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2461  Bitcoin / Bitcoin Discussion / Re: An Example of Not your Keys Not your coins on: January 06, 2023, 02:29:38 PM
Look what happen with celsius. When the Celsius users reach the court to demand their bitcoin back, the judge told that people have already given their legal right on their bitcoins and no one can claim any bitcoin from Celsius.

No, it doesn't mean this!
https://cases.stretto.com/public/x191/11749/PLEADINGS/1174901042380000000067.pdf

Quote
If the cryptocurrency assets in the Earn Accounts are owned by the Debtors, the Account Holders are unsecured creditors and their recovery depends on the distributions to unsecured creditors under a confirmed chapter 11 plan, or under the Bankruptcy Code’s priority rules in the event of liquidation. A fundamental principle of the Bankruptcy Code is equality of distribution. There simply will not be enough value available to repay all Account Holders in full. If only some Account Holders prevail with their arguments that they own the cryptocurrency assets in their accounts, they hope to recover 100% of their claims, while most of the Account Holders are
left as unsecured creditors and may recover only a small percentage of their claims
~snip
Further, even if the Court found that Account Holders loaned digital assets to Celsius Account Holders would still be unsecured creditors. It is blackletter law that a loan of money or property to another creates a debtor-creditor relationship. In re Masterwear Corp., 229 B.R. 301, 310 (Bankr. S.D.N.Y. 1999) (“Under New York law, a bank and its depositor stand in a debtor creditor relationship that is contractual in nature. The bank owns the deposit, the depositor has a claim to payment against the bank, and the bank has a corresponding obligation to pay its depositor

It doesn't mean that the court said all the coins belong to Celsius, it has only rules that the people who deposit their coins there are unsecured creditors, so per bankruptcy laws, they still have the right to claim those coins and be reimbursed as long as enough funds are available.

The ruling changes little because there aren't enough funds to reimburse everyone so even if they would want to claim back their coins it wouldn't be possible, and each user will have to forfeit a part of this and accept a loss, the same thing that will happen once the bankruptcy procedure is over, or how it happened in MtGxo case.

The problem is that we don't have a choice. Anyone who read the term and conditions of any exchange will have to "agree" with it, before proceeding for account creation. If you do not agree with them, then they won't let you use their platform.Since we do not have decentralized platforms and we see others using the same platform, we have no choice but to accept the terms and conditions and hope the exchange / platform will run in good faith.

Has anyone put a gun to your head and told you to deposit your coins there to earn 16% APY?
2462  Bitcoin / Mining / Re: [FUN]Heatbit Is the First Space Heater That Mines Bitcoin on: January 06, 2023, 02:09:36 PM
If you want to play with a cool new toy for a while or just aesthetics, yeah, go for it!
If you look from the $ perspective, it makes no sense.

Option 1
-You spend $1200 on the bitcoin heater, at 14th it will generate 85 cents a day and 25$ a month if you're going to run it full 24/7, assuming 6 months of continuous heating needs (which is not really needed except if you live up north, like really north and in the mountains)  you're going to earn 150$ in Bitcoins each year
Option 2
- You spend 150$ on this heater 1400W heater, note that  I haven't picked the cheapest one, that will generate the same heat, and you use the remaining 1050$ to buy coins, now!

Since obviously, you can't increase your profits from mining without BTC going really up and thus increasing also the $1050 equivalent in BTC you've got this angle covered. The other way would be for the difficulty going down, but I don't see that coming, and not by a percentage to offset the above by much!
2463  Bitcoin / Mining / Re: Is America the best option? on: January 06, 2023, 01:49:41 PM
Electricity is expensive in Germany now and a hashrate of 4.48% is a lot.

That is taken from Cambridge's study:
https://ccaf.io/cbeci/mining_map
and they have a note added for Germany and Ireland

Quote
* To our knowledge, there is little evidence of large mining operations in Germany or Ireland that would justify these figures. Their share is likely significantly inflated due to redirected IP addresses via the use of VPN or proxy services.

It's highly probable that they don't have even 0.4% combined, Spain which has no need for VPNs and has cheaper electricity is quoted at 0.02%, so a 0.0something is more likely.I would expect the loss of 3 exahash for Russia in the last months to be also influenced by this as lately when I'm letting my VPN randomly select IPs I instantly know when it has switched to a Russian one as it's one website blocked after another.
2464  Bitcoin / Bitcoin Discussion / Re: Bitcoin And also Bitcointalk s Given Me and Many Others A Full Source Of Income on: January 05, 2023, 05:51:27 PM
OP, you already have a topic you opened last month:
I became Independent Because of Cryptocurrency
that was still getting posted a few days ago, so why open one that is almost identical? Fishing for something?

Also, what's the point of hiding your email in settings when you show it to everyone in your screenshots?
You know you're going to get a ton of phishing emails now, especially since you keep posting both the email and exchange you use!
You really need to learn more about keeping things private before you experience the disadvantages of not doing so!
2465  Bitcoin / Bitcoin Discussion / Re: Argentina's Leading Presidential Candidate Preaches Bitcoin on: January 05, 2023, 05:40:14 PM
I remember that over the years I have read so many positive news when it comes to politicians from Argentina and when it comes to Bitcoin, but I have not noticed that anything has changed until today. It remains to be seen whether the current presidential candidate is serious about what he is saying or just a populist looking for additional votes, but somehow it doesn't seem to me that Milei can get away with his radical ideas.

He will not because all those ideas are probably just thrown around to get him elected, just like make America great again and drain the swamp chants.
He is the same kind of politician, be it far left or far right that uses subjects that are appealing to voters, abortion, fighting against the system, climate, and then in 8 years just like the other guy you mentioned you will see he has done nothing but talk.
And sometimes, he talks a bit too much:
https://www.infobae.com/teleshow/paso-en-la-tv/2018/06/24/javier-milei-experto-en-economia-trios-sexuales-y-sexo-tantrico-puedo-estar-sin-eyacular-tres-meses/

So one should take his new love for bitcoin with a serious bag of salt.
2466  Bitcoin / Bitcoin Discussion / Re: Ukrainian pharmacy chain introduces cryptocurrency payments on: January 05, 2023, 04:26:49 PM
Funnily enough, a DeFi project on the Terra network named Anchor(with ticker ANC) pumped near the time that Binance's CZ posted this tweet: https://twitter.com/cz_binance/status/1610292474714656770
Probably just a coincidence, but LOL.

No, not a coincidence, some users started using #AMC, bots detected the term and that good things were associated with it so orders started flowing, by the time some misled users tried to buy in already there was a price movement so they just added a little more fire to the hype of FOMO or whatever.
Bots that monitor social platforms or news headlines have been around for a while, so not surprising.

But what's more worrying is that it's a coin that nearly got wiped out when Luna crashed and even the team behind it has gone silent since June last year  Cheesy, so some bought the shitcoin fo shitcoins based on a failed (terra) network.
I just hope that Apple launching some device called iFan won't trigger some buys in one of the largest scams ever.


2467  Bitcoin / Bitcoin Discussion / Re: Ukrainian pharmacy chain introduces cryptocurrency payments on: January 05, 2023, 03:18:36 PM
Quote
To take advantage of the service, customers will have to download and install the Binance app, go to the ANC website, place an order and cover the bill using Binance Pay. Then they can receive the products or pick them up at any of the chain’s stores.

It's also quite expected, I don't think a company in a war zone would be able alone to deal with direct crypto payments, so thinking of paying directly with bitcoin is probably daydreaming, but still, it's Binance, and I have a feeling they will again put their fake bitcoin and stable coins on top of the bitcoin payment option.
Also, from the press release:

Quote
According to Khomyakov, crypto payments via services like Binance Card do not conflict with Ukrainian laws because there is no ban on crypto-derived transactions in Ukraine. At the same time, local laws do not allow direct payments in cryptocurrencies like Bitcoin.

This needs to change but probably Ukraine has 1 million more important things to do right now.
2468  Bitcoin / Mining speculation / Re: 2023 Diff thread now opened. on: January 05, 2023, 03:05:42 PM
Don't be mad, just try to enjoy your time, there will always be another chance to get back to mining full blast.

Not mad at all, honestly, I am glad the thing with the power spike rise happened (if we talk only about mining), I was actually looking for some sort of excuse to get out,  I started it because I wasn't doing anything bitcoin related at all and I felt like I was missing something and I had a ton off free time, mostly because the stay at home/work from home stuff, but things have changed.

I could have survived even the price change, I could have gone for some government solar plans that would have offset the balance and as my family business is power-hungry and I would have qualified for a ton of those, but it was becoming exhausting. The first clean-up with 3 machines was nice I was curious, I was intrigued, when they were 6 and the exploring was done it looked more like the bad part of the hobby, and when my cousin added the last 4, it was just working, tiresome work each of us was trying to pass to the other. It's a nice change from a desk job to install fans, draw a scheme to set them up, do a bit of DIY fixing the walls and the floor, inspecting cables like you're a bomb squad  Cheesy,  checking all kind data on my smartphone but after almost two years..nope, the magic is gone! Not to mention the ~100km drive! A few more days of 1% stress till I get some feedback from the guy I sold to have some peace of mind that none got damaged during the drip or played possum at start and, peace!!!!

That's why I admire you both, cause you can still do this and manage it every day and still think of expansion, I probably wouldn't be able to do it even in a far better market, actually, no, not probably, for sure I wouldn't have managed at all.

Quote
Latest Block:   770497  (18 minutes ago)
Current Pace:   108.8493%  (386 / 354.62 expected, 31.38 ahead)

It's not 23% anymore but still added around 8 blocks per day ahead, so a 5% pace increase to the previous, so it will not only recoup the last period but add at around 2% on top, of course, if things don't change.

Also, you're not the only ones expanding, just got an email update from marathon releasing their numbers:  Grin

Quote
As of January 1, operating mining fleet consisted of approximately 69,000 active miners, capable of producing approximately 7.0 EH/s
2.1 EH/s is currently pending energization after 1,000 S19 XPs were installed in December
Depending on Applied Digital’s energization timeline, the Company expects to have between 12.0 EH/s and 15.0 EH/s online by March 31, 2023

So an extra 8 exahash by march, another 3% from them alone.

2469  Economy / Economics / Re: Will central banks ultimately fail in their goal of lowering down inflation? on: January 05, 2023, 02:23:05 PM
So, nobody is looking at the current numbers and the trend and commenting on how the government will fail and inflation will rampage for decades destroying the entire civilization in its path?

Some good news for every normal person, and some very bad news for every doom and gloom worshiper:
German inflation drops more than expected to 9.6%
Quote
Consumer price inflation dropped to 9.6 per cent in the year to December, well down on the 11.3 per cent registered the previous month, after Berlin implemented measures to shield consumers from high gas prices.The figure, published by the country’s federal statistical agency on Tuesday, was also lower than the 10.7 per cent forecast by economists polled by Reuters.


Surprise French inflation drop adds to signs Europe prices are cooling
PARIS, Jan 4 (Reuters) - Inflation in France unexpectedly dropped well below 7% in December from a record high a month earlier, data showed on Wednesday, the latest sign that slowing energy price rises are helping Europe overcome the worst of the inflation crisis.

Spain's 12-month inflation slows down again in December to 5.8%
Quote
Dec 30 (Reuters) - Spanish consumer prices rose 5.8% in December - at their slowest annual pace this year, thanks to lower electricity prices compared to a year ago, flash data from the National Statistics Institute (INE) showed on Friday

Of course, that's not happening in every country, in some, it just breaks record after record
Iran's Inflation Rate Topped 48% in December
but we're not talking about countries that were economical failures even before the war or covid!

I just wonder how much hate this good news will receive!
2470  Economy / Economics / Re: [Article] Good job, internet: You bullied NFTs out of mainstream games on: January 05, 2023, 01:55:11 PM
Nft's can't really be copied but those who try to are just imitations or fake and can be easily spotted and reported.

But you can make another one that just resembles it, and start selling the hype.
Because kitties or apes, monkeys or stones, they had no intrinsic value at the start other than hype, it's not like you hand one to some guy and tell him this is the only copy of the Michelangelo's David, and nobody will be able to sell a different one with the other arm raised up or one that is more yellowish or anything else.

NFTs have this problem, the public doesn't care about this being the first monkey smoking a cigar NFT nor does it care that two days later there are 1000 collections of nearly the same monkey smoking pot, it's just a fad because everything can be replicated with another fad!

After all, some people put their whole time of their lives in videogames, sometimes taking years until reaching determined achievements and being able to acquire some valuable items in-game. Nothing fairest than letting these people make real income from it.

They can do it right now without altering the game at all, without any kind of NFTs, and second, the have the cake and eat it and sell it stuff doesn't work, the money that this guy is getting paid has to come from somebody, and the moment the balance is broken a more ask for a payment, well....you end like Axies!
2471  Economy / Economics / Re: [Article] Good job, internet: You bullied NFTs out of mainstream games on: January 04, 2023, 08:14:44 PM
My opinion is that everything started to go downhill when the concept of "Play-to-earn" became popular.

Everything went downhill when everyone realized that "Play-to-earn" was actually "Pay-to play-to earn" as you had to purchase some jpg or animated monsters or virtual land to play in the first place, then try to play a shitty game and earn stuff but only, and this is the funny parts, someone else would be willing to pay for it!
So when the scammers , my bad, game developers ran out of morons, again sorry gamers, the whole charade was over, as there wasn't actually anyone interested in playing the game for the game itself and of course not paying for that each month to keep the MLM going.

Quote
Beneath the common complaints that they're environmentally costly and more or less stupid, I think NFTs inspire so much repulsion on social media because they seem to corrupt something that people actually do want.
~
Most of the time I think it's just a fad, but now and then I'll come across the preaching of some passionate Web3 believer and start to wonder if I'm losing it. Do I want to make money by playing videogames?

Yeah, we want to play a game, we don't want to work, we don't want the games to turn into a fashion show where owning some item is more important than playing the game, and we don't a game that will become unplayable because people are no longer paying to earn and the game developer is going bankrupt! That's why there is so much hate for all these games where money is more important than the game, pay to win, pay to play, play to earn, the same crap with the same core.
2472  Economy / Economics / Re: Bitcoin Banking is more reliable and faster on: January 04, 2023, 07:56:59 PM
the only problem that may occur is if the wallet is not correct another challenge is if the transaction is been encountered with down network but this is in rare cases.

OP, it's probably that English is not your native or the second language either or you don't really know what you're talking about, and these lead to cases like the statement above which are just going to confuse people and more importantly, are completely wrong.
The bitcoin network was never down!
Of course the second thing about this happening in rare cases is also wrong but the most important thing is that the network is never down, there might be congestion issues, and your tx will take longer to get confirmed but at no point, has there been a situation when you sent a tx and there was no node to receive it and no miner to mine a block.

They must not be compared because they are structurally different. If you send money to an incorrect account by mistake - you may get it back in the centralized banking system, but in bitcoin, there's no way! Every system has its pros and cons, let's respect that and choose what's convenient for you!

But some will never stop comparing them, and what's more frustrating doing so while taking only the good parts of one and comparing it to the negative of the other and declaring a straight winner, for a merchant this is perfect, every sale is final, for a customer, not so much!
If we could have built a perfect system we would all be using it by now, but there isn't one, and probably will never be!
2473  Economy / Speculation / Re: Will 2023 be another up year for Bitcoin? on: January 03, 2023, 11:37:35 PM
Does 'UP' mean finishing the year at a higher price than at the beginning or does it mean having more uptrends during the year over downtrends? I'll assume it means the forner as it's much easier to calculate, but the pic doesn't give much information.

Do you know what's funny?
That despite Bitcoin having two downs and 3 ups since 2017, 5 years ago the price was $15,201, so, up down up down and we're back in a 5% range.
If it goes up by 2k every year and then goes down by 20, all those thumbs up mean nothing.
But then again, it must go up at least by a few couples of thousands, another bearish year is just too much, things start looking better even for global economies, the doom and gloom news is on its last legs running out of steam, so probably we're going to have a crypto spring too.
2474  Economy / Economics / Re: The Taste of an Economic Downturn on: January 03, 2023, 11:22:09 PM
I had to google reasons for Croatia and Philippines being on the top and got more accurate results. Unsurprisingly it's inflation. (on those countries it seems to be especially bad)

It would have saved you a headache to look at a chain store in Croatia and question the numbers in that table than search for reasons for made-up numbers,
https://www.konzum.hr/web/products/luk-ljubicasti
The price is 1.19 €/kg and I don't know where the guy who made the table got his numbers from, you can't have prices six times bigger in a country with open borders compared to its neighbor, unless you're Monaco  Wink
Seriously, Slovenia 0.73€,  Croatia, 6.32€ ?

Anyhow, Lucius has posted here, so if he returns he might clear another mystery or myth of the magical red onions that somehow have become the center of the universe!

LE
My bet is on the exchange rate change, 6.39 kuna is around €0.83 so that would be far closer to actual prices and since Croatia switched to euros it messed up the whole table.



2475  Economy / Service Announcements / Re: Fryx Finance - An open-source Monero/Bitcoin exchange with %0 trading fees. on: January 03, 2023, 11:05:36 PM
I don't see an exchange rate on your website. How would you determine how much 1 BTC is worth, or how will the user knows if their order will go through or not if the exchange rate, open order/order history etc is not visible?

I think that OP is looking more for the integration of their code rather than actual exchange on the website, so if this would be the case everyone would be free to set up their own exchange rate and fees as they see fit. Anyhow, the owner should really focus on providing some additional info, you already have 3 topics about the same thing spread all over the board, focus on one.

The description is also confusing, so I went for the buy monero option, got an error and redirect to
https://fryx.finance/auto/None
I went for the second option, which was labeled sell monero but after typing the trow addresses I was instructed to send Bitcoins...
Also, once you sued an address it seems the system doesn't accept it anymore till the order is completed so if you do it for testing, then you can't do it for real!






2476  Economy / Economics / Re: Vietnam GDP grows 8.02% in 2022; fastest expansion in 25 years on: January 03, 2023, 10:50:01 PM
That is quite the accomplishment considering other major powers of the world brag if they manage to achieve 1% economic growth.

There was a joke about some country back in the days, not going to name it to not trigger some guys here, it went like this:
- You know the GDP of x tripled last year?
- How did they manage?
- Their cow had two calves!

Vietnam's GDP was 362,6, 8% of that means nearly 30 billion, if we take for example Germany, it will take the German economic growth of only 0.6% to match that, for the US it will be enough a 0.12! Percentages are misleading sometimes, well, most of the time.

Just think of it like Bitcoin, how easy was it back in 2009 to double your stash? How does this work now?  Wink

It seems that Vietnam was ready for the shop, as we did not hear many problems for them, and the transfer of some major companies for industries outside China has benefited from it Vietnam significantly and with good relations with the United States, we will witness steady growth for the coming years even with the shadow of contraction.

And people were saying carriers were obsolete:
Theodore Roosevelt Strike Group Arrives in Vietnam to Commemorate 25 Years of Diplomatic Relations

They still do wonders!
2477  Bitcoin / Mining speculation / Re: 2023 Diff thread now opened. on: January 03, 2023, 03:22:59 PM
Not sure how making truck loads of money in 2020 and 2021 was called bad.

I was speaking in general, as there is more than bitcoin and mining, you start forgetting about gains when you don't have two consecutive weeks when you're not invited to a funeral, and if we look at the price, if you didn't sell, what's the difference from peak 2017 to early 2023? Furthermore, 2020 was nearly as bad as 2022 or even worse for mining too, 2021 was better than the others but 2020, no, that year I'm absolutely fine if it gets erased from my memory!
We can have price growth and obviously increase revenue in mining without covid, inflation, war, and all that stuff, actually, I'm almost sure that once all these are over we will see far better times than previously in all kinds of BTC related revenues.


2478  Bitcoin / Mining speculation / Re: 2023 Diff thread now opened. on: January 03, 2023, 02:59:40 PM
WOW, 2022 is over, hopefully, we won't miss it.

If we're going to miss 2022 then hopefully it will be looking at the price as a wasted buying opportunity and nothing else, 2020 was bad, 2021 was bad, and 2022 was worse, it's time to be optimistic about 2023 as it can't be worse, common, what's going to happen to make it like that !!??

I'm down to two miners, which were supposed to act as backup heaters too but, again, it's 16 degrees here in the middle of winter!!!!!!, the rest are already packed and I've already booked a pick-up for the courier as to the sunny coast of Andalusia they will go in their adventure, so this will be a relaxing year, just watching the difficulty and price, reading the news at a cup of coffee at a hard-earned break.
I'm actually so relaxed that I can finally look at this:

Quote
Latest Block:   770193  (a few seconds ago)
Current Pace:   123.5626%  (82 / 66.36 expected, 15.64 ahead)
Previous Retarget:   Today at 5:49 AM  (-3.5926%)

and just have another sip! Mmm, fudge!!!!   Cheesy

Core is getting another $17M Loan,  Argo just sold a data center for $65m and grabbed another backed by miners loan of  $35 million, these guys will simply not run out of loaners and cash.




2479  Economy / Service Discussion / Re: Bitcoin debit card, no kyc on: January 03, 2023, 02:22:32 PM

Quote
With the @v4vapp, we can use HIVE or HBD to pay Bitcoin Lightning invoices, which is what The Bitcoin Company generates for payments. Thus, we are able to spend HIVE or HBD on gift cards through the website.

So that article is more about how you want to spend some shitcoin than anything else.

Re-read the statement you are quoting, why would you bother with hive if you have lightning Bitcoin in first place? you can pay it directly via your lightning wallet.

Exactly my point!
Why bother with the hive, then why bother making an article about it, then why bother posting this article as it's basically an ordered article for shilling a dead shitcoin? When the article mentions hive 17 times and bitcoin 5, it's clear what it is and that was exactly my point, so at this moment, I'm quite puzzled what's your point here and why are you asking me to reread when you're basically saying the same?

after all I see there are two of them that they operate the same company logo.

thebitcoincompany.com
merch.thebitcoincompany.com

You do know what subdomains are, right? apps.apple.com is not different from apple.com!
Also, according to you, this is are negative highlights?

• This webshop offers anonymous payment methods.
• Cryptocurrency services detected, these can be high risk
• Payment methods support anonymous transactions were found
2480  Economy / Economics / Re: The Taste of an Economic Downturn on: January 02, 2023, 04:07:52 PM
There are various reasons cited. Again, there's the decision not to import. Another is hoarding and price manipulation. There's also the fact that it's holiday season, although the price has already been rising for months. As a matter of fact, just 6 months ago, a kilo is only around $2. But of all the reasons cited, none is convincing enough.

This of course shouldn't be the reason but it would be for sure the cure!

We have experienced the same price scare with sunflower oil in Europe, hoarding, people panicking and importers asking for huge prices but, immediately in a free economy the laws of offer and demand started kinking in, and rapeseed oil started to enter markets that used only sunflower, imports started to look very profitable form other countries, as soon as the profits from doing so looked juicy then hundred of tons hit the market, from 5 euros per liter it went down to 2-3, slightly above the prepandemic prices.

Now look at the differences here, even assuming I would fill a 10ton truck from a chainstore so no producer prices, I would pay 15k euros, I would spend 5000 euros on gasoline driving from Paris to Manila, rent a boat for another 5k, all the time stay in 5stars hotels, so that's about 30k euros but I could sell my cargo even at half of the price 6e/kg for 60 000euros, so that would be a net gain of 30k euros using the most ridiculous and expensive way of shipping goods!

~
I'm not sure the UK and France are good comparisons for onion prices as I'd assume they'd remain pretty stable since wild garlic is abundant in the UK (to an extent apparently a lot of people didn't eat it before the 80s because it was considered a weed).

I quoted US walmart prices, too, the max is 4$ for the best batch in Woolworths   Australia, and ~3$ in stores in Brasil when the whole world has 1/4 or 1/6 of the price something is wrong there.

I've checked some random prices in superstores in the Philippines, and there is no such difference on anything else.
This is not something triggered by inflation, this is something local done by stupid politics.




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