Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 4020. (Read 26713463 times)

It's not like the world already knows about emergency powers, and what it means.

Politicians nowadays are starting to show their true form who are starting to suck the blood of their own people no matter what, the Trudeau government has ordered banks to cut funds to the protesters and it's the same as starving the people, I think it's not wrong if Elon Musk compares Trudeau behavior with the government Hitler in the nazi era in his tweets.

Explanation

Agreed. Protests CAN work, if the goal of the protesters is reasonable/just and true democracy is allowed to prevail.

RIP Chadwick

I appreciate the nuance.

https://twitter.com/CoinsureNZ/status/1494377005651046401

Not really. When you combine inputs you make the source indeterminate. Coins may taint coins they're mixed with if you want to take that view but that's something different.

Explanation

Just another politician who shows his true colors when people disagree with them.

Or as I read elsewhere: If you manage to piss off Canadians, you know you fucked up big!

I will expand on this because the sooner we Bitcoin folk get our heads around this the better.

Not only is Bitcoin NOT fungible it is ABSOLUTELY NOT fungible from a pure mathematical aspect.  EVERY satoshi has a pedigree.  You can trace it's origin all the way to the coinbase it was initially realized in.  And you can see the trail of addresses it is passed through to wherever it currently rests.

Before you get all mad at me, and Batslap me... I am NOT making a case for a shitcoin.  I am just being honest about a feature of bitcoin that we need to come to grips with, and the sooner we do the better.

The FBI, for example seems to have figured this out.  https://bitcoinmagazine.com/markets/fbi-forms-new-bitcoin-unit-as-doj-taps-new-crypto-head

Bitcoin is a completely open book.  This is a tradeoff that Satoshi realized the downside of fairly early as he talked about address reuse.  And as we cheer the world waking up to what bitcoin is in the wake of the bank account seizures we also have to see that the satoshis donated to the protesters recently have mostly been flagged, and it will have created a challenge for the users to deal with.

So, there is the growing school of people that preach an amazingly difficult sort of privacy hygiene for Bitcoin, and it surprises me that these folks do not see that they are essentially just making their coins ready for a "list".  We are already seeing exchanges treat these coins differently.  Accounts get closed, and transactions are refused.  Plus the trouble to which one must go to keep their Bitcoin private is beyond the skill level of even very technically adept people.  It is unrealistic to "make every transaction a coinjoin" currently.  This is ON TOP of the fact that it also might be a bad idea.

And frankly the idea that we can add enough privacy features to bitcoin at this point is VERY dubious in my opinion.  There are certainly some ways it can be done...  BIP 47 is a HUGE improvement, and I hope we see that implemented more widely (currently only as PayNyms in Samourai), and layer 2+ can be built to be much more private.  Liquid for example has some of Monero's mojo in it.

Anyway.  I think this needs to be a much wider discussion in the Bitcoin community since we are already seeing government organizations use bitcoins transparency, and they are only going to get better at it.

Ultimately Bitcoin's fungibility is as good as we make it as the users.  Do we care about what satoshis we are paid with?  I think that is part of the answer...  I just don't know how we all get there.  It's an interesting problem.

^ that guy knows stuff.. that Kane guy.      

I pulled all my sh!tcoins out of the exchanges.

Explanation

Actually, since it's pseudo-anonymous, Bitcoin is not really (100%) fungible...

Explanation

This is an interesting concept.

Bitcoin is really something Unique (more than any NFT), although it is fungible.

For some time I have been thinking whether we will have NFTs on bitcoin blockchain one day. I believe NFT will definitely have a role to play in the future (specially in games, maybe even in some other killer app), and the most valuable blockchain is bitcoin's (so, the best blockchain to have an NFT).

Just like we have tokens (USDT) in bitcoin's blockchain, maybe in the future we can have an NFT.

keep feeding info on this.

it is looking like bots are running channels and looking for nodes to exploit (just a guess)

if true running a node with manual inputs we me hard to make work out well.

Explanation

Explanation

Thanks, that's some great advice. I tried this channel fee strategy yesterday and raised the fees on my drained channels, but I haven't seen any activity since. Although, it seems like my drained channels are like the problematic ones you described (nicehash and bitfinex).

I also tried lnd-rebalance (https://github.com/C-Otto/rebalance-lnd) yesterday. Definitely a better option for circular rebalance than e.g. RTL. Basically, what I does is, it will only rebalance if the cost is less than the future profits, and it will automatically keep searching for a route until it find one that is. E.g. if I want to rebalance 500k sats to a channel with 200 ppm, my future profit for that is 100 sats (500k*200ppm). Then it will only rebalance if it finds a route that cost less than 100 sats to do so.
 
Oh well, first of all I need to open more channels and also get some more inbound liquidity. I currently only have 6 channels with a total of 18M sendable and 12M receivable sats. Time to send some more sats to my node.

I did a somewhat pricey mistake yesterday. My default rate for new channels are 1/1. I opened a 5M channel to bfx and left home shortly after, while the channel was still pending. Later when I came home the channel was open and completely drained, but I had only gained like 50 sats for all that routing.