|
As someone who keeps believing in a shortening 4 year cycles theory I have to say that by mid 2025 there is a good chance we are going to see price surpass $1 million and give a new meaning to the word bubble. Then after the bubble burst we will be back to $1 million and start building up towards the next target in 2029 while a million a bitcoin becomes like a norm just like how silly it sounds like when saying a bitcoin was worth $1 at some point and people didn't believe it can get there!
|
|
|
|
|
Someone's butt seems to be hurtin'
|
|
|
|
Coin
• A coin is a digital currency similar to the physical currency.
• Coins are purely used as a source of payment
• Examples: Ethereum, Ripple
Even though both of these shitcoin are considered "coins" but 2 out of 3 definitions you gave aren't true about them. Neither are used for payment and they have no similarity to "physical currency" at all. Ethereum is more of a "fuel" so it is more similar to tokens than coins since it is meant to be only used to fuel smart contracts. Ripple is also a useless centralized pump and dump scheme made by the banksters to see if they can come up with a competition with bitcoin and has failed so most of their bankster support abandoned it. |
|
|
|
I think this is the wrong argument to make here. Even if it would require a hard fork, such a hard fork is not impossible. If in 100 years bitcoin is being used around the world and is worth $10 million per coin, then we can't have the scenario of the smallest spendable amount being ~$20, and so a hard fork to add more decimals may well take place. Further, Lightning network already goes to 11 decimal places and milli-satoshi, so already provides a 1000x increase in divisibility over the main chain. However, neither of these things change the fact that there a finite number of bitcoin which can ever exist.
Well OP wasn't arguing about what may or may not happen in the future but what is true right now (which obviously is false). As for Lightning Network, what the second layer does is not going to change the bitcoin protocol. So bitcoin is still not divisible to any smaller units than a satoshi. Another second layer could give you 1 bitcoin for every 2 bitcoin you lock in a channel and that still wouldn't change anything about bitcoin protocol. |
|
|
|
Should I change it to ASCII? Because it returns me the correct hash with UTF8.
Why would you? Your string is not using UT8 or ASCII or Unicode or ... It is using hexadecimal encoding and System.Text.Encoding doesn't have a Hex/Base16 encoder class so you can't use it at all. |
|
|
|
We have proven that not only can the network be upgraded, but it can be done in a clear, orderly, quick fashion!
To be fair we had proven this half a dozen times (maybe more) before the 2017 fork when each upgrade went through smoothly and without any drama or at least very little. BIP16, BIP34, BIP65, BIP66, BIP112 are some of these soft forks that I can think of. so because taproot devs are not playing these flip flop false promise backstabbing games this year. they are not getting any drama towards taproot
Wrong. The lack of "drama" is simply because unlike 2017 there is nothing to be gained from that drama. For example there is no shitcoin like bcash to be created to make money. |
|
|
|
SHA256 takes a bytes array, not a byte. I'm not sure what exactly does that line do, but Visual Studio returns me that you can't convert from 'System.Collections.Generic.IEnumerable<byte>' to 'byte[]'.
Simply call the .ToArray() method on the IEnumerable and you'll get the array!! IEnumerable objects are simply arrays that don't yet exist so they don't take up any memory but the code knows how to produce each element so you can "enumerate" them. Calling .ToArray() would do that and you'll get the whole array inside your memory. I'll let you figure out your mistake in code below: byte[] sourceBytes = Encoding.UTF8.GetBytes(compPubKeyHex);
|
|
|
|
because it’s part of the 4 year cycle. I mean really?
Speaking of the 4 year cycle lets take a look at the previous one compared to the current one in a chart I made a couple of days ago. It uses the ATH to ATH as its period and shows percentage drop and rise:  It would be very interesting to see the 4 year cycle is broken when the first 3 years were pretty much the same. With the market falling everytime Elon Musk tweets something negative about BTC?
The market isn't "falling every time" he tweets. It fell only once then there was a downward trend of panic sellers. Nowadays whenever he makes a negative tweet it only excites a handful of idiots and the market as a whole remains uninterested otherwise price wouldn't have stayed within the same 5% range! |
|
|
|
Gold and Bitcoin share many of the same properties of sound money.
No they don't. Gold hasn't been considered "money" for hundreds of years. If we consider gold ETFs as a "layer 2" solution for gold, then this solves most of these issues and there's not much reason why Bitcoin is significantly better than gold as a store of value.
Bitcoin is decentralized, censorship resistant, secure, fast and global. Gold is none of these things and its ETFs are going to be even more centralized. There's a lot of hype about how Bitcoin is going to save the world from currency devaluation and the endless money printing from governments.
No it is not and nobody ever said such a thing. You won't find a single line in bitcoin's paper or in Satoshi's posts that suggests that. If someone was telling otherwise they were lying. The corrupted centralized monetary system is not going to change any time soon, at least not in our lifetimes. Bitcoin offers an exit that all people are free to choose and some do. Do you feel Bitcoin is overhyped?
Bitcoin is not even hyped to be overhyped. Majority of the world are either unaware of what bitcoin is or are ignoring it. |
|
|
|
|
I'm not sure if using the term "Legal tender" makes any difference legally but with a search about the definition it seems like other countries have already done it if not using this term exactly. For example Japan back in 2017 accepted bitcoin as a "currency" which you can use in payments which seems to be the same definition as "legal tender", isn't it?
|
|
|
|
For example: If you and me discuss about a specific block (or a specific block happening like Halving) than it is clear for all readers if a post is made before or after the block that we discuss about.
It is already clear enough since the user who is interested in that kind of relationship can simply look up the timestamp of blocks using a block explorer for example and then figure out which block height corresponds to the post. Considering that this would be a rare occasion it doesn't justify the addition burden that it puts on bitcointalk servers and the additional storage space it requires in the database. |
|
|
|
The thing is Bitcoin is infinitely divisible, it can go as small as it needs to go, you can own 0.1% or 0.0000000000001% or even less...
No it is not. To divide the smallest unit (1 Satoshi) into smaller parts you would have to change the consensus rules using a hard fork.In simple terms you can send 0 satoshi, you can send 1 satoshi but you can't send 0.1 or 1.1 satoshis. By strict rules the amount field of each transaction is of a 64-bit integer type and the values it can contain is between 0 and 2100000000000000 (21 million bitcoin in satoshis). If you want to divide this to smaller values you'll have to first convince the entire bitcoin network to accept a hard fork where it changes this field into another integer type that supports smaller units and allows values outside of the mentioned range. Not to mention that in math 1 = 1.0 = 1.00 = 1.000 = ... P.S. It is "bitcoin" not "BitCoin". |
|
|
|
As long as we don't know for sure how those exchanges and chain analysis companies working with them track transactions and based on what the flag addresses as suspicious, we can't tell how much "ricochet" is going to be effective.
In fact, it can even be counterproductive as it may raise suspicions if the ricochet transactions have been made in a short span of time.
The point is to provide "plausible deniability". For example if a grocery store has some marked bills from a bank robbery in their cash register they can plausibly deny being involved in the robbery since they are just receiving the cash. Even with one "hop" you can claim that you never mixed your coins or used a gambling site and claim you received the coins for any other reason. However, I doubt exchanges will suspend all accounts that can be linked to tainted coins unless the deposited amount is really big or one of its addresses is directly involved in illegal activities.
The problem here is the number of people who mix their coins. It is a small percentage of the exchange users so the exchange can easily target those few while the majority of the remaining users remain unaffected. |
|
|
|
The problem is that I haven't found a way to do that in C#, but only as a text. (using SHA256.Create().ComputeHash(bytes))
It is a very simple matter of an additional step. You simply convert your hex to bytes then use those bytes in SHA256. Converting hex to bytes is very easy too, here is a one line code using LINQ Enumerable.Range(0, hex.Length/2).Select(x => Convert.ToByte(hex.Substring(x * 2, 2), 16));
Usually libraries have some sort of encoder that can convert between different encodings and byte[]. |
|
|
|
By the way the news was the opposite meaning you can't spend bitcoins mined inside Iran for anything other than import/export.
Wrong. Here is the article reporting that any bitcoin mined abroad is not allowed to be used in Iran for anything including trading, and they are actually selling most of the coins mined in Iran to avoid restrictions related to sanctions. Iran also banned usage of Bitcoin for payment, they are seizing ''illicit'' Bitcoin mining machines all the time, and they banned mining during summer time. https://www.coindesk.com/iran-central-bank-ban-trading-crypto-mined-abroadThat link only shows 5 idiots guessing about something they don't even understand! If you read in the link Persian that the article included in first paragraph it doesn't even mention anything about a "ban". Actually here is a better link. There are 2 things here. 1. The central bank (which has nothing to do with the "law" and "bans") is warning people to be careful when it comes to cryptocurrencies due to their volatile nature and also not to get scammed. 2. It is saying that the government, banks, etc. can only use bitcoin's mined inside country for imports which is to prevent the government for example using a foreign exchange to swap USD for BTC then use BTC for import which would make no sense. It has no restrictions on what people do. And again the Parliament (Majles) has to pass the law. Central bank or even the government making statements don't make them into "law". |
|
|
|
there might be no need for altcoins at all.
Will Bitcoin render other altcoins "obsolete" in the long term?
I disagree with the statement which is why my answer to your question is no. First we have to distinguish between altcoins and shitcoins. When you see coins that are very similar to bitcoin and have copied bitcoin with all its shortcomings you know that they are "shitcoins" not "altcoins" (aka alternative cryptocurrencies). They are already obsolete because they are useless even though their prices may be high or have a market cap that is closest to bitcoin's. A real alternative cryptocurrency with real innovations and improvements will never be obsolete. If the developers stop caring about making themselves millionaires in shortest time and start innovating the same way Satoshi did, we will see a cryptocurrency that could actually compete with bitcoin. But I don't think this is going to happen for at least another decade. |
|
|
|
If you search for it, you'll realize that there isn't a standard definition for the “global adoption”. Bitcoiners tend to use it in their sentences as a way to describe Bitcoin's adoption by everyone on every part of the planet, hence “global”. You are overthinking everything these days. Reaching "global adoption" which I prefer calling "mass adoption" simply means at least some people from any part of the world have adopted bitcoin. Not just in one country or a handful of countries like the developed countries while the rest remain unaware of bitcoin. Sad truth, but Bitcoin can't have a global adoption same like computers or internet had decades ago and I state this from an economic aspect.
Both have "global adoption" just at different levels depending on the location. For example you can find computers and internet in Africa the same way you can find it in America. The more users this thing has, the more the speculation.
Actually the more users means more stability because if we get more speculators who do day trading the market gets more packed and the order books aren't so thin so that one or two whales could dump into to crash the price that easily. The effects of both manipulation and panic sells decrease. Early adopters/investors get the chance to be included in the peak of the pyramid and earn more long-term.
You don't "earn" anything by being early. You just increase your purchasing power as the deflationary currency you own gains more value. ~ that the majority sees it as an investment.
You can't claim to know what the majority sees and your reference can't be the vocal people on the internet who keep posting about price and bitcoin as an investment. For all you know the "majority" who see bitcoin as a currency don't like screaming about it on the internet. (In the system below, 100 fresh bitcoins are brought into circulation every day.)
Let's assume that once upon a time, on an island, there were 100 people with 100 mushrooms in total and each one of them had 10 bitcoins, willing to use it as a currency. This means that each mushroom costs 10 BTC since there are 1000 BTC in total. But, hey, the next day, there are 1000 newcomers bringing 1000 mushrooms and they are also willing to use Bitcoin as a currency. But, unfortunately, there are only 1100 bitcoins in circulation which means that each mushroom now costs 1.1 BTC. Same thing would happen if that little community gained 10,000 new mushroom-farmers the next day. Every mushroom would cost 0.12 BTC. Well in real world (after reaching mass adoption) the equilibrium doesn't just break that easily, specially not by 1000%. The new adopters coming in or new coins being created won't be enough to disrupt it. |
|
|
|
Miners or at least most of them do not use computers (CPUs) to mine anymore, they rather use GPUs or ASICs.
Bitcoin miners can only use the special machines called ASICs (Application Specific Integrated Circuit) to mine bitcoin and nothing else since anything else including a big GPU rig can not produce nearly enough hashrate compare to an ASIC. Altcoin miners on the other hand can use either CPU or GPU or ASIC to mine their altcoin depending on what the coin is. |
|
|
|
There is also one of the theymos posts which address the the use of Monero as a means of mixing method which can be used. You are very right because this will be a more comfortable method that can be used to mix Bitcoin effectively. But I am finding out if it is possible to make use of Bitcoin directly without converting it to any other coin. Using another coin like XMR is for improving your privacy not removing taint because when you change that coin back to bitcoin you don't know what kind of "coin" you are receiving, it may have more taint than your original "coins". BTW I don't see anything special in "ricochet" to force you to use a certain wallet that has it. You can do it on your own using a custom variable interval. You just have to waste some precious satoshis on fees. |
|
|
|
Wallets such as Wasabi and Electrum are already complicated if you compare them with Exodus. This complexity tops everything.
I don't use Wasabi but Electrum is the simplest wallet that exists while being feature rich for advanced users. It starts getting complicated when you start accessing those "advanced" features such as setting/changing the fee, paying multiple addresses, coin control, LN,... otherwise it is just paste address and enter amount and click send. BTW a closed source wallet like Exodus doesn't top anything. |
|
|
|
|
Show Posts
