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2741  Economy / Economics / Re: thoughts on companies becoming too powerful? on: August 06, 2019, 06:51:56 PM
Well speaking in this context, I would say that more than 80% of the whole world’s wealth is with few people ruling these companies and this is one reason of the huge income gap. You need to have policies that implies progressive taxation as a result of which the money that is generated by these companies will be taxed. Facebook creates more than $10 million per minute. This is a whopping amount that could be used to alleviate poverty in the locality

If things were that easy

You can't alleviate poverty by giving out money as that will only make the situation with poverty worse. In fact, it will only aggravate it dramatically. The companies don't sit on their wealth as many seem to implicitly assume. All this wealth exists in the form of capital which creates added value, and that makes people's lives better. Now you basically suggest to take part of this newly created value and redistribute it in some way. Sounds familiar, huh? If not, what makes you think that this redistribution is actually going to help people or help them better if it didn't happen and companies would be free to use all of their income as they see most appropriate (read, most effective)?
2742  Economy / Economics / Re: thoughts on companies becoming too powerful? on: August 06, 2019, 05:09:22 PM
You can always try to do something about it instead of complaining about how the rich elite only get richer and governments only work against you. Complaining doesn't increase your wealth, becoming an entrepreneur does.

An uncle of mine complains about this all the time, and this for years now. No matter how much I try to convince him to get off his lazy ass, he still thinks that the rich elite and governments should make an effort to change things.

We have decades of history proving that the elite will not hand you over free money, and governments will not do anything to change either. It's YOU that needs to change, not the rich elite or governments. This is how the poor stays poor.

You fail to realize that the system is totally broken.  Hard work isn't going to magically lift you out of poverty.  You need solid connections that poor people usually do not have.  Becoming an entrepreneur just means exploiting workers like the rest of capitalists do and then you are contributing to the problem

Things are a bit different in this day and age. Your assumption would be 100% correct for the pre-Internet era, but today it is a completely different story. As even this forum clearly shows, you can foster useful connections and build solid reputation from ground up without having to be born into wealth

This is in striking contrast with what we had before the Internet came when you really couldn't lift yourself out of poverty if you didn't have proper connections which you obviously hadn't for being born into poverty. Though I agree that you should rather work smart instead of working hard (that kinda goes without saying)

But isn't it exactly what the Internet is about, i.e. about being smart?
2743  Economy / Gambling / Re: WOLF.BET - Provably fair dice game Free faucet 7-day streak bonus on: August 06, 2019, 03:31:29 PM
@deisik Please check the autobet mode right now, should be much better!

Okay, I've been testing Autobet for about an hour, and I can confirm that it no longer freezes (as before). But the experience is still far from perfect as the overall behavior feels somewhat erratic after running Autobet for a while, with the visual elements seemingly not following actual rolls on time. Personally, that's fine with me as I'm running Autobet in the background anyway, and as long as it doesn't hog CPU, it is no bother to me (mostly because I prefer faster rolls with less visual animation). But for some it may be unacceptable

I think you can add the speed slider for the autobet mode with the range like 1-3 rolls per second
2744  Economy / Gambling / Re: WOLF.BET - Provably fair dice game Free faucet 7-day streak bonus on: August 06, 2019, 02:27:42 PM
Hi, I have some issues with Autobet at wolf.bet

I've been running Autobet for around a couple of weeks with free doges, and now this feature seems to have stopped working properly. It starts to run as smooth as it should, but after some time it almost freezes with very ragged performance and uncomfortable experience until finally I can't even open a browser tab with wolf.bet in it

I'm mostly using Opera on Linux but I also tried other browsers (Firefox and Chrome, to be exact) and even different operating systems (Windows 7, more specifically), and I can say that the problem persists and it is on the server side. Maybe, it is a little too many people autobetting like me there. Technically, Autobet is not very usable at the moment
Looks like the autobet issues is fixed, I just tried Autobet and it's working. It's just that when I play auto the site becomes lag I don't know if this comes from my browser or PC but every time I move to another tab and return to the site of wolf bet it's becomes a blue screen about 5-10 seconds back to normal. I'm using chrome browser with latest version

That's exactly my story

Autobet is in fact working but not for long. After some time its tab in the browser starts eating CPU cycles hungrily, and watching rolls becomes a nuisance really so that I have to close the tab and then reopen it (and restart Autobet). As it also lags for you, we can safely conclude it's the site's issue. I haven't seen the rep here for a while, so is this thread followed? I hope the issue with Autobet will get fixed soon (just in case, my account name with the casino is same as here). I'm particularly curious how long it will take till I finally bust with my "custom" martingale setup

Is this the official Wolf.bet dice website, this one: ( https://wolf.bet/ ) let me know if it's true

I guess you can check it out in the opening post
2745  Economy / Trading Discussion / Re: Keep proper distance but not losing passion on: August 06, 2019, 01:34:23 PM
I think the difference here is one is talking about not trading during crazy times of crypto world itself and one talks about not trading during your best hours. Sometimes, people are not on their best case mentally, you might be tired, you might be angry at something, basically you might be either emotionally or physically in best shape and that means you are not in the best time of your life to trade, trades during those times usually end up being filled with emotions and result with bad results

One shouldn't let external emotions affect his trading, be they good or bad

It is a lot easier when you follow a certain strategy as in that case you can bravely ignore bad or good moods, dangers as well as pleasures, and do your thing (in this case trading) as good as ever. Otherwise, your trades will still be negatively affected regardless of your mental state, whether you are in a good mood or shape. Your "best time" may easily turn out overconfidence, resulting in as bad results (if not worse at all)
2746  Bitcoin / Press / Re: [2019-07-24] Circle and Poloniex moving from the US, regulatory uncertainty on: August 06, 2019, 12:03:00 PM
Can you imagine what would happen if a large company like Coinbase or Overstock would make the same decision now? Donald Trump is saying he wants to protect local jobs and create new job opportunities, but he smack tweets Bitcoin and in doing this, chase away legitimate companies that wants to operate legally in the US

Don't take the words of Trump and his likes at their face value

Today they can say one thing and tomorrow they say the exact opposite like they have always said (and thought) so. These people don't give a slightest fuck about Bitcoin (and most other things, for that matter) as they are only interested in gaining more power (and not losing it in the process). In case of Trump specifically, he is going to run for POTUS next year, so anything he says (and more importantly, what he does) should be considered from this angle

Regarding the questions raised in the OP, cryptocurrency operations are not bound to any specific area (apart from their client base), so if it means moving out of the US jurisdiction, they will do that without any second thought. Technically, the American government is shooting themselves in the foot with such acts, but more power to them if they choose so. Really, who are we to stop them and why? Let them dig their own grave
2747  Economy / Gambling discussion / Re: Anyone here have some strategy to gain money, but with low profits daily? on: August 06, 2019, 10:36:34 AM
If the aim is to earn low profits daily, gambling is the least suitable tool for achieving that. Nevertheless, if one finds it entertaining, why not to try? After all, any strategy can fail at some point, and the strategy when you earn each day 1% of your balance is no different. There is a possibility of it working for years, and surely you will not lose your balance faster than in 100 days while strictly following this strategy

1% daily is actually a huge amount

For starters, that is 30% monthly (without compounding). If it was in fact possible to earn so much without busting in less than no time, casinos would be ruined as quick (as there would be no lack of people trying to exploit this strategy). The truth is, if you are going for that target, your bets will be risky as hell, and the possibility of running it for years is really minuscule. More likely, you are going to lose your balance in a couple of weeks if not days

We all know that only half of those bets are going to be winning ones, so no one is expecting 30% monthly profit.  Most likely, you will lose 16 bets and win 15 because of the house edge. Regarding the time span within which you can lose your balance, it can't be a couple of weeks or days. It is around 100 days if you risk not more than 1% of your balance each time

It seems there is some misunderstanding here

I just reread the opening post, and OP obviously refers to martingale with presumably safe settings allowing for very long losing streaks. His idea consists in earning 1% daily through a number of bets and then stopping till the next day. So it is definitely not about risking 1% of his balance as he is in fact risking his whole balance at each bet. I'd venture to say that his idea is quite feasible conceptually but the catch is that he can't go for 1% daily and not lose his balance pretty fast (in a matter of days). Technically, it is a losing strategy with so high a daily target

As far as I understand, we are talking about betting 1% of your balance with 50% win chance, once per day. It is hard to expect 30 wins in a row on 50% win chance, and if you make just one bet per day, it makes no difference, it is still very unlikely. Overall, this strategy can hardly help you to earn money, but  it can surely help you to last longer with the balance you have.

It is about martingale which assumes a lot of bets till you hit your daily target (1% in this case)
2748  Economy / Gambling / Re: WOLF.BET - Provably fair dice game Free faucet 7-day streak bonus on: August 06, 2019, 09:44:00 AM
Hi, I have some issues with Autobet at wolf.bet

I've been running Autobet for around a couple of weeks with free doges, and now this feature seems to have stopped working properly. It starts to run as smooth as it should, but after some time it almost freezes with very ragged performance and uncomfortable experience until finally I can't even open a browser tab with wolf.bet in it

I'm mostly using Opera on Linux but I also tried other browsers (Firefox and Chrome, to be exact) and even different operating systems (Windows 7, more specifically), and I can say that the problem persists and it is on the server side. Maybe, it is a little too many people autobetting like me there. Technically, Autobet is not very usable at the moment
2749  Economy / Gambling discussion / Re: Martingale revisited on: August 06, 2019, 08:31:53 AM
Well, but this is not entirely his fault, because it is difficult for humans to hold back their emotions when experiencing successive losses. They will always catch up even though they have passed what he is able to bet. This is natural and often happens to me when experiencing losses in a row.
How is it not his fault? He made a bad decision and he regrets it. Simple as that. I did the same in the past and I am not afraid to admit it. Majority cannot hold back as you stated, but the winners are the ones who can control themselves in such situations and make sensible decisions

It is just human nature

No one should in fact be surprised at this or go too harsh on other people in such cases and under such circumstances. People rarely admit to owning their mistakes. They simply can't come to terms with the fact that most of their problems actually stem from their own bad behavior and misjudged actions. So they have to find someone or something to blame (e.g. their emotions or whatever). But there's an interesting consequence or sequel to refusing to own up one's mistakes and misdeeds. Ironically, refusing to accept responsibility for one's actions leads to making the same mistakes over and over again. In gambling (as well as in trading), it means losing money until there's nothing to lose

It comes down to your own individual decisions at the end of the day. This is why I like to behave like a robot when making these decisions so that the emotional impact is low

If it works for you, go for it. But a better alternative is to harness the power of your emotions and channel their energy in the direction of your conscious and deliberate choice. Thus, you will get more for a buck of your time and effort
2750  Economy / Services / Re: [OPEN] WOLF.BET Signature Campaign - Hero/Legendary - Up to 0.01BTC/week! on: August 06, 2019, 07:47:09 AM
Hello Zwei,
These days, lots of new and old posts are getting deleted. So, I like to request you to consider the posts made on last 7 days (at the time of counting) rather than just going by starting and ending post counts. Thank you

In most cases that has nothing to do with posts deleted

It is a well-known forum bug which has existed there since times immemorial. The forum engine re-counts posts every few weeks, and if there are some discrepancies in your post count (e.g. it can actually show more posts than you have made), they get fixed. So it may look like some of your posts got deleted while none in fact were. Your post count was just incorrect for some time (probably greater than it should have been)

All this campaign sounds fishy and the website looks suspicious.

What is suspicious about this casino? It is obviously a new kid on the block and let's hope it will evolve into a bigger project with time
2751  Economy / Gambling discussion / Re: Martingale revisited on: August 05, 2019, 07:13:38 PM
Since you are not sure, I think I should make you understand. You don’t have to be a professional before making money in gambling, irrespective of the game or the type of player, everyone deserves to make money no matter how small it maybe because right from when I was small and I knew how we played games, the aim was to make money.

The best is to understand that it is possible to play games without using strategies and yet make money, I feel strategies is really the problem with gambling and again, it is highly important to overcome greed since this is one thing that prevents gamblers from being successful but making money is definitely not restricted to professional gamblers alone

You seem to be missing my point

Basically, there are two types of games. The first type, which is properly and rightfully referred to as gambling, involves only luck. In this type of the game, it is impossible to win if only through luck, but the longer you play, the higher are your odds of losing all simple because the house edge starts to prevail over luck. Indeed you can use martingale in the way described in this thread but most casinos won't let you do that thing as they are no fools, so we are back to square one, i.e. losing eventually

The second type of games, which poker is the most well-known example of, involves both luck and skill. You can't change your luck as it is beyond your powers and control (since otherwise it wouldn't be luck), but you can develop your skills and through that change the odds in your favor. It is the lack of enough skill that prevents people who are playing this kind of games from being successful. So with these games it is your knowledge and expertise combined that determine your success, but these are also what turns you into a pro
2752  Economy / Trading Discussion / Re: How to Prevent been a crypto addict. on: August 05, 2019, 06:04:19 PM
In line with that statement, it doesn't matter to me if I will be addicted to crypto as long as I would be benefited despite of being addicted. Being driven out by cryptocurrency, our addiction isn't associated to health problems but rather problems is how you handle your funds when you became wealthy in the end.


This is the real opposite of gambling addiction. If you are an addict gambler, you will more tend to lose money unlike a crypto addict which focuses more on how to earn rather than how to spend by a mere entertainment. If i could choose an addiction, i would choose the first option too.
It is not even possible to me that someone will get addicted to cryptocurrency because there is nothing to get addicted to there, if op is glued to his trading platform, or glued to seeking information on the system, he is only dancing himself through that and I see nothing absolutely addictive about that

Purely physiologically, it is six of one and half a dozen of the other

That is, it is the same thing under different names and conventions. When you gamble, you become addicted to it because the process becomes a form of a powerful drug. You feel euphoric and ecstatic, for some time. When you are deprived of it, you feel typical withdrawal symptoms and want a new dose, time and again. In this manner, you can get addicted to trading in essentially the same way as you get addicted to gambling. And while we are at it, the process is very much like love, with the bottom line being that anything can potentially become an addictive agent if it can work as a mighty stimulator for both your brain and your body
2753  Economy / Speculation / Re: Bitcoin Dominance rising again. What is happening? on: August 05, 2019, 04:59:09 PM
Little update.

Today Litecoin Halved.
A lot of hope was put in this event, but, as I predicted many times, nothing happened, as halving on LTC is meaningless, as SF model in LTC has very little correlation with price

It is not so much an event as a process, which will take time to develop

Though I understand that a 15% rise within a few hours is nothing out of the ordinary. Regardless, the reward has been halved and now we just have to wait patiently for a few months to see whether Litecoin halving is meaningless or not for its price. However, to claim that it won't have any effect on price is equal to claiming that supply doesn't affect it. For what it's worth, I don't think this is a valid assumption. But let's wait and see
2754  Economy / Gambling discussion / Re: Martingale revisited on: August 05, 2019, 12:40:53 PM
You can imagine that I played a game with $1000 dollars just yesterday and it all went down within few hours on the site, not even a dime left and nothing won back in return. I feel very hurt and am just at the edge of quitting the game.
Invest only what you are willing to lose. Why would you gamble with such a big amount if you were afraid of losing it? Betting small amounts on accumulators regularly would have been more ideal in this case.

As gambling should be considered not a source of income (apart from professional poker players and their likes) but a form of entertainment and amusement only. But we still can't discard those who play rare but always big time. If they lose after a few bets, they leave. If they win, they take the spoil and instantly leave as well
Not just professional poker players though. There are blackjack card counters out there who make a killing even now. There are many other strategies too(Arbitrage betting, taking advantage of a biased roulette wheel etc) which actually give players the edge

In fact, I don't doubt there are a lot of games involving not just luck alone but a certain set of skills as well

As this is what I meant by professional poker players and their likes. I don't know what these likes might be, but I know it for certain that you can beat the odds in some games and activities (like sports betting). This essentially means your result depends not only on luck but also on your skill which you can develop given enough time and practice. Poker just happens to be one of the most familiar and well-known examples of this kind
2755  Economy / Economics / Re: What are some not so obvious things that damage a country's economy? on: August 05, 2019, 10:37:35 AM
You just named a thing that mostly responsible for health problems in the modern world, and I bet it is not so obvious for many people that it damages any country's economy. Lack of physical activity wasn't such a problem a century ago, but in today's world it's a major one

And what should we do with that?

And should we actually do anything? I agree with the assumption that the lack of physical activity is likely a major contributing factor to poor health later in life as I see my classmates getting weight and bellies because they don't walk but mostly prefer to drive. You can't force them to take care of their health until it is too late and the damage is done. But we can look at it as a kind of natural selection, so if you stay slim and fit (or slim fit), you may get a competitive advantage later on in life

Economically speaking, we would hardly gain from a situation when hundreds of millions of people around the world found themselves in a bad health condition. Besides, natural selection doesn't work the way you described. Our genus, Homo, evolved from ape due to natural selection, but it took millions of years. Today, if other people die because of poor health during our lifetime, it's not natural selection, it's just death, and it's not advantageous for any human on Earth

Well, I can't say I'm fluent on how natural selection in particular and evolution in general work

And yes, I generally agree that from an economic point of view being healthy and motivated is better than ill and depressed. That goes without saying. However, death itself is actually an indispensable tool that evolution created as a way of getting rid of those who aren't of any use to it anymore (thereby freeing resources for those who are)

Note that I don't say whether it is right or wrong as the idea of righteousness simply doesn't belong here (only fitness and procreation reign supreme). Further, that was not actually my point. I meant you could look at it in a more personalized sort of natural selection. If your buddies don't care about their health, look at it as your advantage if you do
2756  Economy / Economics / Re: How many months left until recession? on: August 05, 2019, 09:08:35 AM
That's a good topic you raised there. Trump wanted to reduce the interest rates and as I know Fed did it a couple of days ago. But if you think about it, BTC was made especially for times like crisis. How will it meet the crisis, no one knows. It was created after the crisis of 2008. But will people really store their money in Bitcoin if the economy will fall? I doubt they will. Probably it will be USD, CHF, and JPY as always

It is unlikely Bitcoin is going to prosper in an all-out economic crisis or even meltdown

It is an effective hedge against minor currency devaluations in not so important countries (think Venezuela here), but if the major economies like those of the US, EU and China are going to suffer in a major way (and probably crash one after another in a domino-like sequence), all speculative assets will invariably hit the canvas. In such tumultuous times investors always move their capital to less risky assets (and Bitcoin is not one of them)

I don't think those economies will collapse. There will be some recession but not a collapse. Safe haven currency and treasuries will be the best things to store your money in, I believe

I don't particularly believe in that myself

But did anyone believe in the WWI on the eve of it? No one actually did or wanted that war (well, mostly) but it still happened. I mean things may escalate quickly and get out of control pretty fast. But even if major economies just go deep into recession in a semi-controllable way, the rest of the world will be writhing in pain and agony, as always. How and to what degree Bitcoin will be affected is largely unknown as we haven't yet been there. We have yet to find out how things are going to play out with cryptocurrencies if a new 2008 is to come
2757  Economy / Gambling discussion / Re: Anyone here have some strategy to gain money, but with low profits daily? on: August 05, 2019, 07:17:54 AM
If the aim is to earn low profits daily, gambling is the least suitable tool for achieving that. Nevertheless, if one finds it entertaining, why not to try? After all, any strategy can fail at some point, and the strategy when you earn each day 1% of your balance is no different. There is a possibility of it working for years, and surely you will not lose your balance faster than in 100 days while strictly following this strategy

1% daily is actually a huge amount

For starters, that is 30% monthly (without compounding). If it was in fact possible to earn so much without busting in less than no time, casinos would be ruined as quick (as there would be no lack of people trying to exploit this strategy). The truth is, if you are going for that target, your bets will be risky as hell, and the possibility of running it for years is really minuscule. More likely, you are going to lose your balance in a couple of weeks if not days
2758  Economy / Economics / Re: On Bitcoin and old-timers on: August 04, 2019, 07:39:09 PM
And yeah, probably the same story about old timers, but it's that longing for better times (perceived, never mind if actually true) that motivates them to bring something better, something new. Or is it? What Bitcoin promised -- and maybe to some extent, is delivering -- wasn't really ever something we had before

But that's the thing with the older generation

They want all the credit for what the younger generation is currently using (pretty much like "new timers merely find ways to innovate on tech"). But how much these old-timers actually did and how much the new-timers don't? Such story is truly lost in centuries as all generations contribute more or less equally to the progress, while each one pretending to be the most helpful and valuable since the beginning of times, ever. In reality, though, there's no one particular generation that did all the dirty job for the entire history of humankind

So, hey, got to credit the old timers for solving one of the oldest problems of trust!

They were standing on the shoulders of giants
2759  Economy / Economics / Re: Can Libra Disrupt The Financial/Economic System? on: August 04, 2019, 06:12:14 PM
Well, when 2.32 Billion active users start using a new currency, then I would think that it would tip the balance on global fiat currencies.  Roll Eyes  Capital control would be a nightmare for smaller economies and the US Dollar as a global reserve currency, would definitely get tough competition

I'm not sure there are so many active Facebook users

This figure is greatly exaggerated, while the real number is likely closer to a few hundred million users throughout the world. And I'm not sure about the world either as in many countries there are much better alternatives to Facebook (like VKontakte in Russia and Russian-speaking countries)

Regardless, we will likely see a few million Libra users at most, most of which will be amused and somewhat interested cryptocurrency users looking into this thing out of idle interest (and a quick buck profit opportunity). It took Bitcoin long 4 years to get some traction, so I wouldn't expect too much from this wannabe fiat killer

I think Libra will be canned before it even started, due to government presure

I think the whole shebang is fake through and through
2760  Economy / Speculation / Re: What the Effing Hell is Going On!?!?! on: August 04, 2019, 04:44:43 PM
Well it failed to pass 9000 in any good attempt, its risen from that lack of challenge to the lows.   Now I have to at least consider the oppisite that Bitcoin can then retest the highs.   I dont personally favour this, I think this is a weak rally but on a daily chart it may have beaten a negative trend speculating since the 13k high

That reminds me of early 2017

At first Bitcoin was able to crash below 900 dollars (yes, such were prices back in the day) on rumors of the Chinese Central bank banning Bitcoin (it was likely the first time that rumor emerged). Then the price quickly recovered and went above 1k again. After that, there were a few occasions when Bitcoin closed just short of 900 dollars all over again but never actually went below that mark. Now we see that the history repeats itself, though on an entirely new level of prices. So let's hope that 9k will turn out as impenetrable as 900 dollars had been two and a half years ago as we all know what happened soon thereafter
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