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Content
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https://warpcast.com/~/channel/cryptoleft
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Andrei O. pfp
Andrei O.
@andrei0x309
There is a law project in my country about gambling, which is beyond many people's imagination. So the TLDR: - Citizens can only gamble 10% of their income - Banks need to watch for all transactions and stuff to determine if more than 10% is spent on gambling - If more than 10% is exceeded, the gambling organization, not the gambler, will get a fine Now there are many ant-gambling laws in EU, but this seems one of the craziest because it breaches many law principles such as, privacy rights, non-discrimination rights, and culpable responsibility rights. In this regard, China is just better as it just bans gambling altogether and that seems much fairer. IMO, I agree with most of the studies that gambling can't help society in its current form. It is yet another wealth transfer mechanism from the poor to the rich. If we can't invert the equation by targeting and implementing redistributive measures from rich to poor, gambling is worse than a zero-sum game, and in fact, it accelerates societal downgrade.
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Garrett pfp
Garrett
@garrett
Gambling is basically as old as humanity. Speculation has fueled a lot of innovation, especially around technology. I doubt we get Google, Facebook, Tesla, Fintech, etc without the dotcom speculation bubble I don't think prevention is best handled with bans or limits on people's rights to transact how they please. A better approach is far more education around financial literacy and markets. There should be a better baseline level of knowledge around finances, investment vs gambling, etc
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RoboCopsGoneMad
@robocopsgonemad
What do you do in that interim between the present and the future when most people (idk 80%?) are educated enough to gamble responsibly? Do you think you can educate faster than the house can prey on the market?
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