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3141  Economy / Economics / China agrees to ‘substantially reduce trade deficit’ to avoid trade war with US on: May 20, 2018, 10:22:30 PM
Quote
The US and China have agreed to begin bilateral trade talks, with Beijing committing to “substantially reduce” the trade deficit between the countries by boosting the amount of goods it purchases from America.

 A joint statement sent from the White House announced they had reached “consensus on taking effective measures to substantially reduce the United States trade deficit in goods with China”.

The announcement comes amid fears that President Donald Trump’s tough talk on trade could spark a trade war between two of the world''s largest economic power houses.

The development comes just one day after the US and China appeared at odds over a claim from White House Economic Adviser Larry Kudlow, who said that China had agreed to reducing its deficit with the US by $200bn.

It is not clear exactly how much China actually plans on reducing that deficit, however, and negotiators from both countries reportedly went back and forth through the night as they crafted the exact language of the joint statement, according to the Wall Street Journal.

Mr Trump has remained optimistic that a palatable agreement will be made, and has regularly boasted that his good relationship with Chinese President Xi Jinping is an asset that will help deliver that promised reduction.

“President Xi and I will always be friends, no matter what happens with our dispute on trade,” Mr Trump tweeted last month as the talks of a potential trade war swirled.

The trade deficit has grown recently, and has proved to be a difficult issue to resolve between Washington and Beijing for years. Data from the Department of Commerce shows that the imbalance reached a record high of $375 billion in 2017.

The tough stance Mr Trump has taken on the deficit with China has led to those in some areas of the American agricultural industry to express concern that a potential trade war with China could ravage their businesses, since China is a main trading partner for American agricultural exports.

The statement released Saturday described a cut in the deficit as being mutually beneficial to both countries’ interests.

“To meet the growing consumption needs of the Chinese people and the need for high-quality economic development, China will significantly increase purchases of United States goods and services,” the statement reads. “This will help support growth and employment in the United States.”

The statement says that the US will send a team to China to negotiate the agreement, and included American agricultural and energy exports as priorities.

Those talks could be held as soon as late next week, according to the statement.

Mr Trump set off fears of a trade war by saying he was considering tariffs on up to $150bn worth of Chinese products. That proposal was met with stiff threats from Beijing, which threatened an equal response targeting American exports like soybeans, cars, and aircraft.

The statement did not mention Chinese telecommunications manufacturer ZTE, which was hit with sanctions for violating a ban on sending products to Iran and North Korea that include parts made in the United States.

The president has said on Twitter that he has instructed the US government to consider reversing those sanctions, which were imposed last month and shut down the  company’s operations.

https://www.independent.co.uk/news/world/americas/us-politics/us-china-trade-war-trump-negotiations-reduce-deficit-white-house-a8359816.html

Some sources claim china agreed to reduce the trade deficit by $200 billion others claim the real number is $400 billion. There is conflicting data. More negotiations are in order before the real numbers are known.

Many media sources claimed Trump revealed incompetence by addressing the trade deficit. They predicted a hundred different catastrophes which would arise as a result of Trump's actions. Looks like all of those "experts" were 100% wrong if this does work out in favor of the united states, which appears to be the way things are going. I hope people recognize in the future how our news media often works as the enemy of the people. The media often convinces us to oppose things which are the best for society.

Its nice to see clear headed businessmen work things out without resorting to war, violence or anything drastic/immature.

If nothing else, Trump is showing he is open minded to thinking outside-the-box and considering every option on the table. That could mean he will be open to bitcoin and crypto adoption in the future. This could be good for the US economy. The more money americans have under a healthier economy perhaps translates to more bitcoin being bought. Not certain what crypto implications of this are as of yet.

Good news: The US china economic trade war apocalypse appears to have been averted for now.
3142  Economy / Economics / Re: which fiat is more broken USD or EUR? on: May 20, 2018, 12:40:04 AM
I think EUR is worse off. Many politicians there appear to be doing 100% the opposite of what they say they're doing. The UK might be in good shape considering they opted for #brexit and could avoid negative fallout associated with the EU. Violence in europe is at all time highs. London's homicide rate was higher than new york's for the first time ever, recently:

https://www.usatoday.com/story/news/world/2018/04/03/londons-murder-rate-higher-than-new-york-citys/480860002/

Things are bad in EUR and they will probably become worse as there is no real process of accountability of fact checking for things that are going wrong. I see many falsehoods published by EUR media and its unclear whether or not europeans pick up on the inaccuracy of the news media there.

At least the US economy appears to be doing well now with Trump in office. There is no similar figure or movement for europeans to rally around that cares about improving their living circumstances although some nations like hungary may be on the right track.
3143  Economy / Economics / Re: Best listed electricity company stock to buy on: May 19, 2018, 11:42:12 PM
The thing with these elecricity companies is the lack of expansion

I agree with that in terms of residential energy sectors. The construction of real estate and living spaces in the united states is not keeping pace with population demand. This reduces electrical consumption by a significant factor via producing a higher population density per household (with lower energy consumption) than would otherwise be necessary. It also artificially boosts the value of real estate via it becoming a more scarce resource.

Total number of bitcoin users doubling every 12 months or so is the type of massive growth investors look for in an industry. Electrical growth isn't likely to grow at a pace anywhere resembling that due to some energy systems becoming more efficient over time. Electronics like tvs, computers and other things are sometimes becoming more efficient as time passes due to transistors being built smaller with less electrical consumption. Energy efficient lightbulbs and similar "green" products are also becoming more mainstream which could go some ways towards thwarting the growth options of businesses in the energy industry.
3144  Economy / Economics / Re: Best ways to serve Country Economically. on: May 19, 2018, 11:14:52 PM
In your opinion, what are the best way to serve country economically?

#1 News media has become too centralized and monopolized. In the USA there should be an anti trust lawsuit or a repeal of the telecommunications act of 1996 which allowed the news media to become too centralized under Bill Clinton's administration. There are too many agendas being pushed in the media and too much bias. Example of this is the media's trend towards being anti bitcoin. Better information, more independent news, these things will help the public to be better educated and informed and help them to support the right policies.

#2 The glass steagall act which was repealed in 1999 might need to be reinstated. Better separation of investment banking from commercial banking could produce less risk in derivatives and bank trading producing a more stable and prosperous economy.

#3 State subsidized bitcoin and crypto. State provided investment funding in more objective and fair analysis and media coverage of the benefits of crypto currencies in providing value to economies and neglected demographics.

The list of ways to better serve a nation economically would be long. I think the above would constitute a good start.
3145  Economy / Gambling discussion / Re: UFC FN 129: Maia vs Usman Info and Prediction Thread on: May 19, 2018, 07:59:03 PM
@Hydrogen. Do you have notes on the pretty Alexa Grasso and Tatiana Suarez? I reckon Alexa might be too underestimated for this fight. The odds for her is at +499 now and with only 1 day to go before the fight.

I think everyone is looking for easy fights (past of least resistance) and no one wants to fight Tatiana Suarez due to her accomplishments and athleticism:

Quote
What ranks and titles have you held?
Tatiana Suarez: I was a two-time bronze medalist in the world championships of freestyle wrestling. Gladiator Challenge champion. Ranked number one in the USA at 55kg in freestyle wrestling in 2011, ASICS National High School Wrestler of the Year in 2007 and 2008

I give Alexa Grasso a lot of credit for taking this fight. That shows some confidence and courage.

If Suarez can't get top position on the ground Grasso has a chance of winning. Usually in MMA when one fighter is really good at wrestling/grappling and can take the fight to the ground when they choose, that's often a winning strategy. Especially in woman's MMA where KO/TKO finishes are much less common and a lot of women don't have the right strength and conditioning training to be able to counter a powerful wrestler/takedown artist.
3146  Economy / Economics / Re: The Wealthy Are Hoarding $10 Billion of Bitcoin in Bunkers on: May 18, 2018, 10:28:49 PM
Only reason I see why they mentioned ETH and XRP simple because they are the second and third recognizable crypto.

I always see a steady stream of lies and shady practices being published by reputable websites to fool investors into buying eth and xrp.

I'll give you an example.

Quote
Apple's Steve Wozniak Dumps Facebook And Thinks Ethereum Could Be The New Apple

In the long-terum, however, he was extremely upbeat about Ethereum and described it as a platform that was just like Apple's and could become as influential as his company became.

https://www.forbes.com/sites/montymunford/2018/05/18/apples-steve-wozniak-dumps-facebook-and-thinks-ethereum-could-be-the-new-apple/

Looking at the title of the article and content, they make it seem as if Steve Wozniak is enthusiastically pro ethereum.

This is what Steve Wozniak actually said: "Ethereum interests me because it can do things and because it's a platform."  Woz still maintains one bitcoin and two Ether so '"I can experiment with paying for different things".

Maybe I'm the only one who thinks this but it always seems to me as if people are twisting things people like Steve Wozniak say to push their own agendas and fabricate evidence for perspectives that don't exist.
3147  Economy / Economics / Re: You are using bitcoin charts the wrong way!!! on: May 18, 2018, 10:21:53 PM
For instance have a look at BTC with arithmetic scale:
https://blockchain.info/nl/charts/market-price?timespan=2years

We see a clear bull run end of 2017, followed by a bearish downfall.

And here with log scale:
https://blockchain.info/nl/charts/market-price?timespan=2years&scale=1

However by using the log scale, it looks like btc is following a pretty consistent trend.

What are your thoughts? Is the traditional arithmetic/linear way to view btc prices useless and should we all adopt log scales? Or does using the arithmetic scale have its use?

I would be interested to know how logarithmic scale chart advocates derive useful market data utilizing visual cues. How do they predict future market trends? There doesn't appear to be much real world application to it. It might be good for long term HODL to know up trending price movements override price downtrends resulting in faint upwards movement which suggests price stability and gains. Other than that I don't see that utilization of log scale presents advantages over normal charts.

Log scale would seem to filter out many useful visual cues and data, rather than introduce new data or perspectives which could be useful. I think its a misdirection thing where people switch to log to fool people into thinking it means markets are still rising despite recent downtrends.
3148  Economy / Economics / Re: Court Will Not Seize Crypto as Debt Payment from Bankrupt Citizen in Russia on: May 18, 2018, 10:00:30 PM
This is good news. It may only be a temporary measure until bureaucrats in russia create regulatory guidelines for how bitcoin may be seized under legal means. At the moment, there would seem to be no paperwork to file such a thing and no laws to determine the specifics of how such a thing may be done. All of which will likely change in the future.

The article does not mention how much in bitcoin the defendant was holding. Maybe it was a small amount? In the USA there are things like filing for bankruptcy which limit how much of someone's net worth can be liquidated and claimed by creditors. Not certain if russia has similar laws.
3149  Economy / Gambling discussion / Re: UFC FN 129: Maia vs Usman Info and Prediction Thread on: May 18, 2018, 09:40:46 PM
Notes.

-I'm surprised Jared Cannonier opened as an underdog. Cannonier has faced by far higher level competition than Reyes has. Maybe bookies know something we don't, else Cannonier could be a live dog here.

-I'll go out on a limb here and say Veronica Macedo is a better kickboxer than Andrea KGB Lee is. It doesn't mean Macedo will win the fight if she hasn't done a better job improving her wrestling or ground game. Macedo also could be a live dog.

-Zak Cummings used to fight @ 185 lbs while Michel Prazeres fought @ 155. Cummings could also have a good size advantage (have to check weigh in results to verify) with him standing near 6 feet and Prazeres being around 5 foot 6. The bigger or heavier man doesn't always win. It has been awhile since we've seen this type of size disparity in a fight though.

-Henry Briones also might be a live underdog. Not certain on that.
3150  Economy / Economics / Re: Best listed electricity company stock to buy on: May 18, 2018, 03:18:10 AM
Hi guru,

crypto mining consume electricity,
electric cars consume electricity,

I don't know which coins (btc or eth) will win the games or
which automaker (tesla, or gm) will win the games

but pretty sure demand of elelctricity will skyrocketing in the future.

There is a chance electricity demand won't increase as much as some might expect.

A paradigm shift from gasoline powered cars and diesel powered trucks towards electrically powered vehicles shifts energy demand from oil to the electrical grid. This comes with an energy surplus. Internal combustion engines in cars are credited with being around 15% efficient. Hydroelectric and other methods of generating electricity which are associated with energy grids can be as high as 30% efficient which gives energy produced by the grid roughly two times the efficiency of energy normally extracted by cars and trucks on the road.

Energy produced by power grids are also becoming increasingly decentralized. Rather than relying on state subsidies or big start up costs necessary to build new power plants, there is a significant shift towards people moving off grid, becoming more energy independent via installing solar panels or windmills on their homes. In some states like california they have reported that electricity generation from residential solar panels is so high they actually must pay neighboring states to accept their excess electricity or else they risk damaging their own electrical grid due to an excess of power.

Since bitcoin mining operations can be setup anywhere in the world with a decent internet connection, miners have their choice in terms of where they choose to establish themselves. This flexibility in location translates to miners often opting for hydroelectric power, which is cheaper than coal, in areas where there is a surplus of electricity which translates to lower overall electricity per watt prices.

In a sense, it doesn't matter if bitcoin mining consumes a ton of electricity, generally the large majority of it will be generated via green methods like hydroelectric and industrial mining will typically take place in areas where there is an excess of electricity which will prevent mining from making electricity a scarce resource.

There is a lot which could be said on this topic that isn't being commented on by anyone in the media. I'm only covering the general points, here.
3151  Economy / Marketplace / HTC is building “the first native blockchain phone” on: May 18, 2018, 02:15:31 AM
Quote
HTC is building “the first native blockchain phone,” the Next Web reported on Tuesday. Details are sparse about the phone, which has been dubbed the HTC Exodus. But the news raised two immediate questions: What is a blockchain phone? And why would anyone want one?

Blockchain refers to the decentralized ledger technology that (among other things) underlies cryptocurrencies like bitcoin. The records kept on the ledger are encrypted in order to protect them from tampering or revision, making it possible to keep track of transactions and other data without a centralized authority like a bank. Computers that participate in the network act as nodes, which each have a log of every transaction and can verify the accuracy of this information.

It’s unclear what exactly makes a blockchain phone stand out from a “normal” one. The Exodus site claims that each blockchain phone will serve as a node, and that “we want to double and triple the number of nodes of Ethereum and Bitcoin.” Jules White, an assistant professor of engineering at Vanderbilt University, said that the upside to a phone that’s already configured to be a node is that it would make it easier for people to enter the cryptocurrency market. “The average person is probably not going to know how to download an application to do something with bitcoin,” he said. “So if you had a phone that had it built in from the beginning … it might allow a lot more participation in these cryptocurrencies.”

People can already download cryptocurrency wallets and exchange apps on average, non-blockchain phones, which essentially converts the devices into nodes, but a blockchain phone may have these apps pre-installed.

The HTC Exodus may add an extra layer of security for phones serving as nodes. “The appeal there is not that this is something you can’t do with a regular phone,” says Douglas Schmidt, associate chair of computer science and engineering at Vanderbilt University. “I think they’re trying to do it in a way that has a bit more hardware protection. They mention a ‘hardware enclave,’ which I think just means having a special chip on the device that is able to store your private keys and information in your wallet that would be able to access this stuff in a way that would be much more difficult for someone to tamper with if your phone was lost or stolen.”

The HTC Exodus’ website also notes that users’ personal info will be stored on the phone and not in the cloud. This apparently suggests that HTC will be using blockchain technology instead of cloud servers for data storage. “There are lots of ways you could store data into a blockchain—the jury is still out on whether this is really a good idea,” White said. The advantage, in theory, of storing data with blockchain is that there’s less chance of losing any of the information if a particular device fails, since every node in the network will have a copy. However, the security of such systems is up for debate. White pointed out, “When you write something into the blockchain, it’s essentially a public record that anybody in the network can see and verify. You have to have some other encrypted controls on it, but that assumes that you would never discover a flaw in the cryptography.”

Another possible feature on HTC Exodus could be developer tools for creating applications that take advantage of the blockchain, which are also known as DApps. Indeed, blockchain has various potential uses beyond cryptocurrency or data storage, such as contracts enforced by encryption. The HTC Exodus’ website claims that it will widen the DApp user base.

If HTC is able to get a critical mass of people engaging with the blockchain on its phones, then there is potential to monetize its customers. Schmidt points out that, much in the same way that Facebook or Google sell data on users so that vendors can better target their advertising, HTC could also track transactions in order to gain marketing insights. “My guess is that they’re trying to set up a Venmo-like private network of HTC customers who are using their devices to get access to special deals, like no transaction fees,” he said.

Depending on what features HTC actually equips the Exodus with, the phone may appeal to consumers who’d like some handholding to get involved in cryptocurrency, or for people who are already versed in blockchain and want a secure device that’s primed for app development.

https://slate.com/technology/2018/05/what-is-a-blockchain-phone-why-would-you-want-one.html

HTC's new "blockchain smartphone" looks like a cross between a ledger nano and a smartphone with native turnkey btc node deployment as well as blockchain/crypto currency dev tools, possibly similar to a linux out-of-the-box dev environment. They're keeping that part of things secret for now. Not certain if this is a good idea or a bad idea. Don't know if there's interest or demand for this type of thing. It would be cool if this helped crypto currencies become more mainstream and paved the way forward towards wider mass adoption.

Would anyone be interested in buying or using something like this?
3152  Economy / Gambling discussion / Re: US Supreme Court Overturns a Decades Long Ban on Sports Betting on: May 17, 2018, 11:51:36 PM
I am really confused here, how can Las Vegas have casino's and it is the gambling capital of the world while the rest of the places in the US are not allowed to built them. I understand that different state can have their own rules and regulations. Since there is a lift in the ban of sports betting online sports betting will thrive as most of the online sites stop players from US and now they might lift those restrictions.

Las Vegas has an arrangement near to a centralized monopoly over legal gambling in the USA. There are wealthy casino owners in Vegas who have political clout and money they throw at federal lawmakers to deter gambling being legally recognized on a broader scale. Many US states have organized crime syndicates which run underground gambling ops. They too do not want large scale support for internet gambling for fear that their clientale will shrink if they were able to gamble more conveniently from the privacy of their own homes.

Then there may be other demographics who do not want the US economy to grow or expand from additional revenue and job creation which could occur from states legalizing gambling. The economy of california alone is larger than many european states including germany. If the US economy grew larger & richer, it could gain political influence, become more powerful and perhaps some foreign powers do not want that.
3153  Economy / Economics / Re: Mining equipment sales expected to drop on: May 17, 2018, 11:37:00 PM
To the underlined bit: This is quite different. Wall Street analysts expected the company to post earnings of a certain amount, but the company generally has a much better idea. If Amazon had said it expected to earn $1.24 and then posted $3.27, that would be more on point, but also not perfect since so much more goes into computing earnings than sales, so there's more likelihood of variance. When a company projects sales for the next quarter, it's generally the best indication of what is going to happen since nobody knows their business better than they do. On top of that, Nvidia is not known to sandbag sales numbers (by comparison, Apple is notorious for under promising so they can over deliver in their quarterly reports), so Nvidia's projection of a 2/3 drop in cryptp-related sales should be taken seriously as there's really no better authority on what they're going to sell than they are themselves. Lastly, Nvidia is likely warning about a trend they've already identified. At the time of the quarterly call, the current quarter is half done, so they already have some pretty decent sales data and trends for the current quarter, so when they're saying they're projecting a 2/3 fall, it's probably because they're already seeing the significant drop playing out. It's less of a prediction than it is an extrapolation of what's already happened.

I suspect Nvidia is probably experiencing the effects of what is happening in China as you point out. The drop in investment in mining is likely due to the uncertainty of ever recouping cost if the government is shutting down mines.

Bolded: you're definitely much more savvy than I am on those points.

I was thinking nvidia, samsung, russia and others poised to enter the ASIC hardware market could increase supply and reduce demand. Such could represent a chunk of nvidia's projections. I'm 100% clueless as to when proposed entry to market was supposed to occur, my timeframe there could be off by a significant margin. Perhaps we are witnessing a financial downside to the ASIC market transitioning from what many have labeled a centralized monopoly to a free market with reduced demand.

There has been so much media driven FUD against bitcoin over the past 2 years. Its becoming easy to assume anything negative said about crypto in has an origins story which can be traced back to a lame political agenda.
3154  Economy / Economics / Re: Is bitcoin actually protecting fiat money? on: May 17, 2018, 11:27:39 PM
The biggest threat to fiat money is inflation. Inflation can be cured by injecting wealth into the economy and by that rising enough belief to keep the system afloat. This can be done for instance by occupying foreign countries and by that opening up new markets to the companies that are essential to the economy. Or this can be done by loose regulations with the derivatives markets, that will create wealth out of thin air and high hopes.

Can it be that pumping of the crypto markets is just another financial shenanigan created to keep the old system afloat?
They are creating new wealth out of nothing with cryptos, just like with derivatives. The made up wealth that is created, is actually backing the value of fiat. This would make sense why regulators seem so blind on goxdollars and tether.

Inflation describes a condition where money is printed at increasingly higher volumes. The supply of money inflates causing the individual value of the currency to decline. These inflationary circumstances carry a number of known and documented implications and if it becomes enough of a problem can achieve the opposite of injecting wealth into an economy over the long term. Examples of inflation achieving the opposite of "injecting wealth into an economy" are current era venezuela, hyperinflation of the zimbabwe dollar years ago and germany post world war II.

Occupying foreign nations via military force also typically does not "inject wealth into economies". An example of this is the united states spending more than $6.5 trillion on war in the middle east. Debt and cost liabilities associated with war are typically far higher than any purported value the US economy gained in return. War can often have a negative side effect of destroying markets, infrastructure, economies, jobs and other things which cause economic decline on a global scale. Loose regulations in derivatives markets can have negative side effects. An example of this are leveraged derivatives attached to subprime mortgage assets which played a role in economic issues in 2008.

I for one wouldn't mind if crypto were utilized in a role of helping economies, families and nations stay afloat. It wouldn't matter where it came from if it exerted a positive influence on the world, that would be great.
3155  Economy / Marketplace / Re: Do you wish to have physical notes, coins for bitcoin? on: May 17, 2018, 10:30:41 PM
Making physical notes or coins could be crossing lines of legality. Years ago, a man named Bernard von NotHaus out of hawaii made his own coins out of pure silver and wound up in legal trouble. Its a cool story, NotHaus is similar to Satoshi Nakamoto in many ways. He made his own coins out of silver to create his own money which were backed by the precious metals they were made from(see: intrinsic value).

The government threw baseless accusations at him claiming he was a terrorist.

https://lfb.org/the-domestic-terrorist-you-can-call-a-hero/
https://www.forbes.com/sites/georgeleef/2014/12/09/protecting-us-from-a-terrorist-who-made-pure-silver-coins-the-bernard-von-nothaus-case/

I think NotHaus is still walking free. He wasn't charged. Not 100% certain what the final verdict was and there doesn't appear to be news stories covering it.

Still, even if he wasn't charged, issuing a type of coin or printed money could be cause for legal issues.
3156  Economy / Economics / Square Cash app is growing faster than Venmo, getting a boost from bitcoin on: May 17, 2018, 09:33:15 PM
Quote
Square Cash, the mobile payment app developed by Square, is growing faster than PayPal's Venmo, according to Nomura Instinet.

Since early 2016, Square Cash app downloads have averaged 128 percent year-over-year growth each month versus Venmo's 74 percent, according to a Nomura analysis.

With roughly 28 million cumulative downloads, the number of Square Cash downloads is just 1 million below Venmo's levels, analyst Dan Dolev said.

"Historically, Venmo saw more downloads versus Square, but the gap appears to have peaked in July 2017," Dolev said in a note to clients Wednesday, reiterating his buy rating on the stock.

The app appears to be getting an added boost because it allows transactions in bitcoin, the analyst noted.

"With Square Cash App now open for Bitcoin trading in most states, comparing its growth versus the popular Coinbase app is noteworthy," he added. "Here, while Coinbase saw growth peak around the holiday time — as Bitcoin prices spiked — Coinbase's growth has slowed from record levels, whereas Square Cash App experienced more balanced growth."

Dolev has consistently lauded Square Cash as a potential revenue driver for the payment company. His 12-month stock price target of $65 implies more than 18 percent upside over the next year.

Though Square said it sold a total of $34.1 million in bitcoin in the first quarter, it initially spent $33.9 million to purchase the cryptocurrency, netting a final adjusted revenue of just $200,000.

Shares of Square were up 1.9 percent Wednesday morning.


(Square Cash's stock price is up 168% since rolling out support for bitcoin.)

Despite issuing guidance that fell short of Wall Street's expectations earlier this month, Square has outperformed the broader stock market over the past year, up 57 percent since January and 168 percent year over year.

In its first-quarter earnings report earlier in May, the payments company said it will continue to reinvest, focusing on revenue growth over profit expansion.

"Given the significant market opportunity ahead of us, we will continue to reinvest in our business to drive future growth," it said in a statement this month.

Gross payment volume grew 31 percent to $17.8 billion for the quarter, in line with the growth rate seen in the fourth quarter.

https://www.cnbc.com/2018/05/16/nomura-instinet-square-cash-app-is-growing-faster-than-venmo.html

Here we may be witnessing a small and lesser known corporation called "Square cash" outgrowing a larger and more well known corporation called "Paypal" via offering support for bitcoin. There could be other examples of this. Robinhood financial platform growing at a faster rate than etrade via offering bitcoin support comes to mind.

Based on preliminary data it may be said bitcoin and crypto currencies create jobs, boost economies and provide overall positive effects via creation of value, more efficient and convenient transfer of wealth and transactions in comparison to old, clunky and in some cases obsolete bank equivalents. This effect could carry over to free markets where within a relatively short period of time we have seen smaller and lesser known corporations gain significant ground on larger and more established business entities via offering bitcoin support.

What could be interesting here is if linux introduced bitcoin support while microsoft declined btc support. Could adoption of crypto help linux to grow @ a faster rate and gain market share on msft? Steam also revoked bitcoin support. If there were a competitor to steam which offered support for bitcoin transactions--I would be interested to see what the end result would be there.
3157  Economy / Economics / Re: Buy 1 ounce Silver. End the Fed on: May 17, 2018, 04:14:51 AM
If its legal, I would like to see a website similar to localbitcoins made for gold/silver/precious metals and commodities. A place where people could conceivably trade their gold or silver coins/bullion for land, real estate, cars and other things. If gold and silver were given extra utility whereby more widespread support for utilization in actual markets were available, I think demand for gold/silver would rise and their respective price would rise as well.

It could benefit bitcoin and crypto currencies. Investors who were too afraid to risk capital on bitcoin, could instead feel encouraged to buy gold or silver. In this case, precious metals could serve as a type of "gateway drug" to mass adoption of crypto as things like limited supply which help to reinforce the value and stability of precious metals also apply to crypto currencies to a degree.

More education and greater information being available on topics like precious metals and bitcoin cold only benefit the public and consumers having more options to pay for things via the introduction of broader support for precious metals could help the average person to better comprehend economic and financial policy which could lend greater support towards crypto and areas where it is needed the most.
3158  Economy / Marketplace / Re: Do you really care if your data is exploited?? on: May 17, 2018, 04:05:35 AM
do we really care if our data is exploited?

With huge scandals like Facebook and Cambridge Analytica, this issue is brought into the lime light. I'm really curious if you guys care or not

I don't care if my data is exploited, I'm likely irrelevent within the grand scheme of things.

There is a danger in state's having too much surveillance. I'll try to give you an example. Let's say a government decided bitcoin is dangerous and decided to target bitcoin developers or miners. They could use surveillance networks to leak data on pro bitcoin supporters in order to wage an smear campaign against them. This could sound farfetched but similar things have happened in the past. An example of this is the IRS targeting conservative groups and occupy wallstreet in the USA for political reasons:

https://en.wikipedia.org/wiki/IRS_targeting_controversy

In theory, state surveillance is supposed to be utilized towards things like cracking down on spying by foreign nations. Countries like china are known to steal trillions of dollars in intellectual and copyrighted property from countries like the USA. This is the type of thing state surveillance is supposed to prevent. But in the real world, surveillance seldom appears utilized for the official reasons claimed.
3159  Bitcoin / Bitcoin Discussion / Re: Steve Wozniak: Bitcoin is mathematical on: May 17, 2018, 03:42:04 AM
I like Wozniak's arguments for bitcoin being better than gold or precious metals.

He said something along the lines of: "people will inevitably develop better and more efficient methods to harvest gold from the earth. More gold will be mined as time passes and technology progresses. The rate at which bitcoin is mined however will remain constant no matter how much technology progresses, which makes bitcoin a more reliable and stable store of wealth than gold".

There's a lot of very smart things being said by Wozniak in the interview he's quoted.

Wozniak also is the only techie I know of who built the hardware and wrote the operating system for a line of computers. As with the original apple computers, he's that talented. Woz is very underrated.
3160  Economy / Gambling discussion / Re: UFC 224: Nunes vs Pennington Info and Prediction Thread on: May 17, 2018, 12:23:00 AM
Megan Anderson is very tall for the 145 lb woman's division @ 6'0.

Its been said by many weight cutting experts that women have a more difficult time cutting weight than men for biological reasons. I'm not certain if Megan Anderson will have enough physical strength to cut weight and compete with the better athletes in the UFC. Its possible Cyborg's frame and body type at 5 foot 8 are ideal for that weight division.

Invicta fighters usually aren't paid enough to train to their full potential. Megan Anderson should face an increase in competition when she steps into the UFC. I'm very interested to see how that goes for her.

Too bad Leslie Smith will never likely fight in the UFC again. I thought she might have a chance at contending for the title if she worked on a few things.
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