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Author Topic: 🔶 YOLOdice.com 🔶 suspended on 16st Mar 2021  (Read 142942 times)
ethan_nx
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March 13, 2021, 02:36:23 PM
 #4501

@ethan_nx, talking about being an investor in gambling site, whom actually owned "4 investment" ETH on Yolodice before since it doesn't public? We like to know because Yolodice alraedy closed right now

All the ETH bankroll was owned by me and Scott. The number of investments was just a way how we have split the coins, it was not 4 all the time.

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March 14, 2021, 08:27:02 AM
 #4502

The Reason why Ethan & Scott decided to close Yolodice isn't about they have a dice game only, but rather the time they spent on it. They already too busy to keep running yolodice (they don't have time to spend on other things), so they decided to close yolodice. There are already too many sites offer sportbook, so i don't think they need to consider it when they deciced to re-launch Yolodice.
I may not agree to what you have said mate, Ethan and Scott have more ways if maintaining the site by hiring good and intelligent workers across every problems, a competent and due diligent developer will be handling yolodice while ethan and Scott go to bed to sleep while the site is running smoothly, to me the reason they stop operating is because, so many competitive cryptocurrency gambling platforms are emerging rapidly in the space with new gambling features far more better than yolo interface, there affecting customers from patronising them, on that note, yolo have to shutdown and maybe will sit back and rethink new features and strategies to come out with.

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March 14, 2021, 09:58:36 AM
 #4503

All the ETH bankroll was owned by me and Scott. The number of investments was just a way how we have split the coins, it was not 4 all the time.
Thank you ethan_nx, now i'm not curious again about whose the owner of those investment.

I may not agree to what you have said mate, Ethan and Scott have more ways if maintaining the site by hiring good and intelligent workers across every problems, a competent and due diligent developer will be handling yolodice while ethan and Scott go to bed to sleep while the site is running smoothly, to me the reason they stop operating is because, so many competitive cryptocurrency gambling platforms are emerging rapidly in the space with new gambling features far more better than yolo interface, there affecting customers from patronising them, on that note, yolo have to shutdown and maybe will sit back and rethink new features and strategies to come out with.
No worries, but i said that because i was reffering to this



Let's also be honest about one more thing — running a site like YOLOdice is no easy task. Server security, software development, managing equivalents of millions of dollars belonging to investors and players that trust you — we've been doing our best and we've put as much effort in running this site as we could. But this responsibility has started affecting our lives in the way we had not anticipated. It's been like riding a rollercoaster sometimes. We will be more than happy to take a break, take a deep breath and maybe then come back with something new. In other words, we really need some time off. Really.

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leea-1334
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March 14, 2021, 12:07:54 PM
 #4504

I know my opinion will not be very popular (or at least controversial), but honestly after 4 years of being on "the other side" of the gambling site, I will probably never again deposit any coins to a 3rd party site a for long-term investment. We worked hard to take proper care of the deposited coins and (thankfully!!!) nothing bad happened, but there are always some risks involved. If a site gets hacked (which does happen), what's the site policy? Will the owners cover the loss with their own funds? There is always a non-zero probability that things will go wrong and investors lose their coins.

If you compare the expected ROI due to coins/USD changes, possibly boosted by staking using a trustless protocol like Cardano or Polkadot (extra 10% a year) to the expected revenue from a gambling site, and then take into account a non-zero probability of actually losing your coins, I don't see much point in trusting coins to another site. Unless you do it for the pure fun, or you have other reasons to do so. Even when diversifying your portfolio it looks much safer today to simply invest in a bunch of coins, stake them and always have your private keys to spend them.

I don't want to undermine online gambling. I think it's really fun, both being an investor or player. There is a bit of adrenaline in both and it's hard to find a replacement for that. Watching Coinmarketcap or Kraken charts is not a substitute for a cool community chat, watching someone win or lose in a big way, or even being a part of the project that just give you this comfy feeling that you belong there.

It's all very important and that's what I really liked in YOLOdice. The community, the the fun, the chat, the adrenaline... But even though, I think investing in gambling site might not be the greatest idea in terms of expected ROI.

Cheers,
Ethan

I have been an investor in 3 sites, 2 now closed down so only left at 1, and I have always been open about it,,, you can and maybe very possibly will lose it if the site gets hacked but I have been very lucky/fortunate or whatever you want to call it that I chose people who ran the business well, including Yolodice of course, that the unwanted never happened.

I think gambling investments can be very profitable. I lost some and won some, but over since 2017 I actually more than 4x my investment in DOGE and 2x in LTC, so with the markets going ATH it was very very good returns. But as ethan says,,, there must be a safer way, perhaps to use the DEFI stuff as mentioned earlier by someone else and use non-custody contributions to bankroll but keeping the dice elements and centralized structure of chat, moderating, contests etc.

The recipe was popular, and many defi gaming shows that no-trust systems can work. But they cannot get as much loyalty as centralized sites.

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March 14, 2021, 05:40:31 PM
 #4505

I may not agree to what you have said mate, Ethan and Scott have more ways if maintaining the site by hiring good and intelligent workers across every problems, a competent and due diligent developer will be handling yolodice while ethan and Scott go to bed to sleep while the site is running smoothly, to me the reason they stop operating is because, so many competitive cryptocurrency gambling platforms are emerging rapidly in the space with new gambling features far more better than yolo interface, there affecting customers from patronising them, on that note, yolo have to shutdown and maybe will sit back and rethink new features and strategies to come out with.
That is not what this is about, making money or not I can't say how much Ethan and Scott has, maybe they have a lot maybe they don't, but finding even 100+ staff is not the deal here. I think they have mentioned previously that we are talking about a huge number of new people coming in but also the bitcoin price is going up as well, which means they are making more money than they used to but still stopped.

The reason is the fact that the money they have right now became too valuable, and they just didn't want to get that type of problem in their hands, after all we are talking about god knows how many millions of dollars that they are holding on behalf of gamblers, it is not theirs neither, it is customer's money and they are taking the full responsibility for it. I think they just decided not to handle any more of that, who needs that extra pressure in life.


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ethan_nx
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March 16, 2021, 12:40:45 PM
 #4506

Today I have suspended YOLOdice. And once again I'd like to thank YOU - the players, investors, supporters, moderators... just everyone who made this project possible. It was fun running the site, really, but as I mentioned multiple times, we really need a break and a fresh perspective to maybe come back with something new, better suited to the ever-evolving landscape of the crypto currencies world.

Thanks and cheers!
Ethan

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