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5581  Economy / Speculation / Re: Cryptocurrency status at the beginning of the year on: January 19, 2022, 07:26:50 AM
There is no reason to be discouraged because it is miserable every year at the beginning of the year.
You are wrong because different years have been different.
Additionally what you call "miserable" is your point of view otherwise as far as altcoins go, the dumps are their natural expected behavior that happens all days every year. And as far as bitcoin goes this is just a dip to accumulate cheap coins under the intrinsic value.

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Cryptocurrency is going to pass two weeks so far this year but still no positive is found. I think it could be even longer. In other words, it will take some time for the market to get better.
Majority of cryptocurrencies are not going to recover, just like majority of them including the top 20 alt coins never recovered from their dumps in 2018 even though 4 years has passed.
5582  Bitcoin / Bitcoin Discussion / Re: Blockchain Tech has been Severely Oversold on: January 19, 2022, 06:53:40 AM
saying they dont is like saying that cloud storage is not needed because single host FTP worked fine for years.
but here is the thing. even the single hosted FTP owners disliked when their servers crashed and all customer data was inaccessible, so even they like distributed data.
Keeping a backup of user data is the solution to this problem. Using blockchain is the same exact thing as keeping a backup but only with extra complications that increase the cost for absolutely no reason or benefit!

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security businesses with a single database employee log-in database, want not only distributed backups, but also a way to check the database isnt edited at any of the remote sites. and ensure that no employee can edit the database without being noticed.
Same as above. Not to mention that "distributed backup" has nothing to do with blockchain.

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even international airport security want access to world wide data but also ensure everyone has the same copy where one location cant just edit their copy and be unnoticed.
It won't work because the world wide data should be modified by individual entities then shared amongst themselves. For example a country should be able to modify their own data and then share it instead of having to always coordinate with others and change it globally.
Again even a global database, even a distributed one has nothing to do with blockchain.

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there are many real cases where blockchains offer a simple extra layer of security to standard database models.
No they don't. If extra layer of security is needed, it can be and is added on top of existing database solutions without needing the complications of blockchain.

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blockchains dont even need to be from genesis to eternity. there are ways that the block hash is based on just 50 blocks in length where the oldest block drops when the newest(50th) block is added. meaning a perpetual chain of only 50 blocks chained together.
That's not a blockchain anymore, that is the traditional definition of a database that can be updated.

c. the first actual relief into tonga was paid in $$
tonga wont have internet for 2 weeks, meaning no btc in tonga
No internet means no $$ either unless they put all the $$ in big bags and transferred it to Tonga LOL
5583  Economy / Service Discussion / Re: Question on: January 19, 2022, 06:38:51 AM
Thank You everyone for the reply. One last question: What do you think about staking Cake coin in the syrup pool on Pancakeswap. Can it be considered low risk?

Not really. The risks are:

1. Pancakeswap being exploited
2. Impermanent loss from the LP
3. Binance Smart Chain going bust

Again, I'm not saying that you should or should not do it. It will just completely depend if you're willing to take the risk. Everything concerning cryptocurrencies has a good amount of risk in the first place; the safest being just holding bitcoin using a hardware wallet.
Not just Binance chain but Binance itself. The Pancakeswap like its creator Binance is centralized and that creates a single point of failure. When the government shuts down Binance for a lot of different reasons, all their products including the exchange, token swap platforms, centralized tokens (BNB), etc. all will go bust.
5584  Bitcoin / Bitcoin Discussion / Re: El Salvador Bitcoin wallet onboard four million users on: January 19, 2022, 06:05:05 AM
The number is more interesting when compared to the El Salvador's population which was 6.4 million according to Google and that puts 4 million users to 62.5% of the population.
But I'm afraid this is not something that we can celebrate since this is a closed source custodial wallet that the government controls and more importantly the majority of this wallet's users went there to only receive the free $30 not so much to use bitcoin.
5585  Other / Beginners & Help / Re: How safe is a multi signature wallet on: January 19, 2022, 05:46:18 AM
The point of using 2 of 3 multi signature scheme is so that if you lost one of the keys that you regularly use (like if your PC blew up or you lost your phone) you can still use the other regularly used key with your third key that you never use to recover your funds. The chances of losing both keys is small and remember we are only reducing the chance of losses not eliminating them.

I also like to suggest using QR codes to transfer transactions. For example you can create the transaction and sign it once with your first key on PC then create a QR code of the half-signed transaction and scan it with your phone instead of transferring it by connecting your phone to your PC or other digital ways. Then sign it with your phone.
5586  Bitcoin / Bitcoin Discussion / Re: Myth vs Facts and My Assumptions about Bitcoin on: January 19, 2022, 05:39:08 AM
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Lightweight (SPV) wallets will blindly trust the miners
Not completely blindly though. A SPV client will still verify everything there is to a bitcoin block header and also can fetch merkle trees and verify existence of a transaction in a block. They can also connect to multiple full nodes and monitor the situation with the bitcoin network (forks, stale blocks, reorgs,...) and know whether the block it has are still part of the chain or not.

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meaning if 51% of miners printed infinite coins or spent the same coin twice then lightweight wallet users would happily accept these fake bitcoins as payment.
This is not a light-wallet specific problem. A 51% attack affects full nodes and SPV clients the same. And invalid transactions ("infinite coins") are not part of the valid chain anyways and both full nodes (by full verification) and SPV clients (by querying multiple nodes and following the longest header chain) will recognize it.

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Early adopters are unfairly rewarded
I'd like to point out that I've been hearing this statement from different users ever since 2014 that I got involved with bitcoin and they will repeat it in the future too. Funny thing is that if they bought bitcoin in 2014-2015 instead of nagging they would have bought it at about $400 and now the price is about $40,000 which is 100 times higher.
Funnier thing is that those who are nagging today and not buying bitcoin will complain in the near future when price is $400,000!
5587  Bitcoin / Bitcoin Technical Support / Re: I have a question about Bitcoin cold wallets on: January 19, 2022, 04:45:40 AM
If all wallets belong to either cold or hot wallets, a hardware wallet has to be listed in the cold wallet category because it can't be a hot wallet. Hot wallets such as web wallets, desktop wallets, or mobile wallets are always connected to the internet. A hardware wallet isn't. You only connect it when you need to use it and even then it has a secure element that protects your private keys.
We are not limited to only 2 categories, but if we were limited I would categorize them as hot wallets since it doesn't matter if they are connected whenever you need them or there is some protection measures in place, they are still being connected to the internet. Additionally there has been exploits that could have led to losses when the user connected their hardware wallet to the internet.

In any case we should either call them hardware wallets (as the category) if at least a semi-cold wallet.
5588  Bitcoin / Electrum / Re: Seed Phrase Compatibility With Newer Version on: January 19, 2022, 04:37:27 AM
Nothing about the seed generation algorithm changed between versions 3.x and 4.x so there is no reason for the new version to not recognize the seed phrases generated by that old version. Additionally Electrum like most softwares will try to always keep backward compatibility so that you can always use any seed phrase or wallet file created by the older versions (that includes version 1.8+) in the new versions.
5589  Bitcoin / Bitcoin Discussion / Re: Bitcoin payments decline as other cryptocurrencies grow on: January 18, 2022, 08:37:27 AM
Hope this will not affect bitcoin adoption if people that are using it for payment is decreasing?
Technically those who use centralized third parties aren't even using bitcoin in first place. So it doesn't affect bitcoin adoption at all.

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And now that bitcoin fee is that high,
Basically bitcoin fees haven't been high ever since 2017!

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if exchanges are charging 0.0005 bitcoin
You are paying the exchanges (and any other similar centralized services like Bitpay) to use their service. It is the cost of using them. It has nothing to do with bitcoin or its transaction fees though.

I wrote about it because of the news and because it can slightly indicate how people are using altcoins with low fee
Interesting statement because most altcoins that had a small increase in their usage had a much bigger fee spike than bitcoin. Specially these days that they are facing huge fees due to the altcoin bloodbath. For example ETH fee that you mentioned earlier has reached more than $80 on average!

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when exchanges and custodial wallets are confusing people that bitcoin fee is high but not high like they said.
I don't think they are.
Despite what it may look like, majority of people don't use exchanges or custodial wallets.
5590  Bitcoin / Bitcoin Discussion / Re: Bitcoin: Complete inelasticity of supply on: January 18, 2022, 08:26:46 AM
Don't "second hand" sales in either gold or Bitcoin count as"supply"?
If the price goes up to a certain amount, someone will sell some.
It does but the freshly mined coins entering the market are also supply and the point OP is trying to make is that unlike something like gold, when bitcoin price goes up you can't mine more of it to dump on the market because there is more incentive to do so.
5591  Other / Beginners & Help / Re: How do you find out to invest or not in a coin? on: January 18, 2022, 07:09:39 AM
~
I personally believe that the context it is important, times are different since Satoshi were amoung you all here in the forum and a proyect being launched by anonymous creators should be a yellow flag, but not a deal-breaker on its own, scams are more common nowadays and so we shall be more cautious.

Again, just my oinion.
Yeah but it doesn't have to be scams though. We are talking about investing and viability of projects. There has been a lot of projects with known developers and even big "foundations" with a big team that turned out to be the worst projects of all times. They basically use their faces to advertise the "shitcoin" and gain popularity for different benefits.

For example I'd say one of the oldest coins that is without any innovation is Litecoin and the developer used it as a stepping stone to gain a resume and join companies like Coinbase to make a lot of money.
Or Ripple which created a useless garbage which they used to create partnerships with banks and make money that way (among other things).
The list goes on...
5592  Bitcoin / Bitcoin Discussion / Re: How liberal was Satoshi Nakamoto? on: January 18, 2022, 06:55:06 AM
what does this technical question have to do with satoshi's political stance (liberal or otherwise)?
Oxford dictionary says Liberal is "the willingness to understand and respect other people's opinions, especially when it differs from yours".
That I why I used the word. Because it seems Satoshi was not willing to understand others opinions in the thread above. That is where I drew my title from.
I'd like to think that one of the reasons why Satoshi went away was so that people stop focusing on what he thinks about bitcoin. You see, bitcoin is a decentralized currency that doesn't have one centralized authority deciding what opinion matters and what doesn't. The whole network does.
So to answer your question, it doesn't matter if Satoshi was "liberal" or not, he is not the decision maker, he is just the inventor.
5593  Bitcoin / Bitcoin Discussion / Re: Growth of Bitcoin? on: January 18, 2022, 06:33:06 AM
So is that good for motivating other countries to make it legal tender as currency?
Unlike you, the countries don't care about short term volatility. They look at the bigger picture where price was $4k last year and it is $40k this year.

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The whales have deep roots in btc and it will always be a drawback for the organic growth of Bitcoin.
Bitcoin price cannot be manipulated in the way you think it is. The effects are small and most of the times short lived. Also more importantly as the market grows the manipulation becomes increasingly harder. For example we don't have the same market manipulation in 2020+ that we had in 2010 to 2014. It has decreased in effectiveness by a lot.
5594  Bitcoin / Bitcoin Discussion / Re: Curbing Blockchain evolution? on: January 17, 2022, 10:51:53 AM
The governments can ban bitcoin and a handful of them have already banned bitcoin. But the important distinction is that you can never prevent anyone from using a decentralized money.

You know how the United States tried to ban illegal drugs?
That's a bad example because it is a negative thing all over the world and by any logic. Whereas bitcoin is not only positive but also it is accepted in most of the world. A better example would be banning certain P2P networks such as banning torrent that is not negative by nature.
5595  Economy / Speculation / Re: The Deep before the Raise on: January 17, 2022, 07:31:43 AM
People wait for a deeper dip to buy “maybe 4K or lower”, but they never realize that hope won't happen because at that point the price starts to bounce faster than expected. I enjoyed that time, and I can still remember how panicked the traders were at the time.  Cheesy
The funny thing about people who wait for a bigger drop after an already big drop is that these people would wait if that bigger dip happened too! For example I remember clearly when price was $6k they were waiting for a bigger drop and as it happened the price did drop down to $3.2k but they still didn't buy. Instead they waited and wished for $1.5k. You can still find their topics on bitcointalk and how they are "wishing" for such a big drop.
Suffice it to say that these people bought back when price reached $7k+!!!
5596  Bitcoin / Development & Technical Discussion / Re: Odd or even? on: January 17, 2022, 07:11:59 AM
There are at least two different private keys that can be generated, one and the same public key and everything related to it, to the address itself.
A public key P(x,y) is computed from one and only one private key.
Keep in mind that P(x,-y) is computed from a different private key too which is equal to n-k.
5597  Bitcoin / Bitcoin Discussion / Re: Does El Salvador’s Chivo Bitcoin wallet run on Algorand? on: January 17, 2022, 06:38:58 AM
It is pretty easy to verify actually.
The shitcoin in question here has a blockchain and a couple of online block explorers. All you have to do is point out the corresponding transactions on Algorand with proof that the bitcoin transactions in Chivo correspond to those transactions.

Until then I stand on my initial judgement and avoid any different conclusion.
5598  Bitcoin / Bitcoin Discussion / Re: A solo Bitcoin miner just won block 718214 reward worth 6.25 $BTC on: January 17, 2022, 06:30:26 AM
yes please correct me
show me ~ how users of CK are not pooled,
I already did.

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*(widely accepted concept 2009-2012+)
solo mining(technical concept of transaction collating and block formation by the user to have their own unique hash to work on without a pool manager doing it for them)
The definition of solo mining is someone who isn't sharing/pooling the "work". Whether or not they run their own node isn't changing that.
However, you can and should criticize that these miners are not independent since they don't run their own node and rely on a third party.
5599  Economy / Exchanges / Re: Where does Binance Report account owners? on: January 17, 2022, 05:11:11 AM
How do you expect Chainanalysis and other similar blockchain analysis companies are getting all their information from, it's surely not from thing air or from regular customers.
By analyzing the blockchain. They don't have to receive the data from the exchange, knowing some of their addresses will help linking transactions. Besides most of their service for exchanges includes taint analysis which doesn't need that, they just report anything that looks like a mixed coin and it is not like their reports have been accurate! They are mostly nonsense anyway.

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I remember Binance giving customer information to government of Netherland without any court order, and they even froze accounts for some of their customers who are not Dutch citizens and they don't have any connection with that country.
Good point. Maybe "court order" was a strong statement, an "official request" might have been better. It is not like Binance has pledged customer privacy protection. If a government of a country from which they are getting a minimum revenue requests data, Binance will comply without resistance.

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For me Binance is shady exchange, but most people consider it one of the best exchanges in the world, even if they already had big leak of all customer data information.
I don't believe a single big company (or government parasites) to keep our information safe and secure.
This is just my own opinion and I could be wrong of course.
I completely agree.
5600  Other / Beginners & Help / Re: How do you find out to invest or not in a coin? on: January 17, 2022, 04:59:39 AM
- Check whether their developers are anonimous or not
Identity of the developers should not change anything about the project. Look at bitcoin, nobody knows who Satoshi is and yet it is the only viable cryptocurrency that exists in real world. Now look at loads of altcoins with known developers that only exist in exchanges to be pumped and dumped.
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