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121  Economy / Speculation / Re: Will Bitcoin Crash in The Next 2 Weeks? on: March 18, 2022, 02:50:31 PM
None know about the market for sure. But, what happened over the start of the month is the result of increased usage and more inflow of funds. Slowly things could change and now thats what happening with the market.
The increased usage isn't the only reason imo for what happened in the market over the current month. One of the biggest change will occur by tomorrow if the European parliament will vote for banning mining activities for both bitcoin and ethereum. The news was published yesterday and the crypto community should be aware of this :
https://www.bloomberg.com/news/articles/2022-03-12/eu-near-vote-on-new-regulatory-framework-for-cryptocurrencies
https://www.ledger.com/blog-stand-for-financial-freedom-our-position-on-micas-proof-of-work-ban
 
The bitcoin market since its start is well known by its change and that it's always not that easy to explain the change if nothing big has happened right before that change.

Why is that a major issue? If they are banning only mining then impact should be minimal. Due to high electricity prices EU is not a popular place for mining (individual miners would probably keep mining illegaly). Therefore, we shouldn't expect a significant hashrate loses.
However, the issue is there are no positive news on the crypto market and in such moment even minor events can cause loses.
122  Economy / Economics / Re: Is it possible to take short-term loans for real Ukrainians somewhere on: March 18, 2022, 01:42:40 PM
Every crypto lending service requires you to provide a collateral in order to get a loan. If you have it then everything for you should work as usual. However, without collateral it would be easier for you just to get a donation rather a non-collateral loan since there is a chance of you being killed.

Btw, how many ways of spending crypto donation do you have when you are inside a shelter?
123  Economy / Speculation / Re: BITCOIN will rise on: March 18, 2022, 06:22:25 AM

I remember in the last 6 months hearing news like that several times just before the price dropped.   


These news have to be analyzed together with another indicators. It might be that people are gathering their BTC on exchanges in order to dump them. And once the price started to move down another people that hold  their crypto on exchanges may consider selling their coins. Have no idea why someone may consider growing amount of holders on centralized exchanges as a positive sign.


^^ And also history shows that April is an ugly month for Bitcoin so I don't see any bullish momentum despite the data that is being presented here.

On the other hand, as you have said, crypto most of the time follow stock movement. And stock is not doing very well as well, indicating that we might be in the bearish trend as we enter next month or even the rest of the year.

So you wanna say crypto got seasonality? Cheesy


124  Alternate cryptocurrencies / Altcoin Discussion / Re: new opening of Bitcoin monetary era on: March 18, 2022, 05:44:20 AM
Frankly speaking I'm not sure if backing a stablecoin with BTC is a good idea. Everything seems good if BTC is at high or at least stable rates. But once the trend changes then reserves may easily fall under coin supply value.

However, the good thing is this is a big amount of BTC that would be frozen. Therefore, we get less BTC on the market and higher BTC price. Hopefully, these reserves would remain untouched (otherwise, it may dump the price even lower).
125  Economy / Economics / Re: PayPal started working in Ukraine on: March 18, 2022, 05:07:59 AM
Some years ago I've been visiting some ukrainian website and it had a huge "donate us via paypal" button, so they definitely had PayPal before. Maybe they had some restrictions on ukrainian accounts but they definetely had this channel for receiving crypto.

However, the biggest problem is to make supply chains work well in order to be able to deliver purchases. Money is not an issue at this case.
126  Alternate cryptocurrencies / Marketplace (Altcoins) / Re: my new WAGMI projects. on: March 17, 2022, 07:48:45 AM
Looks like you took the font from Twich and printed your logo. Hopefully, later you provide a better choice.

Since you are planning to sell metaverse closing (but it i not represented in your shop yet) later you can make a promotion where you can handout a free NFT to everyone who purchase anything in your store (i.e. let your customer dress up his avatar in his real life closes). This might be a valuable bonus.
127  Bitcoin / Bitcoin Discussion / Re: The House of Nakamoto: A Bitcoin store in Vienna, Austria on: March 17, 2022, 07:25:57 AM
Such exchanges already exist for a long time. I believe that you can find something like that if you go to BestChange and choose a purchase for cash in the company office. Then it will show you the list of such places but this one is a bit freaky since CEO probably wanted to get some hype from their name.

For guys from the house of Nakamoto it was a doubtful move to make a japanese design for their service. There is a high chance that real Satoshi is not asian but just took Japanese nickname.
128  Economy / Economics / Re: Is there a place in the world you could live like a king via sig campaigns? on: March 17, 2022, 06:29:01 AM
That tells me that there's something to it, because there's no way father, sons, mom, and whatever grandparents are still alive would be bounty hunting if it weren't at least a little bit lucrative.  So I'd love to know how far campaign earnings ($1500 per week for 5 people in my example) could be stretched.  Are there actually places out there where one could not only survive but thrive by earning bitcoin on the forum?


With 6000$ per month you have a pretty bit choice. You can have a good life in most part of the world. For your purposes you just need to find a friendly place with a decent infrastructure.

For now, following options are coming to my mind:

Malaysia, Philippines, Vietnam and Thailand. These places are pretty cheap and friendly for foreigners. If you come in a group then it is possible to find a fancy villa. But I'm not sure if you may get a cool car there.
Cuba, Georgia, Armenia, Egypt, Turkey, India and Morocco also should be fine, at least they are actively attracting foreigners and they are safe.

P.S. In case anyone is making a group for such journey - please hit me up.
129  Other / Archival / Re: Crypto Industry Hyper Adoption on: March 17, 2022, 05:46:47 AM

In order to achieve a rate of 50% ownership of cars for example you need time to actually build those, and no manufacturer in the world will create factories cable of making enough cars in a year to cover all the population, it's simply not economically feasible. Same for the internet, first you need a computer, which was not that affordable in the first place then internet itself was pretty pricy in the begging. It takes one block for thousands of poeple to transfer and get their first coin for BTC alone and this does not include custodial wallet transfers, cars are not that easy to make and they do break down and need replacement.

Okay, another example. If you bought a car you can travel large distances. If you bought a computer you can instantly send or receive, make complicated calculations or use various amount of different software. Of course it takes some time to implement changes but with all above mentioned innovations people got something unique. By using internet you can send e-mail to another part of the world or manage a large database. People were unable to do this before the technology is invented but with invention of crypto people got a chance to... keep money or send transactions which was already possible via bank or systems like paypal. It is still unclear for many people if they even need crypto because they are ok with centralized service.



But I do come to the same conclusion as Ratimov, we're still in the very early beginning, I don't believe even those claims of 10-20% of the population actively using crypto at the moment, still a long way to go.


Well, it is not that clear.

Ofc crypto is young but being young helps it to develop much faster. We can already see crypto on traditional exchanges and crypto exchange volumes are at high values. So when can we say that we have passed this early stage?
For some reason many people think that we should have 100% people (at least as a goal) using crypto. Do they need it or we should force them use crypto? It is wrong to think that getting crypto would benefit everyone.
130  Other / Archival / Re: Crypto Industry Hyper Adoption on: March 16, 2022, 09:06:45 AM
To compare is to find similarities and differences, from what you say it seems that nothing can be compared.

Yes. Almost everything from above examples can't be compared since it is different things. They are different at almost everything.

All provided examples ( internet, electricity etc.) were a breakthrough. By using them, companies and individual users became able to face entirely new challenges while crypto market doesn't  provide anything completely new (people already knew how to invest, save money or send transfers) and it is unclear if most people in the world even need it. Crypto and internet have incomparably different scope and impact.
131  Bitcoin / Bitcoin Discussion / Re: Comparing the previous bear run of Market on: March 16, 2022, 06:12:54 AM
Current and previous Bitcoin pumps were different and therefore we have different types of correction.
Previously we had lots of ICOs and many of them were scams. Therefore we had more legal uncertainty and more risks. But this time when the hype is around NFT we already got a legal basis for institutional investors and strong media support from established media shilling their NFTs.

The only worthy comparison is to check whether we had a larger bubble in 2018 (we probably did) so it could help us to predict the depth of current bear run.
132  Economy / Trading Discussion / Re: How to understand or know the whale's next move? on: March 16, 2022, 05:52:20 AM
You can use already given link to check if any funds were moved but it wouldn't tell you if anyone gonna send a large transaction before it happens. And it feels like there is no way to get away from it. If you see that there are a few whales on any market the most likely it is immature market that fluctuates each tome they make a transaction. There is no way to foresee this unless you know these whales in person and they are informing you of their transactions.

Just avoid buying shitcoins and you don't need to worry about whales.
133  Other / Archival / Re: Crypto Industry Hyper Adoption on: March 16, 2022, 05:33:16 AM
Just imho, but most of this data means pretty much nothing.

Electricity, automobile, internet etc. adoption are different just because these are different things. They were invented in different time, used for different purposes and have a different value for economy (even now crypto worth almost nothing for global economy while things like electricity were a breakthrough).

I also don't like the comparison of stocks, bonds and crypto. It just feels wrong to compare bonds mc (which is almost a pure money) with stock / crypto mc that change every second.

Internet usage history vs crypto users chart is just funny. This is a comparison of absolutely different things that even existed in different time.
134  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: New metamask wallet scam on: March 15, 2022, 10:30:34 AM
Anyone knows how hackers can use this information? Because it seems pretty much useless.
Pictures of KYC documents are pretty much worthless, you can buy a full set of them for about 1$ or you can even order a professionally photoshopped ID picture for a small payment. Maybe they are going to send you a phishing link later after you pass "KYC", but neither private data nor email is enough to get funds out of non-custodial service.

Another question is to find where did they get the email database, but it seems like spammers might just took the first leaked database that relates to crypto
135  Economy / Economics / Re: Putin is trying to coerce firms into doing business or else... on: March 15, 2022, 09:33:11 AM

The only thing that Russians forget is that even when it comes to oil they can't do shit without western equipment. The first Russian artic platform was 20 years decommissioned Conoco oil platform,  most of the drilling in northern Siberia was actually done by western companies, see the associations with BP and Shell, and what is not western is made in South Korea.

As I know, what concerns the oil and resource research is quite good. At least I've heard they got decent specialists. Also, I agree with your general statement that in globalized world you can't do shit alone (works for any country) but situation with Russia is a bit different. This time there is an external reason for that and since Russia becomes more isolated there is no fear of loosing foreign investors because they already lost them due to other reasons. This rule only applies during the times of free trade.


Yeah, you know what all these have in common with fries?
The ovens at McDonald's are produced in the US, the girls the same, and no, you can't cook hamburgers on Lada radiators, which btw are made by Renault.
 

Venezuela's problems obviously related to their national policy but the kay problem is that the country is run by a drug cartel and they had a specific overall type of management combined with socialistic ideas. Nationalization was one of the most remarkable events but it was not as harmful as their own management.


Also, this topic is kinda overvalued. Many companies did not quit Russia but just froze their operations (just like McDonald's did). It would come to nationalization only in emergency case before getting Russia fully locked, which probably wouldn't happen.
136  Economy / Economics / Re: Putin is trying to coerce firms into doing business or else... on: March 15, 2022, 08:01:02 AM
In a current situation these actions look quite reasonable. Nothing unexpectable.
1. This was done in response for overall cancelling culture around Russia when companies are under pressure in order to leave the Russian market. And since everything was done rapidly, it is reasonable to set some limitations for capital movement.
2. Lots of russian companies have frozen assets in EU. This time even a large part if Russia's central bank reserves were arrested by EU.

In that situation the response from Russia is quite reasonable. Probably, many other presidents would do the same in such sutuation.


The moron thinks this is 1819 and nationalizing a shoe factory will simply work from day one like never happened, he could at least have watched what happened in Venezuela when they did the same shit.

So you think there is no difference between oil and burgers?
137  Economy / Economics / Re: Climate change: EU unveils plan to end reliance on Russian gas on: March 15, 2022, 07:37:52 AM

The united states has sought ways to reduce reliance on foreign oil for many years. Knowing that dependance could turn into political leverage later. The united states has also sought to reduce reliance on electronics, steel and 5G networks which might be produced in china for similar reasons.


Usually, americans have these plans only for themselves. They were attempting to ban nord stream for years just in order to make their european partners buy more expensive american gas. In the modern world there is almost no way to be truly independent if you don't have resources on your own territory. otherwise, you need to rely on your suppliers.

Currently, EU don't have much choice. They can buy resources from Venezuela (country run by drug cartel) or Iran (country run by terrorists) but the Idea of significant expanding of the green energy is just not realistic.

Quote
The plan envisages ending reliance on all Russian fossil fuels "well before" 2030.

Whenever someone is asking for money right now in order to make something in 10 years then billions of $ would be wasted for nothing. This happens everywhere and every time.
138  Economy / Economics / Re: Coming economic problems all world how to profit on: March 15, 2022, 07:08:32 AM
Let's say you have $100,000USD and you're dealing with a currency that is rapidly losing its value versus the USD, in this case take TRY.

You're a soothsayer and know that TRY is going to hell in a hand basket, so here's one way to profit:

1. Take a loan for the equivalent of $100,000USD in TRY; use your USD as proof that you can pay the loan in a heartbeat
2. Once you have the loan, push your $100,000USD out of the country. Leaving it in the same country as TRY makes it subject to forfeiture and forced conversion that is inevitable in order to protect TRY
3. Use the loaned TRY to buy real estate (preferably in a dense urban area). You don't want to buy rural because of the taxes. You want to buy urban because of commercial real estate potential
4. As TRY continues to lose value, siphon small amounts from your USD to pay the interest of your TRY loan

over time you will profit like a king.

Well, some points are already explained on previous post but I'd like to add that even if you are lucky with your own roadmap you gonna be very surprised when you find that real estate prices are not rising as fast as TRY inflates and since you can buy and sell real estate in TRY then by buying real estate you will get an asset closely tight to TRY rates. Ofc it is better than burning your money in inflation but it is still a bad example of investing. In your example it would be much better just to buy USD (or stablecoins) and later repay your loan.
139  Economy / Service Discussion / Re: [List] Bitcoin Savings Accounts Providing Interest on: March 14, 2022, 05:55:06 AM
So major services like Binance are absolutely safe unless you expect them to go mad for no reason and freeze your funds (which is still a possible risk).
Absolutely wrong!
You can't say any centralized exchange is absolutely safe, especially when we all know that both Binance and many other exchanges were hacked in past.
Binance even leaked bunch of private customer information, and you can still find images of passports with faces of people on various online forums.
I don't know what else needs to happen so that you can call in unsafe.... maybe someone brakes in your house with a gun using address from that leak.  Tongue

Feels like some people stuck somewhere at 2016 when it comes about exchanges.
Binance, just like any other organization have some vulnerabilities that are unknown for the time being. But when you you work on this exchange then you cooperate with a "real-world" Binance that have a "real-world" obligation to return your money or they get problems with a "real-world" law. Also, it appears that security made a leap forward so hackers couldn't empty the entire exchange balance and Binance itself is one of the largest whales that is able to repay possible hacker damage.

Once again, when you work with centralized cervices you need to check if service itself is trustworthy. And in case with Binance it is.
140  Economy / Goods / Re: Gold from Africa on: March 13, 2022, 09:57:09 AM
The entire thread looks like a silly scam attempt. Duno why so many people replied here.

I don't know how it works in any particular country, but in many places you won't be able to use this gold. Even if you buy some and say you found it then you could only sell it for the part of the market price.
Physical gold is only useful for investments when you have it as bar with some national stamp on it (but any scratch would decrease its price).

Rough gold is not sold like this.
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