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Advantages of gambling? Well... you can look at it from two different ways: from a gambler's perspective, and from a casino owner's perspective. From a gambler's perspective, the advantages can consist of mostly entertainment. I guess in a sense, you're paying for the entertainment and a possibility of getting your cash back. That's kind of a better way to have fun, since you're able to have a "refund" or even potentially profit. That could be appealing.
Casino owners... (heh) that's completely different. They have the advantage of getting statistical profits from the betting. A minor house edge can give them profit, and another great point is that gamblers can habitually return and make impulsive decisions as to gambling. It's a great way to risk money, but hopefully players return (which is likely to occur) and you recover any possible losses.
My thoughts.
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To be a millionaire by 2030, the price of a single bitcoin would have to have risen to $100,000 USD (I assume you're in the United States, and typically people are using the dollar a lot to discuss the prices) and that's a pretty high amount. I have to doubt the possibility of that. 14 years of time is definitely not enough to push the price by 227x its current amount. That right there is a 22700% increase over 14 years. Unless there's some magic uprising or a seriously large amount of people investing an even larger amount of money into bitcoins, the price cannot rise by that amount.
My input.
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This game is sketchy as shit, I lost the first 5 games I played on the first step.
90% scam.
90% scam? Where's the 10% doubt, and why do you have such a high probability of belief that this website is scamming? Oh no, you lost the first 5 games you played... Was it on 66% win rate, 50% win rate, or 33% win rate? Depending on what you say, although there's no guarantee of whether or not BitKong is reliable, it's still statistically possible to lose your first 5 games. Besides, if they were scamming, why would they make you lose so early (and I assume with little money)? Wouldn't they reel you in so you can bet a higher amount? Gambling is all about luck, and perhaps you were just unlucky. Tried again since you guys are claiming "variance".. which is what all lying cheating scam casinos claim when they rip you off.
So since the very first time I played I apparently had athe worst variance in the history of the world losing every single bet i made on the very first click, I tried again.
This time I played the medium board. There are two choices on every row, supposedly a 50/50 chance.
I made 200 bets.
I bet on the same column every time. If this was 50/50, it should even out.
Results were that it would LOSE on the first click about 5 - 15 times in a row. Then it would win 1 or 2 times, then would lose 5 - 15 times, then win 1 or 2 times. So that didn't seem like 50/50.
overall results..
first row only, taking the win after 1 click if I win.
172 losses
18 wins
yeah that sounds like 50/50
let me guess, bad variance again?
so every time i play bitkong it just happens to be the worst luck day of my life, only surpassed by the last time i played bitkong.
I Don't think so smart guys
Next I played where i would try to go to the 2nd row if I won on the first one. Results on first row were about the same. Winning 1 for every 10 losses. 2nd row bets lost 9 out of 10 times as well.
I was goign to continue testing, but I think the results speak for themselves.
And provably fair can be rigged and cheated if its not done correctly adn I guarantee none of you knuckleheads have the technical knowledge to figure that out.
I do, but I don't need to waste my time, I can already tell from the results that the game is completely rigged and unfair.
Cheating assholes.
Watch your back bitkong owner, ill be looking to catch up to you when you least expect it and stomp the life out of you.
Stupid. I call bull. Probably just someone who lost a small amount of bitcoins and is looking for an excuse and raging. |
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I think the most remarkable thing on that Leaderboard is not Hufflepuff but the guy who managed to make 110 coins profit with just 147 bets. This is what I call luck  Probably just starting with a bankroll that's large profited them that amount. You also have to remember that early adopters of Bitcoin could have mined a pretty large amount and played in Primedice in its prime (heh heh) and used their large sum of bitcoins there. Hey, I think we know who the real winners here are, though. Primedice. Imagine the huge amount of money they earn, with all the traffic and gambling. Look at the losers leaderboards. Wow! Insane. What's really stupid is seeing people unaware of how Hufflepuff cheated. Psh... comment away, spam the same thing about the "massive win" from Hufflepuff without reading anything first. |
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200 bitcoin equates to just over 87,000 USD based on the current price. I wish I could have landed that kind of win, what a lucky guy. What's his story, is he an uber rich early adopter or just a lucky, crazy gambler?
No story, just normal guy passing by leaving footsteps. =D Some of my gaming sessions. Its not updated tho. Lazy to update lol. You see, im not always lucky [snipped] also https://bitcointalk.org/index.php?topic=395617.msg13878288#msg13878288So, it seems you've been really lucky in the past... Is your total profit still positive? I'd like to think that you are, after this huge win, but surely you must be a pretty habitual gambler over a long period, seeing your history and strategy of depositing a huge amount of 5 btc. Your slots win was also pretty impressive, but I personally thought it was really risky and impulsive. I guess you have a lot of cash to play around with? |
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Although I love the idea of having a way to earn bitcoins by gambling in a game that requires strategy and skill, I feel that the lack of a larger player base really affects the game. With fewer people, it becomes much less energetic and fun and you'll get into a duller game with a higher chance to stay where you are (if you are eliminated in a small game, chances are you won't be able to return easily). Another thing I seem to have a problem with is joining the faucet game. I'm trying to figure out the mechanics of the game, and so I wouldn't exactly want to hop into a paid round straight away.
Lastly, the logo in the top-left of the homepage is a little bit cramped and feels like there's too much stuff in there. That's just my personal opinion, though.
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After a few days of betting, player called "zhent" managed to somehow win 200 BTC at betking.io What are your thoughts how is it possible some people manage to win so much? Just a matter of luck or is it the bankroll that is the key? It's very difficult to win with a very limited bankroll and it's coming from experience  A post of the winner on BetKing thread: https://bitcointalk.org/index.php?topic=910134.msg13880555#msg13880555 Both luck and bankroll are deciding factors for how much you'll win. Obviously, if you have a large bankroll you have more chances to win, and it coincides with your potential profit. Though, the problem is, your risk of ruin increases... Do you really want to risk your entire bankroll on these bets? Jeez. Most likely, he gambled pretty seriously and he might have bet extremely high amounts. It's incredibly risky to do that. |
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For me this is the only ponzi kind of site , that can be sustainable , i only think that the maximum investment is too much .
I thought it myself but i have no programming skills
This is not going to be sustainable. As soon as people see that they won't get their investment back, no new players will come and the large investors will be denied their coins. It's... not going to work. Not for long, unless there's a crap ton of investors coming in. But hey. You can try. |
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How is it bad for my country if I send my bitcoins to another one without telling them? The amount of money in the economy of my country will remain the same, so I don't see how it can be a lost.
It's not bad. You didn't impact the economy with the bitcoins because bitcoins are not exclusive to your country. If anything, you only slightly changed it when you bought it (I'm assuming) with your country's money. Otherwise, there's nothing you need to worry about. Besides, you should concentrate on Bitcoins more if there's inflation or some nasty thing going on with your currency. It could prove to be a more stable currency than yours. |
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Well, it is a hobby, sure. An expensive hobby, though, for that matter. When did you start betting here, since you lost 8.5+ bitcoins on this? 3690 USD is quite a bit of cash, but if you've bene betting for a long time, and feel that the fun was worth it, then it might have been good: adding this could be a form of stress relief.
Just don't let it go too far - martingale strategies sometimes are really drastic, when you start betting hundreds of dollars to gain a profit of a single dollar.
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If even half of the fast food chains in the US accepted btc, I bet the price would sky rocket.
I don't see any correlation between acceptance by general services and bitcoin price. Care to explain? The correlation lies in the demand of bitcoins from markets. Imagine: half of the fast food chains in all of the United States (which is a ridiculous amount) states that they accept bitcoin. Suddenly, that gives bitcoin more publicity and demand (from the chains) and would interest more people to join in the fun. Eventually, you have the general public being knowledgeable about bitcoin (even a little bit) as a payment option and perhaps some will delve deeper. This creates more trading opportunities... Plus, it could remove the negative media portrayal of how bitcoin is shifted at least a little bit. |
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Dang, you must've been betting crazily! Think, though... when was your threshold (where you decided to stop) if you started to lose? I'm pretty sure that you would have a thought process in which you would continue for a long period of time before stopping (or even not stopping at all) if you were able to generate that kind of profit.
What was going through your mind at that point?
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I've lost over 10BTC in the past three months, and let me tell you. Stopping isn't as easy as you might think. I don't know why I keep doing it but I do. And the result is always the same.
Net Profit: - 5.500BTC
Sometimes I play Black Jack, sometimes I play Dice. Most of the time it's dice, and that's basically where I lose all my money. Nothing ever works. Martingale: Nope. Reverse Martingale: Nope. All in 80-90%: Nope. Spamming 97% win chance: Nope. I wish I could stop lol
I can agree with this. Gambling is a habit that is incredibly difficult to control, as all addictions do. In the spur of the moment, you impulsively make decisions, and personally, my emotions control me greatly, even for a long period of time. It's crazy seeing how you are rash to betray logic in the face of your addiction. Terrible, gambling is, but if you are able to control yourself, then that's incredible. |
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... Aren't there like 5 more threads like this one?
Pertaining to the question now: One would suppose that it is accurate to buy bitcoins as a sort of risky investment. I would suppose that although there is no guarantee as to whether the price of bitcoin will rise or drop, people have high expectations for it to increase, and as a result, the bullish trends push it upward. With this somewhat upward rise, it would be an incentive for new players to join in on the bitcoin game, and the reasoning is most likely purely to invest in the coin and see a profit.
Personally, I have faith in bitcoins or at least, the foundation of what structures bitcoin. The blockchain is a marvelous creation, and by buying I support this idea.
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Sigh. People are so stuck on the whole shipping thing that they overlook the fact that it can appeal to people in the local area. They can just simply add a Bitcoin payment option as well as the usual payments. If you really want to ship worldwide then it would need to be chock-full of preservatives, and I'm pretty sure that if OP plans on charging $2.65 for each cupcake, then they're going to be of pretty high quality (or large) and would not include the aforementioned preservatives.
Though OP has not disclosed their location, it should be noted that there would likely be some Bitcoin users in the local area, and if there aren't, then it would bring forth more publicity to Bitcoin. This is a good thing.
Note: OP has not been active since October 14, of last year.
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Well, the Bitcoin price DID reach 1K... in Brazilian Reals. OP had way too high hopes for Bitcoin. It's alright to expect a high price, but not in a short span of time. Back at that point, the price was $443. Way higher than what it is right now, but there wasn't a conceivable way for the price to jump straight up to $1000 unless there was a huge surge of new players to come in and invest in Bitcoin, skyrocketing the demand. I believe that OP had thought it would be a trend, like in November and December when the price bubbled up $100, but it wouldn't have been logical to have the price increase by nearly $600 in the span of a few weeks.
Don't get your hopes too high, but keep them maintained.
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It's funny to see how some people don't read the thread and go straight into an ignorant reply, talking as if OP had posted this just yesterday. As for what had happened, back in 2011 when the price was at $20 people would have been inclined to sell. Imagine at this time if the price went up to $500, or $600. We would be inclined to sell our Bitcoins, just as much as OP. However, since the community now has developed, our views on Bitcoins are a bit more concrete and the number of people with bearish interests has dwindled since its time in 2011. Suffice to say, a smaller majority of people had high hopes back then, but of course, they weren't in the 1000s range.
Suppose the price does reach $1000 again. Would you sell, like OP? Or would you continue holding? If you had a lot of faith in Bitcoin, you would hold the coins, but I'm assuming that most would sell at least some of their coins. OP's decision wasn't that hard to understand.
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You could give yourself a moral responsibility when you're buying products, but in reality, the only way to create some change is to be at the top of the chain, and by that point if you wish to keep your position you would have needed to confine your morals. It's... cheap labor that the impoverished countries provide for us. That is their economic role.
When you do your day-to-day tasks, do you think about suffering Africans? Most likely, you wouldn't, since they're not a large part of your life. Rarely do people go out of their way to help and donate to these people, since although they can complain about it, they do not truly care. People love to talk, but they never take action.
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Proof of ownership:
-----BEGIN BITCOIN SIGNED MESSAGE-----
I am TheLedger from bitcointalk.org, today is 04/02/2016.
-----BEGIN SIGNATURE-----
1CuknJJHNHRAV93XBimNuMJAFZoHiRAPhY
Hz0vIkJD26146nzYaF8IFbzydeycJ/zxCsGWgqERPZ4meG6IJDxRX3VwSBQMsc73r30tivU8PhQqFUqNoCz3kKI=
Verified and quoted.  |
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