It reads like self justifying bilge. If people want to gamble then that's fine. Dressing it up as something remotely worthwhile is somewhat pathetic. It has no redeeming value. It employs people and provides a bit of fun for some. That's it.
The article is not trying to dress it up. You should refer to it if anyone gives you grief about gambling. Essentially, what the Boston University Law Review and the 3 top dictionaries are saying is that most people gamble all the time, except they like to be snobby and call it "investing" and denigrate other activities like Poker that are "identical activities of wagering". |
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You forgot one thing all this is from a gambling site if you check online you will find many things which go against gambling even if i had a gambling site i would post such situations and try to make gambling look good so i can get more revenue. Think about it is gambling involved skills how will that site still function won't it shut down because of people finding ways to make profit
Read https://stockbet.com/#/support/gamblingBoston University Law Review explains in detail how gambling and investing are identical. Then they explain why there is a distinction: "...gambling and investing are identical activities of wagering...both risk-taking activities have been present in the American culture for all of its history. At some point over 100 years ago, public attitudes of the two types of speculation diverged, with investing being labeled as socially desirable and therefore supported by law, and gambling being labeled as socially undesirable and therefore prohibited by law. This divergence was based not on any logical differences in the activities, but instead on the classes of people that participated in these activities and who profited from them. Stock brokers, stock exchanges, and their wealthy clients benefited from this legal distinction; working class gamblers and bookmakers did not." In other words, playing poker and investing are identical activities of wagering. But society became snobby and denigrated activities carried out by the working class. Why does the government come down hard on online gambling but not futures or options trading? According to Boston University Law Review: "The fierceness of the federal government's official stance [against online gambling] until one realizes the one factor that is at stake in traditional investing, online investing, and traditional gambling, but not at stake in Internet gambling: money" Essentially, the government cares mainly about making or losing money. Using morality as justification to block private online gambling operators is spin or pretext for the real reason, which is to block competition. In addition to the obscene amount of money that governments make from lotteries, check out the fees and taxes that the Nevada government charges a casino. According to gambling-law-us.com, the fees can be over $1,000,000 and the taxes can be multiple millions. Few businesses in other industries would need to pay this kind of money to the government, in order to be in business. One would assume that the government would want to protect this cash-cow. Many casino games require skill, such as Poker and Black Jack. A judge ruled that Poker is a game of skill: http://usnews.nbcnews.com/_news/2012/08/21/13399810-poker-is-game-of-skill-not-chance-new-york-judge-rules-upping-internet-ante?liteMany gambling activities involve skill. As long as there is chance (risk) and it has these 3 factors, then it is gambling: 1) Stake 2) Chance (risk, luck, etc.) 3) Profit or Loss |
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The article is full of half-truths.
For example: “Most people, including the rich and middle class, gamble on lotteries”.
That’s just half-true, the richer people are, the less likely they are to play lottery games, especially in relation to their wealth.
The article identifies investing and gambling as involving skill and chance but the difference is that when you play casino games you are risking your money on a mathematical expected negative return (EV-) whereas when you start a business, that mathematical certainty is not there.
So, if that article is not able to persuade me, a person who doesn’t find anything morally wrong with gambling, is not going to persuade those who have moral views against it.
Let's say that's true that rich people are less likely to play lotteries. It still doesn't negate the statement that “Most people, including the rich and middle class, gamble on lotteries”. The rich may not play lotteries every week, but most have gambled on lotteries. http://www.businessinsider.com/how-rich-people-and-poor-people-play-the-lottery-2012-3"Basically, the poor play all the lotteries. The rich just go for the big ones, but when the big ones happen, they do it at the same level as the poor." 90% of businesses fail. What's the mathematical expected return for that? Besides, mathematical expected return is not a factor on whether an activity is "gambling" or not. Read the definitions and examples of gambling from the 3 major dictionaries given in the article. There are only 3 factors needed to define gambling: 1) Stake 2) Chance (risk, luck, etc.) 3) Profit or Loss If you buy insurance, you are gambling. If you own stocks, you are gambling. The dictionaries even cited business ventures as examples of gambling. |
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You have heard the saying: Buy the rumor, Sell the news. Rumors of the Snowden tweet must have leaked out earlier yesterday when it spiked to just above $400, now that its officially news people are selling. Same thing happened back when the JP Morgan news broke.
Good point. But, they sold the news so much that it's back to where it was before the spike. |
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Mainly to buy altcoins.
The main application for Ethereum is ICOs.
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I think we should wait for Ethereum to drop to $ 240. I believe Eth's will fall because of the update of Bitcoin.
Yes, it's better to wait for its parent altcoin to decline, because the increase in ethereum depends on its parent. When the time comes the value of ethereum has decreased, and by that time you buy it as much as possible. because as the value of ethereum rises again, you can benefit more. I expect even lower price such as $190 to enter to ether. This will be very good to collect cheap ether to sell them for $400 6 months later on. If it falls, it's more likely due to S. Korea's ban on ICOs. |
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Three Wall St pros have joined in to take the other side of Jamie Dimon:
Josh Brown of CNBC
Gormn, CEO of Morgan Stanley
Analyst from McQuarie
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Ethereum is the future. Most ISO are based on it. Just because of this, his price will grow.
I think you meant to write ICO. We're running a bet on Ethereum. Feel free to join in: https://stockbet.com/#/BullBear/round/17943 |
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Private blockchain? Then it's not related with bitcoin and decentralized cryptocurrency. But that means they indirectly acknowledge any technology based on blockchain now including bitcoin  But, i don't see much advantage of private blockchain compared with regular/centralized database. Every bank is also developing blockchains and they are also private. This is the main problem with these blockchains, as explained by Andreas Antonopoulos. |
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Ethereum price will takes another deep from today after south korean ban a new ico. Hopefully they did not ban exchanger as well. They said they will put additional regulation for exchange. We will see what happened in one week.
This will likely play out over the next few weeks. Expect ETH to drop during this time. |
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$300 should be the psychological level for ether to break before start another bull action. To understand if it's broken, we need to have ether above $300 for 2 days at least. Then we can make sure about it.
You should like a professional trader on CNBC. |
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ETH is the best investment next to BTC. Sure you can make 10x with some junk coins, but you will also lose and get scammed. Better safe than sorry. If ETH slowly builds that is best.
ETH is up %2000 since last year. Even if it goes up to %360 in the next year thats still %20 gain. Massive billion dollar hedgefunds cant even make that!
Correct. Actually, most hedge funds cannot average 20% per year. Just out of curiosity, which country puts the percentage sign (%) in front of the number? |
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That's one thing I don't like about the big coins. They have become correlated. They tend to move up and down together, like stocks.
True, it seems that the prices of ETH and LTC is dependent on the price of BTC these past few months. When there was a dump on BTC price the other two alt coins dropped value while XMR price skyrocketed. Now BTC price is moving to an upward trend hopefully ETH and LTC will follow. This is evidence that bigger players are more involved in crypto trading, which is good and bad. One of these I dislike the most is the correlation with stocks to the indexes. |
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