You're either deliberately playing thick or you are genuinely dumb. How can one profit from a pre-planned pump and dump, please explain? Let me draw it out for you.
If I buy 100000000000 MakuCoins over a week or whatever, and announce "big pump" today, and people come in to buy buy buy because "it's going sky high"...only to find themselves gutted when I drop my 1000000000000000000000 MakuCoins on them...
How does one profit from that? I would love to hear your genius plan.
If you're going to buy huge amounts of coins before the pump starts, it's already going to have an effect on the price before the pump starts. Which would likely trigger more people to buy, even before the pump starts. If it doesn't, the dumping of the coins wouldn't have much of an effect either. And you could still make money if you less your coins before eveyone else does. I'm not saying that it's a good idea to participate in pump&dumps, just that not everyone will come out as a loser. |
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After i check their services, it's not only bitcoin transaction fees, but also their own exchange fee. If you don't like their high fees, then try other exchange which have lower fees.
No, it's not. Their service fee is factored in their exchange rates.
The 0.0021 btc fee is flat. They set it way too high, not to mention that it should be dynamic (ideally with priority options to choose by user). It's all explained in their FAQs: https://shapeshift.zendesk.com/hc/en-us/articles/115000418010-Why-is-the-BTC-miner-fee-so-high-...
To avoid this, ShapeShift uses a flat miner fee of 0.0021 BTC for every Bitcoin transaction we facilitate regardless of the size of the transaction. This relatively high miner fee ensures that our users are able to receive their funds as quickly as possible without experiencing delays due to network congestion.
... Well, that explains it, I can see how it would be less work for them to just set the fee that high, but it's really a fail in terms of usability. It woudl be a far better option to just implement dynamic fees with choices for the user in terms of transaction fees. Perhaps it'll be something that they'll add in the future. |
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Well, it is fair to be skeptical about all that. I agree casinos can pull different tricks to scam the users. So each individual should be responsible about researching properly and making sure he isn't fooled. If you are worried about this, then physical casinos are where you should be heading.
Brick and mortar casinos are not necessarily 100% fair too. Maybe in the biggest licensed casinos you will find fair games, but I heard that in the smaller local casinos, house can cheat you pretty hard. For example, they can install magnets in a roulette wheel and manipulate the outcome of the game. More info: https://www.roulettephysics.com/casino-roulette-wheel-magnets/Yup , that is a risk unfortunately. Some games are possible to rig for a casino, and some are not. At the end its upto you as a player to figure that out for yourself. But in general, a physical casino has a lesser probability to be scamming than online casinos. And how would you be able to figure out if a casino is scamming? Not eveyone is able to gather data and calculate whether with RNG is fair or not... Online casino's have regulations as well, so I wouldn't automatically say that you're more prone to being scammed in a physical casino than in a regulated online one. |
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I don't think so. The price of Bitcoin is still travelling upwards. It is simply the fact that Litecoin and a few other altcoins have gained popularity. This means that money and interest I'd going into the crypto industry, which will indirectly benefit Bitcoin. A competition of coins is good.
Bitcoin price isn't everything, trading volume is also a big factor in determining succes. Just look the the current trading volumes and prices of other altcoins in the top 10 on coinmarketcap and compare it to, say, 2 years ago. There are more coins with a value of around $100 per coin and 3 other coins that have a marketcap of over 1 billion dollars! |
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Almost every site I know that specialises in crypto-gambling has very low minimum bets... I still refer to them as microbetting. Even if BTC were to hit $10,000... 100 satoshi would be 1 cent - still a hundred times bigger than the single satoshi bets most gambling sites allow.
So yes, caution is necessary if you bought the coin with fiat but otherwise, no difference in the amount of bitcoin you've always been able to bet with.
I don't know, I still see a lot of Bitcoin gambling websites that have pretty high minimum bets, usually ones that offer standard gambling software. Minimum bets are usually higher than in traditional casino's with these high Bitcoin prices. |
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Having a crash liek that on such a big trading platform is pretty much unacceptable to me, I couldn't close a couple of trades and have made some small losses because of that.
I couldn't imagine what I'd do if it happened with some really big amounts of BTC.
Has Bittrex ever had issues like this? I thought they were somewhat similar in size (number of users)?
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batcpredictions.com
Hey guys, I created an app that lets you trade bitcoin using fake "money". It's great for testing out trading strategies or trying out trading without taking any real financial risk. The url above (remove the a) should lead you to the app where you can sign up and try it out. I would for people to try it and give feedback! I just put it online today and there is still work to be done as far as adding new features, but it should be fully functional.
In the future it will support more than just bitcoin. I'd like to add stocks as well, and maybe commodities and/or forex.
Let me know what you guys think!
edit: You need to remove the a from the url above. I'm not sure why but it won't let me post the actual domain name.
The point is to ONLY trade demo accounts, i.e. not to trade real money ever? Then I have one suggestion for you; make it into a game! Perhaps you could have a jackpot for weekly winners who have the best profits over that week. Hey man, thanks for the tip! That thought had occurred to me as well and that is something I am definitely considering as a feature to implement in the future. I might have to look into the legality of that though because it might be considered gambling and I don't know what laws and regulations would apply. If people can't cash anything out, I don't see how it could even be considered gambling. You could start out with something that's pretty simple, just a leaderboard for example. Adding a jackpot would probably make it gambling though, so I wouldn't even bother with that for now. |
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I have been seeing Bitcoins' price rising with a stability in its growth, but due to the higher mining fee that is being levied on transactions these days, big businesses are now moving their funds towards alts and taking advantage with their least fees as well as shaping a completely new economy in the trends of altcoin markets. Do you think this may harm Bitcoin's dignity and open up a chance in real for alts to rise?
Confirmation time and transaction fees can be a problem for bitcoin businesses,but altcoin prices are unstable and using altcoins is more risky. No altcoin is better than bitcoin in terms of stability and safety. Yes, bitcoin is much safer and safer. Over time, it will improve all the problematic functions of making transactions. I wouldn't say that Bitcoin is safer than a lot of the altcoins out there. There are quite a few altcoins that are based on Bitcoin and they're not really less safe than Bitcoin itself. Some altcoins also have pretty much a head start on Bitcoin when it comes to transaction speed & cost, Bitcoin might be able to fix its problems but some altcoins are already way ahead. |
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I've also been getting some notifications of people trying to access my account on Crypto-games via the password recovery...
Just changed my passwords to be sure and will enable 2FA.
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I'm not 100% in Bitcoin, not even 100% in crypto in general. It's just too volatile at the moment to be used as storage of value, even if the prices are just going up mostly.
Plus I still rely on my bankaccount for day to day transactions.
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I don't see a problem. Bitcoin is not going to be used to buy lattes, its more like the crypto version of holding gold. What we need is a good altcoin to take over the function of currency for daily use whether its ETH, XEM, or some other one. Stop making small transactions and use it as a store of value instead.
I actually completely agree with this statement, but I question anyone who claims bitcoin was never intended to be an every day digital currency. I think that's exactly what the intentions were. Just my opinion though. There are better coins for that tbh. I wonder how long it will take for merchants to change from Bitcoin to another cryptocurrency with lower fees. We've seen some big exchanges add certain altcoins alongside Bitcoin, it's only a matter of time before merchants do the same. But we'll see... |
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I don't do day trading, rather long term investment, mostly with altcoins.
My daily ROI for coins like Litecoin and Dassh have been around 10% per day, without any effort on my part.
Luckily I haven't gotten any losses yet, but that might change at any time, I'm out of Dash now, so once that ship sinks, I won't have lost anything.
Still holding onto LTC though.
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If i saw some like promotions or contest that have big price this will make me comeback to play again then if i deposit now that's the time that i should play now just to get and from the contest until i lose and lose then i would deposit again just to get the big price of the contest like number hunt
Promotions are mostly designed to lure gambler to come and take away their money. Contest and promotions are pretty much different. Sometimes contest and promotions could be EV+ however most of the time promotions wont. If you are a site owner then you will know this stuff better, you wont literally give your money away to gambler Well, you might want to give away a little bit of money to the gambler, just so he returns if he made a profit with those funds. You'd be surprised how many people would fall for that. First he might have won $20 through a promotion and a week later he's depositing $50  |
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Being rich with bitcoin is not a silly pipedream anymore as the price continues to soar and break all time highs. If you have been holding even 10 bitcoins when the price was still at $200, you would have made over six times that amount right now. That kind of growth is hard to come by in any other kind of investment, even the ones with the highest risks involved.
Along with the growth of the bitcoin price, everything else is growing. So it will not be very good to get rich, you can only earn a little. That's a weird statement... First of all, not everything else is growing, some, if not most traditional fiat currencies are losing value. Other stocks or commodities that are growing are just not growing as fast as bitcoin, so that's something you left out. Even an average person could still get rich with Bitcoin, just invest 10 to 50k and sell after another 500$ price increase. I doubt that it would take more than a year. |
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I completely missed that boat :-/
I'm sure that there will be other opportunities like this on the forum, but I think that most people would have a hard time not selling if they see the value doubling or tripling.
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I think you might be better off by investing some coins in a trusted casino or something like that.
It would be much safer and you'd get somewhat similar returns without the risks of them not paying you back.
Another option would be to lend to Poloniex, but the returns aren't that great.
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I guess the greedy people behind this coin think they can make more money with the release and selling more coins. It's hard to believe that this coin having good volume. That's I've never choose a decentralized coin.
There's a little flaw in your assessment, how would they be making more money by releasing and selling more coins? Prices would be going down... And you'd never choose a decentralized coin? Uhm, you're on the Bitcoin forum... Did you mean centralized? |
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It certainly is possible, I've found an exploit on a traditional gambling site a while back. The exploit basically allowed you to double or tripple your payout and payouts were processed automatically on specific days. The entire site was built in Flash, so that probably had something to do with it :p I did report the exploit and was given some balance on the website |
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Yes, I've never had the idea of like: "Hmmmm lets just read the source code etc.". I've never thought about it.
So why should I care if it was closed? It would be the same for me.
then you haven't really understood what open source means. it is not about you and i being able to understand the code, it is about being OPEN and available to ANYONE to see. that means if there is anything bad going on in the code, it will be found and caught at some point by someone. and you will hear about it. also that means if there is some bug or simply some improvement needed in some part of that code, it can be done easily and the best way possible. also another thing about most open source projects (bitcoin included) is their license. being MIT license means it doesn't belong to anyone, nobody can patent it and anyone can use the code, change it and come up with a new idea (aka altcoins). I know what opensource is and means. But still, my grandfather won't know and he doesn't care if it's opensource of not. As a regular consumer it doesn't really matter. No one can claim ownership of it, is nice and stuff. But if a company would make the same thing as BTC. Exactly the same but then not opensource, i would still use it. So will all the people who do not know what opensource means. so you want to tell me that if bitcoin was closed source and was created by a private company, you would have used bitcoin and put your money in it (we are talking about all your private finances and all the transactions you make, how much money you have and how you use it) and then each time you sent a transaction you never cared about the "data" you send out and where it goes and what it is? and don't care that that "data" can contain all your private information in it such as the things i said in parenthesis and your IP address,...? Couldn't care less. Aslong as it's an honest company who doesn't sell my information I don't care. I mean, living without a bank account or something like that. Is almost impossible, but I (and a lot of people) still use bank accounts. Same as with Bitcoins, in my opinion. You'd be surprised how many companies do sell your information, especially if they're offering a service 'for free'. I'm not sure if something like Bitcoin would even work if it was closed source? How could you even trust it if everything was closed source. Even if it was shared-source, I'm having a hard time believing that many people would be into it. There certainly wouldn't be as much altcoins as there are now. |
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