Or for example if you made a bet online in a crypto casino (or maybe even advertised one and get paid by the company), since "internet gambling" is also illegal in United States under the Wire Act of 1961, you'd be considered a double criminal. Is this still a thing? Back in 1961 internet (ARPANET) didn't even exist... telephone lines existed, granted, but it was 100% circuit-switching. And what about modern video games/lootboxes (i.e. Fortnite) operating over the internet? Isn't that a form of gambling?  All these antiquated laws mean nothing IMHO, especially if they're not being enforced. |
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That's not true as I definitely don't want to know he actually is and I am sure that there are many more who think the same. One of the advantages bitcoin has over other cryptocurrencies is that we don;'t know the idenitty of the creator, meaning one less vector of attack on bitcoin. Why does Satoshi's identity matter (if it gets revealed), since Bitcoin is decentralized? Maybe it would matter back in 2009-2010 when the network was small (and thus prone to 51% attacks), but not anymore... |
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Even if Satoshi is still alive (highly unlikely), there's no chance he's going to send his enormous BTC stash to a CEX or even BlackRock. Chances are they're going to confiscate his coins if he tries to crash the market (try putting a spot sell order of 1100000 BTC and see what happens next  ). So yeah, he's a billionaire, but more like a "theoretical" billionaire. I'm pretty sure he'll become the first trillionaire as well (next to Elon Musk perhaps), but still, he'll be a theoretical one. |
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yeah just on the initial purchase but not on the amount of electricity you generate every month. can you imagine if the government did THAT? charging you for any electricity you use no matter what it was for. adding on a 30% tax for that? why not? they're trying to do it for mining. Basically they're trying to tax the Sun, which provides free energy for billions of years.  That's stupid beyond belief and whoever accepts it as the status quo deserves the worst as I said... |
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Many companies overcharge their customers, but wasting money still costs them money. You assume that companies are always rational entities. I'm afraid they're not... |
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By the way, a question - what do you think are the feelings now experienced by ordinary residents of El Salvador, who, for example, a week ago transferred their income to Bitcoin and today have lost more than 12%? We've heard this argument before... people who bought at 68k (2021 ATH). We saw BTC reaching 73k one week ago. Nobody has lost anything. It's called unrealized losses for a reason. Normies (ordinary people) need to have a low time preference, otherwise BTC is not for them. Either you prefer BTC for its long term benefits (higher appreciation), or you prefer fiat currencies for their short-term "stability" and guaranteed long-term depreciation. Red vs blue pill. The choice is yours. |
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Tons of consolidation going on right now...
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You are missing the whole reason why the US regime's scam with oil and dollar worked.
It is called Petrodollar, and it is US regime forcing everyone to use the US dollar when they want to trade oil. This created a monopoly and artificially strengthened the US dollar. The distinction you are missing is that it was never about having oil or how much oil you have, it is about forcing others to use dollar when trading oil.
They can not force anybody to use dollar when they want to trade bitcoin which means such monopoly can not be created regardless of what companies including Blackrock do, hence you can't even begin to compare the Petrodollar scam with what these companies are doing.
The reason is simple, there are many exchanges around the world that offer bitcoin markets against a wide variety of fiat currencies. The more popular bitcoin gets elsewhere, the more these exchanges grow.
That is not to mention the fact that people don't have to "exchange" fiat for bitcoin. Bitcoin is a currency and people can earn it just like they earn any other currency and it is global.
So the Great USA will claim that btc is in an exchange that holds bad coins terrorist coins. Thus exchanges like binance will be in 'trouble' since they have coins from IRAN. Right now multiple pools ban some txs it is more likely this will all be a way to crash btc in the 'name of peace' . Fuck countries simply find ways to fuck shit up. I never thought as a child I would want to leave the USA and live more or less alone in a less crowded part of the world , but now I do.USA is not what it used to be... by 2030 it will be completely unrecognizable. Worth a read: https://brandonquittem.com/bitcoin-rhythms-of-history/ |
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If you have to consolidate small inputs at higher fees, at least omit the inputs that aren't worth the fee. This transaction for instance paid 25.1 sat/vbyte for 698 multisig inputs. That's about 3250 sat per input. It includes inputs as low as 0.00001308 and 0.00001498 BTC, which at this fee adds a negative value to the transaction. They're literally burning money to remove money from their wallet. Several other inputs pay a very high percentage of that input in fees. It would be much better to wait. I assume this is an exchange using an automated system, and it's amazing they still haven't figured out an algorithm that doesn't waste money (and block space). And at higher transaction fees, the amount of wasted inputs only goes up. Exchanges tend to overcharge their customers, so it's not like they care about being thrifty. |
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The misunderstanding is in the companies that produce or buy it off-gird, the tax will be aimed at the companies that do that off-gird but are not limiting their production to the said mine, otherwise you would have nothing to tax since most large farms are directly connected to huge powerplants that have a direct contact with them. That's why the term particular is here:
" for example by using the output of a particular electricity generating plant,"
explain this statement: The tax would also apply to crypto mining firms that generate their own electricity.put up solar panels to run your mine, you pay the tax. because you're generating your own electricity. that's what it says to me. And look at the bright side, that might be a moment hobby miners might have a chance, how can a small guy compete with a huge farm that buys electricity at 2.5 cents per kwh and gets a 10-20% discount on buying MQO of 100 units?
that's not a bright side for the small guy. that kind of puts the small guy at a huge disadvantage. with this tax it makes it an even bigger one since they are getting taxed on 30% of 11 cent per kwh rather than just 2.5. so if you're for centralizing hash power in big mining farms then i guess you support this legislation. And another bright side, wasn't everyone concerned that the US might gain a majority in the total hash rate (juts like China) and that it was bad for decentralization? Forced decentralization by everyone fleeing everywhere!
maybe that is a bright side but putting small miners out of business is not one of them. goodbye to small miners if this thing passes either that or they become criminals for doing tax evasion. there shoud be alot of antminers being dumped on ebay if this thing passes. Some people are habitual contrarians... it's not just Franky who enjoys doing this. It's asinine to claim that the US government imposes taxes to promote "decentralization" (next thing they're gonna tell you is China did the same back in May 2021  ), only an IQ 50 person would believe that. You make a good point about wholesale vs retail electricity prices/taxes. Regarding taxes, let's keep in mind that every solar panel sold in the market requires you to pay sales tax/VAT, right? I'll never understand why modern people say "that's just the way the system works, man, nothing I can do about it". Need I remind you what ignited the American Revolution against Great Britain? Yeah, it was a tax issue and people didn't just ignore it... you could call them "tax evaders", I prefer to call them rebels. My point is, you decide to bend over and take it in the ass, you deserve the worst behavior from the feds. Stop being a lapdog and start being a wolf again, like your ancestors were. |
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It seems Saturday-Sunday are the best days to use BTC mainnet fee-wise... am I wrong?
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If West was not that dumb, then China would still be piss poor. This is all our fault. Be a man and admit it.
Why is it dumb to help China get richer? More countries without financial issues cause a lesser amount of conflicts. The way it was done was not very smart, true. Still we are better off with China having money than relying on just "the west". The West is pretty exclusive. By we, I count all 3rd World countries, which instead of looking for their own path try to copy the west. Because now China is rich enough to train their army for Taiwan's invasion. Because by making blue collar workers poor by sending the manufacturing to East Asia you wonder as a privileged white collar worker from your ivory Silicon Valley tower why populism became so... popular. Need I continue? |
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What if internet isn't an option in a worst case scenario? What if some lawless groups cut off the submarine cable that carries internet around the globe? Internet is called a decentralized network for a reason: https://www.submarinecablemap.com/Good luck cutting ALL those cables/routes... Bonus: optical fibers can withstand a solar storm (unlike copper ones). |
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You need to explain why food/gasoline prices have skyrocketed since 2021... not me.
What we need to ignore is you claiming that Biden is a "sane" politician or that FED has a "sane" monetary policy. Either you're trolling or you're crazy.
There was a pandemic. The United States recovered from the pandemic better than almost every other western country. Inflation is now essentially back to normal pre-pandemic levels. Prices are not back to normal, they're double... wages have not doubled. |
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You better explain Biden math. I don't trust WEF puppets.
Sure thing. 1. I had mentioned that the US dollar has been pretty darn stable for the last 40 years. 2. You countered this by giving the example of the inflation that happened around 1971. 3. I pointed out that 1971 was 53 years ago, based on the mathematical equation: 2024 - 1971 = 53 4. You seem to continue to object to this, while throwing out some personal insults, implying that math is a partisan thing, which is probably best that we ignore. You need to explain why food/gasoline prices have skyrocketed since 2021... not me. What we need to ignore is you claiming that Biden is a "sane" politician or that FED has a "sane" monetary policy. Either you're trolling or you're crazy.
implying that math is a partisan thing, which is probably best that we ignore. Ignore what? Psychological projection? Or gaslighting me? Interesting. What is 2024-1971 using Trump MathTM?
Just curious… You implied first (you even used a trademark, FFS!) that math is a "partisan" thing, not me. [moderator's note: consecutive posts merged]
implying that math is a partisan thing, which is probably best that we ignore. Ignore what? Psychological projection? Or gaslighting me? Interesting. What is 2024-1971 using Trump MathTM?
Just curious… You implied first (you even used a trademark, FFS!) that math is a "partisan" thing, not me. |
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Btw: https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP) #1 China #2 USA So IF this prediction was really talking about PPP GDP (as you insist), it's already true (China is already #1 in PPP GDP according to the above link): https://www.weforum.org/agenda/2019/01/india-will-overtake-the-us-economy-by-2030/But I told you it's talking about nominal GDP, not PPP and you're trying to lecture me about economics ( ), even though you don't understand that AI can bring exponential GDP growth (and you need high-end microchips for exponential AI/GDP growth, that's why they want to capture Taiwan/TSMC): https://i.imgur.com/O3r2uwx.pngChina experiences (slow) depopulation since 2023 (first time since 1961), so there's no way they're going to experience economic growth by using cheap human labor force. Stop thinking in human terms and start thinking in AI terms. Responding in an overly defensive and sentimental manner ( "I've had a bad childhood  in USSR, so I'm going to defend USA to death") is not going to get you very far in life...  TBH, I don't even know why you got into Bitcoin in the first place, since you have so much faith in USD surviving longer than 100 years (the usual average for global reserve currencies). Chill down a bit, you tend to do this pretty often on this forum. Just because someone said back in 1945 that USA will fall "soon", doesn't mean that every prediction is wrong. USA was still a baby back in 1945. Now it's an old senile man. Apples and oranges comparison really. It's like arguing that BTC will fall soon (just like you did), even though it's still in its infancy. BTC might fall in 2140 (since it will be over 100+ years old), but nobody knows for sure, since we won't be alive by then. It's OK to be a man, admit you were wrong and decline the bet.  No harm done! |
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You're just wasting my time trolling, right? I'm afraid you're trolling me (believing that BTC will go to zero by 2030) and you're doing psychological projection on me. Poor commie guy... those breadlines in Poland must have caused you severe childhood trauma. |
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I think that you actually believe that more than you want to let people know, otherwise you would propose the bet. I believe 1 BTC = 1 BTC. What do you believe? Yup, show the conditions and who decides the numbers and the winner, if I think it's fair it's a $66 000 bet! I don't speak in terms of dollars for the bet, so don't use that metric. If China becomes No1 in nominal (not PPP) GDP, you'll give me 1 BTC. If USA remains No1, I'll give you 1 BTC. How does that sound? |
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You're totally ignorant about WEF's agenda (Great Reset), got it. Regarding GDP growth, you're still thinking in human terms: https://www.youtube.com/watch?v=2qCJ7X2H1QwI don't care if 1 BTC is worthless or if it costs 1 million bucks by 2030. 1 BTC = 1 BTC. Right? Willing to take the bet or nah? |
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