Russian Roulette: A Dangerous Financial Game – gambling education

♠♣♥♦Feeling Lucky?

If I had a dollar for every time my grandmother told me to accomplish abiding you are on the business, accomplish abiding your name is on the house, I would be sitting on a accumulation of cash. I’d acquaint her, of course, my name is on the business, we filed the paperwork 25 years ago. Afterall we started the business calm with a accommodation from her. I was an buyer of the business years ago, but he reincorporated. Although I alive new paperwork that was not the paperwork that was submitted. Despite a agitated marriage, I never checked. Instead, I blindly believed in my accomplice or rather I alive my arch in the sand. We did not accept those discussions, they led to loud arguments and fights and who wants to allure that.

Financial Responsibility is Your Responsibility

When you commence on your conjugal journey, accomplish abiding you accept all of the harder discussions no amount how afflictive they may be. Discussing finances, ensuring your name is on a home you acquirement together, a business you alpha together, cyberbanking accounts, etc… is a assurance of assurance rather than distrust. If you can accept difficult conversations after responses like “don’t you assurance me?”, or “I’m bigger with money, just assurance me”, than your adventitious of a acknowledged alliance is increased. One accomplice authoritative the purse strings is generally a assurance of banking abuse.

Your Accountant should be on Speed Dial

Sometimes those little hairs on the aback of my close would creep and I would assert on accompanying my apron to our accountants. The chat would be directed by my ex and our accountant. My fears would stop agreeable “something’s not right” and just silently nag. I’d ask about getting listed on the business as an buyer and would be assured yes and don’t anguish this is a 50/50 state. Let me assure you that even admitting the law may accompaniment that, the one with the money has the power. Your accountant works for you – ballad yourself with what questions to ask, get a additional opinion, accept your finances. Do not play Russian Roulette with your life. Blame and benightedness do not pay the bills and debt collectors do not care.

Your advancing business is now abreast bankruptcy

Our baby business of 25 years had provided us with a admirable lifestyle. We had a nice little backup egg, the adeptness to pay for our children’s academy education, bindle of a baby banking allowance to them aloft graduation. We accomplished the American Dream and again the daydream began. Suddenly, annulment was approaching and our advancing business was on the border of bankruptcy. Everything we had formed so harder for was gone or so it seemed. If you doubtable banking hanky-panky, appoint a banking adviser who specializes in argumentative accounting appropriate away. Once the money is gone, affairs are it is not advancing aback but you charge to bottle what remains. If I had just had the harder talks about money, taken a added accomplished and alive role if it came to our affairs I wouldn’t accept played Russian Roulette. Academy charge would accept been paid, and we both would accept breach the backup egg, 50/50.

What is Banking Abuse?

Last Thoughts

  1. Before you marry, accomplish abiding you accept the difficult altercation with your partner. If you abhorrence yourself afraid abroad from a affair to abstain an altercation or fight, accede it a admonishing sign.
  2. Check things out for yourself. You are acute and just as capable. It’s simple to let anyone abroad do it but this is your life. Fiduciary assurance does not beggarly you play Russian Roulette and action your money and activity away.
  3. Be alive if it comes to your finances. If your tax acknowledgment is complicated, again apprentice how to accept it. Yield it to your own trusted advisor.
  4. A solid affiliation is congenital on trust, not dark trust, but assurance that you can accept accessible honest discussions. All capacity should be accessible for discussions.
  5. Ignorance is not an alibi and does not pay your bills.
  6. Take ascendancy of your affairs or your affairs will yield ascendancy of you.


Fear Not, China Is Not Banning Cryptocurrency

In 2008 afterward the banking crisis, a cardboard blue-blooded “Bitcoin: A Peer-to-Peer Electronic Cash System” was published, account the concepts of a transaction system. Bitcoin was born. Bitcoin acquired the absorption of the apple for its use of blockchain technology and as an another to authorization currencies and commodities. Dubbed the next best technology afterwards the internet, blockchain offered solutions to issues we accept bootless to address, or abandoned over the accomplished few decades. I will not burrow into the abstruse aspect of it but actuality are some online writing and videos that I recommend:

How Bitcoin Works Under the Hood

A affable addition to blockchain technology

Ever admiration how Bitcoin (and added cryptocurrencies) in fact work?

Fast advanced to today, 5th February to be exact, authorities in China accept just apparent a new set of regulations to ban cryptocurrency. The Chinese government accept already done so endure year, but abounding accept baffled through adopted exchanges. It has now enlisted the absolute ‘Great Firewall of China’ to block admission to adopted exchanges in a bid to stop its citizens from accustomed out any cryptocurrency transactions.

To apperceive added about the Chinese government stance, let’s backtrack a brace years aback to 2013 if Bitcoin was accepting acceptance a part of the Chinese citizens and prices were soaring. Concerned with the bulk animation and speculations, the People’s Bank of China and 5 added government ministries appear an official apprehension on December 2013 blue-blooded “Notice on Preventing Banking Accident of Bitcoin” (Link is in Mandarin). Several credibility were highlighted:

1. Due to assorted factors such as bound supply, anonymity and abridgement of a centralized issuer, Bitcoin is not a official bill but a basic article that cannot be acclimated in the accessible market.

2. All banks and banking organizations are not accustomed to action Bitcoin-related banking casework or appoint in trading action accompanying to Bitcoin.

3. All companies and websites that action Bitcoin-related casework are to annals with the all-important government ministries.

4. Due to the anonymity and cross-border appearance of Bitcoin, organizations accouterment Bitcoin-related casework care to apparatus antitoxin measures such as KYC to anticipate money laundering. Any apprehensive action including fraud, bank and money bed-making should to be appear to the authorities.

5. Organizations accouterment Bitcoin-related casework care to brainwash the accessible about Bitcoin and the technology abaft it and not mislead the accessible with misinformation.

In layman’s term, Bitcoin is categorized as a basic article (e.g in-game credits,) that can be bought or awash in its aboriginal anatomy and not to be exchanged with authorization currency. It cannot be authentic as money- something that serves as a average of exchange, a assemblage of accounting, and a abundance of value.

Despite the apprehension accepting anachronous in 2013, it is still accordant with commendations to the Chinese government attitude on Bitcoin and as mentioned, there is no adumbration of the banning Bitcoin and cryptocurrency. Rather, adjustment and apprenticeship about Bitcoin and blockchain will play a role in the Chinese crypto-market.

A agnate apprehension was issued on Jan 2017, afresh emphasizing that Bitcoin is a basic article and not a currency. In September 2017, the bang of antecedent bread offerings (ICOs) led to the publishing of a abstracted apprehension blue-blooded “Notice on Preventing Banking Accident of Issued Tokens”. Soon after, ICOs were banned and Chinese exchanges were advised and eventually closed. (Hindsight is 20/20, they accept fabricated the appropriate accommodation to ban ICOs and stop absurd gambling). Another draft was dealt to China’s cryptocurrency association in January 2018 if mining operations faced austere crackdowns, citation boundless electricity consumption.

While there is no official account on the crackdown of cryptocurrencies, basic controls, actionable activities and aegis of its citizens from banking accident are some of the basic affidavit cited by experts. Indeed, Chinese regulators accept implemented stricter controls such as across abandonment cap and acclimation adopted absolute investment to absolute basic address and ensure calm investments. The anonymity and affluence of cross-border affairs accept aswell fabricated cryptocurrency a admired agency for money bed-making and counterfeit activities.

Since 2011, China has played a acute role in the brief acceleration and abatement of Bitcoin. At its peak, China accounted for over 95% of the all-around Bitcoin trading aggregate and three abode of the mining operations. With regulators dispatch in to ascendancy trading and mining operations, China’s ascendancy has diminished decidedly in barter for stability.

With countries like Korea and India afterward clothing in the crackdown, a adumbration is now casted over the approaching of cryptocurrency. (I shall reiterate my point here: countries are acclimation cryptocurrency, not banning it). After a doubt, we will see added nations accompany in in the advancing months to rein in the agitated crypto-market. Indeed, some affectionate of adjustment was continued overdue. Over the accomplished year, cryptocurrencies are experiencing bulk animation exceptional of and ICOs are accident actually every added day. In 2017, the absolute bazaar assets rose from 18 billion USD in January to an best top of 828 billion USD.

Nonetheless, the Chinese association are in decidedly acceptable alcohol admitting crackdowns. Online and offline communities are blooming (I alone accept abounding absolutely a few contest and visited some of the firms) and blockchain startups are beginning all over China.

Major blockchain firms such as NEO, QTUM and VeChain are accepting huge absorption in the country. Startups like Nebulas, Top Performance Blockchain (HPB) and Bibox are aswell accepting a fair bulk of traction. Even giants such as Alibaba and Tencent are aswell exploring the capabilities of blockchain to enhance their platform. The account goes on and on but you get me; it’s traveling to be HUGGEE!

The Chinese government accept aswell been all-embracing blockchain technology and accept stepped up efforts in contempo years to abutment the conception of a blockchain ecosystem.

In China’s 13th Five-Year Plan (2016-2020), it alleged for the development of able technologies including blockchain and bogus intelligence. It aswell affairs to strengthen analysis on the appliance of fintech in regulation, billow accretion and big data. Even the People’s Bank of China is aswell testing a ancestor blockchain-based agenda currency; however, with it acceptable to be a centralized agenda bill slapped with some encryption technology, its acceptance by the Chinese citizens charcoal to be seen.

The barrage of the Trusted Blockchain Accessible Lab as able-bodied as the China Blockchain Technology and Industry Development Forum by the Ministry of Industry and Information Technology are some of the added initiatives by the Chinese government to abutment the development of blockchain in China.

A contempo address blue-blooded ” China Blockchain Development Address 2018″ (English adaptation in the link) by China Blockchain Analysis Center abundant the development of the blockchain industry in China in 2017 including the assorted measures taken to adapt cryptocurrency in the mainland. In a abstracted section, the address accent the optimistic angle of the blockchain industry and the massive absorption it has accustomed from VCs and the Chinese government in 2017.

In summary, the Chinese government accept apparent a absolute attitude appear blockchain technology admitting its administration on cryptocurrency and mining operations. China wants to ascendancy cryptocurrency, and China will get control. The again enforcements by the regulators were meant to assure its citizens from the banking accident of cryptocurrencies and absolute basic outflow. As of now, it is acknowledged for Chinese citizens to authority cryptocurrencies but they are not accustomed to backpack out any anatomy of transaction; appropriately the ban of exchanges. As the bazaar stabilizes in the advancing months (or years), we will see assuredly see a awakening of the Chinese crypto-market. Blockchain and cryptocurrency appear hand-in-hand (with the barring of clandestine alternation area a badge is unnecessary). Countries appropriately cannot ban cryptocurrency after banning blockchain the alarming technology!

One affair we can all accede on is that blockchain is still at its infancy. Abounding agitative developments awaits us and appropriate now is absolutely the best time to lay the foundation for a blockchain-enabled world.

Last but not least, HODL!

– gambling education