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161  Bitcoin / Bitcoin Discussion / Re: Bitcoin For Purchasing Goods and Services Mainstream>? on: April 24, 2024, 06:57:19 AM
As right now BTC is more of a store of value. The value of it is not high enough to be able to use mainstream for the global market as the money system. For all markets to be based on.
What do you mean by "value"? Is it market capitalization of bitcoin? That is $1.3 trillion which puts Bitcoin on the 9th biggest market according to this list: https://8marketcap.com/ which is above a lot of big companies like Meta and big banksters like JPMorgan Chase.

In other words "value-wise" Bitcoin can handle a lot, not to mention that it is still appreciating and has a lot of potential for more rises which would increases its "value"!
The real question is "does it need to do any of what you said?" and the answer to that is no.
162  Bitcoin / Bitcoin Discussion / Re: Will the number of new investors reduce? on: April 24, 2024, 06:50:10 AM
The halving was a major event that attracted many new investors to bitcoins, some started investing seriously some months to the halving just so to make some profit from it.
There are always new investors coming in but I don't think there were a significant increase in the number of new investors before halving. The rise we experienced is pretty much the existing traders that only looked at the historical charts and realized each time before each having there is a rise so they started buying more bitcoin than before hence creating the rise.
163  Other / Beginners & Help / Re: Do Miners still continue? on: April 24, 2024, 04:53:43 AM
It is believed that Bitcoin halving is an event that happens every four years in the crypto industry
Not in "crypto industry", halving is a Bitcoin related event and some altcoins that copied Bitcoin also follow the same thing but may have different intervals.
It is also not "believed" to happen every 4 years, it is part of the consensus rules and must happen every 210000 blocks that happen to take about 4 years.

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Since Miners rewards is being cut half during the halving, do they still continue in the number they were before the halving?
This is the 4th halving we've had and so far the hashrate has only grown, meaning the number of miners has grown. The reward has gone down from: 50 > 25 > 12.5 > 6.25 > 3.125
Some miners may shut down and go away if the operation is not profitable enough for them. But the total hashrate is important to us not these small changes.

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Does all miners receive equal rewards? or the reward differs base on who solves the algorithms first and a transaction is confirmed.
When a block is found, there is a reward that can not be bigger than the predefined amount. The miner that found that block will receive all of it. However, since nowadays mining is like a cooperation through "pools" there are multiple miners that find a block so they split that reward amongst themselves based on their amount of contribution.

I thought the price will not affect miners since they are getting fixed rewards from the halving, or is it that if the price of Bitcoin reduces the transactions fees reduces as well?
The reward is in Bitcoin while their cost of mining (electric bill, employees' salaries, taxes, etc.) is in fiat so how much 1 bitcoin is worth affects them.

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I assume that it is impossible for all miners to stop mining at the same time without a cause except if there by any complications in the mempool which is rare.
Mempool is not a singular place to have a "complication" and have a global effect; each node has its own mempool and not to mention to find a block you don't necessarily need mempool, the block can be empty.

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Does it means that all miners must belong to a mining pool?
They don't have to, they can "solo mine" but they'll have to run their own full node and monitor a lot of things. So it is easier to join a pool specially if their hashrate is too low to find a block often enough.
164  Economy / Trading Discussion / Re: what sort of features would you want in a trading bot? on: April 24, 2024, 04:09:35 AM
But that ideal is almost impossible to reach, so in my opinion at most a bot should give signals, but it should not have the feature of trading by itself, this way the trader can always double check that everything is in order and only then conduct a trade on the exchange of their preference.
It depends on the trade. A lot of strategies can be automated, off the top of my head I can mention stop loss orders that need to be executed automatically and from trading strategies I can think of Arbitrage Trading which has to be fully automated to work efficiently and fast. In fact arbitrage is not something you can do manually and make profit.
165  Bitcoin / Development & Technical Discussion / Re: I have 26 out of 24 mnemonic words. Am I able to brute force still? on: April 24, 2024, 03:41:03 AM
The first word can be in 20 positions.
The second word can be in 19 positions.
...
The 20th word can be in 1 position.

So it's 20x19x18x...x1 = 20! = 2,432,902,008,176,640,000
You have 20 words to place in 18 positions (the first 6 are already filled and 24-6=18) so it is 20*19*18*...*4*3
166  Bitcoin / Bitcoin Discussion / Re: Bitcoin Halving Making Me Wonder on: April 23, 2024, 11:01:26 AM
Bitcoin, with all its awesomeness!, has some shortcomings and flaws too. One of those is its vulnerability to spam attacks that can create congestion and cause fee spikes. That "shortcoming" exists because there is a finite amount of space available in each block but there can be virtually infinite number of transactions competing for that space.

A while ago, someone found another exploit in the protocol which allowed them to inject an arbitrary message into each block with an arbitrary size. Then they created a scam known as Ordinals where they sold those messages to newbies who didn't understand what "token" really means. That scam market picked up a lot of gamblers who then participated in creating a lot of such messages exploiting the protocol and effectively spamming the network.

This recent fee spike is the result of that ongoing spam attack.
167  Bitcoin / Bitcoin Discussion / Re: Everyone is celebrating about the fourth halving but what is this? on: April 23, 2024, 10:53:20 AM
Before the halving we had this idea where block rewards would decrease and miners would get less rewards.
It is not an idea anybody had, it is just FUD. Every time there is a Halving, there are people who spread this FUD about "miners going away and bitcoin dying" but it never happens. The nature of mining is in a way that it keeps going and when it is accompanied by price rising, the miners' profit grows too but in the long run.
Don't forget that price wasn't always $65k-$70k. It's not so long ago when it was less than half this ($30k-$35k) and miners were making a lot of profit then. And with 3.125BTC reward at $65k we are at the same place as back then!
168  Economy / Economics / Re: Food shortages coming to the United Kingdom, BUT - on: April 23, 2024, 10:43:53 AM
This is one of the many consequences of the Energy and Economic Crisis I have been talking about over the past 3 years. That's just the government trying to cut costs and the biggest pressure is on the lowest income groups such as the farmers. Hence the ongoing protests over the past couple of years!

It is too soon to see a major food shortage in UK because for now they've been "loosening" the laws an importing lower quality food products that are cheaper and the consequences of which will be seen in the diminishing health of the population over the coming years...
169  Bitcoin / Development & Technical Discussion / Re: Any of you sent a message @ Block #840000 through OP_RETURN? on: April 23, 2024, 08:37:18 AM
All of you might already know that Block #840000 is a special block.
It really isn't though. It's just a block like the other hundreds of thousands of bitcoin blocks Tongue

Many paid extra fee to get their transaction included in this block. Lots of people sent a message through OP_RETURN to be a permanent part of Bitcoin history. Effectively, total fee collection by miner ViaBTC have become a staggering 37.626 BTC.
It is worth clarifying here that the fees weren't this outrageously high just because people were trying to get into block #840000. The main reason for it is an ongoing spam attack that started a couple of weeks ago and has been artificially inflating the fees.

Here is the visualization of mempool from the past 2 weeks. The mouse is on top of the approximate place where block #840000 was mined. You can see how the spam started a long time ago and has only grown ever since. There is only a small spike at #840000 as the underlying spam attack continues
170  Bitcoin / Development & Technical Discussion / Re: Ordinals suddenly starts making the rounds. on: April 22, 2024, 02:38:38 PM
My searches on what Ordinals really is talks about, Ordinals being some Bitcoin NFT,
That is why Ordinals can be categorized as a scam because it is not an NFT. To be a "token", first Bitcoin has to be a token creation platform (which it isn't) and it has to contain actual script/smart contract that is executed inside and enforced by the Bitcoin protocol (which it isn't).

Ordinals is just arbitrary data that is being injected into the bitcoin blockchain by exploiting a flaw in the SegWit rules consensus rules.

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where Satoshi Nakamoto assigned some signatures to the sats that could serve as an NFT (Non Fungible Tokens).
Satoshi didn't do that. Someone else created this whole fakery!

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Should a currency of this nature really have that?
Satoshi Nakamoto has already answered that (just replace DNS with the Ordinals crap and it's pretty much the same thing):
Piling every proof-of-work quorum system in the world into one dataset doesn't scale.

Bitcoin and BitDNS can be used separately.  Users shouldn't have to download all of both to use one or the other.  BitDNS users may not want to download everything the next several unrelated networks decide to pile in either.

The networks need to have separate fates.  BitDNS users might be completely liberal about adding any large data features since relatively few domain registrars are needed, while Bitcoin users might get increasingly tyrannical about limiting the size of the chain so it's easy for lots of users and small devices.

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While it talked about having certain signatures attached to the sats, isn’t this applicable to every other sats out there, to serve as a unique unit of there own with them signatures?
It kinda is! Considering how Ordinals work (a completely separate and centralized place where people put a value on random UTXOs) you can decide to place a value on any UTXO the same way! and call it a "unique unit".
171  Bitcoin / Bitcoin Discussion / Re: What's Next for Bitcoin Enthusiast on: April 21, 2024, 10:51:01 AM
Can we call someone who is mainly interested in the "price" and bull runs a "bitcoin enthusiast"? That sounds more like fiat enthusiast, but I suppose it is OK as long as price is not the only thing that person is interested in Wink

I'm personally always interested in any adoption-related news. Like another country adopting bitcoin as legal tender or even any general "good" regulations that helps the adoption of it grow.
Other thing I always hope to see is other countries starting to get into mining bitcoin more. We are in need of as much decentralization as we can get. Concentration of mining hashrate in certain countries is always dangerous and a threat for Bitcoin's decentralization specially countries that are known for abusing powers like China and USA.
172  Economy / Economics / Re: USD prices speculation on: April 21, 2024, 05:11:32 AM
Whoever wrote that article has no understanding of the economy Cheesy
Specially since they are comparing USD with Japanese Yen and interest rates.

Let me put it simply.
When Japan prints money (lets say a million dollar equivalent) that money is only going to be used domestically inside Japan and it only enters Japanese economy. Simultaneously when the Japanese government wants to sell any bonds they pretty much sell it domestically to Japanese so that also stays domestically.
On the other hand when US prints money (a million dollar) that money is used globally and enters global economy. When they increase interest rates and sell bonds they also sell it globally.

So for example the $1 million US printed is going to be used by Saudi Arabia to sell its oil to Japan and the bond US printed and dumped on the world is also going to be bought by Japan. So now Japan is facing 2 inflations: First is the one caused by the $1 million they printed themselves and Second is the $1 million US printed and they used. Meanwhile they are also using the little money they have left to buy US bonds to help US economy stay up instead of using that domestically to improve their own economy Grin

This is not called "US economy booming", it is called a Ponzi scheme at its peak.

Otherwise a healthy and booming economy does not have:
1. A high inflation
2. A high interest rates
3. A government that prints $1 trillion every 100 days
4. A massive trade deficit
5. A massive national debt ($35 trillion) and growing


So things are pretty much the same as 6 years ago when you started this topic.
The more the world dedollarises, the more they decouple from the Ponzi scheme known as US economy so the more their own respective currencies strengthen and the more US dollar weakens.

If they do the opposite and do less dedollarisation, use more US dollar and increase their dependence on the Ponzi scheme, the more their own respective currencies dumps and the more their economies weaken while US dollar strengthens.
This goes on until we see another catastrophe like 2008 when the Ponzi scheme falls apart and it significantly and negatively affects global economy. More effects on those who didn't dedollarise...
173  Other / Politics & Society / Re: Americans Profits from War and Terrorism on: April 21, 2024, 04:57:51 AM
Americans aren't, the American regime and the small number of oligarchs behind the scene are.

Just take a look at the stats from the past ~50 years.
The middle class is pretty much screwed and has mostly fallen down to lower class now while lower class has entered absolute poverty.
With poverty and homelessness on the rise every year setting a new record.
The infrastructure that is getting old and in a lot of sectors counted as decrepit without any budget to fix it (eg. recent increase in train derailments).
The domestic economy is pretty much a Ponzi scheme where regular people have to go deep into debt to be able to live.
Production is mostly dead in America and as they say "The American dream is now made in China". That is why there is a gigantic trade deficit with China.
The National debt is $35 trillion and the regime keeps printing a trillion dollars every 100 days which will only affect the regular people.
...
174  Other / Politics & Society / Re: The Resurrection Of ISIS on: April 21, 2024, 04:21:21 AM
Well. I guess ISIS were not stupid enough to directly attack Saudi Arabia while their force was still relatively small and were still seeking to hold onto those territories they wanted to keep for themselves in the long term. The Saudi Army would have completely destroy them if they tried to march and conquer the Mecca and Medina.
Same could have been said about Syrian Army. By the way ISIS didn't have an army nor did they march on anywhere. It started as guerilla warfare with terrorist cells destabilizing the country weakening security and military forces accompanied by a color revolution and then it ended up with an army and conquers.

Another thing you have to keep in mind is that ideology-wise ISIS is pretty much Wahhabists which aren't categorized as Muslims by any of the Muslims. The birthplace of this radical ideology is Arabia, their leader still resides in Arabia and most number of followers of this radical ideology are in Arabia.
In comparison Syria and Iraq are filled with Shia and Sunni Muslims.

I personally do not have much to say on those theories about ISIS being a creation of Israel or the United States. I have indeed heard Donald Trump to explicitly say Obama created ISIS, but I would not say he is a reliable source.
Also, many of the leaders of ISIS were former members of Alqaeda,
He is not a reliable source but the information coming out of his mouth is when it is something we already knew and had a lot of other evidence from other sources.
It's pretty much Al-Qaeda and 9/11 all over again. US regime hiring terrorists to do its bidding. And the evidence about such a thing comes out from United States itself years later such as these recent court filings that points to how CIA recruited the terrorists for the 9/11 attacks on Americans:
https://thegrayzone.com/2023/04/18/9-11-hijackers-cia-recruits/
175  Economy / Economics / Re: 2024 & Prediction of World War III - Effect on Cryptocurrencies on: April 20, 2024, 06:24:11 PM
Of course, a significant contribution to the change in tactics and strategy of military operations was made by Iranian cheap “Shahed-136,” which the Russian side is massively using against Ukraine. But not only the warring parties, but the whole world learns from this war. This, one might say, is the first big technological war, and militaries around the world are watching and learning from it.
Iran is the pioneer in this Modern Warfare and the basis of it was started in the early 1980's, so the Russia/Ukraine thing is not exactly "the first". For example the highly lauded multi-purpose Mohajer-6 (the name that was heard alongside Shahed-136) is a project started back in the 80's during the full scale invasion of Iran.
1980's vs today

Once upon a time Iran was in the position where Ukraine is today but without any country supporting it! In fact the quite opposite was true, meaning 82 countries were supporting the invaders (ie. Iraq) and at least 32 countries directly participated in it (Iran had taken prisoners of war from that many nationalities). That also includes an unprecedented coalition between US and USSR against Iran!!!
As they say "necessity is the mother of invention". That's exactly what Iranians did, they invented their very own method of Warfare that was cheap but most importantly it was highly effective.

40 years later the descendants of that silly looking drone have technologically advanced and are currently flying on top of the US aircraft carrier groups while extremely hard to detect, are locked and loaded ready to sink the entire US navy in a moments notice...

This Mohajer-6 flying over the Persian Gulf monitoring every movement of USS Eisenhower from a while ago:
176  Economy / Economics / Re: 2024 & Prediction of World War III - Effect on Cryptocurrencies on: April 20, 2024, 04:54:46 AM
because of Russia and China so their economy might not be affected by the sanctions these days.
Nah, Iran's economy is not going to be affected any more than it already has because of US sanctions because they are repetitive. That's what happens when US sanctions a nation for 45 years, they run out of things to sanction and it becomes ineffective.

I also have to point out the hypocrisy in this move by US since Israel is supported by US, Israel commits genocide and has already murdered at least 33000 innocent people 70% of which are women and children, it is Israel that breaks international laws such as article 2 of UN Charters, ... there is 0 US sanctions on Israel
But when Iran punishes Israel according to article 51 of UN charters, it is Iran that is sanctioned Cheesy

BTW this is why the Old World Order died and we are currently establishing the New World Order.

what i notice is that these skirmishes and provocations are used to manipulate BTC price, you think?
I don't think so. The initial punishment on the night of April 13, created a panic sell but that was it. The recent market activities are natural and not related to any news. We see it during each halving month. It could also remain this way (going sideways) for a couple of weeks.
177  Bitcoin / Bitcoin Discussion / Re: Perishable UTXOs on: April 20, 2024, 04:27:06 AM
There are two parts in your topic.
One part is the ECC being broken and needing to be replaced.
Second part is lost/abandoned coins/keys.

Considering how the concept of "lost coins" makes no sense in a system like Bitcoin, nobody should ever touch them. Even if ECC is broken and anybody could spend those. That simply goes against Bitcoin principles.

The only thing I could see happening is the very special scenario where ECC is considered broken. In which case, there should be migration period where we replace ECC (or components of it like the 256-bit curve) with something else. It could last a year or a couple of years. In that period people should move their coins to the new algorithm themselves and after the deadline any coin that is not moved should be locked forever (instead of being claimed by a miner or anything like that).
178  Bitcoin / Bitcoin Discussion / Re: Everyone is celebrating about the fourth halving but what is this? on: April 20, 2024, 03:41:53 AM
It is either what @nullama said (people trying to get into the halving block) or this is "fee market manipulation" considering the timing and how the attack took place. There was an "artificial" injection of a rather large number of transactions (the first suspect is the Ordinals Attackers) into the mempool which has only manipulated the fee market and significantly increased the fee rate by creating this fake competition.

Luckily the attack is becoming very expensive so it can not continue for long but the attack itself will not stop as long as the exploit in the protocol exists and the fake market where they sell fake tokens under the codename Ordinals exists. That is creating an incentive to spam attack bitcoin.
179  Economy / Speculation / Re: Iran strikes Israel. Crypto crashing heavily... on: April 19, 2024, 04:39:43 PM
That was a fake news that funny enough all the big names like BBC, ABC-news, WSJ, etc. ran with.
Apparently journalism is dead and we only have FUDism these days Cheesy
The US said Iran has been attacked by Israel. Israel has said nothing yet about the attack. Iran is talking about explosive that no damage was done and they are investigating what it is or something. It is confusing and I believe in what you said. I do not think there is any aiming attack at all. But what I just also think is that the journalists will first believe in what US said but later the truth might be known.
What's funny is that the only war that is happening is in the media. What's even funnier is that Israelis don't even believe the fake news themselves Cheesy
For example the funniest back and forth in my opinion was with Tasnim, the Iranian semi-official news agency that put the single-word tweet of minister of national security of Israel, Ben-Gvir on its front page. It said one word that translates into something like useless. Ever since then the fights between Zionists has gotten worse as now they are are attacking Ben-Gavir for his stupidity because he revealed how useless their FUD attempts was: https://tn.ai/3071452

In any case, Bitcoin is just experiencing the very common trend of being dumped right before halving which I doubt it has anything to do with what's happening in the media, even as a contributing factor. We have seen this trend in previous halvings too. After halving is done and possibly after a week or two we are going to start seeing rises again.
180  Economy / Economics / Re: 2024 & Prediction of World War III - Effect on Cryptocurrencies on: April 19, 2024, 03:50:50 PM
The rest is just mainstream media games.
This night, the Israeli army launched a drone strike on Iran.
As I've already said, the rest is mainstream media games.
What happened today is not even categorized as a "drone strike". What was used is something like the picture below, a toy that can be bought from a "toy shop". It has a very low range, so basically it was some idiot who was stupid enough to buy this toy from a toyshop and fly it into a restricted airspace and get it shot down which made some noise.


The only question is whether the idiot who did this was some brainwashed kids who was paid to fly this toy around not knowing what they were doing or a hired terrorist to make some noise so that the media games can happen. It will become clear when the culprit is arrested. Wink

But let me complete my statement from earlier, the entire NATO coalition can not face Iran militarily but they will definitely activate their terrorist cells and Takfiri groups to try to "create chaos" and weaken Iran hoping they can do something in the middle of that chaos.
The US regime's proxy known as ISIS is going to be the most possible choice which has already been activated. But there are other smaller terrorist groups like the one hiding in Western Pakistan (South East Iranian border that both countries had to deal with) that was activated weeks ago and has already tried a couple of terrorist attacks.
Color revolutions are their go to as well, although they haven't worked in the past 45 years that they've tried.

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Your statement that the entire NATO coalition will not be able to resist Iran, either economically or in terms of firepower, sounds like a joke. Iran's armed forces are the eighth largest in the world, and Iran's defense budget in 2018 was only $13 billion, making the country the 18th largest military spender in the world. For comparison: the US defense budget alone is more than $700 billion.
War is not fought with numbers, it is fought with firepower and technological superiority.

But if you love numbers so much lets put that $700 billion into perspective.
The Operation Truthful Promise lasted 4 hours and it cost NATO roughly $4 billion in ammunitions alone to defend against this small punishment (not counting the damage to the 6 or 7 bases that were demolished, aircraft that was lost, etc.). That is $1 billion an hour to defend against the smallest number of the lowest tier of Iranian projectiles launched with a 10 day warning and time for preparation.
That means if the entire $700 billion were spent on defense, and Iran only used teeny tiny number of its lowest tier of ammunitions that would buy US regime 700 hours of not even surviving (since majority of the projectiles went through). That is only 29 days.
This cost Iran $2 million tops Wink

In an actual war it won't be some outdated technology at low numbers like 50 Shahed-136 and 30 Emad missiles and a handful of Paveh cruise missiles. These are jokes in Iran's highly advanced arsenal. For example Paveh is a subsonic toy used for tests in parades or Shahed-136 is an ancient tech that is too old Iran only sells it to other countries.
In a real war what will be used would be 50000 stealth Simourghs, multi-purpose Karrars, bomber Gazas, Arash loitering munitions etc. + 11000 Kheybars, Fattah and Fattah-2 raining down every day for months. That $700 billion would evaporate in matter of minutes...

BTW for comparison in the Russian NATO war the both sides combined used about 12k missiles and less than 10k drones in 3 years (that is 10 missile/day).

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Iran has 509 aircraft and lags far behind - both in quantity and quality of air force
Tehran's fleet consists of six frigates, three...
Iran has about 1,634 tanks...
If you think you can know what Iran has and how much by using Google, then you are sillier than I thought Cheesy
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