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6161  Economy / Economics / Re: Economy restart big Boom and prosperity Coming on: August 07, 2020, 08:10:17 PM
This would fuel a greater recession and an even more greater economic problems in contradiction to what you're visualizing. More debt created = more instability in world economy = more fun for the world (jk). But an economic reboot would still be unlikely until a full-blown recession is really on the horizon. Governments will keep on giving helicopter money until it can't no more and everything crashes. There's really nothing to be optimistic on here if the world would experience yet another economic meltdown.
6162  Bitcoin / Bitcoin Discussion / Re: Flooding in China effect on bitcoin on: August 07, 2020, 07:33:21 PM
Most mining operations are situated on the mountainous region of China, and a lot of miners have since moved out of the country and found themselves on other countries where regulations aren't tight while the operating costs are still cheap. The 'rumors' on the Three Gorges Dam being structurally weaker and failing to do its job is just hearsay. While flooding on the low-lying parts of the region is a regular occurrence, I don't think it is that bad to be actually a cause of huge concerns.

And yep, bitcoin mining isn't affected in any way.
6163  Bitcoin / Bitcoin Discussion / Re: Profitable days of holding bitcoin percentage (98.5%) on: August 07, 2020, 06:44:59 PM
Holding coins is actually a pretty nice strategy, although it isn't applicable to everyone since all of us have different situations in life that enables or disables us from investing passively. While some may have the luxury of time and is willing to wait for a good harvest, they may not have the money to invest, or some might have loads of money but never has the time to manage or check over their coins.

It's a great idea to put that into perspective on how many days bitcoin has been profitable in a general sense, but it's not really helpful to some of us who might have invested when the prices are high and suddenly a crash happened.
6164  Local / Others (Pilipinas) / Re: Online transactions and house bill #6765 on: August 07, 2020, 05:49:18 PM
With the growing debt of the nation day by day, they are trying to seek for ways to at least pay for that debt, or to supplement whatever payment they can recoup with the available taxation streams they have currently. Para sa akin, malaking kaswapangan naman siguro kung pati sa industriya ng video games ay makikihati pa sila. Sapat na siguro yung mga taxes at duties na binabayaran ng mga publishers at related people sa gaming industry pag nagdadala sila ng product nila dito. Aggressive tax models wouldn't do the cut kung yung humahawak naman eh palpak at incompetent.
6165  Bitcoin / Bitcoin Discussion / Re: Mtgox trustee and return of funds on: August 07, 2020, 04:38:18 PM
MTGox will never be able to rehabilitate itself. People will never believe them again.

It's not really the goal why people are pressing charges and taking necessary legal actions against them. They just want their money back and make it a done deal and not get stressed about the drama of the past. I'm pretty sure no one would ever trust Gox or any of its upper-level associates and employees ever again due to the fault of its mastermind. Once the claims are done, people would just leave shit behind and expend their energy into something else, that's for sure.
6166  Bitcoin / Bitcoin Discussion / Re: Average Congressman has nearly 60 years. Can those grandpas regulate bitcoin? on: August 06, 2020, 08:52:37 PM
I'm pretty sure they have advisers even though they are already seated as legislators and regulators. These advisers can explain to them what cryptocurrencies are in a concise manner without overwhelming these grandpas that you speak of. Also, it's not as if they're dumb or they're incapable of understanding, though I agree that they will surely be close-minded when it comes to these novel things. We will move forward even with the old-timers doing the regulations for us, that's for sure. Lobbyists would be a great help in making them understand certain things that might be too complex for them since they don't have it back in their days.
6167  Economy / Economics / Re: What should you learn so you never get affected by a economic crises ? on: August 06, 2020, 07:59:13 PM
It's not as if our technology is accelerating dangerously fast for us to be put in a precarious situation in the future. Mind you, there are still some limitations on the advancement of our current tech. such as in the department of the processors and how small they can be. This calls for the creative and innovative minds of engineers to bend these limitations to something workable and still capable of progress no matter how small. Investing your time into learning something related to engineering might be of help to secure you some jobs in the future when robots take over, since these robots would surely need someone to work on them to improve even further.

As for the normal things a person can do to minimize the effect of an economic crisis to himself/herself, studying the movements of assets and knowing which assets would serve best for a hedge on the season is a good strategy, although not something that works as always since most of us probably don't have the knowledge to know which is which within a short period of time.
6168  Economy / Economics / Re: Since jobs are unlikely to return, Do u think there will be a 3rd $1200 stimulus on: August 06, 2020, 06:04:39 PM
It could happen honestly, due to a lot of things still going pretty haywire on that side of the globe. Add to that their situation which isn't getting any better at all for the last few weeks, and a lot of people are still losing their jobs day by day. The government might send yet another stimulus check, just to offer a temporary solution to the woes of the unemployed and those who are severely hit by the pandemic. Though that might be the case, we still aren't sure what course the Trump administration would take in addressing this problem further. It's not just the citizens who are asking for financial assistance but also other industries that are badly hit by the stoppage of the economy. Things aren't looking pretty neat for the Americans unfortunately, and might not be for the next year or years even.
6169  Economy / Gambling discussion / Re: Netherlands pilot scheme to allow women to play in senior men's team on: August 06, 2020, 05:35:56 PM
Men's league is simply too much for women. Not that I'm saying that they're weak or whatever but it's just that men tend to get more physical and more aggressive in their play style against anyone in the field in a contact sport such as football. Also, one reason I see why this would not pan out very well is through fan objection. Men usually hold back when they are pitted against women, giving them some form of 'handicap' on matches which isn't really enjoyable and fair to bettors and fans alike. If this is a non-contact sport then I would definitely agree, especially if it requires more skill and decision-making, but on a highly-physical game such as football, this is not a good idea.
6170  Bitcoin / Bitcoin Discussion / Re: 4 US Congressman wrote to IRS to ease tax on POS rewards on: August 06, 2020, 04:18:58 PM
You will really ask yourself what are the intentions of these congressmen because all of a sudden they became interested in a certain facet of cryptocurrencies that most regulators aren't even peeping into. It's as if they see more value in regulating and awarding more lenient and lesser taxation in POS coins rather than bitcoin which stayed and proved what it can do on the bigger stage. Anyway, it would be interesting to see what will be the reply of the IRS on this letter. Probably no reply or some 'we'll be working closely on this..' type of reply but yeah, just fascinates me that the men and women of the law are seeing something on POS coins for the first time.
6171  Economy / Gambling discussion / Re: Las Vegas Casinos Scared of Lawsuits on: August 06, 2020, 02:47:58 PM
I wonder what the response of the Las Vegas mayor after these sentiments were expressed by casino operators? She's the one who pushed with the opening of the casinos since she believe that the economy is far more important than public health and safety and here we are Roll Eyes

If those casinos followed minimum health standards and safety guidelines, they shouldn't be afraid of lawsuits, and its within the discretion of the player to risk his/her life by playing within a casino. I mean, it's not as if that's the only place a virus could linger, especially if it's sanitize for the most part of the day.
6172  Economy / Service Discussion / Re: Google Advertises Uniswap Phishing Scams on: August 06, 2020, 01:43:09 PM
They are paying for that spot on the search bar, and if you think that it is a malicious website, just report it to Google and it will be promptly taken down after garnering similar reports. That's just the way it goes for Google ads for the past few years, and if that's not enough for you, you might even see rated-X ads on family-friendly website lingering around every now and then.

It's just funny that Google had been releasing statements against scam sites and whatnot but keeps on placing such ads without doing a background check on who pays for what.
6173  Economy / Speculation / Re: Custodial accounts for bitcoin the more important than could have ever thought on: August 05, 2020, 10:30:59 PM
I get your point about custodial accounts being safe but the one operating such service is what most people are worried about. While true that personal accounts on such services cannot easily be compromised due to a number of security features and all other implementations, there's really nothing a user can do if the whole service itself gets hacked. No safety nets, no guarantees, no assurance--just another creditor shouting scam and just waiting for whatever money the service can give back as means of 'honoring' their word to avoid jail time.

But it can be done in an auditable way, custodians can keep the coins in cold storage and sign with their addresses to prove that they have coins, then auditors just need to look at the client's investments and verify that it it all balances. And with schemes like multisig, you can have regulators hold one of the keys, so that the custodians won't have a temptation to steal the coins.

Let's say that that's the case. Complete audits, the service has weight and enough credibility and money to operate. At the end of the day, data leaks and inside jobs can still happen and you are still doomed to fall under a sad, sorry state. Even exchanges with the 'best' security implementations and features such as multisig wallets and cold storage have fallen victim to hacks and inside jobs. The point is, if the price is right, operators will risk it--even the regulators can be an accomplice.

Personally, I prefer depositing and taking my coins without any hassle or whatsoever, which is why I will always choose an exchange. The liberty it offers to my coins is simply preferable rather than having someone hold your coins for you, and if you want to take it out, you have to do it on their terms. Whatever floats your boat, I guess.
6174  Economy / Speculation / Re: BTC has hit ATH against Turkish Lira on: August 05, 2020, 09:59:31 PM
ATH against BTC in the negative sense unfortunately.

Even if it's an ATH, it still doesn't look good if the paired currency is devaluing massively. It just shows that the currency is struggling to keep a steady value while the rest of the world are still holding on and not giving in to hyperinflation. Turkish Lira has been sliding towards a bad shape since the start of 2015. Some say it's from the workings of foreign powers, but I mainly believe that it's due to the instability of their government and the lack of incentive to really invest in Turkey and place a mainstay company or even an offshore department from there. Good thing though that Turkey does not prohibit the use and trades of cryptocurrency, as it might help its population save some value on their hard-earned money in the midst of the rapid loss of value of the Turkish Lira.
6175  Economy / Economics / Re: Virgin Atlantic Goes Bankrupt, Bailouts? on: August 05, 2020, 09:10:13 PM
I'm sure they still have a lot of assets on their disposal that they can forego without hurting much of their allowed operations in the meantime. If they don't see this as a solution then IMO, they shouldn't be entitled for a bailout since they can still remain afloat. If other airlines smaller than them can endure the suffering of this pandemic, I don't see a reason why they themselves cannot. As the world plunges towards uncertainty brought forth by this pandemic, here they are, asking for help to not go out of business, and a top priority at that while the rest of the population try to make ends meet, day by day. I understand the sentiment about losing an airline company and its possible effect to the economy, but there are loads of them operating still, and even with reduced capacity and reduced number of passengers, how are they still up and running?
6176  Bitcoin / Bitcoin Discussion / Re: $875 million profited by Cash app this second quarter, amidst the pandemic on: August 05, 2020, 07:12:27 PM
Revenue is hugely different from profits. While they saw a massive surge in users and interest on their app, that doesn't equate to profits at all. Anyway, the huge surge of users on cash app can be attributed to a lot of "influencers" marketing the said app, and have been promoting the said app for months now. Influencers with huge following base tend to influence 'some' aspects of the economy just by their words alone, which shows you how gullible and blind people can be as long as their favorite persona says something on something. Add to that the stimulus fund that the US generously gave to its population. Reports say that people bought bitcoin with that money seeing how stable and how strong the cryptocurrency stood amid the dropping stocks. Cash app is an avenue to that, hence why a lot of people flocked on the app and made their purchase.
6177  Bitcoin / Bitcoin Discussion / Re: Japan's Dormant accounts waking up finally on: August 01, 2020, 04:43:44 PM
The Japanese are crazy traders as well, so we might even attribute these price rises with some of them revisiting their trading accounts and starting to make something out of the current craze. I'm sure the South Koreans will also be a part of this newly-found hype around bitcoin and might even cause some massive pushes along the way. They are seeing something on this activity, that's for sure.

Anyways, maybe with these events happening, there would be eye-openers towards the government to really focus on developments on CBDC just like in the article. Then, it would be better for everyone. As for Libra, discussed in the article. They are possibly aiming high to be the future of money instead of just being a "token," and it could be labeled as a shitcoin.

I don't think governments will eye on CBDC rapid development just because crypto is surging recently. Well, some countries might find it as a sign but others will surely focus on other things rather than spend on R&D on CBDCs. The road to countries creating their own CBDCs is still a winding one with a lot of uncertainties, but we'll get there eventually, and the current events are surely not catalysts to it becoming a reality.
6178  Economy / Speculation / Re: Where do you see Bitcoin price by the end of 2020? on: August 01, 2020, 02:43:15 PM
$15k is a reasonably good price, and I’m comfortable that we might touch very near to the 2017 ATH but not surpass or overdo it. We’ll be met with a lot of sellinn pressure on that range before we can even push further, just like what happened to the ATH in 2017 where people expected that we would be able to push for more. If the momentum continues even after 2020, we might even breach the previous ATH and things will start to go crazy. For now, we’re still testing the waters for further highs.
6179  Economy / Gambling discussion / Re: Slots in Online Casinos on: August 01, 2020, 02:06:49 PM
So basically, you are just confused on the organization of slots that you are seeing on the online casino, right? That's actually a good suggestion, though I believe most gambling operators label slots as the same one even though they have different graphics or whatever element is different from them. They won't care as long as it serves its purpose though, and as long as players are flocking in on their platform, it doesn't really matter that much IMO. Real-life casino slots are also arranged on the same way IIRC. Last time I was in Macau, it's the first thing that you see upon entering establishments, though I agree that it's easier to choose which machine will you use to play since it's easy to pin-point where you want to play.
6180  Economy / Gambling discussion / Re: 🌟Just seen someone win $42,000 in btc on bitvest.🌟 on: August 01, 2020, 01:35:57 PM
I don’t think so. Large bankroll ensures you to have a longer time playing in a casino but does not gurantee you a win IMO. Unless you’re really lucky that is, then maybe there’s a chance to beat the casino in one way or another, but that’s really a rare occurrence. The user might have beaten the house for this instance, but there’s no guarantee that he’d be able to do it again and again since the house always wins.
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