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3101  Bitcoin / Bitcoin Discussion / Re: what proof must one have to identify himself as Nakamoto Satoshi? on: December 17, 2021, 10:57:40 AM
And as time goes on, the proof from the signature becomes less significant. There'll definitely be a time in the future when someone finds the private key of the genesis' public key[1]. This won't make them Satoshi. Proof of ownership isn't proof of identity either way. It'll be really vague if a valid signed message appeared out of nowhere and I wouldn't hold my breath that they're Satoshi.



[1] 04678afdb0fe5548271967f1a67130b7105cd6a828e03909a67962e0ea1f61deb649f6bc3f4cef3 8c4f35504e51ec112de5c384df7ba0b8d578a4c702b6bf11d5f


That’s a very good point! Because what if Hal Finney was the real Satoshi, and what if he gave all his private keys to his son/daughter/wife as an inheritance?

I believe it must be time to accept that Satoshi should be “dead” to the community, although should also be honored for opening the Pandora’s Box. Cool
3102  Bitcoin / Bitcoin Discussion / Re: Xi, Putin wants Bitcoin without wanting Bitcoin on: December 17, 2021, 10:43:27 AM

Wanting Bitcoin without Bitcoin, an interesting thought although of course it makes no sense. Bitcoin is a decentralized cryptocurrency, and if Russia and China want an independent financial infrastructure, then they will design a centralized financial product that will be 100% under their control, and it can never be anything like Bitcoin.

So isn't China a leader in the CBDC and the digital yuan has already become commonplace in that country? Let the Russians make their own CBDC and then let them trade with each other if they want to - no one is forcing them to use the US dollar or the euro.


It won’t make any sense of you take it too literally. The point is they want censorship-resistance, and a build network-infrastructure that is not vulnerable to attacks from third parties. Are they describing something like Bitcoin? Yes they are. Plus if they truly try to build their “network”, they will fail. Bitcoin is already here, and ready.
3103  Bitcoin / Bitcoin Discussion / Re: Lightning Network Observer on: December 16, 2021, 11:09:49 AM

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Today, Chainalysis announced product support for the Lightning Network, a layer 2 protocol built on the Bitcoin blockchain that allows faster, cheaper transactions. With Lightning, small, recurring transactions that wouldn’t be economical to carry out on the blockchain due to transaction fees become feasible, enabling new commercial use cases for Bitcoin.
https://blog.chainalysis.com/reports/lightning-network-support/


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Soon, Chainalysis will support Lightning Network transaction monitoring in KYT! Staying compliant with regulations will be vital as the second layer protocol is adopted and we’re excited to be the first in the industry to offer this support.


https://twitter.com/chainalysis/status/1469317238893289475

It’s not “support” for the Lightning Network. It’s actually surveillance, pretending to help Lightning “stay compliant with regulations”. Although, Lightning users can thank Chainalysis for the liquidity. Cool

Can Chainalysis trace every transaction in Lightning? How can users add more privacy?
3104  Bitcoin / Bitcoin Discussion / Re: Xi, Putin wants Bitcoin without wanting Bitcoin on: December 16, 2021, 10:55:51 AM
At first, I wasn't sure if the news were legit, but I found articles on Russian news websites about it, so it seems like the talk actually happened. They want an infrastructure that won't be under control of third countries, but there's a big potential difference from Bitcoin: there's nothing there about the financial infrastructure being independent altogether. Bitcoin's not under control of the US, but it's not under control of China or Russia either. I believe this is not desirable for Putin and Xi, as they'd prefer a centralized currency that would be under their mutual control. That being said, it might be very hard to achieve, so they might settle on something like Bitcoin as good enough.


They want their network to “be designed to be invulnerable to pressure from third parties”. Obviously they prefer censorship-resistance, and a financial infrastructure separate from SWIFT, which Bitcoin truly is waiting to serve them. But, they would never admit it, especially China.
3105  Bitcoin / Bitcoin Discussion / Re: what proof must one have to identify himself as Nakamoto Satoshi? on: December 16, 2021, 08:25:12 AM
Move funds from earliest known blocks to another, newly-generated address or any other address. That's the simplest and easiest way. Signed message also works, but CSW and co found some loopholes which makes their signed message appear legitimate.

Then again, the real satoshi would probably not try to make his/her identity known, and would just stick hiding and keeping a low profile.


He did extra steps to hide his real identity to remain anonymous. Tin-foil hats on, but I believe he changed his coding style to write Bitcoin, used Windows instead of Unix, or a Unix-like operating system, and he also probably changed his posting style in the forum.
3106  Bitcoin / Bitcoin Discussion / Xi, Putin wants Bitcoin without wanting Bitcoin on: December 16, 2021, 08:09:46 AM
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BREAKING: Putin and Xi agreed "to set up an independent financial infrastructure to service trade between Russia and China" which will be designed to be "invulnerable" to "pressure from third parties."


https://twitter.com/chollimaorg/status/1471122707337347072



BREAKING: Satoshi Nakamoto has already invented what Putin, and Xi’s independent infrastructure to service trade between Russia, and China. Another way of saying, “we don’t want to be censored by sanctions”.

I believe it was also China itself that has proven that Bitcoin is invulnerable to pressure from third parties. Cool
3107  Economy / Trading Discussion / Re: Why exactly is it that people don't like identifying yourselves (KYC)? on: December 16, 2021, 06:21:32 AM
In my country, it is necessary to undergo kyc before you can start trading and even in remittance center where you will cash out your money                    from crypto also implement kyc. I think this is the way of the government to be able to trace your accounts even in crypto. But I'm not afraid of kyc because it is the only way I can trade and earn money. Our privacy may be violated but we can do nothing but follow their rules and regulations.


Then if you have your savings that are HODLed in Bitcoin, I believe it would be better for you to separate that from the Bitcoin that you remit for fiat. But if you convert everything in fiat, maybe it’s OK not to do extra steps for privacy. You have nothing in the blockchain.
3108  Bitcoin / Bitcoin Discussion / Re: Dollar Cost Averaging Question on: December 15, 2021, 10:39:37 AM
It's simply an argument that plebs like us should be more efficient with our capital. Capital is limited, why use it to buy blindly without assessing your position, and the current situation of the market? It's also better for our sanity.
3109  Economy / Speculation / Re: I know you have all been waiting in anticipation of on update.... on: December 15, 2021, 08:51:33 AM
BTC *will* retest ~1150 -

Bullshit.

I don't know how people dare to talk about predictions so vehemently, like lecturing us, as those of us who have been investing for many years know that predictions based on charts and patterns fail constantly.

I was going to ask you how much you want to bet, but of course, the bet has to have a time limit, and then you pull this out of your sleeve:

timeframe is totally unpredictable because it depends on what unfolds in Florida, COPA, Wright vs Bitcoin devs, what happens with Tether and what the SEC decides about whether a coin that has a raise on promise of profit and is pre-mined constitutes a security. ETH clearly, air dropped Bitcoin... maybe.


You don't tell us anything we don't already know.


It’s very convenient of him to say “timeframe is totally unpredictable” because he deeply, and truly knows that what he posted is mere bullshit. They will also tell you that they’re playing “4D Chess” to protect them image from their own stupidity. Flat-Earthers.
3110  Bitcoin / Bitcoin Discussion / Re: Dollar Cost Averaging Question on: December 15, 2021, 08:32:05 AM

But because I believe you don’t have enough capital, always wait for a DIP, try to use your capital as efficient as possible.



You are missing the point of DCA. The entire point of DCA is to not try to time to market; pick an amount and a time frame, and invest regardless of what the price is doing at the time. As soon as you try to time the market then you are no longer DCAing. If you want to do that, that's fine, but if you want to do DCA then you should see if you can set up automatic recurring buys so you don't even have to look at the market at the time of your purchases.


I understand. I was merely telling him that DCA might not be for everyone. Capital is limited, plebs can’t simply buy anytime, and not care, especially with an asset as volatile as Bitcoin.

An illustration of an inefficient usage of capital by Michael Saylor during 2021, https://twitter.com/0xsisyphus/status/1468942871701204992


3111  Economy / Trading Discussion / Re: Why exactly is it that people don't like identifying yourselves (KYC)? on: December 15, 2021, 06:22:47 AM
OP, I hate KYC simply because I’m lazy. I’m lazy to take pictures of my ID, other requirements, and uploading them. I hate taking a selfie of my ugly face with my ID and a piece of paper showing the date, and I hate that exchanges don’t secure them very well.


Hahaha I had actually laughed on that ugly face part which i do really have those same feelings whenever i do asked out with that selfie with ID plus having that paper telling the current date.


Hahaha yeah. Anyone would find it laughable if you could access a database of faces of people holding their I.D. and a piece of paper showing the date. They’re like wanted posters.

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As for requirements then it would really be depending or vary whether you could accept or take the risk on where those information would be stored. Some peoples mindset that what should they would be afraid about? As long it could bring out convenience then it doesnt matter at all.


KYC for me would be OK, if security of the data is perfect, and anon-set of Bitcoin could be set and reset, which is possible.
3112  Economy / Speculation / Re: Analysis on: December 15, 2021, 06:02:11 AM
Masterluc calling for 30k (if translated correctly) on telegram group. Here is his post

Hy чтo, тaки пиздa pyлю, или жиpнaя мeдвeжья лoвyшкa пepeд пpыжкoм? BTC вeдь 30к мoжeт oпять зaтecтить!


Is that from his Russian Telegram channel?

Direct translation through Google Translate, “ Hy what, is it a cunt, or a fat honey trap in front of a jumper? BTC as high as 30k can be registered again!”

Hahaha. Cunt?

Plus “BTC as high as 30k”? It should probably translated that “the height of the crash” could go down as low as $30,000?

Yep, on Telegram. I've just checked it. More correct translation is "So what, is this the [non translatable rare idiomatic expression], or is it a fat bear trap before the jump? After all, BTC could well test 30k again!"

Basically, I wouldn't say he told something definite or really informative with this phrase Smiley

But in general he sounds quite nervous about current BTC movements and pessimistic re world economy, which he believes will draw down BTC too, marking end of the 5th EW wave (though he didn't tell exactly when he expects that).


If you ask me, I believe it could be the bottom of the current DIP before another surge. But how long will Bitcoin trade under $50,000? Two more weeks? Four? More? No one has the answer in my opinion. Plus about the world economy, the money printer will go BRRRRR, Debt Ceilings will be raised.
3113  Economy / Speculation / Re: Analysis on: December 14, 2021, 10:55:15 AM
Masterluc calling for 30k (if translated correctly) on telegram group. Here is his post

Hy чтo, тaки пиздa pyлю, или жиpнaя мeдвeжья лoвyшкa пepeд пpыжкoм? BTC вeдь 30к мoжeт oпять зaтecтить!


Is that from his Russian Telegram channel?

Direct translation through Google Translate, “ Hy what, is it a cunt, or a fat honey trap in front of a jumper? BTC as high as 30k can be registered again!”

Hahaha. Cunt?

Plus “BTC as high as 30k”? It should probably translated that “the height of the crash” could go down as low as $30,000?
3114  Economy / Trading Discussion / Re: Why exactly is it that people don't like identifying yourselves (KYC)? on: December 14, 2021, 07:59:01 AM
OP, I hate KYC simply because I’m lazy. I’m lazy to take pictures of my ID, other requirements, and uploading them. I hate taking a selfie of my ugly face with my ID and a piece of paper showing the date, and I hate that exchanges don’t secure them very well.
3115  Bitcoin / Bitcoin Discussion / Re: Bitcoin the fundamental tool for economic liberation/independence on: December 14, 2021, 07:40:28 AM
I believe Bitcoin is for all, whether an individual, a financial institution, or a government/state entity. It’s a permissionless, open protocol for anyone who wants to use it for its main value proposition = Censorship-Resistance. OR as a back up/hedge/fall back in case of the people in the government/Central Banks loses control of the financial system.

The government is not an independent entity, it is just an organization in society that consists of the same individuals like you and me. Should these individuals have the right to access and interact with a decentralized permissionless network? Not only should they have such a right, but also no one can prevent them from exercising this right should we think otherwise. The problem with the government as an organization, however, is that it obtains its income not through voluntary mutually agreed and mutually-beneficial peer-to-peer exchanges like other individuals do but through coercion and aggression against people who happen to be born on the territory the government controls.


Can you clarify? It’s confusing.

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The government doesn't need to ask permission to enter the network, and it also doesn't need permission to take away your bitcoin.


How can it take away MY Bitcoin “without permission”?

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The government will never agree to be a part of a decentralized system because it is a profoundly centralized institution that always wants to control everything and everyone.


That’s subjective. The government can HODL Bitcoin as a reserve asset, like Gold.

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The government that once had the power to manage the whole economy will not accept the decentralized monetary policy and fixed supply that can control no one. The government will never accept the idea of the free market in money because it cannot obtain money honestly without aggression and coercion. Bitcoin is not for the government.


Is that all according to you? Because any government, or any entity can decide Bitcoin anytime.
3116  Bitcoin / Bitcoin Discussion / Re: Bitcoin the fundamental tool for economic liberation/independence on: December 14, 2021, 05:40:03 AM
I disagree. Bitcoin is all that for individuals not for the government. The government (and the whole country) can reach independence without needing to use bitcoin. For example El Salvador could drop USD and create their own currency to be more independent. But that's not enough, a lot more work has to be done so that history is not repeated (they apparently had their own currency and their economy was failing that they had to adopt USD).
By adopting bitcoin the country will gain some good amount of profit in the coming years but that still wouldn't be enough to reach the goals OP outlined. I don't follow El Salvador news but from here and there I see their president is doing some good work. The infrastructure, bitcoin city, attracting foreign investment, ...

One thing is certain though, adopting bitcoin as legal tender is so much better than creating your own cryptocurrency. Like what Venezuela, India, China, Africa and a couple of others have done or doing that has either failed miserably or is waiting to be fail as the govcoin gets released.


I believe Bitcoin is for all, whether an individual, a financial institution, or a government/state entity. It’s a permissionless, open protocol for anyone who wants to use it for its main value proposition = Censorship-Resistance. OR as a back up/hedge/fall back in case of the people in the government/Central Banks loses control of the financial system.
3117  Bitcoin / Bitcoin Discussion / Re: Dollar Cost Averaging Question on: December 14, 2021, 05:23:37 AM
If I wanted to buy $1,400 of bitcoin every week, should I buy $200 a day or should I buy the $1,400 every week?

Any options will be greatly appreciated.


Every week? How long, forever? It wouldn’t matter if you have unlimited capital. But because I believe you don’t have enough capital, always wait for a DIP, try to use your capital as efficient as possible. Don’t buy blindly like Michael Saylor did in 2021.
3118  Economy / Speculation / Re: I know you have all been waiting in anticipation of on update.... on: December 13, 2021, 06:00:26 AM
I don’t think the legal debate between Craig Wright will have any effect on BTC price. After all with all the evidence presented, most people know he is not the real Satoshi. I think people are thinking that it’s wise to buy his BSV coin because he will dump all 1.1M BTC on the Bitcoin network which would cause the price to crash.

A bigger issue is the Mt Gox distribution which will happen in 2022 sometime. This might have an effect on price because most likely some people will take profits and sell. At least some of their coins and when the time line is released, many will sell their coins well in advance because they think price will crash.


What Craig Wright, and the Bcash SV holders might actually want to happen is for Bcash SV to surge high in market value. Then because “he is Satoshi”, he can order a Bcash SV hard fork to take all pre-2012 dormant coins under his control.


It’s been years since I looked at the BSV protocol however I am pretty sure the way it’s designed is that any dormant coins will just be brought back into the supply and miners will get those coins.


There goes self-sovereignty in the protocol. There goes censorship-resistance, and there goes the developers’ social contract to the community. What are they using POW/blockchain for? Use MySQL database.

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The issue is that if you look at the BSVUSD chart, you will see it has hardly done anything for the past few years. A few scam wicks here and there and that’s about it.

Even if he gets those coins, they will be worth like $100 each and if he starts to sell the coin will tank to like $1.


They treat it like other shitcoins. Pump it, then dump.
3119  Bitcoin / Bitcoin Discussion / Re: Isn’t KYC anti-ethical to Bitcoin? on: December 13, 2021, 05:47:26 AM
It’s the centralized exchange’s right to ask for identification for a person to use their service, and if you don’t want to give it, then you have the freedom to use another service.


I don't disagree with that at all. If a private company wants to set ridiculously invasive rules and requirements, they are absolutely free to do so. And if an individual user wants to compromise all their privacy and security by complying with those ridiculous rules, then again they are absolutely free to do so. That doesn't mean it is a good idea, however, and it doesn't stop KYC from being antithetical to the whole point of bitcoin.

This is similar to using a third party payment processor to process your transactions or using a third party web wallet or exchange to hold your coins for you, as both are antithetical to bitcoin and defeat the entire point of not having intermediary third parties. Doesn't mean people won't do it, though.


I believe nothing is “anti-ethical” if if wasn’t forced on the user. It’s your choice to use an exchange, or a service under their terms, and if given no other choice, we have the tools to increase the anon-set. I believe Lightning will become one of these important tools.
3120  Bitcoin / Bitcoin Discussion / Re: Isn’t KYC anti-ethical to Bitcoin? on: December 11, 2021, 11:37:20 AM
Yes, it absolutely is.

Look at what the whitepaper says about privacy:
The necessity to announce all transactions publicly precludes this method, but privacy can still be maintained by breaking the flow of information in another place: by keeping public keys anonymous. The public can see that someone is sending an amount to someone else, but without information linking the transaction to anyone.

KYC prevents this entirely. You cannot keep your public keys (and by extension, your addresses and transactions) anonymous when a centralized exchange controls all your keys, knows exactly who you are, and hands that data over to massive blockchain analysis companies.


I believe it’s debatable. It’s the centralized exchange’s right to ask for identification for a person to use their service, and if you don’t want to give it, then you have the freedom to use another service. If this is the current system we have, we should have the tools to send our UTXOs somewhere to reset, and increase the anon-set. cAPSLOCK has a way. Cool
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