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1  Economy / Exchanges / Re: Coinbase are now offering loans for US base customers on: August 21, 2020, 02:10:12 PM
It's a nice idea to grow their business, but I don't like the idea of my coins being blocked by an exchange since they're collateral.
Besides, as many people have already pointed, interest rate is way too high. It can only appeal to people who couldn't get a loan from a real bank.
2  Economy / Economics / Re: Global Migration of Millionaires. Can Bitcoin change this scenario? on: August 21, 2020, 02:02:18 PM
Interesting data, thanks. But much incomplete. They talk of London and NYC are prime cities to relocate, I'm used to see people from those 2 cities leaving for good...
I don't see many people changing citizenship. In Monaco or Switzerland, there are thousands of foreigners living there. They will never go back to their past home, but they don't need local citizenship. The people I see looking for another citizenship are those from a shitty African country. They want a better passport to travel.

Passports are expensive. So most of them opt for residence permits, which may come cheaply. For example, if you want EU citizenship then you can purchase passports from Cyprus (€2 million+), Bulgaria (€1 million) or Malta (€1.1 million). But a much cheaper option would be to get a residence permit. For example, Latvia will give you a residence permit, if you are ready to invest just €100,000. With this permit, you can travel freely in the Schengen area. Similar permits are available from dozens of nations, including Spain (€500,000), Switzerland (€1 million), Italy (€500,000).etc.

BTW, if you want the cheapest option, you can opt for the Thailand Elite Residence Visa. It will cost you THB 500,000 ($15,800). A 20-year visa is also available for around THB 2 million ($64,000).

Again, that's a huge waste of money.
You don't need a residence permit. I've helped people buying houses in the Schengen area, all they had was a tourist visa (3 months), and everything was fine. Those people travel all the time, they'll get another visa when they'll come back.
3  Economy / Economics / Re: Global Migration of Millionaires. Can Bitcoin change this scenario? on: August 08, 2020, 01:31:11 PM
I wonder where's the data is coming from.
The people like me who travel all the time, or the people who moved to another country, most often, keep quiet about it.

The data is from here:
https://e.issuu.com/embed.html?u=newworldwealth&d=gwmr_2019

And no, you can't really keep quiet when you change citizenship, those are not expats living abroad, those are people that moved entirely and in most cases for good, besides, the data shows HNWI that were already in their database, people who have not kept a low profile even when they were not thinking of moving out. A lot of companies deal with this kind of data, especially luxury brands and realtors, once a multi-million dollar property changes hand the whole industry knows.

Interesting data, thanks. But much incomplete. They talk of London and NYC are prime cities to relocate, I'm used to see people from those 2 cities leaving for good...
I don't see many people changing citizenship. In Monaco or Switzerland, there are thousands of foreigners living there. They will never go back to their past home, but they don't need local citizenship. The people I see looking for another citizenship are those from a shitty African country. They want a better passport to travel.
4  Other / Politics & Society / Re: Crypto Mining Boom in Abkhazia on: August 04, 2020, 01:03:55 PM
According to Nuzhnaya Gazeta, importing crypto mining rigs remains legally permissible. Importers are required to pay taxes equal to 1% of the hardware’s worth and a VAT of 10%.

I have no idea about electricity prices out there, but tax are very low. Much cheaper than anywhere in the EU.
Considering the people are probably starving in that place, BTC is definitely a good thing.
5  Economy / Economics / Re: Global Migration of Millionaires. Can Bitcoin change this scenario? on: August 04, 2020, 12:58:35 PM
I wonder where's the data is coming from.
The people like me who travel all the time, or the people who moved to another country, most often, keep quiet about it.

Anyway, BTC helps a lot. Many countries, like China, Morocco or even Montenegro, have strict capital controls. I mean that you have your money in the bank, but if you want to wire money to another country, it must be green-lighted by the country's central bank. Sometimes, it says no, so you're screwed. Unless, you have BTC of course...
6  Economy / Economics / Wirecard: when the fraudsters are bright Germans on: June 25, 2020, 10:25:21 PM
Some people told I was crazy to invest in BTC!
Better stick to real money, and put it in real banks, they say.

Have a look at Wirecard, it used to be the leading fintech in Germany.

https://www.reuters.com/article/us-wirecard-accounts/wirecard-files-for-insolvency-idUSKBN23W176
7  Economy / Exchanges / Re: Poloniex shows no remorse, so no forgiving on: June 17, 2020, 09:15:54 AM
Unlike Binance, they continue to resolve problems that their customers are dealing with in a quickly manner.

That's a good point.
We may also compare with the tether affair at Bitfinex. That one was huge, some $800 million, but no Bitfinex customer has lost a single satoshi.

Poloniex seems to be a joke.
At current prices 1800btc-180btc* = 1620BTC approximately 14mil EURO, and it used to be less than 7mil.

Imagine another exchange that after a year cannot pay back 7-14million Euros to get his customers and its fame back.

( * In order to gain time and sale themselves to a company that is not USA based they gave back 10% back)


I know that, it would not cost a fortune. It may even be a good investment, considering all the free positive publicity they would get.
8  Economy / Exchanges / Re: Poloniex shows no remorse, so no forgiving on: June 08, 2020, 09:48:12 PM
But can't customers who lost money due to the scandal get together and go on a legal battle? I think it would be cheaper that way

It's not easy.

Nobody paid attention to it, but when we registered at Poloniex we accepted their terms, which explained there couldn't be any kind of class action, or collective lawsuit against them.

Besides, the victims are all over the world. We'll just let them die slowly. The only thing which make me happy is that Circle (former owner) has lost way more than me with Poloniex.
9  Economy / Exchanges / Re: Poloniex shows no remorse, so no forgiving on: June 07, 2020, 07:53:41 PM
Never say never...

They should consider the good publicity. Poloniex is paying back what it took from its customers. That would make headlines everywhere.
10  Economy / Exchanges / Poloniex shows no remorse, so no forgiving on: June 06, 2020, 09:42:35 PM
Exactly one year ago, something quite terrible happened. Poloniex stole some 1800 BTC from its customers. That's old news, but as I've lost more than one BTC int the affair, I'm not ready to forget.

Poloniex hasn't paid back, yet.
They've added a new splash screen recently, explaining lending is high risk.
This is 100% BS.
Several exchanges propose lending services, to allow their users to do margin trading.
It is safe, providing the exchange doesn't allow huge trades on smallish sh*tcoins, that very few people are trading. That is gross negligence.

Poloniex got burned, so did I, as all the other people who had part of their funds stolen.

As Poloniex hasn't paid back yet, I can only recommend newbies and all other bitcointalk users NOT TO USE Poloniex when they need an exchange.
11  Economy / Economics / Re: Get ready for more tax. Save your BTC! on: May 29, 2020, 09:17:50 PM
We see it everywhere. To counter that coronavirus disaster, governments are spending money like there's no tomorrow. Budget's deficit will rise to new heights, never seen before except during war times. In US and EU, debts are staggering. The Federal Reserve and the European Central Bank are printing money faster that I'm writing it. If you ask what's next, I'm afraid there's only one answer.

In most countries, governments will have no other choice but to raise taxes. They will have to be smart to avoid killing the economy, but they will need to bring more money to balance their budget (or more likely to reduce their operating deficit).

As I haven't paid any income tax since 1997, that's all right with me, but I urge all fellow Bitcoiners to organize themselves, and to plan ahead to avoid the worst...

Or could I be wrong? There will be no more taxes next year?
Unfortunately, it is impossible to completely not pay taxes. You can not pay tax on real estate, car, work on informal work. But the price of products already has a tax, so alas, you still pay it. Yes, the economies of many countries will not be able to withstand such a load, and there is still no confidence in the future. In addition to raising taxes, of course.

I was only talking about income tax!
I pay tax each I'm buying gas, I'm paying property tax on my houses, I'm paying VAT on nearly everything...
12  Economy / Economics / Re: Get ready for more tax. Save your BTC! on: May 22, 2020, 08:27:55 PM
As I haven't paid any income tax since 1997

As I haven't paid any income tax since 1997
You are 22-23 years old and you are unemployed, am I understand correctly?
For example:
- everyone in the country is getting sick
- the country begins to have problems with financing the health system
- the gov starts having problems with assistance to victims
- the gov of the country begins to have problems with money because the gov uses money to cure everyone
If you didn't pay taxes, you probably don't know where they come from. People pay taxes to the state so that the state can function on these taxes, provide people with goods and everything in this spirit.
If the money runs out and they are needed - gov will print (the printer makes brrrrr) more money to help their own citizens.
Citizens who feel the support of the state understand that all this is done on their taxes (they did not pay them for nothing) and they are at least a little but still morally ready for the fact that now the crisis will begin (has already begun) and they will have to tighten their belts.

We print money after which we recover and start to get out of the crisis (very rough chain but you understand me). If we decide to raise taxes - then we start with the strongest and put on the shoulders of our giants some obligations to help us (in the future it will pay off) and so to the very bottom and it is not a fact that we will get to the bottom.
It takes some time for us to get out of the crisis and then reduce taxes by the previous amount or even less because the time after the crisis is a time of rapid recovery and development.
Question - what is wrong here and why do you not pay taxes at the age of 22-23? If you do not pay then you do not have a moral right to any public goods that everyone else has a right to.
/thread

Don't imagine, you have no imagination.
I paid income tax in 1997 and the years prior.
I'm proud to say I'm financially independent, without any need for public help. The world would be a better place if everybody was like me.
13  Other / Politics & Society / Re: Prolonged border closure on: May 14, 2020, 10:16:26 PM
Things are getting a bit better, I shall try to cross 2 borders within the next few days. I just hope everything will go smoothly, because as of today I'm getting information that I won't be able to return. Very difficult times for travelers like me...
Maybe just wait?

Yes, thanks for advice, I've been waiting quite a lot already, but I shall wait a bit more, as I'm getting contradictory information about a border I had plan to cross (I'm in western Europe, traveling by car). Besides, I'm still separated from my girlfriend who's in Russia. They don't let any foreigners in, and she can't visit me...


Russia is sealed off due to Covid?

Well, Russia doesn't accept any foreigner in, so I can't travel to meet her, while I'm in the EU which doesn't accept people from outside the Shenghen area. So we both can travel to each other's place. We've met in Latvia before, but it's closed to foreigners at this time, so there are no easy solutions...
14  Other / Politics & Society / Re: Prolonged border closure on: May 12, 2020, 11:06:57 PM
Things are getting a bit better, I shall try to cross 2 borders within the next few days. I just hope everything will go smoothly, because as of today I'm getting information that I won't be able to return. Very difficult times for travelers like me...
Maybe just wait?

Yes, thanks for advice, I've been waiting quite a lot already, but I shall wait a bit more, as I'm getting contradictory information about a border I had plan to cross (I'm in western Europe, traveling by car). Besides, I'm still separated from my girlfriend who's in Russia. They don't let any foreigners in, and she can't visit me...
15  Economy / Economics / Re: Is a real estate crash/dip due? on: May 12, 2020, 10:50:28 PM
It's already here, at least where I live (Spain). Property prices have dipped 20-30% in some cases, most especially those that were being rented out to tourists. And I can only forecast further dips with the rising numbers of unemployment, foreclosures and everything that is yet to come.

Good to know. Unfortunately, I don't like Spain very much, but I'm waiting for the same thing to happen in the countries I love.
16  Economy / Economics / Re: You want to get rich, don’t pay taxes, don’t get married, don’t use bank, and... on: May 12, 2020, 10:47:54 PM
I haven't paid any income tax since 1997, and I'm using banks all the time. You just need to avoid living in countries with high income tax. Or just visit them as a tourist if you enjoy those places. I'm using banks because I wouldn't know how to get paid without them, nor do I know how to run any kind of business without one.
17  Economy / Economics / Re: Bitcoin has just halved for the third time! A snaphot of various metrics! on: May 11, 2020, 11:22:24 PM
Looking at the price, this turns out to be a non-event.
Just like last time, if I remember correctly. We'll have to wait a few months to see its effects. So far, only geeks have something to talk about.
18  Economy / Economics / Re: Is a real estate crash/dip due? on: May 11, 2020, 11:17:15 PM
It's all tourism related, real estate prices will only change in places where tourism is high.

It's a factor but not the main driver in the most deranged places. Look at places like Vancouver. That's Chinese money that's been driving things. It's not tourism, it may be citizenship tourism.

Yes, citizenship tourism, but will this last? There used to be quite many wealthy Chinese willing to invest outside of China, this may change.

I hadn't given much thought about mortgages. It's hard to imagine how many people won't be able to pay back what they should, hence leading to bank seizures. That could cause a crash in some places, but I expect politics to play a role here. I know millions have lost their jobs, but turning them into millions of homeless, would be a tragedy. I'm sure politicians are thinking about it. They could write a new law stating that people who have lost their job could get a 6 months extension of their mortgage without penalty.
19  Other / Politics & Society / Re: Prolonged border closure on: May 11, 2020, 11:03:28 PM
Things are getting a bit better, I shall try to cross 2 borders within the next few days. I just hope everything will go smoothly, because as of today I'm getting information that I won't be able to return. Very difficult times for travelers like me...
20  Economy / Economics / Re: Is a real estate crash/dip due? on: May 10, 2020, 11:13:35 PM
I would not talk about a crash, but of a correction, but I shall add it was much expected.
If you own a large house in the country, I don't think its value will be lowered. The big change will be in places where prices are just stupid. That's San Francisco, Vancouver or Venice. In Venice (Italy), there's only one third of the people compared to 50 years ago. Because most houses and apartments have been turned into B&B, or are on Airbnb.

It's all tourism related, real estate prices will only change in places where tourism is high.
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