I'm not familiar with US politic and it's ideology, but doesn't Republican claim itself as conservative while Bitcoin generally seen as progressive ?
It depends on the point of view. In this case if we are seeing things from the point of view of the government that is seeking total and absolute control, Bitcoin is more of a destructive force that easily undoes years of efforts for surveillance and control. |
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Maybe the small sect of fanatic Bitcoin Cash supporters would still trust Ver, but I'm not sure how many people still support BCH.  I don't think anybody ever really "supported" bcash. Just like Ver, as you pointed out, it was an opportunity that many people took advantage of to make some money. For example when the miners switched to bcash was because they had manipulated the difficulty adjustment rules and over a thousand blocks were being mined per day (instead of the normal ~144 blocks/day).  That's the thing with this new shenanigan. Nobody gives a crap about Ver but if some opportunists see a potential in his bullshit advertisement, it could suddenly become a pumping opportunity. Although so far ETH is dumping more than it can pump... despite the desperate pumping attempts... |
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However, including metadata in a transaction has been a feature since January 3rd, 2009. The manner which will happen isn't, but the fact is that you could always include non-monetary data in a transaction.
That's true but that has always been extremely limited to prevent exactly this type of abuse that turns bitcoin blockchain into a cloud storage. For example the coinbase scripts where you can store "metadata" and Satoshi used in Genesis block has always been limited to 100 bytes (0.01% of total block size) and you can only have one of them per block. |
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why do you think casey had any malicious intentions towards bitcoin? my best guess is he was just some guy that wanted to invent something and he had no idea or anything about anything else. lets not label him as a bad guy without some type of proof. maybe he's dumb because he didn't know he was opening up a pandoras box but dumb does not equal malicious does it?
I have a hard time believing that someone who is capable of finding an exploit in the protocol hidden in the verification rules and not publicly known, is someone who is "dumb" and doesn't know what he is doing. Find a better solution.
Well, we first need to get everyone to agree that we need to fix this oversight that is being exploited then begin arguing about the fix. Right now there are still people who either say "it will go away on its own" or claim "there should not be any fix at all". |
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I think this is one (even though not the most loved) of the most logical next steps for Bitcoin adoption.
Exploiting a protocol and abusing it is not a way to help its adoption, it is a sure way of destroying the whole system. I think Ordinals will drive a great demand and awareness of Bitcoin
Wrong. Those who are scamming people with the Ordinals Attack and those who are gambling in the fake market with fake tokens aren't interested in bitcoin at all. They aren't even using bitcoin, they are gambling with their money in a centralized platform. and can potentially convince ETH lovers or alt-coin holders to flip back to BTC only.
Wrong. There are no ETH lovers or altcoin holders, there are bag holders of altcoins who are holding them hoping to recover the funds they lost after they got dumped (eg. ETH going from 0.15 BTC down to 0.07 BTC). They won't dump it to buy fake tokens. to Bitcoin NFTs
There are not such thing as Bitcoin NFTs. Bitcoin protocol simply does NOT support NFTs. The scams that I'm so far bag-holding are the following:
FTFY |
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For those who can smell a rat, can you use your sixth sense to tell if this Democratic presidential candidate is a true Bitcoiner or a pseudo Bitcoin supporter?
The real question is not what a politician says but what they do. In other words you don't need to have sixth sense to know the answer, all you need to do is to look at his past and see what actions he has taken so far in favor of bitcoin! P.S. In the previous US election there were others (whom nobody remember today) that spoke positively about bitcoin trying to gather support. I don't see any difference here. After the regime chooses another 2 puppets (Biden 2.0 and 3.0) and introduces those two for Americans to be forced to choose between, these others are forgotten too. In other words it doesn't matter if Jr is really pro bitcoin or not  |
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Based on what I've experienced in the past decade I categorize cloud mining services into two groups.
1. The outright scams
These are services that have little to no hashrate and are created as a pure Ponzi scheme to rip people off and steal their money. The main characteristic of them is that they won't last long because this type of scam is not sustainable.
2. The partial scams
These are services that have actual hashrate and at the start they may even be legitimate services that might even be honest too but eventually they realize that they can not pay their "investors" while making profit themselves not to mention that the profit their investors earn is small so they can't attract enough money.
So they too start becoming a Ponzi scheme by selling fake hashrate and go the same direction the first group went.
This group lasts longer though.
This is why people always say all cloud mining services are scams and should be avoided.
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The main characteristic of a successful malicious attack on bitcoin is to get the bitcoin users to do it not yourself. Remember the nonsense called "stress test" years ago? It wasn't just one silly company spamming the network. They got bitcoiners to spam too by funding loads of addresses with small amounts then publishing their private keys. The result was nodes that were flooded by double spends and the mempool that was flooded with spam transactions that didn't come from a single attacker. In that scenario CoinWallet was the origin of the attack but wasn't the lone attacker. That is the main principle that the Ordinals Attack is using too. It is not one entity that performs the attack but they have fooled loads of people to participate in it by creating the parallel scam market and the tools to perform the attack. In this scenario Casey Rodarmor, Unisat, etc. is the origin of the attack but aren't the lone attackers. The principle is commonly used in color revolutions, which I dare say is what's been happening to Bitcoin. One of the signs is seeing old bitcoiners defending this exploit of the protocol in the name of Bitcoin principles such as censorship resistance! |
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sad fact: nearly 4million Bitcoin have been lost forever, guess we can never get more than 17 million BTC in circulation
This is not a fact, this is a speculation and even if it were true or even if 20 million out of 21 million were lost it still doesn't justify taking any step back from having full 100% control over private keys that are generated on a 100% airgap system and never letting anything about them leave your machine. |
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El Salvador will certainly be one of those places.
That's an interesting point. With the adoption of bitcoin as legal tender there should be a decent increase in mining operations in El Salvador over long term, although there is very little news or data about such operations there which is surprising. There definitely is enough potential with renewable energy (geothermal, hydro and solar) that they use too. Not to mention growth of the mining industry will help build more infrastructure for electricity production in the country. This could attract miners with or without the restrictions in US. |
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In 2017, Roger Ver Turned Into Bitcoin Cash.
Well that's an understatement! He didn't "turn into bcash" he became the biggest scammer of 2017 onward. As you may know he owns and controls bitcoin.com website, something that many newbies find in their google search about bitcoin. In this site he not only promoted this shitcoin but he scammed numerous newbies by selling them bcash when they tried buying bitcoin. In fact you can find many confused newbies on bitcointalk from those days asking why they never received bitcoin when they bought it from Roger Ver! What's wrong with Mr. Roger ver? Did Vuterin Start Paying him to vouch for ETH? What is your thought?
We have to wait and see but considering his history, he may be brewing another scam to rip many newbies off. Specially since to this day nobody has said anything remotely positive about the biggest scam of cryptocurrency market without having a personal benefit in it. |
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One of the problems some people think a 12-word seed phrase is not safe is the number "12" since they think it is short. But what they don't know is what these words represent which is a randomly generated "entropy" that is 128 bits. And this size of entropy is strong enough that makes collisions impossible.
So when someone claims they changed the last word and found a valid seed with funds in it, this is not about changing a word out of 12 and getting lucky, it is about changing 7 bits in 128 bits and finding 2 collisions: first a 4 bit checksum collision (to get a valid mnemonic) and second is a 128 entropy collision (to find a funded wallet). This is obviously impossible.
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Bitcoin Core is completely unaware of ordinals and inscriptions.
Correction: Bitcoin is completely unaware of the Ordinals Attack. In other words you can not use any of the bitcoin wallets out there to abuse the protocol to send what they call Ordinals inscription. BTW you don't need to receive this attack transaction in a P2TR address, only the sender who wants to spam the chain with the junk data needs to do that, the receiving address can be literary anything because obviously there is no tokens to be moved and the junk data is not being transferred. |
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I don't see the sideways trend changing without some significant event. However with the irrelevant news about US possible default coming to an end we may get rid of some FUD in the market that has been creating artificial sell pressure so the sideways may end up with slight rise.
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Taking into account the fact that the other day it was calculated that with the help of Ordinals only 10 million of all different tokens were issued, and about 200 thousand are issued per day, it turns out that it is completely pointless to issue stablecoins pegged to the dollar, because the number of such tokens is simply incommensurable with opportunities in other networks. Some expensive and inefficient toy.
This is one of many reasons why tokens and token creation platforms are all useless and the projects you see are all scams. There is simply no way to prevent people from creating the same token over and over. BTW as I said before there has been 0 tokens created on Bitcoin Blockchain since it is impossible to do so. They are storing an arbitrary data in the blockchain and falsely call that a "token". |
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Dedollarization may be a fact but I think it will be a very slow process. The U.S. dollar is so pervasive as a reserve currency that it has become an integral part of the economic infrastructures of every country in the world.
I think we are looking at decades rather than years.
That's correct. Dedollarization is a slow process considering we are talking about a significant change in monetary system that the world is addicted to already. But it definitely won't be "decades". Some US senators and many other politicians, economists, etc. have made statements that usually talk of about 5 years until US dollar completely loses its position in the world. Let's see what the new standard the US will use to restore confidence in its currency.
I'm very curious to see what they are going to do this time too but there is nothing left for them to do. You see back in the 70's, US was still a superpower and no other country (except USSR) was even close to being half powerful. Today the world is very different, there are many emerging powers that are even stronger that United States in different fields, like China, India, Iran, Brazil, ... Not to mention in the 70's because US used to be a super power they could force other countries to bend to their orders. Like ordering Saudi regime to adopt Petrodollar scam. Today when they order Saudis to increase oil production to reduce the global price and help decrease US inflation, the Saudi regime outright refuses and there is nothing US can do about that! And Saudi Arabia is basically a US colony! OK, dedollarization might happen.
It is happening already! Putin's propaganda keeps repeating the same "dedollarization" theory over and over again.
Why is it that people think everything that is negative about West must be Putin's propaganda? I don't mind. I don't give a shit about the US dollar.
That means you don't understand the significance of it. Dollar is used by all countries for trading and reserve currency. Both US inflation and USD dump affects the global economy. In fact part of the inflation around the world is because of dollar. Think of it as repetition of 2008 collapse that affected the whole world. The more you rely on USD the more affected your country is going to be. High inflation, unemployment, disruption in all markets,... are some of the effects. Weaponizing the US dollar and the financial infrastructure was a big mistake by the Biden administration, but I couldn't care less about the "libtards" in the USA.
Biden didn't start the weaponisation and won't be the last POTUS to do it. They've been doing it ever since WWII. |
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Dedollarization appears to be an unstoppable trend as countries around the world look to reduce their dependence on U.S. currency.
Countries, particularly those in the Global South, are reducing their U.S. dollar reserves, settling cross border transactions in non-dollar currencies, and exploring the formation of new multilateral settlement mechanisms.
A major driver of this trend is Washington’s weaponization of the dollar via expansive sanctions that currently cover 29 percent of the global economy and 40 percent of global oil reserves.
Of course one important fact that responsiblestatecraft got wrong is that dedollarisation didn't start after Russian NATO war, it has been going on for a long time. At least for the past decade countries have been negotiating alternatives and economic blocs and groups like BRICS have been working on building such systems. The main reason for its speed up in 2022 till today is also not sanctions on Russia but the fact that the old world order (the unipolar world) officially died. Consequently the world started dumping the fiat of the lone world hegemony that no longer has the same strength as before. Some would even say that dedollarisation started after 2008 US economy collapse (which also led to creation of bitcoin). What's interesting is that these days and possibly this decade looks a lot like the 70's. Similar dedollarisation was happening then too and Europe was also trying to dump the dollar to which US responded by Petrodollar and: The minutes also clearly stated that such a move would be detrimental to America’s interests and that, if Europe tried it, America would “squash” them. Ultimately, for the plan to succeed Germany would have had to cooperate. But with the Soviet Union looming on its doorstep, it was in no position to cross the U.S.
Same thing US is doing to Europe today, "squashing them". On one hand US has created another "USSR" boogeyman to scare Europe and on the other hand has increased the reliance of Europe on US in energy, weapons, and a lot of other things. Similar actions are also being taken in Europe which led certain European countries, particularly France, to begin to exchange their dollars for gold.
France has been making some trades in Yuan, "ditching the dollar". As such, in just over a 12-month period, countries around the world mustered the courage to begin openly discussing the creation of alternative methods to conduct trade and settlement, as well as reducing their dollar reserves. The trade and settlement role of the dollar is where most of exiting will occur and where the demand for the dollar will fall away more precipitously.
Furthermore, BRICS countries have attracted numerous new member applications over the past year, with Egypt, Turkey, Algeria, and most recently Saudi Arabia showing interest and making declarations about creating a BRICS currency to compete with the dollar.
Many of these countries have been aggressively adding to their gold reserves over the past 13 years, and the size of their purchases has been accelerating, suggesting that perhaps any new currency might be backed by gold. Brazil (which has become increasingly vocal about its displeasure with the U.S. dollar system) and Argentina have started promoting the idea of creating a South American trading block and currency, the sur, similar to the European Union and euro.
The laundry list of dollar alternatives is long and growing daily. Examples include China testing cross-border digital currency settlements with Thailand and the UAE, insisting that sanctioned countries such as Russia, Iran and Venezuela accept yuan as payment for oil. Saudi Arabia is considering doing the same (there are rumors that Saudi is already selling oil for yuan and converting those yuan for gold on the Shanghai exchange). India is also buying some of its Russian oil in UAE dirhams. The simplest method, which is becoming increasingly popular, is bi-lateral agreements using local currencies.
BTW another incentive to dump the dollar which is usually forgotten, is different countries debt which is priced in dollar that has been rising in exchange rate because US manipulates the market and keeps the exchange rate up. Dedollarization fixes that too, which is another incentive for all the countries to dump the dollar. Much of the global community is cheering, however. A lot of sovereign debt held by the global south is denominated in greenbacks, and an overpriced dollar makes debt service nearly impossible today.
The critical unanswered question is how the U.S. will respond to moves to de-dollarize. Any sudden decrease in U.S. dollar demand could have disastrous consequences for Americans. It could potentially trigger a U.S. dollar crisis leading to very high inflation, or even hyperinflation, and initiate a debt and money printing cycle that could tear apart the social fabric of society.
In short, any U.S. administration would ultimately consider any such de-dollarization moves to be matters of national security.
History has demonstrated that it is exceptionally rare for a transfer of global economic power to take place without major warfare.
A much more important question is whether United States has the military capability to start a war to prevent dedollarization? From what we've seen over the past 2 decades, and how US military policy has been proxy wars; I'd say NO. But this doesn't mean we aren't going to see more conflicts like the ongoing Russian-NATO war, this means we will see more proxy wars where US stands back while others fight and destroy their own countries (eg. China-Taiwan). |
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The most they could ever do right now is to make sure that they are regulating it harshly if they want to, USA doesn't but China sort of does. That's all their power could do, anyone all around the world could still continue to use it anyway they want and bitcoin will continue to exist. They could just go back to their own nations and do what they can with the power they have over their own nations, we will continue to be global.
They are all the same when it comes to being hostile towards bitcoin, the only difference is in their approach. For example the Chinese government outright banned bitcoin mining while US government restricted the hell out of the miners and even forced them into censoring transactions (like MARA pool). At the end of the day they want full control and don't want bitcoin to even exist. But they also know they can not stop bitcoin so they try to regain at least some of that control using other means like US forcing everyone to use Coinbase for both trading and storing bitcoin. ie. full 100% control and monitoring. |
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I agree with you that MIT license is very permissive for decentralized project like Bitcoin, but I'm very curious to know that why Bitcoin core wasn't launched in public domain? Let's suppose if the core was launched in public domain then wouldn't that be more decentralized because in that case no-one, not even the developers could have any control over it, and anyone could easily modify and add new features to it without any permission.
Anybody can change anything about the code and do whatever they want, there is just "filters" they have to go through to get them merged into the reference implementation and of course there is a community they have to convince to accept those changes. I think the Creative Commons Zero license would be even more permissive and easy to use than the MIT one, and that license doesn't require the attribution to the original creator. If the reason was permissiveness then both public domain, and CC0 license would provide more freedom.
CC0 was released in 2009 which is after Bitcoin's release while MIT license existed ever since 1980's. https://en.wikipedia.org/wiki/Creative_Commons_license#Zero_/_public_domain |
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There are loads of problems with this plan.
First is the fact that you are literary investing in a shitcoin hoping for a pump, in a long term no less! Shitcoins have no future, the best outcome is a pump in short term where you should get out of them immediately if that pump happened. And better yet not enter until the pump starts.
Secondly the economy is in a very weird situation starting from last year and will continue being in this state for the foreseeable future. This means this type of investment (taking loan and investing in cryptocurrencies) is extremely high risk specially since the altcoin market will be dumped hard multiple times in times like this.
Finally the loan itself is the worst idea ever because the governments that are struggling to keep the inflation low are and will continue increasing interest rates and that eats up into that little possible profit you were hoping to make.
As they say never invest what you can't afford to lose.
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