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July 02, 2022, 02:47:01 PM *
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1  Economy / Economics / Re: What the is wrong with the world,EU and crypto ? on: Today at 08:24:03 AM
I'm not exactly sure what they're looking at with the "wild west market" but they're probably looking to protect investors (and this is hopefully what the bill is being passed for). Tighter regulation was always going to be coming and it'll be interesting to see if plans like this are actually implemented well enough to reduce scams (or if they're just a hassle for exchanges and traders alike).

I'm also assuming they're just copying the UK's regulations on this which already have licenses for exchanges.

Do you believe the government is capable of protecting anyone? Financial regulations should only exist to promote capitalistic outcomes, ie competition amongst businesses. Bitcoin is decentralized by nature and doesn't fit the bill of sensible economic regulation; there isn't a central authority.

I haven't read any text of proposed bills, they all follow the same format -- bunch of jargon and strict regulations designed to curtail Bitcoin usage/growth. Consumer protection is the least of their concerns.
2  Bitcoin / Bitcoin Discussion / Re: why can't bitcoin be based on something that has value? on: Today at 02:01:08 AM
Value is subjective, nothing has true and inherent value.

Bitcoin could be pegged to a fiat currency like USD like as stablecoin are. But USD does not have inherent value. You could tie a crypto currency to the gold standard, the gold's value is only attributable to what a consumer is willing to freely pay for it. Does the gold have inherent value? Or is the value attached to whatever someone will pay for it? Ask a man stranded on an island whether he'd rather have a pound of pure gold or a few matches. Gold is "worth" more than the matches on the market, but the value is subjective.

Perhaps your question is suggesting why Bitcoin isn't based on something tangible. There isn't an answer for that. You can only make the comparison to other currencies that aren't based on anything tangible either. What is USD based on?
3  Bitcoin / Bitcoin Discussion / Re: EU agrees on landmark regulation to clean up crypto ‘Wild West’ on: Today at 01:12:39 AM
It baffles me that they even try to paint this as an environmental issue. EU are obessed with green energy, part of why they're in their current predictament having to depend on Russian oil just to stay warm in the winter, but "energy consumption" is a convenient excuse in order to push crypto regulation.

Governments trying to regulate cryptocurrencies will be as effective as governments banning usage of illegal drugs. They'll be wasting their time.

the pun is
Governments trying to regulate cryptocurrencies will be as effective as governments banning [anything].
They'll be wasting energy and continuing the chain.

atleast they know they cant chase decentralised networks easy. so they are only going after the centralised ICO types.. which usually are where the scams are anyway.

There mere thought of regulation pushes away investors. Whether users like institutional crypto investors or not, they're part of the deal. Whether regulation is effective or not isn't the issue. Institutional investors aren't going to be attracted to a market they feel will be heavily regulated by the government. It never ends well.
4  Other / Politics & Society / Re: In Landmark Ruling, Supreme Court Deals Massive Blow To Biden's Climate Change on: July 01, 2022, 09:19:15 PM
Environmentalist and advocates of green energy has good intentions but sometimes they go to the extreme. Cramping down on businesses without giving support for alternative source of power or energy is always counter productive. It leads to loss or jobs, investment and sometimes health issues. Sometime these government use this environmental crusaders to frustrate the businesses of competitors or perceived enemies. The constant attack of Bitcoin miners in US is an example of government excesses in its bid to outsmart and oppress potential competitors. As much as I support the reduction in environmental pollution, I also believe is providing alternatives before policy implementation.   

Environmentalist are too extreme, you say?

Climate Protestors Glued Themselves to a Van Gogh Painting at the Courtauld, Demanding That Museums Join Their ‘Civil Resistance’

Not extreme in the slightest  Roll Eyes

If the climate change alarmist were sincere in their efforts, they would advocate for nuclear energy. Because if it is true that the globe only has decades until we all drown from rising sea levels, then a bit of nuclear waste would surely beat drowning in sea water. But they are not sincere with their efforts, they just want to ram their agenda down peoples' throats and use climate change alarmism as an excuse.
5  Other / Politics & Society / Re: USA Bans the right to abortion on: July 01, 2022, 08:49:09 PM
Watch what Sonia Sotomayor has to say on Clarence Thomas:

So much disdain for Thomas these days.
6  Economy / Economics / Re: Can Bitcoin Reduce the Global Wealth and Income Inequalities in 2022? on: July 01, 2022, 08:20:12 PM
It could but it probably won't because of the reluctance for the lower class to throw away their government's currency in support of Bitcoin. I do not foresee impoverished countries using Bitcoin and this is usually where the income inequality exists. Government corruption/lack of education are two of the leading factors of reduced wealth in any single country and Bitcoin is not going to solve a broken democracy through inherent use alone. It may serve as part of the solution, though.
7  Economy / Economics / Re: How Will Investing Help the Economy of a Country on: July 01, 2022, 04:08:10 PM
Investing is Widespread now in the Society such that the Inability of not Investing, is Paving a room for not Benefitting from the Outcome.
But I really can't tell how thus Investing in The Economy will help one's Country.

There isn't any guarantee you'll ever get a ROI whether you're investing at the bottom of a crypto crash (or what is perceived to be the bottom) or any other speculative asset. There are no guaranteed assets that offer a foreseeable outcome 100% of the time. Diversifying investments help alleviate the issue, but you speak as investing offers a predictable outcome when it doesn't.

And Right now Investing in Crypto is a yardstick of measurement and has created an opportunity that's reliable and trusted

Extremely irresponsible investing advice.
8  Economy / Economics / Re: Inflation will not fall to 2% target for two years, Fed's Mester says on: June 30, 2022, 09:30:01 PM
Remember when the fed said inflation was transitory? Also, isn't it absurd that the U.S. government admits to its currency holders that their purchasing power will not go down to the luxury of 2% year over year reduction until 2024, rather they must suffer with triple that amount and more until then. After all the suffering, then only are you rewarded with a 2% yearly reduction in spending power.

Anyone that understood the ramifications of endless money printing recognized there wasn't a way to lower inflation without effecting the interest rates severely and slowing the economy into a recession, the fed are years behind.
9  Economy / Economics / Re: You win or you learn. on: June 30, 2022, 06:26:15 PM
I just admired the way you ended up your story unlike some persons out there they give too much attention to the amount of money lossed and forget that a lesson should actually be leant from the manner in which their loss came about.

Luna really recked many investors and some are still struggling to gradually come out of their losses but it shouldn't deter anyone from continuing to invest. Just like in the real world out their through failure many persons have leant new ways to better do things, only that here in cryptocurrency trading our failures are accompanied with financial losses.
I would say that the best thing we could learn from Luna would be not putting all of your money into one basket. I have seen plenty of people losing way too much money on it, when asked why they put that much money into it, they said they saw it go up super high before. That is not a good reason to invest into something, you could see something that goes up 10x, and that usually means that you already missed your chance, but even if not, then just because it did 10x once upon a time, doesn't mean there is no way it won't go down neither, nor crash.

This is why I would highly suggest that the best thing that could be done would be making purchases from all kinds of coins to diversify your portfolio.

UST was never meant to hold its peg. I'm convinced any investors in Luna were just hoping that it would hold out long enough for them to run away with their profits. It wasn't even worth diversifying into, let alone putting your entire net worth into an unstable alt.

The lesson of Luna was not to diversify, it was to not diversify into garbage alts. Any investor diversifying into Bitcoin is wise, any investor diversifying into alts like Luna or (insert next Luna-type project here) is a fool.
10  Bitcoin / Bitcoin Discussion / Re: THIS CRASH IS DIFFERENT than previous crashes... The FEDERAL RESERVE is why.... on: June 29, 2022, 06:37:39 PM
Bitcoin has ZERO intrinsic value, it is only worth what someone else will pay for it.   Without the speculative bubble of the past 14 years to support Bitcoin, will go close to its value of ZERO.

Bitcoin has NEVER seen an era of rising interest rates and tight money before.  This time IS DIFFERENT !!!!!  Ignore this fact at your own risk  Grin

This logic has been debunked so many times. Any currency is worth whatever the free market will pay for it. No one is inclined to give you any amount of goods per any unit currency unless that currency is pegged to something inherently valuable. Gold standard is long gone so that isn't going to work. I suppose you believe that currency has inherent value because the government sustains that value? You happen to have more faith in the system than any other rational person. Record inflation rates from COVID money printing in nearly every currency, and these are the people you trust?
11  Bitcoin / Bitcoin Discussion / Re: El-salvador bitcoin investment is underwater on: June 29, 2022, 02:59:13 PM
Bitcoin had its peak at $69k, then continuously went down for months in the drumbeats of negativity

BTC price > $45k: 271 BTC bought
BTC price < $45k: 910 BTC bought
nayibbukele kept buying more when the price plunged

You understand that purchasing any amount of Bitcoin does not exist in a vacuum, correct?

If they wanted to put their currency into any other asset, there's a good chance that other asset would be down too. May not be down as bad as they are with Bitcoin, but it also helps to put things in perspective and understand that El Salvador has not lost anything until they sell. They bought in at 45k, and the market could have easily went any direction.

Do you foresee Bitcoin staying at where it is in the future?
12  Bitcoin / Bitcoin Discussion / Re: Bitcoin can fight inflation? on: June 26, 2022, 07:54:50 AM
No, I don't think Bitcoin could or should fight inflation. Bitcoin isn't out of the global economy. So the global economic collapse for any reason, Bitcoin wouldn't prevent. Bitcoin is a highly volatile cryptocurrency it can't make a stable global economy anyway. Don't expect too much, Bitcoin would be a great store value for the future and would keep a major role in the global economy. But can't fight inflation. Bitcoin itself is decentralized and no one can control it.

Bitcoin isn't supposed to prevent an economic crash. It can prevent inflation because the supply is finite, and deflationary by definition.

The current inflation of most currencies in the world are cause by the Ukrainian war, but not solely due to the war. A lot of the inflation was due to money printing in 2020 where the government though of the genius idea to pay people to stay home for a disease that has a 99.5 percent survival rate.

You think if a country's currency was Bitcoin only, they would elect to enforce lockdown measures? The only reason lockdowns were affordable was because most governments thought they could borrow from themselves (aka money print) and make up for it with future economic growth. Problem is, the economic growth fell behind and wage increases are unable to keep up with inflation.

Bitcoin could have prevented all this.
13  Economy / Economics / Re: US Gas sales to China dries up as Ukraine war halts Energy trade on: June 26, 2022, 07:35:56 AM
For now it seems the sanctions on Russia is having more negative impact on Europe and US than the sanctioned nation.     

"For now" is the key word here. Oil and gas prices will drop when countries will start producing more of them. And Russia can't simply sell all the oil and especially gas that it was selling to Europe - there's no infrastructure or demand among its friends for that. Combine this with the discounts they have to make to make their oil more attractive, and you'll see that in next 2-3 years Russian fossil fuels revenue is going to drop. And that would be very painful, because that's 50-60% of Russian budget, as they don't have any significant high technology or service exports.

Some countries aren't opting to produce more. Both the EU and US have committed to transforming their energy sector into green energy so it isn't clear that some countries will revert back to traditional based energy sources. Germany is reverting back to coal, but they are a singular case. The US in particular haven't been increasing their oil production, and green energy forms are undeveloped so they can't produce the energy they need through greener methods.

Russia can still sell to China and India. Ruble is somehow one of the best performing currencies as of late. It's solely based on energy.
14  Bitcoin / Bitcoin Discussion / Re: Is crypto winter setting in.. and how long will it last on: June 26, 2022, 07:26:42 AM
Crypto market won't stabilize until the other markets stabilize along with it. This could take years due to the Ukrainian war combined with the post-COVID lockdown spending that never really stopped until the end of 2022.

I don't see this as a bad thing. Gives you an opportunity to purchase cheaper coins. Most coins, certainly Bitcoin, will survive the market correction. There isn't a reason why BTC wouldn't rebound once the global economy picks up again. Some of the shitcoins that are currently done for will remain done for, though.
15  Economy / Economics / Re: {Economy} What is happening in Japan? on: June 25, 2022, 06:26:43 PM
Japan was suppose to be a super power. There was speculation in the 90's that they could use their economy to propel them as a world leader, but their economic growth stalled out, plus they couldn't keep a large military. Their economy will probably continue to slow with their debt/GDP being unsustainable in addition to their growing elderly population. They essentially don't have enough young workers to subsidize the older folks. That causes an economy to collapse extremely quickly despite what their debt might look like.
16  Other / Politics & Society / Re: [report]Rov V Wade overturned on: June 24, 2022, 09:23:04 PM
Sure. No emotion. As you talk about poking brains with sticks, as if that is in any way whatsoever based in reality. Roll Eyes

poled with a stick?.?.? are you a time traveller from the Victorian age where you hear about the 'back room' abortions woman go to because they lack having a proper medical assistance so try to perform it themselves with a friend that found a random stick?..

i hope you do realise what modern abortions are compared to your Victorian views..
let me guess you think appendix surgery is done with pair of rusty scissors and a coat hanger too

i guarantee you, that no modern abortions performed by a doctor trained in abortions is done with a stick

Would forceps and suction devices make you feel better about this? Is that better structured in reality?

So anything which didn't exist in Philadelphia, 1787, shouldn't be protected?

You can make a constitutional amendment if you'd like. You have over two dozen of them.

The 9th Amendment? The 14th Amendment? Or are we fine going after everything from contraception to interracial marriage now because these things aren't explicitly spelt out in the Constitution?

You think interracial marriage isn't included in the constitution?

True textualism there - selectively pick the bits of the text which suit your agenda. Guess they've got plenty of practice with that after doing it with the Bible for so many years.

Where is abortion outlined in the constitution? Why are so many constitutional scholars in agreement that Roe was bad law?

And does this change the fact that the blue states will allow full access to abortion? You might worry about abortion rights when it's outlawed in blue states. It won't be.
17  Other / Politics & Society / Re: [report]Rov V Wade overturned on: June 24, 2022, 08:11:02 PM
Yes, far better to reduce the bodily autonomy of half the population to less than that of a corpse. (Glossing over your very transparent appeal to emotion and the fact that a fetus at 20 weeks does not have a brain which is capable of consciousness, feeling, thought, or pain.)

A patient under anesthesia doesn't feel pain either. Does it make it a tragedy if their brain were poked with a stick for the sake of ceasing life? I don't have to use any emotion when talking about abortion, the practice is barbaric when dealing with a developed fetus. Abortion zygotes aren't much of a tragedy but maybe in retrospect folks will look back and realize abortion isn't as liberating as they once thought it was. I'm hoping it will go out of style and revert back to "safe, legal, and rare."

So I'm sure you'll agree it is equally wrong of the Supreme Court to over rule local governments on other contentious issues like gun control? And that this ruling just yesterday was therefore obviously wrong?

There is a right to keep guns in the U.S. I don't see a right for abortion anywhere in the constitution.

Right, because this was definitely only about overturning a bad law. That's why many Republicans are now coming out and calling for nationwide bans.

They can call for whatever they want. Republicans are celebrating but this will set them back in midterms a bit. Let them celebrate, who cares? Abortion is and will be a state issue. Abortion in the U.S. is not banned. I don't think it should be either. If Californians want to abort 9 month old fetuses, I suppose that's within the purview of their electorate. Either way, bad law is bad law. Hard to find any legitimate constitutional scholar that can find abortion within the text of the constitution.

And you see no issue with a biased and religiously driven Supreme Court overturning decades of precedent because of individual political leanings?

Seems to me the legal analysis of any document, by a prudent person (few of those folks left in the court system these days) would be from a textualist interpretation. That way, as Justice Scalia once said (I quote him loosely), you don't need to wake up one day and look to the sky to determine if the death penalty is constitutional or not. Clarence Thomas is doing a better job at sticking to the text of the constitution despite what his religions beliefs might be.

And of course, Western foundational values are religious in nature, Judeo Christian values are long withstanding. So to your point, there could be a religious bent to all of this. But not under the name of God, under Judeo Christian values.
18  Other / Politics & Society / Re: [report]Rov V Wade overturned on: June 24, 2022, 03:58:18 PM
This is throwing out your right to privacy. This should be an affront to everyone. If you throw out the 14th Amendment for Roe, then you can also throw out the 14th Amendment for Obergefell, Griswold, and Lawrence for starters.
Well, I called it:

Quote from: Justice Thomas
For that reason, in future cases, we should reconsider all of this Court’s substantive due process precedents, including Griswold, Lawrence, and Obergefell.

These are the laws allowing access to contraception and same sex relationships and marriage. Republicans just won't be happy until they have cameras in your bedroom and control over every aspect of your lives.

What a tragic day for America, Americans, and women everywhere.

God forbid a "clump of cells" at 20 weeks can't be sucked out of a vacuum and have its brains poked out with a stick anymore in some states. California and New York will be systematically ramping up abortions, don't worry. It's not gone.

For a country of 300+ million, a contentious issue like abortion should've just gone to the local government in the first place. Roe v. Wade was bad law, from one the liberal justices herself -

One of the issues with liberal interpretation of constitutional text is that you get to legislate from the judicial system, law be damned.
19  Other / Politics & Society / Re: Will Trump run again...and win?? on: June 24, 2022, 02:54:42 PM
I'd argue (and did at the time) that most countries were too late in locking down. Earlier, stricter lockdowns would likely have been shorter in duration, and cost fewer lives. But this pattern is reflected around the world, and says nothing particular about Trump. Politicians tend to be reactive rather than proactive with these things - if a precautionary action is going to cause economic damage, they won't act until it's absolutely necessary (and therefore too late).

This is part of the reason why I never blamed Trump for killing his geriatric consistency, as often he was accused of by the left. Is anyone truly under the notion that the complexity of an unknown virus with high transmissibility was handled with grace by any country? I look at the COVID death rates per capita by country, and I don't see any correlation between lockdown strategy and lower death rate. The response to COVID was in real time; there was no time for preparation.

For Trump, his reelection chances plummeted when the media held him personally responsible for killing hundreds of thousands of Americans. He seemed to be the only politician in the world held to that standard.
20  Economy / Economics / Re: UK inflation hits new high of 9.1% as food and energy price surge persists on: June 24, 2022, 02:49:40 PM
The Bank of England last week implemented a fifth consecutive hike to interest rates, though stopped short of the aggressive hikes seen in the U.S. and Switzerland, as it looks to tame inflation without compounding the current economic slowdown.
More than four in five people in the U.K. are worried about rising living costs and their ability to afford basics necessities like food and energy over the coming months, according to a new survey.

All signs point to a global economic slow down. There isn't a way the central banks can recover from having borrowed/printed so much money in order sustain the economy during COVID without raising interest rates significantly and growth slowing down to a recession.

Keep in mind the war is still "fresh" in Ukraine. Expectations are that it could last years. The cost of consumer goods will only go up as countries begin hoarding resources fearing uncertainty.
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