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2721  Bitcoin / Bitcoin Discussion / Re: We enter a new era of heavy regulations on: October 14, 2021, 06:10:25 AM
Such heavy regulations might be the end of big centralized cryptocurrency exchange platforms.
Which isn't bad at all."Be your own bank" might become the new norm and we will be moving towards more peer-to-peer trading and financial transactions in the crypto world.Crypto exchanges were convenient for the average user,but this comes with a cost,like KYC verification,paying fees,the risk of the getting scammed,etc.
I have nothing against "whitelisting" my Bitcoins,since I have never earned any Bitcoins via scams,hacks,trading on the darknet or via other illegal methods.I have nothing to hide.I'm sure that 90% of all Bitcoin users have nothing to hide as well.
2722  Bitcoin / Bitcoin Discussion / Re: Estonia on a road to possibly revoke most crypto licenses issued in the country on: October 13, 2021, 11:39:20 AM
They are one of the most crypto friendly countries in my opinion. If I'm not mistaken as early as 2017, some crypto projects wanted to move to Estonia because of that reason.

Maybe it grew too big for the government to really monitor everything that's why they wanted to review it. Hopefully though, it doesn't mean the total shutdown of exchanges and financial services in the country, otherwise if could be a big blow to crypto market in general.

1."Crypto friendly" countries can become not-so-crypto friendly pretty fast.Sad but true.
2.It's no big deal that many companies might lose their license in Estonia.
They will have to move to another country,so I don't think that this would be a "big blow" for the cryptocurrency industry.
3.Estonia is a small country with a population of less than 2 million people.The Estonian market is really small,and most crypto companies currently operating in Estonia are focused on the global market.This means that Estonia isn't important for the crypto industry,despite being one of the first crypto friendly countries in the world.
2723  Bitcoin / Press / Re: [2021-10-09] New York and Texas are winning the war to attract bitcoin miners on: October 13, 2021, 11:12:04 AM
Why does anyone here keep linking crypto mining with solar and wind power?
You guys are focusing way too much attention on the weather in Texas and New York.
I don't think that the weather matters that much.
AFAIK,the electric industry in Texas is not so heavily regulated,so Texas is using more coal burning power plants and nuclear power plants,which means cheaper electricity for the cryptocurrency miners.
New York has lots hydroelectric power,which relatively cheap and sustainable.
I don't think that any cryptocurrency miner is going to use expensive and unstable solar and wind energy
to mine crypto coins.Maybe a small minority of crypto miners will do this,but this simply isn't efficient or lucrative.
2724  Economy / Economics / Re: If printing more money is inflation then why printing more gold is not? on: October 13, 2021, 06:25:09 AM
I guess that OP is talking about gold certificates,not actual gold.
Printing more gold certificates will also create inflation,because it will lower the value of those gold certificates,since there will be a difference between the actual gold being mined and the growing amount of gold certificates.The increased quantity of an asset lowers it's value.This is what creates inflation.
If the quantity to actual gold being mined increases a lot,the value of the real gold will also drop.
The "concept" that printing more money creates inflation cannot be eliminated,because it has been proven multiple times in real life.You can't just "eliminate" a process,just because you don't like it.
You can't tell the people what to buy and when to buy it.It doesn't matter if it's gold or cryptocurrencies.
2725  Economy / Gambling discussion / Re: Poker Tips- what kind of strategies do you use when playing? on: October 13, 2021, 06:03:56 AM
The only winning strategy at poker is to be unpredictable to the other players.
Bluffing when they don't expect and don't always wait for the strong hand.
If your playing form some kind of a pattern,any good poker player can be able to predict when you bluff and when you have a strong hand.Patience is also a key for being successful at poker.
I've never played offline poker in front of other players,so I don't have experience there.I also don't have a "poker face" and I'm not that good at hiding my emotions.
I used to play online poker a lot,but I got bored.Now,I'm starting again. Grin
2726  Bitcoin / Bitcoin Discussion / Re: Cryptocurrency is important for a country? or not... on: October 13, 2021, 05:44:59 AM
Cryptocurrency is essential for the development of a country?
Does cryptocurrency play an effective role in the development of the country? Or does it hinder the development of the country and cause extreme damage to the country?
What do you think about this?

None of the above.Cryptocurrencies cannot play a role in the development of a country,but high technology can definitely play such role.Blockchain technology is high tech,so if it gets implemented in daily life in an effective way,if can help certain industries.The problem is how to implement blockchain technology in such effective way,that will bring benefits for the businesses and citizens of a country.
I have never seen cryptocurrencies to cause "extreme damage" to any country in the world so far.
Can you give us an example of such "extreme damage" being caused by cryptocurrencies?
2727  Economy / Trading Discussion / Re: Bitcoin Futures ETF on: October 12, 2021, 11:18:07 AM
Bitcoin futures are just financial derivatives.The traders,who are trading Bitcoin futures aren't necessarily trading actual Bitcoins.They are just betting on a possible Bitcoin price in the future.
Financial assets,that have a volatile price,like Bitcoin,are suitable for such financial derivatives-futures and options.That doesn't mean that BTC futures will have big influence over the actual Bitcoin price.
With that being said,I couldn't care less about this Bitcoin Futures ETF.
It has been stated many times that Bitcoin ETFs being approved by the SEC will have a positive impact over the Bitcoin price,but we are just fine without having multiple Bitcoin ETFs being approved.
2728  Economy / Speculation / Re: How do you explain the October pump? on: October 12, 2021, 10:53:29 AM
Many traders were expecting the China FUD to dump the Bitcoin price.This didn't happen,which made the traders very optimistic.This can be combined with the positive news coming from the USA,stating that there are no plans to ban Bitcoin.I don't think that the news about Twitter had such an impact over the Bitcoin price.
I guess that the current price pump is caused by a "snowball effect" like all the price pumps before.
Traders start buying BTC,the price goes up,more traders start buying because of FOMO and the ball keeps rolling.This makes me feel that we are in a FOMO phase and Bitcoin price is forming a bubble.
2729  Economy / Economics / Re: The EU takes 9 more jurisdictions out of the Tax Heaven list on: October 12, 2021, 06:48:38 AM
I'm kinda annoyed that something like "Pandora Papers" appears and suddenly everyone gets really angry and concerned about offshore islands and tax heavens.Well,offshore tax heavens exist for decades,but 99% of the people simply don't care about them.Some scandalous discoveries about offshore companies and corrupt politicians appear out of nowhere and everyone gets angry,but after one week,everyone forgets about it.
The global elite would never dump the tax heavens.It doesn't matter if something like "Pandora Papers" or "Panama Papers" appears into the public space.
The 15% corporate tax minimum sounds like a joke.The corporate tax minimum should be at least 20% or 25%.
2730  Economy / Gambling discussion / Re: ⚽ Football Transfers Speculation, Odds and Predictions on: October 12, 2021, 06:22:57 AM

That wasn't surprised me, Conte works for champions because that he leave Inter due to a lack of money to buy the player. But what makes me surprised is they do not want Zidane, even though Zidane's achievement is better than Conte's, maybe Zidane wants a big salary or something. the strongest rumor at the moment is Steven Gerrard and Lampard.

Steven Gerrard or Frank Lampard leading a multi-million football club in the English Premier League?
Sounds like a joke to me.Lampard was a failure as a Chelsea manager.Gerrard is a manager of Rangers F.C.
but I am mot impressed by their performance in the European tournaments.Of course they are still dominating the Scottish football league,which is pretty easy for them.
I've always liked Newcastle United and I wish that they could achieve something big in the Premier League.
I think that Zidane would never lead English football teams.He might become a coach of some Spanish,French or Italian team.
2731  Bitcoin / Bitcoin Discussion / Re: Risk in Crypto Assets Portfolio on: October 12, 2021, 05:58:27 AM

Can we point out the risks that one faces in investing crypto assets based on these:

1. As a retail investor

2. As an asset manager (hedge fund business)

3. As a trader.

I think that the risk is the same for the different kinds of investors,if we are talking about a 100% cryptocurrency portfolio.
Why do you think that the risk will be different for a institutional investor and for a small crypto trader?
If the portfolio is filled with different kinds of financial assets,and the cryptocurrenies are 5% only,then the risk is way lower.The big investors usually have big and diversified portfolios,so the risk of having Bitcoin in their portfolios is lower.A small crypto trader usually isn't building crypto coin portfolios,he is more focused on day trading.A portfolio,which consists of 100% Bitcoin and altcoins is pretty much pointless,because Bitcoin and most altcoins have the same price pattern.
 
2732  Economy / Trading Discussion / Re: Trading algos/bots getting better? on: October 11, 2021, 11:49:46 AM
Quote
I got pulled out of a trade because I put my stop too close to support level which I will take as a lesson, but it really did piss me off being as the price NEVER even went down that far besides just to pull me out of my position.

This is pretty much your own mistake.I did the same mistake,when I started trading a few years ago.
It's really annoying,but I learned to never set my stop loss orders pretty close to the market price or the resistance level.Is trading getting harder?I don't think so,trading always has been hard and it isn't getting easier,especially if you are trading by yourself.
I don't trust trading bots or algorithms.They might be getting better with time,thanks to their developers,but putting all your trust in a bot and thinking that the bot/algorithm will do all the work for you seems pretty naive to me. 

2733  Economy / Speculation / Re: Welcome to Uptoberfest on: October 11, 2021, 11:29:01 AM
Let's move from Uptoberfest into No Drop November. Grin
I can't figure out any other word that can replace the famous "No Nut November" phrase. Grin
I don't think that the bears are losing money right now.There's still a chance for a price correction to happen.
The price increasing from 41K to 55K USD in less than 2 weeks seems like a price bubble to me.This price bubble might get popped at some point.
The traders,who are shorting BTC right now are probably mad,but we the Bitcoin bulls simply don't care.

The most important date is Oct 18 which is the first ETF decision, if it is delayed or rejected there is another one that has a great chance of approval a few days later. Most likely if the first 2 ETFs are rejected then we might see a sell off before November starts. Which is a tricky way of trading since November’s are usually very bullish.

However right now they way the market is trading it seems that ETF has a great chance of being approved and then when it finally goes live in a month or so, that might be the “buy the rumor and sell the news” type of event just like when CME launched Bitcoin futures back in late 2017.

Nah,news about Bitcoin ETF aren't that important.Such news can't help for building hype around Bitcoin anymore.
2734  Economy / Economics / Re: Taiwan invasion - how would it affect bitcoin on: October 11, 2021, 07:00:50 AM
China is calling for a peaceful unification with Taiwan,but Taiwan would never unite with China.
I also don't think that China is ever going to start a war with the USA just for the sake of conquering Taiwan.
There's too much risk and too little benefit of starting such war.
Of course the Chinese will keep "waving the big stick" at Taiwan,while trying to achieve other goals in their diplomacy.We don't know how the USA will react to a Chinese invasion in Taiwan.
I think that any insecurity and concerns anywhere around the world are positive for the Bitcoin price.
Financial assets like Bitcoin usually increase their value a lot in times of uncertainty.
2020 and 2021 are the years of the pandemic and the lockdowns,and the Bitcoin price increased from 10K to almost 60K USD in that time frame.
2735  Economy / Gambling discussion / Re: The UEFA Nations League 2020/2021 Discussion Thread on: October 11, 2021, 06:37:11 AM
As I thought, France will win. The Spanish team has performed very well in the last few matches. Because of Mourinho they are now very stable as a team. There has been excellent bonding between the players. But then the team is not experienced. France is much more experienced than them. And the need for experience in such an important match is very important.

Mourinho?Do you mean Jose Mourinho?What kind of influence does Jose Mourinho have over the Spanish football?He was a coach of Real Madrid several years ago.He hasn't been leading any Spanish club since then.He isn't a national coach of the Spanish national team.He is a coach of Roma right now.
I'm confused by your statement.
Anyway,Spain is building a new generation of young players and the future is in front of them
France,on the other side,will have to rely on more young players in the next years,since Benzema,Griezmann,Pogba and Olivier Giroud will only get older as time passes by.

2736  Bitcoin / Bitcoin Discussion / Re: Reason why businesses should accept Bitcoin payment on: October 11, 2021, 06:06:59 AM
Number one reason for accepting Bitcoin payments should be-Not dealing with banks and payment processing companies.
The business owners will get the most benefits of accepting BTC,when they start using it to purchase goods and services from other businesses.Bitcoin should become a business-to-business currency,also known as B2B.Getting adopted by B2C companies (or business-to-customer) is also great,but the companies will eventually have to convert the BTC into fiat,which kinda makes the whole BTC adoption process pointless.
The price volatility and the lack of regulatory clarity are the main factors,which are stopping mass Bitcoin adoption.
2737  Economy / Economics / Re: Fuel prices hitting an eight year high on: October 10, 2021, 12:03:45 PM
The EU wants a free market is the electricity and gas sectors.The EU also wants more expensive "green energy" and more taxes over the coal burning power plants and other "dirty industries"(which makes their production more expensive as well).If you combine all these factors,you get way higher electricity and gas prices.The "green lobby" in the EU is pretty strong.Nobody can get on their way.
There's no reason to blame Russia.Gazprom has long term contracts with the EU gas companies at a pretty average price of around 300USD per 1000 cubic meters of natural gas.The Russians aren't causing problems in the EU gas markets.
2738  Bitcoin / Bitcoin Discussion / Re: Can China Ban on Bitcoin have any negative effect on Bitcoin in future? on: October 10, 2021, 11:30:21 AM
The only long term negative effect of the China ban is the fact that millions of Chinese people will face difficulties using Bitcoin/altcoins in China.This kinda stops the growth of the cryptocurrency industry,but I'm sure that many Chinese will keep using cryptocurrencies despite the government ban over crypto.
I can't think of any other negative effects.
The crypto industry,that is located outside China shouldn't worry too much about this so called "crypto ban".
Bitcoin gets stronger every time China FUD occurs,so I don't mind if more China FUD is coming in the next weeks. Grin

 
2739  Other / Archival / Re: The beginning of the end of traditional payment processors? on: October 10, 2021, 07:03:20 AM
The fact that 1.6-2 million people started using Bitcoin/Lightning Network in El Salvador doesn't necessarily mean that all those 2 million people will keep using Bitcoin/LN transactions forever.Some of them will quit,others will join later.I assume that many people joined Chivo,because of the incentives provided by the government of El Salvador.Once the incentives are over,many people will just leave Chivo.
I know that the traditional financial services and banks have low ratings in El Salvador,but as the Chivo network keeps growing,more and more people will also leave low ratings to Chivo.
Many of the low ratings are left by confused people,who got frustrated by a situation that was caused by their fault,but they blame the companies,because that's what people do.
I'm not advocating on the banks in El Salvador,but many people leave negative reviews just because they want to,not because the bank scammed them or something.The same thing can be applied for negative reviews left for the Chivo app.

2740  Other / Off-topic / Re: ⚽ Ballon d'or 2021 - 30 Left - 29 November 2021⚽ on: October 10, 2021, 06:41:01 AM
Quote
And the winner is? (probably Messi)

NO,I think that Messi will NOT win the Ballon d'or anymore.
My favorites are Benzema and Mohamed Salah.Karim Benzema is a great player with great contribution for Real Madrid(even though I don't like Real Madrid).
Salah is a top class player,who deserves to win the Baloon d'or.Jurgen Klop said that Salah is at the level of Messi and Ronaldo.
Bonucci is also my favorite.He had a great career in the Italian footaball and he won Euro 2020.
Ronaldo is too old to win Ballon d'or.
Erling Haaland is probably the best striker right now,but he doesn't have any major trophies with his club and his national team.
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