"Decentralized", does that mean gambling through Web 3.0 will be censorship-resistant? That no governing/regulating entity can shut the site down, or ban users from using the site?
It will likely be censorship-resistant because the government can't do much to the casino. In addition, the casino owner will make his casino outside the jurisdiction of the country that prohibits gambling. I don't know about the regulators of a country that can close a site but if it's outside the jurisdiction of that country, they can't do anything. That's not the point, what I mean is truly and technically censorship-resistant like Bitcoin. Because the purpose of decentralization isn't decentralization in and of itself, but censorship-resistance. Plus I'm asking, are these Web 3.0 casinos not merely centralized websites running on top of centralized data-centers/servers? It's a trade-off, and another set of challenges for the casino. Multi-accounting to take advantage of sign up bonuses could be one kind of swindle that a group of users can do to a casino without KYC.
Casinos will not stand idly by with multi-accounting that will be tried by a group of people because the casinos must have learned to deal with the problem. Every casino must have a problem with those multiple accounts but they sure know how to solve it. I believe not always, that's why they require KYC, it's easier for them than developing a security system which smart users can go around eventually. Plus casinos without KYC can also be used as mixers/tumblers. |
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Another shower thought. Can this be considered what they call a "Black Swan" event? Or were there enough amount of people who saw this Ponzi to crash like this because they knew how it actually worked? I admit that I was wrong for having the opinion that HODLing Bitcoin in Terra's reserves would a benefit for Terra. What it actually did was be a dis-benefit for Bitcoin because they are required to sell to maintain the peg.
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It is Do Kwon's fault if the Fed, and other government entities, step in and start another round of bans, regulations, and government FUD, causing Bitcoin to crash under the 200-weekly SMA line currently $21,843.85 right now. FACT.
Plus which of those other shitcoin protocols are "HODLing" UST/LUNA in their reserves/treasuries? They will DIE.
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Adding Bitcoin or any crypto is definitely only going to bring benefits to whatever you are bringing crypto to. As long as that system was dependent somehow on a monetary system for any reason. Gambling is only one of the many branches of industry which benefit from using blockchain technology. Although we have not yet come to the point where gambling is 100% transparent, decentralised, unregulated and fair. Smart contracts might not be complicated enough yet.
But I see web 3.0 as the next generation of gambling. And crypto will definitely be the key player in making that happen.
Web 3.0 can be a solution for decentralized gambling but it may still need more development and besides, casinos also need to upgrade to be able to use web 3.0. If that's the case, we might see something different next year and that could make the gambling business even better. "Decentralized", does that mean gambling through Web 3.0 will be censorship-resistant? That no governing/regulating entity can shut the site down, or ban users from using the site?
And it will provide convenience for gamblers because if they can gamble without KYC, it will provide security for them. After all, they don't have to give their data to third parties. But I don't know what the government will do regarding this because the government itself is likely to implement policies that are in line with technological developments.
It's a trade-off, and another set of challenges for the casino. Multi-accounting to take advantage of sign up bonuses could be one kind of swindle that a group of users can do to a casino without KYC. |
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Indeed, Buy the DIP, and HODL are good strategies to apply when investors are feeling FOMO, FUD, and various other potentially detrimental emotions. Especially when the price drops compared to when the price was purchased. This helps us to prevent wrong timing of sales in the market.
Easy to say but would really be hard when you are on the actual situation specially as of this moment where price decline is something recognizable or something which you cant ignore. Pretty much sure that to those who had bought on 36-38k are on panic now. Its true that buying even more on this price level is a good or ideal or simply talks about DCA. If you do still have that funds to invest then its up to your choice if you could still put risk but if not then its better to hold because price would recover no matter what but somehow knowing on when for it to happen is something that no one could really know. Investors who follow a truly DCA method don't panic, especially if the investment is in Bitcoin. Zoom out, where is Bitcoin going? Up. Plus from the use case side of things, the true underlying nature of Bitcoin,especially in geo-politics, might not be priced in yet. JuanJayGee is a believer of DCA, I respect his standpoint, but personally it's not good for my sanity. Hahaha. |
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@Daltonik. Is it a loan or have they dumped $750m of bitcoin to maintain the peg of 1 UST = 1 USD? Also, would that be enough? UST is presently $0.20 below the peg. It appears that Do Kwon will need to dump more. https://coinmarketcap.com/currencies/terrausd/It also appears that if Do Kwon can save UST and return the peg back to $1.00, will the cryptospace community still consider it a trustworthy stablecoin to hold? Shower thought. Why didn't Do Kwon keep their reserves in the U.S. Dollar to maintain the peg? Use Bitcoin in their reserves they bought last month, to sell them less than the buying price to defend the peg this month doesn't make logical sense. They should keep their reserves in cash. |
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I just visited the website and to be honest I wouldn't dare to make a deposit on there. There are too many red flags starting from the OP who created this announcement thread and never came back to address users concerns or answer their questions to the poor design of the website and the annoying ads that you will never find on any respectful and legit service.
I advice everyone to say away from this casino if they don't want to lose their money.
I will not form any conclusions that any Bitcoin service/merchant is a scam before showing any proof. I would also respect if people form they're opinions based on red flags that they notice/see. The solution, I believe is, OP should find someone who is trusted in the forum to vouch for them. The community we have in the forum is mainly based on trust. |
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The price still seems kinda high to me (like we should still be considering ourselves to be in a bull market). We've been around this area for quite a while and I don't think much has changed. I didn't expect up to reach 40k the last time we did and if we keep ranging between about 30k-40k (+/- a few k) then I think the price is pretty stable and strong.
We didn't have a blow off top this time either, we had a top that was reached twice and exceeded the second time. We have economic uncertainty to compete with this time too (2 years ago at the start of the pandemic, we crashed down to $3k)...
I think this is more a case of waiting for a strong break in either direction and either waiting for that to enter or just holding tight with what you have.
The United States' next narrative during the second quarter will be "We're in a recession!" causing markets to tumble and crash, and it will take everything with it. That announcement will be on June. Plus from the current price movement, there's more than 50% probability Bitcoin will crash to the 200-weekly SMA line in my opinion. |
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Those who followed this advice years back are glad they did. I know many still doubted just like we have in this present era. Buying the dip is just a candid advice in the Bitcoin investment cycle no matter how the price keeps falling. The next halving is some how around the corner like two years from now and we can expect another massive bull run
If they continue to doubt, ignore. If they ask for an opinion when to buy, ignore. Because if you make a mistake and price goes lower, they will blame you. If you give them an opinion when to buy, they will laugh at you. Some people laughed at me with this when I said Bitcoin MIGHT crash to the 200-weekly SMA line within the year. That's currently $21,858.63. |
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Let me add one more
Do not trade with shitcoins
If you trade with shitcoins, it can be the beginning of losses, if the trade does not favour you, you could have lost most of your trading funds until you realize what shitcoins are.
Some coins are also just like not rising during bull run but continue to be stagnant or fall, until the bear crypto begin and the shitcoin continue to fall more than others. That would indeed be a pain in the ass.
90% of plebs who day trade/swing trade shitcoins LOSE money given enougn time. Plebs will sometimes make some profit, but later, plebs will lose them back to the market. I learned it myself, the HARD WAY. I lost months and months worth of savings before I stopped, and started buying the Bitcoin DIP, and HODL since 2019. It's good for your pocket, and your sanity. |
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If they did, then that I believe, would make sense for WasabiWallet to accept the trade-offs to protect its users. They are making the trade off to protect their profits, not their users. That's merely part of it. They want to protect their own reputation too, and to maintain the users' trust, or what's left of that trust. Plus Wasabi isn't just a CoinJoin service, it's also a wallet where people hold some of their Bitcoins. |
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What do you think about my plan?
It's your decision, and it might actually be a good decision. But for a stupid pleb like me, I have all of my bids ready near the 200-week SMA line, which is currently $21,733.49. The price is moving to some point that makes a crash to, or near the 200-week SMA line more and more possible, and it always touched the line during bear cycles. I believe it could be as early as next month, or as late as 2023. |
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We made our points, and out of respect to all of you, let's just agree to disagree.  Did nopara73, or someone from the core Wasabi team know something about the U.S. government's sanction on Blender.io? If they did, then that I believe, would make sense for WasabiWallet to accept the trade-offs to protect its users. I hope it won't be another witch-hunt like the Canadian government did to the truckers. |
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What do you think about the Federal Reserve System meeting?
Is there any chance that bitcoin will fall as the dollar strengthens if they decide to raise interest rates?
We've seen the effects just now, in the 4 hour timeframe, Bitcoin goes down hard as they Feds are going to increased the rate hike to fight off inflation. So this is a negative news not just for crypto investors, but for the whole financial market as well. The result? all of them went down hard, Nasdaq, crypto, S&P. So it just shows that we have some kind of correlation with other markets as well. So the last push to $40,000 was just a bull trap and for sure maybe some of us get caught very bad by this action. Zoom out to the start of the year, or zoom out and start during November, 2021. It has been pricing everything in. Everyone in the Economics subforum has been talking about inflation caused by BRRR-money printing since 2020. We are currently feeling the effects right now. BUT, maximum zoom out, what does everyone think Bitcoin has truly been pricing in? |
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I sometimes think only the rich people should be gambling but in reality it is the exact opposite. Rich people almost never gamble but poor people gamble with the money they don’t own. This is a pretty sad case. Rich people only play the games which they will win. It is not a surprise, that's how they get rich. it is not a "rich person" approach but it is the correct approach in gambling! or not to care about the amount you lose, but play a figure that you can lose without the slightest regret, without even taking it into account in your spending budget! A truly rich person approach would be to own the casino in which you are gambling in, using the money you earned from the plebs to earn more money. Although the owner shouldn't be winning all the plebs' money all in one session of gambling. It should be done softly, and slowly. I believe it's the same with centralized cryptocurrency exchanges. Has anyone suspected that the operators of some exchanges might be taking the other side of the trade against you? In casinos, at least you know you are playing against the house. |
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https://cointelegraph.com/news/happy-birthday-hal-finney-crypto-community-honors-world-s-first-known-bitcoinerYesterday (04 May) it was the birthday of Hal Finney. First bitcoiner, true legend... The initial post written by Hal, let me tell you, is the most exciting of the whole forum. His message, his story, is touching, something human, out of the ordinary, prophetic, brilliant and unique. As if describing the flame of a candle, in its colors, in its strength ... and how a candle cannot last forever. He has dedicated his last thoughts to this creation essentially give importance to the utopian value of such a creation and not the economic implications. We should do this too. We can all be better people beyond our role in modern society. It's too bad that Bitcoiners like him, people who are most knowlegeable and who has the most invaluable insights in cryptocurrency networks as a whole are gone, or have left the forum. It would have been very nice to be guided by them. Plus the first pictures I saw of Hal Finney was him already wheelchair-bound, sick with ALS. I believe many people did too, and were probably also truly surprised to learn that he ran marathons, and that he was very active before the sickness.  |
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I don't know if anyone here is familiar with Color Game. It is like you need to bet on a specific color. It only has 6 colors to bet on and there are 3 cubes with multiple colors that you need to bet. Your money will be doubled if one cube is match in your bet (if 3 cubes are the same color as your bet, you will win 3 times). I know some of you are familiar with this and also, I just saw an app of this but haven't found so far as I know that there is online betting about this. This game is really simple and fun for me and I really like simple games that you can win also easily.  I remember this game is famous here in the Philippines where you can visit this kind of game into local fairs in the country. The funny thing is, the game is completely random and a lot of people participate here! The bet can also be relatively low compared to gambling establishments and I usually bring around p500 ($10) and win like p1000 ($20) at the end of the day. I really hope that this kind of game can be implemented digitally in an online casino. The game looks really fun and it somehow reminds me of the times where I used to visit local fairs back in high school. Yup, even below 18 years old can participate and play this game! That's why we have many "gambling addiction and what to do" topics everwhere the gambling subforum. Hahaha. But that game indeed looks fun and interesting. I believe it's the right time for Bitcoin casinos to include such games which could give them a fresh list of new games. They can also make a part of their casino/app a "carnival concept" to attract new types of players. Do you have a link where to get more information about that cube game? |
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You're not getting the right context, and missed the actual point completely. If you're merely a casual user/newbie who simply wants to use a mixer without the risk of tainting your coins, where can you go? What can you use?
Every time a casual user or any other type of user sends bitcoin or receives payment on their wallets, they are risking to taint their coins. Using "compliant" CoinJoin pseudo-privacy solutions like Wasabi Wallet won't help them escape being touched by dirty coins and will make things even worse because, from the standpoint of chain surveillance companies and other parasites, any CoinJoin transaction is always more suspicious and risky than any non-CoinJoin. It is because they deem suspicious everything they can't trace. You're right, and a tainted wallet owned by a nefarious user can send dust to thousands of other wallets to taint them, but that reply also got the debate out of context. I believe everyone is just trying to debate the debate because they disagree with Wasabi's new policy. From an idealistic standpoint, I understand, but from another standpoint, it's a trade-off. Users with tainted UTXOs can always use other mixers. Although you're also right, the simplest and most efficient solution for users who are, not criminals/have nothing to hide, are not mixers but centralized exchanges.
A centralized exchange is the simplest and most efficient way to swap your clean coins for taint coins legally. Can you tell for sure that all 100% of user deposits of tainted coins will not be confiscated by centralized exchanges? Is it 100% without risk to use the dark market to sell Heroine and send your UTXOs directly to Coinbase?
You're not getting the right context, and missed the actual point completely. If you're merely a casual user/newbie who simply wants to use a mixer without the risk of tainting your coins, where can you go? What can you use?
The correct answer is nowhere because every chain analysis company that I've seen has a section for CoinJoins and considers such transactions as "tainted" which means using Wasabi would also introduce "taint" into their coins even if all the participants had 100% clean coins. From that point of view, you're saying that just because someone mixed his/her clean UTXOs with other clean UTXOs in Wasabi then suddenly it's tainted? OK. You are taking it way out of context.
What you need to remember is that "taint" is a fake concept created by chain analysis companies. At some point in the future they could even start claiming that "any coin they can not deanonymize is tainted".
I know, I was the one who debated that taint doesn't exist in the blockchain. I believe it was a long debate with my best friend franky1. But from a practical standpoint, for a person who merely wants to mix his/her coins without the risk of the "taint", I believe the trade-offs accepted to use Wasabi, if he/she truly wants to use CoinJoin, is OK. Less risk. |
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This is off-topic, but I don't want to start a whole new topic just for this. It was Hal Finney's birthday yesterday. Happy birthday! I didn't know him personally, nor have I interacted with him anywhere, but I wish I did, I probably would have learned many things from him. The real knowledgeable Bitcoiners are gone, or have left. |
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That if someone who knows he has clean UTXOs simply wants "a little" privacy without the taint, Wasabi would be the better choice than choosing a mixer that will comingle his UTXOs with Mr. Heroine Dealer's UTXOs.
I disagree. People who don't care about their privacy don't normally look for privacy improving techniques in first place. Besides what you are saying is just an illusion of privacy not actual (a little) privacy. If anyone just wants mixing (eg. they want to prevent regular people from knowing their coins) they could just use the centralized exchanges they are already using to do that. You're not getting the right context, and missed the actual point completely. If you're merely a casual user/newbie who simply wants to use a mixer without the risk of tainting your coins, where can you go? What can you use? Although you're also right, the simplest and most efficient solution for users who are, not criminals/have nothing to hide, are not mixers but centralized exchanges. |
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