A brazilian medicine college student diverted almost 200.000$ from the graduation comission's funds, which belonged to her whole class, to place high bets through the national lottery. She won sometimes on short run, but after all, faced a huge loss and went into almost 40.000$ debt. After scamming the lottery, the police department was triggered and the investigation has started. She was investigated for money laundering and embezzlement. Later on, it was discovered the funds' origin. Meanwhile, the class students became suspicious about the situation after the woman told on her class Whatsapp's group funds raised for graduation were lost after she invested it in a brokerage firm and was scammed by it, but no further documents and evidences could be provided, because everything was robbed! Since then, no more updates about the case have been shared on the news. It happened about 2 weeks ago. Medical student wins lottery 5 times after embezzling graduation funds |
|
|
|
Could you believe that just as we are on the course of discussion on this thread i still experience a friend of mine falling a victim of related mistake, he uses the money in his disposal but belonging to someone else to gamble a too sure game and loose everything of about 600 USD, though the amount may not be as much as the one OP lost but regardless of the means we should not use other's people money to gamble, he eventually got deceived by the odds offered and place the bet to loose everything at a glance.
The biggest mistake of your friend was to have gambled with funds which didn't belong to him. Now, besides understanding there isn't such safe bets, he will also have to learn we can't use money from others to gamble. I hope he is able to recover that sum of 600$ faster as possible to return it to the original owner. I guess it's not that hard to retrieve that amount working for few months, at least. This story also reminded me a fact which was shared by local news where a college student gambled more than 200.000$ which belonged to the class graduation funds. The girl just gambled everything on the lottery and lost huge money. |
|
|
|
and I want to ask everyone what is your for buying altcoins, is the reason the same as mine?
Personally, I don't rely on massive pumps when investing in altcoins. I look for the unique features and benefits they guarantee to holders, while also checking their backgrounds, history, who is partnering with them, what are their plans for the future. If we invest in an altcoin solely for its speculative purpose, we will be gambling, so I don't consider it an investment anymore. A minimum or predictability and expectations are needed when making an investment, even inside crypto market, which is well known for its volatile nature. |
|
|
|
|
Focus your advertisement on young people. There are more chances they adopt bitcoin than the older generations.
Instead of superficial ads through sitckers, talk to people personally. A direct approach is more likely to turn into success.
Use the interest of each person you talk with in the favour of bitcoin. Let's say the person likes gambling, then talk about crypto casinos. If the person is a merchant, tell him he can import goods paying with bitcoin. If the person is an investor, promote bitcoin as an asset to be held on long run. Always highlight the feature which looks more persuasive depending the situation.
|
|
|
|
Stop following crypto influencers, those of you who like using YouTube videos to pick coins and tokens to invest in you need to hear this, those crypto influencers on YouTube are getting paid to promote those projects they are chilling, why would they promise you 2x or 5x when they aren't part of the team themselves? They did this because that's how they make their own money. He who have hears let him hear.
If I got a bunch of followers, I might be doing the same. 1. Buy a token I like in a large amount than hype and praise about it, dump when your followers starts buying it getting yourself a profit. Even if you ask me which coin would be good for future, I'd most probably tell the one I hold most. 2. Talk anything anyone asks me to if they are giving me money to do so. With some restriction statements, I would not be liable for any legal actions. And then you would sacrifice the trust you have built along the time with your subscribers because of some easy money. People who have lots of followers can use it at their own favour for profits without being part of a scam or pump and dump scheme. They just have to promote a legit service dealing with Bitcoin. It can be a crypto exchange, casino or even a token, but they should make sure to be always honest with the public, explaining the risks involved, so nobody will feel deceived in the end. |
|
|
|
IMO, the reason for the declining popularity is due to the fact that beautiful women are no longer getting elected as Miss Universe. The selection is rather based on political reasons. You can compare the winners from this competition, from back in 1990s to those who get the selection now. Back then, the winners used to be really good looking (that doesn't mean that they lagged behind in other characteristics such as communication). Look at the winners now, and in reality they would struggle to win a neighborhood beauty contest. Do you really think the recent elected winners aren't pretty? For me the recent and the older ones are in the same beauty pattern... I just think it's curious there isn't any blue eyes, blonde, germanic winners, but every other ethnicities are represented there. Miss Universe is really a tough task, because each person has their personal preferences regards appearance and behavior of a woman. Nowadays there is the agenda of "female empowerment" inside the feminism, that is a fact, but even if it wasn't for it, I think we couldn't reach an agreement on who should win the competition anyway, because of those personal preferences each one of us have. |
|
|
|
The common one start with the gambling casino requesting for KYC often especially when the gambler would have won, they introduced this verification procedures in ither to help delay and possibly cross check the winner for more verifiable authentication before handing over the fund to him but eventually it turns to an offence on the gambler's end since incomplete procedures to that may hinder him from redeeming his winnings, which they never taught about to request him doing before he won, the more reason many now termed it as gambling fraud in some cases.
After reading so many different methods used by players to scam casinos, I start thinking the KYC process is quite acceptable, because casinos also have to adopt protective measures against cheaters, otherwise they can even go bankrupt with so many threats and attacks against their platforms in real time. If they know the identity of the gamblers, it's easier to track them and make they return money they won unduly to the company. It's understandable honest players feel offended sometimes for having to show their IDs after big wins in order to enjoy the prize, but we have to understand the other side as well... Not only casinos cheat players, but the opposite happens a lot too. |
|
|
|
Well, you decide whether it's bad for bitcoin when Elon Musk did sell off all of his BTC during the bull run but switched to altcoins. It did manage to make a huge drop of the price but it still manage to recover somehow. If all of these people like Elon Musk/Whales do the same method it will somehow drop the price but that's it with basic knowledge of economics you will surely know that they won't get the same amount on every BTC they have.
Bitcoin price will drop everytime when there's a buyout but I wonder who would take the loss when the price hit the ATH.
That is a good example of big money and its impact in bitcoin market. As we can see, on short term on that currently moment it was revolting and shocking the fact Elon Musk attempted to manipulate the market and consequently lead it to a crash. But thinking about that now, it doesn't impact investors anymore, because the storm can't last forever. Bitcoin has recovered a little bit already and we are in another stage at this time. So, there is not reason to fear big money coming in. Its impact will be always on short term only. Investors who aim holding for years won't be affected in anyway by big players' schemes and manipulative strategies. |
|
|
|
I would like the OP to see that he has been questioned on occasions in the thread, could you show us a preview? maybe some screenshots on your sites, how the development is going, because for us it is important, all the opinions here are valuable, and we have given good ideas to OP, and I know when you start with a site things are difficult and somewhat complicated, but you should do that, because I am very curious about how this is going, it is already a matter of curiosity, so if you can, a video, or forums would be something that I would love and many here too.
Actually, before starting this thread he should have waited his project development to be more advanced, so he could create the thread with solid informations and previews for gamblers from bitcointalk community. The way he made this thread is worthless and will only denigrate his project for his lack of professionalism, especially when refusing to come back to answer questions and updating people on how things are going. Even if the project was paused for some reason, he should have come here and told everyone following the thread in a signal of respect and consideration for their potential future customers. |
|
|
|
But one question I will like to ask is this.. "How did the user knew he had won and yet didn't know how much that was involved ?"
It was a scratch-off ticket which immediately displayed he won 1$ million dollars, as soon as he scratched it. So he called the woman to receive the prize for him. Due to taxes to the government, she should have sent the winner-cousin 487.440$, and grabbed 50.000$ for herself, as he promised to give her that comission for the task of receiving the prize. However, she just lied to him saying the prize was only worth 20.000$, and almost 7000$ were used to pay taxes, so she sent him 13.436$. Probably the man got suspicious about the situation and investigated further, reaching to the lottery official website, which displayed the woman had really received the 1$ million dollars prize, or $537.440 after taxes. After that, legal action was taken. |
|
|
|
In the end, there are factors that can minimize or help reduce Bitcoin volatility but I believe there is no way to end it.
There is no way to end it, that is true, and it's preferable that it remains like this, as we have the assurance to be dealing with a decentralized currency. But to minimize volatility it's just a natural process which is happening year after year. Adoption just needs to continue increasing, so volatility will decrease progressively. Volatility is directly related to the manipulation power of whales. The less power whales have, less susceptible the market is going to be to manipulation, decreasing volatility. When the market has more participants, it's likely the sentiments will be mixed, so while some panic sell, there will be others buying the dip, keeping prices more stable, although the total balance is never achievable on this market. |
|
|
|
Am I the only one who thinks it's disgraceful the sportsbook released that information?
It is disrespectful to the gambler.
If that was me I would close my account and never gamble with that company again.
Discretion is everything in this game and these idiots have lost a lot of credibility in my opinion.
Well, since the gambler who placed the bet didn't have his identity revealed, as the article says, I think there isn't any issues in sharing the fact with more people through the news article, as it's a very curious situation, besides being an extra alert for gamblers who think low odds mean safe bets. That this negative experience can at least have some positive outcomes if another gamblers can take it as a lesson for their lives as well! |
|
|
|
It looks like the user with id 22123 has outdone himself by collecting over 29 million lottery tickets this time. Honestly, I've always wondered what exactly motivates the users (whales) who wager so much. I doubt such users do it just for fun and hope for their luck. They probably have some special strategy that minimizes losses due to house edge and allows them to profit from both the daily leaderboards and the huge number of lottery tickets and RPs.
It's hard to say how they have acquired all those tickets. It can be through his personal wagers, but it can be also through direct purchases (each lottery ticket costs 1 satoshi) or through referrals' comission (every faucet roll by a referral guarantees 1 lottery ticket to the referrer), or it can be a mix of the 3 methods. I don't doubt some gamblers just purchase lottery tickets directly, instead of risking a lot of money wagering on multiplier or sports/events. |
|
|
|
Or do you feel that there is no similarity between keeping bitcoins and keeping money?
Bitcoin is money. Maybe you meant fiat currencies. Then in this case I think it's worthful to save only in Bitcoin currency, while avoiding to hold large sums of money in fiat, due to its accelerated devaluation which happens in a weekly and sometimes daily basis. If you have a lot of fiat saved, better that you use it to invest in BTC or in properties, as the long term potential of such investments is quite decent, when compared to the alternatives banks offer us, which are usually unprofitable after all. That should be a lesson taught at schools since we were kids, but unfortunatelly we only learn about it once we reach adult life and see on practice how fiat saving accounts and fixed income offers are a big joke over investors. |
|
|
|
With the current state of market trust what will incentivize the average person to use bitcoin over a CBDC?
You know CBDC is the same thing of fiat, but in digital format, right? CBDCs aren't a plus for governments and traditional banks against Bitcoin and decentralized crypto in general. The incentive to use Bitcoin is still the same: have control over your own money, transact it boardless anonymously, protect your patrimony on long term against inflation and potential government's seizure, accessibility when working and being paid online. Since banks can control supply they can use inflation and other mechanisms to encourage spending. Bitcoin on the other hand requires additional layers to handle even the current network traffic and lacks incentive for day to day transaction use.
This is nothing new. Since the launchment of BTC in 2009 we hear these arguments, and they didn't prevent Bitcoin from being successful and hiting new ATHs every few years. |
|
|
|
7. social engineering (Soft begging)
I have seen a lot of times people in the casinos chat telling some really sad stories with the intention of touching other users' hearts and that way receiving some coins. We can call it the shame speech. Who would believe a sad story that is being told by a random person in an online chat nowadays? I thought that the "Nigerian prince" email scam would never survive in the long run. Maybe I was wrong.  Anyway, OP has mentioned all the ways the gamblers are trying to scam the casinos. We should make a list about all the methods the online casinos are using in order to scam their customers. I think that the credit card fraud shouldn't be mentioned here, because: 1.This is a crypto gambling forum and most crypto casinos don't accept credit/debit cards. 2.Most online casinos(both fiat and online) are trying to stay away from credit/debit card payments, because they might get accused into supporting money laundering/CC fraud, so their business might be facing big trouble. Well to be fair, the Nigerian Prince Email scam is still running even to this day. They just use different tactics now. But I digress. The fact that chargebacks are as easy to execute as breathing is the main reason why most casinos nowadays settle with using cryptocurrency payments, because at least when you use crypto you don't have any power over it anymore. Then again CC is still a pretty rampant payment method amongst casinos so I see why it could still see some usage, and I understand the fact that this is a crypto forum but people come in here, especially in this particular part of the site for gambling advises and tips as well, so I think it's alright that OP mentioned it. The nigerian prince email format has evolved, and it might be used now in an attempt to execute phishing attacks in order to hack an account the individual have at a casino. There are many false emails being sent to many crypto enthusiasts in a daily basis, simulating announcements from official social medias, banks and crypto services in general. If you click one of those links they send, and give any personal passwords, it's likely hackers will have access to your virtual accounts, including casinos, if you use the same password for different services. I believe they can also steal credit cards this way, if the person is naive enough to give his further personal details, as the masked scammers keep asking for it. |
|
|
|
No casinos will succeed right from the start with no bankroll at hand. Eventually, there will be some high rollers that will try thier platform and if he wins, they'd find a way not to pay.
Casinos are a profitable business they say, it is, however, a mountain to climb if there are no funds from the beginning. I guess this is the reason for the wager limits.
Correct. Some people think it's easy and cheap to run a virtual casino, as they imagine you just need to acquire a domain, set your website up and configure the games to work. Then, they just need to sit down and wait the money flux come in... However, it's a very expensive business to start, which demands large investment, as at anytime (during the launchment of the platform maybe) a player can hit a jackpot prize which must be immediately paid to the gambler, if he wishes to cashout. If the house doesn't have that money, it's already going to be a failure since first day, suffering heavily accusations of being a scammer casino by the gambling community. |
|
|
|
|
Video games' players aren't too far from the right path. If they are able to grind for so many hours daily, it's an evidence they have determination, patience and are able to fulfill with long term goals. They can take what they have started until the end and that is a positive trait on an individual.
Actually, video games can help people to develop those traits, so it's not entirely a waste of time and energy. They just have to know when to stop in order to start doing something else, where they can put those same skills in practice and make their lives change for the better. That is where most players fail, because they can't just do the transition because they live in a confort zone or fear the outside world.
|
|
|
|
In some cases it also applies. But regards altcoins, there is still a practical purpose on why we should acquire and hold them for real benefits.
Only real life practical purposes for altcoins i've seen so far can be summarized to transfer of value and storage of value. Yet people are mainly using them to speculate with volatility. Which in high enough quanties ironically defeats the purpose for transfering value or storage of value. You can use nfts for transferring value too, that value however will be even more volatile. Ironically again attracting those same speculators who could be speculating with altcoins but are now bringing more liquidity to nfts. True, but if you can speculate on something which has a practical usage it's more advised than speculating on NFTs which have as main argument the uniqueness of the pieces, although you can reproduce each of them for free with a simple print-screen function on your keyboard.
We have already established that you can't reproduce them as collectables. It's like saying you can reproduce bitcoin by making your own chain that might as well be hosted only in your own computer. It would be identical yet, no one wants it. The potential of these artistic NFT collections is the same potential of memecoins. Today they have demand, but tomorrow they might not have anymore, because it's exclusively about hype, instead of real benefits and application.
This is true yet it applies to any altcoin out there. Current applications are only worth something as long there are enough people using them. Not sure what benefits you are talking about. Because of the speculation which can last until tomorrow only, and not because those NFTs are considered outstanding art pieces. Speculative price can be 1$ million dollars, but artistic value of those NFTs is zero.
Once again you are talking about artistic value. NFTs aren't about that. They are about tokens that are not fungible. People are not really "buying art" even though some people are acting as they are. They are buying tokens that are representing something. They are buying pictures in a sense they are buying links to files in ipfs. There are so far only few use cases for them. Reddit for exaample has already implemented nfts as avatars. When you use NFT avatars whey show up differently in your profile and you can't fake having nft as your user profile. But this isn't really about those either as infrastructure for making any practical use for nfts is not mature enough. We don't know what future holds but i am sensing it would be going to direction of profile pics like in reddit first. And after tech like dusk is ready, we can make them represent actual physical things like securities. Regards NFTs, do you mean? In some months or years nobody will know what apes and punks are anymore and enthusiasts holding those pictures on their wallets are going to see their investments melting down... And that is not hate, just an alert for investors who are being deluded by this category of crypto investment.
Well this is just you speculating. Some people also thought bitcoin and altcoins would be dead by now. And even icos were supposed to be dead but that just changed name and shape a little and came back with vengeance. I believe your point is that you think the code, the ownership behind the NFT worths something, while I mean they are all about aesthetics, and that is everything what worths in a NFT art piece, therefore I can copy it and have the same final product anywhere on the internet. If I have the aesthetics, I see no reason why I should care about having the ownership of it, and I see no reason why it should be so valuable, therefore I consider it a risky investment which can have its price driven from 1$ million to zero in a matter of a day. You will say altcoins also involve the same risk, but they aren't about aesthetics and their respective blockchains are used by crypto developers to create their own tokens and by crypto enthusiasts to transact when the networks of the main cryptocurrencies are too congested, so it's not so simple for them to have their demand and price nuked. |
|
|
|
I want to ask if what I did wrong, or right.?
and are you also the same as me, implementing a bitcoin saving syste?
I don't want to judge if what you doing is right or wrong, because I don't know how your reality is. But on my personal perspective I prefer to invest the largest portion of my funds in BTC, keeping only the minimal amount of money needed for daily expenses in fiat currency. This way I'm protecting my money thinking on long term investments, like properties, which demand a large sum to be executed. By there, I pretend to let all my money in Bitcoin, with the exception I mentioned above. It can be considered a risky plan, and I agree, but as I see it's the best I can do for now. |
|
|
|
|
Show Posts
