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January 19, 2020, 03:09:39 AM *
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1  Bitcoin / Hardware wallets / Re: Is Ballet wallet safe to store bitcoin? on: January 17, 2020, 05:45:40 AM
It looks user friendly, but that's probably where the positives end. Here is a thread with good discussion about its safety features (Spoilers: it's quite negative). I get that they don't necessarily hold the private keys, but I'm sure most people would prefer generating their own.

I probably wouldn't mind keeping a small amount in one, but a cold wallet is essentially useless if you can't trust it to house a significant portion of your savings lol. To each his own though I suppose.
2  Other / Beginners & Help / Re: Windows 7 stopped product supports. Please upgrade your Windows and wallets ASAP on: January 17, 2020, 03:12:23 AM
Just to add, if you're still using a potato PC along with your Windows 7 (like 1GB or 2GB RAM which can't really run newer OSes properly anymore), and don't want to buy a completely new system to go with a secure OS, you can use Lubuntu, which is basically a much more lightweight flavor of Ubuntu:

https://lubuntu.me/

It doesn't take up much space either, so it should also be viable for dual booting even for older machines. It's also perfect for converting old laptops and such into air-gapped cold storages.
3  Bitcoin / Bitcoin Discussion / Re: Bitcoin Solves This: Bill Gates Talks About the US Wealth Gap on: January 16, 2020, 08:06:07 AM
I'm not saying that it's his fault that he's rich but he is certainly adding to the existence of the gap.

That's great and all, but what is he supposed to do at this point? Redistribute his wealth? He's already doing that through his charities lol.

Sitting in a Tesla and complaining that the world is getting polluted because of all those other stinky cars is as dumb and self-centered as it gets.

How is this even remotely close to what he actually said? He was pushing for higher taxes for rich people lol. The ideas he was proposing were completely anti-rich. He wasn't complaining about the gap, he was thinking about solutions on how to reduce it, and it requires zero adjustments from people riding stinky cars. As for climate change, he does have his own stance, and it's mostly about spending money on R&D, precisely so poor people (and everyone else really) would have actual viable (i.e. not anti-poor like everyone should buy Teslas) options to reduce their carbon footprint.

The poor get poorer and the rich get richer in this world. That's the way it is and that's also how Gates made money from money so he can spare us his bullshit.

That's capitalism for you, which Bitcoin ironically enables. The reality is, we all play under the same rules, we just get away with more stuff the more money we get. This is precisely the same situation in Bitcoin where whales are able to throw their weight around -- such is the price for freedom. Don't hate the player, hate the game.
4  Economy / Economics / Re: CEO of $150B investment fund says:it's just about time for the dollar to weaken on: January 15, 2020, 01:46:31 PM
Weaken against what though? Against which currencies?

Everything, pretty much. What this primarily means though, is that the US Dollar Index falls.

Either way, wasn't Trump talking about wanting to weaken the USD a while back? I'm not sure how weak Gundlach is talking, but the constant printing really might be intended to weaken it.
5  Bitcoin / Bitcoin Discussion / Re: Bitcoin Solves This: Bill Gates Talks About the US Wealth Gap on: January 15, 2020, 10:29:45 AM
Bitcoin CAN solve this problem if it is NOT prevented by the banking system.

How so? Anyone can do what they want with Bitcoin, regardless of what their bank is saying. Even then, that doesn't change the fact that the ultra rich can buy more coins than us poor folk, so if anything, Bitcoin helps their wealth even more than ours.

Look who's talking. One of the richest people in the world complains about inequality. He's like a fat pig bathing in champagne that looks out the window, sees a hungry dog chained to a post and screams -poor guy, find some food or you'll die! World is so unfair!

Uh, what would you rather have him do? Would it be better if he ignored the issue completely? I'm not saying that Bill Gates is the paragon of all goodness, but the rich people hate has gotten out of hand. The wealth gap isn't entirely their fault.
6  Other / Beginners & Help / Re: Don't be a victim of second scam. on: January 14, 2020, 01:17:19 PM
Just to clarify, most of these services won't promise to reverse transactions; most offer their services to track down the scammer and go after them with legal remedies. It must also be noted that there actually are legitimate entities that offer this kind of service like Ciphertrace, so it's not like people should be avoiding it like the plague.

Either way, asset recovery services shouldn't be able to offer any guarantees, so be especially wary of those. Just make sure you do your due diligence in finding a legitimate service, but then again if you were already doing that in the first place, you probably won't get scammed.
7  Bitcoin / Legal / Re: European Crypto Firms Brace for Higher Costs as AMLD5 Takes Effect on: January 14, 2020, 12:00:59 PM
Where are all the persons praising Europe as the crypto heaven when Binance moved to Malta, followed by Bittrex. Roll Eyes

Malta was branded as such precisely because of its regulatory framework, not the lack thereof:

The Authority acknowledged the regulatory challenges that the crypto sector is facing, saying that “the innovations in blockchain and crypto technology present challenges in the prevention of money laundering and terrorism financing.” That’s why the MFSA will employ so-called “SupTech” intelligence tools, which will put regulators in a better position to identify fraud, prevent money laundering, and funding terrorism. In other words, Maltese regulatory bodies will start to take progressive approaches and actively monitor licensed crypto service providers using a more advanced tool.

I imagine the AMLD5 won't change much for larger firms, but I suppose that would depend largely on the added costs. If Malta is already actively implementing these AML regulations though, it's possible that exchanges might not have to adjust much.

I'm a big believer in free markets and principles like caveat emptor. Common sense always told me to stay away from anonymous, fly-by-night companies. To me, you're just rationalizing nanny state regulation. There is nothing "positive" about it.

Well, beyond protecting the public, the article did mention that financial institutions could play nicer with crypto once it all goes down. Whether or not that's a positive thing probably depends on the individual though lol.
8  Economy / Service Discussion / Re: Generating Bitcoin on the side? on: January 09, 2020, 03:47:50 PM
I have looked into may different websites that claim to use your pc to gather bitcoin,  in return for a small %. I am not sure but this doesnt seem very legit to me. Would it be more worth for me to invest in my own set up?

This isn't possible for Bitcoin at all, but is probably possible for some alts. In this case though, there's really no advantage to having a middleman. Whether or not it will be worth it depends on your hardware, electricity rate, etc. though. You can then easily exchange the alts you mine for Bitcoin.

If you're in this to gamble, I would recommend that you stick to buying Bitcoin. If your anonymity is a concern, you can use services like mixers or CoinJoin.
9  Bitcoin / Bitcoin Discussion / Re: Why the price in iran of bitcoin is manipulated on: January 06, 2020, 07:16:17 AM
-snip-

that "edit" is also wrong. nowadays they are turning Iran into China as far news goes (eg. China banned bitcoin!). they release some nonsense not at all researched article and people eat it up.
the fact is that the "official rate" of USD in Iran is around 12k which is also the street value of it and with that rate you can see that bitcoin is being traded around the same price that it is everywhere else. and nothing has changed over the past couple of days that this news keeps coming out.

as for 42000 it is not "official rate". USD has one rate but this low value is the rate that government sets for importing certain basic needs such as medicines so that it can prevent super inflation of these items.

It's a worthless article for sure, but how is their clarification wrong? From what I can tell by your explanation, you basically just said the "official rate" isn't the government rate, but rather the street value. If we take semantics a bit more loosely, you're both saying the same thing: that Iran's government has its own dictated forex value (which the article refers to as the "official rate", whereas you simply describe it as government-set value) separate from its actual value (which you refer to as the "official rate", or street value which you and the article agree with), and that no one really uses it.

...or did I misunderstand you somehow?
10  Bitcoin / Bitcoin Discussion / Re: Why the price in iran of bitcoin is manipulated on: January 06, 2020, 02:03:27 AM
The article has been updated since you posted it:

Quote
In reality, it is not uncommon for countries with weak national currencies — such as Venezuela — to have dual exchange rates: one “official” rate set by the country’s central bank and the other, the actual market rate, or the real amount of dollars a regular person would get for their rials.
[...]
In other words, while the “official rate” is around 42,000 IRR per 1 USD — which would result in the $24,000 price per Bitcoin — the actual rate in the street would give one something closer to BTC’s actual global market price, currently around $7,300 USD.

So no, there's no manipulation going on, and there's probably no premium for Bitcoin either.
11  Economy / Economics / Re: Halving is approacing: HOLD YOUR BITCOINS AND NEVER SELL THEM on: January 01, 2020, 08:37:00 AM
Even if historically speaking Bitcoin goes up every time halving happens

The thing is, halvings haven't had any immediate effects on prices. We associate halvings with growth because of charts like OP's, but that doesn't necessarily have to be the case -- growth could have come without the halvings, and we wouldn't really know.

I agree that HODLing is the best course of action if you want to gain in this scenario, but only because it's the best course of action is most scenarios. People looking forward to the halving are very likely to be disappointed, and disappointed market actors often lead to a falling market.
12  Bitcoin / Legal / Re: Kraken sued by ex-employee on: December 20, 2019, 03:08:56 AM
Regardless of whether he's telling the truth or not, is it possible for Kraken to try to settle out of court? This is just a discrimination suit after all. If so, what will happen to the shady business practices allegations? I imagine regulators are going to be watching this very closely, but I don't know if they could actually use a dropped lawsuit as a basis for an investigation.
13  Bitcoin / Bitcoin Discussion / Re: Craig Wright: "BTC is not Bitcoin" on: December 18, 2019, 09:10:25 AM
Did you guys read the video's description?

Quote
Also known as Faketoshi, since no one believes that he is really Nakamoto, especially because he has never been able to prove it, Wright talked with us about what people mistakenly believe is Bitcoin.

LOL the disrespect straight from the video uploader. This kind of proves that outlets only really interview him for added exposure to their platform, not because they want to hear his thoughts.
14  Bitcoin / Bitcoin Discussion / Re: Do you believe in BTC "Energy Value Oscillator" theory? on: December 18, 2019, 05:45:59 AM
I personally don't. The amount spent on mining Bitcoin doesn't have anything to do with its market value because the market doesn't care about that. Unlike traditional physical goods, manufacturers (miners in this case) don't get to dictate the selling price of their product (Bitcoin), so their production cost doesn't really matter in pricing.

There's bound to be some correlation because miners have to adjust to actually profit. Let's take Litecoin as an example: its price should have skyrocketed after its halving because it costed significantly more to mine, but miners turned off their machines instead because they have to follow the market, not the other way around.
15  Other / Off-topic / Re: smartphone privacy oriented on: December 16, 2019, 09:32:35 AM
I will probably get another Motorola or Samsung

You may want to avoid Motorola if you're going for privacy. It's owned by Lenovo, a Chinese company, which may be compelled by the CCP to hand over user data by law.

It's true that we don't have a lot of options with the Android/iOS duopoly, but Apple is probably the lesser of two evils privacy-wise. I would also argue that they have longer lifespans, considering they update their devices for up to five years unlike Android OEMs, most of which only update for two. They have competitive battery life now too, contrary to their past reputation. I don't even think they're necessarily overpriced anymore, with the iPhone 11 being even cheaper than the Samsung Galaxy S10. You should probably give them a second look, and that's coming from someone who has primarily used Samsung phones for the past 6 years or so.
16  Other / Beginners & Help / Re: Is buying bitcoin using ewallets like Paypal safe? on: December 16, 2019, 01:53:22 AM
I wanted to know if at least buying BTC using traditional e-wallets like Paypal is safe, or can third party type scam be pulled even there?

Once the coins are sitting in your wallet, that's final. The only scam that can be pulled off against you in this scenario is they don't send the coins at all, and even then you could probably chargeback. The seller shoulders all the risk, basically.

I should also note that offering to buy Bitcoin with Paypal in this forum can get you red-trusted unless you already have a good trading reputation, so I would advise against it.
17  Other / Beginners & Help / Re: Avoid Clipboard hacking on: December 11, 2019, 01:45:14 AM
Reading this article that I have found might give some ideas on how to avoid and the solution for hacking through the clipboard.
Why you should never copy/paste your passwords?

This is hardly a threat because no one uses IE nowadays. No such attack should work on any modern browser. Copy pasting is not an issue for as long as your system isn't compromised.

What this does, however, is show that scripts can be dangerous. Everyone should have script-blockers (NoScript for Firefox, ScriptSafe for Chrome) on their broswers nowadaysj to make sure they don't get randomly attacked.
18  Bitcoin / Bitcoin Discussion / Re: What Happened To Bitcoin’s Promised Influx Of Institutional Investors? on: December 10, 2019, 05:46:15 AM
I'm not sure where exactly they are, but even traditional financial entities are essentially expecting them by preparing custodial solutions for them:

Bakkt expands into custody
Fidelity launching custodial services

As to whether they simply want first-mover advantage or is actually catering to already-existing demand out there, us small players can't really know yet. I'm taking it as a positive sign on that end though.
19  Bitcoin / Bitcoin Discussion / Re: Why Did Satoshi Nakamoto Choose 21M as Bitcoin’s Maximum Supply? on: December 04, 2019, 09:02:55 AM
If we want to take Satoshi's words for it:

My choice for the number of coins and distribution schedule was an educated guess. It was a difficult choice, because once the network is going it’s locked in and we’re stuck with it. I wanted to pick something that would make prices similar to existing currencies, but without knowing the future, that’s very hard. I ended up picking something in the middle. If Bitcoin remains a small niche, it’ll be worth less per unit than existing currencies. If you imagine it being used for some fraction of world commerce, then there’s only going to be 21 million coins for the whole world, so it would be worth much more per unit. Values are 64-bit integers with 8 decimal places, so 1 coin is represented internally as 100000000. There’s plenty of granularity if typical prices become small. For example, if 0.001 is worth 1 Euro, then it might be easier to change where the decimal point is displayed, so if you had 1 Bitcoin it’s now displayed as 1000, and 0.001 is displayed as 1.

So yeah, there are a lot of theories, and some may actually convenientrly make sense, but at the end of the day Satoshi himself said it was an educated guess.
20  Bitcoin / Legal / Re: China’s ‘Silicon Valley’ Identifies 39 Cryptocurrency Companies As Illegal on: December 04, 2019, 05:21:45 AM
but there is rumor going on that there will be a real official licence to exchanges soon

Do you have a source for this? I'm not sure if things have changed since (this is from November 2, 2019), but Binance's CEO and other people based in the PRC debunked a photo which some people claim to be an official crypto exchange license:

On Oct. 30, an analyst claimed that a photograph of a cryptocurrency trading license issued by the Chinese government has leaked, indicating that crypto exchanges are allowed to operate within China.

However, Zhao and other investors based in China including Primitive Crypto founder Dovey Wan said that it is a basic generic business license containing the phrase “trading services” and that it does not represent a crypto trading license for local companies.

Considering the risk of capital flight and China's shaky position at the moment, I don't think they'll be allowing exchanges to operate freely and legally anytime soon.
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