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1701  Economy / Economics / Re: Why devaluation of currency a big step toward economic growth. on: August 02, 2021, 05:07:14 PM
Since china is one the most exporting countries in the world, china devalue the Chinese yuan which made imports expensive and export cheap.


I think corporate profit margins are defined in terms of units sold. A car sold by general motors might have a $5,000 profit margin. This leads the private sector of major export nations to try to devalue their native fiat currency to sell a higher number of units, which looks better on paper in terms of revenue and profits.

Example if general motors has a $5,000 profit margin for every car sold. They can export 100 cars for $500,000 in profit margin. Or if they devalue their currency 20%, they might sell roughly 20% more units. Devaluing fiat currency looks better on paper for the corporate sector who sells more units. But also carries a negative effect of decreasing the purchasing power of consumers who reside in the country.

1702  Economy / Gambling discussion / Re: 📉 💸 Chances to get a losing streak 💀 😱 on: August 02, 2021, 04:55:00 PM
To pursue projections related to potential for future long streaks.

An algorithm structured around bayesian probability could be used.

https://en.wikipedia.org/wiki/Bayesian_probability

Or a branch of math like chaos theory.

https://en.wikipedia.org/wiki/Chaos_theory

There are a few different frameworks which could used as a foundation for answering this question.

However, I don't know if gambling odds could be reliably used as base statistics for probability of one side or the other winning. Gambling odds never reflect true probability IMO.
1703  Economy / Economics / Re: Bitcoin investment on: August 02, 2021, 04:31:29 PM
I wouldn't expect a significant bitcoin price hike until past the next rewards halving in 2024.

Approximately every 4 years bitcoin sees a massive bull market trailing its reward halving event. Followed by a bust cycle. This has been the basic trend thus far. Its not something that is necessarily etched in stone but it has been the blueprint thus far.

The sad truth is, some NFT markets have gained significantly more percentage points in value than bitcoin have. There are a few NFT markets where I've seen between 200% and 400% average increase in price across the board over the last 3 months or so. There is still a lot of money being made in crypto. But I don't think anyone expects a big rise in coins, unless something serious happens relating to inflation or fiat markets.
1704  Economy / Economics / Re: New regulatory law to allow funds in Germany to hold up to 20% in crypto on: August 02, 2021, 02:38:34 PM
I hope democrats and Joe Biden are reading this news. Recognizing the SEC must legalize cryptocurrency based ETFs and mutual funds the way germany is doing. To give americans access to the same financial opportunities and investments that germans enjoy.

It is a strange thing when america the "land of the free, and home of the brave" is more restrictive towards crypto than europe, asia, australia and the rest of the civilized world.

Even 3rd world countries have better regulation of crypto than most of the USA currently does. Then again 3rd world countries have better access to affordable healthcare. And so perhaps there is some semblance of consistency present.
1705  Economy / Economics / Re: Trying to find a news aggregator on: August 02, 2021, 02:26:28 PM
https://news.ycombinator.com/

I would recommend the above.

Crypto is affected by other markets, precious metals, global finance and world events. Even seemingly unrelated areas like quantum computing have had a strong affect on crypto price trends. In cases where achievement of "quantum supremacy" was pushed as "new developments" threatening the encryption based security of cryptocurrencies. Having a full picture of everything happening with crypto requires a broader perspective.

...

If you're really determined to aggregate crypto only news, websites like bitcoin magazine have RSS feeds listed in their source:

https://bitcoinmagazine.com/.rss/full/

You can plug the RSS link into an RSS feed aggregator to customize which crypto based website content is listed.
1706  Economy / Economics / Re: Are we really heading towards hyperinflation or towards deflation? on: July 30, 2021, 11:55:05 PM
Japan has been massively printing money for several years but have they seen inflation? No.

In Japan, They’re Still Worried About Deflation, Not Inflation



Yen value would show inflation on FOREX exchanges if japanese mints printed the yen at higher rates in contrast to international currencies. The reason that hasn't happened is due to practically every nation on earth printing fiat in increasing volumes.



Inflation may be most visible in the elevated cost of consumer goods. A 2 liter bottle of dr pepper costed around $1 close to 10 years ago. Today the same bottle costs $2.

Banks announced they would try to contain inflation by keeping expansion of the monetary supply locked inside of hedge funds and investment bank trading loops. Which could prevent some of it from spilling over into markets.
1707  Bitcoin / Bitcoin Discussion / Re: Sen. Elizabeth Warren wants more regulation, doesn't think bitcoin is a hedge on: July 29, 2021, 10:32:15 PM
Here we have an interesting development. Democrats like Elizabeth Warren in the US are pushing for more restrictive cryptocurrency regulation.

While republicans in florida, texas and around the world are embracing cryptocurrencies, and passing laws to recognize them as legal tender.

Would state sovereignty allow florida, texas and other US states to escape SEC regulation on cryptocurrencies should the two conflict.

If democrat states mandate bans on bitcoin and cryptocurrencies, could it trigger an even larger mass exodus from bitcoin unfriendly blue states, to bitcoin friendly red states.
1708  Economy / Economics / Re: Stablecoins 101 on: July 29, 2021, 10:19:34 PM
what's the difference between buying bitcoin with USD vs. USDT, i.e., what's the advantage?



One advantage is not having to go through bank middlemen to buy crypto. Who might limit the selection of cryptocurrencies available for purchasing. And the unit volume they can be purchased in. As well as their salesman unit which could try to steer investors into buying a coin other than what they had originally intended.

Bttzed03 might have nailed another advantage above. Bitcoin ATMs can charge 20% above current market costs. Stablecoins could allow a person to avoid those price mark ups to some degree. The stablecoin business model could be more volume based than single point of sale based. Similar to walmart when their business model was all the rage, pre amazon era. Stablecoin profit margins could be smaller but can more than make up for it with higher volume, over the long term.

1709  Economy / Gambling discussion / Re: Gambling Exposed to children on: July 29, 2021, 10:03:10 PM
Done responsibly, gambling could represent a good introduction to money management for children. Due to its similarity to investing and trading.

Managing risk is not only a valuable skill for gambling. It can also apply to other areas of life. I suspect many do not consider money management practices until they get older. Learning from a young age and being exposed to atmospheres like gambling does carry a potential to learn critical thinking and begin setting positive life habits.

Many youth are already exposed to video game loot boxes. But loot boxes are more a scam than they are real gambling IMO. Losing is coded into the loot box algorithm. Gambling could be a step up from that. At least then they might have a clean shot at winning.
1710  Economy / Gambling discussion / Re: Cryptocurrencies price and their effect on gambling industry on: July 29, 2021, 09:56:48 PM
I seem to remember the gambling minimum on anonibet being 1 bitcoin around 2011/2012 for sports gambling. Later the gambling minimum was adjusted to 0.01 BTC. Then 0.001. Finally the industry average rests around 0.0001 today for sports betting. Throughout that time, I think the crypto gambling industry targeted a minimum bet of around $5. Which is more or less what established casinos in vegas offer for minimum wagers.

The thing that stands out the most to me, is bitcoin's rapid ascension into the stratosphere. Marked by its exponentially declining minimum bet sum.

Bitcoin appreciating in value value wiped out some of my gambling losses. It also stacked a massive cherry on top of my winnings.

Gambling with bitcoin during its run from $5 to $50k should go down in history as one of the all time golden eras.
1711  Economy / Economics / Re: Can blockchain replace the traditional banking system? on: July 28, 2021, 07:30:54 PM
I think bitcoin definitely changed the way people think about money. Its such a radical departure from conventional finance and banking norms. I'm surprised conspiracy theorists haven't put forward a theory of Satoshi Nakamoto being an alien from another planet. Cryptocurrencies have succeeded in ways, in building a better mousetrap. One observation that can be made about blockchain is, Satoshi Nakamoto was only a single person with limited resources and time. A team of talented individuals with funding, should in theory, be able to expand and improve on Satoshi's original venture. It is possible that had Satoshi continued to develop cryptocurrencies, he would have further expanded and improved upon its list of features and design principles.

Would prefer to focus on some attempt at future progress in finance/remittances, rather than focus on blockchain vs banks. There is still a lot of room for improvement to be made. Even banks are benefiting from and using blockchain based technology. Rather than blockchain replacing banks, they can simply adopt the technology and use it.
1712  Economy / Economics / Re: Stablecoins 101 on: July 28, 2021, 07:04:54 PM
After all the latest rumors surrounding tether and bitfinex




Quote
Bitcoin's 2017 Rise Was Market Manipulation By Tether: Study

Bitcoin’s phenomenal price rise late in 2017 has been attributed to a lot of things: investor enthusiasm, media spotlight, and Asian exchanges. A new paper by an academic famous for spotting fraud claims that the cryptocurrency’s valuation was pumped up through the use of Tether, a coin that trades on parity with the US dollar at three exchanges: Bitfinex, Bittrex and Poloniex. It is issued by Bitfinex, which claims to have dollar reserves in a bank account that are equivalent to the coin’s trading activity. This helps maintain a stable exchange price with the US dollar.

https://www.investopedia.com/news/bitcoins-2017-rise-was-market-manipulation-tether-study/


The media published many accusations surrounding bitfinex/tether since 2017. These rumors are definitely nothing new.

As stated in OP. Banks and stablecoins are the two main paths whales use to purchase bitcoin and cryptocurrencies. A rise in tether purchasing is correlated with increasing bitcoin demand and buying volume. It seems many journalists write about tether and stablecoins without comprehending the basic roles and principles defining how they're used. It leads to uncertainty and many false allegations being made towards bitfinex/tether. Both of whom are very misunderstood.

1713  Economy / Economics / Re: Amazon's surface phenomenon on: July 28, 2021, 06:47:12 PM
If amazon follows the pattern of apple post Steve Jobs era. The trend of most corporations post founder era. They aren't likely to do anything ambitious or progressive. They'll be more likely to follow a business model of consolidation, rather than expansion. I doubt we'll see anything innovative or new from amazon. Industry and powers that be do not approve of loose cannons like Elon Musk and Jeff Bezos altering the private landscape. Amazon will become like ford, general motors and chrysler. Doing the same boring things, they've always done. Refusing to advance the industry, unless a new player like tesla comes to town and forces them to compete for survival.

It is possible alibaba (china) is the closest retail competitor amazon (usa) has at the moment. Whatever conflict is currently brewing between china and the united states could boil over to an alibaba versus amazon conflict. Some might scoff at this idea, but alibaba carries product niches and items which amazon has discontinued, for some strange reason. Amazon used to sell more motorcycles and prefabricated housing units. Two areas where amazon appears to be losing ground, while alibaba is catching up.

1714  Bitcoin / Bitcoin Discussion / Re: The Banking senate hearing (at one point hinting at going after code commiters) on: July 28, 2021, 06:26:21 PM
At one point the lady Ms. Walsh hints that governments should go after code committers.


I can't prove it. But suspect they've put pressure on Elon Musk to lie about bitcoin's carbon footprint.

Programmers in the cryptography sector (encryption) have been targeted by governments of the world for many years. The idea of legislators putting pressure on private citizens, in order to push dubious political agendas may sound outlandish and unrealistic to some. In reality, it could be a completely normalized process. A standard procedure which could have been in place for many years.

Mark Zuckenberg may have had pressure put on him for continuuing to push libracoin despite considerable resistance to it from regulators. Jeff Bezos may have stepped down as amazon CEO after having pressure put on him for many years.

Crypto miners may have been pressured to do strange things that have been documented. Such as filling 1 megabyte bitcoin blocks to 30% or less of full capacity. In order to push the strange agenda behind bigger blocks.
1715  Economy / Economics / Re: Which area will develop after the epidemic? on: July 28, 2021, 05:55:51 PM
IMO whichever nation harbors the next silicon valley and is the founding place of the next google, amazon, tesla, microsoft is the region likely to develop the quickest post pandemic.

Science and engineering fields are on a decline. The majority of the world's leaders in business oppose development of new innovations and technology. Elon Musk is known for popularizing EVs. The sad truth is EVs could have become mainstream much sooner had automakers and big oil not conspired to repress nickel metal hydride battery technology. AFAIK there are many technologies and inventions being similarly repressed. US states like california routinely fail to construct high speed rail projects on budget. Partially due to a global decline of science and engineering fields.

I would guess whoever makes a legitimate effort to embrace innovation and advance industry could come out ahead. But there definitely are formidable obstructions standing in the way of that type of progress.

1716  Economy / Economics / Re: New Jersey Pension Invested $7M in Bitcoin Mining on: July 26, 2021, 04:21:12 PM
Other government pension funds, especially in California, have been considering investing in shares of bitcoin mining companies in recent months.


Quote
California's Assembly Votes To Allow Communists To Hold State Jobs

May 9, 2017

California may end a decades-old ban on members of the Communist Party working in its government, after the state Assembly approved a bill that would delete references to the party from its employment requirements.

The bill's sponsor, Assemblyman Rob Bonta, D-Oakland, said that California's laws should focus on individuals' actions and evidence rather than political affiliations and what he termed "empty labels."

Speaking on the floor of the Assembly, Bonta called the legislation a "cleanup bill that removes archaic and outdated references to the Communist Party in our state laws, specifically those stating that a public employee may be dismissed from employment if he or she advocates or is knowingly a member of the Communist Party."

https://www.npr.org/sections/thetwo-way/2017/05/09/527586682/california-assembly-votes-to-allow-communists-to-hold-state-jobs


....


I hope california stays out of bitcoin. I would expect them to pick up, where china left off if they became involved with cryptocurrencies. The US state of california should be blacklisted for crypto mining and crypto ventures. As there is a good probability of them banning exchanges and miners eventually the way china did.

Given california's known issues with rolling electrical blackouts. Rationed electricity. Unreliable spotty internet connectivity. Massive brush fires blazing out of control. Extremely high taxes, rent and cost of living. Unfriendly regulation towards local business owners and emphasis on imposing hard COVID lockdowns on business. With roughly 2/3 residents wanting to migrate out of california to other states. I doubt they will be able to attract much attention from miners given their negative business environment and bad reputation.

Thankfully, many other states might be good for cryptocurrency adoption. And are likely to provide good terms and conditions where crypto sectors might have opportunities to grow.

1717  Economy / Economics / Re: USA algorithm to deal with world on: July 26, 2021, 04:07:01 PM
The united states is the richest and most powerful country in the world.

Which provides a powerful motive for lobbying and influencing its leadership and intelligence agencies. Many actions credited to the USA were conducted on behalf of foreign special interests bearing gifts. As is common with american politicians who promise to "tax the rich" having net worths greater than $100 million. People hold america accountable. But in reality, its strings are being pulled by foreigners subverting the power structure for their own campaigns.

A rift is forming between the majority of americans and special interests who have seduced many with power in leadership positions. A silent struggle which has been brewing for many decades. If you ever wondered why many strange events occur in the USA, which are uncommon in the rest of the world. Its due to the secret war being waged for control of the country.

1718  Other / Politics & Society / Re: Another new phase of Convid-19 due to unvaccinated people on: July 26, 2021, 03:45:10 PM
If the delta variant of COVID-19 emerged 1 month ago. How long does it take to develop a vaccine to counteract it.

The media desires obedience and trust from the public. But isn't willing to offer full disclosure on many key facets of the pandemic debate. It seems we've reached an impasse. Many no longer appear to trust the media or state authority figure verdicts on the pandemic. The media repeats the same message. In the hope of it being complied with through repetition. With neither side making progress as far as I can tell. Whether one side or the other can make adjustments to break the impasse in their favor remains to be seen.

This conflict highlights the need for better scientific exposition on topics like vaccines, to better enable the public to make informed decisions. As well as perhaps higher standards from experts and the media if they wish to earn back the public trust.
1719  Economy / Gambling discussion / Re: Motivated by "breaking the code" on: July 26, 2021, 03:34:27 PM
There are computer programmers who bought used slot machines. Reverse engineered the hardware and software. And used the data collected to cheat with slot machines in vegas. Maybe back in the 1980s, before casinos knew gaming slot machines was possible.

It might be a little late for "breaking the code" today. Casinos are aware of it being possible and security is on the watch for cheats. Some machines are coded so that a big winner can only occur on a certain date of the year, at a certain time, if the lever is pulled on a specific second. That's the type of accuracy it takes win big on slots. The odds and probability of a big win are so astronomically slim. That time and energy would usually be better spent elsewhere imo.
1720  Other / Archival / Re: El Salvadorans are not happy about accepting bitcoin as a means of payment on: July 23, 2021, 11:45:02 PM
Do you remember the cell phone protests? All the drama about those towers giving you cancer and killing you in a year? The fear people have for everything new?

Some forms of ionising radiation emitted by airport scanners and cell phones are considered higher risk due to them penetrating the skin layer. Its basic science and medicine.

Al Gore said climate change would destroy the world in 10 years, in 2006. Is climate change fake due to it not happening? If you're going to make these arguments you need to be more specific and accurate on things.


And you expect people in one of the poorest countries in the world, out of which probably 95% never ever installed a wallet to simply accept it and cheer for it?

If you look at a map of el salvador, cuba and venezuela.

Those 3 nations aren't that far from each other. 2/3 of those countries are large supporters of crypto. It isn't beyond the realm of possibility that el salvadorans know something of bitcoin that is positive.
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