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October 21, 2019, 09:21:29 AM *
News: Latest Bitcoin Core release: 0.18.1 [Torrent]
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541  Economy / Speculation / Re: Tom Lee, from bitcoin bull to bitcoin bagholder on: September 21, 2018, 01:45:56 AM
Someone that bought at the peak of the 2013 MTGox bubble before it burst, was seen as the biggest idiot on planet earth, the biggest bagholder. When you searched "bagholder" in investopedia, the face of the guys that bought at $1300 in late 2013 would show up.

Of course, needless to say now these bagholders are envied by these that were calling bitcoin dead all across that time range of low prices. They can only dream to buy Bitcoin below $3000 again, let alone $1300.

Long story short: hodl.
542  Economy / Speculation / Re: Etf decision on: September 21, 2018, 01:38:28 AM
LOL, right after I said we won't hear anything this week, the SEC issued the statement.

Is it just me, or did the market pump a couple hundred bucks when the ETF postponement news dropped? Sure doesn't seem like the market cares about the ETF anymore! Smiley

So I'm hearing we're waiting 180 days now? That's the word in my trading chat anyway. The Coindesk article doesn't say.

This is what happens with everything else: The news stop having an impact on the price. This is the exact same scenario as it used to be with the PBOC announcing bans on exchanges, until eventually it happened so many times that their press releases were irrelevant to the price or even pumped it.

With the ETF rejections it will go the same route. Once they see they can no longer manipulate the price by rejecting it, they will be loaded with coins already by buying all the cheap coins wit the dips they created, so it will then be the time to allow the ETF to pump it into new $100,000+
543  Bitcoin / Development & Technical Discussion / Re: When Schnorr will be added? on: September 21, 2018, 12:50:11 AM

It's far simpler than SegWit, there's even less reason for controversy around it, and it won't be done using the BIP9 process which caused SegWit's unnecessary delays. I could see the Schnorr softfork completing next year.

So in order to add schnorr signatures, we will not go through another dramafest of mining wars fighting each other with hashrate signaling different things?

If I remember correctly satoshi used in the past softforks that didn't need mining signaling (basically a UASF? but there wasn't a name for it back then). Im not sure why segwit took that route. Was it simply to allow miners to have their say with their hashrate or was it because of technical reasons that needed it to be implemented that way?

That's because SegWit developer use "anyone-can-spend" and remove signature part of transaction as method for backward compability where it can be used to steal Bitcoin if majority nodes/miners don't support/use client that support SegWit.
And this is one of the argument used by opposition used to stall/disrupt consensus years ago.

AFAIK Schnorr don't use similar method for backward compability.

Im aware of the segwit controversies and why it caused that. My point is, there are very conservative people in bitcoin and will basically reject forever anything that isn't a legacy transaction (addresses which begin with 1 only, and nothing else, as valid bitcoin transactions).

There is people that say the incentives to do an attack on segwit aren't there, and other's say that on a long enough timeline, the incentives will align and only these holding their coins in legacy addresses will be safe (therefore, the incentive to keep your coins in legacy addresses is already formed, unless you believe this to be nonsense and you are sure it will never happen)
544  Bitcoin / Development & Technical Discussion / Re: When Schnorr will be added? on: September 20, 2018, 02:25:25 AM

It's far simpler than SegWit, there's even less reason for controversy around it, and it won't be done using the BIP9 process which caused SegWit's unnecessary delays. I could see the Schnorr softfork completing next year.

So in order to add schnorr signatures, we will not go through another dramafest of mining wars fighting each other with hashrate signaling different things?

If I remember correctly satoshi used in the past softforks that didn't need mining signaling (basically a UASF? but there wasn't a name for it back then). Im not sure why segwit took that route. Was it simply to allow miners to have their say with their hashrate or was it because of technical reasons that needed it to be implemented that way?
545  Bitcoin / Bitcoin Discussion / Re: Hackers on the rampage again, 59M $ Stolen on: September 20, 2018, 02:11:24 AM
I saw this going through my Reddit early news. I don't think this will have any negative impact on the market.
I have always wonder the security level of Cryptocurrency exchanges. Although am not a Cyber-security expert, but have once heard of something called "multiple signature" been required for withdrawal.  Such fear of exchanges been hacked is a course for concern for someone wanting to invest big in the market. My take is that: for now, use well trusted exchanges that have zero tolerance for security breaches, and try not to leave too much fund in an exchange. I hope customers get compensated since it's a management lapses.  

I think the overall level of education in Bitcoin is rising. Seems like finally, it is getting through their rather thick skulls of newbies that the failure of exchanges trying to keep coins safe isn't relevant to bitcoin's security. But still in 2018 there's tons of people that when they read these headlines, think that exchange hack = "bitcoin hack". There's still a lot of work to do when it comes to that, but slowly we'll get there. And as education level rises, these news will have less of an impact as they would understand there's no reason to play along with the panic selling of these news anymore.
546  Bitcoin / Bitcoin Discussion / Re: Bitcoin Core 0.16.3 Released on: September 20, 2018, 01:47:35 AM
So we don't need to delete the chainstate folder before opening the new update?

Just a suggestion for safety safe, don't put the sha256 sigs on the same ftp/host as the files. That way if the files do get hacked the hacker cant alter the sha256 sigs too.


Good point. I think devs should separately put sha256 hashes on their twitter or in here or just in as many separate places as possible so then it's impossible that a hacker gets away with it since he would need to have control on all these different points of failure.

Some altcoin devs put hashes on github release page too but for bitcoin i can't find it.
547  Bitcoin / Bitcoin Discussion / Re: Bitcoin becoming the standard value of commodities on: September 19, 2018, 02:40:27 AM
I don't think we can simply decide when to stop using fiat to value things, just as the case of people using bitcoin instead of fiat for the regular stuff, it must happen out of necessity.

So when your fiat goes full retard and becomes a big clusterfuck of hyperinflation, it is no longer viable to measure things in it, just like how it's too annoying to measure things in the venezuelan currency.

Im not saying efforts in measuring things in bitcoin shouldn't be made, im just questioning how viable it is if the person's fiat currency is still functional. We may do it because we are early adopters, but not the average joe.
548  Bitcoin / Bitcoin Discussion / Re: Does Bitcoin have a place in the future of finance as a global currency? on: September 19, 2018, 01:28:04 AM
Personally In short, yes, I do believe we will transition towards it and hit a lot of walls along the way while we find acceptance and mass adoption but I believe we’ll eventually hit a point where most of those walls become insurmountable and that’s when the alternatives start to show up..

We’ll start to see various coins battling for the top and it will almost assuredly be an amazing time in our world.

Either way, we’re in for a ride and in the mean time, those individuals saying we’ll hit $50,000 on Bitcoin are not wrong. We’re already on our way now.
I suppose not investing Bitcoin means losing free money everyday. Soon I will see my mother shopping with Bitcoins And i believe world will have a single currency that is Bitcoin.


it will not become a global currency, i will become just one of many pow token cults,

and they wont be very popular or successful as well

no one but bitcoin miners and owners have an interest supporting it. anyone else has to live with the burden of electricity wasting and internet propaganda from it. so there will be constant opposition

bitcoins popularity only existed because people wanted an open financial market.

bitcoin as global currency would mean a world like this: the picture is called "the pethahash trillionaire"

There is an in my opinion rather obvious incentive for states to own bitcoin reserves. States will always want to own reserves of something neutral to hedge against other states failures and their own failures, theirs an endless variables and thus reasons you want something neutral.

Turns out that now we have bitcoin as a gold substitute. Some may argue that it isn't, but the longer bitcoin survives the bigger the incentive will be to hold it.

I don't think the positives of bitcoin vs gold need to be mentioned again and if you can't see them for yourself then think harder.

As far as mining goes, it's a competitive market, monopolies come and go.
549  Bitcoin / Bitcoin Discussion / Re: To hell with regulations and government interference on: September 19, 2018, 12:16:17 AM
I agree, however I don't think it's really on our hands only to get bitcoin into the mainstream to replace fiat. Fiat must fall by itself, we cannot artificially create the incentives. The legacy system must be rendered obsolete, useless, just like everything else that replaced a previous thing.

With fiat, right now people just don't see a necessity to use a cryptocurrency in most cases, since people get paid in fiat, and have access to any goods and services they would need in fiat.

The good news is, when governments get rid of physical cash, the use case for bitcoin will be huge. Then add in the fundamentals of fiat continuing into hyperinflation clusterfuck and you can see the time for bitcoin to shine will come.

Of course third world countries are in need of bitcoin right now, so the faster we can get second layer solutions the better. Then it will be on their part to learn how to use it.
550  Bitcoin / Bitcoin Discussion / Re: Bitcoin Core 0.16.3 Released on: September 19, 2018, 12:06:10 AM
Are bitcoin’s stored in Core wallets safe?
I mean how urgent is the upgrade, nobody can access my private keys right?

There's a sticky about this in the News section by theymos:

I had a small heart attack because the part in bold that says "Stored funds are not at risk." I did read as "Stored funds are at risk." and I was tripping.

Of course, I also realized I don't have my wallet online with the node so still I should be ok, but if someone managed to steal funds from wallet.dats it would be a disaster nontheless. Luckily this seems to be none of that.
551  Economy / Speculation / Re: Settled at ~$6400 for now? on: September 17, 2018, 03:25:45 PM
The surge is yet to come. The end of the year 2018 will be a great time for BTC, I am getting the felling from now that the December 2018 will be golden time for the bitcoin miners and investors. There’s been a good journey from 2016 the price reached from around 3k to 6 and a half K.
No it will not be a great time for bitcoin, because many people before already said the same but things were different from their predictions. In the previous year people told that 2018 will be the year of bitcoin but we saw that 2018 is the worst year for bitcoin so far. How is it possible that the price will go up in the last quarter of the year? It is totally nonsense.

And in 2017 nobody was saying Bitcoin was going to hit $20,000 and we all know what happened. Just look at the predictions of Tone Vays, eh was saying $7500 was the best possible scenario in 2017. People always screw up on their predictions specially all these reputed analysis.

What we know right now is that it is re-testing $6200 which was when the drop from $7411 happened in september 5th. If we can get above this we'll keep going up, if it goes lower then get ready to buy the dip as usual.
552  Economy / Economics / Re: China’s Crypto Custody Sector Is Growing despite the Mainland Ban on: September 17, 2018, 02:35:13 PM
What could be really banned if its technological ?

In many countries the VPN  usage is sky high and people keep going to websites the government has banned. That is just one example, I have seen bans on all kinds of tech related stuff in some countries that people keep finding solutions to by pass that ban.

China is a huge country and yes if they allowed people to use coins the way they want and let them be the bitcoin deal would have been a lot bigger there however no matter how much you ban crypto, it is not something you can just go and ban, the things you ban are the exchanges and people can still trade OTC some how.

It's always going to be the same results: Government X bans bitcoin, bitcoin drops heavily in a sharp big red candle, then this dip gets bought by the smart money as they understand the fundamentals (the fact that a government bans bitcoin is irrelevant long term, and they see the dip as it is: another great chance to accumulate at cheap prices.

And most people going OTC are the ones that own most of the money. Rich people never use exchanges, the real whales go for OTC deals, so all these bans just don't matter.

553  Other / Meta / Re: Enhanced newbie restrictions & requirements on: September 17, 2018, 01:47:32 PM
Interested to see how this turns out in practice. The theory may sound good, but I can see how this could backfire, since now having an account with only 1 merit is already a desirable thing. Desirable things create incentives to get as many of it as possible. In this case, there will be an incentive to own 1 merit accounts to sell them to newbies that want to start getting some satoshis with bounties right away, so I can see a market for single merit points developing.

It's probably better than what we have now tho, since at the end of the day newbies will either have to pay for the account or get the 1 merit point themselves, only time will tell how the situation looks like after this change.
554  Other / Meta / Captcha without javascript on: September 17, 2018, 01:13:54 PM
When I open bitcointalk with javascript off, I get a captcha that I can complete successfully without having to turn javascript on. You just have to click in checkbox within the images and then copy-paste a code, looks like this:

I was wondering, if this works there, then why it can't work when login in? just add the same time of captcha in the login page too.
555  Bitcoin / Bitcoin Discussion / Re: Noob reflection about Lightning Network. Will it really work? on: September 16, 2018, 11:42:58 PM
The idea is to put money in your LN wallet that you would then use in smaller transactions, so you just have to put enough money to not need to constantly refill it and the channel stays open.

The problem will be when fees are insanely big so it's not economically viable anymore do an on-chain transaction to do a refill.

At that point they'll better have something clever to solve it, because I don't see a blocksize increase happening (not because "some devs" don't want to, as if "some devs" had the power to change that).
556  Bitcoin / Bitcoin Discussion / Re: BitPico throwing down against Roger Ver on: September 16, 2018, 11:25:17 PM
I just found out these guys deleted all of their tweets and basically ragequited Mike Hernia style on Bitcoin, so the spam attack on Bcash never happened. Three possible scenarios:

1) They were paid by Roger Ver to ragequit. This made BCash dodge the bullet of being exposed, while using Bitpico's twitter clout to throw a bit more hate in "Bitcoin Core".
2) They were never going to do it. Since day one this was the planned outcome. Possibly bribed by Ver and co. They will come back as Bcash supporters (also compatible with 1))
3) They really did quit because the fucktards weren't able to sustain the bear market and got exposed as weak hands. They were counting on higher prices to fund the hashrate for the attack, miscalculated and ended up in loses not being able to do it, which made them ragequit.
557  Bitcoin / Bitcoin Discussion / Re: Hello BCH: 2.26 MB & we keep 1MB on: September 16, 2018, 11:15:59 PM
Congratulations... We can have huge blocks and our 0 confirm transaction system is not less secure because of segwit.

0 confirmations were NEVER secure, only an idiot would think otherwise.

The fact that you have huge blocks and the usage is even less than Dogecoin should really make you think twice. How can you not see that huge block space is a big target for anyone with enough funds to start a spam attack and clutter the network? (I mean, someone serious, unlike the Bitpico scammers)
558  Bitcoin / Bitcoin Discussion / Re: Stop being pessimistic. The potential of bitcoin is still immense! on: September 16, 2018, 10:59:08 PM
There's too many newbies on board yet. The hate for bitcoin must be real, we need to see all the casuals that entered in the last FOMO season out, because these guys aren't thinking rationally, they don't understand the fundamentals and they don't therefore understand the inherent value of bitcoin.

Of course bitcoin is insanely tiny compared to what it is and where it should be. I mean Jeff Bezos' fortune is bigger than bitcoin, how stupid one would need to be to not see how insanely undervalued bitcoin is? very, and these are exactly the type of people we need to see dumping. Once they are all out we'll go for a new all time high as the smart people that see these facts are waiting for that to happen to enter the market.
559  Bitcoin / Bitcoin Discussion / Re: Best methods for safely claiming "bounties"? on: September 16, 2018, 04:23:49 PM
That is what escrows are for. Im sure there are some efforts in trying to automate the classic role of the escrow by smart contracts and whatnot, but if you don't want to gamble with that since it may still be too early (and honestly I don't know how would you get rid of the human factor there) then just find a good escrow.

Escrows put their reputation at stake, so they have an incentive not to screw up, since if they do, they will lose money long term as future jobs as an escrow will stop happening as loss of reputation occurs due scamming clients, so it's better to be a good escrow and continue being legit to keep making money, so even if the guy had no morals, he would make more money being a good escrow in principle, that's the whole point.

560  Bitcoin / Development & Technical Discussion / Re: Blockchain based online portal on: September 14, 2018, 07:59:56 PM
You don't need blockchain in this case, another P2P method such as BitTorrent or IPFS protocol with encryption should work just fine. Besides, blockchain is inefficient for such things mainly due to potential spam and scaling problem (unless you don't care people should run full nodes at low cost).

Alternatively you could use Steemit and Filecoin which already exist rather than make another one or see this thread ( why blockchain is inefficient for such things

We have seen previous attempts older than any of these, the infamous freenet which worked in a decentralized way by encrypting the content of the webpages and putting them into the network participant's hard drives. Of course this meant that by using freenet you were hosting illegal content in your hard drive, that even in encrypted, made me too paranoid to use it so I never gave it a proper try. You would need to trust the encryption and I dont. And then you would also be ready to browse super slow and primitive looking webpages, not worth my time.
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