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1101  Economy / Economics / Re: EU summit: Leaders reach landmark €1.82 trillion COVID-19 recovery deal on: July 22, 2020, 09:50:44 PM
Quote
EU leaders reached a landmark €1.82 trillion COVID-19 recovery package early Tuesday morning.

It comes after days of sometimes bitter discussions over the seven year budget and recovery package which includes jointly borrowing a €750 billion recovery fund to be shared as grants and loans.
Source: https://www.euronews.com/2020/07/20/eu-summit-deadlock-see-talks-stretch-into-sunday
Alternative source: https://www.ft.com/content/713be467-ed19-4663-95ff-66f775af55cc

Long overdue deal between EU countries for an assistance package has finally been finalized. It's a historic deal of great proportions. The compromise seems to have come in the fact that around half of the funds will be borrowed.

EU country leaders would like to project that they union is sturdy and stable, but the concession that had to be made might show otherwise. Countries that were notorious for their opposition to the deal initially had great offers made to them for their budget rebates. Essentially now, already rich northern countries that contribute little to the EU will be earning more, all over a pandemic that affected them less than the south. Just the fact that this compromise had to be made only for the deal to pass for me shows some weakness in EU's mechanisms.

Only 750 bn Euros are part of the corona recovery fund and out of that only 390 bn are outright subsidies for countries, the rest comes as loans from the EU. The biggest part of more than 1000 bn Euros is part of the budget for the next 7 years.So it will take some time for the money to be actually paid out.
And since the EU commission is raising money for the first time itself, the next generation will have to pay back these loans. Unfortunately its just another layer of debt being raised in the EU.
The good thing with utilizing lending as the union in its entirety, is having much greater bargaining power. The loan will be guaranteed by the union's so the interest rate could be very competitive. This is going to be most beneficial for the economies that have the potential of growth but had more risk investing into, like for example the south. I can see why it was an issue some of the wealthier countries pressed hard against, even managing to reduce the amount. But still it sets a good precedent for less developed countries that the north had been neglecting.
1102  Economy / Economics / Re: Business / private sector is dead on: July 22, 2020, 08:47:38 PM
It's true that much of the revenue from small businesses has been drastically cut.
The plan to save the economy has mostly so far favored large businesses to survive and thrive. Large businesses can nevertheless can survive from the mere promise of the government. They save themselves from bankruptcy by going in debt. But that's not something small businesses can do. If you earn nothing, you can't pay electricity, water, staff etc. So you have to shut down and move on. No earnings if you're closed, all the risk is in you. You can just get your government check to survive, not much more.
1103  Economy / Digital goods / Would anyone be interested in buying access to a well-subscribed subreddit? on: July 22, 2020, 05:23:52 AM
I'm a mod on some niche subreddits that have been experiencing daily growth.
The subreddits each yield a few thousand daily unique visitors and each user opens multiple links from a subreddit in a day. This is from Reddit's own stats so it must be reliable.

If you own (or want to build) a website that could feature relevant content (doesn't have to be original), then you could earn some passive income from advertising and viewership that the subreddit could direct to your site.
I could even provide you with a huge list of content (metadata like titles included) to re-host/embed so you'd never be in shortage.
If you have experience with being a web master this could be a quick site for you to build and access to a subreddit with good engagement could become a primary source of traffic (and revenue).
I know at least a couple of other Reddit users that earn their income this way for the last few years so it must be a reliable method.

I'm not a webmaster myself and have no experience with web development so I can't utilize this on my own.
I'd mostly be interested in an upfront offer but I'm open to proposals also.
1104  Economy / Speculation / Re: Bitcoin will NEVER reach it's ATH anymore. on: July 21, 2020, 11:51:50 PM
Could be true, at lest for a long period of time. But can't be true forever...
Come to think about it, bitcoin can't forever remain under its all time high unless interest in it diminishes or something. And that's something unlikely to happen given bitcoin's long history.
Power is in numbers for this coin. The more nodes, the more mining power, the more robust it is and the more value on its chain. If demand rises, its price is bound to go up. It's only a matter of when the next financial crisis hits for bitcoin to go up again IMO.
1105  Economy / Invites & Accounts / Re: How Many People Play League of Legends in 2020 on: July 21, 2020, 11:47:27 PM
I think in the west at least, interest in LoL must have gone down a bit. It used to be unmatched but now there are many alternatives for a player interested in such games, and also FPS games are on the rise again.
The season for 2018 and 2019 seem to have gotten similar and perhaps with a small decline number of (self-reported) viewers. A large number nevertheless but we aren't getting any hints about where they were from and how much of the viewership was from western countries.

It's a big user base but perhaps the majority is in china. This side says English viewership was nowhere near the total Riot reported:
https://escharts.com/tournaments/lol/2019-world-championship

And oddly enough dota and other games had bigger rewards in their tournaments. Which is just odd. Makes me thing, is riot lying?
1106  Economy / Economics / Re: EU summit: Leaders reach landmark €1.82 trillion COVID-19 recovery deal on: July 21, 2020, 11:19:01 PM
I guess borrowing really is not something we need, plus recovery is only recovery if the companies can use it very wisely and can get back on their feet, if whoever ends up with that money (not one person obviously, just in general) doesn't use it smartly, they would continue to fall. There needs to be some sort of system where we can be sure where the money goes, and that is only available if you pay it as government instead of actually giving it away.

A company can't pay workers? Pay the salary as government on companies behalf, do not give them money to pay it. A guy can't pay his bills? Pay his bills on his stead, do not give him money to pay the bills. If they do something like that, I am sure recovery in economical sense will be much better and much faster, we would be certain about where the money goes.
Well the plan to use the money supposedly will have to be approved specifically for the intended use to be growth and long term development. There can be a a veto from majority (not even complete majority) and that was specifically targeted so countries that have undermined democracy for example Poland and Hungary.

Quote
Quote
The Union's financial interests shall be protected in accordance with the general principles embedded in the Union Treaties, in particular the values of Article 2 TEU*.

The European Council underlines the importance of the protection of the Union's financial interests. The European Council underlines the importance of the respect of the rule of law.

Based on this background, a regime of conditionality to protect the budget and Next Generation EU will be introduced. In this context, the Commission will propose measures in case of breaches for adoption by the Council by qualified majority.
*Article 2: The Union is founded on the values of respect for human dignity, freedom, democracy, equality, the rule of law and respect for human rights, including the rights of persons belonging to minorities. These values are common to the Member States in a society in which pluralism, non-discrimination, tolerance, justice, solidarity and equality between women and men prevail.

Qualified majority means 55% of EU member states representing 65% of the Union's population


Hopefully though the north countries will not sabotage plans of southern ones over this... We can only wait and see.
1107  Economy / Economics / Re: COVID-19's "New Normal" is Creating Opportunities in Crypto on: July 21, 2020, 05:42:56 AM
To be perfectly honest, things seem worse for me.
The whole economy around cryptocurrency depends a lot on the regular economy for financing its everyday operations.

As a result, the money flowing into crypto must have gone down considerably also. We've gotta remember that the ongoing recession isn't also accompanied by distrust in the financial system (as it was in 2008).
Central banks could now more easily solve the issue by printing money. Retail banks aren't bound to collapse this time, deposits are still in them. Just less propensity to invest.
Therefore crypto as an instrument isn't seeing more interest because of the recession. Actually very few industries saw a benefit from the pandemic. Only those that produce related items, SOME games and live streaming. Almost no other industry is known to largely have seen increased earnings. Even most websites saw less earning because they got more traffic but fewer companies were interested to advertise.
1108  Bitcoin / Bitcoin Discussion / Re: Allegedly Coinbase prevented 1,000 customers From Sending Funds to the Hackers on: July 21, 2020, 05:24:54 AM
This is an example of how ethical address tracing can prevent loss of funds.
However, all thanks to Coinbase bragging about it, next time the scammers will know to create a new address each time.
This one simple trick that bitcoin wallets teach you about as soon as you download them... This time Coinbase was one step ahead. Probably not the next one though.  Roll Eyes
1109  Economy / Economics / EU summit: Leaders reach landmark €1.82 trillion COVID-19 recovery deal on: July 21, 2020, 05:13:03 AM
Quote
EU leaders reached a landmark €1.82 trillion COVID-19 recovery package early Tuesday morning.

It comes after days of sometimes bitter discussions over the seven year budget and recovery package which includes jointly borrowing a €750 billion recovery fund to be shared as grants and loans.
Source: https://www.euronews.com/2020/07/20/eu-summit-deadlock-see-talks-stretch-into-sunday
Alternative source: https://www.ft.com/content/713be467-ed19-4663-95ff-66f775af55cc

Long overdue deal between EU countries for an assistance package has finally been finalized. It's a historic deal of great proportions. The compromise seems to have come in the fact that around half of the funds will be borrowed.

EU country leaders would like to project that they union is sturdy and stable, but the concession that had to be made might show otherwise. Countries that were notorious for their opposition to the deal initially had great offers made to them for their budget rebates. Essentially now, already rich northern countries that contribute little to the EU will be earning more, all over a pandemic that affected them less than the south. Just the fact that this compromise had to be made only for the deal to pass for me shows some weakness in EU's mechanisms.
1110  Economy / Gambling discussion / Re: Will There Comes A Time That All Online Gambling Sites Are CryptoCurrency Based? on: July 21, 2020, 04:40:23 AM
I think sooner or later most of the gambling and betting sites will start accepting bitcoin and crypto in general in one way or another.
Perhaps the biggest providers wouldn't want to carry much of the risk and would rather utilize a third party solution to simply give them a balance in FIAT after commission. Some of the bigger betting sites do this by using neteller from what I know. I could definitely see more sites doing it in the future.
1111  Economy / Gambling / Re: bustabit – The original crash game on: July 21, 2020, 04:11:35 AM
Yeah, moneypot! That was definitely the one that I was talking about. I even used that place for wallet for a looong time as well, I just invested everything I had in there and withdrawn only when I needed money, that way I thought it could have made a lot of profit.

Obviously it got so much money invested in it that at one point it got hacked or abused or whatever and people lost countless amount of bitcoin, which basically started their demise and it ended pretty quickly, they worked on V2 or whatever to get it going again but as long as there is no interest towards it, there was no way it could have made any profit neither.

It was pretty awesome when Rhavar had it, it became the biggest talking point in all of casino world in crypto and after he sold it, it became not so well over time.
Moneypot was actually the original game of the crash game. Its inventor, Eric, had sold it to Ryan afaik

Original thread is here.
It's an interesting history for a casino.

Here's the auction thread, where moneypot (the original site with the crash game), was sold. Eric quoted saying the biggest bid was 100 BTC, in 2014... Shocked
So interesting that this is all out in the open.
1112  Economy / Reputation / Re: Red trusted casino promotes services under new account on: July 20, 2020, 04:19:36 AM
The PF system is working 100% and the server seed does not change anymore.

Well, ignoring my earlier concerns -- it's not. Your system is asking people to commit to a client seed before you commit to a server-seed.
Welp, ok... I was willing to at least look into the site after the issues were supposedly fixed, but now it feels pointless. Seems like I won't be re-considering anything.

They were openly scamming people, and most likely still are (just yesterday someone reported getting 84 losses in a row when trying to get 2x, which is for all intents and purposes impossible (1 in 0.505^84) if the site was legitimate.
Anyone have a link to this thread? It's fitting to have it here too IMO.
1113  Economy / Trading Discussion / Re: Is there any way to out of this insecurity? on: July 19, 2020, 11:59:07 PM
If you merely use exchanges to buy and sell, and not keep your coins there for indefinite periods of time, then I think you're not exposed to much risk.
Don't use exchange as a bank, just use it for its utility. Then you can store funds in your own cold wallet for example and have the security of being your own bank.
Exchanges are sadly or not the best way to acquire bitcoin in terms of market price, and are especially necessary if one wants to buy large amounts of BTC at a time. But until we get fully decentralized exchanges, we can't have an exchange whose wallet client is also fully trustless, much like bitcoin always was.
1114  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: How important is decentralisation to you? on: July 19, 2020, 11:55:51 PM
In terms of gambling, I don't think it's that important.
The quality of service and long term reliance are seen as more important by most players. To be able to play conveniently without having to deal with on-chain transactions and delays every time to roll is seen as a greater achievement. Perhaps my only concern would be long term deposits. If you are an investor for example, I'd much rather see a trustless solution for storing my funds. For example multi sig and potentially an eponymous custodian holding part of the key. This way casinos are less likely to run with the funds for example. Multisig can be done without decentralization too. The payment method is aldeady decentralized. Not everything in the operations of the web also needs to be.
1115  Alternate cryptocurrencies / Altcoin Discussion / Re: New normal world will make crypto better on: July 19, 2020, 11:49:22 PM
Popular Cryptos are doing better than traditional investment. Whole crypto market is doing improvement during covid pandemic where traditional businesses are suffering a lot. So large companies, banks found crypto as better field of investment and thereby most of the giants have separate arms to handle crypto assets. They are adding cryptos mainly btc, eth, defi into investment portfolio. Good days are coming if we survive through Covid19
I don't think that you can simply compare crypto to traditional investments and say it's doing better over such an abstract time frame...
It's not that easy. You have to define the time frame and be more specific on the terms you define better with...

Even in terms of the recent economic crisis. Stock markets haven't plunged, believe it or not. The federal government promised to increase its budget to save companies and essentially the stock market survived so far without a crash. Lots of volatility and some losers, but many gainers too. BTC has meanwhile been stuck around 10k USD and altcoins haven't had that good of a year. So no, I wouldn't say that crypto as an investment has proved itself to be better. It's not that of a great comparison in the first place but the point in the OP is contrary to reality too.
1116  Other / Meta / Re: AI writing messages on Bitcointalk.org on: July 19, 2020, 08:41:18 PM
I think the amount of effort and vetting one would require to program GPT-3 to post on bitcointalk wold be substantial. Not a ton of work, but still, if someone possess such advanced knowledge of these professions, they'd have much more lucrative endeavors to attend to other than trolling the forum with AI generated posts. There's not much to gain from this other than perhaps portraying it as a silly social experiment. Which again wouldn't be taken all that seriously, as there are better potential applications, without questionable ethics.
1117  Other / Beginners & Help / Re: Reason for Bullish and bearish in BTC on: July 19, 2020, 08:26:43 PM
I don't know if you would call the current market condition bearish.
But what's for sure is that there has been substantial resistance for the price to rise above current price levels, especially on the 10.000$ price level. My take is that the previous dips, as well as bag holders from past highs, are mounting to create selling pressure that keeps pricers from rising further. And also the global pandemic and inevitable economic recession has made it so there's reduced demand. So a rally couldn't be driven to cause an uptick in prices.
1118  Economy / Reputation / Re: Red trusted casino promotes services under new account on: July 19, 2020, 06:53:10 PM
I am glad to see there was effort put into improving the system for rpovable fairness on the site.
I will look into it and consider revising my rating accordingly. In my view a second chance to avoid stigma should be afforde dto be ventures in the space. Hopefully things stay fair under the new wsstem.
1119  Bitcoin / Armory / Re: Can Bitcoin core/Armory be run on an external drive? on: July 18, 2020, 10:22:39 PM
This is more of a question about your OS and hardware other than armory in specific. A full node needs to write the blockchain to a drive that your computer recognizes.
So long as your computer can recognize your drive you could do anything with it.

It doesn't matter if the drive is in or out of the box for that matter (external vs. internal). Just set the wallet to store the blockchain there and have have connected before starting your client.
1120  Bitcoin / Bitcoin Discussion / Re: NEWEST Bitcoin rap - Just released "Buy Bitcoin" - (NFA) on: July 18, 2020, 03:47:34 PM
Very nice song OP.

I don't know if anyone here remembers, back in bitcoin's earlier days a rapper called Zhou Tongued was writing covers that were popular in the mids of the bitcoin community.
Here's an example:
Zhou Tonged - Cyprus Anthem (cover of Swedish House Mafia - Don't You Worry Child)

There also were a few others which I can't remember now. Perhaps some other old users here might help remember.
Perhaps you should make a bitcoin musician ensemble.  Wink
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