61
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Economy / Gambling discussion / Re: do you play loteries ,did you won something
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on: November 04, 2015, 06:40:49 AM
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i have played a lot of lotteries and i never win anything at all. lol. i already resign to the fate that i am just a super unlucky person in gambling. forever losing in almost all diff kinds of gambling.
It is not you that are super unlukcy. It is the design of lottery. National lottery payout ratio is very low. That makes us think we are unlucky. We are lucky as we know the existence of bitcoin earlier than other 7 billion people.
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62
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Economy / Gambling discussion / Re: Dice game strategy?
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on: November 04, 2015, 06:37:57 AM
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It is possible, but I doubt anyone has enough patience to collect faucets day and night... or are there people like that? IIRC, most people just gamble their faucet balances away, sooner or later.
The time and effort spent on collecting bitcoin from faucets is disproportional to the value of bitcoin. Faucet is just a way to collect small amount of bitcoin and practice the sending and receiving.
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64
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Economy / Gambling discussion / Re: Dice game strategy?
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on: November 03, 2015, 08:48:51 AM
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Yes we cant verify the rolls in real dice with seeds and nonce but seing the dice rolls in real casino doesnt make it fair already? no one can control the outcome of real dice tho
So the result of the dice game cannot be manipulated if the game is provably fair? Any way, it is difficult for gamble to win a dice game for long time.
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65
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Bitcoin / Bitcoin Discussion / Re: Are you holding your bitcoin for a price increase?
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on: November 03, 2015, 08:45:53 AM
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Based on economic theory, shouldn't the price of bitcoin be somewhat close to the marginal cost of production?
Given the average cost of electricity around the globe, current difficulty on the network and average computing power of mining equipment ...the price should probably be more like $300.
Personally, I think price should be around $3,000 usd...so holding till then
The price of bitcoin should be somewhat close to the marginal cost of production. It is based on the cheapest electricity cost of the miners. Which is around $0.05/kWh. So the electricity cost is around $150. However, the total cost is around $300 if we include the building, labour etc.
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68
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Other / Off-topic / Re: If BTC goes to $1000 or more, what would you do?
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on: November 02, 2015, 07:46:07 AM
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If is if, but it`s not difficult to think at least I would sell some of my BTC and enjoy good time. After you sell your bitcoin at a high price, will you buy the coins back when the price drops? What will happen if the price keeps on rising?
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70
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Economy / Gambling discussion / Re: do you play loteries ,did you won something
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on: November 01, 2015, 08:37:27 PM
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i mean if talking about bitcoin lotteries i never won but i just won a smasung mobile phone in my college . Was so happy that day couldnt explain you You won a Samsung mobile phone in your college. Did you win it from a gambling or some other kind of competition?
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72
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Economy / Gambling / Re: What comes to mind when you hear the word ‘gambling’?
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on: November 01, 2015, 06:30:33 AM
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when I hear the word gambling one thing comes to my mind, dice sites, having fun with just a few coins on hand and thinking that coins will multiply in a few strokes
Gambling is a fun. You can earn a lot of money in very short time, but you can also lose a lot. Sometimes, 1 minute millionaire gives some happiness.
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77
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Bitcoin / Bitcoin Discussion / Re: Are you holding your bitcoin for a price increase?
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on: October 31, 2015, 11:57:25 AM
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Then we are back at this level again, wait for the price to bubble again and boom, dump again. The cycle continues as history continually repeats itself. If the price rises in long term, then it does not matter. But for bitcoin to be used a way of payment, it has to be stable.
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78
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Economy / Gambling discussion / Re: Dice game strategy?
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on: October 31, 2015, 11:50:02 AM
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sadly to say, recently i play on 0.1% house edge and at first i was winning quite comfortably and i thought it is something i can exploited turn out 3 bad runs and i am now in negative for quite a lot.
Maybe after your first win, you just stop. Then come back the next day to play again. But with 0.1% house edge, you will still lose in long term.
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79
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Economy / Gambling discussion / Re: What is the most profitable type of gambling?
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on: October 30, 2015, 07:31:54 PM
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I think no gambling is profitable but if you play lottery you can get the most profitable...and you can ear more and more or much bitcoin if your lucky win.
Lottery is the worst form of gambling. The payout ratio is too low. Most dice games are better than lottery.
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