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1141  Bitcoin / Bitcoin Discussion / Re: Algorithm for selecting a low-fee transaction from the mempool on: May 21, 2023, 11:48:45 AM
I broadcasted a low fee (11sat/vbyte) transaction last week, just at the time when they fees went up.
I knew that the fee was low and that the transaction would take a few days to confirm (according to https://twitter.com/CoreFeeHelper , it would take around 3 days) but it's been a week and my transaction is still in the mempool. Sometimes my wallet (electrum) shows it with a blue "unbroadcasted" icon and I have to rebroadcast it again. I also sometimes use "free" tx accelerator services which basically rebroadcast the transaction everywhere.

My question is what is the algorithm that a miner picks a transaction from the mempool to include it to a block?
Is it a greedy algorithm which just picks the ones with highest fees? Is the "age" of a transaction in the mempool also a factor? Or is it just a combination of fee and a random choice?
First of estimated time to confirmation is just based on the current status of network but its obsolete cause the network status keep changing every minute so even if you paid enough fee for the transaction to get included in the next block and all if a sudden the fee required doubled and it's pretty normal thing.

There were some free bitcoin transaction accelerators in the past but not sure still they are available but its not really a possible solution, if you can't wait just bumping the fee is the only option or the receiver can also pay the required transaction to get confirmation quicker.
1142  Economy / Exchanges / Re: Effects of Binance Changing Wallet Addresses on: May 20, 2023, 06:55:41 PM
If you've been on Binance over the years, you could
Probably discover that in simple terms it is the most secured
Well coordinated and organized centralized exchange globally,

The recent announcement of wallet addresses going to expiration,
Has got me wondering, What effects, positive or negative will this have on Binance platform as well as the crypto investors and traders
On the platform, As for me I found it strange, that an address is expiring. What are your takes on this.
AFAIK, BTC address never expires and in Binance you can only have one deposit address for bitcoin so if they sre changing addresses of everyone for some reasons then its due to development of their platform or something like that so why we should be worried about?

I am sure they have a warning like check the deposit address before depositing funds to the account everytime you copy so suddenly if it changes it doesn't affect me personally or unless I am using the address for receiving payments from someone and I don't have a way to contact the sender to tell the new address.
1143  Bitcoin / Bitcoin Discussion / Re: HyperBitcoinization Coming, Says Adam Back, Do you Agree? on: May 20, 2023, 05:11:22 PM
What do you make of this information?
For me, I think it makes me more bullish on Bitcoin than ever before...

this makes me happy.

this means about 1 million people own their own key. we can track it if their Bitcoin is put in exchange, right?

~ Not your key, not your BTC ~
Not really, because one can hold 1 million bitcoin in 1 million bitcoin addresses so increase in the number of address can't be really considered as a sign of adoption happening from new people and I doubt that 1 million people have more than 1 BTC in their wallet, its still under control of few individuals and remaining is just as portions among all the small investors. But that is the real adoption cause we know its only 21 million bitcoin and there are 7 billion people all around the world so lesser the amount of bitcoin and more number of bitcoin address denotes the direct relativity towards actual adoption.
1144  Bitcoin / Bitcoin Discussion / Re: obsolete bitcoin investment advices [change needed] on: May 20, 2023, 04:32:42 AM


1. Invest in Bitcoin with your spare money:

2. Invest what you are able to lose;

3. DYOR (Do your own research):


IMO, these 3 advices still make sense to me

1. Investing spare money doesn't necessarily mean the money you got after you meet all your monthly needs for survival, it is supposed to be the savings part from your total income which means you should save 20 to 30% of your salary and invest on to different assets to get returns in future.

2. I can point hundreds of them who lost their money due to investing on Bitcoin because they invested in a wrong way. Someone saw the growth if bitcoin at the time if bull market so they took loan at high interest rate and bought bitcoin but after few months the price dropped more than half price than their purchase price now how will repay their debt?

3. It's not only about potential growth, what if someone bought Bitcoin but deposited in a fake wallet so they lose all their assets in no time so its important to gain knowledge about bitcoin, how to store them secured for long term, where to buy it, how to avoid scammers while buying.
1145  Economy / Scam Accusations / Re: scam warning rollbit.com banned my account on: May 19, 2023, 08:00:46 PM
@OP I would say it's better if you're creating a report to Ask Gamblers or Casino Guru? there's no solution in this case as you keep saying you're not an abuser and Rollbit's representative was saying you're abuse their crypto trading.

Although this accusation was on a different casino my expirience on site Trustdice.com SCAM, but he was able to get his winnings. Now it's your turn to prove if you're completely an innocent and not an abuser.
I am not taking any sides here because it's not clear yet what kind of trick OP used to make such amount of money but since OP can't login to his account anymore since the site banned the account permanently then how do you expect him to prove he is innocent.

And I beleive it's the job of casino representative to prove he cheated to exploited any bug in their system to make financial gains not the victim.
1146  Economy / Trading Discussion / Re: How do I trade bitcoin? on: May 19, 2023, 06:55:45 PM
Friends, I have download different apps from forex trading and I use most of them trying to trades bitcoin but it seem too difficult and failing, forex indications and signals are not a match when compare to bitcoin so every buys or sells I end up close the market with red lines of loss. I want to know if there is a bitcoin trading apps, that's mainly for trading bitcoin? Like the blockchain but I need local apps or website links. Please assist with good response.
Let me make you to understand that you didn't try trading you tried the futures and options based on the statement you provided. Because there are lot of pseudo trading apps available on Play Store and app market which claims that you can make money and all you need to do is to predict the future movement.

I consider spot trading is the real trading where you buy a crypto on an exchange let's say Binance and wait until it rise then you sell it so at the end you made profits and this is how the trading works and just learn basics about trading before jumping into it.
1147  Economy / Scam Accusations / Re: Wearing Double signature (Shan85) on: May 19, 2023, 05:07:53 PM


 Is there a way that a Manager will be notified as soon as a Participant of the campaign removes the signature even just for a second?


Forum doesn't have such feature so its the sole responsibility of the campaign participants and managers to keep their words. Lot of members are running for a spot in a signature campaign but someone like mentioned in OP abused the given opportunity now everything gone and gone forever.

What happened:: The user (Shan85) wearing both signatures of Duelbits signature as well as signature of BetterCallRaul (each before receiving the payment.

I did not know this happened mistakenly Sorry. I accept my mistake and I’m ready to refund last week payment to both of you Roysee and Hhampuz. SORRY

If it happened mistakenly for a week then you can logically explain and refund one bounty reward from former campaign but it looks like you intentionally did since it was happening for 3 weeks as far as I read the replies of others here so you were changing the signature back and forth at the payment date to ensure you get paid from both campaigns so its unacceptable and you will be not trusted anymore in this forum.
1148  Economy / Gambling discussion / Re: Things that still make feel awkward with some online casinos on: May 19, 2023, 03:40:19 PM
Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.
From user POV its a robbery but from the business POV its their source of revenue generation, its same on the cryptocurrency exchanges too normally they seek about $25 dollar worth of Bitcoin as withdrawal fee not as transaction fee so they can make money in this way too and it's justifiable too because of the service they are providing and nature of cryptocurrency value.
It's actually more than earning revenue if they are charging insanely high fees even when the actual transaction fees have become normal and transaction fees were high only for the Bitcoin network and not for every other blockchain and if they are charging high fees for tokens that have very low transaction fees then they are obviously robbing their gamblers.

There are many more platforms as well that are providing the same services and they are charging relatively low transaction fees so we can't really say that it is justifiable if they are charging this much. We should either abandon such platforms or they should reduce the fees.
AFAIK, more or less the withdrawal fees are similar on the reputed casinos and if someone is using a casino is charging high withdrawal fee and found an alternative which offers the same service with low fee then just move to it. I know some reputed exchange 5x times of actual transaction fee for the transaction to proceed but still they are considered as the reputed trading platform so we can call them as robbers and abandon their services?
1149  Economy / Trading Discussion / Re: Earning online more preferable than offline? on: May 18, 2023, 06:38:16 PM
Earning money online is far superior to working at a physical establishment during the day. Although offline is highly appreciated and difficult. Trading is a great approach to find your true self. It will put everything to the test, including your greed, emotions, patience, discipline, how you handle failure, control, common sense, and resolve. I strongly advise anyone who is going through a terrible time in their life to learn to trade since it provides them a clear sense of purpose other than waiting for jobs. So, which is better, online or offline?
Trading in online isn't new, it exists since we can trade stocks, forex, goods and anything that has value.

Unfortunately I don't think everyone in this can become a trader of cryptocurrencies I mean they can make a life out of money coming from trading alone so its limited too but anyone who has the skills can make money easily.

But comparing online trading and doing physical work isn't same and you can say trading online is easy because there is not much of physical effort is needed however an individual has to work their brain too hard to make money so the point is making money isn't that easy as you say.
1150  Economy / Economics / Re: What is the difference between banks and big whales in crypto? on: May 18, 2023, 04:51:17 PM
Banks are earning big profit from our deposits, they earn bigger than the interest that we get from our deposit because they put a bigger interest rate through thier borrower's or lenders, i think bank is not too far from big whales in crypto they buy or collect coins in dip and they sell in bull and they earn bigger from the holders that sell at loss  they are almost the same or what? What dou you think?
Banks create money and inject it to the economy via customers in the name of loan and the money is nothing but some ink and paper combined whereas a whale is an individual who bought huge amount of crypto assets with their real money and now has the enough asset value which can manipulate the price of crypto assets but it will work only in short term and whale risking the crypto assets too just like everyone else.

They aren't doing anything bad, they just use the situation to make more money with the money they have and if you see this as crime then every business in this world is following that strategy.
1151  Economy / Reputation / Re: 1xbit the incurable virus on: May 18, 2023, 03:33:27 PM
Scams are not moderated here so that is why they are still operating in the forum and promoting their site via people called signature campaign.

They have already negative tag under their name and known for their scamming behaviour so even if the campaign participants comes out and buzz they didn't get paid for their participation of promotional campaign there is no change for them because their reputation is already ruined so anyone who is promoting is doing at their own risk and am sure they are well aware of it as well.
1152  Other / Beginners & Help / Re: What was your biggest fear with starting in crypto? on: May 18, 2023, 01:38:19 PM
Genuinely, I hesitated to invest in bitcoin when I know about it first and it took years almost 2 to 3 years precisely to understand I missed the early train now let's get into the investment and make some money then only I introduced into bitcointalk and understand the concept of decentralisation and why it is important in this world especially the depreciating fiat money keep all the people in the trap.

And the biggest fear is what if the value of the bitcoin goes to zero after I invested, obviously I don't have any doubt now but at first I thought in the way and realised reward is great compared to risk.
1153  Economy / Speculation / Re: It was easy to know the SELL of this week with a simple chart analysis on: May 17, 2023, 08:42:40 PM


upload img


When will the bearish bias last?

That I can't say for sure, but as a trend trader, I see further selling of Bitcoin in the near term and the $19,501 (low of March) is the only immediate noticeable target on the weekly chart.

Tell me your opinion about this and the current situation of Bitcoin from your angle.


This is where it will lead to if we asses the price of BTC with the help of technical analysis and it doesn't necessarily has to follow the way we draw because there are also other factors is affecting the price now especially the ordinals which clogged the mempool and price went to crazy high for weeks and lasting till now which is the main reason why we can see the price of BTC is declining.

Technical analysis is good way to analyse the price track for short term especially for day traders but for long term its just obsolete and I can't conclude anything with the candles from past.
1154  Economy / Gambling discussion / Re: Things that still make feel awkward with some online casinos on: May 17, 2023, 06:30:43 PM
Why are some online gambling platforms having high withdrawal fee? I know Bitcoin recently has a high transaction fee but that's no more right now, some online casinos are still asking for 5$ per transaction when it should be 1$ or less.

Not just only Bitcoin withdrawal, even coins with very low transaction fee, isn't this robbery? If you just signed up on a centralized exchange, you can pretend as if you want to withdraw, to know how much the gas fee costs, but on online casino, you will see this only after you have enough wins or funds for withdrawal.
From user POV its a robbery but from the business POV its their source of revenue generation, its same on the cryptocurrency exchanges too normally they seek about $25 dollar worth of Bitcoin as withdrawal fee not as transaction fee so they can make money in this way too and it's justifiable too because of the service they are providing and nature of cryptocurrency value.
1155  Other / Beginners & Help / Re: Which is more lucrative between mining and trading bitcoins? on: May 17, 2023, 04:43:32 PM
I am looking to start my Bitcoin journey from somewhere that would be of advantage to me as the economic situation in my country bears down hard and with having family to Carter for, it is rather exhausting.
Without much physical mentors with real life experiences except for YouTube and this forum where I feel I can ask good questions and be answered well, am asking, which is the more lucrative endeavour for a newbie hoping to benefit from cryptocurrency at first between Bitcoin mining and Bitcoin trading?  

Are there other Bitcoin endeavours one could be interested and invested in, other than trading and mining?
I advice you to choose the trading and learn more about trading, strategies, analysis types,etc

Trading can be started by anyone who has smartphone, internet and small amount as trading capital whereas mining is no more profitable for individuals unless they have enough hash power to beat the existing miners all around the world so I don't even know how much capital needed for someone to build that big mining farm in this 2023.
1156  Economy / Scam Accusations / Re: 1xbit exit from the forum, leason for newbies on: May 17, 2023, 03:38:39 PM
They locked their signature thread but the official ANN thread is still open so I can't conclude they ran away and about their exit I don't think they will because they are known to be scams still invest money to buzz their name around the forum and all the participants knew the consequences too but as far as I know most members already got negative tag so they were just happy to see a campaign that pays for their account.

So the actual lesson should be do enough research on ourselves before trusting the words of others lets take 1xbit as an example here so newbies learn to make your own analysis about anything you want to risk your money with.
1157  Bitcoin / Bitcoin Discussion / Re: There is something wrong with understanding Bitcoin on: May 16, 2023, 08:30:02 PM
First of all, Bitcoin isn't created with the intention of being used as an investment just we are using it in that way because we realised the Fiat is losing its value whereas the crypto is growing and keep growing so it lead to the big players to enter into the market and now its stand as a good asset for long term investments.

Not everyone aware of Fiat is losing its value even now then why they would be saving money in their bank accounts so only few managed to get and made lots of money and let the others to sit in the middle class people to keep chasing the money forever.
1158  Bitcoin / Bitcoin Technical Support / Re: How to Extract a Private key from Seed words ? on: May 16, 2023, 06:35:34 PM


This app is very different , I still have a screen shot of the Old app , which I believe was either migrated or purchased by another App ,
I tried importing the seed words into electrum , but it fails to show the active addresses from 2013 , the App shows the correct addresses with transaction history , however I can't get any private keys .
and yes this was from 2013 , and I used it until 2016 or 17 I believe .



Based on the screenshot provided I think this is the wallet you are using : https://cryptoslate.com/products/greenaddress/

And they do have 24 words seedphrase which will be supported on Electrum if I am not wrong.

Anyway if you want to extract private keys for a particular address which is also possible though just select the address you want to extract the private keys and check out the keys and use it to import on Electrum or others.
1159  Bitcoin / Bitcoin Technical Support / Re: Minimize your transaction fee with Electrum wallet on: May 16, 2023, 04:43:17 PM

Compare three options and see difference, ETA and Static options provide overpaid fee than Mempool option. All of them are estimations because we don't know how mempools will become in next 100 minutes.

Within 10 blocks
  • ETA: 106.3 sat/vbyte
  • Static: 100 sat/vbyte
  • Mempool: 14.5 sat/vbyte

I can confirm this because I figured it out a long way back and since that I only used the mempool feature to pick the transaction fee for all of my transaction via Electrum wallet but they do give inaccurate fee too because of sudden change in the network but the wallet isn't picked it up so we have to go back and set the amount we want to send to find the required fee at the moment.

But here I want to clarify something even if we use mempool estimation it doesn't guarantee that the transaction will be confirmed in the next block because I personally broadcasted many transaction with fee of 0.6MB from mempool and after I broadcasted the fee keep raising so I have to wait few hours for the transaction to get into the blocks.

Well all the transactions from Electrum are Rbf by default so if we don't like to wait we can bump the fee at anytime if we want.
1160  Economy / Economics / Re: The Role of Education in Financial Literacy on: May 16, 2023, 03:25:19 PM
Snip~
.
.
 but yes, people in the 20th century trusted more in people with educational degrees. who are oriented where they can work in large companies with large salaries, and most companies have standard graduates or degrees to get a decent position in the company. Just to correlate what you said, people without degrees can hire those with degrees.
Well, since 2020 many big companies including Google, Facebook, Tesla and lot others started to hire employees based on their skills not with their degree and I am not sure how many people with no graduate entered into companies but I remember few of the individuals who entered into Google by learning everything online and never went to college to get that knowledge which proves that the certificates become obsolete and companies looking for skills.

If you have the experience and skills of course, but if you are just a fresh graduate and a kid who doesn't have much experience in the work field for sure the your education background would help you to get hired from companies. And that's true if you don't want degree you could still earn certificates online where they teach people for free, you could even learn from youtube but still it would be better to attend seminars so you could add it in on your resume.
Let's talk about the future, do you really think a company will hire someone because they might studied about the technology or who can actually do some contribution with the technology with no certificate behind the names. I know NASA hired a failed school kid or build a palm sized satellite and that is what I am talking about but still we are in the transition period of skill over degree but I don't think those days are not too long from 2023.
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