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1  Economy / Economics / Banks would suffer till at least 2025, according to IMF on: May 25, 2020, 10:38:00 AM
A new report from the International Monetary Fund predicts that banks across nine advanced economies will suffer sharp declines in profits through 2025, and that “substantial action” will be needed to make up for earnings shortfalls caused by the coronavirus crisis.
Banks have already been hit hard by the coronavirus, with the five biggest U.S. banks seeing double-digit profit losses during the first quarter, and the IMF says they aren’t likely to bounce back quickly.

It doesn't seem like the US could actually bounce back immediately after this, even with them being at the top. What more of those countries at the lower end right? Sure, the damage may not be as huge as what the US was inflicted but we've got to look at the scale instead. Plus, even if we did give at least 5 years to the banks, them bouncing back that fast seems to be out of the question. The vaccine hasn't even been made yet and there aren't really any positive news with regards to it after all, so it may actually take longer than that.

On a side note, Warren Buffett remarks the following

“I remain convinced… nothing can basically stop America."
"In the end, the answer is: Never bet against America.”

Basically Warren Buffet, a key player of the 2008 financial crisis, believes that America can still standstill despite the overwhelming losses that the economy of the US has experienced and would probably experience in the next few years. Nonetheless, he hasn't really made any large moves recently, even with the stocks dropping quite hugely.

2  Alternate cryptocurrencies / Altcoin Discussion / Digital Yuan as a possible Cyber Weapon on: March 22, 2020, 06:06:12 AM
Summary of the article basically describes how digital yuan could be used as a cyber weapon, especially because of how China has developed its own system of payments from the past. They, as the country who pushes forward with mobile-first payments, have already dominated people with no bank accounts. A lot of fear towards the Digital Yuan is presented because of how China could potentially spread it not only in their country, but also overseas. This was the so-called new Silk Road of China. And there's also how the US sees no need for their own Central back to develop a digital currency.

Tbh, I'm more than up to it for the digital payment system that China is currently pushing for. The idea that is, but them doing it? Not so much. IF you were to navigate on the bottom of the article, it has already stated how the system introduced could induce a control freak like attitude from China. Just like how most of their country ( if not whole ) is observed by the Skynet system, it shows that they could observe every transaction made, and freeze any transactions or even seize their assets.

Of course, Bitcoin is doing something similar to this, but China holds the upper hand in spreading its influence right now. Just like what the US fears, China could harness the system of Alipay and WeChat. If spread across Asia, ignorance could lead to acknowledging this instead of Bitcoin because of the mass influence those apps could bring to Social Media.

3  Bitcoin / Bitcoin Discussion / Bitcoin trading by Italian Banks on: March 20, 2020, 08:54:07 AM
Recently, Italian banks have opened up their own crypto trading services. Not only is it for trading, but the crypto traded can also be used as a mode of payments for goods and services. It's also a timely decision by them especially with the quarantines happening all over the place, and even if there wasn't one, people would still be quite afraid of going outside in fear of being infected by the virus. Don't tell me about how the chances are close to null if there isn't anyone infected in your place, fear can be quite a fearsome thing.

It's quite encouraging that even among banks, some fully support the development of Cryptocurrency and would even be the one to start influencing their fellow countrymen of its existence. Plus, they're also fully integrating it into their everyday transactions. I'm not particular about the specifics of how the system does the trading, but based on the article, no KYC is involved which is another plus factor imo.

4  Other / Beginners & Help / Monitoring sites on: February 22, 2020, 05:02:33 AM
Found a pretty good article listing a few sites that you could use to monitor information regarding BTC. There are a few categories and sites between each category so I'm just going to list a few of them.

Information regarding price changes sites: - looked it up a bit and it lists a lot of coins sourced from various exchanges. Seems like you can also create your own layout based on your own pairings and such. It seemed like a clone of the old Bitcoinwisdom, but ever since it has stopped updating since last year, has been the one mostly used. - a site that covers a lot. Like a lot. Price, hash rates, transaction value, fees, and even social media stats. They also have a mining calculator in their site which shows the mining profitability of different coins, depending on the inputs you put together - Same with bitinfocharts, it offers a lot of information for the users to browse through, though more specifically, it provides more info regarding the research side of things. It also provides analysis and daily news regarding the crypto scene.

Animated price charts - It's a pretty adorable site, much like every day where it shows weather changes regarding BTC. You can also check the prices out in fiat currencies, saving the hassle of having to calculate for them based on USD prices, Though it seems like the only chart it is able to show is BTC. -  a site that uses visual effects to show how transactions of conversion of BTC to fiat are made. Although to be perfectly honest, you're mostly just gonna watch how every bubble(visual effect of fiat to BTC) go to the US since most transactions go there. Well, it also shows crypto news so that's a plus.

Social markers a pretty famous site, it shows the status of a coin in the social media, together with its price, more speciffically, it shows the number of it's reddit subscribers, telegram users, fb likers and twitter followers. It also has a tab for developers that shows contribution and changes regarding the codes used. - It has a Fear and Greed Index which I'm sure most of the experienced traders have used and seen every now and then. It also shows how that Index is calculated through its data sources which you can see on their site itself. Well, it also has a simple UI regarding market changes as well as trends analysis, so it's pretty useful to visit if needed.

Hashrate and Hash Distribution - It contains a lot of Blockchain charts, specifically for BTC. From Currency statistics to Block details to Mining Information to Network Activity to Blockchain wallet activity. There isn't a single chart for each, but rather multiple ones with various descriptions like Market price, hash rate, Number of transactions per day and the like. - it shows a side by side comparison of three coins based on different metrics related to mining like Network nodes, number of transactions, etc. These coins are specifically BTC, BCH, BSV. Heavily catered to only those who want to know info regarding those three.

Specialized/Technical Resources - I thought it was satoshi at first, but anyhow, the site shows basically realtime bitcoin node status. It also contains various dashboards of charts such as Fee estimates, Bandwith usage, Blocks, and the like, which just like the category says, pretty specialized imo. - Just like, but shows different types of information such as BIP 11 Output statistics, Bech32 statistics, and the like. Simply saying, more specialized stuff.

Just listed a few of what I think is pretty good and pretty simple to use sites. There are still quite a few listed on the article, so if you want to check it out, here's the source


I wasn't the original article writer btw, I just wanted to share it here, especially to newbies who don't have any idea where to look in terms of information/statistics regarding the crypto scene. Also, if there's anything wrong with the post or its borderline plagiarism, feel free to say. I'd edit/remove the post itself to fit the criteria.

PS. If there was a post like this before, do tell. I might just remove the thread itself since both posts might have duplicate information and all.
5  Economy / Speculation / Disturbing on: November 22, 2019, 12:18:02 PM
It's kinda disturbing how every major overhaul is a result (Probably) of China's action towards the crypto space. Last time when BTC jumped from 7.3k to 10k, there were talks that it was China's announcement regarding their choice to concentrate on developing blockchain technology. We've seen the gradual stabilization of 10k to 9k then dropping down to a bull run of 8k and at the moment, 7.1k. The progress from 9k - 8.1k took a few weeks to say the least, and yet, BTC suddenly took a drop from 8k - 7.1k, ever so closing into the 6k mark.

And at this point in time did China announce that they are vowing to ban all local crypto exchange inside their country. This isn't a result of them having majority of their local market for the crypto, but a genuine ban on it and instead said that they would focus more on blockchain technology instead.

6  Local / Pilipinas / Bullish time? on: November 06, 2019, 03:40:40 PM
Mukhang nag let go na si China sa regulations nila about sa BTC mining ang China. This could be a call sign para sa bullish run ng BTC for this end of the year, we never know though. PLUS, nagsign na si China and Hongkong ng agreement para mapush yung Blockchain technology. Long story short, nagkaroon na ng MoU ang dalawa para magproduce ng trade finance platform that could potentially be a"more convenient trade finance".

In all honesty, ang pag push ng China for blockchain development and slow acceptance nila sa BTC is really awe inspiring since they truly trust the potential of those, and I do as well, which makes it really awe inspiring for me. The end of the year na pero dumadami pa rin ung moves ni China towards positive response sa adoption of cryptocurrency and blockchain tech, which is evidently good news for the crypto community right?

Source: China removes ban of Crypto Mining
China and Hongkong signs an agreement.
7  Economy / Trading Discussion / Huobi forcing out US traders out on: November 05, 2019, 09:24:55 AM
It seems like Huobi has finally had enough and wants to push every US trader out of their exchange because of the strict regulations Americas have with crypto. Although they have a US based exchange that US citizens could use, having these different exchanges could be quote confusing don't you think?

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