Where is this 400PH coming from???

Well, the trend continues today:

I was looking at Help -> Payouts on the kano.is site to remember what the dust threshold was but see no mentions of it anywhere. Does it not exist anymore? Did he automate dust payments?

Have you ever wanted to see, Buy price lower than Sell price? Well today you can:

https://localbitcoins.com/country/VE


This is not the first time i have seen this. It doesn't usually last long, but this is the kind of distortion hyperinflation does to a country.

Insta buy low sell high?

Granted, messing with this country is not recommended. The amount of weird restrictions you will face can easily make you lose your investment, but still, don't think because the majority of tx on localbitcoins belong to this country means the Venezuelans are doing them...

What could possibly go wrong?

Anything above 0 is probably good I think. 0.1 would be processed last, but at least not dropped like the zero tx often are...
For the future it is good that wallets allow even lower tx fees, as long as its not zero

It is an scalability problem. Your brain isn't going to reliable handle 1000 random passwords. Same with 2fa backups. Tho be my guest if you trust more writing them down manually in a notebook, and hope that notebook does not fall in the wrong hands or gets lost.

Password managers encrypt their data file (or at least they should), provided you use a decent password, it should be no problem to store it even in google cloud. If you read the rest of my post, you should pay attention to the "secure computer" part, you can have that one air gapped, without any LAN or WIFI if you want.

You don't seem to trust password managers, perhaps because your password was keylogged when you opened it in your insecure windows computer. But that's not the password manager fault, you had a malware already intercepting everything. You should prevent this in the first place.

Perhaps if you think there will only be 21 million Bitcoin by 2140 (17.5 million right now) But, instead i think there will be 2,100,000,000,000,000 Satoshis. And if the price goes up a lot in the future, there is a big chance they will enable 16 decimals...

So there might not be enough bitcoins for everyone, but there sure are enough satoshis for everyone!

We are used by fiat to think merely of two decimals, but don't neglect those 8 numbers to the right of the dot
Right now 26k satoshis are 1 dollar. Compare to the world's worst coin, the Venezuelan bolivar, where 25 satoshis are 1 bolivar.

This fiat just "lost" (by presidential decree) 5 zeroes in September, so 1 VES would have been 100,000 VEF, which in turn in 2008 would have been 100,000,000 VEB; and after a million percent per year inflation, the gov printing (digitally because paper is too expensive) like there is no tomorrow; things are going to get much worse faster every day.

1000 satoshis can buy bread, literally. And there is 1,746,142,500,000,000 satoshis out there... If bitcoin prices doubles, then just 500 sats will buy the same bread... Don't neglect your satoshis.

Well IMO exchanges are pretty safe (Ie. Poloniex and Bitfinex) as far as you trust the exchange... For gambling sites it depends on the site, you'd have to review (or check reviews about) each. As for earnings, think about 4%/year. Variance in gambling sites can make you wait at least a month or more before seeing profits (just like the luck in mining), and you will see constant loses / winnings as the players win and lose. In the long run you will earn, otherwise the site would shutdown (the house cannot always lose!). Again its not much but quite safe, if in doubt just diversify and don't put all your eggs in the same basket, and DO wait a few months once you commit (yes its slow and boring, compared to trading) to see (good) results.

What about the solution suggested here: Solution for ANTMINER S9 FANS SPEED Up & Down every 20 Seconds. (Enable the hidden menu and force fan speeds)?

To bankrupt America, all you have to do is convince everyone to withdraw all their money from the banks at the same time.
Ie. what people just did with the proof of keys event, if people did that to banks... Boom!, the ponzi known as fractional reserve banking would collapse.

Of course that's not going to make your personal situation any better, in fact you would be much worse... And i can imagine the effect on the world economy considering that too many countries follow the mistaken Chicago school of economy (fast growth by debt) and its endless bubble/crash cycles.

Did you try using the other fan plugs, or switching fan plug positions (fan6 to fan5 and fan5 to fan6)? Does your control board include more than 2 fan connectors?

I have not encountered that problem. Seems to me you have an issue with the way you connect to the miners. Is SSH working ok? Can you connect remotely using SSH instead of the web interface?

• I read about it since the beginning, probably on /. but didn't pay the attention it deserved...
• Most of my satoshis come from mining, I have to sell for fiat to buy food and pay bills...
• Not really much, once i felt i had like 2k, USD but now and I'm down to about 500. Sad isn't?
• A lot about this world Satoshi Nakamoto opened for humanity.
• Electrum and Poloniex, occasionally Binance and Bitrex.
• I used to have some Dogecoin back when giving them away for free was in fashion.. Sold them for BTC

Happy New Year to you as well!

Banks are not supposed to "produce" money, but the sad truth is that they do, out of thin air! The way modern banks work is pretty similar to a ponzi scheme, its called Fractional Reserve Banking something that would be illegal (and it was until the 20th century) but the banks bought their way thru legislation and its perfectly ok to play roulette with the savings of people...

But people are seriously misled into thinking banks store money (they don't), or that their fiat money is backed into something (its not).

The scheme will hold as long as a sum above the fractional reserve is now withdraw at the same time (see?, just like any other scheme).

So if the bank keeps 10% of the money, that's its limit before going bankrupt. But before that happens, Central Banks to the rescue. Now that 10% would need to be nationwide withdraw, to bankrupt the central bank, but World Bank to the rescue! now in the world 10% needs to be withdraw to bankrupt the entire system... (actually the fraction is different on every country).

If only more people knew about fractional reserve banking... Debt based economies (school of chicago) would crash. Stop trusting banks!

Its not so pretty on reddit either, which makes me wonder who the real author is... But you could copy & paste this giant wall of text into your word processor for some decent formatting.

I also think its a good read. How many people is unaware of fractional reserve banking?, if they knew they would run to Bitcoin...

I just learned about this event today. It is interesting to keep exchanges and other online wallets in check, but shouldn't this be done a bit more often? I mean, if they are really using your money on your back (like modern banks do), and they know every Jan 3rd this event comes around, wouldn't that give them enough time to return back everything, wait for the event to pass and go back and earn interest with your money financing, lending, gambling and what not?

This is the main problem of not using your own wallet, you never know what that 3rd party is going to do with your money...

Oh wow that's better... I wonder if that new fan placement is better than the usual tunnel? And what are RPMs for the two fans?

Central Banks are a byproduct of fractional reserve banking. You need to know about the history of banking to understand the reason for this.

Modern banks don't keep your money, they use it for lending among other things. But for this reason a bank can go bankrupt if a small percent of the clients decide to withdraw all their money. To mitigate this problem, there is a bank for banks, and that's the central bank. In many countries this central bank is also in charge of monetary policy, but are often subordinate to the government.

If we were to abandon fractional reserve banking, then central banks would also not be needed. For that banks, as you know them today, would need to change and they probably will but slowly, too slowly... They are happy where they are, leeching money providing a service that's not really needed anymore.

Bitcoin is a step in that direction, thankfully technology has shown it is possible to do away with banks. And how wonderful it is!

I'll give you a third option, it is less profitable but much safer: Lending. You can do that in both exchanges and gambling sites. Exchanges use the lending money for margin traders, and gambling in their bankrolls for the winners.

Of course the wisest choice is to diversify: divide your capital and try the different choices in parallel. Trading is hard and betting is luck. Have fun!

Bitcoin is maturing, and pieces are slowly falling into place. It is volatile because its free and decentralized, so the market acts on it, but the price has a historical trend and slowly or quickly returns back to it. Every day mining becomes less attractive, but at the same time more (minted) coins are in hands of people. This makes manipulation more and more expensive. Mining will become completely unprofitable someday, and then only enthusiasts and people doing business with Bitcoin will keep the network alive. As this moment comes the volatility will naturally slow down. I think Canaan creative got the right idea but started too soon: Home appliances with some hashrate would keep the network alive at that point because it benefits everyone (holders and users).

At that point people more and more will be using it as a currency rather than an asset. The world will have a solid coin to back itself on, and the time for the chicago school of economy will have to cede their way to the austrian ideas of (slow) growth by true savings rather than (quick) growth by debt that ends blowing up later in eternal bubble/crash cycles.