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3761  Bitcoin / Bitcoin Discussion / Re: Supreme leader's twitter account hacked - but that's not the main issue! on: September 03, 2020, 03:16:08 PM
It's always bad to have negative publicity, even if it's not very big, it all adds up in the long run, and there's not much positive news that can reach regular people. I doubt that anyone outside of crypto heard about the Pineapple fund, for example. Even Bitcoin's price rise isn't necessarily viewed as a positive, outsiders would simply not care. I hope that in the future Bitcoin will be more associated with opportunities for earning and spending money rather than scams and darknet markets.
3762  Bitcoin / Bitcoin Discussion / Re: Bitcoin Numerology +WTF on: September 03, 2020, 01:03:34 PM
Don't waste everyone's time with this pseudoscientific bullshit, you're only spoiling the image of Bitcoin with topics like this. Imagine if people were posting crap like this on a daily basis, then the newcomers would think that Bitcoin itself is some sort of scam if it attracts scammers like numerologists.
3763  Bitcoin / Bitcoin Discussion / Re: Bitcoin is here to stay on: September 02, 2020, 06:48:30 PM
Bitcoin is here to stay, even in the unlikely case it will lose most of its value and users, the network will be alive as long as someone is still using it, because the technology is that good. Bitcoin filled a unique niche - a way to transact money without middlemen, so the only way Bitcoin will disappear is if someone will do this task much better, but so far there has never been a coin that is even close to being a serious alternative to Bitcoin.
3764  Alternate cryptocurrencies / Altcoin Discussion / Re: Ethereum Classic was hit with another 51% attack on: September 02, 2020, 06:17:25 PM
Ethereum Classic Labs will attract regulators to protect from attack 51%.

Ethereum Classic Labs to Pursue Enforcement and Regulation of Hash Rental Platforms.


Lmao, when they want to attract investors, they are so big on decentralization and disrupting "legacy" financial systems, but when they get in trouble they beg the government to save them. So pathetic.

Strange to see that the price dropped only by 7%, by all marks this shitcoin should have been dead already, who seriously wants to use a coin that can get 2 days of its transactions wiped out? It's risky to even trade it, because the 51% attack can happen while you move coins between exchanges.
3765  Economy / Economics / Re: Winklevoss The Case for $500K Bitcoin on: September 02, 2020, 04:33:11 PM
The first line

Quote
Gold and oil have historically been reliable stores of value

is already bad, how can anyone say that oil is a store of value if it's a consumable commodity that is set to become less in demand as the world transitions towards others sources of energy, and historically oil had much more volatility than gold. I know that they have later in the article corrected themselves, but oil was never viewed as a store of value.

And the case against gold is rather weak, who cares about asteroids when we will be dead already. You can make a ton of points against Bitcoin with this level of reasoning - Bitcoin can get rekt by solar flares, nuclear wars, governments shutting down the Internet, quantum computers, etc.
3766  Bitcoin / Bitcoin Discussion / Re: Police reportedly seize South Korea's largest crypto exchange Bithumb on: September 02, 2020, 03:39:06 PM
Well, there you have it, the reason why the market went down today:
https://bitcoinity.org/markets/bitstamp/USD

At least this whole thing has nothing to do with major cryptos like BTC or ETH but rather a sketchy token. The drop in the btc price was probably caused by korean panic sellers shitting bricks after reading the headlines  Cheesy  cheap coins before we test 12k again? decent short-term profits =P

I though that today's downside movement was pure volatility as usual, but turns out there's a reason for that, huh. Well, that's nice, it means that we'll recover quickly when the panic will subside, and 12k will indeed be retested soon. It's kinda strange that such small and insignificant in the long term news can still shake the market, only shows that the liquidity of Bitcoin market is still pretty low.
3767  Bitcoin / Bitcoin Discussion / Re: you're making bitcoin complicated on: September 02, 2020, 03:14:05 PM
instead, teach them the basic about bitcoin which is a payment method where they can use online or they can do a person to person transaction


You gotta explain to people how Bitcoin is better than banks, because simply being an online payment method for p2p transactions is not enough, companies like PayPal and Venmo and countless others have been offering it for years, and with simpler user experience. Privacy is a perfectly valid point, these days people are paying for VPN and are installing anti-tracking addons, so there's nothing negative about that.
3768  Bitcoin / Bitcoin Discussion / Re: Not so far from getting BTC globally accepted! Pornhub now accepts BTC & LTC. ;) on: September 02, 2020, 03:04:29 PM
This is not new at all, do we already forget titcoin? it was an altcoin powered by the porn industry too, and the way to get some easy coins was by sending a tits photo, in theory, they should be real ones. So, the cryptos have been on the porn side since some years ago...

No one cares about altcoins dedicated to some single use, like this titcoin that you mention, or weedcoins or whatever, they were always been shitcoins, because this idea of having a separate currency for every use case is stupid, the whole point of money is to make it exchangeable for everything.

You'd expect controversial "services" like porn sites would be the first to adopt bitcoin due to people probably not wanting to pay through their credit cards. But noo they decided to add that shitcoin Verge(XVG) first. But whatever, better late than never.

Shitcoins can offer companies a lot of $$ for partnering with them, Bitcoin gets adopted because it's actually good.
3769  Economy / Economics / Re: Remote Working and Inequality on: September 01, 2020, 06:02:41 PM
I don't expect any miracles from remote working in terms of it's economic effects. For starters, it's quite debatable whether it raises productivity or not. I've seen a lot of software companies having to delay their products citing remote work as the reason. And even if in general it's positive, it might be only a small improvement, so the companies might choose to not adopt it after the pandemic ends.

Next, this switch to remote work doesn't mean that there's suddenly a lot of new job offers. What happens is that existing jobs were made remote. If economy will continue to sink, there won't be a lot of new jobs, remote or not.
3770  Other / Beginners & Help / Re: How to be useful to the forum ? on: September 01, 2020, 02:22:08 PM
Hello,

I was told by *someone* that in order to achieve something here, I need to be useful to the forum first.


Achieve something as like what? Join a signature campaign? Earn 1000 merit and become Legendary? Become a well-recognized member of this forum?

Imo this is a wrong approach to using this forum. It's not a career, it's a place to discuss Bitcoin. Just do whatever you want to do, as long as it doesn't brake forum rules. Visit the boards that are interesting to you, read posts, reply to people. Start threads sometimes, if you want to share something interesting with other users. Ask questions, answer questions if you know the answer. But never feel that you have to prove something to someone.
3771  Other / Beginners & Help / Re: Suggestion to Make at least $300 Worth of Bitcoin per Month on: September 01, 2020, 02:17:20 PM
It's a very common misconception that there are some special ways to earn money through Bitcoin. But in fact, the stuff you can do with Bitcoin, you can almost always do with your local currency. In the first place, don't forget that Bitcoin is just a different version of money. There's no secret way of earning money off it.

Well, things like mining, signature campaigns, staking and others are exclusive to Bitcoin/crypto, so it makes some sense that people look towards crypto if they are looking to make some money, they probably heard from their peers about how it's possible to do so.

But to answer OP's questions, there's no Bitcoin specific moneymaking methods left that are suitable for regular people. Mining is expensive to start, signature campaigns don't accept newbies, trading requires skill, staking is way too risky and requires investment, same goes for DeFi.
3772  Bitcoin / Bitcoin Discussion / Re: The Truth About Bitcoin's Green New Deal. on: August 31, 2020, 01:06:58 PM
Bitcoin advocates have argued that mining could preserve surplus energy by turning it into an alternative store of value.

This is stupid, you preserve energy by building something like this. Bitcoin mining spends energy, you can't turn a block back into electric power.

Projects around the world are looking to use surplus energy from hydropower, wind power and natural gas to mine Bitcoin.


This can be used to make these types of power more economically viable, but from a point of view of energy efficiency, this isn't a real solution, compared to actually saving energy.
3773  Alternate cryptocurrencies / Altcoin Discussion / Re: is defi reason for skyrocketing fees? on: August 30, 2020, 11:52:16 PM
DeFi both creates the demand for transactions itself and boost Ethereum's price, which also creates demand for transactions. When Bitcoin sees a big price action, it also sees a jump in fees, because traders move coins in, out and between exchanges, and since they deal with thousands of dollars of value, paying $5 is a no big deal for them.

If your transactions can wait, try to wait for the calmer periods on the market, it usually happens on weekends.
3774  Bitcoin / Bitcoin Discussion / Re: Electrum update: A trader lost 1400 BTC on: August 30, 2020, 11:41:06 PM
The ability to send any sum of money without any additional verifications is both strength and weakness of Bitcoin. No one will ever freeze your money, but also no one will ever check if it's truly you who are sending the transaction. With banks you would be contact by their representatives for far smaller sums than this one, and transaction will take a long time to clear, giving you chance to cancel it if it wasn't you.

Blaming Electrum for this is moronic. This is like clicking on a random link in an email, downloading the file it leads you to, and then being shocked when your personal data is stolen by malware.

It's really not like that, an email you can receive message from anyone, so it's expected that some will be malicious, but this Electrum bug made messages from nodes look like they came from the wallet itself.
3775  Bitcoin / Bitcoin Discussion / Re: I can't wait until I can pay using bitcoin at the supermarket on: August 30, 2020, 04:14:37 PM
And LN still has a bigger learning curve than the layer 1 so, It is probably not going to happen any time soon.

Something like doge would work better than btc probably but again, it won't last forever because doge has its limitations too.

Ideally LN will be simpler to use than on-chain, sending transactions is already much simpler because you just have to paste the invoice, which can be done via QR code on mobile devices, so there's less room for error. Opening the channel is probably the hardest part, maybe in the future  there will be specialized wallet software that makes it as easy as possible for non-technical people.

Not only Doge has limiations, like any altcoins it's much more volatile, so it's a really bad currency.
3776  Bitcoin / Bitcoin Discussion / Re: When Bitcoin Maximalists are Promoting/Shilling an Altcoin on: August 30, 2020, 10:26:28 AM
I find crypto Twitter very useful myself. It's far better to have a self curated news source on there than any of the piece of shit news sites. You fairly rapidly learn who's a moron and who isn't and it's the information they come up with faster than anyone else that's interesting, not their opinions.

In retrospective, 99.9% of those news and ideas feel insignificant, and if truly big thing happens, I'll see them posted on this forum or on reddit. There's really not much going on in crypto, despite the fact that each news site makes a dozen of articles per day. Even the really big news from the past, like "China (un)bans Bitcoin" really didn't have that much effect on anything. And it's easy to waste so many time reading pointless discussions on twitter, and the only people who benefit from it all are influencers, aka shills.
3777  Bitcoin / Bitcoin Discussion / Re: When Bitcoin Maximalists are Promoting/Shilling an Altcoin on: August 30, 2020, 10:07:01 AM
This article explain quite well what has happened.
With the above sentence I mean it explain quite well why they decided to issue a token, why it is different both from an ICO or from an equity offering:

Bitcoin Maximalists Get Dragged for INX Hypocrisy

Even if the title is quite promising, the article do not explain at all is why the hypocrisy. And then why the subsequent twitter shitstorm.
Thinking about the person involved in the newslet, it is not difficult to understand why.
Hypocrisy over hypocrisy.


This is the newly-launched Bitcoin/crypto news site from some of the same people who got caught in the shitstorm. No wonder they defend those who are being accused in this scandal. This just shows how important it is to check the source of anything that you read.

there is a lesson to be learned here though. people should never trust anyone who is asking for money. whether it is obvious begging or elaborate begging also known as fundraising also known as ICO which has aliases such as STO, IEO, and nowadays DeFi.

I'm so glad I unsubscribed from all of the crypto twitter a few years ago. Of course I never took any financial advice from it, but it's much healthier to not follow any celebrities in general, especially on social media platforms that don't promote quality discussion.
3778  Bitcoin / Bitcoin Discussion / Re: Bitcoin's Case As A Hedge Asset Continues To Grow on: August 30, 2020, 09:24:44 AM
this is really sad because bitcoin is not an asset nor a hedge. it is a currency and even though currencies could also be used as both but the primary identifier remains the same. nowadays i see more and more people refer to bitcoin as an asset which i guess is the result of bitcoin price always rising.

Anything can be a hedge as long as it acts as a hedge. And as for asset, it's literally anything precious, so Bitcoin is an asset too.

that's just the market size difference. in a much bigger market with packed orderbooks which is also controlled by centralization and even government it is a lot harder to see huge volatility such as sudden crashes than it is to see the same in a decentralized small market with tiny orderbooks.

Yeah, but investors don't care about this, all they care about is how to make money and how to preserve their gains. Big market, small market, regulated, not regulated, no investor is going to cut Bitcoin some slack just because it's different from other investments.
3779  Bitcoin / Bitcoin Discussion / Re: Is bitcoin on lightning network a different form of money? on: August 30, 2020, 01:50:04 AM
But it doesn't exist in my wallet until its broadcast and added to a block... so how come the fees are nominal or zero?


Fees are low because there's no expensive resource like block space for transactions to compete, only the nodes that route transactions know about them, so the capacity for transactions is much higher. On chain a full nodes stores all transactions in Bitcoin's existence, forever, which is why we have the block limit and why transaction fees get high sometimes.
3780  Other / Beginners & Help / Re: Some common unnoticed errors most newbies and some users make on: August 30, 2020, 12:47:24 AM
2. Sourcing/posting for merits
As much as many of us will fail to admit, we are often guilty of this habit of creating OP targeted at being merited. The forum rules out the begging of merits but posting with hopes of being merited is an abuse of the merit system as well. Thought not stated as a rule, it creates a menace in the system as it results in the creation of unnecessary posts which fills the board and might not be even knowledgeable of the contents of their OP after pasting. This is most likely as such users grow throw the ranks without learning the basics of Bitcoin as a cryptocurrency.

This board is the worst offender, so many "motivation for newbies", "general guide for newbies", poorly written technical guides that are all just blatant merit fishing. I get that people want to rank up fast and start earning from campaigns, but you really can't get high amounts of merit with these methods, even if ranking up is your main goal, you should just take things slowly, and use this forum like a normal user instead of a merit farmer. Merit will come with experience and time.
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