Spolier alert: I'm dropping my final consideration on Betfury also here on top, so that you'll decide to go further or not. I believe Betfury is a legit project, and making money out of it is not as easy as it may sound. Before joining, you'll just need to figure out if Betfury is an investment or a gamble for you, because it can be easily both.
For those who may not know, Betfury is a very innovative Hybrid I-Gaming and Gambling platform. Based on the Tron Blockchain, it was founded a little more than one year ago by professionals of the betting industry.
The main concept of the platform is easy: every user is not just a gambler, he becomes an active member of the community and part of the project, being able to earn from a dividend pool filled everyday by Betfury with part of the total wagers on the site.
This pool is part of the dividends system, a mechanism of profit sharing among players. This mechanism turns every player into a owner of the platform: with every bet the player is mining "BFG" token, which can be staked to generate a fix income form the pool.
This concept, more than the gamble activity which I personally don't like at all, attracted me and convinced me to try the platform.
Users can start by using a faucet to claim a few satoshis for the very first bets, learning how to use the platform. Furthermore, users can earn form participating in weekly challenges, rankings and by referring users.
Is the model sustainable?
Beware: if you have any experience with cryptos or money managing, you'll know that these are all the elements for a Ponzi. I actually do not believe Betfury is a scam, for a few reasons:
- faucets earnings are slowly decreasing over time
- dividends are decreasing with BTC recent bull run
- BFG tokens have a max supply: 5,000,000,000
- BetFury team conduct a monthly BFG token burning process. Planned burnings increase the value of BFG native token, keeping the balance between holders and developers
- Project does not like a scam: the website has a solid development, social networks are active, the platform is launching news every week, users are satisfied.
I really would like someone very expert with math and numbers to explain me if the model is sustainble over time. I leave a link to Betfury whitepaper here, so you can make you own considerations.
Do you want to use Betfury as Faucet?
This is actually what I'm doing, since I don't like gambling. The process is quite simple: you can claim 10 satoshi every 10 minutes that you can leave on your balance or bet. Every 8k satoshi that you bet you'll mine a BFG token. After 10 BFG token owned, you'll start earning from the pool, according to this table.
There's people earning a lot of satoshi everyday just from the pool, you'll see a lot of these guys on Youtube: but please consider that to earn such a good amount of crypto they invested a lot in the platform.
Another aspect you should consider is that mining BFG tokens on the platform might just be harder than it sounds.
There's this trick with Dice games, where you set your probability to win around 95% and you let your autoroll roll for the longest time possible: your target is to mine the BFG token, not to win. On a long period of time you'll lose all of your balance but you'll have mined the highest amount possible of BFG tokens.
You'll see a lot of tips like this, also here: it just doesn't work like that. Although the games are probably fair, Betfury must have an anti fraud system or something like that to discourage people from just set the auto-roller and than forgetting about it.
You can try by yourself: just set the probability on the highest possible in a few games and you will lose your savings way before than expected.
Final conclusion
The more I use this platform, the more I think it's legit: the reason why I believe it is that making money form it it's just harder than what it looks like. It may sound like a golden goose: it's just not.
I think you just need to understand this very well before deciding to use it or not: Betfury is half a gambling site and half an investment platform.
Before investing a big amount of cryptos, just think if you're doing one or the other.
This article was originally posted on my blog on Publish0x
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Posted Using LeoFinance Beta
I have been using Betfury since about Sept. Doing the take the faucet, play dice, mine BFG. I have been a bit disappointed to see my profits dipping every day, but since they have included ETH in the staking payout, I have been happy to see that growing very quickly and am interested in where it might end up in the future. My goal has been to continue to mine for the rest of this year, and then turn towards taking the dividends till they stop.
Posted Using LeoFinance Beta
Same for me. I'm really not into gambling. I'm just trying to figure it out if Betfury can be a good investment. I will use it for a while and then decide if it's worth my time or not. I took a look at your blog, great content! I'll follow you! Cheers!