Bitcoin Forum
September 27, 2022, 06:45:43 PM *
News: Latest Bitcoin Core release: 23.0 [Torrent]
  Home Help Search Login Register More  
  Show Posts
Pages: [1] 2 3 4 5 6 7 »
1  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 31, 2022, 11:13:13 AM
Last chance to buy at the dip before we go north Smiley Got my extra 0.1btc
2  Bitcoin / Bitcoin Discussion / Re: Could Bitcoin's transparency be its downfall? on: May 31, 2022, 10:59:58 AM
Excuse me, what happened to "Verify, don't trust"?
My point is that the government do not care if their claims are legit they care about convincing the others which are not yet using btc that is is bad. This is something I think will be a problem even if a lot of people do not share the same opinion here.

Forced? No, I don't think we are there. Not yet. At least not in my country..
They do track spending of notes I think that is what the other member was saying but I know that bills that have been taken by a heist have been tracked in the past. I do not think they can send you to jail for spending on of them they are just tracked to give them a lead other evidence would be needed.
3  Bitcoin / Bitcoin Discussion / Could Bitcoin's transparency be its downfall? on: May 29, 2022, 07:18:01 PM
Serious question I am not anti Bitcoin do not get the wrong impression and I have grown a deep hatred for our fiat system that is exploitative and ill natured.

When we compare Bitcoin to fiat there are a couple of differences which I think could impact us in the future:

1. Bitcoin's will become more tainted over time

2. This pushes governments to become concerned and impose more KYC requirements

3. Eventually most Bitcoin will be tainted to a degree. If we look at this research concluded by economist Rogoff[1]:

Quote from: Independent
Rogoff’s estimate of the share of currency held by consumers for legitimate purposes is even more suspect. He relies on surveys of consumers, who report holding 5 to 10 percent of all outstanding currency. Then, by assuming that any cash that the surveyed consumers do not fess up to holding must be held for nefarious purposes, he concludes that 34 to 39 percent of all currency in circulation is used by criminals.
34-39% in fiat currency is a huge of money. Bitcoin is further limited by its cap of 21 million which means that if Bitcoin becomes the mainstream currency used by everyone the share of tainted money would be higher because of the cap with fiat more money is printed in the fiat currency which reduces this amount.

We already know that governments require anti-money laundering evidence for many transactions outside of cryptocurrencies such as buying a house requires proof that the money was earned legally and not through illegal activities. Exchanging money on exchanges requires identity which they probably look at your salary reported by the government.

We have seen that in the last couple of years governments have started to require KYC more, and I believe that as the share of tainted money increases, government regulation and intervention will also increase.

I am not saying it is a problem of Bitcoin because I think it is unfair and most of us have probably touched money that has been used in criminal activities without knowing it. That is the nature of cash but cash cannot be tracked as easily. Blockchain works against us in this way, providing an easy way to discover tainted coins. The government could use this as propaganda if it wanted to and convince people that cryptocurrencies are bad because a good portion of them are used in criminal activities but not just this because they can prove it and further convince others that btc is "bad".

How do we prevent this type of propaganda attack or invasion of privacy?

[1] source:

4  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 29, 2022, 03:10:05 PM

75 years and counting:

You can’t beat Japanese to this.

wtf is that monstrosity. This is what makes me lose faith in humanity

this is why btc still is seen by many people as fake money because this is the sort of brain power they have....buying that shit
5  Economy / Gambling discussion / Re: ⚽UEFA Champions League Discussion Thread -- 2021/22 Final! on: May 29, 2022, 01:00:41 PM
Great final I thought Real Madrid tactically out thought Liverpool and that is why they came away with the trophy Liverpool had the chances on the night to win but they did not take them. Real Madrid had 2 shots on target and scored 1 of them and that disallowed goal which I think was onside. Liverpool are a great team but experience pays off in finals.
6  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 29, 2022, 12:45:42 PM
Do you wake up some days and think 'I am very lucky to existent when Bitcoin does'? I do not care about what the news are saying about this drop.....bubble...bubble.....blah blah blah they always say that then go quiet when proven wrong. 
No I wake up feeling unlucky because of our money system being so broken that the poor get poorer and the rich get richer. Bitcoin would be amazing if it was already our money system but we are too far off for that atm
7  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 22, 2021, 06:02:45 PM
More and more often I find myself nodding when I read your posts.
An ELI5 about setting up a Lightning node could be useful.
Search up "Bitcoin node with lightening" on Youtube and you can follow along the video which is better than any text based post. If you want to read instead then has all the information that you need.

*EDIT* Are zero fees dangerous for spam etc?  Exploitable?

It could be used as a way of attacking Bitcoin by congesting the network but it would only be a temporary attack as no one is going to send that much Bitcoin. How do I know this? You can attack Bitcoin the same way now by sending 0.0000001 transactions on the network with no fees and it would congest the network but no one does it because they cannot keep it up and it would only be a temporary attack. Lightening makes it easier to do with fees but it would not make much of a difference because of the congestion it causes does not achieve any thing.

8  Economy / Gambling discussion / Re: ⚽ English Premier League Season: 2021/2022 on: August 22, 2021, 05:55:47 PM
Lukaku for the golden boot this season? He showed today that he can dominate defenders at top teams. He still has the strength he had when he left the Premier League but now he is more intelligent and leaner. He looks a little faster and I think he will be a nightmare for every defense in the league. This Chelsea team is scary and I think it is only Manchester City that can compete with them.
9  Economy / Gambling discussion / Re: Premier League Prediction Thread 2021/2022 on: August 22, 2021, 05:53:15 PM
And Chelsea vs Liverpool will be more exciting.
I think Chelsea wins because Liverpool have played two bad teams in the Premier League and have won but they have not won in a big way. Chelsea today played the perfect game and really put the sword to Arsenal. Chelsea could have scored more with Lukaku missing a couple of chances and Ziyech. This Chelsea team is one of the best Chelsea teams I have seen in the last 5 years. Liverpool are reliant on VVD if they lose him again then their defense will fall apart. I think Lukaku and Werner against that Liverpool team who does not have Robertson is going to rip them part and score a couple of goals.
10  Economy / Services / Re: [Open] ▄■▀■▄ 🌟🌟 - Plinko Sign Camp (Member-Hero Accepted)(New2) on: August 22, 2021, 05:50:41 PM
User: elliottflz65
Position to Apply: Full Member
Posts Start: 124
Address: bc1qp7a049e2cvq4c2mlq7sad8cyw4jn02qx2wv7m6
11  Other / Beginners & Help / Re: Can lean investor become rich in Bitcoin on: August 19, 2021, 05:21:05 PM
The only option you have if you do not have any starting capital but you want to invest in Bitcoin is offering your services and skills for Bitcoin. Work for Bitcoin instead of investing with money. Any skills that you can offer you can post about them in the services board. Remember to read the stickies and always use a escrow. Bitcoin is not a get rich scheme and there is no easy way to accumulate Bitcoin. Treat it as if it was fiat but remember because of how volatile it is you can maybe earn a lot of money if it goes up but the same thing can happen but down and you lose a lot of money.
12  Other / Beginners & Help / Re: All hail king 👑 BTC on: August 19, 2021, 05:19:04 PM
1. You can buy and decide to never look back, no one is changing BTC chain to other, it's not a smart contract project
Hard forks are possible but they would have to gain the majority vote which has proven difficulty in the past when there has been major changes and there are doubts about the change. You are probably right that it is unlikely that Bitcoin changes drastically but there is a possibly it does change via a hard fork.
13  Economy / Scam Accusations / Re: broker and scam on: August 19, 2021, 05:15:26 PM
If you get scammed due to the nature of Bitcoin you cannot get help or support. No one can retrieve your coins and no one can reverse your transaction unless it gets rejected by miners but that never happens for your situation. I recommend researching the companies that your asking about yourself and if you cannot find any information on them then move on to a more established company. I have not heard of any of those companies. If they are asking you to deposit more money until you can withdraw your money that is 100% a scam and your coins are as good as gone you will never get them back unless the scammer has a change of heart which is unlikely. The best thing you can do is open a topic in scam accusations and provide all the proof (removing personal details) and warn others of these scammers.

14  Economy / Speculation / Re: Are you bullish or bearish this year? on: August 19, 2021, 05:12:35 PM
I am not bullish or bearish this year I think we will hover over the <$60k mark and then we will have a slight correction to the $45-55k zone. I do not think we will set a new ATH this year but next year will be setup nicely and that is when I think we will reach a new ATH and by a big margin. I do not think we will hit $100k next year or if we do there will be a swift correction. I think going up to 100k could do more harm than good right now because a lot of people will sell and that will cause panic among the ranks.
15  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 19, 2021, 05:08:44 PM

  • Halving impact is reducing
  • Magnitude of waves will reduce*
  • Frequency of waves will increase
  • *Possible one more really big UP wave (and possibly the mother of all of them)

This year we will see 90% of the bitcoin supply mined already. Between now and 99%, which is in the year 2035 there will be a few halvings, and I think the mother of all happens somewhere in the middle. Past that, there's not much left to make any significant effect.

By the year 2048, we have 99.9% of supply. The next 100 years to the year 2140 (or as some predict maybe even earlier, but just a few years) is a 0.1% increase to 100% of all bitcoin supply.

But we also know price does not immediately follow these milestones, it may take some time for these numbers to sink in before people, retail, and institutional investors and even countries to buy in.
I think the biggest factor to consider is when we reach that 0.1% of Bitcoin because that is when we should see stability of the price. If you think about it the volatility of Bitcoin is because it has frequent injections of Bitcoin into the circulation of the market this is done by block rewards and then you have low levels of transactions (when you compare to other mainstream currencies) and Bitcoin is still new being just over 10 years old. When we reach 2048 that is when the block rewards do not inject as much Bitcoin into circulation, the currency is now established and is not new yet and the majority of the world will be invested in Bitcoin or using it which will allow us to reduce the amount of volatility we see today. We should then see more people using Bitcoin for its intended purpose as a currency instead of a reserve currency. Most products will hopefully we able to be bought with Bitcoin and Bitcoin would be challenging or already taken over as a mainstream currency. Hopefully by then centralized banks are no longer existing.
16  Other / Meta / Re: What do you think of the Bitcoin Discussion section? Does he need to change? on: August 19, 2021, 04:53:03 PM
I think we are all agree that something needs to change I do not know the best solution to our problems with the spam but we as a community need to pick up the slack if there are not enough moderators until theymos decides to add new moderators. The more reports we make in Bitcoin Discussion the more likely theymos will add a new moderator. I do not report many posts but I will put special effort into reporting spam posts I see on that board from now on and I hope others will to because atm the spam is very bad there.
17  Bitcoin / Bitcoin Discussion / Re: I Don't Want To Hear Anybody Crying When BTC Will Reach 1M Per Coin! on: July 20, 2021, 09:50:17 PM
I'm a long time HODLer and what you're seeing right now means nothing. You have to see the whole picture. The HODLers will be rewarded in the end. Diamond hands!
This is just the prime time to invest into more coins I know I have bought more in this dip and I might have not bought at the very bottom of the dip if it continues to move down but I am 100% confident that I will profit in the future.
18  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 20, 2021, 09:48:13 PM
I am new to the wall observer thread and I thought of something that could be fun as an introduction. You guys can decide when I next sell my Bitcoin. I will be reinvesting do not worry! Give me a number at which I should sell at and I will then reinvest when the next dip comes.
19  Bitcoin / Project Development / Re: Best WordPress plugin to accept BTC payments on Woocommerce? on: July 20, 2021, 09:46:00 PM
Reviews will always have the worst of the worst responses and when a product is mostly rated highly its normally by user error that someone loses money or the product/service does not work the way they expected. I would say make a dummy site and just test the plugins. See if any of the plugins accept using testnet so you do not have to test with real money although its probably best that you use a open source plugin or get a custom coded one so you can be sure that no malicious changes are made.
20  Bitcoin / Development & Technical Discussion / Re: What are the technical obstacles that Bitcoin has to overcome in the next decade on: July 20, 2021, 09:42:47 PM
Normally you'd think about using a general-purpose language such as e.g. Lisp (or even C, but I think that's too big) and then your scripting engine evaluates the commands to do algorithms that you would otherwise be able to do in "grownup" programming languages.
What do you mean by C being too big? Do you want a language which is easy to pick up and is a higher level language? Would Python be an option since its probably one of the easiest languages to learn. I do not know enough about Lisp to comment.
Pages: [1] 2 3 4 5 6 7 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!