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4581  Bitcoin / Bitcoin Discussion / Re: Bitcoin to the rescue again on: June 05, 2022, 04:07:59 AM
I'm not sure this is something you should be happy about! Specially since your title doesn't make any sense.
Basically a shitcoin creator makes a useless token called Tatcoin and creates 200 million of that token out of thin air worth about 636 bitcoin and then he dumps this garbage on idiots who believe the lie telling them "its the next big thing" and buy it while the price continues dumping from 320 satoshi down to current 5 satoshi.
Then he donates a tiny portion of his ill gotten gains (half a bitcoin) to a presidential candidate!

If anything the government should put an stop to this type of scam and arrest such people as Gaius Chibueze.
None of it had anything to do with bitcoin though.
4582  Bitcoin / Bitcoin Discussion / Re: Bitcoin transaction "DDOS" on: June 05, 2022, 03:46:45 AM
They already did that in 2017. There were many large scale spam attacks against bitcoin sponsored by different malicious groups such as some of the shitcoiners like DASH. There is a protection against such attacks with a cap on block size and certain restrictions on each node's mempool size.
First thing that happened was that the fee went up so the cost of the attack went up and any of the spam transactions with low fee was simply forgotten as the nodes dropped them from their mempool.
4583  Other / Politics & Society / Re: Did Biden receive another middle finger from Saudis? (Taiwan was abandoned) on: June 04, 2022, 05:57:34 PM
@pooya87, Didn't Biden publicly say a few days ago that he would intervene militarily in the event of a Chinese attack on Taiwan?
It's impossible to predict what would any of them to be honest, US was also promising support to Ukraine and we saw what happened in reality! But right now it seems like all sides are trying to deescalate with US state department stating they don't recognize Taiwan's independence. Which is a good thing if it continues and I really hope it does otherwise things could get out of hand very quickly.

Some analysts believe that if China really invades Taiwan and US gets involved they will find themselves in a war all around the world. For example two things happened in the past 2 weeks that support this analysis.
One was Russia's fake withdrawal from Syria which was just an excuse to let the Resistance move in and surround US military bases and also to bait Turkey to attack northern Syria and get caught in a hellhole with no exit and continue losing troops (this also put and end to Turkey's attempt to take Iraq's gas and bring it to EU). Other US bases in West Asia were also surrounded and all fingers are on triggers. That's good chunk of US military force.
The other was the Chinese defense minister travel to Iran at the same time all this was happening which many believe was for coordination and planning of what I explained above; a large scale conflict.

If this is true, then it explains the deescalation because it is a good deterrence for US to not want to get involved in Taiwan situation.

My local press also claims that Biden is still traveling to the SA at the end of this month, and this is confirmed by other sources from just 48 hours ago.
That seems to be true but the thing is ever since September 2019 when the Saudi Aramco facility was attacked and million dollar defenses they bought from US proved to be useless and then US didn't do anything to help Saudis, they've been biting the hand that has been feeding them. They also didn't want Biden to win but he did win and now he is mad because they were funding Trump to win. The situation is already too complicated there specially since ceasefire with Yemen is hanging by a thread and they could blow up Aramco again decreasing their production by 50% or maybe more this time.

I also read the news about OPEC but I won't believe it until I see the production increase first.

Fortunately, summer has already arrived in the northern hemisphere, people do not need heating, and bicycles and electric scooters are increasingly being used. This can somewhat ease demand
I don't know how much this decreases the overall demand since I read somewhere that most of the energy usage was already in factories and big industries not the households. Considering how some industries shut down over the past couple of months and generally all of them have been complaining the most about the soaring energy prices I think it is true.
4584  Bitcoin / Development & Technical Discussion / Re: Thoughts on burner addresses on: June 04, 2022, 01:22:33 PM
I'm not sure that would have been a motivating factor for Satoshi. Was a "pre-mine" even a concept which existed prior to altcoin creators using it to make themselves richer at the expense of their users? Would Satoshi even have known of the concept of "pre-mining"? If he was overly concerned about being seen to be pre-mining, then it doesn't make sense for him to have mined the first block 5 days prior to announcing the release of the software to the mailing list.

And you could equally argue that the genesis block isn't a pre-mine; it's a regular mine. Pre-mining is setting aside x amount of coins before your chain is even launched. The genesis block wasn't that, but rather the standard block reward for mining a block. It just so happened to be the first block.
The basic concept of a pre-mined coin is "coins that were produced in an unfair way when one party has all the advantage". In other words the fact that nobody else could mine block 0 and Satoshi mined it in private makes the reward of that block "pre-mined". I'd say that the fact that he mined the block doesn't change that.
In contrast block 1 could have been mined by anybody since the software was released and the network was live before the block was found, which makes the rewards of blocks 1+ fair distribution.

What pre-mined altcoins do is the same thing, they just remove the effort to mine a valid block by summoning the coins out of thin air but the principle of "coins created in an unfair way" is the same.
4585  Other / Politics & Society / Re: Will Russia Emerge As The Next Dominant Superpower on: June 04, 2022, 01:05:29 PM
Yes, Ukrainian servicemen participated, but
- after the end of the US military operation in Iraq
- in a peacekeeping mission.
The point is that the double standards you clearly pointed out in your comment are the reason why Ukraine is currently in this situation. Iraq and Ukraine as two sides of the same coin. Bloodthirsty aggressors are different* but the result is the same, innocent civilians are harmed in both cases.
The same world with the same double standards and same mechanisms and same useless organizations has led to this. Like useless United Nations that has had US vetoing every resolution against their actions and actions of the apartheid regimes they support is now being abused by Russia to veto the resolutions against their actions!

* Ukraine was part of it whether the propaganda you believe tells you or not. I don't have to read some propaganda piece you call "open sources" to know the crimes that were committed there, I have first hand information from people who lived through those days.

2. The story of Iraq is the price of a mistake. A very costly mistake. The stuffing of misinformation was done deliberately or not, or it was the personal interests of someone from the tops in the White House, I find it difficult to say. But I think the main reason - in terms of the quality of information, is unacceptable. It also seems to me that the way of isolating the government of Iraq (S. Hussein and his henchmen), sanctions and embargoes would be more acceptable. By the way, after this, I will say this word again, international dubious operation, the practice of monopoly supply of intelligence information from the CIA ceased in the United States. Now this structure includes, if I am not mistaken, about 10 unrelated and independent intelligence structures from which information is collected for the US administration. In a word, I have a negative attitude towards such a decision, as well as any one built on a lie.
You are wrong my friend, it was not a mistake it was a decade long plan.
For starters the project to invade Iraq didn't start in 2003, it started in 1990 when Saddam invaded Kuwait and the same double standards I talked about showed themselves as he was condemned by the same countries (that included your NATO) that were helping him in his invasion of Iran. And when I say help I'm talking about billions of dollars worth of weapons including chemical bombs made in US and Germany. He was an ally from 1980 to 1988 but as soon as he was defeated the tables turned and he suddenly became a dictator overnight and condemned when he invaded another country 2 years later.
Besides US attacked Iraq more than a hundred times prior to 2003 always targeting Iraq's defending capabilities alongside the project called "Iraq disarmament" orchestrated by UN between 1990 to 2003. You don't need access to some classified information to know what the plan was!!!
4586  Other / Politics & Society / Did Biden receive another middle finger from Saudis? (Taiwan was abandoned) on: June 04, 2022, 10:02:18 AM
Biden was supposed to travel to Saudi Arabia to beg them to increase production and reduce oil prices, the plans were canceled and at the same time Taiwan was abandoned just like Ukraine as US declared they don't recognize their independence essentially showing green light to China for annexation. This is a good indication that the Western economy can not take another tension specially ever since China began increasing pressure on their economy by shutting down their ports for 2 months.

The question is, what does it all mean for energy prices and the Western economy?
~$120 is here to stay and could start climbing up again if we see the suppliers increase their pressure to raise prices or some idiots start increasing tensions again.
Could the economy of consumer countries take this?

On another news Turkish inflation reached 75% as their attempts to become a hub to transfer the much needed gas to EU failed before they even began anything. That means that faint hope for a little cheaper energy also died for EU.
4587  Bitcoin / Development & Technical Discussion / Re: Thoughts on burner addresses on: June 04, 2022, 09:48:57 AM
Unless you mean the reason Satoshi did this? Likely just an oversight.
Chances of it being an oversight are low, in my opinion.
If you think about it, Genesis block and its reward (worth $1.5 million today) is technically a premine IF it could be spent and that's would not have been a good thing to have in Bitcoin.
4588  Economy / Economics / Re: Food crisis coming? What's wrong about it? It could be good on: June 04, 2022, 04:41:40 AM
There was more police in the streets, though. Not sure why.
The more I read your posts the more convinced I am that you are underage.
There are there because over the past couple of months there has been a lot of protests around Europe. In France for example after the election last month there were mass protests around the country, they killed a dozen people and it stopped. Same in UK, Germany, Spain, Italy, Slovakia, Ireland, Poland, Belgium, Netherlands, Denmark, Hungary, Romania... These are the ones I could find on the internet and they are mainly about fuel and transport costs and some of them extended to rising food cost.
4589  Economy / Speculation / Re: Sideways huh! on: June 04, 2022, 04:29:11 AM
Week after this post mate , market is showing some good bunce though 4-7% isn't enough to cover the loses it brings from the months of dumping and if this is going to continue then maybe we will see a 40kish this month alone and since this is the end of 2nd quarter ?
It is not a "good bounce" as long as price doesn't go above the resistance which I'd say is about $35k and until then it is still sideways as OP said 2 weeks ago. In my experience the breakout is going to be swift, not like this small slow rise to $31k but a big green candle destroying $35k+.

Quote
then we will be seeing another pump and dump in the next quarter before the last quarter comes.
We haven't had any pump and dumps in bitcoin for at least 9 years.
4590  Bitcoin / Bitcoin Discussion / Re: Goldman Sachs Group lends money to Coinbase backed by bitcoins on: June 04, 2022, 03:48:37 AM
Well, Coinbase did say they were going to hold their Bitcoin.  I guess with the recent collapse of Luna and the altcoin market, Coinbase is in need of some funds (their stock price certainly indicates this).
Why would they need money? They are offering a lot of services including their exchange service, payment processor and more and considering their popularity and huge volumes I'd say they are making a ton of money every second.
4591  Bitcoin / Electrum / Re: Excessive Elektrum Fees on: June 04, 2022, 03:36:30 AM
Are you by any chance using the 2FA wallet because the first transaction of a 2FA wallet will pay a fee to the service you are using that is equal to 0.0005BTC and it could look like a "high fee" if the amount you are transferring is small.
4592  Bitcoin / Development & Technical Discussion / Re: Thoughts on burner addresses on: June 04, 2022, 03:10:15 AM
I meant that using burner addresses like the bitcoineater one, no one really knows if someone possesses the private key to it or not. you don't expect that anyone knows it but you don't know exactly how they came up with that address so you can't really say for sure.
Then that is a different argument than "cracking the address".
You are right, there is no proof that the burn address is not-generated using a private key regardless of how unlikely it is. But that is still not called "cracking" since the creator would already have the key.

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But why is someone using a legacy address to hold that much BTC?
Because it is 100% secure as long as the key was generated correctly (used a strong random generator) and kept safe.

Quote
Lose your private key or if someone else gets your private key, it's all gone.
Nobody can "get your key" as long as you are protecting it correctly. Besides if you are incapable of protecting one key, you are not going to be able to protect multiple either.
4593  Bitcoin / Development & Technical Discussion / Re: Create a seed from a selection of words on: June 04, 2022, 03:01:48 AM
Early wallets were not deterministic. Whenever the wallet needed a new key it just called up its RNG and created a new random key. That means there were no seed or seed phrase in early days. After some time, due to possibility of flaws in RNGs and bugs in some implementations, deterministic key derivation (BIP32) was introduced and wallets slowly started switching to that. Shortly after, in order to make backups user friendly the concept of using mnemonics or seed phrase (BIP39) was introduced.
4594  Bitcoin / Development & Technical Discussion / Re: [Megathread] The long-known PoW vs. PoS debate on: June 04, 2022, 02:52:36 AM
~
At this point you are just putting your head in the sand and disagree with anything that anybody else is saying.

Only Bitcoin is still PoW, and only Bitcoin will be affected by any bans because of energy waste.
Funny thing is that nobody can restrict bitcoin but they can easily restrict PoS coins. All it takes is to call up the developer who also holds majority coin and demand censorship or they can seize their coins and kill the chain by owning majority state in Proof of Stake.
4595  Economy / Economics / Re: Food crisis coming? What's wrong about it? It could be good on: June 03, 2022, 12:23:08 PM
There will be no food crisis for me.
Price of pasta, price of cooking oil, rice or meat will increase 20%? 30%?
That's all right. I don't care much. I can handle it, just like most people in developed countries. We don't spend much on food, increasing that budget by a third is perfectly fine.
You are looking at the situation at a very short period and with a very selfish view either because your financial situation is way above average or you are too young and have never faced the real world.

A large number of people in developed countries are living hand to mouth, rising prices even a little bit puts a lot of pressure on them. On top of that the food crisis is not coming alone, it is accompanied by energy crisis and other crisis. Some of it is causing businesses and industries to shut down. Imagine someone in middle class who loses their job too, now they don't even have an income to pay previous food prices let alone the increased ones.
For example 90% of Americans (a supposedly developed country) are considered middle to lower class.

The problem will be with the poor countries, but I wonder: is it a problem, or a solution?
Number one rule of the world has always been the survival of the fittest...
That's racist.
4596  Bitcoin / Bitcoin Technical Support / Re: Private Key format on: June 03, 2022, 08:56:53 AM
Apart of fact that it looks like uncompressed and it must be compressed key for 3... address,
The private key could be one out of one or more keys used in a legacy P2SH redeem script (eg. in a timelock or a multisig script) so it can be either compressed or uncompressed. Even if this corresponds to a P2SH-P2WPKH script it still could be a non-standard uncompressed key.
4597  Economy / Speculation / Re: BTC Sentiment Poll for June on: June 03, 2022, 06:42:23 AM
Questions like this are fundamentally flawed because the sentiment changes in a much shorter time for example it could change daily. Right now the sentiment is undecided which is clear from the sideways market that we have been seeing but this could change in an instant if price breaks a certain price whether it is a lower price in a drop or a higher price in a rise.
In other words your poll results show the sentiment of the day people voted (which is close to 50-50 hence proving my point about being "undecided" to some extent) not for June.
4598  Other / Politics & Society / Re: Will Russia Emerge As The Next Dominant Superpower on: June 03, 2022, 06:22:43 AM
NATO, as an international organization,
NATO is a European organization that includes US, not an international one.

the Russian terrorists
Since you've been using this term regularly I wonder what your views are on the US led coalition that illegally invaded Iraq and killed more than a million innocent people. Your country, Ukraine was part of this coalition and supplied the third largest number of troops for this massacre.
4599  Other / Beginners & Help / Re: No such thing as Too Big to Fail on: June 03, 2022, 04:51:45 AM
Luna was a good coin and good investment,
I'm not sure if this is a typo or you are just crazy Smiley
A centralized shitcoin with nothing to offer is never a good coin or a good investment. The failure of such projects are practically guaranteed from the start, we just can't predict when they are going to fail. If you check the list of top 20 altcoins, they too are like ticking time bombs waiting to die just like Luna.
4600  Bitcoin / Development & Technical Discussion / Re: How much text can you put in a bitcoin message? on: June 03, 2022, 04:46:54 AM
Thanks for your information. I tried to PM you asking how much you would charge for a bitcoin client that sends messages to the blockchain.
Electrum wallet already exists and as it was pointed out in this topic it allows you to create OP_RETURN outputs that are used to include an arbitrary message in your transactions, there is no need to pay someone else to create a new client for you.
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