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Author Topic: Bitcoin Price Betting  (Read 782 times)
dihari
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March 02, 2017, 06:40:27 AM
 #21

https://btc-e.com/bets

I really don't understand this. They are letting you bet on what the price of bitcoin will be in 5 minutes. How is this fair at all? Could a whale not bet and then buy/sell to take everyones money?
It is not something new on gambling world. Because of extreme fluctuations of bitcoin prices, it's good to place a bet on up or down the price. I see it first on secondstrade service on their website.

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March 02, 2017, 07:23:41 AM
 #22

People are making money in millions doing this, however I wonder how does it work as which exchange price is the base reference price or the average price is taken? if average price is the base then you going to have a very big whale in order to manipulate at least 5 major exchanges prices all at the same time.
Another method would be selecting the last digit of a price in every 5 seconds like you bet that after 5 seconds price will have a 1 at the end like $1191.
It all goes back to the old fashion dice and just a matter of mathematics only painted in an exciting strategy.


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March 02, 2017, 08:06:18 AM
 #23

People are making money in millions doing this,

you are confusing betting on the price with trading.
when you bet on the price to go up or down within a couple of minutes and make millions you are surely losing 2x millions doing it because it is gambling.
but when you are trading, and make a bet on price goes up or down you don't lose if it goes down, you just make less profit because you can get out and enter at lower to sell on high again and save on big losses and make the profit.

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March 02, 2017, 09:37:31 AM
 #24

Bitcoin price betting is completely risky than normal sports betting, because with sports betting one can at least predict close results. With bitcoin speculation is the only possibility. Even if these events were added to directbet or something trustful then go for I. Else don't show interest upon such events.

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March 02, 2017, 12:00:26 PM
 #25

https://btc-e.com/bets

I really don't understand this. They are letting you bet on what the price of bitcoin will be in 5 minutes. How is this fair at all? Could a whale not bet and then buy/sell to take everyones money?

btc-e do this? how it could be? i think we don't have to go with that sites because i think its not fair, it means that bitcoin price is manipulated by big whale and this could make people get into trapped. but i don't know what is people react about this and i think its better for me to not make a bets in that site because i am sure in out there, many sites that is waiting to visit and waiting us to play in their site. but i am curious about this bets and maybe i will take a look into the site and i think i want to know more.
curiosity will makes you try to use the service mate, i don't want to this feature since most of us knew that btc price can be manipulated by the big
whales if we go and bet using this site and whale's detect this they can easily move the price to their edge and most of the players will lose, its the reality inside crypto.

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March 02, 2017, 12:23:23 PM
 #26

Bitcoin price betting is completely risky than normal sports betting, because with sports betting one can at least predict close results. With bitcoin speculation is the only possibility. Even if these events were added to directbet or something trustful then go for I. Else don't show interest upon such events.

Yeah. Bitcoin price is always varies and it is very hard to bet on it's price because of many factors to be considered. But it is interesting to bet on it considering that bitcoin behaviour right now is on uptrend and we made a profit with that hint. I wonder what site will offer this feature. Even directbet is still no intention about that.

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March 02, 2017, 02:02:04 PM
 #27

https://btc-e.com/bets

I really don't understand this. They are letting you bet on what the price of bitcoin will be in 5 minutes. How is this fair at all? Could a whale not bet and then buy/sell to take everyones money?

Not fair at all but awesome still! You could influence it big time!
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March 02, 2017, 02:09:47 PM
 #28

Ahahha, a thought that was not a good friend. for all things definitely have goals and purpose, so if the price of the bitcoin used for betting then it's not a problem. Because they also want to get a huge profit in a short time, so many people are vying to find the best and fastest way. I am convinced that Btc-e.com have a reputation and a high confidence as well, so that's something that's fair. but it must be done the right way, in order not to get a big loss


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March 02, 2017, 03:43:57 PM
 #29

https://btc-e.com/bets

I really don't understand this. They are letting you bet on what the price of bitcoin will be in 5 minutes. How is this fair at all? Could a whale not bet and then buy/sell to take everyones money?

My friend, just stay away from those sites, unless you can predict it every now and then.
They just going to get what you have saved. You hard earned money is at stake if you invest in these type of sites. So be careful with them.
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March 02, 2017, 03:58:13 PM
 #30

https://btc-e.com/bets

I really don't understand this. They are letting you bet on what the price of bitcoin will be in 5 minutes. How is this fair at all? Could a whale not bet and then buy/sell to take everyones money?
The chick in your avatar, is that you? you don't need to stress your skin by thinking too much sweetheart. let me gamble with a money that I don't have while trading requires you to have money and actually buy and sell to profit, in this case you predict the future price and you'll win if are correct.
This option is good for those with small pockets, they can also cheat easily since it's called "bet on bitcoin price" no hassle to implement a provably fair mechanism.
How are you going to prove that the price was at $xxx in a certain time? you can't but they can show you whatever suits them best and let you to blame the "bitcoin price".

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March 02, 2017, 04:26:41 PM
 #31

https://btc-e.com/bets

I really don't understand this. They are letting you bet on what the price of bitcoin will be in 5 minutes. How is this fair at all? Could a whale not bet and then buy/sell to take everyones money?
The chick in your avatar, is that you? you don't need to stress your skin by thinking too much sweetheart. let me gamble with a money that I don't have while trading requires you to have money and actually buy and sell to profit, in this case you predict the future price and you'll win if are correct.
This option is good for those with small pockets, they can also cheat easily since it's called "bet on bitcoin price" no hassle to implement a provably fair mechanism.
How are you going to prove that the price was at $xxx in a certain time? you can't but they can show you whatever suits them best and let you to blame the "bitcoin price".

Good job showing people how to pick-up chicks my man. Real smooth!

Betting on bitcoin prices are really stupid in my opinion, unless they are linked to a trading platform like poloniex or kraken, then I think it is possible to do. If you see that it actually rises and falls similar to the real time rise and fall of the exchange then you have a chance to manipulate your bets. But that is not the case in any gambling binary trading game. They indeed just show what they want to show, heck you don't even know where they are pulling their data from.

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March 02, 2017, 05:09:18 PM
 #32

https://btc-e.com/bets

I really don't understand this. They are letting you bet on what the price of bitcoin will be in 5 minutes. How is this fair at all? Could a whale not bet and then buy/sell to take everyones money?

Its simple to me, everything in this world is based on chance and for that reason someone can win and another can lose simply by making a try. Right on this forum, I have seen a bet site that allows you predict the last number of your transaction id and if you correct, you win big and when you wrong, you lose all. its as simple as that when you are ready for it, just go with for it. But I am sure they will have a particular exchange site to serve as a model for their use...
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March 02, 2017, 05:48:39 PM
 #33

Its simple to me, everything in this world is based on chance and for that reason someone can win and another can lose simply by making a try. Right on this forum, I have seen a bet site that allows you predict the last number of your transaction id and if you correct, you win big and when you wrong, you lose all. its as simple as that when you are ready for it, just go with for it. But I am sure they will have a particular exchange site to serve as a model for their use...
The risk for these kind of betting is really high and with the high volatile nature of bitcoin you never know what the price would be even at a time gap of 5 minutes.Most gambling sites have a house edge which is much lower risk than predicting the price of bitcoin for a very small amount of time.
With a service like that even the exchange can manipulate the price of the coin if some huge amount is wagged . Smiley














 

 

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March 02, 2017, 06:17:39 PM
 #34

Its simple to me, everything in this world is based on chance and for that reason someone can win and another can lose simply by making a try. Right on this forum, I have seen a bet site that allows you predict the last number of your transaction id and if you correct, you win big and when you wrong, you lose all. its as simple as that when you are ready for it, just go with for it. But I am sure they will have a particular exchange site to serve as a model for their use...
The risk for these kind of betting is really high and with the high volatile nature of bitcoin you never know what the price would be even at a time gap of 5 minutes.Most gambling sites have a house edge which is much lower risk than predicting the price of bitcoin for a very small amount of time.
With a service like that even the exchange can manipulate the price of the coin if some huge amount is wagged . Smiley
This is the more dangerous thing to find what is the price for 5 minutes time gap. It's impossible to predict the exact price of the Bitcoin in particular point of time. No experts can give you the exact price. But this type of betting is more dangerous than other games in gambling. I don't take a risk, and I don't like to learn this betting.
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March 02, 2017, 06:47:19 PM
 #35

I think this is just the same as second trade that you have a choice to bet on high or low the hard part there you need to send every time you are betting.. And i think it is also the same in sparkprofit which is you will be bet and set your own margin..

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March 02, 2017, 07:06:40 PM
 #36

I think this is just the same as second trade that you have a choice to bet on high or low the hard part there you need to send every time you are betting.. And i think it is also the same in sparkprofit which is you will be bet and set your own margin..
Yes second trade does have the same method of betting but in the case of second trade they use a price range from an exchange not controlled by then but i dont know what will happen when an exchange start these type of betting and if they can influence the price in their exchange then it will be a monopoly as they can determine what the price would be at a given time.

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March 02, 2017, 09:00:29 PM
 #37

OneHash is by far the best place to do this sort of betting as they have oil prices and gold prices also other commodities to bet on all in one place. Grin

michkima
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March 03, 2017, 01:43:26 AM
 #38

I think this is just the same as second trade that you have a choice to bet on high or low the hard part there you need to send every time you are betting.. And i think it is also the same in sparkprofit which is you will be bet and set your own margin..
Yes second trade does have the same method of betting but in the case of second trade they use a price range from an exchange not controlled by then but i dont know what will happen when an exchange start these type of betting and if they can influence the price in their exchange then it will be a monopoly as they can determine what the price would be at a given time.
They can't really control the prices of bitcoins or any altcoins. If they do, they would practically be showing incorrect stats on their trading platform which would in the end just hurt their business. For example, if they want to show a pump just to make a dump bet lose, that would influence the market and really destroy the equilibrium of things in the exchange.

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