It's pitiful but poor countries are the ones that will be affected by Russia. It was Russia and their dictator Joseph Stalin that starved millions in the Ukrainian Famine and seems they are going to repeat the same for Africa and the Middle East.
Wasn't that clear from the start? It's damn basic economics and some here still don't understand that everything has a price and everyone has purchasing power. It was obvious that if a food crisis hits the ones that spend 90% of their income on food will be hit harder than the ones spending 20% or 30%, it's clear that the guy making 2000 euros a month will afford gas even when it's an at 3 euros per liter while the one making 200$ will not! It's completely disappointing seeing this, especially on bitcointalk, where we clearly have the bitcoin price as reference, PPP means nothing here, it doesn't matter that rent is 20$ in Dakka and 2000$ in New York, one bitcoin is still $30 000 for both of them, and food is also traded, oil is also international traded, the one with more money will afford to buy more, just like with BTC.Basics! Thanks for the info but can you also explain where does the scarcity and the soaring prices come from in parts of EU that I heard about. For example my friends in Germany told me they haven't been able to find cooking oil, flour and some other stuff for about a month.
Tell them to try and enter a store for a change: https://www.kaufland.de/oele/https://www.kaufland.de/mehl/Or stop listening to propaganda for a change! Or get a clue when your friends are poking fun at you!  Or, since I'm a nazi lower American propagandist and obviously this is a fake nazi Ukrainian site and not the biggest store in Germany you can always ask the guys in the German sub if the shelves are empty, so you could finally stop with the fake news once for all. Infinite possibilities that end with oil available everywhere. Could you also tell me where does EU get their fertilizers and animal feed from?
You're not going to like the answer, but Europe exports animal feed! Just one click away! https://oec.world/en/profile/hs/animal-foodI don't think there is going to be that much issue in most of Western Asia mainly because when the Russian exports to the West stops, they have to replace their customers with someone else.
You can't "stop" or redirect something that was never there! https://oec.world/en/profile/bilateral-product/wheat/reporter/rus?redirect=true |
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Looks like you are having problems with comprehension. This is what I said:
Yes you said: If they export 6 million barrels per day of crude oil or products such as diesel, then the net profit is $300 million, which amounts to around $12 billion per month.Add in the profits from gas and coal, and you will get a figure of around $20 billion per month You said 300 million per day, 12 billion month. Get over it, basic math is not for you, also basic economical terms are not for you either. You said profits!!!! Then you quote: Haven't you learned in middle school the difference between profit and revenue? Russian oil export revenue is up 50% since the start of 2022 with the Kremlin generating close to $20 billion per month in sales, according to the International Energy Agency.
Revenue from oil: 8 million barrels x $50 x 30 = $12 billion
Revenue from gas: $6 to $9 billion
Oh wait, you didn't! Back to school! I wonder how a country that is run by 3*3=12 and profit is revenue people, would look like, oh wait, no need to wonder , we have it right here! |
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I do not know if it will be just Texas, but I know that if you are going to pick just one state to install 800 Bitcoin ATM's, then it is going to be definitely Texas, I would pick maybe NY, California and Florida as alternatives, because those are huge as well but Texas is definitely just way too huge. Have you checked how big it is?
Bruh!!! just above Lucius has quoted the line from the article: Apart from Wisconsin, the aforementioned batch of Bitcoin kiosks will be installed in Minnesota, Illinois and Iowa. They can't install ATMs in Florida or Texas or Ney York because the company has nos stores there! https://en.wikipedia.org/wiki/Kwik_TripArea served: Wisconsin, Minnesota, Iowa and Illinois 3.Someone could find a way to hack those ATMs and steal the coins of many people.
It's quite hard to hack an ATM under surveillance, and no real huge cases have happened, plus it will be easy for the customer to show the receipt and the fact that the coins haven't arrived in his wallet. Plus hacking a complex system for a few hundred bucks now and then? No! Trying to copy the fiat financial system, with all those Bitcoin ATMs and crypto debit cards is a dumb move, if you ask me.
They are not trying to copy that system, they are just copying exchanges, like all those shady currency exchanges in some countries, you want to go unnoticed by your bank while buying 1000$, you go to one of them and try to convince the cashier to do it without an ID, which is successful most of the times. Do you think those kiosks that sell credit codes for your mobile providers are making a fortune? Yet we have like one hundred of them in each city. |
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Be so kind as to provide the original link where the value of RUSSIAN oil in transactions with China is indicated, as you indicate?  ~ In a word - there is no need to repeat the methodology of Russian propaganda and manipulate the numbers. Which are also easy to check! Told ya! I don't know if you remember this but in the USSR time there was this joke At the agricultural meeting of the oblast, every kolkhoz director came and issued his report to the inspector sent from Moscow: - This year we have planted 1 000 sq km more, said the first - This year we have planted 2 000 sq km more, the second...so on By the time they were only two left suddenly the inspector realized that's the entire agricultural area of the oblast and asked the remaining two what they've done - Comrade, we have converted all roads, gardens, and house roofs for agriculture and managed to plant 10 000 sq km more said one - Comrade, since all the land in the Oblast was taken, said the last one for them, we have invaded Poland and planted there 10 000 sq km of corn for the motherland!  And look what we have here: If they export 6 million barrels per day of crude oil or products such as diesel, then the net profit is $300 million, which amounts to around $12 billion per month.
So if you make $300 million a day in a month you make 12 billion, because as we know the months in Russia have 40 days! And adding to this "math" the fact that he already said gas revenues are 20 billion a year, which means 1.6 billion/mth it would mean Russia is going to make more profits from coal than from the entire gas and oil industry! How? Majic!!!!! Or maybe in Russia the year has 15 months? Great calculations -
Here is another great one for you, 300*30 is 9 000 not 12 000. You're going to thank me later! |
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~
Absolutely crazy interest rates. Terrible deal, surely not that many people will want to use these types of loans with that sort of interest? The thing is for longer term loans, i.e a mortgage you're probably looking at fixing yourself in at a certain interest rate, and then after that you're probably going to be subjected to even more. Yeah, I'm sorry absolutely terrible idea from bottom to top. Now letting my bias for a moment, there is a target population, as it's always the case with loans and it's in most cases people who have no other options, and people who strongly believe their coins will do an x3 or x5 after the next halving and don't really do the extra math when it comes to a 5 years loan. 14%? But I can put some coins in some staking scheme and get just from that 10-20 APR, enough to cover the interest. Taking such a loan when Bitcoin was $10000, great idea, right? Taking one when it was 60k... There are takers, and unless Celsius and others are lying, there are thousands who would take such long-term loans. Of course, you have to take those numbers with a grain of salt, but seeing that they manage to lose $54 Million in one event and still stay afloat, seems the scheme is lucrative enough. Oh, and one more thing, to us it does seem like a lot but for other countries, it seems like a small rate, some will realize too late that the interest is in $ and that is added on top of their currency devaluation, quite a few will end trapped because they've never had a second thought on this. |
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~
It seems that I misjudged the situation when it comes to certain products, all because more or less everything is imported in my country - milk, beans, beef and pork, potatoes... Somehow it seems to me that despite the rather large agricultural areas that are poorly cultivated or not cultivated at all, without imports we would be in a rather difficult situation. When a country loses 400 000 inhabitants in 10 years and has an anti-national policy led by former communists and their children who hate the country in which they live, then it is no wonder that we are so dependent on imports. Happened with everyone in the former Warsaw pact, and it will change in a few years for the better and better. It was the same around here, from Prague to Budapest to Warsaw, everyone was saying no more anything is produced, then it took a few years and look, we're exporting things everywhere, Poland is even trying to play in the big guys league when it comes to food exports, of course, France is a beast of its own but the others can be reached. Even Romania is showing signs of starting again to produce more things, both they and Bulgaria have this problem with infrastructure and store manufacturing so they export raw and get finished products but it will get there. Speaking strictly about Croatia I must admit, I have no clue what type of land and what is being cultivated in all that former Yugoslav block, all my knowledge about agriculture has been confined north of the Danube, so it might be that you lack the land to produce wheat or maize or whatever. From my few trips there I picture it more like some olive oil whine country, more like Italy or Spain. But bottom line, no, no fucking way Europe can't feed itself! It seems to be exactly as you describe, but I wonder if the Russians were not aware that their moves would result in just such a development? Many parallels can be drawn between the war that began in 1991 when Serbia invaded Croatia, occupied 1/3 of the country and killed thousands of innocent civilians - while the siege of Mariupol lasted almost identically to the siege of Vukovar.
It's exactly the same, a population that was at a center of a union suddenly saw the others don't want them anymore, the Serbs ruling Yugoslavia, the Russians ruling the Soviet Union. And when their former co-nationals don't want them anymore they forget the "brotherly" love and start butchering them like savages. And now they don't understand why everyone around them hates them. |
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From the article: At the current rate of growth, bitcoin will surpass gold in 4 years and the US dollar in 8 years, making El Salvador's efforts pay off, and making the country one of the richest and most prosperous in the world.  Let's ignore extrapolation no matter how funny it is, also the fact that the author speaks in 4 years increments which is not the best choice right now, cause it gives only a 3x every 4 years so, so just no, and let's focus on a different thing, called logic. If Salvador will become the richest country in the world with 1600 bitcoin, what will the other countries be worth since well, their citizens will have the rest of the coins!!! So Salvador will need to hoard moar coins, but for that, it needs $, which they don't have! Everything in the article looks like another bla-bla-bla and a vision of the world through pink glasses. El Salvador will be rich if they hold and Bitcoin price goes up.
The funny thing is that the price won't grow unless more people are buying, so Salvador in order to become rich needs the wealthier countries and their population to provide the cash inflow, otherwise, they will end with the same value even after 20 years. And if others do purchase, we're back to square one where they will be just as wealthy if not more. It's a game where you can't be rich alone and not without some serious help. It doesn't make a lot of sense that article, there are single people who own more bitcoins than ES, does anyone think that there will be individuals worth more than the US or China? And what about Saylor and Microstrategy? Don't they have more than 100k BTC? Way way more than ES.
Yeah, some individuals will have more wealth than the entire world, and now imagine they will sell! Oh wait! |
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Does anyone with a little common sense believe that any of these famous people in the cryptocurrency world really believe in Bitcoin? They use it as a base to build various companies through which they will sooner or later try to sell some of their ideas on how there is something better than Bitcoin.
Every single one of them is the same, they use Bitcoin as a launch base and then they start throwing shit as it since they need to sell the world their more spectacular project, another altcoin that will turn to dust. And the ones that are calling themselves true believers and so are just about the money, I remember on a similar discussion you brought up Michael Saylor's old tweets, the miraculous change in his opinion wasn't because of the technology or the fundamentals, those were the same, it was simply because he smelled the money! That's why I totally dislike having some random guy worshipped like he's some kind of leader of the bitcoin world, sooner or later it will turn bad, really really bad! One good news about the other scam you mentioned, seems like South Korea's authorities are on the move. The original article mentions also something about investigating the way customers were attracted with a high annual interest rate that might get jail time, and in Korea, you can get 40 years for just lying to investors about where you put their money. |
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since when does the s9i mine doge coin using the SHA-256 al-gore-rhythm ? Nice one ( archived), now that I look more at it they also have a StrongU STU-U6 that mines SHA256 at 420G±8% at but is probably a spin-off from yours, the oh-my-groin-rhythm Scrypt Algroithm Litecoin Miner Machine |
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Although, this is also the first time I'm hearing of a Bitcoin backed loan, that's given in fiat. Sounds like a scam to me, doesn't really make much sense for the borrower or the lender considering the high volatility of Bitcoin, which I'd assume is written in the contract, that's if it isn't just an outright scam.
They've been around for ages (in bitcoin time) , I think Celsius was launched in 2017 for example. It works nicely for short-time intervals with small sums when basically you're not risking much as you can overcollateralize it easily, and it might not be fiat but for example, Darkstar_ offers USDT loans. Speaking of larger sums, like mortgages we've just had a thread about it, and I've already pointed out the flaws and risks in it and also the pro, not going to dive in this again but when you play with large sums and little reserves it sounds to too dangerous for me. In particular, governments should introduce bills to require not just Level-3 KYC info from prospective loanees (basically documents that prove the source of your bitcoins), but it should require things like SSN and other things that credit rating checkers need.
Hmmmm, no! Let's not open Pandora's box once again, we should have learned the last 100 times nothing good comes out of it. |
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Does anyone know the nature of the content being taught or is it just lessons on how to use Bitcoin?
I've done a bit of digging but come out a bit empty-handed, it's Spanish and I'm not really good at it, plus google makes a mess of translating, better without it. Here is the website of the NGO that is involved in the courses: https://bitcoinargentina.org/charlas-introductorias/https://bitcoinargentina.org/que-es-blockchain/And here is their youtube channel with a few of the videos: https://www.youtube.com/c/OngBitcoinArgentina/videosSome are basic good, short pretty accurate videos, some are one hour long interviews, some have names that I could live without, trading, NFTs, and this one..."¿Puede un Bitcoin llegar a valer un millón de dólares?" I don't want to know what's in there honestly. LE: Seems like this is a video about the description of the project https://drive.google.com/file/d/1o1HoMHljEfMHy6osM6IPSUQlUVVn6He5/viewso if you know Spanish, take a look at it. |
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This isn't sideways for bitcoin standards. We have seen 48k last month, then 40k, then 26k, now over 30k. That is not a sideways, sure for the past few days we have been a bit sideways but we can't move breakout every single day, we need to end up with a bit of a challenge and that should be something a bit better.
Indeed, what sideways is this? Exactly one month ago we were at 41.5 k, that's a 27% drop, this is not sideways at all, on the 5th we were nearly at 40k, again one hell of a drop and no recovery, and this sideways move would have to be also a bit over not just below and recovery. If I look on a 12h/6h frame at the recent graphs it looks like the sideways move (if any) happened more in February-April when we would go from 45 to 35, 35 to 45, and stay there for a few days at least with good pauses at the 40k level. That looks like sideways movement to me, what we have now is more like a try at stabilization around 30 after one shock. |
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To be honest I'd rather prefer if schools had a subject of investing and finance by default, rather than Bitcoin specifically. Explain to the students how to save money and what investment instruments are available, then just let them decide themselves what they should invest in and what the allocations are.
Yeah, I always said that economics and finances should be mandatory from an earlier age in schools. Teaching people about bitcoin and cryptocurrencies committing personal finances and the risks of investing will only do half of the job. Of course, we; 're in the dark here and we don't know what they are teaching them exactly about BTC and what aspect will be favored in this but I do wish it will focus on the things bitcoin fixes and the importance in personal security and it will leave anything related to price out of it. I think this is great, and not for the reasons people might think. I don't care about investment education that much, or rather, I don't think that should be the main focus of education on BTC and crypto.
I wouldn't want a talk about investment either but I would definitely suggest one about the risks of it when it comes to cryptocurrencies as a whole and the differences between them. There are too many that think every bitcoin clone out there will have the same success just because of a few loose common characteristics with it and get trapped or bankrupt in rug pull schemes. |
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If only people would understand what they are reading, and it is so damn simple. But of course, when you're rushing to post propaganda, you're omitting facts just like Russian have forgotten their armor before going to war. From your own article: “China is now clearly buying more [Russian] Urals cargoes. Exports of Urals to China have more than tripled. That comes despite a weakening in Chinese imports,” said Homayoun Falakshahi, a senior analyst at Kpler.
China, where total oil imports have fallen recently because of COVID-19 restrictions, is also the largest buyer of Russian ESPO Blend crude.
You see those two names there? It's Ural and Espo oil, not Wti and Brent. And guess what the price for Ural is? 76.99, what's the price for Espo? 74.57, expanding the charts and going 9$ lower means Russia is selling right now the cheapest oil since 2017 (excluding the april covid scare). But of course, it's good news! It's a world-class master chess move! Looks like Russia will be Chinas bitch before the year is out.
The way things look, that's the only thing he can still hope, the end point seems to be eunuch slave. |
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Everywhere i find it shows formulas which i am not interested in, I am interested in how I can implement it in my trading decisions.
So, you're not interested in how it's actually calculated but you're interested in trading knowing the value. Sorry but this is just like some dude who doesn't understand how an engine works but wants more power and torque from it. Anyhow, if you're not keen to learn how it's done then simply straight to the question Like for example if btc volatility is 4% does that means it goes up and down 4%?
No! First, it doesn't need to go in both directions and the way it is calculated will most likely not end with a 4% result. |
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I would say that if you're not managing to get the minimum of 0.001 some major pool still have, that's 30$ in let's say two months it's likely you're not making a profit either so you would be better
- dumping the miner on eBay for a few $, people will buy any kind of s&^% and use those to buy some satoshi
- if you don't care about losing money, noise, or heat, you could simply go solo and hope on the jackpot
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We all know and use the concept of "Whale". However, after all, the whale is the largest animal in the world that has no enemies and peacefully swims in the ocean. And Whale doesn't eat other fish, it eats one plankton. You missed the biology class, right? First no, there are whales that eat fish, there are whales that squid, and while everyone called them dolphins both killer whales and sperm whales are also a part of the toothed whale order. And as the name suggests those things kill everything from sharks to other whales. But of course, "Hwale" may not take root, but you still need to come up with some kind of word to refer to such "new rich" in crypto.
Of course, it won't because it's just a rip-off from HODL, nothing more. Anyhow, the term whale was not invented by crypto lovers, it's a term borrowed from gambling as that's one of the first things that really took off with crypto and it's about being a high roller. you can check the forum yourself, before 2012 nearly all the talk about whales was about the animal itself. |
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That's true at the moment, although that's why I said that in the future we might actually benefit from this sort of technology. Electricity can be generated via green energy, mining resources can't. Obviously, to be able to do it we'll need to use our existing resources. However, utilizing things like solar, and hydro plants could potentially increase the amount of green energy being used. The way the world is going, there's enough funding for this to become a reality.
I agree on what you say but I was just focusing on this exact case, in which we have no clue of the source and even if it were green and all the energy would be green, the way he does it by driving and then using batteries simply wasteful, probably close to 20% waste of electricity compared to a traditional home-based setup. I don't think this free electricity for electric cars will last long.
It's just for some tesla models, and yes it will last quite a while for the ones who've got it, it will end only if you sell it or you destroy the car https://www.findmyelectric.com/blog/tesla-free-unlimited-supercharging-how-to-check-if-you-have-it/I don't think that this news is worth thinking about it's does not only seem fake but it's also quite absurd. This news might be fake as well, what makes me think is what could have pushed the people to use it in that way? Is mining illegal and they been hiding the equipment in car? It's also a big equipment as well, I don't understand this news.
Not fake, it started as one guy doing something unheard of and then some taking advantage of cheap energy, although for an ASIC mining is really not such a breakthrough because of the overall huge consumption it would make you travel to the station every 4 hours. Anyhow, this was debated a few times, including in another topic, and the first event is from 2017 https://electrek.co/2017/11/29/tesla-mining-bitcoin-model-s-supercharger-power/And for everyone thinking of doing so, let me quote myself again: Besides, imagine having 10 3090 in your trunk and an asshole crashing into you at a stop sign.  |
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