There are two types of consequences: if you have money on your bank account they lose their purchasing power because you are subjected to an "implicit tax" because your saving are cut by the increasing in the price level. So you should be able to invest your money in bond or in the Capital market in order to close the gap with the inflation rate.
Obviously investing you can achieve more profits but losses at the same time, due the equation more yield and more risks.
If you want an advice you can just think to invest your money in bond because Central Banks will decrease interest rates in the long run because inflation is falling sharply.
When you are holding anything you consider of value; fiat, Bitcoin, gold, cars, silver spoons etc. you are already investing in something that has a value which goes up and down. And during inflation, fiat is the investment which loses value. So obviously it is smart to come prepared and know what else you can invest your fiat into. Or you can diversify and not have to worry about one thing. But as a rule of thumb, you should expect most of your investments to go down during inflation. There is no need to fear it. It has happened and will happen again. But that does not mean it will last forever. |
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I decided to come up with this topic because of an experience i had yesterday and i decided to bring it here for clarity sake and to see some people's view about it.
There is this notion the society placed on those who gamble or who play all sorts of games ,be it casino,bet9ja,R/S lotto, what, snooker and many others. They often see them as those who don't have what to ,or caliber of individuals who are jobless, a se of people who are not well trained by their parents and many more other names they call them.
i sincerely came up with this topic to find out why they have such views on individuals who voluntarily went to the betting shop to gamble either to win and make a difference or to lose and remain the same way. This idea actually started when i saw a pastor playing bet9ja after a brief evangelism and one elderly woman made a side comment ( That even man of GOD also play gamble) .
however, my question here now is : is gambling restricted to some certain kind of individuals or class? or is there any stratification when it comes to playing gambling ?please your opinions here here will actually quench my curiosity.
I think gambling is a natural thing, if you think about it from a biological point of view. Our brains demands dopamine and other brain chemicals which the brain rewards with demanding more of the same thing. And this works fine until you confront something which gives you pleasure but can also ultimately be bad for you (drugs, gambling...). But that just goes to show that biology is not perfect and that we should be able to judge how much of a thing is too much. So that is how I think of gambling. It is basically giving your brain it's favorite treat. But only do it every now and then or else your brain gets addicted to the treats. Evolutionary advantages of men being risk-takers (hunters) do factor in to the fact that more men than women tend to gamble, I think. But that is a different Ted-Talk   |
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Gambling though is a risky game that the chances of winning and losing is in equilibrium but however in other for one to have a possibility of winning, it requires a steady income.
Having a steady and regular income is very important as a gambler because it would enable you to scrap out money you should use for gambling, feeding, taking care of yourself and family and other miscellaneous.
A gambler who has a steady and regular income can have the possibility of winning because his gambling habit can not affect his personal obligations as a man even if he's an addict because being addicted to gambling doesn't actually implies that one will eventually stake all his money on bets but rather someone who plays gambling frequently. By having a steady income, he can take care of other life responsibilities without being affected by his gambling activities and moreover, someone who have a stable income can be aiming to win higher amount in his bets and might be lucky of winning one day and use the money to establish an investment.
Your thoughts on this
Obviously a steady income is important. Otherwise you would be gambling money that you really need until you find another income source and that might be very troublesome once you realize you do not have the money for material necessities. But it is just as important to have the discipline not to gamble everything away. Otherwise you would come to the same conclusion as with gambling without an income source. If you think about it, either way it is a question of discipline. How much self-control do you have? |
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The high rate of gamblers who take loan for gambling purposes is quite alarming, and most of them are fathers to kids. Most of them don't end up taking care of their debt before passing. What happens to the funds, when the lender comes for his money? It's quite a tough one for a person who isn't a gambler to inherit a trouble from a gambling dad. Such things also increase the anger of the society on gamblers, because the addicts are, also, good at extending their problem gambling to other close relatives. Could it be talked through in the law court?
As I understand it, yes, yes it is. But the circumstances have to be quite right. Normally somebody's debt is inherited by their children unless they decide to not accept the inheritance. So in other words, if your grandpa leaves you hundreds of thousands of dollars, but he has millions of dollars in gambling debt, you will be responsible for paying off the debt, as you accepted the inheritence. But realistically, that never happens. Why would someone accept to pay off debt even though they can avoid it? Perhaps some people think that as long as they get the money, they can ignore the debt and somehow things will work out? Sounds like a recipe for disaster. |
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As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my area of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.
The secret of being a good trader is to throw away your fears. FUD and FOMO must mean nothing to you. Follow your strategy and don't start making new strategies while already executing a strategy. Know the value of your investment. So if you invest in Bitcoin, for example, then you should understand why Bitcoin will keep growing in the future. If you have doubts about your investment, then those doubts will have you panic-selling on the 5 minute chart. Also be careful where you put your money. Always do your research. |
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A lot of traders are not as profitable as they claim to be. I don't know the exact percentage but I can say and stand to be corrected that 95% of traders even the so called professionals are not profitable. How do I know this through simple deduction. 95% of these unprofitable traders make their money through other means and their unsuspecting followers don't know this. Some of the means are
- starting a YouTube channel and making money of
a) affiliate program
b) YouTube ads
- Having a paid course.
- Trading signals
- Selling trading merch
- impressions
- and others.
The true 5% of traders that are very successful and profitable do not even have a YouTube channel (only a very few exceptions). They are strictly for trading only, day in and say out.
The biggest warning signals are always that these "traders" act more like influencers than actual traders. They show off their lambo (probably leased) and their watches and other luxury items (also obviously leased). And people look at them and think they know what they are doing when in reality, they are just making money off of paid courses, signals or other things as you have mentioned in your list. I do not think anyone can learn anything from them. Although there are also good traders, but they are hard to spot to the untrained eye. |
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Panicking Coinbase users woke up today to find their bitcoin balances at $0 because of a technical glitch. Source: https://www.msn.com/en-us/money/markets/bitcoin-s-price-surge-briefly-broke-coinbase/ar-BB1j4tNNWell at least they were lucky that it was just a glitch! I will never understand why normal people are keeping their coins in an exchange and not even in a software wallet. People who are not trading coins do not need to use an exchange. It is just ridiculous seeing people on X/Twitter having a mental breakdown over this even after hearing about "not your keys, not your coins" so many times. Funds are never safu on centralized platforms like cryptocurrency exchanges. CEXes are just bombs waiting to explode. Anyone who holds his/her Bitcoin on such a centralized exchange (or a custodial/closed source wallet) does not deserve to own Bitcoin. I have never liked the whole concept of re-centralizing decentralized money. That way it basically becomes a CBDC but with extra steps.  And I would take anything exchanges tell me with a grain of salt. They are all criminals, or worse, crappy coders. Not your keys, not your coins. I am always happy to see that phrase.  |
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Guys, a stupid question. I had the paper with my seed phrase on the bed and used my iPhone in my hand to enter the PIN code of my ledger. These 2 minutes my iPhone camera was probably directed towards my seed phrase. Should I be worried? Or am I good? Is NSA watching and has my seed phrase already? Please only serious answers.
Edit: I’m in Thailand right now and using True 5g mobile provider. And German citizen. Nothing to do with the US government.
Does it matter what we say? You will still not be able to stop thinking about it so do yourself a favor and avoid the Kopfkino by getting a new wallet. |
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Does gambling needs experience or anyone +18, even the inexperienced one can also play? Though playing gamble has a limited age grade or age bracket and the accepted is from +18 years and there are some casinos hall at the door post, it is written clearly that it is only people of +18 can play. But what about the inexperienced ones, are they allowed to play gamble as well? Or they are also restricted to have the fun? In my observation, there are two elements to participate in gambling. One, you must above 18 years in my country and secondly you must have an experience to play, so I want to know if inexperienced people can also play gamble.
If what you mean by "play gamble" is to play a gambling game with money that is not real, then I think yes, they legally can. They are not really gambling because real gambling is only with real money. Pressing a few buttons on the screen to win/lose fake money is fine by me. In fact, it might even teach the kid what gambling really is, So he can gamble responsibly without getting hooked later in life. I can think of quite a few video games which are morally worse. And if that is wrong then perhaps both things are wrong. But that is a question I have no answers to. I am not sure if playing games that simulate gambling are completely safe. Yes, there is no money lost, but the addiction is starting in the brain. The kids can start to get addicted while playing these "fun" games. I think it should be taken a bit more seriously, and not like just a harmless game. I think you misunderstood me. I never called it completely safe. In fact, I think gambling is very harmful to the child's development and should not be encouraged. But the damage has already been done since simulated gambling is everywhere, fully unregulated and accessible to children. You can even play slots in the old Pokemon games. Remember playing Pokemon Yellow? So obviously there is no way to keep children away from it (realistically and without bad parenting), which that means that the damage is unavoidable. But I did outline that simulated gambling is legal for kids but there is a silver lining to that: they won't lose real money and they won't be caught off-guard as adults. They will know that gambling is something that is connected to monetary loss.  |
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Bitcoin price is rising faster and faster, It is time to Buy Bitcoin now before it is too late !
Is bitcoin price going to be above the $100 K end of the next 6 months ?
If it does, its mean it will cross $150K by 25 December 2024.
We need to concentrate less on "when the right time to buy is". It is impossible to tell what the best time to buy is and therefore should not even be considered. If you think Bitcoin is a good investment long term then invest in it and leave it alone. Next thing you post is probably going to be the topic of when is time to sell. A lot of people, me included, have lost a lot of Bitcoin with that kind of non-hodl mentality. I really do not recommend it. |
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I would like to know your views on Defi on Bitcoin: - What are your thoughts on storing BTC?
- Do you believe DeFi represents an evolution for Bitcoin?
- Are you interested in participating in DeFi with your BTC?
1. I think Bitcoin is the ultimate storage of value. And the best, really. Especially when you compare it to traditional stores of value and their past performances as well as their criticisms. 2. DeFi was always part of Bitcoin. It was just limited due to the way Bitcoin works. Although many could argue that the limited part was the lack of DeFi innovations for Bitcoin. I would agree on both statements. It was a bit of both. But that is changing. 3. Oh yes, I am very interested. I atomic swapped Bitcoin for Monero the other day. I realized we need more Bitcoin-compatible altcoins. |
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If you know anybody trying to stop the addiction of gambling to become better for themselves and their family, try and show them support by not criticizing them. If you observe that they experience some kind of relapse and go back to gamble even when they said they were not going to gamble, try to encourage them to remember why they wanted to stop gambling for the time. It is not an easy decision for some of them to make, and even imagining that they will never gamble again can make it worse for them, most of them need all the support they can get to help them maintain the decision to give gambling some time away. If you criticize and mock them, they may nurse in the heart the mindset that gambling is impossible to stop, or even stop trying to stop gambling because you have already made them feel like they can never do it.
In my experience, to criticize someone is nothing but purely counterproductive. The person will not be able to accept the criticism and will only blockade any further input from you, no matter how useful it might be. I think supporting them but also leading them unto a better path, by making them comfortable with confronting their problems is the best way to help someone with their gambling addiction (or any other addiction, really). Although how exactly you do that is hard because everybody is different. A psychotherapist might be a better help. |
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Gambling has developed over time and this field has become more popular, especially after the development of many games and the ability of casinos to fulfill all players’ requirements, allowing us an exciting experience.
There is always a game or several games that we prefer over the rest and enjoy more for several factors, perhaps because we feel that we have more luck and a greater chance of winning, or because we understand the foundations of the game and how it works, or for other purposes.
Personally, I am new to gambling and I do not know much about games, and I prefer gambling on football matches with small amounts of money.
What is your favorite gambling game and what are the reasons that made you prefer it over the rest?
Different people prefer different gambling games for a variety of reasons. While some prefer games like Poker, others may enjoy more simplistic games like slots. If you like the thrill of predicting outcomes then perhaps sports betting is exactly your favorite. Personally, I like variety so I do not have a favorite. Rather I have a favorite every other week when I get bored of the old "favorite". Using small amounts of money to gamble is smart. I do the same. |
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And how are people buying/trading bitcoin now if they don't want to use third-party exchanges or custodial wallets?
I'm doing some research and writing about the history of bitcoin, and am curious if there are any OG bitcoiners out there who can tell me how it worked before bitcoin got big.
There are many different ways of purchasing Bitcoin, but the most important part is that nobody can stop you from purchasing Bitcoin, even if you did not go on a third-party exchange or custodial wallets. The truth is, it does not matter if you are trying to sell Bitcoin or an expensive luxury item (like a car). Either way you can sell it without the need of a third party. All those third-party platforms are there for comfort, security and insurance. Either way, any process regarding fiat involves trust. That is why we trade it in for Bitcoin in the first place. |
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Coinbase "crash" is just a believable as Poloniex "wallet maintenances". And people still leave large amounts of their money with these disasters waiting to happen.
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Hello friends!
I have been keeping my cryptocurrencies (I still don't have many, unfortunately) on the Binance exchange.
What type of virtual wallet do you use? And what are the best ways for me to keep my cryptocurrencies safe?
Sorry if it seems like a stupid question, but even though I reasonably understand crypto, I'm still taking my first steps with bitcoin.
That depends on the cryptocurrency that you wish to hold. For Bitcoin, I would suggest using Electrum. It really is the best (or at least in the top 3) as rated by this community. As far as other cryptocurrencies go, you should avoid closed source wallets like Trustwallet (ironically one wallet that you should not trust). And avoid anything which is custodial. So as long as the wallet is open source, people can poke at it and find its weaknesses. To me, that seems a way better way of pentesting your code then getting vetted by some security audit company. But a lot of people seem to strive toward Metamask. |
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So I brought this topic to let us know that in gambling, if you just play it as though you don't take it seriously whether you win or lose then you might surprisingly win an amount that will amaze you one day and it would look as if you're smart or you know how to predict the outcome of events and in most cases, when a gambler wins they doesn't really care much about their previous losses regardless of the amount they won.
So I just felt like making some predictions in sports betting today and the events was about 8 matches, and it all played according to how I predicted them to go and I won the bet though I spent less than $1 just #1000 in my local currency to place the bet and i won close to $23 which is about #32000 in my local currency as well. Congratulations to me as i didn't expect this winning.
I imagine the motivation for writing this post is because you surprisingly won a large amount of money and are now in a euphoria. But saying that gambling pays regardless of losses is not a responsible thing to say. Nor is it true. Don't get me wrong, I am happy that you made 23x return on your bet, but don't expect the same to happen next time. From my perspective you just got really lucky. Thats it. Gambling is a activity that should always be done responsibly, with a clear head and common sense. |
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I want to play online casino which has the following criteria,
1. of course not a scam online casino
2. there are slots, roulette and versus (player vs player) games
3. there are deposit bonuses and free spins for new players
4. there is a daily bonus (points or free spins)
5. easy and fast withdrawal process (doesn't have many rules)
Casinos are all pretty much the same in the structure. What do you mean by "the best"? What exactly constitutes the best? I think many casinos have really nice bonuses and free spins and all other sorts of goodies for new players. I prefer playing on a multitude of different casinos, I see no reason to stay always at the one and the same... Just divide up your gambling funds and go for a few. Why care about the absolute best? |
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Yay we going up |
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Gambling an activity for fun also has the chance to turn someone's fortune. Calculated risk when taken in gambling can be the way to big wins from gambling. Who do you think should take more risk in gambling? The rich gambler or the gambler who is not yet rich. If a rich gambler takes risks in gambling, they are risking losing money and becoming poor from gambling, or getting richer, when a gambler who is not yet rich gambles, they can also get poorer or richer, so the gambler who should take the risk should be the gambler who can handle the dangers of the risk like losing too. When a rich gambler loses from taking a risk, there is a better chance of them being in a position to manage with the losses, than someone struggling financially who a big loss will really affect. So, I am confused after asking myself this question and answering it, does this mean a poor gambler should continue to play it safe in gambling? With no risk, how can a poor gambler change their fortune in gambling?
I think that it is all a matter of percentage and financial relativity. If a poor man gambles even only 1% of his income, he might not be able to pay his bills. If a rich man does it, then he will still be just as rich as before. The problems only start to arise when either of those men develop a gambling problem. Once that happens, it is not so far to full-blown gambling addiction as well as losing all their money. In the end they will be just as poor as the other, with absolutely nothing in their pockets. |
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