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1001  Economy / Gambling discussion / Re: A gambler takes his own life after a loss. on: February 28, 2024, 08:22:10 PM
You value life and anyone who value life are not moves by money or any materialistic things. But the guy is definitely dealing with other fears and depression which he must haven't share with anyone and then end it all when he loss everything. I even read somewhere he borrowed an additional money to his own to bet, didn't know what he was trying to achieve but it's better for him to use the money to buy food and eat, sleep and get querry by the lender of the money than do gambling and ended it all.
He is also battling with the shame of what people would say concerning the money he borrowed for gambling. Some people are not bold enough to face life situations which makes them think about suicide each time they face a challenging situation. He contributed to his problem if he indeed borrowed money to gamble. His gambling addiction was aggressive which made him lose his sense of reasoning. I also feel sorry for the creditor because he has also lost the money he graciously lent to the deceased.

Those days when you only see middle age people worry of depression but Depression today is a real problem among the youths and adolescent people who are supposed to be facing higer education, skills, and other things that will be beneficial but they would rather watch Drake that has struggled his life to get where he is today but they want to be like him when they don't even have the means, this is where gambling comes from some people.
Social media has contributed a lot to the problems most youths are having. The youths are now closer to their funds and online peers than their parents. Some of them prefer to take advice from social media instead of seeking counsel from parents and other experienced adults. They are also influenced by celebrities or brand ambassadors that they meet on social media.
1002  Bitcoin / Bitcoin Discussion / Re: The Weekly Net Outflow of Bitcoin from Exchanges Has Been Increasing on: February 28, 2024, 08:08:48 PM
According to IntoTheBlock data, since the launch of the spot Bitcoin ETF in January, the weekly net outflow of Bitcoin from exchanges has been consistently increasing. This week, the net outflow reached $540 million, marking the highest amount since June 2023.

This reflects a belief in Bitcoin's potential as a store of value and a hedge against inflation. Long-term holders and institutional investors, in particular, may be taking a more strategic approach to their Bitcoin holdings, viewing them as a strategic asset allocation rather than a short-term speculative investment.

All we can do is just speculate about reason for the movement of these funds out of exchanges. It could be that the exchanges are changing wallets or people are withdrawing them and putting them in in custodial wallets. It could also be that people now prefer to invest in the ETF more than keeping funds in centralized exchanges.

Any point of view I don't see any relationship between Bitcoin and inflation. Bitcoin has a store value, and everyone stores or trades it to gain significant profits. It's true that many institutional investors are entering the Bitcoin market, and the market is pumping too. But I don't think this could reduce inflation anyway. Governments control the economy, and they are responsible for inflation. 
Bitcoin might not reduce a country's inflation but it can help shield people's money from losing value during inflation. Bitcoin can be used as a hedge against inflation mostly in countries that are going through currency devaluation or loss of value. Instead of keeping funds in local currencies which is losing value, some people prefer to keep their money in Bitcoin to protect their funds from losing value. Such a person will end up making a profit from the increase in the price of Bitcoin and save their money from losing value. An example is Nigeria where even with the restrictions placed on Bitcoin, Nigerians were still embracing it because it was the best to curb individual or household inflation.
1003  Economy / Reputation / Re: Merit Abuse / Account farm on: February 28, 2024, 02:07:02 PM
Giving out merit is subjective or based on the discretion of the sender but I can attest these posts didn't deserve the merits they received. Unikon the first merit giver looks like a good poster from the Russian board. CRAIC, Kypher, Kounter, and corel are low-quality posters with no link with the Russian board. I don't think Unikon was hacked or bought because it is still active and the posting style seems not to have changed. But the striking resemblance of some of these accounts is that they like copy and paste news. They may be alts based on how the merit moved between them. It is possible that they are targeting signature campaigns or other forum activities.
1004  Economy / Economics / Re: China are back to mining Bitcoin. on: February 28, 2024, 01:27:22 PM
i even found an interesting article about the cryptocurrency industry in china: china never completely banned crypto. there it is explained that in fact what was conveyed by western news portals about china banning cryptocurrency is not completely true, the proof is that last year binance recorded that there was $90 billion in chinese crypto trade, that is quite a large amount. this proves that china is still interested in the crypto industry and this may also have an impact on the bitcoin and altcoin mining industry which may continue to grow in the future in China.
I have always thought that crypto trading is illegal in China but from the few articles I just read it seems it was just restricted. I was thinking they one needs to use a VPN or other means to deal with cryptocurrencies because it was illegal. And citizens could be persecuted if they are caught engaging in crypto transact. However, it seems Bitcoin mining suffered stringent regulations which made many miners leave China for other friendly nations.

As others have said, I also believe that China might be regretting its negative stance towards mining because Bitcoin mining is now an important investment and revenue source. Bitcoin mining creates jobs, gives revenue to the government, and can be used for recycling activities. Chinese economists are suggesting that Bitcoin mining should be part of the already devastated Chinese real estate industry. They are suggesting that heat can be recycled to power Bitcoin mining rings in residential buildings so that they can also make extra income from mining. I assume China has a plan for the crypto industry and they are using Hong Kong to practice these plans.
1005  Economy / Gambling discussion / Re: Italian League Prediction Thread (Serie A) on: February 28, 2024, 08:13:42 AM

Dybala has sensitive body and in the last season, he got many injuries and it's part of reasons Juventus did not sign a new contract with him and let him go as a free player. Roma with Jose Mourinho convinced Dybala to join their project but he unluckily failed to have good fitness in last season. In many situations, he easily got injuries by not too serious tackles from opponent defenders. It is different in this season, as he got less injuries and needed less time for recovery.

With Dybala and Lukaku, surely any coach will try to combine them as they have skills to support each other and cover each other weakness.


Mourinho has one good behavior that I cherish so much which is his willingness to give players a second chance. He brought in Paul Dybala when the Argentine was rejected by Juventus and had few transfer options. Now the striker is showing that he is one of the best in Europe. Luckily for him, he has been able to stay without injuries for this long and he has also had a fantastic combination with Lukaku. The Belgian is another striker that was rescued by Mourinho when his career was at a standstill after he was rejected by Inter and Juventus. The Portuguese tactician believed in the Belgian and brought out the best in him.

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With De Rossi, Roma tends to play more attacking and this tactical change is reflected in total goals they scored so far under De Rossi era. However their weakness in defensive line is still there and it needs to be fixed. Roma will need a stronger defense to win Europa League and to win as many matches as possible in Serie A to join top four or more specifically to get the fourth position.
Roma is not yet a perfect team but it has kept improving. Daniele De Rossi is building a team that will become competitive. Within his few weeks as coach, he has used 25 players in 8 games which means he is maximizing the quality players at his disposal. Players like Chris Smalling and Renato Sanches who have been sidelined by long-term injuries have been reintegrated into the squad. The Italian Coach can lead Roma to greater heights.
1006  Economy / Gambling discussion / Re: Italian League Prediction Thread (Serie A) on: February 27, 2024, 06:13:57 PM
For Napoli it will already be a great feat to reach sixth position this season, considering that they still have 13 matches to play but still have to face Juventus, Inter, Atalanta, Roma, Fiorentina and Bologna, so to achieve what you think, Napoli should first everything to win against these teams who are in better positions than Napoli and not lose against Sassuolo, Torino, Monza, Frosinone, Udinese, Lecce, Empoli
It was some careless defending that made Napoli conceive that late equalizer. Angolan winger Zito Luvumbo was been marked by two Napoli defenders who were not well-coordinated which made him grab that late goal. Napoli still has the opportunity to get a Champions League slot if they can improve under coach Francesco Calzona. The club should do more in the defense and the midfield is becoming less creative which has led to a reduction of goal-scoring opportunities. The club will be more focused on the Champions League because it is more important based on prestige and financial benefits.
1007  Other / Off-topic / Re: Everything you need is within you on: February 27, 2024, 05:48:49 PM
You don't really need to go the 360 degrees to be successful in life for everything you need is just within you.its not until you also do the same business the next successful person is doing before you gain financial freedom.the part way to success is not fixed you could discover yours.
OP reminds me of some motivational speakers who come up with so many success strategies, meanwhile they are not even successful Grin, just kidding. However, I think you have a point that we have great gifts and abilities that we can use to succeed. These abilities are dormant because we have not put them to work or tried to do what we think we can.

Copying other people's business or skills is one of the reasons why people fail. It is common to see people establish a business because they see that someone else is succeeding in it. Immediately one persons starts a new business within a few months multiple people have established the same business. You cannot be successful by engaging in a rampant business. We should learn to be creative and innovative if we want to run a successful venture.

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Some persons close their long term built businesses to sought for a bigger one and end up losing both instead of making the one they are well acquainted with larger and better.
Stop crossing other people's lane and stop looking outwardly for everything we ever needed is just within.
Opportunities are all around us but it's left for us to see it as an opportunity and make use of it. One good step that is proportional to one good opportunity could lift one to a greater height. just look around, the solutions to your problems are just lying by the corner.
It is only people who are greedy or discontent that would want to do everything they see others do. If you are good in just one business people will patronize you. It is not bad to diversify into other businesses but it should be done after a comprehensive analysis and projections. Just be the best you can and have good customer relations, with hard work and dedication, your business will flourish.
1008  Bitcoin / Legal / Re: South Korea Strengthens Crypto Exchange Regulations on: February 27, 2024, 05:32:05 PM
https://www.msn.com/en-us/money/markets/south-korea-s-ruling-party-mulls-bitcoin-etfs-as-election-promise-report/ar-BB1ixfwe
"South Korea’s ruling People Power Party is contemplating significant changes in the country’s cryptocurrency landscape as part of its campaign pledges for the forthcoming general election in April.
Reports suggest that the party is considering lifting the ban on spot bitcoin exchange-traded funds (ETFs) and exploring avenues to allow institutional investment in cryptocurrencies, including initial exchange offerings (IEOs)."
As expected the approval of the spot Bitcoin ETF has started having a ripple effect on other countries. South Korean ruling party claims that it is targeting to attract more investors in the crypto sector. The party is also planning to extend the tax exemption from crypto income. This policy change is targeted are targeting young voters in the forthcoming elections. However,. politicians cannot be trusted because the are inconsistent. They usually make good or viable promises during the campaign but they might change their stance immediately after the election is won.
1009  Economy / Gambling discussion / Re: Outcomes of insighting gambling for a source of income. on: February 27, 2024, 05:19:57 PM
Just in, he is on medical attention after he slumped as a result of loosing a borrowed fund meant for a business re-startup after the gamble made him squandered his previous business.
At his regained to a normal state of health, he explained that he thought he would be lucky to win at the stake so as he could expand his intended business with a bigger capital.
Gambling with borrowed funds is a clear sign of gambling addiction. It's a pity that your friend is a chronic gambler and it has even affected his health. He needs to stop gambling, work, save money, and pay his debt. He should seek the help of experienced gamblers who can guide him on how to gamble responsibly. If possible, seeking the help of a gambling addiction therapist could be good. He needs to take a break from gambling and only come back when he is sure of controlling his gambling behavior.

I'm really skeptical if 1000$ can really give you a lucrative business in my country but maybe in your country since that amount is only the price of the business location with very rental small place but resorting to gambling using the funds that is intended for important matters is always a big red flag because you are risking the money that you can't afford to lose.
$1000 could be enough to start a successful business but it depends on the kind or the size. The businessman might decide to start an online business instead of renting a physical shop. Some persons might have a business space in their homes which could serve as the business place until the business expands. Some persons might also decide to rent small stalls instead of a big shop.
1010  Bitcoin / Bitcoin Discussion / Re: Why inflated countries should adopt Bitcoin to help boost their economy. on: February 27, 2024, 04:53:29 PM
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Why inflated countries should adopt Bitcoin to help boost their economy.
All the benefits of Bitcoin you have mentioned relate to individuals and not nations. An individual can use the currency as an inflation hedge and one could make money from Investing in Bitcoin. There are several causes of inflation and it can be tackled using multiple economic measures. Some of the ways the government tries to fight inflation are by increasing taxes, changing interest rates, and reducing government spending. Favorable Bitcoin policies could be part of the measures but not the only solution.

Other countries should use see El Salvador that invested in it and adopted it for transactions as an example of how Bitcoin could affect an economy positively. It's helped  them to improve their enocomy by reducing the rate on inflation in their country, though it didn't occur as fastly as speculated, but in the bull season when the halfing fully comes as speculated their economy could become very robust, since it's adopted over there.
The government of El Salvador has made some profit from their Investment in Bitcoin but I doubt if only the gains made from Bitcoin will help the nation reduce inflation. Investing in Bitcoin should be part of the measures to diversify the economy of the nation in a bid to reduce inflation. There is no proof or data that proves that Bitcoin has helped El Salvador to come out of inflation. The view or belief that Bitcoin is the savior of a nation's economy is a utopian one.
1011  Other / Beginners & Help / Re: Microstrategy’s X account gets hacked, $400k stolen through phishing scam on: February 26, 2024, 08:48:10 PM
This is bad news and not an encouraging one for the bitcoin community. An account like that of microstrategy that have a lot of users following and trusting their services shouldn’t be used as bait to get to victims. This was as a result of a hack but the company needs to do more in securing their social media accounts from hackers. The deed has been done but it’s a lesson for those that love anything free in the crypto space which is not suppose to be so, check and verify for credibility sake before clicking on any link you come across if you’re an investor in bitcoin or even a passerby to avoid not falling victim of such fraudulent act.
Although the scamming is not related to Bitcoin we all know that Microstrategy is a well-known big Bitcoin investor. When the US SEC Twitter account was hacked through a SIM swap attack, it became clear that anything could happen on social media. Microstrategy should have been able to set up some security measures such as using Two-factor authentication applications. However, it is a lesson to everyone to always verify any information that emanates even from official channels. And there is also a need to make hasty decisions or be in a rush to invest. Some people will always rush to invest in such attractive projects without doing proper research.
1012  Economy / Economics / Re: World fight over resources don't live in country where is a lot natural resource on: February 26, 2024, 06:54:08 PM
<✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂>
Does corruption really only increase in countries that have natural resources, or are the fights you're talking about? What you said applies to some countries, but not all countries. Because if we see most of the countries in the Middle East which are full of oil and gas resources have developed them in a very short period, now they have reduced their dependence on natural resources and started investing in other sectors. In this case, it has been seen that many countries have become successful.
Moreover, even if the country where I live has natural resources, it is not that much. And besides my countries don't have natural resources yet they are riddled with corruption and debt defaults, like Sri Lanka. So I can't completely agree with you.
The original post contains some basic truth but not all the information is valid. In places like Africa and some parts of the Middle East which have enough resources, it is common to experience conflicts sponsored by superpowers who want to exploit. It is easy to finance or support some groups to destabilize the country to enable these superpowers to control these natural resources. There is always control or power tussle between world powers over any developing nation that owns large amounts of minerals.

But this is not always the case because a lack of natural resources could also make a country poor. Some countries that have natural resources have also maximized it for the betterment of the people. These nations have also been able to play international politics that have shielded the country from external influence. Countries like South Africa and Egypt have been able to balance international influence and national interest.
1013  Economy / Gambling discussion / Re: An Unusual Story that Reflects the Current Gambling Addiction Reality on: February 26, 2024, 06:30:05 PM
This short story reflects the current reality we live in.
The helper's reaction might be due to experience. Maybe she has had a case where money given offered for a particular purpose was used for gambling. I also think that she did the right thing because it would be better to give the money to the sick person than any other person. After all, the sufferer will maximize the money.

Just like other forms of addiction like drugs, alcohol, sex, and others, gambling addiction could lead to loss of funds that would have been used for other important purposes. I know a man whose wife receives his salary from his workplace because of his alcohol addiction. His employer decided to give his wife because he would waste all the money before he got home after receiving his pay. We live in a society where unfavorable economic conditions are forcing people to engage in unhealthy practices which include uncontrollable gambling habits.

It is also believed that women are more prudent with funds and will unlikely engage in gambling activities. The majority of gamblers in my area are male, which means it will be ideal to give funds to women if you don't want them to be used for gaming.
1014  Economy / Speculation / Re: Can we see BTC at ATH before the year ends? on: February 26, 2024, 06:07:33 PM
I've watched BTC go from 23k to 52800 currently and with reports stating BTC outflows from exchanges rising to 8months HIGH, do you think BTC will hit ATH this year?
https://coinmarketcap.com/community/articles/65db377c13c6094f48999ba4/
Every bull run has some unique experience or occurrence. This current bull run is surrounded by the process and final approval of the spot Bitcoin ETF in the US. It will be difficult predict the price of Bitcoin or when it will get to the next ATH but based on the Bitcoin cycle it might happen at the end of this year or early next year. The golden rule still is to have a long-term plan and invest what you can afford to live without.
1015  Other / Beginners & Help / Re: Learn how to read crypto market charts on: February 24, 2024, 08:22:53 PM
Code:
DYOR
All these won't be necessary for a long term holder so I will replace your quote with
Code:
HODL
. a long term holder have no reason to learn about market movement or charts although no knowledge is wasted you can just glance through it but there no need to stress on it. Only a short term trader would really need to know more about the charts and market movement.
I don't expect this from you dude, why would you just conclude that a market holder do not need understand this basic about how the market moves. We don't need to be a blind holder per say, we need to keep utilizing new strategy to know when to buy and when not to buy.
There are many mistakes most holders mostly make because they do not understand the market at all.
I would not advise someone to invest in Bitcoin when they don't know when to buy and when the market is overbought and about to dip.
This basic knowledge is important for us to understand the market behavior and determine how we are going to trade in the market. This just a shallow knowledge about the market.
There is a saying that no knowledge is a waste, which means I agree that it will be beneficial to know the basics of graphs concerning market movements. But I understand what Hatchy is saying about long-term holders not needing these daily updates about Bitcoin market movements. Many long-term Bitcoiners have more than one year of investment plans, so it will be a waste of time to monitor the market daily. Daily movement of the market is irrelevant to them because regardless of what the position is, they are sticking to the plans. It is good to learn about these graphs but I think it will be more beneficial for traders and short-term crypto investors.
1016  Economy / Gambling discussion / Re: Premier League Prediction Thread 2023/2024 on: February 24, 2024, 07:57:00 PM
I never imagined that Manchester United would perform so badly, Manchester United team was at number 6 in the points table. But Manchester United attacked a lot but could not succeed in the last minute. But the players of Fulham team are very aggressive, the ball was under the control of Manchester United for most of the whole match. But 57% said Manchester United was in control and the remaining 43% were in favor of Fulham. In particular, Manchester United shot 21 shots at the goal post, and Fulham team shot 17 shots at the goal post. But Manchester United could not win
Manchester United have shown again that they are inconsistent this season. Most bettors in my area predicted an easy win for United considering that Fulham have won just one match in eight games in all competition. While United have had four straight wins in the Premiership. The problem with the Red Devils is the inability to convert goalscoring chances. They had nine shots on target and scored only one goal through a defender. Fulham was just able to seize the opportunity they had to grab these important three.

Alex Iwobi got the winner and it will be a big consolation to the midfielder who faced a lot of criticism due to his perceived poor performance in the African Nations Cup. He went through a harsh cyberbullying that made him consider retiring from the national team. Another Nigerian Calvin Bassey also got a goal which is a good thing for the defender who had a good outing in the AFCON..
1017  Bitcoin / Legal / Re: Frankfurt chosen as headquarters for new EU anti-money laundering authority over on: February 24, 2024, 07:27:35 PM
https://www.theblock.co/post/278758/frankfurt-amla-crypto?
"The Council of the European Union and the European Parliament representatives agreed that AMLA will be based in Frankfurt.
AMLA will directly oversee the crypto sector, among other things.

Representatives from the Council of the European Union and the European Parliament reached a consensus on the location for the headquarters of the new European authority for anti-money laundering and countering terrorist financing on Thursday, determining that AMLA, the organization, will be based in Frankfurt, Germany."
The location of this the Headquarters of the EU anti-money laundering and countering terrorist financing authority is not relevant to me, all I want is for them to go after bad actors in the crypto space while genuine players should be given the freedom to engage in financial transactions without any restrictions. Genuine actors should not be allowed to suffer because the system has few bad actors. It is not strange that Germany was chosen as the location because the country has the largest economy in Europe.
1018  Bitcoin / Bitcoin Discussion / Re: Please stop blaming "the government" for lack of Bitcoin mass payment adoption on: February 24, 2024, 07:12:53 PM
Bitcoin is not trying to replace the status quo of financial transactions. It kinda began with that motto, but scaling issues didn't take a long time to appear.

What Bitcoin is trying to replace, at least from my perspective, is a sociopolitically vulnerable monetary system where the state intervenes and monopolizes money creation. In this new monetary system, people's money is not devaluated due to a few senators' decisions. It does not belong to a government and is fully transparent.

That's what Bitcoin trying to replace. (And of course, peer-to-peer cash via the Internet rocks!)
This is exactly what is happening in my country where the government wants to control the currency and amount every citizen has in their accounts. The government is forcing the people to use the local currency while they are well aware that the local money is losing value. Bitcoin has helped many of us to keep our money safe from this authoritarian policy.

Bitcoin has also created alternatives for hedging against inflation. Before now people used precious stones like gold and silver to protect their money from losing value during inflation. Bitcoin is now the leading hedge against inflation and many people in my location are adopting it.
1019  Other / Off-topic / Re: Don’t play gambling with drugs or in half sleep on: February 23, 2024, 05:54:04 PM
In general dont gamble when you are not fully able to control yourself.
It is not limited to drugs or alcohol, but it can be in other situation as your have mentioned half sleep or other thing is like when we are emotionally bad due to personal issue such as relationship, jobs, or something else.
Controlling ourselves is important, it should be done before, during and after the gambling session to be better.
Some people may have good control before start but it may change completely during or after gambling so it can lead into something unexpected.

There are some activities that one should engage in when in the right frame of mind and gambling is one of them. Anyone who is under the influence of drugs or alcohol should go home and rest instead of going to the casino to waste money. Some games need a lot of concentration and I wonder how someone who is high on drugs will coordinate himself and gamble properly. I usually see drunk people in casinos and from close observation they are not in control of the game. Such a person might not follow his gambling plan and might play above their income. Itv also easy for a drunk person to be deceived or cheated by the casino or bet house attendants because they are not concentrating. I would rather go and play computer games when I am high rather than gamble.   
1020  Bitcoin / Bitcoin Discussion / Re: 21 million of standard gold bars in the world. on: February 23, 2024, 05:29:07 PM
One of my personal assumptions is that Satoshi was orientating himself on gold. If you calculate how many standard bars could be forged from the total amount of gold on earth, you come up with around 20 - 23 million standard bars, depending on the source of information.

Of course, this is only if you add in the estimated unmined gold reserves.
You are wrong. Satoshi did not take any calculation from standard gold bar that can exist. After 2009, many gold reserves have been detected. Some countries that do not know they have more gold later detected that they have more gold. Also that any country can detect  gold reserve at any time. There are more gold that is existing that will be mined than those that have ever been detected.
OP would have graciously given us the source of his information and a proper analysis of his assumptions would have helped us to understand this thread. I am also confused about how he was able to know how many bars of gold would be gotten from the total amount of gold the earth has. Gold is a natural resource that cannot easily be quantified because there are always discoveries.  I read a report where 31 million tons of gold ore, from which an estimated 320,158 tons was discovered in Uganda in 2022. However, an estimate by the World Gold Council puts the figure at nearly 244,000 tonnes. 197,000 tonnes have currently been mined, while 57,000 tonnes are still unmined.

https://www.bullionbypost.co.uk/index/gold/how-much-gold-is-there-in-the-world/
https://energycapitalpower.com/5-biggest-gold-discoveries-africa-2022/

 
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