thx for link, was very interesting.

http://www.reddit.com/r/Bitcoin/comm...will_hit_2000/

Front page on reddit, wasn't this posted in this thread like 6 months ago?

Such a lol bet

I think it seems fair. 1BTC = $2000 before $200 1:1 odds. As long as the bet is made in bitcoins

apparently there is a rake free bit coin tourney on stars this sunday in mtt/lc. Seems like a way to get bitcoin without going through an exchange.

where?

Other guy can't lose. All he has to do is buy 1 BTC:

- Price drops to $200 he loses ~$250 from his Bitcoin and makes $1,000 from bet = +$750
- Price goes to $2,000 he makes ~$1,550 from his Bitcoin, and gives $1,000 from lost bet = +$550

Nah more like

For the dollar guy hedging like you said:
Cost to hedge =$450
If he wins the bet he has 2 bitcoins worth $200 -> -$50
If he loses the bet he has 0 bitcoins and had to pay $450 for the hedge -> -$450

For the one betting on bitcoin:
If he loses he is -1BTC which is worth $200 -> - $200
If he wins he is up 1BTC which is worth $2000 -> +$2000

Remember, always bet on bitcoin. If the price falls buy bitcoins, if the price rises buy bitcoins. Thats how you get rich in bitcoins.

I want to put a bitcoin QR reader on a used real money slot machine. Should be easy. A little programming, boom land based bitcoin casino that is free from all the gambling regulation.

A Texas authority wrote,"Virtual currency does not entitle its owner to anything, and creates no duties or obligations in a person who gives, sells, or transfers it. There is no entity that must honor the value of a cryptocurrency … The only way to convert a unit of cryptocurrency to sovereign currency is to find a willing buyer. Therefore cryptocurrencies as currently implemented cannot be considered money or monetary value under the [Texas] Money Services Act.”

No money equals no gambling. Gambling laws can't apply to bitcoin gaming in the state of Texas.

Don't really care if someone uses my idea. It's gonna happen if it hasn't already.

You could even have a bitcoin ATM right by your slots which would be ideal.

profit on selling coins, profit on buying coins back via mark up over exchange price. Profit from all the bitcoin gaming. $$$

A no go for US players.

link?

http://forumserver.twoplustwo.com/28.../#post42828549

I read this guy's Twitter yesterday when this was on Reddit, and since he doesn't tweet much, I quickly got back quite a few months, and he made a similar bet with the same guy back then, yes. The earlier bet had different numbers if I recall (maybe $200 and $1000?), but yeah, 2 diff. bets.

I own BTC but am not INSANELY bullish on it, but I still like the $2000 side of this bet more than the 200. I think 1:1 odds seem about right, I'd probably want 2:1 to take the Kalas side, personally.

I hate how ******ed people are on bitcointalk but this thread is so cluttered and unorganized.

The way things are going, esp with a thread with >13k posts and its relation to poker, there will probably need to be an entire section devoted to cryptos sooner or later.

Cryptos + poker are going to start blowing up, not go away. 2p2 if you read this, consider action sooner than later, please.

Yeah, sub forum would be great!

Keep in mind, those ******s are invested in bitcoin and think it will go up. Scary stuff if your a bull.

Idiots can be accidentally right all the time. See here.

bitbet.us sucks because of it's weighting system. Most bets are almost guaranteed losers on either side by the time you place them.

Is there anywhere with similar type betting where you can actually stand to make a profit if you're correct?

I have some sportsbet sites, but I'm looking more for props like at that site. cheers.

how about

https://www.predictious.com/

Down below $390. Seems like China selling is a big part. It's a bit old and was published on 4/1, but this is the best explanation I have found for the downward trend in price by CEO of gyft.

http://libertyblitzkrieg.com/2014/04...price-so-weak/

Cliffs
Merchant adoption outpacing consumer adoption
Miners selling
Above two create downward pressure which gets all the weak hands to sell on falling price which is in turn creates more downward pressure etc which makes for bear market

Last couple hours the price is tanking, now down to $377 avg across the exchanges. 24 hours ago was holding steady at $443.

Even at $350, with 3600 coins mined a day, your talking $1.26 mil a day needs to come in to buy them up if the miners aren't hoarding. Which at this point, i'm guessing most aren't.

Im not well versed in the different mining rigs but shouldn't there be a significant number of miners who have dumped a bunch of money into ther rig and their only shot at profiting will be holding for a significantly higher btc price?

If not, this should happen when the difficulty goes up next time right? Anyone know when this happens?

Well we are at a point Btc HAD to reach to go higher. It can over extend for a period of time, but when it skyrockets and buying a miner pays off plus some in a month or 2 or 3, the money flows into miners. Now that buying miners is completely unprofitable, any money will flow into BTC.

The question is I guess if guys who dropped say $20k on miners because they could pull a quick profit, are those same people willing to just buy $20k in BTC, where you are more gambling/investing as opposed to a calculated profit like buying a miner when the numbers worked.

Difficulty increases about every 10 days, I think. Mining rewards half every four years.

Lower bitcoin prices mean miners will hold on to the coins, when personal finances allow, rather than liquidate faster.