If you're referring to that $12mil farm it's not just rumors, it's real, the funds have been approved and they are going to mine at some damn cheap electricity rates, but it's still only 30 000 miners that will be deployed..some time from now, so it will be probably just the tip of the iceberg.
Meanwhile, till that is built the pace is going bananas,


this is just insane, I understand that the price made it more profitable to mine but we're still looking at just one extra cent per ths/s and 1$ a day per machine, I really can't acknowledge that such hashrate was standing by and just got powered up by this little swing in profitability. If this is true how much more will come online at 10 cents/th?
This is going to be an interesting halving, really interesting! 

Guys! This is not about becoming a crypto hub, this is about fixing a fertility and aging problem with a crypto hub
And neither of the two examples, Dubai and Singapore are the ones you should look at when it comes to those issues, cause:

UAE has one of the lowest fertility rates in the world, study finds
Singapore's total fertility rate falls to historic low in 2020

With UAE at a 1.39 and Singapore at 1.1  they are nearly in the same shape as South Korea, and even worse than Japan at 1.4.
I really don't understand how came up with the idea that your people that are attracted to technology and want to start a business and dedicate time to their careers are the ones that will start multiplying like rabbits when it's obviously the opposite.

Inflation adjusted $1 million or $1 million no matter what that 1 million would buy?
The first is really hard to achieve, the second is more achievable.

The problem is where are all those money going to come from since a lot will either sell for $ or for goods and other assets so you simply have to insert a matching number value back into the system just to keep the price, and if we look short term, so that's two halvings you would still need to cover up $250 million in newly issued coins each day only to keep the balance.

Second is what users will perceive bitcoin at that time, it's easy now to get investors on board, the price is 20k , it was 3x times not so long ago so 10x returns sound plausible to a lot of people, but when the price would be half of the target, like $500k, do you think there would be that many with hopes of another 10x in another halving.?
That's the reason why some go into shitcoins, because they know over a short span there is no way for BTC to match some of the shitcoins growth that can spring 20x in a month, of course, followed by a return to zero and dust. But that's the thing, a lot throw money at start-ups because they think it can give them a solid return, not that many go for old reliable companies that have a solid business model but which can't double their profits overnight.

So Tesla shares are also deflationary, since in
in 2012 if you would have sold one share you would get 2 loaves of bread
in 2022 you would have got 600 loaves of bread for one share

Oh wait, even the USD is deflationary if we look at data processing costs


With 100$ you could get a 32 GB SSD in 2009
With 100$ you can get a 1TB drive now 

Oh but wait, since Bitcoin has lost value since 2021, does this mean it's sometimes inflationary sometimes deflationary and sometimes it has no clue what it is? 
Two weeks ago it was deflationary, two days it was inflationary and now is again deflationary 

Except that the price is not falling at all:



Why? Do we have a right way in which we should all voice our opinions in unison? 
Take for example your view on the two communities coming together and granting more support to BTC  cause of NFT,
do you think that everyone is happy about this? Don't be so sure, maximalists don't like this at all, and it's not everyone be happy, let's all shake hands and sing chants together.
Even here some are really pissed at the turn of events, just check some topics and you're going to see what I mean, as I don't like to point fingers.

Anyhow, two things
- for now, Bitcoin is inflationary, every single day you have more Bitcoins in circulation, that's inflation. It's also inherently deflationary since at one point it will become so once the priting stops.
- the number of addresses with a balance is something normal since we get 900 new BTC each day and we still have usage, but number o-f addresses =/= people so you can't say for sure we have the same growth and not even be sure we do have it.

But we currently don't have any other way of allowing everyone to voice and take action based on their opinions, and since it's a fucked up world, even the results won't be telling, since more will forget about their vote and follow the $/BTC. So yeah, I was describing how that should normally be done, not that I believe in the method and the results.


Censoring stuff in an anti-censorship tool, opening the pandora box, now it's ordinals next it will be MARA look-alike filters, all that bla bla crap we definitely don't need.


Oh, consensus, I'm pretty sure there won't be any, more than that I'm also betting on the fact that the majority won't caree about this nor do they even know about transaction fees or anything else. And just yesterday I stumbled upon this gem, and it's not a newbie saying it:


So, at this point the average Joe probably doesn't care about the tx fee, doesn't care about running a node, and would not give a damn about our fork or consensus! 
Which is not really painting the pretty picture I want to fall asleep looking at!

Mempool has 80vMb with higher purging rates than others, make that ~120vMB at 500MB with purging everything under ~1.2sat/b, so one can easily assume that if a bit of it is cleared a lot of the 1sat/b sanctions that have been purged will come back, it's highly unlikely that everyone that had a broadcasted 1sa/b tx just went and upped the fee. Then add the extra 37 blocks we had due to more hashing power and it's a lot worse than just 33 blocks.

3 days till the weekend, although the mess started also during the weekend!
Does anyone have a link, graph or something that counts these "minting' transactions/day?

Simple, use a debit card!
Again the same interesting thing, on one side we preach about being the bank on the other side we think people are not able to manage their finance correctly, so which is it?


I don't know how things are there but I assume the 10k is the advance payment for that apartment while the car is a full payment?
If it's like this, of course, it would be allowed since in the first case it's a standalone transaction, the other is splitting the payment and no company will ever want to deal with the accounting headaches, just as you said I would do the same refuse the payment and send you with your cash to your bank, deposit all that there and make a single wire payment!


Yeah, but it doesn't make complete sense either, because if you're in a country with more fraud and crime and tax evasion you would want to pay through a legal channel, so in case you have problems with what you have bought you have proof you've paid the guy that amount. So, from a consumer point of view, it would make more sense for southern customers to be using bank payments for their own safety.

South Korea never had a one-child policy on the same level as China, what they had was a campaign on having no more than two but which was not enforced at any level, it was promoted a lot but still, some had more than two children, it's nothing like China and the fall is far more linear, based more on economic and social development rather than penalties and government policies. From the link you've quoted:

It was just encouraging and promoting, and even without it would simply have delayed the inevitable, every single country is moving towards that except for parts of Africa, but that will change also in less than a decade and probably the shock will be even worse.



This thing is unavoidable and I don't think any crypto hub or whatever will change this if it would have worked California would have managed to avoid a halving in fertility rate since the '90 with all those tech hubs, but it ain't working at all.

Theoretically, in a completely free and decentralized system, this equilibrium should come by itself, right now, god knows where it is.


It's pretty easy, do you consider the block limit causing problems (Y/N),  if no it's obvious if Y then we have 3 choices:
- make more people go to LN, a thing which although the ideal solution is not happening so you would have to enforce it, which is bad
- ban certain transactions, which go against some principles
- raise block space gradually and witness the consequences, I don't think that a gradual 2x every two years would harm that many nodes.


It's a space and if we go to the extremes ram issue, as I said before an increase of 4x in block size assuming full blocks won't be that much, not if at the same time, we preach for the average Joe to buy a hardware wallet, to have his own airgap coin storing solutions, and to have a different device altogether other than his work laptop or smartphone when he deals with crypto.
What the difference between an already needed 1TB drive and a 2TB drive that would only become obsolete 4 years from now? I would say it's nothing to be scared of!

Anyhow let's see where this madness will go, normally the FOMO should die out but before it impacts the fees more than it has already but at the same time, short interval, we should be thankful for the mining pace increase (519 / 482.27 expected, 36.73 ahead), 36 blocks ahead of the normal schedule in 3 days that have eased considerably the mempool.

18 cents per kWh is a way to lose money for sure, you will never break even, it's barely profitable in cents a day compared to cost now, and with difficulty may be going up again I'm not sure even the most efficient miner will be able to mine and not be in red, and the S19XP Hyd is on preorder so you might get it when the difficulty is already 20% up if not more.

Even if we assume sky-high bitcoin prices in the future will make it profitable, at current rates it mines 0.00080579 BTC a day, you could simply spend those $8000 to buy 0.35 BTC now, more than the miner will bring you in 440 days without extra cost, so clearly it's way better to just buy the coins directly and not buy an overpriced piece of equipment that earns pennies and might break even before that.

OP, stick to buying bitcoins and be careful of cloud mining scams, don't fall those as you seek to enter mining.

There is also this post, made by me showing how the loan was paid. Basically by taking another two loans from different banks!


That's exactly what it means, people don't flee heaven unless they are chased from it, if more people leave a country that they come in it means simply that on average they don't find it a nice place to live there, and for sure not a nice place to grow your kids either.
Salvador -25k, United states +500k, Germany +300k  it's pretty obvious what people want and where they want to live.

No, it doesn't work like that, because we have the $ which drives everything round here right now!
If there are no users the blocks are empty and you can host the node on 5-year-old smartphone, but it's useless, right?
If there are no nodes but there are users miners who will see all those tx fees and will definitely spend $100 on another hard drive to have a chance of getting all that $BTC$.


Bruh! Sorry but at this point, it feels like you don't know what you want either. At one point you say that increasing the block will definitely make the fees go down but at the same time, it won't fix anything but it's also it's more good than bad. So, ....... which is it?

But leaving this aside, I really want to know why you're so focused on the cost for a bitcoin node but at the same time you have avoided twice in a row pointing to a number on the cost!
I don't get the logic here, it seems like the same people who see Bitcoin replacing all the global finances, trashing WU, Paypal, and destroying the USD will fail because of the cost of a 2TB SSD, you have to admit, just the thought of this is ridiculous. If a bunch of crypto kitties is making the network unusable then probably everything was just a wet dream from the start!

So your solution is to take your people from somewhere else so that other cities and the countryside suffers from the problem Busan was suffering prior.
This is not fixing something, this is just kicking the can, plus it's if those young newcomers will not start having kids you wouldn't have even patched this, in ten years wou;re going to have the same problem but with no more young population to attract from anywhere.


Both countries have a negative net migration rate (more people leaving than coming), so, how can you call this doing well?

If there is no average Joe using bitcoin there is no need for the average Joe o run a full node!
Can you give me a breakdown of the additional cost that the average Joe would have to pay over 10 years for an x4 increase in blocksize?
Because we already know the cost average Joe has to pay now to do a tx with the chance of being confirmed, that's 30 cents a day, so around 110$ a year!


No, it's the same.
You need Bitcoin to send bitcoins and you need fees to compete with others for the space in the block.
If one miner (like Luxor) decides to do something stupid and include zero fees transactions it doesn't matter, Luxor could have mined a zero tx block or a 1 tx block, this would be, again going to the car analogy like Shell letting you fill your tank for free.

If a mining pool decides to do something this stupid it will simply chase away its miners, and miners have different views on these issues than the average Joe, for example, miners don't like transactions accelerators, because if they accept lower fees tx it means less payout for the miners also. By the time the reward will drop further, nearing half of the revenue or even lower any mining farm and mining pool pulling out this nonsense will just go bankrupt.


I am curios about the miner who would pass a $5,731 (last block reward) and do this for every block, let's assume 4 times more since we increased the space, that's $20k, and in a scenario the miner has 5% of the hashrate, how about 7 blocks, so $140k a day loss. Would you do it?
Especially since right now $140k means the income of 2 Exahash of hashing power a day?  

You realize that all fiat currencies are used to just do this and are powering up a global trade worth nearly 30 trillion?
You're basically asking a question ignoring why Paypal, WU, or Visa exists in the first place!

Also, another hint, do go through the white paper of Bitcoin and Satoshi's post and find where the investment and profits and returns mentioned!


Please tell me this is some sort of huge auto-correct mistake or it contains so much sarcasm my detector broke!
If it's not this, and there are more thinking of this then god have mercy on us!

Sorry but I don't see how this works, it makes it easier to spam but it makes it far costlier to clog the network.
By the same logic if you shrink the block size by a factor of 4 you would make spamming more expensive, but how would that help the average joe?

Second, there is this myth that is also rolled over in the real life if you increase road size by 3 times you will just have 3 times more cars, I wonder what will happen if you increase the road 10x times, you will have people drive  5 cars at once?
The same thing is with block space, if we increase the space by x4 in order for the spammers to clog the network as they do now they will have to block at least 75% of the capacity with their spammy transactions, right now the fees are 25.58 BTC , for them to make the other 75% completely inaccessible for the users that are still sitting in the mempool now they would have to cough up at least 75 BTC, that's $1.7 mils and still let the transactions that are now being confirmed pass through.
With the current blocksize with $1.7 mills in BTC you could spam all day the current blocks with ~70sat/byte.
*rough calculation, so I might have got some wrong in the +/- 10% area.

Also, another thing, from a miner's point of view, I would rather have spamming and consolidating inputs at 1sat/b rather than have empty blocks, because they still pay for it and that goes to the miner's revenue. And more miner revenue, more secure the network will be!

First, we will congratulate each other for living at least 100 years because I was in middleschool when the US was supposed to default and it's most likely my kid will finish college without it happening.
Second, nobody is going to give a damn about the bitcoin price anymore, with all markets collapsing, trade going bust and countries switching from 3rd world to sixth world economies, there will be nothing left to invest in Bitcoin anymore, you can see the effects right now in the markets, inflation war and fears of recessions have pushed the price down not up, it's optimism that has fueled the last bull run which seems to come to a halt, so if by a miracle the US defaults bitcoin will be the last of the world worry and for sure not something people will rush the trillions that are no longer there into.

This would be a clear example of: be careful what you wish for!

So, OP, you're question is basically how to avoid tax and not get in trouble.

You're from Greece, which means the EU, you're also not selling till $50 000 and if we start from the presumption it will be quite a bit of money I would advise you to not try even a p2p deal in cahs in Greece and this is the same for everyone else, not try it in your home nation and not in your hometown.
Get a cheap flight, arrange for a p2p deal in Croatia, Romania, Bulgaria, Hungary, or whatever as close as possible because of costs, and meet there with multiple! again, multiple traders split the sums. Or you can try finding some ATMs that still have limits for like 500E till they require KYC and visit 10 of them a day, sending each transaction from a different address so they don't red flag it.

And, be careful what you do with the cash after!


It doesn't matter how you accumulated it, the tax will be based on what you choose FIFO or weighted average and what proof you have you have bought that amount at x price.
And no, it's still capital tax gains, it will be 15%.
So if you have proof you've bought coins at $1000 and you sell at $50 000 you will pay only for how much you sell 15% of the 49k difference.


The 45% is the tax plus health tax plus pension fund plus whatever else is there, right? Not just flat income (wage) tax?

significantly...
Instead of a $50 500GB a $150 2TB SSD that would be full in 8 years, 16GB of RAM you can buy at $50
Common, the increase would have been significant in 2009, not now!
And let's remember that automatically increasing block size won't mean we will have 4 times as many transactions instantly.

Now, the problem of security.
Bitcoins security is simple, if you reward miners enough you will have enough hashrate protection, valued at how much you pay for it, 100 Exahash or 100 Pethash are meaningless if you won't look at how easy it would be for an attacker to get ahold of that, back in 2013 a single S19 could have attacked the network, but there wasn't one available at that time for 2000$ 

So at any point, you would need to look at how much it would cost someone to attack it and at every single point this will be related to the reward, so the thing is that in order to keep the same level of protection the users would have to come up with the fees themselves. Right now, we have $21,621,853.65 in income in the last 24 hours and 821,913 active addresses, I choose active addresses because it's better than looking at the number of transactions, so that's 26$ per address used to keep the same level of protection without reward.
Would it work if the reward halves two times and the price is still at 20k? I would say no!