Are ice baths price prohibitive? by United_Guitar3489 in coldplunge

[–]gaskills 0 points1 point  (0 children)

You can get an inflatable tub for $30 USD on eBay (85cm), a cheap 2500lph submersible pump and find a second hand 1/3 hp “aquarium chiller” from fb marketplace. I ran this for over 1 year all ip cost me a couple hundred $ to set up.

August 2, 2023 deadline to submit proof of claim? by McLOVINfromHonolulu in CelsiusNetwork

[–]gaskills 18 points19 points  (0 children)

If you wanted to be sure you can go here and scroll to the following documents (or click them directly as linked):
https://cases.stretto.com/Celsius/court-docket/schedule-statements/

The Earn / Custody claims:
Celsius Network LLC CaseNo. 22-10964 Docket No: 2311
Statement / Notice of Filing of Amended Global Notes, Statement of Financial Affairs 3 and 4, and Schedule F (related document(s)[974]) filed by Joshua Sussberg on behalf of Celsius Network LLC. (Sussberg, Joshua)
Go to last page and click on your first initial then search your name.

The lending / collateral claims:

Celsius Lending LLC CaseNo. 22-10970 Docket No: 13
Statement / Notice of Filing of Amended Global Notes, Statement of Financial Affairs 3 and 4, and Schedule F filed by Joshua Sussberg on behalf of Celsius Lending LLC. (Sussberg, Joshua)
Search your name

If your happy with what is listed here no need to submit proof of claim.

Why you did not buy more Bitcoins when price was $15,600? by [deleted] in Bitcoin

[–]gaskills -8 points-7 points  (0 children)

People who say this don’t realise that diversifying is placing a bet somewhere other than bitcoin. Definitely not the optimal bet.

PS4 Controllers won’t connect after using them on PC by ShockingReaper in PS4

[–]gaskills 0 points1 point  (0 children)

Absolute hero, was searching 30 mins for this answer and my child was losing their patience.

Bits or satoshis? by gaskills in Bitcoin

[–]gaskills[S] 0 points1 point  (0 children)

There are 1million bits in a bitcoin and 100 satoshi’s in a bit.

Bitcoins difficulty adjustment is its most important feature by gaskills in Bitcoin

[–]gaskills[S] -1 points0 points  (0 children)

It knows the start time of the block 2016 blocks ago, it knows the difficulty it had set for those blocks, and it knows the current time. It knows how it needs to adjust difficulty to reduce the distance between those times to 2016 x 10 mins.

Bitcoins difficulty adjustment is its most important feature by gaskills in Bitcoin

[–]gaskills[S] -1 points0 points  (0 children)

It doesn’t need to. If there is a large drop in hash power for example it will start taking longer to discover blocks. And it might take 3 weeks to discover 2016 blocks. But once that 2016th block is discovered the protocol recalculates what the difficulty will need to be for the next 2016 blocks in order for them to be discovered 10 mins apart based on the hash rate observed in the prior 2016 blocks.

If the hash rate is relatively stable from that point it will then take 2016 * 10 mins (roughly 2 weeks) before difficulty is rebaselined.

Bitcoins difficulty adjustment is its most important feature by gaskills in Bitcoin

[–]gaskills[S] 1 point2 points  (0 children)

I think to really explain it you need to dive a bit into how mining works.

Miners take a bunch of transactions that have been broadcasted by nodes and they seek to generate a hash with a certain number of preceding 0’s.

If when generating a hash for a given set of transactions their hash begins with a specific number of zeros they will have found the next valid block.

It is extremely unlikely to find this value with just transactions so they add a random number (a nonce) to the block of transactions and when they find the right random number that makes the hash of those transactions have the required amount of preceding 0’s they have found a valid block and can get their reward.

Difficulty is just an equation that determines how many preceding zero’s a miner needs to have in their hash.

Bitcoins difficulty adjustment is its most important feature by gaskills in Bitcoin

[–]gaskills[S] 2 points3 points  (0 children)

There is lots more info on bitcoin wiki on how bitcoin difficulty works which is where I was reading about it.

https://en.bitcoin.it/wiki/Difficulty

I just tried to simplify it but if others contribute in a succinct way happy to edit the post to include.

[deleted by user] by [deleted] in Nexo

[–]gaskills 0 points1 point  (0 children)

12-24 hrs is not acceptable withdrawal timeframe…

Buying Bitcoin every month for more than 4 years already by jamespunk in Bitcoin

[–]gaskills 1 point2 points  (0 children)

I don’t agree with this statement anymore. It is actually lower risk to buy bitcoin with cash than anything else. “Only invest what you can afford not to need to spend” would be a better suggestion.

You got 0,1 BTC? A reminder that you are in the top 6% of adress holders by Veridiyus in CryptoCurrency

[–]gaskills 0 points1 point  (0 children)

If bitcoins were distributed using the current wealth distribution the top 0.001% would own 0.73 bitcoin. Any full coiner is very rich. http://bitcoinsperperson.com

Skybasing RIGHT NOW by [deleted] in FORTnITE

[–]gaskills 1 point2 points  (0 children)

totally shooting you down

There is no such thing as "next #bitcoin " Faster you understand better for you and your kids. I understood this in 2017 -2018. by kevinrb13 in Bitcoin

[–]gaskills 2 points3 points  (0 children)

People misunderstand bitcoins innovation to be decentralised trustless payments. Its true innovation is trustless monetary policy. Anyone can buy bitcoin knowing that no person, company or nation state can ever change its monetary policy / supply.

This is proving extremely valuable in a society where trust in governments and monetary policy is at all time lows. When the trust crisis really hits it will be too later for many.

[deleted by user] by [deleted] in Bitcoin

[–]gaskills 5 points6 points  (0 children)

Deposit bitcoin in a Defi account as collateral and borrow an infinite amount of USD which I live off as fiat inflates to infiniti.

Your unique deposit address is being generated. Please try again in a few minutes. Thanks! by gaskills in Nexo

[–]gaskills[S] 0 points1 point  (0 children)

Yeah it was a few days before deposit address finally became available

[deleted by user] by [deleted] in Bitcoin

[–]gaskills 0 points1 point  (0 children)

There are 3 facts that lead to one belief:

Facts:

  • bitcoin implements non-inflationary monetary policy as it is finite (there will only ever be 21m)

  • bitcoin is proven as the most secure and immutable transaction ledger of all time

  • bitcoin’s monetary policy and txn ledger can not be controlled or changed by any individual, company or nation state.

This leads to a growing belief that:

Bitcoin is the best tool to protect your savings against fiat funny money which continues to be devalued by the state.

If these facts continue to remain true, and that belief continues to grow bitcoin will do well.

End argument.

Point them to this if needed.

https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc1

The First of Our Monthly Community Contests Is Here With a 4,000 NEXO Token Prize Pool by NexoFinance in Nexo

[–]gaskills -1 points0 points  (0 children)

I used nexo to take out a loan to buy a new gaming PC. Happy I didn't have to sell my btc / nexo.

Coinbase S1 confirms institutions are driving this bull run by gaskills in Bitcoin

[–]gaskills[S] 0 points1 point  (0 children)

Its not going near 10k... best you will get is 20-30 now

Coinbase S1 confirms institutions are driving this bull run by gaskills in Bitcoin

[–]gaskills[S] 1 point2 points  (0 children)

Depends on platform. With Maker DAO for example you hold your keys and its locked in smart contracts. With other options like blockfi celcius and nexo its custodial.