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Author Topic: BITDICE - 🎲🎲🎲 New Version Coming Soon! 🎰🎰🎰  (Read 91896 times)
dogedice.me
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January 25, 2018, 12:01:06 PM
 #2081

@koanado Are you kidding? Invading this topic (and plenty others) with your spam crap for competitors site?
You are really example member to get demerit and red trust.

BTT  I've heard some gossip the dividends will be paid 25th-Jan ( today) .. is that officially confirmed ?


We need one more day to finish all data. Unfortunately, it took a bit longer than we've expected. Tomorrow we will publish the financial report and will start sending the dividends.

Regards,
Alex

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January 25, 2018, 04:27:57 PM
 #2082

We need one more day to finish all data. Unfortunately, it took a bit longer than we've expected. Tomorrow we will publish the financial report and will start sending the dividends.

Regards,
Alex

Awesome news, something to look forward to in this really bearish crypto market! I know a lot of people are going to be excited. Regardless of the financial performance (even though I know we're all expecting good things in the report), we've all got to keep in mind that the initial start is always going to be time and resource consuming, but that's how it is with all things starting out.

I'll be looking out for the future planning in detail, if that's going to be part of the financial report?

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lite
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January 26, 2018, 04:33:50 AM
 #2083

@koanado Are you kidding? Invading this topic (and plenty others) with your spam crap for competitors site?
You are really example member to get demerit and red trust.

BTT  I've heard some gossip the dividends will be paid 25th-Jan ( today) .. is that officially confirmed ?


We need one more day to finish all data. Unfortunately, it took a bit longer than we've expected. Tomorrow we will publish the financial report and will start sending the dividends.

Regards,
Alex
That's a great news, been waiting for an update on dividends, thanks. i'm really excited about first dividend.

We need one more day to finish all data. Unfortunately, it took a bit longer than we've expected. Tomorrow we will publish the financial report and will start sending the dividends.

Regards,
Alex

....

I'll be looking out for the future planning in detail, if that's going to be part of the financial report?
I'd also be interested in knowing the future plans and or what's are the things currently being worked on. perhaps a new and updated roadmap.
piloder
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January 26, 2018, 07:42:43 AM
 #2084

We need one more day to finish all data. Unfortunately, it took a bit longer than we've expected. Tomorrow we will publish the financial report and will start sending the dividends.
I have seen some guy over bitdice telegram channel posting about financial report for bitdice few days ago and people are claiming we will get 0.007$ per CSNO as dividends, is this true? Or you guys haven't posted any financial report yet?

I am also one of the happy token holder from ICO days.

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lite
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January 26, 2018, 08:16:16 AM
 #2085

We need one more day to finish all data. Unfortunately, it took a bit longer than we've expected. Tomorrow we will publish the financial report and will start sending the dividends.
I have seen some guy over bitdice telegram channel posting about financial report for bitdice few days ago and people are claiming we will get 0.007$ per CSNO as dividends, is this true? Or you guys haven't posted any financial report yet?

I am also one of the happy token holder from ICO days.
I haven't checked that financial report, but whoever posted it might be correct on the dividend per token distribution. alex will publish financial report today and hopefully we'll all get dividends in few days.
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January 26, 2018, 11:44:09 AM
 #2086

BitDice Casino Quarterly Report: Q4 2017

Introduction
BitDice Casino’s quarterly report is a new communication tool aimed to provide CSNO token holders with up-to-date information about the company’s major developments and fiscal position.

Along with financial statements, the report will include forward-looking statements and analysis of the past events. It is deemed to increase the company’s transparency and provide token holders with a comforting sense of knowledge regarding the firm’s past, present and future business developments.

Milestones: Accomplishments and Omissions

Re-designing the website



We have started with re-designing the application’s front-end to give it an entirely new authentic look. It became clear to us that adding more games to the line of existing ones, as well as adding new payment methods will be hard to achieve without upgrading the face of the Casino. We have picked up the top web design studio on Behance and are having close communication with them and their illustrators while they are creating a masterpiece, unseen before in the world of online casinos. We want to get a revolutionary idea when it comes to design, and we will stand out from the rest of competitors. The front page development is still in progress, and the static look of it will not be able to express the depth of its animating details — but it looks awesome without a doubt. We would also like to get early feedback from our playing community regarding the new design, so we look forward to hearing from you on all our communication channels (telegram, website, etc.).

Started working on licensing

We have reviewed multiple options for getting the gambling license and decided in favor of Curacao. In our view, Curacao enables the fastest and smoothest way of obtaining the license in the first place to connect other gambling providers which we currently are unable to do. After being able to launch sports betting and the full range of new games with necessary licensing, we are planning to transfer the platform to Malta. We are aware of the trust issues of Curacao, but it remains the fastest and easiest way of establishing licensing presence for the games and for accepting fiat payment methods.

Fighting with faucet farming bots and bonus farmers

Many have noticed the drastic drop of online players from over a 100 down to 30s. Unfortunately, we were forced to disable the majority of employed bonuses as users exploited them. As a result, a big chunk of players, who were receiving the rewards and never contributed real deposits, has disappeared. As we constantly monitored the amount of wager with actual deposits vis-à-vis handout bonuses, we decided to re-assess the implementation of bonuses model, and the level system of players that became outdated due to significant growth of the cryptocurrencies value. We have created a new set of playing mechanics that we will be deploying and testing gradually starting this February.

Moving to Elixir

Our whole platform is written in Ruby language, and we use web socket connection for instant data transmission between player and platform. Although web socket allows for lightning-fast user experience, the Ruby language sets certain limits when it comes to scaling up operations. We have noticed, that the moment we reach 200–300 simultaneous players, the system starts to degrade significantly. To overcome the issue, almost a year ago we initiated first steps to move some parts of the platform engine to Elixir language. Today we’ve got about 60% of the code written in Elixir, and expect the rest to be moved by the end of the 3rd Quarter. The new solution will allow us to handle up to 10 000 simultaneous connections without hurting the platform’s performance. It will become crucial when the platform accommodates new payment methods, and the whole array of new games is introduced. For example, the top companies (William Hill, Bet365) already have their engines running in Erlang/Elixir: https://www.erlang-solutions.com/blog/programming-languages-for-online-betting-an-investigation-of-go-erlang-and-elixir.html


Financial Results Q4 2017

Profitability

In the fourth quarter (1 October — 31 December) of 2017, BitDice Casino earned a net profit of USD 2 161 193,69 or USD 0,02161 per CSNO token.

Net profit from operating activity amounted to USD 1 048 308.

Net realized profit from disposal of some cryptocurrency assets amounted to USD 1 112 885,81.

Distributable profit of 70% amounted to USD 1 512 835,58 or USD 0,01513 per CSNO token (Annualized Dividend Yield of 43,22%)

Product segment overview

A total of USD 206 822 510 was wagered throughout the fourth quarter, with the dice segment being traditionally the strongest, followed by Blackjack and slots.



Q4 2017 wager grew for all cryptocurrencies except BTC, which saw downtick due to abnormally high playing activity in the previous quarters. LiteCoin surprised to the upside due to gaining more traction among cryptocurrencies globally.



Average bet size also continued to growth in USD terms thanks to the appreciation of cryptocurrencies and higher risk appetite among players.



House total revenue reached USD 1 193 245, where USD 769 132 was attributed to Dice segment, USD 384 295 to Blackjack, and USD 39 818 to Slots.

In cryptocurrency terms the revenues for the fourth quarter stood as follow:



Margin wise, the picture was somewhat volatile and deviated from our house edge benchmarks:



On average, Dice segment margin amounted to 0,41%, Blackjack 2,18%, and Slots 2,47%

Running Costs

In the fourth quarter of 2017, BitDice Casino incurred total costs of USD 144 937.

The majority of the cost was attributed to players bonuses payouts, team salaries and website re-designing:



Balance Sheet

At the end of the ICO, dated September 15, 2017, BitDice Casino raised a total of USD 8 748 793,00 in the following cryptocurrency assets:



To minimize risk exposure to cryptocurrency assets and stick to the use of proceeds prescribed in the ICO material, BitDice Casino converted 60% of its crypto assets into USD at the end of the coin offering.

As a result, the fourth quarter began with the following assets sitting on BitDice Casino’s balance sheet, with total equivalent of USD 9 988 312,42:



By the end of the fourth quarter, BitDice Casino’s balance sheet appreciated by 90,83% and amounted to USD 19 060 684,10 in dollar equivalent, largely due to crypto currency gains across the board and a net operating income of USD 1 048 308.



At the end of the fourth quarter, BitDice Casino cut exposure to some of its crypto currency assets to lock in capital gain of USD 1 112 885,81:



At the end of Q4 2017, Client deposits with BitDice Casino amounted to USD 454 060,31 and were as follows:



Distributable Profit

According to BitDice Casino profit distribution policy, every token holder that possesses a balance with value greater than 1 CSNO is entitled to receive quarterly dividend, 70% of the net profit earned pro rata its holding.

As a result of its Q4 2017 economic activity, BitDice Casino earned net operating profit in amount of USD 1 048 308 and net capital gain of USD 1 112 885,81 resulted from disposal of some of it LTC, IOTA and DOGE coins.

Effectively, the total profit of USD 2 161 193,69 is subject to 70% profit sharing among CSNO token holders.

Every token holder is entitled to receive USD 0,01513 per token (1,513 cents per token)

BitDice has made a snapshot of token holders as of Dec 31, 2017 and will distribute the dividends according to the list of CNSO token holders on Dec 31, 2017.


Plans for the Q1 2018

Finalizing the integration of the new API

We prioritize the integration of the new API over the rest of the tasks scheduled for Q1 to be able to expeditiously link all the new games provided by our game integrator. We expect the process to take up to three weeks to complete. Testing will take up a few more days, but ultimately by the end of February, we should be able to launch many new games at once.

Continue to move to Elixir Engine

We will be moving further with converting the platform to Elixir language. In this March, testing of the code is expected to be performed in a closed environment. The process of this transformation is slow and requires a big deal of attention to details. The transformation is extremely important to us for creating the new innovative products, and there are already some exciting ideas on real-time interaction with our players using this new technology.

Acquiring the Curacao License

In the upcoming quarter, we will start the process of acquiring the license, which hopefully will take no more than 4–8 weeks to complete. As soon the necessary paperwork is done, we will be opening banking accounts and connecting payment gateways for accepting fiat deposits. Opening up our platform to fiat players should drastically improve our position among competitors.

Implementing the new design

We expect the new design to be finished in March and deployed on the latest version of the platform running on Elixir. As soon as we move closer to a testing environment, we will start sending out invitations to our clients to try out the new look and share their feedback. Watch out for new announcements and screenshots as we progress and give us your thoughts.

Mobile App

We have decided to postpone the development of a mobile app until the engine of the platform is fully transformed, and the website has got a brand new design.

Roulette & BitAces

BitAces is likely to be added within the upcoming quarter while adding Roulette is highly unlikely due to increased work load related to Elixir transformation and implementation of the new design.

On-site Raffles

Raffles are in the pipeline to be implemented within this quarter on the current version of the website.


Blog Post: https://medium.com/@BitDice/bitdice-casino-quarterly-report-q4-2017-db7aed906a46


Kind regards,
The Team of BitDice Casino

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Bitfort
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January 26, 2018, 12:08:32 PM
 #2087

BitDice Casino Quarterly Report: Q4 2017

https://medium.com/@BitDice/bitdice-casino-quarterly-report-q4-2017-db7aed906a46

PS: We will update this post with blog's content.

Regards,
BitDice Team.

Nice results. I consider $0,01513 per token pretty good but I'm especially happy you're going to aquire license during upcoming months (this for sure grants even more confidence and bring more players).
Good work and thanks.

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January 26, 2018, 04:06:30 PM
 #2088

I was looking at getting csno tokens but do not understand because you said the distribution is $0.01513 and an annual yield of 43.22% but either your math is way off or I was not taught right. The token right now is $0.2908 and you are paying every 3 months so $0.01513 times 4 is $0.06052 each year and then dividing into the token is $0.06052 divided by $0.2908 is 20.81%, much less than what you said and even at its lowest the token was $0.23 which is 26.31% but that was its price a week ago and even with that lowest price you are still off by a lot... I am not saying that 20% a year is bad but this brings up trust issues with me if you are purposely giving fake information and lying to make things seem better so please clarify...
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January 26, 2018, 04:34:09 PM
 #2089

I was looking at getting csno tokens but do not understand because you said the distribution is $0.01513 and an annual yield of 43.22% but either your math is way off or I was not taught right. The token right now is $0.2908 and you are paying every 3 months so $0.01513 times 4 is $0.06052 each year and then dividing into the token is $0.06052 divided by $0.2908 is 20.81%, much less than what you said and even at its lowest the token was $0.23 which is 26.31% but that was its price a week ago and even with that lowest price you are still off by a lot... I am not saying that 20% a year is bad but this brings up trust issues with me if you are purposely giving fake information and lying to make things seem better so please clarify...

ICO price was 14 cents per token without bonuses.

Regards,
Alex.

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January 26, 2018, 04:44:13 PM
 #2090

I was looking at getting csno tokens but do not understand because you said the distribution is $0.01513 and an annual yield of 43.22% but either your math is way off or I was not taught right. The token right now is $0.2908 and you are paying every 3 months so $0.01513 times 4 is $0.06052 each year and then dividing into the token is $0.06052 divided by $0.2908 is 20.81%, much less than what you said and even at its lowest the token was $0.23 which is 26.31% but that was its price a week ago and even with that lowest price you are still off by a lot... I am not saying that 20% a year is bad but this brings up trust issues with me if you are purposely giving fake information and lying to make things seem better so please clarify...

ICO price was 14 cents per token without bonuses.

Regards,
Alex.

When you are looking at the roi you look at it based on prices now. If you do not you would end up like Coke saying that their roi/div yield is 2960% because in 1919 the stock was $0.05 after accounting for stock splits and they just announced annual dividend of $1.48. Your real roi is 20.81% for csno.

Do csno tokens on a bitdice account get dividends too or do they have to be in an ether wallet?
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January 26, 2018, 07:59:30 PM
 #2091

I was looking at getting csno tokens but do not understand because you said the distribution is $0.01513 and an annual yield of 43.22% but either your math is way off or I was not taught right. The token right now is $0.2908 and you are paying every 3 months so $0.01513 times 4 is $0.06052 each year and then dividing into the token is $0.06052 divided by $0.2908 is 20.81%, much less than what you said and even at its lowest the token was $0.23 which is 26.31% but that was its price a week ago and even with that lowest price you are still off by a lot... I am not saying that 20% a year is bad but this brings up trust issues with me if you are purposely giving fake information and lying to make things seem better so please clarify...

ICO price was 14 cents per token without bonuses.

Regards,
Alex.

When you are looking at the roi you look at it based on prices now....

And which one exactly? One hour ago? Two hours ago? Few days ago? Or the one at Dec-31-2017? (currently I see $0.325 per token which would mean only 18.8% ROI)
See the flaw in your logic?

Mentioned numbers are relevant for investor who bought CSNO when ICO started. If you bought them later then of course use your actual purchase price to calculate your real ROI but you can't ask them to create report containing entire price range people could bought the tokens during the period (range was from $0.23 to $0.27 per token) with corresponding ROI. You have to calculate this yourself.

@dogedice.me  would be great to update the OP as well ( add link to report or to your post containing the report )

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January 27, 2018, 01:07:23 AM
 #2092

I was looking at getting csno tokens but do not understand because you said the distribution is $0.01513 and an annual yield of 43.22% but either your math is way off or I was not taught right. The token right now is $0.2908 and you are paying every 3 months so $0.01513 times 4 is $0.06052 each year and then dividing into the token is $0.06052 divided by $0.2908 is 20.81%, much less than what you said and even at its lowest the token was $0.23 which is 26.31% but that was its price a week ago and even with that lowest price you are still off by a lot... I am not saying that 20% a year is bad but this brings up trust issues with me if you are purposely giving fake information and lying to make things seem better so please clarify...

ICO price was 14 cents per token without bonuses.

Regards,
Alex.

When you are looking at the roi you look at it based on prices now....

And which one exactly? One hour ago? Two hours ago? Few days ago? Or the one at Dec-31-2017? (currently I see $0.325 per token which would mean only 18.8% ROI)
See the flaw in your logic?

Mentioned numbers are relevant for investor who bought CSNO when ICO started. If you bought them later then of course use your actual purchase price to calculate your real ROI but you can't ask them to create report containing entire price range people could bought the tokens during the period (range was from $0.23 to $0.27 per token) with corresponding ROI. You have to calculate this yourself.

@dogedice.me  would be great to update the OP as well ( add link to report or to your post containing the report )


Google how dividends are reported and then you can talk because it is very clear you have never held an actual company before or run one considering every company in the entire world reports this the same way...
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January 27, 2018, 06:25:08 AM
 #2093

I was looking at getting csno tokens but do not understand because you said the distribution is $0.01513 and an annual yield of 43.22% but either your math is way off or I was not taught right. The token right now is $0.2908 and you are paying every 3 months so $0.01513 times 4 is $0.06052 each year and then dividing into the token is $0.06052 divided by $0.2908 is 20.81%, much less than what you said and even at its lowest the token was $0.23 which is 26.31% but that was its price a week ago and even with that lowest price you are still off by a lot... I am not saying that 20% a year is bad but this brings up trust issues with me if you are purposely giving fake information and lying to make things seem better so please clarify...

ICO price was 14 cents per token without bonuses.

Regards,
Alex.

When you are looking at the roi you look at it based on prices now....

And which one exactly? One hour ago? Two hours ago? Few days ago? Or the one at Dec-31-2017? (currently I see $0.325 per token which would mean only 18.8% ROI)
See the flaw in your logic?

Mentioned numbers are relevant for investor who bought CSNO when ICO started. If you bought them later then of course use your actual purchase price to calculate your real ROI but you can't ask them to create report containing entire price range people could bought the tokens during the period (range was from $0.23 to $0.27 per token) with corresponding ROI. You have to calculate this yourself.

@dogedice.me  would be great to update the OP as well ( add link to report or to your post containing the report )


Google how dividends are reported and then you can talk because it is very clear you have never held an actual company before or run one considering every company in the entire world reports this the same way...

Have to say I'm not fan of the general: Look how others doing that (unless it's standardized by law .. in which case no discussion because laws has to be followed).

But straight to the point.
Results are for Q4-2017. To be eligible for dividend payout you had to purchase tokens before (31-Dec-2017). During Q4-2017 the price floated between $0.14 and $0.27 per token. Thus using the $0.14 is relevant value to calculate ROI for given period (naturally every company tends to use the best possible resut in reports).
Nevertheless for upcoming period they could indeed use the lowest price (again just to reflect the best result) for which tokens will be traded during Q1-2018.

Sum up: IMO report is correct and nobody mislead us (nor provided fake information)

BTW I've received the ETH payout. Thanks bitdice.


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January 28, 2018, 07:13:24 AM
 #2094


We have started with re-designing the application’s front-end to give it an entirely new authentic look. It became clear to us that adding more games to the line of existing ones, as well as adding new payment methods will be hard to achieve without upgrading the face of the Casino. We have picked up the top web design studio on Behance and are having close communication with them and their illustrators while they are creating a masterpiece, unseen before in the world of online casinos. We want to get a revolutionary idea when it comes to design, and we will stand out from the rest of competitors. The front page development is still in progress, and the static look of it will not be able to express the depth of its animating details — but it looks awesome without a doubt. We would also like to get early feedback from our playing community regarding the new design, so we look forward to hearing from you on all our communication channels (telegram, website, etc.).


Hi Alex.  What payment methods are you planning to add?  Altcoins or maybe something else like Skrill or Neteller?  Just curious, thanks.

Anyway if it's more altcoins acceptance, then I guess Bcash should be first in that list since there were some users who had BTC in Bitdice during the hard fork, and are naturally entitled to their share of Bcash.

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January 28, 2018, 07:21:19 AM
 #2095


We have started with re-designing the application’s front-end to give it an entirely new authentic look. It became clear to us that adding more games to the line of existing ones, as well as adding new payment methods will be hard to achieve without upgrading the face of the Casino. We have picked up the top web design studio on Behance and are having close communication with them and their illustrators while they are creating a masterpiece, unseen before in the world of online casinos. We want to get a revolutionary idea when it comes to design, and we will stand out from the rest of competitors. The front page development is still in progress, and the static look of it will not be able to express the depth of its animating details — but it looks awesome without a doubt. We would also like to get early feedback from our playing community regarding the new design, so we look forward to hearing from you on all our communication channels (telegram, website, etc.).


Hi Alex.  What payment methods are you planning to add?  Altcoins or maybe something else like Skrill or Neteller?  Just curious, thanks.

Anyway if it's more altcoins acceptance, then I guess Bcash should be first in that list since there were some users who had BTC in Bitdice during the hard fork, and are naturally entitled to their share of Bcash.

To add, can anyone confirm if you need to have csno tokens in a private wallet before you can get dividends or can you put them on the site and get them too?
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January 28, 2018, 12:35:50 PM
 #2096

To add, can anyone confirm if you need to have csno tokens in a private wallet before you can get dividends or can you put them on the site and get them too?

As far as i know (and read at some point) you must have it in your ETH wallet,which must be compatible with ERC20 tokens. Like myetherwallet or metamask.
I really dought that any exchanger can (or will) give you the dividents if you keep your tokens there.

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January 28, 2018, 04:46:06 PM
 #2097

To add, can anyone confirm if you need to have csno tokens in a private wallet before you can get dividends or can you put them on the site and get them too?

As far as i know (and read at some point) you must have it in your ETH wallet,which must be compatible with ERC20 tokens. Like myetherwallet or metamask.
Yes that's correct, alex had given instruction on how to receive the dividends. it can be found on bitdice medium blog.

I really dought that any exchanger can (or will) give you the dividents if you keep your tokens there.
They probably don't want to do extra work/deal with it. if anyone had kept CSNO on exchanges their dividends will be taken up by exchanges. tokens that distribute dividends are best kept in private ETH wallet/address.
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January 28, 2018, 06:10:06 PM
 #2098

I really dought that any exchanger can (or will) give you the dividents if you keep your tokens there.
They probably don't want to do extra work/deal with it. if anyone had kept CSNO on exchanges their dividends will be taken up by exchanges. tokens that distribute dividends are best kept in private ETH wallet/address.

Yes exchanges never credit such transactions to their users. They take it and add to their profit.

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arisatox
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January 29, 2018, 03:19:29 AM
 #2099

I really dought that any exchanger can (or will) give you the dividents if you keep your tokens there.
They probably don't want to do extra work/deal with it. if anyone had kept CSNO on exchanges their dividends will be taken up by exchanges. tokens that distribute dividends are best kept in private ETH wallet/address.

Yes exchanges never credit such transactions to their users. They take it and add to their profit.

Yes, I was not asking for like exchange but bitdice itself because it seems like it would not be hard for the admin to give dividends there too, but I will look into the myetherwallet. Thanks.
Bitfort
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January 29, 2018, 10:19:14 PM
 #2100

I really dought that any exchanger can (or will) give you the dividents if you keep your tokens there.
They probably don't want to do extra work/deal with it. if anyone had kept CSNO on exchanges their dividends will be taken up by exchanges. tokens that distribute dividends are best kept in private ETH wallet/address.

Yes exchanges never credit such transactions to their users. They take it and add to their profit.

Yes, I was not asking for like exchange but bitdice itself because it seems like it would not be hard for the admin to give dividends there too, but I will look into the myetherwallet. Thanks.

Seems you misunderstood how it works.
Bitdice did snapshot of all token holders addresses with the amount. Then send ETH to all those addresses. Exchanges already received the dividends to their hot wallets but it's up to them to decide whether share it among customers. I doubt though, It's additional work. Much easier to keep them.

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