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81  Economy / Economics / Re: The collapse of central banks...Inevitable? on: April 19, 2024, 01:24:19 PM
Javier Milei has a pretty radical libertarian stance even for Argentina, and we're talking about a country that's been suffering from hyperinflation for decades. In cases of complete mismanagement, abandoning central banks and adopting someone else's currency or even a decentralized currency might be worth the risk. But I think that doesn't apply to most of the world, where fiat isn't always doing great, but there is some sort of stability and policies generally work. In those cases, I don't think getting rid of central banks would be a popular or appealing idea. Aside from stability and familiarity, national fiat can also be a part of national pride, and central banks are needed for that.
82  Bitcoin / Bitcoin Discussion / Re: Have you stopped using bitcoin for small transactions completely ? on: April 19, 2024, 10:35:40 AM
I don't use on-chain Bitcoin for small transactions, considering the fees. Come to think of it, when fees are above $10, I try not to use on-chain Bitcoin at all. But that doesn't mean I fully stop using it, as I do have small amounts on centralized platforms (for gambling and betting on sports). Since money's already there, small transactions are possible there without any fees, and Bitcoin can still be useful. I know it's different and that it's not a solution, but it also means not stopping using Bitcoin for small transactions completely.
83  Bitcoin / Bitcoin Discussion / Re: Focus on knowledge, build up belief, then investment plan, success will come. on: April 19, 2024, 10:19:36 AM
I agree that there are better and worse times to invest in Bitcoin, and that there seem to be some sort of cycles here. But with its long-term growth, I also think it's not necessary to get into details and time will set things right. For example, buying at $17k at the end of 2017 can be seen as a mistake, but if a person simply waited for 3.5 years, that's almost 4x profit right there. As for gold, it's growing much slower, so I think it's a good alternative to fiat for savings because fiat loses value over time, but not a very lucrative investment opportunity.
84  Bitcoin / Bitcoin Discussion / Re: UFC Fighter Renato Moicano Wants Bonus Paid in Bitcoin on: April 19, 2024, 10:09:18 AM
I think I've heard about some athletes requesting bonus payments in Bitcoin before. For example, there was a case in 2019 with Russell Okung tweeting about wanting to be paid in Bitcoin and becoming the first NFL player to be paid in Bitcoin in 2020. There's also an article on Medium (with relevant sources) about athletes getting paid in Bitcoin.
So it's certainly not the first case, but any such case is a nice little advertisement for Bitcoin.
85  Economy / Economics / Re: Do you feel that the global economy is declining? on: April 18, 2024, 02:57:55 PM
If we're looking at 5 years, then I agree that in many countries, including mine, things are getting worse. Salaries are higher in local fiat, of course, but the purchasing power is lower than it used to be, so to improve your life, you need to be in active career growth to outrun these changes.
That being said, I'm not sure if it's a global trend, because in my country it has regional causes that aren't relevant elsewhere. I tend to agree with Charles-Tim that objectively, the global economy isn't on decline.
86  Bitcoin / Bitcoin Discussion / Re: Is bitcoin a type of social media or a type of social network? Is it neither? on: April 18, 2024, 02:20:18 PM
Some of the crucial traits of social networks are allowing to communicate, share information, connect, form relationships. If we use the term social media, we're focusing on sharing information and ideas on a platform.
Bitcoin isn't built in such a way. We don't normally use Bitcoin to share texts or photos, we can't befriend people on blockchain, and we're not really communicating with Bitcoin. I'm not saying that it's impossible, but I'm saying that it's not what it's for, and it's not something easy to do.
One could argue that Bitcointalk as a forum has traits of social networking, but that's a very different matter.
87  Bitcoin / Bitcoin Discussion / Re: Short-term holders now have about ~1.8M BTC on: April 18, 2024, 02:06:54 PM
I agree with the op that a very high amount of BTC in the hands of short-term holders is a positive thing for BTC price. Some might worry that it's a bad sign because if people aren't hodling long-term, they can as easily sell their BTC as they bought it and drive the price down. But, actually, short-term holding means that there's high liquidity, and that people are willing to exchange BTC. Because hodling is good for hodlers, but not good for a currency itself, as low liquidity would make the price artificial.
88  Bitcoin / Bitcoin Discussion / Re: Why Bitcoin will remain the greatest crypto currency in the world. on: April 18, 2024, 09:25:02 AM
The scarcity of Bitcoin is actually more reliable than that of precious metals. For one, some of such metals can be available in great number in space, but it's too early to worry about that. The thing is, they might be abundant on Earth as well, as what we have are only estimates, and we haven't fully explored our planet to assert that we know the supply of gold, for example.
I agree that Bitcoin is the most reputable cryptocurrency, and that it's currently the greatest cryptocurrency. I think it will remain #1 by market capitalization for, say, another decade, but I'm not sure about forever, as we can't predict what kind of changes might happen.
89  Bitcoin / Bitcoin Discussion / Re: Less than 24 hours to Bitcoin halving and my Birthday! on: April 18, 2024, 09:02:56 AM
Well, actually, halving countdown shows that halving is more than 24 hours away. The op's link indeed doesn't work, and Nicehash link, provided by Poker Player, says that halving is in 1 day and 23 hours. Another website says it's 1 day and 16 hours away, so the estimates vary. If it's op's first halving, it can be pretty exciting. As for me, it's my third one, I believe, so it's just the end of a cycle and a start of a new one. It won't have any direct impact on the price, nothing magical will happen around April 20. Perhaps we should actually think of making halving a Bitcoin holiday, sort of like people celebrate the New Year, but for now, that's not the case.
90  Economy / Economics / Re: Financial Advice for a young millionaire on: April 17, 2024, 04:46:35 PM
I'm going to assume it's a financial hypothetical because I don't think I believe it's a real story. I watched a video about teen millionaires just yesterday, and they seemed to be intelligent, nice people. Then again, those were people who built their own businesses, and this story is about inheritance, which should be taken into account.
I think that a good idea is to buy a nice flat to start living independently. A part of money should be put on a deposit account at a reputable bank to earn interest rate (which actually makes sense when the amount of money is big). I believe that it's also good to invest in good education, good in a sense that it'll give some soft skills and maybe hard skills that are in something the person's actually interested in. Finally, giving back to the community is a good idea. It's both good for other people, and for the giver because research proves that people actually feel happy when they help others. It can be done via donating a part of money to a cause, or establishing a socially responsible project, a charity, a scholarship fund etc.
91  Economy / Economics / Re: Which country proposed the establishment of BRICS? on: April 17, 2024, 04:30:46 PM
I don't understand why the op's talking about BRICS being established, using future tense. BRIC was created in 2009 in Russia, and then became BRICS the following year when South Africa joined the organization. It's a big alliance if we look at the percentage of population and global GDP of it, but I don't think it's an effective alliance, mainly because of different political goals and different relations each of the members have with the rest of the world (especially with Western countries).
As we can see, dedollarization isn't actually happening, so if that's their common goal, they're failing.
92  Bitcoin / Bitcoin Discussion / Re: What is your biggest regret in cryptocurrency? on: April 17, 2024, 04:13:31 PM
I don't have any specific regrets, but I admit that I've made some mistakes. One was keeping some Ethereum in a custodial wallet that was very popular at that time but performed an exit scam (or was actually hacked, hard to say). I got my 40% reimbursement in the early days after the incident and still made decent profit out of it (because I bought that Ethereum for under $20), but it was an unfortunate situation. Another was with Bitcoin, and I had around $900 worth of BTC in 2017 when the price was over $15k. But the fees were very high (around $20), so I didn't sell at that point. I eventually sold it all (because I needed to) at a loss, for around half the price during the bear market.
What's important is to learn from mistakes, instead of focusing on regret.
93  Bitcoin / Bitcoin Discussion / Re: Now that Bitcoin is no longer digital cash? on: April 17, 2024, 03:50:55 PM
Financial institutions and meme coin advocates taking over is just an opinion, and it's not even supported by any evidence by the op, which is unfortunate. Which financial institutions are we talking about? Is it about the ETFs? They exist now, but that doesn't exclude Bitcoin in its pure decentralized form. As for meme coins, I've honestly not heard people defending them or talking seriously about them for a while.
Bitcoin is still digital cash, or at least it's still a part of what Bitcoin is. Sure, sometimes it's a more viable option and sometimes less, but overall, it still works as intended.
94  Bitcoin / Bitcoin Discussion / Re: Opinion: Embracing Bitcoin Satoshis for Everyday Transactions on: April 17, 2024, 03:29:40 PM
Some fiat currencies are struggling, and some are basically failed projects. However, there are a handful of currencies that are doing okay, with inflation at reasonable level and good reputation as reliable currencies. So I think it's premature to consider fiat currencies obsolete while nearly the whole global economy still relies on them.
Bitcoin is volatile, and Bitcoin transaction fees are volatile as well. Unless you go with a centralized solution, you can't just use sats to counteract Bitcoin's issues. After all, sats are parts of Bitcoin, and if an average transaction fee at some point is $10, it's $10 in both BTC and in sats.
95  Economy / Games and rounds / Re: 🚀 Sportsbet.io 🥊 Haney vs Garcia 🥊 (20 April) on: April 16, 2024, 04:24:46 PM
1. Haney
2. 1
3. Round 12
96  Bitcoin / Bitcoin Discussion / Re: Original "Buy Bitcoin" sign for sale at an auction in a couple of days on: April 16, 2024, 04:19:43 PM
I think signs like this are best places at museums. I tried to google crypto museums and Bitcoin museums and couldn't unfortunately find any that are offline, so maybe it's something for the future. But there are museums of money, and it's about time for them to have something Bitcoin-related because Bitcoin is a part of the history of money.
The sign doesn't have bids yet, but the auction hasn't started. I wonder how much it'll cost the winner.
97  Bitcoin / Bitcoin Discussion / Re: Will increasing banking restrictions lead to a rise in P2P transactions? on: April 16, 2024, 03:58:31 PM
Thankfully, banks are very chill in my country (about pretty much everything up to a certain financial threshold), and dealing with cryptos is very common, so such things aren't common in my country. Moreover, people often use platforms where you just make a transaction after placing an order, but don't keep your money on the platform. The platforms are still centralized, but they have a lot of reviews and since you're only risking the money for one transaction, they are convenient.
Trusting individuals is sometimes more difficult than trusting a website that specializes in a certain activity and has a lot of positive reviews, so I'm not sure that it the future.
98  Bitcoin / Bitcoin Discussion / Re: Isn't Altcoin a distraction to Bitcoin adoption? on: April 16, 2024, 02:50:25 PM
Actually, not all altcoins follow the price movements of Bitcoin. There are plenty at any moment that have their own things going on. Those are often coins that have a relatively low market capitalization and are being pumped or dumped. If you want to look at them, you can sort coins on a website like Coingecko by price change over 24 hours and over 7 days.
As for altcoins being a distraction, I'm not so sure. On the one hand, I think that the vast majority of altcoins are just rubbish. On the other hand, I guess thinking about Bitcoin and altcoins in that context is a zero-sum mindset (one's loss is another one's gain and vice versa), whereas I'm more supportive of a positive-sum mindset (we can all have gains). I honestly don't think that Bitcoin would've been doing better if there were no altcoins.
99  Economy / Speculation / Re: If China Supports Crypto, Where Can Bitcoin's Price Go? on: April 16, 2024, 02:36:16 PM
When the news about Hong Kong broke, I figured people might start speculating about adoption of cryptos in China. I don't think it's going to happen, as Hong Kong is a special administrative region, so there are special policies that apply only to this region. China is the second-largest economy in the world and the first-largest (or the second-largest, by some estimates) country by population. If China warmed up to Bitcoin, it would have a major impact because of these two factors. But I don't think that will actually happen because China is all about control, and Bitcoin is about freedom.
100  Economy / Economics / Re: World need urgently decentralized kind of Fiat currency not USD on: April 15, 2024, 02:52:06 PM
A fair and decentralized payment option is called Bitcoin, and it's widely available. It's not under any nation's control, the price is just based on the free market, and one can obtain a small part of it, so it's accessible. It's not perfect, but it works, and there are some places around the world where you can use it as payment. And yes, you can keep BTC in self-custody, unlike digital fiat.
But a decentralized fiat currency is a weird idea, I agree with hatshepsut93 on that (and about the USD, too).
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