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1301  Economy / Economics / Re: BTC Silver and Gold on: May 01, 2023, 03:59:07 PM
I am curious. How many of you also stack gold and silver in addition to BTC as a hedge for inflation?

Since the beginning of the year, gold has grown by 8 percent. Nevertheless, if you decide to buy it now, it will be a good investment - after all, gold is one of the main shelters during inflation.

Now the whole world continues to adapt to the withdrawal from the Russian markets, import and export chains are being redirected, and the economy of the whole world is adapting. So these are unstable times.


Because most of the Central Banks from different regions of the world have started buying and HODLing Gold. The older generation says that if Central Banks start doing it, we should expect another large-scale war. The question is Russia. If Putin's invasion of Ukraine is a success, what would stop him from invading another former Soviet Union region?

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Nevertheless, I have never considered and will not consider gold as an investment. Why? It is better to find another promising coin, like TON, and invest money in it.


TON? That shitcoin is better than Gold? Hahaha. Your post wants me to join Peter Schiff and become Gold Bug.
1302  Bitcoin / Development & Technical Discussion / Re: The Lightning Network FAQ on: May 01, 2023, 03:36:25 PM
This might be good for non-technical people who want to try actually using Lightning, https://lightning.engineering/posts/2023-04-26-litd-release/

It's also probably good for fee generation with their "One Node for Many Users" feature.

There's also this very practical feature.

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With zero confirmation functionality, Pool users can now purchase or sell Lightning Network channels without the need for on-chain confirmations. A Lightning business, or Lightning service provider (LSP), can purchase inbound and outbound zero-conf channels for a user to give them the ability to send payments over the Lightning Network in a fully non-custodial manner, without requiring the end user to understand Lightning liquidity.

1303  Bitcoin / Bitcoin Discussion / Re: On Ordinals: Where do you stand? on: May 01, 2023, 11:39:23 AM

What has kicking the spam out of Bitcoin to do with your freedoms?


Define "spam". I agree that dick pics and fart sounds shouldn't be stored in the Bitcoin blockchain, but to other people in Bitcoin Land, they're valuable "assets", and there's a market that validates that they are "valuable".

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You are free to fork and/or make another altcoin for that purpose. Leave Bitcoin for bitcoin.




n0nce also made the same debate. To push Ordinals out to an off-chain layer like RGB, and I agree.

https://www.rgbfaq.com/faq/what-is-rgb

But there are users who want their assets secured onchain = in a "bank vault", not in a less-secure off-chain layer = a "cheap museum".

¯\_(ツ)_/¯
1304  Bitcoin / Development & Technical Discussion / Re: How much percent blockchain on 500GB SSD? on: May 01, 2023, 11:25:36 AM
My experiment's over so I'll transfer the Bitcoin folder to 1TB SSD for completing 100% download.
That is just it. Get yourself 1 terabyte SSD or HDD card.


But considering how long Bitcoin has existed, and how many transactions it has managed to accomodate, maintaining its blockchain to be "just 500 gigabytes" is very very good in my opinion. Other networks couldn't hold their blockchains to be as efficient as Bitcoin if they had the total transaction volume that Bitcoin has.
1305  Bitcoin / Bitcoin Discussion / Re: On Ordinals: Where do you stand? on: April 30, 2023, 11:25:30 AM
NFT on LN is also a failure.. again the proof of ownership /transfer lacks. yep you cant prove ownership in LN
there is a major point of blockchain.. its not just data store, its also the proof that cannot be edited of ownership and transfer
there was a big problem cypherpunks were hitting their heads against for decades before bitcoin was invented. and seems the ordinal adoration brigade and LN supporters do not recognise bitcoin and blockchain purpose.


You make me laugh, franky. How did LN+NFT come into the debate?

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casey can change which output his ordinal process follows, without messing with data. because his "transfer"(lack of) of such is not dependant on bitcoin code or cryptography or proof in hard data within the outputs to milestone the movements.. meaning that his ordinals do not use the blockchain function of proving the transfer in an uneditable way

there are ways to prove it but casey is not using it, so its a double fail

 

Are there more technical users in the topic who can ELI-5 for stupid non-technical people like me?

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but the fact that he and his fans adore using blockchain as just a dead weight data store. is the facepalming part. those memes have no value, have no true ownership control and thus are just a waste of space done purely to force everyone else to pay more just to reliably stay in mempools long enough for mining pools to pick up and add to blocks

adding bloat to reduce the number of transactions that fit then charging more per transaction is the complete opposite of an efficient payment system and those idiots who love doing this are the ones that dont care about bitcoin. and yes ordinals is an attack because it uses a crappy cludgy backdoor to be added into bitcoin blocks without being verified as data fit for bitcoins purpose

I agree that it's adding more useless bloat. I agree that those memes, dick pics, and fart sounds should not be in the Bitcoin blockchain. I agree that Ordinals can be used as another attack vector. BUT what I can't agree with are people saying, "Ordinals is an attack/exploit".

Be reminded that Ordinals, from the Bitcoin protocol's viewpoint, are valid transactions that follow the consensus rules. You may have your opinions, but you can't misinform the community with what's simply isn't true.

bitcoin. binary data. numbers. math does not count sats the way you think casey prescribes
economics logic, math, common sense shows different to what casey says.. its not a franky opinion. its a data fact you can research and see

just do so at data level not PR campaign buddy eli-5 spoonfeed level

casey project of adding in memes into the dead weight area of a transaction uses a trojan exploit of an opcode(of many new opcodes added recently) to just auto treat as passed/success without validating it to any protocol format of requirement. its blindly passed rather than having to meet a requirement
learn the difference

for instance a legacy signatures have to meet requirements such as length limit. such as having a relationship to an input and the message hash calculations of signature proofs etc. a meme does not need to meet any format or standard or requirement its just blindly let passed due to an exploit


OK, I believe I understand your point of view. That in The Ordinals Theory, Casey Rodarmor merely invented a set of "imaginary" rules within Bitcoin to "govern" the numbering system of satoshis, which isn't truly enforced by anything except that Casey's "rules are the rules". Is that right?

It still doesn't change the fact that Ordinals transactions are still valid transactions that follow the consensus rules at the protocol level.
1306  Economy / Services / Re: [OPEN] whirlwind.money | Redefining Mixing | Signature Campaign ~Up to $150/week on: April 28, 2023, 08:26:43 AM
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=844914
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1307  Bitcoin / Bitcoin Discussion / Re: On Ordinals: Where do you stand? on: April 27, 2023, 10:15:09 AM
NFT on LN is also a failure.. again the proof of ownership /transfer lacks. yep you cant prove ownership in LN
there is a major point of blockchain.. its not just data store, its also the proof that cannot be edited of ownership and transfer
there was a big problem cypherpunks were hitting their heads against for decades before bitcoin was invented. and seems the ordinal adoration brigade and LN supporters do not recognise bitcoin and blockchain purpose.


You make me laugh, franky. How did LN+NFT come into the debate?

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casey can change which output his ordinal process follows, without messing with data. because his "transfer"(lack of) of such is not dependant on bitcoin code or cryptography or proof in hard data within the outputs to milestone the movements.. meaning that his ordinals do not use the blockchain function of proving the transfer in an uneditable way

there are ways to prove it but casey is not using it, so its a double fail

 

Are there more technical users in the topic who can ELI-5 for stupid non-technical people like me?

Quote

but the fact that he and his fans adore using blockchain as just a dead weight data store. is the facepalming part. those memes have no value, have no true ownership control and thus are just a waste of space done purely to force everyone else to pay more just to reliably stay in mempools long enough for mining pools to pick up and add to blocks

adding bloat to reduce the number of transactions that fit then charging more per transaction is the complete opposite of an efficient payment system and those idiots who love doing this are the ones that dont care about bitcoin. and yes ordinals is an attack because it uses a crappy cludgy backdoor to be added into bitcoin blocks without being verified as data fit for bitcoins purpose


I agree that it's adding more useless bloat. I agree that those memes, dick pics, and fart sounds should not be in the Bitcoin blockchain. I agree that Ordinals can be used as another attack vector. BUT what I can't agree with are people saying, "Ordinals is an attack/exploit".

Be reminded that Ordinals, from the Bitcoin protocol's viewpoint, are valid transactions that follow the consensus rules. You may have your opinions, but you can't misinform the community with what's simply isn't true.
1308  Economy / Services / Re: [OPEN] Re-Launch Mixero Bitcoin Mixer Signature Campaign | Sr+ up-to $125/w on: April 27, 2023, 07:37:35 AM
Applying for Hero rate.

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1309  Economy / Services / Re: 🚧[OPEN] [banned mixer] | Bitcoin Mixer | Signature Campaign ~ Up to $130/week on: April 27, 2023, 07:32:27 AM
Bitcointalk Username: Wind_FURY
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Merit earned in the last 120 days: 73
1310  Bitcoin / Development & Technical Discussion / Re: Why was Ordinal NFTs created? on: April 27, 2023, 07:16:39 AM

If the Dollar devalues, Bitcoin surges in Dollar units.
i'm not so sure about that as far as being 100% guaranteed. what if whatever causes the dollar to devalue also affects other fiat currencies. what if it also affects bitcoin?

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I believe Craig Wright had the same proposal. For me it's laughable and very stupid.
well if you can't explain why something is "laughable and very stupid" then maybe it's not. but if the reasoning has to do with your coins going higher in value because other peoples' coins are getting lost then that's really not a good enough reason...



 Roll Eyes

You're on ignore.
1311  Bitcoin / Development & Technical Discussion / Re: Why was Ordinal NFTs created? on: April 26, 2023, 10:15:37 AM

Probably another thing, but what's going to happen and what's not going to happen is not for you and me to decide, it's the market, and probably we can agree that the market doesn't care about the marketcap. It will take Bitcoin where it wants to take it. If it goes to a seven digit price valuation, OK. If not, OK.

 Cool


so if bitcoin just stays under $100,000 forever that's ok too? what if the us dollar devalues alot and bitcoin still stays the same? that's ok too?


OK from the perspective that the network will go on whatever the price.

If the Dollar devalues, Bitcoin surges in Dollar units.

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I don't know, I neither thought nore suggested that Ordinals is going to drive it to new valuations. Let's wait for the next halving.

apparently bitcoin is supposed to go up in price at each halving.


Theoretically it's supposed to, but practically it also depends on demand.

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"Satoshi"? Are you talking about the person who demanded that the Core Developers write code to recover his lost coins? That "Satoshi"?

never heard of that satoshi. that sounds unreasonable of a demand though. but recirculating old coins that haven't been used in 250 years does seem kind of reasonable. at least to me.  Shocked


I believe Craig Wright had the same proposal. For me it's laughable and very stupid.

OK, we're off-topic now. This post will be my last reply on that matter.
1312  Economy / Economics / Re: John Oliver - carving the old wounds of Crypto - Calls it Fiasco! on: April 26, 2023, 07:55:47 AM
Let's not forget that John Oliver are a comedian and a actor.... so their main goal is to find content that are controversial. Bitcoin and Crypto currencies are one of those topics that can be exploited to push a lot of buttons and get the most reaction from viewers.

These people thrive when they can pick people and technologies apart for their own gain. So yes, Bitcoin and Crypto currencies are a easy target for them and there are a lot of scams and shitcoins that are giving them a lot of content.  Roll Eyes


 Roll Eyes then why are we posting on the topic like we should take him serously? The topic should be locked in my opinion, or moved somewhere. He's neither an economist nor a scholar with a background in finance. I should have done a little research about him.

He might merely be a politico-economic propagandist for-hire trying to influence you/spreading FUD, but without looking like he's trying to spread FUD.
1313  Economy / Speculation / Re: Buy the DIP, and HODL! on: April 26, 2023, 05:46:48 AM
There's another significant DIP that's probably coming soon. Although the probability might be low, the pattern almost follows the same one that happened during 2019. How significant the DIP will actually be will be answered in a few months by the market. DCA, Buy the DIP - pick your weapon, both strategies are acceptable for the long term HODL.
I realized about the pattern you are talking about especially after I analyzed the charts and compared it between the previous halves and the next halves. I am under the impression that a similar pattern is possible, but it will most likely be broken if a red candle finally forms in April. I analyzed monthly TF, but I have doubts about deeper dip between May to July. If indeed a correction is still very likely, I don't think $20k will break.


I have my reservations. Look at the pattern between January 15 and March 10, then compare it with the pattern between March 18 and today. I believe we might find Bitcoin drop below $25,000 again for a short amount of time before a strong surge above $30,000. But it's merely a guess, just DCA + Buy the DIP bigger on significant price corrections.
1314  Economy / Economics / Re: John Oliver - carving the old wounds of Crypto - Calls it Fiasco! on: April 26, 2023, 05:31:28 AM
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Oliver has given three worst failures of the crypto time which include: 1) Terra Fall, 2) Celsius, and 3) FTX collapse.


The expected failures of those Ponzi Schemes do not represent crypto, just like the failures of the biggest fiat Ponzi Schemes in history before crypto do not represent the banking system.

List, https://en.wikipedia.org/wiki/List_of_Ponzi_schemes
1315  Economy / Economics / Re: SVB Analysis Shows More Than 186 US Banks Might Still Collapse on: April 25, 2023, 01:17:40 PM
Meanwhile, First Republic Bank (FRC) seems to be dead too. The fall of its shares is close to catastrophic today.
A month has passed and the passions around the banks have subsided a little, but the problems have not gone away. The high key rate and hints of its further growth make the outflow of deposits from banks increasing and it is not clear how this can be fixed. An interesting article in Bloomberg about this.


It's the reporting of earnings week in the United States, and First Republic Bank reported that they saw $100 billion in deposits fall this year. Other banks might have the same reports. I believe we might see another drama from the legacy financial sector soon. Plus if the Federal Reserve hasn't cut rates yet, it definitely shows that they are not anticipating something to break. It's when Jerome Powell starts cutting rates that he's desperate to pump more liquidity into the system because something is about to break. BUT it will always be too late.

Yep. In the context of a high key rate, rather high interest income on short-term US Treasury bonds and amid high inflation, there is absolutely no reasonable reason to keep your money on deposits at a symbolic interest rate (usually 0.1%), at least an amount exceeding deposit insurance limit. Therefore, the outflow of funds from bank deposits will continue and I do not see how this trend can be changed.


But where does all the money go besides Bonds? Stocks are risky at current valuations, plus it might also crash soon because of the Federal Reserve's over-tightening, which could start a deflationary cycle. Bitcoin? Probably good for a small percentage of your total networth. Gold? China, Russia and other Central Banks around the world are accumulating Gold because the World Powers are probably going to war.
1316  Economy / Economics / Re: SVB Analysis Shows More Than 186 US Banks Might Still Collapse on: April 25, 2023, 08:51:05 AM
Meanwhile, First Republic Bank (FRC) seems to be dead too. The fall of its shares is close to catastrophic today.
A month has passed and the passions around the banks have subsided a little, but the problems have not gone away. The high key rate and hints of its further growth make the outflow of deposits from banks increasing and it is not clear how this can be fixed. An interesting article in Bloomberg about this.


It's the reporting of earnings week in the United States, and First Republic Bank reported that they saw $100 billion in deposits fall this year. Other banks might have the same reports. I believe we might see another drama from the legacy financial sector soon. Plus if the Federal Reserve hasn't cut rates yet, it definitely shows that they are not anticipating something to break. It's when Jerome Powell starts cutting rates that he's desperate to pump more liquidity into the system because something is about to break. BUT it will always be too late.
1317  Economy / Speculation / Re: Buy the DIP, and HODL! on: April 25, 2023, 08:36:36 AM
To all who like to Buy the DIP, and DCA. There's another Golden Opportunity coming, although it might not be as golden as low prices of November, but a good opportunity nonetheless.
 Cool
ARE YOU READY?

Yes, it is an opportunity though not so attractive as it was in November-22, with the price having dropped more than $3000 during the last week and currently trading at around $27,700. It appears as market may continue to experience sideways movement, and Bitcoin price may remain within a relatively low range for sometime until a break-up or break-downs occurs which usually happens after a period of sideways movement. Every significant dip should be considered an opportunity to accumulate Bitcoins for long term holding.


There's another significant DIP that's probably coming soon. Although the probability might be low, the pattern almost follows the same one that happened during 2019. How significant the DIP will actually be will be answered in a few months by the market. DCA, Buy the DIP - pick your weapon, both strategies are acceptable for the long term HODL.
1318  Bitcoin / Development & Technical Discussion / Re: Why was Ordinal NFTs created? on: April 25, 2023, 08:23:37 AM
Probably, but if Bitcoin surges to a six digit price during the next bull cycle, which is very possible in my opinion,
then wait for the possibilty of a seven digit price narrative to arise.

it's one thing for btc marketcap to go from half a trillion dollars to 4 times that. but another thing entirely go to 40 times that. do we really think that's going to happen?


Probably another thing, but what's going to happen and what's not going to happen is not for you and me to decide, it's the market, and probably we can agree that the market doesn't care about the marketcap. It will take Bitcoin where it wants to take it. If it goes to a seven digit price valuation, OK. If not, OK.

 Cool

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It just starts as a narrative, then as a possibility, then a?

 Cool
ordinals is not going to drive that. so what's going to drive it? you would need 1000 projects like ordinals to get you up to $1,000,000 maybe more.


I don't know, I neither thought nore suggested that Ordinals is going to drive it to new valuations. Let's wait for the next halving.

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I'll pretend I didn't see that part of your post.
ok. don't tell satoshi either.  Shocked


"Satoshi"? Are you talking about the person who demanded that the Core Developers write code to recover his lost coins? That "Satoshi"?
1319  Bitcoin / Hardware wallets / Re: Recommendations to store my seed phrase!! on: April 25, 2023, 06:58:22 AM
Never think of putting that on an online storage or spreadsheets or emails, just don't. You already have the ideas on how to keep it in the best way like having it on a safe vault and have it written on a piece of paper. Mine was written on a piece of paper and that paper came from the original Ledger's provided form. I have my storage like a small pouch or bag that's not too hot in the eyes of many people but it's kept inside where I can bring anytime and anywhere I can. Dog tags are good but don't make it obvious that it's a seed or recovery phrases, there are many people now that's starting to learn about private keys, seeds and recovery phrases.


I would suggest that you make a "cipher" for your seed words. It doesn't have to be very advanced, or complicated, but the important thing is you alone knows the code to decipher it. This is very very important especially if a large part of your savings are stored in Bitcoin. Many people might say I'm too paranoid, but if you're being your own bank, you need to be a little paranoid to protect your money.
1320  Bitcoin / Bitcoin Discussion / Re: Geeky crypto thief, 32, jailed for hiding $3billion in Bitcoin in popcorn tin on: April 24, 2023, 11:15:09 AM
Also, the guy got collectible coins, shout out for our physical bitcoin collectibles out there, i wonder if anyone made a transaction between him or he has an account here.

He does have an account here:

Loaded

What's funny is he used to pretend that he made all his Bitcoin from trading and running a trading fund for wealthy investors... Of course that was all a lie. Not that there wasn't some level of ingenuity involved in how he actually achieved his BTC wealth.

This thread is what made him famous, at least on the forum anyway. It wasn't too long after he posted this that people started figuring out where his BTC really came from.


It was very ingenious. He got all that Bitcoins by exploiting a Dark Market site called the Silk Road. The exploit was said to have allowed him to withdraw many times from the site's wallet without making any new deposits. The site admins can't go the government/police for help, neither can they announce that they were hacked.
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