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141  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Just-Dice.com : Invest in 1% House Edge Dice Game on: July 24, 2013, 10:30:18 AM
Just-Dice has a blog!  Shocked

http://just-dice.blogspot.ca/

Deb

Interesting blog! Smiley

Congrats on the house being 'back in black' Smiley

The house yes.. but not all investors.
An interesting effect of investment dilution is that some investors who were in profit last time the site was at +1550 - are now in a loss once it's back up to +1550.

These investors were being rational in sticking it out - (because the site's luck at any point isn't dependent on what happened just before), but they lost out to investors who subscribe to a form of 'gamblers fallacy' and were 'lucky' enough to be less invested during the downside.

Sad that investors who provided the bigger slice of funds for the gamblers' wins - didn't necessarily reap the equivalent rewards for the gambler's losses.
'Luck' of the draw . It *could* have turned out in their favour I guess.
142  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Just-Dice.com : Invest in 1% House Edge Dice Game on: July 18, 2013, 04:16:53 AM
Dooglas, I have a question:

  Before I divested, I asked Deb if I reinvested later would my loss stay on the account so I would not pay commission until I was in profit again and she said that is correct.  However, in the chat, some of the players insist that once you divest, your loss is wiped clean and when you reinvest, you pay the 5% comission since the reinvestment, regardless of whether the account itself is in profit again.

As an example, say I invested 100 BTC and lost 12 BTC.  I divest the remaining 88 BTC.  My account as a 12 BTC lost.
If a month later I re-invest the 88 BTC I previously divested, and then my account goes up 12 BTC to 100 BTC (my original investment) from my share of site profits would I pay any commision on that 12 BTC or not until I re-coup my original investment.

Please clarify

Your initial understanding is correct.  When you divested, your "base" was left at 12 BTC.  That is the amount up to which you can go without becoming due for commission.  If you re-invested the 88 BTC, your base will rise by 88 BTC to 100 BTC, and so you can make 12 BTC of commission-free net profit.  You'll only be charged commission once your investment rises above 100 BTC (assuming no further invest/divest operations from you).

Check your 'investment' history in the 'history' tab.  Your base will be positive even after withdrawing.  The amount your base is higher than your current investment tells you how much more profit you can make before becoming due to pay commission.

Nice. So potentially someone could sell their empty account for something shy of 5% of the 'base' figure to recoup a fraction of their loss... right?
143  Economy / Trading Discussion / Re: Bitcoin Iran on: July 17, 2013, 01:45:35 AM
Sweet!

Not so awesome that it's being run on a .com domain.

Surely this will be shut down by the US.


.bit is your friend

Sure - I have my name resolvers set up so I can view .bit domains - however - coinava.bit doesn't go anywhere.
144  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Just-Dice.com : Play or Invest : 1% House Edge : Banter++ on: July 16, 2013, 06:08:16 AM

The chat is buzzing with suggestions of how I can claw the losses back from investors.  I figure if they want to give it back they will, and if not I don't want to antagonize them.  Just know that the 1300 lost should never have been played with, and would not have been cashed out whether it won or not.  So the investors weren't risking anything by having it gambled.


Of course investors were placed at risk by the mistake.
The gambler got to play and risk *someone elses* money - and if he'd won big, then deposited 1300 coins to act as if he'd never meant to overdraw - what would have happened?

Either you'd have had to pay him out with investors money - or refuse to pay him and risk the good will, reputation and future earning capacity of the site for not paying out a big winner.
Either way - the investors had risk.

145  Economy / Trading Discussion / Re: Bitcoin Iran on: July 16, 2013, 03:49:40 AM
Not so awesome that it's being run on a .com domain.

Surely this will be shut down by the US.
146  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Just-Dice.com : Invest in 1% House Edge Dice Game on: July 16, 2013, 02:34:08 AM
It's fraudulent betting.  The fraudulent bets should be busted, and rolled back.


Careful.  Philosophically it's perhaps just betting - with stolen money.
Would you want the investors to be liable for someone who deposited stolen bitcoins and then gambled them away just because it happened to be traceable exactly where they were stolen from?

Investors have made decisions on whether /how much to stay invested based on the results seen on the site.  

Any 'rollback', especially a late one, sets bad precedents from the point of views of both gamblers and investors.

If dooglus wants to maintain faith in the site - and recoup the loss for his mistake - it would be better in my opinion to do it via a temporarily increased commission to repay him once the site gets back in profit.

147  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Just-Dice.com : Invest in 1% House Edge Dice Game on: July 15, 2013, 05:18:34 AM
I believe SHA512 is not broken. That guy was just lucky. The pattern may be something else, like looking at the previous bets, and not just dependent on a win or loss.

I'm sure you know what to do or what to check if the server seeds have been compromised. I don't think they have. How does your site store it?

My guess, he's just a good gambler.

The RNG is SHA512 on the seeds and nonce. There is no known mathematical analysis except to guess when you are going to win and when you are going to lose. But the use of the same seeds with an incrementing nonce does imply that the dice, in this case, do have some sort of memory.

Again, that is gambler's fallacy, but as a player, I believe it to be true in this case. However, I am not going to debate or argue it with anyone here. I've said what I've said in the other thread about my martingale sequences on 87%. And I've come up positive after almost a million bets.

This new whale must have a variation on this system.

But these are just anecdotal ... he did what he did, I did what I did, doesn't prove anything.

Well.. SHA-256 has been demonstrated to have non-random properties when 'step reduced'.   I believe some of the javascript sha algorithms have the option to set the number of rounds applied.
A lower number of rounds can be used in order to reduce CPU time - and I think it's worth reviewing whether enough rounds are being applied in this case.
 
148  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Just-Dice.com : Invest in 1% House Edge Dice Game on: July 15, 2013, 04:26:59 AM
Also - can you review the rng being used and confirm it's not subject to some mathematical analysis that is giving certain bettors an edge?

I'm also little uncomfortable with such a low house edge of 1% - as it's very few games at real casinos that have such a low margin for the house.
Perhaps it is just variance, but there's a reason casinos often have much higher edges...  the maths really could just screw the house over the 'short term' - but mathematically - what is 'short term' anyway?  
With such a low edge - surely there is the possibility the house is in a hole for *years*.

From my investment, it seems I'm already looking at about 4 months of *expected* return - just to get back to even - let alone profit.


edit: I guess to be provably fair - the randomness is purely from the sha512 hash which is being applied.
Is this known to have properly randomly distributed outputs for an incrementing input?
149  Bitcoin / Bitcoin Discussion / Re: Free Bitcoin! Well, only if you are my FB friend... on: July 15, 2013, 04:14:58 AM
I tried this with 0.1BTC - the offer is still there, and occasionally I repost it - and no, it seems people just aren't interested.

150  Bitcoin / Group buys / Re: [OPEN] BITFURY group buy and HOSTING in Poland EU - NO VAT - 199/300 shares sold on: July 11, 2013, 06:15:54 AM
question for investors, let's assume we will order our October unit. do we wish to order one backup board?
http://www.bitfurystrikesback.com/product/bitfury-55nm-asic-h-board/
it's damn cheap and it would be nice backup if one of 16 boards in main unit would fail.
obviously that additional 350 eur would be  splited among all investors according to owned share.

I guess it depends on whether the rig will run ok with one board taken out.
If so - then it wouldn't make much sense to buy a replacement in advance. They'll probably be cheaper later.
151  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Just-Dice.com : Invest in 1% House Edge Dice Game on: July 09, 2013, 08:56:22 PM
Dooglus, what steps have you taken (if any) to protect yourself from the 'wrench' cryptanalysis method (of xkcd fame: http://xkcd.com/538/) ?

There are plenty of people worth millions of dollars wandering the streets without too much worry I guess - but then, they aren't sitting on private keys which allow near-anonymous transfer of vast wealth instantly.

On the one hand - I'd like to see you being open about your identity, but on the other - it's a risk.


152  Economy / Speculation / Re: Interesting players on: July 07, 2013, 08:48:46 AM
I've been lurking quite a lot recently. I find the players here funny, obviously most of them are amateurs riding the emotion trend way to hard. If you were smart, you would just sell your coins then wait until there is a comfortable bottom. We are at $67 now according to mtgox/bitcoinity and I doubt this will be the floor. I'm guessing $40's. I'm not gonna waste any of you guy's time with charts but $40's or $30's is definitely the time to buy in.. why? Because even if that is not the floor you have little to lose depending on how much you are willing to gamble. Anyways, why are you weak ones panicing now? Did you really think that the high prices would last long for what still is a child in development. Wait, buy in at low 30-40 then sit. If it works out it works out, if it doesnt it shouldnt bother you anyway because the rule of thumb is never to put in more than you are willing to lose. Man, I feel bad for all the guys that posted on here 3 months ago talking about the loans they took out for BTC. Get serious.

amateur
With what justification. Please explain.

Let me help you.

The price could as easily have headed back into the region of $200 - and then instead of you saying "Did you really think that the high prices would last long..."
we'd have someone saying "Did you really think that the low prices would last long..."

I guess 'amateur' is a bit of a cheap shot - but all these 'hindsight' posts certainly smack of inexperience.


153  Economy / Speculation / Re: Statement on Resumption of Withdrawals and Improved Banking on: July 04, 2013, 08:15:36 AM


TOKYO - JAPAN - July 4th, 2013   Dear Mt. Gox Merchants,  Mt. Gox is happy to announce that global account withdrawals have now fully resumed as of today, after several days of testing our new system for processing transactions. We want to keep you informed about our progress in this arena, and especially assure our customers that their funds are accessible.


https://mtgox.com/press_release_20130704.htm

About time things start looking brighter?l

404 not found.
Are you attempting to manipulate the price by spreading a false rumour?
154  Alternate cryptocurrencies / Altcoin Discussion / Re: how do I withdraw bitcoins from ripple? on: July 04, 2013, 07:45:29 AM
1) Login to Bitstamp.net (create an account if you don't have one)

2) Go to Deposit

3) Click Ripple

4) Send the Bitcoin balance from Ripple client to the address shown in Bitstamp
*Note you can only send USD or Bitcoins to this ripple deposit address, if you try to send XRP or other currencies they will send it back*

5) Bitcoin balance will appear in Bitstamp

6) Go to Withdraw in Bitstamp and enter your bitcoin address

Done.

I'm having trouble with this step
"5) Bitcoin balance will appear in Bitstamp"

How long do I wait? Is this meant to be instant, or is it done manually by some ripple elf? I've been waiting a couple of hours and there's no indication of anything inbound in my bitstamp acount.
Uggh.. this is such an opaque system.

edit: ok - so I found some sort of inspection tool where I can look at the Bitstamp payment address:
https://ripple.com/graph/#rvYAfWj5gh67oV6fW32ZzP3Aw4Eubs59B
great.. a hideous blob which brings me no closer to seeing my own transaction.

Also saw on that site - total ripples: 99,999,999,983.5767
gosh.. at approx 6000 XRP to 1 BTC - that's *only* about 16.6 Million BTC worth of centrally issued bits... 
155  Economy / Service Announcements / Re: [ANN] LocalBitcoins.com - a location-based bitcoin to cash marketplace on: June 27, 2013, 08:17:20 AM
I got a few (still unconfirmed) positive feedback from trade partners and the support tells me that they are not able to confirm it and that I should wait for better times coming  Sad
You can fix that in the future by restricting your ads to people with verified SMS numbers.
There's no point in that. Why should a trader restrict his ads to people with verified SMS numbers?

I did it to weed out some of the no-shows.
156  Economy / Service Announcements / Re: [ANN] LocalBitcoins.com - a location-based bitcoin to cash marketplace on: June 26, 2013, 03:14:55 AM

- site does not remember location, sometime it requests to access my location, sometime I have to type where I live

Yeah - the autodetection of location is not very useful. It guesses my location as being on the other side of the continent. Thousands of km away.
I don't use a VPN or anything fancy - but I guess some IP address geodata database has some bad entries.

I'd much prefer just to be able to type in a location and have it remember it.

157  Bitcoin / Hardware / Re: [CLOSED] Avalon ASIC chip distribution on: June 26, 2013, 01:32:14 AM
Sorry if this has been covered.. but are there any sample chips still available?
I have ordered 700 chips - which I'll be getting assembled with burnin, but I've recently become aware of a group here in Sydney with access to PCB manufacturing facilities, pick & place machine etc who are trying to get a project going.
158  Economy / Service Announcements / Re: [ANN] Introducing the Mt.Gox Trusted Vendor Program on: June 24, 2013, 02:12:19 AM
All the previous (and old) discussion aside, I cannot find a list of currently trusted vendors available on Mt.Gox Website. The way I see it now, anyone can put a logo on their Website and link to https://mtgox.com/press_release_20120705.html

How does this "improve confidence in Bitcoin businesses for consumers"? A consumer cannot easily verify that a business is verified by Mt.Gox as trusted.



Any update on this?  I found this thread because I saw a particular business claiming to be a Mt.Gox trusted vendor and I want to verify it.
btradeaustralia.com

Has MtGox really implemented a 'trusted vendor program' without any easy way to confirm?? Bizarre.
159  Economy / Speculation / Re: I believe panic selling on Mt. Gox will ensue within 2 weeks on: June 24, 2013, 01:51:05 AM
I still have $0.52859 in my account, any way to get that out?

Can't buy less then .01 BTC, and im sure a bank transfer would cost more than what it's worth, any ideas?

And yes i am serious, its only $0.52859 but it's my $0.52859

Yes you can buy less than 0.01 BTC on MtGox.

Just type in 0.01BTC and buy it.

The *interface* only lets you type in 0.01BTC or more - but it will simply buy whatever you have the funds for.

I've often been left with a few cents or even fractions of a cent in Fiat, but successfully bought some satoshis with it.

160  Bitcoin / Hardware / Re: Jalapeno fan blade snapped on: June 23, 2013, 11:05:35 PM
How high did the temp go? Over 50 celsius?

Undoubtedly - though I don't know exactly. It was so hot I was in a hurry to turn it off.
It was doing about 5.2Gh/s just before I discovered the problem.
Now that it's up and running with a new fan its doing about 5.7Gh/s - which seems about right.

The fan was clearly not spinning at the end.  There was a burnt-looking IC inside the fan motor.

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