In the end, a complete reordering of the entire global economic system will need to occur as the world economy stalls in its depreciating orbit and is caught in the gravity well that is Bitcoin, the new world reserve currency. Millions of people will lose their fixed income, cash and bonds to hyper-inflation while Bitcoiners become the new global wealthy, leisurely floating over the tidal wave of devalued dollars, in an ocean of paper money. The Federal government disappears like the Soviet Union as their financial instruments fail completely and there is a physical struggle for control as the power structure decentralizes. Crypto exchanges become our new economic pillars that control transfer into and out of the financial matrix as people desperately attempt to secure a handful of Satoshis, as the price of a full Bitcoin moves completely out of sight. I think that this will be reality, albeit a distant one. Whether or not the fiat system holds up post-pandemic will be a huge determinant of how much adoption we see for BTC and whether or not a mass adoption event will be possible during this decade. The threat of a re-ordering of the global monetary system (which will go to zero as a matter of time given it's built on straws entirely) should be enough to prompt everyone from individuals to firms to hold some BTC as a hedge, imo. Even if you don't necessarily believe that a reset of this magnitude is probable, it is a possibility that needs to be addressed by any holistic investment strategy. |
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This is the difficulty of auditing CEX's. There is always a risk of insider activity that may not be picked up by even impartial auditors because they can cover their tracks so well. I'm not saying that EXMO is guilty of this, but simply that you can never be sure with CEX's and it can therefore be difficult to find recourse if you are a depositor.
I would actually think that 5% of total assets is a lot, especially considering that exchanges may not have all deposits in liquid BTC and invested in other assets to earn interest.
How they deal with this will be interesting. Will shareholder equity simply take a hit to cover the 5%? Or do all depositors just lose 5% of their balance held with the exchange? The paths that can be taken have drastically different legal implications.
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The scale in that graph is skewed towards gold, so in reality BTC has far outperformed gold during this pandemic downturn.
I wholeheartedly agree with Wozniak.
The derivation of gold's value comes from mainly the fact that a) there is a finite known supply of gold that cannot necessarily be mined at an accelerated pace by humans without significant financing and b) there is great trust in its status as a store of value.
BTC is all that, but a much better payment processor for day-to-day transactions and its supply is fixed by mathematical certainties - which is why you will see an increasing amount of wealth managers and funds diversifying into this category.
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What is the wagering requirement on these bonuses and free spins? They sound very attractive, but I couldn't find any information about how I'd go about withdrawing these funds around the site which I'd assume most other prospective players are also looking for. I'd suggest making it more clear if possible, because otherwise people will default to thinking that it is not a worthwhile promo. But overall, I'm actually pleasantly surprised at the quality of your UI - it is actually one of the better ones I've seen in the crypto gambling world although some elements could be polished up a little bit more (e.g., sign up screen). |
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1. I'd say that at least a part of the bull run is financed by central bank stimulus. With record low interest rates, investors are flocking to assets that have the capacity to produce high returns with higher volatility.
2. This idea is completely ridiculous.
This would essentially put the fate of BTC in the hands of the credibility of USDT, and by that stage, what difference is there between BTC and the fiat that it had sworn to destroy?
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Today we saw bitcoin hit an all time high of $23k while its traditional counterparts are suffering a decline in value. Historically, when someone desires financial stability, they naturally go for safe investment is, such as gold, stocks, real estate. But with the outbreak of the corona virus pandemic we have experienced a shift in global economy, countries are facing inflation. As a result many individuals are beginning to see Bitcoin as a safer investment than its counterparts. Countries are slowly adopting crypto as a means of payment. Will bitcoin eventually dominate the world economy and replace traditional currencies?
I don't think that is actually up to BTC itself to make any proactive moves. However, BTC will be on standby as the next best alternative if the fiat system experiences a catastrophic failure. The catalyst for mass adoption, therefore, would likely simply be some sort of hyperinflationary event in a major economy that shatters confidence in 'paper' currency. I would still say though that the chances of this happening in the near future is pretty slim, even as a long term bitcoin bull. As I said, it would take a black swan event. For now, BTC will simply serve as an alternative payment gateway and store of value alongside fiat. |
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Wow. I thought that with modern actuarial science these sort of redundant bets/occurrences would be eliminated altogether. Guess I was wrong...
It would be interesting to see the sportsbook's logic behind having these divergent odds. If it is merely for marketing purposes then I would say it is borderline questionable from a reputation standpoint as it takes advantage of the average retail bettor's inability to process the implications of these events & odds.
But if it's because of some sort of error, then there could arise arbitrage opportunities given the odds gaps are high enough - so definitely be on the lookout on those.
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As absurd as OP may sound, this is the sad reality of the fiat system during crises.
To keep the economy afloat, the central bank & the government generally partner up to inject liquidity into the economy to the greatest extent possible. Bernanke's metaphor of the helicopter in '08 was more real than we thought.
And this "genius idea" is essentially what central bankers are pursuing right now. With a secularly stagnating economy with low interest rates, even this sort of unconventional policy is simply not sustainable from neither a growth nor inflation perspective.
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Hello everyone,
Online poker traffic is growing during the covid19 pandemic. Formats like tournaments are becoming
very attractive, sites are running huge series with big prizes to win and a lot of recreational players,
beginners and traditional casino players are joining. In addition some sites added cryptocurrencies as
deposit and withdraw options.
It would be great if i find some support:
Is there any interest in:
a) poker staking? short-/longterm, cashgames/tournaments
b) rakeback deals -casinos
c) cashback deals -ewallets
d) poker coaching?
Thank you!
I think that a, b and c may already be covered by existing sites, so it may be tough for you to gain a sizable market share in the poker ecosystem even if there is significant interest from the community.. Coaching is definitely something that would be interesting if you could integrate it into your site though. It will all come down to execution though, one way or another. Your ideas are decent but it will take great marketing and developing to maximise its potential. |
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It would be a good idea but as you said, if it didn't completely lack enforceability and the ability to implement.
To implement such a scheme you'd have to have some sort of universal health identifier/profile for all of the population. That itself is going to see a lot of backlash given the fact that it can be seen as an infringement of privacy rights.
Although a merit of this proposal is that it would also serve as a macroeconomic stimulus as a secondary effect, which is sorely needed in the majority of economies right now.
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The true causes of these short term bubbles are all pretty much the same - an injection of mainstream and institutional interest, combined with the excitement drawn from the halving, all lead to seemingly endless rallies.
Sure, 2020/21 will be another bubble that will eventually correct, but it will likely bottom out at a much higher price. Just like how $1.3k was the top and was established as a firm support level in the 2017 rallies, and the support at $4k had been tested earlier this year in March/April.
And all of this really comes back to a long term price progression that you need to zoom out to see. As more people adopt and the fundamentals of BTC improves, there is a long term uptrend. These short term bubbles and busts are all bumps in the road that should not overly concern holders.
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There is no signs that Bitcoin will slow down! The risk/ratio reward telling that If the loans are cheap with low% its good to invest in risk assets like Gold btc and even property. Even better If you can do day trading swing or intra day even you make just 1-3% daily. If you have job and income and money to borrow its cheap now its not bad at all  Good luck with your intraday trading. At 3% per day, you'll be getting nearly 50,000x your investment in a year's time. Don't forget to call me when you're rich 
Seriously, I have not heard a worse idea - to lever up on your own financial situation in a turbulent time in order to do intraday trading for an extremely volatile instrument. Yes, loans are cheap right now in most parts of the world. But that does not justify the risks of short term volatility. In fact, I find that most people I know who trade with borrowed money are more likely to exit a position suboptimally and enter into the market due to FOMO. |
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I don't get why people get so hyped over this stuff when clearly it'll detract away from decentralisation as a founding principle of cryptos. Because price. If blockchains get hyped (and especially if CBDCs become interoperable with liquid cryptocurrencies) there is obviously going to be some spill over into decentralized coins. Everybody knows fiat money (CBDC) is not an investment. Bitcoin and altcoins, quite the opposite. True, and I guess that price will be affected whether we like it or not - and whether markets are rational or not, in terms of their excitement. I don't necessarily agree with your statement that everyone knows that CBDCs are an investment, though. A lot of people saw Petro as an investment opportunity and got absolutely ripped off. Whilst Sweden and other developed countries are likely to release a pure currency, a lot of smaller economies can and probably will issue more shady tokens that represent a stake in resources and/or the economy that has a promise of yield, in order to attract FPIs. |
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Hi,
My account on bittrex was blocked, and i'm waiting for 9 days and no more updates in my ticket.
JUST FYI be careful with BITTREX
Bittrex has gone downhill after they removed legacy accounts. They are super tough with KYC and if you aren't willing to provide whatever they ask you to (and this includes proof of income, source of funds, etc.), then you shouldn't use them whatsoever. Stick to Binance, and even then as it is a CEX there is a certain degree of risk. All you can do rn is to comply with whatever conditions and requests they give out, and be patient. Their support team definitely is not the best so you need to give them some time. |
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Great suggestions guys, I am working on a new site that will list such offers and Im thinking how I can make it useful for eveyone.
Let me know if you have any more suggestions.
This is actually a great idea, I'm all for it. In terms of free play and promos, there are a ton of sites that don't actively advertise this stuff outside of bitcointalk. So I think that it would be great if you could aggregate all the info in the Games and Rounds subforum (including amount of bonus, actions required, rank required etc.). For instance, there is a huge Duelbits promo going on that gives you bonus slot spins, and also Adkinsbet has essentially a weekly 40mBTC freebet open to all. Reading through all the nitty gritty of each thread can be tough so you will attract a lot of organic traffic from people actively seeking these opportunities. |
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Normally we would like to congratulate the winners. However, the winners have created multiple accounts on our website. Under the current terms of the promotion, it is not prohibited to participate in the promotion from 1 person with multiple accounts. What is not allowed is duplicate accounts on adkinsbet.com We cannot post information about the winners. If they have any questions, they can PM me or email us. They can only use their first created account at our site. The second created account from the same IP address is blocked for both players. Today or tomorrow we start the new promotion for this week, where another 40 mBTC can be won Can you please say what accounts are connected? Better to add new rule for next week so that multiple accounts can't post picks and participate or they will get negative trust feedback from other members. I received quite the extensive list of members who've been abusing on-site promotions + this one (accounts created within minutes of each other on adkinsbet).. For future promotions I'll implement a blacklist for these users. Do make a thread post on list of known alts about this, Hhampuz |
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Hey Guys
New here but not in the Space.
What's always annoying me about the whole Tether discussion is the fact that everybody that talks about the topic mostly assumes that if usdt collapses (not saying that it will) bitcoin would dump harder than ever before. While I can see that a lot of volume is through tether ( I would say its the majority) the collapse would by no mean be a small event. If you look back tho to end of 2018 when the whole Crypto Capital saga took place and usdt "dumped" into the .80s the only thing that really happened was that btc immediately spiked by a good amount simply because if you price btc/usdt if one collapses the other rises. So let's just assume that the day when tether would collapse actually comes and it's not just a few days of uncertainty. What side would win. A) everybody just want's to flee usdt (into btc) or B) everybody want's to flee crypto as a whole (through btc into "real usd" / coinbase)
No matter which way you look at it, there will be a short term dump for sure. Tether is an extremely important source of liquidity for bitcoin markets and there is absolutely no doubt that there will be a negative demand shock if USDT goes under. There will also be secondary effects in terms of investor psychology that may not necessarily be backed by solid reasoning (but hey, markets are irrational at the best of times). But in the long run, I think that BTC has shown enough for us to say that it is immune and independent of any external movement. It is indeed a long term store of value. We've seen a bunch of countries, including China, who have vigorously opposed BTC. The same effects occurred - short run dump due to irrational markets, long run rally due to underlying fundamentals and peoples' realisation that they are unchanged no matter what the legislations are. |
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Sweden's government will start exploring the feasibility of having the country move to a digital currency. The country expects the review to be completed by the end of November 2022. Sweden is among the first countries in the world to consider introducing a digital currency, where it's central bank already runs a pilot project to introduce an electronica krona based on blockchain technology. Before everyone starts circlejerking all over how great this is for bitcoin, you should recognize that such a system would be a competitor to bitcoin, not necessarily enhancing bitcoin value. It's built on the promise of digital currencies and blockchain generally, not bitcoin specifically, though bitcoin has demonstrated the use-case invariably. I don't know that it would bring any tangible benefit to bitcoin specifically, but I think it would bring further legitimacy to digital currencies as a whole, of which bitcoin could potentially be a beneficiary in some capacity, though how much specifically would be hard to gauge. Source: https://www.bloomberg.com/news/articles/2020-12-11/sweden-explores-the-feasibility-of-moving-to-a-digital-currencyIt completely makes sense for them since Eurozone yield curves are deep in the negatives and eventually cash would necessarily need to be phased out in order to remove the implicit 0 nominal lower bound for consumer interest rates. This would allow further monetary easing. As you said though, this is not necessarily good news for BTC. I don't get why people get so hyped over this stuff when clearly it'll detract away from decentralisation as a founding principle of cryptos. The more that governments intervene in this field and create their own cryptos, the less attention BTC is likely to get; since even though BTC is still a far better long term store of value, the medium of exchange properties of both are the same. |
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This may be asked before, but what advantages exactly does buying equities of holding companies that have a portion of their NAV in BTC or crypto derivatives have over just holding it in a hardware wallet yourself?
Is it some sort of tax incentive that I'm currently unaware of?
Obviously for the founders themselves, forming a corporation provides a limited liability clause in everything which allows them to separate their individual wealth from their potentially leveraged BTC positions - but I'm asking a very specific case here for the individual, retail investor that has a choice between pure crypto or crypto equities/ETF-like vehicles.
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Please explain in laymen term
Bank hand out the loan at 6-10% interest rate to Small Medium business
Central bank provide low rate (0%) loan to small bank to MAKE profit
The bank can’t survive with 0% interest rate?
How can small business survive with 6-10% interest rate?
How can people survive with 6-10% personal loan interest rate?
Why bank is above small business and human on interested rate privilege?
This is a major scam!
The central bank's benchmark rate movements are independent of private banking institutions unless ofc there is a level of corruption going on. Their mandated targets are generally a) unemployment and b) inflation targeting of 2-3% on avg, over time for most countries. There is nothing that says banks must survive even though implicit guarantees may be made. To answer your question, there are certainly instances where banks charge high amounts of interest on consumer loans. But there are two reasons for that, whether or not they justify the banks' actions: a) There is a disconnect between short term benchmark rates (i.e., fed funds, cash rate, whatever you wanna call it) and retail rates and b) There is substantial risk in personal/business loans compared to secured mortgages. |
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