Definitely because it looks like this exchange is in some deep trouble. There's already a whopping $1 billion lawsuit against them for allegedly scamming investors. That's no small change..... And if they're found guilty, they'll be facing multiple lawsuits from angry investors, and jail time could be on the horizon.

Good thing you're keeping up with the news. If you've got any funds in that exchange, I'd say it's time to pull them out while you still can. As the poster above suggested, maybe give Binance a shot because they've got a solid reputation, and they're regulated to operate as well.

I see now. I didn't realize it because I didn't check the thread creator of their old thread. I was just assuming that it was the same account that had posted. But in this matter, I think mods would likely lock the old thread, as we never know; there might be some inactive users who will bump that old thread. Anyway, thank you.

Are they really going to take the investigation to the Senate? I'm aware that the amount involved is substantial, but I believe it hasn't affected the majority of Filipinos. Investors here are not poor people who are desperate to earn big money; they live a comfortable lives, which is why they can afford to invest hundreds of thousands or even millions. Even if those behind the scam will be jailed, there will still be other scammers who will emerge with new schemes, possibly scamming even more people through different platforms.

I highlighted some of the most popular investment scheme in the Phiilipines below. It's worth noting that there have been previous scams that involved many less fortunate individuals, but no Senate investigation has taken place thus far IIRC. So, I'm skeptical that this new one will reach the Senate.


source ; https://www.imoney.ph/articles/top-biggest-financial-scams-philippines

Welcome back to the forum, once again.

I see that you have an old thread already;  BETS.IO Casino Up to 20% Cashback Every Day | 10-Minute Cashout | No KYC

And according to your post there ;


This means that this will be your new official thread, so I suggest that you lock the old thread to avoid duplication of thread as that is against the forum rules.

The way things are unfolding, it seems we're heading in that direction. Everything involving Bitcoin that the government can regulate, they want to intervene in. Exchanges and even gambling sites now require KYC, and this KYC requirement erases the anonymity that we intended to preserve. It's tough to accept that what Satoshi created for anonymous transactions and decentralization is becoming centralized, and anonymity is being stripped away due to KYC.

Why doesn't the government just create its own digital asset and let Bitcoin continue to function in our ecosystem? I'm sure the massive adoption we hope for could still happen even if they don't heavily regulate the market.

It doesn't matter, though. We are here for the long term, and the short-term movements aren't our primary concern.

With the current state of the market, it seems like the bull run is just around the corner. They say that, according to trends, a bull run tends to occur before the halving. Could it be that this time it will appear earlier? Regardless, I think there's no need to panic if we don't intend to sell.

He must have really thought this through before making a decision. He was offered a massive contract, and it's just for three years, so he won't be locked in for too long. And of course, the chance to play with Lillard, a bona fide superstar, is an opportunity Giannis hasn't had before. This is a bit of a gamble to see if their partnership will work, but even if it doesn't, he won't really lose out, considering the huge amount of money he's already secured.



They became the heavy favorite to win the championship when the trade news about Lillard came out. But now, they are only slightly behind the Celtics, with a very minimal difference. So, in terms of their chances of making it to the Finals, they seem to have a good shot. Bookmakers wouldn't set odds like that if they didn't believe they had a strong chance.

For championship odds
[ https://www.espn.ph/sports-betting/story/_/id/38697035/2023-24-nba-futures-finals-conference-division-odds ]

I love Bob Marley, love his music and its message, so I like to share his statement which I also use to measure my richness.

https://twitter.com/bobmarley/status/1458512404443119620?lang=en

+++

So it's not really about the money for me, as long as I survive in this world with a comfortable life, I wouldn't be chasing a lot of money as I also like to retire spending time with my family, just be happy, I think that would make you rich already.

Even Steve Jobs, in his statement he regret working to hard that he sacrifice his happiness already.


https://medium.com/@vikasjangir/steve-jobs-last-words-d79012fad236

So, that means he's going to be raking in $62 million annually, making him the top earner in the NBA as this list will change.
https://hoopshype.com/salaries/players/

Giannis made a pretty smart move here. I'm guessing he must have been seriously impressed by Lillard's performance during the season , which is why he decided to lock in that contract extension just a day before the regular season kicked off.

The only government department that could dig into this matter is the central bank as they are regulated by BSP. Given the alleged huge amount lost, they really should have launched an investigation right away. Maybe we'll wait a bit to see if any news surfaces about it, but if a whole month passes and there's still no word on this, I guess we can safely assume it's just some FUD.

It's pretty easy to figure out if a user is telling the truth or not. Just take a good look at the reputation of the casino. If a casino has a solid reputation, we'd naturally lean towards believing them over a gambler making negative claims about the casino. Of course, this changes if the gambler can actually provide some solid proof of their accusations.

Casinos that have already built a strong reputation have a lot to lose, so they're more likely to be credible compared to someone throwing negative stories at them. Now, if you start hearing the same story from multiple gamblers, well, that's when things get a bit alarming. But until that happens, casinos keep their reputation intact.

They are regulated, and they have an obligation to inform people about the status of the exchange, whether it's true that it's been hacked or not. However, since they haven't issued an official statement about the hack, there's a possibility that no hack has occurred. I'm not aware of any users who have complained about a loss of their balance, but AFAIK, there haven't been any complaints. Perhaps some users haven't seen the news or heard the rumors that may be affecting their operations, which is why they might not be taking it seriously.

---

I prefer not to draw any conclusions, as the exchange itself hasn't confirmed that a hack has indeed occurred. Besides the article we previously read, there are no other reliable sources that can confirm the incident, and it's possible that coins.ph is attempting to keep this matter hidden. Until they issue an official announcement, I'm skeptical that it has happened. However, it is concerning that they haven't provided sufficient reassurance to their community to prevent people from panicking.

---

They have responded, but the reply wasn't entirely satisfying, as it seemed like an automated message assuring the safety of funds. Therefore, it's a matter of personal choice whether to trust their response or engage in speculation. Ultimately, it's up to us how we approach this matter.

It's possible... "IF"

If Bitcoin takes over and becomes the new global currency, with real-world use expanding, and its limited supply, you can bet the price is gonna shoot up. But $1 for 1 Satoshi? That's like a best-case scenario, and it won't happen overnight, that's for sure.

There are some discussions about that in the forum in and reddit, you might wanna check.

Can 1 satoshi be worth $1 in the future?
Do y’all ever think that one Satoshi (0.00000001 bitcoin) will eventually equal $1.00?

He's a billionaire, so I'm pretty sure that ticket he shared hasn't been edited, LOL.

Honestly, I don't see why this news is such a big deal. Any billionaire could throw around huge sums of money on bets, and we shouldn't be too shocked by that. They're on a whole different level from us regular people. Maybe one day, if we become billionaires, we'll do the same and consider ourselves celebrities in the gambling world.

I'm curious if this guy who won his bet would also share a losing bet. I mean, Drake lost a hefty chunk of change when he bet on Paul to KO his opponent, and the whole world knew about it. So what's the deal here?

The formula is pretty simple, especially if you're looking at long-term investment. With the upcoming bull run, the best strategy is consistent investing. Whether it's on a weekly or monthly basis, put in what you can afford to lose from your real-life income into Bitcoin. We can't predict the exact price when we hit a new all-time high, but we might be looking at a potential 10x return on your investment. So, stay optimistic and don't get discouraged if you're starting with a small amount. The price of Bitcoin doesn't have any limits. Some even make super bullish predictions, like Bitcoin reaching $1 million each or $1 per Satoshi in the future. It's definitely possible, so get started now and stop asking too many questions.

This is pretty confusing. How on earth can they say the loss is manageable when they haven't even confirmed if a hack happened? Saying that almost makes it sound like a hack did go down, and they're just keeping it under wraps for some reason.


It's a simple fix for this potential issue - just be straight with the folks, tell the truth. If there hasn't been a hack, they should put out a public statement to clear up all this FUD.

Sure, Everyone can invest on Bitcoin but Bitcoin is not for everyone. Not everyone gets what Bitcoin is and has the financial capacity to dive into it. The golden rule of investing is to only risk what you can afford to lose, and sadly, not everyone's living the high life. In places where poverty's a big issue, folks often prioritize putting food on the table over investments, so they're kinda out of the game for now. But let's not forget, countries can turn the tide on their economies, so the door's not closed forever.

There are also people who've got the money to invest but haven't quite wrapped their heads around the whole crypto scene, so it's not their thing either, at least for the moment. What really matters is that the opportunity's out there, and it's just a matter of time for some folks.

I was referring to the news from the local TV stations, and that's why I specifically mentioned the station names. These three stations are among the biggest in the Philippines, and the absence of any reports about this incident is quite surprising, especially considering that coins.ph is the first and largest local exchange in the Philippines.

It's surprising that no reliable news outlets have reported on this incident yet, despite it happening yesterday. The amount lost is quite substantial, and one would expect it to be covered by popular TV stations like ABS-CBN, TV5, and GMA. However, there's been no news from these sources. I even tried searching on YouTube and couldn't find any reports from those channels. It's very likely that this is just FUD, a tactic to spread panic now that the market is in bullish mode.

It's true that mixers aren't designed for money laundering, but due to their potential for obfuscating transactions, people often assume they are used for that purpose. I wonder how many mixers have been shut down or had funds seized by the government. Unfortunately, these actions can tarnish the reputation of the entire industry, if we can even call it that.

However, those who have a good understanding of Bitcoin know that it's not completely anonymous anymore. Once the source address is known, it becomes easier to trace transactions associated with a specific account. There are individuals who highly value their privacy, especially if they hold a substantial balance in their wallet. They don't want their funds to be easily traceable. That's where mixers come into play, offering a way to enhance privacy. Still, it's important to note that mixers can't prevent malicious actors from using them, as mixers don't typically investigate the source of funds.

In my quest to understand more about mixers, I did some research, and here's what I found.

https://www.coindesk.com/learn/are-crypto-mixers-legal/

The way I understand it, they want mixers to comply with specific requirements before they can be considered legal. However, are there any mixers currently in operation that are legal?