Do not confuse Bitcoin faucets and gambling sites, with games that are using Bitcoin as a in-game currency. If you know the difference, you will see that these games are non-existent at the moment. The gaming community seem to think it is a good idea to create their own shitcoins, and then to sell that to their users. They create it out of thin air, and people pay through their ass for it, and then they can only buy digital goods within that game with it.

If they used Bitcoin, they would have had a much bigger network of users to tap from, and these users would have used a trusted coin which is accepted everywhere. ^smile^

There are mentors on this forum every day, but as with any other free service, you will have to sort the good from the bad. Take some time, and read through the beginners section of this forum, https://bitcointalk.org/index.php?board=39.0 and you will quickly see who is trusted and knowledgeable about the subject and who is just posting garbage.

Block/ignore the people who are posting the garbage and concentrate on what the experienced users are saying. The rank is no indication on how knowledgeable a user is, so you have to trust your own discretion. ^smile^

Well, we hope that the transactions will increase enough for the miners fee to be enough to cover the loss of the miners rewards. This can only work, if adoption grows and transactions increase relative to the miners rewards. These fees must still be enough for the miners to make a profit, and based on current estimates the break even point now between making a profit or making a loss, would be about $200 per Bitcoin. < very broad estimate, not applicable to everyone >

So there is a backup plan, but it is still unclear if the adoption will grow enough to generate enough miners fees to replace the block rewards in the furture. ^hmmmm^

You can also add the fact that these online lotteries have no independent audit from a third party to verify the draw results. So they can basically claim anything they want, and you just have to believe what they are showing you. This whole site is based on <blind trust>  and <so-called reputation>

You believe that Freebitco.in is legit and provably fair, because they have been around for a long time, and OP have built a reputation for himself. That reputation is built around <time> and also a history of regular prompt payments every week. That does not mean to say that the owner are not skimming funds from the lottery to pay for these payments every week. < We have zero information, so we can only make empty assumptions, based on the fact that NOBODY has ever reported that they have won the lottery or that they have hit the $200 >

The domain was bought on auction in 2012, I think : https://bitcointalk.org/index.php?topic=96009.0
648 historical records for Freebitco.in.
The oldest record dates back more than 5 years.


The owner also have the advantage that the users are using their payouts from the faucet to buy lottery tickets, so most of the expenses that were suppose to go to the users, can come back to the owner, if the lottery is rigged.

Just remember one thing, this is empty speculation based on pure observation and logic, nothing can be proven, because no information is available to analyze. ^hmmmm^

I still want this site to be legit, and I still want them to implement some sort of verification system to validate their claims, because OP is a nice guy and the site is the best of all the faucet for a few years.  

Have you looked at the amounts other people spend to win? Look at the lottery results history and at the amount of tickets people have bought and how much they won. There is not correlation between the amount of tickets you buy and the chance of winning, because it's totally random. < Or so they claim >


If there were, you would have the following scenario :

The winners could be bogus accounts being created and funded by the owners to win the coins. Whatever coins they push in there, will come back to them in winnings. So they only need to wait for everyone to buy tickets and then check to see what the highest amount was, and then buy more than that amount and take the big prizes and then leave some smaller prizes for people to validate that they won something from the lottery.

A Lottery can be rigged in many ways, if you have zero transparency and if you can justify that by saying that you are protecting the users privacy.     

My advice would be for people not to use online services to store bitcoins for long term, because those services might abandon their projects and you would be left stuck in the cold. If you want to store bitcoins for the long term, you would have to use paper wallets. This way, you are not dependent on any service for the future of you money.

Bitcoin developers working on the Bitcoin protocol come and go, so there will always be someone willing to fill the gaps. They can make any changes they want, but it is still up to the majority of the users to decide, if they want to run that software <changes> or not.

A big failure could result from lots of things : Regulation / Large services being hacked / Mining centralization etc..

You have to be very careful with this, because there have been viruses and malware that exploited the copy & paste function and injected their own Bitcoin address, when it detects that you are using the copy & paste option on Bitcoin addresses. < Hope that makes sense >

You have to add a warning text, for people to double check their address to confirm that the copy & paste option was not hijacked in any way. ^hmmmmm^

I will take this from another angle, which is : Use case

You will have to determine if you want to compete with Bitcoin, or if you want to compete with other Alt coins. Last I checked, there were over 800+ Alt coins active.

Most people find a specific "use case" for their coin, and build on top of that. Let's take an example : You create a stunning viral game, where people make transactions with your coin. The "use case" is the game, not the coin. We have the same problem with Bitcoin. People needs some incentive, to move from one payment option or currency to a new alternative that is better. If it is not a improved concept, they will have no incentive to move. ^hmmmm^

If your coin offer no improvements over Bitcoin, nobody will use it. If you have a incentive <game> to push them, they will move.

The white paper did not define a specific region or group of people, so we have to accept that it was designed to be a global p2p payment system. Luckily for us, Satoshi made it divisible so that we can have loads of smaller units within 1 bitcoin.

The remaining option, if every other option was exhausted, would be for us to decide to make changes to the protocol to allow for more bitcoins, but that will never happen. < We cannot even decide on block sizes >

Not to be a party pooper here, but if you look at the top left hand position in that screen grab, you would see that it might be a team based game. < Looks like player names > So the discussion between those two players, could just be the player defined name, being incorporated into the game text. < Insert player name >

What do you think?

Not if you want to act out your fantasies. I am happy in my relationship, so I do not need services like this, but there are people out there who have weird fantasies and they want to engage in a non-threatening way, not to endanger their partner. So they act out these fantasies in Cyber space. < Not saying this is good or bad >

Some people do not have partners, for whatever reason, and engaging with pretty women and men online, might help them to cope with that.

So let's not judge, before we know what every person's reason is. ^hmmmmm^

I can say from experience that it happened to me, because I was at a party and a drunk geek told me that Bitcoin would be the thing of the future. This was mid way into 2011, when there was a little spike. I did not take him seriously, because at the end of December of that year, it flattened out again.

It was just after the peak in 2013, when I saw him again and he was driving a brand new car, that I took him seriously. Since then, I have been buying non-stop and most of that was from him at a small discount. ^smile^

We will see more senseless wars for Oil under the blanket of terrorism and increased Police state governance and continued debt spiraling out of control. Then you will see riots, like we have seen with other countries and this will have a global economic impact on the innocent people in other countries. ^hmmmm^

You cannot go on anything these politicians are saying now, they are concentrating on gathering votes. Empty promises will be made and the opposite will be done, when they achieve their goal. 

There are many ways to kill a cat. One guy can download it, and distribute it, and just sync up when a friend needs it. In some countries they have different rules for local and international bandwidth. So you could use your local bandwidth to download the Blockchain, if you need to do that.

People will always complain, just because they can. It's in their nature. ^smile^

Even though nobody would truthfully respond to this, I still think some people on here are already on that level. The early adopters will definitely have more or less 1700 bitcoins stored somewhere. { At my calculations, with a current price of about $600 per bitcoin. }

Other currencies that are currently much weaker than the US $, { 10 to 15 times } should already have Bitcoin millionaires in their countries, because that require only 120 to 200 bitcoins. ^crazy^

Centralization are bad in so many ways, for example vulnerability to DoSS attacks and also forced closure of sites to just name a few. Innovation like this, will open the gate to other projects like decentralized exchanges. We are seeing increased movement towards Police state governance and abuse of power, so we need to protect ourselves with innovative technologies like this.

OP, thanks for the info. ^smile^

If, they have been mining since June, they would have mined for more or less 4 months. This gives them a Gross income of +/- $ 12 500 per month. I would say, that is not bad for a experimental phase in their operation. If I was them, I would have done the same. Invest a little bit at the start, see if it is profitable and then expand.

You do not jump into something without testing the water. ^smile^

Nope, If there are jail time involved, I would not use it. I have a family and a full time job to think of and no technology is worth the risk to go to jail and lose all of that. I would be one of the voices going up against laws like this, but I would never endanger my family.

The bitcoins I own now, would be send to friends in other countries where bitcoin is legal in exchange for legal fiat currencies. ^smile^

You can have one of two scenarios for this to happen :

1. All coins are mined, and nobody is selling their coins. < The estimated date is 2140 based on the block reward halving frequency of four years.  >

2. Nobody is selling any coins now, and all new coins are being hoarded by the miners. < This will also not happen, because mining for bitcoins is expensive and the money to pay for those expenses has to come from the bitcoins being mined. >

So, in conclusion : There will be bitcoins in circulation until 2140 and long after that time, when we will not be around. This is to say, if Bitcoin are not replaced or something bad happened for it to collapse.  

People get flustered by the smallest things, and by the looks of things, the traders on the world markets are the worst of them all. The US Presidential election is sparking a lot of attention, because Trump <a non-politician> are going up against a <strong politician>

Trump is very outspoken and a Reality TV celebrity with very controversial views and opinions. If some of his statements becomes a reality, when he wins the elections <which I doubt> then this will create market turmoil all over the world. People will try to find safe heavens to protect their wealth and they might see Bitcoin as a option to do that.

I saw a joke the other day, it goes like this. < The one guy said to his friend, I would like to see Trump as president. Friend : Why, He is a idiot! The guy : Well, I was not around when Kennedy got assassinated, so I would love to get another chance at seeing something like that being done. >  

I hope this does not happen, but the USA is a strange place and politics is dark business. ^hmmmmm^