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What is the max profit per bet for Prime Dice?
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Anytime now - send your bitcoins!
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I agree with you Bug. However, just trying to make it more palatable to everyone. Hey maybe if we do the rollback, Doog will give back the 120 himself out of his own coins and take that smaller loss. 120BTC loss better than the current 1050BTC which he is prepared to take. We just need to come to some sort of fair resolition, not just for Doog, but for the investors who made no errors.
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I think he should roll it back. Provided he actually can. And that he can demonstrate that those bets were stolen and not actual bets.
1300 BTC were not stolen. Bets were stolen and those bets put 1300 BTC into the bankroll. Without Doog's mistake the investors would be down another 1300 BTC. I think that is fair because that is what should have happened.
well actually only needs to give 1050 BTC back since he got 130 BTC as a 10% investor and celeste returned 120 BTC |
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My concern is currently J-D is not doing well for investors and now the operator. It is only doing well for the players. I would hate to see Dooglas shut down the site or not put the effort into it to make it suceed. I also want to see the most fair solution which I believe would be to clawback the funds - noone has divested yet (of any significance). If some investors leave since they lost BTC that do not belong to them, then they will be replaced with others eventually.
Having individual donations, individual pledges, etc is messy and not efficient. Besides, you won't even have to give everything back since celeste did give Dooglas back 120 BTC plus he got about 130 BTC from his 10% ownership - so that 250BTC there, suntract from 1300 and that 1050 BTC. Still a lot but only if you view those ill-gotten gains as your own.
Once investors start withdrawing their investments, a clawback will no longer be feasible so he needs to decide asap what to do.
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Hi Trade,
What sort of things do you invest the bitcoins in to have such a high guaranteed return?
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if he even hints at rolling it back, then all the investors will, and any investors that stay would have been either not paying attention, or the same people that would have volunteered to cover the losses...right?
Noone has divested yet - at least nothing significant. He can still do it - you cannot divest without Dooglas manually processing it. Almost no bitcoins are on the hot wallet, all in cold storage. Not too late for a roll back and noone will have significantly divested before then. If he is going to do so though, he would need to do so asap. My only point is it needs to be fair and to everyone. Not fair for good samaritans to get their investments diluted by those who decide to keep the ill-gotten gains. I just do not think Dooglas should have even given a choice. He should have rolled it back at the time, explained it and noone would have divested - at least nothing significant. |
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I agree Coinbomb, the solution is not for good samaritans to return funds and disadvantage themselves to those who keep them. Just roll it back, they coins were never going to be able to be withdrawn anyway. Anyway, it up to Doog at the end of the day. Lots of respect for him, very few others would be as honorable. One could say Dooglas is provably fair.  |
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My only problem with this is that those who give the coins back to Dooglas are actually punished by having their total percentage of the pool diluted. Those who keep the coins benefit twice - first directly by keeping the coins and then secondly by having an inflated ownership to what they actually invested since their percentage goes up and the "honest" investors goes down.
Investors should not be punished here either. The right solution would be for Dooglas to debit the ill gotten gains from those investors who received them and credit it back to himself - not make it optional where the honest people are now double punished.
Can we just do that? It makes the most sense - I am down as it is and do not want to further compound it. Yet, I do not feel Dooglas needs to pay so harshly for his error since no harm was truly done to investors. Return the donations, take back the ill-gotten profits and let's just move on. Oh, and can we decrease the max profit please;)
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Insanity Dice X-Treme is the original - accept no substitutions!
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The fact Satoshi Dice is tied with Insanity Dice (aka "gimme your bitcoins, doy!") really shows how the mighty have fallen. I would sell SD stock yesterday. They better make some changes such as lowering their edge to 1% to compete
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I can now buy a hooker for a bitcoin - it a real currency!
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I'm willing to donate my future JD earnings - maybe you could add an option to change the 1% fee on profits to something bigger.
The fee is 5% |
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Surprised jackpot dice and bitino have no votes. Both have nice websites and are provably fair.
correction, jackpot dice does not appear to be provably fair. |
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JD only takes commission on profits from investments. If you divest at a loss, no commission is paid.
right, im asking if they should change this policy and take a commission no matter what... How do you take commission on a loss? Do you even know what you are saying? I could imagine commission-models where a small percentage of the full amount is charged when divesting. Or a really small percentage of the invested amount as weekly fee. Or even a small percentage of all bets won by the house (say 1% for the site, 99% to the investors). Plenty of possible schemes to charge a commission regardless of the house results. Problem with that is we need investors now more than ever and that would just scare new ones away. It may even scare the old ones - I am not sure I would stay around if on top of losing my investment by the house losing, I lose further to commission. This is not a hedge fund afterall. |
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If they do that, there should be a minimum amount to get in the investor chat room like 5 BTC invested.
I hate to be elitist but I think you're right. I'm certainly getting chatroom fatigue from the drive-by trolls. I am just tired of people who may have little to no investment screaming how we should have a bigger payout, etc etc when they have no real skin in the game. |
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Surprised jackpot dice and bitino have no votes. Both have nice websites and are provably fair.
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If they do that, there should be a minimum amount to get in the investor chat room like 5 BTC invested.
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True, money wish he could probably not withdraw anyway since Doog would likely have caught it. It does make you wonder if he has a real edge or is just really lucky.
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