The fanciest restaurant in town has only 50 tables, and in order to get a table you need to outbid the other customers, now there is an influx of tourists that have more money to spend, they outbid the locals so the price for a reservation has gone 100x times up!


That's what users decide, and if you have an influx of users, that means....

Years of brainwashing from their inapt governments blamed everything on external factors, not on their corruption, stupidity, and lack of innovation to keep up with the rest of the world. It's easier to say $ is bad than acknowledge your own mistakes.


Ok, please explain how the dollar is causing havoc in third-world economies and it's the dollar's fault not the fault of those economies?
While you're at it you might explain why a far larger percentage of the population in said countries is keeping their savings in $, unlike people in Western Europe or East Asia? When your own population is trusting more a foreign currency than your own, it's a clear sign the problem is elsewhere, right in your own backyard.


Well said, it's Comecon once more, with the same mistakes but with far fewer advantages.

Rainy day? If it's raining money that would be more accurate.
Miners' income has grown to nearly 33% if we consider the last few hour's averages, and we're finally around 10 cents per th/s after nearly a year of low-profit margin. Look at the bright side, the network is better protected also understand that this is a glimpse into the future when there will be no block reward and miners will have to keep mining only on fees.


Remember that not only do you have to pay 20$ to send $50 in your example, but the one you're sending the $50 will need to spend $20 to use those coins since he has to do a tx also, so you're paying $70 so your relative can use $30.

You're making a mess of sat and dollars.
The $8.15 is for a single input one output transaction, Binance is not doing any of those
Here is an example of Binance doing a tx:
https://mempool.space/tx/e097cd778c171aee685baf67f63a96a09f0160685108c2d13ec65c83980b0332
297 sat/vB  Fee   575,000 sat $166.56  and it has 78 outputs.
So it has paid $166/78 > around $2.12 for each withdrawal.
Or in Satoshi, they are charging  20000 and paying right now 7300 for each payment.

Wow, the amount of BS in that announcement
- Binance was charging 5x times the fees it was paying it it has always overpaid
- Binance has its own mining pool with 10% of the mined blocks, they could easily process their own transactions

The real reasons are:
- Binance doesn't want to miss on the juicy fees it mines in its blocks
- Binance can't make profits any longer even while overcharging customers with fees
- CZ as always is a piece of s..omethign and has again seen the opportunity to attack Bitcoin to promote his shitcoin

So we either go up or down or sideways? Totally agree!

You're analyzing this from the end result instead of looking at the cause, the previous cases of high fees per transaction were caused by a bull market or a span after the forks wars, it's not that high fees cause a bull market, it's the other way around. And since the price is quite flat in the last few days probably everyone is waiting before making a move, waiting for a sign those fees will have a bad effect on the price or for BTC to gain even more users due to the brc20 madness.


Why would miners shut down operations when we're up around 75% in revenue per TH?

Exactly, oil to electricity is a bad thing, and the conversion just doesn't make sense, you can get around 600kwh from a barrel of oil, forget the energy capacity, that's the actual production of max 15kwh per gallon, so to be competitive in mining at max 10 cents per kWh you would need to sell the barrel at less than 50$. And this is not all the refining, all the gear, the manpower, and everything else. Besides, oil is transportable and far easier than...gas!
So if you think Russia is powering miners with excess electricity that's coming from gas it can't ship anywhere since there are no pipes, not oil!

Back to diff, here I was saying things were boring in mining 
2.34865387BTC fees in the last block, I don't even want to count the average, we've gone above 30% of the reward!!
And despite sky-high fees and income:


Probably this pace is the last thing some waiting for 10sat/b fees to confirm wanted on this weekend.

Over the past months, we have been bombarded with articles about the global de-dollarisation, how countries will quit using the USD, how the petrodollar is doomed, how the entire US economy is doomed once the usd is dropped, how the Zimbabwean dollar, the Argentian peso, the bolivar, the Iranian rial and other, can we even all them currencies? will definitely replace the dollar for trade settlements. And, if you're not so bright, it makes perfect sense, the evil greenback is holding the economies of emergent countries down, it's not corruption, it's not stupidity, it's not the lack of planning, the one who is to blame is the $.

So, some  leaders have come up with the idea, let's trade in our currency and prosper! Except for the fact that when you leave the realm of politics and propaganda for your voters and you enter the realm of economy, well, shit happens!
https://www.businesstoday.in/latest/in-focus/story/we-need-to-use-this-money-russia-says-it-is-unable-to-utilise-billions-of-indian-rupees-380345-2023-05-07

And the whole thing is pretty simple:
- there is no perfect trade balance between two countries, one will run a trade deficit with the other so one will end with a ton of useless monopoly money
- in order to use the monopoly money to trade with country C it would need to either convert them to a hard currency that everyone wants like the $,  or to the other country's fiat but at this point, you would have to trick them into accepting your surplus useless currency and who would want that?

Anyone who has read a bit of history would know about the Weimar inflation, it was caused mainly because Germany printed monopoly money to exchange them for $, and thus their own currency failed, because nobody wanted the Papiermark. And this is where we arrive to exactly the bilateral India-Russia trade:


Simple as that, ruble-rupee trade is good until you need to use all those money, and for the use, you have to exchange it into a trustable currency, at which point you realize nobody is taking monopoly money India can print unrestrained for good old $!

The chances of more countries using their useless fiat in order to settle trades?
Just as much as every single one of you denying a Bitcoin payment and choosing to be paid in PooGrow, which is an actual coin, btw!

He might not be stupid but this was beyond stupid.
And his statement is just as cringy:

No, what you've managed to do in the eyes of the neutral ones, not the crypto and not pro banks users who read this is making a fool of you and making people think crypto lovers are just people who have their pockets full of cash and can afford to throw money left and right because they make more out of tricking others with their doomsday cries. That's all he has managed to do with this!
Remember McAfee? Th same thing, all that was left was just ridicule!



This has more to do with the guy from 4 Lions entering a shawarma place to blow up the infidels!


Tiny problem with your theory!
The guy is a former CTO of Coinbase, he left Coinbase 4 years ago!

You should really check the dates of the OP in a topic before replying, maybe things have changed dramatically from when this topic was opened.
The dollar has lost ground against the Euro in the last year, so in a yoy period the euro is 6.25% against the usd!



So next time, put more effort into double-checking what you post, rather than making sure how much mandatory text you post!

But this topic is quite nice, after pages of enthusiasm about the Euro dying, now that is back at the same value, the panic is gone, and the EU is not freezing or crumbling the whole topic has gone empty. And there were so many marvelous predictions here about how it will become useless...

Are you really lecturing me on this?  

You completely missed the point of my remark.
It was about the record number of traction in a day, if in a day you have only 120 blocks it will be nearly impossible to make a record in the number of transactions even if you cherry-pick them by size and deny sanctions over 10 inputs/outputs. At the same time because when there were 170 blocks mined there were only huge transactions mainly consolidation because of the low fees, you couldn't break it either.

So yeah, block time does directly influence the number of tx in a day, and no, it's not a perfect correlation to the actual hash rate, and quite a bit of luck and variance. For example in the last 24 hours, we only have only 124 blocks mined, you think 15% of the miners have shut down their gears cause it's Sunday?


Really? Last block mined:
https://mempool.space/block/000000000000000000035434a80dd8e575f113f6bde1f42d5a2640e280d01ac5


Negligible???  

ViaBTC is simply annoying with this fork war thing they are still mad about, they are probably the only service left with this kind of counter, so the 10sat/vb is actually closer to 20, if you want to save to the last satoshi to go above the limit and you have a ton of inputs and output you're in for a major headache., so better go to a tx size counter before broadcasting or RBF one!
But ironically, Viabtc is also the only true accelerator left.


Huh? Try broadcasting it directly in services like Viabtc!
I see no reason why nodes refusing on one over 20sat/b, not even the default mem size nodes are dropping those, and there are plenty with more, mine still has room.
 

Ok, let's not play with words and try to make it look like it's nothing.
There is a clog! The moment you pay a fee x10 smaller than the top and you see that you're going to wait days for it that's the definition of a clog!
It's Saturday afternoon when usually you could send 1sat/b tx and have them confirmed and we see the last block with a min 114sat/b 260k transactions in the mempool and not even a full day of no tx will manage to clear the backlog now sitting in the mempool.
It's a clog!


Where do you see this drastically decrease cause for sure it's not in the mempool, it's not in the numbers of brc20 tokens minted and I see no sign of it going away.


So? Let's ask around the forum in the sections where only hardcore bitcoins post what ETH is!
The answers will be shitcoin, centralized scam coins, useless smart contracts, NFT garbage, and so on!
Some right here in this forum should understand that the general consensus here doesn't apply to the outside world and this community is just a tiny fragment, labeling NFT as a scam, shitty, useless, a waste of time, waste of money here might not mean a thing to the majority of crypto users.

Exactly, and I could do that with a few hundred dollars in satoshis, how would miners then prioritize transactions to avoid spam?
Go back to blacklisting and turning Bitcoin into Bank of America?
Fees are the necessary evil unfortunately!


Not a maybe, it's for sure.
https://bitinfocharts.com/comparison/bitcoin-fee_to_reward.html#3m
Right now fees are around 10% overall but with peaks reaching 1.82BTC, closer to one-quarter of the reward for small intervals.

Are you serious?  
You're asking on bitcointalk bitcoin users if banks will face more difficulty and you think you will get a single nonbiased to the core answer who won't point at the banks disappearing by June, the fiat system collapsing and lemurs in Madagascar paying with bitcoins their mortgage?
This is the epicenter of the doomsayer's lair, banks are gone bruh!!! Don't ask silly questions! They are doomed!
Meanwhile, thousands wire money in and out of Binance to get their profits in shitty dollars!

Fees are necessary!
Imagine how the mempool would look right now if we didn't have fees!


There is no such thing, a miner will do the same amount of work for an empty block and a full block, there is this misconception with the transactions numbers or size or fees require something extra from the miners when it's not the case. Also, it's a bit silly, what "extra" work would miners have to do for this and how would they even do it?


To prevent spam.
If it weren't for fees you could split one bitcoin into 100 000 outputs with zero fees and then consolidate and split again occupying all the blocks that day without paying a cent, rendering the network useless, with a fee it will always cost the attacker a ton of coins to do so and you could always outbid him if it's something urgent while he must do this continuously.
Later on, it will be of use to incentivize miners to keep mining as fees grow in % vs the reward but we're not there yet in normal low fee times.

The single block size is still 1MB, nobody is going to run out of storage space with such an amount added each day, put in a 1TB drive and you're set for a few years.
As for the ram needed to host the mempool you can limit that from the settings, most have a 300MB limit already and it's not affecting too much, it just drops low-fee tx which would anyhow never confirm, all you need is to rebroadcast it again when times are more favorable.


The ones minting brc20 tokens are not giving a damn about security, they've smelled another hype and are trying to make some money, that's all. These people would create tokens on any clone of a shitcoin of an altcoin if it were profitable, I'm willing to bet quite a few of them don't even know BTC is not GPU minable.

This was just like that F35 the Iranian army downed only to find out in the morning they've killed 150 Iranian passage on board a civilian plane, right?
So let's go over the FACTS (you know, those things you really dislike) about what happened

- US seizes an Iranian oil tanker in the Indian Ocean
- Iran tries to flex its muscles and seizes an oil tanker - Advantage Sweet which is owned by a Chinese company and kidnaps 23 Indian crew members and a one Russian
https://apnews.com/article/iran-oil-tanker-advantage-sweet-seized-40b8f90bc0484fcd626903eef5faf64c
- One Iranian tanke goes boom
- Iran tries to impress its citizens by seizing another oil tanker, and again owned by a company based in Liberia and operated by A greek company

Of course, the impotent US Navy was just watching, they could move a muscle while they were rolling on the floor thinking how many blowjobs the great Buttaholla is going to have to give Xi to forgive him for his stupidity.


How could have the US confirmed the capture of its tanker when it was Chinese owned!?
My god what propaganda does to some!

Oh, and back to the subject which is not the US, not Iran, not the great buttaholla, and the European gas which hit another low, and US delivered LNG which is again 6 euros cheaper than Russian gas.
So excluding the Covid period when everything went near zero, if we look at longer data
Russian gas was 21.242 5 years ago and 26.320 10 years ago.
US LNG delivered to Western Europe right now is trading at 32.359.

So a huge 22% , lol!!!!! , increase in gas prices in 10 years. Disaster!
Oh, I forgot to mention that the deposits are refiling already and have passed 60%?
You know, facts!  

A legit reason to buy a stolen account? Hardly!
The only one you could claim as legit from a moral point of view was mentioned before, as being a citizen of a banned country and you have no other way of dealing with exchanges, but you still
- use someone else identity and might land him in trouble
- break the rules of the said exchange.

So, no, there is no such thing, forget the exchange itself, you're stealing someone's identity and using it, which is a crime.


Almost all of those hacked accounts are clear, everything has been replaced, thieves even sell more expensive verified accounts, with full F2A enabled, and new email address access. Do you really think all those darknet sellers and buyers are that stupid?
If everything would have been a scam, do you think you would still have darknet marketplaces with thousands of users?

Anyhow, a ton of those accounts are not even hacked, they are simply accounts created with stolen IDs, far easier and cheaper, with everyone throwing their documents at every scam requiring KYC the price for a full set has gone down you can buy it for pennies.

Eh, it's not really ordinals as the previous ones but brc-20 tokens, and everyone is still calling them ordinals so I did the same.
Those are really small in size, almost like any other transaction
https://blockstream.info/tx/bc7d958993ee372c307364db37cd01ba572c67c4db3182c7438c0c16128e5543

We even have services for minting your own tokens, pretty cheap at current rates
Total: ~39221 sats ~$11.23, for a batch of inscribing 10 000 sat at a 137sats/vB fee.

Last 24 hours:
92,159 minted
+14,405,820 JAKE, +18,708,000 fuck, +89,760 subC, +430,100,000,000 sats, +9,552 data, 36,112 other
https://brc-20.io/

Is starting to look like coinmarketcap with that many! Only 9054    right now!