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3381  Economy / Speculation / Re: Exchanges Bitcoin Reserves on: March 24, 2021, 11:51:13 AM
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like inflow on exchange = dump, outflow = pump. But not all of the time.

I think that this correlation doesn't seem right.
When the crypto exchanges want to increase their Bitcoin reserves,they must be buying more BTC,therefore increasing the demand for BTC and probably having an impact over an increasing Bitcoin price.
Therefore inflows of BTC inside a big cryptocurrency exchange would have to lead to a price Bitcoin pump.
Anyway,such correlation hasn't been proven so far.I don't know the exact amount of Bitcoin reserves,that the big crypto exchanges are holding.There's no accurate data about this.
3382  Economy / Economics / Re: Over the Past 300 Years, No Fiat Money Has Escaped Going to 0 on: March 24, 2021, 06:55:53 AM
Some are afraid that we will return to zero, and every year we move away from it. Over the Past 300 Years, No Fiat Money Has Escaped Going to 0
Listen https://podclips.com/c/maVy2k?ss=r&ss2=bitcoin&d=2021-03-22

This is simply wrong.The US dollar and the euro have never gone to zero.They might become close to worthless in the future,but that is highly unlikely to happen,due to their status of a legal tender.Their value can never become zero,but it will decrease for sure.The governments/central banks of the western world will never get rid of their favorite tools.
The article seems to be wishful thinking by a cryptocurrency maximalist.
3383  Bitcoin / Bitcoin Discussion / Re: Bitcoin's information insurgency on: March 24, 2021, 06:24:18 AM
So to summarize this wall of text-The Bitcoiners are mostly young people,so they are communicating via memes,social media,etc.We already know that.There's no need for somebody to explain this.
I like the idea that the Bitcoin community is somehow "dominating the narrative",by forcing the mainstream media to talk about Bitcoin,even though the mainstream media might not like Bitcoin.This is basically free advertising for BTC. Grin
We live in a post-modernistic world and authority isn't that respected,like it used to be in the past.
That's why the Bitcoiners don't have that much respect for people like Warren Buffet and institutions like the International Monetary Fund or the Federal Reserve System.
3384  Bitcoin / Bitcoin Discussion / Re: Can Bitcoin Adoption be possible? on: March 24, 2021, 06:05:34 AM
Bitcoin adoption is happening right now,so your question is pointless.
The problem is that Bitcoin adoption is just too slow,mostly because of how expensive and difficult it is to buy Bitcoins.I hope that this problem will be solved,sooner or later.
I think that the Bitcoin Core blockchain and the fiat financial system will continue to exist in the next few decades.Central bank digital currencies and cashless societies cannot replace paper money in the near future.
The BTC blockchain will continue to improve and it will grow even further,by getting millions of new users.
3385  Bitcoin / Bitcoin Discussion / Re: Is Bitcoin a scam: The long debated argument discussion by Bloomberg - Quicktake on: March 23, 2021, 12:23:37 PM
There's no need for me to watch this video.
I guess that the question "Is Bitcoin a scam?" is rhetorical.The FUDsters will keep asking this question until the end.
I can assume that this is some BS combined with a bit of FUD.Even the comments under the tweet are BS and FUD.

Quote
Love how everyone becomes so philosophical whenever bitcoin dumps.

Just stfu and buy the dip.

This is the only good comment under the tweet.Just stop thinking and buy the dip. Grin

3386  Economy / Trading Discussion / Re: Online Gambling 'or' Day trading cryptos- Which one is more lucrative? on: March 23, 2021, 12:04:44 PM
Why the hell are you even comparing gambling to day trading?
Those two cannot be compared.
Nothing is lucrative,unless you put some effort and work hard to learn and practice.
Gambling is mostly about luck.All the talk about having a strategy in gambling is just fooling yourself that you have control over the game and creates a false sense of confidence.Most gamblers are delusional.They think that they can win against the casino.In the long term,everyone loses.
On the other hand,luck isn't a factor at all in day trading.It's all about learning the markets and being persistent.

 
3387  Economy / Economics / Re: Food Prices Are Soaring Faster Than Inflation and Incomes on: March 23, 2021, 06:43:39 AM
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Cryptocurrencies being known for innvation and flexibility, could this issue be addressed by rolling out a new crypto token designed to fight global hunger?

Do you think that a new crypto token can protect us from a bad crop season and somehow stop climate change?Global hunger can be reduced by increasing the agriculture production in the third world countries.
The agriculture sector of those countries should be industrialized and mechanized.
There's a lot of potential there,but lots of capital should be invested in Africa,Asia and Latin America and most of the underdeveloped countries aren't very "business-friendly".
I think that it's too late to do anything to stop the climate change.We will have to adapt and learn.


3388  Bitcoin / Bitcoin Discussion / Re: Bitcoin is the central bankers trojan horse out of fiat. on: March 23, 2021, 06:28:02 AM
They can buy all coins,but who will be selling and for what price?
They can buy all miners,but what if Bitcoin core gets forked and all the true BTC fans run away and move their community.
Do you think that all the central bankers around the world are some kind of united secret elite that has the one and only purpose to buy all Bitcoins and all BTC miners?This is hilarious. Grin
If you want an altcoin that can be mined by everyone,then why don't you just create one?
I'm sure that the value of such shitcoin will be no different than zero.
Why are you insulting other people,while posting your bullshit conspiracy theories and stupid altcoin idea?
3389  Economy / Economics / Re: OpenAI: Artificial Intelligence will generate wealth to pay each adult $13,500yr on: March 22, 2021, 12:19:18 PM
This guy sounds as if he invented the economical "perpetuum mobile" and everything will be perfect from now on.The AI will take care of everything and we will be just reaping all the benefits without any efforts and hard work.Robot servants will do all the work and we will be zipping margaritas on the beach. Grin
This utopia might happen after 500 years(if there's no Apocalypse),but there's no point of discussing it now.
I assume that this conman will be selling his miraculous AI trading bot for $$$ and eventually scamming lots of people,when it turns out that this is another "snake oil".
3390  Bitcoin / Bitcoin Discussion / Re: Why Bitcoin is trash on: March 22, 2021, 11:58:50 AM
Freedom is a concept.We cannot be truly free.There are always limitations and dependencies in everybody's life.Just go on a lonely distant island away from the civilization and then you will be 100% truly free.
Bitcoin cannot "represent freedom" because BTC is only a currency/financial asset.
You are whining about ID verification and KYC.Well,verifying your identity is a requirement for using financial services nowadays.If you don't want to verify your identity,just use the darknet.



3391  Bitcoin / Bitcoin Discussion / Re: Good news for Nigerian crypto enthusiast on: March 22, 2021, 06:31:49 AM
This was pretty much expected to happen.Countries,that are trying to oppress cryptocurrencies are going to face great difficulties,with controlling all the "illegal" crypto transactions.Making crypto payments and trading legal is the only way to go.The problem is that countries like Nigeria aren't very persistent with their policies.
Today there might be a crypto legalization,but after a few months,the central bank or the government might try to impose a new cryptocurrency ban again.
By the way,what is this logo?It looks pretty strange.Is this the Nigerian central bank logo? Grin
3392  Bitcoin / Bitcoin Discussion / Re: Bicoin is making many rich how did satoshi come about this idea on: March 22, 2021, 06:05:22 AM
I'm pretty sure that Satoshi would never imagine that the Bitcoin price might reach 60K USD at some point.
He would have thought that the price of one Bitcoin would stay somewhere around one dollar or maybe a few dollars.However,we don't know his predictions about the future Bitcoin prices and I'm sure that the Bitcoin price was NOT his top priority.We can only guess about his thoughts in regards of the transformation of Bitcoin into an investment tool.He is kinda disappointed,probably.
3393  Economy / Trading Discussion / Re: What Is Regret Avoidance on: March 20, 2021, 06:41:39 AM
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Investors may stick to the poor security plan or pay even more money to it, in the hope that somehow recover the money and grow.

This seems more like the "sunk cost fallacy",when we stick to something,only because we have invested time,money and efforts and we don't want to let it go,because all the money,time and efforts,that were invested will be wasted in the end.
You can call it '"regret avoidance",but it's basically the "sunk cost fallacy" theory.
Feeling regrets is inevitable.Making wrong decisions is inevitable sometimes.Learning from your mistakes and improving yourself is what makes successful people stand out from the crowd.
3394  Bitcoin / Bitcoin Discussion / Re: Is Bitcoin better than Fiat? on: March 20, 2021, 06:11:39 AM
Is BTC better than fiat?It depends on what you are using it for.
I would say BTC+altcoins have become more similar to digital fiat,due to the KYC policies,which are required,if you want to use a crypto exchange platform or if you just want to buy cryptocurrencies.
Nowadays crypto exchange platforms look exactly like the fiat FOREX trading platforms.The only difference between crypto and digital fiat is the price volatility and the potential profits you are going to make.
If you comparing keeping BTC in your own cold wallet with keeping fiat money in a bank account,I would say that keeping BTC is definitely a better option,despite the fact that bank deposits are guaranteed by the state(to a certain amount).

3395  Economy / Economics / Re: $69 Million Beeple Art Buyer Revealed as NFT on: March 19, 2021, 12:21:18 PM
There is a great short documentary on YT (Cold Fusion channel) discussing this topic https://www.youtube.com/watch?v=x3nmAX3gAlw . I am not even going to try to understand this trend because I would have to have that kind of spending money to even comprehend, but one YT comment summed it best '
Quote
When money is worthless things that are worthless takes its place!'

That was funny,but money aren't totally worthless.
This "piece of art" is totally worthless,if you ask me.If I make all my social media posts into a painting,then make the painting into an NFT,the question is will this NFT "piece of art" sell for millions of dollars?I don't think so. Grin
The guy,who paid 69 million for this piece of s*it simply wasted his money for nothing,unless he performed some kind of money laundering or tax evasion.
3396  Bitcoin / Bitcoin Discussion / Re: You think CBDCs will threaten Bitcoin? Think again. on: March 19, 2021, 11:46:03 AM
Here's a quick clip from 2020: https://www.youtube.com/watch?v=rpNnTuK5JJU

In summary, with cash, people have privacy. With CBDCs, the government will have total control. It's really stunning how some people actually think that this is what's going to threaten Bitcoin.

CBDCs won't threaten Bitcoin.The governments/central banks behind those CBDCs can potentially threaten Bitcoin,by forcing their citizens to dump cryptocurrencies and use only the Central Bank Digital Currency.
CBDCs are a trend that will continue.Governments want cashless society and full control over all transactions.Bitcoin and the altcoins might survive as an financial investment asset,that is purchased only for the sake of selling at a higher price and getting profit.
3397  Bitcoin / Bitcoin Discussion / Re: Elon Musk name once again used to fool people by hackers! on: March 19, 2021, 06:35:05 AM
Sometimes exposure will eradicate such petty scams, greed will definitely lure a lot of newbies into the hands of these wicked scammers. Imagine someone promising to double your Bitcoins in 30 minutes isn't this enough indicator to alert you it is an obvious scam? The max supply of bitcoin is fixed how on earth will such a person be able to manufacture ×2 of your bitcoin within a timeframe of 30 minutes? I hope a lot of people learn through this thread.

Sometimes when people see a great promise for a major benefit/profit-their minds stop working.
Even I fell a victim into a BTC scam last year.I've lost only 100USD worth of BTC,so I was lucky I guess.
I just wanted to test the service offered by the scammer with a small amount of BTC and I got scammed.
I was expecting to be scammed,but I still got surprised,when I was scammed. Grin
I get why people are falling for this "double your Bitcoins" scam,even though the scam doesn't make any sense from a logical perspective.
3398  Bitcoin / Bitcoin Discussion / Re: Visa Plans to Enable Bitcoin Payments at 70 Million Merchants on: March 19, 2021, 06:13:02 AM
I don't understand why VISA would enable stablecoin payments.What's the benefit for VISA?More fees?
Stablecoins are backed by fiat money and fiat money are already used by payment networks like VISA.
It looks like stablecoins are just another layer in the payment system,that we don't need.
It will be great,if they enable BTC payments,but who is going to buy something with Bitcoin,since everybody is waiting for the BTC price to hit the moon. Grin
3399  Economy / Speculation / Re: Don’t Panic IV on: March 18, 2021, 12:27:22 PM
Who is panicking?
The current BTC market has nothing to do with the 2017 BTC market.The 2017 price pump was more artificial,because it was caused by the scam ICOs,BTC hardforks(the investors bought more BTC just for the sake of getting free BCH and selling it for easy profits) and the BTC futures trading hype.
The 2020/2021 price pump is caused by legit institutional investors buying actual Bitcoins(not BTC futures or derivatives).
There's a huge difference.The 2021 bull market hasn't ended,but I won't be worried,even if it ends. Grin
3400  Bitcoin / Bitcoin Discussion / Re: Morgan Stanley, a big US bank offering wealthy clients access to bitcoin funds on: March 18, 2021, 12:10:23 PM
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Morgan Stanley becomes the first big U.S. bank to offer its wealthy clients access to bitcoin funds, this is a big move that will help in bitcoin adoption, the investment bank with $4 trillion in client assets will be limiting bitcoin investment to as much as 2.5% of their total networth.

No,this is not "a big move that will help in Bitcoin adoption".
It sure helps for the positive image of Bitcoin,but this is not enough for mass BTC adoption.
2.5% out of 4 trillion USD is 100 billion USD,but most of the Morgan Stanley clients won't choose to buy BTC.
I'm not sure that they are actually going to buy any real BTC.Perhaps Morgan Stanley will just bet some money on the price movements of BTC and their customers will just get a bunch of numbers in their bank statements.
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