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881  Bitcoin / Legal / Re: Crypto Groups Gemini, Genesis, and DCG Sued for $1.1 Billion ‘Fraud’ on: October 22, 2023, 12:53:44 PM
https://www.wired.com/story/crypto-gemini-genesis-dcg-sued-billion-dollar-fraud/
"IN THE STATE of New York, where Sam Bankman-Fried, founder of fallen crypto exchange FTX, is standing trial for fraud, the attorney general has accused a further three high-profile crypto businesses of lying to their customers. Crypto exchange Gemini, run by the Winklevoss twins, Cameron and Tyler, as well as crypto lender Genesis and its parent company, Digital Currency Group, have been charged with causing a combined $1.1 billion in losses for hundreds of thousands of investors."
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Also a very interesting saga in the continuation of the story with the FTX exchange. I am sure that the Gemini management understood what clowns were running the FTX exchange and Alameda, but nevertheless gave them money.
The New York attorney general has the role of protecting the interest of these investors, filling this suit against Gemini and Genesis is lawful. Customers were informed that thier investment was safe and secure and nobody told them about the risk their funds were exposed to. I am sure many people wouldn't have invested if they knew how Gemini intends to use the funds to make a profit. It is annoying to see how people's hard-earned money is being mismanagement by greedy people who lack financial intelligence.

An analysis of the operation of Genesis will expose you to careless and uncollateralized lending that led to its financial woes. The worst part of it was that they were concealing the losses from customers. Maybe they wanted to come up with a shitcoin that will be used to pay these greedy clients. I call them greedy people because 8% interest looks suspicious.
882  Economy / Economics / Re: Bangladesh economy facing headwinds on: October 22, 2023, 11:35:58 AM
I highly recommend following the Bangladesh situation. It will be a "live economic show" about "Chinese friendship, aid and investment". I assume the outcome will be the same as with Sri Lanka. We can even place bets. Bangladesh is very sorry that they fell for this dubious friendship and did not take into account the experience of their neighbors. I have previously described how the situation will develop, and this scheme China uses with all its "friends", and Bangladesh will not be an exception. So, let's take popcorn, sit back and watch....
I don't know much about China's partnership with Bangladesh but I am aware that almost all the countries that became friendly with China in Africa are suffering from severe economic problems. I can not also conclude that China is the sole cause of this problem because other reasons like corruption might have contributed to these financial problems. But Chinese loans are an economic death sentence. The interest rate is outrageous and the terms of loans are kept secret from even the legislature. These loans and the terms of repayment are not in public space for scrutiny. These loans are tied to collateral which even include handing over the sovereignty of the nation to China.

Due to the interest rate and other conditions, many nations such as Ghana and Zambia cannot meet the repayment plan. Kenyan parliament is asking for renegotiation of the loan because of the burden it has placed on the nation. There was turmoil in the Nigerian parliament when the term of a Chinese loan was secretly exposed. It became clear that the presidency and minister of transportation signed a loan that could make Nigeria China's vassal state.
883  Economy / Gambling discussion / Re: Premier League Prediction Thread 2023/2024 on: October 22, 2023, 07:01:06 AM
Chelsea still need more improvement but they are improving even before the match with Arsenal. Their good performance against Arsenal will help them to have more belief in themselves as they can play fairly and equally with one of best competitors for Premier League trophy. Their performance is not perfect as some players still made personal mistakes that cause problems for a whole team.

They need to improve their defense to be able to protect advantages they successfully created. They are improving but at the end, they must earn more points to convert improvements to better results and can improve their standing in Premier League.
I never expected Chelsea to get a draw in this game because of the quality of Arsenal. I expected them to conceive at least three goals without responding. Arsenal have been a strong team since last season and have won most of their recent games against Chelsea.  But we saw a new Chelsea that defended and attacked very well. 

Both teams played very well but their undoing was their goalkeepers. But the most annoying one was Robert Sanchez's who gifted a goal to Declan Rice. That goal gave Arsenal more confidence and hope that they can come back to the game. The Spanish goalkeeper has been very impressive this season but he needs to do more to show that he deserves to be the number one. Many Chelsea players have improved and I am also surprised to see how coach Mauricio Pochettino is bringing out the best from Mykhailo Mudryk.
884  Bitcoin / Bitcoin Discussion / Re: Currency nature of Bitcoin on: October 22, 2023, 06:06:53 AM
The world is still deciding what Bitcoin does as well as how is should be classified, after it's inception twelve years ago . Practically, Bitcoin isn't isolated from the traditional banking system because its price is supported by USD bank liquidity making its trade as a speculative asset rather than a currency.
The dollar is the most popular currency and most currencies are valued or supported by the USD. Bitcoin is a speculative asset because its price is not relatively stable in the short run but keeping it for long-term can be profitable.

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Satoshi Natamoto envisioned Bitcoin as an alternative to traditional fiat currencies. If Bitcoin had been trading on its core value proposition - the ability to be your own bank - then Bitcoin would have rallied with rising bank uncertainty
Bitcoin is still a young currency that is gradually gaining global recognition. Harsh government policies have limited its popularity and acceptance. The coin will gain its natural currency nature if it becomes more acceptable worldwide.

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After all, Bitcoin network suffers from scalability issues and high transaction fees, leading many to believe that Bitcoin is more of a store of value than an alternative form of cash. With Bitcoin and other cryptocurrency, we're faced with a more futuristic form of money
The belief that bitcoin transaction fees is high is debatable because it is not applicable in all situation or different locations. Timing the mempool to know when the transaction fee is low and using the lighting network will be some good options.
885  Economy / Gambling discussion / Re: A Nigeria socialite went all in on this sport bet on: October 21, 2023, 07:07:47 PM
Early hours of today,  one of the Nigeria billionaire business man E money shared his bet slip online for fans to see how much he splashed on the game between Chelsea vs Asernal which already on and Cheslea leading with 1:0, this brought me to the point of asking what your opinion on celebrities staking higher amount and still be ok to publicly show it and do not feel any thing even if the ticket cut just like what happened to Drake last few weeks back.
I see this as a pure marketing strategy to attract more gamblers to the gambling house where he placed the bet. Drake is an ambassador of Stake, maybe this Nigerian rich socialite might be connected to bet9ja. I am not in support of this kind of advertisement because it can fuel over-gambling. There is no need to encourage people to bet higher than what they can afford by showcasing a celebrity's high bet.

For E-Money, I personally do not think he is trying to market bet9ja, since I've never heard he has any ambassadorial deal with the company, so this is probably nothing more than him entertaining his followers, i could as well place a bet of 500 Nigerian naira and share the bet slip online to my fallowers to entertain them, it's exactly the same thing.
It is not every deal that is made public. Business owners can do anything to make more profit. He might not be an ambassador, but he might have invested in the gambling firm. Maybe soon we might know his connection with bet9ja.
886  Other / Beginners & Help / Re: If you were to unlearn something about BTC…. on: October 21, 2023, 06:15:27 PM
Have you ever felt having a good knowledge about a certain subject matter on Bitcoin only to start a conversion or thread on the topic and end up discovering the information had lots of mistakes and misconception. How did you really feel about those subject matters and what was your approach towards the observation and correction made by other users on your thread.
The bitcoin ecosystem is ever-dynamic. There are discoveries and developments every day. When researching a topic access mainly current material. There have been times when members use outdated information to create a thread. There is nothing bad if you are corrected when the information is not correct. After all, we are all here to learn. And in the process of learning there will be mistakes and corrections.

While the concept of Bitcoin in general is broad and wide having a good knowledge of certain topic will require constant research and studying some of the concepts will even require experience and user interactivity. Example is the technical aspect of Bitcoin. I will like to discuss this how long do you spend doing research for a particular topic before making your post or do you have a glimpse of the subject matter get a good summary of it and then start a conversation or quality research is done followed by reviews before engaging in  a conversation?
It would be wrong to start a discussion with false or outdated information. Members will be attracted to your thread if it is educative. You will only receive corrections and in some cases criticism when you put out a low-quality post filled with wrong facts.

No one should be starting a conversation on a subject they do not have a good grasp of. There is so much misconception and wrong information being spread that we should be hesitant to share any knowledge we are not fully certain of.
However one can start a discussion by asking a question or to seek clarification on a concept. But it is wrong when members want to teach what they have limited knowledge about.
887  Economy / Gambling discussion / Re: Premier League Prediction Thread 2023/2024 on: October 21, 2023, 05:40:09 PM
To be sincere, Chelsea surprised me this evening because I wasn't aware that Chelsea would score Arsenal in even 30 minutes, talkless of 14 minutes. Chelsea got a lucky opportunity to score 1:0 due to a penalty cause by defender Saliba
 
Never the less, this is just the beginning of the match. May Chelsea fans relax. I still hope that Arsenal equalizes the goal and we can win against Chelsea.
Both teams have played the first 45 minutes and Chelsea has been a surprise to many people including me. They are playing without a main striker and it seems to be yielding the expected results. Chelsea has been the better team but Arsenal came out stronger in the last thirteen minutes. The next 45 minutes will determine how well Chelsea have recovered from their early slow start. Arsenal needs to rejig the midfield with a new player, maybe Jorginho should make way for Partey.

Also we can congratulate the fans of Newcastle and Manchester City with the victory. Now Manchester City is in 1st place, and Newcastle is in 5th place, but given the not the best start for Newcastle this season, we can say that the 5th place is not so bad for Newcastle. 
Manchester City were fortunate to win the game against Brighton. They got the first two goal but Brighton responded with one goal fifteen minutes to the end of the game. But City had to defend with all he had to get this important three points. They had lost two games consistently, so this win is priceless to the Cityzens.
888  Bitcoin / Legal / Re: Error or scam with Bitcoin ETF news? on: October 21, 2023, 05:12:29 PM
I did not read news from Cointelegraph like 3 or 4 years. That website is full of shit and their articles are very low quality. It is very first websites I knew and very often visited to read news but it's my past practice.

I hope with this fake news, some more people will recognize the quality of Cointelegraph and say goodbye with it. They can read news on Coindesk or just become a member of Bitcointalk to read news and some insightful discussions.

If they are unable to assess what is fake news, Bitcointalk members can help them.
This is a careless and reckless journalism.  For a well-known news outlet like Cointelegraph to give such out such a piece of sensitive information it turns out to be fake. This has shown that they have been giving out fake news to the public for a long time. I always read news from the site but this is a sign that they are not reliable.

It is truly unfortunate that there are those who have been reported to have lost large sums of money as a result of the spread of false news, as it was announced that one of the whales lost $49,000 worth of money after he bought 20.5 bitcoins at a price of $613,201 and then quickly sold it less than 10 minutes later for barely $563,970. Of course, there are many who lost varying amounts of money, and we do not know who they are.
The magazine that caused these losses did not even bother to apologize to these people since it has no criminal responsibility.
https://twitter.com/lookonchain/status/1713920641521660232?s=20
https://coingape.com/whales-quick-bitcoin-buy-on-fake-etf-news-ends-in-loss/
SEC's message was brief but very informative.  If you want to get any information from any institution, the agency's website, verified social media handle or a signed document from them would be the valid source. Social media is the worst place to get information to base your decision on.
889  Bitcoin / Bitcoin Discussion / Re: Flash Bitcoins r not a threat? on: October 21, 2023, 04:41:55 PM

Any information is appreciated.

Thanks Wink
I have never experienced a flash Bitcoin nor have anyone I know experienced it. Maybe you are referring to double spending by fraudulent people where an unconfirmed transaction can be replaced with a new one. I know that immediately Bitcoin transaction is confirmed by the network nodes, it cannot be reversed. To avoid such problems it is important to wait until the transaction is verified by at least two miners before you release your coin or money. Don't rush to conclude the deal without checking in the Mempool if the transaction has been verified.
890  Other / Beginners & Help / Re: What do you Think is the Right Advice to Give to this Young Chap? on: October 19, 2023, 08:28:32 PM
Please, guys, what is the best way to respond to this question? Do you advise I tell him to take up a second job and work very hard to save up and invest in bitcoin instead of selling the precious metal that has been in his family for years because it is good to hold both gold and bitcoin? Do you advise I tell him to continue the family tradition and also pass down the gold to his children, just as his father and father's father did before him? Or that it is okay to sell off the gold and invest in bitcoin because after the halving, he would be able to buy twice as much gold as he has now? What do you think is the right advice to give to this young chap?

For family, the gold bar is not just an investment but a generational asset. Some items should never be sold regardless of how much returns they will bring. I would advise him not to sell the gold bar to buy Bitcoin because that precious stone is also a good investment.  There is no need to rush to invest in the sector because he needs to learn many things. If he is not well informed about Bitcoin, he might end up losing his investment. The best option is for him to start small and build his holding using DCA over the years.

Getting a second job, saving, and investing some percentage of his income in Bitcoin will be better than selling a generational asset. Another reason not to sell the gold bar is because the gold market is more stable than the bitcoin market. The price of Bitcoin is unpredictable so there is no assurance that he will make gain from his profit next year. We know bitcoin halving is next year but we cannot accurately predict how high the price of bitcoin will go.
891  Economy / Gambling discussion / Re: La Liga (Spanish League) Prediction Thread 2023/24 on: October 19, 2023, 03:30:43 PM
Barcelona has serious matches ahead of it. For example, they will play in Champions League matches and Lewandowski is a very important star player for these matches. It is acceptable to leave him on the bench or not take him into the game to help him recover from his injury. They need him in other important matches. Also, a great player like Joao Felix can close that gap.
Barcelona are ranked 3rd and currently unbeaten this season. They're capable of reaching crucial phases in UCL competition and also anticipating actively in La Liga race for the title. Xavi Hernandez is not frightened by the tough fixtures coming, he's an experienced coach and possess the required mentality to win tough games. Barcelona can face these upcoming games without the presence of Robert Lewandowski. Though his presence is required but he's not present due to injury which he's actually making quick recovery, perhaps they have João Félix who's an outstanding player for the club, followed by João Cancelo and IIkay Gundogan, these new signings have contributed to the team positively this season.
I also do not doubt that Barcelona will at least win a trophy this season. But the injury of Robert Lewandowski is a setback because of his wealth of experience and his influence.  Reputable players like Lewandowski can influence referee decisions. The two Joãos are doing well but they still need to improve for the club to rely on them anytime. The club has a very tight and tough schedule in the coming days they will face Atletico club,  FC Shakhtar Donetsk, and Real Sociedad. Xavi Hernandez is one best tacticians in Europe, I have so much respect for him and Arsenal coach Mikel Arteta. These two young coaches will be the new phase of world-renowned coaches. They have been able to manage young and experienced players to get the desired result.
892  Economy / Gambling discussion / Re: The Casino Industry's Contribution On Your Country By Percentage on: October 19, 2023, 02:44:36 PM
How about in your country does the casino industry contribute to your economy in terms of revenue coming from taxes, job generation, and establishment of companies that revolve around the gambling industry? do you think that your country should expand and encourage new stakeholders in the casino industry to increase revenue and employment?
The most recent research or survey by a reputable organization that I could get is in 2018 by PricewaterhouseCoopers International Limited[ (PwC). And it showed that my country earned a  Gross Gaming Revenue of $58 million in 2018. This revenue can increase if waste and corruption are reduced. Statistics on the percentage of people employed by the gambling sector of my country are sketchy. But through personal observation, I can attest that many citizens especially the youths are employed by mainly sporting bet companies. The gambling sector is one of the biggest contributors to finance and employment in my country.
893  Economy / Gambling discussion / Re: Tips on staying responsible. on: October 19, 2023, 01:54:45 PM
Let's discuss the unique challenges of responsible gambling in the world of cryptocurrencies.

Crypto gambling can be fun, but it's important to keep our financial boundaries intact.

Share your tips and thoughts on staying responsible in this digital realm.

Challenge 1: One profound challenge of some responsible gamblers is chasing losses. When we lose, we sometimes think that we can recover all we have lost which is not always the case.
Tips 1:: Having a gambling budget and following it judiciously. It is one thing to write down how you intend to finance and organize your gambling life, but it is more important to implement it.

Challenge 2: Lack of information about the terms of service: Many gamblers see the ToS as too bulky and ambiguous. This perception scares us from spending time reading and understanding the terms of service.  Many difficulties many gamblers face because they fail to read the operational manual of the gambling platform.
Tips 2: The terms of reference are not as difficult to understand as you think. Time invested in reading this document is not a waste of time because it can save you a lot of stress and waste
894  Economy / Gambling discussion / Re: French Soccer League Predictions and Discussion Thread (Ligue 1) on: October 18, 2023, 02:16:49 PM
What PSG gets this season will really determine the fate of Kylian Mbappe, but unfortunately he will not think about the Ligue 1 title because he has already had it for several seasons, not only when he was at PSG but when he was still at Monaco he already got it.
The Champions League title is the target and it is the same as the target of the club owner, and the question is whether PSG will be able to get it this season? It's hard to predict because PSG will have difficulties when they enter the knockout phase because in the Champions League there are teams that are more solid than them in terms of appearance. We will see developments regarding the status of his contract at PSG, if he extends it then he will stay here but if there is no extension then he will move and Real Madrid will be the main destination, but many things could happen because he could change his mind.
A Champions League title can change the transfer plans of Kylian Mbappe. The club might decide to give him a more lucrative contract that might make him reconsider his position. But I also think that Mbappe is also in search of personal achievement. I feel that one of the reasons why Real Madrid is his first choice is because a player can easily win the Ballon d’Or. It is also possible that he could also win it if he helped PSG to win the prestigious trophy.

But as we all know the Champions League is still in the group stage and the performance of the French outfit is not encouraging. The club have been struggling to establish itself as the true favourite of Group F, having lost a game and won one. But from Mbappe's blatant refusal to sign a new contract, one can just assume that he is no longer interested in playing in the Ligue One, maybe he needs a new challenge somewhere else. Another section of the media believes that he has already entered an unofficial agreement with Real Madrid, so will definitely join them next season.  
895  Economy / Gambling discussion / Re: Credit card gambling fuels gambling addiction on: October 18, 2023, 12:22:54 PM
Using a debit card to gamble also risks losing large amounts of money. People need to insert their debit card to deposit money and they can start playing. And if they lose and lose all their money, they can deposit another amount directly from their debit card. And that's where problem after problem will arise and they will start losing more money on their debit card than they could ever imagine.

Using a credit or debit card will not allow you to make money but you could lose all the money. And if you use a credit card, you will have to pay a very large bill if you continue to deposit money to gamble. And that has happened to many people so they have to be careful when using their money to gamble.
In my country banks hardly issue credit cards because our financial system is still growing. Another reason might be because the National Identity System of my country is not very functional. But gambling with your debit card is like using your funds to stake. But gambling with a credit card is gambling with the money you don't even have. It is like borrowing with interest for gambling. Using both credit and debit cards can fuel gambling addiction but I think credit cards will have more negative consequences. It would have been better if the government restricted the use of credit cards because it can plunge someone into deep debt. 
896  Other / Off-topic / Re: 10 platforms where you can earn money performing tasks on: October 18, 2023, 08:42:01 AM
There are several online platforms where you can earn money by performing various tasks. Please note that the availability and types of tasks may vary based on your location and skills. Here are 10 platforms where you can earn money by performing tasks:
4. Adswage: Adswage is a platform where you can earn money by viewing advertisements. It pays about $1 per ad view. Search them on Google to learn more about how to participate.
I have heard about some of the freelancing platforms OP shared and have even done some tasks in some. But Adswage's payment looks very attractive compared to the task. I know it might not look as simple as it looks and the payments might have some terms of service but I will give it a try because I know many people that will be glad to join the organization. OP thank you for sharing, it was indeed helpful.

There are several online platforms where you can earn money by performing various tasks. Please note that the availability and types of tasks may vary based on your location and skills.

OP, you are so wrong, these aren't just platforms were you earn money by performing tasks.
I wonder how the OP is wrong.  These are platforms where you can earn money by performing a task. It doesn't matter if the companies outsource their task because of the reasons or not the only reason why people visit these websites is to perform tasks and earn some money. Your response sounds discouraging and can affect the confidence of the OP.
897  Economy / Gambling discussion / Re: Official Poster of Olympics 2028 Welcoming 5 New Sports (Including Cricket) on: October 18, 2023, 08:09:17 AM
Having more games in the Olympic Games will make the competition more interesting and competitive. It will also give nations greater opportunity to participate and win medals. Some countries that have never won any medal in the competition will now have greater chances to win if flag football, baseball/softball, squash, and cricket are popular sports in the country. I was surprised that games like baseball, squash, and cricket were not included in past Olympics because they are all very popular games. Flag football is an emerging sport in my country but the others are widely played.
898  Bitcoin / Bitcoin Discussion / Re: I am 19 years old boy living in South korea. Please give me an advice on: October 18, 2023, 07:50:45 AM
Please give me an advice to be a successful Bitcoin investor in the future.

A successful bitcoin investor should have basic knowledge of how the ecosystem works. There are many things you need to know about Bitcoin before investing. So my advice to you is to pause your investment plan and  invest time in learning about bitcoin. You are fortunate to be in a forum that you can get almost all the information you need about bitcoin.

100 dollar is for personal use. I can use it to anything I want. I use father's credit card for my expenses.
Okay, if that is the case, then it may not be a bad idea to buy BTC with some of that money every month. But there are things you must learn about BTC before buying it. Take note that BTC isn't a get rich quick scheme and you have to understand how to store your BTC in the right way so you don't lose it to scammers. Let's say you store your coins in a centralized exchange or in an online device that you use for your online activities, your funds can be stolen, so things like these is what you must learn about BTC before buying it.
Keeping his BTC in the right type of wallet is very important. There are so many centralized wallets that are advertised as decentralized wallets and OP needs to know about open-sourced and closed-sourced wallets. He should focus only on Bitcoin and shouldn't be deceived by the get-rich-quick promises of altcoins.
899  Bitcoin / Bitcoin Discussion / Re: Proof of reserves? Insurance fund? Best I can do is a random number generator! on: October 17, 2023, 12:44:48 PM
I agree with you. Proof of reserves is a good step, but it's not enough to guarantee that a centralized exchange is safe. There are other things to consider, like the people who run the exchange, how they do business, and how much money they have.
How will you know the people who run these centralised exchanges? Before the fall of FTX  Sam Bankman-Fried was seen as a financial titan and a well-celebrated philanthropist. Almost all the media houses were singing his praise and FTX was seen as a successful business as they splashed millions on endorsement deals and marketing. Nobody knew that the company was a walking corpse until it collapsed. The operations of most of these exchanges are secret and their audit statements are fake and fabricated. You cannot dictate how much they own because they can always randomly generate figures without any verifiable proof. The best option will always be to "stay away from centralization"       

900  Economy / Economics / Re: Isreal and Palestine war and losing your wallet phrase and password on: October 17, 2023, 12:29:18 PM
Have you consider that you lose all your coins because the wallet phrase to your coins and PC burn in a war.
It is advisable not to keep your seed phrase on computers because it can be hacked or accessed by criminals. The best option will be to write your seed phrase in indestructible stainless steel that is water, fire and rust proof and keep them in different locations.

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So what will you do if you survive after the war to start back your financial struggling and your crypto investment journey. Or can you get the coins back?
During conflicts, the most important thing will be your life and that of your loved ones. If you are unhurt after a conflict, then you are lucky because many people lost their lives during these trying times. You are the one who worked hard to acquire these coins, you can still regain them since are alive and well. If you didn't keep your seed phrase in any other location apart from the ones that have been destroyed, you might not be able to recover your funds.     
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