Uncomfortable Balance in Stake Wallet

[GKD09]

Heya,

I wanted to know if any of you have an uncomfortable feeling when your balance is above a certain value on Stake. Like say you reach a profit of $50 which is like 500k sats, do you feel the urge to withdraw it, because you're afraid you'll lose it or the crypto price for that particular coin will crash and you lose a lot.

I was one who withdrew very often on other sites for two main reasons, one because I felt I didn't want to lose anything more than that and also for the fear of the site closing down  I know that doesn't happen usually, but back in those days on csgo gambling sites nothing was sure, so I almost always withdrew once I reached that uncomfortable balance amount. Which is usually like double my deposit amount at least.

But here on Stake I have realised that I don't tend to be worried about my profits, and I don't bother withdrawing because I trust my balance here. My balance is around 4x my deposit and I'm not worried at all. Which is probably why I am able to profit greater too. However, the only thing I'm worried about is the crypto price - I don't want to see BTC drop like $2k in a day or two, that shit scares me  

[KinAniK]

I always keep my balance in other account so that i can't gamble them lol

[wry]

11 minutes ago, GKD09 said:

I don't want to see BTC drop like $2k in a day or two, that shit scares me  

Welcome to crypto!  But to your point, the vault is also supposed to help with both protecting your coins, since you need an email to confirm withdrawal, and keeping you from inadvertently (or even intentionally) chasing losses.  The idea was to reduce the need for bank accounts.

Back to your original point, YES, I do worry sometimes if I ever have a "large for me" balance on Stake.  Not because I don't trust Stake, I obviously do, but if the site goes down for awhile, or bad guys show up, or I just have some kind of technical issue logging in, or they change the rules for withdrawing or something like that, I'd be out my coins.

Something like that happened to me at Nitrogen Sports - they changed the rules for withdrawal, support wouldn't help me, and so I lost my balance on there.  Fortunately it was pretty modest amount, but I now despise them.

[Bimfo]

Withdrawing depends on your state of mind and how you want to hit your target. MAybe because I have never experienced it, but I have always trusted stake and PD with my money and my balance, and I don't think they will change the rules of all the games or the withdrawal like that. I feel they will alert us and give us a week grace if any of such will happen.

And I have never felt so scared that the balance of will lose value because of the rate of the BTC. I have lost more before and I am just gaining. So there is nothing BTC wants to pull out of the bag that will surprise me. When it was at 20k$, and it started dropping, I brought and it reduced to 2k$, so you should see what I am saying. 

And I don't know why, but I trust Stake with everything. I just trust the crew and I don't just know why.

[GKD09]

1 hour ago, KinAniK said:

I always keep my balance in other account so that i can't gamble them lol

Like an alt?  Very well played lol

1 hour ago, wry said:

Not because I don't trust Stake, I obviously do, but if the site goes down for awhile, or bad guys show up, or I just have some kind of technical issue logging in, or they change the rules for withdrawing or something like that, I'd be out my coins.

Exactly, I have my full trust towards Stake and their staff. Just like @Bimfo said too, i don't entirely know why  And I believe and hope Stake would let their users know in advance before they make any changes to their withdrawals etc. I usually don't have to use the vault since I automatically stop betting or play small bets after I hit that sort of uncomfortable amount  until I withdraw some amount.

27 minutes ago, Bimfo said:

And I have never felt so scared that the balance of will lose value because of the rate of the BTC. I have lost more before and I am just gaining. So there is nothing BTC wants to pull out of the bag that will surprise me. When it was at 20k$, and it started dropping, I brought and it reduced to 2k$, so you should see what I am saying.

Holy shit! That's a huge ass loss. Probably a bad idea too to purchase when it's on it's peak. But this is one reason I don't trust bitcoin - its waay too volatile! 

[wry]

13 minutes ago, GKD09 said:

And I believe and hope Stake would let their users know in advance before they make any changes to their withdrawals etc.

I like to hope and believe that too, BUT...

Of course that was a long time ago, I hope Stake wont do anything like that again without telling its users in advance.  To their considerable credit, when they had to block players from the USA they still let them withdraw their coins, just not play or deposit, so I have to give them major props for that.

 

[FotisNt]

Well, that's the reason I dont use online wallets or apps when I want to hold an amount. Vault is safe for me so I save my coins in Stake, doesn't matter how weird it can be.  I do feel that I've the maximum safety in stake.

[Etude]

Yes I often do worry if my bankroll balance gets too high in amount where I might just start making silly high basebets on a whim and end up busting all of it. It has actually happened many times before. 

[CntryBoy]

As for me personally, I try not to leave any more that maybe $50-100 at the very most in my account if I'll be away for an extended period of time.  It's not at all that I think Stake is going to just up and disappear or anything, but things do happen such as downtime for maintenance, wallet updates and issues, etc.  I usually move bigger amounts to an external wallet just in case something unforseen happens and I need to get to it quickly for some odd reason.

[Babagucci]

It's funny because if I win a very large amount I usually will withdraw a good portion of it just out of habit. With the crypto space being so unpredictable with websites shutting down without notice or scams I always learn it's better to be safe than sorry. Of course in terms of Stake I know this casino will most likely be around for a long time and I trust the casino and owners behind it but never the less it's always better to have your money in a wallet that you have full control of.

Plus it keeps me from spending it too fast otherwise I would lose it pretty quickly. I learned that the hard way when I ended up winning $17,000 at another casino and gave 97% of it back within 4 days. Still get suck to my stomach when I think about it.

[Etude]

To come to think of it, this is also a good reason for why the Vault feature was introduced for where by at least you can treat it as a form of safe for your money on Stake.

[Kippo]

I don’t know that feeling because I’m just only target to minimum amount to withdraw every time I play. Sometimes I lose, sometimes i win and withdraws 

[GKD09]

13 hours ago, FotisNt said:

Vault is safe for me so I save my coins in Stake, doesn't matter how weird it can be.  I do feel that I've the maximum safety in stake.

6 hours ago, Etude said:

Vault feature was introduced for where by at least you can treat it as a form of safe for your money on Stake.

But the vault won't help you when BTC drops $2k in a day or two like it just recently did  from around $13k to $11k now. That is probably my biggest worry here at Stake. Busting is on the lower end. I used to gamble only with USD back then.

8 hours ago, Babagucci said:

Plus it keeps me from spending it too fast otherwise I would lose it pretty quickly. I learned that the hard way when I ended up winning $17,000 at another casino and gave 97% of it back within 4 days. Still get suck to my stomach when I think about it.

Damn thats a huge amount... I would definitely be worried if I had an amount like that on any gambling site, but not my bank or pocket. I would feel that someone would hack into my account.  

6 hours ago, Kippo said:

I don’t know that feeling because I’m just only target to minimum amount to withdraw every time I play. Sometimes I lose, sometimes i win and withdraws 

Thats a decent strat, but then you lose 5k sats every withdrawal if I remember right  I would probably go around the 100k to 500k mark  

[nattekut]

I personally never leave more than 50$ on stake If I end a session in profit.... which doesnt happen very often. Most of the times I bust or dont end in profits. I dont know why but I never store much balance on a crypto gambling platform compared to lets say for example pokerstars. I have been playing over there for many years and from time to time when there was a big upcoming series or when I made a huge win I sometimes held about 50k on my pokerstars account without feeling uncomfortable. but I think its because I know 100% sure PS is fully regulated and compliant with all financial rules. they also get a financial audit every month. Yes it is a fiat room and requires KYC but I feel very comfortable storing large amounts over there but never do on crypto platforms. Not that I do not trust stake or other crypto gambling platforms, just cause matter of principal.

[cukup2]

 

I kept my balance at the stake. I never complained about security at stake as long as I didn't tell my password to someone else. I've heard that there are also some people who have lost their balance in their account, there are lots of bitcoin and other crypto coins that have been stolen, even though the stake has provided a vault for storing their huge balances, because if our balance is stored in the vault in my opinion it is very safe and difficult to take by others.

[williamshennie9]

It really comes down to how you handle seeing that balance in your account. For me, I can have 1 btc in my Stake account, and not feel the urge to withdraw or gamble it. If you are going to gamble it, rather withdraw.

[GKD09]

17 hours ago, nattekut said:

Yes it is a fiat room and requires KYC but I feel very comfortable storing large amounts over there but never do on crypto platforms. Not that I do not trust stake or other crypto gambling platforms, just cause matter of principal.

Agreed. I trust Stake beyond all, but it is cyrpto that I don't trust one bit. 

13 hours ago, cukup2 said:

I never complained about security at stake as long as I didn't tell my password to someone else. I've heard that there are also some people who have lost their balance in their account, there are lots of bitcoin and other crypto coins that have been stolen, even though the stake has provided a vault for storing their huge balances, because if our balance is stored in the vault in my opinion it is very safe and difficult to take by others.

The vault requires an email confirmation to withdraw funds. Similarly you could also use 2FA which they keep notifying you and you are safe all round without having the need to keep your funds in the vault  

14 minutes ago, williamshennie9 said:

I can have 1 btc in my Stake account, and not feel the urge to withdraw or gamble it. If you are going to gamble it, rather withdraw.

I probably could too, but then I most likely will be making tiny bets so I dont feel the urge to keep increasing my base bet to recover. Also having 1 btc I would only be terrified by the fact of the changing btc prices. I mean this is how you can lose thousands in hours or few days. It's similar to trading if you have 1 btc and you're not sure when to withdraw. 

[nuuuitsjdragon]

I wish I was like you more often - and would always feel the pressure to withdraw, that’s a real good habit to have. 

It seems like I can’t get around not increasing my bet slightly when I get a win and playing at the same amount pre-win makes me feel I’ve lost out if the stars align in my favour and give me multiple wins. 

It seems like safety will always > snowballing on almost every session!

[zulfandina]

On 7/13/2019 at 3:14 AM, GKD09 said:

Heya,

I wanted to know if any of you have an uncomfortable feeling when your balance is above a certain value on Stake. Like say you reach a profit of $50 which is like 500k sats, do you feel the urge to withdraw it, because you're afraid you'll lose it or the crypto price for that particular coin will crash and you lose a lot.

I was one who withdrew very often on other sites for two main reasons, one because I felt I didn't want to lose anything more than that and also for the fear of the site closing down  I know that doesn't happen usually, but back in those days on csgo gambling sites nothing was sure, so I almost always withdrew once I reached that uncomfortable balance amount. Which is usually like double my deposit amount at least.

But here on Stake I have realised that I don't tend to be worried about my profits, and I don't bother withdrawing because I trust my balance here. My balance is around 4x my deposit and I'm not worried at all. Which is probably why I am able to profit greater too. However, the only thing I'm worried about is the crypto price - I don't want to see BTC drop like $2k in a day or two, that shit scares me  

hahaha ... the increase in the price of bitcoin isn't our business ... bro ...
we only use the coin ... if you don't want bitcoin to experience a weakening price in the stock market, then learn how, open the concept ... so that you understand the global crytocurrency market ... if prices can rise dramatically, and why can bitcoin prices fall the fall ... all of the knowledge ... not just origin

[GKD09]

21 hours ago, nuuuitsjdragon said:

I wish I was like you more often - and would always feel the pressure to withdraw, that’s a real good habit to have. 

It seems like I can’t get around not increasing my bet slightly when I get a win and playing at the same amount pre-win makes me feel I’ve lost out if the stars align in my favour and give me multiple wins.

Yeah true maybe that is actually a good habit and that may be why I don't bust way too often  Also, I've been on the green since I started gambling years an years ago, and I don't use my own money neither do I do it solely for money so, any amount I get afterwards is a nice bonus  

12 hours ago, zulfandina said:

the increase in the price of bitcoin isn't our business ... bro ...
we only use the coin

How is it not our business? If anything I think everyone should keep an eye on the price actions. If you deposit say 1/10th of a bitcoin even, if the price drops from say 15k to 8k, that's a lot of money. And what I am saying here is simply asking how many of you are worried of the price action. But if you have less bitcoins then it won't matter to you. But for one who has a lot it will definitely hurt. It's our money then it has to be our business to know...  

12 hours ago, zulfandina said:

if you don't want bitcoin to experience a weakening price in the stock market, then learn how, open the concept ... so that you understand the global crytocurrency market

So if I learn about it, btc won't experience price weakenings?  I know about the stock market, and I do trade stocks but not crypto or currencies. Either ways I know it can drop/crash just as easy as it rises, and I'm not saying anything about that. It's about once you reach a high amount do you think of all this and try to withdraw or you continue to play.

 

[dmbadillo10]

On 7/13/2019 at 4:14 AM, GKD09 said:

Heya,

I wanted to know if any of you have an uncomfortable feeling when your balance is above a certain value on Stake. Like say you reach a profit of $50 which is like 500k sats, do you feel the urge to withdraw it, because you're afraid you'll lose it or the crypto price for that particular coin will crash and you lose a lot.

I was one who withdrew very often on other sites for two main reasons, one because I felt I didn't want to lose anything more than that and also for the fear of the site closing down  I know that doesn't happen usually, but back in those days on csgo gambling sites nothing was sure, so I almost always withdrew once I reached that uncomfortable balance amount. Which is usually like double my deposit amount at least.

But here on Stake I have realised that I don't tend to be worried about my profits, and I don't bother withdrawing because I trust my balance here. My balance is around 4x my deposit and I'm not worried at all. Which is probably why I am able to profit greater too. However, the only thing I'm worried about is the crypto price - I don't want to see BTC drop like $2k in a day or two, that shit scares me  

Yea. Your example is a good one. Lets say I started at 100k sats bankroll, and I somehow reached the 500k mark, it makes me think twice whether I'm going to play still, or withdraw. Unless I really had a higher goal at the first place. And when that feeling or "thinking twice" scenario happens, I withdraw. Coz having that feeling and then going on playing always makes me bust at the end, or withdraw lower than to where I was. ✌🏽✌🏽✌🏽

[CheckTheTime]

Actually, I think I have a similar personality with you when it comes to gambling. At least I don’t worry about that btc will crash to 4K the next day though, but I would say I had similar concerns like you when playing. I don’t think there’s any problem with your mindset, at some point. I think it’s  a good idea. That you literally limit yourself, whenever I have a low balance. I don’t tend to bet a lot, or just play around with the least amount possible. Which significantly decreases the chances of losing or even if you lose, it won’t be too much. At last, keep it up. It is good after all.

[Filo07]

Yes, man. I experience that too even my profit is not reaching to what i want. so i stop for a minute to clear my mind if i gonna keep gambling/bet

[hillowner45]

As long as you got 2FA on your account your funds should be safe. In terms of the price and how long Stake will be around, no one can predict, those are factors out of your control.

[Shiest]

Shiesty ass uncomfy balances.