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2101  Economy / Economics / Re: BEEN IN THIS GAME FOR 6 YEARS on: November 25, 2019, 07:32:46 PM
Overtime fiat money will get worse, even more than it already is. And I think we are already experiencing it, bit by bit. I don't know what will the government do to prevent this or to slow it down. But considering how people treat Bitcoin right now, it's inevitable

Things are obviously more complex than that

As they say (well, actually that is what I say), not all fiats are born equal, and if the US dollar inflation is in fact quite negligible (while we shouldn't compare it on its own apart from the changes in wage rates within the same period as the latter are rising too), this is not the case with almost any other fiat currency out there (except for a few top currencies like Euro and Swiss frank). So the government, or rather governments, are not going to do anything about it for the simple reason they are the cause of price inflation and, most importantly, they are the ones profiting from it

2102  Economy / Trading Discussion / Re: Hodler, you motherfucker. on: November 25, 2019, 02:11:16 PM
What I mean is that most trader spend their times monitoring the price for hours like 20 hours a day and 4 hours sleep in extreme way or let's say continuously monitoring the market 14 hours with less rest in it, that's the way people can re buy in the right time

But that explanation undermines your previous point

If you are looking into the market once or twice a week, you may see where the ship sails, and thus choose your entry and exit points (mostly, the latter).  Indeed, if you make a couple trades a week, this won't make you into a day trader (though opinions may vary), but that still makes you a trader, not a 100% holder

Technically, it is exactly the idea behind "hodling", i.e. to forget about your cryptocurrency investments for a few years (the longer the better). You can see such advices springing up here and here of the forum, especially when someone was unlucky to buy at or near the top. To sum it up, a hodler is essentially a failed trader
2103  Economy / Gambling / Re: WOLF.BET - Provably fair dice game $1,000 Daily Race7-day streak bonus on: November 25, 2019, 01:04:48 PM
They should disable players that are hidden to participate in those kind of public competition.

Well I was even thinking the same, because it's just a username. If you don't want to recognize you by the username just take a random username and no one will know who you are

What's in it for you really?

I honestly want to know. If they reveal players' real names, what is that going to change for you personally? Will your curiosity be satisfied since if it is not idle interest, I can't come up with any plausible reason why the casino couldn't feed you fake accounts each race (as well as faked stats, for that matter)? Note that I'm not saying that they do, but if this is your true interest, angle or objective, or whatever, that won't help to expose them
2104  Economy / Gambling discussion / Re: Do you have control or not? on: November 25, 2019, 07:32:08 AM
Can you consciously and willingly stop gambling at any time?
If you can do the above, you have great control and discipline, of course you are not an addict and you deserve to gamble as much as you want.
If not, clarify your ways of stopping gambling.

I may not be able to stop gambling unless i have no money left. I do not consider myself addicted and all the gambling addicts also do not think themselves addicted. This matter is very subjective and no one knows if they have control to stop the gambling or not, until they really face the situation where they want to stop it willingly.

I don't think that gamblers don't know they are addicted, they know but they are only in denial of the truth that they are already addicted. For me, they do have the capacity to control themselves it's just that they mostly let their greed affect their decisions or thinking to the point that they become unaware that they are already doing the wrong thing and I guess the only thing that can stop them is when they don't have everything already

If you can quit gambling on your own, you are definitely not addicted

It can be thought as one of the definitions of addiction that you can't get rid of your addiction of your own volition. And I don't agree that gamblers who are addicted are in denial. Some of them may be for some time, but most addicts (and not necessarily gamblers) become fully aware of the ruinous potential of their activity after some time

It can be thought of as a divide of sorts. When you come to understand how dangerous to your wellbeing your habit is, you drop it. If you can't drop it of your own free will, then you are addicted and need to seek professional help. For example, junkies are typically very well aware that they are addicted, but they can't help themselves
2105  Economy / Gambling discussion / Re: Gambling as a profession: there's people who live out of gambling? on: November 24, 2019, 02:03:11 PM
And some of this pain comes from casinos themselves standing between you and profits. Ironically, I don't mean the house edge here as it is in fact a minor pain for the simple reason it is fully predictable, and thus can be taken care of. It is when you try to get around it in some sophisticated way (like the one you mentioned with sports betting) that casinos start to create difficulties and put grit in the device you come up with. It can be the max bet you can place being too low so that you wouldn't earn too much in the best case scenario or the minimum bet amount too high so that you can't unleash the unbridled powers of martingale, or anything that won't let you turn the tables in your favor

That's right, but here's what I think about the limitations on the max profit per bet. Basically, casinos act in the same way smart gamblers do(or should do): they don't risk the amount they can't afford to lose. Even though they know that they have slightly more chances of winning because of the house edge, they are not taking the risk. I think, we, gamblers, should take an example from them, especially when knowing that house edge is working against us

Actually, that's what I am repeatedly telling folks here

If we are talking about honest casinos, i.e. those provably fair (minus the house edge, obviously), they are as susceptible to the effects of bad luck as their players. That's why the proper bankroll management is of the utmost importance to any casino which considers itself fair, especially in crypto, where one holder can easily buy a dozen such casinos and not break a sweat at that (let alone ruin them)

But if the max profit per bet or max bet amount is reasonable, and you can bet doges, it becomes pretty irrelevant as long as the minimum bet amount is at its the lowest possible value. In other words, if you have enough dough, you can run pretty safe martingale strategies. Well, until the casino all of a sudden stop being fair, raises the minimum bet amount, or simply makes bets so agonizingly slow that you lose all interest using these strategies
2106  Economy / Trading Discussion / Re: Hodler, you motherfucker. on: November 24, 2019, 01:33:00 PM
I really don't get the mindset of all these people saying hodl 100% of the time. It is quite clearly more profitably to sell when the market is down, and rebuy when the market is up.

If you do that several times in a row you will end up with significantly more BTC than when you started with. Obviously this larger stack will then be worth a whole lot more if BTC ever reaches the moon as so many proclaim.

You could even throw in some shorting on the downturns and prediction markets for the upturns to increase your profits even further.

Mindlessly holding is now the way for a trader.
What about those people who have no time to spend hours or even days monitoring the latest market condition to know when the best time to sell and when to re-buy it?

Are you sure these people made the right investment choice?

I mean the right choice of investing in Bitcoin and crypto in general? If you, generally speaking, don't have time to check the prices once a week or so, maybe cryptocurrencies aren't for you after all. Maybe you should start looking into something else, for example, deposit accounts which you don't have to check months on end or even long-term treasuries like 30-year bonds which you can safely forget about for literally decades? Just my 2 sats
2107  Economy / Economics / Re: The Risks and Rewards of Cryptocurrencies on: November 24, 2019, 09:20:33 AM
The risk that we are taking when we are investing in cryptocurrency have much higher risk than investing on real state properties, or in a business, why is that, because we are talking about volatility here that could spikes, either it goes up very wild or goes down very wild, like as of now, bitcoin's price dropped again to $7,500 and it is still very puzzling when will be the next bull run going to occur to recuperate our losses

Well, that actually remains to be seen

In fact, you are making sweeping generalizations here. First, investing in neither business nor real estate is a guarantee of stable income of any kind (as far as volatility is concerned). Further, these investments are not guaranteed to succeed at all. Your property can lose all its value due to a multitude of external factors up to a point where it will start to generate negative money flow as you will still have to pay property taxes on it, regardless of its market price. And then most businesses fail in their fresh year

The point is, investment reality is very distant from how you see or rather imagine it. To sum it up, investments in Bitcoin are overall less risky unless you are a genuine expert in the field where your are going to invest in (real estate or whatever). Bitcoin is already firmly established, and it is not going to kick the bucket any time soon, no matter how high its volatility can be. And volatility works both ways anyway, so you can ride it and earn a couple of bucks here and there which would amount to a handsome percentage annually
2108  Economy / Gambling discussion / Re: Do you have control or not? on: November 24, 2019, 08:19:28 AM
Can you consciously and willingly stop gambling at any time?
If you can do the above, you have great control and discipline, of course you are not an addict and you deserve to gamble as much as you want.
If not, clarify your ways of stopping gambling.

It's very important that you can control yourself and you can force yourself to stop anytime consciously and willingly, this is gambling it can ruin your life and your pocket, if you cannot stop yourself you are going to be on a trap, this is the first thing that you need to develop if you want to make good and continue playing without problem.

it doesn't matter if we want to play 24 hours may normally someone will lose focus if they gamble after 2 - 3 hours and after that sometimes they lose control

Autobet solves this issue

So you set the variables, then kick it off with a series of automatic bets (probably infinite), and
voilà, the problem of losing focus solved! You can then go on your business doing something else while technically you will be gambling all that time. When you feel it is time to check how things are going in there, you just take a break from not gambling and proceed to "gamble" for a while. Thus, no need to stay focused 24/7, a couple minutes a day will suffice and actually do wonders for your overall gambling experience
2109  Economy / Economics / Re: What are some not so obvious things that damage a country's economy? on: November 24, 2019, 06:47:22 AM
It's the individual. It's really not an obvious factor but if you combine every individual citizen of a country, doing the same thing, then it will be obvious that's it affects their economy. For example, buying more foreign brands than local brands. If you look a single person, you wouldn't think it affects the economy, but if you will look at the wider perspective, if most local citizens prefer foreign brand, it shows they're neglecting their local productions

And what should we do?

Should we levy a protective, or rather prohibitive, tariff on imports to protect the domestic economy rather than to make it competitive so that people could only buy domestic things instead of foreign brands for the simple reason they can't buy anything else? But that would mean that the quality of domestically produced goods will only decline further since we are effectively removing the competition from the market
2110  Economy / Economics / Re: Is bitcoin volatility here to stay? on: November 23, 2019, 05:06:14 PM
Money used to be tied to gold. It was deflationary because tied to a fixed resource. Over time money got turned into bank notes, which are essentially IOUs. A £10 note isn't £10 of money, it is a piece of paper that says I owe you £10 of money. Crucial difference. "Money" now if effectively debt. We are all moving debt around all the time; "money" has been so abstracted that it is no longer tied to any physical asset. New money can be printed at will, indefinitely. And it is printed at will. It is inflationary. It is a con

And who owes whom, and what exactly?

All right, money is debt, and it is a piece of paper that says you owe me £10 of money. Where can I get that real money then? Okay, you don't owe me anything personally, I get it. But really, if money in the form of banknotes (or whatever other than hard currencies backed up by something tangible) is essentially a piece of IOU, what is actually owed by this IOU? As far as I understand it, modern money is simply a unit of account which is conveniently and conventionally used as a medium of exchange, and that's pretty much all there's to it
2111  Economy / Economics / Re: What are some not so obvious things that damage a country's economy? on: November 23, 2019, 01:49:16 PM
In general, the function of this education is to shape the character of a student so that he becomes a person who is moral, noble, virtuous, resilient, and behaves well

If you ask me (since you replied to my post anyway), that's not gonna work out

And the problem is not with the "character education" itself (as you call it) as I'm totally fine with the idea as such (with less emphasis on "education", though). But this idea is a blatant utopia because who is to teach that "character" to a student? But what's even more important here, who is to determine what that character should look like ("moral, noble, virtuous, resilient, and behaves well")? And while we are at it, how come that I feel like we had already seen something like that before, and it failed miserably? I mean character shaping and designing "a better man" who "behaves well" from scratch? To my skin, it feels a bit Orwellian, doesn't it?
2112  Economy / Gambling discussion / Re: Gambling as a profession: there's people who live out of gambling? on: November 23, 2019, 07:48:41 AM
That's the most problem of those gamblers who win and hit the jackpot price, they become greedy and want more even if they already have what they wanted. Winning or hitting the jackpot is already enough to stop playing gambling especially if what you have won is already good for your lifetime budget. Imagine, if he stops playing gambling and stays contented on what he has then for sure his winning are just with him until now and maybe have already his own casino or ant business that he wanted.

That is right. But I am sure that there is a smart person who can win or hit the jackpot, and then he can stop playing gambling and get the money to celebrate or even for saving that money. That person realizes that with that money, he can get anything he wants, and he doesn't have to come back to the gambling places for a long time

I think that rarely works out in real life

Why does it not? Before we proceed with this question, let's first discuss another matter required for better understanding of that question. The matter is, we often make assumptions that are virtually impossible in real life. They are possible in theory, but not in practice (like a gambling addict genuinely quitting on his own)

It is the same story here. If a person was smart enough to stop gambling after hitting big win or jackpot, he would likely never started gambling at all for being wiser than that, for knowing better. To cut a long story short, if you win, you are going to come back because you already came before and will come for more later
2113  Economy / Economics / Re: What are some not so obvious things that damage a country's economy? on: November 23, 2019, 06:38:39 AM
snip
The point of government supporting "the parasites" (as you put it) is in fact to keep them contained
… I mean it may be cheaper to pay off them than to cope later with the negative consequences they will otherwise produce (like crime, drugs, diseases, and so on)

Unfortunately the government is not even doing a good job with bribing them. You'd think they've already mastered the art of bribery at this point, ha! Grin

Give someone free food and he'll come back for seconds. Take for example welfare money being given for every kid a single mother have. It's got the point you have women bluntly making it their dream to just live off the welfare and not work. And they and their kids will remain money sinks forever, how likely are kids going to escape that set up.

So eventually you'd havr MORE people that are engaged in a parasitic lifestyle while the number of responsible people decrease (since they'll likely avoid having too many kids)

Okay, let's agree that's an interesting experiment

Then it is worth studying from every possible angle, right? Let's assume the mother is kind of doomed. That's actually a plausible assumption, at least on my own personal level. I know a couple of women who have 3 children, and I'm sure that the government support for them played an important role in their decision to have more children (though it is not for life where I live). Long story short, they are lazy by nature

So they are essentially producers of human resources. But I can't agree that their kids will be like their mothers. First, if they are boys, there is no way they will be supported as their mothers were. But even if they are girls, their future is still uncertain as it is mostly defined by their environment and how they are raised up. And the daughters are likely to despise deep inside such way of living ("parasitism")
2114  Economy / Gambling discussion / Re: Reputation at stake will you stop gambling on: November 22, 2019, 05:55:58 PM
Quote
I am not a big time gambler and hence there is nothing wrong in having a bit of fun now and then.
This would be okay if people are really educated, but if most voters are not, they will certainly judge you on this but its alright, if you run for politics, you don't need everyone's vote, you just need the majority's votes

That may not be enough

Even if you are not a big time gambler (heavy drinker, chain smoker, occasional wife beater, or whatever), it is how you, and more importantly, your competition, present all this, i.e. how people (read, voters) see you. As a matter of fact, any important election is based on massive brainwashing, dishonesty and outright lies, so if you are running for office, being sincere about your habits, inclinations, obsessions, good or bad, may not suffice even if you are well above your competition in personal traits like you love kids, don't beat your wife (too often), go to church of Sundays, etc
2115  Economy / Economics / Re: What are some not so obvious things that damage a country's economy? on: November 22, 2019, 10:59:12 AM
Even Denmark, which is popular for providing basic facilities for free, takes huge amounts of tax from its citizen.

And that only works as long as you have enough people being added to the job market that is willing to put up with it. If the parasites multiply, it can all fall apart. And it can get sooner than anticipated, that's why people should be looking into alternative ways of growing money. The goal is to not be reliant on the government

I mostly agree with your opinion

Especially, the part about responsible and productive members of society being punished fiscally in favor of the lazy and reckless ones. With that said, though, we must consider the problem from all sides and from all angles. The point of government supporting "the parasites" (as you put it) is in fact to keep them contained

I don't mean just their sheer numbers (this is a separate topic) but also the negative impact they could and would have on that society in more direct ways. I mean it may be cheaper to pay them off rather than cope later with the negative consequences they will otherwise produce (like crime, drugs, diseases, and so on)
2116  Economy / Trading Discussion / Re: Hodler, you motherfucker. on: November 22, 2019, 09:47:14 AM
Mindlessly holding is now the way for a trader

People have obviously burned their fingers

Many had probably tried the "trading routine" in the past, and if the price went their way, they quickly sold out without letting profits grow. On the other hand, if the price went against them, they were not so quick to sell and cut their losses short, so they unwillingly and reluctantly turned into "mindless holders". So either way, these wretched traders had essentially only one option ahead of them (well, a single option is not an option at all), and which was to hold
2117  Economy / Gambling discussion / Re: Reputation at stake will you stop gambling on: November 22, 2019, 08:14:55 AM
Well, actually, people would be eager to find out all this dirty stuff about you
You are correct about this. The las Vegas lifestyle is a high risk one and definitely something not to be at least proud of after a certain age. However gamblers are high risk takers so they would rather decide on what fun they would have and not the outcome. Because if they did think of the outcome they would not be gamblers at all

That's not the only issue or aspect

"Good" politicians, i.e. scheming, domineering, manipulative (think House of Cards here), cannot be gambling addicts or frequent visitors to Las Vegas, and not because they care for their reputation - they certainly do as reputation is everything here and elsewhere - but for the simple reason that what they are involved in (i.e. politics) is already a sort of gambling in its own right. I could go so far as to say that any hardened politician as in hardened criminal (actually, there is not much of a difference between the two) is a gambler deep inside but his "addiction" has nothing to do with casinos. His stakes are way higher and oftentimes affect whole nations or even the entire world (think Trump here)
2118  Economy / Economics / Re: Central Bank: If The Entire System Collapses, Gold Will Be Needed To Start Over on: November 21, 2019, 06:41:13 PM
Gold is old fashioned way in starting over. We already have cryptocurrencies and I think with their technology called blockchain, it is enough for us to start over with a more advanced type of technology and with the power of decentralization. People love to be independent and to be more advanced so cryptocurrencies are much better compare to gold.
we cannot deny if gold is indeed a good asset in investing from the past and the system and the benefits of gold investment are profitable but as technology develops there are certainly breakthroughs or ideas that can invest more than gold and maybe for that investment with crypto or blockchain currencies. it is a breakthrough that uses the progress of time and technology and can be used by all levels of society, of course
Gold and bitcoin good investment assets but depend with investor which one to invest, if investor like faced with big risk and big result will invest with bitcoin and altcoin, but for investor take safety with their investment choose gold as investment assets, I like for take risk with investing on bitcoin or altcoin because have increase profit higher than invest with gold.
Gold is the best option only if you want to store your excess monthly earning and nothing more. The downside of gold is the fluctuation that is just as volatile as cryptos but in a smaller scale because the higher market cap

This is nothing more than just a wrong view or point of view

The truth is, gold is rock-solid on its own. I'm damn sure you are looking at the dynamic of gold prices in dollars. But it is not gold that changes its value against the dollar as it is the value of the dollar (as well as that of other fiat currencies), present and expected, that fluctuates wildly (at times) against gold. It is a pretty common mistake. Just keep in mind that every equation has two sides to it, and if you change one side, the other should be adjusted accordingly
2119  Economy / Gambling discussion / Re: What's really good have you received from the results of the gambling bounty on: November 21, 2019, 06:28:07 PM
Because the results of this year's bounty are decreasing, even many of the bounty hunters do not earning from bounties, do many of you who don't usually take part in the bounty gambling, now move to bounty gambling to remain earning from the bounty, because I saw in this forum bounty gambling still pay well and continue to live, bounty gambling is an alternative to earning from bounty.
And does anyone of you make income to become from the bounties gambling to fulfill your daily life?

If you are referring to signature campaign then I have to say that you or anyone should not use it as a main source of income. Although the amount you can earn is good enough but you should not rely on, dont even risk your real life job for any bounties in the online world. For me, any signature campaigns is just a bonus for being active in this forum. I do not even use it for daily life needs as most of the time I use what I earn from the bounties to gamble on the site that I promotes through the signature campaign

If anything, it can be a good start

I mean you may barely make ends meet with your real-life job, and that might not be going to change in the foreseeable future (say, you live in a really backward place or in a third-world country). Then, with a signature campaign's earnings, you can build some starting capital which you can use to bootstrap yourself and embark on a journey of your own choosing. Or you can just become a trader with that money (but your mileage may vary)
2120  Economy / Economics / Re: BEEN IN THIS GAME FOR 6 YEARS on: November 21, 2019, 01:48:12 PM
If you are unfamiliar with Gresham's law, you should be by now. In terms of this famous law, Bitcoin is good money being driven out of circulation by bad money, which is fiat in the context of this law. To put it differently, Bitcoin can only crowd out fiat or compete with it if it becomes worse than fiat but in that very case it is unlikely anyone will be using it either as an asset or as a currency. Isn't it a lovely paradox that we have discovered here?

Hmm. Isn't it the other way around? Does Gresham's law work the other way as well (i.e. Bad money being driven out by Good money)? Because Fiat money, as we all know, isn't really good at all. And on the case of Bitcoin, it isn't even used as money anymore. So I don't know if it applies anymore, am I missing something? Or I am just a complete idiot that you just wanted to say that, Gresham's law was the cause of how we perceive it now?

It is somewhat paradoxical at first sight, so I can definitely relate to your confusion

But if we thoroughly think it through, it actually makes perfect sense. To resolve this seeming paradox you should take into account people's preferences. For example, which money would you prefer to keep and stash, bad or good? If you choose to keep good money (which is an obvious choice), then, in turn, you will certainly decide on getting rid of bad money. But you can only get rid of it by spending it, and this is how bad money drives good money out of circulation as people are encouraged to spend the former and hoard the latter
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