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1061  Economy / Gambling discussion / Re: Tips on staying responsible. on: October 20, 2023, 09:58:17 AM

The other side of all this requires strong mental guidance to become responsible gambler getting used to trying be consistent with the rules that have been made, I think it will work.

Emotional strength is essential in gambling. Being mentally tough is a good start, but it's not enough if you want to maintain discipline. You need to have a heart of steel to survive in the world of gambling.

When you gamble, you typically plan ahead and create strategies that you believe will work. However, there are times when we face losses and feel challenged, especially during losing streaks. We often don't want to experience such losing streaks, and this desire to overcome them can lead to emotional reactions and losing control. Emotions like anger can take over and result in losses due to poor decision-making. In the end, we often regret our impulsive choices.
1062  Economy / Gambling / Re: Casino Junket Operator on: October 20, 2023, 07:26:06 AM
Casino junket counter part in online casino are those Gambling review sites and other that offers extra rewards such as free spin or other form of rewards which they are paying from their own pocket when player sign up using their referral link.

They are not paying from their own pocket, they may already have partnered with the casino, and a particular amount of the wagered amount or lost amount will be shared with the one from whom they are gonna keep making profits as long as the player who used their referral to register and play there.

I don't remember any crypto casino or legitimate casino review offer such investment schemes with fixed returns because its easy to find that its just a scam.

It's highly unlikely that any reputable casino would risk its reputation by offering such an investment opportunity. It's often too good to be true, which could compromise their operations. This investment scheme wasn't even widely known or popular until it was exposed. They didn't target a large number of people; only a few individuals got involved because the minimum investment was, I think, Php 200,000 or roughly around $3,600 each. For the average investor, that's a substantial amount of hard-earned money. Those OFW investors aren't likely to move on easily from their losses.
1063  Economy / Gambling / Re: ⚽️ SPORTBETTING ADVICE ⚽️ on: October 20, 2023, 06:59:17 AM
<snip>
Love this thread. IMO the OP is full of valuable thoughts regarding sportsbetting.  I second all of the thoughts you have presented. I am looking forward on having myself be able to think the way you do in this context. I am just a newbie on sportsbetting so I really appreciate this kind of thread. I might do what you suggested: avoiding placing bets on high odds and overly complex parlays, but rather, put single or double bets on matches that I am well aware about.

That's right! Parlay betting can be fun, but sometimes, when we go overboard, it can be frustrating. Personally, I prefer betting on single bets and using a little Martingale-style approach at the same time. However, it's important to note that I don't implement the full Martingale strategy, where you double your bet every time you lose. Instead, I go with 2 doubles, and then I stop if we lose.

If you're confident in your picks every day, you should also have confidence that within three bets, you're likely to hit one. This way, you can recoup your losses and win one unit. It's an effective strategy for me, but it requires a lot of discipline.
1064  Local / Pilipinas / Re: When do you think is the next bull run will start, and why? on: October 20, 2023, 06:38:26 AM

Itong yong na-google ko. Yong reward lang pala ng mining yon binabawasan pero paano kaya ito nakakaapekto sa market?

Quote
Bitcoin halving is when the reward for Bitcoin mining is cut in half. Halving takes place every four years. The halving policy was written into Bitcoin's mining algorithm to counteract inflation by maintaining scarcity.

Maybe this can help kabayan.

Quote
What is a Bitcoin halving?

A Bitcoin halving, also known as a “halvening,” refers to the predetermined reduction in the rate at which new BTC are created. It is programmed into the Bitcoin protocol and occurs every 210,000 blocks, which is roughly every four years. The halving event halves the block reward, reducing the number of newly minted Bitcoin awarded to miners.

Quote
Supply and demand dynamics

A Bitcoin halving directly impacts the supply and demand dynamics of the cryptocurrency. By reducing the rate at which new BTC enters the market, halving effectively reduces the available supply. As the supply decreases, assuming demand remains constant or increases, basic economic principles suggest that the price of Bitcoin should rise.

Supply and demand is the basic economic principle supporting a price increase in response to Bitcoin’s halving. The law of supply and demand states that prices tend to increase when a commodity’s supply declines, and demand either stays the same or rises. The Bitcoin halving slows the rate of new Bitcoin creation and market release.

As a result, there are fewer newly created BTC available for purchase. The diminished supply produces a scarcity effect, which might push the price upward if demand for Bitcoin stays the same or rises.

Bitcoin’s controlled supply is a key factor contributing to its value proposition. The total supply of Bitcoin is limited to 21 million coins, and the halving mechanism gradually reduces the rate at which new BTC are produced until the maximum supply is reached. This scarcity aspect, coupled with the increasing recognition and adoption of Bitcoin, can create a perception of limited availability and drive up demand, thereby impacting the price.

source : https://cointelegraph.com/news/the-economics-of-bitcoin-halving-understanding-the-effects-on-price-and-market-sentiment
1065  Economy / Gambling discussion / Re: Ban from a Casino for Nothing Other Than Winning Too Much Money on: October 20, 2023, 03:01:38 AM
I don’t get it; the gambler won’t win constinuously ‘coz that’s impossible.
In general, casinos do limit bets, as they don't have an infinite bankroll. In the case you described, the individual is a high roller, placing substantial bets and consistently winning, so he was banned. It was actually Dana White, the President and CEO of UFC.

Also, no matter how big a gambler would wage, a single player’s bet (considering that it is city’s best casino) won’t be enough to cause trouble with the overall bankroll. Maybe this is just an isolated case and others won’t do the same thing.There are other ways to resolve this than to immediately ban a player. Gambling platforms should love players who stake high ‘coz they’d earn from him.If these casinos would continue doing this, then they shouldn’t be in line with the “best” ‘coz they are not having the right bankroll distribution which threatens them of bankruptcy. Problem is not with the gambler but the casino itself.

If casinos are wealthy, and gamblers like Dana White, who consistently earns a substantial income in his business, can easily risk millions of dollars, it becomes painful for the casino when they lose. While banning him is probably not the right approach, limiting his bets may be considered. The question is, would that satisfy Dana White?

Dana White net worth in 2023 is $500, 000,000.. he is a rich guy.

https://www.essentiallysports.com/tag/dana-white/
1066  Local / Pilipinas / Re: When do you think is the next bull run will start, and why? on: October 20, 2023, 01:44:33 AM
2025.
Yan yung karamihan sa mga guess na nababasa ko at parang yan din yung nasa pattern na cycle na year of halving + 1 year para sa bull run.
Katulad noong mga nakaraang bull run halving.

2016 = halving + 1 year = 2017 bull run
2020 = halving + 1 year = 2021 bull run

Kaya baka ang mangyari ay.

2024 = halving + 1 year = 2025 bull run

Nice stats and predictions! If all this plays out by 2025, it's safe to say we won't be left out, considering we've been discussing it here. Those who believe in it won't be wasting any time and will start accumulating Bitcoin.

Given the current price, which is still under $30k, if a bull run kicks in, it's highly likely that the previous all-time high (ATH) will be surpassed. We've seen it go over $60k, so I'm guessing it might hit somewhere around $100k to $150k. This means that our $30k investment now could increase by a factor of 5 by that time. Just by consistently investing in Bitcoin, it seems like we could enjoy the next bull run.
1067  Economy / Gambling discussion / Re: 2023 NBA Season on: October 20, 2023, 01:35:08 AM
Man, this game felt just like a regular season showdown, didn't it? The star players were out there, logging heavy minutes like they always do. These two teams have a real rivalry, especially after that first-round playoff face-off in the West that went all the way to Game 7. If I remember correctly, the Warriors broke the Kings' hearts in that one.

I have to say, I was impressed with the Warriors' ball movement. CP3 was a huge boost for them, and I'm hoping he keeps it up when the regular season kicks off.

And can we talk about Curry? That guy is just insane beyond the arc. He was nailing shots from all over the place, even with some tight defense. Big win for the Warriors, no doubt.
It did feel like a regular season and the crowd is joining them like it is a regular one.  Cheesy Man, I am excited to see both these teams in the playoffs again if ever they will face each other one more time.
And yes, it seems like the rivalry is starting and I don't think it is in a bad way because both coaches are the best in the league. I think Steve Kerr is trying to force Mike Brown to use all his cards and be a better coach and I believe it's working.
Steph with the night-night again and Kings have not lighted their beam yet.

CP3 without Steph is working, and CP3 with Steph is also working, this is getting scary as the Warriors are building chemistry with the Pointgod. The good part is that Draymond Green is not even playing yet.

Last pre-season game for the Denver Nuggets later and they will be playing against the Clippers again. I wish the Nuggets stars could play today.

I totally agree that CP3 teaming up with Curry is a game-changer. With CP3 in the mix, Curry won't have to carry the ball all the time, which means he can conserve his energy. I've got a strong feeling we're in for a better Curry this season, and I wouldn't be surprised if he snags another MVP award.

As for the Warriors, I think they're still somewhat underrated. They're not in the top 3 for winning the NBA championship this season, but that's bound to change. CP3 is a legitimate superstar, and he knows he's in a team where he's got the best chance of winning his first-ever championship. Exciting times ahead!

Meanwhile, didl Poole is GOATing here?

https://basketnews.com/news-196084-jordan-poole-ties-michael-jordans-wizards-preseason-record.html

Quote
   
Jordan Poole ties Michael Jordan's Wizards preseason record

Poole scored 41 points, tying the Wizards preseason scoring record that was previously set by Michael Jordan in 2001.
1068  Economy / Gambling discussion / Re: A Lady Cried After Losing to Sports Bet. Gambling is Not Your Mate. on: October 20, 2023, 01:10:22 AM
well, that what is worrying if there might be criticism or bullying after he uploads the video, maybe he can receive all the criticism or bullying but maybe his family members will also receive the bullying and it would be very sad if that happens because family members dont know what the problem is suddenly getting bullied like that and unconsciously uploading the video has made things difficult for himself and his family.
and I am pretty sure that he only bet a few times in gambling because looking at the story written by the OP he like a beginner gambler who does not know any limits and can not accept all the risks that will occur in gambling. so maybe he really felt sorry when he lost the bet and after that ignored the limit.
Her family members, who didn't know anything about her gambling, would even feel embarrassed if they saw the video of her crying. They might also feel angry and ask the woman why she did it and upload it to the internet because it just shows her stupidity to the public, which is inappropriate. She can tell her family or friends about her gambling losses but not upload them to the internet.

Even if he has only gambled a few times and looks like a novice gambler, he should not bet an amount he cannot afford. She should have realized this before she gambled, but it was too late because she had already lost her money and could not recover it. Hopefully, she is truly sorry for what she has done and will not do it again.

Well, it seems she's already made one mistake by losing in gambling, and now another by venting on social media. You can really see how desperate she is, and it's clear he's in some serious trouble as he's making decisions that aren't ethical anymore. The thing is, once those mistakes are made, there's no turning back the clock. At this point, it's the family's role to provide comfort and support because this is when family is truly needed.

Addiction can be a real financial and life-wrecker, especially in gambling. It's something that shouldn't have happened in the first place. That's why emphasizing education and discipline in gambling is incredibly important to prevent this from happening again.
1069  Economy / Gambling discussion / Re: 2023 NBA Season on: October 19, 2023, 01:33:58 PM
[....]
Wembanyama is probably the heart of this team, and it's undeniable that he's gained a lot of popularity and hype. Let's see what he can contribute to the team. If he can help the Spurs become a playoff team, that would be a good success to start with.
What do you think of this Spurs' line up?
- Wembanyama (7-4) C/F 19yrs
- Jeremy Sochan (6-8) F 20yrs
- Zach Collins (6-11) C/F 25yrs
- Devin Vassell (6-5) F/G 23yrs
- Keldon Johnson (6-5) F/G 24yrs
No doubt SAS is building a team around Wemby. It's pretty much obvious what he could contribute to the team and it's just a matter of him getting serious injuries or not. I would hope he could start the season healthy as I'm planning to bet on his team winning over 30 games.


That's the main concern for players like him. He's tall and mobile, which means there's a likelihood he'll get injured. If that happens, the team will suffer, and the hype will die down. There's no doubt he's a great player. Plus, the fact that he's working with Coach Pop, he's sure to improve under the NBA's oldest coach with multiple championships under his belt. Maybe he can help create another big 3, with Wemby being the Duncan, but possibly even better, given the kid's got plenty of moves!
1070  Local / Pilipinas / Re: Which bull run experience is the best for you? on: October 19, 2023, 12:30:10 PM
2017 was fun but 2021 was more fun.
I registered in 2015, so I found 2017 more enjoyable than 2021. In 2017, there were lots of bounties that I joined, and I made a good amount of money during that time, if I recall correctly. However, in 2021, there were no more bounties, only a few altcoins that required investment, so we needed to raise capital in order to invest.
If it's about the bounties, no doubt that 2017 was like the golden era of it. But if it's about the entire market, I'd enjoy more 2021 because that's when I've taken some cash from the market. So, to each their own and which was the year where we mostly enjoyed depending on how profitable we were during those years.
Yeah, of course, bounties during that time weren't just about bounties themselves. In 2017, it was the era of Initial Coin Offerings (ICOs). I can recall a few altcoins like Lisk and Ethereum that were launched through ICOs. However, it's worth noting that the Lisk project has struggled and is now worth less than $1. In 2017, it seemed like altcoins were more profitable than Bitcoin because even what you earned from bounty campaigns could translate into a significant amount of money. I mean, most of the bounties during that time offered substantial rewards.

Just Imagine how much you make from ETH ICO.

https://icodrops.com/ethereum/
Quote
ICO Token Price: 1 ETH = 0.311 USD

The 2017 was like the bull run that has taught many the lesson that we have to take profits and take those withdrawals. The market won't wait for us any longer when it steps on the bull run and that's why I belong to those folks that have taken the advantage and profit on 2021. Not a lot but more than the year of 2017 when I didn't do a lot of profit taking. I don't hold a lot but it means a lot to me when I was able to get close to the ATH and sold there. I am looking forward to a better bull run and might be bigger than 2021. And as the cycle goes on, those that have never taken profits in 2021 because of greediness. They will for sure gonna apply the lesson they learn from there and will not have a second thought on selling when bull run appears likely on 2024-2025.

The 2017 bull run actually taught us a lot. It showed us that nothing is forever. During that time, some of us thought that the bull run would continue indefinitely, but it corrected after reaching its ATH, and the market slowly declined. The same thing happened during the 2021 bull run. So, we already know the trend or the drill: we buy during the bear market and sell during the bull market.
That's true, it has given me the confidence that it's like gonna be forever but it just showed that it's not. And that's why I enjoyed more 2021 than 2017 because the lessons that I got from 2017 were applied during 2021. Not that much to say that I've made profit from it but still, some good amount didn't I missed.


As we experience more bull runs, it also helps us become more mature and wiser in making decisions. So, for the upcoming bull run, we shouldn't waste time and opportunities. We have to enjoy it and aim for big profits, and it all starts with accumulating.
1071  Local / Pilipinas / Re: When do you think is the next bull run will start, and why? on: October 19, 2023, 11:38:57 AM
Gusto ko rin makita yong mga replies ng mga beterano dito sa forum na may alam tungkol dyan sa halving kung tataas ba yong presyo or status qou lang muna.

Pero sa obserbasyon ko ay going north naman yong presyo ng bitcoin, tumaas siya ng kaunti nitong nakaaran linggo, baka nag-iipon na siguro ang mga tao para sa darating na halving at makasabay sa bull run.
I've been on this forum for a while, but I can't quite call myself a veteran just yet. So, okay, let's wait for their reply. They might provide valuable insights that could inspire those of us who haven't started investing yet.

Personally, may target ako kung ilang mbtc ang iipunin ko, mas mabuti siguro na instead sa banko mo iimpokin yong pera mo, convert nalang natin to bitcoin ay maghintay sa bull run.

Setting a target is the first thing we have to do, and the rest will follow. Saving money in the bank is different from investing it in Bitcoin, as you rightly call it an investment, not savings. I know you are a gambler, so I understand that you're a risk-taker. I believe you've had success in gambling, so why not continue to gamble with your Bitcoin, letting it grow through trading and let the bull run take care of increasing its value.
1072  Local / Pilipinas / Re: Which bull run experience is the best for you? on: October 19, 2023, 11:17:24 AM
2017 was fun but 2021 was more fun.
I registered in 2015, so I found 2017 more enjoyable than 2021. In 2017, there were lots of bounties that I joined, and I made a good amount of money during that time, if I recall correctly. However, in 2021, there were no more bounties, only a few altcoins that required investment, so we needed to raise capital in order to invest.

2017 is indeed the time when there's a lot of bounty campaign. That was also the time when merit was not a thing to rank up or to join in a signature campaign. Anyways, for me, it was 2021. it hits really differently from 2017. Because last 2021, for sure it did not only happen to me, but a lot of us here were also able to earn and help other people through NFTs or the P2E games.
Those were the golden times because you didn't need merit to rank up; you just had to complete your activities to reach the highest rank. Unfortunately, with that system, there were lots of spammers at that time, and accounts were being sold because ranking up was easy. This is why the merit system was introduced. However, to be honest, I benefited from that era because before the merit system was introduced, I had already reached the legendary rank.

The 2017 was like the bull run that has taught many the lesson that we have to take profits and take those withdrawals. The market won't wait for us any longer when it steps on the bull run and that's why I belong to those folks that have taken the advantage and profit on 2021. Not a lot but more than the year of 2017 when I didn't do a lot of profit taking. I don't hold a lot but it means a lot to me when I was able to get close to the ATH and sold there. I am looking forward to a better bull run and might be bigger than 2021. And as the cycle goes on, those that have never taken profits in 2021 because of greediness. They will for sure gonna apply the lesson they learn from there and will not have a second thought on selling when bull run appears likely on 2024-2025.

The 2017 bull run actually taught us a lot. It showed us that nothing is forever. During that time, some of us thought that the bull run would continue indefinitely, but it corrected after reaching its ATH, and the market slowly declined. The same thing happened during the 2021 bull run. So, we already know the trend or the drill: we buy during the bear market and sell during the bull market.

Question, when do you think is the next bull run?
That was the year that gave us a lot of experience and realization of the things we should do. It's the kind of experience that tells us to be more prepared for the next bull run. It teaches us not to become a victim of FOMO and to be early to hold as much as we can.

FOMO and FUD, I believe, can lead to repeated patterns. If we are not emotionally mature, we may find ourselves experiencing these feelings again and again, essentially making the same mistakes repeatedly.


Quote
I've been thinking that the next bull run will be in the year 2025 which is the same as the other post I can see. I think this is possible as the take effect of halving takes a few months, or a year just like in the past.

That means we still have plenty of time to accumulate. Maybe Bitcoin won't experience another major dump, so I believe that the current price represents a good entry point if you haven't accumulated yet.
1073  Local / Pilipinas / When do you think is the next bull run will start, and why? on: October 19, 2023, 08:55:17 AM
This is related to my question on the thread created by @maslate. Since there's a lot of talk about a bull run, we might as well discuss it here. I would like to hear from the community about their predictions regarding when they think the bull run will start. Since the halving is approaching, and by looking at its historical patterns, it could be more likely next year. So, what do you all think, and what are your reasons for your guesses?
1074  Local / Pilipinas / Re: Which bull run experience is the best for you? on: October 19, 2023, 08:38:35 AM
2017 was fun but 2021 was more fun.
I registered in 2015, so I found 2017 more enjoyable than 2021. In 2017, there were lots of bounties that I joined, and I made a good amount of money during that time, if I recall correctly. However, in 2021, there were no more bounties, only a few altcoins that required investment, so we needed to raise capital in order to invest.

The 2017 was like the bull run that has taught many the lesson that we have to take profits and take those withdrawals. The market won't wait for us any longer when it steps on the bull run and that's why I belong to those folks that have taken the advantage and profit on 2021. Not a lot but more than the year of 2017 when I didn't do a lot of profit taking. I don't hold a lot but it means a lot to me when I was able to get close to the ATH and sold there. I am looking forward to a better bull run and might be bigger than 2021. And as the cycle goes on, those that have never taken profits in 2021 because of greediness. They will for sure gonna apply the lesson they learn from there and will not have a second thought on selling when bull run appears likely on 2024-2025.

The 2017 bull run actually taught us a lot. It showed us that nothing is forever. During that time, some of us thought that the bull run would continue indefinitely, but it corrected after reaching its ATH, and the market slowly declined. The same thing happened during the 2021 bull run. So, we already know the trend or the drill: we buy during the bear market and sell during the bull market.

Question, when do you think is the next bull run?
1075  Economy / Gambling / Re: Casino Junket Operator on: October 19, 2023, 03:09:55 AM
I’m still confused what’s their main purpose but they are the one who partner with the casino to lure VIP players in the form luxurious offer such as accommodation and travel trips just to make them play in the casino. In return, they will get profit sharing on the total amount spend by their recruits. Casino junket counter part in online casino are those Gambling review sites and other that offers extra rewards such as free spin or other form of rewards which they are paying from their own pocket when player sign up using their referral link.

I become curious on this subject since there’s a big scam incident on my country that involves casino junket operation as business front in exchange for investment. They are offering 5% income per month to all investors which we all know that is already a ponzi.

https://entertainment.inquirer.net/522430/yexel-sebastian-asserts-casino-junket-is-legit-amid-investment-scam-accusations

I’m just thinking if there’s still some casino offers this type of luxurious reward to their players aside from rakebacks.

Yexel had already flown to Japan when he smelled or felt that he was going to be charged, so before he was given a hold of departure, he also took the lead. I don't even know why the casino junket was used to find a victim.

As far as I know, the investors will be given 5% per month with a minimum amount of at least $18,000 as the capital starter. It's like my understanding is that your junket money will be used to gamble; it's like that. When you agree, they will pay 5% interest. But no one eventually had a problem that after a few months the capitalists did not receive 5%, and I also think that no casino offered such 5% per month to investors; that's when they didn't realize it was a Ponzi scheme that he

That's the usual scheme. In the first few months, they will give a monthly return to investors to make them feel inspired and encourage them to recruit other investors, promoting it as 'legit.' However, little do they know that the scammers already had a game plan in place, and an escape plan was ready before they even faced legal consequences. It's a typical scam that even some influential people in the community fall for. The combination of lack of knowledge and greed for money can be a dangerous mix.
1076  Economy / Gambling / Re: Casinos not asking for KYC to register and play, but do require it to withdraw on: October 19, 2023, 02:46:24 AM
Casinos try to satisfy their clients but must follow the rules of the regulator, so the casinos change their rules. We must be aware of this, and if we want to avoid following the new rules of the casino, we can move to another more friendly casino. It is our choice to stay or look for another casino, and the casino will not force us to stay just because the casino wants to retain its customers.

Exactly, instead of complaining, why waste time on that? Just move on and look for other casinos. KYC is already implemented in most legitimate casinos, so we should always be aware of that. They might not require it at the beginning, but eventually, they'll ask for KYC information, and as usual, gamblers need to comply to continue enjoying gambling. With a huge number of online casinos, we do have plenty of options, but are they all reputable?

The risk of transferring between different casinos, some of which may not be so reputable, is that you might avoid KYC, but you'll likely face a higher risk of losing your money in the process. We need to be realistic about this matter, as regulators have already made their presence felt in the crypto gambling space.
1077  Economy / Gambling / Re: Casinos not asking for KYC to register and play, but do require it to withdraw on: October 18, 2023, 02:03:04 PM
Some gamblers may not mind doing the KYC so that they can withdraw there funds to avoid there accounts being locked.

That's an essential requirement, and we absolutely need to comply with it; otherwise, we can kiss our funds goodbye. While some casinos may not implement KYC right away, the moment they do, we should be prepared to comply with it. I don't quite understand why some people still expect that there are reputable casinos these days that don't require KYC. All reputable casinos are now regulated, and therefore, they are obligated to implement such measures.
1078  Economy / Gambling / Re: Casino Junket Operator on: October 18, 2023, 01:35:34 PM
Yes, this is currently one of the most prominent news stories in the Philippines. This couple managed to amass hundreds of millions of pesos through their scam. They presented the casino junket as a legitimate operation, which, I believe, isn't in question. However, their activities, where they used the casino junket to attract investors despite not fully operating in the same way, raise a lot of red flags.

Here's the catch: when they offered a 5% monthly return, investors didn't seem to mind much about the inner workings of the business once they had invested. All they were concerned about was receiving that 5% interest income on a monthly basis. It's only when that income didn't materialize that they took action and filed a case against the individuals who had attracted them to invest. The big question now is whether the money can be recovered.
  This is why one has to be more careful when clicking links online, especially when the links has all this enticing offers, remember not all that glitter is gold. You might think oh yeah this is it, but you failed to put into consideration that money can’t be made easy. You have to go through risk and work to get to the reward. There are lot of Ponzi scheme companies hiding behind the name of betting or casino. We fall to this trap when we fail do our own research. Ignorance is a disease and can cause a lot of damage. There is always a red flag when you see a Ponzi scheme, but we turn on blind eyes cause of the fake promises promised by the said Ponzi system.
  We have seen in some case where investors losses their money and the company gone to extinction, it on rare cases the money can be recovered and this can be done with the help of the higher authorities. Depends on how much was stolen. And even when the funds are recovered, I doubt if you will get the exact amount you paid in the initial, you will rather get a compensation claim. A lot of people have fall victim to this type of scam if you ask they hardly get their money back. In other not  to be an example to this scandal, we ought to do our own research before making any moves of investing. Like wise they are lots of opportunities online they are also some that will break us if not properly followed.

This is different from online investment; it's more like an investment where recruiters are seeking potential investors to join the program. And of course, these scammers will try to sell them on the business and, most importantly, the kind of rewards they'll offer to the investors. What saddens me is that even OFW (Overseas Filipino Workers) who labor abroad to save money for their future fall victim to this type of investment.

Hopefully, those involved in these scams will be put behind bars, so future scammers will think twice when they see the government taking this issue seriously. Actually, this isn't the first time; there have been bigger scams before, if I'm not mistaken. Yet, there are still many people falling for these scams. It's as if they haven't learned from other people's mistakes or even their own.
1079  Economy / Gambling / Re: No KYC Crypto Casinos & Sites | NoToKYC.com | Exclusive Bonuses on: October 18, 2023, 12:47:20 PM
In my opinion, KYC requirements in regulated gambling sites can be viewed from a security perspective. When we gamble on a site that is regulated, it often means the operators need to adhere to certain security and transparency standards. These standards include verifying the identities of their users to prevent fraudulent activities.

As for me, the main problem with the KYC requirements both at gambling sites and centralized exchanges is that it is not known how exactly and for what purpose the personal data of users are used. I mean that if you give your personal data to any company, you shouldn't be surprised that your data can be stolen and used by malicious people at any time. Unfortunately, there have been many such cases in the crypto industry.

That's a concern for many gamblers. But the question is, can we avoid the KYC requirement when it's mandated by the regulators for gambling sites? It seems like we have no choice here. The options are clear: either the gambling site implements the KYC policy and continues to operate, or they choose not to implement it, risking the cessation of their business.

As gamblers, we're left with little choice in this matter. If we want to gamble, we have to comply with KYC, and that's the unfortunate reality.

While there's a concern that our identity might be stolen, it's crucial to remember that the responsibility for protecting our information lies with the gambling sites. Regulators could penalize them if such breaches occur. However, as gamblers, we're well aware that sharing our KYC information carries potential risks, and we accept that risk when we sign up.
1080  Bitcoin / Bitcoin Discussion / Re: Wow! US Gov among largest Bitcoin hodlers with over $5B in BTC - and Tim Draper? on: October 18, 2023, 12:08:23 PM
That's a very huge amount of bitcoin, which would really have a great impact on their economy, but if they can keep holding it until the price goes above $300k–$500k, selling the bitcoin now at auction will cause the market to dip, and the government will still utilize the money and might still see the value of the sold coin grow anytime they look back at the old wallet. If they sold all that holding, do they think they might be able to archive such an amount of holding in the near future? IMO, I think they might not be able to get such an amount from hackers unless they will have to buy and reserve, of which now is the opportunity to still hold tight to what they have rather than selling off.

I doubt the government would consider what they possess as investment funds. Remember that the bitcoins they have likely stem from illegal activities, so their inclination would probably be to sell them once there are no claims and if the court orders it, those assets will become state income. If the US government had a Bitcoin investment program, they'd likely make it public knowledge. After all, the money they manage primarily comes from taxes, so keeping it secret is unconstitutional.

Regarding the seizure of Bitcoin, I don't think it will be auctioned. The market has changed significantly since 2014, with a much larger trading volume, making exchanges very liquid.

As we can see on CoinMarketCap, Binance has a daily trading volume of over $6 billion, while the U.S. holds only $5 billion. They could handle it, but it might cause an instant dip and short-term panic. So, they probably won't do that since it would harm the crypto market they've already regulated. I believe it will be sold on a schedule, gradually rather than all at once.

https://coinmarketcap.com/rankings/exchanges/
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