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Showing 20 of 21 results by Hagrigton
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Board Economics
Re: why the state does not print a lot of money?
by
Hagrigton
on 23/08/2018, 05:56:50 UTC
Quote from: dat.ho12492 on August 22, 2018, 02:33:30 PM
Quote from: yatogami on August 22, 2018, 01:34:15 PM
Quote from: EVOS on April 30, 2018, 07:33:30 AM
why the state does not print a lot of money? than debt to other countries. is not it easier to make money than debt and ultimately burdens the state?

whether if printing money will have an impact on the money itself? or will it impact the value of the money in the eyes of the world?
Ideally, money should be supported by gold reserve and gross domestic product of the country. If there is too much printed money their value goes down, and inflation starts - and that can lead to collapse of the economy.
The collapse of an economy is very unlikely when the government takes measures to maintain the economy, the problem here is the devaluation of the currency, it will limit a lot of activities in different fields, we will lose credibility and reliable partners. Then the country will depend on other countries, the consequences are unthinkable, so the government often borrows, instead of printing extra money

The debt-fueled economy that we have now does not necessarily need to maintained by a gold reserve. It does, however, need support by a strong GDP in order to grow or else it enters stagflation--stagnation of growth and inflation of prices. This is what happens if the government tries to print money too quickly. Prices increase but wages do not. That can most certainly result in a crisis, like Venezuela is experiencing.

That's where the IMF steps in to "rescue", or in other words, financially rape the country for all it's worth. Privatization of everything possible means multinational firms can reap the benefits of that country. 
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Topic
Board Marketplace
Re: Cryptocurrency market to suffer from strong correction
by
Hagrigton
on 22/08/2018, 07:29:59 UTC
Quote from: entrepmind23 on August 22, 2018, 12:02:33 AM
Quote from: bitbunnny on August 18, 2018, 05:53:18 PM
At the moment it looks like the strong downfall has stopped but that still doesn't mean that corrections are over.
Just at the first glance it looks that market is more stable now but this can change any time so it would be wise to use to buy more coins. The correction will not last forever so be prepared when the price start to rise again.

And as what the article stated, those coins that would be able to survive the recent bear market that we are experiencing is just one proof that it was able to withstand this kind of market situation and make the investors trust more the project and then it would become more valuable. We have yet to see what coins will survive the purge as it will prove if they are really worth to be included in the cryptocurrency market or not.

Quote from: Rainbow009 on August 19, 2018, 08:37:13 PM
The cryptocurrency system is still very new and fragile.
It would have to go through a lot of adaptations and corrections, in order for people to get a better knowledge of it and how to properly integrate it I to the system.

There would always be coins that would rise a couple of times and then there would be those who would lose the trust of people and then eventually lose its value slowly. Just observing how much the coins have lost its value for this year compared to last year will give us an idea of how people trust the project.

I think it's a good thing actually that we are cleaning out all the trash from the bottom of the pool. The crypto market shot up extremely fast, and when these things happen, it attracts all sorts of unruly folks who are just out there to scam and swindle. We want crypto to be legit, not full of shitcoins that are Ponzi schemes to trick people out of their money. Let only the strong survive.

Bitcoin will always last, that much is clear. It is the only one that has a strong enough principle that is not vulnerable to mass manipulations. Sure, we can see price swings timed by exchanges, but that can happen with every asset. Bitcoin cannot be centralized, it stands on its own.
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Topic
Board Marketplace
Re: Who benefits more from Blockchain Recruiting without middlemen?
by
Hagrigton
on 20/08/2018, 22:07:17 UTC
Quote from: Edudeps on August 03, 2018, 02:36:07 PM
Who benefits more from Blockchain Recruiting without middlemen: job seekers or employers?
Blockchain rapidly develops and updates many spheres of human life, and recruiting is not an exception. I analyzed many projects and their products, but not all of them are unambiguously clear, and it's not always clear whether someone will use this product/service at all.
But will employers do this themselves, or will they work through HR and other recruiting agencies?
Will blockchain be able to incentivize employers to work without middlemen and without overpaying third-party recruiters to find employees?
Will this trend of transfering online recruiting process to blockchain work at all?

The only problem I can foresee is reliability of candidates/employers. Some may not take it seriously and just see it as an opportunity to take advantage of a worker/job in another way. This would lead to payment problems, unreliability, and a lack of dedication to work.

It's good in principle but there needs to be more in terms of validation and accountability of both sides. Either one could ditch the other quite quickly if something else came up that is of greater value to them. That's why many still prefer traditional channels of recruiting.
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Topic
Board Economics
Re: Gold-backed crypto replaces US dollar
by
Hagrigton
on 15/08/2018, 14:34:01 UTC
Quote from: BCSHonda on August 07, 2018, 08:05:57 AM
Quote from: LeGaulois on August 06, 2018, 06:45:41 PM
If it's backed by gold, what about the certificate and the storage (and the cost to store in the vault). It's going to make a centralized currency, ...again... it doesn't look something easy to create. Also just to remind you, the us dollar was backed by gold until 30 or 40 years ago
All the conjectures here are just conjectures given there is nothing to verify them. It's just to express the discussion for the story. What's the property like? What is the value of money? All of them, with the effort of the future, can prove them. In fact, it is still necessary to use gold as a decorative item, while currency (usd) for economic circulation, and electronic money for the technological age. Each asset has its own features and needs more time to make decisions for them. I think so.

This is just what we like to do. Speculate, make conjectures, and wonder about strange things that we have no idea about. Sometimes they may come true, if we can make the connections ahead of time.

The wonder of crypto lies in it's immature nature. It is still a naive asset that is trying to establish itself in the market and no one really knows how to treat it. There are still arguments going on whether it's a currency or asset or whatever. This means that it still hasn't settled, and it has great potential because of that.
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Topic
Board Bitcoin Discussion
Re: What is best wallet for long term bitcoin holding?
by
Hagrigton
on 12/08/2018, 15:36:22 UTC
What about Armory? Has anyone tried it? I tried downloading it and installing it but it won't open on my mac. It just crashes every time I try to open it.

If I'm not mistaken, it's probably smarter to keep this installed on an external disk that doesn't have a regular connection to the internet, isn't it? That way it's not vulnerable to hacks and fraud.

But with the paper wallet, this wouldn't be a concern. Only holding onto your original keys.
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Topic
Board Exchanges
Re: Poloniex deceive its users?
by
Hagrigton
on 11/08/2018, 09:02:32 UTC
I've heard similar stories with Poloniex actually and hope yours doesn't turn messy. They seem to just freeze accounts arbitrarily and don't communcate well with the users once they've frozen it. You don't seem to have done anything suspicious, but like said above, it could be just because of an association with a suspicious account. Just being connected with one is enough to be blamed, so it's probably not a good idea to keep a large balance in the same account that does transactions. A better solution is to keep the majority in an offline wallet and then transact as necessary with the rest though an exchange.
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Board Marketplace
Re: I SOLD ALL MY BITCOINS
by
Hagrigton
on 09/08/2018, 14:37:35 UTC
Hindsight is 20/20. No one ever knows when to sell until it's too late. How could we have known in August last year that the coin would reach nearly 20k? At that point, everyone probably thought it could only get to 10k at the most. But here we are, a year later and the price is on its way back down to similar levels (but hopefully not all the way back to the 3k area).

I remember the shock when it broke through 3k. Everyone thought bitcoin was doomed then. I was shouting sell at 6k. Then it more than tripled. No one could have known.
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Topic
Board Economics
Re: Gold-backed crypto replaces US dollar
by
Hagrigton
on 07/08/2018, 05:06:40 UTC
Quote from: magneto on August 06, 2018, 09:16:56 PM
There's a reason why several of these gold backed cryptos have already popped up and pretty much has done nothing major.

I think that the primary reason is that the value of a gold backed crypto comes solely from the fact that you trust the custodian of your metals to keep it safe and not just run with it. You also trust them to run a full reserve instead of a fractional reserve. By having a gold backed crypto you're also handing over control over the entire money supply to the founder of the blockchain, as he is able to constantly add new units to circulation.

Essentially, this is going to be no different to centralised stablecoins like Tether, except with gold. I don't see how this not so trustless system is any better than bitcoin itself.

It may not sound like a more trustable system than what we've already got with bitcoin, but that's not going to stop a major financial power from trying to implement it. The Chinese have been buying up assets from Vancouver to Cape Town in an effort to show their "soft power" or financial dominance around the world. This Yuan-sponsored-gold-backed-crypto would be more of an excuse by them to step in and try to replace Bitcoin. Not that it would be a good idea for us.

And regarding the debt, another thing that is often missed is the GDP figures. 18.57 trillion GDP is not that far off from 20 trillion in debt.
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Topic
Board Economics
Gold-backed crypto replaces US dollar
by
Hagrigton
on 05/08/2018, 10:48:58 UTC
We all know that the US dollar is swimming in 20 trillion dollars of debt, which doesn't bode well for the future of the world economy because it depends on that currency as a reserve requirement. Everybody is predicting the crash of the USD but no one has any idea how, when, or what the alternative will be.

Here's a pretty far-out idea:

https://www.theautomaticearth.com/2018/08/gold-yuan-crypto/

A gold-backed currency guaranteed by blockchain. This would prevent something like the fractional reserve system from occuring again where banks lend out 90% more than what they physically have. Sounds feasible?
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Topic
Board Speculation (Altcoins)
Re: is there a possibility that Ethereum will reach $200 this year?
by
Hagrigton
on 04/08/2018, 11:23:53 UTC
Quote from: jzale on August 04, 2018, 11:11:25 AM
The trend since the peak on 2017 is going down. There were few bumps and ups but still it is a down trend. This month the lowest price of ETH was around 400$ and now having a resistance not to go below 400$. Consider the trend of the whole cryptocurrency market. Bitcoin's price goes down and most of the other coins goes with it. Bitcoin has fallen down again since it reached the 8000$+ mark. If Bitcoin will fall down deeper around 3000-4000$ then we can expect the price of ETH around 200$ too. Also the people are more focused on Bitcoin, the attention falls off even though there will be a significant update to ETH.

That 400 mark is where I'm going to lose all faith in ETH. It's been bouncing off it a bit and might even break through. If it does, I wouldn't be surprised to see 300 next. There doesn't seem to be anything breaking its downtrend. It's just bumping down in a sad and miserable way, with nothing to hold it up.

What happened with all of the coins the developers were pumping back in? That's probably one of the reasons it's devaluing. And also because it doesn't have much of a future without a faster transaction speed.
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Topic
Board Speculation (Altcoins)
Re: Is BCH an effective investment option in the long run?
by
Hagrigton
on 03/08/2018, 10:51:37 UTC
Quote from: gabmen on July 26, 2018, 01:06:22 PM
Quote from: BitcoinHodler on July 26, 2018, 12:09:43 PM
Quote from: terrific on July 26, 2018, 11:24:39 AM
BCH is a centralized coin like Ripple so this ain't a good investment in the long run.
If you will hold this coin for long term, you'll be broke because its either Jihan Wu will dump this coin.
Or Roger Ver will dump as well when they are ready to forget about this coin.

it is true about BCH but Ripple situation is 100 times worse than this. because it is not only centralized and they can control everything including your balance but also the total supply is 100 billion while only they have released about 40 billion of it.
in other words there is still 60 billion XRP unaccounted for which they keep releasing each time they pump it so that they can make a huge chunk of money.

Well bitcoin cash is still considered as one of the top coins in the market though i kind of agree with you there. Calling bch as the real bitcoin won't hook that much support from people in the crypto community, well aside from ver diehards that is.

I didn't know it was that bad with Ripple! I was thinking of taking a few coins just for a short term flip but that could be a bit risky if they can just dump a whole bunch of coins into the market at anytime they please. But if it's already so low right now, that would probably be against their own self-interests, wouldn't it? They'd probably want to allow it to come up a bit before dumping it again.

BCH doesn't bode well with me either mostly because of the fork and centralized nature of it. Forks are usually not very good signs in my eyes. It can be a sign of weakness and discord among the team.
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Board Beginners & Help
Re: Can you help me make $money$ ? ::)
by
Hagrigton
on 31/07/2018, 11:26:44 UTC
Find something that you're good at, and keep doing it! Make your service or product available on the internet so people can find it. They won't find you immediately because the internet is a big place, but if you make something really good, they will come. There's too much junk on the internet these days. That's why you should care about what you do and do it well.

Don't look to us for good ideas. Only you know what the best way to make money is. Start with altcoins if that is what you know, and then use them to do something you are good at.
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Topic
Board Speculation (Altcoins)
Re: Why hold ethereum
by
Hagrigton
on 30/07/2018, 11:15:09 UTC
ETH has an uncertain future because of scaling issues. It's just not practical at this stage. Apparently most investors in it have no idea about the technical side behind it as discussed in this article:

https://www.forbes.com/sites/jeffkauflin/2018/07/25/why-major-cryptocurrency-investors-are-betting-heavily-against-ethereum/

ETH seems to be runner up in the race as bitcoin storms ahead. If that's because of it's potential, then it will have to do something concrete soon before all the speculative money dries up. Speculative money tries to frontrun reality, but sometimes it gets too far ahead of itself (as we've seen with many other coins). That can cause the coin to trip and fall.
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Topic
Board Speculation
Re: Has Bitcoin reached its goal?
by
Hagrigton
on 29/07/2018, 10:56:57 UTC
I'm not sure that I could say that bitcoin has achieved any goal so far. It's still quite young in it's development and has much more to do before we can say that it is a legitimate currency. It's not being accepted by people around the world in the same way that other currencies are. It hasn't been integrated into many aspects of society. It functions as a way to transfer money from point A to point B, but that's about it. It's also a secure way (if used properly) to save up money and gain value over time. But it cannot pay your electric bills, buy your clothes from Amazon, or pay for your food at the restaurant. It isn't fast enough yet.

And where does this 250k by 2022 figure come from?
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Topic
Board Bitcoin Discussion
Re: What is best wallet for long term bitcoin holding?
by
Hagrigton
on 28/07/2018, 12:06:11 UTC
Quote from: rudox on July 23, 2018, 07:03:27 PM
You can have a look at Bittrex here www.bittrex.com and Binance here www.binance.com I like their security level for  both of them there are so good with further security measure of 2FA which will send some signal to your personal smartphone  before any access will be granted to your wallet with either of them.

Yeah they are quite secure, but I saw somewhere else on the forum (I can't remember where exactly) that someone was testing the security flaws of exchanges like theirs. They found quite a few holes.

Most exchanges have some kind of 2FA feature now and it is a good feature, but I believe there are still backdoors in. Not necessarily to your specific account, but to the exchange itself. A hacker who gets in through another way can then get into any of the accounts quite easily. Although I would assume that because they are such large profile exchanges, they'd have someone on fraud alert 24/7 like other major payment gateways do.
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Topic
Board Economics
Re: why the state does not print a lot of money?
by
Hagrigton
on 27/07/2018, 08:58:06 UTC
They do. It's called "Quantitative Easing" or "Liquidity Injections". The EU has been doing this for the past few years in hopes of getting inflation above 0. When the state prints money, things get more expensive. That carton of milk that used to be 1.50 euro is now 1.75 euro. More money in circulation means it's less valuable.

The idea behind limiting bitcoin was to prevent it becoming a victim of inflation, like other commodities. But banks has a solution to that. It's called "Futures contracts". They allow huge speculators to bet their hyperinflated currency against a commodity, and it loses value. If bitcoin can be centrally regulated, this will happen.
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Board Marketplace
Re: I SOLD ALL MY BITCOINS
by
Hagrigton
on 26/07/2018, 07:09:32 UTC
Good story, thanks for sharing. People should take this into consideration, not just for bitcoin but for any kind of investment they make. Sorry it ended up so much trouble for you, but I'm glad you found your way out. The temptation is so high when it starts skyrocketing to just jump on full blast and giver all you've got, but it's important to check yourself and ask, is this really rational?

A good strategy is to keep the majority of your net worth untouched, where you cannot risk it. Then use the remaining small amount as you please. Fire away and jump into whatever you see as worth investing in. That way if there is a loss, it's not crippling.
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Topic
Board Speculation (Altcoins)
Re: Your reaction to recent pump and then dump
by
Hagrigton
on 25/07/2018, 14:07:27 UTC
Quote from: coinwizard_ on July 25, 2018, 01:45:19 PM
This is a pump and dump market now, it rallies then dumps, same whale strategy all over again. The slow trend is upwards so expect ethereum to go past $500 soon

I've been watching that one too. It's been on a slow decline that doesn't seem like it has much energy left. That's what BTC looked like about a week ago before it bounced up.

Ethereum seems like it's waiting for a reason to kick upwards. Who knows what that might be, but it's worth holding onto for a while from what I see. There looks like there's some divergence and the momentum is building up... but it's hard to say how far it can go.
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Board Bitcoin Discussion
Re: What is best wallet for long term bitcoin holding?
by
Hagrigton
on 23/07/2018, 18:21:09 UTC
I agree about the poll, this would be interesting to see how many people keep their coins online.

Of course, keeping it cold is much more secure, but don't end up like that guy whose harddrive got thrown in the trash and he had to dig through a dumpster to try and recover $1 mil worth of coins... unsuccessfully. It's just like holding onto physical gold, it has to be taken care of.

Don't keep all your eggs in one basket, right? Some can be online, some can be offline. Keep 10% on a platform like Binance to trade aggressively, and be glad that 90% is somewhere safe and sound.
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Topic
Board Speculation (Altcoins)
Re: Your reaction to recent pump and then dump
by
Hagrigton
on 20/07/2018, 19:51:41 UTC
Yeah this doesn't look like it's bad news just yet. I too may have jumped on a bit too early, but I'm still holding on. The thing about these types of movements is they are never what you think until they happen when you're least prepared... haha! No one can predict the next movement, but we can certainly position ourselves for it, and not jump ship if it wasn't the one we were expecting. There's no reason for these coins to be going anywhere but up in the long run, and it seems to me that the time for short term speculative profits is over. Now it's more about riding the slow but steady wave up.