The miners get paid less and less as time goes on.
With the ledger also growing bigger and bigger, wouldn't the cost of mining start to exceed the profitability of mining? If no one would mine bitcoins anymore, wouldn't it shut the whole system down?
  Thanks to moore's law, performance of mining hardware improves over time. While power consumption decreases. The value of bitcoin also increases. These factors coupled together can translate to greater net dollar rewards, even if BTC rewards halve every 3 years. Everything miners are able to earn past their break even point is free money. Long term, electricity consumption and hash rate difficulty, become the main factors. |
|
|
|
I don't think those people are really poor.
Poor people in Venezuela, Cuba, Phillippines, etc doesn't have access to information and cannot really get to know bitcoin. The hydroelectric dam in caracas venezuela provided free electricity to residents, which many utilized to mine bitcoins. There are other cities and regions in the world with free electricity who invest in bitcoin mining. Electricity being free makes mining available even to the poor. This is an old trend dating back more than 5 years. Back to the era when GPUs could be still be utilized to mine BTC. Immigrants to the united states from cuba pay as much as 40% taxes and fees if they send money to their families in cuba using a bank wire transfer. It was common years ago for many to use bitcoin to avoid the 40% charge. I've heard of homeless americans using bitcoin. The only monthly charge they need to cover is their smartphone. |
|
|
|
People ask why they should buy and support bitcoin. One good reason. Bitcoin helps the poor.  #1 BTC provides banking services to the unbanked Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions. #2 BTC allows immigrants to send money to families back home Immigrants from cuba, the middle east and other nations who travel to the USA, europe or asia. Use BTC to send funds to their families back home. #3 BTC empowers nations with troubled economies like africa, the philippines and venezuela It provides a means of income to help stabilize dwindling economies like venezuela's. Provides options and opportunities to those in africa and the philippines. There are other examples but I think people might get the gist of this without them. Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method. |
|
|
|
I wish the best for Mahomes and would love to see him make a quick recovery. He's a talented athlete and one of the most exciting players to watch in NFL atm. On the flip side, his 2020/2021 season could be over. There are doctors who recommend no contact for 3 months after sustaining a concussion. Its been claimed having a concussion makes the brain more susceptible to sustaining further injury. There are boxers and MMA fighters who return to action too quickly after being KO'ed who are sometimes never the same. Not allowing the brain to heal properly can have significant long term effects. On the positive side there is hope of psilocybin triggering the growth of new brain cells to replace damaged ones. It could eventually become a de facto treatment for NFL players and combat sports athletes who suffer from conditions like CTE. |
|
|
|
This is what main problems
Most of usa population dont do much productivity. America's productivity and economy is disadvantaged in several ways. - Regulation attempts to cripple many US businesses on grounds of "anti trust"
- Prostitution legal in much of europe and asia is illegal in the USA
- Gambling legal in europe and asia is illegal in the USA
- Fantasy sports legal throughout the world, illegal in many US states
- Crypto ETFs, stablecoins, trading with leverage all illegal in the US
Etc, etc. Regulation and laws are significantly more restrictive and oppressive on american business in contrast to foreign business. In studies it was found that americans on average have less vacation time and fewer days off in comparison to workers in europe and other countries. Its been said productivity from the 1950s to the present has roughly doubled on average. Which is another interesting statistic to consider. |
|
|
|
|
Joe Biden's platform and policies are identical to his democrat base in states like california and new york. One might say, it is possible to predict the effect Biden's policies will have on business by looking at the net effect similar policies have had in those states. Elon Musk recently moved from california to texas. Citing the negative business atmosphere democrats have created there. If Biden follows the same democrat policies, we could see the same bad policies we've seen in california and new york. Only on a national scale, throughout the entire country. Which would be very bad for the USA.
What's bad for america, could be good for europe and asia. If the united states declines, it would create opportunities for other nations to expand their marketshare. And that could well be one intended effect of Biden assuming the Presidency.
|
|
|
|
I would prefer florida offer tax cuts or tax credits to bitcoin HODL'ers in the state. Rather than a direct investment. The united states is at risk of falling behind the rest of the world in bitcoin and crypto. Adopting measures to encourage mass adoption would be a better policy IMO. - Europe and asia have had bitcoin/crypto ETFs for years, the united states still does not despite years of proposals
- Europe and asia have access to crypto exchanges offering leverage on trading, USA still has none
- Europe and asia have access to stablecoins like tether, USA still has none
USA is becoming a joke as far as BTC goes. Although florida doing a direct investment might be great. |
|
|
|
|
If I had $100 billion. I think I would pursue creation of value in society. Try to advance science and technology further. Fund some of the lesser known & controversial figures in science who I think might make a difference. Donate funds to Space X, Virgin Galactic, etc to try to make manned missions to mars a reality. Donate funds and organize initiatives to stabilize climate change. Crowdfund projects to peaceably solve some common issues like poverty, overpopulation, etc. Basically things 12 year olds might think of if you asked them this question.
There is a high potential for advancement of industry in 2021. Many opportunities no one is working on.
Maybe if I had $100 billion dollars, it would change me. And I would become a different & worse person. The way that success and money change people. It wouldn't necessarily be all sunshine and rainbows I would guess.
|
|
|
|
Let's say i have 1000 USDC
Step 1 i deposit it ( gas fee is taken + approve fee i think )
Step 2 i set it as collateral ( gas fee is taken )
Step 3 now i want to borrow 700 DAI ( APY 12.82% ),i click on it
Step 4 approve ( gas fee is taken )
Step 5 Around 650 DAI is sent to my address ... 50 usd lost in fees
What's the catch ? I just lost money... How can you make money from taking this type of loan ? I think its only profitable as a business loan. I'll try to give an example of a common way someone might use this. - $650 DAI is used to purchase a lawn mower.
- Lawns are mowed on weekends at a cost of $35
- 2 lawns mowed per week, times 52 weeks in a year equals 104 mowings
- 104 mowings times $35 per lawn equals $3640
It can work as start up capital to start a business that earns more money. ... Here is another example which might be more relatable. - $650 DAI used to purchase a twitch capable gaming rig
- Stream on twitch a few days a week to try and make back the loan $$ with profit
|
|
|
|
What you refer to is that the history always repeats itself. Also depends on the time-frame, because as you correctly noted there can be cases where we can find something similar hundreds of years ago. However, while principles might be same or similar, the reality is different. If before for TA you would need to actually write down every single stock move and then draw the lines and make investment decision, now it happens in less than a second. If before to get the fair estimate of asset/company value you would need to physically go there and beg them to give financial statements to be able to even calculate net profit margin, now it takes less than a minute by googling for appropriate metric in most cases. If before to spread the narrative you would either need to stand on the street and shout or go to gossip with everyone around in the kingdom, or push hard the chief editor of newspaper to let him print your narrative story, now all it can take is just a few posts on unknown blog or few tweets, fulled with fake likes/retweets/comments. So as I said - principles are surely same - borrow, invest, interest, margin, etc., etc., but the conditions / environment is entirely different.
Yes. I think its fair to say that while technology and methods have changed. The game remains the same.  The rock based currency above could be considered a proof of work (PoW) precursor to bitcoin. (As many have noted over the years.) A text book might say proof of work was invented by Satoshi Nakamoto in 2009. But the general idea itself could be hundreds if not thousands of years old. Utilized by many cultures throughout history. Yes, there is very little new in our world. Everything we see happened in the past. I love reading old classic novels.
I find many interesting and instructive things in them. For example, I like reading the novel The Count of Monte Cristo by Alexandre Dumas. It is essentially a finance textbook. The main character (sailor Edmond Dantes) dug up an ancient treasure (mined bitcoins). Accordingly, he had a problem with how to cash out the mined treasure (exchange bitcoins for fiat currency). Edmond Dantes successfully coped with this task. He also took revenge on his enemy (banker Danglar) by manipulating the stock exchange. As a result, Danglars' exchange positions were liquidated, and he himself was ruined.
Reading about all this is very exciting.
Exactly. The story of Edmond Dantas withdrawing his significant assets to destroy a fractional reserve bank in vengeance, holds true even today. Which is why we see many banks limiting amounts on withdrawals. |
|
|
|
|
California and new york residents are leaving their states in droves. Real estate and rent prices are falling from decreased demand. Its becoming a buyer's market. The only real question is whether the trend will be short term and temporary or long term and sustained.
It all comes down to politics, regulation and leadership. Will states like california and new york continue to hike taxes, kill jobs and wreck business causing residents to flee to other states. Or will they reverse the trend and offer more competitive terms in contrast to other states.
Elon Musk and Tesla leaving california for texas is only the tip of the iceberg for larger trends.
|
|
|
|
|
Elon Musk recently opened up and admitted he tried to sell tesla to apple in the darkest days when it seemed as if he would never get tesla running. The CEO of apple refused to take a meeting to discuss the sale.
It would seem Elon went through some adversity to make tesla a success and felt insulted when Michael Saylor proposed denominating tesla stock in bitcoin. That feeling when you put blood, sweat and tears into something. Then some random says something which seems to trivialize the sacrifices made. That would seem to be the only reason Musk said anything negative about bitcoin in the 1st place.
Elon Musk has always been an advocate of bitcoin and crypto since day 1 and never really wavered in that.
|
|
|
|
|
I don't think there is anything truly new or old when it comes to money and investment.
A person could open a bible and see money changers in jewish temples using the same narrative based marketing strategies investors use today. The same with Hayek vs Keynes potentially being an illusion of choice narrative. Trickle down economics, modern monetary theory, austerity and other things. There have always been commonly accepted myths and legends built around financial institutions. In an effort to push manufactured consensus that serve underlying agendas of various types.
If anyone's seen the movie Rocky 5. The families financial advisor is given power of attorney. He invests Rocky's money in a risky venture expecting to turn a profit for himself and return the funds before anyone notices. Gambling with the money of creditors this way dates back centuries. There's a legend about the Rothschilds using this to multiply their wealth in the 1700s - 1800s(? If I'm remembering correctly ?). I think the same could be said about virtually any theme relating to investment and money. There are past examples dating back through history. They're all old things, rather than new.
|
|
|
|
Fiat currencies were gold backed in past eras. Cash could be exchanged for gold. Fiat printers held enough gold in reserves to match the paper money they printed. Today the united states holds tons of gold reserves in Fort Knox in an effort to back fiat. The USA also holds oil and other reserves which back the currency they issue in an emergency. The degree to which the US dollar is backed by gold, oil and other holdings however is not significant a percentage. Stablecoins like tether are more firmly backed by US dollars, than the overwhelming majority of fiat currencies. Which opens the door to stablecoins being safer and better investment instruments for long term HODL in contrast to fiat reserve currencies like the US dollar. Some banks choosing to hold stablecoins as collateral assets, they way they would traditionally hold gold or precious metals could speak volumes as to their potential worth. It all depends on ones views of financial engineering etc. |
|
|
|
On December 8th 2020, someone deposited 28.15 Bitcoins, into 22 different cryptocurrency wallets – almost all of which belonged to well-known right-wing figures and organizations. Nick Fuentes received $400,000+ in BTC in one of those donation drops. I followed Nick Fuentes on social media since 2015/2016. Back when he only had a few thousand followers, before he became famous. He started out as a right winger who supported Donald Trump. Couldn't make money. Complained about not being able to afford things. There was a conspiracy where Kassy Dillon the founder of Lone Conservative tried to record him saying offensive things with a hidden microphone. He used to be targeted, criticized and attacked the way Donald Trump is when he was a real right winger. He changed. I don't know if he can be called a right winger anymore. He's not the same guy he used to be. It seems that he joined forces with everything he used to oppose. They call him a "right winger" but he's spent more time and energy promoting democrats like Andrew Yang than he has anyone else. |
|
|
|
No matter how the currency market goes up or down, we always have a dim idea in our mind. Maybe, it is the idea that supports us. Now, it is time to clarify the idea and share it with the public.
The most powerful price movements rally around a perfect storm of conditions aligning in unity. " Searching for the perfect storm." Predicting a hurricane when the skies are still sunny and there seems no chance of rain. Being able to spot those massive price movements, when no one else can, is one method of profitability. But there are many others. Market oversaturation's potential for depleting market returns, can lead investors to searching out ignored/neglected regions of investment. These are two areas I like which aren't much covered so much by investment mottos. As much as the game changes, it also remains the same. Many traditional and historic investment mottos apply to crypto today.  - Assets trend towards overvalued when investors are greedy
- Assets trend towards undervalued when investors are fearful
The same applies even to crypto today.  |
|
|
|
I just want to ask what are your thoughts on having a large capital in gambling?
Does the capital matter in gambling? Is there any advantage if you have a large capital?
Since for me, it is always the same even large or less capital. Having large capital will only help you to stay longer on the table unless your bet size is huge too.
Turning $20 into $200. Is identical to turning $20,000 into $200,000. Both are 10 times gain on a percentage basis. Its better for new gamblers to wager small sums and focus on consistency and percentage gain. Its the best method to gauge how successful/unsuccessful they would be wagering larger sums. There's more pressure wagering larger sums of money. Which can lead to less rational choices. Having to spend lots of money to make lots of money, isn't an approach that should be tried in gambling. The difficulty level in sports betting has increased dramatically since 2018. After wallstreet investors bought out sportsbooks like william hill and their influence began to be felt throughout the industry. |
|
|
|
My conspiracy theory is that Covid-19 comes from a virus jointly engineered and unleashed by the Western and Chinese elites. For the sliver minority interested in discussing this uncomfortable topic, which most would prefer to forget. The epoch times published the best documentary on the subject I know of. https://www.youtube.com/watch?v=XMJ0EmMfb3UThere are possibilities aside from a great reset. A shift in global power from america and the west, to china and the east, is another explanation.  Infection and mortality rates would appear to economically favor china over the united states. There could also be 2020 US election implications where lockdowns and quarantines had an influence. |
|
|
|
http://www.shadowstats.com/Shadow stats. One of the de facto alt metric sites over the last few decades. Some of their news releases and info dumps were good enough info to be covered by mainstream news 2000 - 2021.
|
|
|
|
|
Show Posts
