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3021  Economy / Gambling / Re: Warnings! A new wave of attacks on renowned casinos. on: August 08, 2019, 04:16:12 PM
So essentially a phishing attempt with a really good looking site, you just need to remember the correct domain. I suggest you use a password manager that fills in your user names and password. This would not auto fill or prompt on a phishing site, this gives you a heads up and if it's generated let site you'd have to go into your manager to grab it.
^ That is an easy way to heads up that always remember the domain name or much better to bookmark the website. Nowadays there are a lot of scammers waiting to a noob one that the target to be fooled by them. Always check the URL when clicking a website even a casino that lure people by having giveaways to click you a bait website as OP said. Nevertheless, we should be careful about those PM'ed links that look suspicious.

Indeed, with most passwords managers you get the chance to store the url as well, so you can actually open the site FROM the password manager (which simply passes the argument to your browser).

Phishing attacks are on the wild, and people should be double careful. Also, never, ever repeat passwords, one more reason to use a password manager with a very good password to open it, preferably from a secured os/pc. Can't stress that enough, windows won't cut it. Go linux or bsd, that and the usual browser (ie. chrome) works for 90% of internet users out there.

A good password manager is not paid, and is NOT an online service, but a free and open source program you download, such as: KeepassXC.

Do NOT use anything that requires you to login to an online site as password manager, much less something that demands a subscription fee.
3022  Bitcoin / Bitcoin Discussion / Re: The Best Symbol For The Satoshi on: August 08, 2019, 03:46:15 PM
Oh, i have said this before, anything beyond satoshis and bitcoins is useless, especially mBTC
Anyone in any country that uses the SI-system understands what mBTC means. It's still my favourite unit: not too big, not too small. It's closest to euro/dollar in value, and thus very convenient for "daily" amounts.

My country is SI based, i use millimeters all the time. Its not about figuring what it means, its the inconvenience of it. 1€ or 1$ might sound convenient to YOU, but you forget those 2 coins also have TWO decimals. This is where all this discussion came about in the first place: 1¢ as in cent, which happens to be the unit before the mili, as in centimeter.

If you wanted to be SI compliant, you would have to use the word 10 nano bitcoin, which is much longer than saying 1 satoshi. OR you could say a 0.001 micro bitcoins which is the same garbage as mBTC.

There is ZERO inconvenience in sticking to satoshis. But there IS is you use mBTC, you force people to ask one or two questions: How many Satoshis is that, how many decimals that was. AND, you are using reasoning that will become moot over time "that it looks like €", because bitcoin price will remain forever locked to the €... So what are you going to do if bitcoin price goes 100k or 500k?

The mBTC was proposed as a BIP and i totally reject it. Only bitcoin or satoshis is enough, for now. If they ever expand to 16 decimals, another one will be needed. Even the one being used by LN which is 12 decimals might need a name...

But not mBTC, that has no place anywhere, it only creates confusion, i recommend anyone to avoid this.

At this time, you need about 150 million of my country's fiat to buy 1 bitcoin. We are no longer on par with satoshi, that was last week. This week you need one and a half bolivars to buy 1 satoshi. Everything in the street is expressed in those prices, things normally cost 10 thousand or 100 thousand, it is perfectly normal and easy. 1 bitcoin is 100 million satoshis, or 150 million bolivars.

Hyperinflation is always used as text book example of economies that would switch to bitcoin. But in reality we would be working with the satoshi, as 1 bitcoin looks incredibly impossible, when a monthly wage here is perhaps 25000 satoshis. Some of you euro people probably earn a quarter or half bitcoin in a month...

That joke coin is even better than our fiat. Game money, such as that from games like WoW is far more valuable, and that has no blockchain or protection of any kind, its pure printing worse than fiat. Anyone living here that doesn't manage to get any income in any foreign currency, is in trouble as the "socialist" State isn't going to save you by giving you some left overs once a month you are supposed to eat from.

3023  Other / Beginners & Help / Re: Tether-bitcoin on: August 08, 2019, 02:59:19 PM
Thank you all for explainations and links.however its not easy to understand completly.for example, we know there wlll be 21 m bitcoin.if we are talking about btc/usdt and if there will be more tether than 21m what will happen? This is literally inflation.plus there are many stable coins not only tether.

You are incorrect. Tether cannot harm Bitcoin in anyway, no matter what they do. The same thing was brought by certain someone in another thread, but using fiat instead of an inflationary altcoin.

Tether can "print" all they want, but they would be unable to buy bitcoin in the same fashion as they print, because every extra Tether created and used to buy those bitcoins will cause the price (in USDT) to rise. There is no way around it, they just can't, no one can.

Also, do not fall for Tether lies. They are using fractional reserve, try to research a little on that, its what banks do. Hint: Its the sole reason banks can go bankrupt. A bank with full reserve, can never go bankrupt.

This should give you the hint: Tether can crash, hard. Bitcoin won't be affected by that.
3024  Bitcoin / Bitcoin Discussion / Re: Hey Tomorrow ask your boss if you can be paid in bitcoin. on: August 08, 2019, 02:28:04 PM
And get jailed  Grin
In my local, any kind of activity related to BTC is illegal. Before 2014, there was no law about Bitcoin, but in 2014, Bangladesh Bank applied a rule and asked people not to do any activity related to bitcoin. For doing so, one may get jailed and/or a fine.

Well you belong to that oppressed small group of 15 oppressed countries. In there you have no choice but to trust your friends only, or trust no one and stick to online activities preferably avoiding local transactions completely; with proper protection (Use Tails).

But, you should campaign and join/start an awareness movement of this misguided policy, that is only turning wealth away from your country.
3025  Bitcoin / Bitcoin Discussion / Re: Can Bitcoin Save Investors? on: August 07, 2019, 11:58:00 PM

- The white house freezing Venezuela government assets in the US and the LBC trading volume increased in the country

and voilà! 30% easily Grin
The gold chart is also ringing the bells by the way

As for saying Bitcoin can save investors, I'm not sure if we can say it because the risk is still here

That could only result in slight bumping of oil price, but not by much. Venezuela has lost its production due to mismanagement over the past few years, its currently under 33% capacity at best guestimates. Losing Citgo is pretty much neutral at this point, as Citgo was mainly buying non Venezuelan oil anyway and pretty much running in red, subsidized by Venezuela. The rest is the politicians ill gotten money and properties.

This has probably zero impact in the global economy, not even in America's economy, unless you think Citgo is THAT important. Well that should teach Maduro giving Trump half million dollars (using said company) when he was elected. Fool, less thing a rich man wants is even more money, especially dirty money, serves them right.

Bitcoin can save investors, like many more assets can. Thing is, being smart about it and knowing what they are getting into. If you flee to gold after everyone else had, meaning high price, it make take years to recover.
3026  Bitcoin / Bitcoin Discussion / Re: An INFURIATING example of why we NEED Bitcoin on: August 07, 2019, 11:41:22 PM
...

I asked her when I can expect IT to reach out, and her response was "within the hour." (Spoiler alert, that didn't happen)

The next day, I was finally able to send a wire transfer, but it should NOT have been so damn difficult!

You know what system doesn't try to tell me what I can or cannot spend my money on, doesn’t go down, and send transfers waaay faster than “0-6 business days”? Bitcoin.

Paypal, Western Union, watch out - your incompetence will be your downfall.

And here there is people that can't bother to wait a mere 1 hour for a transaction to complete. Again, there is no reason to use anything but 1 sat/B for most bitcoin transactions. People CAN wait a few hours, or even an entire day. STOP saying bitcoin fees are expensive, and LEARN to use manual fees already.
3027  Bitcoin / Bitcoin Discussion / Re: If they can print unlimited fiat, can they just not buy up all the bitcoin? on: August 07, 2019, 11:34:54 PM
First thing is that, they can't just print money every time they feel like printing it. They have to keep the balance and they won't print too much money because the money will loses its value. And the government are the one who prints money, and some governments are not into bitcoin and crypto, so why would they print too much money just to buy bitcoin?
WTF, the government does NOT print the money. The Federal Reserve is no more Federal than Federal Express. It's a privately owned bank and what makes you think these criminals have to keep a balance? The Federal Reserve has NEVER been audited!

I see we have one person with a brain, all the rest be like "It will devalue their currency"  SURE IT WOULD IF IT WAS ON THE FUCKING BOOKS THAT DON`T EVEN EXIST FOR THE FED

If I am Mr Banker Man Sam, I print $1000 out, the rest of the world does not know about it, how the fuck does that make the price go down?, the rest of you are still trading $1 for 3 apples, I JUST HAVE $1000 NOW TO BUY A BUNCH OF FUCKING APPLES FOR FREE, god these comments are so god damn delusional.

HEY TAKE YOUR HEADS OUT OF YOUR ASS, DUMB FUCKS, YOUR KIDS ARE $LAVES BECAUSE OF HOW FUCKING DUMB YOU ARE.

Because as somebody else pointed, that fiat enters circulation. You think my garbage gov is keeping books or showing them to anybody else? No. Did the VES kept at its value? I think it has lost 99% value in the last 11 months, and its not even one year old. Its already 1.5:1 against satoshi, you need 1 and a half bolivars to buy 1 satoshi. This coin last year when it started, was able to buy 700 000 satoshis with that same bolivar, so from 1:700000 to 1.5:1 in 11 months...

Those running the GOV, have the exact same thinking as you, that they could "somehow" remain unnoticed and stretch the budget endlessly. but NO, they can't. That extra fiat enters circulation and things rise in price, faster than they can imprison anyone rising the prices. Have you read this book? You should: [utl=https://mises.org/library/forty-centuries-wage-and-price-controls-how-not-fight-inflation]
Forty Centuries of Wage and Price Controls: How Not to Fight Inflation[/url] (its free). You will find there that, your idea isn't new, to say the least...

You have not lived it, that is why you still think its theoretically possible. IT ISN'T. If they don't print the money they can't buy it, if they print it, inflation starts the moment they use it. There is no way to cover it. The USD is a bit exceptional because most countries in the world compare against it, so what do Americans compare against? Gold? €? But even them can't go beyond certain point. USD is not invincible, print too many and it will do the same...

Besides, even if they magically bought all the existing bitcoin, what about the coins in your and my possession? The price would soar so high for those that they would need to spend all the money they just spent just attempting to buy the available ones. And some will always remain beyond their reach. But of course they would aim for 51% to pull that other trick.
3028  Economy / Gambling discussion / Re: Fairlay withholding my BTC for currently no real explanation on: August 07, 2019, 05:00:51 PM
Fair Warning: I've posted on a few other forums, but seems like this is one that Fairlay actually responds to, so apologies if you've already seen


I’ve been an established user of Fairlay for the last 7 months, VIP level 5, and have generally had a great relationship with them (even reporting bugs several times and also suggesting site improvements that were implemented)

Around 12 days ago, I submitted a deposit and it was not credited to my account, I had been using the site consistently day to day for the months prior. I reported the issue and what seemed to be a bug, eventually they said that my account was flagged.

My coin is all legit, never used a dark site in my life, I always bet so no question of money laundering (the only scam I’ve seen reported was bc someone was depositing and not betting), and no funny business in terms of betting. Also my most recent deposit was straight from an exchange so, I know specifically there’s nothing wrong with that deposit. Additionally, it feels especially questionable as they could have warned me before I deposited and locked up my money if my account was flagged, this way it looks like they intentionally were trying to wait for a next deposit.

They stopped responding to me over a week ago, and they’ve never told me what I’m getting flagged for, which is the worst part. All was said was that an “external party” flagged my account. That in itself is questionable, how could a third party even be involved? I’ve been patient, I’ve offered to help, and I’ve done everything they’ve asked (they asked for a number to reach me). I hate blasting them, and have waited a long time to do so to give them a fair chance, but it’s looking increasingly like nothing is happening so I’m trying to lever pressure for at least a response or explanation.

Any help or advice would be greatly appreciated. I am so very confident that I did nothing to violate their terms and conditions, and they seem to be violating clauses in their t&c and faqs themselves

Well you say they "respond here", so where is their official thread? Usually most gambling sites open their own official thread. I did a quick search for Fairlay here in the Gambling area but nothing came out, what is the name of their site again?

Do try, in fact, remove; any copies of this post. If you have done cross-posting, you might get yourself in trouble with the forum. Stick to a single post about this matter in a single place. Maybe here or in Gambling Discussion if this is a gambling site. Otherwise service discussion i think. Cross posting not only does not make your message more read, it might in fact trigger mod reaction and you will get the opposite effect. Don't say sorry, just don't do it, you already know its bad.

I would also like to know why you are flagged and what "third party" system is in place for flagging people. Authorities? Is there a database somewhere of stolen coins exchanges and casinos are diligently checking funds against?
3029  Bitcoin / Bitcoin Discussion / Re: I have a Dream... on: August 07, 2019, 04:47:06 PM
Other countries are already active on making cryptocurrency as a real medium of exchange and im here sitting, patiently waiting for some restaurants, groceries or bars that would offer crypto as payment. Im not ranting about this either, atleast the country is still not banning bitcoin although it has a silent treatment with it.

I don't think so. My country is the text book example of a country that should have abandoned fiat and moved to Bitcoin, and yet is has failed to materialize. Efforts for promoting crypto are pathetic at best, despite a few news you might read about here and there, reality in the street is that is 99% non-existent.

Elsewhere i explained that what people do is keep the crypto but at the last moment exchange the absolute minimum required. Some people still do that with fiat from other countries, mostly USD, and a few merchants do accept those fiat directly; certainly more than Bitcoin or any other altcoin. No one came campaigning for Bitcoin, but a few altcoin events have taken places, which is why you may werdingly see a "We accept Dash here" in a mall where you won't see a single Bitcoin accepted sign. Needless to say, 0 clients actually bother paying with Dash, once they calculate the exchange rate they get ripped off, so its better to stick to: exchange into fiat (yes, even from Dash). I haven't personally ever bothered with that coin, but i at lease made a couple of real transactions directly in Bitcoin. In one occasion, i was able to buy a GPU card, paying 1 sat/B as fee got confirmed in one hour, picked up the item the same day, where normally using fiat it would take AT LEAST a couple of days for the seller to confirm a bank deposit. No, you can't use our garbage fiat to buy things, because banknotes are very scarce and the biggest one isn't even worth 4 USD. When you attempt withdrawing cash from a bank, you are only allowed a SINGLE bank note per day, so think, about 4 USD in cash.

That's what you get with hyperinflation. Again, text book example...
3030  Bitcoin / Bitcoin Discussion / Re: Will China Accept Bitcoin As A Currency? on: August 07, 2019, 04:20:24 PM
China will definitely accept bitcoin, but hardly as the main currency in the country, because their goal is to make the yuan a world currency

Indeed but they won't make it, because Bitcoin is here. Their aim with Yuan is replace the USD, as in, why it is the Americans that can print unnoticed and not us? Of course its not really unnoticed, but its true that the USD has some sort of unfair advantage. However, Yuan or any other centralized fiat is not the answer. Bitcoin is.

Their coin was already accepted by the IMF, and its quite strong among the fiat coins (which are all garbage in my opinion anyway, but of course none can surpass ours in that Smiley)

So i think first they will lift the ban and add heavy regulations like many other countries do, and perhaps in some decades accept it more. China will probably take longer due to their political system. but even within their communist party, there is a generational change. Some people in there will get it.

US Tradewars? That is ending with Trump, and Trump period ends either next year after 4 years more. Unlike my country, where any moron with enough power can nail itself to the chair and condemn the people to endless misery unchallenged (and concentrate all the power because no one can challenge them after the fact).

By either 2020 or 2024, the Chinese will be more open to Bitcoin, even if they lauch their own "crypto". Main reason is that they probably won't make their own coin decentralized, because if there is something socialists are against, is decentralization. They want everything controlled from a central power. But China knows better than anyone how bad that turns out (see famine under Mao).

IF they make a coin nearly like Bitcoin, or a Bitcoin clone, then things could be a bit more challenging. Indeed any country could take Bitcoin, and just rename it and make it theirs. Litecoin and others isn't too far from that, or most altcoins for that matter. Everyone thinks Bitcoin has a problem, and they change it with what they see as the "solution". But perhaps there was never a problem in the first place, OR, the problem is there but the solution is overkill and ended weakening another crucial area.

But so far government issued altcoins has not been any better than most other altcoins, in fact, so far, they have been worse than the average. Thus they fail to attract the attention of the people, who find themselves more inconvenience than just sticking to the government issued fiat. Or go straight to the real thing which is Bitcoin anyway they can.
3031  Bitcoin / Bitcoin Discussion / Re: I have a Dream... on: August 07, 2019, 02:56:22 AM
Another step has been taken at Spar Supermarket in Arnhem city, Netherlands. You can buy groceries and pay in Bitcoin over Lightning Network...



OP updated.

That sounds great. Now what (mobile) wallets are able to use the Lightning Network?

I am personally waiting for Electrum to implement it in theirs.
3032  Bitcoin / Bitcoin Discussion / Re: Will China Accept Bitcoin As A Currency? on: August 07, 2019, 02:50:41 AM
Well i hope they see the light, but i'm not holding my breath... Perhaps in a decade, as one of the poll choices suggests, when its obvious that "everyone is doing it" besides the "ban".

China is one of the largest users of Bitcoin in the world, if not THE largest. Most of the major price fluctuations come about by the time "China awakes", not when America awakes...
3033  Economy / Gambling / Re: 🌟🌟777Coin🌟🌟 ✅ Many Games! 🂡🂫🎰🎡 ✅ Progressive Slot Jackpot!💰 ✅ 5+ years on: August 07, 2019, 02:16:23 AM
Moreover, 777coin's owner, lightlord, is one of bitcoin donators, and has good trust history. 777coin has same owner of BitVest, and these two sites are both big, attractive, and reliable gambling casinos. Recent weeks, BitVest released its new game, KENO, so I wish that 777coin will release its new game (s) in coming months, to prepare for market explosion next year. Gamblers need time to play and familiarise themselves with new game(s).

777coin is the older brother of bitvest but IMO bitvest becoming more popular than 777coin. As we can see, bitvest keeps on updating the site regularly and lightlord also do regular update on the ANN thread but I can see it on this 777coin ANN thread. I don't not even really remember when the last update of 777coin, there is also lack of promotion here unlike Bitvest that has regular promotion through its rainbot. Hopefully it is only my feeling but I think that 777coin is like a forgotten site since Bitvest came few years back.

Do you think he is putting more attention to Bitvest? Which one should be preferred then? I was wondering if he should just merge both sites or do they have different aims? What are the differences from Bitvest and 777coin?
3034  Other / Archival / Re: Elon Musk knows that a LIPO battery rupture causes a massive fire... on: August 06, 2019, 05:15:35 PM
look at the video on youtube... or fire an AR 15 into a battery pack (LIPO) and stay away, first it's gaz, then it burns...

and musk knows it... what a bastard, just to do threesomes... lol.

everything, they pimp, is "evil" at its core...

the electric tank will not be on lipo Smiley.

No they are LI ion, do LI ions not catch fire? Of course they do, they designed the thing to withstand and delay the fire long enough for the people to exit the car, and this has happened in all non fatal accidents. You are at risk when you hold a smartphone in your hand or next to your head all the time.

It is a massive concentration of energy in a rather small space. What else did you expect?

I have seen efforts to use different materials to harness the energy, Lithium combined with different things for various reasons. But hey, people are used to sit in cars full with fuel tanks that burn (controlled) in front of them. You are not going to say that doesn't catch fire do you?

Even is LIPO doesn't catch on, something else will. I understand that Lithium Polymer is actually better and safer than LI Ions currently in widespread use.
3035  Other / Politics & Society / Re: So Hal could see the computer was being used as a weapon against us. on: August 06, 2019, 05:00:31 PM
Computers are tools, they are not doing anything on their own. Just like money, and weapons; its the people using them or programming them that make a difference. You cannot blame it on the machines themselves.

You could extend this to media and many other things, they are truly neutral. A weapon is designed to kill, but you are not supposed to take it and use it to just kill anyone. It however could save your life from someone wanting to kill you...

So it goes both ways. You could go Amish and see if this helps things change or not. Like the Luddities of the past tried to fight machines and the industrial revolution by themselves. You have the freedom to stop using computers, but you would probably have to say goodbye to crypto and this place.
3036  Other / Politics & Society / Re: Mega Yachts: The Latest Craze For Billionaires on: August 06, 2019, 04:47:47 PM
I know if I had 106 million, there would be 0 homeless in Cali and LA


I know I would have a fuck load of people with houses now, food and water that could work for me building more of the self sustaining houses for others and by the end of it we would all have backups.



106 million of golf my dood, what the fuck is that?

No TimeBits, once again you think naively this (socialism = forced redistribution of wealth) would work, it doesn't.

give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime

Problem with socialism thinking, is that it always looks beautiful in the theory. Why are the poor hungry, why don't you let them eat cake? As the Portal game writers correctly pointed out: The cake is a lie...

Lets bring your fantasy to reality. What if you give each homeless a home, what happens next? A worrysome percentage of them would sell them for cash, and go back to the streets!

I have seen it here, under a socialist regime that threatens you with prison doing so, and yet people do it. Its "legally" impossible, and yet it happens... As many many many foolish things that occur, and occurred in former socialist countries.

IT DOES NOT WORK.

If you become a billionaire, think of ways of advancing the world. As many posters have correctly pointed out, charity is but a temporary relief that gets quickly burned away without actually solving anything. You have to bring something that changes the conditions of life, such as ways of improving their economy so they don't depend on you in the first place. Could be something old fashioned and selfish like starting a business in that country nobody else wants to, giving jobs, maybe transferring intellectual property etc.

Pay attention to the likes of Elon Musk, his company Tesla designed one of the most efficient electric motors, and used a defensive patent to release it for anyone wanting to use it (very much like free and open source software). He also happens to have a vision to move humanity to electric cars and even go multi-planetary, while most rich people simply burn their riches until they die and their kids waste it all (unless the State seizes most of it first because of "reasons").

One could argue that billionaire gave to jobs to the Yacht builders and all its related business... Did he order the ship to be built (or bought) in a country desperately needing money? Even that subtle thinking helps.

If the State intervened so that no rich man could ever choose where they can spend their money, there won't be any Elon Musks advancing anything. The State is incredibly wasteful and quite often corrupt. No better way to have money burnt into nothingness that handing it to the State.

It is correct from you to bring to the public attention of how shameful they should feel wasting money in yachts, public opinion is important, but you have to respect their choice of remaining to be selfish anyway, else you enter the path of socialism, where private initiatives disappear, and State initiatives simply never come. There is always more important to do, such as feeding the poor, or giving them homes... Of course if the State gives you everything, there is no need to be bothering with work, beyond whatever is minimally required to "look" good. Besides, even if you made it rich somehow (impossibly) that State would seize it in the name of the revolution anyway, so why bother?

I hope you come to realize what kind of society this produces. You could take a look at history...

Not saying selfishness is good, or capitalism perfect, far from it. But solutions won't ever come by force, never forget this every-time you think forced redistribution of wealth would "fix" anything at all. People has to chance by themselves and on their own will, not against it.
3037  Bitcoin / Bitcoin Discussion / Re: If they can print unlimited fiat, can they just not buy up all the bitcoin? on: August 06, 2019, 04:07:10 PM
Hey, If they can print unlimited fiat, could they just not buy up all the bitcoin?

No they can't. The moment they start doing this, it will rise the price of Bitcoin, but mostly because their fiat goes down the drain. Look at my country, 6 years of infinite "printing", and its now one of the poorest in the world thanks to that policy.

IT DOES NOT WORK.

You propose as "solution" to do the same, but you cannot be more wrong. The solution is actually what Bitcoin already is, a finite supply. Or why do you think no single entity owns the entire world's gold reserve?

Some people with naive socialist thinking, believe the market can be easily manipulated in this fashion, yet they always find the hard way that no, it doesn't. Their problem is they see the market as "unfair" and believe their direct manipulation can "correct" this "unfairness". In reality, any type of State intervention produces an even worse unfairness. The State is simply another big entity trying to manipulate things, but failing to do so. Implement policies, prosecute people, they can't stop it. Market will rebuild itself and reroute around any obstacles, just like Bitcoin does in countries where its "banned".

All of human history is filled with markets, and people foolishly (monarchs and other autocrats) trying to control them, resulting in utter failure always.

You see, the moment new fiat appears out of nowhere, the price of the thing you intend to buy has already changed.

Furthermore thanks to the infamous 51% attack, the goal isn't even to buy all bitcoin but 51% of it, and yet no entity has managed to do so, and never will.
3038  Economy / Speculation / Re: BTC movement after today flash crash on: August 06, 2019, 03:37:21 PM
Hello,

what do you think after today flash crash of BTC from 12300 to 11600. Will it get back on bull trend and get over 12k again or will it slowly fall back to 10k?

I am really tired of these crashes. It is not first time I went from profit to huge minus just in few minutes. I cant understand how this can happen.

S.


I don't get why you use the word "crash". Its a simple correction, or even less that that, a little fluctuation. Did you know that would be like 5%?

In economy "crash" is something really catastrophic, not 5% but like 95% value loss. Stop using this word anytime you watch a simple fluctuation downwards.

the term commonly applies to steep double-digit percentage losses
I am really tired of people like you calling everything "crash".
3039  Economy / Speculation / Re: Reason for the current BTC bull run on: August 06, 2019, 02:50:46 AM
According to my humble opinion, there are 3 reasons that lead to the current Bitcoin Bull Run:

1/ US Stock market: the US stock market has experienced strong growth over the past few years and may now be at the peak and unpredictable, the complicated trade war between US and China is confusing many investors, investors are even more uncertain about the long-term stability of stocks, so they are thinking about the other profitable investment tool, which is crypto and in the short term - Bitcoin, bitcoin is now widely known, it also has a US stock market derivative tool, bitcoin's inflation percentage also falls cyclical and more importantly its expected interest rate for a long time is quite attractive for adventurous investors, those factors will create interests for America investors in investing BTC.

2/  Miners: we all know that Bitcoin halving is very near (less than 1 year) and roughly 17 mil bitcoins have been mined. This made the demand of BTC increased. One other reason is some big mining company is preparing for US IPO (i.e. Canaan Creative), so they need to keep the BTC price high, then they can sell more mining device

3/ The need of USDT from Chinese: Since China government is issuing strict capital control measure and also weaken their currency. Therefore, USDT is a very good way for Chinese investors to escape this situation. This added more power for this BTC run.

No i don't think so. The Chinese don't need USDT or any of the others, they are using Bitcoin and perhaps some few other altcoins if only to bypass controls. The Chinese Yuan is currently very strong against the USD (let alone USDT with its "30%" fractional reserve).

Canaan big? Well i guess Bitmain was trying to IPO closer to their home but Jihan Wu went crazy pursuing unneeded things like an altcoin, but who knows with the new guy if they will try again. But i doubt that has anything to do with it.

Your first comment sounds more reasonable. The traditional (flee to) when things look bad are metals, but some investors might be combining with crypto.

I doubt this has really much to do with the "bull run", i think its just the halving expectancy, and nothing more. We had already one and corrected, this might be too early and could go back down again before finally going for the halving run.
3040  Bitcoin / Bitcoin Discussion / Re: China’s Central Bank Prioritizes Development of Digital Currency on: August 06, 2019, 02:38:39 AM
They're obviously interested in cryptocurrency... But most likely, government would create their own digital currency than supporting bitcoin. Of course, it would be a centralized one and will completely control and regulate it.

That would kill it from the start. Hopefully they won't copy paste the Petro fiasco, the Chinese are smarter than that...

Unfortunately it is very hard for a institution, or government to not come with something centralized (garbage). Even Zuckerberg did, being private and all...

But their fiat is already in a quite good position, i see little point for this unless they want to go cashless, and simply want a digital yuan or such. Perhaps some "stable" coin that is backed with the yuan by their central bank.
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