No need to feel bad for him and forget about being regretful of these what ifs about him holding those bitcoins by now, his contributions will be forever engraved on Bitcoin's history and if it's not because of him who else is going to make that historical purchase when Bitcoin was worthless more than a decade ago and was just a project that's no one has an idea where it's going.
Exactly. And to add, if not for people like him, who actually tried to put Bitcoin into real-life use, who knows if we would ever get to where we are now. If everyone just held from the start, Bitcoin would probably never took off the ground and the project could end up as a bunch of guys stashing millions of worthless coins that nobody has even heard about. |
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He is saying all these while he plans to add BTC and Eth wallets on twitter so this is like the classic observe what they do and not what they are saying thing.
Are the BTC/ETH wallets on twitter confirmed info or just a rumour? I haven't heard about it before, but then again, I'm a bit out of the loop in recent news.
Anyhow, as I mentioned in the first post, I don't think that what Musk said was even worth writing an article. I take it as just him saying "don't invest more than you can afford to lose" in an awkward way. |
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It is interesting that he shared his family and himself publicly while every one of us around bitcoin community love to hide under our fake identity.
It was not unusual for people to post under their real identities back then, when Bitcoin was essentially worthless. Bitcoin was a rather niche project and no one could predict it'll grow that big. There are many developers or prominent figures not hiding their identities, but I guess it make sense to keep a low profile when you hold a significant amounts of bitcoins. "Luckily" for Laszlo, he spent almost all of his holdings on those pizzas, or maybe that's just a story that he made public not to drive attention of any bad guys who could pose a threat to himself and his family. |
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I don't buy the median theory, but then I'm not a statistician, your theory sounds a bit like government speak.  I think it's the opposite, since the premium bonds are government-run, they probably want you to believe your expected return is higher than it actually is But I guess it's still better than buying lotto tickets. Anyway, I bought another Volvo a short while ago, and this one is in potential concours condition. I paid £850 fior it, and it is probably worth £4,000-£5,000. These classic cars seem to be appreciating as people turn away from electric cars. I think many are becoming aware of the environmental damage resulting from buying new cars, and the savings you make from driving reliable classics.
If it has original parts and fairly low mileage, it could be worth even more than £5k actually. But I don't think anyone would buy a car priced as a classic for everyday driving and to save money. They'd go for a cheap car that is not yet considered a classic. |
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Not entirely correct, there are some people who don't care about finance and investment because they think money isn't the top reason to achieve in this life, they're consider religion or family is more important than money. It's true everything needs money, but it doesn't mean they will not work to feed himself and his family, their' aim are only to earn enough money, not become successful in financial.
Well said. I can understand and relate to people who are temporarily money-focussed as they're aiming to achieve financial independence and be able to retire early, so they have time to focus on more meaningful things, but dedicating your life to earn money just for the sake of it is just silly. It's a cliché but the best things in life cannot be bought. i.e. if you neglect your children because you were focused on a career, you will never develop a proper bond, and no money in the world could buy back the wasted time. |
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I suppose hodling is the best option if you have BTC. About 6 years ago I withdrew some money, I consider it as a mistake, since later it rose significantly. And now there is one more reason to hodl: the chance to save money in case of dollar (or other fiat) inflation. I don't know if BTC is going to be stable during inflation, but there is such possibility.
Hodling to what end though? You need to figure out what actually are your long term aims and what are you trying to achieve from investing in crypto. Without setting clear goals, you're more likely to make rushed, emotional decisions. For some the goal could be a new car, for others - buying a house for cash, and others will aim into retiring early or just passing their stash to their children. The more realistic the goal is, the more likely it is to be achieved, but holding without any purpose bears the risk of either dying before seeing any benefits or panic-selling when things temporarily go bad. You cashed in some BTC and now consider that a mistake only because now you know that the price went up. But you didn't know it then, so if selling BTC helped you achieve some life goal, there's nothing to regret. |
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Not much of a news, but still a press hit from the main stream - Elon Musk says that perhaps buying crypto would be unwise. Elon Musk Issued A Stark Crypto Warning After $2 Trillion Bitcoin, Ethereum And Crypto Price Crashhttps://www.forbes.com/sites/digital-assets/2023/05/25/elon-musk-issued-a-stark-crypto-warning-after-2-trillion-bitcoin-ethereum-and-crypto-price-crash/Bitcoin, ethereum and the wider crypto market have suffered an almighty crash since peaking at a combined value of around $3 trillion in late 2021, wiping away $2 trillion of value (even as bitcoin braces for a 3 billion user shock).
Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and successfully navigate the bitcoin and crypto market rollercoaster
The bitcoin price, which crashed to around $16,000 per bitcoin in the aftermath of the FTX crypto exchange meltdown last year, has rebounded this year, sparking a wave of bullish bitcoin price predictions.
Now, Elon Musk, who helped fan the flames of the huge 2021 bitcoin and crypto bull run, has said he wouldn't advise "anyone to buy crypto"—despite Wall Street giant Goldman Sachs and Microsoft backing a new blockchain. |
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That's pretty hilarious. But are we sure it wasn't the kind of atm that accepts cash, and it wasn't the cash that they were really after?
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I read an article and the writer stated that the Bitcoin community has been unfair to Laszlo Hanyecz because he is recognized only as the Bitcoin pizza man. He argues that he made a more significant contribution to bitcoin than just being the first spender.
Writing a code for GPU mining (now obsolete anyway) is simply not as good of a story and doesn't capture the imagination as spending 10k BTC on pizza. And considering that the average bitcoiner (who is no longer just a nerdy, tech-savvy guy) probably cannot name more than 2-3 developers, being recognisable within such large community is nothing to be sad about. Literally no one gets famous for writing code, other than Satoshi. |
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I dont know of the bond you mentioned and this is the first time I'm hearing of it but I think it also sound great but what are the criteria for drawing the raffle and picking the winner and if its truly fair,
I think premium bonds are specific to the UK. It's an interesting concept, instead of earning a fixed interest as with the regular bonds, premium bonds do not earn interest but they enter a lottery instead. So the average expected winnings stand at a bit above 3% p.a. (not quite true for smaller investors as I posted above) but you also have a chance of winning big, with the top prize being £1 million. Great alternative for playing Lotto, as you don't spend money on the tickets, but not so great as an investment, |
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Surely the odds are the same for a £25 investment as for a £25,000 one.
You would think so but not quite. this is nicely explained in this Martn Lewis's article: https://www.moneysavingexpert.com/savings/premium-bonds/To show you why using the 'mean' average isn't a good description of what most people will win, let me use an extreme example…
Imagine I sold a million people a £1 lottery ticket, and then paid just one winner a million pounds.
I could argue, mathematically, that the average (mean) payout was £1, so on average everyone got their money back. This, of course, is bonkers.
Almost everyone wins nothing – which is the median average – as if you lined them all up and asked, the midway person would've won nowt.
So to really see average luck, you need to focus on this 'median' average returns figure. And for the rest of this guide, whenever I refer to average luck, that's what I mean. Don't forget the 3.3% is tax free as well.
So are ISAs. But I wouldn't have had the fun of checking every month to make sure that I haven't won £1,000,000.
Makes sense, but consider if the difference between a higher rate account and premium bonds is worth paying for the tiny chance of wining £1 mil. |
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I wanted to say that I'm pushing my luck, and I bought another £500 worth of bonds. Unfortunately, they won't go into the draw until July, the they won't be eligible on my birthday ( June 20th ).
Why even bother? Premium bonds yield 3.3% p.a. and there were some calculations that you'd need at least ~£10k to get that, otherwise the yield is even lower. So, unless you're into gambling, you can get better return on fixed-term saving accounts. Or, considering RPI is something around 13%, you can ironically just spend it on a long-lasting goods (clothes, canned foods etc) before their prices go further up. Probably still a better move than 3.3% bonds. |
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...Do not use a wallet that do not support RBF.
Take it past there to do not use a wallet that does not support RBF *by default* IMO that check box should be checked by default. And give a warning if it's not. Not the other way around. I screwed up the other day, and did not notice that for whatever reason RBF was not checked and set a lower fee non RBF transaction. Not a big deal since I just did a CPFP with the change. But, I tend to make BTC transactions a few times a week and would like to think that I know what I am doing. If I can screw that up, then anyone can. -Dave I wasn't that lucky, I made a low fee transaction from Mycelium wallet which does not support RBF, and since I spent entire available balance, I can't use CPFP bump. So now I had to wait for it to either be forgotten by the network or for the fees to come down. But as anyone can potentially rebroadcast any transaction and there's no guarantee the fees will come down any time soon - it could be stuck for a very long time. |
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What I have noticed is that all wallets that I know that do not support RBF only broadcast non-RBF transactions. The reason we should avoid them. But you can read about full RBF too which can make that possible in the future if most node runners and wallets support it. Looks like you're right. I imported the wallet to Electrum but can't use the RBF feature, as it wasn't supported by Mycelium where the tx was created:  So I guess waiting for it to be dropped from the mempool is now my only option. But if you dont want to wait CPFP is your last hope to speed up this transaction ask the receiver to do this if he is using Electrum.
It's not possible to do CPFP. According to transaction history of the receiving address, it probably belongs to a custodial service like an exchange. Correct. I was sending to exchange and I can't use the CPFP on Mycelium (as mentioned in the first post) as I'm getting this error: "Transaction has no utxo to form a child transaction or utxo has already been spent". |
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Thanks both, really appreciate your help.
So if I want to switch to Electrum to use the RBF feature, I do not have to wait until it gets dropped from the mempool, right? Will I be able to see the unconfirmed transaction made in Myclium and bump it via Electrum?
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You noticed the wallet is rebroadcasting the transaction?
My bad, I clicked on re-broadcast few times, but there's actually a very quick pop up error message (visible for less than a second) saying "something went wrong exchange transaction id is null". So it's possible it did not get re-broadcasted at all (not sure how to check that). Note that you can not let a transaction leave the mempool by yourself even if you are able to delete the transaction from history. But no good wallet should let you be able to do that.
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If you are unable to rebroadcast the transaction after 2 weeks, import the seed phrase on Electrum.
Thanks, I'm aware of that, Mycelium has this warning message:  So I was thinking of deleting it, waiting for another week or so till it gets forgotten and then synchronising the wallet. Or maybe I'll just wait for it to be forgotten and then delete it. Not quite sure what do they mean by synchronizing - does it just mean refreshing, or is it more complex process? ps. How do I know if the transaction has been forgotten by the network, will it just be no longer visible in block explorers etc? Does it always take 2 weeks for it to be dropped, or can it take longer? |
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Laszlo popped in on bitcointalk briefly in 2014 and share a little bit about himself. Sadly, he spent everything he mined. Someone in that thread tipped him 1 btc though, so he may still "make it" if he holds on to it. Thanks for the kind words guys. The pizza thing was a lot more popular than I thought so I made good on as many trades as I could. Other than a little bit of single digit change, I spent everything I mined. As you all know, the difficulty rises to adjust to hashing power, so eventually the mining wasn't worth it for me. GPU mining BTC in 2010!??
As far as I know I was the first to release a GPU miner. I contributed the hash meter back then too, that's what the screen shot was all about. I used to maintain the Mac OS builds but others have taken that up now. It was a fun project and I learned all about OpenCL. I can't find the thread on the forum anymore but you can find it in my web dir ( http://eclipse.heliacal.net/~solar/bitcoin/sha256.cl ). That was back in May 2010. Maybe there were other people who were doing it in private too, though. For a long time I had been looking for a reason to learn how to write a shader, and this was a great project for it. The way I looked at it, I was helping out with an open source project, and I was making pizza with my code. You guys will laugh now but I mined everything with an nvidia 9800 GTX+ on Mac OS (hackintosh, another scene I used to help out in). I ended up getting 2 AMD Radeon 5970s with the bitcoins I was mining, but at the time, the OpenCL libraries from AMD and nvidia both were really buggy and I never got it to work right on more than one GPU. The same code that would work on the nvidia on linux wouldn't work on windows and vice versa. I was trying to make a generic OpenCL miner that everyone could run on all 3 platforms, and I spent months tweaking different kernels for each GPU, but I was also working two jobs at the time and so I never finished it. I ended up just leaving bitcoin on the back burner for a few years, then it exploded and people started asking me about the pizza trades. Every time the value goes up on exchanges, people email me asking me to comment on it, but really there isn't much more to tell than what I explained here. This is the old GPU mining release I made for Mac OS, probably won't work anymore though: http://eclipse.heliacal.net/~solar/bitcoin/Bitcoin-MacOSX-Intel-svn-75-opencl-2010-05-10.dmg |
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Interesting story, but I can't understand why would you refer to it as a scam.
Well the court said it was science in the end so their opinion matters more. I would label it as a scam initially because it was unknown and hidden technology used when no other player knew or had use of this, its clearly to an advantage and most would say unfair in competitive terms. I applaud their ingenuity and invention of course but not in game terms really. I get your point, but when playing roulette, you're playing against the house, not other players. So if the player had used laser in a way that did not alter the behaviour of the wheel but (I assume) only measured the imperfections of the wheel to determine on which fields is the ball more likely to land - then I see nothing wrong with that. It's ultimately the casino's responsibility that their equipment works as it should. |
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I tried to send a transaction ~2 weeks ago or so, since there was no rush, I went with the "economic" fee, which was expected to get confirmed in around 2-3h. I send the maximum amount, so there was nothing unspent to bump up the fee (CPFP). Despite getting additional funds, I still can't bump it, when trying, I'm getting this error: "Transaction has no utxo to form a child transaction or utxo has already been spent". I rebroadcasted it a few times, just in case, but no luck so far. Transaction details: 4e7d9250a5571008fc385fef67c3e6cef7d8adc8d6d171de0133eaff564779b2What are my options now? Does Mycelium auto-rebroadcast unconfirmed transactions? If I delete the transaction from the wallet and it gets forgotten by the network - the message says I'd need to synchronize the wallet, how do I do that exactly? Or is it just easier to use a paid-for miners tx bumping service? |
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title says it all
If you're older than 16 y.o. and still believe that direct democracy will solve all the problems - there's no hope for you. Voting on every issue would require every citizen to be an expert on every single matter that is put up for voting, which is simply impossible. And that's not to mention that the majority of the population is simply incapable of comprehending complex issues or consequences of changes (the average IQ in developed countries stands at around 100). |
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