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July 12, 2024, 10:48:10 PM *
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4081  Bitcoin / Bitcoin Discussion / Re: Elon Musk and Jack Dorsey agree to talk about bitcoin at an event in July on: July 02, 2021, 08:08:50 AM
Listen, a lot of people are "Butt hurt" over the whole Elon Musk tweets and how it supposedly influenced the Bitcoin price. Just remember that the biggest manipulation of the recent Bitcoin price drop, was due to some Chinese Bitcoin whales and a issue that they had with another Bitcoin whale. (A synchronized Bitcoin dump was orchestrated by them) .....so stop blaming everything on Elon Musk!

In any way, Elon Musk has some very good insight into payment systems with his history with PayPal... so he can give a very good discussion on the topic. (He also has the power to boost Bitcoin as a payment option in his businesses)
4082  Economy / Gambling / Re: FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest on: July 01, 2021, 08:10:35 PM
Running of Faucet was their business model from the very beginning. When bitcoin's price started to rise, it was just really impossible for them to operate only via simple dice and faucet as they had. They couldn't give away normal rewards and people aren't attracted to low rewards, so, they changed their business model. If I amn't mistaken, they started by offering 4% interest on your deposit money and then they started massive development and you'll see the result (but I hope they'll dramatically change their User Interface).
As far as I remember they always had that dice, hi/lo or whatever you want to name it game there. It was always one of the highest house edges in all of crypto world, when they first started with the 5% that was seen as something horrible at the time because many places had 1% and some even tried to drop that as well to get some more customers so when one place showed up and said flat out its 5% house edge everyone went crazy and I have to be honest I didn't think it would survive for too long that way.

However with the free faucet, lottery, rewards and many alike free things people soon realized that the 5% is something worth doing in exchange of so much free stuff given to you and that is how they grew big. Which is why they didn't set out to be just a free faucet, they set out to be something bigger and that is what we are seeing right now, them being so much bigger.

I think the hi/low game with the 5% house edge just became a novelty thing for faucet users to spend their dust on ...and serious gamblers never used it for too long, because as you said... many other Crypto casinos are offering much better odds on their dice games.

The thing is, the average faucet user do not gather enough from the free Satoshi to reach the withdrawal limit or to even have enough to make a withdrawal worth it, so they will rather risk it on the Multiplier to make it worth their effort if they win anything.  Roll Eyes

Some users have invested in a good referral network, so they earn enough to splash some coin on the Multiplier and they could care less if the house edge was 1% or 10%... because they see the passive income from the referral side as free money.  Cheesy
4083  Bitcoin / Development & Technical Discussion / Re: Who is paying very very large fees when not needed and why? on: July 01, 2021, 04:48:44 PM
I can tell you from first hand experience that "mistakes" does happen, because I have paid huge fees, without even noticing. I have swept a Paper wallet with 1 bitcoin once and paid $1000 in fees. The fee estimation on some of these wallets are crazy and you have to double check your fees (convert it to Fiat currency value) to realize how high it is.

Things like this happens when you are in a hurry and you just accept the default fee settings and when you check your balance, you realize that $1000+ was charged in damn fees.  Angry
4084  Bitcoin / Press / Re: [2021-06-23] South Korea seizes crypto assets from wealthy tax dodgers on: July 01, 2021, 01:09:10 PM
Well, there is absolutely nothing wrong with tax authorities confiscating people's Crypto currencies, if they tried to evade taxes. It is actually a positive thing, because most people seem to spread misinformation that Crypto currencies are mostly used for tax evasion and incidents like this can be used as examples that tax evasion might happen.. but authorities can still seize people's coins.. if they did that.

There is not a lot you can do, if you are found guilty of tax evasion and the government gives you the option to go to jail or to give over your Crypto stash.  Roll Eyes  (They can do the math and compare your income from centralized services to that what you reported)
4085  Bitcoin / Bitcoin Discussion / Re: Bitcoin is not just a currency, but represents a new human civilization on: July 01, 2021, 10:49:31 AM
I some time think "Bitcoin" is something more than just a currency too, because I see a bunch of people that are trying to do something that are totally different than the norm that are out there. It does not matter if you are some kind of Libertarian that wants to fight the "system" or if you are just a speculator that are into this for the profit....

The one thing that binds all of these people together is "Bitcoin" and it does not care what your reason is, just as long as you supporting it and wanting this experiment to succeed.  Wink
4086  Economy / Economics / Re: The trend of prices is still upward, any hope for downward? on: June 30, 2021, 06:55:06 PM
Why would these businesses decrease prices, if they have a legitimate excuse to inflate it? The consumer is the real victim of this whole Covid epidemic, because they are the ones that are absorbing the price increases. The merchants and middlemen are still making their profits and they are just pushing the cost onto the consumers.

I can take a bet now that even if this pandemic is done ....prices will not be adjusted to a economy that recovered. (They will keep the prices inflated to make up for their so-called losses during the lockdowns) Roll Eyes
4087  Economy / Gambling / Re: Cloudbet | Bitcoin Casino & Sportsbook | The No.1 Bitcoin Gambling Site on: June 30, 2021, 03:42:01 PM
You know one of the things I like about this casino, is the way it was designed to be accessible for people.. even if you have not registered yet. I introduce a lot of people to sites like this, but people like a "try before you buy" concept, where they can sample the site, before they register.

A lot of other sites force you to register, before you can sample any of their games. (By sample.. I mean, playing for free not with Crypto)  This site is one of my favorites for many years now and on the top of the sites that I recommend to people that are new to Crypto gambling.  Wink
4088  Economy / Gambling discussion / Re: Crypto Gambling Licenses - What they actually mean on: June 30, 2021, 01:40:11 PM
The only time when I actually saw one of these Gambling license entities taking action, was when Stake.com was operating a "Lucky Draw" for a Lamborghini. The license on their website was immediately disabled, until the issue was investigated.

Stake.com was not hosting a lucky draw, where they sold tickets for the Lamborghini... they basically gave tickets away for every $1000 wagered on the site.. so the gambling license was re-enabled and they continued with the giveaway.

I know Brick n Mortar gambling licenses are very legit and those casinos are audited and fined if they break any of the rules.  Wink
4089  Bitcoin / Bitcoin Discussion / Re: China's game plan on: June 30, 2021, 10:09:14 AM
The hash rate drop is just temporary, because the miners are in the process to shutdown and to relocate to other countries. It takes time to setup a new mining farm, so that hashing power will soon be back again...once these new mining farms are operational.  Wink

The Chinese government could care less about losing a few Trillion Dollars, if it meant that they could have control again over all aspects of their citizens and Bitcoin was a threat to that for them. They also are in the process to replace Bitcoin, with a government controlled Digital currency... so they just eliminated Bitcoin as the competition.  Roll Eyes
4090  Economy / Economics / Re: Antivirus Pioneer John McAfee Commits Suicide on: June 29, 2021, 08:33:50 PM
Since I have seen the controversial documentary film - Gringo: The Dangerous Life of John McAfee and all the things he did in Belize.. I expected something bad to happen to him in the future. The guy lived a very full life and he had little boundaries when it came to illegal actions.

It is unfortunate for a person to fly that high and then to crash like this... but "Money" got the better of him and not paying taxes to get more money... was the absolute worst decision he could have ever made.  Roll Eyes
4091  Bitcoin / Project Development / Re: Spacelens – Decentralized eCommerce platform on: June 29, 2021, 05:42:15 PM
I think the strategy of collecting information during the early days of the project and then later removing more and more of these requirements are flawed. First impression is everything...when you are launching an APP or Software that are focused on decentralization.

In light of the Chinese government clamping down on Crypto currencies and the gap in the market opening for more demand for "true" decentralized market places for these people to buy and sell goods... I should seriously reconsider my strategy if I was you. (Go full private or full public... but not something floating inbetween)  Roll Eyes
4092  Economy / Economics / Re: African regulators warn cryptocurrencies may not be legitimate on: June 29, 2021, 01:08:05 PM
The countries in Africa where you see negativity towards Crypto currencies have one thing in common, namely : Dictatorship

You have to remember one thing, Bitcoin and Crypto currencies stand for Freedom and countries with some kind of dictatorship will do everything in their power to retain control over their citizens. The government of these countries will only support a "currency" that are regulated and designed to control people's wealth (through manipulation) and to track it's movement. (What are the citizens doing with their money..... example : Are they donating money to their opposition or are they using their money to buy guns and ammunition.... See where I am going)

Also, if the governments control the Banks .... then they control people's wealth. (They can block people's accounts / Restrict access to cash and worst case scenario ===> confiscate their own people's savings.)

https://www.csmonitor.com/Business/The-Adam-Smith-Institute-Blog/2011/0102/European-nations-begin-seizing-private-pensions

https://www.forbes.com/sites/instituteforjustice/2015/07/17/how-an-obscure-banking-law-let-the-irs-seize-bank-accounts-from-innocent-americans/?sh=5f1eee753613
4093  Bitcoin / Bitcoin Discussion / Re: China might really be out of Bitcoin and the cryptospace on: June 28, 2021, 01:28:42 PM
The Chinese government are doing the rest of the Crypto currency experiment a huge favor. What has all the competition of Bitcoin been complaining about for years now? ===> Chinese dominance over Bitcoin mining!  Now, their own government has taken them out of the scene and they are not a so-called threat anymore.  (One thing less for all these pessimists to bitch about)

Also, most things that are banned... goes underground... like the Chinese citizens use of the Internet and bypassing the "Great Firewall"  Grin  If they ban it, it becomes more desirable and that has the opposite affect on what they actually intended.  Grin Grin
4094  Economy / Gambling / Re: FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest on: June 27, 2021, 03:00:17 PM
I saw an email about the FUN poker tournament recently and I went to the poker site to register and after I did my account was disabled.
I contacted chat and they said it was because of the location I was in (new york).

So I guess no FUN poker for people in New York.

Hopefully when the FUN Casino starts up, it'll be available to me.

I was looking forward to playing some poker and participating in the FUN tournament, but I guess it was not meant to be.

I think the USA is one of the restricted countries for online gambling ...well "unregulated" Online gambling. I know a lot of 3rd party Slot providers like "Pragmatic" block the USA gamblers and some of them are using VPN's to play these games.

The US are very strict when it comes to "online" gambling, because a lot of people use unregulated gambling sites to launder money and the US government do not get their fair share of the taxes. (Also "Capital control" is also a big issue for them)  Roll Eyes
4095  Economy / Gambling / Re: Pragmatic play slots not available in my region on: June 26, 2021, 09:07:00 PM
Why unfair? The 3rd party Slot providers apply region restrictions because some countries do not allow online gambling and if people are allowed to play their games from those regions, then they too would be in trouble.  Roll Eyes

Some people from legal countries go on holiday into countries where those games are restricted and they still access the games with a VPN, by changing their location to their home town.  Wink
4096  Bitcoin / Development & Technical Discussion / Re: Encrypted NFC tag for paper wallet? on: June 26, 2021, 02:45:17 PM
I am curious on how you going to link the NFC tag to a wallet when you want to sweep the Private Key?  I have been looking for a safe method to transfer a Private key from a paper wallet to say... Electrum wallet to sweep my Paper wallets. (It should encrypt the Private key before it is transfered to Electrum and once it hits the Private key field, you should be able to decrypt it, before you apply it)

This way, no Malware would be able to grab the Private key ..because the actual Private key are only visible for a few seconds after you decrypted it.  Wink
4097  Bitcoin / Hardware wallets / Re: Ledger fake device Warning! on: June 26, 2021, 12:23:28 PM
Holy smoke... these attackers are really going out of their way to scam people. Normally an attackers will not spend money to receive money, but these people obviously spend a lot of money to send these "fake" hardware wallets out to people.  Roll Eyes

OP, thank you for this information... I will not use any hardware wallet that was send from some unknown origin and something that I did not request or paid for. ( I have several hardware wallets, but I seldom store large amounts on any of them.. my safest wallet is still my Paper wallets)  Wink
4098  Bitcoin / Bitcoin Discussion / Re: Will other countries adopt Bitcoin as legal tender after El Salvador's recent mo on: June 26, 2021, 09:06:46 AM
I think your statement is not entirely true, because Japan was actually the first country that accepted Bitcoin as a "Currency" and even if some other countries does not accept it as a legal tender, people still buy and sell Bitcoin without their permission. Examples of countries where this is happening is Zimbabwe / Yugoslavia / Venezuela / Hungary ...where they are struggling with hyperinflation.

Most of these people are forced to do this, because they need to protect their wealth against a failing Fiat currency. So yes... other countries will also do this, because more and more countries are struggling economically and hyperinflation is becoming more common now.  Wink
4099  Bitcoin / Bitcoin Discussion / Re: Is the money printing / devaluing dollar argument for buying Bitcoin overrated? on: June 26, 2021, 06:32:20 AM
Is Bitcoin a good store of value in the short-term? Answer : No, not if you buy bitcoins when Bitcoin is in a recovery phase. Is Bitcoin a good store of value in the long-term? Answer : Definitely YES, because some people have made more than 800% profit on their bitcoins that they bought ...when the price hit a new ATH.

This is one of the biggest challenges when you want to use Bitcoin as a currency and when Bitcoin is in a recovery phase, because it can loose almost 50% of it's value.. depending on when you bought.  Wink
4100  Economy / Gambling discussion / Re: How does on-line compete with the VIP experience on: June 25, 2021, 09:17:33 PM
I have to say that the Brick n Mortar casinos look after their VIP's with special gifts and paid accommodation in their Hotel. The Online casino VIP benefits are not very creative and not really worth it. I should think a higher Rakeback for higher ranked VIP's should be standard practice and they should also give gift vouchers as gifts to their VIP customers.

When you wager a few million at a casino, you should be treated as royalty, because that customer could have wagered that money at any other online casino.  Wink
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