Let's say a young teenager is given some coming-of-age money from their family, and is interested in growing that money through Bitcoin. Without encouraging him/her to invest in risky strategies, what are some lower risk methods of growing a Bitcoin portfolio with a hypothetical gift of $1K?
I would say buy a decent gpu or two, it will be good for gaming anyway  i agree. this is a good option. this would be two birds with one stone. he can use it for gaming and also there is always option for mining, of course mining altcoins is what i mean. it requires some searching for the best option and selling the mined coins at good prices for profit. Not sure if that's the best investment for a teenager, will end up spending all of his time gaming  And mining altcoins is also pretty risky, will take a long time to see any ROI, if you get any.. I would just buy some bitcoins with that money and save half of those bitcoins and invest with the rest. I'd try investing in reputable gambling sites for short periods of time and save any profits that you get and withdraw your principal after a relatively short time to reduce the risk. |
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Everyone using bitcoin should have total faith in it as its gonna be a future currency giving us multiple benefits and you should view it as a best investment for the future as you can expect better returns in future.
We can't really know if what we are gonna face in future with bitcoin but we can just hope and predict for something very positive, we can't be sure of anything coming in future as anything can get changed in no time so better to just hope and pray for the best. Yes, we have to believe on good and the more predictions are about the best future of bitcoin especially after halving a large community are of the view that the price will double up. Why do you think that the halving means that the price will double? There's no guarantee that *boom* the price will double instantly and everyone will continue at the same pace. The halving is just an event that happens - it cannot change the price. We as consumers change the price of bitcoins, and the demand may not increase to a level high enough to double the price. Besides, look at the current price. One of the factors for its increase IS the halving. It cant change the price?The halving will and must affect the value of each bitcoin otherwise would be useless to have halving to reduce your income.Sure speculations that we make is what really affects the value but we act to the news usually same way as forex,in this case is bad for miner and good for medium short investors that should be able to get an extra profit before and after the halving,i believe we will reach 700 dollars till end year stable. The halving does not change the price directly. It will not double the price, either. That's not how the economics of bitcoins would work. The halving has already begun to affect the price of bitcoins, that's what I'm saying. Keep believing that once the halving comes, the price will reflect it, because that adds more demand to bitcoins. But in reality, you should know that it doesn't directly double the price. It's the supply/demand of bitcoins that reflects the price. The elasticity. But it's certainly possible that the hype surrounding the upcomming reward halving will make the prices rise significantly, which could even result in a bubble. It all depends on how much news we will see once it happens and if it's getting picked up by mainstream media. |
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I've been told that it is been consistently high but it has been a while since I checked the prices and accuracy so I don't really know.
Given the current market, it's easy to believe that's correct for most of the (normal) accounts. I got an estimate of around 0.11 BTC for my senior member account, that's about 2 weeks worth of sig campaigns, seems a bit low, but if that's the current market... Not worth it to sell my account for such a low amount  |
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Great work and very cool of you to open source it. I'm not planning on selling my account, but it's kinda fun to know what the value of it is.
Are the prices pretty accurate or on the low or high side?
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I would probably try to get at least 0.1 with some high risk dice bets, I think it makes it a lot more fun. You might not win as often but at least you got something pretty good when you do.
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I played at majority of trusted onlin casino's but i I have never been in a real casino, is a thought that came just reading this thread I bet you are under age who only play online casino from the first time that's why you never come to offline / real casino in your live? For some people they never come to real offline casino because of legal matters in their country, are you one of them too? Real casino sounds exciting but not everyone can come there. your bet is wrong i am way over the legal age, i think the main reason it's because there aren't casino in the area where i live, there's some pub whit slot machine but no real casino whit table games etc. It's the same here, we also have gambling in pubs but it's usually looked down upon if you play it and the people who do are usually addicts who hoard a machine for hours and end up losing maybe 500 euros in one night. |
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Bitcoin is safer than my cash which can easily be stolen as well as fraud cannot be comitted
That's not a great argument because Bitcoin can also be stolen, there is so much malware out there designed to steal your coins. Its not that easy to steal your coins as we have safest digital wallets which are taking best care of our bitcoins and I don't think anyone can hack your wallet that easily. The problem is that most people will not opt to use the safest wallet, they will go for the easiest to use wallet, probably an account on blockchain.info without 2factor auth enabled. People fall for phishing sites all the time, they install random software etc. Maybe most Bitcoin users are a little more computer savy than most people, but certainly not everyone. |
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Bitcoin is safer than my cash which can easily be stolen as well as fraud cannot be comitted
That's not a great argument because Bitcoin can also be stolen, there is so much malware out there designed to steal your coins. |
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There are some really interesting ones that I hadn't seen anywhere before, pretty cool to go over them, there might be a few that could be pretty useful I'm especially fascinated with this one, it's like looking into the future  |
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I prefer online gambling over gambling at a casino, I'd have to drive pretty far to get to a casino in the first place, so it's not really that easy for me to even go to a real casino.
Plus with provably fair gambling, I at least know that I'm not being cheated.
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This is actually pretty cool, the video's are also of pretty good quality. Though I doubt I will ever be fast enough to get a private key first |
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Some merchants would give you small discount when paying with bitcoins (or more loyalty points etc), mostly applies to gift cards purchases, but recently JM Bullion (precious metals dealer) started accepting BTC, you can get bigger discount (4% iirc) as compared to credit cards or paypal payments.
I recently found one online store that does this, I ordered some guarana through azarius.nl and saw that they give a discount if you pay with Bitcoin. First time I saw something like that And to answer OP, I wonder if those typical crypto dice gambling sites are exclusive to bitcoin, I'd never seen something like it on any traditional gambling website. |
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Currently I like to switch between playing dice and slots with a progressive jackpot, I never really liked dice in the past but after playing for a bit with some faucet earnings I've started to like it a lot |
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This would be a really neat idea if you could be certain that you weren't playing against bots. Then again, you could build in some protection against that.
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Another useless thread.You might want to re structure the title of the thread to "How was your first Gambling Experience" ? I bet most of the posters here started betting after getting introduced to bitcoins because casinos wouldn't allow under age kids anyway.
I don't agree, this could be a fun thread. Also, it doesn't have to be gambling in the traditional sense, think of things like coinpushers or claw machines, I'd consider that a form of gambling and one that legally accessible for underage people. Anyway, that is also my first experience with gambling, playing a coinpusher when I was 14 or 15 years old. |
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Something that I really recommend doing to anyone is to keep a reasonable buffer of savings for emergencies and invest anything you can basically spare to invest.
I try to save at least 10% of what I earn each month and I invest anything left over after living expenses and costs etc.
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Anyone of you had this kind of situation ? personally,whenever I start speaking about Bitcoin and how it will go to the moon and that kind of stuff , some of people start mocking (Friends , Family etc ..) .
I personally don't know how to respond in most cases honestly , I just believe bitcoin will become successful .
It happens all the time, don't sweat it. When I was younger(a very long time ago), I spent every bit of time I could on this crazy new thing called a computer. That time spent has served me well, because I got to do what made me happy and I got good at not giving a fuck at what other people thought. If you ever need a reminder, you have to live with you for the rest of your life, don't let others make major life choices for you. Yeah this is something to keep in mind in general. If you're passionate about something, you should try not to care what other people think of it and just do whatever makes you feel good. |
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I think payments via Faucetbox is important feature.
It is much better for users. Less fees and faster payouts.
I thought people will like something like Freebitco.in & moonbit.co.in which as far as I know pays directly to our wallets and don't go through a third party application/website . It would be nice for the faucet owners to have the option of chossing how they want to process payments, either through Faucetbox, Xapo or directly to wallet. Also, being able to choose captcha would also be useful and maybe add some unique features to deter bots. If they want to use Xapo or FaucetBox then they could use them directly to setup them instead of using my faucet , no ? I mean I don't understand why people would prefer those from using a faucet that pays directly to users wallets , I'm sure that's what the users want . (not sure about the owners) Unless your script offers more features than the standard ones from Faucetbox etc. Faucetbox is just really handy for users to ensure they get immediate payouts, so no risk of the faucet dissapearing while saving up to reach payout. |
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In my contry it very easy to fraud the electricity even it can cost you 300 $ and then you have electricity free
for life , i wish i have miners hardware in my country i will never speak about electricity .
I would not recommend doing that, even if the chances of getting caught are extremely low, it's basically stealing what you are doing, even if it is from a big multinational. |
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Buy or develop your own time machine and go back to 2008 and mine BTC on the computer at your mothers house in the basement
If you manage to develop time machine, selling the time machine would make more money then go back in time to mine BTC. Gorvenment would pay few trillion for it  If someone could invent that then he would be the riches person on earth. Going back from the start where bitcoin was just on its early stage then coming back here with a good amount. To be rich you dont must gamble. Because you will only lose money with that and that is very bad. The first step that you can do to be rich, is just saving money. That is the most important. Otherwise you will have never money later. In the short term you could get lucky and win a lot with gambling, but only if you manage to completely quit after that and there lies the problem for most people I think. |
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