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2421  Economy / Economics / Re: Taiwan invasion - how would it affect bitcoin on: October 12, 2021, 04:38:51 AM
This is well structured study considering the Taiwan and its famous company TSMC. It was amazing to see how they have overcome the difficulties being inside Taiwan, territory under dispute and stressful political pressures all the time. I think the best case scenario is way simple here. If any of the country tries to invade into Taiwan then they will simply have to give proper direction to the TSMC by means of new taxation system, regulatory views and possibly the “price control” acts will be prime importance.

So the effect on bitcoin would entirely depend on one thing: Who rules Taiwan, whether they will bring down the existing companies and reform them and whether they will come under entire new law.
2422  Economy / Trading Discussion / Re: Does Binance need kyc to do any trading? on: October 10, 2021, 06:21:36 PM
On an average you a person is very good to go for 0.06 btc per day. There is no way normal person will trade more than that money so we just need to be calm down handle the situation appropriately. I mean if you feel that you gonna end up in situation where you will need to withdraw more than 0.06 btc then boom, you will have to do full KYC. I got so many notifications everyday regarding this, but I have just done the basic KYC and never looked back to binance after that. I have good amount of USDT and RVN on the binance but I never got the feeling that I should be confirming my full KYC because I don’t trade that much.  Grin
So just relax and do it only if you think you gonna need it ahead.
2423  Alternate cryptocurrencies / Altcoin Discussion / Re: This is heartbreaking on: October 10, 2021, 06:04:59 PM
Why are you on the earth focusing on these coins anyways ?
You should look into different direction if you ending up with these shit coins. Man, there are so many great projects out there who are working around the clock to become the best version of themselves! If that’s the case then you should be focusing on them, invest into them and keep increasing your portfolio. You stand a best chance to grow your portfolio if you are investing in right coin at right time. Just grab the top 10 or top 50 according to your budget and you are good to go in terms of profits.

The screenshot you sharing is joke to me. It’s funny no one has seen these coins ever in their lifetime. Lolz.
2424  Economy / Economics / Re: The EU takes 9 more jurisdictions out of the Tax Heaven list on: October 10, 2021, 10:24:28 AM
A global tax of 15% should be required to be considered for business as an equal.
[...]

Exactly, tax should all be zero when government can get unlimited money from central banks. The government's tax income is neglect-able comparing with huge amount of fiat they borrowed each year from central banks, why government still tax in 2021 is out of understanding of who understands modern monetary policy

I dont think the monetary system works in this way? If government starts to print their own money then whats the difference in that act and today's situation of US where they going nuts in printing the money. This has caused seeds of inflation these days and could worsen over the time. Taxation actually solves this issue by circulating the money back to government and then same is used for the development of states, countries, employee salaries etc. I think this keeps the balance of what is being printed and circulated. So I completely believe that tax needs to be paid and it cant be 0%.
2425  Other / Beginners & Help / Re: [GUIDE - Personal Experience] How to get started with Mining on: October 10, 2021, 06:16:38 AM
Latest Updates:

Celebrating the 265th payment now and on the verge of 300th soon!!

The mining rig which I set up in my bed room is now doubled in size and has been sat up in whole new room.
I just wish that I keep adding more and more mining rigs in the years to come.
Sharing this so that anyone who wants to mine will be inspired by this.



I gotta say it's very addicting to see the whole thing running up 24x7. It's some sort of love! Lolz.

Hope you guys find this thread helpful!

2426  Bitcoin / Electrum / Re: Bitcoin stolen on: October 10, 2021, 05:57:03 AM
[...]

Only thing you can do is found out how you got hacked and learn from that. That lesson costs you 0.5btc and it's pretty expensive lesson for not bothering learn anything so i advice you to at least take that time to find out what happened. You aren't getting your btc back by the way.

Exactly, that is gonna be most expensive lesson of all time. I mean losing the whole 0.5 btc in a blink of an eye is worst experience and one can feel how bad it must be feeling to OP right now.  Embarrassed

As pointed out by @Charles-Tim there is only accessibility to your device which could have caused the transfer of your btc. There is no way someone can hack your device remotely and if they did then they will need tremendous efforts to do. For example, though someone gets access to your phone then they could just open your apps, read your emails, send texts etc. However, almost all of the apps no a days has security check. They will still need your passcode to enter into your app. If they do somehow then they will still need your transaction passcode to authroize the transaction.

Moreover, when the phone is being used that way you should literally see the screens moving isnt it?

Going far from this, let us consider that they went into your app with pass phrase then they will need one physically or by some means. Since mnemonic phrases are not stored anywhere on your phone there is less chance it was hacked.
2427  Bitcoin / Bitcoin Discussion / Re: Is Satoshi about to show up? on: October 10, 2021, 04:46:42 AM
So there is some guy who built an entire empire around the globe with his vision to free the banking system and suddenly he appears out of now where to destroy it?
Not cool. He would not do that. He had purpose behind all these and he is richest man alive/dead on the earth with or without heritance of his property. I think there is no one who would just give that kinda money as free gift.
If he kept the secrete until now then he had his own reason. Feels like he has already bought secrete iceland somewhere safe and living his own life and drinking the pearls of nature!
I am not sure why someone like that will show up out of no where destroy that kinda beautiful life. It's money, he worked for this one, he won't let it go now. Who knows he is already funding the greatest missions of the world like mars travel, physics and scientific exploration etc. Why think in negative way about this guy anyway.
2428  Economy / Economics / Re: Fuel prices hitting an eight year high on: October 09, 2021, 02:50:06 PM
This is gonna be epic one. I mean peeps have started to opt out for the electric vehicles, go green moto everywhere and what however, sooner or later everything is interconnected. Get this: A popular example and dream of richest person Elon is to run everything on green sources. So many automobile industries followed the same and now we see electric cars everywhere.

However, we are not capable of harnessing the natural sources at that speed and soon the whole electrical grid will collapse because we will be consuming more electrical power than ever before.

There is now way to get rid of "Power Greed". Somehow cycles will be connected. You need electricity then you will need electricity plants, raw materials to run them whether hydro power or fossils. You are using the natural sources and many of them are expensive to find in natural habitat.

Today the Oil is getting costly, tomorrow same problem will follow with the electricity too! You have to have a source to produce energy. One form from another and everything is limited unless and until we get a tech developed to harness 100% sun's energy.  Wink
2429  Alternate cryptocurrencies / Altcoin Discussion / Re: Is USDT a trustable? on: October 09, 2021, 12:44:12 PM
In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

USDT seems to be real stablecoin. I am not sure there is a bad news floating around the internet, if it is then that's just out of negative marketing or paid marketing tbh who wanna bring down the best stablecoin. As far as I know USDT is just tangled up with regulatory bodies because some guy think that money laundering is being done under the USDT so it's under centralisation process? This is just not a trust issue but a complication associated with laundering, regulations etc.

More to add to this:

Well, USDT has,

Total Market Cap: $68,406,591,458
24 hours volume: $73,798,912,505

With that info, I dont think that USDT will be swiped off the crypto space immediately?

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin
You should keep in mind that USDT isn't fully backed by fiat US dollars (as far as I know). They used to say they had a dollar for every tether, but few months ago they released a report which shows that only around 3% of tether is backed by "cash". Rest includes assets and "commercial papers". So if everyone together tries to redeem their tether tokens for US dollar, they very likely won't be able to do so without trouble.
any recomendation for the stable coin?
USDC or DAI maybe? Do your own research.

I see very low possibility for this to happen. I dont think all the crypto investors would want to sell off their USDT in single, there is no reason for that.
2430  Economy / Gambling / Re: FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest on: October 09, 2021, 10:20:18 AM
Nice! I won many tickets as well, but didn't have the luck winning any prizes! So I decided to save my WoF spins, as I mentioned earlier...
Interesting strategy. This way you can concentrate all your spins in a single round to accumulate most tickets as possible increasing your winning chances at the lottery. Maybe among so many spins you can also hit some Lambo tickets and who knows, maybe an Iphone or rolex. Grin

If you don't bother, and sorry if I'm being nosy, but could you share the results from these spins once you decide to use them all at once? That would be a nice public experiment.
Yeah, this strategy looks interesting, but it will still depend on luck. I mean, a huge number of tickets in a single round does not guarantee anything, and the chance of winning the lottery will still be very small. Regarding rare prizes of the wheel of fortune, I guess iv4n might be able to win at least 5 golden tickets from these 100+ spins.

Oh man, if everyone starts to follow this strategy then everyone will have amazing chance of winning or may be huston we have competition lander!  Grin Grin
I am also following this strategy but that is for getting satoshi and RP's. Thats the only goal for me. Specifically RP, and I just wish I will have more and more in every spin.

I have gotten 4k lottery tickets 3-4 times by now however it seems that my luck is not that best to have me on the winning list.
So henceforth I am just hoping that I will keep accumulating more and more RP and Satoshi. That's anyways tradable at anytime.
2431  Economy / Economics / Re: When will the role of fiat currency disappear against crypto. on: October 09, 2021, 09:26:09 AM
Did the Gold replaced existence of Fiat ever? Though Fiat got regulated way later than gold and precious diamonds then also Fiat was the one who dominated the world since ages now. The very first quality of Fiat is its easy trade and value that it carries.

BTC is just measured in terms of Fiat for easiness of trade. You can’t just say someone I’m giving you 1000 satoshi and you give me a chocolate bar because no one would understand what’s it’s worth or whether the chocolate bar is 1000 satoshi worth (example).

So you simply measure it in USD or whatever currency your country carries. It’s factual stuff and they should coexist all the time.

Replacing entire Fiat system with crypto currencies is different topic and we already know opinion about it since long. It’s just impossible due to various crypto limitations. (Supply, regulations, the way it works etc. )
2432  Alternate cryptocurrencies / Altcoin Discussion / Re: NFT for money laundering? on: October 09, 2021, 06:13:01 AM
I have speculated that NFT will be the next part of the cryptospace where much of the money laundering and tax evasion might occur. Why is this? This is because NFT is art and much of the art world is unregulated.
[...]
This year, the treasury department is expected to complete a study on whether there is evidence of money laundering in the broader art market. [...]

Well more or less art is "tax free" most of the time and that is the main reason big peeps are always looking after to buy the arts and try to hide their investments or get tax relaxation.
The thing is, government allows this so that the Worlds best art can be preserved properly and be maintained all the time for longer life. That's the main reason historical arts gain value over the time. Otherwise why would a old rich guy go and buy it anyways. Well the last statement was just out of fun but refers to things which we call as unregulated market but out of valid reason.

Coming back to the NFT, well that's whole new era and the beginning of NFT started with trade between two accomplices who are now under radar and they called off that million dollar deal out of money laundering. So yeah, there is high chance NFT is being used for the same.
2433  Economy / Trading Discussion / Re: Why is Bitcoin a threat to China? Is China deliberately imposing sanction on BTC on: October 09, 2021, 03:59:51 AM
Every Year they come with some such bad news about Crypto Ban in China. This time they also don't forget to do that. But I don't think it will alive for long time. It's just temporary and I think this will solve or the effectivity will less day by day. Btw Bitcoin don't care the china fraud anymore. So don't worry about it.

Exactly, there is nothing new about the china. I am not sure how many china threads we have but I have said this before too. China only will get into those things which are very important to them and their nation. They just want to develop their nation (or may be few billionaires) and get rid off those things which they are unable to control. As of now they understand very well that bitcoin is no place for the China to enter even after they had the biggest operation of mining on their soil. Unfortunately it had negative effect on them and they had to take it down due to blackouts. The later also seems to be conspiracy to me so that no one can laugh on them. Lolz. Moreover if they impose it or not does not matter, BTC is still healthy and with the current bull I see BTC already shown it's power.  Cheesy
2434  Alternate cryptocurrencies / Altcoin Discussion / Re: How to store 1 Million $ to Stable coin on: October 08, 2021, 06:29:24 PM
If I had that kind of money in crypto I would stake it. Like cardano stacking is good option. 5% yearly is good money when you have 1mil.

Not that good idea to stake a million dollar in crypto staking. They can simply put that kinda money in bank, get 5-6% on Fixed Deposit and on top of that they can avail tax benefits for doing so depending on the country in which they live. Idk, staking a million and that too in single coin for a year is huge risk man. Crypto does benefit you but let’s understand that there are huge huge risks involved when money at stake is bigger. I mean the exchanger where they are staking, the coin which they are staking May or may not be there after year. What if exchanger gets hacked? What if the project they are staking in is no longer doing good? There are some risks involved and that should be assessed before staking.
2435  Alternate cryptocurrencies / Altcoin Discussion / Re: When ETH GAS Price will stable? We paid 33.74$ GAS price for 10$ token transfer. on: October 08, 2021, 05:20:37 PM
I am wondering why ETH is still so popular and gaining value every time and every quarter tbh. With that statement I also like to point out that ETH is widely used over different gambling sites and commercial transaction due to the fact that it’s unlimited and supply is huge.

I see so many threads regarding its fees and still ETH is always on top of everything. Not sure if we discussed this earlier but I see that ETH has got some good shots at everyone.

They said ETH 2.0 will be new era and here we are still fighting for the lower fees.
2436  Bitcoin / Bitcoin Discussion / Re: Do you want to see Bitcoin legal in your country? on: October 08, 2021, 08:22:12 AM
My country is still preparing the yearly financial bill and meanwhile we do not know what is the status of bitcoin in country. Whether it is legal or illegal no one understands clearly, however, everyone is still finding it way too easy to trade on daily basis. The financial news channels also keeps including bitcoin and ether in their data analysis on everyday basis. I don't see any restrictions on the bitcoin amid the unfinished bills about it. I think it will never matter due to bitcoin and it's public ledger nature. We still use it, we trade it, we convert it to the local currencies and are able to withdraw the money all the time. To add more to this, there are pretty good number of exchangers which are operational and has the best banking partners to support them. So not sure legality does matter in this regard or not?
2437  Economy / Economics / Re: Are banks needed for crypto? on: October 07, 2021, 07:06:50 PM
The first thing you should pay attention to is the level of crypto price volatility. Not that stablecoins can be used to provide real-world loans, but whether a country can provide space to include crypto which until now is still in category 2, namely the investment group.
If we refer to the future, maybe it's not the time for us to say precisely. it is possible when the two institutions of decentralization and centralization can be combined in one financial system. Is that possible?

I think crypto loans are here since many years and there seems no issues with anyone: the lender and the borrower. Even the bitcointalk forum has it's own section for the same. Though volatility is a great issue in the crypto world then also the interest rates are decided as per the deal which sought at first and peeps keep paying accordingly. There are also projects for this purpose where escrows are set and loans are given away. Not sure where does the OP is stuck in terms of loan situation.
Banks are not needed at all. All you need is good escrow who can handle the both parties which I see as close to as bank itself. In fact involvement of third part add up more security too if it's valid source.
2438  Bitcoin / Bitcoin Discussion / Re: The Great Thing is about Bitcoin on: October 07, 2021, 06:13:53 PM
It is all about how you perceive things in the crypto world. If you gonna trade the crypto to crypto then you don't really need to understand the price. Price is just measure of unit tbh. We measure it in fiat because we understand the fiat in different forms of currencies and we understand how much the stuff weighs in terms of value.

If you start thinking about BTC as BTC then you will not fear what value it has today. I mean you will start transferring the bitcoin in different units like mBTC, satoshi etc as per your need.

We never care about the USD, all you care about is how costly or cheap things are around us!


So whether they control it or do not control it is second part really.  Smiley
2439  Alternate cryptocurrencies / Altcoin Discussion / Re: Be Careful Sharing The QR Code Of Your Wallet Too on: October 06, 2021, 01:33:44 PM
It seems we are missing a point here.
The QR code which was shared by the user was associated with his private keys.

#3 Tweet specify the exact communication of NFT guy with the fake mod. They clearly mentions that it was private key which got shared by mistake. I am pretty sure there is low chance that the tech will be able to extract the private keys from the public key. This way not only MetaMask but the whole other wallets will be compromised / should have been compromised by this time as they use the same synchronisation protocol.

It's really a good share btw because everyone should have their eyes wide open before sharing their qr codes. Good insane tip is to keep both of them separate and only keep the public keys handy while sharing.  Smiley
2440  Economy / Trading Discussion / Re: Basic Types of Trading on: October 06, 2021, 12:40:51 PM
There are many many types of trading. To this you add staking, margin, grid trading, and now a days Liquid swap is also way popular if played with the right coins. Moreover, these all are not just recent players, they are way too old and peeps are doing it since before the binance.

I have seen so many staking threads on the forum all the time. Then in the beginning of 2020 liquid swap trade started popping up. It's nice to see we more options in the crypto world than share market or stocks.
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