I just read about the game and had not considered the affect of a whale. Even if there would somehow be multiple whales bidding against each other, it'll always be a losing game for the small guys who inevitably become part of things like this.
It is literally a money grab run by those who have cheaply acquired crypto from the early days and it will just make the small people lose money.

I was dumb enough to not figure this out and to never have heard of this earlier. While that game theory thing sounds intriguing, it is a big waste to even think about working on such a game.

This could maybe work if you limited the game to rounds and stratify the levels upto which people from around the globe can invest. And maybe divide the winning. Geez!!! To think of it, i basically described a PoS system here.. Tells you that a PoS system is pretty much an unfair game..

That BR means it is just the bankroll amount. That is the money the site has which investors have invested to support the betting operation for site. On this investment, the profit made by investors since the beginning is 1278 BTC.
That is not the investment needed. That would be humungous. Though what i don't get is then why wouldn't more and more people be doing that? Like Ultra mentioned in comment above,a 50% return in a year is huge. (though not in 2016 surely  ).

Thanks for sharing this. I like and agree to the perspective that you cannot stop people from attempting to go their own way and try to get a shot at glory with their own projects and that the problems arise when lot of these people try to paint bitcoin's future by taking analogies from other technologies.

To entice newbies as well as the marketing types, it is very easy to say things like "Bitcoin is like Vacuum tubes used in old radio system. The muliti-chain, multi-token, Federated voting, Distributed PoS bullshit we are working on is the Insulated Gate Bipolar Transistor you need.". The understanding that bitcoin is technologically the best at what it does and that it is impossible and fraudulent to replicate/ replace the network effect comes too late or never does.

We do need a bit of exposition on this idea that bitcoin is in itself the technology that will evolve. Bitcoin is not Yahoomail that will be taken over by Gmail. It is not DEC that will lose the computer business to IBM. For an analogy, Bitcoin is more like internet itself for which Yahoo and Gmail are the same thing. Its like semiconductor manufacturing for which Vacuum thyristor and IGBT are the same thing.

This has come out of an effort to make sure that those of us know how ridiculous these claims are, should call out scammers like CSW instead of ignoring him like @Doomad proposed in the thread i refer below. Greg Maxwell expressed his views regarding how this bullshit cannot be left unquestioned.

It is for the benefit of bitcoin and everything else crypto related that nullius has started topics for better countering the negative perceptions on the forum that we have left to linger on their own for long enough. We must actively discourage scams by spreading the word about them, especially the complicated ones like Craig Wright has managed to pull off on the whole community. Its dangerously ridiculous that this shameless scammer is actually being treated as an expert of sorts by a lot of gullible people.

ये थ्रेड हिंदी में है। लोग अगर अपनी बात हिंदी में रखेंगे तो और अच्छा रहेगा। इसका फायदा आज नहीं लेकिन आगे चल कर ज़रूर होगा जब  हर भाषा बोलने वाले इस फोरम पर आकर बिटकॉइन के बारे में सही तथ्य ढूंढ़ने की कोशिश करेंगे। अगर आप अपनी सोची समझी  करेंगे तो मेरिट देने में हमें ख़ुशी होगी।

This is one of the first Hindi translations that i intend to make of pro-Bitcoin topics. The motive is to elaborate on thoughts related to Bitcoin's social and economic impact, importance of privacy and importance of recognizing scams.
In the world of code-clones and impostors, it is necessary that we have an understanding about the power that bitcoin and its underlying ideas gives to everyone. It is important that we contribute positively while trying to learn continuously.

Bitcoin is still in limbo in India due to the RBI ban. When this gets clarified, translations like these and others can serve as sources of information for everyone. Most Indians at present on the forum are the tech-savvy ones who prefer English for technical discussions. Yet, a time may come in the near future when such efforts would be worth our while.

With that hope, we soldier on.

Umm. I don't think it is so simple pulling off a "gold smuggle on the boats" if a country decides to implement such a rule again. With a bit of advanced planning and utilizing the full force of the state, a nation can easily stop any such outward flows. The kind of people who would be willing to take such a risk will be a miniuscle percentage comprised of the biggest fish. (Pre-emptively, a govt would go after them first)

Saying that the govt cannot pull off such a stunt again with a physical asset like gold is grave underestimation of the reach of state.

Physical confiscation of bitcoin would be harder for the state to pull off. Yet, the threat that nullius keeps repeating is that bitcoin is in fact, the easiest to follow.
Careless KYC's on exchanges and all sort of places will result in linking every one of ones transaction back to us. Maybe not so for the true cypherpunks but the late-comer wannabes like me would be caught dead to rights. All the more important that every bitcoiner learns to delink those ubiquitous transactions from their privately held stashes. And listen closely to what the true cypherpunks have to say.

Really relieved to know that..LOL..Seriously though, it is always good to have a bit of love going around and its awesome that you are following the better examples on the forum. And we know you are a lit gambler. Thanks for those detailed answers.

Nice innovative idea. Kudos.

Payment received. Thanks to LuckyDice, efialtis and tyKiwanuka. I wish LuckyDice all the best and hope they expand the betting options and games.

I think if you look at what kind of money worked, you wouldn't find any options to choose from. It is barter, precious metal, currency and then Digital representation of currency in the form of online bank accounts with numbers whizzing around on the internet. (Is that why they call it a 'wire' transfer?).
What worked or didn't work should be chosen from the type of governments and the size of those governments. Historically the most prosperous empires were created with a central authority that set rules but did not directly own or control assets and the citizens themselves.
For example, consider the village economy that a country like India thrived on before the conquerors came in with their central authority of emperors and queens. India was a land of artisans villages and traders who carried this trade to places as far off as the middle east and South-east Asia.

Trade happened in kind in the form of exchange of spices, silk and gold. The choicest of textiles were produced hand-woven by artisans in their self-sufficient villages. Minimal govt control on the lives of people, self-sufficient production centres and trading posts enabled this.

Those of us who have ever touched an exchange are the easiest to track. What happened with gold can easily happen with Bitcoin. So what one should ensure is to have a part of your BTC earnings going regularly into an untraceable, unknown wallet.
Although someone with better experience can explain this, the steps towards doing this would be:
1.) Transfer all your exchange amounts to a common address.
2.) Go to Chipmixer or some other mixer's TOR network. (Although, the blinded mixers that Nullius mentioned here would be preferable for complete delinking)
3.) Get your chips onto an air-gapped laptop and transfer to a paper wallet

It is true that we all leave all sort of identifying information over our official and personal use of internet. So much so that it is nearly impossible to completely delink your online identity with your real one. Here is how Jameson Lopp pulled it off. I also had a link where Lopp actually described on his twitter feed about how to do this but can't find it now.

The last time you said you'd be updating the bets on the first page. You have been out for a long while so you may have forgotten what you said. It also seems like you did not post any more bets since the one in the morning.
Are you placing the remaining bets through PM? I am pretty new to this sports betting thing and seeing someone make regular profits and share that data couldn't be more surprising. I understand that everyone takes their own risk when they listen to these "tips" but is this all legit??

So i read about this a bit and its a crazy amalgamation of human greed and game theory. The basis of the game is in what they call behavioral game theory which is called as the "War of attrition" and apparently, teach at HBS. Crazy suckers.
For those who don't know, the game makes you buy a key by investing ETH and starts a timer. If nobody else buys a key till timer expires, you get the jackpot. The catch is that everytime someone buys a key, the amount you spent gets added to the jackpot.
This is when your mind says, "Okay, let me buy back what i invested by buying the key again and bid high enough that somebody else won't dare". Once enough FOMO sets in (with multiple people over the internet trying to "buy" the key as well as "buy back" what they have already invested, it becomes a crazy interaction of
 thousands of emotive humans trying to outbid one another.

Sounds crazy but someone eventually won over 10K ETH out of it. Here is the nice hackernoon article if you want to read more.

This one is pretty much in the bag with Indian batsmen having stepped on the gas a bit for the last 5-6 overs. They are cruising at a comfortable 89 for no loss after 21 overs. Need just 84 runs now at less than 3 rpo. The senior Pakistan team routinely gets booted out at the hands of India in world cups. No surprise that the young padawans are also making a habit out of it..

Hey everyone. I am just starting to frequent the Gambling section for reasons too obvious to be stated. So while i am here, i may as well attempt to know the ins and outs of this thing by some wagering. The toss is already over so I am late for this one. I would just like to know what exactly is this mutual betting pool about and how do i stay on time for the next ones.

Any guidance and tips to the gambling sub would be appreciated..

The idea of private property and Govt tyranny never really evolved in Asian countries that got independence in the 40s-50s. The government was always seen as a benevolent overlord and it is an accepted fact of life that anything with a stamp of "Government" on it means they have overpowering authority over your activities, ethics and morality notwithstanding. This has also evolved because Govt is seen as doling out perks for the betterment of a population which has no access to resources for its subsistence. The over-population and non-equitable wealth distribution are factors leading to such a role.

The distinctive meekness of developing countries is very evident from the different ways that cops will treat citizens in a country like India compared to a developed country. The average beat constable or Station Incharge is the big bully whose trademark behavior is of subservience to those with political connections while browbeating the normal citizens. The nexus of local politicians and the long arm of law is a fact of life in such countries. People don't dare question matters of criminal/ civil law, let alone financial independence or a right to privacy.

With the banking ban on the use of cryptocurrency, it has been a trying time to take a stand on this. It is very easy for the govt authorities to point you out for a criminal offence if and when they pass a legislation that seeks to outlaw crytpocurrency. It isn't really so easy for this subservience mentality to change and see the Govt for what it is. A controlling authority complicit in the efforts to make ordinary citizens the most efficient and complying versions of themselves.

Sim-swapping tech or whatever they are calling it does happen outside USA..Also, it is sim-cloning because the hacker's sim imitates the original sim which basically goes offline. By the time people realize that its not just a network issue, they may have had their emails compromised and passwords changed.
In my country, there have been several of these sim frauds with people losing money from their bank accounts. The SIM card is linked with everything from the UID to bank account to the Tax identity of a person. Having one of these compromised is a nightmare scenario that I fear none of us are well prepared for.

I mean what really you can do if your network goes offline in the dead of the night? Are there really any mitigation strategies for this?

Dude..This is not that "wink-wink" cute i am talking about. He does have this childish twinkle in the eye vibe about him. He gets out there to bat, whacks the ball around the park and goes back smiling, always happy having finished the day's work.

Sharmaji ka launda is the cutest player to watch in the Indian team with his effortless smile and equally effortless sixes. Yet, His journey has also been filled with such last-minute screw ups. He has always been a T20 star and his T20 performances were the reason that he found himself playing ODIs for India, and excelled at them too. Now just when he was cementing himself as a test player, comes another ill-timed injury.

Yet, Sharmaji still manages to smile through it and look like the typical friendly bhaiya who would come and hit a few sixes in our gully-cricket matches and just walk off with elan.

If we are talking about options for fantasy sports betting, is e-sports betting a thing too? Are there any options that allow you to bet on the teams playing DoTA league championships or the League of Legends championships. It will be quite a niche of people who would bet with bitcoin on e-sports. You would have to be a gamer who is into MMORPGs, be interested in betting and also be a bitcoiner. Long shot by all accounts.

With every such move that the Modi govt pulls off, it just goes to show that it is playing into the hands of the pro-capitalism lobby that doesn't care about equitable welfare. Here is what i think is going to happen. They introduce slightly more graduated tax slabs and give you an option to "forego the exemptions". For the majority of people, exemptions are on their savings. In fact, tax exemption is one of the motives for a savings. In the next few iterations, they will say, "See, we have introduced the new tax slab system, the old system is now no longer applicable==>No exemptions".

The reason being that lot of economists grudge the Indian savings rate. Indians are conservative spenders who will save before spending. Compare this with developed, consumerist countries like the USA where borrowing and spending is encouraged at all costs while keeping the manpower tied to mortgages and loans. This is just a stepping stone to removing exemptions and thus removing the motivation to save for tax rebates. This will also be shoved down the middle classes throats in the name of economic restructuring/ reform.