Bitcoin Forum
July 07, 2024, 03:59:39 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: [1] 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 ... 1162 »
1  Bitcoin / Bitcoin Discussion / Re: Road to 1sat/vb! Destination in sight? on: Today at 03:01:48 AM
Just because fees are lower than months ago at the peak of the spam attack, it doesn't mean the attack itself has stopped. When looking at the mempool chart at a longer period like 2 weeks[1] I still see a persistent attack going on that is filling the blocks.
Some people are still abusing the hell out of the protocol and are injecting junk into the chain[2] using different methods.

Can we go back to 1 sat/vb? It's hard to predict as long as the spam/Ordinals family of attacks are not stopped. But it is not impossible.

[1] https://jochen-hoenicke.de/queue/#BTC,2w,weight
[2] https://mempool.space/tx/c605f1c28813b85e76a6f9abaaa4002a51792a0244addbfe13624761ba128173
2  Bitcoin / Bitcoin Discussion / Re: Donald Trump's stance on Bitcoin is changing, the Trump pump is beginning on: July 06, 2024, 02:52:56 PM
@pooya87. We are speculating on what the Democrats might decide after witnessing Biden's performance on the debate against Trump. Before this was a different storyline. It also implies that the Democrats did not have a plan if Biden's memory loss will worsen.
From what I understand if they can't convince Biden to go away willingly, they're going to have a tough time replacing him and so far Biden doesn't want to go away and keeps telling everyone to get off his lawn Grin
3  Other / Beginners & Help / Re: The Bull run on: July 06, 2024, 02:39:20 PM
I can give you one useful advice: educate yourself about anything you want to get into.

If you educate yourself about cryptocurrencies you'd realize that what you do with your phone is not and can not be mining and any kind of reward you receive is being received by millions of others just as easily. Which means huge supply and no demand which then means low value. Which also means you were wasting your time. But it was an experience.

As for the bull run that is your main question, cryptocurrencies are not a get rich quick scheme (some shitcoins are but not in the way that would make you rich). You also don't need a bull run to make a profit from this market. You just have to know how the market works, how prices go up and down, when to get in and most importantly out, how pump and dumps work and a lot more. These are things you can only learn by spending time in the market, reading trading board, looking at charts and generally following the crypto scene.
4  Economy / Speculation / Re: Are we going to experience above $80k in this month of July. on: July 06, 2024, 02:30:50 PM
Logically and historically we should start seeing rises and break the ATH soon since we are in post halving days and we already had the post halving correction when price drops from the mini bubble that forms pre-halving date.

But when looking at the market we see that after breaking the strong support at $60k a downtrend was formed and price kept going lower (reached $53k at some point) and recovering from such a crash takes a much longer time than normal. That means the chances of seeing a new ATH like $80k is less likely unless something major happens to reverse this trend.
5  Economy / Economics / Re: Can BRICS topple US' economic power? on: July 06, 2024, 02:21:29 PM
BRICS countries face challenges such as income inequality, political instability and technological gaps.
Apart from maybe technology all these problems and a lot more exist in United States as well. We are already witnessing the mess called US presidential election where two elderly men, one worse than the other, one is a convicted felon and the other is senile, compete for the highest political position in that country.

As for technology, in this day and age there is no gap that can not be filled. I started a post about that gap in microchips nearly a year ago and today that gap that existed is nearly filled.
It will be the same in other fields as well.
6  Bitcoin / Bitcoin Discussion / Re: Why is the Dollar good and Bitcoin bad for people on: July 06, 2024, 05:46:06 AM
That doesn't make any sense whatsoever Cheesy

You are basically saying that fiat that has no cap and is printed out of thin air without anything backing it, specially something like the dollar that is currently more of a Ponzi scheme where the government prints about a trillion of it every 100 days and then sells that "debt" to other countries is a "legitimate system" while Bitcoin which is being mined and has a cap so it can not be printed out of thin air and its supply is not creating "debt" is not!

I honestly stopped there and didn't bother with the rest of the wall of text about banks and loans, etc. lol
7  Economy / Economics / Re: Can BRICS topple US' economic power? on: July 05, 2024, 04:30:24 PM
What's interesting is that as the West gets weaker (eg. UK PM and French Presidents are losing votes) and their countries fall into the hands of the "extremes" (Trump is coming as well) while their coalitions like EU gets weaker; the BRICS members are getting stronger and more united through multilateral cooperations. The recent SCO meeting was very productive and they even took new members as the necessity for dedollarisation was also highlighted by all members.
8  Other / Beginners & Help / Re: BTC wallets security on: July 05, 2024, 04:09:58 AM
What are the chances that these wallets are actually broken by bruteforce?
0%

It is impossible not because of brute-forcing a password is impossible but it is impossible because those wallets are fake. Otherwise depending on the password (eg. if you know the length and some part of your own password) there can be some hope of recovering funds.

From what I've seen in the year I've been active in the bitcoin community, all those wallets that are being sold on the internet are a manipulated wallet file to appear as if they hold the keys to those funded addresses. The scammers create these files to make money from selling them and they sell them to a lot of newbies.
9  Economy / Economics / Re: Russian sanctions keep rates higher for longer in the west on: July 05, 2024, 03:51:36 AM
It is because they make stuff. Lots of stuff. Their manufacturing power is simply unmatched.

The US used to be like that too, long time ago.
Exactly.
To complement that even more, China keeps the costs low while USA has massive expenses since China isn't at war with the rest of the world US is.

All that expenses means even if US goes back to manufacturing days and revive that "American Dream" thing they still will not be able to compete or fix the mess since all that money and more will be consumed by hundreds of thousands of troops overseas in wars the regime keeps starting.
10  Economy / Economics / Re: Can BRICS topple US' economic power? on: July 05, 2024, 03:14:07 AM
What we do know is that democracy is in danger. Especially when the West is showing signs of weakness. It's likely authoritarianism will rule the world in the future. How long will it take for the US (and democracy as a whole) to collapse is a mystery. The clock is ticking, so expect the unexpected.  Undecided
Democracy is not in danger, it existed way before West claimed to have it and it will continue to exist long after US had the same fate as USSR.
What is falling apart is the liberalism and better said laissez-faire-ism (everything is for individual interest even human rights). That is weakening and hopefully falling apart for good reasons.

I wouldn't say it is being replaced by authoritarianism either, that's just temporary specially in Europe that is moving toward it. During the time when tensions are increased and they have put themselves in a bad position where they've brought war close, democracy loses its "bling"...
11  Bitcoin / Bitcoin Discussion / Re: Regulating Bitcoin: Necessary Protection or Stifling Innovation? on: July 05, 2024, 03:00:29 AM
Lack of proper regulation = FTX = Bitcoin drops by 95% in value.
The biggest crash we've had in bitcoin IIRC was 80% and it was because the tip was a bubble aka an unrealistic price that needed to pop and price needed to come down.

Crashes caused by some shitty centralized service can never be big and I don't think any of them were bigger than 30%.

On top of that, regulations are not going to prevent such things from happening. They will get hacked, scam their users, run away, etc. and they can cause crashes with or without regulations.
As I said before, so far regulations have not been for user protection but for government control and surveillance.
12  Economy / Economics / Re: Can BRICS topple US' economic power? on: July 04, 2024, 04:14:56 PM
All of them still want to HODL U.S. Dollars because of its easy Spendability, high Liquidity, and Saveability - it's still in demand.
Surprisingly enough USD is similar to USDT! If you are a trader, you most probably have used Tether. It has high liquidity, demand, etc. But what if iFinex decided to start stealing money? If they started freezing accounts and then spend users' balance; but selectively.
Would you still use it even though Tether would still have high liquidity, etc.? Or would you look for an alternative?

That's what dedollarisation is. The US regime decided to weaponize the dollar. They have already done this to dozens of countries, they steal their money so an increasing number of countries start looking for an alternative.
13  Bitcoin / Development & Technical Discussion / Re: P2WSH and P2SH on: July 04, 2024, 04:00:26 PM
The old multisig that was used by so-called P2SH and P2MS addresses had some serious limitations in the number of co-signers you could have. I think it was a maximum of three or something.
I believe 3 is standard limitation otherwise you can use up to 20 for n in P2MS and only 15 in P2SH (assuming compressed pubkeys)

Quote
But for segwit addresses (P2WSH in other words), the limit has increased significantly to about a thousand co-signers or close to that.
For witness version 0 the n value is still limited to 20 max
https://github.com/bitcoin/bitcoin/blob/bd5d1688b4311e21c0e0ff89a3ae02ef7d0543b8/src/script/interpreter.cpp#L1116
14  Bitcoin / Bitcoin Discussion / Re: Winklevoss "Gemini" twins donate $2m to support Trump on: July 04, 2024, 03:34:32 PM
I completely agree with you with a conspiracy theory of market manipulation but could I ask you what is your vision for this market cycle?
Bitcoin is particularly hard to predict these days, unlike before.

I'm mostly looking at interest rates, with them being high less capital comes toward bitcoin. I also think as long as there is uncertainty in the economy as a whole, it is hard to see an actual bull run in bitcoin.
There is also the global tensions which leads people to buy the less risky assets like Gold and liquidate riskier ones like bitcoin.

But apart from the negative, we also had the halving this year and the supply cut (sell pressure) by 50% has to show up slowly and help with the rise.
So I could see some decent rises this year, maybe even crossing $70k before the year ends.
15  Bitcoin / Bitcoin Discussion / Re: Winklevoss "Gemini" twins donate $2m to support Trump on: July 04, 2024, 05:35:45 AM
If we see that Bitcoin need to have correction and accumulation after many months of bullish since 2023, latest corrective months can be explained without any relations to Trump's chance to become an Elected President in November this year.
I completely agree with the correction explanation, but here is the problem how much fall is categorized as correction? What percentage and to what support?

We've been coming down from $72k and I personally can consider prices down to $60k to be correction which is a strong support. But as we go lower, it becomes harder to call it a correction. It starts looking more like a crash and maybe even market manipulation; speaking of a crash we just touched $57k range.
16  Bitcoin / Development & Technical Discussion / Re: P2WSH and P2SH on: July 04, 2024, 05:00:51 AM
Firstly, both Pay 2 Witness Script Hash (  P2WSH) and Pay 2 Script Hash (P2SH) are Multisig type and they contain the Pay 2 Multisig (P2MS) locking Script
They aren't "multisig type", both of these script hashes can use hash of a multi-sig redeem script as well as hash of any other redeem script type.

Quote
the idea of P2WSH was to replace P2SH as it's much more standard
Being standard is not a spectrum, a script is either standard or not.

P2WSH is not exactly a replacement either even though it may look like one. It is the SegWit way of using script hash in locking scripts.
17  Bitcoin / Bitcoin Discussion / Re: getting back into the BTC game on: July 04, 2024, 04:35:20 AM
I've been reading different news sources about the future potential of BTC and it still looks pretty bright.  What is your personal view?  Are you still optimistic?  Riding the fence?  I'm curious.  Thanks.
Things haven't really changed much, everything is just bigger. A bigger community, more government regulation of centralized services, more fighting against government trying to gain control and so on.

At the end of the day Bitcoin hasn't reached its true potential and it is still growing as the adoption increases. So I still have no doubt about the long term growth. The only thing we'll experience for the time being is the negative effects of worsening global economy and increasing tensions on the price.
So in short term I may not be optimistic but long term is all optimism...

P.S. Don't forget to stake an address here for this account, it makes recovery easier: https://bitcointalk.org/index.php?topic=996318.0
18  Bitcoin / Bitcoin Discussion / Re: Winklevoss "Gemini" twins donate $2m to support Trump on: July 04, 2024, 04:24:04 AM
Is it just a coincidence that with every percent Trump moves ahead in the elections the bitcoin price dumps as well?!! Shocked

As terrible as it was, Washington's ownership of slaves was not a crime when he was alive.
There were no United States to have laws to recognize it as a crime either. Otherwise slavery was a crime in the rest of the world except the West where slavemasters ruled.
19  Economy / Economics / Re: Resources are not infinity on: July 03, 2024, 06:58:02 AM
Comes a time when oil is no more I guess we'd be using water already. AFAIK Toyota already has hydrogen cars.
From what I gather such vehicles don't consume water, they emit water. Their fuel cell is also expensive due to the fact that the raw materials needed in their construction are rare metals (like platinum and iridium) that are rather expensive.
20  Economy / Economics / Re: Can BRICS topple US' economic power? on: July 03, 2024, 06:49:33 AM
Egypt and Ethiopia… um I don’t know why they are there tbh. Maybe they are providing super cheap manpower. I can’t call them giants in any way though that’s for sure.
One of the characteristics of a lot of newest BRICS members that may be overlooked is "potential".

For example Ethiopia as a massive country (2x France size) with a massive population (130 mil work force) and good amount of resources (minerals, metals, decent amount of natural gas) and a good agricultural potential has a lot of room to grow.

Another characteristic is "location".

For example Egypt is like the gateway to Africa through land (Belt and Road Initiative) and as an old civilization it has always been part of the ancient Silk Road. They are also like the "gate keepers" of a vey important water based route called Suez Canal. Both of these give them a very strategic importance in the New World Order.
Pages: [1] 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 ... 1162 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!