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201  Economy / Economics / Re: Digital Bank on: March 16, 2024, 08:29:20 PM
We've got quite a handful of these digital banks in the Philippines, and as some have pointed, they are able to give out more generous interest rates than physical banks due to decreased operating costs by not having to pay for lease on buildings/office spaces. Plus, since the said interest rates can only be had if the money stayed in on an account for a certain period of time, users are usually just leaving their money there for extended periods of time to accrue said interest. This gives the bank ample time to make money off of these deposits and in turn, giving out the crumbs to their depositors to attract them to deposit more.

Other have pointed out that they're having a hard time reaching out to customer support for these digital banks. Here in our country, you can get connected to a real human in a matter of minutes. Don't get your hopes up though, because even though you can get a live representative over the phone, there is a high chance that you'll get passed on to several people before they can address your questions properly.  Cheesy
202  Local / Pilipinas / Re: Nagresign sa trabaho dahil kumitw ng malaki sa Bitcoin? on: March 16, 2024, 08:03:05 PM
Natatandaan ko nung 2017, napagod ako sa trabaho at humiling na sana magkaroon ako ng biglaang malaking pera para magpahinga. Sakto naman ang pagtaas ng bitcoin nung mga panahong iyon at meron akong naitabing bitcoins na galing sa mga signature campaign simula 2015. Ilang buwan pa ang nakalipas at kinonvert ko sa cash ang 70% nung stash na iyon, at nakapagpatayo ako ng computer shop, isang printing business, nakabili ng sasakyan, at nakabili ng sariling condo unit. Nagtabi rin ako ng cash sa bangko at sinimulang mag invest sa gold at stocks na thankfully e kumikita pa rin ng paunti-unti hanggang ngayon.

Sa ngayon e isa pa rin naman akong manggagawa, di dahil kailangan ko pa masyado ng pera kundi dahil gusto kong mag-move forward sa aking career. Malaking pasasalamat ko dahil yung curiosity ko sa bitcoin e nagbunga ng maraming bagay para sa akin. Kung hindi nag bull run noong mga time na yun, malamang e nagtitiis ako sa burn-out at hindi nakapagpahinga ng ilang buwan sa trabaho.
203  Economy / Gambling discussion / Re: Scratch Offs on: March 16, 2024, 07:02:37 PM
We have scratch-offs here in the Philippines, and the highest I got from it was 300 pesos (equal to $5.40) and every scratch off after that was just a money sink. It was fun though, you stake half a dollar and win more than that. The chances are extremely stacked against you, but it's still somewhat inviting to buy those in bulk and play with your chances considering how cheap they are.

I still play the normal lottery but avoided the scratch-offs altogether. It's a fun little game but just like the lottery, you will just lose money in the long run. At least with the lottery, you have the chance to win extremely big if you're just going to play with your chances anyway, why not take it to the next level.
204  Economy / Gambling discussion / Re: Paper Betting- Would You Consider it if you Were to Start Sports betting Again on: March 16, 2024, 05:56:39 PM
I'd do this even now with Excel. Heck, I'm doing this now with all of my bets and have been keeping score of everything for the past few months. It's actually a good thing to do even if you're already betting with real money. It makes you aware on where you stand regarding your bets and whether you're really making some money or not.

As for building experience, it's not a bad thing to do. Though of course, you're less motivated to be on your A-game when you do this since there's nothing at stake, just your stats on a piece of paper. Nevertheless, better waste time rather than waste both time and money.
205  Economy / Economics / Re: Senators pressure SEC’s Gensler not to approve any more crypto ETFs on: March 15, 2024, 11:58:21 PM
If this is not approved, the landscape will not change much anyways. The SEC not approving any other ETFs in the mean time is honestly positive for crypto overall. It prevents huge organizations from slowly encroaching cryptospace and making everything a centralized financial instrument. Perhaps taking these approvals slowly is the name of the game and not approving them all at once.
206  Economy / Gambling discussion / Re: Gambling Is Legal In Our Country But if You Promote It Online You'll Go To Jail? on: March 15, 2024, 11:40:00 PM
This is just absurdity coming in from the government. Most of the laws and ordinance from the Philippines related to gambling contradict each other. It's like they are protecting something, but at the same time, lets the actual danger roam around and take people's hopes. If they want to ban advertisements but not gambling, then they are just subtly promoting gambling since people will look in places just to know what platforms are out there to play on.
207  Economy / Gambling discussion / Re: Gambling is really unexpected on: March 15, 2024, 11:19:30 PM
That's a great guitar. I have that, too  Cheesy

Winning in gambling is really unexpected for the most part. Most of the time, we just prepare ourselves to lose since it's mostly the outcome of this activity. It's in when we don't really expect to win anything do we get the wins, and to me that's better rather than anticipating in something that will not come. I also stake low amounts sometimes, and hope for the best but was rarely met by success.

I know this win is a big one considering how much you staked. Then again, hopefully you don't get consumed by this huge win and pursue more wins because that might just be your end.
208  Economy / Economics / Re: Food security might not be a priority for younger generations. (2) on: March 15, 2024, 08:12:53 PM
This crisis demands innovation.  Imagine a world where we don't rely solely on traditional agriculture.  Perhaps the answer lies in "designer food," where oil and gas, currently used for fuel, are cleverly transformed into edible resources.  This shift wouldn't just put food on tables; it would also curb our dependence on fossil fuels.

Finance, the engine of progress, has limitations.  It can't conjure food out of thin air.  A world obsessed with stocks and bonds might neglect the fields and farms that sustain us.  Imagine a society where everyone's a trader, but no one's a farmer.  That's a recipe for disaster.

So, the younger generation holds the key. They can't afford to be one-dimensional.  Yes, finance and technology are important, but so is nurturing the green revolution.  We need engineers who can design vertical farms, scientists who can create drought-resistant crops, and entrepreneurs who can bridge the gap between innovation and affordability.

So this means you'll turn an already scarce resource into food, which will, in turn, drive demand more to fuel and deplete that even faster. It doesn't solve anything, and and it just adds more problem. No matter how fancy the solution is, the basics are still the most reliable and most practical to solve the problem. Have more farmers, allot more manpower to the farming industry, and possibly sustain food a little longer for the population before we can invent other reliable methods.
209  Economy / Gambling discussion / Re: When is best for a player to draw the line? on: March 14, 2024, 11:59:24 PM
If you no longer find joy in gambling and you are only focusing hard on the rewards or chasing the losses, I think that's the best time to stop. You're only headed towards disappointment or worse, addiction, if you don't cut yourself loose from this behavior. Regardless of the result (win or lose), quit when you are too caught up on results and not the entertainment it brings.

It may sound dumb to not focus on wins or losses but this is usually the pitfalls of gamblers: end result. When you no longer enjoy the process, you will just rush everything that leads to poor decisions.
210  Economy / Speculation / Re: Bitcoin might reach $100k before halviing. What is your exit strategy? on: March 14, 2024, 11:41:44 PM
I have sold 10% already when it hit $70k, and planning to sell more on $80k and completely at $90k. I also have a failsafe of selling everything at $60k should bitcoin lose steam and head back down to bearish prices. It's not perfect in taking all of the possible profits, but at least I'm still making more than what I initially invested on bitcoin.

Afterwards, I'll slowly start accumulating again and just do the same thing bull market starts to take form once more. It's a rinse and repeat process, but you must have the patience to do it for a long time.
211  Economy / Gambling discussion / Re: Should Online Casinos Publish Their Bankroll? Your Thoughts? on: March 14, 2024, 05:51:51 PM
Some casinos used to do that. They do it for transparency purposes to let gamblers know that they have the money to back up with their operations. It's a good thing they did that before, as there were a lot of scam casino operations back then that run once they got a huge payday or when they can no longer pay their customers back. In today's landscape, I see no need for casinos to do this, though it will be appreciated by the community as it's an effort they're taking to let their playerbase know that they really have the budget to pay out the winnings of their gamblers.
212  Local / Pilipinas / Re: Huwag magpadala sa at maging practical on: March 14, 2024, 05:38:13 PM
Madalas kasi sa karamihan satin ay isinasapalaran pa lalo ang profit na sana. Hindi marunong mag-gauge kung kelan kakamig at kung kelan lalaban. Madali lang naman kumuha ng profit at magtabi ng onti para ilaban. Sa bull run, profit ang importante bago ang magsugal pa lalo dahil any time may tendency na bumagsak ang presyo ng bitcoin. Mabuti nang mag regret na nagbenta agad kesa mag regret na hindi nagbenta. Mas madali matulog nang nakabenta ka kesa hindi ka nakabenta at all
213  Economy / Gambling discussion / Re: Get one btc right away or 5 btc with a bet? on: March 14, 2024, 10:12:19 AM
I'm a gambler but I'd get the 1 btc in this case. I won't even risk the chance at all. It may be 5 times more than what was being offered to me as free, but I could leave empty-handed if ever luck doesn't work out in my favor. Most gamblers would surely opt to take a chance at the 5 btc, but that's being greedy considering you could potentially gain 1 bitcoin without staking anything.

Take profits whenever you can, even if there is a potential of getting more than what is offered right in front of you. Besides, you are not sure what the outcome would be. Set aside greed and be happy with what's being offered for free.
214  Economy / Gambling discussion / Re: Can you stake on a potential(obvious) loosing team just for love? on: March 14, 2024, 08:00:19 AM
This is something I wouldn't do. My support for a team is very evident, but I will not let it get the best of me when it comes to rationality and financial decisions. I know hardcore team supporters who can blow thousands on their team even though they know that they will just be beat. They believe so much in make-believe scenarios that their team will somehow get together and achieve the win even though stats and analyses show that the odds are heavily stacked against said team. That support is commendable, but I would never do that.

I will, however, buy merchandise from my team if there is any, but you can't expect me to put in some money for bets if they're against a team that will defeat them.
215  Economy / Gambling discussion / Re: Do the juice Worth the squeeze? on: March 13, 2024, 10:45:33 PM
It highly depends on your risk appetite. There are people who squeeze the maximum amount of money they can on an event because they believe that it's worth it. There are also other people who settle for the safest plays and take profits wherever they can. I personally would get all the possible value I can on a bet no matter what, especially on games I'm highly confident on that will result to a win. I sometimes play for safe games, too, but getting the juice on an event you pretty much read everything about just rewards better.
216  Economy / Gambling discussion / Re: The Monte Carlo fallacy on: March 13, 2024, 10:50:58 AM
I was a victim of this fallacy before, and I guess when humans are faced with dire events, they will always devise something to help get their minds at ease. The Monte Carlo fallacy is no different to that, as it's just a way of the human brain to 'cope' with unfortunate events giving them a false glimmer of hope that everything will be fine. No wonder people are losing tons of money to gambling; they give in to these instincts and let these overwhelm them over reason and logic.
217  Bitcoin / Bitcoin Discussion / Re: I have known Bitcoin and other currencies since 2014 on: March 11, 2024, 08:06:25 AM
I know this forum late 2013 and joined early 2014, but never really started buying until late 2015. Like you, I believed in cryptocurrencies but never bothered to touch it because my fear of the risks outweighed logical thinking back then. I wasn't earning much before, and had my investments fail, I would have just wasted time and money. Nevertheless, I still followed my instincts and began putting in small amounts every time I receive my paycheck. It's never too late to invest in bitcoin. You can still create a sizeable portfolio through DCA. You don't have to buy coins outright if your wallet can't afford it, but you can buy little bits and pieces and it adds up eventually.

10 years is a long time to not do anything. Hopefully this time you get the initiative to do something about your positivity towards bitcoin and cryptocurrencies.
218  Economy / Gambling discussion / Re: Do you prefer betting your own predictions or from prediction site on: March 10, 2024, 10:59:45 PM
I prefer to move on my own, though I still check other pages from sports bettors and see their insights as to how they come up with their predictions. Once that's done, I compare it to my own rationale and make more analysis before I lock in on the bet. It makes you a well-rounded bettor if you also check the analysis of others and compared it to what you came up with. You might have missed a few details that other people have noticed, and it adds up to your knowledge on how to approach a bet.
219  Economy / Economics / Re: When luxury becomes a necessity. on: March 10, 2024, 10:40:11 PM
What might be luxury to you might only be a necessity to others. And as you say, you became more productive with that Macbook, therefore making it pay for itself in the long run if you are doing quality work that rewards you with good money. I'd say it is one of your expenses although at a somewhat higher price point. It only becomes luxury if it's something that you seldom use and only for vanity purposes. That Macbook serves you well, so it's not a luxury anymore to you.

I've never bought anything pretty expensive other than printers and computers that I need for my business. I never considered the latest printer a luxury but rather a business expense that helped me make more money in the long run.
220  Economy / Gambling discussion / Re: Do you have this practice of gambling during one's wake on: March 10, 2024, 08:55:07 PM
They say that the proceeds of the said gambling activity will go towards the family of the dead, so I try and play with other people even though I believe that such a venue is not appropriate for the said activity. I don't overdo it though. I never really stayed there gambling for hours. Perhaps just doing it out of respect to the dead is enough, or just to help them raise money and that's it. It's a weird tradition that legalizes even the illegal forms of gambling during a wake, but if it helps the family then I'm okay with it.
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