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2261  Bitcoin / Project Development / Re: Time to boost Bitcoin circulation, Million Transactions Per Second, more privacy on: June 16, 2021, 04:21:04 PM
Have you thought of the international limit you're going to set on how much a node can hold on your network?
...

Thanks jackg for your comments, but what you sommented, has nothing with Sabu protocol. The Sabu protocol doesn't care about hash-rate or "Current cost per phs" etc.
Please read the article carefully and "think out of the box". The protocol is based on UTXOs and potential valid transaction which people use them as a kind of debt-proving-document instead of sending it to Bitcoin network.
Potentially nodes would be millions or more with no limitation, since the nodes (mobile wallets) are standalone and it is not necessary everyone know everything about every transaction.

It is something quite serious with the sabu protocol though as it proves it's cheap for a bad actor with a lot of funds to double spend once they get where they want with "in-app" funds...



You kinda went on to suggest this was decentralised, trustless and Pro privacy but I can't even see a way it's any of those.
Especially considering the "masternodes" that need to run to maintain the network.
2262  Bitcoin / Project Development / Re: Time to boost Bitcoin circulation, Million Transactions Per Second, more privacy on: June 16, 2021, 01:03:12 PM
Have you thought of the international limit you're going to set on how much a node can hold on your network?

At current, I think I worked out a resync of every 2 weeks (the point where a new utxo is made) would take 0.5btc to be able to confirm within that time with neutral luck.

Hashrate current: https://www.coinwarz.com/mining/bitcoin/hashrate-chart
Current cost per phs https://www.nicehash.com/pricing

Values given are 116EHs and 0.0062/phs

116000x0.0062=719.2btc to take over the whole network for a day (obviously this is theoretical).

719.2btc/(144*14)=0.357btc

Thus, at 3000 transactions a block, each channel at the moment should be limited to 0.0001btc?
(blocksize ref: https://www.blockchain.com/btc/block/0000000000000000000489d050be1cb87b11ff2e77c9c6768b44f47f6eae6136)
2263  Economy / Economics / Re: George Soros and Bezos have paid almost zero taxes on: June 16, 2021, 12:24:04 PM
This is a problem the world seems to be dealing with as countries don't want to move their wealthy people to other countries that have less laws
It's not necessarily less laws but laws that offer more tax incentives or lower tax rates.

I kinda meant laws. You can control/police someone more easily if they live in your country.

Some areas like Scandinavia have done well to police online webservices like amazon (by banning some of their operations - example below) but they still don't have much control other than completely blocking them or completely allowing them. I think the US could directly pass laws on amazon's working conditions too for example.

Example - Iceland and Sweden require a democratic union to exist for a company that takes on employees there. Amazon don't want to have to deal with this and thus have to rely on other countries' distribution centres and postal systems in the nordics.

If bezos moved amazon to the Netherlands and started allowing cannabis to be sold internationally, it'd be more difficult and delayed to try to ban this than if it was still headquartered in the US.

Someone mentioned a wealth tax not working in France and that was probably because people can just hop country within Europe and kinda internationally too.
2264  Economy / Economics / Re: Is money the root of all evil as the poor to thinks? on: June 16, 2021, 02:33:25 AM
I think the version of socialism we have is kinda evil in its current circumstances.

If you think realistically, in most countries the times people get everything provided for (essentially "free") is healthcare, the military and prisons.

A prisoner gets around £40+k spent on them a year, comparing that to a common working class person making £26k, it seems kinda strange. The prisoner might get all their meals, a sognle parent potentially won't.
The military is also seen as a socialist backup plan to give people jobs who might be out of work (afaik the lower ranks are treated like scum by officers who rank above them in most places).
The healthcare part seems self explanatory too from the above two points...

I don't care about the idea for things like a universal basic income because it will probably go to waste, universal basic food - however - is something I see as probably easy to implement that'd cost around £1200 at most per person too unless the means of production was done by the government. Housing people at £6000/$9000 per unit and £1000/$1300 annually for bills seems like it'd be a reasonable ask for people to get if they're unemployed or on a low wage.

The assumptions have been that people wouldn't strive for better after getting these sorts of benefits but 1) if a country can sustain itself on its own then that doesn't really matter and 2) do you expect people to not have more children under such a system if they knew they'd always have money and shelter 3) why are people booking holidays and making other large spends generally? If the only reason people work is to survive/accumulate wealth, are they not also after a life experience they'd get from working and having a disposable income they can spend on other things?
2265  Bitcoin / Project Development / Re: Time to boost Bitcoin circulation, Million Transactions Per Second, more privacy on: June 16, 2021, 12:45:11 AM
edit: looking at the paper is this not just the lightning network? Is it compatible with the lightning network?
You can check my link to the left of here for my summary of it, I linked the paper in the op too.

Could you ass to your post an explanation of how it would be decentralised (mainly with fund spending, would all coins be burnt to produce the one your protocol is issuing or are people able to sign funds out, how is this done with bitcoin having a limit of 15 signatures per multisig address - afaik?) , how it incentivises people to keep it decentralised, and how it stops attacks against decentralisation? Additionally is privacy fully assured - there's no gaps for reverse engineering how the system behaves to determine who has what funds?
2266  Economy / Trading Discussion / Re: How to keep yourself out of the market? on: June 15, 2021, 05:40:29 PM
The trick I use is to get bored of trading before I start making mistakes or just interested in something else.

What else do you do that you could use? I used to enjoy setting up a good trade before going to a social event so I'd completely forget about the trade.

There's always going for a walk (try concentrating on something as a task too if you can: try spotting the bird purposefully out of tune for example). Gaming or finding a TV show to immerse yourself in during or after trading is also a good idea. (don't neglect stuff if you haven't set clear targets during trading though). If you have access to streaming service you can put subtitles on to help with concentration.



I notice risk management is something that comes up constantly in this area and I've considered for some time trying to make a service that offers it - because I actually just get bored of trading once I'm in profit because I know I might end up losing it at some point. And 1% profit a day is 3778% profit in a year
2267  Economy / Trading Discussion / Re: What Practical Advice For A Beginner Trader? on: June 15, 2021, 03:16:39 PM
Invest in knowledge first before joining the crypto industry. Bitcoin is not an investment but a currency to trade.

I feel like this might be a good thing to expand on. I'd say also get used to sending funds and knowing some parts of how things work with bitcoin and any other coins you want to trade to help you spot fuddy articles.

Also, look at some basic trading strategies and see how the markets respond to them, look at forex, stocks AND crypto if you're looking at graphs especially as you can work out the similarities and differences.

Try and work out how much you'd like to invest and put about 0.1% onto an exchange once you're comfortable with a strategy, then try to trade it up over a few months and see how it does. Pick a size for each trade (I'd recommend 5-10% loss max of the 0.1%) and look at analytics from the exchange to determine your win rate.
2268  Economy / Economics / Re: George Soros and Bezos have paid almost zero taxes on: June 14, 2021, 11:25:35 AM
I'm sure there was mention of a wealth tax a while ago which would be a useful thing for governments to add at least (taxing people with net worths over €40 million).

There's the other idea that a government could just order to take a share of all companies incorporated (eg 5% and do it retroactively).

This is a priblem the world seems to be dealing with as countries don't want to move their wealthy people to other countries that have less laws and some larger companies are harder for governments to just liquidate/take control of.
2269  Other / Beginners & Help / Re: Plagiarism and Paraphrasing, different sins of equal magnitude? on: June 13, 2021, 09:02:01 PM
There might need to be clarification here as a lot of society accepts that paraphrasing intelligence and reserving it is something that's generally good as long as you understand it and add your own flare to it.

An example of this might be a case where someone directly corrects something you've said about something, you're not expected to cite them everytime you mention what they corrected for you.

When the whole, or a substantial part of your post is plagiarised though (even in a different format - "paraphrased" as you put it) then those along with direct translation are plagiarism (provided the source isn't cited).
2270  Other / Beginners & Help / Re: What More Should Satoshi Do? on: June 13, 2021, 07:22:08 PM
Tell me, what more should Satoshi do???


This should teach you the only entity you need to look at to boost is your self and your team.

Rather than putting the weight of innovation on one innovator (as many are guilty of) you could try looking for ways you, yourself can change things up. It doesn't have to be big, just attempt to do something that's good/beneficial for a group that don't normally experience it like Satoshi has apparently done in your view.
2271  Other / Beginners & Help / Re: The Culture Around Bitcoin and Liberty on: June 12, 2021, 11:36:15 PM
No one will pay you to learn anything that is unbiased. The closest you'll find is coinbase earn, but they don't teach about bitcoin they teach the others.

You could always have a click through topics on this forum though to learn quite a bit (if you track topics that already have a few replies, any inaccuracies in the original post will probably have been fixed).

The best place to start is probably the whitepaper or wiki pages ( eg the bitcoin wiki at bitcoin.it and normal Wikipedia år epretty good for giving simple, to the point but useful information on topics and links the provide external references/information).
2272  Other / Beginners & Help / Re: What prevents someone from "giving" themselves more Bitcoin? on: June 11, 2021, 11:22:59 PM


There was one network hack back in 2015 that I can remember which involved a double spend.
Um, what? Can you provide a link?

He's probably confusing with https://bitcoin.org/en/alert/2015-07-04-spv-mining
But it was rather just a risk of double spend after a bitcoin fork when a few miners generated invalid blocks and it was considered valid by some wallets and explorers

Yeah it was just something I remember causing a crash. I had only just joined in the space so was relying on mainstream media articles for most of my information and posts around here. It mightve been just a few pieces of software effected and a code bug but I think it got flagged because blockchain.info was reporting a block that spent a few bn btc.
2273  Other / Beginners & Help / Re: What prevents someone from "giving" themselves more Bitcoin? on: June 11, 2021, 07:50:56 PM
Actually this has been the exact problem bitcoin was trying to solve.

Other versions before bitcoin have been fairly centralised and even some altcoins that came out after bitcoin are.

There was one network hack back in 2015 that I can remember which involved a double spend.

There are 2 known ways to do this at the moment imo (im not saying they're easy):
1. Find a badly programmed website and do a withdraw from it (and take advantage of a bug in their code that might give you 2 - eg if the site doesn't subtract your balance when doing a withdrawal).
2. Ask all of the miners to signal for yoy to get double your funds by accepting a higher coinbase and gifting you the value of your wallet.

Realistically neither SHOULD work but bad testing or a 51% attack is a known way to do it.

(also the first one sounds like theft)...
2274  Economy / Economics / Re: Own a house or rent one? Quick survey! on: June 11, 2021, 06:59:24 PM
Can you confirm the length of mortgage because mortgages are normally half of rent costs in the UK over a 24-26 year term.

If renting is cheaper than a mortgage it might make sense to work out how much you're paying on a mortgage compared to rent.

For a mortgage at 4%, the 15$ rent and saving/investing in stocks or a local company with $25/month might be better

That being said, you'd probably put in for a 26 year mortgage and pay it off much earlier, but imo you're better off saving at least 12 months of mortgage payments as a rainy day fund before paying of the rest (even if everything is insured).



Based on the UK metrics, if you're staying somewhere for up to 3 years, renting is the best choicee to make unless you're buying with cash from an online estate agent.

Mortgages are good if you're staying somewhere for more than 3 years as you should build enough equity in that time.

Getting approved for a mortgage is normally the hardest bit though as it's normally 3x-5x earnings + a 5% deposit.

Individually, the average salary gets you a mortgage of £185k, while the average house is worth £350k...
2275  Economy / Economics / Re: Bitcoin Gains by Country (from Chainanalysis) on: June 11, 2021, 02:43:20 PM
I feel like Indian's must've been massively underreported. I guess this data comes from exchanges as mining profits would likely see China, sweden and Iceland higher up (or on the list).

I'd put most of the nordics at least around 0.2bn.

I imagine this data could probably be cross compiled with node by country information to determine a more accurate figure?
2276  Other / Off-topic / Re: Just to make more profit Elon Musk wants to kill People and Decentralization on: June 10, 2021, 08:31:20 PM
They're nowhere near that stage yet. The most they can do at the moment is track what the brain wants to do as/slightly before it does it in general neural reading.

No one's ever getting a chip unless they're stupid and something like that wouldn't pass internationally, and would probably require him to be president to be able to pass it in the US.
2277  Economy / Speculation / Re: Bitcoin price movement for June & July 2021 on: June 10, 2021, 06:55:10 PM
Nice, thank you for your suggestion. Might consider buying half at 30K, I am still looking for more opportunities. May be buying ETH the other half.

If you don't set a limit you might have a problem with timing it.

I sold at $44k and woke up to see we'd already hit the $30k point i was planning to buy back at - it was a few hours after I'd originally sold - so instead bought a little higher, you might end up the same way not leaving an order that could be filled.

Eth at 0.08, I could probably see it going to 0.15 but that might be while btc is falling and entering a bear cycle, for the time being btc is more well known and secure.
2278  Alternate cryptocurrencies / Altcoin Discussion / Re: Using Tether to increase your Bitcoin Position on: June 10, 2021, 06:23:25 PM
The drops could be over imo. I expected a drop by half in the current bull run for quite a while as it always happens and orally happens with other assets too when they go on a bit of a run. Things move back to allow indicators to be more balanced.

Investing when everyone is claiming there's a drop is a bit problematic. If this guy with a short call didn't open it around 50k with 1x Lev, he might be wrong again?

If you're desperate for a sell, I'd suggest putting all your btc on an exchange and having stops at $29k. If we get just below the last low, we might go a bit further but I'm not sure how much lower we could go then. (if we break 29k then $25k COULD happen). If we don't break 29k then 25 obviously won't.

Have you thought this through, is it goi g to be too stressful to keep track of and are you likely to gamble what if you put a buy in at 17k and it drops to 16k you sell? You just leave it?. You quit?

If you're printe to gambling or stress of checking the price then don't bother doing this. You seem to have a reason to not be a day trader, otherwise you'd already be one.
2279  Economy / Speculation / Re: Bitcoin price movement for June & July 2021 on: June 10, 2021, 12:44:23 PM
I'm thinking $25k-$30k. I think $30k will be a hard resistence to break though and just cashing in at almost double would've been worthwhile imo...

If we're still in the main bull run (as most of us believe) we probably won't go much less than half the most recent ath.
2280  Economy / Economics / Re: Ransomware hacks linked to Crypto are killing Bitcoin slowly !! on: June 10, 2021, 12:16:14 PM
Well Internet and data storage could also just require government qualification/certification in order to be safely stored.

Private peoples data capable of being encrypted by a hacker is also capable of being cloned to an attacker's machine - this should be the focus.

Hacking attempts are unlikely to see crypto being banned in Europe and North America at least. Also, any mention of cryptocurrency/bitcoin in the media is still keeping it on people's minds.
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