FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest

[Chris314]

What if they split the amounts over several different accounts? What is the difference between you paying out 40 BTC for one

account and paying it out for 1000 accounts? There are many old timers with a lot of coins, but I figure they will have better

methods to increase those coins, than dumping it on a site with a 4% interest rate.  Roll Eyes  That said, people do the strangest

things when it comes to money. (Greed clouds people's judgement)

Those 4% interest rate are secure however, you don't have to trade or bet any coin to get your interests every day. It's by far more interesting than bank accounts (at least in my country) that offer 1% per year with limited amount.

There is ZERO security with freebitco.  If you dump your BTC there,  you are LESS secure than storing your USD at a bank because there is NO insurance coverage.  Period.  A bank is less likely to just up and walk away with your USD for no reason at all than freebitco is to just up and walk away.  Why?  Because there are no consequences.  Wetsuit could take all your shit today and there isnt a damn thing you could do about it.  Thats not security.  Thats gambling.  And you didnt even have to roll any virtual dice to do it.  All you had to do was make a BTC transaction.

"Secure" wasn't the best word to describe my idea. Of course freebitco.in doesn't have any guarantee about the money you give them (I'm not sure whether a bank has more security - if they're broken, they won't give your money back as well - but that's not the debate).
Question is, with a certain amount of btc you can play with (i.e. afford to lose), which is the best way to make them grow? A fixed interest rate, like freebitco.in offers, or trading/betting? There's less risk losing your money with the interest than with trading/gambling (excluding the risk that the website runs away with the money, risk shared with trading platforms and betting sites).

[1713911795]

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[broke_tradah]

What if they split the amounts over several different accounts? What is the difference between you paying out 40 BTC for one

account and paying it out for 1000 accounts? There are many old timers with a lot of coins, but I figure they will have better

methods to increase those coins, than dumping it on a site with a 4% interest rate.  Roll Eyes  That said, people do the strangest

things when it comes to money. (Greed clouds people's judgement)

Those 4% interest rate are secure however, you don't have to trade or bet any coin to get your interests every day. It's by far more interesting than bank accounts (at least in my country) that offer 1% per year with limited amount.

There is ZERO security with freebitco.  If you dump your BTC there,  you are LESS secure than storing your USD at a bank because there is NO insurance coverage.  Period.  A bank is less likely to just up and walk away with your USD for no reason at all than freebitco is to just up and walk away.  Why?  Because there are no consequences.  Wetsuit could take all your shit today and there isnt a damn thing you could do about it.  Thats not security.  Thats gambling.  And you didnt even have to roll any virtual dice to do it.  All you had to do was make a BTC transaction.

"Secure" wasn't the best word to describe my idea. Of course freebitco.in doesn't have any guarantee about the money you give them (I'm not sure whether a bank has more security - if they're broken, they won't give your money back as well - but that's not the debate).
Question is, with a certain amount of btc you can play with (i.e. afford to lose), which is the best way to make them grow? A fixed interest rate, like freebitco.in offers, or trading/betting? There's less risk losing your money with the interest than with trading/gambling (excluding the risk that the website runs away with the money, risk shared with trading platforms and betting sites).

Neither.  Those that make money dont trade and they dont gamble.  Instead they take other people's money.  So if you want to make anything with the least amount of risk,  do exactly what Wetsuit is doing and convince others to send you their BTC free of charge.  The old saying of "Money flows from the stupid to the smart" definitely applies to your question and it's clear which group you belong to.

[Chris314]

Neither.  Those that make money dont trade and they dont gamble.  Instead they take other people's money.  So if you want to make anything with the least amount of risk,  do exactly what Wetsuit is doing and convince others to send you their BTC free of charge.  The old saying of "Money flows from the stupid to the smart" definitely applies to your question and it's clear which group you belong to.

You're right. However the last part of your sentence wasn't necessary. I clearly understand now why people is ignoring you and I will do the same from now.

[jackg]

Neither.  Those that make money dont trade and they dont gamble.  Instead they take other people's money.  So if you want to make anything with the least amount of risk,  do exactly what Wetsuit is doing and convince others to send you their BTC free of charge.  The old saying of "Money flows from the stupid to the smart" definitely applies to your question and it's clear which group you belong to.

You're right. However the last part of your sentence wasn't necessary. I clearly understand now why people is ignoring you and I will do the same from now.

@Broken, a few pages ago you were literally saying that you were stupid enough not to be able to fight a legal battle in case anyone searches into where your incomre from referrals go. You were then stupid to just clearly not care about it and went back to niavely sharing that same referral link.

@Chris, some governments have schemes to pay your back what you're owed from the bank should the bank go bust, also, where are you from 1% is really low? Ours offers 3% and I did the maths and worked out that if I leave my money in my account, due to inflation, it actually reduces more in value per year than it gains in interest !

[Chris314]

@Chris, some governments have schemes to pay your back what you're owed from the bank should the bank go bust, also, where are you from 1% is really low? Ours offers 3% and I did the maths and worked out that if I leave my money in my account, due to inflation, it actually reduces more in value per year than it gains in interest !

Yes, some accounts have 3% interest, but we have to pay taxes on interests earned. The 1% account is tax free and more widely used.

[TheQuin]

where are you from 1% is really low?

That's the crux of the matter. You also need to factor in the currency risk which drives inflation. It is easy to find a country paying 10% but if you converted USD then you would find that countries currency had devalued by more than 10% in a year. So you can't really make a direct comparison of 4% on BTC against an interest rate on another currency.

[STT]

^^ This whole point underlines a large part of why is crypto used.    Without our strange global central bank system fixing rates so low when really the natural layout would have most western world rates at about 5%, crypto would be far less popular otherwise and people would just leave cash in the bank.  
As it is its quite certain people will lose money to inflation even after interest rates, its true in USA, EU, UK and certainly I think Japanese YEN has horrible problems with its currency value longer term.  Of course over night they might beat crypto for some stability but otherwise they are doomed to lose value until each government can repay debts properly, unwind QE programs and put interest rates above inflation.    I forget the figure but USA pays billions more in debt interest on their 21 trillion owed every time rates go up, so you know the people who hold dollar are the weakest link, will lose money out their pocket just sitting there over years.
  
Sorry for the long take but thats why crypto is used more, thats why some really dont mind some holding.  Obviously is not good to hold all in crypto but imo thats why the price for BTC has been buoyant this last couple years even with the fall (its a global effect).  In places like Vietnam or a few mentioned in news as failing economies, crypto makes even more sense and that 4% is great I think for them.    

[jackg]

^^ This whole point underlines a large part of why is crypto used.    Without our strange global central bank system fixing rates so low when really the natural layout would have most western world rates at about 5%, crypto would be far less popular otherwise and people would just leave cash in the bank.  
As it is its quite certain people will lose money to inflation even after interest rates, its true in USA, EU, UK and certainly I think Japanese YEN has horrible problems with its currency value longer term.  Of course over night they might beat crypto for some stability but otherwise they are doomed to lose value until each government can repay debts properly, unwind QE programs and put interest rates above inflation.    I forget the figure but USA pays billions more in debt interest on their 21 trillion owed every time rates go up, so you know the people who hold dollar are the weakest link, will lose money out their pocket just sitting there over years.
  

The issue I and probably quite a few others have with investing here though is that it's not multisigged or anything.
Wetsuit has contorl over several hundred btc in user balances and (according to the website) he's sotring it in one trezor.... I wouldn't say that was a particularly safew way to go if you ask me.

[joksim299]

Expected loss is enormous in the wagering competition!

[TheQuin]

Expected loss is enormous in the wagering competition!

Looking at expected value misses the whole point of gambling. Some people win, some people lose, and the expected value is just what the average should statistically work out at.

[Kakmakr]

^^ This whole point underlines a large part of why is crypto used.    Without our strange global central bank system fixing rates so low when really the natural layout would have most western world rates at about 5%, crypto would be far less popular otherwise and people would just leave cash in the bank.  
As it is its quite certain people will lose money to inflation even after interest rates, its true in USA, EU, UK and certainly I think Japanese YEN has horrible problems with its currency value longer term.  Of course over night they might beat crypto for some stability but otherwise they are doomed to lose value until each government can repay debts properly, unwind QE programs and put interest rates above inflation.    I forget the figure but USA pays billions more in debt interest on their 21 trillion owed every time rates go up, so you know the people who hold dollar are the weakest link, will lose money out their pocket just sitting there over years.
  

The issue I and probably quite a few others have with investing here though is that it's not multisigged or anything.
Wetsuit has contorl over several hundred btc in user balances and (according to the website) he's sotring it in one trezor.... I wouldn't say that was a particularly safew way to go if you ask me.

I seriously doubt that Wetsuit would divulge the full extent of his cold storage solution, but a hardware wallet like Trezor is definitely one of the best solutions out there, because he wants easy access to the coins. Each of these hardware devices are backed with a Seed to recover the wallet, in the event that something goes wrong. <So I presume that he has backup devices>

What other cold storage would you suggest for a operation like this? <Multiple hardware wallets?>

[Mirae]

this site is still alive ? holy moly

[broke_tradah]

I seriously doubt that Wetsuit would divulge the full extent of his cold storage solution, but a hardware wallet like Trezor is definitely one of the best solutions out there, because he wants easy access to the coins. Each of these hardware devices are backed with a Seed to recover the wallet, in the event that something goes wrong. <So I presume that he has backup devices>

What other cold storage would you suggest for a operation like this? <Multiple hardware wallets?>

Neither.  Multi-sig wallets are the only option.  There is no need for cold storage at all in that scenario.  But security isnt what wetsuit cares about anyway.  All he cares about is that you continue to dump BTC to his addresses.  Thats it.  Nothing more.

this site is still alive ? holy moly

No not really,  but the owners would like you to think that way.  It's only a few idiots dumping BTC into it atm.  Thus thats why there are such ludicrous contests going on atm to attract new income.

[TheQuin]

^^ This whole point underlines a large part of why is crypto used.    Without our strange global central bank system fixing rates so low when really the natural layout would have most western world rates at about 5%, crypto would be far less popular otherwise and people would just leave cash in the bank.  
As it is its quite certain people will lose money to inflation even after interest rates, its true in USA, EU, UK and certainly I think Japanese YEN has horrible problems with its currency value longer term.  Of course over night they might beat crypto for some stability but otherwise they are doomed to lose value until each government can repay debts properly, unwind QE programs and put interest rates above inflation.    I forget the figure but USA pays billions more in debt interest on their 21 trillion owed every time rates go up, so you know the people who hold dollar are the weakest link, will lose money out their pocket just sitting there over years.
  

The issue I and probably quite a few others have with investing here though is that it's not multisigged or anything.
Wetsuit has contorl over several hundred btc in user balances and (according to the website) he's sotring it in one trezor.... I wouldn't say that was a particularly safew way to go if you ask me.

I seriously doubt that Wetsuit would divulge the full extent of his cold storage solution, but a hardware wallet like Trezor is definitely one of the best solutions out there, because he wants easy access to the coins. Each of these hardware devices are backed with a Seed to recover the wallet, in the event that something goes wrong. <So I presume that he has backup devices>

What other cold storage would you suggest for a operation like this? <Multiple hardware wallets?>

The Trezor has been replaced with a Ledger and as stated on the site that is in addition to encrypted paper wallets. A multisig solution is not any more secure if there is only one owner of the business.

Many people do trust us with large deposits, currently over 1400 BTC. You can do some simple blockchain analysis from our deposit address https://btc.com/1Fu3iBR2EMQWeYGi3XvrPmcPUkne8ZWj9h to see how active it is.

[Kakmakr]

^^ This whole point underlines a large part of why is crypto used.    Without our strange global central bank system fixing rates so low when really the natural layout would have most western world rates at about 5%, crypto would be far less popular otherwise and people would just leave cash in the bank.  
As it is its quite certain people will lose money to inflation even after interest rates, its true in USA, EU, UK and certainly I think Japanese YEN has horrible problems with its currency value longer term.  Of course over night they might beat crypto for some stability but otherwise they are doomed to lose value until each government can repay debts properly, unwind QE programs and put interest rates above inflation.    I forget the figure but USA pays billions more in debt interest on their 21 trillion owed every time rates go up, so you know the people who hold dollar are the weakest link, will lose money out their pocket just sitting there over years.
  

The issue I and probably quite a few others have with investing here though is that it's not multisigged or anything.
Wetsuit has contorl over several hundred btc in user balances and (according to the website) he's sotring it in one trezor.... I wouldn't say that was a particularly safew way to go if you ask me.

I seriously doubt that Wetsuit would divulge the full extent of his cold storage solution, but a hardware wallet like Trezor is definitely one of the best solutions out there, because he wants easy access to the coins. Each of these hardware devices are backed with a Seed to recover the wallet, in the event that something goes wrong. <So I presume that he has backup devices>

What other cold storage would you suggest for a operation like this? <Multiple hardware wallets?>

The Trezor has been replaced with a Ledger and as stated on the site that is in addition to encrypted paper wallets. A multisig solution is not any more secure if there is only one owner of the business.

Many people do trust us with large deposits, currently over 1400 BTC. You can do some simple blockchain analysis from our deposit address https://btc.com/1Fu3iBR2EMQWeYGi3XvrPmcPUkne8ZWj9h to see how active it is.

Multisig is also impractical if you are more than one business owner, because both parties are constantly needed to do tx's and we know this is not the ideal scenario. People get sick or they go on leave or they are busy with many other projects and this restricts the daily operation.

Also, what happens if one of the partners suddenly dies?

Nah, I still think the hardware wallet is more flexible and more practical in this kind of scenario and the backup paper wallets is the best way to secure the deposits. 

[jackg]

The Trezor has been replaced with a Ledger and as stated on the site that is in addition to encrypted paper wallets. A multisig solution is not any more secure if there is only one owner of the business.

Many people do trust us with large deposits, currently over 1400 BTC. You can do some simple blockchain analysis from our deposit address https://btc.com/1Fu3iBR2EMQWeYGi3XvrPmcPUkne8ZWj9h to see how active it is.

Multisig is also impractical if you are more than one business owner, because both parties are constantly needed to do tx's and we know this is not the ideal scenario. People get sick or they go on leave or they are busy with many other projects and this restricts the daily operation.

Also, what happens if one of the partners suddenly dies?

Nah, I still think the hardware wallet is more flexible and more practical in this kind of scenario and the backup paper wallets is the best way to secure the deposits. 

You're supporting me without knowing it now. A 2 of 3 multisig is a perfect solution and that is, indeed, for if someone dies... If wetsuit's dead what are you going to do if you have money on there?
So with a 2 of 3 multisig you only need to cosigners so you dhouldn't keep having to interrrupt one of them...
And @thequin, that address dowsn't seem to have too many large depositors, the most I saw was about 0.21BTC. There's a difference between being trusted to store someone's balance and being trusted to store someone's change....

[TheQuin]

And @thequin, that address dowsn't seem to have too many large depositors, the most I saw was about 0.21BTC. There's a difference between being trusted to store someone's balance and being trusted to store someone's change....

This tx https://btc.com/b3a315142733b3c4aa52a84a2f63b1bc9474d161161850d5e4004d43be5db3b8 from only 5 days ago is someone depositing 137.57465000 BTC and it automatically getting put into cold storage.

[jackg]

And @thequin, that address dowsn't seem to have too many large depositors, the most I saw was about 0.21BTC. There's a difference between being trusted to store someone's balance and being trusted to store someone's change....

This tx https://btc.com/b3a315142733b3c4aa52a84a2f63b1bc9474d161161850d5e4004d43be5db3b8 from only 5 days ago is someone depositing 137.57465000 BTC and it automatically getting put into cold storage.

I mean it'll get good interest, however that is probably someone with a lot more money than sense... Unless it's a start of a larger portfolio they have of investments of course if they were mining quite early on...

[TheQuin]

I mean it'll get good interest, however that is probably someone with a lot more money than sense... Unless it's a start of a larger portfolio they have of investments of course if they were mining quite early on...

They contacted me to ask if it was OK to deposit such amounts for the interest and explained their reasons. I'll respect their privacy and just say that they have money because they have sense.

[Thirdspace]

This tx https://btc.com/b3a315142733b3c4aa52a84a2f63b1bc9474d161161850d5e4004d43be5db3b8 from only 5 days ago is someone depositing 137.57465000 BTC and it automatically getting put into cold storage.

They contacted me to ask if it was OK to deposit such amounts for the interest and explained their reasons. I'll respect their privacy and just say that they have money because they have sense.

why they contacted you to ask such question if that wasn't their first deposit?
am I correct to say that... because I see 136.93473000 BTC deposited to that address 2 weeks earlier
if they didn't withdraw the first then total for 274 BTC worth ~$1.8M close to 0.03 BTC daily return