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1  Economy / Gambling / Re: bustabit – The original crash game on: February 27, 2024, 11:31:53 AM
It's a good start for Bustabit players under the new owner.

Leo, do you plan to change anything, like any marketing campaigns to increase the wagered amount?

I'm surprised so much bankroll stayed, maybe Leo himself was a big investor.
2  Economy / Gambling / Re: bustabit – The original crash game on: February 22, 2024, 04:14:51 PM
I did not look at the data, I am going by your figures and was surprised at the 1.5 BTC you mentioned. If you are right, he was making over 500 BTC per year and that is simply unbelievable. Well done to Daniel of course if those are a fair reflection of BTC he is making. I had no idea the profitability for the owner would have been that much.

Really?

Devans is making something like 1.5 BTC A DAY as of now.

You can estimate it from the casino's data: https://stats.bustabit.com/v2/bankroll_stats.csv

Now it's less as there have been some divestments, 1.5 BTC was at around 87% fee.

I wonder how much bankroll will be left, I'm debating whether to leave anything.

I just checked again and it's still at around 1.5 BTC a day. Really impressive, it's sad that he decided to sell this business.
3  Economy / Gambling / Re: bustabit – The original crash game on: February 22, 2024, 03:54:24 PM
I wonder how much bankroll will be left, I'm debating whether to leave anything.
You are speculating that after the change of hands, the previous investors might pull out? There are drops in the bankroll happening already but I see the bright side of this, individual investors stake increases and their possibility of higher wins increase proportionately as the other investors cash out. Hence I am sticking with my same plan and not touching my investment at all.

Just want to point out that I made 4% gains from my 2months investment on Moneypot - had to cash out after their declared their shut down and Leo moving to BAB and BAD now. I have faith in Leo along with Daniel and Ryan, so I am at ease.

Sure, that's the good thing about staying, but I don't know Leo at all.
4  Economy / Gambling / Re: bustabit – The original crash game on: February 22, 2024, 03:26:23 PM
Really?

Devans is making something like 1.5 BTC A DAY as of now.

You can estimate it from the casino's data: https://stats.bustabit.com/v2/bankroll_stats.csv

Now it's less as there have been some divestments, 1.5 BTC was at around 87% fee.

I wonder how much bankroll will be left, I'm debating whether to leave anything.
5  Economy / Gambling / Re: bustabit – The original crash game on: February 21, 2024, 07:38:54 PM
While it's true that the business is extraordinarily profitable, the financial aspect is secondary to me at this point. For me the sale is primarily about the responsibility that comes with owning bustabit and bustadice and the time commitment they require.

I could certainly save some time by hiring more staff, but some tasks cannot be delegated. For instance, I don't believe it's possible to reasonably give someone else full access to the database or game servers given how easy it would be for them to cheat bankroll investors without anyone ever knowing. So at a minimum I would continue to always be on call 24/7, involved in every server upgrade etc. That's not to mention that (IMHO) bustabit's success is at least in part due to me, its owner, being so accessible to players. I'm convinced bustabit would lose some of its appeal if it stopped being a "mom and pop" casino.

But even if somehow I could delegate everything and not have to spend any of my time at all, as the owner I would ultimately still consider myself responsible for players' and bankroll investors' money. That's not a burden I want to bear indefinitely. Of course I could have simply shut the casinos down, but that serves neither players, nor bankroll investors, nor myself well. Handing the reigns to Leo is the best thing I could do.

Some skepticism is natural, of course, but I remember that when I launched bustadice and later acquired bustabit I was virtually unknown and many people felt similarly about me. I like to think that I ended up doing alright and proving their concerns to be unfounded.

That's what I imagined, you have enough money and don't want to keep running it, so you sell it. I guess the valuation was quite low as profits are expected to drop, at least short term.

I don't have anything against Leo, I just don't know him, I was fine letting my investment grow over time because you ran this very well, I didn't just blindly trust you either from the beginning. How big was the bankroll in USD when you bought Bustabit?
6  Economy / Gambling / Re: bustabit – The original crash game on: February 21, 2024, 12:36:40 PM
I don't get this sale. The business is valued based on returns, but returns will be much lower without Devans. Why would investors trust someone they don't know? Less bankroll will mean less money being wagered.

Devans is making something like 1.5 BTC A DAY as of now. He must be worth a lot by now, and probably has "enough", but I don't understand how this is better than delegating his Bustabit work as probably he had to sell the business for a very low multiple. He could pay someone $10,000 a day for running this and still make a killing.
7  Economy / Gambling / Re: bustabit – The original crash game on: February 07, 2024, 08:57:02 PM
I guess most of the bankroll is from Daniel, as the commission is so high now.
8  Economy / Gambling / Re: ▄■▀■▄ 🌟BITVEST.io🌟 💰WIN BY 🔶PLAY 📈INVEST➡🔺🎲🎰🔲 | BET CONTEST ▄■▀■▄ on: February 04, 2024, 05:33:19 PM
Signature campaign spammers war.
9  Economy / Gambling / Re: bustabit – The original crash game on: January 21, 2024, 08:33:51 PM
I'm surprised people are investing at an 85% commission rate, the expected yield now is very low.
10  Economy / Gambling / Re: bustabit – The original crash game on: June 10, 2023, 11:36:26 AM
The signature campaign spammers are back...
11  Economy / Gambling / Re: bustabit – The original crash game on: June 06, 2023, 05:08:25 PM
<...>
When there is full peace here, they come around, don't they?  Grin
Some are sore losers, others are scammers looking to squeeze out a penny or two by making baseless accusations without even any single required proof. Maybe they think members around here will be fooled by their antics. Time wasters.

And some may be competitors spreading bullshit.
12  Economy / Gambling / Re: bustabit – The original crash game on: June 04, 2023, 10:00:11 PM
Hopefully, you get banned for spreading that bullshit. Bustabit is more reputable than most DEFI projects.
13  Economy / Gambling / Re: bustabit – The original crash game on: April 21, 2022, 09:15:52 AM
That depends on why I'm not able to operate them anymore, but I assume you're thinking about a bus-type situation. I've taken precautions to ensure that even in the worst case at a minimum bustabit can be wound down cleanly. I can't promise that bustabit and bustadice continue operating without me, but everyone including bankroll investors would be able to safely withdraw.

Is there some emergency auto withdrawal mechanism?
14  Economy / Gambling / Re: bustabit – The original crash game on: March 17, 2022, 05:01:14 PM
Commission rate:   98.7%

lol
15  Economy / Gambling / Re: bustabit – The original crash game on: February 24, 2022, 11:36:52 AM
Exactly. I guess the formula to calculate fees is the same. btcxdr_360d_average*current BTC/55000000

For bustadice the factor is 80,000,000 instead of 55,000,000, but apart from that it is the same.

What would happen to these websites if you weren't able to operate them anymore?
16  Economy / Gambling / Re: bustabit – The original crash game on: February 21, 2022, 09:57:57 PM
Where can I see Bustadice's daily wagered history? Something like https://www.bustabit.com/bankroll_stats.csv for Bustadice.

You mean: https://bustadice.com/bankroll_stats.csv ?

@Daniel on a side note, it'd be kinda nice to have a .html version (e.g. a formatted table) of those stats, right now the .csv is hard to read unless you import it into a spreadsheet

Exactly. I guess the formula to calculate fees is the same. btcxdr_360d_average*current BTC/55000000
17  Economy / Gambling / Re: bustabit – The original crash game on: February 21, 2022, 09:40:00 PM
Estimating the bankroll's rate of return is difficult because of how many variables there are, but I'll give it a shot:

In 2021, bustabit saw 27,398,415 XDR in gross gaming revenue and the bankroll's current size is 39,339,068 XDR. Let's assume that the gross gaming revenue will be the same going forwards and let's also assume that the commission rate will stay the same at its current 80.9%. Further assuming there are no investments or divestments, that represents an estimated return of 5,233,097 XDR or 13.3% for bustabit's bankroll in 2022.

In reality, players won't win/lose exactly the same amount they did in the past, the commission rate will continue to change with the size of the bankroll and Bitcoin's price and investors will add to and remove from the bankroll. These things are difficult to model, though, and require more assumptions of their own.

For bustadice it's even more difficult because its revenue is less consistent and the bankroll is still recovering from a loss in early 2021. Using the same methodology as above I arrive at an estimated rate of return of only 0.3% per year. In reality, its average annual revenue is larger than it was in 2021 and the bankroll will probably decrease in size once it reaches its all-time high profit again and it starts paying the commission again.

Where can I see Bustadice's daily wagered history? Something like https://www.bustabit.com/bankroll_stats.csv for Bustadice.

What would happen to these websites if for some reason you couldn't work on them anymore?
18  Economy / Gambling / Re: bustabit – The original crash game on: July 05, 2021, 09:09:13 AM
I checked both Bustabit and Bustadice, one has around 2188 BTC and the other has around 2200 BTC in bankrolls. If memory serves correct both websites had around 10,000 BTC bankroll each last year.

Why such large divestment in such a short space of time?


Wow,

Looks like someone (or a group of folks) bit the bullet and divested from the bankroll. We are down to 2965 BTC invested. Could also be people taking profits given the current jump in price of BTC or maybe someone decided its time to buy that island they always wanted to retire to. Wink

Because returns are shit now. I'm surprised bankrolls are still so big.
19  Economy / Gambling / Re: ▄■▀■▄ 🌟BITVEST.io🌟 💰WIN BY 🔶PLAY 📈INVEST➡🔺🎲🎰🔲 | BET CONTEST ▄■▀■▄ on: April 16, 2021, 05:28:46 AM
Refill the DOGE wallet.
20  Economy / Gambling / Re: bustabit – The original crash game on: March 14, 2021, 10:08:22 AM
I wouldn't expect any significant divestment until the changes come into effect or right until before then. Currently we'd need to see a divestment of about 1,400 BTC after the change to bring the commission rate back down to 50%. More will be required eventually if Bitcoin's price remains at this level or continues to increase, but since the calculation uses a 360-day moving average that will happen gradually.
If the divestment isn't as high as anticipated, perhaps info about estimated ROI (of a given investment, ceteris paribus) could be added.
There is no situation where it is not as high as anticipated, if that happens we are really screwed, like it would all go to devans as a punishment for investing too much and if people are fine with that only one that will gain from this would be devans, nobody would gain from this. Obviously people do not want to be the one to get out, if I am in this and if it will go back to what it was, I will profit from this, and why would I get out of something that I will profit?

Plus, the money that is taken out is the profit that I should be getting, so my money is still doing fine, not like I am paying to stay here, hence there is no loss neither, that is why I am not getting out, and others may not as well, but if not enough people do not get out, that is going to be hurting the situation a lot for all of us, that is why I think we have to get out eventually, one way or another.

What about opportunity costs? I don't get why people are still invested.
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