![]() If the peak value of the interest rate was predicted at 4.9% in early February with a subsequent decrease by 50 basis points (bp) by the end of the year, the peak is seen now at 5.25%, and a possible decrease only by 25 b.p. Market participants decided that such macro statistics will force the Fed to further tighten monetary policy actively. The initial reaction to this was the strengthening of the dollar (the DXY index reached 104.1 points, the maximum since January 09), and a sharp drop in stock indices. After two months of decline, retail sales in the US showed the highest growth rate in almost 2 years, jumping from -1.1% in December to +3.0% in January (against the forecast of +1.8%). Another portion of American statistics came out the next day, February 15. At the same time, although the annual data were slightly lower than the previous value: +6.4% against +6.5%, they exceeded the forecast of +6.2%. The core Consumer Price Index (CPI) remained unchanged on a monthly basis at +0.4%. January data released on Tuesday, February 14 showed that the US Federal Reserve’s victory over inflation is still very, very far away. As always, Bitcoin has been targeting decentralization from its inception and features like these only attest to that effort.EUR/USD: The Fed Doesn’t Hinder the US Economy The objective of all this is to provide you with a tool to send and verify information safely and without any kind of intermediary for it. On the other hand, and as you can see, it is a really simple process, in fact, if you know encryption and decryption systems for messages such as PGP (or GPG) you will realize that it works using the same basis of principles. To give you an idea of its security, you should know that this process is based on a superior security than almost anyone that you use in your day to day in some processes with online banking, messaging, telephony. In short, the security of both Bitcoin and this function is protected by very powerful cryptography that has not been broken at the moment. This is possible thanks to the fact that Bitcoin uses the digital signature algorithm ECDSA to perform all these operations, and for the moment, said algorithm next to the curve secp256k1, is considered highly safe. If that is one of your concerns, you might like to know that you have nothing to worry about: this function is secure, in fact it is highly secure. Surely you wonder if this system is really safe and cannot be broken in some way. One more reason why he is known as a scammer.Īt this point, it is clear that it is quite a useful function and that it can be adapted to the needs of whoever is going to use it and, with a little creativity, find new and revolutionary scenarios. Simply signing a message with any of the addresses could prove it. This is something that was asked of Craig Wright, because he shouts to the 4 winds that he is Satoshi Nakamoto, but he is not able to demonstrate that he has control over the directions attributed to Satoshi Nakamoto. Be able to prove that you are the owner of an address.If a group of people have decided to create a multisig wallet, a preliminary step could be to verify that we indeed have control of the address that corresponds to us and for this we can sign a message using that address. As a preliminary to the configuration of multi-sig or multi-signature purses.Thus, the recipient could take the message, the address and the signature and verify that everything is correct. To do this, the full text would be signed (where the address to pay also appears) and we will add the digital signature. ![]() For example, they send us a message, and we need to know that the message has not been intercepted and modified (ex: changing the address for payment). Be able to make payments to a specific address safely.For example, if we have decided to make a purchase using bitcoins from an address, but they ask us to verify that that address and funds are ours, then signing a message with that address solves the problem. There are a wide variety of use cases where this feature can be useful. However What is the real utility of signing messages using your Bitcoin address? As we discussed at the beginning, performing this procedure allows you to make public certain information that can be verified by anyone without major problems and with total security. Utility of signing messages using your Bitcoin address
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