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2581  Bitcoin / Bitcoin Discussion / Re: Where do you store your seed? on: October 11, 2020, 10:20:22 AM
Make a mnemonic word seed and then store 1/2 or 1/3 of the 12 word or 24 word phrase in different locations. Most thieves wouldn't even bother with 4 or 6 random words. Those who obtain said words would need to know the location of other seed sites. If you spread them out online and in real world environments it would become a daunting task for most thieves. Storing them around the world also allows for redundancy in case one site burns down.

This would be so troublesome to store around the world. First you'd have to own secure locations in different countries which is already an enormous problem for most people. For instance, I  don't know anyone outside the and don't own any properties EU. Even relatively rich people don't own properties on different continents. Imagine that you're out of money and need to move your coins and you have to spend a couple days travelling to the locations of all your phrases. This is an example of how you can go too far with security. If you're afraid  of a fire, just use a metal plate or a fireproof safe.
2582  Bitcoin / Bitcoin Discussion / Re: Sixty Coinbase employees take buyout offer after no politics at work rule on: October 10, 2020, 01:48:35 PM
If those employees resigned because of the new rule, they weren't right for the company in the first place. I don't think the firm will miss them at all. I'm surprised though that so many of them took action.
Personally I wouldn't talk politics especially at work anyway. It's just not the right place for imposing your views.

Maybe they were thinking of leaving and this gave them the opportunity to get paid for a few months forward and be able to look for a new job. It's not allways have to be about politics. If you knew there's some change coming in your life like you were planning to take a trip or move abroad, your CEO just gave you a green light plus some money for the road.
2583  Economy / Economics / Re: The 2nd generation of banking is going digital on: October 10, 2020, 01:34:12 PM
The banking is already digital. It became digital the moment they stopped holding physical records of every transaction and allowed computers to take over.
Digital banking is far better than traditional simply because it's faster, more convenient and requires less people in the middle and even less people contact. In Japan they introduced restaurants and bars where you don't order, but instead press a button on the list and swipe your card. IMO this is how all future trades will look.
2584  Economy / Speculation / Re: Why Bitcoin is rising suddenly ? on: October 10, 2020, 12:50:47 PM
It suddenly crashed in the early September so this recovery isn't something I'd call suspicious or manipulated. It couldn't reach new lows so it went up looking for high resistances to break. If that crash wasn't a maniplulation to you why is coming out of it a manipulation, OP? Technically speaking, we had a breakout that was followed up by traders in different time zones.
2585  Economy / Economics / Re: Venezuela Planning New 100,000-Bolivar Bills Worth Just $0.23 on: October 10, 2020, 12:42:02 PM
Most countries did the same before the collapse of their currencies but what can they do? They want people to be able to pay without having to carry a bag full of money every time.
Unfortunately this is only postponing the inevitable because at some point the process of printing a bill will be worth more than the bill itself.
2586  Economy / Economics / Re: Bitcoin can be a part of N N Taleb's "Antifragile Barbell" Investment Scheme on: October 04, 2020, 09:48:06 PM
He might be right because Bitcoin was so undervalued that people thought it wouldn't survive and were quick to regard it as a dying project every time some litte problem came to light.
When it kept on going people begun to change their minds and think that maybe it is that honeybadger, that white crow they were looking for. So, yes, as long as bitcoin stays on the investment map it's going to keep growing and gaining supporters and believers.
As for real estate being more risky than people think, I agree, but it's one of the few things that won't become worthless (unless there's war). Land will always have value, even if that value drops significantly, which can't say about stocks.
2587  Other / Politics & Society / Re: The second hand clothes market is booming. on: October 04, 2020, 09:35:21 PM
I've noticed that the quality of clothes available in stores has dropped significantly. What used to be considered normal (like 100% cotton) is now sold as "bio" and costs more, while the "normal" clothes are all made of cheap plastic. As time goes by good quality clothes are going to become more expensive, I'm sure of it.
2588  Other / Politics & Society / Re: Social media and tv making us adult before time? on: October 04, 2020, 09:21:34 PM
First of all, children lack imagination. When we (people who are ar least 30 years old) were kids, we read books and comic books, listened to stories told by our parents and grandparents. Movies were a feast. You had to borrow them or go to the theater, so they were celebrated and remembered.
Now kids spend all days watching movies and playing games and usually can't even tell what they were about. They can't focus on a single thing and jump from one train of thought to another. They're nervous, often develop anxieties. Can't really hang out with friends without something that would keep them busy like a phone or a console. IMO the next generation is becoming anti-social.
2589  Economy / Economics / Re: Not enough Corona Virus Vaccine until 2024, at earliest on: October 04, 2020, 06:21:14 PM
Let's say this prediction is correct. Do we really need as many vaccines as there's people in the world? Of course we don't.
By the time this is released, some will have antibodies, some will be dead, cildren don't get sick so they won't need it, healthy teenagers don't need it, most healthy people don't need it, they will simply fight it of. People in very hot climates won't need it, as the virus doesn't spread there. This will greately limit the real number of vaccines they need to make.
2590  Economy / Speculation / Re: Predict the bitcoin price range as we enter the New Year on: October 04, 2020, 05:56:21 PM
I believe in the Winter pump that will take us back towards 20k, just like in 2013 and 2017. There's a pattern here of small pumps in Spring followed up by big ones around the end of the year. In 2013 there was a small bull pump in April, followed by another in December. This year we went up in July and there's a chance the move will repeat.

That’s a possible scenario, but you forget that the big pump of 2017 you’re referring to was created only a year and a half after the halving - and that it will take at least as long to feel the effect of the halving that happened a few months ago.

I can only reiterate that the price of Bitcoin comes from the overall state of the markets - which in turn depends on the mood of investors who are closely following what is happening in the world when it comes to pandemics, recessions or the fact that Trump got the virus just a month before the presidential election.

I was also referring to 2013 before the Gox bubble. It happened more than once.
Regarding what you said about it taking at least a year and a half, that's only if you believe in that progressive bitcoin cycle theory, but it's based only on 2 cycles. Of course the last cycles were getting longer, but I believe there's more at play here than just the time periods before the bottom, the halving, and the next ATH and a great example of such events was the pandemic crash that cancelled the bullish wave we were following since January.
2591  Economy / Economics / Re: Cares Act- How will this effect the economy down the road? on: October 04, 2020, 05:00:53 PM
First of all, as a libertarian I treat social security as a tax. It's not savings because you cannot opt out, so if they'd allow me to take my money out I'd do it in an instant.
The whole system should be disbanded if you ask me. The usual argument of its supporters is "what if you couldn't manage your money because you weren't smart enough and lost everything?" I'd ask someone smart to do it for me, but at least I'd know that I can withdraw at any point. Retirement plans should be managed directly or by private companies, not by a centralized institution that makes you wait until a certain age.

I think it's absolutely correct to view social security as a tax. Logistically, the money you're taxed isn't put into an account for you to withdraw later when you retire. It's paid out to current retirees in the present. In the future when you retire, your payments will come from younger workers who are paying the social security tax.

Which, if you think about it, makes the whole idea a big scam. If your money is being spent to pay off the previous generation and the next generation will pay for you, what happened to the money paid by the first ever participants in the program? Those people who were told that if they keep paying, their moeny will later be paid out to them. Who stole that mone and indebted the system?
2592  Bitcoin / Bitcoin Discussion / Re: How do you leverage the power of your Bitcoins? on: October 04, 2020, 04:23:15 PM
I wouldn't do it because for me Bitcoin is already a pretty volatile investment so I wouldn't add another risky business on top of it. Taking a loan with my bitcoins as a collateral would limit my possibilities regarding my main investment. Of course it could be even more profitable in the long run so I won't say it's not tempting, but with the amount of money I have in BTC right now, I'm good.
2593  Bitcoin / Bitcoin Discussion / Re: Bitcoin illiteracy due to online exchanges on: October 04, 2020, 04:06:00 PM
Exchanges want to invite clients by making it easy for them to buy, store and trade Bitcoin so a newbie who never took money off an exchange will of course be illiterate, even though he technically owns Bitcoin. The same can be said about people who hire fund managers to invest their savings. They don't know how to trade and have never bought stocks, but they have people who do it for them every day and make them money.
It's always better to know how to do things and be able to do them yourself, but don't expect every woman to know how to change a tire or charge a car battery. Many people will never know how to use Bitcoin despite owning some.
2594  Bitcoin / Bitcoin Discussion / Re: Quantum resistance on: October 04, 2020, 03:55:02 PM
People who are scared of quantum computers breaking Bitcoin encryption are not aware of a few things like the one that quantum computers don't "see" programs we currently use. They can make a lot of calculations but for them to break Bitcoin hash somebody would have to translate that hash for them and then be able to decypher the results that the quantum computer will provide. Now imagine doing that to a public transaction. By the time you'd do it there would be a hundred new transactions on top of it and and you'd still have nothing.
2595  Economy / Speculation / Re: Predict the bitcoin price range as we enter the New Year on: October 03, 2020, 01:12:38 PM
I believe in the Winter pump that will take us back towards 20k, just like in 2013 and 2017. There's a pattern here of small pumps in Spring followed up by big ones around the end of the year. In 2013 there was a small bull pump in April, followed by another in December. This year we went up in July and there's a chance the move will repeat.
2596  Economy / Economics / Re: Cares Act- How will this effect the economy down the road? on: October 03, 2020, 12:39:33 PM
First of all, as a libertarian I treat social security as a tax. It's not savings because you cannot opt out, so if they'd allow me to take my money out I'd do it in an instant.
The whole system should be disbanded if you ask me. The usual argument of its supporters is "what if you couldn't manage your money because you weren't smart enough and lost everything?" I'd ask someone smart to do it for me, but at least I'd know that I can withdraw at any point. Retirement plans should be managed directly or by private companies, not by a centralized institution that makes you wait until a certain age.
2597  Economy / Economics / Re: "Humans will not be replaced by robots very soon" --- yeah right !!! on: October 03, 2020, 12:09:12 PM
Skynet is coming !!! Arm yourself's.

With what? sticks and stones?
In the EU it's getting more and more difficult to get firearms. The left is gaining more power and coming up with theories that it's not people who kill but weapons and that if we allow people to have firearms they'll keep killing each other... That said, firearms won't stop self-learning machines. How do you arm yourself against an evolving virus that lurks in the Internet and takes over your tesla autopilot to crash you into a fuel truck?
2598  Economy / Speculation / Re: Bitcoin over $10,000 for the past 66 days on: October 03, 2020, 11:49:37 AM
When we went above 10k in 2017 I believed that a drop to 10k would already be big and there would be no need to fall lower, so of course it's possible to go lower as Bitcoin depends on the world economies, stocks, fiat currencies, politics... One thing is certain, the lows are getting higher. While last year 3k was the low, this year the price seems to hold 5k pretty good. There was a small spike below but it was the result of low liquidity on exchanges. I feel like at this point if anything goes wrong we'll still bounce back from 5 or 6k. Next year you can expect even higher lows.
2599  Bitcoin / Bitcoin Discussion / Re: Has anyone accidentally sent or received BTC to and from another address? on: October 03, 2020, 11:43:53 AM
I have received some BTC dust spam back in 2018 when the network was under attack by BCH supporters. I wouldn't say this was by accident though. They were spamming random addresses this way. I've also seen people receive dust that was supposed to work as advertising. The transaction contained a message with the name of the site it was supposed to promote.
I haven't got a large sum but I'm not sure what I'd do if one day I found a lot of BTC on one of my old addresses. The right thing would be to send it back, but it would be very tempting to keep it.  
2600  Other / Politics & Society / Re: Trump has Coronavirus :( on: October 02, 2020, 03:58:49 PM
he could now pour a whole bottle of disinfectant into his body and see if it has as good an effect on him personally as he claimed at the beginning of the pandemic... Roll Eyes
even if i do not like him - get well quickly! Smiley

Pure spirit is a great disinfectant. I wouldn't mind fighting covid this way. I could check out if high doses of ethanol make you immune to the pandemic. They sure make you care less about this worldwide theatrics. Tongue
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