I believe I haven't posted here for sometime now
Okay a long time but
Wetin I see for the meta board really shock me aswr and e nor really help our reputation
Why out of all country na our own e com be
I nor just understand.

Me really go jux stay under the cloud say nor b here e from come but
Omo
Omo


I go quick lock the thread sha. I just wan clear my head by writing all these
Chaii e pain me sha.

[Nlocktime]

I recently came across fee sniping and made me go deep into the rabbit hole of long term fee feasibility.
In the process I stumbled on Bitcoin cores anti fee nlocktime and BIP 326.
While I understand the basic idea I'm struggling to reconcile withhow fee sniping is usually described.

From what I have gathered:

Nlocktime is a consensus field that determines transaction finality
While Bitcoin core implemented Nlocktime to Current block height as wallet policy.

BIP326 is a wallet standard for taproot that recommend consistent use of nlocktime and nsequence for improved  privacy.

Now where my confusion comes in.

Imagine we in the future where block reward is now 0 or nigh.
And miners are compensated almost entirely by transaction fees.
Let's assume we have only two transactions

Code:

Alice 5 BTC Bob 4BTC
Miner A includes all transactions
Block 10-Block 11
Block 11 contains  Alice 5BTC and BOb 4 Btc making total =9

Since no reward it's total income becomes 9btc.

Miner B

Honest and goes to Mine Block 12 since Alice and Bob are already confirmed he has nothing (we assuming only two)

Now he can take another route and pretend Block 11 doesn't exist and try mining Block 11
And also place Alice and Bob
And if they win Miner A loss all while they earn 9 Btc.
This is Fee sniping which can occur during the window before another block is mined.

Now let's introduce nlocktime.
Say immediately after Block 11 is mined Mars creates a new translation fee 2Btc
Where his wallet uses anti fee sniping nlicktime.
So the transaction is only eligible for the next Block Block 12.

Honest miner
Mine Block 12 and include Mars 2btc and miner b gets 2btc as a reward.

Fee snipe.
Because of the nlocktime placed by Mars Miner B can't include it to his Block 11
And gains just the 9btc which Is more profitable than honest.
But if Mars didn't have an nlocktime miner B could add and if he wins gains 11BTC.
The attack becomes more attractive.

So from what I could pick nlocktime stops the attacker from making more profit
It doesn't necessarily stops fee sniping.

Am I getting it wrong? Or is there something I'm missing and also has better precaution been established?
I would assume that any wallet that allows advanced control can make it possible to manually set the nlocktime
And is it possible to know a wallet that doesn't?


I believe we understand that the fee and Block are just examples

Clarity would be Appreciated. Thank you.

I understand it's rough but I almost summarise halfway because it was getting longer than I anticipated 

["the best way to get the right answer on the internet is not to ask a question; it's to post the wrong answer"]

"the best way to get the right answer on the internet is not to ask a question; it's to post the wrong answer"
This above is Cunningham law of software
That people are subconsciously moved to correct a mistake than answer a genuine question.
And I noticed that it's quite true especially Here on Bitcointalk
And it's not like I'm supporting trolling
But I have learnt quite alot of users that try to correct trolls
Lol Because they always try to explain it as simple as they could.


Noticed this too?


I'm also aware it's annoying and exhausting speaking with trolls

I will just blame it on me being bored
So tried a little experiment by trying to send 1.05 merit
And it sent as one
Then tried 1.88 and it also sent as one
So was quite disappointed approximation don't work.
Then tried 0.9999999999 and it sent as 1.

I know 0.9999 is numerically close to one but why doesn't others also undergo approximation.



Thank you in advance. The thread won't run long since its to satisfy curiosity.

Why is it that people don't realize that since bitcoin is usually measured in dollar
so inflation affect how we perceive it's price

A Bitcoin worth $68K 2021 could be higher than a Bitcoin worth $77K today
and many tend not to think about it Same applies to other assets.
We tend to focus on nominal value and neglect real value
If we are to measure and account for inflation Bitcoin price would be lower than we see.

This doesn't mean Bitcoin is failing It's that nominal ATH is different from Real ATH.

Look forward to your opinions and clarity.

For those interested
You can use this site to measure for different currencies
https://inflationglobal.com/en/

I was going through the thread about Bitcoin strategic reserve and it got me thinking.
Strategic reserve would increase the price and make Bitcoin more like a store of value
But adopting into a medium of exchange would mean the price wouldn't shoot again and become relatively stable
Because I can't really picture a medium of exchange that's quite volatile.

I understand scalability constraint, so it's more of an hypothetical situation to compare
Which would push the price higher and which would keep true to what Bitcoin was created for.

Sigh Now I don't even know what I'm talking about anymore 


In summary how would stability that I believe a accepted medium of exchange should have
Align with a decentralized asset?
Would stability always be hypothetical and scarcity drive price?
Or we have what money should be
One that don't fall with time but stay relatively consistent and keep up with price changes.


Sigh wtf am I even saying, will likely lock when I'm sober and awake.

[3]

I just noticed that when I click on my merit sending section there's now an option
Is it a New update or has been existing
And if it has been existing, how come I'm just finding out?

I guess 3 not there means I don't normally give 3 merits.

[My prediction]

This is more of a jab towards so called influencers and reputable personality
That just give Bitcoin prediction like they talking about colours or a pyramid scheme.

My prediction
I believe Bitcoin price in 2028 will have numbers in it
Why do I say so because price are depicted in numbers.

Hopefully this is tagged and remembered when my Prediction comes true.




Happy Womens Day

So I didn't know where to post this before but felt it would look better at home
Finally a legendary member after how many years 

It may seem like nothing to many but
When I started Senior member felt insurmountable and were like Demigods to me
But luckily I have made it this Far.
Congratulations to me!!!!




Found out when DdmrDdmr mentioned me as a new legendary member.

Yeah I know understand how we say quality is subjective but there's some level of objectivity
I realized since last month or some weeks
The threads relative quality has fallen
Especially in the Bitcoin Discussion board (don't frequent beginners and help that much anymore)


Is it that there's nothing interesting happening anymore or I'm the one that needs to stop taking coffee. .if not the above what could be the problem? Leaning towards the former though.



Don't take it the wrong way, I'm not saying there's no Good thread
Just that it's getting rarer than normal.

Thanks for your opinion in advance.

[Source:]

So the Crypto-Asset Reporting Framework (CARF) has set a rule that exchanges should record how much users make from sales of their cryptocurrency.

The first group of 48 countries is expected to begin recording transactions in 2026, with automatic information exchanges starting in 2027. Another 27 jurisdictions, including Canada, Australia, Mexico, and Switzerland, have until January 1, 2027, to begin collecting data, with exchanges scheduled for 2028

48 is quite something and others would like join in as time goes on
They can't turn a blind eye to it now they planning on finding a way to profit.

HMRC has been concerned for some time about high levels of non-compliance among crypto investors,” said Dawn Register, a tax partner at BDO,

And not surprising the UK are leading the front
And the statement of non compliance reminds me of privacy.

Source: https://www.mexc.co/en-NG/news/391751

Ms Register warns that anyone who made crypto gains in the 2024-25 financial year may have to file a tax return before 31 January, through a new dedicated section in the self-assessment form.

"HMRC is also looking to encourage voluntary disclosure where people have unpaid tax in earlier years and want to correct their affairs," she says

This Wowed me.

https://www.google.com/amp/s/www.bbc.com/news/articles/ckgl2je65klo.amp

We don't need a crystal ball to realise that

1. Privacy even while been fairylike is becoming mythical

2. Things or tools that can help with privacy maybe seriously attacked to prevent any unturned stones

3.AML is going off the roof and cypherphunk mindset would be proudly tagged Villains

4. Centralized reporting creates more risk to data breaches and makes exchanges fat cows for hackers

5. Tech developers could be 'regulated' to create compliance for such rules


What are your thoughts on this?

[Some keynotes I would add.]

This reminded me again about the dangers one is facing when they are making a transaction
Without privacy in place.

Some keynotes I would add.

1. The pseudonymous of Bitcoin means nothing if your address is linked to your real life character

2. Separating your funds means nothing if you are going to make a transaction between them because the blockchain is transparent.
People can track your transactions.

3. LN gives some level of privacy globally thanks to onion routing but not with your peered.

4. Transferring to a CEX can break linkage but your info are saved and you run the risk of your funds been confiscated easily.
Mind you they own your KYC.

5. Learn Coin control so you can freeze UTXO from dust attack which usually affects privacy

6. Bitcoin isn't anonymity but pseudonymous.

7. Don't have the mindset that privacy is only important to big holders.

Someone said something on Altcointalk and it got me thinking why do government need Bitcoin?
Yes I'm genuinely curious. I'm not talking about generic answers like making a strategic reserve or the likes
Something that would make them neglect the fact that Bitcoin is decentralized and doesn't need a Central Authority.

So I recently found out that during satoshi era like pre ASIC
All nodes were miners.
https://bitcointalk.org/index.php?topic=48.msg310#msg310
As can be seen by the post of Theymos, he was rewarded with a fee as well as the Block reward as a Node
Further reading made me realise that miners and nodes were used interchangeably and Not separated like we have today.
And the model that one machine does everything stopped making sense.

The world changed and Bitcoin adapted, which shows that it's inevitable for Bitcoin to remain same as the world is changing.

Okay I couldn't think of a good subject /title.

This idea came as a result of Gloria recent words "These like nutty, carnivore, narrow minded, redneck #bitcoin maximalists"
I don't really know how people see it, but I believed Bitcoin maximalist are individuals that care about decentralization not that other coins are scam
Even if majority are.

So it brought the question, shouldn't a Coredev for Bitcoin be a maximalist?
I know people think it's a narrow minded POV. Like I said I believe it means staying true to Bitcoin ethos.


Another point was her answer on NFT. She said if it's reasonably done (if I remember correctly)
Who decides what's reasonable?
What is considered reasonable?



No I'm not trying to attack anyone. Just confused on the thought process can't really compare to her knowledge
So there might be something I don't know.

[Does Holding Bitcoin stop it from being money?]

Okay maybe obsolete is a strong word.

A lady from X posted something that entails that she thought Bitcoin was meant to be held.
I believe this is now one of the most popular attribution of Bitcoin in accordance to being a speculative asset.

The Government label it Digital Gold hence should be held to bypass the notion it's money
Institutions label it as Digital gold too. I'm not talking about strategy (okay I'm talking about strategy)

We only see minority that call it money. Yes I won't deny the fact that it's playing the role of store of value well
But majority don't even know it's money.

Does Holding Bitcoin stop it from being money? No. It just limits it's function as a medium of exchange
But stays true to its role as a store of value
Which is a criteria of being money something Fiat is proudly failing at.
Unit of account is something I believe we relatively poor at since most time we subconsciously associate it's value to dollar.

Would I stop holding? No. Gresham Good and bad money explains that
People hoard good money (rises) and use bad money (falls)
But I'd use my Bitcoin rather than Fiat for international or cross border transactions
Too lazy to go through banks and protocols.


I know some people may argue why spend your Bitcoin when you know it would rise
But what's the essence of money or growing wealth if it won't be spent. Biased POV. Not a financial advice.

I really didn't want to create another topic on this debate since I believe we already have too much.
But I believe this would bring quicker response to my question.


I'm quite confused about something, I'm aware from the current update core nodes would allow larger OP_RETURN transactions while knot is enforcing stricter limit.
And that mempool policy is different from consensus rules. And every node still has to accept valid blocks no matter what's inside.

1. If all nodes must accept valid blocks, what difference does running knots make except rejecting OP_RETURN larger than the previous limit in the mempool?

2. Is this why luke wanted  a fork? Because only through changing consensus rule can they really prevent 'spam'.

Before responding to my first question, I'm aware that nodes have to broadcast the transaction
But at the end of the day miners decides which transactions are included in blocks
And profit wise, I doubt miners would choose knot well keeping CSAM constant.



Mod can combine it with existing thread if they believe is better. Thank you.  

[Challenges?]

like the title stated. Broken images from imgur.
There are images that were posted in the past especially to educate that hasn't been updated
And been curious what was posted before.

Yes users like Try Ninja brought a solution(s) [Script] Imgur to TalkImg - automatically fix your broken images[/li]
[li][Script] Fix broken Imgur images forum-wide (client only)
Which requires running a script or an extension which  I'm not really a fan
Or you can try Bitcointalk webarchive, I sadly can't don't know how to  use it since the image is still showing broken there
https://web.archive.org/web/20140501110511/https:/bitcointalk.org/index.php?topic=1756.0

Long story short, I'd like to share what I use now. Nothing mind blowing but not without its challenge.

I make use of the forum Altcointalks.

First, quote the image you planning on checking and copy the URL
 
Second paste in Altcointalks like you making a thread or replying

Thirdly, Click on preview and your image arrives. You can choose to re-download and upload via Talklmg if you want to.

Challenges? Cloudflare when accessing the site , slower while using Tor.

Why is it working there and not on Bitcointalk?
Well this should answer it

It looks like imgur is no longer blocking the image proxy. I didn't change anything on the forum's end, so imgur must've loosened up their limits. I guess it's not necessary to convert img images into links as long as imgur keeps working. But to prevent this from happening again, you'll get an error if you try to embed imgur images in posts from now on.

Thanks for having the time to read through my almagamation of words

P.S would Gladly appreciate input in creating threads. Always never liked how mine looks 

[AML, Anti Money laundering]

Few months ago, The US rather than choosing the route of buying bitcoin for their SBR
Chose getting from seized coins AKA tainted coins as they call it.

Before I start I would advice individuals that don't really understand UTXO and dust attack to check out this threads before proceeding.
[Edu] Bitcoin Wallet UTXO and Consolidation
[Edu] Bitcoin Wallet Dusting Attack and UTXO Control.


Now what role does Dust attack play here?
Bitcoin makes use of UTXO just like Banks make use of account balances.

Normally dust attacks are usually used to denonymize an address i.e bridge privacy
But with the AML and the classification of coins as clean and tainted its danger has grown more.

If an individual owns a clean Bitcoin UTXO and a supposedly tainted address sends a tainted UTXO to them
If spent the transaction would be considered tainted according to AML mind you there's no tainted coin according to Bitcoin protocol..


If you read that link you should understand what Coin control is and how it can help mitigate such
But not many are aware of it nor does all wallet support such.


This easy route they have taken is going to affect innocents and another sign that with growing interest
Regulations may get stricter that coins not in exchanges are own by scammers
Worse scenario so don't mind me....... Or do

AML, Anti Money laundering looking good in paper(preventing illicit funds and shii) but it can serve as a way the government can legally steal ones funds.
It's arbitrary and lacks real transparency
Bitcoin is money
And money should be fungible.

If not properly checked dust attack can taint your UTXO.  

Contributions would be appreciated. Thank you.

[For those that want to confirm if it's true, I wanted to do the same until I saw a user That did.]

Maybe not the title I want but it sounded easier in my head.
The essence of the thread is to share a case I came across on how google collect our data.
Not a fan of much talks so I'd share the image.


https://x.com/kyusaaku/status/1967046754060431365?t=TXxXfApR7sBaJc9ngPRjPw&s=19

For those that want to confirm if it's true, I wanted to do the same until I saw a user That did.


As can be seen in the image, Google log our searches (incognito changes nothing) hence their personalized ads.

I'm bringing to awareness to those that ain't aware, Google isn't a search that cares about your privacy
You can check out this thread if you interested in doing better
Let's talk about Privacy


P.S found it funny because it makes it seem like they are under the radar of the FBI