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1441  Bitcoin / Bitcoin Discussion / Re: My Preparations for BTC Halving and bull market on: September 08, 2023, 05:11:40 AM
The only part I don't agree with is buying altcoins and calling it a "portfolio". We all know that all these altcoins depend on bitcoin price and majority of them have absolutely no future even the bigger ones are going to get dumped in the long run. For example the biggest shitcoin called ethereum has not been capable of pumping back to its 2017 highs and has lost about half of its value over the past 6 years. That's contrary to bitcoin that is still above its previous ATH.

Besides there is a high chance that alcoins you are bagholding could get dumped when bitcoin starts rising. It happens to a lot of them since the "investors" sell their coins to go back to bitcoin market and have more liquidity trading bitcoin/fiat pairs. That always dumps altcoins.
1442  Bitcoin / Wallet software / Re: Petition to remove Wasabi from recommendations of bitcoin.org on: September 08, 2023, 05:02:46 AM
It shouldn't have a 'Good' rating in the privacy category. If it was up to me, I would take it down to 'Acceptable', maybe even 'Caution'.
The problem with these ratings and categories is that they are not well designed and the criteria in some cases doesn't make any sense. For example in case of Wasabi the second term in the privacy section (not disclose information to peers) is not even applicable to a client-server relationship that Wasabi has, it belongs to full node implementations where there is peer-to-peer relationship.
And they just give it "acceptable" rating because of things like that (+rotating address and using TOR)!
That is not enough to determine whether a light wallet is good for privacy or not.
1443  Bitcoin / Development & Technical Discussion / Re: [INFO - DISCUSSION] Mnemonic Code Words (BIP39) on: September 08, 2023, 04:46:25 AM
In the slide before last it is misleading to call PBKDF2 a "key stretching" function because although it is how PBKDF2 is categorized but key stretching algorithms are used to make a weak key more secure against brute force attacks.
In case of BIP39, the key (ie. the initial entropy) is not weak at all and it doesn't need to be secured. In other words PBKDF2 in this context is only used as a key derivation function not a key stretching function.
1444  Bitcoin / Bitcoin Discussion / Re: Two years ago today, El Salvador adopted Bitcoin as legal tender on: September 07, 2023, 04:42:34 PM
But what El-Salvador can do, bigger countries can't do that easily. El-Salvador has a very limited population and it's easy to manage. So it's easier said that done.
It is too soon for countries to accept bitcoin as legal tender, regardless of their size. But it is not soon for buying it as a reserve currency and slowly building up their bitcoin wealth. In this case bigger countries with bigger economies can do it a lot better than El Salvador with its small economy can.
1445  Economy / Economics / Re: BRICS has become eleven countries instead of five. on: September 07, 2023, 03:54:44 PM
Nevertheless, I am interested and excited to know what other members of this forum see this stunt as and what it could mean for the BRICS, is it a statement that they really are an international alliance for de-dollarization or not?
As the article clearly stated, this is a symbolic move.

As I've said many times dedollarisation is already happening with or without the BRICS currency. Many countries across the globe (specially those in certain groups like SCO, BRICS, ASEAN, etc.) are already replacing dollar with other currencies including their own in a portion of their international trades.

Introducing "BRICS currency" would mean speeding up that process by introducing a solid and international replacement that everyone can use but is a currency that is not controlled by a single power. Which is the most important distinction with the dollar that US keeps printing willy-nilly.
But revealing this symbolically is still a big move. I think of it as bitcoin in 2008 that is not yet released but we have seen what it could look like and know how its release is going to change the world.
1446  Bitcoin / Bitcoin Discussion / Re: Smart contracts on Bitcoin...Are they worth it? on: September 07, 2023, 03:35:58 PM
I've seen this new movement of adding smart contracts functionality to Bitcoin using sidechains. Ever since Taproot was implemented, developers have been working heavily on this. We now have Rootstock (RSK), and Stacks as sidechains which provide smart contracts functionality to BTC.
To be clear Bitcoin has had smart contracts from day one. In fact Satoshi introduced this way of using Smart Contracts when he created Bitcoin then others expanded it in their altcoins.

These side-chains are introducing Turing complete smart contracts.
Also RSK is not new, if I'm not mistaken it used to be an altcoin back in 2013 and then they took the idea and turned it into the concept RootStock RSK in 2014-2015 and the chain launched in 2018. None of it has anything to do with Taproot though.

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This could be game-changer as it'll make Bitcoin similar to Ethereum in every way.
Not at all.
Unlike Ethereum that is a mess, Bitcoin will remain decentralized and will keep its blockchain immutable.

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What do you think? Is it a good idea for Bitcoin to have smart contract features? If not, why? Your input will be greatly appreciated. Thank you very much. Smiley
Another way of looking at this is what you call "having smart contract features" actually means "having token creation features". In which case the answer is no it is not a good idea because tokens are still useless and they would only clog the network with more junk.
Even if some day a usefulness is found for tokens it is still not a good idea to have them in bitcoin because there is no point in accumulating all features into one project when we can have more.

Having them in a side-chain is better but only as long as they don't end up spamming the main chain for their pegs.
1447  Bitcoin / Bitcoin Discussion / Re: Two years ago today, El Salvador adopted Bitcoin as legal tender on: September 07, 2023, 03:20:45 PM
~ he has spent $101 million for the purchase~
Even as this is happening, the president is not compelled or pressured to sell them off,
According to Google the El Salvador GDP past two years were $28.74 and $31.6 billion, and government revenues in 2021+2022 was $12.6 billion with no budget deficit. This means investing $101 million or 0.16% of GDP or 1/5 of the left over budget of 2022 into bitcoin is nothing and there is no need to sell it off!

Instead bitcoin is acting as the reserve currency of the country in the long run. In fact I believe they should dump more of their left over budget into bitcoin now that there is a much bigger discount and bitcoin is undervalued.
1448  Bitcoin / Development & Technical Discussion / Re: [INFO - DISCUSSION] Compact Block Filter (BIP158) on: September 07, 2023, 02:51:31 PM
✂️
And while we're at it, does anyone know which full node software support BIP 158 (aside from Bitcoin Core, Bitcoin knots, bcoin and btcd)?

unfortunately i can't find a listing of wallets/full node software where bip158 might be integrated either
Proposals that remain in the "draft" status and are incomplete such as this BIP are usually not implemented by any of the Bitcoin softwares out there.

By the way BIP158 should not be confused with the completed, accepted and implemented BIP-152 which is compact block format and filters used by full nodes when they relay new blocks to each other. Your title should include the words "for Light Clients" to avoid that confusion.
1449  Economy / Economics / Re: BRICS has become eleven countries instead of five. on: September 07, 2023, 05:29:02 AM
England, the land of Anglo-Saxons~
Read my comment again specially the first two lines because you didn't get my point at all. The point isn't to claim nobody else is going to do what the tiny island of England has done. The point was to say as the invaded, the countries have to learn from their mistakes that led to the success of their enemies.

1. Denmark was to conquer your country. If you let Denmark to conquer it and join it, without any war, then Denmark will share it's technology, education and achievements with you, merge with you under its own leadership and you, that was a bad/average country before, now becomes one of the most successful one as a part of Denmark. If you resist, then definitely it will abandon you, will try to enslave you and rob you.
So your argument is that if a country has more advanced technologies everyone else should let them annex their countries or be invaded and murdered! LOL
I wonder where you live because I can bet that at least in two dozen technological fields we are far more advanced than your country can ever dream of. How about we annex your country to share the "technology, education and achievements" with you or as you said in case of resistance we enslave you? Cheesy

It doesn't sound good when the shoe is on the other foot, does it?

Okay, Europe is evil. Why do they try to claim asylum in Europe?
OK. Europe is not evil then why have 10+ million Europeans from Ukrainian sought asylum in rest of Europe?
It's the same elsewhere, when the West declares war on their countries (be it invasion or cold war or colonizing), they are forced to leave their homes and migrate, some to the same West that ruined their lives.

The fact is that nobody, specially in the East likes to migrate to the West. The cultural difference alone is enough to persuade them not to. Nobody likes leaving their homes, their families and their own rich culture and heritage to go live in an artificial country like US with a primitive governance or EU.
You think anyone in their right mind would like to live in a place where every day 13 children on average become victims of gun violence? Or one out of 3 or 4 women are sexually assaulted? That's US for you. Europe is no better. Take France for instance. They just passed a law that starting from this upcoming school year it mandates female children to wear revealing clothes to school! Funny thing is that we don't hear anything from a single human rights organization in the West...

I do not understand why he wants to link the standard of living in some European countries with the reality of corruption in the countries that were colonized by those countries.
Because if you take away "economy" from the West there is nothing else left. There would be no technology, no advances, no resources, no culture, no society and last but not least no democracy. And worst of all they, specially Europe, would go back to the stone ages where they fight each other for scarce resources like they were doing in years before World War 2 when there was at least a big war every year between different countries in Europe! It would be the same in America. You think for example "country" of Texas (the largest oil-producing state) would freely give its resources to the rest of the 50-60 "countries" after United States becomes Ununited Countries?
1450  Bitcoin / Electrum / Re: Is it possible to run the Electrum wallet offline in such a manner? on: September 06, 2023, 01:54:01 PM
Import it to Bluewallet in your mobile device, that way you can generate receiving addresses, and keep track of your balance.
Only if you are using IOS otherwise Electrum also has an android version for smart phones which should be the preferred option as you won't have to deal with possible differences in the two implementations.
1451  Bitcoin / Bitcoin Discussion / Re: Bitcoin mempool reaches 600K transactions on: September 06, 2023, 10:25:05 AM
when handling only ~4k bundles of utxo at a time to fill a block, then they have to wait again... rather then constant stream every 10 minutes
It is trivial to prepare for such a spam attack before starting it by creating large numbers of UTXOs in a "fan out" type of attack. Then by the time of attack they will simply use the "aged" coins and as they spam they can use the output of those transactions in the tomorrow's attack.
1452  Other / Beginners & Help / Re: How to deal with (P2SH) 2013 on: September 06, 2023, 07:37:32 AM
If you have the P2SH address (which will give you the HASH160 of the redeem script) and multiple private keys that you know are used in creation of that address, the recovery is a matter of simple brute force loop.
You can use any wallet that can create multi-sig addresses from keys but keep in mind that it is not flexible since they usually sort the public keys lexicographically that may not have been the way your script were created in first place.

In this case the most probable redeem script is a multi-sig one which means all you have to do is to test different combinations against the hash you have.
Redeem script is:
Code:
OP_m | pub_1 | pub_2 | ... | pub_n | OP_n | OP_CheckMultiSig

Here is a pseudocode of how the loop would look like:
Code:
loop m from 0 to n
  select (1st pub) from [pub_1 to pub_n]
  select (2nd pub) from [pub_1 to pub_n - (1st pub)]
  ...
  set last pub
  compute RIPEMD160 hash of SHA256 hash of script
  compare with P2SH hash
    print result
    break

The loop for 3 public keys in total while allowing duplicates and accepting 0of3 scripts is like this:
Code:
int n = 3;
pubList = [pub1, pub2, pub3]
for (int m = 0; m <= n; m++)
{
    for (int i = 0; i < pubList.Length; i++)
    {
        for (int j = 0; j < pubList.Length; j++)
        {
            for (int k = 0; k < pubList.Length; k++)
            {
                hash = ComputeHash(OP_m | pubList[i] | pubList[j] | pubList[k] | OP_n | 0xae);
                if (hash == expected)
                {
                    Print(m + i + j + k);
                    break;
                }
            }
        }
    }
}
This is 108 hashes that can be computed in a second or two.
1453  Bitcoin / Bitcoin Discussion / Re: Bitcoin mempool reaches 600K transactions on: September 06, 2023, 06:54:52 AM
Do people think this high usage is good or bad for Bitcoin?
It depends on the reason for the congestion. There are different scenarios where it can be normal or it could be a bad thing.
I can generally categorize these scenarios into 4 groups:

1. Natural congestion caused by sudden and temporary spike
These are cases where bitcoin users would send more transactions in certain time periods. For example during weekends when some big services are consolidating outputs or during market volatility times when more people are sending their bitcoins to their exchange accounts and some others are withdrawing from them.
This is normal and it doesn't last long. This is showing the natural and healthy activity in the Bitcoin world which is a good thing.

2. Natural congestion that is not going away
This has never happened before and this case is when the number of bitcoin users has grown so much that the existing capacity is no longer enough to handle all their needs. In this case we need to start thinking about increasing capacity.
This is bad if it happens and we don't already have plans for it.

3. Artificial congestion caused by "normal" spam attack
The best example is what we saw in 2017. Malicious entities fill the mempool with large number of transactions to artificially cause congestion. This is bad for bitcoin but not that bad since there is a working solution for this type of attack which is the fee market. It has prevented this type of attack well in the past by increasing the cost of the attack.

4. Congestion caused by "sophisticated" spam attacks
This is the newest form of attack and the worst type since the solution is not yet agreed upon. Specially since there are still people who don't want to admit this is a problem.
The latest example is with the codename Ordinals. In this type of attack they create an incentive for the regular users to spam the network themselves, in this case by exploiting the protocol. This is more harmful and harder to fix because for example to prevent the Ordinals attack there needs to be changes in the protocol which nobody seems to be interested in!


P.S. This ongoing congestion falls under the 4th category.
1454  Bitcoin / Bitcoin Discussion / Re: Is FullRBF allowing double spend? on: September 06, 2023, 05:12:53 AM
The big downside of Full-RBF is that it effectively made the risk assessment of received transactions harder, something that a service could perform before in order to give each transaction they received a "point" and if it were below a certain threshold they could accept the smaller risk and accept the tx without confirmation.

An example of such system to see was the one offered by the blockcypher explorer called Confidence Factor: https://www.blockcypher.com/dev/bitcoin/#confidence-factor

more users used to trust zero confirms back then, because it was not straight forward in just the node itself to cheat. its required pushtx knowledge and timing and and also the IP addresses of particular nodes to know where to relay and not.
Trusting unconfirmed transactions have always been discouraged in the Bitcoin community, but if we are talking about the early days like 2009 as in your previous comment, then it was a lot easier to perform double spend attacks for two reasons.
First was the smaller number of nodes in total that one could connect to and send a conflicting transaction to each and wait to get one confirmed.
And second was the fact that one could send out a transaction (the actual payment) to the network but mine the next block containing the double spend themselves since the difficulty was very low.
1455  Bitcoin / Electrum / Re: Where does electrum financial source come from? on: September 06, 2023, 04:52:54 AM
Electrum guys own a registered company and run service called TrustedCoin[1] (registered in 2013 in San Francisco) which is used in the 2FA wallet types which you can create using Electrum software. This service is also available to be used by other software as the secondary signer in multi-signature setups.
Each time a 2FA wallet user creates a transaction they are paying a small additional fee to this service (or rather every 20 transactions IIRC).

Keep in mind that the Electrum servers (except one) have nothing to do with the Electrum team, they are run by other volunteers which you can donate to independently.

[1] https://trustedcoin.com/
1456  Economy / Economics / Re: BRICS has become eleven countries instead of five. on: September 05, 2023, 05:11:37 PM
Am I wrong when I say that throughout the history Europe was the most advanced one?
If by history you mean ever since the invasions began where colonizers destroyed other countries to steal their resources, then yes in that short history you are correct but the history is not 200-300 years, it is thousands of years and in most of that time Europe was actually far behind the East. Not to mention that many of what we call country today didn't even exist that long.
Even gun power that was the start of the invasions and pillages by the West was actually invented in the East.

As I already said the history is like a sinusoidal wave.

Quote
I don't say other countries are stupid but their governance led to atrophy of talented people.
You are somewhat on the right path here. At the end of the day we have nobody to blame by ourselves. To blame colonizers for colonizing is like blaming water for being wet. For example England is a teeny tiny island and if you remove the non-developed area that leaves it with a measly 11000 km², considering the lack of natural resources and the harsh living environment you can see why they started invading the world starting from their neighbors.

At some point everyone realizes this and learns from their mistakes in the history and start the change. What we see in the New World Order today with new organizations like SCO and BRICS is the result of those who realized this decades ago and started the change.

Quote
I don't know much about Iraq (only know that EU didn't participate in it except Poland and UK)
The murderous group that invaded Iraq and killed 1.4 million civilians (40% women and children) was referred to as "coalition of the willing" (you can search it and learn some history) and it included 49 countries according to Whitehouse archives.
To name a few: UK, Denmark, Italy, Japan, Poland, Portugal, Romania, Slovakia, Spain, Turkey and of course Ukraine. Some countries like Costa Rica went back and forth with their supports, some countries like Solomon Islands didn't send troops officially but mostly as "volunteers" to join the murders.

Quote
Why isn't Iraq like UAE, Saudi Arabia and Qatar? If there was not the involvement of the USA, would Iraq be peaceful country with high quality of life, high human development index with freedom of speech and freedom of human rights?
First of all it is absurd to talk about human rights and freedom of speech and mention Saudi regime in the same sentence when the smallest thing they've done was to chop up the Washington Post journalist and dissolve his pieces in acid bath.

As for Iraq, you can't talk about a country with a very narrow view. What we call Iraq today is the result of the British separation of parts of the Ottoman Empire in the 20th century and is again one of those "creations" (like I mentioned above with the water wars) that are designed to be a natural issue for centuries.
The "quality of life" etc that you are talking about today is the result of decades of foreign intervention, stupid decision and finally in recent times the result of rule of the Washington's dearest friend and ally Saddam.
I'd say the beginning of the downfall of Iraq was in early 1980's when Saddam decided to listen to US and start the largest land battles since World War II with his neighbor in an area bigger than Europe for 8 years which he ended up losing. He started it just because he thought the post revolution Iran that was isolated and surrounded by the enemies could be easily defeated specially since he had the support and troops from majority of the world (60+ countries) and this included the two super powers of the time US and USSR!
As he failed to fulfill US interests in overthrowing democracy in Iran to install the same US back dictator, he had lost his usage so the sanctions began, so the US media started to call this once US ally a dictator, hence the bombings began for 10 years until 2003 when the full scale invasion started.

Quote
It's just my personal opinion but I think the whole world uses Afghanistan for own illegal activities, including illegal selling of weapons, afghan drug imports and money laundering.
Only in the past couple of hundred years Afghanistan, this once beautiful and modern place, has been the battle field of different empires. Which is where the statement "Afghanistan is the place where Empires die" comes from. The Brits, the Soviets and finally the Americans have all invaded Afghanistan and each have destroyed it in their own ways.

Quote
Okay, let's imagine that US sanctions are eliminated. Do you really think that now corrupt people will say: Okay, now we have no excuse to not pay back the money borrowed for imports? Oh my goodness, no. Corruption has the strongest and deepest routes. Once it's sowed, it's impossible to erase. There is only one way to erase it and it's to grow a new population with the ideology that corruption is bad. Old people, who were corrupt, can't be changed.
Corruption is in human nature, if you search about it you will find numerous cases in both US and Europe. In fact many European countries have a very low corruption index (ie high level of corruption) like Ukraine, Albania, Serbia, Turkey (if you count it in Europe!), Moldova, etc.
That's just the very biased CPI, case by case we can find big corruption cases in everywhere. For instance the National Audit Office of UK publishes some censored statistics every now and then and the estimated average of total frauds is over $100 billion in recent years.

The point is that it is racist to think corruption only exist outside of Europe and it exists because people don't know it is bad! If anything corruption in Europe is a lot worse because of the circumstances. eg. EU is not under any sanctions nor is it in any cold war, at least hasn't been until last year.

Quote
Final questions:
Does EU give you asylum protection?
Does EU give you free healthcare even if you are an asylum/refugee?
Does EU give you free high quality education?
Does EU give you free money and housing when you claim an asylum?
Do European taxpayers pay for all of these?
What we get in return? Those who got asylum, our free money, free healthcare and free education, are raping women and children, are killing people in the street, are robbing houses, are shoplifting and so on.
They take 470,000 troops and completely destroy 6 countries in 20 years and cause the dislocation of tens of millions of people. Some of which find their way to Europe seeking asylum. Out of those who survive the NATO bombings, many die trying to get into Europe. Specially these days that some EU countries like UK are sinking their ships to get rid of them. A small portion that enter Europe are treated harshly and their belongings are confiscated to cover the "cost of their asylum" (eg. the Jewelry Law in Denmark that lets the police seize anything that costs more than a grand).

Quote
Why don't you wanna talk about these, what we give and what we get? If I visit Iran/Iraq to claim asylum, will they treat me the way we treat refugees in our countries?
Considering that how over the past 20 years as US+EU coalition has been directly or indirectly involved in wars in most of Iran's neighbors (Iraq, Syria, Afghanistan, Armenia, Azerbaijan) and how Iran has been the gracious host to millions of refugees from these countries providing them with homes, jobs, education, etc. the answer to your question is no you won't be treated the way EU treats refugees.
1457  Bitcoin / Bitcoin Discussion / Re: The Impact of Blockchain on: September 05, 2023, 02:25:42 PM
Quote
Finance: The World Economic Forum suggests that blockchain could store 10% of global GDP by 2027, reshaping traditional finance.

The blockchain cannot "store" GDP, because GDP is the cumulative amount of goods and services, that were sold in a certain time time(usually one year). I guess that those analysts mean that the blockchain could store financial assets, that will be valued at around 10% of the global GDP by 2027. This is still very optimistic and I don't share the same expectations.
They are talking about market cap that they claim can grow to 10% of global GDP ($8-$10 trillion) by extrapolating data of how it grew in the past years and is currently sitting at around $1 trillion.
It makes no sense to even compare GDP with sum of all shitcoin market caps but that's what they're doing Tongue

Quote
I'm beginning to believe some crypto haters, who say that blockchain technology is just a "glorified database". Everything you could do with the blockchain can be done by using a simple online database.
Blockchain is the slowest form of database that needs to have another big "normal" database on top of it to even be used. Even in bitcoin we have another "normal" database (a simple key-value db) called UTXO-set or ChainState to use the blockchain.

It is not the blockchain that makes bitcoin what it is. There are a lot of things from PoW to the distributed nodes that make it work. The problem with others is that they think they can just pull out one aspect (the blockchain) and gain all the benefits.
1458  Bitcoin / Bitcoin Discussion / Re: Are miners congesting the bitcoin network? on: September 05, 2023, 02:17:37 PM
This example block also is proof of another concern I raised before about the Ordinals Attack which the burden this attack has on the full nodes since not only full nodes have to store all this junk data on their storage disk (and waste precious resources) but also they would have to keep each of these garbage outputs that can not be spent (due to being small) in their UTXO set which means an artificially and rapidly growing database which they would have to load and access each time they want to verify a new tx or block they receive.
1459  Bitcoin / Bitcoin Discussion / Re: Are miners congesting the bitcoin network? on: September 05, 2023, 08:25:27 AM
I have not done any deep investigation but looking at the block example you shared and some other blocks with such transactions, I can say that this is the continuation of the same Ordinals Attack that started months ago, specially since as I warned months ago with the growing side-market that encourages this type of spam attack, it is not going to die anytime soon.

Here is an example transaction from the block you shared that clearly contains the Ordinals Junk which can be seen if you expand the scripts:
https://mempool.space/tx/688ef9666c8a9a0c40f318ff0f86b35c9575bd54d00893a189c2eba97bdc44d1
With the address that can be searched on the Ordinals Attack Explorer to see the actual junk:
https://ordiscan.com/address/bc1qnj580ysw0q7j5uvawh3mnqtjmyc9jrd8hnmek6

Compared to 4 months ago the scamfest market that feeds this attack has grown by 2800% in size (to $28 billion from the $10 million daily volume)!

Quote
then doesn’t matter if they pay more fee than the output amount
This part of your assumption is correct, it's just that miners aren't attacking bitcoin, the Ordinals Scammers are (which may include miners behind the scene). In the side-market where they trade the garbage with each other, they don't care about paying high fees as long as they either scam the money from someone in their trade or hope to make profit despite losing money.
1460  Bitcoin / Development & Technical Discussion / Re: Bitcoin's Genesis Block Difficulty on: September 05, 2023, 08:07:13 AM
And also, it would be ridiculously easy to mine the genesis block because the difficulty is so low, and since there were no ASICs or GPUs or things like that mining back then, it was just with a regular CPU that could be completed very fast. That's how regtest manages to work as well, by artificially setting the difficulty to a low-enough value to bootstrap the network.
A regular CPU is already slow and they were even slower back in 2008 compared to today with all the core count rises and the parallelism improvements. It also can not be compared with RegTest because the PoW limit of RegTest is far less than the minimum on MainNet and TestNet.
7fffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffff vs 00000000ffffffffffffffffffffffffffffffffffffffffffffffffffffffff.
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