Is Bitcoin Gambling Legal? — BitcoinChaser
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is bitcoin gambling legal in the us
is bitcoin gambling legal in the us - win
Bitcoin for online gambling in the US (Is this legal?)
Is this legal? I have seen a few sites but I am not sure if this is legal in the US.
submitted by grpace7 to Bitcoin [link] [comments]
Is it legal to run a bitcoin lottery and gambling website in the US?
submitted by BitCoinCasino to Bitcoin [link] [comments]
Is bitcoin gambling legal if I live in the US? /r/Bitcoin
The next BTC crash could be something to behold
Also
on my blog with better formatting, cute footnotes and inlined images.
Note that not much here is new material, mostly rehashing existing points.
Disclaimer
This article started out as research for my betting against Bitcoin on the stock market. This isn't financial advice. As a matter of fact, I encourage all readers you to not buy or short crypto, through any market or derivative. Use your money for productive uses.
Here's a TL;DR:
- The current parabolic price increase in Bitcoin is a bubble that has started popping.
- A stablecoin called Tether is either one of the largest frauds or money laundering operation in history, and is providing most of the liquidity in the cryptocurrency ecosystem.
- A BTC bubble pop, incoming regulation on stablecoins or the current NYAG investigation into tether will expose tether's insolvency to the crypto market. This is bigger than it sounds.
- (Speculative, but one can hope) Current prices to mine BTC could end up higher than BTC market price, exposing BTC to a 51% attack.
A Recap: Bitcoin is useless and should go away
Bitcoin serves no purpose. Let's just rehash that by quickly debunking the major claimed uses over time as seen here
- Proof of concept: No argument here, but now that the market cap of cryptocurrencies is closing in on a $700B, this seems moot.
- Cheap Payment Network: Nonsense, since BTC transactions are currently >$10 and this worsens the more people use it.
- Anonymous Darknet Currency: I'd have said "no argument here", but apparently it's surprisingly easy to trace BTC nowadays. However, crypto ecosystem as a whole seems to do a decent job at laundering money as we'll see later.
- Reserve Currency for Crypto: Since a reserve currency should be useful as a means of exchange, and I wrote several thousand words on how BTC is not that, my position is pretty clear. Also, the fact that a cryptocurrency indexed to the US dollar has trounced BTC as the main means of exchange in the crypto ecosystem speaks for itself.
- Programmable Shared Database: You know what's programmable, shared and a database? The database we use at work. Just learn to implement access control lists on your SQL server.
- Uncorrelated Financial Asset: Given BTC crashed just like the rest of the market when COVID showed up, this doesn't hold up
The stupidest version of the "uncorrelated asset" argument I hear is "Bitcoin is a great hedge for inflation!"
You know what's a good "hedge for inflation"? Literally anything. The definition of inflation is "the price of money". If the price of money goes down (inflation) then everything else has a positive return by comparison.
People who say "bitcoin is a good hedge for inflation" shouldn't be trusted to manage their own money, let alone give financial advice to anyone.
- Censorship Resistant e-Gold: This is a roundabout way of saying "BTC is a store of value"! Which, again, can only be said by people who've never read the definition of "store of value" in a textbook.
I already went into detail into this, but BTC is a terrible store of value because it's volatile. Assets that can lose 20% of value overnight don't "store value". BTC is a "vehicle for speculation".
The only way price is sustained for BTC is that you can find some other idiot to sell it to. Just as a reminder, 50% of Gold is used for things that aren't speculation, like Jewelry, so you'll never have to worry finding a seller there.
Here are some real uses for bitcoin:
- Gambling is fun. You buy BTC, the price might go up! Or down! This is exciting.
- Hackers, money launderers and other criminals certainly find cryptocurrencies useful.
Reminder: BTC is an ecological scourge
The current cost to mine a BTC is around $8000 in electricity. This electricity mostly comes from subsidized coal in China.
And given the current amount of BTC generated each day, we're using about equivalent to the electricity from all of Belgium, largely in coal, to keep this going.
I don't mind wasting time on intellectual curiosities, but destroying our planet for glorified gambling is not something I'm happy about. I want cryptocurrencies to go away entirely on this basis, philosophically.
Current BTC prices are a bubble
Before we go into tether, reminder that at the time of writing, the plot of BTC price against the S&P500 looks like this
BTC price has increased by ~800% since March. Still, no one uses it for anything useful since the last bubble in 2017, or the other one before that in 2013. This is another bubble however you put it.
BTC is not "new technology"
10 years the internet became popular, Google and Amazon already existed. We're 8 years after the popular emergence of deep learning and it has already revolutionized machine translation, computer vision and natural language processing in general.
You could argue that deep learning and the internet existed before their emergence, but so did cryptocurrencies. Look up b-money and hashcash for instance.
Bitcoin has existed since 2008 and emerged in popularity around the same time as deep learning did, yet we're still to find actual uses for it except speculation and criminal uses. It's a solution waiting for a problem.
Institutional investors are also idiots
The narrative this time is that "institutional investors" are buying into BTC. This doesn't mean it's not a bubble.
Many of the institutions were buying through Grayscale Bitcoin Trust. Rather, many of them were chasing the premium over net asset value that hovered around 20%. Basically, lock money in GBTC for 6 months, cash out and collect the premium as profit. Of course, this little Ponzi couldn't last forever and the premium seems to be evaporating now.
Similarly, totally-not-a-bitcoin-ETF-wearing-a-software-company-skinsuit Microstrategy (MSTR) trades at a massive premium over fundamentals.
There will always be traders chasing bonuses from numbers going up, regardless what is making the number going up. The same "institutional investors" were buying obviously terrible CDOs in the run-up to 2008.
Tether is lunacy
Tether is a cryptocurrency whose exchange rate is supposed to be pegged to the US Dollar. Initially this was done by having 1-to-1 US Dollar reserves for each tether issued. Then they got scammed by their money launderer, losing some $800M, which made them insolvent.
Anyway, now tether maintains their reserves are whatever they want them to be and they haven't gotten audited since 2017.
You know, normal stuff.
There's a problem to backing your USD-pegged security with something that isn't US Dollars. Namely, if the price of the thing you're backing your US Dollars against goes down, you're now insolvent. If you were backing $10B in tether with $10B of bitcoin, then the bitcoin drops by half, you're insolvent by $5B.
And then this spotlessly clean company they somehow added $20B to their balance sheet in the second half of 2020
Reminder: one side of that balance sheet is currently floating around the cryptocurrency ecosystem. Cryptocurrency traders own it as an asset and sell it to others. The other half of the balance sheet is whatever tether wants.
There are only two possibilities that explain tether's growth:
It could also be a happy mix of both.
One particularly interesting date is 30/8/2020, where tether added $3B to its balance sheet overnight. This is interesting because it predates the subsequent movement in bitcoin price and large movements in other cryptocurrencies.
The story from tether and tether's bank's CEO is that this money largely comes from foreign nationals through an OTC desk which implies the transaction goes as following:
- A foreign national sends money in a foreign currency to an OTC desk. This is exactly as clean as you'd think -- often raw cash transactions in the millions.
- That OTC desk converts the money to USD and sends it to tether's correspondent US bank. The OTC desk gives tether to the foreign national.
- Wait tether has a correspondent US bank?
Oh, I forgot to mention, no bank wants tether as a customer because they obviously break KYC/AML compliance. So tether first bought invested in a bank called Noble which then lost its relationship with Wells-Fargo when they realized tether were lying to them about AML. Poor tether lost its legal access to USD.
Tether has been banking in the Bahamas with a bank called Deltec since. First they had a money launderer called Crypto Capital Corp to send funds to customers, who stole the $800M from them and subsequently went to jail.
But worry not! Tether found a way to get banked in USD afterwards. Curious coincidence, an executive at Deltec was randomly blogging about buying small US community banks in 2018. You know, that thing money launderers do.
So tether's story is that in 2020, they took in roughly twenty billion USD of shady foreign money into the small community US bank their deltec bankers bought. These transactions are necessarily breaking KYC/AML. The foreign parties to those transactions wouldn't take such a rickety route to convert billions into cryptocurrencies if they weren't laughed out of the room in serious banks.
But of course, Deltec will say it did KYC on tether. Really solid KYC, clearly, since they're the last bank on earth taking tether's business. Tether says they do KYC on their customers (the large OTC desks). And I'm sure the OTC desks would be shocked, shocked if the cash money they get in Russia and China turns out to be dirty. So everyone can pass the buck of responsibility down the road and claim "We do KYC on our customers".
Sure you do, tether. If you did such great KYC, you wouldn't have such problems finding banking relationships. I mean when even HSBC is not doing business with you you're apparently more obviously moving criminal money than fucking drug cartels.
And, according to tether's people, this money is what's backing tether's reserves. Money that will get frozen the instant a prosecutor even looks at it.
Reminder: the above is the charitable, positive case for tether.
The less charitable case is that they took crayons and added zeros to their balance sheet, and that there's a couple billions waiting to burn a hole in the crypto ecosystem.
Anyway, the $25B garbage fire that is tether will make a great book/netflix series at some point and their hilariously stupid CTO going on podcasts while flinching on questions about how BTC ended up on their balance sheet will be a fun part of it.
But I'm not here to write a book, I'm here to make money by shorting all of this. For my purposes, even in the positive case tether is a ticking time bomb waiting to burn a hole in the crypto ecosystem, because...
KYC and AML are coming for cryptocurrencies
If you listen to "crypto news", all incoming crypto regulation is just great, because that means crypto is becoming legit. However, companies investing in crypto are very angry about them.
This is because crypto transactions break the FinCEN travel rule, where KYC information should "travel" along transactions, to prevent money laundering obfuscation schemes.
Of course, according to the crypto industry this is "stifling innovation". A more reasonable take is that by being leaving the crypto industry outside normal financial regulations, we're enabling a "race to the bottom". As we saw with shadow banks in the 2000-2007 era this leads to "creative banking". I don't want my bankers to be creative, I want them to be solvent.
Tether's effect on the crypto ecosystem
When tether implodes, it's taking most of the crypto industry along for a fun ride. Tether can implode in one of a few ways:
- A BTC price crash triggers it. If
- Regulators decide they've had enough of AML avoidance and regulate them.
- The NYAG investigation, which is waiting for an update in a few weeks, finds something and shuts them out.
Let's assume tether falls to $0 for simplicity. The analysis is the same directionally if tether significantly "breaks the buck".
This doesn't happen instantly, but it happens quickly. The peg breaks, and most people holding tether will try to sell it for other crypto (BTC, ETH, etc.). This puts downward pressure on the price of tether, incentivizing even more people to "pass the buck". Automated inter-exchange arbitrage bots might try to exploit emerging gaps in bid-ask spreads, only to end up with worthless tether instead, as their operators rush to pull the plug.
Then, we have a small village of cryptocurrency enthusiasts being out some $24B. With the trading bots turned off and the trading lubricant (a dollar pegged asset) gone, the bid-ask spreads blow up. You get a predictable flight to safety -- that is, to real money. This puts downward pressure on BTC.
While all of this is happening, there are all sorts of fun second-order effects happen. A lot of DeFi derivative products are priced in cryptocurrencies, so having normally stable prices shuffle around (eg. USDC price moving above $1 in a flight to safety) triggers a tsunami of margin calls. Some exchanges might insolvent (they're the ones redeeming tether for USD after all).
If BTC price drops below $8000, fun things happen
Currently, the price to mine a BTC is roughly $8000. Most of the mining comes from huge mining farms using subsidized coal in China, and mining costs more the more hardware there is to mine it.
Since the price of BTC hasn't substantially dropped below cost to mine we're in for a fun experiment if the price drops below this threshold. Most of these farms should turn off so that the price to mine comes back to breakeven in a case of prisoner's dilemma.
But if too much hardware turns off, this leaves mining hardware idle and the door becomes wide open to a 51% attack. It's not clear at what price below breakeven cost to mine a 51% attack becomes a serious threat, but once this threshold is crossed, we're in the "irreparable harm to BTC" risk zone.
And for a person like me, who just wants to see crypto disappear forever this is very exciting.
Maybe those mining farms could be replaced with nice forests soaking up all the carbon they emitted for posterity. One can hope.
How do I bet against all of this?
Microstrategy (MSTR) is, at this point, a bitcoin ETF wearing the skinsuit of a dying software company.
Michael Saylor, MSTR's CEO, is quite the character. I wrote a lot about his lack understanding of what a currency is, but it's on another level to look at the early stages of a bubble pop and decide this is a good time to buy $10M more of the stuff, as seen here
However, this bubble is tame by Michael's standards. Look at the historical stock of his company
What's happening on the left is that Saylor pumped the numbers with accounting fraud then the SEC took issue with the fake numbers. The stock dropped 90% practically overnight. Their accountants, PWC, paid $51M in fines. Saylor and friends paid fines, partly with company stock.
You could also short GBTC, but when Mr. Saylor provides you with an options market instead, why not use it? Shorting on crypto exchanges that might become insolvent in the very event you want to happen with this bet is a bad idea, on the other hand.
Mike can't cash out
The bitcoin market is illiquid and leveraged when it comes to real money coming in and leaving the ecosystem. Buys in the $10M-$100M seemingly move the price of BTC by upwards of $1000 in the last weeks. This means hundreds of millions of real money means tens of billions in movement in BTC market capitalization.
Now imagine what cashing $1.1B of BTC into real money would mean for the price. And this is purely in market terms, before the PR damage from bitcoin's demigod abandoning ship would have second-order effects.
Saylor has painted himself into a corner. Even if he wanted to cash out, he can't.
MSTR fundamentals: Why it should be valued below $10
In early 2020, MSTR was a slowly dying business. The EBITDA has been rapidly evaporating in the last 5 years
At that point, MSTR a stock price of $115 meaning a market cap of $1.1B. This included some $560M of cash they were sitting on. I presume the remaining $550M was an implicit sales premium for the inevitable private equity firm investors expected was going to relieve them of this stock and make the business profitable again.
Of course, they didn't sell.
Instead, they took the $560m they were sitting on and bought $400m of BTC at prices $11k and $13k in late summer 2020. Then, in early December, they took on $600m of debt to buy BTC with at $23k. They also bought $10m more in January at a price of $30.5k.
At this point, we can mostly value MSTR like a trust.
- Price the underlying software business as being worth $600M, as the market did before the bitcoin nonsense. If BTC went to $0, this is what we'd value it at, and the MSTR stock should be around $65.
- But wait! MSTR took on $650M in debt in December. Their actual value with a BTC priced at $0 should be much, much lower than $65 depending on how you value the debt. You could make an argument it should be in the single digits.
- They hold 70,784 BTC. At current prices ($32,000) this is worth roughly $2.2B. With the current market cap of MSTR ($577 stock price), this means MSTR is currently priced at an eye watering $3B premium over fundamental value.
GBTC's 20% premium-to-NAV is a joke compared to the MSTR premium.
submitted by VodkaHaze to Buttcoin [link] [comments]
Why Dogecoin to $1 is Only a Matter of Time
Why Dogecoin to $1 is Only a Matter of Time
The Bubble
It’s February of 2021, and let’s be completely honest: We’re in a bubble. It’s kind of like 1999 but not the same. In 1999, interest rates were much higher. Today, they are nearly zero. In some countries, they are even negative. From a long-term perspective, this is very bad.
The Federal Reserve is completely to blame for this. Their policies are entirely reckless, and officials refuse to acknowledge what is going on here. The Coronavirus hysteria caused by the media and enabled by officials made the crash last summer the worst man-made disaster in the history of our financial system. The Great Depression was caused by over-speculation and a lack of regulation in an emerging financial system. The Great Recession was caused by greed and fraud (strangely, no one is in jail for this). This market collapse was caused by elected officials and the fed, who got trigger-happy and cut rates to zero back in the spring of 2020.
Whatever we wind up calling the burst of this bubble is to be determined. It will, however, be entirely manmade because the fed refuses to acknowledge the speculative behavior currently going on in SPACs, Cryptos, Penny Stocks, and anything else that serves as a legal Ponzi scheme for inflating the bubble. Even real, dividend-paying stocks have gotten way overvalued in some sectors. Also, since the fed has no plans of raising rates within the next two years (so they say for now, at least), if you’re searching for yield, you have nowhere else to look than the equities markets or one of these legalized forms of Ponzi schemes. It’s extremely unfair to conservative or retired investors looking for an honest return on their savings. This all is actually why it is a great time to look at Dogecoin, as I will get to in a moment. So long as rates are near zero, the bubble will continue to go on for longer and longer. And while it continues, people will constantly look for the next big thing.
For How Long?
Now, this may sound all doom and gloom, but that’s not my point. One day the bubble will burst, but I’m not making a prediction of when that will happen. Anyone making up dates for when the bubble will burst is either clueless or a con artist. No one knows when this bubble will burst. It could be weeks, months, or even years. One thing is for sure, the bubble will not burst just because things are overvalued. That’s not how bubbles work.
There needs to be a catalyst to burst the bubble. A major military conflict. An unexpected move or comment by the fed (raising rates, calling out the bubble for what it is, etc.). Another nationwide lockdown. I can go on with examples, but a little selloff here and there (August 2020) that causes the financial media to lose its mind is not enough. Just because you claim the bubble is bursting isn’t enough either. If you follow the media, you will get burned over and over again. That’s how it works. They want you to go to their sponsors for help, and once they burn you (sell you gold, overcharge you for poor investments, etc), you’ll come back to them hoping to figure things out. It’s a shell game. When the bubble burst, it will happen extremely fast and unexpectedly. There’s nothing wrong with playing the bubble, but you need to be mindful of when it ends because once the music stops, there will be a mad rush for the exits. You don’t want to be stuck holding the bag because everything will get crushed when the bubble burst. Even the blue-chip stocks that pay solid dividends will get hammered.
Fundamentals Don’t Matter (For Now)
In this bubble environment, fundamentals don’t make sense and, quite frankly, they don’t matter. You can argue back and forth all day long about whether something has a practical future or whether something is overvalued. I’m not here to do that about Dogecoin, Bitcoin, or any other crypto. The same could be said about Penny Stocks right now. (Hint: virtually all of these companies are way overvalued). You can find tons of articles of that nature, and I’m not likely to change your preconceived notions anyway. If we look at all the irrational bubbles that have occurred lately, you are a complete fool if you believe that TSLA or BTC is worth nearly a trillion dollars. It’s worth nowhere near that valuation.
How do I determine what something is worth, and who do I mean? It is called the market cap. In layman’s terms, that is where you take all the stock shares and multiply it by the share price. And I’m not recommending buying or selling TSLA or BTC, I’m just pointing out that these valuations are absurd. Does that mean they will not pass 1 trillion dollars? Of course not. There’s a very reasonable chance they do pass a $1 trillion market cap. That sounds absurd to write but it’s true. When the bubble bursts, you better believe fundamentals will be back in play. This disconnect can’t last forever. But it can go on for a while. And while it lasts, we all want to make some money
A Quick Word About ALL Cryptos
While I don’t believe Cryptocurrencies are going anywhere (as in, people will always buy and sell them), I also do not see any APPLICABLE future in them other than trading with other people. In fact, the biggest use I see of Cryptocurrencies is for illegal and untraceable transactions. The government will do all they can over the next several years to bring in lost tax revenue and track transactions better, but that’s the extent to which Cryptos will have relevance. How do I know this? Because the federal reserve, which is backed by the taxing authority of the US Government and the might of the US military, isn’t about to let some alternative currency usurp the US dollar. How do you think we can afford to provide all this government stimulus to fight Covid? If you think about this, you will see why other countries are much worse off. They must play by our rules, while we get to export our inflation to other countries because they must use the USD to buy commodities on the international exchanges (look at what happened when Saddam tried to circumvent this). If they print more money, their currency gets devalued. That’s why as bad as things look, relatively speaking, the US isn’t in terrible shape compared to the rest of the world.
If your financial future is so married to Bitcoin, ask yourself this: what happens if your account gets hacked? Who will you call? Who will make you whole again? If you have a brokerage account with legitimate stocks, there are regulations in place. There is the SIPC which protects again brokerage failure. With Bitcoin, you are completely gambling. This lack of regulation and lack of price stability means that there is no viable path to Bitcoin being a legitimate currency. Does it mean people can buy and sell it? Of course. But if you are in the cult of believing that Bitcoin is the future world reserve currency, you need to get your head examined.
Gold and Silver con artists have been trying for decades for people to get on this alternative currency train. At least gold and silver have some practical industrial applications. And hundreds of years of history on its side. Crypto isn’t anything but something people agree upon as having value. Why do I point this out? Because the one thing you need to do is separate yourself from what you think you know about Crypto and Blockchain, etc. While it all sounds cool and revolutionary, it really doesn’t matter. The US government could easily create their own form of Crypto that gives them more control. The decentralized part just doesn’t jive with our current global hegemony. If you don’t understand this, you should think more and read less. Once you accept this, you can start to see all Crypto as fundamentally worth the same: virtually nothing. The technicals, however, are why we want to look at Dogecoin.
Relative Valuation of Dogecoin
Now that you understand a little more background into where we are, I believe Dogecoin is extremely undervalued. Why? It’s simple. Relative valuation. This is one of the easiest and most efficient ways to compare investments. Ok, so maybe this isn’t really investing anymore; it’s gambling. Still, we can apply the same concept. Imagine two companies: they are in the same industry and have similar margins, earnings, growth prospects, etc. One company is valued at $50 billion and costs $120 per share, and one is valued at $85 billion and costs $80 per share. Which one would you invest in? Of course, you would invest in the one that is worth $50 billion at $120 per share. The cost per share means absolutely nothing. It is psychological.
Now, you say Dogecoin isn’t on par with Bitcoin and that where I’m going with this isn’t a fair comparison. Go back and read the last section. That’s why I wrote about the practical applications of Cryptocurrencies in general. None of that matters. The only thing that matters is the general sentiments shared by people that buy and believe in Cryptocurrency. So, let’s look at the current valuations:
Bitcoin – Price $40,500, Market Cap $755B (estimated as of 2-6-21)
Dogecoin – Price $.05, Market Cap $4.4B (estimated as of 2-6-21)
(Source: Yahoo Finance)
Now, I’m not saying Dogecoin is worth what Bitcoin is. I’m not even saying it's worth half or a third of Bitcoin. Who really knows? No one does. You certainly cannot say for certain that one is better than another. One is more “established” and has more name recognition. What I am saying is this: if Dogecoin goes to $1, it will have a market cap of just over $85 billion. Even at Bitcoin’s current market cap, that’s just over 1/10 of its value. And that isn’t even pricing in more appreciation of Bitcoin’s value over time. This means I see tons of room for Dogecoin to run. (I know some will mention dilution via minting of new coins, but that’s another discussion and not entirely relevant to the points I am trying to make in this piece.)
Could Dogecoin match Bitcoin? That sounds absurd, but let’s look just for fun: if Dogecoin were to have the same market cap as Bitcoin, that means it would have a current price of $8.55. So, what am I saying here? You must know the range of possibilities (within reason, if that even exists anymore) before you start thinking about price targets. To say Dogecoin is going to $100 is just absurd; things need to be put in the proper context.
Why Dogecoin?
Using relative valuation, I believe you could make a case for any Crypto. Will they all run to Bitcoin’s level? Of course not. The last question is why Dogecoin? This is the most important one that we have to answer before deciding on buying Dogecoin. The answer is simple: hype and name recognition. If I look at the most valuable cryptocurrencies by market cap, Dogecoin is number 12. I have taken an informal survey of probably 100 people over the last two weeks. I showed them the top 15 Cryptocurrencies by market cap to see which they were familiar with: Stellar, Binance Coin, Cardano, Polkadot, XRP . . . almost all of these were completely unheard of. But, somehow, they have valuations of 2-3 times Dogecoin.
Dogecoin has a few things going for it. First, hype. Elon Musk and many other prominent celebrities are pilling in. Mark Cuban has said he’d buy it over a lottery ticket. That alone can help aid a very quick lift off. Second, the name Dogecoin is very easy to remember and a trendy thing. What the heck is Cardano anyway? XRP? I mistakenly called it XPR before I edited this piece. And if you are still hung up on the practical use of Dogecoin or other Cryptos, you are missing the point of this piece entirely. Look at the story behind Bitcoin. An anonymous person online created a decentralized platform for money movement or something like that. What? How in the world did that idea ever take traction? It’s just like people online arguing over which Penny Stock is the next big thing. Neither person is right, but the perception is really all that matters.
Third, stimulus checks will be hitting within weeks or months. This naturally promotes price inflation when people have more dollars chasing few goods. People will inevitably pile into whatever they think is the next great thing. Dogecoin has momentum right now. And this brings me to number four.
Fourth, and perhaps most importantly, FOMO is very powerful right now. There are people all over the world that know people who have won big money in this bubble. Penny stocks, GameStop, Bitcoin, and many others that you can name. How many people do you personally know that have won big in the lottery? Probably none. This is a unique time in history. People have won big in this market and are looking for the next thing.
Dogecoin is something that could pick up steam quickly. It could blow up overnight. It may not, and that is the risk you take. At the end of the day, it’s just money that you can always make more of. Life-changing money is worth the risk when you find the right risk-reward ratio.
Do your due diligence, but also think ahead to a scenario that you could imagine. Would you be that surprised if Dogecoin reached $1? And if it did, would you be surprised if it started running towards multiple dollars? $1 is a psychological number that typically leads to a further breakout. The current market cap suggests this is all very possible. Now imagine getting in at four or five cents.
Disclosure: Long Dogecoin with Diamond Hands. No positions in any other things mentioned. -BJ
submitted by brayjones1985 to dogecoin [link] [comments]
Some honest and brutal talk. Possibly controversial, but honest from the heart.
Tomorrow, the market opens and we have a potentially brutal week ahead. I hope I don’t anger my brothers-in-arms with this post. I hope this isn’t controversial. I want to express my opinions.
Also, I can’t stress this enough… 1) I know nothing about stocks. I have never studied stocks, I know nothing about market research, and I have never worked in investments nor in finance. I work in a small medical clinic which allows me to have enough disposable income to play around with and, heaven forbid, completely lose it all without hurting me or my lifestyle in any way. I buy stocks if I like the company. Please don’t take financial advice from me. If I can give one financial advice, it is this: 2) please don’t risk money you or your family need. Close your eyes and imagine a number you can safely afford to completely lose without any emotional pain or consequences. Is $1? is it $100? Is it $10,000? Or is it $0? Regardless, only buy AMC stocks with that amount. Please.
So here is the controversial part.
1) I don’t think we are being short ladder attacked. Rather, I think the reason for the stock price is more simple and more disturbing, but really obvious. I think it is due to “paper hands”
2) I think the HF are buying huge amounts of SHORTS legitimately, this is driving down the price, then the average retail investor (no one from this Reddit) freaks out and SELLS, thus further driving the price down. This is happening and causing the downward ladder appearance. The price drop is happening organically and legally. Just my opinion.
3) I also believe in mathematics and statistics. I think there are enough people here, assuming almost all 30K members are serious, and estimate about 10% of the people in WSB, the original 1 million people are serious, and together, we represent enough people to HOLD a price at a certain level.
4) As the price drops, the paper hands are slowly being weeded out from the woodworks, and more diamond hands are left.
For the price to have dropped like this, the SHORT SELLING on AMC must be huge! Fintel estimates that it is around 60%. That’s crazy! Now this is just an estimate, but Fintel is a pretty respectable business who takes this stuff seriously. I think they are correct. This would explain the steady price drop of AMC over the past week.
https://fintel.io/ss/us/amc So a short squeeze is quite possible…. IF…. And only if a large group of people do NOT sell their shares! HOLD THE LINE!
Also, DIAMOND HANDS does not mean to hold onto a stock forever. I think it means: have a PLAN and STICK TO IT. Don’t see a sudden price drop and freak out SELL. This is why it is crucial to be investing with extra money. If you need the money for bills, for rent, or for things you need, it is too emotional. Just human nature. Diamond hands becomes impossible and the human fear factor kicks in and we develop… well…. Soft Human hands. If you have invested money you actually need, please exit this game. You are contributing to the market volatility and actually hurting the cause.
This is not gambling. This is not sports. This is not a rocket ride to the moon. This is not a fantasy. This is literally a giant game of chicken we are playing with the Hedge Funds. If you can't play it to the end, don't start it!
This weekend is a great time to take a pause and create a plan you will use for the upcoming week, and stick to it.
This is not financial advice, but I will share my plan. If you take my advice or copy me in any way, you deserve to go broke!
1) I will not sell because the price dropped too low. DIAMOND HANDS. I will let the stock go to $2 and wait 3 years to make my money back rather than sell at a loss... ever.
2) In the highly unlikely event that it crashes and goes to $2, then I will literally buy every share I can afford. I will smile like it is a Black Friday Christmas Sale! The amount I put in at $15 will be a non-factor! I’ll be rich when the stock organically goes to $20 or even $35 in 4 years!
3) If there is a short squeeze, and this is a big IF, this is where I need a solid diamond hands profit strategy I can follow without decimating the cause.
4) If the price goes to $50, I will sell 10% and only 10% to cover some of my initial investments, but HOLD the rest. (Even set a Market Order for 10% of my shares to sell at $50 and forget about it for the day.)
5) IF the price goes to $100, I will sell 20% for the profit. (Even set a Market Order for 20% of my shares to sell at $100 and again, forget about it for the day.)
6) In the crazy unlikely event that it does spoke to $200, I will sell half and keep the rest in forever. I think this a very unlikely scenario to hit $200. (you get it.)
7) If anything happens under $50, I will not sell. It just isn't worth it. DIAMOND HANDS!
In the unlikely even that AMC crashes, I will not sell!
Back in 2017, I bought a ton of bitcoin at $8,000, probably a little more than I could have afforded at that time in my life. I watched as it dropped to $4,000 and eventually $3,000. I felt then, how we probably may all feel now. Can you imagine what would have happened if I had paper hands and sold? Only 3+ years later, look where we are? Look where I am with bitcoin! This is the essence of Diamond Hands!!!
Thank you for your attention.
I look forward to the battle ahead…. St Crispin’s Day, Biotches!
I will add, if you chose to take advice from an ignorant dumb ape like me who works full-time in healthcare, you deserve to go homeless!
submitted by DoktorTzyke to amcstock [link] [comments]
DOGE DD: We are in the middle of a bubble
TLDR: Price expectations of $0.01-$0.20 in the next 1-3 years will depend on how popular DOGE remains, and online use cases. But right now this chart screams Bubble! Preface: I am a CPA but also have an IQ of 69 and are what some refer to as ‘legally retarded’. This is just my own personal opinion and does not constitute financial advice. Never gamble more than you can afford to lose. So I’m looking at Dogecoin prospects closely and it’s difficult to predict it’s true present or future value but these are the factors I have considered:
Market cap: how much all Dogecoins are worth (note: these were values at the time of writing and are still fluctuating massively). Right now it’s $5b making it a top 20 crypto-coin today. But they all get compared to the #1 coin, Bitcoin, which is currently worth $625b. Next is Ethereum at $150b, followed by $28b for Tether. Big differences. For Dogecoin to be top 5, it would need to hit $15b market cap and my best case expectation is $20b in the medium-long term (1-3 years). The $1 Dogecoin meme is highly unlikely as it would require toppling Ethereum. Not impossible, just unlikely, as Ethereum has been been designed for other use cases outside of finance and is already better established in the market. Tether is popular because it’ll store USD safely. Below Tether, the crypto field gets crowded which is why DOGE needs social media hyyype to grow it to position 4 or 5.
Supply: new DOGE are being added every year, whereas Bitcoins aren’t. Limited supply = higher price, which is why Bitcoin is considered a ‘store of value’, akin to gold. Since almost every crypto-coin is pegged against Bitcoin, that further solidifies its top position. Sorry to say Dogecoin can never be top dog. Dogecoins are, however, intended to be closer to a regular (central bank issued, or fiat) currency. Continual new supply will put downward pressure on prices. While better for a stable currency price since it counteracts inflation, it’s less ideal for a speculative investment. Look at Bitcoin Cash, it’s another fast, low fee, stable value. Overall it’s devalued since launch, but still has the potential for 2-4x gains if traded low to high. There’s also the threat of large scale mining operations flooding the market with DOGE while the coin base is still in it’s establishment phase.
Hype: Cryptocurrency, and especially Doge, is popular right now driving up short term prices. Early investors (pre-2021) have already made the most on a fast 800% growth, which to me indicates a bubble. Having spent some time comparing this price spike to every other top 10 coin, it’ll likely settle back to a price of $0.01 after the hype dies. But Reddit is pretty good at running a strong hype train, so it’s possible the rocket stays firmly on trajectory for a moon landing.
Will DOGE still be popular in 1 month, or 1 year? Sure, but will that make it valuable? Not necessarily. Bitcoin and alt-coins are popular too but are just as subject to wild swings in value.
DOGE is ideal for tipping people small amounts online (much funner to send someone a DOGE than it is a BitCoin Cash), as well as through merchant transactions since it’s faster than most other coins. And that brings us to Dogecoin’s major edge: marketing. It’s heckin logo being a much cute, very wow Shibe Inu 🐕 Social media engagement, memes, celebs amplifying the memes, and constant online presence would need to continue for it to remain popular and not just ‘the 2021 trading frenzy meme coin’.
Conclusion: I feel Dogecoin is a SELL because it’s in a bubble right now. For long term HODL I’ll wait until the bubble bursts so I can scoop them up 0.01. But I will hedge my own recommendation by buying 25,000 if the price drops under $0.03. If that’s contradictory to you, I’ll refer you back to my smooth brain IQ. Highest expectation of a $0.20 price is provided DOGE solidifies itself as a popular and stable Top 10 alt-coin. Major risks to that assessment are price volatilities related to potential overhype, unlimited supply, Dogecoin failing to find common online usage, and to an extent future merchant adoption. These factors combined would potentially see the currency wind all the back to $0.003.
submitted by Axle-f to dogecoin [link] [comments]
Is there a tax-efficient way to sell cryptocurrency?
Hi all,
My wife (age 34) and I (31) have a net worth of around $280,000. Most of that is the value of our home minus the principal balance on our mortgage (510000 - 398535.20 = $111,464) and in retirement accounts ($95,721).
The remaining amount is $28,422 in liquid cash and around $44,000 worth of Bitcoin (40%), Ethereum (20%), Nano (20%) and Polkadot (20%).
We initially investedgambled about $6,000 in crypto 5 months ago. Of course it's great the balance has ballooned but now we're uneasy that it represents 65% of our liquid assets. And the problem is taxes.
If we were to withdraw now to get to a more comfortable ratio then we'd be hit with a 25% short-term capital gains tax rate, whereas in 7 more months it will be 15% (saving us about $4,000).
Would it be stupid to hold on for another 7 months? Is there a better (legal) option?
submitted by HippoCream to personalfinance [link] [comments]
An Island Nation with Bitcoin as the currency
Hello all,
I am here with my plan for my
subreddit Reddit Nation
If you are interested in joining a (hopefully) newly formed island nation then this is the place to be.
I have prepared a plan that explains how we will go about doing such a task. More detailed elaborations for each component of the plan will be given at request.
Obviously the first question is where we would have our island. I have identified places of interest. One place of interest is the Nation of Belize. Belize is a small nation with a low GDP of 2 Billion and they are selling off most of their island. Islands with 50-100 acres can be acquired for around 500,000; give or take 50,000. From the people (Government Officials) I have contacted, they are perfectly okay with this plan.
Now here is a 5 step proposal of how this will come to fruition (I will expand on how we will finance this)
- Acquire the island
- Set up the initial infrastructure
- Form of Government that I propose is a constitutional monarchy
- Country will be run as a democracy (two chamber form of parliament)
- Noble titles such as Duke, Earl, Count, Lord, Baron etc will be sold off to help initially finance the island.
- Establishment of the Government Building
- For now this is where the government will convene until more infrastructure is added and the island is improved.
- People will be made citizens at this location
- Establishment of Civil Services
- Waste collection, Police, Social Services
- Establishment of a Port
- This will allow supplies to enter the island.
- This will allow for the island to participate with the rest of the world economically(I will expand on this later).
- The port will function as the entrance point and exit until the runway can be constructed.
- Establishment of Resident Housing
- This temporary housing will be until the island can be developed and more permanent buildings can be put up.
- Resident Housing and the Government building will be set up near the port until island development is completed
- Set up a massive solar powered crypto mining operation to help finance further development of the island
- A partnership with big mining companies can be brokered to have this set up
- Make the Island a desirable location
- Set up the island as a luxury city
- Free housing for citizens
- Free healthcare for citizens
- Free schooling and university for citizens
- Build resorts and legalize gambling on the island
- The revenue generated from such activities will help finance further development of the island
- With the revenue generated from this, the island will be able to provide for the residents a luxury city
- The gambling industry investments will help to finance the island as well
- Make the island a banking haven
- Set up a bank on the island
- No KYC laws will be enforced on the island
- This will attract forgien investment into the island
- Allow cryptocurrency companies to conduct business without oversight and for miners to set up large scale operations using solar powered energy
- No income tax,sales tax, capital gains tax or corporate on the island
- Commercial businesses such as casinos, resorts, and banks will just pay slightly inflated property taxes
- This will help attract a lot more forgien investment as well
- Will attract companies to set up offices here and thus bring jobs to the island.
- Expand on the island infrastructure
- Build an airport. The islands have enough space to accommodate runways for planes even up to jumbo jets
- Build more free luxury housing for residents
- Establish schools and universities
- Establish libraries
- Establish Museums
- Establish a healthcare system
- Enjoy the luxury haven of an Island that we have built
Now for the question of how much this island will cost and how we will get the funding
According to my calculations (you can look at them below) it will cost us $2,600,000
- The Island itself
- The Port
- 200,000 to build
- This will benefit us later when we receive forgien investments
- 500,000 for 250 passenger ferry
- We will budget around 100,000 for operating costs
- Initial Buildings
- 1,000,000
- These buildings will be permanently built but occupied until the island is built and then will be sold off to recoup the investment.
- Buildings include
- Civil Services
- Around 50,000 to purchase initial equipment and medical supplies
- Another 100,000 to purchase ATVs
- Another 100,000 to purchase off roading vehicles
- Bitcoin mining operation
- We will get the money for the operation by partnering with a large company
- Water Purification
- Food Supply
- We will purchase MRE’s and other preserved food products for the island
- An exact count of this cannot be made until we move further into the plan
- Further development of the island
- This will be financed by the forgien investments in regards to banking, gambling and tourism along with money raised from property taxes
Now in regards to how we will raise that sum
- We will sell off noble titles (this is why we will set up a constitutional monarchy)
- While no price has been established yet, the titles for sale can include
- Duke, Duchess.
- Marquess, Marchioness.
- Earl, Countess.
- Viscount, Viscountess.
- Baron, Baroness.
- A small percentage of the island (less than 25%) will be earmarked for sale immediately. The part earmarked for sale will be part of the planned downtown district/capital and developers of this land will be allowed to build whatever structures they want and won't have the problem of jumping through hoops like zoning laws.
- On a 60 acre island, 15 acres would be marked for sale
- The acres on this haven of an island will be sold for 250,000 each so the island would raise 4.5 million and the sale of said acres will help kickstart the massive infrastructure of the island and provide the island with adequate funding.
- Once the island is set up, the island will continue to profit from digital activities which will allow it to not have to charge an income tax or corporate tax
- Digital activities include the solar powered bitcoin mining operation
- We will partner with an existing bitcoin company for this
- Solar powered web hosting
- People can become citizens for a fee of $10 which will mainly go to the printing of their ID and filing in the government archives but the island will profit a few dollars off of this
If you have made it this far, please join the
subreddit for this plan
More information to come soon, thank you.
submitted by OGKebabEater to Bitcoin [link] [comments]
Casino Superlines 25 free spins bonus no deposit required
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Dogecoin DD: We are in the middle of a bubble.
TLDR: Price expectations of $0.01-$0.20 in the next 1-3 years will depend on how popular DOGE remains, and online use cases. But right now this chart screams Bubble! Preface: I am a CPA but also have an IQ of 69 and are what some refer to as ‘legally retarded’. This is just my own personal opinion and does not constitute financial advice. Never gamble more than you can afford to lose. So I’m looking at Dogecoin prospects closely and it’s difficult to predict it’s true present or future value but these are the factors I have considered:
Market cap: how much all Dogecoins are worth (note: these were values at the time of writing and are still fluctuating massively). Right now it’s $5b making it a top 20 crypto-coin today. But they all get compared to the #1 coin, Bitcoin, which is currently worth $625b. Next is Ethereum at $150b, followed by $28b for Tether. Big differences. For Dogecoin to be top 5, it would need to hit $15b market cap and my best case expectation is $20b in the medium-long term (1-3 years). The $1 Dogecoin meme is highly unlikely as it would require toppling Ethereum. Not impossible, just unlikely, as Ethereum has been been designed for other use cases outside of finance and is already better established in the market. Tether is popular because it’ll store USD safely. Below Tether, the crypto field gets crowded which is why DOGE needs social media hyyype to grow it to position 4 or 5.
Supply: new DOGE are being added every year, whereas Bitcoins aren’t. Limited supply = higher price, which is why Bitcoin is considered a ‘store of value’, akin to gold. Since almost every crypto-coin is pegged against Bitcoin, that further solidifies its top position. Sorry to say Dogecoin can never be top dog. Dogecoins are, however, intended to be closer to a regular (central bank issued, or fiat) currency. Continual new supply will put downward pressure on prices. While better for a stable currency price since it counteracts inflation, it’s less ideal for a speculative investment. Look at Bitcoin Cash, it’s another fast, low fee, stable value. Overall it’s devalued since launch, but still has the potential for 2-4x gains if traded low to high. There’s also the threat of large scale mining operations flooding the market with DOGE while the coin base is still in it’s establishment phase.
Hype: Cryptocurrency, and especially Doge, is popular right now driving up short term prices. Early investors (pre-2021) have already made the most on a fast 800% growth, which to me indicates a bubble. Having spent some time comparing this price spike to every other top 10 coin, it’ll likely settle back to a price of $0.01 after the hype dies. But Reddit is pretty good at running a strong hype train, so it’s possible the rocket stays firmly on trajectory for a moon landing.
Will DOGE still be popular in 1 month, or 1 year? Sure, but will that make it valuable? Not necessarily. Bitcoin and alt-coins are popular too but are just as subject to wild swings in value.
DOGE is ideal for tipping people small amounts online (much funner to send someone a DOGE than it is a BitCoin Cash), as well as through merchant transactions since it’s faster than most other coins. And that brings us to Dogecoin’s major edge: marketing. It’s heckin logo being a much cute, very wow Shibe Inu 🐕 Social media engagement, memes, celebs amplifying the memes, and constant online presence would need to continue for it to remain popular and not just ‘the 2021 trading frenzy meme coin’.
Conclusion: I feel Dogecoin is a SELL because it’s in a bubble right now. For long term HODL I’ll wait until the bubble bursts so I can scoop them up 0.01. But I will hedge my own recommendation by buying 25,000 if the price drops under $0.03. If that’s contradictory to you, I’ll refer you back to my smooth brain IQ. Highest expectation of a $0.20 price is provided DOGE solidifies itself as a popular and stable Top 10 alt-coin. Major risks to that assessment are price volatilities related to potential overhype, unlimited supply, Dogecoin failing to find common online usage, and to an extent future merchant adoption. These factors combined would potentially see the currency wind all the back to $0.003.
submitted by Axle-f to SatoshiStreetBets [link] [comments]
Bored? Looking for something to do? Start with this list of things to do in the Sacramento area.
(Credit for the below list has to be given to u/BurritoFueled, who created the original list in 2014 and updated it a year later. Almost two-thirds of the items below are still from that original list. All I’ve done with the list is revive it a little bit by updating dead links and making little tweaks when necessary. Also, thanks to those that submitted new additions to the list last week. Over a third of the below items are new and a lot of the original items have had newer information added onto them.) People are always looking for something to do around here. Maybe you’re a transplant, unaware of what this area has to offer, or maybe you’re a lifelong resident, tired of the same old thing. Well friend, if you fall into the latter category, do not despair. There’s actually plenty of things to do in the Sacramento area – things of interest to almost any lifestyle, personality, or budget.
So, whether you’re an athlete, geek, eccentric, hipster, weirdo, sexual deviant or just a normal person looking for a new activity, below is a list of activities for you to try. Please note that it includes only activities that take place at least a few times a year – no one-off events or festivals here.
Enjoy this list. If you have any suggestions of your own to add, comment below in this thread. I'll try to keep this as up to date as possible.
Away we go.
UPDATED 10-6-20 (Note: Due to the current pandemic, some of these activities may be curtailed or not offered at all.) - Cast you some spells and slang them multi-sided dice at Great Escape Games and/or A1 Comics in Sacramento.
- Paintball it up at Capital Edge or Davis Paintball,
- Take a walk among the tree tops at Tree Top Sac.
- Visit the California State Capitol Museum. Or just the Capitol building. They are one and the same. The tour is free!
- Rekindle your dreams of being a pilot or astronaut at the Aerospace Museum of California.
- Take a ride through automotive history at the California Automobile Museum.
- Like to Knit? Enjoy a good chat? Join a Knit and Chat at Knitique: A yarn boutique in Elk Grove.
- Play disc golf at one of several courses in the area.
- Become the next Tiger Woods (the golf part, not the cheating, getting your windshield smashed by your wife with one of your golf clubs part). Start by hitting up a driving range at Top Golf or Haggin Oaks.
- Can't get enough 2nd Saturday? Try 3rd Saturday in Roseville, 3rd Saturday in Placerville, or 2nd Friday in Davis.
- Get your culture on at the Crocker Art Museum.
- If you prefer culture that keeps you on your toes, check out the Sacramento Ballet. Want to become a ballet dancer? They offer classes as well.
- More into theater? Check out the Broadway shows that come to the Music Circus annually. If your tastes align with smaller productions, check out the B Street Theater calendar.
- Go Geocaching for one of the thousands of great hides in the area.
- Join an intergalactic war for local landmarks and public art in the Google-produced, GPS-Dependent MMORPG, Ingress.
- Tour the live-work spaces of Sacramento artists, and buy some art, during First Friday at Warehouse Artist’s Lofts. They often put on performances during First Friday as well.
- Everyone knows about the Kings, Republic and the River Cats. Check out some of Sacramento's other sports teams: The Sacramento Sirens (women's tackle football), Sacramento Gold (men's soccer), or California Storm (women's soccer).
- Enjoy the fast-paced, bone crushing action of roller derby with Sacramento roller derby.
- Preserve and explore the area's unique history and heritage by joining or supporting groups such as the Sacramento County Historical Society, Preservation Sacramento, and Sacramento Modern.
- Watch people drive really fast at Sacramento Raceway (drags), All American Speedway (short track), and Placerville Speedway (dirt).
- Drive your own car really fast at Sacramento Raceway's Wednesday Night Street Legal Drags.
- Purchase the sweetest sweet corn in all the land at the Davis Ranch in Sloughhouse.
- When you're done in Sloughhouse, head a little further up the Jackson Highway (just past Rancho Murieta), hang a left on Michigan Bar Road, and cross the bridge (it's safe, trust me!) for one of the most historic, beautiful, and adventurous road trips in the entire area. Make sure you bring a hearty vehicle and avoid during winter and spring.
- Play bocce ball at East Portal Park or Sutter’s Landing Park. When Sutter’s Landing skate park is open, you can borrow free bocce balls at the front desk if you give them your ID.
- Get your party on at THIS, a free concert series every second Saturday at 20th and K during the warm months of the year.
- Grind some rails at Sacramento, Elk Grove, Folsom, Rocklin, and Citrus Heights skate parks.
- Catch some air at Elk Grove, Oak Creek, and Elkhorn BMX parks.
- Learn to dominate obstacles with parkour training at Free Flow Academy.
- Dominate the boulders at Putah Creek. If indoor rock climbing suits you better, try Pipeworks, The Boulder Field, or Granite Arch.
- Spend a day at Sacramento’s only “extreme air sport park”, Defy. Or just spend hours jumping in a trampoline park at Rebounderz in Arden-Arcade, Urban Air Trampoline & Adventure Park also in Arden-Arcade, or at Rockin' Jump in Elk Grove or Roseville.
- Become a confident public speaker with the Toastmasters.
- Learn about some of Sacramento’s history at Sutter’s Fort. (Or you can just follow u/sacramentohistorian).
- For a different view of Sacramento history, check out the State Indian Museum. (You can still follow u/sacramentohistorian though).
- Of course there’s the “official” Sacramento History Museum. A visit there can include an underground tour of Old Sacramento if that interests you.
- After taking the underground tour, take a stroll across this sub’s favorite bridge – the Tower Bridge). Make sure to take a picture and post it. This sub can’t get enough bridge pics.
- Beat the summer heat by getting soaked at Raging Waters, getting towed by a cable (wakeboarding) at Wake Island Water Park, or playing on floating inflatable climbing structures at Velocity Island Park. If you prefer to dip your toes in the sand and just lay out in the sun, try Sand Cove Park.
- Show off your moves at the downtown outdoor ice skating rink during the winter months. If you need to show them off year round, you can do so indoors at Skatetown in Roseville.
- Take a short drive to Rancho Seco Lake for picnics, swimming, fishing, and hiking. Watch out for three-headed frogs.
- Attend an event with the cool kids at Sacramento’s DIY artist event space, The Red Museum.
- Take a trip out of the city and go visit one of our many state parks in the region.
- Or stay in the city and visit one of those state parks – the Leland Stanford Mansion – if 19th century Victorian architecture floats your boat.
- Watch some slobberknockers live with Total Wrestling Federation and Supreme Pro Wrestling events. If you'd rather lay the smack down on some jabroni yourself, both promotions offer training.
- Join a fraternal organization like the Elks or Odd Fellows for cheap drinks/meals, camaraderie, and old school cool – all for a good cause.
- Explore the amazing Vernal Pools of Mather Field – an endangered habitat.
- Check out – or offer your services – at the Oak Park Fix-it Café, a community-powered gathering for repairing and maintaining bicycles, clothing, household items, and the ties that bind a healthy community.
- Buy some tricks, attend magic workshops, and become the next David Blaine at Grand Illusions.
- Go watch some horseracing at Cal Expo. It’s harness racing from November through April and then traditional horseracing during the state fair. Want to end up with small fortune at the end of your day at the track? It’s easy. Just start your day there with a large fortune.
- Take in a sultry and sexy burlesque show from these local troupes: Midtown Moxies, Siren Academy, The Darling Clementines.
- Learn about wild edibles in the area with the Sacramento Foragers.
- Live your Hunger Games fantasies at the Discovery Park Archery Range and Wilderness Archery in Rocklin.
- Watch some high school football! The Sacramento region boasts some of the best high school programs in the state. Check out top notch teams like Grant, Elk Grove, Folsom, and Del Oro to see potential NCAA Division 1 and NFL players of the future.
- Watch some college football! Sac State had a huge resurgence in 2019 and UC Davis has always had a solid program. You can also check out the JC teams such as ARC and Sac City.
- Learn about bizarre and fascinating surgical implements of the past at the Sierra Sacramento Valley Medical History Museum. Entry is free.
- Partake in Mike Tyson's favorite hobby with the Fort Sutter Pigeon Racing Club.
- If Live-Action Role Play (LARP) floats your boat, Sacramento Valley Amtgard has the battles, weapons workshops, and skills classes you've been looking for.
- Take a ride on the Sacramento River Train. You can ride the train or power along the tracks yourself with railbikes. They have different train excursions, including beer tasting and wine tasting trips. If you want to book a trip on a weekend, book early.
- Want to learn how to fish? Try Fishing in the City from the California Department of Fish and Wildlife. After you’ve learned, check out the blog from FishingBooker on where and when to go fishing and what to expect. For some recent local recommendations, check here, here, here or here.
- If fishing tours are more your style, catch your lunch on a guided fishing tour of local waterways.
- Take in a play at one of Sacramento's smaller, edgier, more contemporary community theatre companies, like the Big Idea Theatre.
- Take acting classes from acting coach to the Sacramento stars, Ed Claudio. If comedy is more your thing, try taking a class at Sacramento Comedy Spot or STAB! Comedy Theater.
- Of course, if you just want to drink and watch comedy, there are several clubs in the area, offering both local and national touring comedians.
- If movies are your thing, check out the only drive-in theater in the area.
- Enjoy some dirt cheap entertainment with one man band Winko Ljizz at the Acoustic Sanctuary.
- Party down and help kids with the Women's Active 20-30 social club.
- Take a tour or attend an event put on by the Old City Cemetery Committee.
- Do you like beer and visiting breweries, but don’t like driving between them? Midtown Sacramento has got you covered! Make a day of it by visiting these breweries, all within easy walking distance of each other: At Ease, Sacrament, Big Stump, Golden Road, Fieldwork, and Alaro. If you don’t mind walking a few extra blocks, you can add Device and Urban Roots to the list.
- Visit a cidery at Two Rivers Cider in Land Park or a meadery (honey wine) at Strad Meadery in Rancho Cordova.
- I don't know any chess puns to make here, but if you're into chess, you should join the Sacramento Chess Club.
- Join a pickup basketball game at one of Sactown's best streetball courts.
- Join a running club. Sloppy Moose Running Club does a three-mile fun run at New Helvetia Brewing on Thursdays. Fleet Feet Sacramento Run Crew meets every Tuesday at Sac Yard Tap House for a three-mile walk or run.
- Attend Wonk Wednesday, where policy wonks, planners, developers, urban designers and concerned citizens partake in an ongoing conversation about smart growth, urban planning, and climate change.
- Enjoy your favorite horror flicks in a whole new way with Amber's Sweets – one of the nation's premier shadow casting troupes.
- Attend a conversation hosted by California Groundbreakers – you’ll hear interesting people talking about interesting things.
- Do you need a heavy dose of tranquility? Stroll around the UC Davis Arboretum for an afternoon and take in all the flora and fauna. If you really love flowers, you can also visit Horton Iris Garden in Loomis (open April and May only) or Amador Flower Farm in Plymouth.
- Ever wanted to learn to sail, kayak or row? You’re in luck! The Sac State Aquatic Center offers lessons for those activities and more.
- Antiquing never gets old, right? Visit Midway Antique Mall in Citrus Heights (focusing almost solely on midcentury wares), Antique Trove in Roseville, or the Antique Fair that happens every second Sunday on X Street, under the freeway.
- Take butchering classes at Taylor's Market and become the master of meats.
- Learn to prepare fabulous meals at home with cooking classes at Good Eats or Sac Food Coop.
- See 1500-4000 year old petroglyphs, rock art, and grinding holes at the Maidu Museum and Historic Site in Roseville.
- Take the plunge at SkyDance Skydiving in Davis. If you want the skydiving experience without actually jumping out of an airplane, try iFly in Roseville.
- If you'd rather fly the plane than jump out of it, take pilot lessons at Sacramento Executive Airport.
- Produce and broadcast your own TV and radio programs at Access Sacramento.
- Play that weird sport you always watch when nothing else is on during the Winter Olympics with the Wine Country Curling Club at Skatetown in Roseville.
- If playing weird sports on ice isn’t your thing, partake in a weird sport on dirt and grass with the Sacramento Cricket Association.
- For more normal sports, with a big time social emphasis as well, join one of the sports leagues at XOSO and make some new friends.
- Scratch that adrenaline itch by going bungee jumping.
- Join a local car or motorcycle club.
- Take a walk along the Sacramento River Deep Water Ship Channel after parking at the Barge Canal Access near the port.
- Become a kingpin…of the lanes! There are plenty of places in the area to go bowling: Capitol Bowl in West Sacramento, AMF Land Park Lanes in Land Park, Punch Bowl Social Sacramento next to the Golden 1 Arena downtown, Country Club Lanes in Arden-Arcade, Bowlero North Sacramento in North Sac, Steve Cook's Fireside Lanes in Citrus Heights, Strikes Unlimited in Rocklin, or Foothills Bowl in Auburn.
- Be amazed or creeped out by more than seven million living and dead insect specimens at the Bohart Museum of Entomology in Davis.
- Take your 4x4, dirtbike, or ATV off-road at Prairie City SVRA
- If motorcross is your bag, hit the track at Prairie City MX (private track) or Riverfront MX Park in Marysville. Rental bikes and lessons are available at both.
- Programmers, coders, entrepreneurs, makers, inventors, and those who aspire to be one of these: find workspace, resources, meet-ups, and classes at the Hacker Lab..
- Pub crawls are the past, The Brew Bike is the present. Just ask anyone here. This sub loves the Brew Bike!
- If you would rather pedal over water than on land, try The Brew Boat.
- Get into a duel at Sacramento Sword School or the Sacramento Fencing Club.
- Exercise your 2nd amendment rights on the ranges at The Gun Room in Elk Grove or The Gun Range. Rent one of their hand cannons or bring your own.
- Build superior intelligence (or some sort of contraption to feed your cat for you) with the Sacramento Area Robotics Group.
- Play a round of Citizens of Catan and enjoy a tasty brew with the Beer and Board Game group.
- Go see the cool animals at the Sacramento Zoo. Bring the kids and make it a full day out with a visit to Fairytale Town or Funderland Amusement Park as well.
- Go on a walking food tour with Local Roots Food Tours.
- Buy some gold pans or a sluice box and head for the hills to pan for gold, just like those that first came to the area.
- Join a cryptocurrency group.
- If you don't wanna work and just wanna bang on your drum all day, Sacramento Taiko Dan can help.
- Want to become the next Picasso? You gotta start somewhere, so take a paint and sip class at The Painted Cork in Midtown Sacramento or Historic Folsom.
- It’s well known that you can play miniature golf at Scandia, but did you know that there are indoor mini golf courses in the area as well? Try SacMiniGolf in Old Sacramento, Flatstick Pub in DoCo downtown, or even glow-in-the-dark indoor mini golf at Monster Mini Golf in Rancho Cordova or at CaliGlo in Elk Grove.
- Learn how to manage your mind with Sacramento Insight Meditation.
- Play some poker at any one of several local card rooms.
- Race your RC cars (or rent one) at LSR Speedway in Sacramento or Speedworld in Roseville. Slot cars run at Fast Track Hobbies in Rocklin.
- Find cool stuff that other people lost with the Sacramento Metal Detecting Buffs. Or learn to dive and see if you can meet up with u/Merman_Mike and find stuff at the bottom of rivers or lakes.
- Visit tribal-owned Seka Hills Olive Mill in the Capay Valley to taste local olive oils and honeys as well as getting a tour of the mill itself. Check to see if there is an active Groupon before going.
- (NSFW) Take it all off and strut your stuff at Gold Club Centerfolds Amateur night for a chance to win $450. Sorry guys...this is for ladies only.
- (NSFW) Men and women, if you just like walking around naked in general, let it all hang out at Laguna del Sol nudist resort in Wilton.
- (NSFW) Find someone to get freaky with at an Allures Lifestyle swinger party.
- Make Mr. Miyagi proud by joining the Sacramento Bonsai Club – the oldest bonsai club in the United States.
- Make something quaint and take a selfie next to that giant needle flagpole thing at the Meissner Sewing & Learning Center
- Grab your binoculars and admire the hundreds of native bird species in the area – as well as those passing through via the Pacific Flyway – at several recommended locations.
- Find true love, or just someone to do all these activities with, at a local singles event.
- Rent a raft with River Rat or American River Raft Rentals, or grab some crap from the pool, and participate in a favorite Sacramento pastime by floating on the American River.
- For a more invigorating river experience try a whitewater tour
- Do a free, self-guided tour of Sacramento history via Anytime Tours, an app and project of the Center for Sacramento History, City of Sacramento and Sacramento History Museum.
- Take a coffee-tasting class or brewing/barista class at Chocolate Fish Coffee Roasters.
- Explore the fascinating world of orchid collecting (seriously, this hobby and the people who pursue it are crazy interesting) with the Sacramento Orchid Society.
- Race go-karts at K1 Speed in Sacramento.
- The Sacramento Cactus and Succulent Society meets, and hosts a talk, at the Shepard Garden and Arts Center in McKinley Park monthly and welcomes guests. They also do field trips and their Annual Show and Sale is a must-see event for plant lovers.
- Take a relaxing cruise on the Sacramento River aboard the Hornblower Yacht.
- Go on a scavenger hunt with Urban Adventures Quest, Sacramento Scavenger Hunt, or Let’s Roam. For a cool, unique hunt using your bike and finding stickers around town, follow Sacramento Bike and Seek on Instagram and be on the lookout for their free adventures.
- Blow something long and hot in the glory hole at Sacramento Art Glass.. Classes are available.
- Shoot your dinner on a guided hunting tour. Potential targets include ducks, geese, turkey, quail, and deer.
- Check out some of Sacramento’s murals or see muralists in action during Wide Open Walls, a yearly event.
- Take a guided tree tour with the Sacramento Tree Foundation.
- Admire the heavens above with the Sacramento Valley Astronomy Society. You can also take a drive up to Placerville and visit the Community Observatory for free (although they do charge $2 for parking).
- Explore the history of pharmacy in California at the Don and June Salvatori California Pharmacy Museum.
- Did you know an "extreme sport" was invented in Sacramento? While the Z-Boys were taking skateboarding to the next level down in Dogtown, Launie Porteous and Mark Robinson were pioneering flatland (or "inland") skimboarding right here in the River City. Buy yourself a board or make one and give it a try pretty much anywhere you can find shallow water. Paradise and Discovery beaches along the American are this sports' ancestral home.
- Mellow out at a kava kava bar with locations in Rancho Cordova and Davis.
- Get the willies watching one of the largest Mexican Bat colonies on the west coast take to the skies at a Yolo Bypass Wildlife Area Bat Talk and Walk.
- View some famous bikes and learn about their riders at the US Bicycling Hall of Fame in Davis.
- See Sacramento's drag queen scene at Faces or Badlands.
- Take a scenic horseback ride around Lake Natoma led by Shadow Glen Family Stables.
- Hang out with feral chickens (yes, chickens!) at Fair Oaks Village Park. In the summer, you can watch live music with said chickens at their summer concerts in the park series.
- Not to diminish the concert series at Fair Oaks Village Park, but when you hear "concerts in the park", everyone knows that is the Concerts in the Park series in downtown Sacramento. Live local and national acts perform on Friday evenings in the summer, and it’s totally free. If you’re not good with crowds you may want to give this a miss because it is packed!
- Vacation or day trip so close, yet feel so far away, along the Delta. Rent a boat, jet skis, a cabin or camping spot, buy some bait and tackle, and/or eat out at various locations on the river.
- See model railroaders in action once a month at the Sacramento Model Railroad Historical Society. For the real thing, check out the California State Railroad Museum. Both are great for kids or your inner child.
- Get into the sweetly rewarding hobby of beekeeping with a starter kit and guidance from Sacramento Beekeeping Supplies. Once you’ve got your kit, take a beekeeping class in Davis.
- Brew yourself a batch of beer goodness with classes and supplies from various home brewing stores in the area.
- Go wine tasting at a couple of the closest wineries to Sacramento: Frasinetti and Old Sugar Mill.
- Think you’re good at solving puzzles and mysteries? Try one of the many escape rooms in the area.
- If you’re one of those folks that thinks you know everything, see how you stack up in one of the various pub trivia games.
- Go see the highest freestanding bridge in California. Bonus: there’s some good hiking in the area as well.
- Take a drive around the world’s smallest mountain range: the Sutter Buttes. You can actually drive around and hike the Sutter Buttes in the same day, however hiking is not free, you must do it as part of a guided group and you have to reserve a spot in advance.
- Walk or mountain bike Sacramento Valley Conservancy’s Deer Creek Hills Preserve. All visits must be part of a pre-scheduled outing so plan in advance.
- Drive to Rio Vista via the only two ferries that are actually part of the state highway system.
- Catch a free lunchtime concert every Wednesday at Westminster Presbyterian Church downtown. You can bring a bag lunch!
- Go to the top of the Memorial Garage on the corner of 14th and H for some nice views. Watch the sunset or visit on a nice clear night.
- Explore some of Sacramento’s nature preserves. Start with Effie Yeaw and Cosumnes River. Camp Pollock is another one, but unfortunately, it is not in the best of areas.
- VOLUNTEER!
submitted by PowerWindows85 to Sacramento [link] [comments]
An Island Nation with Legalized Drugs
Hello all,
I am here with my plan for my
subreddit Reddit Nation
If you are interested in joining a (hopefully) newly formed island nation then this is the place to be.
I have prepared a plan that explains how we will go about doing such a task. More detailed elaborations for each component of the plan will be given at request.
Obviously the first question is where we would have our island. I have identified places of interest. One place of interest is the Nation of Belize. Belize is a small nation with a low GDP of 2 Billion and they are selling off most of their island. Islands with 50-100 acres can be acquired for around 500,000; give or take 50,000. From the people (Government Officials) I have contacted, they are perfectly okay with this plan.
Now here is a 5 step proposal of how this will come to fruition (I will expand on how we will finance this)
- Acquire the island
- Set up the initial infrastructure
- Form of Government that I propose is a constitutional monarchy
- Country will be run as a democracy (two chamber form of parliament)
- Noble titles such as Duke, Earl, Count, Lord, Baron etc will be sold off to help initially finance the island.
- Establishment of the Government Building
- For now this is where the government will convene until more infrastructure is added and the island is improved.
- People will be made citizens at this location
- Establishment of Civil Services
- Waste collection, Police, Social Services
- Establishment of a Port
- This will allow supplies to enter the island.
- This will allow for the island to participate with the rest of the world economically(I will expand on this later).
- The port will function as the entrance point and exit until the runway can be constructed.
- Establishment of Resident Housing
- This temporary housing will be until the island can be developed and more permanent buildings can be put up.
- Resident Housing and the Government building will be set up near the port until island development is completed
- Set up a massive solar powered crypto mining operation to help finance further development of the island
- A partnership with big mining companies can be brokered to have this set up
- Make the Island a desirable location
- Set up the island as a luxury city
- Free housing for citizens
- Free healthcare for citizens
- Free schooling and university for citizens
- Build resorts and legalize gambling on the island
- The revenue generated from such activities will help finance further development of the island
- With the revenue generated from this, the island will be able to provide for the residents a luxury city
- The gambling industry investments will help to finance the island as well
- Make the island a banking haven
- Set up a bank on the island
- No KYC laws will be enforced on the island
- This will attract forgien investment into the island
- Allow cryptocurrency companies to conduct business without oversight and for miners to set up large scale operations using solar powered energy
- No income tax,sales tax, capital gains tax or corporate on the island
- Commercial businesses such as casinos, resorts, and banks will just pay slightly inflated property taxes
- This will help attract a lot more forgien investment as well
- Will attract companies to set up offices here and thus bring jobs to the island.
- Expand on the island infrastructure
- Build an airport. The islands have enough space to accommodate runways for planes even up to jumbo jets
- Build more free luxury housing for residents
- Establish schools and universities
- Establish libraries
- Establish Museums
- Establish a healthcare system
- Enjoy the luxury haven of an Island that we have built
Now for the question of how much this island will cost and how we will get the funding
According to my calculations (you can look at them below) it will cost us $2,600,000
- The Island itself
- The Port
- 200,000 to build
- This will benefit us later when we receive forgien investments
- 500,000 for 250 passenger ferry
- We will budget around 100,000 for operating costs
- Initial Buildings
- 1,000,000
- These buildings will be permanently built but occupied until the island is built and then will be sold off to recoup the investment.
- Buildings include
- Civil Services
- Around 50,000 to purchase initial equipment and medical supplies
- Another 100,000 to purchase ATVs
- Another 100,000 to purchase off roading vehicles
- Bitcoin mining operation
- We will get the money for the operation by partnering with a large company
- Water Purification
- Food Supply
- We will purchase MRE’s and other preserved food products for the island
- An exact count of this cannot be made until we move further into the plan
- Further development of the island
- This will be financed by the forgien investments in regards to banking, gambling and tourism along with money raised from property taxes
Now in regards to how we will raise that sum
- We will sell off noble titles (this is why we will set up a constitutional monarchy)
- While no price has been established yet, the titles for sale can include
- Duke, Duchess.
- Marquess, Marchioness.
- Earl, Countess.
- Viscount, Viscountess.
- Baron, Baroness.
- A small percentage of the island (less than 25%) will be earmarked for sale immediately. The part earmarked for sale will be part of the planned downtown district/capital and developers of this land will be allowed to build whatever structures they want and won't have the problem of jumping through hoops like zoning laws.
- On a 60 acre island, 15 acres would be marked for sale
- The acres on this haven of an island will be sold for 250,000 each so the island would raise 4.5 million and the sale of said acres will help kickstart the massive infrastructure of the island and provide the island with adequate funding.
- Once the island is set up, the island will continue to profit from digital activities which will allow it to not have to charge an income tax or corporate tax
- Digital activities include the solar powered bitcoin mining operation
- We will partner with an existing bitcoin company for this
- Solar powered web hosting
- People can become citizens for a fee of $10 which will mainly go to the printing of their ID and filing in the government archives but the island will profit a few dollars off of this
If you have made it this far, please join the
subreddit for this plan
More information to come soon, thank you.
submitted by OGKebabEater to lean [link] [comments]
An Island Nation with Legalized Drugs
Hello all,
I am here with my plan for my
subreddit Reddit Nation
If you are interested in joining a (hopefully) newly formed island nation then this is the place to be.
I have prepared a plan that explains how we will go about doing such a task. More detailed elaborations for each component of the plan will be given at request.
Obviously the first question is where we would have our island. I have identified places of interest. One place of interest is the Nation of Belize. Belize is a small nation with a low GDP of 2 Billion and they are selling off most of their island. Islands with 50-100 acres can be acquired for around 500,000; give or take 50,000. From the people (Government Officials) I have contacted, they are perfectly okay with this plan.
Now here is a 5 step proposal of how this will come to fruition (I will expand on how we will finance this)
- Acquire the island
- Set up the initial infrastructure
- Form of Government that I propose is a constitutional monarchy
- Country will be run as a democracy (two chamber form of parliament)
- Noble titles such as Duke, Earl, Count, Lord, Baron etc will be sold off to help initially finance the island.
- Establishment of the Government Building
- For now this is where the government will convene until more infrastructure is added and the island is improved.
- People will be made citizens at this location
- Establishment of Civil Services
- Waste collection, Police, Social Services
- Establishment of a Port
- This will allow supplies to enter the island.
- This will allow for the island to participate with the rest of the world economically(I will expand on this later).
- The port will function as the entrance point and exit until the runway can be constructed.
- Establishment of Resident Housing
- This temporary housing will be until the island can be developed and more permanent buildings can be put up.
- Resident Housing and the Government building will be set up near the port until island development is completed
- Set up a massive solar powered crypto mining operation to help finance further development of the island
- A partnership with big mining companies can be brokered to have this set up
- Make the Island a desirable location
- Set up the island as a luxury city
- Free housing for citizens
- Free healthcare for citizens
- Free schooling and university for citizens
- Build resorts and legalize gambling on the island
- The revenue generated from such activities will help finance further development of the island
- With the revenue generated from this, the island will be able to provide for the residents a luxury city
- The gambling industry investments will help to finance the island as well
- Make the island a banking haven
- Set up a bank on the island
- No KYC laws will be enforced on the island
- This will attract forgien investment into the island
- Allow cryptocurrency companies to conduct business without oversight and for miners to set up large scale operations using solar powered energy
- No income tax,sales tax, capital gains tax or corporate on the island
- Commercial businesses such as casinos, resorts, and banks will just pay slightly inflated property taxes
- This will help attract a lot more forgien investment as well
- Will attract companies to set up offices here and thus bring jobs to the island.
- Expand on the island infrastructure
- Build an airport. The islands have enough space to accommodate runways for planes even up to jumbo jets
- Build more free luxury housing for residents
- Establish schools and universities
- Establish libraries
- Establish Museums
- Establish a healthcare system
- Enjoy the luxury haven of an Island that we have built
Now for the question of how much this island will cost and how we will get the funding
According to my calculations (you can look at them below) it will cost us $2,600,000
- The Island itself
- The Port
- 200,000 to build
- This will benefit us later when we receive forgien investments
- 500,000 for 250 passenger ferry
- We will budget around 100,000 for operating costs
- Initial Buildings
- 1,000,000
- These buildings will be permanently built but occupied until the island is built and then will be sold off to recoup the investment.
- Buildings include
- Civil Services
- Around 50,000 to purchase initial equipment and medical supplies
- Another 100,000 to purchase ATVs
- Another 100,000 to purchase off roading vehicles
- Bitcoin mining operation
- We will get the money for the operation by partnering with a large company
- Water Purification
- Food Supply
- We will purchase MRE’s and other preserved food products for the island
- An exact count of this cannot be made until we move further into the plan
- Further development of the island
- This will be financed by the forgien investments in regards to banking, gambling and tourism along with money raised from property taxes
Now in regards to how we will raise that sum
- We will sell off noble titles (this is why we will set up a constitutional monarchy)
- While no price has been established yet, the titles for sale can include
- Duke, Duchess.
- Marquess, Marchioness.
- Earl, Countess.
- Viscount, Viscountess.
- Baron, Baroness.
- A small percentage of the island (less than 25%) will be earmarked for sale immediately. The part earmarked for sale will be part of the planned downtown district/capital and developers of this land will be allowed to build whatever structures they want and won't have the problem of jumping through hoops like zoning laws.
- On a 60 acre island, 15 acres would be marked for sale
- The acres on this haven of an island will be sold for 250,000 each so the island would raise 4.5 million and the sale of said acres will help kickstart the massive infrastructure of the island and provide the island with adequate funding.
- Once the island is set up, the island will continue to profit from digital activities which will allow it to not have to charge an income tax or corporate tax
- Digital activities include the solar powered bitcoin mining operation
- We will partner with an existing bitcoin company for this
- Solar powered web hosting
- People can become citizens for a fee of $10 which will mainly go to the printing of their ID and filing in the government archives but the island will profit a few dollars off of this
If you have made it this far, please join the
subreddit for this plan
More information to come soon, thank you.
submitted by OGKebabEater to 5MeODMT [link] [comments]
Is it legal to own an unlicensed betting/gambling company if the bets are not in USD?
In the US where I am, gambling businesses are illegal unless you get licensed by the government and these licenses are very expensive, I think I read it is $10,000 just to submit an application.
Here it says a PA (I live in Pennsylvania) sportsbook license is $10 million... and if your company offers other forms of betting -- namely slots, poker, table games -- there is an additional $10 million license. I have also read, though, that it is legal to have an unlicensed betting company
if (and only if) the bets are placed in Bitcoin or some other virtual currency.
So, my question is: is it legal to start an unlicensed gambling operation if the bets, right before they are placed, are converted into Bitcoin or the customers' virtual currency of choice (... or gold, silver, diamonds, stocks, bonds, Euros, or any other non-USD storage of value for that matter, maybe even poker chips that can be redeemed for USD)? So, say a customer wants to bet $10 on the Eagles game;
(1) he will choose to place this bet,
(2) the computer (and/or an in-person employee) will quickly convert the $10 to $10 worth of Bitcoin (or gold, etc.),
(3) and the $10 worth of Bitcoin will be submitted as a bet on the Eagles game.
(4) Payouts will be paid in Bitcoin (and the company can convert Bitcoin into cash then if the customers choose). Is this legal to do?
Thanks in advance for any help!
submitted by treboy123 to legaladvice [link] [comments]
An Island Nation of Redditors
Hello all,
I am here with my plan for my
subreddit Reddit Nation
If you are interested in joining a (hopefully) newly formed island nation then this is the place to be.
I have prepared a plan that explains how we will go about doing such a task. More detailed elaborations for each component of the plan will be given at request.
Obviously the first question is where we would have our island. I have identified places of interest. One place of interest is the Nation of Belize. Belize is a small nation with a low GDP of 2 Billion and they are selling off most of their island. Islands with 50-100 acres can be acquired for around 500,000; give or take 50,000. From the people (Government Officials) I have contacted, they are perfectly okay with this plan.
Now here is a 5 step proposal of how this will come to fruition (I will expand on how we will finance this)
- Acquire the island
- Set up the initial infrastructure
- Form of Government that I propose is a constitutional monarchy
- Country will be run as a democracy (two chamber form of parliament)
- Noble titles such as Duke, Earl, Count, Lord, Baron etc will be sold off to help initially finance the island.
- Establishment of the Government Building
- For now this is where the government will convene until more infrastructure is added and the island is improved.
- People will be made citizens at this location
- Establishment of Civil Services
- Waste collection, Police, Social Services
- Establishment of a Port
- This will allow supplies to enter the island.
- This will allow for the island to participate with the rest of the world economically(I will expand on this later).
- The port will function as the entrance point and exit until the runway can be constructed.
- Establishment of Resident Housing
- This temporary housing will be until the island can be developed and more permanent buildings can be put up.
- Resident Housing and the Government building will be set up near the port until island development is completed
- Set up a massive solar powered crypto mining operation to help finance further development of the island
- A partnership with big mining companies can be brokered to have this set up
- Make the Island a desirable location
- Set up the island as a luxury city
- Free housing for citizens
- Free healthcare for citizens
- Free schooling and university for citizens
- Build resorts and legalize gambling on the island
- The revenue generated from such activities will help finance further development of the island
- With the revenue generated from this, the island will be able to provide for the residents a luxury city
- The gambling industry investments will help to finance the island as well
- Make the island a banking haven
- Set up a bank on the island
- No KYC laws will be enforced on the island
- This will attract forgien investment into the island
- Allow cryptocurrency companies to conduct business without oversight and for miners to set up large scale operations using solar powered energy
- No income tax,sales tax, capital gains tax or corporate on the island
- Commercial businesses such as casinos, resorts, and banks will just pay slightly inflated property taxes
- This will help attract a lot more forgien investment as well
- Will attract companies to set up offices here and thus bring jobs to the island.
- Expand on the island infrastructure
- Build an airport. The islands have enough space to accommodate runways for planes even up to jumbo jets
- Build more free luxury housing for residents
- Establish schools and universities
- Establish libraries
- Establish Museums
- Establish a healthcare system
- Enjoy the luxury haven of an Island that we have built
Now for the question of how much this island will cost and how we will get the funding
According to my calculations (you can look at them below) it will cost us $2,600,000
- The Island itself
- The Port
- 200,000 to build
- This will benefit us later when we receive forgien investments
- 500,000 for 250 passenger ferry
- We will budget around 100,000 for operating costs
- Initial Buildings
- 1,000,000
- These buildings will be permanently built but occupied until the island is built and then will be sold off to recoup the investment.
- Buildings include
- Civil Services
- Around 50,000 to purchase initial equipment and medical supplies
- Another 100,000 to purchase ATVs
- Another 100,000 to purchase off roading vehicles
- Bitcoin mining operation
- We will get the money for the operation by partnering with a large company
- Water Purification
- Food Supply
- We will purchase MRE’s and other preserved food products for the island
- An exact count of this cannot be made until we move further into the plan
- Further development of the island
- This will be financed by the forgien investments in regards to banking, gambling and tourism along with money raised from property taxes
Now in regards to how we will raise that sum
- We will sell off noble titles (this is why we will set up a constitutional monarchy)
- While no price has been established yet, the titles for sale can include
- Duke, Duchess.
- Marquess, Marchioness.
- Earl, Countess.
- Viscount, Viscountess.
- Baron, Baroness.
- A small percentage of the island (less than 25%) will be earmarked for sale immediately. The part earmarked for sale will be part of the planned downtown district/capital and developers of this land will be allowed to build whatever structures they want and won't have the problem of jumping through hoops like zoning laws.
- On a 60 acre island, 15 acres would be marked for sale
- The acres on this haven of an island will be sold for 250,000 each so the island would raise 4.5 million and the sale of said acres will help kickstart the massive infrastructure of the island and provide the island with adequate funding.
- Once the island is set up, the island will continue to profit from digital activities which will allow it to not have to charge an income tax or corporate tax
- Digital activities include the solar powered bitcoin mining operation
- We will partner with an existing bitcoin company for this
- Solar powered web hosting
- People can become citizens for a fee of $10 which will mainly go to the printing of their ID and filing in the government archives but the island will profit a few dollars off of this
If you have made it this far, please join the
subreddit for this plan
More information to come soon, thank you.
submitted by OGKebabEater to teenagers [link] [comments]
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Overview Andros Casino project
The project called Andros Casino, according to the legend that is presented on the pages of its website, is a legal company registered in the UK that invests in the gaming industry. More specifically, they attract funds from private investors in the development of casinos and gambling halls, and in return pay part of the profits received from this direction.
Andros Casino website is made in the best colors of the HYIP industry. Bright colorful design combined with convenient functionality immediately makes you pay attention to the site and get acquainted with the project in more detail. It should be added that the Andros Casino portal runs on a licensed script and is equipped with an SSL data encryption certificate from Sectigo.
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2.3% of daily charges within 25 days are available for deposits from 501 USD;
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You can create a deposit or order a payout from Andros Casino through
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Full review is here: https://fairmonitor.com/news/id/2887/ submitted by FairMonitorCom to u/FairMonitorCom [link] [comments]
Who can legally use Atari Token?
So the blockchain thing keeps coming up, but all the explanations are super vague and hand-wavey.
I looked-over those PDFs PowerDubs
posted the other day. I still cannot figure out how this is even hypothetically supposed to work.
One proposed use is for a future online casino. Crypto casinos already exist, and they are shady.
The largest bitcoin casino's CEO goes by the pseudonym "wetsuit". I assume he doesn't use his real name because of, you know, all the crime involved.
So what's Atari's plan? If Atari is selling a tool for transmitting money for gambling, this is a wire-fraud risk. If Americans try and use this token, Atari will have to function as a financial institute in compliance with US law. The obscure bank Atari has partnered with
may or may not exist, but it won't hold up to scrutiny either way. Maybe some other countries are more lax about this, but a lot are even more strict. So who, exactly, will legally be allowed to use this token?
The other major purpose is for in-app purchases. If Atari lets users cash-out in-app currencies, this basically turns EVERY GAME into a gambling game. Game companies don't want to be fined for running money laundering operations, so they don't usually make it easy to cash-out in-app currency. "Blockchain" doesn't change this. If reputable companies don't want this, why would they work with Atari? Why would Atari even offer this?
There are other proposed uses as well. None of these ambitious plans amount to anything unless the token has some value in "fiat". Game industry workers still need to pay rent and buy groceries, wherever they live. Workers don't want to be payed in coupons they can only spend on overpriced app stores like RobotCache.
The whitepaper even says something about Atari Token helping people without internet access. Sure Jan. If Facebook couldn't figure this out with Libra, what hope does Atari have?
Again, who will legally be allowed to use this token for its proposed purpose? How does being on the blockchain actually benefit anyone?
submitted by ComradeSnuggles to AtariVCS [link] [comments]
An Island Nation of Redditors with Legalized Drufs
Hello all,
I am here with my plan for my
subreddit Reddit Nation
If you are interested in joining a (hopefully) newly formed island nation then this is the place to be.
I have prepared a plan that explains how we will go about doing such a task. More detailed elaborations for each component of the plan will be given at request.
Obviously the first question is where we would have our island. I have identified places of interest. One place of interest is the Nation of Belize. Belize is a small nation with a low GDP of 2 Billion and they are selling off most of their island. Islands with 50-100 acres can be acquired for around 500,000; give or take 50,000. From the people (Government Officials) I have contacted, they are perfectly okay with this plan.
Now here is a 5 step proposal of how this will come to fruition (I will expand on how we will finance this)
- Acquire the island
- Set up the initial infrastructure
- Form of Government that I propose is a constitutional monarchy
- Country will be run as a democracy (two chamber form of parliament)
- Noble titles such as Duke, Earl, Count, Lord, Baron etc will be sold off to help initially finance the island.
- Establishment of the Government Building
- For now this is where the government will convene until more infrastructure is added and the island is improved.
- People will be made citizens at this location
- Establishment of Civil Services
- Waste collection, Police, Social Services
- Establishment of a Port
- This will allow supplies to enter the island.
- This will allow for the island to participate with the rest of the world economically(I will expand on this later).
- The port will function as the entrance point and exit until the runway can be constructed.
- Establishment of Resident Housing
- This temporary housing will be until the island can be developed and more permanent buildings can be put up.
- Resident Housing and the Government building will be set up near the port until island development is completed
- Set up a massive solar powered crypto mining operation to help finance further development of the island
- A partnership with big mining companies can be brokered to have this set up
- Make the Island a desirable location
- Set up the island as a luxury city
- Free housing for citizens
- Free healthcare for citizens
- Free schooling and university for citizens
- Build resorts and legalize gambling on the island
- The revenue generated from such activities will help finance further development of the island
- With the revenue generated from this, the island will be able to provide for the residents a luxury city
- The gambling industry investments will help to finance the island as well
- Make the island a banking haven
- Set up a bank on the island
- No KYC laws will be enforced on the island
- This will attract forgien investment into the island
- Allow cryptocurrency companies to conduct business without oversight and for miners to set up large scale operations using solar powered energy
- No income tax,sales tax, capital gains tax or corporate on the island
- Commercial businesses such as casinos, resorts, and banks will just pay slightly inflated property taxes
- This will help attract a lot more forgien investment as well
- Will attract companies to set up offices here and thus bring jobs to the island.
- Expand on the island infrastructure
- Build an airport. The islands have enough space to accommodate runways for planes even up to jumbo jets
- Build more free luxury housing for residents
- Establish schools and universities
- Establish libraries
- Establish Museums
- Establish a healthcare system
- Enjoy the luxury haven of an Island that we have built
Now for the question of how much this island will cost and how we will get the funding
According to my calculations (you can look at them below) it will cost us $2,600,000
- The Island itself
- The Port
- 200,000 to build
- This will benefit us later when we receive forgien investments
- 500,000 for 250 passenger ferry
- We will budget around 100,000 for operating costs
- Initial Buildings
- 1,000,000
- These buildings will be permanently built but occupied until the island is built and then will be sold off to recoup the investment.
- Buildings include
- Civil Services
- Around 50,000 to purchase initial equipment and medical supplies
- Another 100,000 to purchase ATVs
- Another 100,000 to purchase off roading vehicles
- Bitcoin mining operation
- We will get the money for the operation by partnering with a large company
- Water Purification
- Food Supply
- We will purchase MRE’s and other preserved food products for the island
- An exact count of this cannot be made until we move further into the plan
- Further development of the island
- This will be financed by the forgien investments in regards to banking, gambling and tourism along with money raised from property taxes
Now in regards to how we will raise that sum
- We will sell off noble titles (this is why we will set up a constitutional monarchy)
- While no price has been established yet, the titles for sale can include
- Duke, Duchess.
- Marquess, Marchioness.
- Earl, Countess.
- Viscount, Viscountess.
- Baron, Baroness.
- A small percentage of the island (less than 25%) will be earmarked for sale immediately. The part earmarked for sale will be part of the planned downtown district/capital and developers of this land will be allowed to build whatever structures they want and won't have the problem of jumping through hoops like zoning laws.
- On a 60 acre island, 15 acres would be marked for sale
- The acres on this haven of an island will be sold for 250,000 each so the island would raise 4.5 million and the sale of said acres will help kickstart the massive infrastructure of the island and provide the island with adequate funding.
- Once the island is set up, the island will continue to profit from digital activities which will allow it to not have to charge an income tax or corporate tax
- Digital activities include the solar powered bitcoin mining operation
- We will partner with an existing bitcoin company for this
- Solar powered web hosting
- People can become citizens for a fee of $10 which will mainly go to the printing of their ID and filing in the government archives but the island will profit a few dollars off of this
If you have made it this far, please join the
subreddit for this plan
More information to come soon, thank you.
submitted by OGKebabEater to rap [link] [comments]
Grande Vegas Casino - free spins, no deposit bonus, promo codes
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is bitcoin gambling legal in the us video
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is bitcoin gambling legal in the us top
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is bitcoin gambling legal in the us
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