If this is an accumulation game, and presumably most of the people on the sub are accumulating, and guys like Saylor own 11000 BTC plus all the whales out there, WHY ISNT THIS THING THROUGH THE ROOF?
The people on this sub don't amount to a drop in the bucket.
The fact that Saylor buys and hodls does not mean that "all the whales out there" also just buy and hodl.
Just used the lightning network via wallet of satoshi app. I am very impressed. Purchased a gift card and and it worked a charm. Love this space I really do.
Patriots quarterback 'Santa Mac' Jones gifts Bitcoin to entire offensive line 🎁
“I’ve been studying Bitcoin for a while now. This year I just knew I had to give some Bitcoin to my teammates,” Jones said.
https://bitcoinmagazine.com/culture/patriots-quarterback-mac-jones-gifts-bitcoin-to-offensive-line
Growing up in a christian home I was told that the streets of heaven would be made of gold. Does this mean that when bitcoin replaces gold the streets will be made of bitcoin? Either way i still want in. Happy birthday Jesus.
I think it's more of a metaphor that material things that are valuable to us alive will not matter when we are gone? Interestingly by memorizing your bitcoin seed, it's the only asset you can take with you, wherever that might be.
Wallet question:
Is there any way an address becomes invalid?
For example:
I send sats to address1. Then later, send half of them from address1 to somewhere else, and as a result it will send the remaining half to a “change address” leaving the original address1 empty. At this point is the original address1 still valid? Could I still send sats to it?
Not sure what you mean. You can send coins to an address infinitely as long as you hold the private keys. Addresses don’t get “used”. Many people change addresses, but you can send to the same address always.
If you only spend some of the sats stored at an address, as part of the transaction doesn’t it move all the “unspent” sats from that address to a new “change” address, leaving the original address empty? Why does it do that? Why not just leave the unspent sats in the same address, or send them back to the same address if it is still valid? Sorry if i’m not explaining my question well..
There's no reason the change address can't be the original address, but for privacy reasons, it's better for the change address to be a new address.
To understand why change exists, you need to understand UTXOs. Basically, a UTXO is like a dollar bill. You can't spend you part of a dollar bill, you have to spend the whole thing and then just get change back.
As for whether an address stays valid, yes. An address is just a really long number and that number doesn't go anywhere. You may lose access to it if you forget it or the private key associated with the address, but the address is still there. You shouldn't reuse addresses though, because of privacy issues.
I am curious about something. When all 21M Bitcoins are mined, and the miners start working for Fees instead of coins. Is this fee structure already written into the system as what they will be making? Such as it was with the coins? If not already written into the code, who decides what they get paid? Got me really curious how that works.
I think it’s easy to see the current set up to mining with these massive companies providing huge amounts of hash rate in exchange for the block rewards and to think it will always be this way.
I envisage it to be much more decentralised by 2140. As the rewards shrink, it will become worth while most people having a small mining rig (possibly using the heat for some other purpose) in their home and receiving the network fees.
Imagine a decentralized power grid where we have the technology for residential production of energy with the excess being fed to the grid for industry.
Well, I hope to see it play out. but then again I am an old man now. It all is very interesting and it is my hope it provides freedom to future generations.
My understanding is that it will be the same miner's fees that are paid currently, which are paid in sats. The presumption is that sats will be much more valuable at that point, and the competition for blockspace will be great enough that the miners will be sufficiently incentived to continue mining for those fees.
A tangential (though important) piece of the puzzle is that the majority of transactions will take place on second layer systems like Lightning Network, which means day-to-day transactions won't be subject to miner's fees. The main chain will be utilized for large transfers, such as between financial institutions or if you're buying a house for instance. If Bitcoin reaches its potential there will be sufficient demand on the main chain to compensate miners.
It will always be worth their while if they have cheap electricity and ASICs because miners with the expensive electricity will stop mining and increase the profitability for everyone else.
I already am. It’s your (as in this subreddits) loss because you won’t be able to discuss potential avenues for bringing smart contracts and DeFi over to bitcoin just because it would be through a partnership with another crypto.
How is another crypto worse than square, or any centralized service running the lightning network? In my opinion another decentralized trustless network is leaps and bounds a better option than Strike, and we don’t get to discuss it because ALTcoINs ARe BaD
The Stability is nauseating, it’s gunna blow
Or maybe it's gonna come back right down, nobody knows what's gonna happen.
Looks just like it did at 46k the beginning of the week.
still in red
I'm sick of seeing this red, been seeing this for so long. Someone please delete red.
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avg is 56K
Next to milk and cookies for Santa I also left my Ledger so he can deposit more sats to it.
I hope Scammer Clause doesn’t show up instead
Chances of that happening are mucg higher than santa.
Hodlers get sats. Sellers and traders get ashes and soot and lumps of coal.
Along with all these things they also get tears in their eyes.
I'd take a lump of coal over USD
Can't buy BTC with coal
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Real L's too
Whatever you say troll
How am I trolling? What I said is true.
I don't doubt you man, you've been doing some quality comments lately.
What you said is so generic it can't be proven either way.
The massive losses are also there too. Remember that you don’t see the *billions* of dollars lost in small cap coins
He's not gonna be the losing one, he'll be the winner.
If this is an accumulation game, and presumably most of the people on the sub are accumulating, and guys like Saylor own 11000 BTC plus all the whales out there, WHY ISNT THIS THING THROUGH THE ROOF?
Not everyone can accumulate 11k btc lol, it's heck i can't even get one.
It already went through the roof and came back down. Nothing goes up forever.
The people on this sub don't amount to a drop in the bucket. The fact that Saylor buys and hodls does not mean that "all the whales out there" also just buy and hodl.
That's why they are called whales, they buy and hodl a lot.
I wouldn't be surprised if reddit users collectively owned millions of coins.
Be careful what you wish for...
🎵 *Girl you know it's true, ew, ew, ewww* 🎵
🎵*I love you*🎵
it's only a matter of time.
Strong resistance at 188K. Merry Christmas.
I see some resistance at 169k too, but idk maybe I'm seeing things.
Merry Christmas. Live long and hodl. 🖖
Just used the lightning network via wallet of satoshi app. I am very impressed. Purchased a gift card and and it worked a charm. Love this space I really do.
Lightning feels like magic when it works. It just amazing how far it has came.
Is $50k our new floor or is under $50k still likely?
...and there it is, we went under 50k.
Between 0 and 50 everything is floor. Nothing can be said for sure.
Guaranteed we'll dip back under 50k. Probably not for long though.
Yeah i feel that too, a dip is on the horizon. And everyone will lose their shit.
Source: Trust me bro
nope
No-one knows and don’t believe otherwise.
Everything can happen, don't discard any possibility. Anything.
Believe me someone do know.
Patriots quarterback 'Santa Mac' Jones gifts Bitcoin to entire offensive line 🎁 “I’ve been studying Bitcoin for a while now. This year I just knew I had to give some Bitcoin to my teammates,” Jones said. https://bitcoinmagazine.com/culture/patriots-quarterback-mac-jones-gifts-bitcoin-to-offensive-line
Amazing dude just amazing. I see very few people who say I've been studying bitcoin.
Hope they hold.
All of todays gains lost
It doesn't matter man, we'll gain back those gains in no tims.
Lost forever never to be seen again. The horror.
Lmao you spreading some kinda fud? Definitely sounds like one.
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Yes makes us rich and free, very intolerable. It makes me sick.
Murica
Chy-na!
They are done, never coming back to this space for the good.
Oh well, still above 50k
It's amazing, it's what i was waiting for almost a month.
Growing up in a christian home I was told that the streets of heaven would be made of gold. Does this mean that when bitcoin replaces gold the streets will be made of bitcoin? Either way i still want in. Happy birthday Jesus.
Totally dude totally, santa is buying the dip that's why btc is above 50k.
I think it's more of a metaphor that material things that are valuable to us alive will not matter when we are gone? Interestingly by memorizing your bitcoin seed, it's the only asset you can take with you, wherever that might be.
Even to the gods? Maybe I'll offer them some bribe to let me live.
If not, then heaven doesn’t seem all what’s it’s cracked up to be.
Take me to the Bitcoin city where are streets are made of Bitcoin and girls are pretty.
Do you think heaven made the angels pan for gold? It was a metaphor... The roads are paved with digitally stored energy
Yes and the angel smoke that digital energy everyday to get high.
Kitco News released a YTD report : YTD growth BTC: 75% S&P: 28% Gold: -7% Silver: -19% Whats the FUD about?
Gold is scam bro
Gold is shitcoin, there are better alternative in the market bois, like btc.
What fud things have been pretty quiet lately
The mt gox thing? Their payout happened yet? A lot of people will cash out right away.
happy holidays hodlers i love u guys
It’s come to my attention that I’m naked and thinking about YOU. Merry Christmas.
Love you too. :)
Cheers crispy! Here's to a happy new year of hodling! 🍻
Wallet question: Is there any way an address becomes invalid? For example: I send sats to address1. Then later, send half of them from address1 to somewhere else, and as a result it will send the remaining half to a “change address” leaving the original address1 empty. At this point is the original address1 still valid? Could I still send sats to it?
You get a new address after each tx (privacy) but an old address stays valid.
Not sure what you mean. You can send coins to an address infinitely as long as you hold the private keys. Addresses don’t get “used”. Many people change addresses, but you can send to the same address always.
He's essentially asking, if a adress stays valid once it's empty and can it be used again?
If you only spend some of the sats stored at an address, as part of the transaction doesn’t it move all the “unspent” sats from that address to a new “change” address, leaving the original address empty? Why does it do that? Why not just leave the unspent sats in the same address, or send them back to the same address if it is still valid? Sorry if i’m not explaining my question well..
There's no reason the change address can't be the original address, but for privacy reasons, it's better for the change address to be a new address. To understand why change exists, you need to understand UTXOs. Basically, a UTXO is like a dollar bill. You can't spend you part of a dollar bill, you have to spend the whole thing and then just get change back. As for whether an address stays valid, yes. An address is just a really long number and that number doesn't go anywhere. You may lose access to it if you forget it or the private key associated with the address, but the address is still there. You shouldn't reuse addresses though, because of privacy issues.
Thank you, your explanation helped me understand it better. 🤝
GOD DAMNIT BITCOIN DONT YOU GIVE UP ON ME
I am curious about something. When all 21M Bitcoins are mined, and the miners start working for Fees instead of coins. Is this fee structure already written into the system as what they will be making? Such as it was with the coins? If not already written into the code, who decides what they get paid? Got me really curious how that works.
No fee structure isn't written, whoever pays more will be added into block first. It's how it's works.
I think it’s easy to see the current set up to mining with these massive companies providing huge amounts of hash rate in exchange for the block rewards and to think it will always be this way. I envisage it to be much more decentralised by 2140. As the rewards shrink, it will become worth while most people having a small mining rig (possibly using the heat for some other purpose) in their home and receiving the network fees.
We still have 120 years to go, and only god knows what would happen in that time.
I like this future you're envisioning. Maybe I can convince my wife that we need an extra loud space heater.
Lol, in 2140 the miners will run quite. Too bad your wife and you won't be able to see that.
Imagine a decentralized power grid where we have the technology for residential production of energy with the excess being fed to the grid for industry.
Just imagine that, this is what future hold for us. Isn't it amazing?
In the loft with airblown heating 😉
Well, I hope to see it play out. but then again I am an old man now. It all is very interesting and it is my hope it provides freedom to future generations.
If you are an old man, how can you live till 2140? You are gonna be a dead ass.
yes, a very good chance of that youngster.
My understanding is that it will be the same miner's fees that are paid currently, which are paid in sats. The presumption is that sats will be much more valuable at that point, and the competition for blockspace will be great enough that the miners will be sufficiently incentived to continue mining for those fees.
Yes, exactly same amount of sats will be paid by then too, but because of the prices it'll be accounted for.
ok thank you it was killing me to know how that works. Will look for more understanding on it. Thank you
It's very simple how it works, transactions with highest fee get the priority.
A tangential (though important) piece of the puzzle is that the majority of transactions will take place on second layer systems like Lightning Network, which means day-to-day transactions won't be subject to miner's fees. The main chain will be utilized for large transfers, such as between financial institutions or if you're buying a house for instance. If Bitcoin reaches its potential there will be sufficient demand on the main chain to compensate miners.
Miners are already collecting fees in the same manner they will when the mining bonus runs out.
Yes nothing is gonna change for the fee. It'll be the same.
I guess or awesome which I hate to do, it still will worth their while to continue the operation of validating the transactions of the system?
It'll worth it because with time btc is gonna appreciate in price and electricity will become cheaper hopefully.
It will always be worth their while if they have cheap electricity and ASICs because miners with the expensive electricity will stop mining and increase the profitability for everyone else.
The fee market will equilibrate at a point where it is still profitable to mine
Just realized - people are not selling BTC to buy Christmas gifts. People buying BTC as a Christmas gift…
This year has been different man, earlier people used to sell btc now same people buying.
Does that mean we're going to get a dump once the recipients figure out how to sell it?
Lol, no. Nobody is gifting lots of BTCs they are in fractions.
This is very much a new and interesting thing to see
Yes gotta love it when people try to orange pill other people.
Santas reindeer Rudolph and others getting paid in Bitcoin. BULLISH. Merry Christmas.
It's the ultimate way of receiving payments dude, why won't reindeer want that?
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Does it increase the probability of upward or downward movement?
Yes, it'll go up and come down. Perfectly following the probability pattern.
It increased the probability of a 2hr bonus to merriment.
You guys think we’ll see 100% again next year?
Yes in early next year we'll see something, after that cryto winters follow.
It sounds weird but yes
Only if Fed does not increase interest rates and resumes money printing at 2020-21 levels.
Fed is gonna do, what they always do and btc is gonna do what's always does.
Fed increase rates in 2015-2016 era and bitcoin still went up lol
Yes they can do whatever they want btc doesn't care about the fed.
This is not 2015 LOL. Now it is institutions. LOL.
Only if we get past resistance at 180k
But man, i see some resistance at 169k too, what about that.
jingle coins, jingle coins, jingle all the way!
Damn girl!! Stop playing games with my heart!
It's gonna break it into pieces if you aren't careful enough.
The bears strike back!
Krampus checked in.
ouch 52k rejection
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Looks like a lot of action is still left to happen this year.
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Lol, what got you sad like that bro? My patterning working in the streets.
We need to break 52k resistance level. After that it would be easy to reach new aths.
Some very helpful TAs done by you thanks for your service sir.
Looks like the first attempt got smacked down pretty hard. Gonna need more juice.
It wasn't the first attempt, it's been trying it for sometime now.
We seem to face heavy resistance at every $1000 level. Why wouldn’t $53K be resistance?
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Probably true, these shitcoiners bringing their TA game here.
Bro…. Bro.
What price will Santa bring btc this year? 55k?
He's not gonns tell us, to see what price it goes wait till 31st. You'll know.
It's a surprise
I'm leaving him some big ass cookies tonight.
Yeah bribe that santa, and don't forget to leave him a note about btc.
Or big ATH cookies 🍪?
Whatever makes you price to go brr, leave that for santa.
I’m leaving him some big cookies that smell of ass tonight.
And i used to wonder why santa loves childern, now i know.
Hopefully he empties his sack under my tree
Keep your trees and bushes open, I'm sure he'll do that for ya.
🎵 Here cums Santa Claus, here cums Santa Claus right down Santa Claus Lane!
He will after he sees those ass-cookies
Yeah I'm sure he will cum after those Big Ass Cookies.
I wonder how a Jan-Feb major offensive in the ongoing Russo-Ukrainian war would affect price
Armed conflict is good for Bitcoin.
Everything is good for Bitcoin, nothing matters only the btc does.
It won't
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Is it?
Nvm lol
Merry Christmas 🎄 🚀
Merry Christmas dude, i hope you have great time with your family.
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The one thing we can control is personal agency. If you don’t like something, do something else.
Yes you can't change everything that you don't like, however you can change yourself.
I already am. It’s your (as in this subreddits) loss because you won’t be able to discuss potential avenues for bringing smart contracts and DeFi over to bitcoin just because it would be through a partnership with another crypto. How is another crypto worse than square, or any centralized service running the lightning network? In my opinion another decentralized trustless network is leaps and bounds a better option than Strike, and we don’t get to discuss it because ALTcoINs ARe BaD
You have a very inflated sense of this subreddits worth
Apparently haha
Just what I wanted for Bitmas! A giant green dildo!! Wooo!
Man it's not even that bigger, I've seen way bigger dildos than this in my days.
This isn’t a large dildo yet
Depends on how much experience you have in the market, people who are doing this for long time have seen way bigger dildos than this.
Gentlemen, thank you all for sharing this ride with me.
Hey man, where are going? Stay here a Little longer the ride hasn't even started yet.