I have an idea about betting on bitcoin

DarkDays

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Quote from: DarkDays on July 17, 2020, 07:11:38 PM

These types of things already exist, they are known as prediction markets. They are similar to gambling.

There is also a website that allows people set a public bet, and people can arbitrarily bet for or against it. e.g. Bitcoin will be under $500 by January 01, 2021. It also covers practically any other bet, since the users are actually the ones that set the markets.

Forgot what the website name is though.

Whoever manages to find it and posts it will get 1 merit. (PM me so I see it).

Following up with this, I managed to remember the site, it's called predictious;

https://www.predictious.com/

I've never used it, but it basically describes the feature that OP mentioned.

There's a few interesting bets on there though, and there are bets in five categories:

Sports
Politics
Economics
Entertainment
Science & Tech

I'm not a fan of how the system works though, so won't be trying it myself.

michellee

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Quote from: shoreno on July 14, 2020, 12:38:21 AM

he wont tell you because he is afraid that you will also earn too and you will pass this strategy to someone else . he shouldnt act selfish if he is really a true friend . forget about his strat , you can still learn on your own way .

I hope, at least, he will tell something about that, no need to explain more details, but maybe about the key that is important for me. If he can say something, hm, I think I can search for more about that thing. And I can modify it with my analysis, and I think that can give me more chances to make a profit.

Quote from: Saint-loup on July 16, 2020, 01:03:24 PM

I'm not sure you have to work hard and to learn hard to earn much money in trading. Sometimes simple and basic strategies pay handsomely.
Are you a swing trader or a day trader FMI?

No, it still needs to work hard to learn in trading, so I can have the chance to make money. I am not both of trader that you mean, I am only trying to make money from trading, and I know that I need to learn more about trading. So far, my profit is not too stable as other people because I don't have a high-skill in trading, but I am satisfied, and I am willing to learn more.

DarkDays

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These types of things already exist, they are known as prediction markets. They are similar to gambling.

There is also a website that allows people set a public bet, and people can arbitrarily bet for or against it. e.g. Bitcoin will be under $500 by January 01, 2021. It also covers practically any other bet, since the users are actually the ones that set the markets.

Forgot what the website name is though.

Whoever manages to find it and posts it will get 1 merit. (PM me so I see it).

johhnyUA

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Quote from: BlackHatCoiner on July 05, 2020, 02:19:47 PM

I have an idea. I will not implement it, I don't know if already it exists, but I would like to post it. Tell me, if it would be dumb.

These days, there are many online casinos with games like poker. I wonder, how would a betting price site would be?

Like betting 0.01BTC on the price of bitcoin. If, I've bet that by tomorrow it will have pass 10,000$ I would get the analogous amount of BTC
If the price wouldn't, I would have simply lost my funds. There is a difference with poker here, tho. Central authorities, cannot control it. So the man that has the site, may bankrupt. On the other hand, I think we can admit that online poker (especially with real money) is never on pure luck of the cards.

Weird post and topic. Weird OP. For honest, i didn't understand what you're talking about. And as i see, many people in thread can't understand you also. Just some kind of verbosity, nothing more.

And yeah, stop this, poker it's not a game about just "a luck". Even betting depending more on luck than poker.

MCobian

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Betting on the price of Bitcoin is nothing new in the gambling world, I also like gambling like this. And I used to play at Freebitco.in,
but that does not mean that winners will get the same amount as the amount when bet. So it's still betting on the price of Bitcoin
very risky, because no one can guess with certainty where the price of Bitcoin goes. Regarding poker games disagree as mentioned
game of luck, because we must know the knowledge of how to arrange cards. So poker games are indeed more complicated.

Savemore

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Quote from: Ryker1 on July 09, 2020, 01:24:38 PM

Quote from: leea-1334 on July 08, 2020, 04:45:16 AM

Quote from: BlackHatCoiner on July 05, 2020, 02:19:47 PM

[snip]

But you also have manipulation on poker sites. For one, you need to trust the software and provably fair mechanism. How do you know the casino does not have behind the scenes an algorithm that gives you a bad hand, or draws cards based on player opening hands?

And then you have bots to fight against,,, poker software is very bad at that because they do not care if you win or lose, they only get rakes!

Well, I have been playing poker for months and as far as I know, there is an easy way to verify the fairness of the game. Before you will sit on the virtual poker table, --you can easily check the provably fair algorithm and how this mechanism works. It is simply because you can receive a sever seed and client seed before the game start. Players should have complete control over checking verification fairness because fairness on the gambling sites you have chosen is the key to the gamblers will stick around for a longer time and nobody would ever doubt the fairness of their operations ever.

Fairness is really important so many gamblers like me are also verifying if a certain online gambling websites or casinos are implementing fairness in every player. In terms of playing poker of course everybody wants to be fair, if there is no fairness many gamblers for sure will transfer in another gambling site. A fair mechanism in poker will encourage many gamblers to play more because they are aware that they have rights on it.

Saint-loup

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Quote from: michellee on July 09, 2020, 09:35:50 PM

Quote from: Saint-loup on July 09, 2020, 01:41:55 PM

Quote from: michellee on July 08, 2020, 12:34:15 AM

Although you can say that it is safer, I would need to learn harder than you because I need more time to understand the article. Maybe later, if I think I have spare money, I will try to learn binary options, and I hope I don't need too long to know the lesson. Is the strategy really difficult to understand? If that is not too difficult, maybe that can bring me more profit if I can understand the lesson first.

The article is about classical options (aka vanilla options) not about binary ones. As I said above vanilla options are a little bit complicated to trade efficiently, but binary options aren't, they're just a little bit more sophisticated than a basic bet on the BTC price. When you bet you know exactly how much you will win or lose unlike trading, that's why it's more safe and simple for the money management. But I didn't say you would earn more money than with trading this way.

I see that. Later on, I think that if we do not stop learning, we will have the chance to get a better result. Maybe we will feel hard to learn, but as long as we don't stop for what we learn, in the end, we will get what we want. Earning more or not will depend on how hard we try.

I'm not sure you have to work hard and to learn hard to earn much money in trading. Sometimes simple and basic strategies pay handsomely.
Are you a swing trader or a day trader FMI?

Mauser

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Quote from: shoreno on July 14, 2020, 12:38:21 AM

i dont know if i already heard that before and i only forget it because i rarely see that term maybe because its really hard and not all traders use it . if what the op is saying will become true in the future we can apply this too for betting and expect a promising result .

Quote from: michellee on July 09, 2020, 09:35:50 PM

I think there will be a sign he will get, but he doesn't tell me about that. I think he learned well than me so he can trade with better, and he chooses trading as his way to make money, although he still has another way to make additional money. But I guess that if we still try to trade and learn more, we will have more experience and of course, our skills will also improve.

he wont tell you because he is afraid that you will also earn too and you will pass this strategy to someone else . he shouldnt act selfish if he is really a true friend . forget about his strat , you can still learn on your own way .

The thing about trading is the market reacts very fast and people making money constistantly most of the times just exploit the market in some form. If you look at trading strategies from the past, they were highly successfull for a limited number of people. But the more money people make of such anomalies the more traders are attracted and in the end such additional returns dimish due to competiviness again. So making your strategy public will just hurt your own returns in the long run. Better to keep quiet and make money as long as possible.

shoreno

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Quote from: finaleshot2016 on July 10, 2020, 08:11:03 AM

Actually there's an existing indicator that is used by some traders, are you familiar with RSI or relative strength index. It's a technical indicator that lets you analyze the market to determine its strength and weakness. Also, you need to be dedicated to trading, even a small percentage of growth, it should be treated as a big advantage for you. So technically, signs in trading do exist, it will help you to determine its flow for you to gain profit on each market change. But this kind of indicators is very hard to learn and master, only few people who've studied finance are good at trading.

i dont know if i already heard that before and i only forget it because i rarely see that term maybe because its really hard and not all traders use it . if what the op is saying will become true in the future we can apply this too for betting and expect a promising result .

Quote from: michellee on July 09, 2020, 09:35:50 PM

I think there will be a sign he will get, but he doesn't tell me about that. I think he learned well than me so he can trade with better, and he chooses trading as his way to make money, although he still has another way to make additional money. But I guess that if we still try to trade and learn more, we will have more experience and of course, our skills will also improve.

he wont tell you because he is afraid that you will also earn too and you will pass this strategy to someone else . he shouldnt act selfish if he is really a true friend . forget about his strat , you can still learn on your own way .

finaleshot2016

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Quote from: abel1337 on July 09, 2020, 12:54:39 PM

Quote from: jossiel on July 09, 2020, 12:13:49 PM

Quote from: michellee on July 09, 2020, 02:28:46 AM

Quote from: jossiel on July 08, 2020, 04:24:48 AM

Trading is difficult and so the prediction of what's going to be the next price of bitcoin within a certain period of time. A person that makes living out of it is very skillful because the risk is very high just so we know.

Both are difficult and skill is required. But the skill that you will have for trading and binary options are going to be different, while in the options you have to be quick thinker and be decisive with every single move you do.

I know one of my friends can make a living out of trading, and I already see that he can make a profit every day. Even if he can only make a small amount, the next day, he will make another big profit. I don't know how he can get the sign that can help him to make a profit because he never tells me.

That is why I think I can not learn fast about binary options. I feel that the trade is different than the trade that I usually did. The fast think and decisive will be needed, and I still figure out how to find the right method.

There's no sign, you ask him since he's your friend so that you will know if there's a sign or he's just a skilled person and became an expert because it's already part of his living. People who have dealt with their lives and chose to live with it, they thrive to make a living out of it.

At least if you trade, you can have an idea of how options work.

There will be a sign if you analyze it well. The chart never lies, Indicators is one of the keys of the trader for him to make a successful trade. Though skills are important and relying on trading purely to survive every day is a hard thing to do. Considering yourself that you always need to win because your financial status is on the line every time you trade. Your friend should be a really confident person.

Actually there's an existing indicator that is used by some traders, are you familiar with RSI or relative strength index. It's a technical indicator that lets you analyze the market to determine its strength and weakness. Also, you need to be dedicated to trading, even a small percentage of growth, it should be treated as a big advantage for you. So technically, signs in trading do exist, it will help you to determine its flow for you to gain profit on each market change. But this kind of indicators is very hard to learn and master, only few people who've studied finance are good at trading.

michellee

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Quote from: jossiel on July 09, 2020, 12:13:49 PM

Quote from: michellee on July 09, 2020, 02:28:46 AM

I know one of my friends can make a living out of trading, and I already see that he can make a profit every day. Even if he can only make a small amount, the next day, he will make another big profit. I don't know how he can get the sign that can help him to make a profit because he never tells me.

That is why I think I can not learn fast about binary options. I feel that the trade is different than the trade that I usually did. The fast think and decisive will be needed, and I still figure out how to find the right method.

There's no sign, you ask him since he's your friend so that you will know if there's a sign or he's just a skilled person and became an expert because it's already part of his living. People who have dealt with their lives and chose to live with it, they thrive to make a living out of it.

At least if you trade, you can have an idea of how options work.

I think there will be a sign he will get, but he doesn't tell me about that. I think he learned well than me so he can trade with better, and he chooses trading as his way to make money, although he still has another way to make additional money. But I guess that if we still try to trade and learn more, we will have more experience and of course, our skills will also improve.

Quote from: Saint-loup on July 09, 2020, 01:41:55 PM

Quote from: michellee on July 08, 2020, 12:34:15 AM

Although you can say that it is safer, I would need to learn harder than you because I need more time to understand the article. Maybe later, if I think I have spare money, I will try to learn binary options, and I hope I don't need too long to know the lesson. Is the strategy really difficult to understand? If that is not too difficult, maybe that can bring me more profit if I can understand the lesson first.

The article is about classical options (aka vanilla options) not about binary ones. As I said above vanilla options are a little bit complicated to trade efficiently, but binary options aren't, they're just a little bit more sophisticated than a basic bet on the BTC price. When you bet you know exactly how much you will win or lose unlike trading, that's why it's more safe and simple for the money management. But I didn't say you would earn more money than with trading this way.

I see that. Later on, I think that if we do not stop learning, we will have the chance to get a better result. Maybe we will feel hard to learn, but as long as we don't stop for what we learn, in the end, we will get what we want. Earning more or not will depend on how hard we try.

Saint-loup

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Quote from: michellee on July 08, 2020, 12:34:15 AM

Quote from: Saint-loup on July 07, 2020, 10:16:54 AM

Quote from: michellee on July 07, 2020, 04:32:51 AM

Quote from: Tipstar on July 07, 2020, 02:13:32 AM

It's called binary options.

If that is binary options, then I don't think that will be easy to predict the bitcoin move because I think the binary system will be more complicated than the usual exchange. We need to know about the indicator, and that will need some time to learn or master the lesson. I prefer to use the usual than risking the money using binary options. Binary options need more skills to make a profit, and not all trader can do that.

I don't think so, vanilla options are maybe a little bit complicated to trade efficiently https://cointelegraph.com/explained/bitcoin-options-explained
but binary options are trivial. Like betting they are even more safe and simple than basic trading because you know exactly how much you could lose and how much you could win. Then it's very useful for developing money management strategies.

Although you can say that it is safer, I would need to learn harder than you because I need more time to understand the article. Maybe later, if I think I have spare money, I will try to learn binary options, and I hope I don't need too long to know the lesson. Is the strategy really difficult to understand? If that is not too difficult, maybe that can bring me more profit if I can understand the lesson first.

The article is about classical options (aka vanilla options) not about binary ones. As I said above vanilla options are a little bit complicated to trade efficiently, but binary options aren't, they're just a little bit more sophisticated than a basic bet on the BTC price. When you bet you know exactly how much you will win or lose unlike trading, that's why it's more safe and simple for the money management. But I didn't say you would earn more money than with trading this way.

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Quote from: leea-1334 on July 08, 2020, 04:45:16 AM

Quote from: BlackHatCoiner on July 05, 2020, 02:19:47 PM

[snip]

But you also have manipulation on poker sites. For one, you need to trust the software and provably fair mechanism. How do you know the casino does not have behind the scenes an algorithm that gives you a bad hand, or draws cards based on player opening hands?

And then you have bots to fight against,,, poker software is very bad at that because they do not care if you win or lose, they only get rakes!

Well, I have been playing poker for months and as far as I know, there is an easy way to verify the fairness of the game. Before you will sit on the virtual poker table, --you can easily check the provably fair algorithm and how this mechanism works. It is simply because you can receive a sever seed and client seed before the game start. Players should have complete control over checking verification fairness because fairness on the gambling sites you have chosen is the key to the gamblers will stick around for a longer time and nobody would ever doubt the fairness of their operations ever.

abel1337

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Quote from: jossiel on July 09, 2020, 12:13:49 PM

Quote from: michellee on July 09, 2020, 02:28:46 AM

Quote from: jossiel on July 08, 2020, 04:24:48 AM

Trading is difficult and so the prediction of what's going to be the next price of bitcoin within a certain period of time. A person that makes living out of it is very skillful because the risk is very high just so we know.

Both are difficult and skill is required. But the skill that you will have for trading and binary options are going to be different, while in the options you have to be quick thinker and be decisive with every single move you do.

I know one of my friends can make a living out of trading, and I already see that he can make a profit every day. Even if he can only make a small amount, the next day, he will make another big profit. I don't know how he can get the sign that can help him to make a profit because he never tells me.

That is why I think I can not learn fast about binary options. I feel that the trade is different than the trade that I usually did. The fast think and decisive will be needed, and I still figure out how to find the right method.

There's no sign, you ask him since he's your friend so that you will know if there's a sign or he's just a skilled person and became an expert because it's already part of his living. People who have dealt with their lives and chose to live with it, they thrive to make a living out of it.

At least if you trade, you can have an idea of how options work.

There will be a sign if you analyze it well. The chart never lies, Indicators is one of the keys of the trader for him to make a successful trade. Though skills are important and relying on trading purely to survive every day is a hard thing to do. Considering yourself that you always need to win because your financial status is on the line every time you trade. Your friend should be a really confident person.

jossiel

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Quote from: michellee on July 09, 2020, 02:28:46 AM

Quote from: jossiel on July 08, 2020, 04:24:48 AM

Trading is difficult and so the prediction of what's going to be the next price of bitcoin within a certain period of time. A person that makes living out of it is very skillful because the risk is very high just so we know.

Both are difficult and skill is required. But the skill that you will have for trading and binary options are going to be different, while in the options you have to be quick thinker and be decisive with every single move you do.

I know one of my friends can make a living out of trading, and I already see that he can make a profit every day. Even if he can only make a small amount, the next day, he will make another big profit. I don't know how he can get the sign that can help him to make a profit because he never tells me.

That is why I think I can not learn fast about binary options. I feel that the trade is different than the trade that I usually did. The fast think and decisive will be needed, and I still figure out how to find the right method.

There's no sign, you ask him since he's your friend so that you will know if there's a sign or he's just a skilled person and became an expert because it's already part of his living. People who have dealt with their lives and chose to live with it, they thrive to make a living out of it.

At least if you trade, you can have an idea of how options work.

jademaxsuy

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I read the post few times becuase I did not get the idea. And after seeing some few replies I had understand that it is all about betting with bitcoin on its market price movement.

Well actually there is a betting like that already and if you wish to join them then you can search it here in the forum and you can also visit this page speculation for your reference on your bet.

Whatever decisions will you going to make then hoping for the best of your interest with cyrptocurrency especially to bitcoin.

michellee

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Quote from: jossiel on July 08, 2020, 04:24:48 AM

Quote from: michellee on July 07, 2020, 04:32:51 AM

Quote from: Tipstar on July 07, 2020, 02:13:32 AM

It's called binary options.

If that is binary options, then I don't think that will be easy to predict the bitcoin move because I think the binary system will be more complicated than the usual exchange. We need to know about the indicator, and that will need some time to learn or master the lesson. I prefer to use the usual than risking the money using binary options. Binary options need more skills to make a profit, and not all trader can do that.

Trading is difficult and so the prediction of what's going to be the next price of bitcoin within a certain period of time. A person that makes living out of it is very skillful because the risk is very high just so we know.

Both are difficult and skill is required. But the skill that you will have for trading and binary options are going to be different, while in the options you have to be quick thinker and be decisive with every single move you do.

I know one of my friends can make a living out of trading, and I already see that he can make a profit every day. Even if he can only make a small amount, the next day, he will make another big profit. I don't know how he can get the sign that can help him to make a profit because he never tells me.

That is why I think I can not learn fast about binary options. I feel that the trade is different than the trade that I usually did. The fast think and decisive will be needed, and I still figure out how to find the right method.

peter0425

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Quote from: Lucasgabd on July 07, 2020, 04:10:06 PM

Hxro has a game where you can bet on the outcome of bitcoin in the next X minutes
so you bet if it'll go up or down

its quite popular and getting bigger now, you can check their twitter account here:
https://twitter.com/realhxro

have anybody used it?

Not yet but i will check it now looks like interesting,Have you played it already?about the winning fair is it legit?

anyway this is like putting answer in speculation thread where there is a pot if you make the closer value.

leea-1334

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Temporary forum vacation

Quote from: BlackHatCoiner on July 05, 2020, 02:19:47 PM

These days, there are many online casinos with games like poker. I wonder, how would a betting price site would be?

Like betting 0.01BTC on the price of bitcoin. If, I've bet that by tomorrow it will have pass 10,000$ I would get the analogous amount of BTC
If the price wouldn't, I would have simply lost my funds. There is a difference with poker here, tho. Central authorities, cannot control it. So the man that has the site, may bankrupt. On the other hand, I think we can admit that online poker (especially with real money) is never on pure luck of the cards.

But you also have manipulation on poker sites. For one, you need to trust the software and provably fair mechanism. How do you know the casino does not have behind the scenes an algorithm that gives you a bad hand, or draws cards based on player opening hands?

And then you have bots to fight against,,, poker software is very bad at that because they do not care if you win or lose, they only get rakes!

jossiel

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Quote from: michellee on July 07, 2020, 04:32:51 AM

Quote from: Tipstar on July 07, 2020, 02:13:32 AM

It's called binary options.

If that is binary options, then I don't think that will be easy to predict the bitcoin move because I think the binary system will be more complicated than the usual exchange. We need to know about the indicator, and that will need some time to learn or master the lesson. I prefer to use the usual than risking the money using binary options. Binary options need more skills to make a profit, and not all trader can do that.

Trading is difficult and so the prediction of what's going to be the next price of bitcoin within a certain period of time. A person that makes living out of it is very skillful because the risk is very high just so we know.

Both are difficult and skill is required. But the skill that you will have for trading and binary options are going to be different, while in the options you have to be quick thinker and be decisive with every single move you do.

Topic: I have an idea about betting on bitcoin (Read 725 times)