Topic: Why investing in the bank of a centralized cryptocurrency casino is a bad idea - page 2. (Read 894 times)
May 28, 2017, 08:58:49 PM
We can't completely ignore what is written in that article because there are scams we see now and then and sometimes more reputed sites also closing without any warning. That's why these casino investments are very risky and one shouldn't invest more money into it. Diversifying your funds will help but should invest only on reputed sites, not on new sites.
May 28, 2017, 02:25:25 PM
If you exclude those 3 bad investments the profit is over 20% As long as they dont run you can make profits. That is the only concernI have and the only one I feel is necessary when it comes to casino investments. You must not be in a rush to invest your money you should take your time. Thank goodness that guy invested in the casinos so we didn't have to. Now we know.
May 27, 2017, 10:22:44 AM
Pretty sure OP is heavily invested in those sites and doesn't want to his share to be diluted 
Seriously though..
Overall I would say: "investing" in bitcoin casinos is indeed extremely risky and I wouldn't specifically recommend it to anyone. Especially if you arestupid naive(?) enough to put your money in 9 random casinos, you are indeed likely to lose money. The key is to actually be active in the community and somehow try to figure out which sites and owners are reputable. Reading a TOS is personally irrelevant for me, that's just some bullshit text on a site. The way the owner actually acts, deals with site issues, promotes his site, how long the site has been online, etc etc is more relevant for me. And still I would limit certain amounts on certain sites based on my personal risk calculation.
But I wouldn't try to convince you to "invest" in these sites.. I rather keep my share bigger in those sites and earn money myself
(to be clear: I definitely made very decent money with putting money in casino's BR since 2013 - starting on JD and BK)
Seriously though..Quote
Funny story: smart dude who knows math, made a journal in a shitty forum where he tracked his investments across the top 9 Bitcoin gambling investments sites.
I actually corrected that smart dude multiple times specifically on his bad math skills. But I guess that is pretty irrelevant.Overall I would say: "investing" in bitcoin casinos is indeed extremely risky and I wouldn't specifically recommend it to anyone. Especially if you are
But I wouldn't try to convince you to "invest" in these sites.. I rather keep my share bigger in those sites and earn money myself
(to be clear: I definitely made very decent money with putting money in casino's BR since 2013 - starting on JD and BK) May 27, 2017, 06:46:24 AM
BitKing your arguments are all over and really disprove nothing. How about bitdice's terms of service by the way? They're like screaming "I'm a scam". Also, in the article the word "scam" is obviously used as a joke, making it similar to the Identification of parties part of a contract. If you didn't even understand this part, maybe start reading texts that are less complicated.
May 27, 2017, 05:11:43 AM
How can anyone invest after reading this? It's like throwing away money.
https://gamblers-united.com/investing-bank-centralized-cryptocurrency-casino-bad-idea/
https://gamblers-united.com/investing-bank-centralized-cryptocurrency-casino-bad-idea/
If you do your research out here, then you can definitely make a profit from investing in a casino.
The biggest risk that you have is exchange rate risk with bitcoin going down whilst your investment is going on, if you choose a reputable casino then you have little chance of getting scammed in my opinion and my experience at least.
Some of his points are valid. But as Dean stated the last scam was a long while ago and people are getting so wary that the scams are basically getting weeded out because of their poor effort in their design etc. because nobody plays there.
And in the cyberspace i believe that whether or not a company is registered or not or whether the admin is known or not doesn't matter as much as how much the guy is trusted and how high his moral standards are. There are many scammers that have their identity out there but still scammed big amounts. Think josh garza.
May 27, 2017, 05:04:34 AM
Because the author doesn't have a clue what he's talking about?
Laughable to call all crowdfunded gambling sites scams. When was the last time one scammed? Dice.ninja was the last major one.
All the more recent ones? If you get scammed by putting your money into a casino with no players and a 1 BTC bankroll you're going to have a bad time.
It's investing. Do research.
Just-dice returned ~56k btc (around $31 million iirc) to investors in 2014 after it closed. I returned 6k btc (around $5 million) to investors in December when I closed.
Bitdice has seen great returns for it's investors.
He doens't know the law at all.
FYI BetKing was operating legally from the UK without having on onlne licence. Pay a lawyer and follow the advice.
It's also not illegal to setup a company in Costa Rica and pay less tax.
I do agree with some of his points, particularly that licenses are scams.
But to just call all centralised casinos scams is stupid.
Decentralised online casinos will never be as popular as centralised ones. Great tech and great ideal sure but it won't work.
P.S. newbie account posting the link, assume it's the offer.
Also he's not a feared poker player, I've never heard of him
Laughable to call all crowdfunded gambling sites scams. When was the last time one scammed? Dice.ninja was the last major one.
All the more recent ones? If you get scammed by putting your money into a casino with no players and a 1 BTC bankroll you're going to have a bad time.
It's investing. Do research.
Just-dice returned ~56k btc (around $31 million iirc) to investors in 2014 after it closed. I returned 6k btc (around $5 million) to investors in December when I closed.
Bitdice has seen great returns for it's investors.
He doens't know the law at all.
FYI BetKing was operating legally from the UK without having on onlne licence. Pay a lawyer and follow the advice.
It's also not illegal to setup a company in Costa Rica and pay less tax.
I do agree with some of his points, particularly that licenses are scams.
But to just call all centralised casinos scams is stupid.
Decentralised online casinos will never be as popular as centralised ones. Great tech and great ideal sure but it won't work.
P.S. newbie account posting the link, assume it's the offer.
Also he's not a feared poker player, I've never heard of him
May 27, 2017, 04:09:21 AM
How can anyone invest after reading this? It's like throwing away money.
https://gamblers-united.com/investing-bank-centralized-cryptocurrency-casino-bad-idea/
https://gamblers-united.com/investing-bank-centralized-cryptocurrency-casino-bad-idea/
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