Wow! We just had yet another big slots jackpot! Congratulations user e2a95ca2e2 on your 136.59 BTC jackpot!

Congratulations user 0d424ae50a on your 276.61 BTC jackpot!!! We continue to have HUGE slots payouts!

Yeah, the blackjack jackpots used to be a lot bigger back when the minimum bet was 0.001 BTC.

Wow, lots of questions! I'll try my best to address all of your concerns.

When handling deposits, Bitcoin Video Casino essentially works like an online wallet. We generate a new random Bitcoin address for each account that gets created. Then, when we see a deposit, we credit the account associated with this address. We credit the user's account by updating our database to include the new deposit that we detected. Then, when the user plays games on our site, we change his credit balance in the database as he wins and loses games.

When we get a deposit, we essentially just pool those coins into our online hot wallet. We then use this pool of coins to pay out future winnings to all users. When there are big wins, we manually move coins from cold storage to the hot wallet so that there are enough coins to fund the withdrawal.

If you inspect your Bitcoin Video Casino deposit address in the block chain, it can show you how many coins you have deposited, but it cannot tell you anything about how many coins you have withdrawn or whether you have won or lost games on the site.
 
Other online wallets operate in a similar way. If you send Bitcoins to your Coinbase or Circle account, your account information on their internal database is updated. When you then later use that service to send coins, they will most likely come from some other address instead of where you originally sent the coins.

We try to only keep a small amount of Bitcoins in our hot wallet. This means that if you made a large deposit to a Bitcoin Video Casino address, and then tried to withdraw all of the coins, you would most likely get your own coins back from the same address you used, since there wouldn't be any other hot wallet coins available to otherwise complete the withdrawal.

We picked our Blackjack rules to have a small 0.5% house edge. On top of that, we add an additional 0.1% of all Blackjack games played to the progressive jackpot. Just a few days ago a lucky user won over 45 BTC because he hit the progressive jackpot, so it's a pretty big contribution. This means that our final house edge is just 0.4%. If we were to change the rules to allow dealer peaking or doubling split aces, it would further lower our house edge to be quite small. Bitzino runs a nice Blackjack site, and their rules do appear slightly more favorable to the user. However, this is in exchange for not having a large progressive jackpot like we do. Some people also seem to like our fast gameplay and old-school graphics. So it's really a matter of what you're looking for in a Bitcoin Blackjack game. If anyone has suggestions on how to tweak our Blackjack rules to keep the 0.5% house edge but enable the rules that you suggested, please let us know!

It's incredibly frustrating when we hear that some games seem to freeze up on users. I want to say that I am very sad to hear when this happens. Usually what happens is that the user's game command makes it to our server, and we continue/finish the game like we normally do, and send the result back to the user. The result unfortunately doesn't make it back to the user, so it appears that the game has hung. When we try to check the game in the database, everything appears normal on our end. The game appears to have been played normally and the user's account was credited for any wins.

If you experience a frozen game, please email us at admin@bitcoinvideocasino.com and we will take a closer look. Please let us know the Bitcoin address where you make deposits, so that we can locate your account. We will then check the database and locate any games that were not played to completion, and will then happily refund any games we find. If you can send a screenshot with any helpful information, we can try to locate that particular game to see what happened.  I know that this is not an ideal situation, but until we can figure out why this is happening for some users, this is the best we can do. We have been around for almost two years now and have absolutely no intention of cheating our users in any way. I would hope that all the previous posts on this forum about our site help show that we are legitimate.

Thanks for the thorough feedback. Please let me know if you have any other questions or concerns about the site.

Congratulations user ed08fa8fb5 on your 46.31 BTC jackpot!!! This was won playing Slots with 0.001 BTC credits.

We had a nice Blackjack jackpot today. Congratulations user ed08fa8fb5 on your 39.6705124 BTC jackpot!

Wow! Thanks so much for the nice words! It really means a lot to us.

Congratulations user dd1ab1a404 on your nice 58.721 BTC jackpot!!!

This was from playing the smaller 0.001 BTC credit size, and was actually won on a free bonus spin!

Less than a week after the last giant jackpot, we have another big winner! Congratulations user 2ad5a40d66 on your huge 125.76 BTC jackpot!!!

Thanks for sharing your experience on the forums.

Our games are all provably fair, so the house edge is legit.

Perhaps we could release a file with all hands that have ever been dealt in blackjack. People would then be free to analyze the hands to try to find inconsistencies. Would something like that help with the trustworthiness of the site?

Hi,

I took a closer look at your account.

On Sat, 30 Aug 2014 03:09:45 GMT you played a game of slots and got five wheels. This was game ID e6e683be8f3b268242c1edea5817f082. The server seed was gZYMjVfS4M4w9xLLqTUPh6SfcFJX47SwtdBFSPG5bP6q and the client seed was 33065653483721620144. Your prize was 200 credits.

I believe what happened is that you played slots and won five wheels. You then continued to play slots, which resulted in the "my games" table no longer showing the game of slots where you won five wheels. You then noticed that the chat window displayed the message that you had won five wheels. At this point in time, that particular game was no longer visible in the "my games" table. Is it possible that this is what happened?

No other user has ever reported incorrect games showing up in the chat window, especially for one's own account. It doesn't make sense for us to try to display incorrect information here, especially since this is so easily verifiable by the user.

You're right that maybe we should include an image of our games in the OP. The main concern was that it would make the post too big, but perhaps that's OK for something like this.

Hehe, sorry about linking you to our twitter account. It looks like somehow the links to our site got deleted somehow. Thanks for pointing this out!

I have now added a couple links to our site in the OP.

Yeah that was a really big win. The jackpot had been building up for a while and finally got hit by a super lucky guy.

The leaderboard numbers don't take into account the amount of coins that a user has spent playing the games. For example, if you play a game of video poker for 0.001 BTC and win back your money on a pair, that would count as 0.001 BTC towards your leaderboard score. This way the score can only go up, which we thought would be more fun for the user.

We had our third biggest jackpot ever! Congratulations user 3d062b7b6b on your enormous 231.27 BTC slots jackpot!!!

I'm sure that we can set something up so that everybody is happy. Escrow is probably fine, assuming it's a trusted third party.

Please send me an email at admin@bitcoinvideocasino.com and I can send you the financial numbers. From that we can hopefully work out a price!

The site is still doing well. These past few months have been some of the best in terms of BTC and USD profits.

Thanks for sharing your thoughts. I'll try to address all of your concerns to the best of my ability.

We haven't released the financial numbers to the public because one of the founders does not feel comfortable doing that. He is primarily concerned with his privacy. He doesn't want people to be able to link his personal identity to how much money he has made. He also would prefer the public to not know the specifics of how much the site is making. I can sympathize with his concerns, and I respect his wishes.

With that said, send us an email with a PGP public key and a few words about your experience running an internet business, and we will send you the complete financial information for the business.

Our profits are not just a result of the price of BTC skyrocketing. Most of our profits (in USD) have come when the price of BTC was already high. In our financial documents, we also show what our monthly profits were in USD using the average price of BTC for that month. We have big profits because players are using the site and are making big bets.

It certainly makes sense that a serious buyer would want to discuss the purchase price in USD. This is totally fine. We initially tell people that email us that the site earned 2000 BTC last year just so that they have some idea how much money is involved. If they had hoped to buy a site for 100 BTC, that information will quickly show that it's not possible. The sizes of our jackpot prizes should also be an indication of this. Again, we have financial information available in USD and BTC.

We know that Bitcoin businesses are risky, and we know that we cannot sell this site at a profit multiplier typical of online businesses. The 2000 BTC statement was just an initial piece of information, not a starting price. We are willing to sell the site for less than a year of profit. This means that if you operate the site for perhaps 3-6 months you will make your investment back, and then everything else after that is pure profit. If you invest extra in marketing and promotion, you could further reduce this time.

The huge win on May 8, 2014 was also a shock to us. We were stunned that a single jackpot could result in a win of over 700 BTC. What had happened was that our 0.01 BTC slots jackpot had gotten very large. I believe it was over 300 but I could be wrong. A single user  then decided to try to win the whole thing, and had a large pool of Bitcoins to make it happen. Unfortunately for him, it took a lot of bets before he finally hit the jackpot. This caused the progressive jackpot to swell in size, which he then won back. Our games are provably fair, so we had absolutely no control over how many games would be needed to win that jackpot. He could have won the jackpot after 1 game, or it could have taken millions. Please keep in mind that we also have a lot of slots jackpots that get hit before their expected size. Because a jackpot is pretty rare, there is a lot of variation in this respect.

The large wins that you see for the months of December and June are 100% accurate. Some players do come to our site and win big. There were two giant Slots jackpots in December that added up to over 400 BTC. We absolutely paid those coins out. We have done the math and our business allows us to make a good profit and still give out large prizes. Sometimes users return to this forum to talk about a big jackpot they just won, and we are grateful when they do that.

Thanks for the suggestion.

You're right that it's maybe not so difficult to build a site these days. Our site however still represents many many months of development, and a lot of trial and error, especially with the design side of things. We've also learned a lot of lessons along the way, some of which ended up costing us a few Bitcoins. Do you really want to build a business with cheap developers pumping out questionable code? Especially if your own Bitcoins are on the line in all the games?

There is more to a web site besides the code and art. The trustworthiness of the brand goes a long way to ensure that customers will continue coming to the site and recommending the site to new users. We have been around for almost two years, so it should be clear that we run a legitimate business. Any new casino that comes out now doesn't have that benefit. We also have financial numbers for two years, so the purchaser would have some sense what his profits would look like.

If someone is serious enough about wanting to take over our successful internet business, he surely will have enough time to send us an email to get more details.

If anybody knows someone that would be interested in buying the site, we can happily offer a nice finder's fee.

Congratulations on your big slots jackpot!!!

Thanks for helping to spread the good word about the site.