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1681
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Economy / Speculation / Re: High transaction fees affects those who DCA
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on: November 26, 2023, 11:31:25 PM
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The current Bitcoin fees wouldn't have mattered to me because I am not selling, but the fees do matter because I DCA, and I don't want to leave my coins in the centralized exchange. This month, I have spent roughly $5 to $10 in transaction fees when I DCA every week. It may seem small, but in my country, it's enough to cover my feeding expenses for a month cumulatively.
I discussed this issue with my friend, and he suggested I use an exchange that utilizes the Lightning Network. According to him, this would help me get off with no fees any day. While I'm considering this alternative, another option is to wait for a month or two, then use the amount we kept for weekly DCA, hold it for a month or two, and lump sum. This way, i would incur just a one time fee. What are your thoughts on this? I feel like I may use the money kept for DCA for other expenses.
The Mempool congestion has been an issue and who knows when the fees will be beaten lower to accommodate reasonable fees. This is a discouragement truly but is not the first time that we will experience this kind of situation, which is why I know it's not going to be the last. You and your friend have also made the right suggestions, so don't be discouraged, I also advise you to continue to DCA without minding the situation. You can use your Debit/Credit card, P2P, or Lightning network if the money is not big. But if the money is big enough, I wouldn't mind the network fee if I were you, but I will be DCAing once a month. This would have saved you a lot of money if followed and could be paying barely $3+ for the transaction a month if you study the Mempool correctly. If you notice we are settled in solidly around 45 sats. So if fees are always at 45-50 sats. People will have to adapt usage of side coins. and LN chain . I think 40 sats could be forced for long time periods. |
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1682
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: November 26, 2023, 11:23:21 PM
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and according to "THE DAILY HODL" the price can exceed $40k:
I noticed something that I feel is a very good indication of growth in the market. I expected the situation with Binance to really affect the market negatively, like send the price of bitcoin lower, but it has not. so a quick question is? Has the market become stronger? or did Binance handle the situation well not to cause FUD. Both at least it seems to be that way. |
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1684
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Other / Meta / Re: DT1 and DT2 Explained - Gods of Bitcointalk
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on: November 26, 2023, 11:17:45 PM
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This is the strangest explanation I hear today. The forum is multinational and many people believe in different opinions and beliefs, so it is better to keep religion away from the explanations. I also think that most religions today are monotheistic, meaning that there is one God that does not need your worship, but rather you are the one who needs.
In general, the descriptions you mentioned are far from explaining how the trust system works.
it was amusing . so he equated theymos to xena the warrior princess. not sure if you watched the 1990’s show. |
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1685
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Bitcoin / Legal / Re: SEC vs Binance
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on: November 26, 2023, 11:03:28 PM
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sec wins!
after the battle they had over ripple which they lost I thought they would lose this one for sure.
I don't know what you mean by the SEC wins. Although, CZ pleaded guilty to money laundry but his hearing is still tomorrow and that's why he was told to remain in the US before he sought permission to travel which I don't know if he was granted permission.  Well CZ plead guilty so he lost as he is guilty that would mean the sec wins. When a government agency is going after you and you plead guilty most people would say the government win and the plaintiff loses. CZ is a convicted criminal by his own admission. Does this mean I think he is bad evil etc. No it means he lost the case. |
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1686
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Bitcoin / Mining / Re: Rate the safety of this mining setup
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on: November 26, 2023, 11:00:02 PM
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So , from 1 being it's already a miracle it hasn't killed someone to 10 being as secure as ASML EUV factory or something like that, rate it!
I'll rate it at 1, but it deserves less... - On the second setup, it appears that they didn't even bother to completely remove the plastic wrap on a few of them!
- Wooden rack and walls!
- Awful cable management that increases the chances of something going wrong if there happens to be some sparks!
- It's not clear if the second setup has carpet flooring or not, so that could be another negative point.
the top one is really bad wires are terrible and lots of wood. the bottom one wires are better but lots of wood. so a 2 for the top maybe worse and a three for the bottom maybe worse. they both could be 1 ones. the circuit boxes could be really fucked up. It is hard to say they are a one as the circuit boxes are not viewable. I saw a 200 amp circuit box feed with 8 gauge wires that means fire 🔥 fire 🔥 fire 🔥 . Or melt melt melt magic smoke if lucky. |
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1687
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Bitcoin / Legal / Re: SEC vs Binance
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on: November 26, 2023, 10:38:09 PM
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sec wins!
after the battle they had over ripple which they lost I thought they would lose this one for sure.
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1690
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Bitcoin / Development & Technical Discussion / Re: Open A.I "Q" Project supposedly cracked AES 192 encryption very fast.
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on: November 26, 2023, 06:35:05 PM
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Is this like the guy who claimed to crack RSA 2048 but then it turned out to be just papers and theory? Besides, I don't know how they managed to get any work done over the last few days while they were busy kicking out Altman and then begging for him to come back (and then dealing with all the employees who left / threatened to leave)? "fully decoupled" Meaning if you had an Air Gapped bitcoin hardware wallet, this ai wouldn't even have the opportunity to try and crack your wallet?
In theory, yes, but if AES256 and a bunch of other crypto algorithms are broken, then disconnecting will not matter, since every private key in the world could be calculated. Yeah if it really is that good. Crypto would die. as every wallet would be empty since every seed would be cracked. By fully air gapped in this future world no internet would exist other than a possible tv video internet. As news would be fake news since all video and or audio can be deep fakes. You could have a stand alone laptop that does not have wifi or any connectivity of any kind. it could print to a printer that only connects with an eth cable. you could give it to a messenger that hand delivers it to some one that needs it and he or she could scan it into their laptop via their scanner printer. |
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1692
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Economy / Collectibles / Re: [AUCTION] 2018 Dogecoin Bar
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on: November 26, 2023, 04:30:19 PM
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Okay went to the link trying to understand what this bar is made of. what does it weigh.
From what I read it is 2oz of .999 silver.
but there are more than one bar and some are made differently.
so can I get a confirmation that this is supposed to be 2 oz troy .999 silver.
if it is the 2 oz troy silver .999 bar
I will bid 0.0015 btc.
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1693
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Economy / Economics / Re: Btc vs dollars
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on: November 26, 2023, 04:18:33 PM
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Presently, should we say it's good the way bitcoin its been tied to dollars? Dollars is not backed up with any resources but to my understanding, bitcoin is a product of great energy surge. We shouldn't let bitcoin tied to dollars but bitcoin standing on its own. What could decide the durability and value of bitcoin? I have some ideas..
So btc stands on its own means to me how many kwatts makes a Btc. So at 20 watt a th a machine makes 0.00000203 btc per th daily so if you value btc at watts. 0.00000203 btc = 20 watts 0.00002030 btc = 200 watts 0.00020300 btc = 2000 watts 0.00203000 btc = 20000 watts 0.02030000 btc = 200000 watts or 200kwatts 0.20300000 btc = 2,000,000 watts or 2 megawatts Final number I rounded 1.0 btc = 10,000,000 watts or 10 megawatts to make a btc thats an energy measurement for btc today which will change over time. |
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1694
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Bitcoin / Development & Technical Discussion / Re: Open A.I "Q" Project supposedly cracked AES 192 encryption very fast.
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on: November 26, 2023, 04:04:09 PM
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LOL True. I guess im trying to wrap my head around the idea of "New Math"
I guess if you read enough math text books, maybe you could see a new pattern emerge?
If that's the case, big IF, then Bitcoin will need a hard fork soon. I wonder if any of the DEV are working on this already?
If it really invented a superior math that easily and rapidly solves 192 crypto it is likely the entire world is fucked. All computer stored info would be viewable. Your new setups would all need to be fully decoupled to be safe. |
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1696
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Bitcoin / Hardware wallets / Re: Idea: Ledger as seed generator?
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on: November 26, 2023, 03:32:12 PM
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And now the idea: why don't just use Ledger (only!) as seed generator?
I'd rather just use /dev/urandom and convert the format as needed. Your Ledger probably is more useful if you use it either as decoy or store altcoin if you can't find better software wallet for that altcoin. Is it anything I've missed?
Ledger isn't open source. And with various controversy, don't trust them or their product too much. decoy is a great idea. put a few dollars worth of coins in it and you are good to go. |
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1697
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Bitcoin / Hardware / Re: Separate AC cooled room supplying air flow???
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on: November 26, 2023, 02:53:38 PM
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yeah the farm runs solidly. enough air in along with some ac in works. our setup has about 500,000 btu of heat. the two ac’s do 72,000 btu of cooling. and tons of fans exhale the heat. bringing in cool air is okay. but exhaling heat is important. how many miners do you have? |
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1698
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: November 26, 2023, 01:51:43 PM
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nice looking too. they are a great commercial. I didn't know Australia was that fucked up. Considering Australia began modern-day life as a penal colony for wayward Irish folks (mostly thieves) they're not doing too badly; it could have gone Mad Max  yeah i spent two weeks there back in 1980 Sydney was very nice. Despite all odds that are said about Australia, its true that they have grown up nicely. Except the fact that Decembers are hot and June is Cold there. yeah but if you live in New Jersey you can go there Nov 1 and stay til April 1 thus never having to deal with the cold and dark of winter. It was dark by 5pm last night (NJ) which sucks. |
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1699
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: November 26, 2023, 05:04:54 AM
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nice looking too. they are a great commercial. I didn't know Australia was that fucked up. Considering Australia began modern-day life as a penal colony for wayward Irish folks (mostly thieves) they're not doing too badly; it could have gone Mad Max yeah i spent two weeks there back in 1980 Sydney was very nice. |
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