I wonder why it's invite-only, and some software rather than a website  Can you explain why it's like that? I just feel like it would attract more people if it was a website one can easily access, check out, read about the policies and decide whether to play or not and when to do that... What are the benefits of keeping the community closed, so to speak? And doesn't it raise trust issues more than a website where one can easily see everything would? There aren't many good websites where one can play poker, so I just want to understand why you decided to go with an invite-only app or something like that. |
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The website's design looks fine to me, and it loads ok. However, many things that are wrong were already mentioned by others in this thread, and I hope you'll take them into account and fix it. Something I noticed is the maximum withdrawal amount being 15k BTC. That's a hell lot of money, so if someone wins something like that, are you sure you'd be able to pay? As a new casino, perhaps you have a way lower bankroll and could make limitations to ensure that it's all under your control. Moreover, looking at your Terms of Service I noticed quite a harsh rule which effectively allows you not to pay out the rewards if a person's winning a lot, no? Could you clarify this? 3.3 We reserve the right to limit or refuse any bet, stake or other wager made by you or through your account for any reason.
Not to mention the harsh KYC rules... |
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Bitcoin halving is an antcipated event in the cryptocurrency world that takes place every 4 years. Basically halving the total amount of Bitcoin in circulation.
that is wrong. the block reward is cut in half not the total amount of bitcoin in circulation. the later doesn't make any sense since if it were true we would have run out of bitcoins to use soon! what happens is that each block that is found has a reward, it started at 50 BTC per block and each 210000 blocks this reward is cut in half -> 25 -> 12.5 which is the current reward and soon will be 6.25. due to the way bitcoin difficulty is designed it takes approximately 4 years to reach each halving. there is nothing unreal or theoretical about this. what i explained has been enforced by the bitcoin protocol for the entire existence of bitcoin (11 years). Taking into consideration that people are falling back to cryptocurrency during this hard time in the world.
that is wrong. people aren't adopting bitcoin any more than before during the pandemic. the adoption may have even slowed down a bit. and like always to spend bitcoin you'll need it to be accepted somewhere, those who were spending are still spending and those who weren't willing to spend (only use it as an investment) are not changing their mind either! Thanks a lot for the explanation Halving is definitely real, and people have already explained here what it's really about. However, halving might occur a bit off the schedule, I believe. More importantly, a thing that's not real and merely hypothetical but related to halving is that the price will go up. People have been talking about it for years, and many attribute the price boost of 2017 to halving of 2016, although I don't really see the connection. Anyway, while halving as a fact of reduction of the block reward is a real thing, its impact on mining, prices and adoption are debatable. |
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Sadly, the world is in a state of islolation, probably the first time ever?
But my real question is isn't this best time for Bitcoin? Medical researchers have proved that it's dangerous to use cash and ATMs during this period. Sooo what other ways can we look to make our daily transactions easier and safer? BitcoinBTC!! It's as easy as checking something on the internet, no contact with sellers and the spread of the virus can be reduced.
Stay safe, Stay home
Thank you.
Bitcoin could be awesome and its potential might get more apparent nowadays, but I don't think it'll help us this time. People are advised to go out only when they need to see a doctor, to buy food or to go to the pharmacy. I would buy this stuff with Bitcoin if I could, but I can't. And the same is the case for pretty much everyone, right? And thus while Bitcoin could be the safe kind of money, it's not, not for now. Thus it's also time when Bitcoin rivals get more adopters since people who might be used to cash are trying to use alternatives for safety reasons. |
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I went through the Terms of Use but could not understand what are your KYC policies. I get it that you reserve the right to terminate the account and deny the winnings if rules were violated or a crime committed, but what about asking people about their identity documents? I think this is quite a common thing, so it should be stated clearly in the Terms of Use. I like the website's design, it's very simple to set the parameters and play. Thanks for making a demo one can try out without even registering! Good luck with the website!
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CoinDesk’s first quarter 2020 report has been released. The time since the beginning of the year was not easy, the more interesting are the conclusions and forecasts made by analysts of one of the largest crypto resources. Briefly, the conclusions about the state of the crypto market in the first quarter of 2020:⁃ The number of BTC whales (who have more than 1000BTC in their wallets) did not decrease on March 12, which indicates that the sell-off probably was not concentrated among the largest holders of long positions of the bitcoin. ⁃ Correlation with S&P500. Those who believed in bitcoin as an “uncorrected asset” were probably disappointed with how quickly the situation changed in March 2020. Bitcoin may return to an uncorrelated state, but its positioning as an uncorrelated component of the portfolio has been questioned. ⁃ Bitcoin transaction fees remained low during the market turmoil in the first quarter. Low transaction fees reinforce its potential use as a payment and transfer system, especially for sending large amounts. ⁃ CoinDesk expects that the amount fixed in DeFi and the ETH price will rise in tandem. In the short term, restoring to previous levels will mean restoring confidence in DeFi systems. ⁃ Halving will take place in less than two months when the reward for bitcoin block generation will be halved — from 12.5 BTC to 6.25 BTC. After two previous halvings, the price of bitcoin increased and compensated for the loss of bonuses for miners. The March drop in prices so far puts the upcoming halving on uncharted territory. ⁃ New functionality for crypto networks will have a direct impact on adoption among users. First of all, it is the implementation of PoS for ETH, as well as Schnorr signatures and Taproot for BTC. The full article is here: https://medium.com/@baloyan/coindesk-first-quater-2020-report-457073e302bbWhat are your thoughts? I guess the first half was more of common knowledge and something easy to look up, so I don't see anything worth discussion there. The second half is more interesting. For one, I am happy that they've mentioned that the drop probably wasn't caused by 'the whales' because I am tired of those 'whale manipulations' talks. As for correlation with stock, it's clearly out of the picture. Bitcoin dropped along with the stock, sure, but then it has shown some significant recovery. Then speaking of halving, it's a matter of interpretation whether halving was previously followed by the price increase (honestly, I don't see it this way, and Antonopoulos doesn't either). |
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Youtube quite often deletes videos and even channels due to their algorithms, and I kinda understand them - they host billions of videos, it's impossible to assign real humans to manually review all reports. In the past there was less such incidents, but then people start complaining that Youtube hosts all sorts of bad content, and advertisers reacted to it negatively, so Youtube, which has always been struggling to make profit, made their system that leads to problems like the one that happened here.
It's good that they seem to deal with difficult situations quite well if the channel is popular and people express support. It took less than a day to get this matter resolved, apparently. It took a few days to take down a video posted by people who hacked an account about history, pretended they were Binance and asked people to send money as a part of their promo (typical scam). Neural networks are getting better at a lot of things (deep fake videos and some engines that write texts are very impressive), and perhaps they'll get better at targeting videos as well. |
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otherwise the price is going to continue fluctuating as long as the market size is small. but whenever we zoom out we will always see growth in price too.
Fluctuations is because of lack or control. You can't control what happens in bitcoin market and I can't too and so anybody can decide how much bitcoin to sell or withdraw but there is fiat restrictions like dollar or euro.. On the second side, when you say zoom to growth, how do you mean ? I think BrewMaster is right on both accounts. The first is that the price is volatile, but there's a chance it will become a thing of the past if there are more people in this community. If there are, say, 20 million active Bitcoin users that make transactions regularly, and there's some FUD, some people will react. But if there are 200 million active users, there's more chance that the majority will keep calm and the price will remain stable. Oh, and market manipulations, in general, will become way more difficult. As for the second point, I think it's about seeing Bitcoin's price throughout the years. Some years are worse than others, and there are some drawbacks, but Bitcoin's price went from dollars to hundreds to thousands. |
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If i were an American and financially stable, why not.
But it's more likely people (who are financially stable) will spend their $1200 on non-essential goods rather than investment since people already have mindset it's bad time to do any investment.
I think it's not right that the money is distributed this way. If one's financially stable, it means one doesn't need these $1200, so it would make sense to give this money to those who need it more. So as much as I'm pro-crypto, I don't think it's right to spend the financial package for combating COVID-19 on investments of any sort, Bitcoin included. As for the $1200 chart, it can be that we're missing something and it's the confirmation bias getting the most of us. Correlation is not causation, and people who get the package might invest a part of it while those who don't might feel like spending $1200 for some reason. |
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There are some criticisms of the theory. "It was made according to the conditions of the time, it is now rotten. Because technology has improved. We can produce more food." I think this is a narrow view. Doesn't technology have a saturation point? Of course there is! With technology, only doping was done. How much of the food produced today is natural and how much is healthy? Most people started to get cancer. Catastrophe may have been delayed for a while, but there is no escape. With the development of technology, the human population has increased excessively. What happens when technology reaches its saturation point? Human population will necessarily remain stable or decrease. We can see how similar this chart is to the bitcoin chart. : )3. Limited Bitcoin Supply and Increasing Demand Father of Modern Economy Alfred Marshall defines demand and supply in this way:“Demand is defined as the desire for a commodity, backed by the ability to buy, and willingness to pay for it, at a given price, during a particular period of time.” (Dr. Alfred Marshall)
“The supply of a commodity may be defined as the amount of the commodity which the sellers able a willing to offer for sale at particular price during certain period of time.” (Dr. Alfred Marshall) Bitcoin is limited to 21 million. About 40% have not been moving for many years. Total supply will decrease as people die. 21 million (*10^8) This number looks huge. Actually it is still scarce. Just like the resources in the world. The limited supply of bitcoin makes it valuable in the short / medium term. Can the Malthus Catastrophe be seen in bitcoin in the long term?
I have a couple of objections here. 1. Currently, the problem of famine is NOT a problem of scarcity of food but of its redistribution. A lot of food in wealthy countries gets spoiled and thrown away because nobody ever buys it/eats it, while many people remain hungry. So that whole Malthus thing seems to be wrong. 2. I don't think comparing a food scarcity with Bitcoin scarcity makes much sense because while from one bread only Jesus can make enough food for many people, breaking BTC into Satoshis is perfectly fine if the price grows, and suddenly we don't have such a scarcity anymore. |
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Summary of the story: Met this girl, seems to be interested in me so on and so forth. Number is based in HK but comes from China. Was willing to help me by giving me inside information on investments via cryptocurrency and is willing to walk me through it. Instructed me to use Huobi app to exchange fiat currency to USDT. After that using the USDT to deposit into an electronic payment wallet trading site ( http://electronicpayment88.com/index.html#/login). I did an internet trustworthiness check on both and came up with not many issues. Huobi is valid and security seems good with a large number of traders using it. The electronic wallet was a bit suspicious so I did a test and transacted a small amount between both platforms TO test the legitimacy of it. It passed as well. Can anyone tell me the legitimacy of these USDT (CoinTimes, key2018) Much appreciated. Best case scenario: the money you deposited to that electronicpayment88 disappears. Worst case scenario: you're a part of a crime and in a big legal mess. In any case, a random person from the Internet would not just want to help another random person. That's not the world we live in. And if this person doesn't have an obvious gain here, you're in trouble. Or, and inside information doesn't sound like anything trustworthy or morally right to me, so she might think you deserve to get your money stolen or worse. I am happy you seem to have decided not to go for it (judging by the last post). |
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The trickery has been facing around the world especially on what we are facing right now, well that is how the mind of scammers and hackers works, they will take advantage on what we are facing now because they know that there would be so many people who will be tricked because they have thoughts that people would take this one because they are now suffering. "The good thing is that the FBI or the (Federal Bureau of Investigation) warns everyone that fraudsters and scammers are about to unleash a surge of coronavirus cryptocurrency scams."
“Fraudsters are leveraging increased fear and uncertainty during the COVID-19 pandemic to steal your money and launder it through the complex cryptocurrency ecosystem,” the FBI said, and they’re targeting victims regardless of their age.
I think an important thing they're not telling people but should is about fake official emails. The article mentions asking for donations via email but doesn't warn that even if the email seems to be sent from an official legit domain of a famous institution (like the WHO), it can still be a scam. It's something which isn't obvious to everyone, and that's why informing people about it is so important. It's made possible by not setting DMARC, and Vox did a great video explaining how and why it's a threat, and which institutions seem to be particularly vulnerable: https://www.youtube.com/watch?v=_CrbHvbvvMw. |
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My best story about crypto experience is about Ethereum, and it's a story about getting scammed. Back in 2017, it seemed obvious to me that altcoins were going to rise a lot. But I did not have much money to spare, and zero experience at this stuff (prior to that, I only used Bitcoin), so I spend $16 on my purchase. I bought 1 Ethereum with that money and withdrew it to ethereumwallet.net or something like that. A few months later, the price skyrocketed to $300. Unfortunately, the wallet provider wasn't trustworthy and decided to pretend there was a hack, effectively stealing our money. However, as they wanted to seem trustworthy for a while, they offered reimbursements of 40% to those who lost their money. I was one of them, and so I got 0.4 ETH back. Then they stopped pretending, closed everything and disappeared, but I still got more than $100 out of a $16 investment. I sold it and was quite happy in the end, even though I got scammed.
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Google has removed 49 cryptocurrency wallet browser extensions after a security researcher discovered they were stealing private keys. These Chrome extensions targeted users of crypto wallets, such as Ledger, Trezor.
What do you think of this move?
Obviously, it's great when Google and other giants combat crime and do what they can to protect people. If these extensions were scamming people, it's great that they're finally removed. Along with them, however, some useful things could get removed, and that would be a problem. I am not saying this is what happened this time, but something similar happened with Youtube before when it tried to fight against scam but also deleted some videos from famous crypto channels. So if the scam is where it stops, and Google doesn't go after legit extensions because of 'fighting money laundering' or something, then it's a good move indeed. |
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The guy didn't look worried, probably a safe place in a safe country...
I didn't write in the OP but the location is London. And yes, he seems pretty relaxed and the whole situation is pretty fun for him. Although I'm not sure how smart it is to expose yourself this way, because no matter what country we are in, it's not very smart to walk around with a bag full of money.
Is it too ironic? We have been using bitcoin as a safe currency in the internet then we are going to withdraw it like a normal currency.
Sometimes we just have no choice, to spend BTC we have to convert it to fiat. I personally always look for the option to pay in crypto, but if that's not possible and I need something, than I have to do the same thing as this guy, but still not in such a dramatic way. I would be very worried about a situation like that, and walking around with a bag of money is definitely uncomfortable and dangerous! I don't use BTC ATMs because of the fees and because I have trouble trusting them (that everything will be fine, that there's no malware or bugs and that nobody's waiting to rob around the corner), so I honestly don't understand why people use them. Are there places where a BTC ATM is the only choice, and one can't use an online exchange? I do agree with you that we still need to convert BTC to fiat, I do that regularly because I cannot simply pay for groceries with BTC, but I don't understand why ATM. |
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I would favor a change to POS, if someone can make a good argument that Bitcoin doesn't truly need decentralization, and censorship-resistance.
Well, since these to things are considered the defining ones by many people in this community, I am pretty sure that even a good argument would result in Bitcoin Stake or something else created as a fork, rather than Bitcoin going proof-of-stake. I think it's okay that Bitcoin is proof-of-work, and the change is too drastic to be accepted within the community. Oh, and don't we need miners onboard to do that? And how can you possibly convince miners to quit? Speaking of Ethereum, it was supposed to go proof-of-stake already, so it's unclear if that's going to happen now that the previous deadline was missed. |
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Addressing the future, cryptocurrency such as bitcoin should be taught in schools. This is why I did innovate a basic strategy as my research to used base numbers in cryptographic algorithm.
However, the computer is there to compute the numbers. But still, learners should be able to know the manual computation and how it increase and decrease according to its equivalent value.
In addition, this will make the new evolution of numbers of Mathematics.
There's been this big news that France included cryptocurrencies and blockchain into the official school curriculum. There won't be a whole subject dedicated to it, of course, but there will be some lessons as a part of Economics (and perhaps Computer Science, I am not sure). Moreover, some universities offer courses in crypto and blockchain. Just recently I found about a couple of them in my country (one listed in an online profile, another mentioned by a person who claims to know the guy to teaches it). So while slowly, Bitcoin starts to get attention from the educational system, which is definitely a good and necessary thing. |
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There's an existing technology which allows users to send money via phone numbers for a while now.
This is somewhat no different.
It's not just different, it's WORSE. Through this, there will be, once again, increased surveillance. They can definitely collect more data of their people through this. As if privacy in China wasn't dead to start with. That's a sad thing to hear. But I have a few questions. For one, how legit is this info about the project? Is it a serious governmental thing or a startup/perhaps a fake? Another thing is whether people will actually use it. Will it indeed be the only way to buy crypto? If one doesn't want to do that, would one still need to use this coin for other things? It's just not enough information to know what to make of it is all I'm saying. It's natural to presuppose that if it's China, then it means regulation, centralization, surveillance and stuff like that, but we need more info than a random tweet before jumping to conclusions. |
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I think we all know that the halving will come in 26 days  Im just wondering what are you thinking what impacts will the halving have? Will nothing happen? Will the price pump or dump? Will the hashrate drop dramatically and delay block times? First of all, are we sure that halving's in 26 days? I mean, I know it says so on countdowns on websites but I guess it's an estimation which might be a little off. But in any case, halving will happen somewhere in May which is quite soon. So what happens to the hashrate? I don't think the drop will be dramatic, and even if it happens, it's just a temporary thing. Speaking of the price, I'd refer to Antonopoulos who expects 'nothing much' to happen with the price. It makes sense to me, but if many people expect it to rise (and I guess it's the case), the price might indeed go up due to FOMO. |
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What was Satoshi's reasoning behind halving the mining reward over time? Why did he not instead choose to do it in reverse and double the reward at each "doubling" (up to 50 BTC and then 0 - same total mined reward but distributed in reverse order)?
It seems that increasing the mining reward over time would have made more sense for at least two reasons:
1) It doesn't favor early adopters.
2) As mining difficulty rises, so does the cost of mining and therefore, the reward should be higher as well. Of course the rising price of BTC compensates for that but as we've seen recently, the price doesn't necessarily grow all the time.
Discuss.
That's some out-of-the-box thinking, and I like that. But let's consider the effects of such a decision. 1. It would be barely possible to boost adoption as there would be a very small amount of mined Bitcoins. 2. The number of new Bitcoins appearing from one halving to another would be huge, and this could easily cause the inflation problem. In the end, I don't think Bitcoin would become a thing in this scenario, as it would be impossible to have about a hundred million users right now (BTC would just be too scarce). |
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