Pros and Cons of using Crypto

What are the pros and cons of using cryptocurrency for online casino transactions? Have you ever experienced that you cannot withdraw your crypto winnings?

Quote: NSKelis

What are the pros and cons of using cryptocurrency for online casino transactions? Have you ever experienced that you cannot withdraw your crypto winnings?
link to original post

Here are some pros and cons of using gambling payment for online casino transactions:

Pros:

Safety. Cryptocurrencies are generally considered more secure than traditional payment methods because they are decentralized and use cryptography to protect user data.
Privacy: Cryptocurrency transactions are usually anonymous, which may be attractive to some casino players.
Speed: Cryptocurrency transactions are usually processed very quickly, so players can deposit and withdraw funds almost instantly.
Global coverage: Cryptocurrencies are accepted worldwide, so players from any country can deposit and withdraw funds at online casinos.

Minuses:

Volatility: The value of cryptocurrencies can be volatile, meaning players could lose money if the value of their cryptocurrency falls.
Difficulty: Using cryptocurrencies can be difficult for some users, especially those who are not familiar with the technology.
Limited acceptance: Not all online casinos accept cryptocurrencies.
Risk of fraud. There have been cases of cryptocurrency casino scams, so players should be careful when choosing a casino to play at.
Personally, I have not encountered the inability to withdraw my crypto winnings from an online casino. However, there have been reports of players having difficulty withdrawing their winnings, especially at new or untrusted casinos.

To avoid problems with withdrawing crypto winnings, it is important to choose a reputable online casino. Players should also carefully read the casino's terms and conditions before depositing any funds.

Did someone say something about this forum becoming bots talking to bots?

Quote: smoothgrh

Did someone say something about this forum becoming bots talking to bots?
link to original post

Bots can't make Limericks. I read it on the internet.

Quote: smoothgrh

Did someone say something about this forum becoming bots talking to bots?
link to original post

Bots in cahoots.

Quote: billryan

Quote: smoothgrh

Did someone say something about this forum becoming bots talking to bots?
link to original post

Bots can't make Limericks. I read it on the internet.
link to original post

Of course you are correct, I just asked one

There once was a fellow named Bill,
Who said AI lacked the limerick skill.
But with rhymes quite clever,
It proved its endeavor,
Now Bill's limerick stance is nil!

Quote: smoothgrh

Did someone say something about this forum becoming bots talking to bots?
link to original post

Maybe it's just one bot talking to itself.

Quote: smoothgrh

Did someone say something about this forum becoming bots talking to bots?
link to original post

We have a new poster has 2 threads but only 5 posts. Perhaps the tine has come to use some human and lower tech ways of stopping the bots?

Limit to 1 new thread the first 15-30 days? Make some kind of way for vetted members to vote if a poster is human after X many posts?

Quote: AZDuffman

Quote: smoothgrh

Did someone say something about this forum becoming bots talking to bots?
link to original post

We have a new poster has 2 threads but only 5 posts. Perhaps the tine has come to use some human and lower tech ways of stopping the bots?

Limit to 1 new thread the first 15-30 days? Make some kind of way for vetted members to vote if a poster is human after X many posts?
link to original post

You suppose this member a bot.
I personally rather think not.
I may not be too bright,
but I do have some insight.
No worries, I get this a lot.

Quote: Dieter

Quote: AZDuffman

Quote: smoothgrh

Did someone say something about this forum becoming bots talking to bots?
link to original post

We have a new poster has 2 threads but only 5 posts. Perhaps the tine has come to use some human and lower tech ways of stopping the bots?

Limit to 1 new thread the first 15-30 days? Make some kind of way for vetted members to vote if a poster is human after X many posts?
link to original post

You suppose this member a bot.
I personally rather think not.
I may not be too bright,
but I do have some insight.
No worries, I get this a lot.
link to original post

The cat
sat on
the mat

Quote: AZDuffman

Quote: Dieter

You suppose this member a bot.
I personally rather think not.
I may not be too bright,
but I do have some insight.
No worries, I get this a lot.
link to original post

The cat
sat on
the mat
link to original post

The Cypto Crook Crept in, Crapped and Crept out again.

Quote: NSKelis

What are the pros and cons of using cryptocurrency for online casino transactions? Have you ever experienced that you cannot withdraw your crypto winnings?
link to original post

Using cryptocurrency for online casino transactions has its pros, like anonymity and security, but also cons, including volatility and limited acceptance. :)

I'm trying to figure this out.

A man buys one bitcoin for $1,000 and deposits it in an exchange. When bitcoin hits $50,000, he tries to sell it, only to find the exchange has embezzled all the funds.
Did the thief steal $1,000 or $50,000, and what can the victim write off as an unreimbursed loss?

Quote: billryan

I'm trying to figure this out.

A man buys one bitcoin for $1,000 and deposits it in an exchange. When bitcoin hits $50,000, he tries to sell it, only to find the exchange has embezzled all the funds.
Did the thief steal $1,000 or $50,000, and what can the victim write off as an unreimbursed loss?
link to original post

I believe in the Madoff case the thief stole the current value so $50,000 (which makes sense because a crypto worth $50,000 will get the thief $50,000 of merchandise) but the victim only gets the original investment as reimbursable.

Quote: billryan

I'm trying to figure this out.

A man buys one bitcoin for $1,000 and deposits it in an exchange. When bitcoin hits $50,000, he tries to sell it, only to find the exchange has embezzled all the funds.
Did the thief steal $1,000 or $50,000, and what can the victim write off as an unreimbursed loss?
link to original post

Ask in the BTC thread.

Where did the man buy the BTC and why did he deposit it into an exchange? Where was it after he bought it and before he deposited it into an exchange? He should have kept his BTC off a shady exchange. As of now, You can 100%(well nothing is a 100% guarantee) protect your BTC from anyone who can't guess or hack 12-24 random words. How hard is that? Well here's what someone more mathematically inclined said...

"2^128 is a really large number. How large? Well, the universe is only 2^58.6 seconds old. That means to try every combination if we started at the big bang we need to do 2^(128–58.6)=2^69.4=7.8x10^20 combinations per second to try every combination by today's date"

None of that matters to the original question.

As to the original question, you haven't provided enough information. When did the thief steal it? If he stole the BTC immediately, then the thief stole 1000 in value. The thief stole whatever the cash value of the BTC was at the time he stole it.

Let's say you bought a comic book for $1,000 and it was appraised for $1,000 at the time. You stored it in a safe for 5 years where its current going rate(appraised amount) was $50,000. You found out a relative stole it and sold it after 1 year for $5,000(the going rate at the time) How much did he steal from you? Assuming it went to court what would they say he actually owed you... 1k, 5k or 50k?


FYI, BTC definitely more than doubled since you offered that bet. IIRC it was between 15k and 16k, it's now at 34k. Why is BTC at 34k? I have no clue, I haven't seen mass adoption or anything new with BTC in years.

Bitcoin has only been under 17K briefly for the last few years so unless I offered the bet at the very bottom of the market, I think you might be mistaken.

Quote: billryan

Bitcoin has only been under 17K briefly for the last few years so unless I offered the bet at the very bottom of the market, I think you might be mistaken.
link to original post

IIRC that's(at the bottom) when you and Bob were all over the BTC thread 'gloating' about how you're thoughts about BTC were true, or whatever. I'm almost certain it was under 17k at the time, at least on Coinbase.

Bob probably predicted (educated guessed) that it was going to zero.

There is a 58% chance he has detected a pattern.