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1201  Economy / Economics / Re: China Digital yuan vs US dollars on: January 29, 2023, 11:40:59 AM
The digital yuan is something that will have more internal impact over China, rather than external impact over the global economy.
I don't think that China is being really "dependent" on the US dollar. USA is dependent of the countries, that are buying US dollars and US government bonds. I know that the Chinese want to receive payments in yuan instead of USD for the goods they are exporting. Also China wants to buy oil and gas from Saudi Arabia by paying with yuan rather than USD. The Chinese don't necessarily need a digital yuan, in order to achieve such "independence" from the US dollar. The competition for global dominance will continue, but I don't think that China is in a good shape, both financially and demographically.
1202  Economy / Gambling discussion / Re: Hit And Run Gambling - Can The House Be Beaten This way? on: January 29, 2023, 07:30:56 AM
Quote
Imagine yourself as a new gambler who just joined a casino, played a few dollars and with luck on your side, you win money running into thousands of dollars, will withdrawing your money plus winnings from that casino, never to return there to play again, mean you have beaten that casino?

Secondly, imagine that on your first day of gambling, you gambled $200 and in the process, won money running into hundreds of thousands of dollars, you withdraw the money and start up your own business, and never returned to gambling again, isn't this one way to beat the house?

Theoretically this sounds like a way to "beat the house", but there are several things to keep in mind:
1.The player needs to be extremely lucky.
2.The player needs very good skills(when it comes to games like poker).
3.The casino must be legit and paying all winnings without any problems.
4.The player must have really good self-control, so that he will quit after withdrawing his winnings and never return back. Most people are greedy, they always want more and more. Winning big amount of money from a casino would incentivize the gambler to keep gambling on that casino(at some point he will lose everything).
5.What if the casino "bribes" the gambler with a generous bonus, so that the gambler starts betting again and loses his money?
1203  Economy / Economics / Re: Don’t Fall Prey to these Market Sentiments and Save your Bitcoin on: January 29, 2023, 06:56:12 AM
OP, you forgot to mention the biggest and worst market sentiment, when it comes to Bitcoin-panic selling. I think that panic selling doesn't belong to the FUD category and it should be on it's own category.
I don't agree that HODLing is a wrong market sentiment for Bitcoin. Maybe HODLing is wrong when you want to HODL some altcoin or token for the long run. I'm sure that HODLing middle-sized altcoins and tokens, that belong to shady crypto projects is a recipe for losing your money.
The pump and dump market sentiment doesn't apply to Bitcoin at all. I don't know why did you put it in this list. The pump and dump schemes are focused solely around shitcoins/tokens.
1204  Other / Off-topic / Re: White Card entered in Football !!! on: January 27, 2023, 07:37:11 AM
Great news. Now we are waiting for the introduction of the green, purple and black cards as well. Grin Or maybe the pink or brown card?
All the changes in football are getting out of control. This is totally unnecessary if you ask me. It makes the game more complicated and it takes away a part of the excitement. This "white card" thing is nonsense. Is there any real benefit of receiving a "white card" in the game?
The referee can say "good job" to a player without having to show him/her a white card. Grin
1205  Economy / Gambling discussion / Re: Common Online Gambling Fraud on: January 26, 2023, 11:53:19 AM
Quote
7. social engineering (Soft begging)

I have seen a lot of times people in the casinos chat telling some really sad stories with the intention of touching other users' hearts and that way receiving some coins. We can call it the shame speech.

Who would believe a sad story that is being told by a random person in an online chat nowadays? I thought that the "Nigerian prince" email scam would never survive in the long run. Maybe I was wrong. Grin
Anyway, OP has mentioned all the ways the gamblers are trying to scam the casinos. We should make a list about all the methods the online casinos are using in order to scam their customers.
I think that the credit card fraud shouldn't be mentioned here, because:
1.This is a crypto gambling forum and most crypto casinos don't accept credit/debit cards.
2.Most online casinos(both fiat and online) are trying to stay away from credit/debit card payments, because they might get accused into supporting money laundering/CC fraud, so their business might be facing big trouble.
1206  Economy / Economics / Re: Success in finance and investment is a journey of finding your true self on: January 26, 2023, 07:28:35 AM
Gaming addiction isn't a joke. Gaming addiction is a serious problem in countries like Japan.
Anyway, I guess that your question is why so many people like spending hours doing unproductive stuff, instead of working hard and building their wealth. The answer isn't that simple and I think that the problem lies in their childhood and their families. Your parents have a role in teaching you a thing or two about the importance of discipline and hard work. The people, who are playing videogames 12 hours a day probably had irresponsible parents, who never told them anything about life.
1207  Bitcoin / Bitcoin Discussion / Re: Big money bad for bitcoin in the long run on: January 26, 2023, 06:48:23 AM
As bitcoin continues on its current bullish path, all kinds of people are trying to ride this wave by buying any cheap coins they can get their hands on as they anticipate the next High to come. But the scary part about this is that Big money is also flowing into the crypto economy that will push price to easily register new highs, but this comes at a price, when these whales decide to take out their money.. markets bleed red which is why Big money is not good if volatility is to be controlled. In the long run Bitcoin is better off without the Big money, otherwise this becomes like a pyramid scheme always leaving the last man standing with empty pockets as the first guy to make a move gets all the accumulated $$$$.

What's the community's take on this?

That's how the financial markets work. If you are against the way financial markets work, just don't bother and pick another job or hobby.
Can you figure out a way to stop "big money" from buying BTC and entering the Bitcoin market? I don't think so.
Bitcoin would've been way more boring and uninteresting for the vast majority of the traders/investors, if the price was less volatile and there weren't any "big money" in the game of crypto trading.
The stock markets also have a bunch of whales, who are buying low and selling high(and they are probably manipulating the prices). I don't see anyone complaining about the stock market whales.
If you are a crypto trader and you are failing at timing the crypto market, you should blame yourself, not the crypto whales.
1208  Economy / Gambling discussion / Re: Italian League Prediction Thread (Serie A) on: January 25, 2023, 11:43:43 AM
I'm surprised by AC Milan and their poor performance. It seems that they are returning to the mediocrity and lack of consistency before the 2021-2022 season. AC Milan spent 46 million euro on the transfer market, but the new players can't seem to adapt. The French players like Giroud and Fernandes are in a really bad shape and the team can't find a way out of the crisis. There are rumors about Rafael Leao refusing to sign a new contract.
Anyway, Napoli seems close to winning Serie A, but let's see if the Italian Olympic Committee would decide in favor of Juventus and return the 15 points that were removed from the club's ranking. Several Italian football teams had committed the same type of transfer fraud as Juventus, but only Juventus was punished by the court. That doesn't seem fair.
1209  Economy / Economics / Re: Is renting an inevitable waste of money? on: January 25, 2023, 08:02:03 AM
Just try to increase your income and get a mortgage. Renting is a waste or money. I've always thought that renting a place to live is a short term solution and nobody should live in a rented house/apartment for years.
I know that the interest rates are going up and mortgages might become more expensive, but you will have your own house/apartment after 20-30 years. Real estate prices will most likely keep going up forever, which means that your own house/apartment will have good value after 20-30 years.
Try to avoid living in a big city. The houses/apartments are overpriced AF. Find a suburban town or small city with good infrastructure near a big city.
1210  Bitcoin / Bitcoin Discussion / Re: Why is Bitcoin gaining this much fame despite it's restrictions? on: January 25, 2023, 07:23:05 AM
Though I'm new in the cryptocurrency space,I have been hearing so much about crypto ( Bitcoin precisely) lately even before I got registered on the forum and I had to ask this very question because in three days I've heard and seen people talk and discuss about Bitcoin and cryptocurrency in general and it prompted my question wanting to know why it has been talked about this much and gaining more acceptance in my local community despite it's restrictions in my country and is it also gaining this much fame in your environment?

Bitcoin isn't gaining that much popularity in my environment. I live in a small town, where most of the people are boomers, who don't know that much about technology and computers. Grin
Anyway, Bitcoin is getting so much fame because it appears more often on the news, even on bad news about crypto scams or ransomware being used to hack various systems. You know the saying "there's no such thing as bad advertising".
I wouldn't say that Bitcoin is being restricted, it's just the regulatory frame surrounding Bitcoin is pretty unclear in many countries around the world, so many people don't know if Bitcoin is allowed or banned in their jurisdictions.
1211  Economy / Economics / Re: Is Bitcoin threatened by digital dollars? on: January 24, 2023, 11:33:03 AM
The digital dollar isn't a threat to Bitcoin. The US government and the Federal Reserve are the real threat for Bitcoin.
They portray the digital dollar as the best thing since bread, but in reality all they want is just more control and less privacy for the people.
The statement that the digital dollar will help in "fighting cyberbullying" is ridiculous. What do they mean by "cyberbullying"?
Supporting the effectiveness of embargoes? What does that even mean? Perhaps the countries, that are currently being blocked by embargoes would just dump the US dollar entirely and pick another currency for their transactions. This looks like a great boost in the effectiveness of the embargoes. Grin
This seems like a bunch of nonsense created by a bunch of incompetent government minions.
1212  Economy / Gambling discussion / Re: Doxxed team can help a new gambling platform? on: January 24, 2023, 08:03:48 AM
Hi friends, I am still on the matter of helping a friend who wants to build his own gambling project, the question of the day is about KYC verification, why are popular crypto gambling platforms are not KYC verified themselves? I mean the team behind the online casino why are they not KYC verified and they ask for KYC instead?

Wouldn't it be more fair if they want to stay behind the veil and not as users KYC verification? If they are scared of the law/regulations it makes sense the are verified too, doxxed or something .

Anyway fast forward to my second question, will a gambling platform be more attractive for users if the team are 100% doxxed?

That's an interesting question.
Imagine if all crypto casino owners and dev teams were required to identify themselves publicly. I'm sure that 99% of them would leave the gambling business or try to bypass the ID verification by submitting false IDs.
Will a crypto casino look more trusted if the dev team/owner are doxxed? Maybe yes, but that won't stop them from finding legal ways to scam the users and to not pay their profits. There are multiple excuses for refusing withdrawals "because of suspicious activity" or "breaking the Terms of Service" and all that stuff. In summary, I don't think that doxxing the casino dev teams/owners would solve all problems inside the crypto gambling industry.
1213  Bitcoin / Bitcoin Discussion / Re: How to know total money been invested in bitcoin on: January 24, 2023, 07:23:23 AM
1. How we can determine total invested money in bitcoin
maybe many rich's are accumulating know ,
and maybe they or a one person already accumulated worth more than combining some biggest whales how we can know if the bitcoin are stored in many many wallets by one person or institution

2. Is it possible to invest very very big money like 10's of billions without been tracked by authorities
or is it not possible to earn or invest this amount by illegal business


just for education
 

1.You would need to gather all the info from all cryptocurrency exchange platforms in the world about all Bitcoin purchases. I highly doubt that the crypto exchange platforms would reveal such information. Years ago, multiple crypto exchanges were faking their trading volume, in order to look bigger and more reputable. Maybe these unethical practices remain in some of them.
2.No, it's no possible. Even if a bunch of billionaires are hiding billions of dollars in offshore bank accounts, which are located in "tax heaven" islands, the authorities can find a way to track those money.
1214  Economy / Economics / Re: After Budgeting, How Do I Deal With Unexcepted Expenses? on: January 23, 2023, 11:04:10 AM
Would you mind sharing with us what kind of unexpected expenses you have? Are your unexpected expenses a secret?
If you ask me, having an old car and a new woman is a recipe for unexpected expenses. Grin
Just try to increase your income and start saving more money. All your unexpected costs should be covered by your savings, not by your monthly budget. This is what I do. Try to cut all the spending related to bad habits, like smoking, alcohol, gambling, etc...
Don't use consumer debt, if your income isn't high enough. Failing to pay consumer debt in time would mean that you will fall into a debt spiral.
1215  Economy / Gambling discussion / Re: This Smells Like Hypocrisy on: January 23, 2023, 07:19:00 AM
Quote
To me, this seems hypocritical. You claim that gambling is illegal, but you may bet on horse racing, Pachinko, bicycle racing, boat racing, and Mahjong, which baffles me. I do not seem to understand. Why is that so? You claim it is unlawful, yet wagering on games that are overseen by the government is not unlawful. Is this not hypocritical? What does the government fear?

1.Lotteries are allowed in most countries in the world, even in the countries where gambling is banned. Nothing unusual here.
2.Wait what? There's horse racing in Japan? I never knew that the Japanese can gamble on horse racing. Grin I learned something new today.

I guess that having a total ban over gambling would simply throw the entire gambling industry in the hands of the Japanese mob(Yakuza).
I've repeated multiple times that having strict regulation over gambling is way better than a total ban. Banning alcohol in the USA during the 20s and 30s didn't work.
Having one form of gambling allowed while others are banned might seem like a hypocrisy, but I guess that the Japanese lawmakers consider some forms of gambling to be less harmful(when it comes to falling into gambling addiction).
1216  Bitcoin / Bitcoin Discussion / Re: is it possible to invest in bitcoin to build a country whose economy is down? on: January 23, 2023, 06:57:39 AM
The short answer to your question is NO!
Countries like El Salvador and the Central African republic had accepted Bitcoin as a legal tender. Are they facing massive economic growth?
Nope! Not even close. Small and underdeveloped countries need massive investments in their infrastructure and education systems. They don't necessarily need a cryptocurrency. Many people don't even have computers and electricity. How are they going to use Bitcoin or altcoins?
Bitcoin isn't even a stable currency. It's highly volatile, which is bad for a country, that doesn't have a strong economy.
1217  Economy / Economics / Re: Comparing U.S. Federal Spending with Revenue - This is why fiat will fall on: January 22, 2023, 11:26:53 AM
If the US dollar wasn't a global reserve currency, then USA would've gone bankrupt years ago.
There's a global demand for dollars, because USD is the global currency for transactions and currency reserves, so basically the Federal Reserve is "selling" newly printed dollars to the rest of the world. If the world stops "buying" new dollars, the US dominated fiat system will collapse.
Anyway, while Bitcoin is seen as an alternative to the fiat financial system, I can't figure out how Bitcoin adoption would help for changing anything. Bitcoin isn't performing well and it definitely isn't a safe heaven asset. BTC would never be accepted as mass payment method.
I'm not anti-Bitcoin, but let's be honest here. Bitcoin isn't the "magic pill", that will solve all financial problems in the world.
1218  Economy / Gambling discussion / Re: Premier League Prediction Thread 2022/2023 on: January 22, 2023, 07:40:43 AM
It's historically proven that all teams led by Jurgen Klopp are facing a drop in their performance after several successful seasons. Just look at Borussia Dortmund 6 years ago. I'm 99% sure that Liverpool won't rise again with Klopp being the manager. Maybe Liverpool's owners will decide to keep Klopp, because he was "the most successful manager of Liverpool in the last 30 years", but I think that Klopp will turn into another Rafa Benitez or Gerard Houllier.
Anyway, I will put my money on Manchester United winning against Arsenal. It's time for the "gunners" to lose some points and make the Premier League interesting again. Grin
1219  Bitcoin / Bitcoin Discussion / Re: What is the core dev team plan to fight Quantum computers? on: January 22, 2023, 07:14:46 AM
I'm not the biggest expert in the subject, but I think that the best plan for "fighting" Quantum technology would be "if you can't beat them, join them". Making the Bitcoin Core blockchain quantum resistant would mean that the BTC blockchain must adapt to the new world of quantum computers.
By the way, why is everybody asking about the impact of quantum computers over crypto and nobody is asking about quantum computers impacting the fiat financial system? There's an assumption that Bitcoin/crypto will be severely damaged by quantum computers, while the fiat banking system will be just fine. This seems ignorant to me.


Quote
I am starting to feel like a "Quantum resistant gems (aka new shitcoins)" will be the new narrative in the upcoming years. Although, we should get a fork for bitcoin to solve any issues.

"Quantum resistant shitcoins" will be gone into oblivion the moment everyone realizes that they aren't quantum resistant. Grin
1220  Economy / Speculation / Re: BTC bulls back? on: January 20, 2023, 12:52:08 PM
I was thinking BTC was going to be on a down hill mostly until near end of 2023. Do you believe this is a bull trap or true recovery for next bull is now here?

I would be interested to see what you people think and why.

:3

1.Your forum nickname is weird. Who is bullying you?
2.The recent price spike is temporary. We will be witnessing many price pumps and drops during the crypto winter. I wouldn't call it a "bull trap" because the serious bulls haven't started buying yet. This definitely isn't true price recovery, because there isn't such thing as "price recovery". The current price is what the market wants, because it balances the current market levels of supply and demand.
The ATHs in the past were a result of FOMO price bubbles. I'm sure that there will be more FOMO price bubbles in the future.
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