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1  Economy / Gambling / Re: MintDice – Bitcoin Casino With Online Slots, Bitcoin Crash & Bitcoin Investment on: November 27, 2020, 06:15:22 PM
So is there a rough ETA for the new release?

Also do you have wager-statistics available somewhere?
2  Economy / Gambling / Re: bustadice – Next Generation Dice on: November 16, 2020, 07:03:58 PM
commission rate = bankroll / 10,000 BTC

Damn, thats pretty smart.
3  Economy / Gambling / Re: e͏t͏h͏e͏r͏c͏r͏a͏s͏h.ισ | 0.75% average house edge | ETH & BTC Accepted 🏅 on: October 27, 2020, 10:03:54 PM

From the official announcement:

Quote
We unfortunately have to share some disappointing news with you all, Earlier today EtherCrashes cold wallet was compromised and 2 large withdrawals were processed. 6,330 Ether was initially transferred out followed by a subsequent 48 Ether.

Both of these transfers where transferred to 0x11CF6c527C22F99c51Fab46459924AAFD96e21F9 where 5 x 100 Ether was sent to tornado.cash and 5800 Ether was transferred into DAI using uniswap (2,304,066 DAI) and have been transferred 0xB1d82216124e79661FD4EfE0E2FCba97C85C6342

We have changed our sweeping address to 0x0DB109F64f1A73F209b6126F2449C2CB5082E8C3

Perch and I are both devastated with what has happened and would like to ask the community for help in trying to get makerdao recover these funds for us.

Our initial plan on repaying the investors of ethercrash is to not take any commission and have these funds pay back the investors directly. However this may take some time.

We are more than open to any ideas on how we can make things right.

Where did you get that?
4  Economy / Gambling / Re: BITDICE.me - Crypto Casino 🎰 Now Accepting EOS | Roll Hunt | Bonuses on: September 24, 2020, 11:32:38 AM
There we go then. Proof of assets is available. Company ownership available. Reporting on hold till launch of new version. Updates found on Discord.

Could someone PM me the link to the discord chat? I find all of this highly troubling.
5  Economy / Gambling / Re: bustadice – Next Generation Dice on: July 21, 2020, 08:15:36 AM
Is anyone investor in the house pool?
I'm wondering how your experiences and gains are so far?

I'm invested for nearly 2 years now and I would not recommend investing right now.

1. "Offsite investing" is not possible for new investors, which makes it much harder to get significant stake in bankroll.
2. Commission has been increased to 50%, which dramatically decreases expected returns.

Overall you can roughly expect 8-10% return p.a., which is still quite good, but there are better alternatives out there, especially given the risks.
Bankroll has decreased by 20% since the commission change, but it still remains quite high. And as I understand devans, he intends to keep it this high until bankroll has further decreased to more sane levels.

6  Economy / Gambling / Re: 🔶 YOLOdice.com 🔶 play&invest BTC ETH LTC DOGE on: July 16, 2020, 07:37:34 AM
Any plans to open eth bankroll for investing?
7  Economy / Scam Accusations / BitDice.me Investors unite on: June 13, 2020, 09:26:14 AM
I've already written in the official BitDice Topic, but since it gets filled with nonesense I thought I started a new topic dedicated to my fellow investors.

The worrisome points start to pile up and I was wondering what other investors are thinking, or maybe get some comments from BitDice management itself.

Problems with BitDice as a company

1. The last quarterly report published on medium was from 02/26 for Q4 2019. I was expecting another report in may for Q1 2020, but there are no notes about a delay or why it wasn't posted for over a month.
2. No or slow development. Just to pick an example, according to the ICO prospectus roadmap we should have Sports Betting in Q2 2018. It's 2 years later now and there's not even a preview for Sports Betting. As far as I know at least 80% of the features promised for 2018 aren't implemented yet.
3. Total wagered tapered off since ICO. It appears like all marketing affords have stopped since the ICO. BitDice had around BTC10k wagered from 10/1/17 until today. For reference: From 1/1/17 to 10/1/17 it had BTC44k wagered... Thats 4 times the wager in just 9 months.

And this is just to mention a few points off the top of my head. Maybe you can add more to the discussion?

Problems with the tokens or how token holders get screwed

1. The token entitles only in profit participation. The invested assets no longer belong to the token owners. (which is a stark shift compared to earlier investements where you could redeem your money).
2. In the whitepaper they state that the money invested was to be used for:
"25% of the funds will be kept in vault as reserve. At BitDice’s discretion and dependent on market conditions, some portion of reserves can be used to buy out tokens on the secondary market to reduce public float"
"10% of the funds will be used for promotion and marketing purposes."
"25% of the funds will be used by BitDice Casino to fund capital expenditures related to platform development and business expansion. It will primarily consist of:

    Compensating the development team for enhancing BitDice functionality, applying new technology and integrating gambling providers into the platform.
    Developing its own unique and provably fair games on top of the old ones.
    Acquiring necessary licenses to be able to operate with fiat currencies as a traditional gambling entity across as many regions as possible.
    Paying legal fees to bring the whole business structure into full compliance with regulatory framework.

"40% of the funds will be stored as the casino’s house bankroll to pay out winning bets and bonuses to the players on the whole array of games presented"

3. Now, if you take a look at their quarterly reports you can read things like:
"Higher expenditures have been related to business expansion activities such as finalizing integration of fiat payment systems, expanding to new markets of Southeast Asia, and strengthening presence in social media."
"The majority of the cost was attributed to team salaries and legal fees associated with ongoing process of obtaining a license:"

The result:
These expenditures reduce the distributable profit quite significantly. Which means that token holders (at least those participating in the ICO) pay twice. Once for the token itself and then via the reduced profit.
And just to reiterate: In the whitepaper/prospectus they clearly calculated the dividend with 70% of the profits. There's no mention of running costs.

I can live with the abysmal performance of bitdice, but I don't like getting ripped off.
Either they pay the above mentioned expense from the ICO proceeding and fully distribute the profits. Or they pay all expenditures from the net profits, but in turn treat the tokens like shares in the company.

The last point is vitally important in the case of closing the company. Let's assume in 2 years the team decides that the company wasn't profitable anymore and that they want to close it. The tokens would be worthless at that point, although the assets from the ICO are mainly still there, probably beeing distributed among the team.
One might even say that this creates an incentive to running the company into the ground...


If you want to read up on what I've been referring to:
Here is the original prospectus of the ICO: https://web.archive.org/web/20171105093415/https://ico.bitdice.me/prospectus_en.pdf
Here are some stats about BitDice: https://dicesites.com/bitdiceme
8  Economy / Gambling / Re: BITDICE.me - Crypto Casino 🎰 Now Accepting EOS | Roll Hunt | Bonuses on: January 27, 2020, 08:27:45 PM
To add to the discussion:

1. The token entitles only in profit participation. The invested assets no longer belong to the token owners. (which is a stark shift compared to earlier investements where you could redeem your money).
2. In the whitepaper they state that the money invested was to be used for:
"25% of the funds will be kept in vault as reserve. At BitDice’s discretion and dependent on market conditions, some portion of reserves can be used to buy out tokens on the secondary market to reduce public float"
"10% of the funds will be used for promotion and marketing purposes."
"25% of the funds will be used by BitDice Casino to fund capital expenditures related to platform development and business expansion. It will primarily consist of:
  • Compensating the development team for enhancing BitDice functionality, applying new technology and integrating gambling providers into the platform.
  • Developing its own unique and provably fair games on top of the old ones.
  • Acquiring necessary licenses to be able to operate with fiat currencies as a traditional gambling entity across as many regions as possible.
  • Paying legal fees to bring the whole business structure into full compliance with regulatory framework.
"40% of the funds will be stored as the casino’s house bankroll to pay out winning bets and bonuses to the players on the whole array of games presented"

3. Now, if you take a look at their quarterly reports you can read things like:
"Higher expenditures have been related to business expansion activities such as finalizing integration of fiat payment systems, expanding to new markets of Southeast Asia, and strengthening presence in social media."
"The majority of the cost was attributed to team salaries and legal fees associated with ongoing process of obtaining a license:"

The result:
These expenditures reduce the distributable profit quite significantly. Which means that token holders (at least those participating in the ICO) pay twice. Once for the token itself and then via the reduced profit.
And just to reiterate: In the whitepaper/prospectus they clearly calculated the dividend with 70% of the profits. There's no mention of running costs.

I can live with the abysmal performance of bitdice, but I don't like getting ripped off.
Either they pay the above mentioned expense from the ICO proceeding and fully distribute the profits. Or they pay all expenditures from the net profits, but in turn treat the tokens like shares in the company.

The last point is vitally important in the case of closing the company. Let's assume in 2 years the team decides that the company wasn't profitable anymore and that they want to close it. The tokens would be worthless at that point, although the assets from the ICO are mainly still there, probably beeing distributed among the team.
One might even say that this creates an incentive to running the company into the ground...
9  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] Bancor | Protocol for Smart-tokens, solving the liquidity problem on: December 28, 2019, 10:47:02 PM
Are there any non-shills in this thread? This is quite ridiculous.
10  Economy / Gambling / Re: BITDICE.me - Crypto Casino 🎰 Now Accepting EOS | Roll Hunt | Bonuses on: December 27, 2019, 10:27:41 AM
You can't, you can get some of information on medium

Okay so the last proof of solvency was before the ICO? Or does anyone have a more recent info?

I‘ve read the reports on medium and I tried contacting them without any luck.
11  Economy / Gambling / Re: BITDICE.me - Crypto Casino 🎰 Now Accepting EOS | Roll Hunt | Bonuses on: December 26, 2019, 12:47:55 PM
Just wondering if anyone knows about the current cold storage adresses or has an idea how to verify solvency without them.

It would also help if anyone made a larger deposit/withdrawal recently, which might lead to the cold storage.

In the interest of „security“ you may also PM me.

Best regards
Pascal
12  Economy / Securities / Re: [Weexchange issue] The fall of Ukyo III - Updates and references on: June 26, 2019, 07:08:56 PM
Are there any updates on this?

Edit: Some more info, e.g. regarding the court case here: https://bitcointalk.org/index.php?topic=337523.680

The guy has proven tech skills. Order him to pay it back. Let him work and garnish his pay. Put him on probation until every victim is made whole.

Unless you really think he's rotten to the core don't let those 4 kids grow up without a father. Hating the world, hating the government, and hating their dad. You create 4 more victims, an additional burden on taxpayers, and how will he ever repay anyone from prison?

If he fails to keep a job, fails to make payment progress, goes out defrauding people again, or fails to care for his family - then you can wack him with a parole violation and then prison becomes an option.

My $0.02.
I would assume that in his lifetime he will not be able to pay back what he owes.
13  Economy / Exchanges / Re: Bitstamp exchange of currencies: stealing money of the deposit by employees on: January 18, 2018, 08:13:27 AM
Just got my EUR withdrawal from bitstamp after finally completing the stupid KYC.
14  Economy / Exchanges / Re: Bitstamp exchange of currencies: stealing money of the deposit by employees on: January 16, 2018, 09:57:39 PM

There are no crypto exchanges registered with FSCS, that's the problem. Only top forex brokers located in the UK, but you need to check that to be sure and have it black on white in paper.

I don't think Bistamp is liquid to handle huge amounts of withdrawals and probably not even solvent to do so. That's my opinion based on what has and still is going on and basic math + common sense.
Let's say, in theorem, that Bitstamp or any other crypto exchange has users that have 50% of Bitcoins mined and 50% - 1 are bought for $1. Now the last guy buys the bitcoin for $20k. The market cap of bitcoin rises to supply * last traded price. Let's say, supply of 17 million bitcoins and let's assume Bitstamp had a monopoly where all users will go to buy/sell bitcoin and have their entire account equity (deposits) used.
To use some simple arithmetic:
Bitstamp client deposits: 17m * 0.5 * $1 + 1 * $20k = $8.5 million + $20k = $8,520,000 ($8.52m)
Market cap from: 17m * $1 = $17m, to: 17m * $20k = $340,000,000,000 ($340b)

As you can see, the only way this is sustainable is that more people get in and buy around the same last price to maintain that market cap. Problem is, if price rises too fast vs their earnings from fees + third party capital investments + own equity AND people withdraw huge amounts at the same time(period), crypto exchanges cannot pay you out (i.e. a bank run). Unfortunately, most things rely on a ponzi scheme/pyramid structure in life. The only one who can 100% guarantee it to pay out is the central bank. If they don't have enough fiat, they just print or put more digits in.
Things will really go south when theft occurred (i.e. a hack). Not implying this has happened, just having an open mind and mature discussion here.

As the top forex brokers offering you an insurance in case things go wrong, I don't think they will for cryptos if this continues without new big money coming in, while people cashing out. Therefore, there are only 3 crypto money licensed transmitter exchanges, where there could have been many more crypto fiat exchanges, ask yourself why this didn't happen. I know coinbase and kraken have huge reserves and bistamp had a lot of liquidity as well in the past, that's why everything went so smooth for years. But, when suddenly withdrawals and deposits don't go smooth and it's still not solved within a week, I'm worried and that's my argument. The same thing happens in the business world, hence the stalling of time.

Bullshit meter over 9000 here.
15  Economy / Gambling / Re: SafeDICE.com ★ Bitcoin Dice ★ Monero ★ 0.5% Edge ★ Fast Cashout ★ Since 2014 on: January 06, 2018, 03:27:48 PM
/checkbalancebtg:
Your balance is: <balance>

/withdrawbtg <address> <balance>:
Something went wrong, please try again or contact us via email in the FAQ section.

This is the same issue I was having trying to withdraw BTC, BCH and XMR since beginning of december. Didn't get any answer to my e-mail.
I could only work around this by withdrawing chunks every 24h, maybe I'm still locked.
16  Economy / Exchanges / Re: Bitstamp exchange of currencies: stealing money of the deposit by employees on: January 04, 2018, 03:11:00 PM
Bitstamp is known for coming up with a detailed questionaire once you try to withdraw money.

Has anyone in the past questioned on which legal basis this happens? Has anyone studied the ToS if they're allowed to do that?

Let this be a warning for anyone, who thinks about exchanging their fiat or coins on Bitstamp. You WILL be asked to strip down naked and answer ANYTHING they come up with. And don't you dare not beeing able to prove everything. Your withdrawal will be denied, they forcibly exchange your fiat back, making a nice profit and waving goodbye.
17  Economy / Gambling / Re: SafeDICE.com ★ Bitcoin Dice ★ Monero ★ 0.5% Edge ★ Fast Cashout ★ Since 2014 on: June 25, 2017, 09:26:51 AM
I can confirm that withdrawals are working again.
18  Alternate cryptocurrencies / Altcoin Discussion / Re: Reason for IOTA leveling out on: June 19, 2017, 01:04:21 PM
As I read here (https://bitcointalk.org/index.php?topic=1596208.msg16046062#msg16046062) ICO price of 1 mIOTA was 40 satoshi?

With current market rate thats 400x right?

Can't imagine it going much higher once a bigger investor decides to dump his coins one by one.
19  Economy / Gambling / Re: BITDICE.ME - REGISTERED CASINO. on: September 30, 2016, 02:16:54 PM
Had a glitch when I created an account earlier, but now the login is working and I was able to import my old account without any problem.

Cheers.
20  Economy / Gambling / Re: BITDICE.ME - REGISTERED CASINO. on: September 30, 2016, 10:27:09 AM
So whats going on here?

All pages in the menu are missing?

What happened to the existing accounts? I used to login with a username and now an email is required? How am I supposed to login with my old account?

No updates here?

Kind of worried right now, since I have a good chunk of bitcoins invested.
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