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141
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Economy / Speculation / Re: Will Bitcoin Spot ETF's Manipulate Bitcoin's price?
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on: February 21, 2024, 02:13:01 AM
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I don't know if Bitcoin ETF is going to manipulate the market price of Bitcoin, but the asset management companies that run the Bitcoin ETF can surely manipulate the market. Because the kind of money that these corporates are sitting on, it is very easy for them to manipulate it.
Gold is somewhat different in this comparison of price. It has a global market and it is very difficult for a single corporate to manipulate it. Also it doesn't have a limited supply, at least not a known limited supply. So I think gold should not be compared here in this case.
The major problem here is with the decentralization. The more and more corporates own it, the decentralization is gone. Manipulation is definitely possible but you really cannot say whether manipulation is really on going or not.
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142
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Economy / Economics / Re: China are back to mining Bitcoin.
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on: February 20, 2024, 06:48:49 PM
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In the foundation of Bitcoin when listed china was also mentioned but when I read deeper I was surprised to see that Bitcoin was banned in china. The china government banned Bitcoin since 2021 now coming to see how the crypto currency (Bitcoin) has become powerful in the world of crypto now as many people mostly youths of some countries now see it as an investment very interesting and how it has helped many, the citizens of china sometimes I ask myself if they would be pleased to see one of their achievement helping others and not them. Gagon said he didn't see this ban as something concerning Bitcoin at all rather he sees it as politics, currently this ban I think has been lifted and Gagon sees this as an infrastructural development to the economy of china. Now when you say economy it is something that has to do with the government of a country as well. my question?. Is the china government now encouraging it's people to mining of cryptocurrency (Bitcoin)?. Will this Bitcoin add to their economy development because I see something like 10% of all miner revenue. It says it is important giving the coming Bitcoin halving event. What will this miners revenue contribute to the economy?. https://cryptoslate.com/bitcoin-minings-silent-comeback-in-china-according-to-industry-insider/I don't think China has lifted the ban. If they really did, it would have become a breaking news in all cryptocurrency related news websites. I don't see any such things. It could be very possible that some people from China have started mining at a smaller scale in disguise of something else, so that they do not get caught. China lifts the ban on cryptocurrency mining, it will be a huge event for Bitcoin. I don't think it has happened. But again it take time for any used to come out from China so you never know. |
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143
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Bitcoin / Legal / Re: UK regulator issued 450 alerts for illegal crypto ads in 2023
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on: February 20, 2024, 06:15:33 PM
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Well that's the job of a regulator. At first, why there is a need of regulator? The definition says are regulator would be an agency to look after the security of the user and to enforce legal actions for non compliance. There is no denying to this fact that Google ads are indeed filled with scammers. Also with the advancements of the AI technology, it has become even more easier to impersonate unknown personality to promote anything. Every now and then I see the implementation of deep fake videos in Google ads. So I think what this independent regulator has done, Makes sense! At the end of the day, we all want the scammers to go out of crypto market.
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144
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Bitcoin / Bitcoin Discussion / Re: "Warning: Cryptocurrency Theft Involving Kaspersky Password Manager - My Story"
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on: February 19, 2024, 05:30:47 PM
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Sorry to hear about your loss. But when you are using a password manager, it essentially means you are entrusting your secrets to a third party. Pretty much how you entrust banks with your money. Banks do take responsibility but such third party tools do not take responsibility.
Paper wallet is the safest wallet if you are living in your own house and no random persons are coming inside. But the moment you are using a third party tool to safeguard your password, your safety is already compromised. I am sorry that you had to learn it in a hard way.
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145
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Alternate cryptocurrencies / Altcoin Discussion / Re: Is it good or bad idea saving every penny on crypto stable coins
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on: February 19, 2024, 04:21:23 PM
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It is a bad idea. I wouldn't do that. Saving money in stable coins would give you no return. But if you keep your money in banks, the banks will give you at least some interest back. If you really want to save money in cryptocurrency, I would suggest you to save it using Bitcoin or ETH. These currencies have the potential to go up and give your decent return. If you do not get any return on your settings, it doesn't make sense.
Also USDT is a centralised cryptocurrency. So I wouldn't recommend saving money on that.
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146
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Bitcoin / Legal / Re: American banks require permission from the SEC to store cryptocurrency
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on: February 19, 2024, 02:51:15 PM
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Everyone wants a share in the pie. Why the regulatory agencies and enforcement agencies in US is bringing in so many rules to make it very complex for the common people?? They want to make it more centralised and they want banks to control the cryptocurrency. Custodian service is nothing bad if someone is holding a huge amount of Bitcoins. People may want security in their holding to protect it from the thieves. But when banks want to become a custodian or do business using Bitcoin, that clearly shows the potential of this crypto market. But unfortunately the regulators want to destroy the decentralized nature of Bitcoin. Let's see how it pans out.
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147
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Economy / Economics / Re: Fed doesn't have rescue plan neither other central banks
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on: February 18, 2024, 03:27:15 PM
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If the fed or another central bank have rescue plan than we would see this all ready.
Becouse when fed moves it's visible but nothing If so than 2024-2025 year will be the year of biggest loss.
A lot people become poor and a lot banks will lose customers money companies will foreclose and a lot clients funds will disapere,insurance companies not going to have enough funds either.
Your only wealth are the crypto in your wallet the gold in your home or Silver and cash in your pocket anything else can just disapere and nobody to blame on this.
Finances not teached in School If it would given the current situation people would panic everywhere.
No rescue plan this time we are going to correction and delevering all the assets.
Those who are ready Will know those who are not will wake up morning and will find out over night their years of hard work wealth is gone all.
Or, FED will print trillions of dollars without letting anyone know and might come back with a bail out package for the banks. In any way the value of US dollar is going to be decreased. It is great to see that a lot of countries are slowly decreasing their dependencies on US dollar for international trades. Not sure about the cryptocurrency, but in such situations, precious metals like gold shine at its best. Don't go all in with crypto. Buy precious metals to keep the value of your wealth intact. |
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148
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Economy / Games and rounds / Re: A Bet on COPA - versus - Craig Wright $1.1 million dollars !
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on: February 18, 2024, 03:22:35 PM
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When you do not have 50 Bitcoins. But anyway I will share my thoughts.
My option is that - Craig Wright will loose because he is a lier.
That's the ideal outcome I would want to see. However I doubt that the court will go to that route. They very welcome rule out COPA here.
This particular conspiracy is much larger than we can think.
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149
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Economy / Economics / Re: If you can't pay your mortgage or car lease can you bring keys?
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on: February 16, 2024, 04:13:55 PM
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If don't have money to pay your mortgage or car lease ?
Can you Simple bring keys to the bank ?
I mean you got to estimate your case If you know you gona fail anyways dont pay them nothing just enjoy the the money while you have it.
Do you know any one who returned keys just back?
It is far more complicated than you think! When you fail to pay your mortgage or car lease, it is not as simple as handing back your keys to the bank. It is a legal process which given banks want to avoid due to all the extra costs comes with it. Bank will sit with you first to understand your financial situation and if they are any hope of recovering that money, they will first offer you are payment plan. They will try to adjust panel interest on your loan. Taking back the property is not ideal for the bank. Because then they will have to sell it off to recover there money which again incur additional cost. I had worked in a bank long back. Even though not in the similar department but I have seen how the collections work. You cannot just walk into your bank and hand over the keys. |
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150
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Economy / Economics / Re: El Salvador's success?
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on: February 16, 2024, 06:16:48 AM
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When a government doesn't do their job of keeping the streets crime free, you call them failed government. But when they actually do what they are supposed to do, you are calling them dictator!
LMAO except US, US has a privilege, even though there are a lot homicide and they learn LGBTQ+ since kindergarten, a lot people are saying US is the best country.  I don't consider US as the best country. Every country has their fair share of issues and US is not an exception. US is really a land of opportunity with a high per capita income. That's why immigrants try to move in there and make money so that they can live a comfortable life back home. But the subject matter here is El-Salvador. This is a country where the crime rate has dropped down to an optimum low level after the current president started cleaning up the mess. That's commendable and this effort should be applauded! Nayib Bukele is giving another opportunity to his people towards a better life. Not sure why the Human rights organizations are crying foul around it! Not to mention that most of these Human Rights organizations are funded by the Western people. |
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151
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Economy / Economics / Re: El Salvador's success?
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on: February 16, 2024, 04:38:55 AM
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When a government doesn't do their job of keeping the streets crime free, you call them failed government. But when they actually do what they are supposed to do, you are calling them dictator!
The people of El-Salvador knows it better and that's why they have re-elected Nayib Bukele for another term with over 85% of votes. let's respect their choice of life. El-Salvador is a democracy and not anywhere similar to North Korea where there's no opposition party. I have got the news of this re-election just a week back, and it seems, everyone is praising Nayib Bukele for his strong stance against the criminals in the country.
I would definitely not call him a dictator, rather I will call him a leader of the people. I sometimes don't understand the role of these human rights organizations. Where were they when peoples' live were lost due to gang wars? Now someone is cleaning the mess and these organizations are coming around crying for human lives! What an irony!
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152
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Economy / Gambling discussion / Re: Why in some religion gambling is forbidden?
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on: February 14, 2024, 05:19:35 PM
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When we talk about religion we cannot dine the forbidden things like alcohol, prostitution and many other things in this topic we will discuss why do gambling is forbidden (Haram, interdit) .
So can you tell me why is it forbidden in your religion?
And for the non religious persons what you think ?
Gambling is forbidden in almost all religions. But I am not sure why! In my religion, gambling is seen as a sin. We have an epic called "Mahabharat" where the King's heirs had to loose the throne due to the gambling of the king. So it is generally seen in a negative light. I believe every religion has something similar to this incident. Personally for me, addiction is bad. But mild gambling shouldn't be a problem. |
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153
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Local / India / Re: Suggestion! Access Banned International Exchanges with VPNs that Accepts Crypto.
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on: February 14, 2024, 04:26:11 PM
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It is quite unfortunate that Indian government had decided to ban couple of international crypto exchanges. I do agree with you that many traders will not still use the Indian exchanges but rather look for alternatives.
I understand your good intention. But please also understand why I have written this. Your list should not encourage people to take different routes to evade the government ban. Things are very different at South block and you can anytime expect a full blown attack on Indian crypto community. Indian government is slowly tightening the rope.
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154
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Bitcoin / Bitcoin Discussion / Re: Craig Wight is not Satoshi Nakamoto, said the real Satoshi Nakamoto in a tweet
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on: February 14, 2024, 05:24:20 AM
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It looks like a FUD account to me. If real Satoshi Nakamoto really wants to prove his genuineness, he should come to this forum and re-activate his account. Even I can create a twitter account in the name of Satoshi Nakamoto as it wouldn't cost me anything. That surely doesn't mean that it is real. Also, Satoshi Nakamoto wouldn't do speculation about his own creation. This absolutely doesn't look real to me. There are ways to provide his legitimacy in front of the world. I would believe if he takes one of those legitimate paths to prove his legitimacy. Till then, everything is fraud. |
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155
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Bitcoin / Bitcoin Discussion / Re: BTC to Bitcoin ETFs - The ownership are shifting to centralized ownership
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on: February 14, 2024, 05:18:07 AM
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I do agree with you OP. I was never in favor of ETF at the first place. The amount of money these corporates control, it's very easy for them to position themselves as a dominant player of the market and can control the market as per their wish. Most importantly, the decentralized nature of Bitcoin will be gone with all these centralized invasions.
We are just seeing the beginning of this shift and we really don't know what the future holds. ETF has been approved by the US only. Think what will happen if every major economies start introducing Bitcoin ETF.
If we look at the situation that was even surrounding the approval of this ETF bitcoin one could actually see manipulation cards been anticipated. My first thought was why did the government that has actually rejected it before simply turned its ears to it, maybe they seemed to see that it is the only chance to have this big institutions trying to get into bitcoin at one place and then probably kill off not just privacy of the investors but also to try and manipulate the market. Although I still stand that the manipulation wouldn’t be easy as they would hardly control one-third of the coins, but one thing that will definitely help them is the spread of FOMO, it happened when Garyscale started selling there coins off, many follow suit and it affected the market. Personally I am not bothered because this kind of panic are definitely for short term holders, as the market change will affect them. Just one country has approved Bitcoin ETF. Now imagine, if all other major and progressive economies of the world starts introducing Bitcoin ETF. Can you think what would happen? These big corporate will stay buying Bitcoins like crazy. They will definitely have the power to control a majority stake of this asset class. Another thing you have rightly pointed out, the FOMO and false information. They can spend on advertisements to spread false information about the Bitcoin at their whim. Bitcoin should really stayed as a common man's currency system. They shouldn't have gone to the corporates at the first place. Tough time awaits for us! |
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156
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Local / India / Re: Suggestion! Access Banned International Exchanges with VPNs that Accepts Crypto.
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on: February 13, 2024, 05:47:58 PM
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I will honestly suggest my fellow Indian forum members not to indulge in illegal activities. It won't be long before the law enforcement agencies find that out and start the legal proceedings against you. So I would suggest to stick to the Indian exchanges and pay taxes honestly. This is my way of doing things though. It may not appeal to a lot of other people.
But don't make the mistake to think that Indian law enforcement agencies are not smart enough.
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157
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Bitcoin / Bitcoin Discussion / Re: BTC to Bitcoin ETFs - The ownership are shifting to centralized ownership
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on: February 13, 2024, 05:42:00 PM
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I do agree with you OP. I was never in favor of ETF at the first place. The amount of money these corporates control, it's very easy for them to position themselves as a dominant player of the market and can control the market as per their wish. Most importantly, the decentralized nature of Bitcoin will be gone with all these centralized invasions.
We are just seeing the beginning of this shift and we really don't know what the future holds. ETF has been approved by the US only. Think what will happen if every major economies start introducing Bitcoin ETF.
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158
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Bitcoin / Legal / Re: US DoJ dismantled WarZone RAT Infrastructure
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on: February 13, 2024, 04:25:38 PM
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It is great to see that criminals are being caught by the law enforcement agencies. The problem here is with the education. Similar to finance, cyber awareness should be a part of High school or college curriculum. Otherwise it's very difficult to uproot such issues. Criminals will be there but with right education and awareness, common people can stay safe.
Also do not forget about the older generation. It is very important for them to know about sach cyber related issues and how to stay safe. Issuing a circular by a government department is not going to solve this issue. It's great that these criminals are caught.
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159
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Alternate cryptocurrencies / Altcoin Discussion / Re: Don’t you think BRC20 tokens need more spotlight?
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on: February 12, 2024, 07:07:35 PM
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Bitcoin price has gone up to 47k and there are lots of altcoins which are seeing price increases too. But there is one thing that seems to be left behind, which are the BRC20 tokens.
I see BRC20 as a try to see whether the Bitcoin network is compatible with token standards, and it’s also that for the first time there existed an apparatus where one could create and transfer digital assets on top of Bitcoin network.
BRC20 tokens should deserve more attention and recognition in the future. Since they provide a new way of creating and transferring value on the Bitcoin blockchain, thus opening up new possibilities for the web3 ecosystem given that it has its roots in this coin originated from bitcoin design. so don't you think this deserves more attention?
BRC20 tokens need a blanket ban. This madness needs to stop. Bitcoin developers are actively discussing to remove these BRC20 tokens from the network completely. There are multiple blockchains available for NFT. We need the bitcoin network clean to increase the confirmation speed and to reduce the transaction fees. Till the time BRC20 tokens are here, this is not possible. Honestly Bitcoin network doesn't need the madness of NFTs. These so not need any more attention honestly. These NFT markers can use ETH or MATIC. |
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160
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Bitcoin / Bitcoin Discussion / Re: Bitcoin Spot ETFs hit $10 Billion milestone just one month after approval
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on: February 12, 2024, 06:57:09 PM
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It is quite unfortunate that such a huge amount of investment did not come to the Bitcoin market directly, rather it had been directed through the centralised entities. If this pace continuous, these corporates can easily out perform the retail investment segment. Probably that will mark and end to the decentralised nature of Bitcoin.
I was never much comfortable about this week corporates buying into Bitcoin. With their money power they can become the dominant players in the market and can manipulate the market as per their wish.
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