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501  Other / Beginners & Help / Re: 773M Emails Hacked on: February 04, 2019, 05:37:25 AM
So the hack's origin is apparently unknown, and could very well be just a collection of past hacks:

Q. How long ago were these sites breached?
It varies. The first site on the list I shared was 000webhost who was breached in 2015, but there's also a file in there which suggests 2008. These are lots of different incidents from lots of different time frames.

It's no reason for immediate panic, but it's a wake up call to people who reuse their passwords nonetheless. It's also worth noting that some email providers are better with security than others. Remember the Yahoo breach?
502  Bitcoin / Legal / Re: filing tax on hodling on: January 31, 2019, 06:25:43 AM
There are actually very specific guides that cater to people who churned out a loss in the US. Here are a few:

Either way, it can get very complicated very quickly especially if you haven't been cashing out or trading at all. I would recommend you contact an actual professional.
503  Bitcoin / Bitcoin Discussion / Re: Another ETF proposal : Bitwise on: January 25, 2019, 08:44:41 AM
It is quite a pity that Bitcoin has now become under the mercy of the regulators who are in the first place one of the big reasons why Bitcoin came into being and that is to bypass them altogether so we can never anymore be under their control.

I feel like that's taking it a bit too far considering this is just an ETF. The SEC's decision won't have any fundamental effect on the Bitcoin network or its transactions at all.

But then reality struck and reality bites so now the so-called bull run is hinged with the approval of any ETF applications now under the desk of the SEC. On the contrary, I don't believe that ETC can be the right trigger for any bull run. It must be the demand for Bitcoin and there is no guarantee that the ETF can be providing this demand in the first place as all of these things are just speculative. However, don't get me wrong as I am also excited in cases an ETF can be approved.

Yep, ETF approval is just one of the many possible catalysts. It's also the most obvious one at the moment, which is why people won't stop clamoring for it.
504  Economy / Economics / Re: Russia Prepares To Buy Up To $10 Billion In Bitcoin To Evade US Sanctions on: January 25, 2019, 07:53:15 AM
In fact, you said that gold is the superior option short-term

But that's a minor transgression, really. The much bigger one is that gold is not good even for long-term investment or holding (call it what you like) for nation states unless you control the world gold trade (read, can set prices as you see fit). And it is definitely not Russia which controls it. Buying gold is a poor man's choice, only at a national level. Russia is freezing their resources in gold which means losing time and opportunity

Okay, let me reclarify my position. I never once mentioned anything about gold or Bitcoin as an investment. I was talking strictly within the context of Russia diversifying from the USD, keeping their money's value given the choice of gold vs Bitcoin. In this case, I said, gold would be much better than Bitcoin short-term because it is less prone to tanking -- something which may concern Russia in Bitcoin's case because they aren't exactly doing  well. When their shit hits the fan, which may happen soon, they'd probably want to hold the more reputable asset as far as the global economy goes. I concede that it may not be actually good like you're saying, but at the very least, I'd say it's less bad than Bitcoin. Either way, I agree to disagree.

If anything, they should invest these resources in their economic development instead. But the latter seems to be beyond their "capacity", and all they can do now is buy gold and a basket of foreign currencies with the dollars they receive from selling mineral resources such as crude oil, metals, natural gas, etc

I completely agree.
505  Bitcoin / Bitcoin Discussion / Re: Would it be fair to say that BTC miners are voting on the correct transactions? on: January 25, 2019, 07:13:54 AM
I could be wrong, but the way I understand it, miners can choose which transactions their nodes accept and put in a block. They're not voting per se as the confirmed transactions depend on which miner actually mines the block. I guess they can "vote" or at least let their opinions be heard by not choosing to mine certain transactions like in this case.
506  Bitcoin / Bitcoin Discussion / Re: Lightning Network: Can it be the next level of business form? on: January 25, 2019, 05:47:47 AM
Sounds bullshit to me, routing transaction fees on most LN nodes are very low (usually below 1 cents)

Making your nodes have hundred of channel isn't easy unless you're merchant, have big coin capacity or you're the one who connect to other nodes (which mean you spend transaction fees). Additionally, if you set fees for transaction routing high, LN client could route through another nodes which offer lower fees.

This is true. The way the system is set up is a race to the bottom for fees by going for quantity over quality. I wouldn't be looking at running a Lightning Network node to make money, especially not at this point where it hasn't really reached the mainstream crypto population yet.

So, it looks like running an e-commerce shop and accepting payments through LN looks more profitable than opening hundreds of LN. A lot of e-commerce already start to use LN too, according to some reports[1].


It's very much still in its infancy. It looks like they've only processed a hundred or so transactions as of the time of writing:

In an email, CoinGate said: "We have processed more than 100 payments, with no single error. In the beginning, we announced that we will reimburse losses if they occur because of a network error, but it actually never happened."

It's also not as straighforward as setting up a server and keeping it running lol
507  Economy / Economics / Re: Russia Prepares To Buy Up To $10 Billion In Bitcoin To Evade US Sanctions on: January 25, 2019, 05:15:35 AM
Gold is good for private investors (and not so much for nation states)

And only as a store of value, i.e. if you are looking to earn money with it, it is definitely not the best (or even second best) choice and option. People buy gold to store their wealth in it, but you should have already acquired that wealth in the first place and not be looking to multiply it. And physical gold is definitely a long-term investment, with investment horizons possibly exceeding decades. If you want to use gold as a short-term investment (for whatever reason), you'd better look into gold derivatives as you will save yourself a lot of overhead expenses that possessing physical gold invariably involves (buying it, storing it, and then selling it)

You may have misunderstood my point. I wasn't saying it's better as an investment short-term, just that it's one of the best options for them if they want to diversify i.e. keep their money's value. They're not turning away from the USD to make money after all.
508  Economy / Economics / Re: Russia Prepares To Buy Up To $10 Billion In Bitcoin To Evade US Sanctions on: January 23, 2019, 07:55:12 AM

That's a fair point. I never looked at it that way. I still think gold is the (much) superior option short-term though, as you don't risk it losing ~80% of its value in the span of less than a year. Either way, there's really no way for us to know what these people are doing behind the scenes lol.

That's not even a sure thing. I think we all got bamboozled. Nobody has been able to verify whether Ginko really works for RANEPA. All of this speculation was built on a few Twitter posts and zero fact-checking.

Yeah lol it's not as much a "report" as an out of nowhere claim. It did get him a small spotlight though, so good for him.
509  Bitcoin / Legal / Re: Do you have a cryptocurrency or blockchain idea for a patent? on: January 22, 2019, 08:14:37 AM
This looks like it belongs to the Services section. You'll have a lot more hits there. You can move the topic by clicking "Move Topic" on the lower left corner of the page.

Also, you may want to include references of your identity, past work, etc.
510  Economy / Economics / Re: Russia Prepares To Buy Up To $10 Billion In Bitcoin To Evade US Sanctions on: January 22, 2019, 06:19:46 AM
As I get it, no one is actually believing in Bitcoin here

And all that noise that people were making nonstop 24/7 about Bitcoin being "digital gold", "the best store of value ever", "world money", it was all thorough bullshit and elaborate lie, right? So is there a soothing light at the end of the tunnel or is it just the freight train coming our way? On the other hand, Russia not doing well financially (with that freight train coming their way) may be desperately looking for a way out ("wunderwaffe"), and in that case we can expect many strange decisions not quite in line with sound reasoning and logic, bordering on insane

I don't think it's a lack of belief, it's more of believing that Russia will not be able to afford to risk that amount for long-term gains. A lot of believers here are in for the long haul so they couldn't care less about how well Bitcoin is doing in the short term -- something that Russia should probably be very concerned about.

Large entities usually tend to stock up on whatever they plan to buy in, then have news outlets start with what seems to be an empty rumor, where after that the entities themselves confirm the rumors.

It wasn't even a news outlet. The reports apparently came from one Russian economist, and everyone just picked up on it. He does have ties to the Russian Government though, which is why he was taken seriously.

But yeah, same dude also speculated that Bitcoin will reach $2m by the end of 2019. He could very well be a sitting on a good amount and wants to make some cash. We won't know for sure though, I guess.
511  Economy / Economics / Re: Russia Prepares To Buy Up To $10 Billion In Bitcoin To Evade US Sanctions on: January 21, 2019, 08:36:41 AM
right now i not see news like this have effect to make BTC price pump too much.

only news like exchange hack can make BTC price dump more than everything

It can't, because it's based on very shaky speculation. I'm pretty sure no one wholeheartedly believes this, considering Bitcoin's recent woes and how large the amount is. They probably can't risk all of that, especially because they aren't even doing well financially in the first place. If it does happen though, I'd expect a furious bull run. I mean, Bitcoin as a reserve currency? Sign me up lol.
512  Bitcoin / Bitcoin Discussion / Re: Fake movie file infects Windows and steals or tricks bitcoin users on: January 17, 2019, 02:03:50 PM
all you need to do is to look for a premium malwarebyte and install on your computer.

Most people actually recommend that you run it in conjunction with Windows Defender, so while it's incredibly reliable, it's probably still not as reliable as you think and/or might need it to be. If you must run Windows for crypto activities, you're going to need to stop risking all of your funds for small freebies like pirated movies, software, etc., as your coins are probably worth more than they are. You have very little room for error, if any at all.
513  Economy / Economics / Re: Russia Prepares To Buy Up To $10 Billion In Bitcoin To Evade US Sanctions on: January 17, 2019, 12:33:38 PM
What if Putin is Satoshi?  Shocked

Welp, that would perfectly explain his position as a "big advocate of blockchain technology". I think you may have cracked the code lmao.

But yeah, regardless of the source, Russia hasn't even taken a clear stance on crypto right? I find this to be highly unlikely. Would they really risk that much money on a volatile asset? If this really happens though, it'll fast track Bitcoin's ascent to reserve currency status lol.
514  Bitcoin / Bitcoin Discussion / Re: Bitcoin [BTC]’s Lightning Network capacity is now worth over $2 million on: January 17, 2019, 11:34:52 AM
and yet. years later. BITCOIN has not progressed.

What kind of progress are you seeking? Scaling? Genuinely asking.

Also, doesn't Bitcoin Cash exist for people who are adamant on on-chain scaling? I'm curious as to why you want to change this Bitcoin, when there's another version that aligns with your ideologies better. I've also seen you claim that both coins are Bitcoin, so it should be fairly easy for you to pick one and stay with it. I personally choose to ignore the politics and focus on the fact that it's a good thing that there are two teams who are trying two different approaches for one goal.
515  Bitcoin / Bitcoin Discussion / Re: Fake movie file infects Windows and steals or tricks bitcoin users on: January 16, 2019, 01:21:08 PM
And I'm running Windows, and you should understand that not all are familiar with the UI of Linux.

I do not consider myself a Linux elitist, but I think it's better than Windows if you're handling sensitive material. If you can protect yourself though, good for you! I say that sincerely. I personally prefer it because I can afford to be a little more careless with my activities. I don't keep wallets on my Windows machines.

But uh, there seems to be a common misconception that Linux is hard to use. It may get daunting because there are so many flavors to choose from, but the most popular ones are user friendly enough that it shouldn't take the average joe more than a day to get used to it.
516  Bitcoin / Bitcoin Discussion / Re: Bitcoin [BTC]’s Lightning Network capacity is now worth over $2 million on: January 16, 2019, 11:43:01 AM
I'm not responding to anyone in particular, but I personally don't believe that the Lightning Network is the be-all end-all for Bitcoin. I just think that, overall, it will be for the benefit of the ecosystem. I get that there's politics behind it, which is why there are people from opposing sides preaching all the time, but eh.

If it turns out that I don't like the finished product, I won't use it. If it never progresses to that, I won't use it. I imagine most casual users are in the same position. I don't get the fuss.
517  Bitcoin / Bitcoin Discussion / Re: Bitcoin [BTC]’s Lightning Network capacity is now worth over $2 million on: January 16, 2019, 11:05:57 AM
people don't just put money in their Lightning Channels for fun, they put it there to make transactions and there are some big channels that have done it to support the network and process more transactions.

True, but it hasn't really hit the mainstream yet, and it likely won't until user experience is simplified. Then again, it is in beta, which is usually reserved for hobbyists as far as software go.

If you think about it though, $2m is nothing for a payment network. We have a long road ahead of us.
518  Bitcoin / Bitcoin Discussion / Re: Hong Kong Billionaire Backing Bakkt on: January 14, 2019, 08:24:31 AM

i doubt its a good thing if a billionaire is backing something, i dont think it will matter much anymore

I wonder why you said that. Isn't more money will a project to move much faster? I thought this was a good thing.

Some people inherently distrust rich people because they feel like all these guys do is to profit off the regular people. Not saying the person you quoted is one of them, of course, but it definitely seems like he doesn't trust rich people.

It is a good thing, as more exchanges result in a stronger ecosystem where customers choose the best service for their business.
519  Economy / Scam Accusations / Re: Litecoin Giveaway is SCAM on: January 11, 2019, 02:54:36 PM
If engaged in a giveaway and anything asides basic tasks is required to claim, and you are to reveal personal information, private keys, emails, then there's a very high probability that it's a scam.
Noovs are the ones commonly sucked into these sort of project scams, which simple inquiries could uncover.

Just to clarify for newbies, some legitimate airdrops do require personal information and/or an email address; it's up to the person to determine whether or not risking their identity is worth it (it often isn't lol). Private keys are a big no-no though.
520  Economy / Economics / Re: You were warned on: January 10, 2019, 08:24:09 AM
Just to bring another side to this story:

Tran isn’t predicting a full-scale panic resembling the 2008-2009 financial crisis, and there are some reasons for optimism. Banks are better capitalized now than before the crisis. (Bank capital — shareholders’ funds or loans — protects against losses.) People are also more sensitive to the dangers than a decade ago.

Evidence of this comes from a recent “stress test” performed on 35 large bank holding companies by the Fed. A deep recession was simulated; the unemployment rate rose to 10 percent. Despite large losses, no bank failed. Since 2009, these banks have added $800 billion in common equity capital, the Fed says.

What Tran is suggesting is a global shift away from debt-financed economic growth. The meaning of the $247 trillion debt overhang is that many countries (including China, India and other emerging-market countries) will be dealing with the consequences of high or unsustainable debts — whether borne by consumers, businesses or governments. There will be a collective drag on the global economy.

tldr; the upcoming financial crisis may not be as significant as 2008's

That being said, it's still looming and seems to be inevitable at this point. It's better to be safe than sorry.
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