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1  Bitcoin / Bitcoin Discussion / Re: Bitcoin Dumps to $32K as China’s Bank Announced a Ban on Crypto Usage on: June 21, 2021, 04:41:29 PM
$32K is almost the level at which Tesla made their Bitcoin purchase. When Elon triggered the crash with his irresponsible tweets, they were sitting on top of unrealized profits worth $1.2 billion (more than their annual profit for the year 2020). Now they are back to square one. I would like to know what will be the strategy from Tesla now. Are they going to sell their coins, or are they going to stay put? If they decide to dump their coins, then it represents another risk for us. This possible event can keep the prices suppressed for many weeks, if not months.
2  Economy / Gambling discussion / Re: T20 and T20I cricket prediction and discussion on: June 21, 2021, 04:16:25 PM
I thought your guess wouldn't be right. Because in the 16th over, after losing the wicket of Maqsood, the players of Multan Sultans were collecting only 5 runs in the 17th over. But they scored 29 runs in the 18th over. With the help of Khushdil Shah's superb performance of 42 off 22 balls, Multan Sultans managed to score 180 runs in 20 overs. This seems to be enough to win.

Well.. looks like it's all over for Islamabad United. They need another 120 runs in 10 overs, with just 5 wickets remaining. Colin Munro got out for 0 in the first over and at that point the chances of any IU win dropped to less than 10%. Usman Khawaja is still there, but he is not someone who is capable of scoring at a rate of two runs a ball (not ignoring the fact that just a few days back he hit 105 from 56 balls). For MS, Sohail Tanvir is looking really good. On top of that, their surprise package Blessing Muzarabani also performed well today.
3  Economy / Gambling discussion / Re: Test Cricket Prediction and Discussion Thread [self - mod] on: June 21, 2021, 03:59:56 PM
West Indies have already lost 3 valuable wickets to score 102 runs. West Indies need 222 more runs to win. There are still about 69 overs left today. I wouldn't be surprised if the West Indies lost all their wickets today. The match may end in 4 days.

There is no chance that West Indies is going to make a total of 300 plus in their second innings, against a bowling attack that is comprised of Anrich Nortje, Wiaan Mulder, Lungi Ngidi, Kagiso Rabada and Keshav Maharaj. They managed just 149 in the first innings (and that too thanks to decent scores from Jermaine Blackwood and Shai Hope). Anyway, now they are struggling at 107/6 and Keshav Maharaj has got his first test hattrick. West Indies trail by 216 runs, while the South Africans need just 4 wickets to win.
4  Economy / Gambling discussion / Re: ⚽UEFA EURO 2020 Discussion Thread | Current Phase: Finals in June 2021! on: June 21, 2021, 02:10:04 PM
Actually, both Wales and Switzerland have the same chance of qualifying for the Round of 16, it's just that Wales is a little lucky because they are against Italy in the last match.

When against Wales, Italy rotated players where Roberto Mancini chose to rest the Italian main team. Of course, Italy's performance is not the same as against Switzerland and besides that Italy has certainly qualified for the round of 16 so they don't play too hard.

Wales had a better goal difference when compared to Switzerland. And they maintained this advantage despite losing to Italy 0-1. And Switzerland couldn't close the gap although they managed a 3-1 victory against Turkey. And also remember that the second tier Italian team is much better than the regular Turkish team. Despite all that, Wales managed to put up a strong show against Italy (and they were down to 10 men for most part of the second half). In the end, the Wales team proved to be superior to Switzerland. Anyway, both the teams will progress to the knockout phase.
5  Bitcoin / Bitcoin Discussion / Re: Bitcoin Dumps to $32K as China’s Bank Announced a Ban on Crypto Usage on: June 21, 2021, 01:36:43 PM
Currently, the price is hovering just above 32500$. The FUDs are getting too much these days and especially China is trying to put its miners below their feet. The has rates are going back to mid-2020 levels. In my opinion, this is actually a good thing for the BTC's future. The mining % will be less under the Chinese communist and this will also create more mining plants outside China. So this news might be a blessing in disguise for the crypto community.

It is a blessing in disguise and no one is really comfortable with the fact that 70% to 80% of the mining hash power is concentrated in China. There are several countries with more friendly cryptocurrency policies. But the issue is that the vast majority of the mining hardware is produced in China and therefore it is cheaper to set up mining farms there. In countries such as Russia, the electricity cost is low, but it is expensive to import all the mining hardware from China. But eventually, the miners need to take this step if China remains hostile.
6  Bitcoin / Bitcoin Discussion / Re: HODL...until when? on: June 21, 2021, 11:13:12 AM
If you think you have made a profit you can cash it out. This can't be called hold, for me hold it has a target, I personally do hold Btc for the next 5 years. And whatever happens in that year I will cash it, because that's the system I run. Or you can hold with the aim of getting a profit of 20 - 50%, if you don't get it you will still hold. It's simple and very easy to try.

Well.. some people have a target in terms of duration, such as they will hold for 3 years or 5 years. For most of the users however, the target is defined in fiat currency, such as $100,000 per coin or $250,000 per coin. In my case, it is the latter scenario. Both methods have their own advantage and therefore I don't want to degrade any of them. But one negative with the first method is that, since Bitcoin is so volatile, there is a chance that a correction phase may be ongoing at the time you want to sell your coins. So what you will do? Will you sell your coins, or will you change your target?
7  Bitcoin / Bitcoin Discussion / Re: Bitcoin Dumps to $32K as China’s Bank Announced a Ban on Crypto Usage on: June 21, 2021, 10:55:11 AM
Similar to the previous episodes of FUD from China, the impact of this news will be gone in one or two weeks. All we need to do is to wait. It actually surprises me that China still holds so much influence on the cryptocurrency exchange rates. They have crashed the cryptocurrency prices at least two dozen times and the traders still haven't learnt the lesson. I don't know the mentality of those idiots who dump their coins when some negative news from China appears in the media. Are they so dumb to sell their coins in panic?
8  Economy / Economics / Re: Trump regrets not banning twitter as he hails Nigerian government for doing so on: June 21, 2021, 10:43:38 AM
Banning some company just because they don't like what kind of news are being made public is wrong. If it were criminal activities I could understand and would support it. But just to block people from speaking their mind is so wrong. It is 2021 and we should live in a free world with rights of free movement and freedom of speech. Humanity should have evolved by now to a world where people can just argue with each without going into extremes.

It was Twitter, which started the ban game first. They banned the account of the Nigerian president. So you can't claim that Twitter is really a torch bearer for freedom of speech. One reason why it attracted a disproportionate response from the Nigerian government was due to the fact that Twitter is already known to use their platform for political intervention. Obviously the Nigerian government don't want a repeat of what happened during the 2020 presidential elections in the United States. If Twitter take an unbiased stand, then they will have a high ground in this dispute. But that is not the case here.
9  Bitcoin / Bitcoin Discussion / Re: HODL...until when? on: June 21, 2021, 07:47:39 AM
It is almost impossible to find the perfect timing to sell your asset. The least risky method in my opinion is to go for systematic and gradual profit booking, by selling a fixed portion of your stash every month. I would recommend this, if you hold considerable amount of coins (>10 BTC). But in case you have only 1-2 BTC in your wallet, then this strategy doesn't make any sense (because the amount you will receive after selling the coins will be finished in a couple of years). You need to wait for some more time, and wait for the exchange rates to reach $100,000 or $250,000.
10  Economy / Economics / Re: Covid-19 effect on your country's economy!!! on: June 21, 2021, 07:37:33 AM
Our employees are offered all the safety measures at the office, but they prefer moderate and calm work from home, over the work from office. They had sales plans, to make, they did not do them completely, they were warned about it, yet still they prefer to work from home, because "they thought that still few customers will visit the office". Btw, their salary depends from number of sales. They prefer to earn less, but work from home, over working from the office and earn more. Strange people.

My cousin works in IT. He works from home, but desires to get back to office. Because while working from he doesnt have standardized working day. His work does not end at 18:00. And he does earn hourly, but in county we have fixed monthly salaries.

It is never 100% safe, no matter whatever safety measures are being put in place. Even those who have received two doses of the vaccines are not 100% safe from the virus, especially with so many new strains emerging. And regarding the argument that employees prefer to earn less, while working from home, it is perfectly understandable. After all, you can earn only if you are alive. And the argument from the part of employees is true as well. Economy hasn't yet recovered completely. So even if you go to the office, there will be less number of sales.
11  Economy / Speculation / Re: Will China's crackdown on Bitcoin cause Bitcoin to become worthless? on: June 21, 2021, 07:22:05 AM
You are a newbie so it is understandable that you do not know but FUD coming from China is nothing new, in fact there was a time in which the influence of China was huge and only a comment was needed to crash the price of bitcoin, however the more they do this and the more they lose control of mining and the miners move to other countries then the less power and influence they will have over this market so I am not worried about this at all.

China still retains a lot of influence, but now most of the traders have taken steps to lessen the impact of any hostile government action. Many have moved their trades to exchanges in Hong Kong and South Korea, and in rare cases the traders themselves have moved out of China. And regarding the mining sector, it is true that China still contributes to around 70% of the hash power. But over the years, the percentage has come down and in the future we can expect it to go further down, and may hit the 50% level.
12  Economy / Economics / Re: Aren't we the reason why BTC is becoming too much centralized? on: June 21, 2021, 06:49:49 AM
Bitcoin is more decentralized when compared to any other cryptocurrency and there is nothing to worry about the centralization right now. A lot of the critics point to the fact that major mining pools such as F2pool, Antpool and ViaBTC control a large share of the mining hash rate. But what they ignore is the fact that not a single individual mining farm accounts to more than 3% of the total hash rate. And the miners can leave or join the mining pools as per their preference. So the stats for major pools are not very significant.
13  Economy / Economics / Re: Are you making money online? on: June 21, 2021, 06:38:45 AM
I am someone who have been doing freelancing to supplement my main income for the last 15 years. I have to say that when I started, things were much easier. You could easily earn $20 or $25 from doing small tasks such as forum posting or data entry. But by 2010 or so, things started to get harder. There was a huge influx of users from developing nations such as India and Bangladesh, who would be ready to work for 1/5th or even 1/10th of the regular rates. They could not match the quality, but with such cheap rates they made it really hard for everyone else. And even now, the situation hasn't changed much.
14  Economy / Gambling discussion / Re: Test Cricket Prediction and Discussion Thread [self - mod] on: June 21, 2021, 06:18:18 AM
Changing condition is really challenging. There is more chance of match ending in a draw. After the day 3 game New Zealand is quite strong with their performance. Let's see how the day 4 goes. What happens today seems to make the conclusion of the match. Everyone will be expecting an win out of the match by one of the team.

Three days remain in this match, so there is a good chance that we'll get a result (even if there is some disruption from rain). On the other hand, if the match ends in a draw, then it will be a blow for the ICC in their attempt to make the test format more appealing. Who in their right mind would spend 6 days from their precious time to watch a cricket match, which ends with no result? I am not impressed by this entire WTC setup. First of all, the ICC needs to divide the test championship to two divisions.
15  Economy / Gambling discussion / Re: ⚽UEFA EURO 2020 Discussion Thread | Current Phase: Finals in June 2021! on: June 21, 2021, 06:07:58 AM
Today we will get to know who will qualify from Group C. Netherlands has already qualified, as they have two wins (six points) from two matches. The winner of the match between Austria and Ukraine will finish at the second position (they have 3 points each and the goal difference is also same). North Macedonia for all purposes is out of the tournament, even in the unlikely scenario of them beating Netherlands today. It is unfortunate, as a lot was expected from them after their shock win over Germany in April.
16  Economy / Gambling discussion / Re: ⚽UEFA EURO 2020 Discussion Thread | Current Phase: Finals in June 2021! on: June 20, 2021, 05:56:53 PM
It's all over in Group A. Italy finishes on top with 9 points, with Wales at no.2 (thanks to better goal difference). Although Switzerland is at no.3, in all probability they will advance to the knockout phase since they have 4 points. Wales did really well, I have to say. Because they didn't conceded another goal despite being reduced to 10 players. They were on full defensive mode after Ethan Ampadu received the red card in 55th minute. But surprisingly despite the numeric advantage Italy could not score another goal in the second half.
17  Economy / Gambling discussion / Re: Test Cricket Prediction and Discussion Thread [self - mod] on: June 20, 2021, 05:27:20 PM
I think India's top order batsmen did not play well so India lost all their wickets by so few runs. Although they relied on Kohli and Rahane. But they also failed to build resistance in front of New Zealand's bowling.

New Zealand scored 101 runs losing only 1 wicket. Conway is unbeaten on 54. My guess is that New Zealand will be able to collect more than 380 runs.

Devon Conway got out almost at the time you made the post. New Zealand was well on front foot, but the wicket of one of their best batsmen pulled back some momentum for the Indians. And it was Ishant who took the wicket of Conway. Before the playing XI was announced, there was a lot of debate about replacing Ishant with Siraj. But I was against that idea, because Ishant is one of the most experienced pacers in the Indian lineup and I thought that he will be more effective under the English conditions.
18  Economy / Speculation / Re: Bitcoin dominance hits 57.7%, alts lagging behind on: June 20, 2021, 02:07:09 PM
Latest stats from 20th June 2021.

Total market cap: $1,418,123,981,693 (-6.24%)

Bitcoin: $638,556,542,054 (45.028%)
Bitcoin forks: $13,941,983,550 (0.983%)
Stablecoins: $106,480,436,762 (7.509%)
Altcoins: $652,624,778,778 (46.020%)
WBTC: $6,520,240,549 (0.460%)

This is the change compared to my last post:

Bitcoin: +0.580%
Bitcoin forks: -0.018%
Stablecoins: +0.494%
Altcoins: -1.067%
WBTC: +0.011%


Latest stats from 13th June 2021.

Total market cap: $1,512,460,203,738 (-8.13%)

Bitcoin: $672,261,334,639 (44.448%)
Bitcoin forks: $15,144,231,844 (1.001%)
Stablecoins: $106,088,987,188 (7.014%)
Altcoins: $712,183,635,015 (47.088%)
WBTC: $6,782,015,052 (0.448%)

This is the change compared to my last post:

Bitcoin: +3.280%
Bitcoin forks: -0.043%
Stablecoins: +0.644%
Altcoins: -3.916%
WBTC: +0.035%
19  Bitcoin / Bitcoin Discussion / Re: El Salvador to revoke Bitcoin as legal tender? on: June 20, 2021, 01:52:06 PM
does it include a failed test process, because the price of Bitcoin has entered the bearish zone? I'm afraid this puts El Salvador in a dilemma and is not ready to accept full payment with the consequences of Bitcoin?

to the OP where can I get news about the Salvadoran government's statement regarding the repeal of the policy?
give us proof  !!!

El Salvador is a sovereign country and it doesn't need the permission from World Bank, or IMF or for that matter any other internatioal agency to make Bitcoin legal tender in that country. You can go through this article from CoinDesk, which details the situation:

https://www.coindesk.com/el-salvador-bitcoin-mandate-article-7

This is the only contentious section of the recently passed legislation:

Quote
Article 7. Every economic agent must accept bitcoin as payment when offered to him by whoever acquires a good or service.

A compromise can be reached here, IMO. Bitcoin can be kept as a legal tender. But the government should not enforce the Article 7. Because many of the smaller stores may not have the capability to accept Bitcoin for payments and to store the coins.
20  Alternate cryptocurrencies / Altcoin Discussion / Re: Which Meme Coin Will Survive Long on: June 20, 2021, 01:41:10 PM
In my opinion, no meme coin has survived in the long term other than DOGE. Many meme coins are thrown away and forgotten. However, it is up to the development team to advance their coins and those who are already listed on some reputable exchanges.

In the long run, even Dogecoin is not going to survive, unless it adapts. And so far I haven't seen any such attempt from the developers. The promoters and a handful of whales own a large majority of the circulating supply and they are looking for an opportunity to dump those coins. Those who purchased DOGE close to the peak level will be stuck with these worthless coins in the end. And regarding the other memecoins, I haven't come across any coin which I believe is going to survive for more than a few months.
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