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2501  Economy / Speculation / Re: How low is Bitcoin expected to drop? on: September 16, 2022, 08:59:50 AM
I agree with mk4. Projections don't matter. Even more, the lowest point will probably be short-lived and doesn't matter that much.
Still, it's usually expected that the lowest point is reached nearly at the end of the bear market, hence, since we've already had 17953$ in June, going lower than that would not be unexpected (but I cannot say it'll happen).
Some charts I've seen had the lowest point under 10k. I hope we won't get that low (I expect the bear market end this year), although I fear of the effects of ETH going PoS and hence dropping big time.
2502  Other / Meta / Re: Reee: How would bitcointalk community react to bitcointalk nfts on: September 16, 2022, 08:51:48 AM
What exactly do you mean by "implementation"? The blockchain? That is what NFTs are implemented on. Some are even implemented on the Bitcoin blockchain (some of my favorite ones, as a matter of fact).
[...]
OpenSea is a business, but its not where the NFTs are stored, so in essence the NFTs themselves are only as centralized as their blockchain. Sure, the metadata of some NFTs is mutable & prone to hacks but its a far cry from all NFTs... for some NFTs the metadata isn't important at all and its only the token itself that matters, which cannot be hacked, so much as a blockchain can be hacked.

The blockchain part is OK. But linking it to data stored by a business on its database is not OK. That's the implementation I was telling about.
Are there any NFTs that don't have "the metadata" on various companies' servers? I am not aware of more.

You're making sweeping generalizations to paint all NFTs with the same brush to further convince yourself that your pre-conceived viewpoint is the correct one. It's all based on limited knowledge an extremely nuanced subject.

This is the part that made me stop believing in NFTs as viable tech. Of course, if you have good example/explanation to prove me I'm wrong, I will be happy to see it's not everything lost.
For now I see it a hype based on an incompletely baked idea/tech. And hype is .. nuanced (see, I can say that without using strong words).

Here you've stated an opinion backed with zero reasoning behind it, not much I can do with it.

You didn't manage to convince me that my reasoning is incorrect.
2503  Bitcoin / Mining / Re: MINING BTC VERSUS DOLLAR COST AVERAGING on: September 16, 2022, 08:31:14 AM

It was said many times before: investing and mining are 2 types of business, for different types of persons, for different mindsets. Both have their risks, both have their benefits.
Some prefer the apples, some prefer the oranges, others prefer both the same; it doesn't make one better than the other.
This being said, pick the one you think it's better for you.


PS. Some also compare holding mined coins with holding bought coins, but that's imho a mistake in the logic.
2504  Other / Meta / Re: Reee: How would bitcointalk community react to bitcointalk nfts on: September 16, 2022, 08:25:18 AM
Funny you should mention it -- this is actually what I did, but in reverse: your avatar IS the NFT. The image attached to the token changes when you change your avatar.

I will start that the other thread was not clear about that (or I've just missed it, and many others).
Still, some value their avatar, while many others don't, or just rent it. And here one point - maybe interesting for some - could be that maybe certain companies or signature/bounty managers could get interested in that.

NFTs today remind me so much of Bitcoin in 2011.  It's so obvious they're the future, but everyone is so dismissive.

NFT may be a good idea, but imho the implementation is bad, hence comparing it with bitcoin is inappropriate.

Many don't see in the current use of NFT more than childish images. Many have came with - imho good - points that currently NFTs are pretty much centralized (Open Sea) and the blockchain information points to an old school server / database with all the problems of that (mutable, prone to hacks).


If you don't believe in any of this, then I have to ask, why do you believe in Bitcoin?

Maybe I'm wrong, maybe other bitcoiners are wrong too, but asking "If you don't believe in any of this, then I have to ask, why do you believe in Bitcoin?" is imho a big step in the wrong direction.
2505  Alternate cryptocurrencies / Speculation (Altcoins) / Re: ethereum switch from PoW to PoS on: September 16, 2022, 07:33:02 AM
from over $940 to under $35

i will let you discuss how much of a X multiple 'speculation bubble factor'. the market should remain at

enjoy the thoughts..

oh slight hint.. expect ethereum price to continue to decline until it corrects to a good value new low

Nothing unexpected for me until this point (nicely done calculation though). I had long ago some experience with PoS coins and their price went lower to even lower until some even got delisted for low volumes.
Ethereum has all the shit tokens on it (ok, not all, but most); I expect those may also fall (if nothing else, at least the panic).

And my question/dilemma is... how will Bitcoin handle this, at least on short term? I'd expect another leg down, like when various DeFi "businesses" crashed, especially as the bear market is not over yet.
But how low will that go? Or am I wrong?
2506  Bitcoin / Electrum / Re: Received Bitcoins were instantly gone on: September 15, 2022, 09:50:11 PM
Not sure if the script is the culprit here. The outgoing transaction is 10 minutes after the incoming one. Scripts are usually activated immediately after the first confirmation.

Sorry, but you're wrong. The two transactions:
Code:
ddcfe5fd98cf4418c926b0d9b61b8fdcc85f0034614b3c1a5530a7c821b357ab
1d7e75d00847a550983185c6cd3ceb011f5ad5daefd81f62f38fef061482ff00
were both mined/included in the same block (754092). You can look that up on mempool.space. No 10 min difference.

Of course then that they have both same timestamp, as DireWolfM14 said.
And this is usually automatic.

Still, manually made transaction should not be ruled out, since one could have been notified when the tx was sent and not at the moment of getting confirmed, allowing (giving time) somebody spend the unconfirmed input (I expect the scripts work exactly the same, just faster), which will have the same result: both tx in the same block.
2507  Bitcoin / Bitcoin Discussion / Re: OpenNode is testing Bitcoin payments with the Central Bank of Bahrain on: September 15, 2022, 03:30:05 PM
Companies like OpenNode will clearly help Bitcoin adoption all around the world

Companies tend to care mostly about their income. If bitcoin adoption helps their income, then they will help in that. But don't expect miracles. (Still, the news is good.)
I also expect OpenNode develop some pretty much centralized solution "to save fees" (and be able to work mostly with IOUs).
It's good that they can handle both LN and on-chain tx, but I fear that the centralized solution is what they're eyeing. I hope I'm wrong.
2508  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: September 15, 2022, 03:22:05 PM
Is it just me or has Resistance remarkably weakened?
Bulltrap incoming?
Pump incoming?
Antoher round of long liquidations?

Hard to judge, in this crazy market era  Huh

I would not be surprised bitcoin drop be triggered / dragged down by the wonderful ETH that afaik it went today into the bin of (ever falling) PoS coins.
But I've made already a mistake on my price expectations not long ago, so.. what do I know?
2509  Other / Off-topic / Re: Gamma-Rays (5G) Network With Bitcoin Transaction Speed on: September 15, 2022, 03:15:16 PM
And 5G network brought covid 19.

I've stopped reading at this point.
The people on bitcointalk are smarter than this. You'll better find "customers" for this "story" (full of errors, and I'm being overly nice telling like this) on some flat earth believers forum (but of course, they will not know nor care about bitcoin, what a dilemma..)

PS. 5G is just another type of network and you like it or not, my fiber optic cable beats 5G.
2510  Bitcoin / Electrum / Re: Received Bitcoins were instantly gone on: September 15, 2022, 03:07:21 PM
As all have said, the wallet is compromised. Maybe your OS too.
This means that you should no longer use any address of that wallet, this means that you should create safely (fresh OS, maybe hardware wallet) a completely new wallet.

I think that the rest was covered by the previous posts.
2511  Bitcoin / Bitcoin Discussion / Re: The impact of bitcoin on world population, what happens when the population rate on: September 15, 2022, 03:03:38 PM
If the world population increases, it will have a significant impact on bitcoin. The more people there are, the more money is going to be spent on things like food, water and electricity. This will lead to increased demand for bitcoin as a currency.

You've started with outdated information (which I see it was corrected by aothers), then came up with a relation that doesn't exist.
Most of the world doesn't know and doesn't care about bitcoin. And they can spend their money just as good.

If bitcoin adoption will rise, it will happen because more will trust it for investments, or more businesses will accept bitcoin as payment method. At this point the size of the world population doesn't matter in this equation. And whether this will change or not in the future we don't know, and neither of the linked things doesn't give a clue in that matter.

So sorry, all this is your wishful thinking.
2512  Economy / Service Announcements / Re: [ANN] CoolStorage.org Real time BTC/USD conversion app since PREEV.COM is down on: September 15, 2022, 02:45:26 PM
It's always good to have alternatives, thanks!

It's one of the most worthy ones, imho.

Too bad that the domain isn't simply preecs.org without the "coolstorage" addition. It's more catchy and easier to remember.

After the first use, my browser is already auto-completing the full URL after I type preec. So imho it's not such a big issue.

I almost didn't see the two buttons to switch between dark and light mode. I thought they were refresh buttons. I think they would be more useful at the top or the bottom of the page and with a different icon. A lantern or something similar.

This is something I agree with. Those need better icons/better visibility.
2513  Other / Meta / Re: How would bitcointalk community react to bitcointalk nfts on: September 15, 2022, 02:41:01 PM
A big part of bitcointalk community is into bitcoin only.
Another big part of bitcointalk users pretend to care about altcoins only because they get them some extra bucks.

This being said, NFTs come and go and most don't care about some gifs they don't understand why people pay money for them (why pay for gifs of questionable quality?)
Even more, bitcointalk NFTs could mean that bitcointalk endorses them and/or the NFT "scene", which I am sure bitcointalk doesn't do.

So no, this is a bad idea.

As a proud, although somewhat neurotic fish, I will agree to the question: wtf is supposed to be the relation between bitcointalk (and its users) and some pandas?!
2514  Economy / Economics / Re: Companies Are Hacking Their Way Around the Chip Shortage on: September 15, 2022, 01:29:21 PM
Tesla shipping cars without USB ports. Ford selling cars without heating controls. Both with plans to add components later as they become available.

I had no idea supply chain disruptions were still so severe in 2022.

It's bad. I've heard of things like you said. Even more, it has happened that one was requested to pay the advance payment for a new car and the dealer could not give a deadline at all for when the car will be delivered (and ask "you prefer me to lie to you?"). Plus they all got more expensive.

But both EU and US are pushing the creation of new chip factories, so this madness will end soon (although the energy madness may drag the things a little more). Hopefully in much less than 2 years.
2515  Economy / Currency exchange / Re: buying BTC as big amount on: September 15, 2022, 01:21:07 PM
approx. 20,000,000.00 USD (included escrow + traffic fee)
money'll send from a gulf country bank.

Please do not reply if you think this post is scam !!!

This may or may not be scam, I don't even care and you know why? Nobody sane would do business with such amounts of money with you.
This being said, I recommend you either use exchanges like everybody else, either go with much smaller amounts and 100% anonymous and irreversible means of payment.
2516  Economy / Economics / Re: "Be your own Bank with Bitcoin" - A reminder why this is so important! on: September 15, 2022, 01:15:43 PM
These incidents are eye openers for those people that have a lot of money in the bank, no one's money is safe there anymore.

People tend to forget that fiat money is basically IOU papers and they're usually the property of the central bank.

Money in the bank account is just a number. And a bank is a private business, hence they care about their business, not about you. While in EU there are now laws protecting the funds under certain limits, this is rather new, this is only in EU and even there... laws can change. Plus I will not even start with the crap they're doing lately because of crypto, hiding under the "in the name of KYC" blanket.

But as said, Bitcoin is also not perfect, since it's easy to steal and hide. This being said, being your own bank is, sadly, not for everybody.

However, with a bit of carefulness, Bitcoin is clearly superior. And being your own bank certainly gives a nice feeling Smiley
2517  Economy / Gambling discussion / Re: F1 Formula Sports Racing - Sportsbet.io promotions & discussion thread on: September 15, 2022, 12:59:48 PM
Vettel coming back ? Are these rumors ? Having any truth behind it ? or simply speculations?

From what I heard Vettel may indeed "come back", but not as driver. He may come in charge of the rules / changes needed in F1 for making it (much) more climate friendly.

There are far too many young drivers who want seats in F1, and Seb is the "keep his word" type of person, so I think that (unfortunately!) expecting him to come back as a driver is too much and has no basis.
2518  Bitcoin / Bitcoin Discussion / Re: A website that shows important dates of Bitcoin as a calendar on: September 15, 2022, 12:53:58 PM
It's a nice looking website, but they have to work a little more on it - from possibly missing dates to making it fit better on screens (in my case it fits only if I reduce it to 75%).
But since it's made only to advertise Coinkite and the products they're selling, I fear that there won't be much of effort put into that page (however, it's already pretty good).
2519  Other / Beginners & Help / Re: Is Bitcoin private enough for freedom financially?? on: September 15, 2022, 10:36:49 AM
Financial freedom is usually seen as having enough money for a good life / for the lifestyle you aim for, hence it's not about KYC.
I wanted to start with since your topic is about something else and may confuse some.

What you want is your money not getting linked to your identity. And for this there are plenty of solutions, all getting discussed here now and then.

* use, where possible, non KYC exchanges and other P2P options when buying bitcoin (and of course, the fiat you pay with should also not be tied to your name)
* you can go some steps forward by using Tor, and/or mixers, and even use (atomic swap?) of Monero, if you know what you're doing and also acknowledge the possible risks

* make proper use of change addresses and the multiple addresses in your wallet (when you buy and when you spend too)
* use your own node
* use your own block explorer

* don't brag about how much coins you have

One arguably extra step could also be to pay your taxes and then you don't need that strict protection of your privacy.
2520  Economy / Economics / Re: MAP of cbdc adoption over the world. on: September 14, 2022, 12:58:32 PM
A CBDC is still the local fiat currency. In which case, it isn't really a replacement of international financial services like Visa, Mastercard, Paypal, and others.

That's correct. But having "government approved" wallet(s) for the CBDC is just a tiny step forward, and then the people will be able to pay with that wallet via smartphone, instead of paying with Google Pay/Apple Pay with the Visa/MasterCard cards enrolled.

And I guess, although this may highly vary from one country to another, a CBDC implementation does not eradicate payment solutions like the ones mentioned

Indeed, my use case works primarily inside the borders a certain fiat currency already works as legal tender.

To my mind, and based on observation, the government would continue to accredit third party payment providers.

Then they may have no "selling point" for those CBDCs. I mean the shops will have no benefits to accept that, the users will have no benefit to use that, only the govt has benefits, from surveillance and control to less money spent to issue the old/existing "paper".

As a matter of fact, I don't believe that a country implementing a CBDC would only allow a single government-operated wallet. It's likely that there'd be a number of them, privately-operated mostly.

If so, I fail to see what entity can actually benefit of CBDCs.
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