It's normal that guys like him come out with their worse predictions for the bear market. Nobody pays that much attention when we're in bull market and Mike Novogratz comes up and says we're going to 200k, but people get worried when bears say we're going to 1k like they did in 2019. Funny thing is that people who make these predictions often consider themselves "objective traders" and then at 4k they come up with 1k which is 75% drop and that never even gets close to what they were predicting. Tone Vays I'm talking about you

Another funny thing is that these exchanges were doing fine in 2020 when we dropped to 4k in March 2020 but suddenly they're in trouble at 20k? Who's going to believe that? If we were at 3k right now they'd probably all go bankrupt, but so would 99% of people who hold cryptocurrencies. It's not going to happen.

Meditation? Really? How is that going to help? To meditate you have to stop gambling first and sit down in a calm environment where nobody can bother you, with no phones ringing and messengers beeping. How is someone who is gambling at work or in an internet cafe going to find such place? Given that a person is home alone, if that person cannot control gambling urges they will not stop and start meditating. They will sit and play until they run out of money or the computer breaks.

Canada is acting in a very similar way. We all knew about China and how things are there with their full control over people, public executions and constant denial of freedoms, but I used to think that Australia and Canada are democracies.

As for the self exclusion it makes not much sense because they clearly state that it's going to be forced upon Australian casinos. What about those situated abroad? How is that going to stop people from gambling? IMO nobody forces anyone to gamble. If they want to do it they will and no additional options and boxes to tick will stop them.

There was a lot about bitcoin in the media after the MtGox collapse and bans in China so I looked it up because if governments are banning it and people think it's in a bear market this might be the thing to get involved with. I went through all the stages. Tried cloud mining, trading, gambling, investing, staking, you name it. After all of it, buying and holding bitcoin is the way to go. I still hold some of those cheap bitcoins that I got for a few hundred $.

The correlation is due to the fact that Wall street and banks entered the market.

Back in the day people had to buy bitcoin or mine it to be able to sell it. Now they can trade with borrowed money and banks moved in, like when we had that strange case of Jamie Dimon criticizing bitcoin and saying that he'd fire anyone who's caught trading bitcoin and then we heard that they set up a bitcoin trading desk in his bank and that his daughter owns bitcoin... When these guys invest they play around with the balance sheets, they take loans and the money they can invest depends on how much the fed allows them to have. It depends on whether people deposit and save up, or spend a lot.

Then we had covid and lockdowns. People weren't spending much because they simply couldn't go to concerts, gyms, they couldn't travel, so they were saving up, scared of possible pandemic. The governments printed money to give out stimulus packages all around the world. Then lockdowns were lifted, suddenly the covid threat wasn't high anymore, so everybody began to spend and that's where inflation hit its all time high, wall street loans skyrocketed in value and they were forced to sell assets to cover them. You know the rest.

Hopefully they are out already and won't have any coins to sell after the next FED meeting. Eventually they will be out and bitcoin will no longer follow indexes.

WHY?

Ethereum, on the other hand, comes with several unique perks. For starters, the transaction speed on the Ethereum platform is much higher. The network can handle double Bitcoin's transactions in a second, which makes a difference when talking about large transfers.

Secondly, Ethereum is more than a payment system; it's a computer network for smart contracts. With Ethereum, you can create decentralized apps or dApps.

This is where things get really interesting.

Dapps can give you a whole new gambling experience. Imagine a casino that runs on the blockchain, and that's provably fair. That's what Dapps can




So, you are thinking about switchjing to ETH because transaction speed is higher and there's provably fair system? The same system works with bitcoin, so you'd choose ETH casinos only because your payment gets there a few minutes faster?

Also, BTC fees are 1.3 USD on average, but they sometimes skyrocket to... 3USD. ETH fees on the other hand can jump to 10USD or more.

THe article is pretty bad at persuading people to use ETH casinos.

He's a good man after all if he wants to pay back the money he gambled away.

HO many of you would in all honesty give back so much money if you got it by mistake. It's easy to say it now and criticize the guy because you are not in his shoes. We all criticize people who made mistakes, but once in a while we do the same thing and become the victims of hate

Shill thread

Anyway, I'll answer the question. Like it was already mentioned, OP is wrong about excitement being the driving factor here. He's right about the popularity of cryptocurrencies in the gambling market. This is becoming a huge industry, but manly due to anonymity, the ability to circumvent local laws. Also, people can earn crypto outside of their job and it never goes through their bank account which for many people is a big deal. The spouse doesn't know that you're gambling, the tax office or your employer don't know either. If you win money it's yours to keep.

Nobody will tell you that because many things depend on people's decisions. If the US government continues to destroy the stock market, we will have a crash and a recession.
Does it mean bitcoin will crash? Again, we don't  know because bitcoin is already below 200 WMA and it already was below the level of miner capitulation. It doesn't have much crashing space left at over -70% from the top.

My opinion is that if stocks keep crashing bitcoin will be crashing less because it already did a hard correction. It became more oversold than it ever was. People were anticipating the worst and whoever was considering selling with a loss did it 2 weeks ago. Eventually people will start to move their money from other assets into cheap bitcoin that at 20k USD has a much greater potential to go up than most stocks.

A platform that claims to be able to do something for you and make you money is always a scam of some kind. We had so much of this. Like there were cloud mining platforms, bitcoin multipliers, sites that were hacking blockchain and giving you some of the coins from every transaction sent by other people... Nowadays there are youtube giveaways where Vitalik or Elon are giving you free coins, you just have to send them some of your coins and you'll get more back. Let's not forget about those sites that mine for you or generate passive income, but you have to buy upgrades for the site to do it faster.

If it was possible to keep trading with consistent success, all those traders would be sitting on their asses and trading 24/7 instead of trying to sell you their tips, portfolios and self-improvement courses.

There were campaigns that at some point were paying ridiculously high rates when compared to when they started.
For instance, Yolodice. In January and February of 2021, the campaign was paying 800 USD a month if we count the average price in those months at 35k USD, but that was after they lowered the rates.
Until the end of December 2020 they were paying 0.014 BTC a week @20k USD per coin, which was 280 a week (1120 USD a month!).
According to the OP the pay rates at the time were between $100 and $360 a month.

Here's a spreadsheet if someone wants to verify.
https://docs.google.com/spreadsheets/d/1AaoYn8hm0KV7NQm_f4UNJylN4lxa65rdNpDquhxWz4w/edit#gid=1488910859

And I saw both a bankrupt banker and a bankrupt casino. In case of a bank, maybe you've heard about the famous Lehman Brothers?

There's also many casinos that were advertising on this forum and became scams because it was a faster way of making money than simply being honest to your customers.
There are even some shady businesses in here now like 1xbit.


It's the same with investments. People are up 4x on their Bitcoin bit never take any profit until it goes down and they lose money. I'm also guilty of that. The more you want to win the more you lose.

I feel like this question is impossible to answer like many similar ones. For instance, can you trust a former convict, can you trust a drug addict, can you trust a former thief, can you trust your former girlfriend who cheated on you...?
Some will still be stealing and cheating, some will not. A thief who stole once doesn't have to be a thief all his life. People change. A gambler can still be a good worker, or he can be stealing from his boss, you can never know for sure.

Incredible. I rarely see people willing to sell their identity for a promise of safety.


+1. That's the only way to go in my opinion. Bonuses are not much of a price to pay for anonymity. People who think otherwise don't know the value of their private data.
I'd of course choose to sacrifice almost anything. All bonuses, referrals, everything. I'd even prefer higher fees with anonymity than lower without it. It's the same with exchanges and everything else for me.

Although this is a completely useless knowledge, It's a good reminder of how much 1 bitcoin really is. It gives you a sense of perspective.


True, although nobody is going to play around saving 1 sat every day. That would require you to be a psychopath. A maniac of some sort Although, it's pretty close to what those people who make a selfie every day and then after 3 or 5 years put all the photos together to see how they were changing over the years. Seeing how much you've made in 3 years by saving a just 1 cent a day might be worth it if you're into projects and such.

Same thing about quantum computing we've been discussing for at least 3 years now. Again, do your own research before you start panicking about sha 256 not being enough to protect your investment.

People keep talking about quantum computers but there's actually no proof of their ability to break existing banking encryption. What's there to stop these scientists from breaking into the federal reserve just to show they can? I think we'll hear about real uses of quantum computing long before someone teaches these computers how to break bitcoin's encryption.

You can check out the significance of that move by looking at the chart here: https://www.blockchain.com/charts/hash-rate

You can see there was not much of a downfall before January 2021. The hash rate kept going up to reach an all time high this May . It's rather the price trend that's affecting the mining business. The more valuable Bitcoin is, the more profitable it is to mine it. You can see that there was a sharp drop this month when Bitcoin took a dive and we went below the level of miner capitulation. It's like they started to shut down some of the least profitable equipment when they went too much into the red.

Governments overreacted and showed that they have no idea what to do in case of emergency. There was actually very little deaths compared to the measures they took to prevent them like full lockdowns in China where people were starving and couldn't go out to get food, despite being healthy. They were blindly putting people in house arrests when a few sick popped out in the area.
All countries that did these lockdowns are now suffering from first signs of stagflation. On top of that we got that idiot Putin murdering people and destroying food to starve Ukraine. He couldn't have chosen a worse moment.

For me it was always more painful when Bitcoin pumped because I could remember all the money that I've wasted and kept thinking about the things I'd be able to buy now that I'd have 5 times more without having to take the risk. It's actually amazing how much every small move that we make can affect our future, like the decision to roll the dice. You think you're winning or losing $1000 but you could in 10 years see that at that time you were winning or losing a million.

Your tips are pretty good OP and well known by people who are fighting addiction for some time. I feel like the most important part is not to be alone with it. Have people who are trying to help you, watch you, support you while you're fighting it. It's even better if you have a friend who is a former addict that made it through. A bit of strong will wouldn't be a bad thing either.
My mother was a smoker and she had a friend who was also trying to quit and they managed to do it together by watching each other. Each of them did not want to be the weaker one who breaks first so none of them did. They made it into a competition and it worked.