Have you tried paying a small amount in Bitcoin lately? BCH fees are 1000 times lower, so it can be used to pay a few cents. I don't like it, but it works. I prefer Monero though: fees are still 100 times lower than Bitcoin, but at least you're not supporting a total shitcoin.

Did you know you can just order a "Bitcoin cookie cutter" online?

Bump

But it's too high to go mainstream. I think we, as a family, make up to 200 financial transactions per month. If we'd have to pay $1 for each of those, that would take a significant chunk out of our monthly budget. Obviously this won't be fixed by removing Ordinals (and others), but this is how I compare costs when thinking about a scaling solution.

This is literally explained in the message shown to proxybanned users. People who don't read, don't deserve to be whitelisted.

Confirmed:

That's like a "pay2spy" solution for chain analysis companies. They'll have to donate before they can link transactions.

Kinda One large difference is that in Bitcoin, you can choose your own denomination. I've seen altcoins (BlackBytes) that have fixed denominations (like banknotes). In Bitcoin, unlike banknotes, your change is always one input.

I'm not subtracting "-1", I'm adding it (see this example) as a nonce. I could use "-2" to get the next address. In a way, they're like hardened private keys: if one leaks, it's not possible to find the next one.

Have a look at WarpWallet.

Lol. What I told you 5 days ago applies again:

First:

Now:

I'd argue chatbot verbal diarrhea is plagiarism by definition. I've already seen claims against those companies for using data as input without permission (which is a copyright issue). They reproduce bits and pieces of other data without sharing the original source (which is a plagiarism issue).

I don't call it "AI", because I don't see how this is "intelligence". It reminds me of fuzzy logic a bit. If it would be intelligence, those companies wouldn't need a human CEO

Last week. Your point being?

I see what you did there. Although I expect the total number of Bitcoin transactions excluding the ones spamming data to be less than the total Litecoin transactions. But more importantly: I don't want to have to move to altcoins, and I'm guessing I'm not the only one. I do have some small amounts for small transactions, but I'd prefer to use Bitcoin for that.

I didn't only mean Bitcoin transactions, I meant all financial transactions you make. I can pay by bank, without extra charge. I can pay by Paypal, they charge the receiving party several percent. I can pay by cash, no extra charge. Consolidating Bitcoins doesn't really count: that's the only thing where you have no alternative. For anything else, I have options.

That's why I don't mind using custodial LN.

Just like we may be the last generation who gets to hold actual paper money and metal coins. Chances are that's gone in a few decades.

I never liked "mobile" versions. This is a forum, most people on mobile write terrible short post (see what I did there?). You need a decent keyboard to save a lot of time posting. So I expect less quality posts if this forum becomes more mobile friendly.
A chatbox would be the opposite of a forum: chats usually aren't archived.

May I suggest an exception for pizzas that clearly belong together?

I could create a Segwit address from the resulting private key.

I think you're wrong, but can't prove it

Do tell: how? What standard encryption is heavy enough to keep $1000 secure for 2 years with password zLwMiR, even after giving hints? I'd like to use something better, but I haven't seen anything that follows a standard.
For the record: this exercise wasn't only about encryption, it was about remembering everything from scratch.

That's why I wrote it down

Since 2023, the problem moved the other way: there's much less blockspace being used for normal transactions.

If it would be easy, we'd have it by now.

Who's going to open a LN channel if it costs $50? And another $50 or more to close the channel? If something goes wrong (which has happened to me opening a channel), you're down $100 without any results.
In the past year, how many payments have you made that are worth $50 in fees? I can't think of anything.

I remember the end of 2017: blocks were full, and fees were crazy. Even back then, I felt like Bitcoin can't grow if it's too expensive to use. I'd like to make much more transactions than I do now, but the price is too high. Who's going to accept Bitcoin as a payment if it costs too much to transfer it again? I just paid my VPN, which I could have done with Bitcoin, but I used Monero.
You're saying there may not be enough demand to fill 10 MB blocks. I'm saying the lack of demand may be because it's currently impractical to use. As they say: "fix the money, fix the world"!

Agreed. It's not a permanent fix. But it may give Bitcoin some space to grow until there's a better solution.

How do you see Bitcoin in 20 years, if the majority of users can only "own" Bitcoin on a CEX or ETF?

My worry goes deeper: can it be a monetary standard if it can't be used by normal people?

I synced Monero's full blockchain a while back, and it's much more demanding on the system than Bitcoin's IBD, even though Monero is much smaller. If Monero would have more transactions than Bitcoin, I expect it to become impossible for home users to run their own node. I like Monero, but I don't think it can scale to many more transactions.

The only "worry" is for the amount being transfered. That's the part that can be replaced in a 51% attack. There's no moment all 19 trillion is at risk at the same time.

This is a better description:

I didn't know the address nor privkey. Now I know both again.

---

---

As an example (I did this online because it's only for testing):

• Go to bitaddress.org
• Click Wallet Details
• In privkey field, enter "longpassphrasetoremember"
• Tick "BIP38 Encrypt"
• Enter "extrapassphrase" and click Encrypt BIP38
• Click OK to use it as brainwallet
• The resulting encrypted privkey is 6PRKrgToVFyMzHL3qYa9Pq7e1ZugAiaYGYUxK2ccVaUoSeK9PYnqFti5Br
• Now create a new brainwallet out of "6PRKrgToVFyMzHL3qYa9Pq7e1ZugAiaYGYUxK2ccVaUoSeK9PYnqFti5Br-1", and use compressed addy 14ut6qNTdRaexXRtMjYQc7bkStr2FLNfhk 1BsQ1rYAi2nNpnqpCLyQS4fkV4dEf3jegB to store funds (don't use this one, obviously)
• Before funding anything, see if you can reproduce your address from scratch

This is what I did. By now, a Segwit version would be better.

Guess what: I figured it out! It turns out my mind had added a character to my passphrase, that shouldn't be there. Without it, I can recover the address.
To me, this proves (and/or confirms) 2 things:
1. My "it's all in my head" storage system works.
2. My "it's all in my head" storage system is far too risky.

The funny part is: I took notes of the method I used, because I wasn't sure I'd remember all the details (even though, as a relative Bitcoin Newbie back then, I didn't realize the first 2 steps could have been done in one step). What surprised me, is that I doubted the method I wrote down, and not the passphrase I memorized:
It was the other way around. It's funny how my mind tricks me into trusting .... my mind

Lessons learned
Don't do brainwallets Even though I'll keep this one for now, it's still not recommended. And if you do insist (which you should only do if you know for sure it's difficult enough to withstand brute-force attacks): keep a backup. Or just don't do it. But if you do, and if you can't restore it in the future: please open a topic about it

That's not much to go on. It gives 71,371 possible transactions.

I'm going to ignore all reasons why this is bad, and only focus on a technical reason:
You wrote this!

And you wrote this!

Now edit one of the "I quoted" texts and tell me which one of mine should be updated. It's impossible to know.