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1921  Economy / Gambling discussion / Re: How my lack of knowledge has blinded me so far on: March 19, 2023, 02:05:54 PM
As a gambler he is responsible for the gambling sites and licensed casinos are liable to the laws of that country. These sites will require KYC to avoid their liability however, KYC is not a big issue for non-license based casinos. But KYC is required to avoid money laundering issues. And I don't think there is any other important issue related to KYC other than the fact of money laundering. One of the main reasons for the rapid growth of crypto casinos is that there is a gambler's anonymity.

Anonymity is negated after KYC, all casinos are already asking for verification as it's basically the regulation of the government. The nonlicensed casino only lives for a certain period of time, they may not be asking KYC but once you win big.

If you plan to continue playing without issue while you have an outstanding balance in your account. KYC is just a security for you and the casino itself that they won't be investigated.
1922  Economy / Gambling / Re: 1xbit1.com - New 1xbit.com management - We will try to solve all the problems - on: March 18, 2023, 06:37:24 PM

I guess having a few threads about 1xbit solving scam cases will make them reputable in thier own eyes. They ignored thee users who got unresolved cases in the old thread but now a new one. Cheesy

It takes years to acquire credibility though. There have been a few casinos that already gave up because of unsolve scams that ruined thier reputation. 1xbit has money for this campaign though.
1923  Economy / Gambling discussion / Re: Physical gambling and internet gambling which is more fun. on: March 18, 2023, 06:09:38 PM
I think it all depends on personal experiences, "knowledge" of a certain event and what are your ideas of "fun".
Personally I find betting or playing in real life very funny, but by now, the opportunities to do so have practically disappeared, since in my country gambling is heavily controlled/taxed.
vice versa, I always find online gambling a valid alternative to have fun, regardless of the real or less possibility of winning substantial sums of money  Cool

It all varies to preferences. Less contact with real people I think is less problematic. Just playing online is just as peaceful as a lonely as a cloud.
One reason why people are fighting in the middle of the poker table is that they knew each too well. Like Confucious says "Familiarity breeds contempt.

I have some cousins and some of his friends visiting him all the time in their backyard where we play cards. Each is disrespecting the other in a subtle way already because each owes something at some point.
1924  Economy / Economics / Re: Should we take the collapse of SVB and Credit Suisse as indicators of Woes Ahead on: March 18, 2023, 05:59:52 PM

Credit Suisse is a huge bank that has been around for a century, if they are struggling to afloat, the rest of the banks may just also be neck deep.

Not all banks are like SVB though. The ones that are withdrawing though are the investors like VCs on SVB. After finding out the bank can not provide the cash the VCs are withdrawing, everyone VC hurries to also get thier money out.
1925  Alternate cryptocurrencies / Altcoin Discussion / Re: Why The Majority Of the Population Will Embrace CBDC's on: March 18, 2023, 05:27:11 PM
Op, do you think common people are stupid? Governments have never positioned CBDC as any one of the four points you have mentioned. Governments are positioning CBDC as a convenient mode of value transfer and nothing else!

In turn, the government will get many incentives like complete overview of people's finances, effective curb on money laundering and a weapon against black money hoarding. CBDCs will be adopted by the population because it will soon be mandated by the government.

I'm sure that's not what he means. The general public is what he meant by that they are susceptible to getting into these CBDCs with just simple incentives because people are already hungry and with no jobs.

When the government 30% of the prices of basic goods, it already will crumble the family expenses. People do things to survive even selling thier souls. With CBDC providing comfort and they get free money, they are all in.
1926  Economy / Gambling discussion / Re: Most of the world population involved in gambling on: March 18, 2023, 05:15:45 PM
Thanks for some actual statistics.

There is a huge difference between "people who gamble" and "people who have gambled". When the Super Bowl comes around, I have dozens of friends and colleagues who never usually gamble throwing a few bets on. When the football/soccer World Cup comes around, almost everyone I know has a sweepstake or similar being organized in their place of work or in their friend groups, usually with a buy in of somewhere around $5-20. All of this counts as gambling and puts all these people in the category of people who have gambled, although almost none of them are regular gamblers who bet daily or weekly.

It doesn't surprise me that the statistics show that the vast majority of people in the US have gambled at some point, while <1% are considered problem gamblers.

Most likely fans are going to bet when they know thier sports hero is playing. When a news channel flashes that Ryan Gacria and Tank Davis are set to fight in the next few weeks, boxing fans even women are up to bet for their favorite fighter.

They don't regularly gamble but if they are in the statistics among the 30% of 70%. The numbers must be wrong, not all people are up to keep the gambling activity even if they win whenever they gamble.
1927  Economy / Economics / Re: How will Fed bailing out banks increase inflation? on: March 17, 2023, 10:29:05 PM
The Fed creates money to bail out the bank, adding to inflation. When the money is returned to the Fed, the inflation will be reversed.

They do create this money but this money is never spent.

Suppose this,

Its like someone having staked ETH which they couldnt withdraw, ETH foundation created new ETH in exchange for those locked staked ETH so that user could withdraw immediately. Then when those locked staked ETH were unlocked, the ETH foundation would take them back. So the supply remains the same.

The above example is all hypothetical.

I don't think that's the right comparison.
When FED is bailing out, the money doesn't just come from someone, they will print more money while people will keep withdrawing their money out of the banks, and ofc this causes inflation. Your $250K may not be worth $250k in the next few months.

ETH foundation afaik will just create a proportionate number of ETH based on the locked/staked ETH. Whether it could be withdrawn or not, it's up to the exchanges.
1928  Economy / Gambling discussion / Re: Physical gambling and internet gambling which is more fun. on: March 17, 2023, 04:14:45 PM
Having to laugh with friends you gamble with makes physical gambling worthwhile. It's how it should be but because things have evolved we can already do it with our phones as well. So it depends on your preference.

Physical gambling is more fun because you experienced it first hand. It’s like sex which physically is much better because you can feel the intensity of what you’re doing.

Obviously those user that will choose online over physical gambling doesn’t experience the physical gaming. No offense, Online gambling is good because it’s convenient but physical gambling is the best if it comes to fun.

I like the analogy. I guess those who are jacking off the webcam are like online gambling.   Cheesy  
I agree about physical gambling is more fun though. I like it better with my cousins and friends and not inside a casino. Its the time when we get together, play cards and drink beers.
1929  Economy / Speculation / Re: Asia Pushes Bitcoin Past $25K on: March 17, 2023, 05:44:47 AM

I think this because the US and EU are pushing away the cryptocurrency industry. Blockchain-based companies are moving to a safer haven where governments are setting up a particular venue for them. Asia is the place to be even China which still rejects crypto, is allowing Hongkong.

But I wonder what sorts of projects they welcome besides BTC. I don't think its Asia that causes the price to go $25k, but this must be because of the bank runs.

1930  Economy / Gambling discussion / Re: [Boxing] Tank Davis vs. Ryan Garcia betting and discussion (May, 2023) on: March 17, 2023, 05:12:29 AM

^ With the fight hype like this, they would really want a rematch and Golden Boy wants its space for it. I think no matter who wins they will have a rematch. And If I would read between the lines here. They will deliberately set the fight just enough to make it fun and exciting yet also disappointing to consider a rematch.
1931  Economy / Economics / Re: The impact of Russian and Ukrain war on world economy on: March 17, 2023, 05:02:52 AM
a war between Russia and Ukraine can greatly impact the world economy because both countries are important in the energy, trade and global geopolitical sectors.
Impact caused by the war between Russia and Ukraine:
1. Oil prices are rising
2. the instability of the currency
3. Trade disruption
4. geopolitical impact

Oil prices are volatile at this point. Yesterday, at one point Brent crude dropped to $72 per barrel, although it recovered slightly to $75 later. When the Russo-Ukrainian war started in 24th February 2022, Brent crude was trading at $90 per barrel, which means that it has lost 20% of its value since then. And all this has happened despite increased demand from China. And there is no "trade disruption". Simply there is a transformation in trade routes. India and China have replaced the EU as preferred trading partners for Russia.

Yes. it was also heavily impacted but If we pay attention to what is happening now, one of the main impacts is the imposition of economic sanctions on Russia where the international community has imposed economic sanctions on Russia in response to its actions in Ukraine.

It is undeniable that these Sanctions can have an impact on the Russian economy and its trade relations with other countries, which can have a ripple effect on the global economy. A war between Russia and Ukraine could have far-reaching effects on the world economy.

One more thing, the uncertainty of conflict resolution can also affect investor confidence and financial markets due to unresolved geopolitical tensions.

Russian economy still stands and has been trading with countries like India, China, and BRICS nations and they will have enough money. And while they are gaining rich lands from Ukraine.

They have been telling that sanctions will crumble Russia but it's not true anymore, after a year of this conflict, the sanctions are not affecting them.
One option is to make a deal with Russia and accept that it's the end of it and Ukraine has to make peace and be neutral to resolve the geopolitical tension which is also the root cause of this war.

Escalating this war to WW3 will be much more dangerous to EU. They can make war with smaller countries but not Russia.
1932  Bitcoin / Bitcoin Discussion / Re: Banks are once again up to their old tricks - Is your money safe? on: March 16, 2023, 05:32:18 PM

Now that they see something snapped in the banking system, the FED may drop raising rates next week.

It's gonna be a total disaster when every person realizes his family might not eat anything next week because his money is gone. But the bank depositors I think are the only ones the government is bailing out and not the banks AFAIK. $250k from FDIC.
People have to know they still get thier money or else its anarchy on the streets.
1933  Economy / Gambling discussion / Re: The journey of successful business man who were professional gamblers on: March 16, 2023, 03:50:20 PM
Many of whom are now active philanthropists, supporting various charities.

And scammers! Like Calvin, who out of his feel for charity supports a mentally challenged doctor of theology CSW. He probably made Calvin believe God made him invent bitcoin.

From wikipedia:
In 2012, Ayre was indicted by the US Attorney for Maryland on charges of illegal gambling and money laundering.

It's great that  they made their fortunes in gambling industry, I have nothing against that, but what's the point of the thread? If you think you can make it in this business, think again. These people weren't starting with nothing and aren't really role models to follow in all aspects.


The point is to change your life and be a gambler.
Those guys reached a point where they have gambled for a long time and thinking of something else like winning all the time and a business would be a good way to do it starting with the money they won from the casino.

They grow old sitting their ass for a long time on a poker chair, they win and lose so they decide to be the casino.  Grin
1934  Economy / Gambling discussion / Re: Referral bonuses are waste of time on: March 16, 2023, 03:18:07 PM
Thinking and actually promoting are different not because you read one issue you will generalize and categorize referral bonuses as a waste of time, you have to try it yourself first before you give your opinion that referral bonuses are waste of time.
There are actually promoters who make thousands of dollars from referring people and, this is free money you can use to wager or you can cash it out when it reaches the withdrawal threshold.

People will just have to pick the right casino to promote, not all casinos are the same when it comes to referral bonuses and rewards you have to check their terms and rules.

I would say that Referral bonuses are waste of time for those who do not have friends who can signup under their referral links. But think about social influencers who have thousand of followers and they can gain a considerable amount of Referral bonuses. So in a nutshell, if we cannot generate referral income, it is the problem at our end as the referral program can earn you good amount if you have the people who can signup under your referral link.

Jesus, you nailed it.  Not having a good number of following or having no channels where to promote the referral or a review site having no traffic will be hard to make it. Referrals do have thresholds to achieve also before you can claim.

I guess that's one requirement that a person has to have when he is up to make money out of referrals. Otherwise, it will be a waste of time. That's why streamers and vloggers are likely to succeed in the referral business.
1935  Other / Off-topic / Re: A burden I bear within. on: March 16, 2023, 03:06:15 PM
It's hard to start talking to someone who you have issues with and not any of you have something in common. The issue is too deep actually, you would hate each other to the bones. One or all of them would be surprised if you initiate and they will suspect you going to scam them if you talk about BTC investment.

The timing would be good if you are celebrating something like your birthday might just be a good time to invite them first. People don't want to strike up a fight when there is a celebration. Start by being friendly first.




1936  Economy / Speculation / Re: Get ready for the rising and pumping hours. on: March 16, 2023, 02:14:29 PM
 
There are already bank runs happening which could be the first that we may foresee. Credit Suisse is on the brink of collapse as it was said in the global news today.

We may not have to wait til November to see the price going up. When everyone panics because banks not working anymore, they will turn to BTC to keep thier money than depositing them in banks.
1937  Economy / Gambling discussion / Re: [Boxing] Nonito Donaire vs Alejandro Santiago for WBC bantamweight title on: March 16, 2023, 01:57:41 PM

^ Alejandro Santiago does not have a KO punch though which Donaire could really win despite him being older.

The one thing that's good about retiring while being a champ is that he is going to be remembered being a champ while if he retires while being beaten badly inside the ring, he will be remembered with his bloody face.
1938  Alternate cryptocurrencies / Altcoin Discussion / Re: Is it worth staking stablecoins? on: March 15, 2023, 10:56:41 PM
The risk of staking stablecoins is simply too high to bear. What happened with USDC lately, tells us that stablecoins should not be trusted at all. You'll never know when they'll go all the way down the drain in an instant. I think it's best to convert your crypto into cash to avoid unnecessary risks in the long run. Saving money in a bank could be an option, but rates are not that high compared to "De-Fi".

At least, the risk of loss is lower with banks. I'd expect stablecoins to mature once regulators tighten their stance against them. With fierce regulations, stablecoin would prove to be legitimate enough for serious investors. Maybe they will get to live alongside Fiat for generations? Just my thoughts Grin
Yes. The problem is not with the centralized exchanges but it was with the stablecoin themselves. What happens with USDC is not a new occurrence anymore so people should have learned already long time ago that they must stay away from them and stick only with cryptos. If they cant deal with volatility, then this place is not for them.

There is no problem with cryptos so they must not convert it with cash. Cash sucks. It is prone to inflations. Keeping your cash in the banks is even worse. Do you know what happened to the banks lately? Although that wasn't new either. Banks are a bad way to invest and make money. Not only that they are risky but the reward is also tiny. I'll better go with De-Fi than on them.

True. It's also the inflation that I'm worrying about if I convert my crypto to stablecoin because if the inflation happens so fast as the government prints more of the money, the buying power will decrease terribly in a short period of time. And you could be losing opportunity when BTC bounces.

It's why I am staking some altcoins at least just to diversify my investment. But it sure best not to stake on exchanges but in a wallet that is secure and I have the private key.

1939  Economy / Gambling discussion / Re: A costly gambling mistake on: March 15, 2023, 10:32:50 PM
I confess that I am not in the habit of reading the TOS of casinos, but I research the reputation of casinos, scam cases, cases of problems with deposits and withdrawals, so when I see that the casino I intend to use has problems with deposits and withdrawals and KYC and when I run to see the TOS, but I don't have the habit of reading the TOS without first doing research on the casino, I know that my defect is not good, but I also don't like to use many casinos at the same time , I prefer to use only stake.com only, because with that I avoid doing KYC in many casinos when stake.com has everything I need
You're not alone, many of us here I guess have that habit that we're not reading the TOS of where we're registering with. I think that's a par thing to do even if we don't read TOS and just sign up immediately but before we sign up, we're doing some research. However, that's still not a reason to avoid reading the TOS just because we've already made research. Actually, it's making me think that research first which is needed to be done, and then reading the TOS if we're decided to sign up and gamble from that casino we're researching. So, it's gotta be a combination of both of it to be not resulting into a mistake.

That's what users are doing. Instead of reading the TOS, they research on the forum and google to see if the casino is trusted or not. Once they find it good, they deposit and bet, that's just what is it.

I have no patience reading a long TOS that will take time either. Submitting KYC documents may be what he meant by costly but people are now OK with it anymore. There is no escaping from regulations. But it could be costly if OP meant the users will be cheating the casino.

1940  Economy / Economics / Re: If they have the solution, why are banks still failing? on: March 15, 2023, 10:25:28 PM
One reason was that according to the tinfoil hat men, the government is forcing people to use CBDC and wants crypto to fail.

If they fail, they won't let bank runs going to be publicly announced by the media and then those banks such as SVB and Silvergate were bought by bigger banks that have close connections to the government such as JPM.
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