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Messages - ABCbits

Pages: [1] 2 3 ... 28
1
Crypto-related Sites / Re: Coinmarkatcap?
« on: May 18, 2024, 12:34:01 PM »
I have different opinion about this matters. I would recommend CoinGecko instead, especially for newcomers. It has more clean and less confusing UI with better coin/token categorization. CMC doing that badly, especially when categorizing privacy coins[1].

[1] https://www.altcoinstalks.com/index.php?topic=316407.0

2
BTPI Launches Study on Bitcoin’s Impact on Financial Freedom in Authoritarian Countries

The Brooks School Tech Policy Institute (BTPI) at Cornell University has launched a $1 million research project to explore the relationship between Bitcoin and financial freedom in authoritarian countries.

Led by BTPI Director Sarah Kreps, the research aims to understand how individuals use Bitcoin and stablecoins for financial security in these environments... Read more here.



While it's not started yet and we probably will see the result 2026, i find it's exciting news. After all, it's one of very real/important usage of Bitcoin. Although looking at institute's website, i also find they only focus on 12 country which is weird for me. Your opinion is greatly appreciated.

3
I do not read the bill itself, but overall it seems to be good news for Bitcoiner who live on Oklahoma. The news doesn't state about privacy though. Your opinion is greatly appreciated.
No need to read the whole bill as the news and the tweets give us almost all the information.
--snip--

You're probably right. But there's reason why idiom "The devil is in the details" exists. Although i don't see any news criticize this bill so far.

4
Crypto Wallets / Re: Best Ethereum Wallet with Lowest fee?
« on: May 18, 2024, 11:11:28 AM »
@Aanuoluwatofunmi is right. So you probably better ask "Which Ethereum Wallet let me configure TX fee rate manually?". I recall both MetaMask and Exodus let you do that under advance/custom option.
As far as I know, most crypto wallets have the feature of easily customizing fees according to user needs. Users only need to search for instructions and follow them to be able to save transaction fees when necessary. MetaMask, Coinbase, Blockchain, TrustWallet, SafePal... - users have many choices.

You're probably right, since i personally only tried few wallet software which support ETH. Although in few cases, those wallet might offer limited customization instead (e.g. choose between low, medium or high fee where it's fee rate already defined by the wallet).

The only case where users are forced to accept high fees is when using the Swap feature on the crypto wallets. These wallets often charge high fees to ensure the fastest possible user experience. Users of the Exodus Swap feature will understand this very well ^^

Yeah. Those wallet also do that to prevent wasted ETH due to too low gas fee.

5
I don't expect such statement come from some who supposed to be historian and philosopher. He can't even tell difference between distrust and better transparency/freedom which offered by Bitcoin. He don't even acknowledge reason why some people doesn't trust government so much.

6
Crypto Wallets / Re: Best Ethereum Wallet with Lowest fee?
« on: May 17, 2024, 11:55:13 AM »
@Aanuoluwatofunmi is right. So you probably better ask "Which Ethereum Wallet let me configure TX fee rate manually?". I recall both MetaMask and Exodus let you do that under advance/custom option.

7
It's a bit weird reading the right to self-custody of BTC as it's like a law giving you the right to stash fiat in your personal vault. Since bitcoin is already a capital asset and transactions are subject to Capital Gains Taxes, I think it's already implied that it's not illegal and you the right to store them in your non-custodial wallet.

I didn't think about that, but you're right. But at least, it would make Bitcoiner on Oklahoma  feel safer.

The most important part there is the legalization of Bitcoin mining.

But quick google search shows household electricity rate is above $0.1/kWh which isn't attractive for serious miner.

8
Many of you are likely aware of the Atomic wallet breach that occurred in June 2023, when over 100 million dollars was stolen from its users. Almost a year has passed, but the Atomic developers still haven't revealed what actually happened. May be they don't know at all.

And i speculate they want people to forget or give up about it altogether.

Consider this scenario: imagine an update is pushed to a software wallet with a malicious code. If hackers gain access to the update process or the wallet developer's infrastructure, they could inject malicious code into a seemingly legitimate update. Users who download and install this update could unknowingly expose their wallet's private keys or seed phrases to the attackers which would lead to loss of their funds.

This raises the question: can this happen with any software wallet? Does it mean we can't trust anyone?
This happened to electrum wallet last year or few months ago. That's the reason i don't update eventually my electrum and other wallet, unless a vulnerable was detected and was announced through their official social media handles, websites and some other news outlets. Other than that, i still do that practice more often.

Do you mean when malicious server send message to Electrum user to update their software from fake website? If yes, then it's somewhat different from Atomic Wallet case. Anyway, i agree not immediately update software could reduce risk mentioned by OP.

9
Oklahoma Passes Landmark Bill Protecting Bitcoin Rights

Oklahoma has made a landmark move by passing a bill to protect bitcoin rights. Governor Kevin Stitt signed the bill into law on May 13, 2024. Championed by Representative Samuel Brian Hill and Senator Coleman, the legislation establishes key protections for bitcoin and digital asset holders. Effective November 1, 2024, it ensures fundamental rights for individuals and businesses engaged in digital asset activities, positioning Oklahoma as a leader in the digital economy... Read more here.



I do not read the bill itself, but overall it seems to be good news for Bitcoiner who live on Oklahoma. The news doesn't state about privacy though. Your opinion is greatly appreciated.

10
I agree with him. 4% inflation per day is insane and AFAIK newly generated WLD coin going to world coin team. But it's not very surprising when they perform questionable privacy practice and hit by several law privacy.

11
The only conclusion from this news is, that they just want to show off that they can distinguish between organic and inorganic activities, but for what purposes, I mean what use of this data to them, I can't think of any benefit here, if anyone else can shed some light.

I think we can make guess of their purpose by reading their blog post on https://usa.visa.com/visa-everywhere/blog/bdp/2024/04/24/making-sense-of-1713984605043.html. Visa wants to say stablecoin is still far from reaching Visa's volume.

12
Using different DNS or encrypted DNS wouldn't help if that government very serious to perform censorship though. They'd just obtain list of IP owned by Twitter and ask ISP to block connection to those IP.
What do you mean by serious censorship? Are you referring to transparent DNS? As far as I understood it, encrypting your DNS (and changing it to other resolvers, not the one provided by our ISP) should allow us to hide the request to the website that we want to access. I've been using DNScrypt and it works fine to encrypt my DNS request, so I can visit blocked websites just fine.

When i said serious censorship, i simply mean more effort and resource to perform censorship. I also already provide an example, which is blocking connection to specific IP address.

13
Now it's just a question of how much truth there is in that, but even if we assume that 90% is a bit of an exaggerated figure

Looking at 2 filter mentioned on their website, i think it's safe the percentage is a bit exaggerated. If i understand it correctly, it exclude TX made by whale/rich people and short term/arbitrage trader who doesn't use bot.

But I don't know why the comparison here? I don't know why Visa cares about the volume of inorganic transactions on these networks? These networks are used for multiple different purposes and not for one purpose, while Visa is used for the purpose of payment only.

Have you read their blog post on https://usa.visa.com/visa-everywhere/blog/bdp/2024/04/24/making-sense-of-1713984605043.html? It's one of reason i said "Although i also feel they said that since they want to reassure that Visa remain more popular option.".

14
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.

15
Crypto currency Mining / Re: Will gpu mining get good this year?
« on: May 13, 2024, 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.

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.

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