You should search it on youtube.
Alot of videos give clear info
Errr, No? |
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Someone I know wants to meet with me to talk about BTC and crypto.
want to get into it.
What would you recommend be the step 1? for them to approach?
1. Read and understand the Bitcoin White Paper: https://bitcoin.org/bitcoin.pdf2. Anything else |
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For what I can read here, the only members happy about the new rules are Legendaries.
For what I can read here, the only members unhappy about the new rules are account-farming spammers. See how that works? |
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Exchanges deal with a large number of bitcoin transactions daily, which of these transactions are stored in the block? What is the deal inside the exchange?
Daily trades don't find their way into the bockchain. Only deposits/withdrawal. When you deposit your coins, they will be turned into numbers in a database, while the real coins either go into a hot or a cold wallet. Trades only take place in this database of the exchange. |
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There's still more than 100 MB of less than 10 satoshi per byte transactions queued in large mempools: https://jochen-hoenicke.de/queue (check the bottom graph)
you like but the fees are high
See https://bitinfocharts.com/comparison/bitcoin-transactionfees.htmlSays the fees are $12.56 for just storing 256 bytes of data and it's not my fault that 20,000 fulls nodes repeat the same work because I did not ask for them all to be here and 1000 would do the trick Sorry, but this makes me laugh. You obv. can't accept the fact that Bitcoin fees are actually pretty low these days. |
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If you are planning to buy 1 BTC waiting for a deeper fall in the price of the coin would be advisable since your are on the expense side. Thru this you will be able to earn higher profit once the coin have rises its value. However, I can’t tell how low you must wait before investing since it will alreade be based on your monitoring.
The world is full of people, who are waiting for a dip. I have a friend who is already waiting years for a dump to 800$. Price was about 1000$ back then... |
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Looks like @theymos has kicked the hornet's (spammers) nest...  |
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Hi AGD, I would really appreciate if you could give me piece of advice on this. What is the best way to send cryptocurrency from one exchange to another. I can see that if I send BTC, is has higher fees. That's something already fixed that you're asking about. Exchanges charge a "fixed" fee for a transaction that they execute on their end and you are bound to pay those fees if you are withdrawing your coins from an exchange to exchange or even a wallet. You can only decide fee while you are sending "your" coins that you have in your wallet, and not an exchange. The "fixed" fee charged by them is what they take per transaction, not the fee they actually send while sending you your "withdrawn" amount. One more thing, each exchange has different "fixed" fee levels, like Polo charges 0.0005 BTC per withdrawal, Bittrex takes 0.001 BTC and so on. Thanks. That helps. Recently I transferred some BTC from coinbase to binance and they charged me around 18 USD for that transaction. If I'm going to transfer some money from binance to other exchange, what is the best format of cryptocurrency I should send in order to minimize the fees. Most of the Altcoins have a lower fee, but you will lose some % when you want to exchange back in BTC. |
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This makes sense, but to avoid wasting sMerits - which should be used to support helpful community members to raise in rank - it would still be good to either reject the reward to legendaries, or maybe don't subtract the given sMerits in that case.
I disagree. Not all legendaries are equal, and Merit points may finally be what makes some stand out from others. Good point. You are helpful as always. sMerit from me. |
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@Theymos sMerits should be rejected if given to a legendary.
That would mean high quality posts from legendaries wouldnt be marked as such, which destroys one of the purposes of publicly showing merited posts, giving good examples. Also, when you send merit to a legendary, they gain 50% as sMerit, thus giving them an additional balance to be distributed.
Simple example: I have 50 sMerit, I can't read the forum right now and distribute them, but you are writing really good posts, I reward them to you for one of your outstanding posts, now you get 25 sMerit, you do read the forum, select high quality posts from lower members, and contribute to the distribution that way. The difference here being either 50 in my account and dormant/lost or 25 being actively distributed and rewarded. The latter should be the option to pick, imo. This makes sense, but to avoid wasting sMerits - which should be used to support helpful community members to raise in rank - it would still be good to either reject the reward to legendaries, or maybe don't subtract the given sMerits in that case. |
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@Theymos
sMerits should be rejected if given to a legendary.
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Thank you @Theymos for this interesting experiment.
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This is the first time this year I see an interesting thread/post, thanks for that.
1MB can be considered for preventing spam. Maybe he didn't think if bitcoin could become so popular and also there aren't some things considered like what will happen after
Mining using CPU-Wars was and is a total joke and others have proved it and transactions on other coins like ETH don't cost a tenth of what we are forced to pay today and competition is good but not good by the time you have 20,000 and if you plot the fees against the mempool then before now when it was at 130,000 we have paid fees of $40 and now we are down to about $15 Clearly something does not add up and something is very wrong if more than 1,000 miners are needed for Bitcoin when it's not even hosting "Smart Contracts" for other coins and they also say "Lightning Network" bring smart contracts to Bitcoin so where do I publish my scripts to then if this is indeed the case 45 sat/b https://blockchain.info/tx/8c189782b4eeb4074674b1c009b12edfde8ef4264733485c7627cfc8b75106f4Explain this 1$ transaction. |
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How did you come up with that number? Are you dumb enough to pay $30 while everybody else paying $5? (current fee for a max. 1 hour tx is 100sat/b)
If yes (it seems like a yes), then you are not clever enough for this shit. Stay with credit cards.
I like a man with attitude so wait a few seconds and I will check the charts and be right back to you Nope it's $15 according to this https://bitinfocharts.com/comparison/bitcoin-transactionfees.htmland was about $30 a week ago when I last looked but I will reduce it to $25 to take in to account the $55 it was at. Ripple fees are so low that they don't show up on most charts so if $5.00 makes you feel smart then jobs a good one. 45 sat/b https://blockchain.info/tx/8c189782b4eeb4074674b1c009b12edfde8ef4264733485c7627cfc8b75106f4Explain this 1$ transaction. |
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Good Day Everyone!
I think this is the most appropriate section where I can post my question regarding the development of Bitcoin.
I just read the Bitcoin whitepaper and most of it content are difficult for me to understand, lots of them are Mathematical Equation and programs. Upon reading there is only one question. that pops in my mind.
What processes or steps in order for the creator to increase its Supply Limit? [I am also pertaining to Alternative Coins not just Bitcoins]. Someone says that it is complicated.
Can you cite some relevant previous post or links?
To answer your exact question (bolded) I think if Satoshi Nakamoto suddenly showed up and asked everybody to increase the Supply Limit, it might happen. Not that it's a good idea or a bad idea. No Bitcoin holder would ever agree to this. |
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Since people need to prove, they are alive, this system will only be possible with a trusted third party to confirm without a doubt, that this DNA belongs to this very person, which always conflicts with point "3) decentralized , without a certifier authority"
There is no way out of this.
The rest is easy to achieve.
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