Do you think it makes sense if a crypto gambling platform only accepts it's own token for gambling and gambling on it's platform? It doesn't make sense because the casino will be missing out on the player that wanted to use different cryptocurrencies. While other casino are widening their range of payment/deposit options to cater more audiences, I believe it is a bad move to remove the variety of options to deposit in the casino. If the games they offer are one-of-a-kind, new, and addictive wouldn't this make the gambling token very valuable? I am asking on behalf of a friend who wants to build his own crypto gambling project on the blockchain. Will this work? Will this fail? What's your take on this?
Depends on the tokenomics of the project. If they only use their token to access special features in the casino, it will be valuable. Just like the strategy of Rollbit. They made their NFT valuable by implementing perks feature of their NFTs. |
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According to a report made by cointelegraph a few hrs ago, Genesis (a cryptocurrency lending firm) is about to file for bankruptcy as early as the upcoming week. What would be the impact on bitcoin's price? Should we be worried and sell a part of our portfolio to buy back a bit lower after the news ? Or better hodl? Eager to know what most of the ppl think. Personally I didnt use genesis ever myself  The market was not dumped as much by the Genesis bankruptcy as it was by the Terra Luna platform scandal and the FTX scandal. The Genesis bankruptcy caused a bit of a panic among people with the market dumping a bit. Currently the Bitcoin market is pumping and staying between $22700. Those of you who are long-term investors, keep your investments long-term. No need to worry the market will definitely grow. The recent downtrend of Bitcoin was not about the Genesis bankruptcy but rather the anticipation of the traders on the press release of DOJ about their cryptocurrency dealings. Many thinks of the press release as negative so they shorted their trade and turns out that the DOJ is just cleaning the crypto sphere of illegal trade activities which is somehow positive and may give confidence to the cryptocurrency market. I believe those who shorted had made losses because Bitcoin did not dump but instead uptrend. |
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Wow. That is an absolutely massive amount of money to lose in hopes of making a 1% gain. I wonder how many times that gambler has thrown around giant sums of money to get an easy score. I also wonder if this will be the last time this is attempted or if they’re so rich that 1.4 million is just play money to them. This is a great tale though for gamblers who chase the easy victories. There are no sure bets.
My educated guess is that he must've done it in the past and it paid off, so he kept going. Or maybe it was just a drunk, impulse betting. I wonder if he had an opportunity to make another 99% win-chance bet of $140 mil to recoup the lost $1.4 mil, would he do it? I'm pretty sure he would with little or no hesitation. I guess it is the first one where he has done this kind of thing and always paid off. But unlucky, this time when he tried to do the same strategy, he failed miserably since the team he thought is a sure win was beaten after the opponent catch up and win. This is indeed a rare situation, where a team leading by 27-0 will be beaten at the end of the game by 1 point 31-30. That's a huge loss and for sure from that amount the gambler is a rich person, like what you mentioned if he already has experienced losing in that same winning chance/rate he can go and move forward. We don't really know what is inside his mind after losing that unfortunate event. Maybe he will try back and see if luck will permit him to recover or he will learn his mistake and will quit away from these activities.
One point I did not get clear with ops situation is the way the 1.4 millions total lost was accumulated because from the look of thing, ops could not have place bet with the total amount mentioned in the ops. It could be a total accumulated loses within a long period of time bit definitely if it the other way around then the gambler must be a whale and a big bag holder to have wagered such a huge amount in one bet, and am sure if that is the story then ops must have made a lot of winning previously to have developed the motivation to stake such big amount at once. It wasn't accumulated, the article stated that the person put a 1.4m bet when the losing team was leading with a score of 27-0 then the winning team made a epic comeback with 31-30 win. The bet is 1 time bet of 1.4m. |
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It is still not late to hop in Bitcoin bandwagon. Bitcoin is still on its baby step so there are still lots of opportunities and profits to make. There are still life changer opportunities offered by industry, you just need to find them. Regardless, I am glad you are able to come into conclusion and despite of the regrets you face Bitcoin with an enthusiastic character. This is a good character to start your venture into Bitcoin ecosystem. I hope you are able to maximize the benefits in engaging in Bitcoin industry. Don't make haste and make sure you have all the knowledge needed in making your Bitcoin venture a success.
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What an unlucky fellow. I just hope, he really is a millionaire coz if not that is certainly depressing and might do the unthinkable. An average person would earn it in more or less than 10yrs of hard work. DK did a good job of protecting the identity of the bettor from further embarrassment or humiliation but not so much since it got leaked to Bleacher Reports not unless it has consent from the bettor.
This is one of the reasons why I'm not a fan of low odds, be it in sports betting or any casino games. I'm just wondering if he did it before. Not a million, but he bet a decent amount in low odds. He does not seem a first-timer to do such an extreme bet.
I also guess he is a millionaire who uses a lot of money to gamble. But if he is not a millionaire but just has a lot of money saved, it would not be worth using that money to gamble because he could just make an effort to make more money. Or maybe he accidentally placed a bet with low odds. There is still a lot of speculation about what happened to him to suffer such a big defeat while we don't know the truth. He must be a wealthy man to have 1,4$ million dollars under his disposal for gambling. I believe someone who has such amount of money and place a bet of that size knows what he is doing and the possible outcomes, what means that should be money he could afford to lose. Probably if he were a foolish addicted gambler he wouldn't be able to accumulate 7 digits and become a millionaire, as he would have already gone busted a long time before. Addicted gamblers have difficult managing their finances and growing their patrimonies. Discipline and self-control are indispensable on this matter. For sure the guy is a wealthy man because he can't afford to bet with $1.4 million if he is not. I wonder how the guy felt after finding out that the supposedly sure win bet for him had lost. I do not think the guys is addicted but I believe he has the capacity to bet millions of dollars. Beside, the team where he placed his bet is leading and probably he thinks that it is impossible for the other team to win because his team has huge lead. Sadly in gambling often times luck doesn't favor us. He thought it was a sure win but luck say, "no no no no". Well, indeed in gambling the most important factor to keep ourselves in check is self awareness and self control. To be a good gambler we must have these traits and we must also know the mechanics of gambling and its relation to random output. |
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Luck is not the based measurement on how better the casino is to another casino. @OP if you happen to lose that accidental win on BC I bet you will be saying otherwise. It is more complex if you wanted to know which casino is better and establish it as a fact. All you have atm is just a personal perspective which I believe many of us will refute. Not because you won in a certain casino, it makes a better casino than any other else when we all know that gambling result is random, and you might win in another casino a better profit than what your stated as accidental winnings.
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Why I think proof of stake is bad and bitcoin is the only true decentralized crypto. Everything else is a scam as we have seen with so many major altcoins imploding over the years. Anyone else agree?
There are probably many other reasons why I believe proof of stake is terrible but these are a few I can think of right now.
You can also add the flaws of POS why they are considered centralized - Wealth centralization - this means the more coins the holder has the more power he has on the system which can lead to a concentration of wealth and power among small group of people.
- Limited Validator Set - With the limited validator this can lead to centralization
- Limited Participation - PoS typically requires a certain amount of assets to participate as a validator, which can limit the number of potential participants and lead to centralization.
- Sybil attack Vulnerability - PoS systems is vulnerable to sybil attack, where attacker can create multiple identities to gain control of a large portion of network.
- Higher Barrier to entry - new participants may have a difficulty participating because of the higher entry requirement to be a validator which leads a centralization among the existing participants.
- Governance Centralization - PoS systems are often controlled by a small group of individuals or entities, giving them a disproportionate amount of control over the network's governance and decision-making processes.
Sources: https://medium.com/stakin/centralization-of-stake-in-pos-f7ccb8f8254https://www.quora.com/Why-does-proof-of-stake-invite-centralizationhttps://www.reddit.com/r/ethereum/comments/6d1mca/proof_of_stake_leads_to_centralization_with_worse/ |
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There is always this most painful season in crypto space that hurts even the strongest of crypto holders out there where they will almost give up, I don't believe that this bear market will be different, if you are here in 2019 you knew what I am talking about.
It will get to a point where many will start losing hope on crypto, a more painful bottom will occur and holders will lose faith, the bear market will look like it will be here forever.
We are not at this point yet so do not get too confidence that a new all times low is no more possible, no one saw COV-19 coming in 2020 and anything can still happen between 2023- 2024.
Are you thinking that this current Bitcoin uptrend is a bull trap? I also think that it is early for Bitcoin market to rally and reverse the trend but you know, this is cryptocurrency market, everything is possible, even breaking ATH (though very unlikely) may happen this year. There is always this most painful season in crypto space that hurts even the strongest of crypto holders out there where they will almost give up, I don't believe that this bear market will be different, if you are here in 2019 you knew what I am talking about.
It will get to a point where many will start losing hope on crypto, a more painful bottom will occur and holders will lose faith, the bear market will look like it will be here forever.
We are not at this point yet so do not get too confidence that a new all times low is no more possible, no one saw COV-19 coming in 2020 and anything can still happen between 2023- 2024.
What point are you talking about exactly and what data do you use to arrive at this conclusion that we are not out of the bear market yet, are you just speaking based on the last 24 hours' market condition which BTC deline with a 1.24% of it 48 hours market price. In as much as it is hard or almost impossible to speculate the market, we should not fail to employ every available data to help us arrive at a level conclusion devoid of just speculation but accompanied with facts and variable chat data, this period is far different from 2019 judging from both year chart and available data. the thing is can the market sustain the price trend? If they failed to maintain it, it is like possible that the price will start to correct thus we may see Bitcoin price to fallback. Aside from that, if this movement is a bull trap, it will take away lots of confidence in the market making or creating a possible sell off that may push the price of Bitcoin down. So far there is really no good news to make a hype on Bitcoin market. The latest we had is the CPI, and the explanation of short liquidation which might end any time soon. |
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Ok so it seems that Inoue vs Fulton is already set and the fight is going to be held in Japan, probably May-June, so this is a big news for us boxing fans. When we thought that Fulton is going to step up and go to 126 lbs because he doesn't want to fight Inoue. Let's wait for the official announcement, at least the path is clear now for Inoue to go after the belt but it's not going to be easy as he will be fighting a great champion as well. For sure this is going to be a lot of action in this fight. Fulton's highlights vs Brandon Figueroa. https://www.youtube.com/watch?v=YUwNHWdarW0Many are saying that the kind of fight Futon show in this video is not impressive enough, and they think that if Fulton do this kind of style against Inoue, he will be ko'ed since the fight shows that Fulton don't have enough power to shutdown a tough fighter like Brandon Figueroa and many said that it should have been a draw or Figueroa should have won the fight. Regardless, I believe this fight will test Inoue's power if he still have the power to KO higher weight division fighter. Aside from that I believe Inoue is too hasty to fight for the title fight, is he rushing himself to collect 9 division title to beat Manny's 8 division? I wouldn't be surprise that he will be jumping straight to the next Division title fight after beating Fulton. |
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Signature and avatar updated. Thank you for accepting me in this campaign.
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Hi Royse777,
I would like to inform you that I am leaving the campaign since I am accepted in another campaign. Thank you for the opportunity to work under you. Thank you very much and more power!
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Here's what I found when I was browsing Spence's request to the WBA to contest the fight at 154 pounds. It’s highly unlikely Spence (28-0, 22 KOs) will bother come back down to 147 and get filleted by Boots & Crawford. Spence isn’t another General McArthur who once said, “I will return.”
Spence isn’t returning to 147 after he faces Thurman at 154 because there’s too much risk involved at welterweight, and he’s not about to want to deal with all the danger, especially if he’s drained. SourceI think this is the most desperate move that I witnessed in the whole history of boxing industry. Errol Spence Jr. and Al Haymon was really too desperate to get themselves out of the welterweight just to maintain Spence's value and record. Also, the governing bodies shouldn't just agree with their request to make the Thurman-Spence fight at 154 lbs. because their image will be scathed as it looks to the public that they are eating their words that they said in the previous months. quote author=Vaculin link=topic=5420331.msg61605581#msg61605581 date=1673894219] If I were Thurman, I wouldn't take this fight because it's not what I wanted in the first place as there will be no belts on the line. I think he (Thurman) can take the fight and give his own condition. Reading the article is just confusing. How could a mandatory title defense @ 147 lbs or welterweight division be done in 154 lbs or jr. middle weight division? Isn't that ruling a joke? It looks like Spence and his promoter is more influential and has more authority than the governing bodies. I'm confused as well, if there's no belt involved, then we cannot call it a mandatory fight and Spence could say no if he wants to. Well, even if there's no belt involved, it will be okay for fans that are desperate to see some action as we will definitely see a real action of these two.
Yeah the current situation looks like a circus. Because Spence doesn't want to give Thurman a chance to fight in a title match he moves the fight to 154 lbs, while the governing bodies order a mandatory title defense. How ironic when the sports authority issue a mandatory title defense and the fight will be done on a different weight division, doesn't that makes the governing bodies a joke? |
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There are several suggestions to handle losses in technical and emotional terms Handling gambling losses in emotional term: - Acknowledge your feelings: It's important to acknowledge and accept your feelings of disappointment or frustration after a gambling loss. Ignoring or suppressing your emotions will only prolong the healing process.
- Talk to someone: Talking to a friend or family member about your feelings can help you process your emotions and gain a different perspective on the situation.
- Seek professional help: If your gambling losses are causing emotional distress, it may be helpful to seek the help of a therapist or counselor. They can provide support and guidance to help you cope with your feelings and develop strategies to prevent future emotional distress.
- Practice self-care: Taking care of yourself physically and mentally can help improve your emotional well-being. This can include things like exercise, meditation, yoga, or other stress-relieving activities.
- Set boundaries: Setting limits on your gambling can help prevent future emotional distress. This might include setting a budget, setting a time limit on your gambling, or avoiding certain triggers that lead to excessive gambling.
- Find a healthy distraction: Finding a healthy and fun distraction can be a great way to take your mind off your losses and improve your mood. This could include hobbies, sports, reading, or spending time with friends and family.
- Learn from the loss: Instead of dwelling on the losses, try to learn from the experience, reflect on what went wrong, and think about how you can improve your strategy for the future.
Handling gambling losses in technical term: - Keep records: Keeping detailed records of your gambling activities can help you understand your patterns of behavior and identify any potential problem areas. This includes noting down the date, time, amount, and outcome of each bet you make.
- Set a budget: One of the most important things you can do to handle gambling losses technically is to set a budget and stick to it. This will help you avoid overspending and losing more money than you can afford.
- Use a stop-loss: A stop-loss is a predetermined point at which you will stop gambling for the day or week. It's a great way to control your spending and avoid losing more than you can afford.
- Use a staking plan: A staking plan is a method of managing your bankroll that helps you make informed decisions about how much to bet on each outcome. This can help you avoid losing more than you can afford.
- Take a break: If you're feeling down about your losses, it's important to take a break from gambling. This will give you time to clear your head and reassess your approach.
- Seek professional help: If you feel like you have a gambling problem and that your losses are affecting your personal and professional life, it's important to seek professional help. There are many organizations that can provide support and resources to help you overcome your addiction.
- Use responsible gambling tools: Many online gambling platforms offer tools that help players limit their deposits, set time limits, or even self-exclude from the platform. These tools can help you control your gambling behavior and avoid excessive losses.
Usually whenever I experience gambling losses, I'll just take a deep breath and accept the fact that I lost, I never chase losses and I reflect on what to do next to avoid such kind of huge losses. It is easier to accept if we gamble money that we can afford to lose since it has no impact in our daily budget and finances.
sources: https://www.algamus.org/blog/how-to-get-over-gambling-losshttps://www.quora.com/What-a-person-should-do-if-he-lost-his-money-in-gamblinghttps://800gambler.org/how-to-mentally-cope-with-a-big-gambling-loss/ |
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I heard this strategy working but I like to know based on your experience if this is working. I have not experienced betting against public but I read whether it is profitable or not is somehow debatable. Some believe that public is often less informed and think that they are more likely to make mistakes but I think it depends on the kind of information we have. Just like the given example on the link given by @OP, betting on the underdog,even though gives a better odds, does not often result in a win. Thus betting against the public in this case work against us. for those who do not want to click out of the forum Betting against the public, or "fading the public," is a betting strategy that is based on the idea that the general public tends to make mistakes when placing bets. The reasoning behind this strategy is that the public is often less informed and more likely to be swayed by emotions and biases, which can lead them to make bad bets. By betting against the public, a bettor is essentially taking the opposite side of the most popular bet, and in theory, this could give them an edge if the public is indeed making mistakes.
However, it's important to note that there is no guarantee that this strategy will be profitable. The odds are set by bookmakers to balance the amount of money being bet on each side and calculate the risk, taking into account the public betting behavior. So, fading the public does not necessarily mean that you will be betting on the underdog or getting better odds, it's just that you're betting on the side that is receiving less support from the general public.
Additionally, it's important to keep in mind that the sports betting market is complex, and there are many factors that can affect the outcome of a game, including injuries, weather, and other unforeseen events. Therefore, it's important to use multiple strategies, and not just rely on betting against the public.
In summary, fading the public is a betting strategy that can be used by bettors who believe that the general public is making mistakes when placing bets. However, it's important to keep in mind that there is no guarantee of success and using multiple strategies is recommended. to reiterate the advantage and disadvantage of betting against the public Pros: - Contrarian approach - it goes under the belief of public often goes wrong thus betting against them, we may be able to get profit from their mistakes
- Better odds - by betting against the public we maybe able to find better odds
- Less Pressure - we are not swayed by the opinions of others and make our own decisions
- Market Inefficiency - bookmakers often adjust the odds on the public pattern and is not always efficient since their prediction isn't always correct, we can take advantage of this inefficency
- Consistency - eliminates the need for constant research and just follow the betting pattern since the sports betting market is ever changing staying on the top of the trend maybe hard.
Cons - Risk of losing - we may not be always at the winning side
- Lack of information - public may have access to better information which we may fail to acknowledge
- Unpredictability - with the different factor affecting the sports betting market, it is difficult to predict the outcome of the game with certainty
- Overvaluation - By betting against the public, you may be overvaluing the odds and underestimating the potential of the more popular team/outcome.
- Limited by own knowledge - if we don't have a good understanding of the sports we may be losing more
- Odds adjustment - bookmakers may adjust the odds to balance betting on both sides so betting against the public may not yield a better odds.
Also, this website is providing details about public bets, I'm not sure how accurate it is, but we can use this as a reference since I haven't found another one. You can also comment if you some reliable sites. https://www.actionnetwork.com/nba/public-bettingYou can also check http://www.thespread.com/nfl-football-public-betting-chart |
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I asked the question many times, but NEVER received a reasoned, logical answer. The question is extremely simple: how, and how will the real economy really benefit from the transition to Bitcoin?
Unfortunately, I have to state a fact - many supporters of Bitcoin as the currency on which the economy works, simply do not understand how the economy of countries works, what the central bank is, how the budget is formed, where inflation comes from, and much more ...
The simplest example of misunderstanding: bitcoin will "destroy inflation". Absolute stupidity. Bitcoin itself is indeed a deflationary "currency". But the economy, the economy and the state budget are formed in a completely different way, and a deflationary model is simply not possible in most real situations. Try to simulate and you will understand that the implementation of such a model will instantly lead ... to impoverishment and a drop in living standards, especially for the poor and socially unprotected segments of the population. And it will not solve the problems of the economy ...
In a technical perspective adopting Bitcoin will give the following benefit: - Financial inclusion - makes it easier for people who are underbanked or unbanked to access financial services.
- Reduced Transaction cost - without the need for intermediaries, international transfers are way too cheaper.
- Improved Security and immutability - with cryptography, transaction are secure and cannot be tampered with reducing the risk of fraud.
- Increased Transparency - since the blockchain that serves as ledger is public, it increase the transparency and accountability of the transaction
- Protection against inflation - with the fixed supply of Bitcoin, it help to protect against inflation by ensuring that the currency value is not eroded overtime
- Decentralization - since Bitcoin operates in a decentralized network , it can provide a certain degree of immunity from the government and central bank financial policies.
and in the contrary it also gives a negative impact in its current situation like: - Volatility - due to high volatility, it is risky and dificult for businesses to price their goods and services
- Lack of Regulation - due to lack of regulation it is more vulnerable to fraud and money laundering and make the business hard to comply with AML and KYC regulation
- Complexity - this makes it difficult for average person to understand and use.
- Limited Acceptance - at the current state of adoption, Bitcoin is not yet fully adopted making it hard for businesses to accept and consumers to use it.
- Environmental Impact - to secure the network, bitcoin needs miners and consumes a significant amount of energy which can possibly have a negative impact to the environment.
- Legal and Tax Implications - at the current state, Bitcoin is not legal to other countries, and it maybe subject to different regulations and taxes in different jurisdiction which can make it difficult for businesses to operate and for individuals to comply with tax laws.
- Accessibility - people who are not tech-savvy might find it hard to access Bitcoin which can limit Bitcoin's potential to reach wider audience.
- Digital Divide - to access Bitcoin network, people need an internet which make it difficult for people without reliable internet smartphones or laptops to participate in the economy.
So basically government are hesitant to adopt Bitcoin and cryptocurrency because of the possible negative implication it gives since the regulatory framework for Bitcoin and other cryptocurrency are yet to be formed. We have seen on the pros and cons that Bitcoin at its current state is more likely inclined with individual/group benefits that is not regulatory compatible while the negative impact happens when used to business that requires government regulation. And due to the need of internet and technical knowledge it will be bothersome to people who are not tech-savvy and have poor access to internet. I might say at the current state of technology and internet propagation, the world isn't ready yet to embrace Bitcoin in full or shift to digital currency, only few countries can provide the needed requirement for Bitcoin to fully operates.
Sources: https://www.sofi.com/learn/content/benefits-of-crypto/#:~:text=Transactional%20freedom%2C%20security%2C%20and%20ease,widespread%20use%20or%20adoption%20yet. https://www.fool.com/investing/stock-market/market-sectors/financials/cryptocurrency-stocks/benefits-of-cryptocurrency/https://cs.stanford.edu/people/eroberts/cs181/projects/2010-11/DigitalCurrencies/disadvantages/index.htmlhttps://www.investopedia.com/terms/c/cryptocurrency.asp |
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It was explained in this video[1] why the price of Bitcoin goes up this January. It stated that the price of Bitcoin rise because of the natural buy pressure of the market. It also said that the short liquidation is the majority reason why the price of Bitcoin goes up. One of the cryptocurrency news the video explained titled: Bitcoin breaks above $21k as short liquidation hit $725 million. To those who are new to the term short liquidation: Short liquidation is the process of closing out a short position in a security by buying an equivalent amount of the security on the open market. A short position is a type of investment strategy where an investor borrows shares of a stock or other security and sells them, with the expectation that the price will decrease. If the price does indeed decrease, the investor can then buy back the shares at a lower price and return them to the lender, thereby making a profit.
However, if the price increases instead of decreases, the investor will incur a loss. In this case, the investor will need to close out the short position by buying back the shares at a higher price and returning them to the lender. This process is known as short liquidation, and it is done to limit the potential losses of the investor.
Short liquidation can be a risky investment strategy, and it is not suitable for all investors. It is important to carefully consider the potential risks and rewards of short selling before engaging in this type of investment.
[1] https://www.youtube.com/watch?v=sQXh7lA_c3E&t |
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This reserve bank of India Governor failed to think the possibility negative impact of not accepting cryptocurrency or banning it. With an additional cryptocurrency as mode of payment their merchant are able to have a diverse set of customer, banning cryptocurrency will leave these merchants with limited customer base.
Also if the government failed to adopt cryptocurrency and the country around them are into cryptocurrency, their country will be in a competitive disadvantage. And also they will miss opportunities offered by the cryptocurrency and the growth that lies in this opportunity.
I do hope that the Reserve Bank of India Governor will realize the shortcoming if they ban cryptocurrency.
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Checked the whole discussion about this casino there are so many things that need to be address coming from member's questions, but unfortunately, the representative here is on vacation, bad sign for a newly announced casino, the first two weeks are very important to address all recommendations, concerns, issues, and questions, you don't announce your casino here and just left, the community will look analyze, test and explore your casino, so the first two weeks is crucial to gain the approval of the community.
Indeed, representative should be actively monitoring the thread and not just post the thread and poof.. and return after a week or two. Another thing is the concern: crooks.  I made a bet on the shampoo of Switzerland.the bet won but after it finished they voided the win.I ask in the chat why 1 late bet I call it, the bet is 2 days before the event 2 arbitrage betting 3 is doubtful 4 is how the system decided I started the chat in several groups and people burst out laughing  now i have minimum 5 events condition they are dirty scum Representative should tacke this with no delay, the should give an explanation why this thing happen or why this thing never happen. Although the presentation of the casino on the opening post is good, the attending time of the representative in this forum is somehow a turn off. |
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