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3001  Bitcoin / Bitcoin Discussion / Re: What's your reasons for holding bitcoins? on: February 19, 2023, 04:50:57 AM
I heard people keep saying don't sell when the price rise a little, or when it starts dropping!
You should never sell bitcoin just because price went up or down, a little or a lot.
Bitcoin is not an investment to begin with, it is a currency and you shouldn't buy it only to make profit. It is a currency that is designed to give you financial sovereignty.

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I don't get, why are you holding it for long?
I don't hold bitcoin, I use it as a currency meaning as it was meant to be used. To receive payments and make payments.

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Is that long term bitcoin don't experience losses?
Not so far and possibly not in the foreseeable future until mass adoption.
3002  Economy / Speculation / Re: What will happen to BTC price if the US defaults? on: February 19, 2023, 04:36:15 AM
But when this happens, the world would probably be using another currency (Euro, perhaps?) as its reserve currency.
There are a bunch of candidates as replacement and Euro is not among them. In fact in the future Europe's economy falls apart faster and worse than US economy as it is already evident from the inflation, recession and deindustrialization going on in the two continents.
Unfortunately one of the biggest replacement options seems to be Yuan! Then it would be China that abuses its power an ruins the world instead of US...
3003  Bitcoin / Wallet software / Re: What do you think about trust wallet? on: February 19, 2023, 04:18:05 AM
Trust Wallet is currently one of the most popular wallets among cryptocurrency users.There is no doubt that Trust Wallet's security system is very strong.
The attractiveness of wallets such as Trust Wallet is all in the fact that they support altcoins and sometimes people seek a light wallet to store their shitcoins that is not their centralize [custodial] exchange account. There is also the advertisement by the company behind this closed source wallet that would attract unaware newcomers to a very risky and insecure wallet.
The popularity is definitely not that high though because sooner or later everyone realizes this is closed source and they should stay away which means they lose many users too.
3004  Bitcoin / Development & Technical Discussion / Re: Calculation Overlay on: February 19, 2023, 03:46:50 AM
If I understand your code correctly the end result in your "elements" is a shuffled array containing all numbers between x and y (like 10k and 20k). So why not just create an array of the numbers between x and y sequentially (10000,10001, 10002,...) then shuffle that array?
Right now your code also has two bottlenecks slowing it down. First is repeated usage of RNG to generate all numbers between x and y and the fact that it may encounter collisions so to generate 10 items for example you may repeat the process 12 times.

You don't have to touch the list itself either, you can create an array of "shuffle indexes" to act as a map which you can reuse too. That "map" can be generated once at the start.
3005  Bitcoin / Development & Technical Discussion / Re: how to get block height for given day on: February 19, 2023, 03:23:22 AM
Here is another fun way of doing it which is a lot faster and cheaper to do:
If you run a SPV client like Electrum on your computer you already have all the block headers saved up in a ~60 MB file called "blockchain_headers" which is a stream of bytes. All you have to do is to programatically read this file to get the raw bytes which should be a multiple of 80. Each 80 byte is a block header of a block in chronological order (so you have the block height this way too). Then start from the beginning (byte 0) and extract the time from each 80 byte chunk (ie. one header) knowing that 4th item in it is the timestamp.
Code:
version[4] + prev_hash[32] + merkle_root[32] + time[4] + target[4] + nonce[4]

Here is a pseudocode
Code:
stream = File.Read("blockchain_headers")
while(stream.HasBytesLeft)
    stream.Skip(68)
    timestamp = stream.Read(4).ConvertToTime_LittleEndian()
    resultList.Add(timestamp)
    stream.Skip(8)
Now all you have to do is search in the list of timestamps to see when the day in the datetime you converted changes to get the last height of the day. The height is the index of the datetime inside the resultList/array.

Keep in mind that timestamps are in UTC not your local time.
3006  Bitcoin / Bitcoin Discussion / Re: How was Bitcoin mining done in the early days? on: February 18, 2023, 05:27:10 AM
Overall, I can tell you that the process was less complicated than it is today. And it was within the reach of the public, unlike today it has become a monopoly on a few parties.
The process of mining is exactly the same as day one. You construct a block, fill it with transactions from your mempool and compute the header's hash and compare it with the target. If it is bigger, you make small changes and recompute the hash until you find the hash that is not bigger than the target.

It is not a monopoly either, it just takes a better commitment than just turning your PC on and using your CPU to mine bitcoin. You have to make an investment (commit some money) to buy ASICs and mine bitcoin with them at a much higher hashrate.
3007  Bitcoin / Bitcoin Discussion / Re: On Ordinals: Where do you stand? on: February 18, 2023, 05:19:03 AM
If we set a precedent that the protocol needs to change every time someone makes an emotional response to something they personally disapprove of, where does it end?
We first have to determine whether the widespread negative reaction to Ordinals is emotional and personal opinion or if it is because Ordinals is against the very purpose of bitcoin.

It is one thing to complain about for example people still using P2PKH instead of P2WPH and demanding a protocol change for that and complaining about someone using bitcoin aka a payment system for file storage.
3008  Bitcoin / Bitcoin Discussion / Re: One reason why bitcoin is still the King on: February 18, 2023, 05:04:06 AM
The only reason why bitcoin has grown and is dominating the world (whether you call it "is still king") is only because it has an actual utility that people use and it does what it promises well. Meaning when we say bitcoin is a decentralized censorship resistant currency, it does offer all of that.

If bitcoin continues raising they pump significantly and if it falls they dump depending on the dip.
Actually altcoins get dumped both when bitcoin price goes up and down. Look at the biggest shitcoin called ethereum. It used to be worth more than 0.15BTC a couple of years ago and these days it is barely worth half that because bitcoin dropped down to $3,000 and then went back up to $20,000 while ETH got dumped all this time.
3009  Bitcoin / Development & Technical Discussion / Re: NFTs in the Bitcoin blockchain - Ordinal Theory on: February 18, 2023, 04:53:06 AM
Thus the original one would have to be the one that has the earliest 'block' time on any chain.
Alas you can fake the block time ...

You'd simply have to watch for a new NFT on bitcoin, then mine it into a scamcoin chain and timestamp the scamcoin block earlier than the bitcoin block ...
Your statements are based on the false assumption that people care about uniqueness of a token they buy (they don't even care about their utility). People who buy tokens are buying them to make profit from their pump, wishful thinking of course but they don't care if the duplicate of the same thing existed in the same chain let alone existing on another as long as that little hope for profit exited.
3010  Other / Beginners & Help / Re: Bitcoin Address on: February 18, 2023, 04:42:04 AM
Also know that the more characters you want the more computational power it takes, generating just first 4 characters can take a minute, 5 characters can take an hour, 6 characters can take 2 days, 7 characters can take 3 or more months, 8 characters can take 13 years or more if using just a computer, but you can use GPU to increase the computational power.
Your benchmarks are a little off. In 2 seconds, I was able to generate >500 addresses starting with "bc1qkrash", which is 5 characters, and it took me 3 minutes to generate the following address starting with "krashfre" (since "i" is an invalid character), which is 8 characters.

The times for bech-32 addresses are much shorter than for base-58 addresses because of the reduced number of symbols. Finding a base-58 character is equivalent to finding 58/32, or 1.8 bech-32 characters. So, finding 1krashfir... will take about 116 times as long as finding bc1qkrashfre...
58 being a weird base has its own implementation difficulties which don't exist for a base 32 which also aligns easily with the available variable types under the hood which makes implementation easy and so much faster for Bech32.
3011  Economy / Speculation / Re: BTC bulls back? on: February 18, 2023, 04:22:44 AM
Once again price is heading toward $25k+ with a good momentum but so far we haven't seen it truly broken since there are sales taking place at that price preventing the momentum from gathering enough force in an attempt that looks more like market manipulation than healthy trades taking place.
If we could see this resistance broken, we could continue seeing much bigger price since there will be a jump after that and the next target which is $30k will be reached in a very short time.
3012  Economy / Economics / Re: No petrol/diesel car sales by 2035/ Reality or dream? on: February 17, 2023, 04:54:26 PM
I also think that the big oil producers will not just accept that their black gold becomes less valuable with the potential to become completely worthless in the future.
It's never gonna happen simply because despite popular belief petroleum is not just used as fuel. Loads of different products are being derived from petroleum as products. From the makeup women use to the shaving cream men use, to plastic that is used in almost everything like your home appliance and even the "Electric Cars". It is even used in manufacturing fertilizers so the food industry is dependent on it.
3013  Bitcoin / Bitcoin Discussion / Re: On Ordinals: Where do you stand? on: February 17, 2023, 04:37:01 PM
By sender, you mean the guys running Bitcoin nodes. From what I've read they are the ones who can only create ordinals?
Ordinals is a fancy word for bitcoin transactions that contain garbage in them. Anybody can create a transaction and you don't need to run a full node to create or broadcast them to the network.
3014  Bitcoin / Bitcoin Discussion / Re: Bitcoin Monetary Policy But Things are Changing Now (Taproot) on: February 17, 2023, 03:09:20 PM
Well said, I know it's nearly impossible for the Bitcoin community to accept any type of POW to POS solution in the future.
If some day a new algorithm is invented that at least provides the security that PoW provides and offers enough advantages over it, I don't see any reason for bitcoin to not switch to that new algorithm. The thing is, we already know that PoS is severely flawed and adds more problems than it solves. This is why talking about such a switch is more like a joke. After all PoS was invented in ~2012 and failed then and there.
3015  Bitcoin / Bitcoin Discussion / Re: On Ordinals: Where do you stand? on: February 17, 2023, 03:02:00 PM
Yeah i dived right into a new pool here from Twitter and Reddit where people are cheering over this as the next great thing in the universe. And it seams mostly fueled by hope of selling overpriced jpg's to other fools who hope to do the same thing. And nobody seams to be thinking any further than that.
Exactly. But this has been a plague that has infected the cryptocurrency scene mainly from 2017 when the ICO scams started becoming very popular and we had a mania for a while. Ever since then a certain part of the community is convinced that creating useless tokens is a real "utility" that helps adoption!

So i am not 100 on how this all works, but do i also have to be watching out for what's on Sats that i receive?
As i have understood it, had it explained to me: An Ordinal is all extra data on each Sat?
I tried to simplify it here, maybe that helps.
In short there is nothing attached to the "satoshis" you receive, they are inside the witness of the transaction the sender creates and shouldn't concern you in any way. It also has nothing to do with the amount (or satoshis) regardless of what the advertisers say (eg. "rare and exotic sats"), it is just an arbitrary data pushed to the witness stack.
3016  Economy / Economics / Re: The world continues dumping US dollar (Gold, New World Order, World War III) on: February 17, 2023, 05:10:25 AM
But then, replacing the US Dollar with a heavily manipulated currency such as the Chinese Yuan will have limited impact in international trade.
Well, there is no currency in the world more manipulated than US dollar so that is a non issue with Yuan. But as for the impact, I already gave a reason above regarding Brazil and Latin America and here is another one. Brazil's trade with China is not small at all. Their exports to China is only slightly smaller than US exports to China ($80-$100 billion vs. $150 billion). It is a significant enough amount of dollar being "dumped" and it will have an impact in the long run.
3017  Economy / Economics / Re: Economic implications of a US-China-Taiwan conflict on: February 17, 2023, 04:54:53 AM
How to put this? May be the war rumors is actually a rumor to keep things tidy and neat for the years to come. ~
It is not all rumors though. It depends on how you define war/conflict. A direct armed conflict is highly unlikely but the "war" is already happening in the world, some even refer to it as world war 3.

On one side US is constantly arming terrorist groups in Asia in both West Asia and East Asia. They are also arming multiple small countries around China so that they can act as US proxy (including Taiwan, Philippines and Japan). They are constantly threatening security and trade routes to damage Chinese economy and exports. Specially if you look at the countries that are on route of the Chinese "Belt and Road Initiative" you see the chaos US has been causing there.

On the other side China is sanctioning United States like the recent sanctions on multiple US industries. They are waging their own Opium War by mass exporting fentanyl to US and US neighbors that are flooding US with highly addictive drugs. They regularly invade US airspace and gather massive amount of intelligence on highly classified facilities.

And a lot more.
3018  Bitcoin / Bitcoin Discussion / Re: Impact of altcoins on Bitcoin's early growth and adoption? on: February 17, 2023, 04:30:29 AM
On the positive side, the emergence of alternative cryptocurrencies helped to increase overall public interest in the concept of cryptocurrency and blockchain technology.
Not that much though, specially these days. In early days there were serious developers who were focusing on exploring the alternative solutions and did actual development and innovation. That is long dead now and all we see are devs who are interested in making the easiest thing like a token in order to make the most amount of money in the shortest amount of time.
In other words at this point altcoins are only increasing the interest in making more [fiat] profit.

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By offering alternative options to Bitcoin, altcoins helped to broaden the appeal of the cryptocurrency space and attract new users who may not have been interested in Bitcoin specifically.
I disagree.
People who don't know bitcoin or aren't interested in bitcoin are also not interested in altcoins. In fact almost everyone who has ever touched altcoins were into bitcoin first.

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At the same time, the emergence of altcoins also created competition for Bitcoin,
Not at all because of the reasons I explained at the start.

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In some cases, alternative cryptocurrencies may have drawn investment and attention away from Bitcoin,
Wrong. It is pretty easy to verify too, look at what happens to altcoins each time bitcoin price moves: They get dumped. This shows that people didn't really "diversify" their investment, they just took their money into another highly risky market to increase it and come back to bitcoin.

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This could potentially undermine overall confidence in the cryptocurrency market, including Bitcoin.
This I agree with specially since there has been propaganda campaigns against bitcoin where they point out all the scams in the altcoin scene while the main subject is bitcoin. To an unaware person who doesn't know bitcoin they all look alike.
3019  Bitcoin / Bitcoin Discussion / Re: What would happen in a deflationary hoarding scenario? on: February 17, 2023, 04:23:21 AM
You can not compare bitcoin with fiat currencies and the economy that relies on them. Bitcoin is not and is not going to be (in the near future) the only payment option or even the dominating payment option. Besides, even the example you used is not that simple. Economy in general is too complicated to be viewed or analyzed like this.
3020  Bitcoin / Development & Technical Discussion / Re: NFTs in the Bitcoin blockchain - Ordinal Theory on: February 17, 2023, 03:57:59 AM
Does this mean that we should do everything that is technically possible, though? Or that because something was always possible, it is automatically good / right?
That's the real question.
I'd say we should continue fighting to keep the network healthy. Whether it is to protect it against hostile takeovers or bsv and bcash like attacks or spam attacks. It definitely won't stay healthy on its own if we ignore it.
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