Does anyone noticed huge losses on freebitcoin multiplier?
Dam I’m not able to win significant amount since yesterday. Is it associated with current bitcoin drop and revenue generation of freebitcoin. Even for the multiplier of 1.01 I lost the bets in row. I’m sure I’m not that unlucky to loose on such least multiplier. It’s really funny since yesterdays. Anyone is getting similar experience.
I understand they have to be in business but everything is getting nuts. Balance is zero now, lolz. No more wagers for me until sites stable.
The most common reason for "losing" multiple 1.01x bets in a row is to wager less than 100 sats meaning your winnings get rounded down to zero sats. If you look at your balances on your roll history you'll see that your balance didn't change after each roll.
Is anybody ever concerned about freebitcoins liquidity and financial situation in a bear market?
I want to preface this by saying I've used freebitcoin for YEARS and never, ever had a problem with them. I've made a substantial amount from referrals and a very nice amount from interest.
However, given the events that are currently unfolding at Celsius (withdrawals paused, insolvency, possibly bankruptcy), does anybody ever wonder how a severe bear market will affect freebitcoins financial situation?
Although unlikely, we might see Bitcoin drop below 10k in the coming months, how would this effect freebitcoins ability to pay it's user. In my head, I think their situation is different, but they also offer 4.08% interest on users balance, not a huge number but certainly not the miserable 1% a commercial bank would give you.
I've had similar thoughts as you over the past few days, but ultimately came to the conclusion that FreeBitcoin would *probably* be fine. If I were to guess, their main revenue stream is from operating casino(s), which traditional CeFi doesn't have. Thus, a lot of their profits depend on how much is wagered, and if you look at the historical data on sites on
like bustabit, the total wagered amount in BTC remains fairly stable through bear markets. Their revenues being in BTC would make it easier to pay interest on BTC.
FUN token also looks to be doing fairly decent.
(disclamer: this is not financial advice)
The reason that price drops don't affect our liquidity is that the interest we pay is in the same currency. We paid 0.117 BTC in interest yesterday and it doesn't make any difference to us if that's at $20k or $40k because the income is also in BTC. eg if a customer wants to spend $100 buying BTC to gamble with they are going to have twice as much BTC to gamble with now.
