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581  Other / Meta / Re: Bitcointalk forum holding 125 BTC on: April 09, 2021, 12:31:08 AM
When considering ad revenue, mod payments, and treasurer payment accruals, the forum is certainly operating in the red. The forum has the ability to operate this way for many years/decades, so theymos may not be concerned. I do think that the forum should at least allow targeted ads, which I would anticipate increase total ad revenue.

Of course, I'm not in the same level as you guys are, on commenting about the forum and its revenue but i would like to say about targeted ads... they are never beneficial in long run. I personally loose trust on any website running targeted ads. May be forum will gain some revenue but how much user base it might lose?
That doesn't make sense to me. Why do you not trust sites running targeted ads? Someone who regularly views, but doesn't post in the gambling sub would probably be interested in ads for a casino, while someone who posts in the altcoin sub might be more interested in an exchange.

Your post history is no secret. The forum is already collecting enough information to serve targeted ads, but for some unknown reason is not doing anything with the data it is collecting on its users.
582  Economy / Securities / Re: 📈 NastyFans: The Bitcoin Enthusiast Fan Club (est. 2012) on: April 09, 2021, 12:25:54 AM
Quote
Tesla
A couple of things about this comparison:
*A car is a deprecating asset. A car gives utility (the ability to quickly move from point A to point B), which over time, removes the value of said asset. Except in unusual circumstances, someone buying a car is doing so for the utility, not for the hope of it increasing in value.
*I think most reasonable people who invested in NastyFans expected to have returns in terms of BTC, not USD. This is true for all investors in mining equipment. Mining equipment is illiquid, and as such is going to generate higher than /BTC returns for people to continue to invest in mining equipment, otherwise people would simply invest in bitcoin.

I think some reflection as to why NastyFans has performed the way it has since its inception is in order. What happened to cause the price of seats to go down so much? Like cars, mining equipment is a deprecating asset because they will generate less revenue over time as the difficulty increases, however mining investors expect the mining revenue to make up for the lost value in the miners.
583  Economy / Exchanges / Re: IRS John Doe summons on Kraken on: April 09, 2021, 12:06:54 AM

I'm also surprised they only want to know accounts above $20,000.
I believe they were able to get the scope of the summons narrowed somewhat
The $20,000 limit is essentially what Coinbase negotiated to. The IRS had initially demanded the details of all Coinbase's US customers, and the final settlement was all customers who had traded over $20,000 within a year. Given that is what Coinbase handed over, I wouldn't expect Kraken to be able to negotiate any significantly different arrangement.
Jesse Powell gave pushback against giving information to NY regulators a few years back when Kraken was not allowing New York resident to use his service, so he may put up a bigger fight than Coinbase gave.

Interesting. Are banks treated the same way in the US? When I file my taxes, even bank accounts without a balance are pre-filled, and literally every cent is accounted for.
No. Certain bank transactions above thresholds are reported to the government, but this is mostly for AML purposes, not necessarily tax fraud/collecting tax purposes. The IRS does not have access to bank balances, although there is a means for the IRS to get your balances:

Interesting. Are banks treated the same way in the US? When I file my taxes, even bank accounts without a balance are pre-filled, and literally every cent is accounted for.

See that's the advantage of living in a surveillance state... you don't need to bother declaring bank balances in the US except foreign accounts, IRS probably already knows domestic ones Smiley
The Bank Secrecy Act restricts when banks can disclose information to the government or other third parties.
584  Economy / Exchanges / Re: Accidentally deposited USDT to ETH wallet on: April 08, 2021, 01:51:42 PM
After following up gently (aka once-weekly follow-up), the Gemini team was able to work with me to help me recover USDT. According to them, because USDT is a type of ETH token and per their smart contract, they were able to recover USDT if I deposited a small amount of ETH to the address that I accidentally deposited USDT to. This would activate that incorrect address, which had helped their wallet team recovered the amount.
Glad they granted your request.
BTW, I think the small amount is for the gas fee instead of "for activation" since sending out your USDT will require a transaction fee.
You are probably right. I am surprised that gemini wasn't able to send their own ETH to pay for the gas, and take a portion of the recovered token as a fee that could pay for the gas. 
585  Economy / Exchanges / Re: IRS John Doe summons on Kraken on: April 08, 2021, 01:47:54 PM
Jesse Powell should fight this in court. However, similar to the other cryptocoin exchanges under the annonyance of the American government, I predict an annoucnement from Kraken telling their users that they will begin leaving US jurisdiction and stop accepting American customers.
This is pretty much exactly the same as when the IRS demanded that Coinbase hand over details of all their customers and their trading activities a few years ago,
Coinbase fought this years ago and lost. I believe they were able to get the scope of the summons narrowed somewhat, and Jesse Powell may be able to get the scope of the summons reduced somewhat.
586  Other / Meta / Re: Don't you guys think it's time for LN to have it's own (sub)section now? on: April 08, 2021, 01:40:01 PM

The number on some board is small because most LN question/topic happened on one megathread, The Lightning Network FAQ.
I think this is a very valid point.

Traditionally, the need for a new sub is measured by how many threads on a topic are on the first few pages in their existing sub. A better measure might be similar to when a new local sub is created when the one megathread for the local community gets too big.

The LN megathread is currently 37 pages, and it appears that posts tend to occur there in bursts. I would ask if it is common for posts to get "lost" that might otherwise get responded to because there are too many other posts?
587  Other / Beginners & Help / Re: Facebook's 533M accounts leaked online and what does it mean for crypto users on: April 08, 2021, 01:33:58 PM

It didn't mention any plans on informing their users, but it does say they have a dedicated team working to take the dataset down. Good luck with that lol.
I don't think they are trying to take the dataset down (once it is in the public domain, it will always be out there). I think they are trying to find ways in which information can be leaked from Facebook.


The biggest risk of the leaked information is that a thief will try to port your phone number to hack your accounts. This can be mitigated by not using SMS 2FA, and use a token based 2FA, such as google authenticator. It is possible that additional information will be combined with information from this leak that might lead to useful information about you. If this is a problem, it is too late now, but moving forward, you can use unique email addresses for each service you sign up for.
588  Bitcoin / Development & Technical Discussion / Re: Crazy pow power reduction idea on: April 08, 2021, 01:22:01 PM

This won't work.


At 8 minutes somehow generate random number  (possibly use last/nearest tx broadcast closest to 8 minute mark as the random number?).
Next block must be solved including hash of last block and random number generated to prove work started after the 8 minute mark since last block solved.
Who determines what the random number is? Transactions are not timestamped when they are broadcast, and there is nothing to stop a miner from broadcasting their own transaction 8 minutes after the prior block was found.

Also, block timestamps are not the exact time a block was found, it can have up to a two hour variance, so it is possible for block n to have a later timestamp than block n + 1.
Still requires the same amount of computing power giving same security, but miners only run for 2 minutes out of every 10 minutes instead of constantly..
Reduces power consumption by 80%..
It takes time to shut down a miner, and to start a miner. The power savings would not quite be 80% under perfect circumstances.

I think this would encourage miners to backdate (or back time) found blocks, and withhold the blocks until the next block is broadcast, creating many orphans.


I do find this to be a valid point..

I’m not a code genius..
How could a starting pistol shot random number be programmed to be broadcast after an about 8 minute idle period to start the 2 minute hashing sprint?
Thus proving they didn’t start hashing until the idle period was over..

The way I’m imagining it, until this random number was broadcast after the idle period, they wouldn’t even have anything to work/hash on, because they don’t yet have all of the information they need to create a valid block at all..

Nodes would reach a consensus as to what this random number is after the idle break, and not accept a block that did not include it the random number.. Block would be invalid without it..
Somehow..
Nodes do not normally "reach a consensus" on anything. Nodes will validate each block according to consensus rules, confirming that each block is valid, and that no blockchain exists that has a higher total POW.

No matter what, someone will have the ability to know the "random number" ahead of time, and could use this information to their advantage, either by mining personally, or selling the information to a select group of miners. It is possible to prove that you knew information on or after a certain time, but it is not possible to  prove you did not know information prior to a certain time.

This wont create an opportunity for a 51% attack. The ability to pull off a 51% attack is based on the attackers hashrate as a percentage of the total network hashrate, it is not a function of the difficulty.
That's right, it was poor choice of words. What happens is an increased number of stale blocks whenever difficulty is reduced and if there are malicious/competitive miners active on the chain. The effects are similar to a 51% attack since the last block that was mined is going to be replaced over and over.

If the difficulty target block time is reduced, there will be more stale blocks because there is a higher probability that two blocks will be found in the time it takes for a found block to be propagated and validated by the network. This has nothing to do with a malicious actor.

In the case of competing blocks at the same height, the current status quo allows a "race" to be potentially resolved very quickly if a subsequent block is quickly found, however under this proposal, it will take a minimum of 8 minutes to resolve. 
589  Bitcoin / Development & Technical Discussion / Re: Crazy pow power reduction idea on: April 08, 2021, 03:57:38 AM
2. When you reduce the difficulty, the hashrate doesn't go away. It is still there and when the difficulty is reduced by 80% that massive hashrate can find the next block in an instance. Now we are facing an easy to perform 51% attack.
This wont create an opportunity for a 51% attack. The ability to pull off a 51% attack is based on the attackers hashrate as a percentage of the total network hashrate, it is not a function of the difficulty.
590  Bitcoin / Development & Technical Discussion / Re: No more Blocks Generated if Mempool is Empty on: April 08, 2021, 01:51:41 AM
My question is: Is it possible to stop the block generation when mempool is empty?
In a hypothetical situation, in the future, tx fees will make up the majority of miners' income. If there are periods during which there are not transaction (fees), most miners may decide to turn their machines off until there are enough transactions to confirm that pay a sufficiently high fee.

However, as long as the block subsidy is high enough, miners will decide to mine empty blocks if the mempool is empty. Or they will mine blocks full of transactions to themselves, if there is some rule requiring blocks to have a certain number of transactions.
591  Bitcoin / Development & Technical Discussion / Re: Crazy pow power reduction idea on: April 08, 2021, 01:46:14 AM
This won't work.


At 8 minutes somehow generate random number  (possibly use last/nearest tx broadcast closest to 8 minute mark as the random number?).
Next block must be solved including hash of last block and random number generated to prove work started after the 8 minute mark since last block solved.
Who determines what the random number is? Transactions are not timestamped when they are broadcast, and there is nothing to stop a miner from broadcasting their own transaction 8 minutes after the prior block was found.

Also, block timestamps are not the exact time a block was found, it can have up to a two hour variance, so it is possible for block n to have a later timestamp than block n + 1.
Still requires the same amount of computing power giving same security, but miners only run for 2 minutes out of every 10 minutes instead of constantly..
Reduces power consumption by 80%..
It takes time to shut down a miner, and to start a miner. The power savings would not quite be 80% under perfect circumstances.

I think this would encourage miners to backdate (or back time) found blocks, and withhold the blocks until the next block is broadcast, creating many orphans.
592  Economy / Service Discussion / Re: Words of caution about buying miners on Ebay on: April 07, 2021, 11:39:09 PM
I doubt the fraudster is that stupid. Besides, is your statement assuming OP and the fraud live on same country?

A lot are lazy which is why they're fraudsters in the first place, and lazy means committing mistakes along the way. This scammer could have made off with $20k from just one instance of scamming, with the amount of money involved in frauds I'm sure they or their countries' authorities work can with authorities from around the world, e.g.:

https://www.bbc.com/news/world-europe-14152042
https://www.justice.gov/opa/pr/organized-romanian-criminal-groups-targeted-doj-and-romanian-law-enforcement

I thought such cooperation between multiple countries only happen on more serious case (such as terrorism). OP post indicate he lives on US, while the fraudster might live on China/Kazakhstan, i don't know about Kazakhstan, but i doubt US could have China cooperation in this matter.
The US has a treaty with Kazakhstan that compels their government to help with investigation of crimes the US is investigating. My guess is the State department would need to get involved for it to be invoked, and I don't think the State Department is going to get involved in a $20k dispute in which the complaining party suffered no losses. If there was a pattern and eBay were to complain, it might be a different story.

Keep in mind that the seller was claiming to be from Kazakhstan, but that does not make it true.


4.  Ebay doesn't care about the fraudulent sellers on it's platform and they will punish anyone that causes them a loss by banning them for the "good of the community".
My guess is that eBay suffered losses when refunding your money, and that the seller was probably able to withdraw the proceeds of the sale to their bank account.
593  Economy / Invites & Accounts / Re: This account is for sale on: April 07, 2021, 09:08:16 PM
Im curious if you are actually the real maidak, or if this account was hacked. I also suspect that this is an attempt to troll the forum.
594  Other / Meta / Re: Bitcointalk forum holding 125 BTC on: April 07, 2021, 09:29:23 AM
The last mod payment resulted in the mods getting a total of 0.1844BTC, and was sent in the middle of March. I looked at the previous ad auctions going back a month (based on the end date) prior to the mod payment being sent, and the forum received a total of 0.325BTC from selling ads. So it looks like last month, the forum spent about 56% of their revenue on mods. At current prices, that leaves about $8100 to pay for hosting, and any other expenses the forum may incur.
There's also a considerable cost for forum treasurers: (at least) 4*0.75BTC per year, or 0.25BTC per month. That's 77% of the ads revenue you mentioned.
The fact that forum treasurers are getting paid ~45 grand/year to safeguard private keys makes me regret my escrow shenanigans from years ago even more.

I think theymos is probably overpaying for what amounts to escrow services, considering that each treasurer may not need to ever do any work, or sign any transaction.

When considering ad revenue, mod payments, and treasurer payment accruals, the forum is certainly operating in the red. The forum has the ability to operate this way for many years/decades, so theymos may not be concerned.I do think that the forum should at least allow targeted ads, which I would anticipate increase total ad revenue.
595  Other / Meta / Re: Is there any section of the forum visible only to selected members like VIP? on: April 07, 2021, 08:12:46 AM
I can't imaging the cost of serving a single user stats page being very high. Oe option might be to allow copper members to view at most 50 user stats page per month, and perhaps create another member type that is allowed to view more user stats pages per month that might be a different price than a copper member. The majority of copper member stats page views would probably go unused.

One thing that theymos has done an especially poor job at is monetizing the forum. This is probably in part because he was such an early investor/adopter of bitcoin that he no longer needs to care about money, and has other priorities to advocate for. Special features is probably one additional means the forum could be monetized.

Improving the auction process for forum ads is another way the forum could generate additional revenue. Allowing advertisers to better target forum members would be a good first step in increasing revenue. Ditto with changing the metric that ads are displayed from "time" to "page_views"
596  Economy / Service Discussion / Re: Accepting Bitcoin for Ebay sales on: April 07, 2021, 07:19:35 AM
I'm having another go at clearing my garages, and I'm thinking of listing some items on Ebay. However, it looks as if they have become more restrictive in their listing policy. Some years ago, PreyPal itself attempted to scam me, so I don't want to allow that method. I prefer Bitcoin,but would accept cash or bank transfer. Does anyone know if this policy will make Ebay unusable for me?

I didn't list any item to sell on Ebay recently but I know they are not accepting Bitcoin for sure and you don't have to use PayPal if you just add your bank account.
If you read their payment policy page you can see they are accepting credit and debit card, ApplePay and GooglePay and for some specific approved categories there are additional online payment options like Allpay, CertaPay and others.
It's about time for Ebay to add Bitcoin and maybe that will happen at some point after Rakuten added support for Bitcoin recently, but I would not count on that, and all attempts to make some alternative crypto marketplace failed so far.

I dont think eBay will allow bitcoin to be used as a payment method, unless it is through some kind of escrow service they approve.

The policy you cited says that eBay only allows payment methods "that offer strong protection for buyers and sellers", and they explicitly disallow irreversible methods such as cash in the mail, and Western Union payments. 
597  Economy / Reputation / Re: Goodbye, world! on: April 07, 2021, 07:12:00 AM
I think some people are unable to let go of a petty grudge.
Plenty of people make claims about Lauda.  Quickseller has been here for long enough that he has probably heard it all, and he probably knows from experience to take it for what it’s worth.  I really don’t think (and I didn’t intend to insinuate) that he meant anything bad here, where people are just shooting the bull and nobody not even nobody really knows anything.  ¯\_(ツ)_/¯
i was told the information in question before lauda became a well known forum member, and the person who told it to me is someone who has solid ethical values, so I have multiple reasons to believe it is true. Over the recent years, lauda has taken many steps to safeguard her privacy, so I would assume she would have cutoff communication with this person when she abandoned her lauda persona.
598  Other / Meta / Re: Is there any section of the forum visible only to selected members like VIP? on: April 07, 2021, 07:06:22 AM
The information in the stats page doesn’t get “tracked”. Any time someone visits a stats page, the stats need to be calculated, and the calculations are very resource intensive. I don’t believe the cost of allowing people to visit the stats page a single time increases as the number of users increases, but rather that the cost is simply high and Theymos was probably trying to reduce server costs when he turned off access to the stats page.

To be honest I don't know how it works in detail, but if it's resource intensive it really wouldn't make sense to have the forum's stats functions to run the same queries every time any user visits the stats page instead of once in a while and otherwise showing cached info.


The forum has over 3.2 million users, and probably 99.9% of those accounts will never have their stats page looked at by anyone, so creating cashed versions of the stats page would use more resources over the long run. It might make sense to keep a cashed version of an accounts page for up to a month, or however long, but this would open the forum to a DoS attack in which an attacker visits many accounts' stats page.

I might suggest that theymos calculate the cost of forum resources to visit one stats page, and allow people to view a single stats page after paying a LN invoice of the same amount.
599  Economy / Reputation / Re: Goodbye, world! on: April 06, 2021, 11:27:28 PM
I also hope that Satoshi is alive and well... 
This is unlikely. Satoshi mined an estimated million bitcoin, and has not touched them despite his stash being worth an estimated $60 billion. I think he is either dead, or has lost his keys, in which case he is living with the fact that he lost something that would make him the ~22nd richest person in the world.

Does anyone really know her in this forum?
I know that at least one person knew lauda on a personal basis. This was before lauda became infamous, and was a low profile forum member.
600  Economy / Goods / Re: ~ Buying a TESLA CYBERTRUCK with BITCOIN ~ on: April 06, 2021, 07:26:07 AM
IMO, the cybertruck is ugly

I certainly agree to this and imho it's one of the "points" that makes people not choose it.

I kinda feel like that Musk is trying to make a statement with the Cybertruck. It is apparently cheaper than comparable trucks, which is the opposite of prices of electric cars when compared to gas cars (gas trucks tend to get poor gas milage). Gas trucks also tend to have high profit margins for car companies. 
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