I tried analyzing while playing gambling because it is completely based on random numbers which is not possible to identify those. It is completely based on luck, because i tried many calculation done on paper and tried with that numbers only few times i make money, but many times i failed to make money.
People love to assume that there's pattern on the numbers that the gambling site is giving. At some point, there would always be. There are times when you're going to test the pattern that you thought of and you'll be correct. It's all a coincidence. After using that same pattern for a while, it would encounter tremendous amount of losing streak simply because there's no pattern at all. People choose to think that the whole gambling site was rigged and they can solve the mystery behind all those random numbers. Turns out, it's all totally random. People always believing that there's an pattern to every gambling site. If they see that they are loosing straight they will try to double there bets trying to get back what they've lost already. Testing the pattern assume us to be win but it always by chance again doesn't mean that we lose 6 in a row we gonna win on the win round. No one already solve and defeat gambling people always blame their self once they lose. Most likely they do not succeed in the long run, patterns or trends only works in short term, once the gambling sites figure out that they been abuse by the gamblers and they are losing, they will automatically adjust their system to go back to the normal operation which gives them consistent income. I guess let's just also adjust our method just like they do if we really want to last in the game. This is all completely false, there's no "patterns" all bets are generated randomly, and every or almost every bitcoin gambling site has a Provably Fair system, which is based on 2 seeds. One part of the seed is generated by casino, and the other is by player so the result is determined by the sum of those 2 values, which means that it's impossible for casino to influence players bets. |
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This is a really nice topic, it seems that in 6 months the OP had a return of about 32% on his investment which is great, which means that he got approximately earnings of 5% every month that is way more than what you could get in the whole year if you had that money in the bank.
If things remain constant then my prediction is that at the end of the year the OP will earn 79% and that his final balance will be something around 9.1BTC.
The OP investment for me is quite successfull ,The have 5% of earning in each month not doing anything, Its like a passive earning. As time goes your investment will return to you and The profit will be attach on it. Its just thr risk of being scammed is the major disadvatage of investing even on a gambling site. Exactly. So that is why the monthly % returns are really big. To compensate the risk... it is not designed this way! so it is not compensating anything. you are investing in a highly risky business but since the house edge ins the favor of the house and also the fact the people are greedy in gambling and they all end up losing at some point means the house will win and when you invest in the house bankroll you win too. but this is only for long term and honest house not in short term or for dishonest cheating houses that report wrong results to pay less or not pay. Certainly, in a any other investment program, it's better to do long term investment to avoid huge votality. Also, some short term investment were HYIP that seeks investors to scam, better to keep away on this. It's better to invest in gambling as many people seeks a game that would give them a chance to profit. HYIP - you might as well buy into the onecoin scam... Gambling is not the only option for us to choose if we want to invest our money. Gambling is good in bringing us some extra money. But it is not enough. As you can see, investing in altcoin are more awesome and can bring remarkable results. However, it is very dangerous to the people who have no idea what they are doing. Onecoin is certainly scam and you will lose your money in this stupid ponzi coin Casino bankroll investments are relatively safe, it's reliable in terms of expected value, so you don't need any exceptional skill to start getting profit. This is why it's currently the best option for new investors, as well as people who want to get profit without big risks. Altcoins are trickier, in trading someone has to lose in order for other people to get profit, so without luck and skill you can lose your investments very quickly. ICO's are also very risky, most of them are just scams, and those scammers will do anything to get people's bitcoins, and even escrow not always guarantee safety. |
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Regulations are one of the reasons why legal casinos have much higher House Edge - 2,5-5% compared to 0,8-1,5% of Bitcoin casinos. Also, since Bitcoin casinos are provably fair, you don't need government regulations to guarantee that the game was fair. Of course there are other concerns, for example some Bitcoin casinos refused to pay promised jackpots or just big wins, sadly this can't be solved without regulation. Also the threat of exit scam is very real for any bitcoin business. So, sometimes regulations would be nice, but maybe there are some other ways to solve the problems, like escrows.
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it's not good to put all eggs into one basket. Because you need to maximize your bitcoins to get good profit from it. And if you are going to look on that way of investing you should relay on some experts on this type of investment like the thread that I gave. The higher amount you'll invest, the higher return will possible get back on you.
If you are going to put all your investment in one place so you will remain restricted and there will be more chance to lose most of your by investing your all money in one place. But if you are going to invest your money in different places so if your one investment goes there are more chance that your other investment will increase. So, it will be good decision to invest your money in different places. i think its better to spread our investment because we don't know the gambling site will be online until how long and if the bad thing is happen, then we still have another investment. to avoid this, we need to make research about the good gambling site so we can stay safe while our investment is running. Diversifying your funds is very good thing to do in investments. Because one can lose money not only a casino can cheat investors, but there are chances that anyone can win a big amount then investors will lose a lot of money. So if you diversify your funds, then you can reduce these losses. I always thought that by diversifying you risk more, because there's more chances that something bad will happen to at least one of casinos, like hacking, exit scam, fake win fraud, etc. If you invested only in 1-2 places you will lose almost everything in that situation, but if everything will be alright, you will have your profit. But when you diversify you will be more likely to lose one of your investments, and profit from other investments will be barely enough to cover your lose. |
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The easiest way to make profit from gambling is to not gamble at all, so you save your money from a likely loss. But you can easily make money with things that are related to gambling, like bankroll investment, signature campaigns, affiliate programs, blog posts, etc. Gambling is a well developed industry and there's plenty of opportunities for work, or maybe you can even create your own gambling site.
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Gambling is worthwhile if you know that in the long run is very likely you are going to lose money and you are looking only for a way to get some fun, bitcoin casinos compared with fiat casinos offer the possibility of betting with smaller amounts of money so you can get more fun for less.
That is not true entirely ,You wont lose your money even if you gamble for a longer period .That is not how they will calculate the house edge,If you are really interested to experiment,then there is nothing wrong to spend some dime to gamble. What kind of advice is this? "You won't lose your money", seriously? If no one lost their money everyone would quit their jobs and just go to casino. In reality gambling is very risky and statistically speaking more players are in loss rather than in profit over the long run, because the house edge is real. If you are newbie, first you need to know to never wager more than you can afford to lose and keep track of your limits, so you won't do any harm to your wallet with a wild gambling session. |
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Gambling is always risky because in gambling we have only two choices either win or loose. So it is good to gamble with small investment,instead of loosing all money in gambling. Some time even with small amount of money we can make fortunes by winning jackpot who knows.
The first thing you should understand that gambling is not an investment, but it is just a game and needs to play when one is need of some entertainment. Most of the people use it wrongly to make quick bucks and end up losing a lot of money in it. But if one want to invest money in any casino bankrolls then small amounts also works, and over the time we can increase our investments. OP meant casino bankroll investment, not depositing and playing games. That's two very different things, as investments have positive expected value and usually bring profit over the long run. When we think about investments we imagine investors with big sums of money, so for btc casino it would be 1 or more btc, for instance. However, the minimum amount you can invest is usually 0.01btc which is only 10$. Do you think such investments are profitable but you earn small sums or maybe they don't make sense at all? Can someone explain it to me?
Small invest do make sense because if you can only afford to invest with 10$ and make a profit out of it it was a good investment even tho it isn't very much. When you keep making profit from the 10$ that you used may get 1000$ out of the 10$ that you used to invest. $10 doesn't make any sense if you have something like 60% ROI per year, you will just get $6 in a year. |
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"moderators do not remove likely scams"
And that is what is exactly wrong. That is why this forum is a cesspool of crap. Scams, get rich quick schemes, and basically nothing else.
-AndrewBuck
I think mods simply don't have resources to filter all the crap, this forum has a giant amount of traffic, imagine how much work it would be to investigate each new announcement. But you are wrong saying that community is ignoring this issue, there's Trust System and people who take their time to give negative reputation to scammers, no matter if it's shady ICO, cloud mining or some ponzi scheme. I think this solution is the best we can have right now. |
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Tbh, I don't think it is the only concern that exists. For example if such a provably fair for investors existed, then even then casinos could bet and keep betting till they made profit due to the size of the bankroll or fake credits they can add to their own accounts. And by any chance if their fake account did end up losing, they could just hit n run, or fake a bigger amount since the bankroll would have increased as well.
Faking bets is another story, usually cold wallet where most of the bankroll is held has public address, so if game is provably fair for investors too, they can't do anything with fake bets, because if fake bet is lost they need to move money to the bankroll, and chances are the same as for regular players. |
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Eliminating ICO's and Pre-Mines With all new coins, we are seeing an uptrend of ICO's and Pre-mines that lead the teams to doom. These teams will build up an ICO and vanish or create massive pre-mines and dump once they hit the exchange. That is where this topic comes in. How do we eliminate the overuse of ICO's and Pre-mines? Here is a suggestion I've come up with, and I'm not sure if it's feasible. Transaction Fees! Can we create the transaction fees of coins to get distributed as follows- 50%- Miners 10%- R&D 10%- Security 20%- Future Development 10%- Basic Income I would like to give each of these its own multi-sig wallet and have the transfer fees being split into these groups (with the possible elimination of some). Miners will get 50% of the transfer fee’s generated per block Our Research and Development lab for blockchain technology will receive 15% of each transaction fee. Our Security team will receive 10% of the fees from each transaction fee. The team will receive 15% of the transaction fees for future development Plus 10% of all transaction fees to go into a Basic Income for all holders of our coin. Each set of transfer fees will have its own multi-sig wallet (Total of 5 Wallets) Again, I'm not sure if this is feasible or not. This is where you come in, to add your suggestions to how we can eliminate these ICO's and Pre-Mines. There are successful ICO's like Ethereum, and successful premines like Bitcoin. If the coin is good than those things are not a problem. If you are concerned about people being scammed, take a role of "scam buster", check all new threads in Altcoin section and throw your accusations against ICO's and premines. Even if you develop your transaction fee reward system, you can't make devs use it, it's their right to create whatever their want, and user's right to invest/mine whatever they want. |
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You have made an excellent point and doing this way they will deny running completely rather scamming smartly. The problem is that if investors somehow know the seeds to make sure they are taking participation then it would get very bogus and anyone can cheat.
The only way to avoid this is if the casino owners have a source of seeds which is independent and cannot be altered anyhow like for example using random numbers sort of service.
It's not possible to implement "investor seeds", this system is working because players can use their custom seeds for every bet, you literally can type anything in "client seed" field and use it as your seed for next bet. But we as investors can't just manually type a seed for each that when there's hundreds of bets per second. Provably Fair means that the result of your bet would be determined based on seed that you have submitted before the bet was made, so it won't work for investors because it would require someone to generate random numbers for every bet that is made. By the way, even if there were investor seeds they won't increase chance of cheating, because you need all seeds to solve the hash, otherwise it won't work. |
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You guys are really missing the point, there's no way to detect such scam, some operators might have been doing it for some time and no one even suspected a thing. For example. casino is doing really well, lets say 10% per month, and then owner decides to rob his investors, so he creates some fake wins, but he takes only half of the monthly profit, so investors still have 5% and are quite happy with it. Also casino owners could lure investors with a big promised profit share percentage, like 80-90%, but then constantly create fake wins to effectively lower it to something like 60-70%.
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There can be many ways to solve this situation. You could entrust your bitcoins to your lawyer so he will release them to your family in case of your death or illness. You could also build some dead man's switch that will give your private key to your relatives. For example you could build a smart contract that would require you to enter some password once per month or per week, and if you will fail, your private keys would be released to your family.
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Today almost all gambling sites feature Provably Fair system for their games. If you are not familiar with it, it is based on cryptographic hashes - the result of each bet is based on 2 seeds, one of each comes from the player side and the other from the house side. This system is used to verify that every bet was truly random without any manipulation from both sides.
The problem here is there's a third side involved in gambling - investors. They invest their money into casinos bankroll and share profit when players lose, or cover house's loses when players win. Now my concern is that investors don't have any control over seeds, so there's a potential for abuse by casino operators. They could simply create player account and make fake winnings, since they know both seeds, and by doing this they will be stealing investor funds without any way to prove it. Of course investors will start withdrawing their money if they will see losses over long term, but this scam could be even more subtle, for example living investors with profit, just smaller than they should have earned so there wouldn't be any suspicions. Considering all this, I think gambling sites should extend Provably Fair system to cover investor side.
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If you trade altcoins than yes it is like kind o gambng,most of them are scams,hypes you nver know whan thay disapear,
Altcoins are just very risky, they can easily drop to 1 satoshi if they turn up scams (sadly, most of them do exactly this), but they can also skyrocket if devs fulfill their promises and the project is really innovative. Also there's another possibility to get profit, since many altcoins are pump & dump coins, you can still profit if you invest early enough, but this is very risky. genrally trading is not gambling.trading is simply buy sell to get a profit.In gambling you have small chance to make profit
If you could so simply get profit just by buying and selling, we all would be rich, but in fact trading is a zero sum game, so in order for someone to get profit, other person must suffer a lose. So trading is kinda like gambling, but the edge depends on your skill, it can be either positive or negative, and obviously you'll have to learn a lot before you will be getting profit consistently. |
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When you accept bribe via Bitcoin or any other cryptocurrency, you still need to act smart, suddenly exchanging thousands of dollars will raise suspicions and you'll have to explain where did you get those coins. So in order to avoid this, you should make purchase with your bribe coins, so it will be much harder to notice, unless you make some big spending, like a car or house. Also, it's not true that bribes are always wrong, sometimes you can bribe officials to circumvent some bad laws, like marijuana ban for example. In many countries you might even need to give bribes just to get some documents that should have been given for free.
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I've seen a lot of people arguing that Bitcoin can be profitable because of its volatility and convenience, but sometimes I feel that people using Bitcoin as an investment have little enthusiasm for its main use as a means of trading without an intermediary.
Under what circumstances should Bitcoin be treated as investment and to what extent should people think about its use as a global currency?
Those things are not necessarily mutually exclusive, it's just that there's not enough merchants who accept bitcoin. I don't think there's much places in the world where you can make your typical everyday purchases with bitcoin, also it's not good for big purchases like housing, because you won't be able to make it officially. So overall bitcoin is far from perfect payment method, simply because it's not popular yet, and also not supported by government. |
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Sorry, I'm still noob about investment
I want ask simple Q
If I'm invest 0.01 , for how long I can expect a profit , usually ?
Profit is a wide term, and since this value is updated pretty frequently at yolodice, the technically correct answer would be almost immediately, unless the house had just suffered a loss after you have invested. However, if you want to have some idea about how much you can expect to get, you need to use some theory. To calculate what profit you are most likely will get, you need to take the amount of BTC wagered by players over some period (for example 1 month), multiply it by the House Edge, and then multiply by your share in the bankroll.. |
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Is kingdice reliable?
So far so good  We just hit 11% returns on KingDice so far from the relatively small amount of time we have been there! Actually over 18% when I log in now. Only thing missing is some charts people can easily use to get to see the volume and returns of the site. With regards to is it reliable - I never say any dice site is 100% safe and if the site is new, more than likely you are taking a bigger risk. So far that big risk looks to be a big reward considering the time we have been invested and that the site does not use any leverage. i think investing in newer dice sites is even better than investing in the old ones. simply because there are far less investors which makes any new investor a big whale because of the percentage share he gets. so with smaller amounts you can make a large profit. although i totally agree about the risks of investing in a new casino because of it being unknown and without history and trust. About your first point, while it's true that you will get more profits if you own a bigger share of a bankroll, your losses will also be higher. For example, if you have 5 BTC in a 10 BTC bankroll, and someone lucky wins 1 BTC on the first day, you will suffer a 0.5 BTC loss. To avoid this, you need to make sure that casino doesn't allow more than 2% of the bankroll as a win per single bet. As for trust, there's one inherent problem with all casinos - owners can easily create fake winning while they pose as players to steal money from investors, and there's absolutely no way to prove it. |
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My gambling is strategy is to used random bets. First i will bet smount amount and then if i won i back to my base bet but the first roll is lose. Then i will go all in so that the chance of winning will be still high. Then if win i. Early round. I already withdraw my profit then come again on the other day and enjoy spending my profit.
This is a good example of Gamblers Fallacy, you think that if you just lost a bet than the next have a higher chance of winning. In fact, your bets don't have any connection to each other, it doesn't matter if you have just lost or win, the next roll will be absolutely random and with the same chances of losing or winning as any other bets. What matters is that you will always have less chances to win and more chances to lose, some games will allow you to minimize your risk, but your expected value will still be negative. |
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