somac.
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Activity: 2105
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Never selling
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February 18, 2021, 09:21:32 AM |
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JSRAW, Btway, thanks to you, I came across this idea, ("a year ago, 4 cents could buy 606 satoshis, and it's a pity that we don't use "sats" as a standard, continue to say 0.01 bitcoin, etc") In case there are lightning network fans here, here's a quick LightningATM tutorial written by @21. Overall a very cool concept ... thanks, man! it is time for a well established Layer2 solution because on-chain fees are high and to expensive for txs < 100 USD. https://ycharts.com/indicators/bitcoin_average_transaction_feeOf course, if everyone just switched over to native segwit addresses they could save 50% on their fees. This would also have the added benefit of allowing more transactions per block too. Anyone out there who complains of fees and are still using legacy addresses deserve it. Segwit intentionally kills accountability - so check for what asking the big guys having audits Do you mind explaining your comment a bit clearer? dropping signatures - dropping the sign of a contract / payment - drops accounting And practically speaking why do you think that matters?
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Gyrsur
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Bitcoin Legal Tender Countries: 2 of 206
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February 18, 2021, 09:21:59 AM |
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ChartBuddy best pic!
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hv_
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Activity: 2534
Merit: 1055
Clean Code and Scale
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February 18, 2021, 09:35:11 AM |
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JSRAW, Btway, thanks to you, I came across this idea, ("a year ago, 4 cents could buy 606 satoshis, and it's a pity that we don't use "sats" as a standard, continue to say 0.01 bitcoin, etc") In case there are lightning network fans here, here's a quick LightningATM tutorial written by @21. Overall a very cool concept ... thanks, man! it is time for a well established Layer2 solution because on-chain fees are high and to expensive for txs < 100 USD. https://ycharts.com/indicators/bitcoin_average_transaction_feeOf course, if everyone just switched over to native segwit addresses they could save 50% on their fees. This would also have the added benefit of allowing more transactions per block too. Anyone out there who complains of fees and are still using legacy addresses deserve it. old cold stores with legacy addresses will exist nearly the whole time of the Bitcoin life-cycle. even with just the Segwit addresses a Layer2 solution is needed because sometime in the future the fees should replace the block reward nearly completely. (did you not understand the economical base concept of Bitcoin ) either Bitcoin will be become super expensive or at least one reliable Layer2 solution will be established. BTW, it was Satoshi's intention too to get Bitcoin layer2 ready. Of course I understand that, it would just help in the meantime is all I mean. Layer 2 is coming and it is a good thing, but obviously still needs more time. How is accounting done off-chain ? Pay another blockchain doin such ? nah, only on-chain is the way to go - that's real bitcoin
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bitcoinPsycho
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Activity: 2618
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$120000 in 2024 Confirmed
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JSRAW, Btway, thanks to you, I came across this idea, ("a year ago, 4 cents could buy 606 satoshis, and it's a pity that we don't use "sats" as a standard, continue to say 0.01 bitcoin, etc") In case there are lightning network fans here, here's a quick LightningATM tutorial written by @21. Overall a very cool concept ... thanks, man! it is time for a well established Layer2 solution because on-chain fees are high and to expensive for txs < 100 USD. https://ycharts.com/indicators/bitcoin_average_transaction_feeOf course, if everyone just switched over to native segwit addresses they could save 50% on their fees. This would also have the added benefit of allowing more transactions per block too. Anyone out there who complains of fees and are still using legacy addresses deserve it. old cold stores with legacy addresses will exist nearly the whole time of the Bitcoin life-cycle. even with just the Segwit addresses a Layer2 solution is needed because sometime in the future the fees should replace the block reward nearly completely. (did you not understand the economical base concept of Bitcoin ) either Bitcoin will be become super expensive or at least one reliable Layer2 solution will be established. BTW, it was Satoshi's intention too to get Bitcoin layer2 ready. Of course I understand that, it would just help in the meantime is all I mean. Layer 2 is coming and it is a good thing, but obviously still needs more time. How is accounting done off-chain ? Pay another blockchain doin such ? nah, only on-chain is the way to go - that's real bitcoin Fuck off to bsv then knob end
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Cryptotourist
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Do you mind explaining your comment a bit clearer?
He can't, because the English language is very limited in Morocco, and parrots cannot explain shit. He does appreciate responses in his cunt thread if you want, but for the sake of your IQ - I wouldn't.
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Gatorelf
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BlackRock manages $8.7 Trillion, that's one company having 9market caps of BTC, they can single handedly add another 0 to the current price 1% of 8.7trillion is 87billion These guys make announcements of intentions after the fact
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600watt
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Activity: 2338
Merit: 2106
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February 18, 2021, 10:18:34 AM |
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JSRAW, Btway, thanks to you, I came across this idea, ("a year ago, 4 cents could buy 606 satoshis, and it's a pity that we don't use "sats" as a standard, continue to say 0.01 bitcoin, etc") In case there are lightning network fans here, here's a quick LightningATM tutorial written by @21. Overall a very cool concept ... thanks, man! it is time for a well established Layer2 solution because on-chain fees are high and to expensive for txs < 100 USD. https://ycharts.com/indicators/bitcoin_average_transaction_feeOf course, if everyone just switched over to native segwit addresses they could save 50% on their fees. This would also have the added benefit of allowing more transactions per block too. Anyone out there who complains of fees and are still using legacy addresses deserve it. old cold stores with legacy addresses will exist nearly the whole time of the Bitcoin life-cycle. even with just the Segwit addresses a Layer2 solution is needed because sometime in the future the fees should replace the block reward nearly completely. (did you not understand the economical base concept of Bitcoin ) either Bitcoin will be become super expensive or at least one reliable Layer2 solution will be established. BTW, it was Satoshi's intention too to get Bitcoin layer2 ready. Of course I understand that, it would just help in the meantime is all I mean. Layer 2 is coming and it is a good thing, but obviously still needs more time. How is accounting done off-chain ? Pay another blockchain doin such ? nah, only on-chain is the way to go - that's real bitcoin Fuck off to bsv then knob end indeed, fuck off.
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somac.
Legendary
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Activity: 2105
Merit: 1238
Never selling
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JSRAW, Btway, thanks to you, I came across this idea, ("a year ago, 4 cents could buy 606 satoshis, and it's a pity that we don't use "sats" as a standard, continue to say 0.01 bitcoin, etc") In case there are lightning network fans here, here's a quick LightningATM tutorial written by @21. Overall a very cool concept ... thanks, man! it is time for a well established Layer2 solution because on-chain fees are high and to expensive for txs < 100 USD. https://ycharts.com/indicators/bitcoin_average_transaction_feeOf course, if everyone just switched over to native segwit addresses they could save 50% on their fees. This would also have the added benefit of allowing more transactions per block too. Anyone out there who complains of fees and are still using legacy addresses deserve it. old cold stores with legacy addresses will exist nearly the whole time of the Bitcoin life-cycle. even with just the Segwit addresses a Layer2 solution is needed because sometime in the future the fees should replace the block reward nearly completely. (did you not understand the economical base concept of Bitcoin ) either Bitcoin will be become super expensive or at least one reliable Layer2 solution will be established. BTW, it was Satoshi's intention too to get Bitcoin layer2 ready. Of course I understand that, it would just help in the meantime is all I mean. Layer 2 is coming and it is a good thing, but obviously still needs more time. How is accounting done off-chain ? Pay another blockchain doin such ? nah, only on-chain is the way to go - that's real bitcoin So we're in agreement then, you are a retard.
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El duderino_
Legendary
Online
Activity: 2646
Merit: 12962
BTC + Crossfit, living life.
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February 18, 2021, 10:42:32 AM |
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In the last bull market the price of bitcoin ranged between $600 and $20,000. In terms of sentiment, I would say we are roughly where we were when bitcoin was $3,000 last time. Or about 5x from the low. What do you think? https://twitter.com/jillruthcarlson/status/1362084275621793794?s=20What do we think? Could be reasonable
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tertius993
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February 18, 2021, 11:31:44 AM |
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How do you calculate 50k as “5x from the low”? That would make the low (after the last bull run) roughly $10k when it was actually more like $3k.
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d_eddie
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February 18, 2021, 11:34:06 AM |
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A lot of talk about tulips here I see. Of course what a lot of people don't know is that the Tulip story is not what they think it is. See the following paper (unfortuantly locked, scihub might have a free version). https://link.springer.com/article/10.1007/s11127-006-9074-4Abstract:
The famous tulipmania, which saw the reported prices of several breeds of tulip bulbs rise to above the value of a furnished luxury house in 17th century Amsterdam, was an artifact created by an implicit conversion of ordinary futures contracts into option contracts in an imperfectly successful attempt by Dutch futures buyers and public officials to bail themselves out of previously incurred speculative losses in the impressively price-efficient, fundamentally driven, market for Dutch tulip contracts. There was thus nothing maniacal about prices in this period. Despite outward appearances, the tulipmania was not a bubble because bubbles require the existence of mutually-agreed-upon prices that exceed fundamental values. The “tulipmania” was simply a period during which the prices in futures contracts had been legally, albeit temporarily, converted into options exercise prices. Interesting read, thanks somac. Read more about 17th century Dutch tulips mania here
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d_eddie
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How do you calculate 50k as “5x from the low”? That would make the low (after the last bull run) roughly $10k when it was actually more like $3k. Read El duderino_'s post with more attention
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vapourminer
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what is this "brake pedal" you speak of?
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February 18, 2021, 11:46:22 AM |
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Of course, if everyone just switched over to native segwit addresses they could save 50% on their fees. This would also have the added benefit of allowing more transactions per block too. Anyone out there who complains of fees and are still using legacy addresses deserve it.
ill keep my legacy addys for the most part. i dont care about the bigger fees (as opposed to segwit) as its generally just a small fraction of the overall amount transferred anyway. i try to plan ahead and liquidate what i think ill need in the coming timeframe plus a bit of slop just because i know im an idiot and like shiny objects. but yeah this messes up small transactions but isnt that what L2 is for? sorry for my olde skoole legacy fixation. just another hobby for me.
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d_eddie
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February 18, 2021, 11:48:03 AM |
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My point is that you can spy all you want, but when another miner picks up a transaction involving your "banned" address, the transaction has one chance to get on chain. Give it time, and it eventually will. Are you suggesting to fork to keep those addresses out, are you unaware of how bitcoin works, or are you just taking the piss?
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El duderino_
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Online
Activity: 2646
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BTC + Crossfit, living life.
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February 18, 2021, 11:50:42 AM |
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A new hero has arrivedThe helicopter road map is very nice as well.... using it in personal friend groups as well If that’s allowed ?
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Phil_S
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We choose to go to the moon
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February 18, 2021, 11:53:59 AM |
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d_eddie
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February 18, 2021, 11:54:39 AM Last edit: February 18, 2021, 12:05:14 PM by d_eddie |
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A new hero has arrivedThe helicopter road map is very nice as well.... using it in personal friend groups as well If that’s allowed ? Not to nitpick, but this road map looks wrong. The helicopter is falling to higher btc prices? Is it a dollarcopter? If so, maybe it could be labeled as such, with a conspicuous dollar sign or something. Alternatively, the numbers could be arranged upside down, with higher numbers at the top. And gratz for heroing, vroom! Long due for a long time, no-nonsense WO member.
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tertius993
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February 18, 2021, 11:58:43 AM |
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How do you calculate 50k as “5x from the low”? That would make the low (after the last bull run) roughly $10k when it was actually more like $3k. Read El duderino_'s post with more attention Still think it makes no sense ... that tweet is attempting to overlay some pseudo scientific “5x” calculation to a purely emotional assessment and then makes no effort to justify it. But if talking purely about “sentiment” I think we’re actually well last that point - there was a massive flurry of MSM excitement a month or six weeks ago and now it seems incredibly quiet.
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d_eddie
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February 18, 2021, 12:03:12 PM |
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This reply of yours makes more sense, and you suggest "no" as an answer. Measuring sentiment is at the very top of SOMA arts study anyway.
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