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Anyone watching the ongoing Scotland vs Netherlands match (2nd ODI)? After their win yesterday, Netherlands put up a pathetic display today and were bowled out for 171 (Scott Edwards made 56 and Stephan Myburgh 40). Alasdair Evans picked up 5 wickets for Scotland. Now Scotland are 20/0 after 7 overs, with Kyle Coetzer batting alongside Matthew Cross. I was disappointed with Netherlands because they are part of the 2020–2023 ICC Cricket World Cup Super League.
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Anyway, we can't completely put the blame on Elon Musk and Tesla as we are all entitled to our own interpretation and deduction from his tweet neither was it an investment advice. We were all sucked into Musk's perception and involvement with crypto and as such, what he says now matters. Too bad of us.
If a mentally deranged lunatic can cause a 40% crash in Bitcoin prices just using his tweets, then the problem lies with us, and not with him. Panic selling has been the curse of Bitcoin for the past one decade. When will people learn to hold their coins? Look at the charts now. After crashing to $34,000 per coin, now the prices are slowly recovering. According to the coinmarketcap, the current exchange rate stands at $42,000 per coin. But those who dump their coins as a result of panic selling never learn. They will repeat doing that again and again. |
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Hopefully we will be able to see the PSL resuming before the World Cup.
The latest news is that PSL will resume next month in Abu Dhabi, UAE. https://www.espncricinfo.com/story/pakistan-super-league-2021-psl-gets-green-light-from-abu-dhabi-authorities-for-june-resumption-1263611The remainder of PSL 2021 has finally been given the go-ahead to be played out in Abu Dhabi in June, a significant overnight turnaround after prospects for the future of the sixth season had begun to look gloomy. On Wednesday the PCB had deferred a decision on the fate of the season by 24 hours after they couldn't secure some critical exemptions from the Abu Dhabi government. UAE has made 10-days of strict quarantine mandatory for everyone. If the players or officials once again ignore the quarantine requirements, then I am afraid that they will be in great trouble. The Emirates authorities have zero tolerance for law breakers. |
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Unfortunately (or fortunately), the virus is a living organism, due to vaccination taking place for the elderly first, the virus is a living organism and in order to survive, it has to infect in order to survive. As a result, it is now infecting the younger generations. Our only way out of this Pandemic is vaccinations, unfortunately in most EU countries the vaccination program for ages below 40 is still in early stages.
For instance, in Greece ages 30-39 started a few weeks ago, I'm now waiting for ages below 30 to start, in order to arrange an appointment for myself.
Consider yourselves lucky. Here in India, only one or two states are allowing those who are aged 18-45 to get an appointment. The vaccination is still limited to those who are above 45 years in most of the states. And I don't know the exact reason, but the pace of vaccination has gone down drastically in many of the regions. Previously up to 3 million people were getting vaccinated every day. Now that number has fallen to around 1 million. At this rate, it will take 6 years to vaccinate everyone. |
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These sort of fluctuations are common with Bitcoin. If you can't deal with them, then you need to divert your funds to low-risk assets such as bullion and treasury bonds. The volatility of Bitcoin is exactly the reason why the potential returns are also higher. And despite all the bloodbath we had in the cryptocurrency market, the basics are still very strong. The correction will make sure that the less serious investors exit the cryptocurrency market, and that may be beneficial in the long term.
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I would have been worried, if this had happened 3-4 years back. I first invested in cryptocurrency long back in 2017. It has been 4.5 years and I have been through various ups and downs. Those who are getting alarmed and depressed at the decline from $62,000 to $36,000 also need to remember that it was almost a continuous bull run from $8,000 to $62,000 in the past few months. A correction was long due, but the bull run will resume very soon.
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Right now, the USA has a greater advantage over countries as it's the epicenter of the most effective COVID vaccines in the world (mainly Pfizer/BioNTech and Moderna). There's light at the end of the tunnel for Americans, but not for other people in the world. The global economy will take a long time to recover if countries fail to improve vaccination rates and vaccines' effectiveness. Rich countries like the US and those in the EU will be the ones that will defeat COVID-19 at a quicker rate than poorer ones. As long as people's health is the priority (instead of the economy), there should nothing to worry about. Unfortunately, most governments are taking wrong decisions by focusing on reopening their economies as soon as possible. I believe that a lockdown is the ideal solution to contain the pandemic. This, combined with mass vaccine distribution, should make COVID-19 disappear real fast. Ultimately, the fate of our economy and our society lies on the cooperation of both governments and individuals alike. Just my thoughts  The United States is still reporting 700-800 deaths per day. I am actually surprised by the numbers, as the vaccination rate there is above 60%. Why so many Americans are dying despite such a high vaccination coverage? And regarding lockdowns, I don't think that many countries can afford that right now. The economies are not in great shape. Also, it has been shown that lockdowns only slow down the spread and not prevent the infections in the long run. |
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If it was easier to send banknote, I would have already auction some one mine on here for BTC or alts.
Sometimes life is hard.
As long as these banknotes are in circulation, they won't be in much demand. When Zimbabwe was printing out the hundred trillion Z$ banknotes, no one really wanted them back then. But after they replaced Zimbabwe Dollar with the US Dollar, the demand for these banknotes increased. A few years back, I purchased 10 of them for $50. So if you can afford, accumulate as many banknotes as you can. After 5-10 years, they will be in great demand and you can sell them at huge profit. |
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It is foolish to wait for the vaccine. I don't think the Indian government will ever be able to vaccinate all their populations. The Indian cricket board must think of an alternative way. They can wait a while. Maybe in a few months the situation will be normal. Otherwise, the IPL could resume in the states where corona virus infection is low.
The second wave has affected almost all the states. There is not a single state where the situation is good. And even if the infection rate goes down for a while, there is no guarantee that it will not be back to previous levels when the tournament starts. The best solution is to move the tournament to UAE. If they keep the decision pending until the last moment, then it will create difficulties for everyone. And if they want the tournament in India, then I am sure that it will not feature any overseas players. |
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All that Musk has done with DOGE is talk about it mention it. He has not endorsed it, helped with it's development, nor invested in it. Musk has a decent following, but merely mentioning it is not going to be enough to get a lot of people to buy it. IMO, we had a lot of people speculating that Musk will either endorse, invest in, or help develop DOGE, in the hopes that doing so would get others to buy. When this did not immediately happen, these speculators eventually sold off their positions. That was the case two weeks ago, but now the situation has changed. If you were following the tweets form Elon, you should know. He has openly endorsed Dogecoin after badmouthing Bitcoin. And on top of that, he has stated that he will be working with the Dogecoin developers to make the coin more efficient. Don't you think that Elon is endorsing Dogecoin here? Fortunately for the last 2 days this lunatic seems to have kept his mouth shut. And that helped a lot, and now the exchange rates are stable. |
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When Tesla bought the ~46k bitcoin, they did not place a buy order for 46k @ $32,000/each. They bought ~46k bitcoin at an average price of $32k. This means some of the coin they bought was at a higher price, and some of it was at a lower price.
This is important because when you sell bitcoin, you can sell specific tax lots for tax (and accounting) purposes. They could have sold some of their coin that they bought at a higher or lower price than their average purchase price. I would also point out that which tax lots Tesla used is separate and distinct from the inputs they use when they transfer the coin.
Is it even possible? Here in India, we use the FIFO (first in, first out) principle for tax purpose. That means that the earliest purchased coins are considered to be sold, if the sale is partial. As far as I know, the user doesn't have the freedom to specify which lot he has sold. Or is the tax calculation different in the United States? Also, I am not sure whether Telsa needs to pay any taxes here. Since they are a corporation, rather than short term capital gains tax, corporate tax will be applicable. And the tax rate will be near zero, since their overall PAT is in negative. |
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Did anyone asked you not to use USDT? And people like me never claimed that Bitcoin is suitable for instant payments, that too involving smaller amounts. If you don't want to pay a higher fee, then you have two options - 1. wait until the mempool gets smaller and thereby the fee levels come down 2. Use an altcoin such as BCH or ETC, which is having a lower fee. Also, I would like to remind you that very few of us use Bitcoin to pay for our coffee, or for similar smaller payments.
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BNB is must buy now not just because their exchange is the most popular. Binance smart chain is continuously growing and many good projects are developed there. It also has a lot of uses in binance exchange platform like lauchpads, vaults, and staking. It also helps you to lessen the fees when you trade on their platform and less fees when making transactions under bsc network. Quarterly burns is also done and if demand in their bsc network continues to grow in the future with the less supply, price will definitely increase. Despite the recent market crash, BNB is still looking overpriced. I would say that the fair price for BNB is a market cap of ~$50 billion. The current market capitalization as per Coinmarketcap stands at $60 billion, which is slightly more than what I would have liked. Also keep an eye on the Coinbase market cap in NASDAQ. I guess right now, it is somewhere around $50b right now. IMO, there is no harm in waiting for a few weeks to invest in BNB. |
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It is hard to anticipate what is going to happen next and we don't know what Elon is going to do next, we either ignore him or be patient, but there is no point in putting all the power into his hands.
Elon's tweets are not going to anymore damage. He has been tweeting almost continuously for the last few days and that has resulted in the cryptocurrency market crashing by 40% (around $800-$900 billion in unrealized losses). The damage has been done. Now no one will take his tweets seriously anymore. His intention has been exposed and for me, it is a good thing. The sooner we get rid of Elon, that much better. And since it has happened now, the threat of any future sabotage from Elon is inexistent. |
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I think Elon Musk is right, and I agree with him. PoW is the cancer of Bitcoin, and it needs to go away, or Bitcoin will die with it.
Proof of Stake is the way to go for the future. There's a reason why Ethereum is undertaking huge amount of development risk and pow miner backlash to move away from PoW into PoS.
You have no idea about the issues that are present in PoS coins. There is a reason why almost all the top cryptocurrencies use the PoW algorithm. PoS is vulnerable to manipulation and those who enjoy the majority stake can gang up and do whatever they want, ignoring the requests from the community. With PoW, doing so is near impossible. And also, try to find why Ethereum delayed the shift from PoW to PoS repeatedly. They had to postpone it indefinitely, because the best developers still don't have the confidence to make the PoS algorithm risk-free, despite working on it for many years. |
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The good news is that now it looks like there's a light at the end of the tunnel. Isarel, with around 60% vaccinated, is showing great results:
It depends on the type of vaccine. In Israel, they mostly used the Pfizer-BioNTech vaccine and it is very effective in preventing COVID. On the other hand, Seychelles also had 60%+ vaccination rate, but they used the vaccine from Oxford-AstraZeneca. Seychelles is undergoing a second wave of the pandemic right now (same with Maldives, another country which had more than 60% vaccination rate with AstraZeneca). Now the extreme case is that of Chile, which had more than 50% vaccination rate with the Chinese vaccine Sinovac. But the infection rates seems to have increased after the vaccination. |
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Many of the countries (including the UAE) are witnessing a steep increase in COVID 19 infections recently. Pakistan is also badly hit. Therefore I don't think that the PSL can be resumed during the next 2-3 months. And after this period, the T20 World Cup is scheduled and therefore it becomes even more difficult. Maybe the PCB can wait and watch for the next few weeks to see whether the situation improves. If it doesn't then it will be better to call off the remaining matches. |
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Being honestly i really believe tesla will accept dogecoin as payment really soon, i am expecting this to show up anytime from now on
Possible. Else Elon wouldn't have put up the poll in Twitter. But unlike what happened when they started accepting Bitcoin, the decision to accept Doge (if it is ever taken) is going to be detrimental for Tesla. Dogecoin is a cryptocurrency with hardly any accountability. It can go up or down by 50% in a single day. And due to low liquidity, Tesla will struggle to convert Doge to fiat currency once they receive the payment. And as far as I know, none of the altcoins (including Doge) offers the same level of security offered by Bitcoin. |
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6. Cannot operate under snow.
Are you sure about this point? Because they claim that Tesla is as good as any other car in the snow. I don't own a Tesla myself, or have ever driven one. So I checked the internet. And this is what I found: https://cleantechnica.com/2019/02/16/the-tesla-model-3-is-tons-of-fun-in-the-snow-with-the-right-tires/The only catch here is that you need to replace the original tires with those that are suitable in the snow. And the Winter Sottozero 3 tires offered by Tesla costs around $4,000 (which is again overpriced, similar to any other Tesla product). |
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