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Topics - Karl_BC

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31
What is your spirit coin?
Is it BTC, LTC, ETH, XRP, or TRX?
 
To find out, take a fun and easy test.

Share your result here in the thread.
Would be also interesting to know if there’s a coin which is common to most of the gamblers :)
 
PS. There’s also a surprise for newcomers you don’t want to miss out ;)

Click here: CRYPTO CURRENCY TEST
 
 
Cheers,
Karl
Bitcasino.io

32
test   / Testing
« on: June 02, 2020, 10:53:19 AM »


Hi there :)

How are things with you? Back at work or are you staying at home?
 
We have a great article for you about the easy games you can play safely at home.

Which ones are your favorites - table games, slots, live dealer games?

Cheers,
Karl
Bitcasino.io

33
Bitcoin Forum / Join the COVID-19 relief charity festival
« on: May 05, 2020, 10:09:49 AM »


Crypto giving platform, The Giving Block, is hosting a virtual COVID-19 relief charity festival called
D3: Donate, Dance, Decentralize.

The D3 concert is a part of the broader #cryptoCOVID19 campaign to support nonprofits on the front lines of COVID-19.

You can join the festival on May 5th 2020 from 3:00pm PST - 7:00pm PST at www.bitcointuesday.org/D3
and here are the artists you can enjoy:

* 3LAU
* RAC
* killparis
* illGatesMusic

We are happy to announce that Bitcasino is also supporting this first-ever crypto charity live stream concert.
Partnering with this great event we feel we can help make a difference and bring more generosity to the world.
More information can be found in Bitcasino.io blog.

E-see you at the concert!
Karl
Bitcasino.io

34
Hi guys!

Are you still playing with bitcoins? Or have you switched to TRON or Ripple?
As we all know, every crypto has its own benefits but is it important for you to have a variety of different cryptos to play in casinos?

Karl

35
Random Crypto Giveaway / Airdrop / WIN 250 XRP in Bitcasino
« on: April 15, 2020, 03:07:55 PM »
Ripple is ON!

From now on, players can deposit, wager and withdraw with XRP on Bitcasino.
Use this awesome cryptocurrency to enjoy our wide range of games.

What are the benefits of Ripple?

Fast transactions, low fees, and a hugely scalable network means it is a great match for the fun, fast and fair world of Bitcasino.

Want to try it out?
WIN 250 XRP to play in Bitcasino!

How does it work:

1. Reply here and write your Bitcasino.io username.
2. We pick a random user who wins 250 XRP. The winner will be announced on April 22.
3. The winning amount will be credited to the winner’s Bitcasino.io account with 1x wager requirement.

Good luck ;)
Karl
Bitcasino.io

36
Bitcoin Forum / Bitcoin Halving 2020 = Explained
« on: April 09, 2020, 11:22:33 AM »
Hi guys  ;)

You might’ve heard it whispered in circles of crypto enthusiasts or posted in tweets of crypto traders.
Bitcoin Halving Day—what is it about?

When Satoshi Nakamoto published their whitepaper in 2009, he made sure that the distribution of bitcoins
will remain liberated from central control. Thus, the reward system through bitcoin mining is devised.
For every block that is added to the blockchain, a certain number of bitcoins is given to the miner in return.

However, as time passes by and more miners pull up with their backhoes, more and more bitcoins are added to the circulation.
If left on its own, this can lead to overproduction and eventually cause inflation.
To prevent this from happening, the number of rewards is cut in half every four years.
Thus, Bitcoin Halving Day is born.

 
During bitcoin halving day, the reward given to miners for every block they add to the chain is cut in half.
It’s a way to keep its inflation rate in check and to make sure that there won’t be an over influx of bitcoins circulating the market.

This event happens roughly every 4 years.
There’s a lot of room for the growing hype since there is historical data backing up people’s beliefs.
And there is reason to believe that! It’s important to still keep in mind, however, that times change and the factors
that affected the rise in price before may not be present in the future.
 

What happens in bitcoin halving day

Bitcoin halving slows down the distribution of bitcoins by cutting the reward given to miners in half.
Satoshi Nakamoto included in the protocol that for every 210,000th block added to the blockchain,
the incentive received by miners are reduced. This ensures that the market won’t be flooded by bitcoins
which would have resulted in the devaluation of the digital coin.

Mining is the most profitable way of earning bitcoins and that’s why more and more people are joining
the hype with their specialized machines and extensive knowledge on hashing.
This means that more and more bitcoins are mined and added to the circulation.
If left unchecked, there will be a continuous surge of supply and as a result, bitcoin’s price will drop.

During its early years, the initial reward for miners was 50 BTC.
In 2012, the first halving event happened and the reward for the 210,001th block was reduced to 25 BTC.
While it’s still a relatively huge amount, it’s ensured that there’s a less number of newly minted bitcoin
added to those already circulating in the market.

What’s also included in bitcoin’s protocol is the maximum number of bitcoin can only be mined.
The fixed supply of bitcoin sits at 21,000,000 and right now, roughly 18,000,000 have been mined.

Bitcoin halving ensures that the supply of bitcoin will not run out immediately with more miners joining the fray.
With fewer rewards given to them, fewer bitcoins are added to the circulation, preventing the drop of bitcoin’s value.

Since 2009, two halving events have already taken place.
The first one in 2012 saw the reward cut to 25 BTC. After four years, the second halving event happened in 2016.
The reward received by the person who added block number 420,001 to the blockchain was reduced to 12.5 BTC.

Currently, the reward for miners is 12.5 BTC. The next bitcoin halving day is expected to happen this coming May 12, 2020.
After the 630,000th block is added, the reward for the next block will be reduced to 6.25 BTC.

Rewards for miners will continue to be halved every four years until all 21,000,000 BTC have been mined.
Fortunately for miners, this won’t happen until the next hundred or so years, specifically in the year 2140 when 0 BTC is left to be mined.

Why does bitcoin need to be cut in half?

The answer is simple. It follows the law of supply and demand.

Imagine if new bitcoins are continuously added to the circulation every time a miner verifies a block.
It would be a never-ending stream of production and since there’s an abundant number of bitcoins in the market, its demand would drop.
Soon enough, the purchasing power of the digital coin will drop as well and its value will go lower.

This is the problem in the present monetary system that bitcoin solves.
In fiat currencies, central banks can print as much money they want and increase the flow of currencies in circulation.
Since there is an unlimited source of money, the demand and value drops with every new printing. As a result, the inflation rate balloons.

On the other hand, bitcoin has a fixed number of supply that cannot be changed.
There can only be 21,000,000 bitcoins in existence and once they are all mined, that’s all there is to it.
Miners will have to rely on other incentives such as transaction fees as reward when they verify blocks.

In this sense, bitcoin is comparable to gold in the sense that it cannot be created again once all of it is mined.
Its limited supply ensures that it is always scarce and its value is always kept in check.

In a nutshell, bitcoin halving is necessary because it keeps inflation in check and it ensures that
there won’t be an oversaturation of bitcoin in the market, causing its value to drop.

The effects of bitcoin halving day

Miners are mainly the most affected ones after halving day occurs.
And naturally so, since their ‘income’ is cut in half.
Take into consideration the fact that they have to compete with every other miner in the network to get their reward,
halving day really seems to be bad news for miners.

Both halving days in 2012 and 2016 saw a considerable drop in the number of miners who participate in the bitcoin network.
After several months, the numbers managed to pick up and even doubled after the initial drops.

Effects in Price

So how does halving day affect the price of the world’s best digital coin?
Does it increase or does it drop? What can you expect on this year’s halving day? Find all your answers here.

When bitcoin first halved in 2012, no drastic change was observed right away in regards to its price.
It sat at $12 during the first halving in 2012. A year later, however, bitcoin’s price skyrocketed to a staggering price of $1,038,
the highest price it reached during that time. It considerably dropped to $220 after a few months.

On the second halving day in 2016, people were anticipating the rise in price.
So they bought more bitcoins and the span of one month before halving, bitcoin’s price climbed from $576 to $650.
It just goes to show that there really is a hype towards this much-anticipated event for bitcoin holders.
Fortunately for all enthusiasts at that time, bitcoin’s price did increase. After 150 days, its price sat at $758.

All of that is nice and all but what’s most intriguing is bitcoin’s price after a year has passed.
At the 2012 halving, it climbed to $1,038 with an increasing percentage of 9,336.36%.
A year after the 2016 halving, its price climbed to $2,526 with an increasing percentage of 288.60%.

There’s not much change in the subsequent days that followed the halving event.
People are leaning more on the long-term effect since based on the earlier instances, they are hoping that
the bullish run will happen again after this year’s halving event.

Bitcoin has gone through various phases and has received mixed reactions from people.
But no matter the negative reaction, it keeps proving itself as the future of money.

What are your thoughts about the bitcoin halving day?

Cheers,
Karl
Bitcasino

37
Bitcasino.io | Promotions | AskGamblers Review | Help Centre | Support: [email protected]



Hey everyone!
My name is Karl and I work for Bitcasino.

I want to do my best on this forum to answer any questions, queries or concerns you may have around who we are and what we do.
We would also welcome any feedback or suggestions as to how we can make Bitcasino better than it’s ever been before.

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We’re hoping to spark up some great conversations around cryptocurrencies and the future of crypto as we know it.
So, stay tuned :)


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