current Pace:   93.6802%  (599 / 639.41 expected, 40.41 behind)

And coming from another topic, I just saw that Binance is offering a presale on cloud mining plans
https://pool.binance.com/en/cloud
I can't find a way in which this shit would turn to be profitable compared to buying coins unless the US bans Bitcoin mining and the price stays the same despite that. Of course, I'm also pretty sure there are going to be a lot of customers for this, I don't doubt it a moment!

THERE IS A LOT OF MONEY out there in the world.

Yup, I can see that every day. What's 100 million for example?
https://www.prnewswire.com/news-releases/cleansparks-bitcoin-production-achieves-8-ehs-as-55m-expansion-goes-live-301876441.html

Quote
CleanSpark Inc. (Nasdaq: CLSK),  today announced that phase two of its mining campus in Washington, Georgia, is live. The site is expected to increase the Company's bitcoin mining compute power (or hashrate) by 1.8 exahashes per second (EH/s) to 8.5 EH/s, or over half of its 16 EH/s target for year-end. CleanSpark acquired the 36 MW campus along with existing infrastructure and machines for $25.1 million in August 2022, and has invested about $55 million on phase two – including construction, infrastructure, and machines – which is expected to increase the total power capacity to 86 MW. Including additional miners purchased and added to phase one, the total investment by the Company in the campus is over $100M and has already been fully funded.

Peanuts!

https://hut8.io/2023/06/26/hut-8-announces-us50-million-credit-facility/

Quote
Hut 8 Mining Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), one of North America’s largest, innovation-focused digital asset mining pioneers, and high performance computing infrastructure provider, announced today that, together with its subsidiary, Hut 8 Holdings Inc. (the “Borrower”), it has entered into a US$50 million credit facility (the “Credit Facility”) with Coinbase Credit, Inc., as lender.

Just 50 mils, peanuts!

1573  Other / Beginners & Help / Re: Any legit bitcoin mining apps? on: July 16, 2023, 12:51:55 PM
tho i found cloud mining by binance but i never try it by myself https://pool.binance.com/en/cloud

Quote
Mining Duration:
180 Days Start from $13.1580
(Min. 1TH/s)
Est. Mining Duration
2023-09-30 ~ 2024-03-27
Purchase Every 1 TH/s: Cost 13.1580 USD
Est. Output During Mining
0.00000227 BTC * 180 Days

So you pay $ 13 to get back 0.00000227 BTC * 180 which is 0.0004086 BTC in 180 days, valued right now at 12$.

You have two scenarios:
- the price goes up so the mined bitcoins are worth more, but it makes no sense, you could just buy them now
- difficulty drops by a ton so you would get more coins, but that's just as improbable and far more likely it's going to go up, making it even less profitable
1574  Economy / Economics / Re: China reopening was a flop, if we're heading to deflation, what about Bitcoin? on: July 16, 2023, 12:40:51 PM
They're however all referring to the popular Euro NCAP crash tests.

NCAP tests have become pure garbage.
The Chevrolet Aveo which is a tin can with wheels (we had them as fleet cars so I've seen quite a few of them crashed), scored 95 in passenger protection, Ford Ranger pick-up scored 84.
Now, assume you're a passenger in those cars and there is an X5 coming at you, would you trust those scores?
https://www.iihs.org/topics/vehicle-size-and-weight

After I saw the aftermath of an accident where a drunk moron with an S class split literary in two a mazda 3, trashed a pole, and stopped in a fence only for him to walk on his two legs while the emergency guys were still puzzled about how to collect what remained of the people inside the mazda, I don't care about their ratings one bit.

1575  Other / Beginners & Help / Re: Any legit bitcoin mining apps? on: July 15, 2023, 11:35:32 PM
No!

https://bitcointalk.org/index.php?topic=2415854.0

Quote
- You CANNOT meaningfully mine bitcoin with your PC or laptop no matter how powerful it is.
 - You CANNOT meaningfully mine bitcoin with your tablet or phone no matter how powerful it is.
 - Mining apps for your phone or tablet that claim to mine bitcoin are almost certainly scams.
 - You CANNOT find software here to mine bitcoin with your PC by itself.
1576  Bitcoin / Bitcoin Discussion / Re: Former Celsius CEO Alex Mashinsky reportedly arrested on: July 15, 2023, 05:08:22 PM
ALL this battle and hate against binance and CZ are really not necessarily to be honest, the man CZ has built a business, and it is his right to promote/hype his business in what ever way he deems it fit, as long as it is within the legal framework,

Did you mean the exchange that has fled a hundred countries and can't manage to get a real license anywhere?
Do I have to mention the headquarters saga again and again? Hong Kong, Singapore, Japan, Malta, we don't want to tell you where?

it is up to us to buy in on his hype of just ignore..

No, that's what spineless plebs have as options!
I have the right to say fuck you to everyone, I have the right to dislike, criticize and send to whatever hole I deem fit at that moment!
What you're describing is a kissing boot attitude that will make sure forever you're just going to be a yes man and your price is half a penny!

In the last mempool clog, Binance wasn't the only exchange that halted bitcoin withdrawal on the main chain, several hundred of exchanges also did same

I assume you have data and the name of these at least 200 exchanges that did so, right?
You're not pulling numbers out of you know what, right?
1577  Bitcoin / Mining / Re: Cool mining set up that more miners should copy. on: July 15, 2023, 01:47:50 PM
Getting old cooking oil forever (years) can be done.

17 million population, 8 litre consumtion, 9.2 kWh per liter

So you have 72kwh per capita, that's 1 day of running an s19, but running 24/365 you will power about 40 000 with all the oil in the country.

Now this happens only:
- nobody eats a gram of that oil, not a gram is lost while frying, and all the oil that is used goes into the generator
- used oil has the same qualities as raw vegetable oil
- the machines are perfectly efficient

Since none of this is actually happening as half is eaten as it is and just by frying you lose up to 25% of the oil, and around 33% of its calorific value, and the efficiency is in the 30%, the numbers will probably be in the low thousands for the entire country!
So 1/2, 75%, 66%, 30%, and 40 becomes 3.

Now let's split the income of 1000 S19 to 17 million people, yeah, you got 15 cents a year!
1578  Bitcoin / Development & Technical Discussion / Re: Proposal to Address Dormant Bitcoin:Recycling Lost Coins into the Mining Process on: July 15, 2023, 01:05:27 PM
Let's keep it simple: Not this shit again!

This proposal welcomes community input, further analysis, and consensus-building to refine and implement the suggested mechanisms successfully...just dont be a dick about it like in other posts i have seen. This space can be very very toxic.

You're talking about taking people's money, forcing people to move their money around so they can't be seized by a centralized authority that can decide and change those criteria as it sees fit, and despite going against everything Bitcoin stands for you want us to just congratulate you for your great idea and not to stick it in the lost hole of Uranus?
1579  Economy / Economics / Re: The impact of Russian and Ukrain war on world economy on: July 15, 2023, 12:51:00 PM
2022 occurred where Europeans started purchasing Russian energy using Ruble instead of dollar so it was strengthened.

Which never happened!

Now in 2023 it is going back to normal and 1 Ruble is 0.011 USD with a 15% dump.
Most fiats are like this. Yen from 0.0095 to 0.0072 (-24%), Pound from 1.40 to 1.30 (-7%), Euro from 1.20 to 1.12 (-6.6%), Rupee from 0.014 to 0.012 (-14%), ...
~ In fact this is one of the main incentives for dedollarisation.

Oh, I got it, it de-dollarisation!
So everyone is dumping the dollar for other currencies and this keeps going up because...the US is doomed!
Meanwhile, the Russian ruble and the Chinese yuan are going down because their economies are doing great!

There is one thing I don't get it
If sanctions don't work, if a depreciating currency like this one is good,

if natural resources are the most important thing in the world, why has Iran dropped 40 places in the GDP ranking to undeveloped Africa levels:


Might be a hint of what's coming for Russia?
1580  Bitcoin / Bitcoin Discussion / Re: Bitcoin is done! Now this is what we are left with! on: July 14, 2023, 06:35:54 PM
I know Bitcoin mining will be over one day. Many sources say that it will be over in the year 2140.

They mean the reward, not the actual mining, and that is determined by the code. Unless something out of the ordinary happens in terms of difficulty adjustments, it's also nearly set in stone.

I can not shake off this curiosity in my mind.

Then you're going to have a hard life since you're going to be stuck with it till you die and even on death bed, you won't find the answer.
Now, till then, let's make a list of the 1056 topics that have been discussed this already since the beginning of this forum:

1. what happened to bitcoin after mining of 21 million
2. After mining all bitcoin
3. When will bitcoin mining run out?
4. What will happen in the mining world with Bitcoin once all coins are mined?

...
1055.
1056.

Pages: « 1 ... 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 [79] 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 ... 742 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!