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1201  Economy / Economics / Re: Why do people stay poor? on: May 11, 2023, 07:31:17 PM
I have always wanted to ask this question is it that there is no opportunity or they do not want to get rich
Mate please more to this I am confused here.

Education may be able to elevate you higher than your parents were able to achieve, because standards are generally raising higher over the decades. However things like a poorer diet, the lack of experience opportunities due to lower salaries of your guardian and potentially less nurturing due to them having to work longer hours are among small factors that can collectively build towards a stunted growth experience compared to peers with richer parents.
1202  Economy / Gambling discussion / Re: Questions of the day for gamblers on: May 10, 2023, 08:01:44 PM
If a online casino claims to be a decentralized platform does this mean that their games are fully decentralized too?

Do you guys know that some casinos regulates their own slots machines themselves, can you gamble with ease of mind on such casinos?

If slots games is all you are good at, are you really good at it or you are just lucky? Can you use the word 'good at it' with slots game?

What is the most convenient games you play on gambling platforms?

Is using leverage about luck or skills? Or even a rigged game?

Using "leverage" has no meaning in gambling because you have no influence or knowledge of the outcome. Leverage is an empty illusion, another gimmick buzzword that casino's work into their narrative to pretend that the customer has any degree of control. If one party exists to take money from the other, and specifically engineers that outcome, then leverage has absolutely zero meaning. It simply means that you will lose your money faster if it multiplies your losses. It's always a rigged game when no skill is involved.
1203  Economy / Economics / Re: Bittrex Files for Bankruptcy in Delaware on: May 10, 2023, 07:45:10 PM
I am not skeptical but now I have started to think that US is really looking at down side of the crypto currencies throughout the continent. Now if someone is really trying to convince me that congress had meet up regarding the bitcoin and have plans for proper infra structure then I would simply laugh on that.

This is a 5th case in the US alone where giant exchangers, banks, and other type of financial institutes have been strictly monitored, dug out for unreal information, had worst tax evasion complaints and finally making them go bankrupt as the investors lose faith due to such allegations. A similar case is now popping up and its well known exchanger Bittrex.

In Bittrex case, it was none other than SEC who sued them and months after trial and testing Bittrex goes for bankruptcy filing.

Key Points:
  • Liabilities: $500 to $1 billion
  • Lay off 80 employees in february
  • SEC sues Bittrex CEO and Global CEO
  • Lack of regulatory clarity in the U.S.
  • They still posses 100% customer funds

Congress meeting to come up with a plan for crypto infrastructure, eh? Crypto is meant to be decentralised, why would you want them involved in deciding the future direction of it? The less interaction they have in its future the better quite frankly. There is however a bit of naivete involved here as well, as if crypto related entities can do no wrong and that somehow any government clampdown is a bad thing. That's incorrect and it's good that regulators are casting an eye over these companies that are accepting hundreds of millions in deposits and taking action when necessary.
1204  Economy / Gambling discussion / Re: Another side of Sports betting you may not know about on: May 10, 2023, 06:56:56 PM
Quote
Congress has long-recognized the potential harms posed by sports betting to the integrity of sporting contests and the public confidence in these events.

This topic stems from the suspension of Jameson Williams for 6 games because he violated the gambling policy. I dug a little and found out the reason for the policy. My understanding of this is that there are two sides to sports betting, the gambler's side and then sports contest games. But this is the first time I am reading that sports betting can affect the game negatively and results in reduced public confidence. Does this apply to the NFL only? What about soccer and other sports? Are they exempted? Let's talk about this.

Any time bet rigging is found the consequences should be very severe (and often are) because it is such a devious way to defraud, but also very hard to gather evidence on. We only hear about the successful prosecutions, sometimes based on atrocious or completely unexpected playing patterns, but there will have been plenty of bet rigging involving sport participants that has gone undetected in the past. It can make all parties quite rich if done very subtly and often only betting companies see the major red flags but might still not have enough proof to escalate.
1205  Economy / Economics / Re: How to increase profit in business on: May 10, 2023, 06:53:24 PM
From my experience as a business person, in buying and selling, I have discovered some helpful tips on how to increase profit. I an happy to share some in this forum.
Customer relation, a business person must understand that customer is king and should be treated like a royalty. Even it they are buying the least thing in your shop. When they leave your shop delighted, be assured that they will always come back to patronise you. And they will even market your products to their friends. Meaning more patronage for your business which will be increasing your profit.
Your business should have at least one season when you give out rewards and discounts to customers when they buy your products. This will increase your sales geometrically and when you remove the cost of the reward and discounts, you will still have increased profit.
Stock different brands of the products that you sell. Customers will prefer to enter a shop where they will see different varieties of what they need. More customers will enter and will even be tempted to buy more than they planned for. More customers equals more profit.

Please feel free to drop your own ideas on how to increase profit in businesses.


Re-evaluating your product and services line on a regular basis should definitely be part of any successful business strategy. For example if you've got ten product lines but 90% of your profit is coming from a single product, then it might be worth ditching the other 9 products and focusing all your efforts on the most successful one as boosting that will bring much higher profits and you'll not be wasting time elsewhere.
1206  Economy / Gambling discussion / Re: The madness of gambling addicts. on: May 09, 2023, 08:53:37 AM
Quote
A Shanghai man was sentenced to prison for kidnapping his own granddaughter so he could maintain his gambling addiction with the ransom money.

The kidnapping — orchestrated by a 65-year-old man identified only by his surname, Yuan — was first reported by the Shanghai Law and Rule Journal. The legal news outlet didn't specify when the incident occurred but wrote on April 18 that Yuan had just started serving his prison sentence.

Yuan kicked off his plan by picking up his four-year-old granddaughter from her kindergarten and taking her out to eat and shop without her mother's knowledge, the Journal reported.

many gambling addicts have lost their minds because their desire to continue gambling overpowers their common sense, hence the importance of "gambling responsibly"

Quote
There are three licensing objectives which support the whole basis of gambling regulation:

- that crime should be kept out of gambling
- it should be conducted in a fair and open way
- children and other vulnerable persons should be protected from harm or exploitation from gambling.

We see this sort of criminal activity in any strong addiction and it is very damaging for the communities who have to put up with it. It would be better and probably cheaper to treat all these people as a health problem instead but also far before they get to the point of stealing to fund their habit. If people want help there should be plenty of resources to fund it, but ultimately there will always be people who take their habit to the extremes and not much can be done to help society except keeping them incarcerated in prison.
1207  Other / Politics & Society / Re: Is a new pandemic imminent? on: May 09, 2023, 08:36:17 AM
Who has officially canceled covid, I think this is a big turnover of money in healthcare, but there are many indicators that a new pandemic is possible. To what extent does this correspond to reality, measles is also multiplying, will the world be covered by new diseases on a large scale? Or is it an economic process?

Imminent? Not necessarily but it's still a major threat that has not gone away. It might be in a year, it might be in 50, but it will likely happen again because viruses and bacteria are always evolving as they pass through different bodies. They learn, adapt and overcome as they try to simply survive or even increase their infectability. The climate is also changing which could mean that some viruses that previously did not transfer well could start to exist in new environments. The interconnectedness of the world today means that it can spread on a scale never seen before.
1208  Economy / Gambling discussion / Re: Never Expect Consistent Winnings From Gambling - A Lesson I Learnt. on: May 09, 2023, 08:32:25 AM

Long story short, 2 months after the whole winning spree, this guy lost everything back to casinos where he gambled on, he made gambling his day job, probably increased his bets so as to win more,  but as of today, this guy is joblessly roaming the streets, depend solely on friends to feed, as of yesterday when I overheard him discussing with some one I am also close to, he was asking to help him look for a Job, that what he planned didn't work out - what ever he planned that didn't work out, I don't know, but this is a lesson for us all to learn from.

Gambling is not a business, and neither should you ever take it as a day job, in reference to this thread - it is likely impossible to make a consistent winning from gambling, there are day you win, even much more than $100, and there are days you will lose it all, to make a consistent $100 or more every day in gambling is a mirage, wishful thinking that might never happen.

Feel free to chip in your contribution.

I think you really need to separate gambling into two categories - bets over which you have some control and bets where you have no control. The vast majority of casino games fall into the second bracket, the casinos have engineered it so they will always win in the long run due to a weighted advantage in their favor - although you might get lucky short term. Then there are skill based games like poker and even sports betting to a degree, where you may be able to eek out a small advantage if you follow some sort of strategy.
1209  Economy / Economics / Re: Would you consider moving abroad? on: May 08, 2023, 11:32:07 AM
The job market has become extremely competitive in the past few years, while the increasing cost of living and low wages are forcing people to move abroad for a chance at a better future. Personally, I believe the economic conditions in Greece have been deteriorating; groceries, rent, and fuel have skyrocketed while the available income keeps shrinking. People with degrees are struggling to find jobs in their field that pay above the minimum wage and offer benefits such as paid vacation and humane working conditions.

Moving abroad isn't an easy decision; there are several factors to take into account, with the most important one being the language barrier. I only speak English; moving anywhere apart from the USA and UK would be a huge challenge because I'd have to learn a new language from scratch. Moreover, you'd have to take into account the increasing living costs of Germany compared to Greece, which means that you must have saved enough money until you manage to get settled in one place.

I'm really in a dilemma about what would be best for me. I'll be out in the job market in a few months after I finish with my mandatory military enlistment, and I'm unsure of what challenges and opportunities I'm going to face. I don't want to spend my life living from paycheck to paycheck. It's a good thing that I also have Bitcoin; otherwise, I'd be doomed. There's still something to believe in.

So far, in my opinion, the best option for work seems to be online, especially if it has flexible hours and a working schedule. You can work from wherever and whenever you want, provided you get the job done. Digital nomads have been increasing over the past few years, and it seems like a perfect opportunity that provides work-life balance. I believe that it's something that would suit my personal needs. I want to travel and explore as many destinations as possible, so working a regular 9-5 job with 20 vacation days per year isn't going to cut it.

So yes, would you consider moving abroad for a better future? Would you try to find a way to stay in your country, either through online work or by accessing all possible opportunities?

It's really strange how you've written all this. Are you American military personnel based in Greece and expecting to move back to America? If so, you might be unlikely to get a working Visa to visit Europe again unless you have a very useful skill or qualification. Anyone who has lived in Europe for a while would know that it's possible to travel to most countries in the bloc even if you only know English, besides that you should make a bit of effort to assimilate and learn at least the basics of the language in any country you visit. What sort of "digital nomad" job are you expecting to be able to jump into? It's a highly competitive area and unless you can carve out a little niche in advance, then it'll take you a while to build up a sustainable income.
1210  Economy / Gambling discussion / Re: Need your opinion on the casino project ( gambling ) on: May 08, 2023, 11:14:30 AM
Greetings! My name is Max Hoffman

I am interested in the https://bithound.io/de/casino/national-casino/ and would like more information about it. I wonder how reliable and safe this online casino site is. Are there any independent reviews or verifications that confirm its legitimacy? I would also like to know what types of cryptocurrencies are accepted and what fees or commissions are charged for deposits and withdrawals.

In addition, I would like to know if there are any specific restrictions or limitations for players from certain countries and what types of games are available on the platform. Are the games fair and transparent? Is there an RNG test that guarantees the randomness of the game results?

And finally, is it safe to play at this online casino site? Is my personal information and cryptocurrencies safe and secure? Would you recommend playing on this platform or are there other crypto casino websites that are safer or more reliable?

Thank you in advance for your help and information.

Kind regards.

This looks like a fake and dirty way to advertise this site. My question to you would be - why are you so particularly interested in this site, what makes it attractive or is in any way unique about it which would draw your interest? There are dozens of very high profile crypto sites here with long histories to back them up, so why are you bothering with one that you're unsure about? Nobody can give definitive answers to your questions, because it might survive long term or it might get wiped out by the owners or external forces. Stick with one of the long term sites here, which have many years worth of history behind them or risk losing all of your money to a newcomer - the answer seems quite obvious.
1211  Other / Off-topic / Re: Prepare for the life when you get old on: May 08, 2023, 07:37:10 AM

Last week, I met one of my uncles-in-law who has been a sailor for many years. In the past decade, he has been out of town and travelling all over the world to make a living. He has two children to raise and being a father who is always absent from their growing-up, he somehow does not know how to get along with his kids once he is back home once a year. In this transition period, usually like one month or two, he will find him some odd jobs  to make money to support his family. Unfortunately in this economic downturn, it is very difficult to find a job so he is quite upset now. Staying at home means no income and this makes my aunt very anxious. This uncle is in mid fifties and he is one of the most diligient people I've ever known. Ever since he was young, he would always keep busy doing all kinds of jobs to make money. I have to say that he made some savings for some years but it was most used up by sending his daughter to study overseas. Under today's economic condition, he has to wait more time to be assigned onboard and it is said his salary will be slashed big next time he has an offer. Well, to make a living, he has to accept that. He used to be a happy-go-lucky guy and always have a smile every day, last week I saw him, he was more like silent and upset.

As he ages, the window for him is closing. I never saw him encounter any financial problem because he has been diligient and frugal. This meet-up has completely changed my mind. Even people like him are struggling financially and we'd better prepare a comfortable life for the old version of ourselves. This uncle is still doing okay although with some struggles but I am sure there are millions who are broke and wish they could have made and saved more money when they were young. Always plan for the future. What do you think ?

I always find stories like these strange but very real to many people around the world. This person sounds like they had or have a big income, so should definitely have been able to build up a pension over their long career. What on earth were they spending all their money on in that time or have they got ownership of a large expensive house in lieu of any other assets? Some people have a large property which they can then downsize on when retiring, to unlock a lot of wealth. Most jobs these days have some sort of pension scheme, so maybe he has that in the background and it will cover at least a base amount each month so they can live frugally if not the same opulent lifestyle as before.
1212  Economy / Gambling discussion / Re: How's your gambling experience right now? on: May 08, 2023, 07:20:20 AM
The transaction fee on Bitcoin is increasing day by day. It cost now 14$ for a low-priority transaction to 17$ for high priority transaction. I was planning to make a deposit today on my casino account until I notice the high fee on my electrum sent tab. The fee is almost 5% of my total bankroll that I was supposed to deposit. I decided to rest for now since I will be down immediately by 5% for a transaction that I don't know when will gonna be confirmed.

Is anyone still playing today with this high fee? I think those gamblers that leave funds in the casino are very happy that they didn't need to experience this fee drama.

I could imagine this will be highly damaging for Bitcoin and has identified a substantial weakness in cryptocurrency designed this way in general. The only way that crypto can compete with fiat currency is if transaction fees stay somewhat low and competitive with fiat payment processors, people might be willing to spend 5% to have this decentralized option but not 15-20% over. It's a shame that the pointless NFT's are yet again ruining the day and wasting peoples money, even those cannot be sustainable at these prices. I wonder if the network will be able to improve or they will stop filling up the blockchain with this garbage, maybe the developers need to step in with a solution to discourage it.
1213  Economy / Economics / Re: New currency from BRICS countries on: May 07, 2023, 07:14:34 PM
Couple of hours ago there is in news on Twitter saying BRICS countries (Brazil, Russia, India, China, South Africa) are developing a new currency. It was mentioned by State Duma Deputy Chairmen btw.

As I can see all these things to manipulate BTC right? What are your thoughts about this?

The only country with a powerful enough economic background to create a reserve country in the "BRICS" (a meaningless grouping of countries by the way, as they are widely disparate and have tenuous economic links) is China. India is never going to enter into any sort of monetary union with China because they are both rivals in Asia trying to wrestle the most power in the region. South Africa is a legitimate, but fairly small economic power in the scheme of things. It would make more sense if some Middle Eastern countries were within the grouping but they are clearly missing too. It's a very flawed methodology to imply these countries would ever willingly share a currency.
1214  Economy / Gambling / Re: Why Opening an Account in a Bitcoin Sportsbook is the Future of Sports Betting on: May 07, 2023, 01:17:48 PM

Are you tired of dealing with the headaches of traditional sports betting platforms? From long processing times to high transaction fees, it can be frustrating trying to place a simple bet on your favorite team. But what if we told you there's a better way?

Enter Bitcoin sportsbooks. By opening an account with a Bitcoin sportsbook, you can enjoy a more convenient and secure betting experience. Here are just a few reasons why:

Quick and easy transactions: With Bitcoin, deposits and withdrawals are lightning fast. No more waiting days or even weeks for your funds to clear. You can make a deposit and start betting in minutes.

Lower fees: Traditional sportsbooks can charge high fees for processing transactions, cutting into your winnings. Bitcoin sportsbooks typically have lower fees, meaning you keep more of your profits.

Increased security: Bitcoin transactions are recorded on a decentralized blockchain, which means they're virtually impossible to tamper with. This added layer of security helps protect your funds and personal information.

Don't miss out on the future of sports betting. Open an account with a Bitcoin sportsbook today and start enjoying the convenience and security you deserve.

It's interesting you mention lower fees, because we are currently seeing a massive spike in the cost of transacting in bitcoin. It cost me $10 to settle a $65 trade this morning and that certainly is not sustainable. Unless these prices come down soon it could prove ruinous for the future success of cryptocurrency, all because some people want to abuse the Blockchain in new ways and trade junk NFTs. Hopefully the developers find a fix to this because it's at damaging cost levels right now.
1215  Economy / Economics / Re: less risk or big profit? on: May 07, 2023, 01:14:31 PM
In some conversations that I have had with some rich people who are old, they most times always say that they invested in real estate and that was how they made some fortune. Young people understand that investing is key and paramount to securing a better future like these Old rich men did then, But the question now is what exactly to invest in for young people. Is it wise to follow in the steps of the old rich men who had investments in Real Estate, or do they completely now invest in cryptocurrency? The answer is sometimes traced to the one that offers the lowest risk and loss of capital.

The less riskier from Real Estate and cryptocurrency is Real Estate, but less risk,, less reward. The risk that come with the higher volatility of cryptocurrency makes the profit that can be gotten bigger. Will you go for less risk, or big profit?

Slow and steady wins the race, as they say. It might be better to acquire wealth and knowledge of how to keep it over time than to try high risk gambles with your money, possibly get very lucky but then lose it all again later because you think you have a special skill instead of it being blind luck. Building wealth brick by brick can, like buying small amounts of shares over a long time, can be important for building a strong foundation to your finances. That being said, it's a lot easier to try and fail when you're younger, because you have more time to rebuild.
1216  Economy / Gambling discussion / Re: Is Online casino always take risks? on: May 07, 2023, 08:47:48 AM
I am just curious about how does online casino pay for their promotion on their influencers? Where does their earning comes from? How will you get scammed when you try online casino? How can you tell that online casino is safe?

Casinos make a lot of money once they reach a certain size, easily supporting a staff of dozens - if not hundreds of people in different roles. We see crypto casinos advertising with the biggest Premier League clubs in the world at the moment with contracts that cost many millions to set up. The whole premise of a casino is to draw in money while giving the customer some form of entertainment, along with a tiny chance of winning more money than they put in. The money comes from customers, who you might say are blinded by greed and in some cases addicted to chasing "easy money" - there seems to be a lot of such people out there. If you stick with the biggest brand names you are generally safe.
1217  Economy / Economics / Re: Excessive Rain Can Hamper the Economic Cycle on: May 07, 2023, 08:44:23 AM
I hope that on this day all of you are always healthy and can still carry out activities as usual with great comfort, because here at the end of Indonesia where I am experiencing flooding due to continuous rain for the last 12 hours and causing puddles in several villages that are very close with the outskirts of the city as well as being very close to the river. Usually we say that rain is a blessing for farmers, but excess water is a disaster for everyone so that it hampers the activities of all local residents and will obviously greatly affect their economic cycle.

Some of the residents' land belonging to farmers around here have been flooded and hopefully the rain will stop soon and the puddles can recede soon and I hope the local government will be able to handle this properly soon. Because at the beginning of the year we always feel excessive rain and that really suits the weather here where the rainy season here always occurs at the end to the beginning of the year.

As an ordinary person, I also feel the impact of this because when the floods hit, people who usually sell snacks on the side of the road also cannot carry out their usual activities because they are all busy looking after their own homes and those around them. Hopefully this does not happen at your place and especially elsewhere in Indonesia.

I think we'll start to see much more dramatic weather cycles in future and it is, as always, going to affect the poorest the worst. Too little rain or too much rain can be equally damaging, but some countries are very poor at resource management because of government corruption or incompetence, are likely to be worse off. We are going to see more extreme weather events due to warming, the ice caps melting and certain areas which are close to sea level might actually be lost for this reason. These things can be mitigated somewhat by improving infrastructure to deal with flooding, but it's an expensive business and sometimes people don't reinvest money wisely into their future like they should.
1218  Economy / Gambling discussion / Re: Back and Lay in sportbook on: May 07, 2023, 08:40:24 AM
I'm not an expert when it comes to different terms in sportsbook and gambling. I usually place bets on X to win, X to score etc in cricket and soccer both. I have never seen the terms "back" and "lay" in any Casino. Maybe I didn't notice them. I joined a casino today and found both terms and I'm confused what should I do. It says back (1.03) and Lay (1.04). What does these terms mean? Any easy explanation?

I think this terminology is mainly referred to in "matched betting" where you are trying to maximize welcome bonuses and walk away with guaranteed winnings. If two sites are offering $100 in free bets, you take advantage by placing bets with only two outcomes at two different gambling sites, lose a little bit of money in the process but then unlock a large amount of money in free bets. Repeat that with the free bets you unlocked and you cover your small loss plus a nice amount on top. That's probably the easiest way to describe how you do it. Outside of matched betting, if you've placed a bet and think the odds of it winning have shifted, you might want to cut your losses by laying a bet elsewhere in a similar manner.
1219  Economy / Economics / Re: Shrinkflation on: May 05, 2023, 07:35:15 PM
Quote
Shrinkflation is practice of reducing the size of a product while maintaining its sticker price.

I hate it when companies reduce quantity (and often quality too) of product to sell it at same price as before to combat inflation. Oh and don't forget those, "30% Extra" labels.

Inflation makes everything rise, so might as well keep the original quantity and just increase the price.

Do you agree? How would you combat inflation if you were running a company?

Not only that, these companies then have the audacity to still increase the underlying prices on these reduced quality and quality products a few months later. I can understand if there is an actual issue with ingredients going up in price and that will be an element of it, but you so often hear about increased profits in these companies too. There are definitely limits though and consumers are getting much more savvy to these type of hikes, when the quality drops especially it makes it easier to jump over to rival products which may even start to become superior. These big companies often walk a very fine line between covering increased costs and pushing away long term buyers of their products, thankfully it is much more visible now and backlashes can often cost them more money if they're caught.
1220  Economy / Gambling discussion / Re: There are many advantages to the relationship between gambling and Bitcoin. on: May 05, 2023, 06:58:05 PM
There are many advantages to the relationship between gambling and Bitcoin. Firstly, Bitcoin provides a secure and decentralized way to gamble online, which is attractive to many gamblers who value their privacy and security. Transactions are processed quickly and can be completed without third-party intermediaries, making it a popular choice for online gambling sites.

Another advantage of using Bitcoin for gambling is that it allows for more anonymity than traditional payment methods. This can be especially important for gamblers who wish to keep their gambling activities private.

Furthermore, Bitcoin transactions are often cheaper and faster than traditional banking methods, which can save gamblers money and time.

Many online casinos and sports betting sites now offer exclusive bonuses and promotions for Bitcoin users, which can provide gamblers with extra incentives to use Bitcoin for their online gambling activities.

Can you tell us another advantage of opening an account in a Bitcoin Sportsbook?


A lot of these so-called advantages are disappearing over time for different reasons. Referring to anonymity in relation to cryptocurrency is getting harder by the day, because so many transactions are tracked in the background from exchanges and peer to peer trading has been targeted by financial regulators recently because they don't keep the same level of records that banks do. Promotions are also widespread and in many cases a lot greater with fiat currency casinos in my experience, that being said there are some great bitcoin gambling sites offering bonuses out there. Potentially greater odds would be the biggest benefit to using a crypto sportbook over any other type.
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