did they sell at a loss?
Who cares about that. The important thing is that this is an excellent news. Every time a big whale sells their bitcoin or a large portion of it, that is an excellent news because market manipulation capability shrinks. Not to mention the risk of them panic selling when their businesses go under. In other words it is always better to have 1000 people own 1 bitcoin each than to have 1 entity owning 1000 bitcoins. |
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I doubt that anybody has ever manually typed the address since they are all long and most of them have about 30 characters and entering that many characters without any mistakes is extremely hard regardless of case sensitivity.
As it was mentioned copy pasting the address or scanning the QR followed by a quick verification is the method everyone should use.
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One thing that should be clarified is the definition of "implementation". In my opinion if you are translating code from another project/language into your own project/language then you are not "implementing" anything. If any bugs exist in the original project it will be transferred into your project and additional bugs will be introduced during translation since languages are different.
For example some implementations of BIP32 that copied each other without understanding the protocol had a bug where they didn't pad the keys properly when hashing them. It happened because they were copying each other instead of implementing the protocol. Other stand alone projects that actually implemented the protocol like Electrum never had such a bug.
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the question arises why they became so dependent on Russia, especially since they saw what happened in 2014 and in 8 years they did nothing to find alternative solutions.
Because EU has zero independence, all their policies are written by United States and they just follow it like slaves. Take the situation with gas for example, Iran has more gas than Russia, there is even a very high success rate when exploring for more. Despite all that and the fact that EU members stating they won't follow the US sanctions, even during the sanction removal in 2015 they never really buy Iran's gas/oil simply because they were ordered not to by US. There were even plans to connect a pipeline from Iran all the way to EU like NordStream but again the orders came down and they obeyed  Today it is too late to undo 4 decades of bad decisions... |
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I did not find an estimate of how much money is currently on the sidelines, but if that amount was around $5 trillion last year, given the current state of the market, it is possible that that amount is much higher.
My speculation is that when the money exited bitcoin, it had nowhere else to go since most other markets were dumping with many of them dumping hard without any hope in sight. Also the good thing about bitcoin is that it doesn't need that much money to shoot up, all it takes is breaking a resistance and forming a strong momentum then all that money comes back. But also it attracts money from other markets. For example the money that was waiting to reinvest in stocks that had dumped sees the much bigger profit in bitcoin and buys bitcoin instead. |
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I'm aware, and the following question is not rhetorical: Do any other implementations see significant use by miners?
A good question but only mining pool operators can answer this. |
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I am personally a supporter of alternative implementation of Bitcoin because of this reason: If the second version screwed up, the user experience would reflect badly on both,
If the first version screwed up (eg. value overflow in 2010 and in 2018), the user experience would reflect badly on Bitcoin. With multiple implementations of the protocol, the chain's survival is ensured because for example in 2010 when the chain started growing with invalid blocks the alternative implementation would have rejected those blocks and any miner running that full node or multiple nodes would have built the correct chain ensuring that bitcoin network doesn't halt and could even prevent fraud such as double spends when the invalid blocks were removed from the chain. Now, I'm aware that nothing prevents anyone from attempting an alternative implementation and that someone could conceivably read the source code and proceed from there.
Alternative implementations do exist though. Like BTCD. ~ and the core devs don't properly document what they're doing and work amicably with outsiders then any such attempt is surely doomed to fail?
That's true about a lot of other open source projects too. I rarely see any that is well documented. Most of the code in bitcoin core is straight forward though and if you know c++ you'll have an easy time understanding it all, and if you know other languages you should still be able to figure most of it out. Shouldn't Bitcoin, first and foremost, be a documented standard?
I agree with this but more like the documentation should be improved because it already exists on bitcoin.org, bitcoin wiki and among BIPs but some parts aren't good enough. Shouldn't the reference implementation be one of many?
There should be only one reference implementation but other alternative options for people to run as full node. |
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Whatever its blockchain is, whatever its algorithm is: either Proof of Work, Proof of Stake, DAG, etc. It has an own blokchain.
Correct me if I'm wrong but I don't think DAG is categorized as a blockchain, in fact I've seen them introduce it as the alternative to blockchain since it is more like a "graph" than a "chain". |
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An entire generation of people are being introduced to crypto and don't even see Bitcoin as an option for them, because they're told they'll earn no yield and they're not supposed to use it for anything, just hodl it. I don't blame people for moving to other coins that they can actually do things with.
That's a contradiction because nobody does anything with altcoins except making money either through speculation (pump and dump altcoins) or through scamming (tokens: ICO, IEO, STO, NFT, DeFi,...). |
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The problem is the dumping economy of most countries that is causing a lot of fear among people to dump their major markets such as the US stock market and that causes the bitcoin weak hands to panic sell their bitcoins too. But at the same time since bitcoin is not linked to any other market and the fact that the panic sell has stopped is a good sign. The chances of the rise beginning soon is starting to go higher, although it is still unpredictable.
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The only thing we don't know about bitcoin is its creator which is not important at all. The rest is all known so there is no "mystery" in bitcoin because it is 100% open source so it can all be seen.
The answer to your question is pretty simple, it is because there hasn't been any alternate cryptocurrency created that could perform half the things bitcoin does. Majority of them have serious flaws, like the security bugs in ethereum protocol; a large number of them are centralized and shady and most of them are useless. In other words bitcoin has not had any competition ever since its creation.
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I wonder what would come of Europe in winter specially since the gas reserves are at 26% and decreasing while they should be at least 80% before winter comes. The recent article published by the economist paints a gloomy picture for EU. Here is parts of it: winter is coming, and it promises to be brutal and divisive because of an energy crisis that is rapidly worsening as Vladimir Putin strangles supplies of Russian gas.
Most Europeans cannot yet see or smell the gastastrophe, but in the markets the warning signs are already flashing red. Prices for delivery of gas this winter, at €182/mwh ($184/mwh), are almost as high as in early March, after Russia invaded Ukraine, and seven times their long-run level. Governments are preparing bail-outs of crippled utilities in France and Germany, and some investors are betting on which industrial firms will go bust later this year as rationing takes hold. While most of Europe’s politicians fail to level with the public about the hard choices that lie ahead, even grizzled energy traders used to wars and coups have started to sound worried.
Russia can live without gas exports, which are only 2% of gdp. By turning down the taps on its pipelines, it thinks it can inflict more pain on Europe than it visits on itself.
the big problem is the flow of gas to Europe from Gazprom, Russia’s gas monopoly. It was already running at about half the normal level and has dropped even further. ~ it has not compensated by increasing supply via alternative pipelines
Industrial users such as chemicals and glassmaking firms are in trouble, as well as a broad list of businesses, including many German champions. Across the euro zone a halt to Russian gas flows could lower gdp growth by 3.4 percentage points and raise inflation by 2.7 percentage points, according to ubs, a bank. In Germany the hit would be still worse.
the energy threat is more insidious. Shortages could trigger beggar-thy-neighbour behaviour as states hoard gas, stopping it from flowing on to the next country. Britain has threatened as much. Gaps in the wholesale price of gas in different EU countries suggest that firms fear a breakdown in the single market. Governments’ debts are higher than ever. A stagflationary shock could raise fears of defaults or even of an Italian debt crisis that would threaten the entire euro zone.
https://www.economist.com/leaders/2022/07/14/europes-winter-of-discontentThe author suggests something strange at the end, they suggest increasing the consumer prices to curtail demand and suggests people start decreasing their usage! This is mostly strange because the biggest part of the energy usage comes from industries not regular people. Even if everyone shut down their AC it still wouldn't make a difference. |
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Look how interesting it turns out - you believe the idiotic propaganda from the Kremlin and take their statements as the only truth, but here "you still have to look" Do not measure everything in Russia - they systematically lie only in Russia! What you will soon see! Your insisting on repeating the same idiotic statement is so funny. For your information they said they may increase production to 13 million bpd by 2027 meaning in 5 years not tomorrow or this month or this year. Not to mention that Saudis are already at war with Yemen and each time they break the cease fire and bomb cities, the Yemenis retaliate by targeting the Saudi infrastructure that includes their oil facilities. So yeah, we have to wait and see how much of it they can actually fulfill. I absolutely agree that Iran will not sell everything to the West. I even wrote below - everything will go to the markets of China and India, where Iran will compete by dumping oil supplies. You don't need anything else Again it has been 5 months and prices have been rising not dumping. About the fact that adamant Russia here is destroying the rotten West, I have been hearing this nonsense for the last 3-4 months
You've only been listening for the past 3-4 months since you are knee deep in propaganda, this war has been going on for at least 4 decades. It is also not Russia versus the West, it is East versus the West. In fact Russia is the last participant that used to be playing for the West. You seem to have forgotten that Putin once wanted to join NATO!!! It is also not "destroying" the West, it weakens the West since it is the process of the world moving from a unipolar world to a multipolar world and that change comes with a lot of conflicts, Ukraine invasion is one of them. the EU, namely Germany, France, most likely Italy and Hungary, will still continue to buy oil and gas in Russia. But this volume will constantly decrease. And in 2-3 years, this flow will dry up.
Let's come back to this in a couple of months when the temperature drops. China, and most likely India, has no partners. The largest countries and economies of the region have only raw material appendages - the same Iran, the same Russia Tell me what is more profitable for China and India in economic relations - the EU and the US markets, which have an almost limitless size for sale and pay with strong currency, or impoverished, backward Russia with a resource economy? With whom will they really "be friends", and whom will they "use" for their own benefits? Both, they can't have one without the other. In fact if you look at China's behavior in the past decades you can clearly see that they want relations with everyone because they can't afford to choose only one side. For example they can't sell crap to EU if they don't have the Iranian energy. Not to mention that both EU and US markets are too fragile and unreliable to only depend on them, we can see how their economy is shrinking fast these days. And that's without the sanctions and trade wars that US keeps starting against China. But China is still defined in the Eastern bloc and their policies are also defined in the Eastern bloc. If you look at BRICS and SCO you can see what I mean. |
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The question is when and if this signal will appear, given the pessimistic mood that prevails among the richest countries, and how it is only in the poor ones where people always live on the edge of existence. I know that there are always those who have money to invest regardless of the economic situation, but retail investors have a hard time dealing with inflation and the question is, will they bite into the FOMO bait as it was the case in the past?
We have to wait and see because the world economy is so fragile right now but I believe there is still a good chance that we see the same FOMO repeated because a large part of the money that went out of the market is still waiting on the sidelines to jump back in and more importantly we would no longer have the same panic sellers to create a sell pressure to prevent the rise. |
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the use of it for illegal matters is also one of the reason why many don't want to buy on it.
You mean the FUD about bitcoin being used for illegal things because we all know that bitcoin is money and like any other form of money it is used for a lot of different things. But ratio-wise the ration of usage for illegal activities compared to anything else is so much lower when compared with fiat. In other words if people were worried about a currency being used for illegal activities they should stop using fiat. |
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I could almost guarantee that this was caused by Binance removing exchange fees off BTC/USD trading pairs.
Last time this happened the exchanges that had zero fees were laundering a lot of money that eventually forced the authorities to kick their doors down and shut them down for good. I wonder if Binance is on the same path and if they are close to being shut down. |
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Another thing to consider is local and national law which could imply a fee cap in certain instances and scenarios.
I seriously doubt any regulatory body even cares about how much withdrawal fee the centralized exchanges charge. All they care about is getting their taxes and the users data so that they can monitor everyone who is using a cryptocurrency that comes to that exchange. |
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Yes, it is trivial to recover the private keys at any arbitrary derivation path, however you need to know which path you are recovering from. There are a very large number of potential paths, and it is not trivial to check all of them.
That's true but technically the derivation paths have a common standard among BIPs that wallets use and in each wallet the path itself is hard-coded and chosen based on the address type so you don't need to remember them as long as the same software is used for both creation and recovery. |
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It seems that parity has acted as a support. Although it came down a bit, being a dollar more expensive than a euro for a few moments, the exchange rate has remained stuck in the 1 and a bit zone, being currently 1.01 according to google.
Some predicted that it would continue to fall until it reached $0.90 per €. We will see if they are right and this is a momentary stop or the decline is over, as the ECB has announced that it will raise interest rates, albeit timidly.
Sleepy Joe's visit to West Asia (or as they like to call it Middle East) and his visits with the apartheid regimes seems to have temporarily calmed the energy market and even temporarily brought oil price below $100. That helps euro strengthen a little bit. We have to see what the future holds for energy prices though. There are a couple of conflicts waiting to break out in oil rich regions such as Saudi Arabia that could shoot the price up again and euro could tank more if that happens. Other than that all the global drama is currently slowing down, in my opinion. |
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its one of the flaws of segwit.
didnt say protocol flaw SegWit is part of the protocol whether you like it or not. and there is no single standard for bech32 'signmessage'
There is a standard if you ever bothered looking for it. It is called BIP-137. There is even another less popular one called BIP-322. all because, yep. core devs didnt care to standardise something once the reached their sponsored goal of simply activating segwit, so other wallets went in all their different directions. and yea some other wallet devs did offer solutions to core that got ignored as core were not interested
Your personal feelings against core devs leads you to post a lot of nonsense, Bitcoin is not centralized for us to wait for core devs to implement even an optional feature (like BIP39 or seed phrases). As I said the standard already exists and even if it didn't, everyone is welcome to propose any standard and implement it either on top of core or any other implementation of the protocol. That's not to mention that bitcoin core as the reference implementation of the protocol is not supposed to have every single optional feature. What you point out about other wallet developers is inaccurate. I personally categorize them into two groups: competent and incompetent. - Competent developers like the Electrum devs, don't copy code or wait for someone else to implement things for them to copy. They implement it if the standard exists which is why you can sign a message from SegWit addresses in Electrum. - The incompetent devs are the ones you are talking about, if you look at their code it is horrible and is mostly copied or translated which is why they don't have options such as message signing if it is not found in bitcoin core. These are the same devs who reuse k values and leak users' private keys. In other words such wallets should not even be used let alone for you to talk about whether they've implemented message signing! |
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