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261  Economy / Economics / Re: Do you spend more-do you get more? on: June 22, 2023, 06:19:17 PM
In that case, you need sleepless nights, plans, agenda for every minute of your life, less expenses more investments and most importantly- crazy determination towards your goal. That’s how you become rich. This is never easy and it takes gut pain to start with. You have to compromise many things in your life. Starting from your leisure time and friends, parties, weekends without reservations and much more.

The more money you put the more risk you carry and that is why the returns are always high. I am not sure what are your actual goal but to make money you need to “reset” your life once and for all.
262  Bitcoin / Bitcoin Discussion / Re: I strongly suspect a sinister move here. You? on: June 22, 2023, 05:43:03 PM
This is same thing as eating from your right hand or left hand; at the end the food is gonna get into your stomach anyways. What I mean is, Bitcoin or entire crypto space is decentralised meaning any sort of infrastructure that is built will be using decentralised power thus creating that perfect GAP between them and their controlling methods. They might be able to impose the rules and regulations but they would be limited and within the boundaries of jurisdiction they are in.

Whether they bring in big companies, whale investors and bankers, at the end they will reach a border of decentralisation and realise that they can’t do anything here. The point is proven. Let them do whatever they desire to.
263  Bitcoin / Development & Technical Discussion / Re: Bitcoin Emission Intensity has a New All Time Low? on: June 22, 2023, 05:11:12 PM
Wow that is surprising. How come it is reducing if the mining operations are getting more and more difficult and also at the same time various mining farm companies are getting established over the period of time. The proportion is extra ordinary after pandemic and more player jumping means more miners getting fired up. Not just that, the entire mining farm now a days use completely different cooling methods. Such as sink tank, heavy industrial coolers and AC's. This put more burden on the electricity grid. Let us not forget the law, energy can not be created and nor be destroyed and it can only transformed from one form to the another. So to keep the miners cooler, AC and fans release the heat in environment and rest is the story.

Connecting all the dots together how is it possible that emission intensity is actually dropping. Either bitcoin miner number is fake OR Air conditioners are getting energy efficient.
264  Bitcoin / Development & Technical Discussion / Re: The Lightning Network node experience on: June 22, 2023, 04:34:34 PM
Quote
My node has successfully routed 143 payments (until the 31st October) with ~0.09 BTC capacity and 5 active channels. Here's a breakdown of my earnings from payment routing into each month:

Hey fellas, read through the thread but I’m not sure if I understand what’s payment routing and how you guys are making money out of it. Is there any step by step guide on how to set up this and run it on a PC.
The Lightning Network is a... network... of bidirectional payment channels. Visualizing that looks something like this:
[...]
1. I have a pc which I can keep running 24x7
If you want to route payments, you do need a 24/7 running PC, yes. It can be a cheap old beater, though, as shown here: [Guide] How to run a Bitcoin Core full node for under 50 bucks!

2. Do I need any sort of mining equipment, if yes then what’s for the LN?
No, there is no mining taking place.

3. Am I right to think that it is peer to peer based system, through this system I become a middle connector and get paid for forwarding the payments?
That's correct. More reading here: https://bitcointalk.org/index.php?topic=5158920.0

If there is ready thread on how to perform above actions then I would be grateful if a link is shared for the same. I saw another thread from the OP but that was again above my head. Basically I have zero idea about this so guidance is appreciated.  Smiley
If you want to start from scratch, I have this regularly updated guide:
[Guide] FULL NODE OpenSUSE 15.3: bitcoind + electrs + c-lightning + RTL

The message from you is so clear and right on the point. Thank you very much for sharing everything. Specially the last thread is very important. Looking at the configuration I am already set with the old laptop which is laying around doing nothing. I think I can really use it as my playground and start doing some serious stuff on it.

One point I read about hot wallet and how it could get buggy and funds may get stolen, do I need to have antivirus software or something which can block such external access or it's just nothing about that?

In your full node thread you have mentioned about 4 different software that is Bitcoin Core, ElectRS, C-lightening, Ride the lightening. Putting yourself at my position and thinking I am completely stranger to the set up, which one would you chose to get started with? [ in terms of complexity of set up]
265  Bitcoin / Bitcoin Discussion / Re: Hold Bitcoin VS Hold Gold on: June 21, 2023, 06:33:43 PM
How about both assets equally or with distributed investment in both of them. I don’t know why make so much discussion if anyways we are going to listen ourselves and see our investment and manage our investments by all ourselves. Why bother in discussing which one is better. Both seems to have their own profoundness with historical importance. It is already known that both type of assets mentioned will keep growing in terms of pricing because they follow the rule of demand & supply. I think it’s not very long when we will see people trading ton of money for both kinds. I consider one as physical, sovereign type of asset while other as digital, modernised asset. They carry lot of value and that’s important.
266  Economy / Trading Discussion / Re: How to use the Bear Flag pattern and what to look for? on: June 21, 2023, 04:10:59 PM
I am not sure if I will ever understand the seriousness of trading view and technical analysis but for the hardcore trader and new comer this article is just great help. Just lovely how you have extracted detailed info about it. I think I have seen some other thread in similar ways, may be it was you only and the cleo Website.

I don’t really believe in TA to the fullest. The pattern you shown, how is it based on and what are the “chances” that it will bounce back at particular period of time as shown in the trading charts above?

Let us say I learn the TA to fullest of my knowledge. How do you concur about the events repeating themselves so keenly?  Consider me curious and naive in TA.
267  Economy / Gambling / Re: FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest on: June 21, 2023, 08:26:25 AM
@BayAreaCoins wow that's definitely not shabby at all lol and 5000 refs is not a small amount, imagine them winning Lambo and you getting a cut (even just from ref interest!).

Also anyway I noticed a couple of days ago actually that the betting options for FUN price was a bit too good to be true, with a week til closing, and price even going 50% up would still cause you to win the 1.01x. Not bad huh.

I am not sure if the cut is given for the extra winnings as well? By extra winning I mean to say anything that is won from the freebies. If it is paid out then man, I am sure they are earning hell lot of commission on daily basis. For example, out of 5000 people there might be at least couple of hundreds who are premium members and rolling the WOF on daily basis.

Imagine the amount of commission this dude is earning from them. Are there any other members who has shared their story of referral with freebitcoin website. Because 5k refs, the commission and everything, it's just insane.

Is there a chance they might be earning 10-50K sats only daily basis just from the referral free rolls? Thats insane.
268  Bitcoin / Development & Technical Discussion / Re: The Lightning Network node experience on: June 21, 2023, 07:06:51 AM
Quote
My node has successfully routed 143 payments (until the 31st October) with ~0.09 BTC capacity and 5 active channels. Here's a breakdown of my earnings from payment routing into each month:

Hey fellas, read through the thread but I’m not sure if I understand what’s payment routing and how you guys are making money out of it. Is there any step by step guide on how to set up this and run it on a PC.

1. I have a pc which I can keep running 24x7
2. Do I need any sort of mining equipment, if yes then what’s for the LN?
3. Am I right to think that it is peer to peer based system, through this system I become a middle connector and get paid for forwarding the payments?

If there is ready thread on how to perform above actions then I would be grateful if a link is shared for the same. I saw another thread from the OP but that was again above my head. Basically I have zero idea about this so guidance is appreciated.  Smiley
269  Economy / Economics / Re: Connect data to accelerate cashless payments on: June 20, 2023, 05:28:26 PM
The current world couldn’t be complete without cashless society. Things are changing to more digital levels no matter what. You walk into a store, mall, snack center or anywhere you can think of you will see there is way to pay digitally. I am going to be quiet honest about country like India where even a small store or vegetable seller will be carrying the UPI QR codes mate!! Just imagine what is the situation in developed countries just by looking at this example above. Have you noticed how crypto currencies are also changing the face of transactions. Various digital platform accepting crypto currencies whether bitcoin or Altcoins anything can be possible through third party apps and much more. So that is that, it will even go further and set new records in the new future.
270  Bitcoin / Development & Technical Discussion / Re: Bitcoin block halving a criteria for Bitcoin survival on: June 20, 2023, 03:36:10 PM
The foremost reason is it’s long term sustained release. This is creating that Swift movement in the chart view of Bitcoin if you have seen that already. Remember how the Bitcoin price chart if set to all year till date, how it looks and create an exponential growth 📈 over the period of time? For every Bitcoin halving we have seen one common thing, there is dip, then there is up surge and then there is again bigger dip and then based on that four years event it will go on with ups and down. However, it always been unidirectional. Never seen bitcoin dropping sharply below any prices of the year till date.

May be that states pretty much everything why the algorithm of mining was made that way.
271  Economy / Trading Discussion / Re: What are the steps in understanding technical analysis? on: June 20, 2023, 12:54:17 PM
As a newbie in the crypto space, I want to know the steps to take to be able to understand technical analysis and also know how to enter a trader.

Technical Analysis is astrology for traders. It is dressed up to look like a science, but it is really just based on myth, fantasy, wishful thinking, and confirmation bias.

People who promote Technical Analysis are just trying to extract money from the fools who will believe anything they see, or at best they are trying to impress people with their fake expertise.

This kind of makes sense isn’t it. All the brokerage firms making buzz about the tools they have about the price prediction and so called trading view. You pick any app over the internet, everyone will have trading view and basically they become expert in the field immediately. In reality all they have is open source UI and algorithm which runs same set of information and gives the results to us. I don’t know but you don’t even need to worry about the TA to be done by all yourself. The Call and put options / way of trading is even crazy. The software tells you how many of them buying and selling and they tell us to follow the same. Isn’t this is spooky?
272  Bitcoin / Mining / Re: Free electricity, just the equipment left. on: June 20, 2023, 11:34:46 AM
I live in a federal school environment, and as a result, we have free-constant electrical supply, which I was expecting to put to good use by mining bitcoin with.

Here's the question(s): Is there a website where I can buy used mining equipment at a low cost? And, if I intend to purchase all of the essential equipment using this technique, what is the estimated cost?


It would also be helpful if you could provide me with a list of the items I will require for mining. Thank you.

The Russian Criminal Code has Article 165. "Causing property damage by deceit or breach of trust."
Miners in Russia are judged by this article, and they do not steal electricity, but only mine in their homes and pay for electricity at a cheaper price.
And in your country there are no similar articles in the criminal code?
Electricity for schools in Russia is free, it is paid by the state, but if it is used for mining, then this is a crime. Think about the risks first, you can't hide the Asics, its works loudly.

I'm aware of that, but in this case the electricity is connected directly to my dad's house. I'm not trying to tap into the school's electricity illegally all I'm trying to do is to try to use the electricity for something meaningful, the only thing that the electricity power in my dad's house is our Air conditioner, pumping machine, Tv sets and some other electrical outlet.

I'm not sure if using an electricity that has been connected this way would still be considered as a crime?

Ahh, I dont know. I think you should recheck everything about the free electricity. There has to be system set up to check how much electricity is being consumed by the federal school. At the end of day it might not be you or you dad but it would be government who will be carrying that burden. Its logical they will have to maintain the technical burden at all times. If they see some irrelevant spikes in the usage then I am sure they will track down the house which is consuming more than enough electricity - unusual.

Coming back to the mining operations well @philipma1957 should be enough to answer everything for you.
273  Economy / Trading Discussion / Re: If my annualized return is above 50%, am I doing well? on: June 20, 2023, 11:12:02 AM
Hey OP, too many spaces in your post, I am not sure if you are posting from mobile view or desktop but that looks too unformatted.

Well, coming back to the returns form your methods, they are just fabulous. You should consider it as win-win situation because we are already in the bear trend of the market. Not just the crypto but all the stocks and share markets have fallen badly since pandemic and war, natural calamities etc, you name it. I mean I have seen myself happy with the 15-20% annualized returns so there is no doubt that you have just outperformed your stay in the crypto trading.

Moreover, what amuses me is, all of this is from the altcoins trading and that's super risky asset so far in the trading. Its good that your portfolio was chosen pretty right. I am not sure if your methods are unique or orthodox, but you should stick to them since they are working for you.
274  Economy / Economics / Re: The cost of living is trying to kill the living on: June 19, 2023, 06:33:09 PM
Unless you are the owner of the company and does have a vast network of investments, then you can somehow say that you can really survive without worrying about the inflation because you are always producing funds even if you're sleeping.
Even the owner of the company is also stressed about the impact of ongoing inflation because the company's financial management is not optimal and in the end many employees are fired to reduce the company's financial expenses, so his opinion above is very inappropriate because he can survive with the impact of inflation forever and he may earn high from his current job .

The government has an obligation to overcome the impact of inflation that occurs in the economy. Many steps of government work must be implemented to overcome the effects of bad inflation, the government must encourage local products, maintain price stability so that people's purchasing power is still sufficient, the government must be able to control imports so that the prices of local goods remain stable.

This is true as well. Many think that company owners, business or entrepreneurs can live very happy life even in the time like this. However it is them who are first hit very hard and that’s why the effect is percolated down the sink and then reaches to the common man. In this case it reaches to the employees of that company. However you or me cant blame the owner because for the long term business survival they will always have to look after their company revenue generation system and do the accounting. This is ti safe kering their company or business and not for themselves. What would all the employees do if company got shut right away? It’s better to have few losses as compared to entire colony getting abandoned with the inflation. Might be hard to digest but truth always hurts. Just save money and try to have more income sources. That’s how we survive.
275  Economy / Economics / Re: The new U.S.-China agreement is a "forced friendship. What awaits the world ? on: June 19, 2023, 05:50:07 PM
USA is definitely one mysterious country that no one would ever understand. First they send out their secretary to visit the Taiwan when China threaten to have Air strikes on Taiwan. This was done to show the support against any attacks from China and to showcase the gesture of friendship with Taiwan. Now same US is going further and having hand shakes with China to have peaceful treaty. It’s funny. Or may be it looks like US also forgot about the spy balloon that was sent over to them. What is hard to understand for such highly advance and modern country? Have the China threaten US government in some way and this is what we seeing right now. Have they planted a even bigger biological attack than what we had during pandemic?
276  Bitcoin / Hardware wallets / Re: Impossible to Solve Ledger Live Crash on: June 19, 2023, 05:09:41 PM
Good to know that your problem has been resolved already. I think we should really look forward to note down the points mentioned by this thread and save ourselves from such crashes. Well I was more interested in the topic because I also own one nano ledger and it would be better to have such topics handy for any future references. My ledger is really good so far. The only problem starts when we don’t turn them on for very long period of time and forget to upgrade the firmware and software. In my case the only issue was firmware update and I realised that when ledger wasn’t working very well. Not real glitches or something but it used to stuck with misplaced info about balances. It was well known Issue so it was resolved immediately after I updated the firmware.
277  Bitcoin / Development & Technical Discussion / Re: Create a seed from a selection of words on: June 19, 2023, 03:26:49 PM
Adding to the above discussion is it really possible to scramble the words that we actually receive from the automated generator? I don’t know depth of it, but when we generate any address the phrases are already associated with it and there is no way we can change it. I am saying the first time change when we generate it. Let us say I have newly generated address and creating a wallet with Back up keys. Wallet has given 12 words but I want to change them right away manually, why isn’t that possible?

Is it possibly because someone might overlap with my words and sequence? (Though this may not happen considering the 12 words and their numerous combinations. But just curious about the technical explanation behind this.
278  Bitcoin / Bitcoin Discussion / Re: Is there a glyph for a Satoshi on: June 19, 2023, 11:23:08 AM
May be we should create completely new symbol for the Satoshi. Using the existing one mean nothing much but copy pasting the symbols. No Latin, chinese, mythological symbols; we should go all in with the new symbol. I think mixing up the names, may be some technical word from the mining operation, or program that we could find on the Satoshi paper should be used.

We have seen repeated currency symbol just updated with slight designs so they are mostly boring. For example someone might just come up with “S” which is put in horizontal and making it new Satoshi symbol.

We should host contest in Meta section for this new glyph. 😋
279  Bitcoin / Development & Technical Discussion / Re: How to start wallet development? on: June 16, 2023, 08:10:54 PM
I think they should create a software wallet which will generate the offline paper wallet (kind of) and secure that particular space for that address only. The wallet should not allow users to use the funds until the desired time is passed and also it would turn the private keys visible only after that period of time has been passed. This could be form the best mechanism to use non custodial wallet with additional restrictions to save the bitcoin from getting hacked or stolen in the process. Best for the old people who like to read and write and have patience too. What do you think guys?
280  Economy / Trading Discussion / Re: The reason of why Bitcoin is good for trading (for me) on: June 16, 2023, 07:37:08 PM
First of all I'm not a real trader, but I like to trade to earn small amount profit.

I only use BTC/USDT pair because USDT make me easier to determine how much my coins worth after trade and most liquid stable coin, the reason why I choose BTC is I don't need to worry about it when my trading goes wrong. So if I bought Bitcoin at the peak and the price keep decreasing, I will not sell it, but I will wait for the next super cycle where Bitcoin usually break new ATH.

Keep in mind I never learn about chart, candlestick, trend etc, all of my decision come from my mood and instinct. No stop limit, no follow any signal, no watching my PC for 24/7 etc, just directly buy and sell.

Is there anyone like me here? Cheesy

Oh yes count me in mate. There are definitely more than enough people who are like us who are just trading to earn small profits and do not understand the sticks and charts. I have started to read about the trading patters in general for now. Just the basic stuff but I am not sure if I will go very far with that. The first case scenario is very simple, I am more or less HODLER of bitcoin rather than trading it for small profits and big losses. It is always or most of the time second case which would happen to me so I am always staying away from the whole trading thing. The only time I would trade is when there is high margin in between my entry point of Bitcoin price and the exit one. I would just book whatever profit it is and start my hodling process again. That's the only trading I can do with my bitcoin.
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