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2501  Economy / Economics / Re: China is looking to get rid of the US dollar on: November 15, 2020, 12:25:35 PM
The difference between an open society and an authoritarian one like China is that an open society like a democracy removes their leaders peacefully through elections when they're bad shepherds of the economy. It's part of the social contract.  That doesn't exist in China.  The only way to remove the leaders is through violent revolution, so the stakes are much higher for them personally.

Well.. it is a bit complicated. How can you define an open society. Take the example of Vladimir Putin. He has been the president of Russia, for the last two decades. His opponents would say that he is an authoritarian ruler. But his supporters would like to paint him as a democratically elected politician. Also, we can't ignore the fact that the "open society" forms the biggest supporter base of the most authoritarian dictators (Mohammed bin Salman for example).
2502  Economy / Gambling discussion / Re: A gambler living in England makes a $5M bet on Trump on: November 15, 2020, 12:19:12 PM
There is no way the bettor can win even if the election is cancelled and rescheduled, Trump total votes was quite less than Biden at same time can't find a solid proof of Biden rigging the election. The bettor had already lost the bet and I don't think the loser will feel pained because that sum is affordable for him to loss.

I don't know whether there was vote rigging from the part of Democrats or not. Democrats are known to resort such tactics and I won't be much surprised if they did some sort of forgery. But here the blame should fall on the Republicans. If there was vote rigging, then they should have immediately protested while the voting was going on, rather than making noise one week after the elections.
2503  Alternate cryptocurrencies / Altcoin Discussion / Re: I'm dumping my coins because.. on: November 15, 2020, 12:13:22 PM
I'd rather agree with the OP. I am someone who have participated in dozens of bounty campaigns. I sold around 60% to 80% of the tokens that I received immediately, and held the remainder for long term hold. Out of the dozens of tokens I held for long term, not even one gave me good profit. Most of them are completely worthless now and are not traded in any of the exchanges or DEX sites.
2504  Economy / Economics / Re: Bitcoin will replace oil and Gold on: November 15, 2020, 12:07:09 PM
One of the well known comparisons I have seen is between the exchange rates of 1 BTC and one ounce of gold. A lot of cryptocurrency users went ballistic in 2017, when the exchange rate of BTC crossed the price of 1 oz. gold. But I had pointed out that the comparison is not right. You can compare the market cap of BTC with the market cap of gold. But you can't compare 1 BTC with 1 oz. of gold, because the units are different.
2505  Economy / Gambling discussion / Re: Test Cricket Prediction and Discussion Thread [self - mod] on: November 15, 2020, 12:01:34 PM
Australians are always favorite in their home ground as Indians are in their home territory. The day n night test match will be interesting to watch. The first test match will start in mid december so there is still one month before this test series will start. However before that India will already have played the ODI and t20 series and they will be used to the Australian conditions.

A decade ago, I would have said that it would be impossible for India to have any chance of a series win in Australia. But their performance in 2017 changed everything. I am not discounting the fact that Australia was without two of their best players. But what India achieved in 2017 was like breaking the invisible glass ceiling. So I am not striking off India's chances of another series win.
2506  Economy / Gambling discussion / Re: US Presidential Election 2020 and its impact on gambling on: November 14, 2020, 03:57:50 AM
Well I disagree. The GOP and Trump are against regulations, even obviously good ones, for example Trump signed orders allowing companies to dump toxic waste in rivers, like in a third world country.

The Dems are much more in favor of regulations. So if the online gambling industry is in the crosshairs of the administration for things like lax KYC, tax evasion, money laundering, then I'd expect a Biden administration to clamp down on these.

If a company dumps toxic waste in rivers, then the promoters will be jailed, with or without any regulations. Republicans want to remove unwanted regulations, which result in businesses losing a lot of time and effort without any positive impact. Look at the Bitcoin regulations in the US. Democrat run New York is having the toughest regulations, while Republican run states are having the most relaxed ones.
2507  Economy / Gambling discussion / Re: 🏏🏏 sportbet.one 🏏🏏 [IPL 2020] Prediction pool and discussion 🏏🏏 on: November 14, 2020, 03:54:44 AM
May be but i would say they should target the 12 teams format in the future and increase foreign players numbers to 5-6 (4 atm). By doing so IPL might look like mini T-20 WC in a decade or so.

LOL.. the existing franchises are going to oppose it like hell. I would rather go for a team tournament, with 5 overseas players in the playing XI. If they go for 12 teams, then Indian talent pool is not that big to ensure the quality. One option would be to give the franchises the option to include up to 6 overseas players in the playing XI. But with a section of BCCI officials complaining about the "foreign influx" I don't think that it can be implemented smoothly.
2508  Economy / Gambling discussion / Re: T20 and T20I cricket prediction and discussion on: November 13, 2020, 04:13:38 AM
DC played great at the start of the season. They got some great wins. I don't know what happened to them at the end of the season. After the performance of the whole team broke down a lot. But they played really great against SRH. If they hadn't lost early wickets in the final, I think the final would have been competitive.

DC was one of my favorite teams, because they had the largest contingent of young Indian players, in Shreyas Iyer, Prithvi Shaw and Rishabh Pant. But they were unable to maintain the momentum. And in more than one occasion, they lost matches which they could have easily won. I would still say that they were unable to win the tournament, because the players cared more about their individual records.
2509  Economy / Gambling discussion / Re: ODI cricket and general cricketing discussion [self - mod] on: November 13, 2020, 04:00:05 AM
Graeme Smith recently indicated that South African board would be willing to consider those Kolpak players who are willing to return to their country of birth. From 2021 onwards, the ECB is removing Kolpak option (since UK is no longer a part of the European Union). Some of the Kolpak players have changed their status to overseas players, such as Simon Harmer. But the vast majority of them need to find alternate employment.
2510  Economy / Gambling discussion / Re: 🏏🏏 sportbet.one 🏏🏏 [IPL 2020] Prediction pool and discussion 🏏🏏 on: November 13, 2020, 03:49:22 AM
I don't think they need a vaccine anymore. They can play another IPL in this BIO-Bubble kind of thing. I think they didn't even suffer any huge loss due to spectators their viewership rights might have made up for any loss. Franchises might have made somewhat lesser profits but BCCI would have still filled their pockets.

Mumbai Indians got 10 Crores for winning IPL. But let's not forget the people who earned much more than Mumbai Indians without even performing  Grin

Mr. Patt Cummins ( KKR )- 15.5 Crores
Mr. Glenn Maxwell (KXIP) -  10.75 Crores
Mr. Chriss Morris (RCB)  - 10 Crores
Mr. Sheldon Cotrell (RCB) - 8.5 Crores

Out of these four, Maxwell was perhaps the biggest disappointment. Cummins started badly, but he regained his form later. Morris was not given enough opportunities as he was ignored during the earlier phase. But when he was included in the playing XI, he performed exceptionally. And finally, Cottrell was doing OK, until that fateful match against RR. Just one bad over against Lord Tewatia, and he could never regain his form.
2511  Economy / Gambling discussion / Re: T20 and T20I cricket prediction and discussion on: November 12, 2020, 07:29:30 AM
Well, I don't think that 157 was a good score to defend when your opponent have got players like Rohit Sharma. Everybody knows what he can do. So I believe Delhi Capitals needed more than 170 runs.. may be 180 to defend against strong team Like Mumbai Indians. Everybody expected much tougher competition in the finals, but that wasn't the case. MI easily won the match and lift the title for the 5th time.

After 15 overs, DC was comfortably placed at 118/4. Usually teams get 70 to 80 runs from the last 5 overs, and based on that I was expecting a total of somewhere around 190-200. But they failed to even score 10 runs per over at this stage (they could manage only 36 runs from the last 5 overs). This is the sole reason why they lost the match. Another 20-25 runs could have made a huge difference.
2512  Economy / Gambling discussion / Re: Test Cricket Prediction and Discussion Thread [self - mod] on: November 12, 2020, 07:00:08 AM
Just to be clear, Babar took captaincy from Sarfaraz and Azhar Ali from ODI/T-20 and Test format, respectively. Pakistan has a habit of changing captains like clothes so i wouldn't be surprise if PCB change their captain again, if Babar fail as a test captain.

Hopefully this time Babar will remain as the captain for some time. Stability is needed at the most important position, but I understand why Sarfraz and Azhar were dropped. A lot of people were comparing Babar with Virat Kohli as far as batting is concerned (although I believe such comparisons make no sense at all). Now if he can do what Virat did with captaincy as well, then it will benefit Pakistan in a big way.
2513  Economy / Economics / Re: The pandemic did push the world towards a more digital age. on: November 12, 2020, 05:47:07 AM
This is very difficult for the poor because the world is in the digital age and they will not be able to buy anything due to lack of sufficient funds but in most countries the epidemic is pushing the world towards the digital age. Through the world is improving more if the government provides assistance to these poor people for the developing countries then the world will be more prosperous it will be possible to recover the country's economy soon and all people will overcome the crisis.

All you need is a smartphone, which is available for as little as $50. And even here in India, most of the poor people own smartphones. I will not deny that there are people who can't afford one, but the vast majority do have smartphones in their possession. Technology improvement and digitalization is having a huge positive impact on the lives of poor people.
2514  Bitcoin / Bitcoin Discussion / Re: Fees high on: November 12, 2020, 05:35:37 AM
As you can see, no. 1 is clearly over estimating the fees by over 300 times. That should be enough reason why this service shouldn't be used. It's crap.

Well.. their methodology is not inaccurate. They just calculate the median fee paid by all the users. They don't calculate the "optimal fee" which is required for quick confirmation. And at this point, the fee levels are high because the users are still paying such large fee despite the sharp decrease in the Mempool size. It is always better to review more than one fee-calculator, to know how much fee you actually need to pay.
2515  Economy / Gambling discussion / Re: A gambler living in England makes a $5M bet on Trump on: November 12, 2020, 05:24:08 AM
If anyone is having the audacity to make a bet that would destroy his entire wealth like that then he is in for a real awakening and the amount of time he might need to spend to accumulate the lost wealth will be a hard task and that could destroy his life forever.

The person behind the bet will be praying that once the votes are recounted Trump wins Grin.

He might have made this bet because he could afford to lose that amount. Each and every bet involves a certain amount of risk. And the greater the risk, that much greater will be the potential returns. In this case, the gambler did the right thing. Trump had a very large probability of winning the elections and the opinion polls were underestimating his support levels. And the results are not yet announced, as legal fights are going on.
2516  Economy / Economics / Re: Can legalisation of Cannabis help US economy? on: November 12, 2020, 05:14:14 AM
Vishnu.Reang thanks for explaining one of the facts about cannabis! Many people don't have a clue what cannabis actually is! Now I could talk about that for hours, but all the facts can be found on many places online, testimonies, videos, whatever you want, people just need to have a desire to learn.
I will just point out one fact, it's a plant! It's a seed that you plant in the ground and you get a beautiful product that can be used for many many things, and one of those things is pleasuring yourself and your mind!

Anyway, there is good news. This month voters in five states approved the use of marijuana - South Dakota, New Jersey, Montana, Arizona and Mississippi (only medical marijuana will be legal in MS). Also, voters in Oregon approved legalization of psilocybin (magic mushrooms) medical usage. It is good to see the voters approving these measures. No one gains anything by jailing hundreds of thousands of pot users, while those who kill tens of thousands with synthetic opioids spend their time vacationing in Maldives and Jamaica.
2517  Economy / Gambling discussion / Re: T20 and T20I cricket prediction and discussion on: November 12, 2020, 05:03:09 AM
This has been going on for quite sometime now but as you mentioned it did not work out for England earlier the same will happen in the future. Some cricket veterans have been idle for sometime now and to come into the limelight they come up with intersting theories like this sounds more like a PR gimmick.

Earlier most of the boards would pick the same players for all the formats, with a few exceptions. But now that is not the case. They have separate sets of players for all the three formats. Some of the boards have one set of players for test matches and ODIs, while another set for the T20Is. Overall, this is beneficial for the players as it gives more opportunities to the younger players and makes sure that the key players are not overburdened.
2518  Economy / Economics / Re: PayPal to allow cryptocurrency buying, selling and shopping on its network on: November 11, 2020, 12:48:25 PM
I've been using Paypal for two decades. They're in it for the money. It used to be that they charged 3% when selling something on eBay, and you couldn't ask the buyer to pay these fees (or even share them). Really annoying when your margin is small already.

The fees don't need to be high, exchanges usually offer trading fees that are less than 1%, it's very easy to hide a fee of 0,25% for example in the price. If I compare the price between various exchanges : https://cryptoradar.co/buy-bitcoin a more than 0,25% difference is common.

Obviously when they have the monopoly, they will be able to charge higher fees. But unlike the case with fiat currency payments, attaining a monopoly with Bitcoin payments will be very hard. Since Bitcoin is a decentralized asset with a very high level of liquidity, PayPal will never achieve any sort of monopoly in that sector, although they may try really hard to attain it.
2519  Economy / Economics / Re: Can legalisation of Cannabis help US economy? on: November 11, 2020, 12:38:37 PM
I don't know if Cannabis demand in America are high or not, if the demand high it should be able to help the US economy.
But Cannabis is one of those dangerous to the health of the body if used in the long term, therefore in my opinion legalizing
Cannabis is not the best solution to help the American economy. Not because want to help the US economy, it is the American
population who is at a disadvantage, as we know there are many negative effects caused by Cannabis.

Prescription opioids are causing the deaths of around 50,000 people every year in the United States. And how many deaths are caused by Marijuana? If weed gets legalized in the United States, the number of deaths from these synthetic opioids will go down significantly, and a lot of lives will be saved. However, the pharma cartels will face huge losses and that's one of the reasons why they are opposing the legalization of cannabis.
2520  Bitcoin / Bitcoin Discussion / Re: Any idea when the Bitcoin Mempool will stop being so congested? on: November 11, 2020, 12:27:15 PM
Good news for Bitcoin users. Mempool is almost empty now. A few minutes back, the size was less than 1 MB. Compare this to what we had four days back, when the Mempool size was more than 80 MB. I just checked Earn.com, but they are still showing 330 Sat/Byte as the median fee (I guess they haven't updated the stats in a while). The last Block (#656261, mined by Poolin) was half-empty as there were not enough unconfirmed transactions to be included.
 

I don't have the solution in how software/apps should get the most updated recommended fees in the network automatically, but it's also partly the responsibility of merchants, and wallet developers to make it more efficient. The other part is the users. The community should remind newbies to always check the mempool, and set the fees manually.

I disagree here. The median fee shown by Earn.com is correct. They show the median of the transaction fee paid by all the users, and not the minimum fee which is needed for confirmation. If the users are paying a higher fee (although it is not required), then the median will also go up. But those who refer sites such as Earn.com needs to keep this in mind. Even now they are showing a fee of 348 satoshis/byte.
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