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1081  Economy / Economics / Re: Is it true that 80% of the world's wealth in the hands of 20%? on: February 23, 2023, 03:14:30 PM
Governments have always been extremely inefficient, they attempt to redistribute the wealth they get by the taxes they extort from the population, but a great deal of that wealth is consumed by them as they generate a significant amount of bureaucratic jobs which are unnecessary, give themselves high salaries and create useless institutions, so despite their supposed good intentions they end up not helping the people that need their help the most.
The difference between some nations is that taxes goes to waste in all kinds of nations, but some of them try to have less government, while others try to get rid of the corruption in the government.

I believe that we do need government and it's help, because there are too many things that can't be let to private companies, it just doesn't work better for the general population, but the way it is right now, our taxes are spent inefficiently so that doesn't work neither. Instead of getting rid of all those big budget governmental organizations, we should be getting rid of people in the government who doesn't use our money for us, but uses for themselves.
1082  Economy / Speculation / Re: What comes next for Bitcoin: $20K or $30K? on: February 23, 2023, 02:48:40 PM
It is true that the price drop is still relatively higher than the previous lowest price and at this time, the price can return to the $ 24K level. And hopefully, after yesterday's correction, the price can continue to rise to $ 30k. We are all still waiting for the price to increase step by step and enjoying the ups and downs of Bitcoin prices while trying to accumulate more bitcoin.
Basically it means that buyers are looking into it more than the sellers. As soon as it drops, people end up buying more and I am guessing that it is going to end up with a good situation that will be a lot higher than what we have been in a long time. I know that people are upset about the current situation because it is not going to be easy choice to keep buying, it has been a long time since we have been high so there are still a lot of people with anxiety about the price.

But if we keep allowing that type of fear to control our finance, then we are not going to be able to profit when the price inevitably goes up, which it will, there is no way around that. So buy when you can, before it is too high.
1083  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Rank positions on CMC changes every bull market? on: February 22, 2023, 01:09:54 PM
What is the crypto projects in top 20 that will fail to retain their position in the next bull market? There is a saying that in every bull market new projects will take over the top 20, do you think another project can rob the positions that Avalanche, Matic, Polkadot and Solana tomorrow?
still have no idea which is which , but I am sure that the rang 10 will maintain its position , though there will be small movement but wont provide big effect .

Matic and Dot had a good movement in the past , but with the coming Bull (approximately 2024-2025) I'm not sure if there will be a big action because surely Bitcoin and Ethereum will lead the way to the top.
I think top 10 will change in a way that at least 3 or 4 coins will get out of it, and a new 3-4 will join in. I am not saying that it's a must, but that is usually what happens most of the time and I am sensing it will be once again what will happen.

All I know is, the past is teaching us something and that means we are going to probably repeat it, maybe not exactly but coins like btc and eth and bnb will stay because they are too close to the top, and things like xrp or doge will go out because they are barely holding anyway. That's just my prediction based on what happened in the past, if things change then they can change, I am not saying it's a sure thing.
1084  Economy / Trading Discussion / Re: Anonymity vs. KYC: The Pros and Cons of Cryptocurrency Exchanges on: February 22, 2023, 08:55:41 AM
what are your thoughts on exchanges with and without KYC? Do you prefer exchanges with strict KYC requirements, or do you value anonymity and privacy more and prefer to use exchanges with little to no verification process? What are the disadvantages and advantages of each approach? And what measures do you take to ensure your anonymity when exchanging cryptocurrencies?
I get that our data could be hacked and be shared, and I am willing to take that risk. People think that KYC is just there for exchanges to comply with government requests and nothing more, which is very wrong.

KYC is there to protect you, in case someone tries to hack into your account, if you have KYC enabled that means you could provide proof that you are in fact you, whereas hackers won't be able to, because being able to hold a piece of paper that has that days date is not something they could replicate. Hence, having KYC, even with all the risks involved is still better for me and makes me feel a lot better about it in the long run.
1085  Economy / Trading Discussion / Re: Is it true that this AI is good for trading? on: February 21, 2023, 11:54:40 AM
It depends on what do we call a prediction. If we expect that AI will give a 100% answer about what will be in the future then it is impossible, at least as modern science know. But if we talk about statistical probability of different main variants I guess it can do so. But if to choose most probable variant all the time you'll get an error anyway as events with low probability happen as well and relying too much on an AI advice can end with total loss. So right, it is important to understand for any tool how it works and not expecting it can do more that it can.
That is all it can do anyway, and yes it could be wrong. It will have all the data that you could have, of course it can process it a lot better and give a much better result, so the answer could be "it can be better trader than I could be" is true, that's not really wrong, but the fact that people expect it to be right all the time is just not understanding the market.

If you know about the market, you know that even the most likely things may fail and when you expect something, just the opposite could happen. Even if we are talking about just a bad news which could change everything. Which is why AI could be better than me, but not without its faults.
1086  Economy / Speculation / Re: Are we now on Crypto bull run? on: February 21, 2023, 06:25:51 AM
We consider the current position of Bitcoin to be a short bull run. But Bitcoin may face some hurdles in the future. Bitcoin price is most likely not moving lower as the cryptocurrency market touched 15 which is an all-time low. But once again, the Bitcoin market rose a bit higher and settled at 25K in the bull run. But there's no set time frame for how long this bull run will last until it's credible. Investors are advised to take up to 30k positions in this fertilizer run.
Investors have of course prepared their respective strategies in response to the short bull run that has occurred in the last two months. As some of them are also recovering the amount of money they lost in the last year's downturn and for now, they definitely won't hesitate to continue buying and are monitoring the price very well before the big bullrun really comes in Bitcoin. But I also don't think that a big bullrun will come this year even though it could happen within this year.
That is true, a lot of whales lost money during bear run as well, people think that whales are doing alright but being in the red for over 1.5 years is not an acceptable thing even if you are a whale. So they are buying as much as they possibly could to make as much profit they possibly can.

It is not going to be an easy thing to accept that fact, but it will definitely be done eventually. We just need to make sure that we could make a profit from it if we can, not going to be easy, but ride the tails of those whales who are insisting on buying and making it go higher. We can help them by buying, and maybe we don't have as much as whales, but when combined, we all make one whale as well.
1087  Other / Archival / Re: Bitcoin vs. Inflation on: February 20, 2023, 09:49:22 AM
That's by far not expected. Institutions have more likely (and bigger amounts too) liquidity saved to buying at bottom whatever they can (usually competitors, but Bitcoin is also very appealing at this price).

Institutionals, represented by various banks and funds, will definitely not miss the opportunity to buy at the bottom of the market. As soon as central banks release liquidity to the markets, buying will become more tangible.

I found an interesting infographic for 2022, which shows the inflation rate in different countries:


Honestly, I checked and couldn't see the two top highest ones, were they omitted because they have high inflation? Argentina and Turkey has officially the highest ones, these are nations that reached 100% levels officially, probably a lot more considering governments would want to hide it as much as they possibly can.

At the end of the day, it is not an easy task to have something like this going on, 100%+ is surreal, imagine paying double for everything, and that's the average, which means somethings got three four times more expensive as well. Lowest inflation is fine, I wonder how the people from highest inflation actually feels about crypto.
1088  Other / Archival / Re: Long-term Bitcoin accumulation continues on: February 20, 2023, 09:14:46 AM
I think Bitcoin is a long-term investment asset,
You shouldn't think like that.
If you think Bitcoin is a long-term investment asset, you will be lost the asset when the price target catches up and you sold the assets.

don't waste your time with the price.
yes, I know you will got a profit when buying it for $10k and selling it for $60k. then you buy again at 20k and wait until further more, is it not tired?

I have a public idol who has never sold a dime of bitcoin since 2013 he just buy and never sell it. he thinks bitcoin is not an asset investment, but currency, people never sold the currency.
I think that is basically the same thing, you guys are talking about the same thing if you ask me. I know that it doesn't look like that most of the time and you think asset should be sold when it reaches a certain level, but it doesn't have to be sold. Look at Warren Buffet, that dude has been holding some stocks for over 4 decades now, which shows you that you do not have to sell your assets.

This is why buying and holding bitcoin for decades could be called anything, long term investment, asset, currency, whatever. I believe it is one of the best out there and I am one of those people who call it an asset and I am not planning on selling it anytime soon.
1089  Economy / Speculation / Re: How was your belief formed? on: February 20, 2023, 08:38:22 AM
I knew bitcoin about 9 years ago, at that time I often saw special reviews about bitcoin on Bloomberg tv and often reported on the collapse of bitcoin which dropped from $ 1100 in 2013 to below $ 200, at that time the closing review was saying that staying away from bitcoin was better than investing , but this made me curious so I read a lot about bitcoin and at that time I could earn for free, because I was still in school and had no money to invest, I participated in many bitcoin giveaway sites, faucetbox, and so on, I even won the lottery 3 btc at freebitco.in.
I was in bitcoin a bit before that, during the time when it moved from 180 dollars to 1200 dollars, I got in on early 2013 so saw the price actually going up, and then going down. Believe me, it didn't really change much to be a bit earlier, because we didn't know that bitcoin would recover, now we know and now I hold it even when we are in bear market, but at the time I didn't know this, and sold mine.

I did the same methods, worked and found places and even founded a faucet once, and eventually made some profit from all of them and of course ended up selling them a bit later on. That's just how I do, it's just not easy thing for me at all to accept but that's the reality, millions gone basically.
1090  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Bitcoin start rising up what coin is good for investing right now for short term on: February 18, 2023, 06:24:46 AM
Bitcoin has made a recovery impact on most of the market surface but I think altcoins will recover but that doesn't mean it will go up, altcoin bullish trend is not clear yet, free market is  create a new trend structure after more FUD happens and the risk on centralized trading is getting bigger and bigger, I think the coins that fit the decentralized trend will get short-term bullish wick by its characteristic  oriented to the right needs.  I think short-term altcoins are all imo from the news, if you want to watch AAVE, OKB, RPL… I set medium term target at 2024 -2025 so I will reduce short term amounts slightly.
I think we need to see what bitcoin goes to first before we could make any calculations based on altcoins. I know that many people will want to see something great with most of the altcoins they are holding, and have high hopes. However, in the crypto world you see bitcoin rising first, and when bitcoin rises, it takes the others with it, so you need to wait for that bitcoin rise before anything else.

I know that it would take some time before we could see it go somewhere decent, but that doesn't mean that it will be years, so we just need to wait this period out and when the bull run comes, from bitcoin to smallest token, it will start to rise as well.
1091  Economy / Trading Discussion / Re: ChatGPT and Trading on: February 17, 2023, 07:16:01 PM
Hello,
Has anyone used ChatGPT for trading?


Thank you so much.
I would guess that "chat"gpt is basically just a primitive form of what we can see in the future and that is what being discussed right now. Not exactly the same thing, not openai and chatgpt being able to trade, but basically AI that comes out of that.

I know it is open source if I am not wrong, or at least replicated a few times already, and even painting related stuff are done with midjourney, so we should be able to say how much it can do and how much it can't do and what is the power of it. Will it be able to help you trade? Well in a sense it could, because it can learn from other people what to do and how to do it, that's what machine learning is all about.
1092  Economy / Trading Discussion / Re: Trading is risky, be conscious on: February 17, 2023, 03:05:24 PM
One major reason why one needs to be very careful while trading is the emotional hallucination involved when there is a loss.Many people believe that during trading,risk is one major thing that one must take,but when the risk taken finally materialises into reality and brings loss,they suffer heart pressure which sometimes make them lose their mind and sometimes cause depression.It is therefore good to take note of the fact that failure is part of success,because Everytime that one fails,there is an experience gathered,and that experience makes them do well in their next trading.
Indeed, when starting to trade, beginners should identify and be ready to accept losses, I have not seen a single trader who can make a profit or succeed without experiencing any loss. It can be said that failure is inevitable in trading, it is important that we get up to overcome it or not. If you want to succeed in trading, you must first accept losses even many times, not just once or twice.
My advice for newbies, whether you are a trader or a holder, all need to be patient and not give up every time you fail. Only when you do, that will success come to you.
Experience is the best teacher. You could end up studying for years, which you should, you should try to learn as much about it as possible, but then in the end you are not going to end up with anything serious and will end up with a trouble in the long run if you keep ignoring the experience part.

No matter how much you study and learn, without actually "doing" the trading part, you will not be profiting, first you need to learn and then you need to trade and experience part also comes with the losses, you lose and you learn and then you end up with something much better and avoid that mistake in the long run, that's at least the best way I can put it.
1093  Bitcoin / Bitcoin Discussion / Re: Advantage of holding Bitcoin in time of crisis on: February 17, 2023, 02:33:15 PM
in Turkey and Syria a lot of people have been mad homeless and government infrastructures such as banks have been destroyed as a result of the earthquake and other natural and man made disasters that has happened in various regions.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!
Since you're saying Bitcoin become your banks, it means you're saying you hold your Bitcoin in your hardware wallet. As we know someone will leave their hardware wallet and the seed phrase in the most safest place, also it's need to be hidden and secret. Now explain to me how you can able to get your hardware wallet or seed phrase when the earthquake destroy your house? Grin

I believe you will not have a time to found your seed phrase because the charity organizations in your country will force you to leave the place until it's already safe enough, at that time you will scared if your house might be cleaned up by the charity organizations.
I would guess that you could have a backup plan as well, and ledger has that too. Meaning, if you are owner of a hardware wallet, then you get all these seeds and all that, first of all, you could upload them somewhere online which would be unsafe but that is a simple solution to you, very easy, not safe, but very easy.

Secondly, you could just explain to them what happened and hardware wallet company may help you? I do not know if they would, but you could just write it on a piece of paper and put it somewhere that is not your house, even a bank deposit as well. All in all, there are multiple ways if you want to do it, not safe, but multiple ways nevertheless.
1094  Bitcoin / Bitcoin Discussion / Re: I have always wanted to ask this about bitcoin on: February 16, 2023, 01:09:09 PM
I think it would just change the speed of adoption. New people will come at a slower pace but in general, I think the best about bitcoin is the technology. Especially right now, when governments try to control people and their money. And don't forget about unbanked people who use bitcoin because of the technology.
Unbanked are not as much as people think it is, looking at bitcoin and where it is majorly used, they are all from nations that have big banks, and not from unbanked people, it could be a personal choice to not use any banks in those nations as well, so you could be technically "unbanked" in that regard, but it is clear that people in crypto are in general from nations that have banks.

On the other hand, we are talking about innovation and technology that gives freedom, which is correct reason why people use it and adoption would go higher, no matter what happens, bitcoin itself is not changed and it is looking quite good to invest at any moment no matter what others do about it.
1095  Economy / Economics / Re: The fear of global recession is real or just a speculation? on: February 16, 2023, 11:09:09 AM
Yea I agree with this but developing countries will still suffer economically. Somehow developing countries that are dying in the hands of corrupt and incompetent leaders struggle really hard to move forward and learn from past experiences. The world around them learn and invent different ways to deal with issues while they are just content on how things are because they don't give a shit if the country gets better or not.
The other issue here is that it's fairly normal for a government to borrow money or receive financial aid during a recession and the higher the corruption, the more debt that could end up being taken by the whole country to be used for and by just a few people in control there (if they're corrupt enough and there's little able to make them leave - especially if it isn't publicised).
Most governments are corrupt, and that means we do not get to see the benefits of our taxes in almost any nation in the world and recession will of course be an issue when corruption is higher. They will just print double what they need, half of it to ALL people and half of it to their rich friends, or even themselves.

This is why recession is so much worse than inflation in my mind, during inflation you need to pay more for the workers, if you do not, then someone else will be, but during recession everyone cuts spending, which means you need to cut even more than the corrupt ones since they will try to do illegal but bribed ways of making more than you.
1096  Alternate cryptocurrencies / Altcoin Discussion / Re: Best practices to prevent hackers from stealing our crypto assets on: February 16, 2023, 08:18:54 AM
Hardware wallet is the most important thing and the only one that can really secure your funds
It is important to not generalize that much as this is not entirely true, there have been many cases in which people buy a hardware wallet from a doubtful source and instead of generating a new wallet they use the seed words which came with their compromised hardware wallet, they make a deposit and the hacker steals the money as those seed words originally belonged to them, so as you can see you can lose your coins as well with a hardware wallet if you are not careful.
Buying it from a doubtful source is the mistake they do in that case. Get it from the real source and you won't have such a problem. If you bought ledger nano from "some guy" then you could lose all that you have, but if you buy it from ledger directly and not from some random stranger, the problem drops a lot smaller.

I personally bought it directly from ledger, took months to get to me because on early days they took your money but then built it later on, so it took months to receive one, but I never had any problems at all because I bought it directly from the source. Nobody in between has ever seen it and I trust them enough to know they wouldn't risk any hacking issues in house.
1097  Economy / Gambling discussion / Re: Motosport General discussion tread --- Formula1, MotoGP, WTCC, ETCC, DTM..... on: February 15, 2023, 08:45:51 PM
To be honest, this year I have the feeling that Ferrari has the strongest car, and if they stop making mistakes, they could have the strongest car the whole season. Last season, Ferrari definitely had the strongest car in the first half of the season and lost a lot of important points due to their own mistakes (strategy, pit stops, etc.).

My guess is that Ferrari will be the strongest car, followed closely by RedBull and Mercedes.
I agree, in part.

In 2022 Ferrari invested heavily in their cars after a long time of weak investments, but their strategic mistakes and car problems ended up causing us to quickly lose hope in Ferrari.

For this year, I believe they have learned from their mistakes and should have a much more coherent 2023 season, with these "adjusted" details.

However... Mercades will still be a "stone in the shoe" of Ferrari, I believe that it will be the main impediment for Ferrari to be able to reach the top positions.
Let's see how the teams and drivers will cope in the first few races so we can draw more conclusions about this.
Red Bull is still the team to beat, not only they have a great car, but everything is in place for them, a great driver, a great defensive helper, a great team principle, great car designer (newey, the best ever) and great engineers, so they are still the team to beat.

Ferrari made some changes with management, got a new TP, and build even a better car, and have some good drivers, but they made many mistakes and before we can say they are good, we need to see if they will make the same mistakes or not, if they don't then they have a chance to win, if they do then they will lose once again due to mistakes, and that is something we can't see before we see some races.
1098  Economy / Speculation / Re: Can I invest my 60% savings in Bitcoin? on: February 15, 2023, 06:06:31 PM
If someone wants to invest in bitcoins for the long term, then it shouldn't be a big deal to buy them at any price. But there are better strategies to take advantage of especially when the market is corrected by a few percent, I mean buying on the dips is much more profitable in the long term.

Investment time frames may vary, especially since investors have different profit targets. I don't think that's the case, but it's true that investing in bitcoin is a good choice right now. If the OP thinks 60% is high, then there are people out there who even believe 100% is way better. It's not that asset diversification is bad, but they just believe that bitcoin has better potential in the long term.
I think it "matters" in the sense that if bitcoin is 400k one day, buying at 40k and buying at 20k matters a lot, in one of them you have 400k, in the other you have 800k in your pocket when that happens. Not many people calculate the potential profit in the future, and that is a bit of an issue. However, you do not know how low it could get, which is why many just end up buying, and I do that too.

I keep buying all the time, which means eventually I would be making a profit, it's not going to be too simple and I will have to wait and meanwhile I keep buying but that doesn't mean that we shouldn't be really selling it at all, it is as normal as it gets.
1099  Economy / Speculation / Re: Bitcoin hits 20,000$ again, what is the reason? on: February 15, 2023, 05:08:34 PM
BTC price started to decline in late 2021 and in 2022 it went from bearish to more bearish for the whole year. There are some unexpected events that help to further this bearish trend. Since it has been bearish for a long time, naturally we can expect its bullish trend. Moreover, just a few days ago when we recognized that the CPI had dropped to 6.5% in December from 7.1% in the previous month, we started to see the BTC price go up. This situation is not unusual. However, one has to rely on the CPI results of the next few months to get more certainty about where the market will go in the future.
I think the future will be a lot more bright because CPI will keep dropping, and we are going to just end up with a lower interest rate in the near future as well, just like how it went up, it will also start to go back down as well when the time comes and when that happens bitcoin will skyrocket for sure.

Too many people sold their bitcoins and started putting their money in savings, most of those people will stop doing that and start putting their money back into bitcoin when the rates are much lower. I know it is not an easy subject and I know it will take some time for this to happen but it is just simple economics and it will eventually happen and I will have some coins before it happens.
1100  Economy / Gambling discussion / Re: T20 and T20I cricket prediction and discussion on: February 14, 2023, 08:25:10 PM
Australia's women's team is very strong. And their goal is the World Cup. On the other hand, Bangladesh's women's team is very weak. Especially their batting line-up is very weak. They also lost badly against Sri Lanka. It is unimaginable that they will win against Australia. I was sure that Bangladesh will lose this match. And Bangladesh gave the target only 107 runs in 20 overs. There is no possibility of defeating the Australian team with such a low target. Australia collected 76 runs in 12 overs. And they lost just one wicket. Australian women needed just 32 runs from 48 balls to win. Australia is going to win the match very easily.
Australian's are best in their business as they are defending champions of this event, and they are crushing all opponents easily after having big win against arch rival New Zealand now today they have done same against Bangladesh and give them thumbing defeat after winning toss Bangladesh elect to bat first and things were not in their favour as no one were able to have any solid start just captain Nigar Sultana were in good form with having 57 runs on 50 ball and just because of this inning they were able to have 107 runs which were not enough for having any positive result Mooney lost her wicket early but after this there were no chance for Bangladesh to stay into this game, and they lost this match by eight wickets with this win now Australians are at the top of group.
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