I'm starting to see, and recognize that merely "accepting" deposits through the Lightning Network "because cheap/fast Bitcoin transactions" might not be enough to attract users to actually force them to use it. Altcoins have been doing the job good enough for many users for fast/cheap transactions. But shower thought, what if a casino with absolutley NO KYC as a unique selling proposition, and built directly on top of Lightning like the way DirectBet was built on top of the Bitcoin blockchain? As an example, a casino like this, but with more games, https://lightning-roulette.com/I've seen one site put in Lightning and then after a while remove it anyway despite most people there using BTC to play. Especially the past few years fees have really been cheap enough to send normally, I guess the demand isn't as much as we would have thought. It's more complicated than "demand for Lightning isn't high". It's also because, as I said in my post that you quoted, a lack of unique selling proposition for the casino/lack of unique value proposition for the user to use the Lightning Network. It's not only happening in casinos, but also in exchanges as well. As debated, what if a casino, or an exchange was built on top of Lightning and offered NO KYC as a unique selling proposition? I believe it might be something many people in the community would like. |
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OP, that chart is just from first of March to end of May. That's merely 3 months, and not enough data to say that the correlation has truly weakened. When in doubt, always zoom out. Can you post the link of the site, and can we zoom out? This is the zoomed out chart from CoinMetrics, https://charts.coinmetrics.io/correlations/  The correlation is currently in ATH. I believe it's because Bitcoin has become very mainstream and has surged in adoption among legacy market investors/traders. |
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fiulpro posted an interesting concept about NFT Slot Machines, https://bitcointalk.org/index.php?topic=5400899.0Can a concept like it be built within a Bitcoin casino like Blackjack.Fun? I believe NFT collecting through games can be turned into a more sustainable hobby than betting money away. It would also make the same users keep coming back to the site, creating a dedicated community of collectors. I think the concept can work properly for the bitcoin casino, but it needs further research because if the NFT does not have or give benefits to the members, it will have no use for them and will be just for collection without selling it at the market. The benefit could be different monthly lotteries to win bonuses for NFT owners. Or there could be a monthly raffle for the type of trait a card has that can be given higher cashbacks, or given free casino currency to use in different games. There can also be "combination raffles", with two or more cards are needed to unlock a bonus.
A dedicated community of collectors needs a market to buy and sell the stuff like NFT and if the casino accommodates it, the casino will be a place for the market and not just for a gambling place.
It doesn't have to be a "market" for buying and selling NFTs in exchange for Bitcoin. It can be a place for direct NFT-to-NFT trading.  fiulpro posted an interesting concept about NFT Slot Machines, https://bitcointalk.org/index.php?topic=5400899.0Can a concept like it be built within a Bitcoin casino like Blackjack.Fun? I believe NFT collecting through games can be turned into a more sustainable hobby than betting money away. It would also make the same users keep coming back to the site, creating a dedicated community of collectors. I think the concept can work properly for the bitcoin casino, but it needs further research because if the NFT does not have or give benefits to the members, it will have no use for them and will be just for collection without selling it at the market. A dedicated community of collectors needs a market to buy and sell the stuff like NFT and if the casino accommodates it, the casino will be a place for the market and not just for a gambling place. IIRC rollbit has this kind of NFT but in a form of Rollbot but the article shared on the link was NFT for the casino built on metaverse. Meaning the casino is running on blockchain which is easy them to implement NFT with benefits to its user unlike centralized casino like blackjack.fun. I think NFT idea is not easy to implement on our casino and as you said already, It really need to have proper research and devs to work on that particular area. What blockchain is that casino built on top of? Does it function like DirectBet? |
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fiulpro posted an interesting concept about NFT Slot Machines, https://bitcointalk.org/index.php?topic=5400899.0Can a concept like it be built within a Bitcoin casino like Blackjack.Fun? I believe NFT collecting through games can be turned into a more sustainable hobby than betting money away. It would also make the same users keep coming back to the site, creating a dedicated community of collectors. |
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I believe if Russia's economy fails more and more, there might be a Black Swan that's getting itself ready to emerge, and show itself to everyone's surprise/shock. Will it be World War III? I don't know. Naseem Taleb didn't use the expression Black Swan to define some that would predictable. If it's indeed to be a Black Swan, we will never know, nor will it be predicted. We can guess though. vy can launch missiles at Ukraine. The ports where submarines regularly docked in Sevastopol’s Southern Bay (Crimea) were empty on the afternoon of 13 May, Crimea Realities, a local media outlet, has claimed. The Russian Black Sea Fleet consists of six submarines of the “Varshavianka” class: B-261 Novorossiysk, B-237 Rostov-na-Donu, B-262 Stary Oskol, B-265 Krasnodar, B-268 Veliky Novgorod, and B-271 Kolpino. https://eurasiantimes.com/russian-submarines-are-now-in-the-black-sea-as-moscow-ukraine/ |
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Despite being underwater on a portion of BTC positions, data shows long-term holders continuing to accumulate Bitcoin in its current range.
People may have learned not to miss the accumulation phase. The current Btc price is more than -50% from the last ATH, I guess that's almost 60% loss. So, this current region where Btc has been revolving might be the bottom of this bearish period. Nevertheless, when Btc continue to dip, we are going to expect more accumulations. Bottom price wouldn't fall below $20k most probably, judging on how investors are reacting with the current Btc position. If you are aware of the current macro-economic events, it's debatable. The Fed in the U.S. continues to fight inflation by lowering demand through quantitative tightening, raising interest rates, and contracting the balance sheet. In the E.U., it has been recently recorded that its inflation is also high at 8.1%, and would also need their own QT, own raising of interest rates, and contraction of the balance sheet to lower demand. There will not be a "soft landing", but a hard one, forcing a recession. |
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The concept is new and from what I see is targeting a bigger user base because NFT-s can be sold and people have already paid nice amounts of money for a single NFT so far. That is I think the main selling point of this new concept. Personally I am extremely conservator when it comes to gambling so I like much more the traditional slots without added bonuses like the NFT-s but that is just me.I think most people will really like the concept and this will just boom even more with the passing of time.
Although the market and making profit from the original investment is a part of HODLing NFTs, I believe the creators of NFTs should also make them more dynamic, if possible, and therefore making them more "valuable" depending on how long it has stayed in a user's wallet. To illustrate, let me give you a shower thought. What if a "common NFT", but a dynamic one, would increase its probability of "generating" a rare trait if it stored in a special wallet, giving the holder an opportunity to increase his NFTs value? |
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I really like the concept, the fact that users can win NFTs on a slot machine is new for me, and for sure some of those NFTs have a nice value on the market.
The fact that we have to sell that NFT to make a profit from our bet makes me think how users will gamble more for the collectible than for money.
I like the concept too. I also admitted my mistake in saying that NFTs are Tulip Mania 2.0. https://bitcointalk.org/index.php?topic=5377417.msg59219783#msg59219783Although, there will be some people in the forum who wouldn't like it because their belief remains, "NFTs have no value". I have debated against it, and asked who are we, as plebs, to say what has, or has no value? It's the market that decides "value", including shitcoins. https://bitcointalk.org/index.php?topic=5377417.msg59247492#msg59247492Plus the concept of "NFTs" was already mentioned by Hal Finney. I believe Bitcoin as a protocol has missed the ride in this development.  |
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I believe we might be in that phase when everyone else starts to think that Bitcoin has reached the bottom of the current cycle, and that it couldn't go down further anymore. BUT remember when Bitcoin was crabbing around $6,000 during 2018, and then it crashed down to $3,000 in November, 2018? Bitcoin $29,000 might be the new $6,000. I wonder if it's the same in the stock markets really. Big tech ones like Mr Musk's own is still down more than 50% from ATH (same as Bitcoin really) and if there are stubborn long-termer Bitcoiners soaking up all the sell orders, I suspect the same is happening elsewhere across the board with global markets. Forex, stocks, commodities. Just believers biting down hard and coping.
Didn't mean to sound like a dampened blanket, just wondering if/when Bitcoin will shrug off the correlation this year.
I thought it has de-coupled a week ago, when bitcoin goes ~$30k, stocks soars. But this is just short lived though as both market finally have a good break out run. But yeah, bitcoin long term holders will always take advantage and whenever they can, will build their wallets again with this cheap bitcoins from those panic sellers. And so let's see if we can get the numbers at least $32k at the end of the week. But when the Federal Reserve turns off the tap, I believe the U.S. markets affect ALL markets around the globe, and it has always been that way as long as the U.S. is the global leader, and having the largest economy. |
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I have been an early adopter of the Bitcoin lightning network and a strong advocate, I will gladly use the service if it is available in any casinos. The mass adoption of lightning networks will be more effective if there is high demand for platforms such as casinos.
There are already some casinos that integrate lightning network which is really good to look at or make use of but the main issue is the trust that do connects with it that's why they aren't really able to get sufficient number of players due into that kind of problem which is something not surprising. I've seen that this one is done well but not all would really be that confident on using LN yet they do say that it's still on developmental state and they do much prefer those older ways. I'm starting to see, and recognize that merely "accepting" deposits through the Lightning Network "because cheap/fast Bitcoin transactions" might not be enough to attract users to actually force them to use it. Altcoins have been doing the job good enough for many users for fast/cheap transactions. But shower thought, what if a casino with absolutley NO KYC as a unique selling proposition, and built directly on top of Lightning like the way DirectBet was built on top of the Bitcoin blockchain? As an example, a casino like this, but with more games, https://lightning-roulette.com/ |
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If I were in the management of bitlucy, I would consider switching to an Igaming provider. Then you have everything ready and the software and platforms are 100% reliable and also extensively tested. You can now remove a few mistakes, but those mistakes will come back another time in a different form. You have just started advertising on the forum, now is the time to switch platforms.
Man as far as I know the problem is not from the provider but from users who abuse bonuses , I don't think the problem is this complicated because only by removing the bonus or update the requirements the problem is solved, we don't know what update they did so it will take longer. we'll find out tomorrow and see if there really a change of provider. The most efficient, and probably the only update a casino can do for fraud prevention is KYC. Fraud/cheat detection through software alone is an unsolvable problem. Cheaters, the smart ones, always find a flaw in the system, then exploit it, causing the developers to patch the flaw, then cheaters find another flaw for the developers to patch again. It's the same problem in everything that involves software. Implementing KYC is also not the most efficient way may be efficient to prevent bonus abuse but users don't like KYC
You probably know most gamblers avoid KYC if it is implemented here then Betlucy will lose to compete with casinos without KYCBut if it is applied to some suspicious users then it can be considered and must be explained in the T&C. That doesn't make the efficiency and convenience of KYC to prevent cheating and multi-accounting any lesser. But if you believe it's not the most efficient way to handle it, then what would be the more efficient/better way? We have seen none that could replace KYC. We've had seen the same evolution happen with KYC in centralized exchanges. It's just simply easier, more cost-effective, and more efficient for any centralized service. |
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Merely one of the many charlatans who are using the most obvious of Bitcoin predictions to increase their influence among inexperienced Bitcoin HODLers, and scam them out of the most precious thing they own. Yes, obviously it's their Bitcoins. Although, it's hard to disagree with his Bitcoin "long term bullishness". |
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If the miners ever can decide which transaction to include or not then its not decentralized anymore. Whichever that comes in the mempool will be updated and eventually all shall be included in a block. If its designed to stop a transaction to go through, an imposed regulation will make it hard for users if the coins are tagged.
That's why it's the incentive structure that keeps everything stick together and actually work. If there was a miner who decides that only the transactions that he/she only likes should be included in the next block regardless of profit/incentive, then there's another miner who would be more willing to include those transactions as an opportunity to earn more. Given enough time, the miner who excludes transactions would earn less and less, and its competitors earn more and more, and grow bigger in hashing power, making the miner who excludes less and less competitive until it's unprofitable to mine. |
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The "nonce" is the random number stored in the coinbase transaction to change the block hash. If you mean the block hash (the thing that's targeted to be below a certain number) then that'll change: when a new transaction is added; when a transaction is removed; or when transactions are moved inside the block.
The mining software takes transactions from the mempool of the node running and organises them (they normally prioritise higher fees but could also prioritise their own transactions too ahead of that). Transactions are immediately minable once they're sent to the node and some mining software may shuffle round transactions anyway for finding the solution for the next block.
OP, newbies, fellow plebs. The bolded statement in that post is a very important point. It's the incentive structure that makes the whole Bitcoin network/system stick together. I don't know if it was the same to many of you, but it took me some months after buying Bitcoin that I truly understood that for "decentralization" to "work", it's all about having incentives to keep everyone "honest". |
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Now, I want to try some of their bonuses again, but I'm a little afraid because of these current issues that winz has. I am completely aware that good bonuses are prone to abuse though, so I understand them. But still, I'm not that confident.
The accusations that have emerged so far are KYC obligations after wanting to withdraw funds and this is faced by players who activate bonuses, maybe if players never activate bonuses there will never be KYC obligations. So what you have to aware for is if you play on winz because the bonus must be ready with KYC obligations. Those other "scam accusations"/complaints that are also very common are those KYC obligations when a user has made some withdrawals before, then the casino/site asks them randomly for their identification. Hahaha. The problem is usually a user makes small bets and makes his/her withdrawal, then I believe the user deposits a larger amount, wins, withdraws, then he/she is asked for his/her identification. It's the same with centralized exchanges. Because of the probsbility of fraudand for compliance, they have to take extra security protocols including KYC. |
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If I were in the management of bitlucy, I would consider switching to an Igaming provider. Then you have everything ready and the software and platforms are 100% reliable and also extensively tested. You can now remove a few mistakes, but those mistakes will come back another time in a different form. You have just started advertising on the forum, now is the time to switch platforms.
Man as far as I know the problem is not from the provider but from users who abuse bonuses , I don't think the problem is this complicated because only by removing the bonus or update the requirements the problem is solved, we don't know what update they did so it will take longer. we'll find out tomorrow and see if there really a change of provider. The most efficient, and probably the only update a casino can do for fraud prevention is KYC. Fraud/cheat detection through software alone is an unsolvable problem. Cheaters, the smart ones, always find a flaw in the system, then exploit it, causing the developers to patch the flaw, then cheaters find another flaw for the developers to patch again. It's the same problem in everything that involves software. |
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~
I believe I was asking the wrong question. There is NO "solution", other than let the older generation die and be replaced by a younger generation more willing to accept Bitcoin, OR who might already be HODLing Bitcoin.
Yes, but there is a problem with your "plan". By the time it happens, we willl be the "older" generation, and, I don't know about you, but I don't want to wait that long. No, I still think that a better solution is to bring Bitcoin closer to the older generation, allowing those to learn about and get into it in a way that won't scare them away, and, giving them some fun things to learn about along the way. I love the idea that the "Bitcoin generation" can grow up and become a large part of the market, but I also think that there is value in being introduced to Bitcoin at any age. We all know about "old school" currencies, but there is a new, shiny form of money coming into the world now, and we don't want the "older" generation to be frightened off by it or feel like it's not something that they can understand. I'm not talking it about from my perspective, I'm talking about it from Bitcoin's perspective. For me personally, OF COURSE I want to see full acceptance/understanding today, but it's impossible. Bitcoin has to outlive a generation or probably two before it can have more favorable conditions socially and politically. |
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Shower thought on a person's age, learning Bitcoin, and accepting Bitcoin. Because most of the "older people", especially in government, reject it, then I usually ask myself, "how much longer must Bitcoin run to accepted by the no-coiners"?
I believe I was asking the wrong question. There is NO "solution", other than let the older generation die and be replaced by a younger generation more willing to accept Bitcoin, OR who might already be HODLing Bitcoin.
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On the plus side if russia is the next dominant superpower they may be bitcoin friendly. At least that would be one positive thing we might look forward to in the horror show that could be the future.
It will be positive, possibly for a while. A government will always be Bitcoin-friendly only if it's necessary. But if its own people within the country start using Bitcoin for their own purposes that also require censorship-resistance/self-sovereignty, I believe the "friendliness" will turn into hostility towards Bitcoin. There's also another example of this kind "friendliness". United States government to ease energy sanctions on Venezela. Why? Because it's necessary. Hahaha. |
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I looked at BTC on the MONTHLY and zoomed out to "ALL" and looked at the RSI..
To me there has only been 3 big bull runs... We are just slipping down from that 3rd one now.
The 2013/2014...... 2017/2018..... and the 2020/21......
The first 2 both lost 85% before reversing upwards.. Can we expect the same now?
We keep hearing "INSTITUTIONAL ADOPTION" and a bunch of other buzzwords but why wouldn't it be similar?
If we are to go 85% down from November ATH we can expect a $10,000 - $12,000 BTC..
Although the flag pole from the obvious bear flag that formed since November 17th takes us to $17/18k BTC..
Would love to hear some thoughts.
WE ARE? Isn't THAT another one of the biggest golden opportunties to purchase Bitcoin? Because, ser, if you're not HODLing Bitcoin, what would you be HODLing? There can NEVER be another "blockchain" that would become "a Store of Value". It's already Bitcoin. The developers of other coins had 10 years, and every one of them failed. |
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