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681  Economy / Speculation / Re: another major resistance broke and the FOMO began on: January 02, 2021, 06:19:56 PM
Google trends show for this season is still little than what we have on 2017.
that is because the "hype" that eventually leads to higher google searches (showing up in google trends) is just getting started and it would take a couple of months of FOMO before it picks up.

also don't forget that we are in holiday season, literary second day of the new year, so most people haven't even heard about this rise let alone want to FOMO buy Cheesy

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I've remembered those people who are still waiting for the bottom on $3k.
i mainly remember those who were waiting (and encouraging others to wait) for $1500.
682  Economy / Speculation / Re: another major resistance broke and the FOMO began on: January 02, 2021, 05:29:21 PM
I think many institutional investors are accumulating Bitcoin.

i'm not yet convinced about this to be the main reason even though i keep hearing it used as the reason.
most institutional investors are already in and have bought the majority of the coins they wanted to buy. some of them did it months ago.
they also don't go to bitcoin exchanges to buy bitcoin, they go through other channels which means they don't really affect the price that we see in the market.
683  Economy / Speculation / Re: Bitcoin Maximalism Has Won on: January 02, 2021, 05:03:18 PM
Many newbies in my country have been scammed by shitcoiners that they have missed the bitcoin train and now btc price is too expensive and they should invest in early stage coins

they were scammed by their own stupidity and this false narrative that have been fed to them that "bitcoin is too expensive".
we can't force people to use their heads.
684  Economy / Speculation / another major resistance broke and the FOMO began on: January 02, 2021, 04:52:26 PM
today marks both a new price record for bitcoin in its decade long history and yet another case of a big FOMO that starts every time a major resistance is broken.
although we are going to see them quite often this year as this is going to be a bigger copy of 2017 as a fresh money starts coming into bitcoin once again.
similar to 2017 it could be expected that the trend continues all through the year with some slow down mid year with the real bubble at the end of the year.

what do you think?
685  Bitcoin / Bitcoin Discussion / Re: The "rat poison" is worth more than Buffett's company on: December 31, 2020, 05:53:40 PM
With this comments he means that cryptos are out of his investing universe because they do not have a balance, cash-flow, taxes, shares, etc... that his team can analyse. It does not mean that they are worthless.

that quote has two parts, and what you are focusing on is the second part ("not producing anything") but the first part which you ignored is the stupidest statement that anybody can make.
bitcoin does have value since it is providing a utility and it doesn't have to produce anything to have that value. and when he says it has no value he is saying it is worthless.
686  Bitcoin / Bitcoin Discussion / Re: Bitcoin liquidity crisis on: December 31, 2020, 05:13:05 PM
that is just another cointelegraph nonsense. there is no liquidity problem on exchange let alone be as dramatic as being a "crisis". in fact as the price grows the liquidity on exchanges increases by a lot and it becomes a lot easier to buy bitcoin as the order books become tightly packed with orders.

there are liquidity problems if for example you couldn't buy $10000 worth of bitcoin without causing the price to go up 10% which is obviously not the case. for example it currently takes near $6 million to buy the bitcoins enough to bring the price from $28528 to $29000 (less than $500 or 1.7% rise). and that's not even taking the shadow orders into account.
and that's just one small exchange (bitstamp) not all the bitcoin exchanges.
687  Economy / Service Announcements / Re: [ANN] CoinPlaza.it: non-custodial instant crypto exchange - Bitcoin ⚡ Enabled on: December 31, 2020, 04:30:14 PM
is the signing up mandatory and why can't i make the exchange without creating an account?
i don't have any problem giving my email to sign up but i am afraid the system may not stop there and ask for KYC documents, i just want to swap a small amount of bitcoin with OMNI USDT if that's possible.
688  Economy / Speculation / Re: Bear market? Will NEVER HAPPEN because of tether printing. on: December 31, 2020, 03:45:05 PM
those who bumped this old topic and are discussing the same stupid topic all over again are missing the fact that OP was already proven wrong 2 years ago when the bear market did happen and price of bitcoin fell from $20000 down to $3000 in the course of 2.5 years and during that time Tether printed a lot more tokens that they have ever printed specially compared to 2017 (the year bitcoin was rising).

if OP's arguments had any reality to it then price should have never dropped in first place and the bear market that he claimed "will never happen" would have never happened. but we know now that it did happen and Tether never had any effects on bitcoin price.
689  Bitcoin / Development & Technical Discussion / Re: How many of you check the code of open source software? on: December 31, 2020, 03:27:45 PM
I digged deep into what you said and I confirmed that you are absolutely right but my thought was the MIT will do some background check on open source software before the license is issue to them. But, there must be a process for non tech savvy to check and verify the code of open source software.

MIT license is not issued by MIT to projects! it is a license that originated at MIT and it simply defines certain terms and conditions for open source software that anybody can use.
690  Bitcoin / Development & Technical Discussion / Re: Playing Dice with transactions on: December 30, 2020, 04:57:15 PM
Why? We have OP_ADD that can add two numbers, so we can simply add two seeds and then hash the result.
that would work but since the numbers in OP_ADD are limited to 4 bytes and 4 bytes is considered small for seed the design can be considered a little weak.

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We don't need it. By using OP_SHA256 on some number we can get some hash. All that is needed is checking if it is greater/less than some other number pushed on the stack.
you have to convert the 32 byte hash to a number and use OP_GREATERTHAN to compare them. there is no OP code for that initial conversion and has to be defined.

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Why? Player and casino work together to choose the inputs, the outputs and the amounts of the same transaction. Both parties have to sign the whole transaction and agree upfront on the whole bet.
because i think that this way the design would be a lot safer since the rules are going to be enforced by the smart contract and can not be broken. the losing party can refuse to sign the transaciton too

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there is also another issue here which is the revelation of seeds
Both parties can reveal hashes of their seeds. If anyone won't reveal its seed, then funds will be frozen on the winner's address forever. That's the same what will happen when they send these coins to 2-of-2 multisig address and the loser refuses to sign the transaction in favour of the winner. Funds have to be frozen to make sure they are assigned to the winner.
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well this is a big problem. the loser is never going to get the funds anyways so if they don't provide their seed or sign the transaction they make it so that the winner also doesn't get the funds.
691  Bitcoin / Bitcoin Discussion / Re: Whales or institutes do not stop their bitcoin buying on: December 30, 2020, 04:43:29 PM
How the Ripple lawsuit and appeal ends will be very interesting for crypto market. If Ripple fails with their appeal (I think so) the capital in Ripple will switch to bitcoin and a few top altcoins. More than $13,2 million will be available on the market. This capital is more than two-thirds of Grayscale investment in bitcoin.

you are missing two important factors.
first altcoin traders are mainly trading them against bitcoin, so there won't be any capital coming to bitcoin when they dump XRP to get BTC directly. consequently it won't affect bitcoin price.

secondly when altcoins dump their value decreases a lot specially when something this big and negative happens to them. add to that the centralization of XRP and failure of the company is the failure of the shitcoin so it won't take long to reach zero which means selling XRP won't give people that much capital anyways.
692  Bitcoin / Bitcoin Discussion / Re: NFL have their first player played in bitcoin on: December 30, 2020, 04:23:53 PM
Considering the high demand (paypall buying about 70%) of the newly mined bitcoins)
where is the proof of this?
i have heard this before and the other user also provided no proof.

A lot of articles used this bad wording to describe the amount Paypal was supposedly buying. It's not 70% of the new coins but coins equivalent to 70% of the daily mined coins. Some of the newspapers went further and made a total mess:
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PayPal is already buying 70% of the newly mined bitcoins while Cash App has bought about 40%, Pantera said.
So, if you take it word by word they are buying 110% for the mined coins!  Grin

Besides, that was increased trading volume, which can be from one coin or a thousand, clickbait titles, just like the one that started this topic.

good explanation, it is clickbait but i also think it is kind of an FUD specially since we have no proof of paypal having bought any bitcoins ever since nobody has ever withdrawn any bitcoins from their platform. they are basically trying to tell people that paypal is going to own the majority of bitcoins (and control the price) otherwise there is no reason to use "x% of newly mined coins" as a metric.
693  Bitcoin / Bitcoin Discussion / Re: New Nocoiner narrative, "Bitcoin is not scarce". on: December 30, 2020, 03:01:44 PM
The pizza analogy is so dumb.

it is dumb because it is an answer to a dumb statement. it is not supposed to be wise/correct.
the dumb statement is that if you split 1 whole bitcoin into satoshis bitcoin supply is no longer scarce. among the bullshit tweets there were some points towards the shitcoin forks too which is yet another dumb statement.


my observation is that she is just another hypocrite like the rest of them that no one would be surprised when they learn in near future that she has been buying bitcoin.
694  Bitcoin / Bitcoin Discussion / Re: NFL have their first player played in bitcoin on: December 30, 2020, 02:53:00 PM
Considering the high demand (paypall buying about 70%) of the newly mined bitcoins)

where is the proof of this?
i have heard this before and the other user also provided no proof. it also doesn't sound like a reality either because miners are spread around the globe and they each receive their bitcoins individually. for paypal or any other company to buy this newly mined coins they have to contact millions of individuals and convince them to sell their  coins to them which is never going to happen.
if you said 7% it would have made sense.
695  Economy / Speculation / Re: Bitcoin climbs the price level to 27k, what do we expect next? on: December 30, 2020, 01:59:04 PM
However, we need to consider that this would correct very quite soon. And perhaps, it can drop further based only on my opinion
it depends on what you have in mind when you say "drop further". it is perfectly possible to see price reach $30k and then drop to $24k which is a 20% drop.
but if you have a drop down to $19k or basically anything lower than $21k then no it is not possible and it is not a correction anymore.

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(P.S. moderator this is not a speculation). 
it is speculation when you are talking about the possible direction price can go in!
696  Bitcoin / Development & Technical Discussion / Re: Playing Dice with transactions on: December 30, 2020, 01:49:56 PM
Then, our winner's output can be done exactly like it is done in "provably fair" scheme. So, we have player's seed and casino's seed. We can put both seeds' hashes in the output script to make sure nobody is tampering with them. Then, we need to reveal both seeds in the input script and provide the winner's signature. For example, "<casinoSeed> <playerSeed> OP_BET" can return some hash as a result, as it is done typically by HMAC-SHA512 or something similar, here we can construct something using what we have in the Script, without adding anything new. Then, we can simply check if that hash is higher/lower than some target and decide which public key we should left on the stack. Then, OP_CHECKSIG after that should do the thing.

this needs a bunch of new OP codes not just one OP_BET.
for starters we have no OP_hash function that takes 2 inputs like HMAC functions do. each hash removes one item from the stack and replaces it with its hash. there is also no OP code to combine the hashes either (like adding or XORing them). there is also no OP code that could take x bits out of a hash and convert it to number.
so that's at least 3 new OP codes apart from the OP_BET.
2 additional ones are also needed to check the amounts and the destinations.

there is also another issue here which is the revelation of seeds. lets assume player loses in the end. if the casino reveals its seed the player can take it and on his machine compute whether he can win or not. if he didn't he refuses to reveal his seed. of the opposite in case user revealed it and the casino was losing.
the reason why provably fair system works in centralized gambling sites is that casinos don't reveal their seed until the bet is over.

i also don't think we need OP_CHECKSIG in this script since there is no need for any pubkeys.
697  Bitcoin / Bitcoin Discussion / Re: Bitcoin Halving , and its Effects on: December 29, 2020, 06:09:19 PM
When is the next halving? What effects should we expect from this? That's what I'm interested in.
the effects that come at the next halving will only be temporary and purely hype based. just like the previous couple of halvings that we had.
the real effects of halving is what you are seeing NOW. the reduced production speed is not going to affect the price right away because the mined coins aren't finding their way to the market right away. but after a while (like a year) we start seeing how 50% less new coins being created feels like on the price.
698  Bitcoin / Development & Technical Discussion / Re: How many of you check the code of open source software? on: December 29, 2020, 05:29:02 PM
You just have to have any chance of doing it when needed, that's all about it.

this could work fine for something that is not as security critical as a bitcoin wallet that is to store all your money, something like a browser for example. but when the stakes are high you should also take all the precautions as you can. if everyone thinks they have the chance of verifying the code but never do projects end up never being reviewed by anyone.
699  Economy / Speculation / Re: Are people buying BTC @ $27000+ idiots? on: December 28, 2020, 03:50:32 PM
Could have bought it in March this year for sub $4000.
funny thing is that the same questions was being asked back then too. like you could have bought bitcoin at $3000 a while back or $200 a while more back...

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Downside risk is much greater now than it was earlier this year.
not at all because the price being higher than {an arbitrary amount of time} ago doesn't mean it is riskier now.
it is only risky to buy bitcoin in bubbles and i don't see any bubbles at all.
700  Bitcoin / Bitcoin Discussion / Re: Bitcoin can go to Zero on: December 28, 2020, 03:18:42 PM
people always have dreams and you can have them too. you can sit behind your computer in the basement and keep on dreaming about bitcoin dying, dumping, ... while creating dozens of topics every week trying to FUD but the reality is that your dreams never come true when they make no sense at all.

even if you are getting paid to FUD i doubt you are making any amount of money from it and if you are trolling then its just worse because you are wasting your time for free Cheesy
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