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7361  Economy / Economics / Re: Inflation and Security on: May 23, 2021, 12:56:29 PM
Is it a Ponzi scheme or an experiment? It can't be both.

When investors lose money then they call it the Ponzi scheme, and when they profit from it then it is an "interesting money experiment".



Critics argue that energy usage is wasteful. The existing system is way more efficient.

They are not critics in the literal sense of the word, they are opponents of any new technology that does not allow them at the top of the pyramid to continue to control everything around them. Let's say Bitcoin is completely switched to renewable energy sources and this is factually proven, does anyone think that these so-called critics would suddenly change their minds? The existing system will always be more efficient, or in other words more acceptable - the decentralization provided by Bitcoin is diametrically opposed to the current system, and will therefore always be criticized regardless of any aspect that could change for the better.
7362  Bitcoin / Wallet software / Re: Bitcoin wallet on: May 23, 2021, 10:59:16 AM
I guess you want a multicurrency crypto wallet, and I can recommend you try out what I’ve personally used so far. As for free options, I tried Coinomi which turned out to be quite a solid crypto wallet (I used the desktop version), and Trust wallet for Android, for which I also have no objections for now.

When it comes to hardware wallets, I am a longtime user of Ledger (both S&X models) and have no major complaints about what the devices provide - except that Ledger has seriously damaged its reputation by allowing its user data to be hacked. Trezor is definitely a good alternative, although they also have some of their flaws (the seed can be easily hacked from the device if it is not protected with a passphrase - requires physical access).

As for desktop/mobile crypto wallets, be always careful not to download the fake version - when using search engine always turn on ad blocker (I recommend uBlock Origin).
7363  Other / Beginners & Help / Re: Which transfer fee to pick? on: May 23, 2021, 10:30:46 AM
12sats per byte is way much too less charge to get confirmed even after waiting in the transaction for a whole day. Its still most likely not to be confirmed. The mempool at the moment is very congested and only waiting it out to get confirmed, booming the fees or using the services of a bitcoin accelerator.

Where did you get 12 sats when the OP paid 20 sat/byte? It is also not true that the mempool was congested at the time you wrote the post, because the 20 sat/byte transactions were about 6 MB from the tip, and this morning they were already entering the next block because the mempool was pretty empty.

In any case the OP transaction was 100% confirmed without having to increase the fee or use any other methods.
7364  Bitcoin / Press / Re: [2021-05-22] Hong Kong to restrict crypto exchanges to professional investors on: May 23, 2021, 10:08:09 AM
I speculate that for the regulators to regulate, monitor and limit financial crimes made through the cryptospace, other countries will copy the Chinese model. The Biden administration also appears to be preparing for this.

So isn't the Chinese model completely undemocratic and against human rights? I don’t see the West copying China in anything, especially in such insane methods that can only be implemented in countries like China, Russia, or perhaps India where brute force is still a method of keeping people in fear, and elections are just a false illusion of democracy.

In addition, criminal activities in the crypto world make up perhaps 1% of total world crime - does anyone have an excuse to implement communist methods to prevent this? I don't believe that Biden has in focus cryptocurrency at the moment, there are a lot more important things to deal with - but even if something is going to be done in that direction, I don't believe that anyone with a little common sense will copy the Chinese model.
7365  Local / Hrvatski (Croatian) / Re: Načini povlačenja, pretvaranja bitcoina u HRK on: May 22, 2021, 03:25:44 PM
Nije li Binance sjedište na Kajmanskim otocima?

Njihovo sjediste je izgleda tamo gdje im se nalazi CEO, a gdje su zapravo usidreni tesko je reci. Prica se svasta, cesto se spominje Malta, iskreno prvi put cujem da netko spominje Kajmanske otoke. Vidi sto im sef CZ kaze na tu temu prosle godine :

“Well, I think what this is is the beauty of the blockchain, right, so you don’t have to … like where’s the Bitcoin office, because Bitcoin doesn’t have an office,” he said.

Sto se tice Contis, to je servis koji izdaje kartice za Binance  - ne mogu reci imaju li oni tvoje podatke, ali moguce je da ih Binance mora podjeliti sa njima da bi ti Contis izdao karticu.

The Binance Swipe account and Visa debit card are e-money services provided by Contis Financial Services Ltd. Your distributor may transfer funds from a wallet you hold directly with them to cover the value of transactions you make using your Visa card.

24. What will happen to my personal information?

We are the controller of your personal data which we will use in order to open, administer and run your account. You hereby consent to us accessing, processing, and retaining any information you provide to us, for the purposes of providing payment services to you. For further information about how we will use your personal data, please view our Privacy Policy. You may withdraw your consent to the use of this data by closing your account.
7366  Other / Meta / Re: Troll and Fudder jail on: May 22, 2021, 03:09:29 PM
Given the level of freedom of expression in this forum, I think that such a thing has no chance, because it would definitely be understood as censorship. There will always be trolls and those who spread FUD, but I think they are also an integral part of what makes the forum a place where opinions are discussed and exchanged.

Those who are active on the forum on a daily basis could certainly list at least 5 members who fall into these categories, but they will also tell you that there is an "ignore" option that anyone can use as needed. Also spam is something that is moderated and from my experience most reported posts are quickly deleted.

As for trolls, for example, I would suggest that their posts be visible, but in a way that is difficult to read - perhaps by changing a color or font that would be difficult to read on a white surface.
7367  Economy / Service Discussion / Re: What's your favorite way to earn Cryptos? on: May 22, 2021, 02:49:11 PM
certainly not faucets nowadays.

Partly true, it all depends on how you look at it - whether you're a regular user who can't make $1 a day, a faucet owner who knows what he's doing, or a regular user who has a lot of active referrals and makes passive earnings. I have always looked at every way of earning cryptocurrencies as a long-term investment, which proved to be a winning combination even when I started collecting on faucets in 2014 - I know that 1000 Doge was worth about $0.14, and everything that has survived since then is worth even x100 more. Collect today, spend in the future is not a bad strategy if there is no other way.



Back then, airdrop, faucet, and affiliation might consider as a good way to earn Bitcoin for free but for now, I don't see that's still effective since you almost spend most of your time before you will earn a tiny fraction of Bitcoin which not worth with your precious time.

Just a few good referrals on a crypto exchange can result in decent passive earnings - one should not underestimate this way of earning, because all new users entering the world of crypto have to buy it somewhere - 20% lifetime commission does not seem bad to me personally. If you believe in crypto, in 4-5 years what is a trifle today can be worth x50 or X100 more - I will gladly spend 1 hour a day on something like that, which is certainly better than watching TV or playing games.
7368  Economy / Scam Accusations / Re: elon- fake giveaway on: May 22, 2021, 01:21:09 PM
I'm trying to find how to report this website to it's domain registrar, but it seems I'm lost in translation. So the next big thing to do is to report it to Google: https://safebrowsing.google.com/safebrowsing/report_phish/?hl=en. It will just take less than 2 minutes of our time.

I suggested it too, but when I visited that site yesterday the controversial content was replaced with content on biology and nature. Someone is obviously using tactics to change the content of the site to avoid any sanctions - we just need to see if elon scam will reappear.


https://archive.vn/FCip6
7369  Economy / Speculation / Re: Bitcoin continues dumping even MicroStrategy purchased additional Bitcoin. on: May 22, 2021, 12:50:05 PM
First time I see a negative effect in Bitcoin after accumulating by institutional investors. Is there something else reason behind of recent dump?

I would say that the reason is that people value EM and Tesla far more than is the case with MicroStrategy - so even though this is the company that threw literally all the cards at BTC, the average Joe (especially the one outside the US) is not even aware that that company exists, so such good news is literally lost in everything that is bad - and the fact is that the media always emphasizes bad news because that is what people are interested in after all.

Also, the human mind takes small numbers literally as such, so 229 BTC is not something that would cause a positive wave - regardless of the fact that it is a larger amount of money. We seem to have reached a stage where it doesn’t matter how much someone bought, but who bought it - imagine the effect of someone posting the news that Amazon only bought 100 BTC - I guarantee a 10-15% jump in a couple of hours.
7370  Economy / Speculation / Re: MELTDOWN - if you don't sell now, YOU WILL LOSE MOST OF YOUR FUNDS!!! on: May 22, 2021, 10:56:11 AM
Here is a hot tip for you - sell now and buy back below $10,000. What do you guys think?
You can thank me later!!

Says a man who woke up from hibernation in January 2021 and immediately claimed that bear market is started Huh

The bear market has just started, and the next real test going down will be what happens when it goes below $20,000.

You were only wrong in that the price of BTC has reached as much as $65 000 since then - and therefore your advice is not something that anyone should take seriously. What will happen if someone listens to you, and in a month or two the price is above $50 000 again?
7371  Bitcoin / Press / Re: [2021-05-22] Hong Kong to restrict crypto exchanges to professional investors on: May 22, 2021, 10:26:31 AM
What's new in China or HK? Well, we all know that China wants to completely control HK in all possible ways, and if they want to kick crypto exchange companies out of that region, this is definitely a move that allows them to do so. However, I do not believe that their moves have any impact on other markets in Asia, and especially in Europe, which is light years away when it comes to human rights and freedoms.

After all, this is just a proposal that has already been opposed by many who are in any way connected with this sector - and it will all come down to how powerful China is to put its ideas into action.
7372  Other / Beginners & Help / Re: Bitcoin Historical Corrections - Don't worry on: May 22, 2021, 10:08:21 AM
Of course there have been a lot of corrections throughout the very short history of BTC, but hardly anything can calm people who are losing their money - because something they bought for $50k or maybe even over $60k is now not worth even $40k. But it is always a problem with those who cannot see the bigger picture and in a panic cause financial losses to themselves, while the same people always get richer and richer.

If we consider that 2017 is a similar year to 2021 (both come after halving), then it is interesting to see all the corrections we had in 2017. In May 2017, in just 3 days, the price dropped by 33%, and in June even more (39%). September and November brought two more corrections (40% & 30%), followed by a big pump towards $20k.


I would not say that people should not worry, but I would advise them not to invest in something they do not understand, and I would dare to say that at least 80% of those who invest in BTC are not even aware of what it is about.
7373  Economy / Speculation / Re: Winter is here.... on: May 21, 2021, 12:58:53 PM
Yes, a winter of 2-3 years is coming...

Of course winter is coming, we have 4 seasons in the Northern Hemisphere and winter is one of them - but winter always comes after autumn, not before summer. Consequently, announcing a crypto winter just because we had a big price correction is completely wrong, since until a few days ago we talked about how the bull run will continue in the second part of the year and that it could have its peak in Q4.

It's amazing how easy it is to manipulate people and convince them that they will lose their money if they don't sell - and all those who have sold and failed to buy have already been manipulated. Yes, winter is coming - but only in the minds of those who blindly believe the garbage that is served to them every day through mainstream media and social networks - so prepare your virtual snow shovels to try to dig yourself out of all that garbage that will fall on you.
7374  Bitcoin / Bitcoin Discussion / Re: This is what Elon truly did, you have to know it! on: May 21, 2021, 11:11:23 AM
In overall, you all gifted $100 to Elon Musk. That's all!

I didn't play his game, so it's wrong to say that everyone gave him $100 - smart people invest when the price drops and sell when the price is at its peak - and it's a different matter that the market is full of those who don't understand the basics, and want to profit from cryptocurrency trading. The market is relentless, and people like EM doesn't care if he makes money by taking $1 million from a rich man's account, or taking the same amount from 1000 people to whom that money really means a lot.

Until people realize that EM is not their friend, that they should not listen to the mainstream media, and that politicians are the worst product of human society - they will always be manipulated, and for that they will thank the one who took their money, dignity and finally the right to a dignified life.
7375  Bitcoin / Hardware wallets / Re: Electrum wallet cannot pair with trezor on: May 21, 2021, 10:46:42 AM
From what I've read, this is not a new problem, users have been reporting it for years - and since I'm not a Trezor user, I'll post a few links that might be helpful.

https://www.reddit.com/r/Electrum/comments/ajo6f0/electrum_trezor_error/
https://github.com/spesmilo/electrum/issues/2698
https://github.com/spesmilo/electrum/issues/2100



Not just with multiple hardware wallets, issues with Electrum occur if you try to switch between different wallets (Ledger bitcoin accounts). If I use my Ledger together with wallet1 on Electrum, I can't simply click on File > Open in Electrum and open up Wallet2 for example. There is always an error about the device not being recognized.

To open a new wallet without any restarts you simply need to exit the BTC app on Ledger and select it again - then you can open another wallet - at least that's how it works for me.
7376  Other / Beginners & Help / Re: Merit is not for free. on: May 21, 2021, 10:22:31 AM
Why do the forum need merit to grow? In the bottom I see
Quote
Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines
Did the forum not grow in 2006 - 2009?

Those who have been members of the forum for a little longer (say at least 5 years), know well what the merit is for. The forum simply became a place where anyone could reach any rank regardless of the quality of their posts, and spam literally overwhelmed the entire forum. The Merit system has prevented new hordes of spammers from advancing in the system, so we can say that quality has come to the surface and dirt has sunk to the bottom.

The forum didn't even exist in 2006, what you're looking at is just an echo of the past that still lingers on the forum, until we finally get a new and more modern forum. See for more information -> https://en.wikipedia.org/wiki/Simple_Machines_Forum
7377  Other / Meta / Re: This thing with the accounts' farming has to stop... on: May 21, 2021, 10:04:34 AM
Is there a lot of account farming these days or is it just me? It gets annoying, because once I read the replies of a post I immediately realize that the original poster is a liar.

Since we have a merit system, I think that such activity has decreased, but it will never disappear - because activity + 1 merit allows everyone to be a Jr. Member, and such accounts are very popular for bounty campaigns. In a particular thread it seems as if someone has decided to activate all their alt accounts, maybe just to collect activity or catch a few merits - I think the whole thread could very easily be moved in the off-topic that someone reported it as a low value topic.

Is there an actual bitcointalk account marketplace? How can this be really profitable for someone? I wouldn't pay more than two cents satoshis for such account.

Of course there is, you just need to look to Invites & Accounts, and you will always find a few users selling BTT accounts, after all this is not forbidden by the forum rules. Still, I don’t think anyone sells Newbie accounts, because anyone can make them themselves as much as they want.
7378  Economy / Speculation / Re: What Effects Did the Tether Reserves Breakdown Have on Bitcoin and The Market? on: May 21, 2021, 09:38:36 AM
In short, USDT reserves can't be trusted and I would advice the stablecoin users to shift to more reliable coins such as USDC.

I would not advise anyone to use something that is completely centralized to the extent that it can be frozen at any time, even if it is in a non-custodial wallet. I don't want to repeat myself, but the idea of stablecoin is based on someone's promise that something is as he says - and what kind of cryptocurrency is that, what are the mechanisms for protecting its users?

For all those who are wondering how safe their funds are when they transfer them to stablecoins, I suggest you read this thread - posted by @mk4.

PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets
7379  Economy / Services / Re: Free BTC transaction accelerator! on: May 21, 2021, 09:24:13 AM
Never mind. The transaction was confirmed Smiley

I successfully added your transaction to the accelerator, I just wasn't online - you can see that the transaction was confirmed in the block found by the ViaBTC pool.


https://www.blockchain.com/btc/block/684368
7380  Economy / Speculation / Re: What Effects Did the Tether Reserves Breakdown Have on Bitcoin and The Market? on: May 20, 2021, 02:31:39 PM
~snip~
What is your opinion on this?
Is Tether cancer we have to get rid of for bitcoin and the crypto market to have a prosperous future?
How big of an impact do you think this Tether disclosure had on the recent downtrend of bitcoin and the whole market?

The news that only about 70% of what they released is really backed up with fiat is old news, this was discussed back in 2017, and then something like that was confirmed in 2019 Tether Says Its USDT Stablecoin May Not Be Backed By Fiat Alone. The whole thing has been very clear about this for years, but has it influenced people to stop using this stable coin? Well, of course not, because all that matters to them is that they can make fast and cheap transactions, everything else is less important. So I think this news has almost no impact on what happened yesterday.

In the long run, I think that USDT is certainly a risk, as most stablecoins are actually in the gray zone, which allows their owners to print the quantities they need at some point - of course without covering with anything. Bitcoin is based on POW (Proof of work), and stablecoins on POFP (Proof of false promises) - and that's a huge difference.
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