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I actually found out that networks such as Stacks are actually considered to be "anchored chains".
Veriblock is under the same kind of category.
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I don't think we need more fake decentralized projects like we have now with bunch of altcoins, and moving that shit to bitcoin ecosystem makes no sense to me. Sidechain and other layers for Bitcoin might be a good idea that could in theory kill the need for using any other coins, and using them for privacy and scalability would be a great use case. Jameson Lopp has a nice list of resources for this on his website: https://www.lopp.net/bitcoin-information/other-layers.htmlTHANK YOU for that link, that is something I have been looking for all week. I believe there are many industries that value many of the functionalities that other smart contract platforms have to offer. I think if sidechains are able to bring that kind of functionality to bitcoin it means all the better. I believe people will understand the risks and still take comfort in the fact this is built alongside a secure asset like bitcoin. I do believe privacy will be the main driver, however. People want ways to privately use their bitcoin. |
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Freezing the account is one thing, but do exchanges really confiscate the money? I haven't used mixers, but my understanding is that if there's something an exchange doesn't like, it usually asks for some additional information to be submitted (KYC of some sort). Can they really just take the money because their algorithms flag something as suspicious? I don't mean whether they are able to do that because of course they are. I'm asking if reputable exchanges actually do that in practice, rather than temporarily freeze the money and ask for some documents.
From what I understand, exchanges will freeze the account, stopping it from making any further exchanges. Followed by them asking you to withdraw your balance. Essentially saying you are not welcome here anymore. I personally haven't come across any verifiable accounts of people getting funds confiscated. I hope I don't have to find out for myself one day. |
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The majority opinion of Bitcoin "maximalists" are that these services provided by smart contract platforms are unnecessary, and that have so much centralized point of failures that you might as well just use centralized platforms.
I somewhat don't totally share the same view with this despite me understanding why they think this, so you'd have to wait for them to respond.
This makes sense. However, if these services were running on top of (or alongside) bitcoin, would they still have the same 'centralized points of failure'? I believe this is what you asked in your original response if I'm not mistaken. I hope someone is able to shed some light on that point. |
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Finally. Surprised I haven't seen conversations about sidechains like Stacks and Sovryn(or maybe I just missed them).
A lot of people think that these sort of "smart contracts" are a fad and are totally unnecessary. Correct me if I'm wrong, but should people not care because these sidechains doesn't affect the decentralization and security of the main-chain anyway? If anything, these sidechains can bring more usage to Bitcoin, increasing miner revenue due to tx fees accrued from bridging back and forth. Shouldn't this be a net-positive for Bitcoin despite opinions on smart contracts?
It does seem like an overall positive for bitcoin for sure. However, I am struggling with how smart contracts may be a fad. The functionality and the use cases are far too strong for them to just disappear as if they never existed. Aren't smart contracts intended to make bitcoin "smarter"? From what I understand, you are able to program smart contracts to do some pretty incredible things. Especially in the eyes of the institutions. |
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I'm not sure that investing at ATH is 'playing safe'. It's just a FOMO train, and I don't think Bitcoin can keep going without ever crashing. Once it does, these newcomers that poured so much money at such a high price point will be very disappointed and probably lose a lot because of engaging in panic selling and not willing to wait for what can be years before the next bull market. Maybe he invested a while ago, and then it's a different story, but buying when the price is at its highest is never safe. I hope Bitcoin doesn't crash, and they (people like Tim Cook) don't start talking trash and lobbying anti-crypto legislation because of the bad timing of the investment.
I am very confident that Tim Cook did not buy at an all-time high. Guys like this buy bitcoin in the dark to avoid stirring up issues with their counterparties. I would not be surprised at all that he has been holding for quite some time. Maybe not sub 1k lengths, but enough to be confident in an investment. |
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The key thing to bear in mind is that everything that Chainanalysis says about transactions occurring is mostly based on their subjective interpretations and arbitrary assumptions, which means it often doesn't have a connection to reality, let alone legal validity. To be certain beyond reasonable doubt that a particular transaction is indeed coming from a mixer, they need to be involved in a mixing process directly, be a part of that transaction. The other transactions in which the blockchain analyst is not a direct participant cannot be viewed as illegal or coming from a particular service.
This is exactly how I would view it. For an exchange to confiscate your funds, there would have to be undeniable evidence for them to freeze them. As you said, unless you were a part of the transaction you would have no way of knowing this. This makes me wonder what analysis tools they use to obtain this proof. I find the case about Binance freezing funds used in a Wasabi Wallet to be extremely bizzare. How were they able to know that this transaction took place on their platform. |
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In my experience, anyone who has taken the time to learn the technical beauty of bitcoin has immediately fallen in love with it.
When you understand what it's made of, and what it aims to do, it's almost impossible to not be in love with this network. I am hoping that as time goes on, we avoid any conflicts involving protocol changes. While this problem is inevitable, I hope all changes aim to keep bitcoin as secure and integral as it has been.
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I tried to post this on the "Serious Discussion" board, as it doesn't necessarily pertains to Bitcoin, but couldn't do it. Sorry.  So, as I stated before, I've been doing a lot of research, while getting ready to start investing. Not surprisingly, I learned that there are a lot of criminals preying on crypto investors. Now, money is (courtesy of, among other things, the damn pandemic), very tight. I've been looking at ways that may be within my means (or lack thereof) to make my investments as secure as possible. So far, I'm looking at using 3 operating systems (Fedora Linux for my main activity online, most likely with Tor, Windows 8.1 inside a virtual machine for information and monitoring purposes only, and Tails with Tor for coin cold storage). My question would be, initially, about VPN's. Would using Tor over a VPN be a good idea for crypto trading? I understand (to a point) the advantages of such a setup, but would it provide any real advantages in this case? Is it worth the extra expense? I know Linux is generally (not 100%) immune to malware, but I'm particularly worried about phishing and keyloggers. In the meantime, I have installed ClamAV already, and I'm keeping as secure as I can. Am I overthinking it? Using a VPN with tor is generally only recommended if you can configure it properly. If not, you are likely not doing yourself any favors. Tails w/Tor for cold storage is a must though. |
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You may want to look into some bitcoin sidechains that support smart contracts and NFTs. That would be a good place to start.
The Stacks Network allows you to do this using the bitcoin network, but I do not believe you can buy or sell on their marketplace yet.
There are many projects though that act as a sidechain to bitcoin where you are able to utilize smart contracts to their max potential.
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People have been warning PoW was a technical dead end due to energy waste since 2013.
The Eventual PoW mining ban by every country of the earth is a foregone conclusion.
That is the phase we are entering now.
The bitcoin cults nutjobs will just scream fud like when China banned it.
But China still banned it.
Ethereum is switching to Proof of Stake, to solve their PoW problem.
China didn't ban bitcoin because of environmental concerns. They take poor care of their environment as it is. They banned it because they fear open networks such as bitcoin. They do not like having ANYTHING that cannot be censored one way or the other. POW is not a bug in bitcoin, but one of its most important features. Don't get it twisted. |
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I could be wrong because I've never heard of it until just now, but it sounds like an altcoin that leverages Bitcoin's blockchain to enhance its own security. Other coins have done it before. Veriblock comes to mind.
Don't we want projects like these? Projects that bring more demand to the underlying asset? (Bitcoin) I feel like we should love seeing these. Educate me if not. |
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So Liquid and RSK are both sidechains to Bitcoin.
Is the Stacks Network considered to be a sidechain to bitcoin? I can't find them using the term sidechain on their webpage nor anywhere else.
I am trying to find the proper term to describe Stacks to my colleagues.
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Adam Back is Satoshi. I plan on doing a write-up about this.
I hate to post something like this without all the evidence, but Satoshi actually wasn't that good at keeping his identity a secret.
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A lot of people here a pretty hesitant to click random links. You should just paste the write up directly on here! |
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You wouldn't be here if you had 22 BTC.  You'd be off buying Yachts and Mansions and Bugatis etc. You do understand 22 btc is just a little over a million usd. Not sure you could buy all that with 22 btc. |
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I’ve never used a mixer before & judging by some of the comments here I don’t think I ever will. Imagine getting your Coinbase account closed because of using a mixer, screw that. Would they confiscate the funds too or just close your account once you had withdrawn your available balance?
Well if you enjoy your privacy while using btc you may reconsider. There are mixing services that would not raise the same flags as others. ChipMixer for example. Either way, there are a number of protocols outside of mixing to increase anonymity. |
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Since Bitcoin is controlled by supply and demand, I don't think increase inflation will result to the increase in the Bitcoin price. On the contrary, It should be the other way round because people will general be weary of the new increase in the price of living and may be forced to sell of their Bitcoin saving just to meet up with the cost of living. When that happens, the price of bitcoin may likely trend downward in the coming 2-6 month.
The idea of rich people panicking is a fallacy. Money stops nonsense, and rich people knows how do diversify in time of increased volatility.
But if the value of USD is falling because of inflation this does give rise to price. Nonetheless, S&D are the main drivers. |
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What's hysterical about it is that there is a literal mountain of evidence that points to him being not satoshi.
I am curious if his followers have ever taken a look at 2 items off that list. It has been debunked over and over and over again that he is not satoshi.
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