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1361  Economy / Speculation / Re: Buy the DIP, and HODL! on: April 12, 2023, 09:00:27 AM
I have a shower-thought-question for the readers of this topic. From and investor's standpoint, does Ordinals make you more bullish, or more bearish on Bitcoin, compared to 6 to 12 months ago?

Pros - Ordinals may bring more demand for block space, more rewards for miners through fees, and possibly also bring more demand for BTC.

Cons - Ordinals may be used as an attack vector for spamming the network, it stores dick pics and fart sounds in the blockchain, and it could open other attack unknown vectors.

Holy fucking shit.

You could at least try to stay on topic, and then you just invite more divergence from the topic when you cannot at least present your question in a way that is relevant to the topic.


Not entirely off-topic. I was merely asking because "IF the pros outweigh the cons", don't forget I said "IF", then from a viewpoint of a Buy the DIP and HODL type of investor, Ordinals could be something very bullish for the future of the network because it could bring sustainability for incentivizing miners through fees as the block rewards go down.
1362  Other / Archival / Re: WasabiWallet.io | Open-source, non-custodial Bitcoin Wallet for desktop on: April 12, 2023, 08:48:39 AM
Sorry, might be off-topic, but I'm curious, do you frequently use Sparrow Wallet? I have it downloaded, but have yet to install it, to try their implementation of BIP-47. I just want to ask about your personal experience in using the wallet, and in your opinion, if it's good to use for public donations to avoid the sanctions that happened to the Trucker's Protest wallet.
I wouldn't say frequently, but I certainly use it from time to time. It is great at just how easy it is to run from your own node. Unlike Electrum, you don't have to run an Electrum server on top your node. You can just point Sparrow directly at your node, and off it goes. have never used its BIP47/PayNym function.

In what way are you looking to avoid sanctions? If your addresses/UTXOs are already sanctioned, or the addresses you are sending to are sanctioned, then it does not matter what wallet you use to make the transaction. The obvious option is simply not to interact with any service which employs blockchain analysis, treats some UTXOs as tainted, and is anti-fungibility and pro-censorship. Unless you mean about using Whirlpool via Sparrow to remove any "taint" or other such nonsense from your UTXOs? It's certainly a very easy option. As I said, it is incredibly easy to run Sparrow from your own node and also incredibly easy to route any external traffic via Tor, which means you can use Whirlpool completely anonymously and completely trustlessly. And of course there is no risk of being censored with Whirlpool like there is with Wasabi.

If you want the best coinjoining method out there then JoinMarket is where you should go, but it remains harder to set up and use than Samourai/Sparrow.


It's not for me. It's about Canada's Trucker's Protest, which I consider both a success and a failure for Bitcoin. It's a success because Bitcoin was chosen as an alternative for centralized donations sites, but it's a failure at the same time because the government could sanction a public address, follow the coins, and make it harder to use those coins.

I believe BIP-47/Reusable Payment Codes might help gain anonymity and privacy back, which is implemented in Sparrow Wallet. But I haven't tried it for myself yet, that's why I'm asking you.
1363  Other / Archival / Re: WasabiWallet.io | Open-source, non-custodial Bitcoin Wallet for desktop on: April 11, 2023, 11:37:55 AM
Or just use a coinjoin implementation which is not actively coordinating with blockchain analysis, is not anti-privacy, and is not pro-censorship.

JoinMarket remains the best but also the hardest for the average user to use. So for them they can either download Samourai on mobile or Sparrow on desktop and use Whirlpool.


Sorry, might be off-topic, but I'm curious, do you frequently use Sparrow Wallet? I have it downloaded, but have yet to install it, to try their implementation of BIP-47. I just want to ask about your personal experience in using the wallet, and in your opinion, if it's good to use for public donations to avoid the sanctions that happened to the Trucker's Protest wallet.
1364  Economy / Trading Discussion / Re: Trade up capital: $200 on: April 11, 2023, 11:29:49 AM
With such a small deposit you can't expect much.  After how many days do you want to return the money to your wife?

That's a good enough amount to start trading, but the OP's mistake here is that he thinks trading is an easy way to make money and will pay back his wife when he makes a profit. It can be said that this is the mistake that most beginners make because even top traders have no guarantee that they will always make a profit when trading.

By the way, I want to tell OP that taking your wife's money is not good, if you want to participate in the market, make your own money and invest in it. Cryptocurrency investing or trading is very risky, so invest only the amount you can lose. If you invest without knowledge, you are gambling, and that will only make you lose.


Even $100 would be sufficient on my part when i would be still a noob or having that zero knowledge on trading on which it would really be just sufficient because its not on how big the capital you do have but rather its the sustenance that you would be making on prolonging yourself into something which we know that it wont really be that simple specially on dealing with this unpredictable market.

It is really that on wrong perception that the bigger the capital the bigger money you would have or speaking about profits which is really wrong. The target that we should really be thriving for is on how you do able to make your capital way more bigger and lessening up the losses or errors you do make.


I believe we as plebs should go for bigger, and try to make life-changing money, while Bitcoin's market is still inefficient. Because the current market conditions of high volatility and high demand might not continue going on forever. I'm not suggesting that you steal your wife's money, but do try to get more capital and purchase as much Bitcoin as you can, and HODL.
1365  Bitcoin / Bitcoin Discussion / Re: Bitcoin Expected to Trade Similar to Gold or Treasury Bonds in the Future, Predi on: April 11, 2023, 08:40:45 AM
But gold and treasury bonds are boring as fuck. If bitcoin trades like these assets then it is volatility will go down and that means bitcoin may stay flat for years. See the gold price chart it is disgusting. It is barely above 2000 bucks and it was already at $1800 in 2013. 10 damn years lost on this if you bought this in 2013. I don’t want bitcoin to be like gold tbh. I don’t want bitcoin to be a boring boomer asset.

For investors, no one wants that to happen, and that's also why we invest in bitcoin more than gold. The higher the volatility, the more profitable, and I really hope bitcoin will always hold this factor. But it is difficult to say what will happen in the future, and as we have also seen, the volatility of bitcoin is gradually shrinking. The returns in recent years have started to be smaller than in previous years as bitcoin has gotten bigger, but in return, it has become safer than it was in years past.


The Bitcoin market might only have one or two cycles more before it truly matures, and becomes a "boring market" like Gold or the Brent Oil market. I can't say that it will absolutely happen in one or two cycles, but just like your observation, it becomes a higher probability after each cycle. BUT, I believe there's also some probability that the next bull cycle might be the same as 2015 - 2017, when the Federal Reserve returns to QE/BRRR-Money-Printing.
1366  Economy / Economics / Re: The world continues dumping US dollar (Gold, New World Order, World War III) on: April 11, 2023, 08:19:43 AM
Now there is news from India that Indian Rupee has also gone up to become global currency as 18 countries have agreed to trade in Indian Rupee. This announcement came in the backdrop of the commodities crisis due to sanctions imposed by US and EU on Russia due to Ukraine crisis. These 18 countries include:  
Quote
Botswana, Fiji, Germany, Guyana, Israel, Kenya, Malaysia, Mauritius, Myanmar, New Zealand, Oman, Russia, Seychelles, Singapore, Sri Lanka, Tanzania, Uganda and the United Kingdom.

This move will help importers in Indian to import goods by paying in Indian rupee. India is taking full advantage of current wave of de-dollarize, as India is one of key ally of Russia.


I don't believe that the U.S. Dollar will be "ditched" and removed as a global reserve currency unless we see the MAJORITY of people from the U.S. and other countries wanting to migrate to China, India, or Russia in order to earn their salaries in those countries' salaries.
1367  Economy / Speculation / Re: MicroStrategy Buys Another 1,045 bitcoins for $29.3m on: April 11, 2023, 06:27:37 AM
So he is finally back at break even. Very crazy how he started out with a good dollar average and then by buying high he put himself in a huge bad bag holding position for over a year. Very glade that he wasnt margin called below $20K like many said he would.

Now we just need to make sure he doesn’t start dumping. Due to the state of the economy he might be forced by his shareholders or management to lighten his load and scale out. If we see that during his earnings report then I’ll cause a sell off obviously.


He will never sell! Chad Saylor's Bitcoin "gamble", if Bitcoin surges to six digits/near seven digits, will probably be written in history books as one of the greatest investment decisions of all time, possibly comparable to those great investing barons of the past like when Cornelius Vanderbilt bought most of the rail road companies when they were in a DIP.
1368  Economy / Trading Discussion / Re: Trade up capital: $200 on: April 10, 2023, 02:57:48 PM

I wants to begins trading but I don't have money in coven, I took my wife's $200 to put it into trading wallet pending where I will do good in trading returns my wife's's money. Could this be enough to start trade?


Did you really do that? Hahaha.

Quote

My wife's mum's has suspect me of taking my wife's money and she didn't know I have already confess to my wife but my sweetheart doesn't wants her mum to interferes in our family matter that she knows am the one who took the money.


Hahahaha.

Quote

So what do I do now that the money is legal in my hand?


My serious answer is, you should return your wife's money, get a job a second job and get another source of income, then save as much of the monthly salary as you can for buying and HODLing Bitcoin.

But if you don't want to return your wife's money, and you don't have a job, my less serious answer is gamble in a shitcoin, and pray you can get 100x, then use the profit to buy and HODL Bitcoin.
1369  Bitcoin / Hardware wallets / Re: (announced) WATERPROOF CRYPTO WALLET CASE for Ledger Nano and Trezor Hardware St on: April 10, 2023, 11:39:12 AM
there are a few other ways to protect a trezor.

but this one is nice.


It could also give the user of possible options in how to store all of their physical back ups. I hide my back ups in different parts of the house, hide one in the car, hide another one in my parent's house, and now with the Waterproof Crypto Wallet Case, I can hide one in the toilet tank!

 Cool
1370  Other / Archival / Re: WasabiWallet.io | Open-source, non-custodial Bitcoin Wallet for desktop on: April 10, 2023, 11:23:13 AM
Quote
Something's Wrong With The Coinjoins
https://github.com/zkSNACKs/WalletWasabi/issues/10462


Quote

Little progress report:

The high fee unfortunately is "normal" here and that's something we're constantly improving and there's a lot of room for improvement there.

Privacy getting lost is what does not seem normal, but a bug. It'd be only normal if the users would be the largest participants in the rounds, but that's not the case.

I took a look at the only modification we've done for the release: #10100 and it does not seem to be the culprit, because it barely affects anything and I tested against some wallets.

https://github.com/zkSNACKs/WalletWasabi/issues/10462#issuecomment-1501026369


High fees for WasabiWallet = Impractical

It will currently be cheaper to accept the slippage and the fees to trade through BISQ for a coin like Monero, and get better privacy for making your transactions in it, then converting back to Bitcoin if needed.  
1371  Bitcoin / Development & Technical Discussion / Re: Why was Ordinal NFTs created? on: April 10, 2023, 08:03:01 AM
The introduction of inscriptions on Bitcoin’s mainnet  made the creation of Ordinal NFTs on the bitcoin Blockchain. I have read lot of negative comments about the effects of Ordinal NFTs on Bitcoin Blockchain and so I would like to know why it was still created despite negative effects it can have,Although there are some positive comments, The negative comments are something that can cause stressing issues later on.

In short: greed. Some people got carried away with a possibility to sell monkey pics to gullible peeps, that's all. Miners got excited too as they're earning extra buck for processing spam transactions. Again, it's greed.  Roll Eyes


Anyone could call it greed, but to put it more simply, it's actually just Incentivization. In a decentralized system such as Bitcoin, to have everything constantly working and sticking together, the miners must be incentivized to do their job, or be penalized if they failed or if they didn't do anything.

Excellent post.


While my first thought is to bat-slap  serveria.com  for saying miners are greedy, you managed to make a much more intelligent reply.


With all due respect, a bat-slap doesn't encourage learning ser. I believe many people make such comments because there's simply a misunderstanding on how and why Bitcoin actually works. I also make the same mistake sometimes, and I need to be taught, not bat-slapped.

Quote

As I type I am mining with 3 other people one 3 locations.

Due to mining we have built a 280 kwatt solar array. and a 45 kwatt solar array. These produce about 1.25 megawatts a day. This is real wealth created by BTC's financial incentives.

I love NFT's and Ordinals for the ability to continue to incentivize mining of BTC.

I am 66 I so wish I was 36 as I know mining coin with my partners will allow us to build more solar arrays as long as mining continues to sweeten the pot so to speak. If I was 30 years younger I would operate a bit differently.

I see all of this as Satoshi's idea of turning energy into coin.

So I am pro mining my biggest issue is many people do not see what I see. BTC could be used to help pay for 1000 megawatts of solar every year. Throughout  USA and rest of the world.

Below is great adventure in New Jersey Notice only ⅓ of the parking lots have solar.
One of my partners has the service contract to keep the panels they have running.
He has talked with them on and off about expansion to more of the parking lots. One of the talking points is they can earn money mining when the park closes from Jan to April.





Now we see mining for what it is watts turn into coin.
As solar business is real and working we rather BTC stay on top of things and figure ways to keep its rewards and fees for mining.

But to be honest scrypt algo since 2020 fall which is around 2.5 years has been better for us than BTC.

mining LTC/Doge makes more $$ per watt than mining BTC
.

And here we have a thread with many people arguing against putting more reward/fee money for BTC

Our main business is not mining.

2 of us own warehouses
1 of us owns a solar business
1 of us me is a retired Navy veteran

So attacking ordinals and NFTs simple makes us diversify into Gpus and Scrypt.

We are very green and want to be more green. Rather than hurting us simply attack miners that do nothing to make the industry green.

one last thing is if all mining dies and all coins die, we will still have solar arrays with 20 years left on warranty making 1.25 megawatts a day which is about 1250 x 14 cents = 175 dollars a day in power or $63,875 a year


But with Ordinals bringing more demand for block space = higher fees, and possibly also bringing more demand for Bitcoin itself, would you say that "mining LTC/Doge makes more $$ per watt than mining BTC" is more seasonal?
1372  Economy / Speculation / Re: Buy the DIP, and HODL! on: April 10, 2023, 07:47:12 AM
I have a shower-thought-question for the readers of this topic. From and investor's standpoint, does Ordinals make you more bullish, or more bearish on Bitcoin, compared to 6 to 12 months ago?

Pros - Ordinals may bring more demand for block space, more rewards for miners through fees, and possibly also bring more demand for BTC.

Cons - Ordinals may be used as an attack vector for spamming the network, it stores dick pics and fart sounds in the blockchain, and it could open other attack unknown vectors.
1373  Bitcoin / Bitcoin Discussion / Re: Bitcoin Expected to Trade Similar to Gold or Treasury Bonds in the Future, Predi on: April 07, 2023, 02:08:10 PM
But gold and treasury bonds are boring as fuck. If bitcoin trades like these assets then it is volatility will go down and that means bitcoin may stay flat for years. See the gold price chart it is disgusting. It is barely above 2000 bucks and it was already at $1800 in 2013. 10 damn years lost on this if you bought this in 2013. I don’t want bitcoin to be like gold tbh. I don’t want bitcoin to be a boring boomer asset.


But when more investors from legacy markets enter Bitcoin, when Bitcoin becomes more mainstream, and when Bitcoin speculators become wiser investors, then with high probability the Bitcoin market will become more efficient. We could see two more cycles of high volatility and market inefficiency before Bitcoin moves like Gold or high-value stocks. Although, I also believe that Bitcoin would have a six digit valuation before that happens.
1374  Bitcoin / Bitcoin Discussion / Re: 1% own 99% of BTC, 1% have 99% of power? on: April 07, 2023, 01:47:52 PM
Uhhh 1% does not own 99% of Bitcoin. No idea where you got that idea from.


OP was merely illustrating a hypothetical situation in which, yes, Bitcoin would have failed if 99% of the supply is HODLed by 1% of the total participants of the network. I also brought up a shower thought before, and asked that "If there's enough Bitcoin under the custody of centralized entities, and the only way to use Bitcoin is through their services/applications, would Bitcoin have failed"?
1375  Economy / Speculation / Re: MicroStrategy Buys Another 1,045 bitcoins for $29.3m on: April 07, 2023, 10:51:08 AM

As in topic's subject: MicroStrategy Buys Another 1,045 bitcoins for $29.3m:

https://www.coindesk.com/business/2023/04/05/microstrategy-buys-another-1045-bitcoin-for-239m/

^ in the article there's a typo, they've spent $29.3m not $23.9m.

https://twitter.com/saylor/status/1643586872839471105?t=L7IzW6T8ltWlRp-9pB3Oow&s=19

How does it make you feel that the company that is not doing very in terms of operating profitability is further increasing its exposure to Bitcoin, and now sits at 140,000 bitcoins. I'm a little uncortable with a thought that if things go further south for them, they might be forced to dump it all on the market.

Be like Giga-Chad-Saylor. No charts, no research, no leverage, no strategy, no shitcoins, only Bitcoin and bids whenever he believes it's the right time, then becomes one of the largest HODLers of Bitcoin.

 Cool

His results during the next bull cycle? Priceless.
1376  Bitcoin / Hardware wallets / Re: Trezor CoinJoin Testing on: April 07, 2023, 10:38:19 AM
...

That's interesting as well as very good news dkbit98.

I'd be interested to hear comments and results after their testing is done.


Me too! Although, I'm curious how they're going to implement CoinJoin in their wallet-suite when it's officially released. Will they accept the trade-off and have the same implementation as Wasabi Wallet did to avoid problems with government, or will they accept ALL outputs through their coordinator?
1377  Bitcoin / Development & Technical Discussion / Re: Why was Ordinal NFTs created? on: April 06, 2023, 11:37:05 AM
The introduction of inscriptions on Bitcoin’s mainnet  made the creation of Ordinal NFTs on the bitcoin Blockchain. I have read lot of negative comments about the effects of Ordinal NFTs on Bitcoin Blockchain and so I would like to know why it was still created despite negative effects it can have,Although there are some positive comments, The negative comments are something that can cause stressing issues later on.

In short: greed. Some people got carried away with a possibility to sell monkey pics to gullible peeps, that's all. Miners got excited too as they're earning extra buck for processing spam transactions. Again, it's greedRoll Eyes


Anyone could call it greed, but to put it more simply, it's actually just Incentivization. In a decentralized system such as Bitcoin, to have everything constantly working and sticking together, the miners must be incentivized to do their job, or be penalized if they failed or if they didn't do anything.
1378  Economy / Economics / Re: Ditch the Dollar on: April 06, 2023, 11:15:07 AM

--Snip--

Therefore, all this hysteria with "give up the dollar" is just a beautiful game of China, with its "not intelligent servants", but no world conspiracy Smiley


Another reason why no country is going to truly "ditch the Dollar" is because no young, and able citizen from around the world are in a hurry in applying to be Chinese residents to earn their salaries in Yuan. Everyone wants to earn in the U.S. Dollar simply because it's ahead than any other currency in? Spendability, Saveability, and Liquidity.

 Cool
1379  Economy / Trading Discussion / Re: Are you profitable? on: April 06, 2023, 09:18:10 AM
Another cynical, but possibly true, viewpoint would be is that those "influencers" are actually paid secretly by "sponsors", like exchanges, to encourage the plebs and the newbies to use a more active trading strategy. It encourages more buy/sell orders, which converts to more trading fees for the exchange.

I have worked with plenty of them in my time as a marketing person, I can tell that they are not secretly paid, people know they are paid, it's open for business, they even list their prices and then promote the coins that pay it and for some reason people still buy it.

You want to know the reason? When an influencer is too big, even things they promote, however terrible they are, may go up because those influencers could make it big, people buy because they think they can make a profit from that and because they do buy it, sometimes it does go up, and they think even terrible projects would go up because influencers promoted it, that's the only reason.


OK, so it's not a secret. That should give plebs, especially newbies, a lot more doubts and a lot more cynicism on what benefit the influencers' work actually brings. The question for users, is their content for the benefit of the plebs like us, or is it for their sponsors?
1380  Bitcoin / Bitcoin Discussion / Re: Bitcoin mixing is NOT money laundering, per se on: April 06, 2023, 09:03:17 AM
Yeah, I know that mixing/tumbling is different from BIP-47/Reusable Payment Codes, but can't BIP-47 help a little in making our onchain activities in Bitcoin more private? For example in the Trucker's Protest, I see it now as both a success and a failure, but if the truckers used a wallet that applied BIP-47, wouldn't the government have had a harder time to sanction the donations?

payment codes is where there is a partnership involved.

all donators would have to be in on the secret to know whats the next address to use. and they would need to organise who sends to which address so they dont all just end up sending to the same next address,, and due to lots of different donators its hard to do because a honeypot can be done where the authorities become a partner(pretend to be a donator to get in the secret reveal club) and get the secret thus the honeypot then knows the list of addresses


also later(separate flaw) when its time to spend funds received. usually utxos are clumped together as multiple inputs, so unless spending each utxo individually by manually choosing utxo's for input to never co-mingling utxo's into one spend. those numerous addresses may end up being linked later

as for blackhat. he is the person that wants other peoples posts deleted and people banned and tries to tell people that they should not use bitcoin normally and promotes other networks and services that end up messing with people more. and he is in complete ignorant blindness of his actions. he prefers other networks so all insults he says to me apply to him 1000x

he doesnt want you to think for yourself or do your own research he just wants you to follow the group narrative you got recruited into by his forum wife.

even now in this topic he avoids the regulators guidance of how legit services should treat mixers.

for instance he only displays info that echos his preconceived confirmation bias (sounds like stuff he likes to hear). rather then things that are part of the real world. take the chain analysis stats. .. chain analysis only know of SOME criminal activity due to SOME poorly made privacy options. however there are many other better ones that chain analysis cant audit.

EG the police only know about the crimes that got reported. although there are xX more crimes that go unreported. thus crime stats are BS


Honestly franky1, and before I ask some people who are smarter than me about BIP-47, is that how it truly works? Because I've read a few blogs/articles and I have never read/seen anything/any explanation about a "nefarious user" needing to be "in on the secret", and getting the capability to know the list of addresses.
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