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1  Economy / Economics / Re: Miami mayor considers investing in bitcoin with public funds on: January 24, 2021, 10:40:53 PM
if they follow through, would this be the first direct investment of government funds into bitcoin?

Maybe the first publicly known if this happens but there is a chance that this might not be the first one. Government funds especially the ones in LGUs have cash reserves that are meant for investment and most of them invest on anything they want depending on their risk factor and as long as it is legal so I won't be surprised if their analysts and fund managers have bought cryptocurrencies as a chance for growing their fund. Also for me the mayor is already late in the action and I just hope their fund manager knows that, buying in now will just give them a little space between the ATH.

WHile an interesting thought experiment, unless this investment is meant for long term, they'll probably be surprised if the price is behaving erratically, just hope whatever preparation they do is sensible. Fund managers can make or break initiatives like this, hope they pick a good one, at least one familiar enough with BTC to make a coherent plan of investment.
2  Economy / Economics / Re: The recent rise in prices, temporary or more long term? on: January 24, 2021, 10:39:29 PM
Now that bitcoin attracted more and more investors including billionaires, millionaires nd big companies like paypal, I think the price of bitcoin will continue to increase and it's not temporary, but of course we should always be ready for anytime price corrections.

Well, we should be. Let's take that as a breather and it happens every time the price makes these kinds of pumps. The price is going back and forth at $30K and $33K and we are seeing the price getting unpredictable again. I don't know if we will be hitting the price at $20K but I don't think it will last there considering the number of investors lately.

Even if price falls to $20k, it'll bounce back up. To a minimum of $65k by eoy.
3  Economy / Economics / Re: All world banks need bitcoin now big solution on: January 24, 2021, 10:38:29 PM
Banks can put as many prohibitions as they want

But even they can't really prove that x y or z transaction within their bank was done to BUY or SELL bitcoin, p2p platforms that connect bitcoin users in a certain country help "hide" this part from them, at least until they embrace btc or are taken out of the equation entirely.
4  Economy / Economics / Re: Is Bitcoin viable? on: January 24, 2021, 10:37:02 PM
This might have been answered elsewhere but couldn't find it, if it has.

The miners get paid less and less as time goes on. 
With the ledger also growing bigger and bigger, wouldn't the cost of mining start to exceed the profitability of mining?  If no one would mine bitcoins anymore, wouldn't it shut the whole system down?

THis is exactly part of what drives price up. If profitability of mining is too little, miners would drop. There's increasing concerns about the effect of BTC due to its carbon footprint, this way there's a balance between viability and power consumption. Currently there might be more miners than necessary, but eventually even that will level off as well.
5  Economy / Scam Accusations / Re: Help me Hitbtc on: January 24, 2021, 10:34:14 PM
Don't they ask for TXID's? Screenshots can be manipulated, I'd suggest you go through your incoming transactions or even the sellers and ask them to provide the TXID, it's your best shot. Another thing is to keep a copy of all addresses you send money to, so you can manually get your TXIDs if necessary.
6  Bitcoin / Bitcoin Discussion / Re: Will bitcoin be the ideal currency of the future? on: September 26, 2020, 11:17:00 PM
I don't think that it would be possible in future, even though cryptocurrency has been used by so many people around the world, even though it is really helpful for everyone who is using it, it cannot still be a standard currency in the future because as what we all know it is decentralized, which means it cannot be handled by the government and its volatility makes it not suitable to be used for daily lives.

I think cryptocurrency is only good as an alternative currency for fiat currency, it is meant to be converted to fiat currency whenever we want to.

I agree, maybe bitcoin as we know it will be the BASIS of whatever currency we wind up using down the line, but I do think that whatever we end up using will be somehow referencing BTC (i.e, it won't just use "the blockchaiN", it will be built on top of the actual bitcoin blockchain but be much more scalable).
7  Bitcoin / Bitcoin Discussion / Re: Government figures or politicians supporting Bitcoin? on: September 26, 2020, 11:14:31 PM
Any politicization who realize they could get additional donation by accepting Bitcoin. At very least least they claim they support Bitcoin, even though usually they'll forget about Bitcoin afterwards.

Doesn't mean it isn't a good thing, it's a win win for both sides IMO.
8  Bitcoin / Bitcoin Discussion / Re: Whatever Happened to Proof of Keys? on: September 26, 2020, 10:56:19 PM
I guess people don't care enough. I've never personally participated on these, even if some exchanges failed in the past on these, what does it matter now, I'm always able to withdraw my crypto from the exchanges I've chosen to use anyway, stressing their servers for no reason of course will clog them up, I think people just didn't care enough about it.
9  Economy / Exchanges / Re: Not your keys, not your Crypto – Kucoin Hacked! $150m Stolen. on: September 26, 2020, 10:34:51 PM
"All your funds are safe" is hardly ever true, I don't trust that big hats of Kucoin will shell out the cash to repay the lost money. It's just not usually the case man.
10  Bitcoin / Bitcoin Discussion / Re: A woman has been arrested in the United States for hiring a killer with bitcoin on: September 26, 2020, 10:33:25 PM
Seems like an old article? 12 bitcoins which equated to $5000, at today's price, 12 bitcoins should go for around more than $100,000. Sides, even if we do say that the woman got it since she didn't hide her address, that was years ago when not much was really being paid attention to the security or privacy of addresses of most people. Plus, oddly enough, it's either the killer met up with the woman herself and transferred BTC directly, or through address, but in that case, the killers should also know who the woman is. If that was the case, kind of stupid from the side of the woman who hired the killer.

There is no killer...   Undecided It's a scam. People that kill don't work on the internet.
There is, but negotiations broke down. If what @TedMosby's link is actually the article op has said, then negotiations broke down after the killer tried to offer more expensive ways to kill someone. Seeing that OP and the link provided pertain to the same woman, it should be the same story OP has said.

It got necroed by some twitter "news" handles and it took off, anyway, I saw this earlier today in one such profile. I mean I'm all for bitcoin chatter either way.
11  Economy / Speculation / Re: History shows Bitcoin price may take 3-12 months to finally break $20K on: August 30, 2020, 08:21:53 PM
No one knows will btc break 20k again in this run or not. We already stucked between 11-12k range and this getting dangerous for furhter growth

It is still pretty reflective of previous halvings, I don't doubt we'll see a new ATH soon, just don't go all in in the highest peak as we'll probably drop down to $18k or even $10k afterwards.
12  Bitcoin / Bitcoin Discussion / Re: Bitcoin's Image Is Getting Stronger by the Minute on: August 30, 2020, 08:19:46 PM
The dollar continues to plummet as the U.S. struggles to reopen due to the pandemic
Being the world’s reserve currency, however, the dollar is expected to maintain its strength and recover from the downturn as soon as things get back to normal.
More and more people are starting to perceive bitcoin as a store of value
All of that is true, but its not that easy to world’s reserve currency maintain its strenght/value while printing like MAD.
This is real problem, everyone but USA mostly printing like mad lads. Value of currency beign printed this way plummeting, other resources price going up (gold, BTC etc.)
Dollar wont recover from that easily. I dont think its even possible, especially now while crippled economy from covid.


Thing is, many countries are printing like mad to flush money up from the poorest. This is not socialist propaganda or whatever, it's just what seems to be happening. Other countries do better. Not all countries are printing like mad though. But what better way to build an alternative road to the impending overinflation of many world curriencies than by buying bitcoin with those savings.

I can say now I'm confortably at 50% btc savings, 40% in my local fiat currency (EUR), 10% in a few different FIAT currencies.
13  Bitcoin / Bitcoin Discussion / Re: Do scams harm Bitcoin's reputation in the mainstream world? on: August 30, 2020, 08:09:20 PM
The scams and other allegations in the crypto space are very alarming these days. Although some people will have fears investing in crypto’s, a lot more people are also eager to join. Well for people who do not understand much about cryptocurrency and just see it as another source of investment alongside what the banks offer, they would be bothered. Those of us who have witnessed scams even in the banking systems understand it’s normal.

Yeah, anyone with 2 fingers or more worth of forehead will see past the "scam" and realize the benefits bitcoin holds, why do these people use it to begin with? But it's not everyone who thinks like this.
14  Bitcoin / Bitcoin Discussion / Re: Barriers preventing you from using bitcoin today/advantages of using bitcoin? on: August 30, 2020, 08:08:06 PM
1. For privacy: Not like I'm buying dragon dildos or something similar, but I feel more comfortable buying stuff peer-to-peer; without(or with less) centralized entities knowing what I'm buying. Unfortunately of course, what you can buy with bitcoin online is very limited.

Agree, and if anyone expects more options to just pop out of nowhere, and I mean some sort of platform that accepts bitcoin and gives out fiat to businesses that want to dive into it without fully embracing bitcoin, well, it's just centralization with extra steps. We have to wait until bitcoin is more widespread for online payments to be more accesible in btc.

There are a lot of various advantages of Bitcoin in general, but it's mostly:
2. Having self custody: not necessarily concerning payments, but it feels great having total ownership of the money(bitcoin) I have; especially right now whereas the whole world is going bonkers.

Yeah, I agree iwth this deeply, there's just some solace that if all goes to shit I still own and control my stuff and not some guy elsewhere.

3. Because fuck PayPal. Seriously. So much problems with it throughout the years that it's unfortunate that my options mostly are pretty much either use PayPal, or use my debit card.

PayPal sounded like a good idea when it was first introduced, but there are very high fees for cross country purchases which kind of defeat the point of a global payment network. This is my reasoning why bitcoin is better.

ALso it's not just paypal, but whatever payment platform out there.
15  Bitcoin / Bitcoin Discussion / Re: Will the need to increase BTC's max supply arise in the future? on: August 13, 2020, 11:22:25 PM
If it ever becomes a world reserve currency used for payments all around the world like some people believe we will have to think of something.

By the time Bitcoin reaches 21 million we will probably have at least 1/4 of that permanently lost and another 1/4 in safe accounts of lifetime hodlers which will leave only 10 million in circulation. That's not enough for over 500 million people. I said 500 because not all people in the world will use Bitcoin just like USD and EUR are estimated to be used by about 350 million people each.

Yes and no. I don't think that we will ever need an increase in the max supply, and you have given the reason right there, even if we get very widespread adoption, it'll prolly never go over 500m users, and 10m btc is more than enough, if it isn't, then price will increase and it will fit, as long as the chain can handle the traffic we should be good, there'll be a point where we'll switch from large transactions (0.01 or more btc) and, let's call it regular transaction volumes. To a smaller transactions (sub 0.01) but in much greater volumes, and it'll be dictated once price rises.
16  Bitcoin / Bitcoin Discussion / Re: Is there a Fake Bitcoin? on: August 13, 2020, 11:06:45 PM
In the real world, we used fiat or physical money in our daily spending. And this physical notes can be use in fraudulence or a so-called Fake Money.
How about in Cryptoworld, is there also a Fake Bitcoin? If there's any, how can we identify it?

Everything that is called anything other than Bitcoin is probably a fake bitcoin.
17  Economy / Trading Discussion / Re: Trader made 89% profit in minutes. Have anyone experienced it..? on: August 13, 2020, 11:04:18 PM
This trader has made a profit of $40000, with the capital investment of $45000. This too is achieved using the stablecoins USDT and USDC. In between the trader has borrowed $40500 and with the swapping between exchanges has netted the profit of $40000 after paying a transaction fees of $2000. In simple the process involved in the trade is being depicted in a flowchart.

Source : coindesk

Even though it's remarkable, impressive and even a bit enviable, it's a process that I'm sure took months to perfect, and if you look closely, it's very much arbitraging, or as Morty says "it looks like arbitraging with extra steps", in my opinion, to find arbitrage oportunities this big and to get all pieces to fall into place there is a certain amount of leg work behind that we just won't know until we actually dig into doing it.
18  Bitcoin / Bitcoin Discussion / Re: Scam victims on: August 13, 2020, 11:00:22 PM
Do you know of any resources to help victims of crypto scams recover their losses?

I was a victim of one made by coinkast.io where they had me pay more money to release my funds and then they kept adding additional fees... so basically I lost $100k+ and I need to recover it someone especially since much of that were loans I took out.

Any help or links to agencies that can help would be appreciated...

Thank you in advance

No, there's no way to recover money someone stole from you. The best anti scam mechanism is to not play with money emotionally, but financially soundly. Be cold headed about your inversions, DO NOT INVEST BECAUSE FRIENDS TELL YOU TO, DYOR and make sure you know what you're getting into before you listen to advice from someone else
19  Bitcoin / Bitcoin Discussion / Re: Will the need to increase BTC's max supply arise in the future? on: August 09, 2020, 06:34:26 PM
For long, Bitcoin has been touted as the "store of value" of the crypto/Blockchain space with its limited supply of 21 million coins. Based on estimates, all Bitcoin will be mined by 2100. Now, what if developers decide to increase that hard cap in supply? If at that point in time, Bitcoin's prices stay just the way they are right now (less than $1m), it may become unprofitable for miners to continue supporting the Blockchain. With no block reward, they'll be living off fees. If prices are too low, earned fees won't be able to sustain miner's operations. By then, developers would need to raise the limit of 21 million coins to a higher value, re-introducing a block reward in order to attract miners into the Blockchain. Otherwise, the security of the Bitcoin blockchain will be at risk.

Do you think that the need to increase BTC's max supply will arise in the future? Or will Bitcoin be able to "live" just fine with a max supply of 21 million coins? Your input will be greatly appreciated. Smiley

That would not be a good idea, it would undermine one of the principles it was built upon. 21m btc stays!!
20  Bitcoin / Bitcoin Discussion / Re: Dead by 2106 on: August 09, 2020, 06:28:31 PM
There is no problem that cannot be resolved, so don't worry about it, why say tens of years from now, why do you have to later if today it could die, you don't have to overdo it to analyze something that is not certain, bitcoin still looks fine even up to 2106

Yeah, sometimes the especulation game goes too far into irrelevancy, what does it matter what will it look in 100 years, as long as it isn't detrimental as a whole, I'm up for it man.
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