[...]
In short, changes shouldn't be rejected out of hand - but it's the responsibility of whoever suggests them to demonstrate the change is likely to result in increased EV. That's because any change which is negative to bettors is almost certain to reduce betting volume (unless very cunningly disguised).
Good points. My theory is assuming that: 1. the only competitor accepting large bets is satoshi dice 2.1. satoshi dice is experiencing turmoils, and getting out of flavour for various reasons 2.2. anyway, their rake is 1.9%, so if we raised to 1.6% we would still be well below them 3. whales will likely want to play somewherethe consequence would be: A. whales have nowhere else to go, and will keep playing here even if we raise the rake a bit I think the only "dubious" point of this theory is (3), but I don't think it's weak enough not to be worth trying anyway. So, if someone fears that increasing the rake would make the whales choose not to play anymore, fine. Other than that, I see no other reason to refute this theory.(that said, I think I won't press the issue any further) |
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Why not just mine bitcoins when you're offline and give bitcoins to farmers and skip the middleman?
This. The idea that a coin is needed for every particular activity is silly. More: it is utterly silly, it totally defines the purpose of money! The whole point of money is acting as a common base unit... |
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Not sure you can say this is a 'socialist' policy.
It's definitely a capitalist policy where the people who currently have the most capital are making the rules.
Also, if you want to call it a socialist policy, it would seem capitalists are happy with capitalism until they're made to pay for their mistakes, then it's socialism all the way...
This totally nails the point. |
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As deprived explained very well that is not the solution Lohoris. Please debunk his arguments instead of ignoring them and repeating your poor solution.
The solution for dooglus and all the others that find the whale too risky is to invest less of your capital in just-dice so that you are not feeling bad when the worst happens and the whale takes -80% of your investment.
I am very risk averse. That's why I keep my exposure low to any single investment, bitcoins included!
Deprived was answering to people that were asking for increasing the house rake for all bets. I agree with him. Later someone posted a list of competitors, noticing that most of them have quite low max bets, hence I proposed to increase the rake on bets bigger than that. Doing so would not hurt small bets (it would still be 1%) and likely it wouldn't hurt large bets either, since gamblers basically have nowhere else to go. Try to debunk this. |
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I'm sorry, but you doing such a thing kind of demonstrates that the design strongly needs to be adjusted.
I don't think it demonstrates any such thing. What it demonstrates is that I'm a pussy... I'm happy to let braver souls take on the whale, and plenty seem prepared to do so. Again, this is no reason to believe that "as it is now" is "just holy perfect" and that it can't be improved. |
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OP
Read the pirateat40 / Trendon Shavers thread.
That guy stole over $5M USD (at the time) from a LOT of people.
Everyone know EVERYTHING about him but no one when after him.
He's still living (probably very comfortably off the rising bitcoin price) in McKinney Texas.
THIS. Everything else is chitchat. |
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You deposited: $xxx
You'll receive: $xxx This is in USD? So investing would also short btc? obvious and stupid scammer, lol. |
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When I woke up, he had already lost one deposit of 200 BTC and was half way through losing his 2nd 200 BTC. I divested full as soon as I saw what was happening, and stayed divested until he lost the 2nd 200 BTC as well.
I reinvested, but then he started playing again, so I pulled out again until he finally lost his 3rd deposit of 600 BTC.
I'm sorry, but you doing such a thing kind of demonstrates that the design strongly needs to be adjusted. Sure, this will still be a risky investment, but it's no reason to let it be "as it is" instead of improving it. Increasing the house rake for the bets with high payouts is really a must and can't be avoided anymore, IMAO. |
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THIS IS NOT ME> THIS ACCOUNT HAS BEEN HACKED> ADMIN HELP NEEDED> HE CHANGED MY PASSWORD> PLEASE HELP BY EMAILING ME A NEW PASSWORD> THANKS!
I'm pretty sure your password is •••••••• lmao. Are we sure this account was really "hacked" and it's not him trying to walk out from his nonsense? |
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Hmm, well I have edited my post somewhat as I was deeply unimpressed with the blog post about the MMO, and the attitude towards people submitting artwork.
One can never know whether something will be a success, but you do learn to work out the odds.
Much better now! : D (was very good even before the edit, of course) |
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Can you actually sell into your own wall on btct or will it just remove the bids that you are trying to sell into?
IIRC you can but you pay the fee, of course. |
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Nah, I've no interest in getting into an argument about this.
A pity, it could've been quite fun! If you are considering investing, i believe I've pointed enough out so you know the right questions and risks.
Don't worry, I would never have touched anything related to mpoe/mpex even before both you and thestringpuller "clearly pointed out" what was dead wrong with his "plan" and his attitude  I hope the gaming industry will stop luring businessmen such as him, because they really hurt the industry as a whole :/ |
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Satoshidice was sold, is it just me or should we expect influx of new investors since ASICMINER is probably the only remaining noteworthy investment in bitcoinland today?
It's the main one, but definitely not the only one. |
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Interesting point. I really wouldn't have guessed that such a disclaimer would be considered worse than the horrible security flaws and quirks of bitfunder... |
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But then I feel bad for the invested bitcoin well honestly they will need the luck even if MPOE doesn't want it :
I guess you were watching thestringpuller convo haha
I think they deserve to lose them. If someone invests in an asshole, he is supporting that asshole... he's a bit of an asshole himself. |
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Why are still people delusional about this? You have been scammed, and you were stupid because this would have been a totally crap offer even if it wasn't a scam. Stop being delusional, that is annoying! You can whine, you can enrage, but please stop believing you'll see your money back, because if you really honestly still think you haven't been scammed, LOL wtf. Or, you can try to sue them. But I know you won't, you never do. *sigh*
This was a totally flawed business even if it wasn't a scam: "Indefinite time(Until hardware breaks), keep it simple and obvious." makes no sense, as I explained early in this thread.
Anyone who has invested here has clearly done it blindly without taking the time to actually read what they would have been offering.
At least BFL would have been good if it wasn't a scam, this wouldn't even!
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Somehow related to the Ministry of Gaming Bullshit?
Well its on the passthrus as the S.Dice replacement so best of luck To someone with that attitude, so incredibly arrogant and ignorant, trying to get into an industry he doesn't even try to understand, assuming he'll just be successful and everyone else is an idiot and will bow to him... no, I really do not with him best of luck. I'd rather see him plagued by the doom he deserves. |
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If you raise the house edge on bigger bets, you discourage the whales. It's different on a site that accepts bets pooled into a bigger prize. This dice site accepts single large bets from individuals. The individual is encouraged by the low house edge.
You raise it, he goes away. Where? I don't know where. He might come back if there are no other places to go, but are you counting on that?
Well, I don't think there is anywhere other than SatoshiDice that accepts large bets, and they have a 1.9% edge. So it's plausible that having a house edge of somewhere between 1% and 1.9% for large bets wouldn't need to be scare the whales away. Exactly. What about 1.6% for bets of 8 BTC or over? |
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I think this payout structure makes it even more likely that MPEx is the buyer.
Somehow related to the Ministry of Gaming Bullshit? |
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