let me break it down for you
A hash function is a computer program that takes an input of data and returns a verifiable result, called a checksum. The input can be any source of data, and running the same hash function again will return the same checksum as the result.
For example, running your random source data of 128 bits of entropy through a hash function will always return the same result as the checksum. If you change anything in that source data, you will get a different result from the hash function.
In this step, the random source data is run through a SHA256 hash function. The first X digits of the checksum are then added to the random source data/entropy, where X is equal to the quotient of entropy divided by 32.
It is important to note that BIP39 generates the seed phrase from binary, which is 0’s and 1’s. The SHA256 hashing function returns a checksum as a sequence of numbers and letters, called hexadecimal. To get the binary bits, you will have to convert the checksum from hexadecimal format to binary format.
Your original source of random data, or entropy, plus the SHA256 checksum is divisible by 11. The BIP39 word list contains 2048 words, and each word on the list maps to 11 bits of data. In this step, break your entropy+checksum into sequential chunks of 11 bits.
It is important to slice the 11-bit chunks in sequential order. This means going from left to right, every 11 bits is grouped together. Every 11 bits represents a word in your seed phrase, and the order of the words has to be correct.
Next, convert your 11-bit sequence into decimal format. This will give you a number that maps to the BIP39 word list. In the correct order, map each 11-bit sequence to the matching word in the BIP39 word list. This is your seed phrase!
It is important to highlight that some word lists for BIP39 might start with 1. In code, the first number is always 0. This means, 2048 words are listed as 0-2047. Not 1-2048. If your BIP39 word list starts with 1 instead of 0, you will need to subtract 1 from the word list numbers to get the correct word.
still with me? no? fuck.
Then you buy your daily coffee with it right?
I think it’s a huge deal. If people want to buy Bitcoins or apes, it’s dumb, but who cares? If crypto scammers are going to set up wildcat banks and start financial panics, then they have to be stopped.
This setup has always been available afaik. A trainer at my gym was rocking this way before the Juicero Bike came out.
This is my favorite part about the Juicero bike though:
“It was interesting psychology that we teased out,” Peloton CEO John Foley recalled in an interview last year with Yahoo Finance. “In the very, very early days, we charged $1,200 for the Peloton bike for the first couple of months. And what turned out happening is we heard from customers that the bike must be poorly built if you’re charging $1,200 for it. We charged $2,000 dollars for it, and sales increased, because people said, ‘Oh, it must be a quality bike.’”
just buying the bitcoin ETF seems best for casual hodlers
What’s the advantage of that over just buying BTC?
After thinking about it, not having to set up a wallet (and run the risks of improperly setting up a wallet) is probably a great feature for crypto casuals. Plus having recovery options if I forget my password.
Not having to tattoo shit on your bodies to ensure you can still access your money?
Good piece here.
GBTC traded at 30 in 2017 when btcoin was 19k. It’s at 13 and bitcoin is at 21k.
Plus if it’s what I looked into a couple years back it has like a 2 percent expense ratio.
this is a little embarrassing but 100% sincere, I finally looked up what BAYC was (before all i knew was bored ape = nft = very expensive) but after digging into it, if I had the scratch, I’d totally look at buying one. lol.
I guess they finally got me, I’m a crypto bro now
my favorite one is over 1 million $$$. it doesn’t look like they really dropped in price (in terms of crypto and if you zoom out a bit) much which makes sense but still is kind of surprising.
i even rebuke the dumb “it’s not real art or good for artists” takes, a big criticism being it doesn’t make any kind of statement and is a purely vapid, narcissistic shallow display of wealth - which is a perfect representation of art in modern times though, isn’t it? it’s a parody of itself. i love it, i’m so sad i missed the boat so badly
I’ll try to defend myself from silent or open mockery here by saying i think some of this may actually be on to something. I look at rare cosmetics in games I’ve enjoyed over the years - chiefly CS Go and Rocket league, and to some degree valorant. there’s something fun and cool about obtaining a rare expensive skin and showing it off. it’s fun to collect and trade them and you’d be absolutely gobsmacked at how much $$$ the rarer CS knives go for.
if a persistent visible digital presence becomes way more mainstream outside of how it exists currently in the form of video games (I am bearish here about web3 however) it will absolutely become a thing where NFT’s and digital collectibles/cosmetics/status symbol types of things take off and hold value, I am firmly convinced of that.
No, people don’t do shit.
Algos run 80% of the show in a normal market and are predominantly the ones buying both the bottom when everyone at that time is pointing fingers on who is to blame for how we got fucked in the ass or they are the ones selling the top when they start auto shorting when a surge of sell orders is about to get executed.
only weakpoint hungry and thirsty