|
1421
|
Bitcoin / Mining / Re: Centralization in mining.
|
on: December 14, 2023, 05:45:15 PM
|
It's interesting to think about. I really doubt anything will change for the better (I imagine the issue will likely worsen over time) unless smaller pools are able to come up with incentives to effectively pull in miners.
This issue isn't just to limited to Bitcoin, I believe Monero has a similar issue with the majority of hashrate tied up in a minority of pools. It's unfortunate to see Bitcoin's decentralization slowly being crushed by these pools.
Do you think that a private pool like Foundry will collude with other mining pools for a 51% attack? And which centralized exchange will they attack? If you do not make transactions during the attack, then your bitcoins are safe. They are attacking right now. It is fee hike attack. They do not need 51% to do it. A 51% attack would be stupid as it would kill btc. So do a fee attack. foundry makes 48 blocks a day. say they deliberately make only 40 via downclock they save power and drive fees up. but if fees raise by 1.5 btc and they make 40 blocks that is sixty coins extra. they lost 8 blocks at maybe 6.75 coins that is 54 coins . a gain of six coins and huge power savings. just wait til the ½ ing same attack gain same 60 coins save power and losing 8 blocks is only 30 coins so net 30 coin profit. |
|
|
|
|
1422
|
Economy / Speculation / Re: Can anyone be a Bitcoin speculation expert?
|
on: December 14, 2023, 05:28:15 PM
|
I've come across plenty of speculation about Bitcoin even before joining the forum. I remember when people said that the current rise in the price of Bitcoin doesn't necessarily mean it's a bull run. Even now, with Bitcoin at $44k, there are still speculations that it will dip.
During the Bullish Trend
$36k -- btc will dump
$38k -- btc will dump
$40k -- btc will dump
$42k -- btc will dump
$44k -- btc will dump
If by any chance bitcoin goes below 36k or further they would say they were right about this. I want to know if it is possible for someone to be a bitcoin expert. Like a person who is always right about his/her speculations even if it takes sometime to be confirmed.
Difficulty Price are predictable every hour for price every two week for the difficult. but in terms of being an accurate predictor good luck doing that. I did a thread about a pattern https://bitcointalk.org/index.php?topic=5472517.msg63090856#msg63090856I made very strong predictions in that thread. 🧵 so far they look good does this mean I am an expert ,not really. It does mean I saw a pattern and believed it would repeat. |
|
|
|
|
1423
|
Other / Meta / Re: Mixers to be banned
|
on: December 14, 2023, 05:22:11 PM
|
Basically who here would picket the Kremlin with a sign that says "fuck you Putin end the war"
It's not a very good analogy because in the democracy of the "free world" we value and enjoy freedom of expression. So, you're pretty much allowed here to say things like "Fuck you Biden, stop the war!"Not many of us, so why ask theymos to protest against multiple governments.
Not all protests against governments are inherently or universally negative. Especially when they advocate for human rights. (Just to be clear, I'm talking in general. I'm not advocating that theymos should openly oppose laws or regulations in this case.) yes I can march in front of the white house with a sign saying fuck you Biden end the war. ( And resonably feel safe to do so) and I can’t march in front of the kremlin with a sign saying fuck you Putin end the war (with a reasonable expectation of being safe to do so) Theymos actions here hint he feels that keeping the mixers up 🆙 will get the forum a Putin action not a Biden action in my analogy. Do I like that this happened nope. I am getting older and the work to run the mine is far harder than writing posts on bitcointalk. I was looking to transition from mining and post for side money. Most people that know my history since 2012 on bitcointalk know I usually do not sell my space. But with age and miners getting physically bigger I am tiring out. Hernia operation last year healed okay but I can feel the mesh strain on heavy lifts. Hey I wish the mixer ban was not needed. But I do not want to see bitcointalk be closed down over it. |
|
|
|
|
1424
|
Bitcoin / Bitcoin Discussion / Re: Count down to Bitcoin halving.
|
on: December 14, 2023, 01:31:48 PM
|
Pretty sure we pass 70 before the ½ ing as the ½ ing patterns are changing bigly. this ½ ing is not a full 50% ½ ing last 5 blocks are .. 01) 6.25 + 1.22 = 7.47 btc after ½ ing 4.345 58.1% not a ½ ing 02) " + 1.37 = 7.62 btc " 4.495 58.9% not a ½ ing 03) " + 1.64 = 7.89 btc " 4.765 60.4% not a ½ ing 04) " + 1.66 = 7.91 btc " 4.785 60.4% not a ½ ing 05) " + 2.05 = 8.30 btc " 5.175 62.3% not a ½ ing So these are no longer ½ ings. due to fees running way high for most of 2023 as shown below  I see the higher fees as the first " it is different this time that " is clearly measure able. Look how many days of high fees in 2023. I am predicting we go up above the ATH sooner than the ½ ing due to this. Peak number will be after the ½ ing as usual. |
|
|
|
|
1425
|
Other / Meta / Re: Mixers to be banned
|
on: December 14, 2023, 12:56:38 PM
|
If we ban Jambler, we should ban Google as well.
ban bing and all search engines. While we're at it, let's ban all news publications that report about mixers too. Nah that is out of bounds since many do not use the internet. So I would go with search engines and bitcointalk. The ban cost me well over 3000 usd and frankly I support it. Would have not wanted to lose my six month prepaid signature contract. Had to refund ⅔ of it. But I think towing the government line still needs to be done. Basically who here would picket the Kremlin with a sign that says "fuck you Putin end the war" Not many of us, so why ask theymos to protest against multiple governments. |
|
|
|
|
1428
|
Economy / Economics / Re: Do you still use Banks ?
|
on: December 14, 2023, 04:13:26 AM
|
We have cryptocurrency you still use Banks ?
The bank online many times not working slow Also i want to transfer fast to Canada to russia i cant do that or india to USA i cant do that i need instantly.
Also i asked money my bank dont give so If the bank don't help me to get rich then i dont need them.
Do you still use Banks ? Im using only cryptocurrency debit cards and they always work better than bank.
So Im still surprised If anyone still use Banks they are old
Do you use more crypto or banks for your daily or average transactions ?
Do you have had problems with hackers or someone steal money from your cryptocurrency or bank
Do you think banks not working reliable any more ?
I teach all my family to use cryptocurrency becouse i dont trust Banks and i think If you can tell your bank mind your business you are scam i told my bank If you not give me loans or credit i dont need you and i close it
not sure what country you are in. But I seamlessly use btc,doge,ltc and banks and checking and credit cards. I also don’t trust any of them which is why I use all of them. |
|
|
|
|
1430
|
Economy / Speculation / Re: So new patterns for BTC fees what do they mean does the ½ ing lose its power
|
on: December 14, 2023, 03:58:11 AM
|
Whatever happens, however grim we may foresee the future, I guess the best way is still to let the free market decide. For now, miners aren't fee-dependent. So it probably doesn't bother them a lot if the fees rise and fall. Although they must be happy with the current rates. I guess this will continue to be like this for the next 3 halvings, including the one in April next year. However the halving in 2032, in which the reward would only be as low as 0.78125, would probably be a vital point. Unless the price is appropriately high, many might decide to leave the industry. Regardless, is using "artificial means" to force fees higher fair and acceptable?
Well I know the mining industry but on a smaller scale than a 100,000 unit farm pulling 300,000 kwatts. Or 300 megawatts. my share of the btc network is 6/450,000 the 300 megawatt player has 6,000/450,000 share of the market. If the 300 megawatt player could down clock all his s19 xps to 120 th vs 141 th spending way less power. Hitting less blocks but raising fees thus earning more profit. It would be fair to my investors and stockholders. It looks doable , but not this ½ ing maybe 2028 or 2032. |
|
|
|
|
1431
|
Economy / Speculation / Re: So new patterns for BTC fees what do they mean. Does the ½ ing lose its power?
|
on: December 14, 2023, 02:28:14 AM
|
Fees don't drive the price, it's the price movements that drives the fees up. When the price rapidly changes, there are lots of arbitrage opportunities because the price might differ a lot between exchanges, and bots/traders capitalize on that. Also those who store coins in self-custody are making on-chain transactions when they trade, and they are ready to pay high fees for that. If a trader moves five or six figures worth of coins, $5 or $20 fee is nothing.
You are right any 10,000 plus value sale does not give a fuck about a 20 or 30 dollar fee. But I see BTC = 1,000 Plus and small shit moving to LTC, DOGE = under 1,000. The ½ ing boost is waning with reward to fee ratios waning . I also see those numbers not looking like a ½ ing in 2028 and 2032 and 2036 and on and on. |
|
|
|
|
1432
|
Economy / Speculation / Re: back in 2015 we had a nice pre 1/2 ing streak.
|
on: December 14, 2023, 02:23:58 AM
|
I would be really happy for it continue these small pumps, then stabilising for a bit then going up again. Feels like resistance is being built for the future. I do wonder too have miners stopped selling and are hoarding a bit before the halving. 48k by Mar tho Phil sounds more realistic , but who knows maybe 3/15 might be a better day
Continues pump is very rare in cryptocurrency market and it cannot subsist up until halving and slight dump will surely take place. You will have experience that bitcoin hit the value of 44k$ after which it slightly reduces to 43k$ and now it is 41k$ which means that market is facing slight dump. This dump is not a serious situation but it is going to ready for big pump in coming year. This year the bitcoin will touch 45k$ and we will examine different worth from upper value to lower value till April which means that market cannot stand with a single value always. After pumping, there will be a correction and that has often happened in the past. So when the price yesterday pumped up to $44k, now it is correction time and this is a small correction. The current price is still at $41k but is increasing little by little. Maybe after this, there will be another pump. That's why we must always be prepared for whatever happens. And because we are at the end of the year, there may be a rather big correction. But hopefully, at the end of the year, there will be a surprise regarding the price increase. Hopefully, by the end of the year, Bitcoin's price can touch above $45k, although we don't know if that will actually happen or if there will be a dump like yesterday. But after the halving, there will be an increase in the price of Bitcoin. Maybe later there will be a long rally that we have been waiting for. It is back up due to good fed news also the market went to a new ATH . So we may yet get to my predicted 48k+ |
|
|
|
|
1433
|
Bitcoin / Mining speculation / Re: 2023 Diff thread now opened.
|
on: December 14, 2023, 02:21:10 AM
|
You call that a drop?  Technically, you can't call it anything else.  For real tho, i don't take 0% as my baseline, the average diff increment for the past year or so is around 2-3%, so a -1% is viewed as -2-3% for me, just the fact that it did not go up is great news. So I feel like I need to quit this guessing game.
I have been watching diff changes for years now, and so do you, did you notice that the diff change made a lot more sense back when the main hub was in China? U.S money is just crazy, it is hard to understand. Because they play with clocking as they want to raise fees in prep for the ½ ing. Study from 2021 April Chinese hash dump to now all I see is a continued effort from large miners to raise fees. They saw fees sky rocket when hash rate dropped they now riff on this first 2 or 3 days each jump. - hashrate raising fees just look at 2023 fees.  |
|
|
|
|
1434
|
Economy / Goods / Re: ~ Buying a TESLA CYBERTRUCK with BITCOIN ~
|
on: December 13, 2023, 09:46:12 PM
|
So not one soul here got their hands on one?
What happened to this delivery event I thought I'd see em on the road this week so far nothing.
they offered a 1000 dollar discount and six months of free charging . to reward me for my preorder. the catch is thats for taking a model 3 by dec 31. I will keep waiting for the truck. 🛻 based on that offer maybe june. |
|
|
|
|
1435
|
Bitcoin / Bitcoin Technical Support / Re: Issues with bitcoin electrum transaction please help
|
on: December 13, 2023, 04:32:51 AM
|
I have made a transaction that the fee was charge 30 sat/byte ($1.4) and it was confirmed within the next 4 hours or something so, although i used a Viabtc free acceleration tools to speeding up my transaction.. If op don't mind he can use this service to see if that would work for him as well. Are you using the free service or the paid one? I'm curious how much you will need to pay for the paid service. I tried it now to accelerate the OP transaction but it can't, it says, ( Transaction fee is too low) which means this transaction didn't meet the free service category but I don't know how much you will pay for the paid service. It might be the best option for OP to wait or use the paid service of that Bitcoin transaction accelerator. over $100 worth of btc. the paid service is almost never worth it at that price. @ op. you knew do do a ton of different things. yet you did not know that a 10 sat fee is pretty much worthless for the moment . educate yourself about proper fee amounts. |
|
|
|
|
1436
|
Economy / Invites & Accounts / I guess this is correct spot. A bitfufu account holder needed.
|
on: December 13, 2023, 03:47:37 AM
|
|
https :// www. bitfufu. com/
I can not join them As they do not allow USA to register.
With KYC.
They are selling bit main coupons at a good price
0.037 cents on the dollar
I could use 100 worth which is around 2703 discount
if they work I would buy another 100 worth 2703 discount
So UK any one .
SO I could offer extra if someone wants to buy them and transfer them to me.
Going to put this on marketplace.
So I would take multiple orders maybe
100 for 2700 coupons
100 for 2700 coupons. I would pay I guess 300 so you would make 100 bucks
let me know if you want to do it.
if you are new you need to trust me as I have been around forever.
If I know you no worries.
I will pay up front 150 for each order.
|
|
|
|
|
1437
|
Bitcoin / Hardware / Any one in UK use bitfufu
|
on: December 13, 2023, 03:42:13 AM
|
|
https :// www. bitfufu. com/
I can not join them As they do not allow USA to register.
With KYC.
They are selling bit main coupons at a good price
0.037 cents on the dollar
I could use 100 worth which is around 2703 discount
if they work I would buy another 100 worth 2703 discount
So UK any one .
SO I could offer extra if someone wants to buy them and transfer them to me.
Going to put this on marketplace.
|
|
|
|
|
1440
|
Economy / Speculation / Re: So new patterns for BTC fees what do they mean does the ½ ing lose its power
|
on: December 13, 2023, 02:23:49 AM
|
What do you mean by "fees are forced higher via artificial means"? High fees are just a result of high demand. And it's just the case that transaction demand increases in bull markets (and due to Ordinals recently). if fees are forced higher via artificial means to 0.7 for next decade. the ½ ing effect leaves.
as shown below
6.950
3.875
2.2635
1.48125
1.090625
I don't get this part either (I'm an idiot most of the time). mind expounding? 1) ordinals drive fees up. 2) sending 0.00001 btc with a fee of 5 sats per byte clogs the mempool 3) shutting off gear slows the network. to do number 2 or 3 from the above you have to be a huge pool The idea is to raise fees above 1 btc if you are foundry pool and you make 48 blocks a day. surrendering 3 blocks by downclocking gear is a loss of 18.75 coins. but you save on power and you can raise fees by less blocks for the network and be feeding in txs of 0.00001 with fees of 0.00000830 that send is 0.00001830 100,000 sends like that costs only 1.830 coins and clogs the pool. plus they never clear they stay for 2 weeks and purge out. cost is zero. those numbers are blocks plus fees pf 0.7 6.950 in 2023 3.825 in 2024 2.26. in 2028 1.48. in 2032 1.09. in 2036 those are nothing like the former ½ ings 50.05 in 2011 25.10 in 2012 12.60 in 2016 6.95 in 2020 they are ½ the coins as the reward to fee is very different then what is starting to happen with this ½ ing. is about 6.95 |
|
|
|
|
Show Posts
