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2741  Alternate cryptocurrencies / Marketplace (Altcoins) / Re: there is no Play-to-Earn Game on: February 13, 2022, 07:36:51 PM
As of this writing there is no play-to-earn games exist in the market. You must be saying Axie Infinity is one play to earn game and there are many more, but i will tell you that they are not play-to-earn games, they are infact play-to-earn jobs.  Roll Eyes

Taking the example of Axie Infinity, you get game token SLPs when you do certain tasks in adventure mode and also complete daily tasks. This is like a job that you do daily and the maximum earning limited on daily is also fixed. You are allowed to take 20 turns and after that even if you play more, there is no reward. You are in fact doing job to collect the tokens.

Real games are like you play unlimited times daily and there should be no limit on the earnings or turns. The more you play and win, the more you should get the tokens. This realistic model of earning is missing in all the famous P2E games like Axie infinity or star sharks etc.

I wouldn't necessarily say that these games are "a job", they do have an entertainment factor that may not be present when you're working and it is optional which games you want to play. You can look at it in a different way as well, as some games allow you to play and unlock rewards (look at World of Tanks) for example - you might choose to pay $50 upfront to unlock a tank but most of the time you are able to "grind" your way up through the levels to unlock them. This is a sort of useful hybrid model that should be adopted for every game and is probably highly profitable for the gaming studio that runs it. They retain free players and allow people who have lots of money to jump as high up as they want instantly.
2742  Bitcoin / Bitcoin Discussion / Re: Crypto Companies' Super Bowl Advert is Good news for Cryptocurrencies. on: February 13, 2022, 06:55:48 PM
For the first time the Super Bowl which is the biggest game of the year will feature ads from crytocurrency companies. Multiple 30-second ads would cost a whopping 7 million Dollars per slot. Companies like FXT, Crypto.com, Etoro and BitBuy have joined in the multimillion dollar ads spending spree. The fact is that this spending is not in vain.

Advert in Super Bowl gives companies a unique opportunity to express the unseen side of its brand. 80% of Americans have heard about cryptocurrencies but only 16% have used them. The Super Bowl is a great opportunity to earn new customer and build awareness.

The Super Bowl is a vital medium for over 111.9 million viewers to see the profitability and viability of cryptocurrencies. It would also show the world that crytocompanies  can be followed and trusted.

A good advert can earn crytofirms a social media share and increase its social media influence when it goes viral.

Super Bowl ads can spur large revenue and volume like in the case of Budweiser that earned $96 million after advertising on the Super Bowl. Wix revenue increased from $200 million to $204 million in 2015 after its ads in Super Bowl. A research by Fluent, Inc. last year showed that new brands that advertised in the game saw an increase in brand awareness by 36.5% and the lowest was 8.7%

But Stanford Research warned that these Super Bowl ads are not effective when two brands of the same product or service are both advertised during the game. They started that although Super Bowl ads can lead to large increase in revenue and volume, but when two major competing brands advertise, most gains are lost.

It's very interesting to see so many advertisers in one sector at the Super Bowl, you can only come to one conclusion - they are absolutely rolling in money. That money is primarily coming from one place - a small cut of every transaction, either paid in fiat or crypto. It's surprising to see that fees are still so high at some places like Coinbase when they could be much lower and I wonder if there is any sort of collusion on setting minimum fees to help keep the market up. I know at places like localbitcoins.com that there are hardly any intermediary fees, so it's definitely possible to drop them a lot more. It's comforting to know that with so many competing ads in the same sector they are making the adverts less impactful according to your last point - you learn something new every day.
2743  Economy / Economics / Re: Gambling with China and US on: February 13, 2022, 05:18:48 PM
Recently the US Secretary of State zoomed to Fiji Island to have discussion with Pacific Island Leaders. The last time such visit happened was 37 years ago. His sole aim is to counter China's influence in that region.

America and the "Quad" are scared that China's aggressive business partnership, infrastructural loans and politically interference in the Pacific will make them loose a strategic partner.

The leaders of the Pacific should cease this opportunity and get the best economic deal. Since both China and US wants their partnership, these leader should consider the offers from both parties and secure the best deal. I am sure the Chinese would visit immediately after the American Secretary leaves the Pacific.

So.. the US is scared because they're visiting Fiji, and you're saying the Chinese should visit after.. because they're scared of losing Fiji? Not much sense to your ramblings. We live in an ever changing world where every country is trying to buy and trade influence, it is only relatively recently that China has turned into the world's factory and earned enough money to be able to offer other countries much in return. For many years they were solely focused inwards and had many troublesome policies that caused their own people immeasurable harm. China was doing much better before Xi Jinping came along and seems to be closing back up in some respects, they're getting more repressive and certainly don't look like a healthy partner if you like freedom, they also struggle to take criticism very well.
2744  Economy / Gambling discussion / Re: Why a single bet is better than a multi bet. on: February 13, 2022, 05:07:21 PM
Yeah, it does tend to pay out once in a while. That's what gets people hooked.
It was that one time I was able to win a multi having 8 selections. Other than this I think I have lost so many bets (including multi) that if I try to find the profit and loss then the loss part will be massive. The frustration with multi you feel most of the time when you miss a long list by only one or two wrong selections. If I remember correctly then I lost a 20 selection for 1 wrong pick and another time it was a 15 selection for 1 wrong pick. The numbers (losing slip) for 7 to 8 selections are used to happened every week.

For the record I am not gambling from over 6 months or more now. I don't feel like gambling anymore to be honest.

Congrats on staying away from it, many people grow out of it over time or begin to see the futility in it - casinos are not built on money paid out to winners after all. There is a company called "PaddyPower" that offers a promotion called "Beat The Drop" and they will give you a chance to win 250k if you can predict 20 results correctly. Even when I pick the clear favorites, it can be hard to progress past 3-4 wins on a row which just shows how difficult it can be to accurately predict a multi-leg outcome. For anyone doing betting long term, trying to make a return off of it, they would be much wiser to stick with single bets all the time if their picking skills are solid.
2745  Economy / Gambling discussion / Re: Drake Wagered $1.3 million in super bowl bet using bitcoin on: February 13, 2022, 10:26:51 AM
It's been a big trend on social media since the Canadian shared his bet slips containing how much he staked on the super bowl in bitcoin. And how much he will receive in bitcoin if the Rams defeat the Cincinnati Bengals in Los Angeles, which is about $2.29 million in bitcoin. The betting industry has a great acceptance of bitcoin. He made other stakes using bitcoin as well. But, what matters is how more celebrities with big fan Bases promote bitcoin. It's such a better way of increasing the usage of bitcoin in Betting Firms.

Source:
https://nypost.com/2022/02/11/drake-lays-down-1-3-million-bitcoin-bet-on-rams/

This strikes me as one of those cases where it is essentially undisclosed advertising. I'm not sure whether Drake has any sort of declared relationship with Stake.com or explicitly tags his posts as adverts, but I am assuming not. However it strikes me as, even with all his existing wealth, possible that he may have an undeclared agreement to do this sort of advertising - especially with just how prominent Stake is on that little snippet (regardless of whether that is a standard betting slip layout, it is perfectly engineered to display their site dead center). He could have just come out and said "I've placed this bet" and his fans would believe it, to go the extra mile and post the betslip from a specific site is really sneaky and some people are maybe not too responsible with how they release information to fans.
2746  Bitcoin / Bitcoin Discussion / Re: Am I the only one who loves BTC but hates the Metaverse idea and the NFTs? on: February 12, 2022, 09:22:00 AM
I don't find any real usability for this Metaverse: actually I think it will only make people and society dumber and closer to the Idiocracy movie. Spending time online wearing some stupid glasses it's a no no for me. Also the NFTs are a waste of time and money, I wouldn't buy useless digital shoes and buildings. I love BTC and have diamond hands but these 2 things I'm not a fan of and I know I will never be. Society needs to become wiser not dumber. Living in a digital realm sucks, I'm a human being not a stupid machine. Rant over.

You're definitely not the only one that has thing opinion. The Metaverse aka controlling a virtual avatar in a 3d world seems to be a perpetual idea that gets re-imagined every ten years and someone tries to give it a big push. Granted each iteration gets steadily better (anyone remember second life?) and what Zuckerburg claims to want to do this time might be a wild leap forward, but ultimately it's just a virtual world - a step away from reality. NFT's seem like a gigantic waste of money, the sellers are rolling in money and the buyers seem to be easily influenced people who must be the type to waste money buying a lot of virtual junk, 99% of which will be worthless in a couple years.
2747  Bitcoin / Bitcoin Discussion / Re: The impact on BTC price in case of a potential Russia-Ukraine war on: February 12, 2022, 08:36:53 AM
Everyone hates war, I hate it too. But these days everyone is talking about it  Angry If such war would happen which would be the impact on BTC price?

If we look at the "shock" effect created at the start of Covid, which caused stock markets to plummet and crypto along with it - then that may be the most likely outcome. It'll likely be a short and sharp dip as people panic sell, but may recover to its original price within a matter of days. Hopefully it never happens, but if it turned into a long and drawn out war - I see no reason why Ukrainians would role over now considering how far they've come and how much Russia has abused them already, then it's hard to predict what will happen. It could go up as people use it to take flight and ship money across borders, or it might drop as people prefer to hold currency in less volatile locations.
2748  Economy / Economics / Re: Forbes Announces $200 Million Strategic Investment From Binance on: February 12, 2022, 08:25:14 AM
Quote
Forbes Announces $200 Million Strategic Investment From Binance

Forbes, the iconic business information brand that convenes and curates the most influential leaders driving change, and Magnum Opus Acquisition Limited (NYSE: OPA) (“Magnum Opus”), a publicly traded special purpose acquisition company, today announced a $200 million strategic investment from Binance, one of the world’s largest cryptocurrency and blockchain infrastructure providers.'

...

“Forbes is committed to demystifying the complexities and providing helpful information about blockchain technologies and all emerging digital assets,” said Mike Federle, CEO, Forbes. “With Binance’s investment in Forbes, we now have the experience, network and resources of the world’s leading crypto exchange and one of the world’s most successful blockchain innovators. Forbes, already a resource for people interested in the emerging world of digital assets, can become a true leader in the field with their help.”

https://www.forbes.com/sites/forbespr/2022/02/10/forbes-announces-200-million-strategic-investment-from-binance/?sh=45f1608d57e2\

It is impressive how much binance is growing. They are building an empire. They have so much money, they are expanding so much.

Forbes is one of the most famous business magazines in the world, founded in 1917 (more than 100 years ago). Now binance is acquiring a part of it. Where will binance stop?

I believe this is good news for bitcoin, because forbes will now talking more about bitcoin. On the other hand, I feel binance is becoming so big that it may become a problem for this ecosystem.

It looks like they're gearing themselves up to work in lots of advertising on the forbes network and probably slide in plenty of "infotainment" pieces to push their company. It'll be rather helpful positioning as they try to build a better reputation in the US, I remember them wanting to get a listing like Coinbase but they've faced a lot of pushback from regulators lately. It just goes to show how swimming in money they are, I was frankly shocked at the price of their withdrawal fees when using them over a year ago and they likely make a staggering amount of money from the pretty sophisticated crypto trading platform setup that they offer customers.
2749  Bitcoin / Bitcoin Discussion / Re: Hypothetically keeping your bitcoin when you die? on: February 12, 2022, 08:19:22 AM
Hey, so what if you freeze yourself? And then there is technology to bring you back from the dead hundred years later.
Is there any good way to keep some bitcoin on you for this situation?
I plan on giving/inhriting most of my btc to and kids I might have in the future, but.... butttt.... what if I froze myself, kept some btc.
Is there any good idea how I keep my private keys with me? There is no gurantee I would remember a seed phrase in my head when I woke up. Might not remember much of anything. Idk no one knows.

but I'm pretty sure 100 years from now btc will be tens of millions if not more per coin, so even just 0.1btc would prob make you a millionaire.
If... lets say, you kept it in a steel container with instructions, any way to make sure the people freezing you dont just take it? Or if they dont, what if you wake up, and you dont realize what you have? Someone could easily take it from you then. Maybe I could put on on stainless steel, like a thin sheet, scratch the seed phrase in, then have it shoved in my arm or leg and stitch it up, then die, wake up. Maybe have some sort of instructions that would only make sense to me in the event i forget about it...

or..... maybe like... I put it in an awkward place in my arm or leg so it's guaranteed to give me some major issues and will need removed so it will remind me. like if i forget  my memories, I wake up, ouch my leg kinda hurts when i walk. go to doc, doc x rays and is like you got some random metal in your leg wtf lets remove it. on th metal, rolled up, it says "my name" or whatever to open only. no one else. then has instructions how to retrieve the btc?

Assuming I dont have great great grand kids who want to help their ancestor in some way who show up on my revival?

All of course assuming it is possible for humans to revive the dead in the future. idk. wouldnt it be funny, there is an afterlife, and you tell people there how you had bitcoin and if it is worth a bunch telling everyone how if you were alive you would be rich, then suddenly you get sucked out of the afterlife into your body? Maybe it takes 1000 years later, and 1 bitcoin is a trillion dollars lol. but then it would suck if you wake up and someone performs operation on you in the process of waking you up and sees and takes it? Man... too bad things cant just be literally etched into the brain so there can be no possibility of forgetting it or something.

Idk, anyone have any ideas?
do any post death trusts exist? Like go to a bank and be like hey, can I rent out the safe deposit box for the next 100 years?
THen its your luck it's 101 years when you revive and the bank threw out your seed phrase lol


There has been no example of someone who has been frozen and "resurrected". If an insane person were to freeze themselves while alive right now, it's the case they would die right there and never to recover. The brain needs those electric pulses to retain all the components, connections and memories that are stored - you'd be short circuiting it. While some people might wish they could live forever, or at least be reawakened in some distant future, we simply do not have the tech right now and even if the tech did become a reality in future, it's unlikely to recover people who were not conditioned in the correct way as you'd just be looking at a dead slab of frozen meat.
2750  Economy / Economics / Re: Bitcoin has become a lifeline for sex workers on: February 12, 2022, 08:07:23 AM
....

Interesting stories and narrative emerging here. I feel like sex workers who use crypto have lived through the fustrations some have had with traditional finance. There is a massive unbanked and discontent demographic, which creates a vacuum necessary for bitcoin and cryptocurrencies to thrive. Banks closing the accounts of sex workers has likely provided some of the most powerful incentive driving cryptocurrency mass adoption. Mastercard and visacard disavowing pornhub payments likewise must have had a powerful effect to push cryptocurrency adoption on those seeking alternative options.

The article mentions backpage which became one of the go to sites for personal ads after craigslist personals were shut down. What it neglects to mention however is the massive "this site was seized by the FBI" graphic that pops up if someone visits the backpage website today. It is possible that even the seizure of sites like backpage have been fuel to crypto mass adoption.

We could have a precedent emerging here, where the biggest push in favor of crypto mass adoption comes from banks and intelligence agencies. Remember all of those "how do we achieve bitcoin mass adoption" threads made on this website? I wonder if we finally have a definitive answer to them.


It's certainly a sort of grey area market (that the police like to abuse) which will get a lot of help from cryptocurrency. It should be noted that they say stablecoins are particularly useful because they're much less volatile, no point getting paid $1,000 and waking up the next morning to only find $800 in your "bank account" if you need to pay the rent. I'd say this whole situation has to do with old men, usually pretending to be religious and often practicing hypocrites, who set these rules up because it was just the done thing back when they were young but is now considered more acceptable in society. If the rules were rewritten to be more fair then any financial institution could  be geared to accept it, though traditionally I guess it has been a cash business.
2751  Economy / Gambling / Re: Vulnerabilities in gambling websites in past on: February 11, 2022, 09:48:11 PM
There are still some weaknesses in the gambling sites, but what can be done about them? There is a lot of talk about cheating and arbitrage betting. Perhaps rightly so, but what can be done about it? That hassle with table tennis and cams, that does not make sites happy. And then with corona you also had a lot of competitions that were manipulated by the bookies. There are too many matches to monitor all of that in time.

These are rather inane questions. One of two things is going to happen to sites that have a vulnerability like the examples given. Either they will have measures in place to limit the damage and eventually be able to identify the bug, as we saw with the hacker who was kind enough to disclose a glitch. The other possibility is that the staff fail to identify that they have a losing edge against a player, if the automate withdrawals then it's very possible they'll be wiped out before there is any chance to figure it out. These are very profitable businesses when done correctly, so when you see dead sites then you know they probably lost a fair chunk of money and gave up.
2752  Economy / Economics / Re: Your opinion on side jobs on: February 11, 2022, 07:46:13 PM
General opinion is that a side job is one that supports the main income of an individual, often times perceived as something that brings little money to add to what you make from your day job. If Mr X earns better from a side job when compared to the income from his career option, does the side job still qualify to be called a side job?

I know someone who runs a company selling items through ebay and makes a sizable sum from it every month, probably more than his main salary, but he still considers just as "extra income". Some people get more satisfaction from their day job, whether that is in the form of social interaction (being around people rather than isolated at home) or their main job offers more intellectually stimulating work. If you're a programmer or a doctor, you might get to exercise your brain a bit more trying to solve complex tasks - but if your side job is churning out mundane articles without thinking, then most people will just find it as a grind and keep it as a hustle.
2753  Economy / Gambling discussion / Re: Why a single bet is better than a multi bet. on: February 11, 2022, 07:29:40 PM
This is not something new it's quite obvious that the odds of winning a multi bet are lower than a single bet,but the multiplier is higher and that's why people go for them.


It's not obvious to any new gambler and it's a good reminder. Most bookmakers make tiny margins on individual bets and make most of their money from multi-bets, which should tell you that the odds are certainly not in the favor of the player in that situation. People are very poor at judging mathematical odds once the calculations start getting complicated, especially the average person trying to calculate a 5 string set of wins - you can guarantee that most people placing a bet will only see the huge multiplier and think they're making a wise choice. The odds against you actually go up exponentially the more games you add but the payout doesn't change to match it.
2754  Economy / Gambling / Re: Top 5 Slots Games to Play in 2022 on: February 10, 2022, 08:39:09 PM
1st Place – King Kong Cash
Your top slot to play on the web is King Kong Cash. This 5-Reel, 20-payline slot was launched by Blueprint. The slot is famous for its incredible number of bonuses.

It has a whopping nine bonus features — 4 randomly triggered base game features and 5 main bonus features.

It is also popular because you can play it for only 20p and win up to 1,000x your stake.

Features that make this slot stand out: 9 bonus and free spin features, a beautiful design, medium volatility and 95.8% RTP.

You can pay King Kong Cash and read a more detailed review right here:

https://bestslotssites.co.uk/all-slots/king-kong-cash-slot/

2nd place – Gonzo’s Quest
This is one of the best slot games online casinos offer. It has everything you can ask of – lots of winning combinations, a bonus round – free spins with a high win rate, and a beautiful design.

Features that make this slot stand out: an avalanche-like scrolling reel, gaming symbols in the form of Aztec stone slabs, a wide range of staking options- from 20 to 100 credits per line.

3rd place – Book of Ra
According to the reviews, this slot game gives out frequent and large winning combinations. It has an interesting bonus game with a generous bonus system and a classic card game for doubling where you can multiply your bonus winnings several times.

Features that make this slot stand out: a bonus game with 20 free spins, an attractive Egyptian theme, and a RTP – 94.2%.

4th place – Mega Fortune
This is a slot machine with 3 progressive jackpots, 25 paylines, and free spins bonus round. This slot uses themed game symbols in the form of yachts, jewels, and luxury limousines.

But the main highlight of this game is the exciting bonus game. When you hit it, you get to spin a huge wheel of fortune and get a chance to hit a major jackpot.

Distinctive features: addictive gameplay, high winnings, and a realistic chance of hitting the jackpot.

5th place – Crazy Monkey
A legendary slot game with funny cartoon symbols and an intriguing payout system, where you can hit the big jackpot or be left with nothing after getting hit on the head with an anvil.

According to statistics, this slot machine is played daily by an average of 7-8 thousand players worldwide. We are assuming the reason is the incredibly high RTP – 98%.

Distinctive features of the slot are an unusual bonus round, and a pretty design.

Honestly you could have used the same list for the last 10 years, a lot of these are stock games that are shared between many different casinos and there is nothing unique about them. The simple fact is, that if the slot has a higher chance of winning then it is still paying the casino and chances are you will get lower amounts paid out when you do hit a win. They're basically money printing machines to the casino as there is no element of skill involved, yet they seem to hook a large amount of people with the highly addictive play style. Once somebody gets trapped in the wrong cycle, it becomes a game of chasing losses - people psychologically can think that they deserve a win and keep funding even more losses.
2755  Other / Off-topic / Re: A 90 year old luxury car now becomes useless. on: February 10, 2022, 08:22:15 PM
This useless car is located near my house location Shamnagar Lahore, Pakistan. I captured its picture before 6 months. I see this car daily and then i search it their model on internet. I found that before 90 years ago its a luxury car. Its named was HUDSON TERRAPLANE BROUGHAM 2 DOOR CAR.

Hudson Terraplane Brougham 2 door Sedan car making was started in 1932 and car was ready in 1936. Chrome and brightwork in nice shape front and rear. This car has a 115" wheelbase. Powered by the 221 L-head 6-cylinder engine that is paired with a 3-speed manual transmission. Riding on the black artillery wheels with terraplane wheel covers with Goodyear wide white walls. Dual handle trunk latches in the rear. Suicide doors on both sides. The passenger seat will fold down to provide easy access to the rear seating area. Some 1935-1936 Hudson Terraplanes came with the column-mounted electro-mechanical shifter dubbed "The Electric Hand".You use this mini shifter on the column as a remote way to shift the larger normal shifter on the floor, (still using the clutch of course) without touching the shifter on the floor! .This car is running on a 6-volt system.

Before 90 year ago this car is the most luxury car. Everyone have a dream to sit in this car. But with the passage of time its value decreases. And now it placed in a street. Now, we can checkout its condition it becomes useless. Now, we avoid this car. How 90 years can change the life of a car.
This realize me how things change their value with time.

I'm confused by the purpose of this thread, is it simply for advertising your opensea NFT based on this car that you've described? This seems like a subversive way to advertise if that is the case. You're just writing some vague text and trying to tell a story in a couple paragraphs while trying to get people to buy this from what I can see. This is not the marketplace section. At a certain point if a car is exposed to the elements for the length of time you suggest, then it will be so covered in rust that it will become unrepairable and unsalvageable, it looks like pretty much the whole structure of the car has disintegrated but it might have been not worth maintaining many decades ago and only became a collectors item more recently.
2756  Economy / Economics / Re: IMF urges El Salvador to remove Bitcoin as legal tender on: February 10, 2022, 08:14:27 PM
https://www.bbc.com/news/world-latin-america-60135552

So, International Monetary fund demands that El Salvador remove bitcoin as legal tender, otherwise it refuses to give loans to the country.

They are doing so to protect the people, as bitcoin will "bring instability and inflation"

How come a deflationary currency will increase the inflation ? WTF!

they continue, saying that IMF wants to protect the consumers:

They highlighted the "large risks associated with the use of Bitcoin on financial stability, financial integrity and consumer protection" and with issuing Bitcoin-backed bonds.

We don't know what is good for us, but they know it.
[/quote]

It seems a bit like economic blackmail and it's not really the IMF's place to dictate the currency choices of a country in this way. They might attach strings to any future loans, such as not allowing them to be converted into cryptocurrency or specifying that the loans must have a defined end usage with traceability. However we often see that these financial institutions are driven by very old policies, that while they might be prudent and have a history to back them up - are very slow to adapt to new conditions. They should be helping countries to set up their own cryptocurrencies, if they won't support current ones, instead of trying to interfere in domestic policymaking.
2757  Economy / Speculation / Re: Deception of manipulators or new rise in prices? on: February 09, 2022, 09:23:51 PM
Two well-known bloggers with a large audience are talking about the rise in the price of bitcoin.

https://twitter.com/MMCrypto/status/1490958391048810496
"#BITCOIN IS EXPLODING!! [finally]"

https://twitter.com/TheMoonCarl/status/1490988524920709127
"#Bitcoin to $100,000 this year or I delete my Twitter account..."

According to the laws of the market, most participants lose their money, and I think that market makers will not raise prices now, because many people bought bitcoin in the range of 45-60 thousand dollars.
I think that this is a big deception and a trap, after which the price will be reduced first to the range of 32 thousand and then even lower, for example, by 25 thousand.


What do you mean "market makers"? You are using terminology that is irrelevant to cryptocurrency. Individuals and companies are free to trade cryptocurrencies through all sorts of mediums - it is not defined by a single platform. The price has natural volatility driven by events, media and whatever fear level might be pervading the market at any particular time. We saw it drop by almost half from the all time high and it has now recovered by half from the recent low. Nobody can dictate what the price level will be, if more bad news came out tomorrow - like the EU banning it, the price will drop again and maybe later recover. All these supposed twitter experts are just static white noise trying to convey an opinion as fact when they are just as clueless as the rest of us.
2758  Economy / Gambling discussion / Re: Sportsbet in probelms for unwanted gambling advertising on: February 09, 2022, 07:54:00 PM
Sportsbet to pay $3.7m in fines and penalties for sending 150,000 unwanted gambling advertising and gambling as well. Apparently sportsbet would have to pay fines since they were sending those messages to people who were trying to unsubscribe to them. At the same time they are not only gonna pay the biggest fine according to Australian spam laws they are also going to pay to individual customers.

https://www.google.com/amp/s/amp.theguardian.com/australia-news/2022/feb/10/sportsbet-to-pay-37m-in-fines-and-penalties-for-sending-150000-unwanted-gambling-ad-messages

Financial counsellors are also implying that they should put a whole ban on the gambling advertising. The company also was contacted by acma but they apparently continued to do it.

What do you think 💬?
I think it's really irresponsible thing to do.

It's worth noting that this fine is issued to Sportsbet.com.au and NOT the Sportsbet.io cryptocurrency casino that is a regular participant at these forums. They are two distinct entities and direct competitors. Besides that, it is a fairly common occurrence to see these fines going out and it makes you wonder if the penalties are high enough. Let's hope that the multiplier goes up for each time a company is found guilty of breaking such laws so that eventually they will take the proper care or maybe even be pushed into bankruptcy if they abuse their marketing position. Unfortunately in these type of events, where they stand to make huge profits, you have to assume that every act is malicious instead of defaulting to the argument that it is accidental.
2759  Economy / Economics / Re: Russia to make bitcoin a currency on: February 09, 2022, 07:44:54 PM
I do not want to repeat what I have posted before about what was going on in Russia and how the Central Bank of Russia were making moves to make sure crypto transactions are banned in the country, they want to follow what China did. But the president of Russia, Vladimir Putin later spoke good about bitcoin mining and believe this will do the country good.

If you are interested to read about it:
Fate of bitcoin in Russia

If the president had not made his own research, the Central Bank of Russia might have succeeded. After the good news from Vladimir Putin, Russia wants to make bitcoin a currency.

Russian government and central bank agree to treat Bitcoin as currency

Quote
Russia’s government and central bank are now working on a draft law that will define crypto as an “analogue of currencies” rather than digital financial assets set to be launched on Feb. 18. Cryptocurrencies would function in the legal industry only if they have complete identification through the banking system or licensed intermediaries.

Kommersant noted that Bitcoin (BTC) transactions and possession of cryptocurrency in the Russian Federation are not prohibited; however, they must be done through a “digital currency exchange organizer” (a bank) or a peer-to-peer exchange licensed in the country.

It's an interesting development to see, that's for sure. It looks like there is a tussle going on between the Russian Central Bank and Ministry of Finance. To me it seems that cryptocurrency is a very powerful tool for a country like Russia, who can use it to transport funds in an obfuscated way across borders and they are probably looking for any options that could diminish the power that the SWIFT system has over them. It would be unwise to cut Russia off from SWIFT at any point, but the threat is a possibility in extreme situations and would do them a lot of harm. Ultimately however, it does not make sense to ban such currencies and it seems that sanity has prevailed.
2760  Economy / Gambling / Re: Can you manage gambling addict by taking drugs? on: February 09, 2022, 07:39:37 PM
I was with one of my old friends yesterday and he was addicted to football gambling to the extent that he is finding it very difficult to sleep and do normal activities. He has won some of betting he has played on but correctly want to give it some time off. He is asking for general advice if drugs can help.

There is no "anti-gambling drug". There may be many drugs that could potentially help with impulse control, but you are essentially feeding a dopamine rush every time you decide to gamble - win or lose. I don't think it is wise to replace one chemical inducing addiction with another chemical. Your friend needs to really figure out what it is that is driving them to gamble and learn to control themselves - it might be boredom, trying to recreate a feeling of happiness they found at an earlier point in life, lack of alternative stimulation, chasing losses or all manner of things. Until they identify the trigger and aim to deal with it, any drug is simply going to be suppressing an urge that could come back with a vengeance later.
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