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1421  Economy / Economics / Re: Would You want to See a Corralón Type Economic Measure in Your Country? on: November 05, 2023, 03:28:30 PM
Quote
Corralón was the informal name for the economic measures taken in Argentina at the beginning of 2002 by President Eduardo Duhalde during a bank run in which deposits and debt in dollars were exchanged to local currency at 1.4 per dollar for deposits and 1.0 for debt (this was also called pesificación asimétrica). Previously, the withdrawal of dollars was limited to $250 per week. After the forced exchanged, people no longer had any dollars on the system and those who had savings in US dollars lost 65% of their deposited value.
https://en.m.wikipedia.org/wiki/Corral%C3%B3n
What are your thoughts on the quote above if your government implemented such economic measures? One thing is certain: those in debt would likely benefit, especially in times of economic hardship.


This is surely a corrective measure for countries that have been long dependent on US dollar to run their country. Countries who have stood with their local fiat currency have not had it tough like those who depend on dollar so it is evident that such exchange is a wake up call to all those countries making use of the dollar for exchange and transaction.

If an economic is jettisoning their local currency then they are only causing their fiat to be depreciating in value while the dependent currency keep appreciating because before you transact or exchange in import or export you then need to convert first and moreover, investors and politicians would prefer to hodl and hord the foreign currency and causing it to be scarce and that will push it exchange for local currency higher.
1422  Economy / Gambling discussion / Re: Sports betting online courses? on: November 05, 2023, 02:51:10 PM
I just came across another topic about how to start betting on sports, and as I was reading and researching, I came across something that suggests considering taking online courses on sports betting


I have not heard of something like that and even if it exist, what is the possibility that after such course there is a guarantee winning? Winning is what is important in gambling and not all the magic of going through courses for gambling. I can only consider the appropriateness of casino owners going through such course on how to build their casino and organize it in the way that the odds will favour them and they will have edge against gamblers but to have a course teaching gamblers of secret to win (if there is any), I will wait to see more prove to that .
1423  Economy / Gambling discussion / Re: Difference between crypto gamblers - regular gamblers on: November 05, 2023, 12:59:17 PM

Regular gamblers or the traditional one prefer more to gamble on casinos and they don't care that much about their security as you can still have your privacy on a casinos.

Regular gamblers really bother on the privacy because they jump in and out and that probably would not require KYC maybe because they don't win which will get them to verify their KYC for withdrawal. So this is the reason they may not submit their KYC but for a  crypto gambler who is consistent in profit would provide KYC for withdrawal and so they are careful about the casino they choose to play in. This is the difference therefore, if you are not getting winning from a casino then you may not be required to verify your KYC since you are not withdrawing.
1424  Other / Politics & Society / Re: Trump make world peaceful place on: November 05, 2023, 06:23:17 AM
I think he would have done things differently if he was in power whilst these new wars were brewing. I believe during his tenure he didn't start any new war and probably he would have discouraged these on going wars. Trump looks more humanitarian despite being a republican, he dialogue more than going to war. His policies didn't bring inflation to the world in general and if he is speaking the way he is speaking now, he probably have seen things not going well.
1425  Economy / Gambling discussion / Re: how to start betting on sports? on: November 05, 2023, 05:12:04 AM
You have to start by knowing the particular sports you want, but this does not guarantee a winning for you, sports betting is a little bit difficult but giving it a try is not bad, if I may ask I don't see any skill in betting, the skill you think you have got, so person have it before you come to know about sports but they have been very unsuccessful, so this is why I feel that luck plays a major game in gambling in general, what you do it work for you might not work in the exact way, so no matter what you you think, what you call skill in betting to me is luck, the prediction you make is not sure, no matter what you know about a team, they will lose, if it is their day to lose. Don't be too sure, so that you won't be disappointed at the end of the game.

You are right no game is sure for winning but it just has high probability to win not that it is certain. Also coming to the sports or casino game we choose to bet on, they also depend on luck and no certainty for winning which is why we need to guide ourselves on how much we want to stake on our game. Some gamblers who complain today on losing so much money are those who have thrown caution away thinking they could just bet huge so that they can also win huge but it doesn't get easy that way. Betting as you can afford to lose gives you a relaxed mind of whatever the outcome will be because at all times the house edge is always going to have the bulk of the winning, that is only few gamblers will win their bets but majority will lose, play wisely.
1426  Other / Politics & Society / Re: Financial stability on: November 04, 2023, 08:08:04 PM
Absolutely nothing! So have come to a conclusion that one need to double up your hustle aside the normal government or private work ...add a trade ...learn hand work or something that will make you to be stable in your finances.
You can double up your work and take up more jobs, learn a new skill, add a new trade and it will still not lead to financial stability. There are some things that some financially stable people have done for themselves that helps them to remain financially stable. Some of theses things from what I have noticed are; Financially stable people are very well informed, they surround themselves with people like them who are focused on financial stability, they are very good with planning, and they always have the mind of investing for the future.

Then the point is clear that financially stable people don't rely on just one single income and they make sure that they are involved in lucrative business and not just any business. Most of the highly paying businesses are owned by them because they invest hugely not minding the risk involved. They are risk takers who never procrastinate on investment that they have investigated to be genuine and lucrative. The future is always important to be financially stable not to only focuse on today or the short time.
1427  Economy / Gambling discussion / Re: Premier League Prediction Thread 2023/2024 on: November 04, 2023, 06:42:12 PM
Manchester city is really phenomenal, I enjoyed every bit of the match today and their performance was really brilliant, they were deserving of every goal they scored today and it was a humbling victory, although Bournemouth got a goal but Manchester city got three points.

Gardioula do say that that with or without a certain player he can still do well and get desired results. Erling Harland was removed from the second half and I taught Manchester city wouldn't futher get goals because he has always score most goals for them but then doku was a brilliant cover up, he had two goals and assist in today's game he was really brilliant in his performance today.

I did also enjoy the match today that happens to be a rain of goals. Pep Guardiola sure knows how to get his team to deliver. Silva and doku filled the gap very well after Haaland left. This is good performance for Manchester city grabbing the whole three point with lots of goals have really shoot them higher above Tottenham with 27 points.
1428  Economy / Gambling discussion / Re: Nigerians spend $975m daily on online betting on: November 04, 2023, 03:55:06 PM
It is sad to see that economic conditions are not good and still people pouring such big amounts into gambling daily which can be used for the betterment of the society and solving some financial issues as well.But the great percentage is involved in gambling related activities which is also issue and we can say that the people want easy money through gambling or trying their luck to get rich.But according to me it's not the right way and reports revealing such big amounts is concerning.

I don't believe that the chase for easy money is the issue that those Nigerian have taken to gambling, no it is not their fault. It is the fault of government that has not provided good environment and social amenities for macro and micro businesses to grow. If you don't have electricity in the country then no business will thrive but those existing will close up to other countries, so maybe that could be the real situation and reason for people to go into gambling but that is not the right direction to source for income. However, Nigeria is not the only country with high rate of gambling activities and some countries with organized social amenities also gamble because it generates good income for the government.
1429  Alternate cryptocurrencies / Altcoin Discussion / Re: Inspiring Projects Shaping the Future on: November 04, 2023, 02:38:31 PM
I think bitcoin still stand out in the crypto world as it has broken different barriers in the life span of humanity from equitable investment and no sex barrier. It has broken barriers between the rich and the poor just by believing, buying (DCA) and hodling. Bitcoin has broken the barrier of climbing to new financial status only by family history and royalty, by having to work hard physically to own manufacturing asset but now you can work smart DCA with bitcoin and you have left the low live status after the bull season. It has silence the old bubble stories  Grin
1430  Economy / Gambling discussion / Re: Flip or Trade? What’s The Bigger Gamble? on: November 04, 2023, 02:16:11 PM

gambling is not a an investment and trading is for investment but

Really.... Well I know gambling is not an investment and in my view also trading is not. What I am sure as investment is hodling of a coin preferably bitcoin. So for trading, it is also risky and you can lose all of your money at once but investment like hodling in bitcoin can only depreciate but will regain its value more than what it was in the previous ATH. Yes it is debatable if trading is investment and I'm not convinced otherwise.
1431  Economy / Speculation / Re: Bull season started? on: November 04, 2023, 11:32:38 AM
I thought that when the price broke above $35k, it would trigger the next bull run, but it seems there's a strong rejection around the $35k level. The volume has also been decreasing over the past week. In my opinion, the potential is leaning more towards sideways and bearish movement as long as the resistance level is not surpassed in the short term and the retest fails.

I estimate that when the daily candle is above $35k, we'll see an upward movement in the near future. However, my view on this might be a bit hasty... it could take another week to gauge the daily candlestick's movement.

I will be careful about bull run confirmation for this year because it is still not halving and bull run will not overide halving. Moreover, that bitcoin price extends from 30k to 35k is just the pump here and there and should not be seen as bull run so that we don't get confused. So I see that as side ways ranging of price, the real pump and volatility will be during the bloc splitting.  This time around more adopters coming in so much btc is in demand while hodlers are aiming for the bull.
1432  Economy / Economics / Re: choose an option on: November 04, 2023, 10:52:26 AM
~Snip

What if bitcoin price fails to rise and falls below 24k$? There is no certainty that bitcoin will increase in price and double its profits.

It only takes patients for btc price to appreciate again after it drop and you either have the chance to exit at your buy price or you DCA for potential profit. Bitcoin is highly volatile and that is why most choice have gone for bitcoin. It is also a hedge on inflation so whichever way you look at it bitcoin will still stand the taste of time. If you also go by the history of bitcoin, it has always gone pass the previous ATH , that shows it is an asset for the future and will keep appreciating in value after every halving.
1433  Economy / Economics / Re: AI will put an end to work, says Elon Musk on: November 04, 2023, 10:15:53 AM

And even in cases where automation does replace certain repetitive (or routine tasks), there are usually new opportunities that arise, requiring human creativity, empathy, and problem-solving skills. For example, empathy is not something you can get from AI.

You have well observed this lacuna in AI technology and that has been identified by the neuroscience even though I have read that they are working on that to at least have a mimic version of human emotion. This I don't believe is perfectly achievable because it will all confirm the fake version of the original.

Well musk might be laying his staff off while replacing them with AI because they could be perfect for his kind of investment but definitely not for all spheres of live.

He even claimed that humanoid robots might be a perfect friend for one of his sons who is having difficulty in having friends.

He should tell his son to think like a human being and not a robot then certain he would attract his likes. Human have blood, feelings and emotion, feels empathy and happy at a point but robots lack those.
1434  Economy / Economics / Re: How do you manage your finances and family if your income is low range? on: November 04, 2023, 09:19:52 AM
There are many people around us, where their income is not enough to manage a family how do you manage your family and economy? There are many people who manage their family very well even though their income is very low in their personal life, how do you manage it?

Sincerely speaking life has been so thought for such people. When you aim higher you meet up some certain things in your house hold like living in a nice house, sending your children to nice school and eating 3 square meal a day.

But for those low Income earners, managing a family is always difficult. How they survive is by cutting down their expenses to the lowest.  according to how there name implies. Ranging from sending their children to public school instead of private school, living in a location that is less civilzed so as their rent to be less compeard to those people living in the main city. When buying food you buy in small quantity and give law on how it's going to be consumed. They often leave a life of borrow an pay.

Well running a poor house hold is more of understanding than cutting down on standard of living and majorly it depends on the understanding of the woman in the house to be able to implore ways to manage because despite cutting down expenses, there will still be some needs that will not be touched no matter how you manage to reach to them.

However, women have that managerial skill to be able to implore alternative cheap means to still achieve same result, like instead of using fish to cook, they might alternate it to crayfish yet giving the food same nutritious taste and nutrients needed for the children. They say it is the good woman that keeps the home.
1435  Alternate cryptocurrencies / Altcoin Discussion / Re: Market warms up, what altcoins can help me rich? on: November 03, 2023, 08:32:29 PM

Take for instance someone bought before 2021 bull run at about 20k and the bull run took us to about 69k, assuming the person took profit at 60 range and wait to re-enter the market this year at 15k, don't you think the person will be on profit more than the person that bought 20k, allowed it to fall back to 15k because they wanted 2 times bull run.

I like this analysis of taking profit and I think that is the best way to take turns in picking out returns or ROI rather than hodling for two different halving bull run and only taking out one single profit for the two bull run. People only want to brag of halving some coins in their custody while others are smarter than that, they take profit at resistance levels and wait for the support level to enter after retest. Except someone is scared not to misuse his coins by converting and spending it then they may be justified to continue hodling or they are only hedging against the inflation from their fiat currency but a real investor goes for long term and short term returns.
1436  Economy / Economics / Re: Is academic pursues enough to get incomes? on: November 03, 2023, 07:05:43 PM

Most people who go for more degrees believe they can get better job at the end of the day. People that only go for more degrees in a stare with high unemployment rate are they doing right thing by putting all their focus on academic because this is the only thing they can do best.

This use to be the way and pattern for wealth in the past but I don't think that how many degree that you have now can be the prima facie factor to riches,.Degree is good because it gives you an advantage to access better profiting measures that can help you climb but really you don't need a job with WHO or UN to be rich.

With the advent of social media and internet, many influencers have broken some many financial records. You need a degree but that is not what you need to financial glory. You need the right contacts and placement to be able to attract that spike to financial status. Living ready is the ultimate.
1437  Local / Nigeria (Naija) / Re: Best way to invest in Bitcoin on: November 03, 2023, 05:02:27 PM
to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.
Well, I think at some point,  bitcoin investment shouldn't be referred to as an investment in which you only put up what you can afford to lose,  that statement is now outdated because in investing in Bitcoin you don't lose your money,  and if you hold 0.2BTC,  the value remains same at all time unless you exchange it to fiat only then bitcoin value will be calculated based on the DCA value.

So I think that the best way to go about this is to say,  invest an amount that you can put aside for a long time because you don't lose money while holding Bitcoin but you may lose time because there is no specific amount of waiting time when it comes to bitcoin investment,  you have to be ready to go in for long term base and not short term speculations.

People usually talk about how one can burrow to start a business and some Bitcoin speculators believe you shouldn't burrow to invest in Bitcoin. Now considering what you just said about how one won't lose their money in Bitcoin of course with the right knowledge and all, is it advisable to burrow money in order to invest in Bitcoin ?

When investing in Bitcoin, you may loose time due to the fact that you may not have the necessary income to invest at the particular moment. With the current situation in the country too, savings may be difficult, and we all know that the price of Bitcoin would according to experts, increase as the years go by. So,with all these factors would the best way of investing in Bitcoin to burrow or take private loans from whales ?

The reason that you get that kind of statement on not to borrow to invest is that when time reach to repay, e go become problem. But for me if somebody get means to repay even when him investment crash, I no see it as something wrong especially now wey bitcoin halving dey come and that one na sure investment then after the rise to the level you want then you cash out and repay. So e depend on the investment and means to pay back.

I no fit borrow to buy any altcoin though, only btc and na for only this season wey we dey expect bull run.
1438  Economy / Gambling discussion / Re: how to start betting on sports? on: November 03, 2023, 01:00:00 PM


do not reply with suggesting good platforms to bet on, I already know reputed platforms to bet.

You seem to know what you want but I will have to tell you as a reminder that sports betting is also like those other betting you mentioned but it is your preference to choose the sports probably because it is the most popular and you can see someone to teach you more or direct you properly.

In betting, the chances for you to turn in profit is limited, meaning it is not to be relied upon as a source of income. From the way you are expecting profit, don't always think profit is assured in sports betting, it still has element of luck on it so play reasonably and bet as you can afford to lose.

I recommend you read through this board to see more about what gamblers have written.
1439  Economy / Gambling discussion / Re: Stop the self entitlement claims on others gamblers winnings. on: November 03, 2023, 12:37:28 PM
This is an issue with the country's regulators. Why such a poor country as Nigeria has allowed betting to become so widespread and accessible even more than food is beyond me... If there are resources in Nigeria to build up such a large empire for betting, the government should also tax its profits and invest in oversight. Betting companies should be forced to give back to sports themselves  because in reality its the athletes that provide all the entertainment and content that  betting is built upon...

So if this is an issue of anything, it's an issue of corruption. The government is corrupt for letting megarocps take advantage of its people so freely without giving much if anything back. So I would never put the blame on the individual gambler.

Friend I think you are missing the point of op which is basically on entitlement mentality of other gamblers not satisfied of the freewill gift given by another gambler to them because he won his bet. I think he was happy winning his bet and out of his magnimity decided to give some part of his winning to them. So that is the point if discuss.

But talking about taxing of gambling houses, yes they are taxed like other companies in Nigeria but although I believe tax evasion is high in Nigeria because of corruption.
1440  Economy / Economics / Re: Are You Sticking to Your Plan or Has Life Made You Pause or Modify It? on: November 03, 2023, 11:04:52 AM
have unexpected events caused you to pause or modify your plan? Despite our best efforts there are instances where sticking rigorously to a plan becomes challenging due to the unpredictable nature of life.

The unexpected event is the economic situation that harsh and biting on the pocket of the man on the street which has caused reduction in the standard of living and lifestyle. The economy has not improved over a long time instead it is dropping rapidly and people can no longer continue to maintain their lifestyle and they have to reduce their taste for life.

Inflation is high and that is causing the value of fiat to depreciate, so you can't use the money meant for the home for drink with friends and that area of socialization gradually feds away. It is unfortunate how things are changing rapidly for worse.
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