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2461  Economy / Economics / Re: How does bitcoin market cap take into acount forever lost bitcoins on: November 29, 2020, 06:54:18 PM
Pointless cos there's no way to know what's lost and what isn't.

We'd likely be shocked at how many old coins are still accessible and similarly shocked at how many recent ones have been thrown away.

Quantum computing may possibly release all those lost coins which would make for a fruity moment or two.

I'd prefer them not to be released, because who is there to say which coins are to be touched and which are not? Are Satoshi's coins up for distribution or are they still in his possession? Should the past owner who lost coins demand some of them to be returned to him after a quantum machine cracks his lost wallet? These are the dilemmas we'd be facing. It's best to let them be and for the market to adjust the price taking those lost coins into account.
2462  Economy / Economics / Re: Why Bitcoin is a Massively Underrated Opportunity in Today’s Macroeconomy on: November 29, 2020, 06:16:39 PM
You are right, it's greatly undervalued, but its value is based on people's perception. How do you value something that isn't physical and that another person cannot value for you? For instance, stocks have their IMO price and knowing the value of the company and their yearly revenue you can decide whether it's a good or a bad price. Bitcoin doesn't have anything like this, that's why many people think it's overvalued and in a bubble, while in reality it is not.
2463  Economy / Economics / Re: Here is a conspiracy theory on: November 29, 2020, 05:32:31 PM
Fortunately, that's not the case for now, the world still has plenty of resources to share, the world economy does not work as usual doesn't mean it has stopped completely.
The Pandemic invected less than 1% of humans worldwide, 64% has been recovered, it shows that humans can resist the virus, moreover the vaccine has been found, we are heading towards world recovery gradually and expected that it will return to normal in early 2022.

It infected more, but most of those people went through it without any symptoms and not requiring any medical attention. We now know that Covid was in Europe in 2019 because it was discovered in samples taken from people with cancer. There's really no need to worry about it as long as it doesn't mutate into a more deadly form.
2464  Economy / Economics / Re: Guggenheim Fund Files to Be Able to Invest Up to Almost $500M in Bitcoin on: November 29, 2020, 05:22:23 PM
Even though they will not invest directly into BTC, it will impact the price as Grayscale, having that much money invested in them will surely increase the number of coins they're holding. It may not be a 1:1 ratio, but even it 25% of those money flows into the market it's going to be huge. Years ago, long before we went into the 20k bubble, people were predicting that once institutions come in we're going to have a 100k USD bitcoin. Even now this seems to be a distant future, but if you think how small Bitcoin is compared to the value of S&P 500 companies, you'll see that 20k per coin is nothing big, just a step in the right direction.
2465  Bitcoin / Bitcoin Discussion / Re: Warning by Coinbase of Treasury Rule Change for KYC All Addresses. Poll! :) on: November 29, 2020, 05:14:57 PM
After reading that long post on the previous page I feel like most of the problems OP had (and potential screwups that thankfully did not happen) came out the way you followed government requirements. In short, they asked you to report all your coin transactions and you spent a lot of time to satisfy them, but if they wanted to they could say the evidence was falsified or something and screw you over. For this reason I don't report anything, ever, and simply choose the way of making sure they can't track me and prove that I own coins instead of trying hard to make them happy against all odds.
As for the plumbers and people who come into the house, I had that question many times and told my wife that if someone sees my computers and stuff she's to tell that I'm into it, programming or something, but she doesn't know what that is. We avoid the word cryptocurrency during social gatherings. So far so good.
2466  Bitcoin / Bitcoin Discussion / Re: Altcoins price pump influence bitcoin price Negatively ? on: November 28, 2020, 07:15:34 PM
XRP threatening Bitcoin? It's one of the strangest things I've seen today. Who is even buying XRP over Bitcoin these days? Probably people who think that if they can't afford 1, there's no reason to buy any, but hey, they can afford more than 1 XRP... I doubt that Bitcoin and XRP even have the same people buying and holding.
2467  Economy / Speculation / Re: Bitcoin price 17000$ today on: November 28, 2020, 06:54:04 PM
I strongly believe that we'll continue towards 20k so I chose this option, even though I'm unsure if it will happen by the end of the year. There's just too many things at play here to make a prediction for the next 4 weeks, especially with the holidays coming where people will probably want to spend some money, not save up. It may look like nothing, but the price fell right before black friday this week.
2468  Bitcoin / Bitcoin Discussion / Re: The dangers of buying bitcoin thru Paypal - real life example on: November 28, 2020, 06:07:34 PM
Quote
I just spent 40 minutes on the phone with a nice lady (Jennifer) on PayPal's phone and went through our transaction history/activity, tons of explanations of crypto terms (since she didn't know PayPal even has crypto) and I basically begged for the account back, but still no luck because apparently you cannot appeal a final reviewed decision.

She genuinely wanted to help me and I believe she understood how crazy this ban was because I didn't sell items to anyone except PayPal (PayPal shows as the buyer and seller when you purchase from 'PayPal Crypto'). She finally understood it was a daytrading like thing and even after that there's no appeal option (she tried) and its final.

This part is the most disturbing IMO. They have a support office where a group of people sits and answers tickets, right? When one person makes a decision, you can't appeal to a supervisor. Even when the decision is questioned by another employee on the same level, they can't do anything. That's crazy if you ask me. In big companies you have multiple supervisors within a group. There's a junior support, senior support, a manager and a ticket can be escalated.
2469  Bitcoin / Bitcoin Discussion / Re: Warning by Coinbase of Treasury Rule Change for KYC All Addresses. Poll! :) on: November 28, 2020, 05:58:46 PM
How are they going to prove that someone owns a private wallet, even if they used coinbase at some point in time? You had money coming from a wallet to coinbase? Someone you don't know was sending you money for some job done online. You had money going from coinbase to an address? That's not your address, you were sending coins to someone that you don't know, but that person did some work for you, or had a birthday coming, or whatever. Whoever discloses all their addresses to the government just because they say so is a moron.
2470  Other / Beginners & Help / Re: What is the most advantage of Using Bitcoin Forum ? on: November 28, 2020, 03:21:31 PM
There are more than a few. For instance, I find taking part in a discussion and sharing my opinion relaxing and fulfilling. You can learn something, you can get help with some issues, you can earn money, even get a job here. Some people will find one thing the most important while others will be interested in something else. For example, I don't mine, so threads about mining are not something that I'll find helpful.
2471  Bitcoin / Bitcoin Discussion / Re: How much damage can the Trump administration do to Bitcoin? on: November 28, 2020, 02:45:16 PM
They had years to do something and they failed. There's really no point in trying to damage something that isn't trying to damage you, especially when you're leaving the office.
Trump is saying bye bye to the White House and he's busy protesting and saying that the election was a fraud. Bitcoin is not even a blip on his radar.
2472  Bitcoin / Bitcoin Discussion / Re: Rumours that Bitcoin was created in Russia on: November 28, 2020, 01:47:50 PM
"Sergey Nazarov (SN) = Satoshi Nakamoto (SN)"  Grin
https://www.altcoinbuzz.io/cryptocurrency-news/finance-and-funding/real-satoshi-unmasked-chainlink-sergey/

In what can be found from open sources it is written that Sergey Nazarov began working with cryptocurrencies in 2011.
And what is known from the history of bitcoin, the information appeared on the Internet in 2008. He's too young for a Bitcoin creator


It's pretty much the same conclusion they reached when they saw that there's man named Dorian Nakamoto and that he's old enough to be the founder. I'm a supporter of the theory that real Satoshi died, most likely in a tragic accident. That's why he never came back to share his opinions on how the cryptocurrency is evolving. There were many ways he could do it, like a vpn + encrypted communicator using a public wifi, but he didn't. I'd leave this hunt, it's not doing us any good and not leading anywhere.
2473  Economy / Economics / Re: Here is why btc will die as a crypto on: November 28, 2020, 01:15:49 PM
So you're all arguing whether bitcoin will die or not because this dude tried to send 0.3 USD through blockchain? What's the point of such transaction, what would you even buy with that? A cup of coffee or even a pack of chewing gum is more expensive. You even pay more than that for taking a piss in a public bathroom.
2474  Bitcoin / Bitcoin Discussion / Re: Is bitcoin anonymous? on: November 28, 2020, 01:02:52 PM
It is anonymous as long as no personal details of yours appear in any of the transactions. This means that if you got coins for free from a friend or a member of family, or earned them in a signature campaign, they are anonymous. If you then go to a service that requires KYC and spend them there, they stop being anonymous, but if you exchange them with someone for something (barter) they will remain anonymous.
I can not agree to this, so far the coins can be tracked on blockchain, it is not anonymou. That is why bitcoin transactions are called pseudonymous because it is possible for the transactions to be known but not linked to the owner until it is linked with kyc, that is why bitcoin is called a privacy coin. There are some anonymou coins like monero, zcash and dash which transactions can not be seen on blockchain.

Tracked to what? A random address that is not connected to your identity in any way? A bitcoin transaction can be just as anonymous as cash transaction. You can argue that cash also leaves a trace because every bill has a number that can be used to identify it, just as an address is unique and can be used to look up the transaction in the blockchain, but that doesn't mean the transaction itself isn't anonymous.
2475  Bitcoin / Bitcoin Discussion / Re: Reason for calling Bitcoin scam on: November 27, 2020, 09:36:53 PM
What people? I don't know anyone who thinks that it's a scam and I'd be happy to discuss this with them and explain to them why it is not. From time to time I see troll posts where people say it's a scam, but given argumentation they answer something like "you'll see that I'm right when it dies and whole world will say it's a scam, you'll be sorry". Such people are not worth your time. There are some true non-believers, who say that decentralized economy cannot work, but it's something for a much longer post.
2476  Bitcoin / Bitcoin Discussion / Re: Is bitcoin anonymous? on: November 27, 2020, 08:32:23 PM
It is anonymous as long as no personal details of yours appear in any of the transactions. This means that if you got coins for free from a friend or a member of family, or earned them in a signature campaign, they are anonymous. If you then go to a service that requires KYC and spend them there, they stop being anonymous, but if you exchange them with someone for something (barter) they will remain anonymous.
2477  Bitcoin / Bitcoin Discussion / Re: Bitcoin and Crypto Tax Implementation on: November 27, 2020, 08:25:10 PM
I said it many times and I'll say it again. The government has achieved mastery in stealing money and looking for it in our pockets. They are usually against everything and will make it as hard as possible for you to make money, but once you do, they'll be the first to reach out for it. I'm not going to report my cryptocurrencies anywhere, despite new laws and regulations, but I have the advantage because my coins were bought on exchanges that no longer exist.
2478  Economy / Speculation / Re: Bitcoin Climbs Above $19,000 – Heading to New All-Time High? on: November 27, 2020, 07:23:34 PM
We are still heading to all time high, do not be worried. I hate it when people act as if bitcoin became something so small that it is worthless now just after a huge increase. If you think $17k is bad because went from $19k to here, you are very wrong because we also moved from $10k to $17k in the past 2 months as well, why not focus on that part of the situation?

People always ignore how awesome we have improved and just care about the drop. We didn't even dropped that much neither, it is something like 10% or even 20% is not that big. For something that went as high as 90% in the past 2 months, dropping 20% or so is not really that big, it is a correction and there are people who are taking out their profits they made in the past 2 months, that was expected anyway.

This attitude is actually pretty common because it's hard for people to look back, they always move forward and if they look at charts it's maybe a week back, that's it. They feel like every single price level that gets breached is there to stay and then you get posts like "oh my god, bitcoin has crashed, is the rally over?" You look at the price and see that it's just down 10% and wonder: are they all newbies?
2479  Bitcoin / Bitcoin Discussion / Re: Fraud of the Century? on: November 27, 2020, 03:10:07 PM
I've heard talk of people claiming that "moving coins" would constitute proof, but I don't think that those who are resolute in their opinion would accept it (and indeed it doeasnt really constitute proof that CSW is Satoshi, merely that he controls keys.

It's true that many people wouldn't accept moving coins as proof that he's Satoshi, because it would only proof current ownership of the addresses, but the most important thing here is that he can't even do that. Craig can't even prove that he's the current owner, not to mention a past owner. I could accept partial, circumstantial proof because it would at least suggest that he was involved in the creation of Bitcoin. Maybe not the main guy, but at least there. Craig couldn't even prove that he was Satoshi's partner. He wasn't even in the same room with the man. He's a wannabe.
2480  Economy / Speculation / Re: What will be the next move of Bitcoin after $17000? on: November 22, 2020, 10:52:58 PM
17k was never an important level. You could see on the charts that it was nothing but a point where a dead cat bounce ended in 2018. Levels like that don't create strong resistances and we've stormed it without any problems. I think that we'll have to retest 20k soon, probably before the end of the year. If it plays out like it did in the last bull market, we'll break 20k and retrace below it for a while.
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