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Trusting the news of some newbie in the bitcoin world or trying to manipulate the mass's thoughts regarding bitcoin.
I don't see any other reason than the ones I've stated above. Bitcoin isn't dead and won't be but will remain the main cryptocurrency of all time.
It's the nature of people to say whatever they think about it's just their review sometimes.
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If bet houses and casinos can get licences, then it must have been reason through and fro before any government could grant that kind of wish. It is your responsibility to gamble the way you like as long as you are above 18+, you have no problem with anyone or to be judged the way you gamble.
These days it's a must to have a casino license if you own a casino, most of the stuff in crypto and blockchain is getting centralized continuously, and simultaneously it's just a matter of time when the government have their own blockchain, I've heard something about Solana that it's a centralized crypto I'm not sure if that's true but I'm going to do quick google search after posting this reply. You see mate, everything in life has an optimum level, people can go over length just to prove something. Gambling is a probability and risk that involves money but the pathetic ones will always go overboard and this thing doesnt just don't happen in gambling alone, it happens in other parts of life, even the crypto we have today, there are thousands of investors who have enjoyed big profits from the bull run and there are others who have lost heavily and still called crypto scam investments, it is their mistake and should deal with it for failing to buy at the bottom.
It's hard for me to comprehend everything you wrote in this this reply but if I'm getting it correctly then you're talking about gambling being a risky business. To which i'd deny. Gambling business is currently ruled by top companies and they're printing the money because it's nearly impossible to win against the casino in long run, I mean in long run it's possible to be lucky here and there but it's quite hard tbh. |
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The only thing that is dropped to 0 is the block subsidy, and will happen in 120 years. 51% attack has nothing to do with it, and will always be possible to accomplish (although, unlikely) as long as there's the Bitcoin network.
This is what I was wondering about, In past replies, some were stating miners will only earn through transaction fee commissions, and I think there was hardly any reply focusing on dropping the block reward in btc fractions. If the case of bitcoin reaching above 120 years occus then bitcoin should have at least 20Trillion marketcap, which is a very good possibility and I think can be achieved. |
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Talking about bitcoin’s blockchain; when a miner is trying to alter the ledger, other miners following the correct rule-see this and decline to accept the change. And as a result, the bad guy's work is pointless. At least 20% of the hashrate is now owned by publicly traded corporations, making it impossible for a miner with 51% of the hashrate to launch an attack quickly in a matter of seconds.
The 51% attack and you mentioned is about replacing an older blocks with another valid block meaning they both follow the same "correct rule" since they are both valid. You can't reject such blocks. Also technically it is not the miner rejecting invalid blocks, it is the node. The reason why 51% attack doesn't work is because how decentralized the mining in bitcoin is. It is not possible to gain control of that much hashrate. These days it's nearly impossible to perform that 51% hash rate attack after looking at the hardware different people are using and not at the same place. I 'd like to know in 140 yrs when bitcoin wouldn't be mineable then how would this 51% attack be still work?, I mean at that time there will be no blocks to mine only transaction fees. but then transactions wouldn't be inside blocks. |
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I would say that it has impacted the price, but to say that we are in a dump? I don't think so.
I think we're in bear market at the moment and can't be certain as to where the bitcoin price will go in the long run. I made a thread where there is a discussion of bitcoin hitting 45k before the end of this year or not. We are in bear market, so obviously every investors is very prone to this kind of negative news and so are very trigger happy to pull the sell button if they see the price going down.
People are reactive to what the news tells them, and the rich know how to make use of news in their favor. I'd say people who depend on news forecasts for certain stocks tend to lose in long run. But the good thing is that the bleeding has been halted and we remain above the biggest support of $20K. And this effect should be just short term, so there is no need to worry as bitcoin could gain back what we have lost today.
At the time I'm writing this post, the bitcoin price is around 19.7k, pretty much close to 20k like you said. I also agree with this line where you mentioned it would be just short-term, I think BTC will skyrocket more than 60k next time we see a bull run and it's also expected by me at least that we can see a market cap of 4 Trillion at least before the end of 2024 |
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I just read the case and I'm just surprised seeing someone claiming he created Bitcoin. It's pretty laughable and also a serious case we shouldn't joke about.
Yes, I've also read someone in the reputation section recently but can't remember their name. People are so naive that they say they created bitcoin and don't even understand the basic function of bitcoin take a look at Digitalmonk in reputation section you'll find them. Because everybody knows that Satoshi Nakamoto created Bitcoin, of which all evidence could be found on his forum profile Satoshi. So my question here is, why didn't Wright provide the 1.1million Bitcoin he claims to own when the court ordered him? Satoshi left the forum and if I remember correctly then the account satoshi was hacked and then locked by the admin theymos permanently just like lauda's. Because for me, this is the case and time for everybody who has ever believed in Bitcoin to stand up for this case.
There was a believer of bitcoin who expected this price of 50k/BTC will be hit and he talked about it briefly, I can't remember the user and topic. |
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Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=900385Current amount of Posts (Including this one): 1736 BTC address for payouts: bc1qlqjr0sfx6pg44g08898u05aw8elg4zq4wf979d Utopia Public Key for CRP payouts: A478A115E329DF24B16EE07B3D424B166A36A976529CAA489674D3308A1EE22B Earned merit in the last 120 days: 27 |
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Do you mind sharing what post you got this excerpt from here on the forum?
it was in the forum's main Ad space banner's place. |
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Meta board is for discussions about the forum. Your topic belongs to Bitcoin discussion board. Please move it to that board. Yes, I know it should be in the bitcoin discussion, but I'm writing this content after it was clicked when I watched this written in the forum's banner section. Meta board is for discussions about the forum.
Your question is not new, it has been asked repeatedly since 2009. When price of Bitcoin continues to rise, miners will receive more money from transaction fee and if it is good enough for them, they don't have to care about money from block reward.
Do you see now with 6.25 BTC as a block reward for each new block, miners still satisfy with that. In the past, miners can receive 50 BTC, 25 BTC, 12.5 BTC as a block reward. The same thing will be repeated in future halvings.
- I guessed that it's not the first time someone writing this about bitcoin. - I know about the block reward, but the reward/transaction is new to me, which is written below this quote. In 2019, bitcoin price was only $7000, mining reward was 12.5 BTC. In 2022, bitcoin price is now $22400, mining hashrate increased more and more if compared to 2019. Before 2016, mining reward was 25 BTC, yet the mining hashrate increases. There has been more miners and some existing miners continues to mine bitcoin. All because they are making profit from it.
Miners earn mining reward and transaction fee. The more the adoption continues, the more people will use bitcoin for transaction and also Bitcoin price will increase, including the depreciating fiat value, all to make mining still profitable when all bitcoin are mined.
That 12.5 bitcoin were they block reward or transaction fees as you said. I've been using bitcoin since 2014 and didn't know that there is another reward other than mining that is on transactions. But if there aren't going to be any block rewards, then where the transactions will be placed as a collection for the miner to process. As long as bitcoin adoption continues, no problem. The mining reward halved but there are increasing mining hashrates. If there will not bitcoin as a mining reward again, the transaction fee is gradually replacing it as the halving reward is decreasing at every 210000 blocks (approximately every four years).
I think bitcoin will remain the main cryptocurrency till there's a block reward, and ETH might take over after that as the main cryptocurrency with more market cap. |
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Every time a block is mined, a certain amount of BTC (called the subsidy) is created out of thin air and given to the miner. The subsidy halves every four years and will reach 0 in about 130 years.
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Source: Bitcointalk.org
What do you think will happen to bitcoin and this forum after 130 years when no bitcoin can be mined? Or can it be in fractions? I'm no bitcoin expert, but is it possible that bitcoin can undergo a similar merge like ETH before that happens? Where miners are not earning for their proof of work. Where miners will mine something other than bitcoin. Where Bitcoin will derail from the main title of cryptocurrency. Where bitcoin will be remembered as an ex-main cryptocurrency. I want your thoughts on this. |
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My Countdown to Hero Member Rank
Number of Merit(s) left: 160
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Here's mine: bc1qlqjr0sfx6pg44g08898u05aw8elg4zq4wf979d
Regards.
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Las Vegas is popularly known as the city of gambling because it has the highest rate of gambling activities and highest revenue generated from gambling activities, so in regards to the question you just ask, the city with the highest Blockchain activities should be called the Blockchain city, while the city with the highest crypto/Bitcoin activities and revenue generated from crypto should be also known as the crypto/Bitcoin capital, likewise vice versa to any other
It's true Las Vegas is popularly known as the city of gambling but making it the capital of crypto will mostly harm the reputation of blockchain, showing it's leaning toward the gambling hub of the world. I think one of the innovative countries deserves the title of capital. That's the reason I chose Singapore. |
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1 BTC equals to 1 BTC. This is an unrealized loss, you do not have to panic, check the price history of bitcoin and see the good reason not to panic. If you can hold for like 2 years, you can just leave it there and see when the bull run will start. I will not advice you to sell in loss if you do not need the money for anything now.
I agree with this reply! We've seen a similar bitcoin movement from 2011 to 2022. Bitcoin goes up, then down, then doubles up from the initial down the way I'm writing. It could be hard to understand but keep in mind the longer you hold bitcoin, the better you're set up for the future. Bitcoin is the main cryptocurrency, and no altcoin can beat it down. |
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I'd choose Singapore because I think they're most creative in their approach to tackling situations.
For example, take a look at their water purifying system. They convert every drop of wasted water into drinkable, and that's crazy wow for me.
You can call me a tech fan because the reason I chose Singapore for the blockchain capital but I don't mind.
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Bitcoin is famous and journalists like to portray bitcoin as a negative influence on people.
Have you ever seen any positive news about bitcoin on TV ? Mostly no right.
Not all journalists like to portray bitcoin as a negative influence some do. On the news however, it's a different thing but I've seen Negative, positive, and neutral info regarding bitcoin on the news, mostly negative when bitcoin was under 1k. So whenever bitcoin is involved in any crime the journalists put the limelight on bitcoin as if it is because of only that the crime had happened.
It's not only on bitcoin, but the majority of the news is shown in a way where it's supposed to intrigue the audience and what's better than bitcoin. People should understand that it's because of the negative mind of the criminals that crimes happen.
All the other things are just a catalyst.
Criminal and not criminal. In the case of this thread, those 4 were involved in money laundering, which could've been due to the use of bitcoin, most likely they used some mixer and the authorities came to know about it when they got the physical components of their computer on which they were doing this. |
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Newspaper or the whole media world will go with the title which is more attractive so they will get more readers and engagement respectively but in the article if they mentioned the actual reason for this arrest is kind of shady activities involved not only for doing trading with cryptocurrencies.
Exactly. Just by doing btc trading, it's hard for the authorities to detect bitcoin trading unless these people were caught for something shady other than bitcoin illegal trading. I also think these people were a part of the same group, and 1 of them getting caught lead to the arrest of all 4 of them. |
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The last 2 days the bitcoin price dropped more than 10% and is now only around $18600, I hope we are at the lowest point and hope to return to $20k soon, if previously the price was below $20k it only happened a maximum of 40 hours and now it's more than Our 50 hours are under $20k.
We have seen worse when btc went under 200$ in past, I'm bullish on bitcoin for the end of this year. I think we'll see a sudden surge in btc price like we saw in past, btc going over 1k, then 10k, then 20k. those boundaries were crossed quickly, I think the same will happen now. |
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