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Kate

Primedice as the main wallet ?

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Ok so there area a lot of wallets or there like coinbase localbitcoins and Coinomi etc. But who he uses primedice as their wallet for all transactions ?

Well i do lol and i don't know why it just feels like even if you lose your Google authentication then you can still retrieve your account easily.  And also the fees for every transaction is so cheap just 5000 satoshi which is very cheap at this time of high fees.  

So anyone else here that use primedice as their main wallet ? 

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I don't. If I do that, I'll end up wagering it later xD 

The only thing that keeps me from losing it all from wagering is taking it out of here. Haha

Although there is a vault, it's a little bit easy and fast to transfer from one to another which do not exactly keep it away from gambling xD

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I was one of the people who used Primedice as my personal wallet. here I collect coin-coins that I get from other sites, and the coins that I collect here, I can also make it as a capital to gamble, even though some of me lost my coin, but I think primedice can also be our main wallet

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Not a bad idea to store coin on primedice vault, the vault is very safe so far your email is not compromise, because primedice have an email verification process in place should your account get hack. I think its a nice initiative coming from primedice.

Edited by Dboyeric

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Even with PD being one of the most trusted sites and existing so long (and I am obviously a huge friend of the site) I strongly believe using ANY online-service to hold your coins is not a good idea:

It goes against the most fundamental principle of Cryptocurrency - "Be your own bank". When you use any online service you rely on them, introducing a(nother) single point of failure. You don't even have to think of the owner running away with your coin (for PD they would be really stupid to do that, since the site constantly and reliably creates valuable income). A simple Internet outage, a man-in-the-middle or a phishing attack, your country blocking the site etc. etc. would all set you to the situation of not having access to your coins.

tl;dr: You coins are only yours when you have direct, immediate control over them without the need for any third party.

That all being said, I think for gambling money that you would deposit to PD sooner or later anyway or that is an amount you can afford to lose it might be a viable option nonetheless. Just think twice about it. :)

 

 

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Keep your bitcoins in your wallet, to which you have private keys, like PC or laptop. Best thing to do is to deposit to casino (i.e. PD), gamble, win and deposit back to you own bitcoin client. There were plenty of situations that exchange or casino was hacked from outside (or by insider ) and people lost a lot of money. Don't be that person, learn from mistakes that other people did.

If you really want to store btc on PD, I would deposit minimum, not all of your coins. Even if PD team is honest and have a great dev skills (which personally I believe), there could be person that would do nasty things and PD couldn't do anything about this.

 

EDITED: Hui posted before I finished writing which was interrupted by my kids, so I wanted to add, that Hui wrote exactly same thing. "Be your own bank",

Edited by hubinator

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As for the purse, yes, the commission for withdrawal of 5k satosh is a ridiculous amount and your bank’s PD, and I think with the bestchange exchanger, you can actually use the PD as a purse bank
Only here PD is not a bank, but a casino dice, and I LOVE to be loving and playing dice I will lose my entire bank)
So I think PD does not fit in roll wallet)😁

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6 hours ago, Kate said:

Yeah lol true there have been many people who stored hitcoins in pd as a wallet and ended up busting it later but if you are a person with self control then it is not a biggie.

oh yes, that  a good reason to keep it away from a gambling site if you just want to store it... self control is harder than you think!

Edited by Eminx3
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A couple of people have used pd as their main wallet and been hacked same with stake, I personally think primedice is one of the best choices of hot wallet now that there's an added vault feature because of the low transaction fees and instant wd processing  but still some form of 2fa or 3fa if desired for peace of mind.

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The reason I would not use Primedice as my main wallet is because you do not own the funds. By that I mean that you do not get the private key to your funds, so you effectively have no ownership of them until you send them to a wallet which gives you a private key.

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You know what they say - "not your keys, not your Bitcoin".

I wouldn't recommend keeping a lot of funds on PD for any lengthy period of time. You have plenty of security options, but you lose one of the core benefits of Bitcoin: decentralization. Any time there's a single point of failure like that, there's a possibility for something bad to happen, even if it's unlikely.

Additionally, PD doesn't let you change your TX fee based on the state of the mempool - at times, a few hundred sats is all it takes to get into the next block, but PD has a flat fee to guard against anyone locking their funds up due to withdrawing with an insufficient fee.

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On 12/06/2019 at 20:22, williamsh said:

The reason I would not use Primedice as my main wallet is because you do not own the funds. By that I mean that you do not get the private key to your funds, so you effectively have no ownership of them until you send them to a wallet which gives you a private key.

yes sir i agree 100% on that... also if there is a big whale ᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎that ᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎c᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎o᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎m᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎e᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎s᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎ and bankrupts the site... or if somehow site dies... so does your santoshi along with it :o

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1 hour ago, Eminx3 said:

yes sir i agree 100% on that... also if there is a big whale ᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎that ᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎c᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎o᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎m᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎e᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎s᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎᠎ and bankrupts the site... or if somehow site dies... so does your santoshi along with it :o

Yeah, I guess that could happen, but the maximum profit is capped at 15 BTC per bet I believe, so the chance of this happening is very low. Also I would assume the casino has insurance to protect them from this happening :)

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Well, I'm keeping some part of my coins in pd (and some other gambling sites), as much as I actually need it there. 

Most rule for me - "don't keep all eggs in same basket". My coins are splitted, between a lot of different sites/wallets. In worst case, I would lose just small part 😅

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Using Primedice as wallet is not great deal me . If I have some satoshi stored in PD wallet , I always wager them lost all everytime . So better to withdraw from this site and save it on other place .

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