I noticed that every country that experienced high/hyper inflation, the central bank in that country has to print a very high denominated fiat note/bill.
For example in Zimbabwe I see kids carrying notes in their pockets displaying on them $10 Trillion Zimbabwe dollars. These poor starving kids are trillionaires much richer than the richest billionaires like Elon Musk and Bill Gates on the planet on a monetary unit scale.
In the US the highest denominated note bill now is $100.
So the question is as long the highest denominated bill still remains $100 then there wont be any high/hyper inflation worries in the future?
I understand if the Federal Reserve printed a $1000 bill/note then that would be concerning right?
The Fed can print trillions and still print trillions but as long the fed keeps the highest denominated note bill to $100 they they can manipulate inflation in their control correct and keep their $US Dollar still in power?
Bitcoin is a hedge against inflation but if there's no inflation or there is inflation but manipulated to look like there's no inflation then what that will mean for bitcoin?
Hyperinflation happens when the government of a particular country overproduces money just to aid the budget deficit they are currently facing. Whenever the government decides to print excessive money without matching the resources, products, and services offered, we must anticipate inflation soon after. Printing a lot of money isn't always the answer, but most leaders tend to do this without even thinking of the consequences it will cause their constituents and their whole country's economic state in general. Even if the highest denomination bill will remain to be $100, if the government will print so much of it without proper regulation, inflation can still possibly happen. If a country is already experiencing hyperinflation, printing larger denominations would be one of their possible options. However, this could just cause greater trouble since hyperinflation is already existing, and printing additional money with larger denominations won't solve it that instant. All the money they will produce will be rendered worthless as long as there is a huge imbalance going on in the economy. Full dollarization would be one of their best options, but it has so many consequences to be think upon as well. |
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Lately some government have come hard on cryptocurrency in trying to ban activities or stop people from crypto. India and Nigeria have a restriction on their people from freely using or hodling crypto, although that of Nigeria is to crypto accounts in the banks but that is part of restrictions. Now the latest country to come with another policy in line with restricting patronage of crypto is UK. UK BAN ON BINANCEUK is restricting Binance from there service in the UK and warning the people against binance.com. These restrictions looks to me like a means to regulate the activities of cryptocurrency. In my own reason, I think we get this kind of news whenever the market turns bear after a good bull run and the government politicians have cashed out.   This is just the usual news regarding the cryptocurrency community. Government has all the right to decide whether to make cryptocurrency legal or illegal in their country. Limiting or even prohibiting the usage of cryptocurrency is their way of regulating. Restricting the people to excessive use of crypto is one of the way they can think of so that the citizens will switch back to their usual activities and work that could benefit their nation. In addition, I think this is also their way to prevent cryptocurrency from over shadowing their local currency. Because as we all know, bitcoin and other coins are really in demand nowadays and are mostly used by the people as their source of income and investment. Politics indeed play a great role on the status of cryptocurrency on one's country. It can be placed on a favorable side or the other way around. |
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Its been so many years since I learned of bitcoin talk.I was amaze of this kind of currency.satoshi is so bright and smart person.even though we never know him personally and where he is.the bitcoin that he made is so so amazing.thats why until now I am thinking the great things happen in our life to have bitcoin.and now bitcoin was known all over the world.and they using bitcoin already as fiat.thats why I do believe that bitcoin will never be gone anymore.bitcoin will be part of our life forever.
How about you? Do we have the same idea of bitcoin?
The establishment of cryptocurrency bitcoin is indeed unexpected. It has brought many people in awe by showcasing its potential over the years. Who would have thought that the thing that they used to call a form of scam and scheme would also be the very thing to save them from misery, right? Satoshi is indeed very clever to make such a decentralized cryptocurrency which can be used in various forms - store of value and medium of exchange. However, despite the opportunities bitcoin has to offer, it's not guaranteed that it will last forever like what you stated. The chances of having another cryptocurrency that can match what it can do is high because technology and innovation is expanding continuously as well as the skills of the people. Although surely it won't happen instantly. Many factors are still needed in order to surpass bitcoin because it is known to be a legendary crypto. The amount of trust people have for bitcoin is just a whole new level. |
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I started putting 1k into Bitcoin every time it drops by 5k since 60k. And I ran out of funds a little while ago.
The fact that I can’t buy this dip just makes me extremely uncomfortable.
It makes me feel shifty and nervous of the fluctuations. Whereas before I looked forward to it falling so I can just buy.
I guess this is the part where I wait.
I think you are still fortunate enough to hold funds especially in the middle of the pandemic crisis. You must know that patience is vital in investing. Ask yourself, what is your reason the moment you started investing in crypto? Are you in for the short-term or long-term? You need to wait either way. You have to accept the fact that you can't always buy the dip. There will be times that you have to reflect and set aside it for the meantime to set your priorities straight. In addition, fluctuations are normal. I know you are very much aware of that. As long as you have money to buy the things that you need in order to survive, then I guess you're still good. You just have to wait for the perfect time to withdraw some of your funds when the bullish market enters once again or buy the dip again the moment you have another spare money to spend. |
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I must say you really have a big heart for the people who needs kindness the most. Thank you for helping those people in need using your crypto funds. I really admire people like you and I plan to do the same when the time comes. Nowadays, it's really hard to get by especially that we are in the middle of pandemic. I noticed that you started the project last 2019 and decided to continue this June 6, 2021 based on the edit of your post. I respect your compassion to the less fortunates and the courage to walk down the streets handling pizza to ease the hunger of the homeless. We all know that it is still risky to go outside and we should limit ourselves as much as possible because it isn't guaranteed that we will not contact the covid-19 virus, yet you chose to help one of the most vulnerables during this crisis. I hope you'll get more donations and help more people most especially given our situation now. Please always be safe. May your funds start to continually grow. Good job, man! |
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The major factors affecting bitcoin are :
Change in government - it's simply means when another government enter there's will be reduction or addition of some policies.
Political instability - when political system in the country is not stable, everything will get down.
I agree, but let me add and discuss more. Political factor really affects bitcoin businesses and even bitcoin in general. Politics play a great role in bitcoin legality in a country, hence when an adminstration changes, there's also a high possibility that the status of bitcoin legality will be compromised. Same applies with bitcoin business. When the government leader suddenly shifts, and the newly elected official don't like or sees threat on bitcoin or crypto in general, then the business operations will be halted for a period of time. It can even be banned, resulting to serious business damages and losses to the entrepreneurs. Aside from political factors, technological difficulties can be also a huge problem when it comes to bitcoin businesses. Sudden power interruption, loss of connection, slow transaction time, high processing fees, and the likes could cause great trouble in bitcoin business. These could put the business at risk if ever it would occur most often than normal. |
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I just want to see what the general consensus is about selling Bitcoin. The well-known Bitcoin advocate, Mr. Michael Saylor, has said that you should never sell your Bitcoin, you should hold it for a lifetime. He believes that when you sell bitcoin, you will be taxed, but if you hold it, you can borrow bitcoin at a good interest rate (tax-free). Platforms such as Block Fi provide such services.
What do you think of this problem? If I double my investment during the next bull market, then for liquidity purposes, I will most likely not sell a bit. I really like Bitcoin and its direction of development, so regardless of short-term price fluctuations, I plan to invest in the long-term.
In reality, there's really no one solution, fits all. Same applies in holding bitcoin. You don't have to listen and do other people's advice because everyone's situation, plans, and priorities are completely different. You have to follow a piece of advice just because someone who said it is a famous personality. We hold our coins for a reason. Some people are in for short-term, while some people are doing it for long-term. We know the potential of bitcoin. The history has said it all. It's just really up to us whether to sell or to hodl. We have our needs in life. Maybe at some point we will have to withdraw some of our funds for emergency reasons. There are endless possibilities that could happen in the future because the future is never certain. In addition, I just like to add that if I will hold my bitcoin for a lifetime, then I would not be able to savor the fruit of my labor and patience. I can invest and save, but I will also make sure that I can enjoy the things that I worked for. This is just my personal take. Anybody can do what suits them best. It's their holdings after all. |
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The mentality of the people that belongs to different economic classes really varies. We are exposed to different surroundings, hence, we have different ways on how we view life and the circumstances we face each day.
For the people that are naturally born poor, they were used to witnessing things that are perceived as the basis of "reality of life". At a young age, they are introduced to labor to bring some food on their table and to make the ends meet in general. They are conditioned to just accept what kind of status that they have and just dream enough. A dream that is just the bare minimum like having to eat three meals a day, having clothes and slippers to wear, can drink clean water, and other basic human rights. They are conditioned that if they are born poor, then they will die poor. This is because poor people were mindsetted to just accept what they currently have, enclosing them not to dream high because they can barely afford surviving each day.
Meanwhile, naturally born average people are just at the middle. They are exposed to an environment that they can see both worlds. They can do what they want and dream , only as long as they can afford it. They get by without worrying much like poor people worry each day. They can live a comfortable life, but they have to continue working to afford and maintain the lifestyle that they have. Average people's mindset is to work until they achieve the things they want and to soon later on be wealthy enough to achieve the things they want in life. They aren't hindered that much to dream and achieve their aspirations.
On the other hand, naturally born rich are the top of the crop. They can do freely what they want and dream whatever they want and actually achieve it because they have the money. They have safety nets that will catch them if ever their plans will fail the first time they execute it. They aren't pressured much to work their ass off because they already have what they need and want in the first place. The rich's mindset is often to become even much richer. The rich people are known go be business-minded persons and into investments that could make them generate more income. The money they will use is readily available. They won't worry where to get money to fund their businesses and investments, hence, most of them become multi-millionaire and even billionaire.
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African regulators have reasons why they told such thing. There are several possibilities I can think of. One of it is because they are ignorant and close-minded. Some people don't really like to learn and discover new things. Hence, when they are introduced to a whole new level of knowledge about something, they tend to push the opportunity away. Few government officials think this way - they see the current system that we have is enough for the what the people need. Which is why some countries make policies prohibiting bitcoin in their country. They don't want their people to use it because they think it's harmful, without even validating their gut feel.
Second reason I can think of is they want to take control. Government is known to take over the country. They are the ones planning and making the decision for their constituents' welfare. However, their intention isn't always as pure as we perceive it to be. Few government officials want to manipulate the livelihood of the citizens and even the knowledge they will receive. By those means, the probability of making a fool out of the people when the time they needed it the most (election period) will be high. If they will introduce crypto, they would think that the people will be another step closer to financial freedom. Which means that the citizens will not be dependent on them. Resulting to weaker leverage because the people aren't dependent on them anymore.
Lastly, I think the government is just playing safe. There are many bad rumors circulating on different platforms about cryptoccurrency. Because of those things, they would rather not risk another set of troubles in case there would be many schemes and scams that will be recorded if they will allow cryptocurrency. Instead of allowing it, they would opt not to since it could just add to the problems that they will attend to.
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It's true that many gambling addicts have become rich from gambling but will it last long?
most of them will only fall back into poverty because of their lack of control over themselves so they think that the money they win must be played back so that more and more. this is the reason why gambling addiction will never produce anything.
I agree to this. Most of them will definitely end up being poor again, because they will go happy go lucky every time they play gambling because their mindset says that as long as they play gambling, they will make more profits in the long run, but everything could escalate quickly if they are not going to be wise on spending the money they won from gambling. Sadly, aside from gambling, they can't think of anything where they should spend their money, like for example investing it on cryptocurrency or real estate, they will just continue to bet it 'till they get empty-handed again. |
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The fake reviews will not have a chance to trick or slander the casino because the casino will try to defend and proves that they are not guilty. Even they will try to investigate it to find which people want to get them down.
The reputations can go away with one mistake and everything that they build from a long time ago can ruin. That is why the casino will not trying to make a mistake and they see a problem, and they will help their customer to solve the problem.
You're absolutely right about it mate, building a good reputation for a gambling business really takes years and if they managed to earn a good reputation they will certainly do anything to protect it even fake reviews will not justify the a gambling business once they have a good reputation standing. For sure once it has an anomaly that would going to drag down the name of the institution every representatives of the gambling business would really going to find out the solution to the problem and would not let their gamblers or players feel the problem too. A single negative news or review won't ruin a good reputation of a gambling site, because many of its supporters would react about it depending that the rumors are not true and the gambling site would prove it that they're clean, simple as that. A mere accusation without any solid proof will never be accepted as a fact to crumble down a certain business, it takes a lot of legal process before coming to a conclusion whether they are guilty or not. Long running online casinos would never scam or do anything foul play to ruin their reputation, in my opinion. |
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I guess we should be disciplined all the time, but it's hard... especially when we are in a good mood and ready to risk what we have for some entertainment and possible big wins!
I guess I would be okay losing my control when I'm winning as I could end up winning a bit or losing all the money I have. Compared to out of control because you are losing, you could possibly add more money to gamble although you have already max out your limit, and because of that, it might result in bigger losses that you will regret for the rest of your life. We don't want to be in that situation, but because we got caught up in anger, we make a stupid decision. In gambling, self-control and out-of-control will definitely exist and I think both are very important in betting and the most important thing is being able to place them at the right time. and it all depends on the bet being played, self-control when betting always loses and loses control when supported by having a chance of winning and definitely winning to increase the bet or something. and that is the discipline of playing, occupying what is felt at the right time, and yes it is difficult but if you get used to it then the results will be good. Being out of control will never exist as log as you have self-control, in my opinion, because you'll always be careful about your bets and decision making, they can't exist both at the same time unless your self-control is not that strong versus the urge of playing carelessly. And losing control is not the right term if you're winning, I meant you can't win if you're out of control, because being not in control means you don't have any strategy up your sleeves unless you're playing luck based games. To be able to win means you have to be in control of the game, never let the game control you. |
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The excessive playing in gambling is the major symptom of this disease. A certain addicted person will always prioritize playing gambling above anything else no matter how much he'll spend and lose on it, just to feed his desire to satisfy and infuriates himself because things doesn't always go with his plan.
Now, the very hard part on it is convincing them to get treated, because they won't admit that they are addicted. Take note, in order to solve a problem, you need to admit that there's one. So without their cooperation, they won't get better, instead they'll get in the worst case scenario.
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This is, without any sugarcoating a good news all in all. Germany trying to integrate cryptocurrencies into traditional banks will make people believe in the said cryptocurrency more, knowing that the government has just given a green light for such. Either way, it may or may not receive the attention and traction it needs to get a boost, considering that fiat and banks are still the most trusted combination of people who don't know anything about bitcoin. It will take time, though people would soon realize the that it can work, albeit a slightly absurd way of handling things (banks handling a coin that promotes people to 'be their own bank')
I agree. It's another mission unlocked for bitcoin if ever the government of Germany will really accept and give go signal for cryptocurrency to be adopted by the traditional local banks. It will be another stepping stone to mass adoption. This kind of news makes me happy that the world is indeed keeping pace from the technology and innovation. It's nice to know that there are people, organizations, and institutions that are open-minded, knowledgeable, and willing to share the benefits of bitcoin to other people as well. Recently, El Salvador's bold move making bitcoin as a legal tender in their country garnered a lot of attention and inspired pther countries to make the same move. Hopefully, in the future we can read continuous news and articles regarding this matter. Bitcoin is really the next big thing. I really do believe on its potential. Wishing other people to see it too the way we do. |
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https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-taxIn 2007, Jeff Bezos, then a multibillionaire and now the world’s richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011. In 2018, Tesla founder Elon Musk, the second-richest person in the world, also paid no federal income taxes. Michael Bloomberg managed to do the same in recent years. Billionaire investor Carl Icahn did it twice. George Soros paid no federal income tax three years in a row. I am forced to post this, because a lot of people have been brainwashed into thinking that the Democrats are in favor of higher taxes for the rich. Democrat heavyweights such as Michael Bloomberg and George Soros always argue in favor of higher income and capital gains taxes. But the truth is that the Democrats only want the middle class to pay taxes. Billionaires such as Soros and Bloomberg never pays a penny in taxes, because they never sell any of their assets. Instead, they take loans by mortgaging their assets. And yet, they are thick skinned enough to gloat in the public that the "rich" should pay more taxes. This is the reality behind the new "American families plan" by Joe Biden. The additional $6 trillion burden will fall on the middle class, while the uber-rich will continue to pay near-zero taxes. According to the research by ProPublica, the billionaires in the US saw their wealth increasing by $401 billion between 2014 and 2018. And they paid a total of $13.6 billion in income taxes during this period (which corresponds to a rate of 3.4%). An upper middle class family in high-tax states such as California and New York are required to pay close to 60% of their income as taxes, while these people are paying around 1/20th of that amount. If people still believe in Biden and his stupid spending plans, then the future looks hopeless for the United States. The overwhelming statistical evidences only proves the inefficiency of current market policies in bridging the gap between the developed and striving nations. Moreover, we have seen that income inequality is not only domestic but also international at the same time. For me this situation is clearly an economic imperialism and this is the result of letting the market live on its own with less political interference or regulations. Poor people believe that rich people will be the ones that will be the most affected by the rule of "taxation" and all these taxes will be for their benefits, but based on some videos I watched, rich people have ways of controlling how much tax they will be paying by creating corporations which pays lower tax than an individual alone. Besides, some working poor and middle-class people, are also being taxed, because of the rule of law, which initially created to help them. To address this issue, indeed the rules must be ammended locally and globally and this is the challenge knowing that every country has their own agenda. |
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Those who advocate hodling, when do you cash out?
I mean, dying hodling is not the plan, is it? Eventually, you'd need to enjoy the fruits of your patience, right? When is that, when someone says "hodl"? Is it a savings plan? A retirement fund? What does it mean to hodl?
I think it really depends on someone's timetable and plans in life. Personally, I plan to hodl until the time I need funds. If ever bitcoin's value will sky rocket, I will withdraw some of my holdings and build a business that will generate additional income. If it goes well, my extra money from the profit will be returned back in bitcoin to give back the funds I have withdrawn. Long-term investment is what makes me hodl in cryptocurrency. I like crypto as a form of investment vehicle compared to its 'competitors' because it is a lot safer medium when it comes to deflation. Although I always recommend diversifying of funds because i believe it's always the wisest thing to do - not putting all your eggs in one basket. However, to each his own. We have different priorities in life after all. |
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Recently everyone is very anxious, the market from time to time falls, sometimes with the negative news waterfall, sometimes without the negative news waterfall, as for the positive news almost no, it really makes people hate the teeth itch. Whether it's profit withdrawal or principal loss, watching your money slowly being eaten up by the market is generally an individual's anxiety. The more we get to this point in time, the more I think it's important for us to ask, or for us to ask ourselves, what are you holding bitcoin or Ethereum or any other digital currency for?
If you plan to invest long-term speaking, you shouldn't worry much whenever reading or hearing news like that. Bitcoin is volatile. I don't know how many times I've said this in different posts. Anyone planning to invest or save in cryptocurrency platform should know that before diving into it. If you are easily shaken with these kind of news, maybe you still need to save more courage before entering crypto. When it comes to investment, always be reminded that high risk, high rewards. Risking is always a part of every investment we will make may it be in crypto or other investment vehicle. Just manage your funds wisely and risk what you can afford to lose. In addition, i suggest diversification of funds to avoid inconvenience, losses, and regrets in the future. |
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It's all about connection and money. Many athletes agrees with it (even he'll lost) as their agreement of a fixed match because he'll get more money than the agreement amount, it's a win win of course and a practical way of giving titles to someone who needs it, unlike giving it for free. Mayweather and Pacquiao matched before was also fixed in my opinion, I mean, if you already watched it, you'll noticed that their moves is scripted and not giving all their might to defeat one of them.
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Gambling licenses are a form of giving permission so that they can be held accountable if at any time their legality is questioned.
When a gambling site cannot grant a license, it results in a low level of trust. Then why do you feel useless with the gambling site's license?
Isn't the license very important to determine if the activity on it will guarantee that the site has quality?
I think OP wants more benefits on having a license in gambling (if you're an owner) or if you're playing in a licensed online casino. A license basically means they are legally allowed to operate in a certain country, and give their customers the fullest security and assurance they need to trust the said online casino. Having a license is a big impact on their morale, because they could easily attract players, depositing money on them without having any second thoughts. Also, a license is a way to prevent a scam for both parties, just in case an online casino scams you, the authorities know who to catch and where they should find them and file the legal cases on them. |
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Keeping the records will be truly entertaining, but if there isn't big win then it'll be a big disappointment. Therefore it won't be enjoyable, gamblers look for the ways to recover the losses and maintain the statistics with profit. These days loss of $100 has turned to be an easy thing, but someone it is a month's wage.
I doubt that many gamblers will keep the records, especially if they playing gambling because of fun. If they want to recover the losses by watching the records, they will need longer and more money to recover and they don't know how long the time to recover it. If they can see how much money they already lost in gambling, they should think about how to use that money for other things instead of playing gambling. That will be useful for them because they do not lose that money at the gambling table. Gambling is not a regular job where you can calculate the time needed for earning this or that amount. Chances are you are going to lose even more with time in gambling instead of recovering any losses. That's why if you like to gamble, because it's entertaining and relaxing for you, earn money some other way, and spend on gambling what you can afford, but don't try to earn money through gambling. Some gamblers are trying to use gambling as a job, and they tend to play gambling to make money. Yes, we can lose more money, and that chance is bigger if we can't control ourselves. But if they still play gambling because they want to recover their losses, that will not work for them as the losses will fall behind them. If we like to gamble, we need to treat gambling carefully and always control ourselves and enjoy the game without having a passion for winning bigger money. And if we can win that small or big money, that will be our bonus and don't try to chase a bigger winning. Keeping records of their gambling expenses and profits is more depressing and stressful if they'll do that, so they choose to avoid it or they don't really want to do it because it's just a waste of time or whatever. All they wanted is to win every time they play gambling, however, like most of us knows, most of the time the majority of gamblers are losing. That's why making it as your job to earn money is never an option, because that's not how gambling works, it's a 30:70 chance of winning, as always. |
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