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as we are getting closer to the halving and the recovery ends the price is starting to get warmed up for the big rises to start happening again.
on top of all that, we had all those panic sellers who are now left with a lot of fiat among them who were waiting for the dump to repeat so they can buy back.
here comes the FOMO...
surely enough within half a day price is nearly up $1000 and right now traffic to exchanges is increasing with crazy speed. the number of withdrawals are also so much that transaction fees have jumped up about 30 times...
where do you think the price will be by the end of halving event?
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if you are not a trader then your only viable option is bitcoin. you can buy it and enjoy all the benefits including the price rise in long term. but if you are a trader then your options are a lot more than just one altcoin you can trade a lot of them that are getting pumped within that day and then move on to the next pumping altcoin. rinse and repeat.
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it is not new, the scammer made the new noise about a month ago ( https://bitcoinist.com/satoshi-never-used-bitcointalk-craig-wright/) in the continuation of his desperate attempts to fool people into believing his identity fraud and he still continues providing us with fresh material to laugh at him. obviously shitty sites such as bitcoin.com love bullshit like this which is why they are repeating it all over again. |
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Say the last mined block is Block no. 628,000. Are the miners:
1. Trying to solve automatically and specifically the following "mathematical problem" aka no. 628,001 or
2. Trying to simply solve a random one and whoever finds a solution counts as block no. 628,001? It's more or less #2: whoever finds the solution creates block 628,001. i don't think we can explain mining with either 1 or 2. it is somewhere in between. what miners "solve" is partly random and partly pre-defined and similar to each other. for example in this case when 2 miners are competing for block 628,001 they both have same exact: - previous block hash (32 bytes) - target (4 bytes) - same block height number (which has to be placed in coinbase scriptsig) with block version and time also being nearly the same. so they are both hashing 80 bytes, 36 bytes of which is exactly the same and 44 bytes changing. it should be the same for any other algorithm too since it is a block chain and to be a chain there has to be a link to the previous one and we'll end up using a partially similar input. |
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it is very likely due to the influence of warm weather, which suggests that with the arrival of winter the virus may become much more active again.
warm weather may help a tiny bit but there is no evidence of it being able to reduce the effects of this virus yet. the only reason why the situation is improving in any area is first and foremost because people are more aware now and they are following the basic guidelines to stop the spread of it (wearing masks, social distancing,...). |
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nowadays people are too worried about the virus pandemic all around the world that they seem to have forgotten most things and on top of that we had the recent price drop a couple of weeks ago that has scared them into not-thinking about much else.
the interesting part of it all is that there is a big but silent accumulation going on inside exchanges and OTC marketplaces by the "wise money" to get ready for this year's boom.
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because in imaginary land anything is possible! you can imagine that ICOs are not scams and they are super profitable. you can imagine that shitcoins and copycats are excellent innovative technologies and a lot more.
that is a messed up trend that has been going on among newcomers these days. they come in and make a couple of bets (call it trading) and get lucky and win those bets (make profit) then they start thinking cryptocurrency world is this magical imaginary land where you become rich like OP.
interesting enough almost all the things OP mentions are hyped up topics ICOs used to scam people over the past couple of years!
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mainly because nobody has done it yet. what do you think Amazon is? it didn't start from out of space, some day some visionary saw the opportunity to create a service that a lot of people needed and also saw the personal profit in it so they took that opportunity by the balls and have been making billions ever since!
but also it is partly because bitcoin users nowadays are mostly too busy speculating about its price that they forget it is a currency that they can spend too so the market places are not that crowded in times.
with all that said it doesn't mean there isn't any marketplace though. for example there is a good marketplace in this forum under Goods board. there is also decentralized options such as OpenBazaar.
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that is something that you have to ask the cryptocurrency exchange that you are using or preferably go through their API documentation, if such option exists there must be a section explaining it there. different exchanges provide different API endpoints that usually don't include their disabled wallets!
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i say it isn't but when i look around i see a lot of people are talking about this for no reason. and whenever people stick to something like this and build it up a lot in their heads they end up also acting on it and then we see the price move. we have seen this many times, usually they are more noticeable when they cause a drop but they exist during rises too.
so the real question in my opinion, is how hyped up this news is going to get in bitcoin market? because if it gets big enough we can see at least a mini rally.
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this is one of those features that could be added to the new forum software since i don't think it is that easy to add it to the current one that we are using. you can check it out in this board: https://bitcointalk.org/index.php?board=167.0or even move your topic there. for what it's worth i think it can be a good feature in topics that have big pictures. |
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When I got into Bitcoin in 2013, this was the true new wild west so to speak. So what happend in the last 5-6 years?
nothing, all the things you listed here (below) are exactly the same as ever! Governments are trying to take back control with regulations and taxes.
they have been doing it long before bitcoin and will coninue doing it long after bitcoin. Exchanges requiring ID (KYC) etc. (hahahahaha fail)
exchanges are centralized places that are only used by traders. the rest of bitcoin users are not traders so they don't need exchanges and their KYC. they can also buy bitcoin P2P or get paid in bitcoin just like any other currency. Developers are requested to make themselves public
almost all of bitcoin developers and major contributors are already known! again this is not changed over the past 10 years. Previously rather unknown people. but with success in crypto, are for some reason seen as some sort of "Messiah" (binance dev for example)
anybody is free to claim to be anybody. there is at least one new idiot literary every week who claims to be an expert in bitcoin. that only makes them look bad. |
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Although the Bitcoin price declined sharply in response to the World Health Organization’s declaration of COVID-19 as a pandemic last month,
wrong. bitcoin decline after every other major market (stocks, oil, gold,...) crashed hard. then it also recovered while the rest were continuing to crash. interest in the crypto asset from the general public is not lost.
well nothing has changed so i don't see why would interest in "bitcoin" would ever change. short term traders come and go and they don't represent the "interest" in bitcoin though. In fact, some Americans are taking their $1,200 stimulus checks and using them to buy Bitcoin and other cryptocurrencies.
i somehow doubt that. of course many are buying bitcoin with their worthless fiat but if this was happening on a large scale as you claim then price should have been at least $8k by now. |
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What goatpig said.
Makes you wonder if a variation of BIP70 would work.
BIP70 increases the resistance against the man-in-the-middle attacks since it requires the communication using the server's certificate which would then be authenticated from the operating system. from what i understand it is the same as when you visit a website with SSL encryption. the way to attack this would be to manipulate the certificate authority on the OS then intercept the communication. |
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well the good news is that when the business that is hacked is very little known you can be sure that it has no effects on anything regarding the market. we saw the biggest altcoin exchange (binance) be hacked and that didn't affect the bitcoin price one bit.
in any case i am always skeptical about these hack stories anyways. many of these stories are actually the failed business trying to make some money with little effort and there is nobody to look into them either.
We should not think only in price, but a lot of people will suffer losses from this hack, people who work on the company, and maybe people who have invested money there The price of BTC doesn't matter in this case that's true and i didn't want to sound insensitive to those users' losses but lets be honest when someone chooses a less popular service that doesn't really have that much back history and not that much feedback is found about it, they should expect things like this to happen. afterall this is not the first unpopular service to be hacked easily like this. |
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I wonder, are there places to "buy" testbitcoins?
if there were any place where you could trade the worthless by-design testnet coins then the testnet network wouldn't have existed anymore. we would reset it and start Testnet 4 in its place. there are testnet faucets that give away small amounts for free. google bitcoin testnet faucet and you'll find 3 to 5 working ones on first page. https://bitcoinfaucet.uo1.net/https://coinfaucet.eu/en/btc-testnet/https://testnet-faucet.mempool.co/https://tpfaucet.appspot.com/ Or is it too easy to mine them?
it is moderately easy to mine them because of the low difficulty but it is hard because there is competition with ASICs! and also the reward is very small since the block height is so high (there has been more halvings on testnet compared to mainnet) About my issue, I just want to test how bitcoin core works for developing reasons. Should I choose regnet?
it depends on what you are doing. most tests can be done with testnet and with the small amount these faucets give you. |
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Thank you so much and our reply was helpful. However, assuming I wanted using a script on chron, to check for transations in my wallet from an address, can that be possible?
You could, for example, hit Blockcypher's address API endpoint[1] to get the latest transaction and then use it to hit the endpoint posted above to get the data you need. Then do the rest of the handling on your code. [1] https://api.blockcypher.com/v1/btc/main/addrs/1ArgjWtWL8a2yshyeJUqtTtqgqKpZFGst5the main problem is parsing the JSON response that the API sends back which would require additional libraries that are designed to do that, and i don't think it is possible to do this with a simple script. |
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bitcoin will be affected by the mass panic but there still is absolutely no correlation between bitcoin and any other markets.
Bitcoin market participants don't live in a magical crypto bubble. They go broke, lose their jobs, go mad or are looted to death just like anyone else. A total lockstep is unlikely but if the world goes up in smoke then I don't see how BTC carries skipping gaily along. but the whole world is not going up in smokes. there will only be some poor people who would get screwed over by the banks again as they keep on printing more and more money to bailing themselves out while reducing the value of fiat currency which would increase the value of bitcoin. |
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bitcoin will be affected by the mass panic but there still is absolutely no correlation between bitcoin and any other markets. the only reason why people panic is because they know bitcoin is volatile and expect the riskier asset to drop too in times of crisis and it dropping recently with the stock market crashes didn't help that superstition either.
but in the end as we saw from previous time the effects are always a lot smaller on bitcoin than they are on other markets.
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