The good news is that even in the event mining takes a big hit for some reason, due to the decentralized nature of Bitcoin there'll be next to no issue with having at least one person being able to mine and (hopefully) be able to confirm all the transactions that would be going through.
I doubt there would ever be an issue with this though.
If I understand it right, the network will be vulnerable to attacks if there are less honest nodes in the network. If large miners suddenly stopped mining, then attackers will have a chance to mess up the chain or insert invalid transactions if they have enough power to overcome the remaining miners. As such, the verification is reliable as long as honest nodes control the network, but is more vulnerable if the network is overpowered by an attacker.
-- https://bitcoin.org/bitcoin.pdfHonestly, I do not think large mining farms will quit suddenly since they are heavily invested. But if they do, I think it will be bad for bitcoin. |
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It is doubtful that the hacker will bite this. Even if bitfinex offers a secure channel for them to communicate, they will still risk exposing themselves. Any sound mind will not take that risk, especially if you already have $70 million in your lap.
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Hi Luptin! I am leaving the campaign for now. Thanks for the opportunity you've given me.
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bank as I can do refund if some hacking happen because the bank is responsible for not securing my account/money for any incident regarding loss of money in my account . Bitcoin wallet is secure as long as its offline and you dont have any save password on your pc that can access thru malware or some other viruses.
I also have the same opinion and i am surprised that many people voted for bitcoin wallet,but yes if something bad happens we can go to bank and complain but in bitcoin wallet we dont know where are the owners and they in some other country so we cant do anything rather than just sending them emails. Then set up your own wallet on your on computer. It is not that hard. If you are using online wallet, then you can say that you are.not secure because they can go offline anytime they want and you lose your bitcoin.but if store it on your own computer, you control your own wallet and you are to blame if you.lose it. |
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I am not buying bitcoin but I am working to earn it from different avenues like faucet, signature campaign, alt coin trading and bounties. All my fiat are spent for daily needs so I cannot allocate money to buy bitcoin. Working for it is the only way I can have bitcoins.
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No I did not put all my money into it and I also do not think its smart if you have done this because it can bring you in real trouble if the bitcoin will go down.
I think its also way too risky to do this honestly.
If you are using bitcoin for investment, it is not wise to put all your money in bitcoin or any investment for that matter. It is best to diversify your investment portfolio. But if you are using bitcoin for expenses and to get away from fiat, maybe you can do it. |
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We just have to accept that we can never win in the long run and having that mindset would help us to minimize our bets and loses, do not expect that we can win in the long run as this not our game although we are allowed to play but we have to pay.
Ridiculously, gambling is completely misused by all us for what purpose it was created. If we are going for gambling only to have some entertainment then there will not be any chances to cry out on the event of losing our bets. In order to get some entertainment, we just need very small bet amount, but no gambler listen to that, they are going with very big amount to make very big profit in quick time and losing them and crying finally. Gambling is not just for entertainment. It is also for making money thru bets. If you just want entertainment watch a movie or sports or play a game. Gambling is for those who want to win. But it will not happen versus the house. Play gambling with a person like poker or something like that. The house have their edge and will take your money. But against a person, you play with your skill and luck. |
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I am simply investing in bitcoin because I can see that it is going to give me good results and as well as good future if I will be consistent in it.
And I do believe that bitcoin is going to be one of the way that crypto currency will be used by almost all countries very soon.
So I am taking advantage the early days of it by investing with it.
You are investing in the right reason because you see the value of bitcoin in the future. Others are just investing because of profit and the money. That is why some fail in investment. It may not be used in all countriesbin the future but I think bitcoin will be very valuable. |
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Quitting gambling is not that easy if you are already addicted to it. Even you keep telling yourself to quit , stop i am sure that you will keep on gambling specially if you do not have other past time. The only solution for me to prevent gambling step by step is by finding another hobbies or past time that will make sure that will eat a lot of your time beside gambling. Or if you really cant quit gambling just gamble small amount just to have fun.
Yes i am with you that quitting gambling is not easy for those who are used to playing gambling games with their friends or peers in a casino. but to those who are playing online and is not addicted to gambling, they can easily stop gambling and even forget to play it when they have their time consumed by worthwhile activities. That's true, if you are really addicted in gambling it is not easy for you to stay away in gambling as easy as that, because gambling is very serious thing if you get addicted. Because gambling is very entertaining for me, beginners are the once who are getting addicted if they cannot control themselves from betting. As long as we enjoy gambling then there is no reason to quit it, we should enjoy it as it could give us some quality time having fun although we are spending, but when time comes that we are not in our mind anymore because we want to chase our loses maybe that is not a good sign anymore and we should automatically quit by all means. Even if we are enjoying gambling, there are still reasons to quit. Gambling is not a healthy activity. All the time spent sitting in front of a computer without much activity. It will destroy your body. And you are also losing money so that is another negative effect. |
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As long as you keep track of your earnings and your expenditure, you should not have much difficulty in saving. Try to keep a certain ratio between the two, like 40% of earnings go to saving and rest 60% to expenses. Emergencies may arise then you may need to spend more. But every month try to maintain it and you should do fine.
My monthly salary goes like this: 50% - savings 20% - city room rent/electricity/water 12% - pocket money 10% - mom's allowance 8% - apartment rent at home It really feels so good when you have a fixed monthly budget. Any savings or extra income is a bonus. This is very unrealistic and you forgot to include food and transportation allowance. Maybe if I am single and I am earning $5K a month, this budget is feasible. But I do not think anyone here is earning that much money. Maybe a handful, but most of us are living on minimum income. 10% saving is enough for me. The rest can go to any expenses I have. |
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I would surely do the same thing too since money is so hard to earn this days you would make such hard work, time and efforts to attain it. If i would be rich then i wont mind to waste my money for leisure times since i could do other things aside from gambling.
That's true, if I were become rich I would surely use my money in wise way and not just to waste them in gambling because I have no assurance in gambling since gambling is more on luck. Thats correct. Setting up an new business or investing the money is a proper manner is much better than wasting it on a casino where only luck is predominant. One should never feel lucky if they get rich rather be more cautious about their money and spend it wisely. Yeah, and for me rich people don't just waste money that is no purpose, they value each centavo they have in their pocket. Because for me, rich people become rich because they know how to handle money wisely. Well i do not agree with you that rich people doesnt need to gamble or i would even say that gambling is only for the richer peoples not for the poor ones.Becuase richer people can afford to loose money so they can gamble but its definitely not for poor ones. Maybe they need gambling, maybe not. But I think, rich people will not waste their hard earned money into gambling. Their money and time is too valuable to be spent into gambling. They would rather invest their time and money into businesses that guarantees profit. Or they would rather play golf with business partners than play in a casino. |
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Of course, that is our main concern when we are joining an ICO because there are a lot of ICO here that promises a good potential on their project so as an investor it is our responsibility to check and study of a certain ICO to make our investment profitable.
How serious you are in doing checking and study the developments of a coin placed on ICO, still it's not a factor to consider that you will become succesful in those coins. In just one click of those developer, they can shut down the coins easily after promising developments. The thing here is, take the risk to those ICO's since in the first place, you will get those at cheap prices. I also take the risk on ICO's because they are very cheap. If they live up to their promises, even a small investment will have a very great profit. I just make sure that I only put the minimal amount possible so even if it turns out bad, I only lose small amount of bitcoin. That amount that I will not almost feel the lost. |
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Depends what i play, if i play dice game my bet is usually very small, like 0.00001 BTC only, and if i play sport bets i bet 0.01 and sometimes even more, or less
That small amount in dice is good if you are just passing time and nothing better to do. But if you are targeting to get something or have some profit in the end of the game, I do not think you will have much. I think it is better to just to go all-in at once and collect your profit if you win. If you lose, better luck next time. this way you do not waste too much time gambling. |
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Yes it can be considered as sickness but it can be cured also like just save your money in cold wallet? and forget to touch that wallet for a month and then withdraw to your local bank when you need it?
And yes, I agrees with OP that we win in first but when we get greedy we get aggressive we lost all. Like happened with me i won a few bitcoins then i get greedy i just lost that all bitcoins in 15 seconds. Better stay away from gambling.
I do not think you can cure gambling addiction just by keeping away your money or resources. As long as you are the one who controls the location and access of your money, you will be prone to cheat your own protocol and continue to gamble. It takes more than that to cure gambling addiction specially if it has is a long time addiction. And probably you cannot cure yourself, you need your friends and a professional to help you get out of gambling. Well you know i cured myself when i lost 3+ bitcoin in just a day i just lost my head. So i just stopped gambling i got out from bitcoin and came back after 5-6 months. From then if i want to gamble i just gamble small amounts like 0.01-0.02 just for fun. When a person loses money in gambling more then he can afford then i guess he will stop. The best way is getting yourself busy in something like in the company of friends? When i get free i get some lectures online or in some organization. Your experience is different. You did not keep away your money, you lost it in gambling. What happened to you is you got traumatized by that large sum of money loss. Good thing you quit when you lose. Others would have fight, and gamble more to try and win back their loss. I hope you can control your gambling habit now and avoid to lose large sum of money. |
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Thats weird I have never heard of a gambling site / game that has 0% house
edge. I guess their form of revenue would be advertisements then? Just seems odd
and would be afraid to deposit or win to much that they wouldn't pay.
That is what I know too. I know they would go for a lesser house edge, but having completely no edge against gamblers, that will be suicide for their business. I would definitely have to try it if there is really a gambling site that do not have house edge. I will just risk small amount, if they pay, then well and good. If not, I know that is just an illusion and no gambling site will really exist without house edge. |
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Getting rich is not an easy job. There is no magical formulation that can turn you into a millionaire.
You must work hard and research properly before taking any step. However there are many ways to earn from this forum, even if they are micro-jobs. In real life I suggest you to get a job or start a business with a proper goal and dedication along with a clear mindset.
in the first place, people shouldn't be focusing at getting rich. everything must be built up with hard work as you also said, and a certain risk in life. a lot people here think if they buy 1 or 2 coins and hold it for a certain number of years, that they will become rich automatically. it doesn't work like that. these people are living in a fantasy world with their unrealistic expectations. I agree with you that we should not be delusional on our strategies in getting rich. It is not enough just to own some btc and sit on it and hope that you will be rich someday. It requires a lot of hard work to become one. Focusing on something is a good motivation. If you want to be rich, then focus on it so all you do, your efforts will be directed on reaching that goal, to be rich. I do not agree that we should not focus on it. If you want it, make it a goal and focus on it. That will be your driving factor. |
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I would invest rather than spend the money and definitely the time with gambling. As they say: Time is more valuable than gold or jewels because you can never get that back if you lose it.  Yes you are right,in gambling we dont only loose the money we loose our precious time as well.I am the one who doing gambling alot in the past but now i have learnt and now think just to do investement and not to waste time and money on the gambling. Good thing you still got out of gambling even if you are gambling a lot in the past. Good thing you did not get addicted to it. It is really better to do investment than gambling. Or if you want, you can also try trading so you can still feel the same excitement you get from gambling but have more control of your money and profit. |
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I am able to manage to earn from both of them very comfortably, so I don't think there is any point in quitting my job and choosing only single source of income, its always good to have multiple sources to earn money.
Absolutely agreed, having some sources of income is good for our financial life. But we need to make sure that we can manage all of it very well, otherwise we may lose all the sources if we cant manage it. Other things, we also should think that we are not forcing ourselves to earn much money that may make us like a robot that work without a rest. Big income is good but we also need more than just money in this world. Earning more money is good but we should also manage to have good balance in professional and social life as both are really important as you also need to spare time for your friends and family. no need to worry about social life, you can still do that every weekend. a great income it really is very good. but the most important thing is health. because many people ignore their health for the sake of getting lots of money from several sources. so in the end if you are sick and that money just to pay for the hospital and even if you die, you can't enjoy the results. so I think sometimes work on both is very tiring, except you just invest in bitcoin and not try productive it is very well done. Everything should be done in moderation and balance. If you focus too much on work and neglect you health or your social life, it will have a consequences. The same if you focus too much on social life and not on your work. It is not bad to have multiple jobs as long as you do not neglect other aspects of your life. |
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Yes it can be considered as sickness but it can be cured also like just save your money in cold wallet? and forget to touch that wallet for a month and then withdraw to your local bank when you need it?
And yes, I agrees with OP that we win in first but when we get greedy we get aggressive we lost all. Like happened with me i won a few bitcoins then i get greedy i just lost that all bitcoins in 15 seconds. Better stay away from gambling.
I do not think you can cure gambling addiction just by keeping away your money or resources. As long as you are the one who controls the location and access of your money, you will be prone to cheat your own protocol and continue to gamble. It takes more than that to cure gambling addiction specially if it has is a long time addiction. And probably you cannot cure yourself, you need your friends and a professional to help you get out of gambling. |
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A lot of people here gamble to become rich, but some do it for fun.
The question is, if you wake up tomorrow with 50 million dollars, would you still gamble for fun, or would you forget about gambling and do other stuff? Personally I think I would still gamble. I do it now, and I know I realistically will never get rich off gambling, because I barely do it and I don't risk much money, just for fun sometimes, to test my luck.
So if I had a lot of money, I would do bigger gambles, but they would still enter in the "for fun" amount (for the new 50 million standard). For example, gambling 1K a month would be irrelevant, and winning with a 1K bet can give you big rewards if you are lucky. It would still be fun, in fact more fun, and it would be as non risky as it is now, in terms of going financially bankrupt.
If i have a 50 million dollars, i will open my own casino. Aside from that, i would keep some money in the bank. I will still play gamble to try my luck with the money that is left with me. If you already own a casino, then there is no problem if you gamble once in a while. Win or lose, your money will either go to your casino or directly to you. This is in the right direction. If you are a gambler and you become rich, it is just natural to own your own casino. Make your habit your own business. |
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