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2461  Economy / Speculation / Re: I do believe that Bitcoin will be more scarce than gold on: August 13, 2022, 06:47:13 AM
Its not the supply that is questionable so much as the demand growth and utility to wider populations.  If BTC is used and useful then its without doubt we have a rising price because supply doesn't expand.  My view of BTC is as similar to commodities and most commodities will expand production when in demand, this explains why price accelerates so fast upwards in BTC from this unusual constriction vs potentially global demand.

What does it imply when you say expand production when in demand? The production of what in bitcoin? Also, what accelerates bitcoin's price upwards is speculation and too much leverage. It has been like this since 2017 and this is why we have large parabolic pumps that create market bubbles.
2462  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Tornado Cash mixing service is now blacklisted in US on: August 13, 2022, 05:30:23 AM

The reason for this is exactly what you can guess: they have arrested him because of this involvement in Tornado Cash development.

A good read here:
U.S. Treasury sanction of privacy tools places sweeping restrictions on all Americans

This is dangerous nonsense.


Something like "illegal code"

This is a dangerous territory,  and I believe in future we may see regulations over cryptography, saying what someone may code and what nobody can code.

Agreed. This might be something similar to an attack vs. free speech.

This is clearly head shaking. The government's argument for the sanction is because many criminals use Tornado Cash which is not enough as valid argument because there are many things in this world that normal people use, are also used by criminals. Should the DOJ ban cars also?
2463  Economy / Gambling discussion / Re: [Boxing] Canelo vs Golovkin 3 - September 17 on: August 12, 2022, 03:15:35 AM
@Sithara007. There is something within athletes who are real champions that we cannot understand. There is a need for them to prove themselves to everyone that they are the very best. Manny Pacman has this, Tom Brady, Kobe Bryant and other athletes from different types of sport. It also builds on their name and reputation. If it is correctly built, their management team can make much money from it hehehehe.
2464  Economy / Exchanges / Re: Hotbit exchange suspends deposits, withdrawals and trading on: August 12, 2022, 02:39:24 AM
So, a number of Hotbit senior managers have been subpoenaed by law enforcement since the end of July and are assisting in the investigation. Furthermore, law enforcement has frozen some funds of Hotbit, which has prevented Hotbit from running normally.

I expect Some Hotbit customer who notice part i bolded might be angry with the fact they suspend all withdraws. Additionally, legal investigation could take really long time which sucks for both Hotbit and Hotbit customer.

Agreed, however, Hotbit can make a request to open the exchange for withdrawals. I reckon this is what the authorities should allow the exchange to do after knowing which funds and how much should be frozen. In any case, this is a warning sign for everyone and also to stop using this exchange. The skeptical me thinks there is something more behind their blog post.
2465  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Tornado Cash mixing service is now blacklisted in US on: August 12, 2022, 01:30:59 AM
There might be something users can do to make this more difficult for the government to enforce. There was someone in social media who suggested that you can use renBTC to bridge your coins from Tornado into the bitcoin blockchain and trade to Monero then back to Ethereum from there hehehehe.

Developers can fork Tornado Cash with new contracts and new public addresses.
2466  Bitcoin / Press / Re: Whithersoever my coin desires may lead... on: August 12, 2022, 12:19:54 AM
How is bitcoin maximalism presently taken by everyone in bitcointalk?

New policy:  I present myself as a fearsome “Bitcoin maxi” to altcoiners, and I chat about my favourite altcoins to Bitcoiners.  Thus, I can discover who my true friends are.  This optimizes for the human element.  So does intransigent opposition to scams.

I have been intending to write an essay with my own take on Bitcoin maximalism, but I am not sure if this forum is the right place to publish it.

You should write and publish it in the forum, I reckon. I would also like to know your opinion on some bitcoin maximalists who appear to want everyone to believe that there is only bitcoin and bitcoin's failure will be the whole cryptospace's failure without any other cryptocoin having to find and achieve success.

Thanks.  Unfortunately, I will need to cut short what I was writing here—if I ever want to post this.  :-)

To answer that, we first must define “success”.  Is economic success the sole criterion?  Although that is important, I think that economic success is necessary but insufficient.

Bitcoin is freedom-money.  It is authentic cypherpunk-money.  It grew organically as a social phenomenon, in historical circumstances that cannot be artifically duplicated.

If Bitcoin were to fail, I think that “the whole cryptospace” would almost inevitably fail in the way that really matters.

I say this when I own altcoins, and I much like some altcoins:  If Bitcoin were to fail, then any independent altcoin would almost inevitably fail economically.  Bitcoin makes the cryptocurrency market.

If Bitcoin were to fail, I predict that the only “altcoins” that could still succeed would be those backed by massive capital from big banks and VCs.  But those are not legitimate “crypto” in the sense of cypherpunk-money.  Those are merely de facto centralized Fintech payment systems that use some cryptography, and that sell themselves under a veneer of fake “decentralization”.  Some are better in this aspect, some are worse—all of them devolve over time in the direction of giving big banks and insider whales the power that Bitcoin takes away from them.  Worst in this aspect is anything POS, a definitional plutocracy.

Thus, although I disagree with the “maximalist” purity-testing that treats people as sinners for (gasp!) touching a forbidden altcoin, I agree with the proposition that “Bitcoin’s failure will be the whole cryptospace’s failure without any other cryptocoin having to find and achieve success.”  Like it or not.  That is the reality.

I love Bitcoin.  I love it as if it were a living creature.  And I recognize on pragmatic grounds that attempting to replace it would be a fool’s errand, likely resulting in a Pyrrhic victory at best.  Accordingly, I am proud when altcoiners call me a “Bitcoin maxi”; and I tend to agree with them about that.  I say that when I own altcoins, I think that defi has great potential (excluding such garbage as Yield Farming, a classic HYIP scam), and I have some history on this forum of defending the good uses of NFTs.  (Not Bored Ape trash.  The basic idea now called “NFTs” is much older, and it has much undiscovered potential for future applications.)  There are multiple reasons why my signature or personal text has said since 2017:  “There is only one Bitcoin.”

Am I a Bitcoin maximalist?

I love bitcoin also, however, I also try to not be far removed from reality and try not to make very biased statements and impossible predictions. You say if bitcoin fails, nothing else will be cypherpunk money? There is Monero, Grin and Litecoin which can also be considered cypherpunk money. Are they successful? I reckon they certainly are successful alternatives to bitcoin.

Also much of the bitcoin maximalists appear to have the argument that bitcoin is successful because it has the highest market capitalization and therefore it is a good store of value. However, what if Ethereum begins becoming the most valuable coin in market capitalization? That certainly makes Ethereum a better store of value according to their argument.
2467  Economy / Gambling discussion / Re: 🥊 The UFC Info and Prediction Thread on: August 11, 2022, 03:16:36 AM
^  It's a shame that Grasso vs Araujo was cancelled.  That and the main event between Vera and Cruz are the only match ups worthy for a main card imho.  These other ones are good but for prelims.  This event is just like the last event.  Lots of fillers but pretty sure some of the are sleepers...  Besides the main event, Bruno Silva vs GM3 could be good and Landwehr vs Onama.

Anyway, I'm back and forth on who to pick for the main event.  Who you guys got?  Take note that San Diego is where Cruz is from.

There might be 2 fighters who are very much underestimated for this event. The Dominator Cruz and Angela Hill. Similar to what you have already mentioned, Cruz is from San Diego. Angela Hill is also from San Diego. I speculate that if they reach the decision, the judges might give questionable split decisions for the 2 of them. This is not very impossible in the UFC.

Also, another underestimated fighter also might be Iasmin Lucindo from Brazil. She is only 20 years old, however, she has more experience than her opponent.

And for me the fights you see there and that I have not erased are what for me is not able to look at, 1st was the Marlon Vera VS Dominick Cruz which for me Vera will really need to be more technical here, but will look further in details, 2nd Nate Landwehr VS David Onama, 3rd was Gerald Meerschaert VS Bruno Silva, and lastly the fitting kitten last event that has been canceled, Ariane Lipski VS Priscila Cachoeira,

The sexy fighting kitten Ariane Lipski the Violence Queen will be in this next event hehehehee.

2468  Economy / Gambling discussion / Re: 🏈🏈 The American Football Discussion Thread 🏈🏈 on: August 11, 2022, 02:51:27 AM
I joined a mock draft and it appears that a 10 man league is harder than the 8 man league we were playing last season. Has everyone been practicing?

To be honest I just like to use the force when doing the draft. I find its better to go by pure rankings of who's left rather than second guess them with my own personal tastes. Regardless, with covid and all the injuries, the last couple of years have proven that long-term success is more about ongoing team management.

You could get your Dream Team in the draft but when those guys get knocked out (for one reason or the other), it pays to be timely in finding a worthy replacement.

It might also be impossible to get a dream team in a 10 man league. I have been practicing and after the first pick I certainly do not have a choice, I can only use the force hehe. I have this list of players of who I want in my draft, however, in these mock drafts I can only get 1 or 2 of them in my team.

@everyone. Can we have more than 30 seconds per pick? Is this allowed in Yahoo?
2469  Economy / Exchanges / Hotbit exchange suspends deposits, withdrawals and trading on: August 11, 2022, 02:17:17 AM
I saw this breaking news on social media and it appears that much of the people there want to create the fud and make it appear that all of Hotbit's senior team members have been involved in criminal financial activity. I thought it was real, however, this announcement from their website has announced that it was only a former employee and Hotbit is cooperating with the authorities to solve the problem.



Announcement on the Suspension of Hotbit Website Service on August 10th, 2022

Dear Respected Hotbit Users, Because a former Hotbit management employee who left Hotbit in April this year was involved in a project last year that law enforcement authorities now think is suspected of violating criminal laws.

So, a number of Hotbit senior managers have been subpoenaed by law enforcement since the end of July and are assisting in the investigation. Furthermore, law enforcement has frozen some funds of Hotbit, which has prevented Hotbit from running normally. Therefore, Hotbit has to suspend trading, deposit, withdrawal and funding functions.

All user’s assets and data on Hotbit are secure and correct. Please wait for our further announcement about the specific recovery time of our service. Hotbit hereby declares: Hotbit and the rest employees of Hotbit's management are not involved in the project and have no knowledge of the illegal information involved in the project. And we are still actively cooperating with the law enforcement authorities in their investigations. All user’s assets are safe. For more details, please visit

https://hotbit.zendesk.com/hc/en-us/articles/8074249353495


Source https://www.hotbit.io/maintenance
2470  Economy / Service Discussion / Re: Another one bites the dust: lending platform Hodlnaut on: August 11, 2022, 01:25:56 AM
Hodlnaut's problems began when they offered yields if their customers converted to Luna's UST stablecoin to receive yield. What Hodlnaut did was deposit their users' UST to a protocol which was a ponzi called Anchor where the protocol offered up to 19%. Hodlnaut gives their customers 13% and they keep 6% hehehe.

... and now most have ended up not receiving the 13% and not receiving back even their own money.
And I would not be surprised if Hodlnaut has withdrawn their 6% long ago. Because the whole risk goes to the customers (I'm even surprised they've offered such a big part of the profit to the customers).

Anchor as I have already mentioned was a ponzi scheme to encourage stablecoin users to convert their USDT, USDC or DAI to UST and deposit them to the protocol for high yield. Printing more UST also increased the demand for Luna and pumped the price. I reckon the mistake of Do Kwon was not protecting UST's peg when it began falling to $0.98. He waited until UST depegged to $0.90 when everyone has already panicked and withdrew from Anchor.
2471  Bitcoin / Press / Re: [2022-07-14] Nic Carter vs. The Bitcoin Maximalists on: August 10, 2022, 02:10:11 AM
@NotATether. I very much agree, however, watch Max Keiser in this video hehehe.

https://m.youtube.com/watch?v=3Bh3ObPjcFE

Does really believe what he has said when he was tearing a dollar bill or is he continuing the circle jerk for bitcoiners? It would be very head shaking if everyone is taking him and Michael Saylor seriously.

Also, it will not only be the government who will not allow it to happen, I am quite certain it will be everyone.
2472  Economy / Service Discussion / Re: Another one bites the dust: lending platform Hodlnaut on: August 10, 2022, 01:51:36 AM
So... is anybody still keeping their money on various centralized platforms hoping for pennies?
You still don't see how risky is that?!
I bet there are many more people holding coins on centralized exchanges and similar interest earning platforms thinking - it won't happen to them, they are to big to fall.
Many times this services trick users throwing out decentralized terms, adding swap features and connecting with shitcoin chains BNB and UST, like Hodlnaut did just few months ago.
One thing that I hope from all this services stopping withdrawals and going bankrupt is that it could teach more people about importance of real decentralization.

Hodlnaut's problems began when they offered yields if their customers converted to Luna's UST stablecoin to receive yield. What Hodlnaut did was deposit their users' UST to a protocol which was a ponzi called Anchor where the protocol offered up to 19%. Hodlnaut gives their customers 13% and they keep 6% hehehe.
2473  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Tornado Cash mixing service is now blacklisted in US on: August 10, 2022, 01:26:16 AM
Nothing can stop Tornado Cash because the user can still interact with the smart contracts directly. I have not read all of the news, however, there are some people in social media who said that this is the first time a smart contract has been sanctioned.
I'd say since Tonardo Cash is serving an ERC20 tokens which is centralized, I don't believe they can mix those tokens and didn't link with the previous transactions because the validator will know where the token are send to.

Quote
Also, this sanction will be a problem because it can be used against anyone. What if I use Tornado Cash then send those coins I mixed to Binance, FTX and Coinbase hot wallets?
Your account will get flagged by centralized exchanges since they're cooperate with money laundering company, they will look with your previous transaction and will know the token came from. If you using a bad privacy mixer, they will know the address is came from a mixer and even you're using a good mixer, they will know you're concealing your transaction.


However since Chipmixer is also a centralized mixer, I'm worried since it's possible if Chipmixer get shutdown, or it's possible Chipmixer will only available on Tor network? Obviously google will follow any rules from government.

I am not quite certain how Tornado Cash works as a mixer and I will not assume that Ethereum validators can trace where the mixed coins have been sent. Show your analysis with data to prove your claim.

I am also not talking about sending mixed coins to my own account in an exchange. I said send them to exchanges' hot wallets or Vitalik's wallet or also someone can send them to your wallet. What can the government do? They cannot enforce this ban.
2474  Economy / Gambling discussion / Re: 🏈🏈 The American Football Discussion Thread 🏈🏈 on: August 10, 2022, 12:45:03 AM
@ChiBitCTy. Agreed, however, it might not be similar last year where the NFL was treating the coronavirus as something similar to a death causing disease. There might be shorter quarantines this year and there will not be discriminatory treatment on the unvaccinated.

I joined a mock draft and it appears that a 10 man league is harder than the 8 man league we were playing last season. Has everyone been practicing?
2475  Alternate cryptocurrencies / Altcoin Discussion / Re: Investing in Casino tokens such as BFG, OWL or TFS on: August 09, 2022, 03:22:05 AM
And why OWL keeps on going up in price? Honestly their site doesn't seem to be very unique or impressive - anyone has a credible explanation who is behind the price rise of that OWL token?!
Probably because more users are using the gambling platform and they prefer to use OWL token on the gambling site. There can be ways the token is promoted on the gambling site that makes people using the gambling site to buy it. As people that are using the gambling site increase, the token market worth will also increase, thus the price as well.

This is a late reply but everyone should see reality.

This is more because the whales and the project's team controls the market for OWL tokens which is also very illiquid. The market makers for this only needs a small amount of BNB and small amount of OWL tokens on the other side to maintain the price.

This is tokensniffer.com's analysis for OWL. This does not imply that OWL will rugpull because the team has been trustworthy since the beginning, however, the team certainly can if they want to rugpull.

https://tokensniffer.com/token/0x9085b4d52c3e0b8b6f9af6213e85a433c7d76f19
2476  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Tornado Cash mixing service is now blacklisted in US on: August 09, 2022, 02:06:12 AM
What is interesting about this is that the service is actually a piece of code, which can be run locally or in another server.
This the good thing of a decentralized platform, (censorship-resistant) authority can only suspends its website domain or hosting but it can still be used freely.
But since it's dependent to github repo, which can be sanctioned too like they did to Iran and other countries suspending github accounts or blocked the access of github with US request which they will do it lately, after realizing it's useless suspending only the website and not its whole process.
I hope there's also a decentralized code repositories (better if there is already) for decentralized platform's to preserve its codes.

Nothing can stop Tornado Cash because the user can still interact with the smart contracts directly. I have not read all of the news, however, there are some people in social media who said that this is the first time a smart contract has been sanctioned. This implies that there is is a ban on interacting with the smart contract.

In any case, the solution will certainly be to fork Tornado Cash hehehe.

Also, this sanction will be a problem because it can be used against anyone. What if I use Tornado Cash then send those coins I mixed to Binance, FTX and Coinbase hot wallets?
2477  Economy / Service Discussion / Hodlnaut another Cefi lender halts withdrawals on: August 09, 2022, 01:30:40 AM
According to some people in social media, their website used to have a page showing their team members. It is not there anymore. The founder's twitter account has also presently been set to private.

There is a twitter account that calls himself FatMan who has warned everyone against depositing coins in Hodlnaut because it used users' deposits on another protocol. It is assumed their yields came from Anchor the ponzi protocol.

https://mobile.twitter.com/fatmanterra/status/1541101947943620609



To all users, we regret to inform you that we will be halting withdrawals, token swaps and deposits with immediate effect. We have reached this difficult decision due to recent market conditions.

We understand that this is disappointing news and understand its impact on you. We would like to reassure you that this difficult decision was taken for us to focus on stabilising our liquidity and preserving assets, while we work to find the best way to protect our users’ long-term interests. We sincerely apologise for the inconvenience that this has caused you.

We would also like to inform our users that, as a result of the above reasons, we have since informed the MAS of our intention to withdraw our licence application. Hodlnaut is therefore no longer providing regulated digital payment token (DPT) services, ie our token swap feature. For the avoidance of doubt, Hodlnaut will also cease all borrowing and lending services.


Read in full https://www.hodlnaut.com/press/hodlnaut-message-to-our-users
2478  Bitcoin / Press / Re: Whithersoever my coin desires may lead... on: August 09, 2022, 12:55:17 AM
How is bitcoin maximalism presently taken by everyone in bitcointalk?

New policy:  I present myself as a fearsome “Bitcoin maxi” to altcoiners, and I chat about my favourite altcoins to Bitcoiners.  Thus, I can discover who my true friends are.  This optimizes for the human element.  So does intransigent opposition to scams.

I have been intending to write an essay with my own take on Bitcoin maximalism, but I am not sure if this forum is the right place to publish it.

You should write and publish it in the forum, I reckon. I would also like to know your opinion on some bitcoin maximalists who appear to want everyone to believe that there is only bitcoin and bitcoin's failure will be the whole cryptospace's failure without any other cryptocoin having to find and achieve success.

I also want to hear your opinion on the comments of people similar to Max Keiser who said in an interview that all fiat will be going to zero against bitcoin. Is this right?
2479  Economy / Speculation / Re: Bitcoin Market Sentiment Infographic for August on: August 08, 2022, 02:15:02 AM
I may be wrong, but it does not seem to me that we should expect any kind of bull market this year, and probably not even in the first two quarters of next year. It is simply too early for that, and the global world market will only feel the real challenges in the coming months. I will be skeptical even if the price reaches $30k, because then we are just going back to where we were before the idea of the genius from South Korea collapsed. If that hadn't happened, maybe the bottom would have been somewhere around $25k, but that now remains only in the sphere of speculation.

All in all, I'm really interested in how things will play out in August in relation to your analysis, although I admit that I'm more focused on long-term goals.

Agreed. We have witnessed bear markets pump and dumps before which were caused by whales and cryptofunds like Alameda Research through their use of manipulation and leverage. Also, similar to you, I also become very skeptical when analysts like Tom Lee go to CNBC and declare that the bear market is over hehehe.
2480  Bitcoin / Press / Re: [2022-06-28] Bitcoin mining revenue mirrors 2021 lows, right before BTC breached on: August 08, 2022, 01:39:59 AM
One thing I have learned from Bitcoin price history is that it is not predictable at all. There are just too many factors that influence the price and trying to link Bitcoin mining to that, will eventually fail too. We saw several predictions linked to Bitcoin mining when the Bitcoin price took a 80% nose dive in 2020.. and most of them were wrong.  Roll Eyes

We had periods of 3 years between a "crash" and a next "All-time-high" Bitcoin price spike.... so all this guess work is simply a waste of time. Just concentrate on increasing Bitcoin adoption ....and the Bull-run will happen on it's own.  Wink

Exactly, it is completely unpredictable except over long periods:  if usage continues to grow - no matter what the use whether it be transactional or protector etc - and new supply follows the programmed curve, then the price will go up.  It is just that one can not predict anything over shorter timeframes.

If I am not mistaken, bitcoin has been very predictable for the last 2 pairs of bull and bear markets. 1st pair 2012 - 2013 was a bull market then followed by 2014 - 2015 bear market. 2nd pair 2016 - 2017 was bull market then also followed by 2018 - 2019 bear market. The present cycle is the 3rd pair with 2020 - 2021 bull market and with the next market being 2022 - 2023.

Also, leverage has been the fuel of bitcoin pumps and bubbles since 2017. Many influencers in bitcointalk.org have argued that there is no bubble and it has been very clear that they are wrong. I predict that they will be more acceptable of reality during the next bull market hehehe.
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