Bitcoin Forum

https://btc-e.com/bets

I really don't understand this. They are letting you bet on what the price of bitcoin will be in 5 minutes. How is this fair at all? Could a whale not bet and then buy/sell to take everyones money?

You are right . Stay away from such sites and not recommended.

If we are able to bet on bitcoin prices then what will be the difference from trading bitcoin prices.
We are already having few discussion topics like whether trading is similar to gambling and vice versa and now I am wondering how meaningful those topics are.

No, that's more or less the same idea as opening a short or a long.
It's just made in another way so it's even easier, that's all.

I have to personally recomend btc-e as a very professional site, they have a very good support even if not the best volumes ever.

The time interval is so short though. Short/long is over longer than 5 minutes. I wish exchanges had more features but I don't like the way this "betting" is designed.

It's easy, win your bet is determined after 5 minutes since the bet was made, if you bet buy then the final result after 5 minutes bitcoin prices must be above of your bet and so also for the reverse.

sorry if i'm wrong, for to not wrong you can check on their site how to play these game.

This is kinda like binary options. They let you bet on pairs of the forex if the price will be up or down and the interval is only 1 minute. They give you 85% payout if you win. They at btc-e.com/bets are letting you place such bets because the result of the people who have played binary options have almost always been negative for the person and positive for the house.

I think its same type like you go to trading on stock market or maybe it binary or options

You must be new here. Btc-e been around for a very long time and has hosted Altcoins longer than most exchanges on the web. You may want to do some research on Btc-e and their trollbox before trying to post meaningless things.

As for betting on the price per Bitcoin, I wouldn't do it. There isn't any point unless you own a huge amount of coins and you could manipulate the price of that market and get your money back though you would most-likely need millions of dollars just as a safe measure in order to do it. Looks fun though.

iam first hear about BTC-e open bitcoin option trading
how long is BTC-e open bitcoin option trading, during before hear BTC-e, the best option trading, the bes bitcoin price betting only use secondtrade.com

This is just like binary options just like been mentioned above since we are basing on the price movement of bitcoin on an interval of 5 mins which is really short in my opinion this is also a great game if you do know how to predict the price but its very risky. 50-50 chance.

gembling site  ;D ,, i like  Binary for trade

Your thinking of secondtrade.
But every 5 minutes is sort of weird. :/
Onehash a similar way to bet on the price but it is timed for every 5-6 hours which is very heard to predict.

I guess that is right, that is a possibility that a whale with, say, 1,000 bitcoins in his account can just do a quick sell on his coins but before that put a bet that it will go down, for sure it will since 1,000 bitcoins could practically crate a panic there and the prices will go down. Then he wins the bet also he has so much money to buy back a very low rate by that time.

If you are familiar with secondstrade it's a the same game and type of gambling. If you are good in predicting prices then go for it but if you aren't better not. But it's not that bad to try it, I've that before but it's quite hard to predict what will be the price of bitcoin for the next minutes.

What OP is saying is that someone can control the bitcoin prices if they have a lot of it, which is easy with just a few hundred bitcoins. The bet is "influence-able", forgive me for the lack of a better term to use. Unlike a dice game where you can don't have any way of changing the outcome no matter what you do.

Yes I do know about it and he said


That he don't understand it and for just 5 minutes the same thing with ST. And with the manipulation it really depends on the whale if they are into this type of game.

I'm looking at the site right now and I don't get it.  Are the odds always at evens?  So if I bet .1 BTC on up I win the same amount if I end up making the correct bet?  If so then there's value in playing this game especially if you love watching the market tick by tick.  


What are you talking about?  That's BTCe.  Go spam somewhere else.

btc-e do this? how it could be? i think we don't have to go with that sites because i think its not fair, it means that bitcoin price is manipulated by big whale and this could make people get into trapped. but i don't know what is people react about this and i think its better for me to not make a bets in that site because i am sure in out there, many sites that is waiting to visit and waiting us to play in their site. but i am curious about this bets and maybe i will take a look into the site and i think i want to know more.

this seems to be a very new feature that btc-e.com exchange has added. according to their website (here: https://btc-e.com/news/234) they have added this feature called bitcoin betting last month (10 Feb). you can read the details in the news link i gave above.

and in my opinion it is a cheap move. an exchange is not a place to gamble. and if you can predict the price it is best if you trade bitcoin instead of betting on its price.

It is not something new on gambling world. Because of extreme fluctuations of bitcoin prices, it's good to place a bet on up or down the price. I see it first on secondstrade service on their website.

People are making money in millions doing this, however I wonder how does it work as which exchange price is the base reference price or the average price is taken? if average price is the base then you going to have a very big whale in order to manipulate at least 5 major exchanges prices all at the same time.
Another method would be selecting the last digit of a price in every 5 seconds like you bet that after 5 seconds price will have a 1 at the end like $1191.
It all goes back to the old fashion dice and just a matter of mathematics only painted in an exciting strategy.

you are confusing betting on the price with trading.
when you bet on the price to go up or down within a couple of minutes and make millions you are surely losing 2x millions doing it because it is gambling.
but when you are trading, and make a bet on price goes up or down you don't lose if it goes down, you just make less profit because you can get out and enter at lower to sell on high again and save on big losses and make the profit.

Bitcoin price betting is completely risky than normal sports betting, because with sports betting one can at least predict close results. With bitcoin speculation is the only possibility. Even if these events were added to directbet or something trustful then go for I. Else don't show interest upon such events.

curiosity will makes you try to use the service mate, i don't want to this feature since most of us knew that btc price can be manipulated by the big
whales if we go and bet using this site and whale's detect this they can easily move the price to their edge and most of the players will lose, its the reality inside crypto.

Yeah. Bitcoin price is always varies and it is very hard to bet on it's price because of many factors to be considered. But it is interesting to bet on it considering that bitcoin behaviour right now is on uptrend and we made a profit with that hint. I wonder what site will offer this feature. Even directbet is still no intention about that.

Not fair at all but awesome still! You could influence it big time!

Ahahha, a thought that was not a good friend. for all things definitely have goals and purpose, so if the price of the bitcoin used for betting then it's not a problem. Because they also want to get a huge profit in a short time, so many people are vying to find the best and fastest way. I am convinced that Btc-e.com have a reputation and a high confidence as well, so that's something that's fair. but it must be done the right way, in order not to get a big loss

My friend, just stay away from those sites, unless you can predict it every now and then.
They just going to get what you have saved. You hard earned money is at stake if you invest in these type of sites. So be careful with them.

The chick in your avatar, is that you? you don't need to stress your skin by thinking too much sweetheart. let me gamble with a money that I don't have while trading requires you to have money and actually buy and sell to profit, in this case you predict the future price and you'll win if are correct.
This option is good for those with small pockets, they can also cheat easily since it's called "bet on bitcoin price" no hassle to implement a provably fair mechanism.
How are you going to prove that the price was at $xxx in a certain time? you can't but they can show you whatever suits them best and let you to blame the "bitcoin price".

Good job showing people how to pick-up chicks my man. Real smooth!

Betting on bitcoin prices are really stupid in my opinion, unless they are linked to a trading platform like poloniex or kraken, then I think it is possible to do. If you see that it actually rises and falls similar to the real time rise and fall of the exchange then you have a chance to manipulate your bets. But that is not the case in any gambling binary trading game. They indeed just show what they want to show, heck you don't even know where they are pulling their data from.

Its simple to me, everything in this world is based on chance and for that reason someone can win and another can lose simply by making a try. Right on this forum, I have seen a bet site that allows you predict the last number of your transaction id and if you correct, you win big and when you wrong, you lose all. its as simple as that when you are ready for it, just go with for it. But I am sure they will have a particular exchange site to serve as a model for their use...

The risk for these kind of betting is really high and with the high volatile nature of bitcoin you never know what the price would be even at a time gap of 5 minutes.Most gambling sites have a house edge which is much lower risk than predicting the price of bitcoin for a very small amount of time.
With a service like that even the exchange can manipulate the price of the coin if some huge amount is wagged . :)

This is the more dangerous thing to find what is the price for 5 minutes time gap. It's impossible to predict the exact price of the Bitcoin in particular point of time. No experts can give you the exact price. But this type of betting is more dangerous than other games in gambling. I don't take a risk, and I don't like to learn this betting.

I think this is just the same as second trade that you have a choice to bet on high or low the hard part there you need to send every time you are betting.. And i think it is also the same in sparkprofit which is you will be bet and set your own margin..

Yes second trade does have the same method of betting but in the case of second trade they use a price range from an exchange not controlled by then but i dont know what will happen when an exchange start these type of betting and if they can influence the price in their exchange then it will be a monopoly as they can determine what the price would be at a given time.

OneHash is by far the best place to do this sort of betting as they have oil prices and gold prices also other commodities to bet on all in one place. ;D

They can't really control the prices of bitcoins or any altcoins. If they do, they would practically be showing incorrect stats on their trading platform which would in the end just hurt their business. For example, if they want to show a pump just to make a dump bet lose, that would influence the market and really destroy the equilibrium of things in the exchange.