The biggest market declines come before the recession.

The recession may come but it will probably be a boring period where the economy slows down, but prices don't decline anymore. The greatest decline comes in the time where people panic and try to desperately save what they can by letting staff go and getting rid of their more risky investments, which leads to recession.

This slowing and numbness could be observed in bitcoin too where the Terra Luna crash created a much bigger sell off in crypto than FTX despite FTX being a much bigger and more important event with much more money being lost and more people affected.

I don't expect big losses in bitcoin's future.

I don't agree. You don't have to be a trader to be successful.

Would you say that early investors had to know when to buy and sell?

I bought my coins years ago, earned some along the way. I think I'm somewhat successful because my bitcoins are worth much more than when I got them. I don't know when to buy or sell, I just buy whenever there's a big drop in price and I try to get as much bitcoins as I can. I don't sell them, It's a wealth allocation strategy.

I'm planning to hold as long as I can and if I'm lucky bitcoin is going to be worth hundreds of thousands of dollars before I start thinking of using it. If it takes 10 years, so be it.

The problem is his malicious intent because he was supposed to destroy them and told the buyers that he did but it was a lie. I don't think that it's just addiction. Addiction leads to destruction of your own wealth. When it leads you to steal from others it makes you a criminal. He's not just another addict. He's a thief.


Since I follow the don't trust - verify rule, I'd never get caught up in this scam. I'd treat the item as a gadget, maybe an investment since they can go up in value.

Now it's a strange situation where on one hand these wallets were involved in a scam but on the other there won't be any more of them made so they could go up or down depending on the community's approach.

I avoid KYC as much as I can and I know certain crypto exchanges and casinos that use KYC to steal your money. They give you a choice that you either do KYC or they won't allow you to withdraw, which is theft if you ask me, especially if you could create an account and deposit money without KYC, but you need it to withdraw.

Don't cheat them by giving a fake name because this can result in them banning you. Bu doing it you're supplying them with arguments they can use against you.

I don't watch streamers which is why I haven't seen this guy before. I've checked his stream right now and first thing I heard him say was that he was launching an NFT and trying to get people to buy this shit. When I see someone push a worthless NFT down his viewers' throats it's an instant red flag. If this guy had any credibility it was all gone at that moment.

It's another unfortunate situation where greedy people destroy everything they were building by being themselves - greedy scammers. The guy had a successful streaming business with some nice income, a group of dedicated followers, money saved up, and he lost it all by being a greedy asshole. I hope he doesn't recover from it. The crypto industry doesn't need more scammers.

This is a very good point by her attorney. If they claim she was playing a broken machine then all previous players should sue them and say they were not informed the machine was broken when they played and lost and all bets on that machine for the night should be returned to players.

If they settled out of court it means they offered her some real money not a stake dinner. If I were in her place I'd tell them that either they pay me 10% of the win, or we'll go to court and the whole world will know how they treat their clients. Even if I ultimately lose this will destroy their business because nobody will want to play in a place where every win can be blamed on a malfunction.

What if I won 1 million instead of 43? would that be a malfunction?

I feel like this is my lowest point with all my money in investments and the market going down for more than a year now.

I've never been really poor and never had to borrow money from others but as time goes by I kept investing more and more, putting all my money into it and expecting to have enough left to go by but in the recent months the prices of goods went up so much that my bills are 30% higher than a year ago. I'm spending 50% more on food every month and all that with 70% drop in bitcoin, so I'm not doing too good.

Do you know a better alternative?

I agree that the current system is confusing, especially to new users. The verification also takes time. Nobody is going to do that during a fast-paced game like dice where you click and get an instant result but provably fair has become an industry standard. Nowadays when you don't use it you look suspicious.

How did that work out for you? Did your luck turn 180 degrees?

I agree that people might not be optimistic until they get this feeling of halving being just around the corner but that doesn't mean they'll be willing to dump.

I feel like we've reached a period where there's not enough bullish people to start an uptrend but those who wanted to sell did so and people who still hold bitcoin went through a drop from a possible bottom of 30 thousand down to 15. They aren't going to get scared now because another 50% drop is very unlikely.

We're going to stay in this range until something really bullish happens that drives the price up.

Accumulating is always a good idea, but I'm really confused by people who didn't want to do it at 16 thousand but want to do it now. It doesn't matter in the long run if you bought at 17 16 or 15.

That's correct. You can't rely on your wins, that's not a way to make a living. A gambler can be at a loss for a month or two and if that's his only way of making money he's going to starve. What if you have a family? Are you going to tell your wife that this month you won't be driving anywhere because you're out of money for gas?
Gamblers who live out of gambling are either affiliated with casinos, or own casinos themselves.

I don't think so because to make a living you need consistency. You're not talking about winning big one time and living the rest of your life on that win, we're talking about winning monthly, maybe weekly.
That's something nobody can guarantee you and you or anybody else should not live worrying if they will have money to pay the rent next month.

Gambling can be good supplementary income especially when it only takes an hour or two a day to make predictions and place new bets. What are you going to do with the rest of your time?

Don't try to make a life as a gambler. Be a professional in something and then a gambler in your free time.

I like how this casino looks, but unfortunately I don't have money and time to seek licenses and hire people to run support and coding for me.

What you're selling is the base, a shell of a casino. Real casino is everything that happens in the background like cold wallets, deposits and withdrawals, verification. You'd have to set limits for people from certain countries or face charges.

Even with the site built this is not an operation for one person.

Due to the transparency of blockchain real whales won't hold all their money on a single address. They know anybody can watch these addresses and they don't want to start panic whenever they move their coins and they don't want to share with the whole world that they gave coins to someone or bought something worth a lot of money.

Newbies end up watching big addresses that belong to exchanges and people like Michael Saylor and other big whales will keep on doing what they're doing without anybody noticing because they have 20 separate wallets with 10 million dollars in each of them. 

That's right. When you win enough to have doubled your starting deposit you should withdraw it and have fun with the rest without fear or remorse.

OP won some money and couldn't stop thinking about it, wanted to keep playing. Came back and lost it all and it did not happen because of luck or superstition. It happened because you can't keep winning in a game of chance. Most people lose so if you managed to win you should have at least take your profit and have a break instead of coming back the same day.

I'm not superstitious but your luck has its limits.

It's either that or a centralized exchange wallet.
They'll do everything for you, make the API as easy as possible and you won't get any annoying seeds or private keys because they'll keep all of that secret.

The problem is, when they decide they don't want you to get your coins, you won't get them. When they decide they're going bankrupt, you'll go bankrupt too.
You either learn or you pay someone else to do it for you and hope that person does it well. That's how it is in every aspect of life.

I'm glad you got your coins back. Make a list of all the coins you're holding to make the process easier next time.
Keep those seeds and passwords safe.

Cuban is like a feather in the wind.


Mark Cuban says he’d rather ‘have bananas than bitcoin’ because they’re more useful
Published Fri, Oct 4 2019
https://www.cnbc.com/2019/10/04/mark-cuban-on-the-value-of-bitcoin.html

Billionaire Mark Cuban Is No Longer Excited About Crypto
Sep 8, 2022
https://www.thestreet.com/investing/cryptocurrency/billionaire-mark-cuban-says-crypto-is-missing-something

I hope none of you is investing because you saw Mark Cuban or Kevin O'leary speak about bitcoin.

That's not a bad choice as long as the key is encrypted. You wouldn't want a thief who robs the bank to easily get into your life savings.

It's enough if the encryption is good enough to give you a few days in case something happens and someone steals it, but then comes a thought: why choose a bank when you can put the same encrypted file in a watertight enclosure and hide it behind a tile in the basement or in a brick wall, or whatever.

Nobody is going to demolish your house looking for your seed and if they do it's going to cause so much chaos and take so much time that you'll know about it and move the money.

Forecasts...

There's a group of people, especially if you go to certain social media portals, who are trying hard to keep the price down by making constant bearish predictions.

One guy who I won't mention by name here but his initials are G.S. (if you watch some youtube crypto you know who it is) goes from one channel to another as a guest and every few days pops up with the same bearish prediction. I saw him in 2022 saying that bitcoin would go to 12k before Christmas then before New Year, now he's saying that bitcoin will go to 9k in 2023. He's wrong but doubles down every time. Every time I see this guy I say to myself "get this idiot out of my recommendations once and for all"

Bottom line, don't believe in any forecasts. Those who sold will tell you that it's going lower. Those who already bought or are holding will tell you it's going higher.

This reminds me of a time where after going to bitcoin.com you would get a buy bitcoin button and it would redirect you to buying bitcoin cash. I remember that they changed it after the community got vocal about it.

There's so many ways to store cryptocurrency and choosing to hold it on a platform that doesn't show you private keys is the worst. There's so much that can go wrong.
If their login server goes down you won't be able to take your coins out even when the company is ok and they haven't been hacked or anything.

We are all human. If you're wondering whether your coins are safer in your hands or in the hands of these "professionals" know that they also make mistakes, they get greedy, they get into trouble with law, they get sick. They can have an IQ of 180 and make a dumb mistake one day because they were tired or distracted.

People who trusted brokers working in the World Trade Center with their money didn't take into account that one day a plane will crash into it.

It usually comes down to the numbers.

If a casino gets a lot of unresolved accusations, eventually people will begin to lose trust in them.

The reactions will go from "unresolved? it's probably a cheat attempt by the player" to "there's something going on with that casino because it's a 5th time someone complains this week"
Trust me, the community works even when there's not enough solid evidence against a casino a lot of accusations can change how people see the business.