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1701  Economy / Economics / Re: Texts exchanged by Binance CEO and Sam Bankman-Fried as FTX collapsed on: December 20, 2022, 09:20:45 PM

Supposedly, the above text exchange between SBF and Changpeng Zhao of binance, was collected and published by the new york times.

When COVID hit, I read hundreds, if not thousands, of different articles and watched what documentaries I could find published on the topic. To try to get a better idea of what was happening.

With SBF and the FTX crash, I'm doing my best to completely ignore everything about it. But it seems, I randomly stumble across many published pieces like the above which are difficult to believe are real.


It's fascinating to see how these supposedly super intelligent and super rich people really are clueless when things start to run away from them. It just shows you how fragile the crypto markets really are if the owner of one of the biggest exchanges in the world is concerned about FTX selling a batch of $250k in tether tokens. You can tell it was a rather fractious and loose friendship, but they have probably had a few wild nights partying together in the past. I found it really interesting to see all the messages that were exposed from Elon Musk within this batch of conversations, because he also talks very loosely about business deals and definitely does not have any sort of master plan, it's all so reactionary.
1702  Economy / Gambling discussion / Re: Is The Gambling Industry Part Of The Domino Effect That Happens In The Market on: December 20, 2022, 08:49:48 PM
There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX.

 - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market?
 - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what
    money they have that belongs to the gamblers?
  - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges?
  - What would gamblers think if a casino does not agree to show proof of money from new and old casinos


It seems like a sensible idea but would have to be done in a way that does not expose casino cold wallets to unnecessary risk. If an independent auditor was perhaps involved who could come along or automate a process to look at reserves once or several times a day, that would seem like a good way to do it - as long as the auditor was insured to cover any losses from making a false claim if the casino went out of business. In reality you should not keep very much in your casino wallet anyway, barely enough to cover a days worth of gambling and do not treat it like your secure wallet, that is the safest way to protect yourself if you frequent this sort of website/app often.
1703  Economy / Economics / Re: Only one way to save people now on: December 19, 2022, 09:42:35 PM
Look at world economy and people struggle with bills.
Look all that things most people not gona be fit enough to pay their bills.
Europe UK very bad situation and now when people need most credit the Banks don't give.

The solution is Simple leave fiat banks and go crypto.
Until there is no Fiat eur or GBP Stable coins we can use as central reserve Stable currency USDT.

Goverment and Banks failed so leave them and let them sink in their own mess what they created.

Crypto is only way not CBDC but btc and USDT nobody actualyy don't want anything from bankers anymore.
People Will use btc and USDT

If you disapoint once dont think people gona trust you twice. Off course dont cry or complain later If you trust them again the bankers and goverment it's ur own fault then

Business owners If they are smart knows only way they can survive is crypto.

Cash fiat currency as USD can stay becouse it's good to have USD in hands becouse we all gona use USDT Stable coins anyways.

You seem to think that having a new currency miraculously solves problems in a whole bunch of countries, when it does very little. It doesn't matter what currency your bill is priced in if you cannot afford it in apples or oranges. In reality the existing payment networks are actually a lot more efficient when it comes to security, energy usage and traceability to catch people abusing the law. While the blockchain and bitcoin are definitely a novel concept that shows what a future decentralized currency could look like, even Satoshi would say that it was just a proof-of-concept that needs a lot of work before it can scale to support all the world's transactions in a timely and cost effective manner.
1704  Economy / Gambling discussion / Re: Slow down if you want to recover your losses on: December 19, 2022, 09:19:43 PM
I want to share my own technique on how I overcome my loss. You can share yours too on the comment below.

I recently experienced a heated game session on blackjack that I never experienced before due to I over extent my budget to chase loss. I was down by 200$ while my current bankroll is only 100$. Typically most user will do all in to quickly recover losses but my strategy is to slow down and bet only on craps 5$ on each number. Craps has a low house edge because your only loss is when 7 appear while the rest of the number that you didn’t choose will just result as draw.

Craps pays x2+ per win which is good to slowly recovering my losses. I just continue same bet and stop gambling for a day after I recover 50$ of my bet. I keep doing this per day until I completely recover all my loss slowly and rest for the week.

The slow down bets makes me think clearly and stop me for doing risky bet. This is most important lesson I learned on this messy situation.

You are playing games which you have illusion of control over and admit yourself that the house has an advantage. Unless you switch to a skill based game you are destined to lose all your money slowly forever. It is simple mathematics and worse than that, casinos can quite easily run algorithms that are designed to run you hot and cold during different time periods to entice as much of your money in as possible. The only sensible gamblers out there are those that identify the odds against them, accept that they will not make money against these casinos in the long run and stop playing. These casinos are not charities, they have huge bills to pay and all of that money is coming from the pockets of gamblers just like YOU.
1705  Economy / Economics / Re: Retailers make more profit than wholesalers during inflation. on: December 19, 2022, 09:03:36 PM
There is a say that 'the rich gets richer and the poor gets poorer'. Retailers are making more profit than the wholesalers and manufacturer during inflation. The poor always buy from retailers because they are the final consumers, while the rich buys in bulk this means they buy directly from the wholesalers. Last week the bakery in my area closed down,due to inflation in flour price,thinking this will be the solution. There was no bread for three days. After three days,the bakery opened and everybody was happy but this time,the bread price increased with 40 naira. A pack of 6 was sold at 410 naira wholesale price,80 naira for one retail price.This shows that the retailer gets 70 naira profit after selling a pack of 6 which is 480 naira. When the bakery reopened a pack of 6 is sold at 450 naira to the retailer, the retailer now sells 100 per one,i.e 600 for the pack.The wholesaler buys from the bakery at the rate of 360 naira for a pack before shutdown and sells 410 naira, after re-open he buys at 400 to sell at 450 naira.
 

 From calculation we can see that before the bakery shuts down,the wholesaler was making a profit of 14% but after the bakery reopened he makes a profit of 12%. The retailer was making a profit of 17% before shut down but after the bakery reopened, he makes a profit of 33% which is almost double of his profit.
 Is it that as long as you are selling essential commodities, inflation doesn't affects your business instead you make more profit.

It's impossible to make such a wide and sweeping statement across all products, at least without evidence, because there are so many factors involved. We are currently in a time of massive inflation which is eating into the profit margins of producers, wholesalers and retailers. Ultimately it is producers and retailers who in most cases control the profit margins at all times because wholesalers are simply middle men who try to make money by buying in bulk amounts from suppliers. The overall state of the economy also plays a big factor because in recessions when times are tight then wholesalers often struggle to shift much stock and can be on the hook for inventory while retailers are ruthless in their pricing offer.
1706  Economy / Gambling discussion / Re: How are Online casino's and sports betting platforms coping? on: December 19, 2022, 08:47:47 PM
Online casinos and sports betting platforms are big businesses like we all know, and currently considering the economic situation of things around the world many businesses are affected and have been taking measures to cut costs in terms of reducing staff, taking loans etc to still be able to sustain operations. How do you think online casinos and sports betting platforms are adjusting to manage the situation?

In bad times casinos do well, in good times casinos do great. There may be less players with money around during the middle of a recession, but if you consider the very low operating costs of an online casino (at least in comparison to physical casinos), then you can understand that they are massive money makers regardless of the current economic conditions. You would have to find some extremely bad management or a chain of very unlucky events to take down these gambling enterprises which at the biggest level are making their owners millions or tens of millions per year after all other costs are paid. The owners of the biggest casinos here are able to afford some big yachts and if they're wise then they have also diversified.
1707  Economy / Economics / Re: Tesla’s stock prices dropping fast on: December 18, 2022, 09:19:07 PM
Tesla’s stock prices have seen a decline of about 20% in the last two months following his purchase of the social media app twitter.

It’s clear to me at least that his recent acquisition and handling of the social media app has in a way, contributed to the decline in the stock price of his automobile company.

https://www.ibtimes.com/tesla-stock-price-has-plunged-28-since-elon-musks-twitter-takeover-3646963

In many ways it was inevitable that Elon would abandon ship from this company eventually, he is a very manipulative figure and currently tied up with his vanity project Twitter - which he vastly overpaid on but it feeds his psychopathic and narcissistic behavior. Tesla made most of it's money for many years from selling it's carbon credits to other automotive manufacturers, but they have caught up now and are starting to be ruthless competitors again. Tesla doesn't have much unique and many people bought into it just because it went up in value without doing a proper analysis of it. Ignoring stock splits it went up about 10 times in price from 2019 onwards, so a correction was bound to happen because it simply was not profitable enough to justify it.
1708  Economy / Gambling discussion / Re: Types Of Online Casinos To Avoid.. on: December 18, 2022, 09:09:20 PM

Online Casinos Without Online Presence/Community

From my observations, I think online casinos without online presence or community of users are likely to scam any user and get away with it easily, and it doesn't matter if they have a high trust rating, this is because when they refuse to process your withdrawal and the customer support is not responding or not helping, the user in reality have no place to complain that will force the casino to pay him of lose a great number of their users if not all...

Like for example, if a casino have a community on bitcointalk, and you are a user of that casino, at any time you have an issue with that casino and the customer support is not helping, bringing such issue to their community on bitcointalk will force the casino to find solution(s) immediately so that they don't lose their other customers in the case where they are the ones at fault..

But a casino without any kind of community anyway, if as a user, you encounter any problems and the customer refuse to help you, you are absolutely helpless, and complaining on forums where the casino is not even known won't help because it does not affect the casino on their business, they probably won't see your complaints, neither would their other customers do, so certainly, they won't answer and their other customers also don't know what is going on.. So it is best to avoid such casinos in my best opinion..

This is just one out of many types of online casinos to avoid, so let's make the discussion long, what other types of online casinos do you think gamblers should avoid? You never can tell, your advice might help someone in a short of long way.

It seems like a natural evolution that a casino or sportbook would grow a presence online as they try to attract their customer base. One of the best ways to grow customers in this lucrative and highly competitive business is to make sure your name sits among all the other casinos on places like this or review sites. The only way to do that is by making connections, keeping customers engaged on this type of community and dealing with situations where a customer feels aggravated. If you were to ignore places like this, leaving complaints in the public forum unhandled, then it gives an impression that your site is not trustworthy which is a major part of getting customers to deposit in the first place.
1709  Economy / Economics / Re: fiat commodities vs crypto commodities(assets) on: December 18, 2022, 08:18:41 PM
ok first.
a commodity is a base product used to produce other products
300 years ago this was raw produce..
such as
beef=burger
gold= jewellery
oil=fuel

it then evolved into
mortgage agreements=derivative baskets

and now they(regulators) wish to call any mainnet(base producer) crypto currency that has a bridge/peg mechanism to a token. to be classed as a commodity
EG
ethereum=NFT erc-20 tokens like FTT
bitcoin=liquid

..
so now lets delve into my point of comparison between how the fiat commodity market of say wheat. compares to the crypto commodity market of say ethereum

fiats crypto commodity of ethereum has no limited supply much like wheat
but bitcoin does have a limited supply (like gold/oil)

so when deciding to get into the wheat or ethereum market. both are comparable.
however some notable fiat investors such as warren buffet dont actually buy wheat stock. instead the buy farms that produce wheat. so that if wheat has a good year the farm has a good year and thus buffet wins via a better farm valuation.
if wheat has a bad year. buffet can still sell the farm and recoup some value from seling the land, harvester equipment,

however in crypto. because it doesnt own land or buildings to set up a crypto business
if avoiding ethereum but wanting to buy a company that creates/uses ethereum.. those companies are not actually valued as well as real commodity produces of farming wheat

EG buying an exchange like FTX has no fully owned office space, and employees work remotely thus no electronic assets to sell. (they rent amazon AWS servers)

this means for instance if you bought into FTX becasue they do stuff with ethereum.. if their ethereum deposits have a bad year. ftx has nothing of value... as we all learned
(ftx had alot of ethereum an its other tokens were ethereum pegged tokens)

mining pools or staking syndicates have no central land/office/servers that have value to the company(its all decentralised)

so the warren buffets of fiat investment. dont want to get into crypto business purchasing and have never been into buying the underlying commodity(asset) whether fiat based or crypto based

this is also true for the so called "trusts" (premature ETF's)
though they sell shares/tokens of a trust and have collateral of commodity assets. the fiat investors that plan investments the same way as warren buffet wont buy the trust shares or even ownership stakes of the management companies of the trusts.

even if regulated(some think its   the hold up of mainstreaming) to show accounting and viable/sustainable reserves. if the commodity prices shrink. there is not enough office building ownership or land or equipment of these crypto companies to have a separate good value worth investing in as a backup to the underlying asset stored in collateral

again take FTX. it has no land, bought office or equipment. it was run by about 60 people who mostly worked remotely. thus there was no company equipment to put to auction should their FTT and ethereum (and bitcoin) disappear

there is no way we can get the warren buffet investor types to see crypto as something they would invest in even with extra regulation

You seemed to get confused about half way through your ramble. The FTX company, like any other, was valued on what it could earn, it's customer funds did not show up on it's books as company assets (that it owns or can spend). FTX was making money from all the different fees, through different transaction types, that it was able to charge it's customers for being the guardian on those funds. At least that was how it was meant to work in practice. If it was a properly run company then customer funds would have been segregated, they would have moved in value with the market, but no creditors would have be able to take them away in an administration process if it failed - we can see all that was an illusion however because they were abused.
1710  Economy / Gambling discussion / Re: New Solution to Address the Problem of Gambling in Australia. on: December 18, 2022, 11:55:35 AM
Sportsbet, an Australian betting giant, has said that it will support any move to prohibit the use of credit cards for gambling. The operator said that this type of payment method promoted a “play now, pay later” culture which was detrimental to the well-being of players and consumers. Here is a summary of the news below

The problem:Gambling with credit cards is high-risk in nature and could have serious financial consequences.

Proposed solution: Responsible Wagering Australia is putting forth a new interactive gambling legislation should block operators from offering credit cards as viable payment methods.

The Challenge: If this legislation is implemented, it would also affect lottery tickets, which would not be purchasable through credit cards anymore.

How Sportsbet is working to address the problem - They are building a “real-time intervention” solution that will allow it to leverage the power of AI to quickly predict customers’ daily deposits and send alerts when the depositing amounts begin to climb up too rapidly.

What other solutions can you think of?

This is really not a ground breaking concept and is already in place in many places like Europe, Australia are far behind in this respect. No doubt Sportsbet.com have made a decision that the bad press simply outweighs the ongoing benefit from the massive amount of money that they've raked in previously from credit card spending along with the massive debt that's put people in. No sensible politician could ever defend such a practice, as not only is it making casinos obscene profits, but the person afterwards is left with credit card debt which can be some of the most expensive interest rates you will pay to borrow. Undoubtedly they are trying to get ahead of the inevitable ban which should have happened long ago.
1711  Economy / Economics / Re: Bodyguards and security service Will be booming soon for sure on: December 17, 2022, 11:58:33 AM
No better business soon then bodyguards and security.
AS we Also see that a lot scams happening for example FTX and now it look like binance is next.
But not just crypto other instutions scam people Also all of this creating more violance in the world and stress.
People who feel unjustice Will be unpredictble.
You better start IPO and ICO crypto start up companies with security and bodyguards service related.
Security will be only booming business for sure.
And off course the funeral service Will be booming Even more becouse many people Will take their Life by their own becouse many people Lost and lose money in crypto now and no more christmas for them.
The rich people the top elite right now scam everybody else in the world that's the process what's going on now and many people lose all the money

Crypto exchanger ceo-s need most of those services lol 😃

Off course If they go to jail it's safer there but not together with general population lol 😁

Nothing much has changed, crime will tend to tick up a bit in recessions, however the richest are likely to keep their teams the same size if they have them in place already. The only thing that might nudge them to increase the size is if their wealth goes up or if they have received particular threats or think they are in danger for some other reason. What a depressing though about funeral services, but I guess nothing changes there either, in bad economic times when people feel a lot more desperate or don't have enough money to survive then tragedy is more likely to strike in different forms. The fact that food and energy costs are high could cause a lot of misery.
1712  Economy / Gambling discussion / Re: Fees on Dormant Accounts on Crypto Gambling Platforms on: December 17, 2022, 11:32:24 AM
Are you familiar with this? Or has anybody here been actually charged for having his/her crypto gambling account inactive for several months?

The monthly charge could be as high as 15% of the remaining balance. Or, worse, the entire balance could be withheld by the platform itself. Although it could be for security's sake and be returned upon request, who knows what conditions or perhaps KYC information they would require just to have your money back?  

For the sake of discussion, let's set aside the fact that one shouldn't leave money in gambling account wallets. Do you think this policy is fair?

This is similar to a bank policy that requires accounts to have transactions every now and then or be active or else dormancy fees could be charged. But this feels weird to a gambling platform. What happens to seasonal gamblers who don't mind leaving money in their account wallets? One could only be betting during annual work breaks or vacation or during annual sports championship events. Say, the NBA playoffs, The International, and others.

Edit:

As suggested, and probably for the interest of a better discussion, I'm quoting here a post of mine which mentioned a few crypto gambling platforms that are actually implementing certain policies pertaining to funds of inactive and dormant accounts.

It's pretty fascinating to see the range of different options that different casinos use to seize customer funds. In some ways I can see the justification for it after the account has been dormant for a year, because it might just be some "dust" left over in many cases and the person has long abandoned the casino with no intention to return. That seems like a fair amount of time for the casino to keep it open, although if they were super responsible they might just keep a note of the number and restore it if requested later. In reality there are no administration requirements at this point, as it can all be automated by scripts, they just try to add a cost so they can absorb the remaining funds without question.
1713  Economy / Economics / Re: One way to provide good liquity to markets and bail out economy on: December 17, 2022, 11:22:12 AM
Yes the solution is simple to provide liquity to markets and bail out exchangers like FTX then we get safer Streets people Will be happy and economy Will be booming.
Also this money can be used to push up btc price doge shiba so to make crypto traders happy again and prosoerity Will come
Also Market can be Nice volatile shorts and long positions getting payed Nice again Smiley

That way i: 401k the retirement funds all over the world specially Norway Has one of the biggest one.
If we use all that 401k funds all the liquity problems Will be solved very easy.
The guy who's very smart named Kevin o leary want Also the retirement funds come in crypto it should provide for binance futures insurance scheme funds.

The money what is stand still on the 401k we should put in work
And we don't need bodyguards and security lol 😃
And the good thing about using existing money is that we dont need to print money so we dont need to be afraid of inflation If we do use old money the retirement funds of the 401k

You see guys how smart i am so good solution i have.

Plz Merit If you like my idea Smiley

You seem a little clueless the the actual numbers involved in the economy if you think these exchanges falling over have any effect on the financial stability of the wider economy. There are much greater things happening, like inflation, war and supply chain issues - these are the things having a real impact on the economy. Nobody is going to bail out these exchanges, because it doesn't affect the wider public and only affects people who gambled with their money by storing it there. There's no need to talk about 401k's or anything else, because those have trillions stored - the 8 billion that FTX lost is irrelevant to that scale. You really need to get a better grasp of economics and investing before sharing such ideas, as it looks a bit silly.
1714  Economy / Gambling discussion / Re: How was your first attempt to play gambling on: December 17, 2022, 11:15:44 AM
We all have a different experience how we started our first bet. Their are people who started bet without having any knowledge concerning it. Their are some people started with a help from a friend to bet and their are some who took their time to learn before they started paying bet.

How was your first start? Did you play blindly or spent some time to learn.?

I think everyone has played the lottery at some point in their lives and it's a form of gambling that is somewhat more normalized, that was probably the first introduction to it. Besides that, playing poker in a live setting in the biggest city of my country was the first real interaction, I remember saying that I was new to the table and several people there looked like they thought there may be an easy target. Played very tight and only a few hands out of maybe 50, but walked away up a couple hundred with a relatively low buy in, so it was a great experience. However looking back it was very much luck and maybe the players there were not as good as they thought.
1715  Economy / Economics / Re: Saving one third what you earn monthly is not that hard, isn't it ? on: December 16, 2022, 08:23:53 PM
If you are in twenties or early thirties and remain single, earn $3,000 after tax per month, you will probably save $1,000 if you, let's say, spend $500 to $800 on rental, a guest bedroom in a shared house/apartment, $500 on food, $50  on utilities, $150 on phone/internet bills, $400 on commuting costs or gas/maintainance if you have a used car, $200 on occasional entertainment or others. This $1,000 savings will allow you to invest or place a house down payment when time is ripe. Is this possible based on where you live ?

It seems like it might be an easy target but it's dependent on many individual circumstances - if you have kids to support then any spare cash might quickly disappear unless you're very careful with it. If you live alone and very frugally you might be able to save half or more. I'd say the more important thing is to learn about and choose to take on a bit of extra sensible risk by putting the money to work investing - for most people index funds would perform the best over individual company shares. Saving is unlikely to perform very well in times of low interest rates, as when rates were low you'd find it hard to find a bank paying out 2% or more, while the stock market was paying around 5-7%
1716  Economy / Economics / Re: Will Nuclear Fusion be a reality in the next decade? on: December 16, 2022, 07:58:53 PM
According to CNN, researchers have hit a milestone in Nuclear fusion, I think this new development will change the power tussle to favor the US, if this technology can be fully harnessed they wouldn’t need to depend on Russia oil. But the problem is no one knows when this will happen, it took decades of research before scientists could make this breakthrough. When we do get the knowledge to harness the potentials of nuclear fusion, I believe there will be a battle between the private oil companies and government, they will fight and lobby to keep their billion dollar profit machines and their friends in congress will help them. It is our responsibility as a people to demand for restructuring of our energy to a cleaner and carbon-free environment.

Source: https://amp.cnn.com/cnn/2022/12/12/politics/nuclear-fusion-energy-us-scientists-climate/index.html

It's definitely fascinating to read about the leap that they've made and it could really be one of the biggest leap forwards humanity has ever seen. However it still seems like there is a long way to go, because while they made more energy than they put in, they would need to scale it up massively to cover the cost of the energy from the laser, but it's the first step on the way completed. What I found as perhaps a curious side effect - maybe I read it wrong - was that helium was created from the process, which is currently is a finite resource on the planet that is irreplaceable. If we figured out how to produce it as a byproduct of this reaction, that would also be of massive benefit for it's many uses.
1717  Economy / Gambling discussion / Re: Better Ways To Manage Energy Consumption For Casino Centers. on: December 15, 2022, 08:43:15 PM

It is important to keep in mind that slot machines run on a normal household 120 Volt AC grounded outlet. As great as this sounds, one has to find good ways to optimize the electricity consumption. One has to properly monitor, track and report the things that negatively affect energy usage for both small and large area per square meter centers.
 One must know how to use real-time data on billing methods, power quality and operating history to track maintenance needs and to help others(possibly staffs) around understand the significance of being energy-efficient.

To stay afloat in the casino business or any business of sort these days, it is important one has total control over electricity usage. Since energy demand for this resource has drastically increased, so has the cost of getting it and maintaining equipments because the faulty ones can impact the electricity costs too. One of the greatest mistake a business owner can make is to allow efficiency come at the cost of productivity.

What are some better ways to manage energy consumption for casinos in these economic recession times?

Seems like a rather abstract topic of discussion but energy consumption and conservation is definitely a hot topic at the moment. It is definitely going to vary wildly on what a casino can do to alleviate the power consumption aspect, as most people know they are often fully lit to confuse gamblers into forgetting the time of day and full of all sorts of glaring flashy lights to trigger curiosity. Maybe it is the local governments that should, via a fair taxation system, encourage these sort of businesses to be more responsible with their power usage. That could be a positive (carrot) in the sense that they are encouraged to fit solar panels at discounted rates or get punitive rates if they use more than necessary (the stick) approach.
1718  Economy / Economics / Re: This could be the biggest news in 2022 on: December 15, 2022, 08:23:17 PM
Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars .

The name of the bank is Bankhaus von der Heydt which was founded in 1754, the deal is already signed but the reason for this post is to understand where this is going.

Banks aren't ready to buy Bitcoin but now Bitcoin is buying bank? This is the most mind-blowing news of the year, I don't know about you guys. Here you go if you want to read more

Possibly some of the dullest and most irrelevant news really - certainly nowhere near the biggest story of 2022. We see FTX collapsing after losing $8 billion worth of customer funds due to incompetence and fraud, helping drag down crypto assets to new lows, that's a huge story. This is just a marketing gimmick that doesn't change the landscape at all. People are using their bank accounts to buy bitcoin for over a decade now, banks are fully in the loop and helped to fund the bitcoin boom from day one - they just don't want any direct exposure to the asset. They leave that to their investment arms or special hedge funds that are segregated, as they have a responsibility to stay stable and protect their customer deposits.
1719  Economy / Gambling discussion / Re: What New And Other Casinos Should Do To Get To The Top And Edge Top Casinos on: December 15, 2022, 08:01:52 PM
The Cryptocurrency casino is a multi-billion dollar industry and those who are already on top are spending more to stay on top because being on top means you enjoy the trust of the gambling community, you are preferred over the other casinos and you can double and triple your profit when there are special events like the World Cup

What new casinos or other casinos must do to land on the top 5 casinos in the industry, spend a lot for marketing, get a celebrity as the Casino's Ambassador, and address all concerns and issues what are the other factors they need to do for a new casino to catapult itself on the top.

It's definitely a difficult demand to break into that exclusive top 5 list at this point. The casinos that have established themselves there are sponsoring major sports competitions and they've spent many millions to get their name out there. They continue to spend and have a loyal customer base because they're able to self sustain with the income from customers while also offering many perks like free bets/welcome bonuses to entice players. It will cost a hell of a lot of money to gain traction, but to do so you'll also need to offer the breadth of casino games and sports betting functionality which will also cost huge setup fees to make sure it's all kept to the highest security standards.
1720  Economy / Economics / Re: Forget a return to office: We’re living in the age of side hustles on: December 15, 2022, 07:37:30 PM
The following could explain how many americans are supporting themselves despite not being officially employed.

Quote
This past year, 39% of American professionals participated in freelance work, either part-time or full-time, according to Upworks new survey of 3,000 adults. Thats equivalent to 60 million Americans, up 3 percentage points since 2021 and a record high since Upwork has performed said survey starting in 2014.

While it is not mentioned, I am wondering how many "freelancers" earn income in crypto related ventures? Crypto being one of the bigger employment and revenue creating opportunities of recent times, is it possible that a significant segment of side hustles are crypto based ventures? Or is the trend more evenly distributed throughout ride sharing apps, amazon delivery freelancing and purely internet based activities?

Generation Z appears to be the largest freelancing demographic. Which makes sense given they're probably the most internet and technology literate. I think generation Z is also the largest crypto using and supporting demographic.

With concerns lingering over future job automation and lack of wage growth. Could side hustles and freelancing work represent the natural progression for the future of job markets? If this is true, then could crypto also be prominently positioned to best leverage and fulfill needed areas of freelance finance, given its flexibility, adaptability and rapid deployment capabilities.

It's not like the vast majority of people ever worked in an office to start with, that could be considered a "white collar" job with the comfort associated with it, as opposed to service, manufacturing or other jobs which employ many more people. I'd say rather than diminishing the salary or full time jobs, the technological improvements are a massive benefit in the earning power of people who embrace it properly. It gives people the opportunity to improve their lives if they are willing to put a bit more of their private time into it. As long as people give themselves enough rest and find a balance that works for them, then it would seem to be a great achievement of modern society that these new revenue streams are available.
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