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1801
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Economy / Economics / Re: First Republic Bank fall: fear of more others to follow.
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on: April 27, 2023, 01:50:12 PM
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I'm curious why the bank allow the depositors to withdraw $100 Billion of money? I think when the depositor want to withdraw a huge amount of money, the bank will make difficult for them to withdraw. The bank will investigating the money he have, only allow him to withdraw some portion of his total money, etc giving an excuse about any other bullshit reasons.
It doesn't feel right for the banks, maybe there's something behind that we're don't know...
Why it doesn't feel right? That's how things are supposed to be, people deposit money when they want, and people should withdraw money when they want. What's really surprising in this whole situation is that the whole panic started after someone managed to get 72 billion out of the bank without a hiccup, proving the bank had that 72 billion and not by somebody not being able to get his money out. Furthermore, the other action that triggered more panic and the price dwindling on the stock market is that they plan on liquidating close to 100 billion in assets to prepare for more withdraw and balance sheets, thus proving they still have at least another 100 billion ready. This is a bit of fucked up situation where a bank that has the money is going down while others who are probably in worse situations are watching calmly from the sure simply because their users are not that keen to cash out. Anyhow, I don't know why everyone is panicking now, the major storm was back in March when they went down from 120$ to 12$ per share. |
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1802
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Economy / Speculation / Re: The power of Bitcoin in global world
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on: April 27, 2023, 01:16:48 PM
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According to Kemper's formula: A person need a total of 0.06624605 BTC in order to guarantee wealth worth $1 million.
There is no such guarantee and for sure it's not going to be a formula to do so. In case somebody is interested in the details of the formula, here is it, pretty old stuff (in bitcoin time) https://investory-video.com/blog/earn-bitcoin-crypto-millionaireIt basically estimates the whole coinmarketcap of Bitcoin is going to be the same as the global wealth and then divide it to find how much would a million be in BTC. Oh, and BTW, the estimate is no longer accurate, since the global wealth is not 317 trillion but 463.6 trillion the amount of BTC needed has also gone down to 0.045356. This is a bit stupid, because if the global wealth goes to 4600 trillion, you will be only needing 0.0045 BTC, so 140$ will make you a millioane. |
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1803
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Other / Beginners & Help / Re: Google Ads data: $4M stolen through crypto phishing URLs
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on: April 27, 2023, 01:11:23 PM
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I personally think the numbers are way off. $4 million maybe only with the most used keywords, and only checking the most known exchanges, if I would just throw an estimate at least half of that sum was for sure stolen only through chipmixer clones, and there is a lot now ay to count how much people have lost on those. But based on the dozens of websites and they never-ending promotions through adsense must have been pretty lucrative. And that as just one tiny service, I would easily put another zero on that number. With or without ad blocker, we can all avoid falling victim to all this phishing scam. Most of these ads are active on sites that we visit; not all sites support ads, but we can avoid those that do. One thing is for the ads to open; another thing is for one to be foolish enough to be tempted by whatever the ads show him or her that will make them dive in.
Phishing adsense scams don't work like that and are not triking users with fake promises. How this works is that the scammers pay for ads that get shown when somebody searches for example "Binance" or A ton of users are too lazy to type the whole URL and they simply type the name of the website in google and then click the first result, without checking that the ad which claims Binance is leading to biancexzyaax.is for example Here is the original report from scam sniffer: https://twitter.com/realScamSniffer/status/1651452380385509377 |
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1804
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Other / Meta / Re: AI-generated post discussion thread: how to identify & report
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on: April 26, 2023, 10:54:43 AM
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On the contrary, its completely human written for sure. It was written before ChatGPT was launched:
The detectors all returned that it was human written because it was indeed written by a human. If anything its an example of the detectors doing their job accurately.
So, does this mean that we have a situation where chatGPT was caught both plagiarizing and lying about its claim?  I've tried asking it for 10 tips and indeed, the reply had the same 10 "secrets" in almost the same order and the same content, but..this is really getting weird, the AI is generating content that was previously written by a human, not so much intelligence as paraphrasing. Sometimes talking to a human can be worse than talking to the bots,
You have no idea how much worse it can get but keep on..  |
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1805
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Other / Meta / Re: AI-generated post discussion thread: how to identify & report
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on: April 26, 2023, 07:13:06 AM
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Can I see what your example was here? I've yet to come across a text mis-identified by the Hive Moderation tool.
One thing to make sure first, the user didn't post it as his own creation, he just made the topic linking to this article Top 10 Cryptocurrency Secrets Unleashed
Be Prepared for the Price Swings
Every investment has its own set of features that keeps them afloat., Similarly, the cryptocurrency market is filled with volatility. When you are buying a cryptocurrency, it indirectly means that you are signing up for the ups and downs it leverages. Sometimes, short-term steep falls are rise might even shock the investors. However, these are very common in the cryptocurrency ecosystem and you might actually yield profits from this. If you keep a close track of the growth and follow experts who are accurate about predictions, then you can invest in certain digital tokens and get your hand on good profits.
Keep a Constant Check on Its Performance
Even if you are not a full-time cryptocurrency investor and is doing it on the sidelines for profit, you need to keep a constant tab on the price swings. Although a 24/7 observation is not needed, checking them at constant intervals is a good thing. The more complicated your investing strategy becomes, the more you should review it. While this might seem to be a thing for short-term investors, long-run investors can also follow these criteria to keep a healthy investment.
Do Your Own Research and Manage the Risk Factors
A global fact is that cryptocurrency trading is a high-risk business and more traders lose than not. Therefore, don’t get tempted to add more value to your investment portfolio once you see a profit. Most importantly, don’t take other investors’ advise on what cryptocurrencies to invest in. Every digital token has its day! Bitcoin was at an all-time high just last November and now it is down like crazy. Therefore, do your own research before investing.
Opt for the Long-Term Investment
Fear of Not Missing Out (FOMO) and panic selling is very common things in the cryptocurrency market. Currently, people are trying to get rid of their Bitcoin investments before they could fall further and eat up their potential money. Similarly, six months back, investors went crazy over the Shiba Inu rally and many beginners tried their hand on the memecoin. Although these are the factors by which the cryptocurrency market functions, opting for the long-term investment plan is the best way to yield profit.
Choose the Right Platform to Trade
Even if you have picked a cryptocurrency in mind to trade, choosing the right platform also matters. While picking the platform, make sure it abides by all the regulations of the country you are living in. Other factors like exchange liquidity, asset liquidity, and fees need to be clarified before investment. Explore the other features in the platform while you are trading in it.
Use Trading Bots
Trading bots are becoming a common thing in the cryptocurrency market. They are automated software tools investors use to buy and sell financial instruments at a preconfigured time or when predefined conditions are met to maximize profits. Generally, trading bots identify the market trends and suggest investors invest in cryptocurrencies that give increased profits and reduced loses and risks.
Cryptocurrencies Can’t be Completely Wiped Out
Although countries might try to bring regulations on cryptocurrencies and their trading, a complete ban is impossible because anybody can own a wallet. Even if the country bans digital tokens, people can still use foreign accounts to trade them. Tech-savvy investors are also in the top of following such tactics. However, major countries won’t even consider banning cryptocurrencies as they know how much people have invested in them.
Digital Tokens can Come Under Taxation
When Bitcoin made its debut in 2009, the whole concept of cryptocurrency was new to even government agencies. But over the decade, central authorities have become more aware of digital tokens and the profit investors yield. Therefore, many countries are coming up with effective taxation regulations that could come into effect in the coming months or years.
Keep the Asset Safe at the Right Place
Currently, there are two types of storage in the market. One is hot storage and the other is cold storage. While hot storage refers to an online digital wallet, cold is an offline wallet that is typically stored on a hard drive. According to experts, keeping your cryptocurrency in a cold wallet is the safest way to protect it from hacks and mishaps.
Try Out Technical Analysis
If you are a pro in investing, then try out technical analysis tools to choose the right cryptocurrency. Technical analysis involves using mathematical indicators and chart patterns to try and predict which way the process will move next. In this case the author most likely added a few phrases himself, probably that's why the spelling errors in it and the detectors fail, but it's AI generated for sure. |
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1806
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Bitcoin / Bitcoin Discussion / Re: The Dormant Address have been woke up, Are you worry?
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on: April 25, 2023, 06:34:45 PM
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1k coin is just 30 minutes of binances 24hour volume
Volume doesn't matter in a dump, what matters is the order book and the depth. You can have 1 trillion in volume and only $5k in the +/- 2%, guess what a $10k dump would do ?! So rather than looking at the volume check the orders and how low would a 1k sell go (you don't even need an account on Binance for that). |
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1809
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Other / Beginners & Help / Re: Anyone with UK Tax experience?
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on: April 25, 2023, 05:59:34 PM
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In my community, almost all of us use such services. Better to pay few bucks than getting headache, mistake, paying more taxes than supposed etc...
also the risks of getting a fine for underreporting, and having to deal with more than just the fine afterward if the finance inspector that will be in charge of your case of 10$ unpaid profits on some shitcoin is himself a piece of...somethign! I don't know what exchanges OP has used, but if he has activity on the ones that Koinly supports, which are a ton, it's really a no-brainer, just go for it, and don't waste money on some accountant that will charge you sometimes even in the thousands for the same job and who will use for sure also the same piece of software. ^Not sure how much it would cost you to hire one in the UK, but I'll bet it's worth it in most countries.
If OP is not looking at huge sums invested so straight 6 digits in booth assets and profit it really makes little sense to hire an accountant nowadays with all the programs around that need only clicking, it's good to hire one if you have a ton of other income sources and you plan on optimizing those, in this case, it's a different story but just for crypto, no, at EU/UK level prices a really good one will charge you over 50 euros per hour, and I swear, these hours are just some 15 minutes long in this profession. |
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1810
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Bitcoin / Bitcoin Discussion / Re: The Dormant Address have been woke up, Are you worry?
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on: April 25, 2023, 05:18:49 PM
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If it's not your address, it's not your concern. It's a simple enough concept. What business is it of yours if someone decides to move their funds after a period of inactivity? None. People need to focus on looking after their own wealth and leave others to do the same.
Human nature at its best. Everyone preaches about privacy, as how to hide your coins, to not talk about it with friends and family, and at the same time, some are dying of curiosity to find out who Satoshi is, how many coins he has, if he still has access to his coins and so on. One moment after they preach about the pseudo-anonymity of Bitcoin and against KYC and other things they want a full DNA sample from the guy that moved x coins. But I assume it's not simple curiosity from the aspect of the information on the person itself as the fear that guy might have more coins, so more dumping, so Lambo's dream is delayed by another year. You know how rumors work, that guy sells, he's a whale, he must know something, should I do the same? I'm quite sure a lot think that if people who have sat with their coins untouched for so long have decided to cash out it's because they don't think holding coisn will earn much profit from now on, so that's why the panic right now. |
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1811
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Economy / Exchanges / Re: Why Coinbase & Binance does not support Bitcoin LN?
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on: April 25, 2023, 04:38:59 PM
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But this fee you say they charge, from my understanding this fee goes to the miners and not them(coinbase) unless they don't apply the said fees to a transaction then thats dishonesty on their part!
Binance charges 0.0002 per user per withdrawal. Now, assuming their last transfers from hot wallets, both initial deposits batching and then payments they've paid for a total of 50 outputs this: 0.00183416 and 0.00041664 BTC, which is 0.0022508 , while charging 0.01 BTC. So over 50 users, a 0.0078 BTC or some 200$ extra. Multiply those by a hundred and it starts becoming more profitable than fees on trading. Because I don't think he was necessarily a hardcore pioneer for decentralization.
Yeah of course we all know this. It was just a simple almost rhetorical question, but I feel you were ready for it since you knew who you have chosen to defend  |
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1812
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Economy / Economics / Re: Germany surprises everyone, the economy keeps growing
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on: April 25, 2023, 04:17:39 PM
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Surprises? Germany losing money and being a poor nation would be a surprise, them growing and getting better is not a surprise to anyone at all.
It is to a lot of people, let me quote some Germans are looking to firewood for energy as natural gas prices soarExactly. They built their massive economy on massive energy they didn't have, and Russia took advantage of it as much as they could for a day like this.
In a recent interview in German TV the head of the Federation of German Industries BDI, Siegfried Russwurm pointed out the increasing number of insolvencies in the country. 30% have already declared bankruptcy while about 60% have claimed to go insolvent this season. Only about 11% of the German businesses has claimed to have no issues! Majority of them claimed that they are going to take their capital outside Germany.
So according to the genius above right now there are only 10% of the companies in Germany alive, weird how you can still have a growing GDP and rising exports with just 1/10 of them, must be that German efficiency. Or another genius who said Kyiv would fall in one month and the whole of Ukraine was to be conquered by last May: LOL.. so you are saying that Europe will find replacement in the next couple of years. What will they do until then? Maybe they will travel in donkey carts and heat their homes by burning firewood?
You see according to some experts here Germany was supposed to be right now in the stone age or at least bronze, funny thing that although all the stupid things they have said are obviously ridiculous by now none of them is backtracking and are even doubling every day on the predictions of the fall of Europe. This is what propaganda does to some Success isn't just dollar signs. What about social justice and human rights? Germany's got a goldmine, but their refugee and migrant game? Questionable. Ignore that because the economy is booming?
If Germany has a migrant problem it's obvious because people are flocking there, so if millions go to Germany and not traveling to Iran for example, or Venezuela or North Korea which doesn't have a migrant problem it seems from the refugee point of view Germany is still the top choice. So, unless they stop going there en masse and switch the target destination to Russia I tend to believe both social justice and human rights are of no concern! |
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1813
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Bitcoin / Mining speculation / Re: 2023 Diff thread now opened.
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on: April 24, 2023, 07:30:45 PM
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Again playing around -2 and +2%, boooooring! The last adjustment of 1.72% was very logical, as I mentioned in my previous posts, given the current hashrate and price, I expect most adjustments will be small in either direction with more positive adjustments,
I was curious about this on the last adjustment but forgot about it, so the interesting part about those is that the last time we had 3 consecutive adjustments under 2.5% (+ or -) was on 2022-07-07 , prior to that on 2021-03-19 and 2019-12-19. So 3 times in 4 years, and not even once we had 4 in a row. Of course, the median gets blurry when we add the adjustment that came after but still, long periods of small changes were quite rare in the past, so we might see the first signs of growth finally! slowing down. As you said it, 1 GW of power and hundreds of thousands of miners getting produced, shipped, and installed in such small intervals is just becoming an impossible incremental task. Also, Sweden ended its love story with bitcoin mining, so only Norway and Iceland are left in Europe, seems like opportunities are still going down. This is, unless you plan on mining only when the sun is up and the wind is blowing, just like a few days ago when electricity prices in the Netherlands went to -200 euros per Mwh |
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1814
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Economy / Exchanges / Re: Why Coinbase & Binance does not support Bitcoin LN?
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on: April 24, 2023, 07:09:28 PM
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I'm going to play devil's advocate here and say that maybe it's because LN-related deposits/withdrawals simply doesn't have that much demand as of yet.
But if you're a pioneer in the field of decentralization and a leader in the world of crypto and you aim for all those bla bla bla things CZ brags about it when he goes full peacock mode he should have at least tried, right? If not deposits at least offer withdrawals via LN, it would have been easier for Binance and it would have been enough for a test to see demand. And even if we talk volume and usage, if you still list 600+ rank coin that does under 1 million in wash trading and you still go through the effort of offering deposits and withdrawals for it, which at that volume I'm pretty sure are under 1 BTC a day you could offer LN also, and even if the numbers won't be spectacular for sure they would top at least one-quarter of those useless bitcoins traded there. Also, the prosecution would like to ask the devil's advocate why are Segwit withdrawals more expensive than legacy ones? At least one in that list is no more: The Rock Trading Scam www.therocktrading.com Exchange Review They don't even call it WBTC (which is on ETH) or anything else, but straight BTC!
And they have two of them!
Binance has more than two, it has three. I meant on their own chains, not including eth. |
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1815
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Bitcoin / Project Development / Re: Airbnb Crypto Project - Concept notice
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on: April 24, 2023, 06:46:42 PM
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~
My coming here is simply to get feedback on this idea, I think there is a market and I want to meet a market need. I'm clearly not here to hurt Blockchain / Crypto projects on the contrary! I sincerely believe that this is the payment of tomorrow. The payment of tomorrow yes, Bitcoin is a good candidate for it, the thing is that you really need to differentiate between a currency or a payment gateway and a service. Visa is successful, a platform accepting Visa won't be by default successful if users don't feel like it offers anything. Your platform must be viable even if we exclude Bitcoin's strong points (decentralization, pseudo-anonymity etc, ) and think of it as just a method of payment, like a credit card. - 10% reservation fee which is less expensive than most of our competitors:
- 6% Service fee which goes to Ctravel to finance the platform.
- 2% cashback in BTC / ETH which goes to the user. That would put you at 14% and you're losing all the attractiveness of a cheaper platform against AirBNB. Airbnb the - :
- Very negative trustpilot review 1,3/5 (10000 notice) Trust pilot reviews are hardly an indicator, just a few more examples: Samsung 1.3, Apple 1.8, Mercedes Benz 1.8 , Ikea 1.5 90% of users of Trust Pilot complain about something that was a bad experience, and they won't leave one positive review even if they had a positive experience. I do the same, all my reviews on Amazon, for example, are for stuff that was bad, not a single 5* for the ones that did what they were supposed to do. Our goal is to meet your needs and provide the best possible service, your interests come first. No investor will have their hands on us, Ctravel team is independent and that's what makes it strong compared to other market players!
Yeah, nice in theory, but unfortunately the harsh reality is that every service that is an intermediary will have to choose between an aide which they will favor, because no one has ever managed to find the perfect balance between, in your case property owners and customers. And it's the same, you either screw both or you chose a side, this is what booking is doing, this is what PayPal does and so is Uber. Don't mean to discourage you with this one but this is how real life works,... or sucks! |
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1816
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Economy / Economics / Re: Rules of Taxes
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on: April 24, 2023, 06:27:37 PM
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Ideally, governments should collect taxes like honeybee, which sucks just the right amount of honey from flower so that both can survive.
Terrible analogy - bees don't collect honey, they collect nectar and flowers have no need for it, they offer it free exactly to have the bee transport polen - bees work all day, they don't have Sundays they don't have holidays, they don't get retirement - male bees don't work at all, they benefit from the food and one of the lucky bastards has a fun time once in his short life - queen bees are the only ones to get the royal jelly all their lifetime - all dead bees are just thrown away out of the hive and forgotten So, it doesn't get more despotic than that at all, and I'm sure every bee would love to pay taxes in the humaninstead of working in a hive. Government is not after of what that will bring good for people, what Government is to accumulate their revenue,
Governments can't "accumulate" revenue, and it's really bad even for the worst of them if they would try this. It means they will get fewer votes and then they would get thrown out of power and they would have no way to actually spend the amazed revenues, which is really really stupid. What bad governments do, which btw are still made out of people is spend less money on what's important for the people and more on things from which they can have a share of the money in bribes or profits, but no bad government would ever try to "accumulate" stuff. |
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1817
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Bitcoin / Bitcoin Discussion / Re: CivKit it is not a perfect marketplace but almost
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on: April 24, 2023, 03:11:38 PM
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As far as Nostr is concerned, from what I understand CivKit extrapolates the data present on an LN transaction and enters them in a trivial json to create the announcement on Nostr but therefore uses the same relays of Nostr, do you confirm?
Hope I won't have to go back and delete this once I dig more into the whitepaper but yeah at this point it seems that nsotr is used to broadcast the offer or as they call it a trade event, the BTC protocol is used to sign that offer, and the bulletin boards are interpreting the data received. I'm a bit unsure if the protocol is used anywhere else further down in interactions between users but doesn't seem so, just a communicating channel at this stage. But I would love to see a bit more than just a whitepaper, the full product might be completely different. Previously, Ray and Paxful announced that Paxful users can import their accounts to Noones. I am not sure why only a few days later, it turned to be CivKit.
Noones is functional, CivKit exists only at pdf level. |
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1818
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Bitcoin / Bitcoin Discussion / Re: CivKit it is not a perfect marketplace but almost
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on: April 24, 2023, 01:56:30 PM
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I think that it's one thing to propose something in a whitepaper, and an entirely different thing to actually build it. Just think about the 2017 era of ICOs, where so many projects looked like amazing, prosperous ventures and yet 90%+ of them turned out to be scams, too expensive to build or just technically impossible to build. That's not to say anything about CivKit, it's just to say not to take a whitepaper as an official sign that something is possible.
There won't be any ICO with this one, it won't need a new coin or token since it works only with BTC and there will be no possible return from it. Or at least this is what they claim now! A few things about this on the first lecture, the technical data can wait till I had another coffee - not really a new concept, the same things has been already tried once - interesting that they are using naira and BTC in examples, so guess this is already targeted at a specific audience - I was really curious how they will handle escrows and disputes, again, nothing new, rebranded them as oracles (d'oh) that suffer from the same flaw as every previous solution, two or three people colluding will be able to force a decision even it's unfair. Furthermore, positions are either appointed by the team, thus stopping decentralization or voted in, which means they can be a victim of sybil attacks. (acknowledge by the whitepaper) - the interesting part would be the so-called bulletin boards, but I think the design of such boards relying on offers relayed via nostr message would be really unappealing to the masses. - the whole rank proof servers idea, seems neet but wouldn't it be also a simple attack target? I'll read it later on in more detail, although for the average user what's more important is how easy it is to use, not the magic that happens behind the app. I like the idea of the marketplace even if I don't fully agree with the use of relays like Nostr as one could easily get to the relay host, instead it would be better if it were implemented directly in the blockchain
What do you mean by getting implemented in the blockchain instead of Nostr ? The signals between participants? At least it comes from the founder team with Ray Youssef, the ex-founder of Paxful which is a peer to peer marketplace but was shut down weeks ago. I know Paxful is not decentralized but likely Ray retired from Paxful by some internal conflicts as well as pressure from law enforcement and regulation on Peer to Peer marketplaces.
There was a bit more than just regulations: https://www.coindesk.com/tech/2023/04/08/drugs-erratic-dismissals-and-feuding-founders-behind-bitcoin-marketplace-paxfuls-unraveling/ |
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1819
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Bitcoin / Bitcoin Discussion / Re: Bitcoin Bloodshed Lower Hashrate
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on: April 24, 2023, 01:16:30 PM
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What would be a way to prevent miners from killing other miners? It happens with gold, USD, etc etc.
How many data centers have you seen being bombed by competitors in the US or EU? You can't look at wars in Africa over mines or drug cartels wagering war in Mexico and think this will happen everywhere! Just because there are people killing each other for gold mining in some 3rd world country doesn't mean: - those people won't kill others for anything else, be it cattle, a motorcycle or some cash - this will happen all over the world And have we cured ALS yet or are we still using hashrate on mining currency over medical problems.
And we haven't found a solution for hiccups and we still use a ton of energy to power water fountains. Let's solve that first and then argue what medical advance will happen if we shut down all miners, which I dare to estimate at around 0 point 0!  Ananias and Sapphira were killed because of their hoard of currency.
And Icarus died because he used beeswax instead of gorilla glue! |
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1820
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Bitcoin / Bitcoin Discussion / Re: Do you think China is playing a double game?
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on: April 23, 2023, 02:55:26 PM
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How much will China profit if they take over everything that is in the US today and is connected to cryptocurrencies?
No bruh, it's a losing battle. Not China against currency but us trying to teach newbies how ridiculously small the whole crypto ecosystem is right now and how little there is to gain from it when with talk about a country with a GDP in the trillions. Everyone says that countries need to attract crypto businesses so - low or zero taxes for those companies - zero taxes on profits So, what are those countries going to benefit from when they will not tax anything, they will end with millions of untaxed citizens' money, huge capital outflow, and all this for what? 10-20 low-paid customer support jobs and a 100 sqm office? Newbies would really understand to analyze the different implications between personal gain and country-level gains when it comes to crypto, the fact that one person is earning $ doesn't automatically mean for the said country there is also a net gain. Back to the HK thing, it's just China showing a bit of carrot, wait for the stick, as soon s too much money pours into this and they start losing control they will shut it down in a split second. |
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