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Author Topic: Re: 🔶 YOLOdice.com 🔶 play&invest BTC ETH LTC DOGE  (Read 132148 times)
hatshepsut93
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February 06, 2018, 07:06:42 AM
 #2041

Hey guys,

So, I've got some bad news: my exchange is losing me money. I will not continue to operate it if it's going to lose me money. I invested time and my own money into this mostly as a service to the site, but due to its simplicity, I lose money if the price swings one way or the other (BTC/LTC wise).

In my mind, there are a few things I can do:
  • Increase the flat fee rate from 1% to something higher, possibly 2%, 2.5%, or 3%
  • Attempt to dynamically scale the fee based on price movements, which wouldn't be perfect and would still just raise fees.
  • Stop running the exchange altogether

I could technically make mirror trades on an exchange to replace any funds I sell to users immediately, but this would incur exchange fees and require me to trust an exchange, two things I don't want to do.

If anybody has any other suggestions I'm open to them, but in a few days if nobody has any better ideas I'm likely going to do one of the above-listed things.

Maybe make a simple exchange bot with orders? People will send coins to your bot for a tiny fee and it will automatically execute trades as soon as there's a matching order, or will return the coins back when users cancel their orders. The bot can whisper in pm the list of all active orders to avoid clogging the chat.

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RGBKey
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February 06, 2018, 07:08:52 AM
 #2042

Hey guys,

So, I've got some bad news: my exchange is losing me money. I will not continue to operate it if it's going to lose me money. I invested time and my own money into this mostly as a service to the site, but due to its simplicity, I lose money if the price swings one way or the other (BTC/LTC wise).

In my mind, there are a few things I can do:
  • Increase the flat fee rate from 1% to something higher, possibly 2%, 2.5%, or 3%
  • Attempt to dynamically scale the fee based on price movements, which wouldn't be perfect and would still just raise fees.
  • Stop running the exchange altogether

I could technically make mirror trades on an exchange to replace any funds I sell to users immediately, but this would incur exchange fees and require me to trust an exchange, two things I don't want to do.

If anybody has any other suggestions I'm open to them, but in a few days if nobody has any better ideas I'm likely going to do one of the above-listed things.

Maybe make a simple exchange bot with orders? People will send coins to your bot for a tiny fee and it will automatically execute trades as soon as there's a matching order, or will return the coins back when users cancel their orders. The bot can whisper in pm the list of all active orders to avoid clogging the chat.

I've thought about it, but honestly it seems too complicated for the site, and much too complicated for a text-only format.
adaseb
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February 06, 2018, 08:22:41 AM
 #2043

Hey guys,

So, I've got some bad news: my exchange is losing me money. I will not continue to operate it if it's going to lose me money. I invested time and my own money into this mostly as a service to the site, but due to its simplicity, I lose money if the price swings one way or the other (BTC/LTC wise).

In my mind, there are a few things I can do:
  • Increase the flat fee rate from 1% to something higher, possibly 2%, 2.5%, or 3%
  • Attempt to dynamically scale the fee based on price movements, which wouldn't be perfect and would still just raise fees.
  • Stop running the exchange altogether

I could technically make mirror trades on an exchange to replace any funds I sell to users immediately, but this would incur exchange fees and require me to trust an exchange, two things I don't want to do.

If anybody has any other suggestions I'm open to them, but in a few days if nobody has any better ideas I'm likely going to do one of the above-listed things.

In the past what most sites have done was basically increase the fees.

They ran into these same issues as you at first and either increased their fees or just shut it down and saved themselves the headaches.

Kiritsugu
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February 06, 2018, 11:57:42 AM
 #2044

Hey guys,

So, I've got some bad news: my exchange is losing me money. I will not continue to operate it if it's going to lose me money. I invested time and my own money into this mostly as a service to the site, but due to its simplicity, I lose money if the price swings one way or the other (BTC/LTC wise).

In my mind, there are a few things I can do:
  • Increase the flat fee rate from 1% to something higher, possibly 2%, 2.5%, or 3%
  • Attempt to dynamically scale the fee based on price movements, which wouldn't be perfect and would still just raise fees.
  • Stop running the exchange altogether

I could technically make mirror trades on an exchange to replace any funds I sell to users immediately, but this would incur exchange fees and require me to trust an exchange, two things I don't want to do.

If anybody has any other suggestions I'm open to them, but in a few days if nobody has any better ideas I'm likely going to do one of the above-listed things.
To be honest, even if you raised fees to 2-3%, that's still pretty reasonable and I'd still use the bot.  I imagine most people would.  It's still cheaper than actually sending money to a real exchange, performing the conversion, and then withdrawing from said exchange.

I like the bot a lot, I'd be sad if you shut it down. Sad

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February 07, 2018, 02:58:44 AM
 #2045

my exchange is losing me money

[...]

If anybody has any other suggestions I'm open to them, but in a few days if nobody has any better ideas I'm likely going to do one of the above-listed things.

The obvious thing to do is to have your exchange actually be an exchange. Match buyers with sellers and take a fee on each trade. That way you can't lose.

Currently you're not just an exchange, but also the only market maker. People are able to game your bot by trading against it.

Just-Dice                 ██             
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dooglus
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February 07, 2018, 02:59:54 AM
 #2046

I was looking at the LTC investor chart. The x axis labels are weird:



Does the site think that the day between Saturday and Monday is Janday? Smiley

Just-Dice                 ██             
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RGBKey
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February 07, 2018, 03:48:59 AM
Last edit: February 07, 2018, 05:03:44 AM by RGBKey
 #2047

my exchange is losing me money

[...]

If anybody has any other suggestions I'm open to them, but in a few days if nobody has any better ideas I'm likely going to do one of the above-listed things.

The obvious thing to do is to have your exchange actually be an exchange. Match buyers with sellers and take a fee on each trade. That way you can't lose.

Currently you're not just an exchange, but also the only market maker. People are able to game your bot by trading against it.

Yeah, this was gonna be one of my solutions. I'm still thinking through all my options but I also had something like this in mind.

Edit: I've disabled the exchange until I decide what to do
MoneroWorld
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February 07, 2018, 10:40:33 PM
 #2048

Right now, this is simply the best dice site. Everything works perfectly and support is amazing.

The only think that is missing is the option to play with Monero, but hopefully it will be fixed in the future. Smiley
ethan_nx
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February 08, 2018, 07:21:18 AM
 #2049

I was looking at the LTC investor chart. The x axis labels are weird:



Does the site think that the day between Saturday and Monday is Janday? Smiley

I'd say "it's not our code that does this", but it looks funny indeed. I'd probably never spotted this one, thanks! :-)

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February 09, 2018, 08:21:12 PM
 #2050

My exchange has been shut down, likely permanently. I decided it wasn't worth the extra effort it would take to make a "real exchange". Sorry to the people that were using it.

If you guys are looking for an anonymous exchange, I've been using https://flyp.me/ because I wanted a private exchange and didn't want to use Shapeshift. I've used it twice so far and haven't had any issues yet.

(I don't hold any of their profit sharing tokens and I don't stand to gain anything from anybody using the exchange, but I've had good experiences with them so wanted to share in case anybody was looking for something similar).
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February 10, 2018, 08:34:40 AM
 #2051

My exchange has been shut down, likely permanently. I decided it wasn't worth the extra effort it would take to make a "real exchange". Sorry to the people that were using it.

If you guys are looking for an anonymous exchange, I've been using https://flyp.me/ because I wanted a private exchange and didn't want to use Shapeshift. I've used it twice so far and haven't had any issues yet.

(I don't hold any of their profit sharing tokens and I don't stand to gain anything from anybody using the exchange, but I've had good experiences with them so wanted to share in case anybody was looking for something similar).

Your bot is showing eth rain stats when users are using !rain command. Maybe you can disable it till eth is implemented to the site.
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February 10, 2018, 08:36:19 AM
 #2052

I love the name  Grin , you only live once so all-in, this should be the motto
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February 10, 2018, 09:08:55 AM
 #2053

My exchange has been shut down, likely permanently. I decided it wasn't worth the extra effort it would take to make a "real exchange". Sorry to the people that were using it.

If you guys are looking for an anonymous exchange, I've been using https://flyp.me/ because I wanted a private exchange and didn't want to use Shapeshift. I've used it twice so far and haven't had any issues yet.

(I don't hold any of their profit sharing tokens and I don't stand to gain anything from anybody using the exchange, but I've had good experiences with them so wanted to share in case anybody was looking for something similar).

What don't you like about Shapeshift? That's what I've been using, but seems like their cut is steep. Is the cut less on flyp?

My original account "robhimself" was hijacked!
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February 10, 2018, 06:40:30 PM
 #2054

Looks like YoloDice reached its all time high online users



Congrats ethan
Looks like adding LTC to the site was a good decision. Smiley
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February 10, 2018, 10:03:26 PM
 #2055

Looks like YoloDice reached its all time high online users



Congrats ethan
Looks like adding LTC to the site was a good decision. Smiley
When did that happen? I have always thought it was near the 250-275 mark for the most users on the site.
Usually right after a competition completes due to the winners always in a great mood and does some raining of bits or litoshis around the room to random people.

Expect alot more users and expand the flood gates to allow more traffic thru and not inhibit gameplay due to this increase in traffic would be a better thing to work on for the next little while I would think. Embarrassed
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February 11, 2018, 10:00:17 PM
 #2056

Question for Ethan.

I want to know, why LTC betting speed is not equivalent to BTC speed, if we compare both coin to coin value?!

like sample:

if i bet on BTC 10satoshi i was getting ~5bets per second, if im bet 100+ satoshi i was get ~10 bets per second.

now with LTC, if i bet even 10 000 litoshi, i get only 4 bets per second...

YOLOdice.comFast 1% Edge Dice GameJackpotsRakebackPlay / Earn / Invest
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February 12, 2018, 11:45:32 AM
Merited by RGBKey (1)
 #2057

I like the site, but the way the rain system works really encourages spam, and the ability to check coin prices relative to one another or to currencies makes spamming something that seems reasonable pretty easy.

My original account "robhimself" was hijacked!
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February 13, 2018, 09:50:03 AM
 #2058

i think the rain system works fine, there are always spammers but they get muted normally and there is RGBs Bot with the warn system for short messages, draining rain down would just hurt honest users.

@ethan will ltc investment enabled this month? just curious.

so long - Racoon

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February 13, 2018, 11:45:22 AM
 #2059

i think the rain system works fine, there are always spammers but they get muted normally and there is RGBs Bot with the warn system for short messages, draining rain down would just hurt honest users.

@ethan will ltc investment enabled this month? just curious.

so long - Racoon



I prefer the systems where it randomly chooses from the past 15 minutes or half hour of posters, not just the most recent. It's not just short messages that are spammy, people constantly check the latest block size, currency pairs every 5 minutes, etc. The immediacy of needing to be one of the last 10 or so posters at all times provides a perverse incentive.

My original account "robhimself" was hijacked!
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February 13, 2018, 02:28:03 PM
 #2060

Sites like just-dice have the most recent too, it was never random, you could add in syntax if you tip the last 20 or last 40, the reason just-dice has not a problem with it, is that people moved away from to different sites (like yolo)  (it had the same spam problem like yolo in the past)

maybe ethan could add a 5 min timer on every user for a command, like you have to wait 5 min before you can do the next !btc usd command again, after you did it.

...also dont forget..rain which is given away is gambled which keeps the site active and if people lose their stash (i never hope for that) it goes into investors pocket...

So long - Racoon
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