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2181  Economy / Economics / Re: The world continues dumping US dollar (Gold, New World Order, World War III) on: April 09, 2023, 04:16:23 PM
All this makes it possible to create a new global financial system based on Bitcoin.  To do this, Bitcoin must be officially declared the world's reserve currency, and Basel Committee regulations must be amended to require Central Banks to include Bitcoin in their gold and foreign exchange reserves. 
That would take decades just like it took decades and some word wars to become the world reserve currency. If I recall everything started from Eisenhower back in the mid 1950's when he started basically forcing people to hand over their gold to the regime.

These central banks been copping hella gold for years now. They got all sorts of reasons for doing it, like diversifying their reserves and hedging against inflation or geopolitical craziness. Plus, gold prices been lower lately, so they're taking advantage.

Now, peep this - some experts think this gold-buying spree could lead to a shift away from the US dollar as the top dog reserve currency. That could be a big deal for the US economy and global money markets. Others say nah, gold ain't that big a deal compared to the US dollar, euro, and yen.
If gold buying spree was an isolated event then we could argue about other possibilities. But it is not. We have an actual dedollarisation going on which has gotten surprisingly faster ever since I started this topic about 4 months ago. It tells us that all these banks/countries buying up gold at large quantities know of things to come, some from over a year ago.
2182  Bitcoin / Bitcoin Discussion / Re: Under capitalism eventually 1% own 99% of BTC, 1% have 99% of power? on: April 09, 2023, 03:33:16 PM
BTC is a transfer of wealth to a different system.
This seems to be your mistake, you are making a wrong assumption!
Bitcoin is NOT a distribution of wealth system. Bitcoin is simply a decentralized payment system, how it will be used and how this currency is going to be distributed has nothing to do with the design and it was never the goal of bitcoin.
The goal was to create an alternative currency that can not be censored. And bitcoin does that well.

A video that says that switching to a BTC based economy would stop war.  ~  I haven't watched the video/I want to believe, but I'm skeptical.  There was a system previously backed to a finite asset - gold - + there wasn't an effect on war.. 
Also it sometimes feels like they want to turn bitcoin into a solution for everything so I wouldn't be surprised to see someone claim that "bitcoin cures cancer" too! Basically people have been making weird claims like this for nearly as long as bitcoin has existed. Whoever made the claim about Bitcoin stopping wars has no idea how the world works and has probably never read history.
2183  Bitcoin / Bitcoin Discussion / Re: Bitcoin has a bad reputation (we should fix it) on: April 09, 2023, 05:24:40 AM
But as for now, do you think there are other ways to change these people's opinions?
The challenge is that we would be going against strong propaganda centers that have been spreading the FUD about bitcoin through the media that they also control or have tight relationships with. It is extremely hard to counter that because we don't have the same reach.
The only thing we can do is to first educate ourselves and then give those people "facts" about bitcoin with indisputable data.

Quote
Like would it be good if we could create a system that somehow will make the life of criminals who use Bitcoin harder?
Bitcoin is a tool so like any other tool it can be used for many different purposes. Just like you can't make a kitchen knife that couldn't be used as a murder weapon you can't create a currency that criminals don't use.
2184  Bitcoin / Development & Technical Discussion / Re: breaking the satoshi's on: April 09, 2023, 05:12:21 AM
According to consensus rules, the amount field in a bitcoin transaction must be an integer between 0 and 2100000000000000. (Note that in the bitcoin protocol, we deal with satoshis, not BTC. So, 1 = 1 sat)
The amount field can technically be treated as an unsigned 64-bit integer which means the max value is 18,446,744,073,709,551,615 which is more than enough for a slight increase in the division, something like shifting the value left and using the extra bits as the fraction of satoshi.

for bitcoin without a fork is not possible, but we can send value through other coins (that's nice idea to transfer value)
We could come up with a complicated soft-fork that would handle such a thing too. Like adding an extra field (like how we added witness through a soft fork) to handle the extra values (ie. fraction of a satoshi) then round the values down to remain backward compatible.
2185  Economy / Economics / Re: If the dollar/fiat was worthless! on: April 09, 2023, 04:34:55 AM
So what you are basically saying is that if the dollar loses half of its value today, you can buy the Iphone for 0.02854BTC, then you could sell it again for 1600$. And buy 0.05708BTC for that money you earned from the Iphone sale.
Read my comment again! As I said, in that scenario bitcoin price in dollar would also go up and it would be be worth $56,000 meaning if you sell that iPhone for dollar and get $1600 you can still buy the same amount of bitcoin 0.02854BTC not more.

Quote
But if I understand you correctly you are saying that as long as goods and services are priced in bitcoin, there wont be a problem with buying and selling in bitcoin, which is really a given - but how do we get to this point? And more interesting if that iphone is priced in bitcoin and it is also priced in dollar, euro, yuan etc. how will this affect eachother?
I'mt not saying that either. I'm saying that everything has a "value" and because of that value they gain an exchange rate when exchanges for something else. That something can be dollar, bitcoin, gold or groceries! As long as that value remains the same, the exchange rates remain the same too. But if value of one of these (like value of dollar) changes the exchange rate of everything (iPhone, bitcoin, gold, etc.) against dollar would change.
2186  Economy / Economics / Re: Russian Gas ban - A problem for Europe or suicide for Russia? on: April 08, 2023, 06:07:43 PM
The discussions here are all over the place sometimes Tongue
I haven't seen any discussion on the semi-recent decision by OPEC+ countries (that was mostly voluntary) to reduce their production and turn the energy prices back up again. That keeps the pressure on the Western economy up which would also force the deindustrialization of Europe to continue further.

This is very unfortunate that West is worried about Ukarine only, and not much attention is paid to fight going on in Palestine and other Arab countries. Humanity is linked with interest, the world only care for people where they have interests.
Exactly.
This is why independence of countries and the allies they choose is of paramount importance. The position Yemen (a country that is invaded by the US-Saudi coalition for the past 8+ years) took in support of Palestine from 2200 km away shows that. Meanwhile Ukraine, a US proxy is begging for rockets with more than 300 km range Cool
2187  Economy / Economics / Re: If the dollar/fiat was worthless! on: April 08, 2023, 04:44:19 PM
Great answer! What kind of system could we create for a smooth transition were everything would be valued by something other then fiat which would not be affected by inflation?
You are again forgetting the difference between value and price. Things are not valued in fiat, they are priced in fiat. Value of all currencies (dollar, euro, yuan, bitcoin, yen, ...) is in their purchasing power.

Lets say bitcoin price is $28000 and you want to buy an iPhone that is $800 so you pay 0.02854BTC. If dollar tanks and loses half of its value today, you can still buy the same iPhone with 0.02854BTC tomorrow even though at that time bitcoin should technically be worth $56,000.
This is the difference between value and price in simple terms. Bitcoin value and the iPhone value remained the same so you paid the same amount of bitcoin for its purchase despite the price of both bitcoin and iPhone going up against dollar.

To answer your question, we don't need any system for transition. Bitcoin is a stand alone currency that does not rely on fiat currency of one country. The market may be affected because it is still a small market and market participants are known for their emotional reactions but that's about it.
2188  Economy / Speculation / Re: When do you think Bitcoin will hit $1 million for the first time? on: April 08, 2023, 04:02:38 PM
That's a challenging question because things are changing too fast in the world these days. A couple of years ago when I talked about dedollarisation nobody believed me. Today it is the hot topic around the world.
The economy is facing a lot of radical changes too. With high inflation in countries that never believed it alongside recession and deindustrialization are all pushing the people in the world into thinking about alternative ways to store value. Bitcoin is an excellent candidate which means in the following years we could see a lot more adoption and at a much faster speed.

With all that said my choice is the first option in the poll (2029 or sooner) even though it is such a broad time-frame since as I said things are changing too fast and we could see $1 million in a year or two instead of 6.
2189  Bitcoin / Bitcoin Discussion / Re: Under capitalism eventually 1% own 99% of BTC, 1% have 99% of power? on: April 08, 2023, 05:07:19 AM
BTC is a transfer of wealth to a different system.
This seems to be your mistake, you are making a wrong assumption!
Bitcoin is NOT a distribution of wealth system. Bitcoin is simply a decentralized payment system, how it will be used and how this currency is going to be distributed has nothing to do with the design and it was never the goal of bitcoin.
The goal was to create an alternative currency that can not be censored. And bitcoin does that well.
2190  Bitcoin / Bitcoin Discussion / Re: Russia Ranked Second As Bitcoin Miners on: April 08, 2023, 04:58:07 AM
Bitcoin mining hashrate should technically increase in countries with the most amount of energy where the price of it is also super cheap. In other words if what you said is reliable, it is just an energy related natural growth which has little to do with the "situation".

In any case I have yet to see a solid work with reliable data that proves the percentage of hashrate coming from each country is what they say it is. So far the existing stats is disappointingly based on news hence it is either fake or unreliable.
For example the stats about US hashrate is mostly based on a fake news a while ago that "Chinese miners migrated to US after the ban" among other things whereas in reality the Chinese miners migrated to Kazakhstan and other countries in Asia and some to Hong Kong.
Or for example last year during summer a news came out that "Iran has banned mining during summer to prevent network overload" and then all these stats sites which pretend to report "reliable data" started reporting Iran's hashrate as zero while in reality that was just a news of a proposal that was never enforced hence the hashrate never really changed.
2191  Bitcoin / Bitcoin Discussion / Re: Claim an old wallet and find the relative owner. on: April 07, 2023, 05:44:50 AM
I was really surprised about LBC efforts to find addresses and try solve it.
To be clear efforts like LBC is not to "find addresses" but instead to "solve a puzzle" which means they can only find the key to an address that was meant to be found not random addresses with balance that were created using a "normal" RNG. If you check the keys they've found so far you can clearly see that all those keys are in a very tiny range making it easy to be found.
2192  Bitcoin / Development & Technical Discussion / Re: NFTs in the Bitcoin blockchain - Ordinal Theory on: April 07, 2023, 05:32:54 AM
The creation of a system to number each satoshi, then seems to allow for the attachment of inscriptions to each satoshi
The term "inscription to each satoshi" is used to distract the public opinion from the spam that is taking place. Otherwise they are not actually "inscribing" anything least of all satoshis, the junk they inject is in the input and it is in one transaction that has nothing to do with the satoshis being sent to the new address(es).

Besides if they wanted to "inscribe satoshis" they could have used the outputs, like limiting it to 2 output the first being the satoshis being sent to an address and second output being an OP_RETURN containing the "inscription". But since the main goal is to spam the chain they use inputs instead or more specifically they exploit Taproot script's lack of size limitation to inject junk into the chain.
2193  Economy / Economics / Re: Russia and others, move to use Yuan instead of dollar. on: April 07, 2023, 04:29:19 AM
To be honest, I don't think the Chinese currency has much future here in Latin America, historically we are under the sphere of influence of the American Dollar and the economic policies taken in Washington. I don't see why Brazil, Colombia, Peru or Chile would adopt the Yuan.
Dumping dollar doesn't mean replacing it with Yuan. It just means different countries would stop using dollar as reserve currency and that would in time destroy US economy. Countries like Brazil, Colombia, etc. are also not adopting Yuan, they are using Yuan to trade with China replacing dollar and they are using other currencies to trade with other countries again replacing dollar in all those trades.
2194  Economy / Economics / Re: If the dollar/fiat was worthless! on: April 07, 2023, 04:10:39 AM
It is unprecedented for fiat to go down to zero even with the nonstop printing of it. The value of it will crash hard when they print it a lot and also in case of dollar when the world abandons it and all the supply goes back to United States itself but it will cause huge hyperinflation not drop down to zero.

The effects of that on bitcoin is only a massive price rise because bitcoin's value doesn't magically change because of value of dollar ergo as dollar value dumps if bitcoin value remains the same it has to massively rise in "price".
Of course the market is so much more complicated than that. For example when the price rise starts it also attracts more investors hence increasing the value and price a lot more.

P.S. keep in mind that there is a difference between price and value. Price is measured against fiat and has different ups and downs in different fiat currencies depending on the value of that fiat. For example when Bolivar dumped, bitcoin went up against it while remaining the same against dollar. When dollar dumps it will be the same, bitcoin will go up against dollar while remaining the same against other fiat currencies (of course as I said it could attract more investors which leads to its rise against those too).
2195  Bitcoin / Development & Technical Discussion / Re: ERROR: ConnectBlock(): too many sigops / InvalidChainFound: invalid block=... on: April 06, 2023, 04:42:01 AM
This seems to be the same problem as above. A block containing transactions like this one [1] that are creating P2MS outputs (1 of 3 which is strange itself) hence inflating their sigopcount (884 in case of [1] which is the highest in that block) and the miner doesn't check the limit ergo produces an invalid block exceeding 80k sigopcount limit.

The miner/mining-pool also seems to be the same since coinbase script contains F2Pool string again.

[1] https://blockchair.com/bitcoin/transaction/0450a1fc590465796e9a1099328fdc4726b86558b7010704ae04cf2cca9643ae

It's curious that it's happened more than once over the previous days.  If indeed this is a configuration error, which seems likely, someone is losing a fair amount of mining rewards I think.
That's true, specially when it is a pool where miners are trusting to not waste their hard work.

I wonder, would it be possible for a competing miner to capture these blocks and insert their own (valid) transactions in place for broadcast?
No because the block has to be changed and if you change even a single bit the final hash will be entirely different meaning it will no longer satisfy the target check so it has to be mined again.

What would be the goal or take away from a malicious node broadcasting these intentionally?
I don't think this is intentional. To give a better answer we have to know the client the said node is running which may be acquired if your logs stored the IP address of the node that sent the invalid block. In which case we may be able to connect to that node and see if it sends its useragent and that may give us more information like the client name which we could find on GitHub and report this bug.
2196  Bitcoin / Bitcoin Technical Support / Re: Electrum backup question on: April 06, 2023, 04:25:01 AM
Electrum uses two forms of encryption, a full wallet file encryption and partial encryption where only "secrets" are encrypted. Electrum should be able to load a wallet file if it is not fully encrypted and I don't think the "full encryption" option existed in 2016, I believe it was added mid 2017 in v. 2.8 but I could be wrong.
Make sure to create a backup of the files before loading them into Electrum.

Loading them into Electrum is also easy, you just use the File > Open option to navigate to the file location and open them.
Then Electrum should show you a list of addresses, history and then sync up and show you the final state.
2197  Bitcoin / Development & Technical Discussion / Re: Change request question regarding limitations for sale and linking wallets on: April 06, 2023, 04:09:31 AM
That requires centralization of the Bitcoin protocol to "censor" how people use their money. It is not going to happen.

That would ensure some limits for huge accounts that go short and give more security to the investments especially for smaller size investments I think.
Bitcoin is not an investment, it is a payment system and as a payment system it should not and will not care about these things.
2198  Bitcoin / Development & Technical Discussion / Re: ERROR: ConnectBlock(): too many sigops / InvalidChainFound: invalid block=... on: April 06, 2023, 03:49:36 AM
The full output with tx data is here: block.txt
This only contains transaction hashes no the full tx data that is needed to verify the block manually and see what the problem is. I checked a couple of transactions in the block, the first being coinbase is obviously not found anywhere else but also the second transaction is not found either.

P.S. I noticed something in the previous block's coinbase transaction, the signature script contains the word "F2Pool" in it. Could it be the F2Pool that messed up or is it someone else using that name?
If we had the full block of this new one we could speculate if this is from the same miner/pool.
2199  Local / Other languages/locations / Re: فارسی (Persian) on: April 05, 2023, 12:45:02 PM
ما توی این کشورمون این همه آدم و شرکت داریم که روی بیتکوین میلیاردی سرمایه گذاری کردن ولی حتی یک دونه نود بیت کوین هم توی ایران فعال نیست (حالا شاید یدونه باشه ولی بعید میدپونم دوتا بشه)
اتفاقا سه تا هست  Grin
https://bitnodes.io/nodes/?q=Iran,%20Islamic%20Republic%20of

تازه این الزاما همه "فول نودهای"‌ ایران نیست چون این سایت فقط قادر به نشون دادن نودهایی است که اتصال دریافت میکنند (نیاز به یک ساکت و سوکت باز و درحال گوش دادن داره که همه این کار رو نمیکنن).
به عبارت ساده‌تر تعداد نودهای ایران بیشتر از این حرفهاست.

همینطور که در این سایت میشه دید حدود ده درصد نودها در حال "گوش دادن" به اتصالهای دریافتی هستند.
https://luke.dashjr.org/programs/bitcoin/files/charts/historical.html
اگه همین درصد رو به عدد بالا اعمال کنیم میشه تخمین زد حدود 30 نود در ایران باشه که عدد بدی نیست.

این یعنی ملت فقط استفاده کننده هستن و فقط سرمایه وارد میکنن. ولی توی قسمت فنی و نگهداری از شبکه کمک نمیکنن. حس چندان خوبی نسبت به این قضیه ندارم. نظر شما چیه دوستان؟
اگه اینطوری باشه که 150 کشور از حدود 200 کشور دنیا هم فقط استفاده کننده هستند چون صدتاشون 0 نود و بقیه زیر 5 عدد نود دارن!
2200  Economy / Economics / Re: The world continues dumping US dollar (Gold, New World Order, World War III) on: April 04, 2023, 03:53:15 PM
I don't think that the USA will sit down and watch how China trades in yuan with Russia & Iran and how other countries trade with their own currencies, America will smell fear, fear of losing control!  And do you know what person does who had a great control and influence but is losing it? He goes insane and does absolutely everything to keep control.
This is exactly why US is waging war against the whole world. From the armed conflict they started with Russia to the cold war they are fighting with everyone else. Just google China's one-road-one-belt route on the map and then check the news about the countries that are involved in that route. Every single one of them had a short lived but major riots that started from a fake news!
US has indeed been very active over the past couple of years trying to stop dedollarisation ... and failing to do so.

It should be noted the US Dollar is still backed by a large amount of gold
The entire US gold reserves only covers a teeny tiny fraction of the total amount of dollar they've printed all these years!


On another news US dollar usage as world reserve currency is at a 25-year low at this point while many countries are dumping dollar and sell the bonds they were bagholding.
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