1761
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Economy / Economics / Re: fiat vs commodity
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on: November 23, 2023, 12:24:29 PM
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My question is whether the price of bitcoin is rising or is fiat experiencing a decline? because someone on the internet I saw once said, house prices don't rise, fiat is the one that weakens every year.
Historically, when the price of gold has increased, it has been because of the decreasing value or purchasing power of gold. Bitcoin is works similarly due to it's similar economic characteristics, though I think one of the superb things about Bitcoin as a cyber commodity, is that it gains strength from its own use case and development, which is something that is not entirely the case with gold anymore (in its early times though, it did have use case discovery but markets were no where near as a good at efficiently valuing things as they are now) In short, the answer is both! This can be seen clearly on the graph This is best way to describe it. You can toss in gold and homes and silver etc. They all travel on a value path when compared to one another. Gold sucked from 1992 to 2003 it stayed in a 200-400 usd slot. it is now about 2000 so it did better from 2003 to 2023. homes sucked from 2007 to 2015 but were great from 2020 to 2023. btc sucked from nov 2021 to nov 2023 but were great from dec 2018 to nov 2021 so you can see cherry picking the good times or the bad times shows variations
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1763
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Bitcoin / Mining speculation / Re: 2023 Diff thread now opened.
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on: November 22, 2023, 08:44:18 PM
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No longer the case for big moves, usually you would have time till around 10-12 GMT to enjoy some late extra cheap fees, but the impact is lower and lower, there is just too much clog left to have cheaper fees and already pretty high ones to have spikes from normal users, nobody is going to wake up and say, I fell like spending $20 on a tx now because it's Monday it's raining and I feel like killing myself..
I said that, because on Saturday night I made a transfer request at around 52sat/vB, which at the time expected +/-1h to process. But it didn't process, and rates rose sharply again on Sunday. On Sunday night, they went down again and ended up being processed. In other words, I really felt this drop in rates overnight. But it could have been pure coincidence. Having worked with every bitmain miner except the s11.
Of all of them, which do you think has the best viability? To give you an idea, which one will be the most reliable when buying second-hand? (I know, second hand it's always hard to tell, because there are so many factors involved.) look for a 2 board s19 program it with braiins . set it to do 2700 watts for 3 boards . you will end up pulling 1800 watts it won't be loud and should be a good steady piece of gear. If I remember you are in Europe. I think I shipped pieces to your country but it is very costly for me to send one to you. You need find one you can pick up.
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1765
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Bitcoin / Bitcoin Discussion / Re: How Often Do You Check Your Seed Phrase.
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on: November 22, 2023, 07:02:40 PM
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Lessons( 1) Do not keep your seed phrase in a particular place (2) Always check your seed phrase to be sure it is intact (3) Be sure you alone have access where your seed phrase is kept.
This is a very good update @ O.P on you elaborating about the importance of constantly checking our wallet seed phrase, because if only you never had duplicated yours that how you would have ended up losing all your coins, and this should be a strong lessons to each and every one of us here on this forum if we never want to encounter such incident. So on that note, I was able to make a rough sketch trying to explain on the good and bad ways of storing our seed phrase, so that if mistakenly it happens to get into the hand of a third party, they won't be able to know they are holding a seed phrase of a bitcoin wallet. This first image explains that while storing a wallet seed phrase, it's more advisable you do not write on the heading the word "Wallet Seed phrase" or the name of the wallet, but instead leave it blank, so that who ever happens to come across it will never know it is a wallet seed phrase, but if he/she is smart enough to know it's a seed phrase, he will not know which wallet it belongs to. (i.e Bluewallet, electrum Trust e.t.c). While secondly the words can be written either ascending or descending order, so that whoever finally figures out the wallet, will not know which order is the right order of words but only you alone. This second image also explains just like the first about how it's advisable to not also write on the heading the word "Wallet Seed phrase" or the name of the wallet, while the words can be written either vertically on ascending/descending order or in a diagonal form. word to the wise. peace for all. art for most. music for some. orange for none. goodness is but a wish. gift of life was for all of us. machine destroys us. miracle wanted is: war is over for us all zealous ones are special at this writing style. I think this way is better. In case you don't see it. look below word to the wise. peace for all. art for most. music for some. orange for none. goodness is but a wish. gift of life was for all of us. machine destroys us. miracle wanted is: war is over for us all zealous ones are special at this writing style.
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1766
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Other / Meta / Re: Helo! (not sure if anyone will though LOL)
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on: November 22, 2023, 06:51:18 PM
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so I find it interesting that I am 28000/43000 = 65% of my posts. Damn it is a lot
Let's do the math. Your regular posts are 43,700 and your inbox is 28,000 = 71,700 posts You have been active for about 11 years 71,700 : 11 years = 6,518 post per year 6,518 : 365 days = 17.8 posts per day, That's crazy, you are really a high quality spamer, LOL In fact, your posts are more than Robot ChartBuddyDo you still have 10 fingers after writing that much? Yeah but my time is numbered chart buddy will pass me by next year.
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1767
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Bitcoin / Bitcoin Discussion / Re: Largest crypto exchange CEO arrested! Anyone getting deja vu?
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on: November 22, 2023, 04:59:18 PM
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they operate binance.us and to fully say cz has zero to do with binance.us was likely impossible. thus the us went after them.
They started binance.us as a separate thing to avoid problems such as this. Apparently that didn't work as well as they hoped. I always wonder why they would operate binance.us as it would tie them into usa taw rules.
Because US market is always a good revenue from a business perspective. The population is high and so is the number of potential customers. But the laws and regs are fucking nuts in the US. I have bookcases filled with tax books from my accounting days. I just think he was a bit greedy to think he could get away with binance.us. I think they will leave the us and coinbase will be it. leaving a true choke point for cash to coin to cash here in the USA
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1768
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Bitcoin / Bitcoin Discussion / Re: Largest crypto exchange CEO arrested! Anyone getting deja vu?
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on: November 22, 2023, 02:07:20 PM
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Did they just throw this randomly in the mix Binance doesn't accept anyone from Iran and also considering that it has a strict KYC policy there is no way to circumvent that either. They just did not mention when the violation happened. If they counted it since Binance birthday in 2017 and a few years later before the exchange required KYC on their users, it is very possible that there are users from Iran or other sanctioned countries, locations used Binance and laundered their criminal money through cryptocurrencies and Binance. They only started to do KYC since 2021 How KYC Helps Keep Users Safe in the EEA & UKI suppose that could be the reason but at the same time pre KYC could also mean pre regulation of their business and anything done before that isn't exactly breaking any laws. Specially since as far as I know Binance never had any headquarters inside United States so they are not exactly subject to US laws. users from Iran or other sanctioned countries, locations used Binance and laundered their criminal money through cryptocurrencies and Binance.
Just because someone is from a sanctioned country doesn't mean they own "criminal money" and want to "launder" it BTW providing service to users from sanctioned countries is not counted as money laundering. It is counted as breaking US sanctions and would subject the business to sanctions or fines. they operate binance.us and to fully say cz has zero to do with binance.us was likely impossible. thus the us went after them. I always wonder why they would operate binance.us as it would tie them into usa taw rules.
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1769
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Bitcoin / Legal / Re: Opinion The IRS Is Making Crypto Compliance Impossible
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on: November 22, 2023, 01:27:14 PM
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So every time you want to use Bitcoin to buy a gift card, pay a bill, buy any physical or digital good, cash it out in a fiat currency other than the US dollar, its a capital gains event.
Stupid as all hell.
Clearly the government is not getting our best and brightest. To be frank I've only ever met a handful of "smart" government employees. And their jobs were incentive-based, not just a flat salary, which partially explains it.
I understand part of it is they want to make Bitcoin as inconvenient to use as possible so people will stick with the dollar, but in the long run I just don't see that happening. They can attempt to do it through threatening legislation, but its simply not going to work, mark my words.
These laws are from Congressman Senators and the President. the IRS does not make them up. Having worked for them three years And my wife worked for them thirty three years and my mom worked for them for twenty three years. the IRS are more like cops or meter maids. They are given a set of laws and make rulings on them. The last admin Trump and co ended the trade A btc for some ltc rule in 2018. No longer like kind. They only allow real estate as like kind trades. And not an apartment house for a home. But a house for a house or an apartment house for an apartment house. All my trades are fifo and the paper work is fucking nuts and I have a degree in accounting. dca buy and hodl is the single best thing to do . if I knew that I never would have mined since 2012. I do 200 and 250 page returns and some years I make under 15000 usd.
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1770
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Bitcoin / Mining speculation / Re: 2023 Diff thread now opened.
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on: November 22, 2023, 12:24:42 PM
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https://newhedge.io/terminal/bitcoin/difficulty-estimatorLatest Block: 817944 (7 minutes ago) Current Pace: 103.4589% (1465 / 1416.02 expected, 48.98 ahead)Previous Difficulty: 62463471666732.73 Current Difficulty: 64678587803496.61 Next Difficulty: between 66750216791256 and 66923265466373 Next Difficulty Change: between +3.2030% and +3.4705% Previous Retarget: November 12, 2023 at 11:22 AM (+3.5463%) Next Retarget (earliest): Sunday at 12:08 AM (in 3d 16h 45m 47s) Next Retarget (latest): Sunday at 12:59 AM (in 3d 17h 36m 7s) Projected Epoch Length: between 13d 12h 45m 59s and 13d 13h 36m 20s 4 days to go. solid gain +3.45% Having worked with every bitmain miner except the s11. If I was buying 50,000 new units I would insist on at least 5,000 being burn tested for two-four weeks. I would want my people to pick them at random as I would want an idea of just how shitty they are. So I have to think these are burn tested for quality control for big buyers. Is there really a Malaysia factory? I have read articles that one is used to get around trump tax.
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1773
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Bitcoin / Bitcoin Technical Support / Re: Raspi 4 for Bitcoin Node: Still Compatible?
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on: November 22, 2023, 02:35:28 AM
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While i agree with you, unfortunately Chromebook gaining popularity on low-end/cheap laptop category. Although unlike Android, some chromebook currently let you install different OS with no or little hurdle.
I can (unfortunately) confirm this. Chromebooks are already being issued to our primary school pupils and used in lessons. The children learn to work with these systems right from the start and therefore don't even know how limited the devices actually are. Chrome OS (which is default OS comes with most Chromebook) let you run Android apps, so some people wouldn't notice limitation of the device and OS. However, I have not noticed any (excessive) advertising on the Chromebooks, no. It was very different with a Windows 11 computer that I recently had to repair. These adverts come across very obtrusively as "tips" or "suggested apps" and tempt inexperienced users to click ... and to buy:
On other hand, google use personalized algorithm on it's product (e.g. search result and suggestion on youtube) which has some controversy. But in my experience, Microsoft's spyware programs do not consume a lot of resources once they lose network connectivity.
This topic talking about running full node though, so device which run full node software must connected to internet all the time. but if you work at it you can kill off a few windows 11 spyware apps and still be online. frankly I run nodes on linux now. as my prime choice of Mac mini's has killed the cloning ssds as external booters thus making them too hard to back up and or upgrade.
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1775
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Other / Meta / Re: Helo! (not sure if anyone will though LOL)
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on: November 22, 2023, 02:30:23 AM
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Forum PM (Outbox) I am surprised that your outbox spanned upto 125 pages. This is really much, it seems you are busy in the pm as much as you are busy in the general forum. No wonder you always indicate that users shouldn't contact you through pm. Let's do the math, and the number of messages Royse might receive in his outbox is 2,500, which is 30% of his regular posts. If we add an inbox then there is a 60% chance that Royse will be busier in PM than in regular posts. Do you want to see my inbox? It looks cool and you will definitely be surprised when you see it My inbox is huge 802 My outbox is huge 601. so 1403 x 20 = 28000+ and I deleted 2000-3000 ins and outs. so I find it interesting that I am 28000/43000 = 65% of my posts. Damn it is a lot
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1776
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Bitcoin / Development & Technical Discussion / Re: Fair and unbiased coins have a bias to land on the same side they started
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on: November 22, 2023, 02:22:18 AM
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In the interest of being thorough, it should be pointed out that most washers *will* have a built-in bias because most have a rounded top edge and a much sharper bottom edge because they are stamped out of ribbons of metal. For no bias the washer should be flat-ground.
As an aside - that also affects how they work: correct orientation is rounded side against the head of a bolt or against a nut or lock-washer, sharp edge against what is being bolted. The edge digs in to grip the material a bit reducing chance of rotation and also helps seal against corrosion.
As for bias caused by how a coin is flipped - take that out of the equation by spinning it on the edge and counting what side it stops on. The huge number of spins that usually happen should remove any conscious or unconscious 'flip' technique bias.
Good way to say it. The key is lots of rotation of the coin. Although a very disciplined and skilled athlete may be able to play with that. But I suppose it is like bowling a bowling ball on a 300 foot alley vs a 60 foot alley. Lots of people have a perfect game on a 60 foot ally. I would suspect no-one would be able to do it on a 300 foot alley.
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1778
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: November 21, 2023, 11:59:18 PM
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To sue an exchange is the new china bans bitcoin? Losing binance shouldn't effect King Daddy at all and might help by curtailing the shitcoin Eth tard manipulators but Kraken is a good onboarding platform that would suck to lose. Kraken closed my account with no notice and no reason given. When I contacted them they told me they couldn’t give me any more information. Pretty shady considering I’ve hardly used the exchange at all in years. As far as I’m concerned, good riddance. I’m also glad I got my mtgox claim transferred to a different exchange. i am down to coinbase. i can’t remember how many bumped me.
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1780
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Bitcoin / Development & Technical Discussion / Re: NFTs in the Bitcoin blockchain - Ordinal Theory
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on: November 21, 2023, 08:52:33 PM
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Anyone else heard of the Sophon bot that snipes brc-20 in the mempool and front-run them?
Front-run them? By paying higher on-chain fees? That would absolutely make the fees higher and the network more congested, no? He's not making the situation better for the users in general in my opinion. Is it currently running? Because it could also be the reason why we're having record-breaking fees. Perhaps it was better to let users use the blockchain? ¯\_(ツ)_/¯ From what I heard and read in the article, it doesn't just front-run the brc-20 in the mempool, it changes also the mint amount to 1 which spoil the whole transaction. (Please somebody correct me if I'm wrong) From the article: "The Sophon was activated on October 3, and text-based inscriptions plummeted 72% to 13,700 from 49,000 the day before..." Yes, the bot pays higher fees at the moment brc-20 get detected, but creates disruption for inscriptions hence overall fees lessen. it says in the article that the bot lacked funds to operate around october 23rd which is when the inscriptions fees rose exponentially again. So in theory it is not running right now. Not saying this bot is a gamechanger but it could be a fun little tool to spoil the token minting / inscriptions on Bitcoin... It would be nice to see it be fired up as it would be a huge fee saver if it works. I suspect it does not work since the cost to run it was very small and why wouldn't someone cut a deal with its creator to run it.
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