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As others has pointed out, there are insanely huge difference between the first version of Bitcoin Core and the recently available version and I don't think it's possible for a single person to code something such complex from scratch. Even satoshi referenced various articles and mechanisms while building Bitcoin and they merged altogether the failed components and created a successful network i.e Adam Back's mining mechanism was used in PoW, P2P mechanism was used for communication between the nodes and a few more. On top of all these things, satoshi even had a goal to achieve - the decentralized P2P e-cash system. Later on, we all know that hundreds of developers worked together for 10 years to achieve the current codebase.
This is the same workflow which happens in any open source development like Linux Kernel or proprietary development like Windows. MS-DOS 1.0 had 4,000 lines of code whereas Windows 10 which was based on NT kernel has a mammoth 50 million lines of code. Do we think a former CEO like Ballmer or current CEO like Satya know where a particular feature of Windows is hidden in 50 million lines? The same stuff happens in Bitcoin as well, it's impossible for one single person to re-create Bitcoin 2021 from scratch without the help of hundreds of developers.
Even today, when new developers try to onboard onto Core development, the experienced devs request them to work on a single feature alone as we are in need of devs specializing in a particular feature of Bitcoin and not to work on multiple features.
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BTCump, relaunching my service after a minor hiatus. My new 5 month old HDD met a sudden end of life and unfortunately I lost some of the very important docs related to signatures and other projects. This was one among the reasons for a break, and I am getting back with new low tier prices (probably the lowest ever in the whole forum)
Static Banner Ads are priced at an incredibly low $1!
This is for a limited period of time and meanwhile for these $1 payments, I will only accept Bitcoin (LN) to prevent high fees along with Litecoin and XMR as well.
I'm also providing Avatar Design Service at an incredibly low payrate of $0.3 (payable through XMR or LTC). I will update these prices in the OP as soon as I've recovered my project files from the dead HDD!
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BTCump, relaunching my service after a minor hiatus. My new 5 month old HDD met a sudden end of life and unfortunately I lost some of the very important docs related to signatures and other projects. This was one among the reasons for a break, and I am getting back with new low tier prices (probably the lowest ever in the whole forum)
Static Banner Ads are priced at an incredibly low $1!
This is for a limited period of time and meanwhile for these $1 payments, I will only accept Bitcoin (LN) to prevent high fees along with Litecoin and XMR as well.
I'm also providing Avatar Design Service at an incredibly low payrate of $0.3 (payable through XMR or LTC). I will update these prices in the OP as soon as I've recovered my project files from the dead HDD!
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I think there was an initiative similar to this by @TheBeardedBaby a few years back where they tracked the users similar to this who were in the pipeline of ranking up and I was one among them to be ranked up to Full Member back in 2018. I don't think it's being maintained anymore and a topic like this (provided they are being constantly updated) deserves a mention.
AFAIK users who are ranking up to Hero/Legendary will never request/ask for their last ranking up merits in redundant merit distribution threads and I think this along with Coin-1's topic is the only way to track them and rank them up in the process. Though DdmrDdmr's Merit Dashboard is quite helpful and does the same work, a thread like this could be helpful at times.
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I agree with most of you post despite this point. i'm not sure if you know but tron, thanks to its speed, adoption and low costs is the biggest platform for tether
TRX has been heavily marketed and manipulated by Justin and he (the founder) himself has agreed that's indeed a shitcoin  I'm not completely against TRX but the way they are paying celebrities and trying to pump their coin is unacceptable on any grounds. Moreover with the shady practices which Tether is following since the beginning be it the way they hide the pegged USDs or the way they are moving their company, many of the traders are moving over to trusted stable coins like USDC and BUSD which are properly being audited and they indeed show the proof of funds as well. I'm not saying that TRX is a good investment product, but for sure it deserve top 25CMC especially that we have
I agree with this point particularly. The top 25 is being occupied by tons of fake promise coins and useless forks particularly the BCH and ETC. ETC is suffering 51% attack now and then but newbies has pumped it to new highs in 2021. This is more than enough to prove how immature the current market is and why supports are lacking strongly for bitcoin. DOT had a powerful marketing strategy backed by ETH cofounder and the same was ADA. DOGE on the other hand, the mother of all shitcoins is enjoying a strong support from newbie community altogether. We need a huge clearance in the market which can dump the shitcoins like doge going back to $0.002-$0.005 range. ICP launched at $700 per coin (if I am not wrong) and tanked to an all time low of $35 yesterday. Same goes with Filecoin which was once considered to be worse reached new highs this year. XMR with a strong developer base deserves to be in Top 10 but the shitcoin mania is taking crypto market by storm where fake promises are enough for 500X returns. |
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So I went ahead and removed most of those nonprofits anyway, I kept the ones for which I found Facebook pages to instead (although they look like they haven't been updated in a while either).
Thanks for editing the page and removing the inactive organizations too. Had so much of personal work to take care IRL and I didn't have much time in moderating the local reddit community or joining the wiki discussions happening over here. I think you can probably remove the 'Bitcoin Alliance of India' organization from the non-profits as they were dead quite a few years back. These removals decimates the page in a way so I want to expand it by including bitcoin groups formed at Meetup.com ( like these, but only the big ones). Thoughts? I think this does sound like a good idea, but we need bitcoiners from the respective countries to confirm for the same on how trustworthy the meetup is actually. Truly speaking, there are far less hard-core bitcoiners in India and majority of them are just random toxic crypto traders looking out for profits and scams and hence the Indian meetup spaces might be dominated by them. There is a crypto group called "IndiaBits" in telegram which is run by trustworthy old-timers from 2012, but let me confirm with Gabru (the admin/lead of IndiaBits) before adding the edit so that we will be able to know if they are running the group as an NGO or just as a discussion place after all.
I/We (2-3 more bitcointalk members) are working on an open source website which will serve as an Indian alternative of bitcoin.org so that we will be able to include the site over here The idea will take some time to realize as I don't have time to work on it like how I did during 2019-20. |
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I will pick 28 - HeisenbergCongrats on hitting 10 years on the forum cygan and glad you found the collectibles section. I am currently at 3.5 years with 10 years is still a long way to go and hopefully I guess, we will be able to migrate to newer forum software atleast before your 20th anniversary  Your collection thread is always an inspiration, hope I can design you and Mopar a custom signature set when time permits. BTW looking forward for the 20 year anniversary and trading with you..  |
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This is indeed a good topic to discuss during this bull market. The majority of the crypto market in general is driven by fake hypes and promises and this was accelerated to further extent in the bull market of 2017 and 2021. ICO and Defi were the two major differences between these two period where ICO projects received the funding from the investors and ran away with the money while Defi projects received the funding, provided the yield and then failed all of a sudden. But in the case of ICO, few projects never materialized and ran away as soon as the scammers received the money from investors but in the case of Defi they slowly gained the investors confidence by providing the yield and later when the investors deposited higher into the platform, they scammed all of a sudden and ran away. 2021 is even worse where many scammers openly admitted that they will fail and steal the money and instructed the investors to invest in the platform at their own risk, one such example was YAM coin. From a personal experience, I invested a few $$ (cumulatively accounted to ~$1k) back in 2018 and almost every coin I have invested was a scam and I stood with a meagre $250 after the losses. Many had the potential and almost every coin I invested were audited properly and had the required licenses but failed miserably during the prolonged bear market. While on the other hand, coins which didn't have the potential nor had the licenses and which were a smaller competitor to the invested coins pumped in 2021 bull run. Should I call this my bad luck or was a bad investment? IMO TRX is a shitcoin marketed by the clown Justin 'Baby' and I have firm thoughts it might go back to zero anytime in the near future. BTT, the coin which was marketed really good by Justin is a shitcoin and you can find the reason for the same in my topic which I created a few months back. There is zero use case and is a scam, but it is among the Top 50 coins in terms of market cap whereas Monero which is indeed an actively developed coin stands at #26. Should we call this as a fake hype or should we call this a bad luck to XMR investors? Why people rush to buy such assets. Promises of product evaluated higher than products that already are here and works. From my experience such products pumps to the moon and crash weeks before releasing product. Leaving investors with crashing price and product that no one is using.
The market is dominated by newbie and greedy investors who are actively looking out for opportunities to make quick bucks rather than supporting real projects which can scale up and bring more good to the community. We can quote various examples similar to these and the famous one being DOGE (the under-developed and abandoned fun project) has higher market cap than Monero! I was a newbie in 2017 bull run and so was everyone else during their respective times when they entered the market. I invested in potential projects which could have earned me some cool fiat but almost every coin failed and I was left with losses alone. High potential projects are always risky and we tend to lose more but nowadays the whole crypto market is filled with highly potential projects which delivers fake promises and nothing more than a failed product. |
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Same we see now during crypto bubble. Hope we will not see -99.9% on btc too
Dang, forgot to add another '3' to the price Bitcoin moving -99.9% is highly unlikely but I'm afraid majority of the alts will dump so worse that most of the cryptocurrency investors will get rekt and some of the few will probably apply for bankruptcy as well. Bitcoin has attained the status of "Internet of Money" and I think it will continue to function just like the Internet of 1990s i.e it will function as a middle layer where others can build their companies on top of it. In the 1990s, we had the decentralized internet and tech entrepreneurs started building their company on top of the decentralized arena similarly in this decade, we are experiencing similar situation where the entrepreneurs are using the technology of bitcoin and modifying it to create their own cryptocurrencies. Similarly exchanges are also building and earning on top of bitcoin by having an exchange mechanism. i'm not worried about Elon.
...snip...
Elon triggered the event and the dump was further fueled by the China ban. But even after playing so much of manipulative games, his tweet tends to pump any crypto by 10-50%. I hope you do remember about the CumRocket tweet which pumped the shitcoin by 10-20% (hope my memory is serving me right). Meanwhile as usual, the current market is dominated by noob investors and hence we need a few more months to attain the maturation stage where the noobs would obviously get rekt thereby calling bticoin and crypto a scam and move away from the trading practices until the next halving bull run. In 2023 we may find out that 60%-70% of supply is in hands of institution that bought btc for debt. Is it good?
Taking a loan to buy an appreciating asset like Bitcoin is always considered good but we need lot more tighter regulations when institutions starts adopting bitcoin in larger numbers otherwise panic buys and panic sells would worsen the cryptocurrency industry altogether. The open market standard is allowing bad actors and manipulators to ruin the lives of many who depend on crypto trading. For instance, the pumping of dogecoin by Elon was a highly frowned upon practice as anyone who is here from 2017 indeed know that it's a shitcoin and there are zero use cases for the same. What consequences of this we may face in near future?
Let us consider an example over here. Countries like China and India are completely against cryptocurrencies and we are very well aware of the same. Hence if any Chinese/Indian company buys bitcoin and all of a sudden if the country bans them, the company doesn't have any other way rather than moving outside of the country. This happened during the 2018 Indian ban of cryptocurrencies. This is why we need tighter regulations to prevent such adverse conditions. |
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one way to get out of that is to either wrapped the tokens or bridge it on another chain
Could you elaborate what does this mean practically? Based on my understanding, it seems like the auto deduction system works as long as we have funds in the wallet and even if we are in profit, we will be forced to participate in the dice game and lose all the profits? If so, I feel like this does seem to be a bad feature to be implemented in any gambling site. The gamblers should be provided with the freedom to stop the loss or to secure the profits they have gained from dice gambling for sure. As post #16 explained, this kind of feature doesn't offer any additional opportunity than losing all our deposited coins. Practically speaking, I still remember the 2017 Ethereum flash crash when the price of 1 coin plunged from $300 to 10 cents. Later on, exchanges implemented quite a few rules and such a flash crash of Ethereum/Bitcoin dumping to 99% isn't possible. Similarly users should be provided with the freedom to secure their profits by offering a stop button IMO. |
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Most of them who are interested in cryptocurrencies in general are a fan of Microstrategy just because they are buying bitcoin by taking a loan again and again. While I wouldn't consider that as a huge risk, but extreme volatilities during the start of bear market can probably test the patience of Microstrategy in general. Bitcoin is protected by the users and impressive open source developers globally, but the lack of regulation and frequent manipulated pumps and dumps can influence the stock price of MSTR for sure. In the recent times, MSTR price has been solely riding based on the price of bitcoin and was unrelated to the company development. If bitcoin pumps, MSTR is looking for a recovery at a slower rate and when Saylor announces that he is buying additional bitcoin by taking a loan it dumps. Who is investing in microstrategy debt?
Saylor will always be remembered for his fake promises during the dot-com bubble period. He marketed MSTR as equivalent to Oracle and Microsoft and the fake promises came to light when the stock dumped from $330 ATH to $4 Saylor could probably be using the same practice to gain the investors attention this time and now the company has shifted to a bitcoin holding company rather than a software company. 1- Person who don't believe in future of BTC, in BTC price growth will not do that because of risk of miscrostrategy bankruptcy if BTC will dump significantly - as I said. microstrategy is not even able to roll the debt from its profit.
While I wholeheartedly trust bitcoin, I wouldn't trust someone like Michael Saylor who is slowly trying to gain so much of power in a decentralized community. Well, for the newer generations or people who aren't aware of his past might support him but the introduction of something so much centralized like Mining Council is a dick move IMO. I'm not sure, how will he be handling his investors during the bear market but he is trying to exert some sort of control in the community by gaining the trust. He does sound like modern revamped version of Gavin (trying to centralize bitcoin) and many of the newbies are blindly following him and some strange newbs have gone to the extent of worshipping him  Whats your thoughs on that? Is it good in long term that BTC will, in near future, grow thanks to corporate debt?
Well obviously the answer would be Yes. But the point here to note is that, MSTR is moving from a software company model to an investment company with the insane investments in Bitcoin. While the failure of Bitcoin based on technical aspects is 100% unlikely there are still bad actors like Elon Musk and the people who support him can bring the price back to it's previous $10k range. The debt which were acquired by Saylor could have been used to develop the company, but he didn't do that and rather invested it into Bitcoin for much easier returns without working on anything. |
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Different technologies arise at different point of time in the history as like the Computers, dotcom boom, Cloud computing and AI improvements (after the internet became mainstream) etc etc. All had their run over the course of the time and when they reached the area where further major improvements is not possible, new entrepreneurs moved to the next major technology. Consider an example over here in this instance : In the mid 1950s to 1990s almost everyone were working on making the Operating Systems as user-friendly as possible. Once these were achieved by Apple and Microsoft, we moved on-to building our businesses on the Internet (or so called Interconnected networks) and hence emerged the dotcom bubbles where larger companies like Google were in the midst of survival.
Once the consumer base attained the enlightenment or what I would call as the phase where consumer understood what was happening under the hood, the companies started building cloud servers and migrated slowly to AI. This is where cloud computing and artificial intelligence came into existence. Along with this, blockchain came into existence with the introduction of Bitcoin by Satoshi in 2009.
Since the blockchain environment is driven by open-source movement, almost 80% of the so called blockchain technology companies copied the source code of Bitcoin and started building their own shitcoin and this indeed fueled the start of bubble mania. Eventually when the consumer base attain the enlightenment as like in the case of dotcoms and aren't driven by greed, we will view the collapse of 75% of the blockchain companies and only the strongest with the better technology survive. This will most likely happen in 10 years at the maximum and we would be experiencing newbie investors losing all their hard earned money through the collapse (this has already happened in 2018 crash) but the upcoming bear market will be more worse since Defi and unnecessary staking activities has paved way to enormous amount of scams.
Coming up to the point, I believe we are in the middle of bubble and the 75% of the companies which didn't build the company on their own but rather copied the source code of Bitcoin and did minor improvements would fail miserably.
Bitcoin is like the Internet but Blockchain Companies dependent on Bitcoin are like the Dotcom Companies.
Will Internet fail? No, not at all. Will the company build on top of Internet fail? Most likely and that is dependent on how bad the company is. I would never say Apple or Google or Microsoft will fail but many companies who weren't as superior as these Top 5 might fail.
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I will be active in this forum and would be posting here as long as my soul doesn't depart from my body,  well that's really a long way to go but I am very much interested to see how this forum will evolve over the years/decades. I might be inactive at times (may be a day or two without logging in or a month or half without posting) and that will continue to happen as long as my account is active because taking care of personal stuff is far more important than being active over here. I have been part of famous torrenting forums since 2010 and some of them were closed recently for various reasons (may be because of sharing pirated content for over a decade) and I firmly believe a discussion forum like bitcointalk would never become unreachable at any point of time unless and until theymos or any future admins decide to sell the forum for a hefty btc value! Another discussion forum which I was part of since 2014, became a paid membership just like what Jet Cash said in his post but that being said, even if bitcointalk is converted into a paid forum sometime in future I will pay the btc fees (provided they aren't high) and join again Bitcoin is young so does this forum too and on top of everything I personally would like to see this forum grow with various advancements in the aesthetic look. Just like how Voyager 1 and 2 is travelling in the deep space looking forward towards reaching Alpha Centauri in a few millennium, I will be travelling here looking forward towards the changes happening in the future decades. |
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I also believe he's been talking a lot about Dogecoin...so there's that too.
It's quite certain to believe that after reading through his series of tweets about the currency, Elon doesn't really know much about how bitcoin works on a highly technical scale . Well, he should be knowing the basics of the workings but wouldn't have had a hand on the decentralization subject which is governed by PoW mining. Either this tweet could have been a way to improve the overall sarcasm but if he had posted this seriously, he is pretty much of an idiot trying to play with the emotions of noob investors.
In today's bitcoin world, we are dominated by more noob votes than veteran votes and hence the Mining Council will be well received as the general public (new to bitcoin) always tend to believe bitcoin is being governed by a central entity as how these so called altcoin foundations do! But to the contrary, such a foundation kind of set-up was always received negatively by bitcoiners right since the early days and I hope this should continue being so. I believe bitcoin is the only cryptocurrency which is still highly decentralized and not being governed by any non-profit organizations. Well, we need to always remember what a powerful bitcoiner like Gavin did in the past. He started the Bitcoin Foundation and tried to control each and every aspect of the network which was highly frowned upon later : - Interact with the legal system, where a centralized entity is needed: for example, to hold the Bitcoin trademark, own/control the bitcoin.org domain name, etc.
- Act as a central library for accurate information about Bitcoin, so journalists and policymakers have an 'official' place to learn about Bitcoin.
- Collect donations to fund infrastructure necessary for Bitcoin's growth (organize regular developers' conferences or get-togethers maybe? pay for development of cross-implementation testing tools? pay core developers' salaries? create a certification/testing program for Bitcoin implementations? create a central clearinghouse for information about legal issues surrounding Bitcoin across the world?)
The whole idea of Mining Council (the new reformed Bitcoin Foundation) from a true bitcoiner's point of view is bullshit and should end miserably. People like Saylor/Elon is trying to control the "Internet of Money" and act like Gavin but we believe this will end as long as the power of the suites(corporates) doesn't outweigh the bitcoiners! |
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My prediction of the price be 1BTC will be equivalent to $25671 on 21st of June.
We have been on the bearish mode since the beginning of May and we have further deteriorated to good accumulation period currently. China's take on the legality has dumped the overall market and further a ban from a country like India can possibly decrease the prices even lower. India can and probably will impose a ban again as they were always against free speech right since the beginning of early internet days.
Thanks for conducting the game again El, glad to be a participant.
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