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June 14, 2024, 03:50:01 PM *
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1  Bitcoin / Bitcoin Discussion / Re: Is China going to shift from Gold to crypto as ICBC considers ETH a digital oil? on: Today at 03:35:15 PM
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In a detailed analysis report, ICBC emphasized the rapid development and increasing diversity of digital currencies. The bank compared Bitcoin with gold, highlighting the former's advantages in terms of divisibility and portability. These features make Bitcoin a more practical asset for transactions and investments.

The bank has labeled Ethereum as 'Digital Oil', indicating its recognition of the growing importance and potential of this digital currency. This comparison suggests that Ethereum, like oil in the physical world, plays a crucial role in the digital economy.

the Industrial and Commercial Bank of China (ICBC), one of the biggest banks in China praises ETH as digital oil as they halt buying Gold. difficult to believe when you read news like this when the country is known for its strict rules. when they allowed Hong Kong to have BTC and ETH ETF, there were already speculations the country may soon be reversing its crypto ban.

with such news, is it a sign?  

https://www.fxstreet.com/cryptocurrencies/news/ethereum-breaches-key-support-receives-digital-oil-tag-from-worlds-largest-bank-202406111655


It's hard to belive China seeing their past stances on bitcoin. They have ditched bitcoin and mining quite a few times in the past.
This shows that they cannot be trusted again and they can ditch crypto whenever they want.
2  Economy / Gambling discussion / Re: Can someone take gambling as a source of income to he/she life? on: Today at 03:28:22 PM
The host will use various methods to limit the winnings or profits that the gambler will get, even though the rules seem unreasonable to the gambler, but what can you do, the host has the right to determine the rules on the gambling platform and we as gamblers must be able to accept and be willing don't want to have to agree with the rules that have been issued. It is absolutely true that basically losing money in a casino is experienced by more gamblers than those who manage to win or get lucky there.

No, gambling casinos should not bend the rules as per their likeliness. That is morally wrong and if any site is doing that then should make announcements about it on their handles professionally.
We should raise scam accusations against the site so that other people can be aware of such acts and they don't lose their money this way.
3  Economy / Gambling discussion / Re: Can someone take gambling as a source of income to he/she life? on: Today at 02:41:28 PM
The truth is gambling is not a reliable source for income generation, as anyone who wants to take such step is Suicidal Mission of which there is very little chance of survival. The fact that gambling gives a kind of room were people win, does not make it a medium for total dependence on it because winning is not guaranteed as it happens by chance.

Not only “not a reliable of source income” but rather it’s literally not a source of income because it’s a business that design to provide entertainment with it’s customers and not a financial wealth because they are business that gets profit through customers money so there’s no way they will allow players that continuously draining their bankroll.

This is the reason why there’s a lot of issue about account restrictions whenever a player is winning frequently or showing a successful gambling records. Casino ToS tell’s everything it since they have the right to restrict any player with their own discretion.

Yes ofcourse, even I have heard about such cases where gamblers have been limited to betting after they won a certain amount of money.
Gambling platforms have designed their sites in such a way that they are always in profits.
It's only the end users that have to lose money. Only a few lucky people make money in gambling but that's just pure luck.
4  Economy / Gambling / Re: More revelations on the challenges of physical casinos on: Today at 02:36:22 PM
I'm just really curious as to why someone would go through an agent when you can bet on your own. Is it because they would always have a cut or a percentage on it? I think it's just stupid to let somebody bet for you that you chose on your own.

It's because not every place as a proper casino. There are some stores which has betting/lottery options available.
So if you got to a store and pick a lottery ticket then you have to go through the agent/shopkeeper in some cases.
In other cases, you can buy a lottery ticket from the store but you can claim directly from the agency issuing the lottery tickets.
In this case that person went to the store and bet on 37 games.

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Quote from: mlink=topic=5493782.msg64204019#msg64204019 date=1718214671
Most of those challenges many of us are having were caused by us through the ways we have been gambling and how we show our careless attitude towards it, its not a matter of using a physical gambling platform or the online version that controls us from having the best of gambling experience, its mostly all about what we do and how we acted towards many of these things in gambling in which could have negative impact on us.

May be that is true but what happened with the person in OP was something that he could not have controlled at his end.
If the gambling agent cheated him then that is not his fault. Same thing with online casino sites, if you deposit your money on the site and if the site is a scam then is it your fault in it ?
I think you misunderstood the OP. The agent isn't willing to pay the actual winner, not until it is taken to court. It's not because the site is a scam but the agent who scammed the player.

I am aware of what I said. I even clearly mentioned in that if the gambling agent cheated him then that is not his fault.
Talking about the site is scam was just an example so that @mlink can understand that the same thing would have happened if it was not a physical store/casino but an online gambling site.
5  Economy / Gambling / Re: FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest on: Today at 02:19:08 PM
Hell, they should either kill the faucet altogether and leave everything else intact, or they should significantly increase the minimum withdrawal amount to something like 1 mBTC. Can't have transaction fees eating away the reserves at each withdrawal.

I don't know about the rest of you guys, but I've always known that bots were exploiting the faucet, and if a sophisticated faucet exploit across hundreds of accounts followed by a normal withdrawal is what caused the massive drain in reserves, then Freebitcoin needs to up their security before I can trust them with money again.

It's a shame because I used to advertise for this casino back in the day.
If they kill the faucet, then their domain freebitco will lose meaning. I think they should close their website and stick with one of their casinos, with Club Riches or Dplay and do a 301 redirect. Another option to my mind will be to set wagering requirement on coins that were claimed by Faucet. Increased Bitcoin reward with 10x wagering requirement or something similar will help their business to get rid of bots and it will also help them to give away fewer free bitcoins. This way, the faucet business will be profitable or at least will not harm them.

Increasing wagering requirement is a good idea. Another thing that they can do is increase the complexity of solving captcha before claiming the free roll.
They should add captcha for ever roll and remove the feature of no captcha above certain balance.
Using sophisticated captcha from google or any other service will eliminate the bots for good.
6  Economy / Gambling discussion / Re: How often do you receive bonus bets/free spins? on: June 13, 2024, 04:52:49 PM
There are few casino sites which gives free spins daily but winning big money from those free spins needs huge luck.
There are also sites which gives more rewards based on the amount we wager on the site.
It does add up to a decent amount and sometimes gets us back to betting when we are low on balance.
7  Economy / Gambling / Re: More revelations on the challenges of physical casinos on: June 13, 2024, 04:24:40 PM
Most of those challenges many of us are having were caused by us through the ways we have been gambling and how we show our careless attitude towards it, its not a matter of using a physical gambling platform or the online version that controls us from having the best of gambling experience, its mostly all about what we do and how we acted towards many of these things in gambling in which could have negative impact on us.

May be that is true but what happened with the person in OP was something that he could not have controlled at his end.
If the gambling agent cheated him then that is not his fault. Same thing with online casino sites, if you deposit your money on the site and if the site is a scam then is it your fault in it ?
8  Economy / Gambling / Re: Unreasonable Withdrawal Limits on Betiro on: June 13, 2024, 04:12:01 PM
Live support says they forgot to update the rules page and that they can't increase the withdrawal limits. I will try to withdraw 500 Euros every day. However, I believe the site's intention is to make me lose my balance and avoid paying out at all. I submitted a withdrawal request again today, but they still haven't processed the payment.

I registered here because I liked the platform. Yes, this is my mistake, and I regret it. But a 500 Euro withdrawal limit, like giving pocket money, is not acceptable in my opinion.

snip

This shows how unprofessional this site is. You can raise a scam accusation against this casino site so that everyone else is aware of it.
But there's pretty much nothing else you can do about it. Yes, you can file a case against them in the court but you know how lengthy and tiresome that process can be.
So the best choice for you to do would be to raise a scam accusation thread and just keep withdrawing the 500 Euros one by one on regular basis.
I would recommend you not to indulge in playing any games on the site as the site will be finding ways now to ban your account and freeze your funds.
Do not do anything that can lead you to getting your account banned.
9  Other / Beginners & Help / Re: My deep regret and pain in crypto. on: June 13, 2024, 03:45:31 PM
I think almost everyone would have felt the same feeling since almost everyone would have thought of investing in a shitcoin at some point of time.
Even I had bought some shitcoin few years ago thinking that it will grow huge and I will make huge profits but soon I got a reality check.
I have heard the same story from many people and so the feeling is mutual. Sooner or later everyone gets to know that bitcoin is the real deal.
Good that you have started accumulating bitcoin now which still has a lot of room to grow.
From the term shitcoin, I think that would draw a little hint already that you are investing in a coin with uncertain future, although all coins have really unpredictable future. But I guess if you are deeply convinced to invest on the coin, no one can stop you for that. Until you lose and realized that shitcoins have less chances to survive in the future.

Now, investing into bitcoin is probably your best decision. But let me remind you that bitcoin is a long term investment, so never assume that you will be profitable already in just a short time. Patience is a virtue, and that’s what’s actually needed in your bitcoin investment in order to achieve success and huge profits.

Yes, I had bought some coins which were not truly worth anything but seemed like they are just because of the hype everyone built around it.
But it was few years ago and soon I realized that it won't be worth it when the coin started dumping and I started making losses.
The mistake I did was not to do a proper research before throwing my money into the project.
At some point I guess most of us would have made such choices which we regret till date.
10  Other / Off-topic / Re: Is it possible to inherit a gambling debt? on: June 11, 2024, 05:23:35 PM
I have often heard about such incidents where the gambler or let's say the person in debt passes away and then their family had to repay the debt.
So yes, in many the debt is inherited by his family and in some cases I guess the debt becomes invalid since the person himself passes away.
But according to me people should not let the debt be passed on to their family at first place.
If someone is taking a debt they should make sure to clear it out ASAP and if not then they should have a back up plan in place in case of such mishaps so that their loved ones don't suffer.

However, the heirs will be obliged to pay off the debts left behind. whether the money is used for gambling or other purposes. heirs or family members cannot just claim or enjoy pleasure when they have money alone. but when a person dies but still leaves debts, then there is an obligation for family members or heirs to pay those debts.

but we don't know what the agreement is between the lender and the person who borrows. but in my opinion, the debt still has to be paid. even with requests for relief or other forms of negotiation.
Of course we have to see the proof and legality of the loan made. it could also be an opportunity for blackmail that could occur to the heirs. We also have to see whether the loan uses collateral or not. because it is related to the assets owned, of course it must be resolved properly.

Don't you think that's not fair ? What happens in case a gambler takes a loan and loses it and then dies ?
Why is his family obliged to pay the debt ? I know that if he would have won then he would have spent some portion of the money on his family but that doesn't mean he took their permission to take the risk to gamble.
Also, there might be a chance that the person who gave t him loan would have cheated the gambler's family and made them pay more than what was asked.
11  Economy / Gambling / Re: Unreasonable Withdrawal Limits on Betiro on: June 11, 2024, 04:45:23 PM
What's confusing here is that they have imposed a daily withdrawal limit of $500 when their monthly maximum withdrawal limit is $50000.
Even if someone is withdrawing daily with their maximum limit then they will just be able to reach $15500.
So why have they mentioned $50000 as the monthly maximum limit.
The only thing that makes sense here is if they have different daily maximum limit for different users.
12  Local / India / Re: Election results and impact on crypto policies in India on: June 11, 2024, 04:35:50 PM
They squeezed everything in the last 10 years and there's nothing to milk now, so their aim is to milk blood from middle class in Modi3.0 government.

Kind of mixed feeling after this announcement, they managed to convince the alliance parties to stay out of the power but some of their principles directly contradicts with BJP's Hindutuva so we have to wait and watch to find whether modi is capable of running coalition government cause this is the first time he is ever gonna do it since he came to power either it's in Gujarat now in central.

If I am not wrong then they have been milking money out of us since ages and it will keep happening.
They are just finding different ways to milk money from us. They should get tax from the rich too only then it will be fair and sqaure for us.
Right now the rich find different ways and loopholes to evade taxes. The government has left no choice for us other than to pay the taxes.
The only way for us left is to switch from the middle class to the rich one which is a big hurdle in itself.
13  Other / Beginners & Help / Re: My deep regret and pain in crypto. on: June 10, 2024, 05:01:08 PM
I think almost everyone would have felt the same feeling since almost everyone would have thought of investing in a shitcoin at some point of time.
Even I had bought some shitcoin few years ago thinking that it will grow huge and I will make huge profits but soon I got a reality check.
I have heard the same story from many people and so the feeling is mutual. Sooner or later everyone gets to know that bitcoin is the real deal.
Good that you have started accumulating bitcoin now which still has a lot of room to grow.
14  Local / India / Re: Every upcoming economy or stable economy is now launching BTC ETF! on: June 10, 2024, 04:45:19 PM
I would only say it is time for everyone to wait and watch. I doubt that this government will be able to complete its tenure of 5 years. There is one certainty about the ruling coalition is that the BJP will not be allowed to take important policy decision all by itself. Forget about Bitcoin ETF as India isn't that progressive as some of these countries. Although anyone from India can invest in Bitcoin spot ETF, a Google search can show the path.

Sure there are ways to invest in Bitcoin ETFs for an Indian. There are many brokers available who will give you access to the international markets. But I don't understand why would someone invest in an ETF when they can invest directly in BTC. People do not need any advanced knowledge to do so. There are exchanges like coinswitch which is very easy to understand and operate.

If you are wonderin why someone would buy a bitcoin ETF then let me tell you that it's majorly beneficial for the big players.
The insitutional investors and big companies would not want take the burden of regulatory policies and the hassle of securing the private keys.
The simple solution of buying a bitcoin ETF would be more beneficial to them and I don't think it's of any benefit for an average investor like you and me.
15  Local / India / Re: Election results and impact on crypto policies in India on: June 10, 2024, 04:41:18 PM
Top banks of the country shhh Tongue
 For now just wait for the ministers to swear in and assume their offices and see how the market reacts to those news.

This will be interesting! The existing IT minister has lost the election, who will be the new one? I am eager to find out whether TDP gets the FM or it will a BJP MP. I have read and heard in mainstream media that according to thier sources TDP has asked for FM. How much truth it holds cannot be verified as it from their sources.

Lol, sad to see your excitement ruining. Even I thought there would be a change in ministers but it seems that Modi wants to stick to the existing ones.
Either is too lazy to make a change or may be he already has a plan in place for the upcoming few years.
16  Other / Off-topic / Re: Is it possible to inherit a gambling debt? on: June 10, 2024, 04:23:30 PM
I have often heard about such incidents where the gambler or let's say the person in debt passes away and then their family had to repay the debt.
So yes, in many the debt is inherited by his family and in some cases I guess the debt becomes invalid since the person himself passes away.
But according to me people should not let the debt be passed on to their family at first place.
If someone is taking a debt they should make sure to clear it out ASAP and if not then they should have a back up plan in place in case of such mishaps so that their loved ones don't suffer.
17  Economy / Gambling discussion / Re: Religious leader barred from casinos because of big wins. on: June 09, 2024, 02:11:21 PM

Why bring religion to gambling at first place ? Let's just see it as a person who is winning money from gambling.

I believe because religion typically teaches that gambling is taboo or unethical to do due to greediness while the subject is a preacher of this teaching which show hypocrisy.

You are right. If it wasn't the prophet and just a normal person then it would have totally depended on the person whether to follow the religion and stop gambling or not but in this case since he's a prophet, it's ethically wrong for a person who teaches others not to gamble and gambles himself.

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I don't agree to ban the user directly from gambling but we can restrict a gambler who is always winning money.
After a certain win if the gambler keeps winning then casino owners can impose a restriction on him because that's how they can keep the business running.

Is there any difference between banning to restricting? Both of this action has same effect to gambler since they can’t use the casino anymore to gamble. I believe limiting is the right term if you are pertaining to decreasing the amount of bet which players can put on his bets.

You are right again. The term should be limiting the user from betting so as to reduce his betting amount so that he doesn't make enormous returns.
I am saying this because I have seen this being implemented on a casino site.
18  Economy / Gambling / Re: FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest on: June 09, 2024, 08:07:04 AM
From the look of things and my personal observation, I thjk it's clear enough to understand that possibly some of the teams, or previous teams rather, are no longer functional, and I am personally suspecting that they likely had some serious internal issues which they are hiding from the public.

Said this because, all of a sudden, TheQuin (which is one of the most recognized board member of freebitco) no longer comes to this forum, and even when he does, he stopped replying to freebitco user's concerns on this thread, so that says something.

Them being a well experienced player in this industry, they really shouldnt have allowed this issue get to this level before seeking out solution, but all the same, let cross our fingers and see what the future is freebitco will turn out to be, whether they Wil be able to restore their dying reputation or they will end up losing it completely.

What you are saying makes sense and things are more clear now. The recent incidents could have been handled very well but it just became worse day by day.
TheQuin not responding on this thread anymore shows us that things are off at freebitco.in.
Freebitco.in PR announcing that they are hiring customer associates confirms that TheQuin won't be responding on this thread any time soon.

I have suspected this for a long time, where Thequin, who is usually active in responding to this thread, suddenly became rarely active anymore, at that time I suspected that there was an internal problem that we might not know about, causing confusion here, plus their campaign on this forum. stopped, it looks a little strange, but I can't accuse anything because I'm not part of the team so accusing things that are not true will definitely not be justified forever, finally freebitcoin PR clarified a little about the problem.

Hopefully this site doesn't have any big problems, let alone going bankrupt, I think this site will continue to run without a team that is active on this forum and responds to all complaints from its users, even though freebitcoin PR said it needed a new team to replace Thequin's position on this forum, hopefully they found the right replacement and can be more active in solving every problem faced by all their users, especially users who are active on this forum, but so far I haven't had any problems on this site. I hope everything is fine.

Everything has an end and if so freebitco.in is going to end by being bankrupt then they should just close the faucet at good terms.
People losing money and facing issue with their withdrawals and other issues should be rectified before that.
It won't look good if such a good reputed site gets closed with users having to face such problems.
I am not saying that freebitco.in is going bankrupt but just in case the site is about to come to an end it should be on good terms.
19  Economy / Trading Discussion / Re: Wait for the right set-up on: June 08, 2024, 03:54:59 PM
People actually don't know how important it is to wait for the right set-up, some traders think that the more you trade the more money you make which is very much unlikely, trading doesn't work like that, you might make a lot of money from 5 to 7 trades, and use just only one trade to lose everything including your initial magin.

But waiting for the right set-up gives you an edge in the market, when you trade only when you sees an opportunity, you will mostly comes out profitable, as long as you knows the craft a little, but probing the market every now and then will only make you lose money, because trading is more of patience and knowledge.

Trading can sometimes be very tempting especially when you are making profits while trading but you have to control your urge and wait for your setups.
If you can't control your emotions and just dive in to pick every other trade then you will just be losing money.
I have done the same and lost quite a significant portion from my portfolio and so I have learnt my lesson and now I wait for the right setup to get an entry.
20  Bitcoin / Bitcoin Discussion / Re: Don't you think you should invest in Bitcoin instead of burning your money in fire on: June 08, 2024, 03:39:36 PM
The world is changing really fast. Nowadays school students starting from 9th-10th students to college level students are indulging in smoking to show themselves smart, nowadays it has increased a lot. When a student is addicted to smoking, he spends about one to one and a half dollars a day on buying cigarettes. A cost per month is $30 to $45, which if converted annually is $360 to $540. A student spends about $2,500-$3,700 on smoking over seven years. If we had saved this amount of money in any investment or for the future without spending it unnecessarily during our student life, then the path in life would have been very easy. The most difficult journey of a student's life begins in the years after graduation, when your savings or investments may come in handy.
If a student invests in coins like bitcoin without burning $2500-3700$ in his education life and also while he is busy establishing himself, this amount of money will power the way. Many may say that bitcoin risk has little guarantee of future profits but smoking guarantees that you will die very soon. I want to say that since I took the risk, why am I not in Bitcoin!
I have one regret because I have been through this cycle. I know and also know my community who is doing what how. I don't know if there are such members in this forum, but maybe there are many who have grown up or are in this cycle, to them I would like to tell them to quit smoking and start saving money and invest in Bitcoin and ensure a bright future.

School and college students are always high on energy and always excited to try out new things and hence they find smoking cool.
It's for such people to quit smoking and start investing that money but yeah the others who haven't started smoking yet can still invest their money in bitcoin.
I mean to say is, although this is a good idea that people should start investing what they can since it will accumulate to a huge amount later but sometimes thing are not that easy afterall.
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