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1681  Bitcoin / Bitcoin Discussion / Re: The impact of bitcoin on world population, what happens when the population rate on: September 15, 2022, 02:25:06 PM
The first miner to solve the equation successfully gets rewarded with 25 bitcoins.
Outdated figures.
The current coinbase reward on each completed block is 6.25BTC.
It stopped being 25 after the halving in 2016.

The difficulty of solving the equations increases over time, so it takes more time for each computer to find solutions and verify transactions. As more people join the Bitcoin network, it becomes harder for each computer to be successful at finding solutions and verifying transactions. This causes the average time it takes to solve an equation to increase from 25 seconds in 2009 (when the first Bitcoin was created) to 10 minutes today.
The difficulty level can increase or decrease with each difficulty adjustment, depending on how the hashrate increases or decreases.
The average time was always designed to be 10 minutes for each block.

If the world population increases, it will have a significant impact on bitcoin. The more people there are, the more money is going to be spent on things like food, water and electricity. This will lead to increased demand for bitcoin as a currency.

The reason for this is that when there are more people in the world, there will be more transactions taking place. This means that there will be more money being spent on goods and services than there was before.
This is a reach in my opinion. Bitcoin is barely being adopted by the approximately 8 billion people on Earth now. And of those who have adopted it, it's not utilized much for purchases of daily needs. An increase in population, would not significantly impact demand, unless there is a rise in adoption.
1682  Bitcoin / Bitcoin Discussion / Re: What Payment Processors are being used Globally? on: September 15, 2022, 02:17:53 PM
As my believe is on Bitcoin and I know it was meant to be a payment processor why it is not listed on that list? Which made me question other blockchains.
In the technical definition of a payment processor (PP), Bitcoin was not meant or designed to act that way.
A payment processor, although described a bit differently by different website, has some similar terms across all definitions, in how it mediates between buyers and sellers, or in a more basic term credit and debit (cards).
PP acts as a middle man or intermediary, enabling user A, to send funds to user B, more easily and efficiently, despite barriers like banks, currency or border. It's effectively a third party.

Bitcoin is not a third party, infact it eliminates the need for one and allows users transact P2P, so it's not meant to be on that list.
1683  Bitcoin / Bitcoin Discussion / Re: OpenNode is testing Bitcoin payments with the Central Bank of Bahrain on: September 15, 2022, 12:08:09 PM
One issue, though, that I continue to ponder is if it will ever be feasible to use bitcoin without any third party intervention when adopted by the government?
Most likely not. One reason for this would be scalability issues; using Bitcoin as an accepted means of exchange would increase the demand for faster transactions, increasing the demand for 3rd party systems like BTC processors, or lightening network (best case scenario), or some centralized exchange system which is adopted by citizens (worse case scenario).

Another reason is how governments always want centralized and controlled systems. They wish to give the impression of being a citizens watchdog, which prevents them from getting into trouble, but in reality, they seek more control, which is not available on Bitcoin, without the use of 3rd parties.

As we all eagerly await the day when bitcoin will be widely and legally accepted throughout the world,
If you can use Bitcoin today, you don't need to wish on any day where governments get into it.
1684  Economy / Economics / Re: Crypto adoption index 2022 - Chainanalysis on: September 15, 2022, 11:34:42 AM
China are the most unlikely entry for me on the list; with Nigeria, I'm aware that the ban only restricts banks from mediating between crypto transactions, but China have a full on crypto ban, which even affects mining activities in the country, but are ranked #10. Any history on where China was ranked a couple of years ago, before the effect of bans started kicking in?

Vietnam is also a country that comes up very little in crypto discussions, little surprise they are topping the list.
1685  Other / Beginners & Help / Re: Is Bitcoin private enough for freedom financially?? on: September 15, 2022, 11:15:55 AM
Since BTC is not private by default and as such every transaction conducted is recorded on the Blockchain
Bitcoin by default is pseudo anonymous. Information are public, but there is no real identity linked to them, so they effectively are private. Practices that one does to reveal their identity are not directly linked to Bitcoin, neither is it a product of the protocol, and there are some extra steps one can take, if they are very strict on maintaining 100% privacy.

If you think the consideration if running a full node will be challenging due to the space required and the technical skills as well after considering the cost also, you can go for a hardware wallet
A hardware wallet is not an alternative for running a full node. For full privacy you can adopt both, but do not rely on any one to maintain privacy, security or pseudo anonymity.
1686  Bitcoin / Bitcoin Discussion / Re: Father of Blockchain on: September 13, 2022, 06:15:57 PM
let's talk about the man who built the concept of bitcoin. David Chaum.
Pioneered the concept of blockchain technology you mean.
There are lots of history leading up to the creation of Bitcoin by Satoshi and that is definitely not disregarded when discussing cryptic financial technology, this however does not mean David Chaum built Bitcoin; Satoshi did.
1687  Other / Meta / Re: Legendary account banned! [Appeal][1+ year passed] on: September 13, 2022, 06:04:28 PM
Yes it would completely be fine for me in case of permanent suspension of signature. I no longer have intentions to enroll in any of the signature campaigns.
That's the best case scenario that comes out of this, and it's cool that you are down with it, if that's the way you can get back into the forum.
Your appeal is here, and even though the admin does not comment much, they see all (or almost all) messaged posted here and would take an action if they consider your appeal.
If you do not get a response of any sort, that most likely means it's a No to your request.
1688  Economy / Gambling discussion / Re: UEFA Champions League 2022/23 Season on: September 13, 2022, 05:55:35 PM
The squad lineup for both Barcelona and Bayern have been announced, and I am somewhat surprised by both lineups.

Barcelona start Marcus Alonso and seem to be starting a more attacking lineup, with a midfield of Gavi, Sergio and Pedri. I'm highly surprised Jessie doesn't start. Dembele and Raphinha is also a very attacking strike force, would be interesting to see if Denbele starts from the left side, considering how good he has been on the right side of the pitch.

Bayern... meh. As a cule, I didn't check their lineup too much as I'm not too sure who's in form and who isn't at this time. Let's go Barca!!
1689  Bitcoin / Press / Re: [2022-09-13] Man arrested for laundering millions from malicious Electrum update on: September 13, 2022, 04:15:19 PM
With the recent attention mixers have been getting from government, I hope news like this would not turn attention to decentralized, P2P platforms like bisq, increasing censoring.
So that's it? They didn't even seize whatever small commission he got?
He did get a slap on the wrist and data carriers found in his him we're seized. There is no guarantee this contains the entire stolen amounts.
1690  Bitcoin / Bitcoin Discussion / Re: Bitcoin fees (subsidy) on: September 13, 2022, 02:21:33 PM
That's not a personal signature.
Such information is sometimes displayed below the forum ad banner which is located below the first post of every page.
Apologies for detailing this thread
I've seen a couple of those around, but somehow never this one linked above and I wasn't too comfortable with the words used to pass the message across.
I also just saw this link (https://bitcointalk.org/adrotate.php?adinfo) in another thread about factoids which are advertised in the forum ad banner space and was honestly surprised how many there are and how very little of them I have actually come across.
1691  Bitcoin / Bitcoin Discussion / Re: Bitcoin fees (subsidy) on: September 13, 2022, 12:22:45 PM
it was in the forum's main Ad space banner's place.
Oh, I somehow missed the last sentence in the quote, which would have explained it all.
Could have been someone's personal signature text with the forums' ad warning below.
1692  Bitcoin / Bitcoin Discussion / Re: Bitcoin fees (subsidy) on: September 13, 2022, 12:00:04 PM
Quote
Every time a block is mined, a certain amount of BTC (called the subsidy) is created out of thin air and given to the miner. The subsidy halves every four years and will reach 0 in about 130 years.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.

Source: Bitcointalk.org
Do you mind sharing what post you got this excerpt from here on the forum?
The block reward is more accurately called a coinbase, which is giving to the miner who validated the most recent block, and it is not technically created out of thin air, but is a reward for the Work the miner has done to complete the block (using computing power).

I'm no bitcoin expert, but is it possible that bitcoin can undergo a similar merge like ETH before that happens?
I can hardly see Bitcoin becoming similar to ETH in anyway, neither do I expect any major changes in the protocol due to the supply being completed. Minor ones are more probable.

I think bitcoin will remain the main cryptocurrency till there's a block reward, and ETH might take over after that as the main cryptocurrency with more market cap.
There's no guarantee that ETH would even be the number 2 cryptocurrency at that time.
<snip>
You added an extra quote tag, which skewed how it appears, might want to fix that.
1693  Other / Beginners & Help / Re: Why cant we trust the digital signauters more? on: September 12, 2022, 05:42:45 PM
Can you provide a bit of clarity to your question, so someone can give an answer to it?
You seem to be inquiring about mining, with the talk on computing power and creating a fake blockchain?

If you asking why there's a need to use high computing power to validate blocks and why don't the network trust a digital signature, then you need to do a bit of research on how blocks are validated, and it doesn't have to do with "someone's" digital signature.
1694  Economy / Economics / Re: Rebuttal: Rich Mindset vs Poor Mindset on: September 12, 2022, 02:45:54 PM
The only peculiarity is that the rich have money and privileges, which is why it seems as if they know and do better. Many poor people are better than the rich in terms of many things but are only fortunate that they are poor, especially when they find themselves in a very bad country.
I wouldn't want to pick each point and respond to them individually, but they all have a lot of generalization. You can't lump up the rich or poor into any character description or mindset. They all have individuals in both brackets which are on opposite ends of different spectrums;
• There are bums, who were born into wealth and built on privilege,
• There are people who were not and created wealth for themselves,
• There are yet those who were born into wealth and worked had to expand on that, with the privileges available to them,
• There are also those who were not privileged and did not develop a winning mentality and remained in an unfavorable situation.
Saying "many" poor people are better than the rich is also a hasty generalization. What constitutes "better" and how does one's financial situation make them better than the other?

While some lucky ones still find their way to the top, and some rich people become poor due to mismanagement.
Getting rich is not luck, or is barely 5% luck. There are lots of mindset and character factors that go into play. We shouldn't downplay that, to try to make some demographic or ourselves feel better.
1695  Other / Meta / Re: Identifying the OP at a glance (SMF patch) on: September 12, 2022, 08:37:02 AM
First change in years, that wasn't an April fool's prank of course. And a good one too, not the most pressing change I would expect, but still shows some bit of improvements in layout. Great job PowerGlove creating the scripts.

I guess the BPIP extension changes it for you.
Most likely.
I've checked on different browsers and also on mobile and PC, still has the same layout as you indicated.
1696  Other / Meta / Re: Trade Feedback vs Non Trade Feedback on: September 12, 2022, 08:30:24 AM
Trust feedbacks are primarily used for trade related reasons, so making a distinction doesn't seem necessary.
Before trust flags, there were some ambiguity about what requires a feedback and what doesn't, but theymos cleared this up when creating flags;
Use-case #1 is the old trust system, but I made the descriptions on the rating types a bit more general and removed the concept of a trust score. The numbers are now "distinct positive raters / distinct neutral raters / distinct negative raters". You should give these ratings for anything which you think would impact someone's willingness to trade with the person, but you should not use trust ratings to attack a person's opinions or otherwise talk about things which would not be relevant to reasonable prospective traders.
Use case #1 above, was 'getting a general idea of someone's trade history and trustworthiness".
Imo, trade doesn't have to be a exchange of goods or currency, purchasing a service and getting it delivered on time and as expected, great communication during the process is also added in.

A non trade option doesn't quite fit into the feedback system.
1697  Other / Archival / Re: Mods are constantly trying to put the thread in the altcoin section on: September 11, 2022, 06:58:17 PM
Could be the title 'yield', which is linked to DeFi and altcoin investment, but even that is not a reason enough to classify the thread as an altcoin discussion.
It seems a perfect fit for Beginners & Help board
1698  Other / Beginners & Help / Re: questions on trust wallet and crypto credit cards? on: September 11, 2022, 06:46:09 PM
1. if buy a new phone and install trust wallet,  memorize the phrases, receive some tethers and then stop using the phone for good until a future time:  is there any chance of your trust wallet getting hacked?
No. But, you would more easily forget the phrase as human memory is not reliable as a back up, much less as the only means of access.
The fact that it's sometimes called a mnemonic phrase does not mean you should attempt memorizing it. Always use a form of offline backup(s).

2. do people keep millions worth of crypto in trust wallet?
Crypto are stored on the blockchain, wallets only allow you access it through your private keys.
Preferably bitcoins worth above $1k should be stored in a hardware wallet or airgapped device.

3. any chance of your trust wallet account getting frozen like they might do on exchanges?
On a custodian wallet, the risk for this is very present and high. Trust wallet is non custodian, so not likely. But, it's not recommended cause it's closed source.
1699  Other / Beginners & Help / Re: Cold storage and using USB to transfer files without malware or viruses? on: September 11, 2022, 06:22:06 PM
My question is, should I ever use a USB on this laptop again or is there a risk of transferring viruses?
There is a risk and I would advice you do not use a USD or drive on the laptop, to keep it completely airgapped.

My other question is, will I ever need to have to transfer anything to the cold storage laptop again after installing electrum? What about the offline signing to send transactions?
You wouldn't need to transfer anything. All you need is to copy the unsigned raw transaction and send that to the air gapped pc. You can also scan the tx qrcode to get the transaction.

The laptop does have a camera on it and its an old windows xp laptop, will I be able to use that camera to read QR codes for offline signing? If so, should I also install software to make sure that feature works?
AFAIK, it should work alright without you needing to get any other software. Other members could drop that input on that.
1700  Bitcoin / Bitcoin Discussion / Re: How Bitcoin changed my life on: September 11, 2022, 06:16:33 PM
And I started Bitcoin investment in the month of October 2017 when the price of Bitcoin was $6,468, were I invested $10,000 all the money I saved from my delivery job in Bitcoin investment and hold for like 3 years before I released my bitcoins to the market in the month of  December 2020 during the Christmas period when the price of Bitcoin increased to $23,400 that helped me to achieved massive incomes from my Bitcoin investment that changed my life in the society.
You saved up $10,000 on a salary or $3,600 per year and invested all that, while quiting your job and working on nothing for the next 3 years?
Also, why wait for 3 years to sell at a profit, when you could have sold few months after October, 2017 at more than 3 times you bought at? You waited 3 years to sell at roughly the same amount you would have gotten in 2 months (and possibly reinvested), and then sold at the very beginning of the next bull run.

2) Opportunity: Try to embrace genuine opportunity that will change your life in future, like what I did to eliminated poverty in my family by embraced Bitcoin investment to quit my delivery job that changed me in the society.
For someone who could save up $10k, $23k is hardly life changing.
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