Chips.gg |🎰 1000+ Slots |🎤 Live Casino |🎲 1% House Edge Dice |🏦 The Vault - page 6.

joniboini

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Quote from: Synchronice on November 10, 2024, 11:29:31 AM

By the way, if hack happens on a casino, that doesn't necessarily mean that you'll lose your deposit. Some famous casinos have been hacked but users had zero problems. The casino has to have a good management of hot and cold wallets. In hot wallet, there must be money that casino can afford to lose and cold wallet should be protected very carefully.

I'm aware of that, but I don't like relying on chances and promises to secure my money. Sure, reputable casinos would have a backup wallet for emergency purposes or insurance promised to help users who were affected if a large-scale hack happened, but it's still outside of my control. This is a risk I'm willing to take, but a huge factor for me to choose which exchange or casino I choose.

Quote from: RockBell on November 12, 2024, 11:08:09 AM

even cex will not expose your data, they know how such situations will affect the image of the company so they are very careful all the kind of decisions they are making, concerning their customers, and that is why they try to protect the intrest of their customers no matter which one.

Judging from how exchanges or centralized services behave, sometimes it feels like they don't have the interest of the customers in their minds at all. Image means nothing if they plan to run with the money after all.

RockBell

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Quote from: hd49728 on November 08, 2024, 09:34:13 AM

Reminder: do not keep your money in online accounts.

The reminder is never old, and will be usable in future too. People are free to choose Centralized or Decentralized exchanges or platforms, they will need to assess risk and benefit between CEX and DEX, or generally centralized and decentralized platforms, and make their decisions. Like accept risk or not, want to prioritize lower transaction fee in long term or not, it's their choice after considering many factors.

People have the right to choose wether centralized or decentralized, and anyone that people are using will have a reason because we all can not like the same thing, so people that want to go for vex and Dex can and if not for data protection cex is not that bad, but for the love of privacy Dex is okay and both are okay and even cex will not expose your data, they know how such situations will affect the image of the company so they are very careful all the kind of decisions they are making, concerning their customers, and that is why they try to protect the intrest of their customers no matter which one.

hd49728

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Not your keys, not your coins!

Quote from: Synchronice on November 10, 2024, 11:29:31 AM

I'm thinking now, is it a better idea to use one CEX or two CEXs are a better choice? In terms of mitigating risks.

It's bad risk mitigation method.

First, you only need to trade what you afford to lose in failed tradings or in massacre on exchanges especially on centralized exchanges.
Second, use one good exchanges in your assessment and belief for deposit your fund on it for trading, withdraw your fund when you see market is boring and no chance for trading.

Diversifying your fund on centralized exchanges, is not like good idea. Risk will increase, not smaller.

Quote

By the way, if hack happens on a casino, that doesn't necessarily mean that you'll lose your deposit. Some famous casinos have been hacked but users had zero problems. The casino has to have a good management of hot and cold wallets. In hot wallet, there must be money that casino can afford to lose and cold wallet should be protected very carefully.

Casinos are like centralized exchanges, if they get hacked, they possibly have very different endings.

Die shortly after a hack.
Scam exit shortly after a hack.
Pay compensation to users, instantly or gradually with time and recover from the hack.
Pay compensation to users, and close their services.
File for bankruptcy and users will have to wait for kind of refund from bankruptcy, it's long waiting time.

Synchronice

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Quote from: joniboini on November 09, 2024, 10:47:22 PM

Quote from: DaNNy001 on November 09, 2024, 03:10:58 PM

I mean everything around us is virtually risk so I think am good with risking having my coins on CEX as I understand fully all consequences will bounce back at me.

As of now I only use 1 CEX and tried to minimize exposure to other services. I'm not sure if people's behavior in choosing CEX over DEX is similar to web3 gambling or centralized casino. The risk is more or less the same but I feel like there are too many dapps that got hacked after release which shows either the lack of testing or terrible security practices from the users/casino. At least I don't have to make a huge deposit at a casino regularly so if a hack happens I'm less likely to be affected. CMIIW.

I'm thinking now, is it a better idea to use one CEX or two CEXs are a better choice? In terms of mitigating risks.
By the way, if hack happens on a casino, that doesn't necessarily mean that you'll lose your deposit. Some famous casinos have been hacked but users had zero problems. The casino has to have a good management of hot and cold wallets. In hot wallet, there must be money that casino can afford to lose and cold wallet should be protected very carefully.

hd49728

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Not your keys, not your coins!

Quote from: DaNNy001 on November 09, 2024, 03:10:58 PM

I will be under the category of users that would prefer lesser cost than privacy, I mean everything around us is virtually risk so I think am good with risking having my coins on CEX as I understand fully all consequences will bounce back at me.

You will come to a time you prefer privacy more than cost of on chain transactions. Some people begin with privacy enthusiasts and maintain it with time, but some others start like you and only change to care more about privacy with time. It's nothing bad because it's natural change on their individual knowledge, capital availability and priority on privacy.

However, one very important thing to say as a warning, privacy if lost, lost forever. You will not be able to get your privacy back if you lost it on Internet.

Bitcoin privacy resources.

Jawhead999

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Quote from: joniboini on November 09, 2024, 10:47:22 PM

As of now I only use 1 CEX and tried to minimize exposure to other services. I'm not sure if people's behavior in choosing CEX over DEX is similar to web3 gambling or centralized casino. The risk is more or less the same but I feel like there are too many dapps that got hacked after release which shows either the lack of testing or terrible security practices from the users/casino. At least I don't have to make a huge deposit at a casino regularly so if a hack happens I'm less likely to be affected. CMIIW.

Yeah that's true there are many cases where dApps got hacked or their wallet drained because they connected to wrong sites. This is why I'm really careful with dApps, if there's a choice to use CEX or dApps, I would choose CEX, because I have nothing to worry with the wallet I've used to sent the coins.

However, as a business, they need to upgrade, improve and follow the trend in order to grow their project.

joniboini

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Quote from: DaNNy001 on November 09, 2024, 03:10:58 PM

I mean everything around us is virtually risk so I think am good with risking having my coins on CEX as I understand fully all consequences will bounce back at me.

As of now I only use 1 CEX and tried to minimize exposure to other services. I'm not sure if people's behavior in choosing CEX over DEX is similar to web3 gambling or centralized casino. The risk is more or less the same but I feel like there are too many dapps that got hacked after release which shows either the lack of testing or terrible security practices from the users/casino. At least I don't have to make a huge deposit at a casino regularly so if a hack happens I'm less likely to be affected. CMIIW.

DaNNy001

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Leading Crypto Sports Betting & Casino Platform

Quote from: hd49728 on November 08, 2024, 09:34:13 AM

Quote from: chipsgg on November 08, 2024, 09:25:59 AM

You’re highlighting the essential trade-off between centralized and decentralized platforms. Centralized exchanges typically offer lower transaction fees, which can be attractive for users focused on cost efficiency. However, this comes with the need to deposit funds into the platform, meaning users sacrifice some control over their assets.

On the other hand, decentralized exchanges and Web3 dapps provide users with complete control over their funds, aligning with the ethos of decentralization and self-custody in crypto. However, as you noted, users often face higher transaction fees and potential network congestion. For many, the choice depends on whether they prioritize control and decentralization over cost efficiency. This trade-off is central to the decision-making process for users as they navigate both options.

Reminder: do not keep your money in online accounts.

The reminder is never old, and will be usable in future too. People are free to choose Centralized or Decentralized exchanges or platforms, they will need to assess risk and benefit between CEX and DEX, or generally centralized and decentralized platforms, and make their decisions. Like accept risk or not, want to prioritize lower transaction fee in long term or not, it's their choice after considering many factors.

I think that's literally what Op just said as he clear the air that the whole issue is still tied down to the particular user making the decision to actually chose lesser cost of transaction than full privacy control over their asset. Although I won't lie if am to be drawn under the same radar I think I will be under the category of users that would prefer lesser cost than privacy, I mean everything around us is virtually risk so I think am good with risking having my coins on CEX as I understand fully all consequences will bounce back at me.

hd49728

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Not your keys, not your coins!

Quote from: chipsgg on November 08, 2024, 09:25:59 AM

You’re highlighting the essential trade-off between centralized and decentralized platforms. Centralized exchanges typically offer lower transaction fees, which can be attractive for users focused on cost efficiency. However, this comes with the need to deposit funds into the platform, meaning users sacrifice some control over their assets.

On the other hand, decentralized exchanges and Web3 dapps provide users with complete control over their funds, aligning with the ethos of decentralization and self-custody in crypto. However, as you noted, users often face higher transaction fees and potential network congestion. For many, the choice depends on whether they prioritize control and decentralization over cost efficiency. This trade-off is central to the decision-making process for users as they navigate both options.

Reminder: do not keep your money in online accounts.

The reminder is never old, and will be usable in future too. People are free to choose Centralized or Decentralized exchanges or platforms, they will need to assess risk and benefit between CEX and DEX, or generally centralized and decentralized platforms, and make their decisions. Like accept risk or not, want to prioritize lower transaction fee in long term or not, it's their choice after considering many factors.

chipsgg

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The Future Of Cryptocurrency Gambling

Quote from: hd49728 on November 06, 2024, 12:12:27 AM

Quote from: joniboini on November 06, 2024, 12:01:36 AM

My experience with dapps is not deep but you can feel it if you've made dozens of interactions daily. Maybe gassless dapps can be a solution but who knows if the cost to sponsor it will be worth it. CMIIW.

Interactions with dapps, smart contracts cost people a lot in transaction fees and in long term, transaction fees for these interactions make them poorer. I believe that trading on centralized exchanges is better than on decentralized exchanges if the only consideration is trading fee.

Centralized platforms require users to deposit money in accounts, before trading or betting, and it's another concern on user side because some of them want to have full control of their fund. On centralized platforms, they don't have that full control on their fund and DEX, Web3, dapps can help them to have it. In return they will have to accept risk and loss in transaction fees.

You’re highlighting the essential trade-off between centralized and decentralized platforms. Centralized exchanges typically offer lower transaction fees, which can be attractive for users focused on cost efficiency. However, this comes with the need to deposit funds into the platform, meaning users sacrifice some control over their assets.

On the other hand, decentralized exchanges and Web3 dapps provide users with complete control over their funds, aligning with the ethos of decentralization and self-custody in crypto. However, as you noted, users often face higher transaction fees and potential network congestion. For many, the choice depends on whether they prioritize control and decentralization over cost efficiency. This trade-off is central to the decision-making process for users as they navigate both options.

hd49728

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Not your keys, not your coins!

Quote from: joniboini on November 06, 2024, 12:01:36 AM

My experience with dapps is not deep but you can feel it if you've made dozens of interactions daily. Maybe gassless dapps can be a solution but who knows if the cost to sponsor it will be worth it. CMIIW.

Interactions with dapps, smart contracts cost people a lot in transaction fees and in long term, transaction fees for these interactions make them poorer. I believe that trading on centralized exchanges is better than on decentralized exchanges if the only consideration is trading fee.

Centralized platforms require users to deposit money in accounts, before trading or betting, and it's another concern on user side because some of them want to have full control of their fund. On centralized platforms, they don't have that full control on their fund and DEX, Web3, dapps can help them to have it. In return they will have to accept risk and loss in transaction fees.

joniboini

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Quote from: RockBell on November 05, 2024, 02:49:17 PM

Definitely they won't force it on users but if it's creation will bring more people to the platform then why not bring it forward and in every business new initiative will help their people that will love it on the web3 so if the casino is ready to comsider does that mean that they are forcing it on the users this what will be of benefits to the people because if you will you will definitely make withdrawal even if ot is web3.

I mean there can be many ways to attract new users. Offering new games, faster payment options, faster CS response time, quick withdrawal process etc. That being said, I wonder if the demand for web3 is that high. Is there research on how much volume for web3 comes from gambling dapps? IIRC most transactions for web3/layer 2 apps are about lending and DEX. At the end of the day if the demand is there they'll probably offer it eventually, as long as they can patch things around so they won't get hacked after running it for a few months or so.

Quote from: RockBell on November 05, 2024, 02:49:17 PM

nd their will be people that won't mind at wether the fee is expensive on not on the chain since it won't be compulsory.

My experience with dapps is not deep but you can feel it if you've made dozens of interactions daily. Maybe gassless dapps can be a solution but who knows if the cost to sponsor it will be worth it. CMIIW.

RockBell

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Quote from: tranthidung on November 03, 2024, 12:18:55 PM

They can not create products and force users to use this or that, it's freedom for their users.

Main concern of the team is not technical things because if many scam altcoin projects can launch their platforms, games like Play to Earn, Metaverse with Web3 infrastructure, a high competent team like Chips.gg can do it easily.

So their main concern to build up and deploy Web3 for users, will be other things, and on top of my head, it is legal-related issues. If they feel clear with it, we will see Web3 products from Chips.gg team. Remember that with Web3 interactions, all things are on chain so users will have to pay more for on chain transaction fees and interactions with smart contracts.

Definitely they won't force it on users but if it's creation will bring more people to the platform then why not bring it forward and in every business new initiative will help their people that will love it on the web3 so if the casino is ready to comsider does that mean that they are forcing it on the users this what will be of benefits to the people because if you will you will definitely make withdrawal even if ot is web3.

We all know they are competent enough and we know that chipps will and others will put things I place and that is why it is very important, and their will be people that won't mind at wether the fee is expensive on not on the chain since it won't be compulsory.

tranthidung

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Farewell o_e_l_e_o

Quote from: RockBell on November 01, 2024, 02:55:20 PM

If they add it I don't see anything that is bad in that it can be like an upgrade just that it won't be nice if all the games are to web3 and they should select a few games for that web3 people can also participate in playing most of the games so anyone can decide which one they want to play, those that are on web3 should have their games so that they don't have to think otherwise than to stick to their web3

They can not create products and force users to use this or that, it's freedom for their users.

Main concern of the team is not technical things because if many scam altcoin projects can launch their platforms, games like Play to Earn, Metaverse with Web3 infrastructure, a high competent team like Chips.gg can do it easily.

So their main concern to build up and deploy Web3 for users, will be other things, and on top of my head, it is legal-related issues. If they feel clear with it, we will see Web3 products from Chips.gg team. Remember that with Web3 interactions, all things are on chain so users will have to pay more for on chain transaction fees and interactions with smart contracts.

RockBell

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Quote from: joniboini on November 01, 2024, 02:07:14 AM

That's true. To be fair I do think it's fine if Chips or other casino add new features or open new markets for web3 users as long as they don't move all of their games over there. I believe I'm not alone in this. Some people are also not comfortable with web3 dapps due to their experiences, and I doubt the number is small. Maybe things will change with reputation and verifiable contracts, but the beginning would probably take some time to take off, especially for new casinos.

If they add it I don't see anything that is bad in that it can be like an upgrade just that it won't be nice if all the games are to web3 and they should select a few games for that web3 people can also participate in playing most of the games so anyone can decide which one they want to play, those that are on web3 should have their games so that they don't have to think otherwise than to stick to their web3, in the crypto space there is a lot of things and different people with what they are comfortable with and what they are comfortable with is what they are experienced with and they might want to continue that way. it is a good suggestion and the trust is that the number of web3 will be few but there might be people that will try it out and they might want to stick to it, even for new Cainos the take won't be bad but might depend on their developers.

tranthidung

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Farewell o_e_l_e_o

Quote from: joniboini on November 01, 2024, 02:07:14 AM

That's true. To be fair I do think it's fine if Chips or other casino add new features or open new markets for web3 users as long as they don't move all of their games over there. I believe I'm not alone in this. Some people are also not comfortable with web3 dapps due to their experiences, and I doubt the number is small. Maybe things will change with reputation and verifiable contracts, but the beginning would probably take some time to take off, especially for new casinos.

If you are a third party team, and partner with other projects to list their products, games on your platform for your users to play, it's fine. You don't spend resources from finance to human for building these things, but of course a little bit effort for technical deployments.

In contrast, projects that raised $M in fund and used it for platform, product buildings, then investors, gamers joined with massive more $M money, but at the end a ridiculous fact is shocked, their market cap now is smaller than all budget they spent for their platforms and projects. No other word than serious failures for these projects, with lot of resources wasted there.

joniboini

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Quote from: tranthidung on October 31, 2024, 11:37:28 AM

Investors in those projects lost money, firstly here we only count in transaction fees, but they also have to pay money to buy NFTs, tokens and more items for playing, but at the end (not now but in 2021 or 2022 when GameFi, Metaverse projects started to plummet), market caps of projects are smaller than total transaction fees spent. It's very ridiculous.

That's true. To be fair I do think it's fine if Chips or other casino add new features or open new markets for web3 users as long as they don't move all of their games over there. I believe I'm not alone in this. Some people are also not comfortable with web3 dapps due to their experiences, and I doubt the number is small. Maybe things will change with reputation and verifiable contracts, but the beginning would probably take some time to take off, especially for new casinos.

tranthidung

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Farewell o_e_l_e_o

Quote from: joniboini on October 30, 2024, 11:35:45 PM

I have some bad experiences with smart contract products. Not to mention news about wallet drain, exploits, bugs, etc is still common nowadays. I'd need more than just benefits to try them out. For example, verifiable smart contracts, multiple mechanisms to prevent remote attacks/phishing, etc. If it was not planned from the beginning, they need to test them with extra steps to make sure they don't miss anything. CMIIW.

Smart contracts are smart in a way that they can exploit your wallet and get more transaction fees from you and your wallets.

A more complicated a contract is, a more transaction fee you will have to pay, it's smart, and very efficiently for altcoin blockchain developers to get more money from their blockchain users. You interact more with their smart contracts, you pay more fees, they will get richer, you will get poorer.

Another example is from GameFi, Metaverse projects in the last bull run, in 2020 and 2021, many projects have total transaction fees from their users are bigger than their project market caps. Does it sound crazy?

Investors in those projects lost money, firstly here we only count in transaction fees, but they also have to pay money to buy NFTs, tokens and more items for playing, but at the end (not now but in 2021 or 2022 when GameFi, Metaverse projects started to plummet), market caps of projects are smaller than total transaction fees spent. It's very ridiculous.

joniboini

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Quote from: Synchronice on October 30, 2024, 05:05:43 AM

That wouldn't change the way of registration but some changes would happen. There are some benefits that Web3 brings on the table.

What kind of benefits are you referring to here? Wouldn't adding this require Chips to deploy and manage a smart contract too?

I have some bad experiences with smart contract products. Not to mention news about wallet drain, exploits, bugs, etc is still common nowadays. I'd need more than just benefits to try them out. For example, verifiable smart contracts, multiple mechanisms to prevent remote attacks/phishing, etc. If it was not planned from the beginning, they need to test them with extra steps to make sure they don't miss anything. CMIIW.

Synchronice

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Quote from: joniboini on October 29, 2024, 11:57:45 PM

Do you mean you want to use your web3 wallet to log in and play games? Wouldn't that change the way registration and account management for them though? Not to mention setting up smart contracts etc. If it's about deposit etc I don't think it would change much other than saving you a few clicks from copying your deposit address.

Yes, that's what I mean. That wouldn't change the way of registration but some changes would happen. There are some benefits that Web3 brings on the table. Anyway, I like Chips the way it is. I especially like the ability of creating challenges on Chips, that's something that I haven't seen before in other casinos and that's a very nice product/feature.

Quote from: joniboini on October 29, 2024, 11:57:45 PM

Quote from: Synchronice on October 29, 2024, 04:33:03 PM

so this is a nice bonus for Metawin.

Maybe you meant Chips?

Yes, it was a typo. When I was writing about Chips.gg and Web3, I was checking Metawin at the same time, that's where I got the idea of Web3 wallet because I liked the benefits of it.
By the way, I was also comparing rates of Moonpay (Metawin's partner) and Swapped (Chips.gg's partner) and definitely Chips.gg's partner Swapped.com offers best rates for those who want to buy via card or other payment methods.

Topic: Chips.gg |🎰 1000+ Slots |🎤 Live Casino |🎲 1% House Edge Dice |🏦 The Vault - page 6. (Read 25434 times)