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Is this like a Crash/bustabit spinoff?
Anyhow, I personally much prefer traditional games such as dice, blackjack or video poker. I'd rather not stress myself out with trying to time the precise moment I want to exit with games like Crash.
Besides, live games like these are notorious for being extremely prone to bad internet connectivity. If you don't have auto-cashout or autobets going on in the background, you don't really have much of a recourse once your bet is entered into the system.
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Lately, we haven't noticed many tweets from John McAfee about crypto. But seems he is waking up recently and making tweets about crypto. But didn't made tweets about predictions nor promote any specific coin. He retweeted his 3 years back video ( "The looming war on the horizon") where he talked and predict about governments and crypto war and he believes the war has begun. And seems he is supporting crypto in this war and saying- "Crypto is our last hope for financial independence". I am not a fan of John McAfee's predictions but seems his predictions about the governments and crypto war something potential. Once we see a potential move in Bitcoin price then the negative step came out from China government. Those who believe in decentralization then should agree with what said John McAfee about financial independence, crypto is the last hope. What do you think? Seems like he is capable of talking some sense when not delusionally putting out insane price targets on BTC. I'll give credit where credit is due - sure, he stirred up an immense controversy in relation to his predictions of BTC hitting $1 million by the end of 2020 or whatnot (and probably drove away some potential institutional investors by his arrogance and his claim to represent the crypto community), but what he said here is absolutely true. Decentralised cryptos are the only refuge in a time of chaos and continued push towards greater centralisation. And if you don't hold BTC as a regular part of your portfolio then you are leaving yourself exposed to an imminent collapse of the fiat world order. |
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That's very interesting to see.
I think that there is indeed a prevailing trend that institutional investors are a lot more countercyclical/contrarian in their investment approach, in that they don't panic as much as retail investors when these selloffs do occur.
But as a retail investor, you can take advantage of the same fear in the marketplace. You have access to coins still discounted 30-40% from its peak right now, and it's probably worthwhile to at least accumulate a tad and DCA your buys at this price.
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Certainly. And I think that it's a matter of time before we enter one of these 'reverse bubbles'.
The market was very euphoric to start the year, and generally that tends to not end very well. I'm still expecting further corrections to price, potentially even below the $30k level which most people view as the prevailing support.
But for the long term bulls here, it's no reason to fret - it's the perfect accumulation phase, especially after affirmation from institutional players that they'd be interested.
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I felt bad of missing the opportunity, because I believed the market will go low to $25000. With ethereum I expected the price to reach down to $1500. Both made me get disappointed. Now I regret of missing the opportunity to make a buying. If I've bought it by the time of crash, now I could've recorded good profit.
Do you people have the same thinking as mine/you've invested at the right time, and do you think there is chance of price reaching down to $25k in the coming weeks.
Don't feel too bad not being able to time the market, because it is notoriously difficult. If anyone was able to time the market with repeated success then they would be a billionaire. And there aren't that many billionaires out here in the world. BTC could have well dropped below $25k if Musk did not come out with the recent positive developments, and that's just the reality of it. You should probably tweak your strategy a little bit so that you are able to take advantage of cheap coins even if your mental target isn't reached - e.g., through dollar cost averaging. |
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It is the first time that I have used both services.  I would have liked to get advice and whether there have been experiences. How to avoid scam and what is the best way to find out which vendors and accounts with fake reviews, which documents can be requested, and whether you prefer a seller from this list https://localbitcoins.com/sell-bitcoins-online/western-union/is using the forum or any DEX (which one?) better, faster or LBC sufficient? You're not going to be able to use a DEX - that's simply not how they work. DEX's host only tokens that are native to their platform and do not accept any fiat based payments (unless they are stablecoins). LBC would be sufficient, as long as you pick a vendor that has a proven track record and follows the appropriate steps to protect yourself with LBC's escrow system. But why not consider just using a larger CEX that will likely give you better rates? If you can bank transfer and get verified at sites like Binance, Bitstamp, Kraken etc. (depending on where you're from) you're going to save like 3-4% off off LBC spreads. |
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Yes, a winter of 2-3 years is coming, if you don't believe this you will lose all your money, you need to understand how to play this game, holding is just a good idea if you really don't care about the invested money.
Bears are in control.
I do agree that a bear market is due. However, I don't think that it's a great idea in any mania to even attempt to call the top. With the level of enthusiasm and FOMO in the market, this current correction that everyone is predicting to be the dead cat's bounce could be the next leg up. But eventually, $50k is way more than what is a long term sustainable price for BTC imho, at least at this stage. Until mainstream institutions (not just Microstrategy and the like) start transacting with BTC, it's likely going to correct down to the $20k neighbourhood and rest at the support there. |
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What’s the business model of different wallet services? I have been thinking this for a while but I didn’t get a good answer for few, specially for open source wallet like Electrum.
Anyway, can you please share what do you think about the business model of the following wallet-
1. Electrum
2. Trust Wallet/ Automic Wallet
3. Blockchain.com wallet
Actually I'm talking about monetary gain of these services.
Don't think electrum is for profit. They run purely on donations and the goodwill of their members. Blockchain.com has a bunch of in-site features that they try to push you, including buy and sell. That I suspect is where the majority of their profits come from. Once again, you hold the private keys to your wallet (although I'd say not as secure as Electrum or a hardware wallet), so they don't make anything from transaction fees on that front. Same with Trustwallet and Atomicwallet. You get access to all your private keys (again, security is not guaranteed) so they can't possibly make money on that front. But both of them monetise users by integrating fiat aspects (i.e., having a service to buy BTC with USD or whatnot). |
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Possibly was the largest buying opportunity too.
The fact of the matter is that you can look at these events both ways. You can either see it as a bloodbath, or a great opportunity for loading up on your positions with cheap coins. An almost 50% correction is really no joke in terms of the discount you get on your coins.
Just look back at what happened in March 2020. The crypto market completely collapsed under the weight of COVID fears and I distinctly remember BTC perpetuals on Deribit and Bitmex going down to less than $3k.
Looking back, it was scary, but wasn't that the best opportunity to get yourself in the market too? Buy when there's blood on the streets, and when others are fearful.
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There's actually very little inflation in the economy right now.
What is very worrying is that people are expecting high inflation. And because of these inflationary expectations, you could have a self-fulling prophecy situation where inflationary expectations alone are able to lead to actual inflation in the future.
The quantitative easing and the myriad of fiscal stimuli are going to come at a cost, one way or the other. There is absolutely no way around that, although most policymakers still seem delusional about the potential consequences for some reason.
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Those are easy words to say. Those can be followed by him but getting over what happened can last longer than what we can imagine. If he's a guy that surely can get over it easily then that's good for him. But if you're going to read what's on the first page, he's about to take his life so the trauma and stress that this incident has brought him are harder than you can imagine. Those solutions given are easy to say but applying it to his current state is a question. It's hard to see gamblers ending up with those bad results and starts to think of taking their own lives because they've gambled wrongly and lost a lot.
But how is this the fault of the casino? The casino is merely offering a transaction to everyone that is interested in taking it on. Any player is well informed that they are taking on a losing proposition in the long run - whether or not they plan on actioning on that knowledge is their choice only. I'm not saying that what the man has gone through is insignificant, not at all. I'm just questioning the validity of blaming the counterparty of a transaction that you had willingly entered. |
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It's a lucrative industry indeed.
Though, I think that traditional fiat sportsbooks and gambling sites in general will take a big hit as crypto continues to become more mainstream. I think I echo the sentiment of many people on the forum as well.
Companies such as Stake and Sportsbet are increasingly integrating into the mainstream, whilst offering convenient crypto deposits/withdrawals. Given the clunkiness of the KYC procedures and deposit delays for these fiat based sportsbooks, it'll be a matter of time before they become obsolete and archaic in nature.
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Yeah, absolutely. This is one problem with using custodial wallets/exchanges with your gambling funds.
I've personally never had issues with Coinbase, but I've heard a ton of horror stories of people who deposited funds there from gambling winnings that led to the ultimate suspension of their account. They seem to be getting better at tracing transactions back to known dice sites and sportsbook wallets.
I don't think that it's too much of an issue per se if you just do it once, but if you are planning on withdrawing large winnings regularly and you need to maintain access to these withdrawals, then definitely use a wallet that you hold the private keys to (which you should be doing anyhow).
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I don't think that this will be a repeat of 2018 per se.
The market is much more developed now with loads of institutional interest that won't just sell off because of a minor downturn in the markets. The resilience of the overall cryptosphere will be greatly strengthened with companies like Microstrategy that are committed to buying the dip and hence stabilising the price action.
Now of course, the bear market will come, and this is the start of it most likely. But I'm just saying that it likely won't be as protracted and bleak as last time.
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Unloading leverage but still keeping my positions open.
It's clear that we're no longer in the prime of the bull market, which poses a significant amount of downside risk in terms of the potential for flash crashes and whatnot due to excessive volatility. That makes the case for reducing any leverage on longs (or even shorts) that you have.
But I am a firm believer in BTC in the long run, and I think that Musk will change his tune very soon. Hence keeping longs open.
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Bitcoin is always bitcoin, it's very unpredictable, now, in just a span of one day, who would have thought that we are going down below $30k.
As of this writing, the price is $33k.. and more dump to come.
Would you still hold or can you still hold guys?
Absolutely crazy how quickly the market narrative can change, isn't it? This reminds me of Ben Graham's sage words and his advice about Mr. Market. Each day a delusional lunatic Mr. Market comes over and gives you a quote on BTCs. You have the choice to either sell, buy, or do nothing. Why in the world would you decline this offer at $50k apiece just to sell at $30k? I've seen quite a few people especially on reddit forums do precisely this, and it makes absolutely no sense to me. The regular price updates should be an advantage of the investor, not a detriment. Buy the dips. |
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Absolutely. And I do think that it's a conversion that is very favourable and makes a lot of sense.
You're essentially preserving all the value of gold as a hedge against fiat collapse when you swap your gold position for BTC, yet being able to hold a much more convenient asset in terms of storage and has way more long term growth potential.
However, don't think of it as a speculative investment - you should be in it for the long run and not be selling your gold for a short-medium term position in BTC.
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If you generate enough volume, at a lot of the fiat sportsbooks you should be able to get nice birthday bonuses.
But obviously there is no free lunch in this world. You only get these bonuses for generating a ton of expected revenue for the house, or they have some sort of strings attached (e.g. absurd wagering requirements).
I haven't heard of any anonymous sportsbooks that do this apart from 1xbet that you mention. And it makes sense given how easy it is to create alts.
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Really good incentive that is quite cost effective too. Kudos to them for being so creative.
The EV of these lotteries are probably no more than a few cents each given the amount of entrants that are participating. Yet, the sheer amount in the prize pool simply makes this seem like a much better deal than it actually is.
Not to mention the collateral publicity that this event will generate for the lotto. Truly lucrative industry with the edge that they have over the players.
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I don't want to undergo Know Your Customer procedures on gambling site for a whole lotta reasons. I don't want my data to be seen by some strange off-shore companies. I loved the early days of bitcoin when all gambling sites were accepting it no questions asked, directbet was my fav.
Exactly. Directbet was the embodiment of what crypto gambling should be like - quick, painless, direct, and no questions asked. But I do think that it's inevitable that more and more casinos start probing into people's KYCs for a variety of reasons. The overwhelming reason is the ramping up of regulatory pressures that is happening across the world. It's necessary cost to pay for the mainstream adoption of BTC - really no way around it. |
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