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2201  Economy / Economics / Re: Fake COVID-19 vaccines....by Paying in Bitcoins on: December 16, 2020, 02:04:53 PM
Bit not surprising to know that Bitcoin is being linked with production or purchase of vaccines. These two are having  wide popularity this year and ofcourse there will be people who will take advantage of the situation because of money. I do believe that vaccine is already being Secretly distributed but only to those who are rich because they'll be the ones to be able to pay huge amount for the sake of assurance that in the first place, exclusivity will be promoted due to high demand of the vaccine. And for sure there are people who will use the popularity to make money out of the situation. Why Bitcoin? popularity could also be the factor but I think its decentralisation will be something as its introduction to those who are not really aware of its nature. Instances more likely states that transaction will not be traced so things will be under the table. Then those who can afford, will bite the opportunity. It is just a sad reality we are having that heirchy will be obvious during tough times.
2202  Bitcoin / Bitcoin Discussion / Re: Can Bitcoin ever be use as other country currency on: December 15, 2020, 04:11:50 PM
Yes I believe, in countries which are underbanked or underdeveloped. Bitcoin would surely fix problems such as counterfeit money. It is never going to be a country's main currency though.
That's too much of an expectation. Being used as a currency is already a thing but for a country to use it as its own currency on daily transactions is already something. Keep in mind how decentralisation affects the acceptance of this technology. A currency to be used in a country or across countries is something which is accepted by other countries or is something recognize by the majority and not merely a currency which is just popular. Try to compare the characteristics of Bitcoin to fiat currencies. There are indeed advantages of Bitcoin over fiat but still, it is lacking in aspects which are more important such as having no risk of putting your "all" into it as well as being supported by governments, which are characteristics under regulation. So maybe it would be impossible for not only Bitcoin but to this industry in general to achieve such acceptance even in the future.
2203  Bitcoin / Bitcoin Discussion / Re: Bitcoin is my Bank on: December 15, 2020, 03:13:51 PM


Now I have accumulated a small amount to be able to reopen a bank account but I think that instead of opening a new bank account, it is be better to just buy and invest in bitcoin so that I can expect more profit than the traditional bank.

I know that investing in bitcoin is risky but I also believe that bitcoin has a good future.

I just hope I made the right decision.
Investing is a good idea but keep in mind how the market  behaves in an uncertain way. Profit is not always assured if you won't make a good analysis to when will be the good times to invest or sell. Holding for a long period of time won't guarantee huge profit simply because the market price is not totally increasing in a manner which is continuous. Volatility is in nature and many of us are aware of it. What's my point? whether to keep All of your money in Bitcoin or Bank, that will depend on your preferences and circumstances. Doing so will definitely put you at risk because it is investment in the first place. It is not a traditional asset wherein there is a bigger chance for its market value to continuously increase every year. So, I suggest having a concrete plan. In my case, I allocate an amount for investment, and amount in banks for future and emergency purposes to put things on balance.
2204  Economy / Economics / Re: Pandemic will bring more economic progress in long-term... on: December 12, 2020, 04:01:18 PM
Have you seen any changes in your working environment like these?

Yes. Many public services have switched to digital and are now available online. This is a positive thing that came from this pandemic.

Being exposed to technology especially in the aspect of online activities do not speak for economic progress, even on technological innovation. Exposure is due to the situation itself wherein people are having no other option but to do so. But still, it won't change the fact that there's no innovation occurred during this pandemic aside from creation of vaccine so I guess it won't contribute to long term economic DEVELOPMENT*. This has something to do with misconceptions. Exposure to something won't always result to progress or development. Things are far different and I'd say we are still far from that digital age at this moment, probably still in the middle of progress. Being exposed to online activities is also not a positive thing to view during this pandemic because those services who shifted to online platforms, just made adjustments and there's still a huge difference in the aspect of overall functionality of those services, which simply displays struggles on their side.
2205  Economy / Economics / Re: The volatility in the price of a bitcoin is falling over time on: December 12, 2020, 10:01:40 AM
Quite in contrast with the definition of volatility. Volatility speaks for inconsistency so it would be impossible to know if the market is not having low volatile but rather, being less volatile, especially such characteristic is in nature. The market I think will be the same even in the future because there is a limited supply and its price will only be determined by the demand in the market as well as the volume.
 
One more thing regarding the volatility of Bitcoin's. The higher the prices the higher in USD terms can be to show as volatility. A bitcoin price of 20,000 USD is not that much impacted of a 1,000 USD drop as a bitcoin price of 10,000 USD. And another feature we see right now is that more and more investors join the market. Once the market drops we would see a lot of opportunity buyers buying the coins.
The market value of USD is not interconnected with the market price of Bitcoin so comparing won't really have a sense other than getting or forming assumptions. Volatility as well will not be affected by the vast increase on the number of people engaging to this technology especially due to the fact that not all people who are interested are actually making an investment.
2206  Bitcoin / Bitcoin Discussion / Re: I quit smoking and buy Bitcoin every week on: December 11, 2020, 07:57:21 AM
You have conquered two things I guess; overcoming an addiction and having the courage to invest into something which could be profitable.

Smoking is one of the hardest things to quit in line with other vices and habits as an individual. Being exposed into it would be more likely followed by addiction due to addictive chemical content such as nicotine. Engaging to investment on the other hand I think, is something not anyone could do because of fear from losing, as a possibility. Quitting an unwanted habit is a thing, but diverting it into something which would be beneficial is already something to be proud of which is something to celebrate with.
2207  Bitcoin / Bitcoin Discussion / Re: Your Life After 10 years in Bitcoin... on: December 07, 2020, 05:43:56 PM
I have known bitcoin since 2012 but I regret that at that time I did not hold the bitcoins I got from the faucet, I never thought bitcoin would become big like this, I don't know in 10 years if it will get bigger again, we know bitcoin is decentralized, and me too hope bitcoin will always be big and other crypto altcoins follow in its footsteps
Only few people believed and anticipated that its market value will be expensive in the future so it is not really surprising to know more people did not trust this technology at first. The reason I think is lack of support from the masses. Since the idea is quite revolutionary for a currency to be decentralized, having no support to majority of the governments before, many people were in doubt. But at this moment, as development occurs, more countries are now recognising its advantages and adoption can now be seen. In the future, changes will be more observed and we should be excited about it as users of this technology.
2208  Economy / Gambling discussion / Re: Do the odds of other outcomes matter to you? on: December 07, 2020, 05:11:58 PM
I do not properly understand how the odds work yet, but if it's what I think it's then I would probably bet on the match that has the likeliest winner and has other two outcomes with way less likely winners. Or I would probably double bet on the match with other outcomes that also has pretty likely winners. I guess the double betting for two outcomes in a match applies here?
You've got the idea of these odds. But double betting is not applicable most of the times especially if the winning team is only one. Double betting is only advisable to cases wherein there are two or more outcomes which will generate the win, because it is perhaps a matter of increasing the probability.

 Odds should be considered as a gambler and it is not a good thing to go only with your bias. The goal is to win in gambling and not solely to give support on your bias/es. If you're not sure, there's an option not to bet, or to just minimize in order to avoid huge losses.
2209  Bitcoin / Bitcoin Discussion / Re: Help my by answering 4 question! Thanks alot! on: December 07, 2020, 04:36:52 PM
- What do you know about bitcoin (3 sentences)

A lot. your question is too broad and I can't answer it directly since Bitcoin can be in any form, payment, investment, used in illegal and many more.

-  Is bitcoin or are shares more popular and why?

No they are not shares and they are different from share. I think shares is more popular since you can find it in every big companies and Bitcoin was not yet accepted worldwide.

- Is there still enough enthusiasm for bitcoin and why?

Yes due to the big companies that is adopting Bitcoin many enthusiast are now looking forward in cryptocurrency and in Bitcoin.

- What would you recommend each bitcoin starter to do?

Start with these basics:
1. What is Bitcoin on youtube and how does it work
2. What is wallet, address and how to create one
3. What you can do with Bitcoin

ya.ya.yo!
Information in YouTube would be also broad because videos are majority concerned with the general concept of what Bitcoin is, answering only the core idea of it. I think it would be better to ask other people who are more knowledgeable into this technology than to just watch or read articles of this topic. Wallet on the other hand is applicable to not only Bitcoin but to all digital currencies. The last question I think is fair enough because it would be more helpful for an individual to first know the usage and purpose of something he is not that knowledgeable about.

I'd choose to answer the last one since my answers to other questions would be almost the same with other replies in this topic.

"What would you recommend each bitcoin starter to do?"
1.Know why you engage yourself to this technology.
2.Ask for other's opinion about Bitcoin to gain general idea of it.
3. Seek for deeper explanation through articles online in order to further understand this technology.
2210  Economy / Gambling discussion / Re: How tricky is this? on: December 07, 2020, 03:55:15 PM
"In an accumulated bet, why is it often the last games that goes rugged and you end up loosing what's supposed to be a best bet and was already preparing for a cash out or the next step"

I don't think this is the case. It's just that it's more noticeable when it's the last bet.
Similar to how whenever you join a queue at a supermarket, it feels like it is always the slowest moving queue and people in the nearby queues are getting to the checkout much quicker... but actually what is happening is that you only notice it when you're in the slower queue... when you're in the faster queue, you never even think about it.

This might be the explanation for the "syndrome" they are talking about. The fact that the last bet is noticeable in an accumulated bet, makes it more crucial, and thus inflicts a sense of loss in our minds. We don't really happen to count all of the wins and losses in an accumulated bet, but instead, we most probably notice the first and the last bets when you put it in a spreadsheet.
There's no syndrome related to this. As for what I have read, it is more of an "end-of-the-day betting effect" developed by McGlothlin (1956) and Ali(1977). This idea states that there is a change on the gambler's behavior regarding their risk-taking habits in which they tend to bet higher in their last bet in order to cope up with their losses. Which more often yield to bigger losses than the assumed outcome of regaining what's lost. But I'd view this as either greed or frustration. Greed will exist if a gambler has lots of winnings but still chose to bet all of its for a bigger profit, while frustrations are for those who lost huge amount. How to resolve this problem? Simply impose self-discipline which is not as easy as it may sound.
2211  Economy / Gambling discussion / Re: Japan becomes more friendly towards Gambling on: December 07, 2020, 03:06:45 PM
Gambling is just in contrast with societal norms. But governments will make a way in order to make use of something which cannot be stopped or totally controlled. In my country, there's this sin tax to regulate those things. This is applicable to vices such as cigarettes, alcoholic beverages and gambling. Once something is regulated, tax will be imposed in order for such activity to be allowed. So that's more likely what happened to gambling industry in Japan. The question should now be concerned on the rate of tax to be imposed in this activity whether it would be too high for the gamblers or just fair enough for this activity to continue.
2212  Bitcoin / Bitcoin Discussion / Re: Who has held bitcoin for more than 5 years? on: December 07, 2020, 02:00:44 PM
Hey Guys,
Just curious to see who has held bitcoin on this forum for more than 5 years?
And also, if you've sold it, when did you got in and when did you sold out?

Cheers!


I first purchased BTC in 2012. The during 2012-2013, I received a lot of BTC from various faucets and other give-away sites such as Rugatu, Bittrivia and Bitcointalk signature campaigns. Unfortunately, in 2013 I lost around 60% of my coins when LitecoinGlobal closed down. And again, in 2015 I was facing some financial hardship and I had to sell around 75% of my remaining BTC for $200 per coin.

Then from 2016 to current date, I continue to sell some of my remaining coins.

Now I have around 10% of the coins that I held in 2013.
Misconceptions I think many people are having is that holding is the only thing to do once you've invested into something. But that's absolutely wrong. The market price is not continuously and consistently increasing over time. Market analysis is needed in order for an investor or user to make decisions whether to invest or sell at a certain point because that would generate income not holding alone. Profit from holding for years won't be as big as profit from selling at certain price points, "bullish market" times to be specific. The will be losses to some cryptos because not all cryptos are having price increase especially the small ones in this industry.
2213  Economy / Gambling discussion / Re: [Boxing] Floyd Mayweather vs. Logan Paul - February 20 on: December 07, 2020, 01:16:25 PM
Floyd has the advantages in all aspects. Size won't matter that much in Boxing if you cannot utilise it. I am not his fan but he will more likely get this match 'without sweat'. Professionalism matters not only in this sport but to all branches of it. Logan is an amateur on this thing. But what's important is why and how this fight was created. Money? that's how many people see this. Both has popular and that I think made this match possible. Floyd won't fight someone without having something in return, and that's for sure. Probably not a toe-to-toe fight as how I will view this match up. But props for those who made this possible.
2214  Other / Beginners & Help / Re: Newbies + Bounty = Zero future on: December 07, 2020, 12:08:14 PM

One thing's for sure though, it's pretty evident that a lot of them really don't give a crap about bitcoin and cryptocurrencies and there's nothing we can do about that.
Maybe they are not aware but there are some who are, but their actions won't give them anything. The standards on bounties are now "higher" than before wherein there are projects accepting low rank participants but things are now different. Most of the time, projects prefer Sr. Member rank and higher. Full members are not even having huge opportunity in projects, so what more if the ranks are lower. Eventually they will be more likely pushed to work with their ranks. For sure they are here in this forum due to rewards and not merely discussions alone 'coz what will they get from doing so? It will trigger a domino effect. They would work on this forum, pushing them to interact with other users which will eventually give them knowledge of what this technology is all about.
2215  Bitcoin / Bitcoin Discussion / Re: Different opinions about bitcoin on: December 07, 2020, 11:25:59 AM
Opinions are subjective, it is just as how they think of or understand something.
Difference of opinion about bitcoin is based on the difference in the level of understanding and the difference of interest the users had in learning/knowing about bitcoin. Most commonly I've heard people describe bitcoin as a specific asset developed for the gambling needs. This is much into the minds of people who aren't aware of bitcoin for other needs. In such a way people have got varied level of understanding that makes them believe and stand on it without exploring to know further.
Actually this technology earned different usage to people. It is a digital currency in its nature but the idea, as mentioned by others,  evolved depending into its benefits to an individual. What is obvious is that cryptocurrencies are more often used as an asset or investment in which once could make profit from. In some areas, it is a normal currency but the difference is being decentralized for which transaction fees are lower and faster. Maybe the difference with the understanding about this technology is caused by the prohibition on its usage. In some countries wherein it is not yet adopted as a medium, the only way they could make use of this, is through investment.
2216  Economy / Speculation / Re: Should we keep bitcoin or not? on: December 06, 2020, 06:33:05 PM
Depends on your "tolerance" as an investor or your market analysis, to what action should be done. It'll be nonsense to ask other people what to do because it is you who will decide whether to hold or not, bottomline is lack of certainty on how will this market behave the other day. Perhaps I'd encourage you to hold, but the market price suddenly fell and did not manage to recover within this year;regret is more likely to be acquired. Or to put it on the other way wherein I ask you to sell, but the market price continue increasing. I hope you get what we are pointing which is to decide for your own investment not to watch you regret but for you to learn.
2217  Bitcoin / Bitcoin Discussion / Re: Four Years of Living on Bitcoin Alone. Can You Beat That? Is that even possible? on: December 06, 2020, 06:10:50 PM
Sounds not as accurate as what happened in their case. Way back 2017, there are only few countries wherein cryptos are not widely accepted as a mode of payment so it is hard to believe that it is Bitcoin which they used to buy their needs as individuals. Also, the market price is volatile and they might be that lucky to be able to know ehen to buy and to sell in order to prolong their funds, which is a bit hard knowing that the market price is volatile in its nature. I honestly won't do such thing. Liquidation of all my assets to put it into something which will give me no assurance of earning profit. Well, good for them they made it through years.
2218  Bitcoin / Bitcoin Discussion / Re: Accidentally sent too much bitcoins.Company wont refund rest.What are my rights? on: December 06, 2020, 05:20:38 PM

Proofs would settle this.
Try to file a lawsuit against the company and if that won't work, try looking for someone which has higher authority than that company. And if nothing still will happen, publish the scenario online. It won't be a case against you  such as libel IF your argument is factual and is having enough evidences that will show the irresponsibility of the company. This won't guarantee actions bringing back the money lost but it will leave an image which will affect the company for sure as a counterpart. These are the ways I think OP could make to give justice to what happened.
2219  Economy / Speculation / Re: Bitcoin will increase 20X in the next 5 years on: December 06, 2020, 04:34:07 PM
I don't understand why people compare gold with bitcoins. There's no comparison and if the gold cost goes up it won't influence the bitcoin market.


Maybe the idea that Gold is assumed to be the best physical asset while Bitcoin is on the Digital version, links these two on each other. But that's indeed true, the market price has no correlation with one another but the idea on these two as "best" investments makes somewhat of a connection resulting to comparison.

20x of an increase in the market price could either be possible or not. Despite of being realistic, that a decentralized digital currency as an investment, will have such market value, possibility speaks for its definition wherein there is a chance or even the slightest. In my opinion, price would be around $30k or maybe $40k. Not go be a pessimist but I think it would really be impossible but I won't disregard the possibility of its occurrence. What makes me in doubt is the nature of price increase inconsistencies in this industry.
2220  Bitcoin / Bitcoin Discussion / Re: Taxation of 30% on gains from Bitcoin investment? on: December 06, 2020, 03:50:54 PM
Maybe this would work on third party networks, since it speaks for profit from investment which will more likely be determined upon converting your cryptos to fiat. Bitcoin and other cryptos are having a good run for this year and to how I view this, given that economies are struggling at this moment, they will hold to things which will generate money to suffice the needs of the economies and to avoid total crisis, perhaps in this case taxation or regulation to crypto investments. Trading was banned in India before and was recently pulled the decision to just regulate this technology in that area. People of this region won't be able to do anything from it unless there will be an alternative way for them to avoid being taxed whenever they will convert to fiat.

The question I am having is that, what if the market again become bearish? Will they still choose to regulate this technology or to again prohibit its usage? 'coz I think they just allowed the use of it in order to generate taxes on the opportunity this bullish market is having.
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