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Spy Bee

Bitcoin and other Crypto...

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On 18/12/2021 at 07:11, Boss said:

Bitcoin has dropped £10,000 in a month. What do you think the bottom is?

It’s been sliding away since it’s all time high, with the exception of this current slight rally of 50,000 support/resistance. I think we’ll continue to see sideways movement as the short term scalpers send it up and down. Personally I’m expecting a larger drop at some point in the new year. I got out at 60,000 and don’t want back in until it is halved, at least. However, doubling my holdings could be pie in the sky.

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I don't think it was Elon, to be honest. He was staying up night and day to try to save Tesla from bankruptcy at the time. Satoshi was someone on the Cypherpunk mailing list. This is a good read about the Cypherpunk mailing list and the origins of Bitcoin. 

 

 

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8 minutes ago, Boss said:

I don't think it was Elon, to be honest. He was staying up night and day to try to save Tesla from bankruptcy at the time. Satoshi was someone on the Cypherpunk mailing list. This is a good read about the Cypherpunk mailing list and the origins of Bitcoin. 

 

 

Musk was never staying up day and night trying to save Tesla from bankruptcy - they raised almost a billion dollars in 2009-10.

 

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7 minutes ago, TheHowieLama said:

Musk was never staying up day and night trying to save Tesla from bankruptcy - they raised almost a billion dollars in 2009-10.

 

 

October 2008 the white paper came out.

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22 hours ago, Boss said:

I don't think it was Elon, to be honest. He was staying up night and day to try to save Tesla from bankruptcy at the time. Satoshi was someone on the Cypherpunk mailing list. This is a good read about the Cypherpunk mailing list and the origins of Bitcoin. 

 

 

List:       cypherpunks
Subject:    Re: ecash means anonymous & untraceable (Re: Will this replace banking
From:       Anonymous <nobody () replay ! com>
Date:       1999-09-19 20:43:05
[Download RAW message or body]

>I wouldn't say ecash has to use blinding, but I would argue it would
>be a misuse of the word "ecash", if something which was revocable were
>dubbed ecash.
>
>With that definition it is not technically possible to implement
>electronic cash at all without tamper resistant hardware, because
>reliance on a mint, or double spend database means your "cash" can
>become worthless over night if someone (say a government) decides to
>switch off a computer (the one holding the double spending database).

There are soem alternatives which would come closer to this definition.

One possibility is to make the double-spending database public.  Whenever
someone receives a coin they broadcast its value.  The DB operates in
parallel across a large number of servers so it is intractable to shut
it down.

The greater danger is that the mint would be taken over and forced to
behave badly, say by issuing too many coins.  This would degrade the
money and make it worthless.

Another possible form of ecash could be based on Wei Dai's b-money.
This is like hashcash, something which represents a measureable amount of
computational work to produce.  It therefore can't be forged.  This could
be a very robust payment system and is worth pursuing further.

Wei Dai (Chinese: 戴维) is a computer engineer known for contributions to cryptography and cryptocurrencies. ... He developed the Crypto++ cryptographic library, created the b-money cryptocurrency system, and co-proposed the VMAC message authentication algorithm.

 

https://news.bitcoin.com/many-facts-wei-dai-being-satoshi/

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On 29/12/2021 at 18:19, Red Shift said:

List:       cypherpunks
Subject:    Re: ecash means anonymous & untraceable (Re: Will this replace banking
From:       Anonymous <nobody () replay ! com>
Date:       1999-09-19 20:43:05
[Download RAW message or body]

>I wouldn't say ecash has to use blinding, but I would argue it would
>be a misuse of the word "ecash", if something which was revocable were
>dubbed ecash.
>
>With that definition it is not technically possible to implement
>electronic cash at all without tamper resistant hardware, because
>reliance on a mint, or double spend database means your "cash" can
>become worthless over night if someone (say a government) decides to
>switch off a computer (the one holding the double spending database).

There are soem alternatives which would come closer to this definition.

One possibility is to make the double-spending database public.  Whenever
someone receives a coin they broadcast its value.  The DB operates in
parallel across a large number of servers so it is intractable to shut
it down.

The greater danger is that the mint would be taken over and forced to
behave badly, say by issuing too many coins.  This would degrade the
money and make it worthless.

Another possible form of ecash could be based on Wei Dai's b-money.
This is like hashcash, something which represents a measureable amount of
computational work to produce.  It therefore can't be forged.  This could
be a very robust payment system and is worth pursuing further.

Wei Dai (Chinese: 戴维) is a computer engineer known for contributions to cryptography and cryptocurrencies. ... He developed the Crypto++ cryptographic library, created the b-money cryptocurrency system, and co-proposed the VMAC message authentication algorithm.

 

https://news.bitcoin.com/many-facts-wei-dai-being-satoshi/

 

It's an interesting post. He's basically hypothesizing the public ledger to deal with the double-spend issue, recommending the currency has inbuilt scarcity and hypothesizing the concept that later became proof of work. 

 

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23 minutes ago, Boss said:

 

It's an interesting post. He's basically hypothesizing the public ledger to deal with the double-spend issue, recommending the currency has inbuilt scarcity and hypothesizing the concept that later became proof of work. 

 

That's what I thought

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On 01/01/2022 at 08:34, Boss said:

 

It's an interesting post. He's basically hypothesizing the public ledger to deal with the double-spend issue, recommending the currency has inbuilt scarcity and hypothesizing the concept that later became proof of work. 

 

Exactly

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On 02/01/2022 at 10:05, Jordy Brouwer said:

How so?

How so what?

 

Big drop again here for Bitcoin. Seems to be good support at this level and then again just below $40k... Interesting to see how things play out.

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3 hours ago, Lario said:

I think how so it's going to change the game.

It basically elimiates ETH fees by letting you buy ETH on BEP20 and then bridge it back to ERC20 for minimal fees. ETH fees are a hige pain in the arse.

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9 hours ago, Spy Bee said:

How so what?

 

Big drop again here for Bitcoin. Seems to be good support at this level and then again just below $40k... Interesting to see how things play out.

 

The FED are looking to sell off their corporate bonds which has caused the US markets to drop significantly. The bitcoin drop may have some way to go.

 

That's really interesting what you're saying about how to circumvent Ethereum fees. I've never got into Ethereum because the fees are so outrageous. What are the fees percentage-wise using this method? And can you transfer ERC20 directly to ETH?

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13 hours ago, Spy Bee said:

How so what?

 

Big drop again here for Bitcoin. Seems to be good support at this level and then again just below $40k... Interesting to see how things play out.

The thing I asked so how for was this 

 

My advice is to buy some ORN. This is going to change the game!

 

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