Isn't that basically what bitcoin is?
We can hardly buy anything with it. We just give it value for the sake of giving it value.
Matter of fact, let's do just that for the heck of it, see how far we can go with it. I'll pick up a rock and call it Akorn and put it up for $10. I'll buy it back for $10 and let's see how much it'd be worth by the end of the year.
I think that is a bit of an unfair comparison. If you are creative enough there are actually a lot of outlets to buy things with Bitcoin and it is possible to buy most physical goods with in these days. There is less accessibility for purchasing services (like covering a trip to the dentist) but even that can be solved in a sense with access to Bitcoin ATM machines. I'd say it has actually achieved a lot in the ten years it has existed so far, considering it is a brand new payment method - not like a new debit/credit card provider who might just piggy back off existing infrastructure and has everything laid out already. Every day we see new outlets for it and that seems like progress to me - good luck trading much for your collection of rocks. |
|
|
|
I couldn't put the full title in the subject line due to character restrictions, but here is the full question:
If bitcoin was fully adopted into everyday life, why would it ever be used for day-to-day transactions if the general consensus was that the price would always appreciate?
After reading several posts on this forum many people seem to think that Bitcoin will always go up. If this were to be the case, why would people spend Bitcoin at all? In this theoretical time, wouldn't it just be a poor financial decision to do?
Or is it thought that in this future where there is widespread adoption the price would stop being so volatile and for the most part stabilize?
It's a good question really and leads to the point that Bitcoin is actually a victim of its own success. It has become such a desirable asset to own that people would rather hoard and hold on to it, rather than use it for the original intended purpose - which is a commonly used and functional virtual currency. Sure some people are using it for this purpose, however it seems the vast majority of buyers (as this forum is a perfect example of "HODL" culture) have little intention of spending it without cashing out a vast profit first. This combined with the natural depletion rate due to lost wallets and unused "dust" will ultimately wipe it out as a usable currency - it will become a novelty like gold that few except the super rich will find helpful to acquire when their are lots more altcoins taking its place. |
|
|
|
Most online gambling companies claim that they are ethical providers who are committed to corporate social responsibility (CSR) practices.
They propose, that their CSR are targeted at preventing or minimizing the harm associated with their activities. However, we are aware that those who are severely addicted to gambling have shown several mental and physical health, social relationships and academic and work performance issues.
Have these companies taken any steps to minimize the harm related to online gambling? Is their CSR functional? Not all bet sites encourage responsible gambling because they rely on revenue from the losses of gambling addicts. My question is, should online gambling companies be responsible for the harm related to their activities because of their current failures in the implementation and control of CSR policies?
As you said, they "claim" to be ethical and adhere to socially responsible play. The alternative is they ignore any pleas to help out people with gambling addiction, make lots of money in the short term but get the wrath of politicians who then are forced to create more punitive laws against them. This way they are effectively soft lobbying to be left alone, trying to walk a fine line where they can continue to target vulnerable people in different ways but show their "good" credentials when asked what they are doing to help the situation. It's basically goodwill shopping. Luckily in my country the gambling regulator is relatively effective and forces many companies to offer an opt-out service which allows people to self ban themselves for certain lengths of time if they feel like they've lost control. |
|
|
|
There is a popular opinion in the locale that "A man who has money doesn't easily get angry or offended, lol". This statement goes the other way as well, that "A man who doesn't have money is easily offended by everything and everyone". I have put this statement on analysis a lot in mind, trying to watch my mood and correlate my happiness with the amount of money I have each time. Everytime it seems like i have overspent and almost becoming broke, there is a feeling of irritation and sadness that comes with it. Also when i get some credit alerts, there is an associated joy. I know it is not proper to tie your happiness to finance, but i did some research into the subject and found a study that was conducted with the result that happiness increases with the amount of money one makes up until a point where there is no greater degree of happiness from making money, but unhappiness if ones income drops beneath that range. (See study here - https://www.cnbc.com/2017/11/20/how-much-money-you-need-to-be-happy-according-to-wealth-experts.html) What is your opinion on the subject of "money & happiness"? I think the first statement you make is a very astute observation and something that only a man who has accumulated a fair wealth will actually understand. That is because wealth accumulation often requires lots of self control and learning how to manage your finances. To many people the extent of their financial knowledge will encompass a credit card, savings, a mortgage and loans - with the rest remaining a mystery until they die. However there is a whole world of information out there for the taking that can really help you understand how business and governments really work. Another key trait that the person with money has learned is patience - it can take a lot of time and effort to build up your riches, so you must make a long term plan instead of chasing short term get rich quick schemes which often sap away your money and leave you with nothing (again). |
|
|
|
I know many people bet on boxing matches and I recently saw a post on an "slapping tournament". I was thinking that professional boxing is kind of questionable as a sport discipline and even more so as a gambling event. It is known that many boxers sustain long term effects of repeated micro-trauma and even some have been know to die in the ring. For all boxing fans and for others that may have a view on this, how is this being considered a fully legal activity being supported? And how is betting of people hitting each other being considered as legal and ethical in today´s world?
It's interesting that you mention head trauma because American football has built quite a reputation for causing the same kind of damage and it could potentially be much worse (imagine one of those quarterbacks charging at you full pelt and you running straight towards them). I think we should be researching and teaching all athletes about the potential brain damaging effects of sports at an early age - not to scare them off, but to make sure that they are fully aware that it may cause difficulties elsewhere later in life. Either that or you need to see if adding much greater padding protection to absorb the hits will be able to mitigate the damage far enough. |
|
|
|
If I had some bitcoins before I got married, and used bitcoins to buy houses, cars, etc.
When the price of Bitcoin went up, I sold Bitcoin. Is this my money my own? Or is it shared by husband and wife?
When I get divorced, do I split up my bitcoins?
It will be treated like any other asset you own and this question is highly dependent on the laws of the country that you live. In most situations, unless there is a valid prenup present, it would be split according to whatever is agreed by both parties. Now, I would not condone it but unless she knows about the Bitcoin or you have somehow declared it, then it is very possible that you could get away with not disclosing it. You would really need to speak to a legal professional in the right jurisdiction to get the answers you seek - don't rely on random strangers advice on an internet message board. Good luck with the outcome anyway, must be a tough time. |
|
|
|
It may soon change due to inflation, but as of now we live in a crazy world with the Euro - it is called the wonderland of negative interest rates. For those who are not in the loop, it works like this: You lend me 100 euros and I promise to repay you 99 euros. My first question, how much would you like borrow under these conditions? I was speaking with a friend that wants to buy a house, mostly on credit as it is usual in many places. He was saying that he wanted a 25 year mortgage because he would like to have the house paid as early as he could. However, my take on this is that given the ridiculous interest rates, I would rather do like Europe or US and have that debt ... forever  I think you have this a bit backwards. The banks are charging people to store money in their accounts because central banks want people to spend money and not hoard it like they are waiting for a rainy day. If you borrow money for a mortgage presently, the effect of inflation each year achieves what you describe because the price of your house increases each year more than the inflation rate, causing your original mortgage debt to be worth much less than the value of your house in the future. Banks in Europe are currently only enforcing negative interest rates on holders of large amounts of money and this is not seen by most people. Regardless of that, the banks are likely to bottom out slightly above zero because they will always need to make a profit and will just stop issuing loans in the scenario you suggest - as it makes no sense to them (as you have ignored the interest rate of the loan in your example). |
|
|
|
What do you think of sexy casinos? Do you think it's a good thing? Have you ever tried any? What is your favorite one? For those who have never heard of that and who are asking what I am talking about precisely, Iv4n found these 2 old threads about few of them. Thanks to him. We have these two threads about sexy casinos! I think it's very nice for all nudity lovers, and sure I am one of them! I didn't try these casinos before, but I will sure give it a try once... when I send my wife and kids somewhere! 1. https://bitcointalk.org/index.php?topic=3278639.02. https://bitcointalk.org/index.php?topic=5255637.0I guess it can be a nice entertainment with this nudity & gambling combination. We all know that gambling and porn are not for the ones with a weak heart, so people should be careful when trying this! A little joke of course! It certainly adds a twist to the casino experience, however it may be bad for the players if they're engaging in too many vices at once! I can imagine some people might be drinking, gambling and taking in the nudity - that might be a dangerous mix for those with a weak heart! I'm not sure it adds much to the experience if we're just talking about online casinos, because nobody really needs that added to the mix, but it might be worth a visit in a live casino. That being said, most governments are usually pretty strict when it comes to licensing strip bars and casinos, they might not look favorably about issuing a license for both in the same place. |
|
|
|
excuse my ignorance, but in saudi arabia are bitcoin laws friendly? because i remember reading somewhere that in saudi arabia they didn't want bitcoin, i can't remember where the hell i read this.
Anything will be legal in Saudi Arabia, as long as you have the right connections and the right amount of money. There is no reason that they would be explicitly against cryptocurrencies that I can see - it's not in any way against their religion like gambling or "adult entertainment" related. If they were able to install enough solar panels to cover the cooling and power expenses on the right scale then theoretically they could make it into a profitable income considering they have an endless desert to fill. The laws might not be friendly to bitcoin, but they are not necessarily unfriendly either, so it might be a good place if you can install enough capacity. |
|
|
|
Hello community, I want to place some bet on some games in the Olympic and am wondering where I can get correct scores with good odds; I know there are few fixed games that user can help me with info that
What a bizarre suggestion. At the Olympic level with tens of millions of people watching you're much less likely to find any sort of fixing because it usually comes across as obvious to the large amount of people who watch that sport regularly. Admittedly you'll sometimes find situations where teams lose so they can get a more favorable opponent in the next round but at the later stages of each medal run this becomes less likely - you might have been better to ask this question at the beginning of the games. On a second note, if somebody does really have access to such information from reliable sources - it is going to potentially make them a lot of money and cost them a lot of money to find out, it is not something they are going to release for free to everyone. Never trust anyone who claims to share such information with you from this forum. |
|
|
|
Google has begun to accept advertisements for Bitcoin, and Google lifted its ban on advertisements related to Bitcoin and other cryptocurrencies. Starting August 3, companies using Bitcoin and cryptocurrencies can once again advertise on the search giant and various websites that are part of its platform. The ban was implemented in March 2018 to comply with the new regulations of the Financial Crimes Enforcement Network of the United States (FinCEN). Article Source: https://updateonbitcoin.com/google-lifted-the-ban-on-advertising-related-to-bitcoin/It's a pretty solid endorsement of Bitcoin to have one of the leading companies of the online world start accepting it. This is almost bigger than if Amazon were to eventually accept Bitcoin (even though they have denied the story so far). The google advertising network has huge reach and will now be allowing cryptocurrency related adverts, that could result in a massive uplift in the exposure that many people will see online. Hopefully they are able to monitor it and protect the end users from being subject to scammers - but that can happen even with fiat currency. Possibly some of the biggest news to come into the cryptocurrency space for a while, if it's true. |
|
|
|
We all heard that every one looses at the end in gambling....yes we may win here and there...we may win some big amounts but overall in long term we always end up in loss....this is the story with me as well overall i am in big loss....
I just want to know is any one here in this forum who is in overall profit in gambling...
Unless you are able to manipulate the casinos on a grand scale then they are generally too good to beat and if they have any "leaks" then they will find a way to plug that hole. They know exactly where the most profitable areas of their operations exist, even if they are just making a 1% profit margin on a game - due to the repetitive habits of gamblers that can make them a lot of money. It's possible to beat certain games long term, like poker - but you have to beat the house and other players on a consistent basis. You'll be fighting against many ruthless players who have been into the game for many years and learned all the tricks. I've made small profits in the past but it is so easy to slip up and pour away money with just a few clicks. |
|
|
|
I wagered alot there recently and currently I am Platinum 4, when I got assigned VIP host ’Steve’ I messaged him on Telegram asking for my bonuses just for him to block me and no response.
They currently owe me Platinum 3 and Platinum 4 bonus which I am due to receive, their live support is not being supportive or anything either.
I recommend staying away from them until I’ve received my bonuses.
As others have said - it's hard to do but unless there is some form of proof then it is basically an empty accusation. It might be worth considering "ignoring" any bonus amounts that are offered, especially if it requires some sort of manual intervention by a staff member before any amount is released. While nobody should be deceived at any part of the process, if you are relying on amounts that are received from these extras then it usually means that you have wasted a lot of money and are trying to claw back tiny amounts from some sort of account rake. It may be time for you to step back, re-evaluate and stop playing if you're only chasing losses - in the long term that will do more damage to the casino than feeding them more money and will make your mind more restful. |
|
|
|
I then tried to withdraw, and I had the same message. I did contact the support, and they quickly responded: Hello Axx, we will look into your problem and get back to you shortly. But 10 days later, no news. I emailed them 2 days ago, no response... It is still impossible to withdraw (message "you did not play 3x the deposit amount"). What is your experience with rocketpot.io? Any chance I'd be allowed to withdraw?... It definitely looks like a bait and switch. You should stay away from small companies that are offering vast incentives to random users as they rarely have the financial reserves to complete it. In fact this definitely fits the profile of a ponzi scheme, where they are dangling free money in front of people in order to get them to deposit lots of money to "unlock it". However the end result is, that money they enticed you with never actually existed and now they have hundreds of dollars of your money as well. If they do this with enough users they could easily disappear or claim to be hacked and sail off into the sunset with nobody able to find them. Your best bet is to take any free coins you get but never deposit a penny in order to cash them out, just accept that until you get control of them (with ZERO strings) then it doesn't really exist - it's just a made up promise. Take it as a lesson and move on. |
|
|
|
In the Aspen Security Forum, Gensler requested authority from the US Congress to regulate cryptos strongly describing them as a Wild West full of fraud, scams and abuse. There is something to be said about the leader of the organisation that allowed Madoff to run a Ponzi for decades speaking about crypto being a problem, but to be honest I cannot blame him. While the majority of the crypto community are honest people, the naivety of many has given wings to the thieves and fraudster. My take is that regulations, particularly in US are not going to make a difference for most people. At the same time, he is admitting that crypto will become mainstream. At the end of the day the government could crack down very hard on cryptocurrency users if they thought it was vulnerable to a lot of criminal activity including money laundering. Many people in history have lost a lot of money by underestimating the effect of the US government - there have been large scale payment processors used over many years that eventually got shut down because they were abused in this way. If enough media attention gets focused on the negatives and new laws come in criminalizing behavior like owning Bitcoin, then it would very quickly be abandoned by all but the most hardcore owners out there - causing a massive slide in the price and further disincentivizing new buyers. |
|
|
|
Observing the cryptocurrency market, we found that although most cryptocurrencies have price differences, most of them will fluctuate with the price trend of Bitcoin. When the price of Bitcoin increases, most other cryptocurrencies will also increase, and vice versa.
Is this trend due to large accounts operating on multiple exchanges or countless retail investors carrying price differences? Or is it caused by other operations?
You'll actually find a similar trend within the stock market - both with the market overall and with certain industries within the market. For example you might find a short term situation where pharmaceutical companies undervalued, water utilities overvalued and bigbox retailers undervalued. When people are afraid there can be a stampede for the exit and everyone tries to get out. Sometimes there is forced selling involved or leverage which can amplify the effect on the way down, causing domino and ripple effect. If somebody loses on Bitcoin, they might decide they want to cut their losses in all cryptocurrency and run - never to return. To answer the question you would have to be able to perceive the independent actions of millions of people living complicated lives and the psychology that drives their trading decisions. |
|
|
|
We all know that there are games like Dice, Bustabit and other very popular in crypto casinos. The minimum amount that people can bet is usually 0.00000001 BTC.
The value of 0.00000001 is more than 70x high compared to 2016 year. So, the current 0.00000001 is equal of 2016's 0.00000070 satoshi. How does this price increase affect the crypto business? Do you see less profit in bitcoins and or in USD? Or even very significantly higher? Its understandable that years of marketing had it's effect on business but if we somehow make equal statistics, compare the fixed amount of average bettors of 2016 and 2021 year, how do the statistics look? Or how are old but still active bettors doing on your casino right now?
How much of your reserves are kept in Bitcoin and in USD/Euro? Do casinos trade with their coins when a serious rise or crash happens?
Would like to hear opinions mostly from the representatives of different crypto casinos that also operate on this forum.
It would make sense from a business point of view for cryptocasinos to cash out after substantial rises in the bitcoin price, but then again that is mostly going to be the profits that they have creamed off from losing players anyway. If they have too much cryptocurrency around they may be susceptible to lose a substantial amount after any big price drops and it always pays to be diversified. Naturally casinos will have volatility in the amount of winners and losers, combining that with the volatility of the underlying currency makes them very unstable - I bet the owners are more than happy to convert it into more stable formats but with a big enough "float" that they can survive a few weeks of bad losses (worst case scenario). |
|
|
|
Some folks despite the visible positive impacts of cryptocurrencies and reviews from Jack Dorsey, Elon Musk, Michael Saylor and other popular crypto advocates have refused to change their stance on it. They don't just oppose Bitcoin or other cryptocurrencies but they wish it would die. For example, Buttcoin is a reddit forum where Bitcoin is "crucified" daily. In that forum, Bitcoin has been called "a scam", "a negative sum game". Also, David Gerald who is an anti-crypto activist has publicly cleared his hatred for cryptocurrencies and blockchain technology. According to him, “I think the future of cryptocurrencies is that it will become increasingly regulated and normalised. People want regulation of this because they want to know where they stand and what they can do with this sort of thing. I think that speaking technically they are junk-quality assets. They are not backed by anything they are volatile as hell. They have a price because people will pay for them and that’s all.”
My Questions now are, Why do some people hate cryptocurrency so much? What's their back story? Did they ever lose a huge amount of money in cryptocurrency?
It's rather funny that people see endorsements from someone like Elon Musk as real proof that he supports it. He is an egotistical show-off who is good at playing the media to get the response that he wants (most of the time). Elon is good at following trends or what is "hot" right now because it has favored his Tesla business in the past. He knows that his twitter followers will blindly jump at his command and has manipulated the price of cryptocurrencies like Dogecoin for his own amusement - if they were regulated properly then he would likely be facing fines or fraud charges (like the penny stock traders you saw in Wolf of Wall Street pedaling trash). When the SEC reprimanded him and threatened his position at Tesla he had to find another outlet to toy with his minions. |
|
|
|
There are plethora of online casinos (gambling sites) which accept popular cryptocurrencies like Bitcoin and Ethereum. This is good because you can place your bets anonymously without all of the hurdles involved with Fiat. No KYC, means freedom. The only downside is that you'll be missing the experience of gambling in a real world setting. Physical interaction is not the same as going virtual. I've been wondering what's been holding back real world casinos from adopting crypto? It is because they fear a government crackdown? Or because of crypto's volatility? With how popular crypto/Blockchain tech is right now, there should be at least one physical casino you can go to and place your bets with crypto. Thoughts?  It seems like real world casinos have a problem already with how exposed to money laundering they can be, people are expected to walk in with thousands of dollars in cash and it is well known that "the house" is designed to take it all if given enough time. That means they are heavily exposed to accounting fraud and probably have a pretty tough time proving all their income is clean to the government already. Crypto is popular online, however it is generally being used as a speculative commodity by itself and people expect to gain money just by holding it. If it was more like a currency that did not swing in price heavily from day to day then someone might come up with a reliable system to accept it. |
|
|
|
In June of this year, at the Wynwood's Mana Convention Center in Miami was held the "Miami Bitcoin 2021 Conference", which is the largest event in the history of cryptocurrency. This meeting delivered positive news. The cryptocurrency represented by Bitcoin has achieved a deeper consensus, and the legal status of Bitcoin has been more clearly determined. The Mayor of Miami has gained a reputation in the cryptocurrency community for his support of Bitcoin and the incentive plan designed to promote the adoption of digital assets throughout the city, and said that Miami will become the capital of Bitcoin and launch the city's cryptocurrency MiamiCoin. According to reports, Miami will launch its own cryptocurrency MiamiCoin (MIA) on August 3 local time, to fund infrastructure projects or activities in the city and encourage people to move to Miami. MiamiCoin is built on the CityCoin platform, users will be able to mine MiamiCoin, borrow money, and even program it. The city government can earn cryptocurrency rewards while supporting the city, and token holders can also earn bitcoin income. But the MiamiCoin project is experimental. Don’t know if it can bring income to the city and how does it allocate Bitcoin as a reward? https://decrypt.co/77487/miami-cryptocurrency-miamicoin-launch-bitcoin-rewards?utm_source=reddit&utm_medium=social&utm_campaign=smIt all feels rather gimmicky and is unlikely to last long, it might actually damage the reputation of the blockchain if it is poorly implemented. For a cryptocurrency to be widely adopted, which is often crucial to it's success and the integrity of the transaction chain, then it needs to have a wider purpose than advertising one small region of the world. It seems like a duplicated and wasteful effort that is only being implemented because the officials have run out of outlets to spend taxpayer funds. Rather than directing them to hospitals or roads, they are chasing these pipe dreams in an effort to look "hip" and relevant. While I don't think most large and existing cryptocurrencies are wrong, this feels much like a local government backed pyramid scheme. |
|
|
|
|
Show Posts
