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10541  Economy / Economics / Re: A Sudden Price Drop in The Crypto Markets on: May 20, 2021, 04:03:40 AM
no need to worry - i sold my assests today so i am sure everything will go up from now on  Smiley

No surprise there. Given your rank, I was expecting something like that. Whenever a dump occurs, it is the inexperienced users who first rush to sell their coins at rock bottom prices. And the whales and the institutions use this opportunity to accumulate more coins. It has been posted manytimes not to fall in to the trap of panic selling, but hardly anyone listens. The prices seems to have plateaued out and those who sold their coins now are going to regret about their decision later, when the next rally takes BTC above the 100K level. 
10542  Economy / Gambling discussion / Re: Man lost £20,000 in one night after becoming addicted to online gambling! on: May 20, 2021, 03:53:29 AM
Just because you made $100 out of $10 one should not feel happy and stay positive. In all aspects of life we need to have positive mind. With gambling this needs to be different. I'm an example for the same. Just because I made $500 out of $200 I had a big dream. This has finally made me loss around $20000 in less than three months.

That's how it works in gambling. In the beginning, you may win small amounts and your confidence level will hit the roof. And then the losses start to roll in. You refuse to admit that you are getting unlucky with the games and then start chasing after the losses. And it reaches a point where you will suffer from irreversible losses. Experienced gamblers know how to avoid this situation. It is mostly first timers who get trapped in the never ending cycle of losses. But in the end, the individual is responsible for his actions.
10543  Economy / Gambling discussion / Re: Fully vaccinated individuals now spared of masks in the casinos in Vegas on: May 20, 2021, 03:41:16 AM
This is the beginning of trend of business that will apply similar measures. Casinos are notoriously know for lobbying heavily against most regulations that could prevent their gest from enjoying the experience without any interruption nor need to pause. Once they apply this, all business out there will want to do the same and, to be honest I think they should. The incidence rates seem to be controlled, and the virus variants are not peaking again the numbers as to be a cause of concern.

During the last 24 hours, there were 636 deaths and 28,541 new cases reported from the United States. This shows that the regulations need to be in place for at least a few more months. A lot of people are still dying from COVID despite the vaccination campaign, and at this point it looks too early to remove the restriction on masks. The daily infection rate per 100,000 people stands at around 8.5, which is still a very high level. If people get complacent too early, then it will prove to be costly.
10544  Economy / Economics / Re: We entered a bear market earlier than expected on: May 19, 2021, 05:03:28 AM
The problem with Bitcoin is that the users expect the prices to go up forever. They are not prepared for any correction. And as a result when the correction occurs, the vast majority of the users will be unprepared. A lot of people actually believed outlandish claims that Bitcoin would touch $250,000 or $300,000 in a few months time. And some of the users didn't even booked their profits when the prices surged past the 50K level. Now I won't be surprised, if the prices go back to 30K-32K levels.
10545  Bitcoin / Bitcoin Discussion / Re: I bought my first 500 us dollars Bitcoin! on: May 19, 2021, 04:42:31 AM
The best thing to do right now is to keep investing a small amount of your spare money in bitcoin or other well known altcoins. Maybe try Ethereum. You won't be disspointed.

I will not recommend spending your money on altcoins right now. Because whenever we have a bearish phase with Bitcoin, it has been noticed that the altcoins go down even more. And I am expecting a bloodbath in the altcoin market, because during the last few months most of the altcoins have gone up much beyond their fair valuation. The bubble has to be burst, sooner or later. If you want to accumulate, then do that during the correction phase and not right now when the valuations are inflated.
10546  Bitcoin / Bitcoin Discussion / Re: Bitcoin Is Not Disappearing At Least Until 2140. HODL! You Have Diamond Hands! on: May 19, 2021, 04:28:48 AM
Mining reward has no connection with the acceptance and adoption of Bitcoin. So it is not going to matter whether mining will continue until 2140 or not. Anyway in 15-20 years, the mining reward will be too low that the fee reward will make up for the majority of earning for the miners. But whether Bitcoin will remain on top or not depends on the continued development of technologically advanced cryptocurrencies. Now it is the turn of 4th Gen crypto. Let see whether they will be able to do something, that second and third generation cryptos failed to do (i.e to topple Bitcoin from the no.1 position).
10547  Economy / Gambling discussion / Re: Manny Pacquiao offered $10 million to fight Terence Crawford on: May 19, 2021, 04:18:14 AM
I agree! this promoters also spend money to bring those unknown fighters and give them names, it's his right to earned from his investment right?

Now that those well known fighters already earned much and they are capable in paying the contracts it's their right or it's on their decisions whether to pay and go out or continue to work with those known promoters.

Bob Arum is not the only one for sure, there are lots of people inside sports communities who also make this thing for a living.

I would say that breaking a contract is very unethical in any field. Now the athletes may offer some monetary compensation in return, but still it leaves a bad taste on everyone. If the contract is signed for a specific period of time, then my opinion is that the athletes should abide by the terms and conditions for that duration which is marked out. Everyone is aware of the terms when they sign the contract, and there is no point in complaining later that some of the conditions are too exploitative.
10548  Economy / Gambling discussion / Re: T20 and T20I cricket prediction and discussion on: May 19, 2021, 04:07:40 AM
The BCCI was able to conduct the IPL successfully in the UAE bio bubble last year and we never had any issue and this year when India had its worst second wave of the pandemic the BCCI was confident that they can carry on with the tournament in India itself and they have learned their lessons the hard way, it is better for them to shift the tournament to UAE as nothing will change in the next two months as well.

They are very adamant about both the tournaments (remainder of the IPL and the T20 World Cup). The BCCI want both these tournaments to be conducted in India, despite the obvious risks. Other boards have requested them to shit the tournaments to UAE soon, so the arrangements can be made. But the BCCI have turned down those requests. I am more worried about the T20 World Cup. If the BCCI refuses to move it to the UAE, then teams such as Australia and New Zealand may end up boycotting the tournament.

The BCCI has scheduled a Special General Meeting on 29th, in which hopefully the decision will be taken and there is an ICC meeting on June 1st. There will be more clarity after these.
10549  Economy / Economics / Re: The Reason Bitcoin Investment will be preferred more than Oil on: May 19, 2021, 03:57:19 AM
I don't know whether a lot of people chose to invest in crude oil. I have seen people trading in crude oil, but I am yet to hear from someone who invests in crude oil (is the OP talking about investing in petroleum companies?). Some of the cryptocurrency users think that the entire world revolves around them, and that needs to change. You can run an automobile with either gasoline, electricity or natural gas. Bitcoin is not suitable for this purpose. So there is no point in comparing these two entirely different assets.
10550  Economy / Gambling discussion / Re: Ohio offering lottery prize worth one million for those that get the COVID shot on: May 19, 2021, 03:47:05 AM
This is a very insidious way to get someone to do something they don't want to do - everyone should have the choice to get vaccinated or not, not to increase vaccination statistics in this way, which just means that the usual strategies don't work.

In Europe, we have a case where Serbia has offered 25 EUR ($30) to everyone who gets vaccinated before the end of this month - because they have large stocks of Chinese and Russian vaccines that simply no one wants. These are not incentives, but only desperate measures to justify a system that claims that vaccines are necessary and safe.

If you are having surplus stocks of the vaccine, then thank your government for that. Here in India, everyday I am witnessing deaths in front of my eyes. And in 99% cases, the deaths occur among the unvaccinated group. The government made a big mistake by prioritizing the elderly and middle aged (>45 yrs) for vaccination and as a result now most of the deaths are occurring among the younger age groups. And I don't know much about the Chinese vaccines, but Russian vaccines have been proven to be very effective.
10551  Economy / Economics / Re: Tesla Bought 1.5 B in Bitcoins on: May 19, 2021, 03:37:22 AM
According to fillippone, Tesla is still in profit from their Bitcoin investment (if the initial purchase price was around 32K). As per the current exchange rates, they are worth some $1.725 billion (i.e an unrealized gain of $375 million). The Tesla shareholders can't blame Elon even if he sells all of the BTC now, because even then they will be in profit. But I can't guarantee that there won't be any action from the SEC, if they do that immediately.
10552  Economy / Gambling discussion / Re: Fully vaccinated individuals now spared of masks in the casinos in Vegas on: May 19, 2021, 03:27:49 AM
Do we have a list of current available vaccines made out by different companies and showing it efficacy? Im trying to find out to make out some comparison but i failed to do so.
Time would only tell if this kind of method will work and wont really be showing off some negative effects on releasing the protocol.

How i wish that we would really be going back into normal living without hesitation on going out.If this one turns out to be good then this might
be the start of going back to our normal lives but i still hesitating because vaccines arent 100% effective.,

You can check the Bloomberg vaccine tracker (section: Vaccine Timeline). They have listed various vaccines, details about the manufacturer, number of doses needed, efficacy in percentage and the storage requirements.

https://www.bloomberg.com/graphics/covid-vaccine-tracker-global-distribution/

Right now 9 vaccines are being used in a global scale. A few more have been approved by specific countries and used internally (examples are Covaxin by Bharat Biotech in India and EpiVacCorona from the Vektor State Research Center in Russia).
10553  Economy / Gambling discussion / Re: Dubai's Government and Gambling on: May 19, 2021, 03:16:52 AM
We do not know if they do not need additional income because they will not tell the public if they need more income. All of the natural material will be gone someday, so their government needs to renew their income for their country. Yes, they are one of the richest countries in the world, but there is no guarantee they will become like that.

Even if the crude oil and natural gas becomes worthless all of a sudden, the economy of the UAE won't be impacted much. Because unlike the other GCC nations, UAE has already been very successful in diversifying their economy. They were able to attract the service industry, by imposing zero corporate and income tax. So they are already in a very comfortable position and as of now there is no need to find any additional avenues of revenue by opening casinos.
10554  Bitcoin / Bitcoin Discussion / Re: who wants a carbon neutral bitcoin ? Plant a 100 trees for 300 USD on: May 18, 2021, 04:20:24 AM
Planting trees and claiming that it will be good for the planet is nothing but a publicity stunt. Planted forests are not as effective as natural forests in combating climate change. And unfortunately, natural forests are being destroyed at an alarming rate across the world and being replaced with plantations and pastures. If we want to combat climate change, then please stop these publicity stuns and try to save the natural forests. Deforestation rates have hit record highs in countries such as Brazil and Colombia recently.
10555  Economy / Gambling discussion / Re: Dubai's Government and Gambling on: May 18, 2021, 04:10:21 AM
You are right - the economy will put everything in its place and if cryptocurrencies are an integral part of the future, then any religion will have to come to terms with it. Nikaka, the most totalitarian and strict religion, cannot resist the progression, because in this case it loses in the number of its admirers and dies out.

I don't think that the idea of cryptocurrency is incompatible with any of the religions. First of all, the basic idea of cryptocurrency is that of a digital asset which is protected against inflation as a result of controlled supply. I don't think that any of the Islamic tenets ban such an asset. As far as I know, Islam only bans taking interest on loans, which is not applicable for cryptocurrency. Even if there is some aspect of cryptocurrency not compatible with any religion, the leaders of that religion can create a new cryptocurrency that is compatible.
I don’t think releasing a license is possible in Dubai. Not even an approval to operate. No connection is stronger than their principles, values, and religion’s natural law.

Dubai has a majority of 80% Muslims. And in Muslim, gambling is “Haram”. Haram is something that is unacceptable and has to be stopped immediately. Unless you want yourself hanged or you beheaded.

Dubai is strict enough that even it’s their family member who would like to establish a gambling platform, they would point a gun at that one. Besides, gambling could not survive in Dubai, people won’t hesitate to avoid it because their rulers are good.

I wasn't mentioning gambling in that post. I was mentioning cryptocurrency, as user KTChampions was arguing that cryptocurrency is haram as per the Islamic law and Muslims should not be owning it. I know that gambling is haram as per the law, but there is no sufficient proof to claim that cryptocurrency is against the sharia law. Read my post again. And I guess I have already mentioned in my post that obtaining a gambling license is not possible in the UAE, because it is banned there.
10556  Economy / Economics / Re: Preparing for a capital gains tax increase (US) on: May 18, 2021, 04:00:40 AM
Everyone expects the Bitcoin prices to go up for ever, so when the correction occurs (similar to what happened in 2014-15 and 2018), most of the users are not prepared. Given the fact that Bitcoin prices have gone up by 400% during the last 12 months, there is some possibility of a correction occurring in the next few months.

As Theymos pointed out, the tax increases can't be implemented retroactively. So for sales being made up to March 31, 2022 the new taxes are not applicable. If you were having plans to sell some of your coins in the next 2-3 years, then it won't be a bad idea to do it before the date that I mentioned earlier. Two reasons - 1. taxes are going to increase from 1st April 2022 and 2. Republicans are unlikely to win the 2024 elections.

Also, there is a proposal from the Democrats to tax unrealized capital gains. This is where it gets really scary.
10557  Economy / Economics / Re: Tesla Bought 1.5 B in Bitcoins on: May 18, 2021, 03:50:31 AM
This is the thing... in order to "punish" him for manipulating the markets you have to prove he profited off the manipulation or manipulated to benefit those close to him. It's an almost impossible standard, made even harder by the fact that he's a troll and an asshole who shoots his mouth off about all sorts of things.  The morale of the story is you shouldn't be doing anything Elon says because he's a total basketcase.

Elon doesn't need to benefit from this directly. What if he had asked some of his friends to accumulate a few billions worth of Dogecoin, before he pumped it? (I don't even know whether it is possible to purchase that much Doge, given the limited liquidity of that coin). In this case, there is nothing that links Elon to the profiteering from Dogecoin, but eventually he is getting the benefit. But I agree that these sort of arguments doesn't stand before the court. In the end, the fault was ours, for giving too much importance for this mentally deranged lunatic initially.
10558  Economy / Gambling discussion / Re: Ohio offering lottery prize worth one million for those that get the COVID shot on: May 18, 2021, 03:40:24 AM
for those who believe that Vaccine will bring risk to their health surely wont risk this Bet of their life just to have a million dollar chance.

Me? lol i would rather not win 1 million than to make my self uneasy from that vaccine.

I don't know why people are still resisting vaccination. Already more than 1 billion people have been vaccinated around the world. If this vaccine was so bad, then millions would have died and many more would have become handicapped. Has any of that happened? Unfortunately these people who are refusing to get vaccinated are posing a health hazard to others around them. Because unless 70% of the population is vaccinated, herd immunity can't be achieved. The unvaccinated people will continue to be carriers of the disease and it will linger on until the effects of the first vaccination campaign is gone (the effect of vaccine only lasts for 1 to 5 years, and after that it needs to be repeated).
10559  Economy / Gambling discussion / Re: The Cricket Match-Fixing Scandal on: May 18, 2021, 03:30:11 AM
It is not something new to the table, Op. Matches were being fixed since the sport was born because every player has a weakness and these bookies or parties who don't want a specific team to win, bribe players either through money, girls or even drugs. You should watch an Indian web series called 'Inside Edge' because it has all the facts you should look into, and it is also related to gambling, but a corporate (insider) level gambling, not what we do.

Match fixing is a relatively new phenomenon, at least as far as cricket is concerned. It existed for many decades, but large scale match fixing started only when underworld gangs from India and Pakistan started their activities from UAE and the other Gulf nations (cricket match fixing is still under their monopoly). And given the popularity of cricket in the Indian subcontinent, and due to the fact that legalized gambling is not possible in India, the criminals soon seized on the opportunity and made it a multi-billion Dollar business. 
10560  Economy / Economics / Re: Tesla still an unprofitable automaker on: May 18, 2021, 03:20:11 AM
Not really relevant to an assessment of operating cost since being in an accident isn't routine and part of the normal cost of owning a car.  If you get in a lot of accidents, yeah, it's an obvious down side.  If you get in a lot of accidents, you're also probably not the type of driver who buys anything other than total garbage cars anyway.  Range is only a concern for the vast minority of drivers since the number of drivers who drive more than a couple hundred miles in a day is so small.  Operating costs are superior for EVs over gas-powered cars for everyone else.

Operating costs may be lower for Tesla, but the huge expense for maintenance take away that advantage. If I am not wrong, the battery needs to be replaced every 5 years or so and it costs at least $35,000. On the other hand, a gasoline-driven car doesn't need any major replacements for at least 20 years. And regarding accidents, they can occur anytime. You can't just say that all of the accidents happen due to the carelessness of the owner. And in case that happens, the Tesla owner will be in deep trouble.
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