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1561  Economy / Speculation / Re: Buy the DIP, and HODL! on: February 09, 2023, 12:15:45 PM
The principle of all trading whether short trading or long trading is same, you have to buy in dumping market and sell the invested coins in pumping market.  But if the market is dumping again after buying then you need to hold until the market starts pumping again. However, there are some cryptocurrencies that need to be held after investing in the market for a long time.
That is not true at all.
For starters trading is very different from investing long term. What you do also depends a lot on the market. For example a shitcoin that is dumping should be avoided like the plague. There is no reason for them to get pumped again.

You are also working in reverse in "pump participation strategy". When you see the shitcoin pumping you should buy in and sell it before it starts dumping. If you buy after the dump begins hoping for another pump, you are heading for disaster.


Plus from the standpoint of plebs like us, who merely get lucky because we were just in the right place, during the right time, trading profits, and trading losses, usually add to negative, OR a smaller amount of profit compared to our own projections illustrated by our own imagination/fantasies. But if we plebs truly just "get lucky", then why not Buy the DIP during a bear market, and HODL to maximize the luck. Cool

1562  Economy / Trading Discussion / Re: Trading addiction, are you coping? on: February 09, 2023, 10:21:49 AM
Addiction from trading or more like treating depression from losing a lot of money? I would choose the latter as a more valid reason to be confined or rehabilitated hehe. They just needed to put a new name to it for distinction and it's probably the same how they came up with the term "gambling addiction".


But gambling addiction is real, and trading is, to some degree, the same as gambling because you need to take monetary risks in each trade just like you're betting in something like a dice game. It's that feature in both gambling and trading that makes it feel exciting, and the excitement comes when dopmaines are released in our brains. The dopamine release, to have the same feeling when you're used to it, you're required to gamble/trade more and more with larger amounts. Don't treat "gambling addiction" like something fake. It's very real.
1563  Bitcoin / Bitcoin Discussion / Re: Bitcoin History, Philosophy, And Prehistory on: February 09, 2023, 10:03:40 AM

--Snip--


This troll comes in the topic, he tries to derail it, starts being a drama-queen, then starts the franky-101 misinformation/disinformation/gaslighting campaign. Don't believe me? Look at who actually gave him a negative trust rating, and read what they wrote about him, and he's called an "anti-hero"? He's a villain, and he has always been anti-Bitcoin.

He uses sentences like, "to explain the version of history that winfury is subtly pushing". A version I'm pushing? Hahaha. Those are the FACTS, not lies. Bitcoin's Prehistory, and history. BUT if you want to learn the hard way, learn everything from franky-101.

I'll post THE FACTS again.

HashCash, https://learn.saylor.org/mod/book/view.php?id=30735&chapterid=6706

B-Money, https://learn.saylor.org/mod/book/view.php?id=30735&chapterid=6705

BitGold, https://learn.saylor.org/mod/book/view.php?id=30735&chapterid=6704

 Cool
1564  Bitcoin / Bitcoin Discussion / Re: On Ordinals: Where do you stand? on: February 09, 2023, 05:21:27 AM
"permissionless freedom"

says the guy that hates the idea of increasing the blocksize to allow more lean transactions

If and when node operators want to bear that cost, it'll happen.  Not when you screech and whine about it.  It's not your place to tell others what burden they "should" accept in order to run a node. 
People will decide that for themselves, because freedom.


says the guy that hates the idea of low fees to allow more people of the world to afford to use the bitcoin network

I don't hate the idea of low fees.  I hate the idea of artificially manipulating market forces to achieve your desired outcome.  I hate you thinking you get to arbitrarily decide what fees others "should" pay. 
People will decide that for themselves, because freedom.


says the guy that shouts out if you dont like cores plan, should fork off to an altcoin and go away

If you want to implement something which is incompatible with what the majority of users want, it's your best option.  Screeching and crying about it doesn't make me wrong.


doomad wants CORE to have the freedoms to do as they please..

ALL devs.  Not just Core ones. 

You are the one who wants to maintain the absurd position that Core devs hold all the power.  It's the people who run the code who have the power.  If Core do something those users don't like, they won't run it.  Although I'm starting to think maybe you do run Bitcoin Core, even though you claim to disagree with it.  Is that where all your anger stems from?  Are you some sort of masochist who runs code they overtly despise?


doomad hates the idea of consensus

I hate your twisted, moronic, demented fantasy of what consensus "should" be.  Every time you repeat your "tRuE cOnSeNsUs" catchphrase (like the braindead parrot you are), I read it as "bullshit nonsense franky1 totalitarian pipe-dream".  You don't understand consensus and wish to utterly pervert its meaning.  Feel free to have your own ridiculous definitions of words, but don't expect the rest of us to abide by them.


The nerve of the troll. He merely changes his narrative to gaslight everyone, and when someone points out what he's doing, he tells you that you're starting Social Drama. That's = franky-101 for everyone. There are some newbies who are starting to debate for him, then saying that his viewpoint is merely different from the majority. There will just be some users who learned the hard way. Cool

But let's not go off-topic like what the troll wants to do.

Someone built a site that everyone can use to inscribe without running their own node, https://ordinalsbot.com/

The blockchain will be full of dick pics by the next halving.
1565  Bitcoin / Development & Technical Discussion / Re: Drivechain critiques by gmaxwell revisited, maybe you changed your mind? on: February 09, 2023, 05:10:19 AM
Bump.

Quote

"Adam Back, Co-Founder and CEO of Blockstream
""Drivechains...are pretty cool...and arguably could have been more important or useful than let’s say Taproot.""
""props to @Truthcoin and team for implementing and validating drivechain design.”"

"Olaoluwa Osuntokun, CTO of Lightning Labs
""In the past year, the drivechain specs seem to have come a long way."""

"Sergio Demian Lerner, Chief of Innovation at IOV Labs and Designer of the RSK Rootstock Bitcoin sidechain
""[...] migrate Rootstock to a drivechain when it is softforked into Bitcoin [...] the destiny is to become fully decentralized.""
""[...] sidechains are the natural extension of the Bitcoin finance stack [...]. A sidechain is a blockchain that is highly incentive-aligned with the Bitcoin community."""

https://docs.google.com/spreadsheets/d/1m4PpNIdBKuLC6FzLOoIfvHXcnrSh6dnOqPrqKg-zJEw/edit#gid=0


There's a spreadsheet containing some quotes, with links, from people who are probably "Friends of Drivechain". Three years later from the creation of the topic, what's everyone's updated opinions about BIP-300 now that Ordinals are starting to become an inconvenience for Bitcoin users who simply want to use the blockchain for financial transactions?
1566  Economy / Speculation / Re: Buy the DIP, and HODL! on: February 08, 2023, 11:56:22 AM
I know you always encourage HODLing. I was merely making a point that it's currently one of those "golden opportunities" that plebs like us can start blindly buying Bitcoin, then DCA if it goes lower/crashes, and be confident that in two years, you know you will have profit if you want to sell. Golden opportunties like these are infrequent, and everyone should take it if there's extra savings available.
In the end it only becomes a matter of how strong we are in holding back, because regardless of anything and however the market conditions are, it is indeed a strong hand that will survive. It might be a little different if we let go when the conditions are favorable for us, but basically things like that aren't always going to be easy because we also always have conditions where the market isn't going well and panic hits so being mentally strong and trying to keep holding on is something really good.


You want it to be a little easy? LEARN and EDUCATE yourself about Bitcoin. Its history, its philosophy, its ethos, and where its going as the next step in the evolution of money and finance. Once you truly learn and understand, then HODLing through the bearish cycles will be easier. Why? Because you know that it's, for better or worse, something the world needs or will need. It's simply Bitcoin's time, like the invention of the printing press, the telephone, the internet.
1567  Bitcoin / Bitcoin Discussion / Re: On Ordinals: Where do you stand? on: February 08, 2023, 11:40:20 AM
Honestly, I am very impartial on which one's making sense and who's right. On one hand, Ordinals and their supporters have a point. At this point in time there's no use appealing to what Satoshi would've wanted for bitcoin. The project is bigger than him now and is already self-serving, so I don't think any of his opinions matter at this point. On the other, I can see this causing problems in the long run, they won't be the last project that's going to run in the bitcoin blockchain, thus this may cause issues down the line in the matters of transaction processes.

Purists do not have a say in this. They are clowns at most.


Your debate is for censorship-resistance. That's very understandable. The day the miners censor anything from being included in the blockchain, or are coerced to censor, will be the day Bitcoin failed. BUT calling purists, clowns? That's a little unfair, because the purists' concerns if Ordinals will be a success are about, blockchain bloat, possbility of constant high fees, and Sats lose fungibility. It can be used as an attack vector as well. Those concerns shouldbe YOUR concern too as a user. Plus Bitcoin users who doesn't know the meaning of RBF will definitely know the meaning of RBF. Cool
1568  Bitcoin / Development & Technical Discussion / Re: NFTs in the Bitcoin blockchain - Ordinal Theory on: February 08, 2023, 09:02:47 AM
Yesterday someone decide to create an NFT[1] which has size 3915537 bytes with 0 tx fee[2]. I can't believe pool Luxor (which mine that transaction) would rather mint an NFT rather than earning more Bitcoin from tx fee. They even made tweet about it[3], where the response isn't positive.

[1] https://ordinals.com/inscription/0301e0480b374b32851a9462db29dc19fe830a7f7d7a88b81612b9d42099c0aei0
[2] https://mempool.space/tx/0301e0480b374b32851a9462db29dc19fe830a7f7d7a88b81612b9d42099c0ae
[3] https://twitter.com/LuxorTechTeam/status/1620921129287430144


That's merely signalling for Ordinals/Inscribing/NFTs in the Bitcoin Blockchain because "they" probably think that long term, the success of Ordinals might bring higher demand to use Bitcoin, then therefore higher profit for mining, which will definitely increase the total hashing power, and then also increase the network's security.

The main utility for Ordinals for those haters of Bitcoin Core, and the Bitcoin Core Developers, is they can inscribe dick pics and know that they will be in gmaxwell's node, achow's node, everyone's nodes.

 Roll Eyes
1569  Economy / Economics / Re: "Prepare for defation in 2023" on: February 08, 2023, 08:38:30 AM

Prepare to experience a big surge for Bitcoin like it was 2015 - 2017 Cool

Deflation is always worse than inflation. Deflation means sustained decrease in prices of goods and services, can have several negative consequences on economy such as , decreased spending, reduced investment in new projects and hiring. This ultimately results in increase in unemployment which is not only bad for economy but also impacts vote bank of ruling party.


But aggressive QT/tightening is what the cabal behind the Federal Reserve must do to fight and control inflation, or else, the U.S. Dollar will be under the risk of hyperinflation.

The Federal Reserve's mandate is price stability, they have to have inflation under control.

Quote

It is expected, that during deflation the both stocks and crypto markets may perform poorly.
I don't think FED will allow deflation to occur in USA, they will start printing money as soon as they detect some signs of deflation.


I believe BRRR-Money-Printing will start as soon as something breaks. That's when Bitcoin WILL start to surge like it was during 2015 - 2017, because we already know that there's high probability that they will over-adjust in QE/expansion.

Although, Jerome Powell is indicating that the Fed might stop tightening, and pivot earlier than planned.
1570  Economy / Economics / Re: The world continues dumping US dollar (Gold, New World Order, World War III) on: February 08, 2023, 08:26:13 AM
The questionable decisions of cabal behind the Federal Reserve is another debate for another topic. But the point is the demand for the U.S. Dollar among the economies that aren't sanctioned still have high demand of the U.S. Dollar. Why? Because of its spendabilty, saveability, and liquidity. The Chinese Yuan, the Russian Ruble, or any new fiat currency the sanctioned economies could issue in all three characteristics.
You are arguing about replacements and you are right. Other fiat currencies suffer from the same flaws as US dollar. But your arguments are confirming my claim that countries are not willingly using dollar!

Quote
Forced to use it or not, it's necessary to use it for international trade. Do you believe if Russia wasn't sanctioned, it would stop using the U.S. Dollar? Would Venezuela? I believe not.
Yes because the discussions about replacing US dollar didn't start after Russia was sanctions and Russia is not the only country that is seeking replacement. For example both SCO and BRICS are organizations created to oppose the US hegemony (specially economical hegemony). SCO was found in 2001 and BRICS in 2009.
Some of the countries in these organizations like Brazil are not under sanctions.

P.S. El Salvador wasn't under sanctions when they found a replacement for the dollar called bitcoin, they are under sanctions now though Wink


I'm with you that a New World Order is possible. Possible, or maybe probable. BUT it also doesn't change anything about the debate that the U.S. Dollar's fall could also be too overblown. Because, right now, there's no currency that's actually ready to replace the Dollar that's better in spendability, saveability, and liquidity. The demand for the U.S. dollar remains because every other State want it.

What would the financial incentive be to accept the Yuan over the U.S. Dollar? I believe ZERO.
1571  Economy / Trading Discussion / Re: Trading addiction, are you coping? on: February 07, 2023, 12:46:07 PM
I read a news yesterday about a Spanish rehab center that is called 'The Balance', a Switzerland-founded wellness center, located in Spain. The Rehab center helps in treating of alcohol, drugs and behavioral health addictions. Recently it is adding trading addiction to its list and I was surprised to see that. You can read more about it:

The rehabilitation center cited estimates that about 1% of cryptocurrency traders will develop an "extreme" addiction to crypto trading.
https://cointelegraph.com/news/spanish-rehab-center-adds-crypto-trading-addiction-to-services-list

I think it would be perfect to bring this trading discussion. Are you addicted to trading? I am thinking that making profit from trading or making losses, there is a chance that some traders are addicted to trading. What are you doing naturally to stay away from trading addiction?


Surprised? We can't truly be surprised. Mere Plebs like us trading, especially if trading shitcoins, is more related to gamblng than investing in my opinion. Drawing lines in a chart, doing all those "estimations", pretending that we know what we're doing, then HOPING that we take could some profit during the next hour, day, week, or month is not real trading, it's blind risk taking/gambling.
1572  Economy / Gambling discussion / Re: Casino games plebs like us must play on: February 07, 2023, 12:29:49 PM
~
It's probably also the same when you're trading cryptocurrencies. The thrill of taking a risk in a shitcoin will perhaps release more dopamines in your brain than buying Bitcoin, then sitting on your hands for the HODL. Hahaha.

It might also be why 90% of people trying to "trade" lose their capital because they can't stop themselves from looking for their next dopamine rush.

And probably also it's the same with any other risky activity that can potentially give you a big reward. Those are the tricks our mind plays with us. The thing is that our brain has not changed since tens of thousands of years ago, and this behaviour, always taking the risk to potentially get something big, was the right one for our survival for many thousand of years because there were no slot machines, no crypto trading, and we, humans, rarely had this opportunity to get a fortune of a lifetime within one day.


Casinos should probably hire scientists to study human behavior concerning risks and dopamine release. Cool

-cut-
It's probably also the same when you're trading cryptocurrencies. The thrill of taking a risk in a shitcoin will perhaps release more dopamines in your brain than buying Bitcoin, then sitting on your hands for the HODL. Hahaha.
It might also be why 90% of people trying to "trade" lose their capital because they can't stop themselves from looking for their next dopamine rush.
That's correct. But need for dopamine so hard coded into us that quitting smoking was easier then now chasing a new rush.
I think i've found a way to control mine now. It sounds silly but it's just sticking into basics and routine. When basics are in check i can treat myself with gambling.

And by basics i mean i manage my budget, exercise, work, eat healthy, sleep more and do work for my relationships. When those are in check i am less addicted to that rush.


It will probably just take one losing streak in one night of gambling to feel the need for the rush and the dopamine release again. Because there are more times when a person plays longer when he/she is losing than those times when he/she needs to stop for the day. Ironically we only stop for the day when we are winning small.
1573  Bitcoin / Bitcoin Discussion / Re: Any new development in bitcoin since it existence? on: February 07, 2023, 08:39:15 AM
There have been some changes that try to make the bitcoin network process transactions faster and also to harden it from threats.

Most of the changes that have been made are restricted to full nodes and wallets, neither of which are things that you have to worry about.

Some more efficient address formats have been introduced as well. The old ones of course still work.

there have also been some changes that soften it to threats aswell allowing new tx formats in without majority consensus of nodes ready to fully validate(as node readyness to fully validate WAS the old way of new format/feature activations which has now been softened to no longer require node majority readyness).


Social drama again? I'll bite.

What changes are those, franky1, and how "soft" has Bitcoin become against "threats". What threats are those? Plus didn't you big blockers say that there's no need for everyone else to run full nodes except the miners?

Quote

nodes now have the "neither of which are things you have to worry about"
because they have softened the role of nodes.. just so that devs and dev idolisers can blame miners.
yet the softness is the blame of devs.. as is any bug they introduce..  as it is all code changes. because devs write the code. not asics


Is that your new narrative? "Softened" the role of nodes so that the Core Developers and the community can blame miners? Do you know how laughable and stupid that sounds?
1574  Economy / Speculation / Re: Buy the DIP, and HODL! on: February 07, 2023, 05:31:45 AM
    It's actually very easy to say that, and many people have said it here, but no one knows when the dip to buy is, there is no specific date, day, or time when, that's the problem, it's hard to distinguish the so-called right time to buy.

Maybe the best thing to do is save as much bitcoin as you can before everyone catches on and regrets not saving.


In two years, will Bitcoin be higher than $50,000 in two years, or lower?

 Cool

I believe it's going to be higher. The right time to buy is the price lower than $50,000.


I believe the newbies and other mere plebs like me whogo into the topic should listen to the teachings of JuanJayGee. I may not agree with all of his teachings, but it's just because of personal differences/preferences. Ask JuanJayGee if the current levels are good to buy Bitcoin blindly, and profit by selling two years later. His answer will be YES, and I definitely agree.

For the best traders, they know how to have good timing in their entries to have 5x leverage, then have 5x the profit, but only the best 10% of traders in the market can do it. How can we plebs beat them in their own game if they are better capitalized that us, more skilled than us, and they have an army of their bots trading against you.


I don't really suggest selling


I know you always encourage HODLing. I was merely making a point that it's currently one of those "golden opportunities" that plebs like us can start blindly buying Bitcoin, then DCA if it goes lower/crashes, and be confident that in two years, you know you will have profit if you want to sell. Golden opportunties like these are infrequent, and everyone should take it if there's extra savings available.
1575  Bitcoin / Bitcoin Discussion / Re: Bitcoin History, Philosophy, And Prehistory on: February 07, 2023, 05:16:05 AM
bitcoin was made by someone(post latest millennium) who patched lots of idea's together(from prior-to-millennium idea's) along with his own(post-millennium) idea's

but this does not mean "bitcoin" was a 60 year project


No one is claiming that, franky. But if technologies like Adam Back's HashCash, Hellman-Merkle-Diffie's Public Key Cryptography, Wei Dai's B-Money, and Nick Szabo's BitGold were not invented, we can confidently say that Satoshi's Bitcoin would also not be invented, OR it probably will be invented decades later if we're lucky.

Newbies, plebs, EVERYONE should read the course.

HashCash, https://learn.saylor.org/mod/book/view.php?id=30735&chapterid=6706

B-Money, https://learn.saylor.org/mod/book/view.php?id=30735&chapterid=6705

BitGold, https://learn.saylor.org/mod/book/view.php?id=30735&chapterid=6704
1576  Bitcoin / Bitcoin Discussion / Bitcoin History, Philosophy, And Prehistory on: February 06, 2023, 11:53:53 AM
The site is probably maintained thanks to Chad Saylor, https://learn.saylor.org/mod/page/view.php?id=30734&forceview=1

Plus I believe that informational material about Bitcoin's history and prehistory should be pinned by the Admins everywhere in the forum for everyone to be encouraged to read the facts, be educated/understand/get the context, and be more learned about what Bitcoin is truly about.

Those early Linux users who were supportive of the Open Source movement/GPL would probably be the people who could associate themselves with early Bitcoin users.
1577  Economy / Gambling / Re: Blackjack.fun |20% RAKEBACK TO ALL|SLOTS|InstantWithraw| v3.0 Launched! on: February 06, 2023, 11:38:17 AM
Big surprise might probably be something that includes the Daily/Weekly wagering competitions. Increased prizes, for both players and voters, perhaps? Or new side-games/competitions to win extra free spins or bonuses? Cool

It's obviously just a no-knowledge-guess. But truthfully, I cannot wait for that BIG SURPRISE! Another guess is it might be a new array of casino games?
1578  Economy / Speculation / Re: How is everyone doing? on: February 06, 2023, 07:28:17 AM
Well, now things get interesting!

We finally come back to what should have been the top at around 16500!

As we all know the past 2 years was Tether's very own version of Willy Bot, but on steroids. It was always going to com out in the wash and now the DoJ/SEC on the case it looks like its gonna be [urhttps://www.youtube.com/watch?v=45elFFLgnEY]scrubbing day[/url] pretty soon...



So, will ~16 hold and become the new base for another speculative run up?

I for one welcome regulation in the space. Yeah I know GUBBERNMENT BAD... but don't forget, the regulators are going after the scammy exchanges and ponzi schemes that are screwing retail investors - they don't care about you and your sovereign Bitcoin, you are not a criminal... right?

Keep your corn off exchanges, use them to transact, respect bast practice for privacy and you get all the benefits of Bitcoin with assurances that nefarious actors can't screw you.

How are YOU doing, sgbett. We really missed you. Cool

Did you notice that when you made this topic, Bitcoin was possibly near the absolute bottom of the current bearish cycle? You and Kwukduck from 2018 or 2019 have near perfect timing to be counter trading indicators.

Plus how is everyone in Flat-Earther Land syncing their BSV "blockchain"? I heard that many nodes are having some problems downloading/validating a large group of 4GB blocks mined during October, 2022. But users don't need to run a full node, right?
1579  Economy / Economics / Re: "Prepare for defation in 2023" on: February 06, 2023, 07:17:03 AM
I think surge regarding the price of bitcoin is something that is not "just" based on world economy. I mean sure it is impacted, there is no denying that and when the economy is terrible the price goes up because if fiat is terrible then it should be good for bitcoin.

But at the same time, we should not put the price of bitcoin depending just on that, there are many other things that it gets affected by, and it could be one of those that makes it. Like some great news of some big nation making it legal tender could make the price go up suddenly, even when economy hasn't changed, as you can see the world economy is the same, but that good news could make it higher. That type of things matter.


You didn't get the whole point, or didn't get the context. We're not talking about the "World Economy", we are talking about the Central Banks all around the world, and their financial policies. Because it's a fact that for Central Banks to control inflation, they have to reduce the money in circulation and tighten liquidity. Its effect will be lower demand, causing a deflationary cycle, which I said MIGHT happen this year. BUT Jerome Powell looks that he's going to chamge his mind from what he previously said in Jackson Hall. I thought he was going to be "a Volker". I might be wrong. He might pivot earlier than expected, and there might not be a deflationary cycle.
1580  Economy / Speculation / Re: Buy the DIP, and HODL! on: February 06, 2023, 05:48:15 AM
I believe the newbies and other mere plebs like me whogo into the topic should listen to the teachings of JuanJayGee. I may not agree with all of his teachings, but it's just because of personal differences/preferences. Ask JuanJayGee if the current levels are good to buy Bitcoin blindly, and profit by selling two years later. His answer will be YES, and I definitely agree.

For the best traders, they know how to have good timing in their entries to have 5x leverage, then have 5x the profit, but only the best 10% of traders in the market can do it. How can we plebs beat them in their own game if they are better capitalized that us, more skilled than us, and they have an army of their bots trading against you.
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