Seems we get a post like this weekly. I remember reading about a similar block last week. I looked up the block Height and looked at the time and it was very close to the prior block.

This happens from time to time and it’s because it takes time to process the transactions and since they found the block already they can’t send new work to the pool because the nonce would be different so they send the empty block.

It’s interesting but I won’t use it like others stated here for privacy reasons.

However I am pretty sure that many of the sats out there most likely had some type of Silk Road origins. The amount of bitcoins that went thru Silk Road in those days is huge and even with those confiscated by the government many of them out there has some connection to Silk Road transactions one way or another.

Yeah this is the only block halving that I wasn’t around for. Imagine being a GPU miner back in those days and solving an actual block which was over 50 BTC at the time, crazy.

It’s actually so rare these days to get someone to spend a coinbase transaction from the initial block size of 50BTC. I am guessing most of those are already spent or the coins are long time lost.

They eventually submitted this form a few hours later after we heard this news. Now it seems they are all on track to all be approved or rejected in January.

There is also some comment form that is opened and the public can view their opinions. Whether this will actually make a difference is another thing. But the SEC has to do it anyways as a formality.

I have never set any difficulty for pools in the past. I know many pools have this option but it’s pointless since all pools usually automatically adjust for the most optimal difficulty.

Usually 1 share per minute. If you haven’t sent a share in a while they will lower the difficult and if you send too many shares they will raise it.

They don’t want too many shares because it would clog the pool and make it slower.

Only other thing you can do really is buy WBTC and just used some L2 like Arbitrum. Fees are extremely cheap and many exchanges support WBTC.

However keep in mind WBTC is somewhat centralized because if the holder company turns out to be a fraud then you will lose your BTC. But if you do it once in a while you should be fine.

Buy WBTC weekly, withdraw and after 10 weeks send it back to exchange and convert to BTC and then withdraw that BTC to the actual bitcoin blockchain.

I’ve been following the thread on his Twitter and about 20 people all asked what software he used to make the wallet or how did he actually create his wallet and he never replied.

So who knows what is going on. Why won’t he answer the question. Currently he is talking with Antpool and perhaps they will be kind and refund the high fee, usually when this happens they are honest and return the funds.

The reason why your transactions take 2-3 hours is because you didn't use the best fee to get your transaction included on the next block, if you did the average transaction time would be around 10 minutes. Its actually even less right now since the difficulty is going up, so average transaction time is maybe 9 minutes or so.

Will this get reduced in the near future? Most likely not. It would mean a bitcoin hardfork which nobody will agree too. If we made 1 minute block times the blockchain size would be way too large and would result in less nodes which is not what we want for decentralization.

Many people like me adjusted during the 2017 cycle pretty much when we had crazy fees. I just don't do any micro transactions anymore. I moved onto ETH but then the same thing happened on ETH and then I just started to use L2.

When I make a large purpose than paying a $2 fee on Bitcoin blockchain is not that bad. The issue is when you make daily transactions like that which can add up quick. Basically for daily transactions you need to use some form of L2. Either lightning network or some L2 chains like Polygon/Arbitium. I think many will just need to adapt to this. You don't see anyone on the bitcoin chain doing transactions for less than $100 these days.

There are different ways to describe liquidity. One way is there are liquid assets and illiquid assets. Basically stocks and cash are liquid assets because you can sell those quickly. What is not a liquid asset is stuff like real estate.

When it comes to crypto it matters how much liquidity there is. Usually on weekends there is less liquidity and more wicks. Same with low cap altcoins. That is why it’s easier for price to move on those pairs compared to say BTC or ETH.

I don’t think demo accounts are good for new traders. It seems strange but you will lose less money if you just start trading with real money than demo money.

People on demo got no emotions and can easily turn $1000 into $1M with minimal effort. These people then just assume they are geniuses and borrow a large sim of money and start to trade big. Then they discover it’s not as easy as they assumed and run into huge losses. Hence why it’s better to just trade with small positions like trading Pennies because you will get some emotions and trade for like in real life.

Yeah I’ve been a miner also in the past and what you experienced basically happened to many miners in the past. Miners should just mine and nothing else.

Many tried to trade and they lost all their mined profits. And some even tried the crypto casinos and also lost it all on dice. It’s because mining doesn’t really pay as much as trading or gambling and why many get greedy and went up going bust.

They should just let him go back. I highly doubt that he is a flight risk. Look what happened with Arthur Hayes. He just got probation or house arrest if I recall.

SBF is in jail because he stole billions, CZ never stole anything. I don’t even think he will even go to jail most likely banned from trading or running any crypto exchanges.

Ok I am following the thread on twitter from the guy who sent the large fee. He says that he was creating a new cold storage address and as soon as he moved his funds to this address it was sent elsewhere. He doesn’t know why it has the large fee.

Many asked him what software he used but he didn’t reply yet. I am guessing it’s some fake wallet because there have been no other reports of users getting funds stolen. Also it’s a buggy fake wallet because it didn’t work properly because a lot of the bitcoin moved was just the fee.

There is a statue of Satoshi somewhere in Budapest and it’s basically a mirrored statue so when you look at it you see yourself. Because you are Satoshi, we are all satoshi pretty much.

It’s a currency created by the people, Mined by the people and spent by the people. Hence why his disappearance is very important.

So that’s why you can’t say Bitcoin is the same as Ethereum where the founder is known. Hence it is faceless.

Well what is the point of the central bank now that their currency is useless. You keep the central bank and they issue new notes, most likely the same inflation problem will happen.

They are better off just using the US dollar or the Euro, and stay out of their own currencies. Many of their citizens stopped using their currency long ago as it was way too unstable.

I think this investigation was ongoing for a while. I don’t know what the 4 fingers meant when he was holding it up but some are speculating it’s the $4B he will owe to the government.

The writing was on the wall when Binance all of a sudden started to lose banking partners for deposits and withdraws. Then the entire issue with the stable coin. And eventually all the problems that happened at Binance US.

We all knew something was up but didn’t think it would be this.

I think it was some weird bug where if he used the api, it fetched the wrong fee. Or maybe he was doing the transactions manually and got a few decimal places mixed up.

I guess this is why you should always look over the confirmation before hitting send. Make sure it goes to the right address along with the right amount to send along with the fee. Pretty sure normal software clients can’t make a fee that high manually.

Governments have been against crypto since the Ftx collapse because those that lost funds complained to the government and they basically needed to take some action.

Notice how none of this was an issue prior to Ftx. Then as soon as it collapsed everything changed and we had exchanges getting sued and massive crypto regulations.

Some think it’s a good thing because it paves the way for the etf however which could be true. Binance was just too big and why they went after it.

Another reason why this is happening is because people no longer trust CEX after FTX scandal. The chart shows the illiquid supply greater than 1 year and you can see it went up because last November people withdrew all their coins from exchanges and put them in self custody.

Even if you weren’t part of FTX, the fear would of caused you anyways to self custody and get a hardware wallet. So this chart is not surprising. It will be more interesting what happens when price goes higher and if the supply will drop.