Bitcoin Forum
June 23, 2024, 05:44:03 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: [1]
1  Other / Beginners & Help / Re: Best Resource for Cryptography Books on: November 07, 2019, 08:47:03 AM
Adding one to BIT-BENDER list here - https://www.amazon.com/End-Money-cryptocurrencies-blockchain-revolution/dp/1857886690, but more bitcoin/functionality focused. Did have a section dedicated to cryptography and reasons.

Was talking with a friend about crypto one day and he had read it a let me borrow it. Read was easy, had already been following space for the last few years so not all information was new/foreign to me. Gave an introductory of BTC and history. Did have some new items I wasnt aware of to think about for the crypto space. 
2  Other / Beginners & Help / Re: Are you guys studying chart? on: November 07, 2019, 08:32:30 AM
Not familiar with tradingview, but features look pretty extensive features, which will appear to come at a premium (https://www.tradingview.com/gopro/?source=footer&feature=pricing).

Been using just some basic charts and just getting back into crypto chart reading and possibly some light trading.

Not sure what other exchanges have this feature available but I typically refer to this list when see something in the news/etc. and digging for more information - https://next-prod.coinmarketcap.com/rankings/exchanges/
3  Bitcoin / Legal / Re: 150 million taxpayers will have to answer this crypto ques on new IRS Tax Form on: November 05, 2019, 09:11:33 AM
.....it's really a good move to move to other Crypto friendly country if you are making huge money from Cryptocurrency.
Probably easier said then done. As I understand it US citizens are still required to file tax return even when living outside the country. Even going as far as renouncing citizenship can trigger an exit tax. Guessing that these steps can raises the level of scrutiny from Uncle Sam.   
4  Bitcoin / Development & Technical Discussion / Re: Bitcoin adoption: A technical challenge on: November 05, 2019, 08:37:10 AM
@aliashraf

I tend to agree PoW does have some limits when it comes to scaling and decentralization. Believe this is the reason why we do have other systems in place such as PoS, DPoS and RPoS (have not seen much of RPoS in development at this point in time which intrigued me while reading various white papers on various projects). Biggest is is that the natural tendency is that most things actually centralize naturally. Just look at history of civilization, countries, cities, even users of technology can become so enamoured with one entity its the primary goto service. In terms of PoW and winner take all system, the pool/centralization solved the difficulty issue and turned it into a workable solution as opposed to a single person looking for the solution.

Have you had time to read the Ton white paper? From what I can tell it's solution is as hierarchical DPoS with various delegated groups to help the overall scaling effect (decentralized? not sure any DPoS can properly hold that definition). Have read through to try and understand the basic concepts and idea (don't claim to understand all of it, but only one way to learn is reading what others have written).
5  Alternate cryptocurrencies / Speculation (Altcoins) / Re: 100 years of deflation and disinflation - BSOV vs. Bitcoin on: November 04, 2019, 07:27:28 AM
Dont believe BTC supply was ever intended to be deflationary by design. Normal for new ideas to have low demand at start with low prices but over time if demand increases so should the price, unless some distortion or outside events influence the demand side of the curve. Would consider BSoV graph as a depreciating asset once peak supply has been reached. No whitepaper as of now, but curious how second part of BSoV life is justified as a coin to have/use? Not so sure that just taking the opposite view of the traditional fiat inflation is a viable long term solution.     
6  Bitcoin / Bitcoin Discussion / Re: More Debt, Buy Bitcoin on: November 03, 2019, 08:20:05 AM
Looking at the numbers Debt to BTC does have a value and always good to see the comparison if various metrics, but does that mean those who hold debt will take BTC to consider what they are owe. How is a borrower pay debt holder back in BTC if all they get paid in is fiat and invest in fiat? The credit markets are massive across the globe and shouldn't be taken lightly and can/will wreak havoc on a system at various time of cycles which will benefit crypto-currencies and one day this may be considered a direct calculation metric, but seems investment must happen first for the system to achieve a state that can even begin to support a credit market. I think a better metric this early on would be to ask how much asset can actually flow into the crypto market as a % of total assets this stage in the game and who would be investing in such a asset class? I would imagine market cap could be ~$3-$4T (~3-4% assets one would be willing to loose on investment).
 
When it comes to debt in the US economy, it's horrible. Here are some statistics off a quick google search, it's surprising how tight things are there.

Quote
On average, each household with a credit card carries $8,284 in credit card debt. Total U.S. consumer debt is at $13.51 trillion. The average American now has about $38,000 in personal debt, excluding home mortgages.

That's crazy, being in almost 40,000 worth of debt, without including other fees like mortgages is a lot of money, around a year of working for the average American after taxes.

Not sure if crypto is the answer to solving this complicated question though.
The $13.51T does include mortgages. Still slicing the numbers a little different shows a little more exaggeration of the health conditions, $13.51T / ~130M = $104k per household, but realize ~56M households would be considered as paying a mortgage.   
7  Bitcoin / Bitcoin Discussion / Re: Share Your Experiences on: November 01, 2019, 08:00:22 AM
Was doing a lot of buying and selling on small hobby P2P forum. Recall is was about mid 2013, had a listing for sale asking $1200 and person pm's me asking if I would take BTC. Never heard of it before, did some searching on the internet and after about 30-45min laughed at the idea and declined the offer. Wasn't till about early 2017 and popped up again with the talking heads on TV, started to slowly pay more attention and study the blockchain space on a regular and more consistent basis. Hindsight is always 20/20 but always best to keep looking forward.
8  Bitcoin / Development & Technical Discussion / Re: Bitcoin adoption: A technical challenge on: October 31, 2019, 07:49:59 AM
I agree with the USD dominance and leverage aspect. I believe both fiat and cryptocurrency can co-exist for periods of time, but not indefinitely as reserve currencies have only been seen to last somewhat short period in history.

Back on to topic, so your intent is a hierarchical side chain (not sure how this can be a one-way pegged without setting BTC as some backed standard?). Mass adoption would need to happen at least in US at a personal level somehow. If person X trades for something, person Y needs to accept the trade and believe what they received has some value and may choose to exchange it for their future needs (food, shelter, clothing, etc.). Novel ideas are great but mass adoption is the key (why the need it and cant live without it).
9  Bitcoin / Legal / Re: 150 million taxpayers will have to answer this crypto ques on new IRS Tax Form on: October 31, 2019, 06:12:11 AM
Highly doubt this even moves the needle towards mass adoption based on just updated IRS tax form. From what I have seen in the past households with even a taxable investment account is quite low. KYC and Tax regulation seem to be the only way the government can begin to slow down the blockchain space.

10  Alternate cryptocurrencies / Altcoin Discussion / Re: How can people use facebook libra coin? on: October 26, 2019, 09:36:33 AM
Few takeaways below from recent hearing - https://www.youtube.com/watch?v=B1a5h5KncNM

- Fair warning its was long process and covered a range of items but I mainly followed it for the block chain portions.
- Was informational at times as well as comedic at other times. Seems over half representatives on the committee asking questions regarding block chain dont even understand the basic concepts and still think Facebook has direct control once it gets fully launched.
- Seems many still have an axe to grind with Facebook as a social media company.
- Calibra was referred to as a subsidiary of Facebook and non-profit entity. Initial governance would be put in place by Facebook and the project affiliates (large affiliates in the news are backing out and I believe are removing the target from their back as the regulators try to navigate a space that is very foreign to them). If it did ever get going it sounded to be a self-reliance entity.
- Libra is the proposed token and would consist of a basket of global currencies. Pegged and supposedly backed by various currencies.
- Zuck asked for regulation and wanted to comply with any and approval from all government financial entities to move forward with the project. Voices concern if US doesn't innovate someone else (China) will. Well hate to break it to everyone but seems some stable coins already do this (yes stable coin projects dont have the same user base so the target automatically goes to the largest entity with largest user base).
- Guess imagine Zuck can cut the tie anytime he wants and say Facebook and Calibra are two separate entities and go deal with them directly on these matters, we can expose our user base to it but once they are their we have not ties.

To answer the OP question:
- Tend to believe that this wold be another on-ramp tool for the general public that has large user base but the average person would possibly just use their native currency when it comes to day to day use.
- Timeline? Anybodys guess and does it really matter if its a centralized stable coin claiming to be of a block chain foundation?
- Overtake BTC? The general public is only in the infancy stages of beginning to understanding the block chain space and blinded to current global hegemony system that surrounds us. Reserve currency status does not last forever and block chain provides what I consider a small insurance policy that may or may not be paid out in my lifetime.
11  Bitcoin / Development & Technical Discussion / Re: blkXXXX.dat to csv [blockchain parser] on: October 25, 2019, 08:19:07 AM
Not running bitcoin core myself so that wouldn't be an option on my end. Good information from nc50lc and segwit data/structure changes that must be taken into account for any parser requirements.

Just got data block 600947 and was 8.2mb with 2774 transactions.

json without tx's and raw data are as follows:





Trying to wrap this around my head how to organize data in .csv file and be of use for your request?     

Just a FYI, been awhile since I wrote any personal code for data collection/organizing/scraping of information, but been following the blockchain technology the last few years closely and figure reading/writing some code is only a positive to being active on the forum and in space.
Pages: [1]
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!