Topic: FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest - page 1195. (Read 559567 times)

Looking at expected value misses the whole point of gambling. Some people win, some people lose, and the expected value is just what the average should statistically work out at.

Expected loss is enormous in the wagering competition!

The issue I and probably quite a few others have with investing here though is that it's not multisigged or anything.
Wetsuit has contorl over several hundred btc in user balances and (according to the website) he's sotring it in one trezor.... I wouldn't say that was a particularly safew way to go if you ask me.

^^ This whole point underlines a large part of why is crypto used.    Without our strange global central bank system fixing rates so low when really the natural layout would have most western world rates at about 5%, crypto would be far less popular otherwise and people would just leave cash in the bank.  
As it is its quite certain people will lose money to inflation even after interest rates, its true in USA, EU, UK and certainly I think Japanese YEN has horrible problems with its currency value longer term.  Of course over night they might beat crypto for some stability but otherwise they are doomed to lose value until each government can repay debts properly, unwind QE programs and put interest rates above inflation.    I forget the figure but USA pays billions more in debt interest on their 21 trillion owed every time rates go up, so you know the people who hold dollar are the weakest link, will lose money out their pocket just sitting there over years.
  
Sorry for the long take but thats why crypto is used more, thats why some really dont mind some holding.  Obviously is not good to hold all in crypto but imo thats why the price for BTC has been buoyant this last couple years even with the fall (its a global effect).  In places like Vietnam or a few mentioned in news as failing economies, crypto makes even more sense and that 4% is great I think for them.    

That's the crux of the matter. You also need to factor in the currency risk which drives inflation. It is easy to find a country paying 10% but if you converted USD then you would find that countries currency had devalued by more than 10% in a year. So you can't really make a direct comparison of 4% on BTC against an interest rate on another currency.

Yes, some accounts have 3% interest, but we have to pay taxes on interests earned. The 1% account is tax free and more widely used.

@Broken, a few pages ago you were literally saying that you were stupid enough not to be able to fight a legal battle in case anyone searches into where your incomre from referrals go. You were then stupid to just clearly not care about it and went back to niavely sharing that same referral link.

@Chris, some governments have schemes to pay your back what you're owed from the bank should the bank go bust, also, where are you from 1% is really low? Ours offers 3% and I did the maths and worked out that if I leave my money in my account, due to inflation, it actually reduces more in value per year than it gains in interest !

You're right. However the last part of your sentence wasn't necessary. I clearly understand now why people is ignoring you and I will do the same from now.

Neither.  Those that make money dont trade and they dont gamble.  Instead they take other people's money.  So if you want to make anything with the least amount of risk,  do exactly what Wetsuit is doing and convince others to send you their BTC free of charge.  The old saying of "Money flows from the stupid to the smart" definitely applies to your question and it's clear which group you belong to.

"Secure" wasn't the best word to describe my idea. Of course freebitco.in doesn't have any guarantee about the money you give them (I'm not sure whether a bank has more security - if they're broken, they won't give your money back as well - but that's not the debate).
Question is, with a certain amount of btc you can play with (i.e. afford to lose), which is the best way to make them grow? A fixed interest rate, like freebitco.in offers, or trading/betting? There's less risk losing your money with the interest than with trading/gambling (excluding the risk that the website runs away with the money, risk shared with trading platforms and betting sites).

There is ZERO security with freebitco.  If you dump your BTC there,  you are LESS secure than storing your USD at a bank because there is NO insurance coverage.  Period.  A bank is less likely to just up and walk away with your USD for no reason at all than freebitco is to just up and walk away.  Why?  Because there are no consequences.  Wetsuit could take all your shit today and there isnt a damn thing you could do about it.  Thats not security.  Thats gambling.  And you didnt even have to roll any virtual dice to do it.  All you had to do was make a BTC transaction.



You cant compare a decentralized network with a centralized entity (such as freebitco).  They are fundamentally different.  And BTC is no more secure against bots than freebitco is.  An example is last Nov when BCash supporter Roger Ver spammed the fuck out of the BTC network for 3 months.... straight.  Causing fees to skyrocket.  The same thing happens with freebitco (or at least thats what they want you to think,  which I completely believe is just smoke and mirrors excuses).  The only difference is that instead of fees going up,  the base rewards are lowered.

Besides,  your plan is flawed.  I can code a bot to be just as inconsistent as a human.  It's as simple as rand(1,5);  which would not process a function unless the random number it selected was X which is a 20% chance.  It can be scaled from 100% to as little % as you want in order to mimic a human's inconsistency.  Like I've said before,  the fight against bots is FUTILE.  They will NEVER win that battle.  Ever.  The ONLY way to win is to do exactly what I've been saying all along....................................  Remove whatever feature it is that the bots are interested in.  It's that simple.  Problem solved.  I dont give two shits about the faucet because it's completely pointless.  There is no point in making 25sats/hr or whatever.  Even if it's via bot unless you're in a 3rd world country where $1 will last you an entire year.  This is why I dont believe for a second that this place even HAS a bot problem to begin with.  It's all just smoke and mirrors in order to have an excuse to milk you clowns of even more.  Their problems are related to MULTIPLE ACCOUNTS.  Not bot use.  Mutliple accounts are not a bot problem.  Thats a problem with the site itself.  Just because bots create the multiple accounts doesnt mean they have a bot problem.  It just means that the site is coded by an imbecile who cant do the most basic of security functions which is to prevent people/bots from spamming/abusing a feature it has.  IDK whats so hard to understand about that.  And if they REALLY wanted to stop multiple accounts,  that could be done with KYC,  2FA, voice verification,  Network UUID (the best idea, and most commonly used,  ask me about it some day), or a multitude of other methods available.  But,  they dont.  So we know that their multiple account issue isnt really all that big of a deal like they want you to think it is.

After reading the past comments I have an impression that the problem of faucet abusing by bots has not been completely solved. If it is so and if the site is still losing significant amounts because of that, maybe it would be a good idea to announce a competition for the best protection against bots. Since abusers can adjust quickly, the idea of protection have to be so good that even revealing its algorithm would not help a bit in breaking it. We all know that it’s possible, right? Satoshi Nakamoto has provided us with an example.

The first thing that comes to mind is taking advantage of the fact that all humans are different in all aspects while the bots are the same at some. Thus, after a certain amount of claims you can know almost for sure whether an account is being run by a bot or not. … Well, of course I know that most likely it’s not that simple. But I’m sure there are people much knowledgeable than me and that they can propose some really great ideas.

Those 4% interest rate are secure however, you don't have to trade or bet any coin to get your interests every day. It's by far more interesting than bank accounts (at least in my country) that offer 1% per year with limited amount.

What if they split the amounts over several different accounts? What is the difference between you paying out 40 BTC for one

account and paying it out for 1000 accounts? There are many old timers with a lot of coins, but I figure they will have better

methods to increase those coins, than dumping it on a site with a 4% interest rate.    That said, people do the strangest

things when it comes to money. (Greed clouds people's judgement)

I think we can set a requirement about minimum balance to join
Or split to many classes: under 100k sats, under 500k sat,... for example

If we're including free rolls I'll withdraw my funds now and get an infinite percentage!

But that's not a bad idea though (unless people find a trick to do with the bonus on the multiply thing or just bet with tiny amounts, doubling a sat isn't as interesting as doubling a bitcoin).

Guys, can we create our own contest here?
"Find the one have max percent increase the balance in one week!"

I hate recaptcha so much. It's okay for the first few times but if you do let's say more than 5 a day, they start giving you squiggles that are impossible to read. Definitely prefer picking boxes even if it ends up refreshing for wrong answers every time. I get so frustrated trying to figure out squiggly text that looks like nothing. Worse is using the audio. Sounds like garble garbage that doesn't sound like anything ever.

So STT yeah, looks like we both have artificial intelligence!

Thats makes me more stupid then a computer then because I'm damned if I can figure out the answer maybe as much as half the time.    Theres usually two sets of letters and no sure way to know which they wanted you to pay attention to, fine if one is more distinct but it always that way


Yea that figures, a bit like the search engine and they are grabbing random photos to stay ahead of the people trying to defeat the system I guess

recaptcha with the current image is more effective than the use of text that was used before because there is already a website that can hack recaptcha in the form of text and if this is combined with other applications in the form of bots then this will hurt us all. so when I am a manual user I would suggest recaptcha images on freebitco.in