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Messages - ABCbits

Pages: [1] 2 3 ... 29
1
I agree that nothing is perfect. That's why I asked what additional steps can be taken to further secure crypto assets.

So many member already mention that. If you think those aren't enough, how about using airgapped/cold wallet? Here's a brief guide on how to do it with Electrum wallet, https://electrum.readthedocs.io/en/latest/coldstorage.html.

2
Using CEX or other custodial staking platform is good when we're talking about convenience. But i'd rather consider non-custodial staking pool, where i can get the reward while keep ownership of the coin. Although popular coin (such as ETH) usually have low return rate these days.

3
At least for this assumption, i would use report from https://bitcoinminingcouncil.com/. Their report state estimate almost 60% of electricity for Bitcoin mining comes from sustainable source. Although it's a shame they haven't released new report in a year.
Hi ABC
sustainable source or not, it doesn't matter.
Even if BTC mining electricity comes from sustainable source, they'll keep saying that BTC mining causes outages and drives price up.
I'm countering that argument.

--snip--

Yes, i can see they'll just use different excuse. But IMO it still matters that they have less excuse and mining business would look somewhat better to different kind of people.

4
Their first project is to defend the founders of Samourai Wallet, which may not give a good impression, especially to legal authorities that can be influenced.
I also worried about that, especially when the founder advertise their service to avoid sanction. There are other less controversial case they could take, such as defending Uniswap for SEC sue.
There is nothing controversial about raising funds to defend somebody in court. In fact, even sanctioned funds can be used to pay for lawyers and other legal expenses that the people controlling said funds happen to be in (at least in the United States).

I'm not sure whether i write earlier sentence poorly or we have different definition of controversy.

COPA made a huge fuss about funding Hodlonaut when Craig Wright was trying to sue him into oblivion and look at the result. It was worth it, no?

You're right, although supporting COPA isn't really controversial when most people perceive CSW as liar, fraud or incompetent.

5
First of all, i think this thread should be posted on "Incentivised Posting / Shill" board instead. Secondly, those who fell into scam probably shouldn't blindly trust someone else. After all, scam in form of recovery or help service also exist.

6
Their first project is to defend the founders of Samourai Wallet, which may not give a good impression, especially to legal authorities that can be influenced.

I also worried about that, especially when the founder advertise their service to avoid sanction. There are other less controversial case they could take, such as defending Uniswap for SEC sue.

7
Bitcoin Mining / Re: BTC mining is good for society & environment
« on: May 22, 2024, 11:59:17 AM »
- Production of electricity damages the environment.

At least for this assumption, i would use report from https://bitcoinminingcouncil.com/. Their report state estimate almost 60% of electricity for Bitcoin mining comes from sustainable source. Although it's a shame they haven't released new report in a year.

8
Bitcoin Policy Institute Launches Fund To Protect Non-Custodial Tools From Regulatory Challenges

The Bitcoin Policy Institute (BPI) has launched its Peer-to-Peer Rights Fund to safeguard the decentralized, peer-to-peer integrity of the Bitcoin ecosystem.

The fund aims to defend non-custodial tools and their developers from regulatory overreach to ensure innovation, privacy, and user autonomy... Read more here.



Their goal is rather important, especially after Tornado Cash developer got jailed recently. I'm not very familiar with BPI though, but it seems they previously only focused on research. Your opinion is greatly appreciated.

9
Bitcoin Forum / Re: Joinmarket.net (discussion) experience?
« on: May 22, 2024, 10:35:25 AM »
Does anyone have personal experience with Joinmarket or at least experience from a reliable source?

I can't access the website, so i assume you're talking about this JoinMarket https://github.com/JoinMarket-Org/joinmarket-clientserver. Personally i haven't tried it yet, since it's not very user-friendly. It also require you to run full node, so i expect almost none of us actually have actual experience with it.

After the departure of Samurai and Wasabi wallets from the Coinjoin feature, Joinmarket seems to be the only remaining "free" option.

You might want to https://joinstr.xyz/, although it's still in development and not ready for mainnet.

10
Crypto currency Mining / Re: Will gpu mining get good this year?
« on: May 22, 2024, 10:20:21 AM »
CMIIW, but doesn't AI trend only use enterprise GPU? That means miner could go after non-enterprise GPU.
Large AI companies' data centers use Nvidia enterprise GPUs that cost tens of thousands of $, such as the H100 Tensor Core which costs $40K. Of course, these GPUs are not in the sights of crypto miners, or at least I have never known anyone to use enterprise GPUs for their mining farms.

However, the demand for AI comes not only from large companies, but also from ordinary users. For example, the Nvidia GeForce RTX is popular for computers focused on AI features for users, which can deplete the supply of GPUs on the market and drive up GPU prices and increase miners costs.

That's good to know, although i wonder how many regular people buy customer GPU just to use AI feature. I recall news which state new Intel CPU optimized for AI task, which means those people doesn't need to buy dedicated GPU.

11
He's probably right, as we've seen few threads about Peter Schiff (including this thread). And while there are risks involved when investing on Bitcoin, it's clear he usually exaggerate about the risk itself.

12
Technical Discussion / Re: Which blockchains are the fastest?
« on: May 21, 2024, 01:19:25 PM »
Initially i thought you're talking about confirmation time (how fast transaction included in a block), but i was wrong. Anyway, i'm surprised that Bitcoin doing good in terms of TPS when there are so many altcoin which promise high TPS or block size.

What do you think, how important is speed and what does it mean for the future of each blockchain?

Some blockchain definitely benefit from higher TPS capacity, especially ones which various usage (e.g. token/NFT creation). Although we shouldn't forget many coin have L2 or sidechain network, where we could keep using "same" coin.

13
I'm not sure the owner actually accidentally send Bitcoin to wrong address. After all, you need to copy Satoshi's address from certain place (e.g. news or article) and exchange usually require you to double check/verify whether you actually want to perform withdraw. And when i decide to verify the actual amount, i find it's weird that currently 3 block explorer showing 3 different amount.

https://explorer.btc.com/btc/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa shows 99.98853451 BTC.
https://www.blockchain.com/explorer/addresses/btc/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa shows Bitcoin Balance 99.98849842.
https://mempool.space/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa shows Balance ‎49.97855575 BTC, which probably exclude mining reward from genesis block.

14
National security risks is really overused excuse to arrest someone or stop someone from doing something they don't like. ASIC designed only to mine cryptocurrency with specific algorithm. How can ASIC affect U.S. military installations? It doesn't make sense.

15
Maybe they should also go into the details on how people in these countries are able to get into Bitcoin and how they gonna be converting them into their national currency since am sure there can be restrictions on popular cryptocurrency exchanges operating overseas to enter their countries

Good point, it would be interesting to read. Although i expect some of them either,
1. Perform P2P exchange between member on local cryptocurrency community.
2. Use foreign currency or bank service, assuming their country isn't under economic sanction.

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