I don't think this will be over any time soon. The country of Sri Lanka will need help in overhauling its country system. but who will help? borrow back from the IMF? it's a bad choice Depending on China bid, what has Afghanistan done after taking over the government?
What is clear is that we will see this country in a bad state.
And the worse is still to come, history can teach anyone that, and from personal experience, the next few years will be just as nightmarish as the previous. First thing, when everything is going down the drain you need to take action, and since the leaders are either fleeing or retreating in the shadows, there is a power vacuum and everyone who knows what to do won't be the one voicing his opinion because the measures will mean the end of his career. Second, the country doesn't have money, so they need money, in order to get it you need to make cuts or get a loan that you will need to pay back with interest, so who is going after this crisis to agree on making expenditure cuts and who will agree to pay more taxes to repay the future loans? Third, corruption, when it reached this stage, is no longer about the ruling politicians, it's everywhere, from the highest level to the lowest in every part of the administration and public services, how are you going to get rid of it? It took us 30 years after the fall of communism to get rid of most of it and it's still somewhat present, and this only with really bloody reforms and under supervision from the EU, and on top of that, we weren't that corrupt compared to this even during the 90s. So unfortunately for the ones cheering and taking a swim in the pool the real cold shower is going to come, when you get sick the operation itself is not painful, the recovery is, and if not done correctly you're going to end at the hospital again. |
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Japan GDP was top 5 in the world next to USA,China.Inflation in the Japan was the root cause for the variation in the GDP/Debt ratio.The economic conditions of the Japan was unique over a far period of time.Japan was not affected after the Irosima Issue,they come back to the stable situation by the stop of nuclear production.So their economy was easily recovered one.Japan will be the base economy for many of the very small countries.
How can you make so many mistakes in just 3 lines of text? Japan is the third-largest economy in the world, inflation was never a factor in Japan, actually, Japan experienced deflation, and there was no Irosima issue, maybe you're thinking of Fukushima but god knows how you can mistype that so bad, and how Jpana will be the base for very small countries, that's another mystery. Although Japan has the status of being the third largest economy in the world, still the impact of COVID-19 and also the Russian invasion of
Ukraine it dealt a hard blow to the Japanese economy. There is a lot of data that we can find on the internet that Japanese household spending
has decreased, it is due to rising energy prices, eventually suppressed the pace of business in Japan. Oh really:? Household spending slipped 0.5% in May from a year earlier, dragged down by lower expenditure on vegetables as well as cars, of which supplies have been hit by chip shortages and supply chain disruption. So a decrease in spending of 0.5% in a year is a hard blow? the assassination of Shinzo Abe at least affected the Japanese economy a little, although not so much. And also based on
the information I read on the Asahi Shimbun, the killer and his family did go bankrupt and it was proven that economic difficulties could be
a trigger for crime.
How can you even quantify this? How can you claim it has affected the economy when it happens just 5 days ago? |
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It depends on the fees, if low fees apply, I have no objection to using these ATMs. There are some Bitcoin ATM machines ( Bleskomat: The next generation Bitcoin Lightning ATM) that accept lightning payments (no on-chain fees) that make the fees low and confirmations are instant which means more users will use them, imagine paying 201 and getting $200 (a dollar fee). Unfortunately, it's not like the fee will be 1 cent for users, that advertisement covers the internal transactions that the owner of the ATM has to pay. Let's assume an ATM charges you 1$ per transaction, the same ATM that cost 2500E as a ready machine, an ATM for which the owner will have to pay maintenance, rent if it's not his location, and electricity and internet, and make a profit. ATMs have those fees because a lot of people have to make a profit, the ATM provider, the exchange that facilitates the transactions, the owner of the ATM, the owner of the location, and so on and on, and if you already have 35 000 ATMs in a country you can't expect that each will get 1000 customers a month either. Increase in "installations" not usage, nobody but the operators of those know if there is an increase in customers or not, and even that increase is concentrated in North America, with the US having an unbelievable 88% of the total, so it's more like one country is getting more and more and the other are watching from the sideline. The numbers are really crazy, all of Asia has 0.7% while Canada with 1% of the population has 6.3%. The fact that Portugal has only 6 such devices surprised me, considering that country is often mentioned as one of the most desirable when it comes to cryptocurrencies - but it seems that this is not a decisive factor affecting the interest in this type of service.
Probably a cumulation of factors, from laws and regulations to habits of the consumers, France to has only 5 ATMs, but for a while it had this: https://coinatmradar.com/manufacturer/122/keplerk-crypto-service-provider/since all links are offline, probably it didn't appeal that much to the population. |
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But it's against the $, and if we have a printing contest the US would win by one hell of a margin. So, why isn't the opposite happening?  The Fed has raised interest several times already. So the limit is not the amount of money printing, is just how much you can raise the rates. If the ECB would have raised it in tandem with the FED....there would have been no consequences?  |
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Sinc ethe pandemic I've learnt there's a lot of manufacturing that still gets done in Europe and a lot of manufacturers can open and expand their operations extremely quickly (with the right investment - and they didn't see me too hard to be sourced afaik) - even for things less related to the pandemic.
Of course, a lot of manufacturing is still done here, just because some smartphones and tablets are done in China is not that everything is made there, not even Huawey phones were entirely made in China or by Chinese manufacturers. Those trillions in exports are made out of stuff being produced here, and a lot if made and a lot could be made but the main problem is the workforce! At least here in the middle of Europe, we have reached employment levels above 2019 and yet everywhere you look there are jobs openings, there are plans for factory expansions but no workers to do that, and very fragile logistic chains that have just barely recovered from the pandemic and still problem with getting all the stuff shipped around the union, for example, one of the largest hub operators is planning 5 logistical centers for better linking through the TEN-T routes... But there are no construction workers, no truckers to haul all that merchandise, and so on. Kind of ironic, we could produce more but we don't have the workforce and if we do find a solution we will simply not be able to ship all the extra goods around. Some driverless trucks, and when I say some I mean thousands would be a godsend. To Kevin Nolan, the CEO at GE Appliances, all this fretting about high costs in the US is overdone. Yeah the guy is right, when you're whole manufacturing line is automated and you have fewer and fewer people in the actual process the cost will start to be the same all over the world, and with raising wages everywhere in the world is not like you're going to get quality workers for 1/10 of the pay anymore anywhere. If you produce stuff that can't be done cheaply and efficiently by machines like a lot of the clothing yeah, the solution is still Southern Asia or South America but for gadgets, electronics, and all kinds of machinery it makes no sense anymore. Plus there is another risk, you might have no problems when producing in the Philippines for Sweden for example, as there will be no tension between those two, but maybe the Philippines will have a disagreement with Australia which supplies the raw material for the manufacturing and here you go, because of some regional conflict you're out of business. |
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And everything indicates that it will continue to fall, if the ECB does nothing, which it looks like it will not do, at least until after the summer. In reality, the ECB is breaking its core mandate to control inflation, but it is at a crossroads because with the current monetary policy it does not control inflation, but directly encourages it. However, acting to stop it could end in an economic disaster that would start with the countries of southern Europe, so it is in a catch-22 situation.
And for a time it will be a good move if they stay silent. Trying to prop the currency right now is just a waste of time and money, and not everyone wants a powerful euro, what the ECB is waiting is for is the gap in inflation growth that will happen sooner or later this year and for the obvious demand destruction that will come probably late autumn. That is the moment when, if the consensus is that a stronger Euro is needed the ECB will act, but if they do this soon it will be way too costly and with poor results, so better let it slide for a while and focus on the growth of exports and demand destruction in imports which was a thorn already in European's economy. All articles tend to point a new rate hike no sooner than September and in my opinion, they shouldn't move sooner than that. There it is: parity! Euro dropped 19% in a year, and interest is still negative. It's almost as if there's a limit on how much BRRR a central bank can do without destroying the currency.
But it's against the $, and if we have a printing contest the US would win by one hell of a margin. So, why isn't the opposite happening? |
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Oh, the G20 again 2018: G20 & CRYPTOCURRENCIES2019: g20 FATF regulations so on Every year we have a G20 meeting and every year there is a topic about it, but the G20 is an organization that can't enforce anything, it can't adopt laws it can't force its members to implement laws, there are just recommendations or agreement that one takes and might be forgotten tomorrow. What kind of regulation will the FSB pretend to China for example?  Plenty of 'experts' are saying that the crypto industry should welcome the regulation with open arms, as centralization would, apparently, further stabilize the market and protect the investors' funds, but can it actually aid the market, or will it further hamper the adoption of crypto across the world - we're soon to find out.
Yeah, terra, celsius, 3ac, voyager, I lost count of how many centralized solutions have "protected" investor's funds these few months alone. |
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The previous posts of the author in the Chinese board A product recommended by a friend, similar to mining, is highly profitable. Can anyone please help me. How do you add a picture to the post? I can't put it on. A "product" recommended by " a friend", is "similar" to mining. Forget the 100% return even if they claim 20% I would is 99.99% a scam. If you can't post a picture following the above instructions theta t least link the website in question, if there is no website then the chances for it to be a scam have just grown to 101%. Sounds a lot like you're describing cloudmining... 99,9% of those companys are scams.
Might be some liquidity mining scheme, lately those have started popping up like mushrooms, far more than the cloud mining trend which is, fortunately, losing steam. |
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You know what surprised me? That the people are angry enough to actually have a mass protest. Shouldn't be a no-brainer in general, but let's not forget that this is Communist China; in which I'd personally think twice attempting to protest. Hope these poor people wouldn't be tagged and followed to their homes and those stuff.
Actually, protest do erupt in China quite often, the internet is heavenly censored and we can't get all of them but there were a lot during Covid, you can google for videos about the clash in Jiangxi, there were a few even on youtube with protesters denied entry jumping on police cars. The thing is that those get quashed really easy, and there is no serious follow-up as police come in force, but spontaneous ones are far more numerous than one could imagine. Whoever sees all Chinese people as completely obedient robots in front of their authorities and not having the guts to protest when they feel things have crossed the line is mistaken, and that's why this over-exaggerated control done by the authorities, they know the danger of the sparks is there. Anyhow, this is the follow-up https://www.bbc.com/news/business-62130744Xi will not risk anything before his re-election, he is throwing money at everything, including a 220 billions stimulus like package for the local governments that are deep in debt, and will be used to pay for all at least part of the debt in infrastructure projects to keep things going as that one is the major growth factor to the economy and is currently underwater. For now crisis will be averted, but that will not happen forever. |
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The founders of 3AC are on the run and cannot be found to be served court summonings
On the other thread, I was saying that those companies who don't care about security, risks, or anything else are going by the saying of getting rich or die trying, but these two (?) are really pushing it to the extreme. To me is quite funny when guys who were all suited up, conferences everywhere, full bling-bling are trying to scram and get into hiding forgetting somehow they were no master criminals in the first place and that there are people who lost millions hunting them. And speaking of millions in a 10 billion case, how much money did 3AC actually had in the first place? I always kept getting news about how they were frantically trying to get rid of expensive NFT they've bought for millions, and one the pictures in those replies really got me, despite being really poorly done.  There is a hard lesson to be learned here, nothing will go up forever and a clone of a thing will not just gain value as the original and keep it just because you think the 200 000 people that are following you on Twitter will keep pouring money in it. You need real money for this growth, not money from uncollateralized loans or one done with a bunch of over-estimated digital jpgs, when that money flow is cut downs goes the sand castle, it happens every single time with every industry or every scheme, just because it's crypto it doesn't mean its invulnerable. Voyager have said that customers will probably get their USD back since it is held with a fiat bank (the irony of fiat banks coming to rescue), but crypto will be allocated on an as-of-yet unclear "pro rata" basis (so expect to get very little of it back)
So Gox style, but unlike Gox I don't think there will be a magical tux finding of an address with a few hundred thousand bitcoin. Still no news from Celsius about customers ever getting back their money
Yeah, Celsius said it had resolved its liquidity problems, they're getting some money from somewhere to pay back their loans but still crickets about the money that is stuck there. But in this case, I'm a bit more positive, I don't think they are that stupid to pay their loans with the money people have on their platform. If they do this and then file for bankruptcy they are done for |
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Propaganda is nice till it starts hitting you, all those claiming the west will be ruined, cheering that Europeans will freeze to death, will starve because of sanctions, I wonder how next spring will look for you, once reality strikes. Did anyone claimed that the Europeans will freeze to death if the Russian pipeline gas flows are halted? Only around one-third of Europe's gas comes from Russia, so there is no point in saying such things. You should really go and have that checked up, it's not the first time you forget your own words, or it might be a split personality, but since I'm a nice guy let me remind you of all the funny stupid things you were saying around here The underground gas storages are at all time low and in case Russia doesn't send gas to Germany, then half of the population will freeze to death by the end of this year.
Remember now how you claimed that 40 million germans will freeze to death if the gas is turned off? And since we're on the subject of forgotten things you have predicted, the barrel at 200 and Ukraine getting conquered in half in a few weeks in April, do you still get those? Meanwhile, probably the records tourists in Spain and Greece which are expected to break by 20% the pre covid record are probably there to catch a bit of heat for the winter. And maybe so are the ones working too, with EU reaching record employment despite all the collapses in the industry... Or maybe they are on the beach cheering for the first grain vessels leaving Ukraine now that Russia has been kicked out of Snake Island and they are too afraid to come near the shore after the Moskva lesson? PS. Seriously, get that checked up, swallowing propaganda all day will do terrible things to you, in a few years at this pace you're going to forget your name and you're going to call yourself Peter the Great.. |
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And this one is gold, I mean, even if you would have the meanest propaganda on your side you wouldn't be able to come up with stories like the reality in Russia. So after Europe was on the verge of collapse from lack of food and oil, the newly resurrected clone of McDonalds in Russia, has stopped serving french fries... Directly from the source, rough google translation https://vkusnoitochka.ru/articles/news/potato-temporarily-not-available/In addition, it became impossible to import from markets that could become temporary suppliers of potatoes for enterprises in Russia.
According to our estimates, the major players in the market are facing similar difficulties, despite the fact that the standard of tubers used at Vkusno - i dot is higher than that of competitors. Potatoes will return to the menu of the network's enterprises in full at the beginning of the next harvest year, in the fall of 2022. So till the next harvest, no more potatoes for you!!! Meanwhile, in the other fortress resisting western imperialism, the galactic superpower of Iran: https://www.radiofarda.com/a/expensive-iran-fruit/31911506.htmlA member of the Board of Directors of the Beef Production and Distribution Union said on June 27 that the sale of veal meat has dropped by 20% in the past weeks. The head of the Federation of Food Industry had announced in early June that the sale of food industry products in the country would be halved.
Things are going so well that food products consumption will be halved since nobody afford them anymore. Of course, these guys are lying, who the hell are they, directors and heads of federations, we know by the above excel graph things are doing great: The Chairman of the Board of Directors of the Association of Dairy Products Industries also announced in the middle of June, referring to the 80% increase in the price of dairy products last month, that the consumption of dairy products in households has decreased by 20% Propaganda is nice till it starts hitting you, all those claiming the west will be ruined, cheering that Europeans will freeze to death, will starve because of sanctions, I wonder how next spring will look for you, once reality strikes. |
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This sounds far-fetched. Germany alone exports goods for about 1.37 trillion euro annually. The European Union exports a lot of goods and services, but it imports a lot of goods and services as well. The trade balance is what's important.
I love the narrative of some, everything is made in China....well, no! Europe alone exports more than China, just Germany, Netherland and Italy export the same as China does, out of the biggest 10 exports 5 are from Europe, and speaking of Germany, as you mentioned, Germany exports more than the entire GDP of all but top 14 countries, or more than the entire GDP of Nigeria, Malaysia Philippines, and Vietnam combined! The other narrative I love... The euro is going up, this will be bad for their exports it will ruin the economy! If the euro goes down, it will be bad, they need expensive energy imports, and it will ruin the economy. The USD goes down, the petrodollar is going to be destroyed! If the USD goes up, it will ruin everything as it makes stuff more expensive, the petrodollar is going to die! The Turkish lira or the rial dive 80% in value, everything is fine, the petrodollar is going to die! |
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Every halving, Bitcoin's mining reward goes down by 50%, and to keep the network active, Bitcoin's price needs to adjust itself so that miners are still in profit. And all these things increases demand near the Bitcoin halving which also results in a jump of price.  So let's have a fork in which we don't halve the reward but cut it by 1/10 so the price will somehow manage to do at least 1000% every halving. It's a complete misconception that every miner has to make a profit, that there is an average "bitcoin cost" and that somehow the price will forever offset the diminishing block reward. Bitcoin mining will be profitable even at 1000$ just how it was 6 years ago, it's not a thing like any other industry, if somebody goes bankrupt you get a bigger pie of the rewards with the exact cost, and you don't have to increase production to offset the balance you don't have to do anything. The only thing that is changing every day with every move is the security of the network and the amount of $ you need to attack it. Aside from market DEMAND, there are also several key factors affect Bitcoin price over the years namely: - The supply of Bitcoin
- The cost of producing a bitcoin through the mining process
- The number of competing cryptocurrencies
- Regulations governing its sale and use
- Media and news
All of them are components that trigger demand, they are not independent of it or standalone. The number of competing currencies affects demand, the regulations and usage affect demand, and media and news trigger demand for coins.All those "key" factors affect demand, and the only thing that affects the price directly is demand and offer. You can have the media show things about the advantages of bitcoin 24/7 if there won't be any demand for the coins, news won't affect the price at all. You could argue that every asset value in this world is driven by demand. In other words prices go up when there are more buy orders than sell orders for a certain price.
There is no arguing about it, every single thing in this world is driven by demand and offer unless you have a government intervention restricting the free market and either forcing or subsidizing the price. |
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It's a local exchange and open only for locals of spain (probably) is one of the reasons why its not known worldwide.
They claimed to operate in 22 countries in Europe, even their extension was "global". Although, i'm reluctant od what you said "exchanges doesnt have many real users" when you can't see any of their records/database of registered/kyc-ed users.
In the hack last year they lost €1.2 million, and in their won statement they said that's 1/4 of their holdings, so they had under €6 million in assets for all their users which is peanuts, if they had 10k users it would mean an average of 600$... Last July, the exchange suffered a cyber attack that saw €1.2 million ($1.45 million) in crypto assets stolen – 27% of the firm's total holdings at the time. |
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Meanwhile Crypto.com have slashed their rewards while hiking their fees. Obviously feeling the pinch as well.
When you think printing tokens out of thin air will get you unlimited money forever, that's how things end.. Crypto.com was not getting most of their revenues from actual usage but from selling their token and listing cryptos and projects and taking a chunk out of those, since the hype died down, the consequences of not having a solid revenue model popped immediately: Oct 28 2021 Crypto.com Plans Monumental $100M Ad Campaign, Taps Matt Damon to Feature
20 iun. 2022 Ad spending on TV has also been down: Crypto.com’s marketing expenses decreased to $2.1 million in May, from $15 million in November of last yearAnd when your revenue is down, what do you do, hammer your clients so you will lose customers and more revenue.. This was the moment to slash fees, to survive on assets put aside from the bull run, and to destroy your competition by offering cheap services, instead, they are doing it completely the opposite way. |
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This action affected about 100,000 users that trusted the service of this exchange. And, their funds are held on the exchange. They went further to urge users to pay a fine of $20.35 to keep their accounts active, and failure to comply will get such account suspended. ( Maybe they'll be back in future)
This is robbery, pay 20 euros or have your account closed and funds confiscated? Where the hell do these guys think they are operating, Bartovia? The platform had already made headlines in August 2020 after suffering a cyberattack that ended with the theft of 114 bitcoins and 276 ethers, equivalent to 1,183 million euros in cryptocurrencies at the exchange rate at that time. At that time, it did not have the necessary funds to cover what was stolen from its clients' accounts, so in January 2021, the startup managed to raise 1.5 million euros in a financing round, an amount that was used to reinforce the security of the company and its coverage model, as well as to replace the stolen funds.
Another website is mentioning something even more interesting: Since 2017 the company has received different rounds of financing. As detailed in its 2020 accounts, 2gether had short- and long-term debts amounting to 3.14 million euros. The platform obtained 200,000 euros of financing from Lanzadera, the accelerator created by Juan Roig. It also obtained one million euros from Cecabank, through a convertible participatory loan. From Cecabank they point out that the exposure they have on the platform is reduced and that it is provisioned as it is an “extremely prudent environment”. It also received funding from the Ministry of Science (286,000 euros) and Abanca (300,000). So basically in all their existence, all that has done was to burn through investors' funds and grants and now they are trying to use customers' funds to keep the sinking boat from becoming a full-fledge submarine. Exchanges are getting hurt during the bear market, why can't they hold? or maybe borrow some funds to finance their exchange while waiting for the market to correct. Exchanges make money out of trades, if there are no trades there is no income, if you pay yourself outrageous salaries, advertising, and office rents way over your income you go bankrupt, and that applies to bullish seasons too. Just because your business is based on crypto and bitcoin is a long-term profitable investment it doesn't mean your business will be too. Bullion Direct went bankrupt despite all it had to do was reselling precious metals at a profit, yet they've failed at doing so. |
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Was just talking about hash rate in another topic when I realized, shouldn't the previous period have ended by now? Good news: Previous Retarget: Yesterday at 3:06 AM (-1.4115%) Good news: Current price $21,349 Pikachu face: Current Pace: 107.9668% (248 / 229.70 expected, 18.3 ahead)
Next Difficulty Change: between +1.8863% and +8.7169%
Well, just a day and a half, maybe the luck that pushed the diff down in the last days is having a charge of heart and more blocks are coming now. Mare is ready to put 3 more exahash online: In Texas, despite multiple assurances that energization would occur in June, Compute North’s energy provider is still awaiting federal agency confirmation of its exempt status for tax purposes based upon its arrangements with Compute North. In the meantime, installations of our miners have been progressing on schedule. We now have 29,640 miners, representing approximately 2.9 exahashes per second, installed and ready for energization in Texas. Riot too has miners not yet deployed: The transition will consist of both a relocation of miners to the Company’s Whinstone Facility and by way of a miner swap agreement which Riot has entered into with another Bitcoin mining counterparty. This initiative is underway and approximately 5,700 miners are currently offline, and temporarily not counted in the deployed fleet figure, as they are in the process of being redeployed. It is expected that the Company will ship the balance of its S19 miner fleet presently at Coinmint to Riot’s Whinstone Facility in July. So unless somebody somewhere else cracks under the pressure of electricity prices, we're going to get back up, even if it's minimal gains. Btw: Btw 35°-36° for three days
How cute , I only see these temps late at night, the past week has been 35-48c I wonder how does 25° at 4 PM right now sound for somebody who lives in Melting Bones, Volcania? |
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Unless you can track all VPN traffic, you cannot prove those numbers, not this accurately (by far!) so imho they're pretty much worthless.
I've seen charts like this in the past. Not impressed, sorry.
When we talk about the US, we do have some numbers, it's in the press releases of companies like Riot, Mara, and many more and in the cases of the publicly traded ones in their account fillings. Here is a discussion from last year, where I followed only those releases of the known actors and they had around 30Exa by the end of 2021 and with a deployment plan of 75 Exa by the end of 2022. Let's cut in the middle so that would make around 30+30, 60 Exa, 30% of the current hashrate. One clue would be the hash rate of the pool Foundry owns, this is a closed pool, it's opened only to big companies with a presence in the US, so you could safely assume that at least 22% of that hash rate is generated in the US by US companies. And of course, those are the numbers only for the big guys not the hundreds of small ones with a few petahashes of gear. |
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When it comes to mining, Kazakhstan comes in second place, accounting for 19% of the global hashrate. Canada comes third at 11%, followed by Malaysia (6%) and Germany (5%).
No way in hell that is accurate. Cambridge says this about Germany https://ccaf.io/cbeci/mining_map3.06% *
* To our knowledge, there is little evidence of large mining operations in Germany that would justify this figure. Germany’s share is likely significantly inflated due to redirected IP addresses via the use of VPN or proxy services. Germany has had the biggest energy prices in Europe for a decade, there is no way 5% of the global hashrate would be there, and there is no way you would have 5% in Germany and less than that in Russia for example. Based on this map, the percentage of mining in the United States is 37% ( will not be accurate but away from what you saying)
How is it away from what he is saying when he clearly said With the regard to the adoption of blockchain technology, the U.S. is not behind any other country, but besides that, when it comes to crypto mining it holds more than a third on a global scale. More than one third is more than 33% , you're saying 37% ... |
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