This is very good Australia taking bitcoin . For this bitcoin price will be high. I think Australia will inspired by japen. Bitcoin show there adopteing increasing day by day and many other countries are Wait for this.
It is good for the price, but not if they over regulate the whole matter. Bitcoin is better when it is used with full pseudo anonymity and when governments gets involved, they implement strong regulatory requirements for people to use this technology. These requirements strip away all pseudo anonymity and people can then be linked to their coins. Bitcoin is then less anonymous than fiat cash. ^sad^ |
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The Decentralized network has nothing to do with this, it is the Pseudo-anonymity that seems to be the issue here. They hide their crime by using Bitcoin and this makes it easier for them to get away with it. Now they are hoping that they will not use a mixing service that are not a government front company that collects data for the special agencies.
There are many other Crypto currencies that are more anonymous than Bitcoin, so I do not understand why they used Bitcoin. ^IwanaCry^
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One possible answer to this is, that they are using this to flag Bitcoin owners. You can expect them to look more closely at you the moment when you reveal that you are a Crypto currency user. You apply for a VISA and you pay for the application with Bitcoin and you are immediately added to "The List"
At this stage, they do not have a way to determine who is and who is not Crypto currency users. ^easy^
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We’re really sad to see all these unfounded accusations. Simply, due to our size and volume (BitCasino paid out over 3000 withdrawals for a combined total over 1000 BTC just last week) we see many fraudsters trying to abuse and take advantage of our near instant payout policy. Our goal is to be extremely fast and fair with everything we do to give our players, the best experience possible, however we do not tolerate fraud or public forum outcries for nefarious purposes. If you have a legitimate issue our support and security teams will solve it diligently and fairly, it’s as simple as that. We strive for innovation in the bitcoin gambling world, being the first bitcoin operator to bring such providers like Net Ent, Evolution and Asia Gaming live dealer to the bitcoin gambling world. We are very excited to soon launch the player ‘Terms and Conditions’ in a smart contract form which will certainly be a first in the fiat and bitcoin gaming industry as well as having all raffles and lotteries to utilize blockchain technologies and provably fair for even more transparency. Our game portfolio currently consists of 1200+ games from 16 accredited and certified major providers, which are thoroughly tested, licensed and regulated by multiple countries’ gambling commissions. Needless to say, we have no way to affect or control the different games’ outcomes by any means, just like fiat operators can not affect the game outcome on sites like 888 or Bet365. Whilst millions of game rounds get played every day, occasionally, there are interrupted game rounds and technical errors, which unfortunately happen. Our 24/7 live support (together with game provider’s tech support) resolve these as fast as possible. In line with our transparency improvements, we are soon introducing sections on our site where you can review math and probability statistics such as RTP, game volatility and hit frequencies. Regarding fraud and in line with our no tolerance policy, our security department has been very focused on eradicating Double Spending fraud and multi-accounting Bonus Abuse. Unfortunately when caught, these fraudsters then post here on the forums with the hidden agenda to claim funds back while cultivating public support without exposing their fraudulent activities. We very rarely share such case evidence publicly nor discuss our fraud detection techniques used for obvious reasons. Our security gurus, in their spare time, fight cybercrime on military grade level and are well-versed in the application of darknet resources, blockchain analysis, IP masking and document forgery. Digital Identity Theft and/or forgery is a serious criminal offence in most countries around the world, and regardless of pseudo-anonymity of bitcoin payments, we will not stand for it and will report it to the relevant authorities if needed. If a player attracts the suspicion of our security team, there will be a valid reason for a security review and our primary goal is to resolve it with the player in private quickly and fairly. Whether the accusation is true or not, we recommend you just be honest and transparent with us and we will be the same with you. Cheers, BitCasino.ioPS. game-protect we would be very happy to have a skype call with you to run through all the issues you have with us and answer all your questions. Further we hope then, that would open the door for a transparent mediation process, should any bitcasino players come to you with legitimate issues. Thank you for the feedback. I wonder how many of these complaints originate from people that are shilling for other gambling sites or even people who lost some money and wants to blame the casino for it. They might lack the knowledge on how gambling work and might come to the wrong conclusions. I have had some problems before and it was quickly resolved by the 24/7 call center assistants. ^smile^ We welcome your attempts to make things more transparent and I think you are offering more support and information on issues than most other small operators are doing at the moment. Looking forward to the new features. ^smile^ |
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I can give you some advice that worked for me. I bought a bunch of bitcoins when the price was very low. < Example : 20 bitcoins @ $200 ==> My capital investment = $ 4000 > I knew that I needed to reduce my risk, so I waited for the price to rise. The price went up to $400 per bitcoin and I sold 50% of the coins immediately. < Now, I had the $4000 in fiat that I initially invested and 10 extra bitcoins. >
The risk of losing my initial capital investment is gone now and I can take some risks and even more profits from the remaining coins. The price went to $1000 and I sold 50% again < taking $5000 pure profit and still have 5 coins left > The price dropped again and I bought some more bitcoins with 50% of my profits in fiat at $500, bringing my total back to 10 bitcoins and $2500 profit in fiat.
I sold 50% of those coins again at $1500 pushing my profits up to $10 000 and I am left with 5 coins.
*This is only an example, the amount of bitcoins I bought and the amount of money I invested is my secret to protect my financial privacy, but you can learn from this strategy. Get rid of the risk first and then take chances. ^smile^
This is such a nice advice really. You are the first one who I have seen doing this compared to others regretting that what if and some of them spend it. Since we know that the future is indefinite and the expectation of Bitcoin at that time is not that much without knowing that the price will rise this high then I could say you have gone into a safe play which really benefited you in the long run. As for me, I wish I have known Bitcoin since then though I don't meddle so much in what ifs and what I'm focusing now is what I can do today so that the time I spend thinking of what ifs will become productive and make use of it in a great manner. I salute you for that wise decision sir. Thank you for the kind compliment. Just remember not everyone might be as lucky as I might be, but also remember no investment comes with zero risk. You just need to manage these risks and reduce it in any way you can. It is never too late for someone to follow my strategy. The Bitcoin price has shown that it always goes down after a big spike. < timing is everything > Wait for the price to go down and start buying some coins when the price is much lower. Then WAIT! The price usually goes up again, so you can sell some coins to get some of your initial investment back and still have some coins to play with. ^smile^ < Rinse and repeat, until you have all your initial money back and then start taking bigger risks with the profits you made > Enjoy it, I hope it works for everyone in the future. Your original strategy sounded decent but now you are talking more of short term fluctuations, the better solution is to buy in stages, for example xxx$ every month or week for a smaller amount because at the end of the day even the best trader doesn't know what the price will be. You can still calculate an average buy price with this long term strategy I'm suggesting and sell out to recoup your original capital. Wrong, buying monthly or weekly will force you to buy, even if the price is high. My strategy is focused on buying when the price is dipping after a spike or what some people might call a bubble. You have to buy low < when the price average out on the lowest level again > and then just wait until it rise for the next little bubble, to sell again. Never sell everything, because you never know if the next bubble will be the one that takes you to $10 000 or even better $100 000 per bitcoin. < You want to have flesh in the game, when it reach those levels > ^smile^ This is not risk free, because there are always a risk that the whole thing will collapse for some reason, but it is a better strategy to follow if you want to reduce your risk and still have some of your initial investment in your pocket, if this thing goes belly up. ^hmmmmm^ |
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Revisiting the old thread at euphoria moment.  i was wondering the other day about which one of these "bitcoin obituaries" is going to be the first to come up now that price has gone up. and here we go, one of the better ones. i still remember the dip back in the time he said all that. boy that was a great day for me to buy cheap coins. so i think we owe him some gratitude  I think I should also thank him for the cheap coins I bought back then. His attempt to sabotage Bitcoin, failed miserably and it just put a little dent in the price for us to buy cheaper coins at the time. Luckily a lot of us saw through his actions and we stayed in the game and even invested more. Now we are laughing at all those stunts and filling our pockets with massive profits. ^LoL^ |
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I can give you some advice that worked for me. I bought a bunch of bitcoins when the price was very low. < Example : 20 bitcoins @ $200 ==> My capital investment = $ 4000 > I knew that I needed to reduce my risk, so I waited for the price to rise. The price went up to $400 per bitcoin and I sold 50% of the coins immediately. < Now, I had the $4000 in fiat that I initially invested and 10 extra bitcoins. >
The risk of losing my initial capital investment is gone now and I can take some risks and even more profits from the remaining coins. The price went to $1000 and I sold 50% again < taking $5000 pure profit and still have 5 coins left > The price dropped again and I bought some more bitcoins with 50% of my profits in fiat at $500, bringing my total back to 10 bitcoins and $2500 profit in fiat.
I sold 50% of those coins again at $1500 pushing my profits up to $10 000 and I am left with 5 coins.
*This is only an example, the amount of bitcoins I bought and the amount of money I invested is my secret to protect my financial privacy, but you can learn from this strategy. Get rid of the risk first and then take chances. ^smile^
This is such a nice advice really. You are the first one who I have seen doing this compared to others regretting that what if and some of them spend it. Since we know that the future is indefinite and the expectation of Bitcoin at that time is not that much without knowing that the price will rise this high then I could say you have gone into a safe play which really benefited you in the long run. As for me, I wish I have known Bitcoin since then though I don't meddle so much in what ifs and what I'm focusing now is what I can do today so that the time I spend thinking of what ifs will become productive and make use of it in a great manner. I salute you for that wise decision sir. Thank you for the kind compliment. Just remember not everyone might be as lucky as I might be, but also remember no investment comes with zero risk. You just need to manage these risks and reduce it in any way you can. It is never too late for someone to follow my strategy. The Bitcoin price has shown that it always goes down after a big spike. < timing is everything > Wait for the price to go down and start buying some coins when the price is much lower. Then WAIT! The price usually goes up again, so you can sell some coins to get some of your initial investment back and still have some coins to play with. ^smile^ < Rinse and repeat, until you have all your initial money back and then start taking bigger risks with the profits you made > Enjoy it, I hope it works for everyone in the future. |
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I can basically sell whenever I want to, because I followed a strategy where I regained the amount I initially invested, so I am now risk free. I can only lose profits now. I will continue buying low and selling high, to increase my coin totals and also to have fiat available when the price is low to buy some more coins.
I will also keep a percentage of the fiat to buy other commodities, because I do not want all my eggs in one bag. ^smile^
This is after all still a experiment that may or may not fail on us.
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I can give you some advice that worked for me. I bought a bunch of bitcoins when the price was very low. < Example : 20 bitcoins @ $200 ==> My capital investment = $ 4000 > I knew that I needed to reduce my risk, so I waited for the price to rise. The price went up to $400 per bitcoin and I sold 50% of the coins immediately. < Now, I had the $4000 in fiat that I initially invested and 10 extra bitcoins. >
The risk of losing my initial capital investment is gone now and I can take some risks and even more profits from the remaining coins. The price went to $1000 and I sold 50% again < taking $5000 pure profit and still have 5 coins left > The price dropped again and I bought some more bitcoins with 50% of my profits in fiat at $500, bringing my total back to 10 bitcoins and $2500 profit in fiat.
I sold 50% of those coins again at $1500 pushing my profits up to $10 000 and I am left with 5 coins.
*This is only an example, the amount of bitcoins I bought and the amount of money I invested is my secret to protect my financial privacy, but you can learn from this strategy. Get rid of the risk first and then take chances. ^smile^
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It should also be noted that the math gets more difficult, based on the amount of hashing power there are to hash out these calculations. Now that most of your questions are answered about the technical aspect of the math behind Bitcoin, do you realize why this is used? < For instance, Why are coins not simply being generated from thin air without any hashing being done? >
Remember there are no centralized entity to process and validate transactions, so someone should do this. < clue >
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Hey, cut the Kwuk some slack. Put yourself in his shoes. If you'd sold an early adopter's entire stash for $10 per coin, you'd be bitter and disillusioned too. I think he needs a hug.  Ah, that explains a lot. So every time there are a huge price spike, it reminds him of his bad decisions he made and then he starts talking shit in an attempt to push down the price for him to feel better about it. Kwuk we feel sorry for you bud, but you are getting old with this story now. When I see posts from you, I know Bitcoin is doing well. ^smile^ I think we should create a Kwuk fund, like they did for Dorian Nakamoto, to refund you for the emotional and financial losses you have suffered from the bad decisions you made. ^sad^ I want to predict that the sun will come up tomorrow, so be warned. ^smile^ |
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In a sense, "charging interest" is one of the core contributors to the debt problems of this world. The problem is not just the interest, but the exorbitant interest being charged on money you do not have. < Fractional-reserve banking is the practice whereby a bank accepts deposits, makes loans or investments, and holds reserves equal to a fraction of its deposit liabilities. Reserves are held as currency in the bank, or as balances in the bank's accounts at the central bank. >
This practice should be stopped and high interest rates and hidden administration fees should be addressed by our governments, but they prefer to look the other way and when the shit hits the fan, they bail out these banks with our tax money. ^grrrrrrrr^
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Can you imagine what will happen if India also take advantage of this opportunity and legalize Bitcoin like Japan did now? We have seen a massive influx of new capital investments from Japan and it made a significant impact on the price, and this is a relative small country compared to India and Russia. < Yes, there might be more poor people in India and Russia, but the numbers will make a significant difference in small quantities >
Now we just need to sort out the scaling nonsense. ^grrrrrrr^
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You did not miss much, the SegWit vs BU thing is still going strong and LiteCoin started using SegWit and that is reflected in their rise in price. Everyone are happy about the Japanese government embracing Bitcoin and you can now see how a small gesture like this are influencing the price. < Big merchants in Japan started to accept Bitcoin as a payment option >
We have seen record high prices these last couple of days in Bitcoin and some other Alt coins. ^smile^
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Until we get some competition for the big Asic manufacturers and get more hardware into people's hands, we are fk'ed. These mining giants are just growing bigger by the day, and they use our money to do it. We buy obsolete hardware from them and we pay them more fees when the Blockchain is spammed and they mine more efficiently with the help of ASICBOOST and cheaper electricity.
Bend over and take it from behind or get someone to compete with them. ^grrrrrrr^
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The theory is flawed in so many ways. A big percentage of these people are kids or elderly people, who have no clue about Bitcoin. A large percentage of the remaining people are totally illiterate or they have no internet access. < rural areas >
I would guess almost 2 million bitcoins are lost already and some coins are not even mined yet. A very large percentage of the remaining coins are being hoarded and not available to be distributed or up for sale. ^hmmmmm^
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You will notice when the Bitcoin price is high, the faucet payouts will adapt to that and it will go lower and visa versa. I think the first time I used Freebitco.in the faucet payout was something like 1000 Satoshis per hour. I do not even waste my time doing it anymore. < the electricity spend to load the page and doing it every hour, will not be covered by those payouts >
The house edge on the gambling option is much too high, compared to other sites and the Lottery is not provably fair. So they offer very little for anyone to visit their site. ^hmmmmmm^
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It sucks that Bitcoin is not supported, but I understand that the scaling issues and all these spam attacks are driving developers to look at Alt coins for their solutions. There will come a time where a game like this will go viral and it would give whatever coin they use a massive boost. < The killer App >
Now LiteCoin has SegWit to give it some extra boost and Bitcoin is still bogged down in scaling wars with BU. < A total waste of time and energy >
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It sort of funny when you think about it the real 51% attack comes in the form of lost of market cap, and through impotent development
implementation.
This was a very unexpected attack vector.
I think its needs some sort term coined for it....as a cautionary tale to future coins....
I shall call it a
Devexed [Attack]
when the failure dev implementation causes your coin go below 51% of the market share or similar. This causes a coin to go into a death spiral as to market and use despite high demand. There is also an usual pathology where the proponents of conflicting development solutions are incapable of seeing the other side of the argument or reaching any compromise and even attack any suggestion that their position is deleterious to their eventual goal.
So the solution is what? Break away from a system that is based on consensus, to something where centralized development make all the calls? You have to be Bat shit crazy to think that something like that would be a better alternative. ^grrrrrr^ The whole idea about the consensus model in Bitcoin is functioning as it should. Anyone is free to add new implementations and if the nodes think that these new additions is good for Bitcoin, then they start running that software. < No matter who they are > |
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Hey, the guy has style so let's give him some credit. Most politicians do not even know what Bitcoin is and what a hardware wallet is.
I hear he had a crush on his teacher in school when he was 15 and then he started dating her at age 18 and now he is married to her. You got to admire such persistence and drive to reach your goals. He is also the youngest president since the 1700's.
We need younger politicians with drive and ambition and willingness to try new technologies and ideas. Can you see Mugabe < 95 year old president of Zimbabwe > doing the same for Bitcoin?
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