Agree, but wages have grown even if we go by the median, at least in EE, the region I'm really familiar with since I've lived in 3 countries for more than 4 years each this century.
https://data.worldbank.org/indicator/NY.ADJ.NNTY.PC.CD?end=2021&locations=SK-CZ-HU-RO-PL-SI-HR&start=2015
You can see that most have experienced +50% growth this period.

I won't say the situation is wow, everything is fine, of course, it sucks, but it's not like we're 3x times poorer, I think we can agree it's in the low double digits.Of course, I exclude countries like Turkey, Argentina or Iran from those, with their inflation god knows what's happening there.


EE, as I said, I was born in one country and moved to another for a few years then living in another but still <200 km from my birthplace. Tour of the Visegrad! Lol! But, the thing is that when finally we got rid of communism inflation was rampant around here, we were dirt poor compared to the rest of the world, we had basically nothing, no jobs, no healthcare, no nothing, and inflation reached 200% in almost every country. and not for just a year and not just 200%. That graph is missing a lot of data, btw. So, now that we're way better compared to those times, 10% is nothing for the ones that experienced that period, it's like meh!, we had that each day for a week back then.

You're comparing different timelines.
As a guy who researched Chinese population trends for decades said, "China has become older before it has become rich"
South Korea became first rich and then started hashing fewer children, Japan did it way earlier, China right now has the GDP per capita of Korea in the 94 and Japan in the 85, on par with the Western world in the 80s. So they still need to get way richer and then have a decline a decade later, but they started shrinking their population base way before that, it simply means there is little room for expansion without cutting part of the economy and switching aggressively to others, but with that, you lose a ton of advantages and China isn't ready for that.

Also, there is a limit to what high tech or whatever technology can bring to the economy, it's a limit for every human.
For example, when you're poor you wish you would have two tvs and two cars, go in every week to a resort, and so on. You realize your dream, everyone does, where is the room for growth from that point cause you won't be driving at the same time 4 cars, you don't need 10 TVs and you can't go in every week to 10 different resorts? Neither can you drink 100 bottles of whiskey a day now even though you can afford them.
We need 8 hours of sleep, let's say work will be done by just pushing one button for 1 second, then you have 16 hours in which you consume things and you use services, but that's all, there is a physical limit in which you simply won't need more, and that's why more and more economies are slowing down their growth, it's simply impossible to generate more needs at the same pace.

A volcano is always hot, magma is always present below or penetrating the continental crust or mantle, the harnessing of the energy doesn't happen in the cone or from the vent where magma flows but from the surrounding area which is heated by the magma. It's the same basic geothermal powerplant, just add some fancy words to it.
Iceland's geothermal energy is basically the same, the heat comes from the Atlantic ridge between Nort America and Europe, but nobody calls it volcano energy, or tectonic energy, or whatever another name.

That aside, this is another publicity stunt from Bukele, remember that he already dug a 100MW two years ago? What happened to it? Crickets!
https://twitter.com/nayibbukele/status/1402714926800674827




Yeah, but Solar isn't getting as many tweets as VOLCANO!!!!
I'll trust this plan of Bukele when that damn FSRU that arrived last year and is pumping tons of LNG in the country and generating 25% of the electricity will set sail from their main port!

Well, since we have some feedback can you go on a longer period let's say 10 years, and then match in wages?
I was paying between 4 and 5 euros for a pizza after the crisis, right now it's 10-15, depending much on the location, but just looking at the minimum wage it was 300 euros in 2010 now it's ~700, so if you look at both the increases it's not really that bad anymore.

Of course that works mostly for us in Eastern Europe cause we were dirt poor and we finally managed to catch a bit with the rest of the EU.
That's why probably nobody here is actually that desperate about the current inflation, 10%, 20% 30% is nothing compared to the 90s.

It doesn't!
Bitcoin won't keep pizza from reaching $45 and then $135 if we're doing x3 or x5 or whatever, it will simply allow you in best case scenario (again, there is no guarantee for this) that the satoshi you bought for $15 will be enough to buy you a $45 pizza. Nothing more.


Before you hang politicians or anyone else, do a fair comparison.
How many pizzas could you buy with your wage then and how many can you buy with your age now?


Then why did you go to 2011, split the last 10-year period in half, and see how big the returns are, you're making 100x in the first 5 years and just 4x in the other five based on yoy numbers, it's enough for a person to go by, let's stop selling Bitcoin as a millionaire making machine.

No, but it's not big deal.
Simply we're unlucky, the fees were enough for the first block but the block didn't come in time, in the last 24h only 123 blocks have been mined 21 less than normal, and somebody dumped 40Mvb of tx in one go, so no surprise it's being pushed down.
Before block 793,255 you could get confirmations with 25vbytes, after it jumped for hours to 80.

Seen it before, just being unlucky, but as I said no big deal, it will confirm for sure during the night.

I've probably asked for a withdrawal at the same time as Ratimov, I can see a pending tx now, it's a fresh and unconfirmed one but seems like they are rolling withdrawals right now.

 

I know too well the difference between reality and how I would want things to be, I would love to see a lot of things happening differently and I'm also sure most of my dreams and hopes will never materialize, I'm beginning to lose even hope that Bitcoin will be ever used in purchasing stuff more than gold is nowadays. But this can't stop me from hating this reality! 


Mainly because exchanges are definitely on CFTC's turf since none are registered with the SEC, so the SEC deals with sales of coins or cases that involved defrauding like in the normal stock market that's why it has filed charges against the operators and not against FTX, while the CFTC has filed charges against both the exchanges and the owners.
FTX Derivatives was licensed and registered by the CFTC, not the SEC, they were the overseer and it's pretty normal they should deal with the case.

Refusing to implement LN, charging the most significant fees for BTC withdrawals and charging more for segwit than legacy, promoting shitcoins as BTC alternatives, the constant lies of CZ about being licensed in Singapore, Japan, Malta, then god knows where, his idea about reverting the chain when Binance got hacked, how he always tried to weasel his way out and have the moral high ground despite being knowledgeable about all the fuckups with his partners/friends, see the FXT drama, the fake "proof of funds", the whole #SAFU that has funds actually and is insured for less than 2% of their holdings, lies after lies after lies.


Meh, "A Peer-to-Peer Electronic Cash System", sorry but having a centralized entity dealing in control of user funds and manipulating markets is as far as possible from what Bitcoin was meant to be and as close as possible to a bank. After all, what is the difference here between trading penny stocks and shitcoins on Binance?


The SEC can't sue FTX, it has raised charges against Sam and Nishad Singh, for FTX collapse the SEC has no business there, that's the role of CFTC and this one has already filed charges against both FTX and Alameda.

First thing, this is bitcoin.org, not fiat.org so it makes no sense advertising people how to exchange from bitcoin to $, isn't it?  

Second is that accepting fiat for Bitcoins is not a problem, sending fiat to a customer is different, that's why there are a ton of one way bitcoin ATMs and just a bunch that offer both sell and buy, furthermore, even on Moonpay website, you have no option of selecting Nigeria when you want to sell, and the cherry on the cake is that to sell Bitcoins you need full KYC, I just tested it now, you need a copy of ID and all that crap, no wonder Bitcoin.org doesn't want to show this side to its visitors.


I just copied in the quote the text from their affiliate page,
https://support.moonpay.com/hc/en-gb/articles/4406209996049-How-do-affiliate-payouts-work-
"we" is always used when a company refers to itself, not it or I, so that's how they phrased it, I didn't even know of their existence till yesterday.

The ones that do know something might come as naysayers, but whatever, let's burn some pink unicorn dreams:

Starting with this:
https://www.vesselfinder.com/vessels/details/9236626

For the ones that only copy-paste Bukele's dreams and don't know or are unwilling to research stuff for just 1$ a post, that's an FSRU ship, as Salavdor imports LNG to keep its gas powerplants online, Salvador is not only an importer of gas but despite this, it still imports 25% of its electricity from its neighbors. The country has a 380 MW gas powerplant in construction to balance the load and reduce electricity imports and some of you still think it's the world's cheapest place to mine. Just lols!

Marathon was paying 2.5 cents per kwh in Montana, Riot has claimed in their financial fillings they have  2.96 cents/kwh for 2022, and some think that Salvador which is subsidizing energy and can only get as low as $0.1555 per kWh will compete with this.



Yeah, would be nice, but, it won't happen cause 99% of those that post this garbage here have no clue what they are talking about!
Let's give it a try:


Wow, sounds great!
Then can you tell us what kind of incentive miners on this forum have to move to Salvador and why the f word hasn't any of them moved there?
Can you share some of those cost benefits? Taxes, tariffs? Anything???

You can google those definitions yourself, I don't feel like copy-pasting basic definitions from wikis after you bragged about knowing them that well.

You said that money printing needs to stop before we see deflation, I told you that's not mandatory.
Here is a paper on deflation in Japan:
https://www.bis.org/publ/work188.pdf

Deflation was possible despite rates being 0 and despite the M1 growing 15 times since 1985.
/end of the debate


It's the opposite, you have described inflation, deflation brings down the value of goods which makes loans unattractive since you're borrowing now money to buy stuff that will be less expensive in a few months, so rates will go to zero or vene below in case of deflation.


It's already happening even now:
https://www.wionews.com/world/russia-does-not-know-what-to-do-with-147bn-in-rupees-it-has-amassed-599540

it's nice trying on dealing in shitcoins you can print endlessly, too bad that nobody wants your shitcoins! 

As for China's demographic bomb, it's in the making but it will take time, it needs a full generation to actually show effects, and it will begin when the ones that are right now in their 30+ will reach retirement, according to their own 2010 census, they had 127mil in the 20-24 (now these are 33-37) area only 74, 70, 75 millions in the 0-4,5-9,10-14 groups.
That's a 40 million workers gap nobody will be able to manage!

Hihi, one tweet below is another explanation, the SEC can't start a criminal investigation, it can only prosecute in civil and administrative courts, but all it takes is a notification to the DoJ for that to start a criminal one, and once the DoJ accept this from the SEC it's usually game over and plead guilty if you want to get out, as Hayes&Co did in the Bitmex case.

I don't like CZ and I don't like Binance but I don't think he's that stupid to play with fire.
He has pushed things too far and I think he thought he is invincible with all his scheming but he's in for a rude awakening.

Do you actually know what FUD is?

Bruh, he was doing interviews for Forbes!!!!
It's not about leaking identity it's about not entering unknown cars in the middle of the night!


Lol at one of the comments:


Let's add that his onfocoin turned into nothing being basically dead
https://coinranking.com/coin/8A9wGGomi+onfo-onfo
So I guess there is a lot more than hiding your identity online, I'm betting on first being not doing drug deals in the middle of the night!

I'm really surprised you don't know how these things work.

There are hundred of websites around the internet that offer you to buy or sell cryptos via their platforms but when you go one step further you will see the exchange is provided by another service. Some use white-label websites which are basically a copy of the exchange but hosted on their domain and they get % of the fees.

https://support.moonpay.com/hc/en-gb/articles/4406209996049-How-do-affiliate-payouts-work-


But at a 4.5% min. €3.99/£3.99/$3.99  fee for cards I think there are better options out there.

How nice of you, after 3 years on this forum you finally shared your knowledge with your sister.
And obviously, it's far better since this ain't one of those fantasy merit fishing stories!


That's not being a Bitcoin user!
What you have told your sister is that Bitcoin is money-making machine into which he has to pour her savings to get moar money!
Which as always will have catastrophic effects for a lot of guys going this path if we enter another bear market and not a bullish season like everyone is expecting.

I still can't wait for a topic of somebody telling their relatives about Bitcoin on how this is censorship-resistant, how it works 24/7, how nobody can ban you from using it, how it allows you to pay somebody a continent apart, how you can store it safely without anyone ever knowing and not once mentioning the price or making rain money with one quarter. But I guess that would be a surprise even for users here!

The USSR was the first country that tried it. How did it end? Well, rather than the dollar falling the USSR is no more.

What almost everyone that claims all day for the dollar to fall forgets is one thing, the dollar grew into this position because of economic power and trust, nobody is putting a gun at camping managers here to base their campaign on the $, why do they do this and not choose yuans and rubles? Why wouldn't any Indian want to be paid in a rupee equivalent or any Argentinian to be paid at a peso flat line?

Let's make a poll here and check how many of us know the current price of Bitcoin in yuans, rubles, rupee or real? Those figures will show just how much the real population is on board with the idea of dedollarization. For politicians, it's simple brag all day about nationalism and making your currency strong, getting rid of colonialism, of the bad influence of the West, it's free votes, but when you check their bank accounts they are full of dollars and euros when you check their assets it's shares in western companies and houses in Europe or North America.

Rather than the great dedollarization one should call it the great Delusion!


And then you woke up, you went to the bathroom and you threw up all that Russian propaganda that made you lose your mind. 

So, you've exposed this "scammer" by making a post on Twitter calling him a scammer?

Second, aren't you getting tired of creating accounts over accounts and stupid topics after stupid topics?
You're already at the hundred mark with those, just give it a rest, nobody cares about your gibberish accusations anymore!

The complete misconception is that an increased money supply will always trigger inflation!
Japan is the perfect example of why this doesn't happen if you don't have consumers spending that money.

Let me give you a clear example
- the government throws $1000 at everyone, every single citizen rushes to buy stuff, consumption doubles, there aren't enough products on the market so obviously prices go up as we have seen after covid, we have inflation
- the government sends $1000 but every single citizen deposits this in the bank. There is no increased consumption, there is no imbalance in the market, there is no extra demand, so there is no inflation!



Before the spike in energy prices that was Japan, they are actually welcoming this inflation right now cause they have tried to trigger one unsuccessfully for a decade, for example, the BOJ is still keeping interest rates at 0% even now.


China is deeper in debt than the US. And China can't print $.
https://www.bloomberg.com/news/articles/2023-05-08/china-s-debt-to-gdp-ratio-rises-to-record-279-7-on-credit-boom