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1781  Economy / Economics / Re: Italy Is Held Back by 2.6 Million People Who Have Given Up on Work on: June 09, 2022, 11:02:34 AM
It's not just Italy. All southern European countries have big numbers of unemployed people, who aren't actively seeking a job. Spain and Greece also have this problem. I'm not sure about Portugal or the Balkan countries, though.
This is what you get, when you combine a generous "welfare state" and not-so-attractive minimum wages. Many people don't find a valid reason to get a job and waste their lives working hard for a minimum wage(while staying poor).
Southern European culture adds something to the situation. Being hardworking and discipline isn't cherished in the South. The people prefer having a good time, rather than wasting too much energy on dumb activities like working in a 9/5 job. Grin
1782  Economy / Gambling discussion / Re: Minor Protection From Gambling on: June 09, 2022, 06:45:10 AM
Quote
Minors had been flocking to the online Casino site without any restrictions.  They can blatantly access gambling sites with their parents' cards, fake their identities and so on.

So the minors are smart enough to fake their online identity? Really? This seems suspicious to me.
So they use their parent's debit/credit cards to gamble? Can't their parents view the transactions on their bank accounts? Can't they reverse unauthorized credit card transactions? If your kid is using your credit card to gamble, you are a lousy parent.
This new KYC regulation won't solve the problem. The real problem is the unregulated casinos that don't require ID verification. Who is going to stop those casinos from accepting underage gamblers? Another part of the problem is the aggressive advertising of casinos and sportsbooks.
1783  Bitcoin / Bitcoin Discussion / Re: Bitcoin and Human Rights on: June 09, 2022, 06:21:11 AM
I don't get it. So basically USA has to be a crypto-friendly country, because millions of people around the world live in countries where:

Quote
“local currencies are collapsing, broken, or cut off from the outside world.”

And also:

Quote
tens of millions of others living under authoritarian regimes or unstable economies.

This doesn't make any sense. USA isn't some global empire(despite being the actual global empire). The US legislation is NOT global legislation.
The cryptocurrency regulations in the USA have nothing to do with the millions of poor, oppressed people, who are living under totalitarian regimes. The countries with authoritarian regimes have their own laws and regulations.
The people, who are living in countries with weak national currencies and political oppression can still use cryptocurrencies illegally.
1784  Economy / Economics / Re: The Fed's purpose of "QT" or Quantitative Tightening. on: June 08, 2022, 11:30:30 AM
QT is merely an act for the Fed to control demand by removing cash/liquidity from the financial system. But before the people feel the real effects of QT, what will happen is, your savings will diminsh because of inflation, then as inflation is felt by companies through increasing expenditures, job lay-offs after another will happen. It's already starting. Tesla will fire 10% of its work-force, Coinbase has also started laying off some employees. Plus with less liquidity, some of these big banks/companies WILL start to FAIL. What would then the Fed do? START QE BRRRRR-MONEY-PRINTING AGAIN, AND BAIL OUT THESE COMPANIES! WAIT FOR IT IN 2023, OR 2024! New Bull Cycle after that. Cool

Who the hell cares about Tesla? They are a government supported company, that would have gone bankrupt long ago, if the government wasn't financially supporting their pretentious and failing business. Does anyone really believe that electric cars and big li-ion batteries are the future?
Anyway, this QT thing seems a little bit exaggerated to me. The Federal Reserve cannot risk creating another big depression by extracting too much money out of the circulation. The process of QT will most likely be slower and less stressful for the economy and the financial sector.
The central bankers might be corrupted, but they aren't that stupid.
1785  Economy / Economics / Re: Jamie Dimon says ‘brace yourself’ for an economic hurricane on: June 08, 2022, 10:59:38 AM
Damn, what a deep analysis. Grin
Interest rates going up, war in Ukraine, food and fuel prices going up, market liquidity going down. We already know this and we don't need the great "analysis" made by this clown. He's more like "captain Obvious". What could we possibly do without Jamie Dimon pointing at the obvious stuff, that is happening around the globe right now? We desperately need him and his BS opinions about everything. Grin
Jamie Dimon talking about "sunny" weather, "storm clouds" and "hurricanes". Is he a meteorologist or something? Grin
Maybe he could resign from JP Morgan Chase and become a real meteorologist.
1786  Economy / Gambling / Re: Stake and primedice are the worst gambling sites on: June 08, 2022, 05:48:44 AM

*Almost perfect.

Just lmk ask, for being known by who? Stake? A website which the only goal is to take all your money? xD

Just a note: almost all high rollers have "private profiles". I havent never seen a race winner with public profile and/or statistics.

Aren't all casinos designed to "take all your money"?  Grin Isn't wasting your money for fun the whole point of gambling?
You know the saying "the casino always wins in the end". If the gambling websites were losing most of the time, they would be bankrupt.
If you have serious evidence about being scammed, just post it in the Scam Accusation forum.
I'm not going to advocate on Stake and Primedice. Maybe they do have flaws. Lots of people are using them. I don't know why. They must be doing something right.
Are you gambling with the expectation of making money?
1787  Bitcoin / Bitcoin Discussion / Re: Could Bitcoin's transparency be its downfall? on: June 08, 2022, 05:23:37 AM
1.I hate the concept of "tainted money" or "dirty money". Some lazy bureaucrats have invented this concept, so they could do less work trying to find criminals and money launderers. The lazier the bureaucrats the dumber laws and regulations we get.
2.The Bitcoin protocol isn't written on stone. The protocol could be adapted to the new conditions and it could be improved as well.
3.Why would Bitcoin's transparency be it's downfall? The "powers that be" (governments and central banks) like transparency(to some extent). They don't like complete privacy and anonymity. Do you think that privacy coins like Monero will ever become mainstream? I don't think so.
1788  Economy / Speculation / Re: BTC price suddenly dropped from $ 31K on: June 07, 2022, 11:36:49 AM
OP, you have a legendary member account.
Why do you react as a some kind of newbie, who freaks out every time the BTC price drops by 1%? Price volatility is a normal thing for Bitcoin, Why there are people, who still get surprised when the price moves up or down 5-10%? Are you a day trader or something? Grin
I expect the Bitcoin price to stay in the 20-30K USD range for more than a year. The only thing, that could possibly create a huge bull run towards new ATH is the end of the war in Ukraine, which isn't going to happen in 2022 for sure.
There's no point paying attention to the BTC price every day, if it goes up-the pump would most likely be very small and temporary, if it does down- just HODL and buy more BTC.
1789  Economy / Economics / Re: Can Central Bank Digital Currencies Kill Cryptocurrencies ? on: June 07, 2022, 11:14:05 AM
The conversation about CBDCs keeps repeating the same old questions. Grin
We've been discussing Central Bank Digital Currencies in the last 3 years, and AFAIK there's no active CBDC in circulation currently.
CBDCs can't kill crypto, but I'm sure that the "average Joe" would embrace CBDCs faster than crypto, because the government stands behind CBDCs, which means that they are "safe and secure" (sounds like a joke to me). Grin
There's no point arguing against the crypto haters and their BS about crypto having no intrinsic value. What is the intrinsic value of fiat?
The crypto haters are projecting the cons of the fiat financial system over the cryptocurrency world.
1790  Economy / Gambling / Re: How do you know how to trust online sportsbooks? on: June 07, 2022, 06:32:23 AM
Hello everyone, I've been using online sportsbooks for a while now, but I wanted to know how do you know how to trust those sites? What do you look for in them, what are some red flags for you, that kind of stuff. Hope it makes sense and please share what are your favorite online sportsbooks.

I look for online reviews(real reviews, not the fake ones), good website design, active customer support, big marketing budget(because the sportsbooks, that are spending lots of money on advertising are most likely willing to build a legit business).
Other things that I look for are the deposit and withdrawal payment methods and the gambling license. Just the usual stuff. Why are you even asking this question? You say that you've been using sportsbooks for a while now, didn't you come up with the same says to analyze whether or not a sportsbook platform is legit or not? Where you scammed by any sportsbook platform?
1791  Bitcoin / Bitcoin Discussion / Re: Blockchain Association - Thoughts over NY's mining ban on: June 07, 2022, 05:58:10 AM
This so called "mining ban" isn't a real mining ban. It's more like setting up double standards for the different kinds of businesses.
AFAIK, this is a regulation, that forbids the crypto miners to use electricity, that is produced via burning coal. The cryptocurrency miners in the state of New York are allowed to mine crypto, as long as the electricity they are using is "green". This isn't fair, because many industries aren't required by the law to use green energy. I'm "still waiting for the New York administration to say this to the "brick and mortar" businesses-"Use green energy or we will shut you down." Let's see what happens then. Protests all over the state. Unfortunately, the crypto miners cannot protect themselves from this unfair treatment. The only way for them to protest is to run away from NY and go somewhere else.
1792  Bitcoin / Press / Re: [2022-06-03] New York just passed a bill cracking down on bitcoin mining on: June 06, 2022, 11:37:07 AM

How would this affect the price of renewable sources of energy if the miners begin using them and increase the demand? The skeptical me thinks this is what the state of New York is trying to do. It will also relieve financial pressure from the government because is it not that these renewable energy companies are only profitable through subsidies from the government and maintain operations? I am not certain of this, however. But there was an article that Tesla receives government subsidies as one of their sources of revenue.

I don't believe that the crypto miners in New York are the biggest electricity consumer in the state. The green energy prices might increase a little bit, but there won't be a price shock.
AFAIK, the companies that produce green energy receive government subsidies and there's nothing wrong with that.
The crypto miners will be buying green energy at a lower price, because of the government support. The miners must be happy about this.
New York isn't the most important place in the world, when it comes to cryptocurrency mining, so we shouldn't pay that much attention to such news. Russia is way more important for the crypto miners.
1793  Economy / Economics / Re: Trouble in paradise for India? on: June 06, 2022, 11:06:17 AM
The inflation is India is 6-7% and you consider this bad?
The inflation in my country is 14% and my country is a member of the EU. Grin
I know that India is importing cheap Russian oil, but this cannot save the Indians from the global inflation. The trillions of dollars and euro, that were printed in the last decade are finally leading to big consumer inflation.

Hey Majestic-milf,

keep yourself a little bit up-to-date on what's happening around the world instead of reading an outdated article that was published in December 2021. We are in 2022 for your kind information, that is too June. So wake up!

Inflation has been a problem for the entire world. But two things have recently happened,

1. Russia agreed to sell oil to India at $35 discount per barrel.
2. OPEC Plus countries have decided to increase production from July and continue in August as well

These will drastically increase the oil supply in the world market and the price of the oil will come down to a great extent. Now along with interest rate hike and cheaper oil, the high inflation should come under control by the end of the 2022.



There will be an increase of the oil supply, but I wouldn't call it "drastic". The oil price won't be dropping at levels below 100 USD anytime soon. The fuel prices will stabilize, but that doesn't mean that the fuels will become cheap and affordable.
The Russians didn't  agree specifically to sell oil at discounted price to India, they are just selling it to whoever is buying.
My country is consuming lots of Russian oil, but the gasoline and diesel prices are high and they keep going up, despite the cheap Russian oil.
1794  Economy / Gambling discussion / Re: The UEFA Nations League 2020/2021 Discussion Thread on: June 06, 2022, 05:57:00 AM
Georgia defeating Bulgaria as a guest 2-5 was a surprise to me. I expected at least a draw. The national team of Bulgaria is a total mess.
Anyway, Portugal is the favorite of winning the Nations League, just like they did in the previous edition of this tournament, if I remember this correctly. Many results in this tournament will be quite surprising, because many managers are experimenting with the lineup of the national teams and many big players aren't motivated enough to give their best in this third-tier league. Maybe that's why Switzerland was destroyed by Portugal and Belgium suffered a humiliating defeat by the Netherlands.
1795  Bitcoin / Bitcoin Discussion / Re: US energy company opens mining facility in Middle East to use stranded natural.. on: June 06, 2022, 05:30:40 AM
I don't understand how using natural gas is eco-friendly, even if the way it will be used is better than other methods. Also, I would not be against this idea under normal circumstances, but not right now. Right now, Europe is paying lots of money to Russia because of heavily relying on its gas. This money sponsors a terrible war. So if there's some gas that can be used for mining, couldn't it be used for heating? Couldn't it help reduce Europe's dependence on Russian gas? If not, then it's fine, but if it could be, I think heating homes, so that people don't freeze to death, is the first priority, and crypto mining can use something other than gas.

1.Natural gas is more eco-friendly than oil.
2.What the hell are you talking about? Gas flaring has nothing to do with Europe, because Europe doesn't have big gas production. This technology can applied only in the countries, that are extracting lots of natural gas.

Quote
Oman’s government interest in the partnership is driven by an aim to cut the country’s gas flaring — burning off the excessive flammable gas in the process of extraction.

Heating homes in Oman seems like a weird idea, because the weather in Oman isn't that cold. Grin
Anyway, I don't mind this technology, but I don't know about the exact price of the energy, that is going to be produced by utilizing wasted gas.
Is it going to be cheap enough to make crypto mining profitable in Oman? Oman is a country with pretty high temperatures, wouldn't the crypto mining facilities require lots of cooling(which will eventually make the mining process expensive and ineffective)?
1796  Economy / Speculation / Re: It goes same way people never learn btc 30k on: June 05, 2022, 11:11:39 AM
The people are mostly conformists, they just follow, they don't lead.
When the bull market occurs, the people will start buying, because they are following the trend, they don't create it.
The day traders won't be buying BTC right now, because there's no indication that the price will do up, I think that most day traders are shorting BTC right now. The ones, that are buying right now are the hardcore Bitcoin HODLers (if they have some money in their savings accounts). We live in difficult times and not many HODLers will have enough money to buy more BTC and pump the price.
I don't see any big institutional investors buying BTC anytime soon. They will follow the trend, just like the day traders and the ordinary Bitcoiners.
1797  Economy / Economics / Re: LMAO: India resells Russian oil to the European Union. on: June 05, 2022, 10:46:07 AM
The European Union is governed by complete idiots. There's no doubt about that.
The so called "Green Deal" is BS. The policies regarding Middle East refugees were BS. The sanctions towards Russia are going to end up as a total BS. When the retarded bureaucrats of the EU are going to do something right?
India is too far away from Europe, I think that countries like Turkey might be buying more Russian oil, refining it and selling the gasoline and diesel to the EU countries(I don't remember if Turkey actually had oil refining facilities, though). The transport costs would be lower.

1798  Economy / Gambling discussion / Re: Is the UEFA Nations League a Glorified Friendlies? on: June 05, 2022, 06:25:34 AM
I think that De Bruyne is right and wrong at the same time.
The greedy bureaucrats at UEFA want the national teams to play more matches, because more matches means more money for UEFA.
The whole point of the UEFA Nations League is to give a chance for the weaker teams to win a spot at the European Cup.
The big teams will qualify for the Euro Cup anyway (via the Euro Cup qualifications), so this tournament is a chance for them to try out some young and unexperienced players. I don't understand people like Roberto Martinez, who is using his big stars like De Bruyne in the Naitons League, De Bruyine needs a break after a long season, Martinez could let some young players play.
The Nations League matches are important for the weak national teams, but not important for the big national teams, so De Bruyne is wrong about those games being friendlies.
1799  Bitcoin / Bitcoin Discussion / Re: How do you feel when the market is downtrend? on: June 05, 2022, 06:00:56 AM
I used to be frustrated every time the Bitcoin prices crashes, but know I'm just indifferent.
Stoicism teaches us to not get upset for things we have no control over. I have no control over the BTC price, so it's totally stupid to get angry or sad, when the bear market strikes. I'm sure that at least 90% of the Bitcoiners have faith in Bitcoin and they know that the Bitcoin price will hit another ATH sooner or later. The ones, who always start winning and complaining about the price crash are the ones that eventually will lose their money on Bitcoin/crypto.
1800  Economy / Economics / Re: COVID had widened the gap between world's richest and poorest on: June 03, 2022, 10:19:49 AM
I agree that the pharmaceutical industry benefited the most from the pandemic, but that was pretty much expected. What else did you expect? The people and the governments buying less drugs and vaccines in times of a global pandemic?
COVID isn't the main reason for the increasing inequality gap. The main reason are the fiscal and monetary policies of the big governments and central banks-quantitative easing, money printing, negative interest rates, tax loopholes, etc. The rich had access to an unlimited credit card, which pumped the prices of their assets, meanwhile avoiding tax payments legally is easier than ever( if you are rich and you have a good enough tax accountant). It's going to get worse in the upcoming years.
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