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3181  Economy / Gambling discussion / Re: Where to seek help if you need; concerned with gambling addiction. on: June 21, 2021, 03:04:13 PM
Addiction is a very strong spirit that leads to failure,frustration, and confusion.The first thing to do is to identify your problem as an addict,get mad at yourself and   and desire for a change.Self discipline will help you overcome the spirit when it comes,and avoid people that are also addicted to it so that the conversation will not change your mindset.

I have been addicted to so many things in my life but I've always outgrown them. Playing chess was addicting to me but after months to a year, I end up replacing the addiction with something else. Addiction can sometimes be cured by pre-occupying the mind and sometimes, the environment influence much. An addicted person who lives nearby the casino just a drive away, it's a lot harder to solve with this factor. Moving could help and it need self-discipline just like you are saying.

There are many kinds of addiction, and some of them can be very harmful, but chess ... I don't think it's a harmful one. Replacing one addiction with another, less harmful addiction, can be a good way to go for gambling addicts. I don't think many of them can be satisfied with chess playing, maybe some of them, but not many, but I'm sure there are several things for each person that can be as addictive as gambling to them, but much less harmful.

Replacing your worst addiction with a less addiction game or hobby that's not gonna harm your finance and mental health is a good move---boss move or should I say maturity, because it is all about self admittance and realization that in fact you're addicted and you need to be treated.

Diversifying or altering your vision on a lot of things or possibility to earn more money or to have entertainment other than gambling will help (in my opinion) to realize things about your addiction in gambling. Others just don't want it, therefore they are still stuck in the world of addiction in gambling.
3182  Economy / Gambling discussion / Re: Does implementing a tax on a gambling platform really help a country? on: June 21, 2021, 02:05:34 PM
I would go so far and say that the tax rate doesn't have a big impact on gambling as long as it is reasonable. Most of the gamblers are in it for the big money, for a chance to win millions. Having to pay 10 or 20% taxes on our winnings won't make a big difference. I wouldn't expect that a lot of people will start gambling overnight just because the tax rate on gambling was lowered to 0%. So the government should just take its share, since they are also providing the infrastructure for the gamblers.

Nevertheless, the gambler understands that a million with a 20% tax looks much less attractive than a million without tax, right? Therefore, he will try to evade potential tax payments and play outside the jurisdiction of his country, thus the country loses any tax deductions from him at all.

I agree.

However, playing outside the country would be hard especially if you're not a citizen on whichever country you'll go that doesn't have any tax in gambling. But it won't be a problem I guess if you're a popular person or a person that has many connections, but if you're just a normal man evading the tax in gambling in your country by playing abroad, it doesn't worth in my perspective.
3183  Economy / Gambling discussion / Re: Auto Deduct System on: June 21, 2021, 12:54:35 PM
What do you think of an AutoDeduct System of a Gambling Platform? Says you just connect your wallet like for example on a Dice Game, then it will just roll itself everytime it sees some funds on your wallet whatever coins it was until you are left with Zero ( Funds withdrawn or Funds gets Zero?)

I just have think of this as LOTTO ( site : lotto.finance) is implementing this, and one way to get out of that is to either wrapped the tokens or bridge it on another chain, do you think its reasonable not to have a stop button to exclude your address once you don't want it anymore?

I think this feature doesn't make sense.

Imagine you forget you turned on this feature (if they have enable and disable option) and you just saving money on the wallet connected on the gambling site, then one day you're excited to see how much did you save on your wallet but you surprised yourself instead because you don't have any money on your wallet because of that kind of feature. It's like creating your own ghost and getting scared because of it.

It's still much better to manually make your own bets to feel the thrill whenever you play gambling, in my opinion.
3184  Economy / Gambling discussion / Re: Vegas Casinos to allow Cannabis Lounges. on: June 21, 2021, 11:49:26 AM
Cannabis is a herbal medicine, and not bad to our health as long as we know our limitations. Casinos offering this kind of thing I guess have a good effect on gamblers such as;

- Calmness
- Active braincells
- Productive
- Cure a disease (like asthma for example, etc...)

Those I've mentioned above sometimes vary on the user, it has different effect from each everyone of the users. Cannabis smoking is much better than smoking tobacco in a casino which is deadly (secondhand smoke) that could cause lung cancer, so on and so forth.

So I don't have any bad comments about this as long as their government agreed with it.
3185  Economy / Gambling discussion / Re: Breaking : Donaire Versus Casimero on: June 21, 2021, 10:49:00 AM
I'll go for Donaire, not because he's a fellow Filipino but because his punch power is insane. I watched all of his matches and most of it are all win by knockouts. I can't compare him to Pacquiao's punch, but they could be the same with a little bit practice and experience. This fight is exciting as well as Pacquiao's incoming match this August.

I guess me and my cousins will have a friendly gambling competition on betting on which of the player is gonna win.
3186  Economy / Gambling discussion / Re: Crypto gambling is the worst piece of shit you can imagine on: June 19, 2021, 12:34:06 PM
Just don't play gambling if you can't afford the whole process, simple as that. Both bitcoin and gambling sites doesn't need anyone as bitter as you for something so easy to be fixed without saying any foul words. Just do physical gambling games to avoid transaction fee as an alternative, that might help you to fix your problem.
3187  Economy / Economics / Re: Is Covid-19 carrying the growth in digital currencies? on: June 18, 2021, 03:32:17 PM

As a result of Covid -19, in payment preferences, Many companies and authorities around the world are increasingly looking at digital currencies as an alternative way to make transactions in digitalized world. So guys what do you think about ? How will be easy the day today life after adopting for digital currencies?

There's no doubt that the pandemic has brought digital currencies into the lime light. Although in most countries, even before the pandemic struck, they are already using online mode of payments so it is not a new thing to them. In some countries that are just developing such as the country I belong to, it is a challenge most especially to the working class because they are not used to it. Meeting halfway was done in order to follow safety protocols as well as to cater the plea of the citizens.

In addition, this pandemic has paved way for many people to explore more about digital currency such as bitcoin here in our country. Which I think is actually a good thing because they are opening their horizons to new possibilities. It's easier compared before because of the advanced technology, people can do things at the comfort of their homes. It is much more convenient and safe to most of us during this digital time to transact using digital mode of payments.
3188  Economy / Economics / Re: Are you investing in crypto currency alone? on: June 18, 2021, 02:28:05 PM
As of the moment, my investments are mostly in cryptocurrencies. For me, cryptocurrency is one of the best investment vehicles that can generate profit over time, hence, I allotted most of my funds in it. However, I also plan to invest on other assets too such as investing in real estates, oil, gold, and maybe stocks. It's still much better to diversify our funds rather than putting it all into one platform. Like what they always say, it's not wise to put all your eggs in one basket.

I really hope by investing in different platforms I will be able to achieve financial freedom in the next few years. It will surely bring a nice feeling if you know that you're already secured financially for the rest of your lives and will not be dependent on anyone anymore.
3189  Economy / Economics / Re: Money and happiness. on: June 18, 2021, 01:51:16 PM
Having some level of financial stability affects your thoughts and mood greatly, it is very true, when you have some money in your pocket you feel like 70% of your problem have been solved, because with money you can get things done easily, people listen and pay attention to you, and if you don't have it, that is the opposite of having it, you will be frustrated and sad, and you will wish to have it and be ready to do whatever it takes to earn money.

Indeed. Money can buy happiness at some point because it can save you from a chaotic world due to financial instability. Money can give you a comfortable life that can bring happiness to most of us which why most people strive to earn more. Money alone won't guarantee you a happy life, but it can take most of your worries and burdens in life.

You see, not everything revolves around money, but we can't change the fact that it is a necessity in our lives. Without it, our moods are usually affected. We worry and bother so much to the point that some people are starting to develop anxiety and depression. Money wouldn't solve all our problems, but it can solve all our monetary problems. It can buy us the things that can make us happy. However, no matter how many times money can give us that state of happiness, unfortunately, it can't buy us contentment. It's just really a matter of perspective.

3190  Bitcoin / Bitcoin Discussion / Re: Is someone worried about the recent decline of BTC? on: June 18, 2021, 01:15:22 PM
Is someone worried about the recent decline of BTC? Don't worry, and it won't lose BTC's momentum in the future. A new report from Whalemap shows the largest cluster of whale coins in the range is 120,000 BTC at $ 58,000. As such, the lowest price can drop now at $ 52,000

$ 52,000 “Should Be BTC Floor.”
https://medium.com/snapbots-news/snapbots-news-review-bitcoin-drops-but-bull-run-wont-end-9090f739a6f3


Based on the recent trend of bitcoin, I think there's no reason to be worried about because it is the usual price value due to volatility. I am not bothered by the whales playing around the market now because it is actually an advantage at some point. Because of the price drop, we can buy the coins that showcase potential at a lower value. We can allot a larger investment that could gain larger profit over time.

You see, during the lowest of low positions of bitcoin, we can find some silver linings by looking at the bright side. Stock some valuable coins. Buy the dip and sell it high. Of course also know your risk limitations so that you won't lose all that you got.
3191  Bitcoin / Bitcoin Discussion / Re: Iran also wants to legalize crypto on: June 18, 2021, 12:37:12 PM
El Salvador succeeded in being the first country to accept Bitcoin as legal tender. And many countries are following it right now (like Latin American countries). And now, Iran is also preparing to join them. It is really good to see for the benefit of Bitcoin adoption.

I agree. It's really nice to see mass adoption slowly happening to bitcoin. After all the bad things that has happened, this is such a breath of fresh air. I can say that El Salvador's move in accepting and making bitcoin as a legal tender in their country really made an impact that pushed other countries to follow what they have started.

Hoping to read and hear more news like this. I know sooner or later, bitcoin will be widely acceptable and used around the world. I'm waiting for it to happen. By then, many people will benefit bitcoin's functionality such as being an alternative currency in transactions and being a store of value.
3192  Bitcoin / Bitcoin Discussion / Re: Will energy consumption be Bitcoins downfall ? on: June 17, 2021, 03:17:49 PM
Just as people moved from gasoline powered cars to electric will investors also move from bitcoin to ecofriendly alts?

I don't think energy consumption will be the downfall of bitcoin, but it surely will affect bitcoin if from time to time there will be mining sites that need to close down due to high electricity consumption.

Bitcoin really consumes a lot of electricity in mining which was the usual issue during the past months already. There was even a news that a mining site related to bitcoin was forced to close down because China's government has been reserving their power consumption. Maybe this scenario will make the mining corporations to slowly switch from being eco-friendly. Correct me if I'm wrong, but I think bitcoin consumes still lesser energy compared to big private mining corporations and companies. IMO it shouldn't be a big issue. Although I really do hope that mining becomes more environmental friendly since I'm also aware of the repercussions it may cause to the overall state of our planet.
3193  Bitcoin / Bitcoin Discussion / Re: If governments block Bitcoin, does Bitcoin have no value? on: June 17, 2021, 01:51:00 PM
In Bitcoin-based transactions, about 76 billion US dollars of transactions are involved in illegal activities each year, accounting for about 46% of the total Bitcoin transactions. Almost a quarter of bitcoin users, and nearly half of bitcoin transactions, are illegal. Therefore, from a quantitative point of view, the use of Bitcoin is enough to become the target of attention of governments and international criminal police. If governments block Bitcoin, does Bitcoin have no value?

Illegal activities on bitcoin is one of the reasons why some countries banned it on their place. Government keeps on regulating it because of the rumors about it such as scams and schemes associated with it (like what people say). I think we can request our government to slightly loosen their grip on crypto as long as it's proven that there's really no fraudulent and criminal activities going on. However, we can't do anything if ever they decide to ban it totally. If ever, we can no longer use bitcoin and our coins will be worthless since we can no longer use them.

I also think they can't just block bitcoin that easily because of the blockchain technology it uses. But certainly not all countries will ban it all at the same time, so users can still use several ways to utilize their accounts if ever such thing will happen.
3194  Economy / Economics / Re: Is money the root of all evil as the poor to thinks? on: June 17, 2021, 12:40:29 PM
It is often said that the biggest difference between the rich and the poor has it origin from the mindset.
One major question that always borders me is "are we created with different mindset at birth and what role does environmental factors have to place on mindset of an individual".
Ubong King said "what you see determine the level of your achievement. The rich man orientation differs from the poor man orientation because While the rich man is thinking about wealth creation and self dependence, the poor is busy thinking how evil money is with the notion that money is the root of all evil hence they prefer to be poor than miss the Kingdom of God forgetting that our heavenly father who is rich expect us to take after him. Consider this,
"IS MONEY THE ROOT OF ALL EVIL?"

Money isn't the root of all evil, discontentment is.

I hear this saying most of the time and i think it's wrong to assume that money is the root of all evil. First of all, money is a thing that has no free will and cannot act upon itself. It's such a shame if we'll put the blame all on money when in fact, people are the ones acting on their emotions and needs.

People having a bussiness goal are those who usually have more profit and tend to become wealthier than those people that tend to spend much often. However, we can't also assume that those people that spend for vacation are lesser because I think it's also wise to spend on your mental health.

But if people will just keep on putting all their hopes to their God without acting on it, it will all just be worthless. Prayer without action has no use. You have to pour your effort, time, and sacrifice some things in order to achieve your goals. Faith and hope will surely keep you on track, but always have a plan and execute it as well. You can't be spoonfed everytime.
3195  Economy / Economics / Re: Own a house or rent one? Quick survey! on: June 17, 2021, 11:59:51 AM
Hi guys, I am trying to understand certain psychological parameters of young tech savvy generation when it comes finance with responsibility. The question is simple,

Let's assume you make 100 USD salary every month. You can buy a house through mortgage loan and your monthly payment will be 40 USD and that is a long term commitment.

But you can also take a house on rent where your monthly outgoing will be 15 USD. You are free to leave and move to another house anytime you want.

What would you do? Explain your reason.

Imp: I need your answers based on your current location, socio economic scenario, job security, financial backup etc. You don't need to share these details but consider this real life details while making decision.

Personally, I will opt to buy a house rather than rent provided that my job location is fixed. I really think that having your own space is a nice investment especially because real estates' price go higher as year passes by. However, it really depends on your situation and preferences as well.

If your job requires frequent relocation, renting is the best option for you. It wouldn't be wise for you to buy a house and lot if your work demands you to go from one place to another. I just can't see the point of having one then eventually you'll just abandon it. You can't savor your hard-earned money with that case unless you will let other people rent it.

But if your financial status and work nature can handle having a house construction, it would be best to go get a house instead. It will save you a lot of money in the long run. In addition, you'll have no problem about landlords and co-tenants. You will have your peace of mind and privacy at best compared when renting. Another thing is if you plan to have your own family in the future, it's better to have your own house for your kids welfare.
3196  Economy / Gambling discussion / Re: Fully vaccinated individuals now spared of masks in the casinos in Vegas on: June 16, 2021, 03:45:03 PM
It was the benefit of being fully vaccinated and it helps to turn it back to normal transactions and activities. However, we should never be confident and we are still carefully dealing with others as there is a chance to become a carrier of the said virus. maybe if we all get fully vaccinated, we can easily breathe the air and the number of gamblers, opening casinos will also increase.



I agree.

Being vaccinated doesn't mean we're fully protected from the virus, especially there are a lot of COVID-19 variants that are being discovered lately by the health authorities, which was said much dangerous than the previous one. I guess the new normal, which is always wearing a mask and have a proper sanitation will be for a lifetime unless we finally have a cure for this COVID-19 virus.

So it's still safer to be a paranoid and always wear your mask, just play gambling but always priority your safety.
3197  Economy / Gambling discussion / Re: Economic Costs of Gambling on: June 16, 2021, 02:44:17 PM
Gambling addictions are one of the extremes of gambling. The thing is this doesn't happen as much as we think it does because not everyone will have the money to fund themselves to addiction. Lotteries on the other hand do our governments' a favor thru funding and taxation. So these economic setbacks you're talking about should be counteracted by these measures.

Gambling addiction doesn't mean that you have to spent a lot in gambling. Addiction means you can't stop yourself betting, even with the small amount, every single day. Lotteries do pay tax to the Government indeed, but that doesn't mean people will stop betting on lotteries, which in fact doesn't make anything at all except the Government taking this advantage to fund their economy using these taxes.

It's a win win situation somehow, but gambling really have a negative impact to those unfortunates who are risking their money in gambling hoping to get something big.
3198  Economy / Gambling discussion / Re: Crypto-Casinos and KYC on: June 16, 2021, 01:45:49 PM
Tbh, I feel safer on anonymous casinos but the situation has changed a lot since the regulation brought up to crypto casinos. The fiat casinos have some advantages over crypto casinos but the disadvantages are possible for high rollers. You can place over $500k in crypto gambling websites but your account will be frozen by management for the same amount in fiat casinos. Before registering account, reading the terms of service helps a lot how much users wanna risk without KYC.

Not only it will be frozen, but it's also easy for the casino to go away taking that huge money because in this industry it's easy to make a new casino since it's anonymous. Actually, I believe that crypto casinos usually attract small bettors but they are still making huge money because they are getting the volume of gamblers, and I think it's not too risky for gamblers that way and they'll take it than abiding on the KYC that fiat casinos normally implements.

Imagine, even if you are an underdog, you can gamble here since you can lie on your age when you sign up, and since there's no KYC, you can freely gamble without any problem as long as you don't gamble a lot that would ring a bell on the casino.

I agree.

But some cryptocurrency casinos are that sensitive in where they still requires KYC verification before you could cashout your winnings or profit in your account no matter how small they are, but still, you could fake out your KYC somehow if they are not gonna ask too much like requiring your proof of residency as well which in my opinion is too much for KYC verification.

Since it's about your identity, my suggestion would be, never risk your personal information just to get your profits in gambling, well unless it's really big then I guess it should be worth it, but if not, just don't.
3199  Economy / Gambling discussion / Re: How is gambling taxed? on: June 16, 2021, 12:53:01 PM
In our country, online gambling sabong (cock fighting) is considered to be taxed in the future because of its great revenue, instead of being shut down by the Philippine Government, they decided to put a tax on it instead, however, there's not specific date yet about this, so for now, online gambling (using Philippine Peso) is not yet being regulated as well as online gambling sites that uses cryptocurrency.
3200  Economy / Gambling discussion / Re: Does implementing a tax on a gambling platform really help a country? on: June 16, 2021, 11:49:40 AM
Tax is being use in public management, it keeps the economy circulating, without it, Government alone can't make anything for its country. Here in our country;

Source
Quote
Under a senate bill, which Roque said Duterte designated as “urgent,” offshore gaming operators must pay 5% tax on their gross gaming revenue, according to Senator Pia Cayetano, the measure's sponsor. It will also require foreigners employed in online casinos and their service providers to pay 25% income tax.

With this percentage of tax, it will slowly but surely (hopefully) will heal Philippines economy in this time of pandemic. Taxes could be a great help also to give citizens relief goods to help them to survive this pandemic. There's so much help of taxes, and taxes that casinos pays to the Government is the largest, if I'm not mistaken.
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