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The future of Stake

williamshennie9

By williamshennie9
in Casino Discussion

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williamshennie9 Grand Master

williamshennie9

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Posted

Hey everyone :)

So as you all know, the market value of crypto currencies across the board have all taken a huge knock in terms of their value. I was wondering what the future of Stake will be like if bitcoin drops to $2000, or even less, perhaps to $200. Will Stake still exist? What are your thoughts, also, admins, mods, developers, feel free to chip in and give your thoughts. Will Stake shut down if the price of bitcoin goes lower than a certain point?

I would love to hear what you all think...

Snike Proficient

Snike

Posted
Posted

Stake made huge profits over this first year, at least I think so. If that's right, they should survive any kind it huge drop in value for btc. They wouldn't get anything out of it by closing their casino so I don't think stake would shut down. 

blueprints Proficient

blueprints

Posted
Posted

Yeah I dont think they would stop operating. I would hope that they would bring bigger faucets and raise the promos and bonuses up to keep the values the same, but something tells me they are only willing to decrease not increase lol.

williamshennie9 Grand Master

williamshennie9

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36 minutes ago, Snike said:

Stake made huge profits over this first year, at least I think so. If that's right, they should survive any kind it huge drop in value for btc. They wouldn't get anything out of it by closing their casino so I don't think stake would shut down. 

This is interesting. On a stream a few months ago Eddie said Stake broke even in the first year. Hmm, I wonder.....

jualid Mentor

jualid

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Posted

I think stake will still available even the bitcoin price dropped so hard. It's depend though, if cryptocurrency really dead, then stake might be dead too? cmiiw.

nuuuitsjdragon Mentor

nuuuitsjdragon

Posted
Posted
2 hours ago, williamshennie9 said:

Hey everyone :)

So as you all know, the market value of crypto currencies across the board have all taken a huge knock in terms of their value. I was wondering what the future of Stake will be like if bitcoin drops to $2000, or even less, perhaps to $200. Will Stake still exist? What are your thoughts, also, admins, mods, developers, feel free to chip in and give your thoughts. Will Stake shut down if the price of bitcoin goes lower than a certain point?

I would love to hear what you all think...

I don’t think Stake will be affected to a large extent as I believe they should have safety measures (eg. Lower faucet amounts) put into place for a declining market such as the one we are in now. 

Since Stake does not really offer bonuses and more importantly, control the availability of giveaways and such... they are well-protected as funds can only go in but not out. 

In this way, they can tide through most calamities and weather out the extreme variance of the Crypto market. Lower overhead costs help a lot as well. 

Bear in mind though that this safety net will only break in one situation - if Cryptocurrency becomes worthless in future. Then again, I’m sure Stake has a decent portion of their funds hedged in other areas as well, right? 😜

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Flan Veteran

Flan

Posted
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Posted

I'm not talking about the fall of Stake when crypto falls too. Stake will continue operation with some cryptos if bitcoin went down too much. 

Donations and big advertisement are made in this year. Stake wouldn't fall because of that. It was a beginning for Stake to step into the best casino.

blueprints Proficient

blueprints

Posted
Posted
16 minutes ago, KiXxnTRiXx said:

I'm pretty sure Stake will still be around. Even if BTC drops low, as new coins will rise. Stake will just have to implement whichever it or they are. :)

Oh true if BTC died they would just substitute it with some other coin, but hopefully that will never be the case. 

Kate Grand Master

Kate

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What is it all with the shutdown ? Seriously you think that this big of a site that donates 1000$ every week will just shutdown because of a price fall ? When price falls people would preferably gamble a bit more than usual with a bigger balance which would create more giveaways and create more pool prizes for the challenge in my view. 

wngo123 Mentor

wngo123

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Posted

>  I was wondering what the future of Stake will be like if bitcoin drops to $2000, or even less, perhaps to $200. Will Stake still exist? 

Of course it will and I don't think the value of specific currency has anything to do with it. You can play dodgecoin which is worth nothing and still deposit big using dodgecoin or win big using dodgecoin so it doesn't matter if the bitcoin will be worth $1 people will still play and stake will still make money. But if bitcoin or some other currency crashed let's say within a couple of days then probably they will probably put that specific currency on hold for a while. When it comes to how they protect themselves against such situations that's different story.

williamshennie9 Grand Master

williamshennie9

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4 hours ago, blueprints said:

Oh true if BTC died they would just substitute it with some other coin, but hopefully that will never be the case. 

I didn't think of this point. That makes perfect sense though. I guess the only thing that could actually cause Stake to completely shut down is if all cryptos across the globe suddenly lost all their value, something that will never happen.

Snike Proficient

Snike

Posted
Posted
7 hours ago, williamshennie9 said:

This is interesting. On a stream a few months ago Eddie said Stake broke even in the first year. Hmm, I wonder.....

I highly doubt stake isnt in profit... xD If you compare the big loss to big win ratio they should be in profit but idk to be honest. 

I still doubt stake would shut down if btc drops.

blueprints Proficient

blueprints

Posted
Posted
2 hours ago, Snike said:

I highly doubt stake isnt in profit... xD If you compare the big loss to big win ratio they should be in profit but idk to be honest. 

I still doubt stake would shut down if btc drops.

Yeah they could keep making as much money as they are  now with any coin. I doubt bitcoin is a limiting factor. 

wry Proficient

wry

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Posted

I don't think the decline in price will hurt Stake.  There were crypto gambling sites when bitcoin was $100 USD, so I don't see any reason why the price decline would effect Stake.

Now if the price drop was driven by some other development, e.g. a hard fork or a serious privacy breach, that could hurt Stake, but that is now what we are dealing with today.

Mikehoncho Community Regular

Mikehoncho

Posted
Posted
19 hours ago, nuuuitsjdragon said:

I don’t think Stake will be affected to a large extent as I believe they should have safety measures (eg. Lower faucet amounts) put into place for a declining market such as the one we are in now. 

Since Stake does not really offer bonuses and more importantly, control the availability of giveaways and such... they are well-protected as funds can only go in but not out. 

In this way, they can tide through most calamities and weather out the extreme variance of the Crypto market. Lower overhead costs help a lot as well. 

Bear in mind though that this safety net will only break in one situation - if Cryptocurrency becomes worthless in future. Then again, I’m sure Stake has a decent portion of their funds hedged in other areas as well, right? 😜

How does Stake not have bonuses? The rain, social network giveaways, the email codes, the weekly challenge, pay to post forums?

I feel like stake is generous with the bonuses. 

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Edward Grand Master

Edward

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Bitcoin price lowering definitely does affect all Crypto related businesses, most likely in a negative way. We can notice a correlation when it comes to USD volume decreasing when Bitcoin takes a dive. 

This would likely never cause Stake to shut down. We do however have large expenses (Mainly development staff) which could end up being cut if profits were to decrease too much. That would simply mean we'd have to move things a little slower is all. As long as there is a market out there looking for fast & most importantly fair betting, we should be okay. We're lucky to offer a unique product which isn't being properly done by many (if any) competitors. 

None the less it'd be nice to see Bitcoin bounce back, it'll definitely make my vision for Stake easier to achieve

Furlicious Collaborator

Furlicious

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Stake has lotsa loyal supporters / game fanatics, like me, since day 1 and still growing strong. I doubt the dip in btc rate  will affect much in their business. In fact they should hv more revenues coming in since most players will deposit more as its cheaper.. 😄

imaginary Enthusiast

imaginary

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If anything, the lowering price gives users the chance play with more BTC now compared to when BTC spiked. I’m sure people will like this. I am already noticing that people are playing with more LTC lately due to the price drops. To me, that means more possible playtime on stake! 😜 

irawk0 Enthusiast

irawk0

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There is a silver lining to the crash of BTC and all crypto. With everything being so cheap, people are much more likely to invest/buy crypto to gamble. For example, 0.1 btc was $660 before and now it's roughly $420. This means everyone who deposited 0.1 before could do the same now and still have $240 leftover, or deposit 0.15. This means more crypto profit for Stake so it'll definitely be good for business, especially when in the inevitable future (IMO) crypto goes back up again 😛

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