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4901  Economy / Gambling discussion / Re: has anyone here in profit after gambling ??? on: August 05, 2021, 05:41:44 PM
I managed to win 1.875btc on a now-defunct gambling site with their roulette game right before they pull off the exit scam. This was years ago, and that's the only win that I ever experienced that made sense to me. After that, I just accepted that I do gambling for fun, and that a win like that would never happen to me ever again. Right now I never won anything save for a few unexpected wins and some free rolls that I receive on the platform that I'm using. For sports betting, I always win, but the money that I get from those immediately goes to my funds on dice, and I just lose it thereafter Cheesy
4902  Bitcoin / Bitcoin Discussion / Re: Uruguayan Lawmaker Proposes Bill to Treat Crypto as Legal Tender on: August 05, 2021, 04:15:09 PM
It appears that most of those who embrace the possibilities of using crypto in a broader sense than what is currently available are those countries that experienced some sort of economic instability in the past or in the present. That explains a lot considering that even lawmakers and those people whom we are expecting to go against crypto legislation are the ones actually pushing things to get the momentum started. Uruguay isn't really a poor country per se, but to see that it is pushing for something most developed countries haven't really looked deeper into is really fascinating. It may be a long stretch to have bitcoin approved as legal tender on a country that has a functional economy and very high quality of life, but it's still great that some minds have already been thinking of bitcoin even though they don't necessarily need it.
4903  Other / Archival / Re: The impact of Musk & Saylor's Tweets on Prices & Investor Sentiment on: August 04, 2021, 11:54:30 PM
It's amazing and equally annoying to know that these guys have an insane effect on the market that is very evident no matter how you look at it. Add to that the number of their blind followers willing to do as they say in exchange of the hopes that they will make bank on what these figures say online. Most of those who follow them are there to just make bank and nothing else. They treat these personalities' tweets as a god-given signal that shouldn't be ignored, otherwise they will miss an opportunity to get some money on their pockets or whatever.

Musk isn't really for the environment when he said that he'd reconsider Tesla payments if he gets the data about miners going green. It's just another day in the office to manipulate the market in his own silly ways.
4904  Bitcoin / Bitcoin Discussion / Re: What hatred do people have for Bitcoin? on: August 04, 2021, 10:18:54 PM
Some people just love to hate what they don't understand. Some have grudges on new and current tech because it contradicts what they previously believed on. People will always have their own personalized reasons as to why they don't want a certain something, and I guess that's okay for as long as they don't really become a nuisance to some other people or groups of people that have differing beliefs than them.

Well, I guess let the hatred flow from their veins and be done with it. There's nothing we can really do about it honestly.
4905  Economy / Exchanges / Re: Coinbase New FUD on: August 04, 2021, 08:55:59 PM
This will only affect Coinbase and not much on bitcoin. They have been receiving lots of these types of request and cases in the past and so far nothing has been successful into bringing them down. Well, if this new lawsuit gains traction and actually attracted lots of backers and testimonials against the scammy behavior of Coinbase, it will not be the end of the world. Bitcoin will still function perfectly well and would not really harm the network in any way, though some effects on the market can be felt that's for sure.
4906  Economy / Gambling discussion / Re: Accumulating small odds or choosing one or two big odds on: August 04, 2021, 07:52:07 PM
I personally would just pick the big odds carefully rather than risk betting on an accumulator even with guaranteed odds. You'll never know if one leg of the accumulator would fuck up your whole bet. Plus, it reduces your anxiety and the games that you need to watch in order to monitor the status of the bet. Less time for you to spend, more things you can do on that time as well.

Single bets are still, IMO and my own experience, better than doing accumulators. You need to have games that are 100% winnable before betting on accumulators with low odds because that small percentage can turn against you.
4907  Bitcoin / Bitcoin Discussion / Re: Increasing acceptance level - Cryptocurrency on: August 04, 2021, 05:28:35 PM
It's good and all but certainly not something that is economically feasible, unless we're using cryptocurrencies with low transfer fees and are also fast to confirm.

Great to see that the common folk are seeing cryptocurrencies in a different way. Perhaps a lot of them are thinking that cryptocurrencies are get-rich-quick vehicles due to other people's testimonials, but we couldn't blame them though if they are living in awful conditions.
4908  Other / Archival / Re: Paypal and Their Cryptocurrency Wallet on: July 31, 2021, 03:45:11 PM
Paypal is trying really hard to poach the retail investors that are highly interested in cryptocurrencies but can't seem to find the time to research on their own and trade on their own. The payments company making things easier for people is good, though their current wallet does not allow people to really have the full experience of owning and actually trading crypto. All they have is Paypal's word that what they have on their account are cryptocurrencies. Over time, for sure they will introduce an actual cryptowallet, though I guess by that time people have moved on to other services which offers the same thing.
4909  Bitcoin / Bitcoin Discussion / Re: Amazon Puts Down Bitcoin Use Rumor on: July 31, 2021, 02:35:02 PM
Only those naive people would actually believe that Amazon will ever integrate bitcoin in their systems. They clearly don't want anything to do with crypto in the mean time, and the job posting itself doesn't mean that they are working on the integration of crypto on the platform. Amazon is likely just exploring new tech and create something similar for their own platform, and not use any crypto that is already out in the market for quite some time now.

Good thing they shut things down before it makes yet another mess in the market.
4910  Bitcoin / Bitcoin Discussion / Re: Why is Bitcoin worth so much? on: July 31, 2021, 01:28:41 PM
First mover advantage? Lots of huge companies trusting bitcoin more than any other coins? Established market with lots of traders, businesses, and companies involved? There's a lot of things that contribute to the valuation of bitcoin, and those that I mentioned were not even half of it. While it's true that the technology, the gimmicks, and other goodies are superior to those new coins compared to bitcoin, some of those are not really useful to those who will use it.
4911  Economy / Economics / Re: The Role of Government in Crypto on: July 31, 2021, 11:44:39 AM
The government's role is to ensure that all things are done legally within their jurisdiction, and to keep things fair for all parties involved. Currently I don't think most governments have plans to support cryptocurrency growth and development within their respective countries given the current landscape. While there are regulations already being drafted for cryptocurrencies, most of it are basically trying to keep people away from crypto as it still pose some serious risk towards people. Perhaps when the scene is more matured and more developed will the governments finally draft something positive with cryptocurrencies.
4912  Economy / Economics / Re: Is it easier to HODL if you are already rich? on: July 31, 2021, 04:02:19 AM
It is somewhat easier to invest and make your money work for you when you're already rich but that still depends on your knowledge. The couple that you mentioned understood the risks at the time, and gambled with the money that they have believing that it will be worthwhile. Had they not known better, they would have sold in the middle of the crashes and just lose money, but instead they endured and held strong from the pressure to sell at a loss.
4913  Economy / Economics / Re: Cryptocurrency derivatives are banned in the US, but traders don't care on: July 30, 2021, 11:55:01 PM
Binance and FTX will be releasing statements that they increased their effort to block US customers. That's what I'm expecting the articles to be published in the next hours or days so they won't get into more trouble with US regulators. Best of luck to VPN users hehe.

In practice, merchants are using virtual private networks (VPNs) designed to mask the country where they are based.

That is the common route. And if Binance is really serious on their efforts in blocking people from the US or other countries with similar law, they would really up the ante on their security measures and systems to block even VPN users to access and trade on their platform. But that isn't the case, as Binance is still earning money from these pseudo-banned users by allowing them to use the existing loopholes in the system.
4914  Economy / Economics / Re: Bitcoin doesn't care about Tesla and Amazon on: July 30, 2021, 11:13:51 PM
Once the whole market gets over the initial excitement that these huge companies provide because of their involvement in bitcoin, it is a done deal. Just look at what Elon did with doge and bitcoin. A lot of traders, outsiders, and other people believed and followed his every word on Twitter, taking it as the gospel for investments until it led on to crashes and mayhem. Now, people still follow Elon’s moves on crypto, though a large portion of those who initially believed him are now ignoring what he’s saying online. The market matures, and it can literally shake off those who try to control it as time passes.
4915  Economy / Gambling discussion / Re: Cryptocurrencies price and their effect on gambling industry on: July 30, 2021, 10:43:18 PM
Crypto casinos need to keep some of their reserves purely in crypto, otherwise they wouldn't have anything to pay their customers if someone gets a juicy jackpot on one of their games. It's one of the risk that they need to accept since they are dealing with cryptocurrencies on their platform. They can convert some of their crypto assets to USDT or any other stablecoin to gain some $ profits, but they have to convert it back again in order to have something to pay for their players.

For the players, I don't think the change in $ price matters much, especially if the amount is on the low side. But then again, some of them are surely regretting that they spent much btc/whatever crypto on a casino rather than just playing with USD directly.
4916  Bitcoin / Bitcoin Discussion / Re: What's holding back Amazon & eBay from adopting Bitcoin? on: July 30, 2021, 09:25:02 PM
Adding a new payment method with little demand in the market means spending resources and time on something that wouldn't be beneficial for the company. Honestly there are only a few people still interested in using bitcoin as a payment method, due to the fact that the fees are not really economical for small purchases and the wait time is longer when compared to the payment methods that they are already accepting for their platforms. Regulation also adds to the hindrance, though I think with enough support and backing from the private sector, regulation would be quite easy to accomplish—with the right connections, of course.
4917  Bitcoin / Bitcoin Discussion / Re: Getting paid in Bitcoin vs getting paid in Fiat on: July 30, 2021, 08:13:11 PM
It’s in the person to decide which currency would they want to receive in exchange for their work or their craft. I myself am okay receiving cryptocurrencies for something I do on the side, as I add those into my investments stash and merge it with my other crypto holdings. I am a bit afraid to do KYCs to enroll on exchanges due to different data leaks from even huge companies, so I ensure that I only do basic verification to just exchange a few coins to cash whenever I need to and that’s just it. This question is highly subjective, as there are different use cases for either currency.
4918  Economy / Gambling discussion / Re: Will physical casinos accept crypto someday? on: July 30, 2021, 07:03:03 PM
The lack of a clear legal framework for cryptocurrencies are probably what’s stopping physical casinos from accepting cryptocurrencies on their platforms. The gambling industry, while raking in a lot of tax money for the government, is still in a very delicate place due to a lot of concerns re: ethics and whatnot, and accepting currencies with no legal backing should be the least of their worries. In time, perhaps, this can happen. But for now it would be very improbable.
4919  Economy / Gambling discussion / Re: Weekly/monthly financial statements, which do you prefer? on: July 30, 2021, 06:02:44 PM
I would still prefer monthly statements for whatever it is that require my attention on my finances, be it on banks or on gambling platforms. I usually keep my finances in check and really verify everything up to the last cent, and I want them organized as much as I can in order for me to not overlook any amount dues or whatnot. For my gambling history, I just check my deposit history and add them up to see how much I spent for a month. I don't really care so much about profits since I gamble to have fun and not to make some money off of it.
4920  Bitcoin / Bitcoin Discussion / Re: Bye Bye Bitcoin on: July 29, 2021, 11:59:39 PM
The article doesn't really add up anything to the discussion as to why bitcoin isn't worth something. It basically is someone's personal rant on something that they don't fully understand, and how everyone should avoid it just because they don't like it. Articles like these are appearing from time to time and aren't really anything that's particularly interesting, or something that is really worth reading. Those who do not see value in pseudo-anonymous payments are probably those who are okay to give their information without even asking what the companies and governments are going to do with it.
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