Investors in the United States who wish to trade Bitcoin without having to buy the cryptocurrency have been given another route to the top-ranked virtual currency via Bitcoin Exchange Traded Notes (ETN).
Details of the Bitcoin ETN
According to Bloomberg, starting Wednesday American investors will now have access to Bitcoin Tracker One, and BTC ETN and Crypto Gambling. The product which runs under the CXBTF ticker will be quoted in U.S. dollars. However, the clearing and settlement of the trade will be in Krona and Euro since the product is listed and regulated in Sweden.
The ETN is issued by XBT Provider, a subsidiary of CoinShares. The company developed the product in 2015. In July 2018, Amsterdam-based EU speed trading behemoth, Flow Traders became the first company to participate in the BTC ETN market.
For Americans, trading is this particular Bitcoin ETN is like purchasing a U.S. depository receipt in that a foreign-listed asset is denominated in U.S. dollars. Commenting on the ETN, CEO of Coinshares, Ryan Radloff said:
Everyone that’s investing in dollars can now get exposure to these products, whereas before, they were only available in euros or Swedish krona. Given the current climate on the regulatory front in the U.S., this is a big win for Bitcoin.
ETN Might Represent a Soft Opening for Bitcoin ETF
The introduction of BTC ETN trading capability in the United States could be seen as a soft opening for the much sought after Bitcoin exchange-traded fund (ETF). The SEC has far remained unmoved in its reticence concerning issuing approval for any BTC ETF.
Recently, the Commission denied the Winklevoss twins’ ETF application while postponing its decision on the VanEck/SolidX, as well as the Direxion filings. According to the SEC, issues relating to liquidity, custodial tools, and price manipulation haven’t been sufficiently addressed.
ETNs and ETFs are similar in some respects as they provide an opportunity to invest in an asset without actually owning the asset. Such a trading avenue seems perfect for cryptocurrencies given their price volatility. However, a few subtle differences exist between the two. Rather than being an asset pool, ETN is more like a debt instrument that is backed by a bank or any other recognized issuing institution.
Do you think the Bitcoin ETN will gain traction in the American market? Keep the conversation going in the comment section below.
Ethereum Price Falls Below $300 as Cryptocurrency Market Tumbles – Crypto ICO Report NEWS13 Total viewsNo comments
The price of Ethereum has fallen below $300 as the cryptocurrency market enters a more intense bearish pullback. Except for Tether, all other top ten coins have experienced significant negative price movements within the last 24-hour trading period.
Ethereum Tumbles 17 Percent
Ethereum, the second-ranked cryptocurrency according to market capitalization sunk to its lowest 2018 valuation on Monday afternoon UTC. ETH has not traded below $300 since the start of November 2017. At press time, ETH has dipped more than 17 percent to take its 2018 decline to 60 percent.
The decline in the price of ETH is being attributed to the disillusionment of ICO investors. The sheer number of ICO exit scams and the amounts being siphoned by these pump and dump schemes has created negative sentiments in the ETH market.
Ethereum, the preferred platform for most ICO projects benefited from this fact reaching above $1,000 in February 2018. At the time, BTC was declining below $6,000. However, the tide seems to have turned as many of the ICO projects that generated interest in ETH, driving up its price have begun to cash out to cover expenses. Thus, the ETH is is starting to slide. Commenting on the issue, BloomWater Capital chief, Biswas Das said:
These startups are raising a lot of funds, but they don’t have treasury management or enough cash management experience, so they’re selling too early and causing a lot of pressure in the market. It was fine last year, but right now, the market is so fragile that it causes a lot of pressure.
The general bearishness perhaps exacerbates the ETH decline in the market occasioned by stricter regulations and the slow pace of institutional adoption. Experts believe that projects aren’t done cashing out and thus predict even more pain for ETH investors as prices sink even lower.
Bitcoin Dips More than 20 Percent in August as Altcoins Continue to Bleed
Bitcoin briefly slipped below the $6,000 mark in the early morning on Tuesday (August 14, 2018). The top-ranked cryptocurrency is now back above $6,000 at the time of writing this article. BTC has dropped more than 20 percent in August eroding most of the gains accrued in July. Bitcoin’s year-to-date decline now stands at 57 percent.
Positive sentiments leading up to the SEC’s decision on numerous ETFs drove prices up to $8,400 in late July. However, the Commission has either rejected or delayed approving the various filings brought before it. The consensus is that an SEC-approved Bitcoin ETF in 2018 is highly unlikely.
The altcoin market, in general, appears bleak as well with prices depreciating significantly. Cardano leads the decline in the top ten, falling more almost 20 percent within the last 24 hours. Outside the top ten, Ethereum Classic has been unable to maintain its upward price trajectory after a raft of platform adoptions. The 13th-ranked cryptocurrency is currently down by more than 19 percent in the last 24 hours.
How low do you expect the price of Ethereum to reach in this current decline? Keep the conversation going in the comment section below.…
Mason Malmuth is one of the most recognizable names in gambling for writing an incredible volume of information on applying skill to casino games. His book, Blackjack Essays, generally represents some of his earliest forays as an author and serves as a compendium of most of his contributions to the game of blackjack.
There are about 70 essays in this book dealing with a wide range of topics. Almost every one represented a new area of inquiry when it was written. Some now are well integrated into the corpus of general blackjack knowledge, some have been extended and elaborated on in other books, some represent the first foray into a still largely unexplored area, and some are still largely the last word on a particular topic.
The earliest essays in this book cover a concept Malmuth calls, “Card Domination”, which these days is more commonly called Shuffle Tracking. This is still a good introduction to the topic, although the Blackjack Forum series on Shuffle Tracking which appeared in about 1994 is far more thorough. However, I’ve recently seen shuffles which are trackable using Malmuth’s methods.
Another topic Malmuth explores in great depth is that of bankroll requirements or “Gambler’s Ruin”. Malmuth does a great job here of discussing why early blackjack literary figures probably underestimated the size of the fluctuations they would face. Of course, there was still room to explore these ideas in more detail in, for example, Blackjack Attack by Don Schlesinger. However, Malmuth’s writings on this topic are still valuable today, they’re just no longer the last word.
Malmuth provides what is probably the best currently in print description of Front Loading, good information on how to improve the profitability of casino trips, and, a Malmuth trademark, a thorough debunking of several mistaken blackjack myths perpetrated by other authors. Malmuth also provides some surprising results regarding biases, or “card clumping” that receives further attention in other books, but aptly demonstrates the author’s intellectual honesty in this volume.
On some topics, like Malmuth’s preference of shoe Slot Gacor games to hand-held games, and on his preference for more complex count systems, I disagree with the author. However, in these cases I do not fault his conclusions. Malmuth presents his case in a clear, straightforward manner listing the “pros” and “cons” of both sides of the issue and stating the reasons he believes his side of the debate is correct. By doing this he forces a reader who disagrees with him to articulate the reasons why, and, thus, does the reader a service.
Even though this book was first assembled almost 14 years ago, and some of its ideas have been expanded by other authors elsewhere, it still belongs in every serious blackjack player’s library. The ideas it espouses are, at their worst, worthy of serious consideration. I recommend it to anyone who has already learned and practiced a blackjack card counting system. Anyone who enjoyed this book should also read Gambling Theory and Other Topics, and anyone who enjoyed Gambling Theory and plays blackjack seriously should certainly read this book.
If you’ve learned and practiced a card counting system, have played in a casino, and are looking for extra advice, Blackjack Essays will likely be of considerable value. While it may not be the best supplemental book for the blackjack card counter (Blackjack Attack gets that honor), and some of its ideas are a bit dated or covered more thoroughly elsewhere, I still recommend it as a more than worthwhile addition to any serious blackjack player’s library.
Making diamond paintings is an easy and relaxing, enjoyable activity for all young and old crafters. But if you are one of diamond painting lovers, please pay attention to your health when you’re so interested in the works and stay still too long for drilling.
Although painting with diamonds has many good benefits to your health, it also comes with some unexpected problems. When you sit and making it for too long, there will be some problems to your health such as:
Back and Neck Pain
To help you prevent from getting these problems, we have found out some ways for you.
- Take hourly breaks
Every hour, get up from your desk or table and go for a quick walk anywhere. Just move. It will help you to reduce the stress to your eyes and also stretch your legs.
- Stretch or move in place
Don’t have anywhere to go? So you can stand up and stretch every half hour or so, touch your toes, walk or march in place for a few minutes.
- Set alarms on your computer or mobile device
Every hour of making diamond paintings, have a little ringer go off to remind you to take a stretch or walk to the nearest tree or neighbor’s house, or even walk/ play with your pet.
- Hit the water
Get yourself a reusable water bottle and keep it on your desk. Make yourself drink at least one full bottle before lunch, and one full one for the rest of the day. Drinking water will keep you fuller and less tempted to snack on empty calorie. More about Diamond Dotz
- Use some useful support tools
A light pad is more useful than you think! Many choices for you such as light pad A4, bigger A3, bigger A2…
Moreover, an adjustable folding table or a simple easel is amazing! Let’s see some experience shared by diamond painters.
Get yourself comfortable, grab a drink if you wish, and settle in because pai gow is probably the most difficult casino game to explain. Although the ranking of the hands is rather involved the concept of the game is quite simple. Once you get over the learning curve pai gow is a lot of fun, has a low house edge, and your money should last a long time at the table.
The Chinese have been betting on Pai Gow for centuries. Today Pai Gow can be found in casinos that attract a strong Asian clientele. It may be hard to find in Las Vegas but I believe every casino has it in Atlantic City. The Taj Majal, for example, has three pai gow tables.
If you are already familiar with pai gow poker then pai gow will seem familiar. Pai gow is played with a set of 32 dominos displayed below. Notice that some dominos appear once and some twice.
There is no significance to the color of the dots.
The object of the game is the same as in pai gow poker, to beat the banker. Unlike most casino games, in pai gow the player can have a turn to be the banker in which case the goal is to beat everybody else. The dealer also acts as a player in pai gow acting as banker in turn. When the dealer is not banking he will bet an amount equal to the bet the banker made the last time he played against the house bank. The dealer always plays his hand according to predetermined rules known as the house way. If a player wishes to bank but is uncomfortable with the financial risk of covering all other bets on the table he may ทางเข้า789bet request to co-bank with the house. If this option is selected his hand must be set according to the house way. The opportunity to bank is offered in turn to each player and dealer in a counter-clockwise direction.
The game is played with a set of 32 dominos, three dice, and a dice shaker. Play begins with all players making a wager. As the players decide how much to bet the dealer mixes up the dominos and puts them in 8 neat stacks of 4. Then the dice are rolled to determine who gets the first stack and then proceeds counter-clockwise. After the dice are exposed the player may not change his bet. Each player is given one stack of 4 dominos, which they are to arrange into two groups of two.
Each pair of dominos has a ranking. The player must decide how to arrange his dominos into the strongest possible pairs. Sometimes the choice is obvious but often a decision must be made whether to have a strong hand and a weak hand or two more balanced hands. At most there will be three possible and viable ways to play the hand. After a decision is reached the player should lay the dominos face down with the higher pair laying horizontally and the lower pair vertically. Only after all players have set their hands can the banker examine and set his dominos.
After all dominos have been arranged the banker and player will turn over their hands. Each player will in turn compare his hands to those of the banker. If the player wins both hands his bet pays even money less a 5% commission. If the player loses both he loses his entire wager. If the hands split, one win and one loss, then the bet is a push. After all bets have been settled the banker pays a 5% commission on the net win, if there was one.
How the hands are ranked is the complicated and there is no easy way to memorize the order. The highest hands are the matched pairs as follows. The highest pair, known as the supreme pair consists of the two wild dominos. Each of these wild dominos, known as “gee” may count as either 3 or 6 points if used individually. The Chinese name for the supreme pair is “Gee Joon” which is also the name of a restaurant in Binion’s Horseshoe in downtown Las Vegas.
- Supreme 2. Heaven 3. Earth 4. Man 5. Goose 6. Flower
- Long 8. Board 9. Hachet 10. Partition 11. Long
Leg 7 12. Big
Following in rank are certain non-matching pairs.
- Mixed 9 14. Mixed 8 15. Mixed 7 16. Mixed 5
Next in rank are special combinations known as Wongs. These combinations inlude either the 2 or 12 point domino and any 9 point domino.
- King of Heaven 18. King of Earth
Following the Wongs are other special combinations known as Gongs. These combinations inlude either the 2 or 12 point domino and any 8 point domino.
- Treasure of Heaven 20. Treasure of Earth
and or or and or or
Finally, if a pair, Wong, or Gong can not be formed then the hand is ranked according to the terminal digit of the total pip value of dots on the dominos. For example a hand consisting of a 12 and 7 dominos would have a total of 19 spots for the highest possible value of 9. The highest among these hands are the 6+6 and 1+1 dominos combined with a 7, known as a “high nine” because of their composition with one of the two highest individual dominos. In the event the player and banker have the same point total then the highest ranking domino in each will will be used to break the tie, the high domino wins. In the event that the high dominos are equal then the tie shall go to the banker. Note that the second highest dominos are not used to break the tie. There is an exception, in the event of a 0-0 copy then the tie will go to the banker. The following list shows every domino in order of their rank.
- Heaven 2. Earth 3. Man 4. Goose
- Flower 6. Long 7. Board 8. Hatchet
- Partition 10. Long leg 7 11. Big head 6 12. Mixed 9
- Mixed 8 14. Mixed 7 15. Mixed 5 16. Mixed 6
or or or or
Note that while the two wild dominos together are the highest ranking pair (the supreme pair) individually they are the lowest in rank.
There is no simple answer to what constitutes good strategy. Most of the time the correct play will be obvious. However sometimes the player must decide whether to weaken the high hand for the benefit of the low hand.
In his book Pai Gow Chinese Dominoes Michael J. Musante presents what is known now as the Musante house way which has influenced the house way of many casinos. Dr. John Gwynn later analyzed the effects of various strategies played against the Musante strategy. Assuming the player used the Musante strategy as well the house edge would be 0.6182% as the banker, 2.3896% as a player, and 1.5039% on average. Assuming the player used an optimal single strategy designed to defeat the Musante strategy the house edge would be -0.1387% as the banker, 1.6376% as a player, and 0.7495% on average. Assuming the player used two optimal strategies depending on whether acting as the banker or a player the house edge would be -0.1472% as the banker, 1.6225% as a player, and 0.7377% on average.
The most practical of these statistics for the novice player are those for the Musante vs. Musante. These figures also show that to minimize the overall house edge the ratio of money wagered as banker is much more important than the strategy used. Assuming the player banked half of his/her total bets and used the same strategy as the dealer and other players the house edge would be about 1.5%.
The House Way
Following is the house way for the Foxwoods casino. Of the three casino house ways I have I find this one to be the easiest to explain.
Always keep pairs together except:
Split supreme pair with 6-4, 6-5, or 6-6.
Split 2s or 12s to make 6-8 or better. Also split with 9&11.
Split 9s with any two of 2,10,12.
Split 8s with any two of 2,10,11,12. Also split with 9&11.
Split 7s with any two of 2,10,11,12.
Play 2 or 12 with a 7,8, or 9. With both a 2 and 12 play the 12 in the high hand. Play high 9 over wong and gong and gong over wong except:
Play wong over gong when fourth tile is 11.
Play wong over high 9 when fourth tile is 11.
Play gong over high 9 when fourth tile is any 4 or when third and fourth tiles are low (mixed) 8 and 5.
Make the low hand as high as possible. This includes playing the high domino in the low hand when given the choice. Exceptions:
If the low hand does not have a value of at least long 3 (a total of 3 with the long domino or higher) and a 7 or higher is possible in the high hand then make the high hand as high as possible. This includes playing the high domino in the high hand when given the choice.
If the two hands total 8-9 or more then play the high domino in the high hand.
2, 5, 6, 12: play 7, high 8.
High 8, low 8, high 4, any 7: play 2, high 5.
High 10, low 10, high 6, any 7: play 6, high 7.
High 10, low 10, high 6, low 8: play 6, high 8.
High 10, low 10, high 6, any 9: play 6, high 9.
High 10, high 8, 11, low 7: play 7, high 9.
High 4, low 4, gee (mixed 6), 5: play high 7, 9.
2 or 12, any 6, 5, gee: play 7, 9.
High 6, low 6, 11, gee: play 7, high 9.
High 8, low 8, any 7, 9: play high 5, 7.
Finally, there is an unwritten rule that you never play a hand in a way that an alternative would result in both a stronger high and low hand. For example with a pair of 12s, 6, and wild. The splitting 12s rule says to split to make 6-8 or better. However pair/9 beats 8/8 on both hand and low hands, thus overrides the pair splitting rule.
Play for Fun
Pai gow is a game that cries out for a way to practice before making a fool of yourself and blowing your money in a casino. For this reason please try my pai gow Java game.
Pai Gow Without Tears by Bill Zender. The author kindly gave me a copy of his booklet to help with my research on pai gow. If you are interested in the book it may be purchased from the Gambler’s Book Club for $20.00.
A Detailed Study of Pai Gow by Dr. John M. Gwynn, Jr. The author was gracious in sending me his study, which he no longer distributes, by e-mail.
The Foxwoods dealer, who shall remain anonymous, who provided me with the Foxwoods house way.
A child of the computer age, spanish 21 is a computer derived variation of blackjack. The term “spanish” refers to the 48-card deck used in some spanish card games. It is a regular 52-card deck with the four tens removed. Although, in most respects spanish 21 is played just like standard blackjack the basic strategy is somewhat different.
As a specially designed version of blackjack, spanish 21 had liberalized rules and unique bonuses. The casinos can be so generous in spanish 21 because removal of the four tens from the deck gives the house a large advantage. The changes in rules and payout were designed to attract jaded blackjack players and are what has made the game so popular. For instance, in standard blackjack, it is always exhilarating to hit a count of 21 on the nose. But it quickly turn into a disappointment if the dealer also hits 21 (resulting in a push instead of a win). In spanish 21, if both dealer and player have 21, the player wins.
A big reason why the casinos like spanish 21 so much is Unique Casino because it’s quick like traditional blackjack, and gives player about the same edge, while throwing off card counters. Not to mention the fact that the more liberal rules of spanish 21 attracts the players who have grown tired of blackjack.
slot machines history
The term slot machines was originally used for automatic vending machines as well as for the gambling devices, but in the 20th century the term became restricted to the latter. The first such gambling devices in the United States were mere novelties that did not return coins but presented gambling opportunities, such as two toy horses that would race after a coin was inserted. Such devices set on a bar in a saloon attracted wagering between patrons.
The first actual slot machines were built by Charles Fay in 1887 in a small machine shop in San Francisco. He built nickle slot machines by hand and rented them to the local gambling halls. His first machine was not, as some believe, cruder and bulkier than modern slot machines, nor did its reels carry the fruit symbols commonly used today. His original slot machine, called the Liberty Bell, was somewhat smaller than modern machines, and operate basically the same way.
Fay’s slot machines were a huge success, and he couldn’t build them fast enough in his small shop. Many larger gambling supply maufacturers tried to buy the manufacturing and distribution rights, but Fey refused. However, in 1907, Herbert Stephen Mills, a Chicago manufacturer of arcade-like machines, began production of a mahince very similar the Fey’s Liberty Bell. The Machine Mills produced was called the Operator Bell. By 1910, slot machines could be found in every cirt and nearly every hamlet in the country.
Forces of morality, and then of law, opposed the operation of slot machines. Throughout the 1920s, the slot machines were popular throughout much of the United States, especially in resort areas, and they continued to be popular into the Great Depression years of the ’30s. In the late 40’s Bugsy Siegel added slot machines to his Flamingo Hilton hotel in Las Vegas. Originally, the slot machines were installed as a way to entertain the wives and girlfriends of high rollers, but revenue from the slot machines soon began supplanting that of the table games. In the mid 1980’s the popularity of slot machines and table games were on par with each other, but by the 90’s slot machines had taken over and now account for over two-thirds of casino revenue in the US.…