It was established that the two accounts, to which the payments totalling €56,000 were made, were a personal bank account and a Boyle Sports account, both in Thomas O’Connell’s name. The payments varied from €100 to €1000 and averaged at just over €200.
“Contact was almost on a daily basis – sometimes a couple of times on a particular day. He admitted that he took €56,000 and impersonated (the solicitor),” Det. Garda Fuller said. O’Connell was actually a client of the solicitor he impersonated. The defendant had a gambling and alcohol addiction.
The phone calls and texts – supposedly from the solicitor - to the victim were a work of fiction by 48-year-old Thomas O’Connell who did not stop until he got his hands on every euro of the €56,000 the victim had inherited. The most shocking part of this whole story, like so many other times when this happens, is the whole sum that was involved. 56k would be a huge sum to most people and this was extracted in probably a year or two, this is a substantial sum that could have given them such a big head start if they had not frittered it away. You've got to wonder how someone gets to the age of 48 years old and has not figured out what a futile activity gambling is - that sort of sum could easily have padded out their retirement instead of dreams and stress of trying to attain a mythical big win. At that sort of age, it is really hard to have any sympathy for them because they should have learned the pitfalls a long time ago. |
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Due to the ongoing war, inflation along with fuel prices have skyrocketed among the globe, with households not being able to keep up with the increased living costs. However, the impact of the increased living costs differ from country to country. Let's take Greece's case for instance, which is the country of my residency. According to CNN Greece and MurciaToday, it has the third more expensive fuel in Europe, averaging 2.17€/liter of 95 unleaded, right after Finland and Denmark at 2.218€/liter and 2.208€/liter respectively. On top of that, the average mentioned price isn't that accurate anymore, due to the article being two days old already and the prices are increasing on a daily basis. The average is close to 2.20-2.22€/liter, but that could also be valid for the other two mentioned countries. However, Denmark and Finland have one of the highest salaries and considerably best living conditions in Europe. Denmark on the one hand, doesn't feature an official minimum wage, but statistics show that the average income per individual is $2580 (~2450 euros). Finland on the other hand, also doesn't have an official minimum wage imposed, however the minimum salary someone can expect starts from €1.500 to €2.500. Greece's minimum wage however, doesn't exceed €713 before taxes. It's pretty obvious that you can easily see the difference. The Greek citizens are suffering from the increased living costs, since everything has skyrocketed in price, from daily expenses such as gas and going to the supermarket, to electricity and utility bills. Personally, in my area petrol costs €2.35/liter, while I had to pay €300 for my electricity bill (4 months period), while increases in daily groceries have surpassed 20% in some products, such as meat and vegetables. Sources: https://m.murciatoday.com/diesel_prices_in_spain_exceed_eu_average_for_first_time_1776291-a.htmlhttps://www.cnn.gr/oikonomia/story/313066/spaei-ta-konter-i-timi-tis-venzinis-aplisiasta-ta-pratiria-sta-nisia/ampIt's always interesting to see such observations but it is really hard to make comparisons between countries for so many factors like the ones you describe. I think generally in Europe and similar countries in "The West" we have incredibly privileged and relatively stable lifestyles, even when you factor in recent issues with inflation - the effects are much worse elsewhere. You make some reference to Scandinavian countries and their politicians were surprising sensible and honest with using funds gathered from oil extraction, putting it into sovereign wealth funds which give their citizens a much greater return over the long term than allowing a few companies to profit huge amounts that only benefit shareholders. |
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This might be good news for everyone, however, before we larp about this I will also include news articles about 3 of George Soros’ greatest and best investments. You might not be happy.
Am I too much of a skeptic or should we trust what Dawn Fitzpatrick is telling us in this interview?
[Fitzpatrick] When it comes to crypto generally, we're at a really important moment in time, in that, something like bitcoin might've stayed a fringe asset, but for the fact, over the last 12 months, we've increased money supply in the US by over 25%. So there's a real fear of debasing of fiat currencies. And when you think about bitcoin, I don't think it's a currency, I think it's a commodity, but it's a commodity that's easily store-able, it's easily transferable, the IRS classifies it as a physical asset, it has a finite amount of supply, and that supply halves every 4 years. So I think it's interesting. And I think by the way, when you look at gold price action, in the context of a fairly robust inflation narrative of late, it's struggled getting traction and I think that's because bitcoin is taking some of its buyer base away.
[Bloomberg]: Do you own any bitcoin?
[Fitzpatrick] {pause} {laughs} I'm not gonna answer that.
[Bloomberg] That is what I would call a mysterious response.
[Fitzpatrick] But I will say, the one thing also, when you think about bitcoin... Central bank digital currencies are going to be here, I think quicker than people expect. China's been running their trial for a while now, and I think there are some strategic reasons why they're going to be a first mover. And I do think, from a geo-political perspective, they want that digital currency to be used around the world and it is a potential threat to bitcoin and other cryptocurrencies.
[Bloomberg] I was just going to say, does that legitimize bitcoin, or does that delegitimize bitcoin?
[Fitzpatrick] So I think it is a real threat, but I think it will be temporary. I don't think they'll be successful in permanently destabilizing bitcoin.
Here's how George Soros broke the Bank of Thailand
According to sources who had knowledge of the Quantum Fund’s positioning at the time, Soros bet just under $1 billion of his total war chest of $12 billion against the baht.
How George Soros Broke The British Pound
What did these people do to make so much money? They bet on the inevitable. They bet that the pound and the other weaker European currencies were overpriced against the deutsche mark. They bet that the politicians and the central banks could not much longer maintain artificially high exchange rates in the interests of European unity.
George Soros 'makes $1.2bn betting against yen'
George Soros, the hedge fund billionaire known as "the man who broke the Bank of England" for his $10bn (£6.4bn) bet against the value of the pound in 1992, has reportedly made more than $1.2bn betting against the yen.
There is no good way to short the Bitcoin on such a scale that I know of, as it is such a volatile asset and you would not currently be able to do it to a large enough scale compared to the other currencies that you stated Soros shorted for huge profits. This indicates the Soros is genuinely attracted to Bitcoin as a longer term asset rather than seeking to engineer some shorter term profits out of it, he might very well be experimenting with this new asset class and appreciates it's anti-inflationary characteristics which look very similar to a gold standard. It's really good news if he is buying into it, however these sort of financiers are very cagey about their activity so you won't find out until long after the fact. |
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In court documents made public on Wednesday, the Federal Trade Commission and the Department of Justice say Twitter violated a 2011 agreement with regulators in which the company vowed to not use information gathered for security purposes, like users' phone numbers and email addresses, to help advertisers target people with ads.
Federal investigators say Twitter broke that promise.
"As the complaint notes, Twitter obtained data from users on the pretext of harnessing it for security purposes but then ended up also using the data to target users with ads," said FTC Chair Lina Khan. Twitter broke their promise about how they collected their user data (email and phone number), they violated the agreement [1] that was presented in the paperwork with the authorities back in 2011, and they have been charged and fined $150 million for selling it for Ads. Similar organizations have exploited data in business, and many of them have always denied it to the public, but after further digging and investigation, the lies become burst into the public. Broke their promise? They broke the law and got caught. Frankly it shows that the regulators are always far behind the criminal activity taking places and it's probably by sheer luck that they got wind of this. Facebook went through similar things and you know what they most likely learned? How to hide the malicious activity they are doing even better, and besides that - the punishment is likely to cost them tiny amounts compared to the money they can potentially earn from abusing data in these ways. $150 million sounds like a big number to us, but it's pittance to this multibillion dollar company and comes under the "cost of business" category in some accounting line. The regulators need to be more proactive instead of reactive if they want applause. |
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It has been a while now that I have been watching (FIAT) financial advisors on television being guests on talk shows or Breakfast shows talking down at Bitcoin, whenever they get a chance. This morning another so-called financial expert was invited to a breakfast show and he smashed Bitcoin as an investment option. Now let's get behind the real reason for this : 1. Those so-called financial advisors (brokers) gets paid a fee to manage other people's money. Why would they promote Bitcoin investment, if people do not need them to trade Bitcoin? 2. They get commission on the financial products that are being sold to their customers. (They get nothing if you buy your own BTC) 3. People do not need "expert" knowledge to invest in Bitcoin. You go to computer... navigate to a local Crypto exchange... open an account online and link the account to your Bank account. Then you wait for the price to drop and you buy some bitcoins.  4. They are also butt hurt, because Crypto currencies are not regulated to protect them. 5. The percentage that you invest in Bitcoin or Crypto currencies..are not available for them to invest in their investment options. So, next time when you see those financial advisors on TV bad mouthing Bitcoin, think of the things I mentioned above. A balanced portfolio should have a mix between "low" / "medium" / "high" risk investments.... and Bitcoin will fall within the "High" risk investment category .... so do not tell people to avoid it, because you cannot make money from them making their own investments. https://cointelegraph.com/news/at-8-990-000-gains-bitcoin-dwarfs-all-other-investments-this-decade“It’s the best-performing asset of the last decade for sure,” said Daniel Polotsky, CEO of CoinFlip, one of the largest bitcoin ATM companies in the U.S. Say you got into the game when a bitcoin was 10 cents, around October 2010. If you invested $100, you’d have been able to buy about 1,000 bitcoins. <=== $29 610 000 worth at today's value. What will you say in 12 years from now? That is a pretty illogical and poorly thought out attack on financial advisors on behalf of Bitcoin. Professional and properly regulated financial advisors have a duty to keep peoples money reasonably safe ideally with a reasonable rate of return on investment. Any advisor that is worth their reputation should only have less than 5% of any individuals wealth in highly speculative assets, unless that person has told them to put much more money into it and are fully aware of the risks associated with that. We're talking about Bitcoin, which if someone had invested 100k into about a year ago, they would only have half the amount remaining now, but you sem to think of it as some infallible asset - it is extremely risky and not what sensible people should keep large amounts of their wealth in. It's easy to speculate when you have no money, as many people here might suffer from. |
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It's probably something Spain and Greece could do well having but I'm not sure if there's any other country that gets a good amount of sun.
If they tried making rooftop wind turbines that were quiet and stable enough, you'd be able to produce a lot of electricity from the UK, the Netherlands, France, Denmark, Sweden (and probably most of the rest of Northern Europe).
The rise in fuel price is probably good in a way as it might make renewables seem a more attractive source (the EU already sources half of it's electricity from renewables). I think Denmark is able to source half of its electricity usage by wind too.
It'd probably also be useful to push efficiency, a modern mobile phone uses very little electricity when compared to other things (boiling a kettle uses about the same energy as giving a phone a day's charge).
The UK already has huge amounts of wind energy located around the country - both on and off shore. It would be good to get more variation with solar panels, tidal energy and even more nuclear energy. This idea seems to be long overdue and could have been implemented a decade ago, so I guess we should applaud Russia for spurring Europe into this plan of action since they started the war in Ukraine. The only downside I see and one that is often overlooked is how dirty the mining process can be when extracting all the rare metals that are used within these solar panels. Another key factor that will help with the adoption of renewables are constant increases in battery storage tech so it can last longer. |
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Hello all,
I have been following Bitcoin prices for some time, and now I'm doubtful if it is a good time to start accepting it as it has changed so much in the past months. Those who accept Bitcoin - is it worth it? And do you accept Bitcoin straight to your wallet, or do you use third-party services?
Thanks in advance!
Sure it's a better time than any other to adopt and accept Bitcoin because there are so many developers in the sector. There are a whole range of solutions available depending on your business and personal needs. If you just want to accept Bitcoin as another payment method then you should probably seek a company that allows you to sell it immediately on receipt, with all the appropriate fees factored, because volatility might see you lose (or gain) money from price movements. If you're more interested in accruing Bitcoin over time then you might simply want to accept it to your private wallet, as long as you take reasonable steps to secure it. |
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Can an old casino that's very active here in Bitcointalk, through support, forum advertising, and signature campaign, suddenly pull the plug and stop doing all these things can still keep and still maintain its position in the market.
A case study is Bitvest and 777Coin we know that Lightlord was sick and now he is well and comes back from time to time but not doing the same thing they're doing for many years.
There are many different elements involved which can effect the popularity of a casino, however visibility in a public forum like this - when you consider Bitcoin / cryptocurrency might still be considered a niche area, is a very powerful thing to drive new users. Gamblers can be an inherently unstable bunch and very few will take a long term view on the matter, if they're addicted they can easily run through every penny to their name in search of that one last big win when they will quit (or at least that's how they lie to themselves). So that creates a churn and turnover rate which requires replacements to keep a website active, however there might be a much more moderate base line who stick to a regular schedule, however these can also be enticed away if there is little new content. So yes, advertising here can be a huge boost to casinos and might even be a requirement to success. |
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We started reading more reports that talk about the possibility of a global food crisis, especially in poor countries.
Supply chain problems, war, inflation, fertilizers will set fire to the already high food prices.
What can the average middle-class person do to protect themselves from food problems?
Will buying more food and storing it solve the problem, or trying to start farming or investing and trying to increase his money to buy food at any price? Or what?
It's worth considering the audience or who is actually writing the response for it to be relevant. I have seen numerous studies in the past that show that many countries in places like Europe and North America can have an extremely wasteful attitude when it comes to food. Over production is a huge thing and the amount of food that is thrown out every day by places like supermarkets is huge. A small factor in that is also the idea of an expiry date, which is generally a good idea for keeping food in a safe condition, but it definitely takes the most cautious view and consumers can be induced to throw out good food. Consumers should make a rational decision e.g. a block of cheese, which is essentially mould, that looks fine will most likely be safe for one or two extra days past expiry. Expiry dates are a great thing for manufacturing companies as it induces constant buying. |
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I don't think there's any challenge for the existing ones.
If there's a challenge, then it's for the new casinos on how they're going to attract the customers, every customer including the loyal customers that have been with those existing casinos for a long time.
That's the biggest challenge that they shall do especially if they've been on those casinos for years already.
We probably won't see the challenge because we are users and not owners. But in every business, there will be challenges and competition from fellow business owners. Attracting new customers to the business is the job of every casino, be it a new casino or an old one and it is one of the challenges that every casino has to face. From a businessman's perspective, you'll see the challenge because every beginning is always a challenging part. I've been there as a business owner although it's not a casino I know it's the same for the new casino operators and owners since it's also a business. Aside from getting new customers or players, the next challenging part is on how to maintain the loyalty of each of them. That's what I mean. As a businessman, before we even run a new business, we have seen the challenges because previously, we would have surveyed to see what we will face and how to overcome them. As long as it is a business, there will be competition among business people and it will depend on how we can avoid and overcome it. How to keep customers to stay in our business is the only way after we can get them as our customers and it will depend on how we can serve them. A foolish man learns from his mistakes, a wise man learns from the mistakes others make. That being said, anyone who has been in business for a while with an entrepreneurial spirit will be aware that trial and error is key to improvements, many of the best businesses out there started out as one thing but adapted to follow whatever money was uncovered along the way. I think gamblers are probably one of the toughest crowds to properly gauge, because maybe the ideal gambler is one that will steadily feed money in every month as their salary comes in, but they really hit the jackpot when big spenders come along and blow it in a short time due to a lack of self restraint. The worst gamblers are the promo hunters or people who argue over every little thing. |
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Starting from a topic started by Ratimov: Why has bitcoin adoption failed in El Salvador? so my inspiration to start this thread suddenly appeared where right now i really am would like to know what you think and expect if your country decides to adopt bitcoin as a legal tender. We all know that El Salvador boldly announced to the world that they adopted bitcoin as a currency as well as legal tender. Many of us agree that this is an expected development, but in the end we can learn from the country [El Salvador] that to achieve successful adoption, the country and its government must also have a good approach and take the right steps. It is clear that this approach will have an impact on the success of the adoption, but so far El Salvador has failed with the adoption because their approach is not as perfect as expected based on the research. Well, if El Salvador is considered to have failed with its bitcoin adoption so far [perhaps they have never failed 100%] then what do you expect if one day your country also decides to adopt bitcoin as a currency and legal tender especially regarding the approach and steps your government should take? Only weak countries that have no influence over their own economic situation have adopted it so far (no offense intended to any El Salvadoreans here). As it was, El Salvador had nothing to lose by adopting a secondary currency because their first currency was the US dollar - which left them at the whim of US government policy. Most competent governments, who pay their debts, have a central bank which seeks to control their own currency to benefit the national interest. They can print more if it is advantageous, or tighten the budget by trying to soak up excess cash if people are spending too frivolously. No country that has a choice will seek to allow it as an official currency, it pretty much a quirky experiment for the one country to do it so far and it hasn't served them much good. |
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It would seem that cockfighting is really just a big thing in the Philippines these days (though I’m assuming there are other western nations also allowing for this to be going on). Those of you who live in the Philippines here, why not try and fighting back? Start protesting, educating fellow countrymen on this sickening and barbaric torture these animals are being put through? I can’t believe whether this gambling “game” is still even being considered by anyone.
Again, as always, if you support this..FUCK YOU!
This is the only decent stance you can take towards any sport that involves harm to animals and making two animals fight against each other to the death is especially sadistic. It is so brutal and barbaric that it echos throughout society at large, most civilized societies have outlawed similar blood sports many centuries ago. How anyone could take pleasure or entertainment from seeing animals in such fear is rather sick in the head. You can tell this case is simply about the fact that the Philippine government cannot control the revenue flow from online games that they have banned it, but they still allow in-country fights because they don't care about the animal welfare side one bit. |
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Machinery / technology / robotics / ai is making you poor
The aim for all producers / businesses is to make their factories fully automated ( meaning to get rid of humans in the manufacturing process )
We are 8 billion people on Earth ,it's impossible for all of us to work for Governments / in Programming or Creativity related jobs.
By next decade we will be even more people do to current crisis as people have nothing to do and they make babies ... lots and lots of baby's .
Stop buying from automated / technological advanced companies ! Buy from companies that work with people and hire people !
It feels like you have a poor grasp of economics and how automation has lifted many people out of poverty in all sorts of ways. No job is safe and society will eventually need a restructuring in order to assure that everyone has a basic standard of living (such as a universal income). However it is foolish to fear automation and doing so only means you will fail to adapt, which people have been doing since the beginning of time. Take farming for example, it used to take many people many days to prepare a field for planting or perform other actions on it, however one farmer can now sit in a tractor that has a programmed route. That frees up all the other workers to do different jobs or other leisure pursuits. It's sad that people have been so brainwashed that they think that working is the only way, when it would be better to live in a world where we can choose to work or spend our time on other things. |
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Anyone experienced or suffered from this, whether from winning or from losing where a particular gambling session keeps staying in your mind and you'll having sleeplessness thinking about that particular session over and over again, the same bet keeps repeating over and over again and you keep asking yourself what if you do the opposite.
I'm glad I overcome this and I see to it now that whenever I'm login off to casinos I'm playing I will not think about it whether I lose or win.
If you are ever having these sorts of thoughts after gambling it's probably best to take a long break from this activity. The only scenario where it might be helpful to do this sort of analysis, usually through an organized and statistical based approach, is when you're playing a game like poker where you might be seeking to approve your play by shutting down poor decisions. If you're in a position where gambling is interrupting your sleep patterns then something is going wrong - either you put too much money into it which you cannot afford, or you do not understand how the laws of probability work within your game of choice. Certain games have a fixed win/lose ratio that you will succumb to over time and other games might have a natural variance that you must learn to tolerate. |
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Hello,
I want to create a company to make individuals invest in cryptos.
Is the following scheme possible ?:
- people send money in a company account
- this money is collectively used to buy a cryptocurrency on an exchange platform
- the company keeps the register of the holdings of each user. There is therefore no wallet (address) per user.
If possible, does this mean that the company is a cryptocurrency custodian on behalf of its customers?
Is there a better scheme?
If anyone can help me understand the best pattern before I get started!
In advance thank you for enlightening a neophyte
Honestly if you are asking these questions you should not be considering launching such a service within the next 5 years and there are already other platforms out there which are dominating this market. Everyone should seek to learn and embrace new knowledge, but it feels like you are so naive on this topic that it will be extremely dangerous for you to be anywhere near the custodian of someones money in the cryptocurrency field. You will need a lot of money and be able to find programmers who are of sufficient quality to produce such a system, without even going into the details of how you would possibly attract new customers. Basically you will need to outsource all the stuff or pay vast amounts to make this a worthwhile endeavor for you. |
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This may explain why russia launched missiles at odesa. To disrupt wheat exportation.
I'm not certain what proportion of european diets are derived from wheat sources. This seems as if it might be bad news.
We have had claims of "apocalyptic" food prices for awhile now. While naysayers claim it will not affect 1st world countries.
If food growers adopted a crypto token which was backed by food commodities and guaranteed a static exchange rate for a set number of tomatos, potatos, per token.
That could be a good format for future food emergencies.
Well.. Russia clearly would want to take the whole Ukrainian coastline if they could, hell - they want the whole of Ukraine right now but are paying a high price for this war. These are secondary effects of the war and are very unlikely to be the main reasoning behind it, especially with all the extra bad will that it brings Russia around the world as they are going to be the major cause of mass starvation. It'd make more sense for profiteering from oil and gas at high prices rather than causing disruption to food supplies. I've said it before, but Europeans are going to be among the last people badly effected by this scenario compared to most of the world, sure prices will rise but the remaining wheat will be sold it the countries that can pay the most for it and Europe is richer compared to most of the world. |
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Gambling have brought me big wins as well as drastic losses. If my entire statistics is calculated this used to be in loss. I've tried different plans to keep me away from Gambling, however I wasn't able to do it. In the beginning I never mind when I experience loss, because I was single and now I have a family. I used to gamble without fear. In recent days whenever I get into gambling I used to experience some changes in my body. Particularly stomach pain and I myself found the difference while gambling and not gambling. When I wasn't gambling I never have such issues and I myself checked Google and diagnosed the below. Does anyone have similar experience. Atleast for my health I need to give up gambling. Irritable bowel syndromeAlso called: IBS, spastic colon People may experience:Pain areas: in the abdomen Pain types: can be recurrent in the abdomen Gastrointestinal: change in bowel habits, constipation, diarrhoea, inability to empty bowels, indigestion, nausea, passing excessive amounts of gas, or urgent need to defecate Abdominal: cramping or discomfort Also common: anxiety, depression, discomfort, loss of appetite, or symptoms alleviated by defecation GoogleI think the big one that is missing from this is the increase in heart rate and blood pressure that comes with being in a stressful environment. That can be very unhealthy, but it usually becomes more controlled if you end up gambling for a long time and you build up a kind of emotional immunity that lowers the effects. People often get addicted to the connected feelings of euphoria from the adrenaline and dopamine rushes that happen, so you need to be really careful because those two things can create the addictive effect. It is part of the habit building behavior and people try to chase that high in later sessions, but the threshold increases over time. |
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Are we witnessing the emergence of the biggest bitcoin antagonist in the cryptospace? I think Sam Bankman-Fried is one of the most intelligent founders in the cryptospace, however, I am starting to be more skeptical about his agenda. In the article, he mentioned that bitcoin may have a future as an asset, a commodity or a store of value. I am scratching my head on what he might be implying in his statement. Is he telling us that bitcoin will not forever be no.1 in market capitalization? Skeptical. I do not know if he is making an honest assessment on bitcoin or if this is the beginning of their new agenda to remove bitcoin from being no.1. Bitcoin has no future as a payments network because of its inefficiency and high environmental costs, according to one of crypto’s most influential chief executives.
Sam Bankman-Fried, founder of the digital asset exchange FTX, said the proof of work system of validating blockchain transactions, which underpins bitcoin, was not capable of scaling up to cope with the millions of transactions that would be needed to make the cryptocurrency an effective means of payment.
“The bitcoin network is not a payments network and it is not a scaling network,” said Bankman-Fried.
But despite his views on bitcoin, Bankman-Fried said he still believed the world’s biggest digital asset had a place in the crypto market.
“I don’t think that means bitcoin has to go,” he said, adding that the token may still have a future as “an asset, a commodity and a store of value” akin to gold.Read in full https://www.ft.com/content/02cad9b8-e2eb-43d4-8c18-2e9d34b443feIt seems like you've jumped to a conclusion without properly understanding what he is saying. Why do you think that Bitcoin acting as a commodity somehow makes it impossible for it to keep the biggest market cap of all cryptocurrency? There is plenty of room for another currency to come along as surpass Bitcoin and he puts out some very good points as to why an improved cryptocurrency could do better. It seems like you're connecting dots in your own mind that were never implied. It's very valid to point out that the Bitcoin network does not scale at at an appropriate level to be able to handle the amount of transactions that existing network provides on an energy efficiency basis. |
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I and many of my friends have our own mantra before and after we gamble, I just discovered this when we have a drinking session we find out that many of us have our own mantra before, while playing and after or even in the middle of playing.
Mine was "This is my lucky day and I'm claiming it" and when in the middle of the game "I need to play money that I can afford to lose".
How about you do you have one and when do you recite it before, while playing or after you gamble.
I think it's important to know roughly the odds and certainly the rules of the game your playing - especially if you walked into a casino and liked to try a bit of everything. If you hop on to a slot machine, maybe knowing whether it's taken a lot in without any payouts can work in your favor. If you're at the blackjack table you better be ready to play a perfect game or you will leak money much faster than you will to the basic house edge. Ultimately it comes back to having fun, unless you're walking into a poker tournament as part of your career then you have to understand that casinos and sportbooks are pretty good at calculating how to take your money, so go with the flow and accept some free drinks along the way. |
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I believe that transaction fees and losing your wallet or getting hacked and not receiving any reimbursement is a serious archilies heel preventing mass adoption for bitcoin.
In many poor countries people use cash as means of payment and no extra fees is levied. If each and every single transaction is levied fees, then people wont spend as much as they spend with cash. I mean if you even transfer from one wallet to another you are leived fees.
The so called lightning network defense is not prudent as in lightning network the sellers ids is being broadcasted to everyone.
bitcoin will only be like gold aka store of value.
Over time Bitcoin fees have come down, as they used to cost a much bigger chunk of every transaction. What you need to do is compare the fees to the existing payment networks and determine how the transaction fees stack up. If you look at things like Visa and Paypal, you are looking at a 3% ish fee and it does seem possible for Bitcoin to get below this at some point if the developers and network continue to make improvements. However I think the real obstacle to adoption, at least via individually controlled wallets, is going to be how long it takes for transactions to be processed. Nobody is going to want to wait around for a long time in a shop as transactions confirm, you can avoid this through an exchange like Coinbase, but then you're just relying on a third party again so might as well stick with existing providers outside of crypto. |
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