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1281  Economy / Speculation / Re: Bitcoin DOWN daily whats the real reason ? on: April 03, 2018, 04:17:31 PM
Please get some perspective, threads like this are the ones creating actual FUD.

Just look at the price:



In Bitcoin, all that matters is hitting higher than previous bottoms, this is called progress. The last bottom was $5900, early February. Time flies, and it looks like most people haven't realized we haven't gone under that price now for 2 months. The more time we pass above that price the more consolidated it gets as the final bottom, investors know this, which is why FOMO could kick in at any moment, and again, the more days we get above that previous bottom the higher percentages of FOMO being triggered on those waiting on the sidelines.

Forget about the extreme volatility, in Bitcoin that's just anecdotal and expected, at least until we are worth several trillion dollars so the market is naturally less volatile, and we need several trillion dollars to reach natural stability in a global, 24/7 open free market, until then just advantage of the big dips to accumula
1282  Economy / Speculation / Re: 10.000 bitcoins moved from gox wallet ready to short BTC on: April 03, 2018, 03:10:52 PM
Still no clear evidence that coins being moved from that address means coins being sold in the market. They could be moved to someone's address for OTC trading or any other reason. I think what caused the transactions with the crashes was people speculating around it and reacting negatively around it. Just stop fucking panic selling every time that account moves funds and we will be ok.

There's also money going in that address for some reason that no one has explained yet. We don't know what's going on and dumping your coins because they moved them somewhere it's as much of a risk as holding, so just hodl.
1283  Economy / Speculation / Re: What’s the % of BTC owners and users in the world? - Here’s my take on it! on: April 03, 2018, 02:52:17 PM

What most people don't get is that we don't even need mass adoption to get the price up x10, we just need the individuals with high net worth to diversify their portfolios into Bitcoin.

Most money in the world is controlled by few individuals.. so why the hell people want "mass adoption"? average joes putting their small savings into Bitcoin will do nothing, we need the big pockets to diversify their stupid stocks and bonds into Bitcoin and eventually this will happen, but people are too focused on how we need to pay coffee with Bitcoin to "go to the moon" which is nonsense.

I do not agree with you,and I think even Satoshi Nakamoto would not agree with you.He did not invent BTC&blockchain for a few wealthy individuals,but just the opposite.If a few rich individuals invest money in BTC and with time buy all available coins, what would be the purpose of all this?Most of holders will sell coins for fiat,and then those individuals would use BTC for what?

Only that "nonsense" that you are mentioning can keep BTC succesful,in the first place BTC is actually a currency,then store of value.The way you think about it is not unknown,many people just want to price increases as soon as possible so they can sell crypto and buy some of their dreams with fiat.

First of all we don't know what the true intentions of satoshi were, he talked both about currency and digital gold/store of value properties, and also it doesn't really matter what he wanted, Bitcoin is what it is and it's a store of value before it is a currency, since being censorship resistant is it's #1 feature, and if you don't care about that then well, then just use fiat.

Also anyone is free to invest or not right now, and average joes naturally will be the last guys to enter, what satoshi wanted is irrelevant to this fact.. The guys that have more money will typically be smarter and get there first. There are a lot of idiots with a lot of money out there tho.

1284  Economy / Speculation / Re: What’s the % of BTC owners and users in the world? - Here’s my take on it! on: April 02, 2018, 05:59:04 PM
I found your estimates for wrong and the real number should be significantly lower.

For example, I have over 10 BTC wallets with some dust and little over 0.001 left from different payments, mixing, gambling and so on. I'm sure that everyone who's dealing with crypto currencies from few years have few like those.

So I think the real crypto users are just a few millions. The technology is still too complex for ordinary users and mass adoption. You grandma could use a CC, but crypto? Or even your parents?

What most people don't get is that we don't even need mass adoption to get the price up x10, we just need the individuals with high net worth to diversify their portfolios into Bitcoin.

Most money in the world is controlled by few individuals.. so why the hell people want "mass adoption"? average joes putting their small savings into Bitcoin will do nothing, we need the big pockets to diversify their stupid stocks and bonds into Bitcoin and eventually this will happen, but people are too focused on how we need to pay coffee with Bitcoin to "go to the moon" which is nonsense.
1285  Alternate cryptocurrencies / Altcoin Discussion / Re: Bitcoin vs Bitcoin Cash on: April 02, 2018, 04:31:31 PM
It was mostly because people with big megaphones like Roger Ver promoted it, otherwise it would have never happened.

He and Jihan Wu got deep pockets and are trying to buy all the social media to promote BCash. Bitcoin . com is promoting BCash as being Bitcoin nonstop. He also bought the @Bitcoin twitter handle, and he also bought many big youtubers like Jeff Berwick and Mike Maloney to promote the thing. He's also got /r/btc reddit and hates how he doesn't control /r/bitcoin to push his narrative. He is insane.

The only technical reason that they argumented are:

1) Bitcoin can grow infinitely without a blocksize cap and not end up centralized (delusional bullshit)
2) Segwit poses risk on Bitcoin (debatable)

That's all.
1286  Economy / Economics / Re: "High fees = low BTC price" Anti-Cen's claim on: April 02, 2018, 03:27:28 PM
But what about Roger and Ver's spam? Also Coinbase's batching and other big exchanges sorting out the batching problem, and then a % of segwit transaction volume going up which also helps... all of that happened around these times too.

Im sure Ver and Roger were monitoring the price to sync up the spam to it to make it look as if the mempool being full coincided with the crash.

I don't typically believe in conspiracy theories but this is a war and that is how they do it.

You may dislike Bitcoin but it's still the best. Every promise i've seen of a "better Bitcoin" has been a ridiculous scam thus far.
1287  Economy / Economics / "High fees = low BTC price" Anti-Cen's claim on: April 01, 2018, 06:24:01 PM
Anti-Cen is a great poster and has a nice technical insight on things but some things I don't agree with, for example "High fees = low BTC price", it's not clear to me that this is the case at all. High fees means high demand = high price. How much high fees kick out potential buyers? im not sure about that, but people with money is willing to pay. It's a complex thing to calculate, but in any case, let's look at the current scenario:


https://jochen-hoenicke.de/queue/#1,1y

The mempool is as empty as it gets, transactions are fast and cheap, they have been for a while. Particularly in February there's only blue in there which means things are fast and cheap, yep we continue crashing... how does this translate with your "High fees = low BTC price" claim?

What's also interesting is that fees peaked on December 22, which is when we fell to $11183... but im not sure if this is correlated or not.. to me it just means people were FOMOing to Coinbase to buy more, then the crash just happened, and as it started crashing the transaction demand also went down because people (most noobs) went back to thinking Bitcoin is dead and there's no point in buying anymore, but the trigger to stop buying was not the peak in fees.

I would like to discuss the impact on fees on the price and if it's really correlated or not now that we have the data required.
1288  Bitcoin / Development & Technical Discussion / Re: Data-stream encryption on: April 01, 2018, 06:14:18 PM
If you use Windows and don't trust AES what about Veracrypt? you can use cascaded encryption settings that not include AES, you got Whirpol, Serpent, Twofish... anyway, why even use Windows? it's reasonable to assume that you are compromised by default using Windows to be honest.

dm-crypt and LUKS as Linux options but if you still need Windows then Veracrypt has insant on-the-fly decryption but im not sure how I would even go around adding that into a onion style network. I was about to make a thread about how attackers will try to incriminate people running nodes by claiming the blockchain has illegal data on it such as links to drug and CP sites and other crap which would mean anyone hosting a full node would by default be a criminal... which is why I wanted a forum dedicated to encryption only, I think it will be a must in the future for people running nodes specially, just be sure to do it right, I bricked a couple of hard drives testing things out, my password doesn't work, luckily I don't have anything of value in there.

Also please check this thread.
1289  Other / Meta / Re: Activity, Merit, Politeness, fMerit, Imagination, Virtue, Coins, Karma, Posts !! on: April 01, 2018, 04:46:27 PM
Yeah I just saw this, it's pretty funny, it reminds me of the the stats for a role playing character, like Dungeons and Dragons, Final Fantasy videogames, Diablo... Looks like we will need to max out our characters to impossible levels next in order to participate in signature campaigns. Time to start training.
1290  Economy / Speculation / Re: Bitcoin breaks $6k barrier on: April 01, 2018, 04:42:25 PM
Don't forget that $5500-$6000 is the current cutoff for mining profit. The big miners have big pockets and connections to attempt to keep the price up, so that $5500-$6000 range could be the bottom against TA. Unless they want to buy in cheap on the $3000 range as the lowest bottom before FOMO starts kicking in.

This is Bitcoin guys, it's ridiculous that you think TA will apply like clockwork. It just takes whales to meet up and they can change the trend, and these have a massive incentive to hold that floor - and deep enough pockets to do so.
1291  Bitcoin / Development & Technical Discussion / Re: Lightning network - implementation plan and roadmap or expected sequence ahead? on: March 31, 2018, 06:29:02 PM
This article will gelp you better understand the LN and its potential danders....https://www.blockchains-expert.com/en/lightning-network/
No.....no it won't. It's not accurate and or correct. It seems to state that the "payment channels" will be "regulated". From my reading of the White paper, I do not believe that is either possible or true. This article seems to be spreading the misinformation that Lightning is a venue for Banks and corporations to control the BTC network. I strongly disagree with that premise.

Consider the inverse then: your reply suggests that Lightning is unregulated, which is not necessarily true, depending on one's perspective.

While Lightning (like Bitcoin) is unregulated by purpose-built regulatory agencies, it is regulated by it's design (i.e. theft using old channel states is too risky to exploit). This can be regarded as a combination of code-level and peer-to-peer regulation. Possibly incorrect descriptively, but the outcome is the same: users are protected from fraudulent behaviour.


If Lightning (or Bitcoin) is promoted as being "unregulated", then all that does is validate stories in the press about "the wild west of cryptocurrencies". If some people insist on looking at all things Bitcoin from the regulatory perspective, then it's much better if the common knowledge is that the software itself provides the regulation, which makes Bitcoin difficult to corrupt (unlike human regulators)
Yes thanks for clarification. My reference to regulated, was specific to outside agencies. ( Governmental ). I keep seeing these posts claiming that Lightning will be forced to be "regulated" by government agencies thereby creating centralization and control by "financial institutions". I may be wrong, but from I have read and watched, this just isn't true. Internally regulated within the platform......I sure hope so.

I think government agencies will run their own hubs and they will pass laws forcing exchanges to go through these hubs as a part of KYC, or at least exchanges hosted within certain jurisdictions at the reach of these governments. We'll have to wait and see how it develops. There will always be exchanges hosted somewhere in some island that is not impacted by any of that anyway. Decentralized exchanges through LN are also something that has been hyped out for a while but it's still too early.

The LN network keeps growing exponentially, we are at 1200+ nodes, if you keep track you'll see how it keeps growing at a faster rate: network effect kicking in. By 2020 we should have around 100000 nodes and by 2021 we may see a comeback of Steam accepting Bitcoin payments if not earlier. The Bitcoin price itself will also be past $100000. Good times ahead.
1292  Bitcoin / Development & Technical Discussion / Re: CoinSwap + CT = Truly Anonymous on: March 31, 2018, 05:59:31 PM
For anonymity in bitcoin we will have to wait for at least two improvements:



Schnorr as a basis for coinjoin can bring a pretty decent privacy level to bitcoin.
This, of course, requires the majority of people making use of this feature. But with lower transaction fees this should be incentive enough.

I think both is going to happen in the short-mid future.






And don't forget this:

https://www.coindesk.com/aim-fire-bulletproofs-breakthrough-privacy-blockchains/

I think we have now all the missing pieces for the puzzle. Not it will just take some clever engineering to make it all work in practice, and of course will go through some more drama to activate this, just like segwit, I just hope it's easier to get implemented but I doubt it will be smooth.

Also it must be optional. Maybe enabled by default (because generally you want as much people as possible using it for it to work better) but there's a problem: if you want to buy some real estate with your bitcoin gains, you'll need to prove your trades. If your trading history is hidden, then how do you prove that you obtained your BTC gains legally and not trading drugs or whatever? this is why I think it must be optional, even if enabled by default.
1293  Alternate cryptocurrencies / Altcoin Discussion / Re: who invested earlier this year? on: March 31, 2018, 05:07:03 PM
I haven't bought any altcoin since I learned how it will just give me an headache trying to fill taxes when try I cash out some of the gains into fiat. It's ridiculous that you are supposed to report every single trade. I did a ton of micro trading back then and I did it in exchanges which are now dead, and I lost the trading history, I can't even report these gains anymore as a result.

And now all exchanges require you to take a picture of you holding an ID, an electricity bill, and other nonsense. Who the hell wants to do that. Only exchanges with tiny volume still allow for some free trade (Livecoin, Cryptopia...) no altcoin interests me anymore. Im just holding Bitcoin and that is enough. If an interesting altcoin pops up then I'll consider allocating some of my coins into it.
1294  Alternate cryptocurrencies / Speculation (Altcoins) / Re: US Tech Company Intel Files Patent To crypto mining Energy Use on: March 31, 2018, 04:13:24 PM
Patents don't work with Bitcoin, I don't like the idea of patents at all specially in this context. What Intel should do is get their shit together and start competing in the mining game with their own devices. I wonder what the hell are the waiting for. Im 100% sure it will eventually happen, they are just watching each other (Intel is waiting for AMD, nVidia etc to make a move, same for the rest). It just takes one of them and the rest will start getting nervous and not taking part, then it will start escalating very quickly. Monopolies don't last forever and Bitmain has had his time for almost a decade, by 2021 or so I predict big new things in mining.

Believe it or not, it helps.  Each drop accumulates.

Re: new mining hardware, Japan entered the arena for a while now and will make Bitmain obsolete soon (comparatively inefficient).

https://news.bitcoin.com/japanese-internet-giant-gmo-launches-mining-business/

It takes time, but they are building the infrastructure to make BTC much more stable and less dependent on China farms.



I'll believe it when I see it. I have been reading about this or that company (outside of china) getting into the mining battlefield, yet im still waiting for them to drop any devices on it. All I see is "this or that chip", but they aren't building their own ASIC machines, and that is what they need, otherwise Bitmain will just keep being on top.

We need more stuff like Dragonmint. If Intel and co put their resources into Bitmain they can do it.

Patents can end up in mega monopolies in which they control most of the hashrate... a nice way to crash the price. That is why we don't want patents.
1295  Alternate cryptocurrencies / Speculation (Altcoins) / Re: US Tech Company Intel Files Patent To crypto mining Energy Use on: March 30, 2018, 11:53:07 PM
Patents don't work with Bitcoin, I don't like the idea of patents at all specially in this context. What Intel should do is get their shit together and start competing in the mining game with their own devices. I wonder what the hell are the waiting for. Im 100% sure it will eventually happen, they are just watching each other (Intel is waiting for AMD, nVidia etc to make a move, same for the rest). It just takes one of them and the rest will start getting nervous and not taking part, then it will start escalating very quickly. Monopolies don't last forever and Bitmain has had his time for almost a decade, by 2021 or so I predict big new things in mining.
1296  Alternate cryptocurrencies / Speculation (Altcoins) / Re: crypto market cap will drop way below 200 billion. on: March 30, 2018, 11:12:17 PM
The potential marketcap for Bitcoin during the next decade is at least half of gold's marketcap, so around 3 trillion, which means it's definitely possible to do x20, even if you bought at the top of the last bubble. If you bought at $20k, we will hit $200k during the next decade, the problem is most people that bought at $20k are short sighted normies that are going to sell at a loss, make no mistake about that. If they didn't sold a while ago, they will sell most likely at the damn bottom, right when the smart people is filling up their wallets for the next peak. Unfortunately this is how markets are, Pareto distribution will guarantee that the strong hands keep getting stronger. Most people will NOT make it because people aren't biologically wired to think long term, they can't deal with the risk, they can't sleep until they are back on fiat, even at a loss.
1297  Alternate cryptocurrencies / Speculation (Altcoins) / Re: We are all fu***ed on: March 30, 2018, 06:23:04 PM
Well, if you don't consider yourself a dumb normie you should know that we don't need normies or "easy to use blockchain technology". We just need bitcoin to keep being a solid store of value, then people with a lot of money will sooner or later be forced to park their capital on the capital B blockchain unless they want to lose it with up and coming global crisis. All the capital you gain through normies "adopting bitcoin" is sooner or later lost because they are too stupid to think long term and they will keep panic selling, which is good news for us since we can pick cheap coins again.

Normies will be back with the next bull run to $50, $100k, $1million etc, during the dips which could last 1+ year we are the smart ones left buying cheap (as always) meanwhile normies panic dump and get raped by taxes and reported a million triple letter agencies through their Coinbasetardness.
1298  Bitcoin / Development & Technical Discussion / Re: bech32 generation in the GUI question on: March 30, 2018, 04:32:37 PM
What, are you saying that you will not be able to choose between nested and bech32 format anymore? from what I understand, it reads as if they will remove the checkbox... why? How will I choose what format do I want to generate then?
No, the "New" button in the "Receiving Addresses" dialog was removed. You can still generate bech32 addresses with the "Receive" tab; nothing has changed there.

Oh I get it. Why tho? It was useful to be able to create addresses from there... I got all of my addresses listed there. I don't have the list on the other place. Sometimes I want to create a new address re-using an existing label for example, so I can copy paste it from there and do it all on the same window. Now I will need to find the label I want to re-use, copy the label, go to the other window to generate the new address, paste the label, then remove the address from that window since I don't really need it to stay in there too, I mean in the "Requested payments history", mine is empty because I kept track of addresses on the Receiving Addresses" window:

1299  Bitcoin / Development & Technical Discussion / Re: Changing Max Supply after released on: March 30, 2018, 02:56:26 PM
Consider that most people buy cryptocurrencies for the speculative factor/as a store of value rather than to transact with it for good and services, since most people can do that just fine with fiat in the developed world, so changing the total supply would be a disaster for investors.

It seems you want to do some sort of federated blockchain for an internal business tho, so that doesn't apply... still, I still don't see what the point of closed blockchains are... isn't mySQL doing the job good enough for these ends?
1300  Bitcoin / Development & Technical Discussion / Re: bech32 generation in the GUI question on: March 29, 2018, 04:58:42 PM

Unfortunately this checkbox will not be implemented anymore.

There was a request to do it here
https://github.com/bitcoin/bitcoin/issues/12520

The solution was to remove the "New" Button in the address book so it's only possible to create new addresses via the "Receive" tab.
This is the pull request which is already merged into the bitcoin master branch.
https://github.com/bitcoin/bitcoin/pull/12721

So with the next bitcoin core release there is no more "New" Button in the address book.

I already implemented this checkbox as I also missed it, but before I got the chance to create a pull request, the "New" Button was removed so my changes are useless now.

What, are you saying that you will not be able to choose between nested and bech32 format anymore? from what I understand, it reads as if they will remove the checkbox... why? How will I choose what format do I want to generate then?

In my opinion I still believe a sliding menu would be the best way:



Having this there next to the button that generates addresses is very straight forward and clear.
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