The secret of Satoshi Nakamoto has never been resolved and will never been resolved. Anyone try to claim to be Satoshi Nakamoto or make a publication that Satoshi Nakamoto is found, will probably more than 95% is liar. I never waste my time to read such articles or watch such meme videos. They try to increase their Followers or traffics. And this one is Tiktok.  |
|
|
|
|
Different nations have different laws and regulations. The world is complex enough to find a consensus for all nations to ban Bitcoin mining. The entities they can ban are Bitcoin mining farms, not individual miners.
With the growth of Bitcoin, and if People's Republic of China (PRC) ban all Bitcoin mining and ASIC production, other nations will open the gate for it. What governments want are taxes from their people. Bitcoin mining and ASIC production can bring them money.
Have you ever thought PRC will ban all Bitcoin mining and ASIC production? They will be mad if they implement such policy.
|
|
|
|
I can't really find the methodology other than the mention of relating the price and the economic mechanisms doesn't always hold true for something as volatile as Bitcoin where economic decisions are not always as rational as they seem. The paper isn't peer reviewed as well, I'll take that with a pinch of salt. Modelling rate based on historical figures doesn't make any sense either.
Models are not perfect and many factors in models will be changed. In the past, especially in early years after the genesis block, many people lost their Bitcoin because they considered it is a joke. Mine it, buy it for fun, and don't know the importance of private key or they simply don't believe that Bitcoin will have price at thousands of dollar. In the past, the available educational resources about Bitcoin is limited. This education limitation contributes to the number of Bitcoin was lost. Nowadays and in the future, things are and will be changed - Abundant resources to teach, warn them about the importance of seed or private key.
- Price of Bitcoin is expensive and they will be more serious with their Bitcoin.
- Consequently, people will learn more, and be more careful with their private key that in turn make the rate of lost Bitcoin will be lower
|
|
|
|
The reason why we still use the 21 million cap when talking about bitcoin is the same exact reason why you use the word "probably" when talking about the 17 million cap assumption. While I think something like 17-18m is more probable due to the lost BTC, 21m is simply just a more factual metric. While 17m-19m is likely, we really don't have data on how much BTC are actually lost. We only know that they ain't moving, but not necessarily "lost".
The initial total supply of Bitcoin (~21 million, it is a rounded number) and its halvings every four years are enough to imagine about its scarcity. The more lost Bitcoin will only make it looks more scarce but scarcity is not only factor that makes the value of Bitcoin.
Scammers can make a shit coin with total supply at 21,000 but it does not cause a price of that coin will be 1,000 higher than Bitcoin. In 2020, before the bearish break-out of Bitcoin, YFI is the hottest in crypto market. It joins the market when people were mad with DeFi and gives people a feeling that it is extremely scarce. In September of 2020, YFI has a price above $40,000 when Bitcoin was trading around $10,000.  YFI's total supply |
|
|
|
Slap yourself if you sell your Bitcoin below $100k in this bull run.
This is too harsh for me but I'm one of those who have sold and not just under $100k but even lower before the bull run which I really have regret and felt sorry to myself for making that decision and mistake last year. However, it had taught me a lot of lessons and that's quite an expensive investment to myself just to learn that very lesson. With that particular lesson, I'm now aiming to survive and hopefully that sooner or later we're going to see that bitcoin will surpass $100k. Taking profit is good and profit will be profit if you cash your Bitcoin to fiat. The next step, using fiat to buy some physical things (not digital) like real estate or some others. Many newbies, exclusively me in the past, lost profit I earned because I stood in the market longer than I should do. When you have fiat or stable coins, and lack of experience, you can jump into the market in minutes. If you re-participate in with bad time of market, and hesitate to exit, you lose your previous profit.
My previous reminder is for newbies who bought at top from $50k to $65k and sold off below $35k. It is not applied for people who took profit. Small or big, you took profit so it is good. Newbies who were FOMO and panic sold off, should slap themselves. |
|
|
|
When FUD comes and there are lots of panic selling it just makes the bag move from small pocket to big pocket and where the whales are ready to filter your bitcoins, that's why a lot of FUD, I always monitor news about bitcoin from 2016 and every year it happens the same, that's important positive news like what you are spreading this will make bitcoin holders strong to hold it
Whales manipulate the market by news and they draw as well as distort the chart for us to watch before they release shocking news for us. I don't agree that news are the same. Sometimes, they reuse old news in the past, it is a low level FUD. Sometimes, they add some creative information into past news, recook it and make a new one. The crowd's emotion and thoughts will be changed by the market. When their mood is positive, bad news can not affect them. When their mood is bad, bad news makes them fearful whilst good news can not make their mood better. It is why after deep crash, the market will take days or a few weeks to recover. People maintain their panic, uncertainly, fear for a while and being doubtful about future of the market. Their money is stolen by FUD and their confidence is lost because of FUD. |
|
|
|
Why do so many ICOs loose in value when they are listed and what are the lessons to learn from them to gain value overtime?
If price of ICO token falls down too much after listing and much lower than the ICO price. You will have to wait for months to see good rally that can be connected with their roadmap, big scheduled events. Obviously, it does make sense only if developer teams can keep up their works to meet the roadmap. In bull market, with listing news on big exchanges, assets will mostly rise up, not fall down. Unfortunately, a few hours after x rises, price will fall down and if you are greed at in early minutes after listing, you would probably buy it at top, stuck there for a while. |
|
|
|
To be honest, media can be also the one we can blame for these kinds of FUD. Recently when we got a huge dump and a lot of FUD spread, there are a lot of media that are misleading, especially their headlines.
Media takes those chances to increase their traffics and get more income. There are paid services to create, support and spread FUD. Additionally, there are still a lot of people these days that got very low reading comprehension which for sure, could lead to FUD if they saw some articles from different media.
Agree with you. If they don't have good in-depth reading skills, they can stop reading news. News are reflected on chart so they can simply open Trading views and do their homework. When they can play well with Trading views and with their tradings, investments, they can read news. Why do you need to trust others? Can't you just think for yourself?
The information is all out there, all you have to do is do some research, do a little bit of calculation and some brainpower to make up your own conclusions. You can always read what other experts say (experts not malicious idiots like Musk) to figure out things you missed.
The crowd need something easy, comfortable to digest and media gives them news. They are happy with news in bull market and feel sad, panic, fearful in bear market or only in corrections. It is side-effects of news and dependence. |
|
|
|
Here. I am not arguing with you about where we are and where the market is temporarily as well as how it will move. I share one website for you that I am sure will be helpful for you in long term. If you are a bitcoiner or a newbie in this market, spend your time to read documents on that website. You will not regret it. When you read and prepare enough knowledge about Bitcoin FUD, you will be more confident when FUD pops-up. The website is Endthefud.org that supplies The best links to articles debunking Bitcoin FUD.
Let's get started and debunk Bitcoin FUD, and prepare for Bitcoin next top around $100k. - Slap yourself if you are unknowledgeable and only want to gamble.
- Slap yourself if you sell your Bitcoin below $100k in this bull run. It did not make this price in 2020-2021 bull run but I believe it will make it in 2024 - 2025 bull run.
- Slap yourself if you are greed and get liquidated.
If you have articles, things to contribute to endthefud.org website, you can contact them by pulling a request on their Github https://github.com/pox/EndTheFUD
Also check two websites to see in the past, how Bitcoin moves after FUD finished its goals. |
|
|
|
We believe that current accusations don't represent our site and made in order to refund lost bets.
Also, we receive messages from people who don't have issues playing with us.
Thus, we want to let people grounds to try themselves and speak freely about 1xBit.
Sincerely,
1xBit team
I don't actually know your casino problems and accusations on it. I know your past signature campaign got troubles and you closed it shortly after launch. There is your post when you closed it. We don't want participants of our campaign to receive negative feedback for wearing our signature, that's why we are pausing the campaign.
We will relaunch it once there is a fertile environment for launching it. (locking thread to avoid off topic posts)
You shown your good attitude towards your supporters with it but have you solved your casino problems yet? The pay rate of your campaign is very good with only 15 posts per week but if you have yet solved your past problems, you will not be able to high good posters. |
|
|
|
-Elon Musk tweeted about Tesla not accepting Bitcoin as a payment method
This fud gets success because people believe in the big usecase of Bitcoin on Tesla. Honestly, how many people will actually use Bitcoin to buy Tesla electric cars. People exaggerated the Tesla adoption and now they got side effects from it. -Bitcoin price falls after China calls for crackdown on bitcoin mining and trading behavior
China can get benefit from both Bitcoin mining and crypto tradings. Hey, if you are Chinese government, will do you self-destroy your chances to get more money for your nation? Restrictions on scams are good and should be done as seriously as possible. No nation will open their laws for scam attempts. Do you think that is what China will more seriously control, ban, and crack down? |
|
|
|
The cycle of manipulation will be like this - A few first attempts: big effects
- The more repetitive attempts: less effects
- Then the market will not be shocked with those attempts from same person, nation, etc. It is so-called saturation effects.
- After a long time, when the market participants forget about those entities, they will appear and make shocks again.
- I meant manipulation effects will depend on when the power is used
- Targets of manipulations are newbies, not senior guys and in the market, we always have new newbies
|
|
|
|
Let's say I want to make a large transfer to an exchange. I am sure to verify the receiver address. However, if the exchange made a mistake somehow, all the bitcoin would be lost forever. So does it make sense to send a small amount first, confirm that they receive it, and then send the rest?
It is not a good idea if you move your fund (assume all of it) with - A single transaction because if you make mistakes with your transaction (wrong address, wrong chain, etc.), you lose your coin. Mistakes can be from you or your trade partner.
- It is good to make first small transaction to confirm all details given by your trade partner or friend is correct.
- If details are correct, you can use your second transaction to finish that trade
- If it is your own fund movements, I advise you to do it in different time. Why?
- It can help you to avoid issues with exchanges. Just in case if exchange is hack (like Hotbit weeks ago)
- To avoid anything bad suddenly occurs on the network
- This tutorial is a bit paranoid obviously
- Read this guide How to lose your Bitcoins with CTRL-C CTRL-V. It is very important!
|
|
|
|
|
It is my appreciation with your help. I spend a few minutes to update OP with the section for Ex-staffs and Reference links.
|
|
|
|
Frodocooper was last active just over a month ago--does anyone know when he was removed as a moderator? I don't know of a way to check that.
I think no way now if no data was scrapped. The forum's Search for members with the option Search by position (using Staff as keyword) can help if there are data scrappers do their scrapping regularly. I am not sure there is anyone does this. |
|
|
|
Okay coming back here with the recent China Ban Bitcoin again FUD from China. Is this a good thing now for Bitcoin Hash rate becoming decentralized now?
It is too soon to say the miners will actually migrate from China and the mining crack down is real. I see geographical decentralization for Bitcoin mining is good China has cheap electricity so which countries the chinese miners will move to that also has cheap electricity so the chinese miners can continue mining btc if China really goes ahead with this FUD?
If mining farms migrate to other nations and can not find cheap energy resources as same as in China, the mining cost for Bitcoin will rise. It in the long term, will contribute to higher price of Bitcoin. Net-effects of them, assumes that FUD is real, will be good in long term but on my view it is not the case, it is FUD. Despite of all FUD from China, hashrate increases and difficulty adjustments in history are mostly positive (see the chart of mine). |
|
|
|
Your whole arguments and the first 3 charts are wrong because market capitalization, specially when you are looking at the total including thousands of fake altcoin market caps, is pure nonsense.
Dominance is non sense with hundreds of shit coins/ tokens are included recent months. With the period for hype, new projects are extremely over-valued and they contribute huge fake marketcap. If anyone want to look at dominance and have ability to code, only add Bitcoin and 4-years +-old altcoins to marketcap and then dominance. As for what happened in 2018 you have to look at what happened from 2014 to 2017 in order to understand what happened in 2018. To put simply, bitcoin continued rising from $150 to $20,000 which is a 13,233% rise and at the end the price was higher than the intrinsic value of bitcoin, ergo bitcoin was in a big bubble that needed to burst and that's exactly what happened.
In case you are comparing it with 2021, bitcoin price has gone up from $3,200 to $62,000 which is a 1,833% rise. For things to be the same as 2017-18 we first have to reach $500k.
Even if it is the end of the bull market, that I don't think it is a case yet. The market will give us a exit pump. Fortunately, at least exit pump will be available before the nightmare occurs. If anyone want to exit the market and miss the chance around $65k, there will be a second chance with exit pump. Exit with profit will bring happiness but someday people will say "You're lucky because you bought Bitcoin under $100k". |
|
|
|
|
Show Posts
