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1181  Economy / Economics / Re: The Rise of GPT AI. Crypto is at risk? on: February 20, 2023, 09:31:01 PM
Over the recent years, technology has improved leaps and bounds, and one notable development is the rise of GPT AI, an artificial intelligence that allows machine to interact with humans in a more natural and conversational way. We cannot ignore the fact that it lessens the amount of work needed in some areas in our economy and society, thanks to the advancements of machine learning, natural language processing and deep learning, as a result GPT AI has become a powerful tool for businesses. Although we could say it gives us benefit, we can't still be so sure with the risks involved that maybe can outweighed or may potentially ruin the economy.

"GPT AI has also been used to develop trading bots that can automatically execute trades based on pre-programmed rules and conditions. These bots can monitor the market 24/7 and make trades based on real-time data, which can lead to more profitable trades and reduced risk."

Based on that statement alone, we can conclude that there will be potential risks such as trading bots that could manipulate the market which could lead to significant losses.

How about you, what are your thoughts regarding this one?

There is zero risk for Bitcoin from using AI trading bots. But it can be really bad for the people using them:
1) AI is prone to mistakes. A bug can make it do something stupid which can lead to you losing your funds.
2) AI can be mislead by other trading bots, it can create fake trends etc which can be abused by human traders
3) AI can be hijacked by a hacker and you never know what an army or zombie bots can do.
etc etc etc

But as a result, AI users not crypto will be the victims of this behavior.  Cool

P.S. And yes, using ChatGPT mentioned by many in this thread is a particularly horrible idea. ChatGPT is a chat bot, not a trading bot. Using it for trading is the shortest way to getting rekt.
1182  Economy / Gambling discussion / Re: Tennis League All Thread on: February 19, 2023, 09:14:13 PM
Well, this certainly aged well:  Grin

Quote from: serveria.com
My bet would be on Medvedev. He has recovered after a series of bitter losses and is now stronger and hungrier than before (just like Swiatek in WTA now). He also has more big tournament and final experience than Jannik.  Cool

Anyway, it was an interesting, very intense match. Sinner deserved to win, he was very close.

I wouldnt say Sinner was unstable, he was actually quite stable in his mentality as was
Medvedev actually.

The match for me was actually closer than the second and third sets suggest, Sinner
in the end had far too many unforced errors which I am putting down to the long rallies,
medvedev is comfortable enough hitting baseline exchanges, sinner was too but
they took their toll on him in the end.

Great match all the same, I didnt bet on either.

I think Sinner just ran out of gas in the 3rd. Too many close calls right outside the line. He needs to work on his fitness. 1st set both played at crazy pace but Medvedev turned out to have more stamina.

1183  Economy / Economics / Re: No petrol/diesel car sales by 2035/ Reality or dream? on: February 19, 2023, 06:31:27 PM
There is nothing fantastic about this idea. In Norway, for example, now 4 out of 5 cars sold are electric cars. And from 2025 they plan to completely stop selling private cars with internal combustion engines.
~snip~

Countries like Norway or Sweden are exceptions if we consider other parts of Europe, because they have long since overcome some basic obstacles and due to their natural resources and high standard of living, they can afford to reach some goals much earlier than everyone else. Some data say that in Denmark even 70% of people use bicycles or public transport, and they are not even interested in the state's generous incentives when it comes to buying electric vehicles.



Another important point that we may not have mentioned is that the ban on production vehicles with internal combustion does not mean that everyone will suddenly switch to electric vehicles or some other alternative - all those who own old vehicles should continue to use them as long as they want to - or until the government decided to close all gas stations.


You have noticed a very subtle nuance! Indeed, in these countries, approaches to life, the concept of values is very different from the classical behavior of people living for the sake of "accumulation" and visible wealth. Therefore, the value of the car in these countries has decreased. Many people refuse to become a full-fledged owner due to the lack of a constant need. A lot of people use car-sharing and other convenient services that do not burden wallets. Of course, there will be a layer for which a car is an opportunity to show "its advantages" and "its status".

But I think that in today's situation, Russia has staged an oil and gas terror in Europe, will only accelerate the process of Europeans switching to cars that are less dependent on "fuel for the implementation of political complexes and grievances." Whatever one may say, oil will rise in price in the future - its reserves are not unlimited, and the development of new fields is becoming more and more difficult and expensive. Therefore, the transition to at least hybrids and then to full-fledged electric cars is already in the near future. Yes, with the exception of economically and technologically backward countries with underdeveloped economies, where buying and owning an electric car will be very expensive and difficult

I'm quite skeptical regarding this "You'll own nothing, and you'll be happy" lifestyle. For many needs car-sharing is not very convenient and is too expensive. As to the energy, I'm sure you know we're still burning coal and natural gas to produce it. We already have electricity shortage in many regions. Building more charging stations and selling more EVs will make things much worse.
1184  Economy / Economics / Re: No petrol/diesel car sales by 2035/ Reality or dream? on: February 19, 2023, 09:23:15 AM
Many governments are moving to push hard to reduce sales of diesel and petrol cars, the European Parliament has officially approved a law banning the sale of new petrol and diesel cars in the EU from 2035

Quote
The landmark law will require carmakers to cut down CO2 emissions by 100 percent.
The 100 percent cut in CO2 emissions from new cars sold would make it impossible to sell petrol or diesel-powered cars in the 27-country bloc. The law that comes into effect in phases that will require a 55 percent cut in CO2 emissions for new cars starting 2030, which is a much higher target in comparison to the current 37.5 percent.

Source ---> https://timesofindia.indiatimes.com/auto/electric-cars/no-petrol/diesel-car-sales-by-2035-european-parliament-approves-ban/articleshow/97939363.cms

Some reports indicate that the costs of running an electric car are actually lower than the costs of running a car with an internal combustion engine.
So, will this goal be achieved by the year 2035? Will the cars be more efficient and at a good price compared to current prices, or is it a policy that may take decades?

Please pay attention, the EU law bans the sale of new petrol and diesel cars not the use of existing cars (also no mentions of import?). So, theoretically,  you could buy a new car on December 31, 2034 and drive it for another 5-10years. So, there's a chance we'll see 70-80% EV share in EU in some 20-30 years most probably. Will the sale of petrol cars stop in 2035? Most probably yes. Will petrol cars disappear from roads by 2035? Definitely no.

And to answer your other question: yes, I think electric cars will become more efficient and cheap than now.  Cool
1185  Economy / Speculation / Re: Can Bitcoin be trusted? on: February 18, 2023, 09:21:26 AM
Bitcoin have suffered 2 huge crashes at 2018 and 2021, it's really wrong if you're saying Bitcoin will never crash, I believe we will suffer another crash in the future. Bitcoin could crash, but the point is Bitcoin can survive and recover from the crashes, not like majority of shitcoins were it will become dead coins due to no demand.

Introducing someone about a subject where you're not completely understand is really a big mistake.

Actually, you forgot 2013/14 and the notorious MtGox crash. Bitcoin is going in cycles and we're currently at the bottom of current cycle (best time to invest). Bitcoin is going to peak around September 2024, reaching $100k+. Every crash is just marking a new beginning, new cycle.  Cool
1186  Economy / Gambling discussion / Re: Tennis League All Thread on: February 18, 2023, 08:59:10 AM
finally Sinner is showing a minimum of continuity in his results and against Tsitsipas, it was not so easy to predict a victory with this effort... who knows if Sinner will be able to reach the final again

I've only seen part of the first set. No idea how it stands now but the first et was a big punishment for Wrawrinka who only won 1 game in the first set. It's bound to be an easy win for the tall Sinner. He can certainly make it to the final, but I suspect it won't be easy. He still faces quite a bit of resistance. Medvedev is also still in the tournament. We also see the Greek track against Gijs Brouwer in another quarterfinal, which I had not added to my list. We now have to wait for the next Grand Slam in the summer, a pity that there is always so much time in a year.

Sinner got the job done in 2 sets and a bit over an hour. A fairly straight forward match
really, 6-1 in the first set, Stan made a bit of a bigger challenge in the first half of
the second set but Jannik was stronger, he has definitely carried that focus and momentum
from yesterdays win against Tsitsipas, he just needs to keep carrying it to the final.

He really is looking like a contender for the title based on those two matches.

Both Medvedev and Sinner have easy matches for the final especially Sinner that can win easily. Still want that final between Medvedev and Sinner and i think we are really close to see and epic match betweem these two players. But Medvedev plays against Dimitrov so it wont be that easy

Yea both should win today to set up a final.

The final itself if and when Medvedev/Sinner meet should be epic eventhough
as Trofo points out the 4/0 H2H, I believe it might start to change in Sinners favour.

Medvedev is building and from match to match we can see his confidence growing.
Sinner has reached a new level and unlike in the past he seems to be able to maintain
his professionalism, mentality, focus and high intensity. Will it be enough to potentially
beat Medvedev?

Todays matches will reveal a bit more, in theory bothvshould win in 2 sets.

My bet would be on Medvedev. He has recovered after a series of bitter losses and is now stronger and hungrier than before (just like Swiatek in WTA now). He also has more big tournament and final experience than Jannik.  Cool
1187  Bitcoin / Bitcoin Discussion / Re: Withdrawing Bitcoin off the radar on: February 18, 2023, 08:52:44 AM
Believe me, spending 500EUR banknotes is the smallest issue you're going to face. There are so many ways to exchange it to smaller banknotes including deposit ATMs, bank branches etc.
That must depend on your country. Here, even 100 euro bills are often refused. I don't think banks will exchange them either, they don't earn from it and many banks here don't even have a cash register anymore.

Quote
Large cash purchases is also not a problem. There are sellers and companies ready to do everything to make some profit. You can buy a $100k car with cash for example without an issue. The dealer will think of a way to do this. You certainly need to do research in which countries it's possible, in some countries you can get in trouble!  Cool
Even if you find a car dealer who sells you the car, it needs to be registered, which means you can get questions about it later. And if the money didn't come from a clear source, you can't explain how you paid for it.
This reminds me: Al Capone got caught on tax fraud. You may get away with it, but I wouldn't be comfortable taking the risk.

Impossible. Euro is legal tender in the EU. The only reason they can refuse is because they have no smaller bills handy or some other technical reason. Otherwise, they're breaking the law and you can report them.

Regarding vehicles, yes you need registration. What many people do to "optimize" taxes is register it under your company/business (if you own one). If you live in the Netherlands for example, you can register a business in Belgium etc (not sure about these exact countries just mentioning them as an example). There are so many tricks allowing to circumvent the laws we can't even imagine.  Grin
1188  Bitcoin / Bitcoin Discussion / Re: Withdrawing Bitcoin off the radar on: February 17, 2023, 08:35:15 PM
how are you going to carry all that cash around? Let's assume you withdraw even $50,000. It will have to be declared when you leave the country.

If we think about 50.000 euros, it means 100 banknotes in denomination of of 500 euros. And yes, this amount should be declared when leaving the country. But if we only think about how to carry this amount, it's not too difficult to carry 100 banknotes, is it? They can easily fit inside a pocket.

My point was that you will most likely be questioned by authorities on the source of those funds and you'd have to admit that they were cashed out from cryptocurrency holdings or risk an arrest, or seizure of those funds.

Admitting that will of course lead to even more questions on where did you obtain the crypto from, since police deal with a ton of scammers that have a modulus operandi like that.
The distribution of €500 has stopped, but even if it hadn't, spending such a large amount is almost impossible. I remember having trouble even at the gas station, which handles quite a lot of money daily. Smaller notes, such as €50 or €100 ones, would be more preferable. Bringing a ton of cash through the airport is impossible without going through customs declaration; that's why GazetaBitcoin mentioned splitting the money into a few trips. On the other hand, having a decent amount of undeclared cash doesn't help at all, because you can't actually use them for large cash purchases.

Why do you think you will be questioned if you'll have this cash in your wallet? We're not talking about a suitcase full of money like they show it in movies, but a bunch of 500EUR banknotes in your wallet. Besides, you can rent a car and drive home and avoid all these security checks, customs etc.

Believe me, spending 500EUR banknotes is the smallest issue you're going to face. There are so many ways to exchange it to smaller banknotes including deposit ATMs, bank branches etc.

Large cash purchases is also not a problem. There are sellers and companies ready to do everything to make some profit. You can buy a $100k car with cash for example without an issue. The dealer will think of a way to do this. You certainly need to do research in which countries it's possible, in some countries you can get in trouble!  Cool
1189  Bitcoin / Bitcoin Technical Support / Re: Stuck transaction on: February 17, 2023, 07:43:56 PM
Don't worry these low-fee 1sat/byte transactions get confirmed eventually you'll just have to wait.

This isn't accurate. Most node have 300MB mempool size limit (after transaction is deserialized) and currently unconfirmed transaction already surpass the default limit. If you bother visit https://mempool.space/, currently it purge all transaction with fee rate < 1.08 sat/vB from the mempool.

Well, my only source is my experience. And so far every single tx with 1sat/byte fee has been processed eventually just like I mentioned before. Disclaimer: I don't send/receive Bitcoin every single day so perhaps there are periods of time when it won't work. But I've been lucky so far.  Grin
1190  Bitcoin / Bitcoin Discussion / Re: Tainted coins on: February 17, 2023, 07:31:25 PM
I think Bitcoin has a big problem with tainted coins and the demand to be a store of value.

My example:

X gets 1 BTC through a criminal act. X is trading something for 1 BTC with Y. The Police is blacklisting the 1 BTC and confiscated the 1 BTC from Y.

This is a 100 percent loss of value for Y.

Then the FBI is selling the 1 BTC, often under value. This is an overall decreasing of value for Bitcoin.

Is there a possibility to protect user like Y for such a loss of value? And how do we protect the community from an overall loss of value?

Another example:

Y gets 1 BTC through a criminal act. The police is blacklisting the 1 BTC. So for X the 1 BTC is less worth than a normal 1 BTC. So there is a second market for Bitcoin's tainted coins, where the "tainted" BTC is less worth than the normal BTC. If somebody has a trick to wash it, isn't it draining value out of the ecosystem, too?

And one additional question: Is it legal to get the transaction fees of illegal transactions?

Frankly, I don't think tainted coins can be a problem. I'm in Bitcoin for 12+ years and I haven't met or heard/read of someone who was affected by this issue. Which makes me think these cases are incredibly rare. And here I want to ask you: did something like this happen to you? Your friends or relatives? Probably not. I guess, in most cases, coins get blocked/seized before they reach user marked Y in your scenario. This is true mostly to big amounts of Bitcoin. Yes, there are also some petty thefts/crimes which never get reported and therefore nobody marks them tainted. Just my 2c.
1191  Economy / Economics / Re: They still think crypto is easy to manipulate? - CEO Crunchbase on: February 17, 2023, 04:56:58 PM
Bitcoin is still a speculative market, nothing more and there is no regulation on it yet so manipulation is what is happening. You would be naive to assume that decentralized bitcoin cannot be manipulated. Remember what Elon did in 2021, just one of his tweets was enough to make the market move, let alone spend money to manipulate it. No asset class is dependent on supply and demand that can fluctuate several tens of percent in a day.

Well, Bitcoin is growing more and more mature every year. Musk tweeted some bs later and it didn't work - Bitcoin didn't react. In 2017 mailmen and grannies selling caused Bitcoin to dump and end it's cycle. Do you think it could be possible today?  Grin
1192  Other / Archival / Re: Bitcoin vs. Inflation on: February 17, 2023, 09:57:31 AM
Interesting observation but I can't think of a reason why it is so. Bitcoin was designed to tackle inflation, it's actually a safe haven against inflation, so why not people invest more in Bitcoin during heaviest inflation periods? Very weird.  Huh
1193  Economy / Gambling / Re: What else should an established crypto casino add? on: February 17, 2023, 09:50:27 AM
Actually stake.com always provides information about bonuses and promotions at any time on the official telegram group, but if on the first page of the stake site I rarely see this information because we search and see for ourselves on the promotion and bonus room pages to be able to find out all the information about the latest bonuses and promotions.
Maybe what you said and suggested is quite good if indeed stake adds a bot feature like that so that it can help or make it easier for all loyal users and customers to stake if they launch attractive and newest bonuses or promotions.
If this feature is added, it can also make it easier for the team's work in it to provide information about what will happen to stake.
I don't understand why notification bots have to be added, they already have bonus links and promotions on the website and there is already an official telegram group, so why is a notification bot needed to provide the same information, but if users want that feature then the team should consider releasing the notification feature because they want to get notifications of important information because they don't access information from the Telegram group.

I have no idea why people want to see notification bot specifically for bonus and promotion while the casino provide promotion page already, telegram channel, and dedicated forum. I dont think it is really needed, at least I have never seen any casino with such feature. It means that most real gamblers do not need it much. One more thing, notification for all bonuses/promotions can be something annoying for some people especially if there is no feature to filter what kind of promotions/bonuses they want to be notified.

I also see no real value in such a bot/notification system. I'm pretty sure many casinos have some kind of newsletter or similar spam subscriptions but nowadays people are so sick and tired of spam emails and messages they receive on a daily basis that they may become aggravated and ignore the casino which sends them.  Grin
1194  Economy / Economics / Re: They still think crypto is easy to manipulate? - CEO Crunchbase on: February 16, 2023, 08:22:16 PM
Quote
investing in crypto is "more risky" than buying penny stocks

Dude is 100% correct here: crypto! Please note: he mentions crypto (shitcoins), not Bitcoin and I could agree with that.

As to the ability to manipulate Bitcoin, maybe he's also partially right: it can be done, but will be more problematic than manipulating any stock. Why? In order to dump coins, one must have coins. So you'll have to buy a boatload of Bitcoin and there is a possibility that scarcity will kick in and you won't like the price at some moment as more Bitcoiners will want to sell at a higher price or not sell at all. Amount of bitcoins on exchanges is also limited. Easier said than done.  Cool
1195  Economy / Gambling discussion / Re: Tennis League All Thread on: February 16, 2023, 07:57:00 PM
Any tips on a WTA tournament in Doha? Some interesting matches today: Koudermetova defeated Gauff (I was sure Coco was to win this one), Bencic withdrew against Swiatek, Pegula won against Haddad Maia which was totally expected. Garcia - Sakkari is still under way and Maria won the first set I guess?

Any tips for the semis?  Cool
1196  Bitcoin / Bitcoin Discussion / Re: Anyone else getting deflated with the bitcoin naysayers? on: February 16, 2023, 07:42:42 PM
One of the most difficult tasks or challenges I've had is openly discussing the multitudes of positives that bitcoin has, with others that are skeptics.

I've been studying/reading/buying bitcoin since 2016. It's the best invention I've seen in my 50 years on this planet. The ability for anyone around the world, to take custody of their own money. The ability to transact with anyone, around the world, at any given time. The open ledger (blockchain) to hold all transaction accountable (that even the US Gov doesn't have).  The limited amount (21 million). The security.  The uptime.  I could go on...

But of all the discussions I've had with co-workers, friends, and relatives about bitcoin, it seems to fall on deaf ears.  In fact, if talking to more than one person, it seems to be almost a witch-hunt on how bad of a ponzi bitcoin is, and how 'it is backed by nothing', etc.

Now I realize that this reaction comes out of either fear, ignorance, or not knowing enough about it.  But no matter how hard I try to educate someone on the positives, it falls on deaf ears with some.  And it's deflating to the core.

I've been in this space for 6-7 years.  I can't imagine how tough it must be for some of you OG's.  Do you still try to enlighten others, or do you relinquish to the fact that you aren't really gonna change someone's opinion, only they can do that?

To answer your question: no, I no longer try to educate people about Bitcoin. I tried for years but then I gave up. Last time I tried was back in something like 2019. And guess what? I failed every time. Now my pov has changed: if you're refusing to own/learn about Bitcoin you don't deserve it!

But I have to admit I haven't heard "bitcoin is a ponzi" for a while now. Mostly people are complaining they didn't invest earlier and "now it's too late". No, we're not late, we are still early and now is the time to buy. But as you put it: deaf ears haha  Grin
1197  Economy / Services / Re: [CFNP] Coinplay Crypto Sportsbook & Casino Signature Camp. |Up to 80 $BTC Reward on: February 16, 2023, 10:13:09 AM
Signature updated.
1198  Economy / Gambling discussion / Re: Tennis League All Thread on: February 16, 2023, 08:24:56 AM

Good to see Wawrinka plays more frequently again. Similar to Murray there was a relatively short phase in his career where he played outstanding tennis. Most of the other time it was a more of an up and down for him. In some games his fighting spirit was out of this world and he didn't give up a single ball. Now he is also injured more often and I guess he is trying to improve his cash balance a bit before he retires. He is going to turn 38 in March this year. It seems that after his retirement there is no other active tennis player from Switzerland in the higher ATP rankings.

Wawrinka got a couple of good years, mainly between 2014 and 2016 where he won 3 grandslams and played really great tennis. I think he more has a love for the game than that he wants to improve his cash balance as he won more than 32 million $ in prize money.

It says that he even won 35.5 million $ in prize money, but it is also a question of lifestyle. Guys like Federer don't need to worry about money ever again, but I don't know whether Wawrinka has any big sponsoring contracts like the other three guys. If you deduct all the cost for traveling and coaching and so on and so forth, 35.5 million sounds huge but it can still be spent. Wawrinka is more dependent on what he can earn now than what comes after he ends his career. Though I think that he is quite a down to earth guy but who knows.

He is still fun to watch though as he can be a strong fighter on the court. I'd like to see him advance to the next round and get a stronger opponent. Would he meet Zverev if he makes it to the next round?

$35m is huge for tennis. Take a look at WTA top 100 for example: there are players who are 26-28 years old (so slowly approaching the end of their careers) with $600-800k total earnings. I mean, you're in top 100 of your sport and you haven't even earned enough to pay your team and for your travel? That's ridiculous! So, Wawrinka with his $35m (plus probably another $35m from endorsements etc) is a very wealthy person for the sport.
1199  Economy / Trading Discussion / Re: ChatGPT and Trading on: February 16, 2023, 07:38:41 AM
Hello,
Has anyone used ChatGPT for trading?
It's called "ChatGPT", yep... Did you see the word Chat?

It's a chatbot, not a trading bot. It being an AI chatbot does not mean it should make trade decisions for you… lol. Forget about it.
If you want to learn about trading, then it might help you with some theory and that is it.

That's true. Besides, I was surprised to find out ChatGPT does make mistakes. And I wasn't even asking it for some predictions or some disputable things but plain simple basic stats and well-known facts. I corrected it providing proof and it went "oh I'm sorry for misleading you" immediately.  Grin
1200  Economy / Economics / Re: The fear of global recession is real or just a speculation? on: February 15, 2023, 07:16:21 AM
There is much discussion in both the print and electronic media regarding the probability of global recession as a consequence of ongoing war in Ukraine, but I think unlikely to happen any time soon, even if it does, it is expected to be less severe than recession in 2007, as global GDP is still growing albeit at a slow rate. The real challenges for policy makers are growing debt, climate change and increasing frequency of natural disasters, such as earthquake, hurricanes and floods, which pose significant risk to world economy. These need to be addressed by global community urgently, in order to ensure a stable and thriving economy.

I guess we're very close to recession at this point. Moreover, I think it's already happening in some countries. I'm not an expert, but from what I have seen/read many countries announced economic growth of 0.something % and some forecasts were also with negative growth.

According to me, we are already in recession, not a prediction anymore, but just the beginning of the recession, not as severe as in 2007, so many people still don't realize it. I really don't believe the government reports, from what I see it makes me feel more clear. The unemployment rate in my country is increasing every day, many people can't afford to spend for living, purchasing power is decreasing markedly. But meanwhile, the government says the economy is showing positive changes.

Yes, I agree, many governments looks frightened they won't be able to control the people anymore. After Covid limitations and lockdowns people are losing patience and bad news may fuel riots etc. So they're trying to sweep it under the rug, hoping the situation will improve next Q or next year.
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