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Author Topic: 🔶 YOLOdice.com 🔶 suspended on 16st Mar 2021  (Read 142972 times)
examplens
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February 23, 2021, 11:23:58 PM
 #4361


Here's my thinking: YOLOdice is not for sale. Definitely not to a random unknown buyer. I can image a few scenarios in which I would consider selling YOLOdice, but I don't think it would be an easy process. As you can imagine, it's not just about the money.

Since people are withdrawing I can hear a lot of complains about withdrawal fees. It's been something I've been fighting with since day 1. BitcoinCore fee estimations suck in a big way - for some reason the developers have chosen the worst possible way to do it, based on historical data and not the current state of mempool. I've been trying to use external services (btc.com) for fees, but this ended pretty badly because their API was very unstable. Since I am not fanatic about improving BTC I did not want to dig into the actual BC code and fix it, so we have to live with that for a few more days :-/

Edit: replaced "fanatic" with "not fanatic". sorry about the confusion.

Here i wonder, is "one" of the reasons you want to suspend the site, the constant complaints / problems, with the high bitcoincoin core fees ?

if yes, why not abandon btc and continue the site with altcoins (ltc, doge, etc). from what i heard just-dice went this way and was successful with it by now (even though clam drops into the cellar, but thats more a coin problem, since it has no say in the cryptosphere).

Also if you pause contests for a while and some other changes to minimize the work for you and scott on the site, you could keep running it, without having the burden to worry on it constantly. Could that be worth a thought ?

greetings, whore-ray

I keep some investment in Yolodice, and I must say that I understand why they closing down his business.
After six months, I am at a loss was about -30% in LTC and have some minor profit of around 3% in my Doge investment. If they also operated according to that model and shared profit/loss with investors, then it is expected to close the business there.
Also, I lose there some of my coins due to security reason, I never got a reasonably detailed explanation of what happened and who withdrew my coins from his site.





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[/t
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February 23, 2021, 11:39:00 PM
 #4362


I keep some investment in Yolodice, and I must say that I understand why they closing down his business.
After six months, I am at a loss was about -30% in LTC and have some minor profit of around 3% in my Doge investment. If they also operated according to that model and shared profit/loss with investors, then it is expected to close the business there.
Also, I lose there some of my coins due to security reason, I never got a reasonably detailed explanation of what happened and who withdrew my coins from his site.

i do not understand the immense loss of ltc either, even in the end a site makes profit for investors cause variance, compared to other sites i know the investment on them always went back up into positive, after a not so long time but i guess that is pure math that it ended up badly that way on yolo.

its weird you never got an explanation for your losses cause of security reasons. Did you wrote support and if yes, what was the answer ?

best wishes,

whore-ray

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February 23, 2021, 11:53:04 PM
 #4363

Sad to see YOLOdice close down  Undecided
I never really gambled, but it was a good experience being a (BTC) investor since 2017. I'm excited to see what you end up coming up with when you return!

Here i wonder, is "one" of the reasons you want to suspend the site, the constant complaints / problems, with the high bitcoincoin core fees ?

if yes, why not abandon btc and continue the site with altcoins (ltc, doge, etc). from what i heard just-dice went this way and was successful with it by now (even though clam drops into the cellar, but thats more a coin problem, since it has no say in the cryptosphere).

greetings, whore-ray

I'm guessing the biggest reason is that Ethan wants to shut down is that he doesn't want to deal with the stress of making sure the balances of all investors (BTC bankroll alone was > 100 BTC, or roughly 5 million USD at current rates) are safe. Continuing with altcoins likely wouldn't solve that issue, especially since ETH & LTC are fairly major coins too.

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February 24, 2021, 12:24:37 AM
 #4364



I'm guessing the biggest reason is that Ethan wants to shut down is that he doesn't want to deal with the stress of making sure the balances of all investors (BTC bankroll alone was > 100 BTC, or roughly 5 million USD at current rates) are safe. Continuing with altcoins likely wouldn't solve that issue, especially since ETH & LTC are fairly major coins too.


I agree with you on that, as i said, or tried to, the same reason just-dice switched from btc to clam, as i was told dooglus didnt wanted to take the responsiblity anymore so he switched to a coin with "much" less value, cause people did not want to see the site dying.

If not with ltc or eth, i think there are still altcoins (doge, polkadot, etc) which could be used instead, from what i understood most people love the community of the site and the gui and all other things around that, to abandon it completely would be disappointing, even it is all ethans decision.

cheers, whore-ray




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February 24, 2021, 07:19:02 AM
 #4365

--snip--
Bitcoin and other coins are much more than they used to be a few years ago. Crypto is goin mainstream in a big way. Cryptocurrencies are not for geeks any more, they became the cutting edge of the future financial world.
The future financial world will still need the geeks but it is going to be much more permissioned. Boundless, open exchange that happens on crypto-gambling sites doesn't really sit well with financial institutions.
Congratulations for a great run and an incident-free, graceful closure. Hope we can hear of the experience you guys had at some outlet.

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February 24, 2021, 08:36:28 AM
 #4366

Sad to see YOLOdice close down  Undecided
I never really gambled, but it was a good experience being a (BTC) investor since 2017. I'm excited to see what you end up coming up with when you return!

Here i wonder, is "one" of the reasons you want to suspend the site, the constant complaints / problems, with the high bitcoincoin core fees ?

if yes, why not abandon btc and continue the site with altcoins (ltc, doge, etc). from what i heard just-dice went this way and was successful with it by now (even though clam drops into the cellar, but thats more a coin problem, since it has no say in the cryptosphere).

greetings, whore-ray

I'm guessing the biggest reason is that Ethan wants to shut down is that he doesn't want to deal with the stress of making sure the balances of all investors (BTC bankroll alone was > 100 BTC, or roughly 5 million USD at current rates) are safe. Continuing with altcoins likely wouldn't solve that issue, especially since ETH & LTC are fairly major coins too.
You reminded me the sad story of Safe(!!!)Dice. The owner went missing and disappeared from the scenes and even left the game running: there was an automated wallet re-balance which made deposit and withdrawals still available under some certain thresholds. People kept playing and losing but some were able to get something out. (cold wallet went rogue...)
I once remember some safedicers called a YD a scam. History proved who were the real scammers.
Good luck Ethan and see you around!

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February 24, 2021, 09:14:19 AM
 #4367

I keep some investment in Yolodice, and I must say that I understand why they closing down his business.
After six months, I am at a loss was about -30% in LTC and have some minor profit of around 3% in my Doge investment. If they also operated according to that model and shared profit/loss with investors, then it is expected to close the business there.
Also, I lose there some of my coins due to security reason, I never got a reasonably detailed explanation of what happened and who withdrew my coins from his site.

I don't think that you can blame the losses on Yolodice.

Unless there is substantiated evidence that Yolodice is tampering with the provably fair mechanism, which there is none, then the losses can simply be attributed to variance.

But the security problem is very interesting - how much did you lose, when was this, and what was the resolution that Yolodice gave you at the end? Did you get to speak directly to the admins about the issue or just a mod/support?

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February 24, 2021, 09:45:34 AM
 #4368

I don't think that you can blame the losses on Yolodice.

Unless there is substantiated evidence that Yolodice is tampering with the provably fair mechanism, which there is none, then the losses can simply be attributed to variance.

But the security problem is very interesting - how much did you lose, when was this, and what was the resolution that Yolodice gave you at the end? Did you get to speak directly to the admins about the issue or just a mod/support?

if you check the graph, 18-21 August there are some big wins which get more than 50% of LTC bankroll. As you can see, he has not recovered to this day.
I'm not blaming anyone here, I'm just saying that something didn't work well here. Which casino can operate with a 50% loss?



About the security issue, yes I speak with admins and tell me that his log is everything normal, probably is someone from my computer send my BTC. Even if no log details from my IP or anyone at the time of withdrawing funds from my account. So, someone closes my investment, exchange altcoins to BTC, withdraw Bitcoin without any clue in the log.
extremely suspicious when I know that is two weeks old account, where I am logged in only using Brave browser which is fresh installed, mainly to use it for login in Yolodice and one more similar service. As I haven't much experience with Brave, I thought that was where the problem arose. Even if all my other funds in many other services still untouched, nor were there any known attempts.





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February 24, 2021, 10:01:40 AM
 #4369

And the day has come the Closure of YOLOdice in this forum has decided

Thanks you so much for these 4 years, it's been a great campaign. YOLOdice would not be the same without YOU! Special thanks to Moglie for running the campaign. And perhaps see you next time!!!

Cheers,
Ethan

expecting next week that this thread will be close also , Is there any Farewell event from yolodice before the closure comes next month ?

at least for the memory and gratitude for the Bitcointalk community  Grin.

https://bitcointalk.org/index.php?topic=5254959.0

and this investment test as well will be closed soon , Great Journey YOLO supporter see you next time .

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February 24, 2021, 10:20:16 AM
 #4370

I'm not blaming anyone here, I'm just saying that something didn't work well here. Which casino can operate with a 50% loss?
<cut>

I was wondering the same thing at the time. According to all statistics, one player won massive amounts of LTC in just a few bets. There was a question whether there was an abuse of some kind of system bug or just extreme luck.
Although Ethan put some security measures after that, we never got a clear answer what really happened.

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February 24, 2021, 11:18:46 AM
 #4371

I'm not blaming anyone here, I'm just saying that something didn't work well here. Which casino can operate with a 50% loss?
<cut>

I was wondering the same thing at the time. According to all statistics, one player won massive amounts of LTC in just a few bets. There was a question whether there was an abuse of some kind of system bug or just extreme luck.
Although Ethan put some security measures after that, we never got a clear answer what really happened.


Although they do a quite good exit but still they really need to answer those questions came from their investors so that they can clarify on what happen on that losses since it's really confusing to see those scenarios happening, but I'm quite confident that those are legitimate incident but let see the explanation made by ethan.

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February 24, 2021, 12:26:25 PM
 #4372

I don't think that you can blame the losses on Yolodice.

Unless there is substantiated evidence that Yolodice is tampering with the provably fair mechanism, which there is none, then the losses can simply be attributed to variance.

But the security problem is very interesting - how much did you lose, when was this, and what was the resolution that Yolodice gave you at the end? Did you get to speak directly to the admins about the issue or just a mod/support?

if you check the graph, 18-21 August there are some big wins which get more than 50% of LTC bankroll. As you can see, he has not recovered to this day.
I'm not blaming anyone here, I'm just saying that something didn't work well here. Which casino can operate with a 50% loss?


A big percentage if not all of those losses were suffered by investors, not necessarily by the casino.
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February 24, 2021, 12:41:22 PM
 #4373

I believe only way that yolodice could ever be sold would be someone who is already huge in the crypto gambling world as it is could maybe take it with a lot of money, someone who has already successfully managed a casino before, and has the means to buy this one as well, creating both a good amount of purchase offer for ethan to consider it but also credible enough that everybody knows they will not be stealing people's money or something like that.

Only very few people I can think of like that who is not actively running a casino right now and that is either RHavar or Stunna, both managed to create world's biggest crypto casinos respectively for their time and both got out at the right time, both are very trusted, and both have the money for it. Yet I am %99 sure that they are not interested since just like Ethan they just wanted to get out.

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ethan_nx
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February 24, 2021, 01:35:37 PM
 #4374

I can see that LTC loses raises a lot of controversy and I fully understand it. The first time (in Dec 2019) someone won most of the bankroll was when we (me and Scott) owned the bankroll, so someone won ~4k LTC in just a few days. This plus ~700 LTC in rakeback and referral bonuses. These were taken directly from our pockets. We then changed the max bet profit and changed the rules to make such wins less likely. We've also opened LTC to other investors, hoping for the stable (although probably less exciting) growth. LTC profits came back to 2019 levels, but to our despair a similar thing happened in Aug 2020.

Believe me, we became paranoid after the first win, but the second time this happened made us ultra-paranoid. We have been checking server logs, bet history, API requests, algorithms, number generators... everything we could. Although we found nothing, this was still disturbing for us, not to mention investors (you).

We've never made our LTC back, and if you had investments open in Aug 2020 you probably suffered a huge loss too. I can only say we did all we could to make sure it was a fair win and I believe it was. The probability was low, but it happened.

Other bankrolls did not suffer anything similar (fortunately), but are under-performing too. All BTC, ETH (which is not a public bankroll), LTC and DOGE's expected profit is higher than real profit, which is disturbing for us too. It looks like some players with really high budgets were playing YOLOdice and their budget allowed them to keep winning. When you have large budget you can will small for quite a long time, until you lose in a big way. But this (unfortunately for us, investors) did not happen.

I also realize that this discrepancy between the actual and expected profit could undermine our reputation and I don't feel well about it. That's also one of the reasons we are suspending YOLOdice, although I would be much, much happier if we could close when the profits were at ATH.

Besides, I still believe we could come with a model where both players and investors could be protected by a Provably Fair algorithm and not rely on site operators.

Cheers,
Ethan

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February 24, 2021, 01:41:09 PM
 #4375

I have changed the ways the BTC withdrawal fees and now we take the fee/kb from https://btc.com/stats/unconfirmed-tx .

I was about to say they got much lower now, but the values got high again. Right now the instant withdrawal fee is high again at 0.001680 BTC and batch is at 0.00084000 BTC as the mempool becomes full again :-(

Cheers,
Ethan

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February 24, 2021, 05:49:22 PM
 #4376

I have changed the ways the BTC withdrawal fees and now we take the fee/kb from https://btc.com/stats/unconfirmed-tx .

I was about to say they got much lower now, but the values got high again. Right now the instant withdrawal fee is high again at 0.001680 BTC and batch is at 0.00084000 BTC as the mempool becomes full again :-(

Cheers,
Ethan
Still the amount look too high because the highest possible fee required for one input and one output transaction is going to be less weigh than 1kvbyte so why better to process them in bytes to reduce the fees a lot more further.

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February 24, 2021, 07:34:23 PM
 #4377

I have changed the ways the BTC withdrawal fees and now we take the fee/kb from https://btc.com/stats/unconfirmed-tx .

I was about to say they got much lower now, but the values got high again. Right now the instant withdrawal fee is high again at 0.001680 BTC and batch is at 0.00084000 BTC as the mempool becomes full again :-(

Cheers,
Ethan

You could set the fee as fixed 100sat/b. This would maybe take 6 hours to confirm, which whouldn't be a problem. With fees of around $30 you're overpaying, even with the current status of the mempool.
That said, wish I had that LTC high roller in my referrals Roll Eyes
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February 24, 2021, 10:43:17 PM
Last edit: February 24, 2021, 10:53:48 PM by BayAreaCoins
Merited by DarkStar_ (10)
 #4378

I have changed the ways the BTC withdrawal fees and now we take the fee/kb from https://btc.com/stats/unconfirmed-tx .

I was about to say they got much lower now, but the values got high again. Right now the instant withdrawal fee is high again at 0.001680 BTC and batch is at 0.00084000 BTC as the mempool becomes full again :-(

Cheers,
Ethan

All of those estimators are T-R-A-S-H.  For the exact reasons as you outlined in a previous post (using historical data rather than real time).

I've had Xploited (CLAM creator) create an API call you can use to estimate your stuff.  It's the same estimates that we use for our exchange and our swap tool.

Basically,  This estimates the cost to go .75 MB deep in the chain at the time of the request.  Each block usually takes 1mb off the chain, so it's isn't very aggressive and transactions can take some time to confirm.  Being not aggressive kind of helps not contribute to unnecessary blockchain bloat.

I think you'll be shocked at the price difference and the speed these estimates confirm!

https://freebitcoins.com/xchange/api/v1/btcfee ({"satsPerVbyte":"102"} at the time of this post)

Hopefully this helps y'all and your users!  If you don't know what VBytes are... message me and I'll connect you with Xploited. <3

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February 24, 2021, 10:54:55 PM
Merited by BayAreaCoins (1)
 #4379

Basically,  This estimates the cost to go .75 MB deep in the chain at the time of the request.  Each block usually takes 1mb off the chain, so it's isn't very aggressive and transactions can take some time to confirm.  Being not aggressive kind of helps not contribute to unnecessary blockchain bloat.

I think you'll be shocked at the price difference and the speed these estimates confirm!

https://freebitcoins.com/xchange/api/v1/btcfee ({"satsPerVbyte":"102"} at the time of this post)

I really like the idea behind it; it's pretty much what I've been doing manually looking at Johoe's mempool stats. However, for some reason, it seems to be returning 10 satsPerVByte right now, despite there being 45+ MB of transactions greater than paying greater than 10 sat/byte.

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February 24, 2021, 11:16:35 PM
Last edit: February 24, 2021, 11:27:15 PM by BayAreaCoins
 #4380

Basically,  This estimates the cost to go .75 MB deep in the chain at the time of the request.  Each block usually takes 1mb off the chain, so it's isn't very aggressive and transactions can take some time to confirm.  Being not aggressive kind of helps not contribute to unnecessary blockchain bloat.

I think you'll be shocked at the price difference and the speed these estimates confirm!

https://freebitcoins.com/xchange/api/v1/btcfee ({"satsPerVbyte":"102"} at the time of this post)

I really like the idea behind it; it's pretty much what I've been doing manually looking at Johoe's mempool stats. However, for some reason, it seems to be returning 10 satsPerVByte right now, despite there being 45+ MB of transactions greater than paying greater than 10 sat/byte.

That's exactly what I did as well.  The same website too! Tongue

Good eye, something broke, Xploited is fixing the API call right now... because your right, 10 looks hella low atm.

I forgot to mention, we have it set to a minimum of 10, even if the network is lower.  I've just seen the network blowup in the low numbers too fast... 10 seems to be a decent number.

I'll post when she's fixed... it should just be a minute.

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