As a trader, it's not good to rely solely on trading as your only source of income. Why? Depending solely on trading puts immense pressure on you to meet monthly bills. The consequence? You may find yourself taking unnecessary and low-quality trades.
However, when you have another or multiple other sources of income alongside trading, you can stay relaxed and have the mental comfort needed to make quality decisions. For example, you can be a trader and be a Bitcoin miner.
Something similar happens with Poker, it is better not to depend exclusively on it, especially when you start. In this is similar to trading, what happens is that there comes a time in some people's lives when they become so good and earn so much money that they decide to take the leap to become professionals. But for this you have to have your back covered, as to be able to withstand a year of losses, because the bad streaks exist, in addition to some passive income and other assets help to tranquility and make the right decisions. |
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I personally believe it will surpass that figure this year or by early 2025. If it doesn't get there this cycle, whether it's the end of 2025 or whenever, it's going to be a catastrophe for price expectations. But I see that as too unlikely.
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I guess when you're in constant danger of death, seeing that a few of your teammates are already dead or injured you look for anything to distract you. Also common is the use of drugs, anything they can get their hands on.
The banning thing, I don't know. I imagine that if they get out alive on top of having gambling debts it could be catastrophic. Post-traumatic stress and being bankrupt can leave them with serious psychiatric problems and some with the desire to commit suicide.
It is a complex problem.
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Ok, so FinHelmsman writes his first post on the forum and it screams plagiarism or sth. Top 10 Legitimate Cryptocurrency Trading Platforms Without KYC VerificationI've put it on hivemoderation: 99.9% likely to contain AI generated text. Sapling AI: 100% fake. As an aside, I haven't read it all but such a well-structured text and saying that Binance does not require KYC catches the eye. Lol. |
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It shouldn't. Preferential treatment makes the justice system a joke. Any non-celebrity would absolutely go to jail for breaking that many laws. It's a disgusting double standard if they treat him any differently.
The US still wants to portray itself as "leader of the free world", yet it's fully prepared to be this corrupt? Words can't condemn strongly enough.
Preferential treatment in matters of justice for high-ranking politicians exists in most democratic countries. Can't you think why? Where do you live? If it is a democratic country I bet it is more difficult to judge and convict high ranking politicians than the man in the street. Getting to the topic of the thread, I don't care as much about Trump's stance on Bitcoin now as I do about CBDCs. Bitcoin is already in our society to stay, and it will be regulated one way or another, but it will stay. CBDCs, on the other hand, are a serious threat and it would be very important for a country like the USA to announce that it is banning them. |
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Bitcoin is proven resilient in times of global economic crisis and inflation while stock market plummets since companies is the number one affected for recession period. Bitcoin is independent assets that doesn’t rely on the global economy/fiat.
Well, that's in theory and it happened more in the beginning. Nowadays it is more and more related to the financial markets and its behavior is directly related to the liquidity in the market. Also based on the Bitcoin price history. Bitcoin price is only moving upwards every cycle despite there’s a correction occur. So this kind of assets is the best asset to invest in dire situation since you have an assurance that it will come back again no matter how hard down due to the recession.
This also happens with shares. Look at what happened in 2020, as discussed above. Both Bitcoin and stocks fell, only to end up recovering and surpassing highs in a short time. The difference is that Bitcoin is more volatile. It falls harder but recovers faster and rises higher. |
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I think unless you're seriously engaged and trying to aim for professional level play in something like poker, the term bankroll is rather meaningless when it comes to other forms of gambling where skill is much more fluid. If you're sports betting then, believe it or not, the bookmakers are rather effective at pricing bets well over the long run and adjusting their calculations along the way. Bank roll seems to suggest that you have a long term trend of profitability, because it is designed around natural variance that you'll find in something like poker - where you might run bad for a few sessions or even weeks but having a deep bank roll will cover that scenario. There's no point claiming to have a bank roll in casino betting where the house has a built in advantage.
Well, I would say that for casino betting what the bankroll can do is make your money last longer in the long run, but obviously you're not going to be able to make a profit because of the HE. In sports betting and poker it is an essential component. No matter how good you are at the tables, or in sports betting, if you don't manage your bankroll well you'll go bust sooner or later. |
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Since you apply creativity to writing, you could consider what would happen if banks were banned, while you're at it. CEXs collaborate with the system and the political power, just like banks. The probability of them being banned, especially worldwide, as _act_ points out, is close to 0.
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it’s less about making the poor even poorer and nore about discouraging the public to ganble less.particularly in Nigeria where amidst the constant search to find incone streams people end up ganbling their whole life away, movements like this from the government are aimed at disrupting the status quo and making the whole shit turn in by itself basically. So yeah, I’m all up for this one. But they also have to introduce some way for Nigerians to really be able to reliably make money so they don’t have to end up gambling anymore.
I think you have not expressed yourself well and that is why I have crossed out the word that I think is unnecessary in your sentence, which is understood by the context. I doubt very much that the government has that kindly aim that you point out, rather what it wants is to collect and that's all. There is no end to the voracity of governments to steal from taxpayers in countless ways. Nigeria was better before when there was less taxes. This is another way to increase the tax and not that the Nigerian government are just introducing taxes in gambling.
If you win big, the Nigerian government will know and you must pay tax.
It is always better when there are fewer taxes. There has to be a minimum of them to provide basic services, but after that, it's all political spending. |
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Do you take record of every game played for the year or month or week, then calculate the number of total games that was won and lose. I feel calculating the total amount of lose can help one to adjust gambling habit of playing frequently and also to reduce the amount of money that is spent on gambling. I think when the amount of lose is too much in gambling it is either affecting one financially or turning one to become addictive to gambling.
Do you think keeping record of gambling activity will play a good role to someone's gambling lifestyle?
I don't actively do it because I already have a program that does it for me, Poker Tracker. But it seems to me that the average casino user is not going to do it because the way they bet is more emotional than rational. If someone were to use a similar program or use an Excel to keep track of total bets, wins and losses, they would see a clear tendency to lose money in the long run. The more you bet the more money you lose. So the logical conclusion would be to stop betting. But as I say, as successful as the gambling industry is, I think most gamblers don't even want to see that. They want to keep betting for the thrill of the game. |
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The problem with the terms that people use is that they cannot be changed by proposals, the use and change in the use of terms comes naturally and not because someone comes up with the idea. I had an idea for a term that I wanted to focus only on this forum some time ago, which was not well received, and this proposal, however logical and rational it may be, which is offered to the entire Bitcoin community, which is much broader than this forum, has little prospect of prospering. If I remember correctly, up until payments for some campaigns were made in mBTC I also never understood the concept, never really looked in to it properly as sats and BTC were always enough.
The same happened to me. |
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When a person sees statements that he needs to prevent gambling addiction (such as quarterly health routine checkups), then, if he is sane, he should be wary and it only means one thing, that the risks of contracting the gambling infection are very high. And he should be asking himself whether he should get involved in gambling at all if the likelihood of developing a gambling addiction is high and the likelihood of winning is low.
If therapy appears for some type of activity, then this is already an alarming signal as to whether it should be pursued.
Does that even make sense? I don't know what health controls you have, but in the ones I have, there is no such thing. I don't know how they could assess the risk of having gambling problems, unless they subject you to psychological tests or something like that People who need this type of therapy is because after gambling for a while they realize that they have self-control problems, or that they lose more than they should, but I don't know how that could be prevented by health controls. After all, most people who gamble don't have problems, just like people who drink alcohol in a responsible way. |
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Similar to Marvelockg, I think Bitcoin needs to be considered as a component of the retirement plan. Or better yet a wealth building plan. If you increase your net worth gradually year by year, when retirement age comes you will be in a very good position, and you will be able to live off the interest or average capital growth, as well as leave an inheritance to your descendants without spending the capital.
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The most important thing is for us to always withdraw our profits because this is the only way we can make money from the casino or the gambling platform we are using.
Well, I encourage people who play casino games to withdraw if they have a good session. Enjoy the money. But I wouldn't dare call that "winning", because it's a short-term variation within the inevitable long-term losing trend, due to HE. But since there are too many people who after winning a big win in casino games keep betting until they lose everything and more, it is better to withdraw. There will be other days to lose money. |
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I voted Poker obviously, but I don't know if you mean live games but played online, with a live dealer dealing the cards, which is what it looks like. In that case I prefer live to go to a land-based casino. Or the traditional online, where you can play more volume, several tables, and use statistics programs, or go to the casino, where everything is slower but the level is lower too.
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I agree that he is a legend. He was last active on the forum in 2019. I do wonder where these bitcoin OGs are and what they are currently doing. I also wonder about where the people who laughed at them when they spoke fanatically about Bitcoin, where they are currently doing. I wonder if they eventually invested in Bitcoin or are still stuck with their beliefs against Bitcoin.
In the early days, the forum was much more technical and there were no signature campaigns, it was very different from now. I imagine that the OGs are loaded and have lost interest in the forum because it's so changed. About the Bitcoin haters, I don't know, maybe some changed their mind and bought Bitcoin in time but in other forums you see them predicting that Bitcoin is going to go to 0 because it is a ponzi scheme, people who have had an account for a decade or more. They don't learn. Kids, it's hard to tell a class from 13 years ago the influence it might have had. I would imagine not much. |
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I don't think there is any law that forbids El Salvadorians from using noncustodial wallets. Chivo Wallet was first used when Bitcoin was earlier introduced but people are free to use any wallets they choose. I just checked some sources and discovered that many non-custodain wallets can be freely used in the first country that made Bitcoin a legal tender.
I don't think so either. It is one thing for Chivo to be the wallet that has the official backing and another to ban other types of wallets, which would go against the philosophy of bitcoin. And not only would we have found out about it a long time ago, but it would have caused a huge uproar in the community. |
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Its obvious you know very little or nothing abut bitcoin.
So it seems. Usually bull runs start when people like the OP get desperate and sell. And they usually end when people like him buy because it has gone up so much that it looks like it will never stop going up and the price is going to hit $1M next week. A reasonable goal for the upcoming race is the level of 100-200 thousand dollars per 1 bitcoin. I know. That there are many much more optimistic forecasts. Some predict 500,000 and even 1 million dollars for 1 bitcoin. In my opinion, this is from the realm of science fiction.
If they are referring to this cycle, as you seem to say, it is science fiction. I too think the $100-$200K per Bitcoin range is the most likely max for this cycle. |
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As others have also commented, this is crucial to put things in perspective. It's like if someone who has a net worth of $250K and an annual salary of $70K loses $500 on a bet or even worse in this case because people as rich as Drake already have all needs covered and can splurge on these things. However, losing $500 in this case can be the difference between making it to the next paycheck or having to eat ramen noodles until you clear it. |
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