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1101  Bitcoin / Bitcoin Discussion / Re: Will the launch of $350M crypto mining centre in Oman make a difference? on: August 23, 2023, 01:20:48 PM
Since it's the second mining centre launched in Oman, and the question is about its impact, I think we gotta ask whether the first one made a difference. I personally must have missed the news about the first one, and that one cost even more to open, according to the article. I tried looking for more info about Bitcoin mining in Oman but failed to find anything useful.
It's good that Oman is looking at other industries, but so far, these are just a couple of experiments to me, not a major policy change and not something that will affect mining globally.
1102  Economy / Games and rounds / Re: Sportsbet.io ⚽ São Paulo FC ⚽ Prediction Contest ⚽ (Sunday, August 27) on: August 22, 2023, 03:15:44 PM
a.  Draw
b.  2-2
c.  SPFC
d.  Over
e.  Yes
f.  SPFC
1103  Bitcoin / Bitcoin Discussion / Re: Has Bitcoin Helped Create Big Changes In Your Life? on: August 22, 2023, 02:56:22 PM
I'd say it had a significant impact, but largely indirectly, I guess. I've learned a lot about cryptos and about the economy that I probably would not have otherwise known, I got much more interested in following the news that are related to global economy as well. Moreover, I've learned about scams, basic security, became more mindful of my digital footprint. There were times when Bitcoin really helped me financially as well, hard times.
I don't think it made me more optimistic about the future, but it surely made me more aware of the flaws of traditional financial institutions.
1104  Economy / Games and rounds / Re: Sportsbet.io ⚽ Southampton ⚽ Prediction Contest ⚽ (Saturday, August 26) on: August 22, 2023, 02:50:32 PM
a. Draw
b. 1-1
c. QPR
d. Under
e. Yes
f. 24'
1105  Economy / Economics / Re: Turkey lira was close to devaluation now russian currency on: August 22, 2023, 02:45:27 PM
Op suggest a very peculiar interpretation of events in all of these cases. Turkey has been struggling with devaluation of their fiat currency for years, although it has truly skyrocketed in 2022. A very high rate of inflation is bad for the country because it normally means the prices rise up too much, the salaries and other payments can't catch up, people are getting poorer. It's also unhelpful for popularity of a politician. DW article on Turkish inflation doesn't even mention the military, not does Euronews. In the meantime, the way op wrote about it being done intentionally to spend money on the military and actually being stronger while appearing weaker makes it sound as if it's an actual fact, not a mere assumption.
Even if it's related to military spending, one could easily argue it the other way around: Turkey might be overspending on the military, which has a negative impact on the economy (although in case of Turkey I'm not convinced in that). As for Russia, it managed to stabilize their fiat last year, following the invasion and sanctions, but there's only so much a country can do while facing heavy restrictions and vastly overspending on an imperialist war, so trying to portray Russian inflation as intentional is bizarre.
1106  Bitcoin / Bitcoin Discussion / Re: As I was browsing Charles Schwab's crypto offerings.... on: August 22, 2023, 02:19:08 PM
Thanks for this post. It's been somewhat confusing to me what some Bitcoin trusts are actually about as well, and it was interesting to read about various options combined in one post. I didn't think people bought things like Coinbase stocks if they were into the crypto market, and Grayscale's idea of "exposure to BTC" without "the challenges of buying, storing, and safekeeping" (taking it all from their official website) is still really weird to me. I don't get why a person can't just buy cryptos, store in a non-custodial wallet, and then sell when feeling like it. There are no challenges here, no need for a trust.
1107  Economy / Economics / Re: How to avoid over expenses and have discipline on: August 20, 2023, 03:09:08 PM
Making a realistic budget is a great tip. It's really important to understand what's possible to achieve, what's going to be a big strain on one's well-being or physical health to achieve, and what's not realistic at all.
Then as for the second one, there are things that a person should fight, but there are also those that might already be replacing worse tendencies, so perhaps allowing some expenses to counteract those other things can be reasonable and should count as medical expenses, pretty much, because you'd probably need those otherwise.
And sometimes a person isn't prone to luxury, and the opposite of only spending money on the things you really need can lead to a boring life.
1108  Economy / Economics / Re: Cryptocurrencies are now playing a major role in regulating the economy on: August 20, 2023, 02:51:22 PM
Op, I realize you're new here, but when you share data from a survey, you really should include the link to the survey in the post. I assume the op is talking about this survey (based on 53% believing that crypto has a future). The survey was done by a company that specializes in cryptography, not by a sociological polling company, so it's hard to assess how representative it truly is. If it's just a survey they did online, it can be representative of people who are already pro-crypto or curious about cryptos, for example, but not the general population. Also, crypto as the future of finance is a very vague statement, as people could mean a lot of different things by it.
1109  Bitcoin / Bitcoin Discussion / Re: Financial Revolution with Bitcoin and Feasibilities on: August 20, 2023, 02:31:39 PM
Op, I agree with you that Bitcoin isn't waging a revolution against anyone, but is merely something that provides a financial alternative to traditional means of payment. People who use Bitcoin come from all sorts of backgrounds and with various attitudes. Some are pro-government, some are anarchist, some are Bitcoin maximalists, some just view it as a promising asset. Bitcoin can be many things and can be used for the purposes of revolutions, but it doesn't make a person committed to revolution.
That being said, something can be revolutionary in a sense of scientific revolutions, life-changing inventions. And Bitcoin can be called revolutionary in that sense, without requiring an actual revolution.
1110  Bitcoin / Bitcoin Discussion / Re: No, Elon Musk's SpaceX Isn't the Cause of This Multi-Billion-Dollar Bloodbath on: August 20, 2023, 10:50:43 AM
Yeah, Elon Musk's influence diminished, and I don't think it's significant on the Bitcoin's price nowadays. So the assumption that SpaceX is to blame for the decrease of the price isn't convincing to me either.
10% isn't nothing, but it's not that big of a deal either. An explanation that the drop is due to the market's nature seems reasonable to me, although I wouldn't look for any explanation when a price is down 10% because it's not a huge drop when it comes to Bitcoin.
1111  Bitcoin / Bitcoin Discussion / Re: Is it worth it to teach older people about bitcoin technology? on: August 20, 2023, 10:33:45 AM
A lot of people mentioned that it should depend on the interest of older people in Bitcoin, and I agree with that. Age shouldn't be held against a person, and there are some old people who want nothing to do with tech, which is their choice to make. If the situation is different and a person want to learn stuff, it's good to teach them. But similar things can be said about young people: if someone doesn't want to learn about Bitcoin, there isn't much sense in trying to teach them.
When it comes to old people, I think it's also very important to focus on scam prevention: what sort of strategies scammers in general and crypto scammers specifically employ, how to avoid getting scammed, etc. Young people can be more aware and/or less financially capable than old people in this regard, and unfortunately, scammers often try to target old people, relying on their lack of basic knowledge of those things and access to money.
1112  Bitcoin / Bitcoin Discussion / Re: Why Bitcoin Instead of Gold? on: August 19, 2023, 03:16:52 PM
The topic was certainly discussed before, but perhaps the overall opinions change over time, so let's do this.
Gold is a physical thing, so you need to buy it somewhere and physically store it somewhere. If it's a bank, you might worry about a robbery or the centralization of storage. If it's in your flat, someone can notice/you can forget where you put it, there's also a robbery risk, etc. Also, if you need some cash, selling BTC for fiat can be done pretty fast and easily online, but selling gold is again a whole thing.
To me, these are the top concerns and why I choose Bitcoin over gold.
1113  Economy / Economics / Re: The Impact of Russian African Alliance on World Economy on: August 19, 2023, 02:55:11 PM
I do believe in Africa's eventual prosperity, and that it's an underestimated continent. But it's still struggling a lot, following a long colonial history that made sure that what Africa can give to the world would be systemically undervalued, and that regions would simply be exploited by the richer nations. So for now, it's not looking good overall, with high rates of violence and poverty, very high rate of corruption and low GDP, a lot of dictatorships, etc.
Russia plays their card of opposing Western imperialism really well with Africa, making sure it is seen as the strongest force actively opposing the countries that made things so hard for Africa. Too bad that many countries don't care to see that Russia still follows a strong imperialist mindset, and it led to lots of colonization and suffering of other nations as well.
But whatever's going on there, it's small in comparison with Western economies and solidarity, so I don't think there will be any measurable impact of this alliance on the World Economy. Russia is slowly drowning because of the war it's waging against Ukraine, and it's going to drag other countries along with it.
1114  Bitcoin / Bitcoin Discussion / Re: Is regulations among the key factors that affect the price of Bitcoin on: August 19, 2023, 02:29:27 PM
A lot of people seem to agree that regulation has significant impact on the price, at least as long as we're talking about a country that has a big economy and carries a lot of influence. But to me, it's not about the regulations as much as it is about the news. Remember that time in 2018 when the news was circulating that South Korea is restricting Bitcoin usage? It wasn't even true, I think, but the rumours were big enough to contribute  (or at least strongly correlate with) to the rapid decline of the price at the beginning of 2018. And sometimes bills are introduced but don't have much effect. So I think it's more about how it's covered by the media than about the actual legislation.
1115  Bitcoin / Bitcoin Discussion / Re: First Spot Bitcoin ETF in Europe Listed on Euronext Amsterdam on: August 19, 2023, 02:11:19 PM
This ETF is registered in the Channel Islands, which is, of course, outside the EU and sort of outside the UK as well. It is on Euronext Amsterdam, with the current price of $18, but I'm still not convinced how big of news that actually is. I mean, the registration isn't in the EU, there's no info about legislative approval of financial regulators in the EU, and it's just de facto listed on Euronext stock exchange.
In any case, the buzz about the difficulty of an ETF approval was all about the SEC in the US, not about the EU or something that isn't even registered in the EU.
I'm happy they achieved something, but it seems that this achievement might be overestimated.
1116  Bitcoin / Bitcoin Discussion / Re: My dream is coming close. on: August 19, 2023, 01:47:00 PM
Op, I don't know where you live and what sort of income is realistic there, but I understand your dream of 1 BTC and admire your dedication to it. I hope you'll succeed and eventually accumulate it, but I also hope you won't leave the money untouchable forever, as BTC is only beneficial when a person actually gets to use it. So if you know what sort of stuff you can eventually spend it (or a part of it) on, it's great. For now, you're working on getting the amount, but then you'll need to figure out when and how to let go to actually enjoy the funds.
1117  Economy / Economics / Re: How to developed your capital on: August 17, 2023, 02:32:53 PM
I assume the op's 75% is just a rough estimate based on personal experience, not any actual research on what people struggle with. If not, it would be great to see a link to that estimate.
It's also nice to see various people pointing out that things depend highly on a society at person's in, and often being unable to accumulate wealth is not an individual's problem, but is due to structural issues, a very poor country, etc.
Not spending more than you earn is a norm is many societies, but I also feel like it doesn't apply in others, such as the US, where you are expected to have student debt and other types of debt to get the stuff you want and often the stuff you really need.
Some people do struggle with saving money, and that, of course, is not helpful to develop one's capital. But as for investments, people often lose money this way, so it's a hard thing to assess.
1118  Economy / Economics / Re: Netherlands enters a technical recession on: August 17, 2023, 02:14:46 PM
The website says that the wage grew above inflation, which seems good to me. I mean, yeah, the economy is not growing, and that's not great, but is it really that bad if a country is at a decent state when its economy stabilizes? The Netherlands is 11th in the world in GDP by capita, and 17th by GDP in the world overall. They have a pretty low unemployment rate, and percentage of people below the poverty line. I think when we talk about stagnation, it's really important to note the difference of stagnating somewhere near the top and stagnating when the country's economy is terrible, even with constant growth.
1119  Bitcoin / Bitcoin Discussion / Re: Bitcoin vs. the Dollar (Traditional Money vs. Digital Innovation) on: August 17, 2023, 01:45:01 PM
The USD is not interconnected with Bitcoin. Others pointed out that there's no strong correlation between the two, and that they are incomparable by the scope of usage and influence. I see various explanations in the thread, but honestly, I think that the op might just be confused when asking about the decrease of BTC value when the USD value rises. We measure the value of Bitcoin in the USD for convenience, it doesn't mean that they're literally connected with one another. And the value of dollar doesn't really rise. That would be deflation, and the USD is slightly losing value most of the time, just as fiat is meant to do (inflation).
1120  Economy / Games and rounds / Re: Sportsbet.io ⚽ São Paulo FC ⚽ Prediction Contest ⚽ (Saturday, August 19) on: August 17, 2023, 01:25:14 PM
a.  Draw
b.  1-1
c.  SPFC
d.  Under
e.  No
f.  28'
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