So I ask you, how is it coming along where you live? Is it fully legal, coming close to being legal, or illegal with no change in sight?
In the Philippines, the government recognizes PAGCOR (Philippine Amusement and Gaming Corporation) as the main establishment responsible for gambling games in the country. Ironically, as compared to our customs, it is one of the three (3) establishments that provide the highest revenue in the country due to a number of players active in the gambling world in the country. Though I have yet to see online gambling in the country, the facts state the truth about its potential for revenue growth. If the government taps into this industry more, it can outweigh and bring more good than harm. |
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What effects, both positive and negative, does the fact that a substantial proportion of people that invest or get involved with Bitcoin in the first place, have the intention of making profit in a fiat currency as their primary objective? There are many people who do not fall within this category and many, who start in this manner, that then take on other ideals and ambitions. There are also many who want to "cash in, cash out".
I think generally speaking, BTC is a form of investment which renders the majority of people considering this as an alternative way of income. Though the "super rich" people might see BTC as an form of utility rather than profit, the majority views it as an opportunity to earn extra income. As someone who is living in a third world country, the opportunity of earning BTC for long-term investment is huge. The fact that I am engaged into this innovative idea that might replace the conventional fiat in the far future is an opportunity that I do not want to miss. |
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<snip...>
With an excellent FAQ created by OP, I think it is also worth mentioning that before you delve and invest into a project, you can do a quick search here in the forum to check for feedback. Generally, there are lots of dedicated forum members who report scam and shady projects (despite their ANN not posted in the forum) under the scam accusation board. Since this is the biggest cryptoforum in the cyber space, utilizing the search bar by checking the project may provide an extra layer of security. But, be wary since there may be newbie accounts spreading fake feedback. |
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If BTC was adopted in large scale (e.g. countries have started accepting it as legal tender, etc.) then its demand would skyrocket among its users around the world. According to the law of supply and demand, when demand goes up and supply goes down, price would definitely increase- so the question of whether its price would increase or not is kind of an obvious answer.
Though, this is assuming in a perfect world that countries would accept BTC in circulation. Unfortunately, while El Salvador has accepted it as legal tender, China has prohibited its circulation which definitely affected its price globally.
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People are throwing shade at FIA for picking Qatar. I do not know where you are from, but from a foreigner that is looking outside in, Qatar looks like a horrible place to do this, and a horrible place in general. It is said that thousands of people died while working in inhumane conditions for world cup, they are basically using slave workshops that pays just enough to eat for a meal, thousands of people literally dead because of their working conditions. Certainly it may have been swept under rug but even world cup was in danger of getting cancelled before everyone assured nothing bad would happen.
It just feels like that time when Hitler and Nazis organized Olympics, he was a bad person at the time as well and we just didn't know it fully yet, and they had Olympics, where the whole world saw how everything was "alright" there, and then we know what happened. FIA should have considered this move as dangerous from the start.
Ohh, this is one aspect that racing should avoid especially when politics is involved. Despite the proven working conditions where lots of people suffered during the process, the government or certain people should be responsible. But the race itself cannot be cancelled due to the fault of others. Like what some have mentioned, racing should only focus on racing. No matter what the circumstances may be, politics should be avoided as they do not involve the racers at all. |
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What do you think can be the biggest threat for Bitcoin in current situation? In my opinion it can be only some sudden governments shift in regulations and laws to ban Bitcoin (which I don't really think may happen), otherwise there are basically no obstacles or threats.
Government prohibitions, market shift, and new innovations in cryptocurrencies. Those are some of the factors that may render BTC obsolete in the following years to come. But government prohibitions might be one of the biggest cause that may cause BTC to fall in its price. Imagine if countries were to prohibit the regulation and transaction of such coins. From that perspective alone, millions of people/users would face such inconvenience in which BTC is trying to provide. |
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I agree.
Seems like their Government started to accept that gambling industry is indeed contributing a lot of money in the economy, especially right now that we are just slowly rising up from the pandemic. Entertainment is very important to the majority of population since everyone is still at home being afraid to get infected by the virus. I hope Arizona will continue to legalized gambling industry to help its own economy to rise up again and build more things to make their country even more productive.
In the Philippines, the impact of gambling has brought about billions and billions of profit over the past year from gambling revenue alone. Imagine if other gambling establishments were to be recognized and legalized, the impact and profit could be an essential factor in dealing with poverty and education in the country. But the boundary has to be seen on which activities and establishments should be legalized. |
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With regard to ponzi-schemes, no matter how appealing or convincing their offers might be, avoid them at all cost.
Just to share you my experience, USI-TECH even visited our country and held a conference where all investors went and socialized. I was "fortunate" enough to meet the developers who also shared the same passion in cryptocurrencies. The funny thing is, most of the people in the crowd are flexing about their so called "packages" and that they earn roughly around $100/day due to the returns that they are getting.
Since I was young and naive, I fell into the trap and invested BTC. Unfortunately, the campaign crashed after 3 months and I lost all of my BTC in the process. The bottomline is- even if projects cause it to appear that they have genuine and real people backing up, never trust ponzi-schemes!
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If you own 1000 ETH, you pay 10 ETH in fee for fast speed transaction, if you own 100 ETH you pay 1 ETH fee, if you own 10 ETH you pay 0.1 ETH.
In stock market, poor people pay the highest trading fee, where rich people pay low trading fee, 401k probably paid zero trading fee because they own the brokering market, yup, stock market benefit rich people and punish poor people on trading fee alone.
I think this is a misconception on your part to assume that there is a standardization of denomination of transaction fees. In BTC, regardless of the value that you transact/send, the transaction fees will always remain the same depending on the price of BTC. In addition, if you want to make your transactions faster, there are services that offer additional payment for faster confirmation, just like in ETH. So it does not follow that if you transact a large amount of ETH or BTC, the fees would be proportional to such. |
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:)Bitcoin was launched in 2007. It's 12 years and still no country has approved Bitcoin ?? Huh and in 2018, 2nd richest man "Warren Buffet" said "bitcoin will end up badly"  It is a very tricky statement wherein the country will accept cryptocurrencies while accept its pros and cons. Fortunately, such streak was ended when El Salvador accepted BTC as a form of legal tender on their country. With that in mind, it opens opportunities for cryptocurrencies to be acknowledged worldwide. Though its implementation might be far into the future, all of its effects are slowly experiencing by many due to its potential of either being a short or long-term investment. |
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So what is your opinion about this? If that webinar is not followed up, I am not sure if that discussion will work and will have a new rule to control the gambling ads.
Any movement or effort that addresses the problem on addiction on gambling, especially that if focuses on the youth, is well appreciated and taken. Anything that provides forum that increases awareness is definitely beneficial in the long-run. It goes to show that there are people who cater for people who are suffering from this type of addiction. That is why, anything that increases awareness is beneficial to the problem of gambling. I do hope that despite its avenue, people would attend it and not take it for granted. |
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My time spent here on this forum is a time well-spent. I do not regret reading on topics that revolve around current events in which I take for granted. Rather than reading news on Reddit, I would prefer to engage into a conversation here in this forum.
In addition, even with the implementation of the merit system (in which most newbies complained about), this brought about change that slightly filtered out spams which preserves the overall quality of the forum. I just do hope that they provide more features (e.g. mobile view, dark mode, etc.) in the future (though this has to do with convenience).
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actually not only Kartanaka, i think there are many countries that still ban gambling. even the punishment is great as is said for the one who transgresses it. actually it depends on the rules and traditions of the country itself whether or not gambling is allowed. fortunately in my country gambling is still accepted so there are still many people that join it and many people are helped by it.
There may be countries and territories that ban gambling. But how many of them actually punish the gamblers? If they are punishing the organizers, then I can understand that. They are profiting out of illegal business and that goes against the prevailing laws. But punishing ordinary gamblers is a bit too far. It is just authoritarian encroachment in one's personal choice. I am not sure whether someone can be punished for just participating in gambling. Maybe a monetary fine of $10 or $20 can be justified. But definitely not a prison term. Violators can be held liable depending on the Bill that surrounds the prohibition in gambling. Just like in Dubai, even the slightest mistake could make a person liable to a hefty fine or imprisonment depending on the degree on of your infraction. With the bill being introduced in India, I do suspect that their Congress would make the necessary adjustments as to how they would punish violators of such. Completely prohibiting gambling on one state could bring more harm than good (economically) since it gives such state the funding that their government needs for the improvement of the general welfare. |
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I was faced with real-life situations in my city over the weekend, I visited a casino house close to my residence to have some fun time but on getting to the casino gate I was stopped by security at the gate and they demanded a covid 19 vaccine card which I don't have at the moment and I was denied entry I felt embarrassed but I have no option than to turn back. Is the situation the same in your neighborhood?
The situation is almost the same in my town but this was the time when I went inside the mall and had my haircut. Good thing, I brought my vaccination card with me because barber shops require proof of vaccination cards in order to avail their services. To be honest, this is completely fine for me as it provides an extra layer of security to combat against COVID19 and its further transmission from person-to-person. To make matters worse, lots of people are against vaccination due to the spread of fake information about its side-effects, etc. But in terms of visiting a physical casino, my brother told me that they did require proof of vaccination cards as an ID before you enter such establishment. |
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Knowledge is the key to wealth, and you must have knowledge related to it to do everything. Knowledge can help judge whether what is done is correct, and it can also improve the ability and efficiency of solving problem. Having a wealth of knowledge reserves and sufficient experience will have a greater chance of success and more benefits.
I think it also has to do on how you would apply the knowledge. I mean, if someone has the wisdom and knowledge but they lack the necessary execution, it would be a total waste of such knowledge and information. As someone who grew up in an environment where you struggle for daily necessities, the only investment that you can grind is education and knowledge. Indeed, knowledge is power especially if you know how to use such knowledge. In our modern world where payments have been shifting towards a digitalized spectrum, knowing about the fundamentals of cryptocurrencies would put a person on the edge on the financial world. Knowing how and what to invest would put you above others. Like what most have mentioned, it is essential that you will always be the first! |
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Those people who do not trust the government are not the target audience for such actions. They are trying to lure those who are hesitant or just lazy to get vaccinated. Based on the example of my country, I can say that the effect of such actions is about zero, and maybe even negative - all people understand that free cheese is only in a mousetrap.
A little carrot and stick method won't hurt, I mean if it does the job, we have no questions about it right and I think that it's effective since it's making people encouraged to get vaccinated and given how a lot of people loves lottery, who would refuse a free ticket just for some doses. The problem with vaccination revolves around the people and the media spreading misinformed news about it. Unfortunately, these people already have their biases towards vaccination and this fuels the fire more when they see people spreading fake information about it. The government is trying their best to limit the movement of unvaccinated people by giving incentives to the vaccinated. In a way, this kinda forces these unvaccinated people to get vaccinated due to the rewards that they will be receiving once they got shot. |
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As the market is volatile and very technical, does it take full time to become successful in trading? or can some trade part time and still make real profit from the market?
Well it actually depends but most full time traders find their success on it. The problem with trading is that you dedicate your entire time speculating, observing, and analyzing the market. You rely on both external and internal factors that will affect the price of cryptocurrencies. Especially if one news breaks out (e.g. China's prohibition on crypto), those are certain indicators that would help you decide whether you should pull or add more investments in your trading profile. Be cautious, however, since there was this article that I read that 97% of the day-traders lose their profit and the remaining 3% earn as much as a bank teller. But these are 'newbie' traders which have little-to-no experience on their trading. |
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In the end, the energy of nature is stored in the form of Bitcoin, that is, the value is stored. Bitcoin mining is not free, it has cost, it needs to consume physical mining machines, it needs to consume energy. The energy consumption process is the process of energy transmission, being converted into stored Bitcoin, which happens to be the value support of Bitcoin. Based on this, no other cryptocurrency can replace Bitcoin.
What do you think?
Those are interesting points that you raised. I always have this notion that mining costs too much energy and power due to the amount of electricity needed to power and charge those CPUs for computing. That is why, most miners placed their equipment strategically in a place where air and breeze are continuous in order to prevent releasing too much heat. Though the process of mining (like you explained) costs energy, the output of such is valuable than what it is compared before. Miners will always be relevant as long as there are cryptocurrencies to transact with. Without these miners, no one would be able to send one BTC to another wallet. |
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More programs like this can help people have a responsibility to themselves and help them manage the budget and time to avoid the worst scenario that can happen to them.
Any program or activity launched to combat gambling addiction can bring huge amounts of support to fellow gamblers or aspiring gamblers in general. The problem with most gamblers is that they feel they have no support towards their addiction. It is crucial that these gamblers have to feel that sense of security where they know someone would reach out to them and support them with their addiction. Though this depends also on the part of the gambler and their willingness to be helped, the fact that these programs exists is definitely beneficial in the long-run. |
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...
In fact, there are still many people who always say about regretting not investing Bitcoin from last year or others. This may be a choice but when we have done about it, just never regret it. just think about what we can do right now and prepare to do for the tomorrow or future. Sometimes, regret will only make us feel bad and bad again every day. And this may also lead to some panic when we are really triggered to buy Bitcoin right now without any analysis and cosndieration. And if we really want to invest in Bitcoin right now,make sure that we are really ready, not because of the hype that will lead us to follow other people to inevst In hindsight, people should have invested into BTC 2-3 years ago when its price was stable around $4,000-$6,000. But who would have thought that its price would skyrocketed to what it is now? Like what I previously mentioned to posts like these, the best time to enter into cryptocurrency is the time when you first discovered about it. Every single day that passes, a person misses the opportunity of taking advantage of BTC's price volatility in the market. Whether your goal may be short or long-term as long as you have invested, then there is that potential of doubling your profits in the few years to come. |
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