Looking for ideas to create a sustainable bitcoin prize system for my game. Anyone have experience with crypto games / faucet games please share some ideas if you can. What is a good prize amount to get players to compete? Right now I can do up to 300 satoshi per 5 minutes to the current "king of the ring". KOTR is the longest surviving unit in the mmo arena.
I think that instead of paying the same amount to all players - as it is in the faucets, it is better to create a competition in which one or more players wins a bigger prize. I agree buddy. I have some horrible experiences with faucets and bitcoin based reward games. Mahatma Gandhi rightly said, "There is enough for everyone's need but not for everyone's greed." I created a platform last year where users can claim satoshis via faucet as well as an additional mode by seeing ads and videos. I am not much of a tech guy so I bought scripts from various developers and tried to integrate them on my own. I was able to do that and site run well for few days but then came the bad time. I noticed hundreds of users on site at once, all claiming and viewing ads. Later on looking little deep, I found out that they were bots. They drained almost all of bitcoins available on faucet. Worst part was that network whose ads I was using also suspended my account because of bot users. So I had double loss. So whatever you create, just make sure don't give out money generously else you would be harassed too. |
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I don't think presence of other cryptocurrencies can impact the price of Bitcoin significantly. Any commodity can significantly effect the price of other commodity only if they are substitute to each other. In the absence of substitution effect, what you saying isn't possible.
Now coming to captial market: the substitution effect is not present in capital market. For example: if Gold prices increases, it doesn't mean investors will right away sell their equities and invest in Gold because both markets are independent. Same applies to crypto market too. All coins are generally existing complementary to each other and the fact that altcoins exist doesn't decrease the demand for bitcoin rather increase it since direct market is not available for most of the coins and one has to buy btc in order to invest in other coins.
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The first approach is completely unviable in case of cryptocurrencies. 9 out of 10 times I see technical analysis fail in crypto markets. Unpredictability in crypto market is too high due to lack of regulations and less number of market participants. So approach one is wrong.
Coming to second approach, you say less deviation means market is maturing i.e. adoption is increasing. I doubt it too. Market isn't deviating because investors aren't speculating at the moment. If we see real increase in volume, it is somewhat similar to what was in late 2017. Hence there is almost 0% growth in bitcoin trading volume in last 20-25 months. So stagnation in bitcoin price can't be seen as good sign.
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I had invested in TRON for quite a long time last year but my trading experience didn't go very well and I incurred some losses. However, my experience doesn't define anything about TRX.
What I think the biggest advantage of investing in TRON is its strong team and dedicated founder. Just follow Justin Sun on Twitter, that guy literally tweet every single update of his coin from his own personal account. When a coin has such a dedicated and reputed founder behind it, it is safe to say the coin won't collapse in near future. However, on personal note I also believe TRON project is overrated and hyped and doesn't have as much real developments as its community claims. On the whole we can say investing in TRX is safe and can be more beneficial than keeping money in BTC especially after the success of Bittorrent ICO.
PS: nice article btw @op
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Being a Hero Member don't you think you put this thread in entirely wrong section?
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In short, all altcoin follow BTC's chart unless there is an external effect that leads to a temporary change.
True! Crypto trading in top coins may not be as lucrative as one think it is. In all major pumps and dumps, almost all cryptocurrencies move in similar direction. So keeping money in ethereum or xrp instead of btc may not bring high anticipated returns. In order to earn bigger returns, one has to be more speculative and risk-taker i.e. investment in comparatively small cap coins. |
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Considering how the rupee has slid to 71 bucks against US dollar - the lowest in recorded history, legalizing INR vs Btc should be a matter of great urgency.
I appreciate your enthusiasm but please take a time and explain me what you want to say here? USD or any other Forex currency's price against INR fluctuates due to these two factors: (i) Market movements i.e. appreciation and depreciation in value (ii) Government (money authority) Intervention i.e. revaluation and devaluation Since India follows floating rate regime, (ii) is not used largely (almost negligible to control extreme market movements). So in India if price of any forex currency changes it is due to (i) i.e. market movements. Now let's say government approves btc v inr trading. It will lead to the creation of btc market in India. This mean price of BTC could directly be measured in INR and vice-versa. The market between two currencies can never effect the value of third currency so creation of btc-inr market will have zero impact on USD price in INR. |
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Bitcointalk Username: webtricks Profile link: https://bitcointalk.org/index.php?action=profile;u=921974Rank: Sr. Member Current post count: 1514 Bitcoin wallet address: 1WEBcakrGuoCfqm8UGe7jVwd1nBB9Aivd Depotwallet address: NCUCU7-MSC5QR-7CBLAC-LIPFDD-TMDKWB-KWHF27-DHCX Telegram username: @webtricky Wear appropriate signature: yep |
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1. Cheap cross border micro payments for micro tasks. (Global tipping services)
2. Cheaper remittance services. (People working in 1st world countries, who wants to send money home to their families)
Bitcoin is not as cheap remittance mode as we think. Whenever demand and price of Bitcoin increase, it leads to increase in volume of transactions. This is followed by huge leap in transaction fees. Back in Nov-Dec 17, BTC Fees shot up to $20-25. With such high fees Bitcoin can never contribute to these two factors provided its demand goes beyond saturating point. |
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Last day to enter the giveaway!!
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Thanks for it  |
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Personally I don't like masternodes. Considering the volatility of cryptocurrencies, I think main advantage of masternode that is Return on Investment is somewhat become irrelevant. On one side you think your money is growing while on the other side value will fall and overall effect will be nil or negligible. I haven't seen any particular masternode coin which has given spectacular returns except DASH (which also people usually keep as investment rather than node).
Another down point for Masternode is that most of the coins not share high returns with node runners. 0.5-1% ROI per week is not what crypto investors usually target. If any coin claims higher returns, it is guaranteed it will face dump sooner or later.
Considering all aspects, I think going for masternode coins is not a best investment strategy in crypto world.
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yes, we get market manipulation from the whales, and some FUDs, but that will never make BTC die.
many people are disappointed with the market today, but some are still holding on, with the hope that BTC can give a profit for them to reach more than 20K.
This is something interesting. It is general misconception that if whales start selling off their Bitcoins, price will fall drastically and ultimately it will become zero and Bitcoin will come to an end. However, it is quite impossible. Why? The reason is simple, although prices are falling, volume remains the same. One of the best characteristic of Bitcoin is that its supply cannot be reduced easily (yeah, it is possible if private key is lost but that's quite rare). So when someone selling off their Bitcoins, it doesn't mean Bitcoin is reducing and going off the market but it only leads to change in composition of Bitcoin Holders. If Mr. X has 20% of Bitcoin Supply today and he sold his Bitcoins to Mr. Y and Mr. Z equally, it means Y and Z are now the whales of future and can manipulate and revive prices in future. Bitcoin will never come to an end, that's guaranteed. |
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#Proof Of Authentication
Joining Twitter Campaign.
Twitter username: @Bitcoin_Bullet
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I constantly here people say " Only invest what you can afford to lose" Well no matter where your wealth is it could crash.
-Invest in USD- USA could collapse and experience mass inflation making your dollars nearly worthless
-Invest in Bonds- Government could collapse making your bonds worthless
-Invest in real estate- Housing prices could crash, natural disaster could hit and insurance company could go bankrupt
-Invest in metals- prices could crash, asteroid mining could collapse prices
Your money is never 100% safe no matter where it is invested.
Have you read the 'Friedman's Restatement of Quantity Theory'? In his theory, Friedman considered money as an asset. Like any other capital asset, people invest in money because it gives future benefits(temporary abodement of purchasing power) and returns(opportunity cost). So yes, if money itself is nothing more than a pure capital investment, every other commodity that could be bought with it is considered as capital asset provided that the commodity doesn't provide any utility because if it provides utility it no longer remains capital asset but turn to be consumer asset. Now coming to whether every investment is risky. In short yes, your instinct is right. The definition of investment itself states that investment is taking risk to have return on value invested. But that doesn't mean whatever you purchase gonna put your money in risk. Here government comes into picture. In other words I am talking about 'Risk-free return'. Governments in every country issue Treasury Bills which have ROI as similar to Fixed Deposits or little more. Else, if you wanna make big, you should be ready to take risk, there's no point to argue that. |
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What are your opinions?
For a long time I thought BTC stabilized at $6400, then boom!
I would like to get some views to help me decide what to do.
It has been a wild ride (to put it mildly!) It can be scary.
Thread belongs to Speculation section, please move to that section.For any marketable investment, stabilizing point is the minimum support price at which buyers in large are ready to buy it irrespective of market conditions and news. But for Bitcoin it is quite difficult to predict such support price because: 1. No matter how luring Bitcoin is as an investment, it is still unable to have a large base of core investors. 90% of the investors easily get shaken whenever price move >10-15%. 2. Due to small investor base, we are still unable to get a break-even between buyers and sellers. Hence at times of boom Bitcoin could easily go 200-300% and at times of bear Bitcoin could easily break by 50-70%. So considering above two points, it can be said that current prices are not at all stabilizing point. I won't be surprised if Bitcoin goes $10k or break to $2k on New Year eve, anything can happen! |
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