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1261  Economy / Gambling discussion / Re: Casino and prisons on: September 21, 2022, 11:17:03 AM
Non sense idea and not ideal to do. If the casino is for only the prisoners without any outside influence, then it should be okey as it will help the prisoners to experience something unique which a lot of other prisoners don't get to experience. Good for a social experiment.

But there are multiple downsides to it. Prisoners can quickly develop a habit of gambling which can continue even after that person is released from prison. That might not become an ideal example for an ex prisoner.
1262  Bitcoin / Bitcoin Discussion / Re: Ex- Chancellor Rishi Sunak Could be Satoshi Nakamoto ! on: September 21, 2022, 04:09:15 AM
The Ex Chancellor Rishi Sunak is a C++ Coder and Computer scientist. He is a credible person in the UK government. His billionaire wife also a computer programmer. Her father and mother both are computer scientist and programers.

When Rishi Sunak was studying in California in 2006, my venerable friend invited him to return to UK and inspired him to contribute his knowledge and expertise to the government. Finally after many years he became the Chancellor. Doesn't it prove that Rishi Sunak is a good candidate for Satoshi Nakamoto ?

There are millions of C++ programmers available in the world. By your logic, everyone is a potential candidate for Satoshi Nakamoto. What a great non-sense!

Rishi Sunak belongs to the league of billionaires. He doesn't need bitcoin or any other cryptocurrency. By your logic, then should I understand that UK government is the creator of bitcoin?
1263  Economy / Trading Discussion / Re: Microstrategy purchased again 301BTC. Is this a sign? on: September 20, 2022, 02:20:46 PM
MicroStrategy buys 301 BTC at an average price of $19,851.00 or worth 6M$.


Everyone knows this is the ultimate bearish indicator. The price is now bearish due to the upcoming Feds meeting regarding interest rate too. Are you shorting the news? What price do you think is the bottom considering the interest rate that Feds released is too high to what economist expecting?



When the interest rate increases, we have historically seen people moving out of non-traditional investment and investing in traditional assets. That's probably what's happening in the market now. But that is not a permanent situation, it's super temporary.

I believe Microstrategy is bullish in long term holding of bitcoin. They are trying to do cost averaging it seems as their previous purchases are made at a higher price. It does not tell us which direction the market will take to be honest.
1264  Economy / Economics / Re: California sues Amazon, alleging its policies cause higher prices everywhere on: September 20, 2022, 10:33:35 AM
Amazon is super predatory in nature. They are the sole reason for the death of millions of businesses around the world. It's great that California detected the trend and taking actions accordingly.

It's their practice to create products under the brand name of Amazon Basics and sell it at a low price to capture the market. Once they capture the majority percentage of sales in the market, they start increasing price. That's how they play the game. I believe California government is doing the right thing.
1265  Other / Politics & Society / Re: The economic danger of China and Taiwan war on: September 19, 2022, 05:39:00 PM
I don't think Xi is dumb enough to strike Taiwan currently when the world economy is heading towards recession. China could actually end up losing more when compared to Taiwan just like the Russia-Ukraine situation.

The Chinese government couldn't do jack when US sent over their politicians to Taiwan recently which itself implies that they are not really interested in starting a war with Taiwan.

That's what my fear is! China has recovered quite well from the effects of COVID, rather faster than many other countries. At the same time, Taiwan is known for semiconductor and electronics industry. So I won't be surprised if China actually plans to launch attack on Taiwan.

That might start a big war and lead to World War III. US president Joe Biden said that US will stand beside Taiwan if any war happens. So the impact on world economy will be devastating if it happens in reality. Bitcoin may get lucky among this turmoil.
1266  Alternate cryptocurrencies / Altcoin Discussion / Re: Now it's time for staking on: September 19, 2022, 03:46:12 PM
Famz is there anyway someone can early month staking a altcoin? I don't want the yearly ones APY right? I want monthly and also I will like or prefer to stake BTC or USDT or any top altcoins like XRP or BNB just to be on the safer side, the year we are in a bear market but I am in for the long term so I really don't care about market situation.

There are multiple staking coins available in the market. However, I believe the most important staking coin is now ETH after the recent merge. There will be multiple staking pools available in a few days to start pool staking in ETH. I believe it's a great move and will help mass adoption of mining through staking.

If you want to stake bitcoin, I believe some defi protocols will allow you to do that. But please understand the risk there as it entirely depends on their business profitability. Otherwise they can simply go down just like what happened to Celcius.
1267  Economy / Economics / Re: Development of bitcoin in Nigeria and it's economic effect on: September 19, 2022, 01:38:12 PM
Economic impact is a subjective matter. If the price of bitcoin goes down, there will be negative impact on the economy as a lot of people will loose their investments and vice versa. So it is very difficult to conclude whether it's going to be good or bad.

Same is happening in El-Salvador. The price has gone down and that's why their president is facing a huge pressure from the citizens. If it had gone up, people would have blessed their president. It all depends on which direction the price moves.
1268  Economy / Economics / Re: Irish Government Pays Artists & Musicians $330 ‘Basic Income’ Allowance on: September 18, 2022, 06:28:16 PM
It's so kind of Irish government to provide a basic income to the artists. But countries like Ireland can afford it given the population is less and stands second in per capita income. So it all makes sense for them! It helps in circulation of money as well as increases the purchasing power of the people. In turn, it increases demand and money flows into the economy. It's beneficial for a small country like Ireland.

But in bigger countries and especially where the corruption rate is high, this is not a feasible solution. Like in India, if the government tries to start similar basic income schemes, most of the money will flow into the hands of corrupt politicians and their close aids. A very minor percentage of population will actually get the benefit. It is practically impossible for India to maintain sanity of such initiatives.
1269  Bitcoin / Bitcoin Discussion / Re: OpenNode is testing Bitcoin payments with the Central Bank of Bahrain on: September 18, 2022, 02:42:50 PM
The Kingdom of Bahrain is an island country on the Persian Gulf, located between Qatar and Saudi Arabia, with a population of about one and a half million people.

It's a good development. Even though Baharin's population is just about one and a half million, it is an extremely wealthy country due to its abundant natural resources. So if bitcoin is accepted by their central bank, we can expect a huge inflow into the bitcoin market due to the purchasing power its citizens hold. 

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Companies like OpenNode will clearly help Bitcoin adoption all around the world, specially for governments and large institutions, which I think still rely on third parties to integrate these things.

Well it's a business and whatever OpenNode is doing, is for business! But if it is helping bitcoin at the same time, then it's definitely a new to cheer for!
1270  Economy / Trading Discussion / Re: Is it a short break for bear market? on: September 14, 2022, 05:56:54 PM
I thick it's just a short break for bear market, it just continuous a while.....What is about your point of view friends Roll Eyes....Suggest Smiley Smiley

What do you mean by short break? The bear market is still very much ongoing. Going up to 21k or going down to 19k, doesn't change the bull or bear cycle. This is just normal price movement. So no, I can't see any short or long break from any market.

Bitcoin is currently going through the bear cycle and this kind of price movement is very much common. For bitcoin, 10 -15% daily movement of price is normal.
1271  Bitcoin / Bitcoin Discussion / Re: Why isnt there a BTC browser wallet like Metamask on: September 14, 2022, 04:28:50 PM
I still use Electrum the few times when I send BTC transactions, but just today i thought about, why isnt there a Browser extension wallet for BTC like Metamask for ethereum?

It is very easy for hackers to gain control of your browser. So wallets like Metamask is not really safe. This is good for micro transactions but if you are holding a good amount of money in your Metamask wallet, it is not really recommend!

Probably that's the reason no developer has yet created a secured browser extension like Metamask. It is always best to use a desktop or hardware wallet if you are holding some good amount of bitcoins. Electrum is quite good and used by a lot of fellow forum members.
1272  Alternate cryptocurrencies / Altcoin Discussion / Re: SWEATCOIN on: September 13, 2022, 02:35:31 PM
what did you guys see about sweatcoin hype

will this last forever?Huh

Once the hype is gone, the coin will be gone too! That's what we have seen multiple times in the past. A coin without any actual utility or no fundamentals are bound to fail. Till the time hype is there, market will respond to the coin. Once the hype is over, you have to add another coin to your deadcoins list.

I personally have not less than 50 deadcoins in my wallet which cannot be sold anymore. Sweatcoin is going to have similar fate.
1273  Economy / Economics / Re: Queen Elizabeth II's death may pose financial constraints for King Charles III on: September 13, 2022, 05:17:01 AM
The death of queen Elizabeth has affected world activities and if I'm not mistaken, there has been over a thousand condolence messages from leaders over the world and even Kenyan president, Kenyatta declared a three day holiday of sorts to honor the late monarch.

Lol! Sending condolence messages are included in the protocol of the world leaders and that's why we have seen such things. It didn't effect the world activities in any way whatsoever. It could have an impact in UK itself but nowhere else! Kenya is not the world!

Every country in the world is facing a great challenge called recession. UK is a democratic country and the king and queen literally had no control on the policies of UK. They have a parliamentary committee to take care of the country. The King is a honorary post and it will remain that way. Financial challenges are different and there's no impact from Queen's death!

1274  Local / India / Re: Does cryptocurrency have a future on: September 12, 2022, 03:41:51 PM
Selling physical properties? Who is this stupid? No one should do that!

Bitcoin and ETH has a great future. But if you are referring to any other cryptos, that will not be same. We have thousands of cryptos today in the market but no one could beat bitcoin or ETH. So if I have to hold on to a crypto for future gain, that will be bitcoin and ETH for me and nothing else to be honest.
1275  Economy / Economics / Re: OPEC+ slashes oil production by 100K barrels per day as prices fall on: September 12, 2022, 11:11:57 AM
Do people prefer for oil production to rise or fall?

What kind of a question is that? Obviously as a layman I would want the oil production to increase so that the price can decrease. It will help a common man to save money from fuel. Why would anyone want the oil production to decrease so that it makes room for price increase?

Unfortunately, that's not how the business works! OPEC will decrease oil production to create demand supply gap so that they can maintain their profitability.
1276  Local / India / Re: Future of remote jobs causing stress on: September 09, 2022, 05:43:47 PM
Hello community as you know millions of people working remote jobs and earning huge money, it is positive step to comfortable life. But is there online work causing stress and disability in body? if yes how to save us, already you know its impossible to reduce attention from a huge money source!!!!!

I am sure remote jobs are not causing additional stress. Rather the plan for return to office is causing stress. I have 70 + members in my team and this month the management has decided to start the office in hybrid mode. I am currently standing at 13 resignations from my team because they don't want to return to office. So remote jobs are actually so much better than office jobs.

It saves time and money from travelling. And also doesn't cause unnecessary pressures. Yes the physical exercise gets reduced to some extent but that can be easily covered up at home.
1277  Economy / Economics / Re: ECB lifts rates by unprecedented 75 bps on: September 09, 2022, 04:25:23 PM
It's happening everywhere! Inflation is a real problem and increase interest rate is one of the most effective ways to fight inflation. So ECB is heading towards the right direction. It happened in my country as well. I was paying an interest rate of 7.5% on my mortgage and last week it has been increased to 8.3%. Both my EMI and loan tenure got increased. I will now have to look into my finances more closely to reduce the extra expenditure.

I doubt at this scenario, investment will flow into bitcoin. Rather people can take out their money from bitcoin and invest in banking assets as the interest rate has been increased. That's usually what happens!
1278  Alternate cryptocurrencies / Altcoin Discussion / Re: Crypto markets see flood of Queen Elizabeth memecoins and NFTs on: September 09, 2022, 12:17:53 PM
This incident shows why we need to avoid memecoins at any cost. None of these newly created coins have a future and will be dead in one day. The crypto market is seeing such kind of attacks since a long time now. Pancakeswap is a frontrunner here who allows to facilitate trading for such memecoins. This madness has to stop. Otherwise the crypto market will never be able to become mainstream due to its reputation.
1279  Alternate cryptocurrencies / Altcoin Discussion / Re: All Hail The Queen! An Outlook Into UK's Crypto Ownership and NFTs Market. on: September 09, 2022, 11:20:53 AM

How does the demise of Queen Elizabeth II affect the UK crypto market? Let's discuss.

In no way whatsoever! That queen did not interfere in any financial regulations related matter ever so there's no impact on the crypto market or even on the mainstream financial market. UK is one of the strongest economies of the world and one of the biggest users of crypto currency. It will remain as it is unless the new prime minister decides to do something drastically different and unfavorable to cryptos.
1280  Economy / Gambling discussion / Re: The Rise of Mobile Gambling Is Leaving People Ruined and Unable to Quit on: September 08, 2022, 06:07:06 PM
With the access to the faster internet service and high end mobile phone, it was expected! Gambling addiction was always a problem but with the easy access of various online platforms, it is becoming even more evident nowadays. It is also becoming difficult to catch problem gamblers early on as we just need a mobile phone to gamble.

It is indeed a problem in many countries. Online gambling platforms are restricted by the local law so even young people are getting addicted to such things.

I believe medical attention is needed but moreover an internet surveillance system is needed just the way people have in China. Otherwise, their penetration will just keep on increasing.
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