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1781  Economy / Gambling / Re: [dicenow.com] btc/ltc casino - 10,000 rolls per click - play/invest - multi edge on: June 10, 2014, 07:32:46 AM
he must be the one who invested into the LTC house lol Cool

The site has been up for 8months which doesn't mean it will not shut down but it is safer than a 1month old website; apparently investors in the bitcoins roll have made a nice return so far; I still find it weird that there are 3 different casino edge
It is designed to be a system of handling multiple edged games (not only dice... but the remaining such as roulette in planned). Since some people would rather invest with more return, 3 % pool will suit them. While on the gambler side, since they wanna bet big and 1% pool might not have enough fund for them to bet against, 2% and 3% pool will be extra reserve for whales.

hope this explains well enough

Most the money is invested in the 1% pool so you can't bet more on the 2% or 3% pool than on the 1%'s

Some players may make the mistake to play the 2 or 3% dice games but I still don't see any benefit in that for them
True, that is where the hypothetical assumption of the creator doesnt meet the expected outcome of us human beings
I had saw once are twice thou (lon gtim eago) people switched the pools since they have to martingale up

If they need to bet more they will stay in the pool that offer the biggest maximum bet thus the 1% pool
false it is cumilative. if you bet in 1% pool, only 1% pool's fund will be used. 2% pool =>1% and 2% pool's fund ....

Oh ok so you can bet more if you bet into the 3% pool but with worse odds, interesting
1782  Economy / Games and rounds / Re: ★★ LuckyBit May 8th CRAZY HOUR ★ 9pm->10pm ★ Win a 1 BTC bonus! ★★ on: June 10, 2014, 07:31:50 AM
Gosh is gonna be a while till the next game i heard, there is a speical prize for the 250,000 bet, thats a long way to go.  oh well

Last crazy hour was great, it probably brings a few new players and gain the loyalty of existing players
1783  Economy / Economics / Re: Solution to poverty - Socialism or Capitalism? on: June 10, 2014, 07:29:53 AM
The best solution is Economic freedom and a system that encourages innovation and entrepreunariat and that is best achieve with a Free Market
After some point in the near future, the terms "innovation" and "free market" will be mutually exclusive!  Wink Grin

The problem is we don't see that many free markets and the problems that come from the State intervention are often seen as market problems such as in the Education, banking system or Health Care system in the States where the State intervenes way too much
1784  Bitcoin / Mining speculation / Re: 6BTC investment into mining, worth it ? on: June 10, 2014, 07:28:25 AM
If you start mining now, it doesn't end at 6 BTC. 

You'll end up re-investing more BTC into more miners just to keep up with the difficulty jumps and electrical costs just to maintain or increase your initial daily payouts.

Mining for ROI is probably the hardest thing to do at this point, without significant financial investment, cheap electric and/or hosting facility.

It all ends up to what you said : you have to be a professional miner or to do it for fun
1785  Bitcoin / Bitcoin Discussion / Re: The problem with Bitcoin is on: June 10, 2014, 07:27:48 AM
The problem with Bitcoin is no matter how long I stare at this damn forum, the price never goes up to where I feel like a member of the wealthy elite.


 Angry

Patience, give it a few years
1786  Economy / Gambling discussion / Re: Does martingale really works? on: June 10, 2014, 07:26:11 AM
While I am waiting you to answer - I'd like you to, [...]

Everything you say is true, but I have little hope that you will ever convince him of that.

I see people using the "bet small until you see N the same in a row, then bet high that the streak will end" technique a lot on Just-Dice.  Usually they wait for the streak and then start Martingale betting.

What's funny is that it often works very well.

The reason for this is that Martingale *does* work very well until you hit a streak that's too long, and if you play enough times you will hit that streak.

But when you wait for a streak before you even start, it has the side effect of really reducing the number of real bets you can make per hour, which really increases the time until you reach a streak that busts you.

So the described strategy "works" in a sense, in that Martingale is a horrible strategy, and waiting for a certain condition to occur before starting each Martingale progression means you play less.

People see this, and think that the magic of waiting for a streak in the dust bets is what it working, whereas smoking a cigarette or reciting the Lord's Prayer between each bet would "work" just as well, to the extent that both would slow you down.

Yes; it is amazing to see how many players think they can change the outcome by the way they bet or when they bet

If you are going to use 100BTC to play a martingale 1BTC 2BTC ect. and you decide you will stop after 50BTC have been won you have better odds betting 100BTC @ 1.5 once

I was thinking about that yesterday looking at a player bet strange amounts in a strange order then say he played badly on the chat after he lost; you said it doesn't make sense to allow autobeting but it does because probably more than 50% of the players don't think in terms of probability but in other terms
1787  Economy / Economics / Re: Would people pour their cash into bitcoin given a stock market crash? on: June 10, 2014, 07:21:11 AM
People said I was nuts last year when I told them DJIA would hit 18K this year. It's really looking that way. I think 20K is the final tipping point.

In Gold or Bitcoin the Dow  has been going down since 2000

Wait until the fed starts raising interest rates. It is going to get ugly.

This is the problem with QE, it is creating artificial asset price increases. When QE is finished and short term rates start to increase asset prices will start to decrease at a frightening pace.

That definitely does happen, the housing crisis was a good example of that bad loans given out to people with bad credit combined with a economic circumstance led to that crisis.
Another area worth looking at is the student loans market and if their is a collapse coming in that area.

The problem started during the dotcom bubble in 2000 and the low interests rates that follow, the housing crisis was due to the interest rates raise but the rates are lower than ever now and the bad debt and bad companies have not been flushed out because the politicians want to avoid a crisis during their watch at all costs
1788  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 10, 2014, 07:18:45 AM
5k to $700 and 1k to $640 at finex  Grin Grin


I am not sure it gives us much information, what do you think?
1789  Bitcoin / Mining speculation / Re: 6BTC investment into mining, worth it ? on: June 09, 2014, 09:41:31 PM
Mining can be fun but there is of a lot of uncertainty and only the very skilled are winning atm

If you are new you will not get skilled right away so you are likely to lose (negative BTC ROI) and it will consume a lot of your free time so I would advice you not to do it if you don't have a passion for it
1790  Bitcoin / Bitcoin Discussion / Re: The problem with Bitcoin is on: June 09, 2014, 09:39:04 PM
I would give out 2 problems :

Storing Bitcoins safely has to be learned and there is no insurance of getting your money back if it is hacked

People still believe in Fiat
1791  Economy / Speculation / Re: Steadying out at $650 on: June 09, 2014, 09:37:58 PM
We're doing a staircase moment.
When people get comfortable and realize it's not going down, they think "better buy now, we might never be at this value again".
And up another level.

Yes and the sentiment is getting more positive as we go up, people get used to the new levels and are speculating on higher prices and traders follow the trend and keep buying
1792  Other / Off-topic / Re: Why have you joined Bitcoin? on: June 09, 2014, 09:36:53 PM
Partly because I am intrigued by Bitcoin as a technology, but also because of the investment potential. It has consumed a large portion of my spare time.

Intrigued by the technology yes then amazed by the potential
1793  Economy / Speculation / Re: Who wishes they had bought bitcoin when it was $540 or so? on: June 09, 2014, 09:36:20 PM
A lot of us bought @ 540$

Those who crie and wait for a new dive afraid of a new increase in price are those who sold @ 5xx$ in hope of buying back at a lower price
1794  Economy / Economics / Re: Solution to poverty - Socialism or Capitalism? on: June 09, 2014, 09:35:19 PM
The best solution is Economic freedom and a system that encourages innovation and entrepreunariat and that is best achieve with a Free Market

https://www.youtube.com/user/SchiffReport
1795  Economy / Gambling / Re: Win free Bitcoins every hour! on: June 09, 2014, 09:32:09 PM
Just to clarify, I do not ban users who use bots in the Multiply game, however people who use bots for the Free play will have their accounts deleted.

Thanks for the clarification

Can you tell us the next improvements you will make? I know you have a few in mind because you always do

Working on a few more games to add to the multiply BTC section.

Haha I knew it Grin

freebitco has been such a great success congrats

1FDuk2tQ   1.44286304 BTC   9,922   0.00000000 BTC

TOP 10 OVERALL WINNERS

ADDRESS   TOTAL WON   FREE ROLLS   MULTIPLY ROLLS
1Laa7MRa   4.80826420 BTC   799   219,885

=> wow
1796  Other / Off-topic / Re: House prices on: June 09, 2014, 09:31:40 PM
I agree about the EU part, here in out capital city an decent flat costs around 100k euros while average monthly payment is 300-1000.

Where are you living?
Slovakia...and i'm writing about starting prices of these flats.

Prices fell recently no? They are meant to go up as people get richer
1797  Bitcoin / Mining speculation / Re: I have 3 Million USD to invest into Crypto Currency - How should I do it? on: June 09, 2014, 09:30:56 PM
If i had 3 million$ and only could invest it, this is what i would do .


1. Invest $50,000 into Worldcoins (they are way undervalued at the moment) 50K could bring you 5-10M$ USD.
2. Invest $50,000 into BTC (they are going to go up to 10k$ eventually)
3. Build a mining operation for $500,000 (would bring you massive profits)


Keep 2.4million, i wouldnt need that much to invest to get good profits lol.
If i still had to invest 2.4m, i would invest it into oil.

He probably doesn't have only 3millions to invest but 3m to invest in Crypto as he said so keeping 2.4m of fiat isn't a good idea
1798  Economy / Speculation / Re: Will bitcoin ever reach $1000 dollars again? on: June 09, 2014, 09:29:42 PM
At the end of the year bitcoin will surely go and surpass the 1000 mark.. too many merchant adoption incoming.

Incoming? Are there plans for more merchants to adopt that you have heard of? DISH is big, but that's got to be cooked into the price by now, I would have to think.

If Bitcoin gets big, big merchants will accept bitcoins

When the faith in fiat money will fade Bitcoin will rise even more and the percentage of the population that is geeky is going up every year

i don't think we need to concentrate on the geeks. we need to bring bitcoin beyond the geeks. bubbles will come with mainstream adoption -- at some point, geeks won't be enough. Tongue

True but it will start with the kind of geeky
1799  Economy / Investor-based games / Re: Double your BTC in 48hours on: June 09, 2014, 09:28:23 PM
Send you coins.......

https://www.youtube.com/watch?v=-DT7bX-B1Mg

HAHA

You save Dollar and the FED is printing them like there is no tomorrow
1800  Economy / Speculation / Re: Where is the weekend rally? on: June 09, 2014, 09:27:21 PM
As someone else said: take matters in your own hands people!
Buy btc! Make it go up!  Grin

All I know is, it's not up to the bitcoiners and the forum users. At some point, we're gonna need a good deal of "new", "fresh" money from people who have never been involved with bitcoin before, if price is really going to sustainably rise.

Bitcoin traders have a lot of money on the exchanges or in bank waiting to buy; the number of users is growing steadily; and we are a huge financial crisis away to opening of everyone's eyes on the value of Bitcoin

Why not LTC? What makes you think people will use BTC and not something else........like gold.

Bitcoin is much more than Gold but Gold will rise tremendously in price and all natural ressources as well

LTC doesn't have much than Bitcoin hasn't and Bitcoin has a lot than LTC hasn't
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