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How to save on transaction fee : Wallets are giving us a wrong estimation
⭐ Merited by Dragonfund (1)
Hello,
We all make a lot of transactions everyday. Our at most priority is to get our transactions confirmed as fast as possible because some providers don't allow us to use thier service untill the funds have received a fixed number of confirmations.
The wallets, be it hardware or software tend to give us fee estimation by default, showing us priorities as to which is the estimation of our transaction being picked up.
Usually:
For beginner's who don't know what and how a bitcoin transaction works like, please refer to the following posts :
So, I am not going to explain any of these. My priority is to show you how you can check if the fee suggested is what you need to go with or if can you get the same done with a lower fee.
How to do it :
Visit blockchair.com > bitcoin > click on outputs > select any one output > scroll down and click on the transaction hash.
You will see all the transaction details. We select an unconfirmed output so as to know the number of transactions that are currently in the pool that are yet to be picked up and confirmed. There are many other ways of doing this, I find this was of doing it easy for me.
I have selected a transaction for example :
In the above image you can see that 6k transactions are pending to be picked up in total in real time. This is just to get an idea of how many transactions are pending, how you can set or prioritise your fee.
The below is the current fee estimation :
I can confirm that these are correct and ledger hardware wallet also shows the same in real time at the moment.
So, I decided to go get my transaction confirmed with lower fee, looking that there are not many transactions pending on the network.
The first transaction :
In the above representation, you can see that the fee used was only 71sat/vB. The transaction got its first confirmation within 10 minutes, i.e, it was picked up in the very next block that was mined.
The second transaction :
Looking at it, a second transaction was made with only 20 sat/vB and guess what ? It was picked up in the next block that was mined too.
What you can do to save on fees :
Conclusion
Wallets(Hardware,Software) have been set up with a algorithm that gives us the most accurate and elaborate fee at a current point of time so as to get a transaction happening in a deliberate manner. But this is not always the case that needs to be considered. In the above example you can see that the suggested fee was 136 sat/b to get it confirmed in the next few blocks, but we could get it done with 20% fee of what was suggested to us just by doing some research and looking at the current congestion.
I hope this guide will be of help to someone.
Thank you.
We all make a lot of transactions everyday. Our at most priority is to get our transactions confirmed as fast as possible because some providers don't allow us to use thier service untill the funds have received a fixed number of confirmations.
The wallets, be it hardware or software tend to give us fee estimation by default, showing us priorities as to which is the estimation of our transaction being picked up.
Usually:
- High Priority
- Medium Priority
- Low Priority
For beginner's who don't know what and how a bitcoin transaction works like, please refer to the following posts :
- How Bitcoin transactions work and what are their types? By wwzsocki
- Beginner's Guide to Transaction Fees By Upgrade00
So, I am not going to explain any of these. My priority is to show you how you can check if the fee suggested is what you need to go with or if can you get the same done with a lower fee.
How to do it :
Visit blockchair.com > bitcoin > click on outputs > select any one output > scroll down and click on the transaction hash.
Code:
https://blockchair.com/bitcoin/outputs
You will see all the transaction details. We select an unconfirmed output so as to know the number of transactions that are currently in the pool that are yet to be picked up and confirmed. There are many other ways of doing this, I find this was of doing it easy for me.
I have selected a transaction for example :
In the above image you can see that 6k transactions are pending to be picked up in total in real time. This is just to get an idea of how many transactions are pending, how you can set or prioritise your fee.
The below is the current fee estimation :
I can confirm that these are correct and ledger hardware wallet also shows the same in real time at the moment.
So, I decided to go get my transaction confirmed with lower fee, looking that there are not many transactions pending on the network.
The first transaction :
In the above representation, you can see that the fee used was only 71sat/vB. The transaction got its first confirmation within 10 minutes, i.e, it was picked up in the very next block that was mined.
The second transaction :
Looking at it, a second transaction was made with only 20 sat/vB and guess what ? It was picked up in the next block that was mined too.
What you can do to save on fees :
- Use a wallet that lets you customise the fee
- Always check how congested the network is before making a transaction. You don't have to use the suggested fee always.
Conclusion
Wallets(Hardware,Software) have been set up with a algorithm that gives us the most accurate and elaborate fee at a current point of time so as to get a transaction happening in a deliberate manner. But this is not always the case that needs to be considered. In the above example you can see that the suggested fee was 136 sat/b to get it confirmed in the next few blocks, but we could get it done with 20% fee of what was suggested to us just by doing some research and looking at the current congestion.
I hope this guide will be of help to someone.
Thank you.
Re: Signature Campaign earnings and GST | People please pay attention!
Hello,
After reading this I had a doubt, we pay taxes, I agree. But only for transactions done in fiat right ?
Everything we do with our bank account is monitored by the RBI and we are questionable and taxable for the same. They are also freezing our bank accounts for being involved in crypto trading. How do they expect us to give them data of something like this when they themselves don't support it.
Also, am I taxable if I just store my BTC as it is ? Like, I sold a service, got paid, I never cashed it out : I just want it to remain as it is in my wallet.
After reading this I had a doubt, we pay taxes, I agree. But only for transactions done in fiat right ?
Everything we do with our bank account is monitored by the RBI and we are questionable and taxable for the same. They are also freezing our bank accounts for being involved in crypto trading. How do they expect us to give them data of something like this when they themselves don't support it.
Also, am I taxable if I just store my BTC as it is ? Like, I sold a service, got paid, I never cashed it out : I just want it to remain as it is in my wallet.
⭐ Merited by odolvlobo (1)
Hello,
Firstly, welcome to the forum. Regarding your concern, the most fit board for you can be Off-topic: Other topics that might be of interest to bitcoiners Board
If your topics contain some contests, give aways or any thing that requires participation, then you can post in Games and Rounds: Spreadsheet games, forum-based games, and discussion of individual rounds/games on other sites
Please make sure to read the posts that are pinned on every board which will familiarise you with the posting and implementation rules.
The forum is by the people, for the people. Just make sure you stick to the forum rules.
Thank you
Firstly, welcome to the forum. Regarding your concern, the most fit board for you can be Off-topic: Other topics that might be of interest to bitcoiners Board
If your topics contain some contests, give aways or any thing that requires participation, then you can post in Games and Rounds: Spreadsheet games, forum-based games, and discussion of individual rounds/games on other sites
Please make sure to read the posts that are pinned on every board which will familiarise you with the posting and implementation rules.
The forum is by the people, for the people. Just make sure you stick to the forum rules.
Thank you
Hello 
As discussed, I am applying for another loan with the following terms :
Loan Amount : 0.00115 BTC
Collateral : None
Loan reason : Private
Your BTC Address : 3F7whQeBq3cb8vinP4itMTFxhywS4QFpEq
Date of repayment : 13/09/20
Repayment Amount : 0.00139 BTC
To sum up,
Total Borrowed : 0.0023 BTC
Repayable Amount : 0.00278 BTC
Repayment Date : 13/09/20
Thank you
As discussed, I am applying for another loan with the following terms :
Loan Amount : 0.00115 BTC
Collateral : None
Loan reason : Private
Your BTC Address : 3F7whQeBq3cb8vinP4itMTFxhywS4QFpEq
Date of repayment : 13/09/20
Repayment Amount : 0.00139 BTC
To sum up,
Total Borrowed : 0.0023 BTC
Repayable Amount : 0.00278 BTC
Repayment Date : 13/09/20
Thank you
Have you lost btc at some point of the time ? What is your story
Hello,
Nowadays, we all use crypto and make a couple of transactions every other day, be it to deposit our BTC to some exchage, withdraw it from there, send to someone, or for some other service.
It is not new that we make mistakes here and there. The main cause of these mistakes is lack of knowledge. No matter how smart we are, there are always people that will try to trick us into getting us deceived.
To name a few, we are all aware of things like :
I have many threads today where have lost BTC due to unforced errors, which was mistake on thier part, few for getting deceived and tricked by someone so as to gain access over thier assets.
I know it doesn't feel good to get scammed and the feeling of it sucks. I have seen many people just register and complain about a issue in a single thread and vanish from the forum.
I want to ask all of you guys, have you lost some amount of BTC due to negligence or being a victim of some fraud. Please, let's talk about only BTC and our own experience.
You can speak out your experiences that you would normally not say out loud in the public.
Looking forward to hear some stories, let's be nice to each other and educate each other to become smarter.
To start off, I will write my own story, very long time ago, when I was significantly new to this environment, I had small amount of BTC with me which I sent to wrong address by mistake. Till date it is still on that address. I did scratch my head as to why wallet hadn't recieved it at that time and found that I had just misplaced on word after a lot of research
. It was a small amount and since then I have been extra careful even while copy pasting addresses.
Thank you
Nowadays, we all use crypto and make a couple of transactions every other day, be it to deposit our BTC to some exchage, withdraw it from there, send to someone, or for some other service.
It is not new that we make mistakes here and there. The main cause of these mistakes is lack of knowledge. No matter how smart we are, there are always people that will try to trick us into getting us deceived.
To name a few, we are all aware of things like :
- Fake Wallets
- Ponzi Schemes
- Fake Giveaways
- Phishing Attempts to get us deceived
- Being a victim of some hack
- Investments is fake shitcoins and other fake websites
I have many threads today where have lost BTC due to unforced errors, which was mistake on thier part, few for getting deceived and tricked by someone so as to gain access over thier assets.
I know it doesn't feel good to get scammed and the feeling of it sucks. I have seen many people just register and complain about a issue in a single thread and vanish from the forum.
I want to ask all of you guys, have you lost some amount of BTC due to negligence or being a victim of some fraud. Please, let's talk about only BTC and our own experience.
You can speak out your experiences that you would normally not say out loud in the public.
Looking forward to hear some stories, let's be nice to each other and educate each other to become smarter.
To start off, I will write my own story, very long time ago, when I was significantly new to this environment, I had small amount of BTC with me which I sent to wrong address by mistake. Till date it is still on that address. I did scratch my head as to why wallet hadn't recieved it at that time and found that I had just misplaced on word after a lot of research
. It was a small amount and since then I have been extra careful even while copy pasting addresses.Thank you
Solved
Thank you for all the replies. What worked for me is that I had to check the BIP39 box. The original seed was not from electrum itself but from a different source. After I selected the BIP39 and entered the seed, I could flawlessly proceed and choose the script derivation and path in the next step.
Thank you for all the replies. What worked for me is that I had to check the BIP39 box. The original seed was not from electrum itself but from a different source. After I selected the BIP39 and entered the seed, I could flawlessly proceed and choose the script derivation and path in the next step.
MOVED: Help with electrum wanted needed : Android version
@Royse
I am having this problem with the android version and not the desktop version.
@coyster
Yes, exactly the same issue, tried what you told doesn't seem to work, how did you get it fixed or abandoned it ?
I am having this problem with the android version and not the desktop version.
@coyster
Yes, exactly the same issue, tried what you told doesn't seem to work, how did you get it fixed or abandoned it ?
I found a article telling he himself reported that his IQ was 156 which would make him the second most intelligent president of all time.
Source:
Have a look and let me know if it's true or just another story that was made up.
Source:
Code:
https://247sports.com/college/kansas/Board/103734/Contents/Trumps-IQ-72170710/
Have a look and let me know if it's true or just another story that was made up.
Hello,
I was outside today and wanted to try out things on my mobile device. I decided to try out electrum on my android device and installed it. A few unusual occurences happened.
I visited thier official website :
Selected the android version. It took me to the play Store.
App Link :
Downloaded the app and installed it. Everything was fine untill then.
I selected standard wallet > I already have a seed > entered my seed.
After I entered my seed, even when it is complete, the next option does not appear and also the enter or push to next function does not work in android. Just to check if the problem is only on the android device that I use or the android software or the electrum itself, I downloaded electrum on my laptop a while ago, used the same seed and it works fine.
My issue is the next function/button does not appear whatsoever. I have emailed the contact that I found from thier Google playstore page about the same.
As you can see, even though the seed is full, the next option does not give me access to it. I tried my seed, random seeds, random words, everything I could to see if it will appear take me to the next step, it is just not happening for some reason. The software on the laptop seems to works fine, I have checked it. So now, there must some issue on my device or I must be doing something wrong or the android app itself might have some bug or glitch.
If you have faced the same or are facing the same and have any possible solutions, then please post here.
Thank you
I was outside today and wanted to try out things on my mobile device. I decided to try out electrum on my android device and installed it. A few unusual occurences happened.
I visited thier official website :
Code:
https://electrum.org/#download
Selected the android version. It took me to the play Store.
App Link :
Code:
https://play.google.com/store/apps/details?id=org.electrum.electrum
Downloaded the app and installed it. Everything was fine untill then.
I selected standard wallet > I already have a seed > entered my seed.
After I entered my seed, even when it is complete, the next option does not appear and also the enter or push to next function does not work in android. Just to check if the problem is only on the android device that I use or the android software or the electrum itself, I downloaded electrum on my laptop a while ago, used the same seed and it works fine.
My issue is the next function/button does not appear whatsoever. I have emailed the contact that I found from thier Google playstore page about the same.
As you can see, even though the seed is full, the next option does not give me access to it. I tried my seed, random seeds, random words, everything I could to see if it will appear take me to the next step, it is just not happening for some reason. The software on the laptop seems to works fine, I have checked it. So now, there must some issue on my device or I must be doing something wrong or the android app itself might have some bug or glitch.
If you have faced the same or are facing the same and have any possible solutions, then please post here.
Thank you
Hello,
Loan Amount : 0.00115 BTC
Collateral : None
Loan reason : Private
Your BTC Address : 3F7whQeBq3cb8vinP4itMTFxhywS4QFpEq
Date of repayment : 13/09/20
Repayment Amount : 0.00139 BTC
Signed Message :
Address :
Signature :
Loan Amount : 0.00115 BTC
Collateral : None
Loan reason : Private
Your BTC Address : 3F7whQeBq3cb8vinP4itMTFxhywS4QFpEq
Date of repayment : 13/09/20
Repayment Amount : 0.00139 BTC
Signed Message :
Address :
Code:
16dmo3Zr8AWzfdJuyi12gUwBYASjruHKqg
Message :Code:
I am protrader786 from bitcointalk and today is 08/09/20. I am asking condoras for a non collateral loan of 0.00115 which will be repayed with interest on or before 13/09/20. My recieving address for this will be 3F7whQeBq3cb8vinP4itMTFxhywS4QFpEq
Signature :
Code:
IGxPFi0imqFpzURn3INlCchBK35CMypJr7tbSYAsLoVYDJ3KOy1m8NMwKhrW9Fd8x9TyRpOvf8I5DxvTmuMZfEc=
⭐ Merited by Heisenberg_Hunter (3)
Original Post : [TELEGRAM] Yet Another BitcoinTalk Notification BOT (merits, mentions, topics,+) by TryNinja
टेलीग्राम पर अपने उल्लेख और योग्यता गतिविड़ी प्राप्त करने का तरीका
हम सभी अपने दैनिक जीवन में व्यस्त हैं और मंच के साथ समय का सामना करना कठिन लगता है। यह सूचना बॉट आपके टेलीग्राम पर चलते-फिरते सूचनाएँ प्राप्त करने में मदद करने के लिए बनाई गई है, जब आपके या आपके विषय के बारे में उल्लेख किया जाता है या जब आप एक मेरिट प्राप्त करते हैं या जब आप जिस विषय का अनुसरण कर रहे होते हैं, उसका उत्तर दिया जाता है।
इसे स्थापित करना बहुत आसान है और केवल कुछ मिनट लगते हैं, विस्तृत प्रक्रिया नीचे प्रदर्शित की गई है:
@BTTSuperNotifier
इसमें उपलब्ध वर्तमान विशेषताएं इस प्रकार हैं:
आदेश:
/ start : समस्याओं के मामले में शुरू या पुनः आरंभ करें
/ menu : कंसोल मेनू
/ topic (url) - एक नया सूत्र जोड़ें
/ topics - उन सभी विषयों को सूचीबद्ध करना जो आपकी वॉचलिस्ट पर हैं
/ language - भाषा सेटिंग
/ alt (username) - सूचनाओं के लिए वैकल्पिक उपनाम सेट करने के लिए
/ ignore - अपनी अनदेखी सूची देखने के लिए
/ ignore (url / username) - उपयोगकर्ता या थ्रेड को अनदेखा सूची में जोड़ने के लिए
अधिलाभांश[/url]
एक वेबसाइट है जो होस्ट करती है और किसी भी साइट के पुराने डेटा को पुनः प्राप्त करने में मदद कर सकती है, लेकिन यह केवल इस बॉट से सीधे संबंधित नहीं है Ninjastic.space - BitcoinTalk Post/Address archive + API
Source Code V1
टेलीग्राम पर अपने उल्लेख और योग्यता गतिविड़ी प्राप्त करने का तरीका
हम सभी अपने दैनिक जीवन में व्यस्त हैं और मंच के साथ समय का सामना करना कठिन लगता है। यह सूचना बॉट आपके टेलीग्राम पर चलते-फिरते सूचनाएँ प्राप्त करने में मदद करने के लिए बनाई गई है, जब आपके या आपके विषय के बारे में उल्लेख किया जाता है या जब आप एक मेरिट प्राप्त करते हैं या जब आप जिस विषय का अनुसरण कर रहे होते हैं, उसका उत्तर दिया जाता है।
इसे स्थापित करना बहुत आसान है और केवल कुछ मिनट लगते हैं, विस्तृत प्रक्रिया नीचे प्रदर्शित की गई है:
@BTTSuperNotifier
इसमें उपलब्ध वर्तमान विशेषताएं इस प्रकार हैं:
- जब भी आप का उल्लेख या उद्धृत किया जाता है तो सूचनाएं
- जब भी आप मेरिट प्राप्त करेंगे तो आपको एक सूचना मिलेगी
- अधिसूचना के साथ विषय ट्रैकिंग
- बहुभाषावाद
- एक इंटरैक्टिव मेनू के माध्यम से कई अन्य विशेषताएं और सेटिंग
आदेश:
/ start : समस्याओं के मामले में शुरू या पुनः आरंभ करें
/ menu : कंसोल मेनू
/ topic (url) - एक नया सूत्र जोड़ें
/ topics - उन सभी विषयों को सूचीबद्ध करना जो आपकी वॉचलिस्ट पर हैं
/ language - भाषा सेटिंग
/ alt (username) - सूचनाओं के लिए वैकल्पिक उपनाम सेट करने के लिए
/ ignore - अपनी अनदेखी सूची देखने के लिए
/ ignore (url / username) - उपयोगकर्ता या थ्रेड को अनदेखा सूची में जोड़ने के लिए
अधिलाभांश[/url]
एक वेबसाइट है जो होस्ट करती है और किसी भी साइट के पुराने डेटा को पुनः प्राप्त करने में मदद कर सकती है, लेकिन यह केवल इस बॉट से सीधे संबंधित नहीं है Ninjastic.space - BitcoinTalk Post/Address archive + API
Source Code V1
Code:
Bot + Scrapper: https://github.com/ninjastic/bitcointalk-supernotifier
Ninjastic Post Archive (front): https://github.com/ninjastic/bitcointalk-supernotifier-web
Ninjastic Post Archive (api): https://github.com/ninjastic/bitcointalk-supernotifier-api
Ninjastic Post Archive (front): https://github.com/ninjastic/bitcointalk-supernotifier-web
Ninjastic Post Archive (api): https://github.com/ninjastic/bitcointalk-supernotifier-api
Do we have to archive only our own pages or everything we see ?
Hello,
I was reading on a few different boards of meta and lending. I found that everything is being archived every now and then so as to keep a track of raw and unmodified data.
I searched the forum for why and how it is done and found some useful guides made by :
Now I have the complete idea of how to do it.
Many other members including me don't know a few things :
I have never achieved anything about me : posts, threads, replies, nothing at all. Only when I staked my address, someone else archived it for me.
Please give me a more insight on my questions. I don't think any new forum member knows about how and why it's done.
Thank you
I was reading on a few different boards of meta and lending. I found that everything is being archived every now and then so as to keep a track of raw and unmodified data.
I searched the forum for why and how it is done and found some useful guides made by :
- [project] LoyceV's Profile and Trust Archive site - Active and updated! by LoyceV
- [Guide] Best way to Archive Bitcointalk and other webpages by dkbit98
Now I have the complete idea of how to do it.
Many other members including me don't know a few things :
- Do we archive only our posts or everything that we post in or see or is there some criteria
- Is it done individually by all the users or is there someone who archives everything as a whole for the forum itself?
- Do we only archive what seems to be useful to us or everything
I have never achieved anything about me : posts, threads, replies, nothing at all. Only when I staked my address, someone else archived it for me.
Please give me a more insight on my questions. I don't think any new forum member knows about how and why it's done.
Thank you
Re: A beginner's merrit giveaway thread to beginners [Newbie-Member] Join now !
<...>
Ayy it's 34 and not 38. A beginner's merrit giveaway thread to beginners [Newbie-Member] Join now !
Hello,
I registered on 21, Nov 2019. I registered since I got aware that such a forum exists and i wanted to be a part of the community, also I had a question or two to ask
at that time which without registering wouldn't be possible to do. I was viewing as a guest for a long time.
Like everyone, I started as a newbie, managed to get a merit or two here and there and eventually rank up to junior member. As time passed by and as my activity and merit increased I made it to the member rank where I am currently sitting now. It was hell of a roller coaster ride.
Not everyone has same skill sets or knowledge to provide useful information or feedback when requested by users in different scenarios, I know many of the new members might feel the same.
What I learnt was, in order to contribute, you first have to be able to know about the subject, if you do, everything else is a cakewalk.
Have you been on the forum for a long time ? But haven't been able to manage to get any merits or rank up? Don't be discouraged. There is always time to grow and room to learn new things.
Many people have helped me in ranking up, getting merit is not dependent of chance but choice. If someone finds you or your posts interesting and appealing, they will reward you regardless, the community is very good hearted and welcomes everything that others offer to them.
Below are the members who helped me rank up and motivated me to be more productive by showing appreciation to what I did untill now.
If you feel left out, feel that you have made some good posts but haven't been appreciated, feel there is something that you have contributed and haven't been able to get attention, don't worry. Post here if you meet the below criteria I will see to my best that you recieve a reward for it.
Criteria
I have only 9 sendable merits at the moment.
Even if all my sendable merits are over you can still post here, if or when I manage to get some merits myself again, you will be rewarded regardless.
Good luck and Thank you.
I registered on 21, Nov 2019. I registered since I got aware that such a forum exists and i wanted to be a part of the community, also I had a question or two to ask
at that time which without registering wouldn't be possible to do. I was viewing as a guest for a long time. Like everyone, I started as a newbie, managed to get a merit or two here and there and eventually rank up to junior member. As time passed by and as my activity and merit increased I made it to the member rank where I am currently sitting now. It was hell of a roller coaster ride.
Not everyone has same skill sets or knowledge to provide useful information or feedback when requested by users in different scenarios, I know many of the new members might feel the same.
What I learnt was, in order to contribute, you first have to be able to know about the subject, if you do, everything else is a cakewalk.
Have you been on the forum for a long time ? But haven't been able to manage to get any merits or rank up? Don't be discouraged. There is always time to grow and room to learn new things.
Many people have helped me in ranking up, getting merit is not dependent of chance but choice. If someone finds you or your posts interesting and appealing, they will reward you regardless, the community is very good hearted and welcomes everything that others offer to them.
Below are the members who helped me rank up and motivated me to be more productive by showing appreciation to what I did untill now.
If you feel left out, feel that you have made some good posts but haven't been appreciated, feel there is something that you have contributed and haven't been able to get attention, don't worry. Post here if you meet the below criteria I will see to my best that you recieve a reward for it.
Criteria
- Newbie, Junior Member and Member ranks are eligible to participate.
- Account age must be 3 months or older
- Posts written only in English will be considered
- Accounts with negative trust/feedback are not allowed to participate
- I will give only one merit with regard to this giveaway thread
- You can post only 1 topic that you find is the best according to you which deserves attention. Please post a direct link to the topic.
I have only 9 sendable merits at the moment.
Even if all my sendable merits are over you can still post here, if or when I manage to get some merits myself again, you will be rewarded regardless.
Good luck and Thank you.
Re: Ninjastic.space - BitcoinTalk Post/Address archive + API
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Hey SRF, can I know how you were able to manage to view user stats please? Or is it just an old archive ? When I click on my profile or others profiles to see the stats, it tells me that user stats are disabled. Please let me know.<....>
Ok, I will now study about testnet and it's whereabouts.
I could experiment with giving them small amounts of eth, or some token too for a matter of fact. But it will distract their thoughts about bitcoin and will make them think about this and not bitcoin. Bitcoin is the only real crypto currency that will last above all, I think all others just copied the way of functioning and came up with some useful thoughts introducing some shitcoin and made money off it. I want to introduce they only to bitcoin and it's nerwork.