Sometimes when I withdraw BTC to my wallet, I set really low fees like 50-70 satoshi per byte and wait for weeks, because I'm not going to spend those coins in the near future anyway. I think it's a good way to save a bit of money, because if you look back, you might realize that your fees have added up to a big amount in USD value, while it wasn't always necessary to get those coins confirmed asap.
So, do you use low fees, or always want to get confirmation in a next few blocks?
Isn't 50-70 sat per byte extremely low fees? They are going to take ages to confirm. I usually pay up high fees when doing any kind of transactions, don't feel like waiting. I once had an transaction with 296.011 sat per byte. It took almost 4 days to confirm. How long does it take to confirm with 50 sat/b fee? My 65 sat/byte (also, it had 2.2 kB size) took 2 weeks to confirm and it arrived today. I always use 30 satoshi per byte and i'm letting Jihan BU to pay the rest on my behalf. Viabtc's free service does the job very well.  Paying >200satoshi/byte started to hurt me very badly. I have to move my coins from one address to another from time to time because those small incomes which i collect from here and there create many inputs in time and i don't want to look at a 100$ fee in some day. That's exactly my thoughts, today's 2 mBTC might be "only" $5 (which is already too much for transactions under $500), but if Bitcoin will cost $20 000 in 10-15 years, at that point the amount of fees paid by average Bitcoin user can easily be worth a few thousands USD or more. |
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Sometimes when I withdraw BTC to my wallet, I set really low fees like 50-70 satoshi per byte and wait for weeks, because I'm not going to spend those coins in the near future anyway. I think it's a good way to save a bit of money, because if you look back, you might realize that your fees have added up to a big amount in USD value, while it wasn't always necessary to get those coins confirmed asap.
So, do you use low fees, or always want to get confirmation in a next few blocks?
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if this whale really wanted to do something he wouldn't be talking about dumping or switching, he'd be buying up every miner on the planet to support the uasf chain at the moment it kicks in. same with all these people wearing hats. bitcoin does not care if you're wearing a hat.
I think it's cheaper to buy coins rather than the miners, there are so many people with weak hands, when BU vs BIP 148 trading will start everything will be decided by traders, investors and whales, miners will just be mining whatever gives more profit at the moment. |
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It's really good question. Nowdays some gambling websites have old fixed transaction fee which causes problem for withdrawing of serious amount of bitcoin. So to fix this situation, you have to withdraw small amounts or you can change your gambling website. There is no another chanse or maybe contacting with support and fixing situation with him/her will be another choise.
You should try crypto-games.net  They allow you to choose how much you want to pay as transaction fee. You can choose depending on your need. They also have the "free transaction" option, the the fee is very low so get prepared to wait for few days. Other sites should implement this feature too where we can choose how much we want to pay as few. I almost exclusively use Crypto-Games because of that feature! And I'm not just saying that because I'm a part of their signature campaign. It feels so good to get your payment in less than 10 minutes while on other sites you're waiting for days usually. And they implemented that feature after some users asked about it in chat on their website, if that isn't good customer service, I don't know what is. I like Crypto-Games, but they don't have batch withdrawals like at YOLOdice or Poloniex, they are far superior to instant transactions even with flexible fees because of their cost - just 10 000 satoshi. This is possible because transcation fees depend on size, and size is determined by number of input and output addresses. Input addresses add much more size than outputs, so it's cheaper to send bitcoins from one address to multiple rather than from multiple to one. So with batch withdrawals you have to wait till enough people want to withdraw and then send it in a single transaction. |
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At this point all online Bitcoin services like casinos or exchanges should have an option for batch withdrawals that would cost only 10k sat to users. It's ridiculous to demand from your customers to pay 1.5 mbtc per withdrawal, if someone wants to withdraw 15 mbtc, which is worth $36, they are forced to pay 10% of the transacted amount, while fiat banks charge from zero to just a few percents.
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I guess, gambling is not actually for me.
I kinda feel bad on all the tokens wasted on gambling but it's kinda my "when I'm bored" hobby.
Do you guys have any tips on how to not to lose all you tokens on gambling?
Casinos are business and business is meant to return profit. If there was a way to "not lose", meaning to win for sure, than this business would be in permanent loss. Casinos are designed to have an edge over player, so in the long run they are in profit. For players it means that you are more likely to lose than to win. Statistically speaking, there are more gamblers in lose than in profit over the long run, and you simply belong to them. Just start treating gambling as fun activity, play only with small amounts that you don't mind losing and enjoy your games. |
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https://www.deepdotweb.com/2016/01/23/bitcoin-playing-an-increased-role-in-crime-europol-says/Would you believe that the existence of bitcoin has increased the number of criminality in some countries in the world. This is the issue that was being thrown by the EuroPol and the UK Metropolitan Police. According to them bitcoin has played a huge role on the increasing criminality in their area. They added that a huge number of cybercriminals were using bitcoins in their activities. This just shows that as bitcoin develops both advantages and disadvantages will tag along. Correlation does not mean causation. If criminals are using Bitcoin and crime rates are growing, it still doesn't mean that Bitcoin is the reason for it, sure it's quite convenient because of anonymity and decentralization, but if Bitcoin wasn't introduced, they would just use some other payment method, cybercrimes appeared together with the beggining of the Internet, so Bitcoin is not inherently evil. |
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which implies that less people are using or holding bitcoin
That people goes using other currencies in a crescent basis. All cryptocurrencies are mainly speculative assets at their current state, but Bitcoin is also used as a currency by some people, and it has been used for a while. I frequently see people post their BTC addresses for donations, especially in torrent community, some small businesses already accept Bitcoin, and lets not forget about Microsoft and Steam. Now, who use alts as a currency? Have you seen anyone post their ETH address for donations? As far as I know, only coins like Monero and Zcash are sometimes used on darknet markets because people believe they have stronger anonimity than BTC. |
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Let's say I buy 1 Bitcoin for $2296.25 USD. I notice that the USD price value of the Bitcoin drops to $2093 USD, and let's say I want the US dollar amount, so I sell the Bitcoin at $2093 USD, whereby 1 BTC is selling for $2093 on the market.
Is that to say that the US dollar supply has deflated and that I am still, nonetheless, close to breaking even (assuming resistance along a network)?
That's the correct interpretation, right?
Because if Bitcoin works to significantly reduce the double-spending problem, then the (2296.25-2093=$103.25) $103.25 USD I "lost" was actually reallocated into society (1st law of thermodynamics). Thus, the ~$103.25 USD was used to benefit society (all of the Universe, socially) as a whole?
Or is that an incorrect interpretation because the "lost" money is allocated into society rather than my profits?
Or is it better to consider the drop in Bitcoin price was actually a reallocation of Bitcoin market cap. profits to society?
--> I guess that's like saying if the Bitcoin price drops, the market cap. was re-allocated into society, correlated with (if but causing) deflation of USD (if but all money), thus giving my $2093 the same (except a little resistance) buying power as the $2296.25 (used to buy the 1 Bitcoin) due to how Bitcoin reduces the double-spending problem: So, it's like I broke even because the amount of USD I obtained from selling the 1 Bitcoin is similar to the buying power of the amount of USD used to buy the 1 Bitcoin in the first place, right?
*sorry for edits
Trading is a zero-sum game, meaning that if someone gets profit, other must lose the same amount. In your scenario, someone who sells at lower price is effectively giving up the difference to some other person who sold you the asset at the higher price. Society is not involved here, as trading is a deal between individuals. |
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That guy who wrote the article had an impression that of a person who is new to the cryptospace and has invested big in Ethereum. In his article he says,
It’s just that centralized entities are at risk because of this, and decentralized entities will solve the not caring part, meaning that bureaucratic entities won’t be able to do anything about it – and as an investor you won’t care.
and also,
The titles specifies “centralized” because I believe that, in contrast, decentralized casinos (where your balance stays in a smart contract) can be a tremendous investment. An example of a decentralized casino would be etheroll.com
Or he could be trying to start a new gambling casino project built on top of Ethereum.
Yeah, that article looks very much like shilling attempt for some Ethereum smart-contract casinos, and although I don't hate ETH, I must say that I trust centralized casinos more, because smart contracts are at their early stage and can be very messy, just remember the DAO failure that happened one year ago, it can easily happen with "distributed casino" - someone will find an exploit and drain it all, which will crash the token. I think it's more likely than something bad happening with a trusted Bitcoin casino with a long history. |
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If you still believe that miners want to willingly lower their fees in order to scale the network you are out of your mind.
They know there will always be problems. The only way out is to force them via UASF. This may trigger an activation by the current BIP, simply activate it by signaling for segwit.
If not, UASF will be it. Take it or leave it, no other way out.
If I were a miner, I would support whatever improves Bitcoin's network in general, because this would increase the price of Bitcoin and even if I would have smaller fee rewards, the USD profits would increase. On the contrary, if Bitcoin's network will be left at current state with giant fees and slow speed, it's only a matter of time when the price will crash and some other altcoin will take its place (if it will scale better). So, miners should stop shooting themselves in the knee for a short term profit. |
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Of course gambling! In trading you need money management, good skills related to trading and bankroll. In gambling only with luck you can double your balance.
i think skill-based gambling and trading both are risky, like sometimes in trading people lose there money due to lack of knowledge, experience and skill while in gambling it fully depend on luck which is hard to predict whether it is good or bad and in gambling skill only few time work, the major role plays luck. In trading you can lose your money even if you are very experienced, your investment can crash because of some bad news, you can't predict when whales will make their moves. No trader achieves profit from every trade, no matter how good they are. Trading and skill-based gambling share one thing in common - they are about achieving profit in the long run, if someone gets profit 55% of the time, they can be considered a very good gambler/trader. |
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I almost don't talk about Bitcoin in real life. First, I don't want to suggest buying Bitcoin to anyone, because investing is a personal responsibility, and I don't want anyone hold grudges against be in case Bitcoin falls. Also it's hard to advice is as payment method, because in many cases transactions are too slow or too expensive. The benefit of Bitcoin shows up when you need to make international transcations, or if other payment methods are even more expensive or too inconvenient. I think people will adopt Bitcoin on their own, when all the problem of the network will be fixed and it will go mainstream as a currency and not just an asset.
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*Does anyone have any insights/tips on how to raise investment capital?*
Hey there,
I am a young high school student trying to setup/contribute to my college fund through a long-term hold strategy. Unfortunately high school plus some ultra strict parents does not provide a lot of opportunities for making spare money on the side, or getting some spare pocket money to put into Ethereum. I managed to save up for 4 ether when it was around $33 but it's just going up so so fast and I hate to miss out on this one opportunity I have to save up some money and leave this tiny town and do something with my life.
Any advice you have for someone trying to build some investment capital, please feel free to share. I will be more grateful than you could ever imagine.
You can check markets when you have free time and if you see increased volumes, you should short or buy back your coins, you can diversify between Bitcoin, ETH, and some other coins from top 10 like XMR or XRP, and try to get profit from their volatility. If you have some experience in trading, you will have much more profit if you short and rebuy instead of just hodling. You can start with smaller sum like 0.05 BTC and see if you can be in profit after trading for a month. Just don't be panic buyer/seller, make predictions and place orders and then wait. |
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It's just a FUD article, with stupid arguments like "don't invest or something bad will happen". It's dumb, because this is the point of investment, you knowingly risk your money, assuming that the chance of failure is very-very low, in order to get profit. Every investments is the same - traders deposit their money to exchanges and they don't cry that it might be hacked or exit scam them, in real life people invest in companies that actually might be ponzis, shitty startups just take money from investors and run away. There's no big profit without risk. |
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ETH 1k and Bitcoin 4k would have ETH at a higher market cap than Bitcoin (not that market cap matters, but it's the only measure I can think of).
Market cap does matter, the problem is - people often misuse it with nonsense like "Bitcoin lost 5 billions USD of its value over a few hours" to sound more dramatic, while the real purpose of market cap it so compare value of assets against each other. Different assets have different supply, so by multiplying the price of a single unit by current supply you can get an idea of how expensive the asset is. ETH 1k vs BTC 4k would mean that for some reason there's more money invested in ETH than in BTC. |
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So, there's a joke subreddit called Meme Economy where people discuss memes in a funny way - they post "buy" or "sell" signals about memes, suggesting that they are going to become popular or die off.
And today I got an idea, why not create a platform that actually implements Meme Economy - people can issue meme tokens by creating their own memes and sell it on the market. The process would look like this:
you create a meme image, send it to the platform and get some amount of tokens of your meme to your account, after which you can sell them on the market. The platform will feature its own cryptocurrency, something like "Meme Credits", for which all the memes will be traded. There will also be personal and group pages where people can post memes they own and comment, just like in social networks.
Thoughts?
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i know satoshi dice, and many other dice games uses sha256, traceable and provable fair.
but that's not important. the important thing is there is a banker in this game, the banker has a motivation to win, so no matter how hard he prove the result is fair, it's meaningless.
I think the fairest betting is palm up palm down, no banker, only players.
You share a common misunderstanding that "the house always wins" because casino operators somehow cheat, but this is not true, you are right that casinos exist for profit, but they are earning it in a very transparent way, they have the house edge, which means that you have slightly less chances to win and slightly more chances to lose. Also they have a limit on maximum bet which prevents someone with a huge amount of money to quickly win and quit. I believe that it's totally fair, it can be considered as a payment for opportunity to gamble, after all running a casino requires some spendings - server costs, marketing, developing and maintenance, staff, etc. |
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How i can make or win bitcoins by selling or doing specifics things in a Video game? i want to know what games and the metods to do this possible Games are games, they are not meant for making money, this results in: a) high requirements of turning them into a real source of income - becoming a pro gamer or professional streamer; b) low profit and very routine work - grinding, faucet games, etc. If you are extremely skilled in some online games, you can offer a boosting service - earn money for increasing rating for someone's account. Also you can check out platforms like FirstBlood that allow you to challenge people and play for money, but remember that there's always someone better than you. |
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I am for freedom before money. Cryptocurrency is already an excellent product nobody can ignore . Their publicity is not needed in my opinion. Most investors do lots of research. they probably already know Cryptocurrency exist.
People invest in Bitcoin because they believe it will become a very popular currency in the future, like a default currency of the Internet instead of PayPal. To achieve this we need all the mainstream media coverage, they should talk about Bitcoin at least a few times per week (nowdays they only cover it when the price skyrockets/crashes or some criminals are involved). You can't expect people to just start adopting Bitcoin because it's so great, people are very passive, inert and conformist, they need someone to point them in the right direction. |
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