What about NFTs stored inside the Bitcoin blockchain? Ordinals is causing a huge stir but relative silence on the forum about it. NFTs Coming to Bitcoin Sparks Handwringing About Crypto PuristsNothing triggering about that headline at all  I don't blame anyone here if they're against it. I'm kind of on the fence about it personally. But it seems to be happening whether anybody likes it or not. - An NFT implementation which embeds NFT content in Taproot witnesses, assigning them to the first sat of the first output of the transaction, "inscribing" that sat with content
Super interesting to watch the discussion over this bullet point in particular unfolding on Twitter as it now appears to be possible to upload several KB (theoretically up to ~4 MB) worth of data to the blockchain for the purposes of on-chain NFT storage. https://ordinals.com/inscription/69d500051f9a0812ed41798eeb06d4af93349529480c23e9cf1ef0ccb2a921a8i0On one side you have lukedashjr calling it an attack on Bitcoin and Adam Back calling for transaction censorship by miners; on the other side you have Peter Todd calling the "freakout" about ordinals "stupid" and reminding everyone that adding non-standard transaction data to transactions has always been possible. It has reinvigorated the age-old debate of "appropriate use of block space," what "blockchain spam" entails, and whether Bitcoin should be used to store data not related to the actual transaction of BTC (for financial purposes). Here is a brief overview of how it works as far as NFTs are concerned: https://read.pourteaux.xyz/p/illegitimate-bitcoin-transactions... Almost zero mentions of this debate here, so let's mention it. As much as I completely loathe NFTs and everything that surrounds that scam ecosystem, I don't see any problem if people want to store that related data in the Bitcoin blockchain. You still have to pay for it, after all. Peter Todd is correct. That capability has always been there in the blockchain, and like honey badger it gives exactly zero fucks as to what people do with that data storage. Isn't it a tiny amount of data storage anyway? And if the Bitcoin devs really see a potential problem/exploits with it down the road, I'm assuming that in a future release it can be either be reduced or eliminated? |
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OT: https://news.yahoo.com/five-police-officers-were-fired-192741747.html?ref=upstract.comI normally wouldn't post things like this here anymore, but I'm so fkn mad right now. The hypocrisy here is just... I have no words.  I seem to recall an entire nation laid completely hostage one long summer (during the height of Covid, no less) due to mass riots, burning buildings, etc. over a certain person who died like this. Rioters took control of the entire city of Portland, OR for months and months. Well I guess they only mass riot, vandalize, and burn buildings when it is a bunch of white cops doing the killing instead of POC cops, huh? Funny how that works. Nary a peep of this on the major MSM news channels. Unbelievable. |
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Love your job or profession but always keep this thing in mind. You must always have time for your family and friends. Have a nice new week.  Image from @msqueen_vee twitter. Lol, what is this? The WO is a place for bitcoin maximalist, alpha males. Your teenage girl quotes belong elsewhere. The WO used to be so good in the old days. This thread quality stinks these days. Haha no shit. Made me laugh. That shitpost is the same type of inspirational garbage that some family members feel the need to spam my FB feed.  We need to get back to this:  |
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All this needs now is a Kiffness remix with the head-banging cat overlayed, and we'll have the new Bitcoin bull run theme song.  |
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If I have to describe in one sentence the price action in 2019 and 2020 it would be "The battle for 10K". I'm just curious which will be the new 10K for 2023 and 2024 - 30K, 40K or even 50K? My guess is 40K.
My guess is $29,900 will become the new $9,900. It'll go sideways for what seems like forever, teasing > $30k only to get squashed down over again and again. But it'll still be a good thing, because On Like Donkey Kong. Hmm, we're already at $23k. I'm really curious if, when and at which price-range "the battle" will play out, it might give a good hint ot two about where we will be heading in 2024/25. Yeah we're at $23k already, but it's straight up. I feel like this is just whales coming back into a market they completely dropped out of in November, pumping major leverage back into the float and squeezing short positions. The volume is still quite low. That is how it always starts anew, a big swing up, followed by a correction and then a ridiculous amount of sideways. Then they accumulate forever on sideways using leverage. At least that's how Bitcoin bottom reversals always have been in the past. I'm doubting that it's "different this time." But if it goes to ~$40k and settles there instead, I definitely won't be disappointed. |
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If I have to describe in one sentence the price action in 2019 and 2020 it would be "The battle for 10K". I'm just curious which will be the new 10K for 2023 and 2024 - 30K, 40K or even 50K? My guess is 40K.
My guess is $29,900 will become the new $9,900. It'll go sideways for what seems like forever, occasionally teasing > $30k only to get squashed down over again and again. But it'll still be a good thing, because On Like Donkey Kong. |
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I've got a feeling demand for these are going to be epic  Last year was the year to short bitcoin, crypto, and damn near anything else. A killing was made by WS doing that (Thanks, Fed). This year? Probably not so much. Probably suicidal. Markets will pump on mass layoffs news, every single time. |
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***CRYPTO FIRM GENESIS IS SAID TO PLAN BANKRUPTCY FILING*** News from Bloomberg:
Crypto Firm Genesis Said to Prepare Bankruptcy Filing This Week
The crypto lending unit of DCG could file as soon as this week
Turmoil left Barry Silbert in a public battle with Winklevoss
By Rachel Butt and Olga Kharif
(Bloomberg) --
Genesis Global Capital is laying the groundwork for a bankruptcy filing as soon as this week, according to people with knowledge of the situation.
The cryptocurrency lending unit of Digital Currency Group has been in confidential negotiations with various creditor groups amid a liquidity crunch. It has warned that it may need to file for bankruptcy if it fails to raise cash, Bloomberg previously reported.
Representatives at Genesis Global Capital didn’t immediately respond to requests for comment. A representative for DCG declined to comment. Talks are ongoing and plans could change, the people added.
Financial pressure at Barry Silbert’s DCG began to emerge after the collapse of hedge fund Three Arrows Capital. Genesis suspended withdrawals in November, soon after crypto exchange FTX — where Genesis held some of its funds — filed for bankruptcy. The failures have had ripple effects on crypto exchange Gemini Trust, run by Cameron and Tyler Winklevoss. Gemini Earn — a service that let Gemini’s users get yield for lending out their coins through Genesis — stopped redemptions as well.
Creditors, Genesis and DCG exchanged several proposals, but have so far failed to come to an agreement, the people said. Kirkland & Ellis and Proskauer Rose have been advising groups of creditors.
DCG told shareholders that it’s suspending quarterly dividends in an effort to conserve cash, according to a Jan. 17 letter to shareholders seen by Bloomberg
Well of course, all of Barry's wealthy friends all got out during the run up. Left the plebs holding the bag. |
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Yeah, they'll counter that they have Ubuntu running in a VM on it Seriously though if one needs to run a Mac application - for example for the job - I get it, as the other way around (running MacOS in a VM on a non-Apple host) is close to impossible. True. But when I was an IT consultant, the irony was that all the devs I knew that had Apple laptops had to run a VM with Windows for their job, because every client required it for security and network access. All their dev client tools were Windows based. And they spent literally all day long in that Windows VM doing coding, db stuff, and even emails/meetings. And to use their Apple laptops at work, many had to jump through extra hoops to get special permission from the client's security/network team to get their Apple laptop approved. Many times the client would just say, "Nope. Not gonna happen." and issue them an approved Windows laptop for development. So what was the point of running an Apple laptop then? They never wanted to admit it was just some sort of weird flex, or easy sync with their iPhones. Apple laptops aren't even that great anymore. Apple cult fanboys are the worst. They will justify anything. |
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Rumours are brewing that Apple has begun scanning your local harddrives for images (or possibly other data it deems inappropriate): Apple Has Begun Scanning Your Local Image Files Without Consent From personal experience I already know that Microsh*t is scanning every mail you send or receive and every webpage you visit in real-time. Then again, if you have nothing to hide - you have nothing to worry - right? A self-professed hacker who runs an Apple laptop and macOS, instead of a customized/secure Linux setup, is not a very wise hacker in my book. Just sayin'. Also a side note: I never store any photo images or important documents to local disk. External backup drive w/ USB cable only. Gets connected for file transfer or browsing, then disconnected from everything when not needed. Easy peasy security lemon squeezy. |
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It's amazing to me how the Average Joe public doesn't see how neatly controlled and managed our world markets are. After the amazing up year in markets during 2021, this year the Fed flipped into rate hike mode precisely starting in January (supposedly to "tame inflation"), and now inflation looks tamed...precisely by end of December. All neatly within the same calendar year. Gee, how precise. Much managed. I imagine that Jerome Powell has a sign hanging in his office. On one side it says "Up year" and on the other it says "Down year". He flips the sign over every new year on January 1st when needed. And sends a photo snap to all the Wall Street insiders.  With all the bullish MSM sentiment lately just 17 days into the new year, it looks like Powell flipped his sign this year to "Up Year". I guess that's good for all markets though, including bitcoin. "A rising tide lifts all boats." |
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Whales currently trying to plan the kickoff of their next Bitcoin bull run...  |
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PSA: As much as I like a good rally, don't fall for the obvious bull trap.
Bart setup is bart.
Just look at the low, pathetic volume. Seriously, just look it.
We are sideways until the REAL volume comes online....which could be a year away.
You have plenty of time to continue DCA. Plenty.
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$20k before Feb 1, who else can feel it?
CPI tomorrow, if data good yes, else no. Meh, they got their thumb on all the markets rn. I think we've got at least 4-5 more months of sideways. Now is a great time to DCA. When bitcoin suddenly and for no reason jumps back to the $23-25k range and stays in that for long time, it's on like Donkey Kong. |
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I don’t know but my work place and my circle are all brand conscious dudes (none of them in bitcoin, except for one or two) so not upgrading to the latest iPhone kinda feels left out.
Just recently upgraded to iPhone 14 from a perfectly working 13 and wasted $490 for the device + protector and case another $50.
Clearly this is not the way.
Then you will feel the FOMO essentially forever, as the tech cycle treadmill of always having to be on the latest and greatest never ends. Break the cycle, gain control of what you feel is important. Not living up to everyone else's expectations is liberation. -------------------------- I remember the early years of working in corporate America. Everyone looked the same, dressed in the same bland styles, trends and brands, and always had to be on the latest smartphone, tablet, and other tech gadgets. I got caught up in that too, for many many years. I remember the style trend was increasingly heading dressing down, more and more casual to work. One day in my late twenties, I said fuck it. I'm going to dress in my OWN style of clothing to work, and not in everyone else's blandness. Which incidentally, was set to a higher standard of quality and sophistication than what most men were wearing to the office. I started wearing a nice wristwatch, nice pressed dress shirts and ties, dress pants, nice blazers and overcoats, and higher end dress shoes. I felt a little out of place for a while, and other male colleagues would definitely give me weird side eye from time to time. I was in IT, but probably looked more like an executive or corporate lawyer. But at least I felt liberated and was happier. Then one day as a meeting let out, a woman co-worker of mine (who I thought was very attractive) and I were left in a meeting room alone chatting about various life things. As we gathered our stuff and started to get up to leave, out of the blue she turns to me and says, "You know, I always thought that you are definitely one of the better dressed men in this whole company." She smiled, I mumbled a "thank you" or something, and then she walked away. (btw, we were both married at the time, so I don't believe she was hitting on me or anything.) At that moment, I knew I had been on the right track for doing my own thing.  |
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Those people can't be helped. They are broke and have no wealth for a reason.
I buy 3-4 year old used or refurbed Android unlocked phones for a small fraction of their new price.
My SO and I are both still on the Pixel 2. Yeah the Pixel 2, from like 2015 or so? That I bought refurbed for $250/ a phone at the time. Batteries still rock solid, cameras work great, and give all the speed and functionality we could ever need.
Will only upgrade when these phones die.
Our phone plan is $42/mo.
This is the way.
I'm not as extreme as you, but close. I always buy new phones, and quite expensive ones, but I keep them for a very long time -- basically until they either die or can't do what I want. I currently have a Huawei P30 Pro (bought new for $900 in 2019). After 3.5 years it still feels like new, battery also feels like new (I'm quite puzzled by this -- how is there no degradation after 3.5 years?), its specs are great (AMOLED, 8 GB RAM / 256 GB storage), and its cameras are awesome (5x optical zoom, ultra-wide, good s/w). The way I see it, this phone should last for at least 3 more years. Still receiving security updates. That's great, good to hear! On a side note: There are a lot of things in this world that people can own that could be considered a 'status symbol', but IMO, having the latest and greatest iPhone (or Apple watch) is not one of them. I mean, it's a fkn phone ffs. If you live in a place where people are truly impressed by the latest iPhone or Apple watch, then that's just really sad in my mind. |
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Those people can't be helped. They are broke and have no wealth for a reason.
I buy 3-4 year old used or refurbed Android unlocked phones for a small fraction of their new price.
My SO and I are both still on the Pixel 2. Yeah the Pixel 2, from like 2015 or so? That I bought refurbed for $250/ a phone at the time. Batteries still rock solid, cameras work great, and give all the speed and functionality we could ever need.
Will only upgrade when these phones die.
what about security updates? they are still getting them? thats my worry about 3-4 yo used phones. i typically keep mine till the security updates stop, which seems to average 3 or 4 years. after that i might repurpose it for something else. i also destroy old phones, aint gonna turn in i dont trust nuthin. Updates to the base OS stopped a few years ago, but we still get the sec updates. And we still get Google android app updates. The interesting thing is that these Pixel 2 phones have not slowed down one bit from all the updates, they are still as fast as the day we got them. |
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I dont disagree with Schiff underlining there are real losses to working wages, the Dollar lost alot of value compared to its prior peak values. Its no longer usable as a saving instrument for most people, the largest entities on the planet still trade Dollar debt because of primary dealer advantages its an uneven game (china tried to illicitly double up their seats to access to that kind of buying) and the smallest players lose the most such as the common workers.
The whole deal would have fallen over had it not been for technology making up some of the losses to large government + this over subsidy to finance generally die to the banks servicing of that large debt. Theres no way Schiff is right on everything or anyone else, but its quite obvious we dont have a proper capitalist system anymore and he serves a purpose making that clear to more people then otherwise might notice I guess.
'
I like twitter for its brevity just as a news feed of stories, avoid comments on that site could be best unless you really find anyone you like. 12th Jan is CPI data and if it disappoints could upset this YTD recovery we've had small as it is.
We have robber barons crushing out the middle class everywhere they can do it. Lots of ways to do it. iPhone = investment killer cost for a family of four 5k a year to buy and run them . many middle class families do this. last poll on what is more important pc or cell phone. vote was 70% cell phone. most people do not understand the cost to them. just get an iphone free with verizon or at+t that free phone costs close to 1200 with the contract. family of four 4800 a year. so many replace the phones every new model. tag on an internet and cable deal for the home and you are pushing 6-7k a year. all kind of needed to keep up 🆙. I go for 1200 a year as i have three cellphones for mining. wife has a cell phone so four phones and i buy replacements every two-three years. cost 400 a year. so 1600 for phones which earn mining profits. higher than 1600. so my phones and my pcs and my mining gear turn profit. I would think many people cant say that. Those people can't be helped. They are broke and have no wealth for a reason. I buy 3-4 year old used or refurbed Android unlocked phones for a small fraction of their new price. My SO and I are both still on the Pixel 2. Yeah the Pixel 2, from like 2015 or so? That I bought refurbed for $250/ a phone at the time. Batteries still rock solid, cameras work great, and give all the speed and functionality we could ever need. Will only upgrade when these phones die. Our phone plan is $42/mo. This is the way. |
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OT: Torque's New Years Resolution
To watch all the programs on Netflix that interest me over the next few months (mostly documentaries), and then cancel my subscription.
Reason: I am so done with their bullshit agenda-pushing, bait-and-switch garbage shows. Just not worth it anymore.
I was having similar thoughts too. Care to share which documentaries you have in mind? I seem to spend more time trying to find something worth watching on Netflix, than actually watching Netflix. Well, I really liked the series 'Ancient Apocalypse'. Very thought provoking and engaging. Others:Secrets of the Saqqara Tomb Secrets of Great British Castles (a little dark at times, but great if you like cool Castle history) Any of the Animal/Sea Planet documentaries are great Cold Case Files (bad guys finally get caught, fk yeah some justice in the world) |
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