You are completely out of context, do you have any valid proof for what you're mentioning? Nope, it's just some conspiracy theory. Yes, there is a suspicion that it could have leaked from the Wuhan laboratory, but till now, no scientific proof has been found to back that. Everything else, about the USA transferring infected US marines etc. is utter bullshit.
Well, we would have more information about the origin of the virus, except China will not allow for a full and transparent investigation. So what does that tell you about the origin? Maybe something nefarious? And have we seen any evidence that the virus originated in a wet market? I'd say we have seen none. We have seen, though, that the US's NIH provided funding to Wuhan Virology lab where they conducted research on bat coronaviruses. Do the math and tell me what's more likely. |
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Realistically I think bitcoin will act as the primary asset that's used as a hedge against inflation replacing most other assets like gold, and would act as a currency competitor for most larger currencies forcing countries to pay closer attention to their fiscal policy. Some smaller and more unstable countries I'd imagine would make the switch to bitcoin more quickly than the China or US, but it won't be in the near future that USD/CNY collapse to the point of complete obsoletion. So global currency in the near future, probably not. Perhaps at some point? Maybe.
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For those that might actually believe this dictator - Do you think someone that murders his political opponents in order to retain a tight grip on power is going to give up his economy to a digital currency that is free to use? Russia's economy has been in shambles since Putin was put in power, his regime would not survive if Russian citizens detached themselves from central banking. I'm sure he'll talk up Bitcoin with empty words that do not translate into anything meaningful.
It's actaully best for a dictator to use cryptocurrency to surveillance the people in the country. Look how China is doing. Using their CBDC is to look into the account and money spending of their people through their CBDC makes Xiing Ping more in control of their people's behavior. He doesn't have to control social media feed because he knows his people, how much money they have in their accounts, and can bankrupt with just one click. Gaining power is difficult when he sticks with this old system. How many tyrants are dead because of it. Luckily for Putin, people are still liking him. China is attempting to ban Bitcoin, and here Putin is praising it. Could it be part of the long game? Slowly introduce crypto to the Russian people, then start issuing out CBDC in order to retain control over all finances, sure. But Putin is not advocating for Bitcoin without malicious intent. He is horribly corrupt and has rigged elections to stay in power. Anything that would take dependency away from government is not in Russia's best interest. Even if Russia were to adopt Bitcoin, I can't imagine it ever replacing their currency. Their economy is too small for significant impact. |
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So first you have to look at the world's GDP and look at the proportional share by each country. https://www.worldometers.info/gdp/gdp-by-country/You'll see the US has the world's largest GDP, one of the highest GDP's per capita (with consideration to a 330 million population), although some smaller European countries have a larger GDP per capita. So the largest economy in the world will have the largest effects on Bitcoin, depending on how they choose to moderate their fiscal policy. China is a close second. On inflation - view the US federal reserve liabilities sheet: https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htmNotice during the housing crisis, where nearly the entire global economy collapsed, you saw what the federal reserve did in order increase money supply by taking on a number of liabilities. They did this to prevent deflation of the US currency, which essentially causes people to hoard cash and grinds the economy to a halt. Examine the steep incline in March of 2020 where they employed a similar method. Keep in mind, interest rates were already low during this period. The federal reserve has been using the strategy of quantitative easing which is demonstrated in this chart, where they inject money into economy, producing the side effect of inflation. Investors and currency holders flock to alternative assets in order to prevent their purchasing power from going down. So really, you only need to look at the federal reserve liabilities chart to get an idea how the US economy and inflation effects crypto and why it's such a big deal. None of this should be a surprise. As for USDT, presumably as currency inflates you'd need more in circulation. |
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It's always troubled me that the green folks wanting to eliminate fossil fuels will turn their head away from nuclear energy, pretending that the fate of Chernobyl is emblematic of all nuclear energy plants. OPEC has the monopoly on oil and the R&D into green forms of energy aren't happening fast enough, especially when you eliminate nuclear as an option. My position is as follows. - oil and gas, in a world where its consumption will drop noticeably in the future, is now becoming a weapon, or a means of terrorism in some hands. This means that it is necessary to look for an alternative and diversify the supply of this resource, in order to reduce the effect of economic terror to zero. As you can see, on the market only 1 semi-monopolist begins to "show" what he can do if his conditions are not met, and has already exponentially inflated the gas price over $ 2,000. Such suppliers should simply be removed from the market. - NPP is a rather controversial decision. On the one hand, it is a highly efficient source of electricity. On the other hand, over the past decades there has been a huge number of very serious accidents. Each nuclear power plant is a potential global collapse. And given that cheap and affordable electricity for some entities is an inconvenient competitor, and they have no moral principles, NPPs can become the next means of terror. It is enough to stop the nuclear power plant - and entire regions will be without electricity, the collapse of production, logistics and other things. But this may not seem enough, and people who swarmed the idea of world terrorism, and who easily use chemical warfare agents against citizens of other countries, will commit a full-fledged terrorist attack at nuclear power plants without unnecessary torment of conscience. And this is already tens of thousands of lives, millions of kilometers of territories polluted for centuries ... No, this is not paranoia. This is a simple statement of what will happen if no alternative paths are found. - Solar, tidal, wind, and other technologies - may well become the alternative that will provide the required amount of energy, without significant risks. For this, a good step would be a legislative norm - taxes on the production and sale of oil and gas for the development of more efficient green technologies. Just imagine what will happen if today's efficiency of mass-produced solar panels becomes 2-3 times more efficient and the price falls? Who will need oil and gas in such volumes? I don't really think that nuclear is as dangerous as people think it is. Chernobyl isn't emblematic of nuclear energy, although it's something a lot of people think about on this topic. Keep in mind, what happened in Chernobyl was during the Soviet era with low safety standards and ancient technology. We're light years ahead of what we had then, and I don't think the small risk of accidents outweigh the amount of energy you can produce. Realistically, nuclear waste is the only downside, but oil production produces a lot of waste within itself. Oil results in larger CO2 emissions as well, so the trade off isn't that bad. |
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If Tesla (EM) did not sell all that BTC, then it would be more accurate to say that it is an unrealized profit - and EM has stated that it has no intention of selling that BTC, although this may change at any time. In addition, Tesla appears to have bought a total of 46 000 BTC at an average price of $32 610, but sold 10%, so the total amount of BTC is now 41 400 currently worth 2.375 billion. In Q4 of last year, Musk purchased $1.5 billion in Bitcoin in one of the most adventurous moves ever undertaken by a corporate treasury. CFO Zach Kirkhorn praised the gambit as "a good place to place some of our cash that's not being used, and get a good return on that." By my math, Tesla bought 46,000 coins at an average price of $32,610. In mid-March, it sold 10% of its holdings, around 4,100 coins, at an average price of almost $60,000, booking a profit of $128 million (reduced to $101 million by an "impairment" charge). I think the point is the unrealized gains are after Musk trashed Bitcoin for being ineffective energy wise, meanwhile they continue to hold crypto knowing well they can profit from it. If Musk truly believed crypto was worthless and an energy waste, I'm not sure why his company would retain their Bitcoin savings. The 10 percent sell off isn't very significant. Their holding because they know the coins have value, despite what Musk wants to say. |
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Inflation's a global issue right now - supply chain issues are effecting major ports causing product shortages, and then there's the issue with central banks injecting too much cash into the money supply producing long term inflation upwards of 5 percent for some places. The US federal reserve in particular is on the hook for trillions in liabilities, and when they default on their debts, I'd expect Bitcoin to skyrocket as the world's largest currency falls. China is having some issues with their economy as well, but CNY I'd predict will last a bit longer than USD, but with global markets so intertwined, expect a domino effect.
You can pretty much sit and watch the collapse in real time, it's no longer predictions. You can see the price of BTC correlating with the inflation rates.
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In the last couple of weeks, I have been wondering what are the political undertones as regards the origin of covid-19 and why China will reject access to a laboratory in China by the world health organization. Why are countries making vaccines mandatory for their citizens?
To answer your first question - China is a communist dictatorship that is afraid of letting the world know that their shitty hygenic practices in their Wuhan virology lab. And there is mutual agreement about burying this, because it may very well be that the US funded gain of function research into Sars-Cov bat viruses. The suspect nature of the viruses origin should tell you already that the initial story is not to be believed. No, this did not come from a bat in a wet market. Second question - It's mostly a few countries proposing vaccine mandates. Israel and US to name a couple, as well as the Philippines. The argument the government will provide is that this is a "deadly" virus, therefore every man, women, child, and animal must get 5 vaccines, a few boosters, and they'll receive their stamp of approval in the form of a vaccine passport, so they may ostentatiously display their vaccine status for the world to see. What they may not be willing to admit is the deaths related to Covid are almost exclusively of those with preexisting conditions or are old age. Simply put, any government willing to impose a vaccine mandate doesn't trust their citizens can perform their own risk assessment analysis. You see, you're too stupid to make a decision about your own health, therefore, a government official must be put in charge of that decision. |
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For those that might actually believe this dictator - Do you think someone that murders his political opponents in order to retain a tight grip on power is going to give up his economy to a digital currency that is free to use? Russia's economy has been in shambles since Putin was put in power, his regime would not survive if Russian citizens detached themselves from central banking. I'm sure he'll talk up Bitcoin with empty words that do not translate into anything meaningful.
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So, Alex Jones was right about the frogs turning gay huh - https://www.youtube.com/watch?v=_ePLkAm8i2sInstead of "gay chemicals," it must have been these parasitic homosexual viruses that alter hormonal levels in the water. And the only way to get rid of these homosexual parasites is to consume poisonous turpentine? Well, if you end up dead, then I guess technically the viruses will end up dying too. So a legitimate therapeutic. |
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To add context this - There are two parts to the inflation problem, one, of course, the fed is responsible for. Endless money printing, or rather, endless money injection into the economy through QE is on the fed. What they can't control are the rising costs of goods due to global supply chain disruption. They're stuck in a rough place, but I don't have much sympathy as they are the ones that put themselves there. |
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All this entails are the banking industries dabbling in crypto investments for their customers. Anyone that's been paying attention saw this for years. I wouldn't call this a "friendship," just an emergence into a new market. Visa is starting to advertise itself with crypto, attaching it's centralized payment processing mechanism (ironically) to the crypto markets.
Ask yourself, you think Visa is going to be friends with its competition?
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Direct costs of living, so housing prices and food prices are all increasing because of supply shortages. The supply chain took a hit during Covid but there's always a lag in the inflation calculation as the market determines the price increase. And if you want to go further than that, despite having your income rise by 10x, you still had more purchasing power 5 years ago. Most centralize government banks will target inflation to be at 2 percent each year. Your country might have had higher inflation, so it could be worse. So, by design, you are losing 2+ percent of your spending power each year, even if it may not necessarily seem like the prices around you are increasing. The price increases are subtle, and by design. We also need to take into account that inflation is not even, and while a 2% inflation per year is the goal that does not necessarily mean we see this over all industries, the things that people demand more and which are basic necessities are the ones that increase the most as the demand for them is always high and as such that inflation number could still be very deceiving, and now that the inflation is higher than that it is not surprising that we are seeing this being even more notorious than in the past. This is a good point - From what I'm seeing, there are supply chain issues effecting computer chips which are causing issues with a lot of vehicles to sit in lots because manufacturers are waiting on these chips. Used car markets as a result see an increase in price, upwards of 20 percent. Doesn't necessarily effect anyone that isn't looking for a used car. Energy and food are the two major industries I'm looking at though, and there are no signs that supply chains will recover, so inflation is here to stay across all industries. |
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Cryptocurrency is essential for the development of a country?
Absolutely no. Crypto doesn't offer anything fundamentally better, except for control over own money, which most people don't need and don't want. Cryptocurrency isn't even theoretically suitable for being a backbone of the economy, because there's still no coin that can scale to millions of active users, and without central bank its price is too volatile. I guess OP should clarify exactly what he/she means by country? Country as in its citizens, or the government? Crypto could scale towards millions, it already is right now. A developing country needs to establish a strong currency, and there isn't any downside to adopting crypto because the currency is already developed and widely used. It makes international commerce more convenient, and provides a reliable fiscal system that isn't dependent on central control. |
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I see a lot of people ridiculing OP but it's a fun thought experiment (I use this term loosely).
Gold, like Bitcoin, operates with supply and demand. So fundamental to Gold's price, is the total supply that is available. Part of that calculation includes mined gold, and unmined gold.
Interesting distinction to make though - we know the total supply of Bitcoin and presumably there will be some point in time where Bitcoins are mined. Gold, there is no determined or set supply that we can fully be aware of. So theoretically, if someone were to find some method in which gold mining were to be optimized involving low amounts of labor and high yield, theoretically you could think of that as "printing gold," just with a limited supply. And what happens when the supply outweighs demand? Prices fall.
The likelihood of this happening is zero of course, but just an interesting way to think about it.
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https://www.businessoffashion.com/news/global-markets/container-shipping-rates-from-china-to-us-continue-to-soarThis article is old but I found this recently - the global markets are having a rough time just because of the shipping bottle necks that're happening across the world, so inflation isn't isolated to whatever country you're from, this is a global issue. So fiscal policy isn't going to help the price increases on goods, and the shipping increases are a price everyone's going to have to pay regardless of whether it's in fiat or crypto - but the point is, the issues are being compounded by irresponsible spending. Countries are creating an optimal environment for currency inflation, despite what's going on in the global supply chain.
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There are no effects until China steps up their enforcement, which won't happen for a while. CNY's sustainability is the key here. If China finds out their own currency is being edged out by crypto, they'll step up the enforcement and outright ban the currency, not just empty threats or proclamations that don't mean anything. This is also a country that is currently operating concentration camps of muslims by the millions, so expect them to aggressively come after crypto with extreme penalties. I don't think they'll be successful (as in entirely or significantly eliminate crypto transactions), necessarily.
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https://qz.com/india/2068834/highly-vaccinated-singapore-sees-rising-covid-cases/Singapore has one of the highest vaccination rates in the world but they're experiencing a huge spike in cases. Even looking at their previous spikes, this is larger than any past waves, and this is occurring within the frame of high vaccination availability. The strategy at this point should (and frankly always should have been) preventing deaths and hospitalization. Cases were never a good metric to measure a pandemic because a benign case of the flu or minor cold symptoms should not be a big deal. Yet public health officials have gone on the record to proudly proclaim zero Covid is the goal, and that they are not okay with someone getting infected with Covid and being asymptomatic or mildly symptomatic. Just goes to show the wild disconnect with the "experts" and public policy making. If you want to appoint the doctors to effectuate the policy, expect Orwellian and dictatorial society.
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So as of today "46.4% of the world population has received at least one dose of a COVID-19 vaccine." and daily COVID-19 cases has dropped significantly from hundred of thousands per day to just +39,068 cases yesterday.
Is this the vaccine working? or we have developed the natural immunity?
Since only 46% vaccinated with one dose but the cases dropped at 10 folds? May be the masks or social distancing or all of the things combined?
or this COVID-19 was just a flu.
The confirmed cases aren't going to be accurate for any 3rd world country. Vaccine's efficacy was 95 percent according to all the data that's been published by Israeli's health system, NIH, and CDC. Now, I'd say it's about 40-60 percent effective. Break through cases, reinfection, all more common. Natural immunity more robust, but anyway - herd immunity + natural infection means herd immunity for a large chunk of the population. Covid is "flu like" for anyone that has a good immune system and isn't riddled with underlying conditions. Any one else, covid is more serious. |
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Besides technically speaking a law that affects only 3% of the world (ie. US population) should not change anything about bitcoin's future. Granted some weakling countries such as parts of Europe could possibly follow if pressured, but you think people in El Salvador, Japan, Venezuela, Switzerland, Germany, Ukraine, Iran, most of Asia and ... give a shit what law US passed?
The US got light drugs like marijuana banned in the whole world just because they had a domestic campaign against them. If the US wanted, they could very easily convince dozens of countries to introduce anti-crypto bills tomorrow, it's a really no-brainer thing to do for most governments because in their eyes they would sacrifice nothing and win a favor from the US. For now this Infrastructure Bill seems like a purely domestic thing, but if they will attack Bitcoin from anti-ransomware or anti-terrorism angle, they can easily turn it into a global chain of anti-Bitcoin legislation. US banning Bitcoin outright would send the entire crypto industry into turmoil and would permanently disrupt the market. They wouldn't need to coordinate with any other country, they would follow along like dominos before coercion is necessary. Some smaller APAC and SA countries that maintain autonomy over their own economy and aren't beholden to the US would be okay, but how much do they really contribute to the world economy? Not much. |
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