Bitcoin Forum

Hello members,

Is my pleasure  to introduce www.bitcoinprivatebank.com  to the members of this forum.

Send to anyone or receive bitcoins

Send Bitcoins to anyone who have a Bitcoin Private Bank account.No fees, virtually instant and irreversible once sent. It's a great way to introduce new people to bitcoin or for quick transactions.The recipient will receive the payment within seconds and the funds can be withdrawn instantly to a bitcoin address.

How can i earn with BPB?

Deposit funds to the Bitcoin Private Bank savings account and you receive a fixed 5% interest per week .Minimum required deposit amount is 0.1 ฿. Minimum deposit term is 7 days and there is no deposit expiry term.You will continue receiving the weekly interest as long as you keep the funds in the savings account.Principal withdrawal from the savings account can be made if the minimum term of 7 days has passed.We have no fee for withdrawing your principal.About the Referral system...You get paid 3 tiers deep, here is how it works:Refer someone "John" and you get an amount equivalent to 5% of John`s deposit.Then "John" refers "Mark" you get an amount equivalent to 3% of Mark`s deposit. "Mark" refers "Jane" and you get an amount equivalent to 1% of Jane`s deposit.

If you have any questions please ask me btw my name is John, I`m in charge of support service.

Thank you.



_{If this is not the right section for this post i ask a mod to put it where it belongs.}

How are you paying interest (where is the money coming from)?

You're gambling with users money?

Where are you from/What's your first language?

By that do you mean there's no house edge? Or do you mean "provably fair"? Where are you gambling?

What's the house edge?

In a fair game, no matter how small the house edge is, it matters because that is the vig. That is the amount of money that you will lose on average no matter what strategy you employ.

This thread is one of the worst attempts I have ever seen at a blatant outright SCAM.

Please humour me however and explain how you and your friends have managed to re-write the rules of statistics and turn a profit in a game with a house edge.

For those of you who don't know what a Martingale technique is - it essentially means he starts off betting small if he loses he increases his bet size so that if he wins on the second round of bets he turns a tiny profit. This process continues every time he loses a hand until  eventually he wins one.

The only way this strategy works is with UNLIMITED money and NO MAX BET set by the house.

Obviously no casino in the world digital or real is foolish enough to allow this strategy to work.

Sooner or later this guy will run bad and lose everything that is the only certainty with this strategy.

I have made my living as a professional poker player for nearly a decade it is my job to understand probability and game theory. I beg all of you please do not let yourself be scammed by this idiot.

I wasn't asking for the definition of "house edge" (wouldn't be make sense for me to bring up house edge in the first place if i didn't even know what it was). I was asking what this house edge is that is so small that it "doesn't matter"


Because no ones given you money yet. There's so many blatant red flags here.

Every post you make shows a greater and greater lack of understanding of what you are doing.

What is your risk of ruin?

What is the min/max bet you can place?

Can you please also explain how you choose bet sizes, do you use the Kelly Criterion and if so please explain how you arrive at your answer.

What level of education have you reached in Mathematics/ Statistics because you seem to have a very basic lack of understanding of either of these two things.

For those who may not have been around very long - this sort of offering is something to avoid at all costs.

Search for 'pirateat40'.

Well i`m not the author of the betting system but you will have your answer from the people involved soon.

// i know pirate40 ironically i lost my first btc there

Look guys, he's opening a bank. And he's being honest with you. He's telling you he's going to gamble with your money.

Is your local banker any more or less trustworthy for NOT telling you?

If this is a good way to multiply bitcoins why not...the hole system was build with the sole purpose of this.Anyway the bets are stopped when the profits made are  ~1% over 24 hours period.nevermind

But you have this apparently infallible system? What reason would there be to stop it each day?

Still no answer to what your risk of ruin is?

I tell you what I'll give you a hint it's greater than zero.

This has Ponzi written all over.
5% weekly is what annually? Really that high return is not possible unless you need new deposits flowing in to just pay interest.

If you have such a good way to multiply bitcoins on a dice site why do you need my coins?

This should be HYIP

Scam. Yawn. And such a stupid one it hurts.

Kindly go fuck yourself, and try harder next time.

Yes, most probably. A lot of them invents a story like forex trading or something else.

@bpb - you'd have to somehow convince us that it's different this time.

This is a scam, if you send your money to this guy, it will be gone forever.  Also don't think he will pay out in the beginning to the first couple to make it look legit as he knows he is already underwater with this scam, and will take the first person's money and run.  There is absolutely no way anyone can afford to pay 5% interest per week.  It's just not possible, and anyone who tells you otherwise is trying to fool you and steal from you.

He also blatantly said the goal was to gamble with the deposits because he has a, "sure fire way to win".  realize this is impossible as every casino ever would be out of business.  There is no mathematical model that will allow a gambler to have an edge over the house as he describes.  I can't wait to hear the excuse as to why the people who developed it, "can't come out and explain how it works", because in short, it doesn't because it can't.

Invest any money and you will lose it.

EDIT:
Straight from their Rules and Agreements.  This is laughable.  You do not get to pick and choose what agencies and laws you follow.  That is just not how it works.  The rest of your "agreements" page is full of laughable clauses and sentences.

Private bank just like Bitcoin Savings and Trust lmfao

The house edge is the percentage a casino or simular company is winning in the long run on avg on the bet in question.

If you for example would roll a 6 sided dice and bet that it would become a 3 for example if you bet on the correct number and a 3 comes up and you would get 5.7 times the money back then the house edge would be 5% (5.7/6=0.95), with no house edge, 0% your win would have been 6 times the money back instead.

I think drasted is asking how much the house edge is.  Not that it matters much.  It's not called gambling if you can guarantee a win.

@bpb You should speak to Mr. KLYEMAX for a preview of the likely outcome of your plan.