I am curious. How many of you also stack gold and silver in addition to BTC as a hedge for inflation?
I think I speak for everyone when I say that a majority of people in this forum, save for the newbs, I guess, holds some gold or silver on their stash. Robert Kiyosaki, a guy that I always depend on financial advice with, primarily because of his book rich dad poor dad that really helped open my eyes to financial literacy, has only praises to say about bitcoin, gold, and silver on his twitter account. Not that I'm a blind follower of his, but rarely does he fail when it comes to advising his followers on which assets to invest in. Anyways, yes I do hold a couple of silver and gold physically, I use them as part of my wardrobe too because for me gold becomes more valuable when it has history with it. |
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I have a friend who started investing in crypto as early as 2015, when few people know what bitcoin is. He banked on the infancy of the industry and cashed in big when bitcoin broke out and went to the moon. Now under normal circumstances everyone who got a taste of that kind of success will simply ball out until they lose all their investments on booze, girls, and things that hold no value, but this man made sure he wouldn't go that way, he learned financial literacy, surrounded himself with people that are worthy of his time, and expanded all his avenues to make sure he's not stagnated to one knowledge base/skillset.
Is it possible to achieve financial success in crypto? Yes. Millions of people owe their success to crypto. But what sets them apart from those who really succeeded is discipline and financial literacy.
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One of the biggest mistake someone who had opportunities to increase their salary potential is leaving one for the other because "my side hustle pays enough anyway". It don't. Taking away one of your income avenues is like breaking one of your own knees. Sure you'd be able to walk, but not as easy as back then. I would highly suggest you keep working on your current 9-5, perfect and expand upon your passive income until it completely goes above your 9-5 salary, learn financial literacy and other important economic things that you would have to learn in order to become effective with your own money, and only by then can you allow yourself to leave your old job. Nowadays, the bitter truth is that it's much better to get sick working than be healthy while unemployed, at least that's the truth for me based on experience.
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As a rule of thumb in our household, we tend to keep a good stock of non-perishable goods in the cupboard like cup ramen, canned goods, and things that don't get bad so easily, as well as buy rice in bulk, so we don't have to go to trips to the store as much as possible, and we always stock up especially when there's extra money. We have also started cultivating our own veggies which isn't that much but it has helped us a ton from taking trips to our local produce market, as well as deal with the apparent lack of fresh vegetables. Food shortages shouldn't even happen in theory but we gotta deal with it somehow. Ultimately, we really have to deal with all this bs, and the ones that suffer the most are the people who aren't that affluent to be able to handle things like these.
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Pinch to zoom is a thing but nothing beats the convenience brought by a large screen courtesy of a desktop monitor. I have been gambling for quite a while and have been a gamer for the most of my life, I have always appreciated the large screens of desktop, especially when I gamble. Although when I want to play on the go, like let's say in a subway or on a bus, I can always gamble using my phone. Basically, I would almost always gamble on a pc if I can help it. But if the situation calls for it, I will accept being able to play on a phone, thanks to its portability and the fact that it can pretty much run most sites that I visit for gambling.
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If you'd be teaching your kid about bitcoin, It's best to teach them first about Financial Literacy, or at most focus on that. Bitcoin as much as we hate to admit is not eternal and may be succeeded by a cryptocurrency in the future or a store of value that puts much more emphasis on the things that we need, but financial literacy will remain king in any day and age. Teach your kids to know how money works, and how to save and be ready for when they can't work their asses off anymore, don't exclusively teach them about stuff that will be a thing of the past, unless you want them to be crypto historians. Then again that's just my two-cents. I know teaching kids about bitcoin is not in vain and is well-meaning, but teaching them about financial literacy first is paramount.
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If this isn't some extreme form of holding, I wonder what it is then. According to the Twitter handle of Bitcoin Archive, 412Bitcoin worth $9.6m was moved from an address that was dormant for 11years. That means the owner just bought and "forgot" it there. While for some of us who have been holding for the past 3 months, it's seems like a century.This is gentle nudge that if someone has done it then you can(that is, if this is your goal). How long do you think you can hold? To be fair, I think he would've just sold it if he knew it was there to begin with. My inference is that he completely forgot he had bitcoin holdings and thus commencing this 11 year prop hunt with no whistles. Or perhaps he really is just waiting for 11 years due to some time lock on his wallet or something along those lines but that is implausible, same with him just outrightly waiting til 11 years has passed, when he could've just opened his stash a couple years prior when bitcoin is at an all time high and he could bag more millions. |
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in fact, as time goes by, you can be sure that more and more people will adopt bitcoin because the name bitcoin has spread throughout the world, even if someone accepts it or not,
but the adoption rate of bitcoin is increasing due to news on social media and so on. then you can be sure that the number of people adopting bitcoin will increase, so it's no wonder that many people are investing in bitcoin for the long term because many predict that bitcoin adopters will increase.
I mean, that's what adoption is literally. Bitcoin being used on a much larger scale because more people are becoming aware of its features and benefits. Can't get any simpler than that. News and Social Media does a little good for bitcoin, but for the most part they would most likely trash upon it every chance they get. What works best is still word of mouth, and it could be executed in multitudes of ways. Seminars, Meetings, announcements, all that stuff. |
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With high volatility rates and sky-high fees in when transactions are surging? I don't think so. Small businesses most especially will be the ones to suffer the most if they try implementing cryptocurrency payments. That's going to be another payment channel you will have to declare and maintain in your taxes, plus not a lot of people are into cryptocurrencies. Although most of these issues could be solved nowadays with a little coding so you can easily relate your price for products/services to the current price of bitcoin, I still don't think it's a wise move. As a gimmick yes bitcoin payments or crypto payments could work, but focusing on it will just be a waste of time, at least for me.
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I felt like seeing a movie and opened my streaming app (Netflix) to make a selection of a movie to see and I became confused which to select because of the many choices that I saw. I immediately had this thought that it is the same way people who have the interest of investing in cryptocurrency become confused the one to invest in when they find out that there is bitcoin and many other altcoins. Many people become confused and make mistakes because of the many options they have in cryptocurrency, they fail to invest in bitcoins because they think that there are many other very good options. Do you agree that more people will choose to invest in bitcoins if there were not so many cryptocurrency choices although not all are good?
Your analogy is sound but the way you made use of it is wrong. You are supposing as if bitcoin has the same amount of popularity and acclaim as any other altcoin in the market, which let's face it, is not true. Bitcoin is the top dog in the market since Day 1, and that will never change. The way you used your analogy sounded like I could confuse Stranger Things on Netflix with any other show in there which is just not the case. Even newbies know the difference between investing in bitcoin and investing on a god-knows-what coin, so it doesn't make sense to confuse bitcoin for other cryptocurrencies just because there's a sea of them now. |
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I would love us to share this idea, I have it in mind to introduce Bitcoin to the people around me, but I wish to ask, how do I go about it,
Do you think it will be of advantage or disadvantage to my community?
There's a plethora of choices to go for when you want to sell bitcoin's idea to the public. I find that the most effective way of letting people know about Bitcoin is through incentivized seminars. For instance, a guy from this forum set up a seminar about bitcoin and its benefits for his community's housewives, given the fact that these members are the ones responsible for managing money in the household. It was a success, and I only wished he gave those people a reason to come back by maybe giving them awesome trinkets that relate to bitcoin and have them follow up on him about their progress. That being said, I think it will serve you well if you do the same. If you have a knack for speaking in public, or you know someone who does, this is the perfect and the most efficient way of letting people know about bitcoin. |
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I haven't tried to stop but because it's not a problem for me. I play little, with low amounts, being aware that the odds are against me, and always with money I can afford to lose. I take it as an entertainment expense, with the difference that from time to time I come out with more money than I put in.
So, I don't have to set out to stop, and in fact, there are seasons when I don't gamble, simply because I don't feel like it or because I'm busy and don't even think about it.
Well, if this is your attitude towards gambling, I guess even if you keep on losing your money, that won’t be a problem because you are just gambling for fun, and not to gain serious amount of money. But honestly, even if I’m aware that the odds are against me, I’m still gambling for profits, not just for fun alone. The reason why I keep trying my luck especially in lottery, because once you end up hitting the lucky numbers, that will eventually change your life as the jackpot prize amount is certainly huge. But I want to ask if you're well aware that you have a higher chance of getting struck by lightning, or be hit by an asteroid directly than win the Lottery. If you're banking on the fact that you might win it someday just because some people did, you're going to end up dying trying to win than winning it. But whatever, to each their own I guess. As in the case with gambling for fun, for me you don't outright relinquish the fact that you may gain profits when you gamble, it's just that the mindset is not set with winning the games but rather having fun while you are playing, so when you lose games, it doesn't take as much mental stress, and when you do win, it's much easier to relish upon. |
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I'd be lying if I say I'm here solely because of the future implications in tech and whatnot. Bitcoin is so much more than your standalone future currency that we can use to trade and commerce no matter how far. Bitcoin as it stands today is one of the most profitable ventures out there and has helped millions of people around the world to gain their financial freedom, myself included. So I owe a lot to bitcoin and have continued to be interested in it for a multitude of reasons. But the primary factor that drives me to stay in this industry is the profitability. There's a lot of things and ventures to profit from here, not just trading. All you need to know is that Bitcoin is our future.
That is severely useless. OP is out here asking for constructive and informative content. It wouldn't hurt to elaborate on what makes you think bitcoin is the future wouldn't it? |
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I stumbled upon this interesting tweet days ago.  https://twitter.com/SchrodingrsBrat/status/1622320014215856128?cxt=HHwWgIC-9aPd0YMtAAAAMany of the comments are equally interesting. They apply the idea to all kinds of things including the game Resident Evil. And then I thought perhaps this is also true in the economic aspect of life. Perhaps this aptly applies to those whose economic lives are like the desert and whose little money they have they keep tightly for the hardest of days. When I was studying in the university far from family and relatives or even family friends, I had a difficult time. Money is extremely scarce. Early mornings are usually for hot drinks-- coffee, chocolate, milk, tea, or whatever. I realized that what made those drinks important is that they are hot. So I learned to drink only a hot cup of water which I could easily ask for free from the eatery in front of where I stayed. Come meal time, I would also request that the serving be made in half. That's to save money. But I had the money. I always made sure I have some. Emergencies and unforeseen expenses may arise anytime. So I need to have money all the time, but I won't touch it. Ironically, it also gave me hunger, inconvenience, discomfort at times. My story is rather uninteresting, but let me know yours. Does this idea also apply to you? You could have the money to buy a new car to replace your old and broken one but you prefer not to touch it. Do you hold yourself from spending what you have to the point of depriving yourself of what you deserve? Do you keep significant savings for occasions that might only happen in your imagination? Or at what point would you allow yourself to be drained of your last penny? It surely applied to me at one point, especially the same as your situation OP. Back then funds aren't as easy to come as when you're employed, given the fact that I was forced to study only to "focus more" on getting that degree. That being said it made me very stingy of the very little money I get every week. The very little money I have however, is spent on things that are of value to me. Things that I know would help me later down the line, so in essence it's not really untouchable money. But during the time and the eventuality of me saving money, I'd find myself thinking that I'd rather save than starve the next day, I only ever really stopped when I realized it's causing some huge detriments on my health too. One thing that I'd just like to put out as a rule of thumb for people out here who are in the same spot. The money you save by jeopardizing your health and your well-being will be gone when you have to pay for hospital bills. So it's fine if you couldn't save for now, health is wealth as they say. |
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I think this thread's supposed to be in the Gambling Discussion. But I digress.
Gambler's especially those that are impoverished, gamble because they want to get out of poverty and live that lavish life. The connection between lack of savings and gambling is a stretch if you'll ask me. It's like saying why are poor people gambling?
Moreover, gambling in a poor man's eye isn't a form of entertainment, it's an avenue to get rich quick without taking the grueling path of working yourself to death for financial freedom, which I can get behind since who doesn't want a few million bucks on their bank account just because you're lucky that you guessed the right numbers yeah? But it all comes full circle. it basically warrants the fact that most marginalized gamblers will not have savings, not because they are dumbfucks who aren't financially literate enough to save money for their future, but because they would rather focus on making sure they don't starve to death, before putting up money for savings and investment.
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I'm using Opera browser for quite long time. Suddenly came across the tab Crypto Wallet. This was something unexpected and going through it, we were able to see the option available to create our own wallet. Have anyone came across Web browsers having Crypto Wallet other than Opera and Brave browser. Are these wallets safe? This feature has been added to their browsers for quite some time already. I myself use Opera GX on my gaming computer for everything, and I started using that browser in 2020. I have never used that feature because I'm skeptical even up to this day and have only ever used Metamask for everything crypto, as well as SegWit. As far as I know browser-type programs like Opera GX's crypto wallets are prone to abuses from hackers. which made me even more distant with the feature. I can see the intent and I can never be more happier that such feature exists, further indicating that the cryptocurrency industry is much more visible from the outside world than we were told to expect, but as veteran enthusiasts, I think we know more than enough to stay away from stuff like that to avoid getting hacked and losing all our important cryptocurrencies. |
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I saw a meme back then on twitter where the guy's literally shaking with dedication every time he wants to gamble. Some random guy subtweeted him saying that he's addicted or something along the lines. Now this at first glance is just a harmless jab at how in denial some people who are afflicted with gambling addiction are. But honestly it's also a good statement against these people, a little wake up call if you will. Sucks that they are the last to know that they're in too deep to. But if you suspect yourself of being addicted to gambling already, watch out for these signs: - Uncontrollable/Intrusive urge to gamble. You feel like you're at loss when you don't gamble for that particular day
- Dwindling savings and worsening financial situation. Most gamblers find themselves sweeping off their savings, and sometimes even taking out loans to fund their addiction. If you find yourself spending more than what you normally would, you should check yourself.
- You found other things to be addicted to as well. Smoking, Drinking, all of these forms of leisure, if you've picked these things up from the Casino or from the stress of losing tons of money from gambling, it's often a good indicator that something is already wrong.
Aforementioned meme here: https://img.ifunny.co/images/518ebb6c12f3aae4b22c2be21bce9b7b06beab6b607618d20096e4672e4e3b43_1.jpg |
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ChatGPT is all the rage at the moment. I’ve seen that people are asking it to predict sporting events. Would you leave gambling decisions up to artificial intelligence? Do you see any potential drawbacks for outsourcing your bets to a software program? Has anyone here tried this yet? Do we need someone to put together a thread of ChatGPT predictions to see how accurate they are? Any other thoughts?
Def no, bots or AI use all data available at the moment to predict the result of the game, but as players are only humans (although highly professional ones) they make errors, they can suffer an injury, withdraw, lose temper and many other things which cannot be predicted by a machine, no matter how perfect. behavior data like that as far as I know can be collected by AI and be used for future reference actually. Small stuff that may not appear big to us like our slightest temper tantrums or whatnot, when taken by an AI, can help it predict our next move. Granted ChatGPT is not that advanced for it to be able to perform feats like this but AI as a whole, is able to do stuff like this even as early as 2014. Predictive Policing, Heat List, all of these use behavioral data, as well as data of other types to determine whether someone could commit a crime in a certain area or not. So it would be unwise really if we are to lowball how big of a chokehold AI already has over us. |
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