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2581  Economy / Gambling discussion / Re: Macau Casino's shares falls against illegal gambling arrest. on: December 01, 2021, 09:05:42 AM
Police arrested 11 people regarding:
Money laundering
Illegal Cross border Gambling

Apparently A person was accused of running illegal Cross border Gambling ( Mr. Chau). The Gambling is illegal in China but legal in Macau.

Quote
Mr Chau is the chairman of Suncity Group Holdings. He is also the founder of Suncity - Macau's biggest "junket operator", which organises trips to Asian casinos for wealthy gamblers.

Shares in Suncity Group were suspended from trading on the Hong Kong Stock Exchange on Monday. The company did not immediately respond to a request for comment from the BBC.

Some of the city's biggest operators were also affected, with MGM China down 10%, Wynn Macau losing 8% and Sands China more than 6% lower.


It was all a part of cross border Gambling sindicate Where they had 12,000 gambling agents and 80,000 members all across China which goes to great lengths to show that even if the government bans such things at the end of the day people are gonna find a way and illegal activities are going to harm them more.

What do you think ?.
I think the Chinese authorities should change their ways for sure.

https://www.google.com/amp/s/www.bbc.com/news/business-59456143.amp


Gambling is declared illegal in China, hence everything that involves it has its designated punishment. It's just too bad that the Casino in Macau is entangled with such a chaotic mess that isn't supposed to be involved since as far as I know, Macau has its own governance outside China because it is an autonomous region. It's just funny how twisted the law and the government of China can be. After all the banning and declaring of most of the things that entertain and source of income of most people there, they have the audacity to perform an arrest outside their jurisdiction. People will just keep on looking for ways to make things possible on their end. In this case, they made cross-border gambling. VPN is one of the things they could do if the casino or site they are playing with doesn't include the use of VPN illegal in their terms of service.

I get it that they are just preventing bad things from happening such as money laundering and developing bad habits such as addiction, but they can combat that without actually banning gambling. Because after all, people will just keep on making another alternative to bypass and do what they want, illegally speaking. This just compromises the state and it doesn't even bring benefit to the country because they don't get to tax illegal activities.
2582  Economy / Economics / Re: Why are some government officials like saying what they don't understand on: December 01, 2021, 08:11:44 AM
That's hilarious! It seems government officials are same all over the world. It's no exception here in my country as well. I have a misfortune to work with the beaurocrats for two years and I have observed and that 99% of these officials are stupid and have sky high ego. Moreover they prefer to act as a puppet to the politicians.

CBDCs can't replace crypto in any way! If some officials are thinking that way, then they themselves need to wake up and face the reality. Unfortunately, that's what makes the difference between progressive and regressive nations.

I can't agree more. Most bureaucrats think so highly of themselves so much merely because they have a position in the government. They take that as leverage over other people mainly against ordinary ones. Maybe they think they have immunity because they are government officials since basically, the higher-ups are also tolerating them. Little did they know they are just being pawns in the chess game of the politicians with much power. The benefit goes to both parties still after all.

Also, can't really stand this kind of people who kept on saying that the CBDC will destroy bitcoin and crypto in general. Foremost, CBDC and crypto have their own purposes. They are existing for various reasons and there is no need to pit them against each other because they can coexist serving their own target markets and being an alternative for each other. Since you see, it would be a little too hard to some if the other vanishes away. It's just really the people that make things complicated than what originally is. Both have their uses and it can benefit people if they will just utilize its best to their advantage.
2583  Economy / Economics / Re: What's the best advice? on: December 01, 2021, 07:40:17 AM
With the way crypto world is going now and everything is techy futuristic what advice would you give your children when growing up?

Gaming as we know it can now give you monthly payments and as a parent would you allow your kids to get into this just for the money making? To be honest kids are more good at gaming

Now that the birth of NTFs that has a play-to-earn feature is becoming more and more widely known and patronized because of its income-generating feature through tokens and coins given in the game, I think it would be wise to tell my children in the future to invest in them because they have a dual purpose - to enjoy and to earn. That way, they can be entertained while earning at a young age. Their mind would be trained and certain aspects and skills could be developed by playing such as critical thinking skills, strategies, and techniques that could help them in the future outside the game as well. In addition, it could also help them develop a good set of attitudes such as discipline, determination, and patience which I believe are an important set of characteristics a gamer and a person, in general, has to possess to be able to succeed. But this would just be a suggestion to my kids. I wouldn't really impose them to play if they are not interested in it. After all, to each his own. What seems appealing to us might not be to them, given the generation gap, it is possible that some other things could get their attention more. And that's totally fine with me.

If they would be interested in my suggestion, I would gladly help and teach them and give them starting investment money for them to be able to play. I would guide them and I would make sure that they will not be lost along the way. Because after all, I still want them to learn to prioritize the things that matter most. In children's case, it would be their well-being and studies. The playing and entertainment part are still of importance, but it has to be balanced.
2584  Economy / Economics / Re: No where is actually safe on: December 01, 2021, 06:57:31 AM
Many are living their businesses to turn to crypto with the mind of joining the trend and with the way crypto investment is been hyped lately many just feel its actually one of those easiest way to make money online and the funny part is most of them dive into this opportunity without any formal knowledge about how the system works.

I will say crypto isn't a safe Haven and there is no 100% guarantee in crypto investment although one can attest to the fact crypto isn't ponzi but yet it's not just an easy adventure its an ever learning business option that could be passively yielding and at the same time bankrupt yielding depending on ones approach.

If crypto was that easy to go by we would have had more than half of the world's population living very comfortably not giving much concern to their economic data any longer. But the truth remains crypto investment is more difficult compared to manual businesses

There isn't really a hundred percent safe place for you to store your assets that could guarantee you a huge profit in a short span of time. Everything takes time. An investment needs time to mature may it be in crypto or other investment vehicles. If someone offers you easy and big return of investment in a snap, probably it is a form of scam. Do not be fooled because there's no such thing as that right now, most especially that we are in the middle of a crisis. Having a profit in investment is not an overnight process. If you want to invest your hard-earned money in crypto, then expect your money to generate profit after several years. If you want a fast profit, then do trading or scalping. Go for the short-term if you want to see your money gaining instantly. Or you could do both if you have the means. That way, you will see how long and what it takes to make money both passively and aggressively.

If you want more than what I mentioned to secure your future, then you can opt to invest in other investments as well that are trusted and reputable. You can also try to put up some sort of business if that's your thing. Or you could hustle using your passion while doing crypto to have other money-making alternatives. You see, we have to have many streams of income to be financially independent someday. Sticking into one income-generating source won't guarantee us to be financially stable in the future.
2585  Bitcoin / Bitcoin Discussion / Re: Microstrategy Buy more Bitcoin on: December 01, 2021, 06:23:50 AM
The whales are taking advantage of the Bitcoin market and are buying the dip and Microstrategy one of the Bitcoin whales buys more than $414•4 million worth of bitcoin in addition to its present Bitcoin holding.

This time is really a great opportunity to buy coins because the prices are low, so you can buy more coins at a lesser value that could make you a huge profit once the market starts pumping again. Actually, this is one of the golden rules in crypto, "buy low, sell high". Whenever we have the opportunity to buy, let's grab it. Let's choose to look at the positive side whenever the market goes downhill. Let's utilize the low positions of coin right now before it starts to go skyrocket again. But of course, you should still do this carefully. Do not just impulsively buy coins that are in a dip, because not everything that has a low price right now is a good investment. Still do your own research to know if the coin you are planning to buy is worth the money. Do not be fearful whenever this kind of season happens because crypto always bounces back right after. Instead, buy the fear and sell the greed like what they say.
2586  Economy / Economics / Re: New COVID strain may affect crypto valuation on: December 01, 2021, 05:47:51 AM
I am observing today something similar to what happened in 2020 but at a micro-scale. The announcement of a new COVID variant that may be resistant to current vaccines has sent the Dow and the S&P down the drain, particularly airlines and other travel hospitality linked business. Zoom stocks are up, mining and raw materials down,... It looks like a repetition also in bitcoin price with a plunge that may be ongoing.

For those of you that are newer on hodling, just calm down, this is nothing new, bitcoin will be there tomorrow and, likely, rebounding after the initial collapse caused by the stop-loss orders triggering of the first days.

The new covid-19 variant which is omicron is still under the study of researchers and scientists. Since it is just discovered recently by African scientists, there are still so many things that are uncertain and unknown about the virus. Its way of transmission and the severity of illness it will cause to someone is still not yet known because the people who were reported to contact the virus were mostly youngsters that are known to not really acquire severe symptoms of the virus due to high immune system. What the scientists are afraid of right now is the mutations of it because once the virus omicron mutates again, it could boost up the fast spreading of the virus from one host to another which is a very big problem once again because if uncontrolled, it would infect so many people again. Just like what happened to previous strains before.

It could be another challenging season for most of us, most especially those who are into crypto because we all know how pandemic affected the market, not just crypto actually but the world in general. This would be a tough time once again, but I suppose it would just last a short span of time. Because we have an advantage right now compared before that no vaccines has been produced yet. Now, we have the vaccines and the scientists have the background information they need to check what are the similarities of this omicron variant to the previous ones. Hopefully, the vaccines are effective enough for this new strain and to future strains because the mutations are endless, we just have to adapt and be immune to it.
2587  Bitcoin / Bitcoin Discussion / Re: Bitcoin's price, and our mental health. on: November 30, 2021, 03:44:42 PM
It's that time again, where bitcoin(and pretty much almost every other non-stablecoin cryptocurrencies) does a huge nosedive. This is just a reminder that whatever amount you've "lost" with the market  crash, in the end, it's just money. Money can be made back in the future through multiple various ways, whereas you have only one life to live. It's not the end.

Whether you're invested in bitcoin, whatever altcoin, or even the stock markets, if you've been having suicidal thoughts, please think twice and try talking to a professional.

For the suicide hotline for the country you're in, please refer to this list: https://en.wikipedia.org/wiki/List_of_suicide_crisis_lines

Times like today are so reminiscent of the last market crash whereas suicide-related posts and suicide hotlines are popping out on multiple crypto-related subreddits. But yea, this might be cheesy as hell, and while a lot of people here have been here since like forever(hence are probably immune to the effects of these crashes at this point), but if this saves one person it's well worth it.

Happy trading and investing!



EDIT (July 20th 2021): The entirety of the cryptocurrency markets is going to goblin town again. Just a quick reminder to keep your time preference high. The day I posted this topic(March 13, 2020), bitcoin's price was around $5000. Hodling works, ladies and gentlemen.

This post was made roughly 8 months ago but is still very timely. Thank you for this encouraging post. It is surely a great reminder for those who are going through a rocky patch now that we are currently in the downtrend season of crypto.

Entering crypto is a great risk. You should know the basics and fundamentals first before diving into it to avoid regrets soon after. It is not for the faint-hearted and weak minds. Someone has to be mentally and emotionally capable to handle all the paranoia. stress, and anxiety whenever the time isn't in our favor. That is why I salute every one of you who still manages to smile and be optimistic in these times of crisis because clearly, it isn't that easy to accept sudden losses. Regret always lingers, and it would be really bothering, most especially if it involves a large amount.

However, you must not be carried away by these negative emotions. Don't let it overtake your life and destroy you. Instead, use these kinds of unfortunate events as a learning experience that would equip you with knowledge and wisdom in doing crypto. Just think of it as a charge for experiencing your lesson well so that in the future, you could avoid similar and unpleasant instances. It would be hard to accept, but you could do it, step by step. Because after all, what's "lost" is already lost. We just got to move on and do better next time. And the next time we are doing things, we would apply all that we learned in our past experiences.

Now that the prices in the market went rock-bottom, consider it as a great opportunity to buy coins with potential. Make sure to do your own research of course and to still only invest what you can afford to lose. If you are still feeling unwell, you can try to open up with your trusted homies, so that your burdens will be lessened. If you don't have any, I suggest what OP mentioned here which is to contact hotlines that could cater your needs. Best of luck to all of us. I sincerely hope we all make it to our goal.
2588  Bitcoin / Bitcoin Discussion / Re: For those holding BTC for the long haul, do you earn interest on your stash? on: November 30, 2021, 03:13:17 PM
I have been reading up on some interest accounts out there for BTC and Altcoins and the yields are really good especially when benchmarked against fdic insured fiat.

What’s your take on this? Is this a good or bad idea?

I don't think stashing your bitcoin is a great idea. Putting your coins in a stash means giving up your ownership and custody over it because you permit the exchangers to have the authority over your funds. Hence, when hacking happens, your assets aren't safe. There are numerous incidents of hacking already reported with these exchangers and wallets. I suggest to be wary and always double-check where you are putting your hard-earned money/coins because it's not easy to make money nowadays. Reassess if the risk that comes along with stashing your money is worth it or not. For the interest that they will give you, will it be okay to put your funds just for the sake of having your money grow with them? If yes, then go ahead. After all, there are several exchangers that offer pretty much decent interest over time. If not, then don't do it. It still all depends on you.
2589  Bitcoin / Bitcoin Discussion / Re: Do you guys think 0.1BTC is enough to "make it"? on: November 30, 2021, 01:59:58 PM
Considering the supply vs global population = 0.003BTC per person to go around.

Then other factors like not all 21 million will be in circulation due to lost wallets/deceased hodlers who never informed anyone where their seed is, and also an increasing global population and future generations who all want in.

Do you think 0.1BTC will be like owning a mansion?

Foremost, what does "make it" means to you? It's much better to expound and elaborate it in a much detailed manner so that we can answer straight forward.

But if you mean "make it" in a manner to survive daily basis, I think it could get you to start up something that could be your bread and butter in the long run. Because if you will just rely on a 0.1BTC alone, it won't suffice. Definitely it won't be enough to sustain your necessities. Most especially if you mouths to feed. You see, money can be easily spent, but it takes time to make and save it. So, I suggest, aside from just holding your BTC, make other streams of income. If you have spare money, it's better to invest in other investment vehicles that have a good reputation, feedback, and trusted ones. Owning that amount nowadays is good, but it's better to have more so that in case of emergency, you have something to get into without touching your portfolio so much. Otherwise, you'll end up losing and spending the things that aren't really meant to be allocated to such events.
2590  Local / Pilipinas / Re: Kulang ba sa support ang government natin sa cryptocurrency? on: November 27, 2021, 03:23:38 PM
If anything, mas ok na nga ung ganitong hindi parang every week na may bagong threat sa crypto sa bansa natin, di gaya sa US kung saan kaliwa't kanan ang risks of regulation.

But yet, striving ang crypto sa US despite ung risks. Bakit? Mas marami lang talagang investors at innovators dun. Sobrang liit lang talaga ng demographic ng mga tao dito sa Pinas na mahilig mag invest at gumawa ng startup; karamihan sa chismis lang interesado.

Oo, mejo parang ewan ang gobyerno natin dito sa Pinas, pero hindi lahat ng bagay e kailangang i-asa sa kanila. As for ung mga nasscam ng HYIP, meron rin sa ibang bansa mga yan; uso lang dito sa Pinas dahil maraming gustong yumaman ng walang effort unfortunately. At hindi rin talaga mahahabol ng gobyerno lahat ng scams; dahil mostly anonymous sila.

Tama ka dyan kabayan.

Karamihan sa mga kabayan natin ay nais agad yumaman sa napakadaling paraan kaya naman palagi tayong biktima ng mga scams na ginagamit ang cryptocurrency, isa yan sa rason kung bakit siguro hindi pa rin tinatangkilik ng ating gobyerno ang cryptocurrency hanggang ngayon. Imbes kasi na magself study ang iba sa ating kabayan about cryptocurrency eh mas pinipili pa rin nilang magrisk sa mga "gusto mo bang kumita ng pera kahit natutulog ka?" kind of scams.
2591  Economy / Trading Discussion / Re: is crypto trading different from forex trading. on: November 27, 2021, 02:14:59 PM
The technical analysis are just the same, however, the volatility is not. Trading in cryptocurrency has more risk than trading in forex (depends on how much risk you put in forex though). For me, it's more fun trading in cryptocurrency and easier to familiarize than in the real currency we have in the whole globe. Profits is better also in cryptocurrency, trading platforms in cryptocurrency is much better as well compare to forex.
2592  Economy / Trading Discussion / Re: Can you make money day trading Bitcoin? on: November 27, 2021, 01:26:42 PM
Day trading is not a good idea, especially if you're a beginner. It requires a lot of time, efforts, and a good amount of knowledge when it comes to market movements, because that's where you'll get your profits within the day. In short, day trading is buying and selling a certain stock or coin before the market closes within the day, in cryptocurrency, you have to sell it before it dumps again.

To simplify it, you need to take advantage even on the small amount of volatility that a certain stock or a coin makes in a day.
2593  Economy / Trading Discussion / Re: Take stock or hodl ? on: November 27, 2021, 12:34:39 PM
Option #1 is good, if you actually manage to time the markets well. In which, a huge majority of people simply cant. Most people are better off just holding. A lot of people could have more bitcoin right now if they simply just held, and not try to sell the top and buy the bottom.

I totally agree.

The more bitcoin and ethereum you own, the more profits you could make in the next all time high, wait for the dip and buy the dip again. But of course it is important to always do some technical analysis before entering a trade to maximize the profits you could make. On the other side, holding is still a good idea but it only applies to bigger coins since some Altcoins can't pump again that big after the dump.
2594  Economy / Gambling / Re: betfair and excluded countries on: November 27, 2021, 12:12:08 PM
Can you bypass the restrictions through VPN, pretty sure that you can probably find a workaround to help you with your problem, find solutions first before ranting about stuff, it won't get you anywhere.

While VPN is a useful thing to access casino websites because of imposed restrictions, I don't think using VPN is a good idea. Websites have their own terms and conditions and most of the time, casino sites don't really permit the usage of VPN. I suggest you read everything that is written in the terms of service of the site before doing anything to assure that you won't be get in trouble later on. If using a VPN isn't counted as an illegal activity, then you can browse for different options of VPNs that would suit your preferences. Otherwise, just don't try it because you might get caught and be punished and fined because some countries have laws regarding that matter.

If a trouble continue to persists, then you better just move on and find another casino that would cater your needs. You see, there are some problems that casinos encounter and most of the time their resolution is to impose banning so that their company's welfare won't be compromised with the protocols set by the state.
2595  Economy / Gambling discussion / Re: Share your betslip here and inspired the gambling community. on: November 27, 2021, 09:41:58 AM
Being an active member who usually visits and posts on gambling boards, I can help but notice posts related to "gambling addiction" which results in deeper problems, so I'm thinking, how about let's share some positive vibes by sharing our winning bet slips here so they will also think that we can actually win in gambling.

I suggest that you share your personal betslip and maybe put some remarks/explanation on how and when you won it, that way you can always come back here and reminisce about our success in this long journey.

Don't get me wrong, I know the objective of this thread is to show positivity for those gamblers who are losing hope because of losestreak. However, I don't think sharing someone's payslip would actually motivate and assure winning for others as well. Despite having good goal, this could lead to something bad such as encouraging those people without knowledge to gamble as well because they have seen how good and big money there is in gambling. Which in fact, it is not true all the time because as we all know, gambling is a risk. It's not always a good day. There would always be bad day. And if someone happens to have no control, that could lead to having so much losses instead of wins.

Sharing can have both positive and negative impact to someone. I know that is beyond our control, but let's also be sensitive in posting. As much as you can, please put a caption saying what it took you to win such amount in gambling. State both the struggles and the victory so that people would be aware of the two side of gambling world.
2596  Economy / Gambling discussion / Re: government's traditional laws can't handle Gambling+cryptos on: November 26, 2021, 02:52:46 PM
As much as most governments want to have everything under their control in the interest of its citizens, I think if they didn't take an interest in them around 2009 to be in the know... its difficult to really catch on now and impose regulatory frameworks on crypto users+gamblers when most of them have gotten used to not having them in the first place. Its pretty much self regulatory now, but they best they could start with is as all crypto service providers to register with them and show citizens the business is a registered and regulated one.

This would be a problem for them especially if the owner of the cryptocurrency gambling site won't show himself to the public and get a license for legal purposes to continue their business. So the only thing that the Government could do to pursue such owner is too put effort on tracking them to expose their identity. But since cryptocurrency gambling sites is no big deal for now in some countries, Government are just ignoring them and solely focuses on physical casinos.
2597  Economy / Trading Discussion / Re: Basic Types of Trading on: November 26, 2021, 12:20:46 PM
For newbies, spot trading will be a better type of trading as they do not have to worry about the price and as long as they can hold the coin and not sell at a low price, they will have a chance to sell at the next high price.

Future and margin trading will not suit newbies, especially if they do not have much knowledge in analyzing the market and they will panic to see the price is down for a little.

While in spot trading, you are not actually losing if you do not sell your coin, in the future and margin trading, you can lose all of your funds if you do not close your trade.

Be careful deciding which types of trading you want and I suggest using spot trading while learning more about trading.

Trading in futures for newbies will never be profitable, this is the easiest way how to throw away your money in an instant, unless you have someone that is giving you free signals on what coin you will enter a trade on a certain price and exit the market on a certain price, then that's a different situation. However, if a person is entirely exploring how futures trading work, he is only gonna lose his money while being frustrated on figuring out how to chase his losses.
2598  Economy / Gambling discussion / Re: Facts about gambling addiction on: November 26, 2021, 11:42:01 AM
It's interesting that the article didn't mention things like the financial situation of gamblers and even race. When I am in Germany either for holiday or work and I meet up with a few friends, we sometimes visit a few sportsbooks because one of my friends gambles on sports on a daily basis. I often look at the people inside and I notice that almost all of them are foreigners. Germans are nowhere to be found in German sportsbooks. The majority of the gamblers are Africans, ex-Yugoslavia, Turks, and Italians (if we go to one specific shop located in a part of the town where the majority of the population is from Italy). Alcohol, cigarettes, and even marihuana can often be smelled in close vicinity to the shops.   

I think they are just trying to be more in general, no race or financial status was mentioned because I think that it doesn't matter when it comes to gambling addiction since it was stated that your emotion is the one who is responsible for the rest of your addiction, no matter how much you lose in gambling, no matter what race or how rich you are, in my opinion.

But it's true that it is common in casinos to see gambler who smoke and drink while they are playing. For sure some VIP(s) are doing drugs as well since they could ask for protection from the casino using their wealth.
2599  Economy / Gambling discussion / Re: Facts about gambling addiction on: November 26, 2021, 06:06:19 AM
the conclusion from the data above is that it is better to never touch gambling because anyone will find it difficult to get away from gambling even though they have emotional or intellectual intelligence.  if i could go back in time then it would be better if i never played gambling because honestly it's really hard to resist the attraction of gambling because i'm used to it  Cheesy

Correct.

I was surprised when I found out on this article that the reason behind gambling addiction is "emotion" not because by peer pressure or wanted to earn profits to aid financial problem etc, just emotion. So I would just add that every person could be a target by their emotional needs to ease their boredom or to have some entertainment. It's really scary to found out the harm that can cause to people by gambling addiction.

It's no joke.
2600  Economy / Gambling discussion / Facts about gambling addiction on: November 26, 2021, 05:28:39 AM
These are some interesting facts that you might don't know until now. I've stumbled upon this ARTICLE since I'm always curious what's the real reason why people are getting addicted to gambling, and here is why:

1.Gambling is a BILLION dollar industry. In America, gambling has become a $40 billion dollar a year industry. Las Vegas alone brings in close to 10 billion dollars a year from people gambling at their casinos and placing bets.

2. It is common for people to blame certain types of gambling methods, such as lotteries, casinos, and racetracks for causing compulsive gambling, but gambling problems are not caused from gambling being easily attainable, they are caused from a person’s inability to control their gambling habits. There are far more people who gamble on occasion than there are people who are compulsive gamblers.

3. It has been estimated that around 80 percent of the US population has gambled in their lifetime. Gambling can be done in various different ways and therefore is easy for people to access.
4. Pathological gamblers are significantly more likely to have mental health disorders and/or substance use disorders.

5. A research study found that 75% of gamblers had an alcohol disorder, 38% had a drug use disorder, and 60% were nicotine dependent.

6. 50% of gamblers have experienced a mood disorder, 41.3% had experienced an anxiety disorder, and 60.8% had experienced a personality disorder.

7. Men are more likely to develop a gambling problem than women.

8. It is estimated that three to four percent of the American population has a gambling problem; this is approximately between six to eight million people.

9. The last gambling addiction fact to remember is that compulsive gambling does not mean that you are a weak person. Many people who have become problem gamblers are very successful and are seen by others as strong and intelligent people.
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