~snip~
Being anonymous is one of the best features of Bitcoin. There is no one to trust but the catch is holders can manipulate the price since they have a large amount of BTC. So, do we trust them? We don't know the answer and I think we just need to pretend that we trust them since we don't really who they are.
Bitcoin allows for pseudonymous transfer of money. It is not anonymous. Basically every transaction has a unique identifier. If you somehow link your real world identity with that unique identifier, then your real identity is linked with that transaction. For example, when you transfer from a centralized exchange into a wallet and then you send from that wallet to somewhere else using the same address, that's a clear link. |
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Such assertion in gambling is pretty much easier to say than done, considering how much of the excitement that comes with winning and just quitting after a potential winning, winning gives encouragement, more motivation along side with more inspirations where quitting after such potential winning might not easily be possible but however, is a good advice that worth considering in gambling exploration, and it will also aids in not over allocating your time, energy and resources in gambling in terms of not seeing gambling as a way of making money but just a fun play or entertainment, quitting is not easy but you may probably play even more when getting up to double of your gambling amount.
Yeah, casinos will try their hardest to keep you betting after you won with multiple sounds, lights, etc, to keep you hooked. They definitely don't want you to leave after you win. Notice how when you run out of credit the whole machine just stops the lights and noises. It's all a mechanism to keep you putting more and more money in. |
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~snip~
Casinos are without a doubt a very profitable business, which is why we see new ones appear every single month, but it is highly unlikely for success to be immediate, and instead it may take months or even a year for a casino to begin to generate profits, and during all that time the casino needs to survive with the money it gathered from its investors, so it is not easy to get to that point in which a casino is generating a huge amount of money to their owners.
It is indeed a tricky business, because there is a lot of regulations around it. But, if you manage to bring people in, and make sure no one hacks your casino, then it is a really lucrative business. Most governments will want to have a slice of the pie as well, so many fees are just part of doing business. |
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Well, you have really explained a lot about it and I think you’re right There are different class of gambling and different class of human. Yes, there is some people that is extremely rich if they scramble and lose money, it doesn’t affect them they can go to the other hand, and fix them self back Without any desk stop and some don’t even have at all after everything and they will notice they have gambled away a lot
The thing is that rich people can end up broke in the same amount of time that a poor person. They both have the same odds, and the rich person has the ability to spend more per gambling instance. So, if they have the same outcomes in every step, and the rich person has, say 100x more money than the poor person in the beginning, but bets 100x every step, then they both will lose all their money at the same time. The odds are the same for everyone. |
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Gambling is not really a place that you think you can make money easily but it’s also a place to make money but it doesn’t come as fast as you think it can only come when you plan and you are consistent in your game. Yes, it’s a place to make money and place to lose money, but let it be a positive for you and let it be a place that you definitely. Yes I admire the topic. You are absolutely right gambling is for the both if you understand the strategy very well
Gambling is clearly a place to make money as long as you are the person running the casino. The whole thing is designed so that the probabilities are against the gambler. The house always ends up winning in the end. There is some level of entertainment that is provided, but the price some gamblers are paying is clearly more than what any person would reasonably expect for the amount of entertainment. |
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~snip~
Topic will be updated with more information later, but I am interested to hear your opinion about this.
I don't really know too much about Roger Ver, but I watched a few videos he posted. He was basically living in a tiny island, St. Kitts and Nevis, where he is a citizen of. He mentioned in the video how great it was that they don't have to pay taxes there. No idea about the details, but it seemed to me that he was too focused on the tax part. Maybe he didn't pay taxes to US when he stopped being a citizen around 2014?, no idea. |
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Since bitcoin promotes mostly anti-government, banks, etc.
I am wondering; Do you trust bitcoin holders?
The beauty of Bitcoin is that you don't have to trust anyone, you can always verify. Bitcoin is independent of any single person, even Satoshi Nakamoto. Also, Bitcoin is money, it's not political. Bitcoin is for everyone. |
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I wouldn't have said this but I am much more concerned about the fact that we have been hearing so many people talking about holding Bitcoin for the long term and never selling. I find it so confusing that after investing so much in Bitcoin for years we won't want to sell our bitcoin till we die.
I've been buying Bitcoin since last year when it dipped in December i know it's not long. Since then I have held my bitcoin firmly regardless of the price increase this year I still decided to sit on it. Although I do not have enough Bitcoin because I have little money then if I were to sell my holdings now I would have 3 times of I invested.
Also, I have the belief that Bitcoin will keep breaking new ATH forever. Should I leave my Bitcoin forever without selling it or set a goal that I have in mind and when it reaches that goal I sell and take my profits?
What do you do?
On what principles guide your actions in the realm of Bitcoin (BTC)?
I think that this is a personal choice. Some people want to pass their wealth to the next generation. Others want to save with a good financial instrument such as Bitcoin and then sell it whenever they need money for something, like buying a house, etc. There is no general answer to this I think. |
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This thread needs to be closed, I don't even know if there's anything that's not yet discussed that's in this thread, pretty sure that what you can do when you're losing in gambling is not a lot of things, it will complicate your life and at the same time, you might not even arrived at a conclusion. Here's a simple thing that you can do when you're losing in gambling, stop worrying about it and move on, do the logical thing which is quitting while you still have some funds that you can spend on other things and while you still have some self-respect in you.
Yeah, the worst thing you can do is continue putting more and more money into it and end up with less and less money. It takes self control to stop, but it is clearly the best way to move forward. |
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Have you ever done something crazy to bet? No I never done something crazy to bet But my brother caught me play gambling hahhah and he looks me and say "You play gamble now" and I said I don't use real money and this just bonus round and he replied good luck hahha and that it and now he know that I play gamble and he only my family member that know that I play gamble
It is a slippery slope I have to say, because it is so similar to the drug addiction, as in "the first one if free". They want you to get addicted to winning, while actually losing most of the time, but they don't tell you that. It is an incredibly interesting industry that has roots in how the brain works, it is fascinating, and so lucrative for the people running the show. |
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~snip~
As far as I know, gambling definitely requires experience and being responsible and patient is most important. Also, the player must be 18+ age, otherwise he is definitely more likely to be attracted to gambling and may become addicted. Every casino platform we know has an age limit of 18+ which is very necessary because it is officially approved in every country, or the casino must be shut down. We know that nowadays many people are exposed to gambling at a young age, but I don't think that every casino allows children under 18 years of age. Of course, no matter how much experience a person has, he must be above 18 years of age to be allowed to gamble in casinos. As far as I know, every country has a certain gambling age set at 18+ of course same in my country, every casino has that. If a person is under 18 years of age and has gained a lot of experience with gambling, he can play responsibly if he does not become addicted.
I don't think you need to be patient with gambling, just responsible. You need to be patient with an investment like Bitcoin for example, but not gambling. The thing is that gambling is not an investment, and you are most probably end up losing money with gambling, so just be responsible, don't spend more than what you can afford to lose, and hopefully enjoy it. That's it. Anything you make would be a bonus. |
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~snip~
Well, I feel that anyone that develop gambling addiction habit and doesn't change, may not even become too wealthy unless by chance. It's possible that some rich people actually started gambling after they have started earning huge from other source, all of a sudden, someone just advised them to start gambling for fun which they took the advice and started gambling till date.
Yeah, so basically rich people have more buffer money to play around with gambling, but eventually all their money will be sucked up into the gambling black hole. That's just how the whole system is designed. Of course you can have a bit of fun while doing so, and having a tiny chance of making money, but if you gamble all your money, you will most probably end up poor, or worse. |
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~snip~
An employee has a lot of addiction if all of his hard work is devoted to gambling. It's not right, and it's not normal to look at it like that, for sure. Although it is their money and they are the only ones who have freedom with the money they have worked for, that's why they are not spending their hard-earned money wisely.
What if you are a middle-aged person and that happens? Your family will only starve, which can lead to the destruction of your family just because of the gambling addiction you have. So, gambling wisely with discipline and self-control is still really needed, so just have the right allocation when gambling.
Yeah, the thing is that gambling is basically a cost. Most people try to think of it as a source of money, but it is quite the opposite. As long as you keep your expenses in gambling in check, you will probably be alright. If you try to make extra money gambling, you will probably end up losing it all. |
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~snip~
Gamblers really need to learn to recognize the signals they are getting addicted, as at the beginning those signals will be subtle, but they will be eye-catching enough to be able to tell something is wrong as long as you give them enough attention, but if gamblers let their addiction to go on to reach the levels in which nothing but gambling is important to them, then the chances they can ever make a full recovery will not be good at all, and it is likely they will have to struggle with their desire to gamble for the rest of their life.
It is easy to say "gamblers" and not identify yourself as anyone that can be addicted to something. In reality, most people are addicted to something. Gambling, alcohol, social media, validation of others, etc. It is a difficult thing to realize that you are addicted, because many addictions are normalized in society. |
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~snip~
Yeah no matter what situation we gamble the money will go. But many people who have a lot of money don't mind losing and win and spend money on gambling to find entertainment. Self discipline and self control gives the knowledge of good self control and balance throughout life. Restrains extreme emotions and helps in moderation or moderation. Helps to remove one's helplessness and become self reliant helps clear mental and emotional depression.
At the end of the day you only need to know that the house always wins. That means that you will end up with less money if you bet. That's just what the probabilities say about it. |
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~snip~
Gamblers should remind themselves from time to time that gambling is unpredictable, and that losing money just comes with the territory, I say this because it is easy to have a few good sessions and those people may think they have finally cracked the code to become profitable forever, not realizing that they are just being lucky, so this belief may make them to bet more money than what they can afford, and that is when huge disastrous losses can happen.
Yeah, gambling is so unpredictable, you don't want to have a lot of money in that, but the thing is that the ads all around us tells us to gamble all our money away.... Many times I think that the government really is not here to protect us, which is what I naively thought it was doing. |
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You can use your entire salary to gamble and nobody is going to question you about it. You are have the right to make the right decision for yourself. There is no standard percentage for gamble from your salary, your responsibilities, things you spend your money on will determine how much money you should spend on gambling.
Yeah, it is so crazy that you can do that, but no one really cares, it is up to the government to check everything... Any problem gambler can continue gambling their money away |
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~snip~
yes, when a habit starts to get more importance then spending time with your loved ones, prioritizing your health or doing the things that being joy to life it starts to be a problem
having clarity and staying strong during hard times is a must
nobody is coming to save us after all
Well... yes.. that is the sad truth of gambling. Everyone is happy to get free drinks and food when someone is winning but the moment they are losing everyone leaves them. That is just how it works. People need to learn that, which is not a nice thing to learn. |
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~snip~
Your quite right about this but I think they should also reduce their advertisement to +18 too, you can't show something to a child and tell him not to touch it knowing how curious it would make him, so at same time I think the above 18 rule is just a way to save themselves from accusations that they allow underaged to gamble. To prove this how many casinos have a strict rule of taking some government issued id before allowing you to access them or use them, this only comes after or during withdrawal of funds.
I think ads are supposed to be seen only by 18+ people. Otherwise gambling becomes a thing that anyone can do in a way... It depends on the country of course, but this seems like a weird thing to just ignore... |
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~snip~
I'm agreeing with this. The moment to put in your bet or your capital in a position that you think of would win, you already lost that money. Because you already handed it out for risk. Unless you withdraw it as a win and reflecting in bank account then it's already true. What I mean is that you lose in this game in order to win. So how can you expect this as a primary source of income if you are also constantly losing your money. In gambling it is very random and much more like a game of luck. In fact 95% percent of the participants lose and only 5% wins.
Yes, basically, how I see it, the moment you place a bet, you basically are paying for a service. That service is the hope to win some money. It doesn't matter if you get it or not, you already paid for that service. In general, you will lose more than what you win. That's just how the game is. If you prefer to see it as entertainment, that's ok, but if you see it as an investment, you will have a bad time. |
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