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1  Economy / Speculation / Bitcoin dominance hits 66.5%, alts lagging behind on: June 25, 2019, 04:03:02 PM
According to the Coinmarketcap website, Bitcoin dominance has breached the 60% level and is now reported at 60.1%. Including the forked coins (BCH, BSV, BTG.etc), the total market cap for BTC+forks comes to slightly above 64%, while the altcoin market share has dipped below the 36% mark.

I am sure that a lot of users may be unhappy about this, but I am delighted as more than 90% of my crypto assets are in the form of BTC. I had sold most of my alt holdings in 2018.

I am not very sure about the reasons behind the rising BTC dominance. But I suspect that the users have become more matured now, and a lot of them have realized that investing in shitcoins is simply not worth all the risk.

Here is my outlook for the major cryptocurrencies:

1. BTC: The prices will continue to increase and a new ATH may be reached by the end of 2019 or by 2020. The dominance will continue to increase and may reach 70% by the end of this year. But one concern I have is regarding the transaction fee. It has risen by more than 10x since the start of the year. Another 10x increase would be catastrophic.

2. ETH: The exchange rates are still lagging behind the ATH. The poor health of the ICO market is probably pulling ETH down. The Cryptopia hack also played its part.

3. XRP: I would say that this one is the most worthless and unreliable altcoins among the top 10. Therefore I am not surprised by its falling market share.

4. BCH: Holding well as of now. In case the BTC transaction fee spikes again (like what we had during 2017 Dec), then this coin can rocket upwards.

5. LTC: One of the best performing alts. However I won't be surprised if a correction occurs post block reward halving.

6. EOS: I don't know much about this coin.

7. BNB: I would consider this coin as overpriced. A correction is due.

8. BSV: A lot will depend on the future actions of CSW. Very unpredictable coin.

9. USDT: Everything was going well for Tether until the scandal at Bitfinex was revealed to the public. Now a lot of the users don't consider this coin as a reliable stablecoin. In the near future it will be facing a lot of competition from the other stablecoins.

10. TRX: An overpriced shitcoin. I don't have anything good to say about this one.
2  Other / Politics & Society / 2019 Indian general election on: May 19, 2019, 12:15:23 PM
The voting for 2019 Indian general election ends today, and I though that it will be better to create a thread here. Unlike yesterday's Australian elections, this one hasn't got much media attention from outside India.

Still, we need to remember that this election is the biggest democratic exercise in the recorded history, with a total of 900 million people eligible to vote. The system used here is first-past-the-post voting, and there are a total of 543 constituencies.

The elections were being held in 7 different phases, starting from 11th April. The turnout varied from 10.32% (for Jammu and Kashmir during Phase 4) to 85.11% (for Assam, phase 3).

The ideological position of the various alliances are as follows:

NDA: headed by BJP, a center-right party. The core support base comes from upper-caste Hindus (~15% of the population) and urban voters. Foreign policy is pro-Israel and pro-Trump, while maintaining historical friendships with Russia. Hawkish on defense policy and hostile towards China / Pakistan. Stands against affirmative action. Against illegal immigration by Bangladeshi Muslims.

UPA: Headed by INC, a center-left party. Core support base comes from Muslims (~15% of the population) and Christians (~6% of the population). Mostly depends on rural votes. Foreign policy is pro-Palestine and pro-Democrat with preference for Russia over USA. Pacifist defense policy. Strongly in favor of affirmative action and tolerant of illegal immigration by Bangladeshi Muslims.

Others: A bunch of regional parties with different ideologies. Don't have any foreign policy. Most of them derives support from rural and minority voters. Have more ideological similarity with UPA.

These were the seat positions during the last election:

NDA - 336 (ruling alliance)
UPA - 60 (main opposition alliance)
Others - 147 (most of them allied with UPA informally)

As per the last opinion polls (published in April), this is the prediction (exit polls will be available in another 45 minutes from now):

NDA: 275 to 310
UPA: 122 to 149
Others: 111 to 142
3  Other / Politics & Society / Russia loses billions of USD to crude oil sabotage on: May 04, 2019, 01:42:44 PM

One of the threads of the Russian oil pipeline to the EU has been shut down, after organic chlorides were found in the supplies. More than 30 million barrels of crude was contaminated (worth around $2.2 billion) and by the time the issue was noticed sections of pipeline and refinery equipment underwent significant damage. In legal terms, Russia needs to bear the bill for crude replacement and equipment repair.

It is still not clear who was behind this sabotage, but the authorities are claiming that the incident occurred at the Samara Transneft Terminal, where several smaller companies inject their crude to the pipeline system. The investigation still has no idea which one of these producers injected the contaminated crude.

Initial estimate for the loss to the Russian exchequer is anywhere from $6 billion to $15 billion.

4  Alternate cryptocurrencies / Altcoin Discussion / What does everyone think about the new POWlite token through FACEBOOK login? on: October 08, 2017, 04:41:41 AM
There is this new airdrop at What do people here recommend about this particular token?  It can be had through FACEBOOK login. If the good folks here can shed more light on this one, that would be amazing 😉
5  Other / Politics & Society / Interview with a Bangladeshi Muslim criminal who killed more than 500 girls on: July 30, 2017, 01:26:28 PM

It can't get any more disturbing than this. This is an interview with one of the biggest criminals in Bangladesh, who is active in the Chittagong Hill Tracts region (a region mostly inhabited by mostly Buddhist and Hindu tribal people). He admits that he has sold more than 5,000 tribal girls to brothels during the last 7 years, and claims that he has killed over 500 of them when they refused.
6  Other / Politics & Society / John McCain diagnosed with brain cancer on: July 20, 2017, 06:57:35 AM
John McCain has brain cancer, his office says

Veteran US Republican Senator John McCain has been diagnosed with brain cancer and is reviewing treatment options, according to his office. The options may include chemotherapy and radiation, his doctors said. The 80-year-old politician is in "good spirits" recovering at home. The tumour was discovered during a surgery to remove a blood clot from above his left eye last week.

I was saddened by the news. Although I don't agree with his political views, I regard him very highly for the courage he had shown in Vietnam. Just hoping that he'll recover quickly.
7  Other / Politics & Society / Qatar is still the richest country in the world on: July 12, 2017, 01:52:45 PM
Despite the sanctions/blockade from Saudi Arabia and its allies, Qatar has maintained its position as the richest country in the world, ahead of Luxembourg. Interestingly, 4 out of the 5 countries are in the Asian continent, with Macau, Singapore, and Brunei occupying positions #3 to #5. Average wages in Qatar stands at $129,112 per head, which is almost double of that in the United States.

8  Other / Off-topic / Official thread for Hindus and Hinduism on: May 21, 2017, 05:44:22 PM
Hi everyone... In the Politics section I saw a lot of threads discussing Islam and Christianity. But I was surprised that there was no mention about the third largest religion in the globe (Hinduism). Please use this thread for discussions regarding Hinduism.
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