A headsup for anyone using localbitcoins. A lot of accounts are being hacked lately, and a friend of mine got hacked too. If you do have an account and don't use it from time to time, its best to check out this page to make sure, you are the only one logging in: localbitcoins.com/accounts/security/login_history/

Make sure all the login IP's belong to you.

If you want the maximum rate, then it has to be an exchange with the highest price and lowest fees. You can also opt for something like lbtc for paypal, which should pay you a higher amount. But that comes with risks as paypal can be charged back.

I think they definitely can. The reason is that gamblers usually keep playing till either they win big or bust. Even at 0% house edge, I am sure things can sway to casino's side where they would eventually win the same amount.

If its something like poker or sportsbetting, then I just invest it into my bankroll. Isn't that the point ? To grow your bankroll so you can become big in the future if you are doing well. I certainly did that with poker aand advanced to higher buy ins.

But how is that ?

I can see the fees they paid on the blockchain. Are you saying they pay that fees for 2-3 transactions and charge each one separately ?

Well I feel it might be earning them more money, but it also scares away people from using them.

It is actually 0.0011 as I pointed above. I don't hate coinbase, but transactions from localbitcoins for example has a fees of around 0.0005. I would like Coinbase to allow me to set the fees, instead of charging me 2.5-3$ of fees on every transaction.

Too bad that Coinbase increased the minimum set fees on their platform to 0.0011 BTC which is around 3$ in transaction fees. Now it simply doesn't make sense to use bitcoin for anything less than 100$ , because i would be paying the same fees as using an option of paypal.

Do Not Risk a Penny on this

Here is why:
1. This is not a new idea. I work for a utility company and we have been investing billions in microgrid projects. This is exactly what it is. You create a local community / local grid, where people can support each others energy demands. The only exception here is that they are creating a decentralized buying/selling system.

BUT utility companies are never going to allow this, because it does not pay to maintain the traditional grid infrastructure.

There are already laws in place for exactly this reason, that people cannot sell their electricity to other people directly.

What this company, and other similar companies like trans active grid are doing is creating a token to make that sell-buy to get around that law(which states money isn't to be used).

Here is what will happen after. Governments will realize people are trying a way around and will BAN any asset trading that would lead to violating that law. All the money invested in these companies  and their platforms will collapse.

Utility companies in the near future will be launching microgrid systems.

2. Volatility in the Token Market:  The token that the company is selling again is not real money. They will be used in the platform they are launching, which means people will be buying and selling it ultimately leading to a market for that token on an exchange.

So if I am a person in a small society looking to participate in a decentralized energy production and buying platform, I would firstly have to buy these tokens, and then sell it to meet my real life demands.

But this  token will be traded on an exchange, the price will be volatile just like bitcoin and hence a normal person would simply not be interested in such a technology due to the price variation in the tokens. Because that could mean losing money by selling to the platform as theilr sole incentive was to be informed on who they are selling to, and getting slightly higher price than selling to utility companies.

 3. No Need for Decentralization on grid : Governments around the world buy electricity on smart grids at competitive prices. There is really no need for decentralization of grids except in third world countries where there are problems such as energy shortage etc. because utility companies have a monopoly and benefit by power outages.

But I predict that as smart grids evolve, companies like Tesla will take care of the buying/selling platform by offering something like Uber. But again that requires privatization of the grid.

And all the subsidies and incentives government provides are only to those selling and buying from the grid. They won't offer it for a private microgrid.

4. Smart Meters:
Utility companies have started providing free smart meters to its customers. What this company intends to do is use the blockchain for accounting of the electricity produced and used. But it will require customers to install separate meters which would cost a lot. Things will go wrong, and will need to be fixed.


5. Storage: Storage is currently a big issue for solar. Installing a solar system is expensive, but installing a storage system/batteries is even more expensive. Hence most of the houses that buy solar, usually do it as to only satisfy 60-70% of their electricity needs. A lot of those houses usually do not generate an excess. This means what this entire project is relying upon i.e community buying and selling is not going to be a big thing in a neighborhood. 

What I am trying to say is , that blockchain and grids is a great combination. But utility companies have already started doing and investing in it. In general there is no reason for one resident of an area to see the production/consumption of another, which means that there is no need for a decentralized electric grid system. People have meters in their home and all the data relevant to them is already transparent.

All these companies are doing great work, but I don't think a Token sale is the way to go because once the token is on an exchange, it will kill the motivation of the local resident to even participate in that purchase/sale.  What these companies need to do is find investors for a direct investment than creating an altcoin to just get more money, which I feel is the scammy part.

Sorry for misunderstanding here. So I would assume the deposit system would be similar to what those guys used in their ICO platform.

But how do I make such a system is my question. And if by solid foundation, you are referring to that, then what is it called ?

Thank you for the reply. I have never played around with Ethereum. Can you link or point me to something I can look at, to better understand this process  ?

Or what is it called ?

Hi there ,thanks a lot for posting this. I was able to buy the course hero account when I had posted this, and have no use for one right now. Will let you know if I do in the future. Locking the thread now.

I am making a gambling website on wordpress as I am not a professional web developer and have been trying to integrate a deposit platform to credit accounts and do withdrawals on the website.

Can any developer here suggest on the right resources to look at for achieving this ?

Would really appreciate it and would be happy to reward if I do get the site up and running.

I am a poker player at Nitrogen and I find it sad that the weekend big flop tournament requires flop to be played at blinds of 0.1/0.2. Can you please reduce that, as thats just a little more in prize money than the regular 100 flops, but requires much more effort to be a part of.

Almost every coin is a pump and dump. I guess we can all agree that the currency component of any coin is not going to happen soon. Neither are the applications and everything that coins promise. Eth promises that too, but it is not happening anytime soon. Hence the only reason its rising right now is the hype. Won't call in pump and dump, but eventually large holders will dump someday.

I am interested in the coin and have been trying to do a little research about this. How much was the price of this when this was sold prior to being launched as a coin, during the ICO ?

Sure it will be better as a gambler for me, but I don't think any casino owner would take that risk. They can lose everything in one go to a high better just based on luck.

It is also why no one has ever done it till now . Just a no win.

Was reading this article by investopedia that bitcoin could hit 100k in around 10 years: www.investopedia.com/news/bitcoins-price-could-cross-100000-10-years/

Well, thats when we will be all blown away. But I doubt its going to happen.

Not for bitcoin. I have been looking for a shorting website, but found that the interest is way too much. It is around 0.2-1%  per day for bitcoin, which means that if you short 1 btc and it doesn't drop in 100 days, then you lose all your money.

Now is the time I would short bitcoin and other coins like ehtereum. They are all running and growing under a hype, and the price is only dictated to be high for a short time due to that hype. Soon it will all come down once the market starts correcting.

Wouldn't suggest investing and starting a site if you don't have a new idea. The market is already too saturated, with 3-4 players in almost each sector like casino/sportsbook etc.

If you do start, you would need atleast 25K plus for funding a sportsbook(based on my research).