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821  Economy / Economics / Re: Possible solution for economic go-slow on: July 03, 2020, 09:36:46 PM
The British people were surveyed recently and they support the creation of a four day working week. However they also believe they should be paid exactly the same. Funny that.

The things that needed at present more than anything are foresight and delayed gratification and there hasn't been a great deal of anything.

Governments should realise supporting an industry today for longer than they wish to means the industry survives forever. If they don't then it dies forever.

If Donald had been capable of looking beyond today's news headlines and election prospects he would've formulated a coherent response to the virus that won't bite him on the arse when the bill arrives.


822  Other / Archival / Re: Bank of Japan has announced it will begin experimenting with a digital currency. on: July 03, 2020, 09:16:28 PM
A push for digital currency will arguably only accelerate Bitcoin's adoption.

Not really. Most currencies already are 98% digital or more.

The only place where it will make people think is how nightmarish a fully controllable currency will turn out to be. The current set up is a weird mash up of new and old. One that can be surveilled, blocked, rescinded, inflated, bailed in or out and more with nowhere to escape to is going to be a rude wake up call.
823  Economy / Trading Discussion / Re: Is there a correlation between price and major wallet upgrades? on: July 03, 2020, 08:34:00 PM
The people who decide the price of these things, the traders, probably never touch a 'real' wallet in their entire lives. Their coins remain on exchanges. I'd be impressed if 10% had any awareness of a wallet upgrade.

It's forks that sometimes inspire a pump, often with the wrongheaded assumption there'll be an airdrop. No one cares about wallets.
824  Economy / Trading Discussion / Re: I wish there was an option to invest in multiple coins via one purchase on: July 03, 2020, 08:14:25 PM
I can't quite see a boom happening just because you're saving people a couple of extra clicks. And I'd rather be making my own bad shitcoin choices rather than have them made for me.

Automated and timed buys do seem to be relatively thin on the ground and that may well be helpful for people.
825  Bitcoin / Bitcoin Discussion / Re: BITCOIN TRUST PROBLEMS: Bitcoin Investers will want to know about this risk... on: July 03, 2020, 04:33:08 PM
I can't be arsed to read your post but it probably involves some dribbling about our delusion and telling people to 'wake up'.

Bless yer wee heart. Go out and get some air in the lovely countryside.

Nothing you say is going to change minds here unless you put your own mind to work with some compelling thoughts of your own. And it still won't work. We're too far gone.
826  Bitcoin / Legal / Re: Russian Court: Theft Of 100 BTC Isn’t A Crime Because Bitcoin Isn’t Property on: July 03, 2020, 04:23:55 PM
Yobit? Yeah i know... i avoid it at all costs, but surely there are even more sketchy ones in there. No wonder they aren't interested in KYC or anything like that.

I'm sure there are Russian owned and operated exchanges. If they're sensible they would not be running them in Russia. Then again this might act as a wonderful incentive to bring some 'business' home.

Yobit is an eternal mystery. They've probably leased a secret Mir and hide in space.
827  Bitcoin / Legal / Re: Russian Court: Theft Of 100 BTC Isn’t A Crime Because Bitcoin Isn’t Property on: July 03, 2020, 03:53:46 PM
So, does this mean that all bitcoin/crypto exchanges in Russia can now just exit scam and steal all bitcoins without having any legal ramifications?

Are there any exchanges in Russia at all? Considering the government's pathetic wavering it's not something I'd put any money in. There was of course BTC-e which did not end well.

"the Russian criminal court" is a pretty weird turn of phrase. It may be a regional court and this was a one off decision. If I were the victim I'd be looking for a definitive answer from the highest court I could get heard in.
828  Bitcoin / Press / Re: [2020-07-02] New FCA Survey Confirms 2.6 Million Britons Have Dabbled in Bitcoin on: July 03, 2020, 12:32:38 PM
Respectively, I'm not sure I follow. I've been thinking Brexit and COVID would push utilization of bitcoin given that folks are looking to be more remote and contactless.

However, I think you may be thinking that if folks are "hurting," then their ability to "invest" in bitcoin may not be there... is that you're point?

Yes. No one gives a shit about remote and contactless if they're starving to death. And everyone already has contactless cards that work just fine.

I don't expect the diseasiness to help Bitcoin's usage or adoption. There'll be many people who otherwise would've considered having a play who won't be inclined to due to necessity. It's not the end of the world but it's a hindrance.
829  Bitcoin / Bitcoin Discussion / Re: Bitcoin's Current Price Impacted By Miners? on: July 03, 2020, 12:26:57 PM
Yes, the sell pressure they're giving the markets surely dropped significantly due to the quite recent halving, but that's still 900 bitcoin being generated per day. While that amount being sold per day wouldn't necessarily like crash the markets(assuming actually all 900 are being sold), it still has a relevant amount of sell pressure especially noting that this is an everyday occurrence.

OTC is only growing just as the amount of coins being made is going down. I presume all the talk of Grayscale buying every coin mined can be picked apart easily, but there's no shortage of other players.

Miner dumping was no doubt a prime factor in 2011/12/13 and beyond. If you're a miner who has to dump on an exchange by this point you're doing it wrong or are socially maladjusted and are too frightened to contact anyone to sell directly.
830  Economy / Economics / Re: The positive impact ~ on: July 03, 2020, 09:35:23 AM
The simple explanation is that bad events are more important for our survival, while the good ones not so much. If we don't learn our lessons (read, quickly forget about troubling experiences), we risk getting into the same situation again and again. Put differently, the natural selection has efficiently got rid of those enjoying excessive amounts of optimism. So, in a sense, we are all innate pessimists

Now the mucky business of actual survival is largely solved we need to start evolving the other way otherwise pessimism will kill us with hopelessness and division.

I've gradually stopped caring about anything beyond my control and this year has certainly helped accelerate that. Cutting the media out of your life entirely probably does more for your well being than running five miles a day.
831  Bitcoin / Press / Re: [2020-07-02] New FCA Survey Confirms 2.6 Million Britons Have Dabbled in Bitcoin on: July 03, 2020, 09:02:08 AM
The real stats we need to see would be crypto related apps from the UK app stores. That's one of the few metrics that would give a real clue but even then there's a world of difference between a download becoming a buy.


"The Brexit has entered a new stage, which may explain a thing or two. Combined with the COVID-19 pandemic and its impact on personal finances, the choice for Bitcoin may have become a lot more appealing."

I think they've got that one arse backwards.
832  Economy / Service Discussion / Re: Cryptotalk Future on: July 03, 2020, 08:54:29 AM
Or they keep the place running so as promote their pump and dump projects,

That's what anyone would think until you start reading and realise everyone there is broke as fuck.

They have created a totally pointless cul de sac and echo chamber. You can't promote anything to people with no money. People with money will never, ever go there as there's nothing to see other than gibberish.

You could spend 12 hours there and never find one single piece of coherent information.
833  Economy / Economics / Re: How to save money and beat up inflation rate? Options please! on: July 03, 2020, 08:47:06 AM
The monthly payments accumulated will be 10-15 years with more or less 10-20% returns from the accumulated savings being made.

That's an absolutely mediocre 'deal'. I can't believe anyone would offer that to someone without expecting a punch in the face in return. 1 year at 1% is just about tolerable if you can't find anything else, beyond that it's an insult.

If Bitcoin survives the next few years then I'd be staggered if it didn't beat inflation by a vast amount and it's not as if you have to put everything into it.

You'll get more focused thoughts on conventional options if you tell us what country you're in.
834  Other / Beginners & Help / Re: Stablecoins on: July 02, 2020, 11:16:19 PM
You're creating an exchange any time you offer any type of trade. It doesn't matter where it takes place.

Why would anyone trust a coin magicked up out of thin air by a total unknown? The stablecoins that have accountable heavyweights backing them and real backing are toxic enough.
835  Bitcoin / Legal / Re: Russian Court: Theft Of 100 BTC Isn’t A Crime Because Bitcoin Isn’t Property on: July 02, 2020, 06:31:06 PM
How about every Russian starts stealing iTunes gift card codes or bank card numbers and then cite case law to claim that it wasn't theft?

Isn't that what many do already anyway? Russia has to be one of the world capitals of online theft and general mischief. And it's not as if they would ever extradite anyone under any circumstances for anything.
836  Bitcoin / Bitcoin Discussion / Re: Opinion: 2020 Rise of Crypto Travel - Bitcoin & Altcoin Expansion? on: July 02, 2020, 06:09:34 PM
Merchant adoption has been slowly contracting since it peaked many years ago. There's nothing on the horizon to indicate that's changing any time soon. There've been plenty of travel options that have been and gone.

No one wants to spend it. It's a shame as I would like more options but for most people why would they spend BTC on a sandwich or taxi when it's potentially worth more in future?

And in areas with first world banking you have fee free cards that let you spend in the local currency without extra cost.
837  Bitcoin / Legal / Re: Russian Court: Theft Of 100 BTC Isn’t A Crime Because Bitcoin Isn’t Property on: July 02, 2020, 05:26:37 PM
I see it more like a "if legally we don't know what it is and what's its value, it's not considered property (hence there's no theft)".

If I have a sculpture made out of celebrity eyelashes stolen then I would expect that to be prosecuted despite it being a whole lot more obscure, completely unregulated and hard to value.

There are countless places where the value can be checked and countless places where it can bought and sold. It's no more or less tangible than any other piece of electronic value like a stock or a bank account balance.

I'll guess the judge was probably drunk. Or not even present.
838  Bitcoin / Bitcoin Discussion / Re: Yes, there is a strip club that accepts bitcoin. on: July 02, 2020, 05:19:08 PM
They could shave a QR code in their pubic hair.

I would favour sticking one of these up their arseholes



With the agreement that they keep it up there for the rest of the night. Watching them attempting to dance would be almost worth the price of giving my future away for a derisory, fleeting thrill.
839  Bitcoin / Bitcoin Discussion / Re: Jeff Bezos and Bitcoin on: July 02, 2020, 05:14:42 PM
Jeff Bezos could really own every bitcoin with that huge amount of money

He has a huge amount of wealth, a lot of that isn't going to be money. If he did start attempting to convert everything he has into cash he'd find he wound up with rather less than the headline figures everyone throws around.

Since he's already sitting on a machine designed to take over the world his interest in something like BTC will hover somewhere around - zilch.
840  Bitcoin / Bitcoin Discussion / Re: Indian government Banning Cryptocurrencies? on: July 02, 2020, 12:04:09 PM
Restrictions only stimulate curiosity of human and people who are living in crypto-restricted or banned countries will spend more time to find out about bitcoin and crypto. When they have needs, they will do spend time to search, and learn about what they are looking for.

I've often seen people claim that restricting it will be 'good for Bitcoin' but that seems ludicrous to me. People will seek out drugs no matter what their legal status. It doesn't work for something that's designed for utility.

It won't stop those who were going to get into BTC anyway. It will stop the majority who otherwise would've had a dabble.
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