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941  Alternate cryptocurrencies / Altcoin Discussion / Re: More Crypto's sets to enter the trillion dollars club on: April 02, 2021, 09:54:48 AM
Who is Teeka Tiwari?

The talk of multiple coins reaching trillion dollar valuations is still a bit fanciful. There are people working on multiple chains but the idea that they can somehow recreate the network effect and success of BTC or even Ethereum is a little difficult to accept. Do you care to explain why is this possible in your opinion?
942  Other / Meta / Re: Introducing NFTs for forum members on: April 01, 2021, 06:47:39 AM
Spent all my BTC and now i have 20 NFTs on world's first state-of-the-art, block-less blockchain. Though its all normies but it seems I did get a Vod-I.

Considering that Vod is the owner of BPIP, I assume he'd like to have his NFT. So, I offer @Vod, His NFT on the blockless blockchain for an incredibly cheap price of 5000 BTC.

On sale is amishmanish-I for a tantalizing price of 090109 which is the day of Bitcoin's release in the DDMMYY format. If you are one of the imbeciles on the MMYYDD format, you can have the amishmanish-II for a supercheap 010909. There will be no auction and all the NFTs are readily available on first-come-first-serve basis. Good Luck.

943  Economy / Economics / Re: A Decentralized Roadmap To Compete With Elon Musk/Tesla: The Open Source Car on: March 31, 2021, 02:08:58 PM
For analogies sake, if tesla has 1 thousand engineers in a centralized format. Could gains be made by decentralizing and opening select portions of their development process to millions of engineers, tinkerers and hackers around the world.
For all product development, it is generally one brilliant mind and a team of people with designated responsibilities. That manpower issue is easily solved in a decentralized setup. That is why Open source manages to work so well.

Yet, when it comes to actually putting things like Engines, batteries, metal, motor windings, permanent magnets and all the other exotic/ expensive material needed for research and development, it is nearly impossible to recreate the allocation of capital and make all kind of tooling and experimental/ testing setup available at one place using only voluntary resources. I believe these things inevitably needs concentration of such resources all under one roof, Skunk works style.
944  Bitcoin / Bitcoin Discussion / Re: BTC was a lifetime chance and I don't think we will see a similar opportunity on: March 31, 2021, 01:44:57 PM
I don't imagine anything else that you'll be able to get for free or pennies and then value million times more. I just can't. No lottery will ever give you that. I admire the early adopters and wish I've been one of them, unfortunately no "friend" told me about it and I only joined in 2013 when I've found about it alone, still not bad but could have been better.
LOL. Found it in 2013 and you still blame the friends?? How many friends did you tell about bitcoin. Not just bitcoin, people who have been in crypto since that long have made money not only from bitcoin but from all the other phenomena that sprung up around it.

Still, people from 2013 are surely better off than people from 2017 like me. It is obviously one of those crazy lucky bastards who forgot about a 100 BTC and re-discovered them when it hit >10K. So many sold along the way that I don't think there are any accidental millionaires. Most of these people probably had the smarts to end up rich anyway. Take the Winklevoss twins for example. Weren't they the ones that Mark stole the idea of facebook from?

I also would enlarge the definition of that "opportunity" to not just bitcoin but to crypto in general.
945  Economy / Economics / Re: How the rich get richer and why it works on: March 31, 2021, 01:39:37 PM
- You can easily create a "choir" or "court of sycophants" that will play your game. They will be cunning, smart, educated and you will make sure that you will pay them well. You can add another 10% of votes, if not more, on that. Their names are "KMPG", "Bearing Point", "Morgan Stanley", "Goldman Sach" and so many others that work day after day for you and do not want to end. Letīs make this a 15% of the quite well-to-do classes.
While it maybe true that the rich control the world, I cannot really agree that elite institutions purposefully exclude any body from rising to the top. Or that they purposefully train people to work in certain ways. We have enough examples of rags-to-riches in every society of the world.

Most of this is random in my opinion. The rich work very hard to preserve and prolong their wealth. A lot of poor people work hard and, indeed regularly break the glass ceiling to rich places where their earlier generations couldn't. This whole idea of a "game rigged against the common man" is little more than our own way of coping to our relative poverties.
946  Economy / Reputation / Re: TecShare - Farewell my friend. on: March 29, 2021, 06:05:30 AM
This is sad and humbling. Stress awareness is important and people really should see that the forum remains a spot for trading and other bitcoin related activity but not for extreme personal fights and grudges.

It is kindda ironic that I came to this thread from another one of the incessantly negative sequence of arguments and rebuttals which actually ended up arguing about TecShare's passing.

I wanted to buy one of TEC's mystery boxes but it never materialized. I am sure they were all well curated and interesting. He was interested in gaming, comics and the whole contemporary culture while arguing passionately about the politics. Now I feel that we would indeed have gotten along much better in real life. Just like a lot of people here.
947  Bitcoin / Bitcoin Discussion / Re: CBM- Central Bank Mining....a cure? on: March 14, 2021, 11:44:07 AM
--snip--
Currently, I don't have to trust the Chinese or Russian miners who validate my transactions, the software keeps them in check. I'm sure if I were given a choice where my tx was validated I wouldn't have those people/countries do it!   

At the end of the day, I would likely trust a central bank way more than some sketchy operation in the arse end of China, but it doesn't matter with BTC where or who does the mining. So what's the harm in letting only Central banks do the work needed to secure the network?

It would remain opensource and controlled by the people....

I can't see any downsides to what I have suggested!?
I share your sentiment about mining not really being as decentralized as some would want it to be. It needs a large investment and the people who afforded it are now big players themselves.

Even then, what you have to understand that those are essentially individuals or privately-owned entities that do not have to justify their actions for political motives. When it comes to governments, it is exclusively about gaining political mileage. They can go to any extent for that and also have the wherewithal to do what they want. Bitcoin as a philosophy tells the common man that "Here is your money, keep it safe and no institution or government, no matter how powerful, will part this from you".

That is empowering and something that we have never had. This is really an answer to all the faults of democracies. Giving common people the freedom to hold money which cannot be hurt by stupid governments. When it comes to governments, or anybody in power, they have almost always fucked up things that require agreements. Conflict resolution isn't really a forte of governments. They dilly-dally over issues for political reasons and use all kind of machinations to ensure that their side wins.

Due to these reasons, it isn't really a good idea to have Bitcoin be controlled by a set of permissioned entities, no matter who they are or how many of them there are. This is also the reason that DPoS and PoS based chains cannot be trusted with foundational value. That is why we must have Bitcoin and the ability to be mined by anyone anywhere, no matter how small.
948  Economy / Micro Earnings / Re: Play to earn btc. on: March 14, 2021, 11:34:56 AM
--snip--
Playing blockchain game has more chance to earn valuable token rather bitcoin games available in the market right now.
You are right. Very few BTC based gaming websites or games are enjoyable enough to justify either the time or the work you put into them. Bitcoin is pretty much money nowadays and just like people never give away free money (or get inundated when the do), so it is difficult to hope making tangible amounts depending on Bitcoin.

Crypto in general though has more than a few opportunities, at least for the time being. There are games like Lost Relics, 9Lives etc. where you can find blockchain items while running through dungeons and sell them at a marketplace. Nothing is free though. You will most definitely need some initial investment as transaction fee etc.
949  Bitcoin / Bitcoin Discussion / Re: CBM- Central Bank Mining....a cure? on: March 14, 2021, 11:02:22 AM
If the Bitcoin ideals gets adopted by governments, it may well be a solution to have all autonomus central banks running Bitcoin miners as the base infrastructure for the world's reserve currency. Normal people could just be running Full Nodes and the development should be community driven plus open-source as it has always been. In a perfect scenario, this would not be a bad solution.

Unfortunately, that is not how governments work or have ever worked. Do you think that governments can actually give power to the people and simply do the job entrusted to them by the taxpayers? At the end of the day, governments are made up of people and public servants who enjoy the perks and privileges of their positions.

Hoping that they would serve the role of benign gatekeepers without trying to grab all that power for themselves is like giving Lady Galadriel the ring. The Elven matriarch knew that she wasn't immune from the allure of the ring's power and refused when offered by Frodo.

Pardon the LOTR references, but you are literally talking about offering the ring to Sauron himself.
950  Economy / Speculation / Re: Bitcoin back to $ 10,000? on: March 14, 2021, 10:53:06 AM
Here is ATL each year from 2012-2020

Year   Price
2012    $4.00
2013    $65.00
2014    $200.00
2015    $185.00
2016    $365.00
2017    $780.00
2018    $3,200.00
2019    $3,400.00
2020    $3,780.00
2021   Huh

I have two predictions...

2021    $7,786.00        <----- average of ATL  since 2014


2021    $14,477.40      <----- average of ATL since 2012
You stole that prediction out of my brain! How did you do that?
I don't think you should take into account the <4K ATL of March 2020. That was the result of an almost black swan event of COVID and wide uncertainty. It seems so far off now but people were actually stocking toilet paper, groceries and talking about using wood burners.

So if you discard that, the new ATL would be much higher. Who cares though. With so much money flowing around, I am sure all the noveau rich from the DeFi world will be itching to get their hands into Bitcoin if and when it starts to cool off.
951  Alternate cryptocurrencies / Altcoin Discussion / Re: checking ICO - example on: March 13, 2021, 05:33:58 PM
it's a random coin Smiley I just want to understand the system so to be able to check next coins in future. I was thinking that contact address is the one where millions are stored after ICO
I think it is worth the hassle AND the right approach to try and look at the blockchain history of contract deployer as well as the contract itself. If nothing else, it will make you adept at recognizing transactions as well as some expertise with the technical aspects.
I am sure that those who have the code wizardry to automate these tasks using API, must do it rather than sift through all the transactions manually.

.... I just want to understand the system so to be able to check next coins in future. I was thinking that contact address is the one where millions are stored after ICO
This is probably how it went down in the case of BELT token sale,
1. The project team cuts a deal with the exchange.
2. Tokens up for sale are sent to PancakeSwap.
3. Qualified investors send BNB or other accepted coins to the address provided by PancakeSwap.
4. PancakeSwap releases BELT using smart contracts to investors.
5. PancakeSwap and BELT team share the funds according to their agreement.
Could you please explain a bit that how did you come to this conclusion? That contract was deployed by this address as per the first transaction for the token contract. The transaction history is filled with "contract creations". Usually it should be just one "Contract creation" and the rest some sort of multi-sends of the token itself. This actually was a little unlike what I have usually seen myself. Any pointers would be well appreciated. Thanks in advance.
952  Alternate cryptocurrencies / Altcoin Discussion / Re: Where's the altcoin bull on: March 13, 2021, 05:16:01 PM
I think you are talking about the phase when BTC starts to cool-off while a few Alts start to pump. The Alts basically rise in relation to BTC and you can then swap Alts for more BTC.

This doesn't seem to be happening this time around. During the past ATH, BTC kept rising in dollar terms and a lot of Alts also did the same while remaining at parity with BTC. We are seeing a new ATH just going into this weekend. There has also been news about SEC investigation into Binance. The scenario is ripe for either a capitulation OR another bullrun if the market sustains the momentum through this bit of bad news.

That means another bull-run for everything in dollar terms. If you are hoping for an Alt-coin bull run against BTC, I don't think that is coming. That happening would actually be an indication of an impending bear market, imo.
953  Alternate cryptocurrencies / Altcoin Discussion / Re: IDO IS THE NEW ICO on: March 13, 2021, 04:42:31 PM
Things are going completely nuts right now in the Alt-space. It started with Uniswap on Ethereum. Now, EVERY chain is launching their own version of Uniswap. The biggest amongst them is pancakeswap which has launched on Binance Smart Chain. Then there is ApeSwap whose signatures some of the above posters are wearing.
All of them have their own governance tokens similar to UNI of Uniswap. Although, to be clear, there really isn't much governance going on. It is just plain insane ROIs and everything riding high in the bull-market.

One thing is sure that these things will continue only till the bull-market continues. To anyone putting money into these, just be sure to get some of that principal back. The rest is just completely degen trading.
954  Economy / Economics / Re: A Platform for Small-Scale Freelancing: Microlancer on: March 13, 2021, 06:37:34 AM
Too many blockchain based freelancing websites are out there. They just don't really work or offer anything unique. My introduction to this forum was while fulfilling the requirements of a website called blocklancer that did an ICO back in 2017 and i bought a few dollars worth of their useless tokens.

The one you talk about seems to be using LN so it maybe worth a look.
955  Local / India / Re: At what INR value you would dump your coins ? on: March 12, 2021, 04:54:34 PM
Feeling nostalgic after re-visiting this old thread. How time flies...
Yeah. Looks like you were here back when Benson and the faadu wala Indians were here too. Most of them have now moved on with their own projects in the Alt-space and making good products and money I suppose.

Only a few OGs still sticking with us sorry lot out here. Thanks for staying put, LOL. Who would believe that Rocket Singh: salesman of the year came out in 2009. 12 damn years already.
956  Bitcoin / Bitcoin Discussion / Re: Will the Lightning Network challenge VISA someday? on: March 12, 2021, 04:47:34 PM
VISA has some of the biggest dedicated data centers engaged in all those rapid transactions over a centralized network. While the thought of having LN takeover Visa is tempting, it is really difficult for a network of voluntary, bootstrapped nodes with several bottlenecks to surpass the processing capabilities of dedicated hardware like the ones that companies like VISA employ.

LN by itself should be quite good for those of us who want to use BTC. While its a nice thought experiment, it isn't quite possible for even LN to change the status quo on this one.
957  Economy / Exchanges / Re: Binance is being investigated by the Commodity Futures Trading Commission on: March 12, 2021, 04:37:44 PM
It is funny that the US almost always does it in the name of its citizens. Going after crypto exchanges because they are fleecing citizens or selling them securities. Going after Oil-rich nations to keep Americans safe. I think there must be a lot of American regulators who probably truly want to "protect" American investors and are passionate about stopping crypto. Those people are just doing their jobs.

Sadly, they always miss the bigger picture that instead of restraining their poorest, they need to better monitor and control their richest.
958  Economy / Economics / Re: Bitcoin could win the currency war on: March 11, 2021, 08:00:34 AM
When speculating on who will become the dominant economic power between USA and China, one should keep the Bitcoin argument away. Bitcoin's dominance has nothing to do with these geo-political issues and it cannot be an alternative in a world where China overtakes the USA.

China just doesn't have the goodwill, soft-power status that USA has enjoyed for several years. This is mainly also due to American people being a force for good in the rest of the world through generations. Whether as volunteers or wealthy philanthropists. The Chinese on the other hand are a bunch of profit-seeking zombies who will sell synthetic babies if that is where the profits are.

The two just don't compare. For anybody that disagrees, I recommend watching the interaction between Elon Musk and Jack Ma of Alibaba. It is hard not to distinguish the sheer difference in their visions and intellectual honesty. While Jack sounds like the typical businessman bullshitting his way through with quotable quotes, Musk is the smart, honest one thinking about real problems. The Chinese people have a lot to do before the world can find them trustworthy of a spot amongst the best of humanity.
959  Economy / Economics / Re: The President creates a "Ministery of Extraterrestrial Affairs" on: March 11, 2021, 07:49:34 AM
Looks like the land got so full of the bullshit, it had to perform a depressurization of sorts with the volcano burst.

Nicaragua San Cristobal volcano erupts.

So another one of these poor sandwiched, central Asian countries with a dictator doing what they always do. Those of us who live in comparatively normal countries, often ignore that our freedoms are so fragile. One mad-man at the top is enough to destroy the institutions within a country.
960  Economy / Economics / Re: Bangladesh militants use Bitcoins for laundering money to Kashmir on: March 11, 2021, 07:42:35 AM
India TV is the same channel that shows hour long "documentaries" about finding a "Mummy of Raavan" in Sri Lanka. (Raavan is the villain in Ramayan, a Hindu legend). You can judge how genuine they are.

Also, even if governments ban bitcoin based on such sketchy news, the terrorists won't magically stop. When the US govt sanctioned Iran, they didn't stop flying the F-14 Tomcat. In fact, today Iran has the only F-14 Tomcats in service in the world. And they did well enough on their nuclear program too. Political problems don't end by bans/ sanctions but by actually facing the real underlying issues.

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