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1741  Bitcoin / Legal / Re: EU Lawmakers Drop Bitcoin 'Ban' From Draft of Crypto Regulations on: March 02, 2022, 02:55:34 PM

In general, with all the current economic problems, will we hear of a "ban" of Bitcoin soon? At least in European countries?

Highly unlikely! EU wouldn't dare to ban bitcoin. They may put some strict guidelines like all mining operations must comply with Green energy norm to reduce the carbon footprint, but a blanket ban is highly unlikely to happen!

EU is a environmentally conscious continent but at the same time, economy is a challenge. So I am sure EU legislators will not take such a risky step like banning POW cryptos including bitcoin.
1742  Bitcoin / Bitcoin Discussion / Re: This Ukraine issue has me thinking a lot. In a crisis, how valuable is bitcoin? on: March 02, 2022, 12:45:35 PM
The internet and cellphone networks then fall down.

How do you intend to use your bitcoin? Is it completely worthless?

Seeing a lot of news lately like: https://mycryptoparadise.com/ukraine-suspends-electronic-bank-transactions-following-its-unrest-with-russia/

That's a valid question! Without internet, your bitcoins can't be used. I know there are couple of experiments done to send bitcoins over a radio network and it was successful as well, but that's not widely implemented. So it will not come to your aid.

It's interesting to see what other ways people can share with you for using bitcoin without active internet at large scale!
1743  Local / India / Re: zebpay started withdrawal without request on: March 02, 2022, 05:40:14 AM
I am sure you wouldn't find a lot of people using centralized crypto exchanges here. I personally avoid them, especially who are operating from India. So I won't be able to tell you what's happening! But it's great tha Zebpay didn't run away like MtGox.

One thing you can do if you want faster reply from them, is to contact them in Twitter.

Zebpay twitter handle: @zebpaysupport

They are usually prompt in replying.
1744  Bitcoin / Bitcoin Discussion / Re: Bitcoin as a means to restore people's authority over money on: March 01, 2022, 04:18:31 PM
Well yes! Bitcoin has been specifically designed to cut off the middleman from a transaction. So here we all can leverage this power and say goodbye to banking system! Isn't it?

Well not so easy! Because it's extremely hard to use bitcoin for your daily purchases. You can definitely use it as an investment quite easily, but when it comes to use bitcoin as a currency, there's hardly any merchants available with some exceptions.

So until and unless bitcoin is treated as a currency by the merchants, you have rely on fiat.
1745  Bitcoin / Bitcoin Discussion / Re: Why bitcoin is going up during war? on: March 01, 2022, 03:30:29 PM
Ok first of all I have really given up on trying to understand bitcoin behaviour, I remember so called experts said that bitcoin will touch 100k by the end of 2021 and we all know how much accurate that prediction comes out to be, then there is El Salvador we thought it will touch sky after El Salvador made it legal tender but it crashed.

And now i thought it will go new low and now it is going up, like what is happening, why it is going up in such situation of uncertainty and war?

When an asset price goes up, it usually means that demand has increased for that particular asset. Also it is pretty much self explanatory why bitcoin price is going up during a war. It means people are buying bitcoin for various reasons.

The value of Rubble has been decreased to a great extent. So it makes sense for Russians to buy bitcoin. Ukraine is not sure how their finances will work out once Russia fully takes them over, so they are buying bitcoin. These buying pressure is creating demand and increasing the price.
1746  Economy / Economics / Re: Renewable energy transition is expensive, but is resilient on: March 01, 2022, 12:58:46 PM
Upon Putin's invasion of Ukraine and the limited ability to stop the imports of gas and oil from Russia to avoid financing the military aggression. Ursula Von der Leyen today mentioned in the European Parliament that this shows how the strategy to transition to solar and wind is strategic in more than one way and is not only about climate change.

Solar and wind power and by nature quite distributed and avoid the existence of critical and dangerous energy infrastructure (e.g. nuclear centrals)

At last! Not sure how European governments are realizing the importance of green energy only now! The European people are usually known as environmentally educated people to the rest of the world. Just look at Norway how much they have done to contribute to the green energy.

But anyway, realizing is great even if it is late! So I sincerely hope that European governments will start working towards 100% green energy production and try to become self reliant.
1747  Bitcoin / Bitcoin Discussion / Re: To what extent are Russians capable of storing their riches in Bitcoin? on: March 01, 2022, 05:54:40 AM
The Ruble is rapidly losing value, and the Russian government is considering seizing residents' cash.

Bitcoin appears to be an obvious solution for preserving your wealth in this circumstance.

However, is this even possible? What would a Russian do in this situation? Are they able to just transfer their Rubles to exchange, purchase Bitcoin, and then transfer it to a wallet?

And, if so, is it attainable? Will someone who has worked their entire lives and saved money for their family's future trust a strange technique to transfer that money to a USB stick?

It is easier said than done! It is possible in small scale and at personal level if some exchanger is willing to take rubble against bitcoin. However, at large scale, it is impossible considering the value of Rubble is constantly diminishing. So it is very very difficult to find an exchanger or a group of exchanger who will be willing to sell off their bitcoins to the Russians against Rubble.

The situation is much worse than Putin has expected. From today, Google Pay and Apple Pay has stopped their services in Russia. The process to cut off Russia from SWIFT network is ongoing. So I don't think Russian riches will be able to buy bitcoins against their Rubble. However, if we suddenly see an increase an stability in Rubble's price, that may become possible. But looking at the current scenario, it seems very very difficult.
1748  Alternate cryptocurrencies / Altcoin Discussion / Re: Now it's meta here and there on: February 28, 2022, 04:13:00 PM
To all newcomers on here pls be careful with projects that start with the name "META" because they are mostly scam projects, since metaverse have become another hot cake in crypto world today this scammers are fully ready to use this on the unknowns, open your eye and do good research before taking that risk... Meta this and mate that are the most dangerous projects today, stay safe.

Not just Meta! Also there are projects ending/starting with Shiba, squid game etc. These are mostly scam projects and also a majority of the projects added in pancakeswap, are scams!

Personally, I don't prefer to go beyond top 10 cryptocurrencies to invest. These are super risky and can erode your investment at any time. If you are an investor, look for value investing instead of gambling with new projects.
1749  Economy / Economics / Re: This shows Putin got the costs of aggression wrong on: February 28, 2022, 01:03:26 PM
Russian government will face a heavy consequence for the war. EU has already announced to cut Russia off from the Swify network, crase all assets of Russian central bank that is help with ECB, ban Russia Oligarchs from carrying out businesses in EU.

Putin has gone mad and Russian common people will pay the price  a lot of foreign companies will leave Russia for good. The consequence will be severe for Russia.
1750  Economy / Gambling / Re: Would you support a collective boycott of all Russian gambling platforms? on: February 28, 2022, 06:31:02 AM
Considering the current events in Ukraine and the open aggression from Russia, what are your thoughts on the collective boycott of all Russian gambling platforms in support of Ukraine?

We know that 1xBET and 1xBit are owned by Russians. Do you know any more? Could we make a list of all Russian-owned casinos?

I'd love to support an initiative to help Ukraine! I think it would be great if we all raised our voices together and supported it.


It depends on a personal choice. However, from where I am seeing this war and getting the updates from various European colleagues of mine (including both Russian and Ukrainian), this is not a war of Russian people! This is a war of Putin himself to satisfy his sky-high ego. Otherwise, Russia is a country where open protest against government is a big no-no. If the enforcement agencies catch you, you won't return alive. Your entire properties will be ceased by the Russian government. Despite that harsh reality, I have seen hundreds of Russian people protested against the ongoing war. Many of them have been detained. So it is quite clear that Russian common people do not want war. So I don't see how boycotting a Russian gambling company will help here!

Again it's a personal choice! So anyone is free to do anything they want! But please know a fact for sure, that this is a war of Russian common people!
1751  Bitcoin / Bitcoin Discussion / Re: Binance donates $10 million to support Ukraine on: February 28, 2022, 05:41:40 AM
I'm not very focused right now, but I think I didn't find a topic about this. Forgive me if it was already posted. Binance announced on Twitter that they're donating $10 million to express their support with Ukraine. They are now gathering donations for the Ukraine Emergency Relief Fund here. The usage of cryptocurrencies and crypto businesses are starting to become relevant in the ongoing Russian invasion. Fewer and fewer areas are holding their apolitical stance, even if they used to be apolitical before. I wonder who will be next. It's interesting how Buterin will react, given that he's originally from Russia.

It's interesting to see that a business led by a Chinese man extended their support to Ukraine! The matter of fact is, China is just as same as Russia. People from Taiwan and Hong Kong knows that as they are being ruled by Chinese government for the benefit of the mainland China. I wonder if CZ will come out and offer a similar type of donation in future if China engages into a full-scale war with Taiwan. Also it's important to note that China is one of the closest allies of Russia. So CZ must have given enough thought before announcing this donation because it will not make China very happy and CZ may never be able to enter China if Chinese government takes this donation seriously.

No one wants war! But I am happy to see finally EU has decided to throw Russia out of the Swift network and also putting a ban on Russian Oligarchs who supplies money to Putin. 

1752  Economy / Economics / Re: Justin Trudeau's Crackdown Will Make Bitcoin and Cash More Popular on: February 27, 2022, 04:58:21 PM
I was really surprised to see a progressive nation like Canada had to resort to such inhumane act like bank account freeze. It was totally unexpected! However, such kind of incidents actually give more power to bitcoin or any other cryptocurrency that has value. I believe a similar thing happened during the Hong Kong protest as well during China's invasion. So yes, the protestors will be better prepared for the future.

But this is something, that will give more reasons to the government not to legalize bitcoin. So while it will increase the popularity of bitcoin among to commoners, it will also earn bad names among the government and enforcement officials because it's a very effective way to avoid government restrictions. So it is a coin with two side to it.
1753  Alternate cryptocurrencies / Altcoin Discussion / Re: Can NFTs disrupt the traditional economy? on: February 25, 2022, 04:04:30 PM
Start thinking beyond NFTs! Because it is something running on hype only! Otherwise the picture of an ape wouldn't have sold for millions of dollars. NFT is a hoax and bound to fail miserably. I am sure you would have a different view on NFT obviously.

But two years down the line, let's revisit this thread to see if NFT market has gone down to drain or not! NFT can't be the future! Tokenization is not a solution to everything.

Start looking for a real problem people face and try to solve that real problem. We don't actually need different tokena for different applications.
1754  Alternate cryptocurrencies / Altcoin Discussion / Re: Is this for real? on: February 25, 2022, 02:05:37 PM
Any country or continent can ban POW algorithm if they believe in the false narrative from the environmental workers. But does that mean, it will effect bitcoin? Yes. There will be temporary impact till the time EU miners move to a crypto friendly jurisdiction.

If the ban happens in reality, there will be other countries to rope into that opportunity and possibly provide a friendly legislative framework for pow mining. It says, when a door closes, few others open up! So that will not be an end to bitcoin for sure!
1755  Bitcoin / Bitcoin Discussion / Re: Tourism in El Salvador increases by 30% with the adoption of Bitcoin and benefit on: February 25, 2022, 11:40:33 AM
Quote from: stompix link=topic=5387252.msg59355212#msg59355212
Remembered a topic about India's booming economy here, it managed a 20.1% growth in Q1 of 2021, but looking at the big picture was still below the previous levels. France's GDP grew by 7%, the largest growth in 52 years, still doesn't mean anything.

Spot on! That's exactly the case! In India, it was the government who tried to fool people by posting a staggering number of GDP growth after a steady decline since last 3 years. It's same here in El-Salvador it seems. Both governments have one thing in common here, trying to prove that their decisions were right no matter whatever happens!

But on a personal note, I really want El-Salvador to succeed in their ventures because it will create a very positive impression of bitcoin around the world.
1756  Economy / Economics / Re: Gold is the new gold... or the old gold... or both on: February 25, 2022, 05:26:12 AM
It is with sadness that I see how bitcoin has dropped (nothing new really) in sync with the global markets around 11% last week while the old gold, AKA simply "gold" has made a rush to 6.5% in the last month. Needless to say that this is related to the war in Ukraine and the prospects of instability, not that it was unexpected, tend to draw people towards gold.

I wonder if bitcoin can still be considered a reserve of value when is following and correlating this much with stocks markets.

Gold is just gold! Unless suddenly someone finds few thousand tons of new gold reserve, it will continue to dominate the market as a capital reserve asset. There's no competition really! Gold is the oldest and time tested investment since ita inception. People who think bitcoin will replace gold, are living in fool's paradise.

That's why it is always better to have a diversified portfolio that includes all types of assets including cryptos. Bitcoin alone can't make your finance secure.
1757  Alternate cryptocurrencies / Altcoin Discussion / Re: New market model - IMOs on: February 25, 2022, 04:17:01 AM
ICO, IDO, IMO - doesn't matter whatever comes into the market, the end goal of each method is same. The end goal here is to sell coins to the people to get funding. ICOs were a big thing back in 2017 but failed miserably due to the high rate of scams. Few people who have invested initially in ICOs, made money including me. But majority of the investors have lost money from such investments.

The market is overrunning with thousands of dead coins with no takers. I don't think we need more coins for whatsoever reasons. So even IMO is going to fail as it will introduce a new coin into the highly competitive market where we DON'T need separate coins for separate activities.
1758  Other / Politics & Society / Re: The Nazi regime of Russia started a war against Ukraine! on: February 24, 2022, 06:31:33 PM
CIT: Russian military uses banned missiles
MLRS is an indiscriminate weapon that can cause harm to civilians. Attacks on populated areas with the use of such weapons is a war crime.

Russia is fascism of the 21st century!


Can't agree more! But not just Russia, China is in the same league! The matter of fact is that, both countries are ruled by communist governments and both of these governments are expansionist in nature. The heat Ukraine is facing today, Taiwan and Hong Kong have been facing since decades with China. Sometimes it is hard to believe that we are standing in 21st century.

This war has a grave chance to become world war 3 if other powerful countries join hands against Russia. China will then surely come to the aid of Russia due to its own vested interest. It's a sad incident to see and heartbreaking at the same time. I have couple of Ukrainian colleagues who are currently residing in UK. They are all very worried about their families back home. The global economy has already started trembling!
1759  Bitcoin / Bitcoin Discussion / Re: Buy Bitcoin, You'll Thank Me Later - Mexican Billionaire Says on: February 24, 2022, 01:05:20 PM
You don't need to be a genius to understand that the best time to buy bitcoin is - now! We all will have to be on lookout to buy at every dip. It's a bit insensitive as well because we are buying bitcoin at discount due to an ongoing war, but this is something we must not overlook.

It's very unfortunate to see a war happening in 21st century due to the expansionist mentality of communist nations. But if you have some investable surplus, put them in bitcoin!
1760  Bitcoin / Bitcoin Discussion / Re: MEXICAN SENATOR PLANS TO INTRODUCE BILL TO MAKE BITCOIN LEGAL TENDER on: February 24, 2022, 07:30:54 AM
When it comes to El-Salvador, it makes sense to notify bitcoin as a legal tender because the population is miniscule. I am not sure how the entire thing will pan out for a large country like Mexico with a population of roughly 130 million. If in reality, bitcoin becomes a legal tender in Mexico, I am not sure if the network can handle such volume. Because such legalization will lead to high demand which will definitely drive the price up, but when it comes to handling the transaction volume, bitcoin network isn't capable enough to handle the pressure from such a huge population.

However, it is a net positive if Mexico plans to adopt a sidechain like LN and process transaction through them. If this transaction volume comes to main bitcoin network, we all will be doomed with high fees.
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