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11201  Economy / Gambling discussion / Re: Indian Super League (ISL) Football match updates, predictions and discussions on: March 04, 2021, 03:16:03 AM
This is the main thing. India does not have a player to replace Sunil Chhetri. They have lots of young players. But there are very few talented young players. Each team in the super league is dependent on foreign players. Foreign players dominate the super league. I am skeptical about when the good days of Indian football will come.

After Bhaichung Bhutia, Sunil Chhetri was the big name in Indian football. If he was playing for any other country, then he would have achieved a lot of success and fame. But India is ranked much lower in the FIFA table, and no one really notices the matches played by the national team. Right now there is no one to replace him. I hope things will change in the future. That's why we have the ISL. Hopefully younger players will emerge.
11202  Alternate cryptocurrencies / Altcoin Discussion / Re: Is Polkadot going to Kill Ethereum? on: March 03, 2021, 05:31:38 AM
ethereum has discussed the handling of transaction cost issues which they say will be resolved by the middle of this year. polkadot is indeed a tough competitor but there are still ADA and BNB as you mentioned. both have more potential. But polkadot are not going to kill the ethereum market or community.

Out of all these coins, I believe that Cardano (ADA) is the most technically advanced one. The developers are working hard to resolve various issues, and they have been successful to a certain extent. Ethereum is a second generation cryptocurrency, and it will become obsolete within the next few years, and will be replaced by various third generation cryptos. The extremely high fee will make sure that the shift occurs soon.
11203  Bitcoin / Bitcoin Discussion / Re: Lowering the electricity bill by mining cryptocurrency on: March 03, 2021, 05:16:06 AM
Despite technology advancing at such a fast pace, I am still not witnessing much progress in reducing the electricity consumption by the mining rigs. They still eat up a lot of electricity. For miners, in the long term electricity costs are more than their capital costs. Although electricity has become cheaper over the years, a lot of people take the electricity usage by Bitcoin mining rigs as an excuse to attack cryptocurrency.
11204  Economy / Gambling discussion / Re: Test Cricket Prediction and Discussion Thread [self - mod] on: March 03, 2021, 05:05:12 AM
England lost the toss in 2nd match and lost the game.
England won the toss in 3rd match and lost the game.

So i think we should give some benefit of doubt to toss-factor this time and let's hope that England might show some fight and India not taking things lightly. Aussie would side with the poms for the next game, they need England to win so that they can qualify for the finals.  Grin

Third match was D/N and therefore the importance of toss was reduced. But that doesn't take away the fact that England batsmen failed horribly despite batting first. Anyway, the last match start tomorrow and it is going to be crucial for all the three teams (India, Australia and to an extent England). The question is whether the WTC final will be between New Zealand and India, or NZ vs Australia. Both the scenarios look exciting.
11205  Economy / Economics / Re: JP Morgan says large firms will not follow Tesla's bitcoin move on: March 03, 2021, 04:55:23 AM
I am more into this thought. I believe a lot of companies are already buying their bitcoin, however, they are keeping silent because of the potential problem with SEC or their government. In time, some of them will disclose their crypto investments to the public. I don't think only MicroStrategy, or PayPal and other few are only buying. They are more of them already.

I don't think that any of the publicly listed companies are hiding their Bitcoin purchases. Private companies can do that, but it is illegal for publicly traded companies to do so. For now, most of them are taking a "wait and watch" stance. With Janet Yellen and others in the government warning against the usage of cryptocurrency, I don't expect a lot many companies to jump in to the bandwagon too soon.
11206  Bitcoin / Press / Re: [2021-02-23] Yellen sounds warning about ‘extremely inefficient’ bitcoin on: March 03, 2021, 04:32:55 AM
You mentioned two major risks here: so far regulation, both on the tax and the licenses side, has not been able to circumvent or direct bitcoin advancements.
Bitcoin is still running on its own and late-adopters (institutional, banks, wealth managers etc.) are jumping onboard to avoid missing the party.
Surely, this is a never-ending fight and I sincerely hope that bitcoin will keep running no matter how tough the external circumstances may be.
 Smiley

It is a difficult choice for the governments. They know that rising popularity of Bitcoin is a threat to their power. But at the same time, they realize that they can't ban Bitcoin because it is completely decentralized. By arresting a few masterminds or raiding mining farms, they can't destroy Bitcoin. There is only one way to put down Bitcoin, and that is to destroy internet altogether. I really doubt whether they will go that far.
11207  Bitcoin / Bitcoin Discussion / Re: How do I convince people that Bitcoin isn't a financial pyramid? on: March 03, 2021, 04:19:17 AM
Pyramids and Ponzi schemes won't last for more than a few months, because at some point the mastermind will decide to cash out and will vanish with most of the funds. Bitcoin has been in existence for more than 12 years now and there is no "mastermind" since it is completely decentralized. There was no premine and therefore even the creator of Bitcoin (Satoshi Nakamoto) never profited from his invention in any manner.
11208  Economy / Economics / Re: Why should i invest in bitcoin or other cryptos ? on: March 03, 2021, 04:05:17 AM
There's two side on this and I agree that he shouldn't invest on crypto which doesn't have any good future nor have a good systematic planning since if he invest without doing a research he might get fall from scams and other pump and dump scheme as you said. If people are new into this maybe better to go with bitcoin Ethereum and other top since this is the basic and got a good reputation on their investments.

If you are going for a coin that is outside the top-20 list, then you need to do proper research about its future potential. Out of the 10,000 or so different cryptocurrencies created so far, more than 90% are now dead or dormant. If you make investment in the wrong project, then you may end up losing all of your capital. For now, I would stick with the already established coins, such as Bitcoin, Cardano and Ethereum.
11209  Economy / Gambling discussion / Re: Test Cricket Prediction and Discussion Thread [self - mod] on: March 03, 2021, 03:49:35 AM
Anybody watching the Afghanistan vs Zimbabwe test match held at Abu Dhabi. Afghanistan was all out at just 131 runs and Zimbabwe are now 133/5. Though Zimbabwe is also now not that strong anything is possible though Zimbabwe has an advantage that they still have 5 wickets and already 2 runs ahead. But Afghanistan can wrap up last 5 wickets quickly with not much lead then they will need to bat well in second innings to create some pressure back on Zimbabwe.
I thought about placing a bet on Afghanistan to win the match but when i saw the team i could not recognize the team members and their best players are playing franchise T20 matches and hence not available to play for the team and hence i thought it would be risky to wage a bet on the match. If Rashid Khan or any of their recognized players were included then it would be an easy bet but not sure about it when you are not sure about the players.

A few days back, Rashid Khan was complaining, claiming that Afghanistan doesn't get much opportunities to play against the top teams. But if they perform like this, then why should the top teams play against them? The squad selection was also poor. They went for a very inexperienced side. Zimbabwe on the other hand had a mix of experienced and inexperienced players and that gave them the advantage.
11210  Bitcoin / Bitcoin Discussion / Re: India makes ownership of Bitcoin criminal offense - How to respond? on: March 03, 2021, 03:37:06 AM
Since you are talking about Unocoin ATM situation, the case was squashed by the court recently even though the cops took a stern stance and arrested them but the lawyers were able to convince the judge that it is just a kiosk and not an ATM .

The guy who installed the kiosk spent some time in jail. What is the use if the case gets quashed by the court after one or two years? He faced a lot of harassment as his house was raided and his personal belongings (phones, laptops.etc) were taken away. This is the price Indians have to pay for trying to popularize technological innovation. And it is not surprising that 99% of the Indian techies migrate to the United States at the first available opportunity. Just imagine how the Indian economy could have benefitted, if people like Sundar Pichai and Satya Nadella had stayed in India. But it seems as if the government don't want these people.
11211  Economy / Gambling discussion / Re: T20 and T20I cricket prediction and discussion on: March 03, 2021, 03:27:13 AM
I agree, maybe they need more strict rules like if a player does go out and mixes with the public then they could receive a fine or even suspension. I have seen this happen in other sports when players break the rules by going out side the bubbles. They are set up for a reason to help protect the players and the tournament. So I think if they introduce strict rules then it might stop players from going out side the bubble/hub.

The latest news is that two more overseas players have tested positive for the virus. PCB hasn't released the names, but in the statement it also mentions that a few of the supporting staff have also returned positive results for COVID 19. This tournament had such a great start. And after all that, now there are doubts about how the new positive cases will affect the remaining matches.
11212  Bitcoin / Bitcoin Discussion / Re: Tesla Bitcoin purchase on: March 02, 2021, 05:01:06 AM
Even though its just news that Tesla bought a large amount of Bitcoin, their stock value is still dropping and they are trying to link it with the purchase of Bitcoin. Nobody knows for sure why Tesla bought Bitcoin but its Elon's decision and if he wants to advance his company with the use of Cryptocurrencies, he can do it. Its also a big move for Tesla because other car companies are trying to follow with integrating their systems with the use of Bitcoin and other Cryptocurrencies. This just means that what he did affected the lots of industries and its great for Cryptocurrencies because they are having that credibility that they needed to boast publicly.

I checked the TSLA stock price and it looks stable to me. Ever since January 2020, the prices have risen by almost 800% (more than that of Bitcoin). And I don't think that they can link any potential downside with Bitcoin purchase (I haven't heard any such statement from their officials). Because the Bitcoin purchase was hugely beneficial for TSLA. They purchased BTC worth $1.5 billion two months back and now they are having an unrealized profit of $900 million. This should actually pump their stock, not cause a decline.
11213  Bitcoin / Bitcoin Discussion / Re: Bitcoin needs more women. on: March 02, 2021, 04:51:56 AM
In my opinion, it is not realistic to say that there are not enough women in the crypto world for the simple reason that there are various factors.

First, crypto users have complete anonymity and we are not sure how many women deal with Bitcoin and other crypto coins.

Second, the crypto world is completely free, unlike large corporations and banking institutions. There is no way anyone can stop a thirst to start crypto, unlike corporations, where there may be a human factor in hiring or promoting people.

Being a woman, I have to admit that males are more open to using Bitcoin compared to females. When I started using Bitcoin for the first time in 2014 (after coming to know about it through my husband), I tried popularizing it around my friend circle. It was not easy, as many people accused me of promoting a scam. None of the women whom I talked to were ready to listen to me completely. For them, Bitcoin was another internet scam. The men were not much better, but I found a few who were interested in the new innovation.
11214  Economy / Economics / Re: Bitcoin will replace oil and Gold on: March 02, 2021, 04:34:41 AM
I totally agree with you. I really don't think some people get it, just because we all like Bitcoin and we all are looking for financial freedom don't mean some Hundreds of years well established resources have to die off just to make a point. I don't understand why people will be saying Bitcion will replace Banks, Money Gold and the likes, these are resources that have actual human use, we are not going to mint bitcoin as a replacement for our gold rings, earrings and the likes or generate the power for your homes or fuel for everything that uses fuel. This shouldn't be about replacement but coexistence.

Satoshi wanted to provide an alternative to ordinary people, who were being exploited by the banking sector. I don't think that he ever wanted a complete eradication of the mainstream economy. It is laughable to say that Bitcoin will replace oil and gold. You can say that electricity can replace oil, but how Bitcoin is going to replace it? And gold is being used as a store of value for many thousands of years. Even if Bitcoin becomes hugely successful, why the gold owners should dump their assets? 
11215  Bitcoin / Bitcoin Discussion / Re: BTC vs GOLD on: March 02, 2021, 04:20:38 AM
And gold isn’t even anywhere near bitcoin in terms of portability, scarcity, divisibility and security.... what we are about to experience in coming 10 years as regards to bitcoin price and ecosystem is going to defy any logic humanity has ever seen.

Gold has its own advantages. The factors that you have mentioned (such as portability and divisibility) are not among the merits of gold. Gold is in use for many thousands of years and it is accepted all over the world. However, if you are looking for a semi-liquid asset that can be easily transferred, then gold is not the suitable candidate. However in terms of scarcity, gold is similar to Bitcoin. Easily extractable reserves of gold are already exhausted and now it needs to be mined from less-profitable deposits. That means that the cost of production will go up in due course of time. In theory, mining of gold and Bitcoin mining are very similar.
11216  Economy / Economics / Re: JP Morgan says large firms will not follow Tesla's bitcoin move on: March 02, 2021, 04:01:20 AM
Strictly speaking, it is impossible to say that Mastercard and Paypal invested in Bitcoin. Mastercard and PayPal simply allowed transactions with bitcoins to be made on their platforms, but using only their infrastructure. Therefore, strictly speaking, we can really say that only Tesla invested in bitcoin from the major players, which in itself looks a little unnatural and risky due to the small income from the business of Tesla itself.

Tesla's business itself is risky. And it is even more risky to invest in the Tesla stock, which is having a P/E ratio of more than 1,000. They took the risk and were rewarded. Bitcoin prices have risen by more than 60% ever since they purchased their coins and that translates to roughly $900 million in unrealized gains for Tesla. I guess this is more than their net income for the entire year from their main business.
11217  Economy / Economics / Re: Could Bitcoin Smash Socialism in Venezuela? on: March 02, 2021, 03:50:55 AM
Socialism is more like an implemented political current, where even the main protagonists of socialism in Venezuela must own cryptocurrencies and bitcoin, because the government has mining machines to generate Bitcoin.

Actually Iran tried with Bitcoin mining, as a way to get around the embargoes and sanctions that were imposed by the United States. Venezuela can also do the same, as it will be impossible for the Americans to prevent Bitcoin transactions. But then there are major questions. How cheap is the electricity in Venezuela? Bitcoin is highly energy intensive and they need cheap electricity if they want to mine Bitcoins at a profit. And the most important question is whether they have access to mining hardware or not. Aren't these covered under the sanctions?
11218  Bitcoin / Bitcoin Discussion / Re: India makes ownership of Bitcoin criminal offense - How to respond? on: March 02, 2021, 03:40:10 AM
These politicians will never think about the people involved with any kind of business. They go with a plan and execute it as planned. They never look for the suggestion or survey from the people who are the making use of it. In India there is nothing to worry about the ban of cryptocurrencies, because I came across an article stating about political influencers owning large mining farms. This means mining is being set similar as an industry, but none were aware of it.
This is the first time i am hearing about this story, from where you got this breaking story about political influencers owning large mining farms. I have not seen any huge mining farms in India even though i have seen smaller ones because the cost of setting up a big farm is huge and then to control the temperature inside the farm is a big task.

Waiting for hear what the government is planning to implement, either way i am not that worried as i will find any alternative options if they come up with stupid laws.

I agree with eaLiTy.

I have never heard about any large-scale Bitcoin mining activity in India, because it is not profitable. First of all, it is almost impossible to get the necessary licenses and permits to start such an operation, since Bitcoin falls in the "grey area". And then there are practical difficulties. During the summer time, temperatures can rise to as much as 45 degree Celsius and therefore additional cooling requirements are there. Electricity is more expensive when compared to the other countries and finally the mining hardware needs to be imported from China (by paying a steep excise duty). I don't know how the mining farms in India can compete with those in China and Russia, given these circumstances.

One possibility is that there may be a group of people who want to convert their unaccounted money in to Bitcoin. In such cases, they can go for mining. But now that possibility is also not there, since Bitcoin itself is illegal in India. So why should they convert their wealth from one illegal asset to another, that too at a loss?
11219  Economy / Gambling discussion / Re: UEFA EURO 2021 Discussion Thread | Current Phase: Qualifiers! on: March 02, 2021, 03:30:11 AM
I have ear a rumor.

They are pushing to get more games possible in England since they are doing the massive vaccination and their Premier said they will open stadiums in the mid of May.
They wants people at the stadium to generate money, it will even a sadder cup if we can see people in 3 games while the rest will have not due to the incompetence of other states.

The pandemic is really unpredictable and right now it is difficult to predict what will be the situation in May. Till now, the UK has completely vaccinated (i.e two doses being administered) only around 1.2% of its population. The daily number of deaths still stand at three digits, which is higher than other countries such as Turkey and Azerbaijan. And the new strains can make forecasts useless. UEFA need to go along with the current plan, IMO.
11220  Economy / Gambling discussion / Re: Test Cricket Prediction and Discussion Thread [self - mod] on: March 02, 2021, 03:20:41 AM
The pandemic might be the reason they are playing the matches in the same stadium. The first two matches took place in one stadium and the next two in another stadium. What i am waiting to see is whether they will be playing in the same pitch or another pitch  and with WTC entry on the line i think it is safe to bet on India to win irrespective of the toss as the last match showed that toss does not make a difference in this wicket.

It is definitely going to be a new pitch, although I don't really expect the ground conditions to change drastically. The pitch for the third test match was used only for two days, but by then it had disintegrated completely. I disagree with you on toss. It is still having a huge impact on the outcome and if England wins the toss, then the match is going to be very competitive.
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