Prcdice closed the investment feature

[cryptasm]

So from what I heard, dean is planning to reduce the investment slowly on prc, to make the site private funded.
(by himself)
Prcdice is currently the biggest bitcoin dice investing site, so I am curious what will happen...

[subSTRATA]

i would expect that most of the investors with funds in prc would simply move their investments elsewhere, JD is the first one that comes to mind.

[ticoti]

Probably they just want to make more profit with own bitcoins now they have made a good fund

[cryptasm]

Yea Jd is a option if you are willing to adobt Clams
I hold btc mostly and I dont wanna buy with all my coins clams

[sukamasoto]

Just want to know what is the pros and cons the investment feature ?

i would expect that most of the investors with funds in prc would simply move their investments elsewhere, JD is the first one that comes to mind.

or DaDice  

[cryptasm]

Probably they just want to make more profit with own bitcoins now they have made a good fund

yea Dean went from:
taking 10% of investors profit
to taking 0.10% wagered
to taking 0.25% wagered
to taking everything wagered
so you could kinda see this coming

[pokerowned]

isnt prc 1 of the biggest casinos online? why would he screw himeself over like this? greed? or thinking on taking off?

[cryptasm]

Dean thinks he can use the investor based gambling community to bet on his soon private funded site
but its his website his decissions and he should do what he thinks is the best for the site

[win win win]

Probably they just want to make more profit with own bitcoins now they have made a good fund

yea Dean went from:
taking 10% of investors profit
to taking 0.10% wagered
to taking 0.25% wagered
to taking everything wagered
so you could kinda see this coming

its shocking there hasn't been a site to fill the gap just dice left when they moved to clams, Can someone explain why just dice is traded in clams?

PRC is disappointing, I will be withdrawing my money now.

[BetterBets.io]

Hi, I started this thread to keep investors updated and let new people know where we came from historically/financially here: https://bitcointalk.org/index.php?topic=1097541.0

I waited to do this until one month after we launched BetterBets, after initial business startup had calmed down a little. I think many people may have dismissed us at first but you can see for yourselves the past 72 days (so far) have been very lucrative for investors. Investing with us through Moneypot.com doesn't do anything for BetterBets financially, but for players it allows a larger per bet max payout so it keeps them happy. This is just to give you all an option you may not have realized was available, good luck with your investments gentleman.

-Bjorn

[ACCTseller]

i would expect that most of the investors with funds in prc would simply move their investments elsewhere, JD is the first one that comes to mind.

or DaDice  

This would be a horrible idea

I am not sure just how many people will invest in JD because dooglus intentionally tried to limit the amount of money he holds for others by only accepting clams instead of bitcoin. Plus clams are not exactly the most liquid altcoin out there, so it would be difficult to transfer money in or out of clams

[cryptasm]

Probably they just want to make more profit with own bitcoins now they have made a good fund

yea Dean went from:
taking 10% of investors profit
to taking 0.10% wagered
to taking 0.25% wagered
to taking everything wagered
so you could kinda see this coming

its shocking there hasn't been a site to fill the gap just dice left when they moved to clams, Can someone explain why just dice is traded in clams?

PRC is disappointing, I will be withdrawing my money now.

dooglus doesnt put himself at risk with clams and the canadian bitcoin laws

[FanEagle]

Well,isn't the fact that he wants to sell the website the reason of reducing the investment? That's the only reasonable reason I have in mind.

[win win win]

Probably they just want to make more profit with own bitcoins now they have made a good fund

yea Dean went from:
taking 10% of investors profit
to taking 0.10% wagered
to taking 0.25% wagered
to taking everything wagered
so you could kinda see this coming

its shocking there hasn't been a site to fill the gap just dice left when they moved to clams, Can someone explain why just dice is traded in clams?

PRC is disappointing, I will be withdrawing my money now.

dooglus doesnt put himself at risk with clams and the canadian bitcoin laws

Yeah I assume this was the reason.


Has PRC issued a update, why they have done this?

[arallmuus]

Has PRC issued a update, why they have done this?

Dean has mentioned the reason that this is done (references below)

There's a few reasons I limited the investment:
1) I don't want to hold on to 5k Bitcoin of other peoples money, as mentioned before.
2) I want PRC to bankroll 100% and have no investors but I think it's best to do it in smaller steps so as not to have drastic changes.
3) The biggest concern for potential buyers is "Will the site be as popular without investment", I can get data on that if I bankroll myself.

#3 is most likely the reason why he is doing this as Dean has stated that he only wants a buyer that has funds to bankroll the site himself therefore the concern will be wether PRC will be as successful as it is now if there is no huge bankroll that is funded by the investor but then again the question will be how many BTC will Dean by able to fund this himself assuming all the investor has cashed out.
Plus there is no reason to invest in there because unless someone lost "huge" amount there and not "wager" alot then investor wont be getting profit though

Well,isn't the fact that he wants to sell the website the reason of reducing the investment? That's the only reasonable reason I have in mind.

This could be either the reason as he might want to cash the investor out little by little rather than making an immediate statement to cash them out in the future

[waterpile]

isnt prc 1 of the biggest casinos online? why would he screw himeself over like this? greed? or thinking on taking off?

imo its no longer profitable for him, think about it, the expenses involve in running the website and the man hrs that he worked and if it were profitable for him, he wouldnt decide to make it private plus profit was been like stagnant for many Mos..

[nikona]

isnt prc 1 of the biggest casinos online? why would he screw himeself over like this? greed? or thinking on taking off?

imo its no longer profitable for him, think about it, the expenses involve in running the website and the man hrs that he worked and if it were profitable for him, he wouldnt decide to make it private plus profit was been like stagnant for many Mos..

Profit hasn't been stagnant for many months. Few days back I saw that profit for the month of July was 580 bitcoins, so it definitely isn't stagnant. I am sure he is also making good money due to the highest charges on the wagered amount 0.1% on other sites compared to 0.25% on prc.

[a1choi]

I understand Dean's move as he was interested in selling the site all together if the bid/buyer was right.  I hope this bodes well for new entrants into the crowdfunded casino space.  I'm actually working on a new casino with a brand new game that will be crowdfunded.  Details coming soon.  Hope there are still lots of interested investors looking for a new game and trusted place to store their coins.

[arallmuus]

imo its no longer profitable for him

It is still profitable for him . He takes 0.25 % of the wagered amount and not to mention he probably has some stash of his own BTC invested on the site as well.
If the investor is still profitable then so does he. The reason of this could be that he is either thinking of "getting more profit" ( he even want to bankroll the new swisssoft game by himself ) or either wanting to prove to a potential buyer that the site could surivive even without crowdfunded bankroll because he insisted on it

the expenses involve in running the website and the man hrs that he worked

Expenses will always be there and it cant be avoided

charges on the wagered amount 0.1% on other sites

other sites usually takes 10 % comission of the profit

[a1choi]

charges on the wagered amount 0.1% on other sites

other sites usually takes 10 % comission of the profit

These two are theoretically the same if you look at this from an infinite time range. (super long term)   In the short term, there will definitely be differences between these two methods.

Another way to look at it is that Dean currently taking 25% of profit.  (but he's taking it risk-free on wagered, which is way better than only taking it on house profits)