I'm not sure about double profits either

However, I wouldn't be surprised in the least if Bitcoin rose to 15k in a matter of days or weeks if it ever comes to that. If it crashed from 9k to 4k in a matter of days, it won't take long to add another 5k to its current price. Moreover, the longer Bitcoin sits around 9k, the stronger will be the future price action, as has always been the case in the past. So buckle up and get ready for the coming roller-coaster

I couldn't afford to pay my electricity bill in college. Those were dark times

Главное, чтобы человек был хороший

Если человек хороший, то не важно трейдер он или нет, поскольку деньги в хороших руках всегда в итоге пойдут на благо обществу, прямо или косвенно. Сразу оговорюсь, что не рассматриваю случаи, когда определенный вид деятельности напрочь исключает эту возможность в принципе (например, наркоторговля и Пабло Эскобар). На мой пристальный взгляд, трейдинг не попадает под такую деятельность

This is likely the best course of action in almost any circumstances

You never know what's actually going on in a situation that you are a casual witness of. The point is, you may end up involved in the crime if you try to take justice into your own hands as had been the case with your example until you changed your stance. So if you call the cops and they do nothing, it is their problem from now on. If you don't, you may become complicit through negligence, i.e. not reporting

They can't arrest anyone

And thus they can't "hand over" anyone either. If they try to pull off that thing, they may end up a violator even if the fact of the collusion gets confirmed in the court. So, as long as we are talking about legal methods, all they can do is call the cops. And this is what happens when you call the cops in America

It is the effect that counts here

And this effect is present even when two fiat currencies are competing against each other that don't have any intrinsic value (other than transnational utility). You may argue that it is not Gresham's Law, and you would probably be right, technically speaking. However, if there is such a thing or phenomenon as "bad money driving good money out of circulation" (irrespective of the form of money, i.e. whether it is sea shells, hard currency, fiat, or whatever), we have to deal with it somehow and give it a name

And this basically leaves out the casino

Which was the entire point. To sum it up, they can't arrest, convict, or punish anyone on their own (other than by firing them). All a casino can do is report on an employee who they think colluded with the gamblers. Indeed, this is only applicable to legal establishments as your adventures in an illegal one can end with a very different outcome (pun intended), both as a player and as a dealer (if it comes to that)

And who is to decide on what constitutes a conviction and what not, criminal or otherwise?

Right, it is the task for a court of law in any conventional jurisdiction. So it may or may not be enough, but no matter the circumstances and evidence, neither the casino nor the police can convict anyone on their own (unless we are in some dystopian future where "I'm the law"). Technically, in many jurisdictions police can give you a warning without going to court if you admit an offence, or impose a fine on you, which you are entitled to challenge before a court of law by claiming, for example, you were forced to make and sign the statement (or just want to throw a Hail Mary)

The phrase poker face picks up a whole new meaning


Well, it is not just about 60-year-olds

People with chronic illnesses can fall prey to the virus as easily. Realistically, we don't know beforehand how any single individual is going to respond to the infection and whether he will pull through at all. 100 years ago the Spanish flu had been killing the healthy young people, which would be unfathomable if we didn't know that it was not the flu that was killing them (their own strong immune system had been the culprit)

You don't want to say that volatility will stay the same at 100k as it is now with prices below 10k, do you? Indeed, I don't mean absolute values (as in dollars) but relative terms (as in percentages). When the price rose to 20k, did it stay there? Nope, and far from that. Or did it stay above 15k for long, both on the way up and on the way down? Not in the least

But that's it, volatility as it is

I agree that Bitmex is a shady exchange

But all cryptocurrency exchanges are somewhat shady, even the regulated ones. So you can take advantage of the continual price manipulation going on there. Basically, it is possible due to insane leverage up to x100 on that exchange (as far as I know) as it is primarily aimed at squeezes, both long and short. Just don't be leveraged to the degree you can't withstand these squeezes, and still better get ready to ride them when they come

It actually proves my point

That many casinos are a law unto themselves. You wouldn't really be surprised to find out that a casino is oiling local police's palm, would you? I wouldn't, either. Anyway, you intuitively expect such things from these extremely shady operations. Legally speaking, it is the police who should do the investigations, and then a judge should order an arrest warrant. Indeed, there are different jurisdictions with different laws (as well as lack of any, while we are at it), but then we are back to square one, i.e. walk away from brick'n'mortar casinos and spare yourself a lot of trouble

And how's the "demand for Bitcoin to the saving side" is going to hurt fiat?

Moreover, the conclusions you arrive at should hold true even without Bitcoin. According to your assumptions and premises, any fiat currency should quickly collapse just because it is inflationary as inflation causes an increase in money velocity, the latter pushes inflation rates even higher, and the hyperinflation death spiral sets in. But it doesn't happen in real life unless the government goes nuts with printing money, and then it is just hyperinflation caused by excessive money printing that has little to do with changes in money velocity


Which is otherwise known as Gresham's Law. People will save Bitcoin and spend fiat, with bad money driving good money out of circulation under your hypothetical circumstances

Who established that, the casino?

If so, they don't even need an investigation into the matter, as in this case they can be the law unto themselves as well as the law enforcement agency. If we are talking about legal institutions, though, the fact of collusion can only be established in the court of law after the plaintiff reveals all of their evidence to that effect and the judge finds this evidence convincing and sufficient

That's your reply which makes sense only in a deflationary context:


Thereby, you are describing a situation which doesn't usually happen in inflationary circumstances. Since your post included a citation of my post which describes a different situation (specified earlier), it should be obvious that you failed to understand the correct context


So you agreed the wealth that simple people created during the discussed period of 20 years have been stolen from them. Now, you have to admit that without this rip-off real wages should have been outperforming inflation as per OP, and all in all should follow the increase in productivity


If you come to think of it this way, then you are free to leave as no one is forcing you to reply here or elsewhere (read, there's no need for crying out loud)

So you didn't even think that I was talking specifically about the inflationary environment, did you? Here's the part which set it straight and which you either intentionally or by neglect chose to omit:


Then, you just took some part of my post completely out of context, and then tried to challenge it in a different context, i.e. in the context that I specifically excluded from consideration (deflationary environment). Aside from that, I also said "in general" and even went to great lengths to emphasize that for those who don't read and don't care about the context. Obviously, it didn't help. But what could I actually hope for?

I don't really think it makes up a criminal offence

More likely, the casino could demand financial compensation according to civil law, and the dealer could do essentially the same if he thinks their claims are unfounded and unjustified. In other words, it is a dispute between two parties to be resolved in a civil court, and there is no crime which would entail criminal investigation, proceedings, etc, and inflict punishment on the dealer according to criminal law if proven guilty

There's a rumor about butter but I won't spread it

But what kind of reward do you expect?

There's already a few levels of rakeback for heavy gamblers. Why does no one other than myself talk about it? I think this is the kind of reward any reasonable gambler should hope for. If someone expects they should be given a financial reward (like 1000 dollars per every million wagered), it is too much, bordering on ridiculous. As another poster asked, what if you won from the casino, would you seriously expect something else added to your profits?

So you agree that top management had been stealing from simple people since 1970's and through 1980's? Good


That's because you don't read what I write

And thus can't understand the point I'm trying to make. Inflation contributes to higher employment (again, in general). Conversely, deflation (which preceded the Great Depression) and low inflation contribute to higher unemployment. This is a well-known tendency confirmed by numerous examples. So if employers are to raise wages, this is more likely to occur in an inflationary environment, and therefore the latter is actually not without its benefits and advantages for simple workers, in terms of both jobs and wages