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3721  Bitcoin / Bitcoin Discussion / Re: Miner's fees on: November 20, 2020, 06:04:06 PM
Firstly, Bitcoin fees are paid in Bitcoin and not in fiat, so when making comparisons do not covert it to fiat currencies to get the value; if the USD value of Bitcoin triples, the fees on transactions would also triple without any changes to the actual amount of BTC paid

There isn't as much decentralization in bitcoin as we think. All the big miners know who they all are. They probably contact each other now and again. They can easily get on the phone with each other, and time a rise in miner's fees for, say, the middle of December.
There is no telegram group for all miners, where they decide fees. It all depends on traffic. If I had the only transaction on the mempool (or all the transactions needed to to fill a block), I can pretty much send it with a very low fee as it will still definitely get confirmed due to no competition. Miners earn majorly from coinbase reward not fees and my transactions are needed to fill blocks.
If more transactions come in with a higher fee than mine, they are then given priority, if even more transactions with even higher fees are initiated they get pushed closer to the tip of the mempool and mine moves further down, meaning I have to bump the fees to compete for confirmation.
Miners play no part in this.
3722  Economy / Economics / Re: Ray Dalio Admits He May Be Wrong About Bitcoin" on: November 20, 2020, 09:11:50 AM
Well, that's how conservative (about finance, not politics) thinks. They are cautious about the new technology but open to being convinced. The negative side of this stance is that they tend to miss out on buying opportunities until Bitcoin becomes more and more expensive.

That is quite a backward approach. For one, before forming an opinion of a new asset or technology, one should have done sufficient research on it, to understand the fundamentals behind it. And the idea of forming a negative opinion with little actual knowledge and then asking to be convinced otherwise is also backward. If you're going to ask for opinions, you should be open minded enough to assimilate them without prejudice.
Maybe that's a part of being conservative; Putting the perceived risks above the potential reward.

Imagine if he just put a small amount of his fund into Bitcoin when the price was $100 or $1,000.
Imagine he puts in a small amount as the price is at $18k+ and comes back to check in the next 5-10 years
3723  Bitcoin / Bitcoin Discussion / Re: What Are The Benefits Of Blockchain In Our Today’s Life? on: November 20, 2020, 08:05:10 AM
Good article, contains a couple of relevant information, and the gif-like videos could be useful to readers who learn through infographics.

Since this was posted in Bitcoin discussion board, I would like to point out that the blockchain is a broad technology and can be run using different algorithms which operates quite differently, so while some blockchain protocols may be prone to breaches like through the 51% attack, Bitcoin's protocol has proven to be resistant to this (It's partly mentioned in the article, but newbies may read only the post and surmise that these are vulnerabilities in Bitcoin)

Quote
Data modification
Another downside is that once data has been added to the blockchain, it is virtually impossible to modify it. While stability is one of blockchain’s advantages, it’s not always good. Changing blockchain data or code is often very strict and requires a hard fork. Once there, a chain will be discarded and a new chain is accepted.
I don't consider the immutability of Bitcoin to be a downside, it's rather one of the qualities that makes Bitcoin stand out from other systems which are not run on the blockchain. Knowing it is immutable increases trust, as you can verify all previous entries and be sure no changes has or can be made to it.
3724  Bitcoin / Bitcoin Discussion / Re: Deutsche Bank: Investors Increasingly Choose Bitcoin Over Gold on: November 20, 2020, 07:46:17 AM
Do you agree with Deutsche Bank?
When you consider both assets over the past 10 years; Gold has sufficiently hedged against inflation, Bitcoin has done this as well, but not only is it dis-inflationary, it also has shown great price appreciation over the years, making it a viable long term investment option, definitely something that a person who holds gold would want to own in their portfolio.

Comparing this Deutsche Bank reoort with the JPMorgan report there seems to be fresh interest in Bitcoin from financial investors, I'm not sure it indicates they are dropping gold for Bitcoin (and I don't think it actually matters) as most investors are already very dip into gold, as such we should not expect huge money inflows as we can see in Bitcoin which is relatively still very new.
3725  Other / Beginners & Help / Re: What are keys and which ones are "secret"? on: November 20, 2020, 04:13:19 AM
mk4, i'm so paranoid i don't click on links at all.  like the link you posted i was scared to click on it and so i googled it and looked at search results and from there i went to the site itself lol.  this is how paranoid i am about clicking on stuff.  that's excellent info on that page thank you! easy breakdown.
This is fair, understanding the risks associated with an action helps to prevent you from falling victim. But rather than trusting yourself to be completely safe while browsing, a better option would be to store your bitcoins on a hardware wallet or an old laptop or mobile device which would be off the internet. On such airgapped device your funds are safe from attacks. Of course, if you do not hold too much bitcoins at the moment (<$50), it may not be worth it getting a hardware device just yet, so you can use your device while practicing all safety measures. Some more safety tips
• Use an ad blocker, so when you search on an engine to protect you from pop up ads or any other malicious link or you use a privacy centered engine, like; duckduckgo or Searx
3726  Other / Archival / Re: Will altcoins season come first or bitcoin will reach to new highs first? on: November 19, 2020, 08:21:37 PM
Altcoins has been hyped up for a couple of months now, especially with the DeFi fomo which opened up several new markets. If you're referring to the ICO pump we had in 2017, I do not really think we would have that in this market period, as the market has changed a lot from 3 or 4 years ago
About a new ATH, Bitcoin has been testing the $18k range for a couple of days now, actually going above it a couple of times already. And I expect we would build a solid support above that pretty soon, from there, $20k is well in sight and we could see a new ATH within the coming weeks. And as majority of the cryptocurrency market is correlated with bitcoin, there would be rises also in altcoins.

P.S, no need to write in boldened and bigger fonts, texts would as easily be read when in the default format
3727  Other / Beginners & Help / Re: Liquid Exchange hack: cyber actors stole personal data on: November 19, 2020, 12:44:39 PM
It's good that no amount of money is lost, however, the cyber actors where able to harvest "included real name, home address, emails, and encrypted passwords."

So for those who have an account in Liquid, and haven't change their password and emails, please do so.
They should equally change any other account they own using the same details. People sometimes tend to repeat passwords (or similar patterns) and use one main email address for important profiles, these could potentially expose them. The email address itself could get compromised if the password is related to the one used to generate it.

And since the hackers have stolen the email addresses, expect a lot of phishing emails, similar to what happened to Ledger breach wherein in the last month alone, we have seen phishing emails and there are people who have fallen for it.
If possible, affected users should quit using those email addresses, as even Liquid cannot verify the extent of the breach, and personalized phishing attempts would expose them to hacks.
3728  Other / Beginners & Help / Re: My trading story on: November 18, 2020, 07:04:36 PM
<...>
Sorry about your situation.
It's expected that people would be skeptical about investing in your skill again, especially if you've experienced huge losses before. And I would advise you do not try to get funds that way, especially if it's not amounts you can pay back should the trade go bad. As I said; slow and steady. Good luck!
3729  Other / Beginners & Help / Re: My trading story on: November 18, 2020, 06:52:38 PM
I had little money left  so I did few good trades... but its not enough to change anything Sad
The sad is this now that i know how to trade and im experinced that skills dont help me anymore!!
You should not expect to get life changing profit from trading within a short period of time. You say you have the skill and a little capital which has yielded some gains, try putting the gains back in and attempting to get some more, rinse and repeat. All these while keeping it simple and using minimal risk. You wouldn't want to make the same mistake again;
I use to trade cryptocurrency long time i lost a lot.
You shouldn't get overconfident and throw in huge amounts, especially if you're looking for other people to invest in you when you are in a desperate position. Grow your skill and also your profit; slowly and steadily.
3730  Other / Meta / Re: Why do people engage in pointless discussions with obvious trolls? on: November 18, 2020, 06:31:59 PM
In some situations, even if the OP is a low value topic, there can be some discussions within the thread which can be relevant and stir up more replies, so users engage that new line of discussion, which could be somewhat related to the original topic to not be completely off (it doesn't really have to be, as the OP was not a relevant topic).
It could also be to meet post count or the numerous other reasons already given here.

I'm not sure what I wanted to say now, but I'll somehow accumulate enough characters in this post to be eligible as a good and constructive post. if anyone answers me here, I probably won't reply, because this post will be overwhelmed with more quality posts like this.
Cheeky reply, I doubt there would be enough more quality replies to top this.
3731  Other / Meta / Re: Why aren't AUTO-BANNED user's threads deleted (or at least locked)? on: November 18, 2020, 04:35:51 AM
OP's get banned and their scam or spam threads remain.  I do understand they don't directly get banned for scamming.  
Spam posts gets deleted without the user who started the thread being banned, if you come across one the mods may have missed; drop them a report to draw their attention to it.

Scams on the other hand are not moderated, this means mods cannot take any action to that effect. Deleting thread is an action and would require the forum to have a system in place to check and verify possible scams. The DT and trust flags are in place to check scams, some boards in the marketplace section also has newbie warnings to tell users they are in a high risk area.
3732  Other / Off-topic / Re: Do I need to be in favor of the company I am advertising? on: November 17, 2020, 08:00:07 PM
while the campaign manager nor the casino didn't tell you to talk about them in the post you are to make, they surely want someone who will do that. but you doing it will be like kissing asses.  
This is actually usually wrong. No credible manager would expect participants to squeeze their brand into every discussion no matter how unrelated the topic is and there's only so many threads someone can make about a particular topic without being an obvious spam. Managers rather want users who contribute constructively while staying on-topic, their replies gets read more as other members expect quality from them and by extension the company is promoted.

Some brands favour spamming over actual organic advertisements and these are the ones who would require one to make threads about them or fix their link into every reply.
3733  Economy / Speculation / Re: Will there be a massive BTC dump? on: November 17, 2020, 01:18:37 PM
I think there would be a correction, but it would likely be a minor one. I also agree that the seasonal cycles of pumps and dumps, would soon give way to a more matured and less volatile market; so rather than having a period of pump followed by a long retraction which lasts long with the market losing 50%+ of its value, we would experience a more balanced market with less volatility, a minor correction (<30%) would still most probably occur between spikes.

As strong bitcoin rally continues and we may see ATH soon

We would likely see a new ATH soon, but this is just the beginning of the rally, we're still not where we were in terms of popularity and hype last time the price was in a similar range, so this value is not yet exciting majority and big fomo is yet to occur. The next really could last between 6 - 8 months.
This is not investment advice. Do your own research
3734  Economy / Speculation / Re: 11 BTC in vs 328 BTC out ... per hour? Impressive! on: November 17, 2020, 01:08:28 PM
Whether or not the data is absolutely accurate, it points out that;
"This is net flows of buyers over sellers"

If you simplify this to supply and demand, judging with the rate of production, institutional investors and public companies are buying up faster than new coins are being mined (IIRC), and this does not take regular investors into account. So, there is a disproportion between supply rate and demand, and with a fixed supply there is only so much that can be available for sale, but demand growth is infinite.
3735  Economy / Speculation / Re: Bitcoin $318K by December 2021 on: November 17, 2020, 09:29:59 AM
Any price is possible as the market is largely unpredictable. The argument that Bitcoin would be viewed as a safe haven to escape inflation is accurate and this would (already is) drive demand to Bitcoin. An increase in demand without a subsequent increase in supply would raise the value, but how high it can go within the next 1-5 years is the unpredictable question.

There are lots of figures being thrown around, but in my opinion, attempting to give an accurate amount to the tens (such as $318k) is not possible and seems more like just making numbers up, a range would be a more shrewd attempt.
3736  Bitcoin / Bitcoin Discussion / Re: What if China wants to takeover bitcoin? (Assuming controllable majority of hash on: November 17, 2020, 09:22:11 AM
This site puts the figure at approximately 81%, regardless of which is totally accurate, the majority of hashrate is concentrated in China, especially when compared with other countries;
Those are the pool's hashrates, not the hashrate that is actually located in the country.
Do you honestly think the Czech Republic has more mining gear that the Rest of the world - China combined?

That was well stated in the website I linked, in previous replies to mine and also in the subsequent paragraph of my reply;
"Chinese mining pools are favoured currently, so more miners from all over the world tend to join them increasing the overall hashrate"
3737  Economy / Service Discussion / Re: newbie question about changenow on: November 17, 2020, 09:14:55 AM
What confuses me still is that the super wealthy  can cash out billions of dollars in bitcoin easily and safely whilst the rest of us have to go through a bunch of hoops.
Over the counter trades can accommodate such transactions, such users could have a trusted individual through which they convert their assets. Or they can use the OTC channel on exchanges, such transactions usually have a minimum limit as the target audience are whales moving large amounts without wanting to influence the market. Here's an excerpt from Binance US OTC portal;

"The minimum trade size for the portal is an equivalent value of 10,000 USD, with 12 different coins and tokens initially supported for trading. Users simply need to have a KYC verified (Level 1) account on Binance.US to begin using the OTC Trading Portal. "

Makes me confused when they say it is for the little guy yet they do everything to accommodate the big guys.
Bitcoin is for everyone, regardless of position or class. The network does not recognize dollar amounts, just the protocol it is designed to follow. Your reservations about which exchange platform to use is not a direct effect of the network and also is shared by all. You just have to find the system that works for you;
• You can find a trusted service provider and sell OTC, or
• You use a reputable exchange for conversion purposes only and avoid storing your funds there.
3738  Economy / Scam Accusations / Re: Be aware : Fake Atomic Wallet airdrop on: November 16, 2020, 09:31:42 PM
Did you subscribe to a newsletter from Atomic wallet from that email address? Would be interesting to know if these scammers usually send out generic mails to random accounts they may have bought from the darkweb or if more times than not it's a personalized attack. It's likely the former in this case however, as I've not come across any information about a data leak. They're also probably requesting for email addresses which they can equally sell out or use later

Nice catch, reported as well.
3739  Other / New forum software / Re: If this forum ever gets an upgrade it should have markdown support instead of bb on: November 16, 2020, 05:48:30 AM
Not sure how to move it, from 'move topic' link there is no selection for move to 'new forum software'.
There is. Boards and child boards are arranged in the same order they appear on the forum (top to bottom);
Just below Economy -- Reputation, which is the last board in Economy section, is Other, and first on this is the New forum Software child board.
Other -- New forum software
3740  Bitcoin / Project Development / Re: Bitcoin Unit Converter: Convert satoshi, mBTC,Finney, μBTC to 33 fiat currencies on: November 16, 2020, 05:41:23 AM
Nice work, the site is useful and also very easy to navigate. I use a couple of currency converters, but none as robust as this, which can also serve as a block explorer and a balance checker.

I noticed a part which I suspect to have been a typo, generously seemed to be a better fit;
Quote
Webhosting gently generously donated by examplens
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