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Author Topic: Casinobit - LIVE ROULETTE - [INVEST] - BEST CASINO OF 2013  (Read 81528 times)
elm
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September 18, 2013, 08:14:29 AM
 #961

sorry if the question was answered already, but could some one explain how this investment offer worked?

I think how it worked was that the first ones to withdraw got all the coins, and the ones who were left got nothing.

I don't think that's how it was designed to work, but it's the most likely explanation of the current troubles.

The site owner has refused over and over again to explain why he is unable to pay back the remaining investors at the current time.  He has also refused to say why he won't explain the situation.  I advise caution.

We have crunched a deal which leaves him debt free and all investors and players credited with any balance they so have. Why this individual would not accept the deal is beyond me.

very generous offer. I was also in contact with seller but after asking him to give some numbers so I can calculate my offer he didnt reply. that was at least 10 days ago
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September 18, 2013, 02:08:30 PM
 #962

Will there be any effort to put proper limits on the bets? I think potential investors would like to know. Right now, it appears you can bet up to 6.7 on single numbers, which means the house risk would be up to 234.5 on a single spin. That's currently more than the entire bankroll of 210 (which apparently is gone anyway). Again, I have to wonder why the site is still running!!! How can you keep it going with no BTC?

The house should only risk 2.7% of the bankroll per spin. With a bankroll of 210, the max bet should be 0.16 for a single number, 0.33 for a pair; all the way up to 5.68 for red, black, etc.

That should be calculated on the fly: if someone bets the max on red, you can double the max on black since only one of those bets will win. Likewise, if someone bets the max on 1, you must make the max bet 0 on odd numbers, (1,2), 1-18, etc. because a spin of 1 would go over the 2.7% limit.

This is all pretty basic math, and should have been considered before release. Now that you have a chance to "reset," you should do it properly. There is no way I would invest (nor should anyone else) without proper limits on player bets. And that's assuming anyone would trust the site again...
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September 18, 2013, 02:30:08 PM
 #963

ok so I cant see it because I dont have an account. thanks or maybe could You give me the number of the total bankroll right now?
209.83502BTC as of now. Most probably more, but investors didn't reinvest their coins. Was ranging around 340+ some weeks ago.
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September 18, 2013, 02:31:11 PM
 #964

I told before about the max bet problem. I agree it might be better if the casino manage the risk for the investors; but, nothing stop sensible investors from managing the risk by themselves and investing their bankroll accordingly. Investing all your capital in one lump sum with those condition is not the smartest thing to do since the house will certainly bust at regular interval.
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September 18, 2013, 03:25:12 PM
 #965

I told before about the max bet problem. I agree it might be better if the casino manage the risk for the investors; but, nothing stop sensible investors from managing the risk by themselves and investing their bankroll accordingly. Investing all your capital in one lump sum with those condition is not the smartest thing to do since the house will certainly bust at regular interval.

With the current system, you really cannot achieve optimum investment. According to Kelly, the house should risk no more than 2.7% per spin on a game with a 2.7% edge. How can you do that if different bets allow different % maximums? Right now, a single-number bet allows player profits up to 100% of bankroll, but a red or black is only allowing 3.2% of bankroll. As an investor, you can't properly manage risk. It has to be at the bet level.

Just-Dice has this down to a science. Granted, roulette is a bit different since there are multiple bets per spin, but basically you can figure out the worst-case for each possible bet fairly easily, and limit worst-case payout to 2.7% for the entire table.
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September 19, 2013, 04:37:01 PM
 #966

Site seems to be down again ...  Undecided
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September 19, 2013, 04:42:08 PM
 #967

Site seems to be down again ...  Undecided
Site is up from Canada but not access to my account. Maybe it's the time for the so awaited withdrawal button update?

update: there is definitely things changing in the interface.
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September 19, 2013, 05:23:14 PM
 #968

It's funny now my balance appear on the right with Chrome but still on the left with Firefox.
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September 19, 2013, 06:00:57 PM
 #969

Jeez hoping so much for that. BTW using firefox the balance is shown on the right side for me.
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September 19, 2013, 11:24:05 PM
 #970

Loads fine here.

Balance on the right, with chrome.

At least something is changing, hehe.

I've noticed I gained a little profit with the balance I have left invested, players gonna play, I guess...

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September 19, 2013, 11:33:06 PM
 #971

Not only is he stealing money... he's ripping people off.  I have recorded bets I was making with money that I was never going to get back any way.  Had a bet placed for 7 BTC on black and won.  Bet never showed and it hit. 

฿itC0in Tr@d3r
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September 20, 2013, 12:03:30 AM
 #972

Not only is he stealing money... he's ripping people off.  I have recorded bets I was making with money that I was never going to get back any way.  Had a bet placed for 7 BTC on black and won.  Bet never showed and it hit. 
Relax until the deadline then call scam all you want: https://bitcointalk.org/index.php?topic=171094.msg3166691#msg3166691
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September 20, 2013, 12:11:26 AM
 #973

Not only is he stealing money... he's ripping people off.  I have recorded bets I was making with money that I was never going to get back any way.  Had a bet placed for 7 BTC on black and won.  Bet never showed and it hit. 

Haha, I did a little of that too, but I just lost...

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September 20, 2013, 12:27:41 AM
 #974

Not only is he stealing money... he's ripping people off.  I have recorded bets I was making with money that I was never going to get back any way.  Had a bet placed for 7 BTC on black and won.  Bet never showed and it hit. 
Relax until the deadline then call scam all you want: https://bitcointalk.org/index.php?topic=171094.msg3166691#msg3166691

The deadline was the point when someone hits withdraw and nothing comes out.  I am uninterested in his bullshit timelines.  He's nothing but a low down cheat and that's all he'll ever be.  He can change his name... his fake Casino's name.. but it doesn't change that fact that he's worthless. 

฿itC0in Tr@d3r
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September 20, 2013, 12:29:42 AM
 #975

Not only is he stealing money... he's ripping people off.  I have recorded bets I was making with money that I was never going to get back any way.  Had a bet placed for 7 BTC on black and won.  Bet never showed and it hit.  
Relax until the deadline then call scam all you want: https://bitcointalk.org/index.php?topic=171094.msg3166691#msg3166691

The deadline was the point when someone hits withdraw and nothing comes out.  I am uninterested in his bullshit timelines.  He's nothing but a low down cheat and that's all he'll ever be.  He can change his name... his fake Casino's name.. but it doesn't change that fact that he's worthless.  
lol everyone was berating him for not giving any deadline for a month and now that he gave one nothing change.  Cheesy
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September 20, 2013, 12:50:11 AM
 #976

Not only is he stealing money... he's ripping people off.  I have recorded bets I was making with money that I was never going to get back any way.  Had a bet placed for 7 BTC on black and won.  Bet never showed and it hit.  

I don't wanna look like a dick by saying this, but shits happens, deal with it!

A few years ago, I started in the Internet money making stuff. After a few weeks of studying all of those "investment programs and opportunities" and just realized it was all a scam, and everybody knew it, except me because I was the new guy, here's one example where I had some bucks lost: http://en.wikipedia.org/wiki/Charis_Johnson

I've made some money and I've lost some money, but when a website turned out to be a scam, we just moved on, because the investment approach golden rule always was "don't invest more than what you are not prepared financially or psychologically to lose".

I started a few months in here and I have to say, way most trustworthy to invest around here, even with the anonymity thing, the HYIP/Matrixes/Autosurfs/whatever were pretty much a risky gamble, many people tried to fooled you with saying it was a serious business based on forex and that's why they could give 250% ROI after 3 days. (LOL)

You can still play in the HYIP/Matrixes/Autosurf "industry", that is still around...

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September 20, 2013, 06:25:19 AM
 #977

Not worried about this looser any more. He's in for a surprise anyway;-/.  Start mining at "Significantly" over 400 GH/s in 2 weeks.  Kisses to KNCMiner! GLE milking this turnip for anything except hot air. 

-Deuces

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September 20, 2013, 12:46:07 PM
 #978

Not worried about this looser any more. He's in for a surprise anyway;-/.  Start mining at "Significantly" over 400 GH/s in 2 weeks.  Kisses to KNCMiner! GLE milking this turnip for anything except hot air. 

-Deuces

Don't get me wrong, the stuff I was involved in 2006 was something like 99% scams, quite the opposite of what you see here, the vast majority of bitcoin businesses are legit, and I do believe CasinoBit is one of those and you'll see your coins again, but insulting and threatening the admin doesn't help a bit, the only thing we can do is wait...

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September 20, 2013, 06:03:54 PM
 #979

Alright, site's down http://downforeveryoneorjustme.com/www.casinobit.net and 3 more days (including Monday) until deadline reached. BTW where is that guy claiming to have personal information of the site owner? He said he'd make it publicly available if no one would get his coins outta there.
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September 20, 2013, 07:14:53 PM
 #980

Alright, site's down http://downforeveryoneorjustme.com/www.casinobit.net and 3 more days (including Monday) until deadline reached. BTW where is that guy claiming to have personal information of the site owner? He said he'd make it publicly available if no one would get his coins outta there.

We are suffering DDoS attacks like the rest of Bitcoin casinos after a failed extortion attempt. I haven't took the server below the armpit and moved to Casablanca  Smiley

Thanks for pointing that out by the way!
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