Have you seen any significant drop in gas prices in your area? Will oil drop even further, despite the ongoing war?
Looks like the downwards trend of oil is continuing, right now WTI is trading at 83.45 USD and Brent at 89.26 USD. This should mean that the gas prices are more affordable, unfortunately I don't see any shifting in the prices at my local gas stations. The price I have to pay for my fuel is still very close to the prices during the summer when Oil was above 100 USD. As always the petrol companies are eager to increase prices as soon as oil goes up, but whenever the prices are falling the profits are not being given to the customers. It's a similar story with the gas situation in my country. The prices on the gas market had been falling for some time now, but I didn't hear of any supplier giving the lower prices straight to the customers. It might take another 4-6 months for the lower prices to drop down to each household. Before the war the gas company had one fixed price for the year that was set at the start of the year and had to be paid in monthly instalments. And now we had two price increases in less than 8 months. |
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This has a probability to happen. If someone is determined to launder money, he will definitely find a way to do so. After all, if they initially have the money to launder, they sure have other resources to find their way out such as paying someone or bribing the platform itself.
Assuming a person is rich enough to launder money and has the power, laundering money will be an easy task. Avoiding taxes is one of the reasons why they do it. Another thing would be non-declaration of money source. Using another identity to put up an account for your funds could be an option. Just like you said, they can easily hire someone to open up an account for them and place all the money there without other people they know of, being suspectful of them. They can also make a ghost account using other people's identity by infiltrating the system or bribing the people working there to manipulate or make an account readily available for them. There are really so many ways to launder money in different platforms if you just have enough means. Which is why the security should be tightened, in general, to determine these kinds of illegal activities. KYC is one thing, and they should probably add other security measures to ensure that the casino is safe and is not tolerating fraudsters. This will be a minus points for those who don't like KYC, but it's becoming more and more needed these days which is why I can't really blame the government for regulation since there are many unusual activities happening in some platforms involving finances.
I am not really experienced when it comes to money laundering, but I know it's a big issue in some countries and it gives a bad feeling to the online gambling industry. That's why it's good if casinos want to be more save and include KYC on their website. With it they are not only protecting themselves but also making seem gambling more trustworthy. Of course KYC is not going to get rid of money laundering, there are too many ways around it. Like you said people will just pay someone else to open an account for them and use their name. I would expect that all the criminals with large amounts are using other people and identities to launder their money. Once you get enough money you want the freedom to use it, having a clean name without any limitations is the main goal. For a casino to prevent that it's very hard. The other way through bribery seems easier preventable. Communications online are so easy to save, even when done through messenger apps. And it's not only the communications that can be found also large sums of money being transferred to employees of the casinos will be a red flag. Once a big bribe scandal comes out the brand name of the casino will be ruined and it becomes very difficult for a casino to not lose all it customers quickly. |
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I try to avoid PayPal as much as possible, but I am not sure if I could actually delete my PayPal account. My main concern is that PayPal is so closely connected with ebay and the small advertisements sites. My preferred payment methods would be cryptos, cash or a bank transfer. But whenever I get contacted by a potential buyer they also ask for PayPal. It's annoying how dominant they are in the market. And now with all the changes to their services it becomes a huge risk for anybody dealing larger sums of money through them. I would advice everybody to move all his money away from PayPal as soon as it arrives, don't let anything sit there for a few days. I wonder how many reports are enough to freeze your account and give you a hefty fine. Imagine you get a false report and did nothing wrong to still face to pay a big fine. The new system sounds exploitable and not save at all.
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World Cup Qatar 2022 is almost here! Futuur will offer markets on every game through the final, and lots more. Get in on the action & make your bet on the future of football! ⚽ #worldcup Nice to see new websites coming for the Worldcup. Even though it's in winter this year and there won't be any public viewing I am getting hyped for the matches. Hopefully there won't be another covid wave coming and closing all the bars again. As for betting I am looking forward to make some profit with this tournament. I will definitely go and check out Futuur for their odds, but I would never pick only one bookmaker to place my bets with. There are so many different bookmakers out there these days and there are discrepancies between them that have a big effect. Before placing a between I always compare and switch the website if I can make $5 more profit. |
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It is possible that there is someone in the world who will begin farming this year. Grow and sell a harvest. To produce more next year. Who will possibly become a millionaire through the process. Rising cost of oil and difficulty associated with shipping food products from overseas could all contribute to making it possible.
That is an interesting take on the global food situation we are facing this year. Food price have been rising for years now, but the rate at which the prices seem to go up increased a lot since the Ukraine-Russia war. Starting to grow and harvest your own food locally could be a good idea to reduce food prices if you have the land to cultivate it. No idea though how hard or easy it is to get your hands on some farm land. Prices for residential or commercial land are at all time highs in my country and it's nearly impossible to find something on the market right now. From a friend whose family own some farm land outside from the city for generations I know that they get letters from time to time with offers to buy the land, but they are not selling it. Another factor will be fertiliser which got a lot more expensive this year and increased cost more for farmers. In my country we saw a lot of protests from the farmers this year who are struggling to make a profit. I am not sure what are the return expectations for a farmer at the start. It might take several years to break even and get the money back for all the equipment you need to buy in the beginning. |
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Are you ready to face it? This condition is caused by the COVID-19 pandemic and uncontrolled inflation and other factors. if you as an investor need to withdraw investment assets or move to other investments or just keep quiet. what steps will be taken to secure assets to avoid unwanted risks
At this point it feels kind of too late to sell Investments. A good opportunity to take a profit was when the Russia Ukraine war started, but since then prices have dropped so far that it feels wrong to sell now. Even though recessions are inevitable it feels better to sit out any further price drops. It comes down to if you expect things to get worse in the near future or not. We never know when the crisis is over and things could go back to normality really quickly. Another big concern I have with selling investments is the tax aspect, whenever there is a profit in trading the taxes need to be deducted. This reduces the profits by 25% and doesn't make it worth it in some cases. Better to sit this one out in my opinion in case inflation rises even higher. |
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Friends do you have any ideas related to dice game that you would like to see?
That's a though question, I rarely see any contests here on the forum for dice games. Dice is usually played alone without much interaction with other gamblers. The easiest contest that comes to mind would be who has the most rounds played or who bets the most money during a week. The problem is that the both are dependent on how big your bankroll is that only the whales have really a chance to ein. It would make more sense and be more entertaining who reaches the highest multipler or who hits a specific target. Funny numbers like 69.69 could a good target and who hits it the earliest wins. Another factor would be the price money, it needs to be some good prices and also for the second abf third place to really be attractive for gamblers. Maybe if your casino is very new you could run some special promotions? This would also attract more new customers to your site. |
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Would you be influenced by your favourite Celebrity who you know gambles and one day happens to post the games he played, would you be influenced to play the same game?
I am not really following celebrities so much lately, in the past I used to have a few celebrities I followed on social media. But since my new job I have less time and took a break from social media, it's too time consuming and a bit addictive. It's cool if famous people show their betting slips, I enjoy seeing large bets and it's make them more likeable. Usually there is not interaction between the big whales, so when a celebrity posts how much money he puts down in a single bets I am rooting for that event. Placing a small bet myself doesn't hurt and it's gives me the chance to win some money too. We don't know how much information he really has and maybe he got some special tip that leads to a nice payout. As long as we don't look at it as a safe bet that can't lose, everything is okay. There is always the chance for us to lose the money, and for a celebrity it won't hurt losing 500k or million. That's why I only place a small bet to not feel bad if something goes wrong. |
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Do you think Elon Musk is one of those who will push the price of bitcoin up to reach 100k$ each when the bull run comes?
We all know about the power of Elon Musk in the crypto community, one positive or negative tweet from him can send a coin flying. Personally I think he has too much power and I didn't like what he did with tesla any bitcoins, first accepting 1 btc for one car and then stopping with bitcoins all together. One person alone shouldn't be able to influence market so strongly. I really hope that the crypto investors became more autonomous and don't follow every word Elon Musk tweets. It's only a matter of time for bitcoins to break the 100,000 USD level, but I hope it's not due to Elon Musk pushing bitcoins. Because if we be changes his mind than he could send the price back down very quickly again. Hopefully long term we will reach a more stable price for bitcoins that is not going to fall largely because one person is selling a large position. |
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It is a much discussed topic and probably also quite a big and social problem in society today. More and more children are gambling and how do you deal with this as a parent? There are also many children who know how to keep this well hidden. And at what point do we still speak of children? Someone who is 50 and has a son who is 30 who gambles is officially also a child. But that is different from a minor child who is already addicted to gambling. The only positive thing about underage gambling is that sites do not allow you to create an account if you are underage, you could still play with bitcoins. But otherwise you can only gamble reasonably innocently until the age of 18. Then you are talking about poker with your friends for fun for example.
I think this is the worst if children are gambling and not telling their parents. Even when you are not a minor anymore it feels wrong to hide your gambling activities from your parents and your friends. It's one thing no not tell them, and it's another thing to lie to them to try and make them believe you are not gambling at all. All the children in my family are still young and below 10 years, gambling is not an issue yet, but it will be eventually. I know that my brother in law likes to gamble to and we sometimes talk about it. My parents don't really like it but they accept it and we can talk about it openly. It's the same thing I want with my children as well. It's so much better to talk openly about something than banning it for our kids and not knowing it they will follow the ban or not. Eventually our children will make their decision alone and we can't influence them forever. In many countries is gambling part of the culture and its nornal for kids to be curious. I still remember how I was with 15/16, you see the casino life in movies and want to give it a try yourself. |
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Just wondering if everyone invests in Bitcoin or is it worth just focusing on strong altcoins that can 20-50x in the next few years?
In my opinion you are doing the right thing, keep buying Bitcoin with the DCA method. The price level of bitcoin at the moment makes a lot of sense and over time your bitcoin holdings will grow. I am also using the DCA method and think it's the best approach. Don't sell your bitcoins into altcoins, that's way to risky. There is no guarantee that an altcoin is actually going to make 25 or 50x return. You could also lose all your money. Bitcoins is a much more safe investment that should be part of any crypto portfolio. If you really want to invest in altcoins then you could reduce your new bitcoin purchase and split it between some other coins. But do keep holding the bitcoins you already own. |
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Just this weekend I read that the metaverse from Zuckerberg had only 38 active users at one point, which is an insanely low number for a 15bn USD project. Not sure if the is legit, I have no VR setup at home and don't want to check out any new social media platform from Zuckerberg. Among my friends and family nobody is interested in the Metaverse. If there are no active users than the project is doomed. For me the only way to get into VR and the Metaverse would be for gambling, but I don't think Zuckerberg will focus on gambling. That's a great opportunity for China, they have a much larger consumer market and if they can manage to integrate gambling successfully then it's going to be a big hit when more people use VR. The only issue I would have with Chinese meta casinos is that they like to restrict foreign currencies and might make using crypto currencies impossible.
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I always thought that Metaverse is a stupid idea, it can only succeed when VR is massively popular, which it is not right now. Zuck is trying to put a cart before the horse.
I thought so myself, this metaverse project makes no sense at all. Why would anybody use it in the first place? Even if everybody had a VR setup at home, would you really be using the Zuckerberg metaverse or a different company? I am pretty sure there is no way he is going to turn the project around. So much money invested in that project and nothing to show for, the graphics are bad and there are no active users. At this point it would make sense to abandon the project and write it off, maybe get some tax benefits for failed developments. It's one thing to not have enough VR setups with customers, another thing is the brand name of Zuckerberg. I don't think there will be another success company like Facebook it its good days now from Zuckerberg. Many customers are very sceptical when it comes to another social media experience from Zuckerberg. |
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Gambling is a game, its just a different background and emphasis to its gameplay. Some games I've played you are partly gambling anyway or part of the game is a gamble though its usually around aesthetics rather then winning or losing the game. People take gambling a bit too seriously I think, I understand wanting to win but it is a game in effect and you will pay a price to play it. Accepting the game, its rules and the bias there is towards paying something for the experience of playing is most realistic then believing any delusion its about making money; at the very least you must master the game before considering any profit possible not the other way round.
If you think that gamblers take their casino games to serious, you would be surprised how competitive and toxic high ranked games in Dota or CSGO can be. I have played both games excessively over the last 6 years and its sad how fast a normal chilled game can turn into a group of angry people shouting at each other. These are games to have fun with, there is no prize money or any other monetary benefit for winning or losing a game. And still people become extremely serious and toxic in online gaming about minor mistakes. A bad fight or losing an important round can bring out the worst in people. When it comes to gambling I can understand that people take it more serious for real money that is involved. Especially if you gamble with more money that you can afford to lose it becomes emotionally frustrating. I would say that someone who becomes easily angry at online gaming should be careful when switching to gambling. Having your emotions not under control will be even worse when you have a bad day in a casino. |
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If you are playing gambling for example slots and you double money with just a couple of bets on very early part of your game. Will you stop already or continue playing to earn more?
Usually I am not so lucky like you at the start of my gambling session. Doubling your money very early in a session is a great thing and only needs a little strict behavior from you to not lose any money. What I would do as soon as I double my money is to take my initial starting money back out and only keep gambling with my profit. Like this you guarantee to not lose any money on this day, and if you keep winning more money I would take out a part of the profit as well. When it comes to gambling it's important to protect our bankroll. Whenever there is the chance to make a profit I would take it. This doesn't mean to stop gambling all together, just saving some of our winnings up protect the bankroll. |
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The funny thing of 2022 is that none of the traditional asset classes protected us from the rising inflation so far. Stocks were hit pretty hard and are down 30% on average, usually stocks can atleast partially withstand inflation pressure, not this time. Bonds were also a bad investment because of the rising interest rates. And even gold the number one inflation hedge back in the day is down considerably from its 1900 USD levels. Investors must have all swapped into cash, what seems as a pretty bad idea with inflation rates at 10%. With that in mind bitcoins and other crypto currencies is one of the few good ideas to protect ourselves from inflation. The price drop we saw over the last several months is giving us good entry prices to top off our holdings. I rather trust in bitcoins than in gold or silver to protect our money from inflation.
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I got 20 years in stocks trading and 5 years in Crypto, trust me that you don't want to do day trading you will end up losing all your money
Even with 20 years of experience in trading you lost all your money? Sorry to hear that. Risk management is of one the most important tools when it comes to trading in my opinion. I have less experience than you and also had my share of big losses in the past. What I learned from losses is that is more important to avoid losing money than to chase the biggest returns. It doesn't matter if you make 5% or 10% return on your investment if you lose all of it in a few weeks. The best thing that helped me to go broke again was diversification, I am splitting my money across different asset classes and never invest all of it only into one trade. The broader our portfolio the higher the chance that some positions will be in the green when other positions are tanking. Day trading is nothing for me anymore, because I don't have the time to be successful at it. Without spending enough time to do research and constantly evaluate your positions it doesn't make sense to trade every day. My personal investment approach is more long term as I have to spend a lot of time between my normal job and my family. You need to find the best approach to trading that makes you comfortable and where you make money long term, if you are not happy with day trading anymore take a break from it. |
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An interesting question is, If the younger person wins the lottery from the gifted ticket, will the state agree too pay them or wait till they come of legal age??
I am pretty sure the lottery company will have to pay no matter what. As long as the ticket was bought by a person that is at least 18 years old there is no issue. I remember me and my sister got a one year lottery ticket from my uncle for christmas. We had a fixed number that we could check every week for possible winnings. In 52 weeks I managed to win two times a small amount, and even though I was only 14/15 years old back then I had no problem getting my winnings in the shop without my parents. Winning the jackpot would be very different of course, for the millions you need to directly contact the company and even decide if you want all the money at once, or fixed monthly payout. For that you definitely need your parents to sign the contracts in your name. But the lottery company can't withhold the money from you. So far my gambling highlight was in Las Vegas, seeing all these amazing casino from the inside was an great vacation and I hope to go there again eventually. My next gambling vacation is going to be in Macau, I really want to see the difference between the Asian gambling atmosphere and the European/American one. |
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CONCLUSION
Most time we blame our government and economy for being poor. Although they contribute largely to the masses poverty but we also need to work on ourself to make a difference out of the bad economy.
The biggest problem I see that hinders us from becoming rich, is that the living expenses are rising faster than our income. You made a lot of good points in your post that can help us to save money as an adult. But the big issue is still that our expenses are growing once we get older. We need more money for ourselves to cover medical costs and save for retirement, then we also need more money for our family to support our children or parents. Giving our kids the chance to go to university requires savings, same for helping our parents to find a good retirement home. All the costs keep rising a lot once we are get older, while our income usually only rises 1-2%. That means we need other sources of income to offset these additional costs. Having an investment portfolio seems like the best idea, investing in different asset classes like stocks, bonds, crypto currencies and commodities. The broader and better diversified our investments, the higher the chance we make a decent return overtime. But if we don't start young to build up our portfolio over time it's going to be hard to get enough capital later in life. |
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Let's say you join a give away with other user and both have to select a number between 1 and 10, you go for 7 while he goes for 9. The winning number is 8.
If the prize is 0.1BTC what would you do? Split the prize and walk away with 0.05 or Reroll to gamble for the full prize?
Looks like I am part of the majority that would split the prize with the other gambler instead of rerolling. Usually I am very competitive, but when it comes to gambling I am all about sharing the profits. From my past experiences I know how hard and frustrating it can be to make a profit in gambling. If I have the chance to take a profit and quit then I would do so, if my fellow gambler also gets a profit from it it's great. This would also save from the case that I go for the reroll and lose, then the other user would get it all and I would feel terrible. 0.05BTC is still an awesome winning amount of almost 1k USD today. No need to be greedy and get nothing in the end. |
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