Speculation in general and Bitcoinica in particular reduce volatility. Bitcoinica going away will not make things more stable, but will have the opposite effect. Thankfully Kronos.io arrives just in time.

Zhou - very glad to hear the funds are being compensated in full by Bitcoinica. People seem to only be harking on the unknowns and complaining about them, when the most important factor has been addressed.

Just as viruses were the end of the internet!

Quick update:  Since our house run of luck has been terrible (though we still believe, within the bounds of statistical possibility without cheating), we are increasing the house edge just slightly, up to 1% from .818%. We may bring the edge back down in the near future. We need to do this as the house pool is not large enough to enable people to be placing the size of bets they'd like so this should help with that aspect.

Also yes, the max bet changes as each bet is calculated. While it sucks to win and have it not count due to a changing of the max before you bet was processed, it's also just as likely that you will lose, and then have it not count either. So, the + and - should equal out. As the service runs for longer, and the house pool is more healthy, the volatility of the max bet should fall over time.

Good lord. How about we wait and see what happens before burning the witch.

+1

Calling Bitcoinica a scam after they get robbed is like calling a woman a whore after getting raped. Have some class, and contribute something positive to the problem instead of busting out the S word just because something went wrong.

How quickly people forget that last time this happened, Bitcoinica personally reimbursed all the funds that had been stolen. That was a milestone event for Bitcoin, I think Zhou and his team deserve at least a little professional respect and mature response from the community.

Zhou - I'm very sorry to hear of this incident and I hope you guys are able to power through this, learn, improve, and grow.

Oh I do hope that day becomes a holiday tradition!

Hey all - yes today (and yesterday) were very messy with the payments. We've change the coding now and we think it will be much better. I really appreciate all the patience and feedback. We're working on it until it runs smooth as butter.

To address some former posts - we have not/will not change SatoshiDice payouts to require a confirmation. The goal is always for the payout to be instant.

And if there are any material changes to how it works that would affect your bets, we will absolutely post it here.

Hang in there everyone!

PS - as the site owners, we are at a net loss thus far as our luck has been terrible last few days. So, I hope you're all enjoying your net winnings! SatoshiDice has been a charity to you all so while I'm crying I hope you're happy! 

Yeah "pandora's box" tends to mean some combination of these three things:

1) Something with huge ramifications (good or bad)
2) Something dangerous
3) Something that can't be undone

I think Bitcoin fits all three definitions

Pretty awesome

Perhaps Piuk of Blockchain.info would build his android app with a special branded skin/UI for that company...

I also think it's a given in this discussion that the app would not be a full blockchain downloading app, but rather a thin client.

Also - perhaps each tablet should come with maybe 1btc or .1btc loaded in its balance already. The company would need to hedge prices by buying the bitcoins upfront.

Agreed!

If we break Bitcoin by eventually convincing half the world to use it as their primary currency and payment system, then we fucking won.

Languages now available:

English
Chinese
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German
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So building a revolutionary new monetary system that may help free the world from coercion, deceit, and fraud is "abuse of precious resources" but the porn you've downloaded and stored over the years is legitimate usage? 

Wow how genuinely geeky of them - accepting paper money and refusing crypographic sci-fi future computer money.

If the price of a Bitcoin is higher in China than in the US, and this persists, then yes, Bitcoins will keep moving to China.

So what?

Of course, in real life, if the coins are all being bought up by Chinese, then demand for coins elsewhere will rise, the price will follow, and an equilibrium will be achieve.

"Distribution of coins" is a full non-issue. There is nothing a market is better at than distributing friction-less commodities where they ought to go.

The world is full of resources which do not grow proportionately with human demand.

Fortunately, hard drive space, bandwidth, and processing power has not proven to be one of them.

All transactions are being paid eventually, even the stuck ones. The developer has been working on a fix to address this sticking issue - even though only a small minority of transactions get stuck, when there are 4000 transactions total in a day it causes problems   This forum is the best way to reach us, and if a transaction still hasn't come back to you after 24 hrs, please PM me or fireduck.

I think an objective observer can review all the posts, both from myself and Etlase2. Then, tally the number of times each person calls the other a name. Then, from that data, figure out who has the better arguments.

Hopefully, Etlase2, we can both agree that one of us is gravely mistaken about that which he purports to know.

Very cool!  Be sure to add your site here: https://en.bitcoin.it/wiki/Trade

I think there have been two or three addressing the recent spike. Seems reasonable to me. You're welcome to not make another one if they are bothering you.