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submitted by /u/Cryptology3366 [link] [comments] |
Saturday, 23 July 2022
BIP 152: "A node [...] should make a best-effort to eat the sender's cat."
BIP 152, Compact Block Relay was created 2016-04-27 by Matt Corallo, it is supported by most Bitcoin Cash node implementations. In Implementation Notes item 10 says:
- Any undefined behavior in this spec may cause failure to transfer block to, peer disconnection by, or self-destruction by the receiving node. A node receiving non-minimally-encoded CompactSize encodings should make a best-effort to eat the sender's cat.
Is this a joke? Or a typo? ("best-effort" should also be followed by a noun, e.g. "attempt")
Or does `sender's cat` have a domain-specific meaning that isn't clarified in the BIP?
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source https://www.reddit.com/r/btc/comments/w5hs4s/bip_152_a_node_should_make_a_besteffort_to_eat/
If you buy bitcoin in Argentina, you cannot buy dollars for 90 days; bisq users unaffected if they buy anonymously (cash deposit?)
Sounds outrageous, a soft version of Chinese social credit. Buying bitcoin is perfectly legal in Argentina - at least according to quick check on Wikipedia - yet you can be punished for doing it.
My first though was "great, Argentina is doing an advertisement for Bisq". Except, now a seller, if he knows buyer's identity, may blackmail him. So a bank transfer is not a good idea. Cash deposit may be an option, if the depositor does not have to reveal his identity. I know it is anonymous in Spain, but some ID is required in other European countries, no idea about Argentina.
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PSA : Im buying more btc today.
Welp, because it always dips after i do. I promised id warn everyone first before I buy again. Youre welcome!
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Friday, 22 July 2022
Some questions for the future of BTC's utility. Please respond with helpful solution, rather than negative comments mocking my poor understanding etc. I am here to learn.
- If BTC is a deflationary asset due to its fixed supply, why can't governments simply stop print fiat money once and for all and see deflation with traditional fiat currencies in the same manner?
- What happens if all the available BTC is bought and the people who own them refuse to sell?
- Although BTC is a decentralised asset, you can only buy it on centralised exchanges such as Binance and Coinbase (from my understanding). Thus, doesn't this defeat the initial purpose of eliminating the risk of your money being stolen or controlled.
- When we go to the supermarket, we pay exactly the amount that we buy. However, if BTC transactions have fees, and these fees can add up pretty quickly, doesn't this prevent BTC from being integrated into society and being used in everyday lives?
- BTC is only fully yours when it's in a cold wallet. However, sending BTC from a cold wallet is an inconvenient and time-consuming progress, therefore halting BTC from regular use and eventually becoming a world reserve currency.
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⚡ Lightning Thursday! July 21, 2022: Explore the Lightning Network!⚡
The lightning network is a second-layer solution on top of the Bitcoin blockchain that enables quick, cheap and scalable Bitcoin payments.
Here is the place to discuss and learn more about lightning!
Ask your questions about lightning
Provide reviews, feedback, comparisons of LN apps, services, websites etc
Learn about new LN features, development, apps
Link to good quality resources (articles, wikis etc)
Resources:
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Here is an awesome list of resources compiled by Jameson Lopp: https://www.lopp.net/lightning-information.html
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Want to test out your lightning fire power? tip the Bitcoin devs! https://bitcoindevlist.com/
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Previous threads: Search
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Lnbook getting closer towards being finished and can already be seen at: https://github.com/lnbook/lnbook
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Lightning Dedicated YouTube Channel: https://youtube.com/renepickhardt
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Also there is the playlist by chaincode labs: https://youtube.com/playlist?list=PLpLH33TRghT17_U3as2P3vHfAGL8pSOOY
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Lightning stores: https://www.lightningnetworkstores.com/
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Learn more and talk about lightning right here in r/Bitcoin, r/bitcoinbeginners, r/thelightningnetwork, and the r/Bitcoin chat
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How far do you see Polygon MATIC reach by end of this year? Good time to buy or I should wait for a retrace
Polygon’s MATIC has been all over the news in the past few days for its crazy eye-popping rise, and I am wondering what is happening and what could be the cause of this astronomic rise. As a matter of fact, this is the kind of rise you experience when a new project is about to get launched on a major exchange or when it has something big about to happen. Guess I missed something in the news about MATIC which is responsible for this spike.
Although I read that that the network has experienced some huge number of projects get on-boarded. Looking at the charts, MATIC was at $0.31 as at June 18 and by July 21, MATIC is touching $0.9 per token. That’s about 200 percent in barely one month. And that’s coming from a coin that has been around for quite some time, and not some recent project like Messenger app token Toklok, Stacks or chronoly.
With this trend, you think MATIC could hit $5 by the end of this year? What do you think about getting some MATIC right now?
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source https://www.reddit.com/r/btc/comments/w4orgw/how_far_do_you_see_polygon_matic_reach_by_end_of/
Thursday, 21 July 2022
Yankees will now be able to collect their salary in bitcoin
NYDIG, the financial services company specializing in bitcoin (BTC), announced on July 14 its partnership with the renowned New York Yankees professional baseball club. This agreement will allow its employees to access their savings plan in the market's leading cryptocurrency.
Interestingly, just a couple of days later, according to the numbers of Exeno, a popular crypto ecommerce, its most used and resorted means of payment during these days was the same Bitcoin.
In the press release they announced that Yankees employees will be able to convert part of their payment in bitcoin through the NYDIG platform.
The alliance will allow these transactions to be free of charge. This situation comes in the midst of the bear market that the cryptocurrency is going through, which is trading around USD 20,000 these days.
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Have you used a data provider like Chainlink or The Graph?
Hey guys! Have you used blockchain data communication platforms, such as Axelar, Chainlink, and The Graph? we need your help to collect important data. We want to hear from you! Complete this survey, and stand a chance to receive an airdrop and possible participation in our developer grant program! https://l5d87lam6fy.typeform.com/to/oy0kKmPc
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source https://www.reddit.com/r/btc/comments/w3x5ec/have_you_used_a_data_provider_like_chainlink_or/
'Crypto' turned me into a gambler, bitcoin turned me into a saver
Here's the long-form post I made about my personal struggle with gambling addiction and the role bitcoin played in helping me keep that addiction at bay.
https://bitcoinfire.substack.com/p/bitcoin-helped-fix-my-gambling-addiction
I'm sure there are a lot of newcomers out there who have been disappointed with their returns so far with bitcoin, and you've probably heard this advice before, but just stay consistent and stay in the game. Don't try and 'win it back' elsewhere. You haven't 'missed the boat,' bitcoin is THE thing you want to be owning this next decade. Learn from my cautionary tale. DCA and HODL in cold storage. Sounds simple, very difficult to execute over a long period of time.
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Latest price crash was not all about Stablecoin defaults: TETHER👀
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Tether has deleveraged $17.4 billion from the all-time high of $83.2 billion. But there are still $65.8 billion USDT tokens pumping the price of BTC, with a daily trading volume of roughly the same value. As previously shown, these are mostly wash trades that serve to keep the price up. Tether tokens are backed by very little, and they're not guaranteed to be redeemable. In the past, Tether just printed more tokens whenever the BTC price went down, whereas now they seem to be cashing out and burning those coins. If they don't print and keep cashing out, it will create a continuous downward pressure on BTC price. Three Arrows, Genesis, Terra, etc. caused billions in losses, but we're nowhere near level ground. Rumors are that the current BTC pump is just a short squeeze on Genesis. [link] [comments] |
source https://www.reddit.com/r/btc/comments/w3viu9/latest_price_crash_was_not_all_about_stablecoin/
Wednesday, 20 July 2022
my daughter want to invest into something for her future. bitcoin is a good option?
Hi, my 14 years old daughter is working at lowe and would like to invest into something for her future. Do you think this is good option to open an account at x place on the web, at her name and invest 100$ into the account every time she getting paid until she old enough?
our family suck with crypto as we doesn't understand anything about this. we are faily new to this. She asked us to check to invest for later into something.
thanks
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Yesterday our Bitcoin Agents team in Maracaibo - Venezuela, did an induction to the administrative staff of the real estate company "Rent A House - El Lago"
Tuesday, 19 July 2022
Futures are finally matching spot prices for the first time on months. Previously they were around 1% below spot prices, either due to low buyer interest or heavy shorting paper BCH.
Monday, 18 July 2022
Global BTC news
Can anyone recommend good sources of global news around bitcoin?
I just had a post removed which showed that the BTCJPY price is driving the market (check the 200week/100week ma on the BTCJPY pair). The other pairs (EUR/GBP/USD) are not so tight, but I have no idea how to look at dates of events, key upcoming dates, government documents, etc.
BTC is amazing as a global state indicator. I would like to understand the news sources people use outside the US.
any advice would be great.
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Just passing the word!
New pairs for my fellow farmers
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source https://www.reddit.com/r/btc/comments/w1iglj/just_passing_the_word/
HelpMe
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submitted by /u/SnakeDoc25 [link] [comments] |
source https://www.reddit.com/r/btc/comments/w1f5on/helpme/
Now With this, You should read the T&C of every crypto project before diving in
Taking a cue from what is currently happening with Celsius, it has become imperative that you go through the terms and conditions of any project or platform you wish to get involved in. I guess the spike in the NFT industry which has led to the rise of marketplaces such as Gamestop and Solis NFT marketplace, makes this even more paramount.
I have however observed that many don't read through the tiny lines of a project's terms and conditions. If they really do, why would anyone still choose to put funds into Celsius? Knowing that a part of its T&C states that:
"In the event that Celsius becomes bankrupt, enters liquidation or is otherwise unable to repay its obligations, any Eligible Digital Assets used in the Earn Service or as collateral under the Borrow Service may not be recoverable.” I guess this legally exonerates Celsius from repaying any of its creditors… since they agreed to the T&C
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source https://www.reddit.com/r/btc/comments/w1fzl9/now_with_this_you_should_read_the_tc_of_every/
Please understand what "1 btc = 1 btc" really means
Often a bitcoiner will say "1 btc = 1 btc" and then someone, thinking they are clever, will respond with "well 1 usd = 1 usd" - so I'd like to explain the flaw in this response, and I'll use a simple example to do so.
Let's take some constant, like "1 meter." The "meter" is defined as the length of the path travelled by light in a vacuum during a time interval of 1/299,792,458 of a second.
Since the speed of light does not change, the length light travels in that time in a vacuum does not change. Therefore, the meter is an unchanging and permanently fixed constant backed by physics and mathematics, i.e. "1 meter = 1 meter."
If the speed of light were somehow centrally planned and constantly changing (read: inflating), then 1 meter would not be a reliable and we could not measure length effectively. Buildings could not be built and no one would be able to communicate distance. You can substitute the meter with any other mathematical constant to illustrate the same concept.
Similarly, a "bitcoin" can be defined as a single token out of 21 million. Since the cap cannot change, a bitcoin is also a permanently fixed constant backed by physics and cryptography, i.e. "1 btc = 1 btc."
The same cannot be said of the dollar, as it is one unit out of a forever increasing total, centrally planned supply. This is similar to the speed of light always changing, messing with the "meter" definition and our ability to measure. The changing inconsistency of the dollar leads to distortion in "measurements" (read: prices) that is destructive to society - which bitcoin remedies.
It is the first constant in the field of economics. The importance of this can hardly be overstated.
tl;dr: The "1 btc = 1 btc" does NOT mean how much a btc is valued in fiat, nor does it indicate how much a bitcoin can buy, nor is it a tongue-in-cheek tautology. It's a phrase indicating the fixed, mathematical, physically-tethered nature of bitcoin.
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Sunday, 17 July 2022
Yet another post warning people to get their coins off exchanges. Mine was almost running out of bitcoin.
tbh, they may have enough liquidity to buy some more, or even other wallets with more funds(less likely), but still not reduces the of value of knowing your keys & coins are safe.
now the main story.
after the recent events of those Chinese banks running out of money & several exchanges/lenders going bankrupt (most notably Celsius), i finally got my coins off my local exchange. It was a very stressful process, as the amount was relatively high for me (less than 1000$ but almost 4x my salary!), the fees were high (a flat rate of 0.00035 per transaction, almost 10x the network fee), & it being my first time doing so. I finally decided to do it. first did a small batch (the minimum withdrawal set by exchange to test run the whole process). Then erased my wallet app & rechecked my seeds & preparedness. Finally the next day i transferred the rest of my sats to my own wallet.
As I thought the fees were too high (relative to network fees which i checked beforehand using block inspector (https://live.blockcypher.com/btc), I got curious to see whether it was the exchange taking this high fee or something else happening. After the first transaction, i found it on the block chain the yeah it was the exchange taking all this fee for itself (my guess was to discourage small time HODLers from withdrawing their funds, but tbf the transaction was very fast). Then I checked their current reserves & it was around 32BTC (this was thuesday). After I moved all my funds, there was only 26 remaining (the next day and now as I'm writing this on Saturday night, only 4BTC left!!!! I got more interested & look at the recent transaction & it was mostly small amounts ranging from 0.001 to 0.1BTC.
My greed was almost ruining my saving!!! They might have had other wallets or be able to restock in time but I sure am not going to take that risk again!!!!
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New York Yankees Ready to Pay Employees in Bitcoin by Partnering With NYDIG.
After reaching an agreement with Bitcoin-focused financial services company New York Digital Investment Group, renowned baseball team the New York Yankees will permit its employees to convert a portion of their salary into Bitcoin holdings (NYDIG). The multi-year agreement, as stated in the official press release, would provide Yankees employees access to NYDIG's Bitcoin Savings Plan (BSP), giving them the choice to set up an automated conversion of a portion of their post-tax salary into bitcoin. Although there are no transaction fees, the site does not allow users to transfer their coins to outside wallets or receive the asset from outside sources.
One of the most effective ways to save bitcoin for workers at the Yankees and elsewhere is to set aside a tiny portion of their wages into a Bitcoin Savings Plan. Dollar-cost averaging can smooth out any hiccups along the way. According to the "Bitcoin Benefits 2022" poll conducted by NYDIG, 36% of workers under the age of 30 are interested in earning a percentage of their wages in bitcoin.
The blockchain ecosystem is rapidly growing as cryptocurrency as means of payment is increasingly being adopted around the globe also diverse establishment across different industries such as Ferragamo, Gucci, Facebook are adopting NFTs and blockchain-based social media platforms which provide users more privacy and are censorship resistant such as Tok Lok App, Steemit, peetah and indorse.io are increasingly becoming popular. These are all indicators of a thriving Ecosystem. According to NYDIG, organizations of all sizes, from small firms to the Fortune 500, have used their bitcoin platform, which satisfies the highest regulatory level. The relationship, according to NYDIG's chief marketing officer, is a crucial chance to capitalize on the legendary sports team's impact and further the company's goal of "bringing bitcoin to everybody."
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source https://www.reddit.com/r/btc/comments/w0nbo0/new_york_yankees_ready_to_pay_employees_in/
Nvidia's 50,000 bitcoin anniversary sweepstakes is a trap
Scammers are using Nvidia company's 30th anniversary as a lure to trick unsuspecting people with a USD 50,000 bitcoins (BTC) sweepstakes, warn researchers at cybersecurity firm Kaspersky.
In addition, Exeno, the largest crypto ecommerce of the moment also spoke out about it, alerting its buyers about this alleged "giveaway".
Nvidia will be 30 years old in 2023, but the scammers brought the celebration forward only with the idea of capturing the attention of cryptocurrency enthusiasts, such as bitcoin.
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source https://www.reddit.com/r/btc/comments/w0msmk/nvidias_50000_bitcoin_anniversary_sweepstakes_is/
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