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View Full Version : Earn loansharking interest rates on your BTC



Son-of-Liberty
10th November 2013, 06:06 PM
https://btcjam.com/

JohnQPublic
13th November 2013, 10:07 PM
I am sure we already have bitcoin derivatives, too.

Son-of-Liberty
15th November 2013, 09:35 AM
I will say you have to be very, very careful lending people BTC. Looks like quite a few people are currently delinquent on their loans. They borrowed when BTC was $130 or whatever and now can't pay back the loan because they converted to fiat and don't have enough to buy back at $400+.

There are some scammers too but most look like idiots that exposed themselves to USD risk.

sirgonzo420
15th November 2013, 12:27 PM
In my opinion, you are better off investing here: https://just-dice.com/

than on some loan/banking dealy.


It's a satoshidice-like site, where you can invest, and have the 1% house edge on *your* side, minus a commission for the site owner.


Just-Dice.com is a Bitcoin casino where you can play a fast paced dice game with a low 1% house edge (https://just-dice.com/#q1b) and gamble with your BTC. Pick your chance to win and how much to bet, then select "hi or lo" to roll the dice and get an instant result, win or lose. There is also a live chat where you can interact with other players on the site. They will probably try to convince you to bet more. :)
Alternatively you can invest in the site's bankroll, and share in the site's profits (or losses), while helping us offer bigger maximum bets to the players. This is why the players in the chat are trying to convince you to bet more - they win when you lose...

Son-of-Liberty
16th November 2013, 06:03 AM
Actually I have invested in a couple of gambling sites. Not Bitcoin denominated though. Why do you think I have access to WDC vouchers for Rapidballs?

Son-of-Liberty
20th November 2013, 03:50 PM
Thanks for the recommendation Sirgonzo. I am giving just-dice a shot. We'll see how it goes.

Kind of fun watching your balance go up and down in real time with the bets.

sirgonzo420
20th November 2013, 07:39 PM
Thanks for the recommendation Sirgonzo. I am giving just-dice a shot. We'll see how it goes.

Kind of fun watching your balance go up and down in real time with the bets.

I feel that the man who controls the cold wallet (which is now probably worth $30 million or more) is trustworthy, and the site is fair. The odds are in the site's favor, so over time, the site profit will grow. From time to time whales come in and place 100+ btc bets, which cause more fluctuation in the site's profit, which has been negative before (at that time, the bet limit was higher).

Of course, never put in more than you are willing to lose, and if I were you I would use 2-factor authentication to further protect your account there. But just-dice is a fair dice site and is the best of its kind. There are (there especially were in the past, when the limit was higher) some huge bets that go through there... bets that exceed many casino's limits.

Son-of-Liberty
22nd November 2013, 05:32 PM
Yeah I always use 2FA when available. Seen some pretty big bets already. It's actually astonishing what people will gamble especially when if they would just hold, their BTC's would rise in value. Watched as one guy busted out last night after he had been up 80 BTC at one point.

I am actually down a bit at this point. Variance is pretty substantial with just a 1% edge and big limits.

sirgonzo420
22nd November 2013, 05:58 PM
Yeah I always use 2FA when available. Seen some pretty big bets already. It's actually astonishing what people will gamble especially when if they would just hold, their BTC's would rise in value. Watched as one guy busted out last night after he had been up 80 BTC at one point.

I am actually down a bit at this point. Variance is pretty substantial with just a 1% edge and big limits.


Variance can be substantial... just a few weeks after the site launched, the site profit went negative, which was a good time to invest.

When the site went from -6,000 btc profit to +8,000 profit, those who had invested when the site was down and stayed invested until today, have seen quite a return on their bitcoins, which themselves are seeing quite a tremendous upshot in perceived value against every physical commodity, currency, good and service.

Son-of-Liberty
11th December 2013, 11:03 AM
I withdrew my investment in Justdice.

After thinking about it I wasn't comfortable with the amount of pooled funds held by the operator.

I am not too concerned him stealing or about the funds being hacked. He stores the funds in a cold wallet.

What is concerning is that with the rapid rise in the value of bitcoin the pooled funds have grown to a astronomical $$ value.

With over 50000 BTC in house funds that is approx 50 million US. With that sort of money on the line it wouldn't surprise me if some mafia type thugs snatched this guy and forced him at gunpoint to give them the wallet and pass phrase. Once stolen since it is BTC it would be almost impossible for the police to track down the perpetrators.

If BTC were still around $100 instead of around $1000 I would probably feel safer investing in Justdice.