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3581  Bitcoin / Bitcoin Discussion / Re: Bitcoin’s Bull Market: A Long Road Ahead on: July 19, 2021, 08:18:40 PM
Take a perusal into what awaits Bitcoin in its ascent to glory!

https://altusfinance.medium.com/bitcoins-bull-market-a-long-road-ahead-c5abb0c019e1

It feels like this belongs more in the speculation section of the forum, many people have predictions on the future of Bitcoin but we are all just guessing. At the moment we seem to be in a downward trend and from the articles that I see on mainstream website there is quite a bit of negativity getting attached to Bitcoin in particular. It will definitely always be known as the ground breaking pioneer cryptocurrency but a lot of altcoins are now looking very promising and coming along with ideas that make them a lot more sustainable into the future. Ethereum in particular is getting popular and has the ability to expand with demand in future - which will be essential if it needs to be used for many millions of transactions each day.
3582  Economy / Economics / Re: Food prices doubled this year on: July 19, 2021, 07:38:37 PM
When i have time i go to local market to check prices

Vegetable prices doubled
Fruit prices doubled
Meat prices around 30% increase
Grain products around 20% increase
...

And my country  is a exporter of food products

How is it in your country ? Same ?

My country is Romania
We tried to ban exports of grain ,but stupid EU intervened...

I doubt the farmers who are growing the produce, which pays into the tax receipts of your government, are complaining about the ban being struck down. Trade barriers work both ways, if your country starts blocking certain exports - instead of becoming more productive - then in future you might find that certain imports start becoming more expensive in return. People always look at the short term but are in many ways ignorant to the bigger long term picture. The last year during the pandemic has broken down all sorts of supply chains and it is only foolish people who jump to the wrong conclusions too early, then make rash decisions which can have unintended side effects of making the situation even worse for all.
3583  Economy / Gambling discussion / Re: Terms and condition a must read before signing up any online gambling site on: July 19, 2021, 06:18:19 PM
A whole lot of persons have shared their experience lately how some online casinos tend to frustrate them during withdraws, declining their uploaded certificate s for KYC verification. In my own opinion I would suggest before clicking and accepting any terms and condition given by most of this casinos it's better one analyze what he/she is signing up and understand to what extent one can easily deposit and withdrawal from such sites

Gambling is gradually becoming an occupation mostly now where vertically everything is done digitally and many get their major source of income gambling so it wouldn't be wise if after accumulating series of progressive winnings you find it difficult to withdraw from such sites.

I'm not good at referrals so I don't get blamed if the unexpected occurs in your cause of gambling but I recommend you do thorough research before depositing your hard earned token on any casino to avoid getting your self worked up by the so called casino sites.

Lastly gamble responsibly its better to earn in cents than to loss in dollars get other source of income to complement your gambling so you don't lose out completely on your fund because gambling remains a game of probability and so responsible approach keeps you in check

Referrals is a good example of reading the terms because many gambling sites actually make it super restrictive and only offer the best promotions to people who promote real friends. If you go around sharing your personal referral code in random places expecting a big payout, you might find that they withhold all the money after you put a lot of work into it. They expect people to use their less generous affiliate programs if you want to start earning from promoting their services via other avenues online and you might need to "level up" through certain thresholds to get the best payouts for your referrals. Be sure if this is your plan to make money that they totally allow what you it and the methods you will be using.
3584  Economy / Gambling discussion / Re: Gambling on friendly matches on: July 18, 2021, 08:40:32 PM
The most common friendly matches are both the international  country and club friendlies, long time ago I have seen these type of matches as a way to bet and have fun, many of my betting result are positive most especially if I bet on a single match. The country or club that will win is not certain but I noticed staking on over 1.5 or over 2.5 is always most of the time results to a good outcome.

I am not saying this is a risk free bet, no bet is risk free, but I noticed this type of match most of the time results to many goals scored which makes better for taking over 1.5 or over 2.5 and the games are won.

Some people still like to accumulate, the accumulation can also be positive and won but the more the accumulation the more the high chances of losing. But I do not still see any wrong in accumulating 3 matches, though the chances to lose will increase because as one match lost result to the nullification of the bet, I prefer just a single game in a week.

What do you think about staking on over 1.5 and over 2.5 on international friendlies (both country and club friendlies)? Or do you prefer to go for straight win or draw?


In theory friendly matches should be as competitive as any other game, you might even find newer players trialing for the team to see whether they can stand up to the pressure - in which case they are likely to fight harder to impress. However it is a bit of a catch-22 because friendlies might actually seem more acceptable to "rig" if such activity was going on. I remember watching blatant cheating by two basketball teams in the Philippines who were both trying to lose, so at the lower levels of football this certainly seems like a possibility and friendly matches is exactly where cheaters might try to target if they want to ease their conscious a little. To be honest, any decent bookmaker is well aware of all the odds and make even limit the over/under possibilities automatically if they see such trends.
3585  Economy / Economics / Re: FBI aims to keep valuables, $86M cash confiscated in safe deposit store raid on: July 18, 2021, 08:34:08 PM
Interesting story here.

The FBI confiscated more than $86 million dollars worth of money, valuables, jewelry and items stashed in safety deposit boxes, in a raid. Despite a search warrant which expressly forbid them from confiscating anything contained in the boxes.

This happened in los angeles. Of course, this being america there were lawsuits filed. But it seems the FBI and the state have no intent to return much of the stolen items. Despite them not having filed lawsuits against the holders of the property or providing evidence suggesting any of the assets were involved with illegal activity.

There have been claims of the DEA (drug enforcement agency) confiscating $100,000 from the safe of legal medical marijuana retailers. Without the lost funds being returned. But this is on an entirely different level with more than $86 million confiscated. Not from fringe operations like legalized weed. But from middle class or wealthy americans, who don't seem to have been involved with anything illegal or sketchy.

It's pretty disgusting how law enforcement operate these days and this is (one of many) prime examples out there. The moment that police departments were allowed by law to seize goods and use the funds from those seize goods to fund themselves, was part of the whole system breaking down. Besides the fact that they have willfully ignored the judges orders (which should be a case for dismissal for any police officer directly involved in seizing the goods) they have a perverse incentive to take as much property as possible, if it will be eventually sold for the benefit of their city budget. It thoroughly breaks the "innocent until proven guilty" bedrock of society that America was built on and is one of many things that needs rowing back on for stability and faith in the police to return.
3586  Bitcoin / Bitcoin Discussion / Re: Bitcoin is reconstructing the current law system of human society on: July 17, 2021, 10:38:43 AM
So why do I take Bitcoin’s reconstructing human law system that seriously? Let’s take a look at the essence of law first.

As we all know, law exists in all corners of human society, which would fall out-of-order and civilization would be out of the question without the restraint from laws. The consensus among different subjects in the contemporary civilization system are reached through the establishment and application of laws. Yes, law is for the restraint of human consensus. The changed law system because of Bitcoin indicates the fact that the consensus of human society is constantly changing as well. The birth of new consensus means the appearance of new human civilization. That process won’t get finished overnight and that’s irreversible.

These are my opinions. How about you?


I think that people who are heavily invested in Bitcoin end up in a sort of tunnel vision mindset. The blockchain has proven itself to be a very simple and useful tool for tracking transactions that is relatively free of external interference while being universally accessible. Bitcoin and other cryptocurrency is definitely subject to the laws of wherever individual owners reside, however governments tend to be slow to adapt to new technology- they will definitely adapt when it comes to bringing in tax receipts. Bitcoin is causing new laws to be rewritten but it is far from beyond the reach of the law.
3587  Economy / Gambling discussion / Re: Your betting budget on: July 17, 2021, 09:53:10 AM
I kind o like feeling in control of my finances and that means controlling my spending and being very aware of what goes in and what goes out. I normally check my accounts every month and may make a few decisions on what to spend next month if things are not looking correct. One of the things I do is to set aside 10% of my income for things that I really do not need - expensive clothing, gadgets and electronics, books, games,... and part of that is gambling. For me, a reasonable gambling budget is 3 to 5% of my income, although I may allow more if I have some extraordinary income that month. How do you plan your gambling or fun budget?

It sounds like you are much more responsible with your finances than most people and are able to organise a budget before all else. I think it's a good idea to keep your budget below 5% and ideally get to the point where you are able to cover any expenses from previous wins - however this will depend on whether you are trying to win (e.g. poker or sportsbet) or just doing it for a thrill (e.g. slot machines).
3588  Economy / Economics / Re: Only young and naive guy believe in high risk high return on: July 17, 2021, 08:51:40 AM
Only young and naive guy believe in high risk high return

In the world wars, young and naive people go to battle field and fight each other to death, they take risk to protect the war that they can never win, while they’re being manipulate by the other group of elite who do not like to take such risk. These elite tell the young people to take the risk despite they know it’s risky and they don’t want take the risk but want someone else to take such risk. Many people died and sacrificed in the war that can’t be won. The elite do not take the risk, not only they didn’t take risk they also profit a lot from the war, for the people who love to advocate high risk high return, NOPE you’re wrong, they take no risk while they can make the maximum profit that those of you who take risk can only dream of.

There is actually more to it than being naive. One thing that an older investor will tell you is that younger people have one of the most important assets when it comes to finances - they have time. That allows them to make mistakes and recover much easier than someone later in life who has less room for error. Naturally there is also a learning curve where people have to make and learn from their own (hopefully small) mistakes to become wiser.
3589  Bitcoin / Bitcoin Discussion / Re: People still don't know about Bitcoin on: July 17, 2021, 07:46:31 AM
There are many people who still don't know about bitcoin or other cryptocurrencies. I don't know about others I am talking about my country and about my society. Whenever I ask from people about or talk about the Bitcoin. They ask what is this?

How much there is who face this problem?

There are many people who are 50+ who will only have heard about vague references to Bitcoin in the news and will never know anything about it. They will never need to use it in their lifetime, especially as it has become more like a commodity rather than a functional token used to buy stuff. It is probably for the best because they will be much more susceptible to losing money in things like scams or fake adverts.
3590  Economy / Gambling discussion / Re: Gambling or playing? on: July 17, 2021, 05:56:05 AM
I am sure most of you have played videogames of one short or another and many have noticed that may offer gambling in-game options - I am thinking mostly of Role Games and MMPORGs -  like implementing a casino or some short of fortune game. As an old example, Fallout New Vegas has an in-built game called Caravans, but you can play blackjack, roulette, etc... Newer games that are free to play or cheap to play offer lotteries that award prices such as unique or rare in-game items...

There is currently quite an effort on using these techniques in games that should not be about gambling or chances playing and some people may find undesirable. Is this going too far? What type of effect may this game on underaged players?

From a gamer perspective I think that any perks within a game should always be kept cosmetic, as that allows people who want to spend money on gimmicks and virtual costumes to become "unique" while everyone else gets to play with all the same functionality. In fact it is a real game breaker if you're able to pay to get any sort of real advantage over your opponents. You've got games like team fortress 2 that give the rare possibility of gaining "super weapons" but they do give paid weapons some very big advantages, somehow they're able to make it work though. Even cosmetic skins can gain an aftermarket, as you see with PUBG or Counterstrike skins.
3591  Bitcoin / Bitcoin Discussion / Re: Proof of stake criticism on: July 16, 2021, 09:22:50 PM
So Bitcoin has always used proof of work as did Ethereum.  But with Ethereum switching over some of us must be thinking of the possibility of Bitcoin doing so as well at some point.  With that in mind I wanted to revisit this topic as I remember there being a lot of criticism of proof of stake with the arrival of the first coins to start  using it, but I don't recall the specifics.
One thing is we know that with proof of stake no actual work is required for the validation which secures the blockchain.  Is this a concern or does it not really matter? What do you think are the other risks or concerns?

I think the two terms need much clearer explanations that will translate more easily into the mainstream, maybe even highlighting the change has been more damaging to Ethereum from a media perspective. While fixed circulation amounts can be very helpful, buyers need to really know that the value that they have invested into a cryptocurrency will not be wasted away due to the whims of a certain team who might be in charge of releasing more supply to meet demand. It is a very tricky tightrope that they are running to retain credibility.
3592  Bitcoin / Bitcoin Discussion / Re: T-Mobile Sued Over SIM Attack That Resulted in Loss of $450K in Bitcoin on: July 15, 2021, 07:57:40 PM
Please, what can be the cause of sim swap attack? In most cases the victim are not to blame, the organisations for providing the service have to be blamed. The attackers are from the insider, from the company. The workers from the company will make a deal with others criminals to steal our sim from us. See this deadly attack.

T-Mobile Sued Over SIM Attack That Resulted in Loss of $450K in Bitcoin
Through sim swap, over 15 bitcoin lost.

You can read the full true story from here: https://www.coindesk.com/t-mobile-sued-over-sim-attack-that-resulted-in-loss-of-450k-in-bitcoin

Let us make sure our sim is working all the time, if we notice anything like our sim is not working, let us call the service provider or immediately go to their office to block this sim and get you another one.

While I have sympathy with the victim, in some cases it can be the result of certain devices within their possession getting hacked - whether a smart phone, laptop or desktop PC. When I went to change my phone provider recently (which I imagine is similar to applying for a new or "lost" sim) the whole process was done via text message and through the provider website. So it might not even be an "insider" attack, but that would help immensely and I wonder how this will play out in the courts. If I had that sort of cash in Bitcoin I'd definitely spread it across a few different wallets with different devices as some sort of mitigation technique.
3593  Economy / Economics / Re: Does studying Economics in School make one to be economical or what on: July 15, 2021, 07:43:37 PM
Your opinion is needed concerning the above topic.

When it comes to economics I love the following quote and think it is very true in many cases:

"An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today."

To sum it up, an economist is great at reading patterns in old data but is far too often used as a source of reference like they can predict the future. Oftentimes most people with "economics" training are as hopelessly lost as a random stranger on the street. It is only once you've started to combine economics with real world experiences and other skills (such as deep financial or business knowledge) that the practical usage can actually be helpful. Training for one economics qualification can be pretty useless by itself.
3594  Economy / Gambling discussion / Re: Taxes on gambling send the right message? on: July 15, 2021, 07:34:05 PM
I was thinking that many countries are reluctant to legalise certain activities such as gambling, prostitution, smoking, ... and, apart from countries that have strong social and religious restrictions (I refer to those as the death-by-boredom countries) others simply consider than the state should not profit or allow activities that are considered diminishing for the workers or that may harm their health and personal relations (it must be difficult to be an addict to gambling or a prostitute and have a normal life).

However, other countries simply set high taxes to these activities, which I think is a false morality, as if by paying these activities can be less questionable. (Note: I personally do not question regulated gambling).

Personally I think that religion is a relic of history that should be consigned to the rubbish bin - it should not be influencing rational and logical decisions today. It had a place for comforting people and building some basic laws for society, however we have now advanced far beyond the need for it. Man can judge man, based on changing moral codes and scientific knowledge (smoking used to be "cool" before we really knew the long term damage it could do). Gambling should be treated like any other entertainment business and taxed accordingly. The one thing that I think governments are too lenient on is helping problem gamblers - if someone identifies that they have uncontrollable urges there should be a country, if not worldwide, system that they can click a button to ban themselves for a certain period of time - 3 months, 6 months, 5 years, whatever. The person is taking responsibility and self excluding, the tools to protect them should be there.
3595  Economy / Speculation / Re: Repeating the price cycle every 4 years on: July 14, 2021, 06:34:54 PM
1) high April 13, 2013, bottom July 1, 2013, then a lot of X's for the new year
2) high June 5, 2017, bottom July 10, 2017, then a lot of x's for the new year
3) high April 12, 2021, bottom ... july 2021, then a lot of x's for the new year

BTC will grow to 300 000 dollars soon, price became 1100 after 6 months:


I think for these graphs to be useful one key piece of information is missing - the attrition rate of Bitcoin. Over time we are steadily seeing more and more Bitcoin being lost, which will never be available again in future. This could be seen as a damaging element of Bitcoin because it has a fixed amount in circulation and nobody really knows how desirable fractions of a decimal will be to holders in future. There is so much left over "dust" in wallets and people dying every day without leaving access to their fortunes hidden in wallets. That may very well push the price up, but it is also making it less usable as a functional currency for conducting regular trades in future - which should always be considered the bedrock of value that lies behind it. Otherwise you just end up with fickle speculators who also end up making it less relevant over time for it's original purpose.
3596  Economy / Gambling discussion / Re: Sexy casinos on: July 14, 2021, 06:28:48 PM
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?

If you're looking for a strip club, go to a strip club. Otherwise your mind should be on the game you're playing to win. If the game requires no skill then you are effectively feeding a machine that makes lots of funny noises and has lots of flashing lights, much like a baby would find entertaining. Personally I wouldn't want to be around people that are getting horny because some semi-naked women are walking around trying to drum up business. Casinos and gambling institutions can have enough sleazy activity going on as it is, without trying to introduce this sort of extra activity into the mix. So no, I think "Sexy casinos" which can seem to only have one concept, are a pretty bad idea.
3597  Economy / Economics / Re: The first rule of investing is saving on: July 14, 2021, 06:25:33 PM
It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ain´t got any, you ain´t gonna invest". (I admit you could argue that you can borrow but still nobody ain´t lending ya if you ain´t gonna givvet baksh).

The basic concepts that will save you a 15 bucks book:

- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.

And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...


This is an unfortunate fact that many people do not learn until their 20's, 30's or even 40's. Learning to live debt-free and saving even small amounts over time is an extremely liberating feeling. It can be incredibly depressing being in debt and living beyond your means, in many cases it is easy to spend money frivolously on absolutely unnecessary junk. Once you learn to save, you will want to put those savings to good use and learn about investing in companies. Albert Einstein, one of the most intelligent people to ever live, once said that "compounding is the 8th wonder of the world" and it has never been more true than when you own company shares that grow & reinvest on a regular basis.
3598  Bitcoin / Bitcoin Discussion / Re: I rather stay hungry than sell my Bitcoin on: July 14, 2021, 06:21:02 PM
It's really a tempting period for Bitcoin investors considering the constant dip we have been experiencing for a while. I was once adviced to sell my coin when I had an issue that needed money urgently but I objected it took me quite a long time to hodl and loosing them now isn't a healthy idea at all.

If I sell off my coin I might not be opportunied to buy back the coin at the exact rate I bought the previous one and had to come to a concrete decision of not selling my coin no matter the consequence. Yes it's going to be a different story if it turns out negative but what if it turns out positive. Vertually everything about life had two faces been the negative outcome or the positive there is hardly any in-between and so for me I rather take the risk and face what ever comes my way in the near future because risk is a necessity as far as investment is involved.

If it turns out positive certainly the joy would be all mine and certainly a portion of it would be rubbed on people around and if it turns out the opposite direction then I bear my loss alone. It's really my cross to bear and making this decision was out of a deep quite time I had while I was wondering if I go ahead to cash out or I maintain my hodl and from all indication I just have to maintain my hodl till I get my reward no matter the manner it would appear.

At the end of the day money is just a tool, you should not live like a pauper in order to be a rich old man or woman. You need to find a happy medium between living in the current moment and judging what you expect your assets to be worth in future. Unfortunately Bitcoin and cryptocurrency in general have only been around for just over a decade, while that makes a convincing story that they have "staying power" it does not mean that the value currently assigned to them will persist into the future. They are also a rather unproductive asset in comparison with the stock market, where companies you own pay out a portion of their profits (or reinvest it) to grow your future value. Try not to overstretch too much and living in hunger when you can afford not to is a step too far.
3599  Economy / Gambling discussion / Re: Fully vaccinated individuals now spared of masks in the casinos in Vegas on: July 14, 2021, 05:57:41 PM
Account to the source: https://www.gamblinginsider.com/news/11906/fully-vaccinated-individuals-no-longer-required-to-wear-mask-in-vegas-casinos
Fully vaccinated individuals can now play normally without any masks in the gambling casinos and at the same time it goes for both indoor and outdoor locations in Nevada. The decision was made on May 3.
Quote
The Board’s agents will not attempt to confirm vaccination status of patrons. Consequently, unless circumstances change, it is not practical for the Board to attempt to enforce a mask mandate tethered to an individual’s vaccination status.

As a whole the decision was made on May 13. Some licenses might be more restrictive as compared to the others.

I do feel like there is another reason for you guys to be vaccinated! You can actually experience normal casinos like before pandemic if you do wear the mask and follow the protocols.

It's starting to seem like vaccine passports will soon be a thing in future. Most of Europe seem to be working towards that and if countries are willing to put that measure in place, requiring continued wearing of masks seems like an insignificant extra that will be mandatory. Until more of the worlds population is vaccinated and it is possible to get this rapidly mutating virus under control, it is the most sensible reaction and necessary to protect the weaker elements of society who cannot wear masks or get vaccinated. It is a very small sacrifice and allows some sort of normality, so hopefully people can keep it going for another year or two longer.
3600  Economy / Gambling discussion / Re: Placing bets under Superbru-like conditions on: July 13, 2021, 09:02:39 PM
I've recently taken part in the EPL prediction contest, and did pretty well there.

While Superbru says I'm in top-3% in the world among those who were predicting the outcomes of these matches, my success rate at predicting the winner of the match is actually only around 50%. So I'm pretty bad at predicting who wins the games. However, I'm okay if the stakes are differentiated, and you get 1 point for result, 1.5 for a close score and 3 for an exact score.
It would be nice to try betting with money under similar conditions, but to be honest, I've never seen it as an option: you usually choose whether you're betting on the winner of the game, on the score or something else, and if you were betting on the score and didn't guess it, you're losing your bet. So conditional betting could be an interesting thing: you bet on the score at certain odds, but if you, say, don't get the score right but guess the outcome correctly, you still win some money, just not as much. Have you seen this being implemented? Would that be hypothetically interesting to you? Do you think sportsbooks could go for it or is it a bad business model for them, putting them at a disadvantage?


I'm still confused by the terminology you have used, is a "superbru" something like a parlay or multi-bet? Is it just a free game that a bookmaker or gaming site has come up with for virtual money? If you find that you're really good at making predictions then maybe it is time to move into sportsbook gaming - start with a fixed amount, say $100, to see whether you're able to build it up over time or whether you just lose it. You might get much more favorable odds if you're just playing a simulator versus actually engaging in real money betting, they want to "build" new customers in this way. Be wary of parlay or multi-bets with real money however, as they are the best money earners for bookmakers.
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