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2081  Economy / Gambling discussion / Re: Gambling Myths that we often hear on: August 09, 2022, 08:20:49 PM
Quote
Myth 1: Gambling Isn’t Addictive
>> Fact: Gambling is designed to be addictive.

Myth 2: Gambling Is a Way to Make Money
>> Fact: The house always wins, especially when it comes to compulsive gamblers.

Myth 3: If You Keep Playing, You Will Eventually Win Your Money Back.
>> Fact: The longer someone remains in active gambling addiction, the greater the losses.

Myth 4: If You Can Afford It, Compulsive Gambling Isn’t Really a Problem.
>> Fact: Compulsive gambling is a symptom of underlying emotional and coping problems.

Myth 5: Compulsive Gamblers Play Every Day
>> Fact: Gambling addiction can be continuous or episodic.

Myth 6: Knowing a Game Well Increases Your Odds of Winning
>> Fact: Gambling games are designed to not have any aspect that will increase the odds of winning purely out of knowledge or skill.

Myth 7: There Are “Hot” and “Cold” Slot Machines
>> Fact: Slot machines are programmed to promote problematic play and win for the house.

Myth 8: Gambling Is Only a Financial Problem
>> Fact: Gambling addiction causes problems that extend well beyond financial losses.

Myth 9: All Gamblers Engage in Criminal Behavior
>> Fact: Gamblers who seek and accept help can recover before they have to resort to criminal activity to finance their gambling.

Myth 10: Teens Don’t Gamble, Only Older People Gamble
>> Fact: Gambling is a bigger problem among teens than it is in adults.

Myth 11: Feeling Lucky Means You’re Going to Win
>> Fact: Distorted beliefs about luck are a key mechanism in developing gambling addiction.

Myth 12: Problem Gambling Can’t Be Treated
>> Fact: Any person with a gambling addiction is capable of full and lasting recovery with the right help and the willingness to accept that help.
from....

because I read this and this topic, I am very curious about what actually influences many people to play gambling and an interesting fact is that people start gambling because of the words (myths) that are often said by their friends or family...

I agree with the research above because it was my first time playing gambling because of an invitation from my friend who said "gambling is a way to make money". now the days have passed and until now I still gamble but with controlled portions.

I'm a little curious, are there any mythical sentences above that make you all start gambling and can't stop gambling or even because the sentence above makes you a gambling addict or even stop gambling?

I think a lot of these are busted myths are very dependent on individual personalities and the state of mind that someone is in when they're playing. If someone is in a strong financial position and fully aware of the substantial odds against them, they are less likely to get hooked than someone who is a bit worse at math or in an unstable environment with low earnings. I think one prominent myth that is missing is the rather dangerous so-called strategies that people come up with, namely Martingdale, which only works if you have unlimited money (much higher than the casino) to keep doubling up until infinity when you statistically will be bound to win eventually - in reality you'll go bust long before the house ever does which is the inherent flaw in something that sounds so quaint.
2082  Economy / Economics / Re: Recression is here to stay on: August 09, 2022, 05:45:31 PM
Yes recrsssion is here to stay
Thts good.the prices will drop down so inflation dont hurt PEOPLE so much.
Recression is new normal

It seems like you know little about economics even though you make proclamations so confidently. Boom and bust is an economic cycle that has been around ever since free market capitalism existed, probably a long time before. People get happy, borrow a lot, spend a lot and then realize they have to pay it back which requires tightening spending a lot. Many politicians and central bankers have tried, then failed, to break this cycle over time but it seems as reliable as the sunrise each morning or the movement of the tides.
2083  Other / Archival / Re: Entrepreneurship or Office job? on: August 08, 2022, 08:29:21 PM
The struggle between the decision of being your own boss and working under someone is becoming more difficult to make as economic situations become tougher. From evaluation around me, self proclaimed entrepreneurs are quitting entrepreneurship because of difficulty in maintaining a business and reduced sales due to reduced purchasing power from people, an effect of the economic situation. Office workers on the other hand who also have been on one salary grade for a long time now are becoming fed up with how their monthly salary is no longer sufficient to secure a comfortable lifestyle for a month also due to the higher cost of living. What do you think is the way forward?



For many people, most people infact, it is not always an option to become an entrepreneur because sometimes a full time job can take up most of your available time along with commuting. Many entrepreneurs start young and have the ability to withstand multiple failures as they learn what works for them, but it really helps to have a supportive environment growing up. It can be much easier to start if you have family who might give you a little bit of seed money, you have free time and you have the resources (even just access to internet) that many people take for granted in more developed countries. Some youngsters in different countries are already doing different types of work by the age of 10 or even earlier, to help the family survive.
2084  Economy / Gambling discussion / Re: To build your Professionalism on casino on: August 08, 2022, 08:05:18 PM
A person needs to think deeply about a few things before starting gambling in online. Adherence to these principles a gambler have more chances of getting success in gambling platform which can make a gambler responsible from the start.

Things to obey:

1. A gambler should gambling as an entertainment, not as a way to make money or the earning source of money.

2. Don't try to bet with your everyday life leading money which is very much needed or can't afford to lose  like billing, rent, food or something like that.

3. You should Understand the potential of the game, embrace it wisely and predict your chances of winning at that particular game.

4. It is more important to read the terms and conditions carefully other wise everything will be invalid.

5. No betting on YouTube reviews or anyone's advice. Prepare yourself to understand the advantage or disadvantage.

6. If you lose your assets then don’t pursue the losses.

I think your success in gambling will definitely visible if you follow the these instructions. Here  you can add your knowledge and experience for the flourishing to this concern.

A lot of your points disagree with the very idea of "professionalism", if you're only there for entertainment then you don't need to be professional about it - just have fun. Odds are you'll leave empty handed, so stick to a relatively small and affordable budget, in an extremely rare circumstance you might strike it big. If you're playing at a casino, chances are most of the games have predetermined outcomes based on the level of spending they see within your account, if you're losing thousands per day then it's possible they will throw you a more frequent thousand or even ten thousand win, because they know the psychology that means you will give it all back to them.
2085  Economy / Economics / Re: ECB - Towards the holy grail of cross-border payments on: August 08, 2022, 07:47:32 PM
This 1st of August some ECB authors published this paper: https://blackhatcoiner.com/ecb.pdf (paper from the official site, but it denies access from Tor)

I said the authors and not the actual chairmen of ECB, because:
Quote
Disclaimer: This paper should not be reported as representing the views of the European Central Bank
(ECB). The views expressed are those of the authors and do not necessarily reflect those of the ECB

Comments:

Quote
5. Unbacked crypto-assets such as Bitcoin
Isn't it annoying to read this term? Implying that it isn't backed by anything makes it sound like a non-licensed liability, hereby a scam. Since when do we use the term "unbacked" for assets?

Quote
Even if additional payment layers like the Lightning Network attenuate speed and capacity issues in the sphere of micro-payments, this does not change the fact that these solutions also rely on the Bitcoin blockchain as an eventual settlement layer, which remains a wasteful system
Quote
The underlying technology (and in particular its “proof-of-work” layer) is inherently expensive and wasteful.
If the energy is used to secure the network, it isn't being wasted. How many times do we have to debunk this weak argument? Granted, centralized solutions are more efficient, but they don't provide the same benefits. Period. Plus, bitcoin mining can be used to save up costs of wasted energy.

Quote
Also, a number of other crypto assets (like Ethereum)
Ugh. Ethereum, "the crypto asset". This opens up a big discussion, but I wouldn't call asset a completely centralized decision-wise digital currency whose monetary policy is yet unknown, with 70% of the current cap being pre-mined. Rather a unit of a feudal system.

It'll make sense if, in the not far future, CBDC's will be backed by digital asset, that is bitcoin.

Unbacked is a fair assessment really and is open to a small bit of interpretation of the reader, it's unlikely that any sort of wording would be totally satisfactory to all people. I read unbacked as in, it has no central banking authority that is able to guide it's future (unless you talk about the developers in this manner) and it doesn't have the economy of any country to fall back on to assess a true productive value behind it like standard fiat currencies. That can also be seen in a good light, not necessarily negative, because a decentralized currency is supported by citizens of all countries and you might argue is the first truly globalized independent currency in existence.
2086  Economy / Gambling discussion / Re: Do Online Gambling Streamers Ever Get Addicted to Gambling? on: August 07, 2022, 04:17:20 PM
I have heard about online streamers and how they spend hours at their computer screen gambling and winning huge amounts of money. It looks fun because they get to earn money doing something they love. Positive feelings are generated when they gamble. Moreso, these gambling streamers also get a lot of views too. For example this this user - Coin_traderalready collated some data on how much viewers are interested in gambling streams compared to typical online games streams. However, with the little knowledge I have about the role that biological factors like dopamine and serotonin dysfunctions playing in fostering addiction1, I can't help but wonder if online gambling streamers ever get addicted to gambling. What do you think? And can the viewers who watch these streams tell if the streamer is addicted to gambling by observing some physical symptoms such as pale skin, weight gain/loss, acne and dark circles under the eyes?2

References
1. https://www.gatewayfoundation.org/addiction-blog/is-gambling-hereditary/
2. https://www.algamus.org/blog/signs-and-symptoms-of-gambling-withdrawal

These days it's almost impossible to tell who is genuine when they're streaming content, because there is so much underhanded and subversive advertising going. Essentially you'll find there are going to be three groups of people doing this online gambling streaming: people who don't know any better, who might be rich enough to sustain their habit for a while but they'll eventually burn out, people who are getting paid by gambling companies (either through their account being funded or favorable betting algorithms switched on for their account) and a relatively few truly skilled players who are doing this like poker where they have acquired enough skill to grind a profit. If you can figure out someone from the last group then it might be worth a watch, but the other two are pretty sad cases.
2087  Economy / Economics / Re: Sanction isn't the right option on: August 07, 2022, 08:43:39 AM
It is true that economic sanctions may break the backs of many countries. The country will become poor, maybe try to be self-sufficient, if it can, it will be able to survive, but it will not be able to shout at all. However, these theories may apply to Venezuela, Iran, and North Korea. But what happens when you try to play this kind of game with superpowers?

The greatest lesson of history is that no one learns from history. The same thing that is being done with Russia today is being done with Germany. Following Germany's defeat in World War I, Germany was burdened with a huge debt burden of about 269 billion gold coins. In terms of money, it is equivalent to 1 lakh tons of gold. The sole purpose of imposing this huge debt was that France and Britain wanted Germany to break the economic deadlock and not even think of war for the next hundred years. A master plan to subdue Germany without a war.

The problem is, only the weak die in the rice without hitting the hand. If you want to kill someone who has a sword in his hand, he will snatch the rice from you.

This humiliating chapter of the Treaty of Versailles provoked widespread outrage inside Germany. The Allies were to blame for Germany's economic woes at the time, and the people were agitating. When Hit-Lar finally came to power, he completely refused to repay the loan.

This debt burden and all the degrading chapters of the 1st Treaty of Versailles led to the rise of extremism in Germany. By capitalizing on which, the national hero becomes a hit-and-run offensive. Those who pushed for the treaty rather than cripple Germany seemed to invite more rather than avoid war through the treaty. Everyone knows the history of violence in the rest of Europe.

The context is not exactly the same, but how realistic is it if the West thinks that Russia will continue to weaken the economy by quietly imposing sanctions on this huge military power? It is possible to put pressure on Russia on various issues if we have economic relations. But when Russia is left completely helpless, will they apologize to the West as helpless? It is difficult to believe that Russia will do that with such a huge military force. When the Russians turn from angry to extremist against the West over Russia's problems, there may be a repeat of what happened in Germany. Which will devastate Europe.

They concede that the attempt to economically cripple Germany at the end of World War I was suicidal, which is why German leaders were tried after World War II but no attempt was made to harm the German nation. But they want to do the same thing with Russia again. It remains to be seen whether the outcome will be the same again or not.

You contradict your own headline in the very first sentence that you posted in the thread. Sanctions do not work in the short term, but medium and long term Russia is already facing a severe economic shock to come. It's last major export is gas and oil, yet it has shown that it is a very unreliable partner when it comes to energy exports so that source of revenue will dry up. It has substantial currency reserves, but it is also funding a very expensive war right now and once it burns through all the cash it will have very little economic production. Unfortunately Putin has chosen the way of the madman, Europe was at relative peace for many decades and it is the average Russia who will suffer the consequences while he sits around in his lavish palaces throughout retirement and hundreds of thousands of people spill blood for no reason.
2088  Economy / Gambling discussion / Re: Online poker rounds on: August 07, 2022, 08:25:55 AM
Even though I have been around the gambling arena for a while now, I still can't differentiate between an ordinary poker player and a tournament poker player even though I know there are differences between both of them and what makes the difference between online crypto poker and physical poker rounds.

You cannot distinguish between the two types of game, or the strategies that these players will use? An "ordinary" poker player would I guess play cash games, including no limit, where it's easy to gain money fast but you also have the ability to lose your bankroll faster as well. Tournament players can win bigger amounts can win much bigger amounts but the best prizes are really reserved for the top 1-3 spots, all other prizes can really vary and may barely be an improvement on your buy-in amount. Depending on the size of the tournament, they can take very long times to complete and you definitely need to determine whether it is worth your time unless you're consistently getting in the top few players.
2089  Economy / Economics / Re: Cryptocurrency an Alternative in Resisting Economy Hardship on: August 07, 2022, 07:21:21 AM
Cryptocurrency an Alternative in Resisting Economy Hardship, Nigeria in Africa as a Case Study.

Some months back earlier this year, the word "bitcoin" became the most globally search word on the internet while research also shows that Nigerians have the highest search for bitcoin on Google on another note, it has been said to be the country with the highest bid of Nigerians interested in cryptocurrency on a global scale and yet amidst the restrictions from its government against participating in cryptocurrency related affairs from users of commercial banks and the financial institutions in general, also in 2018 the country Nigeria was rated third in place for bitcoin holders in the world

source

We could see from above table how the country has venture into a number of cryptocurrencies with bitcoin being the highest and altcoin solana which is experiencing difficulty as at the moment from it users coins been hacked from hot wallets, despite the whole conditions of users all over the African countries, bitcoin adoption has increase with a vast numbers of trading rate compare to other cryptocurrencies which the statistics from Sango below explained.


From the above statistics, we could see how the reflection of cryptocurrency participation in the coast of Africa led to sporadic adoption of bitcoin and how it has been use to evade the impact of economy hardship the people could have suffered from the use of fiat backing up with inflation all over, it's of no doubt that cryptocurrency had come in providing the audacity to decentralized economy system in dealing with financial circumstance, the economy in  cryptocurrency activities is fast increasing in Africa (Nigeria) and Middle East according to source: https://agadir-group.com/nigeria-the-uae-are-the-most-cryptocurrency-obsessed-markets/

Areas of Economic Benefits in Cryptocurrency

Financial security
Employment opportunities
Indepency with decentralized network
Secured and reliable digital investment opportunity
Solution to hardship from transaction charges
Running a balanced economy free from inflation
Reduction in poverty rate while increasing GDP
Intercontinental collaboration, friendship and partnership
 

The two graphics you presented, while very interesting, have absolutely zero to do with the premise of the thread which is "resisting economy hardship". Bitcoin and all other altcoins are just a method of exchange. They do not magically make your life easy or provide you with a free source of money that can sustain your day to day living. All of the supposed economic benefits are equally applicable towards any currency, they are certainly not unique to cryptocurrency. While it may have some useful purposes in places like Africa, where the banking system is perhaps a bit fragmented and can be hard to access, let's not pretend it is going to bring people a revenue source out of nowhere.
2090  Economy / Gambling discussion / Re: Looking for best casino on: August 07, 2022, 06:21:07 AM
Hello forum member,
I actually new in Cryptocurrency gambling. I made a few bet on sport's by fiat on 1xbet I'm also seeing scam accusation against 1xbit there is a similarity on there name I wanna know are they connect ?
I also wanna know the which Cryptocurrency based casino is best for me ? Because I saw lots of casino here .

They are connected, I don't know why you would pick such a rubbish name and one that is already associated with lots of sketchy behavior if they were not connected - it's terrible business logic. As for which casino you should use, there are dozens if not hundreds advertised here among the various threads. Stick with the ones which have the most pages, read through the last few pages to make sure there is nothing suspicious going on with them currently and try to look out for any engagement from the staff behind it - as that is a good sign that they want to connect with their customers instead of hiding away. It's heavily dependent on what you want to get out of a casino so hard to give a judgement on which is the best, try 2-3 yourself to find out the differences and maybe even take advantage of any signup bonuses.
2091  Bitcoin / Bitcoin Discussion / Re: Portuguese Banks Stop the use of Cryptos (Bitcoin) on: August 06, 2022, 11:43:56 AM
On the 5th of August, 2022, bitcoin news. Portuguese Banks Stop using crypto (bitcoin) for exchange in the their local banks. That is the users of bitcoin or the bitcoiners can buy and sell bitcoin and othe crypto currencies in the country. But even though the bitcoiners can not use and exchange bitcoin in the country, they can go to a near by country to do the exchange but it will still affect them in their own country unless they permanently stay in the country. https://news.bitcoin.com/portuguese-banks-close-accounts-of-crypto-exchanges-media-reveals

At present it seems to only be affecting the bank accounts of companies tied into crypto exchanges. It is bad for the Portuguese economy because those customers will just buy online from other European countries. It's good there is no restriction currently on the customer level, but it's a bad omen for this to happen out of the blue. There must be some government level pressure and this could be a signal of further banning in future. Let's hope all existing customer crypto is safe.
2092  Economy / Gambling / Re: A New Era for Betting - (After Corona Circumstances) on: August 06, 2022, 09:25:58 AM
After the global epidemic that started in 2019, there were problems not only in football but also in all sports branches. However, sports branches that appealed to the audience live, such as football, were more affected.

Even if normalization begins towards the end of last season, we are getting ready to enter a season that we can call normal.

In this process, especially for football, I think that the big teams lose more power in general. Because supporter support is one of the most important criteria. This season, we will have a more normal season and I think we can watch better matches. Of course, we may also be entering a more enjoyable period for betting.

It was crazy to see stadiums with 50,000+ thousand seats completely empty during Covid and that would have had a massive impact on the revenues for the club's - I doubt the poor footballers were taking a pay cut during that time though. Everything does seem to be back to normal now for most countries which is nice, and there does seem to still be a push for keeping space between people and staff in some circumstances still wearing masks. The only exception is zero Covid China which still seems quite backwards, luckily they contribute little in terms of international sporting events.
2093  Economy / Economics / Re: Can the US become EU's oil supplier?? on: August 06, 2022, 07:05:15 AM
  With all the ruckus surrounding America right now; their part in the Taiwan issue and also their less than secret partnership with the Ukrainians, I think it's safe to say that Biden has a lot on his plate. But how about we add more??
 We've had the issue of the Russians retaliating against all the sanctions imposed on them by threatening- if I can be allowed to use that word- to cut off supply of crude to the EU and the body deciding to reduce it's use and dependence on their oil. This sounds achievable, right? Fine..
 Over the years, the US have been known to have amassed a lot of crude oil and gas to last generations! US oil purchase history

 And Russia has earned almost a $100bn just from sales to the EU. Correct me if I'm wrong, but I think it's from such means they are being able to foster the war, so if the US can block this means and become the only supplier to the EU, it could cause a big deal between the US and Russia. But the question there will be; can they risk it?

Unless we figure out a way to get a pipeline from America to Europe, which seems like a rather impossible undertaking to do safely, then it will never be able to replace the sheer convenience of Russian oil. It means that any oil or gas that is coming from America has to be shipped via boat and it can only hold a fraction of the capacity. It seems like taking oil and gas from Africa via pipelines, or even trying to figure out a pipeline through to producers in the middle east would be the next best option. For now it seems like Europe has to settle on a lot more shipping and it seems best to try to convert everything over to renewable energy as quick as possible.
2094  Economy / Gambling discussion / Re: Man Collapses after Allegedly Losing a $400 Loan at a Betting Shop on: August 05, 2022, 06:43:38 PM
According to the story, a man collapsed after he lost $400(the equivalent 200k in my local currency) loan at a betting shop called Bet9ja. This money was borrowed from loan shark operators for pay for his house rent however. The man thought that he may be able to double it he took it to a betting shop. Sadly, he lost all the money to a virtual game. Now, he is mostly likely going to be kicked out of his apartment and wind up homeless on the street.

The football season starts today. Many folks who gamble see it as an opportunity to cash out or double their money. This is a great caution to never take out a loan to gamble and another way of saying this is never gamble with money you cannot afford to lose. Lastly, I believe we have a moral obligation, not to introduce any friend and family to gambling matter how much we may have won in the past or think we will win this season. You can share your thoughts.

The nonsense that heavily addicted gamblers get up to never ceases to amaze me. It is a blend of pure desperation, laziness and greediness that ultimately drives people to commit such acts but a lack of education seems to play a role as well. It's bad enough that he put money down that was paying for a month worth of a roof over his head, but he put it down on a "virtual" sport which is absolutely engineered to only benefit the sportbook - there is absolutely no luck involved, it is all predefined through automated algorithms. He could probably have found much better odds with some sort of sports team and had a genuine chance of doubling up. It's hard to have any sort of sympathy for the situation he has created.
2095  Economy / Economics / Re: TOPIC: Pros and Cons of saving fiat versus saving Bitcoin in this current econom on: August 05, 2022, 06:28:33 PM
Having known that fiat money is a type of currency, a bill of exchange, a negotiable instrument, otherwise known as paper money or dollar bill used to purchase or pay for products or services that ensures our comfort, it is rather debatable whether saving fiat in the bank, at home or in bitcoins, is a good idea.

Bitcoin, however, is a digital currency. It utilizes a computer network as a medium of exchange that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. Let us, therefore, consider some of these pros and cons to see the light:

1 Bitcoin is secured by blockchain technology, thereby making it difficult to counterfeit or toy with.

2 Bitcoin hardly has a physical structure to speak its value unlike that inherent for fiat money. It operates on a decentralized infrastructure that makes direct money transfers quick, traceable, transparent, and immutable.

3 The number of parties involved is technically only two for bitcoin, unlike fiat where third parties must be present.

4 As the current world change has been from the traditional mode of exchange to electronic mode(digital mode). Bitcoin has an upper hand, as it is purely digital.

5 Bitcoin has in recent times proven to be a strong alternative to fiat money, thereby making it a unitarian global currency.

6 Bitcoin and many cryptocurrencies have just a finite number of the same available.

7 Bitcoin ensures ease to do business with both local and international parties that involve huge amounts of cash, without having to incur heavy charges considering the volatility of the exchange rate, unlike fiat money.

The pandemic shook the economy and exposed flaws in both personal and public systems of commerce. Recession became an aftereffect after the World pandemic and the ongoing war between Russia and Ukraine has added to this quotient. It is however noteworthy to examine these pros and cons of saving fiat versus that of saving with crypto in this period, to be ready for uncertainties.
Knowing what you now know, would you rather save fiat more or save in Bitcoins more?

Let's face it, most of the criteria you have listed is also applicable to fiat currency and contrary to what most people around here might claim - banks have a pretty exceptional track record when it comes to security. There are also various flaws in your points, like number 6 where you mention that cryptocurrencies have a finite number available, but in actual fact there are many crypto coins out there which have flexibility often determined by the developers on whether any new amounts get introduced, so buyer beware on that front. Number 5 is another flawed argument, as we already have billions, if not trillions of transactions taking place each day via electronic mechanisms without even factoring in cryptocurrency - if crypto disappeared tomorrow it would have a fairly negligible impact on future progression.
2096  Economy / Gambling discussion / Re: How Gambling companies can get more users to deposit. on: August 04, 2022, 09:19:06 PM
This post is based on the article published on the source: Source

The source explores how around 49% of the users would deposit more money based on better withdrawal options. Apparently, the survey conducted by US firms explored various areas that stands really important for people.

They explored a new idea where having a player, having a traffic doesn't necessarily mean that the site got a new player, they generally didn't account it for until and unless they have made a ' Deposit '

Which necessarily improved when the Gambling platforms had more withdrawal options, things Like: PayPal, Debit Card, Online Gambling, Cash app, Gift card etc. Having the freedom of having so many options improved the players willing to deposit money by almost 49%!!

This is certainly something that the Gambling companies do have to look into since this will go long way, thus changes needs to be made, What do you think, how important this option is for you?

The funny thing is the withdrawal options are rarely tested until there are some big winnings, because people can often play through to a complete wipeout of any funds loaded in the account. You might find that while lots of withdrawal options are offered and may be genuinely honored, it could take a long time to process such withdrawals. There are also often laws, mainly intended to combat money laundering, that aim to make sure that as much money as possible is returned to the original payment source rather than allowing you to filter it out of the site in whatever format you want. Honestly, a lot of options might draw people in but it can just be an illusion of legitimacy that is built up when you see reputable payment partners rather than much practical benefit.
2097  Economy / Speculation / Re: Are we at the bottom? no one knows, but market is doing fine. on: August 04, 2022, 06:22:01 PM
market is doing fine.
How much deeper market gonna dive? Many believe we are near bottom. And there is a big reason for it. Market acting surprisingly fine despite everything.

First it was interest rates. We knew it will be around 75 and it was. And market rallied (relief rally?) And it did not stop when numbers came in and US GDP growth was negative for the second consecutive quarter (which is a big recession indicator).

Why is that? Many think it is because we have allrdy saw the bottom and that market is currently "undervalued" so it is kind of numb to bad news. It very well might be the case, or it might not. Frankly It is not about where the bottom is (if there is one) but rather when there will be room for real growth! Current situation is:

We might allrdy be in recession.

Inflation is still here.

War in Ukraine continue to have an impact on energy and food price.

Feds made it clear that Interest rates will be raised more and more until inflation is under control.

Do you see any good signal that we might get out of this mess? Bottom or not until these fundamental problems are solved I just can't see a bull market coming.

It's hard to tell what you are describing because most people refer to stocks when talking about "the market". Funnily enough stocks are still going very strong even though there are all these recession warnings around, which is the opposite of bitcoin that took a huge slump recently but is slowly regaining ground. You have to consider that crypto is extremely high risk, so the moment things start dipping, everyone is in a stampede for the week exit and it takes a long time to regain trust. You also have to consider that it's getting a lot more expensive to borrow so people don't have cheap money available now to "invest"
2098  Economy / Gambling discussion / Re: Casino Games or Gambling Considered Sports, really! on: August 04, 2022, 06:15:07 PM
I just wrote and it reminded me...because sometimes we play it and forget, but poker is considered by some a mental sport, in fact countries like Brazil consider it that way, we also have the game of pool, considered a sport and it is in better organization because world championships are held even with teennagers.

Quote
"This is the official campaign to bring billiards as an additional sport to the Olympic Games Paris 2024. The World Confederation of Billiards Sports (WCBS) is running a campaign to prove the worthiness of billiard sport to the International Olympic Committee."
https://twg2022.com/international-federation-news/bringing-billiards-to-the-olympic-games-2024/

For now these are the ones that have official status considered sports.
  • Poker.
  • Billiards. Pool. Cue sports

Sources:
Quote
The International Federation of Match Poker (IFMP) is the governing body of sports poker, promoting poker and its Match Poker™ variation as a skill game and a mind sport. Having evolved from its original seven member nations to more than 50 federations, IFMP is now the hub for a thriving world poker community.
https://matchpokerfed.org

Quote
  • Confederação Brasileira de Texas Hold'em ( Brazil)
  • Dansk Pokerforbund ( Denmark)
  • Fédération Française des joueurs de Poker ( France)
  • Stichting Nederlandse PokerBond ( Netherlands)
  • Russian Sport Poker Federation ( Russia)
  • Ukrainian Poker Federation ( Ukraine)
  • UK Poker Federation ( United Kingdom)
https://en.wikipedia.org/wiki/International_Federation_of_Match_Poker

Poker Recognized as a Skill Game by IMSA
https://www.pokernewsdaily.com/poker-recognized-as-a-skill-game-by-imsa-10821/

Quote
A "Billiards" category encompassing pool, snooker, and carom has been part of the World Games since 2001.
https://en.wikipedia.org/wiki/Cue_sports

Quote
WCBS is the world governing body for the Billiards Sports of Carom, Pool and Snooker. Our aim is to bring these sports to the Olympic arena and unite the global Billiards community.
https://wcbs.sport


So, you think that other traditional games where you bet have that status.
What casino games are sports in your country?

It's a bit confusing how you conflate a more active sport, like billiards where you at least have to get up, be a bit flexible and navigate around the table with poker which is purely a card game. It would be better to compare it against something like chess. Poker is definitely a game for geniuses at the highest levels but it does already have many large scale tournaments and offerings for all sorts of players. You could throw "esports" out there as a better and more similar example, which takes dexterity and plenty of practice to become the best - but for most games it is not really strenuous physical exercise and they should both be acknowledged for different kind of effort.
2099  Other / Politics & Society / Re: China-US-Taiwan and the Economy on: August 04, 2022, 06:02:59 PM
I want to present an analysis/prediction of the world focusing on China-US duo (with Taiwan as the victim/battle-ground) and the effects of that on the global economy and possibly make a conclusion about possible effects on bitcoin.

Your analysis is pretty stupid to be kind. Authoritarian and centralised governments have been shown throughout history to fail constantly, some may last longer than others but it seems like China is going backwards right now. The reason that China became so successful in the last couple decades was the fact they were becoming more westernised and embracing capitalism - Xi Jinping is about to recreate the disastrous reign of Mao out of his own vain desires. This is not to say that the Chinese way of government does not have some advantages, but on the whole it cannot compete with the innovation and free thinking of more open societies. Frankly considering the size of the population, very little research, science and technology innovation has actually come out of the country - but they've gotten good at copying things.
2100  Economy / Gambling discussion / Re: Government Owned Online Casinos What Do You Think Of Its Potential on: August 03, 2022, 09:06:42 PM
The Covid is still here and we are still in a pandemic, I have a topic where Macau is struggling to keep their casinos open despite the spike in their country

Macau's Casino Operation Continues Despite The Latest Outbreak

What do you think if these countries or cities that totally depends on their casino for their revenue to keep the economy floating launch their own online casinos, there are already online casinos based in Macau or a country where land casinos are government-owned but it's privately funded what I mean is government-owned.

Will they get enough support, will they get a huge slice of the market that is ruled by companies, they have the funds and they have the reputation because they are government who are more established and will be more compliant

It's a bit of a confusing question really. In most normal societies launching an online casino is nothing special or unique, you see hundreds of them being advertised here, so why would it be some sort of exceptional idea for the Macau casinos to launch them? I'd be highly surprised if they aren't already operating online. China is a weird country, where they pretend to have private companies but in reality it all ties back to the authoritarian rule of  the CCP. They used to be quite hands off, but we can see under Xi Jinping they are developing much stricter controls again and removing the illusion that companies have relatively free commerce, without interference from the corruption of a political dictatorship. Sadly I fear the revenues from such casinos will not necessarily be spent on making the life of the average Chinese citizen better, maybe just kept concentrated in the hands of a few.
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