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2821  Bitcoin / Bitcoin Discussion / Re: Help me out!! Exam-related questions on: October 18, 2022, 05:00:16 PM
From what I see, these questions need quite an amount of research.
So what you thought: paste your questions here and let others do your work, right?

If you want to answer these and keep a standard at exams levels I'm pretty sure you can't do it in under 2 hours, OP is just throwing his entire workload onto people on this forum, and if it were for things that are of general knowledge and might help newbie users I could have wasted a few minutes on them but most of them taste shitcoin targeted specific question which has like zero value overall.
Plus a lot of things are just badly worded as questions or statements:

Quote
16. The stablecoin DAI is as risky as the US Dollar, which it is pegged to. (3 PTS)

For example, you will be tempted to say False, but when saying false in this case it's because it carries more risks, but could be interpreted as you think it carried "less".

Quote
26. The ASIC producer Bitmain will profit from Ethereum’s switch to proof-of-stake. (3 points)
This is just screaming at a wall of text with both pro and against arguments, and it's just like asking somebody do they think Tesla shares will go up. What kind of exam question would that be?

And in part two Q18 looks more like an advert for Filecoin rather than a question  Grin
Anyhow this is indeed 90% altcoin talk, that's where it should go!

LE
I'm really curious, why are some with "PTS" and some "points"?
In both cases, it's like the author got tired at the end of PTS and used points for the last questions.



2822  Bitcoin / Bitcoin Discussion / Re: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 on: October 18, 2022, 03:42:31 PM
Of course, one comparison is current as compared with pre-pandemic tourist levels, but isn't another comparison of similar situated countries to see if the curves look different in El Salvador as compared with other similarly situated countries?  Your not mentioning that cross country comparison angle, seem to be implying that the cross country comparison has similar kinds of curves as the El Salvador numbers, so in that regard, you seem to be suggesting that El Salvador does not stand out relative to similarly situated countries.

Here you go, the same source quoted by Bukele himself previously:
https://www.unwto.org/news/international-tourism-back-to-60-of-pre-pandemic-levels-in-january-july-2022

Quote
Among destinations reporting data on international arrivals in the first five to seven months of 2022, those exceeding pre-pandemic levels were: the US Virgin Islands (+32% over 2019), Albania (+19%), Saint Maarten (+15%), Ethiopia and Honduras (both +13%), Andorra (+10%), Puerto Rico (+7%), United Arab Emirates and Dominican Republic (both +3%), San Marino and El Salvador (both +1%) and Curaçao (0%).

From central America and the Caribbean, you have 7 territories on that list, 6 outranking Salvador in recovery rates!

You can play with the data here:
https://www.unwto.org/tourism-data/unwto-tourism-recovery-tracker
The Caribbean is at 95% and Central America at 92% overall!
2823  Bitcoin / Bitcoin Discussion / Re: Binance Provides $500M Loan for Bitcoin Miners on: October 18, 2022, 03:16:36 PM
If you have faith that BTC will increase at least 10 times (200k USD = conservative estimation) during the next bull run (2025), then repaying those loans is a no-brainer.

Yes, it's a gamble, but more of a calculated risk I would say.

It poorly calculated risk!
Why take a long at 10% interest rate when you could simply take a normal loan from a bank at 5% and buy directly bitcoin if you think it will increase 10x times?
Oh, wait, why even bother mining at a revenue of 6cents/ths when you could dump the gear and buy coins directly?
This is just another profit-grabbing scheme from Binance that will put into bankruptcy everyone who falls for it.

And why doesn't Binance use those $500M to mount their own mining farm?

Because they themselves are not stupid, they look for stupid businessmen!

The Salvadoran government in September began harnessing geothermal energy for bitcoin mining from a factory at the base of the Tecapa volcano, 106 kilometers (66 miles) east of the capital, owned by a company that is part of CEL (Comisión Ejecutiva Hidroeléctrica del Río Lempa)
The plant produces about 102 megawatts, and the government plans to add another five megawatts next year. Currently, 1.5 megawatts are allocated for bitcoin

You actually believed that PR crap?
The news is from 2021 , so it was supposed to happen this year and as you can see, forget about mining with green energy, they were actually setting up a LNG import terminal:
https://www.offshore-energy.biz/bw-tatiana-fsru-in-1st-sts-lng-transfer-in-el-salvador/

1 BTC could be worth the equivalent of billions of $$$ by 2136... so 1 sat could matter a lot by then.

And following this logic, if one satoshi reaches 1 million, how are you going to get your change when buying not a coffee but a car?  Grin

For those asking how much one can generate with this ASIC Bitcoin mining equipment, you expect the profitability of around $12 daily with an electricity cost of $0.1/kilowatt.
I love this Antminer because of its less power consumption and generating a good revenue of about $37.

Don't post crap like this, where did you get your numbers, January 2009?
Current revenue per TH/s is  $ 0.0663, in order to get 37$ of revenue you need around 550Th/s per machine.
And S19(95) at 10 cents kwh making $6.2 while burning $7.8 in electricity so you're not making money you're losing money!

2824  Economy / Economics / Re: Agriculture HODL on: October 18, 2022, 02:55:38 PM
Personally, I used to enjoy doing labor work. I've done construction and labor work in the past. Its not a big deal.
The only thing that sucks about farming for me are mosquitos and biting insects. That's the only thing that would present a challenge if I chose to pursue a full time agriculture career. The physical work would be easy as it wouldn't be as difficult as the job I used to have.
I have a 50 pound bag of concrete outside. I tried to lift it with one hand. Wasn't that hard. I can carry stuff ok.

It wasn't about you not being able to do it but how fruitless (pun!) is this for a guy doing this alone with no investment in machinery!
The plum price for example is around 80 euro cents in store, that's including vat and direct wholesale is earning you 30 eurocents, obviously for a kilo, now erasing any other investment cost you will have to pick up 20 kilos for a post in the cm campaign and about 50kg for an hour of work at flipping burgers at mc donalds.
Quite down from throwing a few seeds and earning 100k while watching Netflix, right?

That's how bad the revenue (not profit!) is, the moment you quit the hobby and make it your daily work it's just survival, and you will never be able to make a profit unless you go big, that means land, that means thousands of trees, that means machinery that can clean a tree in 3-4 minutes with just one guy operating.

Here in the tropics I have pineapple plants that are flourishing with zero maintenance. Some things do well with little care.

And how much is a kilo of something that grows on its own in a region compared to the same price for pineapple you see ins stores in northern Europe for example?
You have to pick one when you're doing the possible revenue sheet  Wink

~

Excellent summary, and still year after year after year I keep hearing of people who want to launch into this business because it's easy as hell, and revenue is through the roof. The good part about this is that once my family will quit and I sure don't plan on taking over it maybe I will find someone who will pay a lot of coins for it.
2825  Economy / Economics / Re: Crude Oil drops below $100 on: October 17, 2022, 10:46:31 PM
China is the first reference for higher prices, giant country with little or no oil. 

China is the world's 4th biggest oil producer, more than Canada, Irak or UAE.
Yes, they import a lot of more than they produce (60/40 ratio) but they do have oil, at least more than Europe overall.

Surprised to see the Brent Crude prices hovering around the $90-92 level. After the announcement from OPEC, I thought that the crude prices would easily rally to $120-125 levels.

Still being surprised by reality?
That Ukraine wasn't conquered in April?
That Russia's 1.7 trillion surpluses (rubles ) in 6 months evaporated in just 3 months to 60 billion?
That Europe gas deposits are 92% full and enough gas not to "freeze" during a warmer than usual winter as it's being announced?
That miraculously despite stupid claims for bankruptcy and business closing Europe has posted record employment levels?
That despite this freezing winter, we are already booked 80% for Xmas and new years' eve in hotels all across the alps?
That Europe miraculously still has sunflower oil?
That we haven't started to use donkey carts as you predicted?

You see, your problem in analyzing things is that you want to find the facts that are allowing you to arrive at the conclusion you want, not how every normal person would think, analyzing reality and seeing what comes out of there!

The driving season is over in the US, and so is it in Europe, that alone is a 15% drop in diesel/benzin consumption, so it's agriculture, so its construction, oil production is the same while everyone is trying to drive less to avoid spending money because of uncertainties, and in what universe when there is less demand for oil does it jump to 300? In the same weird universe where Iran is a superpower! Cheesy

Oh, and you're not going to like the prices of natural gas either, futures just took a -13.262   dump!
Pretty hard times to be an EU-US hater!
2826  Bitcoin / Mining speculation / Re: 2022 Diff thread. on: October 17, 2022, 10:30:56 PM
When people who pay 6 cents and mine with S19s are no longer profitable, we would start to have some nice difficulty drops, we are not there yet.

Wait till January, I know at last a person that will do his part in the difficulty drop  Wink

The current pace is 104% gear prices have dropped massively this week in HK and China.

If it's not that much of a bother, can you quote some prices for the s19s series, used ones?
Oh, and what I mean about prices is not the one people are asking for, if you have some information on the price at which gear is actually bought, not staying 6 months in a warehouse waiting, I need to do a little planning.

The only way it does not happen is the Russian vs Ukraine conflict ends in the next 10 days. As I think that would spark a huge rally world wide.
The entire issue of lack of profits vanishes with 2x 10000 dollar candles.

I can even settle for 2 candles of 2$ if the war ends in the next 10 days, but this is just wishful thinking, no way it will end before spring. The muddy then freezing season is here, the conflict will be frozen and no side will retreat as it knows the other won't be able to make significant gains over winter and early spring, so even without actually battles, it will still last at least till then.
And without really positive news from the economy, I don't see Bitcoin gaining traction either, people are acting fearfully, and I don't see any bull run happening in these conditions.

Quote
Current Pace:   104.2788%  (1124 / 1077.88 expected, 46.12 ahead)

Half gone 4.2% up,  hope of only 1-2% is fading away!
2827  Economy / Trading Discussion / Re: How much gambling is in trading cryptocurrencies? on: October 16, 2022, 01:13:27 PM
99% of it.
The rest of the 1% comes from people who just don't want to admit they are gambling and hiding behind random lines of TA thinking it's different from checking the previous numbers of goals scored in match by a team.

You can't do trading without proper knowledge even if you're a newbie, so can't say, you can trade that based on luck, it should be you're knowledgeable and have skills in trading.
Gambling is much more accessible than trading, you can gamble even though technically you don't have skills in that game.

They are the same, this is the same kind of denial people just part all day to try to make themselves look better and avoid looking at the risks it involves.

The average gambler only knows how to bet on a single or a few events, go and take a look at the gambling board and half of them would have a problem understanding a handicap or a spread and I'm pretty sure 99% of them would need hours of reading a tutorial before understanding a betting exchange and how it works. In trading most of them just buy because they think it's a low price and they sell when they have a profit, some go for leverage which it's petty easy to do, of course 1000x times harder to make money out of it but the reality is that you can place any sort of trade (and lose money) far easier than a lot of sports bets.

Shitcoin trading is gambling, end of it, they have zero reasons to look like anything else, at least with a match there is no way that if Buterin holds a banner with Barcelona during the game the result will change, with crypto one imbecile or one fake rumor and you have a 20% swing in minutes, and no TA will ever mage to predict that.

2828  Bitcoin / Bitcoin Discussion / Re: #btc Hashrate Reach New ATH a day ago, will the bull run has begun? on: October 15, 2022, 01:48:53 PM
No matter what you believe, franky will keep repeating the same nonsense about "minimum mining bottoms", "minimum mining costs", "minimum value", etc. No matter how many times I've argued with him, he keeps saying the same fucking stuff.

Who else but Quagmire!!Franky!
Oh, and btw, I already know his comeback story, in his imagination, every miner with an s19 (not even talking about the guys till mining with s9) has dumped their gear, and they now mine with the latest and most efficient gear, that despite the fact that before that he stated the same once more, so taking into account the time passed nobody would have made an ROI on those and they are already dumping them and buying new ...because that's how running a business looks for some!
Oh sorry, that's how bankruptcy looks like a real business for some!

Every miner knows this is amazing opportunity to gain more coins in the wallet as they reach to the another halving cycle and thus aftermath is risen prices.
I think you're confused. ATH in difficulty is pretty much the opposite of an opportunity for a miner.

I run into this article on the difficulty speculation thread:

TLDR: prices for electricity are so high and revenue so low mining gear is still sealed up in the boxes they've arrived and we have at least 300k of those, assuming the lowest price is 6 million in gear, 30 exahashes at least! It's nearly the worse period for revenue, just one tiny step till October '20, and it might not be that long till we cross it which means we will soon peak in difficulty if the prices don't move.
2829  Economy / Economics / Re: Agriculture HODL on: October 15, 2022, 01:25:51 PM
For example, there is also Grain Harvester which is around $64,500 (old model cost) for direct sell could be rented out at the rate of $15,000 per month. So lets say someone finishes their harvesting in 15 days then they could get away with it at 7.5k bucks.
For the next cycle anyways there will be no use for the harvester machine until next harvest comes up. So its better for that farmer to rent it rather invest that much amount at once or pay same money in the EMI's.

Like this one [ https://www.rentalyard.com/listings/farm-equipment/for-rent/207714809/2014-killbros-1311 ]

So may be it's easy, and we don't really have to depend on the neighbor's machine.

A perfect example of what I was talking about, Disney-style planning and reality.

In your plan you've already identified the supplier, you know the price at which you will get it, you drive to the dealer, you rent your harvester and you're good to go!

In reality, you've just spent $7,500 on a grain cart!!!! Which as the name implies does not harvest a thing!
So, don't you think that the moment you can't differentiate between a gain cart and a harvester, is the moment you should look for another hobby and realize that in the future business planning agriculture and farming are off the list?  Grin

If things would be that simple everyone would be into it, but they aren't, I spent my childhood at a farm, and I've spent more than a decade working again there after my college years for everything, from accounting to actually driving that stuff around, I wouldn't want to go back even if I would have to choose between cleaning sewers with a pressure washer and farming! And you know why? Cause cleaning a damn farm is sometimes worse than a sewer!!!
There is Disney where every animal tends for itself and only comes to you to give you milk while trees and crops grow by themselves and there is a reality where one infected animal and you have to put them all down and one hailstorm and the whole orchard is ruined not just for this season but maybe even the next also!

I think almonds were a bad example.

Everything will be a bad example if you think of making money without work!
If things were that simple everyone would, how do you even say it, not doing a thing and earning money?
But as you can see, it's more and more quitting rather than approaching this field, because it's a risky pain in the ass low margin crap!

That aside, it's one thing growing a few fruits in your 100square yards garden and having this and that and just doing hobby work on them, that works, and it's enjoyable, but a totally different thing to take care of 100 trees. If we weren't a continent apart I would have invited you to come and pick some plum fruits next year, let's see how many 5kg boxes would you be able to do till you give up and you realize you're harvesting fruit at a lower value than flipping hamburgers at McDonald's!
2830  Bitcoin / Mining speculation / Re: 2022 Diff thread. on: October 15, 2022, 01:06:20 PM
As usual, taking notice of it early on is pointless.

Yeah, usually it makes no sense to put any faith in this, and the 20% up was clearly bs, but the previous difficulty went the opposite way:

Quote
https://www.bitrawr.com/difficulty-estimator
Latest Block:   756537  (3 minutes ago)
Current Pace:   110.2033%  (538 / 488.19 expected, 49.81 ahead)

4 days into it also was at a ridiculous 10%, and... we ended up with 13%, so, sometimes the worse fear to come true and so do estimators even 1/4 down the way.
But this time it will definitely cool down the growth, not even dare to hope to go negative but still a 1% might be nice.

Heh, along the lines of miners going online,  came across an interesting tidbit about tons of them sitting around

Don't you hate it when they put the essential stuff in the middle of the article? Grin

Quote
Whatever the exact number is, this much is clear: The economics at the core of crypto are completely out of whack.

Yup, couldn't agree more, and every so-called analyst that will sell those big farmers guys a business plan right now needs to be hanged!

One interesting thing,  did Bitmain just raise up the prices for the S19hydro, yeah 150$ but it's still up?
Old offer:
https://shop.bitmain.com/product/detail?pid=00020220711184847228qGon7r0z06E3
$3,792 Shipping Date: 1-30,Nov. 2022
Current one:
https://shop.bitmain.com/product/detail?pid=00020220809200603918vTN9svY706BE
$3,950 Shipping Date: 1-30,Dec. 2022

2831  Economy / Trading Discussion / Re: Exchange with time limit from orders on: October 14, 2022, 03:19:43 PM
I got to know this on stock trading as GTC (Good Til Canceled) which is the default setting. I was looking for a glimpse of this feature for crypto platform and I found it on Coinbase. Unfortunately, I'm not a coinbase user here so I can't explain in detail how it works.

It's still available for coinbase, you just set the time for which you want to keep the trade open and that's it.
Bitpanda (pro) has the same thing:



Unfortunately, there is a small problem, you can't set the time when it expires, you can just select predetermined values, like expire 1,5,30mins from now, 4,6,12 hours a day or a week, so if you plan on setting it up for an exactly specific moment when you know something big will happen, like a FED announcement you can't do it.
2832  Economy / Economics / Re: Agriculture HODL on: October 14, 2022, 02:58:17 PM
I remember that in my country 5+ years ago chokeberry was a big hit and everyone planted it and hoped for a big profit, and today it is a profitable investment for a few, while others simply failed because the market became saturated with large quantities, along with the price which is quite high. I think the key is to find something that is interesting and that can be sold outside the local market, and for years I have known a man who produces exotic fruits and vegetables, and they say that he is doing great considering that everything he produces is sold mainly on the EU market.

Oh yeah, we had that trend here too, but haven't seen a new one in years. maybe the miracles crop search is finally over!
Ostrich farmers, chinchilla farmers, Paulownia, all kinds of berries, mushrooms, and so on and on.
Of course, the final result was fairly obvious, the prices for those were high because only a couple of producers existed in the first place but when you go on and produce 100 times more demand won't come out of anywhere and the price will eventually fall fo most under the cost. Just like the saying about the gold rush, the ones making more money were the ones selling the pickaxes.

Great, so farmer even gets to enjoy his 5 years tenure to do additional businesses.

Oh no, just no!
It's not planting a few trees and for 5 years you take a beak, you need to take care of them, you need to water them, you need to check for disease or insects or rodents that might chew the bark in winter and the new branches in spring, you need to be careful how they grow and cut branches to keep the right size and the alignment so if you think you're just going to plant them and that's it you're having the same poetic view about farming and that's as far from reality as Disney movies. Not to mention you're going to look at a failure rate, you need to take those out replant, and many more.
If it were that simple everyone would be doing it, and as you can see, not many are!

Not everyone needs to really "buy" heavy machineries rather they can rent it on per day charges basis or whatever is trend in westerns.

You make it sound so easy, but who will lend you a cheap machine that has been bought with a few tens of thousands just like that? We're not talking of a chainsaw that you can take a break from and lend to your neighbors for a few days, these are specialized machines that are being used at the precise harvest time, so the one that bought it will be using it for his harvest and once he is done slight chances your fruits are not already rotting in the fields, and the ones buying machines just to lend them, guess how much they are going to charge extra?


2833  Economy / Economics / Re: Agriculture HODL on: October 14, 2022, 02:38:13 AM
Instead of $10 a pound. We might see $15 or $20. Profit margins could swell significantly due to circumstantial conditions.

Demand and offer!
Just as how instead of $300 per barrel of oil how some idiots predicted we went down to 80$ and they need to cut production to even keep that level once something becomes more expensive it also becomes less sought after, and almonds, pistachios, and every single thing in this exotic category are the first on the list that will be dropped by the average consumer once it doubles in prices, reducing the demand and leaving you with increased costs to revenue ratio and a ton of competition.

Shopping in a supermarket we can see that almond nuts can sell for $10 a pound. When I see this, I wonder to myself how much time and energy would it take to grow 10,000 pounds of almonds to profit a cool $100,000. Does rain, sunshine and the tree do all of the work?

2500Kg for a ha, so you need two hectares (5 acres if I'm not mistaken), but that's our full nuts so I guess three times the area at least.
Of course, you need irrigation, you need pesticides, and you also need to HODL your breath for 5 years till they make any serious fruit!
Still keen on doing it? Not to mention that's the packed resell price, not what you're getting for raw product, add another 10% loss just on the nuts that will be thrown away at sorting.

Also, there is one other huge barrier, you either need costly machinery for harvesting (there are special machines exactly for the above-mentioned almonds) or you have to rely on the quite unreliable available workforce which might lead to complete miss your targets or losing the major part of your product and get you in red from the start.
2834  Economy / Economics / Re: The end of cheap money reveals global debt problem on: October 14, 2022, 02:10:14 AM
The end of cheap money!

Finally! I mean the actual end! The real end!
Not like the previous one starting in 2004! like he one predicted by the Economist:
https://www.economist.com/leaders/2004/04/22/the-end-of-cheap-money
or in 2015 by the same publication:
Borrowers tremble—but the end of cheap credit is not all bad news
or January this year:
https://www.economist.com/leaders/2022/01/29/markets-have-fallen-because-the-era-of-free-money-is-coming-to-an-end

And I can find 100 ends for every goddamn publication out here, don't believe me?. Here is the financial times:
2013 Asian groups struggle with end of cheap money
2017 End of cheap money leaves central bankers lost for words
2021 The Fed needs to call time on cheap money

This cheap money scare looks a lot like the weak hands, once the cheap money gone is gone something, something will happen, once the weak hands are erased from the bitcoin market we hit the moon. Ironically, every single time there is a market scare the blame goes to cheap money being printed and to weak hands panicking.

Quote
Poor countries could explode with anger, as they feel they are the victims of richer countries’ actions. They didn’t flood the world with cheap money, they didn’t get many vaccines to help with the pandemic, they didn’t cause the food or energy crises – and they are not to blame for the climate crisis which is hitting their countries particularly badly.

Oh yeah, let's throw in blame the west bs to score some points and make a few curious about what's this guy about, and since he's posting his Twitter links in his article, @hugodixon, oh just be amazed of what is morphing there

Quote
How can we combat mental illness, fight bigoted populism and save the planet? Put meaning at the heart of our culture. That’s the gist of my Tedx Talk in Athens, which criticises our liberal democratic culture as too materialistic and hedonistic.

That's the problem guys, we should go back to our caves, our sole possession a stick and a club, and save the earth from our corrupted hedonistic culture.
2835  Bitcoin / Bitcoin Discussion / Re: #btc Hashrate Reach New ATH a day ago, will the bull run has begun? on: October 13, 2022, 09:08:44 PM
when the hashrate was in the 220exa region at the first half of the year. the mining cost bottom was about $15k

Oh really, 15k?
But, but, there was one guy called franky1 who said that during the first part of the year at 200Exa the cost is impossible to go below 28k...

if you do the math.. at the $0.04/kw and the hashrate now.. its about $29kish/btc..
value is not TODAYS mining cost of ~$28k-$29k in cheapest regions

i was talking about the bottomline.. the ultimate bottom. (emphasis when i said 'no one on the planet')
yes someone in iceland/kazahkstan can mine bitcoin for $25k/coin. but there is no one below them that can mine for less

Since you obviously know what you're talking about can you do me a favor and teach this guy who I've quoted above to keep his mouth shut when it comes to mining costs or mining price or anything related to mining as it's clear with every post he makes every month that he has zero clues what he's talking about?

And he kept on babbling about the minimal cost from 40k to 35 k to 30k to 25k...and he keeps on babbling , he just can't stop

so lets imagine a scenario:
network was 200exahash
~
bitmain now have an average cost of $31,350/btc so wont sell for less than this.

2836  Economy / Economics / Re: Made in America is back, leaving US factories scrambling to find workers on: October 13, 2022, 08:13:43 PM
What a great problem to have.... not having enough "skilled" people to fill all the jobs that are being advertised by these countries.

The same problem here in Europe:
Quote
In the EU, the employment rate of people aged 20-64 stood at 74.8% in the second quarter of 2022, an increase of 0.3 percentage points (pp) compared with the first quarter of 2022.
we have hit record employment levels since the founding of the EU, roughly 8% up in a decade and with enormous room for more!
And to make things even more interesting this whole statistics don't take into account foreign citizens that don't have a fiscal residency here but still work in European companies. The labor market in Europe has managed to absorb 400 000 Ukrainian refugees who have found a job, that's how desperate we were here for hiring, you're human and you know how to communicate you can get a job for sure, there are hundreds of companies who are resorting to paid training months, just sign a 24 months contract that you won't quit and they are ready to hire you and pay you even in the first 3 months you're learning how to do your job.

So much for the death and destruction of the US and EU economies.

This sounds very optimistic and upbeat.

Yeah, quite a different thing around here where there is doom and gloom and only talk about crashes, recessions, new world orders, bankruptcy, and other collapses. God forbid there should be a discussion about good things happening, no way, there is no such thing!!!

In the US, it's probably true that manufacturers are having a hard time finding workers--and the reason might be because of what the article says right in the beginning, that so many companies have been outsourcing for so many years that schools don't even train kids for jobs in manufacturing anymore.  I'm not 100% that's the case, but I don't think people in their 20s-30s in the US are going to be looking to work in machine shops or on assembly lines, even if they have the skills to do so.

Manufacturing in most big companies has stopped for a decade being about physical labor, and assembly lines made out of hundreds of workers gluing stuff together are becoming and have become in most cases a thing of the past. I can give you an example like the tire factory my cousin works for, they are hiring about 1000 people and 80% of the jobs are hybrid, most of it you can do from home, R&D,  engineers for safety mechanisms, architecture, developers, testers, etc I think the ratio of brain vs muscle needed is 20:1 at least.

Quote
“We often take a look at the images of manufacturing and we see the sparks flying and a welding environment and perhaps it’s a little bit dingy, dark. But by and large our manufacturing jobs today are high tech,” said Eric Esoda, CEO of a not-for-profit providing consulting and training services to small- and mid-size manufacturers in Northeast Pennsylvania.
2837  Bitcoin / Bitcoin Discussion / Re: BTC NOT BACKED BY ECO SYSTEM on: October 13, 2022, 07:43:46 PM
Quote
Eth and other major alts have asset backing and real use cases. For example - for eth; smart contracts can be used in contractual deals.
Specially alts have eco system. Btc does not have.

Probably your friend has the wrong impression of what a true economical ecosystem is.

Smart contracts can be used in some deals, but that doesn't mean they have an ecosystem it means they have applications for it, an ecosystem is a situation where each of the parties involved is interdependent on the other and can influence them, there is no real business other than some stupid jpg game that has anything close to resembling such a thing. Just because two people might want to make a deal that would be replicated in a smart contract doesn't mean they are forced to do it or they don't have the option of completely ignoring smart contracts and preceding in a traditional way, just as the entire world is doing right now!

None of those businesses (tokens) are matching one of the main points in the definition, and that is a "constrained" space limited by borders or laws, just how tether can issue tokens with the same value on Tron and ditch Eth without a fuss all those systems can be recreated in an instant within a different border. None of the said parties is completely interdepended of the other one.

Furthermore, 99% of the altcoins there are just participants in this mess, issuing tokens on a different chain, what's the backing they are receiving, at the end of the day every single token altcoin NFT and even Bitcoin is backed by only one thing, the trust of the people who would spend x amount on it, thinking that that's how much they are worth it, nothing else. Crypto kitties were valued in hundreds of thousands of dollars, now they are worth pennies, what's their backing power?





2838  Economy / Speculation / Re: Bitcoin doesn't like high inflation either on: October 13, 2022, 05:57:25 PM
I knw I had one of these opened, and what  a surprise again,

Bitcoin Sinks After US CPI Report Shows Inflation Hotter Than Expected

Quote
Bitcoin (BTC) tumbled nearly 3% in the minutes after the report to its lowest level since Sept. 21. As of press time, the largest cryptocurrency by market value was changing hands at around $18,400. Crypto traders track monthly inflation figures closely, because the Federal Reserve’s efforts to temper soaring inflation have pushed down prices for financial assets seen as risky, from stocks to bitcoin.

The moment the inflation prediction was missed by 0.1% BTC again tumbled 3% in a flash.

Lucky for us seems like Bitcoin has become so correlated to the stock market it follows it in every step, just after the plunge all the markets rallied on the premise of FED reaching the peak of their intervention, DJI by 2.2%, SP500 by 1.9%, and Bitcoin also came back to the previous day values, recovering almost 4%.

2839  Economy / Economics / Re: Uber Doordash plunge after regulation proposal change to worker classification on: October 13, 2022, 05:38:07 PM
Obviously it’s good for the drivers but bad for the company or investors.

And for everyone that was using it since obviously the cost will increase, with everything becoming more expensive some cleitns will stop ordering o using the car-sharing service and in the end with fewer customers, the drivers themselves will find themselves with benefits but, out of work! Carsharing services have put traditional taxis on the verge of bankruptcy because there were more affordable, easier to order and the pay was better distributed, now since they know better, they will ruin this too.
In the end, the only ones happy will be the stupid ones in congress who will declare victory for the worker against corporations!

This feels like it'd just be an extra tax paid by those companies too and paying an extra 20% on fares or delivery costs doesn't sound too bad

Yeah, this is how it all starts, a little tax won't hurt, a little more tax for unemployment won't hurt as there are benefits, a little more tax for healthcare won't hurt, and add another few percent as all that money comes back to the population through government spending and soon we're going to reach levels where a company pays 90% in taxes and 10% in wages, we're already at 50/50 here, so if for example, my company would want to increase my wage by 500 euros they would actually have to pay 1000 as another half goes to the government, for, stuff!
2840  Economy / Speculation / Re: BTC price drops as US inflation reaches 40-Year High on: October 13, 2022, 05:10:11 PM
Your explanation still doesn't make it any clearer because ordinarily one would expect that people will find a safe haven in Bitcoin or any other financial instrument like gold to hedge against inflation.

Expectation versus reality and now everyone has had a full cycle of 4 months of cold showers of reality

When the fed increases the rates to combat high inflation and there are signs of a possible recession happening people don't rush to these, first because the lower class which is the most affected can't spare the money in the first place, the middle class seek far more secure and guaranteed investments like bonds and the ones that still have money they re already tied in the stocks, so you won't see them selling in a bear market to lose money to drive the price up in a thing that's already in a bear market.
Time for everyone to acknowledge facts, when people are faced with huge bills coming in or with the perspective of losing jobs the last thing they think of is investing the little money they have in some assets that for a lot of them is still quite hard to understand.
Furthermore, if you put money in gold or bitcoin to hedge against inflation, once you're out of money, what do you do? Not taping into your reserves, as that's why you invested in the first place, to have a cushion once your expenses gain the upper hand over the income?


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