1801
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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 19, 2023, 01:18:43 PM
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lets pretend it is true.
how bout alternative spin starts.
A) you must use heads on top to start flips for first ten tosses B) you must use tails on top to start flips for second 10 tosses
so on and so forth pretty much ends that issue. if that issue is true.
Other things need be done when you flip it it must go up and over your head as it is spinning. It must spin.
I would be willing to bet that if done with the same coins as the first test for 350,000 spins it would be more accurate.
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1802
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Bitcoin / Bitcoin Discussion / Re: How high can the transaction fees become?
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on: November 19, 2023, 04:29:52 AM
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The mining algorithm has nothing to do with transaction fees.
yes it does. sha-256 is setup to mine BTC. btc is 10 blocks an hour scrypt is setup to merge mine 20 blocks of LTC an hour and 100 blocks of doge an hour. So room for 10 blocks of tx fees vs room for 120 blocks of tx fees both Algos have LN service So scrypt can do 12x the volume of btc The fact you posted what you posted shows how deep the problem runs as you did not understand my concerns in the least or the reasons I keep writing this. using btc via sha 256 for cash in small amounts is at a 12x disadvantage to using scrypt LTC/Doge So rather then complain about high fees lets move on to proper use for BTC Large value movement of wealth Large value storage of wealth LTC/Doge small value payments small value storage. The solution above would work . At least that is the way I see it. Bcash and Bcash SV use the SHA-256 algorithm also and their fees are comparable to or perhaps even cheaper than LTC and DOGE. Ethereum has higher throughput capacity than LTC & DOGE, yet its fees are higher. Fees are more a result of demand for blockspace and total capacity rather than the consensus algorithm used. Bcash and bcash sv have under 2% of the sha-256 network. ie almost no security . scrypt mining ltc/doge merged have well over 95% of the network very secure. so the glaring defect of btc is it can not move 12x the tx that it is moving now. if it could you would not need scrypt and ltc/doge merge mining. we can argue semantics forever. so rather that do that. I mean 95% or more of the hashrate ie BTC and Ltc/doge both have that thus they are secure. but btc has 1 block every 10 minutes and ltc/doge have 12 blocks every 10 minutes. the most secure coin in terms of gear hash rate percent power use is Btc the second most secure is ltc/doge. I see what you mean by it is not the algo. So I am clarifying myself ltc/doge 95% of the algo’s hashrate a lot of expensive gear and high power use= safe btc 95% of the algo’s hashrate a lot of expensive gear and high power use = safe ltc/doge 12 blocks per ten minutes btc 1 block per ten minutes doge/ltc could use another super low hash algo but it would mean junking a ton of gear. the gear is in place the infrastructure is there.
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1803
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Bitcoin / Bitcoin Technical Support / Re: Is the transfer transaction confirmed within 1 year?
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on: November 19, 2023, 04:10:10 AM
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As Zaguru12 said, it will be dropped by the nodes' mempools. It generally takes 2 weeks to be dropped if the fees don't fall below your fee rate.
There are many mempools, not only one mempool. A waiting transaction can be dropped from one mempool but it can be chosen or not drop by other mempools. The question is seriously because it asks for chance to get a confirmation after 1 or 2 years and honestly I am not sure all mempools will not drop that transaction if it stuck like 1 or 2 years. Mempools have their max mempool size, mempool expiration time and they can update their min transaction fee too. Chance to see an unconfirmed transaction is not dropped from mempools after 1 or 2 years is like impossible. the op can rebroadcast it over and over and it could last a long time. so a transaction can easy peasy last months. Just do 1 sat and rebroadcast it.
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1805
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Bitcoin / Bitcoin Discussion / Re: Bitcoin vs Altcoins
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on: November 18, 2023, 11:45:43 PM
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First, this isn't all about Bitcoin so you should move the thread where it is appropriate which is the Altcoin Discussion. As we look forward to the anticipated bullrun come 2024
What I and most are thinking is that the bull run will come by 2025 but 2024 is a great starter of it. Until we see it, that's what finally is for the date of its arrival. what altcoins are you holding and why do you think they will bring more returns compared to others?
Why should I say what I am holding? I'll just put it this way that I've got a few alts, the top alts but I am not thinking that I'll make more from them than of Bitcoin. I am still believing that my returns will be greater with Bitcoin. Why isn't it about Bitcoin's the title is BTC vs altcoin's So it is at least 50% BTC and since BTC is more than 50% of the market cap I think 54-56% it is mostly about btc.
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1806
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: November 18, 2023, 11:41:02 PM
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That was one hell of an achievement. If life is a game, getting beyond the great filter is no doubt the hardest thing you could accomplish. Elon Musk is truly a master of this game. I think this launch will look similar to the Bitcoin price in 2025. I thought all the Simping in here for Musk was over but guess you didn't get the memo. what does simping in here for Musk mean? I feel Musk does not get too much attention and praise. I am not a particular fan of him.
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1807
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Economy / Economics / Re: Btc vs dollars
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on: November 18, 2023, 11:39:08 PM
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I'd argue everything is superior to Dollars because it has its own use often unique and irreplaceable. We can be sure Dollars will be replaced, will turn back to the cotton worth they were made out of with no numerical special worth placed on them.
I would argue that dollars are backed with plenty of guns and soldiers that will take orders and if push comes to shove the dollar would win over any virtual coin if the people with real power want the dollar to win.
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1808
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Economy / Speculation / Re: Is there still hope for the price of BTC to hit back $69k this year?
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on: November 18, 2023, 11:28:07 PM
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If reach 69k this year - I think it's impossible. But with bitcoin, each subsequent halving cycle will have a bull run. I think there is nothing to worry about this. The upside potential of bitcoin is unlimited, the market dynamics and “internal” strength of bitcoin have since its inception become widespread. Bitcoin is a powerful tool to help the economy overcome the inflationary cycle. I believe the next bull run will see bitcoin 100k - 120k. Just hold bitcoin long enough and be patient
It's not that far off. I think we get close to 48K by years end. but if you look at dec 2017 we moved bigly nov 19,2017. 8,300 dec 01, 2017 10,800 dec 16, 2017 19,800 that is 1.8333 x 1 increase dec 1 to dec 16 we are 36545 so x 1.8333 = 66999 So it is unlikely but could happen. and 19800/8300 = 2.3855 to 1 or 2.3855 x 36545 = 87,179 so hi end could be in 67k to 87k for this year. I do not think it will but you don't know
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1809
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Bitcoin / Bitcoin Technical Support / Re: Raspi 4 for Bitcoin Node: Still Compatible?
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on: November 18, 2023, 09:59:13 PM
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No. The netbooks / laptops have a lot of other things that will cause them to use (nominally) more power. Circuits to charge / maintain the battery. Things involved in dealing with the keyboard & screen. Even if you remove the screen there is still more there then just the HDMI output like the RPi. Not a lot individually but they do add up. This got me curious, so I measured the power consumption of my coldest laptop. With the battery charged, the display on the lowest brightness setting, Wifi on and the CPU and SSD idling on the (Linux) desktop, I unplugged it. The house's electricity meter dropped 4W. That's as accurate as I can measure it, it could be 10-20% off of course, but I'd say it's quite impressive. Here's another rule of thumb: with laptops, divide the battery capacity (in Wh) by the number of hours it's said to run on battery. The first new Lenovo laptop I checked, has a 47 Wh battery and lasts up to 10 hours (MM18) or up to 15 hours playing video. With those specs, it should be able to run a Bitcoin node on less than 5W. Remember there is a loss when converting from AC to DC. And there are losses when the AC adapter is just sitting there plugged in not doing anything. You would also have the same losses with having the adapter for the RPi plugged in. At the pennies or nickles a day to run a node it's probably not worth worrying about. -Dave All this is why I have been doing laptops recently first choice.
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1810
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Bitcoin / Bitcoin Discussion / Re: How high can the transaction fees become?
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on: November 18, 2023, 08:54:55 PM
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I don't think you could. That's a pretty tough deal to ask, and even harder to predict than the price of bitcoin cause at the very least we have concrete definitive factors that could play a part in what the price of bitcoin would be in the future. Fees on the other hand are a little more tricky since it all depends on the current congestion rate in the network, which is already something that's hard to predict to begin with unless you get something like the ordinals coming in.
I say you shouldn't worry about trivial matters like that. Reinvest your time and effort into much more important stuff like actually preparing for the foreseeable future bitcoin-wise. Good enough that you're saving your money on a multi-sig wallet, but I would suggest using multiple wallets for different types of expense and transactions.
Multiple wallets are an important way to manage and secure your wealth. Having everything tied to single wallet will eventually jam you up or worse lose you some coin.
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1812
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Bitcoin / Bitcoin Technical Support / Re: Question about Bitcoin network spammer
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on: November 18, 2023, 08:16:09 PM
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Look at it as enforced savings. You don't want to move your BTC to buy something since it costs so much in TX fess so you don't spend it. More for you later :-)
In terms of investment, yes, you are right but in terms of bitcoin ecosystem, I think it's not a good idea to hold it. I respect the fundamentals of bitcoin, it's ability to help me do transactions without involving 3rd parties and it's ability to improve my privacy. So, since I respect this, I think I should use Bitcoin often. The more often we use it, the more popular it gets and more adopted it becomes. But, seriously. This too shall pass. No idea when, but sooner or later the 'next big thing' in crypto will appear and BRC20 will stop being used and fees will drop and things will get back to normal. Next week? Next month? Next year? No idea, but it will happen.
-Dave
You are right, that's guaranteed to happen over time if we don't start WW3. Basically it is like an advertisement for ltc and doge.
That's what I am saying constantly and I think it will be good if we increase the block size but I remember you said that was pointless but didn't have time to discuss how high block size won't lower fees but I'll be glad if you have time right now to explain that. I think I was saying the issue is BTC is an oil freighter. Really good for security and large sends of high value. but it sucks to use an entire oil freighter to move a quart of oil.
BTC sha-256 10 blocks an hour DOGE/LTC scrypt 120 blocks an hour
this is the dynamic (in my opinion) that drives the issue. BTC more gear and more more security 12 x 4mb blocks less space for tx Doge/ltc less gear and power less security 120 x 4mb blocks more space for tx So you have 1 mill in coin you say fuck it do btc I want security I will pay with btc so you have 10 dollars in coin you should say fuck high cost security I will pay with LTC/Doge this dynamic can not go away via bigger blocks btc goes to 8mb vs 4mb we double the storage. ltc and doge laughs does nothing and now has 6x the storage still 6x better for small sends. btc needs to go to 64mb and that is only 8x the storage it has now ltc/doge does nothing because they still have 1.5 the tx room at no programming or any other thing. So expanding the block size to 128mb would get you at more storage for tx then ltc /doge or simply push use a smaller delivery system for small value.
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1813
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Bitcoin / Bitcoin Discussion / Re: How high can the transaction fees become?
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on: November 18, 2023, 07:41:10 PM
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It is an easy fix stack your btc and leave it alone in a cold wallet. think store of wealth.
Keep small amount of btc usdt ltc doge in an exchange like coinbase. think small buys sells etc low value etc.
If most people did this the high fees would be a non issue for most people.
If you insist on being a btc on chain only and nothing else you are feeding into the problem.
Here is an example I am trying to win an auction. If I win the price may be 0.0003 btc or about 12 dollars. if fees are at 100 sats that will be 0.000226 or close to 9 dollars.
the seller is willing to take doge or ltc
fees will be well under 1 dollar.
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1814
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Bitcoin / Bitcoin Technical Support / Re: [Oct 2023] Fees are low, use this opportunity to Consolidate your small inputs
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on: November 18, 2023, 07:32:29 PM
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A responsible way is always send with a trezor. It has a boost option so problem is solved.
Man philipma1957, I'm surprised you say that as if Trezor is the only option that RBF allows, especially with the anti-privacy turn they've taken lately. The point is to leave RBF enabled, in case you have to bump the fee later, but there are many options other than trezor. I said "a responsible way is always use a trezor to send as it has a boost option." that does not mean "Trezor is the only option that RBF allows, especially with the anti-privacy turn they've taken lately." it means "a responsible way" which means there are other responsible ways. I own multiple Trezor models as my only hardware wallets. Thus I will only recommend what I know works. Since I do not own any other hardware wallet I do not mention any other as good. So "a responsible way" is always use a trezor with active rbf. if others want to testify to other responsible ways cool. "Trezor model 1 works fine with rbf" as tested by me.
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1815
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Other / Meta / Re: How does total time logged in count?
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on: November 18, 2023, 07:00:17 PM
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yeah I never ever ever log out unless there is a power outage I have been logged on since aug 2012 which is about 11 years 3 months. I think my log in time listed is 500 days.
I am at ::
Total time logged in: 487 days, 7 hours and 1 minutes.
about 16 months time.
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1816
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Economy / Services / Re: [CFNP] SINBAD.IO [Mix Your BTC Quickly] Signature Campaign | Up-to $225/w
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on: November 18, 2023, 06:54:11 PM
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We will be paying 1715 posts out of 2123 posts this week. Thank you all, it's a great number.
Well, it seems like @philipma1957 is always making 20 more posts than me every week. Where are you posting, so I can see if I can follow you!? Every week blasted nuclear boomb with @philipma1957... also, @philipma1957 is the another nice guy. an active person gold man.. I try, but I am semi retired. I do the mining and bitcointalk so the time available for posting is much greater for me than most other people. I always like to post between bitcointalk and other websites I am very likely over 70,000 posts.
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1817
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Bitcoin / Bitcoin Technical Support / Re: Raspi 4 for Bitcoin Node: Still Compatible?
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on: November 18, 2023, 06:41:28 PM
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[...] lastly I have been getting used laptops for the last few years which I think are the best choice.
In principle, this is actually a very good and, above all, cost-effective idea. But aren't the devices significantly higher in terms of power consumption than a Raspberry, for example? At least if the laptop has a dedicated graphics card, that's a few watts that the laptop needs ... In my country, unfortunately, the energy costs actually play a (rather huge) role in the profitability calculation ... well if you are 50 cents a kwatt or more and burn 10 watts an hour it is 240 in a day or a kwatt every 4 days. say 100 kwatts in a year. round up. so that is a $50 a year cost. my home is 14 cents not 50 cents so I am about 14 a year cost for a rasp pi and maybe 2x that for a laptop or a dell tiny so 14 vs 28 and the 28 cost unit allow me full pc use. vs 50 against 100 if you are 50 cent power cost. I am not sure how much over 50 cents a kwatt you could be. found this via google https://worldpopulationreview.com/country-rankings/cost-of-electricity-by-countryTop 10 Countries With the Highest Electricity Costs:* Denmark — 0.538 Germany — 0.530 United Kingdom — 0.479 Austria — 0.471 Italy — 0.470 Belgium — 0.452 Bermuda — 0.395 Spain — 0.373 Cayman Islands — 0.366 Czech Republic — 0.367 So based on that above the laptop could be as much as 107 a year to run. based on a constant 20 watts and the rasp pi could be as low as 53.80 based on a constant 10 watts. I am going to hook my laptop to a meter and see what it burns.
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1820
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Bitcoin / Development & Technical Discussion / Re: NFTs in the Bitcoin blockchain - Ordinal Theory
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on: November 18, 2023, 05:43:51 PM
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I need to go to ordiscan.com for that? Immutability right? So in other words, there are no actual proofs of ownership, because I could as well launch my own digscan.com and show people their imaginary "super special" sats.
I congratulate you guys for being so smart, but no complements for miners, they are just eating their own tail like a hungry snake, not realizing it's their own body.
It is not miners. It users that insist on thinking that it is okay to move small amounts of btc. 1)Ban all btc sends under 0.0001 btc = foolish users not miners 2)ban all zero fee white listed trans actions = pool owners = very rich people that may or may not mine commerically 3)make 0.0001 the smallest fee possible If you do the three above things would change, but scrypt's 12x blocks per hour edge will still exist so small fee small value sends will always work better with scrypt.
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