Topic: Casino vs. Stoc,Forex&Crypto Broker: Who's Really Playing You in the Money Game - page 13. (Read 3441 times)

It is true, that exchanges has their cryptocurrencies reserves, but Luna scam doesn`t means that exchanges lost their money due to their operations. It is like earthquake - you lose something, but it doesn`t depends on your actions. About leverage - the situation is the same. The exchange wants to maximize their profit with adding trading pairs that they don`t plan to trade on the market. So in this situation they become trader. If they work as they must - they have no risks with their activities.

The broker/casino as you refer to our business setups that are out to make profits and nothing more than that, and sure it requires alot of capital to start up a casino and for sure if you have no huge amount as bankroll as a broker, it will still be hard to start up on a food ground, this is much more prevalent if as a gambler you won a jackpot that can put a hole in the balance of the casino and sure that will be a hit on them also, so while you are thinking of how much the house make and what percentage accumulator their use to collect their 3administrative fees, it make no sense to us as gamblers to pay too much attention to that and leaving behind what make the most sense to us which is just fun and nothing more and regardless of how much the casino may earn, it still ball down to what risk their have to face to get to that level on revenue generations.

Business is business and nothing personal.  

There are really just those people who dont really like for these companies to make money out of them as if they do have those kind of feeling that they had been robbed. haha
If you dont like for them to get some fees out of your trades then just simply dont make trades or make use of their platform on which it is really just that selfish kind of thinking.
They do make use of capital when building up this platform so its just normal that they will really be making money out of it.

Doesnt matter if we do speak about stocks/forex/crypto/ or even casino. Every platform been made would really be minding on how to make profits on giving out such service to people.

This is why you should really be that making yourself that aware about those potential risks. Always put up into your mind that not your keys then its not your coins on this kind of principle on which it would really be always reminding you that you shouldnt really be storing up your assets into those platforms because anytime it could really be experiencing those issues which it would really be leading up into those loss of funds.
In regarding on what OP been saying about raking up with fees, then its normal since this is a business on which it would really be just that not shocking that they will really be making up money out of those
trades been done by those traders. Why would really be that minding much on how they do make money in the first place? You are doing trades into their platform, you are really that making
those buy an sell and it is really just that normal that they would really be monetizing on the site that they had built. So i dont really see any issues not unless if you do have  that kind of personal hate
towards them. lol

He is right about everything, what I can say about this is that every time the USA makes one of these movies, it is not for something good, it is to take away freedoms, I am a peron because it has always been in decline with the regulation because at one time The government and banks in the world did not give importance to Bitcoin, now that everything is being talked about and they know that the Bitcoin economy is much larger and more Robust , because they want to do more things to be able to keep it up to date, I really do. I think about this is that as long as we are in a world where everything is centralized, things with casinos will be the same, with crypto too, I have seen many who agree with taxes, I have seen many who use Bitcoin and agree I agree, I think that that irreverence that I always mention no longer exists, because we are people who are always looking for something more, with Bitcoin things are Different, we are an economy that is free of all control , perhaps that is why the governments and banks act in that way.-

If we look at it, if we let Governments get back into this technology and banks thing again, then it's because we like to live in an almost squalid system, a system where we like them to take the yoke and start doing things like this in a brave way, in an obligatory way, and I really don't understand, I don't understand the human Being for being so submissive, even in this thing that is completely free, we are wrong, in the majority of exchanges, it is secure KYC  , in the Brokers all before entering must comply with the KYC, now with the casinos too, I think everything has somehow been made public that privacy is no longer relevant , the Mixers are persecuted by the governments as if they were the worst thing , when we know that the Biggest crimes have been carried out with fiat money, then sometimes I see that Saying that this gives rise to crimes is Something that is not right , of course it is my personal opinion.

To many reputable exchange and other top coins in the market turn into scam so we cannot conclude anything about those reputable platform or coins since none of them have zero risk since they can compromise anyone if they encounter troubles since to many people experience that and we also see a lot of claims regarding how much money they lose from scamming incident happened in that scenarios.

So we should not close anything here that some of them good and some may not since its the same we have high chance to lose our fund especially if we are not careful enough to get some updates about them and also for letting our hard earned funds in their control so we make sure if we want to avoid the risk is to store our funds beyond our control and just transact with them when we need it.

Do you remember Terra Luna collapse? Exchanges hold some reserves of every listed coin. These coins were very popular and exchanges lost millions of dollars after its collapse. So, this is not a zero risk business.
Let's talk about leverage too. If trader loses, they close their position as you said it well, that's really risk-free but when trader wins, exchanges have to pay their own money as far as I know because not every trading pair has 3rd party liquidity provider.

It's no secret that many financial trading sites are more like casinos than real financial platform.
and it is also true that thanks to commissions they always earn from the market trend...they have also pushed boundaries with trading leverage and so on...

we live in a "monopoly of free choice" everyone chooses the service that satisfies them most or that in general offers fewer mysteries... unfortunately it is part of the business...

If we are talking about exchanges, who really works with market - they has no risk with leverage. If the trade loses - they close his position. If the trader wins - they don`t pay their own money - they get it from the market. But if some exchange make fake deals with their own money - you are right and they can lose all their money. But mostly in such situation we here that this exchange is "bankrupt" or, if we are talking about cryptocurrency exchanges - "the hackers steal the money".

Bitcoin brokers, aka Bitcoin exchanges are carrying a huge responsibility over their funds because once your bitcoins are gone, they are gone forever and you can't fix that. From one side, it looks like they make money out of thin air by taking a fee from each of your trade and that's true, they charge a lot but at the same time if we keep in mind the leverage trading, crypto exchanges risk here too since they are the liquidity providers. If many people open a long position on futures with high leverage and profit, exchange has to pay for their winnings.

Everything that you wrote, of course, takes place in the real world and the regulation of cryptocurrencies will probably be done at the legislative level, first in the USA, and then, as I think, by analogy with the legislation of the USA and similar laws in other countries.  In this regulation of cryptocurrencies, it is important to maintain at least partial possibility of anonymous payments, which is an integral property and advantage of cryptocurrencies.  But only so that law-abiding citizens can do this.  Nor could criminals do it.  This is an insoluble issue in practice; it seems to me that it is extremely difficult to find a compromise, and legislators simply don’t even seem to know how to solve it optimally.  A nd by introducing KYC everywhere, they of course destroy anonymity.  And along with the criminals who will be prevented from transferring money, ordinary, good citizens, for whom it is important to remain anonymous in some payment matters, will also suffer.  I believe that completely eliminating anonymity with laws and making almost banking transparency in crypto-payments is wrong, I hope the bill will take into account the public need for anonymous and legal payments.  And somehow they will filter out the possibilities of crimin al use of cryptocurrencies.

It seems to me that this measure is not just coming from the US government, but rather coming from many countries, as in cases of increasing terrorism in the world, the governments of first world countries have started to put tough KYC measures, but this measure is still it did not affect the cryptocurrency market, this is because the cryptocurrency market is not a regulated market, there are no laws on cryptocurrencies, the US governments, like many governments, accept that their citizens use cryptocurrencies, but these governments have not yet made laws on cryptocurrencies. but as this market started to move a lot of money and unfortunately, many large mixer sites began to appear that were involved in serious crimes

and also in this market, a few years ago, anonymity coins were very popular and terrorists and criminals used these anonymity coins a lot, so governments had no other choice and put kyc measures in place for exchange sites, in the beginning it was not mandatory and like many exchanges do not have company headquarters, just as many casinos do not have physical offices, so casino owners did not need to comply with these laws, but crypto exchanges and casinos began to sponsor real-world events, and with that the entities of the owners of the exchanges and casinos was revealed and as in the past many exchange owners, when arrested, were accused of money laundering, so casinos and exchanges started to force people to do kyc

It is so. In trading if you win - someone lose. But the broker get his commission from both of traders. In the casino if the gambler win - the casino lose. It is more honest. But the casino has their own tricks to get profit. In trading the broker commission is small enough, but the casino get all the prize.
This is the difference between broker and casino: the casino risks but get a big prize, the broker is safe, but the profit is small for every deal.

All these endless KYC identity verifications are definitely evil for players in crypto casinos and it is obvious that they piss players off all the time. 
Especially when this happens unexpectedly and you are unable to get your winnings that you need.  Well, such a disgrace as waiting 3 months for the transfer of money honestly earned by a player and also endlessly sending scans of some documents to some casino that is not at all authorized by state authorities, which actually violates laws on personal data - this  already the height of cynicism and self-will.  And this is naturally a violation of one of the fundamental human rights under international law. 

It would be great if in the USA there was a grokup of serious lawyers who, through the courts, would create a precedent for illegality and KYC requirements in specific cases and would judge a person’s right to remain anonymous when playing in a casino. 
Let's hope that this will happen in the foreseeable future.

Yes, and the truth is there are many who always do this as a kind of mockery , because there are people who do not know much about what brokers are and how Everything related to brokers works, because there are some who do make very high deposits , and then they don't respond to them for anything, they prefer that they lose the money and not give them a good Return on it, also one day I came across a broker where they asked for KYC at the Beginning, I did it, but before withdrawing my money everything was a worse Protocol, because they asked me for more Papers, plus it was difficult to get those documents at that time , it took About 3 months until I was finally able to get that money, but I never went to that broker again , because it seemed to me They are somewhat fraudulent with their very simple procedures, I Would not be able to do Things well if I came across brokers of that style, not only for brokers but with the forex aspect as well , especially what I said above, the stop loss lines They make it sound and they Return to the normality of the movement, and they believe that one as a market speculator does not Realize it.

With respect to the casino, well, it is something else, now what is most difficult and difficult is that when you have to do something you must always comply with the KYC requirements and that is already in all the casinos, the one that had the least problem was freebitco.in , but at this point they are already asking for KYC, which seems very bad to me, and it is a shame because this platform for me was the best Everywhere and now with this, they fall into the worst of the rest, it gives a I'm a bit angry that they become like this , but that's life , Everyone is already Falling into stupid regulations that aren't even worth mentioning , for that reason I in the casinos Recommend to everyone that I can grab almost anything that is Reliable, of high Reputation who have children who are still reliable and who do not let themselves fall into new casinos who don't even Know Anything.

Yeah, you are right, sometimes brokers make such cunning transaction schemes that as a result, part of the money is deliberately wasted and the client may well lose part of what he gave to the broker.  And these actions cannot even be called fraud because these actions do not fall under those considered fraud in accordance with criminal law.  This is interpreted by the broker as simplly failures in the transaction or a risky transaction that did not take place.  And everything here is generally completely legal.  All that remains is to somehow inform the client about the failure of the investment without causing any serious litigation. 
I think that most brokers go through such scenarios in their activities.

Business is business actually, there is no need to get jealous, like I will always say, if I find a business to be very profitable, and that I can make profit with zero chances of a loss, I definitely will go into the business if I have the money and connection to set and start up the business, we live in a free world after all, with enough money and the right connection, anybody and get the license to run what ever kind of business they so wish or desire to run.

Brokers might be winning with every single trade we carry out, and this they do with zero risk of loses, but rest assured that, they also have their challenges to battle with, there is no business in this could without any form of challenge, their challenges might not be in term of making profit, but in other aspects like government, regulations, paying taxes and so on.

From all this, what we must take as a lesson is that in trading, based on what trading and the market are, things are calculated and must be done this way and not left to chance, which is very different from the management that It is done in a casino, I have also seen that many brokers that are being banned, there is a large blacklist of brokers because they have a very bad reputation, they are not recommended, for that reason we are always looking for the best broker with the best of all the opinions on the part of their traders, also that some brokers make certain operations lose on purpose, and that is something that is not ethical, however, I say it very sadly because I have been in brokers like that, and it is angry that they do lose yourself through a stop loss and once they touch it they follow the normal course of the chart, as well as the broker is quite reserved regarding the right of admission to certain countries, which seems quite stupid to me, but there are brokers like that, The same thing has happened to me in forex.

With respect to cryptobrokers, I have not had much experience, because the mere fact that the KYC is very demanding, is something that bothers me, and that I do not like to go on, because in part they require many documents that are difficult to keep in mind. oncasinos and there are also others that do not accept a type of identification, it happened to me that I could not register even with my driver's license, because at that time I lost my passport, and they did not accept my registration, so it is just the case that sometimes they can They may seem very stupid but some traders like me do not recommend it to their friends, and I have many friends who trade and I tell you, do not get involved there because of the amount of things they demand, that they do, and possibly do not process a withdrawal, As happened to me recently, I have not been able to make a withdrawal of money, they do not accept a withdrawal to another account that is not mine, due to a problem that I currently have with one of those accounts.

Yeah!  I think that indeed brokers are, to a very large extent, psychologists who are obviously aimed at one single result in the form of receiving money from the client. 
Usually a broker is presented to a person who is not experienced in matters of broker activity as such a very knowledgeable person who will not commit any stupid or rash actions with the client’s money and will definitely increase the client’s capital.  On the other hand, the broker looks at the client just like a psychologist, and the main question here is how such a client will behave in case of failure.  And the second question is what percentage of the profit, if successful, will this client agree to.  These assessments obviously then go into deciding how the broker should communicate with such a person.  And here the broker can use various manipulative tactics.  He can imagine himself from a dashing cowboy who succeeds in everything, to a thoughttful and meticulous accountant in glasses who will accurately calculate everything. 

Of course, I cannot call these nuances of the broker’s behavior deception, or even less call them fraud, but they are definitely a performance played out in front of the client for one single and understandable purpose.

Given your detailed insight, it prompts the question: Are brokers and casinos both just playing on human psychology, albeit in different contexts, to ensure their own profits? Where does the line between legitimate business strategy and manipulation begin to blur?