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[STT]

229 BTC       Thats a heck of a problem to have, wow.     I hope LN becomes more of an ordinary thing in use.

the correct is 1 in 15, this is the logic of probability (if it is FAIR game).

The thing to consider here is the assumptions in the question.    A wheel is normally equally weighted at all points but in this case its virtual so some sections of this wheel have far more weight to them then others.    Even in a real casino they have to be extremely careful to avoid bias and wear in the roulette wheel, apparently it does occur naturally that bias develops to certain numbers.    I think on the TV show wheel of fortune it was so large they just placed more cards around the wheel to represent rare or likely events, in this case Rolex is so rare that wouldn't be possible.
  From the chart above, 50rp is about 30% likelihood outcome I think which still makes it alot better then the faucet for me & on 365 spins I get this 110 times maybe (zero and 365 also being possible :p).  I'd be happy with any of the golden ticket outcomes also so collectively thats a range of 174,999 which if we have 1 billion equal weighted possibles is 0.0175% so thats going to need alot of luck.   My best result I got twice was 5000 satoshi and presuming Im not placing the decimal wrong thats like 1.33% chance each day or like 1/3 mil Satoshi on average per year if you maxed the premium benefits out.

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[mindrust]

They should have implemented the Lightning Network to prevent that route from happening imo. If Bitcoin keeps rising 1 satoshi wwill be more valuable than "$0.0020" which they give for 5 satoshis now.

I've finally persuaded wetsuit to take a serious look at LN. It came from a discussion we had recently about our dust problem (229 BTC that's too expensive to consolidate).

First, we'll add Lightning Network deposits and after that's been running for a while we'll start charging a very small fee for sub 30,000 deposits via the blockchain to pay for the consolidation.

So you always knew LN is the way to move forward but Wetsuit didn't believe that... until now. I wonder why. He must have his reasons which I'd like to hear tbh. Anyway, congratz.

[TheQuin]

I wonder why. He must have his reasons which I'd like to hear tbh.

He was very cautious about it being stable and reliable enough. There being enough people using it to make it worthwhile and all the complications of implementing it. This isn't something that's going to happen immediately because there is a lot of work involved in making sure it is both reliable and secure.

[pawanjain]

I've finally persuaded wetsuit to take a serious look at LN. It came from a discussion we had recently about our dust problem (229 BTC that's too expensive to consolidate).

First, we'll add Lightning Network deposits and after that's been running for a while we'll start charging a very small fee for sub 30,000 deposits via the blockchain to pay for the consolidation.

Wow, now that's some good progress Freebitco.in is making. Also, how about adding internal transfers as well.
That way users who trust each other can deposit their tokens in a single transaction and then doing free internal transfer to themselves.
I don't know how it would benefit freebitco.in but it would certainly benefit it's users and eventually increase the userbase as well.

[Text]

It is already listed on decentralized exchanges.
https://coinmarketcap.com/currencies/funfair/markets/

The FunFair team has an official twitter (@funfairtech) and reddit (r/funfairtech).

Their ANN thread has also become active again since the Freebitco.in program was made public. https://bitcointalk.org/index.php?topic=1968383.0

They also have a LinkedIn account and chat group/community if you would like more details about them when participating in discussions.
Discord: https://discordapp.com/invite/rwETqSP
Telegram: https://t.me/FunFair_Official
LinkedIn: https://www.linkedin.com/company/funfair-technologies

[JohnBitCo]

I've finally persuaded wetsuit to take a serious look at LN. It came from a discussion we had recently about our dust problem (229 BTC that's too expensive to consolidate).

First, we'll add Lightning Network deposits and after that's been running for a while we'll start charging a very small fee for sub 30,000 deposits via the blockchain to pay for the consolidation.

Wow, now that's some good progress Freebitco.in is making. Also, how about adding internal transfers as well.
That way users who trust each other can deposit their tokens in a single transaction and then doing free internal transfer to themselves.
I don't know how it would benefit freebitco.in but it would certainly benefit it's users and eventually increase the userbase as well.

Internal transfer between the freebitco accounts will really help and in some cases may save transactions fee. If you have brothers, sisters or wife having freebitco account, then due to free internal transfer, they can move their earnings in one account and withdraw it once saving multiple tx fees. Lets hope this feature is built soon.

[TheQuin]

I've finally persuaded wetsuit to take a serious look at LN. It came from a discussion we had recently about our dust problem (229 BTC that's too expensive to consolidate).

First, we'll add Lightning Network deposits and after that's been running for a while we'll start charging a very small fee for sub 30,000 deposits via the blockchain to pay for the consolidation.

Wow, now that's some good progress Freebitco.in is making. Also, how about adding internal transfers as well.
That way users who trust each other can deposit their tokens in a single transaction and then doing free internal transfer to themselves.
I don't know how it would benefit freebitco.in but it would certainly benefit it's users and eventually increase the userbase as well.

Internal transfer between the freebitco accounts will really help and in some cases may save transactions fee. If you have brothers, sisters or wife having freebitco account, then due to free internal transfer, they can move their earnings in one account and withdraw it once saving multiple tx fees. Lets hope this feature is built soon.

We will not enable internal transfers because we can't prove we paid them. That's the great thing about the blockchain if there is a dispute between 2 users, one claiming the other one didn't pay them and the other blaming us I can show them the transaction ID.

[pawanjain]

I've finally persuaded wetsuit to take a serious look at LN. It came from a discussion we had recently about our dust problem (229 BTC that's too expensive to consolidate).

First, we'll add Lightning Network deposits and after that's been running for a while we'll start charging a very small fee for sub 30,000 deposits via the blockchain to pay for the consolidation.

Wow, now that's some good progress Freebitco.in is making. Also, how about adding internal transfers as well.
That way users who trust each other can deposit their tokens in a single transaction and then doing free internal transfer to themselves.
I don't know how it would benefit freebitco.in but it would certainly benefit it's users and eventually increase the userbase as well.

Internal transfer between the freebitco accounts will really help and in some cases may save transactions fee. If you have brothers, sisters or wife having freebitco account, then due to free internal transfer, they can move their earnings in one account and withdraw it once saving multiple tx fees. Lets hope this feature is built soon.

We will not enable internal transfers because we can't prove we paid them. That's the great thing about the blockchain if there is a dispute between 2 users, one claiming the other one didn't pay them and the other blaming us I can show them the transaction ID.

Well implementing internal transfers is completely up to you. You are running freebitco.in since many years and hence you will be the better judge here.
But I would like to ask that even if users do internal transfers you guys will be able to track them internally through your database right ?
Internal transfers doesn't really have to go through the blockchain. It can simply be implemented just on the database level and tracking each transfer with a consequent transaction id.

[JohnBitCo]

I've finally persuaded wetsuit to take a serious look at LN. It came from a discussion we had recently about our dust problem (229 BTC that's too expensive to consolidate).

First, we'll add Lightning Network deposits and after that's been running for a while we'll start charging a very small fee for sub 30,000 deposits via the blockchain to pay for the consolidation.

Wow, now that's some good progress Freebitco.in is making. Also, how about adding internal transfers as well.
That way users who trust each other can deposit their tokens in a single transaction and then doing free internal transfer to themselves.
I don't know how it would benefit freebitco.in but it would certainly benefit it's users and eventually increase the userbase as well.

Internal transfer between the freebitco accounts will really help and in some cases may save transactions fee. If you have brothers, sisters or wife having freebitco account, then due to free internal transfer, they can move their earnings in one account and withdraw it once saving multiple tx fees. Lets hope this feature is built soon.

We will not enable internal transfers because we can't prove we paid them. That's the great thing about the blockchain if there is a dispute between 2 users, one claiming the other one didn't pay them and the other blaming us I can show them the transaction ID.

Well implementing internal transfers is completely up to you. You are running freebitco.in since many years and hence you will be the better judge here.
But I would like to ask that even if users do internal transfers you guys will be able to track them internally through your database right ?
Internal transfers doesn't really have to go through the blockchain. It can simply be implemented just on the database level and tracking each transfer with a consequent transaction id.

Yes, this feature could be an addon and helpful as i told above too. Consider coinbase also allow to transfer the coins from one account to another free of cost using internal transfer function.
I don't think there will be any dispute unless there is any flaw in transferring the coins.

[Kakmakr]

Everyone is talking about this "Wheel of Fortune" thing, but I do not have this option? Is this only through a link send to people via email or is this somewhere on the site and I am not seeing it?

I have cleared my browser history, thinking it is a cache issue ..but still nothing? Well, if someone can make me a screenshot of this feature and where you access it, it will be appreciated a lot. 

[FIFA worldcup]

Everyone is talking about this "Wheel of Fortune" thing, but I do not have this option? Is this only through a link send to people via email or is this somewhere on the site and I am not seeing it?

I have cleared my browser history, thinking it is a cache issue ..but still nothing? Well, if someone can make me a screenshot of this feature and where you access it, it will be appreciated a lot.  

You will daily get an email about this wheel of fortune. From there you will have a link where you can try your luck and win something big.
I mostly win Reward Points + lottery tickets and did not win something which can be of big value. But you can try your luck.  

[NABiT]

Everyone is talking about this "Wheel of Fortune" thing, but I do not have this option? Is this only through a link send to people via email or is this somewhere on the site and I am not seeing it?

I have cleared my browser history, thinking it is a cache issue ..but still nothing? Well, if someone can make me a screenshot of this feature and where you access it, it will be appreciated a lot. 

"The Wheel of Fortune is EMAIL EXCLUSIVE; keep an eye on your email inbox for promotional emails from FreeBitco.in. If you aren't subscribed, here's what you do:"

https://bitcointalk.org/index.php?topic=320959.msg56227948#msg56227948

[Twinkledoe]

Everyone is talking about this "Wheel of Fortune" thing, but I do not have this option? Is this only through a link send to people via email or is this somewhere on the site and I am not seeing it?

I have cleared my browser history, thinking it is a cache issue ..but still nothing? Well, if someone can make me a screenshot of this feature and where you access it, it will be appreciated a lot.  

You will daily get an email about this wheel of fortune. From there you will have a link where you can try your luck and win something big.
I mostly win Reward Points + lottery tickets and did not win something which can be of big value. But you can try your luck.  

But he needs to sign up first for email subscription, before he can receive the daily free wheel of fortune spin. If he sees the "subscribe now" button under the wheel of fortune ad, he can hit it and use the email ad that you are using in your freebitco account.

Something like this - https://freebitco.in/static/html/wof/wheel-of-fortune.html

edit : NABiT also provided the post from freebitco staff about the steps.

[slaman29]

Great plan for Lightning Network and I think the idea to charge a deposit fee for dust deposits should definitely go ahead. Most exchanges anyway have two conditions for small deposits: less than a certain amount and you won't get credited. Less than a second small certain amount and you get charged a fee (for consolidation).

I guess it will be strange to consider anything less than 10000 satoshi as dust now that it's $4 but that's the price of high-value Bitcoin!

[Poker Player]

But he needs to sign up first for email subscription, before he can receive the daily free wheel of fortune spin. If he sees the "subscribe now" button under the wheel of fortune ad, he can hit it and use the email ad that you are using in your freebitco account.

Something like this - https://freebitco.in/static/html/wof/wheel-of-fortune.html

edit : NABiT also provided the post from freebitco staff about the steps.

As far as I know, I did not subscribe, and I receive the emails. Unless I did it without realizing it. But if we're talking about typing my email address somewhere on the site to receive them, I'm sure I didn't do it.

[NABiT]

But he needs to sign up first for email subscription, before he can receive the daily free wheel of fortune spin. If he sees the "subscribe now" button under the wheel of fortune ad, he can hit it and use the email ad that you are using in your freebitco account.

Something like this - https://freebitco.in/static/html/wof/wheel-of-fortune.html

edit : NABiT also provided the post from freebitco staff about the steps.

As far as I know, I did not subscribe, and I receive the emails. Unless I did it without realizing it. But if we're talking about typing my email address somewhere on the site to receive them, I'm sure I didn't do it.

Me neither but I'm thinking maybe some people may not have "Promotional Emails" selected under More > Profile > E-Mail Subscriptions.

[Bushido1]

Let me get it straight - in order to earn 29.04% interest, I must buy 500000 FUN tokens for about €14000, then hold decent amount of BTC in order to get decent interest %? Interest is paid in BTC, not in FUN?
That sounds much bigger cost than €14000...

[soslex]

Let me get it straight - in order to earn 29.04% interest, I must buy 500000 FUN tokens for about €14000, then hold decent amount of BTC in order to get decent interest %? Interest is paid in BTC, not in FUN?
That sounds much bigger cost than €14000...

You don't get 29.04% interest. That would be insane. After holding 500K FUN for a year, You get an additional 25% interest on the base interest rate of 4.08%. So it's 5.10% interest. Yes, the interest is paid in bitcoin. If you don't think it's worth it, nobody is forcing you to buy it.

[arallmuus]

But if we're talking about typing my email address somewhere on the site to receive them, I'm sure I didn't do it.

Me neither but I'm thinking maybe some people may not have "Promotional Emails" selected under More > Profile > E-Mail Subscriptions.

It is the email address that you guys used to register on the site.

Let me get it straight - in order to earn 29.04% interest, I must buy 500000 FUN tokens for about €14000, then hold decent amount of BTC in order to get decent interest %? Interest is paid in BTC, not in FUN?
That sounds much bigger cost than €14000...

The 4.08% is the annual interest rate which is for a year. The 25% increased interest rate means 25% more than the normal rate so it breaks down to an extra 1% ~ to the annual interest rate . Unless you hold a decent amount of bitcoin on freebitco.in, it wont make that much different.

You don't get 29.04% interest. That would be insane. After holding 500K FUN for a year, You get an additional 25% interest on the base interest rate of 4.08%. So it's 5.10% interest. Yes, the interest is paid in bitcoin. If you don't think it's worth it, nobody is forcing you to buy it.

Yep this, I was typing this after you posted lol and note that it is annual interest rate

[shield132]

. The begining was the time when this coin should increase, even a little bit in value but it hugely lost value today.

FUN Token is not a new token and it was launched in 2017 so there are already several bag holder for this token even before freebitco.in started to integrate with FUN. Some of those previous bag holder will be selling their stash after the price increase because of the hype so its kinda normal though. Although btc price increase play a major role on this but I'd say some people are probably selling their stash

Its over 200% price increase for FUN in the last 30 days so yeah

Thank you, I didn't really didn't know that. Now I understand everything, seems I didn't read the news carefully on freebitco. That's why there was a massive rise in price since freebitco announced that but at the same time I didn't thought that the price of the coin would fall because of aggressive marketing from freebitco's side. But seems old holders used this chance and just get rid of fun tokens in high price. I think that we will see another rise in march when the premium program goes live.
Also, seems bitcoin's price is a little bit moving down, I hope people will move from BTC to FUN at some point and we will see rise of it.