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/u/ErdoganTalk
Redditor Since August 22, 2015 (1,856 days old)
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https://www.reddit.com/r/btc/comments/i9t5wy/how_long_will_we_continue_to_have_low_rates/

Powell, June 10, 2020: > We’re not thinking about raising rates, we’re not even thinking about thinking about raising rates," Fed Chairman Jerome Powell told reporters during Wednesday's press conference. https://edition.cnn.com/business/live-news/stock-market-news-061020/h_213d00641eab8aacc55ff33db99a1421 Powell, Jul 29 2020: > Thinking about thinking about thinking about... https://www.cnbc.com/video/2020/07/29/were-not-even-thinking-about-raising-rates-says-fed-chair-jerome-powell.html Zack Knoepke, October 25, 2006: > Okay. I think we should maybe start talking about starting a band. > I'm serious. Dudes. Dudes. Dudes. We should totally think about starting to talk about doing this for real. > I'm not saying right this instant. That'd be crazy. Obviously, we're not ready to jump into the talking stage just yet. I'm just saying, you know, we should consider maybe wondering about beginning to ponder it. Of course I'd never be, like, "Let's launch into some half-assed thing and start talking about stuff before we've talked through talking about it first." I just mean we should think about starting to talk about it, eventually. https://www.theonion.com/i-think-we-should-start-talking-about-starting-a-band-1819584326 So when will the rates be normalized? What do you think? Please predict the year and month in the comments!

posted by /u/ErdoganTalk in /r/btc on August 14, 2020 16:03:30

https://www.reddit.com/r/btc/comments/g6d6em/you_think_there_are_some_people_supporting_the/

and some people who want to save BCH from becoming basically a fiat money type through stealing from the coinbase... but this is not the case We have some people who wants to divide and conquer, to destroy crypto in general, and some people who want sound money for the world. What you see, is anti sound money people purporting to support funding. Funding is good, not? Even when we have plenty software, funded the traditional free software way, people who get money _and_ other things from engaging ,,, like it has always been. We have plenty software. The ABC gang regard BCH as their property, rightfully deciding how it will be monetized ... like a startup venture, where the principles of sound money means nothing, and the eyeballs means everything. Get the eyeballs, sell it off to spineless venture capitalists, then let the future owners worry about the returns, which happen to be the straw in the coinbase. Fuck sound money, UX is everything. Well what will happen, is that all the supporters of funding, at 16th of May this year, the day after the upgrade, will turn on the satoshi and damn BCH for not being sound any more! Now, they swim like fish sucking air and swallowing the random insect, selling the funding meme, but when it is in, when some people start to pay the blood money to ABC, and nobody dare risk not following ... they will turn around, show their evil self and publicly destroy BCH - because it is not sound money any more. As opposed to BTC, and BSV, who have never hinted on a central bank stealing from the coinbase. Honeystly, I don't know what to to, other than be aware, and choose the sound branch if there is a split.

posted by /u/ErdoganTalk in /r/btc on April 22, 2020 20:48:25

https://www.reddit.com/r/btc/comments/fgwifw/what_does_currency_mean/

It is easy, it is the most loved currency in an area. You can make this experiment, but you don't really have to, because you know the answer already. You have some mexican pesos paper cash, some usd paper cash, a dollar denominated visa card, and a bitcoin cash wallet with plenty bitcoin cash. You have your own preferences for what kind of money you prefer to pay with, in this case it would be 1 bitcoin cash, 2 mexican peso, 3 the card and 4 the usd cash. The reasons are your own, but for instance you have a small amount of paper usd, just in case, always in your wallet, but you don't really want to spend them, because then you will have the hassle of getting new ones. What is currency is defined by the buyer and the seller together. Now you want to buy a beer, and these things would happen: You find yourself in Mexico, and you ask the server what payments he prefers. He will say mexican peso paper. He could take the dollar paper, but would complain maybe that his vendor wants pesos, so that would be easier, he could take the card, if he had a card machine. When you ask about bitcoin cash, he would probably not understand what it is. If you do the same in the united states, the waiter would probably prefer the card, next the dollar cash. If you do the same in sweden, the waiter would say "we only take cards". So now you now what is currency in those countries. This one is interesting: If you ask in Bitcoin Coffe in Praha, Czech Republic, you would get this: No Bitcoin Cash unfortunately, but Bitcoin BTC -- and by the way do you have Litecoin? It has low fees. So in that place, Bitcoin BTC is the currency, but limited by the walls of the venue.

posted by /u/ErdoganTalk in /r/btc on March 11, 2020 08:40:57

https://www.reddit.com/r/btc/comments/fc1lji/protect_yourself_from_consumer_inflation/

This is relevant for people who have money in reserve for a rainy day, or for some planned expense in the future. I just want to shed light on it with some actual numbers. You can also use investment, or diverse funds, but this is for those who have money, and almost everybody have some amount small or large. Starting out with USD users. The consumer inflation is 2%, but this is the Fed's preferred rate, and it is important for investors and analysts. The actual rate of price inflation for you and your personal mix of consumer goods and services can be quite different. You can try to estimate it, if you remember, or have accounts of your spending last year. For most people it will be higher, my guess at least 5%, and for some, 10%. All of this depends on your life situation and spending preferences. We are interested in the future price inflation of course. In smaller countries you can see the USD rate of the local currency change first, then price inflation will come later. Here is an example from South Africa, one of the least backwards countries in Africa: https://www.tradingview.com/symbols/USDZAR. You see that 14.24 a year ago, now 15.62. This is a devaluation compared to the USD of 9.7%. Since most smaller countries import a large part of their consumables, this is a driver for local price inflation. It depends on many things, so you can not just add them together. The reality is that in many countries, you can expect or risk a consumer price inflation of 5 - 20%, and that is not hyperinflation, that is rather a normality. Now how can you counter it with sound money? We can expect the value of coins to increase by 100% over a year. It did not happen last year and the year befor that, but if you look at history, it has been far better, so it is a very real possibility. The volatility is a risk, and you take care of that risk by not having all your savings in crypto. So how much do you need to have, to counter the risk of inflation of your local currency? Even with an expected 20% consumer price increase in local currency, You need only 1/5 in crypto. Example with a save amount of 10000 ZAR: Local currency down 20% in value: 8000*20/100 = 1600 (you lose that) Crypto 2000 up 2000*100/100 = 2000 (you win that). Due to all the risk, uncertainty and organic price changes, it is not necessary to find the exact formula. This example shows that even with a low amount like 20% allocated to crypto, you can completely counter the local currency depreciation. If you want even less crypto risk, you can diversify between BTC, ETH, BCH, BSV, LTC and ETC, and learn something about those coins. Or you can have a lower allocation, like 10%, it reduces the risk, for a slighly smaller inflation protection effect.

posted by /u/ErdoganTalk in /r/btc on March 1, 2020 17:10:22

https://www.reddit.com/r/btc/comments/f98xb7/let_me_tell_you_how_the_modern_trading_site/

I used localbitcoins.com at the time there was only BTC, but see my answer to this guy: https://www.reddit.com/r/btc/comments/f8ygnl/localbitcoins_has_blocked/ For meetings, it is in fact good enough, because you can meet, cancel the trade and do the whole thing manually. So let me describe the new and modern https://local.bitcoin.com/ It has the function of bringing people who want to trade together. For this site, there is no requirement to give any personal information. Phone number is practical, because the site sends an SMS when someone responds to your offer. They ask for e-mail when you sign up, but it can be a throwaway account, they use the e-mail only for advertising. I have gotten exactly one e-mail from them, after an upgrade of the site. Here is the modern stuff: When you sign up, you get a wallet. You need to back up this, and it is different from other sites, you save a file to your device. The point is that it is your wallet, you have the keys (I belive the site also has, because it operates on the wallet when you click on the buy, sell, fund escrow, release escrow and send buttons). When a trade starts, you go into a smart contract, and the result is: The seller of coins locks the coins in escrow, which is a guarantee to the buyer, the fees are locked in, and an arbitration fee if the trade comes into dispute. When you release escrow, the result goes to the other wallets involved, the buyer and the site for fees. In case of dispute, the dispute fee goes to the arbitrator, but as the contract is designed, he can only assign the trade amount to either of the traders, not to himself. This means it is safe for payment with any nonreversible method, for instance bank transfer or mobile money. The fee is 0.25 % for the maker and 0.75% for the taker, total 1%. I think it is well worth it, for the safety and also for the calculation of the right amounts, if you do it manually it is easy to for instance sell for a percentage below, instead of above the market rate. Then the spread, if there are few offerers, the price can be say 10% above, and the buying price 10% below. This improves with more traders, but you can also take advantage by being the maker and having one or more offers up.

posted by /u/ErdoganTalk in /r/btc on February 25, 2020 06:31:33

https://www.reddit.com/r/btc/comments/f8ps1l/the_two_problems_the_tax_and_the_entitlements/

The developer tax (see below for the use of the tax word) gives us two problems, both serious, essential, you could say existential. **The tax:** What the miners pay: Nothing, it is not a problem for them, nobody pays more, no problem for anybody. Hash cost reduced, hash power reduced. Is it a problem? Not in itself, the block subsidy schedule was made 11 years ago, nobody knew todays coinprice at the time. It is probably good enough, but: We have more than one coin on the same equipment, the world investment in sha256 hashing special machines. However, the balance between the coins is important, and for that reason we can not renounce any hashpower. And the killer: It makes the coin unsound - someone is eating from our plate, parasites sucking life energy from every user of bitcoin cash. Sound money means nobody get coins on the cheap. Today the proposal is 5% of the subsidy and 5% of the fees. Why fees, they are hardly 2 dollars a block. What kind of money are we talking about? After the halving, 6.25 BCH subsidy, and 5% is 0.3125 BCH per block. In fiat today 121.5 USD per block. 727 USD per hour 17460 USD per day, 532800 USD per month or 6372900 USD per year. That was todays prices. In a year, it could easily be a million USD per month, in two years it could easily be two million USD a month. **The entitlements:** So someone has to manage this. I would guess a developer, just like everybody, will have some certainty, so a fund will be created to stack up some of it for the future. Maybe half the money each month will be accumulated. Then there is the question of what to invest in. In four years there will be another halving, cutting the subsidy that at that point is maybe 8 million a month, in two. Will the tax be increased to 10 percent? Who will have it? The amount would cover 100 full time and part time developers, can they be crammed into the project, or is there a need to find other good purposes, retired programmers, anyone? Repairing losses for users of crashed exchanges? A Satoshi birthday celebration in Davos? Who would manage this fund, how will they work? The answer is very simple: At first, people with good intentions. Then others who will want to join the yearly coin discussion, hotels and food events on a Caribean island. Then the general parasites. Salary. Chief Investment Executive. Bonuses. We created all this value you know, so we deserve it. Then the whole shebang will be connected near the top of the banking cartel power pyramid. How can it end otherwise? It can't. These people, with the money and some dirty tricks, can control every developer, the press, every public voice in the blogosphere, rewrite history, block anybody in the social media, hire thousands of trolls, they can represent the coin with the bank regulators. The tax word: It is a tax only if you regard the small world of Bitcoin Cash and the current actual single implementation node version, Bitcoin ABC. On a higher level, the market level, because this is free market money, there is no tax, because the chain can split, directed by the market which expresses it's preference with pricing. There are also alternative coins that could work as sound money: The coin made by those who believe it can't work, and the other coin from those who believe it can work so well that it can swallow the whole internet See also my https://read.cash/@ErdoganTalk/the-soundness-the-essential-feature-of-the-money-that-we-want-0a10a11f

posted by /u/ErdoganTalk in /r/btc on February 24, 2020 06:15:10

https://www.reddit.com/r/btc/comments/f7t456/the_soundness_the_essential_feature_of_the_money/

It is the *cost* of mining that adjusts to the coin price, not the other way round. It is a common fallacy to believe that the price comes from the cost to produce something, it is called the labour value of theory, and it has been shown to be wrong. This is demonstrated clearly with bitcoin, which is a rather clean experiment, because it adjusts so quicly. The market finds the right price with someone offering to sell coins, other to buy coins, the hashing cost follows. And also it is the *cost* of mining, not the hashrate, that is decided by the value of the coins. With gold it is the same. Some people in the gold bug community understands this, and they can show that the production increases with the increasing market value of gold. It is not so clear, because the investment needed for gold production is so large, but if you compare price and production volume (in gold there is no difficulty adjustment, so produced volume will increase), you can see that there is a delay of about 10 years, understood to be 5 years to make the investment decision, then another 5 years to actually develop a new mine. The cost increases for the new mines because they use slightly less rich deposits, and the mines with better richness will increase their cost by more expensive land cost, more tax. higher labour prices and other cost driving factors. Likewise, the profit can change a lot but will slowly converge to the general profit level, which has its roots in the time preference. With this mechanism, nobody gets free gold, you have to buy it or mine it for approximately the same cost. As in bitcoin, anybody can mine, and gold is everywhere, it is in the ground you stand on right now, not rich enough currently to extract it, but it could be done. There is no need for a central bank for gold, and this lack of a need for an authority is what makes the gold sound. The role of the difficulty adjustment is to decide a timeframe for the initial distribution of coins (with the halving plan), and to have a predetermined block time, which is needed for payments. It is not fundamental for the soundness. The soundness is that nobody gets coins for free, and the resulting lack of need of an authority. So what would happen if there was no difficulty adjustment? This is a thought experiment, but it can be useful for the understanding. With increased coin price, the miners would put more effort into mining, and the time between blocks would decrease (block rate increases). It would go down to one minute, a few seconds, and we would get lots of orphans and reorgs. We would end up with miners producin hundreds of blocks per second, and finding a block is for a miner just half the work, because most of the blocks he finds will be abandoned, the effort wasted, adding to his cost. But the coin would still be sound. The halvings would come weekly, and all coins will be mined in the short time, but the cost of newfound coins would be the same as now, approximately the market price. We need the difficulty for various reasons, to stretch out the coin creation, and give the market time to adapt, and to make sure we have a reasonable block frequency for the payment function. Summa summarum, the difficulty adjustment is needed, but it is not essential to the soundness. I could construct examples from production of consumer goods that show the same, first value from consumer preferences, then the cost follows.

posted by /u/ErdoganTalk in /r/btc on February 22, 2020 09:21:26

https://www.reddit.com/r/btc/comments/ey62pd/bch_and_btc_another_way_of_saying_it/

Bitcoin is good, exactly what we wanted, based on an invention on how to make it work without a controlling organization. That is still true for both branches of the fork, but for some reason, the BTC guys have decided, and they got the market to follow, to constrain the capacity. It was an idea that bitcoin could not work as originally designed. But many oltidmers, me included, do not agree, we discussed this for 3 years without an agreement, end it ended with a chainsplit nearly 3 years ago. So bitcoin cash is just like the old bitcoin, even cleaner, because the split occurred just before segwit. So in my opinion, all is well, bitcoin lives on with bitcoin cash BCH, we only need the market to follow. But that will happen when we again get a slew of new users, after the bubble two years ago and the fall in value. When we get the new users, it will be clear to everybody what it means to have the capacity constrained at 4-6 transactions per second. It follows that I do not agree that bitcoin cash is less decentralized in any way, in fact both are ultimately decentralized, there is no imaginable attack point from governments, the whole ecosystem including miners. Each entity is attackable, but any attack will result in splintering into many small units, when one miner is conquered, another springs up, like whack a mole. Also, BTC's attempt to replace the capacity with second layer systems is not practical in my opinion, the second layer systems like lightning is not as acceptable for users as the base system, by far. So it is really not the point of being right, it is rather what the market will say in the future, when it doubles or quadruples in users, which will be soon in my opinion

posted by /u/ErdoganTalk in /r/btc on February 3, 2020 06:54:14

https://www.reddit.com/r/btc/comments/eunq7y/a_cartel_in_the_market/

The purpose is to get a monopoly by banding together. This is sometimes called cooperation, the purpose is to earn more by either fixing prices or reducing supply. It is bad, if it is supported by the state, by laws and regulations with coercive actions againts those that break the cartel rules. If it is done in the market, it is probably benign, and anyway, the cartel can not do much to the detriment of the customers, it can do just a little. The reasons for this: A submarket, what the cartel concerns itself about, is never well defined. There is always a possibility of spillover. The more successful the cartel is, in increasing the profit, the more pressure there is on the inside, to cheat, either with prices or amounts. Therefore there is a limit to how much can be achieved. The more successful the cartel is, the more profitable it is to be outside the cartel, they can sell as much as they want for slightly less than the cartel price. Therefore the size of the cartel is held in check, it can even collapse. So that is three mechanisms, and it works only under market conditions, not with coercion. With coercion, as in all intervention in the market, value creation is reduced, destroyed, or turned into value destruction. There are a lot of state backed cartels around, with a varying degree of intrusion, hairdresser licensing, import restrictions, taxi medallions, farm subsidies, electrical power suppliers and so on. As a rule of thumb, every value creating business which by it's nature have capital or open sales of a type where it is easy for robbers to intrude, will have interventions of some kind. Then there is the world trading scene, where there is no obvious power entity to control it, because there is no world government, and also according to the cartel mechanisms above, there can probably not be. Examples: The oil cartel can move oil prices, or can they? All members are eager to fix the amounts, still all members cheat with the volumes and the prices. The coercive powers are limited A cartel of taxis can increase the prices, but it is only transport, and it spills over to walking, buses and personal car transport, we have all driven a friend to the airport, as an alternative to taxi transport. Henry Ford was very aware, that even with a near monopoly on car production, he could not exploit that position to take extraordinary profits, because there were hundreds of competitors that were eager and ready to supply, and with a higher car price it would be easier for them to produce with profit and get the capital needed to expand. As an example of a cartel of the type setting standards, is the fax industry. Almost overnight, the product was transformed from being useful only to world wide enterprises, to everybody, it was even used to order takeaway. (This was before text messaging and the web). In crypto, there is possibility of spillover, to the remaining branch after a chain split, to some other established coin, or to something new. Finally, let me just describe the mining business as extraordinarily competitive. It can be done everywhere, in any jusrisdiction, it can take advantage of lower power prices, lower power distribution prices, lower work prices, lower ambient temperature, everything that can give an edge. Even taking advantage of subsidised power, even stolen power, even the police will run the mining rigs after confiscation of a mining plant, and I doubt they pay for power when doing it. So the development towards a mining monopoly or an association of people forming a monopoly, also called a cartel, where that cartel can do much of anything to the detriment of the systems users, is totally out of the question for bitcoin mining,

posted by /u/ErdoganTalk in /r/btc on January 27, 2020 08:14:26

https://www.reddit.com/r/btc/comments/emz8wm/who_pays_for_the_system/

Lets just recalculate the fee of a standard transaction: 1. Length of a simple transaction: 223 bytes 2. Standard fee: 1 sat/B 3. Current coin price: 260 USD Fee: 223 sat / 100000000 sat/BCH * 264 USD/BCH = 0,0005798 USD, or less than a tenth of a cent Since we currently are far from physical limitations, the market tells us that this is close to cost of production of each transaction. This is the number that we should compare to the price of the current money transfer systems (there is a price to card transactions, bank transfers and also paper cash transfers) We should also admit that the user himself also have to expend some cost, for bitcoin that is the phone, the network service and some power. The user's cost is possibly larger for bitcoin than for legacy systems. So who pays the rest of the miner cost, which is the block subsidy? That is paid by the current holders of any amount of cash balance. The holders pay this cost in the form of coin number inflation. It is difficult to observe the effect of the rising number of coins, because the coin price is overshadowed by changes in the demand. So lets just recap what the demand is: Every individuals urge to hold a number of coins, and to which price. So it can not be expressed with a single variable, it is a set of amount/price pairs, or a curve. Then aggregate these price pairs for every potential user. When a user want more coins for a price, or less, or a new user comes in and want some coins for a price, or an old user leaves, it changes the demand and therefore the price. The reason for the demand is only speculative, since there is no point in consuming coins. The demand curve is the most important input to the price, in addition to the less important inflation from block subsidy, and some lost coins.

posted by /u/ErdoganTalk in /r/btc on January 10, 2020 18:36:32

https://www.reddit.com/r/btc/comments/ekoo92/there_exists_this_misconception_that_the_state/

This is not true The society, different from the state or the nation, is the people around you, your neighbours, your relatives, your friends and your business partners (including the shop owners and your service providers). This is normally a pleasant and peaceful environment, where people do no harm and look out for each other. A few criminal elements exist, they will be hindered, by disassociation from the normal people. The law of non violence exist in such society, because it is value creating and not value destroying, known for millennia, and it has possibly made its way into the human genes. Remember your wise mothers advice: Don't steal, make yourself useful. It is really all that is necessary to have a happy and successful life. With the state leaders, it is not so. They are recruited from the few criminal elements that always exist. Naturally, they would be isolated, but under some conditions, the smarter ones are able to fool the public. They don't sacrifice their life for the sake of the public, which is unnatural and impossible anyway. They do what they do for their own sake. The driver is the sick (seen from a normal persons view) mind, they like to see that they can control the flock, making it do crazy and destructive things. Also being famous and hailed. They also like to control individuals, making them give away resources and sex for nothing, harming them in stead, ducking them down, making them less. The purpose of such leaders are not to create a great society, the opposite, to make everybody poor, create strife and desperation. When hungry and desperate, normal people may break, do irrational things, create a cult where they isolate themselves from information and discourse, strengthening the crazyness, forming a power base for the leader. Putting the worst people on pedestals, and follow orders blindly. This is what every leader wants. These days, the state apparatuses around the world are stronger than ever. The reason is the bad money, it is occult (hidden), and it transfers value that people create over to the leaders. It is an epic swindle. Sound money is the antithesis of the bad fiat money. It can not change the bad people and make them better. What it can do, is to end the scam, removing some resources from the elite, those resources being kept by the commoners, and by leaving more with the value creating public, more can also be created with the added savings and investments. And most important, with a prosperous, peaceful society, fewer people will break. The state will probably continue to exist, but weaker. The market fixes all problems, but only half way lol. The whole thing rests on every individual, not any leader. Don't wait for the leader to magically succeed with making things better, it is up to you. You can refuse to follow orders, and you can refuse to support the criminals with money and words. You don't need to fuck the soldiers! Follow your mothers advice. And here is a bonus advice from me: If you are hungry and have a gun, sell the gun, instead of going into the robbery business. In addition to self interest, this is my purpose of supporting sound money. Gold is good, but it is hopeless to expect gold to be used in day to day trade. Cryptomoney can do it, because of its near perfect properties as money,

posted by /u/ErdoganTalk in /r/btc on January 5, 2020 23:17:35

https://www.reddit.com/r/argentina/comments/ekojpc/there_exists_this_misconception_that_the_state/

This is not true The society, different from the state or the nation, is the people around you, your neighbours, your relatives, your friends and your business partners (including the shop owners and your service providers). This is normally a pleasant and peaceful environment, where people do no harm and look out for each other. A few criminal elements exist, they will be hindered, by disassociation from the normal people. The law of non violence exist in such society, because it is value creating and not value destroying, known for millennia, and it has possibly made its way into the human genes. Remember your wise mothers advice: Don't steal, make yourself useful. It is really all that is necessary to have a happy and successful life. With the state leaders, it is not so. They are recruited from the few criminal elements that always exist. Naturally, they would be isolated, but under some conditions, the smarter ones are able to fool the public. They don't sacrifice their life for the sake of the public, which is unnatural and impossible anyway. They do what they do for their own sake. The driver is the sick (seen from a normal persons view) mind, they like to see that they can control the flock, making it do crazy and destructive things. Also being famous and hailed. They also like to control individuals, making them give away resources and sex for nothing, harming them in stead, ducking them down, making them less. The purpose of such leaders are not to create a great society, the opposite, to make everybody poor, create strife and desperation. When hungry and desperate, normal people may break, do irrational things, create a cult where they isolate themselves from information and discourse, strengthening the crazyness, forming a power base for the leader. Putting the worst people on pedestals, and follow orders blindly. This is what every leader wants. These days, the state apparatuses around the world are stronger than ever. The reason is the bad money, it is occult (hidden), and it transfers value that people create over to the leaders. It is an epic swindle. Sound money is the antithesis of the bad fiat money. It can not change the bad people and make them better. What it can do, is to end the scam, removing some resources from the elite, those resources being kept by the commoners, and by leaving more with the value creating public, more can also be created with the added savings and investments. And most important, with a prosperous, peaceful society, fewer people will break. The state will probably continue to exist, but weaker. The market fixes all problems, but only half way lol. The whole thing rests on every individual, not any leader. Don't wait for the leader to magically succeed with making things better, it is up to you. You can refuse to follow orders, and you can refuse to support the criminals with money and words. You don't need to fuck the soldiers! Follow your mothers advice. And here is a bonus advice from me: If you are hungry and have a gun, sell the gun, instead of going into the robbery business. In addition to self interest, this is my purpose of supporting sound money. Gold is good, but it is hopeless to expect gold to be used in day to day trade. Cryptomoney can do it, because of its near perfect properties as money,

posted by /u/ErdoganTalk in /r/argentina on January 5, 2020 23:07:10

https://www.reddit.com/r/lebanon/comments/ekj2iv/safeguarding_your_money_value/

I suggest to keep a small amount in bitcoin cash BCH. It is not an investment, it is like having some dollars but more risky. Since it is sound money, and currently used by few people, the expectation (in business sense, the risk allocated to different outcomes) is positive (relative to both dollar and actual merchandise, the dollar still has an expectation of losing against consumer goods by 5-10% per year). And the drums of war does not help. It is white in the sense that you can report it if you want, if you don't want, it is like the blue dollar, which means it is difficult to buy a big ticket item like house or car. I recommend a lower amount, corresponding to a few hundred or a few thousand dollars. There is no lower limit. For the time being, it is also less liquid than the dollar, but the liquidity is expected to improve greatly. You can get it on exchanges with bank payment, or you can get it in the local market person to person, see https://local.bitcoin.com/offers/Lebanon When you have the bitcoin cash, you keep it in your phone, there is no broker or custodian you need to trust. Sound money means there is noone to create new units on the cheap. The creation that is going on, for the purpose of establishing the system and distribute to the users, is costly: real resources have to be spent approximately costing the same as buying coins at the current price. This is similar to gold as money. If you are confused by the two relevant types of bitcoin: Bitcoin BTC and Bitcoin Cash BCH, ask me.

posted by /u/ErdoganTalk in /r/lebanon on January 5, 2020 16:02:48

https://www.reddit.com/r/btc/comments/ekh0dc/por_jactarse_jajaja/

Sugiero mantener una pequeña cantidad en bitcoin cash BCH. No es una inversión, es como tener algunos dólares pero más arriesgado. Dado que es dinero sólido, y actualmente lo utilizan pocas personas, la expectativa (en sentido comercial, el riesgo asignado a diferentes resultados) es positiva (en relación con el dólar y la mercancía real, el dólar todavía tiene la expectativa de perder frente a los bienes de consumo en un 5-10% por año) Es blanco en el sentido de que puede informarlo si lo desea, si no lo desea es como el dólar negro, lo que significa que es difícil comprar un artículo de gran valor como la casa o el automóvil. Recomiendo una cantidad menor, que corresponde a unos cientos o unos miles de dólares. No hay límite inferior. Por el momento, también es menos líquido que el dólar, pero se espera que la liquidez mejore considerablemente. Puede obtenerlo en intercambios con pago bancario, o puede obtenerlo en el mercado local de persona a persona, consulte https://local.bitcoin.com/offers/Argentina Cuando tiene el efectivo de bitcoin, lo guarda en su teléfono, no hay un corredor o custodio en el que deba confiar. El dinero sólido significa que no hay nadie para crear nuevas unidades a bajo precio. La creación que se está llevando a cabo, con el fin de establecer el sistema y distribuirla a los usuarios, es costosa, se deben gastar recursos reales que cuestan aproximadamente lo mismo que comprar monedas al precio actual. Esto es similar al oro como dinero. Si está confundido por los dos tipos relevantes de bitcoin: Bitcoin BTC y Bitcoin Cash BCH, pregúnteme.

posted by /u/ErdoganTalk in /r/btc on January 5, 2020 13:39:40

https://www.reddit.com/r/btc/comments/ej7hrk/localbitcoincom_wallet_security/

The wallet is your own, you have the secrets. It can be downloaded as a security backup. It does not appear to be a standard hierarchical deterministic wallet, more like a base key and a single string of next keys. So I to recover a lost wallet, you probably have to use the site. On the other hand, you can download the secret key for each address used. Better documentation of recovery procedures would be most welcome. We have to rely on the site's server software for generation of keys and keeping them. It could in theory be done all in browser side software, not available to the server, but they have not explicitly said that this is the case. Anyway, since it is web based, this could be changed from one click to another on the site. Of note is the escrow, it is implemented as a smart contract, so the arbitrator comes in as a third party when either of the traders open a dispute, but the arbitrator does not have the traders' keys, and according to the contract, he can only release the coins to one of the traders. The trust needed as explained above applies of course A separate program executed locally, like bisq, would be slightly safer, because you can verify the code and control the updates, realistically to a degree. But nothing trumps a separate, simplistic, device to keep your secrets, like the trezor or the ledger. Edit: Just tried to import an individual key into electron cash - it works

posted by /u/ErdoganTalk in /r/btc on January 2, 2020 19:55:16

https://www.reddit.com/r/btc/comments/eg4495/how_they_fleece_you/

I like the credit card debt. The interest is from 20% to 80%, reflecting the real cost of risk and money devaluation (but see below for money unit creation). Some people don't pay back, some do. It increases in volume slightly, but it is not galloping, so some pay back, and the issuer can have an average profit. They lend money and hope that the debtor can and wants to pay back. Most loans are regulated some way. Like student loans - the debtor has not shown any capacity to pay back, still they are given to everybody. Clearly, the risk is paid for by someone else, and that could be you! The same with mortgages, the state is heavily involved. The low interest rate is the result of money creation, and it distorts all calculations, to their benefit, not yours. All interest today can be regarded as usury - because it is not earned money they lend out. Most is created by fractional reserve banking, a practise that was made legal a couple of hundred years ago, before that, it was regarded as a crime. When it came to light among the bankers in Venezia, the depositors got furious and broke the bankers bench, they literally went bankrupt, their bank/bench was left in pieces in the agora. This is all hidden, and the initial scam is the central bank: A broke banker colluded with the broke state, the broke banker lent nonexisting money to the state on the condition that the state deposited the same nonexisting money in the bank. Now the bank had reserves, and could start taking deposits, and lending out to the public. From nothing. Now the state/bankers depend on perpetuating this. The money unit number has to increase all the time. It is not to your advantage, it is for the purpose of the bankers. They need the ability to create more units, by writing a higher number on their own account and multiplying it with fractional reserve. Bitcoin puts a stop to this, because you can not write that higher number into your own account. But they have gold! Well do they huh? With every failed state we see that there is no gold. The only reason for a state to have gold, is for the fallen leaders to run away with a bar or two when they are chased out of the place. Do they facilitate payments in an efficient way to the benefit of the customers? Well they have clumsy systems, and since there are infighting, we have different fiats. It is almost impossible for the user to see all the hidden costs. The spread in exchange for instance. One way to look at it, is the size of the world profits that is in banking. It is somewhere between 20% and 30% of all value creation. We have miniscule city states that do nothing more than finance, and they are the most prosperous places. So getting hold of a few coins and relax knowing that you have something in reserve for a rainy day, that is not stealing from future adopter is not unfair, that is how money should work, and did work, before the fiats.

posted by /u/ErdoganTalk in /r/btc on December 26, 2019 20:16:28
Top
/r/btc/comments/ivhmjq/bitcoin_cash_is_not_the_bitcoin_they_know/g5sdjc8/

The market cap is a good indicator of how popular the coin is, weighed on the whaleness, or how much people have in savings. If you believe the coin will increase in popularity in the future, I see no reason not to act on that, and increased coin value is also attractive. In the end, the idea of sound money is that its value will slowly increase (and in the implementation phase quickly). Bitcoin Cash is sound money and if people want to save in that coin, there is no problem. The important thing for us is to make sure it is and will continue to be the best coin for daily use.

Commented by /u/ErdoganTalk in /r/btc on September 19, 2020 01:41:52
/r/btc/comments/ivlqdc/sincerely_hope_that_the_toolongmempoolchain_limit/g5scdoh/

Right. As I see it, it can be done stepwise and does not require a hard fork and does not need a specific date for implementation like our half yearly upgrades. First, declare that there is no max chain length limit, and make sure there is a broad agreement on it. As we all know, our coin is defined as a chain of transactions. In the blockchain, there is no limit, a coin can originally have been created in the coinbase years ago, and have been joined and split with other coins thousands of times. The chain length limit has only the purpose of making the building of blocks by miners, from the published new transactions a little easier. In this process, a miner can not risk creating a block where one of the transactions in the chain is missing, because that block will end up being invalid. The problem is exacerbated by the random nature of arrival of new transactions, even more in a differentiated fee situation, and the validity of the whole length has to be assured repeatedly. Second, each implementation starts with the ability of verifying a published block with a long length, and if they have a limit then make that information public with the other code teams and the market. When you are presented with an incoming block, it is fairly easy to verify a long length, because the modern way of validation a block is a sequential process, verify all transaction outputs then verify all inputs. I guess all implementations could easily achieve unlimited length in this part of the process. Third, when the previous two points are widely achieved, it is a question of letting the implementation teams compete on the length in the process of creating new blocks, and publishing to the market how far they have come. It would not surprise me that someone will find a way to also create new blocks with unlimited chain length in a speedy way, if it has not already been invented. Not a programmer any more, so please tell me if there is something wrong with my thinking.

Commented by /u/ErdoganTalk in /r/btc on September 19, 2020 01:25:29
/r/btc/comments/iva9mx/imagine_thinking_that_a_peer_to_peer_electronic/g5qr7fm/

I am not too worried, new users will have to flow into other coins. For the time being that is Ethers, but that coin has capacity problem and other problems (like going partly proof of stake and relying on future complicated changes to the software that may not play out as planned. A fundamental problem in my opinion is that it is account based, as opposed to our chain of transactions). We have also got experience with forking, closing in on the real governing mechanism which is the market. So it is a waiting game, which of course is tiresome, but I have no doubt that we will eventually succeed and be the most valuable coin.

Commented by /u/ErdoganTalk in /r/btc on September 18, 2020 17:02:28
/r/btc/comments/ivbeal/defi_finance_but_not_always_decentralised/g5qpi74/

The biggest problem for defi in my opinion is that you still need a functioning court system to make for example loans and tokens to replace equity shares, and you sometimes need an oracle to decide parameters from outside the blockchain, which have eventually to be decided by some group of individuals. What can work right now are trading of tokens built on bch for bch. It can be made totally noncustodial with no authority outside the two traders involved.

Commented by /u/ErdoganTalk in /r/btc on September 18, 2020 16:49:41
/r/btc/comments/ivdk91/what_happens_with_btc_chain_after_the_block_size/g5qo8dq/

If we get more demand pressure for on chain transactions, which I believe we will get soon, small users will be forced out and new users will be denied. This is the main problem. The mechanism to push users out is the transaction fee, which is the secondary problem.

Commented by /u/ErdoganTalk in /r/btc on September 18, 2020 16:40:11
/r/btc/comments/ivbexd/problems_sending_funds_to_bitcoincom_wallet/g5qn8cn/

I suspect him of trying to paint bitcoin.com as a bad wallet, which is obviously untrue, for bch it is the quickest, easiest and most stable wallet IMO, for btc probably not the best.

Commented by /u/ErdoganTalk in /r/btc on September 18, 2020 16:32:52
/r/btc/comments/ivbexd/problems_sending_funds_to_bitcoincom_wallet/g5qcyds/

> what other conclusion is one inclined to make? Still the sending wallet.

Commented by /u/ErdoganTalk in /r/btc on September 18, 2020 15:11:08
/r/btc/comments/itrwa5/bch_wallet_problem_in_my_country/g5ht51p/

See also https://read.cash/@ErdoganTalk/let-me-tell-you-how-the-modern-trading-site-localbitcoincom-works-b4612b1e

Commented by /u/ErdoganTalk in /r/btc on September 16, 2020 14:07:40
/r/btc/comments/itsjbi/heartbreaking_embarrassing_demotivating_is_whats/g5hs9gb/

> what made it possible is strict censorship And now we have the experience from that time.

Commented by /u/ErdoganTalk in /r/btc on September 16, 2020 14:00:29
/r/btc/comments/itsjbi/heartbreaking_embarrassing_demotivating_is_whats/g5hqlyb/

It looks bright IMO, abc is out and we can go on with making Bitcoin Cash sound money for the world.

Commented by /u/ErdoganTalk in /r/btc on September 16, 2020 13:47:28
/r/btc/comments/isuki7/more_than_500_bch_have_been_sent_through/g5drzk0/

If you show how to search in the play store for bitcoin and show the icon and point out the black B, the upper half covered by green, the success rate increases.

Commented by /u/ErdoganTalk in /r/btc on September 15, 2020 14:08:09
/r/btc/comments/it5l63/will_bitcoin_miners_allow_a_rogue_development/g5cnspu/

The IFP will only reduce BCH mining after the whole thing rebalances, the difficulty and the mining investment.

Commented by /u/ErdoganTalk in /r/btc on September 15, 2020 09:06:13
/r/btc/comments/isbu18/help_me_to_spread_awareness_about_bitcoin_cash_in/g57eubc/

Where is your flipstarter page?

Commented by /u/ErdoganTalk in /r/btc on September 14, 2020 01:41:31
/r/btc/comments/iq8ial/best_way_to_periodically_buy_btc/g4t7rui/

Keep the coins offchain on a custodial exchange to avoid fees

Commented by /u/ErdoganTalk in /r/btc on September 11, 2020 06:34:31
/r/btc/comments/iqig63/free_victoria_australia_oppressed_by_a_dictator/g4t3pld/

I thought Australia was an old America wannabee, but it turned out to be a Khmer Rouge wannabee.

Commented by /u/ErdoganTalk in /r/btc on September 11, 2020 05:20:02
/r/btc/comments/iq66wp/havent_waited_on_a_bitcoin_transaction_to_confirm/g4pdnjn/

Yes, the capacity is the problem, the fees required is only a consequence.

Commented by /u/ErdoganTalk in /r/btc on September 10, 2020 12:26:29
/r/btc/comments/iq08ap/after_we_have_rejected_the_ifp_tax_bitcoin_cash/g4p9vs3/

> Turing complete This is a nonsensical theoretical problem with no consequence for real life. Just ignore it.

Commented by /u/ErdoganTalk in /r/btc on September 10, 2020 12:05:38
/r/btc/comments/iq08ap/after_we_have_rejected_the_ifp_tax_bitcoin_cash/g4p9j3f/

Yes the limit for BCH should be unlimited, and implementations should compete on the max size they can handle, starting with what they can verify. IMO, verifying a larger block is far easier than building a larger block. Unlimited capacity is a good marketing point. (Some people call us medium blockers for fucks sake. Take away that selling point from the competition)

Commented by /u/ErdoganTalk in /r/btc on September 10, 2020 12:03:22
/r/btc/comments/iq08ap/after_we_have_rejected_the_ifp_tax_bitcoin_cash/g4p909t/

> we can pump weather data I think just filling up blocks is no good. Persons, individuals, who both get to understand it and find it useful for themselves.

Commented by /u/ErdoganTalk in /r/btc on September 10, 2020 12:00:48
/r/btc/comments/iq08ap/after_we_have_rejected_the_ifp_tax_bitcoin_cash/g4p81a1/

But experience says it is too late when the fiat system already has tanked. Sad fact. People are always to late in abandoning their own sinking fiat. I have introduced hundreds of lebanese, but look at https://local.bitcoin.com/offers/Lebanon, there is nothing there.

Commented by /u/ErdoganTalk in /r/btc on September 10, 2020 11:55:40
/r/btc/comments/iq25m0/ledger_trezor_old_phone_or_new_laptop_for_storing/g4o1ghx/

I think a trezor is better than a paper wallet, because even when you spend from it, you don't reveal any secret to an internet connected device. With the hacks you mentioned, you need to hide or lock in the trezor when not in use, and you need to use a seed extension (called a password). The ledger is also useful, but I don't know it.

Commented by /u/ErdoganTalk in /r/btc on September 10, 2020 08:37:05
/r/btc/comments/iq08ap/after_we_have_rejected_the_ifp_tax_bitcoin_cash/g4nra8t/

More users we need. People who understands it is money not just a number on the screen.

Commented by /u/ErdoganTalk in /r/btc on September 10, 2020 07:35:04
/r/btc/comments/ipywz1/flipstarter_questions/g4nqkfz/

hehe, yes

Commented by /u/ErdoganTalk in /r/btc on September 10, 2020 07:30:35
/r/btc/comments/ipywz1/flipstarter_questions/g4nccrv/

I agree, but the flipstarter works according to the theory of "a trustless and non-custodial assurance contract.", see https://read.cash/@flipstarter/introducing-flipstarter-695d4d50 I guess in theory, the Electron Cash flipstarter plugin could be improved to watch for the success transaction and put on descriptions, unfreeze unsuccessful flipstarter pledges and so on, but I am not going to ask for that.

Commented by /u/ErdoganTalk in /r/btc on September 10, 2020 05:48:32
/r/btc/comments/ipywz1/flipstarter_questions/g4n5gr9/

When a flipstarter successfully completes, you see an outgoing transaction from your wallet with no comment, which you did not initiate yourself, and that is a bit confusing. It is smart to change the comment, to include the relevant flipstarter page and the date of expiration.

Commented by /u/ErdoganTalk in /r/btc on September 10, 2020 04:54:30
/r/btc/comments/ipywz1/flipstarter_questions/g4n3u8x/

First Q: The transaction is market with the flipstarter commment, therefore both outputs, the pledge and the change output. Only the pledge is frozen. Second Q: Yes you manually unfreeze it and spend it to yourself. Third Q: No, you have to manually unfreeze it.

Commented by /u/ErdoganTalk in /r/btc on September 10, 2020 04:42:14
/r/btc/comments/io6mmm/to_my_great_shock_i_woke_up_one_day_and/g4j8y1v/

That was a yes to the abc branch of the chain as I understand it

Commented by /u/ErdoganTalk in /r/btc on September 9, 2020 06:40:03
/r/btc/comments/ip0dho/can_we_talk_about_the_safest_and_simplest_way_to/g4h6asb/

Don't know the purpose of referencing this, the no-IFP chain is set to be the longest.

Commented by /u/ErdoganTalk in /r/btc on September 8, 2020 16:30:35
/r/btc/comments/ip0dho/can_we_talk_about_the_safest_and_simplest_way_to/g4h603y/

It is best to just soldier ahead without implementing some special rule to impose a split. As it looks now, it is not necessary, the no-IFP chain will be the longest (as defined in the original protocol, the branch with most work).

Commented by /u/ErdoganTalk in /r/btc on September 8, 2020 16:28:11
/r/btc/comments/ip0dho/can_we_talk_about_the_safest_and_simplest_way_to/g4h2yx4/

Only in the abc chain. If IFP blocks are mixed into the no-IFP chain (only one block according to the newly invented abc-only "consensus rules"), the IFP block miner(s) will lose.

Commented by /u/ErdoganTalk in /r/btc on September 8, 2020 16:03:14
/r/btc/comments/ip0dho/can_we_talk_about_the_safest_and_simplest_way_to/g4h07hw/

Number 1 right. Number 2, replay protection, we don't have it and both sides want the other side to implement it, so not much hope until months later at least.

Commented by /u/ErdoganTalk in /r/btc on September 8, 2020 15:40:34
/r/btc/comments/iokzuw/adoption_this_el_salvador_village_adopts_bitcoin/g4gz4it/

> Not only that but if the money dries up the people will be in a worse spot than before. Yes, just like the problem of feeding wild animals, you make them slaves.

Commented by /u/ErdoganTalk in /r/btc on September 8, 2020 15:31:35
/r/btc/comments/io5w7p/to_solve_the_abcbchn_fork_issue_cant_bchn_force/g4fjhe4/

> This is why I feel that BCHN should make their side hard fork too. A single individual miner can still do it with standard functions in the software The outlook in my opinion is that we can have some IFP blocks in the chain, but no IFP block that has orphaned a block for the sole reason that it does not have IFP. (Obviously only one IFP block if abc miners slavishly follow the private abc consensus).

Commented by /u/ErdoganTalk in /r/btc on September 8, 2020 07:23:36
/r/btc/comments/io632f/paying_taxes_with_bitcoin_will_be_possible_in/g4fj2lj/

Not paying taxes is also possible.

Commented by /u/ErdoganTalk in /r/btc on September 8, 2020 07:17:14
/r/btc/comments/io6mmm/to_my_great_shock_i_woke_up_one_day_and/g4fixsz/

Are you still firmly on the abc side? Just curious.

Commented by /u/ErdoganTalk in /r/btc on September 8, 2020 07:15:10
/r/btc/comments/io9llv/thoughts_on_ownership_of_bitcoins/g4fggcz/

You cant own the number 7 or the number pi, but you can own a random, large number as long as you keep it to yourself. Therefore you own a coin, an unspent transaction output, because you control it via the secret number. So, you are correct.

Commented by /u/ErdoganTalk in /r/btc on September 8, 2020 06:33:15
/r/btc/comments/iokzuw/adoption_this_el_salvador_village_adopts_bitcoin/g4fc5dn/

Interesting, because in stead of onboarding random people who will be somewhat lonely in their bitcoin interest for the time being, they try to onboard everybody in a relatively small area, to be a self fueling hotspot. Also special to this project, at the bottom of it is a very large (unspecified) donation, and a system of grants. It don't mind someone doing this, but the interest in crypto can fade after the grants are consumed. I prefer the organic growth, starting with people who see an advantage, even with the current low liquidity, which improves the liquidity and therefore opens new ways to use it and more individuals find it useful. Every step in the process fed with rational self interested individuals. It is sustainable, and is more in line with capitalism.

Commented by /u/ErdoganTalk in /r/btc on September 8, 2020 05:12:34
/r/btc/comments/ink0f4/went_on_the_agoristnexus_podcast_to_discuss_ifp/g4a1z3g/

Right, you spoke mostly on the network effect and the markets attitude, so that is all right.

Commented by /u/ErdoganTalk in /r/btc on September 6, 2020 19:14:44
/r/btc/comments/ink0f4/went_on_the_agoristnexus_podcast_to_discuss_ifp/g4a1pik/

No, the competition for those coins will attract miners, and difficulty go up. We end up with the same profitability for all sha256 coins

Commented by /u/ErdoganTalk in /r/btc on September 6, 2020 19:11:57
/r/btc/comments/ink0f4/went_on_the_agoristnexus_podcast_to_discuss_ifp/g4a18lz/

You also got the economics of mining wrong, but that is not very important here. After a few blocks, the hashrate will balance and end up with the same mining profit, but abc will have about 8% lower hashrate compared to what it should have based on coinprice. So for example, if the two coins end up with the same price, abc will have lower hashrate. Same profit, so the miners don't give away any of their profit

Commented by /u/ErdoganTalk in /r/btc on September 6, 2020 19:07:03
/r/btc/comments/ino9e9/read_cash_so_after_you_mute_me_for_2_days_and_you/g499a8p/

Look, seriously, it is a private forum, it has to have an idea and a direction behind it, and an owner that sees to it. There are plenty bad articles, and the moderation is somewhat soft. It has to be this way, for any forum, else it is taken over by an unwashed mob. To OP, write better, or get it in your face.

Commented by /u/ErdoganTalk in /r/btc on September 6, 2020 14:43:30
/r/btc/comments/inftsf/is_btc_full_node_capable_on_running_on_freebsd/g48p1nr/

I want to look at it, and confirm that it is nonsense Did you just spit it out, without seeing any?

Commented by /u/ErdoganTalk in /r/btc on September 6, 2020 11:55:33
/r/btc/comments/ink0f4/went_on_the_agoristnexus_podcast_to_discuss_ifp/g4845fy/

A half outsider, an interesting view. He did not give much hope for the abc coin.

Commented by /u/ErdoganTalk in /r/btc on September 6, 2020 08:23:13
/r/btc/comments/ing8m0/bch_back_in_5th_position/g482h0y/

Same as I am talking about. Market capitalization for mineable coins. It excludes tether and ripples

Commented by /u/ErdoganTalk in /r/btc on September 6, 2020 07:57:52
/r/btc/comments/ing8m0/bch_back_in_5th_position/g481dvp/

Select mineable coins on the currency dropdown

Commented by /u/ErdoganTalk in /r/btc on September 6, 2020 07:40:23
/r/btc/comments/inecoy/flipstarter_spam/g48175x/

Name one you don't like, and the reason

Commented by /u/ErdoganTalk in /r/btc on September 6, 2020 07:37:21
/r/btc/comments/inftsf/is_btc_full_node_capable_on_running_on_freebsd/g4810zb/

Why do you want to?

Commented by /u/ErdoganTalk in /r/btc on September 6, 2020 07:34:31
/r/btc/comments/ing8m0/bch_back_in_5th_position/g480yrh/

So say the third, not the fifth, ffs

Commented by /u/ErdoganTalk in /r/btc on September 6, 2020 07:33:30
/r/btc/comments/ing8m0/bch_back_in_5th_position/g480wwy/

Third position among mined coins wtf

Commented by /u/ErdoganTalk in /r/btc on September 6, 2020 07:32:38
/r/btc/comments/iniaak/jeffrey_tucker_on_how_the_core_developers_ruined/g47x68k/

A gentleman, he draws the long lines, and he is correct on every point This was a shot in the arm for my enthusiasm He also pointed out the all important market. The market, being everybody, will find, if not the very best coin, at least one close to it. And the outlook is that BCH is so much ahead of the two currently leading mined cryptos, BTC and ETH, that it has a good chance in winning, either BCH as it is now, or a later split. What we learned with the first split BTC-BCH in 2017, was that it wasn't code, it wasn't mathematics, but the market governing the coins. Therefore we do not need to be afraid of chainsplits, it is only the market working.

Commented by /u/ErdoganTalk in /r/btc on September 6, 2020 06:25:40
/r/btc/comments/infpxc/debt_violence_end_debt_end_war/g47cdun/

> Debt = Violence. End Debt. End War. No. Posted early sunday morning.

Commented by /u/ErdoganTalk in /r/btc on September 6, 2020 00:42:25
/r/btc/comments/in1q3w/tim_draper_heaps_praise_on_bitcoin_cash/g46kxrj/

> the wrong Roger Ver How many are there?

Commented by /u/ErdoganTalk in /r/btc on September 5, 2020 19:59:18
/r/btc/comments/in4hdr/to_the_admin_of_the_readcash_ureadcash_why_you/g46hqui/

> Can you please tell in short what was that? Cheezes read the fucking post, you can do it if you take a break with the whining.

Commented by /u/ErdoganTalk in /r/btc on September 5, 2020 19:35:44
/r/btc/comments/inasps/would_this_pos_lead_by_itself/g46d6el/

BCH is 11.5 years, same age as BTC.

Commented by /u/ErdoganTalk in /r/btc on September 5, 2020 18:59:18
/r/btc/comments/in5v9l/reminder_bchnoifp_devs_saying_they_will_leave_if/g45m8gs/

You are wrong, the no IFP chain will be maintained with certainty.

Commented by /u/ErdoganTalk in /r/btc on September 5, 2020 15:22:06
/r/btc/comments/in5v9l/reminder_bchnoifp_devs_saying_they_will_leave_if/g45lxvv/

On the contrary, a number of devs have committed to maintain the BCHN software.

Commented by /u/ErdoganTalk in /r/btc on September 5, 2020 15:19:41
/r/btc/comments/imb27k/private_tips_and_bchs_unsung_hero/g44m5ob/

Thank you for the honor, mister creator of this brilliant tool!

Commented by /u/ErdoganTalk in /r/btc on September 5, 2020 10:35:22
/r/btc/comments/imtoiw/wow_looks_like_somebody_has_been_going_on_a/g43u4go/

Great, we need some cleanup

Commented by /u/ErdoganTalk in /r/btc on September 5, 2020 06:21:32
/r/btc/comments/imxz3c/why_are_we_told_to_buy_and_hold_bch_miners/g43s6sh/

We have been told that too little, in fact, we have some people only focusing on spending! But that is only because it is usable. Of course save, it is sound money!

Commented by /u/ErdoganTalk in /r/btc on September 5, 2020 06:02:07
/r/btc/comments/ilr3zq/bch_drops_2_mc_positions_within_weeks/g3wgfeu/

BCH is number 3 of the mined coins, number 2 of the bitcoins.

Commented by /u/ErdoganTalk in /r/btc on September 3, 2020 16:48:26
/r/btc/comments/ilti56/pornhub_adds_bitcoin_and_litecoin_for_premium/g3wfkl9/

What's the relevance to this post?

Commented by /u/ErdoganTalk in /r/btc on September 3, 2020 16:43:37
/r/btc/comments/ilti56/pornhub_adds_bitcoin_and_litecoin_for_premium/g3wff09/

Banks don't like them, maybe they are afraid to lose other customers. This is a perfect job for the cryptos! More users means increased liquidity, which opens up for other use cases. They should include BCH too, it works even better.

Commented by /u/ErdoganTalk in /r/btc on September 3, 2020 16:42:45
/r/btc/comments/ilrzvf/trolls_infestation/g3wdw0s/

You are an insider and you should take the stance against the straw in the coinbase.

Commented by /u/ErdoganTalk in /r/btc on September 3, 2020 16:34:09
/r/btc/comments/ilsj3b/psa_the_scam_known_as_bcash_bch_has_crashed_to_7/g3wbh0k/

BCH is number 3 of the mined coins

Commented by /u/ErdoganTalk in /r/btc on September 3, 2020 16:20:23
/r/btc/comments/ilymln/37_blocks_in_1_hour/g3w8q0w/

That would fix it actually, the orphaning of blocks would be the same as increased difficulty.

Commented by /u/ErdoganTalk in /r/btc on September 3, 2020 16:04:58
/r/btc/comments/ilzq4d/jihan_speaks/g3w7eib/

I don't like these

Commented by /u/ErdoganTalk in /r/btc on September 3, 2020 15:57:36
/r/btc/comments/im0iji/why_so_much_drama_for_tax_just_add_it_and_keep/g3w77b9/

You are poof-of-drama my friend

Commented by /u/ErdoganTalk in /r/btc on September 3, 2020 15:56:28
/r/btc/comments/iltc8l/hasu_the_depressing_part_about_this_is_that_bch/g3w5qrn/

Learn the difference between max capacity and used capacity. BTC's capacity is maxed out.

Commented by /u/ErdoganTalk in /r/btc on September 3, 2020 15:48:26
/r/btc/comments/il03k9/convince_me_these_arent_true/g3orr3n/

Money talks (you said it)

Commented by /u/ErdoganTalk in /r/btc on September 2, 2020 01:49:04
/r/btc/comments/il03k9/convince_me_these_arent_true/g3oqg1z/

How do you know the relative prices of pro-IFP non-IFP branches after the split?

Commented by /u/ErdoganTalk in /r/btc on September 2, 2020 01:30:54
/r/btc/comments/ijuso9/psa_we_have_serious_shill_infestation_problems/g3mgyg6/

Not good enough for an insider

Commented by /u/ErdoganTalk in /r/btc on September 1, 2020 14:39:18
/r/btc/comments/ikn2xc/in_all_the_bch_infighting_drama_lets_take_a/g3mcv1j/

The real reason is the capacity though. BTC has no more, BCH has plenty

Commented by /u/ErdoganTalk in /r/btc on September 1, 2020 14:15:04
/r/btc/comments/ikmpps/why_the_ifp_will_be_paid_by_btc_miners/g3lxmr7/

They don't. See https://read.cash/@ErdoganTalk/the-soundness-the-essential-feature-of-the-money-that-we-want-82112201

Commented by /u/ErdoganTalk in /r/btc on September 1, 2020 12:44:37
/r/btc/comments/ikgfef/block_subsidy_625_bch_is_also_tax/g3kxs5x/

> Why would Satoshi not have gone with 10 years of new coins and then stop? Maybe to have a soft ending. All of this was in the future, and as it turned out, too many coins came into being in the beginning, compared to the demand.

Commented by /u/ErdoganTalk in /r/btc on September 1, 2020 08:52:33
/r/btc/comments/ik300r/how_do_i_invest_in_btc/g3ihke8/

To say this, is the wole point of this thread

Commented by /u/ErdoganTalk in /r/btc on August 31, 2020 16:37:19
/r/btc/comments/ijd3kf/the_mask_of_anarchy/g3hjvsa/

Truth

Commented by /u/ErdoganTalk in /r/btc on August 31, 2020 12:54:42
/r/btc/comments/ijx4yd/do_i_need_to_have_my_btc_cash_in_a_specific/g3h5dyk/

Unnecessary, a paper wallet gives you nothing in this question.

Commented by /u/ErdoganTalk in /r/btc on August 31, 2020 11:20:11
/r/btc/comments/ijl5qq/do_i_have_bch/g3ekxsg/

> I saw the message saying it needed to convert to BTC first Don't know where that message came from, sounds absurd! > Earlier today I moved the BTC to a ledger wallet You did not move the BCH in that operation, there is replay protection between those two coins

Commented by /u/ErdoganTalk in /r/btc on August 30, 2020 18:06:45
/r/btc/comments/ij1xho/i_would_not_be_surprised_to_see_bitcoin_abc/g3dlkyl/

> How on earth is that possible? The MIT license is very open, and it can be clanged to closed source, even the contributions from other people. The GPL license does not allow this. It is more the opposite, you can not close even your own code lines, as long as it is released to work with some other GPL program For practical purposes, the GPL can be too strict. The person who started the project gets to choose. A MIT license project can almost always be changed to a GPL project, but it will be regarded as a hostile takeover.

Commented by /u/ErdoganTalk in /r/btc on August 30, 2020 13:49:38
/r/lebanon/comments/iig275/what_is_this/g36rfru/

That's why I use messages, I don't want to be banned for solicitation.

Commented by /u/ErdoganTalk in /r/lebanon on August 28, 2020 19:16:06
/r/lebanon/comments/iig275/what_is_this/g36hhb6/

It's a gift all right, but the purpose is not exactly to make you richer/less poor, it is to encourage you to try this glorious money type. The ease and speed is eye opening.

Commented by /u/ErdoganTalk in /r/lebanon on August 28, 2020 17:48:10
/r/btc/comments/ii4b0k/dont_be_fooled_into_believing_a_single_ifp_funded/g363iho/

> Given that 98% of the money will be paid by the "enemies" Not how it works: https://read.cash/@ErdoganTalk/the-soundness-the-essential-feature-of-the-money-that-we-want-82112201

Commented by /u/ErdoganTalk in /r/btc on August 28, 2020 15:55:18
/r/btc/comments/ii7bae/3_weeks_since_chainlink_flipped_bch/g35ptm5/

Bitcoin Cash is #3 among mined cryptos, #2 among the bitcoin variants

Commented by /u/ErdoganTalk in /r/btc on August 28, 2020 14:07:21
/r/btc/comments/iibssr/this_sub_irritates_me_every_time_it_pops_up/g35p1tb/

Does it pop up? What browser do you use?

Commented by /u/ErdoganTalk in /r/btc on August 28, 2020 14:01:11
/r/btc/comments/ii13nx/hashrate_defines_the_next_correct_block_it_does/g340jur/

Miners always decide which block to build on, and some would not build on a block that orphaned a perfectly valid block for no reason. That's why we will have a split.

Commented by /u/ErdoganTalk in /r/btc on August 28, 2020 02:51:06
/r/btc/comments/ihrcdc/the_project_is_dying/g325eul/

The BTC dominance is dying too, now 58%

Commented by /u/ErdoganTalk in /r/btc on August 27, 2020 16:06:43
/r/btc/comments/iha1ky/amaurys_attempt_at_an_ifp_is_already_making/g31v1kl/

> First place they are going to look? BCH. Or second, or third, doesn't matter, they will overflow the others.

Commented by /u/ErdoganTalk in /r/btc on August 27, 2020 14:48:26
/r/btc/comments/ihez61/bitcoin_cash_governance_changes_moving_forward/g30vyyw/

Yes, that can happen.

Commented by /u/ErdoganTalk in /r/btc on August 27, 2020 10:19:33
/r/btc/comments/ihez61/bitcoin_cash_governance_changes_moving_forward/g30ramj/

> Bitcoin Cash is going to crash in price relative to Bitcoin Too much uncertainty now. If we get a clean split, price can go up.

Commented by /u/ErdoganTalk in /r/btc on August 27, 2020 09:38:01
/r/btc/comments/ihez61/bitcoin_cash_governance_changes_moving_forward/g30eqsh/

> this could potentially be the final nail in the coffin for Bitcoin Cash I think you are wrong, the situation looks far brighter now than for a long time.

Commented by /u/ErdoganTalk in /r/btc on August 27, 2020 07:13:48
/r/btc/comments/ih0qxc/exbtc_maximalist_full_of_worriesexpectations_hear/g30d2x7/

> https://www.youtube.com/watch?v=AGWaeFtSamU That was an excellent introduction video by Roger Ver.

Commented by /u/ErdoganTalk in /r/btc on August 27, 2020 06:48:06
/r/btc/comments/iha1ky/amaurys_attempt_at_an_ifp_is_already_making/g30bjwe/

> The only thing the market notices are prices. I know. Low price due to market uncertainty right now, even if the insiders are content. Later, the market understands and price follows.

Commented by /u/ErdoganTalk in /r/btc on August 27, 2020 06:23:18
/r/btc/comments/ihef55/the_strategy_is_the_same_grow_bitcoin_cash/g30beye/

I like it /u/chaintip

Commented by /u/ErdoganTalk in /r/btc on August 27, 2020 06:20:58
/r/btc/comments/iha1ky/amaurys_attempt_at_an_ifp_is_already_making/g30a3eg/

I think this split will be cleaner, to our advantage. (no IFP)

Commented by /u/ErdoganTalk in /r/btc on August 27, 2020 05:58:48
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