Bitcoin Forum
April 14, 2021, 06:00:00 AM *
News: Latest Bitcoin Core release: 0.21.0 [Torrent]
  Home Help Search Login Register More  
  Show Posts
Pages: [1] 2 3 4 5 6 7 8 9 10 11 »
1  Bitcoin / Bitcoin Discussion / “Bitcoin is the laughing stock of our firm” on: April 12, 2021, 09:19:18 AM
There are people currently like this today, as there was 8 years ago. Nocoiners. How long must the network run before they can admit that Bitcoin, and the idea of Bitcoin, has opened a Pandora’s Box, never to close again.

How high must Bitcoin’s price go before they accept it as a self-sovereign Store of Value, HODLed as a hedge in case the Fed/Central Bank, and the government loses control of the financial system?
2  Bitcoin / Wallet software / Exodus Wallet IPO on: April 09, 2021, 05:48:06 AM
Investors interested in the IPO can buy shares through the wallet, but verification of your identity is required.

2021 - 2022 will be the years of the companies that were built and developed as a Bitcoin service first in my opinion. Bitcoin is going mainstream, and it’s becoming very very close to be a house-name, like McDonald’s. When will the nocoiners accept it? How long must the network run? How high must Bitcoin go? Hahaha. Cool


OMAHA, NEBRASKA — April 8, 2021 — Exodus Movement, Inc., a Delaware corporation that has developed a leading non-custodial cryptocurrency software platform, received notice that the Securities and Exchange Commission has qualified its offering of Class A common stock under Regulation A. The company will begin offering shares in the Exodus Wallet at 9:00 pm ET today.

3  Bitcoin / Bitcoin Discussion / Paris Hilton has joined Bitcoin’s “laser eyes to $100,000” on: April 03, 2021, 08:57:02 AM
OK, which one of you did this? This here is her actual profile picture in Twitter. Paris Hilton now has currently joined the Bitcoin community’s “laser eyes to $100,000”. I believe Bitcoin has reached its own success in becoming a household name. The narratives and the memes of the HODLers can be sometimes stupid, but they were good enough to reach more people. Cool

4  Economy / Service Discussion / Alternative for on: March 26, 2021, 12:50:23 PM
For maybe currently 4 weeks, has not been working well. First two graphs were removed, Mempool size in transaction count, and Mempool size in transaction fees, Mempool size in MB was remaining. Today, it’s just a blank page.,24h

Does anyone have links for good alternatives.
5  Economy / Economics / Big test for Bitcoin during the next Economic Collapse. on: February 22, 2021, 11:19:50 AM
I am starting to believe that Satoshi created Bitcoin for what’s coming next, or might come next. Because of the COVID-19 pandemic, I’m not sure about the rest of the countries, but the United Stated Federal Reserve prrrrinted inordinate amounts of U.S. Dollars to stimulate the economy, with plans to print trillions more under President Biden. All the prrrrinting and a falling GDP MIGHT be the seeds for the worst situation of an Economic Crisis. HYPERINFLATION.

Bitcoin has been criticized as a medium “for speculation”. Big test. Is it just merely “for speculation”, or an actual “safe haven”? Will Bitcoin crash together with the rest of the economy, or will everyone run to it as a Store of Value?

6  Economy / Economics / Are institutions hedging? on: February 11, 2021, 05:20:22 AM
There’s a topic debating that institutions are manipulating the market, and will “destroy Bitcoin”. I have a different narrative.

While it’s great that Elon Musk and other companies are HODLing bitcoin, but don’t you think that there is more into their FOMO, than profit? Are they actually hedging against the current financial system? If the answer is yes, are they expecting an major economic crisis after the COVID-crisis?
7  Bitcoin / Bitcoin Discussion / OK BITCOINERS, which one of you is this? on: February 08, 2021, 06:10:10 AM
He bought, and took the wrong kind of drug. I believe, mos of the time, methamphetamine hydrochloride can do that to your psyche, which might be very popular among cryptocurrency traders from the U.S., and Europe, who moved to Thailand. I saw a tweet once from someone who looked like an OG from 2012, I’m not sure, posting a plastic container full of methamphetamines.


A British cryptocurrency trader is facing life in prison after an alleged drug-fuelled shooting spree on a speedboat near a Thai island.

Benjamin Robert Simpson, 33, reportedly took meth with a speedboat captain before cruising around Koh Samui together in the south of Thailand.

Terrified hotel staff cowered in fear as the Brit fired allegedly several rounds from a handgun near the shore on Wednesday (Feb 3).

Witnesses claimed that the British man went on a shooting spree in front of the five-star hotel he was staying at before returning to his luxury room.

Hotel staff had contacted the police for help after the incident and officers rushed to the establishment to arrest the man.

8  Bitcoin / Wallet software / Is BitAddress still good for cold storage-paper wallets? on: February 01, 2021, 03:29:39 PM
Plus is it still trustworthy, or are there currently better ways to create cold storage-paper wallets?

Can everyone also confirm that this is the correct link, and Github repository?

Asking for a friend. Cool
9  Bitcoin / Bitcoin Discussion / The Bitcoin Realized HODL Ratio on: January 14, 2021, 11:36:12 AM
I found this nifty site. I hope it helps every pleb in knowing when to HODL, when to buy, and when to sell, if you have the goal of selling. Plus let it also be a guide for when to tell friends, and family to buy Bitcoin.


Indicator Overview

This indicator uses a ratio of Realized Value HODL Waves.

In summary, Realized Value HODL waves are different age bands of UTXO’s (coins) weighted by the Realized Value of coins within each band.

The Realized Value is the price of UTXO’s (coins) when they were last moved from one wallet to another.

RHODL Ratio looks at the ratio between RHODL band of 1 week versus the RHODL band of 1-2yrs.

It also calibrates for increased hodl’ing over time and for lost coins by multiplying the ratio by the age of the market in number of days.

When the 1 week value is significantly higher than the 1-2yr it is a signal that the market is becoming overheated.

How to Use this Indicator

The indicator is able to identify with great accuracy the price high of each of Bitcoin’s previous macro cycles.

It identifies the market top to within a few days accuracy.

RHODL ratio entering into the red band signals that the market is approaching the top of its cycle. This has historically been a good time for investors to take profits in each cycle.

Unlike other on-chain indicators, RHODL ratio does not give a false signal of a cycle high in April 2013. This gives it a unique advantage over other on-chain indicators.

10  Bitcoin / Bitcoin Discussion / New Nocoiner narrative, "Bitcoin is not scarce". on: December 30, 2020, 05:46:38 AM

Because according to her, Bitcoin's divisbility up to 8 decimal places will make Bitcoin "not scarce". We have also seen trolls in the forum say it. Tell these trolls that a whole pizza, divided to 8 slices of that same pizza, then further divided to 16 slices, is still that same whole pizza.
11  Bitcoin / Bitcoin Discussion / New troll narrative, "Running a full node will make you a criminal" on: December 04, 2020, 09:56:15 AM
I have seen encouraging signs of interest from users like Paleus,

The TROLLS, whether nocoiners or big blockers, probably have seen those signs too, and have started another campaign to spread FUD and disinformation.

 Roll Eyes
12  Bitcoin / Wallet software / Bitkey for cold storage on: November 19, 2020, 08:42:24 AM
I saw some topics suggesting their cold-storage strategies. The idea of this Debian-based distribution might also be useful/helpful, and make your cold-storage needs easier and more manageable.

The software included IS outdated, be careful.


Bitcoin Swiss Army Knife in a verifiably secure self-contained Live CD/USB. Supports air-gapped Bitcoin transactions. Makes offline cold storage (slightly more) practical.

13  Bitcoin / Bitcoin Discussion / Are people giving up on Bitcoin too quickly? on: October 07, 2020, 05:23:55 AM
I have been reading many posts that show signs to be that people are giving up on Bitcoin's technical development to become an actual currency, and also shows signs to be ready to sell after the next surge to ATH.

I believe it's too soon. Bitcoin's benefit for improvement outweighs the cost in my opinion.

14  Economy / Economics / Are the Central Banks starting to worry about the public's perception? on: October 01, 2020, 10:17:11 AM
I believe deep inside them, those people behind the Central Banks, they know that "the cat is out of the bag". Billions and billions of the paper money they print will shift into sound money, Bitcoin.


"We must explain much better to the general public what we are doing and why. Monetary policy can only be credible if we ensure that our goals are truly understood and shared by the people we serve".

15  Bitcoin / Bitcoin Discussion / Educational Bitcoin topics topic on: September 01, 2020, 07:32:50 AM
I found this Twitter thread with full of basic topics and explanations that would be good for newbies to learn from, and for long-time Bitcoiners use as a reference point.

Topics include,

- Hash Functions
- Introduction to mining and the blockchain
- Anatomy of a Bitcoin transaction
- Transaction fees in Bitcoin
- Internet censorship and Bitcoin

Let's learn together!
16  Bitcoin / Development & Technical Discussion / Are blockchains truly distributed systems? on: August 28, 2020, 07:41:43 AM
Yes? But in a "distributed blockchain network", it might the the opposite of "distributed", because every node must validate every participant's transactions/messages, taking the processing by themselves.

Have we misunderstood what it truly is?
17  Economy / Economics / Your economic outlook and your life for 2021 poll on: August 22, 2020, 12:37:15 PM
COVID-19 has destroyed many small business, with the bigger businesses taking their share of the economic pie. I believe many people lost jobs, but some are doing OK.

Curious, as Bitcoiners, how did the COVID-19 pandemic affect your financial situation, and what is your outlook for 2021?
18  Economy / Trading Discussion / For losing active traders, Indexing is for you on: August 20, 2020, 10:59:21 AM
I have been telling everyone to HODL Bitcoin as a safer strategy, but I believe many of you don't have the patience for a long term, low time preference form of investing. Then I believe if you're a losing active-trader, indexing might be for you,

It's less active, more passive than day-trading, and I believe safer. Cool
19  Bitcoin / Bitcoin Discussion / Segwit, and batching, a must in these times on: July 30, 2020, 11:13:41 AM
Because of a surge in demand, Bitcoin's mempool is flooded, and the blocks are full, taking network fees higher, and our transaction confirmations longer.,24h

Veriphi wrote a case-study and found that the network, and ALL of its participants together, could have saved $500,000,000 in fees through Segwit, and batching.

I'm merely spreading some awareness for us to learn about the benefits of batching, and maybe for everyone to ask their favorite Bitcoin exchange/casino/merchant/service to start using it, to help decongest the network, and help ALL its participants save more.


The purpose of this case study is to determine the savings benefits that employing SegWit and Batching in Bitcoin transactions would have had, had there been a full adoption. Nearly half a million blocks of transactions have been scrutinized in order to calculate the amounts of bitcoins and mega- bytes saved thanks to these technologies. The savings potential presented is signi cant and those conducting large amounts of transactions should seriously consider employing these tools in order to remain competitive and save money.

Major takeaways:

* From January 2012 to June 2020 ( until the 637,090th block) 211,266.95 bitcoins were paid in fees to miners. This amounts to a total of around $1,954,219,287 USD with a Bitcoin price of $9250.00 USD at the time of latest update in July 2020. 

* Over 21,131.97 bitcoins could have been saved by Bitcoin users if they would have all been using Transaction Batching. 190,134.98 bitcoins could have been paid in fees instead of the 211,941.32 bitcoins, which represents savings of 9.97%. The 21,131.97 bitcoins saved represents a staggering amount of $195,470,722 USD (with a Bitcoin price of $9,250.00 USD).

*  From August 24th 2017 to the 30th of June 2020, 36,685.72 bit- coins could have been saved by Bitcoin users if they would have all been using SegWit Native (Bech32). Fees would have amounted to 59,848.61 bitcoins, down from 96,534.33 bitcoins actually paid in fees, which is 38.00% in savings. The 36,685.72 bitcoins saved represent $339,342,910 USD (with a Bitcoin price of $9,250.00 USD). 

* The advantages brought through optimized fee management techniques such as SegWit and Batching are mostly impressive and apparent during high transactional activity periods. A large percentage of the possible savings would have been achieved in only a few months over the spawn of 8 years and 6 months analysed. 

* Bitcoin market actors, such as exchanges, should strongly consider imple- menting any optimized fee management techniques with clear nancial advantages. In anticipation of future price appreciation and higher trans- actional activity, Bitcoin users have to acknowledge that bitcoin transac- tion fees will continue to rise and prepare consequently. 

What is Batching?

Bitcoin transactions include inputs, the coins being spent, and outputs, where the coins get sent. In contemporary wallets and applications, Bitcoin transactions have at the very least 2 outputs for the most part, one where the money gets sent and another where you get your change back to another address you control. What if you want to send funds to multiple addresses? You could make two transactions with each two outputs including the change output, however doing so makes you pay fees for every separate transaction. You could instead use Transaction Batch- ing. Brie y, this technique simply signi es having more than 3 outputs in a transac- tion, thus making a payment to two different parties at the same time.

A typical P2PKH (Pay to Public Key Hash) Bitcoin transaction (As seen in Figure 2) containing one input, an output and a change output would be 226 bytes in size. Knowing this, every additional independent transaction would then at least have another 226 bytes. For entities making multiple transactions, the fees paid can add up quickly. Imagine having the below image multiplied by every individual transac- tion you make.

Bitcoin used to have a limit of 1MB for every block of transactions. Since this limit was replaced with a block weight limit that can reach 4MWU, we can calculate that if all the transactions in a block were using SegWit, the block size could reach 2.4 MB. Even though we can t more transactions now, the case still is that we can only t a certain amount of transactions in every block depending on their sizes. The larger transactions must then pay a greater amount in fees if they want to be included in a block, since space is limited. The impact of Transaction Batching becomes more apparent the more transactions we make.

Benefits of Batching

The input of the above transaction represents about 65% of the transactions (148 bytes) and the outputs around 30% if we assume it has a change output. In order to save on fees paid when making multiple transactions, you can either use as few inputs as possible by consolidating your UTXOs, or you can use Transaction Batching, where the output part scales linearly but the input part stays the same, no matter the amount of outputs.

By aggregating multiple outputs into a single transaction, you are effectively saving up on space required for your payments, thus reducing the amount of fees paid to miners. Instead of making a second separate payment of 226 bytes, effectively doubling your fees, you are instead paying 15% (34 bytes) more than the single transaction for each output (as seen in Figure 3).

The savings further increase the more outputs you add onto the transaction. A batched transaction that contains 10 outputs represents 25% of the total byte size of 10 individual payments, saving you up to 75% in fees paid.

Batching also has the bene t of minimizing your UTXO set since you’d only have one change address per batched transaction instead of one for each in- dividual payment made. By reducing your number of change outputs you are further saving on fees spent since a change output typically takes up at least 69 vbytes when spent later on.

There are however potential privacy concerns when it comes to batching. A user can very easily see every other address that received a payment in the same transaction, or someone else analysing these transactions can identify users whose public address is known and tie them to an exchange with an amount. On the other hand, even if the transactions are done separately, those links can still be inferred by analyzing the change outputs.

Batching is a simple yet effective method to implement in order to save on fees paid by making your payments more ef cient. Large scale organizations that have multiple transactions per day can greatly bene t from batching, especially during times when fees spike like in the December 2017 to January 2018 periods where fees rose signi cantly in USD terms. As your number of payments increases, there are potentially huge savings to be made which in turn can either increase your revenues or be passed along to your customers.

20  Bitcoin / Bitcoin Discussion / Band-aid solution for the dilemma? on: July 07, 2020, 09:55:10 AM
Shower thought, would it be a good move for theymos to copy all content from and serve it through, and move the forum to
Pages: [1] 2 3 4 5 6 7 8 9 10 11 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!