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1561  Economy / Economics / Re: A tale of the two parasites on: October 24, 2021, 04:44:31 PM
This is the reason why the divide between the poor and the rich blurs even more today than in the past, and not for the better. The ones most affected are the people who are not rich but are not poor either, those who are able to live stable, well-off lives. They are left to of course care for the sentiments of the poor but at the same time under the rich parasite's tyrannical hold. What can we do about it? provide help and information when needed, and stop nourishing the leeches of the society basically.
Wealthy people always live in a prosperous way in society they are not parasites the poor live like parasites like the rich do not improve their normal life journey the biggest victims are the poor people many of whom ‘eat day by day. This stagnation has also had a major negative impact on people whose incomes are slightly above the poverty line but because the economic base is fragile these people are helpless, they can be catastrophic in any disaster or economic crisis.
This is what I am saying. The economic divide between the rich and the poor is becoming more and more unrecognizable, which is good if not for the fact that it's the middle class that's becoming more poor and the rich are able to enjoy the luxury of life. The stagnation in economic growth, couple that with the ever-existing graft and corruption from each government, makes living very hard for the poor and the middle class while so advantageous for the elite.
1562  Economy / Economics / Re: Really, why bitcoin has this value? on: October 24, 2021, 03:47:31 PM
I guess the prices are as such because of the fact that more and more influential figures with multiple million dollars in their name like Elon Musk adopting bitcoin in their investment portfolio. The fact that they dragged a massive following along with them while investing huge amounts of money as well made the price pump like that since last year. I'm pretty sure there are people who would assume such action is grounds for speculation, but I would disagree knowing that a majority of people who invested and held on to their bitcoins are in it because of the use-cases it can bring to the table.
Although bitcoin is currently around $63k, but this does not guarantee bitcoin will continue to be worth, this is because bitcoin has a decentralized concept so that the price goes up or down depending on the community, maybe the price will continue to rise because the community is getting bigger but we have to be realistic that one day bitcoins can be worthless.

This is really a concern that everyone has, I want to analyze it from pure buy and sell power angle

I have followed the price movement for many years. What I observed is that some kind of price stickiness in it, so it maximum crash 80-90 percent.

I think this is due to combined effects of 2 major driven factor:

1. dramatically reduced selling pressure when the price has gone down so much
(For those who bought the top, it doesn't matter if they sold at 90% loss or 100% loss, they have lost most of their investment anyway, so they end up do nothing and hodl, and this in turn reduce the sell pressure)

2. dramatically increased purchasing power of market buyers
(With same money, you can buy 10x more coins when price has crashed 90%)

That's why when it crashes 90%, the sell pressure will disappear and price will start to stabilise. As a result, if you could drive the price up 100x, even after the crash, you could raise the new bear market bottom to be 10x higher than the old bear market bottom. And that will draw new participants

A big limitation is the fiat money inflow channel, today many banks are restricting it, trying to starve the cryptocurrency market, but with the rise of USDT and other stable coins, it seems the community has find its own way of generating liquidity without fiat money inflow, this is the new development and will raise the price by a few magnitudes if keep going without restriction



This is a very sound explanation from an entrepreneurial perspective. Price pressure and price stabilization does play a role in ensuring that the price floor of bitcoin is kept in check even when it is bearish. Giving people opportunity to buy bitcoins at a much more favorable price point than years ago. I still don't think this solves the question of whether bitcoin is indeed a speculative asset or not, since there are still some parts of the whole thing about bitcoin that is not covered like the fact that it skyrockets when it does, but nonetheless a good explanation.
1563  Bitcoin / Bitcoin Discussion / Re: Bitcoin has died 432 times on: October 23, 2021, 08:44:47 PM
Journalists have sensationalized and have made money off of telling people that a certain asset has already died off or is already in the verge of extinction. They did this in the past, they will do it again. It's just up to the people to believe in their shenanigans or if they will do their own research and in that process allow themselves to be the masters of their decisions. Bitcoin will inevitably fall in price in the future, that's just how things go in the crypto world, but it dying? UNLIKELY.
Actually, before opening this thread I thought the title was mere hyperbolic; an exaggeration of some sort, but I guess it isn't. I'm not surprised nonetheless finding an obituary of Bitcoin for 2017 to be the highest of them all according to the site –2017 (124), for that was when the bubble FUD was at its peak. In fact, it was that experience of 2017 that formed my resolution that Bitcoin is truly a phoenix; a cat with nine lives. This day, I don't care about whatever negative opinion people have about Bitcoin because I know (from experience) that whatever happens Bitcoin will definitely recover and come out top.
A cat with 432 and counting lives you mean lol. If each dump bitcoin is considered dead then we'd already have mourned over our losses a couple hundreds of times already. But look at us, still kicking, still buying high and selling lol for the newbies lmao. It's all just up to the people who really see potential from the cryptocurrency industry and its affiliate sectors to stay because of its potential in the future or run away with their losses prevented or alleviated but missing out on future winnings.
1564  Alternate cryptocurrencies / Altcoin Discussion / Re: Binance promoting Shiba Inu on: October 23, 2021, 07:06:15 PM
Pretty sure this is nothing but a paid advert SHIB devs have made to cater their listing on binance. They are pretty much known for using their hype for their advantage and I'm not saying that it's not good, but nonetheless doesn't really reflect what they can really do as a cryptocurrency. In a few days' time depending on their contract this should be lifted off of their front page and things will go back to normal, with their hype possible subsiding along the way. In that case, they would have to find a new way to garner people into their cryptocurrency.
Well, I saw Shiba Inu in some crypto casinos! BC.Games have it in their wheel, 100 Shiba Inu reward, Wolf is accepting it from recently... and now I see Binance is promoting them as well! Something is happening with this Shiba, I am not in that, so I don't have any clues about what is going on, but I will check them!
I am always careful with new meme coins, so I don't jump in early stages!

That's the risk of being a late adopter. You don't get to enjoy the biggest pumps from when the coin was still unheard of. SHIB has been posing some great growth lately and thus their developers are only wise to weaponize this as a form of hype campaign to ensure that their price continues to rise if not stabilizes at a reasonable value. Again, the hype doesn't necessarily reflect their purpose or mission in the cryptocurrency space so it's still good that you are being wary, just saying that being too scared would really keep you out of the biggest pumps in the market if so.
1565  Economy / Economics / Re: Do you think narcos may actually be on the 10 richest? on: October 23, 2021, 06:13:37 PM
Narcs are still selling like hotcakes, so I wouldn't really be surprised if these criminals make it up to the top of the ladder and would dare not say they don't deserve it, because it takes a lot of skill in order to climb that which I have to give to them despite the fact that they are literally breaking hundreds of laws and are ruining millions of people's lives in the process. The thing with these criminals is they make a vast network of connections that will keep them scot-free from the law and their rivals.
This reminds me of Colombian characters, like Pablo Escobar and the occasional politician from Venezuela, which, if I think they are on the list of the world's most millionaires and that they are probably involved in BTC. Many who are actually narcos and their names do not appear on a list, but due to their growing economic development they cannot hide the money in the big banks, nor in Switzerland, so the best thing for them would be BTC, in fact in Venezuela the activity mining is regulated by the government, which means they are probably very into it. In the case of Warren Buffet and some illustrious people shown on the list, since they have amassed their wealth from years ago, I would think that these people have worked hard to obtain what they have, at least Warren Buffet's books are very demonstrative.

Pablo's supposedly dead already but I wouldn't be surprised if his relatives are into bitcoin, especially if they are still into that kind of business which definitely needs some sort of security and safety against the law. not saying Bitcoin is best for criminals, but is just convenient for most people that they saw into it and had made use of such convenience and security as well. I hope the law makes them pay in the process still but until then, we can only hope and pray.
1566  Bitcoin / Bitcoin Discussion / Re: Bitcoin > Gold on: October 23, 2021, 05:13:36 PM
Gold had its history and longevity to vouch for its relevance and purchasing power. Not to mention the practical and commercial uses of gold in the production sector. Bitcoin may have only been in the market for 10+ years but its exponential growth each step of the way proved to rival that of gold's. It also offers the same if not better profitability as gold plus the fact that it promises future application in technology and economically as a direct substitute to fiat currency. I wouldn't say one is better than the other because at the end of the day they serve different purposes in serving the people.
Bitcoin and gold are exactly different and it varies depending how people see them.

Gold can be an asset, sort of investment, or it can be just an art but either way it can be bought because there's a value of this precious metal due for its scarcity, BUT gold doesn't give you long-term hedge against inflation and occasionally gold can be used as a social status or show of wealth.

Bitcoin can be an asset in the form of investment, and it is already historically proven that bitcoin is the best hedge against inflation. And the one of the best thing about this crypto is it's safe, reliable and it is decentralized and that means there's no single person or organization that oversees the transaction so that you can remain pseudo-anonymous.
inflation is what sets apart these two. If people sees them as assets and stores of value then it is obvious that bitcoin will win over gold, with it being separate from the currency system of the world and it not being affected by outside circumstances that would normally affect fiat. However, rarely are things ever one-sided, and there are people who will take the practicality sector to test on whether these two go on par with each other, which I for one agree with. I just don't see the need for comparison because as you and I have said, they serve different purposes.
1567  Economy / Gambling discussion / Re: Unpopular Sports Leagues discussion, predictions and outcomes. on: October 23, 2021, 03:42:24 PM
Philippines is increasingly showing interest in eSports after their major win against the topdog OG in TI6. In a country where basketball gets all of the attention, this is a major win already for the eSports sector because it's so hard to get the Filipino's attention to any sports that is beside boxing and basketball. They even had a futbol team once called Philippine Azkals that suddenly got shelved because it doesn't get much praise as the basketball side of things does.
I've read about the history of being founded (SAFF), which consists of several members of the national football team in India, such as: Nepal, Pakistan, Sri Lanka and many others (SAFF) began to be known in the outside world in 2020 until now.

SAFF as I see many successful tournaments in the title every year, this is a good sign especially India and surrounding countries, what is interesting to me about SAFF is that they have a national team (Women), It's interesting for me to see the tournament which is held by SAFF every year, They have positive response from other countries football teams.

SAFF is almost the same as any other Football Federation I've seen such as: WAFF, EAFF, CAFA and AFC.
I'm not into football really but I appreciate the fact that more and more people are becoming aware of other sports, especially big leagues out there that isn't what is readily available on their television. Much praise is needed in other sectors of sports because some athletes rely on government funding and if the public doesn't care about them, just as much as what happened to the Philippines once again, the government will allocate the funding instead to sports and athletes who get more exposure from the public.
1568  Bitcoin / Bitcoin Discussion / Re: Advice: 1 BTC on: October 23, 2021, 02:33:22 PM
I'd take Shaq's spending advice when deciding on how to divvy your 1 btc which is approximately 66k last time I checked. He said that whatever you earn, save 50/invest 50% of it in something that will secure your wealth or give you ROI, and then divide the remaining 50% into 2, saving the other for retirement, while the remaining 25% of your whole profit could be spent on whatever you want. Obviously this will only work if you can rake in big money like he does so I guess earning 1 btc should still allow you to do this.
This might be more personal as well confidential to we all, but if you're to share your thoughts or advice one on how to spend he's/her 1btc what would that be ?
Estate management ?
More in Bitcoin ?
Investment in the Stock market ?
Maybe your ideas might or will be helpful.
there are not many financial advisors on this forum, but you need to seek financial advice for yourself, you don't have to ask everyone here and worry that your finances will be messed up, I only suggest that your finances are properly managed so find your personal financial advisor
yeah. Properly seeking professional advice should work too. It's not like there's no valuable suggestions and strategies in this forum, it's more on the professional side of things, and having someone who would follow through your progress as time passes by. Hiring a personal financial assistant does not come cheap tho, and from where I live, includes some form of contracts and benefits as well as responsibilities that both you and the financial advisor should follow, like insurance and stuff. Then again, it's OP's personal choice at the end of the day.
1569  Bitcoin / Bitcoin Discussion / Re: Bitcoin Price vs Iphone Price at launch on: October 23, 2021, 01:58:23 PM
Such comparison in the past was made to either put into table the loss of purchasing power of some of the top Fiat in the industry or to just signify the ever-increasing price of something as a result of technological advancement. As in the case for bitcoin, one can derive from the comparison that it exponentially grew in terms of purchasing power that not even the high price of iPhones in the past decade could catch up with it. Besides, one is an ever-appreciating asset that could grow even more in the years to come while the other is a depreciating piece of tech that goes outdated every year.
In the past, such tables were made to show the loss of purchasing power of fiat currencies, like you can see here:

Visualizing the Purchasing Power of the Dollar Over the Last Century
That graph does not factor interest one would expect to have on the $100 it measures. It is very uncommon for someone to keep all their money in a mattress. Bank interest rates are low today, but they have been closer to the inflation rate in the past, and in some cases, exceeded the inflation rate.


It is no secret that the price of bitcoin has gone up. This has not been caused by purchasing power inflation of fiat currencies. The price has increased because more people have seen the value in using bitcoin, and are willing to put their money where their mouth is.
It is important to make this distinction as some people in this forum suggests that the only reason bitcoin is increasing in value almost every year is because of the fact that the dollar depreciates in value as well. I mean if that's the case then we shouldn't be getting exponential all-time-highs like the ones we've had in the past three to four years and should only be getting minimal since the inflation of dollar seemed a bit minimal as well. I'm no economist so if I am incorrect about my argument I would appreciate if someone explains it to me better.
1570  Bitcoin / Bitcoin Discussion / Re: PoW vs PoS on: October 23, 2021, 12:38:59 PM
Proof of Stake works in a different manner than Proof of Work. Yes it is a much efficient energy-wise and a much faster system for large-scale cryptocurrencies like bitcoin, but it would also require the consensus of multiple computation systems that will be unified under one single server. If everyone would be willing to chip in some of their computational power and unify it through the cloud, then proof of stake would work. Proof Of Work eliminates the middle man by allocating a dedicated computational system where transactions will be facilitated, this is of course only applicable for small forms of cryptocurrency with little potential for scalability.

Bitcoin is PoW, it is in the whitepaper. However, if everybody agrees, yes bitcoin may switch to PoS as well but I don't think it is going to happen. Some people say PoS is not as safe as PoW and we still don't know if this is right. Eth and cardano doing well so far. So maybe, the hesitations might be baseless.

Bitcoin too is doing fine with PoW, it ensures security and robustness of BTC blockchain. The issue of too much power consumption by bitcoin is as old as hills and IMO its just over hyped. Eth has not switched over to PoS yet as,
Altair, Ethereum 2.0’s first hard fork, is expected to come into effect by the end of the month —  the point where the original proof-of-work Ethereum blockchain will transition to Ethereum 2.0’s proof-of-stake consensus mechanism. Source

Whether its PoW or PoS, they both are same way of climbing the same mountain. As PoW is centralized along miners that can afford expensive mining equipment and electricity bills, in PoS those who can stake huge amount of coins will grab the major share of mining.
When the last bitcoin is mined/bought, it would be harder for everyone to facilitate transactions more so afford them because the system will be overloaded and as a countermeasure, will charge higher fees and would slow the process down for the rest in queue. The thing about POS is it ensures efficiency of service and the price of each transaction which in theory should work, especially for coins with high potentials for scalability like bitcoin and ethereum, with these two being the most common victims of the shortcomings POW has.
1571  Economy / Gambling discussion / Re: Gambling Book/Website Suggestions ? on: October 23, 2021, 11:11:04 AM
Your dad is exceptionally gifted with the ability to always research first before jumping to a new venture. Few people ever have this ability which down the line causes them to incur losses. As per books that will help him study how Blackjack works, I would suggest the World's Greatest Blackjack Book written by Lance Humble, and Blackjack Play Like a Pro written by John Bukofsky. These books are jam-packed with information on how to beat the dealer, what strategies work best for certain situations, and more. I'm sure he'll love these masterpieces because they are very easy to read too.
because I do not think that every strategy you get from the internet will always work for you.
Well, it is true that not all strategies that you see on every YouTube video about playing blackjack or others won't work at all times. Going with all of the videos will take your time.
I think choose those with a lot of views and good comments and you don't have to go through with each video that you see because it's a total waste of time and you might see just the same content and strategies.
What I would suggest your dad do is to analyse the most common situations and combinations of events that happen in each game, make a statistical report from it, and from there derive the most effective strategies he can use in order to counter such eventualities. Of course not every strategy works for the person and for the particular game you're playing but if you narrow it down to a common denominator, you can get positive information you are sure you can use in each game.
1572  Economy / Gambling discussion / Re: Issue of fixed Matches on: October 23, 2021, 10:04:19 AM
Fixed matches come in variety of ways and there's no definitive way to describe a fixed match other than the fact that it is a matched that is rigged to win one's side over the other even before the game starts. It violates the sportsmanship aspect of every sport which is why it is illegal to do so, but of course things like these happen still in some games. I believe the numbers your brother has been given are rigged numbers that he can bet on that would automatically win him the game. Not so sure however if this is some kind of score betting your brother is in though.
In my opinion, fixed matches can only happen in low leagues and some niche sporting events, such as boxing matches at the amateur level or very early stages of the career. I don't think anyone will risk fixing maches in major leagues or at international level events. That is why I only bet on large events and main leagues where the risk of such a situation is almost zero.
Some fixed games also happen in the big leagues. Any form of disadvantageous tactic a team or a facilitator makes to favor one team over the other is considered as a fixing anyway. Last time I watched MLB I saw someone being given a corked bat which is a big violation in baseball games because it gives the batter an unfair speed advantage over the pitcher. And as far as I know that is from a big league game so these fixed matches really exist in any type of game at any ranks.
1573  Economy / Speculation / Re: Crypto will rival or replace fiat in 10 years? on: October 21, 2021, 09:43:38 PM
Bitcoin could indeed come in par in terms of usability with fiat in due time, but to suppose that it could do so in as small a window as 10 years could be ambitious. Marketcap and all-time highs don't necessarily tell that an asset is suddenly becoming rampant across the world. there are certain parameters that you must meet along the way for something as big as what OP is saying to happen. Then again I'm positive that we'll get there at one point along this journey and once we do get there things will go hard for crypto.
76% of finance professionals believe that digital assets “will serve as a strong alternative to, or outright replacement for, fiat currencies in the next 5-10 years,” according to Deloitte’s annual global blockchain survey.

Is there any possibility that this could happen or this was just another speculation that is impossible to believe, but if we are going to look at the percentage of finance professionals that believe on the possible replacement of fiat with digital assets I think we are in 90% basis in favor of rival or replacement of fiat. Show me your comments about this news guys if you believe or not with this possible replacement?
I think it's possible that the survey will become a reality if crypto is to rival or replace fiat in the next five to ten years. Because in the future there will be changes in the way global finance looks at new businesses with digital assets and how it shapes the financial infrastructure to create future economic growth. In fact, El Salvador made history, being the first country globally to make Bitcoin its official fiat currency. Therefore, it is possible that many other countries will follow in El Salvador's footsteps in the future.
If we are to assume that technology will progress exponentially just like how it is going so far, I think it will at least be possible within our lifetimes, to make such massive claim without proper backing other than the fact that some countries are already doing it could only disappoint us when things go south in the future, so let's take into account everything, even the ones that may sound undesirable for us, to make us prepared for what's about to come. That's basically what I have to say about this. I love crypto as much as the next guy, but sometimes a little bit of realism doesn't hurt.
1574  Economy / Economics / Re: Is budgeting still effective in tackling the need to constantly withdraw money? on: October 21, 2021, 07:32:43 PM
At some level it would still work to budget money even if you need to constantly get funds for everyday activities. However once you reach a certain threshold there is a tradeoff that must be made in order to effectively budget your money. I myself lived a vagrant's lifestyle for a couple of months while I was working on a menial position job just to be able to budget money for myself and for my savings. I know it is somethign that everyone may not be able to do but it's just the way it is.
I found that the more difficult I make it to "convert" my bitcoins to Fiat.... the less I want to do it. So the way I do it is the following. I divide my bitcoins into for example 0.1 btc chucks and then I transfer that to paper wallets. To get my hands on those coins... I first have to "sweep" the paper wallet and then transfer the coins to an exchange to get the Fiat currency.

If the coins was in my desktop or hardware wallet... it would simply mean that I had to transfer it to an exchange and then sell it for Fiat. The paper wallets are also more secure than the desktop and hardware wallets.  Wink
I have found something similar, if we want to stop ourselves from selling our coins then we need to create an habit of making this hard for ourselves, it seems that it does not make sense as everyone wants to have complete access to their money in this day and age, but this is also why almost no one has savings now, it is so easy to spend our money in stuff that we want that we do not develop any kind of self-control and at the end people spend their fiat or their bitcoin and then find themselves with no savings after years of work.

Self-control is important, but when we open a savings account with a bank, it is a fairly difficult or lengthy process to get our money back. This is one of their security measures or methods to prevent you from easily accessing your money because it is your savings. However, having self-control allows us to save a lot of money. The problem is that when we really need the money, we don't have a choice but to sell it.
I would agree. You need enormous amounts of self-control in order to effectively manage your expenses and your savings. This comes before the budgeting phase because if you don't master self-control you'd just end up spending what you should've been saving up or investing. I know this because I was a repeat offender of these types of misdeeds in budgeting in the past until I made my mind and adjusted my budgeting process. Still regretful up to this day for these mistakes but happy that I was able to get out of that unhealthy lifestyle as early as possible.
1575  Economy / Economics / Re: Will circular economy work ? on: October 21, 2021, 05:48:49 PM
It definitely is possible and would work if everyone from the production up to the executive sector of things are responsible and willing enough to put in the extra effort of implementing such policies. I have seen structures and models that suppose circular economy would work but all of it included utter cooperation from each of the sector and would have little to no room for slacking off. Unfortunately this also means higher product cost but I would personally be willing to pay extra if such processes result into us securing a safer future for our children.
Well, I think we're already somewhat using that kind of system around the mord, if I recall, Japan has their sinks near the toilets so they're able to recycle the water from the sinks to be used for flushing their toilets which saves them billions of money a year for water treatment, and water consumption. It's difficult to do recycling at every level of a product, some stops at the first level and then it's a total waste.
These are just micro circular economies but nonetheless show that it will definitely work if everyone within the system of production and consumption cooperated. Japan is blessed enough to have traditions based on discipline and honor which made it easier for such policies other countries would think of as strict to be implemented with little to no issue or outcry from the public. Total Recycling is also an issue because only a very small percentage of our wastes gets recycled so unless we do something about that, it wouldn't work for the rest of the planet
1576  Economy / Economics / Re: Facebook Diem on the run for launch on: October 21, 2021, 08:36:10 AM
i see this as being the primary currency used within Facebook's site along with Instagram for activities that can be monetized like live donations and promotions. Pretty simple use-case but for a site as big as Facebook this will definitely come in handy for them. What I am against about this however is the fact that it is centralized and is probably governed by Zuck himself. I don't think it really follows the freedom approach that Facebook has been advertising since its conception but then again I understand why they are to centralize this technology and not open source it for everyone.
We've been hearing that Zuckerberg is gearing up to launch the Libra / Diem stablecoin for several years now. It would be much better if he actually did something already. We also remember what difficulties were previously with the launch of this stablecoin. Regulators have strongly opposed the Facebook and stablecoin merger due to the private concentration of significant confidential information on 5-6 billion people. The finance ministers of the European Union countries stated that they would not allow such a stablecoin to circulate on their territory. At a meeting of the US Congress, Zuckerberg promised that this stablecoin would have nothing to do with Facebook. What has changed now? In my opinion, nothing.
I don't even know if this is something that will come out sooner because it's not advertised or even discussed within the platform where it is supposed to be catered towards. I'm not saying he's making us wait for nothing because I am not waiting in any way for this coin to arrive lmao. Just that there has been no direct statement from anyone within that site stating that Zuck or at least Facebook is creating a cryptocurrency that is meant for use within that site itself, with some outer activity use-cases.
1577  Economy / Economics / Re: Just because prices are high, doesn't mean that is a good investment. on: October 17, 2021, 08:50:04 PM
I think that's one of the most common mistakes people make when they first get into crypto. They see an asset, they assume it was good because it was pumping like crazy, invest hundreds of dollars, some even putting their life savings on the line, and then at the end of the day fill the r/suicide section of reddit when the asset drops so low. People gotta understand that despite the fact that price determines a lot, you have to also understand that it only determines the current implications and conditions of the asset itself, never what it could be in the future. That is to be decided by its use-case and utilization.
There are too many people who buy when it is going up and sell when it is going down. That is a bit of a problem in the crypto world, I do not know how we can fix it but I believe that it is certainly something that would be a bit weird if you consider what we are doing right now. I mean if we buy when it is going down and sell when it is going up then we are making a profit and that is how trading is done, that is exactly what we should be doing.

However, if we are making a loss right at when we should be making a profit because we are doing exactly the opposite then I am not going to be really sure how to help these people out neither.
That's just something we would have to live with for the rest of our lives I think. A rookie mistake will always happen on rookies no matter what. So what can we do as experienced investors and cryptocurrency enthusiasts you ask? Well easy. Invest more and don't be stingy with the information we gather. Remember that the community's success is our own success so as an individual not only should you think of yourself when you speculate and study an asset, you also want to think about the people whom you would let know of what the asset is and its pros and cons, from there allow them to make an educated decision for themselves.
1578  Bitcoin / Bitcoin Discussion / Re: Cryptocurrency is important for a country? or not... on: October 17, 2021, 08:25:50 PM
It does nothing. The growth of a certain country is heavily reliant on the number of resources it has and it was able to utilize, the amount of graft and corruption in its government, and its education system. With all these three met, expect that a country is to be considered developed. In the case of bitcoin, or even any cryptocurrency for that matter, I don't see it being a direct assistance in any of these sectors to better a country's growth and development. So individually speaking bitcoin could do wonders for people, but you can't expect cryptocurrencies to help a country out of the mire it is in.
Rather yes than no. It is worthwhile to understand that now the volume of money in this industry is quite large, and if you create favorable conditions for work and impose adequate taxes, you can get excellent profits.
Profit is just one aspect to a multitude of sectors. Jobs are met if education and medicine system is taken care of. Profits and livelihood is achieved well when there's no corruption within the central government. I think you are only speaking for a certain individual which I would assume was yourself when you thought that a country investing in cryptocurrencies would help them develop more as a whole. In actuality I would call the leader who does this nuts because you can't just input the cumulated tax of the people for a gamble like cryptocurrency in the first place.
1579  Bitcoin / Bitcoin Discussion / Re: What Bitcoin stands to gain when the government prints more currencies on: October 17, 2021, 07:58:56 PM
There's nothing to gain from countries especially US trying to undermine its own currency system by printing more greenbacks. Bitcoin will preserve its value over time regardless if USD falls flat on its face tomorrow. Why? Because bitcoin has an ever-decreasing supply and a limited supply that you cannot add more to. Sure, price dumps makes it look bad and may even seem as if bitcoin's price undermines itself, but if you were to study bitcoin's trends ever since it was conceptualized and released to the public, it has only ever gone up.
The government just don't go ahead printing money as they want, there are stipulated protocols, agencies amd policies it entangled in, else printing excessive currency will cause a great eruption of economy instability, unemployment, inflation, decrease GDP, interest rate and affect the supply of money.

But for a successful balance between Government way of money print and the era of digital asset "bitcoin" we have a control system of the government fiat system called the "Monetary Authority" which ensure the adequacy of currency prints, control and effect the policy for central print. While Bitcoin on it own edge has the sacrifice of efforts required to mine it, else the richest country would have been the ones with the highest currency print. You can as well read further on Monetary Authority
Of course, but printing more money would still put a dent to the value of the currency especially if there are still a lot of it in circulation. Inflation can only be regulated, but never completely removed from the system in the case for fiat currencies like the USD. This doesn't happen to bitcoin and other cryptocurrencies no matter how we argue because it is already programmed to be limited, which puts the usability in jeopardy but in the long run preserves the wealth of those who were able to secure theirs.
1580  Economy / Economics / Re: Elon musk now the richest man in earth on: October 17, 2021, 07:41:24 PM
I'm interested less of what he is worth but of what he is capable of and is willing to provide for the future of humanity. So far he's good on my book, spearheading the species to its first interplanetary exploration and habitation, remodeling rockets to be cost efficient and safer than our conventional ones that are basically like airplanes strapped with bombs, plus the fact that he is at least showing respect and support for cryptocurrencies he deems will be the future of money. His actions may perplex many but as long as they serve the greater good, I'm okay with him.
This man is a phenomenon, he's a true businessman, whether you like it or not. It's surprising that he reached the top within a few years, surpassing the wealthiest of all. He used to be involved in the most renowned companies, such as PayPal, in which he was a co-founder. I know that he has pissed the crypto community off, but this man is a true genius.

It's literally taken him his whole life to get as rich as he is, what are you talking about with "a few years."  People who build world-changing companies are often billionaires.  That's how capitalism works.  It's been this way since the Rockefellers and Vanderbilts and Morgans of the world first amassed huge fortunes for building such world-changing companies, and it continues today with the Gates and Buffets and Musks of the world.  But none of it was done "in a few years."  It took all of them literally their whole lives to get as rich as they did.
He wasn't always that famous, I never implied that what he has achieved was accomplished within a few years. He was always a phenomenal businessman, but he became renowned in the last few years, I'd say a good two decades, with the creation of Tesla, SpaceX, while he was also a co-founder of PayPal. I never meant to imply what you said, maybe I didn't phrase it correctly, I just meant that he wasn't always that known.
I'd say Paypal allowed him to be noticed by the people, and then SpaceX along with his goofy tweets and that flamethrower he sold to people really brought him to the spotlight. He also founded the Boring Company which revolutionizes construction as we know it so even when the guy is goofing off, he at least does something that will benefit the people in one way or another. People may have bad takes against him due to him rescinding his investments in crypto, but I have gone past that and looked to what he has been able to do for our species thus far.
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