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3201  Bitcoin / Bitcoin Discussion / Re: Netskope's Recommendation Against Cryptocurrency Theft. on: August 15, 2022, 01:54:10 PM
Will there ever be an end to cryptocurrency scams?
Why would anyone stop doing a job that is very profitable and you can literally do it from the comfort of your home or from some exotic beach while sipping a cocktail under the palm trees? The problem is not only that there are bad people who take advantage of the situation with cryptocurrencies, but actually the biggest problem is the millions of naive people who are easy targets.

Exactly, it's not going to be the police or the authorities looking at all scammers that's going to end this, the only way out would be that users would be less gullible and far more vigilant on what they do and what they install and who they trust.

But, we all know this is not going to happen, scams like the "it's me it's me" on the phone have been happening for 2 decades, and people, thousands have been tricked into letting scammers know their bank account details or giving them access despite billions reading the news about it every month, and thousands still fall for those Ponzi schemes and get rich quick schemes every day just as they did one century ago.

So I would bet at 1:1000 odds that the FED will use BTC 100 years before we celebrate 1 day without somebody getting scammed.
3202  Economy / Scam Accusations / Re: [SCAM ALERT] Bingo-hash.com fake gambling website. on: August 15, 2022, 12:47:49 PM


Anyone here has the guts to test if this is real?  Grin
I'm willing to bet the moment they get 5k they close shop and disappear.

Anyhow, not only is this the first casino that promotes stable and guaranteed income but what the hell is with the website design if I access the link in the desktop I see only one banner if I go directly to the root I'm redirected to an unscrollable pc.html page, was this shit design only for mobile?
Interesting that they told you what the equivalenting INR gain is, despite you ignoring the where are you from the question but how does 1800INR equal $1500? And how does $100 a day make you $1500 a month?

This is one of the many downsides of using telegram.If your account is set as public, which is the default setting, anyone can find you and start sending you unsolicited messages.

That's the reason I only use telegram to tell people to contact me over WhatsApp  Grin
3203  Economy / Economics / Re: Hyundai rolls out 27 heavy-duty hydrogen trucks in Germany on: August 15, 2022, 11:04:39 AM
Instead of providing reliable energy through oil and gas with existing infrastructure, they continue to invest in unreliable green energy initiatives at a time when Germans might be facing freezing in the winter. I hope Germans are not celebrating these sort of accomplishments.

Can we stop with this freezing nonsense, please? I don't know why everyone has this impression in winter every country in Europe is full of snow, reindeer clogging the autobahn, and sixteen feet of snow covering each house and people using sleds to go to work.

These are the temperatures recorded this January in Berlin:
https://www.accuweather.com/en/de/berlin/10178/january-weather/178087?year=2022
This is Munchen, deep in Bavaria:
https://www.accuweather.com/en/de/munich/80331/january-weather/178086?year=2022

with the lowest at night being just once -7 and half of the nights not going below freezing and even reaching 15C during the day, don't you think the whole freezing stuff should really end? Do you know that in February this year Paris hasn't seen temperatures drop below zero?
Let's fuking stop with this, Europe is no north pole or south pole,  temperatures recorded in some skiresorts have nothing to do with the average.

As for hydrogen itself, the author in that totally biased article forgets one thing, hydrogen can be made when you have excess power in the grid and can be used when you don't have enough, just like traditional pump and storage systems work! This is a great advantage of the system.

So has nothing to do with natural gas then.

Americans (assume Hydrogen is one) say gas, we use gasoline but more diesel or benzin here for it, that's where the confusion starts and everyone is talking about what he thinks gas stands for.
3204  Economy / Economics / Re: China's debt bomb looks ready to explode on: August 15, 2022, 10:23:27 AM
Is the author confusing Japan with China?!
All the sources I look up on the internet are reporting a 250-260% debt-to-GDP ratio for Japan, and about 60% for China and 130-150% for United States!

As always, your sources are good for nothing, exactly the third result in google:
Directly from South China Morning Post (owned by the CCP)
https://www.scmp.com/economy/china-economy/article/3135883/china-debt-has-it-changed-2021-and-how-big-it-now

Quote
China’s overall debt was 270.1 per cent of gross domestic product at the end of 2020, up from 246.5 per cent at the end of 2019

This's because China splits its debt, local governments, local authorities, and companies despite being owned by the state have each their own reporting but in all cases is the government that owns all of it.

It is possible that china's economy is imploding at the moment. The united states $50 billion dollars in ukraine funds, might have gone to china. To stabilize their economy and prevent global collapse. This could be one reason behind the united states currently throwing "additional funding" at ukraine. And funding additional near $1 trillion dollar packages.

I don't know what you're smoking but quit it! Lend-lease doesn't work like that, and the US has no reason to pay China's debt, if they wanted that they could settle this between them as both countries own part of each's debt.
3205  Economy / Exchanges / Re: "Decentralized" exchange dYdX confirms blocking accounts linked to tonado cash on: August 15, 2022, 09:59:05 AM
The thing is even stranger because you didn't even have to be a user of that mixer for it to cause you problems.


Source

I have zero ETH right now, I've never used TornadoCash ever, but I wouldn't mind getting all my addresses blocked with 0.1 ETH in each.  Grin Grin
Where do I sign up to be a pissed fof celebrity receiving unwanted money?

This is something that will probably cause many exchanges to rethink how they handle customers who have received transactions from illicit sources, and may even lead to litigation surrounding "taint".

Since this is the crypto world and since in the last period we've seen only moves towards centralization and even worse proposals, for example, the rollback proposed by CZ after the hack of Binance we're not going to see a change in the definitions but more likely some new features, some shitcoins have already come with a proposal of individual whitelisting and blacklisting of addresses to which you can send funds, so Pandora's box is wide open.

Back to dydx:
https://twitter.com/AntonioMJuliano/status/1558088426926313472
Some people have really no shame, after blocking accounts how they are proclaiming they will fight against this till the last satoshi....
3206  Economy / Economics / Re: Russia More Than Triples Current-Account Surplus to $167 Billion on: August 15, 2022, 09:39:29 AM
Although Ukraine didn't lost half of it's territory, it is a fact that it lost 20% of the territory that remained after the annexation of Crimea. Not too bad, IMO.

It's 20% with that territory of Donbas and Crimea, quite a funny since your marvelous prediction Russia has lost more land that it has conquered in Ukraine.

Indian GDP went down by -7.3% during 2020-21. The 4% reduction in Russian GDP is not surprising. And given the massive amount of sanctions and embargoes (Russia is now the most sanctioned country in the world), I expected much worse.

So you admit yourself that even if the country is completely shut down the GDP doesn't go to zero, and we have Russia's economy going down 5% last most, that would be like 2/3 of it being shut down, not bad. /s
Should I mention that despite all that catastrophic meltdown somehow EU's economy has grown 0.9%.

LOL.. seriously? Gas prices are so high in the Europe that Gazprom Germania diverted some of the supplies earmarked for India (GAIL) to Europe. Even after paying the penalty to India under the "take or pay (TOP)" terms, selling LNG to Europe was more profitable for Russia. This is actually what happened.

I love your laugh, obviously, it's the laugh of somebody who is on the brink of going insane, you mean that Russia is not selling LNG to India because Europe pays more even with a third party?
So the outcome for India is that they don't have gas, they don't have money to buy it, and Europe will collapse?
How many times have I told you that the one with the money dictates everything?
How many times does it take to finally get it?

Oil prices are down by 20%, because the Americans are emptying the SPR before November midterms. It has nothing to do with Russia. Russia had to reduce exports to India and China in July because of increased demand for crude oil from Europe. 

You see kiddo, this is your problem, you try to find the things you want in a problem, like in this case you want this , weakness of your adversary to be the cause of the fall in price, you're not looking for the actual thing.
And it's not the "emptying" of the SPR as they only release 1 million barrels a day, and they still have 523 million only in the SPR not counting commercial reserves which the US can buy and dump, and those are, prepare for a heart attack another 400 million barrels.
So all of it will be emptied in about 3 years!

But the problem is that is not that which is driving the price of oil down but the lack of consumption, it's full US and EU driving season and the consumption is 1 million barrels below target for the US alone, at the end of the month this will come down again by at least 20%.
That's why oil is at 88$ as we speak, or 69.48 for Russian oil.  Wink

Russia won't fall down that easy. It seems that they're too ready for this war and their economy is still surviving despite the sanctions. But the question is, how long could they handle the sanctions?

(Collapse of the USSR - Invasion of Afghanistan) / 3  since Russia is half of the USSR and its economy globally is 1/4 of what it was

Everyone considers what Russia could give to the world, and nobody asks what could world give to Russia.

Vodka as they don't need anything else.
And btw, yeah, Russia imported both vodka and caviar, vodka from Sweden and Poland, and Caviar from Italy and China!
3207  Economy / Economics / Re: Are CBDCs good for the economy? on: August 14, 2022, 11:10:39 AM
~
I don't think so that 1 dollar is always 1 dollar but there are times that the dollar can decrease or increase by a tiny percent. Also the stablecoins that we are talking about here are only legit stable coins and not those scammed ones like ust and other algorithmic based stable coins. They aren't really stable because they can easily depeg.

One dollar bill is one dollar bill, there is no way a cashier will ask you for 102 bills to pay a 100$ product.
As for the "real" and "scam" tokens, how do you know others are legit?
Have you seen their cash, have you seen their bank account statements? Tether hasn't been able to come with proofs in years, why believe them?

If not comparing CBDC to bitcoin or other cryptocurrencies, CBDC is much better than current stablecoins. CBDCs are simply fiat in digital form and they are managed and backed by 100% government so it is still safe when compared to stablecoins issued and managed by individual companies. Once CBDC is widely released and adopted on exchanges then that is the end of stable coin.

CBDC is like the numbers in your bank account, it's one dollar for one dollar, stablecoins are like casino chips, they are worth 50$ but only id the casino wants to exchange them for you, with no guarantee it will do so, no guarantee it will still be there tomorrow and without anyone else accepting them.

CBDC is just the digital form with fiat, with no real advantages no real disadvantages over your card, for example, stablecoins are just the worst of the worse of cryptocurrencies, they can lose value overnight, they can be frozen, they can become unchangeable as exchange delist them and there is absolutely nobody you can complain to.
3208  Economy / Service Discussion / Re: BItcoingate? on: August 14, 2022, 10:44:11 AM
Hi!
Does anyone here know of a place called bitcoingate, bcgatig.vip?
I have been introduced to this place by a trader, but I feel unsure whether this is a serious place or not. Any advice?

One month old domain, claiming millions of users, claiming to be founded in 2013 and with offices in 84 countries and 3 billion in cold storage?
There is no exchange in this world with that many offices in the first place!
And that app with no links to google play but with 20k reviews, of course, it's nothing fishy at all.

The "trader" is most likely a scammer who will trick you into depositing BTC on this website and then he will go deaf on all your other requests, except for the moment he will ask you for money to pay for cashing in your "winnings".
3209  Economy / Service Discussion / Re: The Warm Fuzzy Feeling Of Too Much Regulation on: August 14, 2022, 09:14:47 AM
If there were 2 major players say DaveExcange 1 and DaveExchnange 2 the 1st operated in most states / countries the 2nd was avoiding the ones that required more licensing and financial checks. But outside of that they were both around for years had a good reputation and so on.

It will be like Coinbase versus Binance, one that you know where it operates and where it is located and the other one operates either from Malta or Bahamas or somewhere where CZ seems fit to run. Which answers the second row of questions about feeling safer and usage as a simple poll between the two of them here will probably come with 99% for Binance as it's SAFU! I'm pretty sure an overall majority of users don't care about that, they've never read the ToS, they actually don't know anything about the company before depositing money but they go with the wave.

As for myself, I won't trust any exchange no matter the licenses it has with more than a few bucks and I still feel uneasiness when I'm forced to send a larger sum to exchange to either sell or buy coins, a feeling that goes away only when the coins are in my pocket and yeah when the fiat is in my bank account as at least that's, as Loycev covered. The money or coins on an exchange are not covered by anything, no matter the age and the reputation.
3210  Economy / Economics / Re: Wheat War I is going to be World War III on: August 14, 2022, 08:44:27 AM

From the same website, the same authors, but things you might have missed, just as the Russian artillery does
https://www.nytimes.com/2022/08/12/world/europe/un-ukraine-grain-africa.html

Quote
The first ship hired to carry Ukrainian grain directly to famine-stricken parts of the Horn of Africa since the Russian invasion halted food exports six months ago will arrive in Ukraine on Friday, U.N. officials said.
The U.N.-chartered bulk carrier, the Brave Commander, is expected to dock at the Yuzhny port in southern Ukraine, where it will be loaded with grain purchased by the U.N.’s World Food Program and distributed to “countries worst affected by the global food crisis,” said a spokesman for the program, Steve Taravella.

So far none of the 14 grain-laden vessels that have departed Ukraine are heading to countries facing food shortages. That is largely because they are carrying grain purchased under commercial contracts.

All the ships that are left now till now are the ships that were carrying grain purchased before the war even started, contracted already, now that there is enough capacity to accommodate ships that carry wheat that has been not yet sold, this is going to Africa.
So, stick your propaganda where it belongs!

As for Europe stockpiling wheat, this is just hilarious as Europe exports overall more wheat than Russia does:
https://www.argusmedia.com/en/news/2348664-frances-global-wheat-exports-to-surge-in-junenovember

Quote
French soft wheat exports to countries outside the EU surged in June ahead of a busy line-up for the first half of the new July-June marketing year, owing to a rebound in demand after exports fell short of government targets in 2021-22.
The top export market was Morocco, which took around 209,000t in June, while Algeria and Egypt took 89,000t and 77,000t, respectively, as north African buyers returned to French wheat following muted interest earlier in 2021-22.

And another thing:
Quote
French new-crop sales to Egypt reached 520Kt between 30 June – 4 July, surpassing the 265Kt France sold to Egypt during the entire 2021/22 season (stratégie grains). Further to that, it’s reported that Germany has already sold 1Mt of new-crop in advance to buyers in Africa and Iran (Reuters).

What a surprise, seems that after realizing they don't have bullets to shoot all the protesters begging for food in the streets Iran has switched its tactics and started buying food from whoever has it, and miraculously the exact notion in which the supermarkets were empty is keeping Iran from starving.

The famine in East Bengal (now Bangladesh) during world war 2 killed around 2 to 4 million people (as per Wikipedia). Actual figures may be more then that. Main reason was UK government hoarding the food supplies

So it was not the capture of Rangoon the fall of Burma by the Japanese and the sinking of 100 000 tons of food as well as a navy blockade, as the Wikipedia link you've quoted actually says, noted, another re-write of the history to show how bad europeans were.
3211  Economy / Exchanges / Re: How is that possible Wazirx is still Working even after Raids on Bank Accounts on: August 13, 2022, 10:41:33 AM
Also they have got backing from Binance. Wazirx is a part of Binance. So CZ is very protective about the brand he had built. Unless Indian government decides to completely close down their business, you money should be safe.

And you really believe that?
Because as always, when shit hits the fan CZ is backtracking on all statements and starting his web of lies again..

First thing first, he tells you to get your money out of Wazirx



Now, the real problem:

Binance does not own any shares in Wazirx because

the transaction was never completed despite him claiming on Twitter



Now, give me one reason to trust CZ and one reason not to call him a lying piece of you know what!




3212  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Tornado Cash mixing service is now blacklisted in US on: August 12, 2022, 04:36:08 PM

Quote
Sanctioned Tornado Cash smart contract is a tool, not a person.

Yeah, good luck convincing the guys with the handcuffs and the guns about this as it seems they don't give a damn.

I always tried to tell people they should be really waking up and just because they are defining for their own what is financial transactions, what is copyright, what is code, and what is anything else, it kind of stops being important when the other guys that don't agree with you have all the power. Just like the $5 wrench attack vs the sha256 encryption meme, there is a really dangerous reality we might face, and hiding behind definitions won't save you when the others have their own.

But the biggest danger is that I can see how this is going to end, some will become enraged, some will scream, some will thread with x and z and one month later nobody will care till the next guy is getting thrown in jail.
Also, speaking of nonsense, I just saw this tweet:

3213  Economy / Exchanges / Re: "Decentralized" exchange dYdX confirms blocking accounts linked to tonado cash on: August 12, 2022, 01:23:48 PM
The same startups and projects that claim to bring in excellent new solutions, new decentralization, web 3.0 or even web 100.0 are the same projects that end up making a big U turn after a couple of years when they get numbers in trading volumes and start bending the rules.

Finally seems like there is no longer just a single case when "something" has gone wrong, the usual but it's not like that for all of them, the whole charade is coming down in flames. The whole myth of the new Defi solutions that will revolutionize banking and give your freedom back was simply a lie, a hyped word that in reality had no meaning whatsoever, everyone should have understood that from the moment the first coins were frozen or blacklisted that this was just a way to cash on the hype and to trick gullible users that they've bought something special and it's actually theirs.

But something that needs to be mentioned is that of course they are not doing this on purpose, but they are doing the same things banks do with just one thing in perspective, staying afloat and making money. They will change Defi into Cefi immediately just like a lot of them have abandoned Defi for NFT for web3.0 for everything that was bringing more money.

Question is do you still believe in these "DEXES" that are run by smart contracts and who devs can just wake up any day and make tweaks based on their mood or emotions?

The ones who will read this topic probably knew it well before those are not to be trusted, the others will not even care, they are busy asking on Twitter if "Terra back to 100$?"
3214  Other / Beginners & Help / Re: Why I prefer Decentralized wallet on: August 12, 2022, 12:35:06 PM
There is no centralized or decentralized wallet.
Wallets can be categorized into centralized and decentralized as well.
When you use bitcoin core, you are using a decentralized wallet, because you don't rely on any third party.

Being decentralized means being distributed or dispersed, your wallet is a piece of software, it doesn't mean because it can be used alone with its own configuration it is decentralized, just like my miner for which I can change the mining pool at any time or go solo mining is not decentralized either as it's one piece of equipment if it breaks this is it. Just like with bitcoin core, if your HDD crashes there goes your wallet, what you have might have left be a copy on a stick but you don't have redundancy in this case as bitcoin nodes do.
3215  Economy / Exchanges / Re: How is that possible Wazirx is still Working even after Raids on Bank Accounts on: August 12, 2022, 12:06:12 PM


The moment an exchange says don't panic, funds are SAFU, is time to get out of there as fast as you can.
Even if it doesn't go bankrupt, you don't lose a thing, but if it does...
As for the main question, it might be just how MtGox managed to stay afloat when the Dwolla funds were freezer or when Mizuno stopped servicing them, it stayed afloat using third-party solutions but slowly it reached a point where it would have collapsed even without the hack.

Anyhow this is pretty easy to check with so many users having an account here, you can ask some friend to show you the details of a successful withdrawal, in his bank statement he should have all the info, if the payment comes from a different source than in the past it means things have definitely changed, if it's the same account then there was nothing but a hiccup.

Either way, stay away from an exchange that even its founders have problems identifying who actually owns and operates it!

3216  Economy / Economics / Re: The US CPI has strong influence on Bitcoin (a reason for the current rise) on: August 12, 2022, 11:38:41 AM
You're making a causal association without any long term data to back up your claims.

Casual data, yeah but no!
This is from my other topic, it's a 15 minute graph showing exactly the moment of the CPI announcement:

well, bitcoin didn't disappoint:


The moment the numbers were released the price went up instantly, one should really stop thinking thet Bitcoin is in a world of its own where is not influenced by the others, the correlation might go up or down, as in those two threads by Ratimov but no matter how much you deny things and numbers are there.

It has influence over the markets in general; it's not exclusive to bitcoin only. CPI and inflation rates can simply influence the decisions of investors in general; if they want to risk on or risk off. Bitcoin (at least currently) is simply a higher beta version of the Nasdaq.

Yes, it does but it amazes me how many refuse to accept this as it somehow breaks whatever sort of image they've had about bitcoin.
Once you start becoming a global tarded asset, with millions of investors and billions flying around, how could you even try to think it will not be influenced by such data just as traditional markets are?



3217  Economy / Economics / Re: Russia More Than Triples Current-Account Surplus to $167 Billion on: August 12, 2022, 11:23:49 AM
Now coming to the economy, I am yet to see any meltdown or destruction of the national currency, as predicted by the Western media six months ago. That may happen in the near future, but so far their economy has been resilient against the sanctions and embargoes.  

You're yet to see?
You proclaimed in April that in one month Ukraine will lose half of its territory and now you fail to see this?

Their GDP dropped 4%, this with months of companies still working there for a while, with the ones retreating still paying their employees 3-6-12 wages for being let off, with most having paid rents and suppliers one year in advance, with people still having a few pennies left aside and DESPITE your claims of billions entering the economy it has still shrunk 4% with 4.9% in the last month!
And you don't see the meltdown happening?
Oil is on average 10% lower in the last 30 days than when the conflict started, Russia is selling less and for less than that, you keep mentioning gas prices at the TTF but you don't understand Gazprom is not selling gas there, those are future settlements but probably I will waste my time explaining the difference.

Your bias knows no margin, you're bragging about how Russia is exporting this and that to China and India but I haven't seen you mention this one a single time:
https://www.thehindu.com/business/Industry/russia-defaults-on-lng-supplies-to-india/article65657494.ece
Europe will freeze to death but till then seems like we can buy what others can't afford:
https://www.reuters.com/business/energy/indias-petronet-delays-plan-1mtp-lng-deal-amid-high-prices-2022-08-05/

Those are things none should speak of, right, because it breaks your narrative!! Because you don't want to see the reality? Well, good luck then, there is no meltdown in the Russian economy, Russia hasn't defaulted twice in history, the USSR has not collapsed and there was no meltdown at Chornobyl either! Oh, and India has conquered Great Britain there times also! Sorry, I forgot this! Just as how Iran once ruled all of Mars!

The Russian Aerospace Forces are in good technical shape and excellent combat tone. Front-line aviation performs combat missions every day, mainly at ultra-low altitudes beyond the reach of radars and brings terror to the soldiers of the Armed Forces of Ukraine. The superstar of this operation is the Ka-52 Alligator attack helicopter.

You might want to google "saki airbase" and visit this. Your superstars have hit rock bottom faster than Lindsay Lohan!

3218  Bitcoin / Bitcoin Discussion / Re: Pay Utility Bills With Bitcoin In Nigeria on: August 12, 2022, 09:13:36 AM
That sanctioning was on the banks.
prior to the sanctioning from the Central bank against banks direct involvement to Bitcoin transaction, some commercial banks in Nigeria we're involved in Bitcoin direct transactions services such banks like Access banks and Union Bank of Nigeria. But aside from that Nigerians are still involved in Bitcoin/cryptocurrency activities such as p2p trading without and harassment or fear, so many cryptocurrencies Ads run on the National TVs and that leads us to the conclusion that Nigeria 🇳🇬 still have flexible approach to Bitcoin.

And, if sanctions are on the banks how is the payment going to the utility providers?
I've read the whole interview and it looks like he is definitely trying to avoid answering thi s with useless walls of text:
https://nairametrics.com/2022/08/10/nigerians-can-now-pay-utility-bills-with-crypto-rutherford-atayobo-ceo-manilla-finance/

Quote
In a heavily regulated environment like Nigeria, where banks are banned from processing crypto-related transactions, how does it hope to achieve this?

The Manilla Finance platform does not rely on traditional banking services for its operation as we are not routing scripts or API’s through conventional financial solutions. We earnestly yearn that regulators will relax some of the restrictions to enable Nigeria to participate in the global digital economy devoid of bottlenecks. It will be an action we believe will greatly impact the Nigerian economy positively since digital currency adoption has gone through the roof since the last bull run. More are entering the space and already taking suitable positions as the blockchain world anticipates the mother of all bull markets come 2024/25. <6 lines of not saying a thing>

Meanwhile, even if Nigerians or users in every country where we are going to operate decide to use the application for payment of bills, all returns are ploughed back to the original service providers through fiat. So, our services do not really write off the use of fiat, it simply provides an outstanding and faster alternative – cryptocurrency.

I fail to understand this, you don't ditch fiat but you use an alternative, this is simply something that is impossible, as you can't use an alternative without actually ditching the first choice, that's what an alternative is, and somehow you magically change cryptos into fiat and you pay the companies with what? A truckload of cash and you pay one by one each bill at a PayPoint machine?

Quote
These restrictions make switching directly from crypto to fiat difficult and this automatically makes our product a welcome development because what we are building provides users with the rare opportunity of paying for the multiple services we offer without recourse to the local currency.

So, if you take crypto and you deal with fiat, it's not the same?
What magic does that app summons to use and not use a system at the same time?
3219  Economy / Speculation / Re: Bitcoin doesn't like inflation either on: August 12, 2022, 09:01:59 AM
Bitcoin is actually the best hedge against inflation there is. If you started buying bitcoin in 2009 to 2015 then I don’t think there is an asset comparable to how well bitcoin has done. Your money would have done a lot better than protect against inflation.

I will never say that bitcoin is not a hedge against inflation, even if bitcoin would be dropping in price for a while it will still long-term beat any inflation unless something of catastrophic magnitudes happens. I've amended the title to high to enforce a bit what I was trying to say, if you look just at the price and not correlate that with purchasing power it's clear that it will not grow fantastically in a period of prolonged inflation, it will be able to keep on top looking at the rates but nothing spectacular.

One thing, let's not say 2009! Common, you can actually count the numbers of people who bought coins in 2009 with your fingers.

Sure since inflation hit 8% & higher bitcoin hasn’t done as well but we’re in a bear market, this would have happened to the bitcoin price any way.

And are you sure that if the economy was doing fine and there was no inflation and no war bitcoin would still be in a bear market?
That was actually the essence of this, are you sure it follows it's following its own path and is not actually getting more and more tied to the world events?

Bitcoin is a mid to long term investment, not a get rich scheme.

Bitcoin is a tool, you can use it as you seem fit, you can use it as a currency, you can use it as a hiding place for your wealth, you can use it as a long, medium, short-term investment, and you can still look at it as a quick rich scheme, that's the thing I love about it, that unlike anything else it offers the flexibility of choice.
3220  Economy / Economics / Re: Are CBDCs good for the economy? on: August 11, 2022, 06:38:55 PM
There is a big difference between CBDC and stablecoins. CBDC will be done with governments approval and that would be the key point there, and if you do that then you are going to be fine. But, if you are looking at things that would benefit you in the long run, stablecoins are different and they are a lot better.

Why are stablecoins better than CDBC?
At least with a CDBC, you will know 1 dollar is one dollar, with stablecoins you find out in the morning a UST is equal 2 cents.
Besides, even if stablecoins would be able to keep their peg, they are still doing this to a currency controlled by the same government that issued those CDBCs so, what's the advantage?
Let's add the fact that with stablecoins you don't have to worry only about the government freezing your account but by the ones issuing those stablecoins on top of that like tether has been doing for ages.

So, any reason why somebody would use them over CDBC?


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