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1081  Economy / Economics / Re: Stock market, bubbles, US economy, distribution of wealth...Americans=no savings on: April 15, 2020, 12:33:59 AM
The money you see going to the stocks is not average Joe's money. As you said average people have no savings. That money belongs to the whales and they are trying to scam you like pretending that the bear market is over and the worst is happened, which I think is not true.

There are only a few big guys trying to scam each other and you (small guys) that's what stocks is about now.

I see airlines companiy stocks going up while there are no planes in the sky. How can that be possible? It is because it is a scam that's how.

... No one is trying to scam you, no one wants you to sit around and day trade with the market. Why would some billionaire even care if you toss your 10k in and lose it being dumb with some penny stocks.

The Stock market isn't a scam for anyone. If you're willing to invest and stay in for over 10-15 years, you're going to average somewhere in the realm of 7-10 percent per year (ON AVERAGE) It's been one of the most reliable investments that anyone can involve themselves in. Just invest in a low cost index fund, keep investing, and let the power of compound interest takeover. That's it.
1082  Economy / Services / Re: [FULL] ChipMixer Signature Campaign | Sr Member+ | Up to 0.0375 BTC/w on: April 15, 2020, 12:26:09 AM
Username: squatz1
Post Count: 3868
BTC Address (must be SegWit):bc1qes5hwgyc85xll85lk7jym7vl4r26xtlty5zl82

Thought I'd try my luck here. Curious on if P&S/Economics/Trading Discussion posters are needed yet, I know DS and I spoke of this sometime ago. Stay safe folks!
1083  Economy / Economics / Re: USD will lose its status of being reserve currency? I am scared. on: April 15, 2020, 12:16:16 AM
Have you got a stake in the dollar?

The other world reserve currencies are still doing pretty well after no longer being considered a world reserve currency. It may even flip between euro and dollar or another currency (yen or yuan)... I don't think it's delisting of being a world reserve currency would mean much.

I don't know how inflation is tracked there but both here and the US its targeted to hit 1.7% and that number is determined here by both the central bank and the office of national statistics in different ways.

+1 to that.

I also think we're in a bit of a different time now. The US has its superpower status because of its econonomic and military control of the world. If the US doesn't like a certain country, they'd go ahead and tell their banks to not interact with them. Do you think that's going to work well for the country? No. The US is the financial capital of the world, and can cut off a country from money and cripple them from the inside -- this is one of the reasons that sanctions work to cripple a nation.

Then the military power of the US isn't in invading your country. It's in protection. The US has bases in most countries around the world and is able to either protect these countries from something OR employ locals. Which is pretty big leverage in an area which is economically depressed.

USD isn't going to lose reserve status, and even if it does it doesn't mean anything.
1084  Economy / Economics / Re: The US Stimulus - How do you feel about it ? Too little to late? on: April 15, 2020, 12:10:33 AM
If small businesses applies to the programs that have been setup to get money into their hands, they're going to be able to be OKAY for a little while. There's two big programs right now:

1. Economic Disaster Loan - Provides a loan with terms of up to 30 years, guaranteed by the US gov, with an advance of up to 10k (1k per employee) which was just recently paid out people who applied first.

2. Paycheck Protection Loan - SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.  (https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp)

So yeah, they have setup some pretty good programs to keep big and small businesses going and employing people through this time. You just have to have all your paperwork in order and to apply.
1085  Economy / Economics / Re: Nobel Laureate asked India to print more money and not to worry about inflation on: April 14, 2020, 08:19:10 PM
Can we just point out one thing here:

Quote
“Forget about the macro worries. We can avoid a 1929-like situation. Go long on printing money,” said the Nobel prize-winning economist who is the Ford Foundation International Professor of Economics at Massachusetts Institute of Technology.

This guy not only known in India for being an economist, he works at MIT and has been recognized by the world. Sigh. I'm assuming that India thinks that they can do this b/c no one is spending money now, which means that inflation will probably stay in the realm of 2-3 percent even with more QE (money printing) then usual.
1086  Economy / Economics / Re: US potential Recession and its effect on Cryptocurrency on: April 14, 2020, 12:16:18 AM
I think there are two mine ideologies with crypto:
1. It gets treated like cash
2. It gets treated like gold

If it's treated like gold we'll probably see quite a fall when the recession hits
If it's treated like cash, cash is seen as a bit of a guarenteed investment so bitcoin will be in good steadings...

Why would the market ever treat BTC like cash? We can already rule that out based on the 64% crash last month. In a liquidity crisis and recession, people obviously dump BTC for cash.

It's not treated like gold either. Gold only fell 15% and is now trading higher than it was in February and March. BTC dropped 64% and is still down 35% from its February highs.

The market obviously believes BTC is much, much riskier than either cash or gold. It is its own asset class, a very risky and experimental one.

Ah, this is one of the first times that I've found someone that talks similar to me.

You're without a doubt right. In the event of a crisis where people are losing their jobs, retirement funds are crashing in value (not too bad with the markets recent rally, but still), tenants (residential and commercial) stop paying, and so on -- PEOPLE ARE GOING TO SELL OUT OF THEIR SPECULATIVE INVESTMENTS FOR SHORT TERM CASH.

Maybe a few years ago this wouldn't be the case, but bitcoin is more speculative now.
1087  Other / Politics & Society / Re: Trump has tested negative for Coronavirus Whew!!! on: April 13, 2020, 11:50:31 PM
Ever since I had learnt that Trump had come in contact with people who had later on tested positive for the virus, I was very worried thinking what would happen if he took the test and tested positive for it. However the good news is that he took the test, and he has tested negative for it which is really good as he can now completely focus on eliminating this virus. Also despite the warnings he was seen shaking hands, and if you’re reading this then please stop shaking hands immediately, further it’s worth mentioning that he has finally realised the dangers of handshakes and hopefully he won’t do any more handshakes till this virus goes away.

Sources:

https://www.bbc.com/news/world-us-canada-51893445

https://edition.cnn.com/videos/politics/2020/03/14/trump-handshakes-coronavirus-press-briefing-vpx.cnn

https://www.telegraph.co.uk/news/2020/03/14/trump-defends-habit-shaking-hands-coronavirus-pandemic/

Why are you so worried about his health?
Even if he is going to be tested positive he is going to get the best treatment not only in the US but probably all over the world. And despite that, he has a whole team on the background that they are working for eliminating the virus.

I mean -- they're worried for his health because he's the President of the United States and is in the age group where this virus is the most lethal. I think his chance of death if he got Corona would be in the realm of 5-8 percent. You're right regarding the standard of care the President would get, but I don't think it really matters -- maybe it would get him another percent because his doctors are probably watching around the clock for this -- but this is still VERY lethal for someone his age regardless of standard of care.

Wouldn't be good for a country that is already freaking out over a global health crisis to have their President die.
1088  Other / Politics & Society / Re: 2020 Democrats on: April 13, 2020, 11:35:29 PM
With what is happening now in the world, not just in the US, Democrats or liberals or Republicans... it doesn't matter. The main thing is that they are healthy

What's happening in the world today can be partially blamed on the deceptive nature of Totalitarian Communism.  The reluctance of the Chinese Communist Party to admit it's faults, their continued obfuscation of the severity of the plague, and their blatant lies about it's origin aren't helping humanity.  

So every time you listen to Nancy Pelosi, Chuck Schumer, and Adam Schiff, ask yourself what have they done to prevent this outlaw rogue regime from gaining power?  What's that you say?  Nothing?  Oh, it's quite the contrary, you say?  

They've done nothing but help the Chinese Communists steal our intellectual property, our manufacturing jobs, our pharmaceutical production.  They've enabled the Chinese to undercut American businesses who would provide technical and security support.  They've allowed the Chinese to undermine network security protocols for business, and many used by our military.

So, the difference between liberals and conservatives does matter.

I was going to say, I don't think it's fair to put the fault on one party or another for letting the Chinese regime grow stronger and stronger. No one did anything to stop the growth of China.

The first Bush didn't (Republican), Clinton didn't (Democrat, but more moderate), the second bush didn't (Republican), and Obama didn't (Democrat), Trump is trying, but with this coronavirus that's going to come to a standstill. To go a bit further, we've had Republican and Democrat controlling both chambers at different times as well. Have you seen them pass laws stopping China from stealing IP, violating trade laws, and so on and so forth? No, everyone ignored it and kicked the can.
1089  Other / Politics & Society / Re: China has won this corona economics sanction battle! on: April 13, 2020, 11:32:00 PM
China is recovering? They've lost many of their main markets to sell goods to, and are having to resort to massive stimulus packages (just like the US) to keep their companies afloat. This is WHILE China already has mostly state run industries that rely on China only allowing them to operate in China to survive.

China is hurting, America is hurting, Europe is hurting. Everyone is hurting right now.
1090  Other / Politics & Society / Re: [SERIOUS] What do people think of direct cash payments (US stimulus package)? on: April 13, 2020, 11:24:27 PM
It's the 12th. Many reports have said that the payments could start by the 16th - when taxes are normally due, or thereabouts? We don't have long to wait for reports to start coming in one way or the other.

Has there been an official update on the date that I have missed?

Cool

IRS has a website that you can use to track the progress of the coronavirus payments. See here - https://www.irs.gov/coronavirus/economic-impact-payments

I know they stated somewhere that people who were on social security and filed their 2019 taxes already, are going to be first in line to getting their stimulus check payments. Just wanted to update people here.s
1091  Other / Politics & Society / Re: Media causing panic-buying and costing lives on: April 13, 2020, 11:14:48 PM
"Price Gouging During Disasters Is Actually a Good Thing"

https://fee.org/articles/price-gouging-during-disasters-is-actually-a-good-thing

I've actually read this sort of thing. Though it isn't going to be popular with everyday Americans and voters because they don't see the upside of something like this. All they think about is themselves paying more for products that they truly need -- like food, water, etc in the event of an emergency. They forget that certain goods -- like generators -- aren't going to get to them if they're not willing to pay more then the regular price. Entrepreneurs are going to get you these products if you need them and are willing to pay for their services, they're not going to do it for nothing.

Not sure how exactly you do this while also ensuring that people get necessity items -- food, water, etc.
1092  Economy / Collectibles / Re: Collectible Cards of Bitcointalk Users. on: April 13, 2020, 08:08:41 PM
Update:  I was asked how much I lost via PM.  Address given here publicly.  Not a single bit sent. 



This is a reasonable proposal. Let me estimate the time needed.

This does not sound like any other Bas reply from the early parts of this thread. 

Don't count on these ever coming to fruition or the person in charge of this account doing the right thing.  If you get strung along believing you'll eventually get your item.... you deserve what you get.  This user is not trustworthy, PERIOD!

Just to expand a bit on this, I want to make sure that people know that if they're being strung along and they're asked for more funds -- DO NOT SEND ANY MORE FUNDS. If you get asked for more funds, it's just an attempt to scam more.

Expect that you've lost all the money that you've sent. If you get it back or if you get the collectible cards then great. If not then move on. Tough luck folks.
1093  Economy / Collectibles / Re: Collectible Cards of Bitcointalk Users. on: April 11, 2020, 09:46:17 PM
After sadly looking through this and then noticing the person bolted with the funds, kinda hope that the mods lock this up.

Wish I could get one though Sad

Edit: Never mind on that, read a bit too quick. Hopefully this guy can show that he's not a scammer.
1094  Other / Politics & Society / Re: Trump has tested negative for Coronavirus Whew!!! on: April 10, 2020, 08:50:16 AM
How sure are you that he is negative. Do you honestly believe what the media says about him. He is the president of a very powerful state and can do a lot of things like controlling what the media says about him. It is not like the media followed him to where he took the test, he could have just got a private test and is undergoing treatment secretly. He might also actually be negative and wanted the word to be known so that USA does not panick. Well I do not know everthing but what matters is that Trump is fighting the coronavirus.Let us all hope that it will die down soon because it is really affecting people worldwide.

Gravedigging much?

testing negative does not mean immune. it means not had it YET

secondly. with the nonsense he says that then needs to be corrected by his team and by experts later
if he did take a few sick days off.. i feel there could be some more factual daily press conferences occuring.

but big emphasis.. testing negative means NOT YET
Trump doesn't have it. He shows no symptoms at all, and has tested negative for the coronavirus in a test that was conducted weeks ago. For a guy that has to guy on TV all the time and is 70 something years old, do you really think he'd be able to hide an illness that has such a high mortality rate for people in his age group?

Answer: No. If he had it we would know. With the amount of leaks in the administration it'd be pretty easy to notice / find out.
1095  Economy / Economics / Re: The US Congress, and later the Senate, approved a $2 Trillion stimulus bill. on: April 09, 2020, 06:21:03 AM
Quote
Why the Idea of a Digital Dollar is Bullish for Bitcoin
The mentioning of a digital dollar and provision of digital wallets by banks, ignited some excitement amongst crypto enthusiasts who found this move very bullish for Bitcoin (BTC) as shall be explained.
Secondly, the implementation of a digital dollar would open the doors for other countries who will not want to be left behind in digitizing their national currencies beyond internal CBDC (Central Bank Digital Currencies). With the global smartphone penetration estimated at 42% of the global population, roughly 3.2 Billion individuals will potentially have access to Bitcoin as a result.

The idea of Digital Dollar might be bullish for Bitcoin and cryptocurrencies in general,but what if the US government decided to ban Bitcoin and all cryptocurrencies,in order to boost the usage of the "digital dollar"?

Quote
Tokenization of Commodities

To begin with, such a move would familiarize every American citizen with the concept of a digital wallet on their smartphone, desktop or web browser. It is a known fact that the whole concept of digital assets is complex for the average individual and this is the reason many do not venture into crypto. Therefore, having an incentive from the government of redeeming $1,200 via a digital wallet will surely help in familiarizing more potential investors with Bitcoin and Cryptocurrencies.
Tokenization of Commodities

Almost every American citizen uses online banking or has a Paypal account.Those can be considered  "digital wallets".Don't underestimate the tech savvy Americans. Grin
I hate the term "tokenization".It makes me think about some altcoins(mostly "token" shitcoins) and ICOs(mostly scams).If there is further "tokenization" of the economy,it has to be heavily regulated by the government,in order to protect the people from scams,but the benefits of such "tokenization" seem vague to me.

Good thing none of this is happening. The Senate verison of the bill was passed, not the House version (which they knew wasn't going to pass, the Dems just put it out for some political points)

Thought this would be the best place to say this -- US Congress is currently thinking about another $500B in stimulus package money. Unsure on the politics of the whole thing and who wants what - https://www.cnbc.com/2020/04/08/coronavirus-updates-pelosi-and-schumer-call-for-congress-relief-bill.html

1096  Other / Politics & Society / Re: Coronavirus Outbreak on: April 09, 2020, 06:01:21 AM
The outbreak is still not declining.
I think that we are going to face serious problems as we are going to May. The weather is getting better and people will start going out of home now and the virus will not be in decline soon.

Everyone who's paying attention knows that the numbers are fraudulent by now.

Anyone that is telling you they know exactly how the virus works, how it can be prevented or treated, and exactly what decision would result in the best outcome is a fraud. 



+1 to this. All we have at the moment are predictions and expectations about how things are going to turn out, we LITERALLY have no idea what's going to happen until it happens.

Come on folks the weatherman on Channel 5 can't even get the weather right and we've been doing that for a long time now. You think they're going to know all the answers to a Pandemic that they've never seen before?

Be a bit smarter guys.
1097  Other / Politics & Society / Re: BREAKING - Bernie Sanders has DROPPED OUT on: April 09, 2020, 04:25:45 AM
Yup, this is literally Bernies last shot at being able to be the President -- there's no way that he'd be able to try for this 4 years from now, so this was his final go at the presidency. Bernie Bros aren't going to be happy, and I don't think they're going to be too enthusiastic to rally around Biden -- then again though, no one is really too excited to go vote for Joe.

538 breaks down some of the polls regarding this point about enthusiasm - https://fivethirtyeight.com/features/so-about-that-supposed-lack-of-enthusiasm-for-biden/

I can't find the infographic but a while ago, I think it might've been 538, they published an article about second choice voting and Andrew Yang had the highest rate of voters should would not elect to support the democratic nominee if their candidate didn't win, which makes sense. Yang was the candidate, and Tulsi, that could pull voters from both aisles together and cause voters to cross party lines. Bernie, on the other hand, had the second highest number of supporters that would not support the democratic nominee if he were not to win the the nomination. This should be terrifying for the DNC.

Yeah I mean, Yang and Tulsi were not democratic establishment people anyway (nor is Bernie, but what he supports aligns with a LOT of Democratic voters, even if they don't like him) Yang had a very radical idea (at the time) which was extending UBI to all Americans. He knew he wasn't going to win, but he made a name for himself and people liked that it was a bold new idea and that he wasn't establishment. Tulsi -- well, she just stayed in the race for a bit, she didn't really do much.

Wouldn't be surprised if most of their voters second choice would be not voting, moderate candidate, or republicans (at least in down the ballot races, Pres who knows)
1098  Other / Politics & Society / Re: What is the sense in forcing planes to fly without passengers on: April 09, 2020, 04:06:23 AM
Two regulatory reasons:

1. Holding the slot between the two terminals so no one else is able to have it. I'm assuming they've signed agreements with the terminals in question that they're going to fly X amounts of flights per X amount of time or they're going to lose the route. They're probably just making a bit of a profit with these routes and they're happy keeping it on. Plus they keep a presence in certain airports which is free advertising if done right.

2. Government forcing certain routes to stay open for some reason, or providing some sort of tax credit to companies to keep it open. I'm assuming this is done to ensure that rural areas are services properly. Or at least to have some sort of rural hub.

I didn't think there are too many flights in the air now though. Seems like airlines are cancelling a good deal of service. They may be told to keep paying people if they want federal money / stimulus money though.
1099  Other / Politics & Society / Re: BREAKING - Bernie Sanders has DROPPED OUT on: April 09, 2020, 03:21:06 AM
Well, it's not surprising but still has a bit of a shock feel to it because many thought he would ride it until the convention. Bernie supporters seem extremely upset with this being Sanders's last run at a Presidential bid so I'm not sure if they're going to fall immediately in line to support Joe Biden. Some will, but a lot won't. Trump already took advantage of this by tweeting an invitation for democrats to join the Republican aisle which is hilariously Trump-like. Meanwhile, Joe Biden continues to have gaffe after gaffe so it's clear that upset Bernie voters either won't show up at the polls or will vote for Trump as retaliation against the DNC.

Biden was on a debate stage and couldn't even commit running for a second term so I have no clue how he's going to hold up in a general against Trump who isn't going to hold back. Keeping him in the race is elderly abuse at this point.

Yup, this is literally Bernies last shot at being able to be the President -- there's no way that he'd be able to try for this 4 years from now, so this was his final go at the presidency. Bernie Bros aren't going to be happy, and I don't think they're going to be too enthusiastic to rally around Biden -- then again though, no one is really too excited to go vote for Joe.

538 breaks down some of the polls regarding this point about enthusiasm - https://fivethirtyeight.com/features/so-about-that-supposed-lack-of-enthusiasm-for-biden/
1100  Other / Politics & Society / Re: BREAKING - Bernie Sanders has DROPPED OUT on: April 08, 2020, 08:00:48 PM
It's so sad! But I think he has done it to prevent people from voting in the primaries coming out in Corona crisis as he thought it was kind of impossible to defeat Biden now. He's one of the people I respect for his loyalty towards his policies and decades of dreams of becoming the president. Truly sad! He might un-suspend but that's unlikely.... Joe Biden can consider him as vice president as a Biden-Bernie or a Bernie-Biden ticket would be deadly for Trump! https://www.nytimes.com/2020/04/04/us/politics/biden-sanders-vice-president-running-mate.html , I hope Bernie accepts if he's offered the ticket :/

I don't think that Bernie is going to be offered a spot on the ticket, Biden did say sometime ago that he'd be picking a woman to be his Vice President -- so unless Bernie changes his gender he's not going to get it, lol. But I'm not sure Bernie has much leverage right now, maybe he told Biden that he wants him to give him a cabinet spot of some sort or he would run indy?Huh?

Maybe he asked for Biden to change some policy positions? Who knows. As I said before, Bernie really has no leverage now.
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