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3201  Bitcoin / Bitcoin Discussion / Re: Reasons to Invest in Bitcoin?? on: June 15, 2021, 03:39:37 PM
First I want to say that I have some Bitcoin and I want to see it go to the moon. But I have some questions regarding the reasons that people give as to why Bitcoin is a good investment.  Kiss

Reason 1: You are in control of your own money - government overprint cash which devalues the dollar, but big influential people and institutions can devalue Bitcoin with a single tweet. Bad news, issues with mining, and other things out of your control can devalue Bitcoin.

Reason 2: Nobody can take away your bitcoin whereas the bank can confiscate your cash and lock your account - should I worry about my bank doing this if I am not doing anything that is illegal?

Reason 3: You can send it to anyone in the world - why would people want Bitcoin when you cannot use it to purchase in many stores? Plus ii takes too long for 1 transaction to go through.


Please correct me if I am misinformed.  Shocked

I agree with everything you've listed.

Bitcoin is indeed a nice investment because it offers a lot of benefits to the user. Aside from the things you have mentioned, I would just like to add that bitcoin can be everybody's investment as long as they are knowledgeable enough about its nature and the risks it possess being a speculative asset.

In bitcoin, anyone can purchase any percentage and how many they want as long as they can afford its rate. We can always buy in an installment manner without worrying where we will get the fund. You see, it isn't like other investment that requires you to have a hefty amount of money in an instant in order to be a qualified investor. This is one of the great reasons I see why people should take a look on bitcoin.
3202  Economy / Economics / Re: Xi Jinping Beats Crypto, Bitcoin Mine Closes on: June 15, 2021, 01:44:53 PM
China's crackdown on cryptocurrency (crypto) trading is getting worse. This week, authorities in China's northwestern Qinghai province and a district in Xinjiang ordered cryptocurrency mining projects to close. According to Reuters, the Qinghai office of China's Ministry of Industry and Information Technology ordered a ban on new cryptomining projects and ordered existing ones to be closed in the province by Wednesday (9/6/2021) if this continues to see if prices will weaken again. ...

It has happened before several times already. But as you can see, bitcoin is still reigning.

This already occurred before because China has been trying to minimize the electricity consumption and it's understandable. We just have to acknowledge China's regulations because after all, it concerns their natural resources. Despite this situation, I know bitcoin will just bounce back again. This is the usual phase of bitcoin. We all know its nature - volatile. Hence, we should always expect sudden price drops whenever these kinds of scenarios happen.

Just chill and relax. IMO, we have nothing to worry about. Every thing is still under control.
3203  Economy / Economics / Re: Not just money but oil is most important in the World on: June 15, 2021, 12:51:22 PM
I somehow agree with this scenario that oil is the black gold of the industry due to that most of the expensive need of certain people is electricity aside from water of course, and electricity somehow comes from oil and this is one of the most expensive natural resources in which it runs vehicles and some other stuff. Just imagine a world without oil meaning no transportation services that operates due to the absence of crude oil.

Oil is indeed important and there's a reason why it is considered as black gold. Oil has so many purpose. Oil is important in different industries. It is vital to make the economy grow because without it, there will be negative chain effects.

Oil plays a significant role in transportation. Without oil, innovation would be useless since most vehicles still use oil nowadays. Of course, electricity-powered vehicles are a thing, but it is still limited and not yet widely used today. Oil remains to be the most used substance that makes car, motorcycle, and even aircraft's engine works.

Oil is also needed to produce electricity. Without oil, there would be little generation of electricity that could power the community. However, electricity production isn't limited to oil. There's also other way to produce electricity such as extracting energy from wind, ground, water, etc.

In addition, oil is used in food industry as well in household needs. It is vital to make food that needs to be sauteed as well as in different types of cuisine. You see, oil has so many benefits in human life. Without oil, the economy will surely have a hard time growing. Just look at the effect whenever there is an oil price hike. Everything's price goes up as well. Hence, we should value it because oil belongs to non-renewable resources.



3204  Economy / Gambling discussion / Re: What's the motive behind the anti gambling campaign on: June 14, 2021, 03:34:03 PM

Everywhere I look, all I see are negative comments made about money lost gambling. Mental illness associated with gambling and anything that can illustrate gambling in a negative light.

As someone who considers themselves to be a profitable gambler. The trend of covering only the negative side of the industry puzzles me.

Why is there never mention of the winners.

You know why? Because, only 13-15% of the gamblers win on a daily basis as compared to the remaining 85% lose often.

Gambling, just like any addiction, is associated with countless of risks especially if one lacks the necessary discipline to prevent them from going down that rabbit hole. The negative effects of gambling has caused a disruption in the society where people try to discuss the problems as much as possible to prevent other people from going down this hill.

That is the reason on why most people talk about the negative effects of gambling due to the number of people who experience loss.

Let me add this as well.

Gambling positive effects are much lesser compare to its negative effects to people, that's why we can't really blame them to expose the reality about gambling, because that's what is really is. Obviously, if you see people talking about it like they hate it for death, that'll only means they experienced bad things about it and vice versa.

And the government and other concern citizens being aware about this launched different programs to help people know what they are after in gambling so that they are not going to be surprise or shock anymore when they experience worst things in gambling.
3205  Economy / Gambling discussion / Re: Online gambling becomes popular on: June 14, 2021, 02:05:48 PM
In the current pandemic, gambling can be a means to be able to earn income and also entertainment when bored at home.
It is undeniable that this pandemic period is the toughest time for many people where all human activities are stopped and can only be done at home and online gambling is the choice that most people choose to stay productive.
many online gambling sites are advertised on social media and so on, and don't forget to do your research before doing it and be careful in choosing it because many fraudsters take advantage of this opportunity.
Gambling ?
Income ?
Even though there might be some people who do get lucky once in a while with gambling but there are many more who at the end of the day loose a lot and some of them even get addicted causing long term probelms.
I do believe that people should never even consider gambling and Income on the same page. Since this post was made on May 16, I can say that since then in my country there have been a lot of changes. Everything is open and at most places you don't even need masks. It's almost a month from the date. I do believe that in the upcoming days due to more and more people getting vaccinated we might see very different scenarios. Online gambling platforms Will continue to flourish. There are better deals and more choices.

Exactly.

That's the yin and yang of gambling, only low percentage of the gambler's population are making profits in gambling while the high percentage of it suffers from losses every single day. So no matter how much of them says that it could a source of income, I would always disagree because losing is always on the gambler's side and winning is always on the house, in my opinion.

However, since we make our own choices, we don't have any chance but to accept the fact that other people still choose to risk their money in gambling because it's their choice.
3206  Economy / Gambling discussion / Re: Man lost £20,000 in one night after becoming addicted to online gambling! on: June 14, 2021, 01:21:43 PM
if he didn't intend to get back the money he lose through gambling then he wouldn't have debts to pay later on. The meaning in that statement is what makes gamblers lose less if ever a person already bet some money. I even call myself a gambler even if some people think that I only bet small amount. The highest amount of money I lose in one bet didn't even reach $5 if you converted it to dollar.
It is not easy to repay the debts, and it is better we don't try that, especially if we use the money to gamble. The risk of losing that money will be bigger, and if we lose, how can we repay that money? We need to prevent big losing money in gambling, so we don't have to become like that man who loses too much money. We must learn from that man for our good to have that money for other things.
Well borrowing money to gamble isn't really the way to go anyway, but if it's just a small amount of money that we can at least pay off with a full time job, I guess that shouldn't be a problem either. But when it becomes a habit then of course it will be dangerous too, losing money in a short time will be very easy and it does not only apply in gambling. So, make a deeper consideration if you want to spend a lot of money on gambling, always having a spending limit on gambling can be the best way to keep your financial management under control.
A very suicide thing to be done by someone who would consider on taking a loan just because he do want to play gambling? You are just making things complicated and possible big problem is really on high chance to happen which might really end up for you to go suicide when those who give you loan
would really hunt you down in the time where you do need to repay.You shouldnt consider out this kind of option because you would eventually
be putting yourself into big trouble. Play on the money that you can afford to lose and that would be just an extra or spare that you do had.

I agree with this.

I mean, if you have to borrow money just to play gambling and work your ass out to pay for the money you borrow, why not just turn it to savings instead? we wanted to earn some money and that's not always possible in gambling, so we should go to the options in where earning money or having money is possible.

Also, borrowing money doesn't mean gambling sites or casinos would take a pity on you because you're a hard-working gambler so they should give you a huge winning, there's no such thing, casinos doesn't even care who you're except for your money.
3207  Economy / Gambling discussion / Re: Big companies finally had enough of the excessive tax on: June 14, 2021, 12:44:07 PM
Quote
In a bid to raise cash for the financial year amid the struggles caused by the Covid-19 pandemic, Treasury Cabinet Secretary Ukur Yattani has reintroduced the tax, which was removed by President Uhuru Kenyatta in July last year.
I understand that people can become emotional everytime they see tax hikes or new taxes to be implemented but can we have the numbers before and after the tax  was removed?

The proposal would tax the gamblers and not the casino or bookie. These companies thinks it would affected indirectly since one of the aim of the law is to discourage players but does that really stop them from gambling?

Exactly.

If I understand it correctly, gambling sites would lose their big players if they are the ones who's going to pay the 20% on every big winnings, which is insane, and slowly other players would lose their interest also in playing gambling in that certain country because of such regulation. Gambling sites have its own negative and positive effect on the community, but since it favors the rich even more, I guess their government is convincing people to stop playing gambling and do something else instead.
3208  Economy / Gambling discussion / Re: Be a Responsible Gambler on: June 14, 2021, 11:17:35 AM
Myself have identified my weakness in gambling. It is the lack of control. In consecutive bets I keep myself within control, but at some instance when there is a winning streak I go out of control and further when loss happens the mind tends to go for higher bets to recover the loss. This is where I wasn't able to control.
I also have that problem but I never stop learning and controlling myself when playing gambling. I know that it is hard to control ourselves but that is what we must do. Maybe we can stop gambling when we lose, but as you said, we can out of control when we win, especially if we win for big money. That is what happens to many people out there and that is why they become addicted slowly. No matter what, we must control ourselves and always and not trying hard to playing gambling.

That's the common mistakes most of the gamblers do, they never make a budget of their bets whenever they win big, because they believe that using the same pattern and same amount of bet would do the trick to repeat their winnings, and ended up using all of their money including their profits, so they'll deposit again and have the same ending again, until they get addicted looping on the same scenarios.
3209  Local / Pamilihan / Re: Bagong Crypto Trading Platform sa Pinas - BloomXapp on: June 11, 2021, 03:13:01 PM
Good news 'to kasi mas maraming mapagpipilian yung mga traders at investors na pinoy. Kaso lang nasa alpha testing pa lang sila, so panigurado marami pang bugs tapos next yung beta bago pa yung pinaka-official launch nila.

Maganda naman suportahan yung sariling atin if yun yung pinopromote ni OP. Kaso lang kasi baka kapag may third party platform mas lumaki yung fees na babayaran kumpara kapag diretso binance na. Mas marami rin pasikot-sikot kaya sa tingin ko hindi siya advisable sa newbies. Isa pa, dahil nga bago lang, panigurado konting coins pa lang yung available sa kanila kumpara sa binance na halos lahat nandun na sa platform.

To add lang din, hindi pa natin sure kung gano kahigpit yung security na meron itong bagong established trading platform. Magsstick pa rin ako dun sa nakasanayan saka subok ko nang hindi nagbibigay sakit sa ulo pagdating sa deposit, withdrawal, saka mismong process ng investing at trading.
3210  Local / Pamilihan / Re: BPI hindi na mag allow crypto transactions on: June 11, 2021, 01:24:15 PM
Hindi magandang balita 'to lalo na sa mga kapwa investor/trader natin na pangunahing ginagamit ay BPI para sa pagdeposit at pagwithdraw. Masyadong naging mahigpit si BPI unlike kay Unionbank na talagang crypto user friendly. Pero kung sabagay, ang kalakaran naman sa pagproseso sa BPI ay pesonet at hindi instapay kaya mabagal din kumpara sa ibang kakumpetensya.

Sayang lang din kasi mababawasan ng choices yung iba sa pagpapaikot ng pera nila. Madami namang options pang iba, kailangan lang din nila iexplore. Next time, piliin na lang din natin yung bank na talagang swak sa crypto para di tayo mahassle kakahanap kapag nag-iba na naman ng ibang policy yung bank na meron tayo.
3211  Economy / Economics / Re: El Salvador plan to make BTC legal tender on: June 11, 2021, 12:23:29 PM
It's an interesting news that El Salvador is trying to make bitcoin as a legal tender in their country. However, what's the catch though? I hope it won't be taxed as much.

It's nice to read that amongst all the countries trying to avoid accepting bitcoin, there's a country willing to try to make it as one alternative for paying debt. Bitcoin can help them gather future investors which can result to slowly improved economy that can help their citizens.

I hope before they proceed to implementation of making bitcoin as a legal tender, they would educate their constituents about btc first. It's going to be a big leap for their country, but I hope it will turn out great in the long run.
3212  Economy / Economics / Re: what will happens if everyone has own currency, doesn't a bad for Economics ? on: June 11, 2021, 10:35:55 AM
It's easy to make your own currency. However, its difficult to convince other people to use your currency especially if they also have their own. So to answer your question directly, it will still be useless and worthless if everyone has their own currency because the only person that will patronize the currency you made is no other than yourself. Unless of course, you have proven the people about your currency's potential. Then, that's the time you'll have many users. Though probably, that will take a long period of time and will be very tedious work on your end.

After all, those worthless currencies will be dead and vanish in no time. It won't be a problem in a country's economy because it will be gone the moment there's no one using it. I mean, what's the point of retaining something you do not use, right? It will just become a trash. If it will be disposed right away, it will not hamper nor made a negative impact to the growth of the economy.

3213  Economy / Economics / Re: Miami Mayor Will Allow Employee salaries in Bitcoin on: June 11, 2021, 09:41:58 AM
Surely, Miami's citizens are lucky to have such Mayor that is open minded. Majority are aware that in most countries bitcoin is illegal and even prohibited. The government around the world mostly aims to suppress and control cryptocurrency. However, there really are people like this mayor that brings the torch amidst darkness.

It's nice to know that their leader allowed them to pick what form of salary they want to receive. I like the idea of not enclosing the workers choice to the traditional options of payment. However, this has its consequences as well. We are all aware that bitcoin is volatile, hence, its value won't be stable every time. There will be times that bitcoin will be in high position or the other way around. What could possibly their solution if ever bitcoin has went rock bottom? Their workers would be underpaid if ever. I just hope they will lay all the terms and conditions so that it will be fair and square on both parties.

Nonetheless, cheers for having a great leader that strives to give better services and options to his constituents.
3214  Bitcoin / Bitcoin Discussion / Re: Is Bitcoin truly a safe-haven asset? on: June 11, 2021, 07:51:28 AM
Every investment vehicle and mediums of exchange have their own risks. There's no absolute safe haven for someone to store his fund because every platform has their own pros and cons.

I think the reason why the majority keep on calling bitcoin as safe haven because they experienced its benefits and they know its potential. Maybe investing and trading in bitcoin worked for them, hence, they consider it as a safe platform to put their funds. However, we can't change the fact that bitcoin is still a speculative asset. People must still diversify to avoid losing everything at once when things go chaotic.

3215  Bitcoin / Bitcoin Discussion / Re: Elon Musk please stop messing up the crypto market on: June 11, 2021, 07:15:44 AM
Honestly speaking, Elon's remarks about bitcoin wouldn't affect the market that much if only newbies will learn to ignore his tweets and do real technical analysis. Elon is obviously trying to put the market wrapped around his fingers. He wanted to gain wealth by using his popularity.

One of the mistakes usually beginners do is that they tend to value others opinion rather than working on their own. Hence, a lot are losing than gaining because they mostly follow the gossips and hype. As an investor/trader, we shall not rely our decision making to other people's financial advice most especially if it involves large amount of money. Unless of course that certain person you'll follow is a professional and you've done your part researching what would happen if things don't go the way you planned it.

We have a brain for a reason. Let's use it.
3216  Economy / Gambling discussion / Re: Be a Responsible Gambler on: June 10, 2021, 02:15:37 PM
Gambling could only give you two kinds of result a happiness because you win or a sadness because you lose and lost all what you have.
There is a third type of feeling, the type that your just indirect. No after what the outcome of your bet might have been, you just seize to worry over anything. Thats the feeling you get when you play with what your ready to loose or isn't significant to you. A feeling that is most common to gamblers that sees the win as a thing of luck, the prediction as aware test of how far they could go or how knowledgeable they are on the games they bet on and those that see gambling as just another fun thing to do and if lucky could make a few bucks out of it. Thats the third and most exciting feeling in gambling for me. It makes you not to be too ambitious of the game and you apparently expect nothing but can only hope.

There are more feelings you could play while playing gambling actually, and the worst of them all is feeling empty, even if you win or lose, you just feel that not contented feeling that wrap around your whole system, and it's pretty depressing. The other one is that unsolicited greed because of excitement, which ruin everything, profits became stones, and luck became curse, and you ended up having nothing because you lost all of it.
3217  Economy / Economics / Re: Human productivity on: June 10, 2021, 12:31:21 PM
The world is changing as time passes by. Technology is expanding and modernization is rapidly happening over the past years. Sooner or later, innovation would take over most of the countries around the globe.

Before, we mostly use tradional ways in medium of exchange and in trading such as using barter system and buying and selling in physical markets. Now, we already have at hand what we need in an instant due to the use of technology. We can instantly shop and trade online. In the future, most probably more innovations that will lead to betterment of society and way of living of people will be produced.

Hopefully, bitcoin would be exclusive for most people by then, so the majority can also taste the benefits that bitcoin has to offer. However, we must not also degrade and eliminate the usual comparisons to bitcoin people keep on using. Best examples would be fiat and gold. We must keep in mind that these things aforementioned serve their own purposes. I don't really see the need to compare and pit them from one another. Cryptocurrency community can grow and will grow without downgrading other assets and investment vehicles people opt to use.
3218  Economy / Economics / Re: Do you think Elon is manipulating the market? on: June 10, 2021, 11:35:52 AM
I think Elon Musk was and is trying to manipulate the market. Too bad, people have learned his evil tactics already. This guy has been respected by many people because of his invention and products offered such as Tesla. His reputation is looked upon that is why every moment he tweets something about bitcoin, the market goes haywire.

At first, I really thought he's just voicing out his opinion or whatsoever. But later on, I realized he is trying to sway the market onto his favor which he did so well numerous times already. Newbies tend to follow his tweets like it was some sort of magical book that will instantly make them profit. Unfortunately, most of the times it's the other way around.

Nowadays, people entering crypto are being careless amd gullible. They keep trusting anything they heard and read without verifying it first. They also keep on forgetting about the reminder studying first before risking, hence, most of the time they are found at the losing end. We should not rely on gossip and mere speculation so that we won't be left behind. Learn to read the chart's trend and do technical analysis. Do not put all you hopes in just a random tweet.
3219  Economy / Gambling discussion / Re: Betting to Risk Free Fights on: June 09, 2021, 03:51:29 PM
I'm aware betting on any fight will always carry a risk but yes, sometimes we will assume the risk is lost when the athlete fighting has some of the better records. But believe me, it's just an analysis that still doesn't guarantee we will win when betting for him and for that reason too, I assume all bets will definitely have a risk even though it is an odds that is only 1.01 but still has a risk in it because I've experienced reality bitter like that.

Maybe, but there's a lot of things that we should include other than good records.

Having a good records doesn't guarantee you always a win, things could escalate quickly anytime, so expect the unexpected. Another thing is if a match is rigged, then there's no way we could assure ourselves a win just because we bet on the fighter that has a good record, we don't know who is in favor with the judges. And the last thing of course is the records of both players, that should be the last thing we should consider, just my opinion.
3220  Economy / Gambling discussion / Re: YOUR FAVORITE GAMBLING? on: June 09, 2021, 02:35:34 PM
I used to play DICE in every gambling platforms before, as a pastime and I think I'll always go for DICE as my favorite game because it's simple and easy to understand, nothing complicated pattern like in poker or other card games. I like DICE because it doesn't take too much time before knowing the result, that's why.

I don't gamble anymore, and I didn't gamble that much before so I don't really like complicated games because it's double damage whenever you lose a match in my opinion.
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