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881  Economy / Gambling discussion / Re: Have you ever been a gambling addict? on: October 31, 2023, 07:38:01 AM
Is that true? I thought I had become a gambling addict because I spent all my savings. Yes, at that time I forgot myself and my emotions so I chased after losing in gambling. I thought I would be able to get my money back but the longer I gambled, the more money I lost.

At that time, I almost borrowed money from the bank so that I could continue gambling, but my close friend reminded me of the consequences if I lost money again because of gambling, my situation would be even worse. I didn't borrow from the bank and without money I stopped gambling for quite a long time.
You had a short gambling problem caused by chasing losses. You would have become addicted if you didn't stop gambling for a while. Chasing losses is one of the popular causes of gambling addiction. Spending your savings on gambling is absurd. Your savings should be used for investment or meeting needs and not for gambling.  I am glad you have a friend who advised you against getting loans to spend on gambling. Nobody is sure of the outcome of a stake so it is relatively a game of luck. Accessing loans to finance a business or take care of a need is okay but it should never be used for gambling. We have been told every time that we need to have a gambling plan and our allocation to gambling should be what we can afford to lose.
882  Economy / Gambling discussion / Re: Premier League Prediction Thread 2023/2024 on: October 31, 2023, 07:00:34 AM
In the next five Chelsea matches, I really do not think that Chelsea will be able to win. I am not going to be surprised if I see Chelsea losing all the five matches. I am talking about the five matches that they are going to play next. All the matches are going to be played against really good teams. Chelsea might have a chance to win against Brighton. But other than that, I do not know how they will manage to win against Manchester United, Manchester City, Newcastle United, and Tottenham. I don't think Chelsea is winning any of those four matches. They might get one point from a few of those matches. But that's about it. I don't expect Chelsea to do something incredible at all.
Chelsea lost the opportunity to at least get to the half of the table when they lost against an average-playing Brentford. After splashing about £400million on players in the last transfer window, the club is still finding it difficult to score goals. I don't think they have a bad defense or midfield but their main issue is the attack. The team will always dominate the games but fail to create chances to score. Imagine them having close to 69% ball possession in the Brentford game and having just two goals on target. The injury of Christopher Nkunku has really affected the plans of Mauricio Pochettino and it became worse because Jackson and Sterling are not reliable attackers. Jackson's performance was awful and Sterling was just quiet in the match against Brentford.

Comparing both teams, Manchester United is better than Chelsea. The club didn't spend as much as the Blues and they also have some ownership problems that is distracting the club.  In the first half of the game against City, the Red Devils were exceptional but Haaland's second-half goal destabilized the club and made them play like a championship side. From then, United was at the mercy of the visitors. Erik ten Hag is a good coach judging from his past performance in Ajax but he has failed to do the same in English. Maybe he still needs more time to get used to the league.
883  Economy / Economics / Re: Isn't Fiat the Real Ponzi on: October 31, 2023, 05:51:54 AM
I've seen many blog posts describing bitcoin as a ponzi scheme, but looking at the current inflation of fiat it now looks like a Ponzi. Don't know who is the beneficiary in this kind of fiat Ponzi. The earlier generation had enough to buy with few amounts that can't buy anything reasonable today. I also saw Elon in a tweet saying or calling fiat a Ponzi scheme. People suffer to get fiat and lose it on high food prices and products. In a Ponzi, everyone end up losing money, same with fiat. A good number of people around me complain of not being able to purchase product with a fair sum of money they feel is big.
The blogs that call bitcoin a ponzi scheme simply don't know the difference between bitcoin and altcoins. It is common to see different altcoins been presented to the public as a scheme to that brings instant and high returns on investment.

A Ponzi scheme is an investment that is built to deceive investors. My country's fiat currency could be said to be a legalized Ponzi scheme because politicians will always make promises of how they will make the currency stronger and more valuable. One politician in my country promised to make our local currency to be equal to the USD. Many people believed him and kept their investments in the local currency. Today the currency has lost almost half of its value and the money is gradually becoming worthless.
884  Bitcoin / Legal / Re: Mining In Iran on: October 31, 2023, 05:25:18 AM
At the same time, Iran is afraid of completely legalizing crypto activities for fear that this will be used to finance separatist groups on its borders, such as the Kurds. Therefore, Iran does not want to completely ban mining in order to benefit from its resources used later for bypassing western sanctions, and at the same time it does not want crypto to be used in activities hostile to it.
I identified an important situation from your explanation. Could it be that one of the reasons why Iran is making policies to regulate the activities of miners is to limit the use of Bitcoin by the Kurdish rebels? Stopping or limiting these transnational separatist groups from receiving funds from cryptocurrency will be very difficult because of the decentralized nature of the currency. These Kurdish rebels operate in different countries which include Syria, Turkey, and Iraq and it is suspected that they receive large funding from some regional powers.
885  Economy / Gambling discussion / Re: Tyson Fury vs Francis Ngannou Boxing October 28 on: October 30, 2023, 03:23:01 AM
It was really a surprise that Francis Ngannou is able to take Tyson Fury's heavy punches and is able to fight Tyson Fury toe to toe.  I have Ngannou winning on that fight and the best result for Fury is a draw.  This simply show how corrupt the boxing judging system is.  The result is very disappointing but of course boxers and audience have to accept it.

A rematch is really needed on this one and probably next time Ngannou will be declared the winner(if the fight comes into a decision). to make the need for another fight to milk more money to the viewers.
Except it there was a knockout it would be very difficult for the judges to give the fight to Francis Ngannou. It would have been a great distortion of recent boxing history for an unknown boxer to beat a heavyweight champion. I knew they would seek means to at least give Tyson Fury a draw. But making him the winner made the broad day robbery clearer and the entire boxing world is in great shock. Even Fury knew he didn't deserve the win because he was not bragging about the victory and he shawored praises on his opponent.

But I am motivated by the comments of the Cameroonian-French boxer. He said he was happy and going to come back better. This is the mentality of a future champion, putting the past behind and looking forward to a better future. Almost everyone is asking for a rematch and Ngannou said he is going back to work harder and that he would be ready for the fight at anything time.
886  Economy / Gambling discussion / Re: What according to you should be the age to retire from gambling ? on: October 30, 2023, 02:55:13 AM
Many believe that gambling is for young people online as they need thrill and and fun. But I think that even old people can enjoy gambling. There should be any age to retire from gambling at all. One can do this activity and leisure time and thus it does not affect retirement related activities also.
Gambling is a hobby and not a profession, therefore I don't think that there is a need to retire except if one finds it not exciting anymore or is unable to gamble due to certain conditions like sickness or old age. Retiring from your job will lead to a lot of loneliness and gambling could be an activity to keep one busy and active. Retirement activities could just include reading, visiting family and friends, and other leisure activities, which means there will be enough time to gamble. I know many old gamblers in my area and I don't think they are thinking of retiring but many of them prefer in-house gambling where they can sit down, chat with friends, and enjoy some music and drinks.
887  Other / Beginners & Help / Re: Bitcoin is magic internet money on: October 30, 2023, 02:43:15 AM
When I saw the word magical, I thought it op wants to relate Bitcoin to some kind of mystical practice that is backed by some spiritual power that we see in moves. But I assume that @BlockchainWizard called Bitcoin a magical internet money because it couldn't be touched but it could be transferred and used as a means of exchange. This is not magical anymore because even fiat can be transferred through the same means even through the blockchain in the form of CBDC.

There is another interesting thing about Bitcoin being magic internet money, collecting bitcoin is to ensure that you have power and freedom in transactions. Bitcoin is People's money, if one day we face a dictator who freezes all access to the fiat we have, then we will still have Bitcoin for transactions. we can buy using bitcoin. Dictator rulers can close all access to Fiat, but cannot prevent them from transacting with bitcoin.
This is what makes it more magical, it is invincible  Grin. It would be better to use words like innovative or exceptional than magical. Bitcoin is an extraordinary money that can serve as a solution to the many pitfalls of the traditional banking system.
888  Economy / Economics / Re: choose an option on: October 30, 2023, 01:42:24 AM
which would you prefer to receive?
a. $480,000 lottery win as payments spread over 96months(8 years) of $5k a month
b. $480,000 lottery win as payment lumpsum $480k
c. $480,000 of bitcoin at(~$24k/btc buy price recent months allocated to the donator) 20btc
d. $480,000 value house
e. $480,000 value business
f. $480,000 of gold at(~$1.8k/ounce buy price recent months allocated to the donator) 266ounce

pick one and explain your rationale..
if you pick bitcoin as first choice. also pick another and explain rationale of second choice
(im mainly looking to see people opinions/rationale on choices that are made about not option C and compared to C)
Option A will be my best choice. With $5,000 every month I could buy bitcoin using the dollar cost average. Option C is not my best choice because buying Bitcoin using lump sum at $24,000 is riskier than option A because the price of bitcoin cannot be predicted. Option A also gives more room for a better investment plan and reduces the risk of wasting money on luxury, losing all your funds to hacks or other uncertainties.
889  Bitcoin / Bitcoin Discussion / Re: Bitcoin is health and health is Bitcoin. on: October 30, 2023, 01:27:59 AM
Maintaining mental health is essential for a happy and fulfilling life taking care of health is essential for every human being. If the health is not good then the person will not be able to do any work and will create obstacles in investing. That's why you have to think about the safety of health and invest in bitcoin. If the health is good then the investment will be successful and family life will not be affected. Individuals who meet their daily needs will venture to invest in bitcoin there will be less risk and good profit from bitcoin investment.
Our most important investment should be in our health. Sometimes we spend so much time and resources on pursuing money and little time on our wellbeing. But we fail to understand that if we lose our health we have lost everything. There is a need to eat the right food, take the necessary rest, engage in constant exercise, and do regular medical checkups. Many successful business people have invested so much time in building great organizations but they didn't live to enjoy the fruit of their labor because they failed to take proper care of their health.

We are aware that bitcoin is a long-term investment which is why we need to take proper care of our health to enable us to live long to enjoy our profits. The Bitcoin space is also very dynamic so there is a need to always learn and relearn that is why we have to do everything possible to be in a good mental state at all times.
890  Bitcoin / Legal / Re: Mining In Iran on: October 29, 2023, 06:27:44 AM
That's an awful arrangement, is Iran not making a lot of money that they're trying their best at not just taxing bitcoin mining that they want a part of the mining themselves? If the government has the say in the part of the miners, that's bound to be full of corruption because the miners don't got a say of how they will get their part, that's like fishing on a lake and the park rangers will take your haul and they will decide what you get, is my comparison sort of correct regarding the mining regulation in Iran?
The articles the OP quoted are close to three years old and there were no links to any legal document. We might not know how valid the information is and also the current situation. But most website seems to agree that Iran is using Bitcoin to invade sanctions from the US and other countries.

Encouraging miners to sell their coins to the government is not a bad idea if they are not forced to do that and the price is competitive. Miners that want to hold coins should be given the freedom to keep them and the price the state is willing to buy should also be the same as in the international market. Failure to treat these miners fairly will make Iran unfriendly and force miners to move to other nations.
891  Economy / Gambling discussion / Re: Anti-Gambling Tools on: October 29, 2023, 04:26:02 AM
Would really appreciate any advice or recommendations from those who've been through something similar.
Many platforms only care about making money so they don't care about helping gamblers in controlling unhealthy habits. Expecting them to help you to solve your gambling issues is fruitless.

I'm curious if any of you have faced a similar situation and if there are tools or methods you've found effective in controlling crypto gambling. It feels like most platforms lack daily limits or deposit controls, making it a bit challenging to stay on track.

Would really appreciate any advice or recommendations from those who've been through something similar.
I have not suffered from gambling disorder but what has helped me to control my gambling activity is my budget. I have a plan that includes how much I will spend as well as how long I will put into gambling for a specific period. And I ensure that I do everything possible to follow the plan. You need a lot of self-discipline to strictly enforce the plan so the first character you should develop is self-control.
892  Economy / Gambling discussion / Re: Greed or risk on: October 29, 2023, 04:09:07 AM
I saw this image below on one of my friend's WhatsApp statuses earlier today. I don't know if the game was played by him or if it was an image saved from somewhere, but the image got me thinking, and we got into a debate because of that.
 
I was telling someone that if I'm the one to have such a slip and the game is already showing me to cash out such an amount of money, which is equal to $865 based on our local exchange rate, seeing such an amount as cash out available and leaving it will make me appear like someone who is too greedy, but the guy was telling me it's not being greedy but it's all about taking risks. The debate didn't end well, so I decided to bring this up here to see the responses from experienced gamblers.
 
Lucky for anyone who ever has that bet slip, it seems like the game played in his favour.
You cannot judge anyone's actions in gambling. Everyone has their views, budgets, and targets for bets. What you perceive as greed might be seen as a risk by another person. The people who cannot afford to lose such an amount will see it as greed, while many who can afford to lose it will see it as risk-taking. I know if he loses the game it will bring much regret but on the other hand, a win makes him a celebrated gambler. I don't think I will fail to cash out immediately if it gets to this sum because it is already a big win for me.
893  Economy / Economics / Re: Almost All Countries Affected by Inflation, Opportunity for Bitcoin! on: October 29, 2023, 03:46:11 AM
There are so many economic factors that contribute to the inflation rate of a country and the solutions are also multidimensional. Bitcoin can help individuals overcome the effects of inflation but for now, there is no evidence that it has led to the reduction of inflation in any country. It is possible that it can be one of the economic solutions to a country's inflation problems. I don't think that there is a strong correlation between gold reserves and inflation because there are some countries that didn't make the list of countries with the highest good reserves yet they have a relatively low inflation rate.
894  Bitcoin / Bitcoin Discussion / Re: Bitcoin Solves This - Money and Banking on: October 29, 2023, 03:27:42 AM
The most significant lesson I learned from my initial experience with holding Bitcoin is that hardly anyone ponders money and banking. Despite dedicating our entire lives to working for money and revolving our lives around it, the average person, if asked, typically lacks a clue about its intricate details or history. However as I began to read news on the internet about the problems in the monetary and banking system. I would mutter to myself, 'Bitcoin solves this".
We saw nothing wrong with the traditional banking system because there was no alternative. Everyone was comfortable with the fiat system until Bitcoin was created. Bitcoin has now exposed to the lapses of the current banking systems and the benefits of decentralization.
Quote
Here's my observation from personal experience of holding bitcoin:

  • Bitcoin, prompted me to explore concepts like blockchain technology, decentralization, and the flaws in traditional financial systems.
  • Holding Bitcoin made me to start learning about the technology, economic principles, and the fundamentals of currency and transactions.
  • Holding bitcoin lead me to research and explore the underlying principles of money, thereby increasing my level of financial knowledge.
  • Holding and understanding bitcoin have enabled me to be able to delve into discussions about the flaws and inefficiencies of conventional banking systems and the potential solutions proffered by them.

The Bitcoin system is a little bit complicated. You have to read about wallets, transactions, exchanges, blockchain, security, etc. And you have to be also familiar with government policies, institutional investors, and other trends in the industry. Before now the responsibility of understanding the financial system was delegated to banks but If you have to be your bank then you need to perform the functions of banks. Before now most of us only knew about depositing our money in banks and withdrawing it with no understanding of our privacy or how the bank benefits from our deposits. But this has changed because of Bitcoin.
895  Economy / Economics / Re: Btc vs dollars on: October 28, 2023, 09:51:16 AM
Presently, should we say it's good the way bitcoin its been tied to dollars? Dollars is not backed up with any resources but to my understanding, bitcoin is a product of great energy surge. We shouldn't let bitcoin tied to dollars but bitcoin standing on its own. What could decide the durability and value of bitcoin? I have some ideas..
The current world economy is highly dollarized. Almost all currencies in the world are tied to the dollar for them to be used in international trade. Although so many countries are trying to untie their currency from the dollar but it is very difficult because close to 70% of trade transaction is engaged with the dollar. Bitcoin value is usually estimated using the dollar because most goods and services are priced and traded in United States dollars. This situation doesn't mean that Bitcoin is tied to the dollar. Another problem is that bitcoin is still a new currency and is not popular in many countries. Many people might not understand the units or value of bitcoin except is associated with the dollar. But I assume that as Bitcoin becomes popular, it is likely that it can become dedollarised.
896  Economy / Gambling discussion / Re: Premier League Prediction Thread 2023/2024 on: October 28, 2023, 08:48:01 AM
Chelsea will host Brentford in this week's match, after last week they successfully held Arsenal to a draw this week they get an opponent who is not stronger than their previous opponent. Supposedly with facts like that they should be able to win this match, but football doesn't work that way. Especially at this time Chelsea is still fighting with their internal problems, especially in the problem of the up and down performance they show from almost every match they do.
Brentford are not better than them, but keep in mind, this club is one of those clubs that can surprise.
Chelsea have shown some improvement in their recent games but they have not shown the determination to compete for the top four position. This is because they lost a two-goal advantage and picked just one point against Arsenal and their other past games have not been encouraging. Today's game is another chance for them to show that they have indeed put aside their past woes. Brentford looks like a cheap team to beat considering Chelsea's class but we can't guarantee that the Blues will win this match considering their inconsistency. From my little experience in football, especially in the EPL, you cannot underestimate any club.
897  Economy / Gambling discussion / Re: How safe do you feel with casinos that ask you to input your log detail. on: October 28, 2023, 08:08:26 AM
This doesn't happen with me on stake,  but there is this new casino that a friend my mine introduced to me and to some extent I have used the xmxasino for up to 15 hours now and within this time,  I can't tell how many time I have to input my password just to resume the session,  and this is unlikely and unfamiliar with me since I have gambled on stake for over a years now I'm and I haven't experienced such before.,  Anyway,  I am not saying that I have proven that anything is wrong with that.

But then me in my personal terms I don't feel secure having to forget my password at a regular intervals.
Maybe this is a security measure by the new casino. It could be very stressful to keep logging in after a few minutes but it is worth it for security reasons. It will be helpful if you fail to log out after you are through with gambling. But you can also check the settings of the casino to check if you can extend the login time.

It cost you nothing if you are asked to log into your account with your username and password,  but some people are so stupid that they use the same password on their special accounts like social media and bank accounts, once the hackers get a hold of your password they wi start trying it out on other platforms.
.
You are correct mate. It is wrong for you to use the same password on more than one platform, it could be very risky. However, asking for login details frequently within a few minutes can be frustrating and time-wasting.
898  Bitcoin / Legal / Re: Taiwan lawmakers introduces digital asset bill for crypto regulation on: October 28, 2023, 07:22:27 AM
From this reading I see that the Taiwanese government's stance is moving towards leniency towards cryptocurrencies, and it is clear that they want to create an open business environment by not restricting professional investors from participating in trading.

The other measure, which is the most important in my opinion, I mean “separating business funds and customer
assets” comes to protect investors in general, especially inexperienced traders, from problems related to stock exchanges such as hacking, bankruptcy, etc.

It is good to see this type of regulation regulating exchanges, protecting users, and creating a positive atmosphere for crypto companies at the same time.
Taiwan is at the infant stage of cryptocurrency regulation and it is good that the country is setting up rules to protect customers from some dubious players in the industry. Giving exchanges or other crypto firms free hands to operate can have some undesirable consequences. However, the proposed laws seem flexible and will attract more investors to Taiwan. I am a supporter of Proof of Reserves for centralized platforms but the draft is silent on that which I find challenging. However, the draft law gives room for periodic audits and control of their accounts by the Financial Supervisory Commission (FSC).
899  Bitcoin / Bitcoin Discussion / Re: Whether Bitcoin ETFs are approved or not, we expect bullish trend on: October 28, 2023, 06:26:10 AM
Bitcoin bulls aren't dependent on Bitcoin spot ETFs in the US. So whether a Bitcoin spot ETF is approved in the US or not, the bull market will still arrive. Only those who are uninformed would believe that the price of Bitcoin will only grow bullish when Bitcoin spot ETFs are approved. They only have to be reminded that when the price of Bitcoin almost reached $70,000 in 2021, there was no hype around Bitcoin spot ETF and it was even reached when the world was still recovering from the COVID-19 pandemic.
Bitcoin's bull run depends majorly on halving and other favorable economic situation that happens at a particular time. Sadly the profitability of next year's bull run will largely depend on the approval of spot Bitcoin ETF by the SEC. It is clear that many investors are been controlled by the actions and inactions of the SEC. Historical Bitcoin prices will always readjust after the rise or fall caused by artificial influences like the ETF. It is true that with or without SEC's approval the bull run will still be experienced but approval will have a greater impact on the price. Let's say an approval will make the price increase more than it would have been if it was disapproved.
900  Economy / Gambling discussion / Re: Live Sports Betting vs virtual Games Betting on: October 26, 2023, 10:02:27 AM
I've been hearing a lot of debates about this recently, both online and in my local area, and it got me thinking. When it comes to sports betting, do you prefer the thrill of live sports events or the calculated nature of virtual games?

Personally, I've realized that I have a higher success rate with virtual games, but live sports events offer that adrenaline rush that's hard to beat. It's a common dilemma for many bettors. I usually love betting on virtual games giving me this sure vibe that my odds might play out. Live sports can be unpredictable, and if you don't place the right bets, you might go home empty-handed.

So, I'm throwing the question out to all of you. Which type of sports betting gets your heart racing and your wallets fattening up? Do you have a preference, and if so, why?


Gamblers will give you different reasons why they prefer the types of sports betting. I don't derive any fun from virtual betting. I prefer the thrilling and exciting experience that sport live sports bring. Most local betting houses in my locality usually show live games and many fans from different clubs come to to watch these matches. If you want to enjoy the best analysis and prediction, you need to be in the betting shop. I usually derive so much fun from these gatherings. Virtual betting will make you lose your money fast which could also lead to chasing losses. I prefer the slow and steady nature of live betting.
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