 Show Posts
|
|
Pages: [1] 2 »
|
|
I just wrote that about 9 hours ago they published the announcement on twitter, publishing the source, that's all, no mention of speed or anything else.
|
|
|
|
About nine hours ago they publicly notified the news about WOF on their official Twitter channel: "9h We're aware of an issue with WOF free spins not being credited. Our team is actively investigating, and we'll have this fixed soon. Rest assured, all pending free spins will be credited along with an extra bonus as a thank you for your patience! "Here you can find the source: https://x.com/freebitco |
|
|
|
They are accurate because they are calculated manually by my membership, counting all the spin wheels made with the relative amounts.
Tickets do not count towards the return on investment, only satoshi, points and any special prizes, also because there is no guarantee of winning in the lotteries, so they are not part of the ROI.
Individual results will always vary and may end up being worse or better than what is expected according to probability. Your results are only a statistical sample. To determine the specific odds of getting each prize we can look at the prize table. The only exception is the Rolex prize which has much lower odds than 1 in 1,000,000 because of how they round the result of the provably fair formula. The odds were not always the same, so depending on what data you are using in your sample, it might skew your perception of what the odds are today. The table only confirms what I said, we are talking about mathematical probabilities, not abstract things, most of the spins were always 50 sats/points/tickets, with a FUN price of 50, today the spins are 17/18 sats/points/tickets with a FUN price of 4, so the site should pay up to 4 times more than what it was paying, and it is no longer sustainable, especially that for now the investments on FUN are blocked. Let's see if they can come up with something good to unblock the situation, or clearly the FUN will be short-lived. |
|
|
|
The average cannot be done like this, the spin has 4 types of prizes:
1) common (15/50 Sat/Points/Tickets)
2) uncommon (150-500/1500-5000 Sat/Points/Tickets)
3) rare (1/5/50 Golden tickets)
4) special (500$ giftcard, Iphone, Rolex)
Point 4 has an extremely rare probability, it is like winning a jackpot of a national game/lottery.
Point 3 has a probability of about 1%.
Point 2 has a probability of about 3-4%.
Point 1 is the one that comes out with a probability of about 95+%, of which as said 1/3 are tickets.
So we need to calculate a weighted average of point 1, with some exceptions of point 2 and extraordinary 3 and 4.
Those probabilities are not accurate. To get an uncommon prize, there is a 1.1% probability if you include lottery tickets, without tickets it is 0.6%. Another thing is that even if the uncommon prizes have a low probability they still made up a proportionately higher amount of your rewards in the beginning. The 5000 prize is 100x larger than the base prize but the odds were initially much better than 1/100th of the base reward’s odds. They are accurate because they are calculated manually by my membership, counting all the spin wheels made with the relative amounts. Tickets do not count towards the return on investment, only satoshi, points and any special prizes, also because there is no guarantee of winning in the lotteries, so they are not part of the ROI. That is from 1/83rd to 1/125th of the investment.
If the annual returns had been 1/125th at the beginning, nobody would have invested in something where it might take over a century to recoup that investment. instead it is like this, but we are only talking about the spins, obviously we have the APY and possibly the interests for the satoshis deposited, so it is higher, but the spins returned an average of that ROI, today it reaches over 4 times, this would explain why they have deactivated them and the other features are active. Regardless of how you want to calculate returns, becoming a premium member is something that currently requires an extremely long time to reach any meaningful ROI. These slow and steady returns should not be unsustainable but perhaps there are other costs which we haven’t been factoring. FUN isn’t a token they created themselves, it is something which they paid to acquire. Promoting and developing the token also have a cost and they might have taken significant losses from all this.
We agree on this, all non-SCAM investments have slow ROIs, also because they have to generate revenues with which the same ROIs are then paid. Here we can find the FUN RoadMap for 2024 and beyond, perhaps these innovations can lead to an improvement and greater use of crypto: https://funtoken.io/road-map |
|
|
|
At that time bitcoin was worth around 10,000/20,000$ and a FUN was equal to 50 satoshi (1 FUN = 50 sat).
Each Spin wheel has 4 prize categories, considering that the weighted average is of the common ones: satoshi, points, tickets, about 1/3 are tickets that in fact do not offer, except special cases of winning, earnings to the user. so 66% remains between satoshi and points.
Always at that time each common prize was equivalent to 50 satoshi/points/ticket, so let's say we got the prize of satoshi we had: 1 FUN = 50 sat, 1 spin = 50 sat, so a ratio of 1 (50:50).
Today we find ourselves with a bitcoin value 3/5 times higher and a FUN value 12 times lower, if we look at the spin wheels at the current value a common prize is 17/18 sat, while we have a FUN value of 4, so we get: 1 spin = 18 sat, 1 FUN = 4, whose ratio is 4.5 (18/4).
This means that the site must pay more than quadruple what it initially paid with the spins and obviously it may no longer be sustainable.
2/3 of the wheel prizes might be satoshis and points, but they changed the odds so that you win the 500 and 5000 prizes much less often. This effectively led to a more than 90% decrease in total cumulative rewards over time. Initially, for every 1000 spins we would be expected to receive 50 sats*300 + 500 sats*20 + 5000 sats*13 + 50 rp*300 + 500 rp*20 + 5000 rp*13. This would be a combined total of 180,000 sats & rp. Today, for every 1000 spins we are expected to receive 18 sats*330 + 180 sats*2 + 1800 sats*1 + 18 rp*330 + 180 rp*2 + 1800 rp*1. This is a combined total of 16,200 sats&rp. The average cannot be done like this, the spin has 4 types of prizes: 1) common (15/50 Sat/Points/Tickets) 2) uncommon (150-500/1500-5000 Sat/Points/Tickets) 3) rare (1/5/50 Golden tickets) 4) special (500$ giftcard, Iphone, Rolex) Point 4 has an extremely rare probability, it is like winning a jackpot of a national game/lottery. Point 3 has a probability of about 1%. Point 2 has a probability of about 3-4%. Point 1 is the one that comes out with a probability of about 95+%, of which as said 1/3 are tickets. So we need to calculate a weighted average of point 1, with some exceptions of point 2 and extraordinary 3 and 4. So if at the beginning 1 FUN was 50 sat, buying the maximum membership of 500,000 FUN we had a cost of 25,000,000 satoshi, with an annual return from the spins of 200,000/300,000. That is from 1/83rd to 1/125th of the investment.Today a 500,000 FUN membership is bought with 2,000,000 satoshi, if they continued to give the same number of spins, whose municipalities have a value of 17/18, we would find ourselves with an annual return of 63,000/70,000. That is from 1/31st to 1/28th of the investment, that is over 4 times what it paid before, for the site it would not be sustainable. I hope this is clearer. I don't get it, why is there so much complain about FUN token? Someone said people are not buying this token, I doubt that because even in this bear market this token still have one million dollars worth of volume with good marketcap, how is this not doing fine?  This token has react very well to all past bull market, just like all other altcoins, when and if Bitcoin dominance is done surging altcoins will start moving again, as for those saying that Binance can delist Fun token well, how many tokens have Binance delisted that died because of it? There are few reasons why Binance delsist tokens and the most popular one is low volume. Freebitco team should work more on utilities, I accept, but this doesn't mean the end for fun token. Except that FUN has become another shitcoin in a huge ocean of shitcoins. There is no innovation or additional utility planned with it, and given the poor performance of FBC lately I think we can safely assume FUN will wittle away into irrelevance. The fact we aren't received our free spins is very telling, this is no longer a technical issue, clearly they cannot sustain the cost of the free spins anymore. Anybody investing in FUN at this point would be better off going to a casino and sticking their money on a roulette table. The problem is that this crypto at the moment has little use since it is only for games and there are other more famous and used cryptos such as TRON (TRX), so if they don't invent something, the price will stagnate like this or there will even be a removal from the exchanges. One thing that could make them rise in price would be the creation of faucets (and not only) that distribute this crypto, but at the moment the demand seems low or non-existent. |
|
|
|
The Premium gives several benefits including:
- Up to 25% APY of the locked tokens (credited correctly).
- Extra % of interests for the satoshis deposited in the account (credited correctly).
- % cashback on the wager volume made (credited correctly).
- N of daily spin wheels (currently not credited correctly).
As indicated, the only point of the membership are the spin wheels for the problem of the huge swing in the prices of the cryptocurrencies involved, a problem that they are trying to solve, everything else works as indicated in the membership, so we cannot talk about a scam.
The 25% APY on locked tokens isn’t part of the Premium membership, you can get the benefits with a minimum of 500 tokens. Even with such a high annual rate it is not worth it to buy tokens just for this because of their poor price performance they will lose more value than what you earn. The wheel spins were the most attractive aspect of being a premium member because they don’t require you to wager or make a deposit. I don’t really believe that price fluctuations are a reason why they needed to pause this. If the program wasn’t profitable to them they could have nerfed the rewards like they have in the past. They’ve had over a month to figure out a solution. No, what you say is true if the market goes down, but if it stays the same or goes up, it is the major source of income, and since you can't know the future market with absolute certainty, they are called investments precisely because they have a source of risk. Nobody disputes the fact that spin wheels are the most attractive part, both because they give the thrill of the game, and of winning special prizes such as rolex, iphone, etc..., but in fact they represent the 3rd source of income after the APY and the possible % of interest per satoshi deposited, if these are significant figures. It is a certain fact that the reduction of spin wheels is due to the change of the 2 cryptocurrencies and it is easily demonstrable. I take my case which is the same for everyone, since I was one of the first to get the Premium when it came out.. At that time bitcoin was worth around 10,000/20,000$ and a FUN was equal to 50 satoshi (1 FUN = 50 sat). Each Spin wheel has 4 prize categories, considering that the weighted average is of the common ones: satoshi, points, tickets, about 1/3 are tickets that in fact do not offer, except special cases of winning, earnings to the user. so 66% remains between satoshi and points. Always at that time each common prize was equivalent to 50 satoshi/points/ticket, so let's say we got the prize of satoshi we had: 1 FUN = 50 sat, 1 spin = 50 sat, so a ratio of 1 (50:50). Today we find ourselves with a bitcoin value 3/5 times higher and a FUN value 12 times lower, if we look at the spin wheels at the current value a common prize is 17/18 sat, while we have a FUN value of 4, so we get: 1 spin = 18 sat, 1 FUN = 4, whose ratio is 4.5 (18/4). This means that the site must pay more than quadruple what it initially paid with the spins and obviously it may no longer be sustainable. |
|
|
|
some times i tought, that, if freebitco users earn (0.01%day/ 4.08Year) interest when are balance above 0.00030sats, and we can withdraw any time when we want, why don t an option to stake and lock btc on site, like lock FUN, and earn a bit more percents on our BTC balance?...
Because FUN token is their native utility token. They want users to purchase FUN to boost the price in exchange for the benefits in the casino. FUN utility will be useless if they let other currency use to be staked since no one will by and hold FUN token since everybody preferred blue coins to hold long term. Actually, FUN token is the only casino token that I knew that gives real utility to their token since they provide different reward that involves the casino for token holders unlike mediocre casino tokens that only use as rakeback rewards or stake like DeFi that doesn’t gives much benefits for holders. But their onsite advertisements for it is straight out lying to their customers for a straight month or more. They do not give you 16 wheel of fortune (WOF) free spins for purchasing 250,000 FUN tokens. They give you nothing! When are they going to get sued for false advertising and facilitating a full out scam site? The Premium gives several benefits including: - Up to 25% APY of the locked tokens (credited correctly). - Extra % of interests for the satoshis deposited in the account (credited correctly). - % cashback on the wager volume made (credited correctly). - N of daily spin wheels (currently not credited correctly). As indicated, the only point of the membership are the spin wheels for the problem of the huge swing in the prices of the cryptocurrencies involved, a problem that they are trying to solve, everything else works as indicated in the membership, so we cannot talk about a scam. |
|
|
|
Can someone inform if high rollers are still receiving W0Fs from their premium accounts?
Already answered in the thread, users with a maximum membership (500,000 FUN) who do not receive the number of spins indicated by the membership. |
|
|
|
Also the referrals Commision is now restored, in the last few days, i have every zero commision (last week), today, in the recent commision, i see 0,00000770 satoshi, so, is OK. Ok, thanks for the feedback, I had problems with the 200% promotion, the expected commissions do not seem to have been credited correctly according to the calculations made, I will have to check. The RP and the satoshi 'bonus' for the PREMIUM MEMBERSHIP LEVEL DAYS, also work correct.
Cheers.
I do not know this bonus, could you please specify better what you are referring to? Congratulations! you have won the first prize of 0.02460788 BTC in the weekly lottery draw at FreeBitco.in! The amount you won has been added to your balance on the website and can be withdrawn anytime. We hope that you will let others know about your win as that would help us become more popular. You can use your referral link ( https://freebitco.in/?r=996032) when you let people know so that you receive 1 free lottery ticket for each FREE PLAY roll that your referred users play! It's pending as always (usually for a few days or so) but a nice surprise to share:  Congratulations.  it is nice to know that there are those who win the lottery and share the result, I have not yet had the pleasure of winning anything in this game. |
|
|
|
Hi All,
Any idea on how to manually unlock the fun tokens?
Cheers.
You need to go to the MORE -> FAQ menu, scroll down the page until you find the "contact form" form, fill it out indicating the request to unlock the FUN, this will open a support ticket, to which they should respond to your request as soon as possible. How do you know that bro, you have tried it by your own? I have never heard about a customer support agent manually unlocking funds from a locked investment. The rules of the investment plan imply the funds to be unavaible during all the locking time. Some investment plans allow to withdraw your funds at anytime by giving up earnings generally but it's not the case for this type of investment, you agree to hand over its accessibility during the locking period you choose in exchange for interesting profits. Because as already mentioned by other users, if the period has expired but the tokens are not unlocked, or even if it has not expired and you want to cancel everything, or any other problem you encounter, you must always go through technical support in any case, if possible, they will process your request as soon as possible. |
|
|
|
The bonus under multiply BTC game was not increasing when rolling for a few days.
But now it is going up again. So that aspect is still working.
I managed to successfully finish the Multiply Bonus which was credited, but no other bonus was generated for the wager volume even if I continued playing, so for me it still does not work, if I understood correctly which bonus you are referring to. You got it right. It was the multply bonus feature you needed to manually activate by clicking on the button to have it work for any future bets to count towards your rollover required wagered amount so to get it added to your balance. It is working now from what others were saying when it started working under 24 hours ago. Ok, thanks, so I understood correctly, it activated for me later, but it's fine anyway. The wheel of fortune or WOF are still not actively working for those who purchased FUN tokens to have this feature activate on your account once you are a premium member.
So with the advertising of 16 free WOF spins daily for buying and holding FUN tokens is a complete lie!
False advertising. Once you lock them up you will not receive any of these 16 free spins from the WOF every 24 hours they are actively promoting everywhere on their website.
They worked, now they are credited but not those indicated by the membership, this is due to the drastic change in value that the 2 cryptocurrencies have undergone, so they have reduced the number as it is not sustainable for the site, I think they will make updates on this since they have indicated it (at least in technical support), but when it will happen is not known. Hi All,
Any idea on how to manually unlock the fun tokens?
Cheers.
You need to go to the MORE -> FAQ menu, scroll down the page until you find the "contact form" form, fill it out indicating the request to unlock the FUN, this will open a support ticket, to which they should respond to your request as soon as possible. |
|
|
|
- Yes. Having just wagerered 500 satoshi, I got 1 RP and 1 LT. Ok, thanks for the feedback - I can't confirm the Bonus, because I am very far from the minimum elegible (1,000 satoshi) and only who already has it can sea the increasing.
This really don't work again (at least for me). I'm refering to other bonus of faucet where say: % achieved towards the next +0.00000003 BTC bonus!This work again with wager volume. Now I see that the Premium wager volume cashback is also working again, updated the list accordingly. I think there are only 3/4 points left on the list at this point, the most critical of which is the Premium Spin Wheel. |
|
|
|
My FUN savings which expired today did not unlock, so they didn’t actually restore functionality. They will only unlock your tokens if you contact support. This is very annoying because I have 87 batches of tokens that are still locked and expire in the next 8 months. I have to create tickets every few days because they are intentionally preventing this feature from working properly.
Maybe it's to avoid massive withdrawals, but if sending tickets unblocks them, it's better than nothing. If you intend to remove them all, try sending a single ticket indicating them all at once, maybe you can unblock them simultaneously. They have now been unlocked, several hours late and without me sending a ticket. Perhaps they are reading this thread and taking action based on users’ comments. I will hold my unlocked tokens for a while longer and hope the wheel spins get restored. If things don’t go back to normal in the coming weeks then I will have no choice but to sell my tokens at a significant loss. Yes, maybe they are reading the threads here and are taking action, that would be a good sign. The current spin system is not sustainable (or hardly sustainable) for the site, given the current value of the 2 cryptocurrencies, maybe they will restart it in a more sustainable way. Yes, I understand your choice if the problems persist, I hope it will be solved and that you can recover the investment without losses. Daily Jackpot is back. Do not believe in whatever without filtering.  Yes, now I see it too, another good sign. |
|
|
|
The spins problem I still contest is not quite as big as other possible worries like the one above for example but its such an issue for so many people its especially disparaging to the site. I would propose a stop gap solution of crediting people their spins at least once a month if the normal daily credit is not working out for whatever reason.
As an alternative it'd help alleviate peoples concerns, a mitigation rather then the fix that should be done with whatever has got stuck in the system.
This is the point, the spins continue to be sent, but in a reduced way and not those related to the membership (at least in my case and in others found here), simply because as I indicated before, the system today as it was designed, is no longer sustainable. The other big problem is not having communicated anything at a global level, users think the worst and try to escape, now it's gone like this and the situation is this, I hope they solve it, but at this point a change of direction is needed. |
|
|
|
The bonus under multiply BTC game was not increasing when rolling for a few days.
But now it is going up again. So that aspect is still working.
I managed to successfully finish the Multiply Bonus which was credited, but no other bonus was generated for the wager volume even if I continued playing, so for me it still does not work, if I understood correctly which bonus you are referring to. |
|
|
|
After the 200% referral bonus promo started today noticed a few things still working and more not.
The bonus under multiply BTC game was not increasing when rolling for a few days.
But now it is going up again. So that aspect is still working.
The leaderboard is not showing up so what does this mean? The entire daily jackpots are no longer part of the site?
This had disappeared since the weekend.
The jackpot has been deactivated for days and is currently still inactive. The Multiply bonus was also stopped for me, but I had accumulated one before the stop that I am using, so I do not know if it has started working again, I will only be able to know after having finished the current one. My FUN savings which expired today did not unlock, so they didn’t actually restore functionality. They will only unlock your tokens if you contact support. This is very annoying because I have 87 batches of tokens that are still locked and expire in the next 8 months. I have to create tickets every few days because they are intentionally preventing this feature from working properly.
Maybe it's to avoid massive withdrawals, but if sending tickets unblocks them, it's better than nothing. If you intend to remove them all, try sending a single ticket indicating them all at once, maybe you can unblock them simultaneously. |
|
|
|
Your pioneer list of processes is very useful even beyond the crisis. https://bitcointalk.org/index.php?topic=320959.msg64474849#msg64474849Today, you added a bird-ey-view and here is my take. Freebitco has a sort of variable house edge which management is impossible without good stats and my view is that some recent changes deal with information available or not. Thanks, I tried to provide useful information to everyone. My vision is more of an analysis of the available data, doing a little technical analysis of cryptocurrencies over the years and comparing it with the current Premium system, it is clear that the system has now become unsustainable for the site. I think they are looking for a solution and I hope they find it, for the rest we will see. |
|
|
|
After opening a support ticket my locked tokens have been unlocked. I’m not sure if they’ve fixed some of the other issues that started in recent days.
Honesltly, I personally think it's weird and really surprising why they will continue to keep quiet and allow their reputation to continue to deteriorate if they are actually in there and seeing all the support tickets created for different issues, and possibly all the complaints from their users. Anyways, I've managed to withdraw the little money I had on the site off to my personal wallet, thank goodness I sold off all my fun tokens when the price was still a bit better than it is currently, though not without incurring a significant loss, but would have been worst if I was doing that now. Good luck to everyone who still have their money on the site, just make sure it's an amount you can easily afford to forget about, just incase we all wake up one morning to discover that freebitco site have gone offline. Personally, when I noticed the problem with the Spin credits I opened an info ticket to support, they responded to me after less than an hour, indicating that the problem was due to the enormous increase demand of Premium customers, perhaps the progressive and drastic lowering of the FUN price has caused the package to generate a loss for the site, (between satoshi interests, FUN interests, cashback and spin wheel), given that initially the price of the FUN was over 50 satoshi each, now it has dropped to less than 4. What is unclear is the deactivation of the gambling promotions/features, on the last day I remember that there were several problems accessing the site, the Dice often blocked and even the roll did not work well. The idea I got is that there could have been a massive attack/loss on the site of some kind and they have deactivated everything at the moment for protection, they are preparing for a change in the site's features, or who knows what else. Personally, I hope that everything will be resolved well and not with the definitive closure of the site. |
|
|
|
|
