Unemployment at least 50% in usa at least so how THE wprld world will look like ?
Definately all prices will 80-90%down
Are you serious? 50% is a very big number and I am sure Us will be nowhere near that number last I heard the number was around 20% and that also at leak Covid time since then the number has only recovered. So I am sure 50% is a just s random guess but yes even 20% is pretty high if you consider it for a second. I am sure there is going to be a big recession coming in I'd the number is somewhere around 20% mark. |
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Bitcoin & other decentralized cryptos heavily rely on the independence of Nations to remain decentralized. There are constant attempts by fascists or so called globalists to weaken the ability of nations to remain independent in order for them to have some sort of strong central control over all nations & the whole world at large, but this can not be easily achieved without the weakening of bigger nations that pose bigger threats to this goal. Countries like Russia, USA (under Trump)... & possibly China are part of the bigger Nations(leaders) they seek to weaken. Decentralized Cryptocurrencies heavily relies on the independence of such nations to keep the miners, nodes, and even developers decentralized. If the fascist had succeeded it would be easy for them to implement a worldwide rules against miners, nodes, developers without much challenge.
A borderless One World Government is not a good idea for Decentralized Bitcoin. We need independent nations, independent governments, boundaries, etc for the good of Bitcoin and True Cryptocurrencies.
*Note that If a society I call my country is used by the "globalists" to work against a nation that's against the globalist order, I will support the nation against my country. What matters is to reject evil no matter who or what country is used to spread it. If you blindly support your own in the name of brotherhood you are part of the problem.
The problem here is that independent nations aren't really independent in the real sense. All of them do think of welfare of people but despite that are heavily reliant on revenues and therefore become selfish when it comes to Cryptocurrencies or other CBDC, which means they are not interested in giving these currencies a free hand to trade. They want currencies of their respective countries to be at the top so they can earn most of the revenues. |
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A cashless policy is an economy that runs operates on zero cash. Not as if there will be no cash in circulation, but it will be done digitally and can be fully traceable. Now, with countries experiencing inflation, the best way to curb this inflation is by using this method of going cashless as there will be no much paper money in existence. But then, when these government bodies introduce these policies, they carefully scrap out the demerits of these proposals if I may call it that, because why worry about these "little disadvantages" when there is a world of good adopting such a policy could do for a country. I took out time to do a little research on this cashless economy plan, and found that though there are positives, there are also some red flags that are worth pointing out. Pros: 1. Reduces crime rates as there is no tangible money to steal. 2. Decrease in money laundering 3. Less time and costs associated with handling, storing and depositing paper money. 4. Easier currency exchange. Cons: 1. Banks have full control of every single penny you own . 2. Every transaction you make is recorded. 3. Access to your own money can be blocked at the click of a button. 4. The government will decide what you can and cannot purchase 5. If your transaction are deemed in anyway questionable by those who create the questions, your money will be frozen "for your own good". 6. Potential data breach may expose personal information 7. Temptation to overexpand may increase. If the world must go cashless, Bitcoin should be the better option, but as the government will always want to be in charge of your funds, CBDC is always projected by the government. https://www.google.com/url?q=https://www.managementstudyguide.com/cashless-economy-pros-and-cons.htm&sa=U&ved=2ahUKEwjNtYToxIT4AhXMyIUKHdrhC7MQFXoECAUQBg&usg=AOvVaw2132ZR98zH061TKrcKtzvuFirst of all inflation does not decrease or gets controlled in the cashless economy infact it is increased. Cashless economy fosters usage of credit cards etc. And credit cards means that everyone is creating credit in the economy thereby increasing money flow in the economy. Only an economy working on an altogether separate currency which is modelled to be deflationary can be helpful in this scenario just stopping usage of cash can't help. But the biggest issue with the cashless economy that I have as you mentioned is Government can stop you from using the money just by click of one button. This is too big of a power given to any state. |
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In the match between England and India, many thought that England would win tomorrow. Many bet on England. But the performance that India showed yesterday was really heartbreaking Hardik Pandey, Suraiya Yadav and Deepak Huda really touched the hearts of the spectators. India won the match by 50 runs. The next match, of course, will be England's preparation for a good game I think I will be able to enjoy the second T20 match beautifully.
Seriously I was very hopeful that it's an easy win for England but first Indian batting was too good having scored mammoth 198 which in itself is a very tedious task to do and then bowling so well to save the 198, especially Pandya was just commendable alone. The whole English batting collapsed like anything, Buttler, Livingstone, Malan all of them really struggled. |
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Whales simply use it as a playground. Even if there is a crash, you cannot rely on price movements. When there are liquidations for longs and shorts, the market takes a big swing to screw as many people as possible.
Obviously true. Cryptocurrency market is a hotspot due to multiple reasons, it is unregulated absolutely so there is no risk of regulators catching you doing unfair things, market is highly volatile which means rewards are higher for you. Investor education is bare minimum people buy the fake pumps easily to it's pretty easy to liquidate retail bulls. All on all it's a great hunting ground for whales to eat the fishes from the sea. |
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In terms of growth, if Japan continues to be a deflationary sland of it's own obviously it is going to lag behind many big economies in GDP growth sooner or later. To increase the pace of it's GDP growth it has to enter an inflationary scenario but that could be harmful for them considering the amount of loans that they are carrying also your country isn't a lucrative place for foreign investors as well if you are having a deflationary currency for a very long time.
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2nd question btw. Any idea how many people are buying/selling bitcoin and have not paid taxes? I've heard it's a lot but idk what percentage of the population. Like a lot of people I know who are into bitcoin didn't even know you had to pay taxes on trades. I, like them, thought it was only when you cashed out. I heard the IRS sent a crap ton of people letter reminding them of taxes.
Also, do exchanges like coinbase automatically hand over all your info to the IRS or do they only do it upon request? Like the IRS has to call them to ask for yours in particular?
What about exchanges like foreign exchanges like kraken or kucoin? I hear they are less likely to cooperate with the US gov? Idk. anyone have much info on that?
I don't think there is anything like direct reporting to IRS that these exchanges like coinbase or BinanceUS have to do. It's only upon request that these exchanges provide details to these agencies. Scenario is different in some other countries say for example India, where now TDS or withholding tax is in place on selling cryptos, so exchanges have to mandatorily report these transactions to the government always and not only on the request of these exchanges. Foreign exchanges are obviously somewhat less cooperative but eventually, they too have to cooperate if they want to do business in a particular country because IRS violations are taken pretty seriously by any government because it's impacting the national revenues. |
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It is no longer news that the rich are getting richer and the poor are getting poorer. And it is not just happening in LMIC countries but even in developed nations. The wealth and income gap has increased. There's really no middle class anymore. According to this report by the the World Inequality Lab,Contemporary income and wealth inequalities are very large
An average adult individual earns PPP €16,700 (PPP USD23,380) per year in 2021, and the average adult owns €72,900 (USD102,600)1.1 These averages mask wide disparities both between and within countries. The richest 10% of the global population currently takes 52% of global income, whereas the poorest half of the population earns 8.5% of it. On average, an individual from the top 10% of the global income distribution earns €87,200 (USD122,100) per year, whereas an individual from the poorest half of the global income distribution makes €2,800 (USD3,920) per year (Figure 1).
Global wealth inequalities are even more pronounced than income inequalities. The poorest half of the global population barely owns any wealth at all, possessing just 2% of the total. In contrast, the richest 10% of the global population own 76% of all wealth. On average, the poorest half of the population owns PPP €2,900 per adult, i.e. USD4,100 and the top 10% own €550,900 (or USD771,300) on average. In the country where I reside the prices of everything are skyrocketing but the income remains the same year to year. Is it still possible that in 2022 Bitcoin can help reduce this wealth and income inequality? Bearing in mind that most people were not early adopters. No, it can't bitcoin is just a new medium of transaction. Bitcoin isn't some charity scheme in which it will distribute free money to all the wallet holders, you still will have to earn bitcoin by doing some of the other hard work. It might open a new area of opportunities but so did 3D printing created opportunities and so did the invention of computers. So it's not that bitcoin is doing something different. But yes one thing I agree with you is that there is a lot of income disparity between the rich and poor in the world these days. Riches are getting richer and the poor people are getting poorer each day. |
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England V India
The first T20 match between India and England will be played today. I look forward to enjoying the match. Of course, the match will be competitive. However, the players who performed in the test match will not be present in this match. So we will not see Rishab Pants, Jadeja, Kohli, Root and Bairstow in this match. Even then, both teams have plenty of talented players in their squads. Since England's home match. My guess is England will be able to win.
During the T20 series against England, India will face a tough opponent. It's a tough matchup between an aggressive England team and an Indian team that's uncertain about their starting lineup or game plan. An impressive win for England tonight, followed by a warning about a series whitewash for India. On every metric, England's bowlers have performed better than those of both New Zealand and India in test matches. It's a great time for the England team. In this format India is very good team even England is going with home advantage and with the change of captaincy surely they are going to be big test for Buttler because he is an aggressive player and now with the burden of captaincy can he has done as usual. Indian done average job in last few matches after losing first two T-20 against South Africa at home but still now with the comeback of regular captain Rohit Sharma it's going to be interesting. Arshdeep Singh is going to be had his T-20 in this match big challenge waiting for him can he do something good and keep his place in regular team because now competition is tough, and every player need to do his best for staying at his place for long time. Even though I am completely sure that England will thrash India in this T20 series yet I really want to see performances of our players because this is more of a selection series for the upcoming world cup. India started well but have lost Rohit Sharma due to brilliant strategy of adding spin in the start of the game to slow down the batsmen. You want atleast 160-170 on this pitch to make a good game. |
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World largest crypto currency exchange, Binance celebrate their 5 years anniversary and with this comes the announcement to remove trading fees in it's worldwide platform. This initiative was promoted by a strategy devised by its US subsidiary, Binance.US. who smashed fees for Bitcoin spot traders with an aim to foster growth, increase its popularity and also boost competition. The move taken by Binance.US has sorely affected the stocks of rivals, Coinbase and this will take effect from 8th of July 2022. Reports have it that Coinbase stock fall by 10% as announcement on Wednesday by rival crypto currency exchange company, Binance was released same day as well, of their intentions to make sure users be able to spot trade across 13 stable coins and fiat combination including BTC/ usdt, BTC usdc and BTC/ BUSD. This news should elate traders as they can be able to enjoy the fee cut benefit with US dollars. https://www.google.com/url?q=https://www.coindesk.com/business/2022/07/06/binance-extends-zero-fee-bitcoin-trading-globally/&sa=U&ved=2ahUKEwiKnKbG9-b4AhUqQEEAHUTGDOcQFXoECAEQAg&usg=AOvVaw2uvS5um43s7TIK2-IVMlHlI think these days the listing fees, withdrawal fees and primarily the funding fees from leveraged position is enough for any exchange to operate smoothly so taking the hit of the overall trading fees in spot exchanges to foster your popularity isn't a bad idea that also when there are exchanges becoming your good competitors. This in longer run will make people habitual of trading and infact will bring people to leverage trading, so it's more of a cross selling strategy. |
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Nice move, this way now Visa will also have to handle a lot of Cryptocurrencies and hedge itself against the risk of it's movement, the more companies begin to create hedges in this market the less volatile this market would eventually get. On the consumer front as well, if i am getting instant conversion of my bitcoin at a market price while doing real time transaction it's obviously a win win situation. So it's really a good move by VISA.
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This is actually true. Not because that bitcoin is very strong and is never going to die but actually because all these headlines are just planted carefully by big institutions during the bear run in order to shake the money out of the weak hands directly into their pockets. Not only they create FUD they will even shake the price along with that FUD. If you study Wyckoff distribution you will realise how true this is. So he is really right in suggesting to buy whenever the market has FUD.
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India right now is favorite to win this test as they have lead of 189 runs and still 8 wickets in hands. We have 2 days of play still left. If India can take lead till second session of 4th days play and allow England to play 4 sessions then India clearly have a chance.
I agree with you as India are 209 runs ahead with more than 2 days still to go. The only thing which can save England is the rain and bad weather. Looking forward for the thunderstorms  With current situation India is having strong position even we lost good time just because of rain but in this match under captaincy of Bumrah I am feeling good for them because their aggression is key for their success and still they can do good with having 250+ lead on board and Pant and Pujara both on crease. Now tomorrow first session is key for both teams because if these both able to stay here for more time than surely it's going to be good for them and if English bowlers can take early breakthrough then it's going to have better chance for England because they still can chase score nearly 350 to 370 here on this pitch with the help of Root, Stokes and Bairstow. If it would not have been for rain India would have easily won this match till tomorrow itself. Even from here if India can bat 2 sessions tomorrow to take the lead upto 400 runs it shouldn't be a very difficult task to eliminate the English batting in the remaining 4 sessions but obviously rain can be a game changer. For England wickets is the key the less target you give to yourself for last day the more chances of win you have. |
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The pointers that you have mentioned Clearly indicate that it is not a democracy at all, the most important point in democracy is that Judiciary is an entirely independent pillar from the government and government or any executive cannot veto what the judiciary has decided for once. Best they can do is to change the law for future instances if they want to but that too shouldn't alter the very essence of the constitution. So constitution should always be supreme and not easily alterable for major laws.
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i dont understand why bitcoin has to be just base on people perceive value of it. and for someone to just artrarily fix the supply of them at 21 million doesn't make any sense. it should be able to contract and expand the # of bitcoins in existence. but because bitcoin is design very simplistically it is kind of like monopoly money. not backed up by anything. It's a common myth. Bitcoin’s price is not directly caused by subjective perceptions: It is a result of the market, based on supply and demand. Perceptions are one factor in the “demand” side of that. There are other factors to demand; and perceptions do not alter supply.
Ultimately, Bitcoin’s fundamental value derives from its facilitation of productive economic activity, which would be costlier, infeasible, or impossible without Bitcoin. I know that I have done productive non-Bitcoin, non-market business with Bitcoin, which I could not have done without Bitcoin. That’s not extraordinary: It is being an ordinary Bitcoiner who uses Bitcoin as money, rather than a purely speculative buyer who just wants “number go up”. The more such people they are, the higher the organic, non-speculative demand for BTC.
i'm not saying bitcoin doesn't do that. but bitcoin has weaknesses. you can't deny that. the main weakness being that it is not backed up by something like gold. gold could then be used to measure the value of bitcoin. and gold has real world use. people wear it. it gets used in all kinds of electronics. bitcoin doesn't get used anywhere for any purpose. it's just imaginary. This discussion of economics is far off-topic for the development forum. I feel obliged to answer something that is more usually nocoiner FUD or newbie confusion. If you have further questions about this, I refer you to Bitcoin Discussion or Economics.
ok well, the topic belongs somewhere. Okay if we are talking about backings of various currencies or assets which currency do you think has a backing? All the fiats around the world have no backing except for the promise that the government is giving you and in situation such as wars etc. This promise is worth nothing at all. Talking about other asset such as gold as well all the demand it has is merely created by the hype or demand that everyone has for it and nothing else. Even if we talk about companies as well their backing is the revenues or earnings they do which too they are doing in fiat only so technically it's more or less the same. So which asset do you think really has any value? |
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There have been talks among experts of a global economic recession taking place soon. The COVID-19 pandemic, the persisting Russia-Ukraine crisis, and several other factors will lead us there faster than you could imagine. Considering that the US Dollar is the world's reserve currency, anything that affects its value (inflation) will have a chain effect over other countries' economies as well. Now this could have profound effects over Bitcoin's price within the short term, as the crypto market "mimics" equity/stocks market's behavior. It's most probably Bitcoin will decline well below $10k, as the global economy comes to a halt. Or things could head in the other direction, leading Bitcoin towards new All-time-highs. The pioneer cryptocurrency has often been hailed as a "safe haven", so it should be able to serve as an alternative to Fiat during times of crisis. What are your thoughts?  It can affect bitcoin in both the ways. I feel if there is a recession in the equity markets generally the crypto market gets boosted as this signifies distrust among people on equity markets. However on the other hand many times it has happened especially in Covid times that Bitcoin's fall is exactly linear to the fall of equity markets like it happened in March 2020, equity markets around the world were at all time low and so was bitcoin. So either of the two things can happen in Bitcoin. |
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WASHINGTON (Reuters) -Cleveland Federal Reserve Bank President Loretta Mester said it will take two years for inflation to fall to the central bank's 2% target, adding that it will be "moving down" gradually from the current level.
A surge in inflation, which is at its highest level in 40 years, has made hawks of nearly all Fed policymakers, only one of whom dissented earlier this week against what was the central bank's biggest rate increase in more than a quarter of a century.
"It isn't going to be immediate that we see 2% inflation. It will take a couple of years, but it will be moving down," Mester said in an interview with CBS News on Sunday.
Mester said she was not predicting a recession despite slowing growth.
"We do have growth slowing to a little bit below trend growth and we do have the unemployment rate moving up a little bit. And that is OK, we want to see some slowing in demand to get it in line with supply," Mester added, referring to forecasts submitted in the past week by participants of the Federal Open Market Committee's meeting.
Policymakers currently expect to raise the Fed's benchmark overnight interest rate, now in a range of 1.50%-1.75%, to at least 3.4% in the next six months. A year ago, the majority thought the rate would need to stay near zero until 2023.
On Friday, the Fed called its fight against inflation "unconditional." Source: https://www.investing.com/news/economy/feds-mester-says-it-will-take-2-years-until-inflation-falls-to-2-target-2838671- Do you think that the Federal Reserve has enough power to control inflation within 2% over the next two years?
- Do you think Fed can do that without causing a recession that may last for several years?
Inflation that is happening now is linked to several factors that the United States may not be able to move well, so Fed should be careful about monetary policy, analyzes indicate an interest rate of at least 3.4% in the next six months, which means more rate hikes of about 50 basis points each meeting in the coming months. Inflation is not something that changes so suddenly so if there is 7-8% in one year chances are it will decline quite slowly and then comes to a subtle number and stabilizes on to something . Currently we are in situation where the inflation would rise as the money supply is rising continuously and there is no signs of some great economic growth along with that. But Fed can do that only by ensuring there is enough GDP growth so that there are enough people in the economy to absorb inflation. |
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The only way to get people to stop worrying and shying away from Bitcoin, is to banish the volatility aspet of it, naturally.
I put emphasis on the word "naturally" because you cannot force a monetary process to establish itself in a few short years. The price and users must gradually reach an inflection point on their own.
It is similar to implementing the Euro as the official European currency. By no means were the governments rushed to scrap their central bank currencies, they were give ample time (about a decade or two IIRC) to phase it in, in stages.
So Bitcoin, and anything that wants to follow it in market capitalization, must be introduced to the public in phases, which could take a very long time.
The rest of the altcoins that do not stabilize can disappear (e.g. Solana), I have no pity for them as they only serve to give larger cryptocurrencies (and crypto in general) a bad name in the news.
I think if we are talking about it to happen naturally it definitely will after some point in time when there are a lot of users which are able to put pressure from both sides just as it happens in various other mature markets it will definitely stabilise at some time but it will take a lot of time maybe more than a decade before this might happen. Not only because this a very new market but also because market participants have entered in this market to enjoy the volatility only and also the concentration of total supply is pretty skewed in hands of big guns. |
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Some very good coins out there have lost 95% of their value already is it possible to see more down fall? I'm throwing this to those that are present in last bear market, marketcap and volume is over millions of dollars and price is 95% down?  :I downfall still possible? For example Metahero. Yes it is still possible, if i compare the current situation with the last bear run i feel that the alts can still bleed alot from this point as many of them had actually gone 100x initially so now in the bear run they will definitely get screwed a lot. But this will just act as a launchpad for the next bull run as once again they will try to go to 200% during the next bull run for sure. |
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Hello I have about 4 dollars in litecoin in bitget and I wanted to move them to a stable currency as usdc and start doing trading with btc mainly but bitget does not let me..it tells me minimum 5 dollars.....
What options do I have to move those 4 dollars in litecoin to another currency without having to buy?
I did not want to buy at the moment because I want to make sure I follow the correct steps when buying anonymously (I got those 4 dollars as a gift).
The only option I can think of is to take a dollar of those 4 dollars that I have and make a leverage of x10 and try to make some more money trading with that x10....
would that be possible? or could you suggest another way I could turn that litecoin into another coin?
Best bet is to either put 1$ of your own in the exchange so you atleast have 5$ so that you can move it easily. The other way is obviously as you said to earn some bucks but this is highly risky, the way I am seeing this you really love this 4$ as well so trading will bring this to risk for once, you might lose all of it in just one go especially if you are doing this leverage trading so best is to put 1$ from your side and start doing normal spot trading. |
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