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2001  Economy / Gambling discussion / Re: Seriously! three times...the individual vs. combined probability. on: October 02, 2021, 12:54:05 PM
Odds are low, but not impossible. Would like to suppose you're being subjected to Gambler's Fallacy due to the fact that it sounded as if you assumed there is no chance that such a pattern will come out on your roll. Gambler's Fallacy happens when your heuristics and biases make you assume that there are patterns you can exploit in a game that would guarantee you wins.
Well the real question is: are you really going to argue with the mathematics of probability just because you saw/might have seen a pattern? Sounds dangerously close to the edge of hopeful thinking and superstition to me. Indeed math says that the probability of getting the same 1/37 for 4 times is less than a 50000th or if you prefer percentages: then about 0.002%. I think you should go with the math with this one.
Sad to say the human brain loves patterns, so it wouldn't be able to avoid pining on these things even if its life depended on it. It has helped us survive the deserts of Africa back when we are still hunter-gatherers, nowadays it serves to cost us a lot in situations where randomness is king. But with enough practice and self-discipline anyone could at least turn a blind eye on these flimsy patterns and help the gambler see the situation for what it really is.
2002  Economy / Gambling discussion / Re: Credit cards and gambling (tabcorp, Australia) on: October 02, 2021, 11:55:52 AM
So the worst-case scenario is a possible outlier case that only a small percentage of gamblers succumb into. That being said it's still something that should be looked upon and I think it is justified that banks are the ones who are supposed to impose restrictions on the gambler's behalf. Gambling addiction is just as bad as any other type of addiction out there and it's not something that could or should be downplayed no matter how absurd it may look or sound to you.
And if they know that there are abusing the credit card from the user, they can know because they will have a way to track the account and investigate. Even if the banks and the government prohibit using credit cards for gambling, the gambler will not have a problem because they will use the other way to continue gambling.
Yes, there will be no point in using credit cards for gambling the concept just doesn't add up to me. Governments want to crack down gambling itself so why then support a system i.e. banks that can provide credit cards to gamblers, possibly one of the most unreliable customers you could have.

In short, I find it problematic for both credit card providers as much as for the gamblers themselves due to their activities being ttracked as clear as day, which may even extend to affecting their credit card history.
There's no need for a ban but rather a more strict monitoring out of those credit card users which had really involved in gambling.Banks could able to do such thing and if there's banning then its clearly
theres mo reason behind that decision because they cant just impose any bans without any depth reason to do so.If they dont like gambling then they could ban it directly without attaching out
credit cards because we know that this isnt only the sole purpose on why credit cards exist on the first place.
Bank-issuing cards can just restrict gambling-related transactions. But you know, it will be easy for gambling sites to just ban it totally but since banks have different policies, it's now up for banks to do the job of banning credit card users. And not all do have credit cards that's why for me, it's not really alarming unless gambling sites have the record that most transactions on their platforms are with the use of credit cards.
  Responsible gambling is the key here basically. For me, people should have all rights to their money, even if it came from their credit cards, but the fact remains that money should be spent wisely, and moves like these which could prevent future jeopardies would be beneficial not only on the person gambling's behalf but would also be beneficial to the banking institution. So it doesn't really matter who bans credit card usage for gambling, as long as rules are imposed, it's all good.
2003  Bitcoin / Bitcoin Discussion / Re: Inequalities increased due to current cryptocurrencies on: September 26, 2021, 11:09:44 PM
In the first place, bitcoin wasn't made to earn profits. Satoshi made it clear that they created the coin to act as an effective replacement to the otherwise capitalist-driven and severely flawed currency system of the fiat. How we are profiting from investing in cryptocurrencies nowadays is but a miracle and a coincidence, but then again one can argue the dev(s) behind bitcoin may have this in mind already ever since the conception, but I digress.

Saw that you also talked about the waste that mining a single bitcoin would create, but you have to remember that ASICS are now pretty much rampant and accessible, not to mention that most large-scale bitcoin mining rigs out there uses efficient and cleaner ways to create electricity like biomass, solar-powered-devices, to name a few.
I don't think so, the gap between poor and the rich just got wider, and it's coincidental that cryptocurrency is booming so we tend to try and make sense of things and connect things that don't have any connection at all.
This has been going on even before the conception of bitcoin, if anything, bitcoin became the mediator between these two sectors as it allowed a good number of impoverished people to live a much more desirable life. Which they wouldn't be able to enjoy otherwise if not for bitcoin. With these things in mind, the discussion of whether we should demonize money and bitcoin altogether should be over.
2004  Bitcoin / Bitcoin Discussion / Re: UK customers can now buy Bitcoin through Paypal on: September 26, 2021, 10:49:40 PM
This goes to show that the road to global adoption is already underway. UK is undoubtedly one of the most powerful countries in the world and for the country to become part of the pioneer group that will rally the adoption of bitcoin through the rest of the planet is a good move from Paypal. Just hoping to hear more from this news because updates are really important especially at this crucial stage where people are dying to know more about bitcoin and how the adoption process will go through.
This is a good news for the US citizen. I always saw that there was many restrictions for US citizens to buy cryoto. Now, It will be easier for them to involve in crypto. Crypto market will see many new investors now.
UK citizens are the ones mentioned here if I'm not mistaken. Although there is some form of connection between the two countries, I wouldn't really interchange them since they have this sort of rivalry against each other. That being said the adoption wave could carry over to US soon enough if not already, and this would mean further good news for bitcoin and those who hope for its global adoption like us.
2005  Bitcoin / Bitcoin Discussion / Re: Mining vs Holding on: September 26, 2021, 10:25:23 PM
Investing wouldn't require you to fork in thousands of dollars in resources alone to earn considerable profit. The thing about mining is that it is only profitable when there are lesser people on the pool, and since millions of people are already mining nowadays, there is a good chance that your standard rig wouldn't be so profitable after all. Investing on the other hand doesn't require that much money, just a good enough capital for you to start you journey, from there the path is already laid in front of you, and you just need to make wise decisions to profit.
Mining VS Holding if I choose for now, then I will choose holding, with holding we can search for coins through a bounty campaign or airdrop so we can increase our profits.
For Mining at this time, I think there is still a chance to get multiple profits, it's just that equipment and maintenance costs money so that it will reduce mining income.
This is funny but it makes sense for the beginner investor to scour the vast expanse of the internet for paid promotions and bounty campaigns, however, keep in mind that you may also need to invest a couple of your hard-earned dollars as well because as of the moment salary for such jobs don't sound so great. That's what I did, and it had helped me develop more into the investing scene.
2006  Bitcoin / Bitcoin Discussion / Re: How Twitter can make impact in the BTC world? on: September 26, 2021, 10:16:46 PM
Aside from publicity stunts that the platform could provide, twitter had also made rounds last week stating that they will somehow integrate payments on twitter through bitcoin, not really so sure if the payments were for the "Spaces" feature that they are still working on to this day or for something else but this means that they are in support for bitcoin and cryptocurrencies in general. Just hope the toxicity of  the site doesn't seep in to the bitcoin community.
Twitter is successful social media platform it is reason many of people use twitter and many businessman's and influencer also use twitter for their deals. And influencer makes tweets and his followers follow there ideas and that's way twitter impact BTC world
Yeah but then again publicity could only get you so far when the rest of the world is already finding ways to integrate bitcoin technology to their system and their features. Twitter had caught wind of this and is making particular efforts in ensuring that they do not get behind in the race against relevance. One of which is what I mentioned above, stating that they are planning to integrate bitcoin payments in their site.
2007  Economy / Speculation / Re: New (old) FUD coming from China? on: September 26, 2021, 10:05:12 PM
I think there will still be price dumps because of the fact that China still has some standing in the economic sector, so that almost means that their words should never be taken for granted. That being said, I wouldn't be too scared of these news because it has been long stated that China is a great enemy of bitcoin and cryptocurrencies, basically hinting at their banning of cryptocurrency activities as early as 2018. So this would not surprise the veteran investors.
I understand that there is a good chance we may end up with something that would be incredibly shocking if they didn't bring in some FUD from China. After all they have been doing this for years and they hate crypto and we know this already.

Just because they came up with another different way to FUD it doesn't mean that it would be a brand new thing, it is basically just rebranded FUD that they always had so it is nothing that is too shocking for anyone. I personally believe that nothing has changed, we are at exactly where we were a week ago and all those people who got scared from this news must be new because this means nothing at all.
Exactly. it doesn't make sense for the seasoned investor to be afraid of any FUD that comes from China, be it true or not. Most probably the ones who were vocal about their fear of Chinese FUD were at least new to the scene, since it would make sense for them to feel like this is a big threat when in reality people are already so used to China hating on bitcoin that we just shrug them off.
2008  Economy / Economics / Re: Pakistan's Economy are going to crisis for Taliban? on: September 26, 2021, 09:47:25 PM
The terrorist issue spells doom for Afghanistan and Economic doom for its neighboring states. The constant deterioration of the economy of Pakistan, as shown in the post OP made painted a big picture of why terrorism is a very serious crime to commit, not only do they jeopardize a singular country but for situations and countries like Afghanistan that is landlocked, the cancer could spread to its neighbors, bringing them down the mire as well.
This isn't happening now, the situation is getting worsen long back itself. Along with this the pandemic made a bigger blow over the entire economic situation. The impact of Taliban will make the economy shrunk. Last year Saudi Arabia government demanded back $3bn loan repayment to be settled within specific time period. There is political play, still this action might've been taken understanding the situation of Pakistan. This way the economy has begun to collapse long back, Taliban's are part of it.
That would make sense. Not to downplay the effects of a terrorist scheme could commit but then again it's still puzzling to think that Taliban alone is enough to bring down the economy of multiple countries. and surprise-surprise, there had been political issues as well that are hidden in plain-sight but is overlooked because Talibans pose a much more serious threat at the moment.
2009  Economy / Economics / Re: How to protect from inflation? on: September 26, 2021, 09:34:51 PM
Bitcoin offers much higher profitability with the same amount of risk as the NASDAQ 100 and the likes. To some this automatically means bitcoin is the superior anti-inflation agent that everyone should use. But then again I would suggest you only invest on assets that you are most comfortable about because no matter what happens, bitcoin is still susceptible to losses. Just because it's rainbows and butterflies right now doesn't mean it will stay like that forever.
We all know very well that from that list Bitcoin is like the best option we have there. Then apart from Bitcoin I think gold is the next thing that is good there. Other ones are good as well, but what I don’t like about them is that what you’re getting in return isn’t that much compared to what you’re going to get when you are investing in Bitcoin and other cryptocurrency or gold at least.

I’ve done most of these and at the end of the year you will be wondering what’s the need of investment? It’s just like when I used to invest in bonds, at the end of the year the profit that I make is always too small that I usually don’t see the need for me to start investing the next year. But, with Bitcoin I always see a reason to invest even more than what I invested the previous year, because the investment is usually worth it, although there are risk involved.
I wouldn't say "best" but in turn I would say it's a much more profitable option that anyone with prior knowledge could take and include in their portfolios. The profitability is there, the risk is as high as investing in the NASDAQ 100, or at least that's how I like to think about it, and there are multiple paths for future use-cases, so the relevance will never die off. All-in-all bitcoin is a good asset that everyone should at least hear about.
2010  Economy / Economics / Re: Visa reportedly aims to integrate Bitcoin payments in Brazil on: September 26, 2021, 09:25:08 PM
It seems that larger banking institutions that discover the harsh truth of bitcoin always being superior to fiat made Visa cower and give in. Well honestly this is a good move not only for the people who invest in cryptocurrencies but for banking institutions as well. This could give them an avenue to earn more money basically but something that wouldn't allow them to exploit the common people, which is of course bitcoin.
Brazilians already have a culture of receiving card points, miles, discounts. And accept cryptocurrency with their credit card too.
Visa is no stranger to making headlines in the cryptocurrency space. In an attempt to portray its pioneering status as an intermediary for traditional and modern financial culture, Visa last month purchased its CryptoPunk NFT avatar for 50 ETH ($150,000 at the time of sale).
So basically what's happening right here is the fact that they are hoping to create a difference in the banking world by being one of the institutions who are much more friendly towards cryptocurrencies, compared to their peers who interact with bitcoin and cryptocurrencies with tooth-and-nail. As you have mentioned, the fact that Brazil has a history of alternative modes of payment, this will work well in their favor altogether.
2011  Economy / Economics / Re: China Is making Fuds Since 2017, But BTC Always Gone higher on: September 26, 2021, 09:15:27 PM
Goes to show that China hasn't and will never be the answer to decentralization as much as the hopefuls from the crowd and the government pray it out. There's just so many options with cryptocurrencies, especially bitcoin, that people will be willing to bounce back on a much more favorable ground and eventually enjoy the payoffs. People are quick to figure out as well that China will not say anything good about bitcoin and cryptocurrencies, so most of us just shrug news from China nowadays, effectively making it so that China has no real power over the market anymore.
Don't forget, we are human, we are bound to learn.
Once we learn that they are doing this on purpose we tend to adapt to it. There will be times we won't believe anything they would say anymore.
They may have the upper hand now to control the market because of being one of the countries that are growing but once Bitcoin is divided into a lot of users there won't be telling where the price would go.
This is exactly what I have in mind. A lot of us have been surprised to find out that these next few years, there hasn't been any major effects on bitcoin's price that is directly tied to FUD coming from China, when we just had learned not to give a damn about China basically.  The same will happen for every other FUD out there that the detractors will commit, we'll learn to shrug it off and move on to a much more beneficial discourse.
2012  Economy / Economics / Re: Money and wealth as the major religions in world. on: September 26, 2021, 05:26:17 PM
I don't know about that. People will definitely love the concept of money and being rich but to compare it with a full-scale religion like Islam and Christianity with doctrines that every follower abides. Money and Wealth do have people coming after them but what are the bounds for these people to follow, what is the payoff? Money had become so embedded into everyone's lives and to have people chasing after it is understandable. We can't really blame them when retaliation means starvation.
I don't think so. Religion represents a belief, and money is just a pursuit in people's lives. I think you must have never been to Mecca. I am not a Muslim, but I was shocked when I saw thousands of Muslims praying in Mecca. No matter what their status is, whether they are rich or not, everyone prays to their God equally. This is religion. And money is only the most basic pursuit of mankind, far from being worthy of being compared with religion.
Agree. There's no belief system in money and wealth. The thing is that people demonize wanting money so much but if you come to think of it, wanting more money makes sense. Living in a world like this that is overrun by the rich and the lack of money means starvation, if not death, you have no choice but to chase after money altogether. People should snap out of this stupid hatred against money because it is illogical, no matter how much they say "money can't buy happiness"
2013  Bitcoin / Bitcoin Discussion / Re: China Bitcoin Ban false alarm on: September 26, 2021, 01:36:24 PM
The news will still have effects (probably) because we have to admit, China has a standing in the economic sector compared to other countries. But it wouldn't be that impacting as people are starting to get weary of the shenanigans China has been committing against cryptocurrency ever since 2018 came. There will come a time when people will just shrug news coming from China knowing that there's nothing good that's gonna come out of their country.
https://www.reuters.com/world/china/china-central-bank-vows-crackdown-cryptocurrency-trading-2021-09-24/

According to Reuters, this time is not a false alarm as it seems. China really has banned cryptocurrencies completely. There have been so many claims that they did this before so far but they all turned out to be wrong. But now, we see that it has really happened. But this should not be very surprising for investors because they should already be aware of China's being completely against this market.
Exactly, just like how the story of the boy who cried wolf went, people will start to get used to this negative news coming from China, if they haven't got used to it already. Most investors that have been in the cryptocurrency scene ever since 2018 have already known about this and had diverted their energy to something that will help the cryptocurrency community instead of focusing on the negative that is the Chinese Government.
2014  Bitcoin / Bitcoin Discussion / Re: My Challenge with small investment in bitcoin on: September 26, 2021, 10:45:26 AM
Back when I was still a guy working his 9-5 I used to do a financing technique I saw on the internet called 50-40-10. Every salary, I would save 50% of it no matter how big or small and then invest 10% of it through my assets. The 40% I use for my daily finances and that usually got me through the month without issues. I understand that some people may not be able to do the same technique I did so I would suggest you do your own budgeting and if you really want to invest, setup a plan that would allow you to do so, because there's no way investing will adjust for you.
Best of luck. The "can't buy a whole coin" excuse is nonsense in the first place.

1. You don't need one full bitcoin, like you don't need one full gold bar.
2. You don't need to buy one full bitcoin in one go, you can get there slowly by dollar-cost averaging (like what you're doing right now)
Not gonna lie this was my excuse before I made my mind up and adjusted to whatever led me to this point. I wouldn't downplay the effects and burdens that poverty will incur you, but it really helps to adjust and not let your circumstances take control of your life because if you allow it to happen, it would happen. The choice is always up to you. These mindsets had allowed me to at least live alright for myself, and if you find a way for you to be able to invest or save money as well, I would guarantee you that it is worth all the trouble.
2015  Bitcoin / Bitcoin Discussion / Re: Dollar supporters destroy Bitcoin ATM in El Salvador on: September 26, 2021, 09:15:19 AM
I don't see the big issue as to why they are doing this. There's no news circulating around, or at least none that I know of, of El Salvador's bitcoin adoption process inconveniencing people in the process. Like are there people who lost their job because of this? Or at they simply doing this out of spite and in support for their measly dollars?
Times like these really brings me back to that one quote Ezio from Assassin's Creed left us with. "They condemn what they do not understand".

On the day celebrating El Salvador's bicentennial of independence from Spanish rule, protesters set fire to a Bitcoin ATM in the capital, San Salvador. Currently the government provides 200 Bitcoin ATM machines.
Protesters in the capital's central square held high placards denouncing dictatorships and the words "respect the constitution and no Bitcoin"
El Salvador's President Nayib Bukele condemned the protests and said: in a televised ceremony he said the protesters were being financed by the international community.
This should be the case. Although personally, I wouldn't just sanction them with incarceration or fines but would also rollout information campaigns about bitcoin so the people would understand how it really works. Because these people just hate on bitcoin due to the fact that they have no idea what it is or how it works. "Respect the constitution" is already a dead giveaway to that
2016  Bitcoin / Bitcoin Discussion / Re: feel like never wanting to use crypto again on: September 25, 2021, 04:18:39 AM
I can understand why you would feel down about the current situation of the market because a majority of us do too. But the thing is, most of us are aware that stuff like this happens almost every day. There's no way that you would expect bitcoin and cryptocurrencies to always be on the top of the charts because the market doesn't work that way. This is a common misconception that beginners face and I do hope you come into a good and sound decision after you've thought things through.
Although the post is confusing. What is evident is that OP has lost money in cryptocurrencies. I could only tell him not to be discouraged and analyze how things happened and that also if it is his wish, he can try again.

There are many ways to stay safe by making a good investment. Although if you do not risk you do not win, it is also convenient to take into consideration certain conditions that do not commit all your money.

I wish that this difficult stage is overcome and that we have you back.
I don't want to give OP the false hope that things will get better ASAP because things aren't gonna happen that way. We have to input some sort of realism especially when it comes to money and investment. OP should've been aware or at least made aware that investing comes with its upsides and drawbacks, both of which he should be aware and prepared for.
2017  Bitcoin / Bitcoin Discussion / Re: Ransomware and Bitcoin on: September 25, 2021, 03:59:12 AM
To be honest it's much easier tracking these attackers down and apprehending them than banning cryptocurrencies in general. Just another way for the government to mask its ulterior motives of protecting fiat's standing in the economy. Although just like the other moves they did in the past, this will also be in vain. The amount of people who know what bitcoin and cryptocurrencies are capable of is nothing to laugh about, the government should be aware of that.
No, they can't stop the hackers to keep going with ransomware. Even if they ban bitcoin and et. al, these hackers will still attack those vulnerable people and then no one will stop them from asking crypto from their victims. They should track down these hackers.
What a brilliant idea, giving sanction to crypto and banning bitcoin, who are they against with? nobody can stop the usage of these and they should stop the hackers instead.
True. What they are trying to do is barking at the wrong tree basically. Thinking that it's bitcoin that's causing the ransomware and hacking attacks when it's can never be closer to the truth. Feasibility researches should be made before proposing bills like this because it's just stupid to think to hear that the people we entrusted our taxes with think like this.
2018  Economy / Gambling discussion / Re: To what extent can sport be strengthened with cryptocurrencies on: September 25, 2021, 03:43:27 AM
As of now the best ways cryptocurrencies assist in strengthening the integrity and longevity of sports is through sponsorships and salary/compensations. That being said there is a good chance that more opportunities can be made with partnering sports and crypto aside from the ones I mentioned above. With the integration of the blockchain technology in sports systems, among others, there is a lot of possibilities to be made.
for now it may be growing because more and more people are using it besides that there is an American Football athlete, namely Russell Okung who converts his salary into bitcoin.
even according to the Foxes Business page, Russell Okung's assets were around $6.5 million in December 2020. Now, that figure could be around $8.95 million or about 233 bitcoins.
apart from that now a lot of coins for sports fans, Ziliqa and NFT in big football clubs.

and most importantly crypto gambling sponsorship sponsorship is now rampant among football clubs.
maybe in the future there will be more things like this.
Basically just partnerships, sponsorships, and payments/compensations. Endorsements could also work well as in the case with Israel Adesanya, but then again these are all temporary movements that will not really strengthen the integrity of sports and cryptocurrencies altogether. This could change in the future as I said earlier, but until then, we would have no choice but to settle with these.
2019  Economy / Gambling discussion / Re: G A M B L E R S ❗❗ What are your thoughts on this? on: September 25, 2021, 03:10:25 AM
You would be surprised to find out how reliable luck can be in some situations. But definitely not when it comes to gambling. So in that case, I'll choose situation B since it offers me a much bigger chance at winning albeit the grounds for such victory comes in the form of defeating other real people. This could still work because my chances at winning is directly proportional to the amount of skill I have over my enemies'. I just had to be the best guy in the room and I will be winning, with option A no matter how much skill you have if the house decides to one-up on you, you have no choice.
I'll choose the B.
With that amount, you can burn that so quick if you're playing those games indicated in A. And when you keep on going, I guess within less than an hour if you're unlucky, you're about to stop because you've got nothing left anymore. While in B, if it's competitive, you're encouraging yourself to win and be meticulous with every decision you play per bet.
That is true. We're betting on the longevity of the $100 initial bet that you have been given, so there's a good chance that even if you start with low base bets, you'd still pretty much dry your funds up in no time which is not a good thing. Option B gives you more bang for your buck and extends your money's longevity, since you'll be competing against other people and the results are entirely up to your skill compared to theirs.
2020  Economy / Gambling discussion / Re: GAMBLING: Skill-based vs. Chance-based on: September 25, 2021, 02:22:49 AM
Maybe luck-based games aren't just OP's cup of tea but for a majority of gamblers out there, luck-based games have a special place in their hearts and their gambling budget. Most gamblers that I know of spend a portion of their gambling budget in the slots or dice games to relieve them of the tension that the outside world, and sometimes even skill-based games gives its players. I myself enjoy playing slot machines even when I rarely win just because.
If they are not disciplined enough to limit the funds, then they probably end with huge losses.


This is the reality, some of us do not see the risk in gambling and that made up being irresponsible gambling which is willing to risk everything instead of gambling only what we can afford to lose. Yes, they lose a lot of money and most of them learn it a hard way, and for me, I think it's better than ending up in the street because we lose our job and home because of gambling.
The biggest misconception that people have over gambling is that it's a surefire way of earning money or worse even getting out of poverty for a minority who spends a portion of their salary for lottery games. Thing is that this is nowhere closer to the truth because if you account for probability and statistics, you have a higher chance of getting hit by lightning than winning the jackpot at Powerball or any lottery for that matter. Only gamble what you can afford, and only gamble for fun, that's the way to not lose your money, and your sanity over gambling.
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