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4421  Other / Meta / Re: Suggestion to update the obsolete moderators from various boards / child boards on: June 02, 2020, 09:35:53 AM
mods are getting paid for the work they do, right?
Yes they are, per month I believe, although I can't recall where I came across that;
Actual expenses (from my records): 225.9696519

Expenses breakdown:
- Hosting: 27.96617
- Forum improvement: 40
- BTC storage: 21.9
- Mod payments: 136.1034819

This doesn't include any income since the last mod payment, and there may be minor floating-point errors that I don't care to account for.

I also support updating the information on forum boards. Some users like to PM mods to know why certain actions were taking against them; like post deletion. And those messages could end up being sent to wrong and/or inactive profiles
4422  Economy / Economics / Re: India's new financial package is a national laughing stock - what do you think? on: June 02, 2020, 09:17:39 AM
So get out and work! Don't be afraid! And even if you get sick because of it, we will give you free treatment.

This idea would be practical if the nation has a very efficient Health Care system to be able to stay above the curve. The virus has a low fatality rate should the cases be attended to, but a rapid spread rate. In a situation where there are more patients than the health system can admit then the death rate tends to go higher. India has a very high population and the the virus can spread easily there.

On the flip side nations can't remain closed indefinitely pending a vaccine. Nations have to be opened up, but this should be done with caution and only relevant sectors should be allowed to, while following health guidelines. Funds can also be diverted to the purchase of PPEs.
Herd immunity could also be achieved after a while.
4423  Other / Meta / Re: Ban evasion on: June 02, 2020, 05:17:04 AM
I would say use the report to moderator button, but that only allows so much info. Definitely not enough space for a whole report.
I couldn't find a definite limit on the number of characters that can go into a report, but it seems to be large enough to take a whole report, with evidence. This thread were it was discussed by mods also suggests that.

The little bar space for the report, makes it appear that it can't take much characters, it would also not be user friendly to write a long report, as proofreading would be a hassle. A box to comment similar to what we use when making replies would be a better option.
However, maybe the idea was not to encourage long reports.
4424  Economy / Speculation / Re: Bitcoin and Altcoin Market Analysis - Monthly Close Edition on: June 02, 2020, 04:51:30 AM
Currently, the price had a good pump today, and trying to breach $10k again.
The price has broken through the $10k resistance a few hours ago, and is currently at about $10,111. I expect it to climb higher testing the $10,500 range and also finding a good support level.
A push for $12k is also possible in the next couple of weeks, if the price averages here. It's been over a year (July 2019) since we saw prices within that range.

Alts are also being dragged along with the entire market being green.
4425  Economy / Speculation / Re: Question about Speculation on: June 02, 2020, 04:38:49 AM
The market value of Bitcoin is usually controlled by demand and supply; how much are investors willing to pay for it, and how much are sellers willing to sell at? This drives the price on exchanges. You should note that the price of BTC can be different on various exchanges due to difference in bids and sells. Sites like CMC averages the price on the various exchanges.

So basically you can say that millionaires of localbitcoins and other selling sites kinda control the price?
Influence the price is a better word. Reason being that you can not be sure that your trade would be reflected instantly on the market. It's a high risk strategy to try and raise the price by raising the amount you're willing to buy at, you would need to be making a very large trade, and there are no guarantees.

There are other factors that affects demand and supply, and will determine whether the general sentiment is bullish or bearish
4426  Economy / Economics / Re: India's new financial package is a national laughing stock - what do you think? on: June 01, 2020, 08:11:13 PM
My conclusion: The entire package doesn't talk about any direct help for the people. It only talks about cheaper loan availability to the industries. A classic example of directionless leadership.
This article reports that India distributed about $22.5bn in food supplies and cash transfer to vulnerable families last month. It was billed to have reached up to 800 million people.
Also, If the loan packages can be distributed to SMEs then it could reach the grassroot of the nation, thereby touching more lives and this would equally help boost spending and support the economy.

Governments also have to regulate the money flow to prevent inflation.
I made a reply few days ago on how giving out loans to small, unsustainable businesses is going to affect the UK as statistics shows there would be lots of defaulters.
4427  Economy / Speculation / Re: Grayscale Buys 800% More Bitcoin Compared to Q1 2019 on: June 01, 2020, 07:56:18 AM
I totally don't see the connection. This is nothing about Grayscale buying bitcoin to manipulate the markets, this is just to show you how much 1 entity buys bitcoin. Theoretically, if everybody held and nobody sold, even if Grayscale were to mine all the bitcoins on their own it would be enough to meet the demand they have. THIS is what the title's trying to say.
Don't misquote my reply. I was responding to @adaseb who was asking why there has not been any increase in the price if the demand for bitcoins is increasing. I wasn't suggesting that Greyscale we're attempting to manipulate the market, nor did I comment on their intentions.
4428  Other / Meta / Re: UP Button for post - For original poster on: June 01, 2020, 07:29:09 AM
This is not a bad suggestion, but, I have an issue with it affecting the forum layout.
An alternative could be the edit option. If changes are made to threads, and the updates could get lost in the replies, the OP can edit the original topic, and bump up the thread so it increases visibility. If users are going to check the first pages to see a reply that was brought up, then they will likely not miss an update on the OP.
The reserve option is also being used and works pretty fine imo.

This quote from theymos suggests that he may not want to allow thread starters to have extra benefits:
The purposes of the unofficial rule are:
 1. Prevent excessive bumping, which is unfair to other topics.
2. Prevent people from monopolizing pages of topics, which is unfair to other posters.
 3. Prevent padding of postcounts and similar, which is basically spam.
4429  Other / Beginners & Help / Re: As a Beginner in this Forum on: June 01, 2020, 06:55:18 AM
So you want to learn the technicalities of bitcoin and also price speculation (trading) at the same time? If yes, then my personal advice is to focus on one thing before going to the next. If you start reading the whitepaper and mastering it before doing anything else, you'll most likely do better than most starters
I do not recommend newbies to begin with the Bitcoin white paper, it's not a resource for beginners' as it contains lots of technical stuff about the Bitcoin network. More interactive learning is the better alternative imo. YouTube videos and online courses. This forum is also a repository for Bitcoin information, and this can be accessed using the SEARCH option.

As newbie to Bitcoin/talk
• Do more reading and research
• Familiarize yourself with the forum rules and guidelines
• Contribute to discussions you know about or have interest in learning
4430  Economy / Gambling discussion / Re: Germany League - Bundesliga Prediction Thread on: June 01, 2020, 06:35:36 AM
For today's fixtures, I expect a win for Dortmund, with O 2.5 goals, I'm not so confident about Mönchengladbach, I'll add it to the parley as both teams can score, O 2.5 goals.
Well, I should have had more faith in Mönchengladbach. It was however still a good betting day overall. Dortmund got over 2.5 and the Mönchengladbach got over 2.5 goals, and GG.
Leipzig has to win today to get into third position, and a  top four spot, and hope that Bayern win against Leverkusen on Saturday so they can further secure that spot. I expect Leipzig to win, scoring at least two goals.
4431  Economy / Economics / Re: Economic Impact Of Commercial Space Exploration on: June 01, 2020, 06:20:45 AM
It would be a welcome development if private individuals or corporations are interested in its exploration. Space exploration is relatively costly and might give out a little or even no immediate and middle-term ROI in return.
I watched a video recently which stated that spaceX could generate revenue by launching cargo based rockets to space. So basically, they'll be ferrying equipments to space for agencies. This is a means that can be exploited. According to Wikipedia;
Quote
In 2008, SpaceX won a Commercial Resupply Services (CRS) contract in NASA's Commercial Orbital Transportation Services (COTS) program to deliver cargo to the International Space Station (ISS) using the Falcon 9 and Dragon capsule. The first mission under this contract launched on October 8, 2012.[20]

SpaceX clearly has nothing to do with Bitcoin. No point even starting a speculation here.
Wasn't suggesting it does. Just asking, if you're rich enough, would you go on a trip to space?
4432  Economy / Economics / Re: Banks would suffer till at least 2025, according to IMF on: May 31, 2020, 09:19:24 PM
In the just released headline of the financial times they report that banks in the UK fear that up to half of the receivers of the Bounce Back Loan Scheme would default, the total of which was £18.5billion

They are also predicting the collapse of hundreds of thousands of small businesses. It appears that some of the loans were not made in adherence to due protocol and would have not been given out otherwise. The size of those businesses makes it difficult for the government to take equity and if they are written off it would affect the lenders involved, which are the banks. And the collapse of so many SMEs would impact the market.
4433  Other / Beginners & Help / Re: Beginner's Guide to Transaction Fees on: May 31, 2020, 02:58:15 PM
I am not sure if I understood you correctly, but in real life you will be sending these coins to someone else not to yourself. Are you suggesting to not request the change back and to pay more than you should just to reduce the transaction size?
You make a valid point and this suggestion can only be used in limited situations; such as when you need to make two different transactions to transactions to someone over a period of time but rather merge them into one so as to spend the exact amount in a single UTXO. It could also be useful when sending to a close relative. Newbies can keep it in mind as a workaround should a situation arise where it can be implemented without incurring extra cost.
4434  Economy / Economics / Economic Impact Of Commercial Space Exploration on: May 31, 2020, 02:51:16 PM
On Saturday, Space Exploration Technologies, also known as SpaceX successfully launched a manned-rocket into space in collaboration with NASA.
It's the first Space launch from the U.S. soil in about nine years and could be a pivotal landmark in commercial space exploration.
The successful launch comes after years of testing and retesting which began in 2015. The company established by Elon Musk in 2002, has undergone series of safety protocols, successfully launching an un-manned rocket some years back. And it is the first private company in history to launch astronauts into space. This is something that was thought to be impossible and can have huge economic implications.

SpaceX’s Successful Launch Follows Years of Setbacks
Strapped into a reusable, gumdrop-shaped capsule called Crew Dragon, veteran astronauts Bob Behnken and Doug Hurley embarked on a scheduled 19-hour voyage to the international space station circling the globe 250 miles up, with President Trump and Vice President Mike Pence observing the fiery scene in person. The Space Exploration and Technologies Corp. Falcon 9 rocket lifted off at 3:22 p.m. local time, successfully reaching initial orbit 12 minutes later.

SpaceX also successfully landed the booster of the rocket which usually crashes into the ocean. This can now be reused in future liftoffs significantly cutting down cost.

Some of the economic implications of space exploitation includes;
Employment opportunities: space exploration by private companies would open lots of employment opportunities directly and indirectly, by employing more people and increasing demand for machine parts.

Space tourism: Just as people take vacations in relics and islands, commercial space travel would make it possible for one to pay for a tour in space. It would be more expensive than a trip to an island but more affordable than boarding a public rocket and would open new revenue means

Technological advancement: more private companies launching to space would lead to more satellites being set in orbit, this would have lots of impact on the way data and information are shared and how it can be utilized.

Beyond space: this successful launch could also lead to further advancements being made and we could venture beyond space, establishing livable habitats on planets like Mars. This however is still a futuristic agenda.

What impacts do you predict this would have and should Bitcoin go to the moon, would you be boarding a rocket to space?
4435  Other / Beginners & Help / Re: Beginner's Guide to Transaction Fees on: May 31, 2020, 01:28:55 PM
Well, this is not exactly consolidating. It's more like coin control which you explained in a previous point (Reducing the number of inputs).
Consolidating means gathering different UTXOs in a single transaction and sending them to a new address. You can read more about it
The suggestion I was passing on was a way of reducing number of outputs rather than inputs. I could replace consolidating with matching inputs and outputs, to prevent the need for a change address which would increase the number of outputs which goes into a transaction.

If I received 0.056BTC in a single UTXO and I wanted to spend 0.5BTC, the remaining 0.006BTC will get returned through a change address, increasing the number of outputs. If however I spent the entire 0.056BTC, there will be no need for an extra output, thus reducing the transaction size.
4436  Economy / Gambling discussion / Re: La Liga (Spanish League) Prediction Thread 2019/20 on: May 31, 2020, 01:15:41 PM
I don't think he can back at Barcelone anymore. It is not Barca's way. Pep may want to turn back but I don't think Barcelona will want him again.
The most recent coach to have managed Barcelona over two spells is Louis Van Gaal. He was coach for three years before departing in 2000 and returning in 2002. He was sacked a few months later.
Pep Guardiola was very successful at Barcelona during his for year stint, and I have no doubt that he would be welcome at the club if he chooses to return, as he is still one of the best managers around.

I had read in a few places that Barcelona could take Xavi an offer for a new mission. Don't you think it's a good experiment? For both Xavi and Barcelona.
The club and fans are hungry for success, especially in the UCL, an experiment is not what the club needs now, and it may be too early in his career for Xavi, I would rather he managed some other teams and also built his style and philosophy before taking up the Barca job which I have no doubt he will get eventually.
4437  Local / Nigeria (Naija) / Re: Projec Covid-19: Supply to 50 families in Nigeria outside my community {Update}. on: May 31, 2020, 10:14:04 AM
This is a great initiative and would be beneficial to communities in need within the country. I was very impressed with the management of the first community outreach. And this one would touch even more lives. You're doing amazing work @Brainbosscares
4438  Alternate cryptocurrencies / Altcoin Discussion / Re: Will an asset-backed currency or altcoin solved the world economic problems? on: May 31, 2020, 08:28:34 AM
Isn't the printing of money out of thin air already the solution to the problems that we have now? Think about it, they are doing that because of the current economic situation. There are a lot of people who will work and wants to get paid more and maybe the government is going to reward that.
Injecting funds into the market out of thin air is not a solution to the problem, it's just a way of encouraging spending to help support the economy, it also does not lead to an increase in employment. When money is printed by he banks out of thin air, it increases the amihnt in circulation and an increase in supply this decrease the value of the currency and increases the value of assets, leading to inflation. Other would adversely affect the economy in the long run.

What do you think about the possibility of an asset-backed altcoin or currency rising to become a well-accepted means of payment? This is more like returning to the possibilities that existed during the era of the gold standard, will such a move solve at least a majority of the world's financial problems?
Global adoption for a cryptocurrency as a means of exchange is not feasible at the moment. I also doubt if an asset-backed currency is the solution, as it has to be backed by an asset that is resistant to the economic crisis. Centralization and scalability issues would also limit it.
The world is still run by fiat currencies, while cryptocurrencies are mostly viewed speculatively, or as a means to hedge funds.
4439  Economy / Gambling discussion / Re: Germany League - Bundesliga Prediction Thread on: May 31, 2020, 08:09:41 AM
Werder gave themselves a chance with that win against Schalke, Mainz losing at home also helped.
They have 1 game in hand, I did not give them any chances 5 days ago but things change quickly in football.

Both teams still have a couple of tough fixtures to play before the end of the season, Werder Bremen would be hoping Bayern would have sealed the league title before they have to face them on the 16th of June, Mainz would be hoping to get similar luck as they face Dortmund the following day.

For today's fixtures, I expect a win for Dortmund, with O 2.5 goals, I'm not so confident about Mönchengladbach, I'll add it to the parley as both teams can score, O 2.5 goals.
4440  Economy / Speculation / Re: Grayscale Buys 800% More Bitcoin Compared to Q1 2019 on: May 31, 2020, 07:30:34 AM
Great demand needs to be matched with higher prices... if we don't get this then obviously something isn't right.

Wouldn't this have something to do with the high trading volume, according to CMC, Bitcoin has a 24 hour volume of $31.5billion, this equals over 3 million BTC being traded. So it would take a much higher purchase than this (about 19k) to have an immediate impact on the price. The current economic crisis in many countries could also be a limiting factor.

However with the increase in demand and the sentiment of traders going to neutral, we would likely be entering a bullish range soon, and an upward in the next few weeks.
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