Hi guys. I have a friend who's parents are looking for alternatives and want to invest money into something other than their IRA account. They have a fixed IRA with about $100K, but they are unsatisfied with the miserable amount of interest they're getting. I mentioned to them that bitcoin is a possible alternative and one they can look into It would have been better if you made them aware of this alternative indirectly What I mean to say is that if they invest in Bitcoin their lifetime savings (or some part thereof) and it doesn't work out as expected, you may be the one who is to be blamed for their failure. And it won't really matter if it might be entirely their fault (like "do your own due diligence in all cases") Regarding Bitcoin as a reliable and stable investment for the long term, the answer is a big fat no. No cryptocurrency is a reliable investment since there is virtually no real value behind it which would prop up its price no matter the circumstance. In simple terms, don't invest your lifetime savings in purely speculative assets |
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He believed in an "instinctive model" of state formation, and noted that a rich nation who falls into complacency and luxurious laziness would be inevitably conquered and replaced by the hungry warriors from the peripheries who are naturally strengthened (and cohesive) by the much harsher conditions of their savage habitat We have seen many historical examples of that With the Roman Empire probably being the most conspicuous one of this kind. More importantly, the decline of ancient Rome started soon after its Republican period ended, when the Roman nobility became lazy, corrupt and overall wicked. So there is a certain truth to Will Durant's quote. But can Bitcoin and its "ideology" really help us in this department? This is the question which should be asked |
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To reveal the dots on your profile highlight the number (1120) then right click to use inspect it should reveal the total bets you've made. Okay, I've done as you said and my number of bets is equal to a whopping 1214295 bets at the moment, which is definitely over 1 million bets. I hope this ends possible misunderstanding and confusion about the total number of bets at wolf.bets as it seems to be a legit number after all. If there are still doubts or suspicions, I can provide a snapshot And while we are at it, Autobet doesn't freeze anymore, but after running it for a few hours (say, for a night) the browser page crashes with out of memory error. It looks like there is either a memory leak in the script or the roll history needs to be purged after some time, especially in the autobet mode Also hope they introduce new features soon and the site gets traction and recognition among gamblers |
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If things were that easy
You can't alleviate poverty by giving out money as that will only make the situation with poverty worse. In fact, it will only aggravate it dramatically. The companies don't sit on their wealth as many seem to implicitly assume. All this wealth exists in the form of capital which creates added value, and that makes people's lives better. Now you basically suggest to take part of this newly created value and redistribute it in some way. Sounds familiar, huh? If not, what makes you think that this redistribution is actually going to help people or help them better if it didn't happen and companies would be free to use all of their income as they see most appropriate (read, most effective)?
When he talked about such amount of money to alleviate poverty, I believe that he is not also talking of distributing the money because if it were to be that, that would not even solve poverty level in a state. I don’t know how through that figure is. But if that was to be true, do you know what they would be generating in an hour, it means they would be generating like $600 million dollars in an hour, and imagine what this amount of money could create as project. One of the ways to eliminate poverty in a locality is to create system that would create employment and also put some infrastructures in place, and talking of alleviating poverty also, for their money to really have effect, they need to go to countries like Africa where $10 million dollars alone would do a whole lot of project there Things are not that easy Simply put, they don't work that way. One does not simply create employment and puts "some infrastructures" in place, there should be an economic reason (still better in plural) for that, something which makes the effort economically viable. Otherwise, it is just another, more concealed and less obvious form of subsidizing local population (read, giving out free money). You don't just take 600 million dollars and create a project. You should first come up with an idea of the project, and if it is worth the money, then you can ask for dough |
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Regrets are always in the end, sorry for your loss its a huge money indeed.
Investing in btc seems easy but the emotion that triggered you to do the wrong decision led you to what you are now. Sometimes we thought we can double or triple our money in gambling but thats wrong instead we can lose everything.
You learned your lesson the hard way, but it happened already what you can do is to move on because you can still earn that money by working hard.
Move on and play straight forward, mistakes can't be undone but in the other hands you'll be able to work it out and learned from each mistakes to avoid another mistakes, this hard losses can win back in another form of investment not inside gambling but another forms of investment, you need to work out with good research before dealing again if you are willing to or very keen to recover your losses. Lol. We learn from mistakes yes, but most of the time, gambling mistakes repeat themselves. You commit a mistake, you lose money, then you try again. I don't think there's much of a lesson learned there. If you don't get yourself out of this cycle, then pretty much you're bound to commit the same mistakes repeatedly That has little to do with gambling as such It is the same story as with any other activity in life because people don't make mistakes once, it is typically twice, thrice and many more times. And no, people don't learn from their mistakes since if they did, they wouldn't make them again, right? To stop making the same mistakes repeatedly requires a lot of conscious and strenuous effort far beyond what common people are capable of. It is basically about rewiring your neural circuits which you can't control directly simply because they are what is known as you and yourself |
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~ With that said, though, you could still use martingale and earn something without risking your balance too much. I remember there was only one case with a losing streak like 24 rolls at 50% win chance in the entire history of a certain casino. And that means something if you ask me. So as long as you are not losing in 20 or so reds on end, you can assume you are on the safe side of the dice
But your winnings will suck
If you are immune to 24 reds in a row, your winnings will suck big time indeed. In fact, they will suck to the extent that the electricity your computer uses during the game will cost more than all those winnings combined. So, unless you are willing to risk 10 BTC, your winnings will hardly be anything to talk about. But risking 10 BTC in order to earn several bucks per day is crazy imo Actually, that remains to be seen Right now I'm testing such setup empirically at wolf.bet. As you can see from these stats, I earned a little over 10 doges and right now my balance is around 90 doges, most of which came in the form of a giveaway. So if we take an average of 45 doges since I started rolling there, this produces 20% income on capital, which would be around 2% daily. And I have yet to see an outlier that would either kill my balance or add to it significantly Indeed, it is only a matter of time but since I can receive free doges daily, this setup is similar to the one described here, i.e. with each addition the killing streak becomes longer and longer, and then we can see how much can be made daily and how long it will take till the bust |
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Theres no such thing as strategy. It might have worked on a day or two, but it will not work consistently that one can earn money on a daily basis because if there is, people will stop working and just rely on this strategy since it would not require hard labor It is not only that As things are typically more complicated in real life than we want them to be or think they are. More specifically, people are greedy, but it is not so much greediness itself which is the main problem here (and elsewhere, for the record) as our inability to resist it. In other words, most people won't be able to stick to their guns and make do with what profits they can earn more or less safely. Their greed will force them to lose caution eventually and go for more. Then they hit an outlier like 20 reds in a row, and their don't give a damn gets instantly busted |
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~ One shouldn't let external emotions affect his trading, be they good or bad It is a lot easier when you follow a certain strategy as in that case you can bravely ignore bad or good moods, dangers as well as pleasures, and do your thing (in this case trading) as good as ever. Otherwise, your trades will still be negatively affected regardless of your mental state, whether you are in a good mood or shape. Your "best time" may easily turn out overconfidence, resulting in as bad results (if not worse at all) I think that emotions would be what the OP is referring as like a garbage knowledge that he should get rid of. It's like an innate knowledge we always have in doing every single things in life anyway There's another catch though And this catch is what ruins not just wannabe and armchair traders but also seasoned and experienced ones. Long story short, we are not hard-wired for trading. We are made in such a way as to react quickly without a lot of thinking based on "innate knowledge" (read, a set of beliefs about something). But the problem is, in the majority of cases that leads to rash trading decisions resulting in the loss of money, and that is when you are still forced to act and react as quick as possible. It is this decision-making machinery that we are equipped with by default that ruins many a trader since it is simply inadequate for trading and it can't be easily changed or substituted (if ever) |
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I kinda wish Bitcoin was more a boring steady as she goes kind of vehicle but its actually still all over the place. An actual crash would be a move down to 6000 in a day. The top hit was a trend going back to about April, so it hurt a nerve to put it colloquially As the saying goes, be careful what you wish for I perfectly well remember how in the first months of 2019 people had been crying and complaining all over the forum that there was no more life left in Bitcoin. People were bored to death with the lack of activity in cryptocurrencies. Now I read someone who wishes that Bitcoin was more boring, huh. Do you really want those days back? I think this is the last thing all of us could seriously be looking for (with short memory being the second last, obviously) |
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Many financial institutions did everything possible to get people on cashless policy until they got tired because they kept meeting less interest of people, and those who picked interest found it easy to adapt to the system. To me, there is nothing too difficult to adapt to in the system of crypto, it is just lack of interest that I see When money talks, bullshit walks People are not interested in cashless payments because there is nothing in it for them, although this is not quite true. Many banks are offering nice cashbacks if people are paying with their cards. That's one of the reasons Bitcoin and other cryptocurrencies have become so popular as they allow an easy and free access to trading places for all (whether people can actually earn something there is another question) On the other hand, it is not so much lack of interest itself as psychological inertia, i.e. "the reluctance of doing something in a different way as you have an indisposition to change" (as per Wikipedia). In simple terms, people don't like change and don't like to change. But once forced to some activity, they may find it quite interesting and appealing afterwards |
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But i still believe that bitcoin is not for everyone,it's only for those people who has high patience to keep on learning day by day because that would eventually develop their own skills in bitcoin and make them profitable in the latter part Bitcoin may not be for everyone But for entirely different reasons. As far as its user-friendliness is concerned (otherwise known as user experience), Bitcoin is already quite on par with other financial and payment tools (at least, as long as you don't try to get under the hood, which mostly refers to vanilla wallets anyway). It is not for everyone because it is simply not a payment tool and not because it lacks such capacity but because no one uses it for payments (well, some definitely do, of course, but not en masse). Bitcoin is an investment instrument and speculative vehicle but not everyone wants to get involved in this field as it is just too risky (read, many have burned their fingers already) |
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It seems there is some misunderstanding here
I just reread the opening post, and OP obviously refers to martingale with presumably safe settings allowing for very long losing streaks. His idea consists in earning 1% daily through a number of bets and then stopping till the next day. So it is definitely not about risking 1% of his balance as he is in fact risking his whole balance at each bet. I'd venture to say that his idea is quite feasible conceptually but the catch is that he can't go for 1% daily and not lose his balance pretty fast (in a matter of days). Technically, it is a losing strategy with so high a daily target
You are absolutely right, with martingale you can lose all your balance in a matter of minutes even if it is as big as 1 BTC. Thus the strategy from the OP is no way the one with which one can "gain money, but with low profits daily", as asked in the title That largely depends on what is actually being meant by "low profits daily". As I already posted earlier, if you are looking for 1% daily on your capital, you are in fact looking forward to quickly losing that capital. There is simply no chance to run this setup without busting in a day or two. With that said, though, you could still use martingale and earn something without risking your balance too much. I remember there was only one case with a losing streak like 24 rolls at 50% win chance in the entire history of a certain casino. And that means something if you ask me. So as long as you are not losing in 20 or so reds on end, you can assume you are on the safe side of the dice But your winnings will suck |
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I've seen it happen a million times. It's always the same, none of them did any due diligence, they got into Bitcoin because they heard it on mainstream news and have no long term notion of time. Those guys should have never been involved to begin with, they most likely have legitimate gambling problems What kind of due diligence do you refer to? And more importantly, whatever it might be, I'm not sure if it could tell you that the price first would rise to almost 20k and then crash to nearly 3k. Bitcoin is a speculative asset, its price is determined by a host of random factors independent of each other and which have nothing to do with what due diligence typically deals with. If anything, due "due diligence" would tell you that you should stay away from Bitcoin altogether as its price is totally unpredictable and can truly be any, like 10k today and 1k tomorrow. That's my opinion Once again we hear a sad story of gambler, you know here most of the threads come and gone about their losses, but in the end we can't go anything for them. So if you needed to reach out somewhere then you should changed yourself, and also change your gambling style. Truly, I speak, you can't recover your loss so better forget it and once again start your saving in bitcoin Well, trading is not gambling so OP should stick to either of the two. As a matter of fact, he should have stuck to his guns with trading Move on and play straight forward, mistakes can't be undone but in the other hands you'll be able to work it out and learned from each mistakes to avoid another mistakes, this hard losses can win back in another form of investment not inside gambling but another forms of investment, you need to work out with good research before dealing again if you are willing to or very keen to recover your losses If OP doesn't have the mentality (mindset) of a trader (which he obviously hasn't), he may better stay away from cryptocurrencies. This market is not for the weak-hearted |
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Coming up to the 10 millions bet, it is not surprising for me because they offers daily login bonus as well as faucet. Although the number of online users is still low but as long as they are rolling continuously every single day then it is easy to reach 10 millions bet. The more important thing is the wagered amount IMO, so I wonder how much is being wagered with that 10millions bet? Do you think how fast the roll from this site? 100 bets/sec? Its not easy to reach 10 million bets even you use autobet It may not be easy to reach 10 million bets, but it doesn't mean that this figure is necessarily fake, though I don't think this is what you are trying to get across. Regardless, here're my stats:  I don't know how to see the actual number of bets I've made so far, but it is definitely in many hundred thousands as I've been autorolling long enough (on the order of days). In fact, it can actually be over 1 million bets as the screenshot suggests. If anyone knows how to get full, unabbreviated stats with complete details from this site, you're welcome. I will readily provide them |
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Same with bitcoin, if it went up from 3k to 11k in 8 months and stayed there stable that would have been fine, but we moved from 3k to 13k even 14k almost and then moved to as long as 7.8k at one time and under 10k many many times and now over 11k which is why I think everyone is afraid of bitcoin If wishes were horses, beggars might ride Bitcoin is volatile because its price is not determined by its real use (as a means of payment) like it is, for example, with crude oil (which is also quite volatile but through reasons not related to speculation). In other words, you can't really expect a stable price from an asset whose price is determined mostly by relentless speculation. But you can take advantage of this volatility and earn dough through it |
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On another hand only owner can give us real answer on 11 million bet (yeah, at the moment more than 11) in such a short time. I think that may be old test bets which weren't deleted but at the same time as I see on website, plays are very active and bets are collected quickly I'm running Autobet like 24/7 With 2 rolls per second that would account for over 150k bets daily just for me alone. Given that I've been running it for almost 2 weeks by now (with a few breaks) and I'm not the only one using this feature, you can easily see that the total number of bets can be quite authentic and representative if that was your point or angle (whatever you like) If single person can accomodate the numbers of bets that you have right now, logically 11 million is very possible for short period of time, but likewise only the owner of the site can provide the right answer regarding to this concern, while the number of bets is continuous and now it's almost more than halfway to reach 12 million bets, new gambling site where gamblers are also showing interest and play all along I'm more interested why it is a concern at all Care to explain? I just looked through the last couple of pages here and couldn't find anything that would hint at it. I suspect the concern may be that this number is allegedly fake since why otherwise the owner of the site would have to be held accountable for it? If anything, I think this number is quite legit and reflects the activity of players, even though I'm not sure why there are only a little over 20 users online presently. The number should be higher |
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why? maybe because US dollar has been losing its place in the world despite what he is saying in that tweet, US dollar is no longer as strong as it once was. the sanctions, the war with China, the other viable options such as Euro, the corrupted banking system,... are the reasons why And how do we actually estimate the strength of the dollar? I know of one such measure, it is called the USDX (the US dollar index), which is the value of the dollar relative to the value of a bunch (so-called basket) of other major currencies including, ironically, already mentioned Euro. And this index has been pretty solid recently. In fact, it has been on a steady rise since early 2010s:  But probably you have some other metric reflecting the strength of the dollar other than the USDX also this in some ways reminds of the Gandhi Quote:
"First they ignore you, then they laugh at you, then they fight you, then you win" In Soviet Russia (corrected) in Trump's America they just shoot you down and get done with that |
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Hello,
what do you think after today flash crash of BTC from 12300 to 11600. Will it get back on bull trend and get over 12k again or will it slowly fall back to 10k?
I am really tired of these crashes. It is not first time I went from profit to huge minus just in few minutes. I cant understand how this can happen Get used to these crashes (and embrace them) Or stay away from trading altogether. Regardless, I can help you understand why such severe price swings are happening and why they will likely continue to happen in the future (at high prices). This is the kind of behavior you should in fact expect from mostly a speculative asset. Long story short, the volatility of an asset which is mostly used as a vehicle for speculation but which has a fixed, limited supply at that is invariably set to explode at higher prices I had been writing about this phenomenon in 2017 before we hit the 20k mark, that such prices can't possibly be stable. Now we essentially see the same picture, though at prices in the range of 9-13k. If we ever hit levels like 50-100k and those won't be supported by actual use of Bitcoin in real life, you will see prices surging and crashing as fast but even in the wider range in relative terms (relative means percentages here) |
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Do you see my point? I don't see this being a game to become a fiat millionaire, but a game to get out of crashing fiat. The challenge is to do that with fiat you don't need to live on, money you can afford to be without for a few years. Most people live paycheck to paycheck, buying bitcoins for the future is simply out of the question There are quite a few options available in that case The most obvious one is to reinvest your fiat income which remains after your basic needs are satisfied (a home to live in fills the list of basic needs as well) back in crypto (Bitcoin and top altcoins) right at the end of the next dump cycle. I suspect this is what many of us are already doing anyway. If you want to save the accumulated wealth, you should look outside cryptocurrencies. Gold comes instantly to mind, but there are other options less obvious and probably more profitable (gold hasn't been very profitable overall for the last 40 years) |
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On another hand only owner can give us real answer on 11 million bet (yeah, at the moment more than 11) in such a short time. I think that may be old test bets which weren't deleted but at the same time as I see on website, plays are very active and bets are collected quickly I'm running Autobet like 24/7 With 2 rolls per second that would account for over 150k bets daily just for me alone. Given that I've been running it for almost 2 weeks by now (with a few breaks) and I'm not the only one using this feature, you can easily see that the total number of bets can be quite authentic and representative if that was your point or angle (whatever you like) |
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