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9701  Economy / Gambling discussion / Re: Gambling addiction. on: October 14, 2016, 01:51:50 PM
To explain a gambling addiction, we should firstly explain addiction itself. Addiction is a strong dependence from something, when with lack of this you cann't do anything and as quick as possible have to return to it. As we all know, there is addictions of two kinds: physical and psychological. Obvious that gambling has nothing to do with the former. As gambling often here means online gambling, there is no any dependence from physical representation of gambling - PC. And, for instance, if there had, it would be dependence from PC generally, not from gambling. So it has to do something with affects of gambler's consciousness. And we suggest that positive affects after wins in gambling, as they overshadow more frequent losses and its negative affects, are the main cause for psychological addiction from gambling.
9702  Economy / Gambling discussion / Re: Gambling should be considered as a Sickness!! on: October 14, 2016, 01:28:18 PM
I don't agree with that. To say that gambling is a sickness is something to say that alcohol is as well. Saying simple, we there are confusing the notions. To make it clearer we should use right word instead of wrongly used formulation of gambling as a sickness. Taken literally that's a mistake, taken figuratively that's a metonymy. Metonymy, as you all know, replaces a name of thing with another one, which is closely associated to the first. In this case literally we should say about a gambling addiction (as well as higher about alcoholism), figuratively we says about gamling in the place of gamling addiction.
Another metonymy of this kind is to say about a person, which has schizophrenia, that he/she is a sickness, not that mental disease. Accepted literally, it is a mistake. Hence, if a gamling addiction is a sickness and gamling itself is the same only figuratively (by a metonymy), then literally gambling should not be considered as a sickness.
9703  Economy / Gambling discussion / Re: Is their any safe methods to gamble? on: October 14, 2016, 01:02:27 PM
This is gambling there is not a safe methods to gamble
you have risk to lost your money, if there any safe methods to gamble, you can be rich from gambling.
The risk is always there whatever you do in gambling, just always remember that in gambling it always takes money to make money, seems like very easy to see it but in reality it is hard as hell because we are just getting fooled by the house advantage that we never recognize in evaluating our chances.
Yes, the risk always goes with gambling. But with one caveat that gambling is understood as betting real money. Quite obvious and clear that no one would gamble seriously for fun as one more likely wants money from it. Nevertheless, to gamble for fun is the only safe method in gambling, which though never makes you rich.
9704  Other / Off-topic / Re: Is earning BTC can be good in the future? on: October 14, 2016, 10:32:10 AM
I know many of us are holding some bitcoinsin our wallets and still waiting for more high price to exchage. But we cannot predict the price motion of BTC five to ten years from now. It may increase more to its highest possible price or may go back to its original price. Can saving BTC be good in the future to spend?
That is what I am afraid of. What if Bitcoin suddenly dies and becomes absolutely inexchangeable into cash? A lot of people will lose their savings. Crisis might come if in 10 years there will appear something totally new. Just like the internet appeared. Andthis something will ruin our current values. Hope that won't happen and Bitcoin will grow in price.
9705  Other / Off-topic / Re: Do you still have time to reach the 21 BTC goal? on: October 14, 2016, 10:24:39 AM
I am quite positive I will never get 21 BTC. In fact, I don't even try to have it. I don't buy BTC and don't gamble. All I want is to have about 15 000$ in BTC in 20 years to give them to my children when they grow up. I hope I'll be able to reach that goal. But I am scared a bit thet in 20 years BTC may be already dead or something like this and so my money will become nothing.
9706  Economy / Economics / Re: Is gold better than Bitcoin? on: October 14, 2016, 10:16:36 AM
I think Bitcoin has its advantages which make it better than gold. However, there is a problem here. People tend to trust something they can see and touch. What is bitcoin? In physical world it is just nothing. Numbers. We can't touch them. We can't smell them. Gold has been in this world for a very long time, so Bitcoin needs some time to be accepted as well.
9707  Bitcoin / Bitcoin Discussion / Re: advantages of bitcoin on: October 14, 2016, 10:12:29 AM
I think people mentioned a lot already but I'll give you my list:
1. Fast transactions. Some people say that Bitcoin's transactions are slow but I disagree. My trasactions usually take less than a minute.
2. Anonymity. Yes, you need to have a wallet and it is possible to see transactions of any wallet but still there is no direct connection between a wallet and an owner.
3. No taxes. I have heard that some countries want to create taxes connected to bitcoin but it is only about the future.
4. Mining. With what other currency can you get some money out of nowhere? Printing money is the prerogative of the National bank and using Bitcoin you can just buy a miner, find a pool and get some 'clear' bitcoins.
9708  Bitcoin / Bitcoin Discussion / Re: Bitcoin Bank??? on: October 14, 2016, 10:00:55 AM
I may be wrong but I think Bitcoin Crypto Bank is something OP was asking about. It is a privately owned company operating on the Bitcoin trade market. They have more than 60 000 clients from all over the world. https://bitcoincryptobank.com
As for different countries, bitcoin is considered to be illegal in most of them. Australia is among rare exceptions.
9709  Economy / Economics / Re: The dream of getting rich with bitcoins on: October 14, 2016, 08:14:48 AM
I don't have a dream of getting rich with bitcoins. However, I want some stable amount of money I can rely on. I have earned about 60$ in BTC but I will earn more, I guess. And I didn't lose any as far as I remember. It is not bad at all, isn't it? I wish OP luck in earning them. And if you are still not addicted to gambling - don't start playing to earn money! This is not an option.
9710  Bitcoin / Bitcoin Discussion / Re: [POLL] Do you prefer your money to be in cash or bitcoins? on: October 14, 2016, 08:10:26 AM
Well, I am not surprised that people on this forum prefer Bitcoin instead of cash but I prefer cash, of course. Even if I have money on a card I usually withdraw it, because it is not convenient for me not to know how much money is left and so on. In case of btc it is different. The problem here is that I can't use Bitcoin in normal life.
9711  Economy / Gambling discussion / Re: ALL IN!!?? on: October 12, 2016, 07:22:31 PM
Until and unless if my bet is 100% sure then I will go with All In method. Otherwise, I will not go with All In method. This is a very risky method, we have a chance to lose everything on a single bet. So we have to be very careful with this method. And I sometimes tried in sports betting, the result is mix with profit and loss.   
However, the issue is that you cann't have pure 100%. There is always a chance, that you can lose everything. Even if it is 99%, 99.9%, 99.99% and so on. Also the more you have chances for win, the less you win money. So there is more likely that gambler would put on 99% with All In, not on the bet that more closer to 100%. Hence it is more safely and reasonably to refrain from All In.
9712  Economy / Gambling discussion / Re: Does gambling worth playing? on: October 12, 2016, 07:07:18 PM
Gambling is worth when you do it with the money you can afford to lose.
Else if you lose what you don't want to, never gamble because it doesn't suit you.
Yes, the gambling is worth only if you can afford to lose. But play gambling only for just entertainment and your fun. Don't play this gambling to make money. If you choose to gamble to make money then it is not worth for you, It will spoil your life.
How gambling is worth to you if you can afford to lose? its still not worth it.. i dont think to other but for me its not worth it to gamble i just gamble for past time.. and for fun..
The problem here is in that we didn't separate the notions. Hence we have to mention that there is difference between 1) situation, when you can afford to lose money, but actually you more need them for something else and 2) situation, when you can afford to lose money and you can throw away any amounts of money. The latter situation is a bit idealistic, because everyone actually can spend money for something better that gambling. However, if person thinks that he/she has an unlimited amount of money, then gambling is worth playing. Nevertheless if person always can spend money for something better, he/she more should play gambling for fun or maybe just do something else.
9713  Bitcoin / Bitcoin Discussion / Re: Bitcoin IS basically DESTROYED on: October 12, 2016, 06:55:54 PM
Bitcoin is basically destroyed now with 70% of the mining controlled by China, soon to be 98+%, and with Blockstream implementing their SegWit soft fork Trojan Horse so as Matonis admits can end up increasing the 21 million coins limit.

The entire ecosystem is headed for a clusterfuck.

I honestly believe this is the truth.  What is there to add ?

~CfA~


UPDATE: https://bitcointalk.org/index.php?topic=1465136.msg14789764#msg14789764
I think it is impossible to mine all the bitcoins really fast. It is going to take 150 years as far as I remember. At that time there might be no China or it may end in crisis. So, bitcoin is not destroyed and everything is going to be fine. And even if China would mine the rest of bitcoins, so what? Why do you think that this is the end? People will just buy them for dollars and bitcoins will spread around the world.
9714  Economy / Speculation / Re: Bitcoins true potential on: October 12, 2016, 06:51:45 PM
I don't think that Bitcoin really depends on other currencies. Even if there was only Bitcoin and no other currency in the world (which is absolutely impossible) it could still work as money. People would use it in their everyday life and it will be totally okay till there comes time of crisis. A war, for example. And then people will return to barter and no money will be needed at all, because they won't need it.
9715  Bitcoin / Bitcoin Discussion / Re: Was bitcoin designed to be global? on: October 12, 2016, 06:44:13 PM
Given the fact that there are only 21M bitcoins, one could wonder if bitcoin was designed for a few selected or first few adopters and not to be a global currency in a world with +7 billions people.

What happens 40 years from now when most of the people on earth turn to using crypto currency? simply use alt coins when they see bitcoin already in hands of a few hundreds people and not wanting to be manipulated by them or even by 1m coins of satoshi?

Can't we have a second version of same code with same team and the same credibility developing it?

It sounds true that 21 million is not enough for billions of people. However, I think that is the reason why the price is going to increase enormously and people will actually use thousands of satoshi and 1 bitcoin will be something that only millionaires have. And of course I think that Bitcoin will not stay alone. Litecoin and other alt coins are going to join it.
9716  Other / Off-topic / Re: How many people here don't really care about BTC? on: October 12, 2016, 06:40:00 PM
It sounds sad to admit it but for me it is quite the same as OP says. Bitcoin is a source of money. Important source, of course. So in a way I do care about it. But what I need is money for which you can rent a flat, buy some food or tickets for a train. If something becomes more profitable than bitcoin - I will move to that currency. Sad but true. I don't know those who really care about bitcoin.
9717  Economy / Speculation / Re: Will price be at around $700 by end of october on: October 12, 2016, 06:36:34 PM
I think that it is very likely for us to see 700$ the next October. After a halving the price became about 500$ but now it grows quite fast, so if nothing unexpected happens then bitcoin will reach 700$. In fact, I think it will be closer to a 1000$. However, it is not that easy to predict the price. I think it can go down for some years, because mining won't be profitable.
9718  Other / Off-topic / Re: When is Bitcoins going to die? on: October 12, 2016, 06:32:28 PM
I think Bitcoin is not going to die. Yes, it is harder to mine Bitcoins as the time goes and the amount of them increases. Nevertheless, in my opinion, the price will increase as well with time, because people will start to realize that there is only a limited amount of bitcoin, so they better get some. So, my guess is that it will last for 50 years more at least and is likely to last even for 200.
9719  Economy / Gambling discussion / Re: Does experience matter in gambling? on: October 11, 2016, 07:56:35 PM
No, experience doesn't matter in such gamling as dice or roulette since it depends not on personal traits and skills of human, but on a chance. And in front of chance any experience or skills are not working. The latter more likely could be lucky fall within a chance in some cases. But actually it is not the law that experienced gamlber will always be winner. Absolutely no. In one cases chance can give, but actually it can easily take away that it gave.
9720  Economy / Gambling discussion / Re: Does martingale really works? on: October 11, 2016, 07:46:11 PM
Martingale works actually. But in a very stripped-down version.
It could work, if we had an unlimited amount of money. Then any losses would have it wins to compensate as well as opposite. So it would be eternally jumping from one extreme to the other and in a result it would be complete zero. And zero isn't nothing, it means total equality of extremes (on the middle between absolute loss and absolute win).
But in real life we have only limited amount of money. So any jumps between extremes will be finished in a result with one of the two extremes. The goal of gambler is to end with win, not loss or 'zero'. However, that understanding of martingale is perverted, as actually it should ideally always give the same amount of money as at the start. Hence, it works, but to 'zero', which is neither win nor loss.
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