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3921  Economy / Gambling discussion / Re: Macau's Casino Operation Continues Despite The Latest Outbreak on: June 22, 2022, 05:34:42 PM
We all know that Macau is the world's biggest gambling capital the world and its government is relying 80% on its revenues from casino operations as the majority of its citizen are employed directly or not directly but now it is facing a dilemma there is a rapid increase of the outbreak of the disease and they have no choice but to close most shops, banks schools, and government offices but surprisingly their casino operations are still open as they need to cope with the revenues losses and keep the money flowing to keep the government funds stable.
Do you think the government of Macau made the right decision or they are very desperate not to shut down the casino operations
because they need their economy going.

Related story and source here

Macao shuts most businesses, restaurants amid mass COVID-19 testing; casinos stay open
 
Without a doubt it is a difficult decision to take, however when the economy is so dependent in a single source of income then it is almost impossible for any government to close it so easily, so while things are getting bad I think the decision seems to be the correct one for the moment, however it would be interesting to see what they would do in the case things get even worse, as if things get bad enough then people will stop going to the casinos on their own anyway.
I believe the government is going to open an exception for casinos in every cases, because more than 80% of the local income depends on gambling industry, including jobs generation for the citizens. If they close casinos there will be two issues at same time: economical and sanitary. Maybe safety protocols can be adopted, like the masks usage, abundance of alcohol on every tables of the casino, fever test at the entrances, reduced number of people allowed inside a room... But it's undeniable the situation is worrying because a new wave of Covid-19 is spreading again in many countries and in large proportions. It seems to not have an end.
3922  Economy / Economics / Re: Should we embrace a cashless policy?? on: June 22, 2022, 06:14:14 AM
If we really embrace cashless policy, there wil be an Economic Disparity. If the standard payment technique gets changed into the cashless system completely, the chances are that purchasing smartphones or devices for example will become necessary. In a country like India, where many citizens endeavor to provide for their daily food and necessities, purchasing a smartphone is most definitely a luxury these poor sections cannot afford. If cashless acquisition becomes the standard rule, then inequality can be seen in society because not everyone can afford it.
Maybe in a coming day and in near future we will adapt that in our region.
But yes - the point you have mentioned that that for the poor people it is difficult to buy a smart phone. That is the issue. And on the other hand illiteracy is also a serious issue.
I am not entirely sure about this, it's the homeless and the poverty that may have this issue, like I mean the guys that look in the garbage to find something to eat, and it should be the responsibility of the government and the states to find those people and give them a place to stay and live without worrying about anything, it's inhumane to let them be like that.

Outside of that, even the poorest person who lives, or has a job, or even unemployed but at least has a shelter, it is harder for them to not have a smartphone, you would literally miss out on things that you can make money from. Who would hire someone without a smartphone? That would be quite difficult.
Depending where you live it's hard to imagine someone could live without a smartphone and internet connection nowadays, but it's still the reality of some regions in the world. I know people who are active negotiators and deal with goods and paper money all day long, but have no idea of how to use a smartphone or any device of this kind, sometimes because they have low financial standards, and on another cases it's a cultural matter, especially among elders. Definitely, these people couldn't be integrated to a cashless society, so governments aren't going to apply this measure soon. Maybe for the future generations it will possible.
3923  Economy / Speculation / Re: Today is the day on: June 22, 2022, 02:27:06 AM
For me, and for many, too, it's "generational buying opportunity with bitcoin being the most oversold it's ever been" that's perfectly clear to me.
  This bad news and the bear market will never affect Bitcoin fans and holders because they have heard such talk “Bitcoin dies” many times before, and each time these failed pessimists were very disappointed as Bitcoin came back stronger than it was and made new highs, This time also will not be different from the previous times. It is only a matter of time when we will witness a new ATH and all those who missed this precious opportunity from their hand will regret it.
That is true, just look the number of wallets holding 1 btc or more growing these days. Smart investors continue accumulating most bitcoins as possible, although it doesn't have a big impact on the bigger picture of crypto market, because they aren't whales. But it's a fact investors are already preparing themselves for the next increasement in bitcoin price. Mainstream economists, news, businessmen and politicians spread fear among common investors because that is the tool at their disposal to discourage people adopting bitcoin and consequently making the maintenance of its price. For groups of influence and power it's interesting bitcoin dumps to the floor until it starts being pumped again, so they can maximize their earnings.
3924  Bitcoin / Bitcoin Discussion / Re: Bitcoin Hodlers are actively buying bitcoin these days on: June 21, 2022, 06:48:41 PM
Hopefully these holders will help to bring more stability and strength to bitcoin price futurely by not panic selling during bear markets. It's preferable bitcoin leaves the hands of speculators and panic sellers and is taken by long term holders. This situation is only worrying in case whales are the ones purchasing bitcoin now, because then it will mean they are accumulating more power and influence in crypto market yet.
That was predictable move though, and small investors shouldn't wait too long until restarting their bitcon investments once again, because when they least expect, bitcoin is going to be immediately pumped by big players who want to raise their dominance and manipulation range.
It is natural that coins move from those with weak hands to those which have stronger hands, however I have been wondering if this actually has any effect on the volatility of the market.

By this I mean that even if those long term holders are not selling their coins in panic and they are even buying some bitcoin when they can, those coins are not really at the exchanges and are not changing hands at all, so when it comes to the process of price discovery it is almost as if those coins did not exist, which would explain why the volatility is still so huge even if a great deal of all the bitcoin ever mined is on the hands of people with very strong hands.
Volatility is still huge, but if we compare to years ago, it has been decreasing and the market has become more stable, otherwise bitcoin would have already crashed to this currently price range since the end of 2021 and beginning of 2022, rather we saw a strong bitcoin fighting bravely to break resistance levels at 40,000$ and 50,000$.

Unfortunatelly, FED has answered with an attractive interest rates' boost and big players didn't think twice before retreating crypto market and going for dollars at this moment. So, all the progress long term BTC holders have accomplished by now seems to be worthless on this momentaneous scenario, but without any doubts they helped a lot to keep btc in a robust position between December 2021 and May 2022.

With more investors of this kind, bitcoin will be much more prepared for the next bearish seasons.
3925  Bitcoin / Bitcoin Discussion / Re: Age of bitcoiners on: June 21, 2022, 06:01:14 PM

I don't really think that are so many women involved with bitcoin or any kind of cryptocurrency. But anyway, I think that is a nice statistic.

When I learned about bitcoin there were very few people younger than me that were also interested about it. I am happy to see new generations buying bitcoin and cryptocurrencies.

I found this website with some different stats based on Google Analytics:

Quote
Yes, it's curious to imagine the percentage of women involved with cryptocurrency is similar to the percentage of men, since we don't see it daily for real. And the difference between GWI research and Google Analytics research's data is huge.

Some hypothesis I've though:

  • GWI appealed to the gender equality policy when doing their research, consequently manipulating results, at some degree;
  • Google Analytics is outdated, because the article containing those informations is from 3 years ago.
3926  Bitcoin / Bitcoin Discussion / Re: Age of bitcoiners on: June 20, 2022, 10:49:46 PM
A forum poll might not be accurate enough to reveal the reality, because many people don't answer them and a higher percentage of crypto adopters should participate in order to collect enough data to reach a conclusion.
Despite this, it's well known most crypto enthusiasts are from millennials' generation (1981 – 1996 birth date). Youngest generation isn't too interested in investing money, it seems. At least for now.



DIGITAL 2022: BIG RISE IN CRYPTOCURRENCY OWNERSHIP
3927  Bitcoin / Bitcoin Discussion / Re: Bitcoin Hodlers are actively buying bitcoin these days on: June 20, 2022, 09:38:05 PM
Hopefully these holders will help to bring more stability and strength to bitcoin price futurely by not panic selling during bear markets. It's preferable bitcoin leaves the hands of speculators and panic sellers and is taken by long term holders. This situation is only worrying in case whales are the ones purchasing bitcoin now, because then it will mean they are accumulating more power and influence in crypto market yet.
That was predictable move though, and small investors shouldn't wait too long until restarting their bitcon investments once again, because when they least expect, bitcoin is going to be immediately pumped by big players who want to raise their dominance and manipulation range.
3928  Economy / Service Discussion / Re: Crypto lender Celsius mulls possible restructuring amid financial woes on: June 20, 2022, 08:46:24 PM
Who in the right mind would think that was legit? Anyone with a half brain should be able to see the ponzi scheme behind it. If you can't and "invested" money in any of these ponzi schemes, then you deserved to lose your money. TerraLuna was the first, and it looks like this will be the second domino.
Things are not that simple as even smart people do stupid things when greed kicks in and that's what happened here. While Luna has ~20% APY, Celsius was more moderate in that regard (I think BTC had 8-9%) so people automatically assumed that its legit.
Over bitcoin, Celsius was paying up to 8,53% annually (if receiving rewards in CEL token) or up to 6,50% (if receiving "in-kind" rewards). Moreover, rates could change from week to week, depending the market conditions and demands. The more borrowing demand there was for a currency, more interest they would pay to investors on that week. So the system was dynamic and constantly changing, what I consider really good for the sustainability of the platform. And yes, theoretically it could be legit, because the lending business is a profitable one.

The problem is what they have been doing on the backgrounds and don't share with the community they are constantly saying to be acting in the interest of as their main priority...

I'm one of the 1,7 million investors of the platform who injected over 5 billion dollars on their hands. Things aren't looking good, because there isn't transparency, the CEO has disappeared from social medias, all messages coming from them are evasive and say nothing enlightening, sock puppets accounts on twitter and reddit keep pushing an "us against them" narrative to protect Celsius, just like Mashinsky has always done and inexplicably CEL's price is doing well right now, pumping decently, what indicates the platform is burning investors' funds to boost their native token.

Anyway, they can't pull the rug without consequences. It's not an anonymous virtual investment scheme and there are too many people and too much money involved on it.
3929  Alternate cryptocurrencies / Altcoin Discussion / Re: Are bounty programs or airdrops more profitable to participate in? on: June 20, 2022, 08:11:30 PM
I've never effectively joined airdrops and bounty programs because they are confusing to participate and understand. You don't know how much you are going to be paid, you don't know if your work is being counted by the manager, you don't know if the project is going to make it all the way until the launchment, you don't know if the token is going to be listed on exchanges. There are no guarantees and that is terrible, since employees don't have any stability when performing tasks.

After ICOs hype has started, it has become extremely difficult to find worthful earning opportunites to collect cryptocurrency from zero. The ones promoted nowadays, like Coinbase and Coinmarketcap "earn cryptocurrency while learning" features, are extremely scarce and limited. Another alternative is to join a micro tasks platform, like Pico Workers, and cashout BTC, although executable offers are also scarce and there are a lot of cheater users using multi accounts who fastly drain the tasks.
3930  Economy / Gambling discussion / Re: Why is it so hard to win at gambling? on: June 20, 2022, 06:41:06 PM
To win in gambling we need some extra ordinary luck for a regular period of time which is not possible.
Gambling is always designed in such a way that most of the games goes into the favor of the house edge which is the casino.
This is one of the major reasons why we lose gambling frequently.
Yes, the more you play, more likely it is you are going to lose. So it's smarter to focus on short run sessions for profit returns. And if even on this case it's not possible to make profit, just walk away and forget about gambling for a while, because the more you try to recover your losses, more losses will be accumulated, especially for gamblers playing with limited budgets which don't allow them to develop efficient strategies, progressive bets or leverage methods.
The fact is that few people are able to live from gambling income, and everyone else shouldn't apply the example of these few people on their personal lives to avoid going bankrupt or wasting money they can't afford to lose. Otherwise, they might never see financial development on their lives.
3931  Bitcoin / Bitcoin Discussion / Re: Where will Bitcoin stabalize?? on: June 20, 2022, 01:57:07 AM
Another funny thing that I've read today is about Peter Schiff telling that there's no future for bitcoin but there's a future for crypto. That doesn't make sense right? The whole crypto market is on the shoulders of bitcoin and if he's telling that he's probably also getting into bitcoin? He's starting to tell things like this which we knew that he's been a bitcoin basher and bear ever since. And with the stabilization of bitcoin, we just think of it as volatile as always and will never get to the point of being less volatile.
When people say such things it's because they want to take advantage of the blockchain concept through the altcoins they support or in politicians' case it's more likely they are shilling for CBDCs. Bitcoin is still a threat for the political system, because it gives people an alternative to the failed fiat system these politics have influence over, so of course they are going to blame BTC always they see a chance, just like now, with the recent crash.

Once bitcoin stabilizes and shows some recovery signals the attacks must decrease considerably, although it's unpredictable at this point. Even the earliest adopters aren't sure yet. All we can do for now is to keep holding, while avoiding FUD spread by mainstream personalities.
3932  Economy / Gambling discussion / Re: National Sports and Sports Betting on: June 20, 2022, 12:14:11 AM
Without any doubts the most common sport here in our country, Brazil, is soccer. Therefore, soccer bets are getting really popular now with ads of online betting platforms on television. I also have the impression the desire for sports betting is overcoming the interest for traditional casino games among the younger generations. Actually, it's nothing new, as since the school's times students were used to bet among themselves on soccer results, but now things are becoming more professional and serious because people have easy access to betting virtual sites with odds and the assurance they aren't going to be scammed.
3933  Alternate cryptocurrencies / Altcoin Discussion / Re: Elon Musk bought Twitter on: June 19, 2022, 11:19:15 PM
Yes, this is really true news. I heard this news a long time ago. The Twitter company has taken it under its wing. However, he has decided to buy a site or company next, but we are still waiting We hope to hear more good news later.Elon Musk is a very nice company that Twitter company has done a really weird thing with taking it under its belt.
How is it true since he hasn't bought Twitter yet? Elon is a speculator. He says he is going to do something or his opinion about something to analyze and play with investors and market's sentiments, but right after he retreats on what he firstly said. Typical speculative and manipulative strategy.

Many individuals following his lead have already lost money in crypto world (with bitcoin, doge and shiba inu) and I believe the same has happened with Twitter. So it's advised to be careful when taking into consideration what he says and especially his proposals.
3934  Economy / Gambling discussion / Re: Deriving pleasure in gambling even while losing. on: June 19, 2022, 07:24:48 PM
I never thought that losing at gambling was something that would make a gambler happy, it was a nonsense because the majority of gamblers bet to win money.

They can spend a lot of money on fun gambling, but I think the class will be very different from most gamblers. Gambling for fun is for those who only gamble while on vacation from work and I think they are the ones who will actually have less influence on winning and losing. But in general, winning is something that makes gamblers feel good.
Probably he doesn't get happy when losing, he just doesn't care losing, because the pleasure is in playing and on the potential winning the game can always lead us to. I notice this kind of gambler doesn't calculate his losses on long term. He just enjoys the moment and treats each gambling session as it was unique.

Let's say a gambler has a negative balance in gambling of 10,000$, counting every games he has already played during his life, but if on the next time he plays he hits a jackpot of 1000$, he will count it as profit and become hugely hyped, excited and overjoyed. Moreover, he can even say: who told I can't make profit sometimes?

While others will become depressed if they conclude how much money they have lost along their lives and that it's nearly impossible to recover such amount. At least, not without risks of losing more money yet.

It really differs from person to person, because each one has a different personality and mindset.
3935  Economy / Trading Discussion / Re: How long do you think the market will take to recover? on: June 18, 2022, 11:23:35 PM
The market can recover in a time that no will even expect it, this is not the first time to experience a bear season like this,  their are season  like this in cryptocurrency that everyone of us needs to expect the bear market that it can occur without the knowledge of anyone.  Bear market don't last forever in cryptocurrency,  the bear market comes it is the same way it happens to the bull market,  it comes unexpectedly.  We just need not to panic and wait for bull market.
That is why it's preferable to start holding bitcoins as soon as possible, even though there are predictions indicating bitcoin isn't going to recover on short run due to external factors involving global economy and war. We never know what is going to happen or when it's going to happen, so be prepared for all possible scenarios from now on to not waste any opportunities in crypto universe. And most important: don't try competing with the whales for the dip. The dip belongs to the whales, because they are the ones who launch the trends, and those who wait to buy at same time with big investors, end paying much more for BTC than they could pay, if buying some time before the dip, but also before the beginning of the bull run.
3936  Economy / Gambling discussion / Re: Japanese man gambled away a huge Covid-19 relief funds mistakenly sent to him on: June 18, 2022, 10:37:25 PM
The banking authorities should've been careful handling such a huge fund. In my view it looks like the person is into gambling addiction and that's the reason why he had used such a big amount in gambling and lost everything within two weeks time. Two Weeks time is something long, the bank should've taken action within few days. There is difference between sending the funds to 436 beneficiaries and to a single account. Anyhow justice needs to be given to the beneficiaries as the person himself have accepted he have used the funds.
That is actually true. Tremendous failure from the bank to have sent the money to the man's account instead of the 463 low-income households. If it were a small and simple mistake, like misunderstanding a number or name that would be understandable, because these things happen really often, but sending 357,400$ into one person's account instead of sharing it among 463 is too much and should be immediately perceived!

It would be interesting if the news brought informations about the responsible for the transaction and what he has to say about the fact as well.
3937  Alternate cryptocurrencies / Altcoin Discussion / Re: Is it possible for Traditional Banks to cooperate with Crypto on: June 18, 2022, 09:16:23 PM
Somehow it must happen. You know some banks offer investment options in assets besides fixed income, and some of those investment categories might include cryptocurrency as part of the package. But that is all I expect from banks: an informal approach to cryptocurrency instead of a direct one, that would mean accepting crypto deposits and swap. Actually, I don't see this as a problem, because we don't need traditional banks to survive. As technology evolves and becomes more accessible to everyone, new services are being developed also regards finances and that is what I believe to be the future of banking system. Just like bitcoin, doesn't matter where you are in the world, you will have access to that virtual bank.
3938  Economy / Gambling discussion / Re: BTC Fluctuations Effects Gamblers and Casino that uses USD($) upon deposit on: June 18, 2022, 08:49:37 PM
It's not a big issue since they avoid betting on days bitcoin is heavily volatile while not keeping funds in cryptocurrency they are going to need soon. Gamblers need to wait the market to stabilize a little bit until they can play using crypto again, that is the safest approach, I guess. Otherwise they might see the profit made from bets completely melting due to the market crash.

Personally, I don't bother about the fluctuations and crashes because I think primarily on long term returns from bitcoin. The prices are falling sharply right now, as are my profits, but I'm not in a hurry, so I can wait they recover until I cashout profit.
3939  Economy / Economics / Re: Wheat War I is going to be World War III on: June 18, 2022, 07:40:42 PM
I think food will be an issue for Europe only in case their enemies turn their lands infertile through bombing or chemical attacks and by invading allied countries which are weak militarily, but strong basic goods producers and exporters. Otherwise, automated machines and equipments, plus modern farming techniques can help the continent to be sustainable and independent.

About wheat in my country, specifically, it corresponds to one of the most imported goods, which costs about 2$ billion dollars for the country annually, representing about 44% of the total wheat supply. The other 56% are produced in the local territory. Indeed, it means a lot of dependency on imported wheat and a major crisis would be terrifying for the common citizens acquire this good, which I consider essential and indispensable in our daily meals.
3940  Bitcoin / Bitcoin Discussion / Re: Did Bitcoin Disappointed You ? on: June 18, 2022, 06:00:40 PM
Once bitcoin was at 69,000$, who would have thought that bitcoin will go so low so fast ?
The same way bitcoin price pumps fast, it can also dumps incredibly fast, so it should be expected that after a bull run, there is also a correction which pushes the price down again. In the currently case it was just worse because the negative impacts of the world economy in crypto environment. If it wasn't for this negative influence, I think bitcoin could be at 30,000$-40,000$ price range yet.

Now what do think, where we are in terms of bitcoin cycle. I think we are already in th bear market since summer of last year and maybe the bottom/ end of bear market is near ?
Maybe we are at the middle of the bear cycle yet. I don't think it will be possible to exit this weak season by the end of 2022. I hope next year the market can show strong recovery signals again, once the economical policies implemented by regulators on their countries (US in special) start failing, so investors will be forced to move their funds to somewhere else again to protect it against devaluation, and that may be bitcoin.
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