Bitcoin Forum
August 18, 2019, 06:37:46 PM *
News: Latest Bitcoin Core release: 0.18.0 [Torrent] (New!)
 
   Home   Help Search Login Register More  
Pages: « 1 [2] 3 »  All
  Print  
Author Topic: Bitcoin casino's that don't have cold storage proof  (Read 2275 times)
lottoitaliano
Legendary
*
Offline Offline

Activity: 1134
Merit: 1000


View Profile
July 29, 2015, 10:20:19 AM
 #21

For me, cold storage to casino, not is guarantee of payment, because have money but can not pay later a big win. Every day i win to dice o casino, i withdraw
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1566153466
Hero Member
*
Offline Offline

Posts: 1566153466

View Profile Personal Message (Offline)

Ignore
1566153466
Reply with quote  #2

1566153466
Report to moderator
1566153466
Hero Member
*
Offline Offline

Posts: 1566153466

View Profile Personal Message (Offline)

Ignore
1566153466
Reply with quote  #2

1566153466
Report to moderator
1566153466
Hero Member
*
Offline Offline

Posts: 1566153466

View Profile Personal Message (Offline)

Ignore
1566153466
Reply with quote  #2

1566153466
Report to moderator
fox19891989
Hero Member
*****
Offline Offline

Activity: 840
Merit: 1000



View Profile
July 29, 2015, 10:27:49 AM
 #22

For me, cold storage to casino, not is guarantee of payment, because have money but can not pay later a big win. Every day i win to dice o casino, i withdraw

+1, we don't need a cold storage proof, we just need solid withdrawal proof, a cold storage proof can't prove payment, the best example is that satoshidice has a cold storage proof, but it doesn't pay to some players now.

Many good and reliable casinos don't show them but they pay instantly, no cold storage proof means nothing.
Dennis7777
Hero Member
*****
Offline Offline

Activity: 640
Merit: 500



View Profile
July 29, 2015, 10:32:09 AM
 #23

For me, cold storage to casino, not is guarantee of payment, because have money but can not pay later a big win. Every day i win to dice o casino, i withdraw

+1, we don't need a cold storage proof, we just need solid withdrawal proof, a cold storage proof can't prove payment, the best example is that satoshidice has a cold storage proof, but it doesn't pay to some players now.

Many good and reliable casinos don't show them but they pay instantly, no cold storage proof means nothing.

It is true that a cold wallet proof doesn't guarantee your withdrawal will be processed, but so as the withdrawal proof.
The sites paying out instantly today, could stop paying tomorrow, and we have all seen several examples of that.

PocketRocketsCasino
Legendary
*
Offline Offline

Activity: 882
Merit: 1000


View Profile
July 29, 2015, 10:33:03 AM
 #24

For me, cold storage to casino, not is guarantee of payment, because have money but can not pay later a big win. Every day i win to dice o casino, i withdraw

+1, we don't need a cold storage proof, we just need solid withdrawal proof, a cold storage proof can't prove payment, the best example is that satoshidice has a cold storage proof, but it doesn't pay to some players now.

Many good and reliable casinos don't show them but they pay instantly, no cold storage proof means nothing.

Proof of funds in cold storage shows that the casino actually has the funds to pay the bets they offer you to place. If they decide not to pay that's a different problem.

If I was looking for a place to play I would rather pick a site like PRC, BD, JD etc that shows proof of funds so I know they have the money to pay if I win and not a site like DaDice that doesn't show proof of funds. You cannot guarantee a site like that has the funds to pay you if you do win regardless of withdrawal history.
win win win
Sr. Member
****
Offline Offline

Activity: 265
Merit: 250



View Profile
July 29, 2015, 10:35:42 AM
 #25

Casino shills please go away, I know this is your favorite hang out, But real customers will see through your garbage.

to further the argument(not that its needed) please google Full tilt poker(now owned out by pokerstars) ponzi, They had instant withdrawals also.

There is no argument for this simple request not to be standard, If it makes some site wiser to the risk of having such large betting limits, then that's a step forward in this unregulated market.
The non shill comments in this thread all agree.
win win win
Sr. Member
****
Offline Offline

Activity: 265
Merit: 250



View Profile
July 29, 2015, 10:41:31 AM
 #26

For me, cold storage to casino, not is guarantee of payment, because have money but can not pay later a big win. Every day i win to dice o casino, i withdraw

+1, we don't need a cold storage proof, we just need solid withdrawal proof, a cold storage proof can't prove payment, the best example is that satoshidice has a cold storage proof, but it doesn't pay to some players now.

Many good and reliable casinos don't show them but they pay instantly, no cold storage proof means nothing.

Proof of funds in cold storage shows that the casino actually has the funds to pay the bets they offer you to place. If they decide not to pay that's a different problem.

If I was looking for a place to play I would rather pick a site like PRC, BD, JD etc that shows proof of funds so I know they have the money to pay if I win and not a site like DaDice that doesn't show proof of funds. You cannot guarantee a site like that has the funds to pay you if you do win regardless of withdrawal history.

Thank you for your contribution, That is all we want, The proof you at least can pay, If we happen to get lucky (or a few customers get lucky in succession)
FanEagle
Legendary
*
Offline Offline

Activity: 1246
Merit: 1021



View Profile
July 29, 2015, 11:11:36 AM
 #27

Well,from all the big wins I did,they always paid at least the casino I usually play




.




  ▄▄▄▄▄▄▄▄▄▄▄▄▄
▄████████▀▀▀▀███▄
███████▀     ████
███████   ███████
█████        ████
███████   ███████
▀██████   ██████▀
  ▀▀▀▀▀   ▀▀▀▀▀

  ▄▄▄▄▄▄▄▄▄▄▄▄▄
▄██▀▀▀▀▀▀▀▀▀▀▀██▄
██    ▄▄▄▄▄ ▀  ██
██   █▀   ▀█   ██
██   █▄   ▄█   ██
██    ▀▀▀▀▀    ██
▀██▄▄▄▄▄▄▄▄▄▄▄██▀
  ▀▀▀▀▀▀▀▀▀▀▀▀▀

            ▄▄▄
█▄▄      ████████▄
 █████▄▄████████▌
▀██████████████▌
  █████████████
  ▀██████████▀
   ▄▄██████▀
    ▀▀▀▀▀

    ██  ██
  ███████████▄
    ██      ▀█
    ██▄▄▄▄▄▄█▀
    ██▀▀▀▀▀▀█▄
    ██      ▄█
  ███████████▀
    ██  ██




               ▄
       ▄  ▄█▄ ▀█▀      ▄
      ▀█▀  ▀   ▄  ▄█▄ ▀█▀
███▄▄▄        ▀█▀  ▀     ▄▄▄███       ▐█▄    ▄█▌   ▐█▌   █▄    ▐█▌   ████████   █████▄     ██    ▄█████▄▄   ▐█████▌
████████▄▄           ▄▄████████       ▐███▄▄███▌   ▐█▌   ███▄  ▐█▌      ██      █▌  ▀██    ██   ▄██▀   ▀▀   ▐█
███████████▄       ▄███████████       ▐█▌▀██▀▐█▌   ▐█▌   ██▀██▄▐█▌      ██      █▌   ▐█▌   ██   ██          ▐█████▌
 ████████████     ████████████        ▐█▌    ▐█▌   ▐█▌   ██  ▀███▌      ██      █▌  ▄██    ██   ▀██▄   ▄▄   ▐█
  ████████████   ████████████         ▐█▌    ▐█▌   ▐█▌   ██    ▀█▌      ██      █████▀     ██    ▀█████▀▀   ▐█████▌
   ▀███████████ ███████████▀
     ▀███████████████████▀
        ▀▀▀█████████▀▀▀
FIND OUT MORE AT MINTDICE.COM
vendetahome
Hero Member
*****
Offline Offline

Activity: 658
Merit: 500


View Profile
July 29, 2015, 11:14:25 AM
 #28

Well,from all the big wins I did,they always paid at least the casino I usually play
it depends on what you call big payments, 1 bitcoin can be big for you and small for me or vice versa also paying some big wins doesnt mean they will be legit in the future
FanEagle
Legendary
*
Offline Offline

Activity: 1246
Merit: 1021



View Profile
July 29, 2015, 11:24:47 AM
 #29

I meant, this year I withdraw from a certain casino 7 btc,and its a quite decent amount if you think about it




.




  ▄▄▄▄▄▄▄▄▄▄▄▄▄
▄████████▀▀▀▀███▄
███████▀     ████
███████   ███████
█████        ████
███████   ███████
▀██████   ██████▀
  ▀▀▀▀▀   ▀▀▀▀▀

  ▄▄▄▄▄▄▄▄▄▄▄▄▄
▄██▀▀▀▀▀▀▀▀▀▀▀██▄
██    ▄▄▄▄▄ ▀  ██
██   █▀   ▀█   ██
██   █▄   ▄█   ██
██    ▀▀▀▀▀    ██
▀██▄▄▄▄▄▄▄▄▄▄▄██▀
  ▀▀▀▀▀▀▀▀▀▀▀▀▀

            ▄▄▄
█▄▄      ████████▄
 █████▄▄████████▌
▀██████████████▌
  █████████████
  ▀██████████▀
   ▄▄██████▀
    ▀▀▀▀▀

    ██  ██
  ███████████▄
    ██      ▀█
    ██▄▄▄▄▄▄█▀
    ██▀▀▀▀▀▀█▄
    ██      ▄█
  ███████████▀
    ██  ██




               ▄
       ▄  ▄█▄ ▀█▀      ▄
      ▀█▀  ▀   ▄  ▄█▄ ▀█▀
███▄▄▄        ▀█▀  ▀     ▄▄▄███       ▐█▄    ▄█▌   ▐█▌   █▄    ▐█▌   ████████   █████▄     ██    ▄█████▄▄   ▐█████▌
████████▄▄           ▄▄████████       ▐███▄▄███▌   ▐█▌   ███▄  ▐█▌      ██      █▌  ▀██    ██   ▄██▀   ▀▀   ▐█
███████████▄       ▄███████████       ▐█▌▀██▀▐█▌   ▐█▌   ██▀██▄▐█▌      ██      █▌   ▐█▌   ██   ██          ▐█████▌
 ████████████     ████████████        ▐█▌    ▐█▌   ▐█▌   ██  ▀███▌      ██      █▌  ▄██    ██   ▀██▄   ▄▄   ▐█
  ████████████   ████████████         ▐█▌    ▐█▌   ▐█▌   ██    ▀█▌      ██      █████▀     ██    ▀█████▀▀   ▐█████▌
   ▀███████████ ███████████▀
     ▀███████████████████▀
        ▀▀▀█████████▀▀▀
FIND OUT MORE AT MINTDICE.COM
win win win
Sr. Member
****
Offline Offline

Activity: 265
Merit: 250



View Profile
July 29, 2015, 11:41:54 AM
 #30

I meant, this year I withdraw from a certain casino 7 btc,and its a quite decent amount if you think about it

your post aren't relevant, you should be able to see why, if you think about it.

I also got paid out more than you, This time, this time they decided to pay, the amount of my win was low enough for them to be more profitable keeping a average reputation for their casino, it's just business. We need to see that casino can handle our higher play without financial stress if we win big.
adaseb
Legendary
*
Offline Offline

Activity: 2058
Merit: 1144



View Profile
July 29, 2015, 04:24:26 PM
 #31

Most if not all casinos or dice sites use cold storage. However the problem is that most NEVER show proof because they don't have too. The only ones that do are the ones where you can be the bank.

████████████████████████████
████████▀▀ █▀ █▀ ▀██████████
█████████▄ ▄▄▄▄▄▄███████████
██████████▀     ▀  ▀████████
███████▀ ▀  ▄█▀▀▀█▀▀████████
██████▄      █▄  ▀▀  ▀██████
██████         ▄▄█▄ ▄ ▀█████
█████ ▄         ▀▀ ▄ ▀ █████
██████▌          █▀█▀ ▐█████
███████  ▄▌         ▄ ██████
████████▄█         ▄████████
█████████▀     ▄▄ ▄█████████
████████████████████████████
.JACKMATE'S...........
.
MAJESTIC..
████████████████████████
███████████████████████
████████████████████████
████████████████████████
████████████████████████
████████████████████████
████████████████████████
████████████████████████
████████████████████████
████████████████████████
████████████████████████
████████████████████████
████████████████████████
.
..WIN 1 BITCOIN ON EVERY PREMIER LEAGUE MATCHDAY..
████████████████████████████████
████████████▀█▀ ▀█▀█▀███████████
███████████▄ ▄▄▄▄▄▄▄████████████
███████████▀▀▄▄▄▄▄▄▄▄███████████
█████████▀▄ ██▀▄▄▄ ▀ ▄▀█████████
███████▀ ▀█████▄▄▄█▄▄▄██████████
███████▀▄████████▀  ▀█ █▐███████
███████ ▀█████████▄█▀▀██ ███████
████████ ███▀██████ ▄ ██ ███████
████████▌▐▀▄ ██████████ ▄███████
█████████▄██▌▐█████▀██ █████████
████████████▄▀▀▀▀▀▄ ▀▄██████████
████████████████████████████████
.
.JOIN US - IT'S FREE! .
dooglus
Legendary
*
Offline Offline

Activity: 2688
Merit: 1143



View Profile
July 29, 2015, 08:02:12 PM
 #32

Do you really think that's a fair argument? it makes me wonder why you argue at all, where does you illogical bias come from?... Until I see you signature. Casino shill, this forum is so corrupted it's no wonder the casino's have got away with whatever they wanted until now.

It would help if we had an idea who you were replying to. Click the 'quote' button to quote the message you are answering. We all have casinos in our signatures, so that little hint doesn't help much...

Just-Dice                 ██             
          ██████████         
      ██████████████████     
  ██████████████████████████ 
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
    ██████████████████████   
        ██████████████       
            ██████           
   Play or Invest                 ██             
          ██████████         
      ██████████████████     
  ██████████████████████████ 
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
    ██████████████████████   
        ██████████████       
            ██████           
   1% House Edge
win win win
Sr. Member
****
Offline Offline

Activity: 265
Merit: 250



View Profile
July 29, 2015, 08:09:05 PM
Last edit: October 19, 2016, 05:47:49 AM by win win win
 #33

Most if not all casinos or dice sites use cold storage. However the problem is that most NEVER show proof because they don't have too. The only ones that do are the ones where you can be the bank.
Yes, This should change. Gamblers should demand from the casino's they play at, instead just taking what they are given.
dooglus
Legendary
*
Offline Offline

Activity: 2688
Merit: 1143



View Profile
July 29, 2015, 08:14:46 PM
 #34

In that case you really can't do anything. If you plan on playing with a big amount then why would you in the first place go play online at an unlicensed casino , instead of flying out for a few hundred dollars to a live casino which is going to be a much better experience than playing online.

I would rather not get on a plane every time I want to make a large bet! It's a 3 hour drive to the nearest airport for me, then there's all the hassle of checking in, waiting in line, sitting on a plane for hours. I'd also have to convert my money into some kind of fiat before the casino would let me buy chips, then convert it back again if I won. I think I prefer to keep playing online.

As for financial management, sites which don't accept investments might not have their holdings in bitcoin and might actually be converting fiat to bitcoin at the instant a high roller winner requests a cash out as holding onto bitcoin is not a good way for a casino to manage their house bankroll which might have been converted to bitcoin from fiat in the first place.

If your maximum payout is a certain amount of BTC then it is dangerous to keep your bankroll in fiat. The price of Bitcoin can change very quickly and could leave you unable to afford the maximum payout any more.

Suppose I'm offering a maximum payout of 100 BTC, and figure that since my games have a 10% house edge I'm able to support such a payout with a 1000 BTC bankroll. But then I decide to keep the money in USD. So I have $300k put aside as the site's bankroll. Then over the next few weeks the price of Bitcoin shoots up to $1000 each. My $300k is now only worth 300 BTC and the maximum payout now represents 30% of my bankroll. That's horrible bankroll management.

I guess I could regularly adjust the maximum payout such that it's always worth the same number of dollars, so that it always represents the same percentage of my dollar-denominated bankroll. And maybe that's what some of these places are doing: using Bitcoin more like it was Neteller - just a way of moving dollars around, rather than as a currency in its own right.

Just-Dice                 ██             
          ██████████         
      ██████████████████     
  ██████████████████████████ 
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
    ██████████████████████   
        ██████████████       
            ██████           
   Play or Invest                 ██             
          ██████████         
      ██████████████████     
  ██████████████████████████ 
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
    ██████████████████████   
        ██████████████       
            ██████           
   1% House Edge
rodrigobitcoin
Legendary
*
Offline Offline

Activity: 1204
Merit: 1001


View Profile
July 29, 2015, 08:19:17 PM
 #35

Sorry for the noob questions  Grin

In the real casino with real money (like las vegas) have any proof of "cold storage" ? If a bet 1 milion $ to one roulette number, casino have all money in his strongbox ?  Grin
win win win
Sr. Member
****
Offline Offline

Activity: 265
Merit: 250



View Profile
July 29, 2015, 08:20:17 PM
 #36

Do you really think that's a fair argument? it makes me wonder why you argue at all, where does you illogical bias come from?... Until I see you signature. Casino shill, this forum is so corrupted it's no wonder the casino's have got away with whatever they wanted until now.

It would help if we had an idea who you were replying to. Click the 'quote' button to quote the message you are answering. We all have casinos in our signatures, so that little hint doesn't help much...

Done. My comments were not directed to you in anyway, Your bias isn't favoring a illogical support for your casino, Which also has a cold storage proof I see (y) Unlike so many in this forum.
marioantonini
Legendary
*
Offline Offline

Activity: 1568
Merit: 1000


View Profile
July 29, 2015, 08:44:17 PM
 #37

In the past i have invest more time in casino, but later more casino closed with money, for me the only option for sure 100% is cold storage but with escrow. Any casino use this? Escrow have a key for the cold storage
erpbridge
Legendary
*
Offline Offline

Activity: 955
Merit: 1000


View Profile
July 29, 2015, 08:52:34 PM
Last edit: July 30, 2015, 08:58:37 PM by erpbridge
 #38

Sorry for the noob questions  Grin

In the real casino with real money (like las vegas) have any proof of "cold storage" ? If a bet 1 milion $ to one roulette number, casino have all money in his strongbox ?  Grin
Yep They will definitely have that kind of cash in hand. They might also not be paying you out with cash but something like a check .

Haven't you seen the movies where they have a room fullof cash ? And most of the casinos are purely in this line of business so they wouldn't allow you to bet unless they themselves have that kind of cash with them .
vennali
Legendary
*
Offline Offline

Activity: 1246
Merit: 1005

www.Sparrowexchange.com |


View Profile
July 29, 2015, 09:01:46 PM
 #39

In the past i have invest more time in casino, but later more casino closed with money, for me the only option for sure 100% is cold storage but with escrow. Any casino use this? Escrow have a key for the cold storage
I believe I have seen several casinos talk about a multikey/sign escrow in the past but doesn't look like any of them actually implemented it. Not aware of all the complications that can result from it, but they will likely not be able to cashout a large investor immediately if they request one. And again it is impossible to know if the site investor is requesting that cashout or the site owner is. If the site owner wishes to cheat he can just play against the house and withraw those funds .

SPARROW
          ███
          ███
          ███     ███
          ███     ███
          ███     ███     ███
          ███     ███     ███
          ███     ███     ███
          ███     ███
          ███     ███
          ███
          ███

  Leading Options Trading Platform

          ███     ███     ███
          ███     ███     ███
          ███     ███     ███
          ███     ███     ███
          ███     ███     ███
          ███     ███     ███
          ███     ███     ███
          ███     ███     ███
          ███     ███     ███
          ███     ███     ███
          ███     ███     ███

  Take Control
  Trade Confidently

[/quote]
asuspc
Sr. Member
****
Offline Offline

Activity: 316
Merit: 250



View Profile
July 29, 2015, 09:11:48 PM
 #40

For me, cold storage to casino, not is guarantee of payment, because have money but can not pay later a big win. Every day i win to dice o casino, i withdraw

+1, we don't need a cold storage proof, we just need solid withdrawal proof, a cold storage proof can't prove payment, the best example is that satoshidice has a cold storage proof, but it doesn't pay to some players now.

Many good and reliable casinos don't show them but they pay instantly, no cold storage proof means nothing.

Proof of funds in cold storage shows that the casino actually has the funds to pay the bets they offer you to place. If they decide not to pay that's a different problem.

If I was looking for a place to play I would rather pick a site like PRC, BD, JD etc that shows proof of funds so I know they have the money to pay if I win and not a site like DaDice that doesn't show proof of funds. You cannot guarantee a site like that has the funds to pay you if you do win regardless of withdrawal history.

If anything can go wrong, it will! I am one of those who don't make a big deal out of this, after all cold storage doesn't guarantee my payout in anyway or like you said "that's a different problem."
Pages: « 1 [2] 3 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!