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May 30, 2024, 11:56:44 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
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1  Bitcoin / Bitcoin Discussion / Re: When is it right to invest in Bitcoin? on: May 17, 2024, 08:13:22 PM
people think it's too complicated when they want to invest in bitcoin,

Well to store bitcoin the right way and learn everything that you should learn before purchasing the first time is quiete complicated to be honest.
2  Bitcoin / Bitcoin Discussion / Re: Have you stopped using bitcoin for small transactions completely ? on: April 18, 2024, 06:52:54 PM
You can send transactions for a very low fee if time is not an issue. Just reserach how to set a specific sat amount for the fee.
Still this is not how it should be, but at this point I think Bitcoin has forever lost its ability to be usable for small transactions.
3  Bitcoin / Bitcoin Discussion / Re: What is a best way of taking advantage of BTC dips when away? on: April 08, 2024, 10:10:35 AM
The best way is to DCA and thats it.
4  Bitcoin / Bitcoin Discussion / Re: 4 Years ago people laughed at me bcz of THIS on: March 16, 2024, 08:19:40 AM
Yes Bitcoin price went up after Coronavirus.
No Coronavirus was not created by Bitcoin whales.
People still laugh about you in this moment because of this stupid assumption.
5  Bitcoin / Development & Technical Discussion / Re: Unique serial number for every single satoshi on: March 10, 2024, 05:34:56 PM
What is not practical for them however is the fact that Bitcoin will be more and more inaccessible to new people, since the cost of sending bitcoins will simply be to high for a usually small first investment. But yes it is not surprising that also the Bitcoin community will at some point drown in their greed and there will be a new innovation that will flush Bitcoin away.
As they say at some point you will become your own evil if you are drunk enough in your success.
6  Bitcoin / Bitcoin Discussion / Re: Mempool Observer Topic on: March 02, 2024, 09:25:37 AM
How long would it take to confirm a 1 sat/vB transaction?

24+ hours? Has anyone tried it for consolidation?

I tried a 1 sat/vB consolidation as an experiment a month or so ago using a pruned node just to see if it will work and how long it would take.
Blockchain explorers still show it as unconfirmed. My node is still running. The transaction is composed of more than 50+ dust UTXOs Grin
Do unconfirmed month old transactions still get confirmed if ever fees get low enough a month after? Or is a rebroadcast needed?

It depends on the wallet software. I have tried something similar with blue wallet and every time the transaction was dropped from the mempool it was instantly resubmitted automatically. Eventually after 6 month it was confirmed when there was a timeframe where fees went to 1 sat/vByte.

So you can simply try it and wait for it to get confirmed. Just check that it is not thrown out of the mempool and if it is just resubmit it.
7  Bitcoin / Bitcoin Discussion / Re: Mempool Observer Topic on: February 28, 2024, 05:52:54 PM
How long would it take to confirm a 1 sat/vB transaction?

24+ hours? Has anyone tried it for consolidation?

It will not work at this moment, the transaction will stay in the mempool unconfirmed. It will be thrown out after around 2 weeks and never be confirmed.
Right now you will need at least 6 sat/vB.
8  Bitcoin / Bitcoin Discussion / Re: Gary Gensler: "Bitcoin is not that decentralized" on: February 20, 2024, 08:36:06 PM
This SEC employee is very wrong in my eyes since he does not understand bitcoin correctly. Bitcoin is not dependent on any kind of exchange or other institution. The users can go to another exchange in a matter of hours if one exchange would abuse their power. This is different in the fiat banking system. If you understand that you will understand why Bitcoin is decentralised and fiat is not.
9  Bitcoin / Bitcoin Discussion / Re: Lost Bitcoin on: February 19, 2024, 04:48:50 PM
Lost coins in theory are like a donation to the other bitcoin holders, but since nobody knows what coins are lost I think there is not rally a impact at this moment. The only coins that are really lost are OP_Return coins that were burned.
People for example always claim that around 1 million satoshi coins are lost. However you can never be sure of those coins would at one point move again and suddenly be sold. So I think because of this risk those "lost" coins are not really a push for the price.
10  Bitcoin / Hardware wallets / Re: Coldcar on: February 19, 2024, 04:45:47 PM
But their main (signing) purpose can't and shouldn't simply stop working all of a sudden.

Thanks for clarifying that! In my opinion you can not complain about this because you then get exactly what you paid for. Yes it would be nice to have more features that were not available when you bought the device, but you can surely not complain of the company does not give you those features, since they never said that they would.
The only thing that I could imagine that would be very bad is if some newer wallet versions would not recognize the transactions from the older ColdCards, because maybe some kind of format change. But that does not seem to be the case in any near future.
11  Bitcoin / Bitcoin Discussion / Re: Satoshi Nakamoto White Paper on: February 19, 2024, 08:41:53 AM
Bitcoin is still decentralised but it has failed as a currency because of the decision to not upgrade the block size. This is a pretty easy fix for the future but before it is done bitcoin is crippled and can not be used in the intended manner.
12  Bitcoin / Hardware wallets / Re: Coldcar on: February 18, 2024, 04:18:41 PM
It is an interesting subject, though. Too bad that we don't have any legal experts here (that I am aware of) who could tell us more about our rights and obligations. 

This is not really an easy question to answer I think. If you want to get an answer with 100% certainty you would need to go to court and see what they tell you, since there are always at least 2 possible solutions to law problems. I think however that this is not really an issue with coldcard right now and there is probably no real need to discuss this more, if there are not really people that issues with their ColdCards software.

As far as I understand all the Coldcards form MK1-MK4 can still be used safely as of now or is that not correct?
13  Bitcoin / Development & Technical Discussion / Re: What to know of Nodes and Running a Node on: February 18, 2024, 04:15:28 PM
People above said it all, but I want to make things even simpler.

A node is device that runs bitcoin software. Bitcoin is a piece of software.

If you are absolutely new to the concept and have no idea at all, you can follow this link: https://bitcoincore.org/en/download/ and download Bitcoin Core.

It will take some time (some days) to sync and then you will be running a node. It's simple as that.


I am not sture if this information is still correct, but as far as I know bitcoin core does not work as a full node right from downloading it. I thin you have to open some ports in order for other people to connect to your node. This information can however be outdated and best is to simply follow a manual on this.
14  Bitcoin / Development & Technical Discussion / Re: Bitcoin mixing on: February 18, 2024, 04:12:47 PM
"Mixing sites" are scams because you trust third parties with your data and with your coins
Stop spreading false information. Mixers are not scam. He can use a reputable mixer. It will have onion link and he should use Tor to access the onion link. I will not say that you do not know what you are saying because you know about this very well, so I will say you should stop lying.

I would recommend a mixer that is open source and reputable. If you can not check how the mixer is working you can definitely get scammed even if the mixing service is reputable. There are also a lot of "reputable" exchanges that suddenly closed and scammed a lot of people. So better to do some research and mix only small amounts from time to time.
To say that mixing services can not be shady is kind of shady in it self.
15  Bitcoin / Bitcoin Discussion / Re: You should use a 12 or 24 words seed phrase ? on: February 17, 2024, 02:57:15 PM
Maybe a 24 word seed phrase will however become more relevant in the future when there is more and more computing power available. Is there any calculation if it will be possible to crack 12 word seed phrases with a super computer maybe in the next 50-100 years if you take into consideration how fast the capacity grows?
16  Bitcoin / Bitcoin Discussion / Re: You will burn on: February 17, 2024, 01:38:07 PM
Trading Shitcoin is just a gamble and you can win big or loose big. There is no possible way to control that and because of this reason it is nothing more then gambling. However if you look at all the crypto casinos you will see how many people are gambling addicts in this world. Even if Shitcoin trading is gambling it is probably not worse then casino gambling.
17  Bitcoin / Bitcoin Discussion / Re: You should use a 12 or 24 words seed phrase ? on: February 17, 2024, 01:23:02 PM
Is there a tool that can try to brute force the correct order of the 24 seed word seed phrase. I would love to give it a try, since it looks much more easy then it actually is.
There is really that weird thing with humans and probabilities that we are not really able to understand how unlikely stuff is.
18  Bitcoin / Bitcoin Discussion / Re: STOP telling people how much Bitcoin you have on: February 17, 2024, 01:18:18 PM
Thank god we all have a free will and can choose to tell or not tell basically anything we like. I feel that it is false to tell people they are not allowed to tell how much coins they have. If you are happy to share what you have then it is your decision. Usually people do post like "I bough my first 50 USD worth of bitcoin" wich is nothing bad and will not hurt you at all.
Stilll it is not wise to make everything you do transparent.
19  Bitcoin / Bitcoin Discussion / Re: Well Prepared For the Bull Market And So Far In Bitcoin Investment. on: February 17, 2024, 01:14:51 PM
Congratulations on holding on to the stash and believing in Bitcoin. There are two roads that you have now, either keep accumulating to get to the target of 1BTC or offload your stash in the next bull run.

So you thank him for believing in bitcoin in the same sentence where you tell him he can dump all his BTC in the next bullrun. This does not make sense at all, since you either believe in bitcoin as a payment system or you are here for the short term speculation.
Yes it is possible to believe in bitcoin and still trade it against fiat, but to accumulate and then sell everything ist just pure gambling.
20  Bitcoin / Hardware wallets / Re: Coldcard on: February 15, 2024, 10:30:27 PM
I don’t really want any kind of refund on my cold card since I am still a happy user of my mk4. Still at the time when I bought it it was around 3x the price of the cheaper options that were available at that time (ledger, trezor)



The intention is that you will have at least 2 year of updates from the day of the purchase.
I am sure that is only for smartphones and maybe computers, not for toasters or wristwatches.  Wink

As I said before this applies to any product with electronic components, if they need the update to work correctly. Usually a toaster would function happily for more than two years without an update. A smart toaster however could maybe need a security update to work correctly.
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