BITS

AcademicoMarihuanero

Just call it BITS instead of Sats, in a couple of years: hey how much is that 12 bedroom penthouse in Manhattan? 83.000 bits pal, oh thanks i'll take it.

fieldsofthecrypt

and if it continues to fail especially with shitbase who don't even have a customer support other tyhan BITS or HUMANS worthless as BOTS?

MythicMango

THAT'S 10 MILLION BITS!.... not an insignificant amount 

only_merit

Oh dear, again? I guess every week there has to be one post like that because I guess search function does not exist? Anyway, reading your post and your comments to other people, you are very confused about just about everything. > I am aware that a quantum computer could easily bypass all 128/256bits criptography No, a strong quantum computer can only solve some problems more efficiently, its not, for example, able to break SHA256, which is a cryptographic hash function used in Bitcoin mining. > yea but if the computer would be so powerfull that could easly mach the miner's power output, couldn't it engage in a 51% attack? A strong quantum computer could not perform 51% attack because it would need to either break SHA256 or perform mining operation (which consists of just repeating SHA256 over and over again) in more efficient way, which it can not. > educate yourself, watch some videos. a quantum computer does not have BITS (which value is determined and can be 0 or 1) but QUANTUM BITS, witch can assume a value of 1, 0 and both at the same time (quantum entaglement). with quantum bits you can have BILLIONS of possible combination with just a few hundred bits as those can have millions of combination at the same time. Quantum bits can destroy all cryptogtaphy has aver been implemented No, it can not destroy all cryptography that has ever been implemented. It can't even destroy SHA256. And of course it can not destroy quantum resistant algorithms that have been developed long time ago. > with a quantum computer there is no "encrypting", it can access anything that is encrypted with stardard encryption. Again no, with QC there can be encryption (that is resistant). And no, there is nothing like "standard encryption", there are numerous algorithms developed over the time, standardized by various kinds of institutions and each algorithm is different. Some algorithms, importantly for Bitcoin ECDSA, could be broken by a strong QC. But this does not imply anything about other algorithms. > btc would have to be thought over from zero. it would need quantum transmitters between users in order to avoid double spending Again no, Bitcoin would not have to be thought over from zero, it would just make another software (not unlike Taproot) that would just introduced quantum resistant signature scheme (which there are several already today) so that it can be used in Bitcoin. And no, this has nothing to do with double spending.

Mairl_

educate yourself, watch some videos. a quantum computer does not have BITS (which value is determined and can be 0 or 1) but QUANTUM BITS, witch can assume a value of 1, 0 and both at the same time (quantum entaglement). with quantum bits you can have BILLIONS of possible combination with just a few hundred bits as those can have millions of combination at the same time. Quantum bits can destroy all cryptogtaphy has aver been implemented

mercistheman

There should be a denomination between SATS and BTC... BITS

Psychedelic1966

Check out these ETF’s - BITX, ARKA, BITS these three are Bitcoin futures

Loose_Screw_

Can anyone tell me why the below post would be removed? >So Bitcoin ETFs are very likely inbound imminently, if not today, then at some point in Q1 this year. >Prospective applicants include: >Grayscale: $GBTC - offering 1.5% fee >Ark Invest: $ARKB - offering zero fees for first 6 months or until AUM hits $1B, then 0.25% >Blackrock: $IBIT - offering 0.2% fees, rising to 0.3% if the fund hits $5B AUM >Bitwise: $BITB >VanEck: $XBTF >Wisdomtree: $BTCW - <1% >Invesco: $BTCO - offering zero fees for first 6 months or until AUM hits $5B, then 0.59% >Fidelity: $FBTC - <1% >Valkyrie: $BTF - <1% >Global X: $BITS >Hashdex: $DEFI >I've included the prospective fees above where I could find them (may have changed since I looked). I know most of these are going to be backed by Coinbase as custodian but couldn't find information on which ones. >My question is - which, if any, are you all interested in investing in? I know ideally we'd all hold our BTC on our Trezors, but at least admitting the tax advantages of Roth/401k, you'd be silly not using these to avoid a portion of the capital tax on your crypto (unless you're a diehard anarcho capitalist). >If you are thinking of investing, do you have your eye on any particular ETF? Will you simply pick the lowest fee? What factors are you looking at when evaluating who to go with?

Cr8zaceu

You can literally google the prices right now, sheesh. BITO, BITS, HODL, BITC,etc etc

cutoffs89

1 BIT = 0.035 USD Most people will be thinking in BITS or SATS soon enough. I'm sure we'll see 1 BIT worth a Dime very soon.

igadjeed

**Do not use kW and kW-hour interchangeably. They do not measure the same thing** To avoid this confusion, use Joules instead > I know it’s the networks hash rate/difficulty that determines the probability of randomly choosing the nonce for the block Global hash rate and difficulty are indirect indicators. Every Bitcoin block header has a target field. A winning block must have a header which has a hash smaller than this target. In Bitcoin mining, hashing is used as a randomness oracle ... the average number of hashes required per block is the size of the 256-bit domain ( 2^256 ) divided by the target hash The latest block: https://blockstream.info/block/00000000000000000005d03c85baf94e7db9cdf4731edd2122f4980252fdc704?expand Target is labeled "BITS": 0x1705dd01 Target is stored as a Bitcoin-specific compressed format, 1-byte exponent followed by 3-byte coefficient. To expand, the coefficient is followed by trailing zero bytes. The exponent is the byte-length of the target including the 3-byte coefficient 0x1705dd01 is 05dd010000000000000000000000000000000000000000 2^256 is 0x10000000000000000000000000000000000000000000000000000000000000000 Divide the target into 2^256 Result: 0x2ba9547b40e6085fd85e Decimal: 206,185,346,042,529,706,924,126 or 206,185,346,042 terahashes per block (average, calculated from the current target) According to Bitmain, an Antminer S19XP consumes 21.5 Joules per terahash The energy to find a block ... 206185346042 * 21.5 = 4432984939903 Joules Complete formula Joules per block = (( 2^256 / target ) / 10^12 ) * 21.5 You can easily discover how many Joules in a kW-hour You can easily divide by 6.25 if you really want the energy consumed to mine 1 Bitcoin The target changes every 2016 blocks. Many miners are still using less efficient mining devices than the S19XP

BraidRuner

That's Nothing. Kin has 10 Trillion Coins and Ted Livingston controls 5 Trillion of them. So that's nice and he won't burn any of them and he just created 9 Triillion more called BITS and then abandoned them when he realized he could get into trouble (too late Ted)

procabiak

Make bits happen instead. 1 bit = 100 sats 1 million bits = 1 Bitcoin It's easier to understand when 1 bit becomes parity with $1 which is a much closer reality than $1 = 1 satoshi. Non-Bitcoiner people understand what it means/feels to be a millionaire and people understand why a dollar is a unit of 100 cents. Satoshis being 100 million to 1 is not a normal number to remember, the only thing reaching that high is the Powerball. Cut the bullshit with mBtc/uBtc/8 decimal places and the general populace will catch on. Repeat after me. BITS!

BraidRuner

No it was Migrated from Ethereum to a Stellar Fork and then migrated again to a Solana SPL Token and now has been forked again by the Founder/Grifter Ted Livingston to the deceptively named BITS/SPL and the deceptively named CODE wallet is being prepared for said Airdropped Token created for the purpose of evading the SEC and Kin Foundatiion Restrictions allowing unrestricted selling by the Founder/ serial Grifter Ted Livingston.

igadjeed

> don't understand hard limit preventing diff adj below 1 The miners' winning condition is to have a block which has a header which has a hash less than the current mining target. The software adjusts the mining target every 2016 blocks New Target = Old Target * (Actual Time of Last 2016 Blocks / 20160 minutes) And the code specifies the original target (for the first 2016 blocks). You can see the value in nBits for all the early blocks https://blockstream.info/block-height/170 BITS 0x1d00ffff which is a compressed form of 0x00000000ffff0000000000000000000000000000000000000000000000000000 The code also specifies that the target can not get any bigger than this. And later, having a pre-defined highest possible target allowed for this target to be defined as difficulty 1 https://en.bitcoin.it/wiki/Difficulty

Keefryan

Google. 128 bits entropy V 256 BITS entropy it will enlighten you.

zlogic

I'm talking about the 'BITS'

igadjeed

The mining target was not implemented as a count of leading zero bits, because that would only allow adjustment in powers of 2, which is too coarse The target is a maximum value. That is, it is the upper bound of a range. The range has a lower bound of zero. The size of the range is inversely proportional to the average number of hashes required to win the mining race (that is, to find a hash within the range) Using a maximum value is numerically similar to using a count of leading zero bits, but allows for finer adjustment, as mentioned already The easiest target is the target coded for the launch of Bitcoin, with special-case logic which doesn't allow it to adjust easier. You can see this in any block explorer for all the blocks up to #32255 https://blockstream.info/block/0000000006885eb30aa56b7edde60c3b43a445dbda057e62d3dcc2ed0b315d04?expand BITS 0x1d00ffff That's a 32-bit compressed format for this 256-bit target 0x00000000ffff0000000000000000000000000000000000000000000000000000 See https://github.com/bitcoinbook/bitcoinbook/blob/develop/ch10.asciidoc Search down to "Target Representation" It's compressed like this because there's only enough room in the block header to store it as 32 bits The target for the hardest difficulty would be a string of 256 0 bits 0x0000000000000000000000000000000000000000000000000000000000000000 which is 0x03000000 in 32-bit coefficient/exponent format At this extreme, only one hash is valid, the zero hash

Blocks_and_Chains

It’s the easiest basically.. jokes aside about buying and forgetting, I still remember when I bough COTI on KuCoin and I kinda forgot and I didn’t logged back in again for awhile… Then, I was seeing ATH news for COTI and remembered I had some - and boom, my first 10x back in 2020 I think it was… Now, I aim to do the same with BITS and FLD - new launches. I wanna buy from the beginning and just not think again about these bags. Let’s see if I manage to pull even more X-es.

Blocks_and_Chains

There are still new and legit projects out there ready to hit the market. I’ve been keeping an eye on FLUID for example, a new-gen liquidity aggregator. FLD TGE will soon be announced. Also, BITS seems to be another valuable one launching these days. The altcoin market is getting back to its known activity :)

NeverGoneTooFar

Why aren't they called BITS

energetic-dad

>you can see that not only BITS but literally ALL other ETFs have been MASSIVELY short-sold in recent months. maybe a lot of assets have been short sold... because we're heading towards a recession? Could that possibly be the cause? not everything's a conspiracy, bruh

Trommler26

it's a [mobile app called Strikes](https://www.trystrikes.com/?user=iairk6jk), there you can see that not only BITS but literally all crypto-linked ETFs have been MASSIVELY short-sold in recent months.

Trommler26

it's called [Strikes app](https://www.trystrikes.com/?user=iairk6jk) there you can see that not only BITS but literally ALL other ETFs have been MASSIVELY short-sold in recent months. The good thing is that at some point those hedgies MUST buy them back, and the closest buy-back date is approaching.. their only hope is to spread the panic so we sell and the price slides down further.. so they can buy back cheaper to cover their shorts at a nice fat profit!! LET'S NOT HELP THEM!

forthetorino

I have been reading the prospectus and am leaning towards BITS, but they are so similar, wish something big would jump out at me. BITS seems aimed at the broader blockchain, while BITO is focused more on Bitcoin futures themselves. I currently own Bitcoin so maybe a broader blockchain ETF would balance me out. Just talking it out with fellow crypto junkies. 😎

forthetorino

Does anyone have any insight on the Bitcoin strategy ETF’s BITS and BITO? I’m preparing for entry into one of the two, and of the two the only real difference is the maintenance cost. (Besides share price.) If anyone has any insight I am eager to hear what you have to say. BITS has a lower fee than BITO, and the share price is less for BITS as well. BITS is roughly $10/share, BITO roughly $19/share. Share price is not a strong factor though.

Mob_BallSack

TAKE BITS OF YOUR PROFITS! There have been so many occasions where people don't capitalize on the opportunities that they have created for themselves and in turn results in losses when they wait to long. Perfect example is what's happening now with the crypto market (fortunately everything is slightly gong back up)

MythicMango

WHAT ABOUT BITS???? at $100k, every Bit is $1, and every Sat is 1¢

SabeaEstates

People fail to realize the math is all related. I believe it was Reagan that actually had communication with Otherworldly brings via BITS (coded numeric language). Then again knowing the US, it definitely didn’t alert the people of this breakthrough.

Peleton011

No???? There's one simple deffinition of a gigabit, a billion bits, which in turn are 1/8 of a byte. Im talking BITS and BYTES, they're different, 8 BITS make up 1 BYTE, so a gigabit connection is the same as a 0,125(1/8) gigabyte connection, which is the same as a 125 megabyte connection => 1 gigabit/ 1000 megabits are 0,125 gigabytes/ 125 megabytes.

Big_Party_4731

Just call it BITS, it’s intuitive. Satoshi sounds like it’s a joke and it’s not

sicqueia

BITS

bullett007

Bro, I think you should get the handle DM_ME_UR_BITS just in case this catches on.

lavazzalove

Vanguard has good alternatives to VTI as well. VOO (S&P 500) actually slightly outperformed VTI (Total stock market) since 2010. Personally, I do 50% VUG (Growth Index Fund) and 50% VOO in my IRA. Granted, VUG is down 13% YTD because of the tech selloff. It's a good opportunity if you're dollar-cost averaging. Here is the backtest going back to 2010 through December 2021 https://www.portfoliovisualizer.com/backtest-portfolio?s=y&timePeriod=4&startYear=2010&firstMonth=1&endYear=2022&lastMonth=12&calendarAligned=true&includeYTD=false&initialAmount=10000&annualOperation=0&annualAdjustment=0&inflationAdjusted=true&annualPercentage=0.0&frequency=4&rebalanceType=1&absoluteDeviation=5.0&relativeDeviation=25.0&leverageType=0&leverageRatio=0.0&debtAmount=0&debtInterest=0.0&maintenanceMargin=25.0&leveragedBenchmark=false&reinvestDividends=true&showYield=false&showFactors=false&factorModel=3&portfolioNames=false&portfolioName1=Portfolio+1&portfolioName2=Portfolio+2&portfolioName3=Portfolio+3&symbol1=VOO&allocation1_1=100&symbol2=VTI&allocation2_2=100&symbol3=VUG&allocation3_3=100 My ROTH is 100% BITS https://www.globalxetfs.com/funds/bits/

cutoffs89

Right on! That's ONE HUNDRED THOUSAND BITS!

ImLinker

Teach her how to HODL & take out BITS of profit.

lavazzalove

Check out BITS, I recently rotated out of GBTC into BITS. https://www.globalxetfs.com/funds/bits/ It's 50% BKCH (Global X Blockchain ETF https://www.globalxetfs.com/funds/bkch/#holdings) and 50% third and fourth month Bitcoin futures. Plus, there is only 0.65% fee vs 2% fee for GBTC.

microwavenoob9000

YOU MISSED OUT COMPLETELY! YOUR LIFE IS NOW OVER! WITHOUT MAKING MILLIONS OF DOLLARS FROM SOME COMPUTER BITS, YOU HAVE NO FUTURE! YOU WILL NEVER FUCK HOT ESCORTS WITH YOUR MILLIONS OR HAVE A BUNCH OF EXPENSIVE CARS! HAHAHAHAHAHAHA! LOSER! FUCK YOUUUUUUUUUUUUUUUUUUU! MIGHT AS WELL END IT NOW BECAUSE YOU ARE OFFICIALLY A TOTAL PIECE OF SHIT! SUCK IT! SUCK IT ALL NIGHT LONG! Dude, it's cryptocurrency. Relax, and do something else with your life. One day you will die and lose everything anyway, even your potential crypto millions.

MythicMango

I LIKE BITS

active_ate

Call 1-800-BITS-OFF

mamalalatata

Chop them in BITS

RedddLeddd

Unify this conference with the AVN awards and call it *BITS AND ASS*

No-Limit-3560

You place BITS at $15 when the price today is today at $31,780??? At $15 there's no point in not just riding it all the way to zero.

Confounded_Bridge

So I’ve been thinking about the “blood in the streets” price for Bitcoin. I’ve had my ups and downs investing and can embarrassingly say that I’ve panicked a couple of times when stocks I had bought dropped like a stone. I sold almost at the height of selling volume and one could say that I sold at the “blood in the streets” price. I’m going to call it BITS price for ease of typing. So when I sold at the BITS price it always ended up reversing (within a week or two) and shooting up while I sat there looking stupid. I failed to remember that this is a war for our minds. The price action is manipulated to make us either buy or sell. Now when I get a very strong urge to sell I buy if possible. So far it has never led me wrong. What do I think the BITS price for Bitcoin is? I would say around $15.00. I think at that price and below lots of retail investors will just throw up their hands and sell. I don’t think it’s likely to stay that low for long, there is just to much good news coming out. Anyways sorry for the long post, I just wanted to get this off my chest and hopefully help someone who is freaking out. Bitcoin is here to stay and it’s only going to get better in the long term.

Bklyngirlly

Doing a bit of research and found a way to start accruing BITS here: https://basicincometoken.io/join-us/marivicgirl99 If you're interested in more info. Here's a link to their white paper: https://basicincometoken.io/BIT-Whitepaper.pdf Anyone else start their journey with UBI or BITS? I know that its still in its early stages but as an early adopter, I wanted to share what I've found so far. I hope this pans out to be a solution to wage disparities on a global level.

Mikepaup

For the ones with interest in take a look: [https://coinmarketcap.com/currencies/provoco-token/](https://coinmarketcap.com/currencies/provoco-token/) for the ones with interest in buying VOCO (or BITS): [https://www.stex.com/](https://www.stex.com/) Stex only operate with crypto, soo you can't buy with cash, you need to: \-buy a coin in other wallet (i uses coinbase), \-for example, buy Stellar (with stellar you won't pay fee) \-send to your wallet in stex! You should trade with the pairs of each coin, so, one way to do it is: sell your stellar for BTC (Bitcoin) sell the BTC for USDT with the USDT buy VOCO it's easier than it looks like!

Zorr70

Can I add a petition to this - PETITION - to fucking STOP using this "I own 0,00134-whatever BTC” - terminology bullshit and instead use the term god intended - and NO dont fucking say “SATS” Anymore - not a single normal person outhere gives a fuck who Satoshi Nagamoto is - USE “BITS" goddammit! - “I own 4000 Bits” communicates infinitely clearer that this other -inbred-semisecretive - closed-society-tech-bullshit. You’ll thank me later. Upvotes are to the fucking left. *ragequits

BitcoinNBeever

Just noticed Coingecko are using BITS and SATS now! https://www.reddit.com/r/Bitcoin/comments/ljqdgp/bits_and_sats_now_officially_being_used_on/

dcbinkowski

Last time the price went to 3x the S2F peak (was supposed to be about 6,000 - it went to 20K). Do you think this run it goes to 300K ? (3x the 100K s2F target) then basically peaks out then retraces all the way down to the 100K S2F model, and puts in a base there trading sideways for a long time like it did at 6K ? Basically an over-shoot could be inevitable with this much money trying to force its way in. I'm just trying to calculate the degree of overshoot. I'll be selling little BITS of my position at every price between 100K and 600K. I'm treating it as if it peaks at 600K this time. If I'm wrong I still have some meat left on the bone for the next cycle - and I add more back during the next cycle low - no big deal. When it fell BELOW the last S2F level (6K dropped to 3K) it basically became a raging buy. This time that would be like it dropping from 100K consolidation base down to 50K-ish... Maybe 50K is the next low (NO BRAINER) entry after THIS cycle tops....