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2161  Other / Beginners & Help / Re: How to find out your private key by SEED phrase. on: June 05, 2019, 04:06:48 PM
if you have created your mnemonic phrase (which wallets usually call seed) using a wallet  then it is best to use that same wallet to recover your private keys and corresponding addresses because BIP-39 is one of those improvement proposals that has not been implemented the same way everywhere. for example Electrum uses its own method so if you enter your Electrum seed in Ian Coleman's tool you won't get anything out of it because it is incompatible.
2162  Bitcoin / Bitcoin Discussion / Re: What is all this "Satoshi" drama? on: June 05, 2019, 03:58:57 PM
topics like this with all the historical events with dates from all these scammers are good specially for the newcomers so that maybe they see them and realize that it has been a long while that these scammers have been trying to fool people into believing their lies and steal their money.
sometimes i feel like some parts of the history like these scams, are being swept under the rug.
2163  Bitcoin / Bitcoin Discussion / Re: I read 250 comments of people saying what they learned from investing in crypto on: June 05, 2019, 03:06:34 PM
Quote
- Don't expect that the coin with best fundamentals will bring the best gains. People don't care about fundamentals, they don't care about tech. They buy the hype and the coin with most announcements of announcements.

this is very true in the altcoin market unfortunately.
but you have to be very careful about this because this comment is talking about the pump and dumps aka the manipulation in the altcoin market and we all know that manipulation is not something you could rely on. it is a very dangerous thing to get involved in too although the profits may seem high due to the massive pumps that happen in altcoins.
2164  Economy / Speculation / Re: If history repeats itself, we could be in for a rally in June on: June 05, 2019, 02:47:18 PM
Past is not a guarantee of future
I hope BTC hits at least 10k and keep the price for June, let's see
I'm not a big fan of this kind of thought, today is another time, another news, another kind of thoughts, it's not the same...

Agreed. The Bitcoin price can't be predicted based on the past charts. But I hope that 2019 turn out to be a good year for Bitcoin holders. In 2018, Bitcoin lost 85% of its value, and nosedived from $20,000 per coin to just $3,000 per coin. And this fall was not justified, as the user-base and popularity remained as strong as ever. I regard 2019 as an year of consolidation and 2020 as an year in which we'll climb new peaks.

although it can not be predicted with accuracy but we can see how bitcoin has a general trend that sticks to. in other words you can predict certain stuff from the past since it has already happened at least 6 times maybe more.

this trend i am talking about is this: price rises slowly at first and after some time the momentum grows until the rises become very fast. eventually we see big spikes where price shoots up and that is the bubble. then the bubble bursts and price starts falling and market enters a long bear market until it reaches a bottom and the same thing repeats.
.... that is why it is usually referred to as a roller coaster.
2165  Bitcoin / Bitcoin Discussion / Re: easier to maintain a bullish or bearish attitude? on: June 05, 2019, 02:32:33 PM
first of all nobody should never have only one attitude in any market because the markets themselves aren't staying the same. every single market has ups and downs, bulls and bear trends. so you can't be the only one who sticks to one and forgets about everything else.

secondly, you are looking at the solid bitcoin rise compared to the pumps of the altcoins. over the past couple of months bitcoin has risen 180% and that is a solid rise.
in comparison during the same time apart from past 2 weeks all those altcoins you named were getting dumped hard. but as soon as bitcoin price reached a moderate stability they started getting pumpd. funny thing is when bitcoin went below $8k they are getting dumped hard again Cheesy
2166  Bitcoin / Bitcoin Discussion / Re: Say it again? Bitcoin transaction fees expensive? on: June 05, 2019, 02:28:56 PM
Well, bulk transfers are definitely taking some load off the network. But I don't agree with you when you claim that people are afraid to try low-fee transactions. Last week, there were a couple of incidents when I paid around 8 Sat/Byte for my transactions and in the end they got confirmed after 12 hours. Fortunately, those were not urgent.

actually there is a lot of cases of "panic fee setting" or as the other user called it a "fee FOMO"! for instance those who are making a payment to buy something through a payment processor that has a limited time for the invoice. or mostly the traders who want to move their bitcoin to exchanges to sell. these people are making transactions on a daily basis and they wouldn't want to lose an opportunity just because they paid a lower fee.

on top of all that there are lots of bad fee suggestions from some of the wallets or even online tools like bitcoinfees.earn.com that are deliberately suggesting higher fees.
2167  Bitcoin / Bitcoin Discussion / Re: Buying Used Computer Equipment For CryptoCurrency Unsafe? on: June 05, 2019, 02:18:52 PM
I know many people store their crypto in their hardware wallets.  Some store it on their computers.  Some have a computer solely for crypto to be safe.



First off, is buying anything that used for the computer unsafe

I believe that someone who’s disposing he’s gadget has to not intentionally get a victim from the said computer equipments.but you maybe right for some reason though it’s a once I a million chances that you may choose those items that has keylog

So the bottom line is always become a security people,before buying make sure that on those legit sellers only,and if you can do buy from people that near your place

hardware can be reset and cleaned rather easily to prevent any kind of malware remaining on it. for example if you buy a second hard SSD storage device you can simply format the hell out of it before using it.
2168  Alternate cryptocurrencies / Altcoin Discussion / Re: Bitex Exchange on: June 03, 2019, 04:09:17 PM
as a rule of thumb whenever someone online or in most cases someone you know tells you to invest in a cryptocurrency because of a bunch of meaningless reasons (which in reality are their guesses and their blindness) you should stay away from that coin they are advertising to you because best case scenario is that such coins that are being advertised to you get a pump and then that's it the next move is the crash and death of that coin. and worst case scenario is that that person is advertising a coin that is already pumped and he wants to dump it so he is hyping it up. the moment YOU buy it gets dumped and you lose as big as 90% of your investment.
2169  Economy / Economics / Re: would you give your fingerprint or eye scan for a fair money supply? on: June 03, 2019, 03:50:45 PM
no i would not.
the reason is very simple, it is because we already have alternatives that are much better and provide me a much better privacy without needing me to give you my fingerprint or retina scan!
and what you are forgetting is "fair supply" is meaningless. whereas utility is the only thing that matters and as long as a coin doesn't have that utility, anything else is just a waste of time.
2170  Economy / Speculation / Re: Just Hanging On on: June 03, 2019, 03:33:36 PM
when every signal on the charts and every signal in the market from the market participants (aka the traders) is telling us that a big rise is going on with a lot of money that was waiting on the sidelines for that signal coming back in bitcoin, to ignore such things is foolish in my opinion. we are not just hanging on, we are passing by!

as for buying, of course i am buying as i have always been buying becaue i accumulate bitcoin with any extra cash i have in my pocket that i don't need. i am here for the long haul!
2171  Bitcoin / Bitcoin Discussion / Re: Bitcoin (BTC) Bulls Near Exhaustion on: June 03, 2019, 03:25:08 PM
a bull run doesn't get "exhausted" just because it slows down and has a correction on the way upwards. it is good to zoom in the charts and look at the micro movements but you also should look at the bigger picture too. the bull run is just getting started and it is getting "warmed up" instead of being "near exhaustion"!

right now the market is just calming down for a couple of days to build up the groundfloor for the next batch of rises. and if nothing unexpected happens we can see $9k+ pretty soon in the next move up.
2172  Bitcoin / Bitcoin Discussion / Re: Thoughts on Satoshis Holdings and Supercomputing on: June 03, 2019, 03:03:55 PM
(1) if he was holding all his coins in one address then there wouldn't have been this much speculation! all these speculations are based on making a guess about how many people were mining in first years then guesstimating how many blocks from early years were mined by Satoshi then multiply that by 50 (the block reward of the time) to get his total guesstimated coins.
note that each block that is mined its reward goes to a newly generated address so if we assume 1 million is correct then there are 20000+ addresses involved.

(2) as far as i know the "acceleration of computational speed" has not slowed down, it has stopped a couple of years ago. what they are doing is that they are increasing the number of cores that do the calculation at the same speed as before.
as for the question i can't answer it because it relates to solving the discrete logarithm problem that relates to elliptic curve cryptography and my information is limited on that topic.
2173  Bitcoin / Bitcoin Discussion / Re: Lost Bitcoins and how they affect market in a longterm? on: June 03, 2019, 02:47:30 PM
They are not lost, the problem is that they can't be accessed, and on that way we can have maybe some higher value for bitcoins who are on exchanges and this is it, some of this bitcoin was bought on exchanges and after maybe they lost the keys or hardware where the wallet was.

This is exactly what I said "I understand all lost BTC are in blockchain, they are not "lost", but people probably forgot them or lost the private keys to access"

people define "lost coins" in different ways, some of which are even weird in my opinion like what DdmrDdmr quoted above about "coins that are not moved"!!!

the only coins that are truly lost are those that are provably unspendable. these coins include
* coins sent to burn addresses like 1BitcoinEaterAddressDontSend459kuE
* coins sent to unspendable output scripts such as OP_RETURN
* newly generated coins that are not claimed by the miners (ie. a block reward that is not claimed in coinbase or claimed smaller than it should be).
(there may be more but i can't think of them right now).

anything else is speculation including coins that people lose private key to.
2174  Bitcoin / Bitcoin Discussion / Re: Is Paul Solotshi the pseudonymous Satoshi? on: June 03, 2019, 02:40:41 PM
if we start calling everyone who is named Satoshi or has a name that is similar looking or sounding like Satoshi then we will have to go through the list of names for at least another 10 years!

besides, the first thing you need to understand is that Satoshi Nakamoto is just a fake name so there is no way that the real personality was named anything remotely similar.
for example my name is not even close to my user name (BrewMaster)!
2175  Bitcoin / Bitcoin Discussion / Re: Lost Bitcoins and how they affect market in a longterm? on: June 03, 2019, 02:17:17 PM
it depends on how much you think is lost and whether that amount can actually affect anything. so far we are not seeing any effects (like downsides) of any losses that has so far occurred with lost coins and burnt coins so there is not much to discuss.
the only case when we can start worrying about something like this is only when a very large amount of coins are lost . very large in this context means something like 15 million bitcoins not a couple of thousands!
2176  Economy / Speculation / Re: Correction coming in the coming weeks? on: June 02, 2019, 05:18:26 PM
but this "correction" you are expecting already happened!
when price shoot up to $9100 and they cashed out their profit immediately crashing it down to $8000 that was a 10% profit in a couple of hours and was the correction that we had.
right now we have a nice slow upward movement starting from before May in $5k range and it is not showing any signs of reversal or even slow down apart from the hiccups we have from time to time.
2177  Economy / Economics / Re: Cryptocurrency users statistics on: June 02, 2019, 04:26:00 PM
The statistics are a true reflection of how mass adoption should start in the countries with the biggest potential market and strongest economic power globally.  Wink  Bitcoin would not have been this successful if it started in 3rd world countries. We see this happening with technologies like M-Pesa that was developed before Bitcoin and that only grew in African countries.

Target the large markets first and then spread out to the smaller 3rd world countries where it is needed the most. Third world countries tend to skip technologies, but Bitcoin's slow growth will make sure that they will grow with the technology.  Wink

actually bitcoin is big in many of the third word countries for many different reasons.
starting from the fact that it is decentralized and most of these  countries with corrupt government also have corrupt banks and economy. bitcoin is their people's exit towards freedom.
then we have the fact that the bitcoin price rise combined (in some cases) with the high inflation rate in these countries has made it an unbelievably good investment. like bitcoin in Venezuela or in India back in 2017 where they were paying upto 40% higher price than the rest of the world to buy bitcoin!
2178  Bitcoin / Bitcoin Discussion / Re: Whales are out of control = $500 in ten minutes on: June 02, 2019, 04:16:09 PM
it is easy to always blame whales for things you don't understand. the reality is that most of the times, they are not the reason for the things that are happening. for example in this particular case the $500+ rise and the fall afterwards was most probably a big bot freakout that is a normal thing whenever  the traders owning those bots don't expect a rise like that so they set some predefined orders to jump in when the price breaks out above their target.
2179  Bitcoin / Bitcoin Discussion / Re: Bitcoin vs Fiat (Real life test ) on: June 02, 2019, 04:04:19 PM
first of all where do you get $40 transaction fees from?! unless you have a ton of inputs, your transaction size is not going to be that big to cost that much. today i sent a transaction with 2 satoshi/byte which was confirmed in about 15 minutes and it cost me 4 cents ($0.04).

as for exchange fees, last time i checked they were charging somewhere around 0.2% fee no 2% if some exchange is charging YOU 2% then maybe you should start looking elsewhere.

lets not forget that if you wanted to send USD  to another country and then in that country convert that USD to local currency like JPY for instance, then you would still pay the same hefty fees for transferring money and the exchange fee.
2180  Alternate cryptocurrencies / Altcoin Discussion / Re: Will Bitcoin FS become the official Bitcoin Chain? on: June 02, 2019, 03:53:44 PM
yeah, a shitcoin that copies bitcoin is going to become the "official" bitcoin chain. Cheesy
and we are all living in the fairy land and unicorns are running in the streets shooting rainbow out of their asses.
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