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1  Economy / Economics / Re: MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’ on: June 21, 2021, 09:39:18 PM
At this rate, microstrategy are tilting more towards a Bitcoin oriented company than any of the other services they offer.
Seriously.  It's really making me wonder what their end goal is with bitcoin, if they have one.  They can't buy so much bitcoin that they basically paint themselves into a corner they can't get out of, so there has to be a point where they're done buying--but I don't believe Saylor has made mention of his intentions.

And as I've said before, for MSTR's sake I hope bitcoin stays above their average purchase price, because it's a hell of a lot of money they've spent acquiring it, even now taking on debt in order to finance the buy.  Part of this whole thing just doesn't make sense to me, because MSTR isn't actually a bitcoin company and although companies should have cash reserves, they don't take on debt to secure them like MSTR has done.  I get that Saylor thinks bitcoin is a better alternative to fiat, but still.  Seems really crazy to me.
2  Economy / Economics / Re: Inflation and social mobility - there has to be a relation on: June 21, 2021, 05:42:08 PM
My thesis is that inflation can be a precursor of opportunity and that carries a chance for individuals to move socially. It also diminishes debt, which may be a factor as well.
I assume you mean that opportunity comes from average folks to get out of cash and into investments to either protect against inflation or to straight-out grow the value of the money they put into those investments. 

If that's the case, I can see where you're coming from but from all that I've seen in life, people are addicted to debt.  They tend to live way beyond their means, with maxed-out credit cards and loans of all sorts.  Even in the US, one of the richest countries in the world, most people don't have any money put aside in case of emergencies--and that's not because it's all invested in the stock or crypto markets; it's because they're living paycheck to paycheck because they wanted to buy a fancy SUV or wear nice clothes (or you name it). 

I'd also argue that inflation doesn't just hit the things we buy in stores.  It also affects things like stocks.  Take a look at how overvalued stocks are right now--we've been in a raging bull market for well over a decade now, and prices of stocks have become so inflated that it would be crazy to jump into the market right now.  And as far as bitcoin goes, I don't even know how to put a fair value on it, so I can't say whether its price is inflated or not, except for the fact that it's much higher than it was pre-COVID.

All in all, I really don't think inflation helps anyone in the lower tax brackets with social mobility.  I suppose it could, but in reality it doesn't.
3  Other / Off-topic / Re: Do you feel happy on getting merits ? on: June 21, 2021, 02:39:47 AM
When I read about your post, I immediately thought of the dopamine rush that the "like" or "heart" button in different social media platforms give. This is just how the world works now that we feel that rush once we have been acknowledged or validated with our post. I value merit than likes though, lol.
I detest social media and want no part of it, but I've read and watched videos about what you just mentioned, the dopamine rush from those likes and other forms of affirmation on various social media sites.  I tend to think that's a very unhealthy way to stimulate the pleasure center of your brain--or at least it could be if you become dependent on other people's reactions to your posts/pics/videos/whatever in order to feel pleasure (or to feel validated as a good person).

To add to my previous post here, I actually feel better when I can give out a bunch of merits to members who deserve them than when I receive merits myself.  Having said that, I hope I'm not contributing to other members' dopamine addiction by showering them with merits.  Wink

I was here before the merit system launched, so I don't really need anyone's approval to boost my ego because I never got that before--plus I'm pretty confident that at the very least I'm not a shitposter.  I can go weeks without getting a single merit and still know that I put a decent amount of thought into my posts and that at least they're not complete crap.  And man, I haven't even been trolled by the likes of cryptohunter (who called me a troll and a shitposter if I'm not mistaken) in many months, so I'm content with that.
4  Bitcoin / Mining / Re: Is it possible to solo mine a whole block solely on insane luck? on: June 21, 2021, 02:21:37 AM
So for some it may be "Damn I blew $80 on a miner that's not profiting" I should have wasted it on something else ...

For others it will be "Cool, only $80 to get the hardware to learn something about Bitcoin"
I don't want to drag this thread off-topic, but I do want to reply to your post. 

Yeah, maybe I'm thinking about USB miners in purely economic terms, but I would argue that watching a few Youtube videos of people describing how USB mining works would be much more cost effective than essentially doing an experiment that's already been done and documented, i.e., that it's easy to start mining with those USB sticks but in the end it's completely unprofitable--and you'll likely wind up not continuing to use those miners since they don't allow you to earn anything.

If you want to learn about mining in general, a better option would be to mine altcoins with GPUs.  It may not be bitcoin that you're mining, but I believe the process is similar (at least close enough for educational purposes) and you'll have the benefit of being able to trade those altcoins for bitcoin if you want.  I'd think that many people who'd be interested in mining would have a computer with a graphics card capable of at least mining something like Ravencoin or ETC. 

Plus, $80 is a lot for a lesson on how to mine bitcoin without actually mining any bitcoin.  Why would you even want to dabble like that when that $80 could be spent buying bitcoin or on something that's going to be useful?  I mean, let's face it.  People don't get into mining just because they want to learn how it works.  They want to earn money; they want bitcoin.  But again, that's me pondering these USB miners in terms of their economic value--the only way I really can think about them.  Back in the day, they really could enable you to earn a decent amount of BTC.  Now they're obsolete, and I don't think the education you'd get from owning them justifies the price.  Maybe if they went for $10 apiece I could see it, but not at the inflated prices they're selling for these days.
5  Other / Meta / Re: Is The Purpose of The Merit System Defeated? on: June 21, 2021, 01:28:27 AM
2) suggests you're not actually a Newbie.
Yeah, that much seems to be obvious.  I'm wondering whether he's a previously banned member trying to start anew on the forum with a new account (and in violation of the rules).  The only other reason that makes sense is that it's an alt account being used to increase bounty earnings, though I don't see anything in his signature space.  Or....could be that he was lurking for a while before registering, like I did in 2015, but I think that's extremely rare nowadays. 

Most newbies don't join the forum because they're genuinely interested in bitcoin; they're referred here by their drippy-eyed brothers and cousins--and probably in some cases their parents--in order to strike it rich by shitting all over the forum in order to earn some worthless token that they might get screwed out of in the end anyway.

Sir,
<snip>
Sir,
<snip>
Sir,
Oh shit, it's a triple "Sir" type member.  Well, at least we know he's an aspiring bounty hunter and probably has another account with which he's already earning turd tokens.  What he's doing with the KingsDen account, I have no idea.  His posts here make me want to put him on ignore, which I probably will after posting this.
6  Economy / Economics / Re: Why is bitcoin (crypto) worth anything at all?? on: June 20, 2021, 05:06:27 PM
So countries can’t print more money that solves nothing.... but somehow one person can make hundreds of people rich simply by a tweet?? I don't get it..like I said a strange, strange world indeed.
OP, I'm not sure that it's you not understanding the nature of money that's the problem.  The issue is that we're living in a very weird time when things like you described above can happen, and to me it indicates that there's way too much money floating around and people are playing with it instead of using it for essentials or saving it.  Doge going to $1 is similar to Game Stop stock going to whatever its recent high was; both are completely irrational happenings, but they happened because there's this kind of gambling fever hitting the world--except it's not at the casinos but in the stock and crypto markets.

Also, if you're interested in actually learning about money there are tons of books you can read on the subject.  I'm still finishing Digital Gold by Nathaniel Popper, and it gives a good account of how bitcoin got to be thought of as a real currency (and it gives a great history of the early days of bitcoin as well). 

Anyway, the things that are likely in bubbles right now (doge, stocks, whatever) aren't all forms of money but assets.  Even doge is considered an asset and not money by the US government, though we tend to think of it as a currency. 

The real problem you're facing boils down to this: economics is hard.
For some people, yes.  I'd argue that majoring in economics in college is easier than, say, physics, chemistry, mathematics, pharmacy, or engineering.  It depends on how smart you are and--probably more importantly--how interested you are in the subject.
7  Other / Off-topic / Re: Do you feel happy on getting merits ? on: June 20, 2021, 04:14:54 PM
It gives a sense of pleasure and happiness on getting merits and for the whole day i remain full of joy.
Hm.  That's probably an extremely unintended (but positive) consequence of the merit system, something Theymos probably didn't anticipate--that receiving merits would make someone's day.  And if getting merits can make your day, that's probably true for many other members as well.

And yeah, I like receiving merits because it's validation that I'm making posts that either people agree with or enjoy reading.  I'm long past the point where I get excited about it, though, and in fact I just wrote in another thread that I'm encouraging members not to give me merits, but to save them for lower-ranked members who make good posts and need them to rank up.  I can't rank up any more than I already have, so merits don't serve any functional purpose for me, nor do I really need that validation anymore.

Even as a Sr Member, every Merit still count. Maybe it's just some mere number but hey, e-penor Grin
Of course; even for Hero members merits still count (assuming they have less than 1000) since they need them to get to Legendary status, the holy grail of ranks for members who registered shortly before or any time after the merit system was rolled out.

I reviewed your account and noticed that you are not getting much merit, so probably 1 merit builds your day. Reading your post, I get the impression that you are writing only to get some kind of praise.
Well, if getting a post merited makes OP's day, I wouldn't doubt that he's aiming to earn them.  There's nothing inherently wrong with that as long as his (or anyone else's) posts are good.  Some members try to earn merits through sneaky means, like creating topics such as this (which is why I'm not meriting his post; I'm a skeptic as well), and others think that writing a lengthy post is sufficient and neglect quality.  But if you look at the posts of members who've earned the most merits, some posts can be short but on-point and others can be long and very well thought out.  It's pretty easy to tell if someone has actually put in some effort as opposed to trying to appear to have put in effort.
8  Economy / Economics / Re: Miami Mayor Will Allow Employee salaries in Bitcoin on: June 19, 2021, 08:25:04 PM
As a general rule, salaries/wages received by an employer can only be by means of legal tender or cash deposits. It cannot be in any way other than what is recognized as legal tender. Hypothetically, in order for this type of suggestion be implemented, there has to be an amendment in our Labor Laws or a resolution viewing bitcoin or other cryptocurrencies as legal tender.
Or if the Philippines were to experience some kind of hyperinflation event, I bet the government might change its stance on that particular law--but hopefully that won't happen.  I'm not sure if there are any such laws in the US, and I'm wondering why your country requires wages to be paid in a legal tender currency.  Any idea?

You might think it's progressive for Miami to be allowing for this, but I've always thought it ludicrous to want to be paid in bitcoin if you had a choice.  And it's not because I'm anti-bitcoin (far from it); it's the damn volatility that makes it such a risk.  The way I see it, if you need bitcoin at every paycheck period it'd be far better to use your fiat and buy it rather than actually getting it in the form of that paycheck.

It's not as though everything you need to buy from day to day (fuel, food, entertainment, etc.) can only be paid for with bitcoin.  In fact, more often than not some things can't be purchased using bitcoin at all, like your utility bills for example.  Wouldn't it be wiser to spend the bad money (fiat) and convert surplus bad money into good money (bitcoin) instead of being basically forced to spend the good money and taking the risk that bitcoin might lower the fiat value of your paycheck?  Call me crazy, but that's how I've always viewed this issue of receiving wages in the form of crypto.
9  Other / Meta / Re: Bitcointalk Merit Dashboard on: June 19, 2021, 08:01:06 PM
fillippone received merit in 413 consecutive days. From January 27, 2020 to March 14, 2021.
Wow!  That is truly amazing that he got merited that consistently, and that's one hell of a long streak.  Props to you, filippone.

You can check list of users with big number of merit streaks on "Received Merit Streak" tab.
I think I took note of some of my streaks, but I never really kept track--I think I'll check that tab out and see if I can view my longest streak.  It's probably not that long, certainly nowhere near filippone's.  Frankly, I hit the 4000 merit mark (1000 of which were airdropped in Jan 2018), so I'm content with that.  If I never received another merit I'd be completely fine with that. 

In fact, in the past I've urged people not to merit me, but to save those merits for lower-ranked members who could use them to rank up.  I haven't written such a statement in a while, so I guess it's time to again:  Don't merit me!  I appreciate the appreciation, but other members need the merits and I don't.

Thanks for bumping this thread.  I hadn't looked at it in quite some time.
10  Bitcoin / Mining / Re: Is it possible to solo mine a whole block solely on insane luck? on: June 19, 2021, 04:00:17 PM
I thought I'd mentioned in this thread about how much USB miners were going for on eBay, but I guess it was another one.

Nevertheless, I visited Bitcoinmerch today just for the hell of it, and they're selling the Gekkoscience NEWPAC miners at $79.99 a pop, and they're currently out of stock.  I'm not even sure Gekkoscience even still makes these--I thought not, but there's no indication on the Bitcoinmerch website that these miners are used or anything.

I found this blurb in the description kind of amusing:

Quote
This entry-level miner is good for anyone interested in tweaking and testing stuff, or for anyone wanting to “get into mining” without spending a lot of money or burning a lot of power. It’s designed as a  flexible yet affordable tool to learn a lot about bitcoin mining and its hardware.

I don't know about the "tweaking and testing" but in 2021 these are lousy devices to "get into mining" and as far as spending a lot of money/burning power, that may be true but overall they're just a waste of money unless you're buying them as collectibles (or lottery mining, as OP is doing).  I still love the history behind these and wish I'd been aware of bitcoin back when you could use a USB miner to mine enough bitcoin to break even and then hopefully make a profit.  Anyway, just thought I'd share that and this thread is as good as any other to do it in I guess.
11  Economy / Trading Discussion / Re: Scalping is the most controversial way to make money. My experience for 4 years on: June 19, 2021, 03:29:55 PM
OP, I'm not a trader so I'm not competing with you for trades--therefore, I wish you luck with whatever strategy you employ.  I had heard of scalping on this forum over the years but never really understood what people were talking about (precisely because I'm not a trader and thus don't pay attention to the details).  Thanks for your very detailed post, I liked reading it.

And this:

Many novice traders, when they earn 2-3 months on the crypto market, then start running around the Internet and yelling that they have found a way to earn 100%, they start sharing their strategies, their signals. They've been trading profitably for several months now, so they understand this business?
You're on the money about that--not only about trading, but almost everything else.  I've seen so many Youtube videos made by males who have to be in their early 20s talking about trading, economics, and various life issues that I can tell they know nothing about because they haven't lived long enough to learn all there is to know about whatever it is they're blabbing on about.  It drives me nuts, because they're the ones usually making bank by churning out such videos.

Good luck in your future trading, OP.
12  Economy / Exchanges / Re: Livecoin return of deposit on: June 18, 2021, 09:45:56 PM
I'm still waiting for an established member of bitcointalk to post that they got their 50% back instead of all of these new accounts that were apparently instructed to post exactly what OP posted here.  Surely someone here above Newbie rank had traded on Livecoin and petitioned to get a refund of whatever coins they had on the exchange before it went kablooey.

It's hard to think an exchange would add a condition before they pay up to the people they owe but I'll give you the benefit of the doubt.

This is a nice way to lift their reputation up
I would prefer to see the instruction that was emailed to you. Please post them here.
Yeah, that's an excellent idea.  However, I seriously doubt OP will return to this thread after today.  He was either a shill for Livecoin or got his 50% back and did as he was told and posted about the refund here, and if it's the latter case I'm pretty sure he has no interest in the forum and doesn't plan on checking back on this thread.
13  Economy / Reputation / Re: Hero today, it's been all fun right from the start. on: June 18, 2021, 08:29:01 PM
Hero Member is no small accomplishment these days, especially since you registered well after the merit system started.
The Pharmacist, maybe not for those who don't care about knowledge and post quality. Even though we have dozen of active poster every day but it is very difficult for them to get 1 merit because they don't care about post quality. There are very few active and knowledgeable poster with their contribution on the forum from 3 million current profile in my opinion.
Yes, I completely understand that, which is why I wrote this:

Most newer members (and you are still relatively new, even though you breezed through the ranks) come here just to participate in bounties and don't read any of the valuable threads bitcointalk has to offer, and if they do post anything other than their weekly bounty reports, it's nearly always garbage.
That's why Charles-Tim stands out from the rest of the pack, because he isn't just writing crappy posts as fast as he can type them out like most noob bounty hunters, in order to satisfy the character count minimum for whatever bounty they're enrolled in.  It's unfortunate that most newbies do that, but it's the truth.

I felt amazed also today as it turned out as supportive and caring, I really appreciate your kind words and comments about me.
Hey, you deserve it and have earned your rank and the respect of many, including me. 
14  Economy / Trading Discussion / Re: Michael saylor and his bags on: June 18, 2021, 10:43:10 AM
It's no secret how MicroStrategy buys BTC without affecting the price - they do it through Coinbase, which again uses different methods to provide the customer with a satisfactory result.
Makes sense, US company using a US exchange to buy huge amounts of crypto.  I don't see how else a publicly-traded corporation would do it.  If they bought from an individual whale, there might be questions from shareholders (or short-sellers) about conflicts of interest and so forth; and it wouldn't be great for MSTR's public image if they used a foreign exchange, nor would it likely be advantageous for them to do so.

And OP, I wouldn't call what Michael Saylor has as "bags".  For one thing, the bitcoin isn't his.  For another, what MSTR owns is a huge amount of bitcoin, the king of kings when it comes to crypto.  "Holding the bag" implies that you've bought something lousy, and that doesn't describe bitcoin at all.
15  Other / Meta / Re: Signature spam - how to force users to read before replying? on: June 18, 2021, 10:27:56 AM
I've been guilty of this myself, but it's usually in threads with multiple pages that I don't feel like reading--and most of the time I don't feel like reading because of all the shitposts present or that I anticipate being present (it's never a bad assumption that they're going to be there).  Usually if I find that I've suggested the same thing as someone else in the thread when I go back and read, as I often do, I edit my post to acknowledge that fact.

That's me, though, and I know exactly what you're talking about, Lucius.  But no, I don't report posts that duplicate suggestions or information unless they're absolute garbage shitposts.  I probably should do more reporting than I currently do, but frankly I don't see a lot of one-line nonsense posts now that I stay away from Bitcoin/Altcoin Discussion.

I wonder if anyone reports posts like this on a daily basis and if those reports are marked as "good" - and if we can otherwise force people to finally start reading posts and give some meaningful answers.
I seriously doubt any amount of reporting is going to force anyone to do anything--certainly not force sig spammers to start reading, which most of them probably can't anyway because their English is so bad.  I don't know how bad the situation is on the local boards, but there's always been a language barrier problem for bounty hunters/sig spammers in the English section. 

You can certainly report those posts and they might even be marked good, but I don't think it'll change much overall.  There will always be a new batch of no-reading signature campaign spammers to take the place of those who probably wouldn't have gotten the message anyway.
16  Economy / Currency exchange / Re: Helping a friend turn BTC into Fiat as he is not in good health on: June 18, 2021, 10:15:20 AM
Oh god,I've avoided taxes millions of times just wanted to give him some ideas,I've been on this forum for months,my negative rating is "threatening other users" when I got mad,I never scammed anyone,did you even look? Oh no,you're as toxic as the guy who left the rating,no wonder why your dad is dead already and you have no kids cause your semen is toxic aswell
Months is nothing, and yes I did indeed read your feedback.  I even linked to it.  You come off as unstable, and I sure as hell wouldn't take a word of advice from you.  But go ahead and defend your stellar reputation if you feel it necessary.
17  Economy / Reputation / Re: Hero today, it's been all fun right from the start. on: June 18, 2021, 09:46:03 AM
Congrats, Charles-Tim!  Hero Member is no small accomplishment these days, especially since you registered well after the merit system started.  In fact, it's quite the accomplishment; most members who started their journey on bitcointalk in 2020 will likely never have the patience and/or ability to write well such that they get to even Sr. Member, much less Hero.  And you've already got enough merits to hit Legendary once you get enough activity, so it's just a matter of patience for you now.

Giving a shout-out to all those members was an especially nice touch on your part, and it tells me that you value the forum highly.  That's nice to see.  Most newer members (and you are still relatively new, even though you breezed through the ranks) come here just to participate in bounties and don't read any of the valuable threads bitcointalk has to offer, and if they do post anything other than their weekly bounty reports, it's nearly always garbage.  You're a stand out, man!

Every "level up" you've got was well deserved. You are active and helping the others.
I agree.  I've found many posts by OP to be very educational, and I believe I've merited quite a few of them (though I haven't checked).  Keep it up, Charles-Tim and continue being an example to newbies!
18  Economy / Currency exchange / Re: Helping a friend turn BTC into Fiat as he is not in good health on: June 18, 2021, 09:35:13 AM
OP, first of all I'm not sure this is the right section for this thread (though it may be).

Second, beware of newbies like ThePayPalGuy, especially when they have negative trust (see here for his trust history).

Third, you're asking for what sounds very much like illegal advice, so you're going to attract the attention of wolves in sheep's clothing, i.e., scammers looking to take advantage of your situation.  You might be able to do a deal in this section depending on how much bitcoin you're talking about, but you've got to be careful about who you're dealing with.  Unfortunately there isn't a master list of people who are absolutely trusted to do deals like what you're looking for.  There's the default trust list, but I wouldn't put my faith in it 100%.

Good luck.
19  Alternate cryptocurrencies / Mining (Altcoins) / cheap moonlander on: June 18, 2021, 09:17:54 AM
I purchased a Moonlander 2 second hand on offerup 5 months ago for $20.  Go to ebay and now they are selling in auctions for Hundreds of Dollars! Mining coins to HODL without KYC is exactly why I got into this hobby!
I noticed that a couple of weeks ago, when I just happened to be idly browsing eBay--and I do remember when Moonlanders and other USB miners were very cheap.  I'm not sure why prices have spiked; the only reason I can think of for that is that people are collecting them.  I suppose there's a chance that people are doing what OP is doing (lottery mining), but I think it's kind of silly to buy so many of these stick miners that it drives the whole market for them up.  Maybe the buyers of them don't realize how little bitcoin can be earned using them?  That's the whole reason why there were so many on the second hand market in the first place--they're obsolete.

Yeah sometimes buying/selling used ASICS is a better way to earn money than cryptos themselves lol
Like selling shovels and wheelbarrows during the gold rush of 1848-49, it's true.  But buying an ASIC at least gives you the chance to mine something substantial, whereas with USB miners you'll never make your money back unless you do happen to hit the jackpot and mine a block.
20  Economy / Exchanges / Re: What do bitcoin ATMs do with your phone number? on: June 17, 2021, 10:48:43 PM
We can't get a burner phone in my country now since maybe 15 years ago but when you travel to another country you can get tourist phone numbers that last only a few weeks.
Really?  I don't know what country you live in, but that sucks.  Not being able to purchase an anonymous cellphone is a huge slap in the face to privacy.  There's no legitimate reason I can think of that should prevent a person from being able to use any type of phone anonymously, and just thinking about that, it wasn't all that long ago that pay phones (the kind you'd put coins in) still existed, though it's been quite a while that you could find them everywhere.  And if you don't want to give up your personal phone number to whoever owns the BTCATM, a burner phone is ideal.

Very strange that ATMs are allowed to do this, because businesses even regardless of it being crypto, should be regulated by privacy law. I believe it in Asia where I live but in "developed" places, I thought all these things are totally bad in books.
I don't know much about the legalities of businesses using their customers' data, but I'm fairly sure it isn't illegal to sell a list of e-mail addresses or phone numbers to spammers, advertisers, or anyone else--at least not in the US.  I'm sure the laws vary by country. 

In the US, I don't even know what the laws are regarding bitcoin ATMs, e.g. what it takes to operate one, what kind of data needs to or can be collected, and what the owner can or needs to do with that data.  My impression is that it's a murky area, because some of these machines require a drivers license scan, and some don't.  And since you can use any phone number you want as long as you can receive an SMS text on it, I'd assume there really isn't a KYC requirement at all if you're buying crypto in small amounts (<$900 is usually the cutoff before they start requiring more info).  Thus, the machines that want more info are most likely selling it to somebody.
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