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May 14, 2024, 04:18:12 AM *
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161  Economy / Gambling discussion / Re: who Want To Bet On 2024 USA elections? on: March 12, 2024, 07:41:53 AM
I think that this topic is moving to a political discussion, rather than discussing the odds of Biden or Trump to win.
A more interesting question is will Robert Kennedy Jr. gather enough votes as an independent candidate to change the outcome of the election. If he steals enough votes from Trump, Biden might have a small chance to win. Trump hasn't chosen a candidate for vice president.
Maybe choosing a popular politician as a future vice president will lead to a better result at the elections for Trump. I'm still not sure who is going to be the next US president. Trump is the obvious choice, but all the Trump haters might join forces to stop him.
162  Bitcoin / Bitcoin Discussion / Re: Day i have lost my 100 bitcoins on: March 12, 2024, 06:59:22 AM
OP, I don't understand the point of your forum thread. Do you want to just complain? It's all gone. What's the point of complaining? We've heard many horror stories about BTC being lost forever or stolen. Your story doesn't add anything new. I'm sorry for your loss, but we can't do anything to bring back those 100 BTC. You didn't mention when did you lose the USB key. I thought that you've lost 100 BTC today, based on your thread title.
Can you provide any valid evidence that you really had a USB with 100 Bitcoins? Any noob can make a forum post about having lost 100 or 1000 BTC years ago. Some noobs even make such posts to get merit, which is kinda pathetic.
163  Economy / Economics / Re: Nigeria is set to join BRICS in May 2024. on: March 11, 2024, 11:36:35 AM
BRICS organisation X account made a tweet on Friday which reads 'Nigeria will apply to join BRICS in 2024'. Nigeria has been going through a lot of economic challenges which have caused double-digit inflation and the depreciation of the country's currency the Naira. One of the problems of the country is its over-reliance on the dollar for imports. The dollarisation of the Nigerian economy has put pressure on the Naira causing it to lose much value.

Joining BRICS might not be the only solution to the economic recovery of the country but it will contribute to its economic recovery. This is because if Nigeria eventually becomes a member of BRICS, the West African country would be trading its major exporting product which is oil in Naira and also paying for exports with its local currency, thereby reducing reliance on the dollar.

Why do you think that the dollarization of Nigerian economy is the main problem? There are many economies around the world, that are "dollarized", but they are doing pretty well. Joining BRICS isn't some kind of economical and financial panacea. What's stopping Nigeria to sell oil for naira without joining BRCIS? Maybe China and India will accept buying oil for naira, but I doubt that the western countries would agree to naira payments for the Nigerian export. The main way to fight inflation in Nigeria is imposing a more restrictive monetary policy by the Nigerian central bank and the Nigerian government finally trying to put government spending under control.
164  Economy / Gambling discussion / Re: Online Gambling : Next Generation Challenges on: March 11, 2024, 07:19:35 AM
So what's their idea? Creating a social network based around gambling? That would be weird. Grin
Maybe a gambling based social network will kill the concept of online casinos and it will be more suitable for decentralized gambling.
Most crypto casinos have a chat. Isn't this enough for the gamblers to socialize? What do they mean by having more "engaged and targeted" gambling? All the people, who have specific interests can gamble in their own platform? For example, the people interested in anime will have their casino, while the people interested in video games will gamble on another online platform. This seems like a interesting idea, but I don't believe that the current online casinos are going to implement it.
165  Bitcoin / Bitcoin Discussion / Re: Is the newly minted USDT, a driving force to surge of BTC ? on: March 11, 2024, 06:52:05 AM
The month of march has been a bearish period for Bitcoin since it's history and a lot of whales predicted it's price to go below 60k and probably rise again after March in the anticipated halving towards April.  However we saw a different case this year and instead of BTC going down it has attained a high of 65k today which is close to the price of the All Time High in the last Halving by Nov 2021 which was about 69k if I'm not mistaken.

 Also, Tether recently released about a billion dollar USDT and afterwards we saw the price of BTC surge above its previous price of 62k to 63 and currently 65k plus. This has made lots of crypto enthusiasts wonder if the billion dollar release by Tether is the driving force behind the resurgence of Bitcoin, what do you think about this?

 Well in own my speculation I think Bitcoin could attain a height above the previous ATH of 69k to 70 or 75k and above, before April. Also, if the previous ATH was about 69k there's a possibility that it could double that figure, maybe close to 150k. What's your say on this.

1.March was a bullish month, not bearish. You should read more and learn the meaning of "bulls" and "bears".
2.One billion USDT isn't enough to pump the Bitcoin price. Why would a stablecoin be helpful for pumping the price of a volatile coin like BTC?
Stablecoins are being used to hedge the risk of price drops. The traders sell volatile coins for stablecoins, not the opposite.
The Bitcoin ETFs approval and the hype around the upcoming Bitcoin halving are the driving force behind the bull market. I don't believe that Bitcoin could hit a price above 100K in 2024. The selling pressure at 70K would be too big and we might witness a price correction.
166  Economy / Speculation / Re: Good news= up in price while bad news = down in price. on: March 10, 2024, 12:13:03 PM
The market price is driven by supply and demand, not by news. I agree that some news have short term impact over the demand, but that doesn't change anything in the long term. Nowadays, the optimism around Bitcoin is thru the roof. We've all been there. People back in 2017 were predicting 500K or 1M Bitcoin price. People back in 2021 were predicting a 250K price. The BTC price crashed back then and the bear markets back in 2018 and 2022 were a thing. I'm sure that there will be another big price crash, but I'm not sure when and at what price.
The best time for a price crash is when there's too much optimism on the markets. This is the best time to sell, because many traders think that the price will keep going up, so they will buy without hesitation.
167  Economy / Economics / Re: When luxury becomes a necessity. on: March 10, 2024, 11:26:24 AM
Quote
I've purchased a Mac laptop that's way expensive than the average laptops I could easily get but because I needed what will work well for the kind of job I do, I had to buy it and I must say that the fulfillment out ways the negative thought of not to purchasing it.

So you think that a Mac laptop is luxurious? Are you kidding me?
A truly luxurious laptop is an Alienware gaming laptop. Some of these gaming laptops cost several thousand dollars a piece.
I think that a decent second hand laptop could do the same amount of work as a super expensive high quality laptop, but that's just me.
Some people get motivated by buying some high quality expensive stuff, so this makes them want to earn more money in order to buy more "luxurious stuff". Maybe that's the motivation you are writing about. I just don't have such motivation. I view this mindset as the culmination of the consumerist imperative(the desire to possess more and more goods and resources). You can call it "greed" if you want.
168  Economy / Gambling discussion / Re: It’s unlikely that anyone besides you will be happy with your winnings. on: March 10, 2024, 07:49:59 AM
Happiness lasts for a really short time frame. Why do we have to care about other people's opinions? I never tell other people about my gambling winnings, because they will think "He's a gambler, he wins today, but he might lose everything tomorrow" so people start looking at you in a different way. The best decision is to keep your gambling activity a secret from your social circle.
I don't think that even I am happy with my gambling winnings. Maybe it's because my gambling winnings are small most of the time, and I also have the feeling that I won't be happy for more than 10 seconds even if I win 100K dollars. Happiness(or the dopamine boost in your brain) lasts for several seconds(or maybe minutes).
169  Bitcoin / Bitcoin Discussion / Re: Bitcoin Bank - Safely store your bitcoin on: March 10, 2024, 07:19:21 AM
My idea would be to create a bank to safely store people's bitcoin and other crypto for people who just want to hold for a lot of time.
They would register with the passport or ID, it would cost 100 GBP + 1% to deposit and verify people's identities.
Then, to withdraw, it would take 3 months, they would have to show the passport and have a meeting via zoom once a month during 3 months stating they would want to withdraw, it would cost 300 USD plus 1% of the value.
It would compensate for people who want to hold for a lot of time without having security concerns.

So basically the people will give their Bitcoins to you and they will have to trust you for keeping their BTC safe? Grin
What's the guarantee that you won't scam them and run away with the Bitcoins?
Do you really understand the principle "not your keys, not your coins"? Do you really understand why most Bitcoiners are keeping their coins in a cold wallet, instead of trusting a centralized entity? Good luck with your "business model"? Who the hell is going to trust a newly established "Bitcoin keeping" centralized service, that requires KYC and the users have to pay for using that service?
A withdrawal taking 3 months? Why so long? Why not make it one year or five years. Grin
170  Economy / Gambling / Re: [NEW][UNLIMITED MONEY GENERATOR][XINF][UNLIMITED MONEY][PVP][NO LIMITS] on: March 08, 2024, 07:41:50 AM
This screams "SCAM" right from the start. Grin Or maybe this is a joke made by OP. "Unlimited money generator"? I remember that some people were promoting "Paypal money generators" 10 years ago. You install this "software", click a button and money appear in your Paypal account out of nowhere. Pretty dumb scam, but many people were falling for it.
A "player vs. player" gambling platform where EVERYONE wins. Who is going to lose? How are you going to make enough money to payout all profits, since all gamblers are going to win and nobody is going to lose(in the long term)? Do you plan to make this gambling platform into a ponzi scheme, where the money coming from new gamblers are used to pay the profits of the old gamblers?
Good luck with this "project". Grin
171  Bitcoin / Bitcoin Discussion / Re: Massive withdrawal of Bitcoin on: March 08, 2024, 07:07:13 AM
Anytime the price of Bitcoin skyrockets, there would be massive selling of Bitcoin and this practice(s) have always lead to the price of Bitcoin falling back afterwards. During the approval of spot Bitcoin ETFs, it was observed that the massive selling of Bitcoin when the price got to $48,000 made the price to fall to $38,000, it was after the corrections that the price began to soar higher again till now that it has set a new ATH of about $69,210 and immediately, massive selling and withdrawal of Bitcoin was also noticed.

Wouldn't this continues practice of withdrawing and selling off whenever the price skyrockets going to slow the volatility of Bitcoin to continue skyrocketing? Since the price automatically starts experiencing a dip after every massive withdrawal.

You can't stop the traders from selling BTC at the price they want to sell. There's buying pressure on the market(we can call it a FOMO phase) but there's also selling pressure on the opposite side, because the temptation to sell at the current price is big.
I don't think that you really understand the term "volatility". The price corrections and price crashes are also part of price volatility, not just the price pumps. Why do you bother with withdrawals from the centralized exchanges. Bitcoin is supposed to be held in cold wallets so less coins in centralized exchanges is actually a good thing.
172  Economy / Gambling discussion / Re: UEFA Champions League 2023/24 Season on: March 07, 2024, 11:46:43 AM
It seems that no team in Europe is able to compete against the big and rich teams like Manchester City, PSG, Real Madrid and Bayern Munich.
PSG is still pretty dependent on the goals score by Mbappe. Real Madrid didn't impress me, but they are probably saving their best performances for the next stages of thee elimination phase. Bayern Munich showed that they have big potential against Lazio and that something is stopping them to show their best performance(I don't if it's Tuchel or something else). Man City could easily beat a strong team like Copenhagen with a bunch of their substitute players. The inequality between the super rich clubs and the other clubs is just too big. Maybe the idea of a Super League isn't that bad after all.
173  Economy / Gambling / Re: Can gambling sites provide proof of auditing that was done on their RTP? on: March 07, 2024, 07:28:59 AM
Quote
To prove the RTP of a gambling game, regulators often require developers and operators to undergo testing and certification by independent auditing firms. These firms analyze the game's software and mechanics to ensure that the stated RTP is accurate and fair. Additionally, regulatory bodies may require operators to periodically report on the actual performance of their games to verify that they are meeting the stated RTP. This helps ensure transparency and fairness in the gambling industry.

Can anyone tell me which ones are the auditing firms, that perform testing and certification of online crypto casinos?
I don't know anything about such firms. The crypto casinos(or the gambling game providers) are working with the "probably fair" concept, which means that every gambler is supposed to verify that the dice/crash/online slot game is actually fair and it provides perfectly random results. I'm not an expert in this field and I can't provide a competent opinion. I never truly believed that the "probably fair" gambling games are 100% fair and transparent.

174  Bitcoin / Bitcoin Discussion / Re: Are you worried about the US Government moving BTC? on: March 07, 2024, 06:47:37 AM
The US government has the right to sell all confiscated BTC, which was seized from criminals. Why would anyone be worried about this?
This might create a short term price drop, but the serious crypto traders shouldn't be worried about this. Of course the crypto newbs will panic and start panic selling again, but this is yet another opportunity to get BTC at a lower price. "Weak hands" always lose on the market.
I'm sure that the US government wouldn't sell all the BTC at once. This would lead to a lower BTC price, so the overall revenue from the sales will be lower.
175  Alternate cryptocurrencies / Altcoin Discussion / Re: Is it good or bad idea saving every penny on crypto stable coins on: March 06, 2024, 11:11:22 AM
Sometimes I begin to imagine instead of transferring my money into the bank to keep for a number of days or months before usage in form of savings that nothing will add up instead it remains stagnant or the bank charges me even more. Is it not better I save them on a stable coin such as the USDT?

Please what do you think? Will I end up losing my funds one day if I do so?
To me I feel it's good way to save.

Please what's your opinion on this?

I don't see any big difference between saving money in stablecoins and saving money in a bank account. Maybe the only difference is that the money in your bank account have a deposit insurance, so when the bank goes bankrupt the government will pay you back a part of the deposit. You have no such insurance, if the stablecoin implodes and becomes worthless. Nobody knows whether or not Tether has 100% reserves to back up all USDT in existence. The main role of stablecoins is to be used by the crypto traders for convenience. You basically use a stablecoin to hedge the risk of having increased price volatility on the crypto markets.
176  Economy / Gambling discussion / Re: Do you experience this sometimes? on: March 06, 2024, 07:26:35 AM
Why don't you trust your intuition? I just don't have such feelings about sports betting. When I make a bet on sports events, I just don't come up with big expectations and I'm pretty much OK, if the outcome isn't what I expected. Why do you still include the match in your bet, if you have a gut feeling that it won't be successful? I know that your intuition won't be right all the time, but sometimes you have to listen to that inner voice. If I have a feeling that a certain match is too unpredictable, I just don't bet on it.
177  Bitcoin / Bitcoin Discussion / Re: Does any meme coin has the ability to challenge bitcoin dominance ? on: March 06, 2024, 06:56:34 AM
In last one week, coins like pepe rose by 400% or more. There were other meme coins like dogecoin and shiba inu also growing fast. Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit. At such, do you think that any meme coin has the capacity to challenge bitcoin dominance ?

It's easier for a memecoin with 100 million USD market cap to reach 10 billion USD market cap and increase it's price 100x.
Bitcoin has a big market cap and it's impossible increase it's price 10x. The only value of a memecoin/altcoin/shitcoin is the ability to pump & dump and make absurd price growths. Does that mean that memecoins could challenge Bitcoin's dominance? Absolutely not. Bitcoin will always remain the king of crypto, centralized shitcoins/memecoins just come and go, while Bitcoin will stay. Can you imagine a memecoin dominating the entire crypto industry? That would be a total nonsense.
178  Economy / Speculation / Re: Bitcoin all time high, is it ETF effects or pre halving cycle on: March 05, 2024, 11:11:32 AM
Today bitcoin started the week reaching at $65,000 a near former all time high price, and this new stabilized bitcoin 65k price indices make alot of presumptions and many bitcoin price speculators are in bullish mode to state an obviously possible reality that bitcoin may break the former all time high price (ATH) of $69,000+ previous record before the bitcoin halving cycle to occure.

Although if bitcoin make a new all time high before the next bitcoin halving, it makes it the second time in bitcoin history and chart 📉📈 where bitcoin attain all time high prior few days to the next halving.

The question now is, are we going to see that happening very soon and what is you expected benchmark before the next halving cycle.

The Bitcoin market has been crazy in the last 4 months. Back in October 2023, the price was around 27K USD and now the price is 66,8K USD
I can't imagine Bitcoin being so close to a new ATH before the halving. I was expecting a new ATH several months after the 2024 halving. I guess that the ETFs approvals and the pre-halving hype are both contributing for the creation of the current FOMO phase. Bear in mind that such big price pumps are usually followed by big price corrections. I'm expecting a price crash several weeks before the halving. So far, 2024 has been extremely bullish for Bitcoin, but the bears on the market might have the opportunity to enjoy a big price crash.
179  Economy / Gambling discussion / Re: Decentralized vs Centralized Gambling....Which do you prefer? on: March 05, 2024, 06:56:26 AM
Thanks to the inception of smart contracts, we can now enjoy decentralized gambling in a provably fair way. I've used a few gambling dApps in the past, and the experience was great. Except now that dApps charge high gas fees (on ETH) due to increased network congestion. But with L2 scaling solutions and alternative chains, this should no longer be a problem.

Do you think decentralized gambling dApps will eventually replace their centralized counterparts? If not, why? Which do you prefer? Centralized or decentralized gambling? Your input would be greatly appreciated. Thanks. Smiley

It's like asking someone "What fruits do you prefer? Apples or Bananas?" or "What kind of girls do you prefer? Brunettes or blondes?" Grin
Why not both? I think that decentralized gambling is the future, mostly because the gamblers won't have to deal with KYC and all the sneaky casino tricks, that block them from withdrawing their profits(somebody might even call it "scams"). Centralized gambling is still way more convenient than decentralized gambling, but I'm sure that this will change soon. Several years ago, some people were thinking that ETH will beat BTC because of the low transaction fees and low confirmation time. I wonder what do they think about the Ethereum blockchain right now.
180  Bitcoin / Bitcoin Discussion / Re: Just a friendly Bitcoin friend reminder - High price = more scams on: March 05, 2024, 06:07:09 AM
The Bitcoin price are reaching a new All-time-high again and we all know scammers are trying their best to get their hands on your coins.

I have seen a significant increase in Phishing emails, trying to get me to click on stupid links.

I never click on any links and all my coins are stored in long-term cold storage, so I know they are out of reach, but many people have hot wallets and they might be a target.

So guys... be safe out there and protect your coins. It's crazy season and the scammers are very active. 

What kind of email provider are you using? I use Gmail and I barely get any suspicious looking phishing emails. All of them end up in the Spam folder anyway. It's funny that the scammers are working harder when the Bitcoin price is high. The smarter decision for them would be accumulating more BTC when the price is low and keep HODLing until it hits a new ATH. I'm expecting another big exchange making a big exit scam, while claiming that it got hacked by some mysterious "hackers". This might lead to a BTC price correction, but we aren't in 2017 anymore and the bull run might continue. Grin
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