It is extremely risky to bag hold altcoins in general, it is even riskier if the altcoin is centralized, flawed and most importantly has an unlimited supply such as ethereum. In 10 years, it may not even be around let alone be worth higher than this. Not to mention that the past 5 years that ETH has been dumping consistently (from 0.15 to 0.06) has proven that it has no long term potential.

As for bitcoin, the way I wouldn't rely completely on bitcoin for retirement. In 10 years with the way inflation is going and if the adoption is slow and price doesn't go that high you may not have enough bitcoin to retire comfortably. In most countries the cost of living is already huge and is increasing fast.
It is best to diversify into other assets and I mean real assets not altcoins.

Satoshi has already disagreed with this type of abuse in multiple places. From the whitepaper title where it calls bitcoin a payment system not a cloud storage to his clear stance against storing junk data (like DNS) on bitcoin blockchain.

But unfortunately because bitcoin core developers screwed up in implementation of Taproot soft fork, we ended up with an attack vector that is being exploited with the code-name Ordinals, and so far there isn't any serious work being done to mitigate that.

History proves this to be fallacy. For example ICOs are widely known to be scams, yet they are not dead yet and people are still being scammed under the same name or alternative names (ICO, IDO, IBO, IEO, ITO, STO, DeFi, NFT).

That is called censorship, besides it has nothing to do with Ordinals Attack. You should try to first learn what this attack is and how it works.

Bottom line is no matter how a small group of people swing this, Ordinals is an exploit since it is using it in a way that is should not be used, ergo it is categorized as an attack on bitcoin.

For the sake of European economy you should hope not.
In a world where the cost of energy is directly and significantly affecting the economy and the competition, if India and China are indeed receiving "super cheap" energy that gives both these countries a massive edge to take over more of the global market out of the hands of Europeans which would consequently deindustrialize Europe even more and put the whole region into a deeper recession in the coming years.

It's the new year's effect
Today is the Persian new year, the first day of spring and as we celebrate the Norouz (literal translation: New Day) as the nature wakes up and trees are green once again the bitcoin market is showing green too.

Apart from that, the failure of the banking system in the West is playing the main role in the recent price surge and this could create a strong momentum that enters bitcoin in a brand new bull market that could last until the end of the year. The FED printing machine is also guaranteeing bitcoin reaching the moon.

There is one possibility that could push US into a massive hyperinflation and the massive dump of US dollar followed by bitcoin price shooting up to the moon (over $1 million). That is if after US regime printed the trillions of dollars to bail out the banks that are collapsing one by one and tried to revive its economy with a high inflation, China strikes hard by dumping the massive amount of bonds they hold effectively burning the US economy to the ground in one swift blow.

Bitcoin isn't backed by anything though, at least not in the traditional meaning of the word.

In any case the banking system in US is failing, not just one bank. Specially as the FED keeps increasing the interest rate and that increases the defaults rate and enters the US economy into recession while the inflation is still high. To make matters worse they are printing trillions now which would not only increase US national debt but also ruins the already ruined economy even more.
The first to go down is going to be banks.

#bitcoinnotaffected

CZ needs to worry more about being shut down by FBI like its predecessors instead of trying to buy a shitcoin like ether with part of his money.

To put it differently, the old World Order where the West with US on top was ruling over the world has been over for some time now but those powers are already addicted to the tremendous amount of power they have been abusing so they are not going to give it up that easily. Hence the proxy wars, the sanctions, the cold wars, etc. But with all that they still couldn't hang on to their power and every day they lose a little more. At some point they have to choose between becoming obsolete or going to war. The warmongers are not known for going out peacefully!

You mean the "avalanche effect"? That still doesn't change the fact that the probability of finding a collision is only high when you compute an unimaginably high number of hashes.
Our input is also not infinite, it is finite if we are talking about public key hashes (points on the curve which is a subgroup and finite). Although since the number is too big, it could be seen as infinite and impossible

I honestly didn't quite get what you said in the first part so I decided not to comment on that and let others do.

There is no security risk whatsoever when revealing the public key. ECDLP remains impossible to solve with the existing hardware and algorithms and it is not about to change. In simple terms it is not possible to reverse a public key to get the private key and put you at a risk. And if some day that becomes possible, Bitcoin as a whole is going to fall apart not just your address being at risk.

This is of course assuming your wallet doesn't have any bugs (eg. your key was created randomly, the nonce when signing tx is chosen randomly, etc.).

The only issue with reusing addresses is a privacy related one.

Let's bring the discussion back to dedollarisation instead of War Propaganda.

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Let me share a theory I heard recently that involves possible Finland joining NATO and collapse of (Soviet)United (Union)States.

We know that one of the major factors contributing to the collapse of the Soviet Union was economical. All those little countries with loads of economical problems were under the Soviet umbrella and Soviets had to provide them with enough incentive to keep the "loyal". To put simply as the economical problems grew, eventually the whole thing collapsed.

A very similar situation is happening again. It is not example a "union" like Soviet Union but more like a bloc were US is absorbing all these little countries into it. All of them (the entire Europe) has been facing a crisis and US not only been incapable of helping but they've made everything a lot worse by printing more dollars and exporting that inflation to Europe and by selling energy at extremely high prices and at small amounts that helped deindustrialization of Europe. Now more little countries like Finland with all their economical problems are being added to this "bloc" while US economy is slowly collapsing itself.

On the other side we have an Eastern Bloc that consists of the strongest economy (China), members from the West (like South America including Brazil), almost all the energy in the world (Iran has been in the bloc from day 1, Arabs are joining in like Saudi regime which is literary the only reason why Petrodollar is alive, tiny Arab nations like Qatar/UAE/..., Venezuela and more),... and the whole bloc's economy has been growing over the past year while separating itself from the failing Western Economy and also from Dollar.

The theory is that some experts suggest that what we are witnessing today is the start of the collapse of United States in a very similar way Soviet Union collapsed.
This also means more tensions, more conflicts and more nuclear threat.... and threat of WWIII which could also be averted when US collapses like Soviet Union did and nuclear war was averted in 1990's.

I would definitely make such a bet (whether the twit dude meant it or not) BUT only in bitcoin not in dollar. Meaning if I had a million dollar worth of bitcoin (that is 36.21BTC with current price) I would put it up only against another 36.21BTC and I'd say price is not going up to $1 million in 90 days.

My reason about the rise is simple, it is impossible to see a 3750% rise in 90 days. The market is too big to see that kind of rise in such a short time. If it were until the end of the year (specifically next winter where the energy crisis is 10 times worse than previous one in the West) then I'd say the chances are a lot higher.

My reason for refusing dollar is that we know dollar is being dumped as more and more countries abandon it and we know that US economy is collapsing slowly as it is evident by the banks that keep going bankrupt. Dollar in my opinion is the most risky currency in the foreseeable future, which is from now till at least next 5 years. $1 million today may not be worth that much in 90 days. Although I also have to say that this doesn't mean I think US will enter "hyper" inflation (as this bet seems to be about), that bet is also silly. Higher inflation for sure but not hyperinflation.

Not to mention that bitcoin for bitcoin is easily done through the 100% secure bitcoin smart contracts inside the immutable bitcoin blockchain without needing to go through a shitcoin specially not a centralized stable shitcoin like USDC.

You can't create tokens using bitcoin scripts; period. Although I'm curious what you think is the way to create one using the protocol.

One of the problems with the arguments surrounding this topic is that most people haven't yet realized that there is no tokens here. Bitcoin script language and smart contracts don't even have that capability to create a token (NFT or otherwise). And yet people keep calling the Ordinals Attack an NFT!

I disagree.
There will definitely be a lot of collapses in the banking systems specially in the West considering how the Western economy is slowly falling apart, but it is not going to be the end of corrupt banking system. The world simply has no replacement for it yet and bitcoin is not the replacement, it is just an additional option that will allow its users to decrease their exposure to the collapsing economy.

Bitcoin will definitely start rising from now on and we can see $1 million sooner than everyone was expecting but I still don't think it can happen in just 3 months.

Keep in mind that we have dedollarisation going on in the world which will dump the USD value hence helping the bitcoin price shoot up to the moon.

I disagree. The downtrend in bitcoin market was partly because of market manipulation and weak hands dumping and partly because of the recession (not inflation and CPI and definitely not because of stock market).

Meh. The interest rate's effect is no longer there. In other words if they increase it more than this, it won't change a thing except worsening recession in United States. The effects on bitcoin should be significantly decreased too.

This. But bitcoin is the best option not crypto.

Design and manufacturing of an application-specific integrated circuit is very complicated, time consuming and expensive. So there needs to be a great incentive to do so. That is why they manufacture ASICs for mining some cryptocurrencies with different algorithms, because there is an incentive there and don't bother for some other altcoins since there is no incentive.

It's the same for "vanity addresses". There is no incentive to create such a hardware since that won't sell. Nobody is going to pay thousands of dollars to buy a hardware that could create a pointless address.

Except that "long enough" in this context means thousands of years since there are a little less than 2²⁵⁶ public keys and you need to check about 2¹⁶⁰+1 of them to find a collision. Something that is not possible with existing hardware or in our lifetime.

That would be like saying 2 people can choose the same atom in the universe....

The previous times where the attempts were made to break $25k we didn't have the positive news we have today about the banks that collapsed. This time it contributed a lot to the price rise, some people needed that little push to pull their money out of the banks and jump on the bitcoin rocket to the moon

That's the same mistake some people make about Europe. Just because there was an initial propaganda about an unrealistically terrible result (Russia crumbling like Europe freezing over) that didn't happen, it doesn't mean there wasn't any negative effects at all.

The reality is that both Russia and NATO are severely affected by this war that has been going on between them for the past year. Both sides have been able to replace part of what they've lost (Europe replacing a small part of its energy supply, Russia replacing part of its energy customers) but it hasn't been enough to negate all the effects. Examples of these negative effects are in Europe with massive deindustrialization and in Russia with budget deficit.

Playing with interest rate is like a short term but quick remedy to the inflation rate, it is not an actual solution though. This is why we are seeing the attempts to lower the inflation by increasing interest rate by the FED is starting to fail and inflation stays up.
To solve inflation the government simply has to stop printing more money! But they can't do that because they have already run out of money to spend, so they have to print more out of thin air. Hence the huge national debt US has which is $31.6 trillion!