It is to be noted that banks don't issue fiat money. Fiat money is only issued and brought into circulation by government and central bank. However, you are right in saying that banks can control the supply of fiat money in the economy but this is not as straight-forward as you said. Banks do control the circulation but using economic tools like interest rate. When economic is under crisis, banks reduce the lending rate making it easier for household and markets to raise loans which increases the supply of money in economy and vice-versa happens when inflation is increasing at pacy rate. Banks increase lending rate and deposit rates in such situation, luring people to save money in banks and raise less loans which reduce the supply of currency in the economy. But that doesn't affect the value of money, it only affect the PP of money.

I am little confused. Who will play the runners-up tournament? Position 10-18 or all those who didn't qualify for championship and played at least a game or all those who got at least a point? Can you clarify

I have translated many projects in Hindi. Although I don't have any ANN (and have no plan to create one in near future), I would like to get listed in the OP since I am open for new work. Here are few of my previous works: https://bitcointalk.org/index.php?topic=2661640.msg27137749#msg27137749

Also, I am currently coordinating Hindi Translation for Bitcoin.org

डिजिटल गोल्ड के दामों में अनुमान के मुताबिक अप्रैल माह में २०% तक की वृद्धि दर्ज की गई। जहाँ एक तरफ कोरोना वायरस के कारण वैश्विक अर्थव्यवस्था लगातार गिरती जा रही है और लगभग हर कंपनी का राजस्व और शेयर के दाम गिरते जा रहे हैं, वहीँ सोने ने एक बार फिर साबित कर दिया की यह इतने समय से मूल्यवान क्यों हैं। जब भी विपत्ति का समय आता है, लोगों का स्वर्ण में विश्वास बढ़ जाता है।



आपको बता दूँ की डिजिटल गोल्ड की आपूर्ति (Supply) करीब 11 हज़ार से बढ़ाकर 17 हज़ार यूनिट कर दी गई है और इतने ही ग्राम सोना अलग रख लिया गया है ताकि डिजिटल गोल्ड की कीमत एक ग्राम सोने के बराबर रहे। यदि आप सोने में निवेश करने की सोच रहे हैं तो डिजिटल गोल्ड सबसे सरल विकल्प है।

I was contacted by teosanru yesterday and he suggested the idea of improved thread on crypto taxation for the financial year 2019-20.

Currently we have this thread on taxation (written by me) and it will answer your query to some extent: https://bitcointalk.org/index.php?topic=5206607.0. But there are better ways to report your crypto income under Income Tax Act and teosanru will post a new thread on the same very soon.

Once he post the new thread, I will make the necessary amendments in the pinned thread.

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That isn't complete information and quite misleading. Please wait for new thread for updated information.

Hey OP,

I appreciate your curiosity as you have asked one of the common question people face when they are trying to understand the economics of bitcoin production.

However, it is not that simple. In short, difficulty of mining keeps changing depending upon the number of miners and the computational power being used by them. This in turn keeps changing the cost of mining which helps keeping mining profitable for at least one miner.

Read first page of this thread and most of your doubts will be solved: https://bitcointalk.org/index.php?topic=5236772.0

Bitcoin Discussion is one of the most visited section by the newbies and unregistered users. Reading the OP's post surely gonna mislead someone new to bitcoin. He has given random ratings (50-85%) to wallets even without explaining the criteria of such ratings. Web Wallets aren't even wallets in my opinion, they are similar to gambling sites where you deposit bitcoin based on sheer trust and can lose funds anytime.

If someone is new to Bitcoin, I would recommend to start looking for your first Bitcoin wallet here: https://bitcoin.org/en/choose-your-wallet until you become experienced enough to differentiate between different types of wallets.

This isn't any official source but still contain quality information unlike OP's post.

In short, Crash Game is a trap.

From player's point-of-view, greed plays a very big role in crash game. It isn't possible for average human to stop after making 4-5x money in short period. Also, it is impossible to make any strategy in crash game. Although, other games like dice or roulette are based on pure luck too but it is possible to bet in such sequential manner that player may get a little control over results with his skills. But for Crash Game, it is big NO. No matter what, it is not possible to design any strategy for crash game.

The success of Bustabit attracted many gambling operators to launch crash game. But looking from the house's point-of-view, crash game is dangerous too (especially for new operators). Unlike other games, crash game is usually played as social game i.e. more than one player plays for same result. So it is possible that house has to pay even as high as 100x on single bet. So house has to maintain extra-large bankroll if it wants to make profit out of crash game.

Applied for Hindi Language. Waiting for your response.

Haha. I bet on that hand too just for the sake of claiming bounty. But someone else went all-in and I had to fold.

Once you click 'Register', you will be asked to enter password.

Hey SportsBet,
I found a bug on the poker table. It is in the chat box.
When I first joined the table, I couldn't type 'L' letter. Then when I changed my table, I couldn't type 'Z' letter. Maybe some problem with Javascript.

Supply of Bitcoin isn't perfectly inelastic. Supply of something is said to be perfectly inelastic when the price of such commodity has no impact on its supply. In real world, nothing is perfectly inelastic. In case of Bitcoin, supply of Bitcoin in the market increases whenever price rises or falls by high margins. Many investors who were reluctant to sell earlier, become willing to sell in such conditions. We consider market supply (not real supply) to evaluate whether a commodity is elastic or not.

Also not to forget that new Bitcoins are still being created, so supply is not fixed (which is another condition for perfectly inelastic market).

So this isn't the reason why Bitcoin can never be negative. The main reason why I think Bitcoin can never fall below zero is due to the computational work involved in its creation. Anything which is created by spending value (electricity) always possess value.

We have to understand that fiat money has no utility, it is just a piece of paper which is used to denote value. In other words, fiat money is the tool used to measure the value of any commodity on Earth. 

So when the economy is facing crisis or the economy is developing at very rapid pace (it can be any of the two cases), then the value of most of the commodities in the economy rise. But people consider the opposite, they think that the value of money is decreasing which is wrong assumption. Value of money remain the same, only the purchasing power (PP) of money decreases. If I have $100 then that 100 dollar bill will retain its $100 value even after 100 years. But I may not able to buy as much goods from that currency note as I can today.

Now talking about purchasing power, PP of any currency cannot become zero. It may fall and fall and everything may become too expensive. But currency will always retain its PP else commodities will become priceless because anything divided by zero gives infinity.

People started confusing intrinsic value of money with market value due to the popularity of Forex Market. Forex has turned money into commodity and we start valuing currencies in terms of other currencies. Else, in the closed economy (i.e. within the boundary of country), the value of currency never fluctuates/remain constant.

So don't worry. If the PP of fiat money falls, the price of Bitcoin will rise but you will never face a situation where the price of Bitcoin will become immeasurable.

The second part of your query has the same answer.

It was good to see that manager took pro-active step and reduced the post requirement by 33%. This has solved my worries by mile and I don't think we need any more discussion.

However, it may not be worthy from the management point of view to restrict posting in only three sections, especially those sections which are full of mega threads and attract most of the spams. But their money, their wish. Who are we to question, just report if anyone finds any participant spamming.

Last week I suggested Steve to add some entry fees on tournament. Freeroll tournaments with big prizes attract cheaters. It isn't difficult to cheat poker games through multiple accounts. Player can use two different internet connections, can play as a team with his friends over video call, can sit out with other accounts, possibilities to cheat are infinite.

Adding entry fees will discourage cheaters. We are playing paid tournaments on SwC Poker every week and around 25-30 users join every game, which is not less. If the motive of SportsBet is to actually attract genuine players from Bitcointalk then paid tourney is the only way I think.

FreeBitcoin succeeded for the obvious reason - first mover advantage. Except that, there is nothing extra-ordinary with FreeBitcoin. It was started merely as a faucet.

1. It is wrong to assume that they didn't do advertisement. Earlier FreeBitcoin had an option of banner advertisement charging fixed rate ($0.10 I guess for thousand views on banner).

2. There are many gambling sites which pay their users even when users are able to reach minimum withdrawal threshold with faucet winnings without depositing anything.

3. Well, that's drawback, not benefit.

4. Affiliate Program used to be great attraction on FreeBitcoin in its early days, especially due to the option of referral commission back. People were paying 80-90% back to their referrals. That was one of the major reason for the success of FreeBitcoin during 2013-16. But not now isn't very relevant.

5. Yeah! That's something unique. But it was introduced only after FreeBitcoin became big name in industry and had huge bankroll.


You will get very less traction if you follow the concept of FreeBitcoin in 2020. Now people are striving for whole new level of gambling experience like nice UI, multiplayer games, offers, bonuses, etc etc. Following and studying FreeBitcoin won't help.

I was pretty sure that Cartesi will achieve something big. Usually I don't read Whitepapers of new projects because most of those aren't providing anything new. But Cartesi caught my eye at first instance. I liked the idea of off-chain computation along with blockchain consensus. It's an operating system for dApps. I have been actively developing dApps from some time but most of the current smart contracts solutions (like Ethereum) have their limitation. After reading Cartesi's whitepaper, I was sure about its success. You may notice that I merited this thread on 1st January much before all the hype. This is first and the only time I merited any new project in three years.

By the way, as a bounty participant your obligation is to generate good exposure for project having potential, not to look for project which have high chance of success and reap big rewards. The mentality of reaping free rewards have ruined the bounty section and that's one of the reason why we are seeing so many fake/low potential projects.

The link you shared shows the price of per kg of unprepared tea. But OP is talking about the prepared cup of tea that are being sold by the stalls on the road side. I'm Indian and we Indians love to stop by roadside and enjoy a cup of tea from our favorite stall (especially during winters). The average price of a cup is ₹10-15 (~ $0.1-0.2) which is roughly equals to the bitcoin network fees.


I don't think most of the tea vendors do business on credit bases but what you are talking do make some sense. I think most of their regular customers are adjoining shop owners and if you can convince him to accept Bitcoin from them then that would surely be something unexpected and brilliant.


That's the only relative thing I see happening from this scenario. Adding BTC Accepted board in front of shop will add to his publicity and many tech freaks would pay him visit just for the sake of spending Bitcoin on the cup of tea.

The idea of inflationary cryptocurrency is completely stupid. If you really wanna promote cryptocurrency as a medium of exchange then stable coins are best (aren't they?). Why would someone accept payment in the currency whose value is sure to fall over time due to continuously increasing supply. Me as a vendor would never like to deal in such currency.

Secondly, the fall in Bitcoin's value doesn't fully-proof that all the investors discarded the idea of 'Bitcoin as a hedge against economic crisis'. In my views, only weak hands left market because since the day Bitcoin fell to $3800, its price is rising continuously. But what's more important is the volume. The average weekly Market Volume has risen by approximately 15% since the mighty fall which clearly shows more money is flowing into Bitcoin these days.

Finally, don't post such promotional articles in the shadow of quality discussion. If you really wanna promote a coin, simply post in the relevant section rather than posting propagandize articles.