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Unfortunately I do not think that miners are happy .
We should understand that most of the small miners are out of the business because of halving and therefore this increase in fee was their failed attempt to keep in line with everyone.
They have to keep the network running at the same time if they won't be able to earn much , won't be able to pay bills and at the same time make some money it will be problematic for us only.
Maybe this was done to neutralize the decrease in hash rate that was due to halving.
At the same time I do think we have nothing to worry about since in a matter of days the issue should be taken care of otherwise people will stop using it .
Plus Bitcoins can never grow with this high fee when they have competitive market out there , there is not just one cryptocurrency but rather 100's of them .
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In Russia if you go and buy Bitcoins with cash , you will be taken to jail . It's illegal , one should understand that government is trying to track down everything , from Cash flow to cryptocurrencies buying and selling.
They for sure knows your funds and I do think it is really hard for them to understand to give people a little privacy.
If Fiat looses its value , I do think Cryptocurrencies would emerge as the saviour , the long fought war against the government would be already won .
Cryptocurrencies are amazing , they do have a lot of applications as for today , I do think people should learn more about it because if it keeps going like this there won't be much time left for the Fiat .
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I have been reading a lot of articles on the forum and i have to say a lot of people are already giving up on trading due to some minor/major setbacks.
I write this article today to explain some few reasons why i think people are not really comfortable with the trading environment.
1. Lack Of Proper Trading Education
A wise man once said " Lack of education causes lack of progress which in turn causes lack of motivation". Most new traders have a common believe that the trading market is a Fast Money Producing market which is very wrong. Instead of learning the basics of trading and develop a reliable trading skill they settle for Signal groups or end up investing in a scam so called (money multipler groups).
2. No Risk Management
I am a victim of "No Risk Mangement". In my earlier days of trading, i always try to maximize profits neglecting the probability of the loss if a trading day/week doesn't go my way. The market is becoming unpredictable day by day, therefore traders new or experienced need to have a proper risk management regardless of your analysis of the market. I personally enter a position with 3 -- 5% risk of my total equity.
3. Lack Of Patience
The trading market is not always green or red, it's unpredictable as i mentioned earlier so there will be good and bad days for a constant trader. The aim of all traders is to at least 10X their loss in profits but if this is not the same for you, you need to be really patient with the market and try and go through your analysis and strategies all over again. Sometimes it might even require you changing the pairs you trade.
Additional information and advices would be appreciated. Thank You, Stay Home, Stay Safe.
Apparently most of the people I do think are :- Scared to loose money Cannot invest much time I do think in trading one needs a lot of time and ofcourse , even a single mistake can cost you a lot . It is really hard sometimes to keep track of the market , the prices changes every second and therefore most people unfortunately have that negative feeling that they won't be able to perform better . At the same time their past mistakes makes them really think about doing it again . Contrary to popular belief I do think trading is actually not about luck , but rather it's Time , Investment, Strategy . It is an art , the person who knows how to do it can actually become rich in a matter of days I would say . |
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It is possible to live without banks .
Years before people have been living without any banking system , but the population was not that big .
They need a reasonable body which can control the economic situation , banks do a very important job , the lending was in the past done by the rich and they did have very unreasonable rates.
I do think it is possible but won't do any good .
For most startups and business , usually banks do an amazing job , many students do take special loans from them to complete their studies.
They have safety deposits for multi-purpose
Online banking is actually a very very important part of the society right now , without online banking cryptocurrencies won't be there
We can buy and sell the cryptocurrencies and other goods , we can trade because there is an online method enabling us to find people to do that with .
Banks are not a safe heaven but at the same time they are much needed resource for the community as a whole .
Community is not dependent on them but they do a good job let's leave it at that .
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Okay , I would like to answer your assumption based on another probable assumption.
Craig Wright is 50 years old right now , note that He is not Mr. SATOSHI no matter what he says , but he does belong to the earlier adopters .
We will consider the age of Mr. SATOSHI to be 50 year old as well +/- 5 years.
This age group is likely to be affected be Corona virus but at the same time the recovery chances are Preety fair .
There is no medical stats to support anything related to Corona virus , but if he was affected , it would have recovered easily from it after good care in a hospital considering he does have Bitcoins , a lot of them.
He is someone who does spend a lot of time on computers and therefore I do think he would be inside for most of the time and this time would be actually beneficial for him , like a dream come true .
So considering the following assumptions , I do think he is perfectly healthy and happy , maybe making a newbie account and reading our comments periodically . (Hi!)
-lol-
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See if people are actually doing something because the government cannot provide them with financial security , they should not take that away from them..
It is very very important to understand that everyone struggles but at the same time it is important to recognize that if they can take care of themselves by holding gold then it is not an offence.
In many cultures holding gold is actually in the culture itself, last time I checked the country is not defined by only one culture .
If they do that they will being emotional upset at the same time it will be a ridiculous law considering how most people who are actually making the law would also be holding some amount of gold.
It is considered a safe investment and at the same time it is a safe investment , hopefully the law won't be passed.
It's like taking people's freedom away !
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Answer to all your questions would be : Basic things needed to take care of family.
For the second it would be : Bitcoins and other new ICO token coins , because the government is literally not doing anything and unfortunately everyone is jobless and suffering therefore I will place my best bets with safe trading and if I lost more than 10% , would encash out instantly since the time is dire and whatever you loose would affect your family and you too .
I would like to extend this thread to tell how we should start saving up and taking care of our situation since I do not think we would be on the track soon enough.
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First thing I do think one should realize that Money can never be printed from thin Air .
No matter what is done , one should understand that if the government is going to print money it is going to take a toll on their values as well .
If the cryptocurrencies are doing it , it's all based on carefully calculated algorithms , plus mining does require a lot of input , one should understand that nothing can be created out of thin air. It is a lot of hardwork and years of patience.
Unfortunately government has to sometimes print money , during this pandemic they have to actually go and pay bills in the hospitals for most , they have to keep their economy running and I do think that they do know what they are doing.
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One word for it : Unrealistic
Due to many unfortunate events , most people don't have access to normal food , water , shelter , education , mobiles and they don't even know if something like cryptocurrencies are real.
Government backed Currencies are not actually very option , but at the same time these currencies are for anyone and does not need prior Education.
It actually works for anyone because they have been here since the time immemorial and are not that volatile nor risky.
Till the time we are able to take away , hunger , poverty , war and give everyone proper education , we cannot even start to imagine a senario like that .
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Okay , see you need to understand that it is economics section therefore I do think a coin probability of landing on one side does not truly display the economic situation .
I still would like to answer your question
See Probability= Favourable outcome/total number of outcomes .
Now it's 1/2 , which is for one bet
For 10 bets , getting the same side will be , 1/2*1/2*1/2*1/2-------- 10 times - = 1/1024
If you are going to consider only one flip then you have to use different method .
If it's just second flip :-
1*1/2*1*1--------- = idea is you have to calculate it for the flip you want. But at the same time you have to write 1 for the flip you are not considering.
Lemme know if you understand otherwise I will try and elaborate it more .
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First thing I would tell you  there is no such thing as Bitcoin Company . It's the third party exchanges that people usually use to change their Bitcoins. You should write down your country because I do think it would be good for you to use your national exchange, low fee , plus direct transfers to and from your bank account. Therefore find some local one , most wallets do provide even exchange at a good price . |
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There is a new documentary in Amazon prime showing how bitcoin is affecting and changing Africa. It will be on Amazon Prime though, this is going to be interesting to watch. We all know that Africa is a prime example on how bitcoin can be adopted. And many services and platform are targeting this continent. Below is the teaser. I'm not really sure though if it has been shown already by Amazon Prime.  I have always talked on and on about making your own local community so you can exchange your Bitcoins without a third party. I have changed countries therefore had the opportunity to make a lot of African friends and trust me it is real . Every single one of them knows about Bitcoins , holds Bitcoins , sells it periodically , trade , send it to their families, take the trading classes. I even had the opportunity to introduce them to forum and help them make their IDs like someone else did for me once , most of them weren't aware and we're just using Bitcoins for trading. Unfortunately the government is never thinking about the people out there they have to fend for themselves , plus the situation is very dire and even a little helps. The documentary is amazing but I do think they should not have shown the silk road right at the starting, it was a big thing I know but at the same time I do think they could have mentioned it afterwards . |
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Is just to show support for the poor by the little way we can. The people that we are better than will look up to get some benefit from us even clothes about from food, shelter is very important as one human basic need, we can take someone in as a family even if they don't live with us physically, we can take charge of majority of their care beyond pizza day. Is about support and charity and covid-19 has really opened us up to support of the human race.
Because of Corona virus people are struggling , the ones who are struggling too do understand the pain of others, therefore I do think even a small initiative from our side would be great. I have been rescuing animals and people are throwing them in the garbage bins which is very irresponsible and cruel . I do think if we are celebrating we can extend our gratitude to the people who do need a pizza more than us . Update: I contacted some of my friends and 2 of them are going to be helping me with the food and other stuff tomorrow. Please let's try and make this day better for everyone. Update: We Were able to feed 10 people , give them coffee and napkins with the price of 3 Pizzas and ofcourse we used our Bitcoins for it indirectly. So I do think it was a day well spent . Only if the shops starts accepting Bitcoins here soon . Most of the homeless people were shocked to see us being nice to them . Hopefully you guys did try something nice today too . |
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Bitcoins is not a brand name .
Halving was never to increase the price of Bitcoins , it was a possibility never the necessity.
I do think when we are talking about the practical implications of Bitcoins . Trading actually do makes sense but you cannot just go and buy stuff with it .
Price stability won't be achieved until and unless the whales are okay with selling their 50% owned Bitcoins slowly over the time , which won't ever happen.
I do think one should recognize that Bitcoins is actually helping tons of people during this hard time , what can be more practical than that ?
People are earning something here .
People are doing donations here .
People are feeding the poor here .
People are buying and selling the services here.
The community is way more practical than the modern community that we live in .
Do not worry or get disappointed that the price did not increase just because everyone wanted to place bets on the halving , be Happy about the fact that during this Pandemic it was able to attain stability, not every precious metal and even the stock market is able to do that .
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Hello
Tomorrow is the pizza day 😁 but unfortunately not everywhere can we go and buy pizza with Bitcoins. I do think we might try and celebrate it in a different way .
What if tomorrow instead of buying a pizza you go to the supermarket and make something home cooked for the poor people who are sleeping on streets ?
With the price of 1 pizza we can actually make sure to feed approximately 5 people if a simple meal is prepared. It does not matter how much you can do , even if you feed 1 person he would remember it forever.
Quarantine is hard . Tomorrow is like a Bitcoin festival. Let us try and take this pizza day to next level . As for me I am selling some of my Bitcoins today so that I can buy some raw products , paying in Bitcoins is not supported where I live .
I really appreciate the forum members like @lauda @brainboss , they are doing a great job with other people too. So we can all take inspiration from them and make sure to make this day more meaningful .
Constructive criticism is highly Valued and so are some suggestions.
Thank you let's make this pizza day count.
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I do think you are going for something like Snapchat.
People use Bitcoins necessarily because they don't want to actually cause a problem with their privacy.
Privacy and Security issue is hard due , they won't be comfortable doing it at the same time it is unreasonable to actually track the users .
I do think many users are involved with the cryptocurrencies because they value their privacy well so this will actually be problematic.
I have heard of many people being extorted for Bitcoins and cryptocurrencies once their friends and family members knew they had some to trade.
Plus I don't know how to say this enough :
Do Not Trade With People You Don't Know about!
We don't have a central governing body , this is a downside , you cannot hold them accountable in every country , most governments take it very lightly.
Better use a third party reputed site or use your wallet , because now a days most wallets are allowing buying and selling which would be both cost effective for you and at the same time safe.
Hope it helps
Please be careful.
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Are you familiar with the fact that in New York government has been trying to make sure people install the solar panels and apparently you do get  some refund on that part and save up some in Tax and I do think you should go for the solar power . But unfortunately the thing is mining does require awful lot of energy and therefore you would need a lot of them plus at the same time there is the wait where you have to let them recharge for a while. I would suggest you to use both electricity or Natural Gas and solar power at the moment and then slowly switch to the solar one , it will take time ofcourse but I do think it would be easier for you . Plus I do thing it would be great that you might be thinking about the environment and at the same time saving money too , if you go like that . Take care. |
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I do think we won't ever find him until and unless he does come upfront and talk about it , there are actually a lot more people in the line too .
All we know about him is he loves pokemon 😂
Why I think so :
(Ash Ketchum, known as Satoshi (サトシ) in Japan, is a fictional character in the ... As the protagonist of the Pokémon anime)- wiki
Finding id of this guy and checking if he does like Pokemon would be a good start though .
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Why are you writing your "article" if you clearly don't have a good understanding of what is mining and how it works? The people who are involved in mining , they might not be amazing mathematicians , nor do they need a degree , they do need an amazing computer software machine which is able to solve that complex problem whose chances of being solved is 1in 13 Trillion .
The chance to find the solution is not some fixed value, the difficulty changes every 2016 blocks (approx. 2 weeks) depending on how fast those 2016 blocks were solved. Mining is a more elaborated version of computational mathematics , the miners have to guess the 64 digit hash correctly before anyone else gets lucky , which would need a very good software plus LUCK.
It's not exactly mathematics, it's just calculating the result of cryptographic hash function. And they don't guess the full hash (which is by the way isn't "64 digits", but simply 256 bits, which are often represented as 64 hexadecimal characters, but this is simply an encoding), they only need to find a hash with certain amount of zeros at the start, this amount is actually the difficulty of mining. And you don't need some secret software for it, software is available for free, what you need is specialized hardware. Also, luck - this thing doesn't exist. Miners don't rely on luck, they join their forces together and share the reward between themselves proportionally to their contribution. One would have to use permutation and combination to solve the problem on paper and trust me it is really hard .
Only a 4 digit number you have 10,000 possible combinations and for the 64 digits I don’t think I should even start writing it .
For example if you are solving a problem which would need a random 4 digit number and you can repeat then , you have 10 choices for all the digits , 10*10*10*10 , really hard to express but yeah , its really a hard job to do .
Miners don't use "permutation and combination", they just feed the block data and nonce to the SHA-256 function, and they chance nonce until they get a hash value with the needed amount of leading zeros. 1. You do agree that it is represented as a hexadecimal number so do not argue about that , I am quite Familiar with the facts you stated but my main idea was to give a mathematical side to the problem . Which could have been done only by hexadecimal digit consideration , which is VALID. 2. They need leading zeroes because the repetitions are allowed , practically needing any value in between 0-9 is actually valid . 3.Plus the difficulty changes to maintain the neutrality of the situation ' if there are many people struggling to get the number it will become more and more difficult with time therefore they have to adjust it every 2 weeks. 4. Plus read before answering * I specifically wrote , one would need permutation and combination if they try and solve it on paper* If you would have read the paragraph you would have realized that whole idea was to break it down in terms of permutation and combinations which is the main ancestors of the function they use today . I do think I stated amazing *computer software machine* I was wrong in the sense I did not know you would try and run the heavy hardware with a lame software. I do believe that they need to have all things considered and equipped . Plus if you are using any free software from the web I do think you realize that most of them come with a lot of viruses therefore I do believe that they also need a good software with a good machinery and computer. Hope that answers your accusations. Have a nice day  |
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