Welcome back mate! I haven't seen you being active on this board for quite sometime now. There are a very few who literally respond or create genuine topics on this board now days. Coming back to your reply. I do not think that is a FUD, the government has gone crazy and they will add GST sometime in the coming days. I also feel they will not implement such a huge percentage. I also strongly feel that we create a service within this forum wherein those who are active and have a rank above Member can help each other by selling/ buying Bitcoin for INR using an escrow service provided by some forum members. What do you think? You mean a P2P trade for forum members of Indian sub with an escrow. Sounds good. But again, just like there are very few active members on this board so the number of trades will be too slim. At least, it's better than nothing. We already have a telegram group so may be we can use that before placing trades on exchanges. If we get a P2P trade from our telegram channel then well and good, otherwise we can still proceed with exchanges in case of emergencies. What an irony. This makes me remember the good old days. My early days in crypto were just the same. We used to buy and sell bitcoin using the P2P trades back then and I guess those days are coming back. It's time to grow our network of trusted members. I already have some though. May be this will help us evading tax. I hope webtricks doesn't read this else he will start with tax evasion and stuff. Lol  . I'm kidding webby!! |
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Any of you guys placed any bets for the BTC/ ETH price prediction this time ? I found ETH price betting to be more rewarding this time since the odds are better for ETH than BTC. Below are my bets and I think I might win something this time.  |
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You can either make a bitcoin casino or a crypto casino which has most of the established coins.
But there's no point in making an ethereum casino at all. ETH fees are huge when the network is congested.
People would rather stop gambling on your casino at times like these which would directly result in a loss of revenue for you.
So the best thing to do would be to create a crypto casino but even then there are so many casinos already.
So the competition is really tough. Might as well think of something unique but a n ethereum casino is a bad choice.
I think creating or building an ETH casino is not OP's goal or purpose but rather looking for opinions if playing in Ethereum casinos is somehow convenient too like playing in the usual bitcoin casino. We really are concerned about gas fees in ETH and I think there will be no solution for it for now. Depositing ETH to an external service will likely cost a huge fee compared to usual. The only advantage of using ETH casinos, as I mentioned already, is the ability to link our own wallet like Metamask into the platform making the deposit cheaper and much safer. But I doubt gamblers really prefer that way that's why it's now up to OP if he will test the experience of gambling in an ETH Casino. Well in that case I think it's best not to try ETH casinos at first place. Firstly there's a risk that not all casinos might be genuine, some may even run away with our coins. Secondly, if we don't have a control on ourself from gambling then we might end up gambling all that we have in our wallet. So these are some strong reasons why I wouldn't use a ETH casino. It's better to deposit a small amount to gamble and then make the other deposit only when it is all gone. |
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I was suprised when I saw Bitcoin falling so fast from yesterday's price point till now. June 12th the price was holding around at 29k, i assumed it will go up or go down a little bit.
Some what similar to June 6th and then May 30th. It has been been hovering around the range of 28k to 30k for quiet some time now. Suddenly it went below 25k on a single day and that becomes a trigger for someone like me who saw Bitcoin usd value at around 3k to 4k between 2018 to 2019 in the month of April. In reality that was the golden time to grab 1 Bitcoin.
This situation isn't alarming for me but, i did some checks within the forum and found out that, this situation might have arised because of the LUNA issue or it might have been because of the global inflation situation.
What do you guys think can be the issue? Let's have a discussion here!
HINGLISH REPLY ACCEPTED
Some are saying it's because of the Celsius network breaking down while some think it's because of the global depression coming in, but truth is all of this is just a market cycle, you have to have a depression to normalise the market after an uptrend, if you see monthly charts of last year you'll see how bitcoin was trading every month on it's upper Bollinger it obviously has to see some depression days to bring the normalcy back in the market. Do not know how long this bear market willl continues but you are correct that this is a market cycle. I did expect the market to correct but not so much of correction. Bitcoin still hovering around 20k to 22k. If I remember 20k was once a new high in 2017 and 20k is now the new low in 2022. Overall the market should look good for institutional investors if they are planning to accumulate more Bitcoin. $20k was once a "too costly to buy a bitcoin" range and now it's "too cheap to buy a bitcoin" range. I consider the recent dump as a series of negative influence in 2022 because of all the negative things occurred this year. The Russia-Ukraine war was the starting point triggering the dump and then there were many things contributing to the dump. The latest dump made bitcoin fall from the $29k price to currently at $21k price which was mainly due to the high inflation the increased interest rates. But as we know, sooner or later the dust will settle and once positive sentiments hit the market bitcoin will go bullish than ever. |
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True life Story.
A friend i know recently narrated to me how his business almost collapsed due to trust he had for another of his friends who he thought he was helping by recruiting him to manage one of his Retail outlets. He narrated how having put him in charge of that point started observing a decrease in the the profit from there intended for savings and reinvestment. He confronted him severally to know what the problem was, but his friend attributed it to being ill and needing drugs, until one faithful day when he ran into him in a betting shop during working hours betting on virtual football games, how disappointing!
Questions for discussion
- Are gamblers eligible to hold financial positions?
- Do problem gamblers deserve a second chance to hold a financial position?
It actually depends on how severe are the gambling habits of that person. If he is an addict I would never trust him even when I am high AF. But if he does casual gambling may be then we can put a little trust on him and monitor the results on regular basis. But once we see that the results are not positive and if we find out that he is using the money for gambling instead then never trust him back again. He doesn't deserve a second chance. |
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Interesting strategy and that is already a nice profit! I had the same thought in the beginning when they launched to buy low and sell high to get some quick profit but as always I couldn't really time the market (nobody really can). Amounts that I play withare a lot of smaller and as my average buying price is around 60 satoshis, most of my tokens are locked for 1 year.
With that price you would have to wait several years not to sell with a loss. Do you at least take any profit from premium WOFs, do you buy additional tokens ro lower the average price? It will take me indeed some time before I am back in profit but for the moment not buying anymore tokens as I have reached the premium membership that I want (currently I have a bit over 13k FUN tokens). I am happy with the 7 WOF spins that I get daily and also the increased interest on my BTC makes it interesting. Even I had few FUN tokens which I use to trade now and then but since last few months the price was stuck at 30 satoshis. I was waiting for it to go down so that I can buy more FUN tokens but the price was idle. I just checked the price now and it has increased to 36 satoshis which is impressive since the market is currently dumping. |
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You can either make a bitcoin casino or a crypto casino which has most of the established coins. But there's no point in making an ethereum casino at all. ETH fees are huge when the network is congested. People would rather stop gambling on your casino at times like these which would directly result in a loss of revenue for you. So the best thing to do would be to create a crypto casino but even then there are so many casinos already. So the competition is really tough. Might as well think of something unique but a n ethereum casino is a bad choice. |
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snip
In the world of gambling, you should put it in your mind that you are always lost because that's reality and if you gamble because it's your happiness then it's okay, but if you gamble for the reason that you will gain more money them that's a bad idea.
If we put the mind always accept defeat then we don't care about the strategy for the chance of winning, even though they already consider losing 65% in every bet but still have to look for opportunities to win, because winning is not the goal of getting a lot of money but feeling happy because the strategy has worked. I think the pattern described is incorrect because it is also not wrong if some gamblers want money from winning, but it is important for them to avoid greed and accept loss without risking any other money. Well, even if we consider the money as lost, the winning part still gives us the adrenaline rush. In fact, we become overjoyed when we are not expecting any win and suddenly we win out of the blue. So the feeling happy part is still there. |
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Also, we can't tell if the money that police invested in crypto is from a genuine source or not.
For instance, may be he's corrupt and is buying crypto with all his black money but I do hope it's from a genuine source instead.
Very much likely. In our country, Police has been dominating the country with various aspects. Most of them are corrupted and we don't have anything to do. Well, I blame ourself for this, we don't have the ball to raise our voice against it (risk is to get jailed for no reason lol). They take bribe all the time. I myself have been a victim recently without any reason, I have done nothing but faced a lawsuit. Maybe the policeman salary in Bangladesh is not huge enough which is the reason why seek out crypto as investment.
I don't think so. They are enough paid in my opinion. Its most likely black money as Police is one of the biggest terrorist in Bangladesh. I am from your neighboring country India, so I can understand how it feels because things are quite similar here too. It's easy for a police man who understands crypto well to take the black money in crypto. But the funny part is that the police man was holding LUNC rather than established coins. LOL. Black money going down the drain if he holds for a long term. |
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It's funny to see a police officer who was supposed to working as per the law, has recently been detected as a cryptocurrency investor. Well, I'm happy to see that personally to be honest. Last month, the ASP has posted on twitter that he was holding 130 million LUNC which was around ~$70k at that moment. We all know what happened to Luna. He has invested in LUNC after the LUNA crash. Though I'm personally happy to see that, but it shows how people in Bangladesh are breaking the laws. A lot of people are active in cryptocurrency trading despite govt discouraging it many times. It's sad they have picked shitcoin instead of bitcoin.  You don't have to be surprised because he's holding cryptocurrency. There would be many government employees who invest in crypto despite the strict laws. Also, we can't tell if the money that police invested in crypto is from a genuine source or not. For instance, may be he's corrupt and is buying crypto with all his black money but I do hope it's from a genuine source instead. |
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I don't know what is my mantra as long as I play in gambling for my happiness then it's okay even if I won or I will failed because in the world of gambling in every single play there's a 50:50 chance of winning and losing so you can not say that this is my day I will win in every bet and we must remember that if we win in the first draw in the second and upcoming draw we can not predict that we can win too.
precisely. I have the same thought as you. and one important point in gambling is that we should not expect to make gambling as a source of income. because it won't work. Gambling can only be used as refreshing and entertainment in the midst of a hectic life. So as a gambler, you must be ready to accept between losing and winning because this is a matter of 50:50 chance. and about luck. like you said that we could win today but we don't know tomorrow and so on. To be honest, it's not even a 50-50 chance because of the house edge is on the casino's side. So lets say there's a 45% chance for you to win while 65% of times you would eventually lose. It's better to consider your money as lost when you start gambling because after that we can gamble with free mind. That's where the actual fun of gambling is. |
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Even though I do understand what you are getting at, Investors and traders alike have their different reasons for how they keep their cryptocurrency assets, whether in the CEX or in personal wallets. That said, the same way you think of it, people could have sold at $60k and bought back around $30k, but we have noticed that the market dropped way below that to around $17k+ actually, and if you have bought around $30k and still seeing the market continue to drop wouldn't you have panic sold again? Thinking you could have sold around $60k, most people didn't believe that the market was going to go full Bear mode from there, in fact, people were still saying it would reverse to $100k but that didn't happen.
You are actually right because I could have done the same thing yet I didn't do it because even I didn't expect the market to go full bear mode. In fact, now I remember making a prediction when the market dipped below $40k and recovered to $47k that the market will keep rising from here. But eventually it dumped harder and here we are now. Expect the unexpected because that's what crypto is. |
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Gambling is not meant for winning. Its meant for the dopamine/adrenaline rush.
Unfortunately a lot of people fall for the big shiny prizes and gamble their lifes savings away in minutes. Others become emotionally compromised and keep betting and betting, determined to win back their losses.
But mathematics, more accurately, statistical mathematics is not on the side of the gamblers. They are on the side of the casinos. Why? Because the games have been designed that way, so that the probability of making money weighs heavier on the casino's side of the scales.
Don't feel bad if you lose, but keep yourself under control.
That's exactly what it is. The games are designed in such a way that most of the bets are in the favor of the casino. Most of the gamblers lose money in it and there are only a few who win. Even then casino still ends the day with hefty profits. Having self control is the only way by which we can enjoy gambling and let it not overtake us. |
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~
That hit me hard. It's the same people like us who "bought back" at right times multiple times and are now the whales.
I never sold my bitcoins. I only sold some of them when I had the necessity but otherwise I kept HODLing on to the rest.
If only I had sold and bought back then I could have accumulated more coins. But then I am happy to not lose those coins by not buying back.
I still have a chance to buy more right now while it's low and keep accumulating. May be I may sell later at peak and buy more later again.
Beware that you have to find a good balance between selling, buying, buying back and HODLing. After all using exchanges is always risky, trading is an extra risk on top of it. I personally dedicate a small portion of my bitcoins to trading which is why when Bittrex scammed me and stole my coins I wasn't devastated, that was simply because I was trading with a small amount that I could afford to lose. If you get over that, trading could give you some good profit. For example I sold a small amount above $30k and bought back above $20k and I'm happy with the profit I earned regardless of what the price currently is. So that basically means you have a little portion of your portfolio on an exchange for active trading while the rest is in a wallet. So a major portion of your portfolio is still untouched which again means your portfolio must be down by 70% too. Does that make you feel stressed or haven't you wished that you could have sold all of it above $60k and bought back around $30k. |
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If only these so called mantras would work then every person on this planet would be a magician.
These are just coincidences which happen at times. We may think that the mantra worked for us but sooner or later it proves to be wrong.
We lose money and keep losing money trying to repeat the mantra over and over again.
I dont see any problem if you have mantra everytime you gamble. Its an old belief that some of us had not only about gambling. Sometimes if we are applying for work or want to pass the exam, its like a lucky charm. Anyway, it cant really influence if you'll going to hit a jackpot or not but there's no pain in trying. As long as you know the consequences if you gamble your money and not relying in mantra alone (because gambling is more on luck) then its fine to believe it. I don't think it's just a mantra but lucky charms that people like @lienfaye already said because I've seen people carry lucky charms everywhere. The existence of auspicious spells or charms is always present in every country and it doesn't look like it will be easily lost for some time to come. So the trust issue has been around for a long time and there are still people who believe in it and continue to use it. So that basically means that those people are relying on those lucky charms for them to win. Or may be if not relying on them then they are believing that the lucky charm will give them positive results. Both of these things are a myth in my perspective. Although I respect others beliefs but for me, I wouldn't buy a lucky charm just to win at something. |
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Seems to be a lucky day for me. Had some 33 WoF spins and spinned it all. Voila, got some nice 1500 RP which was most needed.
Need to collect these RP while the returns are high. Still half way left for the 100k RP.
]https://i.ibb.co/H452vb0/60419424.png
Well, considering that you made 33 spins, what isn't small number, I think that your winnings isn't something special. I'm lazy to count, but I think you mostly got 50 Sat worth prizes, not even 500. I don't really like that when Bitcoin goes up, WoF rewards goes down to. But when Bitcoin hits it's lowest level in recent year, rewards can't exceed 50 Satoshi. You should not "expect" big wins, there is no point in that, you should just gamble with 50 sat and 50 reward points in mind for all of your bets, if something outside of that happens then it is great but that should be the exception, generally you should get the most common rewards instead. I am not expecting a rolex just because I do hundreds of spins every month, I mean even if I reach to thousands eventually which I will if we calculate the totals, then it is still a thing that I am not expecting it to happen. I can wager 1 million times, and I will expect 1 million rewards of 50 sat/rp, not a rolex. Hence this isn't exceptional, but expected result. No one should expect a Rolex,you have everything explained in the page of prizes,the number needed to roll and the chances in percent for that prize to happen.We all know that no one yet has won the Iphone 12 Pro Max let alone the Rolex so we should expect as you say the lowest prizes for a spin,if we hit something bigger then good for us,otherwise we will always be disappointed with the prizes we receive from the WoF spins daily. That is the limit of prizes in the WoF spins,you can't have more than 50 Satoshi as a maximum base prize which I think it is fair. That does make sense. After all, the base rewards are quite decent in itself, provided we get multiple WoF spins daily. On a side note, I wonder why hasn't anyone won an Iphone yet. So many people spin the wheel daily for the past few years. Someone should have got one of these rewards eventually. |
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Whales simply use it as a playground. Even if there is a crash, you cannot rely on price movements. When there are liquidations for longs and shorts, the market takes a big swing to screw as many people as possible.
Every whale was once a beginner. They have become whales because they used opportunities like the current one to their best. They kept doing it and that has what made them the whales. So we have the equal opportunity right now. Lets hit the rod when it's red hot. The markets are red which is the best time to fill our bags. I would call it a hot spot for everyone but the whales are utilizing it to the best. |
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Practice makes a man perfect and practice makes a trader better. How you practice is the key here.
You have to keep trying different techniques and strategies with lower amounts and this will improvise your efficiency at trading.
Once you improve enough then the game is just about the quantity. The profits you earn will keep growing then onwards.
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If only these so called mantras would work then every person on this planet would be a magician.
These are just coincidences which happen at times. We may think that the mantra worked for us but sooner or later it proves to be wrong.
We lose money and keep losing money trying to repeat the mantra over and over again.
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