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3881  Economy / Speculation / Re: BTC - What next? on: October 08, 2020, 02:26:46 PM
Bitcoin has been stagnating for a long time. The expected increase after the Halving did not happen. I think COVID-19 plays a role in this. The way it is going for a little longer, people may get bored and start turning to cash. As a consequence, this lowers the price of bitcoin.
I don't think people genuinely expected an immediate increase to happen right after the halving, except investors simply looking for a quick profit. That is not how the market works, pre-halving was seen as an opportunity to get in at a much lower price (below $10k) and prepare for a bull run within the next months which would range into a year or two depending on market factors. If there's no significant push in about May next year, which would be 12 months after the halving, then most would be bored and start to seek alternative investments.

Covid 19 played a role, as it caused economic crisis, limiting the amounts people had to invest in assets like bitcoin. It however also exposed frailties in fiat pushing people to seek an inflation resistant asset.
I don't see people switching back to fiat, even though the market remains sideways for a much longer time, that would be a bad decision and such investors would likely try to get back into Bitcoin later on, using a more devalued fiat against as asset with a growing value, which could lead them to get caught in a bull trap.
3882  Economy / Economics / Re: Cryptocurrency Adoption: A Breakthrough? on: October 08, 2020, 10:24:09 AM
High volatility is an advantage. All other things become irrelevant with a good crypto payment card
High volatility is an advantage for speculators who invest and trade bitcoins, but I do not see how it can encourage people to use Bitcoin for regular daily payments especially when it is still valued in fiat.
If I had $50 worth of BTC one day and planned to get a new outfit or gadget the next but due to volatility the value drops to $45.6, I would not be able to make my purchase and would have to wait for the price to go back up (Except, the payment mechanism (in this case binance card) converts cryptocurrencies deposited into fiat and holds it in that value). As long as there is speculative value, people are less likely to use it for regular payments.

Fiat depreciation does not speed up adoption, it does not matter if there is a cryptocurrency adoption if the services you can access is very limited, businesses will have a hard time doing a 180° because most of their models are not suited to crypto payments,
To an extent, depreciation of fiat favours alternative payment methods like bitcoin. Of course using bitcoins as a payment mechanism is still limited due to its volatility, transaction rate and fees, but it's an evolving system and there are 2nd later systems businesses can use, like Lightening Network which would facilitate transactions.
Besides being used for payments it can also be accepted as a Reserve currency over fiat and other assets.
3883  Bitcoin / Bitcoin Discussion / Re: Are people giving up on Bitcoin too quickly? on: October 08, 2020, 07:24:55 AM
<...>
People who are losing patience with Bitcoin after just 10 years probably never intended using it in stores or for daily payment and are only interested in how much profit they can make in as little time as possible. Bitcoin is still at its infancy sage as you pointed out, and most financial instruments it is competing with, like gold, fiat and stocks are centuries old, so it would take a while for it to take off and go mainstream.
There's is also multiple utilities for Bitcoin depending on how holders view, it can serve as a store of value due to its resistance to inflation, in which case it would not need to be used for daily payments, it can be used as a digital cash for peer to peer transactions, it can equally serve as a speculative asset due to its volatility.

I suggest for this people who want to give up on bitcoin, they should do some research first or join forums like this so they can be knowledgeable about bitcoin, it will help them know if the bitcoin is worth giving up.
Not everyone who gives up lacks knowledge on the potential Bitcoin has, most could have invested due to the hype with little or no strategy at the time, probably using funds they can not afford to lose. So, now they are at a loss and can not afford the patience of waiting extra years.
3884  Other / Beginners & Help / Re: Don't accept 0 confirmation tx on: October 07, 2020, 09:07:50 PM
Is it possible to cancel a transaction which got one confirmation? Its not really possible from what I need because once the transactions included in the blocks then there is no way of reversing it other than 51% attack
Technically, it is not possible to reverse a transaction which has been confirmed and included into the valid chain asides with an attack on the network.

so we can trust 1 confirmation is enough for any transaction to get accepted or correct me if I am wrong here.
Putting it into perspective; an attack on the network means an entity controls majority of the hashrate or more than anyone else, creating a monopoly on the network. This is very expensive and can not be realistically maintained for a long period of time.
51% is used to indicate one who controls majority of the network, this is the range where it becomes possible to manipulate the network and reverse already confirmed transactions, it is still very difficult to actually implement from here on. One who controls less percentages than that (<51%) can still try to manipulate the network but it is much less probable and still expensive, this is why there is an advisable range for transactions to be considered irreversible;

• 1 confirmation would be okay for low transactions as it would not be worth it for someone to try and reverse.
• For extremely large transactions, like $1 million and above, it is possible and profitable for someone who controls majority of the hashrate for a little while to manipulate the network and invalidate, so it is advisable to wait at least 6 confirmations.
• For intermediate amounts, between both extremes, 3 confirmations and above should suffice.

The deeper a block is in the chain the more secure it is, reason why it is advised to wait for more conformations when dealing with much larger amounts.
3885  Other / Beginners & Help / Re: 75 crypto exchanges have closed down so far in 2020 on: October 07, 2020, 04:12:37 PM
people just invest on altcoins and lost investment capital(s).
This has been a trend over the years especially during the hype of ICOs. Investors were simply randomly selecting newly launched coins, putting their money in and expecting a huge ROI after a few months, this worked for a while, apparently, up until the hype died down. I say 'apparently', cause there were still fake and low performing projects during the hype period, but the noise of the hype likely drowned them out. When the hype died down eventually, lots of fake projects started to fail and new ones barely took of leading to huge losses for investors, shifting some of them out of the cryptocurrency space and others to Bitcoin.

I know that Kucoin has been hacked recently, but this is the first news about them being shut down, I couldn't find their name in that article you shared. Care to share the source of that news about Kucoin?
I can access their website pretty fine from my end, although I do not have an account, I do not think they are shut down. They also tweeted few minutes ago about resumption of deposits and withdrawals;
The Latest Updates about #KuCoin Security Incident:

BTC, ETH, USDT deposits and withdrawals have resumed
$MVP has completed the Token SWAP
Full services have now resumed for 70 projects

We will continuously update the progress: <insert link>
3886  Other / Meta / Re: Bitcointalk Twitter on: October 07, 2020, 08:40:53 AM
Really?  I thought he still had some sort of serious pull as far as the forum is concerned (though I'll admit I don't keep a close eye on forum politics).  How long has it been since Cøbra hasn't been "associated" with bitcointalk?
Well, I'm not talking about influence, they can remain friends, it's their own business. Their paths finally parted ways a few years ago, theymos is not related to bitcoin.org and Cøbra is not related to bitcointalk.ogr. That's why I assumed theymos is the only owner of the twitter account (since it's a bitcointalk asset).
To answer The Pharmacist's question directly, theymos made the update to domain names on April this year, so safe to assume that was when they both cut connection from the other website after years of minimal involvement from both parties.

...
However, Cøbra has never had much involvement in bitcointalk.org's operation, and I haven't involved myself in bitcoin.org for a couple of years, so the linkage between the two no longer really made made any sense. Therefore, we decided to separate the domains: I no longer have any access to the bitcoin.org domain name, and Cøbra no longer has any access to the bitcointalk.org domain name. The two sites should be viewed as totally separate, which in practice they have been for years.
...

Because I clearly said twitter would be used for posting short stats or posting screenshots, and not for writing long posts.
I don't think forum stats have been of much importance to theymos, and cherry picking posts to screenshot on an official social media account may not be a good idea from my PoV.
This may however be a good pet project for someone who is genuinely interested in promoting the forum on social platforms as there's a growing interest in Bitcoin on these platforms like Twitter, and no restriction to create an unofficial account, if you find someone to organize it with, you are free to do that.
3887  Economy / Speculation / Re: History repeats itself? on: October 06, 2020, 09:09:15 PM
To me, the March crash had the feel of a capitulation like January 2015, but we never had that long boring despair period that came afterwards. With so many bulls thinking a parabolic bubble is coming soon, I wonder if the market is setting up to disappoint them with a shakeout and months of boring sideways.
2018 to about early 2019 felt like a 'long boring despair period' in th market. IIRC, the price hovered around 3k to 6k after the crash from the ATH in 2017, holding this range for a number of months and causing lots of bearish sentiments among investors and traders. March dump was probably not a repeated sequence in a pattern but just an effect of factors that influence the price.

I would not be too surprised if the market does not break through an All time high in the next couple of months, as people expect and as a couple of indicators have been pointing towards, although I expect we would see a new ATH within the next 2 years at most.
3888  Bitcoin / Bitcoin Discussion / Re: IOCTA 2020 – Internet Organized Crime Threat Assessment (Europol) on: October 06, 2020, 07:04:05 PM
I was wondering why United State SEC in a statement last year, 2019 says bitcoin is not used in money laundering and terrorism financing, I believed criminal activities of 1.1% is very low and would be the reason.
The narrative that Bitcoin facilitates scams has been misleading and is getting less popular. It's not possible to make a direct comparison with alternatives like fiat, as it is far less transparent, but 1.1% is very low.

That aside, expect more KYC in the future, and crackdown on exchanges/centralized services.
This has been a recurring discussion for some time now; the increasing consequence of seeking privacy while using cryptocurrency. If more users of Bitcoin shifted away from centralized platforms, government agencies would not have a link that they can regulate.
Most users patronize CEXes for the liquidity and the convenience it offers as there is not enough P2P platforms to cater for global transactions. DEXes can offer such liquidity if more traders used it, but it is still somewhat regulated and can be shut down by governments or forced to request user information to operate.
I would also expect a lot more regulations as various governments consider establishing their CBDCs to control the digital market.
3889  Other / Beginners & Help / Re: Newbie's observation. on: October 06, 2020, 09:44:57 AM
A few years back there was no merit system implemented here making it much easier for members to rank up based only on activity score, ICOs were also at its peak, meaning there were lots of project popping up on the forum with opportunities for hunters to earn through campaigns, this attracted lots of spammers to the forum reducing the quality of discussions, I would assume this is what is happening on cryptotalk, although at a higher scale as the forum specifically pays users to post inorder to increase traffic.

Bitcointalk has struck a sort of balance between maintaining quality and allowing users the freedom to profit off their efforts on the forum, unlike other forums that try to reward mindless spamming. The merit system does well to prevent spammers from ranking up or creating huge farms, and ranking up requires effort, meaning the user would have to develop themselves and contribute somewhat quality content.

Bitcointalk, of course, has its fair share of spammers, but the system makes it progressively more difficult for them to benefit from the forum, driving them to select boards or to other forums.
3890  Other / Meta / Re: If you see a copy-paste topic from newsletters on: October 06, 2020, 05:15:50 AM
If you see a post looks lengthy and have good information but at end of it, poster leaves a source to a newsletter article, will you send merit to a poster?
Asking if one would send merit may be the wrong question, as merit does not indicate approval of a post, you could rather ask if the community considers that to be healthy practice.
A copy and pasted post should be evident even before the reader gets to the source link. You can use the quote tags or insert it between "..." I personally change the text to italics sometimes to show it's taken from another source as quote tags can make a thread untidy especially when used multiple times.

- Fill up weekly post quota
This is possible and any user who regularly churns out public articles without adding any personal note or comment is trying to do the bearest minimum to complete their quota.

- Try to copy & paste & source to earn merit
Some users may genuinely want to share quality contents with the community, some may be promoting their websites, so it is not always a merit grab attempt. However, such pure articles should be posted in the Press board (if it is notbale enough), which doesn't get much attention or merits these days. Posting outside here may be an attempt to make it count to their weekly quota as some managers do not accept posts made there or the user could be trying to get more attention and a chance of getting merited.

- Does a poster write about own opinion and discussion on the newsletter article?
I definitely think this; if done right, with effort, external articles can be used to create thought provoking discussions.
3891  Other / Meta / Re: How to Improve position rank on: October 05, 2020, 09:19:28 AM
Ranks are determined by;
• Merits, these are given to you by other members if they find your contributions to the forum helpful. Putting in effort into your posts and replies would improve the quality of your discussion and increase your chances of getting merited. All your posts before this one has been bounty applications in the altcoin section, those type of posts do not contribute to the community and decreases your chances of ranking up.

• Activity, this is determined by your posts within activity windows. You can only get 14 activity within a 2 week time frame.
Use the search feature as suggested above to get more information about ranking up. You can use this thread to learn how to properly utilize the search option.
3892  Other / Meta / Re: Bitcoin talk could fix the spam in one move....REMOVE SIGNATURE...Right?? on: October 05, 2020, 09:06:13 AM
when there's no motive to do that they're not going to waste time and money policing themselves when as much spam as possible baring their signature is beneficial to them.
This is where most campaigns get it wrong. Quantity over quality means your signature would likely appear under posts of users spamming the forum who may be ignored by other members, or it would be made in spam mega threads and boards only visited by other spammers, so no promotion is actually being done, as the target audience does not get to see the ad.
Spam wound not help any genuine project build engagement, it can only be useful to scammers looking to attract unsuspecting newbies to their HYIP projects like we saw with Cryptotalk/Yobit.

Overall, removing signatures would only dissuade genuine projects from advertising on the forum, actual spammers would always find a way to jump through hoops to cheat the system. Although, there would be far less engagement to attract them without signatures.
3893  Other / Off-topic / Re: Too Much Of? From Crypto Content Creators on: October 05, 2020, 06:46:47 AM
What are some of the things you see too much of from many Content Creators?

What are some thing you feel many are lacking when it comes to content of information about crypto?
I do not much follow crypto content using YouTube so I would answer from a general stand point (including articles, podcasts etc).
One thing I see too much of is 'clickbaits'. Content creators, in trying to build their audience use various tactics to attract traffic, this is not inherently a bad practice, but when done with little or no back up content or using inaccurate information it would have a negative effect on the community.

What is lacking from my PoV is reliable creators who give out undiluted information with the sole motive of educating the audience. Such creators may not 'trend' often, but would eventually stand out from the pile.
A lot of them started of this way, but as they gained more relevance, offers to quickly monetize their audience by promoting below par projects came along and some jumped on that.

What types of things maybe Content Creators should focus on?

What interests you most to watch a specific content creators?
I would answer both questions together as they are somewhat related;
What keeps me hooked and what I think creators should focus on are, relevance and entertainment.
A creator should find their preferred niche where they are most educated in and stick to that, this improves their relevance and allows their select audience find them easily. Entertainment value is what gets their audience through their videos, articles or podcast recordings.

Of course I am not preying for tips? Just like to find feedback from everyone here. Who Feels that they are not getting what they want from the video community?.
It's almost impossible to find a whole community that appeals to everyone. There would be the good, bad and of course, the shills. The trick is to filter the bunch, find what is beneficial to you and stick to that.
3894  Economy / Gambling discussion / Re: Question: Is there any websites where I can gamble crypto under 18? on: October 05, 2020, 04:17:44 AM
Most crypto gambling sites don't require KYC. All you need to do is to tick on the box confirming that you are already 18 years old or above, and there you go, you're in. But you should know you are doing something illegal.
Gambling platforms allow this mostly to attract more visitors and to make their website user friendly by encouraging privacy, however should the user get a huge win on the platform while gambling illegally, they would have to provide some means of identification to claim they rewards. This could be a problem if the user is not above the age requirement.

I wish more gambling platforms would pay more attention to ensuring consumers gamble responsibly; If a user would need to verify themselves to withdraw certain amount thresholds, it is only fitting that they would also need to verify themselves to deposit similar amounts on the site. It is difficult to completely eradicate underage gambling, but through this they would be protected to an extent and would not lose too much to the site.
3895  Economy / Economics / Re: Thoughts on BTC within Hyperinflationary/Economically Authoritarian Countries? on: October 03, 2020, 10:34:41 PM
What are your thoughts about BTC being use as a store of value in hyperinflationary/ authoritarian economies like mine (Venezuela) ?
Bitcoin is flexible, meaning people use it differently based on how they view it; it can be a store of value, although it is highly volatile. It can also be considered as an alternative investment which is resistant to inflation due to its controlled supply and fully decentralized.

Do you think is it an opportunity for bitcoin in terms of adoption?
Yes. Bad fiscal policies would negatively affect the currency and reduce the confidence of the citizens, leading then to seek alternative assets to escape currency devaluation and inflation, resulting in increased adoption of Bitcoin. This is the situation in turkey where Bitcoin crossed its ATH against their local currency.

Do you think that people within this situation should opt for other more conservative alternatives?
Investing is a personal decision and would depend on the individual's knowledge, level of risk tolerance, amount they can spare on investments etcetera. It's also not a case of one or the other, with an efficient investment plan a person can hold bitcoins as well as more conservative assets like Gold.

What would an authoritarian government do when realizes people is using something they cannot completely control?
Regulate it, to reduce usage and also generate revenue as it can be taxed. A more extreme approach would be banning it.
3896  Economy / Economics / Re: ECB prepares for the Digital Euro. Good or bad news? How long will cash last? on: October 03, 2020, 08:57:55 PM
1. Which would you prefer to have as a payment choice: Cash, digital Euro or both?
I would rather transact using cash than a highly transparent and regulated digital currency. I would also want people to have the freedom to choose which they prefer to accept as a payment. So, cash or both.

2. If cashless society is the future, how do you think this will affect our personal lives?
Finance is a universal language and has been used for years by governments to maintain control by regulating money flow, inflation rate, availability of loans and so on. A completely digital currency would mean full transparency and as it would be centralized, the issuing body would have full control of holder's funds.
In the recent kucion hack, issuers of centralized tokens that were stolen locked some of the looted funds, so the hackers could not make away with it. This would be similar to the sort of regulations that would be present in a digital fiat currency and could be used on anyone. In summary it would result in;
• Lack of privacy
• Lack of control.

3. How could privacy still remain a right of ours if, at one point, digital Euro becomes the only option we have?
Imo, privacy would be waved off. I would assume there would be higher demand for decentralized currencies like bitcoin or other less regulated assets like Gold and silver to keep transactions off the chain.

4. While digital EUR surely does allow authorities to better fight criminal activity, it does also allow them to actively monitor your financial life. As decentralized privacy-focused currencies are never going to be a bank's choice, we will likely have to sacrifice one of the two. Which would you sacrifice, if you had the choice?
More efficient criminal investigations at the cost of financial freedom? I would definitely pick financial freedom, scams and frauds have gone on in the banking sector, and I don't think any agency should have full control over the flow of money, especially as a utopian society does (and would) not exist.

5. How do you think Bitcoin will be affected? Will there be more demand for it? Will there be harsh restrictions?
A line from the original article caught my eye regarding how it relates to Bitcoin;

"The Eurosystem task force, bringing together experts from the ECB and 19 national central banks of the euro area, identified possible scenarios that would require the issuance of a digital euro. These scenarios include an increased demand for electronic payments in the euro area that would require a European risk-free digital means of payment, a significant decline in the use of cash as a means of payment in the euro area, the launch of global private means of payment that might raise regulatory concerns and pose risks for financial stability and consumer protection, and a broad take-up of CBDCs issued by foreign central banks."

Bitcoin would roughly fall under such global means of payment which spurred the idea of a digital Euro, meaning it could be considered a threat.
I believe there would be more demand for Bitcoin by users who wish to maintain their privacy. I also think this would come at a cost as government agencies try to maintain control through more stringent regulatory laws.
3897  Bitcoin / Bitcoin Technical Support / Re: How is this possible ? A Recent transaction suddenly becomes invalid on: October 03, 2020, 03:53:11 PM
this double spend..whats the benefit ? only good for cheating or ?
The only legitimate benefit I can think of is to 'unstuck' a transaction.
If I initiate a transaction using a very low fee without setting the RBF option, my transaction is likely going to get stuck, (how long would depend on how clogged up the network is);
• Once a transaction is signed and broadcasted, it is validated by nodes and appears in the mempool, where it would then be picked up by miners and included in blocks for confirmations. A transaction can stay in the mempool for approximately 2 weeks before it is dropped if no miner takes it up.
• To avoid waiting this long the sender can initiate a double spend or use CPFP ~ Child Pays For Parent, to unstuck the transaction. So they send the exact same UTXO to another address and can then perform the initial transaction with a higher fee.

It's not cancelling a transaction it's basically rebroadcasting a transaction. It's like redoing your homework when you did it incorrectly the first time.
Double spend is a bit different from a typical rebroadcast. In double spend you're not rebroadcasting as a new transaction is created with a different output and a much higher fee.
3898  Other / Beginners & Help / Re: Don't accept 0 confirmation tx on: October 03, 2020, 03:39:12 PM
A lot of users of Bitcoin are unaware of what double spend is and wallets like electrum adds the unconfirmed transactions to their address as soon as it is sent, making it easier for them to be tricked that they have already received the funds in there wallet.

Therefore, don't accept zero confirmation tx. Wait for at least 1 confirmation.
The 1 confirmation rule is sufficient for smaller transactions; below ~$1,000. If however a transaction involves a significant amount ~ $100,00 to $1,000,000 6 confirmations would be advisable, for it to be considered irreversible, although in reality what it means is that, the transaction would be too expensive to invalidate and the scammer would be spending more than the amount involved to attempt such an attack on the network.
3899  Economy / Speculation / Re: Bitcoin, Stocks Fall as Trump Tests Positive for COVID-19 on: October 03, 2020, 03:14:09 PM
Imo, Bitcoin was relatively unaffected. A 2% increase or decrease in price is not out of the ordinary and does not have to be based on any specific event. The fact that the price held off so well is also an indication of the increased stability in the value of Bitcoin.

A couple of years ago, news like the U.S president getting a virus or a major exchange being involved in shady deals could have had a much more significant effect on the price of Bitcoin, the price has however held off above the $10k mark, as it has been for a couple of months now.
3900  Other / Meta / Re: Doxing on: October 03, 2020, 02:49:05 PM
I do care a lot about privacy and I think no matter what you've done, other people that are not in authority should respect that privilege. Best thing to do is file a case report if you can.
I agree with this. Scams are unmoderated on the forum, so there is no system to confirm that someone indeed committed a violation besides evidence posted and judged by other members. The scam accusation board should be the first section to report scams and based on evidence provided, a negative feedback or trust flag can suffice.
Only extreme cases should be taken to the Investigations child board. Such cases could involve;
• Someone who is impersonating another individual. Proving who the person really is would indemnify the other party,
• Someone who is an immediate threat to the public, etcetera...

Authorities aren't always able or willing to solve problems, and doxing can allow for easier spotting of various scammers.
This is true about authorities in some situations, but imo, legal action is still a relevant step to take before posting someone's private information on a public forum. The internet never forgets, and even if the person is later proven to not be guilty of a crime, they cannot regain their privacy.
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