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Showing 20 of 1,049 results by Khaos77
Re: 21 million is it just a pointless number and nothing to do with scarcity?
It would be a pointless number if each satoshi is equivalent to 1 USD and it isn't so your point is invalid. A supply cap like the 21 million bitcoin has something to do with scarcity, because if they can't add more into the supply, the lowering of it will only make the price increase which is scarcity.
Most people don't understand how division can increase supply.
Here it is.
if Bitcoin can only be divided by 1,
then
21 million BTC / 1= 21 Million BTC tradable supply, which you could claim scarce
but the problem is the division is not limited
21 million BTC / .5 = 42 Million BTC tradable supply
21 million BTC / .25 = 84 Million BTC tradable supply
Now lets look at a satoshi 8 places to the right of the decimal
21 million BTC / .00000001 = 2.1 Quadrillion BTC tradable supply
Now while the number on the left did not change, the total Tradable Supply increases dramatically.
Exchanges have 9 places to the right of the decimal for some trading pairs.
Lightning Network has proposed 12 places to the right of the decimal.
They can inflate the tradable supply units to an unlimited number all the while claiming bitcoin is scarce because the number on the left won't change, but their ever increasing division number is changing so it is increasing the supply, but they think you are all too stupid to figure it out.
And for the few that brought into the nonsense that division can't increase supply, I suggest you get out an old biology book,
https://en.wikipedia.org/wiki/Cell_division
Quote
Cell division is the process by which a parent cell divides into two or more daughter cells.
Re: 21 million is it just a pointless number and nothing to do with scarcity?
This one is more accurate, Greg.
https://www.youtube.com/watch?v=0BZoKH-hX_o
Why Blockstream Destroyed Bitcoin
But feel free, spend a boatload of fiat on a inefficient heating setup that will never mine a single coin,
be sure to post pics , and make false claims about how great PoW mining is for you.
We look forward to your pics , and the final result of that stupid idea smacking you and your wallet around.
Go ahead.
be sure to post pics , and make false claims about how great PoW mining is for you.
We look forward to your pics , and the final result of that stupid idea smacking you and your wallet around.
Go ahead.
FYI the purpose of the heat pump is not to mine coins but to heat your home and your water.
I'll give you a nice example of how this could come in handy from my own recent experience. My friend has a house in one country, but moved to another before the pandemic and had trouble coming back for winter, so he decided to stay at his girlfriend's place for a few months. I got a call from him a few days back to check on the house and it appears he had a flood because it got so cold in there the pipes froze and burst (the temperatures went down to -20 this winter which is pretty rare. Last winter we maybe had -5 outside tops and his house was fine). So if he had a mining rig in there he'd be able to get some coins for free and keep the house warm.
Have you ever mined, I did in 2013.
Even then , I made more money selling the mining equipment than I did from mining.
So I can tell you from personal experience , you won't mine a single coin.
But feel free and waste your money if you like, it just a shame that so many of you promote things that are just going to waste other people time and money.
Dude,
Heat Pumps or even those little heaters are more efficient at heating you home than the nonsense above.
Don't waste your time with crypto mining, it is a waste of your time and energy.
Only the rich actually make money off mining, the rest just waste their time.
Heat Pumps or even those little heaters are more efficient at heating you home than the nonsense above.
Don't waste your time with crypto mining, it is a waste of your time and energy.
Only the rich actually make money off mining, the rest just waste their time.
You're a fking moron.
No , You're a Fucking Moron.
But feel free, spend a boatload of fiat on a inefficient heating setup that will never mine a single coin,
be sure to post pics , and make false claims about how great PoW mining is for you.
We look forward to your pics , and the final result of that stupid smacking you and your wallet around.
Go ahead.
Dude,
Heat Pumps or even those little heaters are more efficient at heating you home than the nonsense above.
Don't waste your time with crypto mining, it is a waste of your time and energy.
Only the rich actually make money off mining, the rest just waste their time.
Heat Pumps or even those little heaters are more efficient at heating you home than the nonsense above.
Don't waste your time with crypto mining, it is a waste of your time and energy.
Only the rich actually make money off mining, the rest just waste their time.
You're judging without reading. That guy in the article has a heat pump!
He's using mining cards to preheat air that goes into the heat pump and make it draw less power.
"Only the rich actually make money off mining, the rest just waste their time."
Noone should even listen to him. Listen to how he speaks, he is making claims as if they are well thought out and tested thoroughly. I bet a pretty penny he has never mined in his life. You do not need to be super rich to mine you can mine with a single computer. If you buy a very expensive GPU you can easily make $5+ a day and still play games with the same pc. Now picture buying 6 of those on all the time? It's just very risky and scary that's all.
"Don't waste your time with crypto mining, it is a waste of your time and energy."
I like to waste my time and energy xD
"Heat Pumps or even those little heaters are more efficient at heating you home than the nonsense above."
Who taught you about heat? Did you learn this at school? Wattages creates heat. Anything with high wattage gets hot. Have you even tried being in a room with miners in it? I bet you havent. I have stood in a room with 8 GPU units in it and it was pretty warm. During the summer or hotter days its boiling and you need to run a few aircoolers. Even 1 GPU can warm the area around you.
OK, all people dumb enough to follow the above nonsense,
be sure and post how much time and energy and money you wasted following the stupid ideas.
But never say you were not warned.
Dude,
Heat Pumps or even those little heater are more efficient at heating you home than the nonsense above.
Don't waste your time with crypto mining, it is a waste of your time and energy.
Only the rich actually make money off mining, the rest just waste their time.
Heat Pumps or even those little heater are more efficient at heating you home than the nonsense above.
Don't waste your time with crypto mining, it is a waste of your time and energy.
Only the rich actually make money off mining, the rest just waste their time.
Some people says raising Bitcoin block size hurt decentralization because it increases cost to run a full node. Bitcoin block size limit remains at 1MB 4 million weight units in past few years, while hardware and internet continue growing. The growth could be higher speed, higher efficiency or lower cost. With that in mind and ignoring other factor (such as blockchain size growth, hashrate distribution and total of full nodes), does Bitcoin become more decentralized over time?
P.S. This is just my shower thought, so obviously it has flaws.
P.S. This is just my shower thought, so obviously it has flaws.
You have to do nothing , but observe the past ~11 year history of bitcoin.
Blocksize is irrelevant in the discussion.
Centralization is and already has occurred , limited mining pools only 3 or 4 have over 51% and have had over 51% for years.
The second ASICS were invented and the little guy was pushed aside, decentralization died.
The global currency is the one that facilitates cross-border trade, including investment and international debt markets. Global central banks hold foreign exchange currencies to protect against significant fluctuations in exchange rates, as well as in exchange rates. I think we are a long way from when Bitcoin will be able to do that.
If you look at bitcoin it is probably the best currency to replace any dominating currency for international trade and the only negative aspect you can tell is the high volatility and you cannot expect a currency to have really huge volatility and the traders will not trust anything that changes the valuation in a short period. If we overcome all those negatives then bitcoin could be a good alternative.Bitcoin is a failure at transaction capacity because the core devs have limited it.
You can buy a $20 meal with the US dollar and not pay any transaction fees.
Bitcoin , you have to pay $20 plus a transaction fee of $5 to $20 dollars, only morons will do that.
US dollar has unlimited transaction capacity without paying a miner's variable transaction fees,
Bitcoin can't replace any fiat currency in it's present pitiful state.
Yes Numb nuts, in the virtual world more pieces does increase supply.
One Bitcoin division by .25 means their are 4 tradable pieces.
One Bitcoin division by .00000001 means their are 100000000 tradable pieces
That is a increase in tradable supply of 99999996 pieces that can be sold or traded.
One Bitcoin division by .25 means their are 4 tradable pieces.
One Bitcoin division by .00000001 means their are 100000000 tradable pieces
That is a increase in tradable supply of 99999996 pieces that can be sold or traded.
Let's pretend for a second that the US Government were completely insane and tried to do what you described.
US Government, will outlast you, so I suggest you quit worrying about them.
As far , using Division to increase supply,
you have to look no further than Lightning Network which is planing to allow 12 places to the right of the decimal instead of the standard 8.
Plus you already have some exchanges offering 9 places to the right of the decimal in the trading of some alt pairs.
So as usual, your fantasy world and reality have very little in common.
Might I suggest you just go cuddle with WindFury/Tman and quit interrupting the grown-ups when we are talking with your lack of understanding.
It is already well established that division does not create more of something.
FYI: Simple Math for you.
1/½ = 2 smaller pieces of the original amount
1/¼= 4 smaller pieces of the original amount
1/.00000001 = 100000000 smaller pieces of the original amount
1/.000000000001 = 1000000000000. smaller pieces of the original amount
See there, division does create more. if you're a numerically illiterate fuckwit
FTFY
More pieces does not mean a larger quantity. Were you educated at all?
If you can't understand your own simple math or what the quotients of your rudimentary formulae represent, then maybe you should go back to school (unless, of course, you are in fact a schoolkid of below-average intelligence, in which case you need to try harder in class).
It is a wonder , that you can tie your own shoes.
Yes Numb nuts, in the virtual world more pieces does increase supply.
One Bitcoin division by .25 means their are 4 tradable pieces.
One Bitcoin division by .00000001 means their are 100000000 tradable pieces
That is a increase in tradable supply of 99999996 pieces that can be sold or traded.
It is a shame you are just too fucking stupid to comprehend reality or math.
I've seen you make some stupid posts before, but this one truly is special. You really must be running out of arguments if this is the straw you're clutching at. The infinitesimally small chance of this happening aside, there will never be enough bitcoins to back all the money they keep printing.
Considering history is something you always been clueless too.
The fact that the US Government seized gold in the 1930s is beyond your limited understanding.
Physical gold is far easier to seize than something like a seed phrase when employing encryption to its full potential. I could disguise my private keys within images or other media and send them to any corner of the planet I choose. Anyone who has had their BTC confiscated simply wasn't taking all the precautions they could have taken.
You seem to miss the point, that if you locked up in jail , you will give them what they want.
You one of the nutjobs that think encryption will protect you , until they hit you with a wrench,
Also your failure to understand the number of bitcoin is not limited at all.
Bitcoin is inflated to the right side of the decimal so fools like you think their is a limited supply.
Bitcoin is inflated to the right side of the decimal so fools like you think their is a limited supply.
It is already well established that division does not create more of something.
Oh Dumbmad,
When One biological Cell Divides, after the division their are TWO.
Just because your limited mind can't comprehend bitcoin supply is increased by division does not change the reality, that it is.
Whether Bitcoin existed or not, the Dollar will end the Dollar's reign. 
Fiat currencies don't last forever. They can't. With all debt-based money, eventual failure is an integral part of the recipe. It's just how they function. Some last longer than others, but they will all approach worthless at some point.
Fiat currencies don't last forever. They can't. With all debt-based money, eventual failure is an integral part of the recipe. It's just how they function. Some last longer than others, but they will all approach worthless at some point.
And if the US Government Seizes all bitcoin of all US citizens, and then backs the US $ with it,
then your conclusions of the dollar demise are void.
I've seen you make some stupid posts before, but this one truly is special. You really must be running out of arguments if this is the straw you're clutching at. The infinitesimally small chance of this happening aside, there will never be enough bitcoins to back all the money they keep printing.
Considering history is something you always been clueless too.
The fact that the US Government seized gold in the 1930s is beyond your limited understanding.
Also your failure to understand the number of bitcoin is not limited at all.
Bitcoin is inflated to the right side of the decimal so fools like you think their is a limited supply.
By having Bitcoin at 8 decimal places to the right of zero, this give the current bitcoin a 2.8 quadrillion supply of bitcoin not the 21 million supply that a moron such as yourself believes. In addition, moving even further to the right inflates bitcoin supply as moving to the 12 decimal place to right of zero (like LN is doing) increases the bitcoin supply to 28000 quadrillion supply.
Whether Bitcoin existed or not, the Dollar will end the Dollar's reign.
Fiat currencies don't last forever. They can't. With all debt-based money, eventual failure is an integral part of the recipe. It's just how they function. Some last longer than others, but they will all approach worthless at some point.
Fiat currencies don't last forever. They can't. With all debt-based money, eventual failure is an integral part of the recipe. It's just how they function. Some last longer than others, but they will all approach worthless at some point.
And if the US Government Seizes all bitcoin of all US citizens, and then backs the US $ with it,
then your conclusions of the dollar demise are void.
what is behind the dump which is in progress last couple days ?
I know its volatility , but comparing to last couple months its quite bigger
Cheers
People taking a FIAT profit ,
because their is a fear (not unreasonable) that the price of bitcoin and crypto is about to tank.
So people not members of the bitcoin cult are cashing out.
Because at the end of the day, the majority of purchases are in fiat not cryptos.
From what I've read, Bitcoin now charges high transaction fee and long transaction wait time so it can't presently be used:
a) for a conversion from Bitcoin to cash?
or b) purchases using Bitcoin?
a) for a conversion from Bitcoin to cash?
or b) purchases using Bitcoin?
That is because the bitcoin dev team refused to increase onchain transaction capacity.
If you actually need to transfer coins at decent prices, use Doge or LTC both work great.
It seems most bitcoiners prefer cold hardware wallets over online platforms but why is that? Considering platforms like coinbase are FDIC insured and have the best security in the business, it seems much riskier to try to secure my bitcoins on my own. I feel my house burning down or some other accident destroying my wallet is much more likely than losing it on Coinbase. And if there is a breach in coinbase, I get it back... so what am I missing?? While I’m not new to owning bitcoin, I am new to learning about it. So I apologize if this is an annoying newb question.
Coinbase only insures the % , they have in hot wallets, which is ~2% of the total they control.
The rest is in cold wallets that , that are not insured.
If you store funds with Coinbase, you are trusting their people to keep the coins secure.
If you keep your own wallet, they you are trusting yourself to keep the coins secure.
The problem is , most people, are not ready for a fire , flood, or even a simple thief that gains physical access to their home.
They may not even be ready if the hardware wallet fails. Or they may store their recovery phrase in a easy place for a criminal to discover.
You take risks either way, your decision is deciding whom do you think is going to better protect your coins in the long run.
* Not to mention if you die, your decedents can probably get access to your coins on coinbase by using your will and a court order,
while a cold wallet, where no one but you has access will be lost to them. *
Re: Bitcoin is not serving its purpose ANYMORE transfer waiting 48hr even paid high
Hello,
I was made a transfer yesterday
https://www.blockchain.com/btc/tx/c2f026d881fb1e927918f6dbb699636e4fc4591623ceadac80c09a1db07fc03b
I paid high fee:
Fee
$29.26
(176.366 sat/B - 44.091 sat/WU - 339 bytes)
But still didnt get confirmed.
Wasn't the purpose of bitcoins fast money transfer with appropriate transfer fees?
I was made a transfer yesterday
https://www.blockchain.com/btc/tx/c2f026d881fb1e927918f6dbb699636e4fc4591623ceadac80c09a1db07fc03b
I paid high fee:
Fee
$29.26
(176.366 sat/B - 44.091 sat/WU - 339 bytes)
But still didnt get confirmed.
Wasn't the purpose of bitcoins fast money transfer with appropriate transfer fees?
Bitcoin sucks at fast transfers and has high fees on top of that.
For Fast Transfers use LTC or DOGE.
Re: OMG !!!!! You BitCoin people were right. I wish I had bought back in March :(
You’re confusing me!
, Considering you used to go by the handle TMAN in these forums, it is no wonder you are confused.
Is that your only way to make people believe you, or make me stop from talking back at you, and calling out YOUR LIES? Accuse me of multi-accounting? Then report me to the mods. GO!
Plus why can’t you answer, which is the best coin, Dogecoin, Bcash, or Bcash SV?
No worries TMan,
I give you answers for your immature mind.
But the answer depends on the question, which you did not go into detail (Best in What).
Best coin in fiat profit of the ones you mentioned.
From May 2016 , your Wind Fury creation date, until recently.
DogeCoin is the Best coin for earning the highest fiat profit over buying bitcoin.
$2000 investment could have earned you over $400 million dollar$.
If you meant the best on transaction capacity & lower transaction fees
then all 3 coins, Doge & BCASH & BSV proved superior to bitcoin.
If you meant Best Coin for Energy Efficiency, (Won't collapse the power grid during a Texas Snow Storm)
then any Proof of Stake coin.
IF you mean which coin has the most idiots proclaiming it is magical , with godlike abilities , (like you)
Then that would of course be Bitcoin (the artificially limited transaction performance by its fake Devs coin.)
Anything else TMan.
Re: Bitcoin crashed below $48K, is the bull market in danger?
Bitcoin price dropped below $48,000 in a major correction on Monday right before the U.S. market open.
https://cointelegraph.com/news/bitcoin-price-crashes-below-48k-but-is-the-bull-market-in-danger
https://cointelegraph.com/news/bitcoin-price-crashes-below-48k-but-is-the-bull-market-in-danger
Crank up the barbecue.
There be Steak for Dinner.