To me, this is Powell's best statement with a little help from the ubiquitous AI of course

I agree, the two can't be compared for anything, whether it's about things related to Bitcoin or the way they treat life in general. After watching the documentary about John McAfee, I got a much broader picture of him, so even though I'm not a psychologist to draw conclusions about someone's mental health, I would dare to say that a lot of things were not right in his head.

On the other hand, Saylor is a successful businessman with no scandals (as far as I know), and the only bad label that can be attached to him is his tweet about how he thinks Bitcoin will fail, as well as online gambling, but that was before some 10 years.

As for the speculation about $5 million, that's news from 2021 and I don't know why someone decided to bring it back into the public's focus - but even though I don't think it's impossible, I would still put that price in the context of the time it would take to make something like that happen.

If I'm not mistaken, we are talking about a market cap in the amount of even $100 trillion, and for the sake of comparison, that would be as much as 10 companies the size of BlackRock. This is simply too much money to be realized in the near future and could only be realized if central banks start buying Bitcoin the same way they buy gold today.

When you see the source of the news, then you are not at all surprised that someone is even discussing it as something that should be questioned at all. Although we who do understand some things a little better understand why that 21 million is so important, we should also keep in mind that there are those who would very much like to see that number change to more for various reasons.

Some would want it because then the price would drop drastically and then they could probably buy one whole BTC and then they would wonder why the price would never go up again - some others want it just so that one of their crypto kings would ascend to the throne and to profit.

In fact, there are many so-called Bitcoins (forks) that have a much higher max supply, but there is no need to say how successful they were with these changes.

Maybe you went in the wrong direction from the beginning, which is that you went directly towards the children, and you bypassed their parents, who still take care of these children and behave protectively. If you take into account all the scandals that have passed through the media and in which Bitcoin is mentioned in the past few years, then maybe you can understand why parents react in such a way.

Of course, it is not Bitcoin's fault that someone is not capable of running his company or has dishonest intentions from the very beginning of a project, but the media you mentioned write what people want to read, and bad news sells far better than good news.

Politics and banks are only (still) fairly static observers who do not need to make any big moves, because the average person is already instrumentalized to such an extent that he does not easily (or at all) accept anything that deviates from established norms of socially responsible behavior.

It somehow seems to me that we have found ourselves in a situation where, with all the circumstances that we are aware of and probably some that we are not even aware of yet, the price will sink even more towards $20k as one (at least I hope) significant point of resistance. That doesn't have to be such bad news considering that the halving will happen in a little more than half a year, and speculations say that the chances for spot BTC ETF in the US are around 75% by the end of this year, and for the beginning of 2024 considering that then the deadline for the SEC to make a decision expires.

So this is just another opportunity to buy cheap before the bulls come back in full force.

Can you tell me what your question has to do with Economics?

I don't see why anyone would set a time in advance for when they will be on the forum, as if there is some kind of contract or rule that forces us to do so. I also don't see why my or anyone else's presence on the forum would prevent someone new from becoming a member of this same forum.

You obviously see this forum as some kind of task or maybe even a job, but those who have been there for a long time are still there for some other reason - maybe you will find out one day.

I don't have to think even once because I deleted my account on that platform, and all those who think that they will be blessed with something if they follow some celebrities sooner or later feel what it's like when naivety and ignorance come together.
 

Most people don't even understand Bitcoin, let alone what some call crypto, which is actually a real jungle where there are no rules. All these social networks, regardless of what they are called, are a real hacker's paradise. And when you go to the jungle, you have to prepare properly, most people go there as if they were going to a picnic by the lake.


Theoretically, he can wake up by signing a message from one of his early addresses and then request that his account be unblocked. His account was already hacked in 2011, but I'm not sure if the hacker sent any messages. But if by any chance Satoshi sends you a PM, definitely don't get confused and tell him that when he already has a million BTC why is he asking you for your seed


Look, if you know what you're doing, you can be on any platform and nothing will happen to you, no matter how many tempting offers you receive every day. It's true that a free lunch is something that you can rarely get these days, but a few years ago someone gave away a few BTC to various charities on the forum, so miracles do sometimes happen.

It is possible that it is a specific combination of your Android OS version and the Chrome mobile version that is causing this problem. I found one case with a possible solution ->

That man then has a double reason to be sorry for not remaining single in his life, because not only would he not have become a victim of his wife rummaging through drawers and throwing things in the trash, but he would also have more than those 8000 BTC if she hadn't objected to him because of computer noise

If nothing else, he will become an expert in waste disposal and its impact on the environment

It's not that I blame someone for having superficial knowledge about something, but considering that the person is speaking publicly and that the number of views of his video will be significant, those who watch it can get a completely wrong impression about why Bitcoin exists and why there are alternatives to it.

Of course, the most debate is about price and profit, we are all responsible for that in some way, but at least we can warn from time to time that Bitcoin has a completely different function, which some actually use.



No matter how much you make it easier for people to use Bitcoin or any other cryptocurrency, it still does not have the effect of changing the way people pay for goods and services. Volatility is the biggest problem for many, but even with payment processors, people have a hard time deciding to spend their cryptocurrencies, because tomorrow or in a month they may be worth much more.

Unfortunately, the freedom of the internet and the possibility for everyone to create their own cryptocurrency or token has its downsides, and scammers take advantage of this. When there is a call for more regulation in that sector, people usually protest because they consider it a restriction of their freedoms, but at the same time when some scammer pulls off a fraud of several billion dollars, they point the finger at the same regulators and demand that they do something.

I don't see how it will be possible to keep the same freedoms and at the same time prevent all bad people from doing bad things - all the warnings coming from all sides simply do not meet the understanding of all those naive millions who just want their chance to succeed.

At first I was skeptical when I went to watch the video because the first thing I noticed was a reff. link to a well-known VPN in the description, but I admit that there are some interesting things in the video. We often come across terms like Web3 and Web 3.0, but until now I didn't know that it was something different, that is, that the goal is quite similar, but the ways to achieve those goals are different.

When it comes to Bitcoin, the speaker intentionally (or out of ignorance) puts Bitcoin in the same basket with altcoins, that is, she thinks that all cryptocurrencies are only for trading and making profit, completely ignoring the reason why Satoshi invented Bitcoin.

As for the rest, she talks about everything, from NTFs, dapps, DAO, which she compared to communism, and a lot of other things that seem like a bunch of nonsense connected in one sequence, but I think it's too superficially explained for anyone who doesn't have at least some prior knowledge in order to make an objective conclusion.

I think it is quite logical that the web develops and goes in a new direction where it tries to achieve some new goals in order to satisfy what people are looking for in the 21st century. In all of this, there will be complete failures, countless scams and failed ideas, but also things that will undoubtedly change our lives.

For many who encounter this form of backup for the first time, those words often seem like something that is quite easy to guess, especially if it is a seed that contains "only" 12 words. However, the seed is only a simplified representation of something much more complicated, which is still impossible to break with today's technology.

Although technology is advancing unstoppably, one estimate says that it would take more than 19 million years to crack 24 words seed. As things stand for now, we are pretty much covered, at least in that regard

Honestly, I've seen too many projects like this to be particularly impressed, but at least the whole project was started by someone who knows something about all this, so I hope the project won't shut down in a month or two.

Like others, I also noticed that the page loads very slowly through VPN, and that it is impossible to load it on TOR. This is something that should be resolved because those who value privacy will not be able to access the site, or it will be quite difficult for them.

As for the content, I personally have no interest in altcoins, so it would be good to separate the news related to Bitcoins for those who are exclusively interested in that. And yes, the domain name is not the best choice because it definitely has connotations with the biggest spam on the forum, which in turn is connected to that spam forum.

The story about this character keeps coming back like the most persistent boomerang, so I wonder if maybe we should even open a special board for him? Of course I'm not serious

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Do you really think his potential lawsuit could hurt Bitcoin in any way? I really don't see what would be bad for Bitcoin if someone files a lawsuit against the city authorities because they don't allow him to dig through tens or hundreds of tons of garbage and thus cause an environmental disaster for the people who live near the garbage dump?


Probably so, but there is still a chance that that small piece of data that is the most important in the whole story could be saved. I think he would have given up already, but some experts think that something could be done with that hard disk in case it is found.


The information that he threw the HDD in the trash is incorrect, his partner did it, so for years everyone has been blaming poor James for something he didn't actually do.

If your goal was just to have say 1 BTC and you finally achieved it or are getting close to it, the question that arises is whether you did all that just to get to that number, or do you think that keeping your value in Bitcoin is better than in your local currency? If the answer is the latter, then you will continue with DCA according to your capabilities, even without setting yourself a new goal, although it is never bad to motivate yourself.

I think the decision is up to you, but whatever you decide, you can hardly go wrong because it seems to me that you are going in the right direction

If something is outdated, it doesn't mean that it still doesn't serve its purpose, and if something bothers you so much that it stings your eyes, then simply ignore that board and you won't see it at all.

As for the award, someone can always nominate you for rookie of the year, and maybe in the future there will be a special badge for that achievement

I think @mk4 is referring to an old story in which the consumption of electricity in the context of Christmas lights in the US was mentioned again in relation to the total consumption of electricity in some other countries in a period of 1 year. In other words, more energy is spent on Christmas lights in the US than a country like El Salvador spends for the whole year.

In addition, it was calculated that all electrical devices in the US consume more energy only in standby mode than Bitcoin consumes for a whole year.

Bitcoin Mining Wasteful? Christmas Lights Use More Energy Than Some Countries


A lot of energy in relation to who or what? A new report says that energy consumption has fallen even more compared to last year, which means that mining devices are becoming more efficient. If you take into account that at least 50% of the energy that miners use comes from renewable sources and that the annual losses in the electrical grid are as much as 50 000 TWh, then can we translate a number between 100 and 150 TWh as "a lot of energy"?

I wasn't thinking about that topic, but about the main topic about El Salvador, which is also in the Bitcoin discussion, and someone there already published this news -> https://bitcointalk.org/index.php?topic=5342087.msg62812210#msg62812210

It is always good to search the forum (even visually) and not open new threads if there is already a discussion on the same topic. Of course, each topic should be in the appropriate board.

I think a lot of confusion has arisen about how strong a passphrase should be to protect someone's seed in case someone comes into physical possession and tries to extract the seed. What someone wanted to emphasize is that a passphrase of at least 37 random characters would provide the same level of protection as the seed itself (24 words) and is practically impossible to brute force, but that does not mean that 10+ characters are not resistant to brute force.

We can always check how long it actually takes to brute force a password on sites like https://www.passwordmonster.com

Only 9 characters in this password makes it virtually impossible to brute force ->




Ledger does not have the problems that Trezor has, but if we take into account that a few years ago almost the entire database of users with all the data was hacked, and that a few months ago they announced the revolutionary "seed recovery" service, they shot themselves in the knee by giving the possibility at all to one such device shares the user's seed with as many as three different companies.

Of course, the service is optional and you pay $9.99 per month, but when someone does something completely contrary to what they have been advocating for years, I wonder how to trust such a company.


As I already wrote, I think that the passphrase I mentioned above is more than enough if we take into account today's computers and the time it would take for someone to brute force such a password. Of course, the whole thing doesn't matter at all if someone who knows what he's doing doesn't get hold of our hardware wallet.

Speaking of how to take care of our hardware devices, I always remember an interesting film on that very topic - it's worth watching if you haven't seen it already.

https://www.youtube.com/watch?v=hf97ofTlZhk (Schloss Bitcoin (2020) - deutscher Kurzfilm - Crime Black Comedy Subtitles in English, French & more)

There is no doubt about that, but the law is like that at the moment, and when you are not in a position to change the law, you have to adapt in one way or another.


In fact, there is a way and it's completely legal, and the law says that you can sell cryptocurrency in the amount of EUR 1000 per transaction without KYC, and there are dozens of physical branches where you can do it. Of course, all this makes sense for smaller amounts, while the question of the origin of the property can always be raised if your legal earnings do not match the value of the property.

In other words, I can sell more than EUR 5000 worth of cryptocurrencies every day, completely legally without KYC, and buy, for example, a house after a month - the problem arises if someone reports me (which can be anonymous), and then I have the problem of proving where the money came from.