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1681  Bitcoin / Bitcoin Discussion / Re: Do you own 1 Bitcoin? (2022 edition) on: May 19, 2022, 11:38:46 PM
I would hazard a guess that it is mostly
unachievable for the majority at this stage.
Is it though? I mean, at current value that's what you'd expect to earn from a yearly salary right? Obviously, not on minimum wage, but I believe the average wage is just below that. I don't know exactly in the US, and what the US dollar equivalent is, but I do believe the UK is around 24k, which would be around about the price it's at now.

So theoretically, those that can offer their services for Bitcoin, just as they do with fiat could earn similar amounts. I don't think it's unachievable at the moment. If we see the price increase to upwards of $100k, that's when a lot of people will be priced out, well of owning one BItcoin anyway. Not that it's important, just interested why you'd think something which could be achieved in a year by many, would be unachievable. Even earning half of that, it would take two years. Obviously, the fluctuating costs of Bitcoin might go against you, but I imagine we'll be at a rather low point for a while.
1682  Economy / Speculation / Re: Trying to identify the bottom.. on: May 19, 2022, 11:28:02 PM
For me, it is still difficult to identify the bottom now, not sure what the price is. If BTC halving will still be the trigger for the next bullish, we still have around 2 years for this bearish. Because on May 12, BTC has dropped below $27k, I think the bottom is probably below $19k. I don't have a specific approach to predict this, but only considering we have still a lot of time for the bearish period. IMO
What I will say, if we did dip beyond $19k, I imagine we'd take quite a bit time to recover. I can just imagine the pressure from the recession, but also a lot of people in their minds would be losing money, and mass panic would set in. I don't know what sort of time frame where we would bounce back, since I don't exactly know where we'll be in a few months time or a year from now. However, we definitely ain't rebounding from that within a few months. I know history might suggest otherwise, but I really do believe these are unprecedented times or at least what we have ahead of us, will be rather difficult for a lot of people.

I'm not much of a price watcher usually, but with the recession coming up, I'm quite interested on how Bitcoin, and its users will react. After all, Bitcoin was created due to a recession, and the fact that the banks messed up completely. Wondering if it spurs on adoption after it or will it make people lose faith for a while.
1683  Other / Beginners & Help / Re: better algorithm to mine Bitcoin, was there any? on: May 19, 2022, 06:45:37 PM
Technically there are other ways, they just aren't secure enough. Proof of Work is arguably the best option.

I wonder if there were any attempts to come up with better algorithm that will allow you to mine BTC faster than others?
Why would we want to mine it quicker? Bitcoin already has difficulty, which adjusts based on the hashrate of the entire network. The only concern I see with Proof of Work is the energy used. Although, I don't think it carries much weight. I mean, Proof of Work is what makes Bitcoin work, and what sets it apart from other implementations, which basically just aren't as secure. It's one of the big contributors to its success.
1684  Other / Beginners & Help / Re: Phones on mobile wallet becoming riskier on: May 19, 2022, 06:23:18 PM
Custom ROM's just have more privacy, and security features than the default usually. Not always, some default Android's (Manufacturer's alterations) are pretty good. I guess the question then is if you trust your manufacturer. To a certain extent, if you're using their hardware already, you do.

While this is an option, you don't even need to install a custom ROM to have those app hiding features. Nova Launcher, the best customization launcher back then has this hide app feature whereas you can only see the hidden apps when searched; and I'm pretty sure numerous other launchers also has this feature. Not the very best solution, but at least your bitcoin wallet isn't in the spotlight.
That's right. Custom ROM's usually utilize preexisting launchers that you can get without actually running custom ROMS. Although, I'd recommend a open source one if possible. I'm not too familar with Nova launcher that you've recommended, so can't comment either way.

Whilst on that topic. Open source custom ROM also. Although, as far as I'm aware most of them are, since they build from phh's treble. Except for a few.

Also, always use your mobile wallet as a hot wallet. Probably only with a maximum of $200 worth of crypto or so. It's sucks to lose $200, but at least its only a minority of your stack.
While I do somewhat agree, I'd probably recommend users only store as much as they can afford. That's going to be different from person to person.
1685  Economy / Speculation / Re: Trying to identify the bottom.. on: May 19, 2022, 06:15:00 PM
I'll go in a bit more detail with my reply to LFC_Bitcoin, however I think technical analysis can basically go out of the window. We're heading for a massive recession, that most people alive have never experienced, and it might just be worse than the great depression after world war, it's hard to know the impact of recent events at the moment.

So, while I do appreciate the effort, and reasoning I just think that while this sort of analysis might have benefited us in the past, and been somewhat accurate, I don't think it'll have the same correlation as usual. Something, maybe you haven't quite factored in?

What do you think?

I agree with you about the potential bottom being between 19k & 23k.
Depends what you mean by the bottom, are we talking about the current cycle, calendar year, tax year or forever? If it's the latter I'd probably have similar confidence, however if it's any of the other three, I wouldn't be so sure. The world has gone through unprecedented times, we likely have a massive recession on our hands, only comparable to the 1900's, and yeah I'm specifically saying it'll be worse than the 2008/2009. Going through a pandemic isn't only going to have an effect on Bitcoin, but every single currency out there. Buying power will be down shortly, no one will be buying Bitcoin, because they'll be too busy buying the essentials, as inflation kicks our arses.

So, while I'm definitely confident in the long term, I'm not entirely confident we haven't hit the bottom of this year. Ultimately, that allows us with the will, and funds to invest further in Bitcoin at a discounted price. However, I suspect demand will be impacted, due to the above reasons. Bitcoin performed okay after the last recessions (that's if you truly believe we've recovered from that...) however this up, and coming recessions is going to really hard press a lot of people, and I believe it'll be one of the worst positions we've been in for a long time. The war with Russia, and Ukraine impacting fuel, and soon food costs will be bad enough on its own, but throw in a pandemic just before that, which the government has only just started raising things like taxes etc to recoup the amount they lost, I think we'll be struggling for a while.
1686  Economy / Gambling discussion / Re: Sportsbet.io's English Premier League Football Pool Discussion Thread on: May 19, 2022, 05:46:29 PM
I'm going with the prediction City 2 - 2 Aston Villa. I genuinely have the belief that Aston Villa can do it. Coutinho will have a good game, and Ings will be fired up. Gerrard will also have a little more to his team talks. I mean, wouldn't it just be poetic if Gerrard wins us that title? Since, arguably he probably does feel responsible for losing us our title with that game against Chelsea. Plus, it would be the closest he has come to winning the league with for us. I don't know, I just have a good feeling about it.

Oh, and I need to mention they gave us our worst defeat in my entire memory of watching Liverpool, maybe they can return the favour for City. Watkins had a hattrick on the day. You know I dream all kinds of dreams about this match, even though I'll be watching us try and take Wolves apart... GD is +6... and they have more goals scored so if, somehow, Villa win and we only draw, them winning by 7 goals is the only way we win the title.
It's that Stoke game for me, I don't think I need to clarify any more than that. Despite Aston Villa giving us a thumping recently, that Stoke game was definitely worse in my memory. Although, every team has a bad game, and it's nothing out of the ordinary. City sometimes have those games, although not very often in recent seasons. I mean, you could argue that we've smashed them to pieces at times even when we wasn't as strong as a team as we're now.
1687  Economy / Gambling discussion / Re: 🥊 The UFC Info and Prediction Thread on: May 19, 2022, 05:43:58 PM
I thought fighters get weighed twice on weighing day? Didn't one of the fighters recently confirm that by saying they weigh backstage, even in front of the commission, and then come out, and weigh on the proper scales that we all get to watch. There might be a slight calibration error with those not being the exact same, but to be honest I'm not sure if I buy the whole thing. Could it just be he missed weight, and that's it? I know Justin claimed that the weighing scales was what he was expecting, and didn't differ, but I suppose you have to take that with a pinch of salt, since he's going to be trying to get in the head of Olivera at that point.

I'm not sure what to think about the whole situation, although I think it goes without saying that Joe Rogan has a ton of different theories on all sorts of things, and isn't afraid to voice his opinions, and take sides in conspiracy theories. While I do like him, he's not always credible.
1688  Other / Beginners & Help / Re: WHY BITCOIN USERS EMBRACE THE THEORETICAL ASPECT TO TECHNICALITY IN [btc] on: May 18, 2022, 08:55:11 PM
For me, the complexity of Bitcoin is the one obstacle to achieving mass adoption. Something which I don't know if we'll ever be able to completely overcome due to the nature of Bitcoin.

Bank is also quite technical. There are so many parts such as detecting fraud, preventing race condition and initiating secure connection. But most bank customer don't know that.
Right. I agree, banks actually do serve somewhat of a purpose. I do believe they could be implemented better, and shouldn't be offering interest rates or gambling your money away. Although, I will openly admit that managing a large amount of money comes with massive amounts of responsibility. Banks have the manpower, experts, and money to be able to invest into that, and therefore provide a simple way of managing your money. When you are your bank, that changes.

Ultimately, as much as I don't like third parties managing my money, and I would prefer to do it myself. Quite simply, that is never going to be for everyone. Some people like the safety net that banks provide.

To use our money we don't need to know how it is printed, on what kind of paper and ink has been used while printing, who signed on the money, blah blah but at the end of the day we are going to use it to buy something that is what most cryptocurrency users are also doing, there is no mandatory for them to learn technical to use it in our day to day life so just learning what is needed is enough for a common user.
That's somewhat true. However, and I do believe this is one of the issues we must overcome. Bitcoin in its current state is too complex for these types of people who don't want to learn about it. The fact is; with Bitcoin you're usually in control of your keys, therefore you're responsible for them. To be able to do that you not only need to know how Bitcoin works, but you should have a decent grasp of security practices. Otherwise, you could be unknowingly be putting yourself at risk.

This is exactly why Bitcoin currently isn't for everyone, and that's okay. I don't know if we are ever going to get to the stage where it'll be simple enough. However, we've come along way with documentation, software, and hardware wallets propelled us further even further into achieving it.
1689  Bitcoin / Bitcoin Discussion / Re: Do you own 1 Bitcoin? (2022 edition) on: May 18, 2022, 08:48:59 PM
The thing about conducting a survey, and looking at that data is it rarely is carried out correctly. It needs to be a fair test, which a lot ignore. For example, a survey being conducted for a number of years or even months on a volatile currency means you're going to get distorted results. It would be much better to run a monthly poll which is open for 30 days, the problem with that is you're unlikely to get enough people to vote to have any conclusive results, at least any that are worthwhile. I like the rule of at least 1000 people taking part, which mitigates natural variance, and you do get to see some sort of reliable trend. However, that does depend on the total pool available, for example if Bitcoin has 4 billion people using it, collecting information from a larger dataset than 1000, will always be beneficial. As you increase the dataset, as long as it's relatively randomly selected people participating, you should start to see more reliable data.

You'll always have people submitting fake data, and that's the point of larger datasets to try, and also prevent that along with other things. However, running a survey over a few years on a volatile currency like Bitcoin, doesn't make much sense.
1690  Economy / Gambling discussion / Re: 🥊 The UFC Info and Prediction Thread on: May 18, 2022, 08:42:35 PM
"Those type of kicks don't usually land as good as it did that night" I really think that is because Ferguson's chin is not that solid anymore
Yeah, I mainly say that because usually they don't connect that well. Not that they don't happen, but that the fighters are usually moving away enough to mitigate the actual force. You could see that kick not only landed perfectly, but was also executed perfectly right to the flick of the toes. It was a just a very unlikely event, matched with the speed to surprise, and the fact that Tony wasn't expecting it at all, is the reason he was absolutely folded.

I'll admit it, I was worried for him. He didn't get up for quite some time, and appeared to be out for some time. However, I don't think he's finished as a fighter, and I do think he has demonstrated more than this fight to justify saying he has a decent chin. I've never seen anyone take a beating as much as him, except Kattar in the Max Holloway fight.
1691  Bitcoin / Bitcoin Discussion / Re: I Started the First Bitcoin Book Club in my City on: May 18, 2022, 03:09:06 PM
My advice; do not over shoot the significant of Bitcoin, it can hardly affect the economy or improve standard of living, if can however make citizens to want to be more financially aware and independent instead of relying on an economy which is plagued by inflation.
Right, although I do believe it has the potential for both. However, far too much emphasis is put on the amount of Bitcoin can go up, and too little is focused on the true value of Bitcoin, allowing you to ditch third parties, take control of your own money, as well as looking after your own privacy. That to me is invaluable. Obviously, there are other benefits to it, but for me those are some of the key components that need to be taught, not the fact that Bitcoin can make you some money.

I'd like the emphasis to be shifted towards educating people on investing to better your freedom, rather than to lie your pockets. Unfortunately, the latter is usually the center of the topic.
1692  Bitcoin / Bitcoin Discussion / Re: Tesla used to power cryptocurrency mining. on: May 18, 2022, 03:04:13 PM
So no, there is nothing green about it and it's just one guy wasting tons of electricity because he affords to do so, as vapourminer said, a few of Tesla's clients got a free lifetime supercharger when they bought their car.
That's true at the moment, although that's why I said that in the future we might actually benefit from this sort of technology. Electricity can be generated via green energy, mining resources can't. Obviously, to be able to do it we'll need to use our existing resources. However, utilizing things like solar, and hydro plants could potentially increase the amount of green energy being used. The way the world is going, there's enough funding for this to become a reality.

Again, we aren't any where near it, and I do think the closer we get to it, the quicker this green energy buzz word will sort of die down. However, I do expect massive amounts of progress in terms of converting a lot of places to green energy.

Bitcoin, and other industries will benefit from that, and we shouldn't really be hostile to the idea. It's the best approach, it's just everything has been blown out of proportion, especially when it comes to the amount of energy Bitcoin uses in comparison to other industries.
1693  Bitcoin / Bitcoin Discussion / Re: Tesla used to power cryptocurrency mining. on: May 18, 2022, 12:24:57 PM
Quite a nifty way of doing it. Honestly, despite the ongoing conflict between Bitcoin users, and Elon. If he makes some awesome batteries in the future, and his initiative to offer free energy to his customers actually takes off, and becomes the way of doing things, I can see his technology actually benefiting Bitcoin, rather than hindering it. At least in the long term.

Rather than serving as an influencer, Elon Musk could've thought in such a way as his customers.
I think this is a bit unfair. I know the general consensus is that we should all hate Elon, for the effect he has had on Bitcoin, and its adoption. However, Tesla owners are doing this merely to profit for themselves, they don't have shareholders or anyone else to convince. Tesla on the other hand has to maintain its green energy reputation, since they're trying to convince people that their cars are clean, and the future. That's not easily done when they're publicly supporting Bitcoin, that has been dragged through the mud about its energy usage, even if it's not entirely accurate reports, its public perception that matters to him, not the truth.

Plus, he's much more than an influencer.
1694  Economy / Gambling discussion / Re: 🥊 The UFC Info and Prediction Thread on: May 18, 2022, 12:14:12 PM
but that unexpected kick from Chandler really has got him, and he got to admit that he doesn't have a chin anymore
I don't know about that. In previous fights it has held up pretty well. I mean like I said before that's probably the best kick Chandler will ever throw, and actually land. Those type of kicks don't usually land as good as it did that night. Of course that's going to drop arguably anyone, and unfortunately Ferguson wasn't given the chance to actually try, and survive it since he was knocked out cold. It was a nasty kick, which landed absolutely perfectly.

Up until that point, and maybe the takedown, Chandler was getting beat up pretty bad. Every exchange Ferguson seemed to hurt him. I don't think he's as finished as everyone is making out. I think its more that being fans we might be a little concerned about his health since he's been fighting for so long, and the way he fights usually means he's subject to quite a few beatings. However, from a skill point of view he was still threatening a very good chandler who's a contender. That says a lot to me, and I by no means think Tony is finished.
1695  Bitcoin / Development & Technical Discussion / Re: Cheating the penalty system with lightening network by force publishing old com. on: May 18, 2022, 11:54:17 AM
LN is more at risk of loss than bitcoin is.
LN has more flaws/bugs and issues than bitcoin.
LN has more ways to extort, cheat and steal than bitcoin
Might be worth going into the reasons why you believe this. Bugs,  and flaws would be hard to measure, since not all bugs are discovered in either of the software's. Unless, you have done the math, and Lightening has already exceeded the amount of bugs that bitcoin has had.

Not sure how it has more ways to extort, cheat or steal than Bitcoin, though?

If you can social engineer someone to download an infected version of Lightning, it's not Lightning's fault when they lose funds. They literally can't do anything against this - like any other software.
You could just as well get them to download an infected Bitcoin Core or simply a complete RAT virus that gives you full control of the system and the ability to steal all of their cryptocurrencies, right? What's this to do with flaws in Lightning?

By your definition, Bitcoin Core is also a bad software because I could convince someone to use my modified binary that generates wallets from a fixed randomness that I predefined myself.
Yeah, there's no additional security risk with downloading from a bad source, any more so than Bitcoin core, Electrum or whatever wallet software you're using. The security risk is a lot of people don't do their research, and don't verify software. Ideally, because you have to download the software first of all to be able to verify it, doing so in a isolated machine or isolated environment is best. e.g Qubes OS disposable qube, verify it, and then simply copy it to wherever you want it.

I disagree, many prefer to use whatever software they already familiar. Switching to different software means you need to learn again and handle any migration (in this case moving Bitcoin and make new backup). There's reason why people keep using Windows 7 and Office 2007.
Yeah, people don't like change, and that's why it's hard to get things done sometimes. Slightly astray, but it goes hand in hand with your later statement about poor security awareness. Those that are ignoring that their software or operating system is no longer being offered security updates, are those that don't have very good security awareness.

It's easy if your target have poor security awareness or easily swayed.
Which is unfortunately the majority of users. Also, it might not just be down to these, it might just be complacency. There's a ton of examples of people getting too comfortable, and therefore complacent in their practices, and ultimately paying the price for it.
1696  Other / Meta / Re: How do you feel when someone gives you MERIT? on: May 18, 2022, 10:47:25 AM
Merit ruined my life.
Finally hit legendary [GONE WRONG]

prior to Theymos rolling it out it was chaos all over the forum, and it got to the point where the shitposting and account farming was driving me nuts.  Many of my posts from that time period were really angry because I felt helpless to do anything about it.
I think it's probably one of the implementations that the majority will actually agree made the forum ten fold better. There was a period of time where everything was getting a little bit out of hand. Now spam has reduced, we're actually starting to get reports from way back when, and ultimately cleaning up some of the mess left behind before merit. Obviously, there's still a lot of spam coming through on a daily basis, but nothing out of the ordinary for a forum this size. Whereas, before with the ICO craze in particular, it was crazy the amount of spam being pumped out.

if you've accumulated sMerits, please do your best to pass them on.  It keeps the merit system well oiled.
With the somewhat recent merit source increase I'm finding I'm banking my sMerit for when I've cycled a little bit too quick with my merit source allocation, whereas I couldn't do that before since it was all going all too quickly.
1697  Bitcoin / Bitcoin Discussion / Re: Kwik Trip To Install 800 New Bitcoin ATM on: May 17, 2022, 11:12:56 PM
It would have been an overly great news if it weren't the 11% fees.
That's too much, especially as I expect KYC also become - sooner or later - mandatory for all amounts, hence even more premium as taxes.
Dare I say it; absolute daylight robbery. To be honest, while ATMs might be a good way of increasing adoption, this might actually do more harm than good, since people who are interested in using them, might go to use them, and realise that they charge a massive fee like that, which ultimately leads to them losing interest thinking that Bitcoin is fundamentally like that.

I know they have to recoup the costs of the machines somehow, but 11% is absolutely ridiculous. I'd be interested to know anyone that regularly uses them with those sort of fees. I'm not sure there's any monthly statistics on people using them, i.e just the number of people of independent deposits/withdrawals. With those kinds of fees, the convenience for me doesn't out  weigh those enormous fees.
1698  Other / Meta / Re: No way to know if a user has edited the reply\topic on: May 17, 2022, 10:54:43 PM
I guess this forum made it this way to atleast, give users some time to still make some unnoticeable changes or corrections their posts incase of mistakes or  prematurely/mistakenly clicking the "post" button while still typing/creating the post.
Most of the time edits within the first few minutes of the post is spelling mistakes or phrasing of the post being corrected. I know this from experience, and I expect everyone here on the forum has made mistakes. I mean sometimes it as simple as using "has" instead of "as", which I'm only remembering now I noticed I did the other day, I think I forgot to edit that one though Tongue. Anyway, hardly any malicious editing is done during this period, and therefore as suggested above, isn't worth keeping in the database.

However, keeping edits which have been edited after that grace period are worth keeping somewhat. For example, from a forum perspective, a user could be looking to gain popularity of a thread, get lots of replies, and therefore appear higher on the list when people sort by views/posts or simply have a thread which a lot of users refer too. Then, they could go back, and edit that and remove a malicious link or even add one. That's just one of the examples, not a particularly strong one, but there has been instances where checking a edited post has been worth the effort, and has helped with efforts of moderation. I'm just failing to come up with a really good example right now, since I'm not one of the ones which has access to that data, so I'm using educated guesses rather than speaking from experience.

Although, it also serves another purpose, on suggesting how up to date the thread is. For example, if you're following a guide on how to import a private key, you probably want to know that it's semi up to date.

1699  Economy / Gambling discussion / Re: The UFC Info and Prediction Thread on: May 17, 2022, 10:17:18 PM
It's a decent card imo.  This one looks like it's easier to parlay with most favorites winning.  I could still see a couple of underdogs who could win tho.  But there might be no pie shitters here.  And if there was one it will def be Holly Holm.

But yeah, this event could be a great one to claw some of the losses back.  We'll see... 

And Santiago Ponzinibbio vs. Michel Pereira could be fight of the night imho.  It could go either way.  I think Welsh is on the Pereira side.
Yeah, I've never had much luck when adding more than four favourites to an accumulator. It always seems to be the one with the lowest odds that loses too.

Yeah, I'm definitely on Pereira's side, although that's just because he's one of my favourite fighters in the UFC. If I was going to make a sensible prediction, it would probably be he loses on points, due to gassing out. I think he has been getting slightly better with his gas tank, at least in his last fight, but it's obviously still a huge problem. Although, I'm not going to complain too much, because when he's going full throttle he's one of the most unique fighters in the roster. Always entertaining up until he gasses.
1700  Economy / Gambling discussion / Re: Sportsbet.io's English Premier League Football Pool Discussion Thread on: May 17, 2022, 10:13:31 PM
Yeah, Klopp has some serious balls fielding that side. I wasn't expecting so many changes that's for sure. Although, despite the changes we always looked in control, and despite the goal Southampton managed to get, which appeared to be deflected, I think we dominated the game, and largely Southampton didn't look that threatening.

I thought there was a foul leading up to the Southampton goal, and to be honest kind of dumbfounded on how it wasn't even considered worth looking into more closely. In my book was a clear foul. Anyway, I thought he did what we needed, and know the last game of the season is going to be absolute crazy, with so many other games also having significant weight on who finishes where, you could probably watch all games, and there's almost something to play for most of them.

I still have hope that Aston Villa will get something from the game, and we just need to beat Wolves.
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