What is your opinion about this? Does this lead the USA, as a giant country, to become crypto-friendly in the next year? The only ones who don't support crypto, are those who have never used or owned it. It can't be underestimated how many unfortunates in the world were raised to think that learning, growing and trying new things are inherently bad. Especially when it comes to money. There's a powerful sentiment that says people could never be involved with stock markets, bonds, FOREX or crypto without being scammed and losing money. Many believe they should only use banks and rely on state approved programs like social security. Their basic education never covered hyperinflation or the great depression. They have 100% confidence that banks and government programs are reliable and safe. And everything else is a scam. I think that's a key obstacle cryptocurrency must overcome, if it is ever to reach a high percentage of mass adoption. Maybe it also helps to recognize the negative attitude which prevents many from using crypto, in ourselves, as a regressive thing. |
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Celsius network still offers up to 17% rates. https://celsius.network/earn-rewards-on-your-cryptoThe global price of oil appears to be rising, which raises shipping prices and basic cost of manufacturing. Supply chain issues with semiconductors and other vital components also appears to be on the rise. These and similar precedents could converge to paint a gloomy illustration of long term stock market returns. Short term market plays could be ok. But I wouldn't invest in the market long term due to the outlook appearing bearish. Bull markets are the best time and place to invest as it becomes difficult to lose money. There are always opportunities, everywhere. Treat it like its a video game. Hunt for the best options. Grind. Gain experience. Level up. Don't take huge risks until you're confident you can win at whatever investments you're making. |
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Today's vote is against raising the debt ceiling. I seem to remember the last shutdown occurring when Obama was President. Not everything closes down. Essential segments of the government continue running. Government Shutdown Looms as Senate Republicans Block Debt Ceiling, Funding BillAfter clearing the House last week in a party-line vote, Senate Democrats failed to sway 10 Republicans to reach the 60-vote threshold needed to overcome a filibuster and move forward with the continuing resolution that would, among other things, keep the government funded at current levels through Dec. 3. No Republicans supported the procedural vote. Monday's unsuccessful vote puts pressure on Democrats to rethink how they'll renew government funding over the next few days. If a short-term plan doesn't clear Congress and get signed into law by midnight Thursday, the government faces a shutdown the next morning. https://www.msn.com/en-us/news/politics/government-shutdown-looms-as-senate-republicans-block-debt-ceiling-funding-bill/ar-AAOT0hw On the bright side, if a shutdown occurs, they can't vote on or pass the infrastructure bill containing crypto regulation (which many disapprove of). I'm surprised to see this much disagreement between parties. The current era could be the most centralized the US government has been in its history. They have until thursday to raise the debt ceiling. |
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US states like texas could have millions invested in local crypto mining. Why bitcoin entrepreneurs are flocking to rural TexasMiners have since been scouring the globe for places where electricity is cheap, and many have settled on Texas as their destination. Texas’s power grid is deregulated, which means customers can choose between different power providers and providers are thus incentivized to provide low rates. Mining facilities can set up long-term contracts with power providers that allows them to purchase electricity at a fixed price for many years, says Jason Les, CEO of Riot Blockchain, a US-based cryptocurrency mining company. Riot Blockchain recently acquired Whinstone US, the largest bitcoin mining facility in the US based in Rockdale, Texas, for $80m. Whinstone says its facility can produce 500 bitcoin per month – worth a total of $22m at bitcoin’s current value. When demand for electricity goes up, particularly in the summer months, Texas power companies will actually pay mining facilities to lower their energy usage. Along with the Argo and Whinstone facilities, BIT Mining, a Chinese mining company, has invested $25m to build a mine in Texas. https://www.theguardian.com/technology/2021/aug/17/bitcoin-cryptocurrency-mining-texas Will we see a clash between federal government attempts to regulate crypto. And states like texas attempting to protect local crypto mining industries. This bill keeps getting worse and worse for the crypto industry, because no one is making any noise... https://www.youtube.com/watch?v=SXFOSaMoX6g'Strike The Whole Damn Thing': Senator Ted Cruz Calls For Crypto Rule Drop From Infrastructure BillNoise is being made. Most will never hear or know of it. But there definitely are many speaking out in opposition of crypto regulation in the infrastructure bill. |
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I'm just curious because AFAIK gambling is not totally illegal in my country, so I have the liberty to gamble on the sites that I like to use. Have you noticed an increase in negative content published about gambling addiction? It seems there is a global campaign to crackdown on gambling. A war on gambling. Like the war on drugs and war on terrorism. There are also many exchanges who do not comply with KYC reporting requirements being forced to shut down. Gambling sites who do not comply with KYC reporting may also be forced to discontinue service to some regions. I live in the USA and see many of those messages you took a screenshot of everywhere. On crypto exchanges, fantasy sports websites, gambling sites. Even shopping on amazon. There is a long list of things I cannot buy on amazon due to state bans. |
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Basic fundamental ways US infrastructure bills could affect cryptoUS infrastructure bills represent trillions of dollars in additional spending and inflation. Which could increase the value of inflation protected assets like bitcoin. Higher inflation could correlate with a greater number of people recognizing the dangers and seeking ways to protect their wealth. Which could drive cryptocurrency mass adoption to greater heights. Inevitably taxes would need to be hiked to cover the enormous cost of these bills. Governments could be incentivized to find new revenue streams to balance the budget. Legalizing marijuana and cryptocurrency could be natural markets to nurture and protect in order to grow tax revenues. It all depends on state priorities. I also wondered why the crypto market does not react to what is happening in the US In 2020 there were news stories published about a virus in china negatively affecting supply chains, for weeks or months, before the market finally crashed. Markets have failed to trend the way they naturally should for many years now.
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https://www.youtube.com/watch?v=DYLvajNBr0YTrading Crypto Ep.1: The BasicsCrypto Tips Excellent introduction to crypto trading, the best I've seen. She makes a great point on stablecoins being a preferred standard of trading being that they limit volatility to only one side of the trade. Exchanging two crypto assets like bitcoin for doge or ethereum for ripple exposes both sides of the exchange to volatility and price shifts. Exchanging tether for bitcoin exposes only the btc side to volatility. Its a good example of how stablecoins can be useful and what niche role they fill. As a 10 minute video clip, it does a great job if illustrating some of the complexities and angles to trading in a way that is useful, from someone who is both experienced and successful. Which isn't something that happens often. Usually content like this is formatted within a wikipedia approach, containing basic encyclopedia information that isn't particularly useful or relevant. It really helps to have someone experienced who can highlight the key info. I have seen many posts on this forum from people asking for information on crypto trading and never had a good tutorial I could link them to, until now. Hope someone can find this information useful.
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Twitter is following in the footsteps of brave browser including a feature to tip twitter content with BAT.
Twitter CEO Jack Dorsey is said to be running a bitcoin node, and "sold" a NFT of his first twitter post for $2.9 million dollars early in 2021. (Did he sell his NFT to one of his alt accounts?) He appears to be setting himself up to be a public figure in crypto. Although exactly what his intent or motive is, has not been clear.
Twitter used to be a good social media platform. But its reliability and legitimacy has waned over time as politics has increased pressure on social media to censor content. The mechanics and algorithms of twitter now make it seem like a ghost town. There are accounts with more than 20,000 followers who barely draw any impressions or replies. It has become a strange place where demonstrably wrong content receives many likes and retweets. While accurate posts receive no attention at all.
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So is it true that bitcoin price volatility will decrease by itself as bitcoin adoption reaches higher levels? Market mechanic based principles like nominal rigidity assume a stable world with stable conditions in financial markets and the economy. High inflation, pandemic lockdowns, supply chain disruptions or any of the crazy and chaotic events of the last 2 years are not factored in. Ditto with the insistence of china and central banks around the world to aggressively target inflation protected assets like bitcoin. Or the media neglecting to publicize positive aspects of cryptocurrencies as a normal trend. Alternate terms to describe "nominal rigidity" could be principles like momentum, inertia and terminal velocity. High volatility assets which fluctuate wildly could gradually lose momentum over time due to their own inertia (the mass of which could increase through mass adoption, no pun intended). Two separate principles which over time deplete an assets terminal velocity, producing lower average volatility. There's an attempt to define the principles involved anyway. Hope it makes sense. |
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Elizabeth Warren is sometimes called "Pocahontas" by americans. She claims to represent a minority of native american indians by heritage and ancestry. She took a genetic test to support these claims. The test concluded she may have had a single native american ancestor "6 to 10 generations ago". People might want to take anything most american politicians say with a grain of salt. We're usually not sending our best or brightest when it comes to politics.
US healthcare and welfare programs routinely send out billions in aid which turn out to be fraudulent. I think I may have seen articles published by approved media sources claiming the upper ceiling for this figure could range in the hundreds of billions. $80 million is an insignificant sum in contrast to waste and inefficiency perpetrated by state bureaucracy.
American reconstruction efforts in afghanistan alone could have costed in excess of $100 billion.
Its not hard to label Elizabeth Warren's comment as the pot calling the kettle black.
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This appears to fit everything I said over the past 2 years about left wing politics being anti crypto.
With the demographic most likely to support bitcoin and cryptocurrencies being the political right.
I would be curious to know if the USSR had the same mentality of restricting innovation and progress that china does now. And whether that regressive mentality factored in to the USSR's economic implosion. They say history sometimes repeats itself, due to people being determined to never learn from it. Might it be accurate to say that china is USSR 2.0 and the conflict between it and the rest of the world resembles something like a sequel to the cold war?
Unfortunately, this announcement comes hot on the heels of south korea announcing tougher regulation and tax hikes on crypto. We need good news in the cryptosphere to negate the bad news.
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Here is an interesting angle to the artificial intelligence discussion which is seldom mentioned. Machine learningThe term machine learning was coined in 1959 by Arthur Samuel, an American IBMer and pioneer in the field of computer gaming and artificial intelligence.[10][11] A representative book of the machine learning research during the 1960s was the Nilsson's book on Learning Machines, dealing mostly with machine learning for pattern classification.[12] Interest related to pattern recognition continued into the 1970s, as described by Duda and Hart in 1973.[13] In 1981 a report was given on using teaching strategies so that a neural network learns to recognize 40 characters (26 letters, 10 digits, and 4 special symbols) from a computer terminal.[14] https://en.wikipedia.org/wiki/Machine_learning#History_and_relationships_to_other_fields .... Neural NetworkMcCulloch and Pitts[8] ( 1943) created a computational model for neural networks based on mathematics and algorithms. They called this model threshold logic. The model paved the way for neural network research to split into two distinct approaches. One approach focused on biological processes in the brain and the other focused on the application of neural networks to artificial intelligence. In the late 1940s psychologist Donald Hebb[9] created a hypothesis of learning based on the mechanism of neural plasticity that is now known as Hebbian learning. Hebbian learning is considered to be a 'typical' unsupervised learning rule and its later variants were early models for long term potentiation. These ideas started being applied to computational models in 1948 with Turing's B-type machines. Farley and Clark[10] ( 1954) first used computational machines, then called calculators, to simulate a Hebbian network at MIT. Other neural network computational machines were created by Rochester, Holland, Habit, and Duda[11] ( 1956). Rosenblatt[12] ( 1958) created the perceptron, an algorithm for pattern recognition based on a two-layer learning computer network using simple addition and subtraction. With mathematical notation, Rosenblatt also described circuitry not in the basic perceptron, such as the exclusive-or circuit, a circuit whose mathematical computation could not be processed until after the backpropagation algorithm was created by Werbos[13] ( 1975). https://en.wikipedia.org/wiki/Neural_network#History Most assume artificial intelligence is a new field of IT science. Looking at these wiki pages on neutral networks and machine learning we can see that the origins of AI research actually date back to the 1940s and 1950s. Artificial intelligence research in math and computation has been around for a very long time. Recent breakthroughs in AI come from moore's law and the number of transistors in a given area doubling. Which could mean all of our future progress in AI depends on the continuation of moore's law. And that we have a lack of progress being made on the software side of AI, which may not have advanced much over the span of decades. |
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If nigeria's central bank succeeded in launching their CBDC on schedule with the promised features.
I might assume they *borrowed* open source code from a successful cryptocurrency project and forked it to suit their needs. It would be a fork of litecoin or another existing alt coin and not a true CBDC at all. There's a chance there will be no launch of a nigerian CBDC at all as venezuela did with their promised CBDC the petro.
The planned october 2021 nigeria CBDC launch date is the month when rumors claim crypto ETFs in the USA could be approved. There's a chance that we could see a flurry of activity in october 2021. If it is true that the taproot expansion to bitcoin core is a type of "game changer".
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AFAIK hungary is on the right wing of the political spectrum.
Their recognizing Satoshi's contributions in the form of a statue, parallels right wing demographics in texas, florida and brazil offering friendly conditions and regulation to cryptocurrencies.
I like the design of the statue posted and leaving Satoshi anonymous. Wonder if this could start a trend of Satoshi portraits and busts worldwide. If there isn't already an existing market.
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Dubai is an attempt to create value and wealth for a future world where middle eastern oil reserves have run dry. On paper everything about it is great. Except for the high temperatures. It naturally makes sense for them to offer a welcoming environment to crypto markets to offset some of the negatives present with the weather, which has been said to be unbearably hot during the hottest months of the year.
Attracting long term residents has to be one of their top priorities to guarantee dubai maintains a sustainable and flourishing population and doesn't wind up a ghost town. And so it is possible they will offer positive long term policies for crypto HODLers, crypto nomads and those who might care about those policies the most.
I still think that if we have problems with climate change and rising sea levels. It makes sense to desalinate ocean water and pump it into the middle east to transform desert regions into tropical forest land via afforestation. The process could have a natural cooling effect on the region, making it more hospitable to human life.
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The cultural shift towards worshipping money and power could be palpable and easy to define.
In the 1970s to 1980s, many gang leaders in the united states encouraged gang members to settle disputes with break dance battles rather than violence. That could represent an idealistic and civilized perspective of an era where human life, honor and values are recognized.
At some more recent point in history, the majority involved in gangs and organized crime sold out and became all about money and power. They don't encourage people to be honorable or settle fights with break dance battles anymore. All they care about is money. Human life is worth nothing to them.
That precedent also applies to the business world, religion and many aspects of life. There are many examples and historical trends which define the shift.
Around the time of the great depression, sears sold prefabricated houses. Due to the great depression many who bought prefab homes from sears could not afford payments. Sears declined foreclosing on their homes as they deemed it immoral. Could anyone imagine banks behaving like that today.
Long story short, money and wealth rising to prominence as dominant ideology is definitely a thing. But perhaps there is room for some type of backlash and counter culture movement towards the polar opposite. Its up to people to decide what type of world they want to live in.
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GGG is still undefeated. I wish they would wipe that "loss" and "no contest" to Canelo off his record. This reminds me Floyd Mayweather vs Tenshin Nasukawa fight, were Floyd just flew to Japan to have an exhibition fight, that more looks like a sparing. That evening Floyd has earned 9 millions for 2 minute boxing against a kickboxer. GGG fight is going to be the same - it is all about money.
Mixed martial arts in japan exploded back when Kazushi Sakuraba was in his prime. They hosted events at saitama super arena that consistently drew crowds of around 50,000. Japan has tried many times to promote another japanese combat sports star into being the next Sakuraba. They did it with the Tenshin Nasukawa vs Floyd Mayweather "exhibition" fight. I guess they're trying again with Ryota Murata. It is not only a business thing. Japan's population and birth rates are declining. There could be a concerned segment of the population that wants to encourage japan to be a little more manly. Who views combat sports as a path to accomplish this. Japan could also be threatened by china atm. And so they need to encourage the warrior spirit of their people to prepare for potential future conflicts and wars which could lurk past the horizon. |
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Although venezuela is known as a poor country. The caracas dam once provided free electricity which venezuelans used to mine bitcoin. This was years ago btw when hash rates were lower. It could be more worthwhile for poorer miners to try to subsidize or distribute their electricity costs, rather than approach from an angle of mining algorithm adjustment.
In thinking about alternative ways to generate power for crypto mining. I've wondered if steam engines could be better suited to the role than solar or wind. That could be something that is worth looking into.
Golf as a sport, isn't something I'm a fan of. But they do have a handicap system, which attempts to give less skilled players a chance of playing competitively with skilled players on the course. Something similar could be applied to a mining algorithm. Where miners with low hash rates would be given a boost, some type of advantage which would make them more competitive with those who have a higher hash rate. That could be the approach to take with a token or coin intended to benefit lower end miners.
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How would the economy of a coin would change if instead of sending the transaction fee to be mined, the transaction fee was frozen and 1 year after it it would be sent back to the wallet. The user wont lose that money, but still can't keep making tons and tons of transactions to spam the blockchain. The business model of the crypto mining industry would shift to adapt. Miners would seek ways to consistently and reliably profit from holding transaction fees for 12 months. There would be an additional abstraction layer added where miners would try to earn 100% interest on transaction fees in 1 year. To enable them to profit from fee holdings, so that they could essentially keep it. In a way, what you're describing is a financial perpetual motion machine. Which continues to operate reliably and efficiency on a near -something for nothing- model of energy/capital. Its commonly said that people get what they pay for and reducing transaction fees in this way, could result in reduced hash rate, performance and reliability. Then again, maybe you have a good idea here. Maybe it is possible to reduce or eliminate transfer fees to a good degree. That could be a neglected area software designers haven't applied much focus or emphasis on. |
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One of blockchains known roles is maintaining the data integrity of transactions in a public ledger. Recently there has been an explosion in blockchains being used to maintain the integrity of databases in games. And it seems gambling establishments are also using blockchains to record and maintain the data integrity of gambling records.
There could be additional roles for blockchain maintaining the data integrity of internet archives, public records and similar information.
What might be cool is if some of the calculations the casino game engine uses to determine a win or loss result were recorded in a blockchain to maintain the authenticity and fairness of the system. That could be a next level of "provably fair". Although it could also be dangerous for casinos to divulge that much information about their algorithm. Maybe it could be done with the RNG (random number generator) algorithm omitted.
That's an interesting point on it being listed under privacy. They could use a private blockchain rather than a publicly accessible one.
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