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[slaman29]

Bottom line : Dont risk your 1 btc into a site to get 11,000 satoshi daily. This is not a bank, keep only what you can afford to lose on the site. Things can always go south

I would add also that keeping bitcoin there is a really bad idea if you're a gambler with very weak self control. 1 BTC to earn almost 11k daily is a really attractive proposition but for a gambler like me, the temptation to try and gamble that is too strong. I'll think, for example, ah I can do autobet on 1 satoshi for 10 million rounds. It's very safe with a big balance. Then boom variance and it's all gone.

[BitSat19]

Bottom line : Dont risk your 1 btc into a site to get 11,000 satoshi daily. This is not a bank, keep only what you can afford to lose on the site. Things can always go south

I would add also that keeping bitcoin there is a really bad idea if you're a gambler with very weak self control. 1 BTC to earn almost 11k daily is a really attractive proposition but for a gambler like me, the temptation to try and gamble that is too strong. I'll think, for example, ah I can do autobet on 1 satoshi for 10 million rounds. It's very safe with a big balance. Then boom variance and it's all gone.

This happen with me many times so now I am not keeping any funds on gambling site just few minutes ago I lost some good amount as I was only betting on soccer but suddenly play dice and all gone.

[Kakmakr]

Yes, there is definitely a trend where some people deposit a large amount of coin and then they wait for the 4%+ interest every day to gamble with the sites money and not their own.

Huh? The 4% interest is actually annually. Once a year  

If you have enough bitcoins to deposit on Freebitco.in, you can gamble for FREE on the daily interest.  

For 1 btc deposit onto the site, you are getting around 0.011% daily so around 11,000 satoshi interest daily. So is this a good amount daily to gamble for FREE ? Depends.

If you are a small time gambler, this should be sufficient for quench your thirst to roll some dust bet but if you own 1 btc or even larger amount then this might not be as good as it sounds .

Bottom line : Dont risk your 1 btc into a site to get 11,000 satoshi daily. This is not a bank, keep only what you can afford to lose on the site. Things can always go south

Daily interest will be calculated at a random time everyday @ 0.0109589% per day and rounded down to the nearest satoshi.

Yea, there are risk and also reward. You can decide what you want to do with your BTC. I bought a few bitcoins when the price was $300+ back in the day, so I am playing around with some of those on sites like this. No use having them all in cold storage and not doing anything with them and just waiting for the price to rise.

Also... you do not have to gamble every day.. if you gamble like I do, then you will skip a few days and use the accumulated amount over the weekend for instance. You would not have touched your own coins and you have a opportunity to increase it. 

There are no guarantees in life, but not risking anything will never bring any huge rewards. My motto : It is better to burn out, than to fade away. 

[arwin100]

Yes, there is definitely a trend where some people deposit a large amount of coin and then they wait for the 4%+ interest every day to gamble with the sites money and not their own.

Huh? The 4% interest is actually annually. Once a year  

If you have enough bitcoins to deposit on Freebitco.in, you can gamble for FREE on the daily interest.  

For 1 btc deposit onto the site, you are getting around 0.011% daily so around 11,000 satoshi interest daily. So is this a good amount daily to gamble for FREE ? Depends.

If you are a small time gambler, this should be sufficient for quench your thirst to roll some dust bet but if you own 1 btc or even larger amount then this might not be as good as it sounds .

Bottom line : Dont risk your 1 btc into a site to get 11,000 satoshi daily. This is not a bank, keep only what you can afford to lose on the site. Things can always go south

Daily interest will be calculated at a random time everyday @ 0.0109589% per day and rounded down to the nearest satoshi.

There are no guarantees in life, but not risking anything will never bring any huge rewards. My motto : It is better to burn out, than to fade away. 

That's why I always confuse to those people who always give guarantee on everything since for sure they will give you an unrealistic results and if we will get caught we will end  up crying and wandering on why we lose our money for that schemes. But we should not put a negative thinking and just stay away on all possibilities since if we just believe on our self and risk on our skills for sure in on day we can see a better results in either gambling or other things.

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[arallmuus]

-snipped-

Yea, there are risk and also reward. You can decide what you want to do with your BTC. I bought a few bitcoins when the price was $300+ back in the day, so I am playing around with some of those on sites like this. No use having them all in cold storage and not doing anything with them and just waiting for the price to rise.

Also... you do not have to gamble every day.. if you gamble like I do, then you will skip a few days and use the accumulated amount over the weekend for instance. You would not have touched your own coins and you have a opportunity to increase it. 

There are no guarantees in life, but not risking anything will never bring any huge rewards. My motto : It is better to burn out, than to fade away. 

If you want to risk your BTC then go ahead and risk it, I dont tell you to keep your bitcoin in cold storage as I said only deposit what you can afford to lose. It seems you dont really understand what Im trying to say.

If you deposit 1 BTC into any site, that means you are risking those 1 btc. It is fine if you want to risk 1 btc when you deposit into this site but from your previous statement shows that you deposit only to risk those free daily interest instead of your own deposit

If you have enough bitcoins to deposit on Freebitco.in, you can gamble for FREE on the daily interest. 

Things can always go south my friend only deposit what you can afford to lose

[babygun]

Yes, there is definitely a trend where some people deposit a large amount of coin and then they wait for the 4%+ interest every day to gamble with the sites money and not their own.

Huh? The 4% interest is actually annually. Once a year  

If you have enough bitcoins to deposit on Freebitco.in, you can gamble for FREE on the daily interest.  

For 1 btc deposit onto the site, you are getting around 0.011% daily so around 11,000 satoshi interest daily. So is this a good amount daily to gamble for FREE ? Depends.

If you are a small time gambler, this should be sufficient for quench your thirst to roll some dust bet but if you own 1 btc or even larger amount then this might not be as good as it sounds .

Bottom line : Dont risk your 1 btc into a site to get 11,000 satoshi daily. This is not a bank, keep only what you can afford to lose on the site. Things can always go south

Daily interest will be calculated at a random time everyday @ 0.0109589% per day and rounded down to the nearest satoshi.

Yea, there are risk and also reward. You can decide what you want to do with your BTC. I bought a few bitcoins when the price was $300+ back in the day, so I am playing around with some of those on sites like this. No use having them all in cold storage and not doing anything with them and just waiting for the price to rise.

Also... you do not have to gamble every day.. if you gamble like I do, then you will skip a few days and use the accumulated amount over the weekend for instance. You would not have touched your own coins and you have a opportunity to increase it. 

There are no guarantees in life, but not risking anything will never bring any huge rewards. My motto : It is better to burn out, than to fade away. 

Why don't you cash out already a couple of these bitcoins to use in real life? Do you have a plan at which prive level you will sell these?
I know it is fun and addictive to gamble, but you could loose all. Happened to me once, so now I only gamble with very very low amounts  .

[bitgolden]

In the past when I had a few referrals on another gambling site I noticed a trend. It was very easy getting referrals but rarely did anyone do a deposit. If they did a deposit it was  usually very small. Very rarely would i get people depositing over 1 BTC.

I noticed that some people made a deposit and almost didnt gamble anything while others made a deposit and lost it all. The revenue generated was small. I think I had one whale that lost 10 BTC and most of my affiliate income profits was from that one gambler right there.

Yes, there is definitely a trend where some people deposit a large amount of coin and then they wait for the 4%+ interest every day to gamble with the sites money and not their own. My deposit is not large enough to cover my gambling amount on the site, but it is helping to buy some lottery tickets and also to gamble a little bit more.

What other gambling site gives you interest on your deposits? (Some scam investment or Ponzi sites will promise you interest on your deposits, but those sites collapse within a few weeks or months)

If you have enough bitcoins to deposit on Freebitco.in, you can gamble for FREE on the daily interest.  

If they think that it is a free money they are getting with that 4% interest rate they are very wrong. I mean for them it is free of course (as is almost all interests you get) but freebitcoin is probably earning something with that too, I remember it was regarding mining if I am not wrong, but I could be wrong. Whatever they are doing, they are definitely using that money somehow to make more money.

Otherwise why would they ever give you interest while not earning anything at all, they must be earning something in order to give you that interest one way or another. However gambling income is still by far the biggest income they have (probably) look at all the amount that was wagered, considering the house edge is 5% they must be making a decent amount from there.

[hosseinimr93]

If they think that it is a free money they are getting with that 4% interest rate they are very wrong. I mean for them it is free of course (as is almost all interests you get) but freebitcoin is probably earning something with that too, I remember it was regarding mining if I am not wrong, but I could be wrong. Whatever they are doing, they are definitely using that money somehow to make more money.

Yes, Based on what is stated under "BITCOIN SAVINGS FAQ" in "Earn BTC" section of the website, a part of the money users deposit in Freebitco is used for mining.

How do you make money to pay us interest?

When you hold money in your FreeBitco.in account, we split it into 3 parts - the first part is used to cover user withdrawals, the second part is used to bankroll our MULTIPLY BTC game and the third part is used to expand our bitcoin mining operation (which is currently 9.065Petahashes or 0.008% of the total hashpower of the bitcoin network). We make a profit and assume the full risks of our businesses and in return for you saving your money with us, we give you a risk-free fixed rate of return.

[tbterryboy]

The site is provably fair, you can verify each bet if you think its a scam. There is a huge difference between saying this site a scam and saying this site has a high house edge

Having a higher house edge compared to most dice site isnt a scam. Sure that you will be losing alot more but its definitely not a scam and you still have a chance to win*

*P.S : Provided that you are really lucky

Could you elaborate please? How it can be a scam while being provably fair?  
If you're referring to the house edge, most of gambling games aren't free IRL. You must pay something to get the right to play or the game uses a house edge, then if you're lucky you'll win otherwise you'll lose your stake, that's it.

@arallmuus that’s an eagle eyed observation and his claims won’t work, because everyone who knows about Freebitco can swear that it’s a legit site. Furthermore I feel that he may have wagered on freebitco after ages, and he may have lost a good fortune out there, and hence he decided to come out here and rant like a upset gambler would do. Lastly in my personal opinion we should ignore his rantings unless he can back them up with proof, but I’m 100% sure he has no proof to back his false claims.

For sure he is disappointed for the result that he  takes nothing for the abused he do that's why he create a noise in this thread but apparently many  people knows on how good for now is this site so for proper validation on how they wreck about their claims maybe they need a strong support for  that matters  since many people will not  believe easily for just a single bad statement thrown unto this site

Also when you calculate everything that is given with the high house edge, the whole purpose of having high house edge shows why it is not actually that high. You are getting the free lottery tickets, you are getting the reward points, you are getting the lambo ticket as well, and also you are getting interest rate on the money you leave at the website as well.

Now combine all of this there is a chance you just lose all your money for a high house edge and leave that part is correct, but think about all the people who wagered but won the lottery, people who wagered and got the lambo, people who wagered but has enough reward points to claim a brand new iphone or whatever. So, yes the 5% house edge is too high and not needed for the people who lose, but to people who win its a marvel and a great blessing.

[beerlover]

The 4% interest is actually annually. Once a year  

By getting paid on daily basis, it is even higher actually because you get that interest per day and you keep it on your account and each day that 4% becomes bigger and bigger since your amount is bigger. That is real power of compound interest calculation. Today's interest just turns tomorrow as capital.

So, you do not have to wait, put up 100 bitcoins on your account and you will get a good amount of interest per day and you can gamble with them every day. That way you will both gamble and if you win you win money freely, if you lose you are not losing money that you worked for, just the interest and you still get side stuff with it.

[hosseinimr93]

By getting paid on daily basis, it is even higher actually because you get that interest per day and you keep it on your account and each day that 4% becomes bigger and bigger since your amount is bigger. That is real power of compound interest calculation. Today's interest just turns tomorrow as capital.

No, that's not how the daily interest rate has been calculated. The daily interest rate has been calculated in such a way that you get the claimed annual rate only if you hold all your daily interests.
According to the website, the annual interest rate and daily interest rate are 4.08% and 0.0109589% respectively.

Assuming you withdraw your daily interests, you will get 0.0109589*365 = 0.0399 = 3.99% annual interest. (Wrong)
Assuming you hold all your daily interests, you will get 1-(1.000109589)³⁶⁵ = 0.0408 = 4.08% annual interest. (True)

So, you will get 4.08% interest rate (the rate stated in the website) only if you don't withdraw your daily interests.

[arallmuus]

The 4% interest is actually annually. Once a year  

By getting paid on daily basis, it is even higher actually because you get that interest per day and you keep it on your account and each day that 4% becomes bigger and bigger since your amount is bigger. That is real power of compound interest calculation. Today's interest just turns tomorrow as capital.

Yes Im quite aware of what Im typing and it seems you are the one that doesnt understand what annual and daily interest means.

You can check this here https://compounddaily.org/calculator/ . It breaks down to 4~ % as stated on the site

So, you do not have to wait, put up 100 bitcoins on your account and you will get a good amount of interest per day and you can gamble with them every day

Yes, good amount that breaks up to 4+ bitcoin per year. Meanwhile Im risking my 100 bitcoin in an unanimous site only to get 4% annually . I should have just gamble my 100 btc a gambling site with 1.04 odds and gets my 4 btc instantly (?) . Yeah that sounds like a really good bad idea.

If I have 100 bitcoin in my possession right now, I would just keep it safe instead of depositing it for 365 days

According to the website, the annual interest rate and daily interest rate are 4.08% and 0.0109589% respectively.

Assuming you withdraw your daily interests, you will get 0.0109589*365 = 0.0399 = 3.99% annual interest. (Wrong)
Assuming you hold all your daily interests, you will get 1-(1.000109589)³⁶⁵ = 0.0408 = 4.08% annual interest. (True)

Thanks for this . It should really helps him understand about compound interest

[adaseb]

Yes people keep saying, I bought BTC cheap or got it free by mining and they consider it "free money" and basically risk it by gambling or trading and end up losing it. However its unrealized profits, until you sell the profits isn't there. Its a psycholigical thing, people basically got free BTC so they try and get more of it by gambling or trading, most end up losing it. Some are smart and withdraw some profits but most lose all of it.

Look what is going on with the stock market now. People making tons of money on Robinhood with their "free $1200 stimulus" checks. People basically buying anything because its "free money" and in the end they lose it due to risky gambles and trades. This is why people who worked minimum wage for their money make smarter decision than those who got it for free. So saying its "free money" isn't really true.

[UncleJAthletics]

I free spin, store a bit and occasionally bet the markets there. The edge on the multiply game is just too steep for me. I'm coming up on my 8,000th free spin and haven't hit the $200 yet lol.

[STT]

Thats alot of free bets, you won in general because it always pays and BTC rose over many years so some of your pay will look quite generous in the region of 10k BTC price now.   Its one of the few positives to a BTC crash, the pay goes up on this site at least      10,000 bets is the base line for a fair chance or someone said it must be 20,000 bets as its a fractional that requires rounding up therefore making the very top number harder then it appears.   I've won the lesser prizes a couple times hopefully not reducing my chance of the best one.

I'm surprised that Max Verstappen has such high odds to win the Austrian GP. Didn't expect this for someone who has won at the red bull ring the last 2 years. My money is on him all the way. Good for me

This site is more of a general public population is my take, theres going to be some good odds available because we dont know or watch every single race.    I used to watch F1 alot but miss the races quite often nowadays and its all been lockdown so maybe people forgot history or just doubted we get a reliable result.

If you have 100 BTC of capital, pay for your own house.  Take care of bills, diversify yourself so you arent just crypto.   I think thats fair strategy, nobody would really encourage to store it all in one place or even one sector of the economy.    I imagine anyone with that kind of capital has to take the trouble to go own the entire site somewhere else not just be as casual as the rest of us can be and grateful for the 4% that is no hassle.
  I had the chance to take up 100BTC way back but lacked the imagination to envision where crypto could travel despite expecting generational changes due to very long term macro economic progression I didnt expect crypto to enter into part of the carry trade globally.   The yield given might easily pay for itself because I definitely am massively more likely to bet more frequently while storing the value in one place and its more useful then often expensive exchanges.

[slaman29]

  I had the chance to take up 100BTC way back but lacked the imagination to envision where crypto could travel despite expecting generational changes due to very long term macro economic progression I didnt expect crypto to enter into part of the carry trade globally.   The yield given might easily pay for itself because I definitely am massively more likely to bet more frequently while storing the value in one place and its more useful then often expensive exchanges.

I never had the chance, and I heard about Bitcoin a few years ago, by then BTC was already on the way towards thousands of dollars but still, I'm very glad I didn't waste too much time in getting some for myself, even though the earnings in BTC was quite low by then. No regrets, my friend, just be glad you're here now.

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[Kakmakr]

Yes, there is definitely a trend where some people deposit a large amount of coin and then they wait for the 4%+ interest every day to gamble with the sites money and not their own.

Huh? The 4% interest is actually annually. Once a year  

If you have enough bitcoins to deposit on Freebitco.in, you can gamble for FREE on the daily interest.  

For 1 btc deposit onto the site, you are getting around 0.011% daily so around 11,000 satoshi interest daily. So is this a good amount daily to gamble for FREE ? Depends.

If you are a small time gambler, this should be sufficient for quench your thirst to roll some dust bet but if you own 1 btc or even larger amount then this might not be as good as it sounds .

Bottom line : Dont risk your 1 btc into a site to get 11,000 satoshi daily. This is not a bank, keep only what you can afford to lose on the site. Things can always go south

Daily interest will be calculated at a random time everyday @ 0.0109589% per day and rounded down to the nearest satoshi.

Yea, there are risk and also reward. You can decide what you want to do with your BTC. I bought a few bitcoins when the price was $300+ back in the day, so I am playing around with some of those on sites like this. No use having them all in cold storage and not doing anything with them and just waiting for the price to rise.

Also... you do not have to gamble every day.. if you gamble like I do, then you will skip a few days and use the accumulated amount over the weekend for instance. You would not have touched your own coins and you have a opportunity to increase it.  

There are no guarantees in life, but not risking anything will never bring any huge rewards. My motto : It is better to burn out, than to fade away.  

Why don't you cash out already a couple of these bitcoins to use in real life? Do you have a plan at which prive level you will sell these?
I know it is fun and addictive to gamble, but you could loose all. Happened to me once, so now I only gamble with very very low amounts  .

I already cashed out a few coins when the price was at a all-time-high ($18 000+) and made a very good profit on those coins. Any investment portfolio are divided into low/medium/high risk categories and you set aside a budget for each. This Freebitco.in deposit is part of my high risk portfolio ...so I made room for failure, if this site goes down with my deposit.

I do not have a set price target for selling coins.... I just wait for a price explosion and then I sell a few.. then I buy in low again. (normal trading practice)

Every person has their own strategy and risk management... so I am not saying my strategy will work for everyone. If you are scared of risk or if you cannot manage the risk... stay away from this strategy.