Thank you for providing the Bitcoinstrip article on investing in bitcoin casinos. So basically if you want to get a decent profit out of your investment you need to find a casino with small to average bankroll and a great turnaround to get anything more than 100% of your investment? And investment in the well established casinos now like Just-Dice will yield minimal rewards?
I think yes thats the case. But being able to trust a small bankroll casino or anyone is the main question. Also I doubt you will get a really good profit by investing. I had around 0.1 BTC invested in the 2 best casinos and have almost doubled it in only one of them. But yes investing in established casinos , will yield minimal rewards , but that depends on the amount you invest. Say you invest 1BTC in a site with 1000 BTC bankroll and 1 BTC in a site with 2000 BTC bankroll, then in the first one you are 0.1% and in the second 0.05%. So if a player loses 10 BTC to the site, then the amount you get in the second casino will be lower, as you represent a smaller portion of the bankroll. But same is the case with losses. If the player wins in the casino, then you will lose a smaller amount in the second one. But since investing is somewhat +EV it is better to invest in the one with a lower bankroll as long as it is trusted. |
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Looks like it. Its always good to do a background check before lending anyone any money. How I can check the background? yes I checked his post history, But not that much history and all other detail. Just like I did from the post he made with the loan request. Also , he had no previous trust and was not someone I personally would lend 0.03 BTC, if I was lending to him the first time. |
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Looks like it. Its always good to do a background check before lending anyone any money. |
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The more solid proof is the fact that 1KeXEqj7GHFSxyZgDdE9HhnGRdmCkUPM82 and 16Jt2jyCB28tJdToJCaAPUZW5HNJUxcEAg signed tx b7e816f8f4d97df210f226903aa982c8c4ad85da479c3a1ed7b46150990d43b6 and 1KeXEqj7GHFSxyZgDdE9HhnGRdmCkUPM82 can be tied to superstar777. Just because he sent money to superSTAR777 does not mean that they are the same person, just that they did business together
It was just a little obvious that he was an alt, based on posting style etc. I was just stating that he was an alt. How do you figure out that they both signed the same message ? |
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Changes to the Consumer Protection Act and laws governing gambling so that Internet service providers must block access to online gambling websites on a list of “illegal sites” created by Loto-Québechttp://montrealgazette.com/news/quebec/2015-quebec-budget-highlightsPlease devote a few spare brain cells to a technical solution to this, in case the idea spreads to other jurisdictions. I would suggest a TOR-like bouncing of the client-server communication so that blocking of the domain would not be effective. Would need to keep latency to a minimum. Would it be possible to know what sites will be banned ? I don't know if they will be banning bitcoin gambling sites as well. I think a solution to that would be using a VPN if people use the client of SWC, or just use TOR once the online browser comes out. |
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Its anyday better to invest money , but as for bitcoin there aren't legit options to invest in, and there is a bigger risk than investing in the real world with Fiat. So Save bitcoin and Invest Fiat.
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The site on my country has a minimum difference of around 15 dollars. Can't you just trade it for the selling price, which will be 15$ lower than the price to set up trade. 0.1 BTC will cost you only 1.5 dollar
No as they want me to have 0.4 BTC in my Localbitcoin account to open a trade. The difference in my country is about $20 less if I sell the BTC. This is something I have never heard of. Did LBC started doing this recently? I have seen people sell as low as 0.05 on LBC without any problems. You only have to find a buyer that's willing to buy small amounts and that's all. No, for selling its still the same as before, completely depends on the buyers in the market. But if you wish to set up a trade through an advertisement, then the minimum amount required is 0.4 BTC. |
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Do these bans actually apply to bitcoin sites ? Its hard to manually enter all the sites on the block list as there are more than enough to count . I think only some of the major bitcoin gambling sites would be effected by it. And Tor is always an option as well.
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I recently joined the website and started a new trade but I got an error that I need to have minimum 0.4 BTC in my wallet in order to post the trade. Why don't they not allow small BTC transactions?
I was actually a seller on the website and the 0.4 BTC limit did feel hard, but I think thats to keep the small sellers out. For example, if a random person wants to sell 0.05 BTC then he would never actually sell it to the buyers(who are buying as traders) , he would just set up an advertisement each time he has that amount and sell it. YOu will also have a lot of advertisements due to that. The limit might be to limit those advertisements out. |
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They check passengers too much instead of thinking if pilots are proper to this job.
Its hard to be involved in their personal life and address each pilot in particular. Its still not clear what the intention was, but I don't see anyone thinking of suicide taking down a lot of people with him, unless he developed hate due to a terrible experience. |
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Block the site won't stop you from gambling, as long as you still want continue gambling  The best way is ask someone to help you stop from gambling  That won't always work. Not everyone is open to their relatives admitting a gambling problem and of all the people with the gambling problem, less than 1% actually consult anyone or find a solution. Here is a good thread from the past https://bitcointalk.org/index.php?topic=820029.0 , which addresses gambling addiction and working towards solving it. |
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This is how it should be , and is a perfect way of limiting the spam. Because sometimes if the person is in business with another person(say a loan or a trade) , then a ban might lead to the other party also taking a loss due to it. Removing the signature space would be the perfect solution to it.
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The concept is pretty confusing actually. If you consider the odds of 11th Head after 10 heads, then its 50% , however if you consider the odds of 10 simultaneous heads, then thats very less , and the odds of 11 heads is lower, and so on.
So overall the gamblers fallacy isn't true but a tails to happen soon does increase by a bit according to me.
You don't care about the odds of throwing 11 heads in a row, after you already did 10. There is only 1 left to throw so it is 50/50. The odds of throwing 11 heads in a row is (1/2)^11. That's the same as ((1/2)^10) * (1/2). The bold is throwing the first 10, AFTER you've thrown 10 heads in a row the odds of throwing 11 in a row are 50/50. Yes thats true, but what I mean was say the odds of throwing the first 10 in a row is very low, then the odds of throwing 11 heads is even lower and hence chance of tails coming up to satisfy the natural existing probability of 50-50 should increase. |
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How do you guys award the free bet that is earned after making bets on the site ? Currently it shows I have 0.1 BTC freebet available, and the only thing in common I have is my email address. The deposit and withdrawal address changes each time as I use an exchange. So can't anyone knowing my email make the bet and message you here to claim the bet ?
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The concept is pretty confusing actually. If you consider the odds of 11th Head after 10 heads, then its 50% , however if you consider the odds of 10 simultaneous heads, then thats very less , and the odds of 11 heads is lower, and so on.
So overall the gamblers fallacy isn't true but a tails to happen soon does increase by a bit according to me.
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Are the odds that you are offering more than the Sports books or less ? I really don't see the point of it if its less as its an unnecessary hassle to look for an escrow and be paid with the delay as well.
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Giving back the money wouldn't be profitable for the casinos. They only make money over long term. For example Video Poker has a house edge of around 0.46% , so they theoretically make only 46 cents off every 100 dollars that you wager. They rely on the fact that you wager over a long term to make money by the gamlers losing over time to that house edge.
The only way they will be able to give back the money would be by increasing the house edge, and one site that does the exact thing is luckyb.it. They usually give back part of the amount wagered.
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I'm curious how investing on gambling websites work?
Let's make an example that website has 100 BTC of it's own capital.
Then an investor come and deposit another 100 BTC. Total bankroll of gambling website is then 200 BTC
What does this mean? Does the owner and investor share profits 50/50, or has the owner more percentage, because he build the website?
You can find all the information about that on the FAQ's on the investment pages of the sites. Depending on the site most owners take 10% of the profit amount for running the site and maintenance. Some of them take an amount based on the wagered amount, around 0.1% of the wagered amount for some sites. The bankroll is the most important thing for running the website so charging anything over 10% depending on the game isn't a profitable investment opportunity for any investor. |
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Someone looking to sell bitcoins on localbitcoins.com will see prices less than major exchanges for in-person cash purchases. I guess that makes sense, because the seller is willing to accept less cash when he gets it instantly, in person.
However, the prices for for online trades are quite a bit higher than major exchanges. The current Bitstamp rate is US$250/BTC, while one trader on localbitcoins.com is offering US$339/BTC (paid using PayPal). Why is this trader willing to pay so much more than he would if he pays an exchange?
As for Paypal the prices are always higher while buying bitcoins with it , because of the risk of charge back. Along with that , most of the times you are also supposed to provide identification documents in order to provide proof. As for other trading, most of the sellers just buy and sell on there and thats the mark up they charge. They also have to risk and wait the trading time and have to pay by hoping the price doesn't fluctuate much in that time. I am a seller on the site and have had to wait upto 2 days because once the transaction was reversed right after the trade. |
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