...In this case I think having all of Yogg's previous positive trust remain in place is a good thing...
I disagree. I think taking out the positive and putting in a negative with a comment as to why it was a positive and now a negative would be better. Same way after some people 'redeem' themselves negatives are changed to neutral. If something changes feedback can be changed again. AND there are enough inactive users who left positive trust that will stay there forever unless they come back. So it's not like there would be no positive trust left. -Dave |
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<opinion>
I don't think there is a lot that you are going to find.
Not because they are not doing it, they might be they might not be.
BUT it can give the impression of favoritism.
i.e. Coinbase is funding / supporting people working on 'X', and then it turns out 'X' happens to help Coinbase in some way.
Can you imagine the screaming that would go on that they are forcing their hands into OSS or making BTC / crpyto into their vision.
When all that happened was that they funded some people who happened to be working on something that may have helped them in some way.
So you give / support anonymously and avoid the headache.
-Dave
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Outside of what nc50lc said that unless you have more information this is probably a pointless waste since unless you are lucky, like winning the lottery lucky, finding a block with an old antminer S1 lucky it's not going to happen.
BUT if you want to do it, there is always the throw more hardware at the problem fix. More & faster cores will get you well....more. And don't forget using a GPU.
Still pointless and the odds of you getting it are insanely and pointlessly low, but you can get more speed if you want.
-Dave
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I do now, but I doubt it's widespread knowledge given that nowhere in any Lightning Node UI I've seen is channel reserve referenced, and it's completely possible to setup a node box with lightning without ever encountering the term.
True, BUT and this is an important but, if you are using real money you should have at least skimmed the documents. Not saying read and know them, but at least a brief overview. The other part is it seems MOST people who are doing it themselves do have a decent understating, there are a lot of others using wallet of satoshi or other managed ones that take care of all of that for you. So users never see it You should probably poke some of the GUI devs on github about it. -Dave |
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You make some valid points there...it would indeed be tremendous risk but I wonder how many people are aware of our hobby and the fact certain coins have a full 1 BTC loaded onto them? But then again you never knpw who is out there prowling at these events as well.
Is it any different then driving around in a $100k car? People may not know how much money you have but they know you have money. Everyone has a different acceptable level of risk that they are going to be willing to take with things. Having a coin worth that much may look crazy to us. Other people have a watch on their wrist worth more then a lot of houses. https://brilliancejewels.com/product/rm1103rg/-Dave |
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as part of on-chain balance rather than as available lightning balance
If what you are talking about are indeed channel reserves they really are neither. You cannot spend them until the channel is closed but you don't know the amount you will have until the channel is closed and the TX fee is paid. Anyone who has been working with LN or running their own LN node knows that you have to have these funds there. Slightly OT but every once in a while you see people who get some ETH token who don't have any ETH in that address so they can't spend the token. (insert any other chain that has tokens in place of ETH if you want) This is an nice and elegant solution to prevent people from winding up with funds 'stuck' in a channel. -Dave |
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That annoys the crap out of me. You are taking pre-orders and have not finalized the design.
At this point if you are selling me something with published specs I should get what you said.
I don't care if it *might* even be better. Perhaps I wanted that SE for some reason.
I think I chose the wrong set of words to portray the situation yesterday [my bad]... They might add "another" SE [from a different brand] on top of the existing ones that are present in Mk4, so it might end up having three SEs, but I also agree that they should've finalized the design first. - They also mentioned the same thing (three SEs) "is also part of the process for Mk5".I watched it after I posted but never went back and edited my post, the point that we both agree on is they are selling somthing that never mind being build or tested is still being designed. If you are a NEW company and need the funds to launch your 1st product or perhaps even your 2nd I can deal with an early pre order. For people who have been doing it this long sorry....no. I can see taking a few dollars as a hold my space in line deposit to attempt to gauge how many they need to build in the 1st run, but beyond that it's just a money grab. -Dave |
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Not 100% ideal but there are options: https://agoradesk.com/buy-bitcoin-using-cash-by-mail-with-eur-in-greeceIt's going to come down to when and how much. Thinking about it and planning NOW is probably not really going to matter. In the past few months both localbitcoins.com and LocalCryptos.com shut down. Had you asked this question 4 months ago the answer would have been somewhat easy. Now..... not so much. So thinking about what you may be able to do next month, next year and so on may not matter since the plan may no longer be available.... -Dave |
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The question is where are you. There are many people trading in Las Vegas or Miami or NYC for cash. Not so much in North Dakota. Take a look at https://kycnot.me/ for a bunch of non KYC exchnages https://agoradesk.com has the cash locally option. You also have a few other options depending on your location. You don't have to say where you are, but if you are in a more rural part of the world vs a big city your options will be more limited. -Dave |
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Got the official email from them this morning about the closing.
More or less a copy of what the web page said.
Interesting that I figured by now I would be getting emails from the other places that offer it that I have accounts with [Binance and such] mentioning that they have a service like the one that LBC offered. What is their marketing department doing?
-Dave
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They even include flashlight beside the camera, it's small neat addition for rare-case where you have poor lightning on your room. But i find it's weird they choose to give big gap between each keyboard button. 100% guess but it's probably an off the shelf part with a little bit of tweaking. I don't know the cost of having one designed and built but I am sure taking one that exists and doing a little custom lettering on a couple of the keys has to be cheaper. Last night, they mentioned in a podcast that "there's still a possibility that they might add a different brand secure element to Q1 [8:10]". That annoys the crap out of me. You are taking pre-orders and have not finalized the design. At this point if you are selling me something with published specs I should get what you said. I don't care if it *might* even be better. Perhaps I wanted that SE for some reason. -Dave |
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~
Eliminating the out and out owners taking money out of the company. If they bought a lot of BTC during the 2021 runup ATH they might have wound up selling a lot of it at a massive loss. As a person you can DCA a lot of things, as a business that is in so many states / locations they may have actually been selling $55k BTC for $30k or less. And at that point you really can't afford to buy more since you are now in a loosing situation. Wait a minute, why would they have bought and held for long term any kind of cryptos in the first place? They are just intermediaries between the exchange on which they buy and liquidate coins depending on the order received at the ATM, even assuming each of those would get more than 10k a day which is highly improbable they would still need to hold at any time more than 50 million in assets at any time, and they would keep adjusting those as the orders flow. They are just munching on fees, they don't have to stock up on anything, if they want to invest they could do that with a separate business but not throw operational funds at that. Add on some inflated salaries and too much staff and it's not that hard to get to big numbers quickly.
This one might be indeed, maybe some secret headquarter in a penthouse in the Bahamas also? Because some states DFS have very strict rules about what you have to have on hand "just in case" Usually it's 2x average daily sales. So if you sell 1 BTC a day you need to ALWAYS have at least 2 BTC in your hot wallet. It's not per machine, it's company wide so while they could keep buying on the open market as BTC fell they were always chasing losses. And if someone said lets buy a bunch at $55k before it goes even higher they could have dropped millions there and then sold it back to people at 1/2 of what they paid. Add in some odd rules that some states have, using Texas since I have it handy, does not let you count your crypto holdings as assets but you must have at least $500k in other assets From https://www.dob.texas.gov/sites/default/files/files/consumer-information/sm1037.pdf: A virtual currency business that conducts money transmission must comply with all applicable
licensing provisions of Finance Code Chapter 151 and of Title 7, Texas Administrative Code,
Chapter 33. In addition, several considerations should be highlighted. First, because a money
transmitter conducting virtual currency transactions conducts business through the Internet, the
minimum net worth requirement under Finance Code §151.307 is $500,000.6 Be advised that the
Commissioner may increase the required net worth up to a maximum of $1,000,000 based on the
factors set out in §151.307(b). Second, a license holder may not include virtual currency assets in
calculations for its permissible investments under Finance Code §151.309 And now you have money that you can't spend because it has to stay as an 'asset' Insurance, people to get the cash from the machines, other people to put the cash into the machines, it staff, security, lawyers, accountants. Have to go to the trade shows or you don't look legit. Can drop an easy $50k+ there between staffing, booth rental, hotels, flights, and so on. And a few hundred million USD is gone real quick. It's actually why a small BATM operator left the market here. Was a small shop and the runup made him a lot of money, the 2022 drop left him operating at a loss so he just packed it in and sold his locations to another provider. -Dave |
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Where did you get the wallet.dat file?
How long have you had it?
How old is the wallet.dat file?
If it's VERY old newer versions of core may not be able to open it. You would have to download older versions of it and let them update the file.
DO A LOT OF BACKUPS BEFORE DOING ANYTING.
Also, are you sure it's a wallet.dat from bitcoin and not an altcoin? 1000s of different alts all forked from BTC all use the same name wallet.dat
And again.
DO BACKUPS.
-Dave
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Adding to what BitMaxz said the can room layout accommodate some other fans to keep the air moving in the direction you want? Can you get an exhaust fan on the hot zone side that spins up when the power drops on one of the phases so you can force the air out of the room?
How long is the power out for? And you might want to play a bit with the setup. There might be a layout of the 4 x 4 that you have that even when you loose a phase the other running miners on either side are forcing enough air in the proper direction that it can't come back.
-Dave
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Oh god! This shit is going out of control, just when it seems as it stopped for a moment there you have another one going bankrupt who owes money to a company that just filed fro bankruptcy, Gemini will have to cough another 100 million to bail out Genesis again just two days after the first batch.
How, just how do you burn 500 million dollars? How the hell do you manage to waste $100k for each installed BATM?
Eliminating the out and out owners taking money out of the company. If they bought a lot of BTC during the 2021 runup ATH they might have wound up selling a lot of it at a massive loss. As a person you can DCA a lot of things, as a business that is in so many states / locations they may have actually been selling $55k BTC for $30k or less. And at that point you really can't afford to buy more since you are now in a loosing situation. I do not know what the requirements were where they were located but if some states / municipalities required 'X' holdings it could have been a really massive number. Add on some inflated salaries and too much staff and it's not that hard to get to big numbers quickly. -Dave |
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I don't like this direction at all, but people like big screens (that crack easy).
Makes you wonder if the cost and weight of a more durable screen on a device like this matters as much as on a phone. If you have a lot of funds stored on the wallet secured by it, IMO your hardware wallet should be locked in your desk / safe / wherever and pulled out when you need to move them. And you have the seed backed up securely someplace else anyway. If you have smaller amounts, then getting the screen broken is an annoyance since you do have it out and use it day to day, but the seed it still elsewhere. Does anyone make their own camera modules? There was actually a discussion here a while ago about that and vulnerabilities with them. In their defense again, secure element you are using in Passport is also not open source and it has security issues, that is why it was outdated by manufacturer  What a lot more wallets need, and other then the keystone I don't know of any, is a 'self destruct' when taken apart so you can't attack them by taking them apart and getting to the SE. BUT the other side of that is you can't take them apart to fix them either. -Dave |
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Anyone who needs a replacement for LBC can go to: https://kycnot.me/ and pick the one that works for them. I have been off LBC for a while, but as I pointed out elsewhere, a lot (most?) people who had regular trading partners know how to contact them in other ways. It's just a bit more newsworthy because it's the 2nd one in a short period of time. But, as with many things others will take it's place if they can figure out how to make a profit on it. -Dave |
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Dave's opinion. They also saturated some areas where there is a lot of competition. Take a look at their map around Las Vegas NV or Miami, FL. Dozens and dozens of machines (which is good) along with dozens of machines from their competitors (which is good for consumers but bad for them). Perhaps putting a few in some places that were less well served might have dome them some good. Quoting myself from a couple of weeks ago: ...I see there here. On LI where there are only 1 or 2 operators fees are higher then when I head to NYC where you can get better deals since there are at least 4 providers of BATMs there....
Obviously I don't have any kind of market survey information, but 5 machines making you 15% per transaction for buy or sell may be more profitable then 20 machines making you 7.5% if you are the only operator in the area. -Dave |
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I thought this was some kind of Blackberry joke first, but then I remembered it was not April 1st.
Well they are both Canadian companies. You never know the engineers might have been sharing a Molson and some Timbits and decided to swap ideas. IF and that is a big IF, the power circuit is done properly using 3 standard AAA batteries is not a big deal. Also, it still allows for USB power so even if that is bad you can still power up the device the old way too. Lets see how the final product comes out and if they still keep the open public hardware schematics like they did with the other models. -Dave |
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