The only viable use of Bitcoin today is for a meme investment instrument. And while banks can have risks for those billions of average Americans who have >$250K in cash (or >$500k in stocks) to hold, and they are unable to, say, use a multitude of banks to get around this because they are low IQ, there are thousand of other things one could invest in that don't involve a bank, like real estate, diamonds, gold, baseball cards, paintings, futures contracts, horse betting, etc. etc. etc.
nope.. you still need to learn economics and basic maths firstly there are only 330m americans in total.. millions not billions.. with ~20% too young or too old to care abut international currencies so lets call it ~270m viable americans of a range of IQ.. then only 2% of that have a income or wealth range to afford $250k in cash so lets call that 5.4m viable americans with a range of IQ then having a low IQ is about 10%.. .. lets say 540k americans that fit your niche... far less then your billions of average americans(that cant possibly even exist) Also, an L2 is a centralized digital currency that carries with it none of the advantages of Bitcoin since there is a "layer" there shielding you from it. It's like locking your bicycle with two different locks in sequence and trying to claim the advantages of both: but if one fails they both fail. Using an L2, like using a broker like Coinbase, like using the Bitcoin ETF, are all the same as not using blockchain at all. Indeed, that people have to reach for these solutions underscores the tininess of the usage niche where Bitcoin lives. Not too many people need to evade the government and/or want to.
'L2' is like locking your gold up in a vault and then playing with promissory notes, using a measure thats not gold flakes within a community, but promising the bearer of the note some gold in the future.. and look how that ended.. when people failed to grasp the importance of holding onto gold and instead thinking playing with promissory notes was more important, especially failed when they changed the pegged rate of promissory note units(msat) vs gold units(sat).. guess who got to keep the gold |
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main challenges is finding the novel, unique opportunities that are not already flooding the consumers eyes and minds
anyone can be a business man by opening another business of an existing industry, but finding the next big thing is the challenge
other challenges is finding the right talent to push the opportunities forward, many just want to do minimal work for a stable paycheque, rather than risk a new career in a yet to be decided industry
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1 litre of diesel = 0.3kwh
1gal of diesel = 1.134kwh
based on uk and us prices you pay alot more via generator than grid based electric
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decentralised blockchains can be used in a way to both time stamp some data and also archive it in a way that the original archived version cant be edited later
Timestamping is indeed an useful feature in some cases. Basically what you can prove is that some information existed at some point in time. An entity also can prove it knew this information at a certain time. I think this is however a very small subset of fake news that can be really mitigated by this. Instead of photos like in the example you provided, I think the main application would be fake statements in the form of "I never said X". But it needs the collaboration of the "celebrity", because it would have to sign the information at the time they said/wrote it. Or of some "authority", like a journalist, who may in addition sign the information. well this is where genuine honest news should only publish things they can prove. yes fake news can say that d5000 is in a sexual relationship with andrew chowe. offering no proof, and yes idiots would beleive it and then use this statement as the gossip to then spread the myth as fact.. however if genuine news published fact with a source reference and such source reference could be accessed easily by readers, then it helps determine which news media to trust/read in future and which media is a dogs pile of crap to not look at that way people learn which is fake news even easier by seeing which news/media backs up their publishings with proof especially proof that can be tracked and in a way thats decentralised and immutable years ago investigative reporters didnt just write stories, they investigated and included quotes and statements and proof. now social media just write anything and call themselves news media journalists.. where by idiots beleive fake news because another idiot calls themselves a journalist the abuse of "freedom of the press" has lowered the standards of whats "news" and so to improve integrity of news stories, including sources/references/proof would help aid the general publics awareness of who's not fake .. you can never remove fake news from the internet. but you can lower the chances of how viral it gets by people becoming aware that certain things are not backed by proof, so not worth reading. even i wish that even the BBC news, fox news etc would whilst talking about a news story during their broadcasts, have a QR code at the bottom of the screen where by it takes viewers to all the statements and quotes and proof that went into their 2minute broadcast of the story.. because many times they just talk about headlines and then move to next story, leaving people to speculate.. even when the story is true.. it would be great to actually see more detail and showing their research |
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so say for instance someone took an original photo of a celebrity, sat alone at a beach. they* could timestamp the hashfile of the image and also decentralised data store the photo.
*they=source photographer/celebrity involved(to protect their property/likeness/copyright)
there are ways to have identity verification whereby the original source participants sign to say they are the copyright owners and the celebrity agrees that the image is genuine
Is this different from social medias with check marks for verified accounts and community notes to fact check what is posted with previously available information? Your suggested system seems to depend more on the community than the blockchain. oh please, learn how blockchains work it does not require twitter users to manually acknowledge things with human eyes and voices learn about keypairs, addresses, signatures learn about hashes, timestamps, sequences of events |
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its alot quicker for a hacker to:
get to know you, ask you to download a file he pretends is something of interest, but in actual fact is a tool that allows him access to your computer
get to know you, tempt you into using their website as a exchange and persuade you to deposit funds(to an address of the hacker/phisher)
get to know you, learn your home location, arrive at your house and steal your device
or
they can brute force all possible combinations and make it a project their children, grandchildren and descendants of thousands of years to work on
or
they can brute force all possible combinations and randomly come across someone else keypair first and give up finding yours specifically
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decentralised blockchains can be used in a way to both time stamp some data and also archive it in a way that the original archived version cant be edited later
so say for instance someone took an original photo of a celebrity, sat alone at a beach. they* could timestamp the hashfile of the image and also decentralised data store the photo.
*they=source photographer/celebrity involved(to protect their property/likeness/copyright)
there are ways to have identity verification whereby the original source participants sign to say they are the copyright owners and the celebrity agrees that the image is genuine
it doesnt need to be some elite governing central group being judge of authenticity..
thus when editors use AI to photo edit someone to be in some sexual affair by putting another person into the photo. the blockchained version of the photo can corroborate that the AI generated photo is not the original and that the original photo is genuine
so yes there are things blockchains can do
however, what it cant do is change someones misinformed opinion thats not based on facts/data
it cant stop idiots spewing bullcrap comments that are not backed up by any source, which is why when you read any news, try and find some source info backing up the story or debunking it
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if you have a supermodel on your lap but she isnt entertaining you, so you come to this forum.... its time to upgrade your model
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Trying to play devil's advocate here, could Bitcoin be the de-facto currency of the "criminals"?  That's not for me to answer  . The way I see Anton's proposal, it's just as if every nation-state is trying to jump into the party and have a slice of the Bitcoin cake and this is fueled by how much Bitcoin has progressed and for countries to see potential in creating reserves for Bitcoin, I feel it won't be long before there'd be a struggle for who owns the biggest Bitcoin reserve and it could lead to a certain desire for monopoly? Anton is just aligning his proposal with the Central Bank of Russia's desire to integrate digital assets into international payment systems so it's a question of if his proposal would be looked into or if it would just be yet another individual to bring up the idea of their country having a Bitcoin reserve like we've been hearing of late. look at the documents of the BIS(bank of international settlements) it governs the regulations of central banks international reserves https://www.bis.org/bcbs/publ/d580.pdf (jul 2024) all countries central banks have to declare their holdings of crypto from january 2025(if they have over 0.3% of fiat reserves in crypto) and they are allowed to purchase upto 2% of their fiat reserves in crypto but would need to sell said crypto once the crypto prices total 5% of their fiat reserves, whereby they can only re-purchase crypto if the amount drops below 2% of their fiat reserves again there are 2 groups 1=stable coin based backed by countries crypto(this would include usdt and also countries own cbdc) 2=instable coin such as bitcoin, ethereum(this would include direct holding like the coin itself and indirect like ETF's of said coin) the threshold is 2-5% of total fiat value of instable crypto whether in direct coin or ETF. it does not mean upto 5% in bitcoin and 5% in btcETF and 5% in ethereum.. its 5% TOTAL in all crypto whether direct or indirect |
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bitcoin has changed alot in its near 16years, however mainly since 2017 onwards not for the good
bitcoin was measured in 2010 to have the possibility of 1mb of data allowing for over 4000tx, and yet with the changes since 2017 we have not seen a average of 1mb=4000tx, heck we are at a possible 4mb allowance with not even 16000tx average, not even 8000tx average
infact the main reference client(core) does not even do its job properly. it doesnt count every byte, it doesnt even validate every byte, its not even coded to ensure every byte serves a lean purpose to allow efficient transfer of sats from source address to destination address..
it has moved away from its purpose and instead has become something that allows junk bytes to be added at a cheaper fee rate than transactional data. the politics governed by core devs have allowed bitcoin to be less efficient, purely because those governing cores development are sponsored by corporations that want to promote other networks as the solutions to where users need to move to.. and its a shame
we should be actually petitioning, scrutinising, reviewing and criticising the core devs when they made and make plans that dont help bitcoin become better.
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care, respect and be proud of yourself more than the expectations, wishes of others
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Since America doesn't seem to have a folklore figure like Mulan,
really? american folklore translated into a disney character... pocahontis |
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aww it is cute to see the young idiots think they have found solace in the cult/social trend that died out over a decade ago called the freeman/sovereign movement...
spoiler alert: there is no hidden bank account you can use if you join the cult
spoiler alert: courts dont bend over backwards and set you free if you just say you are in the cult and that the court has no jurisdiction
spoiler alert: operating a motor of any kind on local government maintained property, means that you DO have to follow their rules
spoiler alert: pretending laws dont apply to you doesnt absolve you of the laws, infact it can get you in more trouble ignoring laws
spoiler alert: the sovereign/freeman cult movement isnt a loophole of government laws/jurisdiction.
spoiler alert: other cult members wont magically appear to defend you and pay your fines/bail/legal costs
what you do find is that by admitting you belong to a cult, malicious people note that you are naive and easily led and put you on a blacklist of potential victims, targetting you for scams and malicious acts
you become a target for advertising by glorified masseuses promoting animal medications as cures for human cancers/viruses. telling you to take these erroneous described medications daily as a preventative supplement.. demanding you to pay them continuously, pretending you then dont have cancer/virus because they prevented it.. rather then you not having cancer/virus because you simply didnt have cancer/virus when you started being duped by scammers
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Or maybe let's just collect some funds and then we all see what we can do with that funds ?
so now you want people to give you funds with no plan at all... YOU ARE DESPERATE. get a job, stop scamming again you are not worthy of being a funds manager.. stop pretending.. your not good at it. you got called out, accept your failure and try to improve your life instead of scrounging off of others if no one locally to you would give you a loan, help find you a job, offer you a business opportunity, then it reveals alot about you as a person. no stranger from a remote location would dare trust you. accept your defeat and try to do something right for yourself |
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full quote Regular readers of FT Alphaville may have formed the impression that its current and former writers are united in scepticism about crypto in general and bitcoin in particular. This is correct.
FTAV posts between June 2011 and today may have communicated the idea that bitcoin is a negative-sum game being played on a protocol that’s very clever and hypothetically useful as a unit of account, but is chronically inefficient as a conventional means of exchange and is compromised as a store of value. Our posts may also have promoted the idea that the price of a bitcoin is an arbitrary hype gauge that’s disconnected from any utility the token may have, because it’s trivial to duplicate the utility provided by said token, so any intrinsic worth comes from the sunk costs of infrastructure alongside intangibles like regulatory acquiescence, interconnectedness with mainstream financial systems it was once sold as being the antidote to, and the souvenir attraction of “being the first”.
We stand by every single one of those posts.
Nevertheless, with bitcoin’s price recently crossing $100,000, a significant number of commenters seem to feel they deserve an apology in light of our longstanding cynicism, so here it is:
We’re sorry if at any moment in the past 14 years you chose based on our coverage not to buy a thing whose number has gone up. It’s nice when your number goes up. And we’re sorry if you misunderstood our crypto cynicism to be a declaration of support for tradfi, because we hate that too.
they are not changing their mindset, they still stand by their cynicism, criticism, scepticismthey are just apologising that any readers who read their articles chose not to invest back then.. (victim blaming) |
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In Q1 of next year bitcoin price might reach 120k
before testing higher levels near $120k.
potentially reaching $120k although I am pretty sure it will not happen anymore this year.
The most I'm expecting from Bitcoin is to reach $120k,
$120k you guys are thinking too small during the last cycle the hashrate of 2021 implied that at the excessive electric cost of $0.40/kwh and hardware spread over 2 years, gave a bitcoin mining cost of the most costly electric on the planet of $75k/btc and guess what the ATH tested at.. $70k there is a reason why if everyone on the planet can mine for under $75k/btc then the amount of potential buyers dries up at near that amount as even those with a $75k mining cost think that $70k is discount and still worth buying, until its not well at this years hashrate and this years excessive mining costs where most expensive price to mine is... is $330k/btc right now so there are many places where there are people willing to pay alot more than $120k because its still thought of as discount compared to mining for instance including hardware cost spread over 2 years.. any country whos industrial rate of ongrid electric is $0.14/kwh or more, has a higher mining cost than $120k/btc so all them countries with electric more then $0.14/kwh is going to be happy to pay more then $120k/btc and still feel like it is discount compared to mining the UK for instance has a $0.32/kwh industrial electric rate. meaning they have a mining:market break even rate of $230k/btc so folk from the UK would be willing to pay upto ~$200k before deciding if they should ramp up some miners and stop just buying from the market yes finland, sweden, norway, canada, usa, newzealand and a few others wont help push the price up as they would mine for less but there are many countries like japan, uk, germany, italy, greece, france, luxemburg and many others that would pay more then $120k/btc |
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all central banks on the planet have to declare any bitcoin holdings by january 2025
and the can only BUY crypto to a total of 2% of their fiat reserves, and if the price increases to represent 5% of their fiat reserves they have to start selling coin to keep value stored as coin below 5%
so expect many more central banks disclosing crypto holdings soon enough
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marriage is where 2 people become one unit.. marriage unites couples
if you are not at a point in a relationship where both of you want to share everything, for better or worse, richer or poorer, sickness and health.. then your not ready to marry them
if you cant trust your girlfriend with your phone, passwords, and anything in your life that is sensitive then dont marry them.
and whilst not married, dont share sensitive stuff like finances.. dont even get a joint mortgage with someone that is just a girlfriend
if you cant trust your wife, then you have much bigger problems than your bitcoin wallets security
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It’s misleading to think they really own that Bitcoin. It’s a company holding it on behalf of investors, so the true owners are the people who invested betting on the value of bitcoin.
not misleading at all investors of ETF dont own the bitcoin.. heck even balckrock dont own the bitcoin firstly share holders of ETF have absolutely no ownership rights that their share are bitcoin ownership legal claims they dont even get voting rights of the trust. they dont even get to have a say on blackrock business matters ETF shares are just financial gestures of something that will mirror the bitcoin price at a pegged rate blackrock choose secondly sponsors/agents buy bitcoin and then deposit it with coinbases internal system which then moves the bitcoin to coinbases provided address , where coinbase notifies blackrock of said deposit to trigger blackrock to get a receipt that sponsor/agent X put coin into this coinbase custody system for blackrock.. blackrock then in their ETF platform give sponsor/agent X a basket of shares at a pegged rate meanwhile the coin is in addresses where COINBASE own the keys.. not the sponsor, not blackrock #not-your-key-not-your-coin coinbase have the keys so its coinbases coin based on blockchain data, again emphasis: #not-your-key-not-your-coin and it would be coinbase that would CHOOSE to then honour any non blockchain data contracts(such as the private contracts with blackrock) or blackrock would have to take coinbase to court to try and convince a judge to get coinbase to move coins if coinbases chooses not to honour other contracts outside of the blockchain but based on blockchan data, coinbase owns the bitcoin for blackrock to claim full or part ownership of bitcoin on the blockchain they need to be the privatekey owner or be part of a multisig of equal/greater signing permission |
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Franky, Bitcoin just crossed $100k and you're still all uppity, trollish and upset... Why do you feel the need to be so insulting and demeaning all the time? Give it a break for like 10 minutes. You'd be a much more effective "educator" if you could simply talk to people they way you would want to be talked to.
i give people many chances in a polite manner, until they show their ignorance and their real agenda.. then i dont hold back even you know, out of the many thousands of members here, i only show my negative feelings to only a few dozen known ignorant people i dont need to be polite to the ignorant nor fear calling them out as such if they dont like being called it, they need to look at themselves and realise why, and then improve themselves to avoid being ignorant if only those people didnt talk ignorantly then there would not be a issue dont treat the ignorant troll as the victim to then pretend im the troll.. he is the one that refuses to learn about bitcoin, even though he is on a bitcoin forum that discusses topics of bitcoin its like an idiot that goes to a car website but refuses to learn to drive nor learn anything about how cars work.. but still then wants to talk about how he thinks cars are valued and sold and used and made and, etc.. .. people with car knowledge would call him out on it if you want to kiss, admire, love and adore ignorant people (that have had ample opportunities and been given good advice numerous times politely previously) .. thats on you |
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