Betting on cryptocurrencies prices - page 2.

crwth

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Quote from: megynacuna on November 06, 2017, 05:45:17 AM

Quote from: chris200x9 on November 06, 2017, 05:25:22 AM

Quote from: Mike Mayor on November 05, 2017, 07:38:37 PM

What is the difference between this and just but ng and selling the currency yourself? It would be the same thing wouldn't it? Maybe even cheaper since you wouldn't pay any fees only the regular trading fee which is about 0.2%? Unless this is just to make it faster? Esspecially with small amount you could make more bets then if you were trading each time. So to me this seems like arbritage.

If I understood correctly, in these betting if you bet any amount for example 0.01 BTC at certain price for next two minutes or any time site provides and if you win that bet then you can almost double your money within that short time and if you fail to predict correctly then you will lose all your bet amount. But in trading, you will make profit or loss only the difference in buying and selling amount.

OP can't re-invent the wheel, all that he's trying to do is the same as trading on the margins and so i don't know why he wants to give it a new name by describing it differently. There are many forms of stock, forex or crypto trading on the various exchanges which operate similar principles as this.

If you are going to do it manually, you need to have your own customers, which are the users of the currency exchange and that's hard to make them because they have to transact with you personally and that's going to be hard. If you are going to be in an exchange, it's easier, that's just my opinion. It's like trusting someone to trade hoping for a profit of some sorts.

megynacuna

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Quote from: chris200x9 on November 06, 2017, 05:25:22 AM

Quote from: Mike Mayor on November 05, 2017, 07:38:37 PM

What is the difference between this and just but ng and selling the currency yourself? It would be the same thing wouldn't it? Maybe even cheaper since you wouldn't pay any fees only the regular trading fee which is about 0.2%? Unless this is just to make it faster? Esspecially with small amount you could make more bets then if you were trading each time. So to me this seems like arbritage.

If I understood correctly, in these betting if you bet any amount for example 0.01 BTC at certain price for next two minutes or any time site provides and if you win that bet then you can almost double your money within that short time and if you fail to predict correctly then you will lose all your bet amount. But in trading, you will make profit or loss only the difference in buying and selling amount.

OP can't re-invent the wheel, all that he's trying to do is the same as trading on the margins and so i don't know why he wants to give it a new name by describing it differently. There are many forms of stock, forex or crypto trading on the various exchanges which operate similar principles as this.

chris200x9

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Quote from: Mike Mayor on November 05, 2017, 07:38:37 PM

What is the difference between this and just but ng and selling the currency yourself? It would be the same thing wouldn't it? Maybe even cheaper since you wouldn't pay any fees only the regular trading fee which is about 0.2%? Unless this is just to make it faster? Esspecially with small amount you could make more bets then if you were trading each time. So to me this seems like arbritage.

If I understood correctly, in these betting if you bet any amount for example 0.01 BTC at certain price for next two minutes or any time site provides and if you win that bet then you can almost double your money within that short time and if you fail to predict correctly then you will lose all your bet amount. But in trading, you will make profit or loss only the difference in buying and selling amount.

Mike Mayor

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What is the difference between this and just but ng and selling the currency yourself? It would be the same thing wouldn't it? Maybe even cheaper since you wouldn't pay any fees only the regular trading fee which is about 0.2%? Unless this is just to make it faster? Esspecially with small amount you could make more bets then if you were trading each time. So to me this seems like arbritage.

btc-facebook

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Quote from: phr0stbyt3 on November 05, 2017, 11:18:44 AM

I really loved the idea of betting on crypto currencies the only problem was amount of choice most the coins available are not sufficient only the main ones live bitcoin, ether and few other coins are available, if they could add more coins it would be more fun and interesting. Nevertheless I'm sure in future this will be trend

Bitcoin binary gambling is quite difficult to predict yet it's was addictive to play.
As I know fortune jack ever also have binary trading so just make sure that you're prepare for lossing rather than winning. ( or you must select long term bet rather than short term betting type )

phr0stbyt3

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I really loved the idea of betting on crypto currencies the only problem was amount of choice most the coins available are not sufficient only the main ones live bitcoin, ether and few other coins are available, if they could add more coins it would be more fun and interesting. Nevertheless I'm sure in future this will be trend

nizamcc

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Quote from: exstasie on November 05, 2017, 08:57:06 AM

Quote from: bering on November 04, 2017, 02:39:59 PM

binary option website which is held signature campaign maybe you mean is secondstrade.com but very unfortunate they are currently closed their service because i have tried visit their website but it was never reach to that site but there is not much casinos provide for this game because this kind of game doesn't so popular such as dice or poker even if there are several site available i think we have to do some research to ensure those site is legit

I'm pretty sure that Secondstrade rebranded.... they have had a pretty dodgy history here on the forum from looking at the their trust rating. Long before the hacked account debacle, there were complaints about rigged options and violating their own terms on multiple occasions. I think the people behind Secondstrade are now running GoGoOption, which recently ran an advertising campaign on the forum.

I'd stay away from binary options, personally. At best, you are getting bad odds on a gamble where you can't possibly have an edge. I'd prefer to do martingale dice or online poker if I wanted to gamble with better expected value (with emphasis on poker).

As I already said, odds are very odd and they are not here to lose just like us.
For someone to win, many have to lose and that's how these sites pay their winners.
Just like you, I also like dice and sports betting because we know the outcome sometimes and we crack on them easily, but in binary options, it's easy for these sites to do some "molestation" with the system and show the price they want to show and you already know that people lose by even a single point as it's all been seen on a point-by-point basis. It's still better to stay away from such sites.

Labumi

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Quote from: ardentvolcanoes on September 23, 2017, 11:03:46 AM

If you're ready to take the risks and if you're so sure that the price may go up in the future then it's fine but be sure that if it don't work well on what you have predicted then you have to accept it fully. I don't bet on cryptocurrencies because I'm not ready to take the risks on losing money.

Hmm, indeed like what you say the advantage is that we can believe but we can't know whether it is true or not. One main thing that can indeed provide us with the exact profit and not out of line there is analysis, which when we can do an analysis properly then the steps taken are the best. Because we will take steps in accordance with the existing results, stay focused and also self control.

exstasie

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Quote from: bering on November 04, 2017, 02:39:59 PM

binary option website which is held signature campaign maybe you mean is secondstrade.com but very unfortunate they are currently closed their service because i have tried visit their website but it was never reach to that site but there is not much casinos provide for this game because this kind of game doesn't so popular such as dice or poker even if there are several site available i think we have to do some research to ensure those site is legit

I'm pretty sure that Secondstrade rebranded.... they have had a pretty dodgy history here on the forum from looking at the their trust rating. Long before the hacked account debacle, there were complaints about rigged options and violating their own terms on multiple occasions. I think the people behind Secondstrade are now running GoGoOption, which recently ran an advertising campaign on the forum.

I'd stay away from binary options, personally. At best, you are getting bad odds on a gamble where you can't possibly have an edge. I'd prefer to do martingale dice or online poker if I wanted to gamble with better expected value (with emphasis on poker).

bering

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Quote from: boyptc on November 02, 2017, 05:18:59 AM

Quote from: lili song on November 02, 2017, 04:49:08 AM

Yes, I'm ever bet there if I'm not mistaken, the site name was updown.bt (they ever held signature campaign as well).
I'm admit that the game is quite addictive, able to make quick profit and quick loss also.

So do not gamble more than you can afford to loss and you've been warned !

I never tried to used that binary options website and I can't remember that they've held a signature campaign or I was still not on this forum by that time. Most of the binary options that are quite popular today are those sites that has signature campaign.

binary option website which is held signature campaign maybe you mean is secondstrade.com but very unfortunate they are currently closed their service because i have tried visit their website but it was never reach to that site but there is not much casinos provide for this game because this kind of game doesn't so popular such as dice or poker even if there are several site available i think we have to do some research to ensure those site is legit

Burks

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Quote from: crwth on November 02, 2017, 10:52:57 PM

I'm new to this type of cryptocurrency prices, they have taken advantage of the volatility of the prices and managed to use it as a way to earn. That's smart. Predicting the price probably takes luck, and you need to be alert when something happens because the current news will decide on the amount whether there will be demand or not.

Don't think gambling is a way of earning because it is only based on the luck so you can't do anything while playing.The losing percentage of gambling is more than 80%.So think before you do anything but betting on crypto currency price is easier than the normal betting because the anonymous of bitcoin allows us to pay easily no information needed.Cryptocurrencies are the great payment solution for online gambling. Bitcoin gambling can prove this with its thriving industry and potency in the market. In contrast with conventional payment methods wherein long waiting times are needed to deposit and withdraw money, alternative coins made deposit and withdrawal processes fast and easy as 1, 2, and 3. The procedures of sending and receiving payments are just the same in doing transactions with bitcoins. Whether you are using Litecoin, Dogecoin, Feathercoin, or whatever alternative cryptocurrency you prefer, peer-to-peer technology is used.

boyptc

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Quote from: Oilacris on November 02, 2017, 05:34:38 AM

Quote from: boyptc on November 02, 2017, 05:18:59 AM

Quote from: lili song on November 02, 2017, 04:49:08 AM

Yes, I'm ever bet there if I'm not mistaken, the site name was updown.bt (they ever held signature campaign as well).
I'm admit that the game is quite addictive, able to make quick profit and quick loss also.

So do not gamble more than you can afford to loss and you've been warned !

I never tried to used that binary options website and I can't remember that they've held a signature campaign or I was still not on this forum by that time. Most of the binary options that are quite popular today are those sites that has signature campaign.

Maybe it was on year 2014 backwards? I didnt even heard such site because the site i do encounter which do have this kind of betting on crypto price is on fortunejack which you can able to find here: https://fortunejack.com/games/btrader/ .I have seen other site which are similar but i really forgot the name of those sites.

I don't know I was still not on the forum nor to bitcoin by that time. If only someone can give a legit experience about that.

EDIT: I tried to visit updown.bt but it never loads.

bhadz

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Quote from: DeathAngel on November 02, 2017, 11:01:19 AM

Whilst there’s always money to be made gambling I’d say this is a field that should be left well alone atm. Too unpredictable.

Too unpredictable but there are people who are earning more than forex and trading on this game.

Quote from: crwth on November 02, 2017, 10:52:57 PM

I'm new to this type of cryptocurrency prices, they have taken advantage of the volatility of the prices and managed to use it as a way to earn. That's smart. Predicting the price probably takes luck, and you need to be alert when something happens because the current news will decide on the amount whether there will be demand or not.

You don't know what you are talking about, you're on the wrong thread try to read the original post before saying something. To quote it for you, this is what the OP says'

Quote from: EricBCoins on September 20, 2017, 09:27:21 AM

Hello,

I'm looking for the bitcoin/litecoin binary options betting website. On this kind of websites you can bet what the price of for example bitcoin will be in 3 or 5 minutes. Can you recommend any?

Thanks!

crwth

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I'm new to this type of cryptocurrency prices, they have taken advantage of the volatility of the prices and managed to use it as a way to earn. That's smart. Predicting the price probably takes luck, and you need to be alert when something happens because the current news will decide on the amount whether there will be demand or not.

chris200x9

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Quote from: buyinbtc on November 02, 2017, 07:17:40 AM

Quote from: reliable on November 02, 2017, 05:35:51 AM

This seems to be interesting because it is more than speculation and gambling. It is more about identifying and doing research based on the available information across the globe as which coin will rise in the coming time and to what extent. Charts also do come in the picture as you can know how the prices seems to tend whether upward or fall.

Well yeah you can win more often here but it is still risky. It's less risky than dice, slots or roulette games but it's still more risky that sport betting, where you actually can predict result, you can't really predict how price of some alt coins will change.

If going to predict prices for very short terms then it is very challenging because no one can say how markets move. But as an investor and you can wait for a long time then you can choose some good coins to invest. But for gambling purpose to predicting prices for next few seconds or minutes very risky.

babygun

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I didn't think that a site where you can predict price of cryptos such as bitcoin existed, but apparently such sites does exist.
Seems like quite fun to do, I think everybody likes to speculate (look at all the topics here on bitcointalk) and betting on crypto can give that extra fun factor.

DeathAngel

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Whilst there’s always money to be made gambling I’d say this is a field that should be left well alone atm. Too unpredictable.

nizamcc

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Quote from: reliable on November 02, 2017, 05:35:51 AM

This seems to be interesting because it is more than speculation and gambling. It is more about identifying and doing research based on the available information across the globe as which coin will rise in the coming time and to what extent. Charts also do come in the picture as you can know how the prices seems to tend whether upward or fall.

I agree that it's more than speculation and we need to be very firm with our decision here, but what I fear here is that there is a huge possibility of bot manipulation of the system itself to try and make you lose more even if you get in as well as "out" at the correct time but due to that one second manipulation, you lose your entire bet. The picturization is still not accurate according to my thinking because they really don't tell us which of the exchanges' average price they undertake for the purpose of results.

buyinbtc

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Quote from: reliable on November 02, 2017, 05:35:51 AM

This seems to be interesting because it is more than speculation and gambling. It is more about identifying and doing research based on the available information across the globe as which coin will rise in the coming time and to what extent. Charts also do come in the picture as you can know how the prices seems to tend whether upward or fall.

Well yeah you can win more often here but it is still risky. It's less risky than dice, slots or roulette games but it's still more risky that sport betting, where you actually can predict result, you can't really predict how price of some alt coins will change.

piloder

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Quote from: reliable on November 02, 2017, 05:35:51 AM

This seems to be interesting because it is more than speculation and gambling. It is more about identifying and doing research based on the available information across the globe as which coin will rise in the coming time and to what extent. Charts also do come in the picture as you can know how the prices seems to tend whether upward or fall.

It is interesting but binary option is also just like gambling and it is completely different than simple crypto trading where charts and current trend matters.
In binary if market doesn't react in the way you have predicted for the time period you have selected you will loss all your bankroll while in trading you will only loss portion of your bankroll.

Topic: Betting on cryptocurrencies prices - page 2. (Read 1251 times)