Bitcoin surges after accidentally released Treasury statement


Bitcoin surges after accidentally released Treasury statement



Prices of Bitcoin and other cryptocurrencies have soared following the apparent accidental release of a U.S. Treasury statement on Bidenโ€™s expected executive order on digital assets.

The premature statement by Treasury Secretary Yellen, which was dated March 9, hasย since been removed.

โ€œPresident Bidenโ€™s historic executive order calls for a coordinated and comprehensive approach to digital asset policy.ย  This approach will support responsible innovation that could result in substantial benefits for the nation, consumers, and businesses.ย 

It will also address risks related to illicit finance, protecting consumers and investors, and preventing threats to the financial system and broader economy.โ€

Quote from the now deleted statement

At the time of writing, Bitcoin is up nearly 8% in the last 24 hours.

Bidenโ€™s executive order aims to regulate the crypto market while also reaping the benefits of digital currencies.

So far, like most countries in the world, the US has tended to react to developments and has limited itself to pointing to a political-economic approach that is yet to be developed.


Statement by Secretary of the Treasury Janet L. Yellen on President Biden’s Executive Order on Digital Assets


March 9, 2022

WASHINGTON –ย  U.S. Secretary of the Treasury Janet L. Yellen released the following statement on President Biden’s executive order on digital assets.ย 

“President Bidenโ€™s historic executive order calls for a coordinated and comprehensive approach to digital asset policy.ย  This approach will support responsible innovation that could result in substantial benefits for the nation, consumers, and businesses.ย  It will also address risks related to illicit finance, protecting consumers and investors, and preventing threats to the financial system and broader economy.

Under the executive order, Treasury will partner with interagency colleagues to produce a report on the future of money and payment systems. Weโ€™ll also convene the Financial Stability Oversight Council to evaluate the potential financial stability risks of digital assets and assess whether appropriate safeguards are in place. And, because the questions raised by digital assets often have important cross-border dimensions, weโ€™ll work with our international partners to promote robust standards and a level playing field.

This work will complement ongoing efforts by Treasury. Already, the Department has worked with the Presidentโ€™s Working Group on Financial Markets, the FDIC, and OCC to study one particular kind of digital asset โ€“ stablecoinsโ€“ and to make recommendations. Under the executive order, Treasury and interagency partners will build upon the recently published National Risk Assessments, which identify key illicit financing risks associated with digital assets.ย 

As we take on this important work, weโ€™ll be guided by consumer and investor protection groups, market participants, and other leading experts. ย Treasury will work to promote a fairer, more inclusive, and more efficient financial system, while building on our ongoing work to counter illicit finance, and prevent risks to financial stability and national security.”


Sources:

https://forbes.com/

https://disclose.tv/

https://bloomberg.com/

https://web.archive.org/web/20220309014601/https://home.treasury.gov/news/press-releases/jy0643




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Totalitarian Governments..

Totalitarianismย is aย form of governmentย andย political systemย that prohibits all opposition parties, outlaws individual opposition to theย stateย and its claims, and exercises an extremely high degree of control and regulation over public and private life.

It is regarded as the most extreme and complete form ofย authoritarianism.

In totalitarian states,ย political powerย is often held byย autocrats, such asย  dictatorsย  andย absolute monarchs, who employ all-encompassing campaigns in whichย propagandaย is broadcast by state-controlledย mass mediaย in order to control the citizenry.

It remains a useful word but the old 1950s theory was considered to be outdated by the 1980s,and is defunct among scholars.

The proposed concept gained prominent influence in Western anti-communist andย McCarthyistย political discourse during theย Cold Warย era as a tool to convert pre-World War IIanti-fascismย into post-warย anti-communism.


Leaders who have been described as totalitarian rulers, from left to right and top to bottom in picture, includeย Joseph Stalin, formerย General Secretary of the Communist Party of the Soviet Union;ย Adolf Hitler, formerย Fรผhrerย ofย Nazi Germany;ย Augusto Pinochet, formerย Presidentย ofย Chile;ย Mao Zedong, formerย Chairman of the Communist Party of China;ย Benito Mussolini, formerย Duceย ofย Fascist Italy; andย Kim Il-sung, theย Eternal President of the Republicย ofย North Korea

As aย political ideologyย in itself, totalitarianism is a distinctly modernistย  phenomenon, and it has very complex historical roots. Philosopherย Karl Popperย traced its roots toย Plato,ย Georg Wilhelm Friedrich Hegel‘s conception of theย state, and the political philosophy ofย Karl Marx, although Popper’s conception of totalitarianism has been criticized in academia, and remains highly controversial.

Other philosophers and historians such asย Theodor W. Adornoย andย Max Horkheimerย trace the origin of totalitarian doctrines to theย Age of Enlightenment, especially to theย anthropocentristย idea that:

“Man has become the master of the world, a master unbound by any links to nature, society, and history.”

In the 20th century, the idea of absolute state power was first developed byย Italian Fascists, and concurrently in Germany by a jurist andย Naziย academic namedย Carl Schmittย during theย Weimar Republicย in the 1920s.

Benito Mussolini, the founder of Italian Fascism, defined fascism as such: “Everything within the state, nothing outside the state, nothing against the state.”

Schmitt used the termย Totalstaatย (lit.โ€‰’Total state’) in his influential 1927 work titledย The Concept of the Political, which described the legal basis of an all-powerful state.

Totalitarian regimes are different from otherย authoritarianย regimes, as the latter denotes a state in which the single power holder, usually an individual dictator, a committee, aย military junta, or an otherwise small group of political elites, monopolizes political power.

A totalitarian regime may attempt to control virtually all aspects of social life, including the economy, the education system, arts, science, and the private lives and morals of citizens through the use of an elaborate ideology. It can also mobilize the whole population in pursuit of its goals.

Definition

Totalitarian regimes are often characterized by extremeย political repression, to a greater extent than those of authoritarian regimes, under an undemocratic government, widespreadย personality cultismย around the person or the group which is in power, absoluteย control over the economy, large-scaleย censorshipย andย mass surveillanceย systems, limited or non-existentย freedom of movementย (the freedom to leave the country), and the widespread usage ofย state terrorism.

Other aspects of a totalitarian regime include the extensive use ofย internment camps, an omnipresentย secret police, practices ofย religious persecutionย orย racism, the imposition ofย theocraticย rule orย state atheism, the common use ofย death penaltiesย andย show trials, fraudulent elections (if they took place), the possible possession ofย weapons of mass destruction, a potential for state-sponsoredย mass murdersย andย genocides, and the possibility of engaging in aย war, orย colonialismย against other countries, which is often followed byย annexationย of their territories.

Historianย Robert Conquestย describes a totalitarian state as a state which recognizes no limit on its authority in any sphere of public or private life and extends that authority to whatever length it considers feasible.

Totalitarianism is contrasted withย authoritarianism. According to Radu Cinpoes, an authoritarian state is “only concerned with political power, and as long as it is not contested it gives society a certain degree of liberty.”

Cinpoes writes that authoritarianism “does not attempt to change the world and human nature.”

In contrast,ย Richard Pipesย stated that the officially proclaimedย ideologyย “penetrating into the deepest reaches of societal structure, and the totalitarian government seeks to completely control the thoughts and actions of its citizens.”

Carl Joachim Friedrichย wrote that “[a] totalist ideology, a party reinforced by aย secret police, and monopolistic control of industrial mass society are the three features of totalitarian regimes that distinguish them from other autocracies.”



Visualization of the AES round function

Advanced Encryption Standard

Theย Advanced Encryption Standardย (AES), also known by its original nameย Rijndaelย (Dutch pronunciation:ย [หˆrษ›indaหl]), is a specification for theย encryptionย of electronic data established by the U.S.ย National Institute of Standards and Technologyย (NIST) in 2001.

AES is a variant of the Rijndaelย block cipher developed by twoย  Belgianย  cryptographers, Vincent Rijmenย andย Joan Daemen, who submitted a proposalto NIST during theย AES selection process.

Rijndael is a family of ciphers with different key and block sizes. For AES, NIST selected three members of the Rijndael family, each with a block size of 128 bits, but three different key lengths: 128, 192 and 256 bits.

AES has been adopted by theย U.S. government. It supersedes theย Data Encryption Standardย (DES), which was published in 1977.

The algorithm described by AES is aย symmetric-key algorithm, meaning the same key is used for both encrypting and decrypting the data.

In the United States, AES was announced by the NIST as U.S.ย FIPSย PUB 197 (FIPS 197) on November 26, 2001.

This announcement followed a five-year standardization process in which fifteen competing designs were presented and evaluated, before the Rijndael cipher was selected as the most suitable.

AES is included in theย ISO/IECย 18033-3ย  standard. AES became effective as a U.S. federal government standard on May 26, 2002, after approval by the U.S.ย Secretary of Commerce.

AES is available in many different encryption packages, and is the first (and only) publicly accessibleย cipherย approved by the U.S.ย National Security Agencyย (NSA) forย top secretย information when used in an NSA approved cryptographic module.



Andreas M. Antonopoulosย (born 1972 in London) is a British-Greek Bitcoinย advocate, tech entrepreneur, and author.

He is a host on theย Speaking of Bitcoinย podcastย (formerly calledย Let’s Talk Bitcoin!) and a teaching fellow for theย M.Sc.ย Digital Currencies at theย University of Nicosia.

Antonopoulos was born in 1972 in London, UK, and moved to Athens, Greece during theย Greek Junta.

He spent his childhood there, and at the age of 17 returned to the UK.

Antonopoulos obtained his degrees inย Computer scienceย and Data Communications, Networks and Distributed Systems fromย University College London.

Books


All Credit goes to Andreas M. Antonopoulos


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BitHouse with ๐Ÿ’š


Bitcoin – Power to the People by BitHouse-Co

Redbubble Shop BitHouse

For the first time in human history there is at the disposal of the masses a tool that eliminates the middlemen and takes trust from the hands of humans and beautifully makes it a mathematics code that cannot be breaken, hacked or tricked…

https://www.redbubble.com/shop/ap/99847715?asc=u

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What bitcoin is … NOT

Bitcoin is not Abracadabra…
but Bitcoin can be Avada Kedavra for the current Banking system!

Bitcoin is not Magic…
but it can be for Muggles!

Bitcoin is not an “Investment” …
but educating yourself about bitcoin can be!

Bitcoin is not an “Investment”…
but knowingย  the basics and being educated about it, lowers the chances of loosing your hard earned money!

Bitcoin is not an “Investment”…
but staking Sats proved to be a preety good Strategy in the Long Term!

Bitcoin is not digital money…
but it’s ons of it’s first applications!

Bitcoin is not money…
but is Money for the Internet!

Bitcoin is not PRICE !!!

Bitcoin is not PRICE…
but the market is driven mostly by FUD & FOMO people

Fear
Uncertainty
Doubt

bring the market Down


Fear
Of
Missing
Out

bring the market Up

Bitcoin is not a “Get Rich Quick Scheme” and the one’s that got rich were the one’s that were there from the begining…

Bitcoin is not voodoo people, magic people…
but a bunch of smart geeks & nerds that support the bitcoin’s philosophy and what it stands for…

Bitcoin is not under no juridstiction…
but it is a global p2p network of like-minded people that with the power of their equipment sustain, mantain and make the bitcoin network stronger and more decentralized!

Bitcoin is not a Coin…
but an entry in a digital ledger!

Bitcoin is not illegal activity money…
but bitcoin can be used in such activity…
Reports show that FIAT is still the No. #1 choice for “Evil Doers” as it doens’t have an public, open and visible ledger …
Duh…

Bitcoin is not evil…
but bitcoin can be used to do evil!
As does a Pen!
It can be used to do evil!
How, you would ask?
Ifย  I take this โœ and stick it up your a… who is Evil ?!?
The One who invented the pen?
The Pen?
Me?
Your a.. cause it was in the way ๐Ÿคฃ
Perspective is a matter of opinion…

Bitcoin is not News…
but instead read pools, github, exchanges, wallets…
They are the ones that pave the way where bitcoin could, should or would go!

Bitcoin is not DEAD…
It was already declared Dead 441 times!

see :

https://99bitcoins.com/bitcoin-obituaries/

Bitcoin is not …
Yapidi Yapidi Yap people…

If someone says :

1 – Bitcoin consumes too much electricity, they don’t understand POW!

2 – Bitcoin isn’t a government backed currency, you should ask who backs their government…
If the answer is the Army…

3 – Bitcoin isn’t backed by gold like the the US$…
Neither is the $ since ’71

4 – Bitcoin isn’t real because I can’t see it…
80% of world’s money is Digital…

5 – Bitcoin isn’t a store of value as good as Gold is…
Gold had thousands of years to prove that, bitcoin only 13… give it time!
It already proved a lot !!!

6 – Bitcoin’s inventor is annonymous and can’t be trusted…
Who invented money then? How do money come up into existance?

7 – Bitcoin will never be largely accepted because it isn’t issued by a government…
You know what else wasn’t issued by no government ? Cars, Electricity, Steam Engine, Facebook, Uber, Google, Amazon, etc bla bla bla

8 – Bitcoin can’t be a currency cause I can’t buy anything with it…
I think I have shared a list with places that you can buy things with bitcoin…Quite a few!!!

9 – Whales… Beware of yapidi yap of whales cause they say one and do the opposite ๐Ÿ™‚ ๐Ÿ˜‰ !!!

9 – Bitcoin is not this, bitcoin is not that but they all swarm around the bee’s honeypot as if it were honey ๐Ÿคฃ๐Ÿคฃ๐Ÿคฃ

I forgot…In the meantime, little unsignificant countries like El Salvador, mine bitcoin with ๐ŸŒ‹ !!!

And still newspapers, investors that bite their whatever not having invested when it was under $1, and a hole portion of the world are all saying…

Etc bla bla bla Yapidi Yapidi Yap


Never Forget The Golden Rules:

Not Your Keys, Not Your Crypto!!!

Don’t Trust, Verify!!!

Don’t Believe, Do your own Resesearch and due diligence!!!

Save your Wallet’s Mnemonic Phrase in at least 3 places for safe-keeping!!!


WE ARE SATOSHI


When you’re ready…

Timothy C. May

Hal Finney

Poem of the Legacy

From the ashes of the long forgotten past,
A bright mind wrote a code that would for ever last…
A code so powerful and strong,
That would change the world for oh so long…

The code he wrote and set it free,
For the humankind legacy to be…
To change the lives of future generations to come,
He wrote the code and he was gone…

Oh, bright mind your legacy will last,
For generations to come and be thankful about the past…
Nobody knows who you might be,
Some do and say Kudos to You for Ethernity!


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Happy 13th BirthDay bitcoin

bitcoin – People’s Money

Brief history of Bitcoin

On January 3rd, 2009 Satoshi Nakamoto published the Genesis Block with the first 50 Bitcoins on Sourceforge. He also left a message on the blockchain at the time, quoting the headline in the British newspaper Times:

On January 3, 2009, the minister was on the verge of bailing out the banks.

Nakamoto started writing the white paper in 2008 and published it in October of that year.

The concept of a decentralized, anonymous, trusted currency emerged after the 2008 financial crisis, which left responsibility for the banks.

Satoshi neither supports the modern banking system nor does he like partial reserve banks.

A partial reserve bank is a bank that takes deposits and issues loans or investments, but only has to reserve a fraction of its liabilities for deposits. Basically, the bank is using money that it doesnโ€™t own.

Satoshi wants to get rid of banks and seedy middlemen whom he believes are corrupt and unreliable. As such, he created a more community-centric digital currency.

13 years later, Bitcoin is still going strong with a market cap of nearly $ 900 billion. It is currently held by billionaires, banks, celebrities, governments, and corporations. This is evidence of how far BTC has come in its brief existence.

The precarious banking situation and economic uncertainty are also in crisis again.

The price ofย Bitcoinย on its birthday ๐ŸŽ‚

13 years: $ 47,310
12 years: $ 33,400
11 years: $ 7,319
10 years: $ 3,783
9 years: $ 14,764
8 years: $ 1,084
7 years: $ 432
6 years: $ 275
5 years: $ 816
4 years: $ 13
3 years: $ 5
2 years: $ 0.29
1 year: $ 0.05


Happpy Birthday bitcoin !!!

Thanks for all the teachings and wealth of Knowledge I do now have thanks to you !!!


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Kudos to @ChessurKot

I ๐Ÿ’š it so much i had to share it !!!

Amazing poster and imagination !!!

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Bitcoin Taproot

On November 14th, block height 709,632, Bitcoinโ€™s Taproot upgrade was activated. The update brings with it improvements to the flexibility, security, and efficiency of bitcoin transactions. And as Bitcoinโ€™s first protocol upgrade in over four years, itโ€™s a major milestone in the development of the network. 

Below, we outline the Taproot upgrade, what it changes, and how it will impact the bitcoin network going forward.

Three interconnected upgrades, deployed simultaneously

The Taproot upgrade is actually an umbrella term referring to three interconnected Bitcoin Improvement Proposals (BIPs) set to activate simultaneously: 

  1. BIP 340, orย Schnorr. This proposal introduces Schnorr signatures, a digital signature scheme that is faster, more secure, and less data-intensive than the cryptographic method currently in use (Elliptic Curve Digital Signature Algorithm, or ECDSA).
  2. BIP 341, orย Taproot. This proposal defines Pay-to-Taproot (P2TR), a new way to send bitcoin that enhances privacy and flexibility for users. It also implements Merklized Alternative Script Trees (MAST), which compress complex Bitcoin transactions into a single hash. This reduces transaction fees, minimizes memory usage, and improves Bitcoinโ€™s scalability.
  3. BIP 342, orย Tapscript. This proposal defines Tapscript, an update to Bitcoinโ€™s original scripting language that enables P2TR transactions, leverages Schnorr signaturesโ€™ improved efficiency, and allows for more flexible upgrades going forward.

Taproot adoption timeline

On June 12th, 2021, these upgrade proposals reached a 90% consensus among miners, thus locking in their November activation as a soft fork to Bitcoinโ€™s protocol. As a soft fork, the Taproot upgrade is backwards compatible with older versions of bitcoin and does not create a separate, parallel blockchain, as was the case with Bitcoin and Bitcoin Cash. 

Adoption of taproot is expected to grow slowly over a period of years, just as it did with SegWit, the last major Bitcoin upgrade. Two years after SegWitโ€™s activation, roughly 50 percent of transactions used it; today, four years after, that proportion is 80 percent. The main reason for this slow rate of adoption is that cryptocurrency wallets and service providers choose to opt-in on their own schedule.

Taprootโ€™s impact

The Taproot upgrade will improve Bitcoin in a number of ways, such as:

  • Lower fees: Since the data size of complex transactions will be reduced, transaction fees will decline proportionally.
  • Improved lightning network efficiency: Taproot will make transactions on the Lightning Network cheaper, more flexible and more private.
  • Enhanced smart contract functionality: With Taproot, Bitcoin will be able to host smart contracts with any number of signatories while retaining the data size of a single-signature transaction. This lays the technical foundation for DeFi on the Bitcoin network.
  • Andย many others

In other words, the Taproot upgrade is a massive improvement to the Bitcoin protocol.

Lightning network improvements and expanded smart contract capabilities will improve bitcoinโ€™s utility; meanwhile, lower transaction fees and increased network speed will improve its scalability.ย 

For this reason, weโ€™re thrilled to welcome BIP 340, 341, and 342 at block height 709,632 and beyond.

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