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601  Economy / Gambling discussion / Re: Meta's no ads subscription and gambling disorder. on: November 07, 2023, 08:34:25 PM
Before now it was impossible to avoid advertisment on Facebook and Instagram.This has made it impossible for gamblers to avoid advert even when they have used control the ads options. Now Meta is giving users in the EU, EEA and Switzerland the choice to pay a monthly subscription to use Facebook and Instagram  without any ads. This special account can come for as high as €9.99/month on the web or €12.99/month on iOS and Android. Users can get this account this month and enjoy the package  

Although the subscription fees is high to some low income nations but I think it can held to reduce gambling disorderly behaviour. Some gamers are triggered to gamble uncontrollable because of advertisment so this package will help them gamble responsibly. According to a study carried out by Sheffield and Glasgow universities the more people are exposed to betting advertisment the more likely they are to gamble and the greater the risk of them developing a disorder. This package is also helpful because it will make gamblers avoid adverts from many scam casinos that are using these social media as platforms which will also reduce gambling disorder.

What are your thoughts?

It's actually been very easy to avoid any adverts on these platforms for a long time via the many advertising blockers out there which you can install on your browser, without having to pay any sort of subscription. Considering Youtube, after decades, has only just figured out how to block such users it is very unlikely that Facebook and similar have clocked on to it either. I don't use Facebook much, but would imagine that gambling ads are fairly restricted and not really wanted by Facebook, as they draw in too much unnecessary scrutiny from regulators. Things like games with add-ons and upgrades already draw in enough money from susceptible users that they don't need to push the boundaries.
602  Economy / Economics / Re: Worldwide Coupling Between Bitcoin and Electricity Prices on: November 07, 2023, 08:19:26 PM
hey all.
i wrote a short paper discussing the idea of a phenomenon i suspect will occur once the price of bitcoin shoots up considerably.
as the title says (and is the title of the paper as well),
i suspect a very strong correlation between the bitcoin and electricity prices in the future.
that correlation, i think, will start to kick in once the majority of the electricity providers become bitcoin miners as well (as a side hustle at first).

for me, at least, this framework of thinking about the bitcoin miners in the future made me understand much more deeply the 'pompous' (or so i thought) declarations of michael saylor about bitcoin being "monetary energy" and the line he always repeats "all energy will be priced in bitcoin".
i watched many of his talks but he never seemed to explain how that will happen (aside from wishing all governments will suddenly shift from the dollar to bitcoin).

it is a short and simple read and i would like your take on the idea (sorry if someone has wrote of this before, i did not look too hard into it).

note that i did not want to expand the discussion about the bottom line of the paper. that is for a different one.

It's not a new idea but it is certainly good to shine more light on the topic as we saw how serious it got during the last crypto peak. China took the "drastic" action at the time of effectively banning all miners because of the impact that power redirection was having on electricity prices across their country, which had a bit of a domino effect and there were even rumbling in places like the European Parliament that the same action should be taken there. The general public hold the ultimate power if things really get too bad and will force the governments to take action if electricity prices get extortionate again, but crypto is a very easy target for politicians in that scenario so it could happen again.
603  Economy / Gambling discussion / Re: Do you guys believe in other people luck and try to copy them? on: November 06, 2023, 08:44:34 PM
Whenever I am low on cash on the casino I play which includes a sport book I like to copy other people bets,usually parlays with odds over 1000 and I think to myself who cares if I play for example 50 bets copying other people with 200 IDR as my base bet,if any of these guys hits it big I will do to.Notice that I put 1000 as a minimum here but the reality is that I have been copying bets with over 700.000 as odds,I damn love these huge multipliers yet no one has got such one in sport betting.

Of course in here it is not about skill or luck games anymore but it is about destiny,so tell me how many of you are deceived by dreams that may change your destiny like I am  Grin?

"Belief" and "luck" are two sides of the same coin, being rather meaningless when it comes to profitable bets. I've seen a "copy trader" type functionality of a stock platform like etoro and it is an interesting concept, but maybe not one that gambling companies would be interested in replicating. Gambling companies do not want to share and promote the ideas of people who have a consistent track record of making profitable bets, because it means that they would gather large followings which would reduce profitability for the company. It would be interesting if such a platform did exist, however it might be detrimental to the person who is good at selecting bets because it would be monitored and the odds would be reduced against that.
604  Economy / Economics / Re: Cracking the Code of Saving Money... on: November 06, 2023, 08:20:56 PM
We all want to save money, but it's not always easy.
There are so many things that tempt us to spend, unexpected bills that pop up, and it can be hard to make ends meet.
How do you manage to save in a world that encourages spending? Let's talk about it.
Share your ideas, tips, and stories about saving money, and together, we can figure out how to get better at it. (We will also draw valuable lessons from the mistakes and experiences of others.)

The first step for people thinking about saving is to get out of debt, because that's the starting point for so many people. Holding debt while trying to save can often leave you worse off, if you're paying 20% per year on a credit card balance but have a small amount of "savings" earning 5% then you should direct all those funds to bringing down the balance first, otherwise you've just got the illusion of savings that is costing you more. You should target your most expensive debt first and clear that, but possibly consolidate where you can. Increasing your earnings is one way to boost your spending, but you should also occasionally re-evaluate how you are spending money too and cut back on excess until debt is paid off.
605  Economy / Gambling discussion / Re: What's the best advice or should I just let him on: November 06, 2023, 06:15:09 PM
I'd like to ask the community I have a newly moved neighbor he is a widowed senior citizen and he lives alone with a house helper, all his children are now professionals and he is a pensioner, we talked a lot about many things  I just noticed that he is very active on online casinos and other gambling activities like lotto and cock fighting every weekend, his children do not know his activities and I'm afraid he is getting addicted.

Should I give him advice on how to manage his gambling activities or I just let him since he is just enjoying his senior years and doing things that he missed doing when he was still young? and what's the right approach, we all know senior citizens are sensitive to criticism.

You can always make suggestions to someone, however it sounds like the guy is a bit older and by that point in life is less likely to take onboard the opinions of others in matters like this. You might find that he is doing it out of sheer boredom and to pass away some time, but you also don't necessarily know his financial situation to make certain judgements. Maybe he's playing for cents at a time and keeps within sensible boundaries every day. Even if his children were to find out, there may be no influence that they can have over his activities because they cannot be looking after him at all hours of the day. You're unlikely to change his habits, maybe you can steer him towards less expensive gambling or even free pursuits instead.
606  Economy / Economics / Re: Are You Sticking to Your Plan or Has Life Made You Pause or Modify It? on: November 06, 2023, 05:41:01 PM
We often advise newcomers asking about successful Bitcoin investment strategies to have a well-structured plan and stick to it no matter what. Nevertheless if there is anything I have learned is that in bitcoin investment it  is rarely a linear journey. And despite our best intentions and meticulous planning, unforeseen circumstances can disrupt our initial plans. For the community I want to know, has your investment plan always unfolded as expected or have unexpected events caused you to pause or modify your plan? Despite our best efforts there are instances where sticking rigorously to a plan becomes challenging due to the unpredictable nature of life.

Slow and steady wins the race for me. I've tried many different things over the years and have got to the point where I'm happy to build up a portfolio, brick by brick, over a long time period without trying to quadruple my money overnight like some people like to chase. There is a small group that will get lucky in many business related activities and get rich from it, however the majority will fail following that sort of high risk strategy. My advice would be to find a sensible middle ground where you cannot eliminate all risk, but try to quantify it and find a good trade off for decent returns on your money. The main thing is making sure any money you do accumulate is working well for you.
607  Economy / Gambling discussion / Re: Advice for new comers on: November 06, 2023, 05:33:47 PM
What advice do you have for newcomers diving into the world of crypto gambling? Any lessons you learned the hard way that you'd like to share?

The key piece of advice I'd have for newcomers to betting is to maximize your bonuses, as casinos and sportbooks are willing to throw a lot of money at people in the form of one off welcome bonuses - but you might get very little out of them after that point. Read up on all the rules and make sure you understand them, you can try reaching out to the support team if there are any points that you need clarifying in order to maximize your bonuses. Do all that before placing any bets, as you might break a rule or disqualify yourself if you do not follow the offer exactly. Besides that, players should also fully understand the rules and the riskiness of the game that they choose to bet on, because there are all sorts of engineered pitfalls out there.
608  Economy / Economics / Re: Would you rather start/grow a business from scratch or buy an existing business? on: November 05, 2023, 09:16:13 PM
I don't really have much to say as regards to this post. It is just an avenue to hear your thoughts on which is better to invest both time, energy and resources in, mostly for a season as this, where we are experiencing economic uncertainty and ill-timed government banking policies.

So, given that the resources are available or not and you are presented with the opportunity to start/grow or buy an existing business just like Elon Musk, which option is more preferential and benefitial to you?


There are two different skillets employed between buying a pre existing business and building one from the ground up. If you're a specialist on one area, that gains experience over the year, you may be able to identify areas that do not work well from past failures. However you need to be more of a generalist with experience in many different sectors if you wish to be effective at taking over existing businesses, mainly because many people will be trying to scam you or overcharge you during the buying stage - you must make sure you are paying the right price, based on accurate info
609  Economy / Gambling discussion / Re: Should Casinos Sponsor Sites That Deals With Gambling Addiction on: November 05, 2023, 09:09:11 PM
I'm just curious and would like to get the consensus of the community, should casinos sponsor sites that deal with gambling addiction and cure, we can't deny that the gambling addiction percentage is very high in this generation,

I just stumbled one site about gambling addiction it's a free help for those addicted to gambling, there are many more related sites and facilities.
Do you think it is the obligation of casinos online or offline?

It is casinos' way to repay those who put in a lot of money and get addicted or they shouldn't care because it's the gamblers' initiative to play.

Sponsoring definitely seems like the wrong approach in this situation. They should be making a contribution to an independent organizations and have very little say about how that money is utilized. It's a bit derogatory to be honest, seeing them using such safe gambling promotions during their advertising and just gives them a pretense to push their ads to a wider audience. It's a very devious and underhanded way of marketing that should be discouraged. An alternative might be they pay the government who then distribute it fairly and anonymously to such groups.
610  Economy / Economics / Re: AI will put an end to work, says Elon Musk on: November 05, 2023, 10:42:03 AM
During an uncommon interview conducted by UK Prime Minister Rishi Sunak, the tech billionaire Elon Musk predicted that if AI is not regulated, there will be a time when no job will be needed. This means that AI tools would take over the entire work of men making paid jobs become reductant. He even claimed that humanoid robots might be a perfect friend for one of his sons who is having difficulty in having friends. I have always believed that regardless of how sophisticated these AI tools become, they will never replace humans. But hearing this prediction for an individual who has a full understanding of the AI sector is frightening. Elon Musk owns an AI company, xAI, that is competing with big AI firms like OpenAI, Google and Anthropic.

These comments can increase the fear and anxiety workers always had that these super-computers will replace them in future. What are your thoughts regarding the statement by Elon, do you think we should take him seriously?

Elon probably has a greater insight than most when it comes to AI, as he funds a lot of research in the area, however he can by no means predict the future. There is actually a point right now where governments are starting to think about AI restrictions because they could possibly be dangerous if companies are left to develop it alone. AI is already replacing a lot of jobs in subtle and sometimes hard to detect ways, artists for example are losing some work online because they can be replaced by AI created imagery. However he also has his own agendas at play and may be thinking about the commercial benefits that he wants to capture instead of what is greatest for the wider public.
611  Economy / Gambling discussion / Re: Have your own casino. on: November 05, 2023, 10:35:03 AM
How many of you have dreamed about having your casino? Be the house and play the always-win game.

In the past years it was different, people who could build a provably fair engine were able to have their own casino, but now we are playing with new rules, the casinos must have a license and games providers, and that's what people are looking for, and i don't say is something bad, the gambling experience on stake compared with the gambling experience on satoshi bones is enormous.

But getting back into the topic, i would like to read some nice histories from the community, those who only dream about their own casino, and those who make their dreams come true.

It's actually quite hard to establish a casino these days and comes with all sorts of challenges, the main one being security. When you are effectively working in an arena (crypto) that allows criminals to steal money outside of the traditional banking system and potentially launder it in many different ways, then you have to be ultra careful about how you are storing that currency. You are also likely to be targeted by people who will try to extort money from you, in return for not DDOS attacking your website which could effectively run you out of business, so you have to pay for adequate defences against that. Then you can guarantee that pretty much every customer will eventually become disgruntled because you've taken money from them, just an all round headache really.
612  Economy / Economics / Re: USA: 50 years since the beginning of the oil embargo on: November 03, 2023, 11:07:14 PM
https://www.bbc.com/russian/international/2013/10/131016_us_oil_embargo_anno
"October 17, 2023 marks 50 years since the start of the 1973 Arab oil embargo. On the eve of this anniversary, it was announced that the United States is about to become the main producer of oil and gas on the planet, leaving behind the current champions - Russia and Saudi Arabia.

The embargo was declared on October 17, 1973 in response to US President Richard Nixon's order for Operation Nickel Grass, which supplied US weapons to Israel. The latter was at that moment repelling attacks from Egypt and Syria, who intended to return the territories captured by the Israelis during the Six-Day War of 1967."

I think everyone has long forgotten about this story, but after it the United States began to accumulate oil reserves.
The situation in the world is very difficult now, but do you consider repeating such a scenario in 50 years?

We already saw it happen again just a few years ago. When it appears that OPEC was abusing it's stranglehold on the price of oil, America ramped up it's work on fracking and they were forced to bring prices back down again to compete - or even push the fracking industry back out of business. There is a very fine line where they are able to use their vast reserves, up until they make it so uncomfortable that countries start looking to other methods or even extracting it in more difficult ways. The world has come a long way since those days however, with the Middle East holding more power in the equation and having other places that it's possible to sell their oil, like China, but it'll always be at a cheaper price for the foreseeable future.
613  Economy / Gambling discussion / Re: Flip or Trade? What’s The Bigger Gamble? on: November 03, 2023, 10:20:23 PM
Lost in the whirlwind world of day trading? It often feels like a maze with big folks and their flashy tools, leaving us hoping for a stroke of luck. Imagine ditching the tricky charts for a simple, real coin flip, person vs person, with a fair 50/50 chance. No gimmicks, no house edge, just a clear, honest game.

What’s your take? Does day trading seem more of a gamble compared to a straight-up coin flip

I heard from some very clever and in-the-know high level ex-wall street traders that day trading is simply dead. It's not what the experts are trying to do any more, there are simple too many powerful and superfast machines trading out there, that the only people making money this way are people committing insider trading. What the experts are doing is looking for ideas and trades with a minimum 3 month horizon, trying to predict outcomes that are harder to calculate but based on good ideas. Their track record is impressive and definitely much higher chances than a 50/50 coin flip. If you're talking about day trading, on that basis a flip is probably going to bring you better fortune.
614  Economy / Economics / Re: Can Bitcoin help global refugees and migrants to relocate to new countries? on: November 03, 2023, 09:47:51 PM
We are seeing conflict in many countries all over the world and many of these people are fleeing their country of origin, because they are going to war and their local currency and economy are collapsing.

The question is..... Can Bitcoin help these refugees?

We know that Ukrainian Banks closed their doors, when the first bombing started and most Banks do this when there are a possibility of a war. So how do people get their money out of the "Banking" system, when Banks close their doors?

We also know that the Banking system are reluctant to open Bank accounts for foreigners or refugees in the country where they end up.

"In April of this year, Binance Charity launched the first-of-its-kind Binance Refugee Card for all current and new Binance users from Ukraine forced to move to EEA countries as a result of the war with Russia, the card and crypto-based cash assistance helped 15,000 Ukrainian refugees and internally displaced people." - Source : https://www.binance.com/en/feed/post/93305

How can Bitcoin help these people to relocate and continue with their lives in a new country?

1. Brainstorm "safe" methods to convert Fiat to Bitcoin
2. Provide offline and online cold storage solutions to protect their coins.
3. Provide an easy on-ramp to convert Bitcoin to Fiat and the other way around for refugees.
4. Offer reliable and trustworthy P2P services for these vulnerable people, when they arrive in a new country.
5. Keep the transaction fees at these services as low as possible, to give them more money to start a new life.

Let's discuss more ways for Bitcoin to help these vulnerable people, so that we can help them to continue with their lives.... and eventually return to their country of origin.... when the conflict are done.   

Bitcoin is actually very useful for this purpose, even more so when combined with a variety of other platforms and assistance. One of the hardest things any migrant will face is how to move money around when they originate from certain countries and cryptocurrency effectively stops that discrimination by allowing banking anywhere. However they have to be careful about getting ripped off and may be well advised not to carry any indication, or rely on something like a phone, while travelling some rather harsh routes that might result in them losing such a device or it breaking. However it's possible to spread a bitcoin wallet across multiple different drop boxes and reconstruct it later.
615  Economy / Gambling discussion / Re: Stop the self entitlement claims on others gamblers winnings. on: November 02, 2023, 09:38:18 PM
As elucidated in detail on the image the story of a gambler in my country who won a whopping amount of N15.6M  that's about $16,000 and out of his generosity gifted one of the punters a sum of N100k an act which IMO could be referred to as an appreciation for doing nothing.

Getting to X  (twitter) some people started dragging and criticizing the gambler and calling him names, that the N100k he gave to the punters out of N15.5M he had won was too small and that he could have done better. Below in the image  is one of many tweets from the critics.

On the contrary against the critiques some persons where on the side of the gambler saying he the gambler was too magnanimous to have released a N100k as appreciation for someone who did nothing for him or added nothing to his winning bet

It's kind of becoming a norm in the gambling house for people to act with some sort of self-entitement to other gamblers money just because it was money won through gambling. Some even go further to argue that using so little amount to winning so much amount of money you ought to share it with others in a ratio of 60:40. What a nonsense!

IMO, there's no law in gambling mandating that a gambler must share part of his winning with eith friends or fellow gamblers in the gambling house, for that, you owe no one an apology either or not you chose to give a penny whatsoever. Let stop the self entitlement claims towards fellows gamblers that won big amount of money. The attitude is disturbing.

Jealousy between different people is a story as old as humanity itself and is never going to change. There is even good recommendation that if by some miracle you were to win a huge amount on something like the lottery, that you do not share that even with family, as it can heavily affect your relationship due to the sense of entitlement that you talk about. The best thing you can do as a casual observer of it is to discourage it and then simply ignore the kind of people who would beg for money. Also, you must not forget that writers love to generate controversy when writing articles like this because it acts as clickbait and draws in a lot more viewers, so they can even imagine such angles out of thin air.
616  Economy / Economics / Re: What does being rich mean in your perspective? on: November 02, 2023, 09:02:41 PM
It's one of question which differs from person to person. How do you define richness?

To me, I would probably be content with 500k that is probably invested in shares with a bit of liquid cash available in there. That would allow me enough freedom to choose whether to work or not, cover any expenses and gradually pay down the mortgage and cover regular expenses like household bills and even budget holidays. That would be enough to keep me content in life, but I'd probably still go to work just for the challenge and extra social interaction is brings - but not look for anything that is too stressful because it can effect your quality of life negatively. Some people think a million or a hundred million is necessary to be rich, but it's how well you utilize the money you have that counts.
617  Economy / Gambling discussion / Re: Never gamble in front of your kids. on: November 02, 2023, 08:51:32 PM
Hey gamblers' community, hope you're all doing great.
I wanted to convey my message here that gambling in front of our kids may put adverse effects on their growing minds and they may also take the wrong path and start gambling (either by asking you personally for funds or by stealing it in order to fulfill their gambling cravings).

I'm sharing this because I saw this issue with my kiddo who was once watching me gamble at a website playing blackjack and she started asking me more about the game. Then one day, she wanted to play it herself and asked me if she can go for it and I said "no, it's not your legal age to go for such games". So, it's better to keep our kiddos away from gambling and let them focus on their studies, else it'd actually ruin everything for the whole family if the kid takes the wrong path.

Kids can be very impressionable and the more they admire you, the more likely they are to try and copy things you do. There's a reason that gambling is restricted to 18+ out in public in many countries and a large part of the reason is stopping children, who might be more susceptible to falling into addictive habits like gambling, from getting involved too early in life. They already have enough to worry about in a world of loot boxes, pay to play and expensive decorative accessories that are bombarding them with so many games these days. Many kids will also not appreciate or understand the value of money, so are more likely to part with whatever amounts they have access to, so should be spending it on more productive things quite frankly.
618  Economy / Economics / Re: Steam drops support for 2 fiat currencies over their volatlity on: November 01, 2023, 10:00:16 PM
PC Gamer: Valve is dropping local currency support for Turkey and Argentina amid 'exchange rate volatility,' moving to 'regionalized USD pricing' for 25 countries

Quote
"Exchange rate volatility in Argentina and Turkey in recent years has made it hard for game developers to choose appropriate prices for their games and keep them current," Valve explained. "We have heard this loud and clear in our developer meet ups and round table chats. In addition, we have had a hard time keeping Steam payment methods up and running in these countries/territories due to the constant foreign exchange fluctuations, fees, taxes, and logistical issues.

"Pricing games in USD for Steam customers in Argentina and Turkey will help us provide greater stability and consistency for players and partners, while also enabling us to continue to offer a variety of payment methods to Steam users in those countries/territories."

"Volatility" in this case appears to be a polite way of saying that the currencies in question have all but collapsed.

The switch to US currency in Argentina and Turkey will see them included in a new "regionalized USD pricing" bloc that includes 25 countries across two regions, Latin America and Middle East/North Africa. The other countries included in the new pricing regions did not previously have local currency support.

In the past Steam dropped the option of paying with BTC via BitPay because of customer complaints over high fees, delayed transactions and problems with the processor, and Steam never had intention of accepting Bitcoin directly. Now we see that fiat currencies are not immune from getting dumped by global corportations either.

Perhaps when Bitcoin will become stable and LN will be ready for mainstream use, Bitcoin will take its place among the strongest global currencies. But for now the similar argument of price volatility can be used to reject Bitcoin from being adopted by a lot of merchants.

It's a sensible move because some of the currencies out there are such a liability to hold and the governments of these countries do themselves no favors when it comes to trying to stabilize the situation. The leader of Turkey for example, thinks he is some sort of economic guru without realizing it is simply the ingenuity and bare hard work of the average Turkish citizen that has kept his country afloat for so long. He picked arguments with the central bank, which is often meant to be a reasonably independent institution in most developed countries that will sometimes work against the desires of the politicians if it makes better economic sense and effectively undermined the real experts who were trying to dig Turkey out of the mess, it's no wonder fewer countries and companies are choosing to accept the currency.
619  Economy / Gambling discussion / Re: Beginner needs your advices in gambling. on: November 01, 2023, 09:17:22 PM
I’m a new member here, and I want to gamble on online casinos. I found some good trusted casinos. And I want to begin with a game with a low budget. First, I need your suggestions about the best games, slots. Live casino for a beginner.
Do you think Me starting gambling would effect me in my real life or make me addicted to gambling. What’s you suggestion and advices.

As a new user you should think about utilizing the welcome bonuses on offer at each casino / sport book, however you need to fully read the terms and make sure you understand them - so you don't accidentally waste them. For example a common trick is they will only give you a bonus on the first amount you bet, so some people throw this away because they want to get a "feel for the site" at the start. You need to understand that they might claim to offer $500 in free cash for your first deposit, but it can come with some ridiculous strings attached that mean you'll never see a penny of it, so be very wary about these traps. If you have to ask the question about whether you'll get addicted, you should probably steer clear and gain a few more years life experience.
620  Economy / Economics / Re: choose an option on: November 01, 2023, 08:37:32 PM
which would you prefer to receive?
a. $480,000 lottery win as payments spread over 96months(8 years) of $5k a month
b. $480,000 lottery win as payment lumpsum $480k
c. $480,000 of bitcoin at(~$24k/btc buy price recent months allocated to the donator) 20btc
d. $480,000 value house
e. $480,000 value business
f. $480,000 of gold at(~$1.8k/ounce buy price recent months allocated to the donator) 266ounce

pick one and explain your rationale..
if you pick bitcoin as first choice. also pick another and explain rationale of second choice
(im mainly looking to see people opinions/rationale on choices that are made about not option C and compared to C)

I'd definitely go for the lump sum of cash, just because in my country at least there would be no tax on it, but you couldn't say the same if you were American because they get hit heavily for "gambling" related winnings. Option A looks appealing until you realize that the lottery, after inflation, are winning big by spreading it over a longer time period so your winnings will be worth less. The other ones are appealing as well, however cash is king really and if you wanted to be sensible you could diversify into a bunch of those different assets but possibly keep the bulk of your money in a more steady investment like an index fund. It will also depend on how you see the economy of your country and the world going in the next few years whether you want to invest it all.
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