SOL is just broke $100

Right before the Ftx collapse it was like $30.

Seems that they technically should be solvent by now, especially since most of the SOL is locked and they haven’t sold all of it.

Last week they sold like $1B worth of BTC. And the claims market is I think almost 70%. So if we are patient we might get back 100% however it will be in fiat terms not in crypto terms.

You can’t arbitrage anymore in 2023, you could in 2015 if you had some decent programming skills but in 2023 you are up against many fast bots and firms which have tons and tons of money and experience compared to you.

Sometimes you might get lucky with some low liquidity coin or on some dex, but you will be working for peanuts pretty much. This is no different than arbitrating on stocks. Same thing. Most professionals do it and there if no arb left for you.

I think since 2018 it’s been difficult using a credit card to actually buy crypto. There are 2 reasons for this.

First is that a credit card is very easy to reverse. So it’s a risk for the exchange because they sell you the coins and you withdraw and then they reverse the transaction.

Second is that even if the exchange allows it, most likely your credit card provider will reject the transaction because it’s coming from a bitcoin exchange. This has been around since 2018 or so.

Try and fund with a bank transfer if you can instead.

I am still confused. Can someone explain like I am 5.

Why is the blockchain so full right now. If people are paying $500 for a transaction to confirm they obviously want to make a profit of more than $500. How do they do this?

Is minting like mining the ordinal tokens? If I mint ORDI can I sell it if I get the block successfully mined? This is the part I don’t understand yet.

Yes this is similar to how people were buying dogecoin like crazy because they assumed it could go to $1 or even $10. However they had no idea how high the supply is and not only that, it’s miner supply was also high.

If it reached $1 and all miners sold, then they would need like $250M a month worth of buys so the coin would stay in the same price. It wasn’t possible. Hence why it had a huge crash and it’s the same with BTT, the price is low but the supply is extremely high.

Yeah I remember how the year ended last year after Ftx went belly up. It was brutal. So many people had funds stuck on that exchange. So many people trusted SBF for some reason. For some it was that he drove the Toyota and said that he will donate all his money. Many fell for his lies.

Even those who didn’t have any funds on his exchange were hurt due to the horrible crypto prices at the time. Look at SOL price or BTC last year. It looked like we would crash below the $15k and head down to 4 digit bitcoins.

The last 24 hours and prior have been brutal. If you were patient and used a fee of 175sat/byte then you might of got a block confirmed but it’s expensive and very long. If you needed it filled right away depending on the time you might of had to pay up to 500sat/byte. Even using a large fee of 250sat/byte would take a few hours. It’s getting pretty crazy out there.

And those transactions accelerators are all quickly filled up. Seconds after the hour starts. A week ago you could of easily got a few blocks in but now it seems impossible. I think with the Christmas break maybe we will see lower fees.

Besides his old email address holding some value,  because it was once owned by a famous person, there really isn't anything to gain when you got access to his emails.

He was very privacy oriented, I don't think he would leave any clues or private keys in his emails. Those in my opinion I think were long purged when the account went inactive after 5-10 years of satoshi never logging in.

Most likely that email address gets nothing but scams or people begging for bitcoin. I am sure every day there are people emailing Satoshi and asking him to spare a bitcoin or two. Its not really worth anything however.

I looked into this and see why it didnt fill yet even at 1000 sat/btye. The issue is there are 5 unconfirmed parents.

The total size of all 5 transactions are 22119 btyes. So if you combine all the fees in total 0.01684 BTC. It works out to 76 sats/byte.

So maybe all these will confirm on the weekend. Most likely there will be little activity during Christmas and should confirm then.

So did you buy the domain name or was the entire site and all the emails and everything for sale?

From what I understand he didn’t use his email address and it was reregisteted by someone else. And bitcointalk admin had to freeze satoshis account because that user could easily reset the password and pretend to be satoshi.

However when the user made a new account, he most likely didn’t get access to satoshis emails prior to the account being reregistered.

So I don’t think there is anything of value there. 

At the moment we all have this problem. I think today you needed at least 200 sat/byte and you would get the transaction approved in 12 hours or so. It’s crazy.

My advice just convert to another coin and withdraw that way. Or buy some stablecoin like tether and withdrew on ARB or Poly which is the l2 for Ethereum. Fees are very low for those networks compared to ETH or BTC.

Rumors are circulating that it will be approved before Jan 10th or so. I don’t think it will be approved in December unless it’s actually approved tomorrow, I don’t even think it would get approved on a Friday because it’s right before the holidays.

And usually nothing gets done between the week of Christmas and New Years. Markets are flat, because people are with family.

So if it doesn’t get approved tomorrow then most likely Jan 10Th or so.

Yeah I noticed its a very high fee, however I think its because there are unconfirmed parents, as BestChange said there are 4 other unconfirmed transactions. I think the easiest way to deal with this would be to just make the payments monthly instead of weekly until this congestion goes away.

However not everyone would agree to this so maybe there should be a vote. If the majority agree then perhaps make it biweekly or monthly payment frequencies.

Honestly in 60 days it can either go to $31K if the etfs are rejected or it can go to $50K if they are approved. It’s hard what will happen in the short term though.

During the NY session we got tons and tons of etf news and yesterday we had that bitcoin etf commercial. So it’s hard to be bearish at this time. However you know how it is. All it takes is a rejection of the etf, mt gox coins moving, ust moving, etc and the trend can change.

They actually were discussing this like 5 years ago. But instead of water it was coffee. They want bitcoin to be used to be able to buy a cup of coffee. And you basically can’t do that with the main net. Even if fees were low, you would still have to wait 10-30 mins for confirmation.

That’s why all these layer 2 solutions are happening. Basically keep a small amount of bitcoin in a l2 and you can spend all you want with little or no fees. When you are done, just bridge back.

Well you left out work, so the way you can make money is by working and use that to buy crypto.

Long time ago you could get free sats just by going to a few dice casinos. Some gave like 1000 sats and if you got lucky you could make the min withdraw of 0.001 sats. However due to abuse they shut this down.

You could also make money mining if you had a GPU. Ethereum was very profitable for years. However it went POS and now there is no money in GPU mining pretty much.

Hence why you should just work.

Yeah I was watching the market yesterday and it looked like we would break the $40K support and head down there as many stops get hit. However it actually reversed.

Today we had lots of positive news with the etfs and we rallied all the way to $43.5k. So completely unexpected turn off events. Would of assume we would touch $40K and reverse but looks like it was front run.

I think like 10 years ago or so I joined a prop firm. They had some crappy ad while driving one day and I decided to try it out.

Was a disaster. Basically when you were new, your losses were capped. So unless you knew what you were doing at the beginning you would never make any decent money.

Also the rest of the group had no idea what they were doing either. I don’t think anyone there was a successful trader.

A year later I think the place just shut down.

I remember in 2019 or 2020 or so when Ethereum NFTs were introduced. And we were getting some crappy jpeg sell for like $10K. Back then i assumed it has to be money laundering because it made no sense.

Then a year or so later, some of these jpegs were going for millions. Was it laundering? Maybe for some but it turned into speculation pretty much. People flipping NFTs left and right. And the same thing is happening here. They are buying it to sell it for a higher price in the future.

Yeah the amount you send has nothing to do with the fee.

You can send a million dollars using 1 input and your fee could be $10

Or you can send $100 using 100 inputs and your fee would be like $500 or so.

Right now it doesn’t make sense to send small amounts. Try and use a different alt if you need to send someone small amounts. The fees will eat you alive.