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1  Economy / Gambling / Re: BETKING & DEAN NOLAN: Disastrous Reputation! Read This Reddit Post. on: April 02, 2021, 07:55:57 AM
You're going to see a lot of people coming out of the woodwork trying to reclaim the large bankroll investors that are leaving Bustabit. Explains this.
2  Economy / Gambling / Re: bustabit The original crash game on: March 31, 2021, 12:10:55 AM
I think it is obvious that many people missed on bitcoin chance

It's not obvious to me at all. Isn't it possible that there are still significant gains to be made on Bitcoin?

Sent you a PM.
3  Economy / Gambling / Re: bustabit The original crash game on: March 30, 2021, 08:45:16 PM
The fact is, investors are going to stay invested in Bustabit for awhile because there's still not any better options for investors to get a yearly ROI than Bustabit at current commission rates. This could change in an instant if, for example, Dooglus decided to re-open Just-dice for Bitcoin or if, say, RHavar wanted to re-open a investment casino of some kind. This has created a massive demand for a new bitcoin investment casino that will at some point be filled by somebody. It happened when JD first shut down, investors didn't know where to put their money and PRC Dice exploded out of nowhere and dominated. Then, PRC through inept ownership and raising their bankroll commission % + a disastrous ICO fucked up and people moved their money to a few different dice sites, before Bustabit and Bustadice really took over as the pre-imminent Bitcoin investment casinos. Make no mistake about it, someone will fill this demand in the market, it's just a matter of who and when.
4  Economy / Gambling / Re: bustabit The original crash game on: February 03, 2021, 01:16:16 AM
Pretty disappointing to see the investing rules change so drastically after they were just altered a couple months ago. If it's too complicated for RHavar to wrap his head around, I'm not even going to try. I have no clue what the new rules are, other than it's now tied to fiat value and commission rates will go down significantly, which to me seems pretty silly. The fact is, the bankroll size has been decreasing steadily since devans changed the bankroll rules a couple months ago, from ~4900 bitcoin to ~4200 now, so if the goal is to reduce the bankroll size the previous rules seemed to be working just fine. The only way it's "increased" is in fiat size, which I don't understand why it would even be relevant. It seems to only come into play when the price is *increasing*, and we don't hear a word about it when it's staying even or decreasing.

The facts are, # of bets daily is down drastically past few months and because the bankroll has been steadily going down, devans commission % has dropped to around 42% of a much smaller pie. He has every right to squeeze investors, but I wish we could just be more upfront about what's actually going on here. The past bankroll rules changes negatively impacted devans' bottom line and this is being done to recoup lost money. I wish we could just have a set % taken as commission without making this as complicated as humanly possible. Change it monthly if you'd like.

devans has every right to change the bankroll/investor rules however he likes, as frequently as he likes. Just giving my 2 cents.
5  Economy / Gambling / Re: bustabit The original crash game on: November 25, 2020, 01:04:05 PM
Does anybody know what proportion of bankroll investors are actually playing and betting at Bustabit? If as an example devans (however unlikely) decided to return the bankroll and fund the site himself, how many of those bankroll investors that play there because they have invested - would stop betting there?

If for example 50% of all users betting at Bustabit are bankroll investors then there would be a large chunk of those that would stop betting there if they withdrew their bankroll, right? So would the website be as profitable and successful without the present bankroll structure? I think the status quo suits everybody so there is no need to change anything.


All this talk of advertisement has people missing the main point: When you run a crowd-funded bankroll dice/crash site, the most effective marketing you can have is having the largest bankroll/betting limits/# of investors. It's an immediate boost to credibility and bankroll investors act as co-owners of sorts driving traffic to the site since it's in their best interest - and thereby not pushing/promoting other sites where they deem their investment to be more profitable. If, for example, Daniel decided tomorrow to eliminate bankroll investors and fund the site himself, it would have a large detrimental affect on the betting volume on the site if all other factors remained the same. As long as he has the biggest bankroll and largest # of investors, Bustabit will continue to crush it.

I'd guess the number of investors with >0.5 btc invested who are also regular players is somewhere below 10%. Makes it *extremely* -ev to divest and reinvest in bankroll frequently, so you'd have to just be  withdrawing every so often to bet, which I'm sure happens just at a low frequency.
6  Economy / Gambling / Re: bustabit The original crash game on: November 25, 2020, 12:55:30 AM
All this talk of advertisement has people missing the main point: When you run a crowd-funded bankroll dice/crash site, the most effective marketing you can have is having the largest bankroll/betting limits/# of investors. It's an immediate boost to credibility and bankroll investors act as co-owners of sorts driving traffic to the site since it's in their best interest - and thereby not pushing/promoting other sites where they deem their investment to be more profitable. If, for example, Daniel decided tomorrow to eliminate bankroll investors and fund the site himself, it would have a large detrimental affect on the betting volume on the site if all other factors remained the same. As long as he has the biggest bankroll and largest # of investors, Bustabit will continue to crush it.
7  Economy / Gambling / Re: bustabit The original crash game on: November 22, 2020, 09:29:54 AM
The 2-of-3 multisig cold wallet I think is a brilliant idea (for multiple reasons). I hope devans is doing something similar on bustabit. If devans hasn't already revealed a basic overview of how he handles bustabit's cold wallet (I assume RHavar would've known otherwise) I'd be interested in knowing for peace-of-mind reasons. I assumed bit/dice both used the same multisig cold wallet storage techniques, but if devans has a superior way of doing it, don't know why he wouldn't use whatever is the safest, most secure option on both sites.
8  Economy / Gambling / Re: bustabit The original crash game on: November 21, 2020, 11:44:22 PM

I have never been doing that for bustabit. I do that for bustadice, as I run the audit server -- so it makes sense in that context -- as running the audit server allows me to verify wins/loses due to bustadice's multi-party provably fair scheme (there's basically 2 server seeds, and the audit server has one which Daniel himself doesn't know).

So, to clarify, Bustabit has one sole owner of the cold wallet (devans) and bustadice's cold wallet had 3 multi-sig owners that require at least 2 signatures to open it?

Is this right?
9  Economy / Gambling / Re: bustabit The original crash game on: November 21, 2020, 12:17:57 PM
Is RHavar no longer one of the 3 multi-sigs for the cold wallet? devans said he has no role beyond being an investor and former owner.

And I disagree with changing commission structure based on USD. Keep it in Bitcoin.
10  Economy / Gambling / Re: bustabit The original crash game on: November 21, 2020, 12:43:00 AM
Zero chance he's paying out Bitcoin instead of dilution fee credits (lol).
11  Economy / Gambling / Re: bustabit The original crash game on: November 16, 2020, 10:33:03 AM
Can someone explain the bankroll investment changes in layman's terms? I'm confused. Preferably comparing how it works now to how it now will work.
12  Economy / Gambling / Re: BetKing.io is a blatant scam operated by Dean Nolan on: November 08, 2020, 12:25:14 PM
Betking ran a long time before they closed, with almost *zero* action. This relaunch will similarly fail miserably in terms of driving traffic. Dean's name/reputation is in tatters due to his child-like reactions to criticism and dodging important questions regarding where ICO funds went and providing *proof* that bankroll funds were actually hacked/stolen - something I still find extremely hard to believe. Even if it's true he was hacked, turning around and trusting him with funds for a bankroll would be incredibly dumb.

Dean fucked up royally. A golden goose that was dropped into his lap after Just-Dice shut down. He could've made tens of millions of dollars. Instead, his own ego and terrible business management, coupled with what can only be assumed was scamming bankroll investors until he provides proof he was hacked means this relaunch is dead in the water.

Dean's only chance would be to transfer control of Betking to someone reputable and skilled, and work on the backend. He'll never run a successful dice site on his own again.
13  Economy / Gambling / Re: bustabit The original crash game on: August 06, 2020, 09:53:22 AM
How so?
I get a % share in the BR and based on this I receive my Interest..
How do I make less the more I invest?

Suppose that the bankroll before you invest is 5000 BTC, and that over the course of your investment players lose 50 BTC.

If you invest 0.01 BTC then you have 0.01 out of 5000.01 and earn 0.0001 BTC which is a 1% return.

If you invest 1 BTC then you have 1 out of 5001 and earn 0.009998 BTC which is a 0.9998% return.

If you invest 100 BTC then you have 100 out of 5100 and earn 0.98039216 BTC which is a 0.98039216% return.

If you invest 5000 BTC then you have 5000 out of 10000 and earn 25 BTC which is a 0.5% return.

The more you invest, the smaller your percentage return (assuming your investment doesn't entice new whales to play and lose).

I feel dumb that I never realized it worked like this.
14  Economy / Gambling / Re: HUGE ACTION PokerBros room accepting new poker players ($100,000 GTD MTT) on: May 25, 2020, 08:52:26 AM
Poker
15  Economy / Gambling / Re: BETKING & DEAN NOLAN: Disastrous Reputation! Read This Reddit Post. on: April 29, 2020, 06:37:48 AM
But I don't also want to call him a scammer just yet. I just think he's broke.

It's certainly possible he's broke, but there's no way that happened without him misappropriating funds. Like for him to have no money, it means he managed to lose:

a) His own money [Ok, fine. Who doesn't like hookers and blow, and it's his to waste ]
b) Bankroll investor money [Ok, fine. I'm willing to suspend disbelieve and accept there was a bug in which someone knew the server and won the server seed]

but more dubiously:

c) ICO investor money [wtf, I've run a far bigger site than Deans. There's no way he would've even put a dent in the raised funds, even with its low volumes it should've been turning a mild profit]

and then last, completely unexplainable:

d) Player balance funds [in fact, Dean has yet to even comment on how this is even possible. That's how outrageous it is]


----

I knew there was something wrong when Dean kept bugging me to buy his ICO tokens, and I expressed concern about him canceling the buy-backs. Dean kept saying that it was impossible, and I pointed out there could even be external events that made it impossible such as bitcoin price gaping down. Dean then tried to assure me that it was impossible, because he "systems in place" to automatically sell bitcoin if the price fell such that it would risk his ability to do the buy-backs.

That was the moment I knew there was something seriously wrong. It was clearly bullshit, no one in crypto is going to keep their funds on an exchange with auto-sell orders. Like c'mon. I bit my tongue and politely refused, but I knew there was something brewing and warned a few people to be careful. Then very shortly after, he unilaterally decided to not honor the promised buy-back scheme. There's just no way you can possible spin Dean's actions as anything but scammy to the extreme.

I think the only question is: why? Did he develop a gambling or drug problem and blow everyone's money? Or is he just greedy and sitting on everyone's money?

 

My guess is he gambled and spent it all away, including player funds. The player balance liability was a relatively low number he *thought* he'd have enough equity with his business to cover in a doomsday scenario where he lost all money (Ex: sell Betking assets, start new businesses). Problem is Dean has *always* massively overrated his worth

*Bare minimum* highly negligent. If he does have the intention of paying back everything though - and Bitsler is a start - I wouldn't label him a scammer. I think he's unethical for sure. I'd love for him to post proof and prove everyone wrong, but his refusal to do so looks terrible. I have to assume, reluctantly, that what he describes did not happen.

I do acknowledge you are highly intelligent and nuanced with your thoughts though so I respect your point of view on this. I was the one who wrote the original post on reddit calling out the ICO for being scummy. Dean has and always will be driven by making a buck. It's his *only* purpose. I think in his mind he believes his reputation is salvageable and his name is worth something. I disagree and think that's dumb, but at the same time it's probably the reason people will - hopefully - be paid back.
16  Economy / Gambling / Re: HUGE ACTION PokerBros room accepting new poker players ($100,000 GTD MTT) on: April 29, 2020, 02:35:00 AM
Good agent is rly important playing apps like PokerBros and PPP. Chaz is showing himself very good. Always online, fast answers and transfers. Rakeback is send str8 to my balance and withdrawals are mostly within 12 hours. Very satisfied with cooperation so far. Keep u up to date.

Thanks chipoloni, hope you've enjoyed your experience thus far!
17  Economy / Gambling / Re: BETKING & DEAN NOLAN: Disastrous Reputation! Read This Reddit Post. on: April 29, 2020, 02:33:46 AM
To be penniless after being essentially guaranteed to be rich the rest of your life is a tough pill to swallow. I legitimately feel for him.

I think you're perhaps being a bit too charitable. My sincere guess is that he's sitting on a considerable amount of bitcoin, and the im-so-broke is just a cover story to make recovery attempts sound unattractive. After all, that was his entire defence against investors considering (starting?) expensive legal action against him (along with threats that those would be the last to be "paid back").

We know he originally closed his site when he had secured enough money to basically comfortable retire. Then he only returned to the scene after seeing the ICO craze, and the opportunity to sell millions (!) of dollars of tokens to just reopen his site.

At one point even expressed interest in buying my site, I can't remember exactly but I think the number were were kicking around was ~10M dollars? And he was going to earmark funds for bankrolling it too. So I just don't see how the sudden leap from multi-millionaire with FU money, to penniless supposedly happened. I mean I wouldn't be terribly surprised if he developed a gambling problem or something, and blew everyone's money. But him trying to pretend he's penniless cause of "marketing" and "hacking" is ridiculous.

I could muster some empathy for him if he could be genuine for 30 seconds and try make amends. Until then, I think he's just an unrepentant scammer who is only here to add confusion and try clean up his name.

It's all speculation of course because Dean is extremely shady when you ask him for proof of anything. He's extremely hard to talk to because he re-directs constantly and leaves out important details, cherry picking what is easy for him. But, the fact he did run the dice site for years and did return player funds *to me* gives him some level of credibility. I think he would pay out of his own pocket if he could to refund entire player balances. I could easily be wrong. But I don't also want to call him a scammer just yet. I just think he's broke.
18  Economy / Gambling / Re: BETKING & DEAN NOLAN: Disastrous Reputation! Read This Reddit Post. on: April 28, 2020, 11:56:38 AM
My best guess as to what happened is Dean gambled away or spent all of the money, and in *his* mind it wasn't a scam cause he thought he'd be able to eventually make enough money with another project. I seriously doubt he has any money left. He is right that he gave back 6000 bitcoin to investors, that is the only reason I hesitate to call the guy a straight up scammer. He's just really, really, really fucking bad at PR and marketing. Fame and fortune fell into his lap when just-dice exited the dice market and he was the only viable alternate dice site, and unfortunately Dean squandered that opportunity in pretty spectacular fashion. To be penniless after being essentially guaranteed to be rich the rest of your life is a tough pill to swallow. I legitimately feel for him.

Unfortunately, I don't think Dean has anyone in his professional life he listens to to tell him when he's wrong, and actually heed the advice. That ego and standoff-ish attitude have led to him squandering a literal fortune.
19  Economy / Gambling / Re: HUGE ACTION PokerBros room accepting new poker players ($100,000 GTD MTT) on: April 28, 2020, 11:48:36 AM
Did you miss posting the specific poker website here, (is it pokerbros .com, .org, etc ?) . Is it posted already somewhere but I missed it or something? Would be nice to get the link from here in order to see what the site looks like, instead of searching for it via a search engine.

Hi ucy,

It is a mobile app. Have to download through your phone's app store or use an emulator to play on a PC.
20  Economy / Gambling / Re: BETKING & DEAN NOLAN: Disastrous Reputation! Read This Reddit Post. on: April 28, 2020, 12:51:37 AM
you *DO* owe it to the community to give a detailed explanation - with proof - of what happened.

I owe this forum fuck all.
This forum has caused me to lose millions of $ and destroyed my reputation (probably the 2nd most trusted person in this community at one point after dooglus).

Where was the community defending me and BetKing BEFORE anything happened when JollyGood was claiming the site was a scam for almost a year before there was even a problem?
Where were the token holders who managed to sell all their tokens for profit defending me?
Where were all the old BetKing bankroll investors, who made millions because of me, pointing out how obvious it was that jolly good was talking shit?

It was me left defending myself every single day. You can check my post history, I posted replies to all this shit for years non stop until it just became pointless.
No one would even believe anything I wrote. We just lost more and more players because of it.

No help from players, no token holders, no investors, no ex investors posted once to say he was wrong and the site was legit.

They all just believed his lies and even spread them themselves too.

Somehow I even got punished for being honest with investors. 

Investors are lucky I care about my name and that I'm a good person because this would be the easiest situation in the world to just say fuck it and not bother. They lost money investing ffs, what ceo would refund them? None.
Half them don't deserve it anyway after what they put me through.

So again, I owe you fuck all and I'll be off of here come June 1st when the final Bitsler refunds are done.


I wish you'd put aside the ego and put down the weapons just once, and just clearly explain yourself.

No one agrees that you shouldn't say anything. And there's plenty of well-reasoned, logical people here who would back you up if you proved your innocence.

Prove it though. All the other shit you or anyone else says is meaningless. Just stick to the proof and the facts.
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