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Showing 20 of 556 results by fulcare
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Board Gambling discussion
Re: UEFA Champions League 2024/25 Season
by
fulcare
on 01/12/2024, 23:35:47 UTC
Are we talking about the odds that bookmakers provide or are we talking about our personal opinions? Considering how these two teams have been playing, if somebody asked me whether I put my money on Atalanta or on Real Madrid if I had to, I would without a doubt go with Atalanta. It is a home game in Bergamo for them, Real Madrid has to leave half their team at home because of injuries, Mbappe isn't performing and they are out of alternatives. No question for me, Atalanta is the slight favorite in this game.
Atalanta are not as strong as Liverpool, so I still think they will share the points with Real Madrid. I don’t mean to belittle Atalanta impressive record in the Champions League this season, and I don’t want to ignore the half-dozen injuries to Ancelotti key players, but I am trying to see Real Madrid as a team with a number of quality rotation options. Atalanta failed to score against Arsenal and Celtic, which is something to consider. Besides, Ancelotti is no stranger to the Serie A side, and he has plenty of experience of facing them. When Real Madrid are under pressure, they can almost always turn things around, especially in the Champions League.

This is what you would intuitively believe about Atalanta, but I remember it was the same when last season Bayer Leverkusen came with a perfect record to take on Atalanta in the Europa League final and I still know how nobody thought that Atalanta could have a chance against them. But it was quite the contrary and Atalanta made Bayer Leverkusen look very small instead and beat them with a clean sheet. The most stupid thing that Liverpool could ever do if they play against each other is to think the same of Atalanta as everyone did last season as I described. You can still lose although you are superior in the public opinion and with the shape that Atalanta now is in, they can beat every team in Europe.
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Topic
Board Gambling discussion
Re: UEFA Champions League 2024/25 Season
by
fulcare
on 30/11/2024, 20:58:22 UTC

No way that the game is a 50/50 game. Atalanta is the favorite in that game because Real Madrid is in shambles with all those injured players while Atalanta is going through a real hype. I think playing against them in their home stadium in Atalanta right now could be a huge problem for every team in the world. Not only Real Madrid, but I think Liverpool would have problems as well. They are in an outstanding condition and win their games with some much confidence that they won't fear Real Madrid for a second. And also, Real Madrid can't lose while Atalanta plays with much less pressure.

It’s definitely a 50/50 game with both teams looking to have almost 2.5 odds each, Real Madrid have been totally poor in a competition that is definitely bossed by them but it will be bad ruling them out early in any match. Even against Liverpool they weren’t actually too poor because they were creating chances but were just not converting it to goals which was what let them down plus the fact that the Liverpool were exceptional in the game just like they have been all season. This Atlanta game is a must win for Madrid just to stay in the playoffs position too. For me I am pitching for a Real Madrid win

Are we talking about the odds that bookmakers provide or are we talking about our personal opinions? Considering how these two teams have been playing, if somebody asked me whether I put my money on Atalanta or on Real Madrid if I had to, I would without a doubt go with Atalanta. It is a home game in Bergamo for them, Real Madrid has to leave half their team at home because of injuries, Mbappe isn't performing and they are out of alternatives. No question for me, Atalanta is the slight favorite in this game.
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Topic
Board Gambling discussion
Re: La Liga (Spanish League) Prediction Thread 2024/25
by
fulcare
on 30/11/2024, 20:53:24 UTC


Real Madrid is arguable a place to realize dreams and on the other hand in the same place have  so many talents wasted. Hazard was a good example. The case is the same with Mbappe presently, Mbappe is finding it difficult to settle down at Real Madrid, making people to question his value and doubting his ability to perform at the biggest stage. Mbappe is a world class player that have constantly showcased his class for France and for his former club PSG. In as much as people are expecting mbappe to hit the ground and get things moving at Real Madrid, the fans should give him time to settle down in Madrid soon.

Man are you serious about talking that nonsense? Mbappe has been there for about 3.5 months now and you describe his situation as if he was sitting on the bench every game because Ancelotti wants to get rid of him. He is not in great shape, which I agree with, but that has nothing to do with a wasted talent at this point. That is ridiculous.

Then talking about Hazard, he had severe, really bad injuries all the time and missed almost all the games there. There is nothing anyone can do about that. There have been players that are extremely susceptible to injuries and nobody can find a proper solution for it.

A really example is Gareth Bale. He was healthy and yet he was willing to sit on the bench, waste his talent, play golf and take the salary. That was a real waste as you mentioned it here, but you took the wrong players to convey your point.
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Topic
Board Gambling discussion
Re: La Liga (Spanish League) Prediction Thread 2024/25
by
fulcare
on 29/11/2024, 21:44:31 UTC
So far, the chances of winning the La Liga title are equal for both Barcelona and Real Madrid. If Real Madrid can win their next match, they will be only 1 point behind Barcelona. Reducing the gap by just 1 point is not a very difficult task. Barcelona has fallen behind in the competition due to losing points in the last two matches. And if Barcelona cannot perform well in the upcoming matches, then Real Madrid will soon occupy the top spot of the table.

Real Madrid's performance has also been erratic this season. However, in La Liga, Real Madrid has only lost one match against Barcelona. On the other hand, Barcelona has lost against teams like Osasuna and Real Sociedad. Although Barcelona's performance is strong, this team's performance is also erratic now.

They are not equal, Barcelona has taken on the status of being the favorite after everyone thought that Real Madrid would dominate La Liga from day 1 because of Mbappe, but quite the opposite happened and Barcelona is the team that plays the best football and has the most exciting players like Yamal. There was one clasico and it spoke volumes. Barcelona took down Real Madrid like a school class in the Bernabeu stadium...
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Board Gambling discussion
Re: UEFA Champions League 2024/25 Season
by
fulcare
on 29/11/2024, 21:42:39 UTC
It is a 50/50 probability in this game for Real Madrid, based on my analysis, because Atalanta, on the other side, has a good performance also, and we can’t dispute that fact, although we all know that Real Madrid needs to have enough points so that they can make it to the round of 16 in the season, so for me I can’t have that much hope in Real Madrid to win that game. It will either be a win or a loss for them, but at least I am sure they will try their best not to lose against Atalanta, so all I can say is let's wait and see how the game will be because it is not easy for you to have a good prediction on Real Madrid now.

No way that the game is a 50/50 game. Atalanta is the favorite in that game because Real Madrid is in shambles with all those injured players while Atalanta is going through a real hype. I think playing against them in their home stadium in Atalanta right now could be a huge problem for every team in the world. Not only Real Madrid, but I think Liverpool would have problems as well. They are in an outstanding condition and win their games with some much confidence that they won't fear Real Madrid for a second. And also, Real Madrid can't lose while Atalanta plays with much less pressure.
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Board Bounties (Altcoins)
Re: 20Bet Casino & Sportsbook | $2 Sign-Up Promo Code: BITCOINTALK | Sig Camp.R1
by
fulcare
on 19/11/2024, 18:08:57 UTC
Username: fulcare
Bsc Wallet Address: 0xA446A777F46927f5a698119e3e500119EB6A304e
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Topic
Board Speculation
Re: Whose the fallen prices of Bitcoin affect the most
by
fulcare
on 12/11/2024, 13:20:31 UTC
Now i still want know when the bitcoin price falls, who are those the fallen prices directly or indirectly affect the most?
Those that panicked and sell their coins immediately are the people that are affected. People that continue to hold their coins will still see the price of bitcoin go up and get to ATH just as it has been in the past.

But they are not the ones that are affected the most. Those people that bought altcoins at a wrong price and the price started to fall. As bitcoin price fall, the altcoins prices will continue to fall which can significantly make the holders of the altcoins lose so much. What is more disappointing is that the altcoins may not increase up to ATH again.

This is an important point to mention as altcoins often times don't lose much, but they lose it all. They are dead in the most cases. Bitcoin has been a psychological challenge several times I admit, but knowing that it is not hot air like those altcoins, there has always been confidence that it can and will go up again. The Bitcoin is dead headlines are countless, but that doesn't make it become true and I noticed it has been a while that someone dared to post such a headline.
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Topic
Board Speculation
Re: BTC will go back to $30k if Kamala wins
by
fulcare
on 12/11/2024, 01:35:44 UTC
I predict BTC will go down as low as $30k if Kamala Harris wins the US presidential race. Some would say BTC will rise regardless of whoever wins in November. But this time is different. Especially when the world considers Trump a favorable US president for the crypto industry. His remarks about freeing Ross and firing Gary Gensler are extremely-bullish for BTC. Losing the presidential race (which I seriously doubt) will be a huge letdown for crypto industry proponents. Right now, BTC "pumped" all the way to $68k in anticipation of this year's elections. But the hype could fade away if Kamala miraculously wins.

What do you think will happen with Bitcoin's price after the US elections? Will either candidate's win have a direct effect over Bitcoin's market price? Your input will be greatly appreciated. Thank you very much. Smiley

Too bad we will now never find out based on real data whether your prediction was nonsense or not. But your prediction hasn't been very convincing anyway. I don't see how the election of Kamala Harris would have wiped out 60% of Bitcoin's market capitalization... China tried to ban it, nothing happened, Biden is the president that is nowhere to be seen and nothing happened even when he said he would prefer a more tougher stance against Bitcoin. Now you conclude that the election of Kamala Harris would have wiped out 60% of its value. What's the logic behind that?
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Topic
Board Speculation
Re: Bitcoin Prediction 2024 - 2025
by
fulcare
on 26/10/2024, 16:08:49 UTC


A WSJ report on a US probe into Tether triggered Bitcoin prices to dump. But, after Tether CEO denies WSJ's report, the price is slowly recovering. And imagine if WSJ's report were true, the bullish trend may be delayed for the next year.

That's why i don't have a very high expectation for BTC to break a very high price coz there will always be a pullback. Surpassing 70k, then steadily trading between 70k - 80k range is good enough.

There is a rumor about Tether every year and it has become so boring that I think people don't believe it anymore. But surprisingly, after the Fud was announced, the bitcoin price still dropped to $65,500 and quickly recovered afterward. This makes me think that the market is more manipulated than we think.

What makes me less optimistic is the uncertainty about the world situation. Hours after the Tether news, news of Israel's retaliation against Iran further roiled the market and caused even greater concern. With what is going on, I am not really optimistic about bitcoin's strong growth this year, things will get worse if the war becomes more fierce.

If we expect a bull run for bitcoin this year, the only hope we can hope for is the US election. If Trump wins, I think that will make the market forget about the war for a while.

It is beyond doubt manipulated, but I think that manipulation maybe lower these days than they used to be as single players in the market have less weight and therefore less impact. Unless there is a very high level of collusion going on, it is far more risky these days to try some shenanigans as you never fully know what the market will do next. Assuming that someone wants to crash the market, what could that be good for other than harming their own portfolio or risking that the market rebounds much quicker than expected and the person dumping would have to buy back at a higher price?

I know that OP is a little older, but predicting what Bitcoin will do within a particular year isn't expedient at all I think. It can be fun, but that's it. Rather focus on what Bitcoin will do in the long run. Having an eye on what it is doing in the present is good because it keeps you in the loop, but giving weekly estimates as to where the price will be on a Sunday, meh.
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Board Speculation
Re: Whales are accumulating bitcoin
by
fulcare
on 26/10/2024, 15:54:13 UTC
I read it on news that as the price of bitcoin is getting closer to $70000, that new and old whales wallets are accumulating bitcoin at a speed which resembles July 2020 to January 2021 when bitcoin increased by 550%.

According to the news, what it means is that bull run is likely coming and that this is just the beginning of it. What you think about it? I think history can repeat itself.

I'd rather not speculate on whether or not history repeats itself, but simply have a look at the fundamentals and how Bitcoin is perceived by various actors in public. Talking about 2020 to 2021, that was still a time when Bitcoin got bashed by most politicians, now it gets embraced at least seemingly or they pretend to embrace it. I am particularly talking about the US politicians here, but in other countries as well. Bitcoin is not the rat poison anymore that it was once said to be. Some people would still like to get rid of it, but by now understood that there is no getting rid of it.

Your analysis or assumption could be true, could not be true. I would rather stick to my guns here and come up with my own assessment, which is not so much focused on the timeframe, but on the yes or no. Will Bitcoin go up? Very likely yes. Does it matter when? Not so much.
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Board Economics
Re: Central bank digital currency will improve the use cases and value of Bitcoin
by
fulcare
on 09/08/2021, 13:32:09 UTC
The problem is that your ordinary citizens do not know the difference between the two. If CBDC is "government supported," then it must be legal, right? Educating the public in some way about actual value support seems to be the only way to ensure that CBDC has nowhere to go.

Also, if you interact with CBDC in any way, the CBDC issuer can actually develop a full financial online profile of yours. They might be developing very sophisticated interfaces for CBDCs and cryptocurrencies such that they ultimately get to know exactly who you are and what you are up to. The herds will fall for it I guess.
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Topic
Board Economics
Re: Not just money but oil is most important in the World
by
fulcare
on 09/08/2021, 13:29:04 UTC
The oil industry moves unthinkable amounts of money in the world which goes directly to the pockets of the establishment's members who rule their local societies on the backgrounds. That is the reason why electric cars and similar technologies are never fully implemented or opened to everyone for an affordable price.
Oil was indeed black gold many years, but it shouldn't remain like this anymore, because it's already possible to replace it, if there was legit interest from governments, businessmen and bureaucrats.

However, modern slavery is more profitable for them, as renewable sources of energy turn people less dependent, just like bitcoin and financial system correlation, so oil will last as black gold for a long time yet.
Oil prices are not what it used to be, it dropped significantly during last year's pandemic crash, and it never really fully recovered, it is going to be less and less wanted in the future. It doesn't matter how much money they make, which is less around now compared to back in the day, it is all about how many people prefer it. As long as people keep improving the renewable energy platforms, get more energy from solar panels, drop the capital required to build it and so forth, that R&D will come back and result with people using renewable energy.

At the end of the day which one would you prefer, keep paying for oil, or would you rather have something that you pay a lot at first but then free forever? Look at Tesla cars, you wait 30 minutes to recharge it, but then it is free of charge give or take, maybe few cents, whereas cars that run on oil may fill it up in a minute but it costs how many dollars? Eventually people will realize the difference.

Well it never really full recovered back to its ATH, but congratulations who bet on oil big time when it his its ATL. Wasn't it that you could get oil at negative prices? That the paid companies to put oil on their tankers and just park it in the ocean to keep production going despite lack of storage space? Oil was so low that I can't believe I didn't play a nice long position with leverage at some point. Who knows how far it will recover, gasoline prices are about to go to ATH.
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Topic
Board Economics
Re: Can blockchain replace the traditional banking system?
by
fulcare
on 09/08/2021, 13:26:38 UTC
In my opinion, from a technology perspective and ease of use, blockchain is the right place to replace the traditional banking system. 

 We see over the last decade, the payment system has transformed so rapidly.  From real-time cross-border payments, to using blockchain and cryptocurrencies.

 Recently, Central Bank Digital Currencies (CBDC) and stable coins also emerged that made traditional banks rethink their business models.
Blockchain technology has been very useful and beneficial to each of us but i think replacing our traditional banking system with this won't happen easily and will definitely take a long process.

Blockchain still needs a more room to grow because its still young and not mature yet. People has entrusted their whole finances into traditional banking system in their whole life so if this will be replace with the current blockchain, then let's expect that there will be more issues that will come out.
when one day blockchain has matured in its development, and if the government views the old banking system as no longer relevant, it is very likely that blockchain will replace it. but for now it may not be possible, because to replace it directly I think it's difficult where banking must always run every day

Your opinion is correct, we don't know what will happen in the future. Blockchain technology is currently still in the process of development,
we will never know what stage the development of blockchain technology will reach. If the development is getting faster and it is considered
ready to replace the old banking system, there is a possibility that the government will start to change its mind and accept that blockchain
technology will replace the old banking system. But if we talk now, it is definitely impossible to be true. Because the government still feels
comfortable with the old banking system. Therefore, there are some countries that still reject cryptocurrencies, because they still consider
the old banking system to be worth maintaining. then fear that accepting cryptocurrency will replace the role of the old banking system.

If we try to extrapolate a little bit what we have seen so far that blockchain is able to do and what it is not able to do, I think we can get at least an idea where we might be heading. Blockchain can sure solve certain problems or deliver services that banks are used for these days. Algorithmic loan provision based on reputation systems and so on, but those need time and data to develop. There will be a lot of prototyping to make sure the credit default rate is in range with what can be accepted compared to the banking system and their rigorous screening procedures, but still I do believe we will see certain banking functions be replaced blockchains or let's say protocols and algorithms.
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Topic
Board Economics
Re: If you can get paid through cryptocurrency, do you still choose fiat currency?
by
fulcare
on 09/08/2021, 13:13:23 UTC
That is one important aspect and the other one is that even stable coins aren't a solution to that problem because the hassle is too big as hardly any business accepts Tether. Also, why use Tether if you can just use the USD in your bank account. Less explanations to financial authorities, overall less trouble. We are not quite there that more and more people get paid in crypto because it is more practical to them. Some do receive or take crypto as payment because they want to drive adoption, which is a good and important endeavor.

There is no point in using Tether (or any other stablecoin), when their acceptability is far lower than fiat currency. As of now, none of the cryptocurrencies have an acceptability rate which can be compared with that of fiat currency. On top of that, the usage of these stablecoins may create issues for you, when you file your tax returns. And finally, I would not consider Tether (USDT) as a safe asset. From whatever data they have published so far, it is clear that only a minority of the reserves are being held in cash. That will be an issue in case of a mass liquidation event.

It is even worse than that... I think they published only a sort of pie diagram and provided the % for each of that asset classes they hold to back their Tether, but nobody knows how much value the assets they hold to back Tether really have! Cheesy

They could provide a pie diagram and have less than a million available to back billions of Tether. What a ridiculous report! Tongue
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Topic
Board Economics
Re: Will crypto lead to the next financial crisis?
by
fulcare
on 09/08/2021, 13:11:26 UTC

That is a one-sided point of view in my opinion. Yes the cryptocurrency space shows that people desire for something that is different from what they are used to, which is first and foremost something that does not support quantitative easing and also raises capital mobility on the individual level, but we shouldn't forget that we are also all better off if we do indeed have some tools in place to get fraud under control as much as possible without sacrificing freedom at the individual level. I know that is a dilemma and it can never really be fully controlled for, but it is in our best interest to find the sweet spot. Crypto has its own set of problems that needs to be addressed.

The financial crisis does not always bring positive changes, for example in my country.  The crisis in 1997 has saddened us to this day, the exchange rate of the Rupiah which was stable against the Dollar is now very low when compared to the Dollar.  The hereditary state debt has become the biggest burden to date.  However, currently crypto does not provide the alleged crisis potential because crypto does not use a qe policy.  Everything is left to the market and if banks adopt crypto then people will realize that there is no need for a central bank anymore.  Because the whole economic system is rotten today is the central bank everywhere.  They are regulators as well as creators of chaos in the economy.

We will never have a sound financial system, we can only thrive for a system that is less rotten than the last one. That is similar to what Musk said: Whether Bitcoin is the perfect solution that we are looking for to become a global currency. He answered no, Bitcoin is just less bad than fiat. I think I see some truth in that. Bitcoin will also be far from perfect because there is no perfection. Whenever it is about money, you will see powerful actors try to get control over it. This time it is just much more difficult as Bitcoin is way more resilient to power-drive attacks due to its decentralized nature and its incentive system.
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Topic
Board Economics
Re: Bitcoin doesn't care about Tesla and Amazon
by
fulcare
on 09/08/2021, 13:07:22 UTC
Yeah, Bitcoin price doesn't care much about Tesla or any other company now. It doesn't fluctuate too much like the old times when these companies make a statement like they are going to hold Bitcoin or to accept payments with Bitcoin. I like that the market is getting more resistant against these kind of manipulations.
It's not really manipulation.  The price is driven by individual investors who are trying to get rich or FOMOing in.  When a company would announce they were accepting bitcoin, the speculators would pile in hoping to make a quick buck on the hype of "mass adoption."  To the extent these types of things don't happen anymore, it's because it's just too big at this point.  "Adoption" isn't really a driving force anymore in the price because the speculators can't buy enough to meaningfully move the price.  It just takes too much money at this point.
It's just that a relatively calm time has come and investors have calmed down for now, because the big players themselves are tired of the frenzied volatility and decided to take a little break for now. But I assure you, this will not last very long and when some global financial or cryptocurrency events occur, the crypto market will not remain indifferent and a very cheerful autumn awaits us. It's just that when the market is inflated, there is a hysterical reaction to any event and the cryptocurrency market, due to its youth, is no exception. Therefore, I am not sure that the market has matured and become very stable, so future news from Tesla and Amazon will shake up the market more than once Wink

I agree and we are actually ver far from having a stable a crypto market. The dynamics in the market might also lead to crypto never becoming a more stable market. When you have some innovation in the car industry, authorities inspect everything closed and either allow a certain innovation or not. In crypto this different because it is unstoppable. You can't regulate something that you on the one hand don't see coming in the first place and on the other hand don't know where to go to because innovations are published as open source code in a decentralized manner. This will cause an ever ongoing uncertainty that will ultimately lead to market volatility. That is just my stance on it. I am not mad about it, I am happy to be part of this as Bitcoin or the Bitcoin code seems to be the sincerest realization of the freedom of speech principle we have seen so far. You can't stop it, you can just try to undermine it.
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Topic
Board Economics
Re: Bitcoin doesn't care about Tesla and Amazon
by
fulcare
on 08/08/2021, 18:47:42 UTC
Tesla is trying to manipulate the crypto market just like what Elon Musk also did. But unfortunately, things don't come out exactly what's on their plan. Even Amazon has leave a big impact on bitcoin but later on, the price still recovers.

This just proves that bitcoin is not relying any one or any big company to create an upward trend. Remember that China has also leave a huge impact into bitcoin and resulted into a long dump but through positive news and great opportunities offered to bitcoin, its price still manage to recover.
Everything you say makes sense, because if we look at the few times Bitcoin was manipulated, then the price fell quite deep. But not long after
Bitcoin managed to recover again, this proves Bitcoin does not depend on big companies to grow. Because Bitcoin is decentralized, it means that
no one can control Bitcoin. This is what finally upset China and spread FUD to make Bitcoin die. But China has always failed to make Bitcoin die,
this is what ultimately makes the trust of many people increase in Bitcoin. Then Bitcoin will always grow and increase in price, even though big
companies don't support Bitcoin.
I think when Bitcoin was manipulated there were a few things that happened simultaneously. Whales could have manipulated the price down, but then the herd lost their nerves I guess as when Bitcoin crashed hard, it was always the case that the market felt quite overheated anyway. It is not like Bitcoin totally crashed out of a sudden and nobody would have expected that. It sometimes did drop more than people expected, but anyone became more careful with buy orders out of a sudden anyway.

Many things can happen when Bitcoin is manipulated, sometimes because it is manipulated, the Bitcoin price drop is often drastic. This is what
makes many investors panic and sell their Bitcoins at a loss. Even though investing in Bitcoin requires patience, which is a market dump situation,
there is no need to panic too much. Because of how deep Bitcoin falls, it always rises again, and can rise to a higher price. So there is nothing to
worry about if the whales manipulate and make the Bitcoin price suddenly dump, but Bitcoin can always recover again. That's what causes Bitcoin
trust to increase.




Patience and especially stress resistance. You need to have the mental state to watch your investment go down by 40% and still keep your fingers calm. Understandably, many people lose their nerves and out of a sudden feel the urge to save whatever there is left that can be saved in that moment. It is definitely hard sometimes to be into Bitcoin. Wink
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Board Economics
Re: Can cryptocurrencies replace fiat currencies
by
fulcare
on 08/08/2021, 18:45:26 UTC
I think that cryptocurrency and fiat currency can be used together. The feature of cryptocurrency is that fiat currency does not have, and the feature of fiat currency is that cryptocurrency does not. If there is no fiat currency, how do we buy cryptocurrency, and now various countries are launching digital fiat currency , This is actually a threat to cryptocurrency, because the government cannot control cryptocurrency. It will prohibit the use of cryptocurrency for everyone to use legal digital currency. It will be a blow to cryptocurrency at that time, but we Everyone likes to use cryptocurrency because it is relatively free, not regulated by the government, and there is no third party. Your own information will not be easily leaked, and now transaction payments are more convenient and fast

Digital fiat currency isn't much of a threat to decentralized cryptocurrencies. Digital fiat currencies are a threat to society because they undermine privacy like no tool did ever before. You can't transact anymore without the banks and the government knowing where you were at what point in time and what type of items you most likely bought. If you have to go to a pharmacy twice a week and buy something, they know you must be sick like hell. If you pay the price for a package of cigarettes and they see the exact same amount every day on your financial report, they know you are a heavy smoker.

What you're describing isn't any different from electronic payments as they currently are.  You don't even need a digital currency.  There's no reason to suspect that a digital currency though would allow the government to know what specific items you're purchasing though, just like the current digital payment systems don't provide that information.  That concern is overblown, but I agree a digital currency is a potential nightmare for consumers because of the extra power it grants the government over the economy.

Alright, let's assume you go to a store and a certain bottle of well known cheap whiskey has a certain price. You go to that store seven days a week and buy that bottle, most of the time between 6 and 7 pm. Maybe you add some other stuff that has a price everyone could pretty easily identify. Now you ask your bank for a loan. Don't you think they might have a clue because of your spending habits? What if you attend a "certain" doctor three times a week and you pay privately? Do you think the doctor has a hidden company on the Cayman Islands such that nobody knows you are visiting that doctor three times a week when the transaction with all details shows up on our account every single time? No, it will say "Doctor Smith bla bla bla". What about paying in a whorehouse? Or going into a pub more often than the average person, paying your bill with digital money there? Or you frequently have to pay a lawyer, anything wrong with you? Are you a criminal? Should I go on? I know I am mentioning stuff that might reveal so called "weaknesses" of some people. But as long as they don't harm anyone when they drink 7 bottles whiskey a week and have usually been paying back reliably, are you sure that insurance companies and banks won't use that data?
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Board Economics
Re: Will crypto lead to the next financial crisis?
by
fulcare
on 08/08/2021, 18:35:16 UTC
I always watched financial crises as a time of change! Yes, many big ones fall down, some new arise... while ordinary people suffer in that game of power! Usually the ones at the end of the food chain!
I believe that crypto is a new player in that game! The true power of crypto are people behind, there is a strong/rich group of people who stand behind the fiat/monetary systems around the world! We saw many little battles between crypto and government/bank sectors from different countries and looks like crypto is winning, simply because more people are joining, disappointed in traditional institutions!
It will be interesting to see what will happen, I expect some bigger battles in the future! More organized and widespread, probably after some big disaster, like it always happen!

I agree with your words that crisis is a time of changes.
In my opinion bitcoin and the whole crypto thing shows how it can be - open market for everyone anonymously with no credit ranks. Crypto market is a surgery tool, that shows us how a rotten system we have. And yes, it can lead to mass disappointment in the old markets and therefore results to financial crisis on these markets.

Government and central banks denyed crypto at first,
then they started to launch own crypto products
Because they know, if changes dont come from reforms, they come from revolution. So central authorities are afraid of this foreseeable financial revolution

That is a one-sided point of view in my opinion. Yes the cryptocurrency space shows that people desire for something that is different from what they are used to, which is first and foremost something that does not support quantitative easing and also raises capital mobility on the individual level, but we shouldn't forget that we are also all better off if we do indeed have some tools in place to get fraud under control as much as possible without sacrificing freedom at the individual level. I know that is a dilemma and it can never really be fully controlled for, but it is in our best interest to find the sweet spot. Crypto has its own set of problems that needs to be addressed.
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Topic
Board Economics
Re: If you can get paid through cryptocurrency, do you still choose fiat currency?
by
fulcare
on 08/08/2021, 18:32:28 UTC
Many companies are also considering allowing their employees to choose to receive partial or full compensation in the form of cryptocurrency. If you can get paid through cryptocurrency, which one would you choose? If the boss pays in Bitcoin, would you want it? Or you continue to prefer to pay in fiat currency to facilitate the purchase of tokens you like.
Do you think cryptocurrency payment will be a new trend in the future?
I would still prefer fiat currency. You know you can't pay your bills using crypto currencies. And what if you get paid in a non stable coin and the next day the market crashes really bad? We have seen the price of crypto currencies go down more than 20% in just few days. You will be in trouble then. Then there is those transaction fees which sometimes end up being very absurd. Get paid in fiat, buy crypto with fiat Wink.


I see that your chosen indicator can only be used as a trading tool, isn't it very simple?  BTC is like gold, gold can't buy a good must be exchanged first to fiat then do you still prefer fiat to gold?  If given the opportunity to choose then BTC is the best choice. Although it cannot be used as a direct transaction tool, BTC can be the best store of value than if you store it in fiat.  What you get by filling an account with fiat for 10 years when compared to BTC is a very clear growth chart.

Given the current fees and Bitcoin's volatility, I doubt it is the best choice to get paid in bitcoin in every single situation. If you earn pretty much exactly the amount of money you need per month to pay your bills, I would probably prefer fiat over bitcoin honestly. What are you going to do if it does crash during those days or the week you are getting paid usually?
indeed for now the use of bitcoin is less relevant for all levels of transactions. because of the high volatility and the price of an item is fixed in fiat units, then we will find it difficult for small entrepreneurs, because not all of them understand crypto. it's different if crypto is accepted in all countries and the unit of goods uses bitcoin for the price, of course at that time we can spend it calmly

That is one important aspect and the other one is that even stable coins aren't a solution to that problem because the hassle is too big as hardly any business accepts Tether. Also, why use Tether if you can just use the USD in your bank account. Less explanations to financial authorities, overall less trouble. We are not quite there that more and more people get paid in crypto because it is more practical to them. Some do receive or take crypto as payment because they want to drive adoption, which is a good and important endeavor.