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Solve the following problem using Python, implementing the functions described below, one line at a time
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Description:
 def initialize(self, timeouts):
 """ Bind or connect the nanomsg socket to some address """


        # Bind or connect to address
        if self.bind is True:
            self.socket.bind(self.address)
        else:
            self.socket.connect(self.address)

        # Set send and recv timeouts
        self._set_timeouts(timeouts)