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1541  Bitcoin / Bitcoin Discussion / Re: What's with all the comparison between blockchain and banks? on: October 22, 2018, 07:12:48 PM
blockchains are technically more superior in regards to security. but fiat is politically more superior

it doesnt matter if 2 billion people use bitcoin, american* politicians are not just going to swap from a currency they control for one people control and a government cant

trying to make bitcoin government controlled is not making bitcoin take over. its making bitcoin GET taken over. which ruins the point of bitcoin

both should have their place as separate open choices and both become a safe harbour from one another.
too many people want bitcoin to have regulation because people stupidly think its the only way to make bitcoin legitimate.

they have no clue how politics work.
some want regulations because they think regulations means consumer protection. again these people have no clue how politics and regulations work.

if people want consumer protections. then they should lobby their government for consumer protections.. not regulations

*(the main country most bitcoiners are screaming and lobbying for regulations)
1542  Bitcoin / Bitcoin Discussion / Re: Make running a full node easier for a noob. on: October 22, 2018, 06:21:58 AM
I think the biggest drawback for running a full node is the 187 GB+ Blockchain that you have to download. Most people in developing nations have very slow internet and they are also capped. <The average cap being 20GB to 100GB per month> So why would you want to use 2 months worth of internet data, just to run a full node.

A lot of people in first world countries do not have that problem, because they are using lightning fast/uncapped cable.  Roll Eyes

if your a sole user and you only have 1-2 addresses. you do not NEED to be a full node. you can just run a lite node.
but if you are a merchant/shop owner where you NEED to verify you got paid and that payments are immutable and verified from hundreds/thousands of users a day then yes being a full node is more needed.
and most merchants with this much customerbase usually has electric/internet usage amounts to cope with enough

its better to have
250,000 merchants and 12,000 users all around the world being full nodes. and then 10m-10bill users being lite nodes..
than to have
10m-10bill full nodes. (research the issues of 8 degree of separation(propagation issues))
1543  Bitcoin / Bitcoin Discussion / Re: Satoshi's original idea... on: October 22, 2018, 05:55:29 AM
Transaction fees remain low enough to enable near-micropayments, but you know, sending money to friends and family via PayPal remains free.

Meanwhile the U.S. dollar remains the go-to safe haven investment and one of the stablest forms of currency in the world.

"The USD is the worst form of currency besides all others tried."

What I worry about is what happens when/if the price of BTC gets much lower and the mining difficulty goes higher -- will that lead to a further centralization of miners? I would assume so, as only those with cheap power and highly efficient systems will be able to make a profit from mining.

mining pools do not set rules. they just collate transactions in a format that must meet the rules of the network.
if its not in the format. it gets rejected.
all pools can do is decide to include or exclude transactions.

if pools start purposefully doing "empty blocks" then the network can just reject blocks. and let other pools win. even if other pools dont have the same top hashpower..
its not as simple as best hashpower wins. its about the first block that satisfies the communities preferences. and no pool with any hashpower can dictate that.

so relax about pools. its the developers who code the rules you should be concerned about.

...
what you dont realise is that when btc goes down and difficulty goes up. there comes to a paradigm where if its too expensive to mine, people will buy. when its too expensive to buy. people will mine.
this is the underlying value which over the last 11 months tested at $5800 bottom..
speculation, hype sits above this to create daily, weekly waves of price above the bottom.

so in your worry of low price high difficulty. people will buy coin until the numbers balance out again.
1544  Bitcoin / Bitcoin Discussion / Re: Satoshi's original idea... on: October 22, 2018, 05:33:51 AM
first of all micro payments. are the things that itunes, google, facebook, spotify do. where they charge $0.0001 for something(royalties per track played, payment per advert viewed, commission per youtube viewed)
do not be fooled into the myth that a micro payment is "a starbucks coffee"
the whole not fit for starbuck coffee has been the rhetoric of a group of people that want to say bitcoin is broke for normal spending

bitcoin does not NEED LN
USERS can CHOOSE if they want to use a convenient different network
LN is not part of bitcoin
LN is a separate network for any compatible coin for convenience
(much like visa is convenient for fiat. but is not itself a fiat or where people store their funds)

bitcoin had to be altered to be compatible to LN. LN was not built to be compatible with bitcoin.
many coins can use LN, thats the whole point of it.

a few people need to stop advertising LN as a bitcoin feature and treat it as a multicoin convenience service

LN is a CONVENIENCE separate network service for people that may see benefit to lock funds up with other people and use with other peoples consent and authorisation for convenience.. but not essential for people to use.
..

the point of blockchain coins is to get away from needing to lock funds up with other people,
the point of bitcoin was made to get away from needing other peoples consent/authorisation.
the point of bitcoin was to be something that is accountable and fully auditable that no certain group could just alter at a whim
1545  Bitcoin / Bitcoin Discussion / Re: Make running a full node easier for a noob. on: October 22, 2018, 04:40:54 AM
things can be sped up.

core could easily add just a bit of code and request spv data or just some UTXO set data
(request UTXO of tx's of the wallets addresspool / wallet.dat)
just to let users sign their own transactions upfront and instantly.. ofcourse if a tx they broadcast is using an out of date UTXO input the network rejects it so no harm.
but atleast being able to see balance and be able to do something upfront. and thus downloading the full blockchain then becomes a background activity.

the issue is not that its complex. its just that core are doing things the slow way and not really caring about user experience
1546  Bitcoin / Bitcoin Discussion / Re: Bitcoin Vs Real Estate on: October 21, 2018, 02:18:26 PM
bitcoin is better

many people that get a house via a mortgage can put money in for decades but never actually own the property until the final payment. this means many things
1. if they miss a few payments they lose the house and dont get anything back
2. the interest added means a $200k house is not $200k  but requires handing over more than 200k, and a hope that inflation surpass the interest added
3. other costs get added like home insurance, and other protections. aswell as maintenance costs..

think about it. having a house for 20 years you end up having to replace boilers, update/modernise the kitchen, re-slate the roof. on going lawn maintenance. and also the outside paint/decorating to hide natures ware and tear on the property

bitcoin doesnt have these hidden extra's. once you buy a bit of a coin that bit is yours. no on-going costs.
so any fiat inflation or asset deflation gives your asset(coin) instant profit
1547  Bitcoin / Bitcoin Discussion / Re: btc transferred on: October 21, 2018, 11:30:07 AM
Such large wallet movements began to increase day by day. Information should be made about what is the purpose. Otherwise, this will be considered market manipulation.

market manipulation is from GHOST payments.
EG a exchange has an account with its mysql database given funds that were not due to deposits. and then trades occur using that fake balance.

however if trades occur because someone with coin deposited their coin and wanted to do trade.. that fair trade, not manipulation.
1548  Bitcoin / Bitcoin Discussion / Re: Bitcoin Evolution on: October 21, 2018, 10:35:43 AM
Unlikely to be a coincidence. At the time there were many factors influencing price pump and drop.

the spark of the match was asics. but how big the flame of the 2013 ATH was as you said due to a few speculative factors that over priced it. which is why it corrected dow nonce the flame blew out
1549  Bitcoin / Bitcoin Discussion / Re: Blockchain or Banks: Which has a Better Security for Financial Transactions? on: October 21, 2018, 10:27:50 AM
blockchain is more secure. sorry guys above, but its true

what you dont realise is if you take away the politics and just concentrate on the actual funds security. you will see it more clearly.
the reasons banks need security guards that are usually contracted in, thus not part of "the bank". the reasons banks need governments again not part of "the bank" and why they need authorities and auditors and other third parties is because banks security is bad

its why banks are looking into DLT(closed network blockchains) so they can sack the security guards, sack the auditors reduce the political bureaucracy and just let their DLT do it all more efficiently and cheaper

banks are just a service provider offering something of a convenience. not security. these days with "tap to pay" are handled by third parties (visa, mastercard, applepay) which are not "banks" and so while convenient.. banks are starting to refuse fraud refunds and instead blame users for not securing their payment tool(nfc card) properly.

what people dont know is that banks dont actually "getback" peoples funds from a thief/ scammer. instead they just add balance into victims account. and then take it off their allocation of accepted loss account. this is not security. its creative accounting for convenience.
why waste a bankers labour time investigating loss whn they can just give a victim the money far cheaper. think about it the time to locate theives, get lawyers involved file court claims always costs mor than the average victims amount lost.

but bitcoin is self securing. you dont have to worry about target, sony, apple leaking people credit card details. you dont have to worry about identity theft to get access to accounts.. the only issue bitcoin has is its less convenient than using these third party services
1550  Bitcoin / Bitcoin Discussion / Re: Bitcoin Evolution on: October 21, 2018, 10:01:23 AM
From the history of bitcoin, we can see that there was a lot of ups and downs in bitcoin price.I believe that 2019 will be bitcoin year and  I still holding bitcoin for a huge pump.So just hold and hope.
try not to look at ATH. look for the yearly bottom
dont surf at the tip of a tsunami alone where only 0.1% of traders got to experience personally.
stand at sea water level looking up, where everyone gets to experience, and notice all the waves and water level corrections after temporary events..... its much healthier for you

2016 always above $300
2017 always above $900
2018 always above $5800 
1551  Bitcoin / Bitcoin Discussion / Re: Bitcoin Evolution on: October 21, 2018, 09:47:58 AM
2011 - 2013
This sparked off a very volatile year for bitcoin peaking at $1242 but also dropping  very suddenly. It was basically a pump and dump scheme during this time.

the october(2013) jump in price
the october(2013) release of the first asics..
not a coincidence

when hobby GPU miners realise they cant profit from mining because asics takeover. 2 things happen
1. hobby GPU miners stop buying GPU and electric to get btc. and instead just buy btc.
2. asic miners realise the costs of mining increase so refuse to sell so cheap

then speculators see a jump and FOMO to over-jump the value. (value =moon fomospeculation=mars)
1552  Bitcoin / Bitcoin Discussion / Re: Bitcoin Evolution on: October 21, 2018, 09:44:41 AM
You haven't mentioned Lightning network...

It can potentionally revolutionize Bitcoin transactions and cut down transaction fees and enhance decentralization.

lightning network is not a bitcoin feature.
its a separate work for ANY COIN to use
people can link any altcoins chainhash to lightning and do offchain transactions with others who are also wanting to play with that coin.

its only currently talked about in regards to bitcoin because just mentioning bitcoin and something else in the same sentance gives that something else instant fame.
remember bitcoin had to change to be LN compatible. not LN was designed to be bitcoin compatible... that alone along with the chainhash required code shows LN is its own network.
and lastly LN is not a blockchain. LN is not peer to peer. LN is not a push network LN needs the users to be online to accept/route payment(you cant just send funds to anyone anytime)

LN is simply a separate service network that could be used for convenience by any coin. and is not a feature that bitcoin requires. so dont over promote LN as a needed solution for bitcoin because that just warps peoples minds into thinking that bitcoin just doesnt work/is broke and needs these separate networks. by saying bitcoin is broke and needs a separate network is foolish. and thats why many people want BITCOIN evolution and not other network evolution and takeovers
1553  Other / Beginners & Help / Re: I would like to help me.. on: October 20, 2018, 08:51:11 PM
bitcoin is a currency.
do not think the only way to make bitcoin is by doing signature campaigns. thats the trade of the poor person standing on street corners asking for pennies by wasting hours a day.

instead think of bitcoin as your national currency. whatever you can do to earn national currency you can do to earn bitcoin.
you can sell products for bitcoin
you can start your own business
you can get a job paid in bitcoin
you can freelance your skills for bitcoin

too many people are told that bitcoin can only be earned via this forum and only join this forum to make fake/boring posts in the hope for a few pennies a day.

think beyond this forum as a income strategy and feel free to try anything and many ways to make some income. dont just settle for spamming a forum for pennies
1554  Bitcoin / Bitcoin Discussion / Re: BAKKT big deal? on: October 20, 2018, 08:42:35 PM
so i'm skeptical of this idea that "if you build it, they will come". if big players want exposure to bitcoin, they don't need bakkt (or an ETF for that matter).

though ETF's will be selling shares and not letting user hold actual btc.
what most people are salivating over is that successful ETF's have to lock up a hoard of coin before they begin

imagine the winklevoss with their 200k hoard. if they get their ETF accepted under a new draft thats acceptable. we will then see other companies buy up 200k+ hoards and then apply using a similar template that would too be accepted. (many companies ar waiting for first acceptance so that they can save money not applying until they se a template that works)

there is that angle, but i've always figured the winklevoss and solidx trusts were already funded.

they are.. but im not talking about the ones tha are wasting money already, by applying.. im taking about once the first mover advantage is over. then NEW applicants will buy up hoards and apply using the template that works because they seen previous applicants use such to get approval

its like why waste $10k going to university. when you can just wait it out and see loads of people release FREE tuition videos on youtube. why waste mony going to a new cocktail bar and finding a gross drink. get ur friend to try it first and then buy the one that didnt make him do a cringe-face

that said.. like i was pointing out. once one is acceptable. you will see others suddenly jump in and apply and buy up baskets of btc when applying. and thats what most bitcoiners that salivate over ETF.. because they see lots of institutions grab up btc

lastly if it doesnt hold equity in trust. its not a ETF. if its just a futures market. then its just a gambling house(in laymans terms)
1555  Bitcoin / Bitcoin Discussion / Re: BAKKT big deal? on: October 19, 2018, 11:48:35 PM
so i'm skeptical of this idea that "if you build it, they will come". if big players want exposure to bitcoin, they don't need bakkt (or an ETF for that matter).

though ETF's will be selling shares and not letting user hold actual btc.
what most people are salivating over is that successful ETF's have to lock up a hoard of coin before they begin

imagine the winklevoss with their 200k hoard. if they get their ETF accepted under a new draft thats acceptable. we will then see other companies buy up 200k+ hoards and then apply using a similar template that would too be accepted. (many companies ar waiting for first acceptance so that they can save money not applying until they se a template that works)

and if you look at real bitcoin exchanges. they only do 5-30k btc volume (lets call it 5k of individual coins being held and re-spun (arbitraged /rinsed and repeated) a day. so sudden buyups of 200k. is a big deal

knowing there is only 10mill coins that actually move regular. thats only the oppertunity for 50(max, but more realistic only 20 because users wont sell off to ETF).. so thats only an oppertunity of 20 ETF's to realistically boot up with 200k bitcoin baskets

so thats a huge chunk of coin locked into ETF causing the real bitcoin exchange market to jump in price... once the first ETF gets acceptance and then causes a snowball effect of upto 20 other ETF to follow the template to start up themselves..

as for bakkt. well we will see as its a hybrid model and yet to see the regulators poke at it
1556  Bitcoin / Bitcoin Discussion / Re: BAKKT big deal? on: October 19, 2018, 09:40:12 PM
well if you can buy real bitcoin that can be withdrawn to a bitcoin address.. and not just an ETF-esq share scheme.. then bakkt can become a big deal

reasons:
1. unlike ETF's which are KYC heavy and aimed at just the market traders with certain level of deposits. Bakkt will be aimed at people that are regular shoppers/consumers

2. Bakkt will be aimed at people that just wanna buy some at their local coffee shop. thus instantly create a "buy nearby" market for most towns in many countries. (that have a starbucks)

3.imagine it as accessible as facebook credits are compared to the hassle of buying gold shares


what do you mean by point 2? that it will be some instant pay with fiat and it goes via crypto or what else?  Shocked

its a project done by starbucks and microsoft. so imagine it as a everyday, normal people thing. and not something that wall street whales only have access to.

1557  Bitcoin / Bitcoin Discussion / Re: Is the Lightning Network centralized? on: October 19, 2018, 09:13:19 PM
i can also without LN make private payments. yep you dont need LN nodes.
people have been using multisig for years and doing things privately.
many exchanges have had multisig reserves between themselves for years without LN and without needing to broadcast every trade to a blockchain

people have actually done physical bitcoin trades (paper wallet and casascius coins) without needing to broadcast to a blockchain

in 2012-2013 i remember arbitraging between mtgox, btc-e and bitstamp without seeing bitcoin broadcast onchain


But that should not suggest that layered protocols for Bitcoin should never be explored. If the Lightning Network fails then it fails. What should matter is the base layer, it should remain censorship resistant, secure, and immutable, not taking risks like this,

oh here we go again
calling lightning a bitcoin feature but using the term "layer"
you might aswell call ripple a bitcoin layer. or circle.com a bitcoin layer
whats next re introduce NXT as bitcoin2.0

.. and then for no reason at all you introduce a random tweet from a nobody talking about a different altcoin.......
seens you really have ran down the rabbit hole of not letting people talk about the reality of lightning and to keep trying to meander the topic into a point finger at bitcoin cash..

so here goes, bitcoin cash is a separate network that does not affect anything. so why bring it up.... oh yea thats it.. 3 years of the astroturfing tactic of meandering topics..
thats a boring well known and failed tactic. to distract the conversation away from talking about real flaws by trying to make it into a bch btc social drama
(do i need to remind you of the kardashian drama trick)

how about realise that LN is not a bitcoin sole feature. it was not designed for bitcoin.. bitcoin actually had to be changed to fit LN, not the other way round

LN asks for the chain hash of which chain to monitor because its a separate network for many coins.
the network is not centralised. but the channels and funds will become centralised. learn about factories
and right now the codebase seems to be coded by the same group that were salivating over blockstream
1558  Bitcoin / Bitcoin Discussion / Re: BAKKT big deal? on: October 19, 2018, 08:40:36 PM
well if you can buy real bitcoin that can be withdrawn to a bitcoin address.. and not just an ETF-esq share scheme.. then bakkt can become a big deal

reasons:
1. unlike ETF's which are KYC heavy and aimed at just the market traders with certain level of deposits. Bakkt will be aimed at people that are regular shoppers/consumers

2. Bakkt will be aimed at people that just wanna buy some at their local coffee shop. thus instantly create a "buy nearby" market for most towns in many countries. (that have a starbucks)

3.imagine it as accessible as facebook credits are compared to the hassle of buying gold shares
1559  Bitcoin / Bitcoin Discussion / Re: Is the Lightning Network centralized? on: October 18, 2018, 10:10:49 PM
but there are things such as lightning explorers
they reveal many things, balances per channel, who the nodes connect to. they actually reveal alot more then the bitcoin block explorer does about individuals

Actually, you are right. 1ML.com is an example of such explorer. However, it is possible to open a private channel which is only known to nodes which maintain it. Such channel is excluded from routing outside payments since other nodes don't know that it exists. LND allows their users to open a private channel by adding --private parameter while opening a channel. I guess it's only useful for people who often trade between themselves and don't wont other people to interrupt.

--private make the channel private, such that it won't be announced to the greater network, and nodes other than the two channel endpoints must be explicitly told about it to be able to route through it

i can also without LN make private payments. yep you dont need LN nodes.
people have been using multisig for years and doing things privately.
many exchanges have had multisig reserves between themselves for years without LN and without needing to broadcast every trade to a blockchain

people have actually done physical bitcoin trades (paper wallet and casascius coins) without needing to broadcast to a blockchain

in 2012-2013 i remember arbitraging between mtgox, btc-e and bitstamp without seeing bitcoin broadcast onchain
1560  Economy / Speculation / Re: Who/what will fuel the next bull run? on: October 18, 2018, 07:54:30 PM
bitcoin has always been in a bull run
2016 above $300
2017 above $900
2018 above $5800

if you mean what will spark the next calve(smal bull) run up a ATH mountain and then a cub(small bear) correction.. then the answer is anyone

the 2013 event was sparked by ASICS taking over the GPU
the 2017 event was sparked by VC money buying up coin to pay off developers contracts to get a certain feature locked in by november 2017

so it could be ETF, bakkt, or other things.
but those are just temporary events..

as i said. we have always been on a solid bull run year on year. and the stable bottomline value that remains higher then previous years is only going to hold by USERS and miners who both have acquisition costs higher than the previous year to refuse to sell for less thus keeping value up by not selling for less
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