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5 Steps To Know How To Play Bitcoin Dice

Did you know that the third most searched term on Google today is “What is Bitcoin?”. For a person who has just heard about bitcoin and does not know of it, it’s obvious to take some time to understand the concept behind it, let alone its usage like in the best bitcoin roulette. However, if we start from scratch, you need first to understand what money is? Yes, money represents value, and in our long journey from stone to the 21st century, this value has taken many forms, and people have used a lot of different materials to represent money like salt, wheat, shells, and gold. All these values have been used as a medium of exchange.

However, moving with large chunks of these materials from one place to another is a hassle, and to solve this problem, people invented money. Now, these pieces of paper or fiat money are authorized and issued by some trusted organization or authority we now know as government. However, as time progresses and due to macroeconomic and technological changes, we move towards digital money. As of today, most of the world’s money exists in the form of digital currency by value, and our traditional paper money is reducing day by day. Even for daily exchange, people have started using digital cash with platforms like PayPal, Paytm, etc.

Now the question arises if money today is digital. If I have a file that represents a dollar, pound, rupee, or any other money, what’s stopping me from copying it a million times and getting million dollars. This is a significant problem that goes by the name “Double spend problem”, but was solved using a centralized authority like a bank managing your funds. There have been many attempts to solve this double edge problem using some other form of digital money. Still, no one could come with something that didn’t involve a centralized authority until bitcoins were introduced by a guy named Satoshi Nakamoto. This man single-handed suggested a system for creating an order for a decentralized currency called bitcoin.

Bitcoin was an instant hit and rapidly gained popularity and staus across the world. Bitcoin also gave rise to some of the world’s most amusing forms of online entertainment like bitcoin roulette, bitcoin dice, etc. All of these games, which seem simple imitations of the real casino games, gained rapid popularity as a factor of actual risk, was introduced to them through bitcoin money. Today, Bitcoin dice is by far the most popular bitcoin powered casino game available online. It is the pure form of gambling and trying out your luck online. If you are interested in having some fun online, then we bring you the best five steps to know how to play bitcoin dice.

Know Where To Play

The first step in playing a bitcoin dice game is finding a trusted online place where you can freely spend your money without any concerns about security or fraud. You find several online sites that offer this game, so can you choose any one of these websites? Some online casinos allow you to play bitcoin dice, while the others are specially created just for playing bitcoin dice only. We recommend you spend a considerable amount of time on knowing about the website you are going to play on and get familiar with the interface before you play.

Martingale

This is one of the most common bitcoin dice gambling strategies based on simple progression resulting in the most incidents of loose. Now you choose a bet that would give double of your wager, in case you win. If you lose, you play again by doubling your bet, and if you win, you will get back exactly what you missed. This creates a simple progression based on your loose, which is equivalent to 1,2,4,6,8,10…..x.

If you simulate this progression mathematically, you will have a clear idea about what exactly martingale is. Say you started with a bet of value x and you lose, now in next turn, you bet two times of x (2x), now let’s say you lose again, in next turn you bet four times of x, now let’s say you win you will be back to your original value.

If you don’t have good knowledge of probability, then martingale is the perfect strategy for you. As there is no way you would lose ten times straight in your game, that’s plain bad luck. However, there is a significant drawback to this strategy: it only works for people who have big pockets, as there is no saying when you are going to get your consecutive two wins to make a profit. You might lose everything you have in your pocket if you stopped playing at any moment before your first win. This strategy takes a tool in your pocket as every time you lose; there is an exponentially increase in the value you have to bet again ie, double. The progression factor clearly states that you must have a good backup for this strategy.

Paroli

This is another method for playing bitcoin dice based on progression. Unlike martingale here, we increase the wager after a win. This is also a simple progression where you double your bet after a win and return to your original wager value after you lose and after you have your third consecutive win. This is a simple yet safe play. This is a better approach for you if you want to play safely in the starting.

Betting On Odds

This methodology involves continuously betting on 95 percent odds of winning until it is doubled then stopping. This is a risky play as gamblers have nothing to rely on if they lose.

Betting One Percent

Another strategy based on pure probability is betting 1/100 of your total payroll or 1 percent 50 times in a row. This ensures profit in case you win once. This way, you don’t risk too much (or a big chunk) of your bet at once. 

About The Author

Hermit Chawla is a Marketing Manager at AIS Technolabs which is Web design and Development Company, helping global businesses to grow by Web Development Services. I would love to share thoughts on Social Media Tools Services and Game Design Development etc.

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