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5201  Economy / Gambling discussion / Re: Why there are so many people who get addicted on gambling? on: March 21, 2020, 10:13:41 AM
Why wouldn't they be? Once you got the taste of winning a large amount of money off of a single play, you'd also get addicted. It's a mindset of people who are largely in need of money after all. Most of the addicts can be clearly associated with that type, while the other would be just for pure enjoyment. Now, these type of people, most of them are actually rich/huge source of founds which makes their gambling lives a lot easier compared to the former ones, and at the same time, is a lot easier to remove them from addiction.

I read a book titled " A subtle art of not giving a fuck". Some might have read this and really, addicts can be placed on some of the situations here. Like in the start, where we keep chasing what we don't have, which really just emphasizes our desires and the like. This gives off the depressed-ish atmosphere around us, leading our life to sunk more and more into that kind of life.
5202  Economy / Gambling discussion / Re: Which cryptocurrency do you use for gambling frequently? on: March 21, 2020, 07:51:37 AM
Most casinos use famous coins listed in exchanges such as Bitcoin, Ethereum, Litecoin, Ripple, etc. Even if the market were to crash so badly, I doubt they would change such usages since a market crash would most likely affect every coin out there. Sides, the USD conversion changes depending on the price after all so I doubt there would be much changes.

I use mostly Bitcoin and Ethereum, depending on what I have on me at the time. If I have both, then I just pretty much just alternate between the two, or maybe just a whatever moment and use either. Not much difference tbh. As for separating the investment and the gambling, I mostly convert my current USD to crypto then gambling. I don't use my current investment in crypto in gambling. I kind of have different notions between the two, hence the separation.
5203  Bitcoin / Bitcoin Discussion / Re: is this the best time to teach about bitcoin? on: March 21, 2020, 06:49:54 AM
There's never a best time for anything. As long as one wants to learn about something, then that moment would always be the best time to start after all. It doesn't take a disaster for one to learn first aid, it doesn't take a job hiring for one to learn the process of it right? Also, BTC was never a business, and I doubt it would ever be. It isn't some sort of magic word where once you got some, you'd magically become a winner in life, nope it isn't one.

Sides, BTC was never beginner-friendly. I doubt it would ever be. It's pretty much like how accounting works, a lot of terminologies and such are required for you to actually learn what it is, how it works and the like. But if you only want to use it, then use it. People are probably afraid to touch it because of the keys that are used, which is filled with numbers and letters, and let's be honest, anyone with no prior knowledge about tech would probably be scared as well if they were to be shown something like that which is required for every transaction.
5204  Economy / Speculation / Re: Cryptocurrency price is coming back. on: March 21, 2020, 06:02:38 AM
Luckily it has. Panic has most likely subsided after a few days of being quarantined I guess. So far, no big news have been brought out recently, which is probably an additional cause. Not to mention that vaccines are already being tested and is currently in its first phase of testing. Guess all of these factors brought about the decision for a few traders to come back and invest, especially now since the price of Crypto is pretty low. Still, it's moving quite erratically right now with huge ups and huge downs, so I guess investors aren't really back in it, but rather just traders looking for profit amidst the low price it currently has. They still are trying to get as much as they can everyday, just in case for when a calamity comes because of the virus.
5205  Economy / Gambling discussion / Re: Anyone here succeeded a friend to play online gambling now that casino are close on: March 21, 2020, 02:59:31 AM
Well, we have been playing online for quite some time now so no need. Hell, with no money at times, we just play together and make some dares and the like to make it more fun tbh. On another note though, this could be a good time for players to transition to online gambling and the like. Not only players, but also the way people transact with bills/payments/etc. It could be a time where companies could slowly implement online payments, and even online work stations if possible. We are at the age where those are completely possible after all. The only factor that prevents us so from doing that is workers being unable to adapt to it properly.
5206  Economy / Economics / Re: Coronavirus/Covid 19 Impact on World Economy Hit Bitcoin on: March 20, 2020, 10:17:13 AM
There's no suggestion to be made tbh. The only solution for the world economy to return to its usual movement would be for a vaccine to be made, and currently, medical centers and scientists for that field are already doing their best. The first phase of the testing of the recently made vaccine is about to start and well, other than waiting, we have no other choice. The quarantine can prevent the spread, yes, but it isn't a perfect solution. Not only that, even with the vaccine out for testing, even if it does work, there are still more tests for it to undergo through. The FDA has already made arrangements for the vaccine to not be used until it is verified that it is safe for human intake after all
5207  Bitcoin / Bitcoin Discussion / Bitcoin trading by Italian Banks on: March 20, 2020, 08:54:07 AM
Recently, Italian banks have opened up their own crypto trading services. Not only is it for trading, but the crypto traded can also be used as a mode of payments for goods and services. It's also a timely decision by them especially with the quarantines happening all over the place, and even if there wasn't one, people would still be quite afraid of going outside in fear of being infected by the virus. Don't tell me about how the chances are close to null if there isn't anyone infected in your place, fear can be quite a fearsome thing.

It's quite encouraging that even among banks, some fully support the development of Cryptocurrency and would even be the one to start influencing their fellow countrymen of its existence. Plus, they're also fully integrating it into their everyday transactions. I'm not particular about the specifics of how the system does the trading, but based on the article, no KYC is involved which is another plus factor imo.

Source: https://cointelegraph.com/news/italian-bank-opens-bitcoin-trading-to-12-million-during-lockdown
5208  Bitcoin / Bitcoin Discussion / Re: Efficiency of using a card with the use of cryptocurrency. on: March 19, 2020, 12:38:29 PM
Its nice how they integrated the card with Visa payments. Visa can be pretty much used in almost any type of online transaction which makes it very useful imo. If the concept of card usage is implemented, various stores around the world should start implementing qr codes or the nfc chip instead (which is better) in their mode of payments. This really makes the world seem like at the age of advancement already, where the idea of fiat payment is not really that much needed. Of course, there are still possible security concerns over it in the near future, but well, that's still to be considered, but in the future.
5209  Economy / Gambling discussion / Re: Corona virus (COVID19) Effect in Cryptocurrency Gambling on: March 19, 2020, 10:43:04 AM
It's not like people have nothing better to do than gambling. Especially with the quarantine on, most people would probably find ways to go to their works and would most likely spend more time thinking about those things compared to when they were able to gamble. The issue here is that the quarantine gave time to those people that are students (mostly), but for those in the workforce, I think it actually added more load to them, since they have to think of a way to get to work while being safe from harm of the virus. And even if they did work at home, that's another issue altogether of time.

Additionally, spending money on gambling right now may not be the best idea, especially since you don't really know when something could hit you. You get the virus, supplies ran out so you have to buy it farther away or buy it at a more expensive cost. Stuff like that.
5210  Bitcoin / Bitcoin Discussion / Re: 60% Wiped Out - Will Bitcoin Have a Hard Time Finding Investors After This? on: March 17, 2020, 10:34:57 AM
This is just temporary. It's not like Bitcoin died or anything, it's usage become non-existent or something better than it came up ( and even if it actually did, i'd guess a split or so of investors). Mostly because of the panic currently ongoing around the globe, Bitcoin has dropped down by such a huge amount. A lot of factories have temporarily closed down, a lot of businesses started closing down temporarily as well, people have no source of income (temporarily) and they are in need of money to spend towards supplies (*ahem hoarding ahem*).

Expect that once a vaccine has been made, panic would quickly subside and the market would probably start going up like really quickly. Why? Because the most threatening problem on the eyes of the populace is gone, so they'd probably strat returning to their everyday lives. Once they see the market and it's price, who wouldn't buy it up right?
5211  Economy / Gambling discussion / Re: Gambling and KYC on: March 17, 2020, 10:16:47 AM
Weren't a few countries requiring gambling sites to have KYC to guard against minors from playing? Though if we ignore that fact, Exchanges are in the end, strictly involved with being a middle man of sorts. They don't actually take a hold of the money, but rather exchange between the two parties or the like, so if one party renegades (does something illegal), strict implementation of rules is done and to do so, KYC is required. If you look at gambling, however, it's just most of the time the gambling company and the player itself. If the player loses, the company gains money, if the company loses, the player gains money. It's a strict relationship where money only flows between the two, so I doubt KYC/AML is that needed. And in most cases, players wouldn't even have any negative claims about their money. Why? Cause the money they deposited in the end goes to the company, not back to them.
5212  Economy / Economics / Re: The Economy around the world will be very bad in April to May 2020!!! on: March 16, 2020, 12:24:00 PM
I dont think the title is quite fitting for the topic. Sides, to each their own, not like Muslims fasting is gonna make the economy any worse than it already is right now causing of the virus. At most, more possible victims are to be listed, but that's it. And really, there's no difference between someone fasting and someone not fasting. They'd both still get infected as long as someone infected is near them. If not fasting was a cause for people to not get infected, then why the hell did the virus even start spreading no? And at such a wide scale at that. Besides, fasting is a diet done to boost your system, as for the specifics I don't really know much, but it isn't a negative thing. Look it up tbh, you'd see the benefits of it.
5213  Economy / Speculation / Re: Will Bitcoin reach $ 3884 again? on: March 16, 2020, 12:04:14 PM
If the possible cases of fear increase any more than it already has, possibly. Initally, the huge drop was caused by the economic crash caused by the mass spread of the virus, causing various factories and businesses to temporarily close down after all. If it were to increase anymore, naturally, more fear would spread and hell, if that thin line of calm was actually broken down, I have no doubt mass panic would come down, even worse than the hoarding done by a few citizens from different countries.

I expect the price didn't go down below 3.8k was because some people tried to take advantage of it and bought it at the low prices it is back then. Possibly because of this, we could see that a lot of people might acknowledge that BTC hasn't reached its bottom yet, hasn't reached the bottom caused by the panic of the virus.
5214  Economy / Economics / Re: Corona has killed economy of many businesses on: March 16, 2020, 11:56:04 AM
Isn't kill a bit too much to use as a description? I'd use halted or something similar. It's not like a temporary stop is going to kill the entire company from the ground up, more like a setback or the like. Yes, it has huge damages, but as a company, they should be pretty much able to safely reduce the damages to a minimal, and set up a plan to cover for those damages. Sadly, those can't be implemented until the virus still persists.

The antidote for all these problems? Pretty much the vaccine. As long as one is made, the market would probably go back to normal, the business would slowly start going back to work, Hell, they may even put out various offers and the like to satisfy the needs and wants of the citizens after a long time of being quarantined. Tests on humans would start by April, as said by the article below, and they pretty much had a headstart regarding cures because of the efforts of China as well as the advanced research made by vaccinologists.

source: https://www.theguardian.com/world/2020/mar/16/when-will-a-coronavirus-covid-19-vaccine-be-ready-human-trials-global-immunisation
5215  Economy / Gambling discussion / Re: Gambling is like day trading ? on: March 16, 2020, 11:30:22 AM
Day trading is based on personal opinion, on how the market works. On this sense, some factors can easily be seen that could affect the market, such as what are the prospects of the coin, what are the possible factors that could affect it and the like. It could be clearly seen but it honestly depents on the person himself on whether he could actually determine the future movement of the market depending on the factors. As for gambling, its kind of the same but different as well. On games, there 's always a random algorithm followed which makes the game truly random in of itself, thereby giving you no chance to actually formulate a strategy for it. As for gambling on games, well, those gives you clear odds regarding each team, depending on their performance and such but it isn't that rare for a black horse to suddenly come out and completely reverse the odds given.
5216  Economy / Speculation / Re: What is happening ? on: March 15, 2020, 04:31:27 PM
Panic. Virus panic. At that moment, it really was crazy, seeing it drop off from 9k to 3.9k. The drop from 9k to 8k was relatively slow, but it suddenly dropped quickly from there to 3.9k which was really surprising. It wasn't alone though, literally everything dropped, from the crypto market to the stock market. At this point, we can all see that the only reason would be the panic caused by the virus as well as the economic situation all over the globe, especially for the stock market. We could also say that since the economy is currently going downhill, Bitcoin followed since it is quite reliant on it. Even if we do say it is a safe asset, it didn't seem to do well under heavy effects of panic.
5217  Bitcoin / Bitcoin Discussion / Re: How would a global recession affect cryptocurrencies? on: March 15, 2020, 12:55:35 PM
Crypto in general? Drop most likely. Not only crypto, everything would literally crash down. Now if the gold acted like how it acted to the virus right now, you can expect that banks and the government would have no way to remedy the problem quickly. Safe havens were made assuming that their values retain the same value even in dire situations, but with it also going down, you can expect a lot to go haywire.

As for Crytpto being a possible safe haven, I have doubts but I initially thought of it as one actually, Bitcoin specifically. But sadly, Panic holds a huge factor in recessions and it seems like Bitcoin doesn't sit quite well in temrs of panic. Just look at how the panic over the virus has caused the current price.
5218  Bitcoin / Bitcoin Discussion / Re: I though Bitcoin was created for this moment? on: March 15, 2020, 12:25:20 PM
Bitcoin was sort of created for decentralized transactions, cheaper and safe ways to transact without others knowing. Additionally, the economy has dropped down throughout the entire world, so I guess that could be said to be one factor why it was affected quite hugely. In the end, it hasn't seen any days of being a safe haven, so I guess the idea of it being one isn't enough to support it as one. Plus, compared to other safe assets today, you could say that Bitcoin is still pretty young so maybe in the future? After all, most people see Bitcoin/crypto as an investment, and not as a safe asset, sadly enough.

Still, this probably was a great chance to see how the current Bitcoin could hold up whenever a possible crisis is coming up, one that is quite threatening to the economy. It didn't hold up to our expectations, yes, but it may change quite well in the near future no?
5219  Economy / Gambling discussion / Re: CS:GO and Betting on: March 15, 2020, 10:55:44 AM
I don't see any problem with such tournaments going online. Unlike soccer or basketball, people that compete at CS: GO don't really need physical space to perform their actions, and they're doing everything on their laptops anyway, right? People won't be able to watch them in a stadium or something, sure, but maybe that's even better for the contestants as they'll be less distracted than usual. At the same time, the win wouldn't feel the same without all that support, so I am not sure.
As for the concerns about playing worse online, it's hard for me to get it when it comes to a game like CS: GO.
Wireless gameplay and LAN gameplay can actually have quite a huge difference in online gaming, especially an fps game at that. Plus, the audience isn't really a distraction or anything, pro players wear an insulating type of earbud in their ears so that they are unable to hear audience reactions while still hearing audio from the game itself. Additionally, there's a setting of 128 tick servers and 64 tick servers. Yes, you can both play online and LAN, but having a LAN connection while playing on 128 tick can make a huge difference in playing, especially if you're up against other pro players.
5220  Bitcoin / Bitcoin Discussion / Re: Is Bitcoin Doomed ? on: March 15, 2020, 09:01:05 AM
Upvote. The bitcoin is not doomed, just that it has suffered the repercussions done by the virus to the economy. It's just like how one thing is dependent on the other, Bitcoin is dependent on the current state of what or how the economy is. With so many companies temporarily stopping their works, countless countries' economies being affected by the coronavirus, it'd only be natural you'd be seeing a hit. Initially, i actually thought the virus had no effect or maybe did have but didn't have that major of an effect. Turns out the virus has already hit the world pretty hard, and seeing that, you'd have to make some kind of connection to the drop and to the virus.

Still, most of us most likely expect a return to normal market after a vaccine has developed, in which the populace would stop the mass panic and well, the virus effect has subsided. Prices would probably surge by then due to the effect of it having low prices now at times of trouble/disasters.
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