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5881  Economy / Economics / Re: Lend at Hodl Hodl: True P2P Bitcoin lending is here on: October 23, 2020, 04:48:11 PM
It truly envisions a true P2P platform, although I still have doubts on its viability since it's not common for people in this day and age to ask for loans and put btc as collateral, given that most people back then ask btc and give other altcoins as collateral in order to just dispose their coins that they cannot sell in the market. It's good that the platform is already out, though I don't think it will be utilized fully considering that most are just eyeing on DeFi loans anyway and are getting what they truly wanted, plus the fact that it has been around relatively longer and performs relatively well given the minimum collateral amount that safeguards lenders from wild rides on fluctuations should the borrower decides to default.
5882  Bitcoin / Legal / Re: SEC issued $5 million penalty to KIK Interactive For Unregistered Offering on: October 23, 2020, 04:06:18 PM
They didn't explicitly exclude US citizens from their token offerings from the get go, which prompted the SEC to launch an action against the company. Had Kik walked along that route, this shouldn't have been a problem, and they would have been operating still without any problems from the law enforcement. To be fair though, $5 million is just a small price to pay, compared to the total sale price of $55m that they have acquired from US citizens. Also within a span of 3 years, I'm sure they made more than that, and will be very happy that it's just a fine that they can get away with.
5883  Economy / Economics / Re: Crisis will be new normal but its not bad on: October 23, 2020, 09:54:03 AM
countries that invest too heavily in the military are countries that aim to control not provide peace..

It only takes one superpower and a lot of weak ones to ignite yet another cruel chapter in the history of mankind. If not for the continuous upgrades of the military on different countries, there will be more bullies around than there are peace in this world. While it is true that most of their aim is to control, having a lot of enemies aiming for the same goal makes you want to think a million times before doing something rash, and the end result is peace. Tension in dualities, yes, but it has worked thus far after the Cold War.

--

We may not be resuming our previous activities sooner, but it obviously helped change some things, most especially our views about epidemics and how important science is on this charted yet still murky waters of viruses and how they can change the world in an instant. It's not a good thing that a huge event like this has to happen first before we realize it since many people died, but it's not, overall, a bad thing.

The economy on the other hand is on a tricky spot. Stimulus funds won't last forever, and at some point, jobs need to resume in order for people to earn some money for their family. It wouldn't be possible for the government to accommodate to all of its citizens needs, so it's kinda hard to jumpstart an economy with those trillions of dollars only for the momentum to get lost almost immediately once the funds dry up.
5884  Bitcoin / Bitcoin Discussion / Re: Momentum Builds for Bitcoin on: October 22, 2020, 11:51:50 PM
I'm also waiting on that Bitpay debit card since there aren't much service providers out there that are really worth getting or are really trusted in the field. That's actually one of the areas that is lacking for bitcoin, avenues to use their bitcoins aside from using it as an investment vehicle. On the speculators' side, seeing a lot of big names in the industry coming in to the field actually boosted their 'belief' on the good performance of bitcoin in the coming weeks/months. They are banking on the fact that more and more people will see the same thing and they wanted to get in early when the profits come in, and so they already bought some bitcoins and stimulated the market as early as the announcement of PayPal.
5885  Economy / Service Discussion / Re: Luno introduces interest paying Bitcoin wallet on: October 22, 2020, 11:06:09 PM
My coins are safe and cozy in my wallets, and they do get me a lot of interest by just chilling and doing nothing in there. With a lot of entities in between, what could possibly go wrong? (Hint: a shit ton.)

I may not be the greatest trader out there, nor do I ever get some handsome returns on my trading ventures but I do know that I can earn more than 4% from my bankroll in less than a year. This ploy would only work out on people that aren't really hands-on with their coins, or do not believe in their capabilities as a trader. Most of these money-making schemes done by Luno are from unsecured loans, and your funds will not be insured, greatly amplifying the risks involved by just depositing with them. This is obviously a no-go for anyone, especially if bitcoin per se is already doing the work for you.
5886  Other / Politics & Society / Re: Shit Hits the Fan: Australia joins US, India and Japan in Naval Exercise on: October 22, 2020, 09:17:58 PM
China is waging war against these allied powers for decades now, in the form of debt traps on small nations that are vital for the US and friends’ trade routes, imports and exports. They are doing it on African countries currently, with some countries in the Pacific and the largest one being the Philippines. Ridiculously, the Philippine government seem to be very cooperative of this setup to China, even agreeing to a joint natural gas expedition on the disputed Spratly islands in the West Philippine Sea.

All in all, everything is going towards China’s favor IMO, from a sociopolitical and economic standpoint. While most countries condemn China for their strategic overtaking of a country’s resources by offering debts and insane terms, most of these countries appear to be very careful on the words that they say.
5887  Bitcoin / Bitcoin Discussion / Re: Jamie Dimon's ( "Bitcon is a scam") Bank -JP Morgan Chase- Fined 1 Billion on: October 22, 2020, 08:31:08 PM
Not surprised that they find themselves in lukewarm (not hot) water again. This is just another mild slap on the wrist of these giant bankers and they will just repeat the cycle all over again unless none of them are charged with sentence and are put behind bars. Also, Jamie Dimon has always been that harsh against bitcoin, though at some point he had become considerate of what bitcoin offers. I will not be surprised if he continues his badmouthing BS with bitcoin because he gets the attention he wanted from it.

One of the reasons for this could be that people are less sensitive to scams related to banks as the whole system is built on it, so such news does not get much traffic when reported or is not reported broadly so as not to create panic. But when scams is related to Bitcoin, no matter how loose the connection is, it usually gathers lots of attention; The massive printing of money was reported by lots of media houses but was not debated heavily on general forums, such a supply hike in a currency like bitcoin would surely get much more interest.

There's also the case of government pushing the narrative that Bitcoin facilitates scams through media houses.

Because banks are the media and government's friends. Without these institutions providing financial support, they would be going under in no time considering that there's not a lot of money to gain solely on news reporting and by being good public officials.
5888  Bitcoin / Bitcoin Discussion / Re: Do you think this is the start of mass adoption in Bitcoin? or Nah? on: October 22, 2020, 07:43:31 PM
This is not enough. They will have a platform to buy, but what about their avenues to spend or use their bitcoins apart from just keeping it as an investment? It has to be more than that IMO, though PayPal accepting cryptocurrencies is already a welcome development. More and more people will see this thing regarding bitcoin and cryptoccurencies; it will arouse their curiosity until they encounter this complicated world of trading cryptocurrencies and they will soon take part in it. Though of course, only a little percent of that curious minds will actually start buying since only some of them will understand what's in store for them if they hold, and a major lot would probably wonder what to do with it if there aren't enough shops that accept it.
5889  Economy / Speculation / Re: Bitcoin broke $13k today on: October 22, 2020, 06:47:58 PM
The price jump is probably caused by PayPal announcing its interest in cryptocurrencies by making its payment processor available for use at cryptocurrency sales. The jump was almost instantaneous, with the 3H chart displaying nothing but positive reception from traders. Of course, the price immediately returned back to high $12k levels but as of this moment, it has returned to $13k and has since picked up a rather slow pace in price movement, possibly due to some traders already cashing out earlier today and some are still asleep on the other side of the globe.

While the events of today somewhat paint a picture that a bull run is incoming, I honestly don't think that PayPal's good news is enough to carry the momentum forward and sustain it until something favorable for bitcoin comes along the way. It's a good day regardles.
5890  Local / Others (Pilipinas) / Re: pano kung ang pilipinas ay magka crypto but it has same value sa btc on: October 22, 2020, 06:21:43 PM
ask ko lng guys pano pag may naka inbento dito sa pilipinas ng cryptrocurrency pero same sya ng value ng peso may pag asa ba maging worthless ang peso o kung hindi man matataasan nya kaya ang value ng dollars ?   Huh Huh

newbie lng po thnxx

Unang una, it has to be legally accepted and acknowledged by the government, which is a tedious process considering na wala pa tayong malinaw na guidelines when it comes to cryptocurrency creation dito, at hindi pa rin 'legally recognized' ang crypto as a currency. Second, marami nang mga cryptocurrencies na nanggaling sa Pinas, and most of them are just money-making schemes for the creator at madalas e ponzi scheme lang na napapabayaan din, kaya mahigpit ang SEC at BSP tungkol dito. Lastly, it has to have support from the people as well, and perhaps ito yung pinaka importante dahil without the public's support, the value of this cryptocurrency is non-existent, and therefore ang paggawa nito ay futile effort lamang ng mga devs.
5891  Economy / Economics / Re: How Can Blockchain Improve Healthcare? on: October 22, 2020, 03:02:03 PM
I see blockchain as an improvement in resource sharing and information sharing between hospitals. Also, this can be a great ledger for their outdated systems which, even in recent times, exist. Heck, there are still a multitude of hospitals out there using Excel for recordkeeping in the era of database and automation! Imagine the advancements of recordkeeping, how much money and time hospital will save when they invest in a one-time upgrade that requires little to no maintenance.. but nah, let them use excel instead.
5892  Economy / Speculation / Re: Are we ready for the ^POMP^ yet? on: October 21, 2020, 10:43:00 PM
I kinda wanna punch myself in the gut since I just sold some coins 4 days ago when the price is just merrily sitting at around $10k. I didn't actually know that something big like this will happen in just a few days, and I still kinda regret choosing to get some of my blades for a maintenance (god I love those swords) rather than just holding the temptation for a little longer. I don't sense that this pump will hold for long since the market, as of now, seems to be overbought by the hysteria caused by PayPal actually announcing this time that they want to work with crypto. I'd rather wait and observe a few days before finally hitting that buy button again if I were you, honestly.
5893  Bitcoin / Bitcoin Discussion / Re: Will bitcoin co-exist with the current financial system on: October 21, 2020, 06:10:04 PM
In some way, it already does, though not to the extent that you’re seeing it. Bitcoin can provide a good hedge against inflation and loss of confidence on traditional assets and currencies, but it does not mean that it’ll replace those and most people will move to it. It can also act as a payment tool for cross-border transactions without having to go through all the hurdles of KYC and high fees, plus it’s immutable, public and decentralized so your transactions are safe forever.

I don’t get why people are trying to make bitcoin look like it’s an answer to all our problems in the 21st century. It’s a great invention and addresses some problems, but some are overestimating what bitcoin can do, and that’s where some misconceptions and failure occurs. It’s an option to be used on cases where fiat usage isn’t practical or is too cumbersome to use, not as a replacement or even a permanent contender to replace what people are using.
5894  Bitcoin / Bitcoin Discussion / Re: Darkside Hackers donating Bitcoins on: October 21, 2020, 04:48:56 PM
Would have been nice if the hackers used some tools to mask their donations at least, like used some other available crypto for the donation and just be done with it. It seems like they are just trying to sway the hearts of many with these small things that they’re doing, but ultimately it doesn’t accomplish much and it just led to the funds being wasted, and possibly being spent by some dudes in the middle.

As for KYC on charities.m, why does it need to get implemented? That’s bs. If people want to donate anonymously then let them do it. Most genuine people like to help without being publicized anyway, so I don’t get why organizations need to know who donated.
5895  Bitcoin / Bitcoin Discussion / Re: Does CoinJoin actually break the link in your transaction history? on: October 21, 2020, 03:30:14 PM
I wouldn’t say that it completely severs any connection you have on a certain transaction as it’s still there, though it does its job pretty well considering that people haven’t complained about it not doing what it’s supposed to do after a long time of existing. Personally I think what you do afterwards is what may give away information to the likes of Chainalysis. These guys have a trick or two up their sleeves that may get you without you even knowing it. As what o_e_l_e_o put it, using block explorers almost immediatey to check your transactions might give away some info. It’s worth noting that block explorers can see who connected from where, and what they viewed from the explorer, so I’d better use something to mask my IP whilst looking on a few, unrelated transactions first before moving in on that particular transaction I would really like to view in which coinjoin is used just to obfuscate the trail.
5896  Economy / Gambling discussion / Re: Lost more in the process to recover ? on: October 21, 2020, 02:25:53 PM
Your judgment has been clouded by your willingness to get back your lost funds. Sometimes, determination to accomplish something is very risky, and it was shown to you firsthand by losing more money in the process.

Normally I would have called it a day and just get back to being busy on something else. I was at the point wherein losses no longer forces me to do irrational decisions since I only treat gambling as a hobby. But during those days when I still win big $ in the casino, I am just like you, wanting to breakeven 'at the least' without realizing that I'm only losing more.

This is why no attempts to recover lost funds on the casino should be made if you're already pissed. It'll just amplify your hunger and anger to win back what's lost causing you to lose even more.
5897  Economy / Economics / Re: PayPal to allow cryptocurrency buying, selling and shopping on its network on: October 21, 2020, 01:25:09 PM
I just hope that their sentiments remain as-is for the longest time. I don't want to see a huge company backing out of something promising ever again (like some merchants removing bitcoin as a payment option) only to get back in the scene after bitcoin has performed extremely well. Not a hater of Paypal nor a fan, but I do see that this is just their way to grab the attention of the market from Square which has bought a huge amount of bitcoins within the span of a few months.

They should stick with this decision this time.
5898  Economy / Economics / Re: Government slowly open the economy, will it make the pandemic worst? on: October 20, 2020, 06:21:16 PM
I have a theory that the reduced r-naught values on populations with high densities is due to people contracting the virus without developing symptoms., and then developing quite a resistance against COVID-19.

Most asymptomatic patients do not develop any form of uneasiness or slight discomfort on the average incubation time of COVID-19, as opposed to those who developed symptoms a week or two after being exposed. As such, the immune system of asymptomatic people have loads of time to develop an immune resistance against the virus until it is completely repelled, and convalescent plasma is developed by the body which is then relayed in the blood stream without the person even noticing it. In this way, the asymptomatic individual would have its own defenses up against the virus, further reducing the spread of the disease in a community setting. Also something to keep in mind that almost 96% of the cases recorded are from asymptomatic individuals, and the numbers could be even higher since most people who don't feel any symptoms just go on with their lives as if it's just a normal day. On paper this should even be scarier, as our models always projects on the worse side rather than the better side, but on an actual setting most models are, in fact, flawed in some ways.

Of course, there is still a threat of promoting community transmission all over again and a single superspreader event can cause all efforts to mitigate the spread to shatter after economies are re-opened. Then again, governments should consider that at some point, people have to go out, earn some money to get some food on the plate rather than keep them quarantined until a vaccine is developed. They can't just propose to give helicopter money to aid the sustenance of their citizens; it will even pose greater problems if not controlled. That's why the imposition of health and safety guidelines should be as tough as ever in order to get the economy back without compromising everyone's health and safety.

Public transport is really where thing would get murky and is a top candidate for a superspreader event. Governments should draft guidelines for people wishing to board or operate a public vehicle. By doing so, the risk of spreading diseases into different communities is prevented, and people would have some means of transportation to and from different locations.

Honestly there's a lot of things to keep in mind before re-opening the economy, but the gradual decline in r-naught values in some of the high-density populations makes me think about us controlling the spread successfully, or the governments underreporting cases to minimize the anxiety, paranoia and fear among the general public in order to support the immediate reopening of their countries to several facets and aspects of the economy.
5899  Bitcoin / Bitcoin Discussion / Re: Bitcoin vs the US Stock Market: "The Breakup" on: October 20, 2020, 04:12:24 PM
A slight divergence from the trend. Let us draw conclusions when the day closes for the stock markets and see whether they meet again in some common points. From what I'm seeing, as election draws near, more traders of the stock market are making their moves depending on what's up on the current polls. Other traders of bitcoin don't seem to care about this event that's why it still stays on its momentum while the Americans are handling their own domestic market. It's interesting, though not surprising since we know that bitcoin and the stock markets are not that tightly-knit that most of the time they go their own separate ways.
5900  Bitcoin / Bitcoin Discussion / Re: How to send fake Bitcoin on: October 19, 2020, 07:29:34 PM
I don't know what you want to achieve with this, but it is just double-spending and nothing else. There are a lot of resources online regarding on how to do it, and if you're really keen on finding it out you should have known to use the 'search' function by now.

Also it isn't a "fake transaction" as it will be broadcasted in the network. Everyone can see it unconfirmed though the next events would be decided by the sender on whether they'd actually let it confirm or not.
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