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4681  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Negative House Edge Crypto Casino on: November 05, 2020, 10:57:18 AM
I have read tons of threads regarding this notion of doing a casino with a Negative House Edge, and of course it makes sense NOT to create one, right? Unless you wanted to give away free crypto to users, in the long run the house would be losing crypto coins.

Now, I really6 thought about this for more than a year now and I think I found the only way that a Negative House Edge Crypto Casino can work.

So, I made the first casino with negative house edge and I was wondering what you guys thought.

Obviously, the goal is to promote the use of the Phreess token, and for people to earn Phreess in the long run playing on the casino.
I haven't heard of it, and I don't see how this can work for a casino, but it's good that you're trying out something new. However, I think it would be better to have zero house edge on the bets, but a withdrawal fee that compensates for that. Plus a faucet or a welcome bonus. And honestly, I don't think anything can work to attract people to a new token that's not even on any exchanges yet. The era of altcoins is over, and there are always tokens that never even make it to exchanges. So depositing any money to the website is very risky because then you'll withdraw something potentially useless from it.
4682  Economy / Gambling discussion / Re: A gambler living in England makes a $5M bet on Trump on: November 05, 2020, 10:49:08 AM
Poor guy, that bet will probably hunt his days and nights! If the game was rigged it will hunt him even more: losing $5M due to some fraud must be so painful. But if he can bet so much money on a single bet he must have way more than that.

For sure his trembling out of his pants now since imagine how big the losses he got for the result nearly ending up. And for sure he's started to cry for believing that he can earn millions for believing that trump will win. But it's still a good try for him since imagine also if he win for sure a party will go on but sadly that's not gonna happen today.

I hope it does not hunt him, what if he is so rich like Floyd Mayweather who can put millions in his bet and then just forget it as he can make easy money. We never know what the financial capacity of each bettors but a better risking this huge money, we know he has the capacity.
It's true. 5 million dollars is a huge amount of money for most people, but I hope it's not an "all-in" bet for the person who chose Trump. After all, Trump was losing according to the polls prior to the election, and Trump is clearly losing the elections now (even though hypothetically there's still a chance of Trump winning, but this chance is getting smaller and smaller). Maybe this person made the bet for hype and perhaps to show others how much he believed in Trump (to encourage US citizens to vote for Trump). How big is the bet is a relative question, and there are definitely people for whom $5 million is not a big deal.
4683  Economy / Gambling discussion / Re: A gambler living in England makes a $5M bet on Trump on: November 04, 2020, 04:18:18 PM
This has been considered the biggest political bet ever.

Quote
A British gambler has reportedly staked $5 million on President Trump winning Tuesday’s election — a wager believed to be the largest ever political bet.

The former banker used private bookmakers registered on the Caribbean island Curacao for the bet at odds of 37/20 — meaning he could get a $15 million payout, sources told The Sun.

In a few more hours, we will be announced the results of the presidential race. First, there was a $1M bet, now, $5M has been made. Politics aside, I love to see how people enjoy their happiness with gambling. No matter what the aspect is, they can always make an entertaining bet. Do our cryptocurrency gambling sites have a big wager like this?

Source: British gambler bets $5M on Trump in biggest-ever political wager
Not happening. First of all, I think that Biden is going to win, so I'm sorry that such a huge bet is going to be wasted. However, I admit that it's still too early to say. Which brings me to the second point, related to the phrase I marked in bold. In the US, the elections don't work like they do in almost all other countries. A candidate can lose the popular vote, but become the President because of the electoral college system. And thus in many countries it's fairly certain who's going to be the President based on the exit polls, for instance (this is the case in my country), because these can predict with high accuracy who wins the popular vote. But it's different in the US, and the votes gotta be counted, and the electorals gotta vote before you can really know. Not to mention that the win is sometimes by a very low margin. Adding to this the fact that more people than ever voted by mail this year, and their votes will take more time to be counted, I think it's not realistic that the results will be available today or tomorrow. It's more like a matter of a week or two, realistically speaking.
I also placed a bet on the elections (not a big one), and I'm also wondering when will the bet be settled (based on the total vote count or the likeliest winner at some point).
4684  Economy / Gambling discussion / Re: Why most of us are losing money in sports betting? on: November 04, 2020, 04:11:55 PM
I believe that most of us are losing money in sports betting, but I'd like to know based on what you read and your experience (if you have) the reasons why we are losing. Personally, I've been gambling for years, I'm just an ordinary gambler who can't be too serious with gambling, but I can't deny that I have been losing money more than I win.

Share some tips to win or to minimize losing?
______

This thread is open for the winners and losers.
I'm winning some bets and losing others, but mostly losing on average, even though not by a high margin. I think that it's at least partially related to the fact that I'm not a pro in sports. However, I've seen people who seem good at sports, but often have these losing streaks (but maybe their overall balance is actually positive, I don't know), so I'm not sure that's it. I guess one is almost bound to lose because there are many unpredictable outcomes in sports. But I also think that if a person really knows the sport and also has betting skills and strategies, it's possible to win more often than lose, thus earning money this way.
4685  Bitcoin / Bitcoin Discussion / Re: john mcAfee pumps crypto from prison, denies tax fraud and murder on: November 04, 2020, 03:42:33 PM
John McAfee has shared many details about his life in Spanish prison and chances of extradition to the U.S. He additionally claims to have regained control of his ghost cryptocurrency project.
John McAfee is in Spanish prison awaiting his extradition trial after he was arrested in Spain.
McAfee has been tweeting regularly from prison, he tweeted: “You want to know what prison is like. It’s like a Motel 6 run by Hitler’s SS,” "I am content in here. I have friends. The food is good. All is well. Know that if I hang myself, a la Epstein, it will be no fault of mine … Prison is an adventure to say the least."

continue to read: https://news.bitcoin.com/john-mcafee-crypto-prison-tax-fraud-murder/
I'm glad that such a big guy is finally incarcerated. In the US, I think he has a good chance of avoiding prison because he's quite influential and resourceful. But this experience still might make him more careful and deprive him of some money. I don't care if McAfee is pumping cryptos or calling Bitcoin worthless, his opinion doesn't matter. Hopefully, now that he's imprisoned for fraud, more people will stop listening to him and taking this guy seriously. Now we need Craig Wright to face the same thing for fraud and spreading false information.
4686  Economy / Gambling discussion / Re: Multi bets vs single bets on: November 04, 2020, 03:14:21 PM
However, it does not feel equal because one event going wrong out of many, and you lose the whole multi bet, whereas with single bets it's easier to distribute the money and win some while lose others.
Another good thing about single bets is that you can also replicate a multi bet by rolling over the initial bet and winnings from one match to the next until the last leg. Also you get better payouts if you suddenly back out on a match because if you try to opt for the cash out option on your multi bet there's always noticeable 5-10% cut.
I've never opted out and don't really intend to, so I didn't know this one. But I get it that it's important because it allows to minimize the risk if that's the strategy a person chooses. In the meantime, two thirds seem to prefer single bets according to the poll results.
Multiple bet odds is way higher than the sum of 2 single bets. So if you are confident on the teams that you want then it's worth it a try unless you are focus on one sports and one team only. Most of us have a different favorite multiple sports and team so multiple bets is preferably for those person that has a multiple team and sports favorite.

The risk is a bit neglible compared on the possible amount that you will win considering that you will still bet a 2 singles.  Grin
Yeah, I also wanted to point out that multi bets allow big wins. For instance, I've seen a couple of wins on odds like 1300, and it's would be next to impossible to find a match and place a single bet, taking this risk. So multi bets open new possibilities of winning way more that the bet amount, while also betting not on the no-name teams and events (the odds get crazy because of the combination, but every single outcome might be pretty reasonable).
4687  Bitcoin / Bitcoin Discussion / Re: What do you think is the biggest disadvantage of bitcoin? on: November 04, 2020, 02:53:45 PM
Bitcoin has a number of disadvantages. Let me list out a few even though everyone knows about it,

1. High fees - yes, it's not a regular problem but it keeps on popping up
2. Confirmation time - on an average, a bitcoin transaction takes around 30 minutes to get 3 confirmations. Usually  1 confirmation is fine but majority of the websites look for 3 confirmation before they can accept it as a valid payment
3. Psuedo anonymous - many see it as a benefit of using bitcoin but that's the only reason why bitcoin is increasingly being used by illegal miscreants or terrorists. That's worrying - look at Europe now!

Bitcoin was never an ideal medium of exchange, rather it was always an investment or an avenue to hide income for majority of us!
I agree with the first two points, but I think they can be covered by one major issue as its consequences: scalability. Bitcoin cannot process enough transactions per second, which leads to higher fees if people want their transactions to be confirmed faster and longer waits because there are many transactions awaiting confirmation. And it's indeed a big problem if we're talking about the prospects of global adoption because even nowadays the fees are sometimes very significant, and we're very far from Bitcoin usage being widely spread. As for #3, I think it offers a good balance between complete anonymity and ID verification. And I don't take this argument seriously because fiat is used for terrorism a lot, and yet we use it nevertheless.
4688  Bitcoin / Bitcoin Discussion / Re: Something still has to be done about transaction fees! on: November 04, 2020, 02:40:15 PM
What do you mean by Lightning is not inspiring?

I think it's extremely useful.

I've probably done 1000 transactions on Lightning, maybe 100 on-chain.

That's a lot of saved Sats in fees.

Plus it's pretty private.

The LN has been around for a while, and I don't see any progress with its adoption. It's not user-friendly enough for the majority of users to adopt it. And among those who wouldn't face technical difficulties with the adoption, there's a group of people who won't adopt it anyway due to centralization or due to Bitcoin maximalism. I used to have high hopes for the LN, but it seems that it's not trying to become more accessible or to convince those who don't want to use it. And if people don't accept the solution, it does not really matter if this solution could hypothetically solve the issue.
4689  Bitcoin / Bitcoin Discussion / Re: Bitcoin Energy Consumption Myths on: November 01, 2020, 11:52:18 AM
I think that high energy consumption is not something that can be denied, but I don't think there's consensus on how much of that electricity comes from clean energy. In many cases I agree with the 'reduce' principle. Reducing the amount of trash, cars, factories, meat and other things make sense to me. However, I don't think this can reasonably apply to electricity. With technological development and accessibility, humanity will consume more and more energy. So we should focus on making it clean and not overusing it when it's absolutely useless (like when the lights are on in every room, but you're actually sitting only in one of them), but not on blaming some things altogether because they require a lot of energy.
4690  Economy / Gambling discussion / Re: Multi bets vs single bets on: November 01, 2020, 11:29:30 AM
Multibets is the best option if we have a small bankroll, with them, we can win big multipliers. But if our bankroll is big then we can place big bets to low odds to have more chance to win, because if we choose 3 games with low odds then there is a probability for one of them to lose.
Interesting opinion, I did not think of it this way. I did see a couple of huge wins with small bet amounts on crazy odds on Sportsbet.io. Losing a small bankroll is not a big deal, and if the bet amount is small and the single bet odds are low, the win is insignificant. That being said, if what matters is the odds, than it's irrelevant if it's a multi or a single bet (it can be a single 3.5 bet or a multi 3.5 bet, and in that case the risk would be equal). However, it does not feel equal because one event going wrong out of many, and you lose the whole multi bet, whereas with single bets it's easier to distribute the money and win some while lose others.
4691  Bitcoin / Bitcoin Discussion / Re: While we're on Halloween, Remember this date! on: November 01, 2020, 11:13:54 AM
I must agree with @ChrisBarth here. It is unlikely that holidays have been the impediment for immediate launch of the Bitcoin network. This wasn't a company or a short-term project, but a VISION to change the way we trade.

Nice drawing, though. I'm glad to see people remembering this day as more than the Halloween. I'm guilty of not remembering this day, but I might re-read the whitepaper to celebrate.  Grin
Holidays are just a good time to launch something because people have more time they can dedicate to new things. They are surfing the Internet, and they aren't too busy, so I guess it's easier to get their attention at a time like this. At least, I think that the beginning of January could be intentional. As for Halloween, it could be a coincidence and it doesn't make much sense in terms to getting attention because it's just one day, but this could be symbolic. Like the day we remind ourselves of the atrocities the banks are doing and especially those they did in 2008, and we can see a hypothetical solution to the issue.
4692  Bitcoin / Bitcoin Discussion / Re: American election is nothing to do with BTC on: November 01, 2020, 10:53:51 AM
One of the famous analyst say American election is nothing to do with BTC. Well that's the spirit I would say as top rated crypto currency may not be impacted whoever wins the American election, also he says the value may go up till the end of the year. Is BTC still giving opportunity for investment? What's your thought guys.

https://www.businessinsider.in/stock-market/news/bitcoin-doesnt-care-who-wins-the-us-election-it-will-rise-in-value-regardless-of-the-outcome-a-cryptocurrency-fund-chief-says/articleshow/78968900.cms
Well, I don't know what's driving the price up so much, but Bitcoin costs quite a lot right now, and the election is going to be very soon. I don't know if it's because of the US election or not, but it seems that Bitcoin could rise due to FOMO. As for the US Bitcoin policy, I don't think it will change if Biden wins the elections. Both Trump and Biden are quite old, rich and people who benefited from the traditional system. So I don't think the election is going to change anything in practice, but the hype or uncertainty surrounding it can push the price back and forth.
4693  Economy / Gambling discussion / Re: Sportsbet.io's English Premier League Football Pool Discussion Thread on: November 01, 2020, 10:22:26 AM
After good progress last week, so so progress this week. I mean 3/4 correct outcomes are okay but not even 1 was an exact score, all were "close" and I still dropped 3 positions to 35;)

Anyone think Everton will lose today? They lost Digne and Richarlison to red cards suspension, enough to throw them off balance?
This round is looking good for me, but the previous one was terrible. In round 7 I have 1 result, 1 exact and 2 close scores! But the tricky matches are ahead, so I don't think my luck will persist. As for Newcastle vs Everton, I stand with the majority (based on the pool picks data on Superbru) that Everton will win the game. Like many others, I chose 1:2 as the score. However, I'm very unsure about this game, so I wouldn't be surprised if they lose or if it's a draw. It's one of those cases when it's hard to be certain about the outcome IMO.
4694  Economy / Gambling / Re: primedice and stake dont show you your profit stats, it is a form of scam on: October 30, 2020, 04:34:45 PM
Op, I agree with you that stats are important and help to make decisions as well as fulfill the curiosity if knowing whether you are winning or losing overall. However, not displaying the stats is not illegal, and does not mean a casino is scamming people. Why not make it as a suggestion to return the stats, explain the benefits for players and gather people who are in favour? I think making it a friendly reasonable suggestion would be more effective than accusing a solid team of scamming people.
4695  Economy / Gambling discussion / Re: Question on soccer predictions on: October 30, 2020, 04:25:03 PM
Before placing a bet, I look at a few factors. I look at the odds, I look at the match history between two teams, and I look how the team performed in their recent games against other teams. If someone who's usually a big player is now out of the game, or if the coach has changed or something, this should also be taken into account. And I also compare the match history with the history of home and away wins (depending on where the game is taking place).
But the weariness of the players is a tricky thing, I haven't considered it before.
4696  Economy / Gambling discussion / Re: How far will you go when you sent btc to a site with high fee but... on: October 30, 2020, 04:14:44 PM
As I couldn't complete the question in the title, below it is:

How far will you go when you sent btc to a site with high fee but could not get it into the site because either the fee was low based on that time or they credit it after some confirms. Fee has become the talk of crypto nerds and everyone thinks that it is already so high. What will happen when price is high and miners increase fee, mempool is clogged and you have your favorite winning bet available right there on the table but your btc is in your wallet and you want it to reach the gambling site anyhow to bet and win? Give your valuable opinions as they matter.
It wasn't hard for me to choose the first option in the poll because I don't have such strong feelings about gambling. I'm never absolutely sure about the bet I'm about to make, and I'm never eager to get so much as to pay crazy fees. Moreover, I usually bet in advance, so this situation when I'd have to pay the fees to get the money asap is unlikely.
4697  Economy / Gambling discussion / Re: If btc > $150k, will you still gamble it? on: October 30, 2020, 04:06:37 PM
After so much positive speculation, optimism in markets, accumulation by institutional investors, too many analysts predicting a new ATH for btc, let's say if everything goes good and btc reaches extremely high price, will you still gamble it? Or will you 'be able' to gamble it? Won't the fees distract you from using it in gambling?

Take the poll and share your opinion.
For me it's not the price that matters. I would be comfortable using Bitcoin for gambling at such price. After all, it would actually mean using very small amount in BTC, and I'm sure the minimum gets in BTC will decrease. However, what's important to me is the fees, and judging by his it's currently going, fees can be very big if the price gets so high. I would be okay with less than 5% fees, but if the fees make it impossible to deposit and withdraw small amounts, I'm probably not going to do that.
4698  Bitcoin / Bitcoin Discussion / Re: Iran Changes Law to Use Bitcoin For Imports on: October 30, 2020, 03:04:16 PM
I'm glad they decided to turn to Bitcoin rather than create their own centralised regulated cryptocurrency. The latter was already attempted in Venezuela, and it did not go well with their coin becoming a joke. Bitcoin us a risky choice, so I'm interested in how it will work out. I hope this use case will be successful. In this case, Bitcoin is likely to be taken more seriously. But I would be more happy if a more open-minded democratic country would try it.
4699  Bitcoin / Bitcoin Discussion / Re: Follow your mind! on: October 30, 2020, 08:03:08 AM
There are so many costly mistakes investors make that may be regrettable. Such as
1. Borrowing money to invest
2. Greedy expectations in reward
3. Total reliance of people's opinion. Among many others.
My emphasy is the third. It is good to listen to people opinions but not all opinion counts. Many here just make confident predictions that has no base, go to prediction topics in our bitcointalk to confirm this.and you know how painful it is when you lose just on someones prediction. It is better you follow your mind during investment and bear the consequencies thereafter.
Borrowing money violates the rule of investing what one can afford to lose very seriously. As for expectations, I think that one should analyze how the price changed in the past and set up a realistic goal for cashing out.
And as for the third point, I think people tend to follow the opinions of others to blame others and relieve themselves if responsibility. They have the right to do that, but I agree that it's not a good choice.
4700  Economy / Gambling discussion / Re: Multi bets vs single bets on: October 30, 2020, 07:52:24 AM
Single bet works for me, since I don’t need to make more research about the match and I always bet on my favorite team whether they are the underdog or not, I still bet with them. Gambling is about taking risk, don’t take gambling seriously and just enjoy your free time in gambling.
But isn't betting in the favourite team also pretty risky? If you just support the team you like, you are not being objective and are bound to lose sometimes even when you know that the team is likely to lose. Since in this case betting is not about maximising profit, I guess the risks associated with multi bets are also not a big deal. But I understand why you prefer single bets anyway.

Meanwhile, the multi bets are getting some votes in the poll, but single bets are leading.
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