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There are more than kne Gold backed projects. Which one you are referring to?
Also, if you want to have exposure on Gold, you can straight away buy paper gold. I am not sure which country you belong from, but in my country, I can purchase paper gold and in fraction. Once my gold purchase reaches 1 gram, I can get a physical coin delivered at my address.
Look for similar supplier from your country it's so far the best way to have direct exposure in Gold, without going through the crypto route.
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I don't think a lawsuit will help Kraken in any way here! CFTC has imposed this fine because Kraken started offering futures products without registering themselves under the appropriate legal classification. So no matter what Kraken does, it seems highly impossible for them to win over CFTC as they have a quite valid ground. If they go to court, most likely court will reject their plea and the lawsuit might not take off the ground. |
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It's great news for Connecticut, it's just the whole American system is baffling to me - 50 states all working at different paces to create and repeal different laws seems like an incredibly wasteful exercise. I guess it's a way for politicians to keep getting work for themselves. I guess all of these states are seeing the large amounts of revenues that the Indian reservations make, they know people are gambling anyway so might as well bring in that tasty cashflow to the state in the form of taxes. It's even crazier that they did not even allow lotteries to run there, as they could be considered the laziest and least intrusive form of gambling, however if they are properly run can be a great boost for the coffers.
That's called federal structure and it is one of the most successful method of running an incredibly large country like US. The similar structure is followed in India as well which allows different states to formulate their own law based on the local need. I believe what Connecticut has done is to increase their revenue to run the state and to maintain their infrastructure. Every state has their own unique population and unique needs to address. The legislators of Connecticut thought that gambling might be a good thing to introduce to fill their coffers so here it is! |
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Live football bet has been popular among gamblers and it’s popularly known as visual games this method of betting is like playing dice as it is all about the number predictions but again there are some peculiarities between both gambling games, one involves high risk and the other is based on luck. Between playing dice and football, visual prediction, which will you prefer as a passive gambler.
Visual games are always preferred when money making is concerned. And that is not limited to only football. It can be either football, cricket, tennis, Hockey, rugby etc. But it needs a great level of understanding on the game you are betting on. So this is a preferred method for many. On the other hand, I consider dice games as an entertainment method. If you want to spend some leisure time, that's the gambling method to go for. Since both of these gambling methods have their own fan following and purposes, it's difficult to compare. |
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Due to today's media, we don't really get to understand what statement someone ihas actually made. Today evening, I was reading through my dailyhunt app and seen this news. It seems the newspaper I read, has depicted the story in a different way.
The minister has never given a positive indication. He has only said that government should first know about it before thinking of banning it. Otherwise they may loose an opportunity to stand as per the market. That's a noble statement, no doubt about it! But not sure what's exactly gonna happen. The Bank of Bangladesh has already imposed a banking ban few years back which is still in force.
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They're big but how come we don't hear of them? Anyways, I didn't know that there are countries out there that has online gambling as an illegal gambling activity, what could be the reason for that though? They have a small population though so I don't know how big of an impact they will bring when it comes to the online gambling community.
You didn't hear about them because they are fiat based gambling houses. They don't yet allow cryptocurrency gambling on their platform yet. But they are indeed big names in the sport gambling market. Second thing, Netherlands is a small country but that doesn't mean they are poor. Netherlands is the world's 13th largest economy with GDP nearing 1 trillion dollars. So they are rich like hell. For any company with sales in European region, Netherlands is a preferred destination. |
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The situation you have described, is true! In countries where bitcoin js classified as a financial asset, it creates a problem for using bitcoin as a currency for regular purchases. But that's what most of the governments want! Since they have understood that they can't control bitcoin, they are trying curb its usage in a different way! Declaring bitcoin as a financial asset is one of such ways.
But we can't really expect a lot of friendlyness from the government itself. Because most governments truly sees bitcoin as a challenge rather than an opportunity. We can't expect another country to follow the same path as El-Salvador.
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A recent article reported that China's outlawing of crypto transactions backfires: more Chinese are turning to underground projects and decentralized exchanges without the CCP's control. Do you see global implications for the crypto market?
Chinese people have always been active in the underground activities. Even though their government always tries their best to keep them at bay and pull out the unethical tasks by themselves (lots of example). Lol!! But seriously any kind of unethical online activities- you will find Chinese involvement in most of the times! So with the current Chinese ban on cryptos, I don't see a lot of impact. I would rather say that it is good for the matket if Chinese people completely move out from the crypto market. Whatever the impact we are seeing, is temporary and we must not worry at all! |
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Blockchain is real while metaverse is an imaginary world. There's no comparison between these two. What's the use of buying a property which you can't use in real life? What's the use of an jpg image which you can't touch? This metaverse concept is invented for fooling people to churn out money.
Mark my words, this entire metaverse and NFT thing is bound to fail. These are just hypes in the market and nothing else! Don't fall for such traps!
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We have transactions fees, to avoid creating tons of transactions and increase the blockchain size to a extreme amount.
Those transactions fees are sent to the next user who is the miner.
How would the economy of a coin would change if instead of sending the transaction fee to be mined, the transaction fee was frozen and 1 year after it it would be sent back to the wallet. The user wont lose that money, but still can't keep making tons and tons of transactions to spam the blockchain.
I am referring to any coin in existence here and not just bitcoin. Majority of cryptos have finite supply. So your proposition can work for a finite period of time only. But once all coins are mined, who will keep the network running without a reward? It wouldn't make sense to any of the miners to keep running their nodes with zero rewards. So even if small, but still some percentage of transaction fees needs to go to the miners to keep network running for longer time. No one really like to provide free service! |
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I have short and simple reasoning here.
Bitcoin ETF is not explicitly needed as bitcoin is built with a vision of removing intermediaries. People can buy bitcoin directly from an exchange or via p2p trade. However, there are a class of people who doesn't like to take the hassles of storing or transacting in bitcoin, yet want to have investment exposure. ETF is ideal for that class of people.
Now the second consideration is that if a bitcoin ETF is not backed by physical bitcoins, then it literally makes no sense because the money is invested into ETFs, are not coming to the bitcoin market. So generally we don't need bitcoin ETFs to be honest.
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Geo thermal energy it is! But anyway if El-Salvador starts bitcoin mining operations, that will go a long way for the network. First ever government investment into bitcoin mining will make the network more centralized and if other governments of the small cointried adopt to the Similar approach, the individual miners will simply have to shut down their operations. Not a good news if we think from a long term perspective as it is not really ideal ti have government miners into the network no matter how friendly they are with bitcoin. I hope this just doesn't become a trend. |
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Today Bitfinex Exchange transferred 100000 Usdt from one of their main wallets and for this transection Bitfinex spent 23.7 million $ ( 7,676.619078292762408538 Ether). Here is the Transection ID : https://etherscan.io/tx/0x2c9931793876db33b1a9aad123ad4921dfb9cd5e59dbb78ce78f277759587115Still now This is the largest Ethereum Transection Fees ever paid in dollar terms. And The second highest Ethereum Transection fees paid in June 2020 worth of $5.2 million. Lol! If an employee has done this transaction, he/she is in deep trouble! For a value trans6of 1 hundred thousand dollars, the fees is 23.7 million! What a joke! Vitalik must step in and apologize to the public for creating such a nuisance in the name of a cryptocurrency. Binance has sniffed this issue quite earlier and successfully running their own protocol to come out of such issues! Seriously ETH needs an overhaul sooner than later! Not sure if the movement from pow to pos would end this issue once and for all! |
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Jack Dorsey was always very supportive about bitcoin and he has voiced his support for bitcoin multiple times. So I am happy that he is implementing his vision to make them a reality big way. It will support the influence marketing community in a big way really! But the kind of tipping culture exists in US, I don't think any other country follows the same pattern. So this practice may not become successful in other countries except US. But nonetheless, it's a huge news when a giant like Twitter officially support bitcoin. Net positive for the market. |
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When BTC price drops due to sell off, People panic and say a lot of bad things. But what i think is miners need money probably to improve thier mining facilities. I never expect bitcoin miners to buy btc. All they should do is sell and probably upgrade mining facilities.
Also, with lesser miners, transaction hash rate will be low so sell off from them will always bring a positive result to the bitcoin network.
So, if miners sell, its mostly favorable because it gives people more opportunity to buy at discount prices, also gives miners more fund to upgrade thier mining facilities and helps the bitcoin network function more better.
So, Miners are the bears and they are Good for the Bitcoin Network.
Let's assume you own a factory and you produce a great product with a lot if demand in the market. Would you like to sell off your product at lesser value than the market price? Wouldn't you use the demand as a use case to increase your price so that you can inveat in better automation to further reduce your production cost thus increasing your profit margin? You got it all wrong. Miners are not the ones behind the pumo and dump game. Also you are referring to the discounted price which may not be a reality unless you have fee million worth of trade volume. |
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Another wise business decision to stay ahead of the curve! No offense but Coinbase is proposing a very risky business. Due to the volatility of crypto prices, it is indeed a very risky proposition to keep a part of your salary in cryptos. Possibly it will go well for the millenials who don't have much liabilities nad can take riaks. But not for someone who has liabilities. But anyway, it's the choice of the consumers and business of coinbase. Nothing is unfair! |
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One more campaign about Bet Responsibly launch by Entain and Rush Street Interactive (RSI) has partnered with the American Gaming Association’s (AGA). That campaign is trying to educating sports fans and the core principles of responsible gambling. We know that many gamblers become addicted to gambling, so hopefully, this program can help them resolve their problem to be more responsible in gambling.
A good initiative most certainly. It happens a lot of time when the gamblers don't understand their addiction when it becomes a part of their lifestyle. Providing information and psychological help certainly helps the gamblers beat the blues and come back to normal life. Most importantly the mental support is needed for the gamblers to come out of their addiction. Hopefully this association between RSI and AGA will do their part with integrity and help a lot of addicted gamblers to come back to normal life. |
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It seems, in the USA, the interest in using crypto as a legal payment already increases as a poll already surveyed voters from California, Florida, Georgia, North Carolina, Ohio, Pennsylvania and Virginia. That poll got a result of 28 percent in Arizona to 37 percent in both Texas and Wisconsin, voters said they would vote 'yes' to a ballot measure that would make cryptocurrency legal in the next election. That's quite a higher percentage to see if the voters are already aware of crypto and are interested in using crypto for the payment. What is your opinion about this? Does this lead the USA, as a giant country, to become crypto-friendly in the next year? Source: https://www.newsweek.com/exclusive-about-third-swing-state-voters-want-crypto-legal-payment-their-state-1630387US will do its best not to adopt cryptocurrency as a legal method of payment. No matter what their voters think, I don't see this happening because of a simple reason - the dollar dominance! US will never take any such step which will reduce the importance of dollar bills within their own jurisdiction. They might provide some relief and possibly allow merchants to legally accept cryptos but they wouldn't allow crypto payments into anything related to government. If this happens, I will be shocked! There are smaller countries who have already started process to reduce their dependency on US dollars. So bitcoin is officially challenging the dollar dominance already. |
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I quite like the way op has highlighted the need to decentralized exchanges over the centralized ones. The recent incidents in China shows the necessity of having decentralized businesses around crypto ecosystem. China was always against the use of virtual currencies and they were the first country to ban ICOs. So the market shouldn't have receive this massive shock we have experienced last week. But it's good that the market is now back on track and growth at a good pace. This incident will definitely push the decentralization to the next level and people have started realizing its need.
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For international exchanges without a footprint in China, it's most unlikely to happen. They wouldn't definitely want to losse customers. Houbi was founded in China and possibly have some Chinese connections. But that's not going to force other exchanges to follow the same path.
But Chinese government has their own great firewall which may ban any crypto exchanges in their country. So either way the Chinese people would be forced to leave the crypto market. I would say, it's good in long run!
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