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May I ask what is the road block? Why people are reluctant to adopt the lightning network as opposed to the high transaction fee! If this is what can solve this high transaction fee people are currently facing then there should not be any hesitant about it, just wondering why the adoption is slow,
And as for minimize transaction cost, I also do same, use other alts that has less fees to withdraw.
One of the main argument is that the network could be centralized. Most of the current LN nodes are controlled by a few individuals but this could be solved if more people will run their own node. Right now, it seems that the cost of implementing LN still outweighs the benefits/rewards and that prevents many platforms from adopting it. Another issue raised is that it's not user friendly. An average user would need some technical skills or he/she could find it hard to set up opening/closing payment channel/s. |
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The third halving event, then, is more symbolic than the previous two. It has the potential to usher in a whole new financial order, much like its inventor intended over a decade ago. $2.3T fiats were injected to the supply as inscribed in block 629,999 while bitcoin mined per block halved after that. It's probably just a coincidence and I'm not happy about the underlying reason which is COVID-19 but the timing couldn't be more perfect for the bitcoin halving. Let's see how the market reacts. |
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I'm not going to argue here if the Chinese government is to be trusted or not - that's something you decide for yourself. What I want to know, is to what extent are they going to allow Bitcoin to remain independent when it becomes harder to turn a profit and how "independent" these mining groups are from the influence of the government.
No, it's not doomed to be centralized in China. Scenario 1: The government will take over and continue to mine most bitcoin. They still cannot keep it to themselves because they have to cover mining operation related expenses. They have to sell/trade it somewhere and they cannot prevent anyone who bought from them to send it anywhere else in the world. Scenario 2: The government will take over the mining farms and shut it down. Bitcoin will still thrive since anyone or any group can set up their own equipment and start mining bitcoin unless if they are in countries where it's forbidden by their law to mine. |
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I think the Bitcoin protocol has to be changed if we want to have cheap fees even if there are hundreds of thousands of transactions. There's segwit, LN, and the proposal of bigger blocks to help ease congestion but with nodes automatically setting a minimum fee everytime it gets full, always expect the fee to spike. As much as we want it to be fast and scalable, the network was simply not designed that way. It was meant to be a decentralized payment system.
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Marahil sa mga susunod na araw ay susubukan kong gumawa ng listahan ng kung ilang porsyento ng mga users sa Local Board ang nakikihalubilo sa mga lokal na threads at kung ilan ang preferred ang pagsali sa ibang mga board. At sa gayon makukumpara ko kung talaga bang ang mga users dito ay sanay na rin talaga sa wikang ingles na siyang sasagot sa aking agham agham.
Direkta mo na lang silang tanungin saa pamamagitan ng anonymous poll. Kung gagawin mo yan, mas maganda kung specific ang mga tanong mo at lahat related sa wika.
Naisip ko lang din, hindi naman yata lahat ng Pinoy dito sa forum ay komportable sa Tagalog. Malamang meron din mga mas gusto ang Bisaya, Ilocano, Kapampangan, Pangasinense at iba pang dialects/regional languages. |
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Appreciate all the contributions sa thread na ito. Hopefully, marami tayong natutunan kahit nagbabasa lang tayo pero mas maganda sana kung tayo mismo ang magtatanong sa mga paksang gusto natin maliwanagan.
Ituloy natin ang usapan dito pero ibang tanong naman.
Paano natin mapapabilis ang bitcoin transactions natin kapag matagal itong natengga sa mempool?
^ Alam ko may Bitcoin accelerators, Replace by fee (RBF), at Child pays for parent (CPFP) methods. Paki-paliwanag.
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Wala sa language barrier ang pagbaba o pagkawala ng activities ng mga newbies dito sa lokal. Tingin ko marami sa kanila ay aktibo lang talaga sa mga bounty campaigns (kung saan english din ang mga post sa social media) at ayaw lang makihalubilo dito. Aminado ako na wala akong planong maging aktibo dati dito kung hindi lang nagkaroon ng signature campaign dati na mga lcal boards ang target market. ~
May mga bagay sa ingles na baka hindi maintindihan ng ating mga Kababayan partikular na sa mga malalalim at teknikal na usapin sa Forum. Kumbaga, paano natin matutulungan ang mga kababayan nating gustong matuto kung hindi "Layman's Term" o sariling wika natin ang ating gagamitin upang ipaintindi ang mga ito?
Kahit tagalugin natin ang mga technical terms, kung wala talagang background ang tao sa mga bagay na iyon, hindi pa din maiintindihan. Kapaag tinagalog, hindi ibig sabihin na layman's term na. Ilang blogs na din ang nakita ko na nagpapaliwanag ng bitcoin at blockchain. Ni isa sa kanila walang purong tagalog. Iniisip ko paano i-translate ang blockchain, blokeng naka-kadena?
~
Tingin ko ang gustong iparating ng OP ay isang adhikain na ibalik ng bahagya yung talagang paggamit ng Tagalog sa ating Local Board at yoon lamang. Kahit ako rin nahirapan minsan sa pag intindi sa teknikal questions na nababasa ko sa mismong Board natin kaya somehow agree ako sa OP na gamitin pa natin nang mas madalas ang ating Wika.
Mas mapapadali ba ang pagintindi mo sa mga technical questions o topics dito sa local board kapag tinagalog? |
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~ 1. That should have been "Bitcoin Casinos Are More Secure". Hackers unable to access your personal wallet because they don't have the private key doesn't mean you are already safe.
I don't think that hackers cannot hack our Bitcoin wallet. We can search from many sources that there are several cases of stealing BTC from the wallet. They may not have our Private key, but, they are hackers. they can learn many things and they are smart. If they find just a little gap, it can be a smooth way for them to hack the site and steal our Bitcoin very easily. In fact, Binance which is known as the largest exchange alone can be hacked and lost more than $ 40M Bitcoin. So, never only think that our assets will be safe from hackers. We must be more careful even using the BTC for casinos. I don't know if you really understood the context of my comment. Read the OP again.
Cryptos are easily spendable on online casinos and it gives more convenience while playing here so people adopt for decentralized currencies to get better gambling experience and especially after this halving the price may increase which makes the bitcoin to be more popular among the gamblers so it is going to be positive effect on online casinos and even for bitcoin itself.
Do you think online gamblers are bitcoin speculators too? |
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As I mentioned in my previous posts, I expect the following effects to be seen on online gambling services after the halving process.
Alternative Payment Methods: Due to the increasing number of transactions in the Bitcoin network and mining power, mining commissions paid for transactions will increase. If this increase reaches substantial amounts, users will demand alternative methods to ship with cheaper commission. This would be a very bad disadvantage for services that only provide the opportunity to gamble with Bitcoin.
Low Commission Competition: As I mentioned in the upper factor, the withdrawal transaction fee demanded by the websites will increase due to the increasing miner fees. In this case, users will prefer the service with the lowest amount of this commission as well as the quality service. This, in turn, will result in the loss of customers of services that provide withdrawal with a high commission.
Opportunity to Play with BTC Balance: The services that provide gambling service with the amount of Bitcoin sent will benefit from this advantage. The services that demand money with Bitcoin but transfer the balance in USD, EUR or similar currency after the money investment will cause loss of customers for this reason.
I get the points 1 & 2. I'm not so sure about point 3. 1. There are already online crypto casinos offering other payment methods like Doge, Eth, and Ltc. Those who offer only bitcoin deposits still have an option to implement LN like some casinos do. 2. Someone posted in the previous comments the decision of Fortune Jack to waive fees for all BTC transactions. This is in light with the recent effect of the halving (read it here). Established online bitcoin casinos might follow suit too if their customers would request for it. Anyway, the recent increase is only temporary. the transaction fees have settled down if you look at the mempool now https://jochen-hoenicke.de/queue/#1,8h |
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To be fair, most ecommerce stores or even websites in general(even the giant ones) use third party data centers anyway(Amazon AWS/MSFT Azure/etc), hence there's almost always going to be a third party trust involved, unless they run their own data centers.
Yeah, I get that. It's still weird.
Welp, it's not just Ledger and Trezor. Keepkey database is also reportedly compromised. The hacker claims to be in possession of account information corresponding to nearly 41,500 Ledger users, over 27,100 Trezor users, and KeepKey’s 14,000 customers. ....and other crypto exchanges The hacker is now advertising the databases of 18 virtual currency exchanges and forums, in addition to the email lists of two crypto tax platforms.
The databases include the full SQL for Korean exchange Korbit spanning 4,500 users, three databases for Mexcican trading platform Bitso, and the complete account information including passwords for blockchain platforms Blockcypher, Nimirum, and Plutus. There's a high chance that this hacker is only trolling though. |
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It feels kind of weird that they're selling hardware wallets that helps us protect our crypto funds from hacking is also maintaining a data base of its customers to a centralized server that's also hackable. For those who still don't get the $5 wrench attack, this conversation might explain it better   |
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I guess nobody told newbies that they could get merited for their humor?
I would have given one myself if that was posted in our local board (I am a bit biased when giving merits).
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1. Jones will slow down too if he's going to add more weight. His ever reliable cardio would be affected too.
Jon Jones walks around as a natural heavyweight and he does not need to cut any weight and that will be an advantage rather than a disadvantage and it will not affect his cardio as he is not trying to put any extra weight. It's different when you are just walking around and chillin' as a heavyweight than actually fighting. He's been fighting as LHW for years and any recent change in weight class would definitely affect how he fights in the octagon. At LHW, he can last for five rounds or even more and if he'll use the same pace as a HW in the octagon, that's going to affect his cardio. Not to mention the power of natural HWs have in their punches, it's going to wear him down if he gets hit. |
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While reading the report, I was asking myself kung ito lang ba yung pinakauna nilang research nila about how terrorist groups are using cryptocurrencies? If so, masyado naman na silang huli sa balita. Hinintay pa ba nila ang COVID-19 para pagaralan ito? Anyone who has been into the space are already aware na may nangyayari nang ganyan. The suggestion to ramp up efforts to fight crypto funding of terrorist makes me think na hindi din sila updated sa ginagawa ng BSP at SEC ngayon. If they only checked the licensed VCEs, mahigpit naman ang implementation of KYC at may mga exchange policies na din in compliance with AMLA. In fact, IMF already advised the BSP to improved data collection of crypto asst transactions back in January. Tungkol naman sa pagiging half-baked o hollow ng report, I would give the researchers the benefit of the doubt na nag-withhold sila ng sensitive information to be submitted to the authorities (baka naibigay na nga) at magamit ng mga kapulisan to device a plan and pin down these terrorist groups. All in all, I think the report is just supplementary and not really "groundbreaking" to most of us who knows and to the SEC/BSP. I'm pretty sure our policy makers have somehow been briefed also about this long time issue thrown against cryptocurrencies.
This is out of hand, whatever people might think about cryptocurrencies, it is anonymous
It's pseudonymous unless you are talking about Monero and other privacy coins, |
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I think bitcoin halving has a positive effect on online casinos, because according to a survey that I saw on the internet.
I'm trying to find any survey about this effect, but i don't find anything. Maybe you can provide me a link of this survey? Because i'm not sure if Halving give a significant impact for casino's. Yes, provide the link please. I am also interested what the survey covered. Like what were the questions asked? Did the participants really say they switched to online gambling mainly because of the halving and the potential gains? Or was it only because it is more convenient to deposit bitcoin than fiats? ~
Rough data would do. I guess it won't mean much if they would only release figures in percentage. After all, they are legally registered and licensed casinos. Theirs are open books to the authorities and are regularly audited. We've seen figures in percentage such annual growth rate, rate increase in bettors, etc. Again, if Bitcoin halving effect to their business is something that is of interest to them.
What's reported to authorities/auditors are $$$. Data such as number of bettors is internal. If they do release growth rates, it would probably be for marketing. |
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Worth it nga ba? I think depende yan sa kung saang lugar nakapwesto ang business mo.
Maganda 'lang siguro ito if your business is placed in the heart of a city or in any urban areas wherein marami (sa tingin mo) ang may knowledge at hawak na cryptocurrencies.
Kapag sa rural areas ka, baka langawin 'lang yang wallet mo at hindi magagamit.
Although, it is still good to put up signs and banners just as what OP has shown para at least ma curious mga kapitbahay mo as well as your costumers.
Does it really have to depend on the business location? Sa tingin ko hindi. Importante yung location to determine whether kikita ang business o hindi pero wala naman kinalaman dyan yung mode of payments nila (fiat o bitcoin). Kahit langawin pa yung wallet, hindi naman malulugi ang isang negosyo dahil it doesn't cost anything aside from internet connection to set up an online bitcoin wallet. Mas nakadepende yung "worthiness" ng pagtanggap ng bitcoin sa conversion rates (assuming ayaw mag-hodl ng owner) at sa transaction fees. |
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Who can imagine Jon Jones fighting in the Heavy Weight category? Even for a Light Heavy Weight fighter he looks slim. He's tall but skinny, so I really think he would be a bad HW fighter.
The guy comes from a family of athletes, he could always bulk up. I remember seeing a picture of him when he was first suspended, he looked huge at the time. ~
Jon Jones is dominating all the fighters in Light Heavy Weight division and he proved everything and there is not much competition in the division
I wouldn't say "dominating" especially with the recent fights. There are also good competitions waiting for him. I would want him to have a rematch with Reyes to put all doubts from their first fight to rest. ~ the light heavyweight division had some heavy knockout punchers and the reason for Jon Jones to move up is because he knows these fighters are really slow and if he could maintain the distance and with the speed advantage he can win.
I don't think that strategy won't work well. Yeah you can run and run inside the octagon and throw jabs but there's a point that both fighters will clinch and brawl. And if that happens, Jon would be in a big trouble. Remember, HW fighters are well known for "one shot, one kill" plays and not sustainability  . 1. Jones will slow down too if he's going to add more weight. His ever reliable cardio would be affected too. 2. I think we are forgetting is a wrestler and clinching is nothing new to him. In fact, it could be advantageous for him if they go to a clinch. He's a crafty/dirty fighter after all |
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