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5561  Economy / Economics / Re: Bitcoin can not replace fiat on: December 05, 2016, 12:42:52 PM
Bitcoin is not a new form of money that replaces the previous forms, but rather a new way of employing existent money in transactions. Because bitcoin is not a real money but merely a different way of employing existent fiat money, obviously it cannot replace it. In other words, a bitcoin is not itself money, because it always relies on an actual form of money(standard money) to underlie it.

That claim is unfounded for the most part

Bitcoin doesn't need any other currency to function since it is both a currency itself and a payment system in its own right. All it needs is Internet and people willing to use it (both miners and end-users). The fact that it is primarily used for speculation as a financial asset doesn't change a thing in this respect. Fiat just happens to be there, but if it were not, Bitcoin could be used without it. In fact, it would be even better off without any fiat alongside
I can't agree with it more, IMHO, bitcoin just rely on fiat and without fiat what will be used to transact in this world, we will surely be back in old age where we are going to barter or trade items to transact. Fiat is making our life easy and it is the most important for all of us, it happens that bitcoin was invented as another source of payment online and since it is unique due do it being decentralized that's why people get attracted especially those who want to transact privately or illegally.
5562  Economy / Gambling discussion / Re: What is your aim in gambling???? on: December 05, 2016, 03:22:59 AM
Hey guys i want to know what is your aim while gambling do you take it as way to get fun and excitement? Or your aiming to get more money and have a living for this thing?


My first intention is to get some profits, so I give it a shot and lost of course.
Well, I think that happens to many gambler at the first time, but I didn't plan to make a living from gambling.
I'm just playing and bet on my choices, although it's exciting and fun to do but with little capital and not go all in.

That's why I'm just playing for fun only, because most of the time if I think about profit in gambling opposite outcome is happening to me. And I guess I'm that a very lucky person and still not able to win some good amount in gambling. So if I win with my purpose of having some fun then that's great but if I lose, nothing is new, I know it will happen anyway.
At least for awhile we were able to enjoy our money and knowing that we will lose in the end will make our bets to the minimum that it would not affect us. This kind of thinking from a person is good to make you enjoy and gamble longer, and the statement might be true to you that gambling give positive results in your life. It's entertainment to be safe but seek money to take the risk.
5563  Economy / Economics / Re: Bitcoin to be international currency on: December 05, 2016, 03:16:11 AM
Bitcoin has been used for along time now , and without knowing it it became an international currency , the only problem is is that is not stable it does not have a fixed price that is why investors are afraid of it and thats is why it is not treated as an international currency like US dollar and Euro, but my hopes are that one day the bitcoin will stay at a certain price that way every one will use it and treat it right.
The supporters are making that possible, the adoption have increase from different part of the world hence it succeeded to grow progressive and that can be witness for this year's growth. This currency is international but not all of us can enjoy with our aim for using it, one example is lack of big merchant adoption that could help to make it more popular.
5564  Economy / Economics / Re: Does the Price of Bitcoin Matter? on: December 05, 2016, 02:13:57 AM
Price is important because it is a reflection of how Bitcoin puts itself in the economy. Nowadays, there are many people who depend on Bitcoin to send and receive money. There are also those people who use Bitcoin as a way of storing value. So, if the price of Bitcoin falls, too many people could lose money on it.
Yes I agree with you. The bitcoin price that always rise is the reason why so many new people come to use bitcoin as investment and currency.
Seems untrue, you can't expect the price of bitcoin to always rise otherwise price fluctuation is not real. The price is very important to us and more important to see a price increase most of the time, the steady increase of price will benefit us long term investors so it really matters to us to see a great price.
5565  Economy / Gambling discussion / Re: Betting on sport = gambling? on: December 04, 2016, 05:41:27 AM
I usually bet on sport sites when there is a big event. as well as the team that will play for the championship of the football. but apart from that I also bet that I prefer team sports
It would be more fun when there's a big event that's why sports betting is very entertaining. I do bets in NBA Playoffs because I have to support my favorite teams through my bet, at least when they succeed I can also get a share for their effort with the amount of profit that I will be harvesting.
5566  Economy / Gambling discussion / Re: How to stay away from gambling? suggestions ? on: December 04, 2016, 05:30:05 AM
My personal experience with gambling is that the more you think about not doing it the more likely you'll actually do it. So my strategy to not being addicted to gambling is to actually accept the fact that gambling is bad and should only be played an as entertainment.

It is no different to watching TV once you get that fact right.
If you compare with the entertainment side you have a point, but when it comes to the negative side, the addiction of a gambler is different from the purpose of being addicted in watching TV. An addicted gambler is not making a wise decision anymore and he will gamble as much money as he can and will not stop until he get bankrupt.

Yeah, they won't stop as long as they have money to gamble. Gambling addiction is the worst addiction of all because it can ruin your life and also hurt people around you. If you don't want it to happen stop gambling or reduce your gambling activities before it's too late.
Well for person who already addicted its very hard to stop especially if he used to it as part of his life. they need professional help and support from his family. it can only be done slowly.
in fact stopping gambling for an addicted person is really a very very hard job. as i have personally seen so may people who have stopped gambling for some time but after that they start it again and again.
This people has not fully submitted themselves for a change, if one really wants to stop he must stop for good not just temporarily and it also depends on the gravity of the problem which mostly due to addiction, if the addiction is too deep that it already resulted to losing more money that you cannot afford anymore the only solution is just to quit for good. Gambling is not good for you.
5567  Economy / Gambling discussion / Re: Everyone looses in the long run on: December 04, 2016, 05:17:41 AM
I won about 8 btc today, but im still a big loser in the long run. ;(

It just means that you are one the people who are in the higher tier of gamblers.
You are betting big time, so 8 btc is just like dust compared to what you lost.
You may have to bet lower next time.
The bigger you bet the bigger you can win or lose, we can't erase that reality if we are serious with gambling. That guy is very honest and understands his chances of winning and admitting to yourself that you will lose in the long run would make you only bet the amount what you can afford to lose though in the eyes of the many BTC8 is already a big amount of money.
5568  Economy / Gambling / Re: 1x฿it.com - Most Competitive Sports฿ook & Casino | ฿est Odds & Wagering Options on: December 04, 2016, 02:49:40 AM
My feedback

Yes i complained that i could not withdraw but 24hrs later it was OK

All markets covered live and UK/EU horse racing

bets are settled fairly quick


i rate A+


I think its really happening on some time on your betting and luckily it wad been fix by the devs, and surely this one will get more trust if they will act like that always, and surely i will bet again next time if i have enough time to monitor the sports i wish to bet on, and i think also those problem stated above is occuring when the devs doesnt see it nor they are busy to attain other problems regarding to their service,

But overall 1xbit is A+ for me at this moment.
The good with 1xbit  is they have a lot of games and different odds to offer. That alone will already attract punters to try this site and when it comes to support, A 24 hours time duration to fix the problem is just pretty normal as most of the gambling sites implement that standard.
5569  Economy / Gambling discussion / Re: Bitcoin Gambling Investments on: December 04, 2016, 02:47:08 AM
Ok everyone as I said in my last blog post I have now withdrawn from Bitvest and BetKing.

I then went and put all the BetKing and Bitvest balance into Crypto-Games

So the current balance on each site and the initial investment in each site is below:



Latest Plot of results is below:

I was surprise only the two remains in your investment experiment, and I was thinking also Safedice is not that profitable as base on my gambling experience with them, I notice there's no great volume of gamblers visit the site. Anyway, you have the result and maybe they improve now since they have increased they bankroll as well.
5570  Economy / Gambling discussion / Re: Worst mistake in gambling on: December 01, 2016, 01:58:33 AM
What are some the more idiotic and stupid mistakes that you know you shouldn't have made but did anyway. Yes this includes other none gambling stuff like sending btc to the wrong address. I'm interested to find out the stupid things other people do.  Roll Eyes
Make always maje mistakes everytime they gamble its more idiotic when they already lose in the way of playing greed they always doing it. We should learn every mistakes made i never done this before sending from wrong address is really a foolish.

This is true but gambling is fun and very enjoying and due to that they stay doing it, I also made my mistakes in gambling but I do not really regret it right now.
We should regret for our mistakes so in that way we will be able to learn from it, saying you did not regret about it maybe it's not really a mistake unless you repeatedly love to do mistakes over and over again which I think not the action of a positive person.
5571  Economy / Gambling discussion / Re: 2016/17 NBA Season on: December 01, 2016, 01:26:19 AM
I really like the Wizards tonight to cover the +6.5 spread, it has move out from +5.5 to now +6.5 against a team that is inconsistent. Favorites riding a 3 game winning streak when squaring off against a non-conference opponent (Thunders situation entering this contest) are just 43.3% against the spread over the past 10 years. I also like the Celtics money line.
It's a good bet IMO. OKC are good but not too consistent, the line seems very good for all of us Wizard backers, they can even with straight up so the moneyline could be a great bet as well.
5572  Economy / Economics / Re: Spending Bitcoins on: November 30, 2016, 08:11:28 AM
I had a situation that forced me to sell my bitcoin recently, but im expecting to collect more bitcoin over the years, and be able to save them instead have to exchange them. The fact i do wanna to save is that since i joined bitcoin im able to see it getting more and more value over time, soo i believe i may get the gold eggs with bitcoin.
Collecting Bitcoin is the best way to earn profit from it. As you can see, Bitcoin price always increases and there is no sign that Bitcoin will die or the Bitcoin price will fall. If you can maintain to earn a decent amount of Bitcoin, you can easily be rich in the future. At present, I try to convert my Fiat to Bitcoin as much as possible.
Well i can see you haven't been in the bitcoin world for long because the price does not just keep going up, infact the price got to $1300 usd per btc just before the MtGox collapse then dropped right back down to about $150 usd i think it was.
The price took another hit after the bitstamp hack so.

Dont put all your eggs in one basket, bitcoin is still only new any any alt coin could one day surpass btc, although unlikely at this stage.
That seems to be a very good advise from the veteran in the game, it's true the price is not consistent as we think and looking at the price history of bitcoin you can tell that it is not that strong as we expected. The price movement is not normal as it dump and pump and may happen in the future.

We have to be careful with our move, don't use bitcoin as the answer of our problem to live a comfortable life as it's risky and it's like you are gambling your future here.
5573  Economy / Gambling discussion / Re: Why is gambling so addicting? on: November 30, 2016, 08:03:51 AM
Gambling is very addicting because of the fact that its easy and very enjoying for a very long time these days.

This is a sure thing if you are not that responsible enough when you get to attached with gambling and you are aiming too much with it.

Together with its enjoyable activity that gives us it is not the main reason why we are being addicted with it, most of us are addicted because of the chance of getting some profit.


It's almost the same thing, whether you are after of the profit of the entertainment you will still be addicted when you are too attached with gambling. My definition of gambling attachment is when you do gambling regularly and you spend most of your time with it.

The problem when you get addicted is you cannot balance your life and the worse thing is gambling would be your main priority.
5574  Economy / Economics / Re: Bitcoin is Becoming a Global Currency on: November 30, 2016, 07:51:30 AM
India is gravitating towards being a cashless society, I can see Bitcoin would gain a lot of traction in india during that time.

I suppose only one way to find out, shouldn't be too long now if they follow up with what their government said.

Yeah, exactly, because recently, India government has banned their 500 and 5000 notes that's why people suddenly turn the bitcoin, and using it in transactions. May be it is a reason.
But about the thread, i think that bitcoin is a global currency, because it is used in all over the world and people use it in different ways of saving, trading and gambling and also different transactions.
We have the same understanding on the current status of bitcoin, it's definitely a global currency which made us connect from different places of the world. Here, we have complete freedom on what we want to do with our bitcoins, we can use it as our capital to grow our finances and at the same time we can enjoy here through gambling with our bitcoins.
5575  Economy / Gambling discussion / Re: What is your average bet per game? on: November 30, 2016, 03:28:38 AM
Do you bet big like 1 BTC in hope to win 50 BTC with a huge risk or do you do small bets?

Bet big to win big? Or bet small over a long time to be safer?
Usually, I did not bet a big amount since I cannot take a huge risk and I don't have enough bitcoin if I lose it, better to bet what you can afford to lose, Just like eann014 say once you have played in gambling and you lose a big amount it surely you will go back in gambling and the worst scenario is if you have it again, play the game for more than you can afford to lose. ;-)

If I'm not mistaken there is a case in JackpotRacer that their player only bet small amount of satoshi's and in return he won a lot of bitcoins. I don't know if that is legit enough to believe that we can win in gambling just for small amount. But I think that is legit enough and that is making me inspired that I don't have to bet big amount just to win big profit.
In any way it's possible to win big amount with your small bets, however the chances are very slim and you might end up waiting for the time to make your wish happen. Look at the lottery bettors, they are betting for many years hoping to hit millions but until now they are still wishing.
5576  Economy / Gambling discussion / Re: MY gambling strategy to limit loss and make btc on: November 30, 2016, 03:20:41 AM
Yes, no strategy will make you rich in gambling, but to control your loss in gambling, you should make some strategy otherwise you will all money. The plans will limit our loss and sometimes it will give some profit. So don't play gambling especially sports betting or poker games without a strategy. In slot games, i agree no strategy will limit our loss.

There are strategies that will make you rich in gambling, see those profesional poker players!  And those big time sports betting player!  Sometimes we need to look around than just say what is in our mind.

That is applicable if you are also good in poker but if you are not then you need to study poker first. Because there are people who are earning a lot with poker and by joining a lot of poker tournaments. But they are already rich enough and even they will loss some bitcoins they don't care for they afford to lose a lot of it.
Like it has been said many times, skilled base games such as poker gives us more chances to be successful in gambling. And when we're serious about our journey in gambling, it's necessary that you are confident with yourself that your good enough to outsmart your opponent, otherwise you'll end up with a big loses that make me you bankrupt.
5577  Economy / Gambling discussion / Re: In what gambling games are you good at? on: November 30, 2016, 03:03:46 AM
I am playing dice and slot the most so I am good at both of them but in dice I can get more chances to win because I try to use my mind to predict the system of the software and try to go according to it and I get a good income from there.
With respect to you, I don't think we can be good in dice if the way to determine it is base on profit. Dice games has a house edge so we'll gonna lose in the long run, maybe you are just lucky but do prepare for the time that may come you will experience some cold streak, that's how math work in dice.
5578  Economy / Gambling discussion / Re: what is definition gambling in your mind? on: November 29, 2016, 03:39:28 AM
I don't need to think, gambling is type of investment, investment is when you give money and you expect profit, gambling is same, you give money and you expect profit. It's very easy to understand, I explained the simplest possible.
Game is something else, but its very wide term, game can be almost everything that depends from perspective.
You argue for almost nothing.
Basic definition of gambling is not investment in the first place, it's an entertainment wit the requirement of putting money to quality to win or to lose depends on how you manage it. However, it's something that only gives us a small chance of making money compared to real investment like stocks or your personal business.

Gambling is not taught in school so no way we can master this while when we are investing we can have a good reference as most legitimate kind of investment has some method and techniques on how you can operate successfully.
5579  Economy / Trading Discussion / Re: Skills vs Luck *poll* on: November 29, 2016, 03:21:40 AM
In my opinion you definitely will need elements of both. Even if you have excellent skill when you trade there is a risk of another whale playing against you that can move the market the opposite direction that you want it to move.

Trading is a bit like gambling, just with smaller risks.
I agree, to be able to get some profit you must have that both. you need skills to know what you should do and luck to make it possible to happen.
but i guess the thing that have most effect most of the times is just skills
luck only come randomly to you
while skills always there in every session you trade
so the conclusion for me skills more important than luck , as you never know when luck come.
Well, your skills will not ensure you that you'll make profit all the time but it gives you a confidence that in the long run you will be successful. Successful in the sense that you will be able to be profitable in trading, put in your mind and in your heart that everyday is a learning experience and the more time and effort you devote, you will be rewarded in the future.
5580  Economy / Gambling discussion / Re: Everyone looses in the long run on: November 29, 2016, 03:08:31 AM
Greed is indeed the key issue in any gambling that exists in the world and most of them are also becoming greedy people will even be someone who had a bad life. because all funds they have lost only to use for gambling in which they only get a big loss. So if we want to get something beneficial in gambling then we must eliminate appetite and never greedy
In one sense everyone is greed as everyone is continuously struggling for making money, and I never saw a single person who have stop earning because he considered his earned money enough for spending life. Therefore everyone is in fact greedy. So, it will be obvious with failure of emotion control, everyone will lose in gambling for sure.
Consider gambling as a way to get extra money and fun, not an earning for life and not get addicted to it when you winning is the key not to losses.
Moreover, we already realize that gambling is so risky and we put money with high chance to lose it, so don't expect to much when you gambling, greedy won't help you win the games.
Sorry, I don't see it that way. I choose only one between the two as it's the proper way to manage it, when you are doing it for fun, you must focus with it and no other hidden agenda. The problem with us is we mixed things that's not effective when mixed, if we aim for money then we should focus on our method as it's a hard journey for all of us.
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