I prefer money, strongly. When you gamble with money, you are *risking* money for a chance to win money. It is always a losing proposition. But it’s not the same as *spending* the money. If I walk into a casino with a $50 bankroll, and I walk out of the casino an hour later with $40, then I’ve had a good night. Cause losing the the money will be okay for you but on the process that you won as will you'll enjoyed more than coins, you won't have to trade anything at the moment.
But gambling with coins will involves of spending more money on the play coins. Which have no value or gain at the moment (if they have value, they wouldn't be play coins, they do just be different kind of currency) So, you’re paying for the privilege of risking something of no value in the hopes of winning something of no value. That doesn’t even count as gambling anymore; that’s paying a fee for the privilege of keeping score on a random number generator. What's your own opinion towards this?
Let me give you some negatives of Fiat casinos, I just start with the bankroll you mentioned $50 which maybe a big amount of money for you but for most of the players it's not even an amount consider that they tip which may gives you an uncomfortable feeling when you're not going with huge feeling, definitely it will make me uncomfortable. And it's your priorities though, if you feel the experience of casinos and people you can meet is what makes you think that's worth spending your money then it has no alternative and it can't be replicated in internet world. |
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I’m not sure if this story was already shared here but I just recently watch this gambler sad story from social media that is really heartbreaking.
The subject is Terrance Watanabe which is a successful businessman who has a huge business and money that becomes addicted on gambling. He lose a total of 127M which is all his fortune that he earn from his business. Imagine all your hardworking was turn out to nothing after a few years of gambling addiction.
The sad part here was he became a victim of casino scheme of alluring user with their offers and allowing him to play while drunk until he loss everything.
He manage to wager a whooping 825M $ in just a single year when he lose that 127M.
It's mainly happened due to the addiction but there are other factors here that reduced his decision-making ability which is getting drunk while he should be crisp and clear so he could also be an alcoholic telling this from my experience. Indeed 127M dollars is huge money which won't even be possible if most of the people work their asses of their entire lifetime. I just wonder how come someone successful in his career busted everything off in that way which means he took this gambling as an escaping way that he struggled in his personal life. Moral of this story: Don't gamble when you're emotionally weak and drunk. |
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We as Individuals always thrive to achieve financial independence in our lives especially someone who is from the average middle person but what the government expects from the middle class is different and is kind of surprising when we give deep thought about it, The Government highly relies on the middle-class tax payers for the money and most of the taxes collected in the form of indirect taxes so that people may not actually aware that they are paying taxes for everything from their salary, fuel, medicine, anything everything has taxes that eat most our earnings.
The problem with taxes in most cases is not that they are collected, but rather the misuse of taxes (spending for other purposes). Regarding taxes on cryptocurrencies. Doesn't the following seem strange to you? Governments want to tax profits from the sale of cryptocurrencies. Ok. The investor takes the risk, but shares the profit with the government. But why then does the government not compensate for losses from investing in cryptocurrencies (not all investments are profitable)? If they encroach on part of the profits, then, in fairness, they bear part of the risks.  Otherwise, why would we pay them taxes? I would like to start my reply with a question, whether the collected tax money is spent in any ways at all? Cuase most of them are going into the pockets or under the table of authorities. The modern-day taxation system is made after inspired by Leech (a parasite that sucks blood) I guess, they will suck from us as much as we have left to give and when we don't have anything then they don't care at all but for the sake of stunt, they have capital loss carryforward system which depends on the country where we live in.
I want to reply to many others too but don't have that much patience to write like JJG since this is kind of wide topic that should be covered with long and clear explanations. |
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First, Let's answer the topic's title question: How to be more visible in the forum as a beginner?
You don't need to do anything extra, if you are contributing to the forum in any way the efforts will be noticed by others so no need for any extra controversial bullshit ideas just like what OP is trying to teach us.
Newbies can create thread wherever they want, all they need to find their niche which can be related to technical knowledge of bitcoin from the beginning or economics because they are interested in learning more about the finance and how economics works all around the world and so on.
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It just became my habit that being responsible when it comes to money, happened due to hard lessons in life and the consequences made me to be a person who I am at the moment. That I brought with me in the gambling too (not gamble too often though) so that I am trying to get the experience while spending less money as much. I also may be out of control but still it's in the manageable level due to the precautions like not having huge bankroll in the casino accounts.
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If you let your habit to slide on it's own then it's addiction and that's applies to someone who consider it as gambling, it's always important to be aware of your status or it's going to be cat and mouse game. Here the factor of greed led to be in this situation and mostly that's the case with gambling, we can't do anything other than taking it as lesson and hope will not be in the similar scenario.
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Which secure BTC Wallet do you recommend for me to hold? Depends on how much you are decided to keep in that wallet, based on the previous portfolio value you are holding thousands of dollars worth of crypto which definitely needs the ultimate security available, as others said hardware wallet is an option but since you already had bitter experience then I suggest try cold storage, install the electrum wallet on a completely air-gapped device. Cold Storage on ElectrumDownload the latest version of Electrum from https://electrum.org/#download and then verify the signatures before installing it. [GUIDE] How to Safely Download and Verify ElectrumThen copy the downloaded file to your air-gapped device and install it, then restore your wallet with your seeds "Standard Wallet -> I already have a seed". Then go to "Wallet -> Info" and get your "Master Public Key" After this go to your device which is connected to the internet create the "watch-only" wallet (Standard Wallet -> "Use a Master Key) By this method device will be never connected to the internet so you no need to worry about your seeds being exposed to malware or anything. I heard about 25th words of 100 characters and multi sign. It's passphrase, a custom seedword to create an entirely different set of private keys and addresses. I thought about Tails live USB which has electrum in wallet.
It is good though but still cold storage is the better of all. |
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Keeping the track of what your performance doesn't necessarily mean that the person is addicted and in my opinion it is better to know what you are doing than being a complete rogue and didn't know what you are doing.
When I was keeping the record of my gambling activities, I was kind of addicted during the time, unlike now that I do not keep any record because the money I am using to gamble is very small. I could remember that time also that I will make predictions of how I will make money from gambling and have it also in records, but I will lose again to gambling. Gambling is not worth something someone should keep records of. Anyone that is keeping record of it is somehow addicted. Then I guess it's all about our self-discipline when it comes to gambling. Not everyone is built same so people may behave differ for something in particular, to me it doesn't make any such addiction but gave me clarity and it's not just applicable to my gambling activities but almost anything I do kind of preplanned so there is a better chance of achieving what I am trying to. |
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I have hold crypto on my nano s ledger since 2017. I have not validated a transaction since 2019 and I noticed a few days ago that my seed ledger was emptied. It looks the funds were moved in the year 2022 and now we are in 2024 that mean's it's gone buddy. I followed the ETH on etherscan and it happened on an unknown wallet then it was transferred to Binance immediately. I contacted Binance and they told me the account is under surveillance but it won't let me communicate with the person. They told me to lose complaint too.
If we are talking about something that happened recently like a day or two but two years means it's long gone and these steps don't make any difference. But I wonder why the user who got access to your wallet waited so long to drain the wallet. Because you said you didn't access it since 2019 while the wallet drain happened in 2022. |
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The government keeps banging on about money laundering and crime, but I don't believe those are the issues. The real issue seems to be the fact that Bitcoin frees people from the fiat crime(s). I believe that if we were able to register our wallets, together with the public keys associated with them, but we kept the private keys secret, then most of the declared objections would no longer be relevant.
It doesn't solve anything to be honest, we are just giving more data about ourselves to the government if we do that. We know bitcoin addresses can be created an unlimited number of times and it doesn't even require much knowledge to do that so on what government can we make them believe we showed/registered every address of our crypto assets? For the fact, the government is not really trying to solve or stop this money laundering they simply don't want the people to have complete over their money and they just use this as an excuse to attack the decentralization on step by step and we may see someday that government will say we should boycott crypto because it's used for money laundering but they never said when fiat used for the same purpose and they will never do it either. Which proves what's their intention with these crackdowns. |
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------->-snip-<-------
Use your signature space to include this to your posts instead of posting it at the bottom of each of your topics. To get there, click " PROFILE->Forum Profile Information". Newbies don't have signature space if I am not wrong, it is only available from Jr. Members or above. Sorry for the off-topic.  |
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I'm not sure if Theymos would do one for a low-ranked member or not. All of the name changes I've seen have been done for higher-ranked members, and I assume the reasoning behind that is that if Theymos started granting such changes to Jr. Members, newbies, or even Members, his inbox would be absolutely flooded with requests.
Well, he actually did change the user name for a newbie! Can I pleaaaseeee change my name for the user MichaelHowell into mxfwzzwizqbzIf it's due to exposure of something that is a concerning factor of someone's privacy then theymos will likely consider it for sure irrespective of rank. |
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There is a thread about a guy who created a thread about his bet and will make it his journal for betting Hi everyone, I am going to attempt to turn 0.05 BTC into 1.7 BTC with football/soccer betting. I will be using this post as a journal for my bets.
I want to ask: Are Using A Journal or Spreadsheets Will Fave The Way For Addiction To Gambling? My reasoning is that by creating a spreadsheet or a journal, you are taking gambling seriously and looking for ways and a means to win in sports betting or luck-based games. Does anyone here have their own journal or spreadsheets, and are you taking gambling seriously? Keeping the track of what your performance doesn't necessarily mean that the person is addicted and in my opinion it is better to know what you are doing than being a complete rogue and didn't know what you are doing. I will definitely not recommend anyone to do such challenges like turning $100 into $100o or whatever but if they manages it to achieve somehow with good analytical skills of the particular game then all I can say is well done buddy, I ain't capable of doing that.  |
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Is it legal for casinos to keep the money?
Technically they are not allowed to use that money either but legality has lot of loopholes so they will just use the term money on hold which is just numbers on their platform while the funds deposited will be in circulation as long as they want until they are contacted by government authorities to return the held funds. |
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I have a question.
You say that atomic swaps with adaptor signatures are better than centralized BTC mixers. Then what's the point of using BTC mixers anymore?
All the criminals and crypto privacy maniacs should start using atomic swaps with adaptor signatures
BTC Mixers gives BTC<=>BTC Atomic swaps need coins from two different chains so let's say BTC+x <=> x+BTC The latter one is a little inconvenient compared to using centralized mixing services but if there is no mixers are in operation then people will look into the alternatives and this one is probably more difficult to trace since it involves coins from multiple chains and I believe that's the point of OP. |
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Findingnemo, looks like you are wrong guys, since casinos are registered in curacao then they follow their tax rules, so, lets take a look to those tax rules: There is no capital gains, dividend or inheritance tax in Curacao. This makes this jurisdiction extremely attractive for entrepreneurs who want to launch not only a crypto gambling project, but also engage in, for example, issuing tokens or exchanging and selling crypto. Regardless of the chosen crypto activity, you can avoid having to give most of your income to the government. Source: https://lawrange.net/en/services/crypto-license-registration-in-curacao/#:~:text=There%20is%20no%20capital%20gains,or%20exchanging%20and%20selling%20crypto. Well,. you're partially correct there is no taxes like we used to see in most countries but I read there is 2% corporate tax applies to the net profits which is really fair amount to be honest and casinos will be paying that amount to the regulators to keep the money flows in while paying little to nothing to the government. |
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Casino get cryptocurrencies and get profit from using it. They have to pay taxes from profit. BTC can`t be used everywhere as a paying method. So it can`t be equal to the local currency. If it would be possible to pay with BTC everywhere - it would be possible to use it in some way like local currency and it can be possible to tax service to work with it.
Of course it is not a decision but it is the way how to adapt BTC to legalization.
How do you know they pay taxes from it? That's a tricky point of view because where does the profit come from? if you think about it part of the profit is from gambling, but the market price bump represents profit for the casino too, a good example is how the bitcoin price was at $16k on Jan 22, and right now is $64k, with that market change the casinos multiply their bankroll x4, so, if they have to pay taxes I'm not sure how would that work. As long as they're registered they are liable to pay taxes, the amount can be whatever the audit shows which can be the right amount or something they just want to show they're paying taxes and it's not just casinos almost every corporate finds way to pay lesser taxes. I am not an auditor so can't be sure how they keep track especially with the volatility of cryptos prices but they are supposed to do that as per the laws. |
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Fun, experience, and the event itself is something that we can take away from gambling, the points you mentioned also important but still it go on the secondary in my priority list which makes me away from any bad consequences that follow when you are into gambling. If I were to add some more then how about knowing everything about the game that you are betting, for example if it's poker there are lot of ways that you can increase your chances of winning.
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Exactly, it's none of our business no matter even if the person is your blood relative, of course we have the responsibility to guide them but in gambling, I don't think so, I may give a few tries if the person is really close to me and if they don't care then why should I care?
Yes, it's not our business to stop someone from gambling but we as loved ones can try our best to guide them about gambling responsibility. We should also guide them that gambling isn't for making money but a way to entertain ourselves, and we should never consider it as a way to earn so much money as that's not possible for everyone. If still they don't listen our words and ignore us by saying that we are not aware of it, or it allows them to earn money then we should stop saying anything else to such people. It's not worth it to spend your energy and stamina to guide whose who don't listen, and I believe we should try our best to distance ourselves from such people. First of all I don't actually believe that people are ignorant about making money by doing gambling but they still choose to do for some reasons that could be anything, getting addicted is extreme consequences but let's not get into that. Telling them about approaching bets is good but if I am saying stop then the person may start hating me even if I tried to good for them and I don't really want me to put into that situation. |
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What the hell is going on lately, there was a similar thread created yesterday as well about the same topic and one before a week or so, this makes me assume that these all are coming from someone who got neg or something like.
OP if you really want to learn anything then start reading instead of typing that will help you to grow your knowledge and you may wonder why I am saying this cause you can find a similar thread where the discussion is going on already, so you can give your opinion there instead of creating a new thread.
Lock thread, which you can find in the lower left corner of this thread's page.
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