For something like PayPal that has users across the world it might actually be good for the users depending on how it's implemented.

As of now if I a US user send money through PP to someone in another county there is an exchange fee from USD to whatever.
If they are using a satblecoin there would probably be no fee, *if* they do what they said with BTC and have no fee user to user transfers.
So instead of going fiat to fiat with a fee. Or BTC to BTC with no frr (but with BTC price fluctuation) people would be able to do stablecoin to stablecoin.

No why they don't use an existing one I have no idea.

-Dave

You seem to be missing the point of my reply.
The OP did not ask about BTC but blockchain coins in general.

I pointed out that yes blockchain coins are better with all things being equal.

But in the real world not all things are equal.

The franky1 coin could have some of the best programming out there but if it has a very low hashrate it's not secure because it can be hit with a 51% attack.
The DaveF coin could have very high hashrate but was written poorly so things that should not be able to be manipulated / changed can be changed.

-Dave

That is an overly simplified question.
A well written non blockchain based coin is probably more secure then a poorly written one with low hashrate.

Look at the 51% attacks that have happened on other blockchains. Look at the ETH DAO hack and rollback and split to ETC and so on.

So if you are talking about BTC vs other major coins then one with a public blockchain is more secure.
If you are asking in general, it's a very broad question with no good answer.

-Dave

Well it's been a week and nobody seems to want to discuss it.
Which is strange considering the BTC price slump over the last few days.

I *think* that is is related a bit and a lot of people are not trading as actively, but that is just my opinion.
I know some people don't care and others have it as a 1st quarter 2023 issue when the taxes will actually come due.

I just can't see it not changing the way people are doing some things.

-Dave

Eric Adams is a tech guy. Yes he was a police officer before but when he left the NYPD and became Brooklyn Borough president he really pushed for tech to come into Brooklyn. He supported them and helped them move there. So it's not like it's coming out of nowhere. He sees it as a business growth opportunity for NYC and it really looks like he is going to support BTC / crypto and a lot of other tech things for NYC.

Although i don't think it's going to make BTC hit $250000 I do see it as an overall positive for BTC.

-Dave

No, I bought a few when the 1^st came out and wound up selling one to Krogoth. They are really neat devices, but for some reason never caught on.
I think the price was the main obstacle. You could get a "real" hardware wallet for what they were asking.



Yes it's the same in theory, I don't know how or how well the other devices do it. They *should* all work the same but as we all know should is not the same as do...



Or people keeping way too much money in non secure hot wallets or people putting their private keys in unknown websites.
You can lead people to knowledge, you can't make them think.

-Dave

The problem is I use it when I am on the phone so I never know what IP I would be connecting from.
The home PC is connecting on a 192.168.1.x address.
Since I changed the port to another one it has stopped. At a guess something walked the IP stack and then walked the ports once it found an IP that responded.

-Dave

You don't have to run the site while connected to the internet.
You can go to it and once it's loaded go offline
OR
You can open it in chrome, right click in the whitespace on the page and click save as and save it and all the files to a folder and copy it to an air gapped PC.
It will run from an offline computer, but it will complain a bit about not being able to get to some jQuery stuff.

-Dave

Or, you could ask the person who you bought it from. They are a really nice guy who can help. :-)
It's not regular Multisig it's Shamir’s Shared Secret.
Dave takes an Advil since he pulled a muscle patting himself on the back.
Use: https://mycelium.com/assets/entropy/checksalt/sss.html     to decode it.

Note when entering the keys you need to start with the SSS-

-Dave

Just looked in and one of my nodes is getting hit.
Which is odd, because it would have to have been found at random and was on a non-standard port so I have no idea how they found it.
Never advertised it at all. It is on an IP that is also running one of my lightning nodes so someone might have just walked the ports till they fond something.

Just changed it to a new port, will see if it comes back.

-Dave

Because if you are dealing with a large number of people SMS is a standard, it works on all phones, you don't have to think about who has what app.

Yes, I am a fringe case with this but I can sit in the worksite and send messages though a web client to all who need them knowing that they get it without thinking and all it costs me is $0.02 works for me.
If I can do an MMS with a picture going "How difficult is is not to route the data connections through the high voltage conduit?" even better.

International data plans are not always cheap or convenient and if there is an issue dealing with it is a pain.

-Dave

If he was talking about 5 to 10 years I would think yes, with more and more businesses adding other payment methods like cashapp and venmo and zelle I can see that cutting into Visa / MC business more.
To get a lot more use of BTC in that environment we will need a lot more merchants accepting it directly.
With MC working to do it I can see that hurting Visa, but that's about it.


Nah, MC / Visa are doing fine in terms of this. The Amazon thing is just 2 big kids on the block flexing their muscles.
Amazon thinks that since they are so large they can force other people to do what they want.
Visa more or less thinks the same.
Visa might also be pissed that just about everywhere else the Amazon co-branded card is a Visa but in the UK it's a Master Card.

-Dave

If you look at the numbers, the amount of transactions on lightning appears to be going up all the time as does the amount transacted so from that aspect there is no reason to assume it will not succeed.

What is nice about lightning is that unlike some of the other coins that claim to solve scaling issues, you can run a BTC node and lightning node on a $75 RPi with a $75 hard drive attached to it and be done. So long as you have enough drive space you can run it on a pre-built VM on your home machine for free and once the initial sync is done you will not even notice it's running in the background.

-Dave

I see a use for it for people who travel to foreign countries and are on mobile carriers that have insane rates for some of them.
It's actually why I asked about MMS. But even some texting rates are as high as $0.50 a text and your "international internet" speed is 2G.

https://www.t-mobile.com/travel-abroad-with-simple-global

Not sure it's a BIG market but I do see a demand for it.

-Dave

So now that we are in 2022 the new reporting rules are now in force. I know a lot of people still buy and sell BTC through PayPal and other ways.

A quick link:
https://newsroom.paypal-corp.com/2021-11-04-New-US-Tax-Reporting-Requirements-Your-Questions-Answered
Although this is the PayPal link it's the same for all services that move money between people.

And, the new bank reporting rules are also coming.

I know there are a lot of people who have played a bit "fast and loose" with tax reporting.
Others have reported it all but this is just more data to keep track of during the year.

Just wondering if anyone in the US thinks this will change the way they deal with buying and selling BTC

I wont change much. I am out of dealing with PayPal for other reasons and never really did much with other forms of transfer.

-Dave

I bought the assets of a company that folded, they had a bunch of adult / adultish domain names.
Since I really don't deal with domains that are not BTC related I am trying to sell them.
Make an offer on one of them or all of them. I am not going to let them go "cheap" since they do have some marketability but I not going to wait for top dollar.

They have all been registered for years and years (10+) but all are coming up for renewal within the year for the most part.

All are at namesilo.com so if you don't have an account there you can just set one up and I can do an internal transfer to you.
They also have an internal marketplace so if you want a bit more security we can negotiate here and I can post the domain there. It's a 7.5% fee to sell there so I'll split that with you. I will be listing them there over the next few weeks anyway but figured I would give people here a chance 1st.

Domain                                      Created                Expires
welivetogethor.com                     2003-10-07           2022-10-07
hardcoredump.com                      2006-11-15           2022-11-15
pantypages.com                         2000-11-20           2022-11-20  <--20+ year old domain
uglyladies.com                           2000-11-20           2022-11-20  <--20+ year old domain
secretsexyagent.com                  2007-11-23           2022-11-23
secretsexyagency.com                2007-11-23           2022-11-23
secretsexyagents.com                2007-11-23           2022-11-23
sexysecretagency.com                2007-11-23           2022-11-23
jenniferrovero.com                     2001-12-08           2022-12-08  <--20+ year old domain
homehandjobs.com                    2003-12-11           2022-12-11

Never talk in absolutes.
Should someone who does not know the risks of paper wallets use them? Probably not.
Should someone who knows how to make them secure, understands the risks & vulnerabilities and such use them if they want to? 100% yes.

People in general have gotten used to banks / brokerage houses / and so on keeping their money somewhat safe. Now that we have to take some responsibility to keep our funds safe there will always be "a better way to do it" but everyone will do what works for them, not what is "better" since what works for me might not work for you.

Also, keep in mind you still see how at times the failures of this. There are news items popping up about how people bought an old house and while renovating it found cash / gold / other expensive items in the walls. At times the home had passed thought several owners before it was found. Guess that secure method did not work out well for the person who did it.....

-Dave

What email provider are you using? Do they have access logs?
Since the xx. IP was yours, was there anyone else around you house / that machine at that time?

The IP that the request came from 185.19.85.182 is part of datawire:


So either someone who is hosting with them did it or there is a compromised machine there.

Unless the person who did this makes a mistake it's going to just about impossible to trace the funds, but file a police report and see if your insurance covers theft like this.

-Dave

I see the opposite, more and more people are talking about it and asking us who use it / know about it for more information.
Keep in mind most of threads here are from people who either are active users or people who support BTC.
HOWEVER, there are a lot of other posts from people who are either anti BTC or have their own agenda, so posts here are not an indication of the outside world.

But with more ETFs trying to be listed, and more and more larger players (block, Master Card, etc.) getting into it I actually see the opposite and that more people are getting into it.

-Dave

Makes you wonder where the J/TH wall really is and if the 21.5 of the S19 XP is really going to happen by the end of the year like they say.
Saw a video the other day talking about power and chip production and they were saying the days of 20% power efficiency increases by generation are gone and it's all about optimization now.
And that ASICs are going to suffer because most of them were efficient as they were going to get.

They were not talking about BTC mining but about single process controllers and decoders.
Don't know if it was marketing fluff or just some facts.

-Dave