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Author Topic: Do any casinos offer cryptocurrency staking?  (Read 1542 times)
KTChampions
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August 22, 2021, 03:05:54 PM
 #161

Do you guys really trust Freebitco.in? What if they run away with all these coins? I don't understand how their business can be viable. With fiat currencies, it is possible to get an interest, because they are not protected against inflation. The purchasing power goes down every year, and the interest payment is like a compensation for this decrease in purchasing power. But this logic is not applicable for cryptocurrencies that are protected against inflation. So how can they pay this 4% interest and still return a profit? I understand that Freebitco.in has remained in business for so many years.. but what is the guarantee that they are not just another Ponzi?

They earn on the fact that having cryptocurrency in their account, they can allow increasing the maximum bets in games. Taking into account the fact that the casino always wins at a distance, this guarantees an increased profit and allows them to pay a percentage to those who are ready to place their cryptocurrency with them.

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ethereumhunter
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August 23, 2021, 01:07:24 AM
 #162

~

The sats you are going to get from the faucet became too low like 4-5 sats.  If you click 24 times a day and collect 5 sats, it would take 250 days to reach 30k sats. Since you can't do that, you can double that time and it will become 500 days. Since you are no bot and you'll miss your clicks every now and then, in practice, the reasonable time frame to collect 30k sats from the faucet is like 1000+ days. Means 3+ years.

Sounds like too much work to get 15 bucks man. Getting a day job is probably a wiser idea but don't ask me I'm no math genius.
Fortunately, I have some balance on my account that I collected a long time ago, so I am okay if I miss clicks every hour because that still earns some rewards. Yes, the rewards are not much but never mind because that is a free reward for me while waiting for the bitcoin price to rise. Once that time comes, I hope to cash out the sats and sell them at the exchange in the future.

Maybe that is not worth it for you but if we can earn more sats, I think that will be worth it in the future because we believe that bitcoin price will be at the highest price. After all, it is gambling that I can afford.

~

Do you guys really trust Freebitco.in? What if they run away with all these coins? I don't understand how their business can be viable. With fiat currencies, it is possible to get an interest, because they are not protected against inflation. The purchasing power goes down every year, and the interest payment is like a compensation for this decrease in purchasing power. But this logic is not applicable for cryptocurrencies that are protected against inflation. So how can they pay this 4% interest and still return a profit? I understand that Freebitco.in has remained in business for so many years.. but what is the guarantee that they are not just another Ponzi?
Yes, I still believe Freebitco.in. If the site runs away with all of these coins, I can accept that and consider that it is not my profit and I believe that my profits await me in other ways. I just only try, set and let it happen. The result will not be a problem for me.

With their reputation, I believe they will not scamming their members, especially their loyal members. After all, they have ANN here so we can contact them if we have a problem and I am sure they can solve it right away.

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Lucasgabd
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August 23, 2021, 11:37:16 AM
 #163

I wonder why we don't see more of these smaller exchanges offering casino games too, could be something to add to their model
kucoin has something like that if I'm not wrong
do you know if this is correct?
some kind of betting and games part

and the closes we have are prediction markets on FTX but totally different thing
Have you checked the exchange crex24? They have games like dice, slots, bitcoin of fortune and others. They don't have not so good reputation from the forum but for all the years that I have used this exchange, just smaller trades, I haven't encountered any trouble. So I can't say anything bad to them. They also have investbox where you can stake different alts.
That's quite a news. I have used crex24 myself in the past bur from whatever faded memories I have about it, I remember it was a decent exchange but there was no gambling available that time.

I have almost stopped using exchanges after the recent KYC pressure from almost all the exchanges. I am not sure if they allow the staking of coins but it is just too risky to stake your coins at a centralized exchange. It's actually not even safe now days to leave your coins at centralized exchanges because half of them might close by the next time you visit them and half of them will ask for your selfie and other photoshoots.

I agree that the risk of keeping coins on a CEX has gone up lately with all the regulatory pressure
there are many opportunities with DeFi going on and you can probably get a better rate somewhere else anyways, CEX usually don't have the best rates on the market

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