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821  Economy / Gambling / Re: 🚀 Sportsbet.io - Poker Today! 1BTC prizepool! Free Watford EPL shirt for entry on: June 14, 2020, 09:44:19 PM
Good luck to you guys figment and arallmuus Smiley

thanks! i'm currently in 12th, @arallmuus is in 6th with a pretty commanding stack. only 22 runners left, 4 more knockouts and we're past the bubble! Lips sealed

thankfully JJ held for me vs KQ, and KK held vs A2 so i've got a decent stack to play with despite sportsbet's ridiculously fast blind structure.

mccormack is still in the game in 19th place, so the bounty is still active! Smiley

EDIT: and mccormack is out. he shoved QJ into AJ and lost. too bad---he was right to my left with less than half my stack. Sad
822  Economy / Service Discussion / Re: The Netflix of Crypto? on: June 14, 2020, 09:38:05 PM
I would guess at a minimum 20-30% of streaming subscribers are people who wouldn't continue paying if they had to actively initialise the payment each month. They never quite bother to cancel so they stay locked in.

damn, good point. this could of course be done with scripts (and an online wallet) but until it's a streamlined part of wallet UI (dummy proof and easy) this is problematic for adoption among subscription services.

Crypto would be the companies' least welcome payment method by a country mile. Users would become much more choosy and conscious of their outgoings and a vast percentage would vapourise instantly.

maybe. users love spending capital gains though. bitpay has shown data indicating that people spend more after increases in price: https://qz.com/931810/cheapair-and-bitpay-data-show-rising-bitcoin-btc-payment-volumes/

the optimal route is obviously to support crypto alongside traditional methods.
823  Economy / Economics / Re: US economy wouldn't be shut down again despite the rising case count on: June 14, 2020, 08:56:28 PM
infrastructure---road, bridge, etc building. that's a classic job creation stimulus technique that trump has shown great fondness for. e-commerce (amazon and other online shopping + delivery venues) is always growing fast in these times. the government could find ways to incentivize large scale e-commerce employers to expand their payrolls.
Indeed the infrastructure development sector is still a megaproject that can bring many industries and supporting services to life. It's just that in the present conditions with a budget deficit, infrastructure projects cannot be a solution.

budget deficit or not, trump now wants "at least" $2 trillion in another stimulus bill: https://www.cnn.com/2020/06/13/politics/navarro-white-house-coronavirus-stimulus/index.html

it's funny---the stock market takes a dump and all of sudden trump wants another huge stimulus package, much bigger than what senate republicans want. Cheesy

his focus now is apparently on manufacturing though, not infrastructure.
824  Economy / Gambling / Re: 🚀 Sportsbet.io - Poker Today! 1BTC prizepool! Free Watford EPL shirt for entry on: June 14, 2020, 08:23:14 PM
Congrats buddy. Take it down.

still doing okay, in 7th at the moment. got in KK vs AK and it held. 76 remain, top 18 pays. let's see.....

Still would like to see better bet control it takes entirely to long to manually bet if you don't want to tie into your time bank. A window so you don't have to have the sportsbet home page open in the background.

in the tournament lobby area, switch the button that says "multi-window table mode" on. it'll create a pop-up for each table.

the betting interface is pretty tilting for me, not super intuitive and indeed takes a long time to manually enter bets.
825  Economy / Gambling discussion / Re: Bitcointalk Poker Series format discussion - Let's keep them all in one place. on: June 14, 2020, 07:59:15 PM
A lottery gives them the incentive to participate and even if they don't finish in the points and thus have no shot at the Grand Final, they will get tickets for the lottery with each participation. (And a spot for small final)

You need to have a good foundation for such a series, i.e. regular players. The players that will leave, are the ones that only ever contribute to the pot, but never (are able to) take anything out of it. You have to make sure, that these players have an incentive to keep playing. A lottery (maybe) does that.

+1, i think that's really important to consider. a luck-based incentive (sort of like bad beat jackpots in cash games) could have a strong retaining effect on casual players, especially in the second half of the series.

i would also be open to something like 150 chips towards the lottery + 150 chips towards paying out the top 5 in points. i dunno if that's getting too complicated (1000+200+150+150) or too high of a total buy-in (1500 chips) but it would add another skill-based incentive to even things out.

i still think the runner's up tourney should be open for anyone who played x number of games, like a consolation tourney. only 3 people are gonna cash in the championship after all.
826  Economy / Gambling / Re: 🚀 Sportsbet.io - Poker Today! 1BTC prizepool! Free Watford EPL shirt for entry on: June 14, 2020, 07:20:46 PM
92 enrolled so far, hopefully we can get to 100+ in the next few minutes. Even a top 15 prize is a great one so it pays to play it slow and tactical.

exactly 100 runners---18 places paid, with the last payout ladder getting 0.018 BTC. good luck everyone!

i was dealt AA first hand of the tourney, and i managed to get it all in against KK. what a cooler! sorry @Asad321! the flop was scary as hell---3 hearts, he had Kh and i had no heart---but my pocket rockets held. that got my heart pumping!
827  Economy / Gambling discussion / Re: Poker talk - Specifically Hold'em - Hands and or strategy on: June 14, 2020, 06:58:32 PM
here is a spot i ran into yesterday, relatively early in a small buy-in MTT:

Quote
Level IX (75/150)
9-max (5-handed)
BB: Hero (3,728 in chips)
BTN: Villain (3,269 in chips)

*** HOLE CARDS ***
Dealt to Hero [Ks Th]
Villain raises 310 to 310
Folds to Hero
Hero calls 160
*** FLOP *** [Qh Kc 4s]
Hero checks
Villain bets 210
Hero calls 210
*** TURN *** [Qh Kc 4s] [Ts]
Hero checks
Villain bets 595
Hero calls 595
*** RIVER *** [Qh Kc 4s Ts] [6c]
Hero checks
Villain bets 2,139 and is all-in
Hero?

i hated playing this passively OOP and the T on the turn was such a troll since it made AJ and J9 straights.

how often does villain have a straight, KQ, or set? i felt like i was inviting him to bluff the river (missed straight/flush draws or weak pairs)......i'm just not sure about this spot.
828  Bitcoin / Bitcoin Discussion / Re: India may again ban cryptocurrency on: June 13, 2020, 09:23:53 PM
the article is very speculative. assumptions about the draconian nature of the bill are apparently based on the failed/withdrawn bill from 2019, but until the bill leaves panel or is otherwise leaked to the public, i don't think anybody knows what it says exactly:

Quote
“It’s not clear whether the finance ministry intends to work upon the old draconian crypto bill or whether they plan to work on bringing a new bill,” noted Nischal Shetty, CEO of Bitcoin exchange WazirX, in his latest statement, adding that “I’ve also said it before, that when it comes to regulating crypto, I’m positive that India will follow the footsteps of developed countries like Japan, USA, UK, Australia, and more.”

is there even any indication that a similar bill could pass in the parliament? any indians around here with some insight into the legislative atmosphere?
829  Economy / Gambling discussion / Re: Bitcointalk Poker Series format discussion - Let's keep them all in one place. on: June 13, 2020, 08:57:47 PM
I don't think we should touch those 200 chips per tournament for grand prize. Lottery sounds like a good idea, but maybe it would be better to add more chips for that? Another 100 or 200 chips?!

+1, i don't wanna take away from the championship prize pool. that should still be the #1 incentive. i'm okay with adding an additional buy-in of 100 or 200 chips. so 1300-1400 chips total per game.

Also couldn't join this from the uk. Redirects to a no poker version. I don't know what other countries are affected.

VPN from germany seems to consistently work, although i am slightly paranoid about having to withdraw larger amounts without KYC.

Quote
per every 10k chips, one prize is created for the lottery, so 29k chips = 3 prizes á 9666 chips, only one prize per user max.

aiming for 3 prizes is probably a good structure. at first i was thinking flatter maybe (more prizes) but nearly paying for all the series buy-ins seems like a good lottery prize.

how does everyone feel about 1000 chips regular buy-in, 200 chips towards the championship, and 200 chips towards the lottery? = 1400 chips total per game.
830  Economy / Gambling / Re: 🚀 Sportsbet.io - Main Club Partner of Watford FC ⚽ Fun. 🏀 Fast. 🎾 Fair. �� on: June 13, 2020, 08:43:29 PM
You can see that part on the site when you check tournament under prizes tab. Actual prizes depend on the number of people that join the tournament. More people means more paid places means smaller individual prizes.

At the moment there is 18 players and prizes as follows:
1. 40% - 0.4BTC
2. 30% - 0.3BTC
3. 20% - 0.2BTC
4. 10% - 0.1BTC

For example if there is 37-50 players which seams reasonable to me, first place will be 0.29BTC and and 9th place will be last paid one with prize of 0.04BTC.

37-50 would be reasonable. i would be very surprised if there was 100+ runners based on their normal traffic, so i'm expecting at least 0.018 BTC guaranteed for the lowest payout ladder, probably more.

overlay guaranteed tournaments tend to bring out way less players than freerolls so this should be pretty EV+.

then again, the watford jersey incentive is also there so we'll see.
831  Economy / Economics / Re: FATF meeting about crypto on: June 13, 2020, 08:17:59 PM
right, so we're in the exact same situation we were in a year ago when the travel rule was originally published. Wink

the FATF and national regulators are no doubt coming, but they move at a snail's pace. my comments were a direct response to this:
Quote
every single user should provide the exchanges KYC information otherwise they will easily block their funds.
Binance causing problems to users withdrawing to Wasabi wallets, more exchanges asking about source of funds, I wouldn't say we're in the same situation as a year ago.

all of that was happening a year ago. bitstamp began EDD with source of funds questionnaires in 2015, with more exchanges doing so every year since then. and the binance.SG incident simply went viral on crypto twitter, that's why people are aware of it. here is another instance from over a year ago where a bitfinex user was questioned about coinjoin transactions and subsequently had his account closed: https://www.reddit.com/r/WasabiWallet/comments/beqj8r/bitfinex_lock_account/

i feel like you're taking me out of context. i'm not saying "literally no exchange has changed their AML/KYC policies in the past year". i was responding to someone who said 1. this FATF meeting in 2 weeks is a good reason to now verify on exchanges, and 2. implied this FATF meeting will immediately catalyze major changes across the industry. the june meeting last year certainly did not do that, although i was shitting bricks at the time.
832  Economy / Economics / Re: US economy wouldn't be shut down again despite the rising case count on: June 13, 2020, 08:03:03 PM
I'm expecting the next phase of the US decision to be on massive job creation because closing down the economy has led to job cut which has a dwindling effect on the economy. Therefore, for a rapid and multiplier effect jobs have to be generated so that it will cushion the hardship in turn boost the country's gdp.
The problem is what sector that will create a massive job that you have describe? Every industry has been affected, and to get the economy moving again, business should open. But with the social distancing, I don't think that the economy will create more jobs.

infrastructure---road, bridge, etc building. that's a classic job creation stimulus technique that trump has shown great fondness for. e-commerce (amazon and other online shopping + delivery venues) is always growing fast in these times. the government could find ways to incentivize large scale e-commerce employers to expand their payrolls.

Electrions are coming soon and Trump really doesn't want to have them during a deep recession and unemployment crisis. There probably will be some attempts to cover up the coronavirus death toll in the US to make it look like things are under control.

My country recently stopped our quarantine, and a week after that new cases and deaths are at all time high, and it's quite worrying. The same might happen with the US.

it's already happening. the rise in cases seems to be worst in states that reopened early. in some places this can be blamed on more testing, but in others hospitalizations and deaths are clearly rising which is quite worrisome. https://apnews.com/feb4c26d9364497cf82ee7c0c1b1b3d5
833  Economy / Gambling discussion / Re: Bitcointalk Poker Series format discussion - Let's keep them all in one place. on: June 13, 2020, 07:49:48 PM
@tyKiwanuka I dont think our prizes are bad tbh and I had talks with sportsbet, they weren't too interested plus their software sucks big time indeed...

+1, it's just awful. i hope for their sake they have plans to revamp it or find a new software provider. i'm sure it's part of the reason their poker room traffic is so low.

Would it be ideal to have a series running over 2 months to make it 8 tournaments? Probably not...

i actually thought this is what we were doing---a weekly game + finale in 2 months. that's cool with me. 4 games is definitely too short.

i'm also fine with 2 games per week but i know some people can't free up that much time. therein lies the problem.

- Don't worry about runners-up tournament - there will be one next time, I will take care of that Wink

great news! Smiley

- Do you think we really need to adapt the current points/leaderboard structure?

not a big issue, but i can understand the desire to smooth out variance a bit and award for points.

@tyKiwanuka I LOVE that lottery idea and since I just stated I will keep collecting the extra chips, I don't mind collecting these funds. Question: Would you guys be okay with paying 300 extra chips and take aside 100 for the lottery or would you prefer deducting 100 chips from the Grand Final prize pool?

i prefer paying the extra chips.

- eligible for small final: tyKiwanuka, SyGambler, Improved, Trofo, BitcoinGirlClub, morvillz7z, jayce (too few, but should get better with new structure

i think everyone who meets the minimum requirements should be eligible. it would be a nice consolation for those who don't cash in the final.
834  Economy / Gambling / Re: #2 Bitcointalk Poker Series (0.05 BTC & BIG BTC Ticket sponsored by SwC Poker) on: June 13, 2020, 06:46:36 PM
I am torn. I wasn't sure if I'd have the ticket for this Sunday so when I saw the other large guarantee tournament running I jumped in that. I'll weigh my options and might just play both.

do it up, MTT sunday. running good in both the sportsbet.io 1 BTC tourney and the BIG BTC would make for a hell of a day. Smiley

i'm gonna play in the SB tourney and probably the LITTLE BTC. there's a BIG BTC satellite starting at the same time as the SB tourney so i might take a shot at that.
835  Economy / Economics / Re: FATF meeting about crypto on: June 12, 2020, 11:17:09 PM
exchanges don't answer to the FATF. the travel rule relies on governments implementing it via national legislation. first comes national regulation, then come government crackdowns on non-compliant exchanges.

based on the FATF's usual MO, they will probably just issue a report saying the vast majority of countries are currently outside of compliance. big deal!

i do expect that exchanges will gradually become more stringent with AML/KYC in response to an increasingly restrictive regulatory atmosphere, but this doesn't happen overnight. this meeting is definitely NOT a reason to rush into giving KYC documents, especially where it's not required.
Yes, exchanges won't answer FATF, But they usually answer the governments, unfortunately. So, if the FATF start convincing governments and force them to ask the exchanges for KYC this will happen.

right, so we're in the exact same situation we were in a year ago when the travel rule was originally published. Wink

the FATF and national regulators are no doubt coming, but they move at a snail's pace. my comments were a direct response to this:

Quote
every single user should provide the exchanges KYC information otherwise they will easily block their funds.

i would never give up my ID documents unless it was absolutely necessary.

suggested reading: https://bitcointalk.org/index.php?topic=5221497.0
836  Economy / Economics / Re: US economy wouldn't be shut down again despite the rising case count on: June 12, 2020, 11:01:17 PM
Quote
Treasury Secretary Steven Mnuchin said the US economy wouldn't be shut down again despite the rising case count.
"We can't shut down the economy again. I think we've learned that if you shut down the economy, you're going to create more damage, and not just economic damage, but there are other areas," he told CNBC in an interview.

i'm seeing contradictory messages from the trump administration. according to the CDC earlier today:

Quote
"If cases begin to go up again, particularly if they go up dramatically, it's important to recognize that more mitigation efforts such as what were implemented back in March may be needed again," Butler said.

He said the decision to reimplement measures will have to be made locally and based on "what is happening within the community regarding disease transmission."

it's really not up to mnuchin or trump. the CDC is acknowledging that decisions re lockdowns will continue to be made at the local level. if cases continue rising like this, then some governors are eventually gonna shut things down again.

if that happens, it's gonna crush the markets and any hope for a sustained economic recovery.

Why would they shut it down?

the same logic that brought the lockdowns in the first place: an exponential rise in cases can lead to the health care system being overrun. at that point, non-coronavirus urgent care will become neglected, leading to a much higher death toll than the epidemic would cause alone.
837  Bitcoin / Legal / Re: Tax Obligation : 1099-B Cash App on: June 12, 2020, 10:33:41 PM
I found posts on reddit where a cashapp rep was telling people they would receive a 1099-b if they transferred the coin off the wallet also.

i don't understand how that works since they wouldn't be able to determine gross/net proceeds or really any of the information required by the 1099-B. i'm guessing the reddit rep was misinformed or there was otherwise some miscommunication or misunderstanding.

you can see who must file a 1099-B here under "specific instructions": https://www.irs.gov/pub/irs-pdf/i1099b.pdf

i don't see how someone only buying/withdrawing BTC fits any of those conditions, or why square would spend time/money sending 1099s when they aren't required.

I'd rather not fool with taxes at all at this point since they don't show the cash basis on their app at all.

not showing basis just means the burden is on you to track and report all your gains and losses, instead of relying on what square reports.
838  Economy / Gambling discussion / Re: Bitcointalk Poker Series format discussion - Let's keep them all in one place. on: June 12, 2020, 10:03:30 PM
Don't know if you guys seen it but Steve has been a gentlemen and invited all of us to very nice tournament on Sportsbet. It is this Sunday evening 2 hours later then our usual games. 2 mBTC buy in and 1 BTC in prizes + Watford FC jersey for basically all registered players if I got it correct. That is an offer I can't pass by and probably most of you as well.

i'll be there for sure. i'm anticipating a huge overlay, maybe 0.8 BTC or more, considering the weekly freeroll only draws 200 runners. i can't really take delivery on a jersey (i'm in the states, shhh!) but oh well. the prize pool is fat enough on its own. Smiley

I propose to give efi some more time to arrange everything with SwC and start our series next week so we can give our best on this one this week.

there's no way anything will happen with the series by this weekend anyway---next weekend at the earliest.

i hope we can hammer out some of these league/format decisions in the next few days so we're all set for the 21st.
839  Economy / Gambling / Re: 🚀 Sportsbet.io - Main Club Partner of Watford FC ⚽ Fun. 🏀 Fast. 🎾 Fair. �� on: June 12, 2020, 09:48:11 PM
Also, a surprise for you guys only here on BTC Talk forum.. we have a separate private poker tournament being run Sunday afternoon and the Marketing team reached out to me and asked if you guys would be interested in joining and playing..
I said 'sure they will'!!  A massive prize pool on offer too.. 1 BTC prize pool!

For existing players, you get the bonus of not having to create a new sportsbet.io account.
Check out this link for more details and the password Smiley >> https://www.whatbitcoindid.com/sportsbet

A big big weekend ahead and good luck!

awesome, i'll be there. i assume there will be a very nice overlay with most of the freeroll hunters gone. Smiley

good timing too since we're in between series in our bitcointalk poker league---no games happening this weekend.

thanks, steve. see everyone on sunday!
840  Economy / Economics / Re: FATF meeting about crypto on: June 11, 2020, 11:09:26 PM
Can't be sure, But in my own idea, soon, every single user should provide the exchanges KYC information otherwise they will easily block their funds.

exchanges don't answer to the FATF. the travel rule relies on governments implementing it via national legislation. first comes national regulation, then come government crackdowns on non-compliant exchanges.

based on the FATF's usual MO, they will probably just issue a report saying the vast majority of countries are currently outside of compliance. big deal!

i do expect that exchanges will gradually become more stringent with AML/KYC in response to an increasingly restrictive regulatory atmosphere, but this doesn't happen overnight. this meeting is definitely NOT a reason to rush into giving KYC documents, especially where it's not required.
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