Bitcoin Forum
November 01, 2024, 12:38:49 AM *
News: Bitcoin Pumpkin Carving Contest
 
  Home Help Search Login Register More  
  Show Posts
Pages: « 1 ... 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 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 ... 1191 »
1881  Bitcoin / Bitcoin Discussion / Re: People are too focused on history repeating itself on: November 05, 2023, 09:11:23 AM
When analyzing the market and history one should look at the reasons for every event.
That's because history doesn't repeat itself, instead the same events have the same results. For example in the first 10 years of bitcoin, the global economy was not the same as in the second decade (ie. today). So something like halving, some positive adoption news, etc. had a similar and positive effect.

Now the same thing happens again meaning something like halving, some positive adoption news, etc. will have a similar and positive effect.
However, that is not the only thing affecting the market. As I said the global economy is different and it significantly affects bitcoin market.

Now you have to also consider the recession accompanied by inflation and the effects all that is going to have on bitcoin.
That is why in 2020 with the Pandemic and the recession we saw the strong bull run that were supposed to get bitcoin into 6 digits realm stopped abruptly and gave its place to a bear market.
BTW I don't put too much thought into something like FTX collapse. These things never have any long term effects on the overall trends. They only create chaos in short term.

The upcoming halving is going to be the same as before. However we should now consider the effects of the ongoing recession. Without interest rates coming down we can only see a small bull run. With lower interest rates on the other hand, we can see a massive rise unlike any previous rallies because of the accumulated potential.
1882  Economy / Economics / Re: Is energy prices about to shoot up? on: November 05, 2023, 08:33:40 AM
The UAE showed its civilized face and chose to side with Israel.
One of the good things in every conflict is that the weasels show their true faces. Although it was not a surprise to know all dictatorships like UAE stand with the terrorist organization but making it clear as day is good news. Of course this all makes the next step easier, which would be the consequences of supporting terrorism, sending fuel for the bombers of Gaza and arms to be used in ethnic cleansing of Palestine.

will be able to become an element of stabilization of the oil market. 
Sending fighter jets, bombs and fuel for tanks and aircraft used in bombing civilians is not going to have any effect on the global oil market whatsoever. If anything it could decrease the global supply (as part of the supply is now going to "fuel" war) and could destabilize the market even more.
1883  Bitcoin / Bitcoin Discussion / Re: WHAT'S SPECIAL ABOUT THE UPCOMING BITCOIN HALVING 2024 on: November 05, 2023, 06:50:51 AM
The big difference in this cycle as opposed to the last is that the largest exchange isn’t using people’s funds that were earmarked for Bitcoin to pump up shitcoins. I believe if it wasn’t for SBF and FTX, we would have seen a six figure BTC in 2021. That is a lot of pent up bullishness that could be unleashed over the next 24 months…
FTX collapsed in 2022, not in 2021 so what is your point here?

Did you want to say if FTX and SBF did not play their pump games with shit coins, more capital will choose Bitcoin to pour into it and Bitcoin will get benefit with higher price?

I don't know because there are always many shitcoins created and pumped in each bull run but they depends on Bitcoin bull run as a condition for their shitcoin manipulations. Without Bitcoin bull run, the cryptocurrency market is bearish and no developer, no exchange team can pump their tokens.
Exactly. There is always someone pumping some shitcoin and whenever bitcoin price starts rising up there are more of such people trying to make more money by pumping shitcoins that are easy to pump! It is not necessarily taking any money out of bitcoin market specially since a lot of them buy bitcoin first and then use those coins to invest in shitcoins not with fiat directly. In fact they do it to increase the amount of bitcoin they own at the end.
1884  Bitcoin / Bitcoin Discussion / Re: WHAT'S SPECIAL ABOUT THE UPCOMING BITCOIN HALVING 2024 on: November 05, 2023, 05:02:22 AM
-ETFs and institutional interest
-Bitcoiner politicians
- Interest rate pivot
The first two aren't significant in my opinion, specially the second one considering we have only had some "candidates" try to namedrop bitcoin to get some attention from certain communities like this one. Otherwise majority of them aren't actually "bitcoiners".

The only major thing is the interest rates. It is a weird situation too. They can't raise them any more since interest rate has lost its effect on controlling the rising inflation and they can't decrease it either because it would shoot up inflation. But the moment it drops, bitcoin can start shooting up with much less resistance because the money that had exited the market would come back.
1885  Bitcoin / Bitcoin Discussion / Re: Compilation of fake/unsolvable puzzles/challenges on: November 04, 2023, 06:12:42 PM
Quote
It takes a higher computational power to reverse the private key to public key operation or compute private key from signature.

I think it’s a typo mistake here, reversing or decryption of this key pair will actually be public key back to the private which is the encryption
I'm talking about the Elliptic Curve Point Multiplication operation where you compute the public key from private key. This is irreversible. Or in another words you need an impossible amount of computational power to reverse the "private key to public key" operation.
In technical terms that is to solve Elliptic Curve Discrete Logarithm Problem or ECDLP for short.

You are also using the term "decryption" wrong. Decryption demands a cipher text (encrypted message using a password).
1886  Bitcoin / Bitcoin Discussion / Re: Compilation of fake/unsolvable puzzles/challenges on: November 04, 2023, 03:18:15 PM
ECDSA is an encryption algorithm,
ECDSA is a signature algorithm. SA at the end stands for it too: Elliptic Curve Digital Signature Algorithm.

Quote
specifically an asymmetric algorithm which uses two keys which is the private key for encryption and the public key for decryption, this also requires a higher computational power to decrypt the original input.
It takes a higher computational power to reverse the private key to public key operation or compute private key from signature.
1887  Bitcoin / Bitcoin Discussion / Re: Bitcoin Mining with the use of Natural Gas on: November 04, 2023, 02:53:49 PM
More countries with natural resources should do this. In many of these fossil fuel extraction processes there is a lot of wasted energy (like the gas flares) that can be harnessed with enough investment and turned into electricity and obviously be used to mine bitcoin which would cover the cost of that initial "investment".
I hope such proposals don't just remain among candidates and start being discussed at serious levels among those that are already in office.
1888  Economy / Economics / Re: Is energy prices about to shoot up? on: November 04, 2023, 07:03:18 AM
after Friday this battle could be entirely different, from genocide of Palestinians halting abruptly all the way to US aircraft carriers sinking to the bottom of Mediterranean sea.
First to understand the significance of the Fridays speech by the Hezbollah leader it's enough to say that during the hour long speech that an estimated 3 billion people  across the globe watched simultaneously, there was a deafening silence and ceasefire in West Asia.

I don't want to get into the details of what was said because it would turn this into a military and political topic. But the part that involves economy is both good news and bad news:
- Good news: despite the speculations over the past couple of days this was a very calculated speech that outlined the situation precisely and left every possibility open as operations will continue happening and expanding but without entering the new phase of the war which is a significant expansion and heavier attacks.
In fact oil price even reacted to this by going down a little which is good news for economy.

- Bad news: is that the conflict is expanding at the same pace as before since the genocide has not stopped and United States regime is desperately trying to keep the carcass of Israel alive. After the speech yesterday we have the simultaneous attack on Israeli and American positions from 5 fronts. In decreasing order of intensity: Palestine (Gaza and West Bank), Lebanon, Yemen, Iraq and finally Syria.

On another news we have Algerian parliament passing a law that unanimously voted to support Palestine militarily. This allows President of Algeria to enter the war against Israel if he chooses to. To understand the significance of it specially on economy you have to look at where Algeria is located. That is another strategic chokepoint, Strait of Gibraltar, which is another access point Europe has to open seas for trades. If the war expands it will also affect the international trades going through this strait which has a significant effect on the economy.

This is also significant regarding energy price and shortage. Algeria has acted as one of the sources to cover part of the EU gas shortage after Russian exports to Europe decreased. They exports most of their natural gas to Europe through 4 LNG terminals and the Trans-Mediterranean pipeline. If we enter this phase, a "gas embargo" on Europe is a possibility.

1889  Bitcoin / Bitcoin Technical Support / Re: Derivation Path on electrum on: November 04, 2023, 05:58:30 AM
If i do lost the access to this wallet, and I put the seeds on other machine to recover my wallet
The thing about Electrum mnemonics is that unlike BIP39 they have a hidden version inside of them that tells your wallet what type of addresses and at what derivation path to derive from the seed. That means you do not need to know this two important information (address type and path).

So if you use another Electrum software on any other device or if you use another wallet software that supports the same algorithm (like Bluewallet) it should derive the correct addresses for you without needing any additional steps.

However if you want to know the derivation paths, here they are:
Standard: m/0/
SegWit: m/0'/0/
2FA (legacy and SegWit): m/1'/0/

I believe change addresses are derived at /1/ instead of /0/ meaning for example SegWit change address is derived at m/0'/1/
1890  Bitcoin / Wallet software / Re: GUIDE:Important factors to take into account while choosing a wallet on: November 04, 2023, 05:35:03 AM
My question is whether just looking at the availability of features such as open source before looking at other features including the Replace-by-Fee and Sign and verify a message features without paying attention to the authenticity behind the mask of open source is dangerous?
I say when choosing a wallet there are certain red lines that you don't want the project to cross and if it does, you won't choose it. If it doesn't, then you can start thinking about maybe choosing it. In other words you eliminate the undesirables then choose the best option from what remains.
For example if a wallet is closed source, that is a red line so it is not even considered even if it has all the features in the world.
1891  Bitcoin / Development & Technical Discussion / Re: implement by myself my own function signing the transaction on: November 04, 2023, 05:28:35 AM
Why even use random? Signing operations haven't used random key for ages, the ephemeral key used in signing is created deterministically that would eliminate all the concerns other users raised. The right way of doing it is using RFC6979 which is also used in Bitcoin in ECDSA. If you don't want to implement that and if your goal for implementing this is just testing stuff then at least use a simple KDF or at least a simple HMAC to derive the ephemeral key using the (message hash + private key).
1892  Economy / Economics / Re: Is energy prices about to shoot up? on: November 03, 2023, 11:06:13 AM
but President Biden's latest statement about a "humanitarian pause" marked a shift in the position of the White House. 
Unfortunately I don't think this statement is indicating the end or any kind of serious ceasefire. The goal of this statement is purely to affect what Hezbollah is going to say and do at 15:00 (local time) today, which is the deadline Hezbollah dictated. I bet the video released as a reminder of how they easily attacked Sa'ar warship back in 2006 had a significant effect.
How much does an aircraft carrier like USS Ford cost? $13 billion + cost of 50-60 aircraft + 4500 personnel? That's enough dissuasion.

After all it all comes down to the costs. US Senate just approved to waste more than $14 billion of taxpayers money on Zionists! That's on top of the billions they are already paying Israel. I already covered the effects on energy market.
I'm sure those in Washington can come up with a much better and more detailed version of what I posted here that covers more than just CENTCOM region. After all United States is at war with the rest of the world, the costs is so much higher that what I can cover inside one post:
The proxy war with Russia, the proxy war with China, the proxy war with Iran, proxy wars in Africa and now an actual armed conflict they are caught in inside a prison called Gaza.

The cost is not only economical. US military is getting the worst of it, specially after yesterday where they sustained largest losses over the past 28 days.

On top of it all we also have Russia advancing in Ukrainian soil because US literally pulled everything back from troops and proxies to weapons they were supposed to use to stop Russian progress!

but boy oh boy if you called any if you called any Israelis terrorists in the US you'd probably be called an anti-semite and so forth,
Yeah.
The absurdity of it is that the 9000+ Palestinians who were murdered by Israel over the past 28 days are Semites too!
1893  Economy / Speculation / Re: BTC Sentiment Poll for November on: November 03, 2023, 06:13:24 AM
I voted for Bull Market but I think we are in the sideways market (no options for that in the poll) at least for now between $30k and $35k which means it is possible we continue seeing this range for the next week or two. The world is just too chaotic right now to speculate anything specially now that US is printing billions more for more wars across the world the combined inflation and recession throws all markets in chaotic mode.
1894  Bitcoin / Development & Technical Discussion / Re: Researcher Claims to Crack RSA-2048 With Quantum Computer on: November 03, 2023, 06:05:47 AM
We all knew this day was coming sooner or later
You mean the day when someone claims they may theoretically crack a cryptography algorithm? That day came thousands of years ago when the concept of cryptography was introduced. Wink
1895  Economy / Economics / Re: Is energy prices about to shoot up? on: November 03, 2023, 05:03:18 AM
I am far from justifying what Hamas did, but crime is not answered by committing even more crimes.
I'm curious whether you think when Ukrainians attack Russian invaders in their own homes they are also committing crimes? If not then why do you think Palestinians attacking Zionist invaders in their own homes is a crime?

without the intervention of some external factors, I do not see that this conflict can last longer than a few months, when Israel will very likely take full control of the Gaza Strip.
Actually without the intervention of United States this conflict would have ended more than 10 days ago. The Zionist regime would have been forced to stop the genocide and release thousands of men, women and children being tortured in their prisons and stop the settlements from expansion. Now the Israeli terrorists have to answer for the 8000+ civilians they've murdered.

The reason I say it would have ended in first days is that internally Israel has been falling apart (it's the 8th decade curse). If you followed the news over the past couple of years you could see how things have been progressing. For example each Zionist "government" could barely last a year before falling apart and being replaced. Or the fact that over the 40+ weeks leading to October 7 there has been mass protests against the regime by Israelis every day since they too consider their prime minister to be a criminal who needs to be hanged. Most important of all was the armed forces that had completely fallen apart as everyone was abandoning their posts.
From early days US military officers entered the occupied Palestine and took over the Israeli military and started the operations. As I said in my last post US troops are also in the front line attacking Gaza from land.

Interestingly enough they could not move an inch into Gaza without massive casualties so far! In other words it is not possible to "take full control of Gaza Strip" ever. And that's without the other arms of the Resistance intervening.
In about 8 hours the face of the battle can change entirely Wink

I do not want to give an ideological coloring to the Palestinian issue, but it cannot be overlooked that the Palestinian people are predominantly Sunni Muslims with Christian and Jewish minorities.
It is interesting to know that ideology is only part of it, Iran's policy that is also in the constitution is "helping the oppressed". For example Venezuela is not even an ideological country and Iran has greatly helped the country specially after US that controlled lots of infrastructures in Venezuela (like the electrical grid) left the country and sabotaged everything behind them. It was Iran that helped rebuild the electrical grid, reactivate the sabotaged power plants, etc.

Or the massive amount of gasoline Iran sent to Venezuela to help the energy crisis that had halted all transport there was after US not only sanctioned Iran heavily because of that help! but also after US even threatened to attack or seize these tankers!
https://www.aljazeera.com/economy/2020/12/6/biggest-iranian-flotilla-yet-en-route-to-venezuela-with-fuel
That is in addition to the Venezuelan refineries that US sanctioned and sabotaged to cripple this Latin American country was fixed and brought back online by Iran.

It doesn't stop there either. There are loads of examples like this.
1896  Bitcoin / Bitcoin Technical Support / Re: Technical aspect of bitcoin. on: November 03, 2023, 04:31:59 AM
And how would knowledge of programming help (or will help) the OP or any other user who wants to become an expert in the technical aspects of the bitcoin? The source code of the bitcoin remains unchanged and will remain so in the future. I think this can only be useful and interesting as a hobby or as a professional curiosity. Programming can help you understand the contents of a bitcoin, but what practical use will it be? It seems to me none. 
If you know programming you will be able to read the code and have an easier time understanding certain concepts like the way the cap is enforced by halving the block reward all in the code, how the cryptography is utilized, how the FORTH like bitcoin smart contracts operate, etc.

As for the source code, it is constantly changing and improving. What doesn't change or rather rarely change is the consensus rules. Otherwise if you check out any Bitcoin project's source code you can see they are very active. Example: Bitcoin Core has almost 40k commits last of which was 8 hours ago. Electrum has almost 17k commits last of which was 10 hours ago.
If you know programming you can always contribute to these projects or start a new one that can help the community grow, whether a free and open source tool or something that you can monetize like a DEX.
1897  Economy / Economics / Re: USA: 50 years since the beginning of the oil embargo on: November 02, 2023, 03:25:53 PM
it was announced that the United States is about to become the main producer of oil and gas on the planet, leaving behind the current champions - Russia and Saudi Arabia.
What do you mean by "main"? You know that US is the biggest consumer of energy and currently despite the high production, they face a deficit of about a 7 million barrels of oil per day. They cover that huge deficit by importing oil from mainly West Asia.

Because of this massive consumption and deficit US can never become a major global supplier. The reason why you see a country like Saudi Arabia export this much oil is because they have a tiny domestic consumption (3 million bpd I believe)!

I think everyone has long forgotten about this story, but after it the United States began to accumulate oil reserves.
You mean the Strategic Oil Reserves?
Over the past year because the oil production by OPEC in general and also oil exports to US has decreased, that has forced them into releasing their strategic reserves at about 2-3 million barrels per day to cover the difference. It is currently sitting at its lowest.

I did some calculations a while back that if I recall it correctly those reserves at best case scenario (no embargo) would last us less than a year. But in case of an embargo (7 million deficit) they would last about a month or two considering the ridiculously huge oil consumption by United States which is between 19 to 20 million bpd.

Another problem is that the oil US has which they are extracting is also running out! At this rate of extraction it will only last 3 or 4 more years. As you may know, when you tap into these resources their extraction becomes harder. In other words if today they are extracting something like 12 million bpd, next year they will be able to extract less like 9 million bpd because of pressure drops and other complications as it reaches the end.
That means the 7 million bpd deficit would grow even bigger.

The situation in the world is very difficult now, but do you consider repeating such a scenario in 50 years?
You mean the embargo? It's hard to say but right now I'd say the chances are little to none. If things take a turn for the worse it is possible though.
1898  Bitcoin / Bitcoin Discussion / Re: Do you track bulk Bitcoin transactions being carried out by whales? on: November 02, 2023, 03:14:03 PM
On Twitter, there are some accounts that do this, and you can activate notifications if you want to follow such updates, but you cannot use them to predict the price because most of these deals are done OTC and at a price that may be different from the spot market, but sometimes tracking withdrawal may give a warning that an exchange has a problem. Or it was hacked and this happened rarely, so trying to track it with simple tools like this would not be a smart idea.
OP asked about on chain transactions to move bitcoin from one wallet to new wallet. I guess OP did not ask about deals to trade bitcoin between traders and sellers. You provided a correct information that whales can do their trades through OTC market but it is not OP question.
It is related since OP also asks about its effects on the price. Considering many "big players" do their trades away from centralized exchanges (OTC trades) you can say that it does not directly or significantly affect the price regardless of the size of the coins that were moved. That's because the price is mainly decided on centralized exchanges and when a whale trades elsewhere they don't really move that market.

Imagine if you contacted me on bitcointalk and sold me 1 million bitcoin and I sent you $35 billion wire transfer!! That won't affect the market at all. But imagine if you had sold 1 million bitcoin on the 4 top exchanges (Coinbase, Kraken, Bitfinex, Bitstamp). That would easily crash bitcoin to $20k levels.
1899  Bitcoin / Bitcoin Discussion / Re: fudster guy saying bitcoin is not viable because there are too few available on: November 02, 2023, 02:55:18 PM
That's a pretty mild FUD compared to much crazier stuff some people have spread over the years against bitcoin, some of whom were famous (like Elon Musk) so their FUD had "weight" too. If you get hanged up on every little FUD, you'd end up going crazy.
Try to debunk their FUD wherever they say it if you can and move on.
1900  Bitcoin / Bitcoin Discussion / Re: Do you track bulk Bitcoin transactions being carried out by whales? on: November 02, 2023, 06:52:02 AM
Do you track bulk Bitcoin transactions being carried out by whales?
No!

Quote
Do you feel it has good impact on Bitcoin  prices and a regular trader can benefit from this data.
Not really.
Technically when large amount of bitcoin is transferred on-chain, it has absolutely no effects on bitcoin price. However, where those coins are going and/or what the FUD says about it can have a considerable effect.
You see, we can't know if a coin is moving to an exchange or not for sure and even if we did we still wouldn't be able to say if it is going there to be sold or not to affect the price.
But if enough FUD comes out that can affect the weak hands into making an irrational move (panic buy or panic sell) it could affect the price.

Honestly I don't remember any cases that a silly news like this (usually coming from whalealert and garbage groups like that) had any significant effects on the market.
Pages: « 1 ... 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 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 ... 1191 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!