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2561  Economy / Economics / Re: SBF arrested in the Bahamas after U.S. files criminal charges on: December 13, 2022, 02:16:04 PM
Will there be a "free SBF" movement,

Yeah, there will be one, free SBF from prison so we can hang him ourselves, that kind of movement.
There is nobody right now other than probably his gangbang buddies that would dare to come in public and demand freedom for this guy, not only he lied and manipulated, used customers' funds at his own discretion but when everything was uncovered he acted like a  total piece of ***,  minimalizing what he has done, thinking that one "sorry" is enough for the lives he affected in some case beyond repair.

It seems that SBF was forewarned this was coming.

Common, everyone knew this was going to happen, the only thing was how long it would take, with good lawyers and acting smart, and collaborating with the police immediately he could have postponed this for months, Karpeless managed to avoid it for a year, Mashinsky is still free and Do Kwon is still in hiding.
Seems like the self-proclaimed genius was the stupidest of all.


2562  Economy / Economics / Re: This could be the biggest news in 2022 on: December 13, 2022, 01:56:42 PM
Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars .

Bankhaus von der Heydt is not the oldest bank, not in the world, not even in Germany. it's just a shell of the bank it once was, in name only right now.
Too many clickbait titles lately.

And $15 million for a bank is dirt cheap if you ask me.  I wonder if their crypto business somehow got them into trouble financially.  Interesting, but the title of this thread is pure clickbait.

It's a "bank" with 20 employees and one location, the previous and real bank with this name was once acquired by Commerzbank and it what is left now is just the name bought by somebody else in 2005,  with less than 20 million in assets under supervision it's more like one of those FinTech start-ups than a bank.






2563  Economy / Economics / Re: A new dimension in the FTX saga: Sam doesn't read books! on: December 12, 2022, 12:23:41 PM
I think this is another one of his attempts to look "cool" and try to sell this image that is really appreciated by adolescents, that you don't need to read books, you don't need to go to school, you don't need to listen to others, just listen to your gut and you might be the one 1 in a million that get lucky and not the rest for which the first book at 30 will be the instruction manual for the fryer at McDonald's.

Besides, coming from him this is BS, no way would have he graduated from MIT without reading a book, and with his parents being teachers no way he made it till 10 without already a hundred read. The more he opens his mouth it becomes clear that he is quite an unstable guy and a pathological liar.
In short, the guy is nuts, everything coming from him is either wrong or a lie.

2564  Economy / Exchanges / Re: Binance asking for KYC, again on: December 12, 2022, 11:39:33 AM
Small update, after not bothering with KYC I got another mail from Binance, this time informing me that "Your Binance Card may be restricted" , I've checked the emails, and it's exactly one month after they informed me that my account was limited to withdrawals only.

So I assume that in one month they will block my card, not that I care that much about it but it might be a warning for those that don't plan on going through KYC that more restrictions are to come and probably by early next year all the unverified accounts will be frozen completely, so get whatever you have out of there.


2565  Economy / Economics / Re: Have Satoshi dream failed? on: December 09, 2022, 07:24:23 PM
Satoshi Nakamoto created Bitcoin as the perfect P2P digital money but today people are forced to pay tax on their holdings. Haven't this make the whole anonymous and freedom dream of Nakamoto failed?

So in your vision bitcoin was developed to avoid taxation? It was never supposed to do that, it was created as a mean of allowing people to send and receive value without the need for a third party, Satoshi never claimed anything about tax avoidance not in the whitepaper, not in his posts on this board.

They believe that if one makes an investment, they should receive a portion of the profits. Bitcoin is here to put an end to that, and everyone will have complete control over their money. Only centralized exchanges allow governments to extract taxes from your money, according to findings.

Put an end, no, no way that's going to happen!
Before the bank and centralized exchanges existed how were taxes imposed, in times like the middle ages for example when everything was genuinely peer to peer? Just because you hide your coins in your pocket you think you will avoid taxation, pretty curious about those "findings" hat let you believe that.
What happens when you buy a car, a hotdog, or a bus ticket, you pay VAT! What happens when your income shows $12k a year but you bought a $100k home or a $10k car, do you think that if the government wants to track you for reel for any sum they won't be able to do so?  You can't eat coins, you can't drink them, and can't live in one, sooner or later you will have to get them from your wallet and purchase things in the real world and that's when taxation will start.

Taxations will only end when the government will stop them, you would be amazed how easily they will find ways to tax whatever you own no matter what you use.
2566  Other / Archival / Re: Harsh crypto winter for all categories of crypto users on: December 09, 2022, 05:24:27 PM
The capitulation of miners is getting faster:

I was surprised to see TeraWulf in green there, that 16% up looked weird,but that screenshot is just 24 hours I guess,

Quote
PERFORMANCE
5 Day   18.49%
1 Month   -8.26%
3 Month   -16.93%
YTD    -92.99%
1 Year -96.90%

I don't know a single mining company that's publicly traded that hasn't been hammered to the ground lately, there might be a few that lost a little but also probably small operations that haven't seen the same bull run previously either, so their stocks weren't inflated.

And the reason for the layoffs is simple:
Quote
The influx of money into the crypto industry has become lower than in the last bearish cycle of 2018-2019:

There is no money inflow, there is no money pouring from the sky to pay inflated wages to hundreds of people, new projects are not attracting investors as much, there are no buyers, and the much needed clean-up time is finally here when a ton of useless stuff will finally be thrown where it belongs, in the garbage bin.
Anyone who believed we could simply have millions of people living from crypto by just creating coins and trading back and forth shitcoins is going to have a serious wake-up call, the only services that will not be affected that much will be the ones that don't depend on the value of the coin, gambling sites or merchants because they don't sell coins, they sell services or goods.


2567  Bitcoin / Mining / Re: Cloud mining for bitcoin on: December 09, 2022, 04:53:17 PM
What planet are you from?

Bit3 offices, those three spammers have caught my eye today with their posts about cloud mining and bit3

Name:   Pepchich1989Date Registered:   December 08, 2022, 04:14:01 PM
Name:   NimboPontik93Date Registered:   December 08, 2022, 04:10:35 PM
Name:   martinenrotDate Registered:   December 08, 2022, 04:38:44 PM

The website is one month old, they claim euro 11kwh and running a profit, their calculations are obviously bogus on revenue and inflated by 50%, is there anyone still falling for these?
2568  Economy / Trading Discussion / Re: My advice If you are here to make money on: December 09, 2022, 04:35:05 PM
I don't read any news i dont care much about btc and price but everyday i make money becouse i Open position for few HOURS and then whatever money i make i cash out this money.

Yeah right!
If that would be true and you were making money each day so easily, then
- you would not try to make pennies by selling signal servcies and you wouldn't be that desperate to offer 75% discount after jsut a week

...I think 130$ for start Will be fair monthly fee becouse you make this money back in 1-2 days and the rest of the days it's your own profit. ..
Let's get serious here If you want to join with my trading team then you can join with 33$ for start with 33$ you can change your life better...


- your predictions or signals posted in the same topic would have been accurate, not a straight fail 4 times in a row ending with a loss
In short, your history tell us you're one of the last persons to give advice on trading here and another lesson for newbies looking for a quick buck that in most case signal trading ends in them falling for scams, either with fake random hints or victims of a pump and dump schemes when they help others buy buying their shitcoins.
So, if you can make a few thousand a month just by playing with a hundred $ with your technique, why are you wasting your time selling it for 33$, a fraction of a normal day's profit? Rhetorical question, because you have already proven it doesn't work!

Trading shit coins is bad
Trading future with shit coins is worse

Trading shitcoins with x20 or x50 leverage is far worse!
2569  Bitcoin / Mining speculation / Re: 2022 Diff thread. on: December 09, 2022, 02:59:54 PM
Well, this kind of article does make me feel better, even with the obvious threat of a huge price hike coming in January that might put me in the same spot as them, but, at least I don't have any loan sharks coming after me.
As for the positive ending...

Quote
Still, Pintos says the worst is over. As miners unplug, the Bitcoin blockchain will make it easier to mine new coins, thereby increasing the revenue of the miners who survive. But if Bitcoin’s price rises, the cycle of short-term loans and cascading crashes may continue once more.

Somehow he missed the other scenario, what happens if the coin goes to 10k?  It starts with the word f* and it ends with multiple times in a row with a shovel! Grin
Back to the difficulty, I will respect Mikeywith wish (for a while), and no way I'm going to predict on what the current diff says because it makes no sense whatsoever, this is just somebody making fun of us, common, if this really happens then the whole thing is some kind of alien simulation that are just enjoying making us miserable

Current Pace:   109.2058% 
34,2T with an increase of 9% makes 37,3T which would be a new ATH, 3 more exahash over the previous.
2570  Bitcoin / Bitcoin Discussion / Re: Should El Salvador Fork Bitcoin? on: December 09, 2022, 02:40:43 PM
#1.  Lumber and firewood are two completely different things. Many forms of lumber contain arsenic based poisons intended to kill termites. These types of lumber cannot be burned as firewood without exposing people to arsenic fumes that could be harmful to their health. In that sense it is inaccurate to use the terms lumber and firewood interchangeably. The market value and price trends of lumber and firewood are also completely different due to these reasons.

So are gasoline and diesel but you can see that since they derive from the same thing, oil, and in our case trees the less demand from one would trigger enough cheap oversupply for the other, all companies that deal with that would either have to fire their staff or try to refocus their activities, supply and demand, the trees are still there, the demand for lumber is not, what are you going to do?

Look at current market trends for gold and silver. Central banks owning the vast majority of good and silver in the world, maing it easy for them to set prices due to their high holdings and liquidity.
The same precedent applies to bitcoin. Hedge funds and large institutional speculators current hold the majority of bitcoins and liquidity, also making it easy for them to set market prices.

No, they do not.
The Central Bank of Russia can't freeze my gold, it can't print 100 billion tons if it wants, and can't shut down the gold trade.
See the differences between a nationally controlled currency and an internationally traded asset?

If el salvador forked their own distribution of bitcoin and blocked it so that wallstreet and hedge funds could not conceivably own a large majority of coins to influence market prices. Then perhaps you might see the potential for price trends being different in contrast to bitcoin's current price history.

What would stop people in Salvador from selling their coins to these infamous Wallstreet investors?
Or do you want to put a limit to the number of coins each one is allowed to sell and to the persons he is allowed to do so?
Oh wait, but just above we were talking about incentivizing investors to buy SalvadorCoin and now we talk about restricting them, common, Hydrogen, you can do better!  Grin

In short, one motive behind forking bitcoin would be to eliminate price interference caused by large speculators and institutional investors.
In practice, this could be impossible.

Finally!
2571  Economy / Economics / Re: Russian Gas ban - A problem for Europe or suicide for Russia? on: December 09, 2022, 02:25:10 PM
Bloomberg published it yesterday on 8th, today they seem to have changed their minds and published an article that is like the opposite of this one where they quote the same London based company called Argus Media that says Russian oil is being sold above the price cap Cheesy
https://www.bloomberg.com/news/articles/2022-12-09/easy-freight-helps-russian-oil-hold-above-g-7-s-60-cap-in-asia

I wonder what kind of reading or comprehension problems can a simple two-line text pose.

Quote
Russian ships, insurance being used to move ESPO, traders say
vs
Quote
The country’s Urals grade, which accounted for about 60% of the nation’s seaborne exports over the past year, traded at $43.73 a barrel

60% of Russian seaborne exports are trading well below the limit, and that's only sea shipping as the majority was going through pipelines to the west.
The entire Asian infrastructure Russia has can't export more than 80 million tonnes a year with 35 million via the pipeline at maximum, compared to 210 million normal exports a year.

Simple enough? Or do I have to resort to pictures?
2572  Bitcoin / Bitcoin Discussion / Re: Should El Salvador Fork Bitcoin? on: December 09, 2022, 02:11:14 PM
The OP really has incomprehensible ideas for me personally, and I think he should think carefully before presenting them in public, because sometimes it really seems like he doesn't know what he's talking about.

Hydrogen is what you would call a crypto maximalist, he thinks that replacing any kind of trading with a token, combined with relentlessly printing said tokens would somehow ensure prosperity, of course, this is a flawed vision but I admit in some cases it's entertaining, some are outrageous but some quite funny.

Why did bitcoin forks fail? Specifically why and how.

Because there is no need for them, simple as that.
That's why all forks fail, not just bitcoin forks but ETH forks and others.

If you thought about it, you might realize the changes I proposed address said failures.
Last I checked firewood is outperforming stocks, bonds and everything else btw. I guess you're not a fan of financial predictions being proven accurate?

What you proposed is a country spending money on subsidizing miners in the same country and then having them sell these coins to investors who would buy it... because ...why? Why would outside investors buy Salvador Bitcoin and not Bitcoin or Ghana Bitcoin or 600 West Third Street Mansfield issued by the Mansfield council in Ohio?

And if wood was a good investment, it would have been so without any token, right? So, there was no need for named token in the first place.
Second, you might want to check those prices again, lumber is taking a tumble and firewood will soon follow once things settle down and all the fear about freezing finally becomes what it was supposed to be, a debunked myth.

https://markets.businessinsider.com/news/commodities/lumber-prices-hit-lowest-level-since-2020-housing-market-slows-2022-12
https://www.investing.com/commodities/lumber

If you would have bought lumber in 1993, you would now have a loss, a 30 years asset that is in red hardly sounds "outperforming", what you're looking for is more speculation or, since we're talking about crypto, pump and dump behavior.

2573  Bitcoin / Bitcoin Discussion / Re: Should El Salvador Fork Bitcoin? on: December 09, 2022, 10:54:46 AM
This will happen, their forked bitcoin will be useless as it will drop in value worse than Bitcoin SV, it would be stupid to have a Bitcoin that is being issued by the government and controlled by one.

Second, about the mining stuff
- they would need a centralized pool, you can't block mining gear from the source code of the coin based on IP
- Salvador is a NET importer of electricity, that's why their whole volcano mining was just a big PR lie and nobody is talking about it anymore
- Salvador is so poor it can't afford anymore to offer "incentives"

Third, putting caps on how much you can own, then putting caps on how much you can trade, then putting caps on how much you're allowed to keep, right? It is truly a marvelous idea, the only question that remains is why use bitcoin at all?

You seem very keen on the idea that somehow a country can print cheap money easily, give that money away and nothing will happen, everyone will get rich and you won't experience inflation and devaluation of the mass-produced currency. It doesn't work like that!
2574  Economy / Exchanges / Re: Invest in Your Future with Kufrux on: December 09, 2022, 10:32:56 AM
Besides the whole fake registration, fake claims, copy-paste terms and policies, one big F**You!!! for the price scam you're pulling, I forgot these are still around, and since I didn't bother to check the prices today before your site made me skip a beat when I saw them



Completely forgot about those traps with inflated prices that make newbies eager to take the opportunity of making a quick 10%.

1. MEK Global Limited is associated with Kucoin, are you trying to say you are associated with Kucoin?

Isn't that obvious, it's KUfrux, after trying to get such a domain name what's a bit of copy-paste. Besides, these scammers know that the only ones looking at ToS and other pages are the ones who will not deposit a penny, we're not their customer target base.
2575  Economy / Economics / Re: Coffeezilla Accidentally Got SBF To Admit to Fraud on: December 09, 2022, 10:14:40 AM
That was one of those moments when the bad kid regrets not listening to his parents, especially since in this case both were teaching law at Stanford.
I said were because it seems they were fired, I don't buy the retirement story:
https://decrypt.co/116770/sam-bankman-fried-barbara-parents-stanford-law-teaching-break

As for SBF, we know he was committing fraud or at least misappropriation of funds, he knows he was doing it, the only problem is that we need t see him in court first, and as we look at Kwon and Mashinsky is going to take a lot of time to get SBF into one.
But as a side note, damn all those "I think" were annoying, seriously, you think? you're planning to change the world, you go to senate hearings, you have billions of clients' money in your pockets, and you think, you don't know! And this guy was praised as a genius!
2576  Bitcoin / Bitcoin Discussion / Re: "Bitcoin is Islamic" -by Economist Bruce Fenton on: December 09, 2022, 09:43:23 AM
"Bitcoin is Islamic "
-Says Economist Bruce Fenton

1. How about we let Muslims decide what's Islamic and what not
2. How about we stop mixing Bitcoin and religion
3. After a failed carrier strat as a politician probably it's not the best time to talk about international stuff that's way beyond your current capabilities

So who knows, maybe this time, to be able to push the price again we need the billionaires of those Arab countries to be able to see bitcoin at least $100k.

It's a bit ironic that we need the so-called old finance billionaires to rise bitcoin value, a few more steps and we're going to see cheers on Rothschild, Soros, and Buffet investing in Bitcoin.
2577  Economy / Web Wallets / Re: Bitpay Big Exploit? - 323 btcs sent to unknown address on: December 08, 2022, 11:36:26 PM
Also, how do you come to a conclusion that the few coins spent were moved to mixers? Please educate me.

Breaking into smaller inputs, sending them to addresses that join them together and then splits again into tens of inputs, addresses getting hundred+ BTC in multiple transactions in the same block and then emptying all again in a matter of seconds, that's mixing behavior, no CEX does so.

Also since 2021 without moving, this was made by a professional hacker not someone who had access to my phone or anything.

Or by somebody that got scared at the amount involved and decided to play low and set up his next moves carefully waiting to see if somebody knocks at the door, but probably this bear market is testing his patience with 6 million just in reach so he wanted at least a few of that now! Usually, professional groups try to settle things as soon as possible to reduce the risks of a member jeopardizing everything, plus a volatile market would lead to a lot of infighting.
2578  Economy / Economics / Re: Stalkers’ “chilling” use of AirTags spurs class-action suit against Apple on: December 08, 2022, 07:57:40 PM
I'm surprised it hasn't become more common to install air tags (and gps trackers) on vehicles, bikes, motorcycles and scooters. To make them easier to trace in the event of being stolen or hijacked.

It's becoming more and more popular already,
https://www.berginsight.com/the-number-of-active-consumer-asset-tracking-devices-in-europe-and-north-america-to-reach-28-million-in-2026
I personally know people that have installed a tracker on their dog leash, and their small kid belt, and not even counting the number of guys putting one in their bikes. I have a GPS tracker in my car, but mainly for insurance purposes, the yearly cost is offset by the 20% off.
But overall I think that more of my inner circle friends have put them on their pets than everything else combined.

Unfortunately, violence and homicides are also on the rise. Is there an option for RFID or GPS implants which would make a missing person easier to trace if they were kidnapped or killed?

Active RFID needs a battery source, and passive RFID has very low ranges, if you put a person in a basement or behind two concrete walls there is no chance for the emitter to pick up the signal even if you're literally standing at the door of the kidnapper.
An active GPS needs also a  battery and is far bulkier, you can't possibly inject those.

The only thing like this on the market is a double solution, an RFID chip injected and a GPS emitter that communicates with the passive chip and sends the data, but that needs to be carried in a pocket or a backpack, and for sure the kidnappers of rich kids will strip them naked and throw it away. Then the implant becomes useless. In short, it will help you if your husband has taken the kids when he wasn't supposed to do so, but it won't stop a real professional kidnapper or a gang.


Quote
Quickly after releasing AirTags, the complaint says that immediately, Apple was inundated with “chilling” stalking reports, including stalkers sewing AirTags into clothing to evade discovery.

Common, if you have a stalker that is capable of sewing into your clothes you have bigger problems than him tracking you.
2579  Economy / Economics / Re: Manufacturing orders to China down 40% in unrelenting demand collapse on: December 08, 2022, 07:23:52 PM
Quote
Surprise European manufacturing increase
Unlike the decrease in orders out of China, trade data analyzed by Project44 indicates that the Europe-to-U.S. route is “one of the possibly most surprising and certainly most significant developments since early 2020,” Brazil said.

Oh no, what a surprise!
So, all those facts about Europe reaching the highest employment level in its history, adding more jobs to manufacturing than ever, and industrial production going in 2021 above pandemic levels couldn't have pointed this out? Another nail in the coffin to all those chanting the doom and gloom sutra about the future of Europe but I'm not surprised they can't stop themselves, so much envy and so much hate! Delicious!

It seems that we are witnessing the beginning of the next large-scale crisis on a global scale - the fall of the Chinese economy! China's economy is one of the largest in the world, and the clear leader in Southeast Asia. But I have been saying for a long time that it is export-oriented, and is highly dependent on the US and EU consumption markets. And if the US, in the first place, and the EU in the second place, greatly reduce the consumption of goods from China, this will bring down an already not very stable economy.

But, but, bro, they have Russia!
Don't you hear it? China is planning to replace its $500 billion (US) and €223 billion (EU) with Russia, lol, with Russia!!!!! And all this, while somehow Russia's plan is to replace all Eu imports with local manufacturing, so, this plan seems to have some kind of flaw but I can't really pinpoint it!
Seems like that famous new world word order is going to be a short-lived dream in some madman's mind.
Again, delicious!!!  Wink

This reflects a significant decline in the purchasing power of american consumers. As the world's largest consumer market the united states represents a significant portion of global purchasing power. A market which major exporters of the world have catered to. The US consumer market however appears to be drying up as rising fuel and food prices cut into the disposable income of average to even middle class consumers.

I always warned the ones thinking that the EU and US economies even having a hiccup will send the ones depending on them into a coma, but no, this will be a boost for emerging markets, no way, COVID seems to not have been an economic lesson to the ones that saw thousands of jobs being destroyed in countries not really affected by the pandemic but by no interest in purchase from importers elsewhere.

https://e.vnexpress.net/news/economy/layoff-wave-sweeps-vietnams-manufacturing-hub-as-export-orders-dwindle-4540019.html

Quote
According to the Vietnam General Confederation of Labor, the ongoing order shortage has affected more than 630,000 workers in 28 provinces and cities from September-November. Nearly 570,000 workers have had their working hours reduced, another 34,000 plus have lost their jobs and more than 31,000 have had their contracts suspended and cases of unpaid leave or contract suspension.
2580  Economy / Economics / Re: LMAO: Lagarde says Euro CBDC seeks to 'ensure high standars of privacy'. on: December 08, 2022, 06:53:41 PM
From a serious poster like you, I would expect something more than a post from 4 and a half years ago, which I read at the time, because despite what they said, nothing has changed the trend that Sweden has, and its way to be the first country to completely abandon cash, whose use is practically non-existent in everyday life. If the central bank had wanted to, it had weapons to use.

A thing isn't wrong because it happened 4 years ago and not two weeks ago, it did happen the Central Bank is still against not eliminating cash and you can see that for yourself since it's still printing banknotes. As for the last remark, it's quite funny, the people don't want cash themselves but you would expect the central bank to go against their wishes and use their "weapons"? Well, what a surprise, it does:

Quote
These discussions have recently been initiated and the ambition is to have a solution in place well before the new Sveriges Riksbank Act is expected to enter into force on 1 January 2023. This solution will also contribute towards creating greater stability in cash distribution so that unexpected external events, such as the coronavirus pandemic, affect the external parts of the cash supply chain to a lesser extent.
The Riksbank has therefore proposed that a binding obligation to accept cash should be applied to some operations at least, such as pharmacies. The Riksbank also considers that the banks should be set a minimum requirement for the provision of manual cash services to the general public.

When someone tells me one thing, and I see with my eyes that they do something else, I listen to my eyes, you know?

You realize from the above that I can say the same thing, right?  Wink

LE, I don't know why my quote was not there

And if your government is that powerful, what stops them from just getting the bank data, and then proceeding to fine, raid your house and jail you?
Exactly the things that doesn't look important. They don't have the data. What stops them to get the data are some laws which are going to become useless with a cdbc.
They need to get bank data through Court. It is a small protection , but it is a protection.

Laws that a totalitarian regime will don't give a damn to bend.
The small protection didn't help people in Hong Kong, for sure it ain't helping people in Russia and it didn't do wonders for the truck protesters last year either.
The problem is not the CDBC and it's not the laws, it's that you have a government that would abuse it, and if choose to abuse nothing will stop it, not a court in which it can jail and can replace all judges, not the law it can redefine, not banks that can be raided at ease. The only way out of this is to replace the abuser, the government, not to try and play an endless game of cat and mouse that will for sure end badly.

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