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May 11, 2024, 03:19:29 AM *
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61  Bitcoin / Bitcoin Discussion / Re: Satoshi Nakamoto's last message on: April 24, 2024, 07:19:56 PM
The anonymity of satoshi adds to the mystery and uniqueness of Bitcoin. It adds an extra layer of decentralization that there isn't a location one can narrow the creator to be at. If there was the government could try and mount some pressure on him, invite him for questioning in relation to some bogus allegations just the rattle the network a bit. I would have loved to see him still post here from an anonymous account but we're all satoshi now.

I wonder if he will pop up with a different project under a different pseudonym. Maybe he has.
62  Other / Beginners & Help / Re: Do Miners still continue? on: April 23, 2024, 06:21:10 AM
It is believed that Bitcoin halving is an event that happens every four years
It does happen every four years or better still, every 210,000 blocks.

Since Miners rewards is being cut half during the halving, do they still continue in the number they were before the halving?
It's expected that some will drop off after the halving, but it balances out after sometime as new miners come in. Bitcoin hasrate dropped slightly after the halving.
63  Other / Beginners & Help / Re: How to properly report a post to the moderators? on: April 23, 2024, 06:12:41 AM
89% is good enough for your first 9 reports.
When reporting, I try to make the job as easy for the mods as possible so they do not waste too much time on that report. The user must have broken a rule or made an honest mistake for me to make a report, that rule is what I use as a reference;

• Consecutive post from the same user,
• Post made in the wrong board,
• Low quality post (spam) etc.

I also recommend an action sometime;

• Wrong board. A better fit in altcoin section.

I add links to my report if it will help. This I mostly do if I'm recommending a user to be nuked. I share a link to the post history so the mods can glance through the reference and decide on an action.

Try to keep your reports as concise and straight to the point as possible.
64  Economy / Reputation / Re: Resurrection of old accounts on: April 22, 2024, 07:33:01 PM
One can carry out at action on the forum even with a red tag on the account. They can freely discuss the price and share ideas with other members, the rating won't show on many major discussion boards. If they are only interested in getting into signature campaigns after years of inactivity then the account most likely have changed hands.

I believe in reevaluating tags after sometime has passed to know if it can be changed to a neutral tag or removed completely, but this should be done using a determined criteria and consistently across all active accounts
65  Economy / Trading Discussion / Re:  Fees are spiralling out of control due to halving. on: April 22, 2024, 07:24:18 PM
2024 has been the worst year in terms of fees paid on transactions. BRC-20 spam has hit the network hard over the past months with more Bitcoin users looking for ways to accelerate txs more than in previous years.

The halving caused a spike in fees due to people trying to get into the halving block, but after almost 400 transactions, that's no longer an influence, this is the reality now which everyone is hoping wears off with time. But if it doesn't, there may need to be a tweak on the network to make Bitcoin usable for regular users again.
66  Bitcoin / Bitcoin Discussion / Re: What if they centralized Bitcoin? on: April 22, 2024, 07:02:14 PM
Today, I'll offer the forum a thought experiment.

Imagine that one day, the core devs of Bitcoin would come to a consensus that:

  • Today, Bitcoin is simply an investment and value store, not a "currency" for most of its users.
  • Today, most holders of Bitcoin do so in a centralized way, e.g. with a broker or an app.
  • Bitcoin has failed its original purpose of being able to thwart government subpoenas since it is subject to chain analysis (and hence has opened the door to competitors like Monera for this niche need).
  • Bitcoin could never become a mainstream currency since it was intentionally designed to be slow and expensive.
  • With so much adoption and awareness from its popularity as an investment instrument, Bitcoin could become a mainstream worldwide currency if it were made to be fast and cheap, allowing it to be used for everyday transactions e.g. a parking meter or a cup of coffee.
  • Mainstream adoption of Bitcoin like this would probably send the price of Bitcoin into orbit.

Are these hypothetical situations or problems you have highlighted in Bitcoin? If it's the latter, let me argue some of them;

• This is true for most but it is still being used as a currency. When you factor in the number of years since it went life we are still right on track in terms of adoption.
• True and this is problematic to the network.
• False. This was never the original purpose of Bitcoin and it was never private either. Chain analysis is just a fancy word for reading an already public chain and drawing connections base of previous transactions.
• Haven't read the link yet,
• The world is not in need of a fast and cheap means of transacting, they already have a variety of option, Bitcoin will not still finish top if it becomes centralized.
• An even more volatile means of paying for a cup of coffee?

In other words, instead of a consensus algorithm among thousands of anonymous servers, Bitcoin would be backed with an architecture controlled by a single legal entity and a trusted set of servers, eliminating the need for proof-of-work and eliminating vast amounts of complexity to the system, immensely streamlining Bitcoin transactions.
In essence it will become just like any of the thousand other worthless altcoins.
67  Bitcoin / Bitcoin Discussion / Re: Not even a penny on: April 21, 2024, 08:27:31 PM
I call bullshit. If you don't remember creating or funding the address and are not the same user of the PC why were you expecting to see a balance and what make a topic when you actually don't see a balance?

In your first post you personalized the entire conversation; "my Bitcoin file", "my PC". And now you switch your story around.
68  Economy / Economics / Re: Young people are less likely to accept traditional employments in this era! on: April 21, 2024, 07:50:47 PM
Different eras require different approaches to life and work. There is a ridiculous rise in cost of living today when compared to 30 years ago.

One could survive on less pay cause they had less bills to pay, housing wasn't so expensive, inflation was not this high. Fast forward to today, more people are living from pay check to pay chek, and have to find side hustles to make up the income.
In the quest for this "hustles" people create opportunities in different fields which require less time and can be done remotely.

With the advancement in technology, more jobs will become automated to fill in the gaps.
69  Bitcoin / Bitcoin Discussion / Re: Why bitcoin transactions fees gone high and will be be increasing day by day? on: April 21, 2024, 07:29:14 PM
You've listed the top reasons for the increase in fees, fungible tokens like runes are also contributing to the high fees. A lot of people paid Hugh fees to try and squeeze into the halving block but the effect of that has worn off now.

A whale can spam the network but cannot do that sustainably to keep the tx fee high for extended periods of time.
70  Bitcoin / Bitcoin Discussion / Re: OTHER NEGATIVE EFFECTS OF THE BITCOIN HALVING EVENT on: April 20, 2024, 07:53:32 PM
This is exactly where the High fees comes in because the more users are competing for the remaining Bitcoins, that means more transactions in the Chain, we already know the law of scarcity, demand and supply.
This is incorrect in different ways;

• Firstly, over 95% of the total supply has been mined and we currently have a daily trading volume of over $25 billion in fiat value. A halving to 3.125BTC is not enough to cause an instant scarcity and lead to a run in on the network to claim the few remaining coins that are available. The halving has less and less impact on supply as the time goes.

• A drop in supply does not instantly result in a rise in demand. Changes in demand happens over extended periods of time.

• No one who is looking to accumulate more Bitcoin will pay the ridiculous amount of fees that are pushing the feerate up. There are transactions paying more in fees that is being transacted.
71  Other / Beginners & Help / Re: [Question] In Regards to using translators on local boards on: April 20, 2024, 05:23:51 PM
No one will know who translates what post to what language. How can mods moderate what they cannot check? You are free to try to understand what you wish

Commenting with a translator falls under a grey area. I've seen it done with no repercussions and I've seen users punished for it. The distinction I could make was one was using it to fill their quota for campaigns.
72  Bitcoin / Bitcoin Discussion / Re: Share your previous experience that you got after bitcoin halving. on: April 20, 2024, 05:12:47 PM
The price doesn't halve, it's the block reward that gets halved every 210,000 blocks. You're right that the price increases a period of time after the halving but there's no expectation on how long the bull run will last. No one will have been able to predict that we have an ATH before the halving.
73  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Community Manager | Telegram/Discord Moderator | Content Creator on: April 20, 2024, 04:11:32 AM
Happy halving everyoneBTC
74  Other / Beginners & Help / Re: I'm new Help me Friends on: April 20, 2024, 04:09:32 AM
If I understand you correctly, you are asking what criteria you should use in giving merits to other users; It's all down to your personal discretion.
Quality is subjective to you, so take your time to read through the forum and learn from others, whichever post impacts you the most and stands out are those you should merit. I'll advice you spend little smerits at a time as you learn to use the feature so you don't max out quickly.
75  Economy / Services / Re: Upgrade00 Community Management Service on: April 20, 2024, 04:04:27 AM
Happy halving BitcoinersBTC
76  Economy / Services / Re: [CFNP] BestChange Signature Campaign | Sr Member+ on: April 20, 2024, 04:02:23 AM
There are other possibilities which could have caused the rise in fees.
One of them is a buzz about you transaction getting included in the halving block, which prompted users to pay thousands of days/vbyte in transactions and a huge spike in incoming transactions at the time, another would be ordinals that has caused fee spikes at different times in the past. Then there's runes,m which was just launched.

Whatever the case fees at this level are unsustainable for those creating them. There has been a drop in incoming txs already and in the next hours to days the fees should normalize to pre halving levels.
77  Bitcoin / Bitcoin Discussion / Re: Happy 4th Bitcoin Halving on: April 20, 2024, 03:47:05 AM
The single most important event in the crypto space has occurred. Happy post halving experience to everyone, hodl till the value of your portfolio starts to feel the increase in demand over supply.

This is my second halving as I learnt of bitcoin just after the one that happened in 2016. Two more halvings and we'll go less than 1BTC reward.
78  Other / Beginners & Help / Re: Where best to enjoy this forum... on: April 19, 2024, 09:04:45 PM
The forum by default operates on a desktop version and not a mobile so it will be better on the former but you can easily get used to either.
The new forum software should have a mobile version, so expect that for whenever that gets released.
79  Economy / Speculation / Re: When do we really note it for Bitcoin ATH on: April 19, 2024, 06:53:09 PM
We obviously declare ATH when we no longer see the price climbing up, and this is usually on the last quarter a year after the halving.
Any price which is the all time highest price in comparison to all previous prices is an ATH at the time. You only call the prices in hindsight when we are looking at the peaks and lowest of different cycles. ATHs are called at the time they are recorded.
80  Economy / Economics / Re: Also consider your mental State of health while investing for wealths. on: April 19, 2024, 06:43:15 PM
The reality of today's world is people have to give up a huge chunk of the other aspects of their life in the pursuit of wealth most times to only break even. This is true for counties with higher and lower standards of living;

• In some countries you are burdened with thousands of dollars worth of loans before you even get your first job and have to spend the next 30-40 years paying that back while trying to stay afloat wit right sing cost of living.
• In poorer countries education, health and other amenities are cheaper but of lower standards and opportunities are very few, so you still have to work 30-40 years to make a modest living.

It is almost impossible to ask people not to chase wealth aggressively. Addictive behaviours like gambling and high risk investments should be avoided at all cost, but other aspects of daily living is enough to take a toll on one's health.
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