Something doesn't seem right with Rollbit. It's unfortunate that while they are slowly building up their reputation rather smoothly it seems they are doing something fishy backstage. I smell greed.

Well, first and foremost, it seems to me that gambling and trading don't really go along quite well. I've just read the news of Beaxy, a centralized exchange that just ended its operation, whose founder misused the company's funds, some of which went to gambling. There was also the infamous Sam Bankman-Fried who allegedly lost at least a hundred million of FTX's funds to gambling.

It's also worth noting how this derivative trading that they are offering is hidden. And it's primarily because it isn't licensed at all. And these two products, casino and exchange, are offered in the same platform. I doubt Curacao, notwithstanding its questionable process, would approve of it had they known it.

Yeah, they did that. It wasn't the most classy move, of course, but Binance wasn't the first crypto exchange that did that. As a matter of fact, if my memory serves me right, Binance also took that idea from another CEx. I cannot remember which crypto exchange did the same prior to Binance. But I remember reading an interview of CZ around that time attributing that giveaway idea to one of his staff.

There was also a time when KuCoin did a Lambo giveaway. Today, where have all the Lambos gone?

Bitcoin is best for the long term. There may be some who want to play with the volatility of the price, but it is risky and difficult. After all, you cannot really predict the small-term movements of the price with a high level of accuracy. That's no matter how good you are in analyzing charts and detecting patterns and whatnot. So to sell at $28,600 after buying at $23,400 is too early I guess. Well, that's already a good profit. But what's next? Will you be waiting for the price to go back somewhere at your buying price for the buy back?

These attacks aren't new as they aren't shocking. As far as the attacks on the larger crypto space is concerned, they may achieve a limited success. They may win their lawsuit against the likes of Kraken and Binance. As a result, they may effectively shut them down just like what they did to Beaxy just yesterday or they may cripple them and earn from the fines. But what have they accomplished really? Nothing.

The attack on the larger crypto space isn't necessarily an attack on Bitcoin itself, upon which the entire crypto space is supposed to be founded. Try as they may in bringing Bitcoin down in all these efforts, what they will achieve is nothing. They will only bring down centralized crypto entities which aren't really representative of what Bitcoin is trying to achieve.

Also, as far as I notice, these efforts are not even bearing fruits as far as development in the space is concerned. When they shut down Chipmixer, how many new mixers came out? If they will be successful in bringing down Binance, how many centralized exchanges will be coming out competing for what Binance has left?

It indeed rings a bell. This exchange was promoted here through a signature campaign. I even thought this was a promising exchange back then. This exchange was strongly promoted outside of this forum as well. If I'm not mistaken, they even imitated the early strategy of Binance by giving away a Lamborghini. I cannot remember exactly how things have turned awry but it was indeed accused of being a scam.

It's surprising they didn't do something with their lack of registration despite them certainly noticing how regulators are tightening their policies on crypto exchanges. It seems they're just sitting by waiting for their time.

The Bitcoin guys are normally mild trolls. This isn't really violent nor destructive. They cannot equal the bank trolls that have been wreaking havoc to people's lives for a very long time.

Imagine the banks trolling all of us by not giving us the money that we entrust them for custody. These bank trolls are enriching themselves with our money and when we make withdrawals we are even dictated on how much. And then they will also freeze us our very own money with interest. We are even fined for not keeping a certain amount in our deposits. And when there's no activity in our accounts, they would lock our own money. LOL! These banks are hardcore trolls!

Sometimes, I tempt other people to gamble. But it is very limited like betting on a certain game or betting on a cockfight. It is not like bringing them constantly to a casino or introducing a gambling app or site to them. I don't want that. I feel guilty whenever I bring someone to gamble and lost. It's probably the reason why I normally don't want to convince them otherwise if they really don't want to go.

But what I will never do is to suggest to someone who is in emotional pain or depression to combat it by gambling. I really don't think it is a good remedy. Or when somebody badly needs a certain amount of money and I recommend him/her to try bet whatever available money he/she has. I will never do this.

If Bitcoin was the only cryptocurrency, things would have been plain and simple. The discord and cacophony and confusion in the crypto market caused by hypes, scams, trading, shitcoins, pump and dump, and the like would probably be minimal. Moreover, since all crypto support is solely focused on Bitcoin, its price is certainly much higher than today. The entire crypto market would be Bitcoin's market cap. The disadvantage, however, as pointed out by ChatGPT is that innovation might be limited.

But the reality is that this isn't just between the government regulators and Binance. We shouldn't be reducing it between the two as if there isn't another option lying around. You are not actually limited to these two players only.

I know you're posing a hypothetical scenario, but the reality is different. Why shouldn't we stick to what's real? Why should we be choosing Binance when the options on the ground isn't just between government and a centralized company?


This may be true, and I kind of understand your point, but I'm afraid this is the same sentiment that will make rise to the very system Bitcoin is designed to oppose for as long as it is carrying the Bitcoin flag.

It seems like you're saying that the enemy of your enemy is your friend. But centralization is never a friend of Bitcoin. To a significant extent, we can say that Binance is not a friend even if the government is its enemy.

Better safe than sorry, I guess. The administrator might just be avoiding possible repercussions to the forum when staff themselves are promoting mixing services. If worst comes to worst, this forum might be dragged into the controversy, and god knows what will be the fate of this forum if such event happens.

But I guess the forum could easily get away with certain responsibilities if these controversial services are only promoted by ordinary members rather than the forum's staff themselves.

Well, in all fairness, this is probably the right thing to do, especially at this point in time when NFTs are apparently used for money laundering. Somebody can make millions of dollars in legitimate transactions selling pixelated images and monkey jpegs. So I guess it's just the IRS doing its job well. This may be perceived as a villain agency but it's just performing its mandate.

But what I'm particularly amazed at is how updated the IRS is on what's happening around. In my country, the Bureau of Internal Revenue is clueless and is still operating on archaic policies.

I won't assume that you won't learn anything from Bitcoin-related events, but I doubt that at this point there are still events whose objective is mainly on Bitcoin awareness. I haven't attended a single Bitcoin or crypto or blockchain event because I know there are centralized products or platforms that will be promoted.

I once checked in at a hotel where there is a crypto event. It was centered on investment and trading. Just recently, there was also a gathering of sorts in what is called the Bitcoin island here. But it was basically sponsored by a certain wallet, and it was probably for the promotion of it.

But if there is an event that is solely focused on Bitcoin education, I might be interested.

This isn't the first time that Binance faces a legal battle. Binance has been at odds with so many governments for years already. They've been declared illegal in some countries and kicked out. It was even kicked out of the US way back in 2019. So I don't think this another issue against a government body will pull the price of Bitcoin down.

Binance has been controversial and has been all over the news for many years already. Issues like this won't be too big of a deal to the market, although if this results in Binance crumbling down or of CZ arrested, which is highly unlikely, it may indeed have a massive effect.

How is profit particularly maximized if you bet using crypto?

If you bet $100 in Bitcoin and you won another hundred dollars in Bitcoin and then the price of Bitcoin increased right after, you have indeed won more than $100. But the price of Bitcoin doesn't just move in a single direction. It could also happen that you bet $100 in Bitcoin on a sports match with odds of 2.0, so you won $100 in Bitcoin but the price nosedived right after the payout. Your $100 prize in Bitcoin is already worth $70 after a couple of days.

Of course, not. The withdrawals made hours after the lawsuit was filed by CFTC were huge. They were in the hundreds of millions, but Binance is still holding tens of billions. The result of Binance's legal battles could be a lot more damaging than whatever attitude these government lawsuits against Binance cause among its users.

If found criminally liable, Binance might completely die. The cases involved aren't anymore just civil in nature. Terrorism is involved. Hamas is even mentioned. Whereas, if this attitude of fear were to spread, Binance will remain standing and could easily redeem its reputation. Binance and CZ have so many solid blind followers. In addition, many newcomers won't really mind the legal battles involving Binance.

I have noticed this, too, along with threads on how a user supposedly conducted a seminar, lecture, group discussion, and the like in an effort to spread Bitcoin knowledge. But the thread that you linked didn't receive any merit. And rightly so. But he/she could have easily taken a picture of a house and a car and claim that they're the fruits of his/her Bitcoin investment and received merit. In the same manner that I could also easily write down on a piece of manila paper a few descriptions of Bitcoin, take a photo of it along with some of my friends and receive merit for it.

I don't understand exactly what design you have in mind, but I cannot see how the link is broken. How particularly is lending, for example, able to obfuscate the source of the funds? Will there be like a third party lending service to whom we will be sending our Bitcoin and then we will be receiving the same amount from the Bitcoin of other users who are also using the platform? Will there never be trust issues with the design you have in mind?

No bank will ever survive if they will grant loans simply on the basis of school certificates. LOL! It doesn't give them any security. What if you don't pay your loan? Will they recover their losses out of your school certificate? What are they going to do with it? Can they sell it at the exact amount that you borrowed from them? Come on, man! You cannot expect this to happen.

On the part of education having no real value, if you are referring to monetary value, it may not have it. But it is wrong I believe to think that education's value is monetary, although, of course, you can earn and make money out of your university degree or whatever.

I agree, but I think your first wallet as a newbie shouldn't remain to be your wallet when you have already accumulated so much. Normally, a newbie's first Satoshis are bought for the sake of experience, or earned from faucets, for example. Security measures may not be strictly followed also. It's because a newbie is just starting to learn. But as soon as you learn the dos and don'ts, the safety and security tips, the best practices, you would also improve in the way you handle your funds.

Although there are crypto gambling platforms that are labeled as decentralized, I don't think they are truly decentralized. They may be using the blockchain technology, but they are everything but decentralized. They have known owners who run the operation. They have official headquarters. They are registered. They comply with their taxes and other responsibilities. In other words, they are like a normal company. So they can't be decentralized. After all, gambling is heavily regulated.