Topic: 🎲BetFury.io|💫 Stellar network & XLM 💫|📈BFG farming on BabySwap - page 170. (Read 82132 times)
July 05, 2022, 07:14:57 AM
Does BetFury plan to add new functions to BFG tokens ? 90% of all token supply is already mined. BetFury make regular monthly burns. BFG farming is closed. With such speed, next year it will be impossible to get new BFT tokens. So far main benefit of BFG is daily dividends. I see that daily amount distributed does not change much, so this does not really stimulate to have more tokens. And I wonder what will be when all BFG are mined, holding is unprofitable and token price does not change much.
July 04, 2022, 05:03:46 PM
The dividend you get is in 5 coins (BTC, ETH, USDT, TRX and BNB) and it is not because the market crashed, that you get more dividends. The amount you will get, is based on the amount BFG tokens you have and is not dependent on the crypto price.
You are both right and also a tiny bit wrong at the same time. The amount you get is "lower" in the sense that the same amount of coins would have been a higher price, and since the prices are lower right now, the same amount of coins are lower in dollar worth these days. So, you could get "more" dividends in the sense that if someone played 100 bucks and lost, it was less coins, now it's more coins all due to the fact that the price is lower on all coins now.This means that we could make more and I believe that even though the returns are same, it's not going to be really "same" in that sense, and it would be going up if you do not spend them. So, I can understand what he meant.
I agree that this ups and downs do matter when gambling and that is why it's such an important situation. This means that the best thing we could do right now is to make sure that we won't spend too much.
July 04, 2022, 12:04:03 PM
Impermanent loss is very minimal on token like BFG that price moves in sideways for almost a month. Yes farming is good because it gives sure profit but the difference in APY between farming and liquidity mining is much larger so liquidity farming is still profitable rather than farming if we can based on the current price behavior of BFG tokens. Actually impermanent loss is not actually loss to the initial investment, You just missed the opportunity from gains when the token price pump which will be covered by the passive reward of the liquidity pool.
The difference in price between farming and liquidity mining is more than advantages of liquidity mining over farming. BFG tokens are on the way up, but they're still docked with a lower valuation. While it's really hard to predict whether tokens would go even higher, I think this project deserves a closer look at how it works. The token itself is not worth what you paid for it, but similar projects can wind up being worth much more than they were originally.
July 02, 2022, 07:56:56 AM
The dividend you get is in 5 coins (BTC, ETH, USDT, TRX and BNB) and it is not because the market crashed, that you get more dividends. The amount you will get, is based on the amount BFG tokens you have and is not dependent on the crypto price.
You are both right and also a tiny bit wrong at the same time. The amount you get is "lower" in the sense that the same amount of coins would have been a higher price, and since the prices are lower right now, the same amount of coins are lower in dollar worth these days. So, you could get "more" dividends in the sense that if someone played 100 bucks and lost, it was less coins, now it's more coins all due to the fact that the price is lower on all coins now.This means that we could make more and I believe that even though the returns are same, it's not going to be really "same" in that sense, and it would be going up if you do not spend them. So, I can understand what he meant.
July 01, 2022, 06:42:12 AM
I have to say, the dividend idea became better and better if you look at it today. The price of everything went low right? Which means that for the same amount of dollars, you would get a bigger piece of the pie, which means that you will get a bigger return from the dividends, which means that even if the dollar value of it would be similar, the return would be bigger. In this case you could either let it collect and when the market is back on bull and you reach 100k per bitcoin levels, then you could sell the tokens (this is the one I suggest now). Or you could simply gamble it all, and you would have bigger return to gamble which is better anyway. Todays drop really helped a lot.
The dividend you get is in 5 coins (BTC, ETH, USDT, TRX and BNB) and it is not because the market crashed, that you get more dividends. The amount you will get, is based on the amount BFG tokens you have and is not dependent on the crypto price.
There is no doubt that some users will be disappointed with this decision since BFG farming was a passive way to earn tokens, although I wouldn't say that APY for staking tokens in that BFG pool was high. In any case, as mentioned earlier, users can still make some money from biswap by adding BFG tokens to the liquidity pool, and I think it's a good alternative to BFG farming on the Betfury site.
APY was maybe not extremely high, but you still get around 55%, which is not bad. I know you can do it on Biswap, but it is just more convenient to do it on the Betfury site itself.
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June 30, 2022, 07:39:07 PM
It seems a little bit strange to me that the farming was not so popular as it is/was quite interesting in fact and the %APY was also quite high. Too bad that they will probably not renew it as it was an easy method to gather some more BFG tokens. But as you mention, the impact on the price will be limited.
users can still make some money from biswap by adding BFG tokens to the liquidity pool, and I think it's a good alternative to BFG farming on the Betfury site.
By the way, is anybody from here participating in the "portray his majesty, Mr Fury" contest? i saw the post on betfury's telegram group, what do you guys think about this contest ?
June 30, 2022, 06:26:45 PM
It seems a little bit strange to me that the farming was not so popular as it is/was quite interesting in fact and the %APY was also quite high. Too bad that they will probably not renew it as it was an easy method to gather some more BFG tokens. But as you mention, the impact on the price will be limited.
There is no doubt that some users will be disappointed with this decision since BFG farming was a passive way to earn tokens, although I wouldn't say that APY for staking tokens in that BFG pool was high. In any case, as mentioned earlier, users can still make some money from biswap by adding BFG tokens to the liquidity pool, and I think it's a good alternative to BFG farming on the Betfury site.
June 30, 2022, 05:25:31 PM
I have to say, the dividend idea became better and better if you look at it today. The price of everything went low right? Which means that for the same amount of dollars, you would get a bigger piece of the pie, which means that you will get a bigger return from the dividends, which means that even if the dollar value of it would be similar, the return would be bigger. In this case you could either let it collect and when the market is back on bull and you reach 100k per bitcoin levels, then you could sell the tokens (this is the one I suggest now). Or you could simply gamble it all, and you would have bigger return to gamble which is better anyway. Todays drop really helped a lot.
June 30, 2022, 04:48:36 PM
Don't spend money on it till all account managers is fired!
I have warned them now.
Same goes for you nosy fuck admin. You are fired or you wont get the money!...
Stay of it!
I have warned them now.
Same goes for you nosy fuck admin. You are fired or you wont get the money!...
Stay of it!
June 30, 2022, 12:30:09 PM
Something that only the success of the team can dictate the future profitable potential of this coin, staking or using it for your everyday gambling to earn some additional coins, it's up to you as long as you treat this investment as passive and you are not really being affected of the current crypto movement. Long-term wise, if you have good control over your emotion from both gambling and trading, you will have good chances of success.
I do agree that it’s up to you, but the idea seems alright to be fair. Think about it this way, if you look only in the token number approach, that means you will earn let’s say dividends, and then you will keep on spending that token to gamble and then repeat this constantly, technically speaking when you lose you even get some of it back since it's dividends from the losses which you helped.So, you are not losing something, and even in a bear market that isn't really a bad approach at all. I personally do prefer it this way, it definitely makes things a lot better and it does bring a new level of approach to what we have been doing for years.
June 30, 2022, 05:05:43 AM
Betfury games platform was one of the gambling I'd like to play with. The good thing about this gaming platform is that as long as you have a Bitcoin balance in Betfury.io's wallet, you can earn other coins supported by BFG as if your BFG account automatically mines other crypto without other gambling games. like this, I just don't know now if the concept of their policy is still the same and nothing has changed.
I believe this feature will be obsolete already since they are removing the farm feature of the casino after 2 weeks as already pointed out by many users above. I have balance there but the passive tokens that I get everyday is almost negligible since the percentage of drop is very low and also there’s a duration date on when you can claim the reward amount which is annoying. You need to login and claim it daily even though it’s value is not worthy of the time that’s why I stop claiming it but rather just wager few bets on dice to increase my rakeback.
June 30, 2022, 04:49:34 AM
It seems that BFG farming on the Betfury site is not very popular, considering that users have staked only 106 mln BFG tokens on that smart contract. I mean, it's a very small number of BFG tokens compared to the total supply. So you're probably right, and it's unlikely that the end of BFG farming will somehow affect the price of the BFG token. At the same time, I think the Betfury team is making the right decisions in trying to find ways to increase the value of the BFG token.
It seems a little bit strange to me that the farming was not so popular as it is/was quite interesting in fact and the %APY was also quite high. Too bad that they will probably not renew it as it was an easy method to gather some more BFG tokens. But as you mention, the impact on the price will be limited.
June 30, 2022, 01:38:51 AM
Betfury games platform was one of the gambling I'd like to play with. The good thing about this gaming platform is that as long as you have a Bitcoin balance in Betfury.io's wallet, you can earn other coins supported by BFG as if your BFG account automatically mines other crypto without other gambling games. like this, I just don't know now if the concept of their policy is still the same and nothing has changed.
June 30, 2022, 12:36:59 AM
-snip- but the VPN itself is not bad since it’s just hide the IP of the user if he is just using it to change his IP for privacy purposes.
Yes people are free to do what they want to there money and sometimes this is the main reason why they are still registering in online casino despite there country prohibits it.
Sometimes the use of a VPN is not only to change the actual IP address because of privacy but because the ISP of the user blocks access to the gambling website even though the ToS of casino the user's country is not included in the restricted country list, but because the casino is his favorite place to play so users will use a VPN to be able to access and play at the casino. Agree that using a VPN is not a bad thing even though it is often associated with bad things such as bonuses abuse, etc Yes people are free to do what they want to there money and sometimes this is the main reason why they are still registering in online casino despite there country prohibits it.
June 29, 2022, 10:00:57 PM
I think that the IP to which they refer is to the public, but not to the specific one that generates each device that connects, but this is something very dfícile to control, we all know that a simple phone can use a VPN and cell phones The public IP can be changed every time that you want, just with rebirth, with putting a different public IP in plane mode, and that more the VPN is almost impossible, I think that in the future it will arrive That all casinos have to accept the players who use VPN, but they will run out of no one if they prohibit countries, or that prohibit IPS, the solution is that they have more security, investing in security is to arm themselves with unpleasant problems and unexpected attacks .
I don't see any future which all casino will let users use VPN and have no issues with it. "Investing in security" means they need to find developers who are experienced with cyber security.
They need that in order to protect their business, using VPN if not being caught can still proceed but once the problem take place the players/gamblers who use it will suffer, the chance that the account will be suspended or worse will be block and they won't be able to withdraw their money.
And also, in terms of cyber security, they need to have someone or a team who will focus on protecting the sites from potential hackers.
It's part of investment that the business needs to have to assure gamblers that they are safe using the platform.
I usually use VPN when browsing because that's my default setup when browsing the web. I rarely claim any bonuses on any casino so I usually don't worry about me getting caught by there cyber security. I've been using VPN for many years and so far I don't encounter any issue for my account. Some of the casino directly prohibit it but there is some extension to rule especially if you are just using it for browsing privacy and not by abusing bonus of the casino.
Yeah right, there are casino sites that really strict in regard to using VPN while some might not be like that, the main concern is when you are using the platform and you win a huge amount, they can freeze your account and not to allow you to withdraw your fund, that the big risk that all gambles doesn't want to experienced.
If you are only using your VPN in browsing and you are not that abuser, then probably there's no problem that will be at stake.
You can continue your practice, it's also for your security while online.
There are several threads here in gambling that are addressing what VPNs are and how to enter a casino that accepts the use of this or not, however apart from the fact that this already represents a problem there are casinos that do accept VPNs, but as I have said in those gambling threads, there will come a time when there will be no prohibition of countries, therefore, the use of VPN will no longer be such a priority for some inhabitants of prohibited countries, because finally the world must accept that the BTC market and crypto is very profitable and that money is managed, you cannot prohibit people from making money or having fun, for me the biggest problem will be that people will want to have more privacy and anonymity. This is where it comes into direct conflict with KYC, which for me, those casinos that do not require KYC will be highly sought after.
June 29, 2022, 05:50:01 PM
BFG tokens farming is still available on Biswap and also stopping the farm doesn’t make sure that the token price will pump because it just limit the supply increase but the buy pressure will still the same unless Betfury increase there token burn mechanism and add additional feature of BFG that will forced user to use it in gambling so that Betfury players will buy more tokens instead of using different currency to play.
It seems that BFG farming on the Betfury site is not very popular, considering that users have staked only 106 mln BFG tokens on that smart contract. I mean, it's a very small number of BFG tokens compared to the total supply. So you're probably right, and it's unlikely that the end of BFG farming will somehow affect the price of the BFG token. At the same time, I think the Betfury team is making the right decisions in trying to find ways to increase the value of the BFG token.
June 29, 2022, 08:43:54 AM
The cycle continues and the longer you take your stake, the better in the future. As long as the progress is happening and the business is still alive, there's no problem with the current setup. But everything depends on how the traders and investors understand the process. The investment side is like a passive way of generating profits while holding and waiting for the value to rise up.
I would guess that after you buy as much as you can, and then start staking it, rest of the situation is at the hands of the market. If everyone leaves and only a few people remains, it will be worth very little but you will make a lot more profit since you are one of the few that remains doing it.If one day everyone comes back, the return for staking will drop, but the value of the token will skyrocket. So, best case scenario for everyone right now is getting in, hoping that everyone leaves, be worth little, stake a lot, then everyone slowly comes back, and price of it increases a lot when you staked enough. This is why everyone gotta start now in order to maximize the profit.
It means, the price going up or down is out of our reach and something we can't change, so why feel anxiety about it? This is why I personally believe that the best thing we could do is exactly what you say, just get in, stake, get the dividends, and then wait for it to go up, absolutely perfect investment method, can't see any downside.
Something that only the success of the team can dictate the future profitable potential of this coin, staking or using it for your everyday gambling to earn some additional coins, it's up to you as long as you treat this investment as passive and you are not really being affected of the current crypto movement. Long-term wise, if you have good control over your emotion from both gambling and trading, you will have good chances of success.
June 29, 2022, 03:05:45 AM
It is a smart move to accumulate your dividends and then play with them. I mean there are a lot of people who gamble with the money they deposited and thank god for them, without them we wouldn't have betfury and we wouldn't have any dividends and that is why I thank them a lot.
But what you do is also a very cool thing, because it allows people to actually have a situation where it is not that weird, it's totally a good way to approach gambling since you "technically" do not lose any money. Obviously you could take that investment and reinvest, or cash out, and you do not do that and instead you gamble it away, so it's a bit of losing, but at least you earn it from here and give it back and that's quite good.
I am a small gambler so I don't mind playing with bets of 0.01$ and was lucky enough to grab a nice amount of BFG tokens thanks to the Bounty campaign they ran almost 2 years ago. As you say, I don't really mind loosing my balance as I always get more BFG tokens also.
June 29, 2022, 02:37:44 AM
Of course, using daily dividends to mine BFG tokens is the right decision. However, if your dividends are small, BFG tokens will increase insignificantly because the minimum bet must be more than 1 cent. In your case, that means you can only make 12 bets per day to mine BFG tokens. Obviously, this number of attempts is not enough. So how many days do you accumulate these daily dividends before BFG mining, or do you use any other strategies?
I don't play every day, so most of the times I accumulate my dividends for 3-4 days. I always play Dice or Mines or Keno on low risk just to mine the tokens. I agree it goes slowly, but I don't mind it and in the end it also adds up. When there is a mining boost, I always play more also. But what you do is also a very cool thing, because it allows people to actually have a situation where it is not that weird, it's totally a good way to approach gambling since you "technically" do not lose any money. Obviously you could take that investment and reinvest, or cash out, and you do not do that and instead you gamble it away, so it's a bit of losing, but at least you earn it from here and give it back and that's quite good.
June 29, 2022, 02:22:41 AM
The cycle continues and the longer you take your stake, the better in the future. As long as the progress is happening and the business is still alive, there's no problem with the current setup. But everything depends on how the traders and investors understand the process. The investment side is like a passive way of generating profits while holding and waiting for the value to rise up.
I would guess that after you buy as much as you can, and then start staking it, rest of the situation is at the hands of the market. If everyone leaves and only a few people remains, it will be worth very little but you will make a lot more profit since you are one of the few that remains doing it.If one day everyone comes back, the return for staking will drop, but the value of the token will skyrocket. So, best case scenario for everyone right now is getting in, hoping that everyone leaves, be worth little, stake a lot, then everyone slowly comes back, and price of it increases a lot when you staked enough. This is why everyone gotta start now in order to maximize the profit.
It means, the price going up or down is out of our reach and something we can't change, so why feel anxiety about it? This is why I personally believe that the best thing we could do is exactly what you say, just get in, stake, get the dividends, and then wait for it to go up, absolutely perfect investment method, can't see any downside.
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