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2241  Economy / Economics / Re: Rich have too much on: February 04, 2021, 11:13:51 AM
I can't say that im not agree but those rich people they work hard to earn what they deserve the life of being rich If this law is create then in the world of full of B.S it will be unbalance people will become lazy and there's no reason for them to work anymore they just asking for full support for something and waiting for them just to get their money. Economy will means nothing but a bunch of people who are wasting there days to come by and waiting for their death to comes. And this doesn't solve the problem the world encountering right now.

Not all of the rich people have worked hard for their wealth, as a majority have inherited it. Take the case of Donald Trump for example. His father provided him with a large capital to start and he managed to multiply that capital by several times. That doesn't mean that he is the best businessman out there. There may be millions of others who are more talented. But they don't have the same chance of creating wealth, because they don't have access to the same amount of capital to start with.

But despite all this, I am against seizing wealth from the rich and distributing it to the poor. If the poor want to improve their lives, then they need to work hard. Get good education and gain knowledge and skills. Never think that it is the responsibility of someone else to make your lives better.
2242  Economy / Gambling discussion / Re: ODI cricket and general cricketing discussion [self - mod] on: February 04, 2021, 10:45:33 AM
I agree with you too. Many local players will not get salary if Ranji Trophy is not held. But the BCCI does not seem to be concerned about these issues. They will look at their own earning side first and then think about the local players. Wait and see what BCCI will decide about these domestic players.

Since the contract system is not there, it will be difficult to distribute the compensation even if the BCCI decides to offer some relief for the players. For the past few years, there were ongoing talks regarding domestic contracts. But as far as I know, none of the teams have implemented it so far. Even before the pandemic, the domestic player salaries in India were really low, when compared to Australia or England (or for that matter even when compared to New Zealand or South Africa). And now the situation has become much worse.
2243  Economy / Gambling discussion / Re: Indian Super League (ISL) Football match updates, predictions and discussions on: February 04, 2021, 10:34:48 AM
Hyderabad's match strategy are really great. They do not have enough talented and skilled players in their team. Even then they are now in third place in the points table. They may be in the top 4 by the end of the season.

They may not be having too many super-stars, but they have a number of young and promising players. Chinglensana Singh is one of the best defenders in India right now. Other promising players include Laldanmawia Ralte, Halicharan Narzary, Nikhil Poojari and Asish Rai. On top of this, their foreign contingent is also of topmost quality (Lluís Sastre, João Victor, Aridane Santana, Francisco Sandaza.etc). Unfortunately, I never made a bet in favor of them this season. It could have been much rewarding to do so.
2244  Economy / Gambling discussion / Re: T20 and T20I cricket prediction and discussion on: February 04, 2021, 06:25:48 AM
You already answered your query in your own reply.

Their majority of target audience are from the Subcontinent hence the names Maratha, Bangla, Qalandars etc

I still don't understand why the BCCI has a complete ban on Indian players participating in foreign leagues. They should at least allow those who doesn't have an IPL contract. There are promising players out there, such as Ashok Menaria, Manimaran Siddharth and Baba Aparajith, who never get a chance to play in the IPL. If they are allowed to participate in leagues such as the Abu Dhabi T10, then it will be a big boost for their career.
2245  Alternate cryptocurrencies / Altcoin Discussion / Re: Why are people still buying XRP? on: February 04, 2021, 06:07:39 AM
XRP is one of the most manipulated cryptocurrencies out there in the market. A dozen or so of the large holders own around 80% of all the XRP in circulation and therefore it is relatively easy to manipulate the exchange rates. On top of that, several users now regard XRP as underpriced, as a result of the crash which followed the SEC announcement. But the long term prospects look doubtful for me, with issues related to SEC not moving in the right direction.
2246  Bitcoin / Bitcoin Discussion / Re: India makes ownership of Bitcoin criminal offense - How to respond? on: February 03, 2021, 01:50:22 PM
This is freaking ridiculous. I am sure that there will be riots later on if this bill has officially passed and come to fruition. I am also feeling that Indians may have to relocate themselves to another country by applying a working visa or even change citizenship.

If I were born as Indian and currently staying there, I would panic and plan ahead to move to another country where it’s crypto-friendly and will apply for a change of citizenship permanently.

It is ridiculous. But the situation is not as favorable as that in the developed nations. The cryptocurrency market in India is quite large, with somewhere around 5 million to 10 million active users. But when compared to the overall population (1.4 billion), this would look like minuscule. 90% of the population doesn't have enough education to understand what is cryptocurrency and the technology behind it. If the government claim that cryptocurrency is being used for illegal purposes, then these people will support the government's stand. So forget about the users rioting, or even protesting against the move.

A better option is to travel to some other country, so that you can trade with your cryptocurrency holdings. But I guess stompix has already explained the impracticality of any such move in one of his posts within this thread.
2247  Economy / Gambling discussion / Re: T20 and T20I cricket prediction and discussion on: February 03, 2021, 01:20:42 PM
You need to give them the freedom to play anything and do not enforce these to the international levels and that is my opinion, when i was playing for local clubs 15 years ago, the initial rounds we had 10 over matches and in the semi finals and in the finals the matches goes to 15 overs and in some tournaments it was 20 overs and it was rarely i played 20 overs and that is the case when i played for university level as well.

Yeah.. during my college days, I also participated in 10-overs cricket. Back then, the lunch break was 1 hour, and we needed to finish the match within that time. So each of the teams were given 25 minutes or so to bowl 10 overs. But the catch was that the teams comprised of only 5-6 players and it was played on a smaller outfield. But the formal tournaments between various batches were in the 20-over format (that was even before the T20 cricket was invented, as I am talking about 2001-02 period). These matches were played on regular grounds, with 11-player setup.
2248  Economy / Gambling discussion / Re: Toronto women win jackpot lottery on: February 03, 2021, 12:23:51 PM
I prefer to buy some gifts for people closest to me, but I will never tell them that I hit the jackpot and win big money.
I prefer to go to my bank and save all of the money in my bank account, and I only get some small amount for my daily life.
You sit on a cryptocurrency forum and dream of putting all your money in a bank account? WTF? What about buying Bitcoin for at least part of the funds or some other cryptocurrency?

Typical noob mentality. Right now they are open to investment in cryptocurrency, because they want to become rich. At this point, the thinking is like they don't have anything to lose, so why don't take some additional risk. However, once they become rich, the mentality changes. The preference is to hold onto the wealth, rather than to increase it. And this is applicable to 90% of the people. If they become rich, their investment pattern will change. Most of the money will be diverted to low risk investments, such as bank deposits, bullion and treasury bonds.
2249  Bitcoin / Bitcoin Discussion / Re: India makes ownership of Bitcoin criminal offense - How to respond? on: February 03, 2021, 12:11:23 PM
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Hoping that the voting changes from EVM to the old ballot papers so that they do not tamper with the elections. If not how could they be in power even with all the blunders which includes selling of almost all PSU and we will see more sales by the government in the second phase of the budget.   

It is ridiculous to blame the EVM for the success of the right-wing. I am a regular visitor to India and I saw before my own eyes how the political scenario changed there. The UPA government of 2004-14 engaged in naked minority appeasement, which caused a polarization of the Hindu votes towards the BJP. The opposition needs to understand that if they want to win elections, then they need to prevent religious polarization. Because if polarization occurs, then it becomes 75% Hindus vs 25% non-Hindus.

And from what I have found, there is widespread support for the CAA and the farm laws. Opinion polls conducted by various news agencies also confirms the same. Once again, the opposition parties made the mistake of giving this a religious color. The media houses (many of which are supportive of the ruling party) seized the advantage and did the rest. They made CAA a Hindu vs Muslim issue. And similarly, the farm law protest is being painted as a Hindu vs Sikh issue.

2250  Bitcoin / Bitcoin Discussion / Re: Elon Musk adds #Bitcoin to his Twitter bio on: February 03, 2021, 10:32:05 AM
When a person like Elon Musk tweeted and showed support for Bitcoin and claimed himself as the supporter of Bitcoin, it has put a positive impact on the market i the last two days which isn't surprise at all from the perspective of the present situation. Here Elon Musk may have a financial intention but already showed a positive impact.

If a single tweet from a personality like Elon Musk can cause a 10% spike in the Bitcoin exchange rates, then we should also remember that the opposite case can be true as well. Tomorrow some of the other multi-billionaires (such as Zuckerberg or Gates) can tweet that the government should destroy the cryptocurrency ecosystem and the markets can crash by 10% or more than that in a matter of hours.  In the end, the truth is that Bitcoin remains a highly volatile asset which can go up or down by a large amount as a result of a single tweet.
2251  Bitcoin / Bitcoin Discussion / Re: India makes ownership of Bitcoin criminal offense - How to respond? on: February 03, 2021, 07:56:34 AM
i get that they can shut down exchanges that take fiat but how exactly do you ban ownership of something intangible, like are they going to come to your house and scan your computer for the keys or invent a metal detector that detects ledger and trezor or something

I guess they are primarily concerned with two aspects - conversion of cryptocurrency to fiat (and vice versa) and the purchase of various items from online marketplaces using cryptocurrency. Your point is very valid. It is very difficult to prove the ownership of a cryptocurrency wallet, even if it is having links to a KYC-enabled exchange. Unlike the case with bank/demat accounts, there is nothing that links a particular individual to a certain cryptocurrency wallet address.

But then you need to understand that the education level of ministers in the current Indian cabinet is not that great. Many of them have no idea about cryptocurrency and are mostly dependent on the bureaucrats for all this information. The bureaucrats are also not much better. Only when they implement the law, they are going to find out that it is such a blunder.
2252  Economy / Gambling discussion / Re: T20 and T20I cricket prediction and discussion on: February 03, 2021, 07:43:36 AM
Apart from windies none of the players you mentioned are considered premier players even in their respective countries T-20 squad or national team. Jordan is okay but he's loosing his spot even in English team. Banton is new fish so hardly a premier asset atm.  Tahir and Hafeez are about to retire soon although i consider them heavy weight but they can't attract crowd anymore and don't know how much eyeballs can Stirling pull off by his own.

Players such as Pollard, Russell and Gayle are crowd pullers and I need to appreciate the efforts of the Abu Dhabi Cricket Council for organizing such a tournament. They have also given chance to players from smaller nations such as USA, Nepal and Ireland. You can't expect Australian or Indian players in tournaments such as this one, for obvious reasons. Australians are worried about their fitness levels and they will restrict their participation to two leagues at the most in a calendar year (BBL/IPL). Indian players are not allowed to participate in any league apart from the IPL.
2253  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: What is happening about WallStreetBets? on: February 03, 2021, 07:05:49 AM
please check again on coinmarketcap.com that it is very clear that it is just a joke...
I'm just wondering how long that joke token has been on coinmarketcap.  Roll Eyes

LOL.. they really got everyone off-guard. I take back my words.. and to date I don't have any evidence to claim that Binance is using Coinmarketcap for manipulation of the cryptocurrency market. But at the same time, I have to say that CMC is having a huge influence in the market. A lot of investors use their data for decision making and previously some of the lesser known projects used to manipulate their trade volumes so that they could get listed in CMC (now they have changed the criteria for listing and such manipulation no longer takes place).
2254  Bitcoin / Press / Re: [2021-01-20] Janet Yellen suggests 'curtailing' cryptocurrencies such as Bitcoin on: February 03, 2021, 06:28:56 AM
Finally I see something I can absolutely agree with. The fact that Tether is taking 70% of trading volume doesn't add the value to USDT. Tether's "value" is solely based on the trust of people using it that those billions of USDT are backed by billions of real USD, and the most important fact in this story is that Tether’s reserves have never been fully audited by an independent 3rd party.

Imo, it can collapse any moment, and if that happened, crypto market would quickly adjust to a new reality: people who love stable coins so much, would switch to other stable coins, and the smartest would switch back to good old Bitcoin pairs.

Tether can collapse at any moment. But for that to happen, two factors need to overlap. From what I have heard, Tether foundation is using a lot of their reserve funds to invest in Bitcoin and other cryptocurrencies. The first factor would be triggered, if their assets return a loss for them. IMO, that is not going to happen anytime soon as the bull run is not yet finished. The second factor is related to the demand-supply equilibrium. Right now they are able to maintain the market cap at around $27 billion, because there is huge demand out there in the market. But if there is a market crash or legal action targeting USDT, then users will attempt to redeem USDT for USD. Under such circumstances, the foundation will find itself cash strapped.
2255  Bitcoin / Bitcoin Discussion / Re: High possibility major governments will BAN Bitcoin in the near future on: February 03, 2021, 06:18:13 AM
The governments must just accept the natural evolution of Crypto currencies, if they start "banning" Crypto currencies. The first thing that will happen after a ban, would be the "new" revolution of Crypto currencies. The developers will be motivated to create more decentralized market places and exchanges and this whole experiment will go underground.

What will the impact be of this "revolution" for these governments? Answer : All those transactions will not be taxed and a whole new secondary economy will be created that are free from government control and manipulation.  Wink

So what do you think? The government guys will just sit back and watch this, while their revenue intake dips? The governments need tax revenue to survive and if they think that cryptocurrency is being used for tax evasion, they will come down really hard. The idea of "decentralized marketplace" is good in theory. But it needs to be seen whether it can be implemented in real or not. For my part, I am not in favor of avoiding taxes by using cryptocurrency. Let's pay the tax that is due and use cryptocurrency at the same time. 
2256  Bitcoin / Bitcoin Discussion / Re: Why was Musk so late to the party? / or Publically support BTC on: February 02, 2021, 04:30:21 PM
Better late than never. How many of the top 10 most wealthy people has openly come in support of Bitcoin or any other cryptocurrency? I think Elon Musk is the only one. A few, such as Warren Buffet on the other hand has shown open hostility towards BTC. It has something to do with the age as well. Those who are in 90 plus age group (such as Buffet) are having difficulty in accepting new technology. But those who are in the younger age bracket such as Musk and Zuckerberg are more open towards new innovations.
2257  Bitcoin / Bitcoin Discussion / Re: India makes ownership of Bitcoin criminal offense - How to respond? on: February 02, 2021, 01:46:49 PM
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And yet I'm willing to bet that IF this law is passed once if you hear a knock at the door at night while not expecting any visits you will piss your pants in seconds. It will take just a  few convictions with some harsh punishments and 99% will quit. I've lived in a real dictatorship, you have no idea how effective fear is.

100% agreed. I have been to India multiple times, and I can tell you that the Indian prisons are not for the light-hearted. Even if there is only a 0.0001% chance of getting caught, the vast majority of the users are going to dump their holdings. Those users who are residing in the EU and the US can post whatever they want, about disregarding the law. They fail to understand the ground reality in India.
2258  Economy / Gambling discussion / Re: 💰 Summer Tokyo 2020 💰 Discussion and bet thread 💰 Summer Game 💰 Postponed 21 on: February 02, 2021, 01:29:34 PM
Just a few minutes back, there was a statement from Yoshiro Mori (the head of the 2021 Tokyo Olympics organizing committee). In a speech to the parliament, Mori made it clear that the Olympics would be held irrespective of the status of the COVID 19 pandemic in Japan. Thomas Bach (head of the International Olympic Committee) had made a similar statement a few days back.

So right now, I would say that there is a 95% chance of the games going ahead as per the updated schedule. However, many of the participating countries are likely to skip the event, or may send a smaller contingent due to the pandemic.

https://www.news18.com/news/sports/tokyo-olympic-organizers-reiterate-we-will-hold-the-games-3380432.html
2259  Other / Politics & Society / Re: Elon Musk's Space X investigated for alleged hiring discrimination on: February 02, 2021, 01:09:53 PM
Seriously, is this even news? If a corporation gives preference to employees in the country where it is based in, the governments should be happy about it. This is some sort of standard procedure that is being followed everywhere. In the EU, the corporations can hire someone from outside the EU only if they can prove that there are no qualified individuals within the EU member states. Anyway, I was expecting this sort of lunacy ever since Biden was elected as the POTUS.
2260  Bitcoin / Bitcoin Discussion / Re: India makes ownership of Bitcoin criminal offense - How to respond? on: February 02, 2021, 12:59:21 PM
The idea of criminalizing holding any sort of cryptocurrencies was the mad brainchild of Subhash Garg when he came up with that first draft. I don't think they will go to this extent.
Unfortunately, everything at present is being decided by a regressive government aided by a media truly gone mad. They are always fanning the flames of chauvinism because the thing that gets the most TRP in today's India is a fake display of nationality and making everything about it.

Farmers protest become secessionist movements; A murder becomes a case of snatching civilization from Bollywood; An investigation into a manipulative journalist becomes "foreign powers" trying to suppress Indians through Congress.

If this becomes political, Bitcoiners WILL lose. So while you concern is legitimate and we all need to rally, I would advice against making this about elections or anything political.

The best option is to follow the route of law and basic human right to choose. The Supreme Court has enough knowledge to judge this. As Civil society, we have to support the nascent industry and make it about financial freedom. Making it about Modi's politics or crony capitalism of the ruling party will only lead to a quick suppression using media sensationalization.

I am not sure whether the Supreme Court will offer any relief for the Bitcoiners. From what I understand, the duty of the supreme court is to implement the existing laws. At the most, they can check the constitutional validity of the new laws that are being passed by the parliament. In case the parliament passes this "Bill" and makes it an "Act", then the only instance where Supreme Court will turn it down is if it finds the law "unconstitutional". Under current circumstances, there is only a remote chance of something like that happening. So I agree with the political move. The best response would be to organize Bitcoiners and make sure that the ruling party is defeated in the elections.
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