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submitted by /u/LeoBeltran [link] [comments] |
source https://www.reddit.com/r/btc/comments/tisehl/how_much_would_it_cost_to_store_the_bitcoin_cash/
Monday 21 March 2022
How much would it cost to store the Bitcoin Cash blockchain?
source https://www.reddit.com/r/btc/comments/tisehl/how_much_would_it_cost_to_store_the_bitcoin_cash/
Question for any economists here: If USD gets competition, shouldn't marginal USD demand decline, and borrowing costs rise?
So higher costs would be an absolute disaster considering the current debt levels?
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Sunday 20 March 2022
What is your preferred method for seed phrase storage?
Looking into a better way to store my seed phrase. I was browsing online and found titanium plates that you punch things into and stuff...but I am not sure if I am a fan of that. If someone finds the plate, which I get I can make as difficult as possible, they still get all the info they need.
Then I was reading about storing half the phrase in different locations, which is a great idea, but I also have horrible ADHD memory span so a bit nervous trusting something very important to "remember this spot". Usually very important things stick pretty well for me but this is basically my future nest egg so I am very cautious.
Basically, trying to think of a way to store my seed phrase where there isn't a physical copy of it written down per say but I will always be able to access my seed phrase. Basically boil it down to only 2 ways to obtain my seed phrase: Hack it of beat it out of me.
I'm sure I am over thinking this shit...
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This is an appreciation post to u/1bch1musd for helping me setup and SPV Server for Bitcoin
I would like to thank members of this community, especially /u/1bch1musd, for helping me setup an SPV server for Bitcoin, coming soon for BCH too :). Fulcrum is actually a lot easier to setup for a guy with intermediate knowledge in server setup, but is a strong believer of decentralisation. You guys are just awesome! I also saw major performance boosts in running fulcrum server, especially when trying to sync to an electrum client situated in another part of the world.
It is much faster than Electrs running on mynode (a bitcoin stack; later on I came to know that Electrs was slow enough for scalability and production use as a public server, tested on both raspberry pi and a powerful linux machine). Now I run Fulcrum on my windows-based node alongside Bitcoin Core, which makes sense as I wanted to make use of it rather than just contributing to decentralisation. Now, I'll bring the same fulcrum server to BCH too as I'm planning to run a BCH full node too, on the same computer.
Anyone who wants to use my Fulcrum server on their electrum client for Bitcoin (BTC) (currently) can connect to the same via: fulcrumx.technovanti.com:50025 (SSL)
[link] [comments]
source https://www.reddit.com/r/btc/comments/ti2341/this_is_an_appreciation_post_to_u1bch1musd_for/
Saturday 19 March 2022
Time it would take to bring in 1 billion people to BTC, and finally to lightning
I was wondering how much time (in the Bitcoin blockchain) it would take if suddenly 1 billion people wanted to get some Bitcoin the usual way, because suddenly bitcoin was accepted by most merchants.
Considering that most people will buy from exchanges, for withdrawing to self custody that will require 1 billion tx (maybe less if the CEX comprises them), and considering an optimistic 5,000 tx per block, that would take 200,000 blocks or 3.8 years. After that, if everyone opened one channel, that would be roughly the same amount of txs again right? another 3.8 years?
Am I correct? Maybe I am an idiot and I missed something.
As an alternative, would it be possible to skip all the onchain process and onramp people directly to the lightning network, but allowing everyone to have their own lightning nodes? (not like Muun wallet, which I love btw).
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Miners who hold the most BTC are constantly expanding?
Miners are not only maintaining their ground, but also drastically boosting their hash rate, according to a variety of mining measures. According to a research by Arcane Research, publicly listed BTC miners are always seeking for ways to expand, since they expect to boost hashrate higher than the whole network by 2022.
According to the latest numbers from the Cambridge Bitcoin electricity usage index, North American miners account for 44.95 percent of the worldwide hash rate. It's anticipated to rise, given the enormous predicted increases in goal hash rate among publicly listed Bitcoin miners. They don't have to sell their Bitcoin to acquire additional machines, expand their rack space, or do anything else.
They could head to the capital markets and receive the money they need to keep expanding. As a result, they are able to hold big Bitcoin positions. I think this will drive the price of BTC up, plus the entire crypto market with it, so I’m stacking up BTC, along with ETH, Solana, SocialGood, Avalanche… projects that have proven their purpose in the industry.
Bitcoin has proven to be too big to fail and will keep increasing with value as more people invest in it as digital gold. Last year, many theorized the rise of BTC to 100k$. Do you think it’s possible this year?
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source https://www.reddit.com/r/btc/comments/thc1uj/miners_who_hold_the_most_btc_are_constantly/
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