A discussion to express your views and perspectives on the future economic fear between two class of people in the society, the rich and the poor.
-I have often heard that there's an even greater fear with getting money, who do you think has more fear about the future?
(A) The Rich man who has tasted the good things of life and enjoying the best, now he has to face the fear of the possibility of suddenly loosing all he possesses and becoming poor? Or
(B) The poor man who has not enjoyed anything in life yet, just surviving and facing the fear of an unknown future, thinking if he is ever going to be in a better position or the suffering is going to continue?
It depends how you're defining "Rich" in this scenario. If we're talking about people with a few million, then they have to make some extremely serious mistakes in order to lose their money. Most people with that sort of money can just plow excess cash into index funds and live off the dividends for the rest of their lives. Over time the value of the shares in those index funds will rise and they will also receive steady dividend payments which can cover their living expenses. Unless they do something extremely dumb like put all their money into one property, fail to buy insurance and see it burn down - that sort of thing is the only way they could lose most of their money in one go. Yes they may fear being poor, but the reality is that will not happen if they have just a tiny bit of sense. |
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I am just kind of curious how legalized gambling is coming along in whatever part of the world you live in? I'm from Illinois in the United States and we just recently legalized many forms of gambling. It's progressing pretty quickly too. I'm hearing a lot of radio ads, seeing ads on TV for different sports books and what not etc. I see this as great progress. Free will is something we all deserve and though I know gambling can cause serious addiction etc, that shouldn't be up to our governments to decide whether we should be allowed to do it or not.
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?
It has been legal in my country for many years now, which is probably a good thing because otherwise it just gets driven underground or people take their frustrations out via other outlets. If people are going to gamble then the government might as well take a cut in the form of taxes, which can (if used properly) be used to address any negative side effects and even be used to benefit society in other ways. As long as the rules and governance around gambling companies is strong then it can work well. However the regulators definitely need to always keep an eye on the situation, making sure corruption is stamped out and keeping laws up to date to shut down any loopholes which will be abused if they exist. |
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So... for years we have been hearing that Bitcoin are being used to hide criminals wealth or that it is being used for tax evasion... Well, I have news for you.... https://www.theguardian.com/news/2021/oct/03/pandora-papers-biggest-ever-leak-of-offshore-data-exposes-financial-secrets-of-rich-and-powerful"The secret deals and hidden assets of some of the world’s richest and most powerful people have been revealed in the biggest trove of leaked offshore data in history." "They expose the secret offshore affairs of 35 world leaders, including current and former presidents, prime ministers and heads of state." https://www.icij.org/investigations/pandora-papers/global-investigation-tax-havens-offshore/"The secret documents expose offshore dealings of the King of Jordan, the presidents of Ukraine, Kenya and Ecuador, the prime minister of the Czech Republic and former British Prime Minister Tony Blair. The files also detail financial activities of Russian President Vladimir Putin’s “unofficial minister of propaganda” and more than 130 billionaires from Russia, the United States, Turkey and other nations." "At least $11.3 trillion is held “offshore,” according to a 2020 study by the Paris-based Organization for Economic Cooperation and Development. These are the people who are making the rules and also breaking the rules...... So this is a big "fuck you" to them....  Well, one being true does not make the other untrue. You can launder money with Bitcoin and you can launder money with offshore companies. What everyone around the world should really be concerned with is all these "offshore" banking jurisdictions and they need to be looked at in the same league as terrorists. Places like South Dakota, The British Virgin Islands, etc. that help these multi-millionaires hide their money are a leach on society and are only out to help a tiny fraction of people in the world. Like 0.0001% of people are using these places to steal money from the billions of people on these planets and frankly - these are the worst countries in the world and are funding the worst crimes out there. Offshore needs to become synonymous with absolute scum and any country that supports such financing should be cut off from the world. That includes countries like the UK and the USA who have certain privacy laws that are manipulated, which benefit when the smaller countries are shutdown. |
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This may seem very obvious, but some people do not seem to clearly understand what selling means. For example, I know a few people for a mid-size village that, during a housing boom, sold quite a bit of land to developers and made a development plan that was pretty much crazy (high rise on small streets, minimal walkways, no space for public services, ...). They were very happy about getting the money. Now, all I hear is complaints about how many disgusting people that are not born there came to live to "their village".
When you sell, is no longer yours. When you sell your bitcoin for more than you paid, you may be happy about it, but unless you have an investment to make or would like to buy something else, all you have left is... fiat. And fiat finds its way out of pockets very quickly.
Sadly there are many people in this world who seek out short term profits while overlooking the long term expenses that come with selling out. As you say, these people have no right to complain about new people moving in since they sold without thinking about the future - all the money they raised was probably blown rather quickly and now they are feeling guilty that they wasted it. Not only that, the property that they have sold if it is like many places in the world has probably appreciated in value. Ultimately they were poor custodians, who instead of keeping ownership and receiving small rents for their lifetime (like the wise would do), decided to take a large lump sum up front instead. |
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While reading at this thread Why do most (if not all) casinos ban users’ accounts if have more than one?. Something came to my head and here it is: We in this forum have seen so many gambling sites launched and many of us have tried those sites. Sometimes, the new gambling site provides a giveaway for new members to test to find out that the site is worth continuing to use and can be a good site for us. The problem is that when we do a test with free money or make a deposit to our account on the site and we can win some money, we become greedy and want to get more money. We can register on the site using our referrals, and we know that many of the gambling sites have affiliate programs. Then, after we register and deposit some money, we can win again and when we win, we want to withdraw the money. Still, it turns out that the site tells us that we are cheating. Still, they haven't or don't tell us where the form of cheating is even though we know that we have registered twice on the site and that site has also informed us that they will not allow anyone to register using the same IP or having multiple accounts and they can check every member to find any form of cheating. What do you think? Is it related to morale, ethics or what is your opinion? It depends what lengths the person is going to in order to commit these frauds against casino companies quite frankly. Just like a store in the real world is allowed to set reasonable rules (e.g. you must be wearing shirts and shoes to enter) the casinos also have terms that you agree to before registering. Every single site offering such rewards will specifically limit the reward to one per customer and require agreement before creating your account(s). If the customer decides to break those agreements then it will be up to the discretion of the casino on if any sort of refund is appropriate - I would expect them to do the decent thing and refund it for genuine mistakes where neither side has lost or gained anything, however you cannot expect the casino to eat a loss based on the benefit from a special promotion that is wrongly abused. It seems pretty obvious. |
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Keeping your money on an exchange certainly does make you an easier target, but some people simply do not have the ability to store their cryptocurrency safely in any other way. They might not have access to safe storage along with a personal PC, but want to purchase and hold it. In theory an exchange can be much safer than a private PC which could be vulnerable to viruses or even hardware failure - this sort of redundancy will be built into the biggest exchanges who can have vast security teams covering many different aspects. While it is devastating for the 6,000 affected individuals, the fact that it is not a complete loss of millions of accounts and is fairly concentrated to the low thousands is somewhat commendable. |
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As title says, Since casinos are not giving any kind of free money and they have a house edge that guarantee the win for them in a long run no matter where do you bet or from which account, i.e. They aren’t either losers or winners. It’s usually used to prevent spamming by bots. The idea is that why would a bot use dual account while they can change seeds and do everything from one account?! I’M afraid there is a something we don’t know about this  If you ever visit scam accusations section, you should have seen atleast one problem from this kind from a very trusted known casinos which looks weird for me. It should be pretty obvious why casinos don't want people to have more than one account - there is no good reason that you should ever need one. The historical reason that people have tried to create multiple accounts is to take advantage of special offers or promotions that are specifically intended to be one per person. The casinos have worked out their budget for these incentives carefully and they want to draw in as many people as possible with their offers, if one person is taking the amount intended to create many other customers then they lose a lot of money. The odds the house calculate are also based on a single player, you would be increasing your win rate on certain games if they allowed this. |
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Good news from Iran  . In may of this year, the Iranian government placed a ban on crypto mining over concerns of huge electricity consumption and the constant blackouts experienced by the country. “The authorised mining of cryptocurrencies does not consume much electricity and needs just around 300 megawatts. However, it is the unauthorised crypto miners that consume a lot of electricity; they consume about 2,000 megawatts," President Rouhana said, according to a local publication Iran Front Page.
“As of today, it will be forbidden even for authorised miners to mine cryptocurrencies until late September,” https://www.indiatoday.in/technology/news/story/bitcoin-and-other-crypto-mining-banned-in-iran-because-its-high-power-use-makes-it-dirty-money-1807308-2021-05-26True to their word, the ban has been lifted and only licensed miners are allowed to come back online. Unlike China, Iran has embraced crypto mining and since 2020, the crypto mining sector has issued out over 1,000 crypto mining licenses. It is a highly regulated sector. With a projection of providing $1 billion in annual revenue for the country. Iran began a process of nationalizing its crypto mining sector back in 2020 after months of dealing with illegal crypto mining activities. In January 2020, the country issued about 1,000 licenses for cryptocurrency mining in the country. https://cointelegraph.com/news/bitcoin-mining-banned-in-iran-until-septemberI believe in no time the country would make it legal for local merchants to accept payments in bitcoin since it is already being use for import payments. Bitcoin is actually really useful for Iran right now, because their own currency is essentially worthless on the world markets due to the sanctions against them. It seems like the Iranian leadership is torn between people using cryptocurrency which helps them ignore internal pressure/repression and their citizens being able to send money back home via the blockchain which will boost the countries overall funds. Iran did actually used to be quite a big player when it came to Bitcoin mining, but I guess it might have picked up a bad reputation within a country that is struggling to keep the power on for average citizens - however it is yet another source of money for the regime. |
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Interest rates in Bank in Bangladesh is below 5% now. In some Banks, it's 2%. People with extra fund used to invest in sanchaypotro (Savings Certificate) for safe and good return but in recent announcement, interest rate has been decreased to 7.71% if the total invested amount is above 3 million BDT. Isn't it a good rate? I don’t have a clear idea on it. Need to check more.
If it isn’t a good one, where will people invest the amount? Stock market? In recent days, Dhak Stock Exchange and Chattogram Stock Exchange has seen the ATH in index and for most of the stocks. Is it possible that another bull run will be occur in the near future? This is true that when people have less interest rate, they tend to invest in stock or any other opportunity they have. Due to the Covid, there’s not a lot of option available at the moment. Is it worthy to have a look and draw a pattern on Stock Market return vs Interest rates?
The general trend for interest rates paid by banks has been on a downwards trend for a long time now. In my country back in 2015 it was possible to find banks offering saving accounts with a 5% rate on them, now it is difficult to find even 1% being offered. It will lead people to either accepting that inflation will end up eroding their savings at a certain rate or you will have to start investing in certain assets. At the end of the day central banks want people to spend their money to keep the economy going, which is why they have forced rates so low. Everyone should really learn more about finance and whether the risks of investing in places like the stock market are acceptable to them, as it may soon be the only place you can get a decent return. |
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It seems like the President is more interested in coming up with these weird ideas that will benefit the country very little than actually solving the day to day situation that people are facing in El Salvador. He is basically an Elon Musk type character, living in a bubble at the top and just toying with people because it will have no impact on them personally. He is focused way too much on the micro instead of looking at the macro situation, but then this is the way of the world these days - everyone wants instant results, gratification and to be some kind of mini celebrity. I doubt Volcanic energy mining will ever grow into a big industry when there are much easier sources of renewal energy out there to access. |
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Modern-day gambling has increased the quest to gain more skills in playing the various gambling games, while some games require skills to play them, others are relatively simple to play and require little or no skills in playing them.
As the topic specifies slot and video poker are the most friendly and simple games to play for me but the two have some disparity which I will love us to discuss on this thread.
1 what are the similarities between slot games and video pokers?
2 between slot and video poker which is more technical and requires skills to play?
3 what are your personal experiences with both games?
The similarities between these two games are that you have absolutely no control over the outcome. Every play is statistically and mathematically designed to extract money from players for the benefit of the house. They will let you win 2 games and then you will lose 3. They know that repeated players of this type of game will keep on feeding money back into the system because they get a rush from the wins and they conveniently forget all the losses. Any "technical" aspect to these games is purely an illusion, adding extra features into the game lets the player feel like they have a degree of influence over the outcome and disrupts the play enough that they keep trying to unlock things like mini/side games. |
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I just remembered the poly network heist, one of the biggest heist in the history. Is there also a possibility BTC can be hacked? If it is, I bet every currency will start to declined. How safety BTC security for you? Want to know veterans answers.  It is not a question of believing or not believing. It's a factual possibility that it could be attacked if someone was able to gather enough hardware together to perform a 51% attack. China had a lot of hardware within their borders until they recently banned it and if the government really wanted to crush Bitcoin it might have been able to rally these sort of resources. The other way to break it would be a quantum attack that would have enough computing power to test every combination of a private key in a very short space of time to "hack" into any wallet. However once we reach that level of computing knowledge then even the traditional banking systems would be equally unprotected too, so nowhere would keep you safe. |
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Well this is a new development on itself to the citizens if all things would have been in place, a saying goes and I quote "experience is the perfect teacher" in a bid to this milestone journey of E-Naira, I expect them to have pursuit the experience of digital currency of Cryptocurrency adoption and study how it operate within a time frame of three years at minimum before deciding on how to improve the digital currency by launching E-Naira. Also the government should have work on setting the economy to stability and put in place strategies to alleviate hunger and poverty which could be one of the means to lessen social vises, much is expected to come along with the launch of the E-Naira as part of the Independence day celebration. The Central Bank of Nigeria (CBN) will launch a digital currency, e-Naira in October to coincide with the nation’s independence anniversary. The apex bank chief urged Nigerians to embrace the e-Naira and explained it is safer than cryptocurrencies.
Digital currency is the electronic form of fiat money issued by governments.
he central bank of a country supervises digital currency. Cryptocurrencies are not regulated by any government, reason why authorities warn against bitcoin, ethereum and the likes.
The e-Naira would only exist in digital and electronic form. Individuals and financial institutions can track transactions easier.
e-Naira local and international transfers can be made within a little time and at cheaper rates. It simplifies cross-border trade and guarantees a faster inflow of remittances. All these are fictions not base on fact, Cryptocurrency had reasonable answers to them all: 1. Cryptocurrency isn't a scam or fraudulent scheme of digital currency, it has reliable exchanges that operate and more secured than Fiat banks 2. Talking about digital Fiat currency, it involve a third party transactions and the charges are much unregulated, while crypto is lesser on transaction fee, faster and it's only a peer to peer exchange with no third party, example is when you go the market and made purchase, you don't need a third party to intermediate between you and the seller, you buy directly. 3. The word regulated in this context is been misinterpreted for tax and exuberant charges, any third party transaction is incomparable to a peer to peer one, a decentralized market has more adge then the government control system of Fiat, where you get to the bank for KYÇ related issues, time delay with excessive charges on transaction operations and services rendered while you can do these all by yourself in Cryptocurrency. To me I will employ the government to consider adopting Cryptocurrency first along side with the launch of it digital currency (E-Naira) and the citizens will decide the best and convinient choice, the teaming youths where in perplex towards the new launch but it would have been so good if Cryptocurrency adoption goes along with it. To be honest Nigeria has a lot of other problems that need solving before people can trust it enough to run a competent cryptocurrency system. There is little need for yet another altcoin and it might be vulnerable to outside manipulation because it does not have the scale to thwart attacks. It would have been much better to simply focus on building a competitive crypto exchange that allowed people to store and withdraw funds, without trying to cash in on a new clone. I have a feeling that this will fade into obscurity, however the original founders will obviously cash out a portion as soon as it is available. Unfortunately the government in this country has a long way to go before it is trusted to manage such a program. |
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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"  I'm not sure what you mean by "approved"? Almost every developed country in the world allows people to buy and sell bitcoin as they please. Tax laws have started to catch up and it is now just being treated as any other income or expense. People are caught up in this infatuation that Bitcoin must be an officially adopted currency in every country when it is simply not realistic. It has already achieved the main aim - a globally accepted and completely decentralized currency acting as virtual cash. What you need to be condemning is countries like China and Russia who are taking steps to outlaw it because it threatens the elites in charge - that is the real risk to freedom in the world. |
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Live football bet has been popular among gamblers and it’s popularly known as visual games this method of betting is like playing dice as it is all about the number predictions but again there are some peculiarities between both gambling games, one involves high risk and the other is based on luck. Between playing dice and football, visual prediction, which will you prefer as a passive gambler.
Beyond them both being a form of gambling I think they are completely different. When you talk about "dice" games almost everyone is referring to the online version, but I guess it's equally true of the real world version, you have absolutely zero control of the outcome and it's based on pure luck. However there are elements of sports betting that make it possible to outplay the bookmakers at times, but you have to be extremely fast to maximize any potential from this "visual" advantage. There are many small advantages you can get from soccer games if you watch the sport day in and day out, you might see a new line-up on the team is drastically reducing their performance and bet on that idea in-game to make a small profit. Heck, there is a huge syndicate in Australia taking advantages of small discrepancies between crowd sourced odds and bookmaker odds, they're making millions per year using automated tools. |
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Source : https://www.google.com/amp/s/www.nbcconnecticut.com/news/local/sports-betting-to-begin-in-connecticut-thursday/2592576/%3famp Whosoever is living in Connecticut, there is a good news for the gamblers there, the sports agency have approved the master Gaming license. It would be on-reservation sports betting plus the players would only be allowed place bets on temporary sports book. Apparently they are still waiting on some documents from the lottery and therefore it would take time before the license can be finalized, but they are introducing it partially. Company calling it the soft launch. Quote from the source: The Department of Consumer Protection has approved the state licenses that Foxwoods Resort Casino and Mohegan Sun need to launch sports betting, while the Connecticut Lottery Corporation says it's aiming to roll out the first phase of retail and online sports betting during the first week of October.
The state agency approved the “master gaming licenses” for on-reservation sports betting on Tuesday for the two tribal casinos in southeastern Connecticut. It comes a day after a recent decision from the U.S. Department of Interior, which approved an amended agreement between the state and Mashantucket Pequot and Mohegan tribes that allows legalized sports wagering, online gambling and other new forms of betting, was published in the Federal Register. Overall this seems like a really positive move for the gamblers out there, soon enough there will be better options for players to gamble safely within the regulations as well. What do you think of this news?? It's great news for Connecticut, it's just the whole American system is baffling to me - 50 states all working at different paces to create and repeal different laws seems like an incredibly wasteful exercise. I guess it's a way for politicians to keep getting work for themselves. I guess all of these states are seeing the large amounts of revenues that the Indian reservations make, they know people are gambling anyway so might as well bring in that tasty cashflow to the state in the form of taxes. It's even crazier that they did not even allow lotteries to run there, as they could be considered the laziest and least intrusive form of gambling, however if they are properly run can be a great boost for the coffers. |
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Astounded by the amazing success of Bitcoin implementation in El Salvador, anti-social elements sponsored by the USD lobby have started vandalizing and destroying the Bitcoin ATMs installed by the government. The Bitcoin implementation has proceeded relatively smoothly and this has angered those who were expecting it to fail. I don't expect them to stop with this. The next step may be rioters beating up anyone who is using Bitcoin and vandalizing shops that accept BTC as a payment mode.
The article doesn't mention anything about these people supporting the US dollar, so your thread "headline" is false and deceitful. These people are protesting against Bitcoin because it is symbolic of the current government who are applying band-aids to major wounds in the country. Having a second official currency doesn't change anything for the average person in El Salvador and it is actually even worse now. As the government decided to go on a spending spree with taxpayer money that could have been spent on improving roads, education, utilities or any number of other benefits to society. Instead they choose to waste money buying up this highly speculative cryptocurrency and force the citizens to pay for their gamble. That is why people are protesting. |
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Entain one of the world’s largest sports-betting and gaming groups gearing up to granted a Dutch gambling license in first half of 2022. The company plans to submit its license application in the fourth quarter of this year. The Netherlands had in April 2021 passed a law legalizing online gambling and operations are to abide by its very strict demand. It should be noted that awaited online gambling market opens midnight on Friday 1 October. So far only ten entrants will be allowed to operate while the applications of other companies are under review. Some of the companies that will be allowed to operate include; Play North, Bingoal, Toto Online, Holland Casino, NSUS Malta. https://casinobeats.com/2021/09/29/ksa-confirms-first-players-in-dutch-legalised-online-gambling-marketplace/It's scary to look at the share price of Entain, it has skyrocketed during the pandemic and that means a whole load of people have lost a whole load of moeny to them. I think as the world gets back to normal this company will return to lower levels, so they want to keep the ball rolling as long as possible with things like an expansion in to the Netherlands. They definitely have a huge range of gambling operations and this puts them in a prime position to make the most of this gambling license. It's actually surprising that the Netherlands is so slow to adapt and protective over gambling considering all the other vices that their country have a reputation for allowing. |
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I hate that I cannot save money effectively because our government loves to inflate problems away at the expense of my savings... bitcoin and altcoins are our greatest hope in returning power back to working middle-class people.
your thoughts?
People who come up with thread titles like this clearly have a lot to learn about life and finances. Bitcoin doesn't make you free at all. Just like a dollar or a peso does not make you free. Accumulating enough of any currency that can support your desired lifestyle is what gives you the freedom in life. Every currency is just a store of value that we exchange for goods or services. Bitcoin doesn't produce anything either, unlike investing in a company that produces goods or does something for people, which can then return it's profits to shareholders (aka the owners). The only way the value of your Bitcoin goes up is if you trade your local currency for more, or the price changes due to factors entirely outside of your control. |
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It seems the regulator is aware and concern with the increasing number of new gamblers, especially young people who engage in the gambling industry. That will not yet include kids who are trying to access gambling games using their gadgets. As Advertising Standards Authority (ASA), the UK’s independent advertising regulator, will host a webinar for the gambling industry on Tuesday, 28 September. Source: https://www.gamblinginsider.com/news/13274/asa-to-host-gambling-advertising-webinarThat webinar will discuss gambling advertising, including scheduling and financial claims, hoping to control the gambling ads that can make children, young persons, or other vulnerable persons want to play gambling. Maybe there will be a change in schedule for the gambling operators to show their ads in the media so those people will not watch too often and do not make them curious about gambling. I tend to agree with the regulator in protecting those people because it is easy to make people try something that makes them curious and let them stay for a long time. 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. Unfortunately regulators are like whales - big behemoths that take ages to change course and find it hard to adapt to new environments. Gambling operators are more like sharks, they can change direction at a moments notice and are ruthless with their targets. A seminar just sounds like the very early stages where they are trying to gather feedback or offer "guidance" to companies that are using these methods. However an effective regulator needs to take control and lay down the law as they've let this area drag on for far too long. This could have been identified as a problem 5 years ago and yet they are still messing about trying to find a fix. |
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