When you are gambling at any site such as say Dice, there is always a house edge but its not the house edge that makes most people go bust. Sure if you take enough rolls its always against you in the long run. The reason why people lose all their money is because they usually try and martingale their strategy.

Martingaling is when you double your bet on a lose, its a great system because if you are playing a game such as "Head or Tails". When you get heads, chances are the next flip will be Tails, correct. Hence if you lose 5 times in a row, chances are the next roll will be a winner. So people do this and what gets them is that eventually they run into +10 losses and they no longer have the account balance to keep betting. And the reason why this happens is due to statistics and probability. I think I had like 12 losses in a row which cleaned me out maybe a few months after I started with dice. It can happen sooner or later but it always will. Sometimes you get lucky enough to double your account this way but for most people they end up losing their balance. This is how gambling works.

I don't think its considered like short term investing. Honestly short term investing means more like day trading cryptos or stocks. And what usually happens to most people that short term invest? Unless they are extremely lucky and catch the bottom most 98% or so lose their money due to greed. Look at what happened with the stock market and oil markets. Most retail investors were long oil and short S&P500 and the complete opposite happened.

With bank-roll investing is more like long term investing. Basically like buying a stock like APPLE and hold for 10 years or buying Bitcoin and holding for 5 years. Chances are you will most likely make some money, however at a very slow pace. So there is some degree of risk but its pretty low compared to anything else. Sure you can leave it in your bank account and pretty much get nothing for it. Nothing else out there which pays you more for less risk. So its a good investment in my opinion.

Dual mining was very profitable during 2017-2018 because there were not ASICs back then. The reason why dual mining was possible was because the GPU actually stays idle the majority of the time and it's the GDDR that does most of the work. So claymore figured out if there is some algo out there that doesn't require tons of memory like ETH or ZEC or XMR then it's possible to dual mine like DCR SIA and PASCAL.

Issue with this is that it's very easy and cheap to design an ASIC which is much more efficient. So you basically have one ASIC that is maybe 50x the speed of one rig. Hence why the days of dual mining are done. Since the ASICs took over and not worth mining at all these days.

Looks like the site redirects to poker.co.ag but there is a direct link from Poker.com

Honestly it looks like a poorly designed site given the valuable domain name "Poker.com". The instructions given are very poor and there isn't much info about KYC. I am assuming since Poker.com uses merchants so will Poker.co.ag and most likely if you attempt to make a withdraw you will be forced to KYC. Similar to what happened with the pornhub casino.

Its also confusing because it says you can use Electrum or Blockchain.com as your wallet and you use a credit card or debit card to buy the bitcoins and load them on the wallet. As far as I know you can't buy bitcoin with credit card by Electrum. They should of just used Coinbase or Gemini as an example instead.

Either way, poorly designed but they will be successful due to the domain name alone and will get traffic.

Basically I am an old timer using an old version of Electrum.

I got my Electrum fully sync'd up until my last input for all my wallets. And haven't used it since. Sometime a year ago or so, I heard that if you are using an old version of Electrum and you receive a Segwit transaction then it won't be possible to have that transaction signed on the cold storage system due to a different signature format.

I know about the phishing attacks and such but they are not an issue because I don't connect to any servers, I just got the wallet sync'd to the last block which had my last transaction so I can create a new transaction, sign it offline and broadcast it by a block explorer.

So from what I understand there are 3 ways to tell if its segwit or not.


1) Is by looking at the Sat/Byte and Sat/WU. If there is ratio of exactly 4, then its not segwit. Basically something like
4 Sats/byte and 1 Sats/WU ?

2) Is by looking on the block explorer at the inputs and if it says N/A under Witness.

3) Looking at the raw transaction and checking the 5th byte and if its 0x00 then its Segwit and if its anything else then its not segwit?

Bitcoin has a tendancy to have these bubbles simply due to the fact of short supply. If you were around in late 2017 you would of realized that many people wanted to buy bitcoin but couldn't because bitcoin ATMs and certain foreign exchanges simply ran out of bitcoins left to sell.

So what happens when there is huge demand and absolutely no supply, prices skyrocket. Eventually people who are holding BTC realise that they are "rich" so they send their coins from cold storage to an exchange and sell it, and then the price starts to go down.

Its possible for this to happen again. If we break $20K, we will slowly go to $25K but once $50K is broken, we can easily go to $100K from there since almost everybody sold and no more sellers.

Best thing to do is list it on Craiglist, sell for like $75 or so. Then add $25 and buy the RX 470/570 8GB GPU. Currently there are many of these out there from miners who are still liquidating their farms from 2018 and the prices are rock bottom.

Some gamers don't care about the 8GB, so they rather pay a little less and get 4GB. Depending on what games they are playing, it doesn't make much different frames per second wise.

At the moment there is really nothing worth mining for the 4GB cards. Everything else has its ASIC or CPU platform pretty much and nothing good for GPUs.

Yes its because of the messed up Bitcoin Cash retarget algo. Basically after the halving, most of the miners left. And they have this complicated difficulty retarget system. So lately the blocks are usually 1-2 hours apart for a few hours and then they are about 1-2 minutes apart. So miners are essentially "pool hopping" between bitcoin and bitcoin cash OR the nicehash miners are taking advantage of this.

The bitcoin core dev wrote a tweet about this last week addressing this concern. I think he said it will eventually become stable but I am still surprised it has these erratic block times when its been a few days already.

Reminds me of the days when their first retarget algo went live, and basically BCH had like 1 minute blocks for the entire during of the retarget and it went on for days until it finally stablized. Miners kept switching back and forth. Hence why they are 1 month ahead in block times.

It actually is pretty confusing, not only in crypto gambling sites but also with bitcoin wallets. I found uBTC or mBTC very confusing at first. Sure we all know that m is for milli and you just divide by 1000 and u is for micro and you divide by 1,000,000. However it gets confusing when you are looking at BTC units all day. So you want to send $1000 to a friend and the price is $10000 a coin, you easily send 0.10 BTC. But if you are dealing with uBTC, you need to manaully open a calculcator and divide it by 1000 to get the result. Its just easier to use BTC terms. Most wallets like Electrum defaulted to mBTC also and I didn't like that.

I think if you decide to stick with the uBTC you at least in paranthesis should just post the correct amount in BTC so. Something like 2000 uBTC (0.002 BTC) and I think it would clear it up for most people. I know its a minor issue however many don't prefer to use those units and neither did I and I am not new to the crypto world, been around since 2014.

Were you around in 2017? Back then there were tons of people who had over $200K worth of crypto at the peak in 2017 and they all said the same thing. When they started to gamble with like 1 BTC, they said that if I ever make $200K, I will buy a house. So many people started with 1 BTC which was at $1000 and they either gambled, mined, or traded and got 10 BTC, and at the peak it was worth $200K. Did they sell? No.

They held on to it because they wanted $500K or $1 million or so. And eventually most ended up selling a year later in Nov 2018 when it hit $3-4K. So instead of selling and making $200K with an initial $1K investment they only made $30-40K assuming they didn't lose it by gambling or leverage trading. So if BTC ever hits $200K a coin, will you sell and buy a house? Or will you hold it because you think it would reach $250K or $500k?

I was around for the 2016 halving, when the event passed it was pretty awesome watching the blockexplorer printer a new block which only had 12.5BTC as the miner reward. I think in some areas of the world there was tons of bitcoin halving parties. And this was in 2016 before the crazy FOMO of 2017.

I think if it wasn't for covid19 there would be more bitcoin halving parties like in 2016, however due to social distancing its obviously not going to happen. I also heard about the 2012 bitcoin halving, the first halving. The guy had like a Radeon 5950 (or something similar) gpu which mined the winning block, and later I think he sold that GPU because it held some sentimental value. Crazy times.

Right now before you get started you need to realise that there is little to no amount of profit to be made from mining. Basically with an average cost of $0.10kwh, you make $0 per day after you subtract electrical costs.

If you got free or very cheap power, then you can make a few dimes a day. However gone are the days of making $5/GPU/day like we had in 2017/2018. Right now it would be best to just invest the $2000 in either BTC or ETH and just wait a few months years and save yourself the hassle of setting up mining rigs.

If you are going to mine anyways then at least just hold the coins and sell when they start rallying. Not worth it to sell them right now due to the low prices. See what happens after the covid19 mess is over.

If you are computer savvy then there is little difference for you when dealing with a GPU rig or with an ASIC farm. However for many non-savvy people the difference is as day and night.

I helped a few people in the past set up some ASICs, basically they figured it out in probably less than 5 minutes. What took the longest was setting up the pool, checking stats, etc. We never fiddled around with the frequency or voltage settings on the ASICs, just left it stock.

Then they wanted to go the GPU route because it was more profitable and it was very difficult teaching them. It was easy when they just wanted 1 GPU and you just needed to show how Claymore works and mod the GPUs. However it became difficult when they wanted 6 GPUs per rig, using 2 PSUs, with risers, etc.

So there is a difference between the two.

All of their funds are kept in cold storage. When you make a deposit its sent to a 3BMEX.... address which is multi-sig. And the owner+essential workers there need to sign it manually everyday to process the withdraws. Hence even if some hacker did hack their site, they wouldn't be able to steal any of their funds.

Do they even have a hot wallet? Whenever I get a deposit, its always from someone's elses deposit address. And those deposit addresses are all kept on cold storage. Hence why its the largest volume exchange for years and they were never hacked, not even their hot wallet. So their security is pretty tight and I wouldn't worry about it.

With $0.10kwh USD power, you pretty much making nothing with GPU mining. With ASICs you can actually make a profit if you get the latest and greatest ASICs like the Antminer K5, Antminer S19, A10 ETH miner, etc. However the issue with those is the entry price.

The A10 ETH miner is like $3000 and you always worry if ETH will fork to ProgPOW or not. They net like $5 a day after power costs. So ROI ls like 2 years. Either PROGPOW or POS will come first.

Same issue with Antminer S19 they make $5 a day, but it will change next month due to halving and cost like $2000.

Hence unless you got free power, cheap power, or are friends with Bitmain there is little chance of earning a profit.

Looks like the price of oil is about to hit another 20 year low. And it got me thinking. What if... you can buy cheap gasoline to power a generator to mine. Will it be profitable?

Now I know that running sensitive computer equipment on a generator is a horrible idea, because the power won't be as stable as from a power grid.

Using this as an example,
https://generatorpowersource.com/generator-fuel-consumption/

It says a 5kW generator uses 18 gallons of gasoline for 24 hours. So basically 5kW*24=120kWh.

Average home power costs are $0.10 kwh so 120kwh would be about $12 in electricity costs. How much does 18 gallons of fuel cost? $2/gallon so $72.

Hence it seems that its still 6x as more expensive. Maybe with a diesel generator would be more efficient or propane.

Before you get into this, there are 2 things you should know. The Antminer S9 is started to get old. I don't know what your power costs are but if you are paying $0.10 kwh which is the average in North America for residental power then you would lose like $1.50 per day since it costs more to run than actually makes profit.

Now another thing to consider is that next month, is called the halving. So mining would get even more unprofitable. Basically almost half as profitable so instead of losing $1.50 you would lose $2.30 or so, just doing these numbers in my head.

So let us know your power costs and we can help you out further.

Most likely it won't stop in the 2nd quarter, maybe in the 3rd quarter. However the economic damage that it created can last for years. Keep in mind many people lost their jobs and it will take years to refill those jobs.

Usually businesses lay people off, say 100 people and then they start to hire people slowly, first 50, then 25 and maybe if business is good the remaining 25. Hence its a domino effect. Less people working, less goods and services pretty much.

Like I said before. The issue is that bitcoin is following equities, hence when its not going down. SP500 keeps printing higher and higher, however people are still losing their jobs. Eventually most earnings for companies will be negative and stocks will eventually stop rising and either go to new low or trade sideways and bitcoin will follow. Don't think the halving in 1 month will have much effect really. If stocks go up that day, so will bitcoin. If they go down, so will bitcoin.

Doesnt seem to work on mobile. Basically has the circle displayed and its rotating clockwise forever and goes nowhere. This is with the default Safari browser with an iPhone 5S. Sure its an old phone but many people still use it and it might affect the newer phones also. Didn't check if it works on my Android.

I think what sets this site apart from other dice sites or other gambling sites is the lightning mode functionary, I think its good that more and more services are starting to use lightning mode. I think it would be more adopted if the BTC fees were higher. Until we get more adoption I don't think there will be heavy use of LN until then. However its good that you implemented it.

Wow an old timer, I see you joined back in early 2012. Back then BTC was $5 a coin. Yes you heard that right guys, $5 a coin.

However lots have changed in the mining world. Basically gone are the days of mining with your laptop and earning 0.10 BTC/day with your i3 processors. You need top of the line processors these days to barely make anything.

People got GPUs , ASICs, FGPA and they are barely beating their power bill. Give you an example, with an Rx 470 8GB, the most common GPU on the market, with an average power cost of $0.10/kwh you make $0/day. The $0.36 profits all goes towards electricity. With CPUs its similar result, same with ASICs.