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1301
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Economy / Economics / Re: Are crypto hedge funds still a good business?
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on: February 17, 2020, 10:32:56 PM
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Starting a hedge fund now is probably like starting one in 2016.
I wasn't aware there were such things, but I agree with you about the above. I'm not sure if we're starting another huge bull market or not, but bitcoin and altcoins are both up quite a bit compared to where the market's been the past two years. I don't know what crypto hedge funds do exactly (aside from holding/trading coins), but starting one now might be a bad idea but if someone had started one in 2018-19 they might be poised to make some decent money. Not sure how many people would have had the intestinal fortitude to do so after everything looked dead for a long time--especially the altcoin market. Oh yeah, there were a good few of them that had actually started up before crypto boomed. Only one that I know off hand is TAAS. They shut down sometime ago, though they used customer funds to manage a portfolio of crypto assets and returned profits to the owners of the their coin -- TAAS -- and they took a share of the profits for handling all the security, smart contracts (on ETH), etc. Starting one is going to be a regulatory nightmare in my mind, you're going to have to get licenses in the US (and not sure how this works, but maybe every state in the US), other countries, etc. Then you can start, you have to setup a good deal of cold storage, security on your website for deposits and withdrawals. This is going to be a very involved process. Plus you're not just going to let customers withdraw their funds without any sort of issue -- like a real hedge fund, you'd have to make them wait a few days so you can ensure you have the amount of BTC/ETH/whatever coin they request their withdrawl in. Sounds like a great idea right off the bat, but your customers are only going to want to pay you if you make them profit. Which you can't control at all. This is literally the wild west. |
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1303
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Other / Politics & Society / Re: China disinfecting banknotes to stop the spread coronavirus
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on: February 17, 2020, 10:09:24 PM
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If it makes anyone happier, he's a source on the claims relating to China literally disinfecting its bank notes to stop the spread of the coronavirus. Maybe this is a push towards digital currency, or maybe they're just trying to put on some sort of theater to make people feel safer. Who knows. https://qz.com/1803255/china-is-disinfecting-banknotes-to-stop-spread-of-coronavirus/It's cheaper and faster to burn the banknotes and print a bunch of new ones as the replacement. Disinfection is more costly and slower.
UV disinfection could be done very quickly and cheaply if they needed to with some minor modifications to existing hardware. It only takes one use to infect a note, burning them after a single use is asinine. Eh not really quickly, according to the source I put above: One method for cleaning money is to use ultraviolet light or high temperatures on it, then seal the cash away for one to two weeks before releasing it back into circulation. When possible, the Chinese bank said, it would provide brand-new banknotes to people. |
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1304
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Other / Politics & Society / Re: Now you have to worry about a new way spread of coronavirus.
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on: February 17, 2020, 10:07:24 PM
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Why not just like, burn the money that they think is infected and print the same amount more? Is it really that costly that they want to quarantine it to be tested and then put it back into circulation, seems kinda stupid to me. But I guess I'm not the leader of a major superpower and am not going to be making decisions like this ever.  It is nonsense. They could simply use chemical or UV disinfectant. Like I said, this just sounds like a good pretext for banning cash money and stripping more freedoms as usual. That's the Chinese way eh? Literally using facial recognition scanners to track where people are, reporting whereabouts to the communist party (this is done all the time too, as you have to use your ID card like literally everywhere and the employees are obligated to note down all this info) Literally just following the people at every turn, and ensuring that every single one of them listens to the government. The amount of human rights abuses that we ignore in China are disgusting, and we ignore it because it's good for business. What a disgusting thing everyone in the world does just so everyone can make a few bucks. |
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1305
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Other / Politics & Society / Re: Now you have to worry about a new way spread of coronavirus.
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on: February 17, 2020, 01:19:05 AM
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Why not just like, burn the money that they think is infected and print the same amount more? Is it really that costly that they want to quarantine it to be tested and then put it back into circulation, seems kinda stupid to me. But I guess I'm not the leader of a major superpower and am not going to be making decisions like this ever. |
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1306
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Economy / Service Announcements / Re: Double Mixer: Mix your Bitcoin with two mixers in series
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on: February 13, 2020, 02:15:19 AM
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Question though- Is there anyway to calculate the fees of the mixing before we start mixing (I haven't tried this yet, asking before I do anything) Thanks for making this, much love.
Not an already calculated value/overview, but you can just read the Letters of Guarantee before sending anything. In my just generated example case: Receiving Mix Letter Of Guarantee
[...] Our fee is 3.761% + 0.0003 for every forward address
Final Mix Letter Of Guarantee
[...] A total transaction fee of only 1 % and a fee of 0.00100000 BTC per payout address is subtracted. Then you need to manually calculate that.  Considering that the letter's format is always the same (supposedly), maybe he could scrape these percentages and make a calculator. Ah, got it. I probably should've just went to the next stage of mixing to find out, but I guess I was a tad lazy. Thanks |
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1307
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Other / Politics & Society / Re: Risks of a Nation(s) Attempting a 51% Attack
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on: February 13, 2020, 02:07:24 AM
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I anyone has the power to do this at the drop of a hat, it is China.
Drop of a bat is surely more topical for China? I really can't see a nation mounting a 51% attack. It would cost a hell of a lot of money for a start, and I don't see what they'd gain. If you want to shut down crypto within your own borders, then you can do this through legislation. It might not stop it entirely, but it would have a big enough effect to drive it so far underground that it's no longer a concern to the economy. Forcing exchanges to give out the details of their users for example, and then going after those users might be enough of a step by itself. The only reason for a nation to mount a 51% attack would be to shut crypto down entirely, globally. Whether that would be effective or not is difficult to say. Whether such an attack would be mounted however is maybe easier. I don't think there's much chance. The reason being that although crypto may cause some fear and concern for governments, it also offers the allure of huge benefits through increased efficiency, reduced costs and indeed surveillance through the immutability of the blockchain. Nations may posture and bluster about crypto being a problem, but I think the chances are everyone will adopt it in the end... and I think this conclusion is lent weight by the fact that more and more countries are now investigating the potential of digital versions of their national currencies, even the US is getting involved. I could see them maybe launching their own state run coin, and attacking the BTC network to drive liquidity into it potentially. They have already announced plans for such a system. Could happen but like, what's the benefit here to destroying the BTC chain. That destroys the confidence in the chain with the most trust in the entire bitcoin space, if you kill it the rest of the coins go with it and you're probably going to set crypto back another 20-30 years because of the lost of (actual) confidence. All the other coins are going to be dead without bitcoin. No one (except people that are forced by the chinese regime) is going to use the chinese stablecoin (based on chinese yuan) |
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1309
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Economy / Service Discussion / Re: Miners at Oregon Mines (oregonmines.com) DOWN, and I am being ghosted.
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on: February 13, 2020, 01:51:41 AM
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My story is similar to others here. Emails from Tom are slow, the rest of the crew must be fired already. Any new invoices he's asking payment in crypto now, feels fishy. Anyone free their miners from here yet? Will keep updating as story progresses. I have miners that were sent there but not started up even. There is no doubt this will take a long time, and be messy. And of course, mining profitability is up.
I did receive my S15's and T15's back from them today. So they are at least returning the gear that they are no longer hosting. And my S17's are still running at their backup facility. I have been corresponding with one the techs that I met when I visited there, so they still have some staff. They were busy getting the larger shipments (pallet sized) moved out first. Good to hear, what did they charge you for shipping them back to you? Hopefully not some insane amount of money that was outside of the regular cost so they make a few bucks for themselves. |
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1311
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Other / Politics & Society / Re: What is in mind of those, who against vaccination?
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on: February 13, 2020, 01:42:45 AM
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If a fireman was running around setting fires so he could have a secure job, how long do you think they would be allowed to operate for? Why is it the medical industry is allowed to profit directly from their own failures, which at this point seem more like fraud than incompetence? Failure in the medical industry is not a bug, it is a feature.
The fireman would be fired (and arrested) immediately. Meanwhile, the fire department would continue fighting fires. Just because firefighter arson is a thing doesn't mean that all firefighters are criminals. https://en.wikipedia.org/wiki/Firefighter_arsonYeah I don't really see the reason to punish an entire industry (and an entire fucking world when it comes to vaccines) due to the issues of certain companies within such an industry. We don't cut the funding for the police force because there are some bad apples in the police force. If that's how we went about doing things, we'd have no one employed as they'd all be fired already. There are bad apples in every single facet of life, you live to work around them and thats it. Firefighter arson though, good movie on that here - https://www.imdb.com/title/tt0101393/ |
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1312
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Other / Politics & Society / Dems have to unite behind a moderate quickly, or it will be the party of BERNIE
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on: February 13, 2020, 01:27:59 AM
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I think we've all seen the headlines in the last couple days, but I just want to vocalize it all to ya so I can see if my line of thinking is right here. Bernie is currently the front-runner for the Democrat party, he leads in the last couple polls and I think that he's going to have the momentum going into the next couple races and (in my mind) he has the most energized of supporters which is vital to winning a primary.
Currently, 538 has the following polls out
Bernies is at 36 percent to win more then half of the delegates, and has a 52 percent chance of winning the most delegates.
No one polls at 36 percent (for half the delegates) - meaning that there would be a brokered convention in this situation.
Biden is at 17 percent to win more then half, and has a 25 percent chance of winning the most delegates.
I'll cut out the last two portions for the next two.
Buttigeg - 5 percent to win more then half
Bloomberg - 4 percent to win more then half.
If Bernie and the Berniebros can keep up their steam and he keeps the momentum rolling, Bernie is going to win the nomination (I know I said this wouldn't happen Flying Hellfish, but it probably will now) and if he doesn't have the delegates to win the nomination, and they pick someoneelse the Bernie supporters are going to (and they should) march on Washington.
This is going to get very fun, very soon.
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1313
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Economy / Goods / Re: CigsSpot.com - original cigarettes for low price
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on: February 13, 2020, 01:14:43 AM
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Not interested in cigs for myself, though I am curious -- is there any difference in the nicotine percentage (or any difference) between buying your cigarettes (sources from poor eastern european countries) and buying these in the US at my local gas station?
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1314
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Economy / Service Discussion / Re: Mainstream businesses/stores which accept Lightning Network payments?
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on: February 13, 2020, 01:09:14 AM
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Bitrefill of course. There's a gaming store called Joltfun that uses it which I've bought from a couple of times. There's that Moon Chrome plugin that buys through a few place with it but I've no idea how trustworthy it is. They were doing Amazon but now seem to have lost it temporarily.
Since the average person doesn't understand or use it, including me, it's going to take a long, long time before it gets anywhere.
It's possible third party stuff like the Bakkt and Starbucks thing or some sort of Coinbase account linked payment will take precedence.
Might be grave digging a bit here (by a month and a little bit or so) But I'd have to say that JoltFun, BitRefill, some random gambling websites (LightingSpin, etc) are going to be the best that you're going to find in the LN. We have to first focus, as a community, on getting people into bitcoin usage first not into LN. It's not there yet, and we'd be doing them a disservice to push them into something that isn't ready and isn't really fully possible to use without bugs. I'd love to see Bitcoin used at my local stores, that'd be great. But lets first get them onto something that works, not something that doesn't. |
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1315
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Other / Politics & Society / Re: Jussie Smollett now ‘classified as a suspect’ for filing false police report.
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on: February 13, 2020, 12:40:47 AM
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The charges were filed right before the election for the prosecutors office. We will see if he actually has the case perused competently. He should serve time in jail but I am not holding my breath. I am also still waiting for Kim Fox to get prosecuted for public corruption, but it might be a while.
This case is going to end up exposing some powerful people... Hate to be a cynic but I'm going to be a cynic I think this is going to be a smack down for Jussie and just Jussie, no one else is going to take any damage here. Do we really think this would come out if that was the case? There's no way some random special prosecutor would be able to expose the Obamas just because they wanted to. |
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1316
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Economy / Service Discussion / Re: Help: A list of LocalBitcoin alternatives (P2P marketplaces)
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on: February 13, 2020, 12:25:59 AM
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I'd say its very important to note certain things for certain exchanges. I'll show what I mean below: Local.Bitcoin.Com - Nice site and all, but you have to know that you can only use this to buy BCH. Just from browsing through their BCH ones though, it seems to be pretty I'm going to edit these to include the others, just wanted to include this quickly. Bisq {a decentralised exchange platform network} is a peer to peer marketplace for trading bitcoin with FIAT. It's a great platform and doesn't require KYC. Yea sure liquidity is really bad(and is worse for BTC/altcoins) unfortunately, but you can also trade BTC for some altcoins on Bisq. It's seriously underrated.  I mean if in one sentence you're talking about how bad the liquidty is for BTC/USD why in gods name would someone use the platform for BTC/ALTCOIN?..... Just saying. |
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1317
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Other / Politics & Society / Re: [society] paying taxes
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on: February 11, 2020, 04:14:46 PM
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where by if someone calculates they owe say $20k
the could buy $20k of a stable coin and then send the $20k out to the 10 addresses in fractions of their own choosing to area's that mean most to them.
what thoughts would people have. also. give an example of how you would allot a $10k tax bill
and link the tx ID and a signed message of proof .. to show they paid their taxes..
firstly proces they pay it. secondly lets them 'vote' for things that mean most to them
First of all, to be able to properly spend this money, you need E.D.U.C.A.T.I.O.N.Education must be our number one priority along health. Also education includes that you have to eat to be alive, not to live to just eat. And in this last case I mean how people are addicted to junkfood everyday that causes a lot of health issues. This is serious problem especially in USA. The good subject to discuss is Medicine, why? Because what happens now is totally fatal. At first to my mind all of these viruses and etc are created manually in order to make money from it, to die some part of people and etc. Mental health <-- children on stimulants from childhood, on anxiety meds and etc <-- it kills their brain, milk and pills don't mix! Just see, a number of depression increases, at the same time I want to mention that most population lacks Magnesium (it's removed from water and etc), they lack D vitamins... Pharma become a huge business and in this case doctors don't work on fixing the problem, they are just adding band-aid on problem that fades as time goes and situation becomes 100x worse. Why do I have to pay tax if I live in a house? Government is great at collecting taxes but doesn't give a fuck someone lives in the street. World's 26 richest people own as much as poorest 50% <-- Is this fair? (You can see article on TheGuardian). Why do we need military services, soldiers? I hugely doubt you want a war with my neighbor and can say the same on me. You don't even know each other and probably you prefer to stay at home with your family and have a good day, why do we have wars? This is because of some people who get pleasure from it and launder money. Personally I like how you spent money on your list, wouldn't edit it for a while. Education is great and all, but just throwing money at a problem isn't going to fix it. Many people think -- o if we just increase the budget for certain government programs everything would get better. In theory, this may be true, but at the end of the day this money may not be spent efficient in the least. We must ensure that when we're providing money to any program, that it is spent efficient and it helps the most amount of people -- cause what good is throwing all this money at a problem if we're not doing anything productive with it. I think this is pretty evident when it comes to things like charitable organizations, who donations billions upon billions to a problem and we don't always see a benefit. Maybe the funds aren't spent appropriately, maybe enough isn't being spent on a problem, maybe the only thing that can fix a problem is a change in attitude or how we do things, not just money being thrown around. I'm all for providing the best education to the children, the hardest part is finding out what works and what doesn't. We should be spending our money on pilot programs to see what works, then try to test this on a large scale. Also -- parent involvement is a very big factor in determining if you're going to be successful in education -- obviously there are many more, but if your parent is on top of your education and involved in your love you're going to have a better chance to succeed (statistically) |
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1318
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Economy / Trading Discussion / Re: Why not use call Options in a bull market?
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on: February 11, 2020, 03:46:17 AM
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So, after creating so many threads, basically you want people to use put and call options (or derivative trading) regardless of the market condition.
I know it's a good marketing effort by creating threads regularly to spread and maintain awareness but isn't it hard for you to handle them all?
Appreciate it. The main aim is to educate people about Options trading and how it could help a fellow trader. Hopefully, I can help someone learn something new which can be implemented and make profits with. This is a pretty good and simple explanation of what can happen to you if you're using options.
I'd like to point out to everyone reading this and thinking about using some sort of options, or leverage or anything along those lines. Don't do it, unless you're fully sure what you're getting yourself into. You're most likely going to lose money (if you dont this time, there will be another time and then you'll lose money another time) at some point if you continue to borrow money that isnt yours.
I agree. generally speaking, Options trading is sort of an advance level or trading but there are platforms dedicated to making it simple. Seems like you've had a bad experience or know someone who did. That's trading in a nutshell. There's always an opportunity to make money but if things don't go as planned, You are likely to lose them as well. Eh, I think it's more the experience of many that it makes the most sense, in many facets of trading and in Bitcoin up to this point, to just have a passive view of trading. Don't try to get rich on the swings, just buy and HODL. Disregarding the fact that you're giving your coins to someone else to control (BitMex, your company, etc) you're also going to be risking what you currently have -- is it worth it? That question can only be answered by the individual based on their own risk tolerance. I appreciate the response and you are right about all of this being 'trading in a nutshell' cause that's not wrong at all. Many can be made rich from leveraged trading, and many poor, but at the end of the day the people making money are those that are providing the lending of funds. Cool platform though. Site looks nice. |
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1319
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Economy / Trading Discussion / Re: Why not use call Options in a bull market?
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on: February 11, 2020, 03:35:11 AM
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This is a pretty good and simple explanation of what can happen to you if you're using options. I'd like to point out to everyone reading this and thinking about using some sort of options, or leverage or anything along those lines. Don't do it, unless you're fully sure what you're getting yourself into. You're most likely going to lose money (if you dont this time, there will be another time and then you'll lose money another time) at some point if you continue to borrow money that isnt yours. So, after creating so many threads, basically you want people to use put and call options (or derivative trading) regardless of the market condition.
I know it's a good marketing effort by creating threads regularly to spread and maintain awareness but isn't it hard for you to handle them all?
Well yeah, that's kinda the intention of anyone that runs a site like this. They're going to make money either way, as they've built in profits for themselves regardless of the market conditions. |
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1320
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Economy / Service Discussion / Re: Accepting Crypto Payments
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on: February 11, 2020, 01:38:41 AM
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If you're not the one selling the goods and you are going to allow your users to sell/buy products, BTCPayServer may not be the best solution here. My advice would be to run your own node (bitcoind), assign addresses for your users and store them in a database. Bitcoind will notify you whenever a transaction happens, so if a user makes a deposit, all you need to do is update the database with the user's new balance. If the user buys a product, no bitcoin transactions should be made. Instead, the values (balances) in the database should change. If a user have 0.2 BTC in his balance, and then he buys a product that costs 0.1 BTC... 0.1 BTC +0.004 BTC (4% platform fees) should be deducted from his balance and 0.1 BTC should be added to the seller's wallet (always, on the database). Now, whenever a withdrawal request is made from a user's dashboard, that's when you make an on-chain transaction based on the user's balance found in the database. In order to do any of the above, you have to be familiar with Bitcoin-CLI[1][2]. [1] https://chainquery.com/bitcoin-cli[2] https://www.youtube.com/watch?v=cMM-t7azzJE&list=PLhWIQKZKupCawKJQBAEJc-Y4I30HQ6KBHSounds like an amazing idea, and would truly be something in the space. Though I imagine that people buying things in Bitcoin aren't going to want all their money sitting with a centralized company with no idea as to if they're getting their funds are not. Just a concern I always raise when it comes to crypto projects that are going to be holding the coins themselves during a transcation. I'd imagine a good idea would be to setup some sort of wallet where independent moderators (arbitrators) can release the coins to the sellers once everything is confirmed to have been delivered to the buyers. Though then again, we land in a place where you have to trust someone, now we're stuck to trusting the moderators. Pretty much why people stick to sites like Ebay/Paypal/Amazon -- they know that if something goes wrong, in the worst case they can claw their money back from their credit card company. A benefit and a tradeoff to not have in crypto. |
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