LOL  , it is kind of funny as karma has hit back them hard. I discourage this action, but deep inside me, it gives me some kind of satisfaction after what they have done to the Bitcoin blockchain. So you think ordinals.com is to blame to ...what did they do to the blockchain? Also, how is ordinals.com and not ordiscan.com or ord.io fault? Do you think ordinals are run by some centralized entity or something? Maybe it was also karma when the US sized mixers you know how many tractions are mixer making on the blockchain? Oh, we should ddos also binance and maybe stake also and bc.game on top of that since they use the blockchain! Probably it would be best for those to ddos bitcointalk also that all those signatures payments stop rising the fees on the blockchain for guys that want to just buy a coffee! See how this works? What they could gain from DDoS attack? if they didn't hack the smart contract they won't able to access the tokens and make money from it.
I think everyone started their assumption from their hate against ordinals! What makes everyone so sure it's an attack because somebody doesn't like ordinals and not an attack by a group who is in competition with that website? So not an ordinals hater but more like a ordinals minter that wants a bigger pie of the ordinals minting share and inscription traffic? |
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You don't like the government, you're free to go Come on, man. Seriously, that is your counter argument? Here are a few reasons why you are not as free to go as you are in Bitcoin: ~ Yeah , I'm dead serious. You're ignoring the first issue in this, and the whole decentralization no central node no central entity mirage! The main problem is not how problematic is to get out, but how easy is to change that so you don't have to pack your bags and do it! We're talking about a system, actually you brought this up, and made it sound like in a decentralized world your opinion and your voting power means more than in an election...which we don't have! So sell your hoard and get other coin cause it's so simple to do it just sounds ...like raising a middle finger! The only obstacle, as I perceive it, is the limited number of merchants accepting them.
Limited? Lol!No, the limit is not the number of merchants cause there are millions accepting Bitcoin but the limit itself is that there are no clients for it. My family shop accepts both visa and cash, do I have 1 million clients as how how many card owners are in the city? No! And speaking of number of people using it:  How does it feel competing with litecoin, as with dogecoin there is no comparison anymore? And the other coins, like solana and polygon are out of these league and in one of their own and despite the millions of tx processed somehow, they still work and nobody is crying about spending $200 on a ssd! People treat Bitcoin as a store of value. A conservative, capped, deflationary, boring, quiescent store of value. The rules are long set. There is no way you find universal consensus on the ideal block size limit. I myself believe that the limit should rise a little bit, but if to accomplish that I'll have to risk losing the aforementioned invaluable properties, then hell no. We shall improve scalability only on second layers, and if that isn't enough, then our next best course to an electronic peer-to-peer cash is a reputable altcoin like Monero, where change is more socially acceptable on a basis level.
Why don't you actually say what you think? We shouldn't try to fix this as it's going to ruin our golden goose and everyone is comfortable with the $ rather than the utility! That...till the nokia shares start to slump. Oh , my bad, satoshi price!  Just be honest with it, you care more about the value than the utility and that is. Lol, do you think I mine for securing the network or other unicorn ideals? We need to accept that we can't expect BTC to
1- Make us ultra-rich, allow us to transact for dirt-cheap, stay as secure, not to be regulated, and cure cancer. That's just too much to ask and seems like we want everything!
Yeah, spot-on! This is what actually matters for most, right? So why fix something when we don't need and it might ruin the most important thing we expect Bitcoin to do for us! Brings us more $$$$$$$! Meanwhile:  Anyone here remember how this was suppose to kill Visa, PayPal and WU? |
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So you're telling me that if: - we have 1 million miners mining solo each one with an S19 at 100th - we add another billion solo miners each with an S19 at 100th The hashrate and the difficulty won't change?  That's right. They're mining competitively, so their blocks will never have more work than what can be done by a single S19 at 100 th/s, and they'll be wasting like 99.9000999999% of the total energy they consume (1 winner / (1,001,000,000-1) miners for each block). If they were mining cooperatively, in a pool, there would be no waste. They would consume the same energy, but their work would sum and the hash rate and block difficulty would be insanely high. But their shares of the block rewards would be so small, they would have to mine for a long time just to earn enough coin to get a minimum payout from the pool. You really need to go back and learn how things work in mining. Based on your stupid assumption it would mean that no matter how many pools we have here, if only 100 people connect to each one for them, the hashrate will not be higher than what those 100 people have , despite being millions of such pools. Same for larger pools, if Foundry has only 100 exahash, the rest of the hashrate is wasted since it doesn't contribute to the block, right? Anyhow if math and logic is not enough for you to understand this, then simple, explain this: https://btc.com/stats/diffso explain how despite no pool available till nov 2010 the hashrate grew like that! |
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You know, depending on how you look at it and how biased you are , one might think of this like:
Do you really want to let people chose again what they want, like in a 4 years cycle elections? Depending on how you look at it, exactly. In my opinion, Bitcoin is more important than elections in democratic systems. If Bitcoin was democratic, we'd not only have to agree to a particular set of rules but also be forced to use what the majority deems as right. "Screw majority", says bitcoin. You can opt-out anytime you want, and join another community, which is more oriented to your perspective on how the network should operate. The people do choose what they want, just not in the manner of traditional elections. It surpasses that system. Unlike in elections where a government mandates voting for one of the presented options and obliges compliance with the outcome, Bitcoin allows greater individual autonomy. Nope, no difference. It's the same in a country with free election and especially in one not locked like NK! You don't like the government, you're free to go, sell your house (coins) move to a different country (blockchain), buy a house and get job there (use a different coins and a different blockchain). See how easy it is? Just how you tell people that don't like the fees and speed of BTC to use BSV somebody seeing you angry at your government could tell you to pack your bags and go to **** Somalia if you don't like the policies! And no it's not superior because in a normal country you can elect the government every 4 years, good luck trying to that with Foundry or Mara and the lead developers, put it simply in Bitcoin you have the freedom of packing your bags and go away if you don't want to obey the rules but no chance of you and your finds even with a majority managing to change them Yeah, hard to swallow pill, but think about it twice, it's the actual reality! The current fees aren't as high as many believe them to be.
The quote on mempool is also misleading, that is for one tx with 1 input one output, after juggling for almost 6 months with coin control, most of the actual users are out of options, there are moment when you need to increase the number of inputs, and from $6 that might turn to $20. Also, despite 4 blocks in a row in 10 minutes, we're still at 142sat/vb, and I just got a refusal to relay a tx due to low fee at 21sat/vb...  |
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I can only hope they're realize that now, and didn't take a 2 week Christmas vacation.
It's working again, or at least it was working yesterday I managed to push 2 tx and to my surprise there were still empty spaces minutes after the hours, enough time for me being lazy to grab my phone and do screenshots on it rather than printscreens  I still think it's a mix of situations - viabtc blocking maybe free transactions if they haven't mined a block in x hours - somebody clearly abusing the free feature This is the block viabtc mined after me failing two times in a row to even see the free counter: https://mempool.space/block/00000000000000000000a7f3dd29bb0c0259a2b6cdbe4d400a1960d829018127It has 300kvb of 5sat/b tx , ironically, that contained viabtc payments, so I can't really be angry while getting paid and denied a cheaper fee but those ordinals... |
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And do you think that channel/node managers, if they can earn $1/transaction, will keep $0.05?  You can have thousands of channels, without a doubt, but everyone will seek to obtain the greatest profitability from having equipment connected 24 hours a day to keep the channels open. In addition to the obligation to keep Bitcoin staked in these channels. This is here the free market comes truly into play! With mining there is limited space, you need to compete with the others for this, and only one entity gets a timeslot, it's like an auction for a newly found van Gogh, with LN is like your superstore or your airliner, you can choose the one doing it cheaper, and there will always be somebody who is happy with 99 cents rather than $1 and someone who thinks well 5 cents is good enough for basically doing nothing. Besides, you're going to have an ally in websites and exchanges, they will be willing to pay for the extra hardware with minimal consumption and the fee to open a few channels when they can cut on paid fees. Rembert that although exchnges charge for withdrawals, they also have costs when collecting your free deposits, and this is what hurts them as they have to move hundreds of inputs also. If 1 million users want to set-up channels there is nothing stopping them and you have 1 million channels with 0.0001 fees, if they choose to mine, they will still get 144 blocks a day just as we are now. |
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12 tries to get it to work. it is a timing issue. not too soon and not too late. you are likely a fraction to slow when you click it. What timing did you use that worked? I've tried starting at 0:00:00 (maybe 0.2 seconds after the whole hour), I've tried submitting clicking captcha at that point. None of it works, it takes about 10 seconds for the page to load, it's probably heavily overloaded by bots at that time. I just tried again: at a fraction of a second I clicked "FREE Submission", I beat 88% of the users with the captcha, but I was too late. You're right on the situation now, probably between my last tries and yours the bot activated, maybe also Philip managed to getting an interval where the bot wasn't active or so. After failing 4 times I just gave up and put my browser on recording with a refresh rate, I'm on fiber, with an extremely low latency, the page loads in 1 second, so I only managed with it refreshing at 59:59, 00:00:01, 00:00:02 to catch a glimpse at 5 free once. What's even more interesting is that the number of so called accelerate tractions increased by 11 in the meantime, really weird since a long time ago they were only moving this when the block was mined, I really need to wait for a few more hours and check it again to see what's really happening but I'm starting to think Viabtc is no longer truly offering 100 tx per hour |
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Me and difficulty adjustments. I should really quit, I've won 6 times at Kempton today on horses but this adjustments..  The difficulty adjustment is coming in 24 hours and the current pace is 5.4%, that means 95 extra blocks have been mined compared to normal, a thing that might change to less blocks mined next period, meaning less capacity, which you guess it, means higher fees! Turn out my prediction as completely off the mark, pace is just as fast: Current Pace: 105.2454% (512 / 486.48 expected, 25.52 ahead) so it means we had -on average extra 5% capacity -weekend + two Christmas holiday days and yet the fees hold high and hover from 60 to 100 sat/vb, also the distance to 10sat/vb is still the same , 213vMB as I type, almost no changes, so guess this was the last chance to see fees in the 20sat/vb, I doubt new years eve will be able to do something either, despite following the same weekend pattern. Wanna repeat the era that gave birth to every failed fork of Bitcoin? I would rather not.
You know, depending on how you look at it and how biased you are , one might think of this like: Do you really want to let people chose again what they want, like in a 4 years cycle elections? |
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The idea is as follows: Ensure a percentage of space in the blocks so that older transactions, regardless of the fee amount, can be processed.
I'll try to explain. Imagine that 10% of the block is allocated to process transactions that are over 48 hours old, regardless of the fee used. Similar to the current process, transactions still enter a queue, arranged from the highest to the lowest fee. However, an additional element is introduced to create the queue: the transaction date. In this way, if a transaction is not processed after 48 hours, it enters the queue based on its release date. From that point onward, the blockchain will process the oldest transaction first, regardless of the fee.
It has been proposed a numerous of times, the end result will be the same, it allows spammers to spam cheaper. Instead of flooding the mempool with 30-50 sat/b they now know for sure that for a fraction of that cost 1sat/b they are going to clog 10% of the block space, so in the end you will end up with worse results. It costs around $4 for a 10kvb tx, so with $40 a block one spammer could just make this 1sat/vb impossible, so you will select only 2sat/kvb then 5sat/kvb then the order book for the old tx part will look the same as the normal book since a competition will happen there too, you just start with a different first attribute but in the end the fee will dictate this also. Furthermore, with just 90% of the block left for people wanting to get a quick confirmation the rate race will intensify and the fees will spike even higher. The problem is not order is capacity. You have 2 liters of water/s pouring in a 1 ton tank and only 1 liter/s coming out, the tank will inevitable flood. What you propose is to change that for 900ml/s and a 100ml/s way out of the tank, situated at different levels, the inevitable will still happen, the only difference is just that different molecules of waters (see them as tx) will get out before the tank floods. |
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Hello everyone sorry for the strange question,we are a couple of friends wondering what would have been the best mining pc obtainable back in 2008 in order to gain the best performance in mining bitcoints from the beginnin in jan 2009 and for the next following 3 years.We appreciate anyone who will help us in finding out what is the answer to our question and we wish merry christmas to everyone!thanks
It's actually a tricky question, you could go for this list: https://en.bitcoin.it/wiki/Non-specialized_hardware_comparisonRemember it's not just hashes per second but also price per hash, so best is not always the fastest. That aside getting the best CPU would actually be less of an advantage than being the first one to write the code to mine with a gpu! |
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In cryptocurrency you must pass digital units, cluttering the blockchain.
~
The technology we stand upon is a network of keypairs.
What is that exactly?
With a private key you sign to prove ownership.
With a public key your signature can be proven.
The selling entity knows how many units of the digital asset a signer holds and can determine whether to purchase more or sell some of their own holdings to balance all signed purchases at once.
This simplifies accounting to the lowest number of steps possible and eliminates redundant transaction fees that would otherwise be required when passing digital assets as currency in each purchase.
So, your solution, unlike Bitcoin relies on: - private keys - verifiable transactions by anyone, like nodes - a ledger of the amounts behind that key, aka the blockchain What a breakthrough! How do you conclude that transacting in bitcoin is easier and faster than using a credit card?
Can you just imagine the lines at the malls if everybody had to wait for Bitcoin transactions to complete?
LN! I bought paid a parking attendant with cash today. Took about 5 seconds--I handed him a five dollar bill. Meanwhile, the average Bitcoin transaction takes... how long again?  I tried purchasing something with cash from a street shop in the resort a week ago, I only had a 100 euro bill, the guy just opened and didn't have change, he went to the next guy brought some 5 euro bills the he realized he didn't had the other 90 in small bills either only 50s, luckily my wife had some coins in he purse and after 5 minutes we finally got our gluhwein which we could have paid for in 1 sec via LN or a cc. No, cash is a pain in the ass and inefficient as hell! |
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Now this one is weird, I know it's just one day and a half but: Current Pace: 109.5857% (245 / 223.57 expected, 21.43 ahead)
Previous Retarget: Yesterday at 8:01 AM (+6.9834%) 21 blocks ahead is just too much for just luck after a 6.9%, something big turned on in the middle of the last period and this is probably the effect of the adjustment not really matching the growth and a ton of luck on top of it, blockchair says 164 blocks in the last 24h, a full 20 blocks variance is, ....too much to just call it variance. That again, who is pushing gear online during the holiday? Rethorical question: Hive got 7,000 Bitmain S21 Antminer
Cipher Mining revealed its acquisition of 7.1 exahash per second (EH/s) from Bitmain
Riot Secures 66,560 Microbt ASIC Miners to Boost Hashrate by 18 EH/s
Bitcoin Miner DMG Acquires 4,550 T21 Antminers for $12.1 Million These are all at most one week old PR. Which reminds me of U.S money is just crazy, it is hard to understand.
Yup, and this is just one tiny fraction on what those guys can throw at something, the amount of wealth waiting on the sideline to bet on every possible opportunity is just mind blowing. If it weren't for the halving I would say zettahash incoming! |
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I just criticize this idea of justifying the increase in fees, just because of the reduction in the block reward.
Hihi, just to make sure! I'm not saying fees are justifiable at this moment, nor am I saying one must pay high fees! What's I'm trying to highlight here is that things cost money, and unless you pay, you don't get squat! Some might get used to this hidden subsidy in issued coins that helps the security and will help it for a few more halving ignoring that nothing is free, once this subsidy goes away...time to pay! So just as some ignore basic and say torrents are free they forget someone is paying for the website, some are paying for seedboxes , some are payign for the actual game and movie to crack it, and so on, Bitcoin being far larger on a complete different scale, you need $. And if 1000 guys paying 10$ is not enough, the only option is....100 000 guys paying 2$. But, cough , cough, roger ver...big blockers...bsv... What I defend is that the network has to create a mechanism to make room for all types of transactions, regardless of the rate used.
Be ready to first defend yourself from incoming pitchforks, these are dangerous ideas, see above! But what stops a large investor today from buying Bitmine, Antpool, Via BTC or F2Pool?
Nobody! Thinking about this possibility - unlikely, in my opinion - don't these companies have too much power?
Yeah, so , what can one do about it? Nationalize them? Ban them? Freedom is always a double edge sword, when you have a permissionless blockchain that means, well...it is what it is. You want a decentralized censorship resistant network but you want a body that governs it and regulate it ? Of course not! Bitcoin is a tool, when used correctly it works flawlessly, the problem just like with cars or guns is with the one using it, and we humans have a habit of screwing around. |
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I can't even use ViaBTC anymore: they're instantly full every hour, and I don't even get to see a number larger than 0 anymore.
You have to skip hitting refresh at xx:00. The moment your clock (assuming laptop or desktop here) shows 1 second you hit free submission. That's the way I managed to accelerate like 4 tx Monday to Wednesday, 10 seconds later there was no free spot left! What's really annoying is that Viabtc right now helps even with ordinals inscriptions, this guy is taking advantage of this and I assume he is using a bot for it, 30 confirms in one go is impossible for a human: https://ordiscan.com/address/bc1q7357af8tkcttej0cqmqzvhfja9ey63pzpd74qr/activity |
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Dead topic but I got nowhere to ask, do wirex card still work in Europe?
Physical cards not virtual ones,
They work for paying directly with the physical card in a shop, not the whole curve thing they used as a roundabout trick previously, don't know if it works for an ATM, not enough funds for such a thing. Worth mentioning, it was around the 10th this month so...who knows! Go to discord better, they have a few mods there that can answer more accurately! I have an older not-yet-expired Wirex card and I can tell that there's no easy answer to any of your questions.
My card didn't work exactly in the days I've needed it. But at some point I've made another test and then it worked.
You still have funds there? I got 75$ because I was in rush and the guy had only altcoins, I didn't have any altcoin wallet so I opened the wirex account and told him the deposit address but otherwise there is only a ton of dust there and of course their native tokens which I can't use unless I buy first a ton of them, it was something like 300 euros needed or around that number! Fees are insane now hardly worth using them now seem to have lost any edge cash in cash out still works which is good but dam they sting you on fees when you withdraw anything now.
I never understood why would anyone use Wirex to cash out sums. Just go for Bitstamp or Kraken or even Binance, Wirex is becoming garbage! |
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5,000*104 sats = 520,000 sats to inscribe a 20kb kitty into the BTC blockchain.
My final question: who the heck is flooding the network with ordinals when it is so freaking expensive to do that? What part am I missing or not understanding?
Remember cryptokitties? Somebody paid 225 ETH (at that time $100k) now $400k for a cat that is now.worthless! Same for the ape NFT, 819 ETH at that time around 3 million! A guy spend 2 million in a mobile game in 4 years Logan Paul paid 5 million for a pokemon card. Somebody paid $100k for card with Mark Zuckerberg. We are 8 billion on this damn planet and we have trillions in out pockets put together, $200 is nothing, that sum will be nearly invisible if you look at what thrash the worlds throw money at! Speaking of thrash, here is a 1800 bag: |
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I see the difference, but I also see that on this basis of reasoning, in 50 years, to move 1BTC I will have to spend 1BTC in fees. That doesn't make any sense.
You will pay as much as you like and as much as it's needed! The assumption in all this scenario is that we need to pay x$ (in $ since electricity and machines are purchased with $) in fees to keep the same level of protection we have now. Nobody will force anyone to pay more just because the coin is more expensive, you don't pay your accountant 40 times more because your Tesla shares have gone from $10 to $400 and you don't pay a jeweler 1 million to clean your wedding ring just because gold is more expensive. People will pay as much as they like, just like donating to an NGO, what happens when the NGO is out of funds? We do not have anyone external capable of attacking the network,
Depends what you mean by external... Actually for someone with enough funds and a clear scope, it's doable, especially a US based entity. Price per th/s is $20 but that's small customer prices, make it $15 for large orders and it's $15 million for exahash, so 7.5 billion to get the gear! But, you could at any time just purchase a whole company so suddenly instead of needing to buy 500 exahash you just need to buy 50exahash with that company and an extra of just 400 now. Not to mention that during all this time you still make money, plus, you could cripple the network even with 10%, you go all utopian and claim you only include low fees tx that users submit to you pool directly and you fake them all, dropping the network capacity by 10% while still earning blocks rewards. It's all a matter of money, and there are entities out there for which 5-10 billion is still not that out of reach. Just the US classified budged is 10x times more, besides, if they felt like BTC would be a threat they would seize all of Foundry and Mara , kill all nodes on cloud services like Hetzner and Google and others and by the time we wake up we wouldn't even know what hit us! But fortunately, nobody is planning such a thing and I don't see them doing it anyhow! A coin who is barely managing to fight some jpg monkeys is a bit hard to picture as a threat to national security! because who'll bear the high transaction fees, seller or buyer?
The seller always takes a hit from high fees: - the customer is forced to actually pay more to get the merchandise, since he obviously cares that he has to pay $20 in fees and $40 for the products, so he ends up with less customers - the seller himself pays fees because he receives the coins from the buyers in multiple outputs though the day, so despite him getting 20x $40 payments in full he will need to pay god knows what maybe even $100 to actually use that $800 when he plans on spending the coins. |
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I see we're currently back up to almost 100 sat/byte. Boo, who is minting shittokens on Christmas Eve? Santa has gone all NFT! It was wooden horses, tamagotchi, fortnite skins now it's Bitcoin ordinals! A rather interesting thing, although we have a bit lower fees (ignoring that as I type it's 132sat/vb for the next block since we had 2 blocks in 75 minutes!!!!) the overall mempool over 10sat/vb has kept growing from 203vMb to 214vMB. So there is a rush of consolidations happening! That aside of elf crafting sexy reindeer ordinals. It's still ok though. I pay wire with my bank many issues:
- fill in long form because foreign guy
- Friday send only process Monday. Monday process only arrive Thursday (3 work days + timezone)
- 3% flat fee
- bank rate forex bad
So yes even in high fee, I love sending BTC.
Since you mentioned forex I assume this is an international wire, so yeah this is where Bitcoins till beats banks, but for internal transfers, no , it has been left in the dust, I have instant transactions on all major 7 banks, 24/7 here. And when it comes to remittance, it's not banks and WU BTC needs to compete, it's Revolut and the others. LE 2 blocks in 75 minutes, 7 blocks in 3 hours, somebody has been naughty!!! |
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This does not make any sense at all, and I doubt that Biden would actually dare to do this. This is an event that will ignite the entire world.
Which world? North Korea , Iran and Syria? Oh, the US is trembling in fear! You know how much money has already been confiscated and used for Ukraine help by countries who are barely the size of a US state and Russia didnothign but babbling like madman knowing they can't do a thing? Think for a moment, you have a bully beating up a smaller kid, taking his backpack and when another bigger bully comes and takes the bully phone that guy starts screaming for the world police!! Laughable, right? First, Russia can confiscate the assets for the United States and its allies.
Yeah, they already did nationalize what they can, the only difference is that - no sane people store assets in Russia's bank - even russian allies store they financial assets in Eu and US banks as they know their current banking system sucks! What is certain and we can analyze these days is the dedollarisation.
Still chewing khat all day to feed your delusions? How's that inflation in Iran doing? |
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I continue to say that this type of reasoning makes no sense.
Yes it does pretty much you just need to look at a broader pictures. Bitcoin is worth 1000x more than it was 10 years ago, and what you earn in BTC from mining is less than half. Mining continues to be profitable, because the value of Bitcoin is also rising. The mining cost did not increase by 50% due to the 50% reward reduction. Therefore, you may earn less BTC, but you will earn more, because the value of Bitcoin is much higher. First you ignored this thing, Remember than in the scenario where fees would need to compensate for the block reward disappearing
So the value of BTC would be irrelevant, it's the tx value that matters, and no people scared of 100sat/vb are not scared of the satoshis they have to pay they are scared that means 10$, you could have to pay only 10sat/b for a tx, if that makes $50 good luck with it. You need to keep fees high in $ value too! Now to explain the till then scenario, in which you claim the increase in price will keep the network just as secure. We will ignore of course the x1000 claim, as you know pretty well that this will not happen again and let's instead make with the doubling every period which would mean in 10 years we see 3 of them, so 80,160,320 and the CM at 12 trillion. Ok, the increase in block reward has managed to keep the same miners mining even with the halving's but, and this is the important thing - you till have the same 10 billion in equipment guarding not $800 billions but $12 trillions! You see the difference? Nobody is going to spend that to attack a network that is barely the yearly US defense budget (and this including satoshi coins in valuation), but make it the GDP of China and US combined and suddenly 1 billion in equipment to ruin world finances seems attractive for some! |
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