When I downloaded my Torcoin Wallet yesterday the price of Torcoin was $0.66 according to coinmarketcap.com, and it's $1.22 now. Wow, just in one day!  I hope the price will rise even more in the future. At least I'm not going to sell my Torcoins right away after receiving them because I think the coin has a great potential. |
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Well, it s obvious by now 21 million s not going to be max BTC supply, probably around 1 million will be lost in the process.
I m sure each of us s got some old online of offline wallet with some dust in it which will never get accessed again.
True. Even I, although I started with bitcoin only 2 years ago, lost several wallets with dust in them. The biggest loss was a wallet with almost 700k satoshis which is not exactly a dust nowadays. Although all the other ones were with not more than 20k sats I imagine how much BTC was lost if every bitcoin user has a similar story. |
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I am just wondering if you still would gamble if you would have enough money? I mean, now as it is, do you gamble for the fun or for the profit?
According to me If I Have Enough Money then I Don't Waste My Money doing Gambling Because the Winnings in Gambling Depends Upon your Luck and I also it's a Illegal Activity So I Don't Prefer to do Gambling Even If I Have Enough Money to do this. And If I Do Gambling then I Will Do it For Fun Only and not for the Motive Of Making Money. Also I Prefer to Invest the Money I Have in My Business Or in Trading Because It's Not a Game Of Luck and it's Not Illegal Activity. I am also not interested in wasting money for this Gambling. But I will play gambling with a small amount. I like to play gambling games it is very exciting. But I am not an addicted gambler. I will play when I get free time. Now I only play with my extra money. If I have enough money then maybe my playing time will increase, but I will not use more money to play gambling. Great approach to gambling in my opinion. I disagree even with the title of this topic because it suggests in a way that you can resolve your money problems through gambling. If one has money problems should this person gamble? Definitely not! |
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That would make sense if Bitcoin price surged to a million dollars per coin
Since Bitcoin is likely to be even more deflationary than any other currency out there. What fiat currency do you know that has grown in value a few times within a year? There is no such currency since the growth of that scale would be devastating to any economy. In this manner, the whole effort may be aimed at substituting the Japanese Yen with Bitcoin in the savings of people so that greater amounts of local currency entered circulation (which would be good for inflation)
But why? In my opinion it doesn't matter how much 1 bitcoin costs. What does matter is that people take their money out of a closet and start buying it. That's what's good for the economy. I'm a biology student, not an economist, so please explain if I get something wrong. You get everything right, in general What you don't get is that to make this policy of "people taking their money out of a closet and buying Bitcoin with it" even remotely successful, literally millions of people will have to buy bitcoins, and that would produce an exponential demand with Bitcoin prices hitting astronomical figures. In other words, there are not so many bitcoins as there should be people wanting to buy them if the Japanese government were really going to implement something along these lines and hoped to achieve a noticeable result at that Thanks for the explanation. Indeed you've noticed what I can't understand so far. Even now I think that a limited number of bitcoins can't be a problem because that only would lead to the increasing of bitcoin price. Why is it bad for the economy if the price of one satoshi was $1? But I have a feeling that I can't get it because I'm not aware of some mysteries of the economyEven self-proclaimed gurus of economics here can't grasp that But the answer is pretty simple though. If we assume that fiat dies and Bitcoin takes over, the constant appreciation would be devastating to the economy. I've even created a thread where I explained everything in pesky details, and no guru or otherwise ventured to challenge that explanation. In short, the reason is that the profit margins of producers (if we calculate them in bitcoins) change non-linearly in respect to change in Bitcoin appreciation rates. In other words, they would decline faster than Bitcoin might appreciate. To add injury to insult, they may and will in fact turn negative at some level of appreciation, i.e. profits will become losses (when the proceeds stop covering expenses), and thus the producers will have to shut down their businesses altogether and fire their stuff. How can that be good? On the other hand, if Bitcoin continues to remain outside the economy, then its price will be mostly irrelevant I've read it three times, but it's really hard to grasp. What I understood is that if fiat dies it would be bad for all of us and that in that case we wouldn't be able to enjoy even an enormous price of bitcoin whatever high it was. |
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I have noticed so many players are just gambling for the sake of profits only. But majority of them loses most of the games eventually as they are not smart players.
So how should we gamble in a smart way so that we do not get more frustrations due to continuous losses?
Many of the players in gambling are dependent on luck every time they play in the games. so I think the smartest thing I saw in playing gambling is if you are winning in the games, you should stop at once then back again in another day.
Taking up a rest for awhile when you did won some amount already is the best thing to do. Because if you will not going to stop, the winning that you've got will be gone immediately. We know that no one is winning against the house in the long run, so that's the most possible that is going to happen, the house will recover your winning. In my opinion this looks like a strategy on how to win in gambling and that's a dangerous thing because it gives you hope that if you do it smart way you can make money with gambling. People who think this way become gambling addicts sooner or later. The only smart way is to gamble with full understanding that you will never earn anything with gambling, you can only have fun with it and if lose not much then it's worth it. It can be treated as a strategy, I don't see any danger when you are doing this. It's good that you will stop and enjoy the winning you've got for this day. So where do you think is the dangerous part of it. If you are smart enough that you know the winning you got can possibly get again by the house, then do this. The dangerous part of it in your previous sentence, you've said it yourself: It's good that you will stop and enjoy the winning you've got for this day. Enjoying the winnings from gambling is dangerous. If you don't want to become a gambling addict you can enjoy the process but you shouldn't enjoy the winnings especially the way you described: win some, withdraw, enjoy. Thus you'll make yourself think that gambling can bring you some money, and that's what's dangerous because only when you think gambling can bring you fun and no money you are pretty much safe with it. in fact if you are not going to play gambling for making money then you cannot enjoy gambling, there is only fun in gambling if you are going to invest your money in gambling. and certainly if you will invest your money then you will become addicted. No no Fortunately we have another option with gambling. We can play for the fun of it. Yes we enjoy the winnings but they are so small they are just numbers. If I bet 500 satoshi with 10% win chance and I win I do enjoy it and I brag in the chat showing my winning roll, but what can I buy with 5k sats? There are users who prefer gambling for fun, but the same is not possible throughout. At some point they think of making money through it. Soon they'll be depositing big amount to gamble who in the past have been using Satoshi for fun. If it fails the search for a way to regain the loss initiates. This keeps happening profiting the gambling house and the user at times. Not necessarily, and that was my point. There gamblers, and I'm among them, who always play for the fun of it only. But of course there are many others, who become gambling addicts starting playing just for fun. Hopefully I will not become one of those unfortunate people. |
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Post count: 612
Bitcoin address: 1F2pdAU5ozqadh1Qwro4cCHp47AEnrWFZJ
Tor address: TLjPnTb4BHjBakgNBR2v3FHJ2dGTD6r4NS
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Received the payment. Thank you, iwantapony, it was a great campaign! |
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I have noticed so many players are just gambling for the sake of profits only. But majority of them loses most of the games eventually as they are not smart players.
So how should we gamble in a smart way so that we do not get more frustrations due to continuous losses?
Many of the players in gambling are dependent on luck every time they play in the games. so I think the smartest thing I saw in playing gambling is if you are winning in the games, you should stop at once then back again in another day.
Taking up a rest for awhile when you did won some amount already is the best thing to do. Because if you will not going to stop, the winning that you've got will be gone immediately. We know that no one is winning against the house in the long run, so that's the most possible that is going to happen, the house will recover your winning. In my opinion this looks like a strategy on how to win in gambling and that's a dangerous thing because it gives you hope that if you do it smart way you can make money with gambling. People who think this way become gambling addicts sooner or later. The only smart way is to gamble with full understanding that you will never earn anything with gambling, you can only have fun with it and if lose not much then it's worth it. It can be treated as a strategy, I don't see any danger when you are doing this. It's good that you will stop and enjoy the winning you've got for this day. So where do you think is the dangerous part of it. If you are smart enough that you know the winning you got can possibly get again by the house, then do this. The dangerous part of it in your previous sentence, you've said it yourself: It's good that you will stop and enjoy the winning you've got for this day. Enjoying the winnings from gambling is dangerous. If you don't want to become a gambling addict you can enjoy the process but you shouldn't enjoy the winnings especially the way you described: win some, withdraw, enjoy. Thus you'll make yourself think that gambling can bring you some money, and that's what's dangerous because only when you think gambling can bring you fun and no money you are pretty much safe with it. in fact if you are not going to play gambling for making money then you cannot enjoy gambling, there is only fun in gambling if you are going to invest your money in gambling. and certainly if you will invest your money then you will become addicted. No no Fortunately we have another option with gambling. We can play for the fun of it. Yes we enjoy the winnings but they are so small they are just numbers. If I bet 500 satoshi with 10% win chance and I win I do enjoy it and I brag in the chat showing my winning roll, but what can I buy with 5k sats? |
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That would make sense if Bitcoin price surged to a million dollars per coin
Since Bitcoin is likely to be even more deflationary than any other currency out there. What fiat currency do you know that has grown in value a few times within a year? There is no such currency since the growth of that scale would be devastating to any economy. In this manner, the whole effort may be aimed at substituting the Japanese Yen with Bitcoin in the savings of people so that greater amounts of local currency entered circulation (which would be good for inflation)
But why? In my opinion it doesn't matter how much 1 bitcoin costs. What does matter is that people take their money out of a closet and start buying it. That's what's good for the economy. I'm a biology student, not an economist, so please explain if I get something wrong. You get everything right, in general What you don't get is that to make this policy of "people taking their money out of a closet and buying Bitcoin with it" even remotely successful, literally millions of people will have to buy bitcoins, and that would produce an exponential demand with Bitcoin prices hitting astronomical figures. In other words, there are not so many bitcoins as there should be people wanting to buy them if the Japanese government were really going to implement something along these lines and hoped to achieve a noticeable result at that Thanks for the explanation. Indeed you've noticed what I can't understand so far. Even now I think that a limited number of bitcoins can't be a problem because that only would lead to the increasing of bitcoin price. Why is it bad for the economy if the price of one satoshi was $1? But I have a feeling that I can't get it because I'm not aware of some mysteries of the economy. |
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Today many people rely on bitcoin, in the sense that they are now focusing on the world of cryptocurrency, leaving their jobs
Is there something like this, is there any special tips because i want to focus but not yet dare?
Do you personally know anyone who left his job because of bitcoins? I'm not sure that this is happening, I know a lot of people who is into cryptocurrencies, but none of them is leaving his job. Bitcoin is definitely a promising investment, but you need to have something to invest, and I don't see BTC as a way of actually EARNING money, do you? |
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Sin it can only be for religious fanatics. For me, this is a great opportunity to have fun and win a good amount.
More like great opportunity to lose your money and be pissed of about betting your money. I never found gambling fun at all. I doubt that most people do. Most people are just there hoping that they are going to go home with money. Tons of things can be done to have fun, maybe not earn money though. Gambling addicts are greedy. And being too greedy or too addicted to gambling will lead to you doing things that you're not supposed to like stealing money from your family just so you can gamble. This is a sin. Greed leads to committing sins. I disagree with you. I know a lot of people, me included, who don't see gambling as a source of income but who enjoy the fun it brings. But you are right on the part that being greedy is a bad thing. But again gambling not necessarily leads to being greedy. |
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Another non-conventional way of doing this would be to buy a physical safe with a timelock and put a paper wallet in there and just set the timelock for the maximum amount of time. I've found one on Amazon that had a maximum locking time of one week, but there might be others that you could set for longer amounts of time. They're somewhat expensive though. https://www.amazon.com/Time-Lock-Safe/dp/B00NFIDTMKThis safe is expensive but even if one can afford it I don't think it is the answer. Imagine what would happen when one week was over and the gambler "finally" had access to his funds. Most likely he would gamble away everything immediately. I think it would better for OP to transfer all his BTC to a wallet belonging to a person he trusts, wife, mother, father or another close relative. Then he would have to lock it again and like I said, there might be safes that have a longer locking time than 1 week. Also, you could use the safe for other stuff as well, so it's not like it's money wasted if you bought it. I mean, it's the same for every solution, you still need to control yourself when you can access your funds again, whether it's a week, a month or a year. Yes, there are safes that have a longer locking time, like from the link below which can be locked from 1 minute to 999 days: https://www.captureddiscipline.com/product/standard-time-lock-captureddiscipline-safe/but this changes nothing. Like you said yourself, you still need to control yourself, and OP is saying that he can't. That's why I think one of the best solutions for him is transfering all his BTC to one he trusts. |
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I have noticed so many players are just gambling for the sake of profits only. But majority of them loses most of the games eventually as they are not smart players.
So how should we gamble in a smart way so that we do not get more frustrations due to continuous losses?
Many of the players in gambling are dependent on luck every time they play in the games. so I think the smartest thing I saw in playing gambling is if you are winning in the games, you should stop at once then back again in another day.
Taking up a rest for awhile when you did won some amount already is the best thing to do. Because if you will not going to stop, the winning that you've got will be gone immediately. We know that no one is winning against the house in the long run, so that's the most possible that is going to happen, the house will recover your winning. In my opinion this looks like a strategy on how to win in gambling and that's a dangerous thing because it gives you hope that if you do it smart way you can make money with gambling. People who think this way become gambling addicts sooner or later. The only smart way is to gamble with full understanding that you will never earn anything with gambling, you can only have fun with it and if lose not much then it's worth it. It can be treated as a strategy, I don't see any danger when you are doing this. It's good that you will stop and enjoy the winning you've got for this day. So where do you think is the dangerous part of it. If you are smart enough that you know the winning you got can possibly get again by the house, then do this. The dangerous part of it in your previous sentence, you've said it yourself: It's good that you will stop and enjoy the winning you've got for this day. Enjoying the winnings from gambling is dangerous. If you don't want to become a gambling addict you can enjoy the process but you shouldn't enjoy the winnings especially the way you described: win some, withdraw, enjoy. Thus you'll make yourself think that gambling can bring you some money, and that's what's dangerous because only when you think gambling can bring you fun and no money you are pretty much safe with it. |
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This is just the beginning. The other countries are going to take notice of what the Japanese government did. I am sure that China and Russia are carefully studying the implications. And trust me, if China recognizes BTC, it is going to be huge It would be interesting to know what are the real reasons for the Japanese government to be so loyal toward Bitcoin. Regarding other countries, Russia is highly unlikely to follow Japan's lead, at least, not to the degree of accepting Bitcoin as a rival currency. Further, I warn people not to be too enthusiastic about governments finally "noticing" Bitcoin. It is not given that the "acceptance" that these governments may be looking and going for will make many Bitcoin users happy It is not even clear as of yet what the Japanese government is actually up to Yes, we can't know what the Japanese government is up to, but regardless, they are already doing a good thing for bitcoin. I think the rise we are witnessing nowadays is in a good measure due to the fact that the Japanese government has recently started treating bitcoin legally as a form of payment We can't say that for certain It may be a Trojan horse decision (don't know how to call such actions properly). I don't necessarily mean evil or otherwise rogue intentions but I'm still curious what has been driving them to do that. After all, accepting Bitcoin as legal tender (provided it is really so) means tougher competition for the Japanese Yen. On the other hand, the government of Japan was fighting with deflation for literally decades, so they may be wanting exactly that, i.e. inflation for the Yen? They say some inflation is healthy for the economy, they say that deflation is what should be avoided at all costs because it encourages people to not spend their money, so I think you have a point here. But if they think Bitcoin will help to save their economy and that's why they encourage using it, I think that's a good thing. Since Bitcoin is likely to be even more deflationary than any other currency out there. What fiat currency do you know that has grown in value a few times within a year? There is no such currency since the growth of that scale would be devastating to any economy. In this manner, the whole effort may be aimed at substituting the Japanese Yen with Bitcoin in the savings of people so that greater amounts of local currency entered circulation (which would be good for inflation) But why? In my opinion it doesn't matter how much 1 bitcoin costs. What does matter is that people take their money out of a closet and start buying it. That's what's good for the economy. I'm a biology student, not an economist, so please explain if I get something wrong. |
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Gambling is a thing to do when I am bored at home and when I just feel relaxed wanting to do whatever I want. So I don't really want to have any negative feelings where I second guess if the results that I pick is right or not, it's all fun. The whole gambling experience is really fun to me and I can notice why I play it every so often because I have a calmer mood when doing so. I don't usually have a calm mood setting when playing other things.
You are treating gambling right in my opinion and you will never regret doing it if you continue this way. That's one of the legit answers to OP's question and agree with you because I do the same. Yes we lose small amounts to gambling but having so much fun with it we continue to do it nevertheless. |
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Guys,
Megadice has now contacted me directly, due to the problems I experienced.
I will leave this post up for half an hour or so, just so anyone who read initial thread knows that this was legit - and that Megadice is a legit site who does care about their clients.
Doesn't happen with all sites - but Megadice has proven to be an honest player here,
logik
I don't understand what are you doing and I see no logic in your actions. Being a newbie how can you expect people would trust your words here? Megadice is a nice site and maybe an honest one but not because you said that. Looks like there's a bug with the faucet. After registering I claimed it and got the message: Your balance must be under 100 satoshis in order to use the faucet OR you have already used the faucet too many times! My balance was zero and it was the first time I was claiming. |
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Another non-conventional way of doing this would be to buy a physical safe with a timelock and put a paper wallet in there and just set the timelock for the maximum amount of time. I've found one on Amazon that had a maximum locking time of one week, but there might be others that you could set for longer amounts of time. They're somewhat expensive though. https://www.amazon.com/Time-Lock-Safe/dp/B00NFIDTMKThis safe is expensive but even if one can afford it I don't think it is the answer. Imagine what would happen when one week was over and the gambler "finally" had access to his funds. Most likely he would gamble away everything immediately. I think it would better for OP to transfer all his BTC to a wallet belonging to a person he trusts, wife, mother, father or another close relative. |
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I have noticed so many players are just gambling for the sake of profits only. But majority of them loses most of the games eventually as they are not smart players.
So how should we gamble in a smart way so that we do not get more frustrations due to continuous losses?
Many of the players in gambling are dependent on luck every time they play in the games. so I think the smartest thing I saw in playing gambling is if you are winning in the games, you should stop at once then back again in another day.
Taking up a rest for awhile when you did won some amount already is the best thing to do. Because if you will not going to stop, the winning that you've got will be gone immediately. We know that no one is winning against the house in the long run, so that's the most possible that is going to happen, the house will recover your winning. In my opinion this looks like a strategy on how to win in gambling and that's a dangerous thing because it gives you hope that if you do it smart way you can make money with gambling. People who think this way become gambling addicts sooner or later. The only smart way is to gamble with full understanding that you will never earn anything with gambling, you can only have fun with it and if lose not much then it's worth it. |
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This is just the beginning. The other countries are going to take notice of what the Japanese government did. I am sure that China and Russia are carefully studying the implications. And trust me, if China recognizes BTC, it is going to be huge It would be interesting to know what are the real reasons for the Japanese government to be so loyal toward Bitcoin. Regarding other countries, Russia is highly unlikely to follow Japan's lead, at least, not to the degree of accepting Bitcoin as a rival currency. Further, I warn people not to be too enthusiastic about governments finally "noticing" Bitcoin. It is not given that the "acceptance" that these governments may be looking and going for will make many Bitcoin users happy It is not even clear as of yet what the Japanese government is actually up to Yes, we can't know what the Japanese government is up to, but regardless, they are already doing a good thing for bitcoin. I think the rise we are witnessing nowadays is in a good measure due to the fact that the Japanese government has recently started treating bitcoin legally as a form of payment We can't say that for certain It may be a Trojan horse decision (don't know how to call such actions properly). I don't necessarily mean evil or otherwise rogue intentions but I'm still curious what has been driving them to do that. After all, accepting Bitcoin as legal tender (provided it is really so) means tougher competition for the Japanese Yen. On the other hand, the government of Japan was fighting with deflation for literally decades, so they may be wanting exactly that, i.e. inflation for the Yen? They say some inflation is healthy for the economy, they say that deflation is what should be avoided at all costs because it encourages people to not spend their money, so I think you have a point here. But if they think Bitcoin will help to save their economy and that's why they encourage using it, I think that's a good thing. |
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Although Litecoin has risen significantly in the past month it had seen better times in the past. Remember the big rise in the end of 2013. LTC hit $50 on its peak back then and was staying over $20 for several months after that. So I think it would be right to assume that it has the potential to cost more than it is now.
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