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1661  Economy / Economics / Re: Dedollarization is here, like it or not on: May 31, 2023, 10:35:40 AM
Lol. You guys used to get on well with each other, right?  Grin

Not really, but it went all south when those stupid Americans with their stupid garbage American weapons that can't hit a thing turned the former leader of ISIS, my bad IRCG, (same shit) into kotlet. Then it went around the globe and further south when instead of downing a F35 as they claimed it turned the next day they hit a civilian plane with their mighty weapons. Since I made fun of him over and over he ended up ignoring me!

But I like to think of it as Yin and Yang.
He comes with the propaganda, I come with facts and debunk it.
He spills venom right and left about Europeans dying of hunger, cold, thirst and raccoon bites, I came with positivity.  Grin
Isn't life fun? Of course, not if you're executed if you wear jeans in a public place!  Grin

Regarding the subject in question, it is true that we hear a lot more nowadays of various countries proposing an alternative to the dollar and even starting to make some trades with alternative currencies. To what extent they may succeed remains to be seen.

The weird part is that I don't see the change right here, exactly by the same people claiming the dollar is dead, I mean everyone is in:
Quote
Signature Campaign > Up to $x/week
Isn't weird to hate the dollar, despise it but still agree to get paid by its value?  Grin
There is propaganda, and there is reality!

1662  Bitcoin / Mining / Re: Marathon CEO Responds to Why the Miner Tax Plan Won’t Work on: May 30, 2023, 01:23:35 PM
They have to release financial statements but what has that to do with what was said above?

Everything!

There is a small, post-soviet union country called Georgia. In 2015, this country made a deal with BitFury and exclusively for them, they created a free zone that lets Bitfury to avoid corporate taxes, VAT, import taxes and other fees. Georgian guys were working near to my house in Germany, doing some road-related stuff and we had some small talk in Russian (yes, I speak it too). They told me that this is a poor country where salaries are super low, food is expensive, etc and they have to work in western countries to feed their families in their homeland. They told me that this country is unofficially run by a billionaire and so on.
Now, my question is, think about it, why did they create a tax-heaven for BitFury? And keep in mind that BitFury uses around 9% of the country's electricity. And even keep in mind that this country imports electricity because their own isn't enough for people.
C'mon man, don't you really think that BitFury doesn't share profit with people in government?

Nice story, so in conclusion:
- Georgia gives cheap energy 9% of the total to Bitfury
- you have neighbors who have fled the country because of super low salaries

How the f-word did having miners in the country helped the economy, that's what I am asking you!!!!
For three messages in a row, you told me how beneficial for the economy having miners is and you still are unable to give me an example of it, furthermore going full contrarian and showing me an example of how setting mining farms in a country doesn't change shit in the national economy!

So, which one is it?
1663  Economy / Scam Accusations / Re: Is Happyminer real? on: May 30, 2023, 12:59:05 PM
but this site am given looks good.

Looks good? Seriously, that's your criteria?  Shocked


I don't know who that guy is but if after spending 5 minutes on that website he can't smell a scam he must quit whatever he's doing!

Quote
When you sign up, you get $10 immediately. You can use it to buy the Primary Mining package daily, and you will get $0.80 daily. When you reach $100, you can withdraw it all.

0.80 daily is 10TH/s before power, to offer that for 10$ when the cheapest gear would cost you 11$ per TH, that's $110 upfront before electricity, hosting cost, labour cost means it's a scam!

1.5% daily means 45% a month, in order to pay that you would a miracle!
If I would invest $1000 I would get $450, how could it be possible for them to make a penny after giving you that much?

I just check the reviews at trust pilot and i could see the rating of 4.0 (There were total 101 reviews).

https://www.trustpilot.com/review/happyminer.us

One of the reviewers is quite funny!
https://www.trustpilot.com/users/62a0a058871da7001461fa2e
The guy got scammed by 4 ponzi schemes before and now he's trusting this scam. Triple facepalm.



1664  Bitcoin / Mining / Re: Marathon CEO Responds to Why the Miner Tax Plan Won’t Work on: May 30, 2023, 12:43:43 PM
I know all of that is a disaster but governments of small countries will do it because they'll get some big profit from these mining companies. It's simple, honest workers and tax-payers generate income for government, government subsidizes energy and taxes for mining companies and will explain their people that it's done for good to attract businessmen and innovations, bla bla bla, and then I hope you understand what's next.

Ok, nearly all of them Marathon, Riot, HUT8 or Hive are listed companies, they all have to release financial statements, now, out of curiosity, can you please tell me since you're so sure about it, how much those companies paid in taxes, last year for example?
As for subsidized energy we have already seen it in action so we know how "beneficial" that is!
1665  Economy / Economics / Re: Dedollarization is here, like it or not on: May 30, 2023, 12:36:53 PM
This is yet another forum thread about dedollarization(which doesn't add anything new to the discussion). Grin


Yeah, because desperation is here!

In case somebody is still wondering why OP is so full of hate against the us dollar, let me show you two pics to clear the confusion:
This is how depolarization and the fall of the dollar looks from Iran, Op's country:



From 3700 rial for a dollar to 51000 in 6 years.

Gdp per capita in 6 years of sanctions:




120th in the world by GDP, basically the poorest of the poor, a country with more gas that the whole world but which must burn mazut to power up the electricity grid while shutting schools to not kill everyone from pollution, a country that can't even pay for basic food imports unless the seller takes payments in oil.

This is what dollarization and stupid basij propaganda look like in reality, poverty, poverty and poverty!
1666  Economy / Economics / Re: My wealth plan for next 3 years on: May 30, 2023, 12:25:46 PM
Im expecting AIDOGE to hit 1$ price in 1,5 years look the price now i'll have more then 10000x profit by then.
Aidoge i see could be one of the best perfoming asset in 1 year.
And gold btc silver will perform well in the lower rates time from the fed and other central banks becouse rates will go lower very soon in few months and then cheap assets like aidoge Will make many people super wealthy.
So that's going to be more than a quadrillion in market capitalization with what you're aiming for?.

Actually, more like 210 quadrillions! So:
-2000 times more than the world GDP
-500 times the global wealth
- if distributed equally would mean $26 million for each human in the world
- the total market cap would be 380 000 times that of Bitcoin now.

Improbable? That is a soft word for this fantasy!

USDC are future becouse they Will give REPO rights for USDC,u see it takes education and knowledge to know what does it Even means.
And Also they now test ATM s with Stablecoins so in the future commercial banks not needed. Your bank is your wallet or crypto exchangers the world is changing you either go with changes or stay in the old but i rather choose new becouse old ways not working anymore it's time to learn and go with flow no reason to fight against.

Yeah, and unfortunately instead of education and knowledge you've focused on meme coins!
The moment you claim stable coin ATMs would replace commercial banks, it's clear you have no idea what you're talking about!


1667  Bitcoin / Mining / Re: Marathon CEO Responds to Why the Miner Tax Plan Won’t Work on: May 30, 2023, 11:58:03 AM
Okay, don't they think that there are other countries who offer better electricity price and tax-free mining zones? Yes, there are and if they actually release that tax law, they'll clearly see that the number of such countries will increase, there are developing countries that are willing to offer low taxes, cheap electricity and cheap labor to these business owners.

Why would they unless they have excess capacity?
Cheap taxes, subsidized energy, low-paid workforce is a receipt of disaster, look at Kazachstan! 10% of the global hash rate and 7 million in taxes.

Companies can register their businesses in offshores and pay less taxes, taxes just make it super hard for average person to start a business.

And you as government would you want to deal with this kind of company? No!
You make arguments on what the government should do but you only analyze things from the bitcoin holder perspective.

Alas, BTC folks put themselves in big trouble when they compare how much other industries consume to BTC, if that's your only excuse, what happens next if it's no longer valid?

Crickets!
https://cointelegraph.com/news/banking-system-consumes-two-times-more-energy-than-bitcoin-research

Quote
Compiled by Galaxy’s mining arm, the study estimates Bitcoin’s annual electricity consumption to stand at 113.89 terawatts per hour, including energy for miner demand, miner power consumption, pool power consumption and node power consumption. Given Galaxy’s estimations of power usage by banking data centers, bank branches, ATMs and card networks’ data centers, the total annual energy consumption of the banking system is estimated to be 263.72 TWh globally.

Estimates reached 275 TWh
https://bitcoinminingcouncil.com/wp-content/uploads/2023/01/BMC-Q4-2022-Presentation.pdf
Well, let's stop comparing banks and compare with construction or freight transport because that makes sense!

Plain stupid as far as I am concerned, so now that green b.s out of the way, let's talk "economy".
Demand for energy is great for the economy, show me one economy that prospered without increasing demand for energy, or a country that has reduced its power consumption by a large portion without shrinking its economy and I will change my mind.

While I agree with the stupid greenwashing of everything and how ridiculous the situation is there are two cases when energy consumption is dropping or keeps being nearly the same and still the country grows
- heavily industrialized countries that have no room to build more but build more efficiently,
Germany was using 5800 kWh per capita in 1980, and is using 6700 now, but the GDP per capita went up 5x times
- former communist countries that were building crap while wasting resources
Romania was using 2800 kWh per capita, is down to 2400 kwh but the GDP per capita went up 10x

But in both cases, you must have either something very inefficient to begin with or tons of money to improve it, from scratch, it is impossible.
1668  Alternate cryptocurrencies / Altcoin Discussion / Re: Token/Coins pegged to real goods - Negative prices on: May 29, 2023, 06:15:26 PM
Thanks stompix for this information this is new to me. Question so if this happens on the market with negative prices what gonna happen, is it possible the minus value even bigger than your showed images?

Possible, yes! Likely and often, no!
It all comes down to the cost of buying this, the cost of disposing of it or storing it, and so on, the freight tax, the port tax, a huge mess of costs that basically dictates how long it can go, but it will never go way below this as at one point it makes sense buying something that costs 20$ to store or throw away for -30$.
I don't know besides commodities with closing contract dates how this work, like in electricity trading but it must be nearly the same, the highest downward spike I've seen was around -100euros/Mwh so probably that is the limit.
1669  Bitcoin / Project Development / Re: always updated bitcoin fees image from mempool.space on: May 29, 2023, 06:00:51 PM
As it seems, mempool.space isn't very reliable in calculating of fees. Yesterday, I checked this image data and chose a halfHourFee for my transaction. Usually, when I make a transaction, I always put tx id in mempool.space to know how long it takes for my tx to get confirmed. It got confirmed in some minutes and then mempool.space shows me an yellow frame, next to fee rates where it says: Overpaid 2x. Then I checked and I really overpaid because much lower fee was necessary to get my transaction into that block. I don't really know anymore how it calculates the fee, there was a difference of 2 satoshis between the Low priority and Medium priority fees.

Unless you want to share the tx there can be only speculations but from my own experience:
I paid near the minimum next block fee as it was a bit of a priority to get it confirmed, there was a small dump before the next block that pushed my tx outside of it but the second block was mined just a minute after so my tx was in the top paying ones and some with just 1/2 got confirmed also.
So technically I paid twice as much, but in any other situation, I would have paid the minimum.
Since you mentioned only a 2sat/b difference this must have happened just like in my case, in the low fees era, so, not applicable anymore right now.

The truth is that there is no reliable source of fee prediction, because no one really knows when the next block will be mined.
It may takes 10minutes, or 10 seconds or just 40 minutes.

On top of that, nobody knows the incoming transactions rates, you can have a normal time with just the average 2-15tx/s or you can have somebody dumping 5000 in one go as Binance did a few months ago and this will ruin every single prediction made in the last hour, turning next block transactions into next day priority.


1670  Economy / Economics / Re: My wealth plan for next 3 years on: May 29, 2023, 04:23:49 PM
Off course also i'll buy AIDOGE coin becouse 1000x i will make with this coin after 2 years.

Yeah right!
Do you really think anyone will take you seriously when after saying you have 3-year plan and talking about buying gold and silver you mentioned a ...coin..that has already lost 75% since the launch? And for sure you're going to make x1000 in 2 years? Have you ever looked at the lifetime of hype coins? Two years is like 6 generations of hype shitcoins!

But let's see this, put the money where your mouth is and show us how you bought $1k worth of aidoge!

And off course after one year i start buying by DCA USDC becouse USDC gona be world reserve currency so off course i'll invest in this early.

Change the pharmacy, it might be dealing is some really weird meds and drugs!
Why the hell would you invest in a coin that is pegged to the value of USD when you said it yourself that the value of a $ will go down?

 
1671  Other / Beginners & Help / Re: I am Never going to Leave this Forum no Matter What on: May 29, 2023, 04:11:49 PM
I read about a user I think the name is Lauda who left the forum some time ago.

Weird that you mentioned Lauda and not Satoshi!

The other interesting thing is that you are so sure of not leaving the forum, nobody can be sure about that, nobody is immortal, nobody is immune to everything, and most important not even a forum can be eternal. Might sound a bit rude but you know, rather than telling people you're not going to leave it should be the other way around, users telling you not to quit or missing you when you do it.



Not only Lauda, many other members left the forum after the massive spam endemic in this forum as consequence of ICO wave in 2017 - 2018, or as consequence of personal attacks like TMAN, or they passed away like Zepher, TECHSHARE, ...

There were many more, Gavin Andresen, Hal Finney, Mike Hearn, monbux, Vod, MagicalTux (lol), Blazed even Buterin had an account here
1672  Other / Meta / Re: DdmrDdmr is surprising for meriting posts on: May 29, 2023, 03:47:43 PM
The way he (DdmrDdmr) responses to post as comments and post does not look a robot as for your thinking. He responses according to the thread but if it was a robot it would have done some out of point comments which doesn't look the same way with the original thread or comment. But he makes comments accurately.

Huge difference between posting using a bot and meriting somebody using a bot.
And I have to say this, packing it as politely as I can, but if you ever thought for a second DdmrDdmr is using a bot to make his posts you really need to stop kidding around. Seriously!

You're right, the user makes use of a bot to merit posts he likes. However, what's not clear (even to me) is why he merits all posts the same amount. Does it mean all the posts DdmrDdmr comes across and wants to merit are of the same quality as the user only splashes just a single merit on them. I think it's not a good way to merit posts. They should set different meriting threshold for posts. There are posts that deserve more than a single merit. That's what I'm saying.

Users that make posts worth more than one merit will make more of them, each will get 1 merit and in the end, they will still end with more merit than a guy who only has one post in his entire history merit worthy.
I don't know why after all these years with the merit system we still have discussions focused on how people are spending merits, Theymos was as clear as possible on this issue, and if you have even then a problem with it, apply to be a merit source, earn more merit and restore the balance you think is broken by his merit spending habits.

I don't get it, every single topic we talk about is how privacy is important but one single thing and we try to find everything about a person and why he does this and that and who he is and what he does when he isn't doing this.
His account, his merits, his decision! /end


1673  Economy / Reputation / Re: Feedback that are fun to read (collection) on: May 29, 2023, 03:32:25 PM
Observation/Comment: A neutral feedback was revised and replaced with another feedback for a post made on a thread 😁.

I laughed.
Not about the feedback mentioned but about the fact somebody finds it funny.

Check it back after few weeks once I bump it. For now please forget about what's in the subject and description.

Then, outrageous idea but how about you lock this until you have something that is actually funny?
But before doing this, can you actually tell me why is the feedback JG sent funny and not the ones he received?
I mean:
Quote
  • hater account he don't understand what he do , i think if he ownest will not try to hurt others but sure you are fail in be developer may be so keep on posting may be collect some money
  • WARNING is a SCAMMER! Many the positive feedback he has from scammers harming Earths and universal base income program.
  • kids a faggot posts useless shit

Oh, and before you go there, it's an old story and everyone knows it, even Satoshi:
Quote
Alt of stompix. Trolling and abusing his "status"
1674  Bitcoin / Bitcoin Discussion / Re: The time has come to earn Bitcoin from a Youtube channel on: May 29, 2023, 03:13:12 PM
I'm aware that there is a lot of educational stuff about Bitcoin, but most of it is a load of claptrap imho. That includes some from people who purport to be senior specialists.

I would definitely support if more people who run a yt channel would keep talking about technical aspects and advantages of Bitcoin rather than the same clickbaitish sensationalist crap which unfortunately is also the content this generation seems to favor more.

On top of that, I would love to see you doing this, not only because you are one of the old-time maxis but it would also send a message, look, even seniors can fully understand what others think it's a complex and impossible to master for the average Joe, so it might convince a ton of no sayers that this ain't some thin that needs a college diploma or some millennial vaporware fad.
The only downside is that you will need a bit of promotion to take things off the ground, things that are more flashy, and so on but I think you can do it even without exaggerating, so, give it a try! You have one subscriber for sure here!

Oh, and earning in BTC, no, you're going to earn £ and exchange that for BTC, no other way around.

1675  Bitcoin / Bitcoin Discussion / Re: 51% attack on Bitcoin on: May 29, 2023, 02:34:14 PM
Exactly what I was thinking when people discuss the cost of a 51% attack on Bitcoin for an hour. However, technically they are somewhat correct, as it seems the available hash rate isn't "freely" available to hire. At least from NiceHash-able (that supplies hashing power) there is not even 1% available. As unsurprisingly there isn't 400 EH/s available to rent, as that is a shitload of hash rate.

As you said you wouldn't be able to bribe mining pools, as they have an interest in the network not getting attacked in such a manner. So trying to convince numerous mining farms to rent you hash power seems like a long-shot to me. At least if a fair rent cost per hour is around $1.3m, then I think it could be up to twice as much in order to convince mining farms to rent you power.

Well, first my bad at saying 0.1 based on a website that monitors it, if we look at the actual marketplace, yes they do have around 1%, or 3 exas.

Now, there is a trick to this, don't know why I mentioned it first since it was the most important and adding more to Phil's hint at hijacking being the easy way out,  if you rent hashrate from nicehash, it doesn't mean automatically you're free to do anything you want with it, Nicehash for example,has  a policy with limited mining pools to which you can point that, so you will need to either get Nicehash to approve your malicious pool or bribe the pool to which you point this.

So no f#$% way would a big player like mara or core or riot allow you to rent this and point to your pool at Iwannahackbitoin.cheap  Grin
They will rent it to you at a 10% surcharge but only if you mine at either foundry or maybe one or two trustable alternatives.

Don't take my last sentences too seriously, my point is, if you don't have others private keys, you can't move/steal others coins, regardless of your hashpower in possession.

Did I miss something?

Yeah, imagine that 10 blocks with like the last block mined that had 7,897.78BTC worth of transactions so around 200 mils, gets invalidated so 2 billion worth of payments deposits, and withdraws suddenly are nulled or are spent differently, multiply this by a bigger timeframe of around 24h and see who will use bitcoin for anything after such an event or how much trust would anyone put in it.

Some are too focused on the aspect of investment where you just buy and hodl and forget that for it to actually have value you need to usage, and this would be sent in a coma if someone would really manage to get such an attack going for a longer period of time, not 1h no 4 h but something in the days value. Highly unlikely but it won't be a walk in the park if it does happen.

even if you could afford the staggering price tag, attempting a 51% attack would be like trying to rob a bank with everyone watching.

No, it's like robbing a bank with a tank and the only guard watching is a guy in the 90s in a wheelchair and armed with a squirt gun.
Since you mentioned this, si a pool does a 51% , you, like the other guys watching, what are you going to do to stop them?
Genuinely curious!
1676  Economy / Scam Accusations / Re: Doing scam for Using AI Tool in Signature Campaign on: May 29, 2023, 01:26:57 PM
Nobody really cares even in this forum if you're using AI to create your posts as long as you're not wearing a sig and you don't get paid for copy pasting answers,

It's surprising that you say that when you yourself have participated in a thread about the subject where people does not distinguish whether AI users wear a paid signature or not.

Yeah, and I stand by my opinion:
- copy pasting questions or topic titles into and from chatGPT brings nothing important to the discussion
- instead of doing so the user could simply say, ask chatGPT, just like those links with letmegooglethis for you
- trying to brag about how you asked the question to reveal some hidden secrets is just silly
- I can't really see much difference between this and plagiarism.

Copy-pasting an answer from Quora is plagiarism, copy-pasting from an AI that learned the answers scanning Quora should be....? Grin

But, I still stand on the other too, nobody will be doing anything soon as long as money is not involved, plagiarism enforcement is down the drain with accounts getting caught and nothing getting done for weeks, so, even if one or two mods are thinking like this, overall the absolute majority just gave up.

I don't see a distinction there as to whether the AI user wears a paid signature or not.

And there shouldn't be, but again...
1677  Economy / Economics / Re: South Africa in trouble. on: May 28, 2023, 04:58:07 PM
South Africa on the other end, stayed neutral and they are talking to both countries to establish some grounds for peace talks. You can go in with all guns blazing like the Americans or you can simply extend your hand and get a political solution for the war, like the South Africans are doing.  Wink

If you would be curious to find out how apartheid ended you might have a shock to learn that a huge influence in this was caused by US and western companies boycotting everything from RSA and retreating from the country basically threatening the whole economy.

So, if you were an oppressed South African you would see the whole thing different.

Assuming this news was to be true and South Africa did get sanctioned, South Africa shouldn't have been in trouble because they're or one of the strongest economy in Africa and they control Africa.

What's the name of the fantasy world where this things you mention are true?
An economy the size of Romania, 90th place by GDP per capita in the world and so reliant on trade that the first thing will trigger a meltdown, strongest economy in Africa and an electricity crisis for 15  years are just not compatible.


1678  Economy / Scam Accusations / Re: Doing scam for Using AI Tool in Signature Campaign on: May 28, 2023, 04:46:08 PM
The debate reminds me of the people you would still meet years ago who refused to have cell phones because they said the powerful would have us monitored and such.

But you're still not allowed to talk at your cellphone while driving a card without having a hands free device and there are plenty of places that ask you to turn it off.
Nobody really cares even in this forum if you're using AI to create your posts as long as you're not wearing a sig and you don't get paid for copy pasting answers, but in this case he did it for money and in a campaign that openly prohibits that, so yeah, it's quite close to being tag worthy.
1679  Bitcoin / Mining / Re: Miners Should Consider the Lower Transaction Fees on: May 28, 2023, 04:21:37 PM
Miners should definitely consider the lower transaction fees when it comes to cryptocurrency mining.

No, they shouldn't unless you want competition from cheap spam

However, it's important to consider the broader context. Lower transaction fees can lead to increased transaction volume and adoption of the cryptocurrency, which can result in higher demand for mining services. Additionally, low fees can attract more users to use the cryptocurrency for various transactions, potentially driving up its value. Therefore, miners need to assess the balance between transaction fees and the potential benefits of increased adoption and network growth in order to make informed decisions about their mining operations.

Yeah, nice in theory, so damn bad in practice.
You say that low fees will drive adoption but there a few problems with it, if adoption means more transactions it means more transactions in the mempool, it means longer periods you have to wait for your tx.
The miners will not benefit a dime from it since even with mass adoption and billions in fees they will still be forced to include low fee tx, so they will earn still less than they would now by accepting high transaction fees.

I'm quite surprised to see that there are some who hint at thinking that imposing a flat fee of 1 or 5 sat/b might be a solution and suddenly the laws of mathematics will change and everyone will get their tx. No, it won't mean that,  it will only mean that if a larger tumbler or exchanger will drop a shitload of transactions for 2, 4, 12 hours the network will be paralyzed and nobody will be able to get a tx no matter how much they are willing to pay. And this is just setting the stage for the cheapest and dumbest 100℅ chances of success spam attack.
1680  Bitcoin / Bitcoin Discussion / Re: 51% attack on Bitcoin on: May 28, 2023, 03:56:17 PM
Fixed typos

Yes, I found my error and fixed it.
I don't know if there would be enough renting sites (actual hardware) enough to run such attack! I think Phil's approach of hijacking the 2 major pools would make more sense!

There are none, even that links that "calculates" the cost is showing only 110petahash available for rent, that's more like  0.1% rather than 51%.

Basically three possibilities to achieve that:
- you buy/build it, and the costs are in billions as per above
- you rent it, but three is nobody renting you that much
- you steal it, as in hijacking a pool or bribing some operator

But all are expensive, they require industry connections, and they all end with the same question, why put all the effort for it? A nation would just take legislative measures, a terrorist group has nothing to earn, other groups are interested in making money not spending money, so just some bored kid who has by chance manage to infect some servers of mining pools but that's quite the stretch.

We are already in 2023 mate, and no one has talking about this because it's impossible to do right now. It will take a lot of resource on the entity that will try to do this. And you have to think what incentives they got for spending that huge amount of money, billions upon billions and then what? after that the nodes will be back to the chain itself.

It's not impossible, yes as I also said the money spending doesn't make sense but it's not impossible. As for the nodes, no, the nodes will not be back to the chain because that would break the rule, they have to follow the chain with the most work, in this care the malicious one.



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