They (Betfury) are using a third-party service for swaps, so if something goes wrong they will not be responsible for that. I guess it's just a technicality, everyone takes care of themselves. I will use it without some fear, as others who have "salads" bankrolls... I was moving all in BFG until now, but with more options, I will stop with that.
I dunno, I still do not see moving to other places all that easily, or not that comfortable. I feel like moving all the "dust" to BFG is still the best option for me. I am not saying moving all my money by the way, of course that is not the best option, I am saying like let's assume you wagered all day and then you have 7k satoshi left, that is not an amount to continue, if you want to just call it a day, you can move all 7k satoshis to BFG and then start fresh some other time.
Would I do the same if it was like 100+ dollars, probably not, but when its like maybe a few thousand satoshi? Then yeah, I feel like that's the best deal. That's how I actually once got 120 dollars in BFG, and then I cashed it out, so it does get bigger with time.
Well, you are right anyways, it's nothing new actually, since this is something many of us are already familiar with as we constantly do this on exchange with exchange tokens, like bnb on Binance for example, I never bought a single bnb, but today, proud to say that own atleast, 0.3+ bnb on my trust wallet, I got this amount by converting my dust balances of other coins like bitcoin, usdt, Solana and so on to bnb, and when the bnb amount on Binance account is above $5 worth, I withdraw it to my trust wallet.
It's a good strategy though, because even right now, I feel like someone actually gave me those bnb for free, as it doesn't feel like I bought it with my money at all.
I am not that actively playing on betfury, but if I was, this is exactly what I would have also be doing with my dust balances, accumulating it into the casinos token could end up being very profitable.
In general, I think that precisely this gaming behavior in terms of conversion and long-term accumulation of token dust in this casino is one of the marketing strategies that the devs came up with and implemented from the very beginning.
And this seems completely normal to me simply because sometimes your brain remembers that you have several dollars worth of BFG tokens and you automatically remember the casino itself and your very opportunity to play in it. This is how traffic to the casino website increases.
I even like this solution.
Well, don’t forget that the token itself has existed and been traded for many years, which is also good, of course.
Nothing is free. When casino sites offer different giveaways or bonuses, these are their investments. They attract gamblers with them. BFG team is using BFG token for their marketing and this token is their own creation so their investment in this case is very less. The market is very competitive and in order to survive in this market, you have to constantly use the union strategy. The better the strategy used by the company, the higher the market value. They continue to make huge profits and we get excited with a small bonus and continue to gamble and lose.
Something that I realized very early on in this cryptocurrency market is that things are very well separated, for example the altcoin business is very well separated from the casino business. They are two very different business models and for those who understand investments very well, they know this very well. Why do I consider altcoins to be a business for their creators? And here's the thing, when a person creates altcoins, that person is creating a business for themselves, it could be a business creating security software for companies, it could be a data encryption business, it could be a business of many things, This person who creates this company is seeking profits and also when he puts the company's shares up for sale, then he is putting his company on the market and allowing the company to analyze them
and choose whether or not it's worth just buying shares in that company, before people buy shares in a company, they look at the company's past and present and look at competing companies and analyze what the new company has to offer that competing companies don't. has and will be very valuable in the future. If the new company has a very low share price and also has a very valuable service or product that is very undervalued, then people will buy shares in the new company. So in the cryptocurrency market things should work the same way. Of course, there are many people who don't analyze much before investing. for example in the case of the casino token. Let's think about the following: there are many casinos in this market, although they all have the same business model, there is no innovation in this area.
The casino profits from people's losses. the casino can offer bonuses with certain conditions that are difficult to meet, the casino can offer gifts and competitions, the casino can put in place a referral system, the casino can put in place a VIP account system. but this is something that many other casinos have. So why would a rich guy invest in this BFG token? Many people will tell me that the guy will benefit from the casino, but honestly it seems to me that people are confusing investing with gambling. In a casino, people play for fun, not for investment. This is something basic that everyone should know. so a rich person and a great investor will not buy a casino token to invest, because they know very well that a casino is a company with a limited business model, that it has a standard and that all other casinos follow that same standard
We will not see any casino offering a 10000% bonus, this is because it would not be profitable for the casino. It is enough to see that in a casino people are playing for fun and not for profit. It is different from a cryptocurrency company that offers computer software for example. In this case, the software company will sell software to other companies and people who want to invest in that company's shares can research whether it is a company that has better software and whether it will make agreements with large companies, if people realize that the software company will make agreements with big companies, then they will invest in that company, if people know that that company will list their altcoin on binance then people will buy that altcoin from that company. but in the case of casino tokens, there is nothing new, they do not list their tokens on major exchanges. So investing in casino tokens I see as a bad investment. the lowest price of bfg token was
0.01019, in November 2022 and the highest price of bfg token was
$0.03781 in September 2023. so it already gave 3x profit to all the lucky ones who bought in November 2022, whoever bought at $0.01019 and didn't sell at $0.03781, lost the chance of a 3x profit, now I highly doubt that someone will buy today and make a 3x profit, not even 2x will be very difficult
