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

[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!

[Free Market Capitalist]

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.

[HeitorMessias]

I'm not an expert in mathematics, but the chances of winning the rolex is not 1 in 1 billion, the correct is 1 in 15, this is the logic of probability (if it is FAIR game). I have already ordered a study for a friend who knows how to perform this type of mathematical operation, so that I can come here to expose my doubt more clearly. I know that probability is not an exact science.

You don't have an equal chance of winning every prize. If that were the case we could all quit our jobs and just spin the WOF once a day every day until freebitco.in went bankrupt.

Since you have an equal chance of rolling each number (except 0 and 1,000,000,000, each of which is 0.5 times less likely than all other numbers to hit), You can calculate the odds of winning each prize from the table below.

I didn't really see this table, by the logic I thought it was a simulation of the real wheel of fortune, thank you very much for the information.

Today I won 5000 sat on the free spin, I'll buy FUN before the 15th for sure  

[jaysabi]

I looked at WOF spins primarily, as that's what I see as the biggest perk of the program. The extra interest doesn't amount to much by comparison.  Here's what I calculated:

At 5000 Fun tokens, the cost is currently 500k sats (it was more when I did my initial calcs too).  After a month you get 3 extra WOF spins and it scales up to 6 daily WOF spins after a year. For the sake of simplicity, I'm just going to calculate 6 extra WOF spins from the start.  WOF spins are generally worth 50 sats.  Either you get 50 sats or 50 rp which given enough time you can convert to 50 sats if you make it to 100k rp.  Sometimes you get more sats on a spin, but sometimes you get lottery tickets too which in all likelihood translate to 0.  So expecting 50 sats per spin is reasonable and I would say necessary when you're calculating time to recover investment.  

At 6 extra spins a day, you're looking at 300 sats as the extra perk.  On a 500k sat investment cost, that's 1667 days, or 4.56 years.  And that's only if FUN holds the value you bought it at.  Taken that as a given, it's not a compelling investment given the risks.  I think you can get more perks at much higher investment costs, but honestly, that's even more risky in my view, so I calculated on what seemed like a reasonable test tier.

Happy to hear any input on where you think I've made an error in logic or if I'm missing something about the program.

You are assuming that the odds of winning 5000 sats are 0% but it is above 1%. At 6 spins per day you should win 5000 sats more than 20 times in a year. That's 100k sats and 100k reward points in a year. There will also be smaller prizes that could give you another 100k sats and 100k reward points per year. Plus, you'd also be getting interest on sats you otherwise wouldn't have.

As I said, it was very rough math done quickly to get in the ballpark of what the return on investment is.  But let's correct a couple errors in your logic.  First, you're deducting sats from your account to buy FUN, so you're not making any extra interest until the purchase price of FUN has been fully recovered.  In fact, you're making less interest until that point, so that's an additional cost of FUN that has to be taken into account when calculating break even.  

Second, your expectation to win twenty 5k sat prizes on 1% probability in a year on 2190 spins is overblown.  You have to use a binomial probability equation to solve this.  Saving the hardcore math and just using a calculator for this, the odds of winning at least twenty 5k prizes in 2190 spins is only 68.7%.  Expecting 100k in earnings is not a safe assumption.




Under the best circumstances, the end result is still multi-year repayment period on an alt coin that will probably not hold its value it attains during this pump and which most people buy in at.

[RealMalatesta]

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.

I do agree that the future of bitcoin is definitely with LN because these huge insane transaction fee's can't keep up forever, the more people get into bitcoin, the more rich people there are in bitcoin as well, even if just 1 out of 1000 new people are rich, that still means thousands upon thousands of people come into bitcoin and that makes more rich people here who doesn't care about the transaction fees, so it keeps going up and up.

However I definitely 100% agree that it is not today, LN is great and it is the future of it but there is really a good amount of time we will need to be there, in order for freebitco.in to implement it and make it something viable, we need at least 25%+ of all bitcoin people to actually start using LN and we are not there yet, or at least have good amount of exchanges implement it first, until then it is just in theory.

[BrewMaster]

in order for freebitco.in to implement it and make it something viable, we need at least 25%+ of all bitcoin people to actually start using LN

this makes no sense. it is like saying in order for a gambling site to start we first need 25% of the whole world to start using bitcoin.
i get what TheQuin says, and it is a complicated thing to implement and extra precautions must be taken before the new feature is added but we already have exchanges like bifinex that have been running their LN node and accepting deposits and withdrawals for a long time. by the way the capacity doesn't have to be huge, it can be limited and also if there are concerns they could only allow the old users to use it not the new ones.