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4701  Other / Beginners & Help / Re: Crypto trading has caused more depression in 2021/2022 on: May 13, 2022, 05:12:30 AM
Unfortunately this has always been the fate of those who enter a high risk investment without any knowledge, effort or even listening to other experts. For example those who borrow money to invest in an extremely volatile altcoin, sell their house to buy a shittoken, ... are expected to endure huge losses.

It is very sad to see their fate but what more can we do? We keep warning them about their high risk actions, about buying altcoin, about investing what they cannot afford to lose and yet they don't listen.

so please bitcoin price drop has nothing to do with those who took their lives(Suicide).
When people say "crypto" they almost always mean altcoins not bitcoin. In this case the story as others pointed out seems to be related to a shitcoin called Luna.
4702  Bitcoin / Bitcoin Discussion / Re: Bitcoin and Ethereum at risk of serious losses on: May 13, 2022, 04:44:53 AM
If you want big pumps then why bag hold a shitcoin for years to get a large profit? There are shitcoins that get pumped massively in a much shorter time. For example in the past 24 hours a shitcoin called SAFU got pumped 3100%
SAFU is not my kind of coin although my objective is to make money and not join any coin maximalists. Some won't confess the mistake/regret of not buying Doge before the pump, whereas those who did made a fortune. I don't trust any maximalist because 90% of them just play to gallery, decieving people while buying the so called shit coins.
That was a completely random shitcoin I used as an example, that died the next day and was replaced by another shitcoin to be pumped. For example today that shitcoin is called SSOL with a 2200% pump which is dying and is being replaced by another shitcoin.

The point is that if someone is looking to make profit in altcoin market they don't need to bag hold the most advertised shitcoin hoping for the possibility of some day making a small profit. They can make massive profit on a daily basis with pretty much the same risks.

There really isn't any fundamental difference between shitcoins like DOGE and ETH and the rest apart from the fact that these two are overhyped and overpumped since they had better luck and a much better advertising/pumping team than the rest.
4703  Bitcoin / Bitcoin Technical Support / Re: [May 2022] Mempool empty! Use this opportunity to Consolidate your small inputs! on: May 13, 2022, 04:34:47 AM
If large swings in bitcoin are causing people to move coin to their exchange (and causing the mempool to get more congested), so they can sell, it would mean that people are holding their coin in their own wallets, only to entrust the exchange when they are ready to sell.
Every sell has an equal size buy. One of the reasons why the mempool size starts growing is because whenever there is a big move a lot of people go to exchanges with fiat to buy bitcoin and then withdraw it to their own wallets Tongue
4704  Bitcoin / Development & Technical Discussion / Re: Price Stabilization Algorithm/Protocol/Transactions on: May 13, 2022, 04:27:07 AM
some kind of special pool of traders.
You are forgetting that "traders" want volatility not stability! That is the way they make profit. Not to mention that what you are describing could easily turn into a pump and dump group when this so called "pool" with access to large amount of funds could manipulate the market to maximize the profit of the participants.
4705  Economy / Speculation / Re: Buy the DIP, and HODL! on: May 12, 2022, 08:13:51 AM
Zoom out, there's a bull/bear cycle pattern that Bitcoin always follows.
There is always a bull/bear cycle alright but if you analyze the previous cycles you realize that this is a brand new trend that has never happened.
For example it is unprecedented to see this much drop after such a tiny rise to a very low ATH.
The lowest price (currently $25k) is also unprecedented since the last cycle's ATH has never been reached in the bear part of the next cycles. Meaning when the $20k bubble popped price went as low as $3200 and previous ATH was $1100 (3x higher) or when the $1100 bubble popped it went down to $150 and previous ATH was about $20 (7x higher).

The problem I have is not even the drop itself but the reason why people are panic selling. They aren't panic selling because of bear market or bubble pop or anything like that. As I said above, people are panic selling simply because S&P 500 is crashing which makes no sense at all!
4706  Bitcoin / Bitcoin Discussion / Re: Do you know why Bitcoin price is dropping down ? Don't Ask Satoshi ? Just buy ! on: May 12, 2022, 08:02:04 AM
I am Satoshi Nakamoto
Don't ask me, if I am selling my 1.1 million Bitcoin.
What you are is an identity thief pretending to be who you clearly are not. The second statement alone ensures it since Satoshi Nakamoto does not own 1.1 million bitcoin. The only question I have is why you aren't banned.
4707  Economy / Speculation / Re: Buy the DIP, and HODL! on: May 12, 2022, 04:46:02 AM
The difference that I was pointing out is, there was a narrative change during the bull phase which started during 2020 after the pandemic crash. Because during this current bull phase, the institutions came in, Elon Musk came in, Chad Saylor came in. The anti-Bitcoin trolls can't make an argument that Bitcoin "is dying" when the next crash arrives. They simply can't anymore.

Plus there are also other narratives, like the tens of thousands who came in here to "be rich". Some of them will eventually understand, and truly learn about Bitcoin. They will learn the importance of running a node, even if they will not run a node. Because if indeed they find themselves to be in an adversarial environment that forces them to run a node, they can do it.
Unfortunately the only existing and dominating narrative right now is the one that has convinced everyone that bitcoin follows US stock market which means as it is dumping hard, people panic sell bitcoin too. Sadly it has been an impossible task to make them realize that bitcoin was the exit not the repetition of the same corrupted markets.

The only question remaining is how much more are people going to follow this fake narrative and act irrationally since I don't think the US stock market crash is going to stop but I also don't think bitcoin can continue falling like this. At some point it has to stop and reverse while the stock market continues crashing.

In any case it is interesting to see this very new market behavior this year.
4708  Other / Beginners & Help / Re: What to expect in a bear market on: May 12, 2022, 04:18:56 AM
In a bear market 3 things are always guaranteed:
1. A large amount of FUD about bitcoin
2. A massive dump (bigger than the bitcoin drop) in all the altcoins without exceptions
3. A market cleanup where a decent number of shitcoins die and are removed from the market

As a bonus something else is also guaranteed which is the "smart money" buying bitcoin in the dip silently.
4709  Bitcoin / Wallet software / Re: Recovery seed generate online through popular wallets on: May 12, 2022, 03:53:23 AM
As long as you have access to a PC and can run a clean OS (like a live Linux from a DVD or USB disk) without any access to the outside world (no internet, no other connection such as blutooth, lan,... or in one word: airgap) there is no justification for using your phone to create a cold storage.
Same goes with close source and shady wallets such as Trust wallet and Atomic wallet. We already have open source wallets that can be used and are trusted, there is no reason to use anything else.
4710  Bitcoin / Development & Technical Discussion / Re: Blockchain in the Cloud on: May 12, 2022, 03:40:40 AM
So in affect.. you need to get more "invalid" nodes out there to replace the amount of valid nodes that are running out there, so that your version of the Blockchain can be seen as the "valid" Blockchain. That will certainly be a very expensive project and it must be almost instantaneous. ...right?
Wrong. Validity of blocks is not decided based on how many nodes are running. Lets look at things in reverse. From bcash perspective bitcoin blocks are invalid, meanwhile there are far more bitcoin nodes than there are bcash nodes and yet they continue considering bitcoin blocks invalid.

A valid block is a block that YOUR node decides based on the consensus rules it is enforcing.
 
Quote
Is that not one of the methods that BCash and previous "Fork" attackers tried with the voting system, during the fork wars? (Running a bunch of nodes on Virtual Cloud servers)
The minimum requirement for creating a fork is a single node run on a single PC (a single CPU) and changing the algorithm to what you like. You can do it right now too on your PC. Copy bitcoin core's code, change the PoW to allow you to mine blocks at a lowest difficulty on your CPU, change anything else you like and start your fork.
As you can see, you don't need voting at all when creating a fork that will be considered an altcoin.

The reason why bcashers ran a lot of nodes on cloud servers was to create the illusion that their shitcoin has good support. Of course that wasn't all they did, they also manipulated the difficulty to create the incentive for miners to mine on that chain and get more reward in total (1000+ bcash blocks per day compared to ~144 bitcoin blocks per day).
4711  Bitcoin / Development & Technical Discussion / Re: Why rely on a single hash function? on: May 12, 2022, 03:29:17 AM
First of all it depends on what "broken" means. For example we call SHA1 broken and you can't reverse it or find a collision if you can't control the message, also it is still used in git for integrity of commits without any problem.

Secondly, I'd say if something is "broken" it has to be replaced instead of creating a band-aid where it still is used alongside something else. Adding the secondary hash requires a hard fork so why not just replace it?
4712  Economy / Economics / Re: Russian Gas ban - A problem for Europe or suicide for Russia? on: May 11, 2022, 03:46:19 PM
In a word - for the EU economy, 4% will not be critical losses!
Cool numbers, I just don't know why the news, the individual experiences, the all time high inflation rate and certain basic goods that are nowhere to be found are portraying something very different.
For example I see some industries around EU like most recent news about automotive parts manufacturers are reporting huge drops in their revenue this year and some industries are starting to shut down. UK alone is facing a "cost of living crisis" and the official reports guess a 1.5 million to start living at absolute poverty soon.
4713  Economy / Economics / Re: Russian Gas ban - A problem for Europe or suicide for Russia? on: May 11, 2022, 08:03:19 AM
I think that the West was surprised by the calm reaction of the Russian banking system to the SWIFT disconnection
Well the plans were in motion for at least 8 years, need I remind you of Crimea annexation?

It turned out that the banking system of Russia is perhaps the most progressive in the world, without problems with legacy, mainframes, punched cards and cobols - flexible, manageable and easily customizable.
I'm not sure what you mean here, Russian banking system is just as bad as anybody else's. But the reasons why sanctions had a reverse effect was firstly because they were mostly jokes and also because Russia simply joined the multi trillion dollar economical infrastructure built and perfected over the past 43 years by the most sanctioned country in history Iran that is currently sitting among the 10 largest economies in the world (or 20 largest according to World's Bank).
They didn't really do much, they just hopped from one train to another while Europe keeps pumping Ruble's value and any imports that were stopped got replaced by competitors at cheaper prices with higher qualities!

But the gas pipeline has a valve that can be easily closed.
It can be closed but it can't be opened more than it already is.

Europe froze Russia's money, which she paid for gas supplies, that is, Europe actually received gas from Russia for free.
Last I heard it was a total of $5 billion Russian assets that were seized in which case Russia responded by seizing $500 billion Western investment in their country so by your logic EU is paying 100x for the gas.
4714  Economy / Economics / Re: Russian Gas ban - A problem for Europe or suicide for Russia? on: May 11, 2022, 06:51:31 AM
1. Is the Russian economy self-sufficient or import-dependent?
2. Import-dependent economy, forced to buy something from exporters, what currency should be calculated?
3. And if everyone pays her for the main product exported by Russia, in rubles - where will Russia take the currency to pay for imports? Smiley
1. Apart from one or two countries every one else has an import-dependent economy. The ongoing conflict and its effects on all economies (excluding a handful) proves that.
2&3. Depends on the trading parties. The world has also been moving away from US dollar and SWIFT. For example Russian trades with India and China have been mostly conducted using other currencies including Ruble, and they went fully Ruble after the war started. Or for example Arabs started selling their oil to China using CNY and dumped USD.

Besides, anybody who refused to export to Russia or export using Ruble was immediately replaced by a competitor. For example I heard that imports of detergents and cleaners from Germany, Italy and Sweden were stopped and we immediately too over that market. We don't use SWIFT either. Wink

Remember the main axiom - in fact, any step by Russia is "shooting yourself in the foot"! Why ? This question is for them Smiley
Now let me ask you another question. Is Europe economy export-dependent and how are they going to cover the billions of dollars deficits? For example the couple of markets that we took over in the past 2 weeks alone was estimated to increase our exports by $4 billion. That is $4 billion in 2 weeks that Europe will never see again. I don't know how much that is annually.
Don't you think Europe shot itself in the foot or maybe better said US shot Europe in the foot?

OK, Germany cannot agree with Qatar on the supply of liquefied natural gas. Qatar does not want to increase production
Gas production does not have a switch that you can flip and magically increase the production. There are a lot of limits and it would take them years to start new facilities and start extracting more gas. Not to mention that their supplies are still not enough to cover a small portion of what Germany needs.

or risk of their assets frozen in US banks or no business with US's entities.
I don't know if you follow the news but the Arabs have been panic selling any asset they had and could be seized ever since Russian invasion started and their assets were seized (China is doing the same too while eyeing Taiwan).
So far they've also refused to comply with US demands and their production has actually decreased ever since their facilities were bombed before the cease fire by Yemenis.
4715  Bitcoin / Development & Technical Discussion / Re: Does a multi-sig wallet protect from random private key attacks? on: May 11, 2022, 06:17:30 AM
In fact, I have already found a few private keys (unfortunately they were already emptied before by someone else).
If I choose a number between 2 and 4 and not choose 2 and 4 themselves and you guess my number that doesn't mean you can read my mind.

That is the simple way of saying what you have found is not a "normal" private key. You have found the solution to some sort of puzzle where you searched in an extremely reduced search space.

Quote
~ run such brute force attacks for random keys ~
Why do you think those keys were "random"?

Quote
I'm sure that North Korea and other big malicious actors would be running far bigger operations to brute force random keys.
Not just NK but if all the 194 countries joined forces and tried brute forcing bitcoin private keys and continued doing it for decades, they still wouldn't be able to find any.
4716  Bitcoin / Bitcoin Discussion / Re: Bitcoin and Ethereum at risk of serious losses on: May 11, 2022, 05:00:43 AM
The last bull market push 60x for ethereum ($80 to $4800) while bitcoin made just a little above 20x (3200-69,000).
If you want big pumps then why bag hold a shitcoin for years to get a large profit? There are shitcoins that get pumped massively in a much shorter time. For example in the past 24 hours a shitcoin called SAFU got pumped 3100%

Quote
Vitalik made some bad and late decisions in market but he is targeting gas fee of $0.05 after hardfork which should make many come back to the smart contract and its trade
Vitalik was promising ETH fees to never go above 5 cents from the day he created his shitcoin. He never answered why fees went to $50 though. The hardfork is just a way to give him money because he owns a big portion of the 72 million premine and PoS rewards those who hold more of the shitcoin.
4717  Bitcoin / Bitcoin Discussion / Re: The Bitcoin Paradox - a Simple Online Scam Honored as Deity on: May 11, 2022, 04:35:11 AM
You're the victim. Try to accept explanations of people that are trying to help you.
Oh you are too kind for hepling us out of the kindness of your heart, after reading your full of knowdgle post I feel so much wiser and want to dump all my bitcoins and run away. If you give me your bitcoin address I will send it all to you and free myself of this illusion.
4718  Bitcoin / Bitcoin Discussion / Re: Trading Bitcoin and crypto "could destroy your life", go to rehab hehehe on: May 11, 2022, 03:30:00 AM
There is always some traces of truth in most nonsense out there too. For example if we look fairly at the crypto world we can clearly see that some people are pretty much gambling specially those who are into altcoins and tokens. They are constantly making bets on shitcoins, they buy into NFTs that have no purpose whatsoever, ... just because they hope their "ticket" wins the big "jackpot". Considering the amount of money these people lose in their shitcoin trades, I think we can consider it a disease!
4719  Other / Beginners & Help / Re: Medical Doctor looking to advise/consult/assist on: May 11, 2022, 03:19:52 AM
Not entirely.  I won't get into the details but you can have use cases for both decentralized and centralized blockchains for both individuals and corporations like health insurances.
Why not? I would love to hear what you think the details are because after years of seeing others trying to mix both and nothing coming out of it, I can not think of any reasons why they should be mixed.

The biggest problem is that there is no logical answer to these questions:
If the health care system, the hospitals, the insurance companies, etc are all centralized why should the patient data be decentralized? If it doesn't need to be decentralized then why use blockchain? You see how it falls apart when you ask the right questions?
4720  Bitcoin / Electrum / Re: Electrum gpg signature verification on android on: May 11, 2022, 02:56:36 AM
According to some people and guides on Electrum you don't have to worry about the GPG signature for Android mobile
Because all Electrum downloads for Android are already verified by the Google play store.

So make sure you download Electrum directly from Google PlayStore.
Trusting a centralized company when it comes to your bitcoins has never been a good idea. Specially a company known for constantly gathering privacy violating users data. You would have no way of knowing whether they have injected anything into the software.
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