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2201  Economy / Economics / Re: Would blockchain technologies continue Its development without cryptocurrency? on: June 15, 2018, 01:22:32 PM
publicly audited chains are called blockchains
privately audited chains are called distributed ledger technology (DLT)

the data these 'blocks'/ledgers hold do not have to be financial. they can be identity, location, product ID, batch numbers, vhicle information, biomedical information.

basically any data that needs to be stored in more than one place for a 'place' to utilise the data efficiently will benefit from blockchain/dlt as it ensures the copies are valid and equal. it can help to ensure remote locations have data but dont have control of editing the data without certain permission/audits done automatically via the protocol
2202  Bitcoin / Bitcoin Discussion / Re: Satoshi Nakamoto Theory on: June 15, 2018, 01:00:28 AM
Throughout my knowledge, Satoshi Nakamoto's theology that has to do with bitcoin is creating welfare for everyone and creating an economic system and creating an economic system again because at that moment everyone is no longer trusting the bank due to the economic recession.
the ethos and theology of bitcoin was not to do with replacing a "welfare system" (govrnment social security) .. it was to do with replacing the banking system (debt and banker orchestrated theft of innocent people)
2203  Alternate cryptocurrencies / Altcoin Discussion / Re: SEC announces cryptocurrency ether is not a security on: June 14, 2018, 10:57:30 PM
it never was.. infact. if it was or wasnt was never in question

a security represents:
an ownership position in a publicly-traded corporation (via stock),
a creditor relationship with a governmental body or a corporation (via bond),
rights to ownership of a corporation( via shares)

so as long as a token does not represent ownership/relationship of a particular company.. its not a security
2204  Bitcoin / Bitcoin Discussion / Re: Market Decouples more and more from Bitcoin on: June 14, 2018, 09:35:58 PM
once btc becomes PoS 'mined' where it doesnt cost a penny to mine it.. down will drop the cost and down will come the price.

Why on earth do you think that's gonna happen? Proof of stake is, as of now, still unproven as a reliable method to secure the chain. Proof of work does, the only drawback being high energy consumption. Bitcoin will never be proof of stake. It'll be long gone by the time developers even consider going pos.

i 100% know proof of work is the best..
as for energy consumption.. at todays 35exahash.. if you tried doing that on CPU/GPU you would burn more electric then th world uses. so ASICS are energy efficient and a welcomed relief.

but if you look at the core devs recently. they have come out with soo many ludicris idea's to stagnate and cause bitcoin issues. ven blaming asics amungst other reasons to want to move away from PoW
my comment on PoS was NOT about PoS being positive but about how not only would it ruin the security of bitcoin. but the cost of creation which is why bitcoin is at a higher price.

imagine the price of gold/oil if suddenly it only cost $1 to extract gold/oil out the ground
2205  Bitcoin / Bitcoin Discussion / Re: Market Decouples more and more from Bitcoin on: June 14, 2018, 09:19:57 PM
altcoins no longer pegged to bitcoin
altcoins able to be bought direct via fiat exchanges
altcoins having thier own ATMS
altcoins using LN
altcoins using merchant tools like bitpay and coinbase

now bitcoin with all its new loophole opcodes higher fe's and stagnant development onchain. has less and less to remain the front runner.

the only reason bitcoins price is high is the cost to mine it and the remorse /refusal of many to sell for less than they bought it for.
but hey. once btc becomes PoS 'mined' where it doesnt cost a penny to mine it.. down will drop the cost and down will come the price.
2206  Bitcoin / Bitcoin Discussion / Re: 51% attack is very unlikely on: June 14, 2018, 09:12:24 PM
btc's UASF, segwit other events of august 1st was a 51% attack.. technically it was a 35% attack because core only had 35% before the group rallied the core supporters to reject blocks that dont comply to cores roadmap

this is why core should now publicly announce they will never again allow a mandatory bilateral split vent purely to get a feature enabled that didnt reach 95%.. nor even 50% of true consensus.

as long as core want to continue thinking that mandatory consensus bypasses are a tool. then 51% attacks will happen.. but silly fools will say its ok because it benefits core (but breaks the purpose of the decentralised consensus mechanism)
2207  Bitcoin / Bitcoin Discussion / Re: Bitcoin Wrong questions on: June 14, 2018, 09:05:45 PM
My point was that just because bitcoin's price was at a certain point at a certain time in the past is not necessarily a reason for it to achive the same price at some point in the future.

I was referring to the statements that many make on the forum by suggesting otherwise. Many posts regularly say things like "bitcoin was $20k a few months ago so it should be worth the same again soon", and I dismissed this argument as invalid as it does not take account of any other factors that affect bitcoin's value other than a number that bares no resemblance to reality.

kind of like what my mindset is and other peoples mindset should be
not stand at the peak of a 5 minute ATH event as if standing and staying at the ATH is the norm. looking down
 but to stand at ground level of real intrinsic bottom line cost of obtaining and looking up.
EG
2016 never went below $300
2017 never went below $900
2018 never went below $6000
2208  Bitcoin / Bitcoin Discussion / Re: Is the Lightning Network centralized? on: June 14, 2018, 08:57:37 PM
Firstly I would like to give my opinion on the lightning network and Bitcoin. Bitcoin is a peer to peer decentralized network and the lightning network is a peer to peer network as well but whether it is decentralized or centralized is still to be known. I would consider it to be a decentralized network because its a person who opens up a channel and the other decides whether to join that channel and transact over it or not. So it depends upon us whether to join any channel or not. The fees won't be an issue because it will be much cheaper than the fees on the main chain and if at all it is costlier than the main chain(which I dont think will happen) , we will still have the option to do the transaction on the main chain rather than the channel.
So if there are options then I would consider it to be a decentralized network.

LN is:
not peer to peer
its 'managd accounts where funds are locked onchain and then you gt to play around in a 'account'(channel) whereby all paymnts need a authoriser counterpart. if you want to pay a third person you need not only your counterpart to authorise your paymnt but to also authorise them spending their separate account with that third person on your behalf. if thier is a need to pay a 4th person. then you need the third persons authorisation with your counterpart, and th 3rd persons authorisation with the 4th person.  its lik playing a game of hot potato.. the funds you carry do not leave the channel. its a case of giving it to the counter part... and then the counter part uses their ow separate funds to then pay the third party. and the third party uses their own separate funds to pay the 4th party..   
it only works if everyone along the route is well funded, online and willing to use their funds for others.

not a feature of bitcoin
its not something only btc will have privelidge of as a feature that makes btc unique. other currencies will use it too

not a bitcoin solution to make bitcoin better
its its own network without the requirement of peer review. infact unless you are reading the raw transaction data of every 'payment' you have no clue what your agreeing to and what opcodes the counterpart had put inplace into the tx. its so much of a separate network that its designed to allow other cryptocurrencies to work on LN and as such some counterparts will be incentivised to screw you out of your bitcoins via many different techniques (even the LN devs are saying becareful you can lose funds on it)
and at best to avoid costs of broadcasting expensive onchain fee's leave you only able to exit via crapcoins
LN is not dsigned to fix bitcoin issues. its used to lock peoples 'store of value' and eventually hand control of that value to someone else whereby the channel only closes when one side has nothing left. (there are many punishments that can be added unless you eagerly read every raw tx. so many ways to lose funds) and by the time its in a block. its too late
2209  Bitcoin / Bitcoin Discussion / Re: At what price will you panic and start selling coins? on: June 14, 2018, 05:10:36 PM
kprawn.. also start another topic pretty much the same as this. same options. but with this as the question

A lot of people are reaching a point where they are considering BUYING more coins. I would like to know, what your "yay discount" buy
point is?

by this i mean. how much lower must it go before your tempted to buy (dont select the obvious lowest price. but choose the highest price you consider a 'discount' worth buying

I doubt that it will go down much further, but if it does... where would you start buying more coins?

then compare the answers
2210  Bitcoin / Development & Technical Discussion / Re: Is it possible to brute force bitcoin address creation in order to steal money? on: June 14, 2018, 04:19:55 PM
to brute force a specific address can happen on the first attempt.. or somewhere inbetween that and the final attempt in a few undecillion years of trying 1000 addresses a second.

2^160=1461501637330902918203684832716283019655932542976
/1000 tries a second /60 seconds a minute /60 minutes an hour /24 hours a day /365 days a year
=46343912903694200000000000000000000000 years

possible yes. if you hand the project down to your offspring and they hand the project down to their offspring and for Undecillion of generations of your family you all keep trying.

..
as for colliding. technically it has been done. because people have generated addresses using a low math formulae(no/low random number converted to a key) and so it didnt take long to get to that key

and the odds of coming across a random address is a few million(56mill) times better than trying to brute force a specific one..
but again it could happen first try or upto a few nonillion years (if done using good randomisation)

so the question. is it possible. yes..
is it practicle/probable to achieve it in reasonable time which when dedicating labour, electric and other costs make it worth doing.... no

good luck
2211  Alternate cryptocurrencies / Altcoin Discussion / Re: Bitcoin and Quarter bitcoin and so on -- Faster and faster on: June 14, 2018, 12:53:02 PM
summarising the OP's comments

sems he want one chain.. lets call it the wire transfer chain. for large amount. and a subchain(s) for smaller amounts lets call it the ATM chain

...
but then looking into it.
he is just making NEW coin and advertising an ICO for it. rather than talking about developing a btc solution that expands btc
.. (facepalm)

scamy guy pretnding its a bitcoin feature where each of his coins (42mill) are worth 0.25 btc
2212  Bitcoin / Bitcoin Discussion / Re: LN settling to main chain would cause bottleneck in blockchain anyways? on: June 14, 2018, 12:37:37 PM
if hubs have many channels and users need to add more funds oor move their funds out of a channel into other channels because certain routes are empty. then yes this can cause bottle necks.

the other risk to btc is that devs are adding features that if users are not careful and unable to read/understand raw transactions, they can become victims of blackmailers, extorion and outright theft

did you know that due to LN dvs want transactions to NOT sign output(destination) part of a tx. so that the amounts going to the destination can be altered after signing to then be able to adjust.
Quote
Procedure for Hashtype SIGHASH_NONE

    The output of txCopy is set to a vector of zero size.
    All other inputs aside from the current input in txCopy have their nSequence index set to zero

Think of this as "sign none of the outputs-- I don't care where the bitcoins go."

devs pretend this is to allow a broadcaster to manipulat who pays the onchain fee. but the reality is that the broadcaster could knock funds going to person A to zero and increase the amount going to person B up.

they also want features to not have the specific input(utxo) signed.
https://github.com/bitcoin/bips/blob/master/bip-0118.mediawiki
Quote
Any participant can take a transaction and rewrite it by changing the hash reference to the previous output[utxo], without invalidating the signatures.
funnily decker puts a human warning that PEOPLE should not use this feature anywhere else.
but its like telling a kid not to grab a cookie.. suddenly its in the kids mind that grabbing a cookie is an option.....

in a LN system where the nodes are distributed and the sourcecode is open to be altered without peer review.. if this bip is added to the protocol. then there is no way of stopping people from playing around with tx's they want others to sign OFFCHAIN because while offchain there is no code based audit/peer review of node sourcecode of an LN counterparty. and when that tx is then broadcast onchain the blocks would see it as a valid tx

 thus able to add or remove an input without requiring extra signatures after editing a tx.
devs pretend its so users can add more funds any time they like. but the reality is it can be used to remove utxo's too thus person B can remove their stake and not spend their own funds while taking all of person A's

and with all the locktimes and chargebacks and just the requirement of needing a counterparty. its obvious unless your techy that thee people not checking raw tx data to know what and HOW the tx is created/formatted and signed. someone can lose out.

for something as simple as changing
1000000bytes, 20kblock sigops, 4ktx sigops
to
4000000bytes and 80k sigops. and 500tx sigops
which could have been done ages ago

they strangely avoided all of that and wnt with the serialisd buzzwording to cover up the legacy limitation of 1mb that still exists. and then added in new features that can literally rip people off if they are not manually checking what they are signing at code level

anyway... the main important thing to know is that LN is and never was intended to be a solution to bitcoin.. its a network of its own that will allow other currencies on it. this is the whole point of segwit. to allow better identification of transaction currency (bc1q.. LTC1q) while also adding in and then hiding who gets to sign, how many signatories a multisig truly has, as well as all th backdoor loop hole victim causing opcodes that most people cant see/understand unless able to read the technical raw tx data.

while other currencies wont have these loopholes and backdoors on LN and btc bottlenecks. it will inevitably end up with people prefering to exit LN by atomic swapping to a currency thats not BTC because the devs are actually screwing up btc... not solving its issues.
2213  Bitcoin / Bitcoin Discussion / Re: Bitcoin Wrong questions on: June 14, 2018, 01:59:22 AM
So many posts recently with questions like "when will bitcoin go back to $20,000?".

It's as if people assume that, if bitcoin was a certain price in USD at some point in the past, that it must go back to that same level again.

But can't see anyone asking "when will bitcoin go back to $1,000?". It's the same logic as the question above. Bitcoin was $1,000 a year ago, so it's exactly the same reasoning.

The question should really be : "when will bitcoin be $x again?", where "x" is the price of bitcoin at some point in the past.

But, just because something has happened in the past does not mean it would, or should, happen again at some point in the future.

first of all, ignore the all time high.. thats pure unbacked speculation

anyway
just like most things in life. houses, gold, bitcoin.. there are things that create a bottom underlying value (intrinsic). catgorised as the cost of obtaining which has two parts: creating cost and buying cost

yes with all things houses gold and bitcoin there is speculation above underlying value. but lets just stick with finding underlying value.

though there are some users that obtained coins when it was dirt cheap and have held for a long time. they have come to the opinion they wont sell for less than X. or they would have already. so the 'buyers remorse' panic has probably already found its bottom level after being tested the last few months.

as for mining cost. the higher the hashrate, and the lower the reward changes per 4 years. along with the rig cost and electric. culminates to a calculation of a cost to mine btc that can be calculated. and these miners would not sell for less than it cost them to mine,

what you find is if you do some maths and work it all out you start to notice a range/area of where intrinsic value is which is where people refuse to sell for less than, as thats the support area of the cost of obtaining the coin.

s in my view i se intrinsic value, based on some maths at around the $6-10k area right now. meaning the chances of seeing $1k again would mean that the cost of mining a btc would need to drop by 6x for miners to even contemplate selling for $1k (dont see that happening unless bitcoin had major bug/flaw)
2214  Bitcoin / Bitcoin Discussion / Re: Bitcoin Analysis With ProwdClown of Trading View on: June 13, 2018, 08:38:23 PM
you didnt answer my question about you revealing the cause of octobere 2013..

all you talk about and show on your charts are numbers based on moving averages
but hey have a nice day spamming the forum with your empty charts. PS even you showing ur charts reveals the predictions you made were wrong

anyway.
while you look at historoc charts and just let it draw moving average lines. and you then just draw lines on top. real technical analysts know WHY events occur. and guess what. its NOT history repeating itself

but ill let you live in the false prophecy world of being a TREND anal. oh. and theres already like 200 of you guys around so ur nothing special
just dont try pretending your a technical analyst unless you can explain WHY things happen

good luck
P.S using fiat buzzwords/pattern recognition does not work in the bitcoin world. and i been trading bitcoin successfully since 2012.
have a nice day

you may see the ranges, the movements.. baste on chart data handed to you. but you cannot explain the WHY.
there is nothing independant, unique or backed by anything bitcoin event related that you can source. you just want t throw out buzzwords to look good but you dont fully understand it
2215  Bitcoin / Bitcoin Discussion / Re: Bitcoin Analysis With ProwdClown of Trading View on: June 13, 2018, 05:55:36 PM
ok we get it. your a trend anal.. not a technical analyst

P.S you are just using moving averages covered up as buzzwords and acronyms. all your doing is looking to the past and thinking it repeats itself
without understanding the CAUSES of the past and seeing if those same events are the same this time.

you might as well get a calenger and play pin the tail on the donkey and then gt a 5 year old to redraw a squiggly line thats been drawn x month/years prior

take the 2013-2014 ris. do you even understand the cause of the october 2013 rise.
do you understand the october 2017 rise and why apart from a coincidental calender. the real underlying cause of the 2013 that was not occuring in 2017

do you understand this years march-junes $6k-$9k trade zone

if you dont know the causes or some specific details beyond "historic chart data" then you need to try harder and find the causes and then your numbers might have something substantial to back your opinion..
.. otherwise your just hoping to herd sheep into following your opinion to make your opinion hold water later, but where its not 'destiny' but 'self fulfilling prophecy', meaning your preaching is the cause of it following your preaching, nothing more nothing less
2216  Bitcoin / Bitcoin Discussion / Re: Why the only safe method right now is to Dollar Cost Average Bitcoin on: June 13, 2018, 02:37:44 PM
Dollar Cost Averaging Bitcoin or any alt coin in particular is not always a good idea, I would rather catch the bottom and then hold long term.

lol catch the bottom?
so you went back in time and caught the 2009 bottom of pennies
or
oh wait. that was the only true bottom..

what you are really saying is. when the price moves down, you buy..
so your saying you did not mortgage your house to buy in at one time but have put some in at one point and some more at another point and some more at another point when the price goes below a short term average (i rfer to as discount days)

you cant catch the bottom until its too late. as you only realise its the bottom after it has risen again, and risen for long enough to realise that it wont go back down again to define that past as the 'bottom' . meaning you missed it

the only way to play it safe is to not throw it all into one order and instead put funds into smaller allotments of funds and thus be in more control of buying/selling. instead of throwing and waiting
2217  Economy / Speculation / Re: Bitcoin [BTC] Price Falls Amidst Bear Market on: June 13, 2018, 02:18:12 PM
2016: never dropped below $300
2017: never dropped below $900
2018: never dropped below $6000

what more needs to be said
2218  Bitcoin / Bitcoin Discussion / Re: Why the only safe method right now is to Dollar Cost Average Bitcoin on: June 13, 2018, 02:04:51 PM
Dollar cost averaging is a good strategy for those looking to invest more fiat and those who want to lower their breakeven price but the example given is pointless. You described a period where the price was falling, if you took the same approach in a bull market you'd end up paying more than buying in a lump sum.

or the OP could be seen as, in a bull market. instead of waiting 12 weeks (where price rises) while trying to save up $900 to then buy $900 worth at week 12.. (losing out on the week 1-11 'discount' .. its better to buy $75 every week as soon as you get $75

..
but each way is different. all that matters is dont plan to put all ur eggs into one order. and then be months without any spare funds to take advantage of any movements inbetween
2219  Bitcoin / Bitcoin Discussion / Re: Why the only safe method right now is to Dollar Cost Average Bitcoin on: June 13, 2018, 01:35:29 PM
my technique is if you have $9000. break it up into 3-5 allotments

lets use 3 allotments to save explanations

so you buy $3000 of btc.. and you dont get greedy. all your looking to do is make 1-5% (prferably 1%) and just grab profit as soon as you can.
so you set the sell price at the low % increase and let it hit..  
if the price goes up. you win and then can use the $3030(1%) again
if the price goes down, so what, leave that first order at the sell price and just use another $3000 allotment at a new lower price and set that at ur low % sell price.
for fiat lovers


its way better to take 1% a few times a week than it is to throw it all into one order and hoard for months/years hoping for 200%
..
once you get the concept and can control your greed to not exceed a few %, thus allowing you to flip the funds and repeat quickly. you will see all them small percentages all add up

2220  Bitcoin / Bitcoin Discussion / Re: Cryptocurrency Market Capitalization To Reach $20 Trillion, Michael Novogratz on: June 13, 2018, 11:22:42 AM
market cap is a meaningless number

there are not $20trillion dollars held in bank accounts to back the market.
anyone promoting market cap has no economic knowledge and definetly does not understand how the bitcoin market works



i could make a coin tomorrow with 30 trillion supply.. sell one coin for $1 and BAM! instant $30trillion market cap.. yet only $1 in the bank
think about it!
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