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2561  Economy / Economics / Re: Saving is Wasting? on: February 08, 2023, 12:11:52 PM
Aimlessness is wasting whether it is aimless saving or anything else. In other words saving itself is a good thing as long as you have a good plan. For example you can't and shouldn't save up to buy a house because it is too expensive and it takes too long and during that time inflation would render your money less-valuable. But if you are saving to invest in something smaller like bitcoin or a gold coin then that makes sense. Your investment should also be wise and well planned.
Then you can slowly grow your investment (from 0.001BTC to 0.1BTC then 1 ...) and then use that investment for a bigger investment like the house you wanted to buy at the start.
2562  Economy / Speculation / Re: Buy the DIP, and HODL! on: February 08, 2023, 12:03:42 PM
The principle of all trading whether short trading or long trading is same, you have to buy in dumping market and sell the invested coins in pumping market.  But if the market is dumping again after buying then you need to hold until the market starts pumping again. However, there are some cryptocurrencies that need to be held after investing in the market for a long time.
That is not true at all.
For starters trading is very different from investing long term. What you do also depends a lot on the market. For example a shitcoin that is dumping should be avoided like the plague. There is no reason for them to get pumped again.

You are also working in reverse in "pump participation strategy". When you see the shitcoin pumping you should buy in and sell it before it starts dumping. If you buy after the dump begins hoping for another pump, you are heading for disaster.
2563  Bitcoin / Development & Technical Discussion / Re: NFTs in the Bitcoin blockchain - Ordinal Theory on: February 08, 2023, 11:50:46 AM
That's merely signalling for Ordinals/Inscribing/NFTs in the Bitcoin Blockchain because "they" probably think that long term, the success of Ordinals might bring higher demand to use Bitcoin, then therefore higher profit for mining, which will definitely increase the total hashing power, and then also increase the network's security.
Cryptokitties and similar garbage didn't bring any kind of real demand for the platforms they were on. I don't see how Ordinals is going to be any different! Not to mention that we already had better ways of creating tokens in sidechains and so far a handful of people even talked about them and the only reason why Ordinals is being discussed is because it is spamming the chain and is a threat to the real demand bitcoin has.
2564  Bitcoin / Bitcoin Discussion / Re: Gavin Andresen calls it a "mistake" to trust CSW on: February 08, 2023, 06:11:53 AM
Andresen was clearly playing games, or a total idiot, and thus disqualifies himself from the list of "people to listen to"
That's a fact that you and I know but if we look through the eyes of newcomers Andresen is someone who could be made to look like an "expert" who knows what he is talking about. Lest we forget that we live in a society that average people tend to easily believe random stuff they read on the internet.
Why is Gavin Andresen a idiot? I have been around more long enough not to be known as a newcomer but I do not know why the btc community is so hostile towards him? From what I have read he has always been level headed and done what he thought was best for the btc community and it was a big loss when he stopped developing for btc.
A couple of years ago someone called Craig Wright starts claiming to be the real creator of bitcoin, Satoshi Nakamoto. Then this person starts contacting different bitcoin experts to convince them to support his claims. One of them is Gavin Adresen. Only Gavin is convinced after the meeting with the scammer and without seeing any reliable proof. Gavin then starts supporting his claim (read the article in OP).

Someone who does this is either an idiot or malicious. I tend to think the later.
2565  Bitcoin / Bitcoin Discussion / Re: Unwarranted ECB claims about BTCs "last stand" on: February 08, 2023, 06:04:55 AM
It is always funny to see heads of the banking cartels around the world criticize bitcoin while they are knee deep in corruption and all kinds of illegal activities. Their statements and so called "predictions" are also always their hopes. For example here, they are hoping that bitcoin falls down and they will do everything in their power to make that happen. Hence this article.

In any case the article shared here is the prime example of a propaganda. They use some facts to convince you of the bullshit conclusion they want to make. For example they point out the fall from $69k but never tell you that price went from $3k to the current $20k if you zoom out!

Of course in case of ECB they have no answer for how Euro is dumping and how it will dump a lot more in the future when all the money they've been printing starts showing up in inflation rates. So they have to bash bitcoin hoping nobody chooses BTC trying to escape EUR dump.
2566  Economy / Economics / Re: Russian Gas ban - A problem for Europe or suicide for Russia? on: February 07, 2023, 04:43:13 PM
but none of the politicians in Pakistan has the balls to stand up against instructions from the US.
It's not about that. Their politicians are faced with all bad options, some are worse than others so they try to choose the option with the least negative consequences. Unfortunately that option is to not-complete this pipeline (which leads to energy shortage, high prices, inflation and economical hardship).
2567  Economy / Speculation / Re: BTC Sentiment Poll for February on: February 07, 2023, 03:44:32 PM
Interesting result of the poll shows how bullish people are. This I believe shows the significance of the $20k resistance that was broken because for all we've seen the fantastic momentum that broke that resistance more than 20 days ago died and despite a couple of attempts $25k (which should have been broken already) remains a strong resistance for no reason!
2568  Bitcoin / Bitcoin Discussion / Re: Gavin Andresen calls it a "mistake" to trust CSW on: February 07, 2023, 03:36:08 PM
Andresen was clearly playing games, or a total idiot, and thus disqualifies himself from the list of "people to listen to"
That's a fact that you and I know but if we look through the eyes of newcomers Andresen is someone who could be made to look like an "expert" who knows what he is talking about. Lest we forget that we live in a society that average people tend to easily believe random stuff they read on the internet.
2569  Bitcoin / Bitcoin Discussion / Re: Gavin Andresen calls it a "mistake" to trust CSW on: February 07, 2023, 05:37:18 AM
It means nothing if you ask me since it is already too late. It's not like he needed that much time to figure it out! It takes a second to know if someone is lying when they can't provide any kind of proof not this many years. I don't buy the NDA thing either since he could have not-say he is Satoshi in first place!

Something definitely shady is going on behind the scene between Andresen and Wright and in my opinion the only reason why Gavin went back on his words is the fallout between them, possibly Craig scammed him or refused to pay the money he promised Gavin after his support or something similar.

I don’t believe in rewriting history
My ass. You can't rewrite history, specially on the internet that is "written in ink". Nothing is going to wash the following shame from Gavin's forehead:
I believe Craig Steven Wright is the person who invented Bitcoin.

The only important question we should ask is "what was the benefit of supporting a clear scammer in 2016 and what is the benefit in going back on his words today?
Was it money? Position? Government favor? Threat of prosecution by government? Something else?
2570  Economy / Exchanges / Re: Binance tax has been launched? on: February 07, 2023, 05:30:01 AM
Next thing Binance is going to reveal is the govtool where the governments have been logging into all these years to receive all the information of all the users so that they can detect their activities, find their addresses balances, etc. and bust anybody who they don't like Grin
2571  Bitcoin / Bitcoin Technical Support / Re: Embedding metadata on-chain on: February 07, 2023, 05:10:15 AM
The best way and the most correct way of inserting an arbitrary data into bitcoin blockchain is using an OP_RETURN output. The transaction size depends mainly on the number of inputs you are going to have and their type. For example if you are spending a simple single P2WPKH output and creating a new P2WPKH output with a single OP_RETURN output you would need to pay less than 200 satoshi fee which is about $0.04 with today's price.

The benefit of this is that it doesn't put a burden on full nodes for having to keep the output in their UTXO database but if you use Taproot, they will have to keep it in there and load it in memory when verifying blocks.
2572  Bitcoin / Bitcoin Technical Support / Re: SVP wallet fetching most PoW chain on: February 07, 2023, 05:04:45 AM
How does lite clients (SVP) can know the most PoW chain in 2 conflicting fork with just knowing the headers of all block ?
There are two ways of looking at this. What SPV (short for Simplified Payment Verification) clients do and what they can do.
There are different implementations of SPV protocol, some are very centralized and what we can all "server dependent". These usually work on phones. In this type they heavily depends on what the single centralized server tells them. So they don't really connect to the bitcoin network directly to know much about it and any possible forks.
But there are other implementations that connect to multiple "servers" (that are full nodes with the chain indexed so that it can be searched) like Electrum which performs more verifications on headers they receive hence are capable detecting chain-splits, etc.

Technically when a full node wants to sync with the network they connect to other random full nodes (multiple peers) and after a handshake they send a "locator" in a getheaders message to download their block headers. They receive a reply containing the headers the "locator" was missing ie. any new header that were mined recently.
This is what a SPV client can do too.

Then the full node performs a series of verification on these headers (version, time, PoW using target, verify target itself using difficulty adjustment, etc.) that way they make sure the headers are actually valid (put simply they are mined correctly).
This is what a SPV client can do too.

Finally they check each batch of headers with what they've stored locally so that they can know what headers (and blocks) they are missing, what they already have and if there is any kind of chain-split, stale block, orphan, etc.
This is what a SPV client can do too.

The only thing that the SPV client doesn't do is the full node's next step which is to download the block itself to verify the transactions and update the chainstate (ie. UTXO database). Which has nothing to do with chain-splits, etc.
2573  Bitcoin / Development & Technical Discussion / Re: NFTs in the Bitcoin blockchain - Ordinal Theory on: February 07, 2023, 04:18:39 AM
The ordinals experiment has clearly shown that you can't stop non-transfer uses within the existing consensus rules.
We have been stopping them successfully before Taproot by making them non-standard which discourages such spam. Otherwise you could create a scriptpub with an arbitrary input that is a little smaller than 1 MB.

as for other for instances. multisig/p2sh. if needing a 15-of-15 then have 15x80 limit
instead of the lame softrule of "go ahead take 3.98mb, we dont care"
A Schnorr signature is 64 bytes and with the public key it becomes 96 bytes. 80 byte limit is not enough for any type of Taproot witness. You also can't use OP_CHECKMULTISIG in Taproot scripts, OP_CHEKSIGADD is used so the 15-of-15 size is not the same as before needing all 15 keys and signatures.

then stop having the SOFT opcode that allows new formats (non standard) to pass through as default "isvalid"
you know when consensus was softened in mid 2017

go back to hard consensus that doesnt allow soft(non standard) things through
You are wrong. A lot of forward compatible code existed in bitcoin from day one. That is how BIP16 was enabled too. It allows us to remain backward compatible in each soft fork.
Another example is the the simplest OP codes called OP_NOPs that were used in 2 soft-forks to enable OP_CHECKLOCKTIMEVERIFY (BIP65) and OP_CHECKSEQUENCEVERIFY (BIP112).
2574  Economy / Economics / Re: Russian Gas ban - A problem for Europe or suicide for Russia? on: February 06, 2023, 12:07:12 PM
The news itself is manipulated quote of a quote from an unknown source in Pakistani local media

That's why I am in shock that during such economic turmoil Iran is doing this to Pakistan. I found this news in Pakistan top news paper also. The news paper saying this news is confirmed by senor official of Pakistan Ministry of Energy. IMO Iran is doing so just to push Pakistan to start working on the project. The gas project was signed in 2009 but still pipeline work on Pakistan side is pending.

That's the correct link and that was the original quote I mentioned in my previous post and it says "an official" without saying who they were or what their position were in the ministry! This is the problem with this type of news in the mainstream media. They never mention their source. It is always a "reliable source" an "official", etc.

The fact is that the contract has been in place for years and Iran has been pushing Pakistan to finish the project so that they can help their own economy by importing cheap Iranian gas for just as long. The thing about paying a fine is also not a new thing and as I said to this day Iran hasn't enforced it even though legally speaking Pakistan should have paid the fine 7 years ago.

2575  Bitcoin / Bitcoin Discussion / Re: opinion: it would be better off if taproot was rolled back on: February 06, 2023, 11:45:16 AM
If any entity is part of Bitcoin community and join with financial incentives, they will no have any single reason to support such idea to roll back the Bitcoin blockchain, Taproot or anything else.
Rolling back a consensus rule change doesn't necessarily need rolling back blocks specially when months have gone by and it requires thousands of blocks to be rolled back. Not that it would happen but something like that would be like disabling the soft fork by removing the extra rules. So in case of Taproot all the Taproot outputs become anyone-can-spend.
2576  Economy / Economics / Re: The Dedollarisation is on the road on: February 05, 2023, 04:31:02 PM
and the reason for that is not because they do not want the dollar, but because of the US sanctions.
I'm surprised to keep seeing this statement on the bitcoin forum from old bitcoin users.
Do you guys think Satoshi created Bitcoin because he was under sanctions too? Or do you think he saw the flaws in the existing payment systems and fiat currencies and decided to create an alternative that addresses those flaws?
What does Satoshi explain in the first part of the whitepaper? Is it not the flaws in the existing systems and how Bitcoin fixes them?

That's the same when it come to dedollarisation or dumping US dollar.

There is a big flaw in using dollar which is why no country in the world including US want to use dollar, so they all seek a replacement. The flaw is pretty simple to understand too, US keeps printing dollar without any kind of limit, at any time they want. Then they use all the dollars that were printed out of thin air to other countries to purchase actual goods, energy, services, etc.
(Imagine that next time you want to go to the grocery store instead of using your hard earned cash you use your printer to print some money and then use that to buy groceries!)
What this cases is inflation in any country that uses dollar (including US) because they use dollar and this is exactly why everyone would love to dump it.

In short this is how United States exports its inflation.

The only reasons why they haven't done it completely yet are the fear of US (see Iraq, Libya, Syria, and a dozen other countries that were destroyed when they "thought" about dumping dollar) and also because they couldn't come to agreement about the replacement.... until now...
2577  Economy / Economics / Re: Russian Gas ban - A problem for Europe or suicide for Russia? on: February 05, 2023, 04:17:26 PM
As Iran has given deadline to Pakistan to complete his portion of gas pipeline by March 2024 or pay fine of 18 Billion usd.
FWIW the source of the news you shared is not a reliable source at all, additionally those behind it are considered as members of a terrorist organization.

The news itself is manipulated quote of a quote from an unknown source in Pakistani local media so it also is not reliable. Besides the contract they are talking about mandated Pakistan to pay a fine ever since January 2015 and Iran hasn't been enforcing that to this day (that's 7 years) and there is no reason to suddenly start demanding a penalty out of nowhere now that the eastern neighbor is already in some economical hardship.
2578  Economy / Economics / Re: Iran and Russia want to issue new stablecoin backed by gold on: February 05, 2023, 03:28:20 PM
It's still unsure how the stablecoin will work for them but it must be why central banks are buying up gold since.
I sincerely hope they don't end up pushing this domestically because it has a high chance of failing and it is pointless anyways. But on the other hand if it is used internationally and if it is backed by gold and/or energy that would be fantastic. In that case it would have the potential to easily replace USD in international trades since that is exactly what dollar through SWIFT etc is, a CBDC that is not backed by anything except that this new one would be backed by a lot.

However, the government will not accept existing blockchain systems, such as the Ethereum blockchain, BNB and others as a pathway for them to develop crypto stable coins. Because they are worried that one day it will be controlled by certain parties. Then the alternative is for them to develop their own blockchain to develop crypto.
What's being created here seems to be stand alone but I wouldn't be so sure about governments always being so wise as to not use existing shitcoin chains. I've even heard about possibility of using Tether (aka one of the most centralized altcoins) even though it doesn't seem to have actually happened but it shows how little some governments know.
2579  Bitcoin / Bitcoin Discussion / Re: Why are you interested in bitcoin? on: February 05, 2023, 03:13:57 PM
I'm not that interested in "investing" in bitcoin. From the day I found out about bitcoin which was back in 2014, I have been interested in it as a decentralized currency that I can use for a lot of things. Consequently I'm more interested in using bitcoin and earning it as you would any other currency.
The reason for that is the uniqueness of bitcoin as a currency. And of course the increased purchase power, which you could call "profit" is the cherry on top.
2580  Bitcoin / Bitcoin Technical Support / Re: btc privatekey with lost the last 6 characters on: February 05, 2023, 02:10:50 PM
How many of these "private keys" do you have? It seems like every now and then you come here with another key missing arbitrary number of characters trying to "find" or sometimes try to sell.
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