Interesting discussion between Elon and Vlad (RobinHood CEO)
Joined 2/3/2019
Reputation 3230
I just like Bitcoin
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Interesting discussion between Elon and Vlad (RobinHood CEO)
I have a new Lightning app that anyone can use to long or short bitcoin automatically depending on some account's tweet.
https://kriptode.com/ifttl/index.html
It's inspired by all the tweets that say how nouriel or peterschiff start talking about bitcoin when we hit the bottom of a correction. Price usually skyrockets from there.
Anyway, I hope you like and use it and let me know what you think,
Z
Happened to me twice: at some point when I refresh the site all of the positions dissapear, even not closed ones and I loose satoshis on that. For example I've never seen this transaction and now I am not able to see it's status because my open positions are empty (made the screenshot before that). Any idea how to prevent that?
Lol, yes there's a risk because anonymous accounts are tied to browser cache. But since you should only leave money there for 1 hour it should be OK.
Reach out if you have any issues
http://predictions.etleneum.com/
You can create or join a prediction and win sats!
Of course it's centralized and the market maker resolves the bet but at least it has no shitcoins and does not pretend there's such a thing as decentralized oracle.
Enjoy
The Bitcoin Cash (BCH) chain often advertises how it can upgrade using hard forks (usually indicating how easy it is).
It sounds all well, but in order to do this, you must have centralized control over the chain such that these hard forks can be pushed down to all clients. If clients (i.e. miners) don't upgrade their code, then they will be working on the old chain while everyone else moves on.
With centralization comes risk. The risk that a person or entity in control can act in a way that is not a consensus decision. This is exactly the risk that has materialized on BCH.
Amaury Séchet is the lead developer of Bitcoin ABC (the reference implementation for BCH). He announced that in November 2020 there will be an upgrade on BCH.
He plans to try another "fix" for the BCH difficulty adjustment algorithm (DAA) which by the way suffers from low hashpower in comparison to BTC - and miners "gaming" the chain. I'm not going to comment on the issues with the DAA here - the second change is the real point of issue.
The second improvement is the addition of a new Coinbase Rule.
How can the coinbase rule be "improved" you ask?
The Coinbase Rule improvement is as follows: All newly mined blocks must contain an output assigning 8% of the newly mined coins to a specified address.
And who owns that address? - yes, the developers (Amaury). Basically, they are taxing each new block with an 8% tax rate.
Ask yourself - how can this be the consensus. Well, it isn't. And I hope it is clear at this point that BCH is NOT a decentralized currency.
Does this sound like Bitcoin to you?
In case of the tax, very simple solution just don't mine the supposed upgraded chain, and let it be 2 chains, one supports the tax the other doesn't, very simple, centralization my ass, at least you can choose if you want tax or not.
Guess what, I think people will go for the tax so that they can pay development, in the case of Bitcoin, they didn't tax the mining Bitcoin just gave up on trying to be a currency and instead decided to be MoneyGram Lightning Network which is not a currency just a money sending service.
Lightning Network means two onchain transaction fees plus routing fees on top, you can't be a currency with three fees, the best you can hope to be is Western Union. Not to mention you are not private whatsoever.
Bitcoin Cash will charge you a tax, Bitcoin sold out to governments and corporations and gave P2P, that's a hell of price to pay for development, I rather pay 8% than give up peer to peer currency.
By to way I have been using Western Union Lightning Network because to not pay the opening and closing of channels I have been forced to use wallets like Phoenix and wallet of satoshi.
And many other will continue to use lightning this way just to not pay onchain fees and many are starting to think using wallets like that is actually using Bitcoin which is not it is just another PayPal account.
At Phoenix Wallet, you have to pay a fee because it's a non-custodial wallet. And what you can do is:
- Abandon Bitcoin
- Promote Lightning to keep onchain fees as low as possible
- Recommended for fee reduction solutions on the first layer like SegWit, Schnorr, Taproot.
BCH will not allow itself to split, because it would be dead.
I don't care what happens to Bitcoin Cash, for all I care all Bitcoin direct forks should die, just like Bitcoin will. The moment Bitcoin dies, I don't want a fork to say we are the new Bitcoin, I want anyone that holds Bitcoin or any fork to lose their money for forgetting what was supposed a peer to peer currency.
All fiat will start experiencing hyperinflation, and when people try to use Bitcoin to scape hyperinflation than they will realize Bitcoin is not a currency and the price will dump. People will not go to Bitcoin just to hold it at some point they will want to use it, but in a hyperinflation world usage will be so big that tx fees will go so high that people will dump it.
And lightning network will mean double the fees, not to mention custodian wallets may 3ven get a letter saying please give us this and that user funds because we are the government, and since the only way to pay less tx fees is to use custodian wallets, pretty soon people will realize they are using PayPal Lightning Network account when their custodian wallet overlords tell them that the government has ask for their funds and as such they can go and suck a dick for not owning their own keys.
Bitcoin not being a peer to peer currency will only come to light once people try to use it as such, and it will be when people will want to use it the most as a p2p CURRENCY but it will be when they realize they got fuck.
Hyperinflation in fiat currency will show the importance of peer to peer currency with low fees, but if you haven't cash out into something else by that time, you won't even have the possibility to dump because the network will be stuck with higher and higher tx cost.
You don't need to be that smart to realize high transaction fees will be the end of Bitcoin in a hyperinflation world.
Bitcoin is no ordinary cryptocurrency - thousands of developers, millions of users and a very large adoption (for a crypto) make it the largest project in the world.
Don't offend me, I am not a stupid mother fucker, lightning is 3 fees, and if you just want to pay routing fees than you have to use custodian wallets, which is not Bitcoin.
What do you need developers for?
When the only thing they do is develop double fees solutions, like lightning network.
Bitcoin transaction fees are an issue, and any disruption in the fiat world or any hyperinflation will show you can't use Bitcoin for payment in a hyperinflation world, such world is coming very soon.
- Abandon Bitcoin
I already did, I don't hold Bitcoin and I sell it for others the moment i get it.
- Promote Lightning to keep onchain fees as low as possible
Lightning Network means 2 times onchain fees so you can't promote something so useless and centralized in the sense you don't want to promote lightning you want to promote PayPal Lightning to save on fees.
- Recommended for fee reduction solutions on the first layer like SegWit, Schnorr, Taproot.
The only solution is increase the blocksize but your overlords at blockstream will not let you because how else they will pay their investors the moment tx onchain fees go low you have no need for lighting, lightning network means you gotta use PayPal to only pay routing fees but that's not Bitcoin.
But don't worry the truth 8s like shit it always float and you can see it and smell.
If you want to keep lying to yourself you should pray that hyperinflation never hits and that people never feel the need to use a peer to peer currency because the moment people realize Bitcoin is not peer to peer currency bitcoin will dump for sure the moment people realize they can't use it as peer to peer. And hyperinflation will be the trigger of such catastrophe.
You know it, I know it Bitcoin is not a peer to peer currency, but you and others are telling the world Bitcoin is something which is not, the moment everyone realizes Bitcoin is not peer to peer currency they will sell it or exchange it for something else.
Bitcoin not a peer to peer currency by Blockstream.
Don't offend me, I am not a stupid mother fucker, lightning is 3 fees, and if you just want to pay routing fees than you have to use custodian wallets, which is not Bitcoin.
I personally recommend using the Phoenix Wallet (for beginners), which automates the opening of channels.
Bitcoin developers do all sorts of things that are needed. From Lightning, to games, to RSK, to Liquid, to software development for satellites and so on.
In my opinion, Lightning and Bitcoin are P2P elements.
Yes Bitcoin can be used as peer to peer but it is too expensive, and lightning too but it is as twice as expensive.
My problem is that your fail to realize that high transaction fees means you can't be a currency at best a money sending service, and more users will realize this and once usage comes and they realize it is too expensive to be used as currency you will use as a store of value, meaning you will get track by governments and you will have to pay as much tax as they demand because they can track you thanks to exchanges, that is the dangerous reality of not being a peer to currency, you will have value but you will always have to go to exchanges to change into fiat, which they the exchanges will sell you out in a heartbeat.
Some governments are even writing laws to forbid the use of currencies as peer to peer.
Governments and institutions want $1000 Bitcoin transactions that way you will always be force to use custodian wallets or services, I suspect exchanges will become lightning nodes and they will track you and denied access to your Satoshis trap in such custodian services at any government request.
Hyperinflation is coming thanks to money printing in beer virus, and they the government and the institutions want you trap, and they don't want you to scape their system, that means taking over other alternatives, governments already took over Bitcoin, it is call blockstream and they will not allow any blocksize increase SegWit was supposed to be 2mb blocks back in 2017, but instead you only got SegWit but the same 1mb.
Blockstream knows daddy government wants zero Bitcoin in peer to peer, you can have Bitcoin peer to peer currency but you are gonna have to pay a pretty penny for it.
Just wait $1000 onchain fees are coming.
And altcoins have been waiting for that moment, eth already prove that bitcoiners were wrong smart contracts are something that the people wanted, a lot of scams, most are, other altcoins want to be peer to peer currency if btc prove to be too high people will give this altcoins a chance.
We have over 10k altcoins some of those may return because people will realize there is value on a true Peer to peer currency.
Not to mention privacy, I bet in the future privacy coins will be the new thing to have specially if governments start demanding too higher taxes.
All of that money printing will for sure force governments to tax their citizens even more in the future you will have to pay from 50% to 80% in those times you may want to hide your money.
Hyperinflation does that if forces citizens out of the system and so governments try to tax more out if those still in the system.
By to way, I own zero cryptos, I just like to imagen i own so that my arguments sound believelable.
I have never own any cryptos, not Bitcoin or any other altcoin, and never will.
Yes Bitcoin can be used as peer to peer but it is too expensive, and lightning too but it is as twice as expensive.
I have no problem with lightning, but ok
If you assume that governments will want to control Bitcoin (ok), then all cryptovalots make no sense and will be controlled or forbidden. If they sentenced Monero to 25 years in prison for use, would you use?
Altcoin, okay. You say there's 10,000 shitcoins. But which ones are used at all? I mean, more than 3 people.
On the one hand, you don't have any bitcoins or altcoins, but you are on Zapread and you have Bitcoins.
they are taxing each new block with an 8% tax rate.
[...]
Ask yourself - how can this be the consensus. Well, it isn't.
Yeah, I mean it doesn't sound good but... is it really that bad, like 8% on every transaction + mining fees? Pay ~$1 to send $10? That's hilariously much.
Looks like the tax idea never died then! Thought commissar Ver had abandoned this.
Hello everyone!
I thought I should write a quick post since I haven't done so in a while. I'm still alive ;)
In the past few weeks, I've been busy working on a project related to COVID risk. I've learned quite a bit recently about virology and how to model epidemics. One of the most notable things was the bimodal nature of the disease (where many cases are asymptomatic) means it is challenging to contain or know the prevalence.
Now that there are a few serology studies released, we are beginning to see that the disease has affected more people than previously reported. The good news there is that the infection fatality rate (IFR) is likely not as high as the worst-case estimates, but it's still very significant for the older population. If someone told you that 1 out of every 5-10 older adults who get the disease would die, then maybe we can begin to appreciate it's severity. Not that younger people are free of risk either. The latest estimates have reported that 1 out of every 100 people who get the disease will die from it.
That brings me to much of what I observe and read about in terms of younger people unafraid of the disease, not taking precautions, or engaging in risky behaviour. Just because younger people are less likely to die, they still spread the virus and kill others.
Hopefully, everyone is safe. I am curious to hear about your personal experiences where you are.
~ Z
Had it the first week of lockdown (mid-march), 4 days and over, so a mild dose, Gave it to a vulnerable partner and she was out of action for 4 weeks. I did feel guilty for that even though it couldn't be helped. Seems like we have forgotten the scenes of the horrible deaths we saw so much of at the start. I still want to do the best i can for those more vulnerable in my life. It's about reassuring others, particularly those who we care about. I always operate this way and have been more than a little amused by the debate surrounding Covid. Scientism and phillosopy, don't help you breathe or kill pain. These positions people take are theoretical. Wait till you can't help a person you care about and have to watch them suffer, you can then enjoy that wonderful feeling of humility washing over you. I wouldn't take the risk element out of our existence though, younger people should take risks but am old enough to know that experience teaches humility very well
In April I was sick entire month with a mild cold, heavy coughing and night fever. Lost my voice completely. Went into quaraintaine to protect family. My doctor was sure it was due to the Corona virus. When I got better again I got a test to see if I had any antibodies in my blood but there were none, so conclusion was I had had the normal flu. But never had such a thing for so long before, so it is still a bit strange I had all the symptoms right at the peak of the pandemic, but I did not have it. On the other hand, reading about stories of people that had a mild case of Corona and lost all their energy even when they were better. That is not my case luckily.
I'm glad to hear you're better, but a little annoying that you're still at risk of the new virus I imagine.
I consider myself a you low risk person and most of my friends are the same and I live in an academic bubble so I would also claim we're educated and understand the/believe in science. BUT we don't really care about ourselves: 1 in a 100 chance is a risk I take before living in prison for 5 months... Our measurements are for people who don't have a choice like we do! We all have grandparents and I hope where they live kids follow government orders the same I do!
I'm following up my 2 other shitcoin to Lightning apps with a new one:
I see so many nano shills and it's supposed to be fast so I may as well give them a chance to convert their token to real money.
Other to LN apps:
Greetings everyone,
I thought I would write a quick progress update on the status of getting LN transactions up again.
I've implemented all of the fixes for the deposits and withdrawals. Theoretically, I could re-enable now. However, I am going to fix up some other aspects as well, which will further improve the safety of funds.
Here is what I am doing:
Once I have these two other improvements complete and tested, I will be turning LN transactions back on.
Hey @fwtf , I just enabled some limited deposits and withdraws. Do you want to test it and see if it's working for you?
Just made a payment and my 2 delayed deposits just showed up.
That's good. Let me know if withdraw works for you too.
Hello everyone,
I noticed strange activity on the ZapRead LN node. I have stopped it for the time being. Apologies for the inconvenience. I will investigate but hopefully there is no issue.
It looks like some kind of bot activity making withdraws.
I'll follow up with an update once I sort it out.
I've been hit recently as well. They go thru each LN service and try to automate what they can.
My idiot stole 1000 sats at a time for hours.
Update:
Good news. I was able to re-create the vulnerability in testing, and I was able to implement the fix in testing.
I will be implementing multiple safety fixes but will unfortunately have to leave transactions offline for a bit longer until it is complete.
Anti-fragility!
Seems like withdraw option still not working fine, I tried a withdraw of 499 sats and it didn't deliver, I wonder how long will it take for the issues to be resolved?
I've fixed most of the issues on the test version. I am also updating all financial aspects to improve safety. It's going to take a couple more days I think until it is updated and tested to go back online.
Very inspiring discussion!
PS You should buy new mic :D
My knowledge is unfortunately low in this area. What happens if you close the channel - you can log in with Lightning? Will Lightning be just a form of authorization to the accounts we have today?
ZapRead.com has registered for the Lightning Hackathon. Please check it out! https://wiki.fulmo.org/wiki/Challenges_May_2020#Zapread.com
The primary challenge I've posted is an authentication challenge - using your Lightning wallet to register for ZapRead, and to log in!
Develop a C# LNURL-AUTH library which can integrate with .NET (MVC) websites.
Chatroom to get started: https://mm.fulmo.org/fulmo/channels/x-zapread
The secondary challenge I have put forward is to develop offline payments for Lightning. Maybe a bit too ambitious?
See you there!
this is hilarious and I love it. I'm setting longs for every Peter Schiff Bitcoin tweet, sweet
Thanks I'm glad you enjoy it. I thought it was funny 😁