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1961  Economy / Economics / Re: India as a developed country by 2047 on: September 09, 2022, 09:49:05 PM
India celebrated it's 75th Independence on August 15, 2022. During this celebration, the prime minister, Narendra Modi set an ambitious goal for the country, which is to become a developed nation by the time India celebrates its 100th Independence Day in 2047. India’s per capita income has keep increasing in recent years.

This is still far behind the per capita income of the developed countries like USA, UK, Japan, South Korea. As at now, India is a lower-middle-income country as per the World Bank classification.

India has to cross upper-middle income economy status before becoming high-income economy. At present, India’s economy is facing several challenges such as inflation and high wealth inequality.

How can India become a developed country:
👉👉The government must put a priority on the social and economic development of the nation, for which appropriate government schemes must be implemented.

👉👉There must be reduction in wealth inequality and improvement in HDI score: The government should increase the spending on public services such as healthcare, education, transportation etc.

👉👉Increasement in foreign investments: This will help to improve economic opportunities of the nation and bring in more foreign investment and more jobs. The government needs to provide a significant boost to the manufacturing sector for economic growth.

Reference: https://www.groupdiscussionideas.com/india-as-a-developed-country-by-2047/

CONCLUSION
Although almost all country are face with inflation recently, some adjustments in the economic sector can help to ease the citizen as well improve the country's development.

It's a bit of a bizarre proclamation to make, being a developed country is a bit more than just reaching a certain level of GDP per person. What's crazy is China has vastly overtaken India in the last couple decades to become a manufacturing hub and used all of that knowledge to slowly upskill their workforce. India has pretty much stood still or even gone backwards in that time, they have a lot of cottage industry but are not thinking strategically when it comes to business planning. With their recent decision to side, or at least make economic gain, with Russia in the war they started against Ukraine - they will increasingly be looked at with suspicion and this can harm their future development for a few short term gains.
1962  Alternate cryptocurrencies / Altcoin Discussion / Re: Investing in Casino tokens such as BFG, OWL or TFS on: September 09, 2022, 08:46:48 PM
It looks like all cryptos went down in the past few weeks/months, Bitcoin is down, Ethereum is down.

Among the few ones that actually haven't lost a lot of value are cryptos that represent gambling sites, for instance:

  • BFG for BetFury - they offer currently up to 76% yields per annum on the BFG token that is paid in other cryptos such as USDT, BNB etc.
  • OWL for OwlGames - they offer 43% per annum on their OWL token, their currency has actually went up in value whilst all other cryptos went down - and why? Anyone knows?
  • TFS for FairSpin - not very popular but represents FairSpin, didn't go down in value much either.

Are these things similar to what we had in the 1990s and 2000s before Crypto - like buying "William Hill" or "Ladbrokes" stocks? Is it more or less the same thing just in Crypto?

And why OWL keeps on going up in price? Honestly their site doesn't seem to be very unique or impressive - anyone has a credible explanation who is behind the price rise of that OWL token?!

 Huh

These are nothing like buying "William Hill" or "Ladbrokes" stocks. When you buy stocks you are buying part of the ownership of that company which is much more valuable and secured. All you're buying with these are virtual tokens that the company launched and they don't come with anywhere near the same legal protections. These are the equivalent of funding a casinos operation, so you will take all of the risk with them taking most of the profits. If you were serious about investing in a casino like this, you should stick with thorough research and buy into the stock of much bigger gambling companies - who have weathered all the storms, because right now with these casino tokens, you will be bobbing around in a dinghy in the Atlantic waiting to sink.
1963  Economy / Economics / Re: UK looking to freeze energy rates on: September 08, 2022, 08:36:47 PM
I just saw on Reuters that the UK government are planning to freeze energy rates (capped for a normal bill layer at £2500) for this year and next at a cost of an estimated $130bn for them currently this is the largest action taken in Europe apparently but it also feels like one of the last Western European countries to start to act - and one with a lot of control on how it can. BBC source

After the two years it's unclear what will happen but oil is a very sporadic industry and extra production can be set up in the North Sea as well as other countries being able to compete with the current supplies if they become more stable/less sanctioned in that time. There's also renewables such as wind which would be a reliable source of electricity in most of North West Europe (aside from a few weeks of sunny days every year).



The new prime minister about to be sworn in has been criticised for being out of touch with normal people and for chasing as much money as she can so this is an interesting start.

It is a really dumb idea to be real and is yet another stop-gap solution that does not address the underlying problem of energy security. The government could have taken over BP at fair market value, secured reliable access to all of their oil and gas licenses and really thought about benefiting the country long term. Norway has done it for years and grown very rich off responsibly managing their oil reserves for the benefit of all their people, instead of just the few. Alternatively they could have imposed a windfall tax on these producers, who's costs have not gone up, but their profits have skyrocketed due to the war the Putin started in Ukraine this year - they do not deserve this naked profiteering.
1964  Economy / Gambling discussion / Re: The Rise of Mobile Gambling Is Leaving People Ruined and Unable to Quit on: September 08, 2022, 07:43:55 PM
With the access to the faster internet service and high end mobile phone, it was expected! Gambling addiction was always a problem but with the easy access of various online platforms, it is becoming even more evident nowadays. It is also becoming difficult to catch problem gamblers early on as we just need a mobile phone to gamble.

It is indeed a problem in many countries. Online gambling platforms are restricted by the local law so even young people are getting addicted to such things.

I believe medical attention is needed but moreover an internet surveillance system is needed just the way people have in China. Otherwise, their penetration will just keep on increasing.

With everyone having access to a smart phone these days, it does seem like the problem is at it's peak right now - hard to break any further into this saturated market. In reality, if someone is aware they have a problem then - at least when it comes to phone apps - it is relatively easy to quit compared to other addictions like chemical drug dependency or financial blackholes caused by gambling. The answer is to just re-evaluate and probably uninstall these games because that is really the only way to break free. They can be highly addictive, possibly the worst ones are the type that have lots of social integration because if you've built up a network of gaming buddies it can be hard to get out of that loop, but you may still need to step away.
1965  Economy / Economics / Re: What define your success, "money, fame or achievement"? on: September 08, 2022, 08:35:56 AM
Everyone loves to become a successful being but success definition differs for everyone. Most people see success as being fame and rich. Although money is a huge driving factor for a lot of things and an ultimate measuring stick for whether or not a business is successful but this doesn't fully define success. Success is about claiming and speaking up for what is important to you. Consider these and tell if they are successful

👉👉a rich and a famous man with a broken home
👉👉a rich and a famous man that has failed to impact on others.
👉👉a money corrupt rich and famous man
👉👉a ritualist with great fame.

Although this people are rich and famous but aren't successful at my own part. There is always a shortcut to riches and being famous but success comes through hardwork. There are many rich and famous people who have attempted suicides in their life. If being rich is being successful, then what made them to take such disastrous steps? Sanjay Dutt is a son of a famous politician and is one of the richest celebrities, Sunil Dutt. Still, he is behind lock-up. Is this what we call as success? Many gangstar becomes rich out of crime and corruption but they are not successful in our society. This is part of what causes increasement in crime rate and corruption in the world as everyone want to be rich so as to be called a successful being. A successful man is one who finds his purpose and creates a life where he can fulfill that purpose.

CONCLUSION
Let's stop making money and fame the only measure for success. Being successful is being happy and satisfied with ones fully achieved dreams. Money cannot buy satisfaction and happiness. Satisfaction and happiness is the true definition of success and anyone without this can not be declare as being successful.

It seems a lot of younger people these days are seeing "streamers" as a desirable profession, it used to be footballers which at least had a athletic skill angle to it. Success is about claiming and speaking up what is important to you? Eh? Not really, there are a lot of people who spout a lot of garbage who are successful, it doesn't make them good or productive people who are benefiting society - in many cases they are helping to spread hate and division because it's easier than solving difficult problems. People should definitely focus their time and energy on the things that the like, because they're most likely to produce something valuable to others in that way.
1966  Economy / Gambling discussion / Re: chance to win, so you keep holding on? on: September 07, 2022, 09:56:12 PM
BEGINNING: to share experiences, what game do you use? accompany activity

DISCUSIONI feel cryptocurrencies when the market is bearish it's boring. Then the game will continue to make crypto a fun thing!
many of play to earn are still very much in demand, why are you still depositing for the same game?
don't you try a game that's a little different?
why and for how long?

So am I, of course the attractive offers and convenience offered make you feel at home.

adventure.

Conclusion exchanging game information, from the gambling board the use is quite a lot with varied game signatures, maybe in the daily life of a gamer, either play to earn or casino games and the like. I think talking about games is fun and a topic that is always fresh to be discussed.

Are you trying to describe the phenomenon of chasing losses? The mind has a tendency to try to minimize or even heal losses, not just physical one but mental scars too. Combine that with the gamblers fallacy that you somehow deserve or are due a win, even though the mathematical chances of winning are independent of any previous play in most games, can lead to pouring in a lot of good money after bad. Many are unable to "cut their losses and run" after a bad losing streak, but it's the only way to break away. If you really want to be a successful gambler, you have to have strong self control and analysis abilities, being able to cut yourself off when the odds turn against you.
1967  Economy / Economics / Re: Can legalisation of Cannabis help US economy? on: September 07, 2022, 07:36:43 PM
According to former Senator Tom Daschle legalising Cannabis can partially solve US economy’s problems in the short term, and it can even help to stabilise the US economy in the long run.

The Senator has further claimed that Cannabis is an $16 billion dollar industry, and it has the potential to become a $75 billion industry in the long run.

Also he’s acknowledged the fact that Cannabis is approved in 40 states, and if it’s legalised in all the states then it could create much needed jobs, and even the government can benefit from the taxes levied on it’s sale.

Last in my opinion whoever wins the upcoming election will not approve this idea instantly, but what do you’ll think can legalising Cannabis can actually help the US economy in the short term?.

Source:

https://thehill.com/opinion/healthcare/515299-one-cure-for-an-ailing-american-economy-legalize-cannabis

Prohibition has proven to not work many times throughout history and in many cases creates a much wider disaster. We see the war on drugs has driven huge amounts of the most serious crimes in South America and it got worse every decade due to the battle over the lucrative drug trade. If it was legal and regulated, treated as a medical condition instead of a criminal act, then it would save so many lives - both of drug users and of all the people involved in the supply chain which has to operate underground. It would allow all the money to be legally taxed and potentially make drugs safer to consume. You're always going to have addicts, so better using education and intelligent approaches to warn people off than trying to banish it altogether.
1968  Economy / Gambling discussion / Re: [NEWS] Gambler Charged with Murder after Letting Kids Die on: September 07, 2022, 07:25:24 PM
A careless mother’s casino time resulted in her children’s death. The neglectful parent had left her kids in a hot car to place a few punts at a local casino without considering the consequences.
This is the saddest news I read today. I knew this case isn't possible when in online gambling but this is possible for other unfortunate circumstances too especially at home or somewhere else when you're doing your online gambling activity.

This should be a lesson to take to all parents out there that family is priority first before anything else especially children.

I wonder if there are parents who have experienced something like this or someone knew that has the same case, not with the one with a dead case though but something accident happened because of neglect parenting.

What a horrific end for these poor children, I don't know what on earth their mother could have been thinking. It just goes to show that a gambling addiction can be extremely dangerous, but it is likely she also had many other underlying mental conditions which must have contributed to this as well. There is a shred of sympathy for her as a single mother, it can be extremely hard raising kids but she was clearly lost in the way she was handling her problems. Unfortunately she must now pay in terms of a jail sentence and will have many years to consider the two lives she ended. I do wonder if the casino could have done better, like patrols in the car park but they could still have been easily missed..
1969  Economy / Economics / Re: UK looking to freeze energy rates on: September 06, 2022, 08:52:07 PM
I just saw on Reuters that the UK government are planning to freeze energy rates (capped for a normal bill layer at £2500) for this year and next at a cost of an estimated $130bn for them currently this is the largest action taken in Europe apparently but it also feels like one of the last Western European countries to start to act - and one with a lot of control on how it can. BBC source

After the two years it's unclear what will happen but oil is a very sporadic industry and extra production can be set up in the North Sea as well as other countries being able to compete with the current supplies if they become more stable/less sanctioned in that time. There's also renewables such as wind which would be a reliable source of electricity in most of North West Europe (aside from a few weeks of sunny days every year).



The new prime minister about to be sworn in has been criticised for being out of touch with normal people and for chasing as much money as she can so this is an interesting start.

A really useful thing would be to nationalize companies like BP and Shell, for the benefit of the whole of Europe & the UK. They are making vast profits right now with energy prices peaking and hundreds of millions of Europeans are getting screwed over for a relatively small amount of investors. Norway had the right idea all this time with the creation of a sovereign wealth fund, where oil profits are invested for the long term benefit of citizens of the country instead of short term payouts that only help the rich get richer. Even if it was just a temporary/emergency take over until the Russian war on Ukraine is sorted, it would seem like the best solution than going for a huge loan that doesn't help the underlying problem longer term.
1970  Economy / Gambling discussion / Re: Finding value bets on: September 06, 2022, 02:48:38 PM
Last night, Djokovic, one of the best tennis players on grass out there (potentially he is the favorite to win in Wimbledon) - had odds of 1.25 at peak against Timmy, after Timmy won one set.
Would you see that 1.25 as a value bet or not?

What if a tennis player in Wimbledon or some other big tournament, quickly goes 40-0 and you have him @ 1.10 to win the game (not the match, just that 40-0 game) - can this be a value bet?

What about a basketball match, the total line is 180.5 and the game in live goes 150.5 - is it worth taking the "over" because the line has dropped 30 points below the original line?

How do you define value in general?


Unless you're crunching huge amounts of information like the casinos then at best you'll end up making an "educated guess". If you're keeping track of your betting and doing analysis, maybe over a few years you could determine that your judgements on value are accurate - because otherwise variance might bring your profit back down to zero on short timescales. Honestly you'd think things like a team being two goals up in a football match with 5 minutes to go a sure fire winner, but I've seen enough reversals of fortune to know it's not a long term winner.
1971  Economy / Gambling discussion / Re: Betting Strategies & Betting Psychology on: September 06, 2022, 02:34:23 PM
You can find the extensive lists of Betting Strategies & Betting Psychology here: https://sportstatist.com/betting-strategies/

As you know, some players prefer to bet following certain betting strategies. At the same time, some players use their own betting strategies, and some do not even know about their existence, or do not believe in their effectiveness. In short, this topic is intended to discuss betting strategies and the psychology of betting as well...

Wow, that has to be the most extensive list of betting articles I've ever seen and it would take days or weeks to read through all of them. It seems a lot are based on a thorough understanding of mathematics and this is a key thing that many gamblers struggle to get. Unless you're playing a timeless game like poker which involves a lot more psychology than most games, then you also need to understand that the more people who figure out and use the strategy - the less you'll end up making on it over time until eventually it barely hits break even. Unless you're playing with pure honed and statistically repeatable over a long time skills, you will eventually revert to the average.
1972  Economy / Economics / Re: Marketing terminology (Does "affordable" & "Cheap" mean the same thing?) on: September 06, 2022, 02:26:07 PM
Business people and marketers need to add more clarity to these terminologies in business which i think are often misunderstood by some customers, that is- one to mean exact same thing as the other.

The terms are "Affordable & Cheap" which vendors often use during marketing.

"Affordable" IMO means that a certain commodity may not be cheap but affordable depending on the financial class of the customer, While "Cheap" simply describes a commodity as affordable to everyone.

Have you ever been in a situation where you misinterpreted a marketer's advertisement that said "Affordable" and then you went ahead to assume it meant "Cheap" only to make inquiry and find out otherwise?


As others have said, cheap and affordable are very different things to very different people. To a billionaire a yacht is affordable but to most people it is so expensive it is unattainable.  However cheap can be much more relatable to all people and used in similar contexts, like if the aforementioned two groups of people saw a 1oz gold bar going for $10 they would likely both say it is cheap - because that is a bargain price.
1973  Economy / Gambling discussion / Re: Your Set Of Action When Your Account Face An Issue on: September 05, 2022, 05:03:31 PM
So you're playing in a casino and you triple your wager but when you try to withdraw you cannot what set of actions are you going to do,
Are you going to screenshot your dashboard and your deposit, are you going to create a ticket first and ask support what happens to your account or you will ask chat support and screenshot all conversations because of the fear of getting your account ban, or you will directly post your concern here in Bitcointalk.

In reality any gambler is at the mercy of whatever gaming company they are using and if the gambling company decides that you aren't a desirable customer for any reason then there is little you will do to change their mind. It really depends on the issue that you're talking about, if it's straight up like you should have gotten a promotion but it has not credited to your account, chances are if it is a good place and you did match the promotion rules then they will honor it - even these big systems get occasional glitches. If it's like your account has been limited because you made too much profit sport betting, then you're stuck and it's better to just move on than argue for it to be reviewed.
1974  Economy / Economics / Re: Nigeria to establish an economic zone which is crypto friendly with Binance on: September 05, 2022, 04:59:20 PM
Nigeria to establish an economic zone which is crypto friendly with Binance

The government of Nigeria the largest cryptocurrency economy country in Africa is considering a cryptocurrency partnership with Binance exchange to establish an economic zone where cryptocurrency could be best put in practice in a friendly manner to the citizens for convenient operations of cryptocurrency activities within the country in other to boost the economy growth and development.

Quote
Our goal is to engender a flourishing virtual free zone to take advantage of a near trillion dollar virtual economy in blockchains and digital economy. https://twitter.com/officialNEPZA/status/1565685778256101377?t=rSLPDSf_qEW9MxCfIFW6rA&s=19

The country is making moves to better the use of cryptocurrency in its increasing crypto economic system considering the vast growth of the population which are contributing more to the advancement of crypto in the entire Africa at large, this could be an encouragement the more towards the uses of bitcoin, it applicable aspects along with some other cryptos as means to accepting payment in their businesses.

It does seem like a match made in heaven, Nigeria gets to test the waters with this crypto idea and shady Binance get a slight legitimacy boost. Judging from past things I've seen with Binance, they're probably quite willing to engage in the sort of "deal making" that is useful for politicians who accept gifts but probably less favorable than it should be to the average Nigerian who might want to use this economic zone. No doubt Binance is aiming to capture new markets since they have been scaled away from stock market listings in places like New York and London because it requires strong financial transparency - the fact they don't want has to make you wonder what's really going on, but then they do gouge fees like crazy.
1975  Economy / Gambling / Re: chinese bookmakers with tf gaming platform NO KYC on: September 04, 2022, 09:38:29 AM
maybe someone knows such bookmakers as https://www.zhb77.com/ or btc365.com (5 month ago) who have tf gaming or other chinese platform without KYC

would be very grateful if you could share these

Honestly these days having KYC is a positive sign that a casino will be around when you wake up the next day. Any casino that is not using KYC can be taking all sorts of shortcuts and residing in jurisdictions that you probably want to avoid. That is even more true for casinos/sportbooks serving the Chinese market - either serving people while being based on China or serving Chinese citizens. If the are serving a website from China then it is simply a waiting game before they get shutdown and all your funds will disappear. If you are a Chinese citizen it's better to avoid gambling because any site you go to could take your money and you would have no legal methods of complaint without the authorities in your own country realizing that you were breaking the law.
1976  Economy / Speculation / Re: Bitcoin could drop to $10,000 by 2023 as the Fed normalizes interest rate policy on: September 04, 2022, 08:48:35 AM
Bitcoin could plummet 76% from current levels to $10,000 by 2023 as the cryptocurrency faces three macro headwinds that have an influence on its price, according to a note from Stifel's Barry Bannister.

Bannister highlighted global money supply, the 10-Year US Treasury yield, and the equity risk premium of the S&P 500 that have influence over the price of bitcoin. Planned tightening by the Federal Reserve in the form of interest rate hikes and a reduction in its balance sheet could have a negative impact on the price of bitcoin, according to Bannister.

"In 2022, we see bitcoin in a broad trading range bounded by year-to-date intra-day levels with greater downside risk in 2023 if the Fed continues to normalize policy in a 'standard' two-year tightening cycle," Bannister explained.

s/markets.businessinsider.com/news/currencies/bitcoin-price-outlook-10000-2023-3-macro-headwinds-interest-rates-2022-2%3famp]https://www.[Suspicious link removed]s/markets.businessinsider.com/news/currencies/bitcoin-price-outlook-10000-2023-3-macro-headwinds-interest-rates-2022-2%3famp


Well, it would be more like plummeting 50% from current levels if it were to go from $20k to $10k? As we see, Bitcoin has been heavily affected by the flow of cheap money stopping around the world and as rates go up, these sort of assets look set to fall further as people would rather have more stable cash, commodities or shares. We have barely seen a dent in the stock market yet, with which Bitcoin does have some correlation, and it's likely to fall at least 10-20% if not more over the span of the next year. For many people the appeal of Bitcoin and cryptocurrencies in general has worn off, it is no longer as desirable because it dropped so far so fast.
1977  Economy / Gambling discussion / Re: Dealing with ISP block on Gambling websites on: September 04, 2022, 08:20:57 AM
Hello there,
I tried accessing TrustDice today, which is one of the first cryptocurrency casino's I've been introduced into, but it wouldn't load, claiming that "Connection is not private". I thought something was fishy at the moment, but quickly realized that it was actually blocked by my ISP.

How should I deal with such an issue? I certainly thought of using a VPN, but I only have a free one, meaning that it could easily be used by another person on the website simultaneously, which could potentially lead to a ban. Stake and Fortunejack are also banned, after making a few guesses, Roobet still works fine.

There isn't always a good way around this and it kinda depends on the laws of the country you are in. If it's legal in your country, then you should either contact the ISP to ask them to remove this unnecessary block or switch ISP if they aren't willing to open up a service you are paying to use. If it is illegal to gamble in your country then you face multiple risks which means you probably need to stop playing at online casinos, there is the risk of prosecution which could lead to many bad consequences and then there is the threat that the online casino could seize all your funds leaving you with little recourse depending on how their terms of service agreement is structured.
1978  Economy / Economics / Re: The impact of Russian and Ukrain war on world economy on: September 04, 2022, 08:07:58 AM
I look to it that the war affecting the economy of every country and with research about it , Al-Jazeera gave detail of how some countries is affected and if the war did not stop , more of the country will keep suffering. Russia is part of the biggest supplier in oil and the short suorpply is affecting the world. The war is affecting the europe countries hard because two countries in the war are two big supplies to europe. Russia cut supply of oil to euro and that affecting production, gas use. The Ukraine economy supply large amount of iron, steel, ore,stag and ash to the world and euro now in shortage include animal vegetable fats and oil to euro and the other countries.

This is hard time for economy to survive what is your thinking about the collapsing of world economy with highing inflation.


It's really hard to define how much impact the war is having, after all we were due for a proper recession if we exclude the randomness that was the Covid dip. There has definitely been a strong impact, Europe is a big contributor both to the global economy and a large buyer of things from places like China, so it has huge ripple effects if demand is being suppressed. Oil prices spiking is also a pretty reliable indicator that a recession will be coming soon after. All this has created some pretty wild inflation, it was hard to contain with just the after effects of the global pandemic but this war that Russia is waging on the edge of Europe has thrown all normality out the window. Russia has just cut off gas supplies and finally shown it's true face, that it is a useless trading partner and will have to sell it's primary source of income - natural resources - to other places and get a much lower price in return.
1979  Economy / Gambling discussion / Re: Gambling Problem, Is it Possible to be a Thing of the Past? on: September 04, 2022, 07:55:31 AM
I am doing my daily reading of online news and articles when I stumbled on this one.  It has an article title of Casino Guru’s Šimon Vincze on How Problem Gambling Can Become a Thing of the Past So I read and wanted it to share in this forum for some healthy discussion.

Here is the opening paragraph of the article to establish the questions.
Quote
We sit down and speak with Casino Guru’s Šimon Vincze, the man behind the company’s sustainable online gambling and reducing gambling-related harm juggernaut. Vincze most recently published the blue paper for the Global Self-Exclusion Initiative, a massive campaign that intends to tackle problem gambling with the participation of industry stakeholders and build a future where gambling-related harm is no longer an issue. Find out who Vincze is and how he is reshaping the industry.
More detail can be read on the link above.


The 3 key points that summarize the article:

Quote
The gambling industry is missing a system with the possibility to self-exclude internationally.

Thanks to our global presence and active approach toward sustainable online gambling, we saw a gap in the current self-exclusion options, practically overseen by the rest of the industry.

Read the blue paper and dedicate a few minutes of your time to imagining a world where blocking one's access to all gambling opportunities is a possibility.
"

To me it seems that while self exclusion is an important tool for that initial stage of trying to break the habit of using your regular and favorite gambling sites, some deeper changes must take place to the individual for them to be free of the addiction. People often stray into gambling because of boredom or wishing for a financial improvement, but they end up trapped in a vicious cycle. It is better to address the points that led you into gambling in the first place, often getting a better paid or more fulfilling job can free you of many burdens. Finding different hobbies or activities to fill your spare time is also critical because you'll need to find something else, hopefully more productive, to do.
1980  Economy / Economics / Re: Working hours | How many are too many? on: September 03, 2022, 11:47:10 AM
Especially after the pandemic, flexible working schedules keep popping up, either through working from distance, or less hours. Only a few countries have embraced working 4 days a week, instead of 5 or 6, and case studies have shown positive results. Some of them include, the UK, which has recently begun one of the largest trials of the 4-day working week, Belgium, Iceland, Ireland, New Zealand, Japan, Spain and the UAE. The 5-day a week is one of the most common ones, however, with the evolution of technology, longer hours don't necessarily guarantee a higher productivity, most likely the opposite.

Some of the benefits 4-day work week include:

Reduced costs on both ends, employees will have one less day to commute to work, while avoiding paying extra money for lunch, coffees etc. The employers on the other hand, will have the office closed for one more day, reducing running costs.

Happier employees and better mental health. Having more free time increase overall happiness and improves work-life balance, which can result into lower levels of stress and a generally better mental health, something which is suffering in our day and age.

And most importantly, increase in productivity levels. Overworked and stressed employees are actually less productive than those working a normal or reduced working week.

My case - Example to avoid

By law, in Greece (and most of Europe to be honest) the typical working week comprises of 40 working hours. However, this rarely happens in the private sector, where in most cases you're working up to 48 hours/week, with one day off in a week. In the tourism sector, it's actually a lot worse. Employees are working 7 days/week, up to 8-10 hours per day and not usually not being paid good enough.

Personally, in May, I started working at a known supermarket chain for 20 hours/week (part-time). I wanted to take a little time off, after working for 4 years full-time with only one day off per week. My plan backfired though, the money wasn't enough to keep up with the increasing living costs and started working at a hotel's restaurant, another 24 hours/week. Recently, I was proposed to work the night shift at the hotel's reception, because the former employee had some family business to attend to and had to leave. Me, wanting to make some extra money due to having upcoming expenses, accepted. Now, I'm working 16 hours per day, except Sunday and Monday which are my days off from the supermarket, which equal to 100 hours/week (a week is comprised of 168 hours). Of course, I will only be doing that for September, and here I am, writing this post during the graveyard shift.

How many hours/week is the typical in your country? How many hours are you actually working and how does a 4 day work week sound?

It feels like 40 hours is enough quite frankly, although being able to work overtime when you feel like it is a very nice perk - especially if it pays a higher rate. Unfortunately jobs at the lowest end of the spectrum can require zero skill and only a bit of training, which makes these workers particularly replaceable. The only way to get paid a better rate per hour is if you have harder skills to acquire - whether that is an electrician, doctor or even a programmer. You do seem to be stuck in an extreme situation though, I don't know how you can tolerate working 16 hour days and get the feeling it is a bit of an exaggeration, it certainly is not healthy to be doing that for more than a few weeks. Nor should the supermarket accept it, because you a presumably a good worker and it just means you'll burn out.
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