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Without any ado, it's Magicdice (https://magic-dice.com/).


Magicdice is dividend paying casino on Steem Blockchain. Steem being one of the fastest Blockchains around, all transfers and results are done instantly.

Dividend word should have caught your attention, so how do you get them?

You get dividends by holding Magic token, and you get Magic token by playing on the platform (until SMTs arrive, that's the only way to get Magic token). The the more you wager the more you earn. Reward halves after every 5% tokens issued (so the sooner you get in, the better for you).

Current Magic token reward is 25 Magic per 1 Steem wagered.

Read more about Token mechanism (https://steemit.com/steemit/@magicdice/magic-dice-v1-3-the-magic-token-earn-dividends-by-playing-dice)

Dividends automatically gets accumulated to you everyday and can be withdrawn once you reach minimum — minimum payout is 0.001 steem/sbd.

To withdraw go here (https://magic-dice.com/dividends), you will see accumulated dividends, click on 'Claim dividends' to get it into your Steem account.

https://i.loli.net/2019/02/14/5c653ef0e8157.jpg

I have around 60k Magic and above is what I have accumulated in last 3 days.

Magicdice has 2% house edge and only Dice game is currently supported. There is no need of KYC whatsoever.

Tips:

— Only gamble you can afford to lose

— Use blocktrades to convert your BTC/LTC/Ether/.. to Steem/SBD instantly- https://blocktrades.us

— Use steem keychain for better experience— Introducing Steem keychain (https://steemit.com/steem/@yabapmatt/hate-putting-private-keys-into-websites-introducing-steem-keychain)

— If you use steemconnect to authorize your bets make sure to use your active key and NEVER owner key or master password.

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Let me know your thoughts in comments below!

As a full member you should be knowing that referral links are not allowed.

By the way this site look nice and I hope they make it to the top. Good to see that every other day we are seeing new gambling sites. This means gambling industry is huge.

Edit:
I think it's not possible to test the system without connecting the steem account.

I have removed referral links, sorry.

Yep, you will need Steem account to use the site.

Edit: You can use anonsteem to get Steem account without waiting (It costs 4 USD): https://anon.steem.network

You really think people have time to go through this while they have available other betting sites? I am not criticizing the site but I am trying to find a good reason for me to be a customer for them. These days people have so many options with betting sites.

If you read the post then you'd find the reason, and native Steem(it) account creation is slow so I gave option.

p.s. I didn't expect you guys wouln't have Steem account, it's social media of crypto world.

You will be surprised to know that there are a lot of people who do not use social media regardless its in blockchain or owned by an organization like Facebook. And still enjoying their life. I am with them too.

Cheers :-)

It's only interesting if you already have a Steem account.
For a dice site, it isn't actually all that great, several important features are missing.

There's no autoroll, so you have to bet manually each time.
The betting is not instant, you have to wait a bit before you actually roll.

Lastly, the website is kinda buggy sometimes, with your balances not updating.

Yes, it's been online for couple months, more updates should be coming.

Did you authorize the transaction using steemconnect or used steem keychain? You will see a roll animation, when used with keychain.

Hope I am not being a fanboy? Lol.

I use SteemConnect, I do see the roll animation but it's a little bit delayed compared to other casinos I play at.
The whole experience isn't that great, I mean you can't even autoroll, like I mentioned before.

Off topic question, do you make money with auto rolls?

This is an interesting one.
I thought blockchain gambling &  tokens issuance on blockchain is  ony possible on mosty EVM platform like EOS or Ethereum. How is this possible? Thought heavy activities can slow down the blockchain

The game is developed on the steem blockchain which is one among the best in the cryptocurrency network. This kind of gambling access keeps growing, more the tokens staked more will be the earning. Same as this on eos platform another gambling site bet50 is running. Every 5% of tokens issued halving takes place. That's impressive and these will not let these tokens circulation down.

Steem is much like EOS, on eos you need cpu/net/ram while Steem require steem power.

Btw, what you mean by EVM?

As other users are saying, I am too completely agreeing that Steem is one of the best in crypto currency.
But as Far a Casino is concerned it should more focus on serving the players rather making its own profit.
The UI and Interface should be frienndly for the user and therefore people will love to spend time there.
The Game's performance also plays a major role into attracting players to the site.
I will surely give a test to the site and will let my feedback very soon.

There is 2% house edge, rewards collected from it is used to fund the development and around 60% is distributed to players holding magic tokens.

Have you tried opening an account on steemit?  It actually not that hard or privacy demanding. Maybe they changed things recently... when I opened an account last two years nothing too private was demanded from me. You coud use anonymous username if you want to. It is not like normal social media like Facebook.

Native steemit account creation requires phone number to prevent abuse other than that anonymous accounts are possible with anonsteem, steemninja and from other such services.

You can also create directly with your account's RCs provided that you have enough sp (atm minimum is around 5k sp).

This is a promising project though casino on steem blockchain is a great idea. But yes, some of the people will still stick to the traditional and it won't change but this is really a great project and I will wait for it.
By the way, I don't have an idea of how steemit works.

Auto rolls doesnt mean about profitability it would always matter on users experience, Dice gamers will mostly seek out this feature.


Its actually high compared on most dice sites as of todays but its considerable yet 60% of it is being distributed with that dividend system.

So you have to spend 4 USD to have the convenience?
I don't think this is attractive to gamblers, personally I would prefer a gambling site where it's easy to access
or not having much requirement and would be better if I will receive a sign up bonus not that I will pay in order to sign up.

Not sure if I get it. How would you get the fun if it's on auto rolls and you don't care about profitability either.


Not necessarily. Go through native steem sign up process, it's free.

There are thousands of steemit users already, so magicdice is easy to access for them. Those who are not can become one or ignore.

It is good site but only useful for those who already have steem account. I am not a big fan of steem and I really do not see any reason to quit my current gambling site and try out this one. However, generally speaking, This will be a good addition and also it will make steem coin more useable.

Steemit is a cool initiative to support qualitative content about cryptocurrencies. I made an account there a long time ago, but I never started using it (maybe I will once). It's cool that there's a casino on steem blockchain now. However, I agree with other members that 2% house edge is a bit high, and that it's not very convenient that one needs a steem account to even start using the casino. After all, it's not like it's easy and fast to make that account, you know. And it might really scare off potential gamblers, because additional time-consuming procedures are not very encouraging.

I understand, house edge profits are paid to token holders so I guess it's okay :)

Having tried out Magic dice and collecting some Magic, I can say it's pretty good. Sure there is work to be done, however it's a nice start. Steem has a lot of potential and MAGIC is a glimpse of what the Smart Media Tokens could mean for Steem

Indeed, once SMTs arrive Magic and other Steem based tokens will be tradeable and that will probably take Steem Blockchain to new heights.

I never had a steemit account so I really do not know how it works however if it requires phone number then it's not for me. There are countries where phone number is connected with their national ID cards. So giving the phone number means you are indeed giving away your identification.

You can just use some third party apps that provide a temporary number . most of them are free  . you dont need to risky your own phone number if you were trully afraid that they might expose your identity online .

Anyway even if  have alot of simcards  . i didnt ever try to sign up on steemit because i see that their reward system were a bit too hard and im not really a good poster .

Or just use services such as anonsteem, they don't require anything sensitive.

Well, on websites that have autoroll with lots of features you can play different kinds of strategies.
It's also just very handy when you're trying to hit high multipliers, since those require you to roll quite a lot.

As an example, the autoroll feature on Crypto-Games:
https://i.imgur.com/CcSmjZC.png

Most people actually use that instead of the manual betting.

This is a promising undertaking however gambling on steemit blockchain is an incredible thought. Be that as it may, truly, a portion of the general population will in any case adhere to the customary and it won't change yet this is extremely an incredible task and I will hang tight for it.

Incidentally, I don't have a thought of how steemit functions separated from that customary utilization and procuring choices there.

Nice overview . basically im not a fan of autorolls because i dont have high a high bankroll on my gambler accounts  . i will just bet and play manually since im not also in a hurry .

About the steem blockchain . i never heard of it before but i do recognize the steem crypto and the steemit platform .

For now i guess ill only have to stick with the traditional gambling sites that are based on blockchain as they are more stable and and popular .

Magic-dice was my first step in gambling, so didn't know some sites provides such so many options, I'll give this one a try.

So I just tried the site, missing one thing imo is that switching sides on consequtive losses (that kinda works for me ha!) , for example if one losses 4 rolls in 'under 50' then it'd automatically change side to 'over 50' for 5th roll.

Anyone used the blockchain and won something ? What is the chances of winning on the blockchain?
Do the steem people have list of daily winners? I guess all these will encourage people to gamble?
What is the price of magic token?

magic-dice has 2% house edge, and you can see winnings/losings on site. No price of magic-token atm, once SMTs arrive they will have price.

Magic-dice update: https://steemit.com/steemit/@magicdice/magic-dice-v1-6-leaderboard-over-120k-steem-in-rewards
 
Main points:

- Magicdice has now leaderboard. Top 15 places daily will win magic tokens.

- Updated token distribution. Now, token distribution rate will be halved after every 10% of token issued.

- new game coming soon (lottery or crash).

And don't forget to resteem for a chance to win 300 Steem and 500k magic tokens.

That's all for now. Will keep you guys updated.

Magicdice just pulled an exit scam, and ran away with about 550k steem.

ps: I'm sorry, I'd never thought they could pull an exit scam :(

Well, the scam is seen since 4 months ago.

I ignored it thinking it was a fud.

Well, it's maybe fud, but I don't see any possible explanation besides this. And dang why would @zombee the owner of MD decide to exit scam with only 20 BTC in his bankroll.
Anyway, all the fund look like send to Bitrex now, maybe there some authorities can track it? I mean bitrex need KYC to do big transaction right?

Yes that's right, and afaik funds were sent to the binance account (deepcrypto8). It should take him a while before he manages to withdraw all with unverified account.

Ah yeah I mean binance not bitrex, and I see some hot article at steemit about epicdice now, you know since magicdice do that exitscam yesterday people talking about alternatives platform now. there also steem-bet. never play at both of them but hoping its better than magicdice.
https://steemit.com/epicdice/@blocksensei/7-facts-about-epicdice-vs-the-vanished-magicdice

Although magicdice exit scammed, it was most 'stable' gambling dapp on steem. MD dev just killed the golden goose no other current gambling dapp comes near it.

Yeah, how stupid can you be, I mean all they had to do was just wait and they would have profited no matter what...
I've heard rumors that it might have been the guy behind Dmania who ran the website, not sure about that myself though.

I'm glad I pulled my delegation a couple of months ago, but I did have a couple of referrals.

This may not achieve what it seeks to achieve if the incentive it too small and the gambling platform is not as easy to use as the Centralized ones.
May not be able to attract the important gamblers

Fear and doubts cant really be avoided due to recent exitscam but trying out isnt really that bad at all.MD did really waste up that opportunity to go for long term
and deciding to scam in the end of the day.

There are already some various platforms when it comes to gambling and its good to see that there are lots of options to choose from and other
platforms is really quite attractive.

Read some recent posts, MD exit scammed.


Agree, I myself earned some profit from it, those magic tokens were just an extra.

However, there were many players who tried real hard to rank up on leaderboard to take part of daily 20M magic, thinking that it will bring passive income in future and lost a quite a bit of funds. I feel sorry for them.

Guess, lesson learned.

So this was never really a Blockchain thing? Thought as a Blockchain gambling, funds are supposed to be decentralized rather of being held by a third party?
I think it is high time people stopped using the Blockchain tag carelessly. Scammer can hide behind the name to decieve and scam Blockchain enthusiasts

All for the greed of money. And feel sorry for all the users that are expecting to have passive income on this platform. Passive income will only be true if the project can assure the continuity of their services. But yeah, they are no different from other scammers. A user should be very careful in investing passive-income related platforms.

Whom really would thought that they would end up on that way? On each competition it is just a common thing for people to strive hard to get the spot yet we know that these positions do have corresponding benefits and also into this platform we do know that possibility of passive income but they turn into the opposite way.

Betting was done on blockchain, but dividends accumulated on your tokens were on MD platform.

Without a doubt it's pretty and all, but I see no real reason for something like this existing in the presence of tons of either coins that do the same thing. Do you really think that there is substantial demand to be able to support this?

I think most people are going to answer no to that, as they can see that something like this is doomed to fail. People are going to use BTC, XMR, BCH, and so on and so forth to bet. They're not going to use Steem.

I wouldn't waste valuable resources creating this and maintaining this, you could focus on so much more.

I am lucky that I did not find their site early. However, though I found their site, I did not use it. Many gambling site as well as dice games offering in other sites, I prefer to play with them at all. Maybe, it is a warn for us that we should not give our hunder percent trusts with this scam platform. We knew that online investment and gambling is too risky.

What are you talking about? Have you just missed everything that was said in the last 10 replies or so?
Magic Dice doesn't exist anymore, they have scammed.

That said, your comment doesn't even make sense, dice does work on Steem. There are numerous other services that do work and which are pretty popular.

Was just posting on the original post and hadn't read the posts thereafter, which I must admit is my mistake. So I'm sorry for that.

I don't understand why a site would exit scam for around $150k USD. Doesn't seem worth it to have people wanting your blood, law enforcement chasing you, and for you to never be able to get another job in the crypto world again.

THOUGH my original point stands. This was a stupid idea. There's no need for a steem dice site. We have other sites, and all this was was an attempt to lure in people with steem bags to make some 'passive income' and then steal it from them. The site itself obviously wasn't making enough to support the 'dividends' (bs dividends) that they were giving out.

Steem users would use their own platform, rather than converting their steem/sbd to other coins and going to gamble on other platforms. It makes no sense.

Indeed, and that's exactly the reason why EpicDice is doing so well.
Most Steem users tend to exchange their coins through Blocktrades and they charge a significant fee.

Bittrex or Binance are also used, but it takes a bit longer to get your coins exchanged.

So yeah, it makes perfect sense for there to be a gambling site which is native to Steem.

Yes, epicdice seems to be doing very good. Open source code, steem connect integration and over/down sides are good editions.

People are quite hesitant to come due to low prices, which affects dapp userbase. Hope it survives when altcoin's time arrives.

More users, more dividends :)

Might be good time to gamble on epc token right now. Can't say for sure as you never know what future holds.

I think many of them still hold steem and don't gamble with the coin because they have many other top altcoins. But we don't know how many of them who still use steem as the bet. Maybe if they can enjoy using steem but I don't use steem to gamble, and I still prefer to use the top altcoin which is easy to use in the gambling website.

The top Altcoin remains the top choice as their betting coin, well because some well-known gambling sites use the top altcoin on average compared to Steem. Maybe here only gambling players from MagicDice will try to bet with Steem. If we look at some well-known gambling sites such as windice, crypto games, sportsbet, stake and some others still use the bitcoin or top altcoin.

I don't know about that, a lot of people on Steem do not hold any other crypto I think.
I've met quite a few people there who are mainly in it for the blogging and community aspects of Steem and they only hold Steem.

Would you mind elaborating, how exactly dapps over there are centralized?