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Some companies are using it as stable reserve? I must need to check in what sense everyone is talking here when they say “stable”. Most of those companies already got their bank accounts wiped up due to bankruptcy.
Bitcoin is not stable asset. Bitcoin by its very nature is highly unstable or volatile asset. It can’t have fixed price today, tomorrow or anywhere in the near future. It’s supply is getting released slowly however adoption is changing constantly. That can either pump the price but it could also go down if government influences regarding its ban/regulations etc came to effect. Now none of this is fixed and that makes it even dangerous for bitcoin to remain stable in long terms. That’s why it can’t have such Reserve status for sure.
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My dad is 79 yo. He's a retired Ahhh, I think that was literal indication you could have stopped right there and let him be on his own mate. I don’t know, everyone has their own thoughts about it and can do whatever they want but when it comes to old age people and people who are retired should be left to live their own life with their own desires. Who knows your grandpa never wanted to do that? In addition to everything, they are 79 which means they have lived through most dramatic world that we could have ever imagined. I think I would never do that. Did you manage to convince your dads or other older people in your family to buy BTC?
That’s gonna be big no for sure. As I explained my thoughts above, that’s enough justification as to why I wouldn’t ask someone to force into bitcoin. |
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CZ experimenting to hire Gensler seems funny. i would really see this like he was bribing Gensler lol is tempting because the guy is corrupt to the bones.
Am I the only one who thinks that trying to hire Gary Gensler is a red flag? Isn't the platform trying to hide something, or trying to evade something, or at least trying to whitewash its image in front of legislators? Here is another quote for their attempt to circumvent US scrutiny: Despite announcing that it would stop accepting U.S. customers on its global platform, Binance officials discussed how to keep them. In a Telegram chat in June 2019, an employee noted that over 18% of page views on Binance.com were from U.S. users. Samuel Lim, then Binance’s compliance chief, suggested ways to retain the largest U.S. clients, including encouraging them to use a VPN to appear to be located in another country They are definitely trying to hide a lot of things. That’s the whole point here. Grey already has a bad past with the way they conduct business. When someone is flagged under a financial domain then they must not be trusted again ever. It’s also but obvious that such large entity with billions of dollars getting transacted just like that can have fishy business easily. You never know where the money is going and coming from unless and until your business books are perfectly clear. As far as US involvement is considered they only want them for the USD investment and since many richest ones are there, they might need some help getting their money overseas. You know what I mean with this ? |
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I believe that bearing costs is the reason why a person prefers one country over another. Good medical care will not be free, and then you may not be able to afford it, especially for individuals in the middle and poor classes. There are also consequences after the operation, such as care in the first months, medicines and other costs.
Also, some countries are better in certain disciplines, this chart may give you better information, although I am surprised at the reason for choosing Mexico, perhaps because of the flight costs)
snip
Wait, what? I can't see The United States on that list. Does that mean that one of the most powerful nations and a very developed country spends less than 6.3% of its GDP on its healthcare systems? That's pretty surprising, and no wonder why people from there travel to neighboring countries for their medical necessities. And I believe that it happens in almost every country where the lower classes who can at least travel go somewhere else to get proper treatment at less cost. Governments need to take good care of their healthcare systems more than they do right now. Definitely shocking to read that chart. I did the same thing when I saw it and was looking for America. TO the surprise its not even on the list. Something is definitely wrong with the chart above because other sources are showing the USA is one of highest spender on the per person when it comes to the healthcare. Also, by hearing itself one can get convinced considering the nation is highly developed and understands the value of healthcare sector. Health spending per person in the U.S. was $12,914 in 2021, which was over $5,000 more than any other high-income nation. The average amount spent on health per person in comparable countries ($6,125) is less than half of what the U.S. spends per person.  If you look at the chart above then the case is actually reverse of what that post suggested. It is possible that the data is mis-circulated in that one. Above source is from the valid sources such as KFF analysis of CDC, OECD, Japanese Ministry of Health, Labour, and Welfare, Australian Bureau of Statistics, and UK Office for Health Improvement and Disparities. As one can imagine mostly powerful nations are on the list who spends most of the money per capita. Now why those people are travelling to the Mexico is whole new story here and mostly it has to be about costs. The insurance in the American system can hugely impact the decision making process of any person going for high level of illness. |
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Do you think is the right thing to convince someone to invest in bitcoin?
Okay, from my understanding and sense of reasoning I don't think is ideal to convince people to venture into bitcoin without their self willingness.
What do I mean by self willingness?
I have came across two individuals having a serious dispute over convincing him to invest in bitcoin with his little saving around my neighborhood, lemme clear something here, there are some people who invested in bitcoin without them knowing there is a place they called a bitcointalk forum, maybe those people venture into bitcoin by just buying and hold on centralized exchange where they thought is very easily for them to control and sells off without immediate delay. This is about every one's choice. Telling someone to go to this forum and that forum is also risky these days. People has got this habit of poking us back when they fail at something. Tomorrow it may happen that you referred somebody here. That person mate someone or invested in some shitcoin project but eventually it turned out to be the scam project. Who would be responsible for this? No matter how much we tell someone that it is at your own risk, they will always at some point blame us. Its funny, but it gets as serious as your story here. As the story continue, so he said of his friend should pay him back of the money he invested during the bull and it happens that what he invested was down by 60% or even more where he feels unbearably for him to wait more further, he went on saying he's friend should come pay him all his invested money since the price refuses to get back to previous price and he is wanting to use this money for long, to crown it all, he also temper with his mother's funds thinking it would increase more, little did he know the market would dropped unpredictably. Well it's a very long story where the investor reported the case to our local police authority and he was arrested for fraud after paying him back he was released, keep in mind i just try to shorten the whole story but my aim of posting this is to know whether is it good to convince people to invest or not.. Just look at the context here. After reading itself gives me worst feeling of being in the place to guide someone into the crypto OR basically in any type of investment opportunity. It is better that they come to this point by all themselves. If there is really true story and they failed due to genuine reasons I am all set to help them out with it but if it is vice versa then man, I am no help to such people who are blamers. Who gamble with the money of their parents really? Imagine what that woman must be going through right now. She might have mothers heart but come on man, it could have taken her years of hard work to save that money. She must have thought to use it as her retirement journey but turns out it's scrambled now. At this point something came into my mind of sharing here to let people know whether is good to convince people to venture into bitcoin investment or not.
Now, before doing whatever you think is right of doing, try as much as possible not to convince anyone to invest into bitcoin, as it may be people don't always think of disadvantages rather, they are being carried away with positive sides of the talk without knowing the side effects of the bear market.
You can go teach whomever that you wishes to teach, give them reason why they should invest and the other reason why they shouldn't invest if their heart is not yet ready, and let it be they are ready to accept all lost that may arose or arise at any given point than just convincing them to invest without detailing it properly to them in as much as we want a max adoption, also try your very possible best to abstain yourself from being tag and called scammer or a fraudster. Always wait for their feedback and willingness before you could just tell them to start buying bitcoin or holding bitcoin.
Do not convince anyone rather, give them the reasons and benefits of holding bitcoin which includes the advantages and disadvantages, reason because your understanding towards bitcoin and digital money, innovation aren't the same with those who are not mentally developed.
The floor is open for everyone to discuss about their thought and feelings towards this.
Note; I don't intend to discourage anyone from spreading the max adoption of bitcoin and cryptocurrencies at larg.
Bitcoin or lets say all the crypto currencies, anyone can come and get it. Better keep it that way. The scams and blames are increasing day by day. There was time when my friends and whoever guided me back in the time were true to the point about all the risks. I never blamed anyone if I have lost any trade or gotten into trouble of ponzi schemes or lost money over crypto gambling. There should be no guidance these days because of what happens later. |
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Signature Updated.
Thank you.
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I guess you are right because I just won some nice amount of RP again.
As I said in my previous post, nothing has changed. You won reward points in those three spins, just because you rolled numbers lower than 332,308,319. Every time you spin the wheel, some mathematical calculations are done and you get a random number. You get 50 RP, if you hit a number between 0 and 329,308,319, you get 500 RP if you hit number between 329,308,320 and 331,308,319 and you get 5000 RP if you hit a number between 331,308,320 and 332,308,319. You sure about those numbers? I am reading this for the first time even after playing thousand WOF already. I might have been lazy to read the rules or tips somewhere but this logic, I am reading really really just now. Can you point me in right direction where these rules are mentioned. Also, why they chose such random numbers. It is so random, and also a tiny range to hit the jackpots really. What number gives us rolex or amazon winnings? That's true, I don't know to what extent people who like to bet, but many are capable of betting on anything, I think that apart from being fun it becomes a necessity, and people who are like that see it as a lifestyle, something that can be totally understandable, if you have fun with it, who are we to ban it? I don't remember which Will Smith movie that he did with Margot Robbie that was about gambling and they made some unthinkable bets, but they showed that the gamblers there were totally happy when they did it, so betting on the Oscars is normal, at least with the best movie you can make a good bet.
Of course, if a user likes to place bets on anything and gets pleasure from this kind of gambling entertainment, then there is nothing wrong with it. Although I'm more than sure that there are some users who do it only because of attractive odds in one or another event, not for fun. Personally, I would prefer not to place bets on events or sports in which I am not well versed. I dont think we have to worry about the current price of FUN. It's not hovering around above mentioned price two months, but its more than that actually. The price drop is relative to the current market situation. Two years ago things were new for FUN, there were more investors and market was already bullish. I think once bitcoin surpasses it's barriers and goes bull, so as to other coins like FUN will start moving further. Till then, it's better fill up the wallet with it and be grateful later than freebitcoin made us rich.  |
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This is very good question because until now I really thought it's just me who is selling the bitcoin against my own will and wish that there would have been other way to do it. Though I personally try to prominent about my bitcoin savings, sometimes you just can't do anything but sell bitcoins for fiat and use it wherever required. In my time with bitcoin, I might have done this multiple times. However, I have strictly saved most of the amount in my ledger. The only thing I regret is when I miss few payments and I need to cash out them in the fiat and I could not save them in the ledger. It shifts my wishful savings goal all the time.
I am yet to fulfill my goal of having 1 full bitcoin. However, if I calculate all the transactions that happened over my ledger (in and out) then they are pretty close to 1 full bitcoin. Anyways, let's just hope that everyone succeed in such goals and over the time spend less against the will.
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This news came on money control from India where finance minister has launched new rule under which every crypto exchange is asked to keep track of users and if there is any suspicious activity then it must be reported to the authorities. But what's new in this? The news states that there are some harsh regulations and sections which notes that, exchangers are required to report if they also suspect any sort of money laundering that is underway. I am really not sure how this can be tracked successfully and also whether any exchanger would ever open up like this considering they will also get tangled up in the court room if the money laundering was happening on their exchanger. The sections that are mentioned will most deal with strict KYC compliance, anti money laundering practices and due diligence as per the banking system. More or less these are the rules which are dragging crypto currencies into harsh regulations and indirectly they are called for regulated crypto ecosystem. The finance ministry has notified that crypto or virtual asset businesses will now be in the ambit of the Prevention of Money Laundering Act, 2002 (PMLA) and Indian crypto exchanges will have to report suspicious activity to the Financial Intelligence Unit India (FIU-IND).
"Participation in and provision of financial services related to an issuer’s offer and sale of a virtual digital asset... For the purposes of this notification 'virtual digital asset' shall have the same meaning assigned to it in Clause (47A) of Section 2 of the Income-Tax Act, 1961 (43 of 1961)," said a gazette paper of issued by the Government of India.
What does it mean?
Sharat Chandra, Co-Founder India Blockchain Forum said that this notification is a great step towards compliance. "It mandates entities dealing in crypto to follow KYC, anti-money laundering regulations and due diligence as followed by banking and other financial entities which fall under the classification of reporting entities under PMLA," he said.
"Slowly but surely, we are moving towards a regulated crypto ecosystem! Entities such as CoinDCX are now required by law to conduct due diligence and enhanced due diligence under the PMLA," said Sumit Gupta, Co-Founder and CEO of CoinDCX, a crypto exchange. Crypto, virtual assets to come under money laundering provisions |
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Yeah, it's realization that we are grown ups now. Until we were kids we had no idea how our parents are managing the money for house and how the expenses are getting percolated throughout the months. By the time we stand for ourselves in the real world we come to know that we have so many things to take care of and it ain't easy to manage money for everything.
The situation that was there in 19's is similar to what we have in 20's the only thing is appreciation for the materialistic things have gone too far. As the natural resources are depleting and demand is rising due to over population, things are now on our shoulders through cost of living.
That is the main reason we are getting that high burning feeling mate.
Idealistically, our payouts do increase, we also get appraisals for our salaries. Though the formula has been set correctly, the problem is with the faster inflation and lower appraisals for us. It's getting mismatched and we are overburdening ourselves.
The economics management is one thing and actually living with it is whole new universe.
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(4) Banks Network Failure: I can relate to this very well because, before the election season in my country, practically all of the banks experienced failure, making it impossible to use mobile banking and transmit transactions across states. Many shifted to bitcoin and USD as an alternative since there is no middleman or point of failure with bitcoin.
I am surprised to hear this one. I never heard about down time in any bank server ever but there could be some cases as happened with you. I love bitcoin and that's why I am here today but it does not mean we can just let down the banking system and its infra just like that. I mean we gotta say the engineering behind the banking system is slit, and it really maintains heavy load on it's server all the time. The real time gross settlements to automated clearing house, everything works in synchronization even after all the billion peoples are using it at the same time. However, in case of Bitcoin, that kind of scalability issue remains till today. Now I dont want anyone to tell me we have lightening network and shit, that's actually bad excuse one can get over and over again. We know very well how congested the networks were back in 2017. Its horrible management. Hope so we compete soon though its not a race of any kind. |
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This is actually a use case for studying and implementing new features in the BATM. For example, acceptance of only digital means of paying and thus completing diminishing the use of physical fiat / bank notes. This is positively good for saying that we are in the digital workspace and fiat is almost out of the way. Secondly even if the bitcoin ATM gets robbed next time, they wont be able to do anything about it except have it crushed and thrown away somewhere. Or may be just have cool machine at their home to be used as flasher during home parties. Lolz.
BATM should really follow such strategies. Only ATM cards, NFC payments or wallet to wallet transfer only. It can really save up hassle of collecting those notes, securing them and having additional anti theft security around it.
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Why would not it affect all of them at once? The whole world depends on each other. Whether it is internet cable running under water to grain getting exported and imported from one country to other, everything is connected and will affect each other now and then. When it comes to the inflation it is but obvious that one country will raise the costs and thus depending on that the receiving country would have to update the costs in their country as well. This applies to almost every country because now and then some country is connected to other with multiple trade and investment strategies.
Developed nations always comes first in line because they hold most of the important powers in their hands and then slowly the chain reaction happens throughout developing and under developed nations. Though the time is pretty same, the reverse recovery is also true and happens in the same manner.
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Like many times man. I was one of that person who knew bitcoin since the beginning but had zero courage to trust it in the first glance and invest money into it. When my circle started trading bitcoin I was really left out of the circle and was not much interested in it. However, few of my friends really helped me to get involved with the bitcoin in long terms.
Initially when I heard about bitcoin, I was just reading about it and seeing the blogs over internet. It was until 2015-16 when I started with first purchase through local bitcoins and made ownership with it.
There were still regrets because I sold almost all of them in just 6-7 months after booking some profits. Then in 2017 I regretted the most of my life right there since bitcoin had that magical pump and I could have been half millionaire already. I think there are almost everyone who has gone through such drama.
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🍬 Get 400 free spins in Sweet Rush Megaways!
Hoping to see such promotions for the Book of Dead slot. One of favorite slot of mine and I am just waiting for WINZ to get me free spins on that slot. I wish there could have been feature in which one was able to switch the slots for the given free spins. May be something like, you can put the given code for your choice of slot and then activate it. But I get it, it is part of promotion for every slot and that could mess up the on going marketing agenda. Since it's just chosen slot every week we may not be able to do that. So just keeping an eye on the thread so that I may see Book of Dead slot getting cool free spins. Not sure if it will make me win something, but will do try it out. Hello Winz, I just wanted to let you know that I have a very positive experience playing on your website. Quick payouts without KYC, good and friendly livechat, good betting options and odds, and nice layout and quick navigation. So I left a positive review here cause you deserve it: https://bitcointalk.org/index.php?topic=717790.msg61852061#newKeep up the good work! this sounds good without having to submit KYC to withdraw let alone a little money, KYC should be implemented only for users who withdraw big money, but the important point for gamblers to be active on the casino site the most important thing is the fast response from the chat room on the support service would certainly be a plus , sometimes it sucks to see casinos that have a slow response on their support services . but I admit it's also a good casino Winz Even if KYC is implemented then it should not be a problem. Sometime having KYC verified accounts can get you extra layer of security to the funds. In negative incidences you can always claim your account and funds back to you by cross verifying your kyc. It's a simple logic. |
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If you could design Bitcoin from scratch today, how would you design it? What changes would you make?
Obviously Bitcoin is anchored into previous decisions by the effort to keep it immutably perfect hard money. So keeping that in mind, designing it to be immutable from today forward, building it from scratch today, what design changes would you make today?
I could have added one important program related to offline synching of bitcoin and thus adding the transaction information later whenever the device is connected to the network. This functionality feels so important because there are regions or there are instances when we dont have the network. Let us say I am roaming around the globe and there is just a country where my SIM is not supported and I wanted to pay in the bitcoin payment then I could just grab my device and do a quick QR scan and send type of payment. Since I have done this offline, network would not know about the spent bitcoin's until I go back online. But once I do, it can get embedded into next available block and time stamp it as confirmed transaction once it does. The circulating supply of the bitcoin would not get hampered with this because it is getting calculated when miners are minting it and releasing for usage over the blockchain. I might not be technically correct here but this is best feature and I still wish it can be added to it. |
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With this Russia Ukraine war which the effect is felt in almost all parts of the world directly and indirectly, I want to ask are there beneficiaries to this war and in what ways are they benefiting from it.
In every war there is someone who is getting benefited all the time. For example, US is supplying the war material to Ukraine and its their future investments. When war will be over and country is free, US will start asking for returns from the Ukraine. It could be either in the form of monetary refunds with interest or it could be geo settlements between the two and much more. Similarly there are countries who are standing by Russia, for example India who is already getting benefits of discounted oil and thus building the long term relationships already. Who knows if India and some other country like China goes into war then they could have biggest support from them. That type of trend is going on when war breaks out and that's how countries will start forming alliances with each other. The real payback always comes after the dust is settled. |
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This is funny and why it wont be ?
Whenever I see pollution + bitcoin mining in any article I first laugh very hard and then my brain flashes worlds biggest mining's for oil, diamonds, gold, other essential metals, silica, and what not? We never get questioned about them because they do not make any pollution and the important reasons behind that is, they are under the control of government authorities and they are getting heavily paid for the same.
The list of pollution making industries is just endless. You pick anything from making a plastic toy to premium car, everything has pollution creating process.
They have the fixed pollution control rates for example, there should be XYZ readings in the waste water, ABC pollutant in the emitted air from the factory and so on. However, they were decided safe by the pollution control board but no one does anything about it in reality.
What kind of pollution under control criteria would they set for bitcoin mining farm? Have a scrubber to every ASICs? Have giant carbon filter around the factory?
Is it really that much pollution coming out of the mining farms? Have they able to melt the ICE on poles?
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In the news today, we have Binance.US on target again. U.S. since the boom of crypto exchange from 2017 up trend has targeted the binance. Since US's decisions could be alarming to the existence of Binance and is due to the fact that Binance has almost fifth users from the US alone. Binance originally operates from China and Japan hub. SEC has claimed that they only have US domain and nothing else to showcase to US authorities. For example, there is no physical offices in the USA neither there are any such registered entities for Binance US. With that being pointed out, Binance is under trouble of getting warned by SEC for its practices and off shore business is no guarantee since they are not under their jurisdiction. There are talks that Binance might just segregate this issue by having Bianance.com and Binance.US as different domains and in the former one's US people would be filtered out. However, authorities smell fishy practice here since this way Binance would be able to hide large chunk of the business from them. Since the article is very very long, I am just quoting the initial information. Please visit the source provided for the whole news. Binance exploded onto the crypto scene in 2017 and grew into the world’s biggest digital-currency exchange. It quickly ran into a problem. It largely operated from hubs in China and then Japan, yet a fifth of its customers were in the U.S., where authorities signaled a coming crackdown on unregulated offshore crypto players. Any lawsuit from U.S. regulators would be like “nuclear fall out” for Binance’s business and its officers, a Binance executive warned colleagues in a 2019 private chat. Worried about the threat of prosecution, Binance set out on a plan to neutralize U.S. authorities, according to messages and documents from 2018 to 2020 reviewed by The Wall Street Journal as well as interviews with former employees. The strategy centered on building a bare-bones American platform, Binance.US, that would license Binance’s technology and brand but otherwise appear to be wholly independent of Binance.com. It would shield from U.S. regulators’ scrutiny the larger Binance.com exchange, which would exclude U.S. users. But Binance and Binance.US have been much more intertwined than the companies have disclosed, mixing staff and finances and sharing an affiliated entity that bought and sold cryptocurrencies, according to the interviews and the messages and documents reviewed by the Journal. Binance developers in China maintained the software code supporting Binance.US users’ digital wallets, potentially giving Binance access to U.S. customer data. If U.S. regulators conclude that these links mean Binance has control over a U.S. company, they could claim the power to police Binance’s entire business, which, to many investors, has been a black box since the start. This would also put Binance’s billionaire founder and chief executive, Changpeng Zhao, and his finances under closer scrutiny. Recently, a Texas financial regulator said in a court filing that Binance.US didn’t get a license to operate in the state because it wouldn’t provide financial information from its largest shareholder, Mr. Zhao. The Securities and Exchange Commission and the Justice Department have been probing the relationship of Binance, which lists no headquarters, to Binance.US at least since 2020, according to subpoenas and people familiar with the matter. The Justice Department and the SEC declined to comment. On Thursday, a bipartisan group of senators asked Binance to answer a series of questions, alleging it had “hidden basic financial information from its customers and the public.” Binance has also been in the crosshairs of some other countries, where it has been accused of operating without a license. Binance is by far the largest cryptocurrency platform standing after the collapse last year of others such as FTX left the digital-currency world reeling. The swift collapse of FTX changed the calculus for U.S. regulators, who now are engaged in an intensive effort to rein in the $1 trillion crypto sector. Binance’s ability to navigate the industry turmoil and deal with regulators in the U.S. is a test case for the future of crypto. Ninj0r [a Binance software developer]: Why did trading start?  It’s not time yet!!! Who started trading? We had the trading timers set? Who started trading? Other messages followed, including another urgent one from Ninj0r: someone started TRADING EARLY. Who did it? At 8:56:09.822 someone manually started trading. Who? Why? Eventually, the company founder and chief executive answered. Changpeng Zhao: a guy here in Shanghai, mistake operation. Developers in Shanghai maintained key software functions at Binance.US at least through the summer of 2021, the Journal has reported. The Shanghai developers’ contracts were with Binance, not with the U.S. platform, according to a person familiar with the agreements. The spokeswomen for Binance and Binance.US said the companies’ relationship is governed by licensing agreements, including for Binance’s technology. The Binance.US spokeswoman said that U.S. customer data is stored in the U.S. and that it and Binance never commingled user data. The SEC has also been examining the relationship between Binance.US and two trading firms with ties to Mr. Zhao, Merit Peak Ltd. and Sigma Chain AG, the Journal has reported.
The exchange was intertwined with an American firm portrayed as independent. Now, regulators are circling. |
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Yup, that's the strategy behind it. However, I am keeping most of the funds on ledger only. I am shifting my coins to ledger now and then. I have addresses created as per the purpose and I keep updating them all the time if I am trading with someone or for something out there. My strategy is to keep funds segregated as per the use of it. For example, I would barely expose my parent address or ledger address to anyone out there. All of the money that I am receiving will be on the quickly generated bitcoin address. After sometime Or whenever I get the time I will shift those coins to my ledger wallet address. If I am very suspicious about the transaction I would just make the coins go through the Mixer first. Just in case to avoid any confusion with my brain and heart in the later times. |
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