JP Morgan Chase fights 45 billion hack attempts a day.
But does that truly matter? It will probably be an inconvenience, but because their ledgers have only one validator, or a federation of validators which actually works for one entity, they will merely roll back the ledger, patch their software, and it would like the hack didn't exist. Plus they also control all of the financial rails and they could simply freeze any amount of money, then send them back to their vaults. |
|
|
|
For the first time in history, GBTC began systematically selling bitcoin.
What’s more, it wasn’t the choice of any Grayscale trader to sell; selling was a requirement. As an ETF fund manager, Grayscale must ensure that GBTC’s share price tracks the price of bitcoin.
 If that's true then it's not just the macro-economic conditions in legacy that would force a pre-halving Bitcoin crash. Barry Silbert will also be a part of that. Bitcoin is already down about 10% from the top, and it's been merely one week. To my fellow plebs, if you have extra savings and/or disposable income, you obviously know what you should do if another golden opportunity arrives. |
|
|
|
It doesn't truly matter if you bought the DIP and the DIP goes lower. What matters is bidding Bitcoin at $41,000 is better than bidding it at $45,000. You get a discount, you are a little more efficient with your capital, and you'll probably HODL more units of Bitcoin through looking for discounts. HODLing more units = Definitely MORE value in your wallet when the asset surges. Buy the DIP, and HODL because there's an increasing number of HODLers who have HODLed Bitcoin for more than one year. They are front-running you and it's in an all time high. https://www.lookintobitcoin.com/charts/1-year-hodl-wave/ |
|
|
|
Some people just enjoy making loud statements because it gives them publicity, and some think there's no such thing as bad publicity. Also, some people are against Bitcoin because they've made their wealth in traditional markets and consider Bitcoin a threat to those markets, something unnecessary and destabilizing. I don't know what kind of person he is, but I believe it's embarrassing to be so wrong about Bitcoin when you're supposed to be good at Economics and at understanding investments. It's either his emotions or a strategic choice to capitalize on publicity that prevent him from being objective about Bitcoin.
It's absolutely OK to be looking for publicity, but he should definitely be careful in what he says. I can't find the video right now, but in that video, Jamie Dimon said that he believes SATASHI, yes he actually said SATASHI, will come back and either "increase" the Bitcoin supply or "erase" it. ¯\_(ツ)_/¯ He's very misinformed about Bitcoin and it's so laughable that he goes on T.V. talking like he has practical knowledge on the system. The smartest and the most technical people in Bitcoin couldn't sometimes agree what Bitcoin is or have the same viewpoint, but Jamie Dimon talks like he knows everything about it. |
|
|
|
|
Another DIP buying opportunity might be coming! I'm not sure how low, or if this correction continues to fall under $40,000, but buying some Bitcoin with any sort of discount should definitely be "greeted" with open arms. Don't miss the opportunity!
Buy the DIP, and HODL!
|
|
|
|
Assume you're being sarcastic,
He obviously is. Hahaha. OP is known for supporting BCash SV, a fork of a forked shitcoin, as the one and "real Bitcoin", and that Craig Wright is the one and true "Satoshi". Plus he also made this topic mocking Bitcoiners, https://bitcointalk.org/index.php?topic=5420388.0The date of creation was the absolute bottom.  Is Bitcoin at the absolute bottom of the current level? Be bullish OP, I want a DIP! |
|
|
|
So you're saying the data is not real-time? When an input registers, a query with that input's address is sent to an analysis company in real time. The analysis company replies with a risk category associated with that address (e.g. credit card fraud), if there one was reported for that address? I'm merely curious how many of the total inputs are rejected by the coordinator annually. Would you be allowed to give the public that information? Or you can just give everyone reading through the topic an estimated percentage. they should have some kind of notification to update their database, no? If not trigger it automatically? If an address is blocked for suspicious activity, the ban lasts for 30 days. If there was an update to the database that cleared that address of a false positive flag, they would be able to coinjoin it then. I like that, and that would be fair for the users. I believe zkSNACKS should start a forum to give users a place where they could refute false positives. That would probably be a good source of data for both Wasabi and the blockchain analytics company to improve your/their services. |
|
|
|
2. Currently there's no detail how "sequencer" (party who create block) is chosen[2].
It will probably be centralized/federated at first, then decentralize ln due course. The documentation already state SatoshiVM currnetly is the only one who create block. I was referring about how decentralized one works. My hypothesis, it will be Proof Of Stake. Because these " decentralized networks" outside of Bitcoin generally issue "tokens", I believe SatoshiVM will issue one of its own, then have those sequencers "stake" their "tokens", and their users delegate their own "tokens". I will not open a debate on why Proof Of Stake is flawed. That deserves its own topic. 3. While we can "move" BTC to SatoshiVM by ourselves[3], i didn't find how to "move" BTC from SatoshiVM to mainnet which is a bit concerning.
It will probably through an off-chain Bitcoin to on-chain Bitcoin market of some sort? ¯\_(ツ)_/¯ Using exchange/market works, but it should be done by interesting with SatoshiVM directly. We're merely looking at the test-net. I believe there will be a two-way bridge for official release. |
|
|
|
I think PlanB was a great follow for a long time but be was convinced & dead set on over $100,000 in the last bull market. He has made loads of excuses why his model(s) is still valid but I don’t think he is a credible source to reliably follow for the upcoming bull market. I mean his S2F chart is absolutely broken, we have been under his base case for ages.
It's a broken model created from a flawed assumption. There will be people who would debate against it, but - An asset's price doesn't automatically increase simply because its supply is limited, and that its emission halves every four years. It increases in value because of demand, real demand and/or demand as a consequence of trading, investment-seeking/prospecting. |
|
|
|
What would happen? If in the future ETF holders become the 99% and 1% are self-custodians,
In a scenario where almost nobody owns bitcoin and things have gotten this centralized, we can say with confidence Bitcoin is already dead so who cares what happens!
then it will be on their interest to push this agenda. What if they have enough % of developers under their payroll, and enough people supporting it because they lost their money, and start pushing for a hard fork? What would be the game theory outcome scenarios at play here?
They'll need to get high percentage of the hashrate on their payroll and a high percentage of the community that includes full nodes, bitcoin users and the economy built on top of bitcoin. Immutability is one of the fundamental principles of Bitcoin, people aren't gonna give it up that easily. What's the threshold for Bitcoin to start becoming "that scenario"? How much of the total circulating supply must be in the vaults of a cabal of banksters/asset managers before we could say that Bitcoin is failing? I have asked the same question before and made a topic about it, but it never had a direct answer, with most of the replies were dodging the issue. |
|
|
|
It looks great, but don't expect Ordinals to go there because nobody is interested in actually developing it, only printing money off of it.
And for a second layer to be successful, it needs an ecosystem around it, which is only possible by quickly gaining adoption.
I'm sad that RGB & Taro don't see as much popularity as the Ordinals or other projects. I found the RGB protocol very promising when I discovered it a bunch of years ago. Lightning is well suited for this type of stuff and it already exists. I'm all for innovation, but I'm also all for not reinventing the wheel and for using time & resources (this includes the Bitcoin blockchain) in a responsible way. I didn't care at all before for off-chain layers built on top of the Bitcoin blockchain except for the Lightning Network. But experiencing how annoying Ordinals NFT and BRC-20 have been, I believe there's this expectation from their users that paying for high fees is "normal" to participate. BUT there's such a thing as capital and technical efficiency, and RGB, Taro, SatoshiVM, or another off-chain solution will definitely start gaining some attention from developers/users who are actually trying to find a cheaper solution for token minting/trading. NFTs and "digital artifacts" users might prefer the security of the Bitcoin blockchain though, and would not care for the high fees. |
|
|
|
Why not host a freeroll poker tournament for levels Wood to Platinum? Top 5 players get to win 5 seats for the Jade VIP tournament and be given an opportunity to play with the high-rollers. I believe that would not only be good from a marketing perspective, but it will encourage building a community as well.
Good idea, it will be great if they will do your suggestion, at least it may make all VIP players able to join the poker tournament without waiting to be Jade first. If they cant do it for free, maybe they can make it with cheap buy in like few dollars in order to join the poker tournament to win the free tickets for the VIP tournament. Hope they will consider it, or maybe they can do it with other tournament on the site such as who have hit specific multiplier in any game on the site will get free tickets for the Jade+ tournament. Or they could do multiple freerolls for Wood, Bronze, and Silver in one tournament that gives one seat in the VIP tournament. Then have another freeroll for Gold and Platinum that gives the top three finishers of that tournament three seats in the VIP tournament. They could also make a schedule. One monthly VIP tournament, with two or three freerolls per week to give opportunities for lower-ranked users to enter the VIP tournament. |
|
|
|
Common trick by exchanges, start out with lower fees, best the market, capture a part of the pie, and then gradually keep milking your loyal traders more and more.
It's also probably to encourage users in general to be more active during periods of low volatlity. That could be an indicator that the admins of Bybit are expecting a boring market? Haha.
Funny thing is in bybit especially, if you are a large volun maker, you even get PAID to make trades. Bybit will have people having an incentive to market make instead of having to hire someone... And the small volume traders are the ones funding this. It's outrageous if you think about it, but that's not to say that traditional markets are fairer... St least bybit is transparent about how they charge fees.
In trading perpetual futures contracts markets, I believe long position takers get paid in funding fees by the short position takers if the spot price of the asset is higher than the price of the futures contract of that asset. If the spot price is lower than the perpetual contract's price, it's the long position takers that pay the short position takers. |
|
|
|
I believe it's a chicken and egg situation because the reason why usage of the Lightning network is low is because there aren't that many services and merchants have adopted the off-chain payment network. But if suddenly all casinos started accepting Lightning deposits and allow withdrawals through Lightning then I'm quite confident that Bitcoin users would start believing that it's a feasible payment method, and there's no need to convert their Bitcoins to altcoins too.
The advantage of using the Lightning Network is not just for cheaper and faster transactions. It's a good layer that adds privacy for your transactions too.
Besides business owners should not only think on the now but on what will come next, so if a casino decided to accept deposits and withdrawals with the LN and this became known then all of those that want to use it and want to gamble will have no other option but to use that casino, and by the time other casinos realized what is going on, it will take them some time to react and adopt it too, but once this happened any casino that did this will have a first-mover advantage over the rest, gaining a significant edge which will not be easy to overcome. Plus there's probably enough idle liquidity that have boot-strapped Lightning that doesn't know where to go because there's not that many merchants/services that accept it. If other users could suggest an altcoin, why not Lightning? Hosting a $10,000 poker night Players with a VIP Host are eligible to play, 20k in poker night prizes already paid out VIP program is growing fast, so expect the prizes to keep going up  https://i.imgur.com/QwJltHp.jpgWhat a nice offer to VIP players with a VIP host, how many players were there at the 20k poker night? To be VIP player with a host required to be at Jade level, 1.2M wager requirement to ba a jade. I'm far away to that level but it is not impossible to be there because I've wagered more than 5M in other casino. Maybe it will take several months for me to reach Jade, hope to be there soon especially the poker night. The Christmas Poker Night had around 70 players. Poker nights are becoming more popular, I think we'll break 100 active players next game. Looking forward to hosting you when you hit Jade! Good luck! Why not host a freeroll poker tournament for levels Wood to Platinum? Top 5 players get to win 5 seats for the Jade VIP tournament and be given an opportunity to play with the high-rollers. I believe that would not only be good from a marketing perspective, but it will encourage building a community as well. |
|
|
|
Bitcoin protocol does not support Token creation. What they did through Ordinals exploit was to inject arbitrary data into the Bitcoin blockchain.
Whatever you call it, it doesn't change the fact that the BRC-20 method of minting tokens is inefficient, expensive and it's very annoying for users who want to use the network for financial transactions. Yes, but the bold part needs to be clarified and repeated as many times possible because I see repetition of a similar problem we had in 2017 where people kept spreading misinformation (SegWit "removes" signatures) and years later we are still seeing some who think it is true. Here BTC-20 is not a method of "minting tokens" it is just a method of spamming the blockchain with arbitrary data. I'm not disproving your point, nor am I disallowing you from having an opinion. But you have already expressed the same thing many times in different topics. I'm sorry, but it's becoming like a broken record.
"Lacks popularity", but those users did congest the network, forcing everyone to pay for higher fees if they wanted to make a transaction on-chain.
"Lacks utility", but those users' idea of "utility" or usage IS the making money part of the system.
But we digress, let's talk about technical features of SatoshiVM, the pros/cons, and why/why won't it work.
Yeah, we should stick to technical discussion but the other stuff is just as important. For example your two first statements here is proving what I said! These spammers see "utility" as making money. To make money they need something that can get hyped up so that people (specially newbies and gamblers) would buy. Making these on some unknown platform whose name is not heard by anyone is not going to give them any hype to pump it. But when they include their junk spam inside bitcoin blockchain, it can get hyped up. Besides not only Bitcoin side-chains exist but also there are a lot of other token creation platforms that are semi-mature and they are unused because of exactly what I explained (uselessness). To make matters worse, as long as the exploit in Bitcoin protocol is not patched and these spammers can continue abusing it, they will not even bother looking at alternative solutions... That's probably why it's an opportunity for some developers to build a more efficient solution that will be a win-win both for users who want BRC-20/NFTs, AND users who want cheap on-chain transactions. Paying for high fees is simply not sustainable for ALL users because Bitcoins are scarce.
But we digress, let's talk about technical features of SatoshiVM, the pros/cons, and why/why won't it work.
The technical details is limited, so i can't talk about it with certainty. So i'll just point few things, 1. Average block time for testnet 3s[1], it'll create some stale/orphan block. It worry me, even when they state they currently consider block time between 3s to 60s[2]. 2. Currently there's no detail how "sequencer" (party who create block) is chosen[2]. It will probably be centralized/federated at first, then decentralize ln due course. It will probably through an off-chain Bitcoin to on-chain Bitcoin market of some sort? ¯\_(ツ)_/¯ |
|
|
|
Plus people in the topic who are convinced that there will be "NO MORE MAJOR DIPS" should stop thinking binarily and start thinking in probabilities. Because with the macro-economics looking bad in major economies like China and the United States, it could start a systemic event that might take the economies in different regions around the world with them.
The unemployment data in the United States will be a leading indicator in knowing if there will be a sudden crash, and if Jerome Powell starts to pivot - For the wrong reasons. The "soft-landing" might not happen. It will be "higher for longer" until something will break.
Instead of the stress of how to think and how not to think, why can't someone just engage in the buying already since that is what we are here to do? Why bother ourselves with if price will dip or not when we could have just start the buying and allow the market decide? I have come to realize that there is no perfect price for entry and the moment one have the mindset of waiting for the dip (aka perfect entry), then doubt and confusion will creep in and the end will most likely not be pleasant. I have followed your conversation in this thread lately and you seem to have settled for waiting for dips to buy. I understand the advantages but I don't consider it efficient because of the uncertainties that follows it and the chances of poor judgement and emotional torture that it is prone to. So to compensate for the concerns I already stated, one can be waiting for the dip with some portion of the budgeted funds while applying the DCA with part of it. In this case, if the supposed dips happens fine and if it doesn't, then the DCA will suffice, just that the amount invested in this case will be lower than it would have been if one used the entire funds for the DCA. In addition, isn't it too stressful focusing on economical and fundamental data in making your Bitcoin investment decision when you know that those data are not 100% reliable? I have seen several situations where supposed positive news was followed with massive dump... they will always conjure jargon to justify it. This approve to be has all the attributes of short term investors or traders, hence, my preference of the DCA method. If you want to DCA and not look for discounts or a Bitcoin fire-sale, then good luck to you. But because I'm a mere pleb with limited capital, I need to be more efficient and careful with my money, plus accept that there are some price levels that I should avoid because they are simply not a good deal. It's probably the same as when you're shopping for nice clothes. Some of them will simply be too expensive, but if you wait and be patient, you'll be given an opportunity to by them on sale. |
|
|
|
[edited out]
Plus people in the topic who are convinced that there will be "NO MORE MAJOR DIPS" should stop thinking binarily and start thinking in probabilities. Because with the macro-economics looking bad in major economies like China and the United States, it could start a systemic event that might take the economies in different regions around the world with them. The unemployment data in the United States will be a leading indicator in knowing if there will be a sudden crash, and if Jerome Powell starts to pivot - For the wrong reasons. The "soft-landing" might not happen. It will be "higher for longer" until something will break. It sounds like you keep praying for a dip that might not happen. Haha of course, with my strategy I'm always praying for a DIP! But don't make it sound that the hypothesis about a possible recession caused my a macro-economic failure is not supported by factual basis. It isn't based on "prayers", ser. Simply data. At least you admit that you are doing a lot of praying, and perhaps too much praying and not enough buying of BTC. For the limited capital I have, I have enough. Don't worry about me, ser. Additional purchases will be small and only if there's a good discount, which I believe will be coming.
The Federal Reserve has two mandates,
- Maximum employment
- Price stability
Jerome Powell must accept that to serve one, he must disable the other. In most of history inflation was never truly curbed until unemployment rate surges, causing a recession.
I know that you have been ongoingly and persistently distracted by such Macro nonsense... and since when should we have gotten distracted into giving very many shits about what the Fed is doing? Sure liquidity is a factor, but we still have bitcoin the three main factors that have ongoingly influenced BTC prices which is 1) stock to flow, 2) 4-year fractal and 3) exponential s-curve adoption based on Metcalfe principles and networking effects ( as outlined by Trace Mayer). OK, I respect the opinion, but let's wait for the "Macro Nonsense" if something does break. I'm not going to say "I told you so", but what I'm going to say is just save some of that DCA money and allocate it to Buy the DIP.
Hopefully you are adequately prepared for UP, and you are not regretting too much that you had ended up holding way too much cash in August, September and October waiting for dips that did not end up happening then, either... but hey, whatever, you do you.
My biggest purchases was during the year when I made this topic. Most of my savings until that time went into Bitcoin. O.k. I will create an example 8 from this information... --Snip-- You hoped that I'm adequately prepared for "UP", I merely replied to you that yes, I'm very confident that I'm ready. Your 8-point example will be wasted on someone who is in the left side of the I.Q. Bell Curve like me. |
|
|
|
"In 2015, when I bought my first btc at $400, people said bitcoin was dead.
In 2019, when btc was $4000, I wrote the S2F article, calling for $55k btc. People said I was crazy.
Today, btc is $40k, and S2F model predicts $532k after 2024 halving. People say it is impossible."
He forgot to say that he failed miserably in his predictions in this cycle, revising them downward as time went on, and yet he was still failing: Plan B Says Bitcoin Price Still 'on Track Towards $100K' Despite Missing November's Price Prediction (November 2021)This month, the price of bitcoin sank below the $60K zone this month after reaching an all-time high (ATH) at $69K per unit. The pseudonymous bitcoin analyst and the creator of the bitcoin price model called stock-to-flow (S2F), Plan B, called the last three months of bitcoin prices correctly but the analyst’s “worst-case scenario” forecast missed the mark in November. Despite the recent bitcoin price drop, Plan B still seems confident bitcoin’s price is “on track towards $100K.” He has invested so much time and effort in his model, and has gained so much fame with it that instead of doing what a scientist would do, which would be to falsify the theory, what he does is to keep reformulating it even though it does not agree with the facts. The flaw in PlanB's theory is his presumption that merely because Bitcoin has a halving every four years, then the price must increase by some percentage without considering the market demand for Bitcoin. There are many altcoins that have their own halvings but they never follow PlanB's graph according to his hypthosesis. If he was right, then all coins with inflation halvings every four years should follow the same trajectory like Bitcoin. |
|
|
|
the inefficient method of bringing NFTs and Tokens in Bitcoin through Ordinals
They never did that. Bitcoin protocol does not support Token creation. What they did through Ordinals exploit was to inject arbitrary data into the Bitcoin blockchain. Whatever you call it, it doesn't change the fact that the BRC-20 method of minting tokens is inefficient, expensive and it's very annoying for users who want to use the network for financial transactions. Do we need another sidechain? Liquid and Rootstock already exist, while Drivechain still in development. In addition, many things available on SatoshiVM already offered by one of those. For now there's little technical detail, so i only say the author should explain why Bitcoiner should use SatoshiVM rather than other sidechain.
Basically this ^ We already had a couple of projects that were more mature than this one, But no one truly adopted them, and because Bitcoin is permissionless, any developer could build on top of it and try to debate for a better, more efficient solution.
and they all lack popularity simply because token creation lacks popularity and utility! This is why they performed the Ordinals Attack like this instead of taking it to an actual "token platform" like Rootstock for example. They needed the hype to make money and of course to attack bitcoin...
"Lacks popularity", but those users did congest the network, forcing everyone to pay for higher fees if they wanted to make a transaction on-chain. "Lacks utility", but those users' idea of "utility" or usage IS the making money part of the system. But we digress, let's talk about technical features of SatoshiVM, the pros/cons, and why/why won't it work. |
|
|
|
What China should probably start doing is incentivize young couples who have more than two children with tax-cuts and other forms of government subsidies.
Eh ..franky1, you know when numbers are involved he usually quotes the wrong ones and then he throws a fit when pointing that out. I got used to! But you solution won't work either, because...well it was tested and failed! It's pretty much the same thing as in the west, the cost for raising wo children are high and China has a another problem, it is treated in the west as a joke and most of it is meme material when you have kids in the 2nd grade being prepared for 6 paths in their career life but it's a highly realistic thing there and unlike 1980 and 2000 when this was still achievable with minimum education right now the costs in a far more competitive close to dystopian system are nuts. I've read a page on this , I till try to find it again when I had time that compared the madness of getting you kid in a certain school/high school/collage to the animalistic behaviour of the strangest of the cubs, but it that case it was about the one getting the most food in here is about the parents knowing they won't ever have food for two or three so choosing to have just one! As the wages increase and things get more expensive the cost of raising a child in the major cities outclasses the one in the western world, there are clinics that charge you $15k for a birth and $40k per month for the postpartum period, there are repot of people paying $20 000 to have their address temporary moved to another district so their kid can enlist in some different school, one can't even grasps the madness that's actually happening there. Remember we're talking about a country that's still heavily enforcing the hukou system. You're right, plus because a falling birth rate, which also leads to an aging population AND which actually puts more tension and demand on the younger age demographic to support the older generation through more taxing/pension schemes, WHICH would also mean that they should work harder/longer hours WOULD cause birth rates and fertility rates to fall further. China has shot themselves in the foot, and an economic recession now would definitely place them on a harder path to recovery. They should probably turn on their money-printer and risk inflation. |
|
|
|
|
Show Posts
