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3121  Economy / Speculation / Re: Expectations for March?! on: February 26, 2023, 12:33:45 PM
The negative effects of US economy slowly falling apart seems to have practically vanished from bitcoin market. Apart from CPI we also have the US stock market in a pretty ugly shape with continued dumps. For example S&P 500 has been dumping all through February, that's even despite the market makers' attempts at reviving the market with pumps in January.

If this trend continues we could start seeing bigger bitcoin price rises in the coming months and possibly even going back closer to more realistic values for bitcoin than the current undervalued state that got stuck.
3122  Bitcoin / Bitcoin Discussion / Re: On Ordinals: Where do you stand? on: February 26, 2023, 12:09:02 PM
understand the word FULL
You are just giving your personal interpretation of "Full Nodes".

That said, we can't stop ordinals because we'd have to censor the network, make it more centralized. Ultimately people decide what they want bitcoin to be and if the majority wants to upload their stuff to the network, that's what's going to happen.
Satoshi didn't invent Bitcoin to see what it turns into in the future and say "what the heck, it turned into a cloud storage that died afterwards". We also didn't adopt bitcoin thinking it can turn into a shitcoin by letting people who don't even run full nodes themselves upload garbage to other people's computers!
3123  Bitcoin / Bitcoin Discussion / Re: IMF reject BTC adoption on: February 26, 2023, 12:00:17 PM
Carstens says that the technology behind cryptocurrencies can also improve payments in general.
That is what they say before creating a new centralized shitcoin created and controlled by the government or the banksters and call that CBDC claiming it is solving all the problems because it is using the "technology behind bitcoin".
3124  Bitcoin / Bitcoin Discussion / Re: Will Bitcoin [eventually] collapse? (scholar’s opinion) on: February 26, 2023, 04:56:20 AM
The methodology is not the best (for example, they include stablecoins), but still indicative...
It is not just not-the-best, it is wrong. When shitcoins can magically summon market cap out of thin air. For example 72 million eth is premined and is not all in circulation but contributes to its fake market cap value, that's about $115 billion of the total market cap (roughly 60% of this shitcoin's market cap) and that's just one shitcoin. Ripple foundation pulls supply in the billions out of their behind. eth classic doubled its supply to keep its rank up in the fake MC list, ...

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So what is your opinion on that fact that it is not widely used as is meant to according to the initial purpose?
Bitcoin adoption as a means of payment has always been growing consistently and that is the only thing that matters. The degree of that adoption is not.

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I disagree again. You would be so limited in options if one day you decided you want to live that sovereign life. How would you rent an apartment, about groceries? How'd you pay for public transport or gas? I heard those crazy stories that someone tried to.  Not many people want these hardships.
When the first vehicle was invented, you couldn't use it to go everywhere. You couldn't travel between cities, you couldn't even go as fast a carriage with horses, etc. Not many people wanted that hardship either but that didn't mean the "car" had to be changed so that it can wash your dishes, iron your clothes, etc. to be adopted!
It's the same with the brand new innovation called Bitcoin. Just because it hasn't yet reached mass adoption where you can see every Joe in the streets using it, that doesn't mean we should add nonsense on top of it and fool ourselves into thinking we are helping its adoption.

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I suggest you can start your journey on exploring 'Bitcoin as a platform' from OMNI layer.
If I convert a movie to hexadecimal and then start a topic on bitcointalk and post the raw bytes here in one or more posts would you continue calling bitcointalk a forum or a movie sharing platform? Would I have not [ab]used bitcointalk for something it is not meant for?

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--- I'm sorry you have the impassion that blockchain based apps are all scams. It is not true. Though I agree that on the surface we see plenty of scams.
Not all blockchain based apps are scams but all of them are useless and all of them can be done in a much better way without the blockchain. The platform called ethereum and the project itself is a scam though.

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I spent years on conceptualizing  a new generation land registry system as an app on blockchain with a title token as the main element of the app  ---- to eliminate bureaucracy, brokers, lawyers, registrars, notaries and so on. Why not use Bitcoin as an infrastructure for such applications?
If the law and regulations are broken you should fix that instead of trying to add more complications on top of it.
In other words there is nothing stopping the government from forcing you to go through all the same bureaucracy, brokers, .... even if you are using a 100% decentralized token on a 100% decentralized platform.
3125  Bitcoin / Bitcoin Discussion / Re: IMF reject BTC adoption on: February 26, 2023, 04:29:23 AM
Apart from the fact that OP seems like advertising a twitter account, these things start from attacking ICOs and shitcoins and then could continue into attacking bitcoin itself. After all IMF is an American organization and obeys and fulfills US interests, one of which is preservation of United States Dollar and bitcoin is another serious threat to it's dominance.

So the real question is not about what IMF says but how much countries care about it (or forced to care about it)?
3126  Bitcoin / Development & Technical Discussion / Re: Questions about soft fork on: February 26, 2023, 03:56:21 AM
When you are thinking of BIP148 don't think about WHAT it activates, but think about HOW it activates it (or rather wants it activated) and maybe you understand my view better.

But we can't, or shouldn't, speak for all of them, no? The UASF/BIP-148 was merely a proposal on how to have Segwit activated, an upgrade that many people in the Bitcoin community truly wanted. Plus if it's your opinion that 5-10% couldn't force the miners to activate an upgrade, OK. But it did with Segwit, because there was unquestionably more than 5-10% of the Economic Majority that actually wanted Segwit.
You are confusing two separate matters. There is a difference between "wanting SegWit" and "wanting SegWit at any costs". Majority of people wanted SegWit but only a handful wanted it at any cost. And that is what BIP148 is, going against what has worked in all bitcoin soft-forks (eg reaching 95% majority) and splitting the network threatening bitcoin's security, reliability and blockchain's immutability just to activate SegWit.
In fact if you paid attention in those days you would have seen a lot of users state that they do not want SegWit IF it leads to a chain split.

It wasn't like the laughable BCash.
It is like that more than you think. There is no clause in the proposal to check what the network thinks (ie. miner's vote), it just dictates that anybody who wants the change (whatever it is, whether SegWit or bcash or can be anything else in the future) can reject any block that doesn't activate it and split the chain!!!
That goes against everything bitcoin stands for and it is a malicious attack.
3127  Economy / Economics / Re: Russian Gas ban - A problem for Europe or suicide for Russia? on: February 25, 2023, 06:30:53 AM
Two and three years ago the oil price was negative a lot of times.
You are confusing different things that aren't related.
The oil price wasn't negative itself, oil was still expensive so was gas and they still are. But in a short period of time when US was torn apart by COVID pandemic the demand for oil dropped so much that the companies couldn't use the oil they were receiving on ships as fast so they remained on ships for a long time. The cost of just shutting down your shipping business and letting the ship holding the oil on sea is a lot more than just dumping it for free so they started giving discounts and even paid to get rid of the oil hence the "negative price".

So basically the housholds should get payed to use electricity
You have to remember that energy (gas, oil, electricity, ...) doesn't just magically appear at your doorstep! A lot of effort is put into its extraction, purification, processing, shipping, conversion, ... and it all costs a lot of money.
3128  Bitcoin / Bitcoin Discussion / Re: SIGNAL OF AN UPTREND SEASON!! on: February 25, 2023, 05:57:27 AM
I liked the general outline but some of your points are overreaching. For example:
- There are always something terrible happening to centralized services, whether by getting hacked or simply going bankrupt because of having a stupid business model. It is not specific to a certain period in the bitcoin market. The way it is used is different though, during a downtrend it will be portrayed as the end of the world and during an uptrend it is largely ignored and forgotten.

- There are always idiots on the internet who are bashing bitcoin regardless of what trend it is on. Like negative statements from Buffet during the 2017 rise.

- There are always shitcoins that are being pumped and dumped in all bitcoin market situations. ie. the EOS thing you mentioned near the end is nothing special. Same as NFT, DeFi, etc. even though the "hype" part of them thrives better during bitcoin bull markets compared to bear markets.
3129  Bitcoin / Bitcoin Discussion / Re: A time is coming on: February 25, 2023, 05:42:45 AM
Bitcoin has always dominated altcoins from the beginning of its journey. On Sunday, Nov 17- 2013, Bitcoin Dominance was 96.33%. In the last ten years, Bitcoin lost 54.13% Dominance, which will continue. The current dominance is 42%.
Lets not forget that regardless of what CMC website calls this percentage, it has nothing to do with actual dominance. This value is simply representation of a ratio computed by dividing 1 market capitalization by sum of 22669 market capitalizations (1/22669=0.00004)!

As they keep creating new shitcoins and shittokens and as the existing shitcoins create new circulating supply out of thin air (like XRP printing millions in a blinking of an eye) this ratio goes down. At some point there will be quadrillion and quintillion shitcoins in circulation turning that ratio to below 10%.
3130  Bitcoin / Bitcoin Discussion / Re: On Ordinals: Where do you stand? on: February 25, 2023, 05:36:54 AM
and supplying full verified data to others
Being a full node has never been about "supplying" the data to others, it has always been about fully verifying everything for yourself. Although since the P2P protocol is a two way street they do also provide the fully verified data to others.
3131  Economy / Economics / Re: The world continues dumping US dollar (Gold, New World Order, World War III) on: February 25, 2023, 04:21:20 AM
Argentina has also been increasing its trades in other currencies other than US dollar. Argentina and China have been trading using the Chinese currency (Yuan) and Argentina and Brazil have been developing a joint currency called "sur" meaning South that is working like Euro but in South America replacing dollar completely in the region.

We are also seeing a lot of countries in Asia dumping dollar from east to west including the NATO member Turkey.
In the latest news Iraq dumped US dollar for its oil trades and replaced it with Yuan.
3132  Bitcoin / Development & Technical Discussion / Re: "Bitcoin’s Future Hinges on Donations, and That’s Got People Worried" on: February 25, 2023, 04:04:00 AM
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Ethereum, for example, was pre-mined ~ the Ethereum Foundation which held $1.6 billion
Bitcoin doesn’t have $1.6 billion lying around to fund development.
This is a very interesting comparison that without money but with innovation you can create a new form of money that after 13-14 years it still stays on top and continues growing while even with billions of dollars but without any innovation you can only create a very hyped up shitcoin that only pumped for 4 years and have been dumping for the past 5-6.
3133  Bitcoin / Bitcoin Discussion / Re: ‘a technology doesn’t make for trusted money’ -Stringent stattement by BIS Chief on: February 24, 2023, 02:50:19 PM
The BIS Chief Agustin Carstens
AKA a bankster.

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Bitcoin has lost it's battle against fiat and it can not prove itself as perfect monetary system.
Bitcoin was never perfect and is not supposed to be perfect. It is better than the existing monetary system though.

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Cryppto as whole is failure because of it's various failures whether it is exchanger collapses,
That is correct, the altcoins as a whole is a failure not just some centralized service falling apart, but they are failed as projects.

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whether it is bitcoin getting down by 65% from it's value or having unproven ways of transacting it.
And it is a million percent above its initial value! It is also worth twenty thousand times more than US dollar!
Of course a bankster sees that as a failure Cheesy

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Furthermore, he also fingered stabelcoins with failed asset and many of them "blown off" stability and made losses to many investors in the process. THis happened because they were not able to keep the prices to $1.
In other words he said "centralized shitcoins are bad" which we all agree!
It also has nothing to do with bitcoin and we all agree with that too.

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Since he is a banker, I believe he thinks crypto is failure because it does not "add" any value to your crediting history. It does not move your CIBIL score and thus no one can trust you financially if you go completely decentralized over the period of time.
Maybe, or maybe because bitcoin makes people like him obsolete. It's like the steam engine that made many jobs and people in them obsolete.
3134  Economy / Speculation / Re: What will happen to BTC price if the US defaults? on: February 24, 2023, 12:37:22 PM
I think it is not going to be that much of a problem for USA but more towards nations that move towards Yuan or any other currency. Why? Because dollar is a global currency, even if it is issued by Americans, it is still a global currency, whereas Yuan is still just one nations currency and not yet that much global.

How many nations can you travel with dollars in your pocket, and can still live there, and how many you can do it with Yuan? When this switch hurts nations like Brazil more than it helps them, we are going to see them give up pretty quickly, and they will instead try to go back to dollar. This will take of course about 10 years or more, but it will happen.
There really isn't any difference between dollar and yuan. Both are centralized unlimited fiat currencies that are printed by a centralized government and are devalued over time. That means adopting Yuan by Brazil for their trades is not going to hurt them any more than adopting dollar did.

War would make the dollar fall more wouldn't? As soon as you go to war and there is not enough money to go around the US would need to print more money off increasing inflation and the tax people pay. The dollar would feel the affect and drop further which will only convince other countries that they need to find an alternative to the dollar. I do not think a proxy war solves any thing for the US.
It both does and doesn't. We have to consider all the effects of this war.

On one hand What you said is correct and another negative impact is that high energy price and the global competition that's been happening is creating recession in US and the US economy is hurting badly. With non-stop money printing dollar is inevitably losing value.

On the other hand the US regime is heavily increasing its income through 4 major exports that would have never happened without this proxy war. They are oil, gas, food (eg. wheat, corn, etc.) and weapons.
For example without the proxy war with Russia the gas price would have never reached this high and US would have never had this much demand for their super expensive LNG. Russia needed to cut off gas export to Europe for Europe to be forced into buying US LNG.
Same with the other 3.

The real question is, how much longer this trend can continue before it all falls apart? What if the 70's is repeated and Europe dumps dollar again?
3135  Bitcoin / Development & Technical Discussion / Re: Questions about soft fork on: February 24, 2023, 10:30:15 AM
Plus if we were back during 2017, where would the majority of us in BitcoinTalk lend our support? To Jihan Wu, Roger Ver, and the signatories of the New York Agreement? Or to the Core Developers?
To none of them as we should.
The support should be with the majority even if the majority isn't going for a proposal which was the case with BIP148. Bitcoin can not and will not survive if the minority succeeds to enforce its opinion on the rest of the network. After all that is the main reason why we consider bcash a shitcoin!
3136  Bitcoin / Development & Technical Discussion / Re: Do You Feel Less Safe? on: February 24, 2023, 09:58:49 AM
Bank passwords are only allowed 8 characters no more and no less,
It depends on the bank and the way you are accessing your account. The passphrases can be simpler or more complicated (short or long).

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Bitcoin keys use RSA and ECDSA technology
Bitcoin does not use RSA anywhere in its protocol.

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but for Quantum Computers it only takes years.
Wrong. It still takes a quantum computer much longer than that to be able to solve ECDLP.
3137  Bitcoin / Bitcoin Discussion / Re: Another story telling how billionaires hate bitcoin? - read over quick coffee. on: February 24, 2023, 06:48:32 AM
"Blockchain is great, but Bitcoin/altcoins freakin' suck."

I freakin hate this one. It's mostly being said by those who hate bitcoin/crypto, but acknowledges blockchain so they wouldn't sound like a tech/innovation snob.

The funny thing is, there is no blockchain without the units of currency that fill it (call them Bitcoin, altcoins, or whatever you want). I'm not sure why this part is so difficult for people to understand.
I believe when these people use the term "blockchain is great but not crypto" they are referring to the underlying technology as a whole not just the blockchain (ie the database) alone. That includes units of currency but their view is a  centralized form of the technology that would translate into something like the CBDC nonsense.
3138  Bitcoin / Development & Technical Discussion / Re: Do You Feel Less Safe? on: February 24, 2023, 06:27:27 AM
i agree but partially. Feeling insecure or not has nothing to do with the amount in my opinion.
although chooseing 12 words from a 2048 wordlist is secure mathematically. but mentally, i feel like someone else can just simple choose the same 12 words. (don't argue about the last word being checksum, i am just saying)
You don't choose 12 words from a list, you generate 128 bits of entropy using a strong random number generator then convert those bits to words like an encoding algorithm. In other words don't let the number "12" mislead you into thinking it is weak, it is actually a different representation of a strong enough entropy.
3139  Other / Beginners & Help / Re: Which BTC/mining related stock seems most promising going forward? on: February 24, 2023, 06:21:32 AM
That's a terrible idea in my opinion because your money depends heavily on what happens to that company. From the stupid decisions the owners make to the stupid regulations that may affect the company's future.
For example a while ago MARA pool decided to censor bitcoin transactions and announced it to the public, shortly after their stock got dumped.
Or there are other mining companies that have borrowed a lot of money in a country like US with increasing inflation and interest rates and they simply went under over the past year!

On top of all that we have bitcoin price being volatile itself. Which means the company is affected by it too.
That means it is wiser to just buy bitcoin where you only have to worry about its price instead of stocks of a company that is affected by a lot of things.
3140  Bitcoin / Development & Technical Discussion / Re: NFTs in the Bitcoin blockchain - Ordinal Theory on: February 24, 2023, 05:28:25 AM
(and torrents don't even store a copy of your files so they don't count at all).
Torrent is actually a good example since "peers" actually store the data themselves and share it with others. It also stays alive as long as the file is relevant and there is demand for it. Which is a much better solution to storing something "forever".
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