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961  Local / 中文 (Chinese) / Re: 1t414fNVf76rzyzgUswh5vXVzUeUYFJcC on: October 12, 2021, 06:38:23 AM
Google Translate:
Quote
Is this an address or an account? The bad guy used a bunch of this to defraud me of the money, but I understand by myself that it has nothing to do with the currency, and at the same time the key exists with this address, and I downloaded the wallet and opened the address and found that it was not Nothing, is this valuable?

1t414fNVf76rzyzgUswh5vXVzUeUYFJcC is an address. It has never held any coins: https://www.blockchain.com/btc/address/1t414fNVf76rzyzgUswh5vXVzUeUYFJcC
962  Alternate cryptocurrencies / Altcoin Discussion / Re: which variables make my coin unique? on: October 11, 2021, 12:07:23 AM
I have a question. I am forking bitcoin to create my own altcoin. I was wondering, which variables make my coin unique? In other words, what are the factors that make a bitcoin a bitcoin and a dogecoin a dogecoin? Why can't we transfer money to each other? Because of different Genesis blocks? Ports? File names? Nodes?

Ultimately, the genesis block and the consensus rules together are what make a coin unique, but coins with different rules can share a genesis block and be unique (BTC and BCH, for example).
963  Bitcoin / Bitcoin Discussion / Re: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 on: October 10, 2021, 07:13:57 PM
I don't understand why he is talking about the forced imposition of bitcoin as a means of payment or is the incentive to use it through discounts a compulsion?

The law specifies that Bitcoin must be accepted for payments by anyone that is capable.
964  Bitcoin / Bitcoin Discussion / Re: What if all the money in the world entered the cryptocurrency market? on: October 10, 2021, 07:08:31 PM
if it happened that all the money in the world went into the crypto market, in my personal opinion, this would be a problem for bitcoin, because there is no more freedom, what is certain is that if it did happen, it would definitely be controlled by the rich, and those who have power, so my movement as a middle class person will find it difficult to compete with people who have power, and have wealth, I think this is a bad idea..

When Bitcoin is widely adopted, then whales will have less control over the value because they will own a much smaller portion and nobody will have control over the payment system like they do now.

If all the money into the world entered the cryptocurrencies I do think that would be extremely unstable.

The value of a widely adopted bitcoin would be no less stable than any other currency.

Although it's only an if situation because we know that it will never happen because there are other investment assets that will remain to be a high option for most investors.

As Bitcoin is widely adopted, its price will stabilize, and it will be no more investable than any other currency.
965  Bitcoin / Bitcoin Discussion / Re: What if all the money in the world entered the cryptocurrency market? on: October 10, 2021, 06:51:31 PM
After Satoshi announced the release of Bitcoin v0.1, Hal Finney replied, citing amongst other things the following:
Quote
<…>
As an amusing thought experiment, imagine that Bitcoin is successful and becomes the dominant payment system in use throughout the world.  Then the total value of the currency should be equal to the total value of all the wealth in the world.

Unfortunately, his thinking was flawed. The total value of the currency should be equal to the total value of all the money in the world. Money is only a small portion of wealth, as you noted.
966  Bitcoin / Bitcoin Discussion / Re: What if all the money in the world entered the cryptocurrency market? on: October 10, 2021, 11:36:43 AM
I don't understand why people ask questions like this when it should be clear to everyone that something like this will never be possible.

It certainly is possible, but it is not likely. If people believe that Bitcoin is the best form of money then they will use it instead of fiat. If everyone switches to Bitcoin, then it will replace all other currencies.
967  Bitcoin / Bitcoin Discussion / Re: Bitcoin ETF approved for Largest holders in US on: October 09, 2021, 12:40:20 AM
TL;DR: The Volt Crypto Industry Revolution and Tech ETF (Ticker: BTCR) holds shares of U.S. companies with large Bitcoin holdings. It was recently approved by the SEC.
968  Bitcoin / Bitcoin Discussion / Re: What if all the money in the world entered the cryptocurrency market? on: October 09, 2021, 12:32:01 AM
If all of the base money in the world ($29 trillion) is replaced by Bitcoin, then a bitcoin will be worth about $1.4 million in today's dollars.

However, we haven't seen the full inflationary effects of the recent massive increase in global base money, so I think the value is probably closer to $400k.

There are good reasons for only comparing base money, rather than M1, M2, M3, etc., primarily that fractional reserve banking with Bitcoin is a reality.

This is a good analysis: https://cryptovoices.com/basemoney/
969  Bitcoin / Legal / Re: U.S. Sentencing Commission and Bitcoin on: October 07, 2021, 11:27:31 PM
The glossary is surprisingly good. The only real errors I can find are where it says that a satoshi is 1 millionth of a bitcoin and in the description of Silk Road.
970  Other / Off-topic / Re: how to deal with Inflammation on: October 04, 2021, 07:45:59 AM
Can you suggest me some techniques you use for dealing with Inflammation?


Aspirin, also known as acetylsalicylic acid
971  Bitcoin / Bitcoin Discussion / Re: About Taproot on: October 01, 2021, 11:11:53 PM
Taproot primarily allows for smaller and more private transactions, as well as a different signature scheme. There is no major extension of smart contract capabilities beyond that. I don't think that it enables anything new that isn't already possible.

Here is an explanation of the major features in Taproot: https://www.nicehash.com/blog/post/what-is-the-taproot-bitcoin-update
972  Bitcoin / Development & Technical Discussion / Re: Encrypt the PSBT file on: September 27, 2021, 11:58:10 PM
Is there something about the structure of a PSBT that would benefit more from including encryption in the protocol over encrypting the PSBT in a transmission layer?
973  Bitcoin / Bitcoin Discussion / Re: Crypto derivative instruments on: September 27, 2021, 11:46:32 PM
A derivative is much more than just an asset that emulates the price movement of another.

Regardless, Bitcoin has a very limited ability to implement wrapped tokens and derivatives on-chain, but it should be possible to develop side chains with those features.
974  Bitcoin / Bitcoin Discussion / Re: Bitcoin(Cryptocurrencies) is a social movement? on: September 27, 2021, 11:27:15 PM
I think that Bitcoin can be described as a social movement. People are interested in Bitcoin for many reasons, but the core motivation for Bitcoin is the improvement of society. Anyone that thinks "Bitcoin helps me" should realize that "Bitcoin helps us", and then ultimately that "Bitcoin helps all of us."

I don't think all Bitcoiners are actively trying to make Bitcoin the dominant currency, most Bitcoiners are just holding it to reap profit.

I agree that most people in the cryptocurrency space are just speculators, but the social movement must advance in order for these speculators to achieve their goals.

So as a result, even the speculators are promoting the social movement (which why I think there is some justification to describing Bitcoin as a pyramid scheme).
975  Bitcoin / Bitcoin Technical Support / Re: Is it possible to cancel a transaction with false RBF? on: September 26, 2021, 10:38:03 PM
Sorry for being the Nth person to answer the question.

Miners and nodes are not required to honor the RBF flag, but it is assumed that most do. Furthermore, if the second transaction is broadcast very soon after the first, the second transaction might be received by some miners first, giving the second transaction a chance to be confirmed instead of the first.

So, attempting to spend the inputs of an existing unconfirmed transaction with RBF disabled by paying higher fees or using CPFP is normally unlikely to succeed, but it is not impossible.
976  Bitcoin / Development & Technical Discussion / Re: Important Bitcoin Improvement Proposal (BIP) with a $100 USD bounty (7 Days) on: September 26, 2021, 09:14:12 PM
You should make it a Bitcoin Improvement Proposal (BIP) that has the likelihood of being accepted by the Bitcoin Core development community.

Regardless of my opinion on the subject, the bounty is uncollectable because any such proposal would never be accepted.

Note that it was pointed out several years ago in your previous thread that a lottery can already be implemented:

Something like what is discussed here:
https://en.bitcoin.it/wiki/Contracts#Example_8:_Multi-party_decentralised_lotteries
and
http://eprint.iacr.org/2013/784

e.g.
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As an instantiation of this idea we construct protocols for secure multiparty lotteries using the Bitcoin currency, without relying on a trusted authority. By “lottery” we mean a protocol in which a group of parties initially invests some money, and at the end one of them, chosen randomly, gets all the invested money (called the pot). Our protocols can work in purely peer-to-peer environment, and can be executed between players that are anonymous and do not trust each other. Our constructions come with a very strong security guarantee: no matter how the dishonest parties behave, the honest parties will never get cheated. More precisely, each honest party can be sure that, once the game starts, it will always terminate and will be fair.
977  Bitcoin / Development & Technical Discussion / Re: Energy saving idea I just had on: September 26, 2021, 08:13:12 PM
Quote
3. Then m2 will know b1_r and makes an equal-work-check: b1_r_h == h(b1_r + 1).
Right?

Quote
Assumption: In 'normal BTC' blocks next to each other are not likely to be mined by the same party in game theory.
I think that is a bad assumption because it is actually a common occurrence, and also because your scheme would promote selfish mining -- the miner producing a block has an advantage that depends on the value of N.

I will admit, technically I dont understand what you propose. (details)
But questions is, what problem are you trying to solve?
energy? You cant save energy when it is proof of work.
But you can try to do something like the other proof schemes and puzzles which try to be bound by memory size and the like. My proposal is quite the same, but is based on password hashing and trying to stop the chain.
You are making a change, which will not make ANY difference. Right?

I believe it would make a difference. The physical work is power over time. For the time where the additional input to the block is unknown, the usual proof work cannot be done. So energy is saved.

Perhaps I don't understand something, but I agree with Meitzi. According to the design of Bitcoin's PoW, the average cost of mining a block approaches the average value of the block reward. That is why more a efficient hardware (in terms of J/hash) does not change energy consumption. How does your scheme change this design?

978  Alternate cryptocurrencies / Altcoin Discussion / Re: Programming Languages for Crypto, which is the best? on: September 26, 2021, 07:01:46 PM
That is a common question asked by programming newbies. The answer is always the same:

There is no best language for any technology.

Like any technology, Bitcoin development encompasses a variety of applications, and each one has different requirements. No language would be suitable for every application, so there is no best language.

Bitcoin Core is C++, but there are other Bitcoin node projects in other languages. Either way, the fact that Bitcoin is C++ doesn't mean that all software related to Bitcoin should be written in C++.

If you are wondering which language you should learn first, then my recommendation is to learn a popular procedural language with a simple syntax and a simple development environment, such as Python. Starting with C++ is like learning to fly on an airliner.
979  Bitcoin / Bitcoin Discussion / Re: Elizabeth Warren claims on: September 23, 2021, 07:21:18 PM
She's not angry just at crypto, she is angry at banks, Facebook, Amazon, oil companies, landlords, police, ICE, she just wants free money for the ones that don't work and no barriers for refugees. In rest, it's all about opposition to everything, a classic populist way to get votes.

I believe she is looking to be the Democrat party version of Donald Trump.
980  Bitcoin / Development & Technical Discussion / Re: Is Bitcoin still experimental? on: September 22, 2021, 08:04:57 PM
When you're spending from a multi-seg transaction you have to push a zero byte in the stack first.

So is it still there, or has something to do with the zero in the version number?

It is still there. It has nothing to do with the version number.

It will never change because it is not really an issue, and changing it would require a hard fork. FYI, there is also a bug in which the new target computed each 2016 blocks is computed incorrectly. It will also never change for the same reason.
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