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3381  Economy / Economics / Re: Why Inflation is a big problem for a country? on: February 12, 2022, 01:37:05 PM
Inflation is not really a big problem, inflation beyond target is. And it is not that there is no way to stop it, because economies desire it in the first place. So it is not a question of whether it is impossible to stop inflation or not as there is actually no attempt to stop it. In the current economic system, inflation is indeed an integral part. Inflation incentivizes a lot of things. Wages increase, loan value decreases, consumption increases, and so on. So prices of goods and services have to increase, albeit moderately.
Don’t  know about that, but inflation has destroyed a lot of economies around the world, take Venezuela as an example. So, I can’t really see how inflation would be regarded a good thing, although I do understand that there is always something good about everything that happens, but some things are way too bad that they cause more harm than good and inflation is one thing that I see as such.
 
In the country where I am living, things has gotten quite bad , lots of things in the market you can’t even afford to pay for them and it’s all because of inflation. You’d see products you used before, and now they will not only get costly, but the quality and the quantity will be reduced as well.

I'm now a broken record here. Inflation hasn't destroyed economies, too high inflation did. Although there are more or less a handful of countries across the world that have negative inflation, the rest have positive inflation. Even those countries that have negative inflation did not prefer it that way. They simply failed to hit their target inflation.

If inflation destroys an economy, each country today should have already crumbled. If inflation causes more harm than good, no country, instead of all, should have set a certain inflation level.

Without inflation, everything will fall. Deflation happens.
3382  Economy / Service Discussion / Re: bitex.financial -- SCAM or TRUSTWORTHY ? on: February 12, 2022, 12:57:49 PM

Anyway, it's good that you're back in the forum. Welcome back aboard. And you've done a nice job coming back after five years of inactivity just to consult users here regarding this obvious scam. You must have been convinced that it's a scam with the help of the responses here.

Of course, your heart would like to think it to be real. That must be the goal of scams. To somehow make you feel there is indeed that big amount waiting for you. But why the expiration? If the money is yours, it must be given to you anytime.

And the scammers are asking way too much. Greedy scammers! 0.5BTC is not to be given away easily. They should have asked for a much smaller amount if they wanted to succeed.
3383  Bitcoin / Bitcoin Discussion / Re: Bitcoin Users Accused of White Supremacy on: February 12, 2022, 12:31:37 PM
Same old same old accusations that have died on their own due to lack of merit. But this new white supremacist accusation against Bitcoin is rather surprising. How the heck did they come up with such an idea?

Satoshi Nakamoto itself is not known to be white or black or whatever. Surely, he/she/they know the English language well, and yet the name is Asian, Japanese in particular. There's Mayor Suarez who's probably of Hispanic Origin. There's Mayor Adams of New York who's black. There's Andrew Yang who's of Asian or Taiwanese descent.

I mean, how did they associate Bitcoin with white supremacy?
3384  Bitcoin / Bitcoin Discussion / Re: Can Bitcoin overtakes USD dollar? on: February 11, 2022, 03:12:47 AM
Just like the above user, I want to know what you mean by overtake.

If by overtake you mean that the number of Bitcoin users will surpass that of USD users, it eventually will. Time will come when Bitcoin will be used as an alternative currency in almost, if not all, countries in the world. The USD, on the other hand, is accepted in day to day transactions in very limited countries.

If by overtake you mean that Bitcoin will dethrone USD in the US, that's not going to happen. USD will stay. It may cease to be a global reserve currency in the centuries to come, but it will not be replaced by Bitcoin as the official currency of the US. It may take several forms but it will never die because of Bitcoin.
3385  Economy / Economics / Re: How will Bitcoin behave in the approaching crisis? on: February 11, 2022, 02:44:23 AM
It's not as if the global economy as well as domestic economies of countries have been running smoothly ever since Bitcoin was born. Bitcoin has been around for more than a decade and it has seen a number of crises, a recession, and stock market crashes. As a matter of fact, there is that more recent 2020 economic recession largely brought about by the pandemic. And countries are still recovering from it until now.

In what was called the Black Monday and Black Thursday some time in the first and second quarters of 2020, the global stock market crashed. We have seen Bitcoin lost half of its price value. Whether it was brought by the global crisis or not, we don't know. But there must be a connection.

On the other hand, however, we have seen how Bitcoin has been rising in adoption where there is monetary crisis. In Venezuela, for example, or in Argentina or Turkey, Bitcoin became an attractive alternative after their fiat is fast losing value.

So, all in all, Bitcoin is indeed part of the global economy but it is also unique at the same time such that it could actually play the role of a hedge or an alternative. So in contrast to the traditional market, it will definitely be less affected.
3386  Economy / Service Discussion / Re: bitex.financial -- SCAM or TRUSTWORTHY ? on: February 11, 2022, 01:42:51 AM
Because they said i have 3.65 BTC there, but i must put some (little) cash to reach it....  Undecided

LOOOOOOL! Grin

Wait a minute, you've been here in the forum for around 7 years, why does it sound like you're just a newbie? Not to mention that, based on your bitcointalk account, you're probably immersed in crypto well enough, at least enough for you to understand the technicalities of mining, so why the noob question? And you've just logged in after 5 years of inactivity to ask this question?

Anyway, that's 99.9% a scam. Come to think of it, you haven't even heard of the exchange, how come you've got that number of BTC in there?
3387  Economy / Economics / Re: Why Inflation is a big problem for a country? on: February 11, 2022, 01:07:04 AM
Inflation is not really a big problem, inflation beyond target is. And it is not that there is no way to stop it, because economies desire it in the first place. So it is not a question of whether it is impossible to stop inflation or not as there is actually no attempt to stop it. In the current economic system, inflation is indeed an integral part. Inflation incentivizes a lot of things. Wages increase, loan value decreases, consumption increases, and so on. So prices of goods and services have to increase, albeit moderately.

So all those media talking about the Inflation problem is total nonsense? I know Inflation is good in certain conditions like when we have a lot of unused resources and labor force then inflation can boost production. But too much inflation will slow down the economy because interest is high and peoples are more focused on savings, not spending. Less spending = fewer demands, fewer demands = less production, less production = less labor which causes the unemployment problem.

I do not think it's impossible to stop but we don't need to stop it on the other hand we don't need unnecessary inflation either.

I'm not saying inflation talks are a total nonsense. The media talking about inflation is not nonsense. But the game of inflation is not its presence or absence, because whether we like it or not, inflation has to stay. The discussion on inflation is not on inflation per se but on its level. It's not about wiping out or preserving inflation. It is simply about keeping inflation within tolerable levels. Too high inflation is as bad as too low inflation.


Inflation incentivizes a lot of things. Wages increase, loan value decreases, consumption increases, and so on. So prices of goods and services have to increase, albeit moderately.

The after effect of inflation is not generally good for the people. How moderate can things increase when the value of money in the pocket can not measure up to get what is in need.. The rising inflation rate doesn't help because it is creating hardship more to the society. It is not controlled and the government not taking good step.

As I've said, if inflation is kept within target, it must be good rather than bad. However, if inflation is rising beyond the maximum tolerable level, it is definitely bad. If the government fails to tame it down, it must be worse.
3388  Bitcoin / Bitcoin Discussion / Re: Russia treat crypto as currency lets tell what is this on: February 10, 2022, 09:49:19 AM
If someone does not want to read Russian articles, then I found good information in English, where everything is written very well and clearly. But it says only about the bill, which will change during the discussion.
Russia set to recognize crypto as a form of currency: report
https://www.theblockcrypto.com/linked/133586/russia-set-to-recognize-crypto-as-a-form-of-currency-report

So, personally, as someone who's living in Russia, you don't think this declaration truly amounts to something?

I was actually quite surprised how things have taken a U-turn rather quickly. There must have been a heavy reason for it. After all, the earlier proposed ban on crypto last month must have been backed with more or less sufficient research.

However, even the latest declaration which seems pro-Bitcoin is probably not, not when it could only be used "with full identification, through the banking system, or via licensed intermediaries." And certainly not when "transactions of over 600,000 rubles (roughly $8,000) will have to be declared or will constitute a criminal offence."
3389  Other / Beginners & Help / Re: I found something interesting on: February 10, 2022, 09:10:34 AM
To be fair, though, it is an accusation section so it does not really mean that projects having accusation threads there are automatically scams. Let it be known that a lot of people immediately scream scam every time they encounter something they don't feel right. That's even before enough research is done.

Secondly, the majority of new coins introduced to the market are probably scam. Most of them don't have accusations in that particular section. Moreover, in its broader sense, even a lot of popular coins nowadays, those that are riding the hype, are scam. Most of them are simply created solely for the sake of hoping it could gain value. That might include the token you're a fan of.
3390  Other / Beginners & Help / Re: after 2140 on: February 10, 2022, 08:31:49 AM
Your thoughts are not weird. As a matter of fact, you are the nth person to have asked this exact same question. What is actually weird is you raising this question at this point, after years and years of discussions on it and probably hundreds, if not thousands, of articles written on it.

Anyway, 2140 is more than a century from now. It is not for us to know the state of Bitcoin or mining at that time. Only time can tell. What is certain is that huge mining companies will definitely desist from operating if ROI is negative for years and years. But since the difficulty will also decrease as a consequence, I don't think mining will ever stop, provided Bitcoin hasn't grown worthless. So the worst thing that could probably happen is that mining will take several steps back, away from being a huge industry. It might go back to the day when it is being done by individuals in their homes.
3391  Economy / Economics / Re: Why Inflation is a big problem for a country? on: February 10, 2022, 08:08:24 AM
Inflation is not really a big problem, inflation beyond target is. And it is not that there is no way to stop it, because economies desire it in the first place. So it is not a question of whether it is impossible to stop inflation or not as there is actually no attempt to stop it. In the current economic system, inflation is indeed an integral part. Inflation incentivizes a lot of things. Wages increase, loan value decreases, consumption increases, and so on. So prices of goods and services have to increase, albeit moderately.
3392  Bitcoin / Bitcoin Discussion / Re: WSJ: How the Feds Tracked Hacked Bitfinex Funds on: February 10, 2022, 07:39:53 AM
The case has grown fuzzy after reasonable doubts are raised. I have actually been doubting the facts stated by the justice department ever since I read the news. I just couldn't believe how lax these two launderers seem when they are actually hiding billions of money. Not only are they keeping a huge amount of treasure, this treasure is stolen. They must have been very much aware that the authorities are waiting for just a single false move from them.

What I'm somehow convinced of is that they are not the hackers, although it is mind-boggling how the hacker has trusted them so much so that he/she sent all the funds to them to launder. Not to mention that the way they do things, they don't seem to be experienced and reliable.

What's sure at this point is that what really took place is not the one that is being narrated in the media.
3393  Economy / Gambling discussion / Re: Sportsbet.com.au in probelms for unwanted gambling advertising on: February 10, 2022, 07:07:57 AM
I am really amazed at how the government acted on this. I can only wish that spam laws across the world are as strictly implemented as the spam laws in Australia. I am not only awed by the fact that the spam laws in the country are actively and strictly implemented, I am also quite surprised at the enormity of the penalty.

Truth be told, my email is pestered with spam messages. I don't even know how I ended up receiving many of them. Even my phone is also receiving spam texts every now and then. I don't know if my country has spam laws. If there are, they're surely not implemented.
3394  Bitcoin / Bitcoin Discussion / Re: Hypothetically keeping your bitcoin when you die? on: February 09, 2022, 04:58:34 AM
You made me laugh. You are the only person I know who is preparing material wealth for the afterlife. Rebirth, at least to the majority of those who believe in it, is mostly understood as spiritual. If not, at least we will be reborn in another life form. But here you are preparing for the possibility that after we die we might one day wake up as the same person. With this, I don't think we should proceed with the discussion.

Perhaps we should just begin to live the present. Live it all because we only live once. Make the most of your Bitcoin because when you die there's no more Bitcoin.
3395  Economy / Exchanges / Re: Help us to sell crypto in Colombia on: February 09, 2022, 04:04:09 AM
Are you sure you'd still want to stick to the use of credit cards and banks when her bank account and credit card were already closed because of it?

With the amount of money that she will be receiving, it is expected that it will trigger certain alarms. Perhaps she needs to spread the conversion in moderate amounts.

There are various P2P platforms that are available. She should make use of it. And, no, you're wrong that Binance P2P does not include COP on their list. It is offered there. And there are various ways of receiving money. She shouldn't focus on bank deposits alone. She could make use of a number of money remittance services. She could also order some cards, in addition. Crypto ATMs could also help. Or if she's comfortable with meet-ups, it might also help.
3396  Economy / Economics / Re: Bitcoin from the economic perspective on: February 09, 2022, 03:38:11 AM
Wait a minute, what do the economic performance and statistics of countries tell you about the potential economic benefits that they could get from approving Bitcoin as a currency? I'm asking this question because I cannot see a connection.

Would I understand the economic implications of Bitcoin's approval in countries by looking at their economic performance? After all, Bitcoin and the currency economy belong to a completely different paradigm. The failure of the current economic system does not necessarily suggest Bitcoin as a solution. You are making a huge leap here.
3397  Economy / Service Discussion / Re: How is my new website? Coinmarketcap killer on: February 09, 2022, 03:10:43 AM
Obviously, it's far from finished, but at least the UI looks good. You've got a good start.

I particularly like that when I search I don't even have to enter or click on the specific coin before the information is made available. It is immediately there. It is also great that you have a currency converter.

I'm not making a whole review of your site. I'm only taking note of a few things.

1. Could you show the total volume in whole numbers, the one on the upper left hand corner? It is confusing if you use decimal and yet it is in billions.
2. I think a coin's ticker should be in capital letters. Bitcoin is BTC and not btc.
3. What's the use of the other search bar?
4. The column indicated as "Coins" is a bit misleading. Perhaps Current Supply is better or CMC's Circulating Supply.
5. What do you mean "Last price"? Perhaps Price, Current Price, Latest Price, Present Price is better.
6. When you click on a particular coin, it would be best to provide a brief description of the coin or the project, even just as a tab alongside Overview, Top pairs, and Prediction.
7. What is the difference between trade and exchange? And why Binance and FTX?
8. Don't you think a button for Buy Bitcoin could be helpful?

Anyway, the goal is not to kill CMC. Just be the better alternative.
3398  Economy / Gambling discussion / Re: [ BOXING POLL ADDED ]: FURY vs WHYTE - CONFIRMED on: February 09, 2022, 02:22:02 AM
~snip~
The truth is that the one that is holding all the cards and the power is Fury, he is the champion and the one every recognizes as the best heavyweight boxer at the moment, an unification fight is on sight and we could get it as soon as the end of this year, Fury does not really need this fight and most likely it is just a way to keep himself busy until we see who is the one that wins between Usyk and Joshua.

That's right. This is more like a conditioning fight for Fury. The Joshua-Usyk rematch schedule is yet to be finalized, probably happening in April or even later. After that, both fighters will still undergo some recovery time. That would take more months. So Fury will have to find another opponent to keep his body active while waiting for that possible unification.

It so happened Whyte ended up the one chosen. So Whyte is really lucky he's given the opportunity to fight the champ. And not only will he be receiving the biggest paycheck in his entire career, much more than his net worth, he's also given the opportunity to upset the reigning champion. This is now or never for him so he better be giving his all.
3399  Other / Beginners & Help / Re: I finally find my way to this forum on: February 09, 2022, 02:01:33 AM
So here I am, new to bitcointalk today what and what benefits can a newbie gets from spending their time on this forum?

The "benefits" you can get off this forum is the exact same "benefit" you can get by joining various forums/communities concerning whatever topic — you get to talk to other people about that certain topic.

Probably not. The resources found in this forum is incomparable to the resources found in other forums, definitely more than all of theirs combined. History happened here. The baby steps of Bitcoin took place here. Discussions as to the official Bitcoin logo, number of decimals, and many others happened here. If OP is interested to read more about the past, this forum can offer a lot, discussions that are so rich, discussions in which Satoshi himself/herself/themselves participated.  

But as far as current discussions are concerned, I agree with you.
3400  Bitcoin / Bitcoin Discussion / Re: $3.6 billion in Bitcoin seized from Crocodile of Wall Street on: February 09, 2022, 01:39:15 AM
What's with the very large images? You can actually narrow them down by placing width=400 or 500 or whatever size is preferable to you right after [img. Like this, [img width=400]. Perhaps you preferred it this way, but it's a little irritating to the eyes, especially because you posted more than one.

Anyway, I should congratulate the law enforcers for finally seizing the stolen Bitcoin. Although not everything was recovered, at least around 80% has already been confiscated. That's a huge success.

And, unlucky and extremely foolish for both Lichtenstein and Morgan for keeping the private keys in an online account. Both of them are either stupid or too complacent to store online the keys to the wallet where the billions in Bitcoin was stored.

The authorities must be very close to the real culprit.
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