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21  Bitcoin / Press / Re: [2021-01-20] Janet Yellen suggests 'curtailing' cryptocurrencies such as Bitcoin on: January 25, 2021, 12:15:37 PM
Lets just hope that if a tighter regulation will be coming up it will be something that won't hurt the progression of the crypto industry.

it certainly might hurt the progression of the american crypto industry. that's one saving grace right now---they don't want to jeopardize future tax revenue from american businesses shutting down or moving abroad. the backlash from big companies like coinbase got the treasury department to delay passing the travel rule and self-hosted wallet regulations earlier this month. hopefully that develops into toned down language and better reporting thresholds when the regulations are eventually passed.

ultimately, the feds know the value of the american consumer/investor market, and they know that large crypto services are willing to toe the line in exchange for access to it. the new rules are gonna be bad (as the FATF travel rule already imples).... we can only hope they won't be that bad.

i'm going full p2p and DEX from here on out. the regulatory situation around centralized exchanges is rather ominous.
22  Economy / Service Discussion / Re: I did very serious mistake. Sent USDT to USDC address. on: January 25, 2021, 11:13:16 AM
please clear

it's should be m/44'/60'/0'/0/0 - we apply this and it's start like this m/44'/60'/0'/0/0/0 , m/44'/60'/0'/0/0/1 , m/44'/60'/0'/0/0/2 , m/44'/60'/0'/0/0/3...n

or it's should be m/44'/60'/0'/0 - we apply this and it's start like m/44'/60'/0'/0/0 , m/44'/60'/0'/0/1 , m/44'/60'/0'/0/2 , m/44'/60'/0'/0/3 , m/44'/60'/0'/0/4...n

which one please

the first one (bolded)---at least according to a moderator on coinbase's subreddit. we obviously can't verify from here whether it's truly the correct derivation path.

to the right of /1, /2, /3, etc should be the addresses/public keys/private keys you are looking for. if you increase the gap limit to 1000 or 10,000 and then search the page for the address you sent USDT to......still nothing?
23  Bitcoin / Bitcoin Discussion / Re: What happens if internet connectivity gets terminated on: January 25, 2021, 10:30:12 AM
Right now each and everything is connected with internet and technology. The future of banking might happen through blockchain technology and bitcoin in mass adoption. By that time what will happen with the banking process if there happens a termination of internet connectivity for few days time.

ISP connectivity problems will be mitigated by p2p mesh networks in the future. as mesh networking technology improves and becomes more user friendly, they will become more common and will make the bitcoin network much more robust. https://bitcoinmagazine.com/articles/from-isp-to-p2p-how-mesh-networks-take-bitcoin-off-the-grid

Quote
How mesh networks tie into Bitcoin is pretty straightforward. Currently, there is a reliance on the traditional ISP-controlled networks. Not just for Bitcoin but for most things on the internet. If a network is controlled by a central entity, it can be easily shut down or censored. A mesh network is resistant to parts of the network going offline, so peers can route their data around the parts that have gone offline. This kind of resilience is important for a system like Bitcoin because it means that transactions can keep flowing and miners can keep producing blocks. If you’re a merchant or a miner and your ISP decides to shut off your connection, you’re kind of screwed.

For using Bitcoin via mesh networks, the amount of data that needs to be transmitted could be its weakness. If you are in the Locha Mesh but you don’t have an internet connection or a satellite dish, you will need to get the latest Bitcoin block data from a peer in the mesh and the number of hops you may need to do and bandwidth will be key for you to accomplish this. If there isn’t anyone offering you this service, you would be isolated from the Bitcoin network itself.

Fortunately, the Bitcoin community doesn’t stop innovating in the network side of Bitcoin, so improvements like Erlay, FIBRE and more will make transmitting Bitcoin’s block data over the mesh achievable. You will still be able to pretty easily use your Electrum wallet within the Locha Mesh as far as you can reach an Electrum server that serves you with your wallet’s latest balance updates, or you could make offline signed bitcoin transactions, reach a push-tx gateway and then receive a message when your transaction has been added to a block.

blockstream's satellite service ties into this as well:

Quote
What the Blockstream satellite does is beam Bitcoin’s blockchain data and messages to Earth. You could use this service to get the latest transactions and blocks using a satellite dish on your rooftop and then transmit this important data to others through the Locha Mesh to allow people to transact in Bitcoin and the Lightning Network, even if they don’t have an internet connection. They just need to be inside the Locha Mesh and get the Bitcoin data from you.
24  Economy / Service Discussion / Re: I did very serious mistake. Sent USDT to USDC address. on: January 25, 2021, 10:11:58 AM
there is any way to find address directly ?

because it's still search 50000 address found , still more and more .

this is a derivation path issue. apparently, no 3rd party wallets support the new derivation path coinbase commerce uses. this guy wrote a script to deal with the issue but i don't believe it supports ethereum-based assets yet. https://github.com/scott-huson/coinbase-commerce-external-wallet-tool

Is the derivation path on BIP32 Derivation Path is m/44'/60'/0'/0
Quote
For ETH & ERC20 tokens, Coinbase Commerce has implemented a forwarding machinery, ensuring that all payments eventually end up at m/44'/60'/0'/0/0.
25  Economy / Web Wallets / Portis wallet on: January 25, 2021, 09:50:50 AM
i was looking at shapeshift now that they support no-KYC DEX trading.

if you don't have a hardware wallet, the only option is to use portis, a browser-based wallet owned by shapeshift. it looks kinda like metamask. https://www.portis.io/

has anyone used it? can anyone comment on potential security issues? i don't have a hardware wallet and i'm wondering how secure this would be on an iOS or PC browser.
26  Economy / Exchanges / Re: LiveCoin.net >Buy/Sell/Exchange>New pairs:BVK/BTC,APOD/BTC,KTETH/BTC on: January 25, 2021, 12:20:11 AM
So what to do now? Livecoin could be sued for negligence.

to what end? we can surmise they only have a small fraction of outstanding liabilities on deposit. and these guys are set up just like btc-e was---shell companies and servers in multiple jurisdictions, operated from russia ostensibly, registered in the UK, infrastructure in the USA. you really think you could find/sue these people and then actually collect?

i agree re the theory. i suspect several of these rinky-dink exchanges like livecoin are running fractional reserves.
27  Bitcoin / Bitcoin Discussion / Re: Hard to swallow pills about Bitcoin and Blockchain on: January 24, 2021, 11:52:36 PM
Are people really in the industry for the money? Is this the reason why adoption takes such a long time?

greed makes the world go 'round.

you've got it backwards---greed drives adoption. it may not be exactly the kind of adoption you hoped to see. i acknowledge there is much more speculative usage than p2p usage today. however, i am confident that as bitcoin's network effect grows and as users move on from their "get rich quick newbie" stage, that will change for the better.

i only arrived on the scene in 2013 because i thought bitcoin was going to the moon and i wanted to get rich. now i'm an avid user. it's a very important part of my life, my finances, my businesses, my social life. it's been a really liberating experience. i'm so excited that i have friends and family interested in bitcoin now---including some who will really benefit from its p2p economy.

people who expected bitcoin to be totally altruistic and non-speculative were always being unrealistic. everyone needs to just accept bitcoin for what it is. it isn't what you idealize. it simply is. it's something different to everybody, whether that means p2p electronic cash or digital gold, or something else, or everything in between.
28  Other / Beginners & Help / Re: US KYC Rules-Wallets & Mining Pools- Consequences? on: January 24, 2021, 11:26:55 PM
Do those proposed rules say anything about depositing to exchanges and other services that are subject to this regulation? Because as I remember, it was only about withdrawing to your address.

it's not about depositing to an exchange in this case, but withdrawing from a centralized mining pool, should they choose to comply with the proposed law. in that case, they would need to verify that they aren't transmitting cryptocurrencies to third parties (like exchanges) by implementing KYC on their miners and whitelisting withdrawals only to verified self-hosted wallets.

only from there could he withdraw to an exchange.
29  Other / Beginners & Help / Re: What happens to mining when we have reached 21 million bitcoins? on: January 24, 2021, 11:06:56 PM
This is something that will seriously concern us in the future. I was thinking it all the time and I conclude the followings:

1) The price of bitcoin will have been increased so much and the miners will receive enough profits from the TX fees.

2) The hashrate will decrease a lot because some miners' mining cost will hit their breakeven so they will stop mining and network will not be completely secured by 51% attacks. This may lead to price drop which will lead more miners to exit the mining business. I hope this never happens.

3) Bitcoin becomes digital gold so people who move coins there, they actually move serious value so they can pay the higher fees and award the miners for their job which is to protect the bitcoin network.

Guys this is just my opinion. I'm not completely sure if I missed something and if there will be actually a problem or not in the future.

you're exactly right---we don't know whether there will be a problem in the future. bitcoin's monetary policies are completely experimental. the economics that apply today while inflation is high will not squarely apply to the situation decades from now. we hope the transition to a deflationary currency will go smoothly with regard to mining security, but nothing is guaranteed.

one important issue to consider is the block size limit, which caps the available supply of confirmed transactions. this is the mechanism that causes fee competition among users---as demand for block space rises, fees also rise, which translates to higher revenue for miners. thus, it's important to consider that dynamic when considering whether the block size limit should be increased.
30  Bitcoin / Wallet software / Re: Does BRD mobile wallet on iOS support Segwit? on: January 24, 2021, 10:44:46 PM
Why are you using this wallet? I never heard of it.

it's recommended on bitcoin.org---high scores on all counts. i tested it on my iphone recently and i think it has very good UI. as mentioned above, BRD is a rebrand of bread wallet, which has been well reputed for years. i would recommend it, especially to those looking for a secure mobile multi-coin wallet.

To those who have been using BRD wallet on their iPhone, am I missing something? Where can I find my SegWit address? Or are they still supporting it?

they have supported bech32 since 2018. go to preferences > bitcoin settings and toggle from legacy to segwit.

I appreciate BRD's sending options but nothing can beat a customized fee.

yes, depending on your needs. i have found that simple priority fees are crucial for p2p trading and BRD's fee estimation is top notch, better than other mobile wallets i've used. when i'm on my mobile, my transactions are urgent. when i'm at home i use PC, so electrum + custom fee based on https://jochen-hoenicke.de/queue/ is optimal.
31  Bitcoin / Legal / Re: Crypto friendly countries, where and how to exchange your crypto with 0 taxes on: January 24, 2021, 10:19:46 PM
Spain should also have no tax on crypto iirc.

they don't have a specific tax framework for crypto. however, as with most countries, the spanish government says the current framework already applies: Spain's Tax Authority Sending Notices to 66,000 Cryptocurrency Owners

Quote
Sales of cryptocurrencies are subject to capital gains tax at a variable rate of between 19% and 23%, the publication detailed, noting that the higher rate applies to gains in excess of 50,000 euros ($54,594).
32  Economy / Exchanges / Re: Buying crypto with Zelle on: January 24, 2021, 10:05:47 PM

i don't think there is a stated policy. if you check those reddit threads, people have had zelle payments reversed 6 weeks after the trade occurred. that's why i don't touch payment methods like that---just like a bounced check, it can fuck you over months down the road.

But majority of these scams are actual people using their own bank account and saying zelle was fraudulent?  Or it was more they hacking someones bank account to do this?

i reckon some from column A, some from column B.
33  Economy / Gambling / Re: Bitcointalk poker series #2 hosted by Betnomi on: January 23, 2021, 10:02:58 PM
If you are VPN'ing. I suggest only playing Poker, and in reality if it's other than just a privacy concern I would only play the series. Just advice for avoiding any unpleasantness down the road.

You are required to input details under your profile before you can withdraw, but they aren't authenticated. In most situations I imagine playing strictly poker on their site wouldn't bring up any issues or flags for KYC, as compared to placing bets, unless it appeared to be a multi-accounting problem.

+1. i'm connecting through VPN, and was able to withdraw a couple hundred bucks without any KYC authentication. i agree about steering clear of betting if you're concerned about getting KYC'd.

it's up in the air at the moment, but i'm gonna try to make tomorrow's game. i'm not sure i'll be a contender in the series given my current schedule but i should definitely make a few games at least.

thanks to @yahoo and @betnomi for putting this together!
34  Bitcoin / Legal / Re: Cryptocurrencies Face Greater Oversight Under Gensler-Led SEC on: January 23, 2021, 09:47:58 PM
I don't know what his plans with bitcoin are but what he defined as "single-use" altcoins or tokens are going the way of the dodo bird.
https://www.media.mit.edu/posts/remarks-at-blockchain-event/

i didn't catch that reference and it didn't come up on google. what do you mean by "single-use" tokens?

Besides she is more like an altcoin mom, I see her more interested in ICOs than bitcoin.

that was only natural, given that bitcoin can't be defined as a security. tokens and non-mineable altcoins though---that space has got the SEC's name written all over it.

i do anticipate an altcoin bull run this year, but i suspect the combination of bitcoin 2nd layer functionality improving/taproot coming online + an SEC crackdown on altcoins/tokens will put a damper on it and move investor attention back to bitcoin.
35  Economy / Service Discussion / Re: BitPay -- KYC is here! on: January 23, 2021, 09:34:15 PM
As an interesting point. If you have the BitPay Mastercard you already gave them all the info they need about you.
So, if you have wanted to ability to spend crypto with a card, and get cash back at some places like I discussed in another post about the card, then you have already KYCd yourself to them.

Same with a lot of gift cards, if you use an app to redeem them for anything.

Think about it, I go to Bitrefill to get myself a DunkinDonuts card, if I add it to my app to order my coffee and donut then I have KYCd myself. If the government is looking for me it's just and extra step they have to go though. Same with Chipolte, T-Mobile, or just about any other card you get.

it depends on the app. if you're loading amazon gift cards onto your account, then yes, you've generally already been KYC'd. you're tied to a physical address and likely have registered other payment methods that can identify you.

lots of other retail apps (target, starbucks, chipotle etc)---dare i say, most---collect various PII from your device i'm sure, but they don't require any personal information to load and pay with gift cards. if you use them only in brick-and-mortar stores like cash and do not link your app/account to a physical address or payment methods, i don't think you've KYC'd yourself.

It would be nice to think that Bitrefill or any other organization like them is not going to hand over information, to the government, but lets be honest you can't be sure.

what information---the coins you used to pay for your gift card? your browser info?
36  Bitcoin / Press / Re: 2021-01-21 BBG - Bitcoin Plunge Has Newbies Scrambling to Google Double-Spend on: January 23, 2021, 09:19:32 PM
Double spend has a well defined meaning, so BitMEXResearch saying there was a double spend is wrong too.  If double spend means the second one above then every RBF is a double spend and their never was a "double spend" problem to solve.

in this case there was a block reorganization, so a confirmed transaction (1 confirmation) was dropped from the blockchain and a conflicting transaction was mined instead. that doesn't apply to every RBF transaction.

I agree that some people have used "double spend" incorrectly when they want to say "attempted double spend" or "attempt to replace one low fee transaction with another by spending the same bitcoins again in a higher fee transaction."

i generally agree but i don't wanna get into an argument about semantics.

fundamentally, a 1-block reorganization is very normal---so if everyone is putting all their trust in 1 confirmation, then we have a problem. this specific transaction may not have been malicious, but that doesn't mean these threats are not real:

Quote
Blockchain reorganization attack

Also called alternative history attack. This attack has a chance to work even if the merchant waits for some confirmations, but requires relatively high hashrate and risk of significant expense in wasted electricity to the attacking miner.

The attacker submits to the merchant/network a transaction which pays the merchant, while privately mining an alternative blockchain fork in which a fraudulent double-spending transaction is included instead. After waiting for n confirmations, the merchant sends the product. If the attacker happened to find more than n blocks at this point, he releases his fork and regains his coins; otherwise, he can try to continue extending his fork with the hope of being able to catch up with the network.

https://en.bitcoin.it/wiki/Irreversible_Transactions#Blockchain_reorganization_attack

maybe peoples' confidence in 1 confirmation should be shaken a little more...
37  Economy / Economics / Re: Will President Joe Biden be good for business? on: January 23, 2021, 08:55:21 PM
Looking at the gains recorded on the US stock exchange market after his announcement as the projected winner of the election shows the trust in him and his ability to enact policies that will help improve the economy.

the market rallied after trump was elected, and again after he was inaugurated---same exact thing. i would attribute that more so to political/election certainty being priced in (markets hate uncertainty!) than policy expectations.

Quote
Looking at the stretch between Election Day and the presidential inauguration, the market’s surge in the months ahead of President Donald Trump’s inauguration stands out. The S&P 500 rose 5.8% with Trump as President-elect.

The S&P 500 has risen in the first 100 calendar days of eight out of the last 10 presidential terms.

https://www.reuters.com/article/uk-usa-election-stock-performance-idUKKBN27R2NZ

there is also the theory that the stock market is in a bubble, and is gonna keep rising no matter what. we need to have a larger conversation about monetary policy to get to the bottom of that one. Tongue
38  Economy / Speculation / Re: Asteroid more value of precious metals worth $10kquad than the entire world on: January 23, 2021, 08:32:15 PM
This is cool, but I don't think anyone should base any sort of decisions on the fact that there are such asteroids. We're hundreds of years, if not thousands, from making such things economically viable, so just like the end of Bitcoin's block rewards, this will only concern future generations.

+1. if/when significant technological breakthroughs are made, and more importantly when those precious metals begin to hit to market, the market will price it in. i wouldn't be trying to speculate generations or hundreds of years out---that's a crap shoot. the markets won't be doing that. gold just hit a new ATH last year.

i still think bitcoin will take a big bite out of gold's share of the SOV market. i'm just not basing that opinion on the prospect of asteroid mining.
39  Economy / Economics / Re: MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’ on: January 23, 2021, 08:23:26 PM
Yeah, value investor my ass--at least Miller isn't being one in this case:



Note the P/E of 5048.  Usually, value investors don't chase stocks with P/E's as high as that.  Warren Buffet probably hasn't purchased a stock with a P/E higher than 18.  So yeah, MSTR is massively overvalued--even more so than the rest of the stock market right now.

in all fairness, their assets (bitcoin holdings) represent intrinsic value, and that is being reflected in the share price---just like it would be in a bitcoin ETF.

those holdings aren't reflected in earnings, obviously. any public company that invests in bitcoin is going to have the same skewed P/E dynamics. if bitcoin treasuries become commonplace, we're gonna have to rethink the usefulness of P/E.
40  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Which Crypto Exchange has this type of feature? on: January 23, 2021, 12:41:51 AM
Binance unfortunately offers it only in the FUTURES market and not in the spot.  The photo below is the order that you can give on Futures market on Binance and I want the same exactly but for spot. Do you have an idea which Exchange offers that for the spot market?

binance does offer them for spot trading, but you may not have noticed them. on the left of your trading panel there should be simple orders ("limit" and "market"). on the right, do you see a dropdown menu for advanced orders? that is where OCO should be located:



https://www.binance.com/au/support/faq/360032605831-How-to-Use-OCO-One-Cancels-the-Other-Order-Type
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