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wry

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    wryy

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  1. Given the long year 2018 has been with the constant price declines it is easy to lose sight of what Bitcoin really offers. The price declines in and of themselves do not bother me, though obviously I wish the price was going up. Rather what bothers me is that as the price drops all the financial professionals who thought Bitcoin was a scam or ponzi look correct. One of these most prominent critics, was Jamie Dimon who is the CEO of JP Morgan, one of the most well known banks in the United States. He was an very vocal critic of Bitcoin in 2017 before the big price spike made him look a bit silly. Sadly, now he's looking less silly. However, at the time Jamie Dimon was being critical Adam Ludwin wrote a very nice response to him. Whenever I start to get sad about the prospects of Bitcoin I remember his post and go back an re read it. You can find it here: https://blog.chain.com/a-letter-to-jamie-dimon-de89d417cb80 In this post Ludwin makes the case that Bitcoin is a decentralized payment system. That is where its value lies. This does replicate the function of massive payment processors like Visa and Mastercard, though obviously Bitcoin can't match their throughput. But Bitcoin does offer some real advantages. It's worth your time and always makes me feel better after reading it. It helps me keep the idea of the Bitcoin project, which I believe in, separate from the issue of Bitcoin's price, that is impossible to know. I also love the idea of a deflationary currency, but I think that attraction is dimming, and that's me speaking, not Mr. Ludwin. I know everyone will be busy making their own topics for the current challenge, but when all that has died down, I'd be interested to know what you think of this defense of Bitcoin and if there are any other good ones you've seen? Thanks and good luck!
  2. HILO: 1,938,410,141 placed by wryy on 14/12/2018 Wagered 0.00014000 Multiplier 26.04680061340332x Profit 0.00350655 MINES: 1,938,447,517 placed by wryy on 14/12/2018 Wagered 0.00014000 Multiplier 189.75x Profit 0.02642500 DICE: 1,938,613,588 placed by wryy on 14/12/2018 Wagered 0.00014000 Multiplier 25x Profit 0.00336000 DICE: 1,938,613,750 placed by wryy on 14/12/2018 Wagered 0.00014000 Multiplier 25x Profit 0.00336000 Forum Topic: I hate to admit I almost didn't even try this one. But after seeing so many others do it, I got the Hilo (which I normally despise) and I knew I could do it. Thanks for not requiring screen shots for all of these. I hope nobody cheats you on the consecutive dice wins. Thanks!
  3. New Year's with @Irena, @Darko and Stake! How can that be bad! Thanks for the early warning! Now please tell me you'll add a live stream as well!
  4. On both sides of the Atlantic today there was good news for fans of increasing Bitcoin adoption and integration with existing financial services. In Europe crypto friendly money app Revolut announced it would start offering banking accounts to its clients. While it got the license today it is still several months away from being able to offer banking services. In the USA crypto friendly stock trading app Robinhood announced that it too would offer checking accounts starting in early 2019 that had a very generous 3% interest rate on balances. Interestingly, it was offering these services NOT with insurance from the Federal Deposit Insurance Corporation (FDIC) that insures banks in the USA but using its Securities Investors Protection Corporation (SIPC) insurance that protects securities dealers. This has already brought some blow back from regulators. However, in both cases, I find the news very promising. Anyway to integrate your traditional financial activities with crypto is a total win for consumers in my mind and will help adoption of Bitcoin. Imagine if the Euro goes through another crisis like it did in Greece a few years ago, finally people wont be held hostage by the major banks! While neither of these services are operational yet, they both promise a lot for Bitcoin in 2019! Do you use either of these apps? How do you like them? News like this is exactly the sort of thing that tells me the Bitcoin project, freeing people from their national currencies if they so choose, can still succeed! Revolut: https://www.coindesk.com/crypto-friendly-money-app-revolut-wins-eu-banking-license Robinhood: https://finance.yahoo.com/news/robinhood-launch-checking-accounts-3-211615271.html
  5. I have a P.O. Box. I don't want to give out anything, one of the things that first drew me to crypto was how it helped anonymity, even though it isn't quite as anonymous as we all first thought. I still think this is a great idea and would be some of the highest bang for the buck marketing Stake could do.
  6. Just because I would never give out any personal information is no reason for you not to do this! I think it's a great idea and a great way to get Stake out in people's minds rather than just doing contests online and on twitter and that sort of thing. Some of the players here cruising around in a Stake t-shirt is probably worth several thousands of dollars of publicity. Send Irena, Mirela, Bojana, and Katarina to Macau in Stake attire and watch the user numbers skyrocket!
  7. wry

    Difficulty of various seasonal challenges?

    May have been a blessing in disguise @chrisconn63 that you missed them! It's Stake's money and they are entitled to give it out however they want but these last two challenges, x660 mines and x100+ x3 started to remind me of World of Warcraft and not in a good way. I don't mind the difficulty or losing in order to win the challenge, what is starting to get me is the real life time. When I started on my third hour yesterday doing the Plinko challenge it had completely ceased to be fun. I could not chat while playing because I had to keep hitting the damn button. (I might miss autobet.) I wanted a "How much is this gonna cost me button?" that I could just hit and it would deduct whatever I was going to have to pay to finally hit the challenge so I could be done with it. That's not possible of course, but shows how lucky you might have been to miss out on this. Plus, who knows, by 25 Dec that .005 BTC might only be worth like 1 USD or something! πŸ˜€
  8. Congratulations @Lillyflow!!! That sounds like an amazing opportunity with a truly big name company. ⭐⭐⭐⭐⭐ There's five gold stars for you! I hope this wont cut too much into all your other interesting projects! Good luck for your interview!
  9. Sure! That is one of the most fun and memorable parts of gambling when you have that amazing streak. However, the only time I ever felt like I really couldn't lose, just knew I was going to win, was playing poker. I just looked around the table, thought to myself, I got this, and crushed everyone. It was awesome.
  10. PLINKO: 1,924,548,785 placed by wryy on 13/12/2018 Wagered 1.60000000 Multiplier 260x Profit 414.40000000 PLINKO: 1,925,367,164 placed by wryy on 13/12/2018 Wagered 1.60000000 Multiplier 170x Profit 270.40000000 PLINKO: 1,925,463,729 placed by wryy on 13/12/2018 Wagered 1.60000000 Multiplier 120x Profit 190.40000000 Thanks for not requiring a screen shot, other than that, I have nothing nice to say about this one.
  11. wry

    The Bitcoin Future

    There is no way to know what the price will do, it is literally unknowable. I think he underestimates the damage than has been done to Bitcoin by the large decline from ~19,800 USD at the end of 2017. Having said that, I still love the Bitcoin project and believe in it. That's why I hold, not because price may be higher in 2019. So RIP Bitcoin is I think a long way off, now RIP Bitcoin as a mainstream popular investment, that may be dead for awhile. At least until the next halving of the block reward in 2020, which I'm actually surprised there's not more talk about that.
  12. MINES: 1,911,370,467 placed by wryy on 12/12/2018 Wagered 1.60000000 Multiplier 600.875x Profit 959.80000000 Thank you baby Jesus! Darko, you minion of Satan, you consumed the souls of far too many of my doggies with this one! πŸ˜€
  13. First off, behavioral finance and economics is simply the realization by economists and finance academics that, surprise!, people are not rational. Therefore, they borrow from other academic disciplines, such as psychology, sociology, and organization behavior to explain things. So absolutely! Ideas they discuss apply to gambling, it's just that they are really not that new. Consider your disposition effect, it is true, no doubt, but why? Well because of how we frame things, we tend to be more aggressive in avoiding losses, you havn't lost money until you sell, so we don't. It can also be related to escalation of commitment - increasing your dedication to a losing course of action - witness how many people increase their bets when they lose, the martingale "strategy" legitimizes this. With disposition it's not as strong, but it's similar, you've lost money, say in Bitcoin, yet you hang on hoping for the price to pump back up, you're more committed despite the fact that it is not working out. So YES, I think they are absolutely relevant and I think you'll find lots of examples not only in people's play but also in their chat! So great choice in your classes! Happy Hunting!
  14. BLACKJACK: 1,900,043,876 placed by wryy on 11/12/2018 Wagered 0.00003500 Multiplier 2.5x Profit 0.00005250 BLACKJACK: 1,900,058,416 placed by wryy on 11/12/2018 Wagered 0.00003500 Multiplier 2.5x Profit 0.00005250 Blackjack is my favorite! Thank you!!
  15. wry

    Do you believe in Karma?

    I WANT to believe in it. It is satisfying to see when jerks have poor results and good people have good ones. However, it is pretty clear that at least as far as material things, often the scummiest people often do well. It reminds me of the old Irish proverb, "If you want to know what God thinks of money, look at who he gives it to." So I think the reward for trying to be helpful and good (however you choose to define that) is knowing you are a helpful and good person. Expecting some mystic force to reward you for your behavior is a comforting thought, but just at odds with too much observable data. So while I LOVE the idea, and wish wish wish it were true, I don't expect it to reward me via gambling.
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