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1101  Local / India / Re: 12th of Jan 2009 when the first Bitcoin transaction was made. on: January 15, 2024, 02:02:30 PM
4. Some people will no longer think of bitcoin as a scam.
This is one point that I am enthusiastic about. The approval of an asset as an ETF will throw away all those no-coiners and haters out of the window.

Of course some naysayers and conspiracy theorists will always be there but this can be a massive step towards the next generation of adoption of bitcoin. Who knows maybe after ETF approval India might become interested and be lenient to crypto finally?
1102  Economy / Gambling discussion / Re: Casinos and gamblers are struggling with high tx fees.? on: January 15, 2024, 01:59:23 PM
Transaction fees have gone down again but the enthusiasm of gamblers never did inch away even a little bit. They are continuing their pursuits of high multipliers and rolls like they always have been. Like I said previously, gamblers gamble because they are in a hunt to make money with their luck. Here any obstacle to depositing money is shooed away like anything.

Also such times are temporary in the bitcoin network and for the time being altcoins came to the rescue. Eventually it settles and the players are back in order.
1103  Economy / Gambling discussion / Re: Crypto gambling and religious restrictions on: January 15, 2024, 01:56:33 PM
If gambling is a sin for them then no matter what they use to gamble or currency then it is a sin.
They are just lying to their self or making excuse, they might hide it to others by hiding their activities through crypto, but they are aware of what they are doing.
It is just a question of conscience which if not guilty would not mean any harm but if they feel its guilty they will keep getting pestered by their guilty conscience that they committed a sin and they are not a good person anymore.

Basically for any religion gambling is a sin. But the final decision is from our side what we decide to do with our money. A restriction is only a fancy word nowadays, with the different methods to circumvent systems, nobody is actually restricted from anything. So gamble if you feel it is ok to do so but dont if you are guilty about it.

Even today if you ask logically, the long term result of gambling is a loss, so it is wrong to play for long.
1104  Economy / Trading Discussion / Re: The most difficult times on: January 15, 2024, 01:50:33 PM
However, we all know that beginner traders are mostly exposed on losses than gains, and that is normal for newbies in trading. But if they keep learning trading from various trade practices, they will gradually learn on how to trade and on how not to lose but make profits.
Most of them are not willing to do dummy trading before actually putting in money on the line. With dummy trading one can get an idea what to expect and how they would usually react, this gives them an edge over other newbies.

Trading is a long term learning experience and needs patience. Most people will not make profits but reel under losses. In this context remember that trading is not for everyone. Those who understand how to play the market will make profits in the long run by playing it safe and those profits will not be huge. So dont try to make trading you primary earning, but a side hustle.
1105  Bitcoin / Bitcoin Discussion / Re: The risk and reward of having Bitcoin on: January 15, 2024, 01:44:27 PM
The benefits of using bitcoins are greater because I deposit all of my money, holding some money for the long term. And trading by remaining assets which are currently in profit.
Makes no sense, you are dividing the money into two parts, one of which you are depositing and the other "holding"? Then you are trading with the remaining assets? Which part is going into bitcoin and which part into traditional investments? Roll Eyes

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Bitcoin has such security that the owner of transactions can never be traced.
Wrong, it is pseudo-anonymous. Users can be traced by proper means but it is difficult to do the same. If you are more interested in privacy prefer Monero.

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Especially since I have millions of assets invested in them and I walk around with them hand in hand and no one knows anything about me.  But if I were to take these assets out into the open, there is definitely a possibility of robbery.
Who says bitcoin users are not at risk of robbery? People get kidnapped and held at gunpoint to reveal their private keys, what would you do then?

Indeed the long term prospect of bitcoin is good, but you need to be careful with it.
1106  Local / India / Re: 12th of Jan 2009 when the first Bitcoin transaction was made. on: January 14, 2024, 08:47:27 AM
ETF is investing in those funds for which they will get a piece of paper and not actual coins. That is my understanding and I am not a fan of ETF either, the only way Bitcoin gets benefited is that these funds will promote Bitcoin indirectly through advertisement. That will surely help in the adoption of actual Bitcoin in a way that more people in the US would now know about the power of Bitcoin. I am still clueless as to why the price of Bitcoin will straight away as the money from these funds will take time to reach the Bitcoin market.
My current opinion is still unswayed, if I see value in bitcoin's future I will buy bitcoin and not a fund that is traded on its basis. Indeed I carry the risk of owning bitcoin but since ETFs are going to be legal in case they are approved, bitcoin's "outlawing" should become clearer in future.

The common people are scared to invest in crypto because of these factors but they are willing to take the risk. Hence the price rise and the demand for ETFs.
1107  Local / India / Re: Shadow Ban on Crypto Exchanges on: January 14, 2024, 08:43:27 AM
I was wondering if Binance plans to change it URL from Binance.com to Binance.desi  Huh Grin It is possible if they do not feel to comply with the government regulations.
I see you are man of culture there, kemosabe Cheesy

However I tried using the URL to access through an Airtel broadband and Jio broadband, both of which showed timeout - they are blocked by ISP it seems.

Situation is getting grim for those using these international exchanges and we are yet to hear from the government regarding any official ban news. For now, I guess using them needs off-play store sources - which increases the risks too.
1108  Economy / Gambling discussion / Re: Will you be worried or comfortable seeing your elderly mother gambling? on: January 14, 2024, 08:37:07 AM
Gambling can be a part of pathological risk taking behavior - seen in many neurological disorders. Previously easy access to gambling was not there so this did not manifest but now reaching a casino to play in takes a few clicks and add to it the older population invariably suffering from such diseases makes a recipe for disaster.

Indeed finding them better modes to spend their time prevents such events from happening. The internet is not suited for that generation and we younger people have to help them out regarding this.
1109  Economy / Gambling discussion / Re: Alter Ego In Gambling on: January 14, 2024, 07:59:27 AM
We all have a hidden primal side to our selves which we keep under control by the nature of civilization but in times of emotional or hormonal outbursts, this alter-ego manifests and then we learn how much of an animal we actually are, of course we are civilized animals.

A part of this might be a manifestation of hidden desires and needs. Things if getting worse, ask the friend to seek professional help though.

Most people who investing for long with a calm mindset have controlled this alter-ego with practice and time. Indeed it is possible but difficult for many and seeking help for the same is not a weakness but a strength that the person accepts they have a problem.
1110  Bitcoin / Project Development / Re: Dice machine on: January 14, 2024, 07:48:55 AM
Its something new so I would not just shoo away the concept.

If you have a casino running and people are betting on which number if going to end up in each roll/even or odd/red or black and so on, you can develop a niche game based on this "video dice".

If you can market this properly, you can get a lot of customers because gambling sells. How you set up the game to be fair in the next question as @Stalker22 correctly pointed out.
1111  Economy / Scam Accusations / Re: Newbie promoting Ponzi scheme on: January 14, 2024, 07:42:45 AM
update.... I got a mail :

Dear CGMDminer users, hello
The system is being updated. The system has automatically corrected the abnormal funds on January 12, and your account will return to normal. You can now use your account funds to withdraw funds or continue purchasing contract packages.

Dont make any move from your side until you get back all your funds, if you ever get that back that is.

Sometimes scam sites use such tactics to appear verbally sound and attempt to appease the victims to continue using their site with only the sole objective of faking it and not actually paying back, because they are a scam obviously.

Although I have my doubts as to how far these guys are scam, there are some pictures on their site that suggest they might be legit, but I will keep that chance to <0.01% and assume them scam unless proven otherwise.
1112  Economy / Gambling / Re: FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest on: January 14, 2024, 07:38:57 AM
I don’t agree, if you get caught cheating and your account gets blocked than that is your own fault. It doesn’t matter if you invested in FUN tokens or made a deposit. That is the same in casinos also, if you abuse the system, than you can loose your account.
Their TOS is very clear, a big investor does not get exempted from the multi-account abuse in case they try it. That is being impartial to every user on board and not treating someone differently. It is a clear message that that the system should not be abused and abusers will be punished equally.

This type of strict regulations helps keep abusers in control unlike many other sites which have incurred losses.

Regarding bitcoin price movements, indeed it is still on roller coaster and some of my predictions also came out wrong - thanks to the ETF and its related price movements, difficult to make close to correct predictions.

Offtopic:
@SATWAT, please check your signature code properly, there seems to be another line lingering at the lower left corner.
1113  Local / India / Re: 12th of Jan 2009 when the first Bitcoin transaction was made. on: January 13, 2024, 11:25:07 AM
Most early adopters either sold off or invested their money elsewhere or moved on. It is rare to find one of them today or idolize them, rather we should focus on building out own stash of coins.

ETF seems good for price rise, but how much the institutional investors are going to interested in them, only time can tell. There is interest thats why the price is going up. However the early adopters may not even be interested in ETFs, they just want their money to increase in total.

With bitcoin, you need to patient and continue holding and not get stuck at with one new positive thing.
1114  Bitcoin / Bitcoin Discussion / Re: Bitcoin as P2P currency vs Bitcoin as an asset on: January 13, 2024, 11:10:45 AM
At present, for me it is asset>P2P currency because I have limited avenues of spending the money and I am more concerned in growing my stash than spending it. Not every country is crypt-friendly, as you might be knowing.

Number of businesses using bitcoin as a primary means of transaction is much less than those using fiat. The impact of such companies on the economy is thus small but expected to grow in the near future. When that happens the balance will shift towards P2P>>>Asset.

Still then out main objective should be to collect coins for spending in future and now in this decade.
1115  Economy / Economics / Re: What would be your stance if Bitcoin price was individually negotiable as a P2P on: January 13, 2024, 11:06:18 AM
P2P orders are priced against ongoing market prices, you cannot "name your price and get away with it".

Most of the OTC deals going on are also at 10% markup. P2P dealers are not going to loss positions after selling, so you can assume the same type there too. That "Had I known" has very little effect here.

But there is also the fact that 1BTC = 1BTC, so why vary the cost when speaking in terms of USD? This is because of lack of liquidity of bitcoin compared high liquidity of fiat.
1116  Local / Mining (India) / Re: How well people here in india knows about Mining on: January 12, 2024, 04:33:10 PM
There are ways to counter the electricity issue and use those subsidized government projects like the one promoted by by them which uses Solar energy.
Solar power is indeed something new and has been subsidized in many states by the government like UP. But such states are few in number and I would be biased to be speaking from the one I reside in. Here solar power is something people read about in news but has never been applied in reality.

I myself was looking at the projects that common residents in UP have done and posted on youtube and was getting pretty excited about it but sadly its not feasible here.

Cooling costs is something that is the natural downside here.
1117  Economy / Exchanges / Re: onyxchange.com is legit? on: January 12, 2024, 03:50:46 PM
I checked the site myself, does not bring any confidence for me.

I wonder who this "friend" of yours is and whether it was just some telegram rando spamming all members of a group with the same exchange link and you took them as friend? Huh

Still, there are so many legit exchanges out there, use the ones which are used by people from your country without hassle, dont go for obscure exchanges because scams are way common than you can guess.
1118  Economy / Gambling / Re: Which Casino and Sportsbook have the best UI? Which others can improve? on: January 12, 2024, 03:40:01 PM
Majority of the sites have a similar looking UI and Stake was the one which came first in this aspect, most of the recently launched casinos have followed suit. The site blackjack.fun has a psychedelic look which reminds me of vaporwave and I appreciate that a lot, at least someone tries to stand out.

Unfortunately UI is only for looking good, the inside matter needs to be good to be able to hold on to the players/customers. A good UI will bring in players but if the withdrawals/customer service/promotions are bogus, they will not stay for long.

And we all know that casino profits from its regular players not the one offs.
1119  Local / India / Re: 1 Paisa = 30 Satoshi on: January 11, 2024, 04:45:42 PM
It has been around 8 years for me staying in this community and when we look down the line it feels truly amazing to still hang around this forum.
I have learnt so many things over the year being here and seeing bitcoin grow in price and value is one of a kind of feeling.
I started my journey on this when bitcoin was priced at around 600-700$/BTC and from there it is touched 69000$ as all time high. Indeed a huge rise in price and also development in its core.

I used to collect old coins too, possibly I have lost most of them. Due to inflation even the 50 paisa coin is of no value and we are seeing bigger denominations now come in a coins.
1120  Local / Mining (India) / Re: How well people here in india knows about Mining on: January 11, 2024, 04:40:58 PM
Honestly, I think that should be the first thing for anyone coming into the Bitcoin world, to learn about Bitcoin and crypto little bit first and then start his journey into it.
You cant go into too much depth in mining without actually doing it yourself. Besides, most bitcoin users have a basic understanding of how mining works and that is enough for them to get through with daily necessities of bitcoin. Unless they are willing to start mining themselves, that much is enough.

The situation in India is not miner-friendly. I dont think things will change much here, because the natual temp is on higher side and cost of importing miners is also there and so is the cost of electricity.
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