861
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Economy / Trading Discussion / Re: Printing 10 quadrillion Euros against 10 quadrillion USD by 2025 is a challenge
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on: October 27, 2023, 02:42:18 PM
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In order to maintain the value of the dollar, it will be necessary to print the same number of euros and other currencies against it,
Except that it doesn't work like that! If it would you would see the dollar tumbling against other currencies when as you can see it looking at every chart it's trashing every pair despite being the most printed one. I really wish people would make the effort to understand things before coming to stupid conclusions and before typing such things think for a moment if they are actually true and reflect reality. There are a ton of misconceptions, such as a government printing money obviously triggers inflation, which is not always the case, see Japan for example which is in deflation despite increasing x7 times the monetary mass and Turkey experiencing 60% inflation despite printing less than Japan by 2 times compared to GDP. US printed 3 trillion in 2020, if what you think would be true we would already have had to see the $ collapse against every pair by at least 20%, it doesn't! Do you know who else printed money at a rate of 30 billion per year? BTC did! Somehow it's not stopping it from going higher, I wonder why!
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862
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Economy / Exchanges / Re: Exchanges allowing fixed monthly investment in BItcoin
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on: October 27, 2023, 02:28:37 PM
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What are some good exchanges allowing fixed monthly investment in BItcoin? I need options where my funds will be secure.
I recommend FTX, 1.5% APY! More riskier 6% APY on BTC on BlockFI! A lot of good feedback on 6.3% over at Celsius! Of course, everything beats a 0% APY on beyourowndamnbank, but there are some morons that still do it and place their coins there with no return! Do I have to add /S ?
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863
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Economy / Economics / Re: World Government Bonds, Yields and Inverted Yields
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on: October 27, 2023, 02:22:40 PM
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But, for people like us? Bonds mean nothing, in most cases it is even worse than the bank rates, so why would you want something that is even worse than the bank rates?
Because most countries in that list have never failed to pay their debts in the last century!And if they do so, you're screwed anyhow! Some prefer security rather than gain, you can indeed make a ton of money from investing in Bitcoin but if you fail to do it at the right time? Buying coins last November would have gained you 200%, buying the previous November and you would be at a 50% loss, some just down want to play with this and are aiming for security and a way to easily get their money out of it at any given moment! When you ask yourself why some do what they do, you have to stop thinking as a Bitcoiner, it makes no sense to try to understand people when your mind is fixed on this, this is why gold bugs don't get Bitcoin, this is why oil investors are thinking the solar industry is doomed, some people don't understand another kind of investment and they don't want to ever do, they are happy as they are and that's it! Now, to make things far more interesting, do you know what backing 70 billion out of 85 billion in Tether? You might get lucky with a 10% APR yield bond. Or that countries economy might implode.
Some Argentinians look tempting, 22 cents to $ right now, you could easily make 4x...assuming Argentina pays its debts and you don't get killed by a flying pig.
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864
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Economy / Economics / Re: World Debt Clock by nations.
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on: October 27, 2023, 01:51:59 PM
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Gold demand is the most shocking one to me, there are some rich nations that doesn't really demand gold apparently, I wonder what other method they prefer? I mean if you are a rich nation like for example lets say Norway, and you are not in the gold demand but you are in the list and have a high GDP as well, then what is it that you are requiring in that situation? They could demand a lot more gold than many other nations in that list but they are not, which means that they must have figured out something else that they could request, what is it?
Gold demand for reserves is just 1/8 of the total gold demand, at 22 million ounces is just 40 billion globally for all CB, Norway made $50.2bn just in 2022 from oil and gas, and Apple sold $205.49 billion of iPhones. Even for countries that buy a lot of gold compared to others, the numbers are just tiny compared to their whole economy. What you see in India and China is just domestic demand, people like gold, people like jewelry, just as in some parts of the Middle East, in Japan gold jewelry for example has no traction whatsoever, nor does it in Northern Europe. As for what they use the cash for is mostly direct savings in savings accounts, treasury bonds and pension funds. Saving money via rare metals is a pretty scarce method in Europe, and if they do they do it in the form of jewelry, not bars! With a >135% public debt ratio, should I start thinking on moving from Spain? (definitely not to Portugal, with an even higher ratio...).
Or you could move to Nigeria, it has only 21% debt to GDP ratio, but somehow I think this might be misleading. Just to make sure, go to Congo, it has only 16%, I think you will have a way better life there than in Spain... This sort of debt clock is a bit of a joke really, but it makes good entertainment for some people it seems.
It has always been like that. If I'm indebted to you $100 000 , I have a wage of $100 000 a year but I have $600 000 in savings, am I in trouble? I'm pretty sure Japan is taking notes about managing its debt from Afghanistan which has only a 7% debt-to-GDP ratio, I heard they are moving their entire Gundam production line there!
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865
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Bitcoin / Bitcoin Discussion / Re: UK passes bill to enable authorities to seize Bitcoin used for crime
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on: October 27, 2023, 01:30:50 PM
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The majority wants Bitcoin to be accepted by everyone and everywhere, but they find it strange when it comes under the same rules as everything else that can serve as a tool for crime. Does it make any difference whether someone seized Bitcoin, a bunch of fiat, or a medieval castle? Well, you can't really put the castle in your pocket, but you understand what I mean How dare you, you mean a tool that gets away from the power of the government, that lets' you deal in transactions without a third party, that is pseudonymous, that can help you transfer value in a split second across the glove, help you go through customs with millions on a 2x2 piece of paper is not going to be used only by grandma's on Sunday making church donations? I call this blasphemy! Seizing is stealing but in a legal way. ~ It's nothing but a wordplay used by the authorities to distinguish between the same action done by you and a lawman.
Seizing is freezing assets, nobody is taking your assets with a seizing order, that is confiscating and it can be only done with a court order. Anyhow, seizing and confiscating Ilya Lichtenstein and Heather Morgan's coins was stealing?
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866
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Bitcoin / Mining speculation / Re: 2023 Diff thread now opened.
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on: October 27, 2023, 01:19:17 PM
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You can change the price of the kw/h as you want, the link (above shows the profit with a 0.1usd per kw/h by default.) With the current market price, it would take nearly 3 years to hit ROI at 0.1usd per kw/h.
My opinion, but anyone who plans on mining with a flat rate of 10cents/kwh is just asking for trouble! Those websites should start making their calculators by default in cents per kwh! A machine at a price that won't ROI even with free electricity before the halving is a no-go for ones at cheaper rates, I might be the pessimist here but if you're above 5 cents don't even think about it, go for the coins and that's all. Of course, we're excluding people with special deals here, that pay a bit of their electricity at said price but recoup them in government credits or any other financial reimbursement scheme. 3 days left, unless an asteroid hits Riot or Mara no chance for me to win this, so most likely a play between the 2% guys!
Have faith bro, the pace has dropped like a dead body since the time you posted I'm getting good at this kind of manipulation! But honestly, I'm surprised, probably because I'm more impulsive I would have expected this jump in price to trigger more of that overclocking and even bringing a bunch of old hardware online again, munching on every bit of extra power a facility has. 1.4% is....disappointing I would say! Taking into account the time delay, I will say it even before the next period begins, unless the price retracts I don't see an under 3% adjustment next time.
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867
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Economy / Economics / Re: World Debt Clock by nations.
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on: October 26, 2023, 04:29:24 PM
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Again one of those alarmist charts where the world is doomed, the US will turn poor, the soveits will reign supreme as.... Yeah, 89 garbage being deflated over and over! Instead of focusing on GDP one should focus on those tiny letters no doomsday lover wants to mention, so let's look at both the current one and the 2000 chart! https://www.usdebtclock.org/index.htmlhttps://www.usdebtclock.org/2000.html2000: Debt per citizen, $19 000! Now Debt per citizen $100 000! 2000: Assets per citizen, $190 000 Now Assets per citizen, $650 000! So, if we look at assets - debt per citizen we had 2000 > $171 000! Now > $460 000! Clearly, the US is doomed!!! Imagine your assets after debt tripling in 20 years, clearly a sign of a catastrophe, probably triggered by this wave of sarcasm!
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868
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Bitcoin / Bitcoin Discussion / Re: UK passes bill to enable authorities to seize Bitcoin used for crime
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on: October 26, 2023, 04:18:20 PM
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Who is seizing stolen and bitcoin used in illegal activities before in United Kingdom?. Aliens?
Police, simple as this! What makes you think this is something impossible? The confusing part of this, and this is again Cointelegraph's fault for such a stupid title is that it has always been like that, the difference they should have pointed New UK law grants authorities power to seize crypto without arrest
One such measure is the expansion of law enforcement's powers to seize digital assets without requiring a prior conviction, which will allow authorities to act swiftly in cases where there is strong evidence linking cryptocurrency to criminal activities.
If anyone is interested: https://bills.parliament.uk/bills/3339/publicationsthe US claimed they are releasing back to the bitcoin network while some claim they are selling them out in auction,
It's not a claim, it's a fact! Open auctions, fully documented, you even have interviews from the guys that bought those coins available all over the Internet. You can even join one such auction if you're a US citizen, there is nothing suspicious or god knows what other conspiracy about it! So it's like robbery, then. They just take your coins and pin you with no crime whatsoever, as long as they believe that you are related--or at least your coins are--to any illicit activity. Sounds super convenient to them.
How many times have you walked on the street and got stopped by a police unit arresting you and confiscating your 10 phones, 10 kilos of PBX and 10 000 coins you have no receipt for and got pinned a crime you have no clue on you? Besides, it's seizing! Seizing does not mean confiscating, that can ONLY be done with a final court verdict in the UK! Unless you're proven guilty in a court of law they can't " rob" you of your coins! When we have laws about seizing coins, why do we have them, it's turning the country into a police state! When we don't have laws to punish or actively seize funds like in the Do Kwon case, it's the state's fault, those damnd laws are so permissive!!!
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869
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Bitcoin / Mining speculation / Re: 2023 Diff thread now opened.
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on: October 26, 2023, 03:41:52 PM
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Current Pace: 102.4318% (1499 / 1463.41 expected, 35.59 ahead) 3 days left, unless an asteroid hits Riot or Mara no chance for me to win this, so most likely a play between the 2% guys! While this one will still be an average jump we need a ton of popcorn for the next two, the price jump is as I speak is 17% on the week and 29% on the 30 days interval, assuming again crazy investors who don't know a thing about the risks and just throw money at everything smelling of money prepare to see bitmain being sold-out! Looking back at the start of the year, I have a quote from Bitmain prices: 141T 3031.5W 21.5J/T Price/Unit $6,486 stock (btc at 24k) vs now 141T 3031.5W 21.5J/T Price 4,653 $/Unit
Any chances of them jack up prices over $50/th?
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870
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Other / Meta / Re: Why is Halloween not being celebrated in our forum yet this year?
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on: October 26, 2023, 03:24:01 PM
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I can literally see the disappointment of those who have registered a bunch of alternative accounts, expecting quick fishing for merit. I've seen discussions in some of the most active local sections of the past year, and I'm willing to bet that's where there's a lot of anticipation and impatience.
Quite funny to see people who have never actually celebrated this being so eager for the forum to have another competition. Now, what are the chances of this "newbie" explaining to us the history of Halloween actually committing some plagiarism or at least some text spinning? The first day of November was celebrated by them as New Year or 'Sah-win'.
Somebody copied and pasted the pronunciation instead of the name! True, but this contest can be fun and they bring a lot more activity in forum. Last pizza making contest had some worst a antu-Italian pizzas I ever saw in my life, made with potato, lemon, etc As disgusting as that thing is for me at least, pizza con patate it's actually an Italian dish! Pineapple pizza, that's an insult to food!
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871
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Economy / Reputation / Re: Question about signature campaigns - paid advertising, or personal endorsements?
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on: October 26, 2023, 02:59:08 PM
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Simple response: Complicated one Normally it should be seen as a paid advertisement, but what happens when there is bias involved? We can take for example a very long-running campaign I was a member and did not make any demands on where we post or quota post or use bumping power yet a lot of the members including myself when finding a topic where someone was asking for advice on mixing coins we would, not surprisingly, recommend the above not to be mentioned again service which after 6 years it ended as we all know, Was that post which recommended the service personal endorsement, yup, it was! Would one person carrying a competitor sig have made the same? No, let's not kid ourselves! Would we have recommended another one and not CM? Again, let's be serious! How many users carrying a sportsbet sig would say in a topic, hey!!, roobet has better odds, 2.5 instead of 2.25 on this event!
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872
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Economy / Economics / Re: Nigerian naira hits record black market low of 1,100 per dollar
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on: October 26, 2023, 02:26:03 PM
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I was looking at the official exchange rates. The decline is somewhat modest during the last 20 years. Two decades back, the exchange rate was 1 USD = 138 Naira, and now it is 1 USD = 818 Naira.
Oh yeah, losing 84% is not a big deal, I remember how the Euro was going to die because it dropped 10%. Even here in India, the INR has devalued from 1 USD = 31.42 INR to 1 USD = 83.23 INR. The USD is simply too strong for the other fiat currencies.
In exactly my previous post on this forum, I was denying the fact that karma existed, but I have to retract that statement... How are those donkey carts doing? You have nearly the same petrol prices as Slovenia and Poland for 5 times the lower wage, sounds pretty expensive to drive a donkey cart! But you can always switch to Yuans, after all, that's why the BRICS love exists in the first place isn't it? It's very frustrating seeing this happening in this trying times, things are getting worse everyday and the current government aren't doing anything effective to fight the fall of the Naira. The government don't care because they mostly have their wealths and investment in foreign currencies. It's the masses that are suffering and things aren't going to change because the election system is rigged. The next coming president will still be won by the highest bidder and nothing can be done about it.
This fatalist mentality is what will guaratee that nothing will ever be done! We can't do anything because the system is rigged so we won't do anything and just let it be like this till...till when? This is what wikiepdia gave me for the last elections Registered 93,469,008 Turnout 26.71% Basically, the guy won with 8,794,726, which is 6 times less than the ones who didn't want to vote! If everyone had voted he would have got less than 10% and if the undecided would have backed 4 different candidates each of them would have got 20%, double that of this guy!
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873
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Economy / Scam Accusations / Re: [Warning]: Fake Emergency aid to Gaza website
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on: October 26, 2023, 01:49:35 PM
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This also remind me of the Russia-Ukraine war where scamners created several fake donation avenues. Some even launched cryptocurrency token whereby anyone who buys into the ICO will be supporting the people of Ukraine. A lot of people actually fell for them before they realized it was all scam.
Not only that, even the pandemic and disasters like earthquakes, this scammers are going to create fake donation websites to lure people who at heart wanted to help. So this scammers are taking advantage of the psychology about empathy. Scammers will not stop at anything when they know they can get money easily without doing anything other than writing fictional stories. There are these low scammers with fake websites and there are others who go live on TV and gather support with fake stories about their life or their fight against some abuse. Somaly Mam is one such case, and she even managed to get a discourse at the UN : https://en.wikipedia.org/wiki/Somaly_Mam. Her husband's slipup is pretty telling: When you work in this world, you know fabricated stories are used by everyone to get funding
You will never get rid of them, as most donors will say, even if maybe it's a scam I'm planning on giving away the money anyhow, so if there's a 50% chance it's legit then it's good, if not, I'm not losing anything anyhow. Maybe they will have money from this scam attempts, but who knows, maybe karma will come and get them.
If some godly power like karma existed in the first place then we would not have a need for donation at all. And you can see even in the crypto world, from Mark Karpeles to the lowest $10 scammer on the forum, karma is taking a lot of time to go into action.
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874
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Other / Politics & Society / Re: The world economy and global systemic terrorism.
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on: October 26, 2023, 01:34:08 PM
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You have started a great topic, in my opinion, Terrorism has great impacts on the world or country-level economic confrontation. For example, we Pakistanis are not welcomed in India, even our cricket team hated to go there (not by us but by Indians, and not every Indian hated it, but most did). It does not mean that we are terrorists and did great harm to India, its because of some central authority, we call them (saviors of democracy ) they managed to get some thugs (paid one) to change the environment of the country and change the emotions of one country's citizens against other. Seriously? /s And there is a guy here who posts all week long how the east is united in its fight against the west! India and Pakistan can't stand each other Vietnam and the Philippines see China as the biggest threat they have ever faced and rather than being united they can't stop a moment from finding a way on how to backstab each other! Everyone needs to take a chilling pill and do this: This is what a border should look like! real question is: how much of an impact does terrorism in the modern world have on the economy?
Depends on what economy If you're a terrorist state, it doesn't matter how much oil and resources you have you will end up dirt poor as nobody wants do deal with you and the ones that still do are just there to fleece you since they know you have no option left. When you build drones instead of building homes and all you spread is hate, then poverty comes back and this is the outcome: Per capita $4,233[7] (120th) Same thing for Russia, their plan is not on improving the life of Russians , their plan is making others suffer just as much and it failed already so many times in history I don't know how more than brain dead you have to be to think it will work. It's quite disheartening that such things happen. Humanity has been zeroed to nothing because of the need for power. It has been like this in the beginning. Which shows that civilization; Western or Eastern can't stop war.
We have stopped killing ourselves for 80 years here in Western Europe this after being the bloodiest continent ever where if we do a genealogical tree I doubt you can pick a hundred guys whose ancestors haven't at one point killed raped buther or executed each other. So you can end wars, all it takes is for the people themselves to want to end it, no dictator is sitting on his cloud and doing all the fighting, when you have a massacre in Africa or Asia it's not some leader or politicians doing all the killing, it's the soldiers, thousands so them who are simply killing each other.
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875
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Bitcoin / Bitcoin Technical Support / Re: [Oct 2023] Fees are low, use this opportunity to Consolidate your small inputs
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on: October 26, 2023, 01:12:14 PM
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I guess it has to do with the amount of transactions received by mempool.space's nodes, but why was it so high? Is it just that nodes were rebroadcasting purged transactions? It doesn't seem very reasonable to me, but I can't find another reason. Any insights?
Consolidation, ordinal minting, it happens all the time, normally you can just go to the next blocks in the queue at mempool.space and see what they are made of it. In 99% there will be some large blocks linked together and pointing to the same address This one was from the last spike back in mid-October: https://mempool.space/address/bc1qthdpgxj73uxumw887ra78pxqj5qy7pt9gf5su5And nodes rebroadcasting purged sanctions would not make sense since purged ones are low fee, in your graph all the new ones are higher than average fees, with the base in 1-5 sat range basically unchanged! After several days of fees around 20+ sat/vbyte, at the moment 2.1 sat/vbyte is likely to get you a quick confirmation. I guess it was Bitcoin's quick price increase that lead to an increase in transaction numbers.
I would blame it more on the luck in block-finding 135 blocks in the 24h interval 3 days ago, 159 a day earlier, that alone is a ~24vM variation.
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876
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Economy / Economics / Re: Nigerian naira hits record black market low of 1,100 per dollar
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on: October 24, 2023, 04:55:49 PM
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Every currencies are highly facing inflation, 1 million dollars in 1985 is like have 30 million dollars today, even the dollar is facing the same fate but the dollar is a very valuable currency over Naira so yes people will see it as a safe haven to avoid inflation.
Where do you get those numbers from? A 97% devaluation of purchasing power? 1 million in 1985 would be 2.87 million now, nowhere near 30 million. https://www.mclib.info/Research/Local-History-Genealogy/Historic-Prices/Historic-Prices-1985By that metric, a 2l bottle of cola would have to be $30 now! Gas was $1.12 it's $3.5 where is the 30x coming from? Let me put the naira into perspective, in 1985 the rate was 0.89, and now it's 1:1000, losing 1000 the purchasing power against the usd! Anyhow the government seems to be on the right path to de-dollarization, in 2-3 years nobody in that country would be able to afford even one 1$!
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877
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Economy / Economics / Re: Isreal and Palestine war and losing your wallet phrase and password
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on: October 24, 2023, 03:42:11 PM
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There were numerous experiments with how people memorize things and excluding elements from memory is normal, so translating this to bitcoin seed phrases, if you happen to have a thing like: cabbage grape jealous banana your brain will try to associate the three words that are vegetables and fruits which would lead overtime with losing the 3rd word in the sequence.
I bet you have memorized some lyrics that you learnt at school and you still remember them exactly. Well, at least I believe. I would say that memorizing is not a bad method if person tries to memorize it every day and still repeats it even after being confident. By repeating the same words every day for months and more, you will remember it so well, you will be surprised. But I think all methods should be individual, I don't force anyone to follow this one cause I don't know their cognitive abilities but I just think it's not as bad as people say. Lyrics! Lyrics have logic and are easy to imagine or to capture a feeling: I, I go my own way I swim against the stream Forever I will fight the pοwers that be The eagle flies alone logic and easy to remember replayed 10 times! Now when you try : foot ball wolf pledge obvious arch penalty Your brain will try to first relate the two images, foot and ball, so the image of you kicking a ball, wolf comes easily, you kinking a ball at a wolf , easy to remember, then you get pledge and obvious and arch at which you will realize as you read your brain can't make a logical picture of it, easy to test as you will automatically try to delete the first picture in your mind to come up with a new one based on the next words only to relate again penalty to foot and ball. Just pick any seed phrase and you will see how easily your brain imagines the first 2-5 words only to struggle involuntarily as the list goes on to create some logic. This is not specific about bitcoin or a seed phrase, this is how our brain works. we're just bad at creating and memorizing random data, tests of this kind have been done for decades, and the conclusion is always the same, we're not built for it!
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878
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Bitcoin / Bitcoin Discussion / Re: 7,000 bitcoins locked on USB stick. Owner not rushing to unlock them
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on: October 24, 2023, 03:16:06 PM
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Omg, he must be telling a lie, because if he would really had those BTCs then he would not hesitate to share the BTC wallet address. After all, we can check on any explorer that either he has those BTC or not.
Why? Why would he need to show a complete stranger on the internet he has those coins? Seriously, nobody needs to prove anything to some guy they don't even care, what would change for him if you would trust his story or not, he's not asking for money and he has refused help since? Again the same thing, we always talk about not disclosing your identity, not talking about how much you own and the first thing after that is demanding from their addresses, their wallets, and why not, their home addresses and where they keep their private key? Anyhow, the announcement is here and you can check yourself the bounty he won then and the funds if you care that much!
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879
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Bitcoin / Mining / Re: Which ASIC miner to choose for Bitcoin Mining?
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on: October 24, 2023, 02:04:44 PM
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At OP & others: Getting waayy of the section topic folks... Lose the crapcoin bullshit as it has NO place here. Ya know - BTC only section and all...
Huh? Do you even know what you are talking about? I am somewhat puzzled and haven't gotten you enough yet. Sorry to say but accusing Fuzzy of not knowing what he is talking about in the mining section is a sign you're on the wrong path. It's simple, as I said before "helium mining, chia mining...shitcointalk!", any talk about how one of those is best for mining is altcoin trash. Today, I woke up and saw Bitcoin touched the 34K range while it had been between 25K and 29K for the last couple of months. But it's hard for people like me to continue the business with such electricity costs. I didn't even start, so why am I thinking about continuing?
Doesn't make sense! Revenue (not profit) is up 30%, even assuming you were on flat zero profits mine just to get clean no kyc coins right now you would be in profit. If before you would spend 1$ for 1$ now you're making 30 cents profit, so your assumption is completely flawed. The hydro you quoted at the start jumped from making 30 cents at 12 cents/kWh to $3.38, I honestly don't know how you could picture somebody who has been mining quoting now, it doesn't make sense! I anonymously contacted some miners who were attempting to sell their ASIC but unfortunately, when you talk with a seller, they won't give you the correct information.
Speak with Mikeywith!
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880
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Bitcoin / Mining / Re: Which ASIC miner too choose for Bitcoin Mining?
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on: October 22, 2023, 06:12:11 PM
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If you have Bitmain Antminer KS3 and you pay 0.20 cent/kilowatt, then your net profit will be $109.96 but if you have free electricity, your net profit will be $127.00. You see the difference? KS3 is a great choise for absolutely every person on the earth, so, it's price will increase and ROI will decrease .
vs It's the worst decision to buy Kaspa miner right Bruh! The law of economics will dictate everything, if a gear makes 10x times more than another everyone will plug in that gear, once 10 times more people have done so both algos are going to be on the same profitability rate. The only thing that distorts this image is the volatility in crypto and the fact that manufacturers can't keep up with it, if today you could enter wallmart and buy a KS3 I could tell you that the hashrate would be doubling in a day. It's the same story, helium mining, chia mining...shitcointalk! You have two options in mining: 1. If you don't have cheap electricity, buy a miner that consumes less energy and generates more money. 2. If you have access to cheap electricity, buy a miner that consumes as much energy as possible but also generates as much money as possible. Usually, you'll find miners that consume a lot of energy in cheap price.
I see it more like 1) Don't mine! 2) Ready for headache number 2, how much of that cheap energy you have, and how much money you have in your pocket
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