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A programmer at a mining pool could be be doing this too.
Makes you wonder if you could take the addresses of all the known brainwallets / known compromised addresses find out which pools are mining the transactions and see if there is any commonality.
Doubt there would be anything to find, and it would be just about impossible to figure anything out if the programmer is using any form of opsec but it is an interesting thought.
-Dave
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Very little, perhaps a small upward tick but nothing major.
Big players report now anyway, anyone using a US based regulated exchange report now anyway.
Some people may not report everything or like others fudge the numbers a bit for tax reasons, but the big users moving a lot of BTC / crypto in general are already giving that information in terms of fiat value.
As for the loss of privacy, some people may leave, more may come onboard. Look at Cannabis stocks once they hit the market and people could invest they did fine.
Yes, their price is down now but that is more due to market saturation then anything else.
-Dave
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That's all they would need to do. Bring ID to the bank and pay the cashiers check fee. Everything has a fee for sending, even bitcoin. So I have to go to the bank, prove who I am, have my ID checked, have the cashier produce a check, have it signed, have it countersigned, send it to the other person, they have to take it to their bank, have it checked by their bank, arrange with yet more third parties to actually transfer the funds, the list goes on. That's a lot of third parties who need to agree to the process, any one of which could decide to deny my request. [/quote] Only if you are looking to get cash or cash equivalent. One of my clients routinely logs into online banking and sends out 7 figure payments to people. Needs a 2FA dongle thing and a username & password and can ACH money in 5 minutes and it's in the recipients account later that day. Wire transfers around the world are the same. If I had it I could do $500k without even calling my bank, I remember laughing when they said that was my limit. I'm just $495k short of that at the moment so I can't really test it, but when my friend sold and then bought a house there were no checks or anything else. All online and both transactions were in the hundreds of thousands. -Dave |
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...But lately I've come across some anti-HWW bitcoiners Eliminating EVERYTHING ELSE from the discussion, if you take a large enough group of people who are all passionate about something, there will always be groups within that group who are pro something or anti something. Hardware wallets serve a purpose but they are not always the best answer for everything. Someone holding $100 of BTC and using it to buy things and then getting more probably does not need a HW wallet. Posted this close to 3 years ago, still true today: https://bitcointalk.org/index.php?topic=5205304-Dave |
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They seem to be doing fine looking at their numbers.
Took a hit yesterday with the ban of sale of some things to China and Russia BUT that is only 7% of their gross sales from what is being said.
GPUs are now available and selling quite well. But, at the moment with the 4xxx coming out the 3xxx sales are slowing as predicted.
While the PoW to PoS for ETH might matter there are 3 things to consider.
1) Most of ETH mining was being done with ASICs or cards that are not really suitable for home / gaming so those will not be hitting the secondary market hard
2) A lot of the GPU miners will keep trying other algos / coins for a while before giving up so those will slowly trickle into the market as they give up
3) [guess] A lot of GPU mining is being done with older cards by people with free / cheap electric and cards that outside of mining have no value since they are so old / slow / outdated.
-Dave
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Bitcoin does not have to change, the same way money does not have to change the front end services to some extent need to become more user friendly and give people more options.
There are many small banks and banking services and brokerages that have customer service and customer facing interfaces that are IMO generations ahead of some exchanges and other bitcoin services.
Sorry but it's true, not saying that they are all that way, just that enough are that way to drive people away.
-Dave
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How repairable is the SATSCARD going to be?
I had an opendime die and had to send it to be repaired to get the BTC off of it.
As you go to a creditcard sized thing if it dies will there be any repair available?
I know it's NFC and no exposed electronics unlike the dime but it's still an electronic device and it can still die.
-Dave
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Oh my god how can people live $6.99 a gallon for diesel and $4.49 for unleaded.  Oh, wait nevermind. The sad part is the people / person who run the speedway have figured out they don't even have to be competitive, just a chunk less then the Mobil. There are stations a few miles away that are about $0.20 a gallon cheaper then they are, when they used to be by far the cheapest. -Dave |
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i can not access my node or log in since a few days... when i try to access http://umbrel.local/ i get a empty page with the message: the website is not available anyone an idea? have not changed anything on my umbrel node Can you get the RPi plugged into video? If so there might be something on the screen that gives a hint. Crashed process / out of memory / drive error. If not, can you SSH to it? From the umbrel site: Open a terminal on your computer and enter: ssh -t umbrel@umbrel.localin Windows 7 you can use Putty 145, a tiny program to use SSH in Windows 10 you can use PowerShell and the command is ssh umbrel@umbrel Instead of umbrel.local also you can use the local IP of your node. The default password is moneyprintergobrrr. On version 0.3.3 or later, the password is your personal user password instead. If you can get in with SSH a reboot might fix it to reboot the node. How old is your oldest backup if there is an issue that requires a rebuild? -Dave |
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Mempool website added beta support for Lightning Network and you can find there lot's of useful information and pie charts. First thing you see is that most LN clear nodes are running on Cloud servers (Google cloud, Amazon cloud, Data Web Global Group, Digital Ocean, Hetzner, etc). However, around %80 of LN nodes are not shown here because they run on TOR, but 70% of liquidity and capacity is still coming from four biggest cloud servers with clear nodes. Clearnet capacity is 4,187 BTC; Tor capacity is 367.76 BTC; and rest of capacity is from unknown. This is clear centralization and I really don't understand what's the problem of running your node on raspberry pi or old laptop/computer... probably it's more convenient and cheaper to use someone else computer  What do you think about this?  https://mempool.space/lightning https://mempool.space/graphs/lightning/nodes-per-ispPS I heard that Hetzner recently released some announcement saying that using their cloud for any cryptocurrency related services is against their terms, and they will have to ban that soon. Same thing could happen with all other cloud providers at some point. I *think* a lot of the clear-net stuff that is cloud hosted is from businesses running their nodes. Their website and back end commerce is already at Amazon cloud or Google Cloud or wherever so that stays there too. Look at voltage.cloud that we were discussing: Interesting thing about VoltageCloud is that Alphabet invested a lot of money in their business.
Do you actually think that the nodes they host are going to be anyplace other then the google cloud.... As for most users, running one of the nodes in a box that I love or any pre-packaged LN node it's usually just a click to do TOR, or in the case of Umbrel something you can't unclick. So things like that probably make up a large portion of the TOR nodes. Where people want to do it, but don't want to do it by hand so to speak. Which is fine, I want to drive my car I don't want to know how to refine gas. -Dave |
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I hope you're right, but that thread seems far more nefarious than mere boredom would explain.
Still haven't slept yet, and earlier today when I was even more maniacally deprived of it I wrote this in that thread he created about a new section: I'll give credit to OP for being a newbie who's very passionate and inquisitive about bitcoin (I'm trying to just take his posts and rank at face value and not assume he's an alt account). Based on his post history, this looks to be a genuine request to improve the forum and not some ignorant noob, although it would have been much better had he indeed noticed the Trading Discussion section, among others, which will probably suit him just fine.
I chose my words very carefully, because for whatever reason I had an itch in my gut that was telling me that taking this dude at face value might be the wrongest of wrong actions. I've been fooled by fools, cretins, halfwits, lobotomy cases, humans with knives, various animals with either charm or claws, and I don't ever see that trend having an inflection point in my favor. Oh well. Nope, I would just file him under nutjob troll and move on. I don't think he is going to be able to scam people at this point no matter how hard he tries, His lack of knowledge along with general troll like posts will probably keep most people away but you never know. May be able to waste some peoples time but that should be about it. Disappointed that more people are using neutral feedback instead of negative, but so be it. -Dave |
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Well, don't forget that those prices ignore the taxes you may have to pay on top of that, if you ship them from china to a country that requires you to pay those rather large extra taxes.
They are not shipping everything from China, they have miners in stock in the US and other countries that they ship from. Not saying that there are no other taxes involved and depending on from where to where the amounts could still be large. But they seem to be trying to save customers some money. -Dave |
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DaveF, Thanks again for you comments. Your feedback is invaluable. We have removed the Hardware wallet requirement and are testing the best hot wallets to recommend. Do you have any preferences on hot wallets and which are the most secure, non-custodial options? Thanks again for your feedback. Tom McPhail We BTC https://webtc.io I think Electrum is probably the best bet for a wallet. Windows / Linux / Mac / Android. Only one not covered by it is iOS based devices, but I would think for most businesses they are doing financial work on a desktop environment not phone / tablet. Could be wrong on that but I can't see someone spending money running and online store and taking crypto not having a desktop. Would also put together a blog post about why you really should have a HW wallet and make sure people who are not using one understand that there is a greater risk of having funds lost / stolen. -Dave |
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Possibly I'm jaded but when things like this happen more and more I just shrug and move on.
Investors who don't do research, greedy management who thinks this incredible growth will just keep happening, easy access to cheap funding and so on.
2008 housing
2000 internet
1990-92 Kuwait invasion / Japanese bubble / Black Black Wednesday (Carp that was 30 years ago, I was in college I'm old...)
And so on. We saw on TV the larger effects and so on. But now, in the utterly connected internet age with everyone investing in everything we see it all.
Using the .com of 2000 we saw the big ones go down. What we knew happened was all the other businesses they took down with them. And I'm sure in various locations it was discussed.
But, a lot of people missed. Large layoffs -> Less office space needed -> lost of new / almost new office furniture available for pennies -> office furniture manufacturers going bust. With people asking how can you go broke selling a desk for $100 that cost $20 to make an deliver. (Answer because I can get one that is 3 months old for $5 at auction)
Same here, how are all these things happening now. Because people only plan for the good times.
-Dave
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You don't say where in the world you are located but these people have them and they have a fairly good reputation: https://www.zeusbtc.com/MinerDetails.asp?ID=180https://www.zeusbtc.com/UsedMinerDetails.asp?ID=63There are other sources; once again depending on where you are. For repair, again without knowing your location it's tough to recommend repair people since shipping and customs can be a killer if it has to cross a border to get to them and back to you. Edit: Did you check your power supply to make sure it's not the issue? -Dave |
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Yeah, basically there's no universal standard that everyone is following, although most do seem to be quite consistent, there will always be outliers which do things a little different, and while that does add to the confusion, especially when using one of the outliers, and you come to realize years later it only works on said application, which could become obsolete or no longer usable.
If you're generating a brain wallet, it's probably best to opt for the more universally accepted generation. Any particular reason why you're using pycoin?
This statement cannot be stressed enough. Playing around with stuff like this to leard and experiment is fine. But never ever store funds in addresses generated by things like this. Over the years, and a lot in the early days there were a lot more one off and oddball ways of generating private keys. Take these words -> <some math that was not disclosed> -> private key. It was nothing malicious but just people experimenting. But when their github / sourceforge / webpage went away so did the app unless someone saved a copy. So now you have your super secret passphrase and are now digging through archive.org to find how to get your private key again. It's become less common over the years, but you still have people trying to recover wallets that they don't even redeemer how they were generated. Yes some people are scamming, but I'm sure there are many others that just don't remember how they made them in 2011..... -Dave |
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Fair point but you forget to consider 2 different things. Most of the volume comes from exchange platforms because it's the reality, that's where people trade. Sure, the study didn't consider the volume done IRL for example. We could also mention the DEXs and other places. But I believe (maybe wrongly) that it represents a minimal percentage By the way, Institutional bitcoin trading volumes account for 99% of transactions over $100,000 and Only 13 crypto exchanges provide ‘trusted’ trading volume (yes I know it's a bit old but the trend hasn't changed a lot since) Of course, the study isn't perfect but it still gives an overview Now, who cares? Well, not really a good way to attract people to the crypto market I would say. It's a bit like lying in my opinion Probably a fun debate here. My view is big people with the big money are the ones that move the market. 100000 people trading $100 are going to have less of an impact then 1 person trading $10000000 since if they put it all in 1 huge buy or sell it can move the needle. From what I can see the exchanges with fake volume are just 'moving' the same $10 around and around at the same price. Some people may see it, some people may even believe it, but in the end it is not doing anything to the price of BTC and what real traders see and think and do. Obviously this is all just my opinion. As for the who cares, perhaps not the best wording I would go with, in the end the people who are swayed by the obviously large fake volume are the same ones who invest in the DaveF will make you a millionaire token with this magical internet money token and there is very little we can do to save people from themselves. Sub points. 1) I also think that there is *some* fake trading that is not as fake as people think it is with some of the larger exchanges, it's just REALLY poorly programmed trading bots. 1a) I am not a programmer but I have seen some WTF code in a few of them which was why I said that. 2) Some of those bots might not be poorly programmed, but done deliberately to drive up peoples trading fees to make the person who wrote and sold the bot a referral commission from the exchanges who are taking the fees. 3) I think the altcoin / token section here does more damage to attracting people to come and stay with the crypto market then the fake volume. With the full disclosure that I do have and trade alts / tokens but understand that it is gambling. -Dave |
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Since Mopar put me in at number 10 I'll stick with number 10.
-Dave
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Guess he knew this was coming: https://twitter.com/AGKarlRacine/status/1565031380471382019NEW: Today, we’re suing Michael Saylor - a billionaire tech executive who has lived in the District for more than a decade but has never paid any DC income taxes - for tax fraud. Going to be interesting to see how this all plays out. Settle it? Fight it out in court? Something else? I have no idea on how legit it really is and what may or may not be true, but I can see it creating a shitstorm for Microstrategy in general. Having him out as CEO can show they were beginning to clean house. -Dave |
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What we don't know, and cannot know is how much volume is done off exchanges. Did DaveF just give hugeblack $20000 in cash for 1BTC while we were at lunch together with stompix mediating the trade?
No we didn't.....but you can't prove or disprove it in any way. Hodl Hodl, LocalCryptos, Bisq there are a lot of traders with a lot of volume that never show up in any chart that I know of.
IIRC mycelium still has the local trader option and I think some other mobile wallets have a feature like that too.
-Dave
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