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I don't know what OP means by the word area. It could be a regional area like a country or an area as a sector of the society as a whole: like tourism, industry, commerce, agriculture...
About countries it's already clear China was ironically the most benefited one during this pandemic, recovering really fast, even though the virus came from there. On the other hand, if foreigner countries don't recover economically fast, China will see its exports decreasing in volume, what will affect them really negatively, since a huge part of their income comes from exports.
About economical areas as a whole I think tourism is one of the most affected ones by the pandemic and once it is over and restrictions are ended, this activity will start flourishing again. It's important to notice tourism is a very important activity especially for third world countries which appeal to the natural elements of their countries to bring foreigner money to their pockets.
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I believe you shouldn't worry about bitcoin losing importance because it will still hit much higher prices. Billionaires are trying to manipulate the market because they know how strong bitcoin is, especially on long run, so sometimes they have to lead people to lose interest for it, what causes a drop in prices, giving themselves the opportunity to buy cheaper coins and pump the market again in the next moment.
The strategy these guys use is to make common investors lose interest for bitcoin, so they accumulate more coins and consequently have more influence in crypto universe on long run. That is why many people here advice others to not sell their coins, to not be weak hands.
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What I'm saying is, the government has the most qualified people who evaluate the economy and they see the numbers, so they'll not likely make a bad decision to create a law without the right basis.
Every increase in taxation is really good for a country as long as it will serve the right purpose. It's a valid point that government will rely on their source of revenue for those industries that are not affected during the pandemic and one of those is gambling. As long as the added percentage given is reasonable, gambling owners will fairly accept it without a problem. I'm not sure any business owner can accept any tax increase without problems! Even if the casino has super profits, I'm sure they pay huge taxes as it is... So why should they accept a tax increase? And this is me talking about civilised countries, especially since in such countries taxes are actually used properly! When we say taxes, it should not be for specific people only, it's for the same business and the implementation is equal, the tax due would only vary according to your profit, low profit means low tax and high profit means high tax and it will never be possible that you'll not pay any taxes on your business. The message of the government is very simple, when you have a business, you are obliged to pay taxes, and since they are the ones who regulate and implement it, they can also amend taxes and most likely it's an increase than the decrease, and as an investor, you have to deal with it, choose whether you continue or you stop because you can't anymore pay the taxes or your business is not profiting anymore. It sounds like slavery. The government has a supreme power that forces people to pay increasing taxes along the years otherwise they can't run their businesses or even live normally, just like the punishment for slaves when they didn't work or didn't work properly. Furthermore, governments never detail in a easy way where all these taxes are going to. Every product you purchase, every service you hire, every activity you execute have a tax attached. So it would be also natural to have an information about where this money is going when paying these taxes, what doesn't happen. The message taxes send is: when force comes on the scene, right goes packing. |
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4. John Daly - Lost $55 million While he won an impressive $35 million, he lost and even more staggering $90 million, working out to a total loss of $55 million. After losing, John Daly switched from $5000 slot machines to $25 ones. There's nothing wrong by playing in moderation, it means that we are learning from our mistakes and it is a way to stop the impact of a huge losing streak. Our goal in gambling is not just to be rich but to experience the fun in it. $25 slot machine is still a slot machine right? Interesting how even winning 35$ millions wasn't enough for this man that he continued persuing even more prizes and ended with a loss of 55$ millions. That is a clear example of greedy in gambling. I believe 35$ millions are enough for anyone to have a stable, confortable life while still gambling moderately forever without worrying about financial issues anymore. It's sad when people receive the opportunity of their lives and throw it in the garbage without thinking twice. |
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questions:
will will government regulations on cryptocurrencies undermined crypto decentralized nature?
Yes, because regulations are part of centralized systems and if they start affecting a decentralized one, this system will become centralized as well. Crypto currency wasn't supposed to be affected by governments' intervention, because it should stay under control of the common individuals only, without the presence of middlemen or demigod regulators who play the cards in traditional financial system. But that is just theory. In practice things never work as they were supposed to be, because we find many obstacles that are the personal interests of different people, corporations, groups, agendas and so on. |
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Well, for me it wouldn't make much difference, because I can check it anytime at the personal history of the account. It doesn't take too much time or effot to check some lines and add all the values to reach to the final value. Anyway, it's not something I would worry very much because all the money used for gambling purposes is considered already lost. It's not like an investment which I need to follow closely to check if I'm in profit or loss, so I end it and put the money in another place if necessary. If the person gets too much obsessive regards gambling money spendings I think it's better to not gamble at all.
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It has nothing to do with being rich or poor. The rich could aswell be taking big risk if all his/her money is invested in Bitcoin at once. I think what is important is to invest part of your money or what you can afford to risk/lose, whether you're rich or not. Don't put all your eggs in one basket in an uncertainty world.
The point is that the rich have another sources of income or more money stored in their accounts. We could compare it to ammo. Let's say a man has tons of ammo and don't need to worry about aiming the target, because he has enough to shoot in all directions and still hit it without worries. On the other hand, another man has just one bullet. so he has to make very good use of it, being strategical, calm and patient to hit the target and not waste his only chance. That is clear the first is in a much better position than the second, although it's not impossible for a poor person to be also benefited by bitcoin. It's just more challenging. |
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Probably this guy was just joking, because even though he didn't buy bitcoin at 2,70$ range, he must surely have bought it some time later, after bitcoin became more bullish. So far bitcoin has been very good for investors, because there is always a new opportunity for them. Many have already rejected one or few buying offers and still managed to start investing some time later for a cheap price.
However we don't know for how long bitcoin will keep offering opportunities like this to investors yet. Someday it will pump so intensily that no corrections will be able to push it down again. When this day comes it will be too late for new investors.
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Many people are getting paid in Bitcoin these days, as the cryptocurrency grows in popularity worldwide. A salary in Bitcoin is quite a lot different than Fiat. There's no middleman to go through, so the coins are deposited directly to your account without any ID verification whatsoever. Transactions take from minutes to hours in a completely anonymous manner (sort of). One might say it's easy to avoid taxes when getting paid in Bitcoin than getting paid in Fiat. After all, no one will know you own the coins unless you disclose it (or the government is able to link transactions to your identity). Yet, Bitcoin's highly unstable price makes it a terrible currency for day-to-day payments. Which type of currency is better for paying employees? Is it Bitcoin or Fiat? Do you think we'll be able to see more jobs paying Bitcoin in the future? Or will Fiat still dominate the jobs industry? Is working for Bitcoin just like working "under the table"? Your input will be greatly appreciated. Thanks.  For most people payment in fiat is better, because it's widely accepted by every stores and services. If they received their wages in bitcoin, they would have to convert it first to fiat in order to use the money. This operation would decrease their liquid wage and purchasing power, since a percentage is needed to complete the exchange. On the other hand, if the person doesn't use his wage entirely during the month and save a lot of money, it's better to get paid in bitcoin, because this way he will cashout BTC more rarely, paying less fees, and consequently having a large bitcoin growing investment without the need of purchasing it every new month and paying more fees. The key point is how much you can avoid paying in fees by getting paid in Bitcoin or fiat. So it really depends on each person. |
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It is still a process that is still opening up. The system is not totally free now as you still have restrictions even with online casinos that ask for KYC. Physically, you have some government making hate speech about cryptocurrency except the government that are adopting like El Salvador, it can commence from there but is a gradual process and casino is yet to be a popular physically gambling setting to start adoption of cryptocurrency. It could take more 5-10 years for that to start happening.
It's true. By now it's not possible due to restrictions imposed by local regulators, but International Game Technology, a big gambling company is already trying to introduce crypto currency to traditional casinos as deposit method. They just need the permission of the regulators to achieve this goal, what takes a long time and a lot of bureaucracy. As far as I understood, gamblers could deposit crypto currency from their wallets directly to the casino's machines and receive an equivalent amount of fiat in the machines they are playing at the currently moment. If that is really the case, I see no benefit at all, because gamblers would be still gambling with fiat. Regards this point online casinos platforms are much superior and it looks like they will remain like this for a long time. https://bestbitcoincasino.net/are-land-based-casinos-accepting-bitcoin/ |
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Children don't have money to gamble. They can watch videos, lives and even sign up at a casino platform, but it will be useless without money anyway. Parents just need to be careful with their credit cards and crypto currency wallets, because there are some cases of children who used parents' credit cards to purchase in game items without permission. So I don't doubt a son of a crypto gambler could do the same thing using the coins of his father in order to gamble.
Well I have the same with this thought, --children don't have money to gamble but they can watch it, at that young age, they even don't know how to pay online, but parents should always take care of their bank account and avoid not linked to their child device. Just like what happened here in my country, there is a couple who had lost thousands of money in our local currency because of their sons purchasing online games, they did not know that it was linked to their bank account and it was automatically deducted once it was successfully purchased from google. The same on gambling, we should keep our bank account safe since they don't have money, they can not able gamble even though they can watch the video, --but still they need parental advice and as long as possible parents should monitor what they watch. Yes, situations like this are happening often because children have access to mobile devices and computers with internet access since a very early age. Furthermore parents let their children alone with these devices for long hours daily playing games which display premium offers all the time during the gameplay. It's just a matter of time until these children click the offer and finish the purchase. The same happened in my country: a kid of about 8 years ago managed to take his mother's credit card and spent some bucks in an online game. The amount was about 40$ only, but still a considerable amount for a poor family. After being caught, they made a video where he apologized while crying and said he would work to pay his mother back. This is just one example that became really popular on social medias, but there are many other cases. |
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Children don't have money to gamble. They can watch videos, lives and even sign up at a casino platform, but it will be useless without money anyway. Parents just need to be careful with their credit cards and crypto currency wallets, because there are some cases of children who used parents' credit cards to purchase in game items without permission. So I don't doubt a son of a crypto gambler could do the same thing using the coins of his father in order to gamble.
Another point to notice is that when a kid is too worried about gambling and earning money it's because something is missing in their house, because it's definitely not a normal thought for a kid. Kids should keep their minds busy with another kinds of ideas and activities. Parents must also guide their children this way, to make them stop thinking about stuff that don't belong to their stage of life.
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What kind of trading are you referring to? If it is day trading there is no difference if compared to gambling: they are the same thing. You can research whole days without sleeping that it won't guarantee you any profitability in the end, because luck is also needed besides knowledge regards the crypto assets or gambling games you are engaged on, since games' results are random and crypto fluctuations are speculative, not being possible to justify them with logical predictions most of times.
Just keep in mind these activities aren't so easy and profitable like some people make it sound on the internet and take a break sometimes. Don't rush into gambling and trading. Do it a little every day or every week and you will find out if it worths for you or not.
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So it's not totally bad and if there people willing to gamble on this sport at least they are helping those athletes to keep the sport going on and letting them have a career for living.
Totally disagree, it's the other way around. It's the sport that's keeping the gambling industry for boxing alive. Idk if boxers (or any other sport for that matter) receive money from sports betting companies, but even if they did, I'd reckon it's a pretty small part of their total salary. The sport helps gambling industry and the gambling industry helps the sport. It doesn't need to be necessarily advantegeous only for one side. If there wasn't money involved in boxing sport through gambling I doubt it would have the same importance it currently has. Part of the public doesn't want to be entertained by watching the fights only, they also want to practice their prediction skills to try earning some money. Gambling without boxing would remain the same, without any decreasement in profit, as gamblers would easily find something else to bet on, however boxing without gambling would indeed suffer some financial losses. |
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First of all I think you should ask why athletes still want to practice boxing knowing all these negative consequences you mentioned and are well known nowadays by everyone, since we can observe the example of retired fighters who had their bodies broken or deformed and mental health heavily damaged.
I believe some people are too violent and this kind of sport works as a solution to avoid them being aggressive in their daily life.
You can see many children who bully or punch other kids at schools are sent to practice a fight sport like boxing. So it's not totally bad and if there people willing to gamble on this sport at least they are helping those athletes to keep the sport going on and letting them have a career for living.
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I dont think so because it is part of the gambling business and there must have been a TOS that was read before gambling. and on average it is clearly stated that gambling with personal responsibility. because it is a personal matter and should not blame anyone but the one who did . in every country has a different tought , culture and rules with this.
Correct. Every gambler must agree with terms and conditions before signing up in a casino platform. He accepts taking the risks and the responsabilities for every of his actions inside the platform. The rules are clear as are the risks, so the casino really doesn't have any responsability for any harm that might affect the gambler. After all it's the gambler who is harming himself, not the casino. The problem is that nowadays there is a clear tendency in blaming activities and inanimate objects (in the case of guns restrictions) instead of blaming the individuals, that are the real guilty in every cases. |
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One of my neighbours, a million years ago, was obviously addict to the slot machines. He would spend hours spinning in a nearby bar (these machines are allowed in bars in my country of origin) and my take is that he would spend a fortune on it. Once, I passed by and I overheard him saying "I am going to teach this machine who is in charge". It sounded like he was attributing some short of conscience and life to the machine and though he could "beat it". I have observed that many people that gamble are into that type of thinking, that is, it is me against this code and this machine and I can actually break the code and win.
I personally do not play slots, but do you think that is why people like slot machines? Short of breaking their code?
Probably this neighbor didn't have knowledge about informatic, programming and house edge so he thought he could overcome the machine. It's a common thought among older people to think like this, because they have no idea how these machines work exactly or how they reach to the final result. I've seen people believing they could win if they click the button in a way or another, or even following a sequence of customized bets, as if it could trigger a bug in the system and reward them prizes constantly. Actually, a bug isn't impossible, but I doubt the bar/casino owner would let the machine there for too long if it was the case. |
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There are many potential good NFTs, but without any doubts the only consolidated ones at this point are those related to Axies Infinity which is growing exponentially each new day and helping crypto currency universe to increase its popularity among gamer public which wasn't involved with the technology before blockchain games were introduced. It's a very positive point for the industry, because with a new public, more people will engage and bring fresh money to crypto, increasing the demand and consequently the prices of the assets in the market. It's good to see new kinds of adopters besides the usual speculators coming in.
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By observing how bitcoin behave during this pandemic I would say yes, it's a good investment in this pandemic situation. Bitcoin has hit its ATH during this period and after a deep correction the price is already rising again (and the pandemic isn't over yet). Crypto market doesn't follow the logic of another markets, so it's not a surprise the pandemic was positive for BTC.
I risk saying it is due to the fact investors are fearful of their traditional investments, which involves fiat and the recovery of their local economies, while bitcoin becomes a safe heaven for their funds if things go wrong in their countries with an increasement in financial crisis and fast devaluation of paper money, or in other words: inflation out of control.
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Almost everyone is hating on him right now. There are a lot of things he is doing that harms others while he is gaining benefit. Instead of making him smile as people keeps talking about what he is doing, let us just focus on how we can still win at the game he is playing. Crypto is too strong to be ruined by a man who is worth billion in net worth but has no firm foundation with regards to crypto. Sooner or later, he would be nothing for all of us and those people who outsmarted him will only laugh at him for all the things he have done.
All small investors can do is to keep holding. The truth is that common individuals don't have any influence in this market. Whales play the cards and fishes follow their moves hoping to be benefited by them as well. My fear is that crypto currency totally loses its credibility because a billionaire proved he can play with prices, turning a decentralized environment into a totally centralized one around one individual by the free will of investors. That is ironic and shocking.  |
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