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3421  Bitcoin / Bitcoin Discussion / Re: Bitcoin Died 45 Times in 2021! on: December 31, 2021, 11:03:02 AM
It's interesting that there's a metric for this, and that the number is lower than in 2017. That being said, I found the chart of declarations because I wanted to see how it all went in the previous years.
The chart itself isn't very helpful in terms of numbers of deaths, but there's a list below it that shows numbers of deaths every year since 2010. It's not surprising that there weren't many of deaths prior to 2017 because way fewer people were aware of and concerned with Bitcoin in general. But it's worth mentioning that the number of deaths in 2021 is also 3 times as high as in 2020, and 10% higher than in 2019.
3422  Bitcoin / Bitcoin Discussion / Re: What will you do if Bitcoin reaches 100,000$ on 31 Dec 2021, 11:59 PM on: December 30, 2021, 05:43:31 PM
I'll cheer for Bitcoin in my mind, but won't rush to sell anything. I try not to act on things like that, and if this actually happened, the fees would probably skyrocket as well, and transactions would get stuck. I will simply watch how it's going and how people react, but stay put. If it can reach $100k once, it will do it again, and FOMO is a dangerous feeling that can lead to more mistakes than profits. Also, I'll try not to follow the price movements during this time and instead focus on spending time with my family, awaiting the beginning of another year.
3423  Economy / Economics / Re: IRS says stolen property and bribes must be reported as income on: December 30, 2021, 05:14:20 PM
Wow, the IRS is really focusing on what's important to it: to get as much in taxes as legally possible. It's cool that they don't report undocumented migrants and take tax reports from them. It's even cooler that they're legally not allowed to share this information, although it's indeed very surprising to me. But in a way, it doesn't really make much sense because paying taxes on bribes and stolen property somehow legitimizes such actions (I checked the IRS website, and it's not a joke, apparently), while it really should not.
3424  Economy / Economics / Re: The Crypto Rich Are Flocking to Puerto Rico on: December 30, 2021, 04:56:49 PM
I wonder if this tax-free policy for newcomers actually helps Puerto Rico. It's quite a desperate move, and it seems that their economy keeps declining overall anyway. I didn't see data that sums up 2021, but based on projections, it will be better than last year, but not a game-changer. Also, the article mentions how crypto businesses were into registering in Puerto Rico in 2017, and then the market crashed. It's risky for a country to count on such a scheme if people move out or stop their activities during the bear market. But, of course, it's great that there's a place where crypto businesses can flourish.
3425  Economy / Economics / Re: COVID has driven Americans to bank $1.6 TRILLION in savings on: December 30, 2021, 04:38:19 PM
Putting in savings more than 6 months worth of emergency funds, what a first-world problem. Clearly, the US managed quite okay during the pandemic if the population could afford to put more into savings during the pandemic than they did before. Honestly, I don't get it. If they fear a huge crisis, shouldn't they be hoarding something of actual value, such as essential medications and food? What's the point of having tons of money at a time when there's a lack of products and when money loses value quickly?
Also, if inflation doesn't motivate people to spend fiat under some circumstances, the whole argument that Bitcoin can't work as money because it's deflationary and people won't be motivated to spend it fall apart.
As for the current state of the economy, I think we're in recession, but somehow entering it gradually rather than crashing into it.
3426  Economy / Economics / Re: Gibraltar moves to become world’s first cryptocurrency hub on: December 29, 2021, 02:48:35 PM
I think it's unfair to threaten with sanctions when we're talking about a self-governing territory (and I googled that in all matters apart from defense Gibraltar is self-governing), and when its actions are not meant to harm anyone. This is merely due to distrust in cryptocurrencies, but it shouldn't be any countries' business, to be honest. They can make regulations on their territories, but should leave Gibraltar alone. The threat of money launderers is always out there, so why don't the US and co focus on their own issues, rather than tell Gibraltar how dangerous cryptos are?
3427  Economy / Economics / Re: U.S. population grew only 0.1% in 2021 lowest rate since nation's founding on: December 29, 2021, 02:35:09 PM
Overall, the world population is still growing, but the growth rate is slowing down. It was around 2% in the 1970s, and is around 1% in 2020. But the situation differs a lot from country to country. It's 0.1% in the US, for instance, 0.2% in France, 0.6% in the UK, but -0.6% in Ukraine. So the dynamics vary all over the world, and I don't think it's a big deal overall, as long as there's a stable economy that can sustain itself. What matters significantly is aging population, of course, because it means a decreasing workforce, but how much this is a problem also depends on the economy.
And since the news about the US attributes the decrease to the pandemic, perhaps this sort of change will correct itself when it's finally over or when people stop dying from it in large numbers every day.
3428  Bitcoin / Bitcoin Discussion / Re: Why people sending transitions to Satoshi's first bitcoin wallet on: December 29, 2021, 02:06:16 PM
Why do people through money in to wells, fountains, or other water features? Why do people send coins to any "burn" address?

Maybe as "thank you" or other tribute to Satoshi. Maybe for luck. Maybe just to they can they say they gifted some satoshis to Satoshi. Maybe as a symbolic sacrifice to pave the way for $100k.
It's a good list, but there are some nuances I'd like to mention. For example, when money is thrown into fountains, it often goes to charities. It's, of course, not the reason people throw money into fountains, but still, it doesn't really get taken out of supply. As for sending coins to 'burn' addresses, sometimes people actually do it as a way of getting some shitcoins that use a 'proof of burn' protocol (you burn BTC and get these shitcoins instead). So this action might have a purpose, although probably doesn't cover all cases when people send money to such places. As for a thank you, I think it's probably the main reason. Also, I do hope Satoshi will be able to use them one day.
3429  Economy / Games and rounds / Re: Sportsbet.io ⚽ Arsenal + Southampton ⚽ Prediction Contest (Saturday-Sunday) on: December 29, 2021, 01:54:53 PM
Game 1:  13' 1-3 Manchester City
Game 2:  13' 1-0 Southampton
3430  Bitcoin / Bitcoin Discussion / Re: Btc ban and fud its also financial market manipulation on: December 29, 2021, 01:49:49 PM
What do you mean when you say FUD means regulations and ban? FUD is often merely FUD, triggered by misrepresented information (for example, a major factor in the 2018 market crash was manipulative and, evidently, false information that South Korea was about to bad crypto exchanges). You've also mentioned Russia, China, and India. While these countries are associated with mixed messages, these messages don't always entail actual new regulations, let alone bans. It's frequently discussions of what this or that official said or about draft bills that don't pass. And, to be honest, I don't think the governments are to blame in these situations (at least, not all situations) because it's often the media that catches a small piece of info and tries to make breaking news out of it by spreading fear and making it sound worse than it really is.
As for Bitcoin being manipulated, the price does suffer now and then from news about bans or new regulations. However, it's simply due to investors acting on it. Also, the price tends to recover, so I don't have a problem with that.
3431  Alternate cryptocurrencies / Altcoin Discussion / Re: To the Moon: Shitcoins are Ponzi Schemes on: December 26, 2021, 04:04:47 PM
I think they're similar (if we ignore the difficulties of sorting altcoins into shitcoins and legit projects), but there's still a difference. For example, there's a certain hierarchy in the company when it comes to Ponzi schemes, whereas all investors are formally equal when it comes to shitcoins (my 500 coins will be worth the same that someone else's 500 coins, and the question is only if I sell them at the right moment).
As for shitcoins not promising returns, I think it probably depends on a project but I doubt that no ICOs promised their investors good returns.
3432  Economy / Economics / Re: The link between Bitcoin and the economy on: December 26, 2021, 03:40:34 PM
Whether Bitcoin is an asset depends on who you ask. And while it's largely used as an asset, it also has potential as a currency (unlike gold nowadays). There's also quite a big difference, IMO, between gold and Bitcoin in terms of what's expected from them. Gold is more of a store of value. It means that you already have wealth which you don't want to lose, and so you put it in gold and expect it to remain the same or perhaps increase a little. Bitcoin is very volatile, so putting wealth into it and expecting it to remain the same is probably not what most people do. Instead, they invest money, expecting some high profits, to become wealthier rather than remain wealthy.
3433  Economy / Economics / Re: Americans overestimate social mobility in their country on: December 26, 2021, 03:27:55 PM
Quote
When given pessimistic information about social mobility, left-wing respondents became even more likely to support economic redistribution. In contrast, right-wing respondents’ support for redistribution did not change.
This, it seems, is merely due to a well-known stubbornness of humans. It's not about this particular evidence being presented to people, but about the way people react in general when presented with evidence that supports or contradicts their opinions. There's a great video showing how it works.
So, to be honest, I don't think there's a reason to explain it based on the particular context of the matter of social mobility.
Quote
With the consensus from only a year ago being that the united states had the largest growing demographic of millionaires and super wealthy. Which could suggest that it is, or was, easier to become wealthy in the USA than in any other nation on earth, only a few years ago in 2019, before COVID hit.
I don't think the article from 2018 actually supports the claim that it's easier to become wealthy in the US. In fact, if you look at the charts at the beginning of it, the actual probability of moving from bottom to top is 7.5% in the US, but around 11% in the UK and France, for example. Please correct me if I'm wrong here.
3434  Economy / Economics / Re: Crypto lobbying is going ballistic on: December 26, 2021, 03:06:54 PM
Quote
The EU is preparing rules that force crypto firms to seek licences and ban tweets meant to manipulate markets.
So they'll basically make Musk's tweets illegal in the EU? Because it surely seems that it should count as tweets meant to manipulate the markets. I wonder how legislation like this can truly be enforced and work properly, given that Twitter and other social media don't belong to any governments. It also seems to be a significant restriction of freedom of speech.
As for crypto firms lobbying for favorable legislation, I think it's for the best. Someone has to push the legislators to accept that cryptos are real and in high demand. I only hope that they're lobbying for conditions that will be favorable both for companies and for crypto users in general.
3435  Bitcoin / Bitcoin Discussion / Re: Do you think crypto is going to replace the dollar? Jack: Yes, Bitcoin will on: December 26, 2021, 02:42:04 PM
I respect Jack and his opinions, but it's worth to note that he is very pro-Bitcoin, and I disagree on the matter of Bitcoin replacing the USD. The USA is very proud of the USD, so it's highly unlikely that this country would abandon it unless absolutely necessary. Even if they did, I don't think Bitcoin, a volatile decentralized digital currency, would be their first choice. After all, it's not a currency they can control, and not really a currency that requires banks, so it won't stand well with the financial institutions of the US. Moreover, countries all over the world trust in the USD because they trust in the USA as a strong economy. There's no similar reason to trust in Bitcoin.
3436  Bitcoin / Bitcoin Discussion / Re: Elon Musk once again throwing shade at bitcoin on: December 26, 2021, 02:07:29 PM
I wanted to write about how I think Musk is joking because, while he gave Bitcoin a try with Tesla, he did no such thing with Dogecoin. But then I realized that it's no longer true, as in the middle of December Musk actually said that Tesla will start accepting Dogecoin for merch to see how it goes. In that case, perhaps he does think Dogecoin is the way to go. I don't have anything against Doge, except that it's way overrated. Given that the foundation and thus technical support was reintroduced in August 2021, though, at least it's probably safe to use it. Also, while the coin is inflationary, the inflation rate decreases over time. Still, even if Musk goes above and beyond to make Dogecoin more popular than Bitcoin, it's not going to work.
3437  Bitcoin / Bitcoin Discussion / Re: There are no decentralized cryptocurrencies on: December 25, 2021, 08:18:20 PM
I think that a decentralized Internet could be a great thing, but given how everyone is already so used to the one we have now, I'm not sure it's possible to switch to a different system (at least, not globally). But the Internet isn't that bad, and given that there are tons of ISPs all over the world, I'd say that access to it IS pretty decentralized, and I don't think it's likely that anyone could be cut off (unless it's a confined space like prison or a totalitarian country like North Korea). Also, I'm not 100% sure, but I believe it's possible to find a workaround and use Bitcoin without the Internet (it would be very difficult, of course, but still).
3438  Bitcoin / Bitcoin Discussion / Re: Why do we need a bull market blow off top ? on: December 25, 2021, 07:55:09 PM
As you know everyone is looking the final blow of top for the bitcoin bull market like it happened in 2017. I have a serious question that why we need a big blow off top to conclude the bull market and enter a bear market.

Consider for a moment that Bitcoin prices moves to all time high of around 130,000$ and then in the next week we are at 90,000$ and then slowly we moved towards 30,000$. Why everyone wants this blow off top ?

Why can't bitcoin stay between 40K to 60K and slowly moves towards 100,000K taking 6 to 8 months and no bear market. Wouldn't it be good for everyone?
I'd honestly be okay if Bitcoin were to, say, stabilize forever around $50k. It's a great price, and then people could be more inclined to view it as a form of money rather an investment. But that, of course, wouldn't be good for traders or long-term investors. Regarding people who want the bear market, it's most likely because they feel that the price is too high to invest now, and they want to buy the dip. So for greedy people, it would not be good if Bitcoin never went into the bear market. As for the actual risk of Bitcoin getting there, I think we already saw it go down from more than $60k to $30k, so I think we're past the bear market now. Bitcoin can still move up and down, but given how things have been over the last couple of years, I don't think we'll see a long bear market (similar to that of 2018-2019) anymore. Bitcoin's too popular, and enough people buy the dip for that to repeat.
3439  Economy / Games and rounds / Re: Sportsbet.io ⚽ Arsenal + Southampton ⚽ Prediction Contest (Sunday) on: December 24, 2021, 05:11:31 PM
Game 1:  38' 0-3 Arsenal
Game 2:  38' 2-0 West Ham
3440  Bitcoin / Bitcoin Discussion / Re: Historical Bitcoin Prices😊 on: December 24, 2021, 05:07:46 PM
Not every chosen date would give the same picture, but the general tendency is indeed caught by such price comparison, and that's the fact that Bitcoin has been growing throughout its history. The Christmas Eve list shows a bit of a regress in 2018 and 2019, as well as in 2014 and 2015, but Bitcoin successfully managed to recover and surpass its former achievements. Another list I like is the list of the lowest price points per year because it shows how low Bitcoin can fall at a given time period (and, thus, the level of trust into it). Here's mine, taking approximations from Coingecko:
2014: $320
2015: $172
2016: $384
2017: $900
2018: $3,200
2019: $3,500
2020: $5,000
2021: $30,000
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