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2901  Other / Archival / Re: The Problem of Environmental Friendliness of BTC Mining...Another Speculation? on: August 06, 2021, 06:41:25 AM
I'm a big fan of thorium nuclear reactors.100% clean energy at affordable price and increased safety+less nuclear waste,compared to the uranium nuclear reactors.
Solar and wind energy are great(still expensive though),but the weather is the big problem.We can't 365 days in the year with sunny and windy weather.
We already know that the FUD about BTC mining is exaggerated,so there's no need to prove that.
Usually all the FUD about Bitcoin is exaggerated,but the newbies pay attention to this BS,so the FUD news keep influencing the Bitcoin price.
2902  Bitcoin / Bitcoin Discussion / Re: What amenities will you have in your citadel? on: August 06, 2021, 06:08:55 AM
Having citadels,fortresses and castles is a wrong strategy in the long term,because sooner or later,an army will put them under siege and you won't have enough resources to survive.Eventually you will have to surrender. Grin
I will never have such citadel,because I can't accumulate enough Bitcoins,so I won't bother fantasizing about the structure of my dystopian(or utopian)society. Grin
Perhaps this time traveler guy is talking about a future,that will happen after 100 years,when nobody of our generation will be alive to witness the crypto citadels.
2903  Economy / Economics / Re: Bitcoin and Keynes Plan on: August 05, 2021, 12:05:18 PM
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Anyway, my point is, Bitcoin can surely become a super-sovereign currency that affects the entire world economic structure in the future. That is based on certain economic theory and that is decided by the characteristics of Bitcoin itself and the trend that human society will become fairer.

The big central banks would probably create a global "central bank coin" rather than adopting Bitcoin as a global currency.
Comparisons between Bitcoin and bancor were made multiple times in the past,but I don't think that the idea of bancor is similar to the concept of Bitcoin.
Bancor was supposed to be a centralized currency controlled by a global central bank.
Bitcoin isn't supposed to be under the control of any central bank or entity.
The US dollar replaced the idea of bancor for several decades,but the Bretton Woods system colapsed in 1971.
2904  Economy / Economics / Re: China - everything is fine! But everything is bad ... on: August 05, 2021, 11:40:44 AM
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And, the further, the more difficult it will be for China to follow the achievements of the Western world, because capital has to move on its own, if not it is not capital, but the party moves. "

I disagree with that.China has very good intelligence and awesome hackers.The Chinese are very good at stealing technology from the west,so I don't think that it would be difficult for China to follow the achievements of the Western world.
China has accumulated lots of capital and it will accumulate even more in the future.A part of this capital might run away from China,but there's still lot's of it.
The CCP will keep it's power and authority in the future decades.I'm not a fan of the Chinese Communist Party,but we can't deny the fact that China turned from a third world country into a global economic powerhouse for about 30 years.
2905  Economy / Exchanges / Re: Coinbase New FUD on: August 05, 2021, 06:07:07 AM
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Now i want to know from you guys is this type of Fud will gain a negative effect in peoples mind about bitcoin? Please share your opinion.

This FUD is pointed towards Coinbase,not towards Bitcoin.The fact that some crypto company has problems and/or committed some kind of fraud doesn't mean that Bitcoin is a scam,fraud,ponzi scheme,bla bla...
The people aren't that stupid and they can distinguish a company from a cryptocurrency.
Every big company is dealing with lots of lawsuits.How many lawsuits do companies like Apple,Amazon and Microsoft have?I'm sure that the number is quite big.Can you mention a lawsuit,which had negative impact over the stock prices of those corporations?

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Fud is now become a common topic in crypto world.

FUD exists since day 1 of the crypto world.Don't you know this?Are you some kind of crypto newbie? Grin


2906  Bitcoin / Bitcoin Discussion / Re: Increasing acceptance level - Cryptocurrency on: August 05, 2021, 05:41:06 AM
Back to the issue of legality and scalability.

Running a crypto-based business in countries that tend to be oppressive or gray will hinder crypto adoption. Even when the crypto adoption level has been high, it can return to zero only because of the government ban policy.
Also, given that crypto transaction fees fluctuate as well as their own prices, efficiency will be a problem for a retail-scale business or service especially if it's in countries with low economic standards. Customers will not actually take advantage of that payment method.

I don't think that the Indian government can control every rickshaw driver in India. Grin
Even if India bans cryptocurrency payments,a vast number of people will still be using crypto payments and the risk of getting caught would be low.The "grey economy" will flourish,until the moment governments realize that banning crypto payments is pointless and legalize the crypto industry under their jurisdiction.
I find it fascinating that people in countries like India,Venezuela and many more Asian,African and Latin American countries are way more open towards new technology,compared to the people in Europe and USA.
2907  Bitcoin / Bitcoin Discussion / Re: Bitcoin videos on Youtube....and a suggestion for our possible BCT channel. on: August 04, 2021, 11:55:16 AM
The bad thing about Youtube is that every content creator must follow the rules of the algorithm in order to get views and clicks(and make money).The algorithm forces content creators to make similar thumbnails and videos,in order to keep high click-trough rate and high engagement.If you try to be different from the crowd,you won't get traffic and views,which is sad.
Another bad thing is that almost all content creators are focused on making money,rather than providing the best possible information on a topic for free.
Let's be honest here.Cryptocurrencies aren't a very popular topic on Youtube.Most crypto videos have several thousand views,which is a really small amount.The crypto related YT channels are really small.
And last but not least,the constant paid promotion of shitcoins makes things even worse.

2908  Alternate cryptocurrencies / Altcoin Discussion / Re: What would you rather buy for the long term right now...BTC or ETH? on: August 04, 2021, 11:23:28 AM
Simple question. Between BTC and ETH what would you want to load up on right now if you could only choose one?

Personally I'd go with ETH, but that's because I already have a lot more Bitcoin than ETH.

Ethereum will never be able to hit a price level that is close to Bitcoin,due to the lack of scarcity.
What's the point of choosing between BTC and ETH,since both the BTC and ETH price follow the same pattern? I would rather choose 100% Bitcoin or a combination between BTC and ETH.
If we try to ignore the technological difference between Bitcoin and Ethereum and focus only on prices and profit margins,I don't see anything that makes Ethereum better than Bitcoin.I don't want to discuss all the DeFI,ICOs,smart contracts,which are built on top of ETH.They all have pros and cons and the pros aren't more than the cons.

Ethereum is preferred over bitcoin. The price of bitcoin have gone high, and I find the price of ethereum to be affordable to buy it as a whole. Also from various predictions ethereum is said to touch atleast $17800 within the next five years time. This is something big out of an investment. This makes me prioritise ethereum over bitcoin. For short term and regular trading purpose bitcoin is the right choice.
4 years ago,I remember some people said that Ethereum will hit 10K-15K USD in the next 5 years.
They were wrong.This is clearly a bold statement and a speculation.
2909  Economy / Economics / Re: Miami will launch its own cryptocurrency and reward users with bitcoin on: August 04, 2021, 05:39:04 AM
This is yet another example of an institution or company saying "We will adopt Bitcoin,but we will create our own coin." Undecided What's the point of creating your own coin,when you have Bitcoin?
This is a marketing gimmick.Trying to get the attention of Bitcoin supporters,just for the sake of shilling the shitcoin/token in the future.Do we really need this?Are Bitcoin supporters that naive?
I know that the Miami major is really pro-cryptocurrency,but I got tired of every new attempt by certain people and companies to show off as true "Bitcoiners" while promoting another token.
2910  Bitcoin / Bitcoin Discussion / Re: As of today, Google ads for Bitcoin are no longer banned. on: August 04, 2021, 05:09:36 AM
That's great,but what do they mean by "Google Ads for Bitcoin"?
Is Bitcoin a company or a product to be advertised? Grin
I assume that they mean companies that work in the cryptocurrency industry and use Bitcoin.
It would be great if all the shitcoin/token scams are still banned from using Google Ads.
Some shady crypto exchanges are using Bitcoin,but they are also heavily promoting shitcoins and tokens.
Are they allowed to advertise on Google Ads?
2911  Bitcoin / Bitcoin Discussion / Re: Can you protect your Bitcoin from market volatility? on: August 04, 2021, 04:48:32 AM
I'm confused.Your thread title is about keeping your Bitcoins from price volatility,but your forum post is about cryptocurrency trading in general.I don't think that keeping your BTC from price volatility and cryptocurrency trading are exactly the same thing.Crypto trading is more about profiting from price volatility,rather than keeping your coins safe from unexpected price movements.
Selling your BTC for stablecoins or fiat is the only option to keep your BTC from volatiltiy.Diversifying your portfolio by buying lots of altcoins and tokens is not a good option,because their prices are volatile as well,and most of them follow the Bitcoin price trend anyway.

2912  Bitcoin / Bitcoin Discussion / Re: Do you think Bitcoin has matter property? on: August 03, 2021, 12:07:46 PM
OP,you should try to win a Nobel prize in Physics or Economy with this theory.Maybe both...
Now why don't you embed Bitcoin in a game theory or try to explain how the universe was created by the power or Bitcoin? Grin I'm being sarcastic...
Bitcoin/blockchain exists as a system,which is based on rules,trust and consensus.Some people are mining BTC,other people are buying BTC,some people spend their BTC,other people are HODLing BTC.
All those people are the main reason why Bitcoin has value.
They trust the system and have accepted the rules of the protocol.
Everything else seems like an over complication of the nature of Bitcoin.
Just go ahead and create an over complicated,hard to understand theory about Bitcoin.I don't mind. Grin

2913  Economy / Speculation / Re: 10 green daily candles in a row on: August 03, 2021, 11:41:47 AM
Even if there's a record of multiple green daily candles in a row,that doesn't matter to me.
Such price patterns are temporary and history has shown that bullish and bearish trends don't last forever.
However,this might be a sign that the crypto traders are becoming more optimistic about Bitcoin.The spring FUD is over and the "summer lethargy" of the cryptocurrency markets might be over soon(probably during September).There might be a short term bull run coming.
2914  Economy / Economics / Re: Bitcoin as a speculative asset or as currency on: August 03, 2021, 07:13:08 AM
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Is Bitcoin still yet a speculative asset or a store of value? I think people will have different opinions about this.
Also bitcoin high transaction fee, is it not related to this? Because the lower the fee the more Bitcoin will fit into the currency category.

Bitcoin is both and there's nothing wrong with that.Most speculative assets are a store of value as well.
The transaction fees depend on the transaction volume.If the blockchain gets congested with many transactions,the fees will go up.We can't control this process and artificially lower the transaction fees.
Off chain solutions like Lightning Network will provide a way to keep the blockchain free from being stuck.
The governments will always want to reduce our privacy,but there are still ways to keep our wealth private.
 
2915  Bitcoin / Bitcoin Discussion / Re: The more popular Bitcoin is, the more valuable it is? on: August 03, 2021, 06:56:39 AM
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If Bitcoin is used to pay salaries, is it necessary to collect taxes?

Yes,it is necessary.Why are you even asking?You can't use Bitcoin for tax evasion.
The fact that Bitcoin is becoming more popular doesn't mean that the Bitcoin price will automatically go to the moon.More people are aware about Bitcoin,but that doesn't mean that they will buy Bitcoins.

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If conditions permit, I would be happy to use Bitcoin for daily payments, but some people have said that they will not sell their own Bitcoins and have been waiting for the price of Bitcoin to rise.

I don't get your point here.You are free to use Bitcoin for daily payments.Your decisions have nothing to do with other people's decisions about whether or not to buy,sell or HODL their own Bitcoins.
I wish Bitcoin to be used for daily payments as well,but it doesn't make sense to spend your BTC,when their price might skyrocket tomorrow.
2916  Bitcoin / Bitcoin Discussion / Re: Why Bitcoin mining isn’t a waste of energy? on: August 03, 2021, 06:31:14 AM
Dude,do you have to write boring walls of text to prove your point? Grin
Bitcoin mining is transforming energy into value.
People,who think that Bitcoin is useless and worthless also think that BTC mining is a waste of energy.
This is opinion,not knowledge.We have to differentiate opinions from facts and knowledge.
If Bitcoin mining was a waste of energy,then nobody would bother buying mining hardware and building mining facilities.
2917  Bitcoin / Press / Re: [2021-07-26]Insider: Amazon plans to accept bitcoin payments in 2021 on: August 02, 2021, 11:50:00 AM
I have nothing against Amazon accepting cryptocurrency payments,but this sounds more like fake news.
What's the point for Amazon to accept crypto in 2021?Why didn't they accept crypto in 2019 or 2020?
If this is really true,I think that Jeff Bezos is going to repeat what Elon Musk did.This is going to be more like
another pump&dump of Bitcoin and the crypto markets,rather than a sustainable project.
At some point the Amazon CEO will complain about how bad BTC mining is,the BTC price volatility and the high transaction fees.We've seen this before... Grin
Anyway,I don't believe that this adoption will ever going to happen.

2918  Economy / Speculation / Re: Drop from $60k to $30k was part of bull run cycle? on: August 02, 2021, 11:21:50 AM
Did this cycle indicator predict the Elon Musk/China FUD,which crashed the Bitcoin price from 56K to 35K back in May? Grin I don't think so...
Those charts are good at predicting price patterns based on previous price patterns,which is a wrong approach,event though Bitcoin is kinda "designed" to move in pump/dump or bull/bear cycles.
Such charts/cycle indicators cannot predict when major FUD news will strike the Bitcoin market and crash the BTC price.The behavior of governments and crypto whales cannot be predicted by any online tool or software.
2919  Economy / Economics / Re: The Central Digital currencies will make monetary policy more difficult on: August 02, 2021, 06:48:03 AM
When a crisis arrives, central banks usually say that they will do whatever it takes to solve it, which usually means ridiculous amounts of money being printed a large amount of debt being bought. The traditional banking system "multiplies" the effect as a result of the fiduciary system (you can lend more than you have).

With the new digital central currencies such as yuan, euro, dollar,... anyone could potentially hold an account on a central bank skipping the intermediaries. I think that this will have a negative effect on the ability to cope with further crisis by monetary policies. The risk should not be ignored.

I don't really think that the central bank digital currencies will make banks obsolete.
Someone will have to evaluate the customers,who want to borrow money.
The monetary policy of the big central banks is getting less and less effective mostly because of the negative interest rates and the increasing levels of globalization.
I don't think that fractional reserve banking will disappear due to CBDCs.Fractional reserve banking can be done with digital currencies."Money printing" can also be done with CBDCs.
I also think that "skipping the intermediaries",like you said,can have more pros than cons,but we still don't know what will happen.
What I don't like about CBDCs is that they are trying to imitate cryptocurrencies.
2920  Bitcoin / Bitcoin Discussion / Re: Is Bitcoin an Investment or Payment form? Has it lost its purpose? on: August 02, 2021, 06:22:57 AM
Currently Grayscale's bitcoin trust owns 654k and the top companies hold 200k, that's 854k bitcoins out of circulation from 21million, not to mention an estimated million more lost. We see alot of bitcoin integrations from paypal, mastercard but is there a public for that? With hour long payment confirmations, I just don't see it as a payment form in everyday life. Has bitcoin turned into an investment wagon or is there still a possibility of it becoming an everyday payment currency?

The purpose of Bitcoin is to be both a medium of exchange and a store of value.
There used to be a time when BTC served better as a medium of exchange,now Bitcoin is more like a store of value.That doesn't mean that BTC can't be used for everyday payments,but the merchants don't want BTC due to the price volatility and unstable transaction fees.
There's nothing wrong with Grayscale owning 654K Bitcoins.
I don't really think that Bitcoin was truly adopted by Paypal.You can't withdraw Bitcoins out of your Paypal account.This isn't true Bitcoin adoption.
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