adaseb
Legendary
Offline
Activity: 3878
Merit: 1733
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February 06, 2018, 08:22:41 AM |
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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.
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Kiritsugu
Legendary
Offline
Activity: 1570
Merit: 1041
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February 06, 2018, 11:57:42 AM |
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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.
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dooglus
Legendary
Offline
Activity: 2940
Merit: 1333
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February 07, 2018, 02:58:44 AM |
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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.
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Just-Dice | ██ ██████████ ██████████████████ ██████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████ ██████████████ ██████ | Play or Invest | ██ ██████████ ██████████████████ ██████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████ ██████████████ ██████ | 1% House Edge |
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dooglus
Legendary
Offline
Activity: 2940
Merit: 1333
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February 07, 2018, 02:59:54 AM |
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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?
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Just-Dice | ██ ██████████ ██████████████████ ██████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████ ██████████████ ██████ | Play or Invest | ██ ██████████ ██████████████████ ██████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████████████ ██████████████████████ ██████████████ ██████ | 1% House Edge |
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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 |
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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
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MoneroWorld
Newbie
Offline
Activity: 8
Merit: 0
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February 07, 2018, 10:40:33 PM |
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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.
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ethan_nx (OP)
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February 08, 2018, 07:21:18 AM |
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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? 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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RGBKey
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February 09, 2018, 08:21:12 PM |
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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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@ltra
Jr. Member
Offline
Activity: 46
Merit: 1
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February 10, 2018, 08:34:40 AM |
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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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tigrhes
Newbie
Offline
Activity: 100
Merit: 0
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February 10, 2018, 08:36:19 AM |
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I love the name , you only live once so all-in, this should be the motto
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robhimself1
Jr. Member
Offline
Activity: 56
Merit: 1
Missing the boat again
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February 10, 2018, 09:08:55 AM |
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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?
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My original account "robhimself" was hijacked!
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@ltra
Jr. Member
Offline
Activity: 46
Merit: 1
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February 10, 2018, 06:40:30 PM |
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Looks like YoloDice reached its all time high online users Congrats ethan Looks like adding LTC to the site was a good decision.
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Lionidas
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February 10, 2018, 10:03:26 PM |
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Looks like YoloDice reached its all time high online users Congrats ethan Looks like adding LTC to the site was a good decision. 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.
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houseworx
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February 11, 2018, 10:00:17 PM |
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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...
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robhimself1
Jr. Member
Offline
Activity: 56
Merit: 1
Missing the boat again
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February 12, 2018, 11:45:32 AM |
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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.
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My original account "robhimself" was hijacked!
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Rocket Racoon
Newbie
Offline
Activity: 7
Merit: 0
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February 13, 2018, 09:50:03 AM |
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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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robhimself1
Jr. Member
Offline
Activity: 56
Merit: 1
Missing the boat again
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February 13, 2018, 11:45:22 AM |
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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.
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My original account "robhimself" was hijacked!
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Rocket Racoon
Newbie
Offline
Activity: 7
Merit: 0
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February 13, 2018, 02:28:03 PM |
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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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Reid
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February 14, 2018, 04:16:04 PM |
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Hi guys,
I have good connection but it seemed like the site gets laggy when I do consecutive bets. Somehow it loads like for 2 seconds before it goes back to normal then again in 5-10 bets. It this normal now or updates are being done?
Thanks in advance for the answers.
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veleten
Legendary
Offline
Activity: 2016
Merit: 1106
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February 14, 2018, 04:29:31 PM |
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Hi guys,
I have good connection but it seemed like the site gets laggy when I do consecutive bets. Somehow it loads like for 2 seconds before it goes back to normal then again in 5-10 bets. It this normal now or updates are being done?
Thanks in advance for the answers.
maybe your bet size is different? yolodice has speed limitations depending on the size of your bet and if you martingale,consecutive (and larger bets) would be processed faster when you win a martingale bet and it is set to return to base on win,your next bet will get delayed,usually here is the table: It's there to prevent flooding the server with too many bets that do little contribution to the game. The internal delays are: Bet amount delay 0 BTC 1 second 0 … 0.00000010 BTC 0.5 second 0.00000010 BTC … 0.00000100 BTC 0.1 second all larger bets no delay
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