FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest - page 788.

Yogee

sr. member

Activity: 1554

Merit: 413

Quote from: GhostStories on March 09, 2021, 06:57:46 AM

Hey, are there any plans to add LN deposits and withdrawals on the site? Its getting expensive to move btc.
If so, Is there an ETA?

I'm not sure if there is any interest since I only saw "lightning network" mentioned twice in this thread when I searched and those were back in 2018. It looks like they do not even plan to support segwit.

The fees are quite low now by the way so you may want to take advantage of that. The high priority right now according to mempool.space is 20 sats/vb.

freebitco.in PR

copper member

Activity: 1485

Merit: 23

freebitco.in Official PR Account

We Need a New Logo for FUN Token!

Would you like to shape the future of FUN Token? Here's your chance to do so!

LAUNCHING... A LOGO DESIGN CONTEST

Come up with logo designs for FUN that will represent the best the token has to offer!

Here are the prizes for designing the winning logo:

1. 50,000 FUN
2. 25,000 FUN
3. 15,000 FUN

So, are you ready?

Be creative. Be original. Be innovative. Send in your designs to [email protected]

5 entries will be shortlisted for a final vote by FreeBitco.in Premium Members.

Deadline: Friday, 19th March, 12:00 UTC

GhostStories

newbie

Activity: 28

Merit: 0

Hey, are there any plans to add LN deposits and withdrawals on the site? Its getting expensive to move btc.
If so, Is there an ETA?

uneng

hero member

Activity: 2044

Merit: 784

Leading Crypto Sports Betting & Casino Platform

Quote from: soslex on March 08, 2021, 07:08:05 PM

Quote from: RealMalatesta on March 08, 2021, 12:58:10 PM

They "might" make profit from the interest as well, you are leaving your money in there and that is an incentive, and the more money stays there would mean they could use that for more profits, they could use it for something, could be mining, could be something else, I don't know how because if I did, I would offer the same and get people to invest to me, but I can't, hence I do not think that I can give you the answers but I think they could still profit from it.

They tell you what they do with the bitcoin you store there on the FAQ page of the EARN tab. I'm not sure how accurate all the information is because it hasn't been updated in a while and I remember TheQuin saying a few pages back that it is a little outdated but it at least gives you some idea of what is happening behind the scenes:

"How do you make money to pay us interest?

When you hold money in your FreeBitco.in account, we split it into 3 parts - the first part is used to cover user withdrawals, the second part is used to bankroll our MULTIPLY BTC game and the third part is used to expand our bitcoin mining operation (which is currently 9.065Petahashes or 0.007% of the total hashpower of the bitcoin network). We make a profit and assume the full risks of our businesses and in return for you saving your money with us, we give you a risk-free fixed rate of return."

Yes, they have extra activities to earn revenue from besides gambling dice game. It seems Freebitco.in made good choices along the years and were very benefited by bitcoin pumps, being around since 2013, as @hd49728 said above. Freebitco.in also claims they can reduce the interest rate at any moment if they feel it's necessary for some reason.
So far they have been a very transparent company, alive for a long time already and never promising unrealistic rewards to their users. I feel more confident on them because of this.

hd49728

legendary

Activity: 2044

Merit: 1018

Not your keys, not your coins!

Quote from: RealMalatesta on March 08, 2021, 12:58:10 PM

They "might" make profit from the interest as well, you are leaving your money in there and that is an incentive, and the more money stays there would mean they could use that for more profits, they could use it for something, could be mining, could be something else, I don't know how because if I did, I would offer the same and get people to invest to me, but I can't, hence I do not think that I can give you the answers but I think they could still profit from it.

Same goes for FUN tokens, they could offer more stuff, better HE, better interest rate whatever and they could still profit from it. All I wanted to say is that it could be a "loss" because there are costs for the casino, not that I believe it is a loss for them, it is definitely a profit, and I think you are right that they wouldn't do something that doesn't profit them, I just wanted to say it must be profiting them something.

You are correct that gambling sites or exchanges give investment pool, services to bring win-win situations for their companies and customers. Customers must know what they are doing with their money: choose a good company with high trust and good reputation to use, to store money, to invest.

FreeBitco.in is a trusted gambling site and it has been in the online gambling industry for many years, almost 1 decade: since October 2013.

Customers have to have own investment schedule and have a saving or preventive capital for urgent use in lives. I never recommend anyone to use all life saving or make big loan to invest in crypto or in anything. It is gamble with their lives.

FunFair token: https://coinmarketcap.com/currencies/funfair/markets/

soslex

member

Activity: 110

Merit: 33

Quote from: RealMalatesta on March 08, 2021, 12:58:10 PM

They "might" make profit from the interest as well, you are leaving your money in there and that is an incentive, and the more money stays there would mean they could use that for more profits, they could use it for something, could be mining, could be something else, I don't know how because if I did, I would offer the same and get people to invest to me, but I can't, hence I do not think that I can give you the answers but I think they could still profit from it.

They tell you what they do with the bitcoin you store there on the FAQ page of the EARN tab. I'm not sure how accurate all the information is because it hasn't been updated in a while and I remember TheQuin saying a few pages back that it is a little outdated but it at least gives you some idea of what is happening behind the scenes:

"How do you make money to pay us interest?

When you hold money in your FreeBitco.in account, we split it into 3 parts - the first part is used to cover user withdrawals, the second part is used to bankroll our MULTIPLY BTC game and the third part is used to expand our bitcoin mining operation (which is currently 9.065Petahashes or 0.007% of the total hashpower of the bitcoin network). We make a profit and assume the full risks of our businesses and in return for you saving your money with us, we give you a risk-free fixed rate of return."

RealMalatesta

legendary

Activity: 2380

Merit: 1150

Quote from: jaysabi on March 07, 2021, 06:24:29 PM

-snip-

They "might" make profit from the interest as well, you are leaving your money in there and that is an incentive, and the more money stays there would mean they could use that for more profits, they could use it for something, could be mining, could be something else, I don't know how because if I did, I would offer the same and get people to invest to me, but I can't, hence I do not think that I can give you the answers but I think they could still profit from it.

Same goes for FUN tokens, they could offer more stuff, better HE, better interest rate whatever and they could still profit from it. All I wanted to say is that it could be a "loss" because there are costs for the casino, not that I believe it is a loss for them, it is definitely a profit, and I think you are right that they wouldn't do something that doesn't profit them, I just wanted to say it must be profiting them something.

Saint-loup

legendary

Activity: 2604

Merit: 2353

Quote from: jaysabi on March 07, 2021, 06:24:29 PM

Yes, this is exactly where I was going with my point about the program has to generate more revenue than costs otherwise the benefits are going to be scaled back. Look at the interest the site pays as an example. The site pays interest on deposits because it generates loyalty and keeps people playing on the site. Paying interest is a loss leader, the site doesn't make a profit on paying interest, it relies entirely on the goodwill it builds to drive gambling activity which is how the site actually makes money. If paying interest was costing more than the revenue the site generates from gambling, it would have to scale down the interest or discontinue it because it wouldn't make business sense to pay it. That's my same point with the FUN program. If the program doesn't generate extra revenue enough to offset the new added costs of running the program, then the benefits have to be scaled back to prevent the site from losing money on it, and if the benefits are scaled back, that increases the breakeven point for anyone who bought tokens and is trying to calculate when that decision makes financial sense for them (if ever).

I'm glad to see you've changed your mind and you're not endorsing anymore the calculations you made above. According to you now, the current terms of the program could favor the users and could represent a kind of give away from Freebitcoin. That's a great news. I hope you've bought a decent amount of FUN tokens to take advantage of this great opportunity

freebitco.in PR

copper member

Activity: 1485

Merit: 23

freebitco.in Official PR Account

Collect as many tickets as you can by wagering and free spins to increase your chance of winning up to $7,500 in BTC on the coming Sunday.

Congratulations to the 10 Lucky Winners of Lottery Round 301.

slaman29

legendary

Activity: 2674

Merit: 1226

Livecasino, 20% cashback, no fuss payouts.

Quote from: STT on March 07, 2021, 04:01:02 PM

Sounds like over simplification, we dont have all the facts available as its not a public company but any business is about maximising revenue efficiently. The added cost discussed is relative to revenue but also cost of capital, its not a free benefit but via holding a token at cost and with some risk in the market extending out to a year to get full benefits. Tons of money in crypto is short term speculative, leveraged over night even 'hot money' is very common, hence why price can half surprisingly often despite long term gains over most of crypto. My take is the strategy generally makes sense and I feel lucky holding some Fun as I won another 4000 rp today, overall I dont expect my holding tokens to cost me anything maybe I come out flat or quite probably I gain some benefits net; obviously its all at capital risk its really not free.

I think almost every attempt to count profits of the site here has been oversimplified. Same as most of the TA in altcoin sections. I'm not an expert myself but I do know that token economics takes a lot of thought and it's really not as easy as most people make it out to be.

Also, what we're seeing now is really tight data in small timeframes. It's going to be a long time to come before we see the effects of utility overcome speculation for FUN.

HeitorMessias

member

Activity: 222

Merit: 33

"Non est ad astra mollis e terris via" Seneca _

Hi for all, I would like to make a suggestion, in the future in the BETs Football session add Brazilian and continental American football games. the Brazilian championship starts in April approximately. 7 of the 10 biggest soccerclub fans in the world are from nations like Brazil, Argentina and Mexico, the liberadores da america championship will have its next edition in 2022.

jaysabi

legendary

Activity: 2044

Merit: 1115

Quote from: Poker Player on March 07, 2021, 12:10:00 PM

Quote from: RealMalatesta on March 07, 2021, 10:42:57 AM

Quote from: jaysabi on March 07, 2021, 01:48:38 AM

-snip

I partially agree with jaysabi. As I said a few pages ago, I think the rewards program seeks to build customer loyalty. It is clear that the casino has to cover the expenses and make a profit, otherwise it has to close. For me, what FB does with the program is to reduce its HE with certain users who hold a certain amount of tokens, but this reduction is compensated precisely by the tokens and loyalty.

Yes, this is exactly where I was going with my point about the program has to generate more revenue than costs otherwise the benefits are going to be scaled back. Look at the interest the site pays as an example. The site pays interest on deposits because it generates loyalty and keeps people playing on the site. Paying interest is a loss leader, the site doesn't make a profit on paying interest, it relies entirely on the goodwill it builds to drive gambling activity which is how the site actually makes money. If paying interest was costing more than the revenue the site generates from gambling, it would have to scale down the interest or discontinue it because it wouldn't make business sense to pay it. That's my same point with the FUN program. If the program doesn't generate extra revenue enough to offset the new added costs of running the program, then the benefits have to be scaled back to prevent the site from losing money on it, and if the benefits are scaled back, that increases the breakeven point for anyone who bought tokens and is trying to calculate when that decision makes financial sense for them (if ever).

STT

legendary

Activity: 4102

Merit: 1454

Sounds like over simplification, we dont have all the facts available as its not a public company but any business is about maximising revenue efficiently. The added cost discussed is relative to revenue but also cost of capital, its not a free benefit but via holding a token at cost and with some risk in the market extending out to a year to get full benefits. Tons of money in crypto is short term speculative, leveraged over night even 'hot money' is very common, hence why price can half surprisingly often despite long term gains over most of crypto. My take is the strategy generally makes sense and I feel lucky holding some Fun as I won another 4000 rp today, overall I dont expect my holding tokens to cost me anything maybe I come out flat or quite probably I gain some benefits net; obviously its all at capital risk its really not free.

Poker Player

legendary

Activity: 1372

Merit: 2017

Quote from: RealMalatesta on March 07, 2021, 10:42:57 AM

Quote from: jaysabi on March 07, 2021, 01:48:38 AM

-snip

I partially agree with jaysabi. As I said a few pages ago, I think the rewards program seeks to build customer loyalty. It is clear that the casino has to cover the expenses and make a profit, otherwise it has to close. For me, what FB does with the program is to reduce its HE with certain users who hold a certain amount of tokens, but this reduction is compensated precisely by the tokens and loyalty.

RealMalatesta

legendary

Activity: 2380

Merit: 1150

Quote from: jaysabi on March 07, 2021, 01:48:38 AM

I'll re-state it since you're having trouble comprehending. The site is adding operating costs by giving away perks related to FUN that it wasn't doing before. There are perks people earn for holding FUN, regardless of if they're gambling. The only way that makes sense is if FUN is going to bring in more gambling revenue than the costs of people who earn the perks without gambling. I mean, it's a simple concept. Not sure why you're struggling with it.

People I think do not understand that casinos could technically make a "loss" in the sense that if gamblers lose 10k dollars per month on a casino but the operating costs (hosting, staff, developers, etc etc) is above 10k, that means casino is making a loss, not all losses are related to gambling, there are certain costs of a casino that is given every week, think of it like electricity bill of the offices, that has to come in every single month right?

There is no avoiding that, if you do not pay it that means your electricity will be cut and you won't even have connection, hence why it is obvious that there is always costs of it. This means gamblers will always lose in the long run because of house edge, but casino could lose as well if gamblers do not cover the operative costs of a place, not that freebitco.in is in any danger because last they said they were making enough to cover all costs for a while.

jaysabi

legendary

Activity: 2044

Merit: 1115

Quote from: Saint-loup on March 07, 2021, 02:27:56 AM

Quote from: jaysabi on March 07, 2021, 01:48:38 AM

I'll re-state it since you're having trouble comprehending. The site is adding operating costs by giving away perks related to FUN that it wasn't doing before. There are perks people earn for holding FUN, regardless of if they're gambling. The only way that makes sense is if FUN is going to bring in more gambling revenue than the costs of people who earn the perks without gambling. I mean, it's a simple concept. Not sure why you're struggling with it.

It's not a simple concept jaysabi because you tried to prove above that will be a losing investment for players and for investors. If the 2 categories are going to lose money, there won't be any "cost" to cover for the house but only a net profit...
If I give you 1000$ and you give me back 600$ you won't have to chase a new income to refund me.
Moreover I don't understand why it would be a so called risk factor to offer more gambling.

God, I know it's not simple for you, you've made that abundantly clear. You keep arriving at conclusions I didn't argue for, so that's on you for your inability to understand. You're conflating two different perspectives, one about how the program operates for the site and the other how it operates for people who hold FUN. These are two different things but you keep trying to jam them together and you're confusing yourself. More troubling, you apparently can't understand how the FUN program increases operating costs for the site, and that's by far the simplest idea I've even brought up. If you can't understand that, there's absolutely no upside to continue to engage with you because it's just going to be you continually not understanding my two different points and arguing against them because you don't understand them. Let's just agree to stop here.

Saint-loup

legendary

Activity: 2604

Merit: 2353

Quote from: jaysabi on March 07, 2021, 01:48:38 AM

I'll re-state it since you're having trouble comprehending. The site is adding operating costs by giving away perks related to FUN that it wasn't doing before. There are perks people earn for holding FUN, regardless of if they're gambling. The only way that makes sense is if FUN is going to bring in more gambling revenue than the costs of people who earn the perks without gambling. I mean, it's a simple concept. Not sure why you're struggling with it.

It's not a simple concept jaysabi because you tried to prove above that will be a losing investment for players and for investors. If the 2 categories are going to lose money, there won't be any "cost" to cover for the house but only a net profit...
If I give you 1000$ and you give me back 600$ you won't have to chase a new income to refund me.
Moreover I don't understand why it would be a so called risk factor to offer more gambling.

jaysabi

legendary

Activity: 2044

Merit: 1115

Quote from: Saint-loup on March 06, 2021, 04:47:04 PM

Quote from: jaysabi on March 06, 2021, 03:20:33 PM

Yeah, since gambling is a net loss statistically, you wouldn't include that in a break even calculation.

LOL only losers say that Cheesy

But I don't understand why you are promoting a gambling site and posting in the gambling section if you think this way? Huh

If you were a regular gambler you would know that in addition of your winnings you're increasing your free claim rate until 80sats by claim, and earning RP points and lottery tickets when you gamble on freebitcoin.
And now, above that you'll earn a cashback on all your gambles in less than 10 days now.

Quote from: jaysabi on March 06, 2021, 03:20:33 PM

Another thing to consider, since this is going to add costs to the operating expenses of the site, this program has to significantly boost gambling income for this program to remain unchanged because it generates a profit for the site, which is another risk factor you have to consider.

That's exactly the opposite of what you tried to prove above. You asserted above that will be a net loss for "investors" and players and now you're stating it will represent a loss for the house, sorry but that doesn't make sense... Undecided

I'll re-state it since you're having trouble comprehending. The site is adding operating costs by giving away perks related to FUN that it wasn't doing before. There are perks people earn for holding FUN, regardless of if they're gambling. The only way that makes sense is if FUN is going to bring in more gambling revenue than the costs of people who earn the perks without gambling. I mean, it's a simple concept. Not sure why you're struggling with it.

uneng

hero member

Activity: 2044

Merit: 784

Leading Crypto Sports Betting & Casino Platform

Quote from: jaysabi on March 06, 2021, 10:10:53 AM

I like that you're accounting for lost interest income and needing to make that up. But you can take in WOF rewards into your consideration because someone published the prize table here, so statistically speaking we can come up with I feel a pretty good ballpark figure related to owning FUN. I'll try to find some time to run the numbers and post here for review. I need to find that prize chart that's buried a ton of pages back.

Yes, it seems your post below is the key for finding out if the investment is worthful or not for each investor based on his btc balance. In my calculation I ignored the first year, but good that you counted the *losses* for not having the full bonus (25%) during the investment first's 12 months.

Quote from: jaysabi on March 06, 2021, 03:20:33 PM

Examples of interest lost and gained at 2 and 3 btc onsite:

Years Int. Lost Interest Gained on 2 btc Interest Gained on 3 btc
1.083 .0143 (Some) (Some)
2.083 .0276 .0221 + some .0331 + some
3.083 .0409 .0424 + some .0637 + some
4.083 .0541 .0629 + some .0943 + some

Besides this profit you also have 5840 chances yearly (starting to count after the first year, 365 x 16) to hit something good at the WOF.
I believe someone won't hit the minimum prize every roll, so it may boost your earnings.

Saint-loup

legendary

Activity: 2604

Merit: 2353

Quote from: jaysabi on March 06, 2021, 03:20:33 PM

Yeah, since gambling is a net loss statistically, you wouldn't include that in a break even calculation.

LOL only losers say that Cheesy

But I don't understand why you are promoting a gambling site and posting in the gambling section if you think this way? Huh

If you were a regular gambler you would know that in addition of your winnings you're increasing your free claim rate until 80sats by claim, and earning RP points and lottery tickets when you gamble on freebitcoin.
And now, above that you'll earn a cashback on all your gambles in less than 10 days now.

Quote from: jaysabi on March 06, 2021, 03:20:33 PM

Another thing to consider, since this is going to add costs to the operating expenses of the site, this program has to significantly boost gambling income for this program to remain unchanged because it generates a profit for the site, which is another risk factor you have to consider.

That's exactly the opposite of what you tried to prove above. You asserted above that will be a net loss for "investors" and players and now you're stating it will represent a loss for the house, sorry but that doesn't make sense... Undecided

Topic: FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest - page 788. (Read 565644 times)