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1681  Economy / Speculation / Re: bitcoin circle with simple words ? on: January 20, 2022, 03:03:20 PM
Around every four years, there is a halving event where the block reward is halved. This reward is the only way new bitcoins are generated and it's paid to miners.

Thus every 4 years, the rate new coins are created also reduces and it can lead to speculators pushing the price of bitcoin upwards because of the reduced supply of new coins.
1682  Other / Meta / Re: Locking old thread and creating a new one in gambling section on: January 20, 2022, 02:37:23 PM
Yes if they can (they'd probably have to lock the old thread and lose some reputation/reviews unless they link to it and users actively go there).

If they already have one reserved post though, they could look into anchoring and linking to content from within that one post (having both mentioned and then hr'd and anchors linking from the titles).
1683  Other / Beginners & Help / Re: 10 interesting facts about cryptocurrencies on: January 20, 2022, 12:56:47 PM
Regarding number 10. Can be profited gains from crypto be taxed even there is no laws or anything about it prior to its commencement?

In most countries you pay tax on the value/gain you incurr from the asset so there doesn't have to be any laws specific to that asset to be liable to being taxed.



And yeah I'm in agreement number 9 is not fun.

And lol number 6 was kinda expected, maybe higher than what you said but 7k (traded) altcoins makes sense.
1684  Bitcoin / Bitcoin Technical Support / Re: Node is slowing down syncing on: January 19, 2022, 11:50:42 PM
But it is stored on an external hard drive.

Has it always been there or have you moved it recently? That might've been the thing that slowed your syncing down as external hard drives have lower access speeds.

1685  Alternate cryptocurrencies / Mining (Altcoins) / Re: tried to undervolt my 3080 not it is as dead on: January 19, 2022, 04:59:38 AM
Do you not mean overclock/overvolt? I think undervolting was underclocking.

Have you tried returning it back to it's suggested range (from what the manufacturer suggests to use) and tested it out after doing that?
1686  Other / Beginners & Help / Re: How safe is a multi signature wallet on: January 18, 2022, 06:39:57 PM
You'll probably be able to defend against a lot of attacks by doing a 2 of 2 multisig (just make sure it's not 1 of 2 as you're just adding vulnerability in that case).

You should be careful not to venture onto odd sites or download files/software you don't fully trust and doing other things like that to make sure you're not accidentally inviting malware.

You'll have to use the same client type on both too (like using electrum) just to make sure the structure of the partly signed transactions remain compatible when sending them between devices.
1687  Bitcoin / Bitcoin Discussion / Re: Bitcoin User Loses Record $1.1M on: January 18, 2022, 04:58:07 PM
How can we know that that transaction wasn't made by the scammers themselves in order to create a fake perception that other people are sending money to them?

Yes, I was thinking this could've been what happened too and mightve even been likely. Someone who posted above you also said they expected someone with $1m to not be naive, a scammer could've relied on this too.

Cases like this just prove that there are a lot of people who are incredibly naive and have no idea what they are doing in life. Someone may now try to blame Bitcoin for everything, but the blame is on a person who believes that someone like Saylor is distributing millions of dollars to random people.

Sometimes I forget just how valuable bitcoin has become from when it started though. Not that I'd send money to a doubler but just the denomination and a few other things can throw people off. Hopefully it wasn't all the btc they had too.
1688  Bitcoin / Electrum / Re: Seed Phrase Compatibility With Newer Version on: January 18, 2022, 04:33:26 PM
Will the seed phrase (12 words) from a version 3.x wallet successfully create the private keys with Electrum V4.x ?

It's been a while since I upgraded to v4 but I think it recognised my wallet files too?



It's also possible to use a master private key on many different pieces of bip39 compliant wallet software and tools from your electrum wallet. That's the part that has quite good cross compatibility afaik.
1689  Other / Beginners & Help / Re: All Bitcoins are mined in 2140? on: January 18, 2022, 04:25:41 PM
Block rewards will also probably start to go the other way and seem a lot smaller than the fee reward before they are completely phased out.

If scalability improves too, with price, then I think it's possible we'll see fees remaining quite low but being high enough per block to pay miners adequately.

The miners are also able to control the network quite a bit in some ways so they'll probably find a way to maintain their profitibility. I've mentioned mining lotteries before with the idea of putting individual chips into routers (or plugging them into them) to solo mine for people too - that'd also produce a stable network and be much more decentralised.
1690  Bitcoin / Electrum / Re: Not connected on Bitcoin Private Electrum P!1.0.0 on: January 18, 2022, 02:24:11 AM
I can find this related to what you're saying: https://github.com/BTCPrivate-Legacy/electrum-btcp-legacy (based on their own announcements it looks like server connections are slow anyway).

I'm not sure if that's them or a fork of them but is there a reason you're not using the official electrum release, is there a difference or something?
1691  Other / Beginners & Help / Re: Text to sha256 private key creation on: January 18, 2022, 02:20:10 AM
Mnemonic phrases have already been introduced via bip39 for a lot of software. They're much safer than this method and currently pretty much impossible to bruteforce.
1692  Bitcoin / Bitcoin Technical Support / Re: I have a question about Bitcoin cold wallets on: January 16, 2022, 04:12:35 AM
A lot of trezor software (perhaps all of it) is open source also and can be used on it's own without an official trezor (when I was looking at hardware wallets, this was a suggestion - that you could get your own printed or, I think, make a raspberry pi into one.

As said above, bip39 compliance is a standard and there are a lot of lightweight clients that can accept it (some web scripts can be downloaded too so you can get the keys out and import them into other software that isn't bip39 compliant).

1693  Other / Beginners & Help / Re: Experts Directions in Bitcoin talk on: January 16, 2022, 01:31:24 AM
There aren't any challenges here. Engage positively in the community and you'll likely be rewarded with merits.

The main rules of the forum are generally: not to spam, not to post referral links and not to derail topics away from what the topic starter intended.

I'd recommend trying to familiarise yourself with how the forum looks and navigates and see if there are some boards that pique you're interest.
1694  Economy / Trading Discussion / Re: DCA instead of stop-loss on: January 15, 2022, 11:12:03 PM
If you can learn when to walk away and stick to a tight strategy on that then it's likely fine.

This is very similar to how a lot of high return copy traders work on exchanges though and the majority of them get rekt by not learning when they should stop trading (seems like an addiction to some).
1695  Bitcoin / Electrum / Re: How can i recover my Electrum Seed? on: January 15, 2022, 08:22:39 PM
It's been said here before that you can contact trusted coin support and ask them for your private keys so you could try to do that (I'm not sure how much information theyll want though - you might just have to send them an email from the email address you registered with).

There are steps you can follow here that light be able to give you the stored master private key for one of the cosigners (im not too sure how multisig works): https://bitcoin.stackexchange.com/questions/74978/how-to-get-master-private-key-in-electrum-wallet#74990
1696  Bitcoin / Bitcoin Discussion / Re: Who creates more impact in bitcoin price the Hodlers or Investors? on: January 15, 2022, 02:13:37 AM
Holders have much more of an immediate price impact, while investors have a distributed price impact in your example.

If you buy or mine all your coins all at once, you're going to move the order book quite a bit (especially if you're old enough to have amassed a decent amount of money). Conversely, investors might do things like dcaing and buying crypto as it drops so they have more of a hedging/balancing effect on the market.

It was never strictly the fact that:

hodler = one lump sum purchase
investor = multiple buys or DCA

Let's not forget that a hodler is just broadly someone who holds bitcoin. Not a group of people with a strict buy strategy.

I normally assume hodlers are people who buy bitcoin for a price that means any newer buys after a certain time barely make an impact in their portfolio.

If you imagine someone putting $15k into bitcoin and getting 100 in 2015 and kept holding until now, that'd be a (potentially extreme) case of someone I'd consider a hodler.

There are definitely going to be gray areas between everything though and there might be a reason some people continue to invest in bitcoin (as apposed to just taking profits if someone did hodl something near that).

Many of the players, from investors to first time buyers, that are buying at this stage don't hold long term. It's when the price of bitcoin starts to climb that the majority of the holders come back in. Once it starts to become mainstream they tend to buy. As the hype wears off a lot of the investors go back to their day jobs.  Wink


Yeah, a lot of this is due to market unknowns and complexes with individual retail traders to exclusively be happy with profits and accept little else - there was a discussion I remember from a while ago about trying to get exchanges of actual risk of crypto investments.

1697  Bitcoin / Hardware wallets / Re: A secure hardware wallet for Bitcoin ? on: January 14, 2022, 08:15:53 PM
Unbranded tablets on amazon seem to sell for £50, you could probably find some from a shop that price (just make sure they run android) and then you can airgap with electrum without buying something more specific/expensive.

A lot of hardware wallets (like the trezor and ledger) do have signature verification built into them though, which makes them seem quite a bit more secure.
1698  Bitcoin / Bitcoin Discussion / Re: Who creates more impact in bitcoin price the Hodlers or Investors? on: January 14, 2022, 06:15:47 PM
Holders have much more of an immediate price impact, while investors have a distributed price impact in your example.

If you buy or mine all your coins all at once, you're going to move the order book quite a bit (especially if you're old enough to have amassed a decent amount of money). Conversely, investors might do things like dcaing and buying crypto as it drops so they have more of a hedging/balancing effect on the market.
1699  Bitcoin / Bitcoin Discussion / Re: Why do hide satoshi Nakamoto himself? on: January 14, 2022, 03:22:16 PM
There's a lot of disadvantages to fame many people miss, perhaps they didn't want any of those.

Perhaps they didn't want to have their identity questioned and challenged still (as that might've happened) or have their integrity challenged.

Maybe something went on in their life to make them disappear too, a change in personal circumstances or something. I think there's been mentions satoshi could be around and developing on bitcoin still but might've wanted to hide who they are so people don't just respect and follow what they want.
1700  Economy / Exchanges / Re: Who knows a platform with ALCM function? on: January 14, 2022, 12:46:56 PM

I also think if a trader has opened a position already and he chose isolation margin, he will not also be able to convert to cross margin accept when he closes the trade to open new position using cross margin. I hope I am correct about this.

This is going to be exchange specific, for example, I have a feeling bitmex used to allow isolated to cross margin moves (but not backwards).

Try the Fybit platform, I trade there myself, there are no problems.

I'd be careful using a lesser known exchange, at the very least they could have exploitable bugs making them more prone to having funds stolen.
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