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641
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Economy / Economics / Re: It's good that financial instutions Understood that they need to use crypto
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on: August 25, 2023, 03:51:24 PM
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I know that it will not be simple and it should take some time but that doesn't mean that it would be possible to make a profit. It is going to be that possible for us to make some profit then we should consider it a better approach. Hopefully it will be possible to add more later on when the time comes and should make a profit.
I don't know what you mean by 'make profit' here but as far as I know, paypal only release a stable coin, so it backed by USD, the price will never be far of 1 USD, so we can't really speculate or make profit from it. But if you mean just simply using it for transaction then that will do. |
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642
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Economy / Economics / Re: BRICS has become eleven countries instead of five.
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on: August 25, 2023, 03:46:44 PM
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The new 6 countries that mentioned in the article seems only got the invitation, none of those country has confirmed that they actually want to join BRICS at least as far as I know and at the time when I write this reply. All that being said if those countries were to join BRICS then it is a new world order indeed, they already got India and China, with UAE, Saudi, and Iran join in the west should really consider to start their move (whatever that move is, but idk). No offense but UAE, Saudi and Iran will have more significant influence than the other three countries.
This is wrong. Before the BRICS summit, 22 countries filed formal applications to join the alliance and six applications were granted. Initially, 5 applications were granted, then Ethiopia was added to them for "geographical reasons". Officially, membership in the alliance will begin for new members on January 1, 2024, and the alliance itself will probably be renamed BRICS+. My bad, I guess I only followed the BRICS stuff after they officially formed the first alliance of 6 countries, never researching about the previous event. But after some due diligence I found that there are actually 40 countries that are interested in joining, but only 22 that have filled official application. |
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643
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Economy / Economics / Re: How can we improve our country's economy by on culture or ecosystem?
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on: August 25, 2023, 03:38:21 PM
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~
Of course! Most children in Asia have parents who work all day and sometimes even a whole week. This causes a lack of parental role in raising and educating children. In economic terms it is the same. I believe most Asian children experience childhood without economic guidance from their parents. And I'm grateful because it makes us strong people in finding our own way to improve the economy and help our family's economy.
Well not all Asian, I don't want to sound stereotyping but it's true, all of my chinese friend were taught how to manage their money, and how to make more money from the money that they got from their parent since they were young. Not all of them are rich but even the middle-class chinese parent teach better about money compared to other rich non-chinese parent. What I am saying is that other Asian parent should do that too, it is not impossible and not so hard. |
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644
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Other / Beginners & Help / Re: Do you think privacy is important for a beginner?
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on: August 25, 2023, 03:31:10 PM
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I think it will be very different for each person, and not because a beginner on an expert just personal preference. For me I wouldn't mind sharing my real name, email or a country where I live in for them to know my timezone to any person who I want to have business with, like a potential client. For some people even a real name is a privacy they wouldn't give their real name to any person they meet online, even when they meet on a real world they would still use a fake name, I don't think that's wrong tho, just a preference. On the other hand, I wouldn't give my address, my age, or other non-business-related or personal information, but some people would just give those detail easily to everyone they meet. I am not going to judge them, I just think that's risky.
Everyone needs to be careful with their privacy whether a beginner or an expert. Ideally, we don't share whatever the personal information to random people. I also never share my real name, my residence (address), age, email, country, or anything related to my secret information. Even I rarely posted photos on social media to avoid the misused of hackers. We must be aware to keep our privacy because hackers are getting smarter. Moreover, the technology always develops, there will be more ways to hack/scam people. So, it is stupid if someone easily share their personal data to random people. Or share the information to social media channels. First thing, you shared your Location publicly on your forum profile, so I don't know maybe you missed this one, you might consider changing it. I do agree that sharing anything to RANDOM people online is stupid thing, but I think no one is that stupid to share anything to just RANDOM people. People wouldn't just share their personal information without any purposes, and that definitely not to random people. |
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645
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Economy / Economics / Re: Economic Crash may take bitcoin to 1M dollar
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on: August 25, 2023, 03:08:22 PM
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I do agree if the world economic crash Bitcoin will be the first option for people to move from their fiat currency, and it definitely coudl lift Bitcoin price and 1M USD is not impossible. But that all being said, I don't think the current economic situation is that bad, it's recovering, the fall of USD does not mean the world economic is crashing.
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646
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Bitcoin / Bitcoin Discussion / Re: Has Bitcoin Helped Create Big Changes In Your Life?
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on: August 24, 2023, 12:47:24 PM
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Bitcoin introduce me to a whole new industry, the Blockchain Industry, in this industry I found so many opportunity to do something I love and earn money from it. Especially in this forum, I found so many client that like my work and paid me in a very respectable amount. Other than those economic side, I also meet new people learn from new perspective, lots of good thing happened in my life because of Bitcoin.
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647
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Alternate cryptocurrencies / Altcoin Discussion / Re: Avoid Airdrop Scam on Trust Wallet via Links
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on: August 24, 2023, 12:44:00 PM
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Airdrop is a hunting field for scammers, all airdrop hunters is also being hunted by the scammers. Researching for airdrop need much more effort then researching for investment. Anyone who doesn't have the time to be invested in researching Airdrop better just stay away for it. As my experience there is only 1-2 airdrops that actually worth some money in a year, the other will end up as shit coin, and most of them is scammer, take the actual investors money and just drop their project.
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648
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Bitcoin / Bitcoin Discussion / Re: Would Bitcoin at this Price limit its Global Adoption?
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on: August 24, 2023, 12:37:57 PM
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Michael Saylor stated that people buy Bitcoin at the price they deserve. Just a few days ago, Adam Back made a bet on Twitter that Bitcoin would reach $100,000 by March 31st, 2024. Here's a concern I have, do you think the predicted increases in Bitcoin's price to $100,000, $200,000, $500,000, etc. will limit its global adoption? Since the price will be so high, the average person might not be able to afford a substantial amount of it. As a result, they might seek alternatives, potentially hindering global adoption. Could the excessively high price lead people to feel like they missed out, causing them to hold onto seemingly worthless fiat currency?
I don't think Bitcoin price would hinder it's adoption, as long as people still value everything with USD (and other fiat) and fiat is still the main currency to be used, then there will be no problem how much is Bitcoin price, people will still value service and goods based on USD, Bitcoin will only be used as a tool to transfer the value of those fiat. |
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649
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Economy / Economics / Re: It's good that financial instutions Understood that they need to use crypto
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on: August 24, 2023, 12:33:00 PM
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Dude? Tron network isn't faster and cheaper anymore, since the last year you need to pay around $2 as the fee. If you send Tron coin, it's definitely cheap, but if you send a token that run in Tron network, it's expensive.
I think OP is talking about Tron token itself and not Tron USDT or token built on Tron network. Transferring Tron token itself in most exchange is cheap as it cost just few cent.
ETH and Tron fee are nothing different, actually Bitcoin fee is way more cheaper even though it's decentralized and has huge volume.
Bitcoin should have been the best for any organization but since OP is trying to talk about cheap transaction here, I think BNB may be a better option. OP was talking about the blockchain that is used by Paypal for their Stable Coin, not the cryptocurrency they used. Paypal can't use Bitcoin blockchain to deploy their stable Coin. I don't think Paypal is wrong for using Ethereum, compared to Ethereum, BSC and Tron is relatively new, and less reputable, as a company that already big and has reputation PayPal decision to choose Ethereum is understandable. Tho adding other blockchain support for their stable coin would attract more people indeed. |
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650
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Economy / Economics / Re: BRICS has become eleven countries instead of five.
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on: August 24, 2023, 12:22:47 PM
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The new 6 countries that mentioned in the article seems only got the invitation, none of those country has confirmed that they actually want to join BRICS at least as far as I know and at the time when I write this reply. All that being said if those countries were to join BRICS then it is a new world order indeed, they already got India and China, with UAE, Saudi, and Iran join in the west should really consider to start their move (whatever that move is, but idk). No offense but UAE, Saudi and Iran will have more significant influence than the other three countries.
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651
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Other / Beginners & Help / Re: How to smell fraud in projects and detect Ponzi schemes from far as a Newbie
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on: August 23, 2023, 02:18:58 PM
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Ponzi scheme is simple, you don't need all of those, if a project is more focus on getting more people rather than improving and developing their product then it's a Ponzi Scheme. Fraud on the other hand is much more complex, the High APR-APY might be the easiest way to detect fraud, not just High but an unreasonably High APR-APY, if it's too good to be true, then it's too good to be true.
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652
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Other / Beginners & Help / Re: Do you think privacy is important for a beginner?
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on: August 23, 2023, 02:11:58 PM
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I think it will be very different for each person, and not because a beginner on an expert just personal preference. For me I wouldn't mind sharing my real name, email or a country where I live in for them to know my timezone to any person who I want to have business with, like a potential client. For some people even a real name is a privacy they wouldn't give their real name to any person they meet online, even when they meet on a real world they would still use a fake name, I don't think that's wrong tho, just a preference. On the other hand, I wouldn't give my address, my age, or other non-business-related or personal information, but some people would just give those detail easily to everyone they meet. I am not going to judge them, I just think that's risky.
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653
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Economy / Economics / Re: My wealth plan for next 3 years
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on: August 23, 2023, 02:00:32 PM
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First thing, I would like to give a disclaimer that what I write here is not investment recommendation, merely a non expert opinion from forum member. Investing using money you got from the loan is not very wise, there is no guarantee that your investment will actually got profit, if it turn out to be a loss, from the decrease of value of your portfolio and also the interest you need to pay from your loan. Even if it's a profit, is your profit more than the interest? if not it's still a loss.
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654
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Economy / Economics / Re: How Does devaluation of currency helps to build a dwindling economy?
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on: August 23, 2023, 01:51:46 PM
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From what I understand the idea was by devaluing currency a country is mainly to attract export because the price for their product and service will cheaper in the international market. That being said, all of those is just an idea, the practice was not that easy, most of the times when the export target is achieve or even surpass the production is stuck, thus it's not really give significant impact. Devaluing currency must also be supported with other macro economy policy that's not so simple.
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655
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Economy / Economics / Re: Which problem will you choose to solve?
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on: August 23, 2023, 01:36:25 PM
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 I came across this tweet, so the reference is the username. I thought it was a topic worth bringing up for discussion to see the choice that will be made by forum members. This topic is about solving problems as a service you render to make a living. Which of the problems will you prefer to solve as a service you render? the problems of the poor? or the problems of the rich? (support your choice with a reason) I posted this here because it relates to choices we make concerning how we want our finance to be, if this is a wrong place and the topic fits better in "politics and society", I will be happy to move it there. Since this is an economic board, so I assume what you mean by problem is economic problems. So then, rich people have money and I think half (or even more) of their economic problem is solved, that's why I would choose to solve poor's people problem because I think it's more urgent. |
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656
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Other / Beginners & Help / Re: Some Security Tips
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on: August 22, 2023, 01:55:43 PM
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All of those security measurement will not be needed, if you just use a cold wallet or paper wallet if you want to actually safe and hodl the bitcoin, holding anything on a custodial/exchange wallet is never safe, and shouldn't be done in a long term, only put the crypto on exchange when you want to exchange it.
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658
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Economy / Economics / Re: Criteria for Evaluating Potential Cryptocurrencies for Investment in the Market:
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on: August 22, 2023, 01:42:45 PM
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For me I would just pick two factors, first whether the product actually solve a problem, if it does then the other factors like Community, User, Partnership, etch will follow, even if the Technology not too advanced, or even the developer is not some big names, but if they have working product and the product actually useful, its worth to watch. The second one is whether the Token of the project is essential, some project creating Crypto Token solely to raise some fund, then then after that the token has no use at all, then the company will eventually left the token buyers with nothing.
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659
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Economy / Economics / Re: Deflation
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on: August 22, 2023, 01:31:45 PM
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Deflation is good at some level, but over-deflation could be as bad as inflation. In the consumer psychology, consumer will hold their price in hope for a better price, it will definitely slow the economy. The chain effect of that will lead to more debt default since people are holding money, and it will be very bad for banks and the macro economy.
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660
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Economy / Economics / Re: Argentine leading candidate: Pro Bitcoin, anti CentralBank, wants dollarization
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on: August 22, 2023, 01:20:04 PM
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I don't know how politics in Argentina is, but for where I came from politician will say anything to get themself elected. With the 114% annual inflation, moving to a bitcoin will be popular promise, though I would argue that those policy alone wouldn't instantly make the economy could recover, but at least the candidate will get the vote, that's all they want. It would be good for market if Argentina will actually get rid of centralbank and move to bitcoin, but if it's not even after the candidate who was promising those is elected, I wouldn't be so surprise.
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