The prices going down are the only good thing about a crisis; nobody complains about falling prices in energy prices or electronics; restrain for consuming because prices have been a bit lower than last year and the fact that consumers anticipate lower prices thus delay their spending is a TOTAL myth : who would delay buying gas if the price goes down by 1% or even 5%? Who would delay buying gas if he thinks the price will be 1 or 5% less in a year?? Who would delay buying anything because the price went down?? You will wait a year to buy food, a haircut, clothes, a vacation because you think it will be a bit lower in a year??
When the prices go down you are happy and richer so you buy more
Consumption is a an indirect utility function of the price meaning that consumers consume more not less when the price is lower thus they consume more when the price goes down, it has been proven each time a price has been going down
Most of your examples are necessities that have fairly inelastic demand. Without major lifestyle changes, you still need about the same amount of gas, food, electricity, etc. When you need to cut expenses, you generally look at optional purchases. Can a new computer wait until next year? Can I get by with this old car for another year? And all of that aside, have you never waited for a sale, or a better sale than the current sale, to buy clothing or a vacation trip? Have you never postponed filling your gas tank because prices are falling and you have a pretty good idea from experience that they will be a few cents cheaper next week (assuming you don't need to fill your gas tank every week)? Also keep in mind that in a deflationary environment, as a whole, wages also drop along with prices (where a "drop in wages" may come in the form of job cut). If I think I'm going to be making less next year, or if I fear I will lose my job, then I'm going to save every penny I can this year. That kind of mentality leads to less spending and further slowing of the economy. Less spending means the society is saving and make efficiency use of capital. Compare to the west, citizen of the east save at least 20% of their earning, low interest rate allowed the state to take on mega infrastructure project that will benefit the local citizen in the long run. Saving is indeed wise and important. But there's a difference between saving and hoarding. I'm talking about the latter. Even good savers will still spend a little money here and there on unnecessary things like going to movies or occasionally getting a new computer or smartphone. But if everyone cuts out all those extras, it will hurt the economy. A country is rich when its currency is strong without inflation or with deflation, low taxes, low government, free entreprise, high rate of savings and investment |
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Brazil and Netherlands is like a world cup final game!
There are still two matches to decide if those two play against each other. And .. Brazil is not team for a final the way they play now. They don't play as well as expected but they are still here, they still have neymar and they are still at home for this Man the world cup is coming to an end soon! no games the next two days  8 matches remain (7 if we exclude the match for 3rd place which no-one ever takes seriously) watchwoord : it really starts now! |
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I don't believe a man who has gained 3M USD would ask an advice about investments on forum  I second that motion I disagree as it may be part of its due diligence on the matter since bitcointalk obviously has some very good Bitcoin experts These forums may have "experts" however it is very difficult to determine who is an expert and who is full of BS. The advice found on these forums is also significantly biased to the buy side for bitcoin Yes indeed but he could have get to know something from the discussion that followed his post : JD, innovators contacting him by PM and it made him think about it one more time; my point is it is not negative to create a discussion if you are careful with what you do with the answers |
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dooglus should start to reduce the amount of users with open demands by deleting all dust accounts.
There are probably players with a balance which doesn´t even cover standard bitcoin transaction fees.
No one would care if he loses 1 mBTC or something like that.
He has always treated members equally wether they had a huge balance or a small one -withdraws are being made -members that have their account blocked by F2A will start to withdraw -emergency addresses -then we can talk about the dust addresses, escrow ect. |
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I think you can add most countries in the world,Argentina are not alone the economies are all drowning in debt, all they can do is print Not all; countries with natural ressources, hard workers, low taxes, and small government will come out on top and they are........? Please someone answer this! Singapore has quality worker and little to no natural resources. It seems to be doing fine. China has cheap and hardworkers, low taxes. They are also doing fine. Saudi, Iraq and Iran have huge natural resources. Population is not doing ok despite the oil wealth even before US invasion. Don't think one quality is sufficient obviously like in real life! But my point was everyone will suffer of the USA collapse in the short term but a lot of countries will fair well and may even benefit of the end of the USD reign; the USA will probably not die without a fight and it's a giant so it will survive then hopefully shine again when it will be again the land of the freedoms Why would everyone suffer? Only because of sudden changes that can occur. USA does not currently produce the wealth of the world and distribute it all over. After the first world war, maybe. Nowadays, USA mostly export money, and receive goods from foreign producers, stacking up debt in the process. The world economy is very integrated so the wave of something as big as the reserve currency that collapses will hit hard many companies, banks and countries; there will be a period of adaptation : a few months for the lucky few, a few years for those who are well prepared and more for the other In 10years, a middle class and even low middle class chinese will live like a King in holidays in the States |
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Is there a way to see how many post you had when you enrolled for the purpose of your own record keeping? Without a starting post anymore and the PM's to see how many post you've claimed for before it is hard to keep a personal track of your post count.
I think currently no way just you can write on your own behalf for all record Stunna updating google doc hope in near future you will able to check this here on forum This is going to make it incredibly hard when it comes to claiming on the 17th as no one is going to know how many posts they have made unless they enrolled on the 17 exactly. Stunna, you should probably update the members list with a starting post count or a post count at the point of the last claim as its impossible to know what you starting count was. No I noted in my personal data how much I entered in this link because its important for my personal information what I done and what I am going to claim on next month Thats great for you, congratulations, that doesn't help anyone who didn't though does it... Oh and please don't say "ah well you should have done it" as there will be plenty who didn't and it also doesn't solve the inherent issue, its not a big deal, all it takes is putting a post count alongside the members list, would take two seconds. Thank you! Have been bringing this issue since June 18 or 19 I heard news about him upping it by up to 50%, what happened to that?
He said he'd raise the fees in May, when we were looming around 400$. Don't think it's happening anymore  Not many were betting on his return; did he pay everyone who is still in? I heard news about him upping it by up to 50%, what happened to that?
Competition shut down so there was no need to up the rates, that and the price of bitcoin went up. With some viable competition again, Stunna will likely raise rates again. With Bitcoin at 650$ he probably won't, let's hope we keep those rates and Bitcoin continues to go up |
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Had to share it : https://www.youtube.com/watch?v=X4n6nJ8FiF4The government is considering erasing the student debt which means it would go into debt to pay them back then provide more public education which means it will go more into debts and raise the costs of college! |
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Unlike all the predictions of skyrocketing , I think Bitcoin will fall horribly.
Nobody wants their money invested in anything volatile when they are likely to lose it all.
Hence , most people would divest causing Bitcoin to fall at any time of a major crisis.
Bitcoin's rise relies on the public feeling economically secure.
HAHA hope you were being sarcastic because if not it is a terrible analysis since people will buy bitcoins to protect themselves; you are going to say people buy Gold when they feel economically secure? |
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Every expected teams qualified quarter finals. It was tough for most of them but they can achieve it. I'm waiting Bra - Ger and Net - Arg semi finals.
Then Brasil-Argentina or Germany-Argentina for the finals and Argentina will come out on top! |
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It is great they want to spread the bitcoins and sell them for a profit Their point is excellent : having bitcoins is protecting itself against weakening governement currencies |
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Possibe legal issues for Doog to keep coins much longer,imo.
Give a few more weeks, send some emails that emergency withdrawls are going to be processed to the addresses that was put in the emergency address position. Then the coins that dont have emergency addresses get kept as a donation after 2 months if not redeemed, post here, redit and the JD site.
Wait, what exact legal ramifications does doog have as an effective sole trader who is simply closing his accounts (albeit in BTC)? I don't exactly see how likely they'd be to come after doog for freezing site and trying to disperse the funds to their legal owners... As an "escrow" holding coins he is transferring currency now and thus would need to get information on the people he is transferring too. Remember having to send license ID, utility bills to Gox and Bitstamp last year to get your funds out. Pretty much the same thing imo now. The new canadian law makes what he is doing clearly illegal; giving the hot potato to an escrow solves his problem but the escrow needs to be very trustworthy as he will handle usernames, passwords and BTC which doog may not be confortable with When investors and players who have their account blocked because they lost their F2A will withdraw and those who have an emergency address registered will received their funds as well, there will probably not be much left anyway since investors/players are probably still withdrawing as we speak |
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The prices going down are the only good thing about a crisis; nobody complains about falling prices in energy prices or electronics; restrain for consuming because prices have been a bit lower than last year and the fact that consumers anticipate lower prices thus delay their spending is a TOTAL myth : who would delay buying gas if the price goes down by 1% or even 5%? Who would delay buying gas if he thinks the price will be 1 or 5% less in a year?? Who would delay buying anything because the price went down?? You will wait a year to buy food, a haircut, clothes, a vacation because you think it will be a bit lower in a year??
When the prices go down you are happy and richer so you buy more
Consumption is a an indirect utility function of the price meaning that consumers consume more not less when the price is lower thus they consume more when the price goes down, it has been proven each time a price has been going down
Most of your examples are necessities that have fairly inelastic demand. Without major lifestyle changes, you still need about the same amount of gas, food, electricity, etc. When you need to cut expenses, you generally look at optional purchases. Can a new computer wait until next year? Can I get by with this old car for another year? And all of that aside, have you never waited for a sale, or a better sale than the current sale, to buy clothing or a vacation trip? Have you never postponed filling your gas tank because prices are falling and you have a pretty good idea from experience that they will be a few cents cheaper next week (assuming you don't need to fill your gas tank every week)? Also keep in mind that in a deflationary environment, as a whole, wages also drop along with prices (where a "drop in wages" may come in the form of job cut). If I think I'm going to be making less next year, or if I fear I will lose my job, then I'm going to save every penny I can this year. That kind of mentality leads to less spending and further slowing of the economy. What about smartphones it is not a necessity but people buy more even when they know the price has been going down and is likely to go down When the price goes up people can consume less Salaries going down are a bad effect of a crisis and it is upset by the deflation of prices which is excellent |
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I think you can add most countries in the world,Argentina are not alone the economies are all drowning in debt, all they can do is print Not all; countries with natural ressources, hard workers, low taxes, and small government will come out on top and they are........? Please someone answer this! Singapore has quality worker and little to no natural resources. It seems to be doing fine. China has cheap and hardworkers, low taxes. They are also doing fine. Saudi, Iraq and Iran have huge natural resources. Population is not doing ok despite the oil wealth even before US invasion. Don't think one quality is sufficient obviously like in real life! But my point was everyone will suffer of the USA collapse in the short term but a lot of countries will fair well and may even benefit of the end of the USD reign; the USA will probably not die without a fight and it's a giant so it will survive then hopefully shine again when it will be again the land of the freedoms |
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I'm shocked by people who suggest giving all the leftover money to an escrow.
Are you insane?
I'm not even elaborating on why, since it's so dumbly obvious.
If it's an honest escrow, if the escrow get a fixed amount every month, not a % of the money left, and the rules to recover the money are very clear (have username and password or x informations among a list) and if all the money is donated after x years, it could work fine; it is better than ending up in jail anyway, isn't it? It would be for investors and players that didn't recover their funds and didn't have any emergency address in the account |
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I always have a error after a few bets in automatic betting. Not found a way around it yet kind of a shame.
It doesn't happen to me but 've read the same thing from other players; you probably tried it already but an other browser may work better |
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I've decided that I would hire somebody else to trade some of it on the crypto market on my behalf. I'm a terrible trader. I'd put a portion of it in cheap coins and hodl. Probably spend the rest on a house, new car and have a bit in the bank...need a little bit of cash  Odds are the person who will hire will lose because he could trade with his own money or already for someone else; if you are not good in trading how would you know someone is good? Would buy every miner that I liked on the bay for 1 year
And you would end up with 800,000$ then what will you do? |
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It would likely increase in price as it did when crypress had it's banking crisis last year.
A financial crisis by definition put the financial stability of banks into question. When banks ability to pay depositors is questioned then people will have an incentive to look elsewhere to hold their money. Bitcoin is a likely answer to this
I entirely agree with you; Bitcoin and Gold will increase in price if there is a financial crisis; when the market will understand that the USD will be inflated to death and will be abandoned in world settlements it will benefit Bitcoin (and Gold) as well The likely scenario is the fall of USD, market panic, big banks failures, interest rates rise that will be fought by the FED via more QE then riots, marshall law and curfew in the US; the world economy is very integrated so everyone will suffer at first But China and countries that have natural ressources, low debt and/or work well/hard will come up on top while Europe and the US will not be as powerful relatively to other countries; they will still have a lot of human&financial&physical capital, attraction and ressources so they will probably bounce back if the people doesn't fall for the speech of extremists It really depends on the level of severity of a financial crisis. In the 2008 financial panic, the dollar and treasury bonds rose sharply as they are considered to be a safe haven. In general US banks were safe from runs on banks by depositors due to FDIC protection so I think your scenario would be unlikely. In a financial crisis, credit will generally contract, causing people to be able to spend less money, causing deflation. The Fed would attempt to use low interest rates to battle this deflation. Deflation for large economies is a bad thing because it goes into a positive feedback loop that ultimately result in lower economic activity (even after accounting for the lower prices) and lower standard of living. The prices going down are the only good thing about a crisis; nobody complains about falling prices in energy prices or electronics; restrain for consuming because prices have been a bit lower than last year and the fact that consumers anticipate lower prices thus delay their spending is a TOTAL myth : who would delay buying gas if the price goes down by 1% or even 5%? Who would delay buying gas if he thinks the price will be 1 or 5% less in a year?? Who would delay buying anything because the price went down?? You will wait a year to buy food, a haircut, clothes, a vacation because you think it will be a bit lower in a year?? When the prices go down you are happy and richer so you buy more Consumption is a an indirect utility function of the price meaning that consumers consume more not less when the price is lower thus they consume more when the price goes down, it has been proven each time a price has been going down So, as long as USDX is not going down, treasuries are ok (i.e. the debt can keep on growing) as well as the U.S. economy, right?
Hypothetically. This could mean everyone is killing their currency faster than the USA. However, countries with the exchange rate being lowered are now at an advantage. As they export goods, they can pay their employees more, and 80% of the time the purchasing power of the currency stays the same, unless something REALLY goes to crap. If they start paying their employees more, that would cause inflation, and the purchasing power of the currency will not stay the same, especially if this process takes on (future expectations on inflation would invariably kick in). Inflation is the increase of the money supply, the increase of prices is a consequence of inflation and salaries are a price I used the word inflation in this context as overall price increases when currency is losing its purchasing power (as the word is primarily used in this sense). That is price inflation. OK, the "new definition" of inflation is indeed the increase of prices but inflation is really the increase of the money supply |
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Jun 30 14:42 - total: 3228
692, 378, 361, 314, 186, 143, 133, 119, 73, 71, 52, 43, 41, 29, 27, 26, 25, 24, 22, 18, 15, 14, 2*13, 3*12, 11, 2*10, 2*9, 3*8, 2*6, 4*5, 4*4, 11*3, 13*2, 56*1, 3786*0
Jun 30 21:53 - total 2600
692, 378, 314, 133, 119, 86, 73, 71, 52, 43, 41, 29, 27, 26, 25, 24, 22, 18, 15, 14, 2*13, 3*12, 2*10, 2*9, 3*8, 2*6, 4*5, 4*4, 10*3, 11*2, 55*1, 3781*0
Jul 1 16:45 - total: 2500 692, 378, 314, 133, 119, 86, 73, 71, 52, 41, 29, 27, 25, 24, 22, 18, 15, 2*13, 3*12, 2*10, 2*9, 3*8, 2*6, 2*5, 3*4, 11*3, 11*2, 53*1, 3784*0 Number of unclaimed sub-1 BTC accounts *up* from 3781 to 3784 when I loaded up the old hot wallets and found old dust deposits to old deposit addresses... 43 26 2*10...claimed I'm still kinda confused.
I'm not an investor of JD , but it would be great if you could update the OP to an explanation of what has happened or alternatively create a new thread about this.
What do you plan to do now ? Are you going to call it quits or are you going to start up again in some other form?
(I hope you have not already answered this)
I don't have any fixed plans. I have been in a lot of pain, on medication for it, and trying to focus on returning the coins. Of the 53,000 coins Just-Dice was holding, only 2,500 are left now. That's less than 5%. Over 95% of the coins we were entrusted with have been returned to their owners in just 8 days. I do hope to find a way to bring the sites back legally. I'm not prepared to comply with invasive KYC/AML regulations so if it's a choice between snooping on players and shutting down the site, I'll shut down the site. Hopefully there's an alternative where I can move the site to a more friendly locality which doesn't drive business away with silly regulations. If you do that you may want to renonce to your nationality and never go back to your home country |
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USA has some natural ressources and part of its population is hard working but they have a HUGE government to support
and they are burning the night oil printing The states have a lot of positive but huge negatives and unsustainable liabilities that will sadly undermine all the potential greatness; it used to be the land of the opportunity, freedom and free market and it became something else The fall of the USD will hurt most of the world but when the dust settles, China and other strong economies will come out on top; they will be the USA that used to be In the 50's one good salary was enough to support a whole family, a full time nanny without any debts; in the 70's americans were going in Europe and lived like kings; now two good salaries are usually not enough to live really confortably The situation in the 50's and 70's that you describe was an unsustainable boom era post WWII where most of the world's manufacturing base was destroyed and the US represented over 50% of the world's manufacturing base. That was always going to self correct after a generation or two, and did. The problem is that 50's to 70's boom era created a large sense of entitlement in the american mindset, and also created large government unsustainable great society programs. The hard work and self reliance mindset of the 1800's was replaced by an entitlement mindset. After the 70's when the rest of the world caught back up, the US resorted to printing and the petrodollar to maintain an illusion of the 50's to 70's era. When what it should have done is realized the folly of the post WWII path and returned to it's roots of hard work and self reliance. Now 3 generations have passed, and if the petrodollar falls the vast majority of the US will have no idea what to do. Everyone now turns to the government to fix everything, but if the government is no longer able to do so I seriously fear for what the government will turn into to do so. There are large pockets in the US that still try to do the right thing, but they will get swarmed in the post petrodollar crash. I personally think Argentina is the US's future. Just 100 years ago Argentina was one of the strongest economies in the world. Much of the today's US political and academic direction takes the US straight down Argentina's path. Your second paragraph explains it very well but you have a large percentage of the young generation in the US that understood everyone was worse off when the state was manipulating markets, growing too big and money was taken out of revenues and wasted : some hope is still possible for the US There is a whole world out there that is not the US; they are working hard, innovating, booming and not taxing too much (yet); vote with your feet? |
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I was just skimming through very old threads, its amazing how people used to talk about 100-1000btc (or more), like it was nothing. I hope for their sake they held on.
Hopefully in two years they'll say the same about "people who own 1 or more bitcoin" Will crypto win over fiat? Is BTC the winning crypto? As long as the answer to both of these questions is positive, just hold any number above BTC1 and you will be rich, and anything over BTC0.1 will be doing well, anything over BTC0.01 is above average, since the average guys will have BTC0.001 or less. It does not matter at all how much fiat someone has, until he buys BTC with it, he will have none. I was just thinking that at some point this logic (that even BTC1 is hugely valuable) should become widely known. It hasn't crossed that line yet though. The sentiment still seems to be that it is somewhat risky and highly speculative. When will the masses see the value in holding 1? I suppose this "knowledge" will be shown in the adoption rate but there might be a tipping point where it becomes more clearly obvious to a larger number of people. i don't think it's speculative, it just feels as if BTC1 is not enough to feel rich and be able to live the life i want to life. (Go on holidays with friends without having to work for a 'boss' and without having to worry about money). I feel i need at least about BTC10 to do that. But maybe i'll be surprised. I will still keep trying to increase my stash to as high as i can get it. The problem with bitcoin compared to fiat is that you don't easily earn interest on it, unless you invest it, but so far most investments are pretty risky, so i only feel comfortable having a fraction of my bitcoins invested. Of course the upside is that bitcoins don't inflate nearly as much as dollars, and after a while they will even start deflating. More and more people use bitcoins, more innovation, time and effort are put in and around the protocole and the world wealth increases while the number of new bitcoins released everyday will reduce overtime; they won't deflate though except if you are thinking at the moment where all bitcoins will be mined to the last satoshi and that some people will lose their bitcoins |
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