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January 22, 2021, 01:15:28 AM *
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1  Economy / Speculation / #Bitcoin is seeing the largest depletion of liquidity since years on: January 21, 2021, 06:14:38 AM
According to @glassnode : #Bitcoin is seeing the largest depletion of liquidity since years.


Quote
In the past 30 days, around 270,000 BTC moved to entities considered HODLers.

The good about the largest depletion of liquidity is that they not only represent withdrawals from popular platforms, but the entities that withdraw are considered entities that invest in the long term at least.

https://studio.glassnode.com/metrics?a=BTC&category=Supply&m=supply.LiquidChange

According to the plan, the last liquidity shortfall of such a magnitude was in 2016.

The most important point is the increase in demand, or at least the continuation of the current demand, so that there is an increase in the price, which seems to be growing.

2  Local / النقاشات الأخرى / منصة تواصل اجتماعي لامركزية on: January 20, 2021, 02:38:49 PM
السلام عليكم ورحمة الله وبركاته

بعض عناوين الاخبار التي صدرت مؤخرا جعلتني اعتقد اننا سنشهد بداية حقبة جديدة وسوقا قد يولد ترليونات الدولارات وهي منصات التواصل الاجتماعي الامركزية فمثلا بعض الاخبار المهمة:

تويتر يحظر حساب ترامب ويقسم المغردين: "حماية للسلم العام أم انتهاك للحريات؟"
سياسة الخصوصية الجديدة لتطبيق واتساب.. ما سر كل هذا الهلع؟

ما رايكم هل تتوقعون لوسائل التواصل الاجتماعي ان تكون لا مركزية؟ هل ذلك ممكن ام اننا سنشهد منصات تواصل موزعة حيث تكون السيرفرات وبيانات المستخدمين داخل الدول ولا تغادرها.


صراحة بدأت اؤمن بان للخصوصية دور في المستقبل تماما كما نشهد ان صناعة الطاقات النظيفة اصبحت لها مكان في الوقت الحالي وقد يكون لها دور ريادي في المستقبل:

كيف يمكن أن تصبح الطاقة المتجدِّدة متنافسة من حيث التكاليف


اذا كان الامر صحيحا فهل قرأت عن اي نماذج لامركزية او موزعة تعمل الان؟


رجاءا لا تذكروا لي سيغنال او تليغرام؟ انها منصات مركزية ولا يوجد فرق بينها وبين واتساب.

3  Economy / Economics / DeFiOrg accelerator influence on bitcoin on: January 13, 2021, 08:05:51 AM
Binance and blockchain Orbs announced they are collaborating together to launch an accelerator focused on research and development in decentralized finance (DeFi).
There will be grants of "tens of thousands of dollars" that will be awarded to successful projects according to their needs. There will be no equity investments.

Source ---> https://news.todayq.com/news/bitcoin-recovery-to-orbs-blockchain-launching-a-defi-accelerator/

As we all know, (DeFi) is one of the aspects of liquidity that made bitcoin price jump from 15000 dollar to 30000 dollar easily and fast.
Do you think that this news has a good effect on Bitcoin in general and the price in particular?



other good news:

 - Grayscale has resumed accepting new investments
4  Economy / Currency exchange / [H] 520$ BTC | [W] 500$ USDT ERC20 on: January 08, 2021, 09:51:24 AM
I want to exchange about $ 5,000 Bitcoin to USDT.

the conditions:

 - You will go first.
 - I will send coins after I get 10 confirmations.
 - The amount is $ 520 but if you want more we can do many deals (only for trusted members).

you will earn about 20$/500$.
 

Post here and if you are trusted send me a message.
5  Economy / Service Discussion / BTC to USDT exchange service on: January 08, 2021, 09:43:21 AM
I need BTC to USDT exchange services without KYC.
It is 5000$ BTC to USDT, but I don't want to use one platform (or because some of them require identity verification).
I will divide the amount into $ 500 and try 10 platforms, what is the appropriate list for that?

Platforms I'd like to try:
- fixedfloat:
- coinplaza.it: i can't convert 500 but it is reliable
- Bitcointalk Currency exchange

What other services did you use?
6  Economy / Marketplace / Bitcoin Schnorr/Taproot domains on: January 08, 2021, 08:13:51 AM
I have some Bitcoin Schnorr/Taproot domain names, I bought them a year ago and now require renewal. I want to sell it in the future when
Schnorr/Taproot fuss so it might get some traffic. Are these domains worth renewing? How much worth it if I sold them?

Domain names like SchnorrXX.com ~ btcSchnorr ~ btcTaproot ...etc
7  Bitcoin / Legal / Pakistan Moves to Legalize Bitcoin as Economy Tumbles on: December 05, 2020, 09:17:15 AM
On Twitter, Zia Ullah Bangash @ZiaBangashPTI[1], a government advisor, said on Wednesday that the state council in Pakistan made a decision this week demanding laws for ownership of cryptocurrencies and bitcoin mining.


Quote
KP Assembly passes resolution regarding Cryptocurrency and Cryptomining demanding federal govt to take steps to legalise #cryptocurrency and #cryptomining in Pakistan. #DigitalPakistan

Source ---> https://twitter.com/ZiaBangashPTI/status/1334111818348974080/photo/1

The proposal was passed by several advisors and directed to the Chief Minister of Khyber Pakhtunkhwa Province, which is a mountainous region in northern Pakistan. It was signed unanimously, which means that the resolution met no opposition from other members of Parliament.


Is there anyone from Pakistan who can read the text and explain the impact of this matter on the legal status of Bitcoin in Pakistan and the legitimacy of mining and trading?

[1] https://twitter.com/ZiaBangashPTI
8  Economy / Economics / We're just getting started," says Grayscale 's Michael Sonnenshein on: November 30, 2020, 05:27:46 PM
In the interview that was conducted with @Sonnenshein[1], Director @Grayscale[2], when asked about the price, the answer was:

Quote
If our inflows at Grayscale are any indication of the types of investors that are interested in this asset class or the sizes of allocations being made, we're just getting started,"

Read it here ---> https://twitter.com/SquawkCNBC/status/1333388578752237570

It looks like we will witness exciting ups and downs in the coming year and it could be a year of surprises just as it did in 2017.

What is your comment on this talk and do you think that they will continue to buy more?


[1] https://twitter.com/Sonnenshein
[2] https://twitter.com/Grayscale

9  Economy / Economics / Guggenheim Fund Files to Be Able to Invest Up to Almost $500M in Bitcoin on: November 29, 2020, 06:17:40 AM
According to the information received, it seeks to present "the most convinced investment ideas with an unrestricted approach, as well as appropriate strategies to improve return and/or mitigate risks".

Quote
"The Macro Opportunities Fund may seek investment exposure to bitcoin indirectly through investing up to 10% of its net asset value in Grayscale Bitcoin Trust ('GBTC'), a privately offered investment vehicle that invests in bitcoin," the filing with the U.S. Securities and Exchange Commission read.
Source ---> https://www.coindesk.com/guggenheim-fund-files-to-be-able-to-invest-up-to-almost-500m-in-bitcoin-through-gbtc

This will be done through a wholly-owned subsidiary, as a limited company under the laws of the Cayman Islands (“the subsidiary”). Except for its investment in GBTC, the fund will not invest, directly or indirectly, in cryptocurrencies.
10  Economy / Services / [LN payment] Hugeblack's avatar redesign on: October 09, 2020, 03:07:13 PM
I want someone to redesign my Avatar to fit BESTCHANGE campaign requirements.
the conditions:

However, there are to important things to consider. Firstly, your custom avatar must have our company’s logo and it must be clear and visible. Secondly, before wearing the avatar we must approve it (send us a private message).
You can use any image that denotes a maze or the Fibonacci series.

Basic design:




Payment:
It will be a donation using lightning network (the amount will not be large,) or free (I will leave a good review.) it is just for fun.

Old avatar:

11  Bitcoin / Bitcoin Wallet for Android / BlueWallet Payjoin support (bip78) on: October 08, 2020, 01:41:45 AM
Payjoin is a type of CoinJoin, where both the sender and the receiver coordinate to build a Bitcoin transaction.
payjoin packages up inputs from both the sender and the receiver, with the receiver sending extra coins to themselves.

Source ---> https://twitter.com/bluewalletio/status/1313822205286010883
Read mroe --> donate.kukks.org
12  Local / إستفسارات و أسئلة المبتدئين / لائحة بالعملات البديلة المفضلة لديك on: September 28, 2020, 07:47:15 AM
السلام عليكم, لدى احساس قوى بانه في الاشهر القادمة سنشهد موجة من ارتفاع في اسعار العملات البديلة بشكل عام ولربما جزء كبير منها سيكون مشروعا احتياليا.

على الرغم من انني لا احب الاستثمار فيها الا انها ستبدوا مثالية لمن يريد الاستمثار علي المدى القصير سوا كان ذلك المدى اقل من شهر وصولا لاقل من 3 سنوات والتي تمثل فترة كافية لكثير من العملات البديلة لتصل ATM قبل ان تنتهي فقاعتها.

امل ان تشاركوني ببعض ما لديكم من افكار حول ما هي العملات البديلة الجيدة للاستثمار ولماذا؟

كنت اخطط ان اجعل الامر مسابقة ويربح فيها الفائز ولكن لندع الامر مبسط والمشاركة عبارة عن اقتراح لماذا تعتقد ان X من العملات البديلة مناسبة للاستثمار؟

مهما كان سببك غير منطقي اتمني ان تشاركة لانه احيانا كلما جعلت الامور ابسط وغير متوقعه كلما كانت ارباحك افضل.

وهي فرصة لبعض الاشخاص لربما اتخاذ بعض القرارات غير المدروسة والربح مستقبلا.
13  Alternate cryptocurrencies / Altcoin Discussion / Warning: Someone has reported that Crypto.com copying your clipboard on: September 24, 2020, 06:12:05 PM
I am not sure the correctness of this information, but I found this topic on Reddit and some comments confirming it.
Copying the clipboard without permission may cause you to lose money (if you have copied the private key) or privacy issues.

There is no evidence that they keep or record this data, but be careful when using this app and it is best to use it on a separate phone.

Source https://www.reddit.com/r/Bitcoin/comments/iz0wd4/cryptocom_copying_your_clipboard_on_app_launch/
14  Economy / Exchanges / Instant fiat conversion for BTCPay Server stores using Kraken exchange on: September 23, 2020, 02:35:47 AM
Support for lightning network, low fees, open-source system, and finally automatic transfer to fiat, if this works well it will be a strong competitor to Bitpay.

Read more about it ---->https://redbtc.org/flows/integrations/kraken-exchange/

Configuration & Setup

Code:
Import the Node-RED Flow
Open the "Configuration nodes" panel in Node-RED (via tabs on the right panel or ctrl-g c shortcut) and configure the config-nodes:
btcpay-api-config - create a store on your BTCPay Server and pair the node with it (read more)
kraken-api-config - create Kraken API keys and copy/paste them to the node (read more)
Double-click the initial "/btcpay-ipn" node and configure it to receive POST notifications from your BTCPay Server
Now add the notification URL to the processes that create invoices for you. Calls to BTCPay's Create Invoice API should have the notificationUrl property with the URL you specified in the previous step
Double-click the "🔨 Volume calc" node and set your formula for calculating the amount of Bitcoin to exchange (by default, the flow calcs 20% of the amount)
Double-click the "🔨 Order params" node and change the params of Kraken orders (by default, the flow adds market orders to sell on BTCUSD)
Push Deploy

By following the above, the flow will automatically add an order on Kraken for each paid invoice.

source ---> https://redbtc.org/flows/integrations/kraken-exchange/
15  Economy / Service Discussion / Namecheap has finally enabled BTCPay Server on their top-up page on: September 19, 2020, 01:24:36 PM
Although they promised to replace Bitpay by April and June, it was already a few days ago.

https://twitter.com/NamecheapCEO/status/1306584246128193536

I still think you can't pay with the lightning network, but it might happen soon.
(They still think it's risky for small transactions but things change quickly.)

https://twitter.com/twiteis/status/1306648215308185600

pay without stupid  "unavail in your country", errors
16  Economy / Currency exchange / [H] USDT (omi/ERC20) TUSD [W] BTC on: September 09, 2020, 06:24:27 PM
I have about $ 1,000 of these currencies and would like to convert them into BTC.
I can use online exchanges but they ask for 2-7 dollars, we can get a 1:1 transaction rate using this forum.
PM me or reply here to make a deal.

I don't think we need to use escrow, you need to send first, but if you have enough trust then i will go first.
This offer lasts for 24 hours.
17  Alternate cryptocurrencies / Altcoin Discussion / [Tokenization] Bitcoin on Ethereum ?! VS DeFi on: September 08, 2020, 09:38:58 PM
We often hear the DeFi (Decentralized Finance) even though it is not a currency or based on a specific blockchain, meaning that it can happen on any smart contract platform. But is this idea successful?

Today I'd like to make a strange comparison, which is tokenization concept.

The idea is not modern and is based on the principle of locking BTC through some mechanisms, placing tokens on another network, and using BTC as a tokens on that network.

we can lock some BTC (which have some values) and get ETH ERC-20 tokens that have the same value. is the real value in this the tokens or locked BTC?

Does this make Bitcoin more valuable? Will you buy those tokenization tokens?
I want you to think about these things before investing in DeFi.



One of the other answers about the reason for investing in DeFi is that its value is high. We can only judge the value after the price rises, and then it will be too late and the investment is often a loser.
18  Alternate cryptocurrencies / Mining (Altcoins) / Mining Hashrate and Power Analysis | BitOoda Research on: September 08, 2020, 09:09:35 PM
I will try to summarize some of the information provided by Fidelity Center for Applied Technology (FCAT) to provide more data and analysis on Bitcoin mining Read it here ---> Bitcoin Power Analysis Hashrate Implications and Miner Economics.


source: click me

Section I: Bitcoin Power Capacity Analysis: How much, where, and at what price

It has been estimated that the Bitcoin mining industry has access to at least 9.6 GW of power, assuming that all of the Hashrate that remained on the May 17 trough was among the most profitable new generation of mining platforms - the "S17 Class*" and all devices that were shut down between May 10 - May 17th were from the older generation, and the "S9-class*"  less profitable machines.

We also assume a PUE (Power Usage Effectiveness) of 1.12 across all relevant calculations, which means that for every 1MW used to directly mine Bitcoin, another 120kw is used to run everything else, including cooling systems, lighting, servers, switches, etc.


source: click me


source: click me


We assess that the BTC mining industry utilizes ~67% of 9.6GW available power capacity, growing at ~10% per annum, powering 2.8mm dedicated Bitcoin mining rigs.

Estimated mining capacity is roughly 50% in China, with the US accounting for another 14%, then Canda, russian,..etc




source: click me

In our assessment, 50% of Bitcoin mining capacity pays 3c or less per kWh. it means lower revenues, and consequently, miners who have high energy costs turn either to lower energy cost areas or shut down.



source: click me


source: click me

Thus, the average monetary cost of 1 BTC mining is around $ 5,000, with a maximum confidence of approximately $ 6000, without other expenses, depreciation, and other costs.
However, there is a small percentage of bitcoin that is extracted at a higher cost of cash than the current price of bitcoin, and a minimum of $ 14,000, and perhaps the reasons that drive them to continue are energy purchase obligations, among others.



source: click me

We note that the S9 class needs less than 2c/kWh to reach even in the current Hashrate network, and it is likely that you will need lower energy prices in order to remain sustainable while Hashrate continues to increase.
If mining with S9 class rigs, it would take about 70 devices and over 100kW, and correspondingly more maintenance and operations labor cost and power overhead to generate the same 1PH/s of Hashrate


source: click me


Quote
In summary: we estimate that there is about 9.6GW of available power capacity for mining Bitcoin, with a current utilization in the mid 60% range. This capacity has a median power price of ~3c/kWh and a median $5000 cash cost to mine 1 BTC. We estimate China accounts for about 50% of global capacity, while the US follows with about 14%. A significant portion of Chinese capacity migrates to take advantage of lower power prices during the flood season, examined in detail in Section II.

Section II: Some surprising conclusions on the relationship between Hashrate growth and China’s flood season

The Southwestern provinces of Sichuan and Yunnan face heavy rain from May to October, causing an increase in hydropower production during this time and thus selling at cheaper prices (Where it is paid about 1c / kWh.)

As shown in the graph below, there is a noticeable difference between average price gains during flood and drought seasons

capital accumulation followed by equipment purchase, delivery and deployment is reflected more broadly in the correlation between price appreciation (which supports capital accumulation) and Hashrate growth 4–6 months later


source: click me


Quote
The available and underutilized power capacity, capital accumulation from internal generation by the industry (aided by China’s hydro season), and external funding, as well as diminishing revenue per PH/s, all play a role in the future growth of Hashrate. We examine the future of hash in Section III.


Section III: Bitcoin Hashrate Growth Projections: How much, by when, why, and what could slow (or accelerate) growth.

Bitcoin network can exceed 260EH/s in Hashrate in the next 12–14 months, led by a modest increase in available power capacity from 9.6 to 10.6GW and an upgrade cycle that will replace older generation S9 class rigs with newer S17 and next-generation S19 class rigs


source: click me



We believe that a low 3 nm capacity and potential initial low yield will lead to 5 nm operations is the mainstay of ASIC development and production until 2022. For these reasons, we believe that the S19 class excavators will account for the bulk of the shipments in the next 24 months,

So if the Hashrate network increases, the miner's share of the Hashrate total and thus Bitcoin flow decreases. If Bitcoin does not rise to keep pace with the increase in Hashrate, profitability will decrease and a new balance in Hashrate may be created significantly lower than our expectations here.


source: click me

The dollar value of mined BTC will decrease over time, which will decrease profitability unless Bitcoin price goes up enough to make up for it.

Current Target Network Hashrate ~ 124EH / s and current BTC price of $ 9220, daily revenue per PH / s is ~ $ 70. If the Hashrate network would rise to 260EH / s, as we expect during the summer of 2021, Bitcoin would need $ 19,500 in order to have the same $ 70 in daily revenue per PH / s



source: click me


What if the price remains the same? At what point will Hashrate not grow? If the power price is 1c/kWh, the S9 drilling rig can continue to operate up to 180HH/s Hashrate Network. At 3c/kWh, the S19 series devices can maintain operations of up to 295EH/s.

However, the devices will fail to recover the capital cost in Hashrates much less than 295EH/s.



source: click me

If Bitcoin's price will steadily rise to $ 19k in two years at 40% + annually, then S19 class platforms will remain viable even at 5c / kWh power cost


source: click me

Quote
In conclusion, we believe that the Bitcoin Network Hashrate could reach 260EH/s in 12 months and 360 EH/s in 24 months. However, this is somewhat reliant upon the price of Bitcoin appreciating or being expected to appreciate at 25–35% annualized, as per our model. We do not model or forecast the future price of Bitcoin, but merely reflect the impact of potential price scenarios on Hashrate growth, power consumption and mining industry capital investment and profitability. Variance from this range could delay or accelerate Hashrate growth. Bitcoin price and the availability of external capital to bridge the funding gap are potential constraints to the industry’s ability to ramp up Bitcoin mining capacity to 360 EH/s, but the capacity to produce or assemble the needed semiconductor chips is not.
19  Alternate cryptocurrencies / Altcoin Discussion / offchain smart contract | OmniBOLT on: September 08, 2020, 08:45:38 PM
I have been reading about some projects and found this project about the possibility of liquidity using the lightning network.
** I have no connection with them.

In brief:

 - Liquidity: You can use the Omni layer to create secure Omni assets aware "for example, users can create channels for USDT" by bitcoin (in this case bitcoin works as a guarantee) and then you can use those USDT (or any stablecoins) faster and cheaper.

 - These will be attempted to be compatible with Lightning nodes located around the world.


Note: OmniBOLT are not tokens but all tokens are issued on Omnilayer, the OmniBOLT network enters through the supported channels, and is locked in the main chain.
It looks good and a way to liquefy BTC outside the chain.


The idea may be a basis for how exchange platforms work in the future. You can create future funded channels using Bitcoin LN off-chain layer, and then you will have a channel that enables you to atomic exchange across channels for different assets or making decentralized exchange on top of lightning channels (fast exchange with zero fees.)

Architecture



Advantages of OmniBOLT
1. Technical ready. OBD testnet is online in May, 2020, and client API, which are highly similar to lnd client, is releasing, so that integration costs will be minimal;
2. Instant payment of smart assets issued on OmniLayer and Etherium(soon future) with the natural advantage of lightning theory.
3. Cross channel atomic swap of different assets.
4. Decentralized exchange on top of lightning channels with quick exchange speed and almost zero fee.
5. Collateral Lending Contract and more flexible contracts for various DeFi scenarios based on atomic swap, without any extra cost of transaction fee or any intermediary;

Read more and Source ---> https://medium.com/@omniboltofficial/omnibolt-smart-asset-lightning-network-off-chain-contract-system-919f25f4f056

Github ---> https://github.com/omnilaboratory/OmniBOLT-spec

[1] https://github.com/omnilaboratory/OmniBOLT-spec
20  Bitcoin / Legal / Swiss Canton Zug to Accept Taxes in Bitcoin, Ether From Next Year on: September 03, 2020, 04:16:58 PM
Citizens and businesses based in Zug will be able to pay their taxes in either Bitcoin (BTC) or Ether (ETH).
The move does not represent much of a change as the tax office and Zug-based crypto broker have collaborated to convert payments in cryptocurrency into Swiss francs.
Perhaps the latest move will give a boost to more adoption and knowledge of how to make payments in cryptocurrencies even though I think a small portion will pay their taxes in BTC or ETH.

Source: https://www.coindesk.com/swiss-canton-zug-accept-taxes-crypto-bitcoin-ether-2021
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