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2441  Bitcoin / Bitcoin Discussion / Re: Arguments for Bitcoin against UPI? on: February 12, 2023, 02:44:41 PM
His argument was that if banks disappear, there's still some guarantee that we somehow get some of our money back, as its supported by the government.
True, but your money is still losing value each new day by holding fiat currency, due to inflation. On long term, it's totally worthless to hold fiat. You have to invest it faster as possible in something more reliable, that will generate positive returns against inflation and fiat depreciation.

But demand for bitcoin just disappear one day and the value would vanish with it too. He says that just based on tech we cannot really move over, because trust is more important and fiat has earned the trust of the world as of now.
Demand for bitcoin is constantly rising when we analyze it since the beginning. Many criticizers and haters have already stopped badmouthing bitcoin, because their predictions failed, while bitcoin's reputation was raised. On the other hand, fiat hasn't earned trust of the world. As I said, inflation corrodes your purchasing power daily. How can currencies like this have the trust of the world? People use it for ignorance or because they don't have access to other investments' means or means to store their money.

I've brought up convenience and decentralization, to which he gave the counterexample of UPI (a thing that's widely used in India) and come to think about it, its actually extremely convenient. No transaction fees, just scan a QR code and pay. No need to carry any cash on you, and its almost universal. UPI wiki Its available everywhere, on roadside stalls, anywhere. Want a plate of momo? Scan and pay. Pizza? Done. Shoes? Done. You can pay for nearly anything by just scanning a code and its instant. Why would someone want to leave that convenience and want to move over? Is the promise of a better technology enough for this to happen? I would like solid arguments.
In my country there is also an exactly UPI payment method, although the name is different. However, it can be used only for purchases inside the country, while bitcoin is worldwide. Moreover, it's totally under the control of the central bank of your country. Today you don't pay any fees for transactions, but if the government wants to implement fees for this service tomorrow, they can. As they can add any other difficult and requirement for people in order to use UPI. I say that because there are already rumours in my country about the government adding fees to this service.
2442  Economy / Gambling / Re: Freebitco.in - FUN Token Investment Experiment on: February 12, 2023, 02:27:24 PM
Yes, I always sell the extra generated FUN tokens on the moment they are unlocked and then I lock the initial amount for another month.
However, when the lock has been opened and the market is experiencing a bearish phase, will you also continue to sell the FUN tokens that you obtained.
By that time the price of Bitcoin will decrease and you will definitely not get a large enough amount of FUN tokens that you managed to partially sell.
Wouldn't it be better to save it until the market really improves, then you sell all the FUN you have with the aim of getting more and bigger profits too.
That would be a good strategy in case we had the certainty bitcoin was going to fall more yet this year, so FUN would get more valuable paired with BTC.

But since the scenario is pretty unpredictable in crypto market, with some chances of bitcoin entering a bullish run soon, I think it's more guaranteed to profit through instant FUN sales, than waiting for too long and profiting something around 20 satoshis on each FUN, once bitcoin pumps to 30,000$ and above.
2443  Economy / Gambling / Re: Freebitco.in - FUN Token Investment Experiment on: February 12, 2023, 03:29:50 AM
Thanks for the update Uneng, interesting to see the progress. It has probably already been asked but do you sell every month the extra FUN tokens that you get for locking them? Nice to see you got a couple of nice hits, always fun to win 500 or 5000 satoshis/RP!
Yes, I always sell the extra generated FUN tokens on the moment they are unlocked and then I lock the initial amount for another month.

Thanks for the positive feedback, @babygun!
2444  Bitcoin / Bitcoin Discussion / Re: Cryptocurrency industry challenges and impact on Bitcoin? on: February 11, 2023, 11:42:06 PM
1) Scams : A lot of people are doing scams related to bitcoin and crypto which has reduced the trust of people in crypto. Some people are still scared to use crypto because of fear of these scams.
This is one of the biggest challenges bitcoin industry faces right now, if not the biggest one. As many people still look for centralized services when adopting bitcoin and crypto, they still need assurances and guarantees to feel encouraged to invest their money. However, since these assurances are non-existent so far, it becomes a big challenge for the industry and its entrepreneurs to overcome it.

Another challenge are the regulations and how they are being developed and launched in different nations of the world. Some are hostile to bitcoin, while others are more friendly. The challenge is to give fair and free access to every individuals in the world to bitcoin, without any kind of barriers.
2445  Economy / Gambling discussion / Re: Do casino and sports betting platform owners gamble as much as other people? on: February 11, 2023, 09:55:19 PM
This is a curious question and although I don't know any casinos' owners for real to claim they are casual gamblers or not, what I know is that depending the jurisdiction casinos' owners aren't allowed to bet inside their own businesses.

Are casino owners allowed to gamble on their own machines?

And actually it makes total sense. Just like sportsmen can't bet on the sports they play. After all, it would be a negative propaganda if a casino's owner kept winning jackpots on his own business, while majority of the customers would be losing... That would be easily used by other companies to take advantage on the industry against that casino in particular.
2446  Economy / Gambling / Re: FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest on: February 11, 2023, 03:05:49 PM
I have a question:

SEC just fined Kraken for $30 Million for offering "staking" services to users. And since exchange staking isn't really staking but just technically paying interest;
Do you think this will affect on services like freebitco.in that's also offering to pay interest for users holding their bitcoins in there? Or how would this be any different?

I don't think so. Freebitco.in has clearly mentioned that they are going to pay interest on their deposits.
I think Kraken was fined because they used the term staking and would not have indulged in the consensus mechanism of staking.
But bitcoin doesn't have any staking system. So it's simple that the sites is paying its users just to hold funds on their site.
So I don't think there is any reason why SEC would fine freebitco.in

As I get it it's just for US citizens, others can continue with their staking without any worries. The US is tough when it comes to laws and regulations, and people from there are restricted from many things... I can't even count how many times I saw "not for US citizens" in some casinos, ICOs, or any other service. The FBI has long arms... I guess we all know that.

Well, I wouldn't compare Kraken and Freebitcoin in the first place. And I don't think we need to worry about staking in general, especially if you are not a US citizen.
You took those thoughts right out of my mind, it's a mistake to compare kraken to freebitco, they are no match in anyway, and like you rightly said, kraken must have been fined because they offered staking and internet to citizens of USA, which like we all know, is one of the toughest countries when it comes to laws and regulations.
And like I'm assuming as well, kraken is also operating in under US jurisdiction and is licensed by US authorities just as coinbase is, freebitco is now way related to this at all, so I think the US authorities have no legal rights to impose such a fine on freebitco ever.
And is freebitco.in based anywhere in the world? I believe the site is totally unregulated, isn't it? Even though, it's still more reliable than any regulated companies offering the same investment features, lol! Cheesy



MEGA WIN today. This is the first time I won a Golden Ticket from a WOF spin.


verify

I just checked its worth and I see that one GT is worth 25k sats wohooo. Even though chances of winning a lambo is pretty slim with only 1 ticket, in theory it is still there  Cool

Another interesting thing is, my roll was only 6672.
Very nice! Congratulations! Cool

I just rolled 90 spins today and best prize was 500 satoshis once. Cheesy
2447  Economy / Gambling / Re: Freebitco.in - FUN Token Investment Experiment on: February 11, 2023, 02:45:58 PM
CURRENTLY BENEFITS




EFFECTS OF BULLISH BTC (08/01/2023 - 06/02/2023) ROI - 14,5566%

This month the impacts of a bullish bitcoin have been experienced by the investment, as the price of FUN token paired with BTC has decreased to the lowest level since the beginning of the investment. Result: less profit (in BTC) from the FUN interest sale, although paired to dollar currency, FUN is also getting more valuable. This month has also been remarkable for nice winnings from Wheel of Fortune, such as 500 and 5000 RPs and satoshis prizes with some extra frequency, compared to previous periods.

2448  Economy / Gambling discussion / Re: Signs of compulsive gambling on: February 11, 2023, 02:10:09 PM
-snip

That's actually applies to everything in general in terms of being hooked up to a certain things/activities, including gambling. Taking a loan to gamble is the worst idea, not unless you're lucky enough to make a profit out of it and repay the loan right after you win to avoid additional interest.
Another worst thing to happen when someone is so desperate to gamble without money is, stealing money from others  just to satisfy one's gambling addiction.
stealing money just to gamble, it's a really really bad thing and it usually happens to gambling addicts of insane levels.
if a gambler who already feels himself always thinking about gambling and in any conversation always involves gambling, that is already a sign that the gambler has entered the addiction level. and if these things are not avoided, in the end, you will continue to gamble until you lose all your money and valuables. and when it's all over, the addict will do reckless things like steal other people's money or rob just to gamble (as I said in the previous reply)
Insane levels of addiction can lead individuals to put their primitive instincts over the reason, consequently taking them to commit acts like the one you mentioned above. They can also show aggressive behavior, lack of focus and attention on basic tasks of their routines, sleep deprivation, and on long term it might have further negative impacts on their cognitive system, if the addiction isn't addressed and treated in time.
2449  Economy / Gambling discussion / Re: What is Gambling? ChatGPT Responses. on: February 11, 2023, 02:35:33 AM
The main message for me is gamble with what you can afford to lose and seek help if you think it is affecting you negatively.

I do think that ChatGPT's response about what is gambling based on age doesn't really make sense. I mean, regardless of age, the answer will be general. Just look at how the response turned out, almost just identical to each other.
It made some sense when asking the AI to explain like he was a 5 years old child, because it was made an allusion to toys and the answer was relatively shorter than the other ones. But on the other cases, it didn't make difference when explaining to a 15, 25 and 50 years old person, with the exception the AI changed one word or another in each answer.

And the AI is actually right, because individuals from all those ages can understand a same explanation with excellency. Only when we are talking to children the terms and definitions used must be different: clearer, simpler, and making reference to elements of their infant world as examples.
2450  Economy / Gambling discussion / Re: The biggest casino property... on: February 11, 2023, 12:45:58 AM
Marina bay sans is a resort in Marina Bay, Singapore. It was opened in 2010 and it’s currently the most expensive casino property in the world at $6 Billion.
The fabulous resort has 2,561 room hotel, 120,000 square feet of the convention exhibition center, a shopping mall, a museum theater, an infinity pool, and 500 table casino, among others.
https://getnoticed.info/2023/02/09/inside-the-biggest-casino-property-in-the-world/
It's really a wealthy property. But it's important to notice it's not exclusively a casino. There is also a luxurious hotel, mall, museum theater, exhibition center and more, what means the potential income this property can make is huge, especially because it must be focus in supplying the needs of rich individuals from every corners of the world who visit Singapore for touristic or business reasons.
2451  Economy / Speculation / Re: Can we experience $80k this year? on: February 10, 2023, 01:06:03 AM
From 21,800$ to 80,000$ it's a long way. And bitcoin has never reached close to that price range. It's very unlikely to see this prediction becoming true this year yet. There are potential chances bitcoin can cross the mentioned barrier on the next bull run, but there are still few years ahead we have to wait in the most likely scenario. Bitcoin attempted to climb up on a sudden run which happened in January, although it didn't achieve keeping the price and it's already falling down again. The year started bullish, and now reverted into a mild tendency of stability.
2452  Economy / Gambling discussion / Re: What most gamblers do. on: February 10, 2023, 12:49:11 AM
I want to ask a question. And I need serious answer from this forum, and my question is WHY DOES A GAMBLER DON'T HAVE A SAVINGS.
You can't generalize. There are many gamblers who have savings, investments and are wealthy individuals, businessmen.

In my country (Nigeria) there are many gamblers who don't have savings and it isn't help matters at all. Most of these gamblers can't afford for there families but they can afford money they will use to gamble. So why are they not having savings that they can use to help there families in time of lack. Like they said, we save money so money can save us tomorrow. But these gamblers doesn't know that.
They are likely problem gamblers who can't organize their minds to manage their personal finances properly. They need guidance from the health department of your country, so they will be advised by professionals like psychologists on how to revert this situation on their lives. They have to seek for help, that is the only alternative, I guess. And better that they do this before it's too late for themselves and for their families.
2453  Bitcoin / Bitcoin Discussion / Re: Do you want to Confess on: February 09, 2023, 08:41:29 PM
There are many mistakes we perpetrate when investing in cryptocurrencies. I've already invested in hyip schemes and lost money to scammers, thinking those could be reliable modern investment platforms, which were only possible to exist thanks to bitcoin. Anyway, the bright side of the mistakes is that you can learn something with them. Like in your case, next time I'm sure you aren't going to purchase your coins from exchanges anymore, since you have an acquaintance who can sell you BTC for a cheaper price, and you only have to pay him after the transaction, ensuring safety on the transaction on your side.
2454  Economy / Gambling discussion / Re: Features in Crypto Casinos for the Elderly on: February 09, 2023, 11:28:54 AM
What other features would you like to see in crypto casinos for senior citizens?
Big, clear and simple buttons on the website make it easier for elders to use virtual casinos, similar to how some smartphones are projected for old people. I believe the many features and configurations we have at gambling platforms difficult the comprehension for elders, and increase the risk they click somewhere by mistake, potentially losing funds too quickly and consequently leading them to have a very negative experience with online gambling.
2455  Economy / Economics / Re: Untouchable Savings: Do you have it? on: February 09, 2023, 10:57:37 AM
Yes. I have untouched savings until I reach my goal, so I can finally touch it. I think it's important to keep this personal rule for your life, otherwise you are going to use funds which were supposed to be untouched for any banal reasons.

In the case of the person who was found dead on the desert I think it was a lack of management, although it's unlikely he/she would have survived even if the water had been drank. The difference would be to find the body with an empty bottle of water, instead of a body with a full bottle of water.
2456  Bitcoin / Bitcoin Discussion / Re: Extremely Holding on: February 09, 2023, 01:43:09 AM
How long do you think you can hold?
I've been already holding for a long time, so I've decided next bull run will be my limit. That is, when btc reaches close to the previous ATH or reach to a new ATH. Then I'm going to liquidate my holdings, and if price suffers a correction, as it's expected after every bullish seasons, I will start investing again.

The only thing I know is that I can't continue holding for much longer, because life and time is passing and money is in our hands to be used for our own good and for the good of people around us.
2457  Bitcoin / Bitcoin Discussion / Re: Teaching children Bitcoin is not in vain on: February 09, 2023, 12:02:33 AM
Teaching children from their 7 years old on about bitcoin is a good idea if you care for their future, but keep in mind they have to be receptive to the idea, otherwise the experience can be frustrating, what can even make them have a negative view towards bitcoin on their adulthood.

Also, it's an interesting alternative to create a wallet for your children and deposit some satoshis there every month, so futurely, once they become adults they will have a decent sum of money to start their professional lives.
2458  Bitcoin / Bitcoin Discussion / Re: Do small e-commerce businesses are scared of accepting crypto payments? on: February 08, 2023, 09:58:17 PM
Small merchants are fearful and doubtful about the regulations on their countries. They don't know the possible consequences of adopting btc as payment method regards fines and punishments which can be applied to them. Bitcoin is still seem as shady and illegal currency by many people in many countries. It doesn't help spreading bitcoin adoption fastly among retailers.

But I believe with the positive feedbacks from businessmen on this forum and on the internet in general can help encouraging other potential adopters to finally make their decisions in favour of bitcoin as well.
2459  Economy / Service Discussion / Re: Crypto lender Celsius mulls possible restructuring amid financial woes on: February 08, 2023, 09:51:59 PM
$4.2 billion in assets, and they pay out $11 million. 0.26%. Wow. And what about all the other 99.7% of their assets and the millions of customers who were ineligible for this pay out?
The definitions of perfect crime were updated with success!  Wink
2460  Economy / Gambling discussion / Re: Going to make mma predictions blog (for gamblers) on: February 08, 2023, 08:48:41 PM
What system are you going to use to score right and wrong predictions from the members of your blog, based on their comments? Will it be an automatic one or manual?

Your idea is good, if executed in an organized manner, as you say, but be aware it's not going to be easy to get recognization and popularit, because there are many bets predictions' websites or blogs right now.
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