There's a discussion here about a call to make it mandatory for gambling sites to show proof of money they are holding in reserves because of what happened on FTX. Running a casino during crypto crash - Do you think The Gambling Industry Is Part Of The Domino Effect That Happens In The Market? - Will the industry lose the trust of gamblers if one or two casinos scammed their players by closing down and running with what money they have that belongs to the gamblers? - As a gambler do you use gambling sites to store your coins like what traders are doing on exchanges? - What would gamblers think if a casino does not agree to show proof of money from new and old casinos Definitely not, people here are just escalating what happened and are generalizing in this industry. Well, it is indeed better to prevent than to cure it once things are late but if you'd be worried of everything, it qould be better for you to leave I guess? This industry in the first place is risky. The moment you've invested in any form, expect that there is a higher tendency for losses to occur. Problem with what happened is that there is negligence, on the part of the owners of the exchanger. So now, people are demanding for gambling sites to show their Balance to give players assurance. It would be fine if casinos would also do so, but if not we cannot blame them;it is a running business as well. So if you're that worried then wait for casinos who'd show theirs, for your peace of mind. |
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Hello guys, as an attempt to protect new or old users on this forum , I think its mandatory for gambling sites to show proof of money they are holding in reserves .
for me actually it doesn't really matter (for me). because a gambling platform site that already has a good reputation, there is no need to doubt how much reserve fund they keep. maybe he is referring to the new sites , to broadcast their funds before starting a business . they are truly good site specially those who we are playing but those new one? they are the one in question here. maybe you can see from one of the gambling websites that are able to pay for every ad they display at any time and gambling parties are able to pay 1-2 BTC just to pay for advertisements. so there is no need to doubt how much reserve fund they have.
Ps : don't equate a gambling platform with an exchange like FTX
remember that there are also sites that spending even more than 1-2 bitcoin but a proven scammer. Even old gambling sites with good reputation are at risk of bankruptcy if owners would be negligent with the casinos fund. If casinos would offer to show theirs with proofs then they are free to do som As other have mentioned, people are worried because of what happened recently. But I think casinos should not be mandated to do so. Those are confidential in the first place. If it is just assurance, casinos should more pushed a waiver or contract between house and players upon registration or after each deposit which will make it balance to both parties if ever something unexpected will happen to their money, depending who's at fault or such. |
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So about a week ago someone sent something to my coinbase wallet ethereum address via the polygon network. I got a message saying i had received 10 cookies. I was confused so i went into my wallet. Things immediately felt a little different. There was a different wallet picture in the corner that said wallet one. The app asked me for my code in weird spots. I never put my code in. I could bypass it with the back button. There they were, 10 cookies sitting in my wallet. Not sure what i should do with them, or even what they are. Not even really sure if their malicious or not. Just weird. I guess i could send them back to the sender. Im not really concerned about my funds at this point. Im more concerned that something like this can happen to an address without fault of the owner. You dont have to click a link, they just show up. Are all ethereum based addresses at risk? Suggestions or any insight into this would be helpful. This exceeds my scope of computer knowledge. Thank you in advance computer ninjas  Be wary of the tokens sent to our wallet, usually it is a scam project, they direct us to the website and then ask us to connect the wallet, if we follow them, they have recorded the private key and the assets we have stored are immediately lost, this is normal, as long as the token is not worth it then better ignore it. Problem is the belief of easy money or free tokens. There are indeed air drops but atleast, there is a process with that and as well, community you could ask informations from. Those investors or users who are easily being fooled by these scam projects might not be aware of the risks giving informations that may link their wallets into that particular site. If something is unrealistic or 'fishy' avoid engaging into it. There are comminties such as this one wherein clarification won't be expensive. It will just cost you time asking, but not any amount such as losing your assets when you got scammed. Be vigilant as well to help those who are at risk of losing assets, everyone should share their opinion if it would help someone. |
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while there was a lot of evidence that it was his wallet address and this time probably won't be good news, I have a hunch.
As long as it wasn't confirmed by vitalik himself, it is a bit hard to validate. I guess that's just a babbler. If the statements of these people won't be specific enough, then they might just be creating a 'wave' and confusion to investors. "something important to happen" is a vague statement. It could also be that he wants to make a community under his name like with Elon and other huge names in this industry. At the end of the day, a statement is just a statement. Well it could create an indirect effect to this industry given that they have the 'image' but as long as statement is indirect, it would be sketchy to make a move about it. |
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OP missed the most important point and that is the amount of jobs that bitcoin has provided over the years.
All of us would have missed these opportunities to make an income.
Bitcoin has enabled us to become financially independent and without it many of us would have been in the rat race.
I would say that signature campaigns on this forum have been going on in a steady rate paying in Bitcoin. But freelancing on Bitcoin would be the next "job" on Bitcoin while getting monthly salary on Bitcoin is rare. This from your point of view might be a type of bias but still there needs to be more jobs of Bitcoin, the number is still low. Financially you cannot be independent so easily. Your job is there because someone is employing you and you are dependent on them. How you manage your money is the important thing. In fact, I haven't seen any other work being paid in bitcoin other than the signature campaign. So I don't think bitcoin provide a huge number of jobs for society and once you have paid work it cannot be called financial freedom, participating in the signature campaign, we also depend on the project owners as well as the managers. But if investing in bitcoin to achieve financial independence, I believe it and I have seen many people change their lives by investing in bitcoin, so to speak, they are financially free. The number might not be huge but it surely is considerable. When I say bitcoin has provided jobs I don't specifically mean signature campaigns. There are many other things such as freelancing jobs and accept payment in bitcoin, development jobs in other projects that pay in bitcoin as well as native tokens, providing services and accepting bitcoin, being paid in bitcoin by the bitcoin core dev group etc... Basically, all those things which bitcoin has helped us in earning money contributes to one step closer to our financial freedom. If you say that the crypto industry is helping a lot of people with well-paying jobs or directing them to financial freedom then I really agree with you. I have seen a lot of people have success when they get into crypto, not only as an investment but the industry also provides a significant amount of employment to society. But that's not quite true when it comes to bitcoin alone, to be honest, I haven't seen too many jobs that pay in bitcoin. Currently bitcoin is seen only as a good investment, a store of wealth. Other than profit from crypto industry, there's nothing more that it affects the world. Bitcoin is still not being used as a mode of payment because it is more preferred to be used as an asset to generate profit. Well some did use this technology with transactions but I doubt they use it on a regular basis. Let's be real. This technology is amazing indeed but many people are still living without it because these are just alternative currencies at the present. An individual may not or may have an amount of it but it is not a requirement. People may be involved with this industry and may not. We have freedom of choice. There's no need to gaslight its importance that much. |
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You should have attached his tweet with your post to make it more interesting.
But that is needless to say although names of such has a huge impact with demand-based assets such as cryptocurrencies or Bitcoin to be more specific. Anyone can say the same thing but only few could really put weigh on such statement. As he have mentioned, Bitcoin will but don't expect for an instant increase. On its application, those who could wait should hold because there might be months more before we see a clear sign of recovery. But at the end of the day, elon musk does not carry the fate of this industry, things might change so you choose what to do.
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When will Sam Bankman-Fried go to jail? Do Kwon is in jail? no, he is not! And I guess that Sam won't go to jail either. ~
What's wrong is that one crook has stolen honest people's money to make shady investments. The problem is also with the honest people, why do they trust the exchanges so much, and why do they hold all their funds there. Exchanges are for buying/selling not for holding. Definitely he won't. First reason is those who will be filing a case not only to Sam but also to owners of the said exchanger. This is blockchain,it would be hard for authorities to find the authenticity of the claimants or those who would file the case. We've seen many of these over years. There are many scam projects, tokens and the likes but why are there no convicted (if there are, probably a few). This is because this technology is separated from states still since no regularization still is happening. So I do also think that those who are really accountable for this would go to jail. There would be a lot of procedures, think of how many users were affected. |
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This is due to what happened right? I think there's no need for exchangers to show their proof of reserve to their users. What I'm thinking is agreement between exchangers and users that one's negligence has a counterpart;if it is the fault of exchanger, it should pay the losses of the user but if it is user's negligence with regards to his profit loss, exchangers has nothing to do with it. Quite one sided on impression right? but users doesn't need to pay the exchangers unless they would complain of something and if it is proven user negligence, that would be the time they should pay the exchangers. In this case there would be more sense of responsibility with each assets. In terms of land based banks, there's an agreement that no matter what, they should pay atleast half of the users' asset if they'd be on bankruptcy; this is the idea I am trying to point out.
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I cant post pictures yet on this forum. But I will try to explain bitcoin indicators that i use
Yes i buy BITCOIN when is normaly in accomulate phase like we are now
1 Price forcast matric is almost at the bottom. Bottom is close, but not in yet
2 Monthly BITCOIN fear index wish to say we hit the bottom
3 Monthly RSI is at lowest level ever. Sign we alredy hit the bottom
4 Real BITCOIN dominance is closer to the bottom of this cycle (60%). Top dominance was 85% in 2019( after 2016). I dont expect we hit 85% again, but we are much more away from this levels.. So I see more potential to buy BITCOIN now than altcoins
5 Puel Multiple index was very close to the bottom. Bottom is not in, but we are close!
6 RHOLD ratio tell us bottom is in or very close.
7 Reserve risk is all time low. This is sign that bottom is potentialy in!
8 MVRV index is close to the bottom. Index wish to say that the bottom is still not in
9 ETH+BTC dominance is moving around the bottom in this cycle. Indicator that advice not to buy random altcoins now
10 Long term holders are stong as never before. BITCOIN belivers never had so strong hands ever before. BITCOIN is close to the bottom. This indicator cant predict how close to the bottom we are.
11 We spend several months unde 200 weekly simple moving average. We tached also 300 weekly simple moving yestrday (like in previose cycle). Potentialy this indicate that bottom is in! Potentialy we could hit 400 weekly simple moving average (this is pure speculation)
12 BITCOIN Transactions fees are drasticly down. This indicate that potential bottom is in. Previose cycle fees droped 99,7%, This cycle transaction fees droped 99,1%
13 Twitter interest in BTC in previose cycle droped 70%. In this cycle it droped 38%. This indicate that we have still potential to drop more in BTC price
14 Buy BITCOIN at RED yearly closing candle is historicly top buy oportunety
SO DEFENETLY A VALUE PRICE FOR ME TO START DCA in BITCOIN
More value posts in next few days
How'd you know the bottom then? Also, to base from the past is a good idea but keep in mind that what happens at the present won't be exactly the same as with previous market behaviors. There is no consistency with this industry which includes both ups and downs of the market value of cryptocurrencies. There are too many factors affecting prices which makes it a complex pattern. The best indicator of this market are relevant news which has potential to generate huge demand after a few days. The bigger the potential, the longer the movement of the price in a particular direction. This works to both up and down market movement. |
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Some people will always be in the wrong circle. Whenever there are small drops or corrections in the market, they will just come to a point and say that the market is dead, not even taking into account the points you've made above.
But I don't think we have to convince these people that bitcoin has potential because it speaks for itself. If they can see it, great. If not, I hope they enjoy their journey with crypto shits.
Not the circles but rather your mindset as an investor. No matter how negative the point of view of the people around you towards your investment, decision will be depending on you alone. In the first place this is an industry filled with very volatile assets, from that you should already know the risks involved from engaging so. There are unexpected events that may affect your profit and losses simoly because cryptocurrencies' market value solely depends on the demand created by the community. If you percieve this industry as something which will yield to losses, then feel free to leave; save yourself from worries. |
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Sam Bankman-Fried, the 30-Year-Old Billionaire Once Richer Than Dangote, Now Officially Poor.
Is Bitcoin a good platform to invest? Sam Bankman Fried was the Bitcoin Lord in FTX (Futures Exchange) and he was the Chief Executive Officer (CEO) of the company (FTX), and he having about $26 billions which was equivalent to (#11.4 trillions) and in the 8th of 9th of November 2022 Bitcoin became bankrupt to the rate of $15k and on the of 11th of November, 2022 Sam Bankman-Fried become zero in the crypto space. And he left the position as the coe because of the Bitcoin bankruptcy. Someone that once Richer than the richest man in Africa and become a poor man within a week. Are you sure crypto is the best place to invest? Nigerian Crypto Big Boy Offers to Compensate Traders With N221 MillionUS base Nigerian Bitcoiner Donated $500,000 to investors in this bear market. The crash took investors unaware and it is very drastically reducing to the predicted $10k, so a lot of people are crying for their lost. Therefore, a Nigerian who is in America, a Bitcoin billionaire Gaius Chibueze offered to assist investors in this crash. There is Hope at the End the TunnelUpon all that, Nigerians still have the hope despite the drastic bear market.Most Nigerians are on tears because of the recent crash that came suddenly yet they still have the hope that Bitcoin will still rise again. Life is indeed like a roller coaster, rich quickly, and what happens to the founder of FTX is a big record, Bill Gates, Elon Musk and so on when the age of 30 has not had wealth like him, and this is what makes anyone obsessed from Cryptocurrencies. That's not it there was a factor which caused the reult which is what happened recently. The problem is that people are generalizing the incident such that it will happen again which just causes people to panic . Cryptocurrencies not only Bitcoin is already a risky investment because of the volatile market prices. But the risk involved in the incident is not solely with the investor but the exchanger itself. It should be a safe haven to investors because they are paying for the service, the result should not be that way. The issue is merely because of platform's negligence of not securing the networks. When it comes to what happened with Sam is also another story. He invested most of his assets to something which cannot be controlled with consistency. |
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This is becoming redundant but still, to answer the question, Given that cryptocurrencies are still not widely being accepted as a mode of payment, fiat is still needed to make use of your cryptocurrency assets. Even the market price of cryptocurrencies at the present are fiat based. You may still use your crypto assets as a mode of payment to purchase something but be sure you won't regret spending your assets especially right now wherein the market value is still low. Same thing whenever the market value is high. So when is the right time to use it as one of the main modes of payment? I think it is when prices of things you would buy is not based to fiat such as .0000008 B and such.
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To self diagnose was never advised by the professional because there is a tendency for your restricting behavior to manifest and become official. One of the symptoms when it comes on addiction not only in gambling is having a hard time to be away from the target behavior or activity. In this case, you should be first aware of what may happen if things won't be handled properly. This won't boldly say that you are already a gambling addict. You may still cope with staying away from addictive activity. It is no longer the platform; either land based or online. What matters the most is what drives a gambler to its fullest financial capacity because this should be the start or reprimanding an unwantet habit.
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But actually unexpected things may happen due to media action, they can say that millions of bitcointalk users have to plan withdrawals on crypto exchanges. But that's just something that doesn't seem to worry too much.
Do you think that the mainstream media take this forum as a relevant place for their source of information? In addition, the number of active users, including all beginners, is several thousand, and the number of registered users is completely irrelevant - here you can view the statistics for the past 7 days. I cannot say how many more people visit the forum as guests, but even if it is a few thousand regular visitors, it is still very far from a number that would have a significant impact on some global changes. No matter how many planned to do so, banks has no right to stop you from withdrawing your funds unless you have a contract with telling that you cannot. That is your money in the first place. But however, this is just a manifestation of worries from what happened. There's no need to pani, just be mindful of your holdings and actions to avoid being a victim of phising sites or fake applications or wallets. Also, not all people would pull their fiat assets to put it in this industry because that will also mean that they have risked those amounts already from the possibility of losng. The idea of OP is there which is to take full accountability of your money. But no matter how you secure it on cold and even physical wallet, if you'd be somehow negligent, it can still be got from you. |
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Bitcoin can also fall to $12k. I don't think this is the most important. Only long-term investors will have given a few thousand dollars too much. But considering that the value of bitcoin will be $ 100k in the future, I don't think it will cause problems. Both due to increasing inflation, and together with the volume generated by bitcoin, I do not think that the minimum value of bitcoin will be less than $ 10k. Since Bitcoin increases the maximum value it reaches every time, it also causes the smallest value to increase.
Bitcoin can go up or down at any time and we will not be able to guess it. And for now, bitcoin has fallen to $16k and there is still a chance it could drop again and no one knows what the next low will be. But I don't think it's because of rising inflation but maybe because there's still negative news about bitcoin that triggers people to panic. But we can still hope that bitcoin can go up high and many people are predicting that the price of bitcoin can reach over $100k. As I have read comments from different users; it made me come up with the idea on how inflation became related to what is happening in cryptoindustry especially with the market value of cryptos. Maybe, due to inflation rate, small investors(which are more than the big ones) are prioritizing necessities more than investing at this point. Market goods became more expensive and in some countries minimum wages haven't adjusted yet which might forced them to pull out their investments temporarily, causing low demand to cryptocurrencies and eventually affecting its price. This is the only idea, on my end, which binds inflation and market prices of crypto, since it is always being brought up. |
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If you're too afraid then ease your mind; sell you holdings. This is being repeatedly told to every investors here. You won't be wrong from either selling or holding because that is your decision. Just be safe feom regrets whatever decision you are about to take; this is your goal as an investor. The market is volatile in nature simply because its market value is determined by demand. With demand, it is not constant because of factors affecting it. If you can endure no matter how low the market price gets, then continue holding. The losses, as long as you are not selling, are just temporary and you only have to wait for the recovery. This is how simple investment is, not only in this industry but also to other types of asset.
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From years of being in this industry, there are things that made me hard to understand and one of it is its origin, to how it was created and to how it became listed to many exchanges or basically to how it all started. The known founding father is Satoshi which we do not still know his real identity. The extent of how he is still planning to improve Bitcoin as our technology advances. It is a mixed of curiousity and excitement for this industry in general. All in all, the future of this industry not only Bitcoin is promising. It can be both used as a currency and investment at the same time. And as years are passing by, it is being known by more people in line with adaptation. So for sure there's more to come.
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It seems that the bear market is not over yet. While it is difficult to predict exactly when a bear market will end, based on past trends, it could take a while. So, the thing that can be done to survive in the current bear market situation is to hold the asset in the long term rather than focusing on its current price. Moreover, many portfolios have been hurt by bear markets and may take longer to recover.
The market is just unpredictable and volatile in its nature which makes it no longer surprising to not be able to predict when will exactly the market recover. In my opinion, there'll be months from now that the market will remain deep given that no signs yet of recovery is obvious at this moment. There are factors affecting this industry;it could be economic crisis or high inflation rate at the present, what happened with ftx, and more. Since we are not sure what heavily affects the market behavior, it makes it hard to make predictions on the next price movement. So for now, holding as cliche as it may sound, is the best thing to do in order to not permanently cut the loss from your investment. |
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The question is, would he be fine knowing to take risks involving money at his age? 'coz investing might yield to gambling; there are no assurance of winning on both activities but ofcourse investment is different. Also, would he be interested? At the age of eleven, most of the children are not having that much of interest with money, meaning, you might just ruin his time pushing him into something he/she is not yet interested with. I do get the point; it is somehow a laderized teaching approach so it would be systematic and not forcing the child to do so. If he/she would be growing in such field, then that's good. But be sure you won't take his/her childhood just because you want to impart something. There is always a right time for everything and most of those times, interest is the bottomline.
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Bitcoin is a good investment but it would be better to diversify your investment WISELY, if you would be aiming for bigger profit from this industry. Bitcoin has the biggest tendency to have a price increase whenever the market behavior is on upward direction especially from down market. But the rate of increase on other cryptocurrencies or altcoins are just way bigger than with Bitcoin. Only problem with other coins is that it is hard to determine which is which. Potential is not enough because most of the cryptos are having very volatile market prices. But as investors, we do have different preferences; some would take risky assets because it generate bigger profits while some are more into bigger chance of just earning profit meaning, less risk compared to others.
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