So, how do you do it?
Because you posted normal pictures from a store, not pictures showing how you accept bitcoins, how people pay for it, or one customer using that payment option. These are genuine questions, what wallet do you use, what do you use to convert the prices from naira to BTC, do you use LN or on-chain transactions, how do you deal with confirmation time if it's the second? As others said, it's easy to propose something when you're not the one at risk of losing money.


Yeah, everything will be fine, this statement sounds like you're asking for it.


So, which one is it? 

To me, the most important thing is the last one posted and it's basically what Bitcoin was designed for, so not putting that one first is pretty weird


That's the main advantage, the rest you listed are somewhat meh, depend a lot on the country you're from!
Taking one by one, let's be honest there are billions living their entire life without making an international payment, in EU you have instant bank transfers, no VAT payable over a certain amount, and right here I'm actually curious about what country you're from since I've never heard that before.

That aside, there is one funny thing also:
This is actually false, you can't pay less than 3 cents, cause the smallest transaction even at 1sat/b fee is ‎111 vB so, so almost 3 cents.


Common, this world is full of people who do monthly international payments of over $500 000, let's be realistic on this, less than 0.1% care abotu that and more care about how much they pay for a loaf of bread.

It's already in use, and actually, it has happened before Bitcoin, the KSI blockchain in Estonia does exactly this.
https://e-estonia.com/solutions/cyber-security/ksi-blockchain/
https://www.pwc.com/gx/en/services/legal/tech/assets/estonia-the-digital-republic-secured-by-blockchain.pdf


I don't know about the Pakistan case as they offer limited information about it but how this is implemented elsewhere it has no KYC stored, you are just granted a digital ID with which you can pass KYC checks since anyhow you need a central authority to verify this they are the ones they will issue your e-Identity. After which you can use that to sign every KYC-related check, the ones requesting it from you won't have access to that data but they will know it's you doing it.

Oh, I have a better idea!
You first contact the government cybersecurity unit, you provide them with the source of funds, your id, your fingerprint, and three stool, sperm, and saliva samples, and after a check, they will assign you an address to which you can send the funds you want mixed and an address to which the funds will be delivered.

It will be perfectly ok, it will mean you're secure from getting your coins tainted and no more of those nasty Koreans troubling your dreams.


Yeah, that's exactly what I was missing, I couldn't sleep at night not knowing how to help in the war against money laundering.

No, it's actually no point debating this anymore as it has been already labeled a waste of time a decade ago.
It has been debated since Satoshi was still on this forum, it's about time we quit


It's no point trying to reinvent the wheel, and certainly not by taking control over other people's money in name of economic stability.
That's why Bitcoin exists in the first place, so you don't get locked out of your account once a bank decided 50k is enough for you and the rest goes Cyprus-style donations.

Plus the whole thing is a waste of time, let's assume Satoshi is still in control of his coins and passes down the keys to his family but those want to keep the coins intact. They will still sign a message and keep the coins but the coins won't be in circulation, so how does this help anything?
You would still have 1 million coins missing from daily activities and things will be the same, all you have is the confirmation they are not lost!
Economic impact, zero!


No, there will be a centralized entity that will decide how much time you have before your funds are taken away from you.
Automation doesn't mean it's not centralized,  it will be the same as banks, once you go over a limit based on the decision of the government the money above the limit is not yours anymore, it will still be a protocol that central authority decided on a whim for how long can you keep your funds (account) unused.

Never gets old:




It's a BATM that does accept banknotes.
Besides, if the thieves had enough time they could have simply cashed out a lot of Bitcoin in multiple transactions once the BTAM was broken.

Insert $1000, buy coins, grab the money through the hole, feed the BATM again, and buy another 1k worth of BTC or even more, you didn't even need the BATM to have any cash in it, you could use your own as you would get it back immediately.

Yet you're thinking of this over a 100 years period when it's obvious the bulk happened in the first years.
So just as we lived till now like this and we're going to do so over decades from now on till your "clock" starts ticking.
Just as an example, if we assume there are 1 million lost coins only in Satoshi's case then you have half of the next century's future supply just there.


Future maintenance? Lowering satoshi?
You do realize that even if half of the coins would be actually lost, it would mean only an increase in the price of 100%, the last bull run made a 6x, there is no need for that and won't be anytime soon, for one satoshi to reach 1 cent you need first Bitcoin at 1 million and even in that case, you still have milisatoshi on LN.


I can still burn all my banknotes before I die, take that from me!


No, it's not!
I have wallets I haven't touched in years and there is no way you're going to make me go through some centralized bullshit of proving I own this or force me to change my address every year to show the world my wallet is active.
Just deal with it, nobody likes your idea, it will never be implemented as it goes against the main principles in BTC and that's it!

Do quote a few of those "many". I'm really curious about them.


Ethereum is as decentralized as Ripple right now, if Buterrcup dreams of something tonight the whole thing will change tomorrow without any of you "investors" having even a say in this.


Always nice to find out who you're really talking to.
These 2-4 years are just like those 3 days to Kiyv? Don't worry I don't expect an answer, I already know your decentralized sponsor is not allowing you to discuss things like that. 

There are a few differences:
- the other banks are not in such a crisis and there is no economic crisis affecting every single player out there, it's just them
- 61.02% is on a 5-day period, if you look at 1 year the numbers are -94.56%

That being said, seems like Coinabse is jumping from a sinking ship to one that just hit the iceberg, and contagion is spreading to Signature Bank which Coinbase just replace Silvergate with.
Funny though, Signatures shares were going better from December till February since they decided they will shrink their crypto exposure now they are back on the rollercoaster.

About time for a major cleanup, we've diverged way too much from being our own bank to having crypto banks influencing the markets more than normal users and usage.

It will probably jump even more than 200% before that, everyone wants a pump so bad it will probably happen just like that and no other reason, a sudden FOMO out of nowhere, which will make things even more interesting, putting more gear on the market and driving the hashrate sky high, the profitability down back to the levels that we see now, only to have the revenue slash in half and no instant growth on the horizon by the halving . Makes me think of expressions like "the bigger they are, the harder they fall", nobody really cares about a few bitcoin mining companies going broke, it's just a few tens million, but if these double or quadruple in value and "investments" it's going to be a fun ride.

Mara is set to deploy up to 23EH by the end of Q2, their report for February shows 9.5EH, Riot is falling behind, lol, adding just 3EH in this period, we're going to continue to grow for sure, probably not at 10% paces but small 1-5% steps per period.

And Bitmain is selling gear that will ROI in 1100 days at 5 cents, and in 5 years at 7/kwh 

Oh yeah because it's completely accurate to compare industries that if shut down will lead to billions dying with bitcoin mining!
You've seen what high energy prices have triggered all over the world? Compared to the effect of the hashrate drop in half, oh wait, was there even an effect at all? Totally fair to compare industries that 8 billion use to work, feed themselves, and many more,  with 300k transactions per day and only 15 million addresses with over 100$ of funds in it.


Yeah about time, here is it, by Galaxy Digital, so you can't say it's banking shilling
https://docsend.com/view/adwmdeeyfvqwecj2


Bitcoin Mining Council:
https://bitcoinminingcouncil.com/wp-content/uploads/2023/01/BMC-Q4-2022-Presentation.pdf

Also, it's pretty funny how you talk about banks' AC units, the vans the offices, but when it comes to Bitcoin we only add mining, wound;t be right to add the servers of Binance and Coinbase, their offices, all the BATMs all over the world, all the nodes and so on?

I don't know why everyone gets so triggered when somebody asks for transparency!
Wasn't this one of the goals here, or when it comes to Bitcoin we don't want to hear the bad part of it, much like some cultist who won't take any criticism on the Bible or whatever their holy book is?

But yeah I get it, when it's against your interest, it's normal to hide stuff, no more moon if we tell the truth, right? 

Yes, it would be possible to implement, but the moment it does happen you can count Bitcoin as dead, and this time for sure.

Furthermore, it's quite funny that OP thinks we should re-add coins that have not moved for 131 years and that would be a solution but what will happen 108 years from now, when there is still one year before the great reset? It's highly possible that the amount of coins lost for sure, dust left rotting in deleted wallets and so on would already be half of the coins in circulation so what help would that be if we already have gad decades of less than 21 million moving coins behind us?


So, you have the right of stealing the banknotes I keep in my safe after around 200 years when polymers start degrading but despite that seems like you have no right to "recycle" the gold I bury in my garden since gold doesn't degrade. Funny how sometimes nature can be a bitch and stops mimicking human activities exactly when you need it more.

It's stealing! You have no right to take over my coins, simple as that!
Just as you can't enter my house and grab a painting because the museums are running low, you can't touch my coins!

If sanctions wound;t work then you wound;t have all those countries under sanctions begging every single week to have them lifted!
You won't have Russia demanding and threatening with reciprocal actions, and you wouldn't have Iran begging on all for with inflation at 50 to have them lifted, it just takes time, but once they are in place that country is done forever. Just because there are people still living in Cuba and North Korea doesn't mean the sanctions haven't worked. Will talk in 2-3 years and talk about Russia's income is on par with sub-Saharan Africa.


Oh, when was the last time Zimbabwe invaded Europe? 

Depends on many variables
Right now it shows me 0.00030942 BTC and $6.93  but Viabtc is 0.00028699 BTC and $ 6.41338274.
I'm a bit unsure how would Nicehash pay more if it weren't just for luck, and just from renting power for sure you can't get that much difference constantly as it would make no sense from the buyer side to overpay.
Anyhow, last 7 days we had a -4.5% drop in price and we're going to get 3% in diff, so, there goes the Nicehash bonus! 

That's why I was telling you it's all a matter of how much they want this.
They can just pretend they asked they got an answer and be done with it or they can start an investigation committee, if that gets traction and it has bi-artisan support with no opposition then it can lead to every known agency investigating everything about the said business, and they can subpoena anyone, like literally anyone!

While being legislative and not judicial indeed, and thus the committee can't judge anything they can ask for further investigation from the DoJ, and that's where judicial power and prosecution begin. And we all have seen what the DoJ can do, even overseas, like BitMex.

If a country is cold it doesn't mean all the population is living in arctic conditions.
Look at the table I posted above, 25-50 of the population in Scandinavian countries are living in areas that have a milder climate as Beijing for example during winters, just because in Nunavut there are almost no temperatures above -20C in winter doesn't mean it's representative since there are only 50k people living there.
Common, stop picturing all Scandinavians like reindeer herders.


Ulan Bator is far colder than any of those, how much innovation have you seen coming from there in the last 5 centuries?


Yes, they do, if they could produce all the energy they wanted they would simply have had more aluminum plants built already.
But geothermal has also capacity problems, you can't just drill every square meter and extract heat from every single rock as that would simply lead to the wells cooling too fast to extract any meaningful energy, plus there are cost due to different depths, so no, there is an infinite resource available and the one that is still left as untapped potential is far costlier than what they have now, which would lead to higher and not so attractive prices.

Do you really think they just sat there for 30 years not doign a thing and had to be told by a bitcoin miner guy that they can build more?

No, they aren't in their current form, there was a previous case when they demand miners in the BMC group the numbers of the electricity they claim to use and the renewables part
They all went crickets as they knew it was going to be bad for them if they answered it.
So no, Binance can do the same or answer with something that has no further implications, the usual mumbo jumbo!

As for an investigation committee, yeah they can do that even now, nothing is stopping them but they need political support for it to actually do something meaningful.


Being global or as CZ calls it, decentralized means nothing really to the US, yeah Binance can ignore requests from Toga or Madagascar but depending on what they find out from the investigation and how much they really want to bring it down you will pretty soon see a change in CZ's attitude and willingness to share everything with the feds.

Because we knew in January about the liquidity crisis.
Right now, we have a signed document from them, sent to the SEC, the one I linked above which is dated March 1st which clearly says they can't provide the current annual report in due time and they have to reconsider if their current situation allows them to keep operating.

So again, no FUD, but facts! If your current bank would say they might not have enough funds to cover all assets, they're down 2/3 of their deposit and might be out of business would you keep your money with them, especially since your funds are not insured?


Denial is strong in this one! A signed document published by SEC is "rumors"?


Things will not change even with full adoption if the largest payment gateway between major crypto exchanges is going down and is facing bankruptcy the problems would still be there with or without mass adoption, the only difference might be in the amount we tumble for bad or worse. Just look around you and see how interconnected all economies are, how every commodity or asset varies based on market conditions, bitcoin will not be exempt from those in case something bad happens, it would be weirder if this wouldn't happen!

You need to understand that global adoption and institutional investors also come with disadvantages, we haven't invented in some magical assets that are immune to the market woes and last year should have proved to everyone that.

Nothing, we just pay more and I might start mining again with all those juicy fees! 
If the fees stay high it means there is still usage, so people keep paying, just as how it happens with ETH, it will be bad for the ones doing transactions on the chain but at the same time it will have a positive effect on pushing more LN adoption. One more positive fact is that it is driving franky1 mad, as seen above!


Highly unlikely to see any change, after the block size war nobody will try to open that can of worms again, especially since it would mean actually acknowledging a bit of what big blockers were saying is true. The only other thing is to ban ordinals, but that opens another box, this time it's Pandora's turn. So, the users will have to adapt or at least wait till the hype will die, which I assume will be faster than most expect.

Since Binance introduced KYC in 2021 and had basically no limit on trading and moving funds if you hit one of them you could simply have a new account in your dog's name I'm really curious how are they going to try to avoid this cause one thing for sure, even if they wanted to show something they don't have anything at all.

Seems like they're getting ready to steamroll them, the whole BUSD was just target practice.
If they will manage to convince the SEC to ask themselves for this it will be really and for Binance, this letter they can still ignore this as it's just a request, if Gary signs the next one, it's going to be different.