Wars have been fought over who gets to mint the currency. Its a privilidge. The reason the world adopted the USD was because it was secure because the US military is massive. If Bitcoin keeps growing and becomes some kind of reserve asset some government will declare war on it, and get everyone to use its own currency instead.

And like i said, after a few more halvings there is not going to be alot of money for miners anymore which is when it becomes completely feasible for a government to establish enough hashrate to 51% attack. Actually the smart thing would be to just let Bitcoin get adopted, especially by smaller countries, and then you 51% attack it to force all these countries to use your CBDC instead.

I mean China banned skype in 2010 because they said only China Telecom and China Unicom are allowed to operate VoIP services in the country. Its just a matter of time until they ban bitcoin and 51% attack it because only Chinas Central Bank will be allowed to mint money. And noone can do anything about it.

Senators are dumb. They dont get support because they are smart.

Has anyone wargamed a 51% attack on Bitcoin? How would it go down. What defensive measures could be taken.

*edit* Ive been trying to guestimate the block rewards in the future and what ive arrived at is difficulty will go down alot. This is not good if there is a relatively large faction in the world vying to supply the reserve asset because for the cost of less than building a power plant you could 51% attack bitcoin at that point. So if a proof of stake coin tracks BTC market cap they can just wait for a few more halvings and then attack. Or if a legacy government like China wants to assert their own CBDCs they can spend a fraction of their military budget to attack bitcoin. Not cool.

have developers given up on trying to scale ETH? It seems sharding has been postponed and all efforts are instead direction toward fee burning and proof of stake which doesent help users and developers much.

are any of you more profitable compared to if you just bought the bitcoin instead of the miner?

I am coming back. But things have not improved yet. Bitcoin is becoming a loser!

Hello. I am always disgusted when i come here. You seem to not care one bit about bitcoin. Only thing you care about is when you get your next block. Well its been 6 months since segwit was released and you are still not signalling.

The fees have become exorbitant. And before you say you wont make a difference, well what does it cost you? Just signal, its better than not.

How would you feel if bitcoin lost its number 1 spot? How do you think bitcoin can attract new people and increase the value of the coin then? Miners lack of segwit signalling is pushing people into alternative crypto's because fees are getting crazy high. You will understand when bitcoin loses its no1 spot how bad you fucked up. Have a nice day.

Nice to see that mining is alive and well.

@Kano, have you considered signalling segwit in order to push it closer to activation? With SegWit activated your pool will be able to include more transactions per block which obviously translates to more fees for your miners. Right now the 1mb limit is forcing you to forfeit transactions to the next miner because you can only include 1mb per block you find atm.

I thought it did? For example more than half of all the bitcrystals have been burned it seems.

This was an early marketing gimmick spread by people who didnt care about bitcoin but only $$$ to get people to invest. However, if you want low cost money transactions bitcoin is still the best bet. But the transaction systems have to be built on top. Unfortunately miners are against this, but in that they are only reducing the value of the tokens they mine.


What if EC has a bug? I mean the Concept behind BitcoinEC is dumb. They strip out the things Bitcoin Unlimited has worked on. Xthin, Parallel validation and so on, because you cant trust the devs who made it. Its crap. But the same devs made EC. So why isnt that being scrapped too?

Meh, kano is sliding into obscurity. He will troll the community until he does. Meh.

Thats fine. You do not have the miners of your pools interst then. Bitcoin price will continue to dwindle, and you just stood idly by. Thats fine. But how can you live with that and how can anyone support this pool?

Kano, by signalling segwit you can significantly reduce the likely hood of a contentious fork and give the market a big relief. It would be huge news. Would you consider doing this, even tho you may not think its a perfect solution?

I know you are all busy, but there is an attack on bitcoin right now which i want to explain. Basically BTC.TOP mining pool will spend up to $100M to attack any chain they do not like. So if they decide to hardfork bitcoin and you do not follow they will attack your chain. What they are hoping to accomplish with this is to control what miners signal and what they dont. My wish is for more miners to join SegWit to show and to resist that this type of attempted coercion is not ok. Have a nice day. And good luck with the mining.

Satoshi Nakamoto was not a weak character like Craig Wright

hey. this website is great. i use it every day. thank you very much.

Hey

How do you calculate taxes on alt-coins bought and sold with Bitcoin? For example if i bought 10 bitcoins worth of Monero, and monero rose 10% and i decides to sell for that extra bitcoin, how does that become taxed? Furthermore if/when i decide to sell the 11 bitcoin i now have for fiat, how might that be taxed? Thank you in advance.

Uh my first question. Why is there not a thread like this?

Bitcoin is not competing with Paypal or Visa its competing with the US dollar. So in a sense the relationship between Bitcoin and Paypal is like the Trojan horse and Troy. If we get bitcoin inside paypal, then that will be a big blow to the US dollar.

Thank you. Do the pros outweigh the cons?





How big of an issue is that?

And i think the sidechain part is irrelevant. Who cares what people do with bitcoin? As long as they pay the fees to miners and dont ddos (In fact SegWit improves verification times afaik) etc. There are many benefits of SegWit and the cost and risks seem neglicible. Anyway im out. Peace.