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3341  Economy / Economics / Re: Ways to avoid being scammed!!! on: September 10, 2021, 01:01:47 PM
Must we give a reason for scammers to continue scamming us?

The insensitive increase in scamming activities over the decades has been on the increase in most parts of the world.
People have attributed this increase to several factors and yet, despite the awareness gathered, the trend still strives.

One will be eager to ask ways scammers get this done and the ways are:
1. Through your contacts
2. Through social media platforms
3. Through manipulating your electronic mails (email)

Following the increase in this, it is important and necessary to avoid this by;
1. Mind those who you give your phones to make calls and contacts to people you don't know.
2. ALways be conscious, or better still, avoid connecting with Wifi networks as this is a means of extracting your data.
3. Always remember to log off your personal accounts (emails, social media) etc. when you use public cafe' and
4. Report any problem associated with the loss of any of your financial institutions to your banks.
5. Be able to patiently read terms and conditions before saying yes or accepting terms and conditions sent to you.
   Lastly
6. Be able to cross-check emails sent to your phones regarding your financial statements as the messages are clone to,
    resemble your banks, but rather having slight changes mostly at the middles with one word having different fonts.
N/B: Be responsible and protect yourself from being scammed!!!!!!

Number #3 needs to be expanded a bit - you should really avoid using any sort of public wifi when you need to login to a website, as you might be vulnerable to certain types of man-in-the-middle attacks when they can "sniff" the data passing through your connection. Most of your other points are fairly sensible. You should definitely use a different password on every website because lots of sites can get compromised and there are ways your password might get exposed. Keep software installs to a minimum, as there are so many nasty programs out there which can be used to steal important files from your PC and gain wider access to your devices and there is never a good reason to give control of your PC over software like teamviewer to people you don't know.
3342  Economy / Gambling discussion / Re: Dice multiplayer theory on: September 10, 2021, 12:56:42 PM
Dice is the most popular game in modern-day casinos. The reasons remain clear to me but am a fan of dice, as it doesn’t take much energy to play and win on a single game.

But I want to know the basic theory to play within a multiplayer?

There is no theory to it, unless you can extract some type of mathematical formula from the specific site that you're playing on. It is unlikely to have any impact on the profitability of your play, because the casino likely set it up where the house is always the winner in the long run and no single player will be able to get an advantage better than that. If you wanted to share which site you play on, maybe we could go through it and tell you how badly the game is tilted, but it seems a little futile. Maybe move over to some sort of skill based gambling game if you're looking to gain an advantage over other players - poker or even live multiplayer blackjack springs to mind, otherwise accept that dice is just for fun.
3343  Economy / Economics / Re: China cracking down innovation on: September 08, 2021, 07:23:02 PM
We have know that China has many times expressed and effectively carried out all shorts of moves against bitcoin, but recently they have made very serious moves that not only send a message for the future but also had very real implications for stock owners.

- Serious warnings to Ali Baba owner.
- A "voluntary" donation from Tencent to the "common good of Chinese people".
- A clear warning against any entrepreneur that has "too much public success".

Could this be dampening or even killing the expected growth of the Chinese economy? Are they, after all, still communist enough?


It looks like the Chinese leadership is getting scared. They want to reassert full control over people's lives before any potential negative economic future that is coming. Instead of accepting boom and bust, they cannot be seen to "lose face" by having a bad year, even though that is natural. We see they are also cracking down on celebrity culture of all kind and gaming is receiving a lot of attention too - all things that can create social connections which might go against the government. It actually shows how shallow and weak they are, but these sort of steps tend to backfire as we have seen incompetent officials trying to deny reality before.
3344  Bitcoin / Bitcoin Discussion / Re: Bitcoin 7-09-2021 flash sell-off who is responsible? on: September 08, 2021, 07:08:51 PM
By it's very nature Bitcoin was designed to be mostly anonymous, this has it's benefits but makes getting the sort of answer your after much harder to analyse. There are always a few whales out there who want to maximise profits, so they might have natural sell off automation when certain thresholds are reached - creating a sort of perpetual spiral down. There are so many financial institutions in the crypto game now and they're likely using the many dirty tricks that were previously restricted in places like the stock market and they have some hard core technology to stay ahead of regular users.
3345  Economy / Gambling discussion / Re: Do not make curiosity to people around you while you are playing gambling. on: September 08, 2021, 07:04:54 PM
Gambling addiction was a serious problem that happens in almost all countries. Many people go into gambling coincidentally and watch their parents or closest family or friends play poker cards or other card games or even go to offline casinos because of curiosity.

They were playing gambling because of curiosity and never thought much about gambling or how they became addicted to gambling in the future. They are just smart enough to hide their gambling activity from others because they do not want others to know that they like gambling.

I am reading this article that telling she played gambling since eight years old and her dad was a compulsive gambler.

Source: https://www.independent.co.uk/independentpremium/uk-news/gambling-addiction-women-betting-b1769523.html
(Maybe you need to register to the site so you can read full stories).

That is one example of why someone becomes a gambler, but I believe many others known gambling because of other reasons.

You can play gambling, especially if you play online gambling but we never know if what we did in gambling can attract people beside us to follow us playing gambling without knowing. Always look around you before you spend your free time playing gambling and not making others curious about what you did.

So how are you playing gambling? Did you play alone in your rooms or in your home or in the public area or do you have a special room just to spend your time to playing gambling?

It's rather conflicted advice you are giving. On the one hand you definitely should not be broadcasting the fact you are gambling to youngsters or more mentally vulnerable people - that is true. On the other hand you are encouraging the sort of secretive and damaging behavior that is common with a lot of addicts. People should be open with their closest loved ones, so they can potentially get help if it gets out of control and they do not suffer alone. Like lots of nasty addictions, if you get too comfortable playing alone outside of a social setting then you are possibly making it harder to recover.
3346  Economy / Gambling discussion / Re: Uk most deprived areas have the Highest number of gambling outlets. on: September 07, 2021, 08:24:09 PM
According to the source :
https://www.theguardian.com/society/2021/aug/23/uks-most-deprived-areas-have-highest-number-of-gambling-outlets-report

The most deprived areas of UK are actually having more number of gambling outlets, which is a matter of concern for sure.

Apparently according to the source people are targeting the most deprived and economically weak areas which is sad. The companies are trying to scam people away and this is not working well for the people around since they might get addicted for sure.

How should they go about controlling these things? Should the government try and make laws to ban such behavior and such state? I think people should have a minimum wage for sure when it comes to gambling, what do you think ?

It's a hard call for any government really - if they limit it then the local councils don't get that tax money, lose a few more jobs, end up with a bunch more empty shops and the "punters" will just end up doing the same thing online. There is a very fine balance to walk, they need to regulate what happens within the shop and try to stop any problem gamblers from being created. Make sure people can self exclude (which should apply country wide) and not be able to up their betting by too much (max £100 increase per day for example). You should not ban the shops entirely, because as with American prohibition we see it just gets driven underground, but sensible steps can be taken to make it safer.
3347  Economy / Economics / Re: El Salvador retirees protest against Bitcoin as legal tender on: September 07, 2021, 08:20:02 PM
Introduction : We already know El Salvador become the first country that 100% support Bitcoin because they plan to accept Bitcoin as a legal tender on September 7, 2021 which will bring mass adoption for Bitcoin. As we can see many users spreading good news about El Salvador in this forum, some of them:

I thought there will no bad news from El Salvador to Bitcoin, but I'm wrong I'm really shocked when I see a news talking some veteran, pensioners, and workers from El Salvador protest against Bitcoin as legal tender. The most shocked thing is their opinions about Bitcoin, all is bullshit!

Quote
We know this coin fluctuates drastically. Its value changes from one second to another, and we will have no control over it,” Stanley Quinteros, a member of the Supreme Court of Justice’s workers’ union, reportedly said. Salvadorans also expressed concerns over the lack of knowledge and understanding of the technology needed to use cryptocurrencies like Bitcoin. Protesters held up signs saying, “We don’t want Bitcoin” and “No to corrupt money laundering.”
What on earth did they say??? NO CONTROL OVER IT, CORRUPT MONEY LAUNDERING!
Bitcoin = Be Your Own Bank, you have full control over it just like how Bank can have full control of your Fiat. Bitcoin could be used for Money Laundering but do you have an evidence about it? No! You just ignored the fact your favorite Fiat is always be used for money laundering $800 billion - $2 trillion in current US dollars every year!

Not understand about technology and lack of knowledge? You can still to learn, there's no restrictions to study Bitcoin where you from, where you live, how old are you, what you gender, anyone can learn it! A lot youtuber, article, animations, and whatever already make simple definition for Average Joe to learn Bitcoin, you don't need to learn the technical thing at least you know what is Bitcoin, how it works, how to use, etc etc.

Quote
According to local reports, El Salvador’s latest anti-Bitcoin protests were apparently a part of a wider opposition campaign by local veterans protesting over low pensions on Friday. As such, some protesters reportedly demanded a pension increase from $100 to $300.
They want to be rich, but they protest against Bitcoin used as legal tender LOL does this both picture are hard to understand? please, open your eyes. Bitcoin from 0 went to $47K while USD from $25 went to $1

Quote
Salvadoran President Nayib Bukele announced legislation to accept Bitcoin as legal tender alongside the U.S. dollar in early June. The bill later passed the nation’s Legislative Assembly and is scheduled to be enforced on Sept. 7. Last week, the president clarified that Salvadorans would be free not to use Bitcoin, stating:

“What if someone doesn’t want to use Bitcoin? Don’t download the Chivo app and continue living your normal life. Nobody is going to take your dollars. Someone can always queue up at Western Union and pay a commission.”
This is the most thing I fully respect El Salvador's President statement, he doesn't forcing anyone to download their own Bitcoin app named Chivo which I think it's web wallet or the worst case ask KYC of their citizens. So if you have a privacy concern and worried about the credibility/trustworthy about the wallet, you can use non-custodial wallet or hardware wallet.

In the end, I hope El Salvador's President wouldn't postpone or even rejecting the plan to accept BTCitcoin as legal tender


A very well put together piece of research. It seems like Bitcoin as an official country currency is a bit gimmicky and the young populist leader of El Salvador is trying to gain favor, however it seems to have backfired. I don't think it is a very rich country and a study from 2017 said only 33.8% of the country accessed the internet - it will have grown since then for sure, but that's still low for such a recent year. Beyond the younger generation who are likely to apply for the free money and use it, the rest of the country do not benefit from it at all. The leader might find himself thrown out of office when the next election comes around, if he hasn't already turned it into an authoritarian dictatorship by then.
3348  Economy / Speculation / Re: Massive flash crash on: September 07, 2021, 08:11:03 PM
I Was expecting a correction in this period and actually happened, it was quite understandable after so many days of price pump, but I have to admit that I wasn't expecting such a massive crash (almost 20%).


Maybe it could be a combination of a necessary/natural correction and a "sell the news" factor gave by El Salvador officially introducing BTC as legal tender.


From the moment we never have certainty in this market, I don't want to say that now we have, for sure, to expect a massive pump, but I still remain bullish, because the long shadow on the daily chart could suggest that the buyers are still present and vigorous (the next days will tell us who is the real winner).


It was hard to call what would happen today, the first day that El Salvador has introduced Bitcoin as one of two official currencies of the country. They have effectively bought up and given away a nice little chunk of Bitcoin to any citizen who was interested - bound to be a slight sell off but this seems larger than expected. Maybe the idea was greater than the actual reality, at least in the minds of larger institutional traders who are able to move Bitcoin by such large sums. Who knows what drives the Bitcoin price any more, do whales dump in the hope of driving down the price so that they can buy it back later on for cheaper? There are all sorts of strategies and motives going on behind the curtains that us "little people" cannot comprehend.
3349  Economy / Gambling discussion / Re: Setting up a gambling business on: September 07, 2021, 08:07:34 PM
Am beginning to pick interest in gambling but I don't have any computer code knowledge but will love to operate a gambling site and will like to get some advice from the members of this forum, I have the capital to run the business until it starts making profits.

There is a lot of competition in this field and maybe this is not the right place to be asking such a question - few owners will be interested in helping and that just leaves regular users who are as clueless as you. The best thing to start searching for is white label solutions - the best way to start off is going to be a pre-built solution from a reputable established company. That way you can get a feel for what works and whether running such a site is suitable for you. Yes you might not get access to the front or backend, but there are so many security issues that you'd have to be aware of that it's better an expert handles it. If you start hiring developers and cannot understand the code yourself, beware that it might have all sorts of vulnerabilities or backdoors that could leave you penniless later on.
3350  Economy / Economics / Re: Are Renewable Energy resources the future? on: September 06, 2021, 08:05:00 PM
The world has been depending on burning fossil fuels for energy, throughout all these years. With dependence on fossil fuels, soon enough these finite materials will be depleted. Not only that, but it also has adverse effects for the environment, everything from air to ocean and land pollution.

Fossil fuels include, coil, oil and natural gas, with the latter being cleaner that oil and coal in terms of emissions. Let's also keep in mind how strenuous of a process it is to extract oil, promoting environmental disasters.

Most common renewable energy sources include, solar energy, wind energy, hydro energy, tidal energy and a few others.

The big question here is, can the world be 100% dependent on renewable energy sources? How can that be achieved and are they sustainable?

It's definitely possible and you might say essential that the world eventually transitions to all renewable energy. Fossil fuels like oil are a finite resource as you say, eventually they will run out so we better have a replacement built up to take over or everything will grind to a halt. We are a very wasteful species and have killed off may thousands of different species as we slowly ruin the planet. Even if we do make the switch to renewables fast enough, hopefully we have avoided acidifying the oceans and there are still a diverse array of animal/insect life that is able to live in the inhospitable conditions that we have prepared. Unfortunately people bad estimators so weather conditions might get a lot worse and do a lot of damage in the near future.
3351  Economy / Gambling discussion / Re: Do not make curiosity to people around you while you are playing gambling. on: September 06, 2021, 03:04:14 PM
Gambling addiction was a serious problem that happens in almost all countries. Many people go into gambling coincidentally and watch their parents or closest family or friends play poker cards or other card games or even go to offline casinos because of curiosity.

They were playing gambling because of curiosity and never thought much about gambling or how they became addicted to gambling in the future. They are just smart enough to hide their gambling activity from others because they do not want others to know that they like gambling.

I am reading this article that telling she played gambling since eight years old and her dad was a compulsive gambler.

Source: https://www.independent.co.uk/independentpremium/uk-news/gambling-addiction-women-betting-b1769523.html
(Maybe you need to register to the site so you can read full stories).

That is one example of why someone becomes a gambler, but I believe many others known gambling because of other reasons.

You can play gambling, especially if you play online gambling but we never know if what we did in gambling can attract people beside us to follow us playing gambling without knowing. Always look around you before you spend your free time playing gambling and not making others curious about what you did.

So how are you playing gambling? Did you play alone in your rooms or in your home or in the public area or do you have a special room just to spend your time to playing gambling?

The worst part might be it sounds as if she has not quite gotten over the fact that she is a long term loser - it opens with her saying that she became quite good with cards, but the rare few who really are successful at gambling will not be appearing in such an article, they will most likely be living a comfortable and quiet life somewhere. When someone has gone that many years with such an addiction, it is almost impossible to break away from it, psychologically it can be crushing knowing how much money you have really wasted for nothing but "entertainment" and chasing the rush of winning. 99% of the blame does belong to her father who introduced her to such activities.. some people will see it as a toxic thing and swear off it for life, others will follow the same path.
3352  Bitcoin / Bitcoin Discussion / Re: The use of Bitcoin as a local currency! on: September 06, 2021, 01:12:43 PM
Everyone on the forum knows what Bitcoin is. We already know that many countries have removed this currency from the ban. I mean, will all the nations of the world use Bitcoin as a currency?How important will it be? It will not go to the good side to the bad side?I want to know the opinion-

People all over the world are already using Bitcoin as a currency, that was it's very purpose from day one. If you mean will all countries start to accept Bitcoin alongside their normal currency, as we see with El Salvador, it is highly unlikely. El Salvador is a rather unique case, as they use the US Dollar as their regular currency and had nothing to lose by setting up a second official currency. Most countries around the world prefer having their own currency because it allows the government and/or central bank much more control over their economic policy - if they convince other countries to accept it for debts, then they can print money and effectively inflate away the debt that they owe. This is what we see regularly happening in the US and China who try to devalue their currencies and subsequently their debts.
3353  Economy / Gambling discussion / Re: Credit cards and gambling (tabcorp, Australia) on: September 06, 2021, 08:27:26 AM
I remember the time I made the last topic about how the credit cards might be banned for the future gamblers. Apparently according to the tabcorp, banks are supposed to be responsible for the credit card bans.

They also provided the stats that only 14% of the users use credit cards and most of them use it responsibly. Therefore the ban would be enforced by the banks and not by any government and the authority.

At the same time, there was a statement that I did like in the whole news:
Quote
“If we got more information from the banks that a card was suspect, we could shut it down,” he added. “If the banks notified us that this was a problem, we would be able to stop dealing with that problem, but this flow of information doesn't happen.”

-Exactly the problem here.
The governmental bodies and the banks thoroughly oppose gambling sometimes but at the same time they are not working together with the companies to make sure it's safe and more practical and therefore it's indeed hard for them to point fingers even though they did not try to work together.

I do think this sends a strong message about how things can be done in a better way, what do you think about it ?

https://www.gamblinginsider.com/news/13007/tabcorp-banks-should-be-responsible-for-online-gambling-credit-card-bans

I'm confused what point you think you're arguing here? No one except the card issuers would know whether the payment method is a credit card or a debit card - they are the only ones who could enforce such an action against the end users, because they control that side of the payment network. The government lays down laws for the people and companies to follow, that's the most basic concept that you seem to have a problem with? You quote someone who is discussing fraud, but that is not the main target of such a ban. The government (quite rightly) does not want people to be borrowing money purely for the purposes of gambling, which is extremely wasteful and causes all kinds of societal problems. If you want to gamble with money that you have earned, go ahead - just don't try to gamble with other peoples money.
3354  Economy / Gambling discussion / Re: Spain bans betting adds - no celebrities, no sport sponsorship, no daytime adds on: September 05, 2021, 07:05:50 PM
https://www.sportspromedia.com/news/la-liga-betting-shirt-sponsors-2020-21-season

The new law has knocked down strongly all the preferred advertising options for betting business. They cannot, for example, be on a teams shirt nor celebrities from sports are allowed to promote betting houses or platforms. Also, the adds in TV can only be run late at night. Needless to say that is a torpedo on the finances of several teams and may affect their ability to recruit and maintain the right players.

Teams directly affected:
Quote
Alavés (Betway), Cádiz (Dafabet), Granada (Winamax), Levante (Betway), Real Betis (Betway), Sevilla (MarathonBet) and Valencia (Bwin).

We're likely to see this more and more with other countries around the world, it is surprising that they have been able to get away with it for so long. Gambling can be very destructive and throwing it in front of tens of millions of people around the world every day is bound to cause a few of them problems. Football should pride itself on being a skilled and athletic game, it has little need to associate with these companies that suck peoples money away with little returned. In much the same way as cigarette and alcohol based advertising was restricted in the past, it is going to be stopped in every rational country who wants to help troubled gamblers. Maybe football clubs should be more wise with their budgets in future, than throwing constantly increasing amounts to acquire players.
3355  Bitcoin / Bitcoin Discussion / Re: 59% of Bangladeshi are interested to see Bitcoin legal here on: September 05, 2021, 06:47:15 PM
Someone on r/bangladesh had created a poll on Bangladeshi people's perspective on legalization of bitcoin and other cryptocurrency. Although the sample size is too small, 59% people think that Bitcoin should be legalized in the country. On the other hand, 29% people think that it shouldn’t be legalized  while the rest ~12% don't even know what the heck is Bitcoin.
Though sample size is small, still it represents a certain amount of people from which 59% want to see Bitcoin as legal. This is somewhat good in my opinion.
Link to reddit poll- https://www.reddit.com/r/bangladesh/comments/pdear1/বলদশ_বটকয়ন_এব_অনযনয_করপটকরনস_বধ_হওয়_উচত/?utm_medium=android_app&utm_source=share

You should not take a reddit poll and try to superimpose it on to the population of an entire country. There are many Bangladeshi's who will not even have internet and are struggling to simply survive day to day - they don't have any care for some virtual currency. I remember an actual poll, taken recently in a proper professional manner, that something like 68% of El Salvadorean's have zero interest in Bitcoin becoming one of their two official currencies. For one, there is no restriction on who can vote for such a poll - anyone around the world can pretend to be from that country to influence the results and two, a tech savvy community (who are much more likely to have Bitcoin already and want the price to rise further) are much more likely to vote for such an outcome. You have been totally biased and presented a dismally poor lie.
3356  Economy / Gambling discussion / Re: Do not make curiosity to people around you while you are playing gambling. on: September 05, 2021, 05:41:20 PM
Gambling addiction was a serious problem that happens in almost all countries. Many people go into gambling coincidentally and watch their parents or closest family or friends play poker cards or other card games or even go to offline casinos because of curiosity.

They were playing gambling because of curiosity and never thought much about gambling or how they became addicted to gambling in the future. They are just smart enough to hide their gambling activity from others because they do not want others to know that they like gambling.

I am reading this article that telling she played gambling since eight years old and her dad was a compulsive gambler.

Source: https://www.independent.co.uk/independentpremium/uk-news/gambling-addiction-women-betting-b1769523.html
(Maybe you need to register to the site so you can read full stories).

That is one example of why someone becomes a gambler, but I believe many others known gambling because of other reasons.

You can play gambling, especially if you play online gambling but we never know if what we did in gambling can attract people beside us to follow us playing gambling without knowing. Always look around you before you spend your free time playing gambling and not making others curious about what you did.

So how are you playing gambling? Did you play alone in your rooms or in your home or in the public area or do you have a special room just to spend your time to playing gambling?

It is sad when an adult exposes a young child to gambling activity - as kids can be very impressionable. Like a lot of things in life, bad habits can be learned by how you are raised and the environment around you, even if that is not the intention of the person with the problem. Far too often people with a gambling addiction can be so engrossed in their own life and misery, that they forget the ripple effects that it causes to people directly around them - besides the financial aspect, it can result in them losing self respect, cause anger issues due to lack of control, take up all their attention and many more. If younger generations do not have a guide they might follow in the same footsteps or worse, because they think it is normal.
3357  Bitcoin / Bitcoin Discussion / Re: If bitcoin go high the poor will not participate on: September 04, 2021, 04:57:02 PM
I am thinking that if the bitcoin continue to go up to $100,000 and above.  it will be expensive for the poor people to invest. It will be for only rich people. It will be better for bitcoin will not go so much high so that it will be affordable to everybody to invest and have profit.

I will like to read and learn for everyone here.

Bitcoin was more of a proof of concept than anything else and it worked in an excellent way. It proved that virtual money could be decentralized and kept in personal wallets without any third party interference (beyond the wallet software). That is a ground breaking idea in much the same way as the internet has been able to connect the world together near instantaneously. It should not be considered the end, more like the beginning of a long journey that will require new and optimized refinements to progress - as we see with the many other cryptocurrencies that have spawned since it started, some are coming up with great solutions to the outstanding problems of transaction speed, true anonymity and fees.
3358  Economy / Gambling discussion / Re: Sport bet odds accumulation on: September 04, 2021, 12:21:31 PM
Hi am new to gambling and am a fan of football but a novice in gambling games so I focus more on football betting.
I will like to ask which site gives the best odds on football matches?

It's a bit of a loaded question and will definitely depend on which country you are betting from. Are you looking for cryptocurrency based betting or do you include fiat based betting? Are you looking for American football or soccer, as the name varies depending on where you are based. You would have to imagine that most sportsbooks will be offering near identical odds on every match, many use the same backend provider for statistics calculation and will alter their prices depending on new information. You really have to sign up to the biggest ones in your country and start to do the research yourself - you'll never make it a profitable endeavor if everyone else has the same information as you.
3359  Economy / Economics / Re: Recent advertisement for Visa - what a joke on: September 04, 2021, 08:15:46 AM
I don't watch much TV on the TV itself nowadays, so I don't know if anyone has been talking about this ad or not:  https://www.youtube.com/watch?v=lbvl60_CZl8

"What a load of bullshit", I found myself saying aloud after witnessing that for the first time.  How can it be working for everyone when so many people in the world are unbanked?  And how much of the wording in that was deliberately chosen to mirror the kinds of things we say about Bitcoin?  It feels very much like a pre-emptive first strike on their part, possibly demonstrating some insecurities about the threat their business model now faces.

Anyone else get the sense they had crypto in mind when they wrote the script for it?

It is cringeworthy and far too overdone, but adverts these days find it extremely hard to come up with original ideas. Funnily enough there will be a type of person in the cryptocurrency/bitcoin scene who will act in exactly the same way - they have tunnel vision on one idea only. There are many parallels between payment network providers like Visa and cryptocurrency - the only real difference being that one is decentralized. At present the payment networks have a large scale and all the infrastructure required to handle payments. Once cryptocurrency is able to create instant transactions and at much lower charges then the original payment networks will start to become redundant - but that is still some way off.
3360  Bitcoin / Bitcoin Discussion / Re: Bitcoin Reserves on Coinbase the Lowest Since December 2017 on: September 04, 2021, 06:44:10 AM
Over the past few days, Bitcoin has been steady between important support and resistance lines, which is probably good for its price because it is definitely better than a full correction. Now, the data show us that Bitcoin Coinbase inventory is at a level not seen since December 2017.

Coinbace Bitcoin Balance Go Down
One way to gauge the potential for big Bitcoin price movements in the future is to follow the BTC balance in exchanges.
If this number is high, it means that there is more bitcoin to trade. This is a very general criterion to look at, and analysts use it to determine the likelihood of large fluctuations in the near future.
Data from the popular analytics source, Glassnode, shows that the BTC inventory of the US-based cryptocurrency exchange Coinbase is as small as December 2017.
After a period of balanced BTC inflows following massive May sales, Coinbase has seen a large outflow of bitcoins.
These outputs bring the total inventory to just over 700,000 BTC.
The last time Bitcoin inventory was at this level was in December 2017.


Possible consequences for the price of bitcoin
As mentioned above, the fact that the bitcoin balance of this exchange is low can be considered a positive sign for the price of BTC. Of course, Coinbase is just one of several exchanges, and they need to be considered in order to form any meaningful thesis about price.
CryptoQuant data - another well-known source of analysis - shows us that since July 26, the amount of BTC in the wallets of all exchanges has decreased.
To further support this bullish thesis, there is an inverse relationship between this benchmark and the price of bitcoin, which is definitely shown in the chart below.

In any case, it is important to stay vigilant and monitor the chart. Despite the positive closing of the monthly candlestick, it is still important for bitcoin cows to avoid breaking the 200-day moving average as support, while also following the recent positive price changes.

Source: https://cryptopotato.com/bullish-bitcoin-reserves-on-coinbase-the-lowest-since-december-2017/

It's very interesting to see this sort of information in a nicely formatted graph. If you picture Coinbase as primarily driven by retail customers who hold funds there, then the evidence would seem to suggest that individuals have been selling their holdings and that money has steadily moved off the platform. I don't think it's just a coincidence that companies like Paypal were announcing their own moves into Bitcoin since that dip started and it's likely a lot of financial institutions/whales will be contributing to that drop. Who knows what it will lead to in the future, but it is probably bad for Bitcoin in the long run if it is being consolidated into fewer and fewer wallets.
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