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4441  Economy / Gambling discussion / Re: Netflix's Money, Explained: E04 Gambling on: June 18, 2021, 01:42:00 AM
I think gambling here is referring to casino gambling where games are more or less luck-based. If so, that would be a lot different from day trading. When you're on a slot machine, for example, the main thing that you do is to pull that lever, cross your fingers, and hope that you'd hit the jackpot. That's not what day trading is about. If that's what a day trader does, he/she better quit. There is a need to analyze in day trading. There's nothing to analyze in luck-based casino games.
Isn't online gambling luck based or should I say odd based like any physical casino? The daytrading stuff needs an analytical skill unlike gambling where you really rely on odds instead of your skills. There's a lot to analyze in a "luck based" casino, it's called statistics and probability.

Not necessarily. I mean online gambling does not depend solely on luck. Sports betting is online gambling and it does not depend on luck. It has odds but the odds are based on analysis. In terms of casino games, they are not all luck-based either. When you play roulette, slots, dice, and so on, you just have to rely on luck. But that is not necessarily the case when you play poker, for example, or blackjack. Some need skills on top of luck.
4442  Bitcoin / Bitcoin Discussion / Re: Charles Hoskinson's Take on Bitcoin on: June 17, 2021, 04:25:22 AM
Everyone has a right to hold their opinions and just like Elon, Warren Buffet, Jack Dorsey, you and me etc we all have our opinions on the subject of bitcoin, though not all are correct but the greatest revealer is time, and time will surely tell whose opinion was correct.

Yeah, we will see in the coming years and decades whether or not Bitcoin will remain relevant amidst the development race within cryptocurrency. Bitcoin surely is facing certain criticisms in line with its huge energy consumption-- not just the fact that a significant portion of which is taken from non-renewable sources-- scalability, high fees, volatility, and so on.

Anyway, it is one thing to listen to the honest take of a Charles Hoskinson and quite another to the uninformed comments of an Elon Musk or a Warren Buffet.

But it certainly does not help that certain personalities are treating Bitcoin as a sort of an infallible religion. While they are diehard fans of Bitcoin and are promoting Bitcoin wholeheartedly, their toxicity seems to be creating more harm than good.
4443  Other / Archival / Re: BUY & HODL - is the surest strategy for crypto beginners on: June 17, 2021, 03:24:53 AM
No doubt, buying and hodling Bitcoin is indeed the safest strategy for a beginner, that is, provided one has already been well-informed about the fact that the price fluctuates all the time.

Hodling seems very easy at first but it actually is not, especially to a beginner who hasn't yet experienced the extremes of price fluctuations. Imagine you're a newbie and you're suddenly seeing the price quickly plummeting down 50% from the price at which you made your purchase. If you're not briefed of that possibility and told to always brace for its possible coming, you might end up one among so many who ended up panic selling.

So if you're a newbie who has decided to buy and hodl, please know that you will go through the best of rides. Just be steadfast, hodl tight, and think of the long term.
4444  Economy / Exchanges / Re: need help trading on binance on: June 17, 2021, 02:53:56 AM
As GreatArkansas mentioned, Binance has what they call Binance Academy where you could find resources on learning certain aspects of cryptocurrency including day trading. Here's Binance's A Beginner’s Guide to Day Trading Cryptocurrency.

Please take note of the hyperlinks. You will need to read them as well. I think you need to specifically watch out these 4 articles still found on Binance Academy:

1. What Is Technical Analysis?
2. 5 Essential Indicators Used in Technical Analysis
3. A Beginner’s Guide to Classical Chart Patterns
4. A Beginners Guide to Understanding Risk Management

Good luck!
4445  Economy / Economics / Re: Money and happiness. on: June 17, 2021, 02:34:09 AM
I'll just generalize and say that money may bring a certain amount of happiness, but that's not because of the money itself. It is because with the money one can do the things that he/she loves. If I can travel, eat my favorite food, stay in a beautiful place, and so on without the need for money, I'd be very happy even if I'm penniless. But that's how we are today. Everything revolves around money.

Anyway, what I also noticed is that those who have the money are still as easily irritable as those who don't have it. To a poor man it could be understandable. But to those who have a lot of money and having a smooth life, a tiny glitch, interruption, inconvenience, and the like are most often enough reasons for them to get irritated. The reasons are different but that's one indication that money won't actually make you genuinely happy.
4446  Economy / Gambling discussion / Re: Netflix's Money, Explained: E04 Gambling on: June 17, 2021, 02:01:28 AM
I think gambling here is referring to casino gambling where games are more or less luck-based. If so, that would be a lot different from day trading. When you're on a slot machine, for example, the main thing that you do is to pull that lever, cross your fingers, and hope that you'd hit the jackpot. That's not what day trading is about. If that's what a day trader does, he/she better quit. There is a need to analyze in day trading. There's nothing to analyze in luck-based casino games.
4447  Economy / Speculation / Re: Will China's crackdown on Bitcoin cause Bitcoin to become worthless? on: June 17, 2021, 01:38:27 AM
China is just one country where Bitcoin could thrive. Admittedly, the country has a very large market but I don't think Bitcoin's price and fate are at the mercy of the Chinese government. Also, it has been repeatedly debunked that every single Chinese would also avoid Bitcoin only because its totalitarian government doesn't like it. I've come across a number of testimonies from Chinese individuals in China themselves that they are still more or less free to access Bitcoin online.
4448  Bitcoin / Bitcoin Discussion / Re: Lightning Network -- Is it GOOD? on: June 16, 2021, 02:56:22 PM
It is good because it is a way for people to finally make use of BTC for day-to-day spending. However, in fairness, I think there are indeed certain legitimate concerns about LN, at least as far as my understanding is concerned. The mere fact that we have now resorted to make transactions off the Bitcoin network is a compromise already.

Anyway, I think you are referring to a different tweet. You must be referring to this one https://twitter.com/4stepstofluency/status/1404482153367412742.
4449  Bitcoin / Bitcoin Discussion / Re: Will Bitcoin be the biggest bubble economy in history? on: June 16, 2021, 03:45:30 AM
The biggest economic bubble in history is fiat itself, not Bitcoin. I am referring not just to fiat money but to the entire fiat system also.

Borrowing your definition, fiat has very well fallen under an asset whose "value surpasses the real economy." We all know this. I don't know where you're from but I am almost sure that the fiat money you're currently using is not based on real economy.

Furthermore, fiat also "easily loses the ability for sustainable development." Of course, how could it be sustainable when it almost has zero basis for issuance? Central banks are printing and printing money no end without any basis. The money supply could be stretched infinitely.

Such is the reason why the bubble has already exploded in certain countries across continents.
4450  Economy / Gambling discussion / Re: How does on-line compete with the VIP experience on: June 16, 2021, 02:58:26 AM
Generally, online casinos cannot equal that of physical casinos. In so many aspects, physical casinos are a lot better than online casinos. The vibe, the crowd, the fun, and so on are really different when you're inside a casino than when you're just in your room gambling in front of your laptop. Well, it depends on your taste, though. If you feel it's more fun gambling alone silently and anonymously, online gambling is indeed for you.

But there'd be a world of difference when it comes to VIP experience. VIP treatment in online casinos might just be limited to a low house edge, free rolls, and other bonuses. These cannot really beat the free accommodation in a spacious room overlooking the pool complete with jacuzzi, valet, unlimited booze, exclusive access to other amenities, and other perks a resort casino could offer a high-roller.
4451  Economy / Economics / Re: Is money the root of all evil as the poor to thinks? on: June 16, 2021, 02:22:22 AM
This is generally a misconception. But, well, it depends on how you interpret it. Basically, it presupposes that people are doing everything for money itself. I mean, they are willing to cheat for money, step on someone's toes for money, even kill for money. That's what we see everyday. Wealthy people are shirking tax responsibilities. Government officials, although already rich, are into corruption and plundering the nation's wealth. Law enforcers are accepting bribes. Companies are not paying staff and worker well. On the ground, ordinary people are also doing their own stealing and cheating for money.

But I personally don't think this is all about money itself. It is more about people than money. I mean, yeah, money could make you do whatever you want, but it's one thing to have lots of it and feel empty and another to have just enough and feel genuinely satisfied.
4452  Economy / Economics / Re: George Soros and Bezos have paid almost zero taxes on: June 16, 2021, 01:55:11 AM
This is a sad reality, and this is happening not just in the US but also in most countries as well. If the wealthy can do this in the US where the IRS is supposedly functioning pretty well, it could be more easily done in other countries, especially developing ones, where the rich people are always above the law.

The advantage of these wealthy few is that they could hire the best lawyers and accountants who could easily exploit the law, particularly the shortcomings and imperfections thereof, in their favor.
4453  Economy / Gambling discussion / Re: Does implementing a tax on a gambling platform really help a country? on: June 16, 2021, 01:25:47 AM
Now I'm wondering, does implementing a tax on a gambling platform will really help a country?

Of course, it does. The country needs money. The primary way for any state to acquire money is through taxation. Gambling platforms are just one source of tax revenue for the country. And I don't think they should be exempted.

As a matter of fact, if I were to decide, gambling platforms should be paying more taxes than other businesses. It is because gambling is a luxury. It is never a necessity to anybody. If the state is imposing taxes on the most basic of needs of its citizens, there is no reason why it shouldn't do the same, even more, to gambling.

Finally, gambling platforms are money machines. They are like wishing wells where people throw money into. They have a lot of money. They should pay up.
4454  Bitcoin / Bitcoin Discussion / Re: What is the most optimistic result of Bitcoin? on: June 16, 2021, 01:03:41 AM
And that's where we are most likely going to be. Well, first and foremost, Bitcoin is already a currency as of today. It is already functioning as an alternative to fiat. It is already being in use in global transactions. But the development is still ongoing for Bitcoin to really become the day-to-day currency of ordinary people.

However, it may happen that Bitcoin won't ever become a mainstream currency. It will be up to the people to freely do whatever they wish with their Bitcoin. I don't have any problem with it. Bitcoin may later on become just a reserve currency or simply an asset worth keeping more than spending.
4455  Economy / Economics / Re: USA dollar and USA economy are Not Same on: June 15, 2021, 02:37:40 AM
You can argue about it any way you like, but at the end of the day, it all boils down to the economy. For a time, you may still have a strong demand for the USD despite an unstable US economy. The US government may print and print money out of nothing in order to support crumbling companies. But if massive economic bail outs remain futile and bankruptcy is still taking place one company after another, then the hollow currency will start to become apparent. A currency unsupported by an economy is nothing. You cannot have a vibrant USD and a failing US economy.
4456  Economy / Economics / Re: Inflation expected as high as 4% in Apr in USA on: June 15, 2021, 01:48:46 AM
Winning on the side of having a mortgage cannot make up with losing on the side of having to confront with rising prices or devalued savings. The former is but a minor consolation for a generally unpleasant situation.

Anyway, the fact alone that fiat depreciates in value over time makes Bitcoin more interesting and attractive. The higher the inflation goes, the more attractive Bitcoin becomes. Anything whose value is appreciating or remains constant is much better than fiat. So stocking up copper, tin, and so on is way much better than keeping a fiat savings account.
4457  Economy / Exchanges / Re: Transfer from binance.us to binance.com on: June 15, 2021, 01:23:29 AM
So if I want to transfer from binance.us to any person in binance.com (excluding myself), i won't be able to do it from binance.us?

Afaik, you can if it is indeed owned by a different person and can be proven. But in your case, both accounts are actually yours so the above rules apply. Even if you do it secretly, I can't guarantee whether your 2 accounts will be fine forever. Especially if you have made a lot of withdrawals to the same address.

ok, understood !
So i can transfer to a friends account and then ask him to transfer the funds again to my binance.com account. I understand that transfers from binance.com to binance.com are free

Thanks

I don't understand why you will have to force yourself on Binance.com. If you are a resident of the US, you are not allowed to use Binance.com. Of course, as others have shared, you can get away with it using VPN. However, as history has proven, Binance may suddenly ask you for a KYC despite not reaching the transaction limit for unverified users.

Now, if you have 2 valid IDs from separate countries, I'm afraid it will only complicate the issue further. Here you are with the same name, birthday, face, and so on and is located in two different countries. That might only trigger more suspicion.

Yes, you can use use Binance.com with a VPN even if you're from the US but that is courting risk, frozen funds, and a locked account.
4458  Economy / Gambling discussion / Re: Big companies finally had enough of the excessive tax on: June 14, 2021, 01:39:45 AM
I guess the government will have to weigh on the primary purpose of the tax increase and its unintended consequences not just on gambling itself but also on other things such as the sustainability of football leagues in the country.

They will have to set priorities and do a careful study as to the practicality of the policy and its overall impact. There is a possibility that instead of aiming to raise cash, the policy would backfire and would only significantly decrease gambling revenue.

Also, gamblers might end up reducing their gambling expenses, or perhaps many of them might shift to illegal gambling for the sake of shirking high tax responsibilities. As a result of a dwindling income, gambling businesses might close shop or leave the country.

If the policy is to discourage gambling, I doubt it will be that effective unless efforts against illegal gambling are also intensified at the same time.
4459  Economy / Micro Earnings / Re: Do y'all know a website that rewards btc or any coin by solving captchas? on: June 13, 2021, 02:43:46 AM
I've seen one before but I lost. A way to earn crypto as easily as solving captchas is also wanted or something that rewards without investment/free. Currently I am mining and farming but being that i dont have a lot its not earning  a lot
So what are some ways to earn income online? I will get a job but what are some things I can do at home?

A lot. If you want to earn without necessarily investing, you could write articles. A lot of online contents such as those in blogs, pages, review sites, and so on are products of freelancers. You could also create video contents if you have the skills. You could also apply for such jobs as virtual assistants, tutor, or even online teacher. I guess you know basic conversational English.

If you have the money, you might also want to try online selling. That's one of the businesses that are seen rising in this pandemic times. I have also read a number of play-to-earn crypto games, those which are using NFTs. I have read a number of times how a lot are earning from playing Axie Infinity, for example.

Just try to explore, join groups and pages, ask a friend, and so on. Just be careful, though.
4460  Economy / Economics / Re: Are you investing in crypto currency alone? on: June 13, 2021, 02:08:20 AM
My country is in a terrible situation right now. Of course, I am not referring to the billionaires and millionaires out there whose lives are not really bothered by the pandemic. But the huge majority of ordinary people are really tightening their belts to make sure they will survive this pandemic. The COVID situation in my country is unbearable not so much because of the fast spreading of the virus as the losing of jobs, closure of small businesses, and so on.

I'm not investing into crypto alone. I have stocks, real estate, small businesses, and others.
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