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1321
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Bitcoin / Hardware wallets / Re: Recommendations to store my seed phrase!!
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on: April 25, 2023, 06:58:22 AM
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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. |
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1322
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Bitcoin / Bitcoin Discussion / Re: Geeky crypto thief, 32, jailed for hiding $3billion in Bitcoin in popcorn tin
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on: April 24, 2023, 11:15:09 AM
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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: LoadedWhat'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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1323
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Economy / Speculation / Re: How is everyone doing?
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on: April 24, 2023, 10:56:12 AM
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... users don't need to run a full node, right?
Correct! "Correct" for BCash SV, but not for Bitcoin. I'm sorry ser. Two different networks, two different goals. Bitcoin is actually being built and developed for the science. BCash SV, I leave it to the community to decide. There will probably some people who'll get scammed into thinking it's "the real Bitcoin", but I hope it's not going to be the people from this forum. |
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1324
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Economy / Economics / Re: Germany surprises everyone, the economy keeps growing
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on: April 24, 2023, 07:55:59 AM
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That the countries of Europe without Russian gas and oil could freeze in the coming winter was propaganda by Russia, which sought to force the EU to lift or at least ease international sanctions in exchange for resuming supplies of its oil and gas. This blackmail and threats this time had no effect on the countries of Europe. Yes, long-running supply chains have broken down. But Europe is confidently overcoming this crisis and has already filled its storage facilities by more than 90 percent without Russian energy carriers. By the end of the year, Europe will completely abandon offshore supplies of Russian oil, and this will be a serious blow to the Russian economy. Russia is now losing on all fronts. The bet on force, blackmail and threats did not work this time. Hard times will come not in Europe, but in Russia.
It might all be propaganda, but to reduce their dependency on Russian Gas, Germany reacted by putting coal as their top source for energy production, which is stupid for their "green energy policy" because it's the dirtiest means of energy production. This stupidity started when their government started to approve shutting down their nuclear power plants and replacing them with unstable energy sources like solar and wind, while also importing Russian Gas that started the dependency. I believe all 17 of they're nuclear power plants are now not operating. |
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1325
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Bitcoin / Development & Technical Discussion / Re: Why was Ordinal NFTs created?
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on: April 24, 2023, 07:39:05 AM
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Don't speak that it's absolutely impossible. A person from 2012 would also say the same about Bitcoin surging to $10,000.
bitcoin going from $1 to $10,000 is not the same thing as going from $10,000 to $1,000,000. it's going to need alot of help to reach $1 million things like hyperinflation come to mind...gonna take more than just being useful for some purpose in my opinion. you got fednow coming out soon and countries are jumping on the bandwagon to want to make their own digital currencies. bitcoin can't compete with that. (I mean in terms of the convenience and ease of use factor...why subsidize pictures of monkeys when you just want to transfer money electronically with little to no fee? ) plus you throw in government regulations and it makes it even harder for people to get involved in it in the first place. even if they wanted to. coinbase might not even be in the usa for alot longer. but yet somehow bitcoin is going to go to $1,000,000. americans might not be able to buy it but somehow it will be worth that much. go figure.  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 just starts as a narrative, then as a possibility, then a?  Did it say about zero coins lost? No, check the code.
maybe that's one of the things about the code that need to be reconsidered.   I'll pretend I didn't see that part of your post. |
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1326
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Economy / Trading Discussion / Re: What are your most effective crypto trading strategies?
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on: April 22, 2023, 01:53:28 PM
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Cryptocurrency trading can be both exciting and daunting at the same time, especially for those who are just starting out. There are several trading strategies that traders use to buy and sell cryptocurrencies, manage risk, and maximize profits. In this discussion, let's share our most effective crypto trading strategies and learn from each other.
Questions to consider:
1: What trading strategies have worked for you in the past?
I tried trading shitcoins, it didn't work for me. I buy Bitcoin and HODL. A pleb like me with small capital should keep it simple.
2: How do you manage risk when trading cryptocurrencies?
During 2019, most of my savings went to Bitcoin. It was high risk during that time.
3: What are some indicators or tools that you use to inform your trading decisions?
Nothing. I read, and learned more about Bitcoin.
4: How do you deal with market volatility and sudden price swings?
I don't. Everything is in cold storage, although I sometimes feel the stress.
5: How do you set your buy and sell orders?
Buy the DIP and HODL, and there's another one that might be coming. PREPARE!
6: What advice do you have for new traders who are just starting out?
Keep it simple, and don't diversify. Plebs like us shouldn't trade like the whales with billions in capital. Buy one coin, preferably Bitcoin and HODL! Or probably concentrate on just two or three coins, but never "diversify". You're not a billionaire. |
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1327
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Bitcoin / Development & Technical Discussion / Re: Why was Ordinal NFTs created?
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on: April 22, 2023, 01:37:27 PM
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well if btc is 30k a 6.25 block with 0.15 rewards = 6.4 coins or 192k these numbers do work
it is likely the .15 in rewards is up due to Ordinals and Nfts.
If btc is 60k a 3.125 block with 0.075 in rewards = 3.2 coins or 192k these numbers work
and I dropped out 0.075 in rewards with the assumption that ordinals and nfts reduce due to lack of demand this will hopefully be all true in 2024
So we could be okay for a few more jumps. Without nfts or ordinals
But 2028 120k a 1.56125 block with 0.075 in rewards.
yeah, i dont think anyone really has a good answer for this problem but it does seem to limit bitcoin's upside potential in usd value. bitcoin can't just shoot up higher and higher just because miners want to offset their dwindling block reward. That's true, but since when did Bitcoin surge because miners simply wanted to offset their rewards that are halved every four years? The price is what the market - buyers and sellers - makes.
problems start showing. the 20 mill x 120k = 2.4 trillion value and for the numbers to be okay
difficulty needs 50% growth and efficiency should go from 29 watts to 20 watts per th.
The value of your protection will have went up a bit but price of coins is 4x/
It just get wonky when you project into the future.
imagine 1btc is worth $1M usd. maybe miners would be happy then if they could scrape out a .0001 block reward but it's not going to $1M...not unless the usd experiences hyperinflation but that wouldn't help anyone either. Don't speak that it's absolutely impossible. A person from 2012 would also say the same about Bitcoin surging to $10,000. But from the standpoint of the protocol, it must be preserved. 21,000,000 coins mined
and zero coins lost. how's that?  Did it say about zero coins lost? No, check the code. |
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1328
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Economy / Speculation / Re: Buy the DIP, and HODL!
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on: April 22, 2023, 10:29:04 AM
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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. ARE YOU READY? |
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1329
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Economy / Economics / Re: Does People Really Care About Decentralization?
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on: April 22, 2023, 10:12:38 AM
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What are your thoughts on it, like if we really want to remain anonymous and want to get more control of the internet by leveraging Web3 then why we are riding on the boat of Web2? Why are we still sticking to centralized platform?
Not totally suprising when it comes to the masses would go along on whats the current trending or where do most people do go, doesnt mind if they wouldnt really be that anonymous or something that do talks about decentralization or other stuff. Its not shocking that people would go along into those traditional things, as long they arent doing something bad then they wouldnt mind if their information would really be known and exposed. One thing here is about on social media on which most of their life happenings and events are even posted which we know that this is really a security risks on where letting the public see on whats happening into your life but since we are on a digital era then it turns out to be that so casual. I believe when each region of the world has implemented, and deployed their systems for CBDC, more and more people will learn, THE HARD WAY, that there is a place for a decentralized cryptocurrency in their lives as a back up. It will be an issue among ALL the masses, and then I'm very confident that Bitcoin will be something of high valuable that what it is today. It will not be a "Criminal Coin" but a "Freedom Coin". |
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1330
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Other / Archival / Re: WasabiWallet.io | Open-source, non-custodial Bitcoin Wallet for desktop
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on: April 21, 2023, 03:33:14 PM
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Is it something with Samourai again?
Of course, but it actually doesn't matter who it is. Doxxing anyone simply because they disagree with you is utterly scumbag behavior. I was just asking because Wasabi and Samourai have been in a back and forth, name-calling, and mud-slinging "affair" for maybe more than two years. Hahaha. Wasabi developers vs. Samourai developers boxing match in Miami Bitcoin 2023, like Loomdart vs. RookieXBT in Dubai? |
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1331
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Bitcoin / Bitcoin Discussion / Re: On Ordinals: Where do you stand?
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on: April 21, 2023, 03:20:16 PM
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Using of a blockchain for gaming would be a stupid way to use it, just like dick pics and fart sounds in the Bitcoin blockchain. Nothing of those truly need censorship-resistance.
In most cases that's true. However, Doom's predecessor, Wolfenstein 3D, was banned in Germany for a fairly significant length of time (for obvious reasons). So there may be some fringe cases where censorship resistance could be a legitimate need. But a blockchain remains an incredibly inefficient way to do it. Particularly when filesharing technology has come such a long way and is purpose-built for that task. I'm talking about specifically the Bitcoin blockchain because it would be so inefficient. BitTorrent is a better network for that, the user can just download the files, then run the software locally. When speaking of censorship-resistance, I believe it should solve something and make things more efficient, like for instance ransomware. Everyone sees it as something nefarious, but what Bitcoin actually did is it made a market out of insecure software, therefore making software builders release security updates/patches more often. There was a gap, a need, there that Bitcoin filled. |
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1332
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Economy / Economics / Re: Does People Really Care About Decentralization?
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on: April 21, 2023, 11:46:07 AM
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Actually when looking at it as a whole for myself personally, I care quite a lot about decentralization but not all that is done must always be decentralized because in other cases I also still need a centralized system.
Actually it depends on which perspective we see, I think as long as it is centralized it is still better from one aspect then it can be done but on the other hand from another perspective when decentralization is better then the choice means there. I'm not going to be naive about this because as long as I still have an advantage for myself in both then I'll use it because indeed we live, of course we have to find the easiest way to deal with it.
For some, this is a matter of habit, for some it is convenience, but if you remove one thing now, then many will lose their usual comfort. It seems to me that people are not very worried about decentralization, because it is important for them to shift their responsibility to someone else, let banks be responsible for their money, the state is responsible for their pension, this is convenient because you can always find the culprit if something goes wrong. And this is not their fault, they were just taught like that from childhood, and it seems convenient to them. Is it really a matter of habit, truly just a matter of need or what they think they do/don't need? I believe it's more about the need/what they think they need. Ask an ordinary person, let's pretend the person has an idea, if he/she needs decentralization, and I'm very confident the answer from more than 80% of them would be "NO". Which true in my opinion. Decentralization doesn't have to be everywhere in our lives, although we truly need a decentralized, permissionless, censorship-resistant cryptocurrency as a fall-back in case our current financial system fails. |
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1333
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Bitcoin / Bitcoin Discussion / Re: On Ordinals: Where do you stand?
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on: April 21, 2023, 11:31:15 AM
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Using of a blockchain for gaming would be a stupid way to use it, just like dick pics and fart sounds in the Bitcoin blockchain. Nothing of those truly need censorship-resistance. But, from the technical viewpoint, Ordinals are valid transactions that follows the consensus rules. Some people could argue that it's an exploit, its supporters argue that it's a feature. Both can be right depending on the person's point of view, but from Bitcoin's point of view, they are valid. |
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1334
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Bitcoin / Development & Technical Discussion / Re: Why was Ordinal NFTs created?
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on: April 21, 2023, 08:55:19 AM
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The real difference is the social contract of the 21,000,000 Bitcoin limit isn't broken. It's part of Bitcoin's ethos, and in my personal opinion, it must be preserved.
the problem is, it's not preserved in the sense that people lose access to bitcoin meaning there no longer 21M of them but less. i think if they could recycle lost bitcoins back into the system via increasing the coinbase rewards to miners then maybe that would help miners to not need to worry about decreasing income over time and thus needing things like ordinals to make up the difference. but even if not, it just makes sense that if 21M is really 21M then coins shouldn't be lost forever. because then it's less. But from the standpoint of the protocol, it must be preserved. 21,000,000 coins mined.
Without doing actual Proof Of Work on those tokens? No.
just because something has proof of work done on it doesn't make it useful. maybe its a necessary condition but surely not sufficient otherwise all the bitcoin forks would be useful which clearly no one wants to use most of them if any at all. Usefulness, what coin is, what coin isn't, that's another debate for another topic. But for "BTC-Miner coin", if it truly works to incentivize the miners to continue maintaining Bitcoin's security, then for that reason, it will already be useful. |
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1335
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Economy / Speculation / Re: Bitcoin Miami 2023 Price Prediction
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on: April 19, 2023, 05:21:16 AM
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Last year, the price must have reached around $45,000 at the time of the conference, but I doubt that will happen this year. With less than a month until the conference in Miami, I don't see a 50% price increase from the current price now. If the conference has such a large impact on the price of BTC, we may see an increase before the conference, but certainly not to 45K in such a short period.
I'm also not that optimistic, yet, because I believe that the real surge will come after the halving next year on May, 2024. BUT I'm also having shower-thoughts of, "Am I still in the stage of disbelief"? The price of Bitcoin during the conference will give me my answer. |
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1337
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Economy / Economics / Re: using credit card
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on: April 18, 2023, 04:02:14 PM
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i am studying in college, i was really excited to get my first credit card  . i thought it will give me a sense of independence and allow me to buy things i could not afford with cash. though, i quickly learned that credit cards can be a double edged sword. while they can be helpful in building credit, they can also lead to debt and financial trouble if not used responsibly. at first, i used my credit card reasonably, only for like emergencies or small purchases that i knew i could pay off in full each month. but as time went on, i began using it more and more for larger purchases and impulse buys, without really thinking about how i would pay the balance off. before i knew it, my credit card balance had blown up to several thousand dollars, and i was struggling to make the minimum payments each month. the interest charges alone were eating up a significant portion of my income, and i felt like i was going under debt. OP, NEVER USE YOUR CREDIT CARD FOR "SMALL PURCHASES", ESPECIALLY FOR UNIMPORTANT PURCHASES. For emergencies yes, and for IMPORTANT large purchases for items/things that you truly need, like a laptop to use to be more productive and earn money, or an item that you can use to start a small business = definitely yes. Not necessarily. I've been using a credit card since I was 20, in university, with a small credit limit though. I always paid the monthly bill on time and frequently used it for petrol, groceries, or even other purchases because I was receiving a small cashback each time. Now I have a proper credit card with a large limit that I used to buy my motorcycle in interest-free installments, on which I also received cashback. I'm using it almost everywhere to take advantage of it; it's not too much, but it's still better than nothing. The trick with credit cards is to pay them always on time and to not fall into the trap of installment payments, buying things you don't need or can't afford and going into debt for several years in order to repay them. Petrol and groceries are things you need, it's definitely OK. I'm talking about those small purchases like trendy clothes that you don't need, or something like sunglasses, just things that we want and don't truly need. Because if you can't afford to pay in cash, don't pay for that on credit. It would be a different situation if the person is rich. I understand your point, but I meant something different. I can also afford to buy expensive clothes or could have bought my motorcycle with my debit card, but instead, I prefer to use my credit card, firstly because of the cashback and, secondly, because I'm basically postponing the payment of the item or service I'm purchasing for a month. I know the latter sounds a little stupid, but it's purely psychological and makes no difference. We also don't have the credit rating that the USA has. Clothes, that's a small purchase = debit card. But I do understand your use of the credit card because of the cash back value. Although you also said you pay the bill in full right away, that's OK. The point is, avoid paying interest as much as possible, especially for things you don't truly need. The motorcycle, big purchase = credit card, especially if you don't have more than ten months worth of savings, it could help.
The issue starts if you're overpurchasing things you don't actually need and start piling debt on your cards. An easy way to fall for this is with interest-free installments.
YES! |
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1338
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Other / Archival / Re: WasabiWallet.io | Open-source, non-custodial Bitcoin Wallet for desktop
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on: April 18, 2023, 03:46:08 PM
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I'm on your side, but to play the Devil's Advocate, those "better services" are like sitting ducks. Sooner or later a S.W.A.T. team is telling them that their front door is about to break down. It's probably why services like WasabiWallet and some exchanges have accepted the trade-off to act in-accordance to government demands.
How do you propose law enforcement take down JoinMarket, which is software which is run on thousands and thousands of individual computers around the world, via Tor, and has no central coordinator? How do you propose they take down Bisq, which has the same set up? The truly decentralized services are resistant to censorship in exactly the same way bitcoin itself is. A government could shutdown a centralized exchange or Wasabi's centralized coordinator, but they can't shutdown every Bisq trader or every JoinMarket user, just as they can't shutdown every bitcoin node. They can't, but sometimes they don't have to. If they can't take it down they always turn to going after the user, or the developer. I believe when using truly decentralized tools like JoinMarket and BISQ, the user must be extra careful because that's probably where most eyes of the government are looking. To the networks they can't take down.
On another note, and I am deliberately not going to link to any of the tweets, but in the last 48 hours there has been a bunch of Twitter drama due to Wasabi publicly doxxing their competitors. Says it all really. The landing page of wasabiwallet.io says in big font right at the start "Privacy is your ability to selectively reveal yourself to the world". And then the Wasabi devs completely ignore that statement and start doxxing people who disagree with them. Imagine trying to pass yourself off as pro-privacy as you fund blockchain analysis and dox people you don't like? Absolutely despicable behavior, and should show everyone just where the priorities of Wasabi lie. They don't care in the slightest about your privacy. Can't wait for our resident shill to come and tell us how doxxing people you don't like is actually fine. Is it something with Samourai again? |
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1339
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Other / Archival / Re: WasabiWallet.io | Open-source, non-custodial Bitcoin Wallet for desktop
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on: April 18, 2023, 08:18:06 AM
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As I have said many times when the topic of tainted bitcoin comes up: The correct response to some centralized service stating that your coins are tainted and they won't accept them is not to modify your behavior and sacrifice your privacy to acquiesce to the arbitrary demands of said service. Rather, it is to find a better service which does not enforce such absolute arbitrary nonsense. This applies equally to centralized exchanges as it does to Wasabi, both of which support mass surveillance, fund blockchain analysis, and arbitrarily refuse certain UTXOs based on secret criteria.
I'm on your side, but to play the Devil's Advocate, those "better services" are like sitting ducks. Sooner or later a S.W.A.T. team is telling them that their front door is about to break down. It's probably why services like WasabiWallet and some exchanges have accepted the trade-off to act in-accordance to government demands. |
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1340
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Bitcoin / Development & Technical Discussion / Re: Why was Ordinal NFTs created?
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on: April 18, 2023, 08:06:34 AM
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They probably will if it's life or death for Bitcoin, but in my opinion, the tail reward paid in another chain that's merge-mined with Bitcoin, IF implemented securely and IF gets social consensus, would be a compromise. It will continue to incentivize the miners without breaking the social contract.
what's the real difference though? whatever you pay out the tail reward on, someone has to be willing to step up to the plate and buy those worthless piece of crap tokens... The real difference is the social contract of the 21,000,000 Bitcoin limit isn't broken. It's part of Bitcoin's ethos, and in my personal opinion, it must be preserved. Plus it's not us plebs who decides what's worthless, just the market. We can call them shitcoins though.
why don't we push your solution to the extreme and say that someone invents a way to pay out the tail reward in ethereum. but they still need someone to put up the actual money...and that's the problem. why would people want to do that?
Without doing actual Proof Of Work on those tokens? No. |
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