Interesting. can you link where you got the "creating missed counts" counter-attack theory from? Or did you figure it out yourself?

I'm curious how many people at these Cefi places bought bitcoin specifically to get a higher interest rate. Like, how many people thought, hmmm, I can deposit my $10k in a bank CD and get 0.5%, or I can buy $10k worth of bitcoin, deposit it on cefi, and get, I don't know, 4 or 6 or 10%+ interest? In other words, how much of bitcoin's price rise came from this kind of (sort of artificial) demand?

On the other side, with fewer companies and coins available for re-hypothezation, that should reduce this (sort of artificial) selling pressure overall, shouldn't it?

"But all they have, and see with their own eyes to have, are numbers next to their addresses"

When you wrote this for some reason I thought you were referring to UTXO's when you wrote "addresses", and that you had taken a deeper dive into bitcoin than I thought. I wonder why my brain translated things this way. Maybe because you took the time to write so many words, I must have figured surely this person had taken a deep deep deep dive to write so much. Oh well, my bad.

You are correct, bitcoin as the native token is not mentioned.

Your post is amazing.

Almost everything you wrote is silly. Except somehow, some way, you understood what few people realize, that Nakamoto's system does nothing more than transfer integer numbers from one long string of letters/numbers (public address) to another. These integer numbers today are called Satoshis (in honor of), and the white paper does not mention the word bitcoin at all. The word "bitcoin" (when used used to represent the system's native token) is just a representation of an amount of satoshis, one bitcoin = 100.000.000 satoshis. You are correct in your assessment that all that is happening is that regular plain old integer numbers (satoshis) are being  rearranged.

How you were able to understand this, and not understand anything else about how bitcoin (the network) operates, or how the system's protocol works, or how it can be used as an electronic payment system, or the implications this could have to the future of finance in this world, or why it is accruing value over time, is just mind blowing.

I am sure at some point in time far in the future a bitcoin clone will fork with some inflation. Whether people follow the fork and the  almost certain lowering of value inflation would create is unknown. If transaction fees are too low to mine profitably, AND no one wants to mine the original  btc chain at a loss / voluntarily, AND those with a great financial interest in the main chain thriving don't want to subsidize mining at a loss as a cost of business, then maybe a majority will move over to the forked btc+inflation coin. Far. far far in the future though. But yeah, the chances of the current btc chain hard forking to include inflation is about as close to zero as it gets.

I have heard from several publicly available sources that once btc price gets past certain resistance levels that $10k+ daily candles will be a more common occurrence. If true, then yes, petty much any number seems possible. Still, since the only $10k day I can remember was Tesla announcing they bought (actually more like $8500), I guess I have to see these gargantuan candles first to believe it.

I swear the previous report cards were somewhere, but it's that darned boating accident I had earlier this year, I lost so much stuff that day.

Hmmm, I thought B- adoption grade was pretty fair. To me it means adoption (after 12 years) is above average, above expectation, with room to improve.

I'm pretty sure after 15 years (3 years from now), with lightning much more mainstream, middle class will become more fully btc engaged.

By "poor man", I was really thinking about how (in general) countries lower on the GDP per capita scale are adopting and promoting btc before those countries higher on the GDP per capita scale  (https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita).

Bitcoin class adoption has become the following at year 12:

- Poor man's currency

- Wealthy man's dangerously appealing new asset class

- Middle class man's not very much. Middle class in developed countries have way better medium of exchanges (or are at least viewed as such), and middle class in developed countries aren't going to pay $6,000 for 1/10th of something, or $600 for 1/100th of something.

Overall adoption grade: B-


Discuss.

You wrote "It also provides an immutable record of value transactions"

But when Satoshi, and the first few people on the network sent bitcoins to each other in 2009/2010, they had no monetary value.

If you are going to be an educator of bitcoin and write many articles, please explain how bitcoin went from being valueless, to being worth something, so we can understand (but writing someone gave someone else 10,000 btc for 2 pizzas is not a complete enough answer).

According to data.bitcoinity.org, in the last 30 days, around 16% of bitcoin volume has come from Bitfinex. Over the last 6 hours it's been 62% from bitfinex.

Wow!

If all bitcoin owners had the exact same amount of bitcoin, yesterdays monkey business wouldn't and couldn't have happened.

The more disproportionate the bitcoin distribution is, the funkier the things that can and will happen will be (in both directions). But that goes for any market, not just bitcoin.

Bitcoin is more susceptible because few understand it and panic more easily, and also because so many coins are off exchanges.

Didn't read every post, but anyway here is a list of BIP39 words that make up bitcoin's seed phrases. There are 2048 words on the list.

https://github.com/bitcoin/bips/blob/master/bip-0039/english.txt

Maybe if you had a 12 word phrase (from the BIP 39 wordlist) and you had to type them in once in a while, then looking through the list could jog your memory. Obviously the more words you can remember in the correct location, or the more words you can remember in any location, or  maybe the  letter that starts a word,  the better one of those services that help crack wallets can be in helping you recover.

If you had a 24 word seed and can't remember much then it's probably hopeless.

There is another Dutch cryptoservice provider called Bitonic that appears to be taking this issue to court.


https://bitonic.nl/en/news/220/bitonic-files-preliminary-injunction-to-be-relieved-of-wallet-verification-requirement


Don't know if Bitstamp is involved at all with this.

I saw this discussion between the bitstamp customer service rep, at the bitstamp reddit site, and a former user. Seems to sum things up prety well

https://www.reddit.com/r/Bitstamp/comments/ktmm1u/which_info_and_documents_are_required_for_full/


[–]Bitstamp-Lucas[🍰] 2 points 13 days ago
Our KYC procedures are in place so that we can provide a safe exchange platform to our users and also comply with our various regulatory obligations. I understand that it may be seen as an inconvenience, but it's done with the greater good of all our clients in mind. Having said that, you should still be able to withdraw your funds normally.


  [–]Twitxx 3 points 13 days ago
Inconvenience? You're straight up locking people out of their accounts because they can't provide things like trading history at other exchanges dating back 5 years, salary payslips, bank statements, investment portfolios, trading information/activity, proof of conversation with clients, proof of freelance activity, and that's on top of the basic kyc procedures such as the ones described by op. One of the best things I've done was to quit using bitstamp before all of this non-sense started going down. I have had issues with you before due to asking to re-confirm my address while I was out of the country, but all of this seems impossible to provide, not mentioning that all of this data you're gathering is just sitting duck, basically asking for a hack. Imagine losing all of your personal details to a data hack, just because the KYC procedure on some website wants to every single detail about your life. Yucks!

Corona time is the perfect time for Lightning Network to shine!

Stuck in front of the internets for weeks or maybe even months, I want to read articles sometimes. N.Y Times, Washington Post, Vulture, etc...they all want subscriptions to read a #$%^&*(@#^& news item. Come on come on come on!

I'll pay you your 3 cents or 5 cents or 7 cents for your damned article, just let me pay with lighting wallet, you news servers and servers of news.

Corona time is the time for lightning to to shine uber-brightly!

The lawmakers kids, or grandkids at latest, will undo whatever they're doing now anyway.
I suppose lawmakers could stop having kids....

You can download a mainnet (not testnet) desktop lightning wallet here (LND lightning labs) :

https://blog.lightning.engineering/announcement/2019/04/23/mainnet-app.html


Deposit a small amount of BTC you are comfortable with by pressing the small QR code on top left of main screen. (Note: You may have to wait longer than 6 confirmations initially as all the blocks and filters of the wallet  sync, so be patient.)

After the funds show up in the wallet, you should be aware that the default condition of the wallet is that a lightning channel will automatically be opened for you (small fee is taken). In other words, you don't have to do anything, just wait until the BTC has confirmed in the channel.

After that, you are ready to send lightning payments (it's more complicated to receive at first, but it can be done). YOU DON'T NEED A BITCOIN NODE RUNNING OR ANY TECHNICAL KNOWLEDGE.

Go to https://yalls.org/ and pay for an article to read there, or maybe Satoshi's place and add pixels to a picture there.  (Note: When you copy the invoice you want to pay, paste it into the wallet using the "edit" function at top left of wallet)

Seeing is believing!

I just want to make it clear here, that I do NOT have any bitcoin stuck in a lightning wallet.

The peach desktop lightning wallet from bitfury is currently able to receive and send my bitcoin with no problems.

I only started this thread because I wasn't able to control my bitcoin in the lightning wallet by transferring their seed to electrum. This thread has been a very useful resource in explaining why that happened and what needs to be done IF FOR SOME REASON TBD IN THE FUTURE, I would no longer have access to the Peach wallet.