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61  Bitcoin / Bitcoin Discussion / Re: Poll: when will cryptocurrency go mainstream? on: September 09, 2020, 08:49:07 PM

These 10 Countries Lead the World in Bitcoin Adoption
https://decrypt.co/41254/these-10-countries-lead-world-bitcoin-adoption

Quote
If cryptocurrency adoption is making any headway in breaking into mainstream economies, it isn’t necessarily the world’s economic superpowers that are leading the way.

According to a new report from blockchain research firm Chainalysis, of the 10 nations where cryptocurrency use is highest, only two are even developed economies: China and the United States./quote]

Quote
Of the 154 countries that the firm analyzed, it found that Ukraine, Russia, and Venezuela lead the world in terms of crypto adoption. Rounding out the top 10 are China, Kenya, the United States, South Africa, Nigeria, Colombia, and Vietnam.

62  Other / Meta / Re: Why doesn't the Bitcointalk forum have a mobile app? on: September 09, 2020, 06:44:47 PM
I would like to know why to this day the bitcointalk forum still does not have a mobile application? on android or apple? most people nowadays use their cell phone to write on forums and it would be more user friendly Smiley. The bitcointalk forum is currently not compatible also on the mobile phone browser it remains in desktop mode Sad

Who would like to have a forum available on a compatible cell phone?
Simple machines forum software is open source and does pre date smart phones, but I use it on my phone and tablet as well as the PC. Feel free to provide your feedback to the open source project directly here  https://www.simplemachines.org/
63  Bitcoin / Bitcoin Discussion / Re: Poll: when will cryptocurrency go mainstream? on: September 08, 2020, 11:59:58 AM
Poll closes today Wink

a relevant article:
How bitcoin met the real world in Africa
https://www.reuters.com/article/us-crypto-currencies-africa-insight-idUSKBN25Z0Q8

Quote
The shift has boosted his profits, as he no longer has to buy dollars using the Nigerian naira or shell out fees to money-transfer firms. It is also one example of how, in Africa, bitcoin - the original and biggest cryptocurrency - is finding the practical use that it has largely failed to elsewhere.

“Bitcoin helped to protect my business against the currency devaluation, and enabled me to grow at the same time,” Odunjo told Reuters from his two-by-eight metre shop.

“You don’t have to pay charges, you don’t have to buy dollars,” the 30-year-old said, raising his voice above the sound of loud haggling and the honking horns of scooters.

Quote
Why a boom in Africa? Young, tech-savvy populations that have adapted quickly to bitcoin; weaker local currencies that make it harder to get dollars, the de facto currency of global trade; and complex bureaucracy that complicates money transfers.

Quote
Yet risks abound.

Bitcoin and other cryptocurrencies are unregulated in many countries and their legal status is unclear, meaning there is no safety net and little recourse if you lose funds.

For many, converting local currencies to and from bitcoin relies on informal brokers. Prices are volatile, and buying and selling is a complex process that demands technical knowledge.

In 2018, the Nigerian central bank warned cryptocurrencies were not legal tender, and investors were unprotected.


64  Bitcoin / Bitcoin Discussion / Re: Where did Satoshi Nakamoto ever compared Bitcoin to gold or digital gold? on: September 06, 2020, 07:15:35 PM
Not exactly what I want. Though in the same vein. I remember it was specifically with gold.
  Sorry then Satoshi didn't say it...that is the only reference to gold he ever posted or emailed (that has been made available) outside of the mining reference.
65  Bitcoin / Development & Technical Discussion / Re: BTC Wallet Tracing on: September 06, 2020, 05:34:29 PM
I also need help with this

I had this bitcoin wallet address 1DBU8EeoJcTNkfjz6hTTjR1RAH3DEzh9YS

But cannot remember the exchange or email i used when i signed up

Can anyone help please
Nobody can help you in anyway.
If you don't have access to the address' private key or recovery/back up phrase or do not remember your exchange's login details then forget about the bitcoins.

Just wondering who forgets the account details where they kept the money?
  The good news is that 1DBU8EeoJcTNkfjz6hTTjR1RAH3DEzh9YS only has 0.01103010 BTC left (~$112 USD) after some transactions back in 2015.
66  Bitcoin / Bitcoin Discussion / Re: Where did Satoshi Nakamoto ever compared Bitcoin to gold or digital gold? on: September 06, 2020, 04:42:55 PM
I m confronted to someone who states that Satoshi Nakamoto never compared Bitcoin to gold in the monnetary sense (not about mining).
However, I m sure to recall a quote from Satoshi stating Bitcoin is digital gold which was used several years ago in the debate of Bitcoin vs Bitcoin cash as an argument that Bitcoin is a store of value and not a meant of payment.
I m failing to find it again. The only thing I found is about Bitcoin mining, but this isn t in the meaning I need to prove.

Maybe this thread is what you were thinking about?   https://bitcointalk.org/index.php?topic=583.0

The Money Regression and Emergence of Money from the Barter Economy
The entire purpose of the regression theorem was to help explain an apparent paradox of money: how does money have value as a medium of exchange if it is valued because it serves as a medium of exchange?  Menger and Mises helped break this apparent circularity by explaining the essential time component missing from the phrasing of the paradox.

As Rothbard explains in Man, Economy, and State (p 270),
"...a money price at the end of day X is determined by the marginal utilities of money and the good as they existed at the beginning of day X. But the marginal utility of money is based, as we have seen above, on a previously existing array of money prices. Money is demanded and considered useful because of its already existing money prices. Therefore, the price of a good on day X is determined by the marginal utility of the good on day X and the marginal utility of money on day X, which last in turn depends on the prices of goods on day X – 1. The economic analysis of money prices is therefore not circular. If prices today depend on the marginal utility of money today, the latter is dependent on money prices yesterday." [all emphasis added]

Rothbard then goes on to explain that in order for money to emerge from a barter economy, it must have a preexisting commodity value.  This commodity value arises from barter demand for the potential money in direct consumption (i.e. ornamentation).  This value seeds future estimations of the value of the money as a medium of exchange.  The natural market emergence of money is thus fully explained.

The Monetary Economy
However, once an economy has been monetized and a memory of price ratios for goods and services has been established, a money may lose its direct commodity value and still be used as a money (medium of indirect exchange).  Rothbard explains (p 275):
"On the other hand, it does not follow from this analysis that if an extant money were to lose its direct uses, it could no longer be used as money. Thus, if gold, after being established as money, were suddenly to lose its value in ornaments or industrial uses, it would not necessarily lose its character as a money. Once a medium of exchange has been established as a money, money prices continue to be set. If on day X gold loses its direct uses, there will still be previously existing money prices that had been established on day X – 1, and these prices form the basis for the marginal utility of gold on day X. Similarly, the money prices thereby determined on day X form the basis for the marginal utility of money on day X + 1. From X on, gold could be demanded for its exchange value alone, and not at all for its direct use. Therefore, while it is absolutely necessary that a money originate as a commodity with direct uses, it is not absolutely necessary that the direct uses continue after the money has been established."

This explains the history of fiat currencies.  They originally started off as simple names for weights of commodity money (silver) that developed out of the pre-monetary barter economy.  Despite later losing their ties to direct commodity value through state interference, paper currency retained status as money because of memory of previous money prices.  This factor is so strong that the relationship between gold and the USD, for example, is somewhat inverted.  Gold no longer circulates as a common medium of exchange.   Prices are set in USD, not in gold.  Most individuals wishing to trade in gold do so based on their knowledge of USD/gold price ratios.  ("Hey, let me buy that $100 couch from you in gold?"  "Ok, USD/gold is $1000/oz. Give me 1/10oz of gold.")  Legal tender laws, state taxation, and the entire financial regulatory environment maintain this inertia of USD prices and make it challenging to return to gold money directly, despite the destructive inflationary nature of fiat currencies.

satoshi's response:

As a thought experiment, imagine there was a base metal as scarce as gold but with the following properties:
- boring grey in colour
- not a good conductor of electricity
- not particularly strong, but not ductile or easily malleable either
- not useful for any practical or ornamental purpose

and one special, magical property:
- can be transported over a communications channel

If it somehow acquired any value at all for whatever reason, then anyone wanting to transfer wealth over a long distance could buy some, transmit it, and have the recipient sell it.

Maybe it could get an initial value circularly as you've suggested, by people foreseeing its potential usefulness for exchange.  (I would definitely want some)  Maybe collectors, any random reason could spark it.

I think the traditional qualifications for money were written with the assumption that there are so many competing objects in the world that are scarce, an object with the automatic bootstrap of intrinsic value will surely win out over those without intrinsic value.  But if there were nothing in the world with intrinsic value that could be used as money, only scarce but no intrinsic value, I think people would still take up something.

(I'm using the word scarce here to only mean limited potential supply)
67  Economy / Economics / Re: Which currency will dominate the crypto market? Please vote! on: September 04, 2020, 10:51:04 PM
However, concerning the crypto market, bitcoin still remains the first gone and will continue to dominate. Consider the price difference between bitcoin, the leading cryptocurrency and Ethereum, the second crypto. The huge price difference shows how  much ethereum still have to go.
If by price difference you mean the cost per coin I think that is comparing apples to oranges.  Bitcoin has the 21M cap with only 400 coins getting minted a day. Ethereum already had 111.5 M in circulation by July this year and minting a LOT more than 400/day. Still Ethereum is providing some very interesting capabilities that bitcoin doesn't like its smart contracts.  Time will tell, but I am long on both  Cool
68  Bitcoin / Bitcoin Discussion / Re: Bitcoin's Image Is Getting Stronger by the Minute on: September 04, 2020, 01:51:33 AM
-snip-
In mid August, bitcoin reached $12k and people are thinking that this is the sign for an another ATH this year. We are being optimistic and waiting for more increase but it didn't went that far because it suddenly go back to $11k. I'm still hoping that ATH will occur this year or in 2021 after this Covid-19 was eliminated and done.

Some people right now are really investing in bitcoin because of its ability to become a good asset when we experienced financial reset. Hopefully, more and more countries will open for cryptocurrency adoption so that bitcoin  community will grow even if we are experiencing this crisis.
The drop in Bitcoin price to the $ 11k area is still very reasonable, as the market is making a correction. We are all optimistic that ATH will only be achieved this year. Many predict 2021 to be a good year for bitcoin.
Good news about bitcoin is starting to emerge. Many people are investing in bitcoin during this time of the pandemic. For cryptocurrency adoption, several developed countries provide regulations on digital currency as a commodity asset, including in my country. in other countries, such as Korea, Bitcoin has even been legalized.

After this pandemic is over I believe Bitcoin will continue to grow and become more desirable. Other adoptions will begin to emerge.
  I am appreciating that bitcoin is no longer mimicking the stock market's movements more recently.  Each is going up and down, but at least not as lockstep as in the spring.  Is this just my imagination or do others agree the stock market is acting less correlated than in the spring?
I was just thinking the same thing, but unfortunately today it crashed the same day market went down hard... Hopefully it is just a coincidence and won't continue correlating.
69  Bitcoin / Bitcoin Discussion / Re: Bitcoin's Image Is Getting Stronger by the Minute on: September 02, 2020, 10:39:49 PM
-snip-
In mid August, bitcoin reached $12k and people are thinking that this is the sign for an another ATH this year. We are being optimistic and waiting for more increase but it didn't went that far because it suddenly go back to $11k. I'm still hoping that ATH will occur this year or in 2021 after this Covid-19 was eliminated and done.

Some people right now are really investing in bitcoin because of its ability to become a good asset when we experienced financial reset. Hopefully, more and more countries will open for cryptocurrency adoption so that bitcoin  community will grow even if we are experiencing this crisis.
The drop in Bitcoin price to the $ 11k area is still very reasonable, as the market is making a correction. We are all optimistic that ATH will only be achieved this year. Many predict 2021 to be a good year for bitcoin.
Good news about bitcoin is starting to emerge. Many people are investing in bitcoin during this time of the pandemic. For cryptocurrency adoption, several developed countries provide regulations on digital currency as a commodity asset, including in my country. in other countries, such as Korea, Bitcoin has even been legalized.

After this pandemic is over I believe Bitcoin will continue to grow and become more desirable. Other adoptions will begin to emerge.
  I am appreciating that bitcoin is no longer mimicking the stock market's movements more recently.  Each is going up and down, but at least not as lockstep as in the spring.  Is this just my imagination or do others agree the stock market is acting less correlated than in the spring?
70  Alternate cryptocurrencies / Altcoin Discussion / Re: 13% ETH Dominance Broken!! >> Medalla testnet live....2.0 Mainnet imminent on: September 01, 2020, 09:30:42 PM
Eth dominancy seems to be breaking 14% of the total market now and i think it will continue increasing now till a new all time high price is achieved for ethereum and looks like this time bulls will be dominated by ethereum.
we will see, but it was a good day for ETH in any case  Grin
71  Bitcoin / Bitcoin Discussion / Re: Poll: when will cryptocurrency go mainstream? on: August 30, 2020, 12:31:40 PM
I saw this article and it made be chuckle....well actually maybe this is how bitcoin (blockchain) will ultimately become mainstream (if you don't believe it is already)....teach the NEXT generation early  Wink

This new card game aims to teach kids about Bitcoin mining
https://www.theblockcrypto.com/post/73990/new-bitcoin-card-game-shamory
Quote
Quick Take
SHAmory is a card game that teaches players the basics of bitcoin mining
The goal of the game is to create a complete chain of ten blocks by matching Nonce and Target cards while mining “rewards”
According to game creator Scott Sibley, SHAmory is intended to raise awareness about blockchain tech

SHAmory — an amalgamation of “SHA” from SHA-256, a cryptographic algorithm used in bitcoin mining — and “mory” from the word memory — is a Bitcoin card game that teaches players the basics of mining.

Sibley came up with the card game about a year ago after he realized he wanted to create something that would make it easier for people to understand the technology's fundamentals. Sibley works for an edtech firm in San Diego and comes from a family of teachers — both qualities that pushed him to create the game. Sibley started shipping orders in early July. When we spoke, he had sold over 100 copies of the game.

There is even hope 'Nonce' might appear in a future SAT test so day... 

Maybe I will buy a copy to show my support for the concept plus I can use BTC (of course) to buy it if I want  Cool


72  Bitcoin / Bitcoin Discussion / Re: Can Satoshi Stop bitcoin? on: August 30, 2020, 12:05:06 PM
If he still owns the private keys of the coins he mined, he can create a huge selling pressure.

When people see that satoshi's coins are moving to the exchanges, this will create panic. Satoshi has around 1 million coins and anybody in the right mind will be afraid because the number is so huge, he can manipulate the market in any direction he wants.

On the top of that, satoshi is seen as the ultimate holder. If any coins move from his addresses, then it pretty much means the game is over. Run for your lives.
Yes, I was thinking along the same lines.  Estimates range of Satoshi mined coins to be from ~800,000 to 1.1+ MILLION.  Today there is ~18,474,000 coins in circulation with only 900 coins mined (added to circulation) each DAY.  Imagine the impact of Satoshi  dumping, say, 1,000,000 coins overnight on the market? That is roughly 5% of the entire amount of coins circulated.  Think about the impact to the gold market if someone suddenly wanted to sell 5% of all of the gold ever mined all of a sudden  Huh 

Technically it is ~5% of the existing coins in circulation, but Satoshi's coins have been dormant over 10 years so some started to wonder if they were lost for good (fun fact the last suspected 'spend' transaction for Satoshi took place on July 22, 2010...if you are interested in a technical analysis of Satoshi's other suspected spent coins see my recent thread Chain Archaeology revisited -- suspected Satoshi SPENT blocks analysis

snip technical blah...blah....
To be honest I was secretly hoping that Satoshi's special miner was simply burning the coins he mined to keep bitcoin going in the early days, but now I don't believe that is the case.  I guess he had to test out his wallet code he was actively involved in developing/maintaining before he move on so why not stress test it with his own massive coin collection?  Wink

I now believe, and fully expect, that some day Satoshi's coins will surface only to prove to us that Satoshi is even smarter than we all believed and be crowned as the ultimate HODLer....I just hope Satoshi's coins don't appear all at once  Tongue
73  Bitcoin / Development & Technical Discussion / Re: Chain Archaeology revisited -- suspected Satoshi SPENT blocks analysis on: August 29, 2020, 06:02:53 PM
I am sure if anyone finds this thread interesting or not (or if I am failing to explain it properly), but I did solve one mystery: 
Why were only SOME of the suspected Satoshi SPENT blocks following the lowest transaction hash pattern (Yellow highlighted ones) and others did not?

If you look closely at the spreadsheet above notice that the 19 coinbase mined blocks identified were only involved in eight [8] transactions sending bitcoins:

1) 9  -> sent 10 BTC to Hal  (earliest transaction hash pattern)
2) 286 -> sent 25 BTC (earliest transaction hash pattern)
3) 2459 & 2485 --> sent 100 (did NOT follow earliest transaction hash pattern)
4) 688 -> sent 50 BTC (earliest transaction hash pattern)
5) 5326 -> sent 50 BTC (earliest transaction hash pattern)
6) 1760, 3479, 9443, 9925, 10645, 14450, 15817, 19093, 23014, & 28593 --> sent 500 BTC (did NOT follow earliest transaction hash pattern)
7) 877 & 15625 --> Sent 100 BTC (did NOT follow earliest transaction hash pattern)
8] 29097 -> sent 50 BTC (earliest transaction hash pattern)

So 5 out of 8 followed earliest transaction hash pattern and all 5 were 50 BTC or less so only requiring one 'input' transaction to be involved from the Wallet, but when 2 or MORE input transactions were involved it didn't follow the pattern.   A bit more research and I think I figured out why:
[RFD] Coin selection algorithm and anonymity
Quote
The selection algorithm, which I call the "best fit" algorithm, boils down to:
   If there is a coin which exactly matches the payment amount, then use it
   Otherwise, find the coin (if any) which exceeds the payment amount by the least amount; i.e. if the payment is 10BTC and you have an 11BTC coin and a 15BTC coin, use the 11BTC coin
   Otherwise, find the best combination of coins which sums closest to the payment amount.
The selection algorithm makes it a little easier for someone to track the ownership of a given coin, which could allow the tracker to link two transactions to a given individual.

so it did not use the first transaction hash available when it did this logic: "Otherwise, find the best combination of coins which sums closest to the payment amount."

Here is the function from early main.cpp for reference:
Code:
bool SelectCoins(int64 nTargetValue, set<CWalletTx*>& setCoinsRet)
{
    setCoinsRet.clear();

    // List of values less than target
    int64 nLowestLarger = _I64_MAX;
    CWalletTx* pcoinLowestLarger = NULL;
    vector<pair<int64, CWalletTx*> > vValue;
    int64 nTotalLower = 0;

    CRITICAL_BLOCK(cs_mapWallet)
    {
        for (map<uint256, CWalletTx>::iterator it = mapWallet.begin(); it != mapWallet.end(); ++it)
        {
            CWalletTx* pcoin = &(*it).second;
            if (!pcoin->IsFinal() || pcoin->fSpent)
                continue;
            int64 n = pcoin->GetCredit();
            if (n <= 0)
                continue;
            if (n < nTargetValue)
            {
                vValue.push_back(make_pair(n, pcoin));
                nTotalLower += n;
            }
            else if (n == nTargetValue)
            {
                setCoinsRet.insert(pcoin);
                return true;
            }
            else if (n < nLowestLarger)
            {
                nLowestLarger = n;
                pcoinLowestLarger = pcoin;
            }
        }
    }

    if (nTotalLower < nTargetValue)
    {
        if (pcoinLowestLarger == NULL)
            return false;
        setCoinsRet.insert(pcoinLowestLarger);
        return true;
    }

    // Solve subset sum by stochastic approximation
    sort(vValue.rbegin(), vValue.rend());
    vector<char> vfIncluded;
    vector<char> vfBest(vValue.size(), true);
    int64 nBest = nTotalLower;

    for (int nRep = 0; nRep < 1000 && nBest != nTargetValue; nRep++)
    {
        vfIncluded.assign(vValue.size(), false);
        int64 nTotal = 0;
        bool fReachedTarget = false;
        for (int nPass = 0; nPass < 2 && !fReachedTarget; nPass++)
        {
            for (int i = 0; i < vValue.size(); i++)
            {
                if (nPass == 0 ? rand() % 2 : !vfIncluded[i])
                {
                    nTotal += vValue[i].first;
                    vfIncluded[i] = true;
                    if (nTotal >= nTargetValue)
                    {
                        fReachedTarget = true;
                        if (nTotal < nBest)
                        {
                            nBest = nTotal;
                            vfBest = vfIncluded;
                        }
                        nTotal -= vValue[i].first;
                        vfIncluded[i] = false;
                    }
                }
            }
        }
    }

    // If the next larger is still closer, return it
    if (pcoinLowestLarger && nLowestLarger - nTargetValue <= nBest - nTargetValue)
        setCoinsRet.insert(pcoinLowestLarger);
    else
    {
        for (int i = 0; i < vValue.size(); i++)
            if (vfBest[i])
                setCoinsRet.insert(vValue[i].second);

        //// debug print
        printf("SelectCoins() best subset: ");
        for (int i = 0; i < vValue.size(); i++)
            if (vfBest[i])
                printf("%s ", FormatMoney(vValue[i].first).c_str());
        printf("total %s\n", FormatMoney(nBest).c_str());
    }

    return true;

I am not a C++ coder, but it appears when the desired amount to send (nTargetValue) is less (or equal to?) any of the wallet's final and unspent transactions then it simply grabs the first one (by transaction hash order it seems) and uses its coins for the transaction:
Code:
 for (map<uint256, CWalletTx>::iterator it = mapWallet.begin(); it != mapWallet.end(); ++it)
but when 2 or more are required it kicks into a different logic to "find the best combination of coins which sums closest to the payment amount" including changing the order of the transactions to be considered via this line I believe:
Code:
    sort(vValue.rbegin(), vValue.rend());

I still find the final transaction d3b94dcede3cbb08c7c0fdd1889478baa5a0b482cd917f276fa07be702326385 sending 50 BTC coins on /22/2010 using coins from coinbase transaction 000FB5BEC80D688D4F4CAD4F969BDAD655CED86248007E92C9500D70E00AD204 most interesting considering it used the first non-spent transactions out of 69,613 previous confirmed blocks and it conforms to the Satoshi mining patterns.

All of this simply explains why there was a stark difference in transaction hash selection if all of these spent coins were supposedly from Satoshi's own wallet. Otherwise, my theories were either the other transactions were not Satoshi's or somehow another wallet was in use by him, but this discovery provides a third explanation where it could still be Satoshi using his big old fat wallet. 

To be honest I was secretly hoping that Satoshi's special miner was simply burning the coins he mined to keep bitcoin going in the early days, but now I don't believe that is the case.  I guess he had to test out his wallet code he was actively involved in developing/maintaining before he move on so why not stress test it with his own massive coin collection?  Wink



74  Bitcoin / Bitcoin Discussion / Re: IRS: Releases Draft from 1040 and it's include virtual currency. on: August 29, 2020, 12:59:24 AM
FYI
https://decrypt.co/40050/how-to-answer-the-crypto-question-on-the-irs-tax-form

Quote
How to Answer the Crypto Question on the IRS Tax Form
Answering the IRS’s crypto question on the new draft on its tax form is mandatory. Here’s how to handle it.

In brief
The IRS has a new draft tax form.
A question on that form makes it clear the agency wants to know about American taxpayers' cryptocurrency activity.
Tax filers must answer the question.

75  Bitcoin / Bitcoin Discussion / Re: Barriers preventing you from using bitcoin today/advantages of using bitcoin? on: August 28, 2020, 08:01:15 PM
Quote
but for me it is about usage as a replacement for fiat money.

i don't see it that way. bitcoin doesn't have to replace fiat to be considered "gone mainstream". the bitcoin adoption, or the ultimate one mass adoption is when people have the option to pay with bitcoin if they choose to or continue using fiat if not.
and i have never read anywhere that Satoshi said anything about "replacing". even in the paper it is referred to as something like an alternative method.

as for advantages, i'd say the main thing is the control and power one has when they use bitcoin compared to using fiat where they have to rely on banks, credit card companies,... to have access to their own money. and that comes with a lot of limitations.
You are right, 'replacement' was a poor choice of words on my part....consider instead 'alternative' (I just edited my original post to reflect this)

Satoshi original paper was entitled  Bitcoin: A Peer-to-Peer Electronic Cash System suggesting he envisioned bitcoin to be an alternative for cash, right?

Unfortunately, I do not use nor do I see much use of bitcoin in the USA in this fashion today....hopefully that will change one day.
76  Bitcoin / Bitcoin Discussion / Re: Winklevoss Case for $500K Bitcoin on: August 28, 2020, 03:49:30 PM
so far my guess about the next peak of the bitcoin price bubble has been $400k and that was based on the previous performances, the way adoption has been growing, the institutional investment growth and the positive change in many countries' stance towards bitcoin.
but if i were to factor in the devaluation of US dollar as outlined by this article then $400k seems like a small rise and we may even end up seeing a much higher value even higher than $500k that the article suggests. specially if a global bitcoin panic buy starts. keep in mind that 6 digits price for something scarce that keeps growing will change the minds of millions of individuals who have been ignoring bitcoin all this time despite its growth so far.
dare i mention $1 million for this cycle?

nonetheless i am sure this cycle's major bull run will be the most interesting so far.
My fingers are crossed and I hoping it truly is an interesting cycle in a positive way. Depending on how long 'this' cycle lasts Fidelity predicted 1M by 2029  Wink

Sure doesn't hurt my head either that they are predicting a $1M price point by 2029  Cool

Asset Giant Fidelity Analyzes Model That Forecasts Bitcoin Rise to $1,000,000
https://dailyhodl.com/2020/08/25/asset-giant-fidelity-analyzes-model-that-forecasts-bitcoin-rise-to-1000000/

Quote
A recent report from Fidelity Digital Assets analyzes the stock-to-flow ratio, which divides the amount of a commodity in circulation by the amount mined per year.

Using the correlation between an asset’s price and its S2F ratio, the pseudonymous crypto analyst PlanB has predicted that Bitcoin’s value will soar to $1 million by 2029.
77  Bitcoin / Bitcoin Discussion / Barriers preventing you from using bitcoin today/advantages of using bitcoin? on: August 28, 2020, 01:10:53 PM
There was some excellent points/discussion on my recent Poll: when will cryptocurrency go mainstream?. I actually didn't vote myself until I reviewed a number of the responses Shocked 

Mostly the answered varied from 'already' to 'never' based on personal interpretation of what 'mainstream' means.  If I was a pollster I would have failed for providing such an open ended question, but for the sake of bitcointalk discussion, it actually was quite interesting to see everyone's thoughts. Thank you for your participation so far...the poll isn't closed yet so get out and vote!Wink

Anyway, the responses made me think hard about what I considered 'mainstream' myself. Sure if mainstream meant world wide name recognition then bitcoin has long passed that threshold, but for me it is about usage as a replacement for fiat money.  I believe that was Satoshi's ultimate dream not simply a household name or even a digital gold replacement.

Personally, there are *many* barriers remaining before I will use bitcoin over my credit card and even a few significant barriers where I would use it over say cash (I never use a debit/check card myself). 

I would like like to hear from bitcointalk members about what barriers YOU believe are preventing you from using bitcoin today.

My personal top reasons that doesn't even get to the technical issues involved:

#1 barrier in the USA is the tax treatment of bitcoin  Personally, there is no way I would want to track every micro purchase to complicate my tax return!
Quote
Because bitcoins are being treated as assets, if you use bitcoins for simple transactions, such as buying groceries at a supermarket, you will incur a capital gains tax (either long-term or short-term depending on how long you held the bitcoins).
https://www.investopedia.com/articles/investing/040515/are-there-taxes-bitcoins.asp

#2 I make money by using my Credit Card today Again, Personally, I like CC which is easy to use for purchasing and with autopay I don't even need to think about it after I make the purchase. Plus I get a rebate $ back and an extra month earning a whopping 0.0001% interest  Wink  Even eliminating all of the technical barriers so that bitcoin was as easy as a CC swipe and universally accepted like VISA (better than a Discover card please Wink ) it still would be like me using a debit/check card which I never do today.

I realize these are my top personal reasons, but there are a lot of other potential advantages that others might enjoy.

I would be interested in hearing about what you perceive is the advantages of paying with bitcoin (or name your fav crypto if different)

To get the ball rolling let me provide some benefits cited in an article, but hopefully we can collectively come up with even better ones:

Quote
1. User Autonomy
The primary draw of bitcoin for many users, and indeed one of the central tenets of cryptocurrencies more generally, is autonomy. Digital currencies allow users more autonomy over their own money than fiat currencies do, at least in theory. Users are able to control how they spend their money without dealing with an intermediary authority like a bank or government.

2. Discretion
Bitcoin purchases are discrete. Unless a user voluntarily publishes his Bitcoin transactions, his purchases are never associated with his personal identity, much like cash-only purchases, and cannot easily be traced back to him. In fact, the anonymous bitcoin address that is generated for user purchases changes with each transaction. This is not to say that bitcoin transactions are truly anonymous or entirely untraceable, but they are much less readily linked to personal identity than some traditional forms of payment.

3. Peer-to-Peer Focus
The bitcoin payment system is purely peer-to-peer, meaning that users are able to send and receive payments to or from anyone on the network around the world without requiring approval from any external source or authority.

4. Elimination of Banking Fees
While it is considered standard among cryptocurrency exchanges to charge so-called "maker" and "taker" fees, as well as occasional deposit and withdrawal fees, bitcoin users are not subject to the litany of traditional banking fees associated with fiat currencies. This means no account maintenance or minimum balance fees, no overdraft charges and no returned deposit fees, among many others.

5. Very Low Transaction Fees for International Payments
Standard wire transfers and foreign purchases typically involve fees and exchange costs. Since bitcoin transactions have no intermediary institutions or government involvement, the costs of transacting are kept very low. This can be a major advantage for travelers. Additionally, any transfer in bitcoins happens very quickly, eliminating the inconvenience of typical authorization requirements and wait periods.

6. Mobile Payments
Like with many online payment systems, bitcoin users can pay for their coins anywhere they have Internet access. This means that purchasers never have to travel to a bank or a store to buy a product. However, unlike online payments made with U.S. bank accounts or credit cards, personal information is not necessary to complete any transaction.

7. Accessibility
Because users are able to send and receive bitcoins with only a smartphone or computer, bitcoin is theoretically available to populations of users without access to traditional banking systems, credit cards and other methods of payment.
Source: What Are the Advantages of Paying With Bitcoin?

What do you think?
78  Bitcoin / Bitcoin Discussion / Re: Poll: when will cryptocurrency go mainstream? on: August 28, 2020, 10:44:07 AM
Awareness is ever growing. That doesn't mean it's mainstream.

I will start to think it's mainstream when it's available on all the usual platforms people are familiar with and when people use it either without knowing they're using it, or not remarking on it as anything unusual.

I think it's going to be far beyond 2025 before it reaches that point.
I personally agree with your perspective, but it all comes down to what each person consider 'mainstream' and even the country they live in. In the USA bitcoin is well known, but not widely enough used or owned to meet my definition. In hindsight, I should have included 2030 and maybe even 2040 as poll options, but at this point it is too late since votes have already been cast.
79  Other / Meta / Re: Bitcointalk Merit Dashboard on: August 28, 2020, 01:32:07 AM
DdmrDdmr    -> Legendary from Old Era Newbie during Merit System kick-off.
Congrats on becoming legendary!
OMG this is an incredible amount of work...you deserve to be legendary!  congrats DdmrDdmr!
80  Bitcoin / Bitcoin Discussion / Re: I gathered every Satoshi Nakamoto thread. on: August 27, 2020, 05:38:38 PM
( I'm sure you had help running some sort of script or something that I sure as hell don't understand, but still very impressive).

Nope. Pure hand  Grin

(I was going on every page of those 1300 and Ctrl+F "satoshi")
well done, impressive effort!...combine your efforts collecting discussions on Satoshi with satoshinakamoto.me's collection of Satoshi's own posts and that should cover it all  Wink

http://satoshinakamoto.me/source/bitcoin-talk/?order=asc
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