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No government would ever support something like Bitcoin, because it's their direct competitor. When they say that they support Bitcoin or any other cryptocurrency, it means they are looking how to tame it, install some backdoors or alter the core principles. They will tell you that it's all for your protection, to stop terrorists and drug sellers, but in fact they just don't want to lose their control over money.
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It's a free and 100% unregulated market, there's no "fair" or "unfair", if you don't like it, you don't use it. Also, you can set whatever fee you like, and miners are free to mine whatever transactions they want.
At the current state, Bitcoin's transactions make Bitcoin best suited for bigger transcations like salary, big purchases, real estate and also transfers over long distances. In those cases Bitcoin is far more cheaper than any digital payment method or bank.
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Most gambling sites keep around 90% of their bankroll in cold storage, so even if you breach their servers, you won't steal all their bankroll. Abusing bug to create fake winnings is another thing - casino will be most likely forced to pay out until they get proof that player is exploiting a bug, like it happened with Primedice. But overall, I think it's very unlikely that a gambling site can get hacked, because I'm sure that many people try to do it every day, yet successful hacks are very-very uncommon. I think the weakest point is some third-party service like Cloudflare or Adobe Flash.
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There's an option to combine trading and bankroll investing together. Some casinos, like cryptogames, for example, accept altcoins for both playing and bankroll investing. You can choose from different top altcoins, like ETH, DASH, XMR. You will be getting both "stable" profit from investment and potential profit from price surge. Imo this is one of the best options for smaller investments, because of a good possibility of high returns.
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I concur, 100%. That's one reason why BTC hasn't taken off as a currency. But it's still good as something to speculate on, and as a (very volatile) store of value. When sig campaign payouts don't confirm, it's frustrating...but when you get a 120% raise in 3 months it's very cool!
And the size of transaction fees is a good reason too. 0.0005 BTC for 0.01 transaction is a 5% fee, which you almost never see in any other currencies. With smaller transaction the percentage of fee is even higher. Together with other factors it makes BTC a really bad currency for small transactions, but for bigger transactions, like getting your salary, it's one of the best options, because it's global and fees are static. |
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Hey guys,
I have been working on a social network designed specifically for cryptocurrencies, with the goal of helping bring crypto to a more mainstream audience. My theory is that the average, non-tech-savvy consumer isn't going to check subreddits, coin forums, coin websites, etc., (at least not actively) since most of these resources are pretty technical (no offense bitcointak!). By explaining the key points of crypto in laymans terms and wrapping it up in a social experience, I'm hoping to build a more approachable resource for the average consumer and ultimately boost mainstream adoption.
It's impossible to launch a massively successful social network in these days, why would people leave Facebook and Twitter if all their friends are there? Besides, it would be just another, like you said, "technical" website about cryptocurrencies. If you want to bring some information to mainstream, you need to use mainstream channels - Facebook, Twitter, Reddit. It works well for news, social media are very well competing with TV and newspapers. Promoting cryptocurrencies in similar way is enough, people will come when they will start seeing massive benefits for them in it. |
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What are the reasons, why people use Cash or Credit Cards / ATM / Banks?
* Work offline 100%
* No fees.
* Accepted for Food Shopping & Micropayments
* 0 confermations time
* 0 exchange risks
* anyone is able to understanding of the value of payment
*Countered by ability to send BTC to any place in the world with Internet connection *You can transfer BTC without fees by giving wallet and private keys *It's only a matter of time before BTC will be accepted too *It should be improved in the future *There are exchange risks with cash |
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I think I can sum it up more concisely. There are two main types of gamblers:
1. Addicts: they just cannot stop gambling there is always the thought they can win it big. When they win they gamble more to win more. When they lose they need to earn it back. They can be classified as risk lovers.
2. People looking for fun: gamble on a sports game makes the game more exciting when you win, putting some money down in a casino when you are on holiday with the full expectations of a loss is fun too.
Number 1 can not walk away when they win (unless they have won so much) whereas number 2 can. The problem is a lot of people are number 1 when they in fact think they are number 2. However both 1 and 2 will keep coming back even though they lose money more or less every time.
I think it's more complicated than that - everyone is a bit of #1 and #2, it can depend on current mood and change from session to session. Some people can take wild rides that are common for addicts, but then stop for long time or gamble moderately, and then start betting wildly again. Others may only gamble for fun most of the time, but then make some surprisingly crazy bets. |
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If you consider gambling as a spending, you should save your profit for later. If you deposited $50 and found yourself having $70 on your account, you can either keep playing till you lose everything or win more, or you can withdraw $50 and save it for your next gambling session while continuing to play now with the rest $20. This can help to reduce your gambling spendings, because you won't have to make deposit for each of your gambling sessions.
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This is an interesting question, and I am finding myself stunned, often, by the size that my deposits have shrunken too. I got very comfortable quickly converting the BTC to USD by seeing each .001 as roughly a dollar. Well, that is stuck in my head for some reason so when I deposit $50 worth of BTC I got used to seeing somewhere around .045 give or take a few. So now the deposits just look so tiny, and on top of this, I find myself betting as if it is still the lower value as well! So when I used to bet a very comfortable dollar worth of BTC it is suddenly closer to two dollars each time I roll the dice! Almost double to play and only half of the actual BTC to play on makes for a short ride! I need to adjust the conversions - TODAY- so I can pace myself, definitely. Yes, it is expensive for me because of my little routine but as a few people mentioned, we can just scale it proportionately and perhaps we won't be staring at the zero, bewildered. Or at least not so quickly. I really need to accept it. Bitcoin is ever on the rise. Good luck with the adjustments everyone!  If you are a Bitcoin holder and also a gambler, you might want to consider managing your deposits by taking the future price of Bitcoin. For example, you can assume that Bitcoin will cost $3000 in a few years, so to deposit $100 you send 0.033 BTC instead of todays actual 0.058. If you lose all your deposit it will cost you less in the future, since you used exchange rates from the future. But your profits will also be reduced, so if you win, you might start regretting that you haven't deposited more. |
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In many cases, people shouldn't regret so hard about spending their Bitcoins in the past, since no one can predict the future and know what the price of Bitcoin will be later. Money exist to be spent, and we have only one life that we should live to our fullest. Thinking too much about the future and about the past is unhealthy, people need to live in their present too. It's easy do judge decisions when you know their outcomes, so it's better to ask if that decision was good at the moment it was made, basing on that situation.
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Gold doesn't have any surprise potential - everyone know about it, its properties, estimate supply, etc. Bitcoin is even better for storing value, because it's easy to move, obtain and store, unlike gold. Although being digital makes it reliable on electricity and Internet, which can make it bad in case of big war or other disaster. Bitcoin is obviously riskier than gold, but also comes with a very good portential to double in price in a few years, something that gold can't realistically achieve.
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I think gambling in a smart way means a few things. First, you setup your gambling bankroll for some period of time, i.e. one month and don't spend any more money, to avoid risking money you would be uncomfortable to lose. Second, if you win, you withdraw some portion of your money and save it for your future gambling sessions instead of rolling until you bust. And third - just have fun and threat it as entertainment and not a source of money.
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Nothing has stable value over long term - dollar and gold can decrease with time too, or rise. So, there's no "saving" without "investing". And when it comes to investing, it's better to diversify your portfolio. For example, you can keep most of your savings in Gold or Fiat (depending on your country), then smaller part in Bitcoin, and even smaller in some altcoins.
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I think Dice offers the best chances and the best flexibility out of all casino games. It's very fast, simple and responsive, it's good for both new and old players and doesn't require any specific skills to play. Although sometimes it can become boring, but usually you can quickly switch games in most gambling sites.
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I have a similar problem, at first I fixed it by downgrading to 0.4.1 but it started again. What I found helpful is restoring your wallet with your seed and choosing some old backup, you will be able to open your wallet but have to resync, which is also bugged and sometimes gets stuck, but eventually you will be able to get acess. But you might encounter another problem - unconfirmed transactions when you try to send coins.
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It can be very likely that the Seven Kingdoms will return to their pre-Conquest state, they were united by Targaryens only 300 years ago while their history as sovereign kingdoms lasts for thousands years. Also the question itself might be tricky, maybe some of the kingdoms will secede or get destroyed by Wight Walkers, maybe someone will be ruling it from the shadow, like Varys or Littlefinger, or Tyrion would be de-facto ruler as Hand of the King. This can create a lot of frustration amongst people who made bets, because it would be unclear who won.
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If you are ready to risk your 0.5 BTC to get higher returns from casino investments, you have 2 additional options. The first one is investing with leverage - basically you are multiplying your profits and losses. For example with x10 leverage you will be getting the same profits as if you have invested 5 BTC, but also the same loses. One of the sites that allow leveraged investments is YOLOdice. The second option is to invest in altcoin bankrolls - you will be gaining profits not only from casino, but also from price increase of your coin. Altcoins like ETH and DASH greatly grew in price recently, when combined with natural investment returns this can lead to a decent profits even with smaller sums.
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If you want to gamble with a plan, you should start by setting up upper and lower limits for your gambling sessions. Those limits should be represented as percentages of your original bankroll for your gambling session - for example you can plan to stop playing after winning 30-50% of your original bankroll or if you lose 50-100% of your bankroll. Lower limits ensure that you won't spend more than you can afford to lose while upper limits allow you to fixate some profit.
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Experienced or not, it seems the same. Big funds or small funds, it makes no difference. Because what I hear, is a lot of people who lost in gambling.
Experience wont give any advantage for us however the number of your bankroll could matter. If you gamble 10 btc with 97 % chance to win, you will get 0.2 btc everytime you win. That means you are getting around $300 everytime you win, it is a small amount however it might be enough for daily usage At first glance it looks very nice to get "free" $300 once in a while, but if you look closer, you will notice that you risk entire 10 BTC with your every bet. For example, you can win 20 bets and have $6,000 in profit, but when you lose your 10 BTC bankroll you will end up with -60% net value. This example proves that gamling is to risky to consider it turning into source of income, whether you have years of experience or a newbie, big bankroll or small, gambling should be viewed as just entertainment. |
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