As a result, it is not surprising that every now and then we see someone who thinks he has found a good system to win casino games by applying some variant of the Martingale. This is despite the fact that these are not complicated concepts and the information is easily accessible to everyone, it is not like 30 years ago. I would say that at least 25% of the people who write in this section fall into this category.
Do you have the same perception as me?
If we were in some years ago I would agree with you, because there was indeed a large percentage of forum members who considered gambling a method to make money, side by side with trading, signature campaigns and micro tasks. It was a common belief, maybe because many of them were introduced to crypto gambling recently. But right now I think the general mindset has already changed. Of course there are a vast number of posts still stating sports betting is the key for profit with gambling, but I think this concept has already decreased in popularity as well. What happens is that always a new hype begins in gambling field, people will start talking about that in a positive way, as it was possible to gather positive results on long term. And once they realize to be mistaken, such opinions fade away from the common sense. Anyway, that is an endless sequence of cycles. Once there is a new trend, all the hopes from gamblers will relight, attempting to find the perfect method this time. |
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The WoF spin lately I think is being a bit more favorable to us than normal times,yesterday with just 7 spins I got 5000 RP after a whoooooooooooooole lot of time without ever touching this prize.I immediately exchange it for 5 WoF per roll and today I spin 72 WoF spins and won a 5000 Satoshi big prize and about 1500 Lottery and 1500 RP from such spins.I am happy with the new year prizes right now but I am thinking to buy about 7000 tickets with the satoshis I have in order to have a slightly better chance for tomorrow lottery but most likely I will not.
I also have had this impression recently, but maybe it's purely luck. Usually I was earning 550 satoshis + RPs daily from 15 spins, but now I'm getting better results like 1000 satoshis + RPs daily quite often, besides a 5000 prize (can't remember now if it was satoshis or RPs) two weeks ago. Just used 15 spins today and got another 500 RP prize. It's very good when it happens. However, do you really think it's a good idea to purchase all those tickets? You might be wasting your satoshis, no? |
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For 2023 I will continue with Ethereum, FUN token and CRO from Crypto.com as altcoins. Ethereum because, after bitcoin, it's the second option when we talk about cryptocurrencies. There isn't other altcoin with the same potential and reputation of ETH in the market. FUN because it has proved to be a stable altcoin which offer decent benefits through freebitco.in premium program, and CRO I stake the amount required by Crypto.com platform to have access to their debit card, which is useful and convenient when dealing with crypto and fiat in a daily basis.
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It's not known whether there truly is a small group of people that is able and actively engages in triggering major Bitcoin price shifts. I don't see enough evidence if it, and thus I don't believe it. Distribution is definitely uneven, but that's the way with any kind of wealth in the world, so it's a global challenge. Limiting the amount per person would be dystopian, as it limits the freedom of people to buy however much they want and requires linking all wallets to personal IDs to ensure one person doesn't simply have several wallets to avoid the limit. I think that a way toward more equal distribution of wealth, including Bitcoin, shouldn't be as restrictive.
I definitely agree with your statement. I also doubt that a group/entity can affect the price of BTC in the market even if they have majority of the coins on hand. They may manipulate the price at some point but the effects would not be that too much of a difference to the point that it will definitely disrupt the market. Like what you also mentioned, having a centralized authority which regulates the transaction of BTC contradicts to the very nature on why BTC was created in the first place. Again, this is not what Satoshi imagined if this were to happen. Having the freedom to transact using BTC without the need of a central authority is the true gift of BTC and this should not be eliminated due to regulation from a central authority. It's true whales can manipulate the market, but they can do this only once, because once they drop a large number of bitcoins for sale, those coins will be immediately splitted among more investors, decentralizing the supply of bitcoins in the market. Actually, that is already happening since the beginning. In previous years, manipulation was so much powerful in crypto market than it is right now, because the more investors adopt bitcoin, the less influence whales will have to play with prices. It's the kind of issue which doesn't have an immediate solution. It's something which decreases progressively within time. It's a long process. |
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May I ask you on which game you've gambled? It was on the multiply BTC game or on sports betting? If it was on the multiply BTC game did you use a bonus amount? Because even with the bonus you can't get a positive EV afaik, the bonus will divide the 5% house edge by 2, but it won't be enough to make profits, with 0.8% or even 1% cashback despite RPs and lottery tickets. The only way to make profits is to win some prizes from tournaments IMO.
Mainly multiplier game (dice). Tried to get advantage of the x2, x3, x4 RP bonus days only. What took me down was to lose 3 times in a row with the maximum winning chance available (94,06%). So I definitely had to stop gambling. By tournaments do you mean the prizes given to biggest wagerers of the month and the biggest of the day? |
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Well done! Keep accumulating more satoshis always you have an opportunity of doing so. Try saving a portion of your wage to buy bitcoin every month or every week. Draw a goal to be achieved in bitcoin holdings this year. I expect in 1 or 2 years your effort will be rewarded. Next bull run has potential to drive your currently holdings to 200% profit, being conservative on my prediction.
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Revenge gambling could work for some gamblers and never work for others so I don't advise people to take a walk on that path because the end can to so disappointing if care is not taken. If we want to win back out loses then there are ways we can do that rather than planing to revenge immediately with the assurance that we are going to win back our lost funds.
There are pro gamblers that might have been very good in revenging to make the lost funds and the is mostly dependents on the kind of game we are into or what we bet on. If it is a kind of bet where the house does not have so much power on gamblers then that is find but we just need to understand what kind of gambler we are and the kind of bets we are playing.
I think if a gambler has money he can afford to lose, there is no issues in chasing losses. In case he recovers his money, that will be great and in case he loses more money, he won't be bothered at all, because it was a calculated risk he took. The problem is when the gambler risks all his bankroll or money he is going need to pay for daily expenses to recover a loss in gambling. In this situation, if he loses, it's game over and there isn't anything else he can do to revert the situation on short run. I believe the gambler who persist in revenge gambling has already started playing with a wrong mindset, that is: to win at all costs. |
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Every token offering more than 6% APY should be already taken with a grain of salt. Further research is needed on how they are making profit to offer that yield. If there aren't reasonable explanations, don't invest in the token, because it's likely they are simply creating hype through high interest rates to lure investors into the investment.
As interest is paid, investors start dropping the earned tokens on the market for profit. At some point, the supply exceeds the speculative demand, leading to severe crashes in price. As developers aren't fool, they liquidate all their holdings before the boat sinks for complete and then we see altcoins dying, with their prices reaching to zero.
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Did anyone follow this news?
I just read it and I'm glad that for once, the intended targets are actually the exchanges [as opposed to customers], but it would've been better if there was also an approval for the asset segregation clause [it could've provided better protection for newcomers or those who have a habit of keeping their funds in such platforms]. Curiously asset segregation was refused by the congressmen. I suspect it could be because if they approved that, the number of exchanges allowed in the brazilian territory would be too restricted, because I doubt a considerable number of exchanges would agree with this requirement. Anyway, Binance announced the nephew of the new Minister of Economy from the new government Lula, which is going to take control tomorrow, as general manager of the company in Brazil. It was a clear political movement from Binance in Brazil. |
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Are people even willing to still follow these idea or is bitcoin doomed to be a place for profit gamblers that will slowly loose its relevance?
I've seen a lot of similar statements from the 2018 bear. Look where we are now. That is true, the issue is that people even after the 2018 bear didn't really ever start to get bitcoin back in the right direction. Basically everything after 2018 was just a hype because of high prices and not because there was a fundamental progress. It is obvious that prices can go up again, simply because bitcoin is limited to a specific number. The question is, just how sustainable this rise could be if there are no fundamentals to support it  Bitcoin is mostly being used as investment by people who want to escape the devaluation of the fiat currencies, what is also a very useful feature of bitcoin, besides being a digital boardless currency. It's not all about speculative profits, but also fundamentals, and fighting inflation and money's devaluation is one of them. Right now the situation isn't that good, it's true, but there are external factors which are causing it. Furthermore, we can't live in bullish market forever. There are cycles following each other. We have to be patient and wait for this cycle to finish. The important is that bitcoin isn't losing importance, because we are still at 16,000$ price range, despite so many negative news and thefts this year which made investors lose billions of dollars in cryptocurrencies. |
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If this whole situation was made up to encourage mass withdrawals and raise the company's reputation, this event should be ignored as proof Binance is solvent. The real test happens when the CEO and his team are taken by surprise, what seems to not be the case here. I liked what CZ said about exchanges, though:  It's really simple. Exchanges just need to respect users' funds. If you have 1 BTC deposited on the platform, they must keep that 1 BTC there, instead of exchanging it into altcoins to run their schemes. Moreover, when the community points alerts on possible exchanges which are potentially going bankrupt, the accused exchanges shouldn't victimize themselves, but to deal with the situation as something normal, since they have the necessary funds to fulfill with their obligations. |
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Blackjack is my favorite gambling game and I had big hopes of profit playing it, but when I play it seems the cards are completely against me for several following rounds. Does the advice on this thread includes AI Blackjack games, or only live games where the croupier is a real person? Anyway, the AI Blackjack should be provably fair, no?
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Now you have $100,000 in your account, pure savings, and you don't need this amount of money to cover your daily expenses. Obviously it's good/free money to use at will. Let's say if you deposit the money into a bank and the annual interst rate is 3%, you will get a steady interest income year by year. If you use this money to buy Bitcoin, let's say the BTC drops to $17,000, you'll buy less than 6 Bitcoins. In the long run, what would you do with this money ? And why ?
First of all never ever save more money than you need for 6 months of your expenses as liquid cash, inflation will eat the value and as your post says if the bank is giving 3% fixed interest rate but the inflation is climbing above 7% so actually in the end we will be losing 4% and some unofficial reports says inflation rate is already above 10% so that's the status of depositing. Investment is the wise choice as we know but don't go all in either its bitcoin or gold or anything, learn to diverse the capital and invest on multiple assets with different risk levels. That is true. Saving account prposal offered by banks should be forbidden, because it's a scam legalized by the government. They intentionally allow this knowing most people aren't aware about inflation and how they are losing purchasing power along the time by "investing" like this. I can speak for myself, as until some years ago I wasn't aware about this reality, so I was losing money by letting my funds idle on fiat saving account. From that moment all I liquidated all my fiat holdings and went 100% full bitcoin investment, and I still don't regret doing this, because I know my money is safe on long term (at least until the next bull run). |
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Better not, you need to do your own research and analysis in finding the right way with your investment, following other's strategy might lead you to lose your money, they have sets of plan just in case the market will not favor the position that they have while you don't have anything and if fear will dominated you, the chance that you will sell your holdings during the bear market and unable to recover once the market start to bounce back.
because every investor has different goals and has a different strategy. So if someone wants to invest in coins or altcoins that are just following other people's words, that would be like suicide. because what other investors are planning we will never know and they have a way to cover losses when an accident occurs to the coins they hold. Meanwhile, if we follow other investors, we will definitely be confused about what to do when the coin we hold that is the same as another investor crashes and we will only lose. so it's really not recommended to invest in following other people. But isn't crypto market all about following other people in order to make profit? Investors are constantly trying to find a new hype at its beginning, so they follow other people on that hype to purchase tokens at its beginning, and sell on the moment closest as possible of the ATH. That is how altcoins' investments return profit to enthusiasts. For crypto market to thrive, people need to follow other people, even if they want to deal only with bitcoin. I think the problem is who investors are following. If they follow legit developers and other legit investors who have a long term vision of cryptocurrencies, it will be rewarding for them, but if they follow scammers and charlatans, they are going to lose their money. |
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I think the logic behind penalties for dormancy is warranted and how grave the consequences are is justified, after all they are a business model and they will do everything to ensure that business model stays afloat. And it's not like it is a hard thing to avoid, all players would have to do is to login every once in a while and maybe play one or two games for some, to register as an activity. Or maybe if you're really not seeing yourself playing in that casino anymore in the future, perhaps a proper deletion of your account and transfer of the funds is an option that is possible too.
If they let their account inactive for a few months, the casino has no problem freezing or closing their account. Gamblers who feel it is unfair should be able to think of a casino as a place of business and provide various gambling games for those who want to gamble. And if casinos close their accounts, that's only normal because casinos want to see gamblers who are actively playing gambling instead of having lots of inactive accounts. At least I agreed to log in occasionally and deposit some money to play so the casino keeps our account open. This measure has a dangerous impact on gamblers, because sometimes we lose control over the number of casino accounts we have, as there are so many of them available in crypto industry. Imagine you have an account on every casino promoted on this forum and want to play at all of them. After a while you will have some money idle at one or another casino. And let's say you forget it for several months or even a year, but as soon as a new bull run begins, you remember you had some funds idle there, so you login at the casino to withdraw it, but surprisingly, there is nothing left, because the casino has confiscated your money! That is a very annoying and disappointing experience which would lead me to stay away from that service provider forever! |
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Perhaps my sitting all alone in my bed on New Year's Eve isn't helping.
Actually I think that is the main point... Problems, crisis, climate changes and conflicts have always been present in a global level every years, but we tend to over-absorb all these negative news when we are in a bad mood and discontented with our own lives, especially during Christmas and New Year, when it should be the happiest moment of the year, to be shared with people we love reciprocally. Anyway, happy new year to everyone and good luck on your bitcoin endeavors!
Happy New Year to you as well! That 2023 may be different in a personal level, because the problems of the world aren't solvable! |
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Okay, maybe most people complain about conventional stores because the prices offered are higher than the prices offered by online stores, it's natural for you to be in a situation like now, economic turmoil occurred in various industrial sectors and was accompanied by inflation. definitely looking for the best price to save money in the current circumstances.
After I read the book a few days ago, it turned out that it is normal for a business to be disrupted by new innovations and if for business people to be unable to balance or adapt to changing times.
That's the point, we look for the best price to save as much as possible in a difficult situation like this. It's not that we don't think about other people, but it's the situation that makes us do things that don't support the economy around us, let's say. Merchants can compete and attract consumers to buy from them, but they must have something to offer us and give reasons why we should buy their wares, such as more affordable prices for example. Because what I see now is that consumers like me are looking for something that is cheap and of the same quality. Logically, people will prefer cheaper ones with the same quality comparison. If local stores want to sell, they have to offer competitive prices compared to the online stores. But maybe they can't, because they purchase from online stores to sell more expensive in the local community...  So I guess the local stores aren't even necessary at this point of modern society anymore. Those entrepreneurs should look for alternative ways of making money. Moreover, when purchasing online we have access to a wider variety of products we wouldn't have access shopping locally. On the other hand, there are exceptions of local stores. Some of them are very traditional and offer goods you can't find so easily on the internet. I believe these ones are relics which should be preserved by locals. |
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Congratulations! You did it right in giving 10% discount to customers paying for your services in bitcoin. That will surely increase awareness and interest from the community for btc. Hopefully you will be the responsible channel for introducing many women to crypto universe through your beauty shop business in Nigeria. I advise you placing a "step by step" banner on your shop teaching people how they can acquire bitcoin and send transactions. That 2023 may be the year of bitcoin adoption in your community and the year of bitcoin profits in your business!
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The situation was already bad before LUNA scam, due to FED increasing interest rates for investors in USA. On that moment I believe we entered the bearish market, with tons of money flying away from crypto environment. That was the initial cause, I think. Add it to crypto entrepreneurs dealing in a shady way and using customers' funds wrongly and then we have a completely messed bearish season.
Anyway, it was just a matter of time until LUNA, FTX, Celsius, Voyager and every other minor scams collapsed. If it didn't happen now, it would happen next year or so.
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What incentivized me was the fact there were many offers online to earn bitcoins. I didn't purchase my first satoshis, as I could earn them performing tasks online. Since I didn't have money to invest back then, that was my opportunity to start collecting and saving btc for the future. And thanks to God it has been working so far.
You should purchase bitcoin because it's the main and most reputable cryptocurrency. It's the crypto with best long term chances, while guaranteeing safety to your investment. When you invest in btc you don't have to worry if the coin will be still demanded after several years, because we have the assurance bitcoin is king and will remain on top of crypto market.
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