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801  Bitcoin / Bitcoin Discussion / Re: There is something wrong with understanding Bitcoin on: May 16, 2023, 11:49:35 PM
Those who understand Bitcoin, including its volatility and choose to invest in Bitcoin, are very easy to panic about the price, even though Bitcoin has been proven to be a future investment choice.

Bitcoin is still not the digital gold. It fails to show the proparty of gold of growing when economy or stock market suffers. Sometimes Bitcoin goes up when that happens, sometimes it goes down.

Bitcoin's value is unclear. Gold is trusted by everyone. Bitcoin is only trusted by a small percentage of total population, and the trend of increase is very small. It's also unclear just how much the people who own Bitcoin trust it, or whether they treat it as a speculative investment that should be dumped if it fails to perform. This all makes Bitcoin future very uncertain.
802  Economy / Economics / Re: Financial education or 1million dollars on: May 16, 2023, 11:29:05 PM
Have you wonder why most lottery winners have gone back to square one after winning or most rich kids losing their inheritance due to poor/bad management of funds, it's because they lack financial education.

People lose their wealth not because of lack of financial education, but because they don't have any common sense. You don't need to study to understand that if you spend more than you earn, you will become broke. People who have unsustainable spending habits just don't have basic self-control.

But I would say 1M is better than financial education, because financial education won't teach you how to make 1M, it can only teach you how to preserve it and grow it, but it won't help you get from zero to hero.
803  Bitcoin / Bitcoin Discussion / Re: The World's First Kids Cartoon about Bitcoin on: May 16, 2023, 11:13:30 PM
Do we really need child-oriented Bitcoin content? Kids don't earn money, and don't often make payments, they most likely won't be using it until they grow up. And Bitcoin's complexity in terms of use is way to high for children - they can easily fall victims of scams or malware and lose whatever coins they parents gave them.
804  Bitcoin / Bitcoin Discussion / Re: A new milestone: 1M addresses hold 1 Bitcoin on: May 15, 2023, 11:43:57 PM
The last past weeks has been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of wallets holding atleast 1 BTC are now 1 million.

Your title says "addresses" and you post says "wallets", so which is it? I have a wallet with over 1 BTC, yet my coins are spread across multiple addresses, so I don't have a single address with >1 BTC. I probably never had such address, even in the earlier days, when the price was lower, because back then I was moving my coins a lot.

Also, the addresses with >1 BTC could belong not to single users, but to organizations that hold someone else's coins.
805  Other / Beginners & Help / Re: One beauty of heirachy in Bitcoin forum. on: May 15, 2023, 11:39:36 PM
There are old accounts that barely earned any merit yet hold high ranks. Those users are complete shitposters despite technically being high rank.

Also, rank simply means having a lot of merit, and merit is not awarded strictly for being helpful. People on local boards, meta board and megathreads like wall observer generously shower each other in merit for very simple posts.

There are outstanding users with deep knowledge who earned thousands of merits, but people with hundreds of merits often just earned it by posting something that others agree with.

Ranking system's purpose is to reduce spam on the forum by making new users impossible to rank up if their posts are low quality.
806  Economy / Speculation / Re: Leak Reveals Secret Democratic Plan For A Game-Changing U.S. Crypto Crackdown on: May 15, 2023, 11:22:30 PM
They'll happily create a crypto market crash and make investors lose money in order to prevent them from losing money. Good to know there are politicians out there working tirelessly to protect the little people from themselves.

The coins that will crash because of government regulation deserve to fall, because it would mean that they are just ponzi schemes. I'm sure Bitcoin will not crash if exchanges will get more regulated, because Bitcoin itself is not being targeted and nothing about its fundamentals will change.

This isn't the US government trying to kill crypto. If they wanted to do it, they would just ban all financial institutions from dealing with crypto exchanges and crypto market would be dead in the US.
807  Economy / Economics / Re: Bravo: Ron DeSantis bans CBDCs on: May 14, 2023, 11:46:43 PM
He's anti-abortion, pro-gun, anti-LGBT, anti-immigration, and the list goes on and on. But Republicans are against the bigger control of the state over the population, so being against CBDCs makes sense here, and that's a valid concern that I think the Republicans point out correctly.

If they are anti- a lot of things, then they are not against government control of the population, they just want it to be their control, not their opponents'. He's against CBDC because they are being proposed by Biden's team, if it was coming from Trump's team, he would be 100% supporting it. In the US ideology is just a political tool for winning votes, politicians don't believe in what they say.

Remember how a few years ago Trump bashed Bitcoin because he viewed it as competition for the US dollar? If Republicans will decide that CBDC can stregthen the US dollar, they will support it.
808  Bitcoin / Bitcoin Discussion / Re: My experience with memorizing seed phrases on: May 14, 2023, 11:40:01 PM
Wow I never knew one could memorize the entire 4 wallet seeds. That's impressive. But then again, the effort you have put into this is incredible. I wouldn't manage to rehearse the seed words every day for several years. The only downside - you now know the seed, you keep it in your brain so in case you will be say kidnapped and tortured ($5 wrench attack) there's a possibility you'll give it out to the bad guys.

If a kidnapping happens, the attackers will likely get what they want anyway. Plus they have to know what to look for, and keeping seed in memory is pretty uncommon.

The best way to deal with kidnapping is to keep low profile and have good physical security. There is no storage method that is immune from such attack.
809  Bitcoin / Bitcoin Discussion / Re: My experience with memorizing seed phrases on: May 14, 2023, 02:42:42 AM
You remember it because your test it by yourself daily and many times. 4 years means about 1500 days and with 1500 repetitions, I am sure you can remember it very well.

I stopped doing it daily a long time ago, especially when I stopped looking at Bitcoin price and Bitcoin news all the time. These days I can go weeks without reciting my seed, and I still remember it, but this is dangerous, because if I'll go a few months without refershing my memory, I'll probably forget big chunks of it. That's why memorizing should be viewed as an optional bonus and not a part of overall seed storage.
810  Bitcoin / Bitcoin Discussion / My experience with memorizing seed phrases on: May 13, 2023, 11:52:16 PM
First things first, I have pretty average memory, I don't forget important things too often, but I also can't instantly memorize things to the tiniest details like some gifted people can.

Around 5 years ago I decided to memorize my wallet seeds to have one extra backup method. My main backups are pieces of paper + a flash drive with wallet files.

I memorized all 4 wallet seeds (12 words each) that I have very quickly by rehearsing them from memory and checking with the written down seeds every day. For a long time, maybe 1-2 years I kept discipline and repeated the seeds every day, but eventually I started slipping and forgetting to do it, especially if I was busy with something. This affected my memory, and sometimes I forgot or wasn't sure about parts of a seed (2-4 words) so I had to look at it again and repeat it more often.

Interesting thing about memory, it's easier for me to repeat them in the sequence that I was always repeating (seed 1 -> seed 2 -> seed 3 -> seed 4) than to repeat only one seed that isn't the first. Also I can't repeat the words starting from non-first word or in an order that isn't original. So to me it's more like keeping in memory one big 48-word seed than having 4 seeds of 12 words each.

So in summary, I think memorizing a seed is easier than most people think, and there's no need to come up with songs or rhymes or other stuff, they can probably even make things worse. But in general memory is not reliable, even in long term, so this shouldn't be viewed as a reliable backup. It's just a nice extra layer of backup that doesn't require any complicated setup, and its strongest upside is that it's always with you (until your memory fails).
811  Other / Beginners & Help / Re: The cost of maintaining wallet on: May 13, 2023, 11:31:40 PM
First send your seed phase or private keys to your emails, also use them to compose a little song only can listen anytime, write it down in your diaries, and makes sure have a google doc to save your wallet keys and other information.

Lots of people have lost their coins by storing their seeds in email which got hacked.

Writing a song is not useful, the seed format is already mnemonic, it was created to be easy to memorize, but memory shouldn't be your primary or even secondary method.

Google doc has the same drawbacks as email.

If you decide to store it in online storage, at least encrypt it with strong algorithm and a strong and random password.

812  Economy / Speculation / Re: High tx fee has historically marked the sell-off. Is this time different?? on: May 12, 2023, 11:24:32 PM
Bitcoin lost 10% of its price during this sell-off. That's something that happens quite often and doesn't create as much blockchain activity. So the fee spike was caused by ordinals, but people who are moving coins in/out of exchanges were probably contributing to the fee spike too, because for them 200-300 sat/byte is not really a lot if they can make thousands of dollars on arbitrage or from short-term flips.
813  Other / Beginners & Help / Re: Which of this is plagiarism ? on: May 12, 2023, 10:12:18 PM
Plagiarism is when you present stolen text as your own. Same with AI - if you try to pass it as your own post, you will get banned. If you make it clear that it's not your own post by putting it in a quote, you will be fine. As for pictures, generally people don't assume that the poster is the author, so you will be fine by leaving them unattributed. But still it can be plagiarism if you try to intentionally pass it as your own, for example if you enter a creative competition.
814  Bitcoin / Bitcoin Discussion / Re: How to Make 10 Million BTC Wallet Per Day on: May 11, 2023, 11:05:05 PM
You've got the right idea towards this, having it posted on some service board. Bounties perhaps and your wallet would be created on it's required number within hours. The issue is, you don't expect any privacy of wallets created. The bounty users would always have the private keys or seed phrase to them wallets.

When you refer to coding for a means,
How do one archive that with regards to OP's quest?


Obviously OP will get a program that creates wallets and not just the wallets themselves. This still poses a security risk that the code can be malicious and generate wallets non-randomly or send a copy to authors server, so the code should be independently verified or OP will have to just trust that they won't get robbed. But this isn't very different from typical crypto jobs when someone asks to create a service involving receiving money, and there's a risk that the developer will put a backdoor.
815  Bitcoin / Bitcoin Discussion / Re: How much does Bitcoin affect other cryptocurrency? on: May 11, 2023, 10:47:48 PM
My real question maybe is. If cryptocurrency´s follow each other. whats the difference if you invest in BTC or ETH or USDT for example.


They don't follow each other, the altcoins follow Bitcoin, not the vice versa. And this is just a macro trend, it doesn't mean that there's no other price movements. People buy altcoins because they can jump by 50% in an hour randomly, without Bitcoin doing any significant moves. But people dismiss that altcoins just as easily crash, and in long term they all crash to zero and get delisted and forgotten when they have low volumes.

Trading altcoins is more like gambling than investing, it's a game of a bigger fool - they don't create anything valuable for society that could justify their price.
816  Bitcoin / Bitcoin Discussion / Re: How to Make 10 Million BTC Wallet Per Day on: May 11, 2023, 10:34:44 PM
If you can code, just look up a decent Bitcoin library for your language, they all support creating addresses or wallets. If you can't, then somebody needs to do it for you, and I doubt anyone would want to spend a few hours doing it for free, so you should post an offer in Services board to hire someone for this task.
817  Economy / Speculation / Re: Bear Market Reaches $27605 - Will the Downtrend Continue?" on: May 10, 2023, 11:46:42 PM
Halvening is still 1 year away, until then it will most likely be the sideways market, judging by the past markets. Now is a good time to buy if you can 100% afford to wait 2+ years. The short term remains highly unpredictable as always, so it's highly risky to do any short-term trades, because Bitcoin can go up or down by a lot very easily and very quickly.
818  Economy / Economics / Re: Inflation is Poses a Great Challenge for Delayed Gratification on: May 10, 2023, 11:29:00 PM
Normally inflation is only a few percents per year, so over 4 years it wouldn't be so dramatic. The current inflation is the result of covid and the war. People may say in hindisght that gold or Bitcoin are a better store of value, but gold and Bitcoin also crash from time to time. There is no perfect store of value that is immune from losing its value.
819  Bitcoin / Bitcoin Discussion / Re: Will the Ordinals craze cause a UAHF soon? on: May 09, 2023, 11:17:30 PM
This won't happen because miners and most of the community won't care. However, now is a ripe time to start creating forked shitcoins that disable the possibility of NFTs and other crap, and dumping them on exchanges like it happened with all the previous forked shitcoins (BCH, BSV and so on). And then someone will create forked shitcoins with even more NFT integration to dump them too. So maybe we'll see a repeat of the previous Bitcoin fork craze that created a lot of airdrops for Bitcoin hodlers.
820  Bitcoin / Bitcoin Discussion / Re: Could Ordinals make having a copy of the Bitcoin blockchain justifiably illegal? on: May 08, 2023, 09:32:05 PM
I can imagine malicious government actors doing this as a way to have an excuse for governments around the world to seize any computer with a copy of the blockchain and imprison the person who copied the blockchain because they knowingly possessed illegal exploitative images.

Governments don't need to conjure any excuses to ban Bitcoin, because most of the population will be indifferent. A few hundreds of bitcoiners will gather to protest for a few days and then will go home. The fact that governments didn't  ban Bitcoin so far means they don't view it as a big problem. Maybe they don't even view it as a problem at all, because not much people are using it in a way that would threaten the government - they just trade in on centralized exchanges and that can be and does get taxed. So adding any malicious information to the blockchain won't change much in the current state of things.
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