Bitcoin and Crypto currencies are an alternative to Cash ..... so is Paul Tang saying that all cash transactions should also not be anonymous? The pseudo anonymity are not designed to protect the criminals.. it was designed to protect the user of the technology. Just imagine a scenario where every owner of a wallet (Bitcoin address) was public... Criminals would have had access to all the names of the wealthy Bitcoin whales and owners of a lot of coins. (Your neighbor will know all your spending habits and how many coins you have) Nobody would be using the technology if ownership of all coins was public knowledge.... and once it is centralized, people lose control over their ownership of their tokens. (Exchanges have control over your Private keys)  |
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I can understand that a newbie gambler will question Freebitco.in's Provably fairness, if they use the Martingale Strategy on that site. I too tried it in the early days, when the site still gave 1000 Satoshi per hour on their faucet and I failed miserably. My conspiracy theory was that Freebitco.in ran some kind of Martingale counter to protect them, but over the years I saw expert gamblers doing the math and testing the Provably fairness of the site and it all checked out. My advice.... stop using the Martingale strategy when you see a losing streak coming....and mix it up a little.  |
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I read every single reply in this thread and I can say that the majority of them prefer a more favorable RTP over promotions. Now, you can say that the reason for that is that most of those people are gamblers and it is natural for them to request for that, but I say... if a gambler have a nice experience and they receive value for their money... then they will gamble more at that casino.
You will not maintain you gamblers if you suck them dry with every session. There should be a very good balance between losing too much and winning too much at a casino. Imagine visiting a site every day with say a $100 deposit and you can only play for 10 minutes.... How long will it take for you to stop gambling at that site?
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I think the operating expenses for an exchange have very small margins for changes to their fee structure. Let's take Coinbase as an example ..... they got a lot of negative comments in their early days, when their support could not keep up with the volume of users that registered on the site. So they invested a lot of money into their Support staff and also auditing team, because they became fully KYC/AML compliant. I also think they have a full-time job to keep hackers out and they are paying millions in insurance to cover them, if those hackers manage to get pass their security. Will a new Startup be able to offer the same kind of security and support at a lower fee rate? |
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Can you imagine what will happen with the price of Bitcoin, if Russia start to accept bitcoins as a currency to pay for their oil and gas? Russian Crude Oil exports was reported at 4,653.500 Barrel/Day in Dec 2020.... and in 2019, the world’s top exporters of crude oil were Saudi Arabia ($145bn), Russia ($123bn), Iraq ($73.8bn), Canada ($67.8bn), and the US ($61.9bn).  Source : https://www.aljazeera.com/news/2022/3/10/infographic-how-much-of-your-countrys-oil-comes-from-russia-interactiveDo you think Bitcoin has enough liquidity to fund $123bn of oil exports and that has to go through Russian exchanges to convert it to Fiat currencies. (Most other Crypto exchanges are blocking Russian wallets or Bank accounts linked to them) |
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I do not think a lot have changed, since Crypto currency casinos has been introduced. Online Fiat casinos has been around for years before Crypto currency casinos came on the scene and you are seeing more and more of the old Fiat casinos starting to accept Crypto currencies. (it is after all just a new currency that are being added) I think the Covid pandemic has accelerated the shift to Crypto casinos from Brick n Mortar establishments, because Covid restrictions forced gamblers to search for alternative ways to get their fix, while they were at home with lots of time on their hands. |
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I do not think it is advisable to even try to "trick" the Stake verification system, because you will eventually be caught. I see a lot of advertisements on Discord from people who are advertising false documents to "verify" on Stake. You might buy those documents, thinking that you will pass the verification process and somewhere in the future you might win something huge and when you want to withdraw those funds, Stake might ask for another verification and you will fail. A lot of US and UK players are now hunting around for Level 2 verification documents, because the "Rain" and "Bonus Code" requirements have been increased to Level 2 now. |
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The difference is that, the money is usually in the west, and they are producing a lot more of what people want. Russia and China only makes money based on what the west gives them, west (nations that use swift mainly) do not really require any money from Russia or China, they need "things" from them.
In a case where west finds better energy sources, good alternatives and wheat stocks, they do not need Russia at all, which can be done with clean energy, solar panels, nuclear plants, wind turbines and so forth which would take time but can be done.
Same goes for china, they manufacture things and that is how they make money, move those factories you have to another nation, and china would become poor all over again. All in all, west doesn't need the money these nations have, they need to use them for their resources, and if those nations start to work with another system, west will simply not work with them which would hurt east a lot more.
Well, the West are doing a piss poor effort to replace China as a mass supplier of computer chips. The Chinese efficiency and their discipline and their ability to mass produce electronic components are not equaled by any other country. So let's give credit ..where credit is due. The Oil and Gas that Russia are supplying ... cannot be replaced within the next 5 years, so Europe is going to rely on Russia for at least the next 5 years... and the alternative energy and other sources of Gas are going to be very expensive to replace. |
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A few months ago the different houses and Ministers of the Russian government had opposing views on the legality of Bitcoin and Crypto currencies, but now that Bitcoin and Crypto currencies has benefited them, by enabling them to bypass sanctions... they suddenly agree that Crypto currencies should be legalized. It just shows you how governments shape their opinions on something, if they can profit or benefit from it.... and not if it is beneficial to their citizens. |
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Well, in times of war..... governments control the printing of money and they control the value of the money. Some times they cannot control the value of the money and you get hyperinflation ...where the buying power of your "cash" drop dramatically. (Zimbabwe) So in times like that... people are given the option to safeguard the value of their Fiat currency by converting it into Bitcoin. This will protect it's value, depending on when they have bought it.... and how much liquidity they have. |
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Also, if there are a fork ..like we had with Bitcoin (BTC) ... You will be able to extract the same amount of coins from that "address" as prior to the fork. I made that mistake once with Paper wallets that I swept into a new Electrum wallet and I threw away the paper wallets. (A while after that, I read someone advertised that they extracted a bunch of fork coins from their wallets and I remembered about that, but it was too late.) One of the forked coins was Bitcoin Cash... so I could have used that money to buy more bitcoins.  |
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The nice thing with Bitcoin is the high volatility.... So, if you bought low and there are a huge recovery of say 80% and you sold your coins after the recovery, then you will cover the inflation influence for a few years.  (and still get some interest on the money, if you re-invest it) I made 800%+ profit on some of the coins that I sold when the price went above $60 000, so I will be covered for inflation for a couple of years. People should not be discouraged by the large drop in the price.... they should grab the opportunity to buy more coins and then just wait for the price to recover to beat inflation for years! https://en.wikipedia.org/wiki/List_of_countries_by_inflation_rate |
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So based on the feedback that I received from you guys so far, it seems that most people would prefer that the RTP must be the primary focus of the casino, to improve the gambler experience. There is absolutely no logic in having say 100 promotions a month and sponsoring 10 high profile celebrities and giving your existing clients a piss poor experience at your casino. You spend millions on marketing to get new people to gamble at your site, but you cannot retain them, because most of your budget goes towards marketing and not to increasing the gambling experience. Now, what can we as gamblers do to get the casino operators to give more attention to the gambling experience? |
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I have a split portfolio, where I have 80% of my coins in cold storage for long-term hodling and then 20% revolving coins that are being topped up and used on a daily basis. I basically save up Fiat in a bank account, until the price drop... and then I buy some bitcoins. 80% of the coins I buy, goes to the 80% hodl fund and 20% goes towards daily spending... so I use some of the bitcoins as a currency. (We cannot expect Bitcoin to succeed, if everyone are hoarding bitcoins) |
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One of the casinos where I gamble have gone totally overboard with their marketing campaigns. They are spending millions of dollars on marketing and to fund this, they introduced several projects to increase traffic to their site. Now, I am not going to say which site it is.... but I guess a lot of people play there. The site is great ....but the gambling experience has deteriorated... because the RTP has been nerf'ed to hell and gone to pay for these projects. Now my question is this... do you prefer that a casino offer loads of promotions and campaigns and sponsorships and sacrifice RTP in favor of that.... or will you rather have a decent gambling experience with a better RTP? Let's discuss... |
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Is this increase to level 2 verification going to hurt Stake.com in the future? They dump massive amounts of money into marketing to attract more people to the casino and then they keep on increasing the requirements for promotions and bonuses for their players? There are literally 1000's of US and UK players using the site (based on the chat patterns) and none of them will be able to verify past level 1. Then you have loads of people who do not want to post their personal information on online sites.... so they will also not verify to level 2. How can you exclude a person from promotions and bonuses, when they wager $100 000+ a week.... will it not be better to include those people and void the requirement for level 2? |
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Well, if you have to flee in the middle of the night.... I would send a email to myself with an encrypted Private Key..... You just break it up into little pieces and you use your webmail account. This way, you can access your account in another country and you can restore the wallet or import it into Electrum and you will be good to go. Example : Send this in 3 messages (3FZbgi29cpjq) then (2GjdwV8eyHuJJ) in another and then nkLtktZc5 in the last message... but put it in a lot of text that you copied & pasted from some online article. It will be too risky to take anything with you, because people can be looted or items confiscated on your way to your new destination. So rather just memorize the password to your webmail account and you will be fine. |
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The Signup bonuses is a bunch of crap..... it usually goes with a huge rollover requirement, so even if you get $10 or $5 for FREE, chances are that you will never see that money, because it will simply go back to the site through wagering. I will even avoid sites that give those signup bonuses, because it is just a scam. The same goes for those sites that gives you deposit bonuses, because the same thing happens with that.  I guess it is a good thing if you do not have money and you want to gamble for FREE, but it is exactly the same as you playing Slots in FREE mode... because that money will never be in your hands. |
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Well, I am all for anything that will give a middle finger to these Oil b@stards! I bought a small 125cc motorbike for city commute a while ago, but it is so scary to drive in our city... because people drive like obsessed maniacs... so I gave up on that idea. https://www.ktm.com/en-si/models/naked-bike/ktm-125-duke-2022.html - FUEL CONSUMPTION 2.42 l/100 km It is almost impossible to drive with the small e-scooters on our roads here, because you will die within the first week. (Nobody are even attempting it, even though it is the cheapest way to get from point A to B) The most fuel efficient motorcycles : https://www.spritmonitor.de/en/evaluation/economic_motorcycles.html |
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