Now that the Philippines has already established a cryptocurrency ATM, the next step would be the widespread of knowledge about cryptocurrencies to attract more people and potentially create new investors. Slowly, the country is heading towards the evolution of payment- which would benefit (like what you said) both the user and the country.

I wonder what would be the next move of other big banks (such as BDO, BPI, Metrobank, etc.) and if this affects their decision on accepting cryptocurrencies as well.


Interesting. This is to be expected as monopolizing and establishing the first cryptocurrency ATM would result to high transaction fees and prices. Well as far as I know, only (1) ATM has been established as of 2019. Give it some time to ripe and the fruit will bear once people know about cryptocurrencies.

Assuming that when you gamble using resources OTHER than fiat, you are gambling online, let me provide you a list on why most people prefer using cryptocurrencies/digital cash:

• 1. Gambling online provides convenience to the user as it eliminates the need to visit casinos;
• 2. Gambling online provides anonymity to the user if they preferred to be unknown;
• 3. You have the option to choose which resource you can gamble, thus making it versatile;
• 4. It is relatively safer to gamble on your home; and
• 5. It can actually help someone to control/limit their spending if they are gambling using cryptocurrencies (as they are scarce).

I hope this answers your question as I already summarized some of the reasons on why I think people gamble cryptocurrencies than fiat.

The blockchain technology will definitely be utilized in the future as it is the prime example of a revolutionary technology that would shape the next generation of payments and transaction.

Unlike our current transactions, we rely on third-party users for their trusts to keep our moneys safe or for the information that they claim to be true. When we apply the blockchain, it eliminates the need for any third-party users to handle our transactions since all history of payments would be reflected in a public ledger accessible to everyone. What is the relevance? All information about the history of its transactions can be seen and no one could ever tamper or change the information.

From this standpoint alone, the blockchain technology has unlimited potential for transactions and it we may expect it to be used in the far future.

Well this is the bitcoin forum that we are talking about and all sorts of people from different countries are active here. What do you expect? A little bit of gambling is what you consider having self-discipline and it may help the individual avoid losing tons of money. The house will always win depending IF you do not have any self-discipline and control over your addiction.


Wait, you said that a little bit of gambling is okay but you get yourself banned from a casino from losing your mind over. I really find it ironic as you contradict your statements.


The forum never embraced gambling and it never convinced people to do gambling as well. This forum is an avenue for business people to set-up their gambling business and it never convinced anyone to play as everything is subject to our free will and discretion.
Both gambling and drug usage stem from the same problem- which is ADDICTION. Search other posts and there are a ton of support posts and messages on how to overcome addiction.

Both trading and investing fall under the 'high-risk, high-reward' type of investment. They can be a double-edged sword to the investor but if they are willing to embrace the risk, expect them to cleave their way in towards profit. As you said, the higher the capital, the higher the returns and so on.
Trading is already a risk and to combine it with coins who are also at risk of falling, the chances of one garnering profit at the end of the day may be slim.



The advantage of having to invest in a small capital is you get to test the waters and the risks involve. Although every experience differs, it rewards you with the knowledge towards your next trading method. After all, proper research, knowledge, and experience are the key towards a successful trade.

This is actually the first step in introducing cryptocurrencies to third-world countries. The only barrier that separates first and third world countries in introducing cryptocurrencies are the opportunity and technology but this article make it possible that they may be start slowly learning about its components.


I doubt that they can skip the banking part as fiat is still an essential part of any country's resources. They cannot shift quickly from fiat to cryptocurrencies as the country needs to adapt and improve their technology. But this may be the first step into the ideal future of having a digitalized form of payment.


Any country has the potential for growth but Africa can be the ones who are affected with this kind of change. Introducing this type of technology can create and attract investors.

I think that it would be beneficial if the government would support bitcoin as an alternative payment platform. Assuming that they support it, an imposition of tax on every transaction may happen but it would provide benefits to the public through healthcare systems, etc.
The downside is, it defeats the purpose of having a decentralized form of payment which is free from any third-party regulation. In addition, bitcoin's volatility is what makes it attractive for investors as one can yield large amounts of profit in a short amount of time.


Inflation is in fact, a great thing but what makes it harmful is hyperinflation or deflation. Inflation is a tool to control the value of money. Some countries specifically target a percentage of inflation quarterly (i.e. 2-4% of inflation).

The danger of loot boxes stem from gambling combined with addicting gameplay from the game itself. Basically, there are two (2) components that are need to be addressed: first, addiction from the game PLUS addiction from gambling in loot boxes. With online games being famous, companies use this as a medium to introduce ways to entice gambling and the form is through loot boxes.

In-line with this, this may be a difficult problem to address but self-discipline and physical and mental awareness may be the first step in order fix this kind of addiction. Second, intervention from relatives may be considered especially when they get affected from your decisions. Lastly, shifting from playing video games to doing recreational activities can provide as an alternative.


The gambling that exists on video games come from the form of loot boxes, wherein there is a specific chance of getting an item that is worth a ton of $$$$. Of course in order to open those so called "loot boxes", one has to pay real money and gamble on the chances of getting so. As you can see, this is the birth of a new age of gambling where it has the potential of creating gambling addicts at that early stage.

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That my friend, is the endless cycle of gambling. Regardless of your winnings or losings, no matter what happens (if you fail to discipline yourself) you will always go back and try to win more OR recover your losses. The only way to stop this is by knowing WHEN TO STOP BETTING. If this helps, try adding a limit to your daily/weekly/monthly bets. Set a specific value that you are willing to lose and from there, play with your resources.

Bottomline, once you start experiencing a losing streak in gambling your mind will always tell you to RECOVER those losses. Move-on and accept that the only way to recover those losses is by STOPPING.


If this were the situation, I think the best way to help himself is by asking his loved ones or relatives for help. If they cannot help themselves then intervention of their families may at least convince the person to stop. The first step is always on the mind and deciding that you want to change for the better.

Having a cryptobanks defeat the purpose of having a decentralized system of payments/transactions as cryptocurrencies (like bitcoin) does not rely on third-party institutions. But we cannot deny that shifting to a digitalized form of payment may be the future if the whole-world will adopt to this kind of change. If that happens, expect the government to regulate and impose taxation.


The only way that I see cryptocurrencies as a way of payment is when its price stabilizes and becomes less-volatile. If the price continues to be volatile, it may brinng financial imbalance and harm to the country and may result to inflation. Not to mention, they need to address the issue of scarcity as bitcoin only has 21 million at the moment.

What created the stigma towards gambling is not the act itself, but the addiction that someone develops in a continuous basis. Anyone who is addicted to something would exercise the means of satisfying themselves with that hobby. They fail to see the negative effects of it especially to their surroundings since they get close-minded whenever they do it.
Gambling, or like any other hobby that is addicting, can be dangerous if one lacks the discipline to control it.


Unfortunately, addicts (in general) only care about themselves and the hobby that they do. They tend to ignore the people that they affect and they are also manipulative at some point.

This is actually true. I know someone who has like 50+ bitcoins and he cannot transfer his funds from the US to the Philippines since the bank questioned the origin of the said money. Every month, he can only convert and transfer around $3,000-$4,000 and he visits the US in order to clear his name and explain his situation.


Coming from the bank's perspective, anyone may claim that they received the money in cryptocurrency profit which makes it questionable due to its anonymity factor. Maybe this is the barrier that must be resolved in the future to prevent these things from happening.

Unfortunately, most investors who purchased bitcoins are also the ones who impulsively bought them without doing market research and observation. They based their decision primarily on the mainstream media and on how most websites ruin the reputation of cryptocurrencies in general. For that reason, they are the ones who first complain whenever prices go down and spread rumours of it being a bubble!

Smart and determined investors will go the extra mile to study the market and do research in order to know the chain of current events and market trends to smartly speculate about its fluctuations on the price.


Warren Buffet is used to the conventional methods of investing as he views cryptocurrencies as "an asset that creates nothing, rat poison, and a bubble." Ironically, Berkshire Hathaway invested into Fintech which totally invalidates his previous claims. Well one can speculate that maybe he is one of the whales that manipulates the price every now and then.

Jordan will always be remembered as the G.O.A.T despite arguments in-comparison with him and Lebron. Although the stats do not lie, the legacy that Jordan left will always linger from rising stars that aim to be just like him (or even better).


I feel like the re-acquisition of Bogut to their team may be due to Cousin's toxicity and attitude to the team. We cannot deny that he plays good but sometimes I see that the chemistry is off. The Warriors said in a statement that despite the strong start that Cousins played, the chemistry is not working yet. Hopefully in the future they resolve problem as they can be unstoppable at this point.

You deserve all the success for your patience, trust, and determination. I truly believe that it was really difficult to invest your resources into something foreign, unknown, and relatively new at that time. I'm assuming that you did your research before acting and all of which are compensated today.


It might be a clickbait to people who read your entire post and it also attracts spammers that only read your title.
Let me make a list of people who posted without reading your entire post:

1.

2.

So far only two (2) people have commented without reading your entire post )

Assuming with the same capital invested, panic-selling would deemed worse since you let your emotions take control over your initial goal. Although panic-selling and postponement from trading has a stigma from most investors, they may actually save your investments depending on the situation of an individual. If you think that the market would never recover from the price, then you can sell your investments due to your personal needs.
On the other hand, postponement from trading is like a firm decision that you made since you know that you want to stop due to not being profitable.


Panic selling can also be beneficial but it is too circumstantial and it really depends on the situation. If by studying the market you knew that the price will not recover from the time you purchased it, it may be the right choice. But I think that panic selling is the only one that gives you this sense of regret afterwards.

Due to its decentralized system, bitcoin cannot have a stable price and this will also defeat the purpose if it being as an investment mechanism. Investors prefer to acquire bitcoin (whether for short or long-term) due to its high volatility that can yield large amounts of income in a shorter amount of time compared to conventional investing. In addition, supply and demand play a significant role on the fluctuation of its price, primarily due to whales.


My colleague had the opportunity to interview one of the representing lawyers of our central bank (BSP) and they view bitcoin as something that cannot be accepted for legal tender. Although it can be converted to cash depending, the country has yet to implement rules regarding its validity and legality due to taxation.
Just to add, bitcoin can also be a store of value asset since it can be traded to various products/services.

It is not just about amalgamating countries into a shift to digital currency but they have to take into consideration the economic discrepancies between first and third world countries. First world countries are concerned into making their lives a easier by implementing/developing technology which makes everything convenient and fast while third world countries are focused into alleviating poverty, eradicating corruption, development of infrastructures, etc.

Although it may seem impossible, it can happen in the future once we slowly adapt to this kind of system. From that aspect alone, cryptocurrencies would be the main medium once this change would be implemented.


Computers, smartphones, and the internet were slowly adapted into countries that have access to them but we are talking about a whole-world scale of shifting to this kind of transaction. Some underdeveloped countries do not have access to such as poverty is their main problem. 100 years may be far-fetched but who really knows?

I know some people who invested on bitcoin back when its price was around ~$1,000 and all of them have their own houses built using the income they garnered overtime. These people deserve the success for their sheer trust, determination, and patience from the very start they invested (and at the same time lucky!).


It is possible for this situation to happen but not to this extent like what the couples experienced. Prices of bitcoin unexpectedly skyrocketed last year and that opened the opportunity for most long-term investors to cash-out their investments for maximum profit. Currently, many investors continue to hope that the price jump may happen again but I believe that it will but not to the same degree as what happened before.