The market does not belong to the whales but they often play with the price of bitcoin. Whales have the ability to improvise bitcoin price because they have a lot of capital. Supply and demand are thing that forever affect the price of bitcoin and it is trader who do.

I agree that exchange can manipulate bitcoin price within a certain range and we often hear that they also have fake volume and this is purely for the benefit of the organization itself.

Sure it does. An economic crisis may not change the price you paid or the value you put on a diamond or a painting, but it will make them harder to sell. So if you really want to sell during a crisis, you'll probably have to sell cheaper than you otherwise would have.

Here's one for you.
https://www.theatlantic.com/magazine/archive/2012/04/the-man-who-broke-atlantic-city/308900/
Didn't really read it thoroughly, but the article doesn't seem to be lying with the fact that he beat those casinos with pure skill since the first casino he visited already had security cams analyzing his every movement to prevent any type of cheating. Card counting may be done in the mind, but it still needs obvious eye movement as well as some kind of pattern or rhythm that may be helpful to you in remembering (imo that is). That, or you can just have a perfect memory, which is almost impossible.

Although it seems like the biggest factor here was removing the edge for the house, and instead, giving it to the player. I've read some other articles, and they've also detailed about them winning on casinos not only based on skill, but also by negotiating with them on discounts and the like, they then start to break the bank of the casinos.

The most curios thing is that people always say: I bet with 99% chance of win and still lose once, twice or more in dice. What about to use 1% win of chance and bet this way? Less loss but chance of higher win if you increase bet on for example on every 30th bet.
~

Depending on which tournament, anything with over 2k registrants and standard blinds minutes should be around 7 hours but if you managed to hold for over 5 hours then you should be getting quite top spot with high prize money so its kinda worth it

Hello,

I was playing Yolodice today, and I was trying to figure out an strategy to have the maximum profit and lowest risk possible.

There are some things you can control in the game:

-Bet Amount
-Chance to win


I set the chance to 90% and the bet amount to 1/2 my stash. Then I started rolling. I made more than 100 rolls lol

I made a 200% profit in 5 minutes. However, I made 2 bad bets, and lost almost all. (Terrible experience)
Then I was able to recover my previous profit with the same strategy... and then made a few bad bets and lost almost all again.

I sent some more money to recover my lost profit. I am far from it now, but I was thinking about those 2 parameters we can set.

Do you think a 1/2 stash bet is too high? Maybe something like 1/4 or 1/5 is safer, but the reward is low as well. What do you think about chance? Should I keep it higher than 90, or try something lower?

There is only one way if  this will work on you, try experimenting with small amount. But casinos will not ban card counting if that isn't effective and doesn't affect or changes the possibility of winning and losing of a player. They banned it because there are actual people who are good at it and they are making tons of money so this seem to work for some who really knows how to count cards.

It seems that this question is bothering some users from time to time. If you are focused on traditional finances it's hard to be convinced that Bitcoin is independent currency that is not tied to any financial authority, central bank or similar. Some even think that whales control Bitcoin fully including determing of price. Some also believe that some individuals or organisation are standing behind Bitcoin and influence the price.
For nothing of that there is no proof so Bitcoin price is defined by market, by demand and supply ratio.

When Bitcoin crashes, what do you expect to happen to a low cap shitcoin? It will consistently crash harder than BTC. The same exact principle applies here.

Everything else equal, BTC will always crash harder than stock indices or gold, which are much more liquid markets, and which have much thicker bid sides.

It's not about fundamentals. It's not about "Bitcoin was made for this situation" or any nonsense like that. It's all about liquidity. In a liquidity crisis and flight to cash, which markets have the liquidity to absorb a big dump? That is what matters.

I think all of us gambler have this kind of situation where we could never forget because it was too painful because we lost too much money or even something special because of gambling.
But for me there isn't really a painful it is more of an embarrassing moment that was back in 2015 when I was betting on a local players on our place and I really thought that I handed my bet and when the game ended and the team won I was claiming my bet and the whole shop was looking to me with a serious face and told me that I never placed a bet.

I think that skill games are only possible when you are playing with other players. For example, games like poker or blackjack. In these games, the most skilled player really wins. One-on-one skill games with casinos still involve a bit of luck. You need to show your good skills, and the casino is enough to wait for the moment when you are not lucky.

The idea of bitcoin not being a crisis affected one comes from wall street, not pandemic.
For example, if wall street goes down because it is wall street and they did something wrong and that is the only reason, that is understandable, that could mean they could fall and nothing more, bitcoin could stay high or even go higher because it should not be affected by wall street, it is not something that affects the whole world, only the people who are there and work with them and that is it, aka 2008 crisis for example.

However this wasn't like that, this was literally a catastrophic pandemic that killed hundreds of thousands of people and affected hundreds of millions, maybe billions of people's lives, obviously bitcoin is not against that, it was normal that it went down.

Why do people think this? Bitcoin is a risk asset. In a panic-driven liquidity crisis, it crashed exactly like it was supposed to.

Maybe in a hundred years, Bitcoin will be reliable enough where it'll just dump 10-15% (like gold did) in a situation like that. But if even gold dumped in March, why would you expect Bitcoin to do the opposite?

Since we didn't pass through the wall of $12K, I am also telling my friends this.

I think that this might be just a back turn for the price to be ready for the higher goal in the next few months. The price is doing well as it hits again $11K and went down again which might just go back after some time. With the fast regain that happened, I don't think most of us sold our Bitcoin so I think most of us are still waiting for that pump to happen.

~
@OP if ever you come back again then better to lock up this thread so that there would be no more further replies on this issue if this one had truthfuly being resolved out.

I was also curious why the amount have increase and since OP is not answering anymore, I think we might not know about the real story anymore, hopefully not just a made up story to attract attention of posters here as one can easily dispose their newbie account.

actually look at his post history, he made a scam accusation with a title " Bitcasino.io Scam" (https://bitcointalk.org/index.php?topic=5128173.0) and has not responded also.

~
Do we really believe that someone would really claim that he do make a panic call decision? No one will surely tell that they are on panic when they do make such sell

but its actually obvious that there are lots who panic sell when the market tends to go down to the bottom.We can actually differentiate a crash and a regular sell-off point.

When we do trade then its mainly needed for such analysis and buying and selling decisions will depend on you.If you do saw the price is already on its peak then you can decide
neither you do sell or just hold a little bit more.Of course, mistakes and regrets will be always part of it.
~

But there is no certain reasons for Bitcoin to crash now as you are saying,maybe we can see the dump proportionally or less but its not going to crash hard since we already witnessed the fastest recovery of crypto market when the whole economy of the world crashed during pandemic.