submitted by /u/lugaxker [link] [comments] |
source https://www.reddit.com/r/btc/comments/j04gfv/bch_coffeehouse_5_who_needs_bitcoin_cash_where/
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a genuine question. why are you listening to the miners signals? should they do what devs tells them to, even if it affects their profits?
https://twitter.com/aantonop/status/1308026648781086720
A lot of people who are into cryptocurrencies will see this FinCen leak as vindication and proof that banks are money launderers. But, this will be used against cryptocurrencies...
See the correct analysis of this news is that AML/CTF and KYC don't work. They will never work because they try to control the *tool* not the *criminal act*. It's not the money that is illicit, it's the use of that money to commit crimes.
I've talked about this extensively. Not only is the use of money as a crime-control mechanism ineffective, it has terrible consequences that increase poverty for billions by creating economic exclusion. So it's not just useless, it is "Worse than Useless"
"Worse than Useless" is the title of a talk I gave about this topic. For the illusion of unatainable security and crime fighting we get two obvious and unavoidable results: billions cut out of the financial system and enormous corrupting power given to regulators and bankers.
But despite this obvious truth, nothing is going to change. In fact, this report will be used to *increase* the use of controls and surveillance. In govt if something doesn't work, you do MORE of it. So this will result in stricter AML/CTF rules.
These new rules will also not work. These new rules will also corrupt more bankers, regulators, cops and politicians. These new rules will destroy opportunity for millions more people. But they will offer the comfort of righteous rhetoric against evil while creating more evil
As these new rules are applied, banking will become even harder for poor people, undocumented people and people on the fringes of society. It won't stop criminals from criming. It will stop poor people from rising out of poverty. It will make banks even more competition-proof
These new rules will make government surveillance worse and will erode democratic institutions. They will make it possible for dictators to economically surveil, control, and eventually extinguish any opposition. They will use US surveillance tech to impose financial fascism
Then of course, the need and value of open financial systems based on open, private, and uncensorable cryptocurrencies will increase dramatically. When all the money in the world has been deliberately broken to serve this unachievable goal, the only money that works is crypto
More and more people will need to use cryptocurrency in order to participate in the global economy, because control-currency doesn't work as money. A medium of exchange can't also work as a medium of control. They break money to stop crime, even though it is a futile effort
That makes crypto-currency a systemic threat, not to the economic nature of national money, but to the control and surveillance system of geopolitical money. Math money doesn't play politics, which makes it automatically "rogue" money.
Open and private crypto-currencies won't comply with these regulations, because they CAN'T comply without breaking every feature and capability they have. If some try to comply they will have to compete against gov-crypto and facebook-crypto (they will lose)
Then the war on cash and the war on "illicit" money becomes an all out war on the only money that still works. The free, open, borderless, neutral, immutable, censorship resistant money that crypto-currencies like Bitcoin offer
The only type of money (crypto) that poor, undocumented, oppressed, and controlled populations can use will of course be attacked. But they will not have any choice but to continue to use cryptocurrency. Billions are already unbanked by fiat controls.
This FinCen leak is worthy of our ridicule because it reveals the hypocrisy of those who argue that crypto-currency is for money launderers. Banking *is* money laundering on a massive scale. But the solution is not to tighten controls on money. That won't work
The solution is to stop trying to use money (a tool) to fight crime (human nature). But if you think the hypocrites will back down and adopt sensible systems and laws that enable human trade and economic inclusion, you are wrong. They will double down with even more control
This isn't good news. This is the excuse they will use to double down on surveillance and control. To make money a tool of naked political power. No matter how many billions these measures condemn to poverty.
Thought I'd describe the situation and ask if anyone's got the same error before.
Trying to sign using an address in Electron Cash that has got coins on it.
When I submit the signature, the site gives me the error message
Error: The balance is zero <unknown legacy address>
The legacy address given does NOT correspond to the bitcoincash: address I used to sign.
Also, searching the Addresses in the wallet for the address displayed by the site, does not show up any such address in my wallet.
For now, I assume it is a bug on votes.cash, because I used the site, and the same Electron Cash wallet version, to successfully submit a signature in the past.
As an interesting detail, the address in question was filled by a CashFusion consolidation transaction, so maybe that somehow throws off the amount detection?
Although the wrong legacy address seems to indicate it's more likely a pubkey processing issue.
I am not too concerned about this bug. I could try working around it by moving the coins to a new (non-CashFusion) address and see if that fixes it. I might report back in a while.
Mostly I am curious if anyone else has faced the same issue.
Next year its 1Bch = 1Eth again
💯%
Currently, the flipstarter by Naomi Brockwell (https://nbtv.media/) is close to completion and the floor for pledges is almost as low as $2.
Pledging to it lets you show your support and your action has two possible outcomes:
1) The campaign funds, in which case you will get a 7-part video serie at the low cost of ~2$!
2) The campaign fails to fund, in which case 20 days from now you can open your wallet and click cancel to get your funds back.
EarnBet is an online decentralised casino operating on the wax chain and its token, BET (listed on Binance Dex and Uniswap) can be used to earn passive income as the casino is 100% user owned with 100% of dividends being paid to token holders. Recently, ChainLINK partnered up with EarnBet and dapp radar listed it as the top dapp token in the gaming and gambling subjection of the blockchain industry, Smiley just to put into perspective the popularity and fame of the casino. It is expected that the casino will soon incorporate 1000-slot machines and live poker into its decentralised platform which will attract even more players, thus increasing the dividends ten fold. The project is currently worth a mere $3million with $5 million worth of dividends being paid out in the 2 years of its operation, which more than justifies its valuation and has the potential to grow. Since the casino provides games such as Hilo, Blackjack, etc at the momment it still has viability of growth since the gambling industry of the U.S is worth $240 billion. If EarnBet could take a mere 0.1% matket share, that would be a valuation of $240 million!
Just ran the numbers on my node. If you audited the supply at the same block, you should have the same number.
{ "height": 650000, "bestblock": "0000000000000000000060e32d547b6ae2ded52aadbc6310808e4ae42b08cc6a", "transactions": 41429824, "txouts": 67327325, "bogosize": 5056099770, "hash_serialized_2": "745da4f4e1f749312faeb4431d3ed2aa899dce138c5bac3d9f304c03f8887754", "disk_size": 4108808771, "total_amount": 18499823.37744111 }
Bitcoin is a completely new board game. It’s a new accounting system. It is the most sound form of money ever invented and incentivizes authenticity, honesty, and good faith behavior at its most basic layer.
Of course, humans can and will try to abuse and cheat the system, but Bitcoin has a way of snuffing out bad behavior pretty efficiently.
People believe this about Bitcoin. That is why it is valued so highly..... the USD price is just a symptom of that belief.
The CEO called me today. He doesn’t have the time or inclination to learn anything about Bitcoin, and wants the easiest setup possible. He has the same problem Michael Saylor described but on a MUCH smaller scale. It is a small company so I’m guessing less than 5 Bitcoin. I’m inclined to suggest GBTC for ease and familiarity of methods and security. I don’t think they have the patience or time for Casa, even with me walking them through it, though Casa will be my first recommendation as it’s easy and top flight security. Suggestions, tips, or resources?
I’ve never looked into GBTC nor heard a podcast on it and it’s safety profile. Is it safer than exchanges? Or is there an exchange that is insured well? Any tips?
I guess I should clear it up, the friend is the CEOs father(who understands Bitcoin, is a gold bug, and who is helping his financial advisor understand Bitcoin), the owner of the lions share of the company’s assets. The CEO may not have a lot of say in the matter, just the execution. And I’m assuming like .5-1% so this isn’t something crazy. Thanks!
Circulate is a DeFi lending protocol that enables users to borrow various cryptocurrencies using stable and variable interest rates. In addition to its typical features on Compound agreements, Circulate has different features, such as unsecured Loans, ‘rate switching,’ Flash Loans, and special types of collateral. Circulate uses a native token, CCL, to offer its holders a discount fee. In the near future, CCL will also be used for governance and as a first line of defense against outstanding loans. Background Circulate has been developed by the Defi Labs team in the US since 2019. Circulate is based on a lending platform on the Tron network. The platform Token is CCL, no Presale, no VC investment, no pre-mining, no team share. Why Circulate? As the popularity of the Tron network increases and the number of users increases, the low cost of the Tron network will lead Defi users to continue migrating from the ETH. Of all the lending agreements in the market, Circulate offers the most diversified DeFi collateral. Backed by strong liquidity and Nexus Mutual (insurance) protection against smart contract risks, we will see Circulate take a significant market share in the DeFi lending market in 2020. Flash Loans Flash lending is one of Circulate’s main selling points (since it does not require any collateral). Flash loan does not need to use collateral to guarantee repayment, the only limit is the repayment time of the loan. A loan is considered valid as long as it is used and repaid in full in the same block in which it was issued. Conversely, if the loan is not paid off in the same block, the whole deal falls apart. Circulate charges a fee of 0.30% for flash lending — it will provide Circulate with a steady stream of revenue as demand for specific flash lending features such as automated Maker Vault grows. Flashlending opens the door to safe and reliable arbitrage opportunities for users at almost no cost. Elasticity of interest rate While other lending platforms tend to lock users into fixed or floating rates, Circulate’s rate switch allows users to switch between two different types of rates. This allows them to choose between fixed and floating rates to get the best loan rate. Supported by the new interest rate model, Circulate has seen strong growth in demand for stable interest rate loans since its deployment in September 2020. Similarly, users can leverage Circulate’s interest Rate using Swap Rate, which increases the composability of variable and fixed loan interest Rate management. It is worth noting that a stable rate is not a fixed rate. On the contrary, they are a more stable variable interest rate and are not susceptible to market fluctuations. Unique Collateral In addition to the more common DeFi tokens such as Tron and USDT, Circulate will soon give users the ability to borrow on tokens such as Uniswap LP and TokenSets. This means that users can borrow against positions that earn them gains-without sacrificing the opportunity cost of not being able to access those positions in order to take advantage of encrypted borrowing. How to borrow To begin using Circulate, please visit website and use Tronlink purse to connect. To deposit funds, select an asset and enter the amount you wish to lend. From here on out, just approve Circulate’s access to the selected asset and sign the transaction to obtain the deposit. The money you deposit will be made available to the loan pool, and you can monitor your accrued interest in real time in the Circulate app dashboard. When funding Circulate, users receive wToken with cTokens that function like Compound Finance — give you an interest-bearing asset that marks the percentage of your claim to the underlying asset pool. Unlike cToken, however, each wToken retains the same value as the underlying asset. For example, an aDAI token is always worth the same as a real DAI token. wToken does not appreciate with interest (as with cToken); instead, the number of wToken in your balance increases. Keep in mind that each asset has different collateral requirements due to price fluctuations. The stability currency provides the maximum loan-to-value ratio due to its inherent price stability. To learn more about Circulate’s grading process, check out their risk framework. Each of Circulate’s assets has two separate interest rates. One is a stable rate, one is a floating rate. Users can switch between the two rates at will. The utility of CCL The original token of Circulate — CCL — is a token of ERC20. CCL was originally used as a utility token in the Circulate platform. It offers users a variety of advantages, including lower fees, higher loan-to-value ratios, and mortgage incentives. However, as Circulate was replaced by Circulate, CCL tokens assumed more application scenarios, including platform governance. (Because it’s moving toward a decentralized model.) CCL holders can vote on the development team’s proposals and set economic parameters (including interest rates, liquidation allocations, and new assets). The agreement currently USES about 80% of the platform’s fees to destroy CCL on the open market. That means the supply of loans will continue to shrink, which could increase the value of tokens over time. In the future, CCL will have more collateral to support its governance of the agreement, including requiring payment of agreement fees to act as a first line of defense in the event of a liquidity event for malicious borrowers. CCL backed assets: Circulate supports nearly 5 Tron based assets, including, but not limited to: Usdt-trc20 (USDT), TRON(TRX), JUST (JST), BitTorrent(BTT), etc [link] [comments] |
OpenBazaar announced today that they are closing down Oct 1st
"unless additional community funding can be raised"
" OB1 cannot sustain funding the ongoing infrastructure costs."
Very sad/disappointing news...
Is it possible that the same result could befall a solely donation based BCH infrastructure?
There may be no perfect answer... and maybe it is some combination of solutions... that will evolve as BCH grows!
For every supporter of "Bitcoin: A Peer-to-Peer Electronic Cash System" there may be nearly as many answers...
-Thomas Sowell
I’m trying to offload around $430 USD I have in my spare Blockchain wallet. I was able to get out $1k easily myself but everything else is calling for further verification and due to my delicate situation this has created some issues. Let me know if you can help!
Looking back Bitcoin has had a hell of a ride.
One aspect kept comming back though; underestimating the next step up.
Just look back at conversations in different time frames, every hurdle was going to be impossible to take, to just being rolled over...
It was never going to reach $1, for sure $100 was dreaming, reaching parity with an ounce of Gold well keep dreaming, ever going to touch $10k you are just insane, companies going to use it as their reserve pffff get out.....
And next ath will be the same..
No matter what it will be the incoming money will again surprise most. If it will be pension funds, governments, hedge funds, or whatever I don't care..
The only real risk I see is a possible panick.
Number of newly mined coins is low compared to what it was, while mentioned parties above have WAY more fiat to spill than previous cycles mainly initiated by just small parties.
If the next run gets just a bit out of hand things go nuts. If pension funds, or governments openly step in, demand would outstrip supply by a magnitude.
Which Hodler is going to sell if price goes nuts and no end in sight since every one can do the basic math how much fiat will roughly chase that limited number of coins?
Just that attitude will make the price go even more nuts..
Look at the dire state of most fiat.
Look at the unsustainable debts.
The system will start to crumble and not just the weak usual suspects, no this time big players like the Euro and Dollar will get hurt.
I don't know how we should prepare for such an bull run. All I can say is 'don't get blown away, don't sell easy'.
Hodl, strong.. .
Edit: It won't matter what the price is going to be, it will matter how many stats you have stacked and if you could Hodl....
Could checkdatasig be used to construct a transaction where 2 people send coins, but one of them, selected using an instant coin toss, receives all input coins?
Just wondering what the news is that’s causing this massive crash in the bcash price compared to the real bitcoin?
Is it that almost nobody uses bcash because it’s blockchain isn’t nearly as secure (pretty much zero hashrate compared to BTC) or is it something else?
Seems like people are using lightning on bitcoin instead of bcash because it’s faster and has lower fees?
Just curious!
Summary page: https://www.coinex.com/activity/bch-fork
ABC futures: https://www.coinex.com/exchange?currency=bch&dest=bcha
BCHN+BU+BCHD+Flowee+Verde+Knuth futures: https://www.coinex.com/exchange?currency=bch&dest=bchn
I know that 120GB isn't close to enough to store the full chain, but I understand that this isn't always completely necessary?
I have enough experience to get a Pi up and running as a personal Samba server and seedbox with help from tutorials. I have basic knowledge of navigating a unix terminal. That's about it.
Is there a relatively simple and quick, and - most importantly - secure, way to get a Lightning node up and running? I want to do my part to help, plus I hear I can stack a few sats on fess if I get lucky.
Thanks
(I'm expecting a lot of replies that begin with: "First, get a Pi 4 and a 500GB-1TB SSD")
Two years ago today I owned 1.12BTC at an average purchase price of $4500
Prices had already dropped a great deal from the months prior, but I remained calm in my hodl mentality -- the price was still well above my average, after all. That changed quite rapidly and I sold it all at my break even point, only taking a loss on fees.
It wasn't that I got scared - I was two years in the game by then - I just got greedy. I had every intention of buying right back in at around 3k -- increasing my stacks and lowering my average.
I watched it hit my target and didn't buy back.
I watched it rally back above my previous average and didn't buy back.
I was left with 0.0BTC and a handful of shitcoins that weren't worth the trouble.
I watched it exceed $10K and *then* I finally started thinking about buying back.
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One year ago today I had .3BTC at an average price just above $10,000
Today I have 1.65BTC at an average price of $9500. I'm always a bit sore about my mistakes, but have never been more firm in my belief in Bitcoin.
I'd likely have double that right now - at a lower average price, to boot - had I never fucked around, but am fortunate to hold what I have (and still stacking)
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Don't time the market. Don't try to be slick.
Dollar cost average. Never sell.
Buy the dips whenever you can catch them. Buy anyways whenever you can't.
Any Luck anyone?
I have had my new card on order for over 6 weeks. Everytime I call to ask, they say it takes 10 business days and I need to be patient, it is on the way.
Why do I feel like they are lying to me?
Hi Guys, Is there a website or wallet where i can exchange some BCH for Theta? I do not want to go to any exchanges, creating an account and all that stuff.
Mine is Andreas Antonopolis infrastructure inversion.
In particular the 'less than' part. Why is not just equal to? I realize this is a dumb question but I'm struggling.
If we think about it as trying to guess a number between one and ten, and the target is 3 but the answer can be less than or equal to 3 (and everyone knows this) wouldn't everyone guess the lowest number (0 or 1)? I'm very confused about this and have not had any luck finding an easy to understand answer.
Thank you in advance for any help.
Edit: These answers are great, I won't go replying to each one but just wanted to say thanks to all who have responded. I think I'm starting to get it at last.
MicroStrategy has been featuring more in cryptosphere and it all started when it converted its primary asset base into Bitcoin. However, the business intelligence software provider is also staying aware of the possible swings in Bitcoin’s price and is ready to sell at a moment’s notice.
Safety Amid an Economic Downturn
Earlier this week, Michael Saylor, MicroStrategy’s chief executive, sat for an interview with Bloomberg, where he spoke about the firm’s shocking move to hold over $400 million in Bitcoin. There, he explained that they see Bitcoin as a safer asset, especially compared to cash and gold.
Saylor explained in part that he chose to make the move to Bitcoin because he had seen the impact of the coronavirus pandemic on traditional assets. Before the pandemic hit, the firm had about $500 million in assets, which it had invested primarily in short-term government securities.
Sadly, the pandemic caused yields on the securities to tumble, and Saylor knew that the company had to move into something more reliable.
“Once the real yield on our treasury got to more than negative 10%, we realized that everything we are doing on P&L is irrelevant. We really felt we were on a $500 million melting ice cube,” he said.
The company eventually found the safety it sought with Bitcoin. In July, MicroStrategy announced in a formal announcement that it had switched its primary asset base to the leading cryptocurrency, purchasing about 21,454 BTC for $250 million. Among other things, the Virginia-based tech giant highlighted that Bitcoin had proven itself a dependable store of value.
In the weeks since then, MicroStrategy has doubled down. In a filing with the Securities and Exchange Commission (SEC), it confirmed that it could purchase even more of the asset. However, that would only happen after assessing its cash needs and business strategy.
Just Business for MicroStrategy
Days later, the company purchased an additional 17,000 BTC tokens — bringing its total Bitcoin haul to about $425 million.
Considering that it is putting a lot of its eggs in the crypto basket, Bloomberg was curious about whether Saylor was worried about Bitcoin’s famed volatility and how much a sharp price drop could gut his firm.
However, Saylor brushed off any concerns. In part, he said:
“We can liquidate it any day of the week, any hour of the day. If I needed to liquidate $200 million of Bitcoin, I believe I could do it on a Saturday.”
Saylor added that the asset’s volatility isn’t much of a problem as he could quickly move away from it and get the company’s money back. The CEO also pointed out that he wasn’t committing to Bitcoin as a passion project. He noted that his firm’s decision to buy the asset was merely due to its proven stability over the past few months, and he would liquidate his company’s holdings if he saw some other alternative assets with greater yields.
For now, however, Saylor is all-in on Bitcoin. The CEO further predicted that more companies would make similar moves, adding that private companies are currently in the right position.
Hey
I just moved my btc balance from Pro Coinbase to Ledger. Coinbase shows tx fee is 0 when confirming the transfer however tx details in Ledger app show that tx fee was €78! Wtf? Does it have anything to do with the fact that my wallet is native segwit?
Appreciate if anyone can explain!
I am mulling over some ideas and this lead me to a few questions.
What's happening to get new people in, a mass adoption event, AOL CD or the right product right time, Sony Walkman, Nokia 3210, Model T? Anything in progress?
Tournament Map - SE China Themed Through Flipstarter, we raised 1 BCH for the promotion of a series of tournaments within the game Rust. My team and I are building a new game mode by modding the server-side code. I'm pleased to announce we had a very successful first tournament! We had 35 players from around the globe battle it out for 12 rounds. A clear winner emerged and was crowned with a 0.25 BCH prize, which he then graciously split with the runner-up. Big thanks to George for sponsoring the majority of the prize pool! The tournament footage attracted the attention of a very popular content creator in the space, and he's planning to attend the second tournament. With any luck this project will get the traction it needs to maintain a healthy server population. At that point it might make sense to build a token-based skin-economy, facilitating a decentralized market for digital goods, enabling fun projects like this one to sustain themselves and to co-exist. Tournament Footage [link] [comments] |
So Coinbase has restricted my buying ability unless I confirm my identity (now with a photo) which I’ll do, no problem.... but I’m sick of this
I’m sick of the constant re-verifications I get on Coinbase and Cashapp, to eventually be denied and locked out of my funds. What are some alternatives to BUYING and STORING crypto fast and easy? Right now all my bitcoin is held on coinbase and its scary to think that some new compliance order makes them shut off my access to buy, sell, withdraw, etc. any suggestions?
How can I know that a full Bitcoin (BTC) node, that I run on my server, has finished the initial syncronization? Is there a special RPC API call that'd return "true"?
https://twitter.com/zapit_io/status/1308629034335567873?s=19
We would like to announce that we will no longer be recommending memo.cash platform to our users and request others also not to use their slp exchange due to the blatant censorship.
It started few weeks back when we launched the dividend tool which became quite popular in the slp space where multiple token projects started using the automated tool to send out dividends/airdrops
Bitcoin.com NewsBitcoin.com News even wrote an article about it after which the price of the ZAPT token increased a lot but memo.cash never updated completed orders with price above 10k satoshis, yet the token was being traded for around 25k sats
We reached out to the memo telegram group to mention this issue, we were told that it will be checked and later we got a sarcastic reply implying whether we thought ZAPT was really worth that much.
The orders went upto 40k sats even though the price never updated above 10k sats but when a order was placed for 1k sats it was instantly updated.
A lot of users who traded Zapt are known in the slp community and it also includes few token founders so there is no 'suspicious' activity going on.
And after the above tweet was posted ZAPT has disappeared completely from the token list. Whether it is going to be fixed or not we want to inform about what happened and what is happening with memo.cash
Its sad to see memo.cash censoring us this way and will most likely see other tokens being censored as well if any token price doesn't match the thinking of the memo team.