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1941  Economy / Economics / Re: The world continues dumping US dollar (Gold, New World Order, World War III) on: June 10, 2023, 10:54:22 AM
Speaking of dumping the dollar, when THE US colony threatens its "boss" with "economic pain", you have to realize that the old world order is dead and done with.

Yesterday the Washington Post published an article basically approving what we've been saying all this time about Saudi family in control of Arabia giving up on United States and recognizing the actual super powers in the region that have "whipped" the al-Saud into submission.
According to the article this threat by the Saudi dictator has already scared US regime enough to not act against them at all in the past 8 months ever since they threatened US despite their constant chest-pounding in the media.

https://www.washingtonpost.com/national-security/2023/06/08/saudi-arabia-cut-oil-production/

For those who are out of the loop, for decades US has been able to enforce the biggest scam of our lifetime called Petrodollar through the Saudi family. Lately the Saudis have also been "dumping the dollar", slowly but surely.

P.S. Another indication of the worsening relations between US and its cash-cow is the article itself. The fact that the Post and others have only been recently allowed to openly talk about the Saudi war crimes in Yemen and the murder of the Washington Post journalist by the Saudi dictator speaks volumes.
1942  Economy / Economics / Re: The world continues dumping US dollar (Gold, New World Order, World War III) on: June 10, 2023, 05:23:07 AM
One should not speculate that the devaluation of the US dollar will lead to a World War III or even a new world order.
The value of dollar is one of the main factors of the old world order. After all that is the main thing that made US the power in the unipolar world. That world order is already dead and the new world order established last year. At this point is is only solidifying with different countries competing to get bigger slice of the "cake of power".

As for WW, I said before that it is not necessarily an armed conflict. At least not in the traditional sense like the first two WW and at least not at first. It will be fought in different battlefield including economical, food and most importantly the proxy wars (eg. Russia vs Ukraine, China vs Taiwan, Iran vs Saudi+Taliban+Azerbaijan).
1943  Other / Beginners & Help / Re: Is there anyone else who shares the same sentiments? on: June 10, 2023, 05:12:56 AM
There are a couple of reasons in my opinion:
1. Binance is primarily an altcoin exchange and doesn't have a significant share of the bitcoin-fiat market (not to be confused with bitcoin-stablecoin market) which is the main important market when it comes to effects on the price.
2. This is not the first time an exchange is starting to face issues with authorities and it won't be the last. This is also not a big issue when compared to previous cases of exchanges running away, shutting down overnight, etc.
3. At this point there aren't as many weak hands left in the market so whenever any negative news comes out, there are less people who panic sell hence a weak reaction to any kind of negative news including the thing with Binance.
1944  Other / Politics & Society / Re: Iran is about the get enough Uranium for a nuke thanks to Trump's "great deals" on: June 10, 2023, 04:10:50 AM
2 propaganda topics! What's up bro?

Iran is about to gain nuclear capability in months if not weeks.
FYI they've been saying that Iran is about to build a nuke in 2 weeks for the past 2 decades, at least.

Quote
Does anyone feel "the world is now safer thanks to Trump"?
You gotta love the irony in US being worried about another country maybe building a single nuke while US has thousands of nukes and other kinds of WMDs and has a history of using them regularly Cheesy

The point was to keep them a year or two away at all times from having enough required to create a weapon so that f they broke the deal,
Wrong.
JCPOA was targeting was a start and was targeting a lot more than "nukes". It was targeting or hoping to target Iran's defensive capabilities. Long story short they were hoping to do what they did to Iraq, to Iran too. First sanctions, then disarming then famine followed by an oil for food enforcement then more sanctions and disarming and finally invasion. All because Iran has the most amount of fossil fuels (oil+gas) in the world.

Iran's genius was to accept JCPOA but make it only about nuclear topic. They disabled everything like the nuclear power plants, the nucleology (nuclear medicine) programs and a lot more but improved the shit out of Iran's defensive capabilities.
That is why Trump pulled out of JCPOA. Because it wasn't serving its purpose which was to weaken Iran's defenses to invade and take control of that sweet sweet fossil fuel fields.
1945  Other / Politics & Society / Re: Taliban are fighting with Iran on: June 10, 2023, 04:04:35 AM
HAHA
Over the past month or two the Taliban cavemen attacked Pakistan 19 times but only had a single clash with the Iranian border control (with AK47 not with American weapons left there when they escaped).

It's funny that there was no news about those 19 encounters that were bloody but when it comes to Iran the propaganda machines become super active Grin
1946  Economy / Economics / Re: Russian Gas ban - A problem for Europe or suicide for Russia? on: June 09, 2023, 05:40:26 AM
The problem for OPEC+ is that the demand for oil hasn't yet recovered to pre-pandemic levels. This is due to a number of reasons, and employees preferring to work from home and hybrid system of work is one of the causes. And China's slow economic recovery is another reason. Oil producers don't have any option other than to reduce their production. Else the crude oil prices will go below the $70 per barrel level. Even now, with all the production cuts and reduced output from Russia, oil has struggled to move past $80 per barrel since April this year.
Part of the reasons for the decisions that were made in OPEC to reduce production has always been to manipulate the market by changing the supply hence keeping the price at a level that they want. It's not new either, as long as these countries were exporting oil internationally they did things like this to dictate the price (as much as they can).
1947  Economy / Economics / Re: Twitter ad sales down 59%, company valuation down 66% on: June 09, 2023, 05:31:22 AM
You are right! There is a hope that he wants to keep free speech on Twitter but there is another problem, billionaire and free speech? A billionaire that pumped and dumped market for personal growth and made people buy Dogecoin? A real shitcoin? .
To be fair, in United States the term freedom of speech has always been part of the dictatorship because it always comes down to one definition: "you are free to say whatever you like as long as what you say doesn't have any conflict with the regime's interest". It is not up to Musk or anybody else either, it is the US regime's decision considering how US sees the internet as a whole, a military ground and it is even under the supervision and control of the armed forces of US (under Department of Defense) and even has a 4-star general in "control" of it.

His intention was the development of an AI and now he says that it's a threat,
To be fair that too is the US regime's new policy. The shift happened in the past year with mass advertising of AI as something "dangerous" and there has been lots of attempts to "discourage others" from doing any kind of development in this field while US does it under the radar to try and get ahead since US has fallen far behind in AI technology specially for military applications.
1948  Bitcoin / Wallet software / Re: from closed source to open source wallet[what is the risk] on: June 09, 2023, 05:12:44 AM
Should I agree with this? Anyways you said "it can be argued". I believe open source concerns about making the codes visible and accessible to every developer. So, this shouldn't determine if a wallet is non custodial or not.
It can be open source and still compromised.
When we talk about security, it is sometimes like defensive measures you take to increase your protection against different types of attack hence increasing your security. For example when you use a non-custodial wallet you eliminate certain ways you could lose your money and bring yourself one step to being safe. When you use an open source wallet you eliminate other ways of losing your money,... when you use a popular open source wallet you eliminate another set of ways you could lose money, and so on.

You may never be able to eliminate every single way you could lose money but that doesn't mean you shouldn't try to eliminate what you can. This is why when it comes to choosing between a closed source wallet and open source wallet the later is always the choice whether or not there is any way that the later could also be compromised.
1949  Bitcoin / Development & Technical Discussion / Re: Should we have a two, or even three, tier fee structure? on: June 09, 2023, 04:43:07 AM
And I have repeatedly told you that this is simply false. Not always. Sure, block metadata is very limited, but transaction metadata is virtually not. It's entirely valid to send 0 coins to the Bitcoin whitepaper, represented as an OP_RETURN. This has always been the case. Sure, the Bitcoin network marks most of these as non-standard, but you're not arguing for standardness but for validity.
I'm talking about different ways of limiting different ways to attack Bitcoin. Sometimes it is a hard limit by making something invalid (eg. 100 byte limit above) sometimes it is a soft limit by making something non-standard. But in both cases we are preventing attacks and abuse of the system but with different approaches.

In case of standard rules, sometimes they are applied because we want to leave the protocol open for future expansions. Like witness version 2+ being nonstandard.
Sometimes they are applied because there was a flaw in the protocol that needed to be "fixed" without needing a fork. Like restricting the dummy data used by OP_CHECKMULTISIG(VERIFY) operations.

Quote
And, as an emphasis to the title of this thread, the "problem" with Ordinals isn't that they're using the network as cloud storage per se. It's the extra buck "genuine Bitcoin users" have to pay to gain priority. If that wasn't the case, I'm pretty sure y'all wouldn't care the slightest of what these people do. You just don't think it's "worth" the extra buck to have them on the chain, but I'm honestly curious if you acknowledge this way of thinking can be imposed on your activity as well.
The actual problem as I have said many times is that people are abusing Bitcoin. The extra fees is the side effects of that abuse. There are a handful of other negative side effects of this types of attacks, including but not limited to: blockchain bloat, the UTXO bloat with dust outputs, extra cost of running a node, possible legal issues involving the content of this attack that could give some malicious governments the excuse to put pressure on businesses and individuals using bitcoin, ...
1950  Economy / Economics / Re: 3x inflation in my life time (Im 30) does bitcoin fix this? on: June 08, 2023, 08:32:09 AM
how does bitcoin fix this?
Considering how "this" means the economy on the global scale where the centralized governments in each country keep printing money non-stop and without any actual cap, the answer is no. Bitcoin can not and is not designed to fix the economy or fix the government or the banking system.
In other words governments have been printing fiat non-stop before bitcoin and they will continue doing so after bitcoin (2009). They just raised the money printing cap (debt ceiling) in US to print trillions more Tongue

Bitcoin is supposed to be that extra option for those who want to gain at least some financial sovereignty in a world where it is lacking.

1951  Bitcoin / Bitcoin Discussion / Re: Atomic Wallet hacked! Get your funds out now! on: June 08, 2023, 08:24:55 AM
Yeah, about that!
It happens when you let third parties to manage your funds, when will people learn that bitcoin is money and since there is no central safe keeping party to insure the safety of your funds, you should never put your funds in the hands of crypto-bank wannabes.
Since Atomic Wallet was not a custodial wallet, users weren't exactly putting their funds in the hands of the company behind the wallet. They had control over their own funds but the problem was that because the wallet is closed source they didn't know who else also has access to their keys and consequently their funds.
1952  Bitcoin / Wallet software / Re: from closed source to open source wallet[what is the risk] on: June 08, 2023, 04:34:05 AM
In addition to what is discussed here you should not forget that migrating to an open source wallet is not going to provide complete security on its own. There is a lot of other things that need to be done to gain a good degree of security.

I'd say at least there are two important steps:

First step is to making sure you are actually getting the correct software for installation. This is done through some research and finally by finding the correct public key of the developers and verifying the signature of the wallet binaries you are about to install. Example for Electrum: https://bitcointalk.org/index.php?topic=5240594.0
Otherwise if you skip this important step you may lose funds in this step.

Second step is to securing the wallet you chose. For example by using it offline (in an airgap computer) as opposed to using it online on the same system you use to surf the internet.
1953  Bitcoin / Development & Technical Discussion / Re: What is the differences between Hash and Secp256k1? on: June 08, 2023, 04:22:55 AM
but encryption is reversible and a hash function is not.
If encryption is reversible, then how is still Bitcoin's alive? Every day thousands of public keys are exposed
There are a couple of mistakes in the odolvlobo's comment.
First of all Elliptic Curve Cryptography used in bitcoin has nothing to do with encryption. The primary use of ECDSA (the signature algorithm used by bitcoin) is also for asymmetric cryptography not symmetric cryptography (ie. encryption/decryption).
Secondly what we have in symmetric cryptography is encryption and decryption which is not the same as "reversing" the result. You are "decrypting" the encrypted result using the passphrase used for encryption. Otherwise the encryption is also irreversible, meaning you can't compute the message by having the encrypted result alone.
1954  Bitcoin / Bitcoin Discussion / Re: What's Wrong with Roger Ver? ::) on: June 06, 2023, 04:49:46 PM
I don't know if he is a kind of developer/programmer or whatever. How did he help Bitcoin? Of course, he helped build a business with Bitcoin which Bitcoiners appreciate. When some of us call him a scammer, people argue.  Roll Eyes Instead, they call him a pure businessman who adopted Bitcoin for his benefit and is still vouching for a centralized Token with no supply limit and no proof of work!
It doesn't really matter what he may have done for bitcoin in the past if you ask me. What matters is the scam he pulled in the end.
I'm not going to make accusations and I don't really care enough to find out what he has done in early years but one wonders whether his intentions were always to scam people. After all this is not the first time, the most recent case was Elon Musk who gained some popularity in the cryptocurrency world by speaking positively about bitcoin, even accepting bitcoin in his companies right before he started scamming people with pump and dumping shitcoins, namely Doge.
1955  Economy / Economics / Re: I hear de-dollarsotaion over and over again it's funny on: June 06, 2023, 12:58:02 PM
Smart question Will be when we Will see USD Market trading pairs being removed halted or replaced by other currencies?
You ask this question because you have been reading propaganda about dedollarisation not the reality of it which is why your question which you think is smart is actually an unrealistic question that makes no sense.

Dedollarisation is not going to make USD disappear or the trading pairs to vanish. Dedollarisation means different countries are no longer forced to only use this fiat with unlimited supply from an artificial country with almost $32 trillion debt that is printing it non-stop and exports the resulting inflation to those countries.
The real dedollarisation means reduction of dependence on dollar, that consequently reduces USD strength and US power to dictate policies in those countries while strengthening the economy and independence of those countries. So countries that were using USD for 90%-100% of their everything (reseve currency and trading medium) will slowly reduce that to 80%, 70%, 50%, 30%,...

For example after dedollarisation when Indonesia wants to trade with Philippines they don't have to do it using dollar anymore. They'll use numerous different ways they used for thousands of years before United States was invented or they were forced to use dollar and dollar alone. But when each of them want to trade with US or its colonies they can still keep using dollar.

Most importantly, this process is not going to finish over night.
1956  Economy / Speculation / Re: Time to Hodl or buy the Dip? on: June 06, 2023, 12:46:43 PM
The global economy is too uncertain right now to make any serious investments in my opinion. And it is not only about bitcoin, it is about everything else too. With the ongoing recession and inflation and with the recent re-start of the money printing machines in United States after they increased the debt ceiling we are in for more of economic uncertainty.

For now stick with DCA and HODL...
1957  Bitcoin / Bitcoin Discussion / Re: Bitcoin(BTC) vs wrappedBitcoin(wBTC) on: June 06, 2023, 10:40:22 AM
I had heard of wrapped bitcoin but did not know about all these coins pegged to the bitcoin price. What is the point of them? The only one I see is to catch clueless people like the OP's friend.
That's exactly the reason, to catch newbies who don't know any better.

The principle is usually the same too with all tokens (including stable coins). The creators of such tokens have no money, no revolutionary idea or anything they could use to make money. So instead they sell "air". They simply create these tokens and start selling them to newbies, making money in the process!

The fact that there is also "staking" on top of it where you get profit for holding your bitcoins in THEIR pocket shows what a filthy Ponzi scheme this is Cheesy
These things don't fall apart like regular schemes since there is a market where people keep trading them. In other words some of them manage to create an artificial utility that lasts as long as the gamblers keep trading. Then it falls apart catastrophically.
1958  Economy / Speculation / Re: SEC Lawsuit Against Binance Is Likely To Hit Bitcoin Price on: June 06, 2023, 10:28:39 AM
At the end of the day Binance is primarily an altcoin exchange and whatever happens to it should affect the altcoin market significantly not bitcoin's. But realistically speaking the FUD always finds its way to the bitcoin market and affects the weak hands hence causing the drops like we've seen too many times in the past.
Besides, what SEC does to Binance is not the issue here, what the FUD is going to be and how it will affect the market is the only thing that matters.
1959  Economy / Economics / Re: Twitter ad sales down 59%, company valuation down 66% on: June 06, 2023, 06:31:44 AM
One of the buyers of Twitter together with Musk was a Saudi prince. Maybe Musk will start offering censorship/propaganda/data harvesting service to governments for a large fee to offset his ad revenue losses.
They have been doing that for many years but it officially started under the code-name "Etidal" in 2017 aiming to data harvest, censor what the regime doesn't like (eg. news about the journalist they murdered in broad daylight) and to spread extremism/terrorism when they want it in places they want. Saudi regime is only one of many customers Twitter has for such operations.

Keep in mind that Musk didn't buy Twitter to make profit (as a business). He did it to gain power over information and in the political scene. This means such drops does not matter at all, the only drop that matters is in the number of users and the propaganda's reach which is not happening so far.
1960  Economy / Economics / Re: Dedollarization is here, like it or not on: June 05, 2023, 03:11:51 PM
Russia has also faced some when they tried to take INR instead of US dollars and then they have no other means to use those INR, and now they have useless Indian currency. (source).
That news is mostly twisted and the situation is blown out of proportion. Of course there is going to be disagreements and most importantly competition between countries that want their own fiat to be dominant not other countries'. What we are seeing is the transitional phase where things change while different countries compete with each other to get a bigger share in the new world order.
In fact this is the period where weak countries are going to be swallowed, even borders may change. And this has happened many times in the history.

they will overcome them and will come up with such the bold moves that they made when Saddam Hussain declare to use the Pond as a payment method instead of US dollar in Iraq for the trade of their Oil and US invaded Iraq after that with the slogan (mission name " freedom of Iraq" something like that)
It took nearly a decade to prepare for that invasion (sanctioning Iraq, causing famine and starvation in the country, disarming of Iraq, attacking defensive positions of Iraq, etc.) then US invaded with a massive coalition with NATO and dozens of countries like Ukraine.
The difference is that there are loads of countries that are dumping dollar these days and US neither has the time to prepare for such invasions nor the global coalition to perform such invasions nor any are those countries weak to be invaded.


As @Darker45 put it perfectly, the process is not linear and has ups and downs. With the recent 15th BRICS summit the dedollarisation should speed up again among the member countries (both official and unofficial members). I'm waiting for more news about it to come up with a better analysis, but so far many positive news has come out with numerous economical cooperation that would help all the involving economies and some of which involve dumping dollar.
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