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1161  Economy / Speculation / Re: TA indicates a bull run is coming on: July 13, 2020, 02:22:35 PM
exactly what i wanted to say today. i wanted to start one of my FOMO topics here which i always make during times like this. there is certainly a strong buildup in the market now and it could turn into a good momentum that could follow the same previous patterns including the summer of 2019 pattern and before you know it we see all the walls at $10k, $10.2k, come crumbling down and we find ourselves between $12k to $14k in a day or two.
1162  Bitcoin / Development & Technical Discussion / Re: BIP numbering and status mess on: July 13, 2020, 02:14:44 PM
if you feel like the status of any of the BIPs is wrong (or find any other mistakes for that matter) you should open a pull request on the same github repository about that mistake.

for BIP-174 you may also wait for achow101 to come around and make a comment since he is the creator of that proposal.
1163  Bitcoin / Bitcoin Discussion / Re: Cryptocoinopoly - Do you consider it a good idea? on: July 13, 2020, 01:38:49 PM
Play with or without real cryptocurrencies.

will this be player versus player game or player versus the house? because in first type i would be curious about how you are going to make money if it is just players playing against each other.
there is also the matter of fairness in games like this since it is not just the player's luck that matters but how others play can affect their outcome too.
if you could come up with a provably fair system that all could verify other user's actions (maybe combine all seeds?) it could be an interesting game.
1164  Bitcoin / Development & Technical Discussion / Re: BIP numbering and status mess on: July 13, 2020, 01:28:02 PM
some of the gaps between numbers is because they wanted to leave room for similar BIPs to be together. for example BIP n be about a certain topic and n+1 be about the same topic too. like how BIP-32, 39, 42 are all in the same range and close and are about HD wallets.

as for status, sometimes BIPs aren't accepted by the community or remain unused so they never reach "final" even if a long time has passed.
1165  Bitcoin / Bitcoin Discussion / Re: Question about rollback of the btc blockchain on: July 12, 2020, 03:19:57 PM
there was one case which may be categorized as a roll back but it was mostly a group of nodes that went on an invalid chain. it happened in early years and it is referred to as the "overflow bug" where due to a bug a miner created a bigger than allowed number of new coins which made its block invalid and other miners built on top of that invalid block and created an invalid chain which had to be discarded.

in my personal opinion this can't be categorized as a "roll back" because those blocks were invalid.

Quote
Further update: Binance CEO Zhao said the company will not pursue a rollback of the bitcoin blockchain.     
this is a lie that they spread to cover their embarrassment. they didn't stop pursuing rollback! they faced the reality that is is not possible to do so and every miner they tried to bribe laughed at their proposal.
1166  Economy / Speculation / Re: BTC Keeping it's limitaion Between 9--10K on: July 09, 2020, 04:50:50 PM
actually what happened was last time price failed to go any lower than $8800 despite all the power that was gathered by all the dumpers and it jumped back up to $9000 and continued rising and now it has reached higher levels which may continue rising or not.

reaching $10k and not breaking it won't change anything and will not mean fast drop to whatever lower price. it simply means the same repeated pattern will repeat again and again until it breaks out and reaches $13k.
1167  Economy / Speculation / Re: Bitcoin is likely to reach $ 10,000!!!! on: July 09, 2020, 04:26:08 PM
unless you are day trading in this very tight range and hope to sell at $10k and buy back again in $9k-ish reaching $10k means nothing. even a little higher than that is still the same. the only important thing is to break it and keep the momentum while reaching the next target at $11k. otherwise we have been hitting $10k and coming back then hitting $10k again for a while now. and that's not something you can predict with TA!
1168  Bitcoin / Development & Technical Discussion / Re: Encrypting messages question on: July 09, 2020, 03:13:17 PM
Does this way of encryption have a name?

Elliptic Curve Integrated Encryption System or ECIES for short. it is defined in the Standard For Efficient Cryptography 1 section 3.8 and i believe that is the algorithm that Electrum uses too.
here is a wikipedia link: https://en.wikipedia.org/wiki/Integrated_Encryption_Scheme
1169  Bitcoin / Bitcoin Discussion / Re: Bitcoin - Revolution or Evolution ? on: July 09, 2020, 03:02:01 PM
Many countries absolutely banned Bitcoin when they realized that it was a threat to their local currencies. Bitcoin survived in countries where they defined it as a commodity and not as a currency.

"many" is an overstatement. i have only heard about 2 or maybe 3 countries that have absolutely banned bitcoin the rest of the 190 or so countries have not!
many countries actually haven't taken any kind of firm stance about bitcoin whether for it or against it. they remain mostly undecided and have allowed it to run its course for now.
some countries have actually accepted it as a currency and have been happy about it.
some countries have called it weird things like commodity, security,... and it was mainly for tax purposes not an agenda.

Ok, this is absolute BS.... Bitcoin was banned in most countries for a very long time... and governments was very hostile towards it. Things only changed a little in the last 6 years or so.. https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

The tax on bitcoin is not a problem at all... most currencies are taxed with some kind of VAT system... so it is not hard to tax it at all.... it gets tricky when you tax it as a commodity, because capital gains comes into play and also losses incurred in trading. (this makes the tax process more complex)

You have to put a little bit more effort into your posts for the highest paying signature campaign on this forum my friend.  Wink

i think you need to go and take a look at the link you posted here yourself. i counted and there are only 7 cases listed as "illegal" which still doesn't count as "many" when it is out of 190+ countries.
you can also look at the map for a fast visualization. hint: the red is ban cases:


keep in mind that being hostile toward something is not the same as "banning" it and also banks being legally prohibited to invest in bitcoin or the banks prohibiting their users from using their services to buy bitcoin is not called "banned" bitcoin. my bank doesn't let me do certain legal things with my money either but that doesn't mean those things are banned. banks don't set the law they can only define what kind of services they offer and don't offer.

as for taxes i didn't say it was a problem, i said their definition is like that for tax purposes because it is easier to tax a commodity,... than to tax a currency.
1170  Bitcoin / Bitcoin Discussion / Re: What's up with the need for tBTC? on: July 09, 2020, 02:47:38 PM
  • Do i tell new people i no longer lend out tBTC.
  • Do i start doing "backgroundchecks" that cost a lot of time and effort, especially for a free service.
  • Do i keep lending out tBTC, eventough part of it might be used to scam... But then again, allmost everything you lend to anybody can be used to scam in one way or another...
I haven't got a clue... Does the good outweigh the bad, is it worth my effort,...  Sad

it is hard to say since it could take some effort.
i'd say it depends on how many coins they are asking for and who they are. for example if a known developer were to ask for coins or an anonymous person. and there is a difference between a small amount and something like 100. the later is always shady.

and i still say that almost all cases do not need large amounts of tbtc or any amount for that matter. they can perform all their tests on regtest and generate millions of coins in literary a couple of seconds and perform their tests.

if i were you i'd demand explanation from those who ask huge amounts or even a link to the project they are developing .
1171  Bitcoin / Bitcoin Discussion / Re: What's up with the need for tBTC? on: July 09, 2020, 01:13:33 PM
Seems like a strange attack method. I mean, you have to persuade somebody to either run a wallet that's clearly marked as a testnet wallet, or you have to convince them to start the wallet with a parameter that clearly says "testnet" or you have to convice them to run a "fake" wallet...

reading some of the stories you would be surprised how easy it is to convince people of doing things that don't make any sense. for example in the following case the scammer told the victim to actually select "testnet" manually!
https://bitcoin.stackexchange.com/questions/75776/i-need-your-help-urgently-bitcoins

Quote
I was told to create a bitpay wallet & tick Testnet & Single Address. And i have received 1.182691BTC on 29/05/18.
1172  Bitcoin / Bitcoin Discussion / Re: Bitcoin - Revolution or Evolution ? on: July 09, 2020, 01:02:35 PM
Many countries absolutely banned Bitcoin when they realized that it was a threat to their local currencies. Bitcoin survived in countries where they defined it as a commodity and not as a currency.

"many" is an overstatement. i have only heard about 2 or maybe 3 countries that have absolutely banned bitcoin the rest of the 190 or so countries have not!
many countries actually haven't taken any kind of firm stance about bitcoin whether for it or against it. they remain mostly undecided and have allowed it to run its course for now.
some countries have actually accepted it as a currency and have been happy about it.
some countries have called it weird things like commodity, security,... and it was mainly for tax purposes not an agenda.
1173  Other / Beginners & Help / Re: Electrum Wallet and BitAddress Paper Wallet Creation for Newbies on: July 08, 2020, 03:44:00 PM
it is not about disconnecting from the internet, it is about going to a safe environment that you can be sure doesn't have any malware.

4. uninstall and reinstall Windows 10 (I have windows installation files too, in my usb)
this step is extreme.
the better alternative is to use a live Linux from a DVD. all you have to do is to cut of the internet connection and then boot from that DVD. then follow to the next steps

Quote
6. created bitaddress paper wallet, write the Public Key and Private Key in a paper (not print). have checked the spellings, capitalizations multiple times.
i don't see why you want to take this step. Electrum already creates a wallet for you that has a seed phrase that you can write down and use to recover your funds in the future.
it is best to write the seed down but if you wanted a single key you can still right click any address and get its private key (in your Address tab).
1174  Bitcoin / Bitcoin Discussion / Re: Top Bitcoin and cryptocurrency open source wallets on: July 08, 2020, 03:19:11 PM
As the name suggests it means that the code in which the application is built on is licensed in such a way that it is open for others to read and modify.

not true. an open source software can still have a very restrictive license that prevents others from using or modifying it without permission from the creator.
in simple terms open source only means the source code can be seen by anybody (is open).
1175  Alternate cryptocurrencies / Altcoin Discussion / Re: 60M$ Worth Bitcoins Moved to ETH on: July 08, 2020, 02:23:55 PM
this is just a paid advertisement for a shitcoin called ether. they have been doing it for a very long time now, they pay the news sites to publish this type of misinformation to help with the pump of their shitcoin.

the only thing that is happening these days is that bitcoin price is stable and like always in the past decade whenever that happens traders start pump and dumping shitcoins such as ETH and thousands of others.

if you check the altcoin exchanges you can see how shitcoins are getting pumped every day and of course ETH overlords are scared that their shitcoin is not getting pumped as much as other shitcoins so they start spending money to stay relevant Cheesy
1176  Bitcoin / Bitcoin Discussion / Re: If Bitcoin is safe-haven, why mirror the price movement of the U.S stocks? on: July 08, 2020, 02:12:37 PM
bitcoin doesn't mirror anything least of all US stock market!
it has always been like this, bitcoin is unique and because of that it has never goes with or against movement of another market ever. the false assumption mainly started after the COVID-19 pandemic and only because bitcoin went down while others were also going down. but that is more of a coincidence than a correlation.

that is historically speaking. but also logically, there is absolutely no reason why bitcoin should follow any other market either. of course there are incidents that can affect everything like the pandemic i mentioned and affect every aspects of our lives that includes bitcoin market.

think of it this way, if it rains and both your yard and your neighbors yard get wet you can't say your neighbor's yard is following your yard and should also get wet each time you water your plants! the "rain" was a cause that affected both. other causes such as watering your plants (stock market growth, stock market crashing,...) has no effects on the other yard (ie. bitcoin market).
1177  Economy / Gambling / Re: FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest on: July 08, 2020, 01:46:27 PM
i wasn't complaining about the fee here though. i was pointing out the high fee with other services and the fact that they are trying to make profit by charging bigger fees.

in any case i like the idea of adding more things that we could do with the reward points. even though there are many good options. maybe you should give suggestions if you have any.
my suggestion would be an "earn multiplier" where the daily profit could be multiplied by using the reward points like the way it multiplies lottery tickets,...

Ooh, I might spend reward points on something like that actually. But what daily profit are you talking about? Daily interest earned you mean? That definitely might be something I spend RP on.

I suppose the site already has a time balancing its profits/revenues. Personally, I think the times are best when it's 5x (or is 6x even the highest I can't recall). doesn't take you long to get 100k RP in that case. I haven't done it for a long time but it still makes sense for small time wagers at max bonus. Anyone else here just never uses RP? Maybe waiting for another crash to exchange it at 2 sat rate?Wink

the daily profit that is given to the balance you have on the site was what i meant. it could be a 100% increase and similar to other options that exist which increase the lottery ticket, roll reward,... based on how much point you spend.

here is another idea too:
decrease the house edge for 24 hours. again similar to other options it could be spend X points and reduce by Y%. for example a 1000 PR could reduce the house edge to 0%.
i think it could be a nice incentive to bring more gamblers in too.
1178  Economy / Economics / Re: What they mean whenever they say Bitcoin was born in the wake of 2008 recession? on: July 08, 2020, 01:02:18 PM
Bitcoin literally was "born in the aftermath of the 2009 recession".

started, yes but the language suggests that bitcoin is created becaue of the recession which i believe is wrong because Satoshi started working on bitcoin years before the release which means the recession happened after he started working on bitcoin.

without saying, it is clear that the Bitcoin price movement largely mirrors the United States stock price movement.

no it does not. this is nothing except a brand new FUD that is only about 4 to 6 months old.
1179  Bitcoin / Development & Technical Discussion / Re: From private key to address [Facing problem] on: July 07, 2020, 05:49:03 PM
Wrapped P2WPKH Bech32 Address: bc1q6zz3hma6gzqk4uf5tfx8r907lsslc7uvepafx0

"wrapped" usually refers to a P2WPKH script that is "wrapped" inside a P2SH script. but the normal P2WPKH script that produces the bech32 address is called the "native" SegWit address.
1180  Bitcoin / Bitcoin Discussion / Re: Band-aid solution for the bitcoin.org dilemma? on: July 07, 2020, 05:43:45 PM
such action, alongside topics like this, would only create "dilemma" where there were none. there is nothing wrong with bitcoin.org right now and there is no indication of anything wanting to go wrong in near future for anyone to want to make any kind of move.
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