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4161  Bitcoin / Bitcoin Discussion / Re: Russian head of the committee on Energy about selling oil and gas in Bitcoin on: March 25, 2022, 01:18:02 PM
IF it ends up as a "underground-only" cryptocurrency, "according to" a cabal of entities who make the "rules", because a scantioned nation-state used it?

Most of the world population goes by those rules. They usually end up as laws.

Will it be "our" loss if it proves the technology works as designed? Plus a nation-state truly using it will not make Bitcoin "underground-only", it could start real adoption.

There are a lot of wonderful experiments that didn't get world wide acceptance/traction for whatever odd reasons. And I will not talk (only) about (some) altcoins, I would (also) talk about better ways to store data (much better than DVD), for example. The world goes on and most will not miss that, but for some.. it's a loss.

You do have a good point about proving it works as designed, although imho that was already proven.
Can Russia trigger real adoption? I doubt it. Just look how the "adoption" went in China. They toyed Bitcoin for a while, then kicked it out and started their centralized coin. It has proven to us the Bitcoin resilience, but for the average Chen it's a loss.
And the western banking sector (and it friends) just waits the perfect opportunity/reason to ban their main competitor. And then.. who will adopt Bitcoin?

Are you saying the community should protest, and tell Russia not to use Bitcoin?

It's a free world (actually network), that's the beauty of it. And protesting won't help; I don't expect Russian government care at all.
But please allow me still be concerned, OK?

But what would be the point of Bitcoin? What would then be its main value-proposition?

I find Bitcoin now at a thin balance between the experimental status and worldwide adoption. I fear that the critical mass (user base) is not yet achieved and although we both have similar goal for Bitcoin, I'd prefer to "play safe" a little more.
What we have now with Bitcoin is a mix of hope and speculation. Bitcoin's actual value will come after the critical mass is reached and we can go on with or without the current financial sector.

It will for me, it might for Putin and other sanctioned countries, and for the Heroine dealers in the dark markets.

I don't think that you really want that. It would be an immense setback.
4162  Bitcoin / Bitcoin Discussion / Re: Russian head of the committee on Energy about selling oil and gas in Bitcoin on: March 25, 2022, 08:28:07 AM
It will be their loss in my opinion, and Bitcoin will crawl into the systems that the legacy "legal entities" will not serve, and make those markets more efficient. The price might crash, but I'm confident it will surge again.

If Bitcoin ends up as underground-only currency, it will be everybody's loss.
Sorry, I find your view in this a bit limited (or maybe I just don't understand it), and repeating that bitcoin is permissionless medium of exchange won't change that.
For example, an asset only in the underground markets - no matter the price recovers or not - won't really be seen as a store of value.
4163  Bitcoin / Bitcoin Discussion / Re: Honduras to declare Bitcoin as a legal tender? on: March 25, 2022, 07:54:15 AM
- Rumors about Russia accepting bitcoin for oil, not confirmed and most likely fake!

I've just read a post telling that Iran has been doing this for years, and partly with Russia.
Of course, it's a bit strange that they've decide to tell this loudly now, when they could have been continuing to do it without drawing extra attention.

BTC Goes up 6% in price!
That's why I stay out of trading, things don't make any sense when we have confirmed good news the price goes down, when we have fake rumors (like Amazon) we go up even two days later.

Buy the rumor, sell the news! Cheesy
Actually the same was about the ETF rumors. Some speculators pumped the price a couple of times just because the market had certain expectations.
(And yes, I agree with staying out of trading in this strangely turbulent market.)
4164  Bitcoin / Bitcoin Technical Support / Re: Why all this hype with Hardware Wallets when Bitcoin Core is all you need? on: March 25, 2022, 07:40:05 AM
I am asking this question since whenever I see someone asking about how to store bitcoin, all the answers I read is buy a HW, but I rarely see someone advising to just use Bitcoin Core... the most reviewed and secure client?

* The average Joe will not save 400+GB on his HDD. He doesn't understand pruning, he doesn't want to wait days for the initial sync and doesn't understand why should he download such amount of data.
* The average Joe probably has Windows or mobile phone he wants to use Bitcoin with.
* The average Joe is not tech savvy and he would make mistakes if we would advise him use cold storage. I've seen case when one was claiming he has cold storage which he connects to the internet when he send transactions.
  (Yes, he got his money stolen by some malware/exploit).

Bitcoin core is great, but it's not for everybody.
Bitcoin core, if used as hot wallet, is as vulnerable as any hot wallet.

So what other option we have for newbies? At least from my side it's not marketing; it's genuine attempt to help users keep their coins safe.


wanted to post in bitcoin and not bitcoin tehcnical support (since I do not think it is the correct place) but I can not delete it

Then move it. See bottom-left link.
4165  Bitcoin / Press / Re: [2022-03-16] Bitcoin rallies as new South Korean president vows crypto push on: March 25, 2022, 07:28:48 AM
Although the title tells it, I want to emphasize that the news is from 16 March; more than one week old.

So what this news talks about is not the pump from yesterday. The pump from yesterday evening is probably caused by the news about Russian gas and Bitcoin.

I think that the pump related to South Korea was not as big/relevant as expected. All in all, the fact South Korea goes on the path of Bitcoin is great, but the title is not Wink

4166  Economy / Gambling discussion / Re: F1 Formula Sports Racing - Sportsbet.io promotions & discussion thread on: March 25, 2022, 07:03:26 AM
But it is not clear why redbull and others will not be able to cope with their problems?  Of course, we do not know the technical details of the occurrence of these problems, but we also do not know how quickly all these commands that you have listed will be able to solve these problems.  And it can be fast enough.  They are all pros! 

Some will fix their problems, some not (or at least not so good). Some may have done that, some not. But the only way to prove that is on the track.
I didn't say that they are not pro, but until proven otherwise, Ferrari is the safest bet for now. After qualifying, after more races, this should change; I hope so.

In Haas, of course, it also affects the fact that the shitty pilot Nikita Mazepin left, whose dad just bought him the opportunity to play with adult uncles from real F1 pilots.  It's good that at least one oligarch was kicked out. Smiley

Clearly. Still, last year Nikita and Mick were racing for the last spot. Now KMag made 10 points and Mick has finished 11th. In my eyes this means that they have much better car.
4167  Bitcoin / Bitcoin Discussion / Re: Russian head of the committee on Energy about selling oil and gas in Bitcoin on: March 25, 2022, 06:55:40 AM
No ser, it is truly cheered by those who care about Bitcoin as a permissionless, censorship-resistant protocol with an underlying nature that can weaken political strongholds. Those who care only about the price are afraid that that would happen, because "Russia Bad will Bitcoin Bad Price Crash".

For Russia and China, Bitcoin is only a toy they can use and throw away. If Russia will indeed sell gas for Bitcoin to whatever sanctioned countries, we may get back to "bitcoin is illegal money" and businesses/individuals getting restricted in using it.
I do understand your point, this kind of use would show how powerful Bitcoin actually is. But if then Bitcoin will no longer be accepted in the western world... it will be pretty bad, and not only for the price.
For "underground" use there are the privacy coins. But I would not be happy with Bitcoin used again only by (some of) us. I want to see Bitcoin accepted literally everywhere, by every merchant/business. The more legit the better.
4168  Bitcoin / Hardware wallets / Re: Be careful what you plug your hardware wallet into your PC with on: March 24, 2022, 06:42:51 PM
Leave a few around Bitcoin Miami and you could probably get someone to plug them in.

Well, we know that most aren't into Bitcoin because of the tech Wink
And then I can guess the horror (and the bad publicity) if such exploit indeed happens at a big Bitcoin event Grin
4169  Bitcoin / Hardware wallets / Re: Be careful what you plug your hardware wallet into your PC with on: March 24, 2022, 06:33:03 PM
Looks like there's a new reason to keep an extra PC/laptop to interact with crypto. Of course, with USB type A, even then no adapters are required. This means that the threat described in this topic will be excluded.

USB A can easily handle exploits for PC/laptops, see the link from my other post here.
So by making the wrong assumptions, instead of protecting one, you can end up getting malware on the other.

More and more manufacturers are refusing to use USB A in their devices, and over time this will lead to a shortage of such devices. The market for used devices will not be endless either.

This doesn't really make sense. USB A is still widely used for PCs, I don't think they'll get no-longer-produced too soon. And, if you want to, you can easily buy cheap and straightforwards adapters from USB A to micro USB or USB-C like this one:

4170  Bitcoin / Bitcoin Discussion / Re: Russian head of the committee on Energy about selling oil and gas in Bitcoin on: March 24, 2022, 04:13:59 PM

This news is cheered by those who care only about the price (which has indeed started going up), but I fear it will give even more ammo to Bitcoin's opponents.

And BTW, the whole news as I've read it, tells that they consider asking Bitcoin from the friendly countries and rubles or gold from the others.
However, changing the means of payment currency is not allowed by most of the existing long term contracts, so this looks to me like pushing the countries take the (not so easy) decision of finding better providers than Russia.
4171  Economy / Gambling discussion / Re: F1 Formula Sports Racing - Sportsbet.io promotions & discussion thread on: March 24, 2022, 11:38:32 AM
I don’t understand why they put more on Leclerc???

That's because one week ago the Ferrari cars (and Alfa Romeo Ferrari, and Haas Ferrari too) looked really fast and reliable, which we cannot tell neither about RedBull (or Alfa Tauri), nor Mercedes (and McLaren, and Williams) cars.
And sadly, the history has shown that in most cases the only thing you need to wind in Formula1 is a car that's better than the others'.
So unless RedBull and Mercedes prove that they have fixed their problems, the only competition for Leclerc may be... Sainz.
4172  Bitcoin / Bitcoin Discussion / Re: Regarding the high loss rate of Bitcoin, has Satoshi Nakamoto considered? on: March 24, 2022, 11:28:45 AM
A loss rate greater than 5% per year is an assumption, a possible scenario.
If the loss rate is too high, the person who owns Bitcoin first can take away the labor value of the new person who wants to own Bitcoin only by depositing coins.

Hoarding has the same effect, so you don't even have to have 5+% loss rate, the price will rise anyway.
But isn't it the same with gold, stocks and so on? The early birds always have a big advantage.

and newcomers will no longer want to own Bitcoin because their labor is being exploited by others.

Newcomers will want to profit themselves. This is why people are investing, actually. And with companies already acquiring bitcoin as reserve/store of value, I don't see any problem here.
Again, you have this "problem" with anything that's scarce and is being hoarded, no matter the loss rate.


The loss rate can be a problem only for the coins in circulation, used as currency. That's why people came with solutions like using satoshi or even millisat as measure unit.
4173  Economy / Collectibles / Re: Auctioning 2 Ballet Bitcoin Blocks (13.3135 and 6.5504 BTC) at Great Collections on: March 24, 2022, 11:11:16 AM
will be accepting crypto via BitPay.

Truly wonderful blocks.
However, I think that it may worth mentioning to the possible bidders that BitPay will probably be asking for KYC details when handling the payment.
4174  Economy / Economics / Re: I heard a rumor that OPEC will go 300 USD / barrel this year on: March 24, 2022, 09:24:09 AM
I heard a rumor that OPEC will go 300 USD / barrel this year ,what do you think ?

While the possibility exists, the probability is slim.
USA has oil reserves they use to soften price shocks. At 200$/barrel (just a random very high price still much lower than 300) I am certain that many (at least from Texas and OPEC) will consider increasing production and some will consider lowering consumption. Talks with Venezuela are also a fact. I think that market will equalize itself and 300$ won't be reached.

I don't know where you heard the rumor from, but imho it looks more like an attempt to panic people than something with realistic chances to happen.
4175  Bitcoin / Mining / Re: Bitcoin mining is best with ant miner or graphic cards? on: March 24, 2022, 09:14:21 AM
Is bitcoin mining through graphic cards is profitable then ant miner?

As said, Bitcoin cannot be mined in 2022 with graphic card.

However, you can mine with that card altcoins which either you exchange to Bitcoin, either the mining pool does that for you.
It's not mining Bitcoin, but you can obtain bitcoin. However, for that you better ask in Altcoin mining.
4176  Local / Presa / [2022-03-24] Elvila accepta plati crypto on: March 24, 2022, 08:53:31 AM
[P] De astăzi, îți poți mobila casa plătind cu cryptomonede
https://www.hotnews.ro/stiri-esential-25454323-astazi-iti-poti-mobila-casa-platind-cryptomonede.htm

Nu credeam ca o sa ajung sa-i fac reclama lui Catarama, dar am gasit in articol 2 puncte interesante.

1. Un magazin de mobila (deci nu Electro-IT si nu automobile) cunoscut accepta plati crypto.

si mai ales

2. Solutia folosita pentru plati este cea dezvoltata de echipa Elrond.

Imi place ideea de a avea mai multi procesatori de plata cu crypto in tara, poate ca o sa inceapa sa scada comisioanele. Pana acum ar fi Netopia si Elrond, din cate stiu.


Compania va accepta plata cu principalele patru cryptomonede ca popularitate din România - BITCOIN (BTC), Ethereum(ETH), Elrond(EGLD), și Tether (USDT). Plata prin cryptomonede va fi realizată prin intermediul unui operator specializat – UTRust – o soluție a celor de la Elrond, start-up românescu cu mare experiență în domeniu, ce va garanta un curs de conversie stabil pentru 15 minute
4177  Bitcoin / Hardware wallets / Re: Be careful what you plug your hardware wallet into your PC with on: March 24, 2022, 08:43:09 AM
(wouldn't such a cable be too bulky?!)
I just wanted to ask this.  Is there no way to tell a compromised cable from a non malicious one?

I remembered that I've seen here in the past a discussion about malicious cables and I've found it: https://bitcointalk.org/index.php?topic=5186863
It looks like the cable is not really different from normal ones; at least no visible difference. So it's a real problem.
4178  Other / Beginners & Help / Re: Don't accept bribe to do KYC, it doesn't worth it on: March 24, 2022, 08:29:04 AM
Yep. Do KYC farms exist? I wouldn't be surprised if people from poor countries(ŕ la Venezuela) mass submit KYC documents for the "free" $5-50 per registration; like how some try to make money through bounties and faucets. Assuming that these KYC offers are offered to these countries as well.

I think that such farming may exist even in projects advertised on this forum. At some point altcoin announcements still existed with airdrops that needed KYC. And probably they're still some, although I avoid that area now.
It's cheaper to give the plebs worthless tokens for the KYC info one is farming. Then whatever price it that sold at, it's basically pure profit.
Afterwards one can increase the business and go for the next level, offering 5$ BTC  Cheesy
4179  Bitcoin / Hardware wallets / Re: Be careful what you plug your hardware wallet into your PC with on: March 24, 2022, 08:20:37 AM
a MITM attack working against a certain hardware wallet.

Since the only valid uses for a cable are for signing transactions and maybe for charging, I'd guess that the transaction info going to the HW could be altered with the "right" cable (wouldn't such a cable be too bulky?!)
But even then, such an attack could work only if one doesn't pay attention what the HW screen shows before signing (unless it's Jack's screenless future HW lol).

However, I guess that the validation (or not) for my theory may have to wait "a few weeks"...
4180  Other / Beginners & Help / Re: My First Year on this Forum on: March 24, 2022, 08:02:58 AM
While my journey with bitcoin started back in late 2014, I recently surpassed one year of being part of this forum.

Congratulations, it's a nice milestone. Smiley

Needless to say, the many contributors to this forum were successful in changing some of my viewpoints with life and with currency.

When I had joined this forum, my wallet was stuffed with loads of ‘promising’ altcoins. Not on the level of my btc holdings, but enough that my present self wouldn’t be too pleased. Reading the various discussions of what currency is and why bitcoin IS what it is, enabled me to see through the VCapitalist garbage that is permeating the web.

This forum also gave me the blessing of perspective; What’s considered a lot to one person, could certainly be considered nothing to another, and vice versa.

While it certainly makes me feel good that I've helped here and there, the actual merit is completely yours.
As you said about perspective: some weight the different opinions, some "know better" and are interested only in those validating their views. Some come here and learn, some others come only after they've got into problems they cannot fix (yes, I know, it can also be a matter of luck - the moment in your life the search engine lands you here).
You seem to have a healthy way of thinking and .. well, that's your merit. The rest just comes from this.
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