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5041  Economy / Economics / Re: Rate hikes cant give much value to Fiat currency btc vs Fiat on: February 17, 2023, 07:50:42 AM
I simply don't know what initiated this post by the OP, such is so ill-informed, and I don't know why people are always pitching Bitcoin against fiat as if Bitcoin can survive without fiat.

Well, if you must know, nothing is eating nothing, there are times when fiat will thrive and nothing will stop the thriving of Bitcoin when its time comes. The USD for example has proven itself to be so dependable and dominating in the world, so it should be disregarded entirely because of Bitcoin? Common!!! Wake up.

However, the rate hike in the world is not to threaten anything but a measure to limit the effect of inflation on the economy. It's a regular world standard practice, so what?
5042  Economy / Gambling discussion / Re: Choosing between your relationship and gambling. on: February 16, 2023, 10:30:25 AM
Initially, I thought the older cousin did not have time for the fiancee because of gambling before I realized that it was about forcing him to quit. Well, a party in a relationship should not force things on the other, that should is not acceptable. Courtesy demands the fiancee to take her time to investigate the situation and know how responsible he is towards the act. See, there are best husbands and fathers that gamble, and there are most irresponsible fathers and husbands that do not gamble. For someone to be gambling does not mean he's irresponsible, so the fiancee should not condemn him. Since this earns him extra income, I don't think is a bad idea in all ramifications.

#Case study:
My wife (then fiancee) about a decade ago frowned at the fact that I drink alcohol. But as a man, I let her know that I can "never" quit because I don't abuse it. She talked and talked, but I did not listen. On getting to know me and my drinking habit, could you believe that she's the one using her money to stock the house of it till today?

Once what you do makes you happy or supports you financially, I see no reason why you should stop it.
5043  Economy / Gambling / Re: Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds! on: February 16, 2023, 09:52:19 AM
Really a crazy idea to bet that way but I think he just want to test he's luck then try if you could win that since its a good win for him if luck is on his side. But tables turn down and he encounter a big losses so I guess its better luck next time to him, but I'm sure he regret those action he take because losing 1.4 million USD in a single bet is a bad experience to get a any gambler.
All is this thing's will happen to everyone of us if we can not control our self as we all know that in the world of gambling we must double and plan in our single moves because if greed will take our mind so there's no way out. Through greed we loss everything. And 1.4 million USD is quite big amount of money to loss and this gambler we can say is that his luck is not on his/her side for this time.
There are many who want to bet safe and bet at very low odds so that they can win the bet very easily.  And for low odds they have to bet a higher amount to get a better amount of profit.  So here this guy bet 1.4 million dollars at 1.01 Odd and if he won here he would have profited about $14,000.  But even with such an easy bet, he lost the bet and lost $1.4 million. This may be the cause of his bad luck.
I know a friend how did pretty similar thing on smaller scale, started with 500$ on safe bets and got to 3k after some time. At the end he lost on an bet when he placed live at score 1-0 (soccer 87min) that it would end with less then 3goals. In couple of minutes it was 3-1 at the end and he lost it all. The strategy can work but when to go out needs to be known.
What a story! But I would love it if you can clarify better. What I could infer from your story is that your friend started with a safe bet but ended aggressively, am I correct? Because we can't call it a safe bet anymore when the gambler resolved to bet all his money in just a live game, am I also correct?

No game is certain except that some are worth trusting, but when it has become live, I see nothing safe in that. Perhaps, people often mistake the term "safe bet."
5044  Economy / Gambling discussion / Re: Bitcoin gambling problem on: February 16, 2023, 09:28:09 AM
It's nice to see nonprofit organisations doing a thing like this, and have bookmarked it and will, in turn, share it with others in case they know some people suffering from gambling addiction. People stigmatise a lot and instead of proffering solutions, they will condemn, which aggravates the suffering of people with addiction. Thankfully, a resourceful site like this exists, it will help a lot of people to achieve their sense back.

Addiction is real, it could cost someone their lives if care is not taken, and it takes one's determination to overcome it for real.
5045  Economy / Service Discussion / Re: What after localbitcoins.com shutting down on: February 16, 2023, 07:55:58 AM

In a centralized exchange the price of crypto is set by exchange itself, which is a monopolistic practice which is not in the case of p2p as people set their own margins for buying or selling, there is competetiveness..

2ndly for a crypto to be cashed out, either you choose to go centralized exchange or you use p2p exchange which provides an escrow service,
We see many scenarios where cex falls out of liquidity because they have to cash out funds for users, which is not the case in p2p as people trade among themselves..


A centralized exchange is just a platform like eBay where the seller and buyer set their own price and when it matches the trade will execute on an exchange whereas in p2p when someone posts a price and if you feel its okay then you will proceed further and that is the difference if you don't realize it in case.

Secondly, I can give thousands of examples of scams that happened in p2p which means the fiat sender gives false payment receipt and give some excuses for the trade to be released so the risk exists everywhere and not really exchange like Binance runs out of liquidity. Tongue
There are many centralised exchanges that have helped the crypto space so much in the past, and people often look for ways to cheat their services such as P2P services. This is a big challenge but I still do not believe that it's the main reason why Localbitcoins decided to stop their service. Paxful and other rivals are doing well and recording regular yearly gains to buttress my point.

What I believe is that they (Localbitcoins) are short of partonge compared to cost of running their service, hence the need to shutdown.
5046  Economy / Economics / Re: Adani Stocks are recovering but there are still mainstream stocks still stagnant on: February 16, 2023, 07:37:56 AM
I so much appreciate this article as it's what I love to read most as an investor. It's such that strikes my attention on where next to invest my money. I must be cautious as usual, but with my preliminary speculations on the 1D and 5D charts of the Adani Enterprise, I discovered that the recovery is real. I will only do my extensive analysis to be sure that it's buyable. This must be doable for holding for the next 6 months as I averagely do in all my asset purchases.

Perhaps it would take about 3 years for it to enjoy tangible growth as seen on the higher charts.
5047  Economy / Economics / Re: Given the declining trend of inflation, will FED freeze the interest rates ? on: February 16, 2023, 07:22:03 AM
FED was actually aggressive last year in hiking the Fed Funds Rate, which was in line with the plan for the 2022 fiscal year in the face of inflation. It's however too early to judge a halt now as what you called a decrease in inflation is not actually a decrease judging by where it started in recent years, it's just a break, and the inflation could strike again unannounced any moment. FOMC needs to study the situation carefully and give it time before making decisions this year.



Nonetheless, the plan for this year is last dated till February, and I guess the plan will be revisited monthly rather than the situation of last year that was previously known. The interest rate was last increased on Wednesday from 4.50% to 4.75% despite some months of decrease in inflation as seen by the above graph.

More studies are still needed, and who knows if the January inflation report would be so surprising?



Credits: BBC & Forexfactory
I've considered myself a prophet in the financial market these days because almost all that I predicted comes to be exactly as I did. And this is a reminder of the surprising inflation as I indicated in an old reply above for the month of January. It doesn't agree with the OP with the "declining trend of inflation" portrayed by it as I had the view that inflation just corrected, but it's still plaguing. The January US inflation report proves that to be correct as seen below, and inflation might have started scoring again, and this can't be good for Bitcoin if last year's correlation is eventually followed.



Hence, the need for FED and FOMC to be extremely careful and the reason for Federal Funds Rate increase last month.
5048  Economy / Trading Discussion / Re: How the rising trend in CPI will affect Bitcoin price in short to medium term? on: February 15, 2023, 05:46:35 PM
Inflation bit last year, it's my hope that it doesn't repeat this year. Nonetheless, I had warned those that claimed that inflation is gone severally, it was a clear correction then and it has indicated its stance on bullish reversal. Who knows for how long this would last? The US CPI released yesterday as shown below is an indication, and it did not leave any of them out (Core, Normal and Yearly).



This has started affecting the FX market, gold included, but the crypto market is still stabilising. This might be another time for Bitcoin to prove itself as a dependable asset during inflation. But I doubt this if I must be sincere.


5049  Economy / Economics / Re: How Does Debt Crisis Boost Cryptocurrencies? on: February 15, 2023, 04:36:24 PM
The only viable hedge against inflation which is clearly noticed last year is the USDX, it was the only asset in which investors gained while inflation was seriously biting.
USDX? what if inflation hit and your savings were frozen due to the ubiquitous demand for cash advances to survive the inflation spike? clearly USDX reserves themselves, gold, government bonds, and possibly Real Estate as a store of value during an economic downturn. Regardless of all that, when inflation soars, investors will run in search of safe haven assets, including bitcoin. Despite the fact that Bitcoin is not afraid of inflation, investors are riskier for their holdings to remain in full control than the dollar type which is government controlled and easily frozen at any time if necessary to restrain a large printing press.
You are funny actually, who is freezing your money in the USDX because of inflation? So if they freeze your money, they will now turn to BTC, right? You must be a joker. The USDX has been invested in for centuries, even when the global economy is in a downturn and depression. Investment is an investment, no one has frozen anyone's money in fiat investment because of inflation which does not concern your safe investment.

Furthermore, you might invest in USDX in another fiat currency, so it's all about you, and all fiats cannot be frozen because of inflation. But one thing that is sure is that once the company you are dealing with is not insolvent, you will get your money back. Inflation does not have jurisdiction here, and BTC can never take the place of the USD and fiats in many realities.
5050  Economy / Economics / Re: Crypto aid for Turkey exceeds $4.5M in one week on: February 15, 2023, 06:39:08 AM
Although I'm not used to this site of yours, this does not come as a surprise to me, crypto is the order of the day and it is helping beyond anyone could imagine. There are many people that would have wanted to participate in donations all around the world, but the high fee and inaccessibility of a preferred payment method would prevent them from doing so.

Bitcoin and other cryptos have put an end to that, and within a few minutes, they can make their donations, and this comes with a ridiculously low transaction fee.

So, expect more soon.
5051  Economy / Gambling / Re: Recommendations for Real Cryptocurrency Casinos on: February 15, 2023, 06:28:43 AM
Casino should have extra rules about that, just like how casino works with money laundering or potential mony laundering or any illegal actions using the internal exchange, but I agree that having it will bring additional interest with the gambler, if they can exchange their crypto to their desire fiat or another crypto asset, for sure there are gambler that will use the services.

I believe this is already permitted since some casinos have a varieties of coins they support and you can always make an exchange from one to another while on the casino, there's just a slight difference between them and the exchanges but they share this in similarities, all these are what a gambler should check to verify if they have such function that can serve them on this purpose before going far with a casino.
I wonder why some things are the preferences of some people because I see nothing much in getting your money out of a casino with the medium you put the money in. A lot of ways are devised to cheat the world's integrity system these days, and this is how it starts. If any casino is allowing you to deposit through a means and withdraw through other means, I believe they are not to be trusted internally.

They might pay your money, but surely, their regulation is either very weak or fake, that's if they preach they have one.
5052  Economy / Gambling discussion / Re: Premier League Prediction Thread 2022/2023 on: February 15, 2023, 06:14:29 AM
I don't think the defeat to Everton and also the draw to Brentford are not the main reasons why Arsenal are not favored and City are more favored even though the odds for the two are not that much different and from these odds a draw actually looks more unlikely than Arsenal to win or City to win. Arsenal's statistics which are quite poor when dealing with City especially in their last eight meetings seem to be the reason why bookmakers are more confident that City will win this match, and this match is very important for both teams because the winner will be at the top.
Those recent matches are not good preparation of Arsenal for a big match with Manchester City that is very important for Premier League title competition. It won't decide all, won't pick a winner after that but it is very important for both clubs. What team win the match will have so good momentum to move next. If Arsenal lose it, I can not imagine how they will be able to reclaim the first position again. With Manchester City, if win the match, they will temporarily claim the first position from Arsenal and with players they have, they will be able to beat Arsenal in rest of the competition.

Arsenal must win this big match or at least end it with a draw to avoid domino effect.
I partly agree with you on this, and the reason is that as much as we would want to use the old results and performances to judge the match between Man City and Arsenal, we should still know that things are changing. Man City has improved considerably compared to recent times, and Arsenal has reduced in that regard. Yet, this is a crucial match, and Arsenal would want to give in their best as they should have realized their mistakes, and that, it's not yet the time to relax.

It seems the monthly coach award has crept into Arteta's head, maybe this is the time for him to wake up and make his squad do the same.
5053  Economy / Gambling discussion / Re: Is gambling safer than before ? on: February 14, 2023, 01:59:06 PM
It depends on the definition of safety, when it comes to scamming both by trick or by crook, the casino industry is growing worse if you must know. This is why everyone needs their extensive researches before dabbling into any casinos of choice. But when it come to protection of lives and property, I believe that it's safer these days, and the safety should not be from the casino alone, the people gambling must learn how to be discrete at the same time, but many are too lousy.

Frankly, it's the right of any winner to demand their payments through electronic means, which is what I have witnessed casinos doing now. They won't even offer you in cash if the money has reached a certain amount that might raise a security threat to the winner.
5054  Economy / Gambling / Re: Positive Gambling Quotes for 2023! on: February 14, 2023, 08:21:54 AM
I've always believed in the fact that 'the most intelligent or smartest doesn't win the game, the best in strategic planning has the cup.
Also, don't quit, let every experience be a motivation to want to do better.
These are good points from you, I love it because they are more of reality than believing that you know it all. You might learn how to gamble from now till tomorrow and know all the rudiments attached to it and still not make something good out of it.

What guides some better gamblers are their calculations and guided plans to override the principles of gambling through management to their advantage. Not all about gambling itself which is always unfeasible no matter how much you know it and try to beat the system.
5055  Economy / Speculation / Re: What will happen to BTC price if the US defaults? on: February 14, 2023, 08:12:41 AM
You are missing a lot of facts here, which might be a misrepresentation of the situation and what the US and the USD stand for. For the record, the US has never defaulted since over 2 millennia ago, they can't now when it's in the hands of capable hands and better technology and economic exposure.

Your post might have been borne out of the pegging on the debt permissible by the Federal Treasury, which is a debatable issue and could be readjusted if need be.

Mind you, if the US defaults today, which currency would fit in perfectly as stable as it is? Do you think the world would even think of Bitcoin as an alternative? If you think so, then you are joking. Another fiat will be a viable choice, but none can still fit the show of the USD, for now, so the USD will still be preferred.

Even with the US default, it will have a temporary effect on the USD because they will measure it up with a fix as soon as possible, and the effect on BTC (positive or negative) will be minimal.

5056  Alternate cryptocurrencies / Altcoin Discussion / Re: UAE central bank to issue CBDC, promote digital asset growth on: February 14, 2023, 07:52:01 AM
I will always say it, Bitcoin has opened the eyes of the world, particularly the central banks to the need to tap into the most digital innovation in the financial system. With the look of things, no country wants to be last in this advancement, except those that are sadists to the system due to reasons best known to them. However, in the long run, they will be the ones that will regret it.

What you shared is good news from UAE, but one thing I will still let you know is that the CBDC is mostly not working on blockchain technology and all of them are centralized. While a few have some components with respect to blockchain technology but are still purely centralized.

This is indeed a setback!
5057  Economy / Trading Discussion / Re: Trading addiction, are you coping? on: February 14, 2023, 07:37:30 AM
I'm not surprised about this, I've known it a long time ago, trading is addictive, it's obvious. Trading is nothing less like betting, so it might come your way or not, and when it doesn't come your way, you would want to be curious about doing it again believing you made one mistake or another. This will be giving you the mindset that you can do it better by learning/training more to achieve riches through it.

Before you knew it, you would want it more and feel good doing it, and also correcting errors every time and losing every time still in the guise of possible future success.

Many people are wasting money on trading as we speak, while traditional, futures and options trading are the aspects that this affects most.
5058  Economy / Economics / Re: Anyone here into passive investing (of their time)? on: February 13, 2023, 03:49:13 PM
Your article is good and challenging at the same time as I believe that anyone that is not satisfied with their earning needs passive income. Truthfully, how many people are satisfied with their earnings these days? So, many need this but the nature of their primary job matters in the choice of the passive income they can do, especially if they do not want to do away with that job.

For now, the best passive means of income are trading/investing, authoring books, freelancing, blogging, problem-solving, creativity and many more. One could choose the ones that are good for their person and go for them during their free periods.

As for me, trading/investing and book writing are my own, and I hope I will forever benefit from them even beyond my hope.
5059  Economy / Gambling discussion / Re: La Liga (Spanish League) Prediction Thread 2022/23 on: February 13, 2023, 03:02:17 PM
hehehe barcelona continues its march without stopping or retreating
I didn't expect it this year, I'm honest, but this surprises me and makes me happy
What league would it be if only Real Madrid ever won? How boring!

Barcelona acts like a well-established mechanism, Xavi did a good job. There was a lot of struggle in the match, and as often happens in a match with these teams, a lot of yellow cards. And by the way, Barcelona's defense this season is more reliable than ever, maybe Barcelona doesn't score so much, but in my opinion this is natural. Playing back 11 points against a Barcelona like this seems like an impossible task, even for Real Madrid.
Barcelona don't crave for plenty of goals, the moment Barcelona is leading with a goal they just get concentrate in playing very defensive which the opponent won't be able to score to equalize the game.
 Barcelona don't joke with playing defensively in there games.

Barcelona don't crave for plenty of goals and that's because it's not easy for them to score much at the moment  . Villareal dominated the ball possession both in first and second half, they were just inaccurate in their attempt while FCB found luck in their attempt and located the net through Lewandowsky. I doubt you, Barcelona is not known for defensive style of football like you said. They defensive because Villareal were so agile in the attack.
You should not be in the defence of Barcelona too much, every good club must be known for good characteristics, and defence is part of it. There are times that the situation on the pitch would warrant extreme defence strategy, so it's understandable.

Nonetheless, Villarreal was so impressive yesterday, and I love the way you agree with that. Barcelona was lucky and thankfully, they have an experience goal scorer (Lewandowski) who did not misuse the opportunity in the first half before the game becomes more serious.
5060  Economy / Economics / Re: Economic implications of a US-China-Taiwan conflict on: February 13, 2023, 12:23:32 PM
No one prays for war, but the USA-China war might be counting down in years, and many of the US top military personnel have confirmed it. I will only blame the world for this by giving China undue power economically, which might, in turn, alter the balance of the world. The two countries I fear most aside from the terrorism-inflicted countries are China and Russia, while the latter has shown the world how irresistible it is, China is only waiting for opportunities. And with their economic power, they can do and undo, but the implication of the Taiwan invasion will be minimal economically since the world does not depend on Taiwan the way they depend on Ukraine for supplies of sunflower meal, oil, seed, wheat and many raw materials.

Only China might be economically sanctioned and might cause further inflation, but it would not be as impactful since the world does not majorly depend on either China or Taiwan for food and raw materials which are major factors that aggravate inflation, the impact might be suppressible as the world turns elsewhere to fulfil their demands and also cooperate with the economic sanction of China tactically.
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