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Although I really like the concept of all these apps, every time you add stuff to a project like this you do compromise security and add things that can go wrong.
Also, most people are still running it on a RPi, there is a limit to what it can do. You know there are people out there that will install every app and then wonder why it's taking forever for the node to sync or why this or that is going wrong and it's just the RPi CPU screaming while trying to keep up.
It's a device that holds your finances, no reason to be doing that much more.
-Dave
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It's probably true just due to the number of video games out there. Just about everyone has a Playstation or XBOX or knows someone with a massive PC for gaming.
Also, don't forget you also have a TV or monitor on when gaming so add that in too.
Gold is not a surprise it's always consumes a lot of power as does paper.
How much power do you think is needed to grow / harvest / roast / grind / make coffee? But there is no way in hell you can tell that many people they can't have their caffeine addiction.
-Dave
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Yet another person coming in with a complaint against LBC and then never coming back to give proof / follow up.
I am starting to think there are a lot of hacked LBC accounts being sold to people who think they can just log in make a trade and keep the money.
That or people who think larger financial places don't have a list of IPs used by VPN providers and that they can get around sanctions / blocks by using them. FYI people there are accurate lists updated frequently that you can buy from well known and trusted security firms.
-Dave
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Migrating a data center to a mining facility isn't the best idea in the world, the power consumption of miners is way too high compared to those regular servers, the bottom line is that you can't easily find PDUs that can supply 5kw per socket, most currently used PDUs will be capped at 4kw at best, so a lot of re-constructing will need to be done to be able to run 5kw gears which is why I don't think they will ever make anything like that. Also, most data centers probably use 42U racks instead of 48u, but then, either way, going with the assumption that the average server consumes no more than 500w, we are talking about 25kw per rack enclosure (which I am sure is a very rare as most of them will not be above 10-15kw), that would hardly fit 4*5KW machines, in size of 2258cm x 750cm, a lot of space wasted. So in terms of space and power, if a data center has access to excessive power, it would be best to just get rid of those racks and install normal mining shelves + new electric wiring, but do data centers really have any power to spare? I mean looking at the data it seems like Facebook which has one of the largest combinations of data centers only uses 50MW of power, where does that put the average data center at? I was thinking more about cost and simplicity. Most data centers probably can't fully power and cool everything if they were all miners. BUT, once you start changing floor layout and the high power wiring you are changing the dynamics of the facility. Once you start going down that path you hurt the potential resale value of the facility and can limit options later. There are a lot of data centers out there that started as top of the line places and still are *for when they were built* but new better ways of doing things came along. Now they are not so great but still usable. Mining is one option. If you re-do it o be better for mining the next use will cost you a lot more money to re-configure it back. As would re-configuring if you are not just using regular racks. So are you better having more spaced out miners in a place that you can re-sell later if you bought, or will not have to pay a fortune fix if you leased it. Or making it better for mining? Would need some engineers and accountants to be sure. -Dave |
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I can see other exchanges doing this. Allow deposit and withdraw of any of the big name stablecoins but only trade on 1.
Do you really need BTC/USDC and BTC/USDT and BTC /BUSD? And then every other altcoin/ 3 stablecoins?
All come in -> converted to one -> choose your outcoin.
I'm sure it's going to allow for more shenanigans on the back end, but wait for it....not your keys, not your coins. If you leave it on the exchange and shenanigans do happen, that's on you.
-Dave
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It would probably create an entire new wave of miners. Lower power, low noise, perfect for home mining. Perhaps get back to the rack mount style like the antminer S2 / Spondoolies tech miners so people could place it in their equipment racks and nobody would know the difference.
Yes, the governments could play whack-a-mole trying to find it all but it would never happen.
Since BTC is for people to do with what they want, it can be a store of value, it can be a hedge against inflation, it can be an investment, it can be a cash replacement. It can be whatever you want it to be. And if someone does not agree, fine you don't have to agree it's what YOU want, not what THEY want.
-Dave
Precisely. People are forgetting about the difficult adjustments. If large-scale mining businesses would be ruled out, then it would be highly more viable for at-home miners. There's a reason it was designed this way — for Bitcoin to work regardless if there was a huge censorship campaign for large-scale miners. More people are forgetting that as energy rate keeps increasing, the cost of the energy to mine a bitcoin is exceeded by the energy purchased price. Meaning, every bitcoin mined costs more money than it brings in. How many home users do you think will go in the hole even $1k every month for 1 to 2 years to save btc. With Food and energy prices still increasing, odds are they won't be able to afford it, many normal business are already shutting down from just the normal energy they use. Giant mining firms can offset their loss in profit by going to the outside financial sector for capital investment. Home users can not get a major capital investment on a whim, because to be honest their operations will be too small to ever profit mining bitcoin. Bitcoin is only more profitable than the energy used for ~ 6 months every 4 years, the rest of the time , it is in the hole. * Due to the aging Baby Boomers, the capital investment is already in decline,
so even the big boys are not going to be able to offset the costs anymore like in the past.* And you are forgetting that if big players do drop out difficulty goes down, and as it does the home / small miners will if not make a profit will not incur a noticeable loss. You also do not seem to understand the amount of people who are mining with fixed infrastructure power costs. Or where there is unused power generation that can't go anyplace else. https://decrypt.co/98424/bitcoin-firm-crusoe-energy-raises-505-million-grow-flare-gas-mining-businessOr the bottom of the mountain wind turbine miners in CA. Or overnight hydro mining, it's not like a river stops flowing when everyone goes to sleep at night and power use drops..... And so on. -Dave |
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I meant that literally. Some people actually believe that power utilities will kick miners off this coming winter to have spare power for everyone else!
...
This seems like an equally ridiculous take to me. Are there any laws guiding what industries can be let off or what takes priority over others. Mining is sort of a business venture for miners, same with industries and factories everywhere which consumes loads of electricity. Why would one take precedence over the other... By lately some people have been claiming that "Bitcoin's power consumption is a central point of failure - someone can just switch off the electricity and all miners stop". And in particular "Bitcoin will not survive the coming winter". Both of these are wrong.
It was a tremendously bad argument in the first place. It's not like stopping all the miners is going to take a single(or a few) press of a button; it's going to require some sort of extensive global government collaboration to literally look for and stop every single miner(including miners that only run their operations at home). It's simply not realistically viable. It would probably create an entire new wave of miners. Lower power, low noise, perfect for home mining. Perhaps get back to the rack mount style like the antminer S2 / Spondoolies tech miners so people could place it in their equipment racks and nobody would know the difference. Yes, the governments could play whack-a-mole trying to find it all but it would never happen. Since BTC is for people to do with what they want, it can be a store of value, it can be a hedge against inflation, it can be an investment, it can be a cash replacement. It can be whatever you want it to be. And if someone does not agree, fine you don't have to agree it's what YOU want, not what THEY want. -Dave |
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It seems so easy for those whales to shake the market in uncertainity.
Simply moving the coins! Especially the dormant one! So you can get more bitcoin in these bearish run. Crazy to speculate that those thousands of bitcoin are going to dropped in the market all at once.
Too much possibility with really limited sources to reveal the fact , bitcoin transacted decentralized so yeah who knows.
Yet again I am saying the same thing that people refuse to understand. But one more time people. The volume of BTC <-> USD / USDT / other 'stable' coins is on the order of $7 BILLION dollars a day at a minimum. There is about another BILLION dollars a day in BTC <-> alts. If they dump it all at ones it's adding $100 million to the pot. Yes it MIGHT move the value SLIGHTLY. BUT MOST PROBABLY NOT. Depending on who you ask / where you look there is probably close to another 10% in trading not being shown in the $7 billion number due to OTC and other places that are not being reported in the CMC / coingecko type places. -Dave |
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The above two statements are in consecutive paragraphs. It appears that Coinbase is accused of *both* having too little and too much security for their customers' accounts.
Anyone can file a lawsuit for any reason. There are many class action lawsuits that are meritless and are often filed by greedy lawyers whose intent is to shake down a company for a settlement that involves nearly nothing for the plaintiffs and a large fee for themselves.
Quite weird, ain't it? Honestly account locks suck but it's better for Coinbase to be overly strict with their security rather than the opposite. People just look at it too much as a hindrance rather than a security measure. Part of the issue IMO is the lack of good customer service and lack of physical locations to deal with some issues. Had an issue with a bank starting in late July, spent hours on the phone and progress was VERY slow. But, after a few evenings of making slow progress I drove my ass down to the local branch and after about 90 minutes of the person I was dealing with and their manager working their way up the internal CoC the issue was fixed. Partly my fault, partly the banks fault and since the bank had bought the bank I was dealing with before partly the old banks fault. BUT, the issue was fixed since there were people who could handle it. You can't do that with Coinbase so you are stuck dealing with offshore support. To make matters worse, there are a lot of people who are just starting in crypto and wind up at Coinbase and just don't understand how it's done. So it's not just a new thing (crypto) it's an entirely new way of dealing with money and they have issues. -Dave |
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I'm sticking with troll with an element of scammer. Same as BitcoinMoses: https://bitcointalk.org/index.php?action=profile;u=955818Spouting drivel and garbage just to get attention. Sooner or later I am sure they will either do something that is worth a ban or just scam some people and fade away. Either way, since has been shown the mods / admins don't care the only thing we can do is sit around and complain about it and keep tagging them. Since we have seen the limits of what is tolerated here is far beyond most other boards it's just something that we have to put up with. -Dave |
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Either there have been more of these FUD threads lately or I am just noticing them more.
But as others have said it's 100% not important. The average daily movement of BTC through exchanges is on the order of 1 million BTC a day. 5000 or 10000 being dumped in if it really does happen is not that big a number. And we don't know why, it's happening that is another big reason. And we don't know where that BTC came from. Fine thiis TX was to Kraken, could it be Jesse Powell's coins and he was just sending them to the exchange to store them there? We just don't know.
-Dave
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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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