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1361  Economy / Economics / Re: BRICS has become eleven countries instead of five. on: September 02, 2023, 04:43:20 AM
This will give additional options, especially for poor countries, to get out of American hegemony, which has become hated by the majority of countries.
What's interesting to point out is that majority of countries that you think are "poor countries" are actually super rich but are kept poor as they are the oppressed. For example look at Africa with different nations that keep making the news these days. They have vast amounts of wealth in form of minerals, energy, precious metals, etc. and at the same time they have the highest level of poverty, illiteracy, etc. simply because their wealth is being stolen by the colonizers!

Movements like BRICS have the potential of changing that.

And the G7 countries are politically more democratically developed,
I strongly disagree because the evidence suggests otherwise. The thing is, these countries have been able to reach a stability over the past couple of decades. In a stable society there is no need for authoritarian rule. But let that stability be disrupted a tiny bit and you'll see their true faces.

Take France for instance. Just recently as soon as the stability was threatened after the French police murdered a child they brought out the military to suppress civilians with martial law where nobody was even allowed to exit their homes! Meanwhile there is a media blackout, social media removes anything remotely related to France and the statistics of how many people the military killed is still not allowed to be made public. And they claim to have freedom of speech.

Besides I always say Democracy is a plague since it is just the modern form of dictatorship. The best example is United States with its primitive constitution and election where the population is only forced to choose between two incompetent men one worse than the other to become the new puppet. While the actual decision are made by the regime which they like to call "deep state" to make it sound like conspiracy theory.
Otherwise a senile old man who doesn't remember who he is half the time is not capable of anything or the previous idiot who was literally stripped of of all his powers according to the chairman of joint chiefs of staff.
1362  Bitcoin / Development & Technical Discussion / Re: Multi-Sig Strategy to Keep Bitcoin is not the Ideal Solutions for Individuals on: September 02, 2023, 04:06:40 AM
I see the point you are trying to make is that multi-sign wallets shouldn't be labelled as not ideal for individuals because of human error. I understand that if I want to set up and use the multi-sig wallet my first step to take is to get educated and learn how to use it the right way and understand the advantages and disadvantages inherent in it. From your reply I understand that using a multi-sig wallet is in tandem with the core principle of decentralization where I and other people have control over their own assets and security.
Exactly. In decentralized system where every user is responsible for their own security, they must first educate themselves. Of course in such a system without a central authority it is up to us (who know a tiny bit more) to provide them with the best and most accurate information to help guide them in their decision making.
1363  Bitcoin / Development & Technical Discussion / Re: Are Taproot addresses less secure than native Segwit? on: September 02, 2023, 04:00:03 AM
I am also a fool and want to ask and this could be more out of topic, so the question is there a possibility to change the current Bitcoin address format and make it easier like happens on Ethereum chain with their ENS system so it can be like dansus021.btc or that gonna possible in layer 2
The Ethereum ENS is a silly nonsense that "maps" human readable strings to actual addresses. It does not change the address format or anything under the hood. In other words it is creating an extra step when making payment since you'll have to first convert that string to an actual address then make the payment.
It doesn't need layer 2, it can be built in a side chain very easily.
1364  Economy / Economics / Re: Stable coin or having USD in bank on: September 01, 2023, 04:37:51 PM
The people  in countries that have high inflation rate prefer to save foreign currencies like United States dollar.
Actually a lot of them prefer gold and other assets including real estate.

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Stable coin was created and most people from these high inflation countries prefer to save stable coins.
That's stupid in my opinion. If the choice is between a centralized shitcoin called stablecoin and the US dollar, the dollar is always the choice without hesitation.
Because for starters these stablecoins are not guaranteed to be stable, they just are stable for now and can get dumped at any time. Additionally they are always centralized or have centralized attributes which makes them terrible. For example Tether can easily be frozen!
That's not true about dollar specially in cash form.

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Or is there other alternative which can be comparable with bitcoin in a way it would be independent and having full control characteristic.
Gold. I personally prefer standard government/bank issued coins. It is independent of bitcoin and also it is speculated to shoot up in 2024.
1365  Economy / Speculation / Re: BTC Sentiment Poll for September on: September 01, 2023, 03:55:35 PM
Time flies. We're already in September. Tongue

We are back to $25k and it is June all over again. There will be dump attempts to break this strong resistance and there is a good chance that they will fail similar to June then we see the breakout back above $30k again.
With the fact that the recent attempt to go up (the failed $28k rise) could mean my theory above is correct so far since with fake dump attempts there will be also these sudden jumps upward as the dump fails.

P.S. What does everyone think about the similarities of bitcoin price with gold in the recent months?
Gold rose in July, stayed up in August and dump started on 8th bottom was 18th.
Bitcoin rose in last week of June and continued in July and stayed up until August 16 and bottom was basically on 18th.
1366  Bitcoin / Bitcoin Discussion / Re: Spot Bitcoin ETF Approval Odds Rise to 75% (Bloomberg) on: September 01, 2023, 01:00:31 PM
If so, I don't think SEC actually had anything to do with it.
SEC is still a government agency not an independent entity, so it should technically follow the same attitude US government has towards companies such as BlackRock. My argument is that this fact will affect their decision regarding approval of the ETF.
1367  Bitcoin / Bitcoin Discussion / Re: Countries where Bitcoin is “banned” on: September 01, 2023, 12:33:56 PM
#Iran - Cryptocurrencies mined outside the country cannot be traded
That makes no sense Cheesy
Whoever came up with this joke had no idea how cryptocurrencies work. There is no such law in Iran and it wouldn't even be possible to enforce it since that would require ridiculously centralized exchanges that store a massive database with a complex blockchain analysis algorithm that can follow the coins that were mined domestically to prevent anything else from being traded LOL

Mining cryptocurrencies in Iran is legal and regulated, you'd need a cheap and easy to get license for mining farms. Trading cryptocurrencies is not really regulated but it is not banned either; there are multiple Iranian exchanges that have been working fine with banks to accept deposit/withdrawals.
1368  Bitcoin / Bitcoin Discussion / Re: Irrefutable evidence that mixers alone are unsuitable for money laundering! on: September 01, 2023, 12:22:23 PM
as for how to remove taint.
I'm curious about what method you have in mind, although I have to say that you are missing one important fact. The fact that there is no such thing as "taint", it is just a fake concept created by those who wanted to regulate centralized services like exchanges and then put pressure on them to regain their full surveillance control.
In other words it doesn't matter what we do to "remove taint", they can just call something else like the block reward tainted!
1369  Bitcoin / Bitcoin Technical Support / Re: I'm just having a little issue trying to sign a message with my Bitcoin address. on: September 01, 2023, 10:52:28 AM
Although I also found this site https://reinproject.org/bitcoin-signature-tool/#sign, which I can use to sign and verify messages, after signing the message and trying to verify it, the Bitcoin wallet address has again changed to the first one from the Ian Coleman site.
You may want to change your wallet and discard your seed since you seem to have entered it into so many online websites so far. When you do things like this, there is a chance that you leak your keys!

As for the website you shared, it doesn't seem to be using a deterministic algorithm to generate the ephemeral key needed for creating an ECDSA signature which could be a source of some possible vulnerabilities. For example if it uses a weak key, after you share the signed message + signature your private key could be leaked.
This is why you should always try to stick to popular wallets that are well tested and reviewed not any random tool you find on the internet.
1370  Bitcoin / Development & Technical Discussion / Re: Multi-Sig Strategy to Keep Bitcoin is not the Ideal Solutions for Individuals on: September 01, 2023, 10:42:37 AM
It seems like topics like this keep coming up every now and then where someone is arguing that a particular method is not suitable, not ideal or outright insecure just because people that are using it may not do it correctly.
For example we've had this argument with regarding paper wallets and the bitcoin wiki is still calling them "obsolete and unsafe" which is wrong.

Everything in Bitcoin has pros and cons, from bitcoin itself with its volatile price to the wallet types we use. For example you can't say "bitcoin core is not an ideal solution for individuals because it takes a long time to sync" just as you can't say "multi-sig is not suitable because it is hard to setup and backup correctly".

Multi-sig wallets have their benefits even for individuals but they obviously require more effort to setup, backup and use. The important thing is for people to learn how to choose the most suitable tool for them and understand how to take advantage of what it offers. If the benefits of multi-sig wallet is what an individual looks for, they will also accept the extra effort that it demands.
1371  Economy / Economics / Re: People keep talking how weak dollar and how bad usa economy getting on: August 31, 2023, 05:38:28 PM
Iran doesn't yet have international coverage or presence like US, Russia or even China.
Actually Iran's presence is in a way much higher and more serious than US, Russia and China but it is of a different nature in comparison.
US presence in different places is either by force (invasion and genocide) or by colonizing, China's presence is always from the economy perspective (with investments, loans, etc), and Russia's presence is usually from resources and military presence to fight their battles abroad (like Wagner in Africa).

Iran's presence on the other hand is first and foremost revival of the ancient relations some of which dates back a thousand years. It is sometimes ideological bonds which Iran seeks to expand and solidify across the globe, sometimes it is just mutual interest like elimination of extremism and terrorism, to build infrastructure, etc. But in all cases it is kept out of the news for many reasons which would be off-topic here.

It is everywhere too. For example Iran has an active and large scale presence in USA background, ie. Latin America specially since Iran is a successful and kind of the leader of Anti-Imperialism in the world.
Same in Africa, as the successful case of Anti-Colonialism and Anti-Extremism and Anti-Terrorism there is a lot of mutual interests between Iran and Africa as a whole not to mention the decades of experience that Iran is relaying to them. This is why for the past couple of decades Iran has been helping many African nations deal with US backed terrorist organizations like Da'esh.
And of course in Asia from West which is where Iran is located itself and has the most dominance and allies to the East and South. For example one thing you won't find in the news is how Sri Lanka got rid of its decade long fight with insurgencies of the separatist militia with the help of Iran.
1372  Bitcoin / Wallet software / Re: Cold Wallet Myth on: August 31, 2023, 04:47:04 PM
Look here, you said "potential vulnerabilities". if we are sure that there are no vulnerabilities in the system, then we can connect to the internet.
The problem is that you can never be sure about that, in fact the whole point of using an air-gap computer is to effectively eliminate a large number of potential vulnerabilities that may not even be known to us. So by taking that simple step we try to significantly improve our security.
The real question is why would you want to take that risk and connect to the internet?
1373  Economy / Economics / Re: People keep talking how weak dollar and how bad usa economy getting on: August 31, 2023, 04:19:59 PM
Before the Russia invasion in Ukraine, years before that, the French President Macron warned that European nations must have another leader and must get rid of their dependence on the USA. It is an early signal of European nations that want to have dedollarisation before the pandemic.

The pandemic, economic crisis, the Ukraine war only trigger this delloarisation process happens more seriously.
Something interesting to ponder is that dedollarisation can be a bigger threat to Europe than to United States. As the dedollarisation grows, all these printed dollars in global circulation would have to go back to their origin (USA) but that would cause hyper ultra inflation in United States. However, there's is this law that would be enforced to prevent those dollars from coming back to keep the US inflation "exported". In a world where Europe is left dollarised, EU will have to bear that inflation.

This is exactly why a lot of politicians in Europe have been warning about staying "close" to US as the sinking ship. Macron is only one of them.
This reminds of a quote assigned to Henry Kissinger: "To be an enemy of America can be dangerous, but to be a friend is fatal."

Concerning Iran; come on, you're attributing superpower status based on one economic quarter? standing
Well, yes and no.
- No because economy alone is not what makes a country "super power". There are a lot of different factors involving geopolitical presence and effect, geography, infrastructures, resources, military, "reach", international allies, population, etc. and even when it comes to economy you can't just analyze it based on one factor like inflation or GDP growth. Even each of these factors alone can not be analyzed based on raw numbers and one-liner twitter like comments.
- Yes because if we only focus on economy, the past year is an excellent indication of the massive potential of growth Iran's economy has and the extremely ready infrastructure like ready to use factories and production lines that used to work at a tiny portion of their capacity, top quality products in many fields including high tech that can easily eliminate their foreign counterparts and most importantly ultra cheap production cost which helps that elimination in the competitive global scene. This past year Iran has been heavily dedollarising by the way.
1374  Bitcoin / Bitcoin Discussion / Re: Irrefutable evidence that mixers alone are unsuitable for money laundering! on: August 31, 2023, 10:12:31 AM
One thing that people who argue against mixers with the logic involving "money laundering" always forget is that it is not enough to obfuscate the coin's origin, when laundering money one has to be able to explain how they got the excess money not particularly from where.

For example someone who is barely living hand to mouth on a £2k salary in UK can not suddenly come to a million dollar worth of bitcoin out of nowhere! It doesn't matter even if they swap their "dirty" coins with "virgin" coins (fresh block reward) as long as they are not capable of explaining where they got that million bucks from.

In real money laundering, the criminal would come up with a contract with an actual business (like a laundromat!) to launder their money through their business by "cooking the books". For example the business that in reality has barely £500 income would report its income as £3k, £2.5k of which being the dirty money hence "cleaning" it every month.

This means even if a criminal wanted to launder their cryptocurrency, they'd use exchanges not mixers (ignoring the KYC issues in exchanges) so that they can fake it as their "profit" whereas mixers are useless for laundering.
1375  Bitcoin / Bitcoin Discussion / Re: Spot Bitcoin ETF Approval Odds Rise to 75% (Bloomberg) on: August 31, 2023, 08:01:00 AM
Blackrock only had one ETF rejected ever, out of almost 600.
The situation I was referring to is not bitcoin related. It is the battle this investment management company has with the US government over their "freedom of investment".
To put simply BlackRock wants to take their money (about $15 trillion if we count msci) to more solid economies such as China and US regime doesn't want to allow that because that would be the end of dollar hegemony and US economy.
The battle is that whenever BlackRock talks to any Chinese company, US government immediately and out of nowhere places that company in their terrorist list to prevent BlackRock from taking their money out of US!

So much for Economic Liberalism Cheesy

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It is usually not the ETF approval itself that causes the price spikes and bull runs but all the lemming traders on exchanges who decide: "Hey, this is my big day to get rich!", open a few long positions and buy some extra bitcoins, wait for everyone to copy them, and then close the positions once they hit profit and the brakes are slammed on the ETF craze.
That's true.
1376  Economy / Economics / Re: BRICS has become eleven countries instead of five. on: August 31, 2023, 06:10:47 AM
The United Arab Emirates found itself for the first time in an alliance with its neighbor Iran, despite the dispute between them, as well as the Kingdom of Saudi Arabia.
It is in no way an alliance. It is more like a mutual interest that has gotten Iran and Saudi Arabia (UAE is similar) closer same with the rest, otherwise this particular conflict dates back to one or two thousand years ago.

Basically after WWII countries came together to give power to the regime in Washington. Now that the regime has proven to be abusive of that power, once again the world is coming together to take that power away. That's the mutual interest.

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In fact, we do not know what criteria were agreed upon to choose to invite any of the countries, except that the process was in the form of suggestions from the first members, and not based on requests to join.
It is both, meaning all these countries did in fact request to join and also the original members want them to join.

Take Saudi Arabia for example. Obviously BRICS wants an oil rich country that is literary THE definition of petrodollar to join a dedollarisation movement and on the other hand the Saudi regime wants to join BRICS to gain more independence and be able to start investing in Arabia's infrastructure and industry (instead of handing over all their money to US weapons factories to purchase garbage), something United States never allowed to happen (eg. building its first nuclear power plant).

This is why Saudi has been lobbying behind the scenes with both Russia and China to get the invitation.
1377  Bitcoin / Bitcoin Discussion / Re: Spot Bitcoin ETF Approval Odds Rise to 75% (Bloomberg) on: August 31, 2023, 05:55:32 AM
They will approve Blackrock to run it but it really should be grayscale that gets the chance to convert their trust into an ETF. I do wonder what Blackrock etf will look like though....
With the battle Blackrock has with the US government these days, SEC may reject theirs specifically and approve anything else if they were to approve any bitcoin spot ETF.

In any case, the only thing I wonder is the effect that the approval of an ETF in USA could have on the bitcoin price, otherwise it is ETF after all and that is not the way we want bitcoin to be adopted... so it isn't really something we want to be excited about.
1378  Bitcoin / Bitcoin Technical Support / Re: What are witness and signscript used for? on: August 31, 2023, 05:45:45 AM
How do I make a new wallet?
First your choose a wallet then you install that and follow the on-screen instructions. I suggest Electrum.

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What makes a signscript and witness different in a transaction, and what are they used  for? What will I be using them for if I want to use bitcoin and other cryptocurrencies that call for a signscript and a witness?
You don't need to know any of that to use bitcoin, the wallet takes care of it under the hood.

If you want to gain extra knowledge; bitcoin transactions contain smart contracts that act similar to locks and keys. Each transaction contains outputs that contain the "locking script" also known as scriptpub to spend these outputs you need to provide the "unlocking script" that for legacy transactions is placed in "scriptsig" and for SegWit transactions it is placed in "witness" part of the transaction.
Execution of these two parts together will automatically determine if you can spend those coins or not.
1379  Bitcoin / Electrum / Re: Mining fees as popularity of bitcoin rises on: August 31, 2023, 05:24:20 AM
By default, electrum tries to minimize the transaction fee with the limitation that if there are multiple UTXOs in the same address, it either uses all of them or none of them.
Nope, Electrum uses random addresses to maximize your privacy if UTXOs are in different addresses that is the case with OP if I am not wrong which is the default behaviour in Electrum.
You are right that electrum tries to maximize the privacy, but what do you mean by random?

Let's say you have two UTXOs. One of them is worth 0.02 BTC and the other one is worth 0.03 BTC and they have received in different addresses. Now you want to spend 0.01 BTC without using coin control feature. Are you saying both of your UTXOs have the chance to be used by electrum? If so, no. That's not how electrum select UTXOs.
The coin selection in Electrum is both deterministic and random but with some conditions.
You have to look at the source code for the details but generally speaking Electrum creates "buckets" from your UTXOs from each address and tries to deterministically choose a "bucket" that can produce the best transaction that has the amount you want to pay and produces less blockchain bloat.
1380  Economy / Economics / Re: BRICS has become eleven countries instead of five. on: August 30, 2023, 06:31:47 PM
Although in my eyes BRIC is a poor people's club.
LOL majority of resources are now in the hands of BRICS countries. In energy alone, now 80% belongs to BRICS countries, if you think that's "poor people's club" then review the 70's and how the crazy Arabs sanctioned the West and burnt Europe's economy to the ground.

In reality BRICS ist not about de-dollarization but about avoiding being sanctioned.
That's the same exact thing! How do you think US sanctions other countries, with sticks and stones?

In the Old World Order where countries used to use US dollar for all their trades, when US wanted to sanction a country they simply stole all their dollars by blocking them in the SWIFT system and in their banks. In the New World Order where dollar is used less and less every day, US has decreasing capability to sanction others and is only isolating itself.
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