bitcoin was made by someone(post latest millennium) who patched lots of idea's together(from prior-to-millennium idea's) along with his own(post-millennium) idea's
but this does not mean "bitcoin" was a 60 year project
No one is claiming that, franky. But if technologies like Adam Back's HashCash, Hellman-Merkle-Diffie's Public Key Cryptography, Wei Dai's B-Money, and Nick Szabo's BitGold were not invented, we can confidently say that Satoshi's Bitcoin would also not be invented, OR it probably will be invented decades later if we're lucky. Newbies, plebs, EVERYONE should read the course. HashCash, https://learn.saylor.org/mod/book/view.php?id=30735&chapterid=6706B-Money, https://learn.saylor.org/mod/book/view.php?id=30735&chapterid=6705BitGold, https://learn.saylor.org/mod/book/view.php?id=30735&chapterid=6704 |
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The site is probably maintained thanks to Chad Saylor, https://learn.saylor.org/mod/page/view.php?id=30734&forceview=1Plus I believe that informational material about Bitcoin's history and prehistory should be pinned by the Admins everywhere in the forum for everyone to be encouraged to read the facts, be educated/understand/get the context, and be more learned about what Bitcoin is truly about. Those early Linux users who were supportive of the Open Source movement/GPL would probably be the people who could associate themselves with early Bitcoin users. |
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Big surprise might probably be something that includes the Daily/Weekly wagering competitions. Increased prizes, for both players and voters, perhaps? Or new side-games/competitions to win extra free spins or bonuses?  It's obviously just a no-knowledge-guess. But truthfully, I cannot wait for that BIG SURPRISE! Another guess is it might be a new array of casino games? |
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Well, now things get interesting! We finally come back to what should have been the top at around 16500! As we all know the past 2 years was Tether's very own version of Willy Bot, but on steroids. It was always going to com out in the wash and now the DoJ/SEC on the case it looks like its gonna be [urhttps://www.youtube.com/watch?v=45elFFLgnEY]scrubbing day[/url] pretty soon...  So, will ~16 hold and become the new base for another speculative run up? I for one welcome regulation in the space. Yeah I know GUBBERNMENT BAD... but don't forget, the regulators are going after the scammy exchanges and ponzi schemes that are screwing retail investors - they don't care about you and your sovereign Bitcoin, you are not a criminal... right? Keep your corn off exchanges, use them to transact, respect bast practice for privacy and you get all the benefits of Bitcoin with assurances that nefarious actors can't screw you. How are YOU doing, sgbett. We really missed you. Did you notice that when you made this topic, Bitcoin was possibly near the absolute bottom of the current bearish cycle? You and Kwukduck from 2018 or 2019 have near perfect timing to be counter trading indicators. Plus how is everyone in Flat-Earther Land syncing their BSV "blockchain"? I heard that many nodes are having some problems downloading/validating a large group of 4GB blocks mined during October, 2022. But users don't need to run a full node, right? |
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I think surge regarding the price of bitcoin is something that is not "just" based on world economy. I mean sure it is impacted, there is no denying that and when the economy is terrible the price goes up because if fiat is terrible then it should be good for bitcoin.
But at the same time, we should not put the price of bitcoin depending just on that, there are many other things that it gets affected by, and it could be one of those that makes it. Like some great news of some big nation making it legal tender could make the price go up suddenly, even when economy hasn't changed, as you can see the world economy is the same, but that good news could make it higher. That type of things matter.
You didn't get the whole point, or didn't get the context. We're not talking about the "World Economy", we are talking about the Central Banks all around the world, and their financial policies. Because it's a fact that for Central Banks to control inflation, they have to reduce the money in circulation and tighten liquidity. Its effect will be lower demand, causing a deflationary cycle, which I said MIGHT happen this year. BUT Jerome Powell looks that he's going to chamge his mind from what he previously said in Jackson Hall. I thought he was going to be "a Volker". I might be wrong. He might pivot earlier than expected, and there might not be a deflationary cycle. |
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I believe the newbies and other mere plebs like me whogo into the topic should listen to the teachings of JuanJayGee. I may not agree with all of his teachings, but it's just because of personal differences/preferences. Ask JuanJayGee if the current levels are good to buy Bitcoin blindly, and profit by selling two years later. His answer will be YES, and I definitely agree.
For the best traders, they know how to have good timing in their entries to have 5x leverage, then have 5x the profit, but only the best 10% of traders in the market can do it. How can we plebs beat them in their own game if they are better capitalized that us, more skilled than us, and they have an army of their bots trading against you.
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No wonder why Nigeria placed top 1 for searching "how to buy bitcoin"  From what I understand, the Nigerian government is replacing or redesigning their "old" banknotes, rendering them unusable for physical exchange; essentially, making old banknotes worthless while making the exchange process much more difficult – so people are opting for cashless transactions. Isn't this an old trick used by the government to subject people with large sums of money to taxation? Plus research Nigeria's citizens opinions in their country's Central Bank "e-Naira" CBDC. Their people's trust in their own legacy financial system is so low, that they prefer using Bitcoin. Congratulations, you have experienced how to use bitcoin as a payment option when you can not use all the methods you usually use. You are lucky to be able to pay using bitcoin. You can spread the news to many places, especially those treated at the hospital. And when they do not have enough money but carry the money in a bitcoin wallet, they can pay through their bitcoin wallet. And the presence of bitcoin in society can significantly change them.
Because of the soaring distrust in their financial system, the Nigerian people will find a way to get paid in a more reliable form of money. Inflation in Nigeria is more than 20%. Although Bitcoin's price is volatile, it might be more stable to HODL Bitcoin than Naira. |
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Although I understand the debate that the U.S. Dollar's excessively high "privilege" might be fading away, saying that "the Dollar has no reason to be used" is an extremely flawed statement. It's not that simple.
It probably is true for sanctioned countries like Russia, North Korea, or Venezuela, but for the rest of the world, the U.S. Dollar is still the Global Reserve Currency that they are willing to spend/accept, willing to save/hold, and that's easy to obtain.
Do you honestly think a currency that has been getting printed without them caring about the consequences of the high inflation it is causing to all those countries that have it as "reserve currency" has a valid reason to continue being used by those countries? The questionable decisions of cabal behind the Federal Reserve is another debate for another topic. But the point is the demand for the U.S. Dollar among the economies that aren't sanctioned still have high demand of the U.S. Dollar. Why? Because of its spendabilty, saveability, and liquidity. The Chinese Yuan, the Russian Ruble, or any new fiat currency the sanctioned economies could issue in all three characteristics.
I don't think so. In fact from what I've seen no country in the world wants to use US dollar but the problem is that they are forced to use it. A couple of decades ago even Europe tried dumping dollar and get rid of it but they were whipped into submission and were forced to continue using it when US forced Petrodollar nonsense on them.
A lot of other countries over the decades tried dumping US dollar, they were also whipped into submission or got invaded and had their country destroyed.
Forced to use it or not, it's necessary to use it for international trade. Do you believe if Russia wasn't sanctioned, it would stop using the U.S. Dollar? Would Venezuela? I believe not. I'm not saying there's no threat to the U.S. Dollar. Merely debating that the threat is overblown. |
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Currently, the US dollar has no competitors.
CNY?
Euro?
Swiss frank?
US dollar also has no reason to be used. The replacement depends on who is trading with whom. If for example Europe is trading with Russia, they have no reason to use dollar. They use their own currencies (meaning both Euro and Ruble). Same with China. If it is the SCO members trading with each other they will use the currency that the organization comes up with. Same with BRICS. Obviously all of that won't happen overnight but we are heading towards that direction. Many European countries are already paying Russia in Ruble buying their energy (eg. LNG imports). Although I understand the debate that the U.S. Dollar's excessively high "privilege" might be fading away, saying that "the Dollar has no reason to be used" is an extremely flawed statement. It's not that simple. It probably is true for sanctioned countries like Russia, North Korea, or Venezuela, but for the rest of the world, the U.S. Dollar is still the Global Reserve Currency that they are willing to spend/accept, willing to save/hold, and that's easy to obtain. |
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Gold buyers binge on biggest volumes for 55 yearsCentral banks are scooping up gold at the fastest pace since 1967, with analysts pinning China and Russia as big buyers in an indication that some nations are keen to diversify their reserves away from the dollar. Data compiled the World Gold Council, an industry-funded group, has shown demand for the precious metal has outstripped any annual amount in the past 55 years. Last month’s estimates are also far larger than central banks’ official reported figures, sparking speculation in the industry over the identity of the buyers and their motivations. The last time this level of buying was seen marked a historical turning point for the global monetary system. In 1967, European central banks bought massive volumes of gold from the US, leading to a run on the price and the collapse of the London Gold Pool of reserves. That hastened the eventual demise of the Bretton Woods System that tied the value of the US dollar to the precious metal.Last month the WCG estimated the world’s official financial institutions have bought 673 tonnes. And in the third quarter alone central banks bought almost 400 tonnes of gold, the largest three-month binge since quarterly records began in 2000. https://i.imgur.com/VrRBcny.png“The message these central banks are sending by putting a larger share of their reserves in gold is that they don’t want to be reliant on the US dollar as their main reserve asset,” Menke said. Some in the industry speculate Middle Eastern governments are using fossil fuel export revenues to buy gold, most likely through sovereign wealth funds. The world continues dumping US dollar, I've already talked about India buying gold and many times about Iran accumulating gold over the past couple of years. Now we have evidence of the other Eastern powers buying large amounts of gold. Many other smaller countries that don't fall into the global geopolitics like Qatar, Turkey, Uzbekistan, some African countries, etc. are also accumulating more gold. This is the New World Order that is forming in front of our eyes, the old Dollar standard is slowly but surely going away which is causing high inflation in US as all the unbacked dollars they'd printed all these years are being dumped on USA itself and even higher inflation is seen in any country that is importing US inflation like Europe. Experts suggest that if US wasn't exporting its inflation, the real US inflation would have been somewhere north of 450% and that's where it's headed as the dollar dumping continues. I recently watched an analyst who suggested that this is World War 3 which will be fought (at least for now) economically. The East vs. West as the East dumps US dollar that strains US economy. China suddenly lets loose COVID on the world (this past 2 weeks) that is already showing an increase in EU and US. Oil price ends the year with the 2nd straight annual gain and the general high energy prices among other things is slowly rendering EU useless as an economy and industrial power. Although economy is not the only battlefield (we have energy, food and actual armed conflict between proxies) but it is affecting us the most. It is even affecting bitcoin price as it has successfully prevented its rise to higher ATH last year and even changed its bull trend and crashed the price below the previous (2017) ATH for the first time in bitcoin history. With that said, 2023 outlook is already bad economically speaking. How much of the points I raised do you agree with and how do you see 2023 specially when dollar dumping continues?Tin-foil hats on, but I would also like to inform the people in the topic that the Central Banks haven't purchased this amount of Gold since 1967, which is also said to have brought out the collapse of the Bretton Woods system, https://en.wikipedia.org/wiki/Bretton_Woods_systemPlus when Central Banks around the world hold this much Gold, they are targets for a more powerful state's military. New World Order is possible indeed. |
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I will not agree that we are out of bearish market until we have to reach june 2023, because their is every tendency that Bitcoin can rise today and fall tomorrow as i started previously in another thread as i stated. But i believe that Bitcoin if the bond is strong i will not say we are out of the bearish market
To play Devil's Advocate, the price may not be out of "a bearish cycle", but there are indicators that Bitcoin might go out of it soon, fundamental indicators.  HODLers are increasing, which also indicates that the sellers unburdening themselves from their "heavy loads" are absorbed by long term investors who are buying the DIP the sellers are causing. Those who are buying the DIPs during the bear cycle are the same people who are front-running everyone during the bull cycle. |
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Good news for the blackjack.fun community. Admin just made an announcement that Blackjack.fun has now a Rakeback system where people will earn everyday 20% of the rake back to their main wallet once the daily contests end. So this is now another big opportunity.
Those who are waiting for rakeback system, here it is now. So enjoy this for now and wait for another big news what would be come this or next week.
What does that mean "after the daily contests end"? Are the Admins changing the user-rewards system from community voting/leaderboards system that goes to the bonus wallet for clearing, to just a simpler rakeback/cashback system like many of the other casinos are doing? The rakeback system is a decision going towards the right path moving forward in my opinion. I believe there are many players, like me, who tried to clear the balance in their bonus wallets, and gave up. Kudos to the Admins! I meant when the daily contest leaderboards are paid the rakeback also will be right away. I meant the daily cut-off time for rakeback is the same as other contest times. I hope it's now clear to you. Btw I have already mentioned that the rakeback will go to directly the main wallet. So you can play/withdraw the rakeback right away without any wager requirements. OK, that's defintely good news. Thanks for posting in the topic. What 20% rakeback will start doing is incentivize the casino's users, and encourage them to play more, WHILE ALSO complementing the wagering requirements of the balances held in their bonus wallets. Kudos to the BlackJack.Fun admins who thought of the update. Diggy's Narnia will definitely need more lotion again. Sujonali, in the future, does Black.Jack.Fun have an interest to add the Lightning Network as part of their deposit method? |
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For safety from $5.00 wrench attacks, or any kind of robbery that involves violence, what's everyone's opinion in keeping away from purchasing, and owning any hardware devices that are directly associated with Bitcoin and other cryptocurrencies? I believe that it's going to be a problem when some people see you own a hardware wallet, the presumption would be = you own "a lot of Bitcoin".
The same reasoning can also be applied to credit/debit cards, leather wallets, and other "containers" of money: people who have or use them in public are clearly not that poor. Yet, we rarely see people being attacked just after paying at the checkout of a grocery store. Because they have grown to be very common in modern society. Especially the usage of Credit Cards today, they're more viewed as something that's holding debt to the banks than a status symbol. Perhaps 70 years ago when the first Credit Cards were issued to important clients, they were good targets for robberies. Currently, no. Credit Card holders usually have more debt than wealth. I'm debating because of the novelty of cryptocurrencies, and how some of its HODLers are probably in a path of accumulating wealth because they are HODLing the right coins. A smart criminal would target them, and one way to find that target? Hardware Wallets. |
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For safety from $5.00 wrench attacks, or any kind of robbery that involves violence, what's everyone's opinion in keeping away from purchasing, and owning any hardware devices that are directly associated with Bitcoin and other cryptocurrencies? I believe that it's going to be a problem when some people see you own a hardware wallet, the presumption would be = you own "a lot of Bitcoin".
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Currently, there are many of the "elites" in the legacy financial industry that views Chad Bukele and Chad Saylor, and disregard most of what they are preaching/teaching/saying/showing the public. BUT within 10 years, I believe that everyone will remember the two of them from the bear market of 2021 - 2023, and perceive that, as it happened, THEY might not be sufficiently bullish. |
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Good news for the blackjack.fun community. Admin just made an announcement that Blackjack.fun has now a Rakeback system where people will earn everyday 20% of the rake back to their main wallet once the daily contests end. So this is now another big opportunity.
Those who are waiting for rakeback system, here it is now. So enjoy this for now and wait for another big news what would be come this or next week.
What does that mean "after the daily contests end"? Are the Admins changing the user-rewards system from community voting/leaderboards system that goes to the bonus wallet for clearing, to just a simpler rakeback/cashback system like many of the other casinos are doing? The rakeback system is a decision going towards the right path moving forward in my opinion. I believe there are many players, like me, who tried to clear the balance in their bonus wallets, and gave up. Kudos to the Admins! |
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@windfury
you were trying to infer that FED actions were going to cause a BITCOIN SURGE
i first responded to correct your notions of how the fiat economy works. and in later posts that not only will there not be a bitcoin surge to the extents you imagine. but how FED actions doent imply/cause bitcoin surge reactions
i explained what does cause bitcoin surges
you then deviated to say none of your topic was about bitcoin economy but only fed fiat economy. which i then quoted your "bitcoin surge like its 2015-7" to remind you that you stated it was about bitcoin surging
Is Bitcoin in an open market or not? Because the presumption is, although debatable, the Federal Reserve, and other other Central Banks, actions, ARE going to cause the Economy and almost EVERY TRADED ASSET in most open markets to surge or crash. It's a simple monetary phenomenon. If they print more money in circulation, it causes more demand = prices go up, inflation goes up. If they tighten and take money out of circulation, it lessens demand = prices go down, a deflationary cycle will come. I will admit again, that a 2015 - 2017 surge, it's debatable, but if the presumption that the Federal Reserve will over-adjust AGAIN on monetary expansion is right, then it's very possible. |
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All I have to say on this matter is this won't end well for Bitcoin if this becomes a spam chain.
NFT's are a WASTE of time we are supposed to be focused on being MONEY not a "utility" chain for data.
Satoshi clearly said NO to data on chain when BitDNS was proposed.
I think this is a stupid concept and idea and should not get any attention let's get back to being sound money.. Nothing more.
While I do understand what your debating in your post, and I have just researched about the "OP_RETURN Wars" after reading it in NotATether's post, but I have the same question as those other Bitcoiners who may or may not believe that the Bitcoin blockchain should or should not be a "utility chain". What was the use of the OP_RETURN Wars if Taproot would allow people to put arbritary data in the blockchain again freely?
In other words people are exploiting Taproot for spamming bitcoin blockchain with garbage like back in early years where they placed it simply in the output script at any arbitrary size. Suffice it to say that that spam forced the introduction of very limiting standard rules that prevented such spams and the introduction of OP_RETURN with an 80 byte limit to manage the spam size.
In short all I see here is just an exploit of a protocol (Taproot scripts) that was not meant to be used this way so that they can inject arbitrary data that another self-defined and self-enforced protocol can detect and is not detected or enforced by the Bitcoin protocol. Like a side-chain jammed into bitcoin blockchain instead of having its own chain.
Or a new attack vector. It could be used in different nefarious ways, like bringing unnecessary, extra bloat to the blockchain, and perhaps also make people believe some Satoshis' "serial numbers" are worth more than a Satoshi, causing the currency to be not fungible. |
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The basic cryptocurrency trading indicators are good tools for market analysis but there result is also useless at some point so it's better to also have fundamental knowledge about the crypto market, and things that impact the market (an example is mining difficulty which always influences the price of Bitcoin market and its the thing the result to the current bullish in the price we see in Bitcoin market).
No, I believe they are not, especially if there's too many people who are looking at the same indicators, making their trades more "transparent" then therefore easier to counter-trade by the smarter traders. OP, I read your PM in my inbox. I believe the best strategy for us plebs is to make our investments by HODLing them very long term in mind. We make less mistakes, and some of the mistakes can be corrected through dollar-cost-averaging. But if you want a more active trading strategy, I suggest "Index Building". There was a Cryptocurrency Indexing Building site before called Panda Analytics, but it's currently down. Find an alternative, and post it in the topic if you find one. |
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Developed by Casey Rodarmor, he built Ordinals to give its users the ability to transfer individual Satoshis between each other by taking advantage of the Taproot upgrade, which can also store NFT data in Taproot script-path spend scripts. I'm still learning about it by reading and rereading this blog, https://read.pourteaux.xyz/p/illegitimate-bitcoin-transactionsn0nce, pooyah, and others who are technical/high IQ, please ELI-5 for the newbies and the plebs like me. Haha. Plus what's everyone's opinions/thoughts about Ordinals? This handbook is a guide to ordinal theory. Ordinal theory concerns itself with satoshis, giving them individual identities and allowing them to be tracked, transferred, and imbued with meaning. Satoshis, not bitcoin, are the atomic, native currency of the Bitcoin network. One bitcoin can be sub-divided into 100,000,000 satoshis, but no further. Ordinal theory does not require a sidechain or token aside from Bitcoin, and can be used without any changes to the Bitcoin network. It works right now. Ordinal theory imbues satoshis with numismatic value, allowing them to be collected and traded as curios. Individual satoshis can be inscribed with arbitrary content, creating unique Bitcoin-native digital artifacts that can be held in Bitcoin wallets and transferred using Bitcoin transactions. Inscriptions are as durable, immutable, secure, and decentralized as Bitcoin itself. https://docs.ordinals.com/introduction.html |
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