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2461  Economy / Economics / Re: The Fed's purpose of "QT" or Quantitative Tightening. on: June 04, 2022, 11:55:18 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

Boom and bust is a natural economic cycle that has existed in free markets since they began. It is like the sun rising and the sun setting. What you are describing with quantitative easing and quantitative tightening is government meddling in that process which usually ends up going wrong at some point. Quantitative easing, like you say, floods the market with cheap money which occurred after the financial crisis all the way back in 2008, it was jolt to bring the economy back to life which was helpful at the time. However giving away cheap money keeps people happy and makes it easier for politicians. It should have ended after a couple years, with maybe the next ten years paying back the original overspending to balance the budget. They left the money tap on for far too long though and just ended up blowing the balloon up for a bigger burst next time around.


But the pandemic forced the Fed to print money to keep the economy chug along, or a recession would happen. The Fed will do whatever it could to "balance" the economy. If they're doing a good job, or not, is another debate altogether. Currently, the Fed needs to increase interest rates and QT, the U.S. Federal Government needs to increase taxes to draw money out of the system, control demand, and lower inflation. The Fed will not stop until a big company, or a big bank, or the money market "breaks".
2462  Economy / Economics / Re: The Fed's purpose of "QT" or Quantitative Tightening. on: June 04, 2022, 09:40:05 AM
It is almost impossible to predict the Fed’s policies in the coming period, especially during the second and third quarters of this year, but it seems that we will face it.

Either consider inflation as the problem and start withdrawing liquidity and raising interest rates, or trying to accelerate the economy to push it away from recession as the main problem.


Ser, a RECESSION is what the Fed wants to contol demand. They literally want U.S. plebs out of savings, and laid off from their jobs. If they accelerate the economy by injecting liquidity it would risk Hyperinflation.

This is literally the kind of manipulation that motivated Satoshi to build Bitcoin.

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In any case, we are facing a state of uncertainty and therefore a lot of markets will be very turbulent during the next few months, and some random variables such as closings in China, food and energy situation will complicate a lot of calculations.

Therefore, you cannot say that the scenario you mentioned will come true.


It will come true. It's in their "instruction" manual. Cool

Yeah, we've all seen this before haven't we? Our parents have seen it before really, and since the 1970s was in the generation they were born in, even our grandparents have seen it before.

Don't even need to look so far away from home, in my tiny enclave in Southeast Asia it's the same old cycles of banking problems, followed by fiat printing, interest hikes, and relentless bailouts. Our most famous CEOs, politicians, corporate moguls have all bankrupted several times in the past decades. Whereas for the regular joe, bankruptcy is the end of adult life, for them it's a chance to give speeches about how they had to fail 10 times to succeed finally.

Bull run in 2023? Not so soon though I think. That'll be too little pain to bear (laughs+cries).


I believe not a bull run, QE and bail outs, and the bullish effects of that will start several months after when the money/liquidity starts going around the economy.
2463  Economy / Economics / The Fed's purpose of "QT" or Quantitative Tightening. on: June 04, 2022, 06:53:29 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
2464  Economy / Economics / Re: Food crisis coming? What's wrong about it? It could be good on: June 04, 2022, 06:38:52 AM
I've read a few articles explaining that a food crisis is coming, I want to tell you something about it. There will be no food crisis for me.
Price of pasta, price of cooking oil, rice or meat will increase 20%? 30%?

That's all right. I don't care much. I can handle it, just like most people in developed countries. We don't spend much on food, increasing that budget by a third is perfectly fine.


Laughable post. I believe you don't truly understand its direct connection with the whole economy in general. Higher prices of food, a basic need, will also mean higher prices of "many other things". Higher prices of "many other things", including fuel/energy prices will also mean less savings for you, AND the company you're working under will have higher monthly expenditures, which will also mean job lay-offs.
2465  Economy / Economics / Re: Bitcoin Is Legal Tender in El Salvador, Here’s How It’s Going on: June 03, 2022, 10:30:50 AM
I imagine that we all had very high expectations in this respect, but on reflection, El Salvador does not seem to be a country where the population in general is massively adapted to new technologies, so it is normal that bitcoin adoption is slower despite being legal tender. If we add to that the volatility and the fact that the price has not gone as well as many of us expected, I think it is normal for things to be slow.

Regarding the Chivo wallet downloads, I think this has already been discussed in another thread. It is normal for them to decrease, as the population of El Salvador is finite and once practically everyone has downloaded the APP, it is normal for downloads to decrease.


Or simply, many of them don't need it. The situation of an ordinary El Salvadorian person might be not the same as the situation of Mr. Heroine Dealer in the Dark Market who's looking for the most efficient way to transact anonymously with his clients. Plus Bitcoin might not be for mere personal finance. It might be something for much more.
2466  Economy / Speculation / Re: BTC Sentiment Poll for June on: June 03, 2022, 10:07:48 AM
I voted yes. Zoomed out to the maximum, I'm very bullish. Bitcoin is currently in a super cycle, BUT within that cycle, there are bearish cycles. 2018 and 2019 were part of a bearish cycle, and 2022 and 2023 will also be part of another bearish cycle.

Well many were expecting this month to be bearish because it’s when QT starts. However you need to understand that it was priced in a long time ago.

Look at the yields, everything is already priced in. So keep in mind when it’s very obvious that something is bearish and everyone is bearish the complete opposite can happen. That’s usually how the markets are. That’s why there are many bottom shorters and top longers out there.


We cannot be sure of that. Plebs like us should understand that rate hikes and QT's effects are not felt immediately. It will take time, and once something "breaks", the Fed will reverse its policy and start lowering rates/start QE again to bail out those banks and large companies that "broke".

That's only in the U.S., in the E.U. I believe their own rate hikes and QT are only starting.
2467  Bitcoin / Bitcoin Discussion / Re: Lightning Network Observer on: June 03, 2022, 05:06:27 AM
What if NO KYC services built directly on top were the value proposition of Lightning? Many people in the community don't like KYC, no? Would that help onboard more users?

Absolutely. For me, Lightning is about cheap and fast payments as well as privacy. It's definitely possible that you also have legal advantages when building something fully off-chain instead of using on-chain payments, but I'm not sure about that.

In general, it's been proven that crypto-only casinos are easier to run long-term and I believe it's actually the standard model today. I may be wrong, though, since I'm not a big betting man.


I believe that we have only started to scratch the surface with "what Lightning is". It might not be merely for cheap/fast payments as originally advertised. Bitcoin was first conceptualized to be a "Peer-to-Peer Electronic Cash System" too, but obviously it has become much more as we started going deeper in understanding of what it can truly be.

Shower thought, NO KYC exchanges built on Lightning, with NO KYC as the value proposition. Is this possible?
2468  Bitcoin / Bitcoin Discussion / Re: Lightning Network Observer on: June 02, 2022, 12:27:41 PM
Shower thought. I saw this roulette game built on top of Lightning, https://lightning-roulette.com/

NO KYC, No registration required, No privacy-leak risks. It's just the casino, you, and the Lightning Network. It's like DirectBet, but off-chain. What if NO KYC services built directly on top were the value proposition of Lightning? Many people in the community don't like KYC, no? Would that help onboard more users?
2469  Economy / Gambling / Re: Question for regular casino players. Will you use Lightning if available? on: June 02, 2022, 09:15:28 AM
I'm starting to see, and recognize that merely "accepting" deposits through the Lightning Network "because cheap/fast Bitcoin transactions" might not be enough to attract users to actually force them to use it. Altcoins have been doing the job good enough for many users for fast/cheap transactions. But shower thought, what if a casino with absolutley NO KYC as a unique selling proposition, and built directly on top of Lightning like the way DirectBet was built on top of the Bitcoin blockchain?

As an example, a casino like this, but with more games, https://lightning-roulette.com/

I've seen one site put in Lightning and then after a while remove it anyway despite most people there using BTC to play. Especially the past few years fees have really been cheap enough to send normally, I guess the demand isn't as much as we would have thought.


It's more complicated than "demand for Lightning isn't high". It's also because, as I said in my post that you quoted, a lack of unique selling proposition for the casino/lack of unique value proposition for the user to use the Lightning Network. It's not only happening in casinos, but also in exchanges as well. As debated, what if a casino, or an exchange was built on top of Lightning and offered NO KYC as a unique selling proposition? I believe it might be something many people in the community would like.
2470  Other / Archival / Re: Bitcoin's historical correlation with traditional markets begins to weaken on: June 02, 2022, 06:27:49 AM
OP, that chart is just from first of March to end of May. That's merely 3 months, and not enough data to say that the correlation has truly weakened. When in doubt, always zoom out. Can you post the link of the site, and can we zoom out?

This is the zoomed out chart from CoinMetrics, https://charts.coinmetrics.io/correlations/



The correlation is currently in ATH. I believe it's because Bitcoin has become very mainstream and has surged in adoption among legacy market investors/traders.
2471  Economy / Gambling / Re: Blackjack.fun | 0.28% House edge | Live tables | Baccarat |Slots| InstantWithraw on: June 02, 2022, 06:12:07 AM
fiulpro posted an interesting concept about NFT Slot Machines, https://bitcointalk.org/index.php?topic=5400899.0

Can a concept like it be built within a Bitcoin casino like Blackjack.Fun? I believe NFT collecting through games can be turned into a more sustainable hobby than betting money away. It would also make the same users keep coming back to the site, creating a dedicated community of collectors.

I think the concept can work properly for the bitcoin casino, but it needs further research because if the NFT does not have or give benefits to the members, it will have no use for them and will be just for collection without selling it at the market.


The benefit could be different monthly lotteries to win bonuses for NFT owners. Or there could be a monthly raffle for the type of trait a card has that can be given higher cashbacks, or given free casino currency to use in different games. There can also be "combination raffles", with two or more cards are needed to unlock a bonus.

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A dedicated community of collectors needs a market to buy and sell the stuff like NFT and if the casino accommodates it, the casino will be a place for the market and not just for a gambling place.


It doesn't have to be a "market" for buying and selling NFTs in exchange for Bitcoin. It can be a place for direct NFT-to-NFT trading. Cool

fiulpro posted an interesting concept about NFT Slot Machines, https://bitcointalk.org/index.php?topic=5400899.0

Can a concept like it be built within a Bitcoin casino like Blackjack.Fun? I believe NFT collecting through games can be turned into a more sustainable hobby than betting money away. It would also make the same users keep coming back to the site, creating a dedicated community of collectors.
I think the concept can work properly for the bitcoin casino, but it needs further research because if the NFT does not have or give benefits to the members, it will have no use for them and will be just for collection without selling it at the market.

A dedicated community of collectors needs a market to buy and sell the stuff like NFT and if the casino accommodates it, the casino will be a place for the market and not just for a gambling place.

IIRC rollbit has this kind of NFT but in a form of Rollbot but the article shared on the link was NFT for the casino built on metaverse. Meaning the casino is running on blockchain which is easy them to implement NFT with benefits to its user unlike centralized casino like blackjack.fun. I think NFT idea is not easy to implement on our casino and as you said already, It really need to have proper research and devs to work on that particular area.


What blockchain is that casino built on top of? Does it function like DirectBet?
2472  Economy / Gambling / Re: Blackjack.fun | 0.28% House edge | Live tables | Baccarat |Slots| InstantWithraw on: June 01, 2022, 12:30:08 PM
fiulpro posted an interesting concept about NFT Slot Machines, https://bitcointalk.org/index.php?topic=5400899.0

Can a concept like it be built within a Bitcoin casino like Blackjack.Fun? I believe NFT collecting through games can be turned into a more sustainable hobby than betting money away. It would also make the same users keep coming back to the site, creating a dedicated community of collectors.
2473  Economy / Economics / Re: Russia's economy is 'imploding' on export decline, economists claim on: June 01, 2022, 11:31:28 AM
I believe if Russia's economy fails more and more, there might be a Black Swan that's getting itself ready to emerge, and show itself to everyone's surprise/shock. Will it be World War III? I don't know. Naseem Taleb didn't use the expression Black Swan to define some that would predictable. If it's indeed to be a Black Swan, we will never know, nor will it be predicted. We can guess though. Cool

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vy can launch missiles at Ukraine.

The ports where submarines regularly docked in Sevastopol’s Southern Bay (Crimea) were empty on the afternoon of 13 May, Crimea Realities, a local media outlet, has claimed.

The Russian Black Sea Fleet consists of six submarines of the “Varshavianka” class: B-261 Novorossiysk, B-237 Rostov-na-Donu, B-262 Stary Oskol, B-265 Krasnodar, B-268 Veliky Novgorod, and B-271 Kolpino.

https://eurasiantimes.com/russian-submarines-are-now-in-the-black-sea-as-moscow-ukraine/

2474  Bitcoin / Bitcoin Discussion / Re: Bitcoin long-term holders continuing to ‘soak up supply’ around $30K on: June 01, 2022, 09:37:33 AM
Despite being underwater on a portion of BTC positions, data shows long-term holders continuing to accumulate Bitcoin in its current range.

People may have learned not to miss the accumulation phase.  The current Btc price is more than -50% from the last ATH, I guess that's almost 60% loss. So, this current region where Btc has been revolving might be the bottom of this bearish period.

Nevertheless, when Btc continue to dip, we are going to expect more accumulations. Bottom price wouldn't fall below $20k most probably, judging on how investors are reacting with the current Btc position.


If you are aware of the current macro-economic events, it's debatable. The Fed in the U.S. continues to fight inflation by lowering demand through quantitative tightening, raising interest rates, and contracting the balance sheet. In the E.U., it has been recently recorded that its inflation is also high at 8.1%, and would also need their own QT, own raising of interest rates, and contraction of the balance sheet to lower demand. There will not be a "soft landing", but a hard one, forcing a recession.
2475  Economy / Gambling discussion / Re: NFT slot Machine !! on: June 01, 2022, 09:19:53 AM
The concept is new and from what I see is targeting a bigger user base because NFT-s can be sold and people have already paid nice amounts of money for a single NFT so far. That is I think the main selling point of this new concept. Personally I am extremely conservator when it comes to gambling so I like much more the traditional slots without added bonuses like the NFT-s but that is just me.I think most people will really like the concept and this will just boom even more with the passing of time.


Although the market and making profit from the original investment is a part of HODLing NFTs, I believe the creators of NFTs should also make them more dynamic, if possible, and therefore making them more "valuable" depending on how long it has stayed in a user's wallet.

To illustrate, let me give you a shower thought. What if a "common NFT", but a dynamic one, would increase its probability of "generating" a rare trait if it stored in a special wallet, giving the holder an opportunity to increase his NFTs value? Cool
2476  Economy / Gambling discussion / Re: NFT slot Machine !! on: June 01, 2022, 07:25:25 AM
I really like the concept, the fact that users can win NFTs on a slot machine is new for me, and for sure some of those NFTs have a nice value on the market.

The fact that we have to sell that NFT to make a profit from our bet makes me think how users will gamble more for the collectible than for money.


I like the concept too. I also admitted my mistake in saying that NFTs are Tulip Mania 2.0.

https://bitcointalk.org/index.php?topic=5377417.msg59219783#msg59219783

Although, there will be some people in the forum who wouldn't like it because their belief remains, "NFTs have no value". I have debated against it, and asked who are we, as plebs, to say what has, or has no value? It's the market that decides "value", including shitcoins.

https://bitcointalk.org/index.php?topic=5377417.msg59247492#msg59247492

Plus the concept of "NFTs" was already mentioned by Hal Finney. I believe Bitcoin as a protocol has missed the ride in this development.

2477  Bitcoin / Bitcoin Discussion / Re: Bitcoin long-term holders continuing to ‘soak up supply’ around $30K on: May 31, 2022, 10:38:50 AM
I believe we might be in that phase when everyone else starts to think that Bitcoin has reached the bottom of the current cycle, and that it couldn't go down further anymore. BUT remember when Bitcoin was crabbing around $6,000 during 2018, and then it crashed down to $3,000 in November, 2018? Bitcoin $29,000 might be the new $6,000. Cool

I wonder if it's the same in the stock markets really. Big tech ones like Mr Musk's own is still down more than 50% from ATH (same as Bitcoin really) and if there are stubborn long-termer Bitcoiners soaking up all the sell orders, I suspect the same is happening elsewhere across the board with global markets. Forex, stocks, commodities. Just believers biting down hard and coping.

Didn't mean to sound like a dampened blanket, just wondering if/when Bitcoin will shrug off the correlation this year.

I thought it has de-coupled a week ago, when bitcoin goes ~$30k, stocks soars. But this is just short lived though as both market finally have a good break out run.

But yeah, bitcoin long term holders will always take advantage and whenever they can, will build their wallets again with this cheap bitcoins from those panic sellers. And so let's see if we can get the numbers at least $32k at the end of the week.


But when the Federal Reserve turns off the tap, I believe the U.S. markets affect ALL markets around the globe, and it has always been that way as long as the U.S. is the global leader, and having the largest economy.
2478  Economy / Gambling / Re: Question for regular casino players. Will you use Lightning if available? on: May 31, 2022, 08:23:21 AM
I have been an early adopter of the Bitcoin lightning network and a strong advocate, I will gladly use the service if it is available in any casinos. The mass adoption of lightning networks will be more effective if there is high demand for platforms such as casinos.

There are already some casinos that integrate lightning network which is really good to look at or make use of but the main issue is the trust that do connects with it that's why they aren't really able to get sufficient number of players due into that kind of problem which is something not surprising.

I've seen that this one is done well but not all would really be that confident on using LN yet they do say that it's still on developmental state and they do much prefer those older ways.


I'm starting to see, and recognize that merely "accepting" deposits through the Lightning Network "because cheap/fast Bitcoin transactions" might not be enough to attract users to actually force them to use it. Altcoins have been doing the job good enough for many users for fast/cheap transactions. But shower thought, what if a casino with absolutley NO KYC as a unique selling proposition, and built directly on top of Lightning like the way DirectBet was built on top of the Bitcoin blockchain?

As an example, a casino like this, but with more games, https://lightning-roulette.com/
2479  Economy / Gambling / Re: BitLucy.com 🎰 100% Deposit Match ⚽🏏🥊🏀 UP TO €5000! 🔥 on: May 31, 2022, 08:08:32 AM
If I were in the management of bitlucy, I would consider switching to an Igaming provider. Then you have everything ready and the software and platforms are 100% reliable and also extensively tested. You can now remove a few mistakes, but those mistakes will come back another time in a different form. You have just started advertising on the forum, now is the time to switch platforms.

Man as far as I know the problem is not from the provider but from users who abuse bonuses , I don't think the problem is this complicated because only by removing the bonus or update the requirements the problem is solved, we don't know what update they did so it will take longer. we'll find out tomorrow and see if there really a change of provider.


The most efficient, and probably the only update a casino can do for fraud prevention is KYC. Fraud/cheat detection through software alone is an unsolvable problem. Cheaters, the smart ones, always find a flaw in the system, then exploit it, causing the developers to patch the flaw, then cheaters find another flaw for the developers to patch again. It's the same problem in everything that involves software.

Implementing KYC is also not the most efficient way may be efficient to prevent bonus abuse but users don't like KYC
You probably know most gamblers avoid KYC if it is implemented here then Betlucy will lose to compete with casinos without KYC


But if it is applied to some suspicious users then it can be considered and must be explained in the T&C.


That doesn't make the efficiency and convenience of KYC to prevent cheating and multi-accounting any lesser. But if you believe it's not the most efficient way to handle it, then what would be the more efficient/better way? We have seen none that could replace KYC. We've had seen the same evolution happen with KYC in centralized exchanges. It's just simply easier, more cost-effective, and more efficient for any centralized service.
2480  Economy / Speculation / Re: Realist World of Crypto Space on: May 31, 2022, 05:07:35 AM
Not so fun fact: Ben Armstrong a.k.a. BitBoy Crypto (the first tweet) takes payment from crypto projects, then shills these projects on his YouTube channel. I wouldn't listen to anything that grifter says.

https://twitter.com/zachxbt/status/1478082010807742468?lang=en


Merely one of the many charlatans who are using the most obvious of Bitcoin predictions to increase their influence among inexperienced Bitcoin HODLers, and scam them out of the most precious thing they own. Yes, obviously it's their Bitcoins. Although, it's hard to disagree with his Bitcoin "long term bullishness". Cool
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