cogitobcn
New Member
๐จ๏ธ 159
๐๐ป 97
August 2017
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Bitcoin
Sept 21, 2017 15:07:36 GMT 1
Bitcoin, by cogitobcn on Sept 21, 2017 15:07:36 GMT 1, Value = scarcity + utility I agree and most of what you said, but just let me improve this maths:
Value = scarcity * utility = utility / availability
Value = scarcity + utility I agree and most of what you said, but just let me improve this maths: Value = scarcity * utility = utility / availability
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Deleted
๐จ๏ธ 0
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January 1970
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Bitcoin
Sept 21, 2017 16:49:34 GMT 1
Bitcoin, by Deleted on Sept 21, 2017 16:49:34 GMT 1, mate of mine owns 4 bitcoins but can't find his wallet pwd. i take it theres no way to recover it? Nope, if you lose your private key and have only that, you are fucked. That's why you should have a hardware wallet like a Trezor or Ledger which comes with a 24 word passphrase which let you recover your wallet in case of an emergency.
Fun thread, if you are just reading up on crypto here for the first time, read what sparky has to say as he has a very solid grasp on the matter. I've been in crypto for a few months now and really wish I was this educated when I began investing. Invested mostly out of FOMO but my portfolio is luckily holding around the breakeven-point during the China storm.
My advice at this point in time for new investors would be: only throw fuck you money at it and NEVER invest more than you can stand to lose. Crypto has very swingy markets that can give you 50% gains and losses in a matter of hours.
mate of mine owns 4 bitcoins but can't find his wallet pwd. i take it theres no way to recover it? Nope, if you lose your private key and have only that, you are fucked. That's why you should have a hardware wallet like a Trezor or Ledger which comes with a 24 word passphrase which let you recover your wallet in case of an emergency. Fun thread, if you are just reading up on crypto here for the first time, read what sparky has to say as he has a very solid grasp on the matter. I've been in crypto for a few months now and really wish I was this educated when I began investing. Invested mostly out of FOMO but my portfolio is luckily holding around the breakeven-point during the China storm. My advice at this point in time for new investors would be: only throw fuck you money at it and NEVER invest more than you can stand to lose. Crypto has very swingy markets that can give you 50% gains and losses in a matter of hours.
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Deleted
๐จ๏ธ 0
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January 1970
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Bitcoin
Sept 21, 2017 20:46:00 GMT 1
Bitcoin, by Deleted on Sept 21, 2017 20:46:00 GMT 1, what's the spread generally? Is it active enough to get in and out easily?
what's the spread generally? Is it active enough to get in and out easily?
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chevyav53
Junior Member
๐จ๏ธ 1,356
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August 2017
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Bitcoin
Sept 26, 2017 17:13:22 GMT 1
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Dive Jedi
Junior Member
๐จ๏ธ 6,194
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October 2015
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Bitcoin
Sept 26, 2017 17:16:28 GMT 1
Bitcoin, by Dive Jedi on Sept 26, 2017 17:16:28 GMT 1, Just p!ssed of at myself for not buying 1.000 of them 5 years ago.....
Seemed like a IT nerdy thing to do at the time.
Now the IT nerds buy all the Banksy's
Just p!ssed of at myself for not buying 1.000 of them 5 years ago..... Seemed like a IT nerdy thing to do at the time. Now the IT nerds buy all the Banksy's
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chevyav53
Junior Member
๐จ๏ธ 1,356
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August 2017
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Bitcoin
Sept 26, 2017 17:18:41 GMT 1
Bitcoin, by chevyav53 on Sept 26, 2017 17:18:41 GMT 1, I know, if only. But I like his mindset. This thought provoking quote around life changing events is on point and forward thinking;
โRemember, bubbles happen around things that fundamentally change the way we live,โ he said. โThe railroad bubble. Railroads really fundamentally changed the way we lived. The internet bubble changed the way we live. When I look forward five, 10 years, the possibilities really get your animal spirits going.โ
I know, if only. But I like his mindset. This thought provoking quote around life changing events is on point and forward thinking;
โRemember, bubbles happen around things that fundamentally change the way we live,โ he said. โThe railroad bubble. Railroads really fundamentally changed the way we lived. The internet bubble changed the way we live. When I look forward five, 10 years, the possibilities really get your animal spirits going.โ
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gd79
Junior Member
๐จ๏ธ 1,132
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September 2015
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Bitcoin
Sept 26, 2017 18:18:50 GMT 1
via mobile
Bitcoin, by gd79 on Sept 26, 2017 18:18:50 GMT 1, I know, if only. But I like his mindset. This thought provoking quote around life changing events is on point and forward thinking; โRemember, bubbles happen around things that fundamentally change the way we live,โ he said. โThe railroad bubble. Railroads really fundamentally changed the way we lived. The internet bubble changed the way we live. When I look forward five, 10 years, the possibilities really get your animal spirits going.โ
Yeah and those damn tulips are everywhere now
I know, if only. But I like his mindset. This thought provoking quote around life changing events is on point and forward thinking; โRemember, bubbles happen around things that fundamentally change the way we live,โ he said. โThe railroad bubble. Railroads really fundamentally changed the way we lived. The internet bubble changed the way we live. When I look forward five, 10 years, the possibilities really get your animal spirits going.โ Yeah and those damn tulips are everywhere now
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chevyav53
Junior Member
๐จ๏ธ 1,356
๐๐ป 1,134
August 2017
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Bitcoin
Sept 26, 2017 18:38:37 GMT 1
Bitcoin, by chevyav53 on Sept 26, 2017 18:38:37 GMT 1, Don't think tulips fall into a fundamental change in the way we live..... except in Holland
Don't think tulips fall into a fundamental change in the way we live..... except in Holland
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Sub Method
New Member
๐จ๏ธ 195
๐๐ป 180
February 2009
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Bitcoin
Sept 27, 2017 3:56:47 GMT 1
Bitcoin, by Sub Method on Sept 27, 2017 3:56:47 GMT 1, This thread is a fun read!
This thread is a fun read!
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gd79
Junior Member
๐จ๏ธ 1,132
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September 2015
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Bitcoin
Sept 27, 2017 8:25:39 GMT 1
via mobile
Bitcoin, by gd79 on Sept 27, 2017 8:25:39 GMT 1, There is a huge problem with thinking crypto is a good fundamental investment. For it to be worth something, it has to be useful as a means of exchange. For that to be the case, it cannot be volatile. If it is not volatile, it won't offer you the stunning gains that we have seen so far. For it to keep delivering such gains, it cannot be useful anymore.
Anyone investing is treating it as purely speculative. A speculative currency is entirely non functional for transactions.
None of this means you can't make money, just don't swallow the line that it will keep going up forever for fundamental reasons
There is a huge problem with thinking crypto is a good fundamental investment. For it to be worth something, it has to be useful as a means of exchange. For that to be the case, it cannot be volatile. If it is not volatile, it won't offer you the stunning gains that we have seen so far. For it to keep delivering such gains, it cannot be useful anymore.
Anyone investing is treating it as purely speculative. A speculative currency is entirely non functional for transactions.
None of this means you can't make money, just don't swallow the line that it will keep going up forever for fundamental reasons
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gd79
Junior Member
๐จ๏ธ 1,132
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September 2015
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Bitcoin
Sept 27, 2017 8:29:24 GMT 1
via mobile
Bitcoin, by gd79 on Sept 27, 2017 8:29:24 GMT 1, And btw whoever thinks JPM is somehow cornering the market is smoking dope. The entire value of every ETH out there is $27bn. Big number, but for JPM it's no more than a rounding error, even if they somehow bought every unit out there (which would immediately render it worthless, ironically).
By comparison they have 600bn of real dollars on their balance sheet of 2.5 trillion dollars.
And btw whoever thinks JPM is somehow cornering the market is smoking dope. The entire value of every ETH out there is $27bn. Big number, but for JPM it's no more than a rounding error, even if they somehow bought every unit out there (which would immediately render it worthless, ironically).
By comparison they have 600bn of real dollars on their balance sheet of 2.5 trillion dollars.
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firstimer
New Member
๐จ๏ธ 192
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March 2015
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Bitcoin, by firstimer on Oct 3, 2017 2:06:21 GMT 1, I have Neo,OMG, Ten x, civic, Ark, Litecoin and Ether.
I have Neo,OMG, Ten x, civic, Ark, Litecoin and Ether.
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Deleted
๐จ๏ธ 0
๐๐ป
January 1970
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Bitcoin, by Deleted on Oct 3, 2017 2:24:12 GMT 1, I have Ether. Got on it very early. Not lambo early but early enough HODL for many more moons
I have Ether. Got on it very early. Not lambo early but early enough HODL for many more moons
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Deleted
๐จ๏ธ 0
๐๐ป
January 1970
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Bitcoin, by Deleted on Oct 3, 2017 3:50:35 GMT 1, I have a trezor which works fine, no experience with a Ledger tho. Ledger seems to be being more actively developed for altcoins.
I have a trezor which works fine, no experience with a Ledger tho. Ledger seems to be being more actively developed for altcoins.
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dreadnatty
Junior Member
๐จ๏ธ 5,431
๐๐ป 6,992
February 2013
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roisaintlouis
New Member
Dope.Gallery
๐จ๏ธ 255
๐๐ป 63
May 2013
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Bitcoin, by roisaintlouis on Oct 5, 2017 3:47:20 GMT 1, I have a trezor which works fine, no experience with a Ledger tho. Ledger seems to be being more actively developed for altcoins. Same here, Trezor,i trust it but Ledger seem to works very fine too
I have a trezor which works fine, no experience with a Ledger tho. Ledger seems to be being more actively developed for altcoins. Same here, Trezor,i trust it but Ledger seem to works very fine too
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Deleted
๐จ๏ธ 0
๐๐ป
January 1970
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Bitcoin, by Deleted on Oct 5, 2017 7:06:09 GMT 1, I'm very happy with the ledger, pretty user friendly.....
I'm very happy with the ledger, pretty user friendly.....
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sparky999
New Member
๐จ๏ธ 714
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October 2013
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Bitcoin, by sparky999 on Oct 5, 2017 8:45:35 GMT 1, There is a huge problem with thinking crypto is a good fundamental investment. For it to be worth something, it has to be useful as a means of exchange. For that to be the case, it cannot be volatile. If it is not volatile, it won't offer you the stunning gains that we have seen so far. For it to keep delivering such gains, it cannot be useful anymore. Anyone investing is treating it as purely speculative. A speculative currency is entirely non functional for transactions. None of this means you can't make money, just don't swallow the line that it will keep going up forever for fundamental reasons This is entirely false - volatility does not affect the ability of a medium to act as a value transfer system.
It does increase the cost of carry - not the same thing.
There is a huge problem with thinking crypto is a good fundamental investment. For it to be worth something, it has to be useful as a means of exchange. For that to be the case, it cannot be volatile. If it is not volatile, it won't offer you the stunning gains that we have seen so far. For it to keep delivering such gains, it cannot be useful anymore. Anyone investing is treating it as purely speculative. A speculative currency is entirely non functional for transactions. None of this means you can't make money, just don't swallow the line that it will keep going up forever for fundamental reasons This is entirely false - volatility does not affect the ability of a medium to act as a value transfer system. It does increase the cost of carry - not the same thing.
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sparky999
New Member
๐จ๏ธ 714
๐๐ป 535
October 2013
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Bitcoin, by sparky999 on Oct 5, 2017 8:47:08 GMT 1, And btw whoever thinks JPM is somehow cornering the market is smoking dope. The entire value of every ETH out there is $27bn. Big number, but for JPM it's no more than a rounding error, even if they somehow bought every unit out there (which would immediately render it worthless, ironically). By comparison they have 600bn of real dollars on their balance sheet of 2.5 trillion dollars. Completely false - you couldn't buy all the Ethereum in the world for it's current market cap - thinking that shows a complete lack of understanding of fixed supply markets.
And btw whoever thinks JPM is somehow cornering the market is smoking dope. The entire value of every ETH out there is $27bn. Big number, but for JPM it's no more than a rounding error, even if they somehow bought every unit out there (which would immediately render it worthless, ironically). By comparison they have 600bn of real dollars on their balance sheet of 2.5 trillion dollars. Completely false - you couldn't buy all the Ethereum in the world for it's current market cap - thinking that shows a complete lack of understanding of fixed supply markets.
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sparky999
New Member
๐จ๏ธ 714
๐๐ป 535
October 2013
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Bitcoin, by sparky999 on Oct 5, 2017 8:51:23 GMT 1, I have Neo,OMG, Ten x, civic, Ark, Litecoin and Ether.
Thanks for being the counterparty to my shorts
I have Neo,OMG, Ten x, civic, Ark, Litecoin and Ether. Thanks for being the counterparty to my shorts
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sparky999
New Member
๐จ๏ธ 714
๐๐ป 535
October 2013
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Bitcoin, by sparky999 on Oct 5, 2017 8:53:58 GMT 1, Ah I had no idea this thread existed over here. I'm mostly invested in ETH as well as some OMG, SALT, IOTA, ZRX and DNT. Should be in for some big things over the next few months.
Why are all you noobs buying ETH and dumbfuck ICOs? Blows my mind
Ah I had no idea this thread existed over here. I'm mostly invested in ETH as well as some OMG, SALT, IOTA, ZRX and DNT. Should be in for some big things over the next few months. Why are all you noobs buying ETH and dumbfuck ICOs? Blows my mind
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sparky999
New Member
๐จ๏ธ 714
๐๐ป 535
October 2013
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Bitcoin, by sparky999 on Oct 5, 2017 8:57:50 GMT 1, I'll be around for a little while today - if you want to ask some questions I'm happy to answer just don't expect me to be anything but brutally honest.
I'll be around for a little while today - if you want to ask some questions I'm happy to answer just don't expect me to be anything but brutally honest.
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tran16
New Member
๐จ๏ธ 567
๐๐ป 504
December 2016
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Bitcoin, by tran16 on Oct 5, 2017 9:17:36 GMT 1, what's wrong with ETH ?
what's wrong with ETH ?
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sparky999
New Member
๐จ๏ธ 714
๐๐ป 535
October 2013
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Bitcoin, by sparky999 on Oct 5, 2017 9:32:09 GMT 1, It's basically just a glorified fund raising platform, most of the funds raised are illegal due to securities law. Literally every day another country comes out and says they are investigating or banning ICO fundraising. The hammer is coming down and when it does ETH will get rekt so hard it won't be funny.
The code itself is a rats nest of security vulnerabilities, the architecture built around ETH is sub par and not adequately tested, the cost of actually running a lot of the Dapps on the network is prohibitive to most of the projects that have launched on it.
The marketing behind it has drawn so many noobs in it's mind blowing - all those people are dumb money and the market maker will rape them for their naivety. When you see the amount of people who bought ETH and its ICO's with out putting a dollar into bitcoin you should be scared s**tless at holding ETH.
It's basically just a glorified fund raising platform, most of the funds raised are illegal due to securities law. Literally every day another country comes out and says they are investigating or banning ICO fundraising. The hammer is coming down and when it does ETH will get rekt so hard it won't be funny. The code itself is a rats nest of security vulnerabilities, the architecture built around ETH is sub par and not adequately tested, the cost of actually running a lot of the Dapps on the network is prohibitive to most of the projects that have launched on it. The marketing behind it has drawn so many noobs in it's mind blowing - all those people are dumb money and the market maker will rape them for their naivety. When you see the amount of people who bought ETH and its ICO's with out putting a dollar into bitcoin you should be scared s**tless at holding ETH.
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tran16
New Member
๐จ๏ธ 567
๐๐ป 504
December 2016
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Bitcoin, by tran16 on Oct 5, 2017 9:37:36 GMT 1, ok, very interesting & thanks, so are BTC, LTC XRP more robust & secure
ok, very interesting & thanks, so are BTC, LTC XRP more robust & secure
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darwin
New Member
๐จ๏ธ 193
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April 2013
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Bitcoin, by darwin on Oct 5, 2017 9:39:03 GMT 1, Does anyone have an opinion on XRP? An opinion on Lumens?
Does anyone have an opinion on XRP? An opinion on Lumens?
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RoboJ
Artist
Junior Member
๐จ๏ธ 1,202
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July 2015
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Bitcoin, by RoboJ on Oct 5, 2017 10:12:51 GMT 1, I dont understand? There seem to be bluechip companies embracing Ethereum. I am no expert but it seemed a better solution than Bitcoin. the only thing bitcoin appears to have is a known brand, and that seems like an empty promise.
Can you put it in laymans terms please?
I dont understand? There seem to be bluechip companies embracing Ethereum. I am no expert but it seemed a better solution than Bitcoin. the only thing bitcoin appears to have is a known brand, and that seems like an empty promise.
Can you put it in laymans terms please?
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sparky999
New Member
๐จ๏ธ 714
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October 2013
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Bitcoin, by sparky999 on Oct 5, 2017 10:22:15 GMT 1, ok, very interesting & thanks, so are BTC, LTC XRP more robust & secure BTC is the best tested protocol, doesn't mean there aren't still bugs people haven't found yet though.
LTC is well tested also.
XRP - it's not a decentralised protocol, doesn't matter much if they have bugs cos ripple can just wipe it and reboot.
The biggest difference between Eth and almost all other chains is the complexity of the protocol, complexity increases the attack surface. Bitcoins core devs actively try to reduce the attack surface of the protocol, ETH just yolo it up.
ok, very interesting & thanks, so are BTC, LTC XRP more robust & secure BTC is the best tested protocol, doesn't mean there aren't still bugs people haven't found yet though. LTC is well tested also. XRP - it's not a decentralised protocol, doesn't matter much if they have bugs cos ripple can just wipe it and reboot. The biggest difference between Eth and almost all other chains is the complexity of the protocol, complexity increases the attack surface. Bitcoins core devs actively try to reduce the attack surface of the protocol, ETH just yolo it up.
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sparky999
New Member
๐จ๏ธ 714
๐๐ป 535
October 2013
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Bitcoin, by sparky999 on Oct 5, 2017 10:24:47 GMT 1, Does anyone have an opinion on XRP? An opinion on Lumens? Seriously what sort of a question is this - this post shows you how much dumb money is in crypto right now.
Jump on to reddit you'll find 10,000 opinions.
Does anyone have an opinion on XRP? An opinion on Lumens? Seriously what sort of a question is this - this post shows you how much dumb money is in crypto right now. Jump on to reddit you'll find 10,000 opinions.
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