No, they won't.
Automated teller machines and banking apps have killed most of what CBDC could have erased, the rest of the jobs in banks can't be replaced by any blockchain. You need support, you need credit approvals, you need a ton of other services, you need managers for private funds and pensions funds, what will be replaced completely will be the cash to digital cash flow, the rest will still be as before.

I can tell you for sure, directly from the source, ING has killed around 30 local branches here,  but despite laying off over one thousand in that department they've hired an extra 200 for their other services.
Banks will keep working with CDBC just as they did with digital $ or euro, nothing will change for them.

Clickbait title? F*** Yeah pretty much!

I've been reading about the new "spam" attack, about how the pool is again growing bigger and bigger how it's best to postpone transactions, how the fad that was supposed to die 3 months ago will die again and I was thinking how the whole narrative changed.
Many here say Bitcoin is the liberator, it will bring the new world order, it will fight against the Cabal, it will dethrone the petrodollar, it will change the economy it will revolutionize everything, the system that is run right now by the evil occultist reptilians will be broken.

But till that final fight, a bunch of jpg monkeys (ordinals) are clogging the mempool, making transactions more expensive, driving some into paranoia mode thinking this is a CIA operation, and all the while forgetting something, if Bitcoin can't deal with this kind of "spam" how could it possible deal with real usage on this level or what is needed for a global currency, 1000 x times more?

So, from jokes to more serious things, there are a few issues here I keep seeing being brought up in denial mode:

1) When the block reward is gone, miners will get paid from fee!
Current fees are 3% in reward, you will need fees to be 30 times more expensive to give the miners the same revenue and offer in return the same level of protection.

Before you even mention the rise in the price of coins, think twice, if the market cap of Bitcoin goes up 100 times but the hashrate stays the same, will the protection be also the same? Guarding a market with 500 billion market cap with 3 million machines worth an average 2000 is one thing, protecting a 10 trillion one with the same hashrate stops being that secure, isn't it?

Bottom line for point 1, if you ever said the network will run from fees, prepare to pay those fees!

2) The immense cost of hosting a node if we double or triple the block size:
In 2009  the cheapest hdd was priced at $0.09 per GB, right now the price is $0.0125. <added $ sign!

Maybe paying $100 dollars extra for a node that would still hold the blockchain for the next 4 years even with blocks 4 times as big won't be that much trouble if you plan on dethroning the banking system, just saying.

3) The lighting network dilemma
While the LN keeps "growing", it's also stalling. If you look from a BTC standpoint yeah, everything is fine, but LN was supposed to be for fast payments, moving instantly value, so the true metric here should be represented in the value locked, and if we look from the $ perspective (orange line) we're well below 2021 levels!!!!



I've always heard, high fees will drive people to LN, not really that true


And guess what, from doing 20-40k tx a day, Doge has again spiked to 100k in the last 24 hours.
Of course, coincidence, right?

So, with these in mind, I do wonder what next and if there is actually a plan or if we go
- 1btc=1btc who cares about moving that BTC at all
- the having will be here, everything will be fine
- Bitcoin was never about being a currency, is about moarr returns

/rant over, beachtime and michelada for me.

Btcointalk when news about usage appears:
- Bitcoin is driving the world economy
- Millions are using Bitcoin to get away from crumbling fiat
- Millions are rising out of poverty by doing business in Bitcoin
- 40 million crypto users in Turkey alone

Bitcoin talk when we talk about mempool
- 600,000 transactions, we need to clean it up, the network wasn't designed for this, it's destroying everything!

Just a trivia thing, there are 1000 cities with a population over 500,000, so if the population in a single on fo them was doing one single tx it would mean the same mess as here.


The current fee in reward is 3.05%!
So if we think fast forward you will need transactions to be 30x times more expensive on average to keep up with losing the block reward. If we think about the current situation only, the drop from 30k in August has damaged miners' revenue by 15%, you will need tx 5 times more expensive just to be on the same level.

Bigger investments? Not on these tiny fees!

Smells like Chatgpt copy-paste this is what I get for the same question


But Chatgpt did mention one thing before listing them:


Right now only two out of all ASICs are not losing money at 12 cents and you're advising him to...? 

Reading back the topic I just realized another "fun" fact about it.

It says that 38% of them have invested more than 100 000 TRY, this means that 19% of the population of Turkey has invested more than the annual median wage in that country, so 19% or around 15 million people have poured around at least $4000 in crypto which would make it to 60 billion. For fun let's assume they all have it in Bitcoin, just those and assuming they have only the minimal bracket purchase and that 38% of the population of Turkey would own 13% of all the Bitcoins! If we count the others at a median we would have another 5-6% percentage!

So, based on this at least 20% of all the coins are owned by Turkish people!
Can we call it again one huge pile of bs?

Oh, also funny, if we assume 40 million bitcoin users not crypto, it would take 100 days for each of them to make one tx, without any other nation using the blockchain, so just their withdrawals would clog the network for 3 months!

If we're talking about soda can vending machines, the guy paid 2,974 sat / $0.77 plus he's ending with another output in in his wallet for which he is going to pay extra so if we take the value of a can of soda which is 80 cents here the last time I checked, you're wasting money !!!!
If you aim for anything higher than vending machines you're simply going to get yourself in trouble, maybe in poorer countries it works but in others, there is surveillance everywhere, do you really want to get in trouble for a few $? The correct answer is: No! And nobody is going to send you merchandise worth thousands of dollars with no confirmation.


Even before that, how many vending machines that accept direct payment in BTC (no third party cards or codes or LN)  are there?
Cause I have a feeling we're talking about an anti-tiger rock solution here!

Total Received 0.05983735 BTC, seems lucrative.
But: https://ninjastic.space/address/19fCVjYVuppjhSvZc4fYimLSjTv63SyoYD
the business did start in 2017 so it looks less impressive taking that into account.

Yeah right, some don't realize the size of the outside world! What's powering the global economy, 400k transactions a day, and a market cap smaller than Norway's GDP? There is such a long way to go till you can even remotely claim this it just doesn't make sense right now!

Hold your horses, Bitcoin hasn't grown to even 5% of its potential.


Depends on where you live and what kind of transfer (not transactions as you don't transact banks!), if it's the same bank or national bank the banks win, if it's a transfer outside the country BTC wins, if there are large personal sums moving out of the country, you wouldn't want to be using banks at all.


In theory, it is possible, not "hacking" but different types of attacks, also you shouldn't generalize, some shitcoins blockchains that are heavily centralized or rely on just a bunch of nodes are just as susceptible to attacks as banks, remember the DAO hack, the ETC attack and let's not even mention all the shitcoins that die each week because of bad programming.


If you go by personal cases then it's impossible to create a bulletproof system, soon for later even with the most secure design somebody will make a mistake, but that will not be the fault of the protocol itself, in Luke's case it was his own setup that was faulty, just as you won't be able to blame the bitcoin blockchain or code for a bug in Electrum.

The biggest misunderstanding that Japan can help overcome is that by simply printing money you don't always generate inflation, inflation is not just the result of throwing money at your citizens, it's the result of your citizens spending that money in a way that the manufacturing and service sector can't keep up with it.


The first thing when analyzing how a company is run is to drop your bias about the company making excessive profits just because it sells stuff you think is worth 1$ for 10$. There are so many costs in the process of selling a product that sometimes they completely overshadow the production costs, not even mention the initial investment, yeah I pay $100 for a bag of grain that will earn me in autumn 20 tons of wheat so I should sell the wheat for 1 cents a kilo, except for the fact that one s770 harvester costs 300k!

Another thing is that operating at a loss might be better than shutting down, it all depends on the sunken cost  some might just go like this for years as pulling completely out would trigger heavier losses, the best example comes actually from bitcoin mining, there are tens of them trapped in this, if they stop mining at 1 cents profit they incur such heavy losses that they don't even want to think about.


The buyers always determine the price, if people stop buying the price will either go down or the company will go out of business, if the people clean up the shelves the investors and the board of that company would have to be stupid not to increase the price, wouldn't you do the same?


Inflation will always cause the devaluation of a currency, devaluation of a currency will also result, although in some cases with a bit of a delay, in inflation, at least when it comes to consumer prices.

Better ask advice from the people around here who shortened the Euro when it was 'collapsing" against the dollar going below 1:1 thinking it will to half of that as Europe burns in flames! It was an enjoyable topic about doom and gloom that of course turned empty when the loom and doom didn't materialize.
That guy on Twitter is just posting clickbait and rage bait material, an easy way of gaining an audience, there are millions of people in this world who just love negative stories, they want economies to collapse, and they want to see lives ruined, feeding them with stories about crashes and so on guarantees you a bunch of die-hard followers.

Now looking at this from a realistic point of view, are you seriously going to look for advice here where there is one Canadian in a thousand users and the majority have not one clue about the state of the economy? Short the CAD for what, it was 0.8 in 1990 it peaked at 1:1 in 2011 and it's 0.74 now, you really want to dump that much into this or risk a ton on high leverage for, what returns?


And you're going to get more if that student loophole isn't fixed, not even counting the 1 million that somehow were forgotten in the statistics, if you're building 1/10 of the homes needed by that immigration wave expect the prices to go up till something fixes it, either business moving out of to more affordable places along with the workers or new cities taking the initiative and start building to keep up with the demand.

That ARK is either way going to get screwed.
BlackRock will have its chance by October 17th, if this one gets delayed the rest will just be again trashed, if it gets a positive nod then ARK will have to wait in the shadows till November 11th despite being like what, two years earlier to this circus of delays and promises? Cathie Woods is probably at the end of her nerves with this, if Baclkrock gets in first it will completely eclipse everyone else.

For 'the bad" thing, are we still cheering for Wall Street money or do we go by the not your keys, not your coins?
Depending on how you look at it it's both good and bad at the same time, the profits will be there, and the idealistic world is probably on its deathbed, after all, it's all about what you want from Bitcoin, it's a bunch of code,  you use it as you see fit or you just stop it and look for something else.


China was banning Bitcoin, the real deal, the SEC is deciding on IOU pieces of paper that might be backed by Bitcoin.

Everyone calling is bs?
It's elephant combined with dino combined with Godzilla s****!


By 2025 we're going to have 102% of the population owning crypto!


I love how DdmrDdmr probably spent more time on digging data for his reply than the guys doing the survey!
So, the bais strats from here:

50% of  82% that might have been able to take the survey is not 50, it's 40, let's further trim that down to the ones that are not only using it for whatsapp or texting? Should we also add a few 1-3% that think they own crypto when instead they've invested in a Ponzi scheme or cloud mining scam?

But raw numbers only, it's a bit ridiculous, it would mean 52 million people owning crypto, all this while we have 40,726,369 addresses with more than $1 worth of Bitcoin in the whole chain. Even if we quadruple that by adding eth or other shitcoins, it's still ridiculous.


Muslims in Turkey are not all Taliban-style Muslims, judging a whole population by the predominant religion is the bulletproof way to get it wrong, Congo, Romania, and Brazil all have more than 90% Christians, what else do they have in common?

I wonder if you could add a feature so it doesn't return results from some users.
Sometimes I use it with vague terms cause I'm not really sure about the topic or the discussion, and the results are filled by garbage posts like this guy is making:
https://bitcointalk.org/index.php?action=profile;u=1383175;sa=showPosts
and these walls of text have every single damn keyword in it, my mouse screams in pain as I scroll down and now maybe I'm ending with carpal tunnel syndrome with 3 weeks of digging ditches on my tablet. And he isn't the only one, there are a few more wall-of-text lovers that just make these types of searches harder than they should be.

Second, would it be possible to restrict the search to deleted or modified posts? 

Oh, and if there is already a trick in place to achieve those, I will see myself out.

I get it now, so you gamble with targets,  I only bet for the fun of it, if the coming festival has nothing interesting in it I might not put down a single bet, and at the same time if I see some seller race or class 5 has some horse named "Bitcoin something" I must bet on it, although the last one is 0 out of 5 and I know he will finish last out of 20. I just have a limit on how much I bet a month, never cross that even if I'm well in profit, but as I said If I don't think I can enjoy the race I'm not putting one cent on it.

That's probably the reason I would love to see discussions on racing around here, for me it's the atmosphere that matters more than the final result.

ps. Longchamp just finished, two wins, one at 1/4 odds (yup I made $1.25 on a $5 bet...looool) and another each way at 6/1, 13 lost, and my biggest disappointment is that I haven't managed to watch the damn races live!!! I don't even feel like checking how close I was.

They did almost everything to get more and more users fast, common tactic, some list shitcoins to target specific groups, some make trading fees as low as possible some question how they even run a business, and then get them to zero for VIP  like mexc has been doing for almost half a year now and so on. Not that fees can't be lower than what some were charging like Binance was doing, but too many freebies should be a warning sign.

One thing to add is that one might also check the fees in trading before, one exchange might lure you with cheap withdrawals but you pay twice as much when exchanging coins so you end up worse.


Nice one, didn't even know such a thing existed!
I'm surprised Kucoin and Crtypto.com rank so badly amongst others!

Yesterday I wanted to close the topic but seems like the latest feedback was still better than I would expect normally as it topic grow larger.

So I guess I will just give it a try for the next week, a new topic for discussion and one in games and rounds I guess where everyone would be able to choose his horses, probably the upcoming Irish Champions Festival, 4 grade 1 races on which I plan to lose d'oh , bet more than 1 mbtc anyhow.   It's too late for the Prix du Moulin which would have been great too but a week is more than enough.

I see that a lot of users are concerned it's complicated, I don't get it.
If you can play a handicap game in the NBA you obviously can do a placement in racing, let's not even talk about just setting a winner and that's it. Of course, if we go into an exchange and place against and on that's different but I'm not planning on lecturing users on that.


By default I'm banning you from my gambling topics  , We will talk only about mining speculations!  
I do gamble a lot (as in times) but I never exceed the planned sums, I usually end up betting smaller sums on weird combinations just for ht fun than going all in to make it big or whatever, and most of the time end up throwing a bet because of the horse name and some recent real-life event .


This is one of the misconceptions, you have all the data.
You know how the horse runs on grass or dirt, you know how he runs on 6f or 7 for one mile, you know how he runs on fast or slow goings, and you know his previous form ratings, it's not just blindly picking things.

I don't know why people like to talk about football as being more predictable when Denmark won the EU championship after coming from holidays not even being qualified or Brazil getting SevenUped By Germany.



Betting on horse racing is estimated to be over €100 billion annually.!!!!
And here we had users telling me betting on horse racing is dying.!  

I haven't quoted or replied to a lot of you but I'm really positively surprised on the feedback, more info than I hoped for.

Finally managed a few days to get enough free time and a bit of silence around me to sum it up and not forget the details I come across, hard to do it while on holiday, so to mix a bit of funds and have a better look at what I'm advertising.

From the start, what matters, it all went well, I trusted the thing about the clean coins so I did risk one of my exchange accounts that's fully KYC and it's been way more than 72 hours so I guess the coins are indeed clean.

Now the small details that I encountered:
The free mixing:
- the mixer offers a 1mbtc free mix to test it, I didn't choose that option since I thought everyone that was doing that,  but I did browse a bit so I realized that even if you choose the free mixing the calculator at the bottom will still show you a fee and the sums as 0.00025.Don't know if it's a turn-off for a newbie trying to test it, as obviously it will still pay the fee if he ever does bigger sums but I guess it was worth mentioning, the team probably knows better the data behind usage.

The guarantee letter
- Since the WW fiasco I have looked more at these letters of guarantee which in CM times I didn't even bother, so lesson learned. WW had those before and after the cash out, with it being issued for the mixing address before a coin even leaves your pocket might grant a bit more ease of mind to the ones doing the mix. No matter what technical issues arise with the website the letter is there the addresses are there, so less hassle and more traditional simple mixing feels better right now.

The process itself:
- the letter said it's valid for 168  hours BUT! I wasn't going to be that guy and test what happens if I send a fee that will not confirmed in that time, probably anything under 5sat/B won't make it in a week but I'm still curious, what happens if someone does so?
The FAQ says:
But I'm pretty sure since Mixtum is that old it never encountered a period of months (4 counting now) when small fee tx are not getting confirmed.
So, are funds received after the expired time returned? Probably a confirmation would bring a bit of relief to people who are by nature more suspicious and worried about everything.
I realize that it's something stupid to send 2 BTC while getting cheap and paying 5sat/b to save 20 cents but you never know!

- the funds did get sent in the timeframe,  again after having to wait for hours Whirwhind, this was a relief, but I must acknowledge I was a bit anxious all the time, reading other reviews there must be a bit of randomness in the interval so I guess it's enough.

- I did try to follow a bit the source of money, but I'm on a mobile and I'm really not comfortable checking it, as long as it works it works.

I think Mixtum is a bit different in what offers, rather than breaking the chain it offers you clean coins, so if you're not just wanting to hide where coins came from but have no fear of sending those to services it's worth paying the price,  the fee might be steep for some but if indeed it delivers, then the end result might give more peace of mind which worth a lot.

Once I'm back home I will try the precise payment method, I just went over it, and here is a suggestion, maybe remove the calculator from that page, It makes no sense having it since the amounts are already fixed and it uses a different percentage fee.

Another thing, about the reviews I mentioned:
https://bitcoin2litecoin.com/best-bitcoin-mixing-services/
They seem like they've edited the page recently and I can't find Mixtum on it anywhere, probably got paid by somebody else to be listed there or are trying to fleece you to keep you listed.

The one painting the map was the one that made the mistake, the prices in their math, as stated in the methodology are influenced by this: https://www.globalpetrolprices.com/electricity_prices/
And the most expensive places are, in reverse order Germany,Denmark,Belgium,Austria,Italy.
The weird thing is that he has mistaken Austria for Australia but was able to put New Zealand on a map, usually, lazy people simply forget about it. Looking at Australia at 0.231 it should be like 20% more expensive than New Zealand at 0.183 and 3 times cheaper than Italy.

One more thing would be why is Poland green and Romania magenta when Romania has cheaper electricity according to the same source, but like who really cares about those details when the whole thing is just stupid.

Oh finally someone!!!!!   1:20, not bad not terrible!


Fading away?
USA - Breeders' Cup, $50 million bet on 5 races, $200 million over the two days, 50k spectators each day,
Australia - Everest, $15 million, 45 000 attendance
British Champions Day ,  £30 million in bets, £5million prize money, 25 000 spectators
Saudi Cup $30 million pool prize, Dubai World Cup $12 million  pool prize
Japan World Cup, 100 thousand attendance, 6 million for the winner

Somebody paid for the Derby winner Fusaichi Pegasus $70 million and horse racing is dying?


Yup, I need to plan it nicely, make it easy to enter, and at the same time force the participants to at least know how many legs a horse has!
And, yeah, somebody will be winning definitely, even if nobody manages to get any race winner I will still hand the prize to the guy that got closest to something, like one that managed to choose a horse that got at least second or third. I need to think about this!

And where is that court decision you're talking about?
The only case is that of Craig vs Kleiman and even if Craig won as by not having to pay half of 1.1 million BTC to Kleiman no judge would be able to claim in that case that he is Satoshi,  they just ruled that he has to pay Kleiman $100 million in damages and not 500 000 BTC that's all, the rest is speculation.

https://storage.courtlistener.com/recap/gov.uscourts.flsd.521536/gov.uscourts.flsd.521536.277.0.pdf


Infamous?