The main point is to plan ahead before the attackers enter your borders looking for your stuff. So if Maduro wanted to do it right he would already hold all of his coins. He would also appoint someone he could trust to have a backup overseas. Typically countries position themselves depending if they are from the western axis or the euro-asian axis. So then this appointed person would move to whatever country is officially supporting Venezuela, like Russia. At this point his wealth would be sitting within safe borders and he would be free to sell or not to sell his bitcoins.

For this reason bitcoin beats gold and therefore is undervalued by the $trillions.

$3000 was seen as insane prediction by many just a year ago. What do you mean holders have a negligible effect on the price? We are making obvious progress, every time we crash, we bottom at higher prices, then we start the journey to a new ATH. It's obvious it's going to be extremely volatile but it's the holders of last resort that matter. As far as supply keeps shrinking and the demand for the only unconfiscable asset on earth is there then the price will inevitably go up long term. It's going to take a while, these market cycles get heavier to move with every new ATH due the higher marketcap.

I don't think the OTC market can sustain the amount of volume that these big players would need, there's not enough liquidity, at some point it has to happen.

By 2022 I expect $100k easy. We'll have the ETF, Bakkt, Fidelitys ready, and we'll have second layer solutions for the small guy as well. Debt of USD will keep on growing showcasing that it's far from solved (the fiat problem). Bitcoin will be a strong bet and right now it's tiny, so I see 6 $figures.

This is why I see a permanent bullish case for Bitcoin. You have to plan ahead, so you must hold it before hyperinflation hits, this means that even if things are ok in the economy, it's a good idea to hold time at any rate whatever the situation is.

It terms of not getting richer because hyperinflation devaluates the currency, it's not really the case because Bitcoin is limited in supply so even if the purchases are smaller, they still shrink the supply so holders of BTC benefit.

Not really an argument. Appealing to low liquidity just proves that Bitcoin is still tiny and thus potential for growth huge. If you look a the fundamental analysis, it still applies: If Maduro had Bitcoin reserves instead of gold reserves, it would be better than 0, which is what he is going to get as soon as US gets a foot inside Venezuela.

As other realized this fact, Bitcoin would grow and liquidity problems would vanish.

Also we are looking at 1.2 billion. Bitcoin moves $6 billion daily on traded volume. The market could absorb it.

When physical cash is removed in the name of protection against terrorists and drug dealers, it will be the final nail in the coffin for arguments like this to be defended by JP Morgan and co, and it will be the start of the ultimate bullrun to end all bullruns. I can see Bitcoin being worth $1,000,000 overnight when these anti-financial-freedom policies start going up exponentially.


It's going to be great as well when Orwellian laws against owning gold start passing and they start stopping everyone trying to cross borders carrying any gold. Perhaps by then r0ach understands how gold is objectively inferior to Bitcoin.

But not rewinding the tape to big bang is like it or not a tradeoff. As technology progresses, it shouldn't be a problem to keep being able to download the tape since the big bang, again assuming blocksize isn't raised to the point that this becomes impossible.

I would need to see numbers to see % of potential exploits being possible if you start cutting the tape. Exploits or failure to reach consensus can happen in a long enough timeline and if that happens then you want to be able to have as many copies of the entire blockchain not to mention being able to download it from scratch.

Those type of indicators are what they are, they aren't some magic crystal 8ball that's infallible. From the ones I've seen, my favorite indicator of this nature to follow has to be the Mayer Multiple, which you can find linked on Trace Mayer's twitter. At least the guy is an OG Bitcoiner and has been through hell and back. I would trust that guy's knowledge before anyone other indicative models that other people are proposing.

It's probably going to be another regular day. I don't expect anything to happen this year. This year will be the final test where hodlers of last resort are put to test and any remaining noobs that don't get the fundamentals of Bitcoin are still yet to capitulate. I can see a flash crash as low as $1300-ish for a final capitulation as worst case scenario.

Another probable scenario is going sideways for a long time, then price starts creeping up slowly, and this is how typically FOMO is formed, everyone that was waiting on the sidelines start getting nervous and a bullish chain reaction is created.

If Bitcoin-settled operations like Bakkt, Fidelity or ETF are approved and get tons of volume then we could go $100k overnight since some people seem to forget Bitcoin is still tiny and any institutional buy orders can skyrocket it.

Lets say you have a wallet with a bunch of transactions and different inputs and so on. Is there a way to make a copy but watch-only? I know there's a command where you can manually add the public keys for watch-only in an empty wallet but this is so annoying to do it one by one. It would be cool to make "watch-only copies" of the entire wallet.dat file.

It's always going to be a tradeoff. The most hardcore users aren't going to buy that cutting off a chunk of the blockchain is safe. As long as it was optional then let other people do it, but don't ruin it for those that want to sync since the genesis block. In any case from what I can remember reading when I asked the same thing a while ago what I think I was told is that basically you couldn't sync without doing it from scratch anyway. Correct me if im wrong but you cannot run a node in pruned mode unless you sync from scratch even to this day (you can save a ton of space by not storing the entire blockchain as it cuts as it downloads but it must be downloaded and validated from scratch). I think at 1MB this is not a problem, however with bigger blocksizes I wonder if in in the future it would become a problem trying to sync from scratch but thus far is not an issue.

Just the same pro-Krugman pro-inflationary propaganda we've seen a million times before.

The bullish case for Bitcoin is already there. It doesn't need to be some rich economy with tons of people buying and selling stuff in exchange of Bitcoin and whatnot. That would be great, but it's not the only use case. Defending against confiscability and inflation is already a rock solid use case worth trillions. Case in point, refer to this thread for example of why governments must hold BTC:

https://bitcointalk.org/index.php?topic=5103036.msg49460938#msg49460938

If you still not see why Bitcoin is objectively worth $trillions long term, what can I do?

If Maduro was holding Bitcoin instead of gold, specially gold outside of your borders, he wouldn't have had that little problem. Of course Maduro is probably too computer illiterate to get the thing done.

You could make the argument of "if he was holding his gold inside his country he wouldn't have been denied access". Well still, it would make sense to hold Bitcoin and not gold, specially when you have an empire like US always threatening anyone with entering your country and taking all of your gold and oil reserves as they will do with Venezuela. With Bitcoin they couldn't be able to take them as you could have safe backups overseas.

This is an unbeatable logical argument for the bullish case of institutions holding Bitcoin. Im not saying they should dump all of their gold, but definitely dump a certain % and diversify with Bitcoin. This will happen sooner or later, and it just takes a first mover for the rest to follow, they will not be able to afford not having some due game theory, similar to not having powder back in the way when when wars were fought with swords.

This is why using wallets that don't have "Coin Control" type features as seen on the Core client, ideally with a nice GUI because it's easy to screw up with a terminal when dealing with multi-input transactions is just insane. You should have full control of your money at all times. If you just click "send" you don't really know what's going on.

And relevant to this spam annoyance, I remember back then some guys were spamming their websites, or sending offensive messages or some bullshit with the dust spam. Imagine that you sell your coins for fiat and authorities look at your addresses and see spam with messages like that. I hope they understand that it's just stupid trolls. Anyway the best thing you can do is just ignore these addresses with Coin Control.

Anyone knows if there is a way in the Bitcoin Core GUI to block certain inputs? I want to block all the stupid spam dust that I have to guarantee I don't accidentally move them ever. There should be a way to do this if there isn't already, it would be pretty handy.

It's never going to be worth risking your personal information all over the dark web just to trade some altcoins. They want your picture holding your ID, that is insanity. All those altcoin exchanges are just so dodgy. When they start getting bigger they start asking for KYC. I understand they need to do so to stay in business if it's hosted in certain jurisdictions.

I would only risk giving them a picture of me holding my ID if it was an strictly regulated business by a first world country, and still there's just something that I don't like about it. I don't remember ever having the need to do that to deal with the government. I guess that is needed when you are dealing with an international government tho, there doesn't seem to be a escape out of it. All centralized exchanges will need KYC eventually.

Yeah, I have the email posts for withdraw and deposits, even for dead exchanges which is an even bigger problem (I lost my trading history on some other dead exchanges, who doesn't remember Cryptsy and so on). I lost access to the email account but recently I was able to luckily get back to it and I have all the emails.

Anyway the big problem is, there is no info regarding trades. Just money in and money out the exchange. I think thy will ask for trading history. I know I did nothing wrong, however governments don't care, generally they want everything and you are risking big fines for every wrong bit of data you give. Im afraid they could use this to f*ck me up when I attempt to cash out gains with incomplete trading history. In some countries they are really strict with this. I would really like to know if someone has been in the same situation and how it went when they tried to cash out bitcoins with incomplete history when it comes to trading the tracing back all the gains.

Imagine that you send some bitcoins to Livecoin to buy some altcoin that you were interested in, did some trading, found some profit, increased bitcoin count. Very nice, but here is the problem: Turns out Livecoin deletes all of your trading history every 15 days. I realized this when it was too late because the fuckers put it on tiny fonts somewhere where it's not that visible. Now I have lost the trading, so if I wanted to sell the bitcoins that were obtain through the trades in there for fiat and they asked for details, I wouldn't have said details since stupid Livecoin apparently thinks deleting people's trading history is a good idea.

What would be your options if this happened and you were saving money to buy property? It would suck not being able to sell your trading gains. I would be worried to simply tell the truth, that the trading history is lost, because they don't really care about the truth, if you have nothing to show to prove the funds are from legit origin there is a risk they screw you up. Any ideas?

The bitcoins that are held by the ETF are supposedly going to be bitcoin-settled. This means that there must be a 1:1 ratio for the demand of bitcoins, which means the funds must buy bitcoins and have enough supply for all the clients, and it must be regulated to avoid scams. This is very bullish since it would give access to actual bitcoins to all these old cunts with lots of money out there, which are too computer illiterate to hold their own private keys safely.

Bakkt is a similar product. Anything that is bitcoin settled and isn't derivative scams like futures is positive for the price. Of course they will wait for capitulation to before the pump to $100k+ comes just like they did with gold.

https://www.coinstar.com/

What do you think about this? looks like it's some company that wants to have ATMs where you can exchange a bunch of quarters in exchange of bitcoins and im not sure if some altcoins too.

It sounds like a positive idea to me. Everyone has fucktons of money at home that you don't even know you own in small rotting coins. I once counted up to $200 bucks worth of small coins that I would gladly convert into bitcoin before they continue rotting.

You are asking people how to commit a crime in a public forum basically, from what I understand? maybe not a crime but a felony, I don't know how that really works. The main point is, I don't think people is going to help you break the law, at least I will not. What you should do is comply with the law, is as simple as that. If you don't like the laws of your country, move to another country. In case of doubt, do not sell and hold the coins and figure out what you want to do.

In any case I will tell you one thing. If the way you obtained the coins aren't linked to your identity in any way then Uncle Sam has no idea about that, but as soon as you cash out you better pay all of your taxes.