Anyone can post a sticker on their business window, saying "Bitcoin accepted here" ....but the question is : Is there anyone actually paying for those goods and services with bitcoins? I have seen several instances where businesses "tested" the market for "Bitcoin" as a currency ...and it failed, due to a lack of transactions being done with bitcoins. People do not want to spend their bitcoins, they want to hoard it, until they can make a huge profit.
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Managing a casino is one huge balancing act.... you have to make sure that you are building a huge enough bankroll ..so that you can pay out all the winnings, but at the same time you have expenses to pay for the operating of the casino and you have to make a profit. Luckily for them, they can manage the RTP of the Slots that they offer and also how much they spend on advertising and also how many people need to be employed to operate the casino. (They simply reduce the support .... adjust the RTP and lower the budget on advertising to increase their profits)
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Slots are designed to constantly "reward" you with small wins.... but if you look at the larger picture, you will notice that the graph are showing that the casino are gradually sucking all your funds in the long run. The small wins are insignificant, when you compare it to the constant losses.... so it is very much like the theory of the slow boiled frog. (if you put a frog in a pot filled with pleasantly tepid water and gradually heat it, the frog will remain in the water until it boils to death.) That is why people are saying..... If you continue playing, the house always wins.
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The thing is... You can introduce someone to Bitcoin and you can even inspire them to accept it as a payment option in their shop or business, but if there are not people using it as a currency.... those businesses will stop accepting it as a payment option. Bitcoin's volatility encourage people to rather use Bitcoin as a Commodity or an investment ...so people are hesitant to use it as a "Currency" ...because they anticipate huge profits on the horizon.
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Well, I think some people are also withdrawing their coins from lesser known Exchanges and moving them to bigger well known exchanges..... something that Binance anticipated. I mean.... you do not throw your competition (FTX) under the bus, by withdrawing your promise to support them... if you do not plan to receive some benefit from that in the future... do you? Exchanges has been a talking point for years.... and we saw in Japan how competitive they can be.... even using fake trading volumes to boost their image.
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I believe in "fairness" ....and this is extended towards the player and the casino. When a player find an exploit and he or she misuse that to win all the time.... casinos and other players lose the opportunity to make profit. A casino cannot keep their doors open when they are not making a profit, so when they close their door... everyone lose. I found an exploit in a Slot called "Mount Magmas" and I reported it. It got shut down and the exploit were removed and the game were re-introduced. (I got nothing for my efforts, but I made sure that everyone got a fair opportunity to win at that game)
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I think this casino is a typical example of those casinos that are developed specifically to create a use case for Alt coins. This casino offers Ethereum, BSC, EOS, Solana and WAX and not Bitcoin (BTC) ....so their agenda behind this is clear. (Push specific Alt coins and do not support their biggest competition) I think this is not what a new startup casino should do, because they are ignoring the token that are used the most and that will ultimately be their downfall. I see what you are doing, but I am not going to promote or support you.. if you ignore Bitcoin.
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This would be good news if people generally use Bitcoin as a currency and not as an investment - and when we add to that payment via LN, which is still a big unknown for most, I am not too optimistic when it comes to the success of such projects. Some estimates say that SA has between 10% and 13% of investors in cryptocurrencies, which would amount to 6 million people who could be interested in this kind of service. Of course, these are only estimates that should be taken with a grain of salt. South Africa was placed 30th globally for bitcoin adoption according to xxx 2022 Global Crypto Adoption Index, which was released in September. According to various estimates, between 10 and 13 percent of South Africans are crypto investors. Agreed, however, bitcoin's price volatility and the whole cryptospace market's price volatility against fiat is making this very difficult. I created a thread asking everyone if they wanted bitcoin to be stable in price, there were many replies that appear to have said they did not want it because they would not earn in their investment. Also, if bitcoin's price was always stable, would people really hold and use it? I reckon bitcoin's biggest appeal is as a speculative investment. This is one of the reasons why Bitcoin is struggling as a "Currency" .....because it is just too attractive as a "Commodity" and most countries define it as a "Commodity" and not as a "Currency" Also, with the recent price drop of Bitcoin, people will rather hoard their coins, until it recover... and then spend it when it is worth more in the Fiat value. So I think the timing for this "test" run is not good.... and they might once again ....see very little people using it to buy at Pick n Pay!
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This will not be a good thing for the Bitcoin community, when a Free speech platform get into the hands of someone that wants to control "free speech" to gain profit. Yes, Theymos might profit from advertisements ...but I believe most of the money goes into the operating expenses of this forum. The forum will also receive too much "negative" attention, if a high profile business tycoon like Elon Musk shows interest in this forum. Let's keep this simple ... "Talk about Bitcoin and related topics" and leave the rich people to play with rockets and electric cars.
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A 50% pay cut will sink 99% of salary workers, because most people live above their income at the moment.... they are basically neck deep into debt. If you want to destroy the global economy, then that will be the best method to do it.
A pay cut sounds like the better option, but it will do more harm than good. Any economy needs consumers to spend money on goods and service..and if you take 50% of their salaries, you will destroy most of the retailers out there.
A better option will be to "audit" executive managers and CEO salaries and start cutting their salaries, because most of their salaries are inflated.... and then start offering early retirement package for older people with higher salaries. (Some older people get much higher salaries, than people that are doing the job as their younger co-workers.... get rid of them ....and you will get the 50% cut in salaries, if you employ younger workers for 50% of the older employees salary)
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I think Cristiano Ronaldo are gambling with his reputation by getting involved with Binance and also with NFTs. Yes, NFTs might be the trend at the moment, but I see them going the ICO route and it is a road that is going towards a dead end. Also, the relationship between Binance and FTX .....and what happened recently, should signal red flags with anyone that wants to partner with Binance. (They basically threw FTX under the bus....)
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Is this an extreme example of FUD being fabricated to discredit Crypto currencies and Crypto casinos? ==> https://ftxcollapse.org/breaking-news-sbf-lost-over-100m-gambling-at-online-casinos/ - "All the deposits were made to such casinos as Stake, LTC Casino, and Bitcasino." I mean..... why do you register a domain specifically to focus on the FTX Collapse? ftxcollapse.org ....is this a butthurt person that lost money on the exchange or is this opportunistic enemies that are actively attacking the competition?
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I do not really see the need for android Applications for mobile phones, when third party developers port games for mobile phones. I have been playing the mobile versions of many Slots and it runs without problems. Why should they now add something that brings extra opportunities for hackers to exploit these applications? Also, resources will also now have to be made available to third party developers to provide support for these applications.
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You know that Lions eat Chickens ...right? Well, this is exactly what is happening now, because the Chickens are being eaten by the strong hands ...and they are getting cheaper bitcoins for their reward. A lot of trigger happy speculators has entered the Crypto currency scene and they will panic at the slightest sign of trouble. They are used to the stability of Forex markets and when they see a 30% drop in the price of Crypto currencies.... they run for the hills.
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If I am honest.... I would rather want to see Kamala Harris having an opportunity to be President of the United States. She is level headed and she comes from humble beginnings and she went through the ranks. You cannot have a trigger happy celebrity as a President or one that cannot remember what he had for breakfast. I cannot believe that the voters are even voting for these two idiots. Put Kamala Harris on there and I will bet on it with all the money I have... because I think she will be a good President.
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I think in most cases it boils down to greed and poor management decisions. Let's look at Mt Gox as an example... When Jed McCaleb handed over Mt Gox to Mark Karpelès.... he was under the impression that Mark Karpelès was capable to run it. Mark Karpelès had no business sense, he was simply a PHP developer and a small time entrepreneur. Sam Bankman-Fried has a degree in physics and a minor in mathematics... but to his credit, he made his wealth with Cryptocurrency arbitrage, so he gained some knowledge on Crypto Exchanges.
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It all depends on what type of Bitcoin ATM we are talking about... right. "The two types of Bitcoin ATMs or BTMs are: Unidirectional Machines: One-way transactions machines that support either the buying or selling of cryptocurrency. Bi-directional Machines: Two-way machines that support both the buying and selling of cryptocurrency." - Source : https://cointelegraph.com/bitcoin-for-beginners/bitcoin-atms-a-beginners-guide-to-bitcoin-teller-machinesIn theory.... a Bi-directional Machine might contain cash that was deposited for Bitcoin in return... and they might be after the cash... and not after the bitcoins.
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Hi Stunna It happened that i discovered it was possible to copy bet from other gamblers on stake, i tried this a couple of times, that is copy bet from other gamblers, and on the first day, i copied a multi bet of 4 and actually won, how lucky . I returned the next day to stake and did same thing but this time, i lost ...how sad but i guess it is what it is. So after my experience with this feature, I made this POST about it, And from the comments I got, I discovered that this is a feature that can actually be upgraded and turned into another source of income for the casino as well as some of the players. After analyzing the whole thing, i decided the make this POST as a suggestion to the casinos around. I love Stake and maybe you guys can look into my idea and see how feasible such a feature is to implement, i am waiting to be the first to use it Please pass this to the upper chamber if ok by you, or just ignore, all cool. thanks. I do not see why it is necessary to implement a "paid" service for this, because it is free on Stake.com ...you simply open the high roller tab or all bets... find a bet that you like and click on it.... then add it to your own bet slip. I use this option when I am too lazy to pick my own bets... but it is risky. I think there are a lot of multi bets on there... that are simply created to milk people. The pro's know people "copy&paste" their bets, so they simply pick a lot of losing multi bets (the opposite of what they want to bet) and then their odds increase. (Just look in detail on what is combined in these multi bets.... impossible odds)
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