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Messages - ABCbits

Pages: [1] 2 3 ... 27
1
News related to Crypto / 90% of Ethereum, Tron, Solana Stablecoin Transactions Are ‘Inorgranic Activit...
« on: Today at 12:39:31 PM »
90% of Ethereum, Tron, Solana Stablecoin Transactions Are ‘Inorgranic Activity’, Visa Says

Nearly all stablecoin transactions are tied to “inorganic activity,” according to payments giant Visa and enterprise blockchain data provider Allium.

The companies have launched a new data dashboard designed “to remove potential distortions that can arise from inorganic activity and other artificial inflationary practices,” and its adjusted figures reveal upwards of 90% of tracked transactions occur without human involvement... Read more here.


Visa's argument that transaction made by bot isn't organic somewhat makes sense to me. Although i also feel they said that since they want to reassure that Visa remain more popular option. Your opinion is greatly appreciated.

2
Crypto currency Mining / Re: Will gpu mining get good this year?
« on: Today at 12:28:08 PM »
Probably yes, but you're betting whether coin you mine could retain it's price or popularity. Looking at https://whattomine.com/, only few of profitable coins have fairly high trading volume.

Quote from: MrSpasybo on May 09, 2024, 12:18:36 AM
What I'm worried about is not the electricity price, but the price of GPUs as the AI trend is using up most of the GPUs on the market.

CMIIW, but doesn't AI trend only use enterprise GPU? That means miner could go after non-enterprise GPU.

3
Technical Discussion / Re: How viable is PoW for new coin?
« on: Today at 12:19:15 PM »
Quote from: Mr. Magkaisa on May 12, 2024, 02:43:17 PM
Furthermore, if scalability is the main issue, I believe POS is more appropriate in this case than POW.

Could you elaborate? After all, it doesn't affect how much block is created or maximum size of the block.

Quote from: NotATether on May 12, 2024, 05:35:27 PM
Just change the hashing algorithm for the new coin so that it is different from that of established coins. In other words you wouldn't want to do a sha256d and then someone who has racks upon racks of ASIC miners connects to your network and mines with all of them until the difficulty is so high that nobody can participate in it.

It mostly works, since most attacker are after financial profit. Although few people would argue it doesn't protect against troll who doesn't care about burning money.

4
Cryptocurrency discussions / Re: What do you think of crypto messaging apps?
« on: Today at 12:13:42 PM »
Quote from: MCcabe Rory on May 11, 2024, 05:46:26 PM
What do you think about crypto messaging apps? Can they really change the way we use digital assets, or are just there..

Those apps are in bad position. It's not popular enough to make regular people use it. It makes cryptocurrency enthusiast continue to use certain wallet software and use popular messaging app to let the receiver know they've sent the coin. I don't use Apple product, but it seems iMessage is one of very few application which successfully combine messanging and money transfer feature.

5
General Discussion / Re: Reason why people do not believe in mining
« on: May 12, 2024, 11:58:09 AM »
Quote from: yahoo62278 on May 11, 2024, 12:32:48 PM
Quote from: robelneo on May 11, 2024, 12:30:49 PM
--snip--
What cloud mining was legit? I have been around for a long time and every cloud mining site that has launched has always netted a loss including CCEX. They paid out, but you lost money due to difficulty and fees. They were all a scam IMO.

How about cex.io? IIRC it was first cloud mining and probably was most popular ones. I think you could buy or sell the hashrate anytime as well.

6
Crypto Exchanges / Re: How does exchange referral bonuses work?
« on: May 12, 2024, 11:52:55 AM »
1. Which exchange you're talking about?
2. Have you tried looking for this information using Google search? For example, using "okex referral" on google search leads me to https://www.okx.com/help/what-is-okx-referral-program which shows you could get mysterious reward along with it's terms of service.

7
Bitcoin Forum / Re: Halving - Do you still believe in the previous pattern?
« on: May 11, 2024, 12:05:23 PM »
It'd be great if it's true, but previous event doesn't guarantee future event. So personally i don't believe same pattern will always happen. And this chart analysis doesn't consider major event (such as SegWit activation and BCH hard fork on 2017).

8
News related to Crypto / Re: Trump Attacks Biden's Crypto Awareness, Says 'Biden Doesn't Even Know What It Is
« on: May 11, 2024, 11:54:14 AM »
I recall Biden sign or propose some regulation which related with cryptocurrency, so to me Trump is simply lying here. I understand why he did that since the other party create or propose regulation which restrict cryptocurrency usage or privacy, but it leave bad taste. And recently i just found out about Project 2025 which sounds very authoritarian, so i doubt Trump will respect privacy or self-custodian aspect of cryptocurrency.

9
Decentralized Exchanges (DEX) / Re: How Do you Become A VIP on Exchanges?
« on: May 11, 2024, 11:08:54 AM »
I feel you're not being specific enough, since your question could be answered by doing quick google search with search term "[exchange name] VIP". For example, https://www.binance.com/en/support/faq/how-to-become-a-binance-vip-473a8456403c438e902d7b3048e49eb6 mention 4 way to obtain VIP status where 3 of them isn't about total trading.

10
News related to Crypto / Re: FTX has billions more than needed to repay bankruptcy victims
« on: May 10, 2024, 10:31:32 AM »
Quote from: LogitechMouse on May 10, 2024, 03:19:43 AM
Quote from: Rruchi man on May 09, 2024, 06:31:37 PM
Quote from: ABCbits on May 09, 2024, 01:20:58 PM
It's unexpected good news, although i hope all of it actually goes to the FTX victim. After all, the victim gain some stress and spend decent time to fill report of their losses. Your opinion is greatly appreciated.
It is really unexpected, but are investors expected to regain trust in this exchange after they get reimbursed? I doubt.

There is no second chance to make a good first impression.
Most of those who lost their money will not regain the trust of the project anymore, but I still believe there are some stupid investors out there that will think "Oh, they gave us our money back, and everybody deserves a second chance. I will invest into them again." 100% sure of that. ;)

I'm not familiar with US regulation, but can a company which declare bankrupt decide to start it's business again? Anyway, i can see few people actually giving second chance rather than using different exchange with better history.

11
Cryptocurrency discussions / Re: Countries With The Highest Rates Of Crypto Ownership (Poll)
« on: May 10, 2024, 10:28:43 AM »
Quote from: Peter90 on May 09, 2024, 11:35:06 PM
Quote from: ABCbits on May 09, 2024, 01:19:58 PM
Although it's a shame the article doesn't mention how they obtain the number/percentage, which makes me question it's accuracy.
Although it's a shame some people can't read
--snip---

You're right, i stand corrected. Anyway, their methodology looks rather complex and they even combine 16 different report/survey. So at very least, i don't think they're faking the number.

Quote from: joniboini on May 10, 2024, 07:44:46 AM
I'm surprised Indonesia is not on the list considering how friendly the country toward crypto in general is. Makes me wonder how many P2P transactions happened here according to this research, and how many users own crypto according to it. Hard to imagine the number is less than 1 million users if I look at the transaction volumes on an exchange I follow closely unless they faked it.

The source (Triple A) mention Indonesia has 4.40% percentage.



Although when i clicked "View More", it shows page for 2022 version which is weird.

12
News related to Crypto / FTX has billions more than needed to repay bankruptcy victims
« on: May 09, 2024, 01:20:58 PM »
FTX has billions more than needed to repay bankruptcy victims

Bankrupt cryptocurrency exchange FTX has amassed billions in extra money to fully repay its 2 million customers, marking a new twist in bankruptcy proceedings.

Cryptocurrency exchange FTX which went bankrupt in late 2022 has accumulated billions more than it needs to cover losses incurred during its collapse in November 2022. In a commentary to Bloomberg, FTX CEO John Ray called the milestone an “unbelievable result,” signaling the exchange’s readiness to fully reimburse its over 2 million customers... Read more here.


It's unexpected good news, although i hope all of it actually goes to the FTX victim. After all, the victim gain some stress and spend decent time to fill report of their losses. Your opinion is greatly appreciated.

13
Cryptocurrency discussions / Re: Countries With The Highest Rates Of Crypto Ownership (Poll)
« on: May 09, 2024, 01:19:58 PM »
30.4% percent? It's crazy high and that means you could talk about cryptocurrency to stranger as conversation starter. Although it's a shame the article doesn't mention how they obtain the number/percentage, which makes me question it's accuracy.

14
News related to Crypto / Re: Geoff Kendrick: Second Trump Term Positive for Crypto
« on: May 09, 2024, 12:57:45 PM »
Recently i just found out there are many criminal cases charge against Trump. So this speculation might be worthless if judge decide Trump is guilty and receive prison time. And while i agree his 2nd term might rise cryptocurrency price, i doubt he'll ever plan to respect privacy aspect of cryptocurrency.

15
Technical Discussion / Re: Developers are debating resetting testnet.
« on: May 08, 2024, 11:16:13 AM »
Quote from: bitmover on May 07, 2024, 02:55:59 PM
I am not opposed to airdrops for people who test new projects, as this is somehow a work, like beta testers.

But surely you know those who claim airdrop usually only care about profit from selling token/coin they receive, rather than seriously test the project itself.

Quote from: yhiaali3 on May 08, 2024, 06:30:54 AM
The only reason I can think of is that they are using it to scam, is that true? Or are there other uses?

Scam is probably most common reason, although i expect few developer would rather buy tBTC rather than mining or ask from faucet which could take more time.

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