[Nick Szabo: Central Banks May Turn to Cryptocurrency Reserves Over Gold]

Full title: Nick Szabo: Central Banks May Turn to Cryptocurrency Reserves Over Gold

At the Israel Bitcoin Summit at Tel Aviv University on Jan. 8, veteran cryptographer Nick Szabo explained that the use of censorship-resistant cryptocurrencies will rise in countries sanctioned from trade and economies suffering from failed monetary planning. Szabo also argued that the world’s central banks might turn to cryptocurrency reserves in the future in order to supplement national gold reserves.

Nick Szabo Strongly Believes Distraught Economies and Sanctioned Countries Will Seek Refuge In Cryptocurrencies

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Cryptographer Nick Szabo is an interesting character and a well known figure in the cryptocurrency community. Long before Satoshi Nakamoto introduced Bitcoin, Szabo designed the Bitgold concept back in 1998. Two years before that, Szabo’s writings forecasted the use of smart contract technology and autonomous organizations. On Jan. 8, Szabo spoke at the Israel Bitcoin Summit at Tel Aviv University and gave the crowd a history lesson on the use of currencies worldwide. During the talk, Szabo explained to attendees that he believes countries blacklisted from trade and regions dealing with hyperinflation will turn to digital assets. Over the last two years, cryptocurrencies like BTC and BCH have been gaining traction in areas like Venezuela, Zimbabwe, and Iran.

According to attendees at Tel Aviv University’s cryptocurrency event, Szabo’s keynote was in response to comments made by Avi Simhon, senior economic policy advisor and Israel’s head of the National Economic Council. Simhon remarked at the summit that Bitcoin technology is “intrinsically inefficient” and “will disappear.” Moreover, the economic policy advisor for the prime minister explained that using the technology on a global scale would waste “trillions of dollars of actual cost in energy.”

Even Central Banks May Attempt to Hoard Bitcoin Reserves Over Gold

Of course, Szabo wholeheartedly believes in cryptocurrencies and his talk explained the many benefits of the digital revolution. Additionally, Szabo asserted that it is possible in the future some of the world’s central banks will turn to cryptocurrencies rather than gold.

“There’s going to be some situations where a central bank can’t trust a foreign central bank or government with their bonds for example,” Szabo emphasized during his talk. “One solution that’s been developed is to have the Swiss government hold it for you – that’s not a trust minimized solution. The Swiss government itself is subject to political pressures and so a more trust minimized solution is cryptocurrency.”

Szabo continued: 

"The other problem with gold reserves is that they’re physically vulnerable. When the Nazis conquered countries in Europe, the first place they went to was a central bank’s gold reserves."

Over the last few weeks, a number of top market makers and economists have asserted that the world is facing tumultuous times. Traditional investment vehicles like equities and stocks have been extremely volatile, but precious metals markets have recently seen significant gains. In contrast, this past Monday the spot price of gold touched a six-month high at $1,288.03 per ounce and gold futures settled at $1,289.90 per ounce. Meanwhile, because of increased demand and worldwide shortages, palladium hit an all-time peak in value this week.

During the speech in Israel, Szabo seemed to be far more confident about the future of digital assets over precious metals. Many cryptocurrency proponents over the years take the cryptographer’s predictions seriously because of his early forecasts about the future of smart contracts. An audience member at the Tel Aviv summit even quoted Szabo for saying “Bitcoin could survive a nuclear war.”

Source: https://news.bitcoin.com/nick-szabo-central-banks-may-turn-to-cryptocurrency-reserves-over-gold/

Bitcoin payment processing startup OpenNode has rejected a $1.5 million investment gesture made by Roger Ver.

The company, which exclusively supports the Bitcoin payment protocol, confirmed that its vision of a better and more open financial system could not be achieved with Bitcoin Cash, adding that it would spend 100% of its resources on Bitcoin and its second-layer payment solutions instead.

    No amount of money will make us service inferior money. https://t.co/unBoSX2zpZ

    — Rui Gomes (@ruigomeseu) December 30, 2018

OpenNode aims to process bitcoin transactions in real-time to boost the digital currency’s adoption among enterprises and businesses. It supports Lightning Network, a second-layer payment protocol launched to confirm Bitcoin transactions away from the main chain. The efforts led OpenNode to raise $1.5 million in seed funding from investor Tim Draper.

Read more: https://www.ccn.com/no-to-bitcoin-cash-opennode-rejects-roger-vers-1-25m-fund-offer/

[There will be no split]

There will be a hardfork on ethereum this coming January 14-18.

There will be no split. It's just an update/upgrade.

Be careful when someone asks for your wallet.

EDIT:
No free coins on Constantinople hard fork!

My attention is on Constantinople and it made me unconscious about another's vision.

EDIT(January 19, 2019, 03:53:52 PM)
https://bitcointalk.org/index.php?topic=5091221.msg49315850#msg49315850

Game developers will often talk about compulsion loops.

How do I keep the player playing?

How do I keep them from coming back?

How do I keep them paying?

Source

Stephen Barnes, the man who spent $2M on a mobile game. Source
A Japanese guy who spent $70k on a mobile game. Source
Big Jim: the “Whale” who spent over $30K on We Heroes. Source

You think it's a free-to-play game? Think again.
Ooh, they're* also talking about "whale".

Damn this digital era for giving birth to these so called "digital whales".

EDIT:
Spelling*

[Judge Denies Craig Wright's Motion to Dismiss Billion-Dollar Bitcoin Lawsuit]

Full title: Judge Denies Craig Wright's Motion to Dismiss Billion-Dollar Bitcoin Lawsuit

On Dec. 27, court documents from the case against the Nchain chief scientist, Craig Wright, explained a large portion of his recent dismissal motions were found “not warranted” and were denied. Wright is being sued for 1.1 million BTC in a legal case in Florida that alleges he manipulated David Kleiman’s family.

Read more:https://news.bitcoin.com/judge-denies-craig-wrights-motion-to-dismiss-billion-dollar-bitcoin-lawsuit/

[Pump-and-Dump Groups Become ‘Widespread’ as Market Remains Largely Unregulated]

Pump-and-Dump Groups Become ‘Widespread’ as Market Remains Largely Unregulated

The Social Science Research Network (SSRN) recently published research studying the phenomenon of pump-and-dump groups within the crypto community. The paper — conducted by seven academics from Tel Aviv University, the University of Tulsa and the University of Mexico — concluded that “regulators should be very concerned that price manipulation via pump and dump schemes is so widespread.”

Read more:https://cointelegraph.com/news/pump-and-dump-groups-become-widespread-as-market-remains-largely-unregulated

[Added an incident that recently happened in my country]

P.S, I'm not against someone's country, the video is just a great example.



It's also an issue here in my country, rape was all over the news. There was no week that will pass by without seeing any news about rape. It's becoming the new normal, and we, sometimes are blaming women for giving men the sexual urge.

But is it enough to blame them?

Added an incident that recently happened in my country - https://bitcointalk.org/index.php?topic=5020626.msg45318536#msg45318536

[who am I to defend us all?]

May mga ilan na sa atin ang nakabalita patungkol sa mga di magagandang katangian ng mga pinoy sa forum. Hindi ko magawang ipagtanggol (who am I to defend us all?) tayong lahat dahil totoo at may mga ebidensya sila. Nariyan yung shitposter, bounty abuser, at merit abuser na nasobrahan ng init sa katawan.

Kahit bounty hunter ka na english carabao (meron po talaga na english carabao na nilampasan na ako sa rank pero madami ang nai-ambag), may paraan pa para masabi naman natin na may ambag din tayo dito sa forum.

Paano?

Nabalitaan nyo na ba yung tungkol sa report badges? May napupusuang report badge image si theymos at isa sa mga iyon ay gawa ng pinoy! Pakiusap, wag na po nating i-flood ang topic na iyon.

Paano ba ang pagreport?

Mayroon ng guide para dito pero hindi pa sya naka-pinned post. Sa may time na mag-translate nito, sana bagyuhin ka ng merit. Ito po ang Filipino translation para sa mga medyo nosebleed na kagaya ko.


Quick tip nalang sa pagreport mga kabayan kung paano ang magreport:

Paalala ko lang na maraming pwedeng i-report, at ang susunod ay isa lamang halimbawa.

Kapag may nakita kayong walang kwentang post, tulad ng "to the moon", "nice project", "your project looks cool, I will invest" or gaya nito:

I-click nyo lang ang "Report to moderator" at ilagay kung ano ang nilabag ng poster na iyon. Sa poster na ito, ilagay nyo sa "Enter comment" box ay - "Spam/Low value post. Does not add anything to the discussion." o di kaya ay "Unsubstantial post". Madalas ko gamitin ang huling salita, pero tignan nyo na lang kung nadelete na ng moderator iyon bukas o mamaya.

Kapag naka- 100+ reports na pala kayo ay makikita nyo na yung "good, bad, unhandled" na reports ninyo. At kapag nasa 300+ na reports ninyo, may access na kayo sa report history ninyo.

Eto nga pala report history ko kung may curious sa inyo:

Meron akong 3 bad reports at naalala ko pa yun, kaso wala sya sa listahan - lumitaw na sa listahan ko at nadagdagan na bad reports ko.

Sa mga nagbabalak na maging spam buster ng pinas, wag nyo na po asahan na tataas ang rank natin, bibigyan lang tayo ng badges. Pero kung masasabi nila na mga basura tayo sa forum, atleast mayroon tayong report badges, at maari na nating sabihin na -

" You may think I'm a bounty hunter, but I'm a bona fide spam buster."

I'm itching to merit a post/topic because I find them informative and helpful but I can't.

I know that there are merit sources here that gets sMerits a month and they are supposed to give an "x" amount of merit if they find a post/topic informative or good, but these merit sources are only few and I'm not sure if they can handle all of the posts here.

To help these merit sources, I would like to suggest to add a function like "Report to merit sources" and let them review if the posts are informative or helpful.

Here is a thread which I find informative but only one user bothered to give some merits- https://bitcointalk.org/index.php?topic=140793.0 and I found posts on that thread informative.

P.S, delete if someone already asked for this.

[How is Bitcoin different from Ethereum?]

I made a post on a thread - https://bitcointalk.org/index.php?topic=3950099.msg37702905#msg37702905, the thread was titled; How is Bitcoin different from Ethereum? It made me think again of smart contracts TBH, and some parts of that average joe was me.

BTW, I mentioned on my post a link about smart contracts - https://bitcoinmagazine.com/articles/yes-bitcoin-can-do-smart-contracts-and-particl-demonstrates-how/; TLDR? Let me get it short for you; BITCOIN can do smart contracts too!

-Is it possible?
-Does our beloved founder and developers want it?
-Will there be a new bottleneck if this happened?

Share your thoughts, computer wizards!

If the government still doesn't know how to put down all cryptocurrencies(or maybe they're still figuring how to tax users), why wouldn't they create an exchange and get some profit from it?

We know how B.S some exchanges are, they needed KYC but in the end, you won't be able to withdraw your funds.

Instead of spreading FUD, I hope government from all over the world knows that running an exchange can add funds for their country, and their pockets!

I know it will be making cryptos centralized but look at those exchanges asking for our pretty faces and names just for their KYC/AML purposes.

[investor/paid actor]

As I was looking for an ICO, I stumbled upon a thread which is BLOOMATCH-https://bitcointalk.org/index.php?topic=2961703.0, then I searched the site, and I fuck*ng saw Trevon James face, seeing him and his fat lips made me see the legendary investor/paid actor Carlos Matos again in my mind!

Then I saw this post on one of the MANY bounty thread that was created-https://bitcointalk.org/index.php?topic=2961703.msg30633856#msg30633856

I tried if googling it if it's a scam, and I saw these two blog pages:
1.http://freeblogin.com/bloomatch-ico-scam,-notorious-scammers-abhishek-bhanda...read-more_complaint296.html
2.http://freeblogin.com/adcn-scammers-are-now-into-bloomatch-ico_complaint293.html

The 2 men on those blog pages were accused as scammers, and they are conducting an ICO which is BLOOMATCH!

[Metamask]

To all bounty participants who participates on any bounty that asks for your ETHEREUM address, I would like to know if anyone here uses Metamask wallet.

I'm kinda worried if I use my Metamask for receiving tokens from any bounties or airdrops. Should I use Metamask or just stick to MEW?

I'm new to trading cryptos and I just want to ask any members here who use to trade in any online brokerage how much deposits thus your online broker  asks you before you can start trading cryptos.

Any online broker will do. Just needed a list for future reference.

Thanks in advance!

 
I searched how to kill Bitcoin on the search box and saw nothing, so I'll just start a new one.

Is it true that miners are the one responsible for every transactions?
If yes; why didn't the government of China just ban cryptocurrency mining or am I just missing something out?

If there are no transactions or maybe just less than 10 made transaction happened within 24 hours, how will the mining computer work then?, will it just go idle?What if people decided to hodle their coins, will it be unfair for the miners?