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https://preview.redd.it/mulo9725zvg41.jpg?width=1000&format=pjpg&auto=webp&s=fe1bba784d21af2a04c1f643546e4ffecffbebb8 Ever since the internet came into being, several games have also been invented. These inventions of new games gave way to a lot of fun. If you are someone who loves playing online games, then you might as well be familiar with the online betting casino.Over the years, the online casino has become extremely popular. Before you proceed forward, you must know how these online casino gamesare. When it comes to gaming casinos online, you should know that there are different variants of it available online, each better than before. Some Facts About Online Casino Games Let's have a clear look at some of the prominent things before you dive into the world ofonline casinos. Pay and Play Casino trends have become extremely popular. Most people are opting for playing the game online by paying a certain amount of money for it. ●Is there any cash deposit limit for the casino games site? While a lot of websites have been offering the option of playing casino for free, not many of us are fond of it. As a result, we prefer opting for the best option that is paying and playing. If you wish to play online betting casino, you need to have a specific deposit limit. These maximum and minimum deposit limits are mentioned in each website. ●Which casino games have the lowest budget? As mentioned, every casino game is different. Therefore, you must familiarise yourself with what game you are going to play. If you are looking for the casino game with the lowest budget, then the best option for you is Single hand Blackjack. At the same time, there are several no-deposit casino game websites too, such as Voodoo Dreams, Video Slots, NY Spins, and so much more. If you feel like you're out of luck, don't worry because we have got you covered. It is always recommended to opt for the free version of the game before paying actual money. The numerousonline betting casino games open an array of opportunities to play and win money. The concept of online casino games is very much similar to that of the real ones. All you need to do is have a proper strategy so that you can excel in the game. Different Online casino Games Some of the prominent types of online casino games you can indulge in including the following. ●Slots Slots have to be one of the most popular types of online betting casino. You may come across a wide range of websites offering you Slots. If you know how to collect bonus points, playing slots is going to be all fun and easy. Experts suggest that you need to be familiar with the game's structure. ●Blackjack Blackjack in online casino games is available in different variants ranging from single hand to multi-hand. If you browse the websites a little more, you will be able to find other popular variants of Blackjack, too, such as the progressive blackjack that will help you get a significant amount. Blackjack has become a significant attraction in the online betting casino. ●Keno Keno is yet another popular casino gaming. If you have no experience with the casino, you can begin with Keno. In Keno, you will need to choose a set of numbers and will need to match the numbers you draw. As the numbers match, you win. ●Roulette If you're playing roulette, know that there are a lot of winning opportunities available. All you need to do is find the perfect timing. The guidelines are available, and you can eventually learn to play with time. Online casino gamesaren't as hard as you consider them to be. If you pay a little attention, you surely will excel in it.
Different types of online casino games Ever since the internet came into being, several games have also been invented. These inventions of new games gave way to a lot of fun. If you are someone who loves playing online games, then you might as well be familiar with the online betting casino.Over the years, the online casino has become extremely popular. Before you proceed forward, you must know how these online casino games are. When it comes to gaming casinos online, you should know that there are different variants of it available online, each better than before. Some Facts About Online Casino Games Let's have a clear look at some of the prominent things before you dive into the world of online casinos. Pay and Play Casino trends have become extremely popular. Most people are opting for playing the game online by paying a certain amount of money for it. ●Is there any cash deposit limit for the casino games site? While a lot of websites have been offering the option of playing casino for free, not many of us are fond of it. As a result, we prefer opting for the best option that is paying and playing. If you wish to play online betting casino, you need to have a specific deposit limit. These maximum and minimum deposit limits are mentioned in each website. ●Which casino games have the lowest budget? As mentioned, every casino game is different. Therefore, you must familiarise yourself with what game you are going to play. If you are looking for the casino game with the lowest budget, then the best option for you is Single hand Blackjack. At the same time, there are several no-deposit casino game websites too, such as Voodoo Dreams, Video Slots, NY Spins, and so much more. If you feel like you're out of luck, don't worry because we have got you covered. It is always recommended to opt for the free version of the game before paying actual money. The numerous online betting casino games open an array of opportunities to play and win money. The concept of online casino games is very much similar to that of the real ones. All you need to do is have a proper strategy so that you can excel in the game. Different Online casino Games Some of the prominent types of online casino games you can indulge in including the following. ● Slots Slots have to be one of the most popular types of online betting casino. You may come across a wide range of websites offering you Slots. If you know how to collect bonus points, playing slots is going to be all fun and easy. Experts suggest that you need to be familiar with the game's structure. ●Blackjack Blackjack in online casino games is available in different variants ranging from single hand to multi-hand. If you browse the websites a little more, you will be able to find other popular variants of Blackjack, too, such as the progressive blackjack that will help you get a significant amount. Blackjack has become a significant attraction in the online betting casino. ●Keno Keno is yet another popular casino gaming. If you have no experience with the casino, you can begin with Keno. In Keno, you will need to choose a set of numbers and will need to match the numbers you draw. As the numbers match, you win. ●Roulette If you're playing roulette, know that there are a lot of winning opportunities available. All you need to do is find the perfect timing. The guidelines are available, and you can eventually learn to play with time. Online casino gamesaren't as hard as you consider them to be. If you pay a little attention, you surely will excel in it.
Host or participate in Heists - Min. Level 1 / to participate; Min. Level 12 / or own a high-end apartment to host
I'm a millionaire already, just give me a grind:
CEO Import/Export Vehicle Work by Psychko - Currently most reliable and profitable money grind with high end only method - Min. Level 1 / if you already own a CEO office / if you do not own a CEO office
Do an I/E sourcing mission, then do VIP work (Headhunter or Sightseer are a breeze with a Buzzard) in the cool down, then do an I/E delivery mission. Rinse and repeat!
Earn 2000-3000RP per source delivery, 5000RP per sale delivery. Buy 1 crate and sell immediately for maximum RP since the same RP is given whether you source/sell 1 crate or multiple.
Earn 200-600RP bonuses when you stay near the CEO/VIP's location
Host or participate in Heists - Min. Level 1 / to participate; Min. Level 12 / or own a high-end apartment to host
I'm a millionaire already, just give me a grind:
CEO Import/Export Vehicle Work by Psychko - Currently most reliable and profitable money grind with high end only method - Min. Level 1 / if you already own a CEO office / if you do not own a CEO office
Do an I/E sourcing mission, then do VIP work (Headhunter or Sightseer are a breeze with a Buzzard) in the cool down, then do an I/E delivery mission. Rinse and repeat!
Earn 2000-3000RP per source delivery, 5000RP per sale delivery. Buy 1 crate and sell immediately for maximum RP since the same RP is given whether you source/sell 1 crate or multiple.
Earn 200-600RP bonuses when you stay near the CEO/VIP's location
Bloomberg Opinion: GameStop Is Rage Against the Financial Machine
I know, everyone is tired of hearing about Gamestop, but this was something I came across that I thought was actually quite well written and pretty spot on with most of the anger driven rhetoric I've seen on Reddit. I've copy/pasted because I know most of y'all don't have Bloomberg subscriptions.
Traders putting on the short squeeze aren’t motivated by greed. They’re engaged in an anger-driven uprising against the establishment. Anger Is an Energy The saga of GameStop Corp. continues. By the end of another frenetic day of trading Tuesday, the stock had just topped its high from Monday. Between those peaks, it staged a fall of more than 50% on Monday afternoon. Colleagues have followed these extraordinary developments as they happened. I will try for now simply to process the single most important question: Is this just a weird technical situation, of the kind that comes along every few years, that can otherwise be safely ignored? Or does it tell us something important about market conditions as a whole? GameStop's share price surged back to set a new high Purely qualitatively, based on what I have witnessed, I think it does matter. The signal it sends is disquieting, if not surprising. It also introduces us to a new variant on an ancient market phenomenon. The cliche is that market capitalism works on the balance between greed and fear. The standard defense is as follows: If the greed to make money by beating the competition is matched by a fear of failure through making too many mistakes or cutting corners, then capitalism works. Nothing else yet discovered gives people such an incentive to work and create growth. Speculative bubbles happen when greed becomes excessive, or when fear diminishes too much. Easy money and easier trading with derivatives oil these emotions and allow them to run riot. The financial crisis of 2008 happened in large part because years of policy had convinced investors that there would be a bailout if they failed; they lost their fear, and greed took over. This feeds into the debate over whether we have a speculative bubble at present. Markets are pervaded by gloom and worry, so there is no lack of fear — even if confidence that interest rates will never rise is growing excessive. Meanwhile, there is little in the way of greed. Cryptocurrency has generated excitement, as has Tesla Inc., but in the main the frenzy over a historic opportunity to get rich, of the kind that was everywhere in 1999, is lacking. This is a different, worried world. The last two decades have stripped it of its positivity. The mood is nothing like the great bubbles of the past. Instead of greed, this latest bout of speculation, and especially the extraordinary excitement at GameStop, has a different emotional driver: anger. The people investing today are driven by righteous anger, about generational injustice, about what they see as the corruption and unfairness of the way banks were bailed out in 2008 without having to pay legal penalties later, and about lacerating poverty and inequality. This makes it unlike any of the speculative rallies and crashes that have preceded it. On Monday, I argued that it was misplaced to take pleasure at the pain for the short-sellers who had attacked GameStop stock, and then been subjected to a “short squeeze” for the ages by traders coordinating on Reddit. I received a bumper crop of feedback. Here are some representative samples (leaving out many with unprintable expletives):
“You kind of miss the point of what is going on with GameStop. How much did Melvin pay you to write this garbage? shill. Literally trying to protect an industry trying to fleece jobs from low income workers. Sleep well chump.” “Watching entitled institutional shorts whine on TV and OP EDs that millennials equipped with margin accounts & zero fees are collaborating on Reddit to target them is my new favorite sport. Looks perfectly healthy from where I'm sitting, which is on bull side :) plus 1 for the little guys.” “Normal isn't putting the retail trader down for being independent while organized hedge funds force you to take their way or suffer in fear. Normal is the American dream and being able to make your own way. This isn't a casino. This is a riot.”
One respondent warned that the people squeezing the shorts aren’t “a herd of impressionable youngsters with Robinhood accounts. No. They are an experienced & ruthless army of insomniacs followed by a silent legion of rapidly learning new traders. This is a new paradigm that won’t go away.” Another told me I was a “dumb boomer” amid a screed of unprintable epithets. (Point of information: I’m just too young to be a boomer. I’m in Generation X, but it’s the intergenerational antagonism that’s noteworthy.) Another said that the short squeeze was just a way for millennials to recoup the money they had been forced to pay to bankers during the TARP rescue 12 years ago, and to put coronavirus relief checks to work:
“In other words, poor people have too much money and are now controlling the narrative. Damn those $1200 stimulus checks and $600 unemployment supplements. Too much liquidity, let's get these folks back to living paycheck to paycheck.” “I know. Democratisation of the market is so damned inconvenient for those of us with money.” “nobody cares about your hedge fund cronies!” “Bloomberg defending the suits. Not surprised. They’re just mad the rubes are in on the joke now. Might this force the Fed’s hand? Too many regular people in on the game.”
This is all fascinating. In the space of 12 years, the role of the short-seller has turned on its head. Back in 2008, it was the shorts who upset the status quo, revealed what was rotten in the state of Wall Street, and brought down the big shots. They were even the heroes of a big movie. It was the Wall Streeters who attacked them. Alienation has deepened since then. Short-selling hedge funds are now seen as part of a corrupt establishment, as is the media. The motives of anyone defending the shorts, or anyone wearing a suit, must be suspect. And there is a deep generational divide; those unable to own their own home and forced to rely on defined contribution pensions have a stunningly unfair deal compared to those a generation older, living in mortgage-free homes with guaranteed pensions. That percolates into anger, and a determination to right the scales by making money at the expense of corrupt short-sellers. We lack precedents for an angry bubble, so predictions are even harder than usual. But there are enough similarities with past incidents to raise serious cause for concern. First, the little guys have had their success so far with the aid of margin accounts, and by using derivatives. We know what happens when these things are used to excess; even the Dutch tulipmania relied on margin debt and derivatives. Little guys (and everyone else) deserve safer tools with which to build wealth. Second, “democratization of finance” isn’t new, and in itself is nothing that anyone can object to. The problem is that investment and financial planning are difficult, and require time. Regulate these things, and you no longer have true democratization. Leave people free to take chances, and you get disasters like the bursting of the dot-com bubble in 2000. That also followed plenty of hype about the success of the “little guy,” and the first great explosion of online discount trading succeeded in sucking an army of new retail investors into the bubble’s final climax. Unregulated “democratization” led to the little guy bearing the brunt of the losses. “Democratizing” finance also leaves newly enfranchised financial citizens prey to spivs and frauds. I started my career covering the disastrous repercussions of one of Margaret Thatcher’s last reforms in the U.K. — giving people the right to leave their defined-benefit pensions, offered by employers, and take on defined-contribution “personal pensions.” Unscrupulous salesmen persuaded miners, firefighters and police officers to abandon copper-bottomed index-linked pensions for plans that came burdened with excessive charges. It was a repellent spectacle, and the bill for compensation was in the billions. These points doubtless make me appear to be a complacent shill for the financial industry, talking down to the rubes. For the record, I’m still angry about the way workers were ripped off in Britain more than three decades ago, and about the way the little guy ended up bearing the brunt for the financial implosions of 2000 and 2008. But it looks horribly to me as though the same thing is going to happen again — and I don’t think the answer to today’s many ills is to empower poor people to bankrupt themselves with margin accounts and derivatives. Anger, even more than greed, has the capacity to make us throw caution to the winds. Many of us have a lot to be angry about. If this carries on, and spreads beyond targets like a video-game retailer, I don’t want to see the consequences when history’s first angry bubble bursts.
Host or participate in Heists - Min. Level 1 / to participate; Min. Level 12 / or own a high-end apartment to host
I'm a millionaire already, just give me a grind:
CEO Import/Export Vehicle Work by Psychko - Currently most reliable and profitable money grind with high end only method - Min. Level 1 / if you already own a CEO office / if you do not own a CEO office
Do an I/E sourcing mission, then do VIP work (Headhunter or Sightseer are a breeze with a Buzzard) in the cool down, then do an I/E delivery mission. Rinse and repeat!
Earn 2000-3000RP per source delivery, 5000RP per sale delivery. Buy 1 crate and sell immediately for maximum RP since the same RP is given whether you source/sell 1 crate or multiple.
Earn 200-600RP bonuses when you stay near the CEO/VIP's location
Host or participate in Heists - Min. Level 1 / to participate; Min. Level 12 / or own a high-end apartment to host
I'm a millionaire already, just give me a grind:
CEO Import/Export Vehicle Work by Psychko - Currently most reliable and profitable money grind with high end only method - Min. Level 1 / if you already own a CEO office / if you do not own a CEO office
Do an I/E sourcing mission, then do VIP work (Headhunter or Sightseer are a breeze with a Buzzard) in the cool down, then do an I/E delivery mission. Rinse and repeat!
Earn 2000-3000RP per source delivery, 5000RP per sale delivery. Buy 1 crate and sell immediately for maximum RP since the same RP is given whether you source/sell 1 crate or multiple.
Earn 200-600RP bonuses when you stay near the CEO/VIP's location
Decided to make another post as the "leaker" allegedly had another AMA on 4chan (taken down again) where he clarified a few things that were misinterpreted and also decided to reveal more things about the game. I decided to clarify a few things about my last post as well as some people seem confused about a few details that I mentioned. Credits to u/Elena_xoxo for bringing the second AMA to light in a post in the GTA6 subreddit and also u/roughpreference991 for the screenshots of the AMA. The archived version of the first AMA can be found here. Again, take it with a huge grain of salt because of it being a 4chan leak and no way to know if both the AMAs are done by the same person. This time around the leaker comes with a bolder claim about the credibility that they have been working at R* since 2004 and is primarily a developer. The leaker claims that they know the staff in every area of the dev team. The leaker mentions multiple times to capture the thread and 99% of it will be confirmed "sooner than you think"(Of course, this does not prove shit but could be interesting in retrospect). Now to jump into the details of the second AMA:
Same engine as RDR2 and GTAV but definitely improved upon. Ray tracing is in use but limited to reflections and shadows. Leaker mentions not to expect ray-traced light until the PC release.
They also mention that what they said about the map size of the game in the previous AMA was misunderstood. What they meant was that the fastest transportation in RDR2 takes roughly 15-20 minutes to travel the longest possible route whereas GTA VI is around 13-15 minutes. They mention that the map is bigger than RDR2's in landmass. (The inconsistency of their details of the map from the previous thread is a big red flag imo)
Complete freedom regarding exploration, you aren't forced to play through the main story and can go exploring anytime you want.
They also mention that one of the confirmed songs is "Always on my Mind" by the Pet Shop Boys. (Mentioned in the previous AMA as well but they mention the song name this time.)
Large number of building enterable and they all have textures unique to them but not every building is enterable as it is just too hard to implement.
Better physics than GTAV as RDR2 was taken as the base for it and then built upon for the modern world. Driving feels less arcadey than GTAV but not as weighted as GTA IV's.
The gap between consoles and PC release estimated to be 12 months by the leaker.
The leaker again refuses to leak the MC's name but does mention that he has a mother and a sister. The MC calls the sister Frankie and also the father is dead. (Maybe you play as the father in the 1970s part of the game as I mentioned in the last post who dies when the MC is a kid and then maybe you play as the MC in the modern-day counterpart).
The game has "deceptive" amount of content already according to the leaker.
There's a famous 80s singer hosting one of the radio stations.
Monetization at the launch of Online will be a lot lighter than GTA Vs due to the company being concerned about bad press.
More hair and facial types that can be mixed and matched and also supposed to be period-specific for the online counterpart. Also, there will be a choice of body type but nothing specific like Fat, average, fit, muscular, etc,
There will be a morality meter for the first time similar but not identical to RDR2's system. This will affect certain missions and outcomes.
2 limited maps within the game. Liberty City (pretty much on rails) and a "Cuban" island.
Supposed to be a satirical representation of America in the 1980s.
There's one side mission that's pretty much just one giant easter egg for the Goonies. It is not given to the player by an NPC but started by finding a map (Like one eyed willies).
There is one interesting detail, the leaker first states that the protagonist is older than Tommy Vercetti but then, later on, admits that he made a mistake and that the protagonist is actually 2 years younger than Tommy. (This is the most interesting detail as it can actually be an honest mistake on their part or it could be a clever and subtle way to fake their credibility by acting as if it was an honest mistake.)
The North Point Mall looks really good now and it's way bigger.
There's a scarface style montage that holds a lot of meme potential. (This was an answer to someone asking the leaker if there are any memeable moments)
Main forms of transport stated to be cars, motorcycles, boats, helicopters, and seabirds.
Controls are just a refined version of what you've seen in previous titles. Gunplay is essentially a modified version of RDR2 mechanics. No parkour-style traversal mechanics in the game.
Full body nudity in strip clubs and even during some cutscenes. Also, if you build up a good enough affinity with certain women, you can "make love".
Fidelity and Performance mode similar to something like Miles Morales.
You can work out but transformation won't be as dramatic as GTA SA. You have to also make sure that you're eating or you won't grow. Some more side activities mentioned by the leaker are gambling, dancing, and roller derby which they also previously mentioned in the last AMA.
NPCs are like RDR2 but in a GTA setting. The police don't just shoot you to death for small crimes anymore. If you get the option to bribe the officers for petty crimes.
Using fists have better development than the previous GTA. You can grab people and punch them in a clinch. There are unique animations for stealthy kills.
One example of better car detailing that the leaker gives is of Ferrari Enzo (not called that) and it looks as if it could be in a GT7.
The leaker states that there are a lot of 80s references in GTA Online recently. Also, the song choice for casino update was 80s related.
When someone asked if there is a protagonist replacement point like in RDR2, the leaker declined to say as it might spoil some of the story. The prologue and 1st chapter are set in the 1970s all the way till 1987.
Again I can't stress enough to take all of this with a huge grain of salt as a lot of details could easily be educated guesses, there is no way to even know if both the AMAs were done by the same person and the credibility itself but had to compile it for my Reddit peeps. I also wanted to clarify a few things from my last post as well:
I did mention that the first 2 chapters are set in the late 1970s, to be more specific the prologue and 1st chapter are set in that time period, and it goes from the late 1970s till 1987.
The Ricardo codename mentioned for the protagonist in the last game was indeed based on the Ricardo Milos meme. (The leaker stated that the protagonist has "sun-kissed" tan so maybe that's why the codename.)
RDR1 is technically being "remastered" as the map was already made in the newer engine so it's not a remake. The leaker also did state in the last AMA that it looks like a next-gen game.
A lot of people mentioned that Ken Rosenberg and Tommy Vercetti cannot exist in the HD universe as R* has stated that the HD universe is different than the previous games. While I don't deny that but at the end of the day, it's R*'s intellectual property so it wouldn't be surprising if they did it. The other possibility could be an alternate version of the same characters that exist in the HD universe.
Host or participate in Heists - Min. Level 1 / to participate; Min. Level 12 / or own a high-end apartment to host
I'm a millionaire already, just give me a grind:
CEO Import/Export Vehicle Work by Psychko - Currently most reliable and profitable money grind with high end only method - Min. Level 1 / if you already own a CEO office / if you do not own a CEO office
Do an I/E sourcing mission, then do VIP work (Headhunter or Sightseer are a breeze with a Buzzard) in the cool down, then do an I/E delivery mission. Rinse and repeat!
Earn 2000-3000RP per source delivery, 5000RP per sale delivery. Buy 1 crate and sell immediately for maximum RP since the same RP is given whether you source/sell 1 crate or multiple.
Earn 200-600RP bonuses when you stay near the CEO/VIP's location
Why you should learn poker and game theory (LONG READ)
Hello everyone! I have only been on Reddit for a few months but I learned so much from it that I figured I should try and give back to the community. English is my second language and this is the first time I ever write a full-length article, I hope you will enjoy reading it and I would be very thankful if you could provide some feedback about my writing, about the topic, or about anything else really… So here goes! Why you should learn poker and game theory: My story is similar to that of many: I learned about the game 10 years ago (during the golden age of online poker) when some friends of mine invited me to play a home game. Although I initially thought of poker as just another game of chance akin to playing slots or roulette in a casino, I quickly came to realize that there is a lot more to it as my more experienced friends would repeatedly get the best of me during these home games, which led me to start watching videos and reading strategy books to improve my skill… Little did I know it’d be the start of a journey that would impact many different aspects of my life way beyond the game itself, as most of the fundamental principles learned through poker can be applied to your decision-making outside of the game, especially when it comes to money management and investing. Now, let’s dive into a few of these principles: - Risk management (i.e. Bankroll management) When learning about how to be successful playing poker, the first big piece of advice most people come across is bankroll management or BRM. To understand BRM, you must first realize that poker has a lot of variance: you might be vastly ahead in a given hand but there is almost always a slim chance that you will lose in the end if one specific card hits. This implies that you will sometimes lose even though you were a 99% favorite, and that you will sometimes get unlucky and lose 2, 5 or maybe even 20 such encounters in a row. THIS is variance. It doesn’t mean that you played bad or that you made bad decisions, but rather that you got unlucky. Over time you will have lucky streaks and unlucky streaks, and these will average out in the long term… It’s just the way the game goes. Now that we understand variance, let’s get back to BRM. What is it exactly? Let’s say you are the best poker player in the world but you only have 1000$ that you can EVER use to play with. Taking your whole 1000$ on one table and multiplying your stack at an exponential rate might seem like a good idea. Surely nothing can go wrong since you’re the best player in the world right? But variance can be a bitch ;) Even if you’re the best you will lose regularly and you will sometimes get unlucky, it’s just part of the game. The correct move here is to apply BRM, which means only using a small % of your available capital for each game you play in order to reduce the risk of going broke. Using only 100$ per game would already be a lot safer, but you still run the risk of going under on a streak of bad luck. If you only allocate 10$ per game you play, then it becomes virtually impossible for you to ever go broke, even on a huge streak of bad luck. Sure it’s not as exciting and you won’t be making money quite as fast as you could, but this is the way to go to make sure you don’t go broke… This approach to risk management translates very well to investing: - Only invest what you can afford to lose. Once the money is on the table it’s as good as gone, which is why you should only use your “spare” cash and never invest with your living expenses or worse, borrow money to invest. - Diversify your investments. There is always a chance, however slim it might be, that you will lose most of your investment. This is why going all-in on a specific investment is generally a bad idea (this applies particularly well in the crypto space). Proper BRM allows you to make sure that you will come out ahead in the long run if you play well, which basically comes down to making more good decisions than bad ones. But that’s assuming you don’t let emotions come in the way of your decision-making, which brings us to our next point… - Emotional management (i.e. Handling tilt/Positive mindset) Nobody likes losing… In the same way we enjoy winning because of the dopamine rush, we feel bad when we lose which is totally natural. Overcoming this and avoiding tilt (irrational decisions made out of angefrustration) is an essential skill for any successful poker player. You might play a sound game of poker and apply good BRM, but you will still lose if you let your emotions get the best of you. After a loss, rather than being angry and frustrated, you should evaluate your decision-making. If your decision-making was good, you just got unlucky and you shouldn’t worry about it since you are playing for the long run (remember that variance teaches us that anything can happen in the short-term). If your decision-making was bad, you need to learn from your mistakes and move on. The key here is to always have a positive mindset: making mistakes is part of the learning process and should be seen as an occasion to improve. Being angry and ranting, on the other hand, rarely result in anything positive. Again, this translates very well to investing: - Don’t be impulsive, don’t let your emotions cloud your judgment. You should not FOMO because the price is pumping, nor should you sell because of FUD or price corrections. If you believe in a project, short-term price changes (did I hear someone say “variance”?) shouldn’t bother you. - Don’t get stuck up on losses. You bought the top and it crashed immediately after? You sold the bottom right before a huge rally? Don’t let this bother you: what’s done is done and you just need to move on and make the best of your current situation. - Have a positive mindset. Anger and frustration lead to nothing. Yes you could have bought in 2009 when you first heard about it, hindsight is always 20/20. Stay positive and keep learning/improving yourself. The good thing about all this is that it goes way beyond poker or investing. Being aware of your emotions and how they affect you, learning how to handle losing even when you were “supposed” to win, etc… All this can tremendously help you in all aspects of life by making you less impulsive and more rational in your decision-making. Now, this leaves us with our last fundamental principle of a sound poker strategy: - Basic stats and probabilities (i.e. Expected value/Odds) To become an accomplished player, you will inevitably have to learn about these simple mathematical tools that poker players use all the time in their decision-making process, such as odds and expected value. To make it very simple, the expected value (EV) of any bet is (REWARD \ WinRate - RISK), meaning that if you can bet 1000$ with a chance to win 10k$ half of the time, your EV is *(10000\0.5)-1000 = +4000$**. Obviously these are great odds to take as long as you have enough capital to overcome variance. But things would be very different if the odds of winning were only 5% as your EV would then be negative *(10000\0.05)-1000 = -500$.*** Now this is clearly a bet you should not take… Now that you know probabilities, statistics and game theory are useful decision-making tools in poker, guess what? They are also extremely useful in investing! Even better, the study of game theory with problems such as the “Byzantine generals” or the “Three prisoners” has been, along with cryptography, the foundation on which blockchain technology was built, enabling the trustless and decentralized services that are about to revolutionize our world… Assuming this was enough to pique your interest and make you want to dig deeper, I’ll just add that just like the other topics we discussed and as you might have guessed, this translates very well to investing and also to pretty much anything in your life: - Learn how to break down complex situations. Logical thinking paired with a statistical approach will help you break down any complex problem into several easier problems, making the whole thing a lot easier to approach/comprehend. - Base your decisions on a methodical and rational approach. List every possible outcome along with its associated upside/downside, estimate the probability of each outcome to occur and make the best decision based on the information available. My point here is that risk management, emotional management and statistics/game theory are all awesome tools that you should definitely add to your arsenal. Not only will it improve your money-management and investing, it will also be beneficial to your decision-making and to your life in general. Of course poker is not the only way to learn about these, but I personally found it to be the best practice ground to refine and improve them, which is why I strongly encourage you all to try it out and study the game. I hope you enjoyed the article, and I wish you all a happy 2021 bull run! May we all come closer to retirement and financial independence! TL;DR:more than a game, poker is a school of thought. It teaches you to be reasonable, to assess the risk of every single choice you make, to overcome you emotions, to play the long game rather than the short game, to make informed decisions, etc… This has made me a lot wiser in every aspect of my life, which is why I strongly encourage to try it out and read about poker strategy.
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