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941  Economy / Economics / Re: Market speculation caused the recent Bitcoin fall on: August 21, 2022, 02:01:20 PM
I think it's still the effects of:
Higher inflation
Higher interest rates
Less disposable income for the majority of people

Bitcoin has always been strongly driven by the speculators and as it's become larger, those speculators have changed into looking at more things around the market. There's still the case bitcoin probably feel in some ways because some people got bored of holding it (because it was going sideways or because there hasn't been much news on it).

Overall, I don't think we've yet broken away from the pattern the chart has been forming over tha past two months though (it's possible we could do but at the moment that looks to be quite a positive thing to take note of).
942  Other / Meta / Re: Does the forum need more merit sources? on: August 21, 2022, 01:41:51 AM
I don't think there's an issue with having too many merit sources (ever).

As long as established members want to be merit sources, they should be allowed to become them if their quality post detection is up to scratch imo. Merit sources on probation or additional airdrops for those who've used the majority of their smerit might be another way to go though too.

Ps. Bumping the merit source application isn't going to hurt Smiley.
943  Economy / Economics / Re: HSBC, Citigroup and the End of Global Banking on: August 21, 2022, 01:30:57 AM
There were reports at the last shareholders meeting their largest shareholder wanted HSBC to be split up into smaller parts and some of it to be sold off (I think) this could be a move towards that direction but I'm not sure how close he is to them (it made the news when it was mentioned at an annual shareholder meeting and might not have been privately discussed before).

A lot of digital banks have taken the place of traditional ones. Users here were surprised to see circle offering 4% interest on fiat investments for example too (the makers of usdc) and High Street banks barely offer much anymore and they're normally with added conditions.
944  Bitcoin / Bitcoin Discussion / Re: Bitcoin Transfer through Cell Phones Possible ? on: August 21, 2022, 01:22:29 AM
I have seen news of this making waves all over the internet, but I am a bit concerned as to how it is becoming easier for people's crypto to be swindled even without an internet connection.

I'd agree with this one, phones/texts are generally easy to attack afaik (especially without an Internet connection) and this might make an attacker try/succeed at targeting certain areas where this is used a lot to send funds to themselves (it might not be much they'd get away with but it could add up to quite a bit of they attack several people/a large town).

Correct me if I’m wrong but this kind of Bitcoin transaction is just like an IOU since it’s not recorded on blockchain. I’m not totally familiar on this kind of method but I preferred transaction being recorded on blockchain to be valid

It's probably a way crypto might be able to compete with banks though in some areas. You are handing over the custody of your crypto to a third party too which I think would be quite a drawback (you're still relying on their security as well as your phone's and your network's).
945  Economy / Speculation / Re: Indicator Hash Ribbon on Tradingview on: August 20, 2022, 02:12:53 PM
I just saw a thread about historic trends of this earlier that looked interesting: https://bitcointalk.org/index.php?topic=5410574.msg60787658#msg60787658

It had quite a lot of examples of where the ribbon worked in the past to.make predictions (it might be worth noting past performance doesn't guarentee future results of any indicator and trends stay only until they're invalidated).

946  Bitcoin / Development & Technical Discussion / Re: [Megathread] Bitcoin Layer 1 Privacy - concepts, ideas, research, discussion on: August 20, 2022, 10:45:43 AM
Quote
The main difference I noticed was grin being considered fairly weak for privacy as it hides historic information and transaction amounts but those can be gathered before a transaction is confirmed

This is quite wrong. An accurate overview of what Grin and Monero hide can be found at
https://forum.grin.mw/t/scalability-vs-privacy-chart
which also shows how scalable various blockchains are.

Is coinswaps available on grin now then (I just realised how old that link was too but it was the first result I got).

Without MWCS you can see addresses that get paid in the mempool, with MWCS (if it's implemented) you wouldn't be able to trace anything from what I can tell as long as mixing is done frequently enough which it would if it scaled to bitcoin's size.
947  Other / Beginners & Help / Re: What the pressure for success comes with on: August 20, 2022, 09:59:12 AM
it is harder to convince them participating in bear market.

Usually newcomers join in bull market.


You might get a lot of backlash if they join in a bull market though and don't pull out while in profit (at least with their initial investment). The newcomers that join during bull markets might leave fairly quickly once the bear season returns.

I joined mid bear market from learning about the technology which is probably a good way to get people (if they're already interested in things technology related).



To do well here and then transfer it to other areas you do need a lot of information and must have acquired most of it already. Altcoins aren't the worst investments when bitcoin's down but there is a new development over the next few months to be cautious off if you hold a lot of alts (eth 2.0).
948  Bitcoin / Development & Technical Discussion / Re: [Megathread] Bitcoin Layer 1 Privacy - concepts, ideas, research, discussion on: August 19, 2022, 09:43:46 PM
    • Grin
      • MimbleWimble: complete new protocol for confidential transactions and smaller transactions
      • Drawbacks: ... ?

    I was looking at a chart comparing grin and monero on the stackexchange yesterday. Link provided: https://monero.stackexchange.com/questions/11107/what-is-the-difference-between-monero-xmr-and-grin-grin

    From the top comment:
    The main difference I noticed was grin being considered fairly weak for privacy as it hides historic information and transaction amounts but those can be gathered before a transaction is confirmed (when it's broadcast and in the mempool - as I understand it - perhaps there's a way they'll come up with to obscure this further).

    I THINK I'd add an con of the grin community being new and grin coin being fairly new too - I think that's their biggest drawback so far (just the newness, nothing to do with the people).
    949  Economy / Trading Discussion / Re: Thread For Btc Daily Traders, get 70/80% accurate calls. Edit: Forex pairs added on: August 19, 2022, 04:45:48 PM
    I don't think I want to do a telegram thing, I won't have time for that.

    Maus might've meant there's telegram notifications for threads now (there was only email before).



    The market looks easier (for me) to technically trade at the moment (not sure if that's the same for everyone else though but it looks like a good time to restart a topic like this - forex/stocks and crypto seem to act very similar at the moment).
    950  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: What are the advantages that publishers of NFT games have? on: August 19, 2022, 11:02:18 AM
    Most nft games are based off a token that the developer may hold a preset amount of (this is normally their main profit source).

    Some games do charge for initial nft purchases to play games too but this isn't done on those sorts of centralised stores as they can be done in the game's marketplace - which allows people to leave the game too and sell their tokens.
    951  Economy / Trading Discussion / Re: Are candlestick patterns overrated? on: August 19, 2022, 09:45:18 AM
    Specially those advance candlestick patterns like rising soldiers and all that, I don't even remember anyone even mention them once while trading or in any tutorial.

    I think there's quite a few problems with candlestick patterns that make them harder to trade - one of the main ones being what timeframe should you use? Rising soldiers on a 45m chart might be more likely to become rising soldiers on a 1h chart before the price moves in the other direction.

    Most traders with successful strategies will take on information from charts and will rely on a lot of different indicators (and sometimes new ones) and candlesticks might be able to form an extra confirmation on their trade (I don't think candlesticks are profitible to trade alone because they seem to be smaller moves).
    952  Bitcoin / Wallet software / Re: multi account wallet for business on: August 19, 2022, 09:36:11 AM
    I'm not sure of the purpose of making an online wallet out of an online wallet as you've suggested. If you wanted to do extra work on it or host it yourself you could look at payment processors for crypto which would offer much better security (as long as you can learn how to handle that).

    I'd imagine blockchain, coinbase and quite a few others would have APIs to do as you've suggested but I don't know whether doing something like this would violate their terms of service or something.
    953  Economy / Gambling discussion / Re: More than 30% of an entire population of Georgia banned from gambling... on: August 18, 2022, 03:27:44 PM
    I do not understand why 30% of Georgians are banned from gambling, I will like to read the news in details, can you please include the link to the news?


    I don't have the link to that article but in 2014, the lower quartile of age in the UK  was 21 - meaning a quarter of the population is below the age of 21. I think that's probably a good chunk (most) of the people on this list if Georgia is the same or lower.
    954  Economy / Speculation / Re: Why there is so much resistance at $23k price on: August 17, 2022, 08:51:58 PM
    Imo the ath in 2017 was between $19k
    and $22k (it was different for different exchanges from what I remember).

    It looks to have also made the first resistance after breaking the power end of the ath as bitcoin consolidated around $22-24k. Aside from that, the main issue I can see is the $25k region as the bitstamp chart says we've already bounced away from there after being close to it.
    955  Bitcoin / Bitcoin Discussion / Re: Btc crime on: August 17, 2022, 03:29:35 PM
    A criminal using bitcoin as a means of laundering money does not make it a Bitcoin crime. Your title is wrong and misleading.
    Criminals have always had means to clean stolen money long before bitcoin was envisioned.

    This makes me wonder if crypto is easier to track than using fiat to move the funds around.

    If they withdrew cash and transported it via car from France to Israel, they'd only really risk being found at the initial withdraw step (and if they can hide their identity well for that bit, they probably wouldn't be recognised the rest of the way) - the money could then be laundered by more tried and tested measures to ensure it looks like they acquired it a legit way.
    956  Other / Meta / Re: Sending merit to merit worthy posts to team members. How would you look at it? on: August 17, 2022, 12:28:59 PM
    It probably depends on the post and its contribution to the forum.

    If you're consistently meriting similar users in the ann thread it'll probably be noticed and you might get called out/neg trusted for it - you also might not be a merit source after a while too (if you were one). If you merit their posts in other topics of the forum (unrelated to the project you're working on then it's fine) - even if you have a slight bias towards team members (as long as you're distributing your merits enough to other users too).
    957  Economy / Economics / Re: Expanded IRS free-file system one step closer in Dems’ bill on: August 17, 2022, 01:01:37 AM
    The tax laws of the UK are over 16000 pages long and yet those seem to be handled quite well by both the authorities and people.

    Employers may deal with filing tax returns for their workers - to an extent - but this is information the government already has afaik. A long criticism of the US has been this same transparency has been offered to their citizens but they're still expected to file their own tax returns too and make the figures match up to what the irs have.

    If the IRS expect it to cost so much to build a system of their own, why don't they just buy a company that can already do the accountancy and go from there (or get banks to do it since they'll have a lot of the information already too).
    958  Economy / Scam Accusations / Re: Massively fraudulent Escrow Transaction! on: August 17, 2022, 12:47:41 AM
    I can't find the change in the seclog but I'm wondering if that was because the account was a lower rank or something (I'm assuming it's scott2k you referred to in another thread).

    I think there should've been more oversight on negotiating terms before now from both sides but it may be weird OG didn't have a window (maybe a day) before releasing the funds after a confirmation from you (also was your only method of communication this forum)?

    I doubt they were in on it though and you could probably come to a solution by dmming them and waiting for a response.
    959  Alternate cryptocurrencies / Mining (Altcoins) / Re: Home Miner Group Buy / [G1 mini; Swiss Hosting] on: August 16, 2022, 09:45:47 PM
    As discussed, I'm interested in getting one hosted by you too (and perhaps some more if we see further group buys).

    I was beaten by 13 seconds!
    960  Other / Meta / Re: [SURVEY] Who thinks the Lemmings should also be removed as Merit Sources? on: August 16, 2022, 01:52:04 PM
    I feel that to be appointed a merit source one of the stipulations should be that you are at the very least a DT1 member. So, it would stand to reason that if you request to be removed as a DT1 member, then you are in effect relinquishing your right to have the roll of merit source assigned to you.
    Do the police hand out degrees?

    It took a lot of years for theymos to come up with the trust system we have now (and at least 3 s systems have been implemented already, 2 being trashed).

    A merit source is there to find posts that contribute effectively to the forum and actively read and take part in a large amount of discussion. A trusted member has built trust with other users (in most cases) which is an achievement but may come to the forum with different interests than that of a merit source.

    I would be keen to read @theymos' thoughts on this (and the overarching DT1 "issue" that is occurring in some quarters).

    Theymos' idea of the merit system is similar to that of the report to moderator system (I say that because it's easier to find the report to moderator quote): "Do not worry about your accuracy too much; one accurate report is worth many inaccurate reports." they had a similar rhetoric for the merit system when that was first out too.

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