The use of the yuan instead of the dollar by Russia and other countries can have some impact on the US economy depending on the reactions of other countries and financial markets. For example when yuan reduces the demand for the dollar, it can lead to a depreciation of the US currency and can make imports more expensive for US consumers and businesses. It will also make US exports more competitive in markets that use yuan. Use of yuan can also increase trade and investment flows between China and other countries which can create new opportunities for US businesses that are able to compete in these markets. If the yuan becomes more widely used in international transactions, it can become a reserve currency alongside the dollar, which can help to diversify the global financial system and reduce the dominance of the US currency, something that  is not favorable on the side of US dollar.

I think that  the power yuan has as a currency for China and Russia is still relatively limited compared to the dollar, and any shift in this direction for other countries will take time and will not be easy.

Big profit does not mean that it should be bigger than the cryptocurrency return. Real estate and cryptocurrency are completely  two very different investments because they have unique risks and rewards. Return from real estate can be from rental income, appreciation, or resale. It is more stable and less volatile than cryptocurrency because property values tend to increase over time and real estate is a tangible asset that can generate rental income. I think that's why older people invested from it is because aside from the fact that they have no enough access yet in cryptocurrency, real  estate is something that they can use and at the same time earn income and easier to manage. Whether which one is the better investment depends in our financial goals and risk tolerance.


Compared to real estate, cryptocurrency is a highly speculative investment and the risk of losing all of your investment is high. But yeah, young peple still have a lot of time to make mistakes and learn but we just have to make sure that we can afford losing the money that we are willing to risk.

You can't do the same thing you are doing all over again and just wait for years to have return. A small business that continuously improves its business process is less likely to get bankrupt than the one who started huge and just keeps on doing the same thing. Ideally, if you had a lost in your initial year of operation, you can continue up to three years provided, that you still have the working capital to continue. But there is no such timeframe for closing down an unprofitable business, as long as you have faith in what you are doing, you can continue.

Personally, I will start the business related to book publishing if I have the money. Regardless of how unprofitable it will be in the next years, I'll continue doing it because I love it and because I have the money. But practically speaking, people start business to earn profit, so if it no longer earns profit, you have to close it.

I think it will completely change how people will live their day to day lives. Imagine adopting bitcoin and everything around you adapts, it'll will be inevitable to change your lifestyle as well. In financial institutions, I think one by one people will adopt Bitcoin as a means of payment and there'll be more competition in the banking industry. Some, especially businessmen, may choose to use Bitcoin exclusively which can lead to a decrease in demand for banks. Since Bitcoin is decentralized and if it will remain decentralized, it will not be controlled by the government but it could have implications for the role of governments in controlling the demand and supply. In the end if bitcoin will become a worldwide currency, it has to work hand on hand with the government and the latter has to adapt with the cryptocurrencies' policies to ensure stability. And I find this ironic, government adapting to the crypto's policies, the same reason why I don't think wealth and power will be distributed appropriately. Those who have invested and started in Bitcoin early could become extremely wealthy, while those who have little or no knowledge about it at all may be left behind. It will also be difficult to implement equity since taxes and rules can't be imposed as needed because there'll be limitations.

Tho it is very notable that Bitcoin will have a major effect in all the factors stated, it cannot completely replace the traditional systems that we have. Little by little people will adapt and it'll take hundred of studies to actually learn how to utilize Bitcoin in the global economy.

I think China made a huge decision in crashing down cryptocurrency mining because of energy consumption and financial risks that they saw and it a kind of decision that most countries cannot afford because of its people. They did it at the earliest possible time to ban mining before cryptocurrencies go wide but I'm seeing that there is still a chance to get back to mining. If I were a citizen or a resident of China, I won't be able to optimize the benefits that cryptocurrency has to offer.

Tho the government of China is just doing it's job by implementing what they think is good for their people which is reducing carbon emissions and transitioning to a more sustainable economy, someday they would have to accept the consequences of those.


I had to verify which is which in these replies because I haven't heard any news that China is back on its feet again in mining. Tho there are some miners that started mining again after moving overseas or using remote tools while being inside the country, mining remains uncertain in China.

It's funny but it's true, most of the time it's about the referral link. I think why common gamblers may not invite their friends to play as well is because they know the feeling of being too invested in gambling. They may not want to involve their friends in their gambling activities as they may not want to encourage them to experience the same as well.


Yeah. Inviting friends or relatives to gamble can be risky financially because there is always the possibility that they could lose money and be unable to pay it back. This could strain relationships and cause tension which are things that we won't like to happen.

This is interesting. ECB has always been cautious about Bitcoin and has expressed concerns about its potential impact on financial stability in the economy. It even considered BTC as a highly speculative asset and called for a global regulation. Not sure if being threatened is the right right to describe ECB but  bitcoin's something that they wouldn't allow to expand its role in the economy without getting regulated.


I think that flashing Bitcoin logo on ECB building is used by supporters as a form of publicity or protest. It is a way to raise awareness about the potential of cryptocurrencies that most people don't know yet. Those who have faith in bitcoin believe that it represent a decentralized alternative to traditional currencies that we have that are controlled by the government. The way I see it, edited or not, that logo on the building is a form of expression and a way to draw attention to an alternative financial system.

I haven't gone yet to any bitcoin event but I think it does benefit the attendees. What I was able to attend where webinars regarding cryptocurrencies and yes, it did help me because I was able to learn more about bitcoin and the broader cryptocurrency world. For people who were able to attend actual and virtual bitcoin events, I think it will be their call to make connections and create potential business opportunities with the people they met in the events. Also, attending these kind of events can help individuals stay updated with the latest trends of Bitcoin. It will always be worth it if you make use of the opportunities that you unlock after attending those events.


Yeah, I agree. Usually those kind of events are quite expensive which only make those who can afford to attend. Most exclusive networking events of bitcoin are designed for professionals in the industry such as investors, entrepreneurs and are focused on business development and networking opportunities. Sometimes, it is also in terms of accessibility. Time and place of events just not align with all people, especially the working class.

But there are also many community led bitcoin events such as webinars and workshops that are open to anyone interested in learning more about the cryptocurrency. We can always just start.

Upon reading your post, I think it is totally fine to be skeptic about RNG. But I agree with you that casinos' use of RNG is only to generate completely random numbers and the outcome cannot be predicted. There are third party companies that make sure that the game is not biased and that all players have the same chances of winning.

I doubt that starting casinos can afford to cheat on players by manipulating RNGs  . Implementing and securing an RNG system is an expensive process that requires a significant investment and I think they won't risk it. Most starting casinos just focus on providing fair games to attract players and establish a positive reputation so they will be chosen over competitors. I think while it is possible for any casino, including a starting casino, to manipulate RNGs to cheat on players, the risks and consequences of doing so are significant and it will be unlikely for any legitimate casino operator or casinos hoping to be huge to engage in such practices.

I think it can but not for a long run. Maybe it can operate for a couple of months without being caught without getting caught by the authorities. Especially for business owners who want to optimize their casino business, and take advantage of the benefits that they can take from the law  they would like to make part of their business legal. Their credibility, success, and popularity will depend on how much they would want to risk.

I think the word stupid is used inappropriately and should not be meant to define old generation as literally stupid. We've been there too where we had no knowledge of Bitcoin, the only difference is that they have less or close to access about it. It must have also been a privilege for us to know about Bitcoin because we've grown up with technology and we're comfortable to take advantage of it.

Some peopke automatically have negative perception towards bitcoin because they don't understand how it works and how valuable it can be. Once heard, they juts try to ignore it and settle on the shallow knowledge that they have. Also, maybe they've already heard some people who get scammed and associated it with Bitcoin right away. Tho it's good to be skeptical, it's better to answer those questions we are curious about.


Tho it's important to have much faith in Bitcoin it is also equally important to considering negative views and news about it. By knowing those, you can make more informed decisions about your next steps and you'll manage the potential risks associated with those bad news.

I think you've got it wrong. Cockfighting here in the Philippines is subject to 5% final tax. The 5% amount of their winning is withholded by the establishment therefore the amount given to the winner is already net of tax. Even online sabong winnings is subject to final tax. But it becomes complicated in collecting taxes from illegal cockpits since those are not regulated by the government.


It does look like that but in reality, it is the players who pay the taxes that the gambling business owners submit to the BIR. Business owners deduct the amount of tax payable to by the winner before giving their money from winning. Failure by the business owners to do this will cost them penalties.

They are certainly not the same. You can try again, like once, just to see if you'll win for the last time but not until just you actually win because what if it took you to bet all of your available fund? I think it is not a worthy closure at all. Chasing losses is completely different from finding closure in your lose. You can have closure without spending too much time and money to earn it back. You can learn not to do the same mistake again.

Yeah, Philippines does. I don't see it it as a penalty, it is more like an obligation to pay tax from all sources of income, legal or illegal. It just becomes impractical and challenging to collect income taxes from illegal winnings because it is not regulated by the government. The usual reason why Filipinos get mad when we have high income taxes to pay is because we cannot see where the taxes are going or if we do, it falls in the wrong hands and places.

You'll never know the right time to buy altcoins, you just have to do it. That's why people are doing reseacrh first and follow market trends so they'll be prepared for the consequences of their buying.

I think Bitcoin has the potential to change the world's financial system an dbecome its currency. Tho it has a lot of thing to work on first and concerns to address, its unique features make it attractive to both the rich people and ordinary people.


I think decentralization of bitcoin makes it attractive to people who do not like government controlling their assets and this is something that we have to look after. Bitcoin has the potential but at the time it is governed, I don't think that it'll be the same bitcoin.

It is actually safe to keep money in bank. The only question is which bank. I haven't heard any bank yet that offers 100% return of money upon bankruptcy and I think it's usually because of government regulations that take care both the industry and consumers. In our country, we are only guaranteed a maximum of 500k for a single bank. It balances the economy. Tho it is important to save money, it is much better to circulate it. That's why rich people invest their money in other projects instead of just keeping it in a bank.

I think it's natural to happen because when you think through it, everything is political, including religion and cryptocurrencies. People will disagree but we have to still respect each other by finding our common grounds and hearing everyone's thought like having this kind of forum.


There is even a law in our country that separates the church and the state but it is inevitable for people to associate the two since those can be encountered and considered in everyday life.

Investing so little and hoping to earn a lot is something we should be careful of, I think it's very risky. But I think it can happen, especially for those who started early in certain kind of coins and have faith in it that they waited for years to have a guaranteed return.


Yeah. Luck has a big contribution, I believe. But for people who are patient and dsicpilined in handling their assets, I think it's easier for them to take advantage of luck when it comes to them.