Topic: Casino vs. Stoc,Forex&Crypto Broker: Who's Really Playing You in the Money Game - page 11. (Read 3437 times)

Well, what I can say about this, I have my own experience with the government I live in, and I think that applies to any type of government in the world, even if it is the most prosperous country, and the government does not care about its people. , the structure is made so that they take advantage of the resources of their countries and for the pronas only give them crumbs, and not what each one of them deserves, for this reason I say, the regulations are thanks to governments, those governments do not They have control over crypto obviously they want to have it but they can't because things are difficult and this can impact the things they do, the things they don't do and the things they are going to do to see if they can get money, and when they do they realize that If they can manage a mass, and unfortunately we are included in the mass, and what is the control? KYC, if they handle crypto? That is something they do not tolerate, they do not accept, if they handle it they have to be penalized, but they are penalized with money, and at the same time they are obtaining money through crypto.

So exchanges, brokers, casinos, they are all part of a regulation by them to be able to have at least a slice, they will never support people who have crypto to operate freely, because financial freedom comes from an alternative economy that is superior to the traditional one, and that is what produces all these problems, in the end we realize that we are fighting against governments, bankers and people with a lot of power, it is difficult to raise our voices, that is why the KYC that can be avoided and even better, because what you say is very true, at the time that those sites cease to exist and are left without even a domain, since that information is absorbed by the governments or whoever has the most power at that moment .

You compare trader and casino. But you have to compare trader and gambler or broker and casino. In such compare we see the same result - broker and casino always win: broker don`t risk his money and get some percent for each deal and the casino has RTP and always win.
Trader or gambler can win. I think that it is possible to win for a long distance, but it means that some other gambler/trader lose.

The fact of the matter is that this will bring a lot of problems in the future. 
Imagine that now many cryptocurrency owners who gamble   at crypto casinos thoughtlessly send their personal data to these very casinos, including video images of their faces, perhaps even receipts for utility bills, and maybe even fragments of voice recordings.  As ax result, after some time, part of the casino, or, for example, a crypto exchange, which has the same KYC requirements, will go bankrupt.  And what will happen to personal data databases.  But they will all just be stoleln and eventually appear in the public domain on the Internet.  This in turn will create a powerful wave of fraud using these stolen personal data.  I think governments are grossly negligent in this regulation. 
Governments and officials simply do not think about such developments.  More precisely, of course, they know where this will all lead, but they don’t care.  This will be done by the next generations of officials and law enforcement agencies.  In short, you don’t need to send your personal information anywhere if you own cryptocurrency. 

This is the most correct solution to the KYC issue.

When we want to discuss the context of luck in trading vs gambling,  we must bring so many things into bearing and as we go along with the analysis we should have at the back of our mind that luck is a subjective thing,  just as skills is subjective,  luck don't just happen,  you must position yourself for the luck so for that when it comes to trading,  luck plays a minimal role and, skills is what have the primary role in trading.

Gambling is based on luck,  because there are some games that you pourly depends on luck to win them, most of the times games like spin and dice and even football bets this have been the norm with gambling this is why we have more trust in trading than in gambling and just like I have said before, in gambling you can lose all your money 100% but that is not so in trading because as a leader you already have your stop lose limits and once the market get to that level your trade will just automatic execute and then take a lose at a point.

But we have not seen such happening in gambling unless if you take a cash out and that doesn't come when your games are a loss,  there only give a percentage at which you already won,  so in all you have to depend on luck at all time because even with your luck you still stand the chances of losing the bets/games most especially on in the house games.

Your points are good, but we can still further argue the subject out based on the context of your narration. In both trading and gambling, we need luck, only that the level of luck we need varies, and that's if we want to view the expression called luck as existing at all. I must say that many times in my trading experience, there are instances that I could truly express that luck was at work for me, so it exists too there. Take, for example, a trader who analysed the market quite well and opened a buy position with 250 pips take profit and 100 pips stop loss. But suddenly, the market started moving against him abnormally without a valid reason, and for this, it (the market) changed the short-term trend to bearish, which is against the position of the traders. After some times of scary movements against the position, the market now almost hit the stop loss having moved 99 pips of it and remaining just 1 pips to hit it and close the position at a loss.

But suddenly the market could not proceed further with just 1 pips to hit the stop loss but just threatened for hours but still couldn't hit the level. Due to this, the trader could have just taken heart and abandoned the trade and closed his gadget believing he had already lost with no more hope. On getting back to the chart after hours of closing the gadget, he now met the trade in huge profits. I see that as luck and something similar had happened to me many times in trading. Also, the sports betting aspect of gambling could be likened to trading. The two are not so strongly the function of luck but expertise. This is especially true if we limit it to the buy/sell in trading and lose/win in gambling. It's the casino aspect of gambling that is so reliant on luck, even though the expertise in trading will still yield better results than the expertise in gambling.

The difference is, Brokers can use their education and skills to increase their chances to broker good deals or trades, but in the gambling scene the odds are stacked in the favor of the casino...because they control everything.

The casinos have a fixed house edge and RTP and they can manipulate that, without you even knowing it. They also know, if you continue playing, the house will always win.

Well I have a type of experience in these things, but not in an exchange, in the casino, a long time ago I was going to make a withdrawal, but it turns out that it was more than 10mBTC and when I was going to do it on Binance they sent them what I had to do a temporary kyc, and I was surprised, the question was to verify my face through a video of about 3 or 5 seconds, and that was something that they could determine if I was the Owner of the Account , I don't know if this It's good or bad, but based on the fact that I had Already left my KYC documents and then they verified my face with my documents because things were Going to look good for them , then when I had to do it, well then they did allow the withdrawal, but I It seemed Absurd, I think that with the security that Binance had with the email, and the 2FA factor was Sufficient , these things are what I say that are Sometimes Incoherent.

I don't know if this can Apply to casinos, because it is something that we can see as normal, but to be honest these things are unnecessary, with their excuse of having more security what they do is obtain more data from us, this time with a video , it means that the anonymity, the privacy in the exchanges is already like a normal bank, I don't Even want to imagine what they do in a broker, it must be like this or more Demanding , but the casino could do something like that, What you say is very true, anyone can be with their ID in hand, with a photo and that's it, anyone can do it, this will bring many problems in the future, of that I am sure.

Of course, fighting a titan is very difficult and may even seem impossible.  
However, let’s imagine that information has spread among cryptocurrency lovers that, for example, such a KYC option as sending a photo of a person with a document in hand is not an acceptable identification option.  And no one will send such personal information to the casino.  If this becomes widespread enough, then the casino itself, seeing that clients have begun to massively refuse to provide such data, will be forced to look for other methods of personal identification.  
And this, for example, may be only the first step in the overall struggle to restore anonymity in gambling in casinos with cryptocurrency.  But this is of course just an example.  However, it is possible to begin implementing such programs to fight for privacy rights.

Well it's not that I wrote Rubbish , what I did was at the time that I had a very bad Internet Connection, I didn't read it because where I am at that moment the connection dropped completely and I thought I had deleted that paragraph, that's why I wrote it again, although I don't see it as a wall or something like that, I don't do it for any weekly bonus, the topics interest me and I try to contribute everything I can, if you start reading carefully, I made that Post today for What they have not read yet on stake.com , I do not Understand the double-intentioned and Malicious comment , I Already said that I had that connection problem, and well I only apologize for the Misunderstanding , but with respect to the Brokers, exchanges and casinos That's my Perception. And if you have doubts about why he gives me a bonus, it's simple, you just have to talk to those in charge of reviewing the company.

In the first place, I feel it was even wrong to compare gambling to stock, Forex trading and all, they are simply unrelated, judging from the fact that gambling is something any one can do generally, like, someone who has never gambled before can wake up one morning, and decide to sign up on a casino, make a deposit and starting playing slot games, or even place some bets.

But coming to stock, Forex and even cryptocurrency trading, the above is unlikely to happen, else the person will just lose all his or her money, trading stocks, forex or crypto requires formal knowledge of the market, adequate preparation and also alot of money as starting capital to guarantee substantial profits in the course of the trader winning a trade, but in gambling, one can literally start gambling with dollar cents, this tells us the clear difference and distance between gambling and trading those markets mentioned.

Gambling is far different from stock brokers or forest trading as we can have bit trading and so on but in gambling there is nothing like that,  and to win a game it depends on you and your luck,  but in trading, we can still have some tools that are available to use in other to get advantages over the trade at all time.

So for that, we need to give space to build that understanding of the difference between the two and not to get too much entangled with much comparison that will make us to miss out on things.

Lolz, no offence to LUCKMCFLY, but I honestly don't waste my time reading or replying to such a long wall of texts, excepts if it's the OP of the thread, like the initial starting post of a thread..
A comment in a thread that is that long automatically turns me off, and I don't bother reading them.

I personally understand that the reason why LUCKMCFLY is used to posting such a long walls of text as comments in several of his posts is for the purpose of winning the Stake campaign weekly bonus, but he and every other persons who engage in this style of posting should atleast, proofread their wall of texts before clicking the "post" button, some times, I wonder is stake campaign management even read this things before awarding their weekly bonus  .

Come on dude, really?  Can you at least proofread your walls of text before posting them? I wasted 5 minutes of my life reading that crap!

archive: https://ninjastic.space/post/63673788

I think that the data is very delicate to leave it anywhere, for me the most important thing in all this is that you always let yourself be carried away by things when they are more reliable casinos, in these times things with the data must be very different, in This case of a casino that always demands the same from others, is it something more important? Many more things have to be done, for example the KYC that is earned? That the drawer could have data from whom? or for whom? This is undoubtedly so that they are filtered to governments, to entities that have to do with banks, so that tomorrow or in the future we can generate more things that are different such as taxes, I personally have always said that anonymity and Privacy are rights that little by little have been skewed, they are being distorted a lot, with the issue of regulation, because this way it is safer, that when there is a problem things can be resolved faster, in fact one day I read in a post from a casino that I don't remember which one, where they said that they defend KYC because at the time there was a hack with the KYC identification that was easy to solve when it came to refunding the money.


Now things can be very delicate with these types of statements, I know what they do to make people complain, but in part these things are pure lies, because only with the user ID can the money be refunded, otherwise, like it was before? When did mandatory KYC not exist? So for me these are more than excuses and just words, things are not like that, I am not here to deceive anyone, no one is so ignorant as to believe these things, whoever wants to believe it, that is their problem, But I have always defended that one as a person and as a player should play in total anonymity if they wish, and should respect that, but how do you go about fighting the titans?

Edit. I edited because at the time I was making the publication I deleted and wrote again, I also had connection problems.

If a casino collects Personal Data from customers, this may be justified by the fact that it primarily complies with legal requirements and instructions and regulations of local regulators.  The second aspect of collecting personal data is some kind of guarantee against payment of winnings to scammers and control over payment of winnings.  The third aspect is purely marketing and the use of clients’ personal data for advertising, and in some cases for the sale of this data to advertising agencies for targeted advertising. 

So, the amount of personal data within the framework of KYC can be very different. 
This can only be an email, or a mobile phone number; in extreme cases, this is a volume of data comparable to the amount of personal information that a bank will require, for example, to process a mortgage loan. 
The correct thing to do is to always ensure that the casino does not receive unnecessary personal data, and in some cases you can argue with the support team of such a casino and not send them, for example, photographs of your face or documents.  In my experience, sometimes it is even possible to reduce through negotiations the amount of your Personal Data that is required from you when providing the relevant Service.

In my opinion when it comes to gambling, choosing to place sports bets or games that involve cards or other gambling games that do not depend on luck becomes a good choice because in the case of people who are putting money into gambling games that do not depend on luck, they are having greater chances of getting it right depending on the level of knowledge that these people have about the games in which they will place bets, while in the case that they keep playing games of chance that depend on luck, when they place money they must be aware that the money they put into the casino to play is already wasted money because the chances of them being able to get a big multiplier hit are extremely low chances

I believe that deep down most people are aware that if they play games of chance that depend on luck, they will lose most of the time they are playing, if they are playing with low multipliers then they may even have a situation in which the number of hits with the number of losses is not a huge difference, but the person will still be losing money. gambling is not an investment, trading is not an investment, so people need to be very clear that in all these options that the op mentioned, only investment is the only option that is really safe and profitable, the rest of the options only if I lost money .

In day trading, people lose more money than they can earn. In forex people also just keep losing more money than they can make, in binary options it's the same situation where people keep losing more money than they make. My advice is that if a person really wants to make profits in the long term, make an investment, make a long-term investment and that person will make profits. People shouldn't be fooling themselves, they need to know very well how to differentiate investments from gambling, forex and other things that only cause losses and should be seen as just fun

That's right, but the question here is how to avoid doing it if for almost everything they require KYC, I know there are people who are very extreme with their decisions, in fact since the KYC requirement came out I know that many players do not They have not even wanted to verify themselves because they know that things like this can be very different for them, they are people who have also left their personal data, they have not even been able to do anything so that they can leave their phone numbers, which is something that can be very well accepted, when it is like that not even that is allowed, then I imagine that this type of person is not in brokers, they are not in centralized exchanges and apart from that they do not have the way to do the same things like the majority who are Leaving KYC for all sides, but sometimes it's like feeling locked in a very big world and not being able to enjoy it because it is something that does hit.

Although this thing with anonymity, privacy and everything that has to do with No KYC has its great advantages, because I consider that this type of thing will always be something that cannot be done as it is.

I could think that when we are looking for fun, in brokers, exchanges or even in a casino , the closest one that was without KYC requirement was freebitco.in and now things sound very different because basically things are done well with KYC The truth is, I have not done anything to be on freebitco.in and be able to do things better , I will always say that things with this casino are good , the bad thing is that it joined that casino list that has KYC, now the things sound different, I don't know how demanding they are or what the Reason was for them to Change their policies so that it was like this now, so I don't know, but what I am forced to think is that I have only put my KYC in the casino of all life , only the most Reliable, there is no other.

I don't think you are being appropriate here, perhaps you are ill-informed on how these things work regarding the exchanges. If it were to be the traditional broker, well, I would still say that it is true of the market makers, but for the crypto exchanges, I think that you are so wrong about them. What I have noticed about the crypto exchange is that their trading (spot and futures) is structured in such a manner that their customers are the liquidity providers, and this is in addition to others who are willing to stake their money directly. The system works for itself and within itself, and this is evident by the times that they will specifically allow some people to join their liquidity pool.

So, it is practical that they are not the liquidity provider, and even if they are part of it since they are entitled to it, they are justified but are not the lone risk taker. But what the exchanges practice mostly is to create a crypto marketplace within their system where anyone can participate in it. If any trader loses, he will lose to the liquidity pool and this will be shared among all the providers of liquidity, which includes yourself if you invest in it, and it depends on the proportion of your stake in it. And the traders who win will win from you inclusive too. This is the fairest practice I've ever seen if you ask me even as the exchange itself is not greedy to take all the business and the money associated with it.

Of course, when you play in a casino and do not provide your personal information to the casino, you feel much more freedom and independence from this game. 
But many cryptocurrency owners have now become obedient slaves of the system and, without even thinking much about it, send their confidential personal data anywhere as soon as they are asked.  Although, in this case, the casino often violates one of the principles of disseminating personal data, which is that a person should not provide an excessive amount of personal information.  A shall limit this information to only what is necessary to provide the relevant Service.  Many people simply don’t know about this and don’t even realize that they often don’t even have to send photographs of their faces or scans of documents.  And the requirement to provide such data is generally illegal. 
But, I repeat, unfortunately, the owners of cryptocurrencies have come to terms with KYC and even already consider it something to fight crime and guarantee the return of their funds.  But I believe that this is not so and I try to never provide KYC.

I don't think you are on this planet, no one is making reference to the difference/comparison between them, but the OP is pointing out the fact that one is more exploitative than the other and also believing that people are not paying attention to it. In my opinion, the OP is just not rightly informed about the two as only a fractional type of broker is exploitative. Is "exploitative" even the right word to use? I do not think so. They are only doing their business, I mean the market maker type of brokerage, and when you lose, they will earn the entire money you lost, but when you gain, they will be the ones to pay the entire money you won.

This is a fair package as far as I am concerned and as long as they do not deny the person the money. All that matters is for the trader to be up and doing, or else, they will just be wasting their money in the pocket of the broker. What difference will that even make, won't they still waste it in the market pool if they lose with other brokerage types? I see nothing exploitative here inasmuch as the broker is fair in what it is selling.