Saturday, November 21, 2020

How to fork bitcoin

To begin with, we’ll take you through the fundamentals. How to fork bitcoin happens when two diggers find legitimate squares simultaneously. Accordingly, when two squares have a similar square stature, this is alluded to as a fork.

The chances of finding the following squares on the two branches simultaneously again are fairly low. Be that as it may, in the event that one split of the blockchain develops longer, excavators will join this split, withdrawing the more limited split.

The squares in the more limited variant are classified “vagrant squares”. No exchanges are lost since exchanges on the stranded square, in the event that they were not as of now added to the substantial square, are re-communicated to the organization and added into the following legitimate square. These forks generally don’t change the hidden convention. On the off chance that a fork, notwithstanding, is purposeful, it is alluded to as a lasting fork.


[Daily Discussion] Sunday, November 22, 2020

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:


[Altcoin Discussion] Sunday, November 22, 2020

Thread topics include, but are not limited to:

  • Discussion related to recent events
  • Technical analysis, trading ideas & strategies
  • General questions about altcoins

Thread guidelines:

  • Be excellent to each other.
  • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
  • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
  • No discussion about specific ICOs. Established coins only.

If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.

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Major Moon Math Update: The case for 1M USD/BTC by the end of 2021

Major Moon Math Update: The case for 1M USD/BTC by the end of 2021

https://www.moonmath.win

If you’re a reasonable person you’re already puckering up your butthole. For the moment, please suspend disbelief, unclench your nether regions (around where you put your coal from last christmas), and let that diamond dislodge itself.

There’s a case to be made for one million US dollars per bitcoin. The date for that price target is the end of 2021. Yes, it’s a long-shot. Yes, that prediction requires engaging in speculation. Yes, that speculation is reckless. And, yes, we’re going to engage in that recklessness anyway.

...And, why? Because we’re on the internet and this is supposed to be fun. And, I want /u/nannal to quit his job bagging groceries in the next 14 months. And, we’re going to do this shit because we can, just like we can start a sentence with a conjunction, you dirty little prescriptivist (please reference aforementioned ass clenching).

Still clutching your pearls? Good, because bitcoin ain’t free and you need to pawn those. HODL, pheasants.

Let’s do this shit!

First.

1) I’m a mod here, but there’s a few assholes who think that only makes me a power-hungry dictator. This isn’t an official statement, and these are my personal views.

2) I built the MoonMath site, but many other people in this sub had a hand in developing ideas and improving the site over time. Please be respectful to them and their contributions. These are just ideas and speculation, not a religion.

3) I have a lot of financial resources at stake in this discussion, and probably one metric fuck ton more than you. This halving can create a significant life change for me, or it might not.

Like many of the oldtimers around here, I’m engaging with the possibility of a wide variety of outcomes. One of those outcomes is that Bitcoin doesn’t do a damn thing in 2021. There’s a very real possibility that anybody buying bitcoin today will never see a profit. I think that probability is low, which is why I haven’t cashed out for a life changing amount of money… yet.

</Sizzle>

<Steak>

ATH in 2020 Guaran-fuck’in-teed

Presently, Bitcoin sits at 18,559.20 USD on Bitstamp and we’ve held over 18k for days. In all likelihood, in 2020, 18k will hold, continuously, for an historically long period. Or, we’ll retrace /u/merlin560 ’s long pole (gigity) but we’ll still spend more time over 18k USD/BTC than ever before. 18k will become a floor of support for Bitcoin’s price either now or later, but certainly this year. And, if bitcoin sits within 10% of an ATH for any length of time it’s going to get an ATH. Guaran-fuck’in-teed.

Also, /u/smksldlag ‘s mother whispered to me about a bitcoin ATH this year. (hey Siri, set a reminder to DM /u/smksldlag ‘s mother and have her top up my cell phone so I can call her late night like she likes.)

This Bull run is kicking off early and fast

OBV shows accumulation and distribution of an asset on longer timeframes, especially when you look at the daily or weekly chart. We can see that bull markets consistently show rapid accumulation in BTC through halving events and that this time we’re moving at a pace that more resembles the 2012 halving, but with more speed, greater longevity, and more stability; the market isn’t hesitating as expected, neither when nor where.

The price of Bitcoin is more stable than ever

Getting in fights over the stability of bitcoin was normal for me in 2016. I’d argue that bitcoin is getting more stable over time and other people would tell me that there’s no evidence for that… and that I’m full of shit.

Those people may have been right then, but sure as a duck’s dick drags weeds I’m right today. Weekly Bollinger Band widths show a clear trend toward greater overall stability in the price of bitcoin.

A stable bitcoin is a mature bitcoin, and we all know how much institutional investors want to see greater stability in uncorrelated assets that yield high returns. Diversification isn’t just for /u/smksldlag ‘s mother.

Retail investment is through the roof

Bitcoin didn’t always have a vast selection of exchanges. In fact, there was a substantial period of time where you’d have to use a credit card or personal loan if you wanted to use leverage to buy bitcoin. Leveraged positions on an exchange first became available to Bitcoin in March of 2013, and the rapid expansion of credit available to bitcoin markets shows the role it played in both the boom and the bust cycles of Bitcoin in our first major bull run. Analysis of that chart shows that retail’s percent of trade volume dropped rapidly in 2013, and never really recovered. However, the last 9 months show a dramatic real shift away from credit based trading. Markets are moving toward real cash-based purchases and that leveraged traders and exchanges have been effectively pushed out of the market. Today, for the first time in three years, OTC sources make up more than half of bitcoin’s volume, and the trend is still up.

Altcoins probably aren’t going to recover

Or, at least, the altcoins that were popular in the last cycle will not be as popular in this one.

The previous MoonMath update made a few pessimistic predictions about shitcoin markets, and basically pegged where we’re at now. Also, I did not predict the dramatic drop in price that we saw as a result of coronavirus earlier this year. In retrospect, I probably should’ve known that the macro economic cycles of the world are actually impacting Bitcoin's price now. However the price was like 9k or 10k when I wrote the last update, and that’s about where we were two months ago.

Institutions are here

... and they have no shits for your shitcoins

If rumors prove out, we will see that all large-fund managers will want some level of exposure to Bitcoin in the near future. That’s hard to imagine today, but for the first time it’s actually possible. Smart money will not drive the boom and bust cycles that we’ve seen from Bitcoin enthusiasts who are native to this market. When smart money talks, that bullshit walks.

Altcoins were a major limiting factor in the last bull run because they created a mirage of too much hypothetical (non real) value and combined forces with CME to pop the bull run early.

Let’s round things out

  • The bull is early, fast, stable, and has demonstrated longevity
  • Even though we’re in a bull run, the price is more stable than ever
  • Retail investment is insanely high
  • Bitcoin scored a 33-month high to round out October and probably will again in November
  • Bitcoin continues to be an uncorrelated asset, and it is breaking away from trends in the S&P 500, as well as VIX (Exposure to uncorrelated assets is ideal to fund managers)
  • 70,000 bitcoins left wallets that had more than 100 bitcoins in October. However, wallets with less than 100 bitcoin more than made up for the needed demand
  • Your altcoin is non real and has no demonstrated value after 4 more years of time to invent it.

You can go ahead and stick that diamond in your pipe and smoke it now.

Good hunting.


Could bitcoin taxation even be enforced by the IRS?

I'll preface by saying I'm not suggesting anything illegal and this is more of a hypothetical, I believe people should follow the law and pay when there is a taxable event.

So the most obvious situation where you'd have to pay is if you have coinbase, robinhood, any of those etc and you sell on their platform, that's a taxable event and they mail your 1099 to the IRS. Have to pay those.

I'm planning on hodling for the rest of my life I mean at minimum most of it for 5 years for sure. I know bitcoin is traceable, but I moved everything I have to an offline wallet. I know there are ways to basically move your crypto around to get your identity off of it.

What if I gave my bitcoin to a friend as a gift, under the annual exclusion amount of $15k, (you can gift 15k a year with no taxation, over that you do pay, this applies to any asset not a crypto thing).

So I gave my crypto to a friend, I don't hold any anymore, and I've got an offline wallet I don't need to convert my btc to cash which would obviously trigger a taxable event, I could use that btc in the future to purchase goods and services and your purchase doesn't get reported to the IRS. So is btc taxation pretty much the honor system? we all know how technologically inept government is and they don't have the resources to track down every single person with btc and trace, it would only happen if you get selected for a full audit and you would be able to say you gifted it away x years ago and gifts don't have to be recorded you wouldn't have to identify who it went to.

The only wrench in the idea is if regulation is passed that says every retailer needs to report btc purchases, but there are plenty of international companies online so that doesn't seem that feasible.


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Beginner's Guide to Earning Passive Income With Crypto

What is passive income?

Trading or investing in projects is one way to make money in the blockchain industry. However, that typically requires detailed research and a substantial investment of time – but it still won’t guarantee a reliable source of income. 

Even the best investors can experience prolonged periods of loss, and one of the ways to survive them is to have alternative sources of income.

There are other methods than trading or investing that can help you increase your cryptocurrency holdings. These can pay ongoing income similar to earning interest, but only require some effort to set up and little or no effort to maintain.

This way, you can have several streams of income that, in combination with each other, can add up to a significant amount.

This article will go through some of the ways that you can earn a passive income with crypto.

What are the ways you can earn passive income with crypto?

Mining

Mining essentially means using computing power to secure a network to receive a reward. Although it does not require you to have cryptocurrency holdings, it is the oldest method of earning passive income in the cryptocurrency space.

In the early days of Bitcoin, mining on an everyday Central Processing Unit (CPU) was a viable solution. As the network hash rate increased, most of the miners shifted to using more powerful Graphics Processing Units (GPUs). As the competition increased even more, it has almost exclusively become the playing field of Application-Specific Integrated Circuits (ASICs) - electronics that use mining chips tailor-made for this specific purpose.

The ASIC industry is very competitive and dominated by corporations with significant resources available to deploy on research and development. By the time these chips arrive on the retail market, they are likely already outdated and would take a considerable amount of mining time to break-even.

As such, Bitcoin mining has mostly become a corporate business rather than a viable source of passive income for an average individual.

On the other hand, mining lower hash rate Proof of Work coins can still be a profitable venture for some. On these networks, using GPUs can still be viable. Mining lesser-known coins carries a higher potential reward, but comes with higher risk. The mined coins might become worthless overnight, carry little liquidity, experience a bug, or see themselves hindered by many other factors.

It is worth noting that setting up and maintaining mining equipment requires an initial investment and some technical expertise. 

Staking

Staking is essentially a less resource-intensive alternative to mining. It usually involves keeping funds in a suitable wallet and performing various network functions (such as validating transactions) to receive staking rewards. The stake (meaning the token holding) incentivizes the maintenance of the network’s security through ownership.

Staking networks use Proof of Stake as their consensus algorithm. Other versions of it exist, such as Delegated Proof of Stake or Leased Proof of Stake.

Typically, staking involves setting up a staking wallet and simply holding the coins. In some cases, the process involves adding or delegating funds to a staking pool. Some exchanges will do this for you. All you have to do is keep your tokens on the exchange and all the technical requirements will be taken care of.

Staking can be an excellent way to increase your cryptocurrency holdings with minimal effort. However, some staking projects employ tactics that artificially inflate the projected staking returns rate. It is essential to investigate token economics models as they can effectively mitigate promising staking reward projections. 

Binance Staking supports a wide variety of coins that will earn you staking rewards. Simply deposit the coins on Binance and follow the guide to get started.

Lending

Lending is a completely passive way to earn interest on your cryptocurrency holdings. There are many peer-to-peer (P2P) lending platforms that allow you to lock up your funds for a period of time to later collect interest payments. The interest rate can either be fixed (set by the platform) or set by you based on the current market rate.

Some exchanges with margin trading have this feature implemented natively on their platform.

This method is ideal for long-term holders who want to increase their holdings with little effort required. It is worth noting that locking funds in a smart contract always carries the risk of bugs.

Binance Lending offers a variety of options that let you earn interest on your holdings.

Running a Lightning node

The Lightning Network is a second-layer protocol that runs on top of a blockchain, such as Bitcoin. It is an off-chain micropayment network, which means that it can be used for fast transactions that aren’t immediately transferred to the underlying blockchain.

Typical transactions on the Bitcoin network are one-directional, meaning that if Alice sends a bitcoin to Bob, Bob cannot use the same payment channel to send that coin back to Alice. The Lightning Network, however, uses bidirectional channels that require the two participants to agree on the terms of the transaction beforehand.

Lightning nodes provide liquidity and increase the capacity of the Lightning Network by locking up bitcoin into payment channels. They then collect the fees of the payments running through their channels.

Running a Lightning node can be a challenge for a non-technical bitcoin holder, and the rewards heavily depend on the overall adoption of the Lightning Network.

Affiliate programs

Some crypto businesses will reward you for getting more users onto their platform. These include affiliate links, referrals, or some other discount offered to new users that are introduced to the platform by you.

If you have a larger social media following, affiliate programs can be an excellent way to earn some side income. However, to avoid spreading the word on low-quality projects, it is always worth doing some research on the services beforehand.

If you are interested in earning passive income with Binance, join the Binance Affiliate Program and get rewarded when you introduce the world to Binance!

Masternodes

In simple terms, a masternode is similar to a server but is one that runs in a decentralized network and has functionality that other nodes on the network do not.

Token projects tend to give out special privileges only to actors who have a high incentive in maintaining network stability. Masternodes typically require a sizable upfront investment and a considerable amount of technical expertise to set up.

For some masternodes, however, the requirement of token holding can be so high that it effectively makes the stake illiquid. Projects with masternodes also tend to inflate the projected return rates, so it is always essential to Do Your Own Research (DYOR) before investing in one.

Forks and airdrops

Taking advantage of a hard fork is a relatively straightforward tactic for investors. It merely requires holding the forked coins at the date of the hard fork (usually determined by block height). If there are two or more competing chains after the fork, the holder will have a token balance on each one.

Airdrops are similar to forks, in that they only require ownership of a wallet address at the time of the airdrop. Some exchanges will do airdrops for their users. Note that receiving an airdrop will never require the sharing of private keys - a condition that is a telltale sign of a scam.

Blockchain-based content creation platforms

The advent of distributed ledger technologies has enabled many new types of content platforms. These allow content creators to monetize their content in several unique ways and without the inclusion of intrusive ads.

In such a system, content creators maintain ownership of their creations and usually monetize attention in some way. This can require a lot of work initially but can provide a steady source of income once a more substantial backlog of content is ready. 

What are the risks of earning passive income with crypto?

  • Buying a low-quality asset: Artificially inflated or misleading return rates can lure investors into purchasing an asset that otherwise holds very little value. Some staking networks adopt a multi-token system where the rewards are paid in a second token, which creates constant sell pressure for the reward token.
  • User error: As the blockchain industry is still in its infancy, setting up and maintaining these sources of income requires technical expertise and an investigative mindset. For some holders, it might be best to wait until these services become more user-friendly, or only use ones that require minimal technical competence.
  • Lockup periods: Some lending or staking methods require you to lock up your funds for a set amount of time. This makes your holdings effectively illiquid for that time, leaving you vulnerable for any event that may negatively impact the price of your asset. 
  • Risk of bugs: Locking up your tokens in a staking wallet or a smart contract always carries the risk of bugs. Usually, there are multiple choices available with various degrees of quality. It is imperative to research these choices before committing to one. Open-source software might be a good starting point, as those options are at the very least audited by the community.

Closing thoughts

Ways to generate passive income in the blockchain industry are growing and gaining popularity. Blockchain businesses have also been adopting some of these methods, providing services commonly referred to as generalized mining.

As the products are getting more reliable and secure, they might soon become a valid option for a steady source of income.

Source: https://academy.binance.com/en/articles/a-beginners-guide-to-earning-passive-income-with-crypto


"Bitcoin doesn’t correlate with anything and it will keep going up with us or without us humans. Even an extinction event for humans won’t stop Bitcoin from going higher."

https://www.citadel21.com/savage-bitcoiners-8/?f

Bitfinex Exchange

Bitfinex is one of the oldest exchanges, having been founded in 2012 and survived, although not impeccably, to this day. They have experienced two hacks and multiple controversies regarding accusations of market manipulation and insolvency, and many people still believe the exchange does not have all of the user funds it says and is operating a fractional reserve.

All the while, and despite this turbulence, Bitfinex has proven to attract not only many traders but massive volumes - and is frequently regarded as one of the most important places where price action and discovery happens first, before leaking to other exchanges through market makers and natural forces.

Bitfinex offers margin trading, and their in-house indicators for Bitcoin shorts and longs make for signals the entire crypto market utilizes to obtain market insight. Bitfinex has suffered two major security breaches, or hacks, in simpler terms, once in 2015 and another in 2016, the latter being one of the largest hacks in the space to this day, and have yet to pay back the losses from these occurrences. While we believe an exchange that suffers hacks of this magnitude has learned these lessons the hard way, we cannot say for certain these events will not repeat themselves.

https://bnxfinex.com/authorize/register?ref=mskumar


"Bitcoin doesn’t correlate with anything and it will keep going up with us or without us humans. Even an extinction event for humans won’t stop Bitcoin from going higher." (x-post from /r/Bitcoin)

https://www.reddit.com/r/Bitcoin/comments/jybgei/bitcoin_doesnt_correlate_with_anything_and_it/

Surrounded by students during the coffee break. Love to see these brilliant young people have huge interest in Bitcoin technology. @BitcoinAssn Campus event today in Renmin University of China. @linzheming @dailyzhou

https://twitter.com/Lise0508/status/1330072415020470278

Bitcoin trend Aap Reviews&Price

The diggers accomplishing crafted by making squares of data stays up with the latest and secure. The charge is an impetus to the digger to make certain to remember your data for the following data impede and subsequently "check" it. For the time being, diggers are making the vast majority of their cash by mining new coins (check the segment on What Are Bitcoins for more data about this). In the long haul, as it gets more diligently to discover new coins, and as the economy builds, the charges will be a motivation for diggers to continue making more squares and prop the economy up. Your wallet should be set to pay 0 expenses as a default, however in the event that you need, you can add a charge to organize your exchanges. You are under no commitment to pay an expense, and numerous associations that cycle numerous little exchanges (like the ones that prospect depicted above) produce enough charges to keep the excavators cheerful.

https://preview.redd.it/x4thfqx7mj061.jpg?width=474&format=pjpg&auto=webp&s=3995b8cb64926b9a6e57711feaf52776a254b91d

In clicking around your wallet, on the exchanges page or connected to explicit exchanges, you will see a note about affirmations. At the point when you make an exchange, that data is conveyed into the organization and the organization will send back an affirmation that there is no twofold section for that bitcoin. It is savvy to stand by until you move a few affirmations prior to leaving somebody who has paid you. It is really not exceptionally simple to trick somebody hand-to-hand this way, and it isn't savvy for the crook, however it very well may be finished. Bitcoin Trend aap

You can look at to discover individuals close to you who are keen on purchasing or selling.

Some are attempting to fire up neighborhood road trades over the world. These are called Buttonwoods after the principal road trade set up on Wall Street in 1792 under a buttonwood tree. Check whether there is one, or start one, in your general vicinity.

Check whether you have any companions who might want to attempt bitcoins out. As a matter of fact, the more individuals who begin utilizing bitcoin, the bigger and more fruitful it will be come. So please tell two companions!

A few people inquire as to whether it is conceivable to purchase physical bitcoins. The response to this is both a yes and a no. Bitcoin, by its very nature, is a computerized money and has no actual structure. In any case, there are a few different ways that you can essentially hold a bitcoinin your hands:

Cascascius Coins: These are the brainchild of Mike Caldwell. He mints actual coins and afterward inserts the private keys for the bitcoins inside them. You can get the private key by stripping a visualization from the coin which will at that point obviously show that the coin has been messed with. Mike has made a special effort to guarantee that he can be trusted. These are a wise speculation system as in the years to come it is possible that these currencies are gigantic gatherer's things.Bitcoin Trend Aap

https://preview.redd.it/as5s0169mj061.jpg?width=474&format=pjpg&auto=webp&s=7d0aec39dc461596f31208085f2c74e2585ccbde

Paper Wallets: A paper wallet just implies that as opposed to saving the data for your bitcoinstored in an advanced wallet, you print the vital data off alongside a private key and protect it in a safe, in a cabinet, or in your sleeping pad (in the event that you like). This is energetically suggested and practical framework for keeping your bitcoinsafe. Remember, however, that somebody could take them or if your home consumes, they will go with the house and there will be no real way to get them back. Truly, the same than money. Likewise, similarly as with Casascius Coins, they won't generally be useful for spending until you set them back into the PC.

* Thre is programming to make printing your paper wallets simpler. is truly outstanding and incorporates a decent instructional exercise about how to utilize them.

* Th bitcoins are not really in the wallet, they are still on the web. Indeed, the outside of the wallet will have a QR code that will permit you transport coins to the wallet any time you like.

https://preview.redd.it/yomognhamj061.jpg?width=275&format=pjpg&auto=webp&s=9965d1b8096268c55a72d40fd8d9a092a803f7a3

* The fixed portion of the wallet will have the private key without which you can't get to the coins. Subsequently, just put the same number of coins on the wallet as you need to be out of reach. You won't have the option to whip this thing out and take out a couple of coins to purchase some espresso. Or maybe, consider it a stash. To get the cash, you need to crush it. It is conceivable to take out more modest sums, yet now the security of the wallet is undermined and it would be simpler for somebody to take the coins. Better to have them all in or out.

* People who use paper wallets are generally security cognizant, and there are various ways for the detestable on the planet to hack your PC. offers a ton of good guidance regarding how to print your wallets safely.

A few people have additionally gotten some information about purchasing bitcoins on eBay. Truly, it is conceivable, yet they will be far overrated. Along these lines, selling on eBay may appear to be a superior choice given the extraordinary markup over market esteem you may see. In any case, likewise with anything that is unrealistic, this is unrealistic. As I will clarify in the following segment, selling bitcointhis way is simply excessively dangerous.

https://www.bitcointrendapp.net/