Gambling is so effective to extend of one living the lifestyle I remember as a young child I started Gambling at early 13th where I could do anything to keep meeting my desires for Gambling, my parents do all them can to stop me from going to play game of money but they couldn't stop me because i was addicted to it already and is so weird this days seeing little children engaging in Gambling like sporting belt, WHOT, dice and lotto. Our teenager's today can not exercise patience to schooled through quality education process and becoming a better citizens rather they engage in Gambling and live a lifestyle of fraud and gaming.
How Gambling affects teenager's
1. It can leads to drug addiction
2. It cause reckless spending lifestyle
3. Lost of focus
4. Unstable and less relevance to family
5. Mental imbalance and lots more
We should guide our teenager's against bad society vices and evil companies of folks
It is actually very surprising that even a 13-year-old child dreams about gambling. I don't know what inspires them to do this, but I think that it is mainly because of the modern devices of the modern era that they are not properly supervised after being given to them. Yes, if someone gambles under the age of maturity, then of course there is a high possibility of bad effects, especially later on, he will suffer from financial crisis and due to addiction, he will fall into depression and then the next step will be to drink drugs to relieve his depression. And when a young person becomes addicted to such addictions, he will not have time to progress anywhere else in his life, will always spend his time idle, and will not see success in life.
I mostly blame the system as well as the environment we grow up. A 13th year old teenager should not getting access to a gambling site in the first place! But because it's so easy to access these sites and as the regulatory failed to impose stricter rules, so more and more teenagers are becoming addict at the very early ages! This is really concerning and immediate action should be taken. Where I'm from, these days you'll see at least one youngster with gambling apps installed in their mobile, it has become a common sight here!
In my first instance of opening a bitcoin account, a 12 word seed phrase was given me but then I lost it. Later on , I re-opened another account but this time, a 24 word seed phrase was given me. Does a 24 word seed phrase add more security to your asset than a 12 word seed phrase?
Obiously, 12 word phrase have
128bits of entropy on the others hand 24 words phrase have
256bit of entropy,,, so that will be definitely take more time to brute-force than 12words.
For example if 12words phrase takes 1trillion years to brute-force then 24words will may be take some zillions? There is some euqaution for that you can get it from the google.
Further more here is a article for you-
Are 24 word Bitcoin seed phrases better than 12 words for security?Here is another BIP39 standard-
- A 12-word phrase has 2048^12 possible combinations, which is approximately 5.4 x 10^39. That’s a 5 followed by 39 zeroes.
- A 24-word phrase has 2048^24 possible combinations, or roughly 3 x 10^79.
So, for both cases, it could be possible if only Quantum Computers emerge.
Yes it true that the quantum computers if realistic in the long run can hamper the security of our assets but these quantum computer will require a lot of power about thousands of Kilowatt to decipher such large bits of entropy.
In my first instance of opening a bitcoin account, a 12 word seed phrase was given me but then I lost it. Later on , I re-opened another account but this time, a 24 word seed phrase was given me. Does a 24 word seed phrase add more security to your asset than a 12 word seed phrase?
Obiously, 12 word phrase have
128bits of entropy on the others hand 24 words phrase have
256bit of entropy,,, so that will be definitely take more time to brute-force than 12words.
For example if 12words phrase takes 1trillion years to brute-force then 24words will may be take some zillions? There is some euqaution for that you can get it from the google.
Further more here is a article for you-
Are 24 word Bitcoin seed phrases better than 12 words for security?Here is another BIP39 standard-
- A 12-word phrase has 2048^12 possible combinations, which is approximately 5.4 x 10^39. That’s a 5 followed by 39 zeroes.
- A 24-word phrase has 2048^24 possible combinations, or roughly 3 x 10^79.
So, for both cases, it could be possible if only Quantum Computers emerge.
The 12 word seed phrase takes a mathematical evaluation of (2^128) bits
The 24 word seed phrase takes ( 2^128(2) )= 2^256 bits
This implies that the 24 word seed phrase is generated with more hash rate than the 12 word seed phrase. It is seemingly impossible to manipulate it because of the hashing power.
But nevertheless, whether 12 or 24 seed phrase, security still depends on the kind of wallet app. Some wallet apps are not non- custodial and so they can have access to your asset through your lost seed phrase.
Also, some people will still prefer the 12 word seed phrase to the 24 word seed phrase because it's easier to remember . A 24 word seed phrase will be more complex
I think that a person who gamble rarely, or only during sports of life events, is a low risk gambler. A person who earns good and gamble for fun is a low risk gambler. All people who dont see gambling as an opportunity to change their finances in positive way is a low risk gambler. Low risk not only losing and winning; people risk with their current mood and addiction development. Imo you can risk with various things in gambling, not only with money.
I would like to make a small correction here and that is that those persons who rarely gamble cannot be called low risk gamblers, because there are many gamblers who gamble for certain seasons but they stake amounts beyond their ability to lose and even if they lose, in that case we can never call them low risk gamblers or responsible gamblers.
Low risk gamblers are basically those who bet very small amounts within their ability to lose, we also call them responsible gamblers. And in this case, even if they have been gambling responsibly for a full year on a regular basis, we would still consider them to be low risk gamblers.
Then we need to define what is the risk for low risk gambler. Is it a risk of losing money? Or a risk of getting addicted to gambling? Or a risk of failing to earn with gambling? There are +3 different goals that a gambler try to follow.
A guy who bets small amount I would not be 100% sure that this guy is a low risk gambler. It could be his tactics to bet small. Or that person is limited with finances. Or the purpose of small bets is to kill as much as possible time in gambling.
I’m starting to feel like we’re slipping into a bear market again (hope not happening)..., and it just made me wonder… how do online casinos perform during these times? Do they actually struggle when the market is down, or is it just business as usual since gamblers will gamble no matter what season it is?
I’m curious which market cycle is more profitable for them. In a bull run, people have extra money and more confidence, so maybe players bet bigger and take more risks. But during a bear market, some people still end up playing because they want an escape, or they’re stressed, or they’re trying to recover losses somewhere else.
For those who’ve been around for a while, what’s your observation on which season they earn more, bull market or bear market.... nothing serious, just something that crossed my mind.
To be honest, I have never verified this, but the revenue of each casino varies from time to time and it mainly depends on their marketing strategy and performance. When their marketing strategy is successful, that casino generates more revenue in the market and it is actually difficult to say when a casino loses and when it generates more or less revenue.
But if we consider it from a general point of view, maybe some people consider it that when there is a bear season, people are in losses and that is the time when people try to recover their losses quickly and in this case many people go to gamble and for this the revenue of gambling sites increases. But I don't know how true this is.
Market condition does not suffice in determining the casino revenue with operators having various approaches and strengths in luring users. Occasionally, activity moves up when the people are seeking new opportunities but they do not always pick up consistently over time. The forces in the market do not mean that the behaviour of the players cannot be affected, but it is decision making on how to gamble. In this respect we can observe that there are not always some general assumptions which represent the reality.