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2861  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.
2862  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?


2863  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.
2864  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.
2865  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.

2866  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.
2867  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?





2868  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%.

2869  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!
2870  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?


2871  Bitcoin / Bitcoin Discussion / Re: #btc Hashrate Reach New ATH a day ago, will the bull run has begun? on: October 13, 2022, 03:38:10 AM
Switch the chart to 6 months, look at how many new ATH we celebrated in the last few months, then go a bit back in time and see that another ATH was in June, what happened after it? Was there a bull run? Is right now a bull run happening cause those red numbers sure don't look like it.
Seriously, why do we keep mentioning these those two things, if an increase in hashrate would trigger a bull run all we would have to do is buy each a miner, and there you have it, magically once we plug those into the power socket the price will skyrocket, because, that's how things work ...in fiction!

In reality, this is gear that was ordered months ago by people who right now are probably hitting their heads against the wall realizing they bought stuff that will OI in 3 years instead of one and that the electricity price is twice as much as the time of the order and companies that went in debt to purchase those overpriced machines. Look at what stronghold is doing:
Bitcoin Miner Stronghold Returns 26,200 Mining Rigs to NYDIG to Clear $67M Debt

I don't think there's yet been a clear reason given as to why hashrate has spiked so much. There's probably a lot of explanations for it though (like excess electricity production that can't be stored might have made some rates lower in countries - such as nuclear power during the night).

Summer ending in the southern US with lower stress on the grid, Bitmain delivering new gear, some data centers clearing ETH miners and having extra room for sha miners, it's probably one hell of a mix of reasons.

and based on your picture its only touch new ATH and then fall again to around 250 EH, to be honest if the hashrate like the price of coin it looks like double top Cheesy Cheesy

Daily hash rate, it's a useless chart as it depends a lot on luck, today 140 blocks can be mined tomorrow 148, still 144 on average but the graph will show a 6% difference and a new spike, one chart that runs on PST can show 150 blocks on that uses GMT can show 145, pretty unreliable stuff.



2872  Economy / Economics / Re: "The times ahead will be radically different from those that we've experienced". on: October 12, 2022, 07:19:59 PM
So today I want to talk about how the world works and how do we deal with it according to Ray Dalio.
Watch full video here
👉 https://www.youtube.com/watch?v=xguam0TKMw8&t=13s

Yeah, I just love how one tries to find a pattern by purposely removing inconvenient facts from history.
If you look at what he has picked, the Dutch, English empires, and the US, it's like you see a pattern there, but if one has barely touched the history books he might remember there were a few more, like the French Empire that almost conquered Europe, or the Spanish Empire that held most of Americas at one point, and if you throw those into the mix the cycles becomes really weird, and if you extend the timeline before 1500 then it's definitely a mess.

Also, what this study forgets to mention is one huge difference between all of them and the US, none of the other empires was safe from the war on its territory, and not even the Chinese were safe since from Mongol to Japanese times we can see that in history. The US is simply out of the way of global conflicts, wherever a ww3 will erupt it will for sure not be in North America, unless somehow Canada decided to invade, which would be probably the surprise of the millennium.
And this brings up the need for defense and the loss of possible revenue, the British had to protect colonies all over the world, the Romans had to protect cities thousands of km from the capital, and France, Germany, Russia, and Turkey all had troubles at the border and risked formerly annexed territories to run amok, in the US, where is this danger? Well, nowhere!

We are part of the changing world order – we see the early decline of American "empire" as well as the rise of the Chinese.

Yeah yeah, my grandfather was promised that in newspapers, and my father was told so on the radio, I'm reading this all day on the internet and I have a feeling even in induced telepathic orgies my grandson will hear the same.
2873  Economy / Services / Re: IF YOU FROM HUNGARY... on: October 12, 2022, 07:00:39 PM
I ask because it is somewhat ironic that you talk about so many scams, and you promote one of them in your signature.

He has lost faith in people since he has seen with his own eyes how many have got scammed by his own advertised services, and judging by the still-appearing posts of users losing money with that casino, yeah it's sure one can lose it  Wink

I don't know what it is about, but if the OP doesn't want to publicly define what it is about, then we can assume that it's not exactly something completely legal. He probably needs some documents for verification, payment to a bank account in Hungary or something similar.

Maybe not even that, he might be fishing for some that intrigued by the request, why only Hungary, then in an act of pure generosity even if you're from Chile he lets you on this secret money-making scheme, he's making an exception just for you, he won't be making as much money as usual but he will share it, seen this kind of bait before, the gullible wanted desperately to make some money will still fall for the temptation.

Am not interested in scamming anyone and yes I still insist. I need money hungry Hungarians to work with, Thank you!

Perfectly worded up, ss I was saying, from gullible greedy eager to help user to a scam victim is only one tiny step, all it takes is on PM and you're done for.
2874  Other / Politics & Society / Re: Will Russia Emerge As The Next Dominant Superpower on: October 12, 2022, 06:30:16 PM
Well.. it is not a simple Russia vs Ukraine battle. Now it has grown to Russia vs NATO battle.

But, Russia was supposed to trash NATO even in an open battle, not they are running away just because the US has sent 5% of their missile launchers, 0% of their tanks, 0% of their aircraft, 0% of their aircraft carries,0% of their submarines and 0% of their troops in battle?
 
How's that 50% getting conquered by April, then 25% then 20% ?
Right now Russia holds 68k km2 conquered from February 24, that's 11% and even if we include Crimea and the DPR/LNR is still below 18%.

Meanwhile, speaking of a superpower, the super profits that some experts were talking about are, guess what...melting away!
I can remember the stupid cheering on how Russia is making billions in profits, how they have trillions in budget surplus how they can afford quadrillions while Europe sinks in poverty, well, as usual, reality kicks in after the last glass of vodka.

https://www.bloomberg.com/news/articles/2022-10-12/russia-s-budget-surplus-is-nearly-erased-as-ukraine-war-drags-on

Quote
The fiscal surplus shrank to 55 billion rubles ($850 million) in the first nine months, from 137 billion reported in the year through August, according to preliminary data reported by the Finance Ministry on Wednesday. Russia’s surplus over the first six months of the year reached Rbs1.37tn as it built a war chest on the back of soaring energy prices.

Superpower, why can't some understand that with just gas and oil the only superpower level you're able to achieve is that of Bartovia?
Seriously rather than sending those conscripts into battles they would be better of investing money into bitcoins and trying to sell their tanks as NFTs, far better than having them blown off.

If one country is cutting the ties the other country is in line to strength the terms with Russia - there is no denial that Russia is a very powerful state.

Overdose of hopium and copium detected, as your doctor should have prescribed, take 20mg of ukrainianum in case you still see red flying midgets around you.
2875  Economy / Economics / Re: Switching The World To Renewable Energy Will Cost $62 Trillion on: October 12, 2022, 06:09:57 PM
Yeah yeah, yeah

Quote
“We do not need miracle technologies to solve these problems. By electrifying all energy sectors; producing electricity from clean, renewable sources; creating heat, cold, and hydrogen from such electricity; storing electricity, heat, cold and the hydrogen; expanding transmission; and shifting the time of some electricity use, we can create safe, cheap, and reliable energy everywhere,” Jacobson says. He is a staunch supporter of the Green New Deal.

We don't need miracle technologies we need miracles in the law of physics and we need somebody to forget it was supposed to be 22 trillion a few years ago and others claim the actual costs are 270 trillion, which looks far more plausible!
These two screenshots are from the German grid:



You don't need to know german to understand that while in the first renewables made 51 out of 66Gwh needed, in the next, they only created 2.7% out of 50GWh needed, so roughly 5%. And Germany, which is 80 million out of 8 billion spent on subsidies! alone ( not overall consumption)  200 billion on this 5%.
As for them being cheaper, just lol, that's why germans are paying only 0.0004 for a kwh now, right? Cause of all that cheap renewables!!!!

62 trillion is definitely lot of money but it’s not much if all those countries launch step by step projects by using the geographical advantages surrounding them. For example, from these numerous countries have big stretching desserts or some of them have coastal areas lengthier than the borders could separate. Using these they can set up giant solar stations, wind mills, hydro power stations etc to collect the energy into single mega station. From this surrounding countries should be powered up.

Electricity is not made out of apples that need to be collected at a warehouse before shipping and you would lose enormous amounts of it as well as spend billions on transformers and cables and towers for a useless cause. In the last two centuries in every country, power facilities have been built where the demand was, not joined together in a useless mega hub that would just waste resources.









2876  Other / Archival / Re: Another Reminder for New Investors on: October 12, 2022, 03:56:11 PM
This statistic once again confirms this and the fact that 99% of altcoins in the long run = SCAM.

I'm challenging those statistics!!!!
Coingecko still lists 132 pages of altcoins, which would mean at least 132 won't be scams in the long run and I heavily disagree with that, on top of that this not counting ICOs that never made it to that list or the ones that have been completely dropped.
So let's raise this to at least 99.6%!  Cheesy

The majority of those altcoins are scams but many survived in the last bear market and bring good Returns for investors, PYR was one of them,

A lot of investors got money from Charles Ponzi and others from Madoff, but that does;t make any of them legitimate businesses.
This is the exact mindset that keep that shitcoins popping up, since I can make money if I bet on the right shitcoin at the right time everything is fine, f^&^ the moron that bought the coins from me as he will end up penniless, it's the revenue you get that matters.
2877  Other / Meta / Re: See this burst poster here. on: October 12, 2022, 03:28:30 PM
Only one solution:
Thermos should definitely bun him!

That aside, you should get a misleading tag also, the spammer was doing posts in 5 minutes intervals, not "last 4 or 5 posts in about a 5 minute interval"
Also, if you have a beef with the account in question you should post from your main account, not hide behind an alt!  Cheesy

Don't drink and post, it's dangerous.

Yeah right, sometimes when I read the new topics some people make and the initial replies I feel like the whole forum is sponsored by Heineken!

2878  Bitcoin / Bitcoin Discussion / Re: The First Bitcoin to USD Transaction is 13 years old today.. Is This True? on: October 12, 2022, 03:06:28 PM
2. Secondly, the BTC5050 didn't arrive in its address from one address, the BTC5050 bitcoins in total was sent from multiple address and each of the address only sent BTC50 bitcoins...
How did this turn out to be a single transaction of BTC5000 bitcoins worth $5 as claimed by the Twitter post?

On top of what DdmrDdmr already explained, those are fresh coinbase coins, look at their history, nobody was mining in pools at that time, and the coins they had were coins mined by themselves as block rewards, hence the clear sheet of 50BTC addresses, the user simply didn't care on consolidating all of them, not with 0 fees. For example 1NAauy83Upy9yYv5zjcjk4hwPRJWnzvX52 it is the same, those 800 coins are made out of 50BTC batches.
Since nobody sold a coin before, doesn't it make sense for nearly all 50BTC rewards to be intact?
2879  Economy / Economics / Re: Central authority can be biased. Referring to TikTok on: October 12, 2022, 02:42:35 PM
I see this as a way TikTok is exploiting poor people with the centralized tradable virtual assets on the platform. What about you, is this not an exploit while TikTok is saying it is the people in the camp that are exploiting the minors (or let us use donators)?

Read the ending:

Quote
After the BBC contacted TikTok directly for comment, the company banned all of the accounts.
It said in a statement: "We are deeply concerned by the information and allegations brought to us by the BBC, and have taken prompt and rigorous action.

This is why I like bitcoin, no central authority is involved, rather than virtual assets that can only be converted to fiat on TikTok.

And? How can you reach those and how they can reach you and how can you multiply those by millions? You will still need a central platform that brings together donors and people who need donations, and who is going to pay for that platform, for the servers for the bandwidth? TikTok is a business, it needs to make money otherwise they go bankrupt like Myspace, Vine or Friendster.

Look at the real picture, if it weren't for TikTok nobody would know a thing about those people and their stories in the first place!


Quote
Hamid, one of the TikTok middlemen in the camps, told the BBC he had sold his livestock to pay for a mobile phone, SIM card and wi-fi connection to work with families on TikTok. He now broadcasts with 12 different families, for several hours a day.
Hamid said he uses TikTok to help families make a living. He pays them most of the profits, minus his running costs, he said.
Like the other middlemen, Hamid said he was supported by "live agencies" in China, who work directly with TikTok.

Hmm, I have a feeling somebody else is doing the real exploiting borderland human trafficking here...
 


2880  Bitcoin / Bitcoin Discussion / Re: Mexico is the next El Salvador? on: October 12, 2022, 02:26:35 PM
Likewise, the Ontario Securities Commission from Canada is planning to buy Bitcoin next year along with other cryptocurrencies. This indicates that not only Mexico has considered Bitcoin as something to behold and own, but Brazil and Canada have also begun to make good plans to own Bitcoin and make it an important asset.

Source:

BTC_Archive is the worse source to seek any reliable news ever!
Just look at what that stupid tweet has made you write, you're now thinking that the Ontario SEC is somehow planning on buying bitcoin, which would be impossible in the first place but what's even more amusing is that the actual source was this:

https://cointelegraph.com/news/more-than-30-of-canadians-plan-to-purchase-crypto-by-2024-says-osc-head
Quote
More than 30% of Canadians plan to purchase crypto by 2024 — OSC head

Do you realize the difference between the SEC buying coins for the government and 30% of the population "planning" on maybe doing so?

The second one is just another proof of what farce of a Twitter account that is:

Quote
BRAZIL: 🇧🇷 We can’t keep depending on the dollar.
- Presidential favourite Lula
👉Bitcoin 😉

No, not a word about Bitcoin, in reality the quote was this:
https://multipolarista.com/2022/05/04/brazil-lula-latin-america-currency-us-dollar/

Quote
If he returns to the presidency, “We are going to create a currency in Latin America, because we can’t keep depending on the dollar,” Lula said in a speech at a rally on May 2.
He revealed that the currency would be called the Sur, which means “South” in Spanish.
Lula explained that countries in Latin America could still keep their sovereign domestic currency, but they could use the Sur to do bilateral trade with each other, instead of having to exchange for US dollars.

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