If I double my funds, does that still accrue for house investment?
You need to "Move" the investment to your account when you have made a good profit. |
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If the website is compromised (which is highly unlikely since we follow the highest standards of security) then you lose your investment, it obviously DOES have risks like any other investments out there so people need to be adults about this.
Thank you for your explanation. I just wanted to make sure we understood all possible risks. I can't assume things like this, because some sites like CoinLenders promise to reimburse from the personal funds of the admin in case investments are lost. Regarding your strategy with the IP addresses and contacting support, it does sound quite secure but I think you should look into user accounts with 2FA in the future so that support is not overwhelmed by the complaints of users with dynamic IP's ( this problem is only going to get worse). I won't be investing, but good luck!  Thanks! If the website is compromised (which is highly unlikely since we follow the highest standards of security) then you lose your investment, it obviously DOES have risks like any other investments out there so people need to be adults about this.
I won't be investing, but good luck! Fuck it, i'll throw 0.10 BTC at it for a day and see if I get any returns. I'll report back here! You are an early investor so chances are you're going to more than double your funds. |
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Say you invest 0.1BTC when there is a total of 100BTC invested, you now own 0.1% of the bankroll. If a whale comes along and loses 10BTC, you now own 0.11BTC (0.1% of the total 110BTC) so you will be able to "Move" the funds to your main account and withdraw from there, you will always profit in the long run despite any momentary negative balances because of our house edge.
Fixed that for you. Total invested BTC looked like a low estimate, or at least I hope for you. Or do I really hope ? Hmmm... Maybe not. Currently the total invested is at ~17BTC, so you can buy most of the bankroll for pretty cheap. |
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No, the account key is only accessible through your IP, the chances of the account getting "hacked" are about as big as someone bruteforcing your private key.
This is not what I asked. I asked what you would do if the CasinoBit website itself was compromised. However, this raises an even bigger issue. Based on this explanation, if an investor has a dynamic IP address or switches ISP's they lose their investment? You might want to rethink this system and just use accounts with passwords and 2FA like Just-dice.com. I wouldn't want access to my investment/balances to be dictated by my ISP  You can always contact the support in this case, point is that the account is always accessible from just 1 IP and it is likely to remain so. If the website is compromised (which is highly unlikely since we follow the highest standards of security) then you lose your investment, it obviously DOES have risks like any other investments out there so people need to be adults about this. |
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CasinoBit, please explain to me in detail how the investment works. Let's say, I invest 0.10 BTC today. What will my return be in 24 hours, 1 week, 1 month, 1 year? How, exactly is it calculated? I need to see numbers please. The short explanation on the website is vague.
Say you invest 0.1BTC when there is a total of 0.9BTC invested, you now own 10% of the bankroll. If a whale comes along and loses 10BTC, you now own 1.1BTC (10% of the total 11BTC) so you will be able to "Move" the funds to your main account and withdraw from there, you will always profit in the long run despite any momentary negative balances because of our house edge. The results are also provably fair so there is no possibility of us making it seems as if someone is constantly winning. |
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I'd change my vote to Insanity Dice if I could.... Only reason it isn't beating SD is because you didn't add it till later  Thank you for your input, for support please email us at blobsrs@casinobit.net |
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We have had a whale betting systematically recently winning 36BTC, 24BTC, 24BTC and 24.75BTC. (we have had just 1 large winning at the time) This had lead the administration to take swift action and implement an investment system to let players become the house! If you would like to invest you can now open an account and do so effortlessly.
The dreaded whale, those will get ya. Investing seems like the new popular feature for casino's to have now. Men the harpoons! Whales winning left and right! Yes, it's a pretty good idea and anyone who doesn't implement it is left behind. |
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What is the maximum win for players?
What is the house edge? (assuming 2.70% because it's single-0 roulette)
What happens if the wallet holding the BTC is hacked? Can we expect to be reimbursed by you?
Is your investment figured in to the total?
Currently 2*36=72BTC 2.7% standard roulette house edge, no European half-back rules apply. No, the account key is only accessible through your IP, the chances of the account getting "hacked" are about as big as someone bruteforcing your private key. Yes, the bankroll is then used to allow for bigger bets. |
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2013 - Bitcoin becoming the legal tender of U.S.
2014 - The U.S. government tightens the regulations on Bitcoin after a group of pedophiles were busted.
Late 2014 - Additional regulations are implemented in order to protect the children!
2015 - As the chances of a Bitcoin funded terrorist attack grows Bimbama implements a killswitch for the whole Bitcoin network, 51% of the power is gained by multiple supercomputers fully funded by the taxpayers!
2016 - As unemployment grows the U.S. decides to implement a mechanism of creating new Bitcoins out of thin air!
tl:dr same thing happens to Bitcoin as with USD.
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Not until there is an extremely cheap widespread device that can send Bitcoins person-to-person and a strong wireless internet connection there.
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Open a thread on Bitcointalk about the judges ruling and get a philosophical thread about what is money and what is the meaning of life.
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Not as safe as scribbling the private keys on the back side of the edges of the wallpaper that have come off the wall in your restroom like a true cryptoanarchist!  |
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It was Satoshi making sure you didn't forget he's watching you |
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Bitcoin will be labeled "real" when it is the best for them and it will be labeled "fake" when it is the best for them.
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“Great minds discuss ideas; average minds discuss events; small minds discuss people.”
Ideas like bitcoin!
In a thread about people. Ultimately we are all here to discuss ideas (or at least discuss people that discuss ideas) or  (sorry it sounded better in my head ) |
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Snowden had a 200,000$ salary, I'm sure that with Russia buying his confidential information he will be doing great.
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I thought I would also announce this in the appropriate sections as well as in our official thread in the "Gambling" section, you can check it out in my signature.
Invest early enough and you will get a great return on investment without taking any of the risks of lending to new members, managing collateral or buying into some shady securities.
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