Bitcoin Forum
May 24, 2024, 08:52:57 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: « 1 ... 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 [71] 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 ... 260 »
1401  Economy / Trading Discussion / Re: Is it possible to calculate how much the price of BTC? on: October 10, 2022, 07:09:19 PM
You can't calculate, you can only estimate, the same way you can't calculate the price of Tesla stock in 10 years. Maybe they will disappear by then or Musk dies and the new CEO bankrupts the company.

All I can tell you is that if bitcoin continues to exist it will be worth more in 10 years than it is today. Will that be 50k or 500k USD, we'll know in 10 years.
In short time frame like 1 year, it's possible its price will be lower but the value is around 20k so if the spot price goes below the current level don't be alarmed.
1402  Other / Politics & Society / Re: Russian Invasion of Ukraine[In Progress] on: October 10, 2022, 03:13:30 PM
Not saying that it is a case here, but previously Amnesty International accused Ukraine of using
schools, kindergartens and hospitals as military objects, so they can accuse Russia if they strike
back...seems like useful PR tool

According to Russian logic if you keep wounded soldiers in a hospital it becomes a military object. This means that if people see a wounded soldier they should ignore him and let him die instead of taking him to a nearby hospital. A hospital where there's 100 civilians and 20 wounded soldiers is going to be targeted because Russians will say it's a military target.
I say bomb the Kremlin because there's a number of military personnel present there at all times, therefore it's a military target.
1403  Economy / Gambling / Re: Maybe Yet to be seen? on: October 07, 2022, 05:06:31 PM
It's not that hard to make a casino where you play with NFTs. The hard part is dividing them to make bets because say that NFT is worth $100 and you don't want to bet all of it at once what are you going to do? What about NFTs worth 1ETH or more? Tios would have to be a casino for high rollers.

Also, the market for NFTs is small especially now when so many people were unable to sell the ones they paid a lot of money for last year.
1404  Bitcoin / Bitcoin Discussion / Re: Why is an economic recession bearish for the market? on: October 07, 2022, 04:19:18 PM
I always assumed that an economic downturn with high inflation would lead to lower confidence in fiat currencies, causing people to run to more reliable stores of value. Traditionally these are precious metals, but crypto currencies could also serve this purpose. This flow of fiat money into crypto, would cause a bullrun with higher crypto prices. That was my idea of it.

It should be bullish. The problem is not all of the people who buy bitcoin do it with their own money. Some take loans to invest or have taken loans to buy other things like stocks or real estate and are now getting destroyed by rising interest rates. These people had to sell bitcoin to pay their loans up and stop losing money to the banks. There's also a group of investors who trade bitcoin by predicting cycles. When bitcoin loses about 50% they sell everything because it could mean a prolonged bear market. To them the economy isn't important. What is important is if bitcoin is in a bull or bear market.

The good part is those people are out by now so what's left is the mostly normal investor, a person who held in 2018 and is not easily scared.

Quote
But why do legendary investors like Michael Burry predict that we are not at the end of the bear market yet, because of a looming economic recession/depression?

Burry is a permabear. He was bearish in 2019, 2020, 2021 and he's bearish now.
Also, he's impatient. In 2020 he sold all his gamestop stock right before it exploded in 2021. It's estimated that holding the stock for another 6 months would've made him 1 billion USD.
1405  Economy / Gambling discussion / Re: Why 95% online Gambling websites are Scam? on: October 07, 2022, 04:02:27 PM
My question is, how do you know it's 95%? Where did you get this number from? What if it's 50%? When you give such bold statements you should be able to back it up with some real data.

Say 95% are scams, which ones aren't? We have a number of well known casinos advertising here, this must mean that at least half of those from the top of the list are scams. Why don't you go to their threads and tell them that? You were only able to throw your accusations at one site so far, but you claim that most of them scam. Did you play on any other besides bitsler?

1406  Economy / Gambling discussion / Re: I find way to win on dice on: October 07, 2022, 03:46:17 PM
There is no way you will fail 7 times and if you do just increase the bet and you will get it back eventually even if you wait 12 times.
It's possible to lose many more bets consecutively.
To be successful, you need an unlimited balance which is impossible.  

In reality you don't need infinite balance because there's really no way to lose 30+ bets in a row because your chances of a loss also get exponentially lower with each lost bet. I've seen people with 15 losses in a row but getting 30 is already almost impossible. Of course to be able to bet 30 times you either need a very low starting bet or a lot of money and with some of the last bets like 25+ you're going to be putting thousands of dollars at stake just to go back to 0 and be able to reset the game which is pretty bad.

Well, it should be noted that yes, it is indeed the Martingale strategy, and if it fails 7 times, in fact one day I did something like this and counted the number of failures and had 18 second losses, this is something that cannot be avoided, sometimes when that happened to me I just went into despair and well sometimes I couldn't continue jugnaod anymore because I was going to compromise all my money balance and that wasn't the idea either. So, in reality, this strategy is not good, because there are also people who do not have a balance of more than $500, so it is very dangerous, I agree that a person who makes this strategy has to have an infinite balance.

I also had 16 losses in a row when I tried to do it. Fortunately, that still made it a small loss, but it emptied my wallet and I didn't feel like sending more just to try again.
1407  Bitcoin / Bitcoin Discussion / Re: Just Passing Through and saw this on: October 06, 2022, 08:44:40 PM
How is this incredible? We're talking about a payment that's worth more today than it was 2 or 3 years ago and more than it was worth in its old all time high, so there's literally only one year in its 12 year existence when it was worth more than it is today and you're saying it's incredible that people believe in something like that?

Bitcoin is great and it's real value is much higher than what the inflated and reprinted fiat money makes you think it is. If we take the famous fiat standard, $100 in 2022 is worth much less than the same $100 in 2017. Since bitcoin was worth 20k in 2017 and is now worth more than 20k and the purchasing power of the dollar has fallen, it's better to hold bitcoin than fiat, especially that this is going to continue. 5 Years from now bitcoin is still going to be worth more than 20k and dollar's purchasing power will be at least 20% lower.

If you don't believe me, take an average new car's price in 2017 and now and you'll see that the same brand and model now costs at least 10% more, but if that value was, let's say, 0.5BTC in 2017, it's now still 0.5 BTC, or less, even though bitcoin is in a bear market and dollar went up.
1408  Economy / Gambling discussion / Re: Is It An Easy Transition From Gamer To Gambler In Casino. on: October 05, 2022, 08:51:31 PM
It depends on the style of gaming that you like because OP says something about leveling your account. This is typical for RPG games and MOBAs. I used to play a lot and in hundreds of titles that I've tried you had no leveling at all and no gambling features. For instance, I played shooters a lot like battlefield, old  CS and such, and you had no gambling in there and there was nothing that you were playing for but pure pleasure.

In gambling you put things at stake, you can gain or lose. In gaming you can relax and all the achievement that you're getting is a scoreboard at the end of a match.
1409  Other / Politics & Society / Re: To the results of the Russian-Ukrainian war on: October 05, 2022, 08:20:31 PM
The recent development is clearly showing that Russia is losing. In the long run it's going to be the same if NATO keeps supplying Ukraine. The power of Russian army was greatly overestimated. They have great numbers but rely on Soviet technology, especially in the most basic stuff like uniforms, medic kits, field rations. I've seen a number of reports and interviews with Russian soldiers who claim that no vehicle they had was fully functional. Some had broken radios, other automatic loaders, some were leaking fuel or coolant, some were overheating. There's a tanker who claims they were fighting in a group of 2 and their tank had a broken auto loader and their teammate had engine problems. Basically they had 2 tanks but one was driving and the other one was shooting so they abandoned both of them in the end. All that Russia has is manpower and nuclear weapons. You can't hold enemy territory with these if you have no supplies. Ukraine has infinite supplies as long as NATO is in the game.
1410  Other / Politics & Society / Re: To the results of the Russian-Ukrainian war on: October 04, 2022, 10:22:32 PM
Guys, if you stopped quoting each other in every single post, you'd make the thread almost readable and much shorter Wink
Quoting 3 last posts makes no sense if there's only 2 of you talking...
1411  Economy / Gambling discussion / Re: New Gambling Site has a Short Signature Campaign on: October 04, 2022, 09:58:51 PM
When it comes to campaigns of new casinos, they're mostly about initial recognition. The traffic is always the highest in the first few days of displaying a banner, then it slows down and for businesses that run their campaigns for a long time, like the one in my signature, it's more about maintaining the status and showing that they're still doing fine. From the first goal of showing themselves their goal turns more into maintaining a foothold so that the space doesn't get taken over by competition.

I don't think bear market has anything to do with the length of campaigns. Many past campaigns were shutting down in bull markets.

As for merit requirement, don't worry. Sometimes it takes many weeks before you get a campaign but then it can be a year or more before it ends, so if you're a frequent poster it's worth the wait.
1412  Bitcoin / Bitcoin Discussion / Re: WHAT HAPPENS TO BITCOIN IF ATLANTIC INTERNET CABLES ARE CUT OFF? on: October 04, 2022, 09:43:48 PM
Cut as in where? On international waters? They'd have to use a submarine to do it and the country that would decide to do it would have to be a major troll because nobody but maybe North Korea would benefit from it. I'm saying this because Kim is such a troll and as you can see on the map above, there are no cables near his little kingdom.

What would happen? Countries would dispatch ships to hunt down the "troll" and patch the cables up. Also, cutting all the cables would take weeks if not months, so by the time they'd be going after the last cluster, the first one would be patched already. An EMP strike is more probable than a cable attack.
1413  Economy / Speculation / Re: Bitcoin price: Watchout for 30% decline in Bitcoin price, according to this indi on: October 04, 2022, 09:22:19 PM
I feel like every time one of these people decides to post a prediction it's always to gain more followers and later sell themselves. Selling comes in different varieties. Youtubers want to sell their channels, book authors want to sell their books, people on trading view and forums try to sell paid predictions or access to special trading groups. It's always about money, so don't believe a word they say. Not a single one of them has any clue when it comes to patterns, because there's so many of them you cannot use all and have to jump from one to the other.

Harmonics, moving averages, rsi, market cycles, on chain data, some people even count days or weeks in the bull and bear market thinking that if the last bear market lasted for x weeks the next one will have to be the same or longer. I've read so many theories and all of them fail when there's a real problem like war or a virus.

1414  Bitcoin / Bitcoin Discussion / Re: Does everyone want bitcoin to be stable in price? on: October 03, 2022, 06:32:50 PM
Stability means we'd have to sacrifice gains.

What would you like more? +100% in one year and then -30% a year for 2 years, or +5% one year and -2% the next? I'd rather if it were more volatile if that meant bigger total gains.

That said, we won't see stability unless there's strong regulations and much higher number of users, but we'll never get to a fiat money stability because there's no safety features in bitcoin. Nobody will come to the rescue, we're on our own here. They won't print more bitcoins or issue bonds or give empty promises. If something happens then it happens.
1415  Bitcoin / Bitcoin Discussion / Re: [LAUNCHED] Bitcoincleanup.com: a website to stop Greenpeace's bitcoin FUD. on: October 03, 2022, 11:50:30 AM
In this topic, I found Michel Khazzaka's paper: Bitcoin: Cryptopayments Energy Efficiency.

It gives an interesting point of view. It counts the energy needed for printing fiat money, transporting money, bank offices, commuting bank employees, data centers and more. It then compares it to Bitcoin's energy consumption to "conclude that Bitcoin PoW consumes at least ~27.9 times less energy than the classical electronic monetary and payment system" (p. 19 of the above paper).
Of course, one could argue that even if Bitcoin takes over the global financial system, the millions of bank employees would still commute to some office somewhere, there would still be bank offices (for instance for providing loans), and Bitcoin users consume energy too. But it does show the potential of the Lightning Network to replace all global transactions at much lower energy consumption than the current banking system.

It's a good counter argument though. If they say you eat too much it's a good defense if you can prove that they also eat too much, even if it doesn't disprove their point.
Bitcoin does consume a lot of energy, but banks consume even more. Banks are important, just as bitcoin is important. I don't get why some people are attacking bitcoin when bitcoin isn't attacking them or their institutions. It just wants to coexist.
As for your argument about commuting, I'd skip that entirely. It's impossible to know how much energy is used here just as we don't know how much fuel a bitcoin mine operators use. Say, you have a business in Iceland and have to travel 1000km to get from your house to the place where miners are. One bank employee has to go across the street  to get home, another will travel for an hour to get there.
1416  Bitcoin / Bitcoin Discussion / Re: A New Study - Bitcoin is 56x more energy Efficient than Traditional Banks on: October 03, 2022, 11:29:14 AM
I agree with them that banks make a mistake when comparing their services to bitcoin. They only focus on bitcoin's power consumption and compare it to the ATM power consumption, while bank doesn't operate on those alone. They'd have to add every single card terminal in every single store and every data center that connects these. They'd also have to add every computer in every bank branch, every piece of light and CCTV system, every server of online banking and so on. If they use electric heating in their branches they'd have to add it, along with AC, water heaters in bathrooms and many many other little things like security systems.

I am seeing that only Bigger members like hero or legendary members are giving merits each other, not to newbies or other such people. I was hoping that people who have best and good post might get merit but that's not the case 😁

Why are you so cynical? Are you in some kind of merit competition? When I see someone frustrated about not getting merit I picture them standing in the middle of a street asking people to pat them in the back or hug them. Do you need a hug mate? Grin I'll give you one!
1417  Economy / Economics / Re: Take shelter, a storm is coming in October. on: October 03, 2022, 10:40:44 AM
The current economic situation is the most similar to the 2007 crisis since Bitcoin was created, but well into October, which is a traditionally bad month for the market, we seem to be going from bad to worse.

Do you have anything to support this theory?
I have something to support mine, which is that you're making shit up.



As you can see, historically October is one of the best months for bitcoin.
It doesn't say much because each year is different and after 5 green years we finally had a red February in 2020. That said, if we're into months, let's be factual and not try to make it look worse than it is.
1418  Bitcoin / Bitcoin Discussion / Re: Net Bitcoin ATMs growth drops globally for the first time ever on: October 02, 2022, 05:48:43 PM
Not an unexpected situation if you ask me. Bear markets are a time of much lower trading activity with smart investors buying (but not through ATMs), those who feel like they're at a loss crawling into their shells for winter because they feel like they got cheated by the market and holders keep holding.

ATMs are what becomes popular in bull markets when holders take some profit and newbie investors are so hyped up that they don't care about ATM fees, they just want to get some coins ASAP.

No worries though, a halving is just a little over year before us. We've been a year into the bear market and there's probably a few months of accumulation before us.
1419  Economy / Economics / Re: SO MANY BLACK SWANS FOR ONE YEAR on: October 02, 2022, 01:06:02 PM
This develop another Black Swan, the huge jump in Energy cost.

This one trigger another one, the Inflation rises.

You're wrong here. The war in Ukraine or the energy prices did not cause inflation, covid did, or rather the way covid was handled in many countries.
What they should've done is simply distribute vaccines, introduce the procedures like gaps in lines, disinfectants, cashless payments, but they made a mistake and locked people in their homes, restricted travels, shut down hotels and restaurants. This stupidity pushed business owners to the edge of bankruptcy, so the idea of the governments was to shower them with money, but how to get money if people aren't spending because they're locked in their homes? Print it!

So, the main reasons for inflation are money printing and increased spending when people got out of lockdowns. High inflation is not a black swan event.
1420  Bitcoin / Hardware wallets / Re: Your own experience with hardware wallets. on: September 30, 2022, 10:32:55 PM
I think it's built pretty good, although the plastics are much thinner than what an average mobile phone has to offer. It reminds me of an early 2000 mobile phone.

To be fair — a Ledger Nano S was like $60 or something? Can't really expect to have a top-notch material build with that cheap of a price. Though the more expensive Ledger Nano X has a far better build.

tl;dr I guess what's important is that the device does it's job really well.

I agree, but you can get a casio watch for $50 that's built much better than a ledger wallet and I'm talking about everything here: the quality of plastics, sturdiness, water resistance (I'm not going to check but it looks like ledger has none of that). To be honest, I've seen $30 flash drives that were all metal on the outside and looked like stomping them wouldn't do any damage.
Pages: « 1 ... 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 [71] 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 ... 260 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!