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441  Bitcoin / Bitcoin Discussion / Re: LastPass hack - move your crypto assets to a more secure place right now! on: October 31, 2023, 05:12:06 PM
This is sad but whoever stores their crypto backups / seeds / passwords to wallets etc in an ONLINE password manage totally misunderstood tthe self-custody aspect of crypto / Bitcoin.
I still believe password managers do have some value - for throwaway logins or stuff that is just very convenient to access via some basic account. Anythign related to your identity or any real value does not belong there however.

Also, I do believe there are hardware solutions - didn't Trezor have a built-in password manager? Not sure if they continued this service, though

I believe that not all of these people had their seeds in LastPass. Some of them might have their exchange and email logins and passwords. This allowed the attackers to access their exchange accounts and withdraw money.
Currently people are holding cryptocurrencies on lending and staking platforms as well and it's enough to have access to email account to reset password on these sites and withdraw funds, since the confirmation often comes to that same email.

Also, don't underestimate people. They still fall victim to emails sent by Nigerian princes and send money to new investment platforms promoted by Elon Musk and Jeff Bezos Wink
442  Bitcoin / Bitcoin Discussion / Re: How to value bitcoin and cryptocurrencies? on: October 30, 2023, 09:33:14 PM
Market Cap = Current Price x Circulating Supply

Price = Marketcap divided by Circulating supply.

If people buy more bitcoin, the market will increase, which is proportional to the price. Which means as people buy more bitcoin than selling it, the price will increase.

There's also mining difficulty, total hash power and indicators used to determine what the average price of newly mined bitcoin is. The price of coins mined at different points in time create something that we could call price floor at that time. It's a similar indicator trader use to know how many holders are at a loss. The more people at profit the more above the average transactional price bitcoin is, which allows us to estimate its value.
443  Bitcoin / Legal / Re: Error or scam with Bitcoin ETF news? on: October 29, 2023, 08:43:59 PM
It's like with everything in the Internet.
People want freedom of information, no censorship, but they demand action when they fall for fake news and scams.

You should all learn to filter information and to think before you act on them.
Bitcoin allows you to send money anywhere almost instantly, without any censorship or restrictions.
You want to finance a sect, you can. You want to pay a prostitute, you can. You want to help a terrorist organization, you can.
There's a catch though. All transactions are irreversible.

Someone tells you they're your grandpa George who lost his money and is stuck on vacation in Africa and you believe him and send him some bitcoin, you're a sucker. No returns!
Someone tells you to buy their shitcoin and you turn your bitcoin into Luna or some other worthless crap, you're a sucker.

That said, people who bought bitcoin when they heard that fake news did well, unless they had a levered short at 31k Wink
444  Bitcoin / Bitcoin Discussion / Re: What would happen if there was only one cryptocurrency, which is Bitcoin? on: October 29, 2023, 08:28:47 PM
Since I'm a bitcoin maxi, I'd say that there would be more positive than negative things happening.

Of course there's always that rare positive feature when someone hears about an altcoin, tries to invest, gets burned (or not) and learns about bitcoin in the process. Later these people become bitcoiners and abandon shitcoins of their own free will. Even if this happens to 1% of shitcoin investors, this can outweigh the negative aspects of the existence of these shitcoins.
445  Economy / Gambling discussion / Re: Spirituality and Betting - Do they Have any Connection? on: October 27, 2023, 04:45:33 PM
From the picture above, we can tell that the person who did this is a gambler, and he or she is also a Christian who probably believes God can actually help him or her win big in betting, so the different Bible apps which he or she put around the sportybet app in the middle mean two things for me.

And here's my interpretation.

The person who did this wanted to surround his betting icon with a bunch of other stuff and when he feels an urge to gamble he closes his eyes and taps on the screen.
If the bible opens it means God intervened and he's not supposed to gamble on that day.
If the sportsbook opens, again God intervened and he's allowed to make a bet.

It doesn't mean he ever reads the bible, you know. Wink
446  Economy / Gambling discussion / Re: He Used Our Wedding Savings to Play Bet on: October 27, 2023, 04:20:12 PM
Oh what was the man thinking when he did that! He has left such a lady heart broken.

She said that in the text. He thought he could double it. I understand him and you will to if you think about it.

Imagine you're poor and you don't have a lot of savings. Then as a couple you open a savings account to get some money for the wedding. Your partner has more savings than you and contributes more to the account. On top of that some members of your both families chip in.
Suddenly you have access to an account that has 10 times more money in it than you ever had.
You think that if you could win a 50% bet you'd double it and the whole family would think you contributed as much as all of them together.
Your partner would be happy, your family would be happy, you'd be happy and they'd all be proud of you.
Dreaming like that you bet the money and lose it all.
Suddenly your dream turns into a nightmare.


447  Economy / Gambling discussion / Re: "Mattress Mack" loses nearly 10 million dollars on Astros Loss on: October 27, 2023, 04:04:51 PM
He's just a high roller and the article makes a big deal out of his loss for no reason.
Yes' losing 10 million might look like a big deal if you take it out of context.
What if I told you that the person who lost that 10million was the king of Saudi Arabia?
10 million might be a big deal but to someone like this guy who constantly bets a lot of money and wins a lot too it's just another day.
448  Economy / Speculation / Re: Buying at 35k? on: October 27, 2023, 02:37:05 PM
Let me ask you this, OP.
What if you bought at 30k in 2021, then at 40k. Would that make you feel uncomfortable? It probably would since at the time it was the highest price ever recorded, but it wouldn't change a fact that a few months later it was at 68k.
Now this isn't the highest price recorded, but people still have this fear of buying.

Every single price point could theoretically be the highest and the last opportunity to both buy or sell bitcoin. How you proceed from here should depend on your confidence in bitcoin and many other things like how much fiat money you have on the side. If I had 10 million lying around, I'd be buying at any price point. If I had only 1k in fiat fiat and 1 bitcoin, I wouldn't spend my last money to buy more bitcoin.
449  Bitcoin / Bitcoin Discussion / Re: Maybe I should have taken this risk earlier. on: October 26, 2023, 06:42:46 PM
It's amazing that so many people wake up right now, when bitcoin finally crossed 30k and so many were silent when it was going below 20k.
People are always late for the party and you can tell them all day how bitcoin is undervalued below 20k, but they won't listen all that matters to them is that there's more red on the charts, which must mean more red is coming. Now there's a lot of green, so a lot of green must be coming Cheesy

If you had money in the bank and no bitcoin, the right thing to do was to get at least some exposure and you could do that by allocating 10-20% of your money to bitcoin.
Do what you feel is right, but I'll always tell this to people who ask me if they should buy:
Do you own bitcoin? If not, get some ASAP. If you do, decide if you want more or not, but if you don't have any, get some. It's a must, even if all you can do is 1% of your net worth.
450  Other / Politics & Society / Re: The rate of divorce in the society on: October 26, 2023, 06:22:11 PM
I'd attribute this to the degradation of morality. 50 years ago you did not have social media that screamed "be a strong independent woman and show that you can have a lot of men" at girls and "all women are whores and gold diggers" at men. So, many young people look for open relationships and assume the partner is going to cheat, so they don't even try to be faithful, which leads to them cheating...

I know some people that stay together for many years, me included, but me and my wife came from broken families, so we were really afraid of ending up like our parents and proceeded very slow in our own relationship. We respect each other and this is very important.
451  Bitcoin / Bitcoin Discussion / Re: What is the most weird thing you bought with crypto? on: October 26, 2023, 06:02:38 PM
I bought computer games. Back in the day you could get a Humble Bundle subscription for bitcoin that allowed you to get a lot of games on Steam for very little money.
I also bought myself a lot of Amazon gift cards and using that got our whole kitchen equipped with appliances. My wife was especially happy with the coffee machine Wink
452  Bitcoin / Bitcoin Discussion / Re: UK passes bill to enable authorities to seize Bitcoin used for crime on: October 26, 2023, 05:44:45 PM
So it's like robbery, then. They just take your coins and pin you with no crime whatsoever, as long as they believe that you are related--or at least your coins are--to any illicit activity. Sounds super convenient to them.

Yes, taking your belongings without conviction is stealing. It used to be that a court has to allow the authorities to take your personal property, but then the law slowly became filled with annotations and revisions because what if you're using that property for a crime, or it could be used as proof.
In most countries if you hit someone with your car and that person dies on the scene, your car will be taken away without a court order. It's the same situation as if you get caught carrying a firearm without a permit.

Now they're trying to include money and broadening the definition to allow them to take it remotely. So now you don't have to be caught in the act, it's enough for someone to point a finger at you and your money is gone.

I don't blame the government though. If you had the power to create laws, wouldn't you make them so that they grant you more power?
453  Economy / Gambling discussion / Re: Just like visiting a cinema on: October 25, 2023, 06:50:08 PM
In cinema, you won't expect to lose but want to achieve advances to your new girlfriend while in gambling you are expecting to win some money. But if you are losing a substantial amount already, it's gonna be hard for you to have fun playing in a casino.

The only way I can see this to possibly continue enjoying your day is to stop before you lose more. Because when you are not enjoying anymore and you could be agitated already by the loss you made, you may not be able to play well.

So you only go to cinema with new girlfriends? I sometimes go with friends simply to watch the movie. We meet up so that we can grab a beer after and discuss the movie.

Cinema is a little different but OP wants to draw your attention to paying for entertainment.
Maybe going to an amusement park would be a better example?
You decide to spend 2 hours there. You pay for a number of rides and get out. It's possible to lose $100 in 2 hours with ease. Why is it so different to going from table to table and playing roulette or blackjack, losing the same $100 in the process?

We're only disappointed because we have high expectations, just like people who invest in bitcoin. They buy a bitcoin for $100k and start thinking of that new house they're going to buy when it goes up 300% in the bull market. Then it goes down 10% and they panic sell.
454  Bitcoin / Bitcoin Discussion / Re: Will you leave the country or will you stay, stand up and fight for your right? on: October 25, 2023, 06:37:06 PM
First of all, I highly doubt this is going to pass. There are so many bitcoin supporters in the US Senate that it doesn't stand a chance, just like many other anti bitcoin acts that democrats tried to push in the recent years. I also doubt that the next president is going to be a democrat. Most of them are crazy socialists that say they support freedom and democracy but then lock people in their homes and want to inject them with untested medicine against their will, ban cash and make all of them use digital dollar.

I don't live in the US but if this was enforced I'm sure there would be states that would not agree to it, just like there were states that voted for the right to mine bitcoin and against the ban that democrats supported. I wouldn't have to leave the US, I'd simply move to a state that still stands by principles the US was founded on.
455  Other / Politics & Society / Re: The common saying Health is wealth on: October 25, 2023, 06:27:38 PM
It's a common theme among bitcoiners that we should stay healthy physically and mentally.
I've met with a number of people who hold bitcoin and they eat well, work out and are well organized.
Holding bitcoin is not something you get into for a year and then get out and forget about.
You want to live long to enjoy the fruit of your work, am I right? Smiley

I moved to a small town to live far from the noise and pollution and I enjoy it. I can take a walk in the woods whenever I want and not meet a single human for hours.
I recommend you to go somewhere clean if you can, somewhere that's natural. Life is too short to live it in a concrete block where you wake up to the noise of police sirens or your neighbors arguing.
456  Bitcoin / Bitcoin Discussion / Re: ETF $IBTC REMOVED IN DTCC WEBSITE!! MANIPULATION COMING OUT? on: October 24, 2023, 06:49:07 PM
JUST IN: The ticker for BlackRock's spot #Bitcoin    ETF, $IBTC, has just been removed from the DTCC website.

This explains why the pump seems to have been ended for now, but it doesn't explain why it's not dropping fast back to under 30k.
So it may be something more. I'd wait a little before drawing any conclusions. Clearly, the expectations seem to very high atm, so a short cool down is not that bad.

They could be testing the ticker.
The fact they have it ready and waiting tells a lot about the state of this ETF.

I also don't believe all this money that came to Bitcoin in the last few weeks is from normal people. It's big companies and funds buying.
Your every day bitcoin trader doesn't have the money to do something like this. We're talking about thousands of bitcoin bought in just one day. When did you last see such volumes? They weren't this big when bitcoin was dropping from 25k to 25k.
457  Other / Politics & Society / Re: Israel is scary on: October 24, 2023, 06:37:51 PM
Here is answer to your thread - Israel nuclear weapons - https://en.wikipedia.org/wiki/Nuclear_weapons_and_Israel

"with French co-operation, secretly began building the Negev Nuclear Research Center,[d] a facility near Dimona housing a nuclear reactor and reprocessing plant in the late 1950s."

The same France that secretly sold weapons to Russia after the trade ban, when the whole EU wasn't even supplying Russia with items of basic need.

France admitted to selling weapons to Russia and claimed that they had a deal from before the war... So, you allow your neighbor to get fruits and vegetables from your garden, but now you see that he's not eating those, but instead throws them at random people passing by his fence. The people see that vegetables come from your garden and ask you to stop supplying him, but you refuse because you had a deal from before. Cheesy

If Israel used nukes, the rest of the world would of course condemn it, so Jews must be scared Wink
458  Other / Politics & Society / Re: Government job or private job? on: October 24, 2023, 06:24:39 PM
Government job is good when you're don't want to learn anything because it's a secure place and the probability you might get kicked is almost zero except you broke the laws.

I'd say that government job is when someone recommends you.
In my town, only people with connections get government jobs. It's especially popular among young people with no experience.

I had a friend whose brother worked for the government and the moment my friend finished his studies he got a job in the same department that his brother had worked.
They will want this because you don't have to know anything or do anything. You're given something that you have to rewrite, print out and put in an envelope and that's your job for the day.
459  Bitcoin / Bitcoin Discussion / Re: The PATRIOT Act comes to cryptocurrency on: October 23, 2023, 07:35:33 PM
I don't use centralized exchanges. Haven't done so for the last 5+ year. Fortunately you can still exchange EUR 1k per transaction with no KYC here. Used to be 10k, now it's 1k, so the noose is tightening, but it's going to be very hard for them to lower this limit, as this would have to come with fiat currency withdrawal limits at ATMs and all that.
Anyway, the system can be "cheated" as the limits aren't per day, but per transaction, so it only makes things annoying, but not impossible to accomplish Wink

As for the US, they're obviously trying to attack bitcoin by making the public think that it's used by terrorists, and since there's a war in Palestine and Palestinians are being labeled as terrorists, it all makes sense. There's always going to be the right side of the conflict. The side that pays more, that can offer more if it wins, and so on.
This is just a proposal and there were many similar proposals in the past that did not get approved, so time will tell how this goes.
460  Economy / Gambling discussion / Re: I think gambling is inbuilt, kids don't learn it anywhere, they do it! on: October 23, 2023, 07:23:26 PM
I agree with OP in a way. People do gamble with or without it being advertised.
That said, the less gambling there is in the media, the better. At least we won't be responsible for indirectly telling people to gamble.
I have nothing against gambling, but I wouldn't tell my child to go gamble. Allowing ads is like telling someone to do something, because that's how they're constructed.
"Buy our product, eat this, wash clothes with that, drive this, you know you want it!"

Having gambling advertisements everywhere and connected to popular faces or brands or sports legitimizes gambling subconsciously. It makes it socially acceptable.

Isn't it socially acceptable? I haven't seen gambling being attacked, or deemed unacceptable. To be honest, people treat unemployed people worse than they tread employed gamblers, at least where I live.
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