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Messages - Stompix

Pages: 1 ... 34 35 [36] 37
526
Dogecoin Forum / Re: Dogecoin for Bull Run
« on: January 12, 2024, 12:59:06 PM »
Meme coins are more risk, because didn't have good project.
Better to buy the coins that have good project.

Good project...lol!
What "project" did Bitcoin promote? A 4 pages whitepaper that by today standards would be rubbish syce it doesn't talk once about making money!
Doge and Litecoin with no "project" have survived and have been adopted by more users than thousands of coins that corm with fancy projects!

Every time I hear some coin promoter bragging only about things in a virtual roadmap I know it's going to suck an fail spectacular in the end.
Dogecoin has an USERBASE and this is far more important than any "project"

Because I think I agree with  you, Meme coin is just for FOMO.
really short term...

Dogecoin is 10 years old  ;)

527
About making a transaction with 1 satoshi, it is not correct because with Bitcoin on-chain transactions, there are limits (minimum) for transactions, to avoid dust attacks.

Depends on address and transaction types, the minimum is different but it is about 330 - 546 satoshis at least.
Legacy addresses: 546 satoshi
Native Segwit addresses: 294 satoshi
Taproot addresses: 330 satoshi

Not entirely true, he could send zero satoshi as long as he pays the fee by using OP_RETURN  ;D
50e432f59b748e8a6c7a3dffe79b203b559dcdd41b5f5d5aee709dfdd3abd547

The person that sent the bitcoin to that address is just up to something or wants to see the reaction of the market to that.
I think the guy is just looking  for a recognition

How is he looking for recognition since he has kept staying anonymous days after the transactions hiding and not reveling who he is?

528
Bitcoin Forum / Re: Which Countries Are Most Interested in Bitcoin ETFs?
« on: January 11, 2024, 09:01:02 AM »
That is indeed very surprising. I thought people of US would want Bitcoin ETFs to approve the most. but again what are the basis of this report? is that based on common people's point of view or govt?

No, it's some lazy ass article that claims to be somekind of research when it's just copy paste numbers.
It's based on google trends, so the first bias here is that google is not used in the same percentages by every country, it has different demographics and age gaps, and even in the same category some , like a lot of people who are about privacy use alternatives.
Second, google trends is not an indicator of a majority searching for this, it's about a thing that breaks out of the normalized data, a 100 shows that increase searches compared to previous results, so a country with 100 trend now might actually have a way lower percentage of interest than a country with a normalized 50.

St Helena on top (popualtion 5000) is  dead giveaway on how inaccurate those are, just two three people searching a week after nobody has done so would raise it in the top.

because if that report is about Govts of these countries then that actually make sense. US Govt is really hate Bitcoin and Cryptocurrency. they are like main villain of Crypto.

Sorry bu this is BS!
If the US government would hate that then you wouldn't have these:
- 11 ETH aproved
- highest hashrate for Bitcoin and largets bitcoin mining pool
- largest cryptocurrency cold storage porived being based there
- biggest number of Bitcoin ATM in the world 2 times more than the whole worlds combined
- the most nodes, both Bitcoin nodes and Lighting network nodes hosted on US based services
- insane amount of business accepting Bitcoin, see the map here

How would these be possible if the govemermnt would hate crypto?

529
What advice do you have for beginners who want to invest?

Never put more money in an investment than you can afford to lose!

If there would be a way to find genuine projects, run by real experienced people, who have no plan of dumping the coin, to identify a projects that will get traction and have a positive response from the masses, that behind it is management team that has a way to avoid every risk, every failure, then let me tell you something, a guy with this capacity of doing research and predicting things won't waste his time with coins  ;)

Remember that 90% of all start-ups fail, it's not like there is some magic plan that will guarantee something succeeds, there are totally legit business, that have no incentive to scam, that are burning the founders money to keep running, who's members put everything in it and still fail, that's the reality, no way you're going to predict the future of a project by reading 4 pages of a whitepaper.

530
About PoW network, you can use this https://howmanyconfs.com/ for estimation of how many PoW altcoin confirmations are equivalent tô Bitcoin confirmations.

That's a really biased way to express security by power consumption, you would till need 100k L7 to do a 51% attack and it's highly unlikely that much gear will ever be available on the market. Besides this thing:
Quote
SHA-256 @ 556,427 PH/s = 16 GW
is invalid if we think S21, a 200th/3.5KW the figure above becomes 9.73GW so suddenly the network is half less secure?  ;D

There are many options in which altcoins have low withdrawal or transaction fees if this is not for transferring funds from exchange to exchange I suggest use Dogecoin.

I'm surprised the majority isn't pointing at doge, it's the cheapest one, it's damn fast and most importantly is also widely accepted, plus unlike stablecoins you're at no risks of getting your coins frozen out of nowhere.
Anyhow, I would like to point out another thing:
Bitcoin fees are way DOWN right now since December 26th, next block fee is just 30sat/vb.

531
I don't think the long confirmation is because miners reduce their activity though, since the hashrate is still quite strong.

Of curse it hasn't, these are the growth in difficulty (also hashrate) since the new ordinal madness started in October

Quote
824,544   2024-01-06 02:41:32   73,197,634,206,448 - 73.20 T   + 1.65 %   0x1703d869   09 min 50 s   523.83 EH/s
822,528   2023-12-23 08:04:24   72,006,146,478,567 - 72.01 T   + 6.98 %   0x1703e8b3   09 min 21 s   515.36 EH/s
820,512   2023-12-10 05:57:24   67,305,906,902,031 - 67.31 T   - 0.96 %   0x17042e95   10 min 07 s   481.18 EH/s
818,496   2023-11-26 02:16:03   67,957,790,298,897 - 67.96 T   + 5.07 %   0x17042450   09 min 31 s   486.35 EH/s
816,480   2023-11-12 18:24:33   64,678,587,803,496 - 64.68 T   + 3.55 %   0x17045a12   09 min 39 s   462.95 EH/s
814,464   2023-10-30 05:53:23   62,463,471,666,732 - 62.46 T   + 2.35 %   0x17048194   09 min 46 s   447.06 EH/s
812,448   2023-10-16 14:32:45   61,030,681,983,175 - 61.03 T   + 6.47 %   0x17049ca9   09 min 24 s   436.89 EH/s

a 25% increase in total in two months, might no sound much but in terms of energy it's the equivalent of 3.5GW, for comparison the total installed production capacity of Salvador is 2.3 GW.

I believe miners won't stop just because the difficulty is increasing steadily, as long as they can keep making some profits.

Miners stopping would make the difficulty go down anyhow so this would be something impossible.

Transaction confirmations are more about the fees you paid rather than a +/- 5% faster slower blocks in a two week period.

532
Dogecoin Forum / Re: Dogecoin Targets to hit $1 on Dogeday?
« on: January 10, 2024, 12:58:58 PM »
Elon Musk is a famous man and one of the richest men in the world and very popular. 

Popular as Taylor Swift popular ? No! Popular by becoming on of the most hated persona outthere, yeah!

He has slowing become hated by every group out there on different levels, the fudged everything with politics, his management over twitter, and not to mention he had a part in the BTC price crash when Tesla sold part of its Bitcoin investments! Add the whole thing of stopping BTC payments and the drama with the energy consumption and it gets darker and darker.!
Rather than a drive behind the coin Musk is slowly becoming a liability!

Price pump and dump of altcoin is not usually predictable, but for dogecoin, I think one day the price will surely climb to $1-$2.

And where are the 200 billions going to come from?
Also, some really forget one thing, Doge is inflationary, every year it adds 5 billion doge to the supply, at 2$ per coin that's 10 billion every year, or the equivalent for the current market cap every year!

533
It seems that the rise in Bitcoin prices in Q4 of 2023 and the increase in fees in that period, which reached an average of 1.5 Bitcoin as additional profits from transaction fees per block, encouraged them to continue in more investments, especially with expectations of a decrease in the interest rate, an increase in the price of Bitcoin, and an increase in fees.

It's easy to play this way when it's not your money but some guys throwing money at your company.
And speaking of cipher alone:
https://investors.ciphermining.com/news-releases/news-release-details/cipher-mining-purchases-11000-new-mining-machines-canaan-inc
they were buying nearly the same amount of gear back in may when the price was half of this!
This decision alone (the December one) was probably taken well before we saw the spike in prices.

All of these things will make this year is an ideal year for mining companies, and their shares will rise strongly.

Not so sure about that.
Income per th/s is at 8 cents , in 2021 it was above 20 cents for the whole year with months over 30 cents.
Even 2022 had period of well above 10 cents.
For 2024 to beat 2022 after the halving we need prices around 100k, for it to beat 2021 we need...almost 500k!
Of course it goes lower because of more efficient gear so cost per th/s is lower but electricity is up so it's kind of a balance.

534
As the first week of 2024 concluded, Bitcoin’s hashrate shattered another lifetime high on Jan. 6, achieving an unprecedented 549 exahash per second (EH/s). Though the hashrate dipped post-Dec. 25, 2023, falling from 546 EH/s to a low of 510 EH/s, it rebounded amidst a declining hash price and an intervening hike in difficulty.

Hashrate growling one day and going down the other has nothing to do with any economics, it's just about luck.
That difference of 36 exahash is the equivalent of 300 000 S19 or 600 million in gear or 900MW (a nuclear reactor) of energy being turned on and off.
The daily hashrate is calculated from the blocktime and with this being random you get random results:
https://bitinfocharts.com/comparison/bitcoin-confirmationtime.html#3m

What matters is what we have after an epoch, and the last difficulty adjustment on the 6th said 73,197,634,206,448 that's 523.83 EH/s!
Thinking that miners could switch on and off 40-50 exahahs of hash every day is just...

Do you think they will start shutting down their mega-mining farms like before? I remember how it was last time and the transfer of bitcoin could take a very long time,

When did that happen? 
Even if 90% of the mining farms will shut down once the adjustment kicks in the normal blocktime of a block 10 minutes will kick in again.
For a constant loss of transactions capacity you will have to have constant loss of mining power every two week, so 10 of miens to quit this week, then again 10% then again and so on, and the moment you have a two week interval nobody quit the transaction capacity is the same.

535
Maybe you won't believe it, but every trader, even the best ones, was new and beginners at some point.

Of course they were that's why this advice it's a bit weird!  ::)

How to you stop being a beginner in something if you never start doing it in the first place?
Everyone is a beginner in something, trader, gambler, nurse, construction worker, astronaut you name it, everyone had a time where he had no experience but he tried it.
Imagine how the world would look if we make a rule like nobody who hasn't operated on a human before is allowed to operate on one, in 40 years from now there will be guy able to do a surgical interventions!

A more down to earth advice would be to not try to trade more than coffee or cigarettes money while you still don't know what you're actually doing, but keeping away from trading completely will make you one forever newbie!

536
I think miners or some groups  are just trying to spread false information on the miners revenue, the money they have generated from the fees from BRC 20 tokens and this price recovery is enough for them to have recovered.

Why do you jump to a conspiracy theory that has no basic and would obviously not do anything good for the so called malicious party involved, as an article screaming low income won't suddenly make it big and not blame the easiest and most logical explanation, crappy journalism?
You have someone who needs to write articles per quota and he needs to make clickbait's story even if nothing ever happens, so, pretty obvious what happened here, nobody didn't had news to write about so he made some news!

Therefore, although the problem of high fees will be solved,

Temporarily, getting rid of ordinals won't create space for 10 million wanting to make an on-chain payment, the problem will be "solved" because ironically enough we don't have enough users to clock the blockchain naturally, so it's a bit of bad and good news mashed together!

537
Bitcoin Forum / Re: BTC failing as a payment method
« on: January 02, 2024, 01:47:50 PM »
BTC not failing as a payment system and this time so many people are investing their money in the crypto market they send and receive the payments in seconds and this payment system is very cheap. BTC is the best and good payment system than the bank and i use that because it is so fast and secure.

Sending and receiving payments in seconds?
How would that be even possible when as I speak no block has been mined for 11 minutes, nobody in this interval has received and sent money in seconds!
As for very cheap, it might be cheap for an international wire transfer but in the same country everything beats its, even if you have a 1 input 1 output tx it's still $5 for a transaction, try to that for every day as you do with normal payments systems and see how that works for your budget!

Since you said you're using it, how much did you pay in fees? Common, let's mare a comparison!!!

538
Username: Stompix
BTC SegWit Address: bc1q5wlj8t8pjp6qsmdphstfee5d3lvg9f25yw7mmj

539
I believe the couple may face some punishments if they don't settle a deal with the company whose electricity they were stealing to run their mining operations.

No, it's s civil case!
They lose then they have to pay what the damages the electric company can prove the theft inflicted, nothing more.
Since the company went directly for such a dispute they face no prison time and they will basically just have to pay for the power they used, no way this can be called a severe punishment. More like a slap on the wrist , and a little small one, done with a feather!

540
What past 6 months are you talking about?

Perfect example of crappy journalism from bitcoin.com

So the article quotes this article:
https://www.banklesstimes.com/news/2023/11/24/bitcoins-miners-revenue-plunge-by-34percent-in-6-months/
which quotes as a source:
https://dune.com/queries/2057738/3404196

Which surprisingly, shows completely the opposite, both November and December are record level income for miners since April 2022.
Furthermore the last year end was a disaster, with income levels not being that low from 2020!

Revenue for the month of November also declined the most, reaching approximately $17k less than October's revenue.

How would that be even possible with October's price being around $27k vs November averaging $35k?
Like seriously, how?







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