Everyone ranging from noob and veteran in the crypto ecosystem wants to discover safe and reliable ways to grow their holdings with minimal upkeep or input. Some trade altcoin/Bitcoin pairs, while others may prefer futures trading with indexes and stocks, many explore "cloud mining" services or get sucked into ponzi schemes or other HYIP style games.
The savvy investor knows a good opportunity when he sees it and seizes it. When you crunch numbers and realize that it's nearly impossible to lose money in the long term given the nature of this style of investing it's nearly impossible not to justify sticking some funds in and waiting for math to make you rich.. But how can math make you rich you ask..?
Invest in The Law of Large Numbers
( A well written definition of the law of large number - techtarget.com )
There are many sites on the internet offering casino games of chance but most of these types of sites have privately funded bankrolls and do not allow investments from the outside.
Note: Before I go any further for the sake of full disclosure it should be mentioned that I am a moderator on the site pictured below and have been for nearly a year now!
( a screencap of the chat and my profits - bitvest.io )
The House Edge is Your Friend
For those of you unaware of how gambling sites run a profit for the house need to understand the concept of the "house edge" and how it plays a role in creating profits.
Nearly every type of gambling includes this "house edge" which is essentially a form of subtle rigging of the game where the payout of the machine is less than 100% of the wager. An easier to visualize example would be a simple dice game, where the user rolls a random number generator from 1-100 but has to roll under 49 to win the bet. Off the get go the gambler may get lucky and hit many < 49 rolls, but as time goes on the subtle player will lose his bankroll because while it looks like a simple coin toss it is in fact weighted and more often than not you will lose given you don't exactly have a 50 /50 chance of winning but rather only a 49% chance..
Eventually those 1% of the rolls the house edge pile up or a loss streak come and wipes out your gambling bankroll! This is the key to casino style games profitability.
Putting it Together for Profit
Now.. If one were to realize that the law of large numbers coupled with a casino house edge means that mathematically over time you are damn near ensured profits, what's stopping you from investing? At one point in bitvests infancy I owned 6% of the bankroll (with 5x margin on) but these days I only hold ~ 1.25% of the bankroll.. Still not bad earnings though considering over the past year only had between 1 to 3.5 BTC invested at any one time.
Well, in the short term by bankrolling a casino you may fall victim to variance with gamblers winning.. However long term with the degenerate gamblers testing their luck over and over again eventually the law of large numbers slaps them in the dick and takes their money!
Passive Investing With Steemit Post Rewards
Make your money make you more money! An idle dollar is a waste and if your currency isn't creating more wealth for you.. You are doing it wrong! At bitvest the minimum investment is a low entry of 0.01 Bitcoin and you can withdraw your funds whenever you like. Personally keep majority of my BTC stashed in the bankroll and on average I see a 0.001 to 0.01 BTC a day return on my investment! Sometimes the gamblers do win though.. However if you hold steady and don't divest your bankroll out of fear the law of large numbers will carry you to profits eventually! What are you waiting for? Click the link or image below to check out this unique investment opportunity today, thank me later!
Check Out Bitvest.io & Start Investing Today!
 | VOTE @KLYE FOR WITNESSsteemit.com/~witnesses | |
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Thanks Klye, followin'
Rolling under 49 would be a 2% house edge :P 49.5 would be a 1%. Just cuz I got stuck being a single dad to your kid don't mean I can't math @klye. I is smart, I is special, I is kind.
You are correct.
I've been steadily looking into BTC casinos after a few members from here have been reporting good earnings. Diversify, diversify, diversify! It's all a big numbers game at the end anyways, so fuck it. Thanks for posting mane
The one above is run by a couple great guys and has steadily increased in popularity over the past year or so!
What made you initially choose it @klye over the others? :)
They had a rain bot and at the time I wasn't really making much money. Showed up as a gambler and ended up a moderator and investor. Certainly don't miss the days I wasted gambling though. Better to be on the winning side.
Hey man! Great to see you on Steemit! I've seen you around YouTube and Twitter but didn't realize you've got a Steemit! Right on.
Cheers mate :) Fantastic to see networking at its best here, I mean the more places you get your name out there, the better it'll get. Steemit definitely has a lot of potential
great post, thanks for sharing. safe investing is very important (:
I wouldn't share a site I was unsure of..!
Interesting, do you know how safe the bitcoin are in the hands on the website?
It's run by lightlord and zodiac. THe guys behind https://777coin.com/ which has been operational for YEARS. Not to say that they couldn't run off with your funds but I think they are trustworthy for whatever that means.
This is really awesome. I am not sure I have enough faith in myself to try it right now. I did just invest in eth and that was fun. >_> I've made $3 since I got it. LOL
When you invest you join the winning team basically. Gamblers chase their easy money while you laugh and drink their degenerate tears. Always side with mathmatics and you'll be fine. :D
dude.
"laugh and drink their degenerate tears"
Not cool.
Socipathic, even.
Addiction is a motherfucker. It is a hell. It is a prison of hopelessness and shame.
People become addicts (of all kinds) b\c they are trying to medicate away something emotional they literally do not know how to handle.
Judging them harshly does make it easier to justify treating them like shit, but it eats away at your humanity.
I don't expect you to agree with me, but food for thought hopefully.
I was once a gambling addict myself.. It's a crappy thing to be addicted to the thrill of winning money all while systematically losing it all.. However it's not a death sentence.
Personally I don't feel bad for those who continually piss their money away as I used to be one of them. The only difference is now is that I'm on the winning side backed by math.
You're talking to someone who's been there and done that man. I didn't mean to come off as a sociopath by any means but perhaps I've been through the ringer and realize the only thing keeping gamblers addicted is themselves. Know when to stop. If I can quit gambling basically anyone can. Take control of your life. :)
@tippy balance
@tippy tip garybriane 0.001 steem
Counterparty risk!
Some of us are waiting on decentralised casinos such as:
https://dao.casino
Ah, Fair enough. I've talked extensively with the developer and owner. Both seem like stand up gents!
1 BTC from 3.4 BTC is about 30% per year.
That is a very good return on investment.
I would only stake a little and not bet the house, pun definitely intended.
How much you should put in depends on your net worth.
The good thing about cryptocurrencies is that it accommodates small investers in the same way it does millionaires. The only difference is the size of the investment and the ratio.
Nice.. don't even have 0.1 worth of BTC from steem yet. But I'm open to the idea once I get there.
You will get there! I joined just a little after it started and had some great success with my posts early on. The more followers you end up getting the better off you will be post value wise. Hang in there and keep on STEEM'ing.
I stay away from crypto games unless they are provable in their fairness. Like the projects like rouleth
Tis provably fair. I agree though. It's the way to go.
Yeah, I didn't remember writing that so directed at your post. Talking in general.
hey klye great post, sounds like something to look into by the way i just added you and upvoted you, im new to steemit so i would greatly apprecitate it you could so the same for me thanks. keep the great content coming.
Nice article right there!
Btw. BTC
going up to 3000 very soon! :)
a great investment strategy, I might need to research more into this :) I see you've had a good rest and are happy and coding, great going!
Aye, It's not a bad site to invest your coins and have them slowly grow over time.
Hi @kyle, do you have tips on Bitvest? I've already reviewed their info about their investment model and to be honest, it's quite good. I do understand the risk though.
What risk level do you recommend for starters? :D
very good . deal .