Just-Dice.com : now with added CLAMs : Play or Invest

[Samarkand]

I understand that the purpose of the offsite balance was not accumulating too many CLAMS insite. However, seeing that there's a circulating supply of 2 631 279 clams (https://coinmarketcap.com/currencies/clams/), and a theoretical bankroll of 13 852 378 (200 times the current max profit), 5.64 times bigger, it's evident the offsite function isn't being employed as intended. Investors are forced to use a multiplier as big as the rest of investors, so their position isn't deluted. But by doing that, she's lying, like the majority of other investors.

...

Dooglus should just remove the /offsite feature.
It has been used like you describe it (all people have to lie about their holdings in order to not
get diluted) since the introduction of this feature.

[1714004767]

1714004767

[1714004767]

1714004767

[1714004767]

1714004767

[dooglus]

Investors are forced to use a multiplier as big as the rest of investors, so their position isn't deluted

I don't agree with that part. Nobody is forced to risk more than they want to.

I also don't see it as "lying" to use the "offsite" feature to invest more CLAMs than you actually hold. I do it myself. I have at least 25 times more wealth outside of CLAM than I have in CLAMs, so using "offsite max" isn't unreasonable for me to do. If I lose my entire deposit, I can buy more CLAMs and start over. It allows me to invest reasonably without having to convert all my money into CLAMs.

If others want to "abuse" the feature to take excessive risk, that's up to them. They might lose their investment and not be able to replace it, but they knew the risks when investing too much.

[Timetwister]

Investors are forced to use a multiplier as big as the rest of investors, so their position isn't deluted

I don't agree with that part. Nobody is forced to risk more than they want to.

I also don't see it as "lying" to use the "offsite" feature to invest more CLAMs than you actually hold. I do it myself. I have at least 25 times more wealth outside of CLAM than I have in CLAMs, so using "offsite max" isn't unreasonable for me to do. If I lose my entire deposit, I can buy more CLAMs and start over. It allows me to invest reasonably without having to convert all my money into CLAMs.

If others want to "abuse" the feature to take excessive risk, that's up to them. They might lose their investment and not be able to replace it, but they knew the risks when investing too much.

If someone comes and starts betting for max profit and winning it, investors wouldn't be able to buy the needed CLAMS to deposit them, even if they are online and ready to buy them in an exchange (totally unrealistic). Actually, there aren't even enough CLAMS being offered in exchanges to buy them in that scenario (357703 are available on Poloniex now, that's only about 40% of the insite bankroll, and that obviously includes those listed for way more than the current price, like a 190345 clams sell order for BTC0.008 each, about 4 times the current price). An scenario like a short squeeze would occur in that case. It's just not possible to buy back hundreds of thousands of CLAMS.

What you are allowing, which is basically leverage, wouldn't be that problematic if it wasn't because Just-Dice bankroll is about 1/3 of the total supply of this coin, and average leverage is 1:15. The scenario of someone betting for the max profit may be unlikely, but it just makes no sense to risk getting in that situation. In that scenario, only those that aren't lying with their insite+offsite bankroll (which is probably just a minority of people as you are forced to be at 1:25 not to be deluted) would be able to bear the downswing. Meanwhile the rest of investors would be losing about 7% of their CLAMS in each max profit lost bet, instead of the optimal 1% or a conservative 0.5%.

Maximum allowed leverage on CLAMS should be money supply/insite bankroll (and that's already risky as the rest of existing coins aren't ready to be bought on exchanges). Actually I'd just get rid of the offsite function and just make max profit 1% of the (real) bankroll, equal to our edge.

[Josepht]

If someone comes and starts betting for max profit and winning it, investors wouldn't be able to buy the needed CLAMS to deposit them, even if they are online and ready to buy them in an exchange (totally unrealistic). Actually, there aren't even enough CLAMS being offered in exchanges to buy them in that scenario (357703 are available on Poloniex now, that's only about 40% of the insite bankroll, and that obviously includes those listed for way more than the current price, like a 190345 clams sell order for BTC0.008 each, about 4 times the current price). An scenario like a short squeeze would occur in that case. It's just not possible to buy back hundreds of thousands of CLAMS.

I don't see the problem? If there are 357.703 coins available to be bought on polonies (there are probably other sites who sell the coins as well), and the max win is 70k-ish, everyone would be able to buy their CLAMS back.

What you are allowing, which is basically leverage, wouldn't be that problematic if it wasn't because Just-Dice bankroll is about 1/3 of the total supply of this coin, and average leverage is 1:15. The scenario of someone betting for the max profit may be unlikely, but it just makes no sense to risk getting in that situation. In that scenario, only those that aren't lying with their insite+offsite bankroll (which is probably just a minority of people as you are forced to be at 1:25 not to be deluted) would be able to bear the downswing. Meanwhile the rest of investors would be losing about 7% of their CLAMS in each max profit lost bet, instead of the optimal 1% or a conservative 0.5%.

I don't see the problem here either. As an investor, you have the choise to take a higher risk, you don't have to if you don't want to.
Personally, I like to have more profit as an investor, so I do take a higher leverage when I invest. If I lose bigger, I realize that it's part of the game, but in the long run, I'm making more money.

[BayAreaCoins]

I don't see the problem? If there are 357.703 coins available to be bought on polonies (there are probably other sites who sell the coins as well), and the max win is 70k-ish, everyone would be able to buy their CLAMS back.

God that would be a painful day.

[Timetwister]

If someone comes and starts betting for max profit and winning it, investors wouldn't be able to buy the needed CLAMS to deposit them, even if they are online and ready to buy them in an exchange (totally unrealistic). Actually, there aren't even enough CLAMS being offered in exchanges to buy them in that scenario (357703 are available on Poloniex now, that's only about 40% of the insite bankroll, and that obviously includes those listed for way more than the current price, like a 190345 clams sell order for BTC0.008 each, about 4 times the current price). An scenario like a short squeeze would occur in that case. It's just not possible to buy back hundreds of thousands of CLAMS.

I don't see the problem? If there are 357.703 coins available to be bought on polonies (there are probably other sites who sell the coins as well), and the max win is 70k-ish, everyone would be able to buy their CLAMS back.

What you are allowing, which is basically leverage, wouldn't be that problematic if it wasn't because Just-Dice bankroll is about 1/3 of the total supply of this coin, and average leverage is 1:15. The scenario of someone betting for the max profit may be unlikely, but it just makes no sense to risk getting in that situation. In that scenario, only those that aren't lying with their insite+offsite bankroll (which is probably just a minority of people as you are forced to be at 1:25 not to be deluted) would be able to bear the downswing. Meanwhile the rest of investors would be losing about 7% of their CLAMS in each max profit lost bet, instead of the optimal 1% or a conservative 0.5%.

I don't see the problem here either. As an investor, you have the choise to take a higher risk, you don't have to if you don't want to.
Personally, I like to have more profit as an investor, so I do take a higher leverage when I invest. If I lose bigger, I realize that it's part of the game, but in the long run, I'm making more money.

70000 would.be losing just one bet. That's not a big deal. One bet of 7% of the bankroll, instead of 1% that it should be. But that player could keep betting and eating our bankroll at a rate of 7% per bet, instead of 1%. There simply aren't enough Clams in existence to keep buying them outside and depositing them on Just Dice. And that's assuming investors were online and had funds ready at the exchange to buy them, which isn't realistic at all.

Optimal leverage is something slightly higher than losing a maximum of 1% of your bankroll per bet (as 1% is our edge), because most bets target much smaller prizes. But 7% is just reckless. Or 12.5% if you are using 25x multiplier.

It simply makes no sense to allow that degree of leverage. Investors would get the same kind of returns as now if everyone was capped as about 3x, but we wouldn't risk being destroyed the day someone bets against max profit.

[theskillzdatklls]

clam price is rocking. good times

[misterkel]

Been losing bankroll profit every single day, even when site bankroll wins.

Anybody know what's happening there?

[Timetwister]

Does your share of the staking profit depend on (your onsite investment)/(onsite total bankroll) or (your onsite+offsite investment)/(onsite+offsite total bankroll)?

[gembitz]

Just-Dice.com

Check out the gambling site I made.  It's a dice game, with the following features:

* low 1% house edge
* near-instant rolls
* off-the blockchain, so no blockchain spam
* high limits - currently you can win 21 31 58 75 90 114 129 142 153 219 291 BTC per roll* - and the limits go up daily
* win up to 1 million times your bet
* pick your own odds of winning
* lively on-site chat room
* provably fair (of course)
* roll "high" or "low"
* keyboard shortcuts for quicker, easier play

The really neat thing about it though is that you can also "be the house", and invest any balance you're not using in the site's bankroll.  Then when other players lose, you win.

For investors, here's the feature list:

* massive 1% house edge
* investing is easy and instant; click the 'invest' tab for details
* take your investment out instantly too
* site operator (that's me) is a long-standing forum member in good standing with the community
* invest as little as 0.001 BTC; no upper limit
* net profit is split between the house and the investors as follows: house gets 10%, investors get 90%.

So now you can easily have your own share in a dice game without the hassle and expense of using stock exchanges, passthroughs, etc.  All investments received go instantly to the site's bankroll and increase the maximum bet size offered to players.  There's a separate thread in the Securities forum for discussion relating to Just-Dice investments.  I recommend that investors 'Watch' that thread since I'll use it to make announcements should I need to.

Just-Dice.com

I will credit the first 200 people who post their user ID (from the 'account' tab) in this thread with a free bitcent to get you started.  You are free to gamble, invest, or just withdraw it as you please.   Promo is over.  Thanks for taking part!

* the maximum profit per roll is currently 0.5% of the bankroll of the site.  The bankroll is provided by investors.  The bankroll has grown to become enormous, as can be seen by looking at the cold wallet address.

avalanche effect ?          :-D

https://poloniex.com/exchange#btc_clam

WEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

[theskillzdatklls]

sick price crash, but clams always comes back

[dooglus]

Does your share of the staking profit depend on (your onsite investment)/(onsite total bankroll) or (your onsite+offsite investment)/(onsite+offsite total bankroll)?

The former.

Offsite CLAMs don't stake, and so don't count in the staking reward calculation.

[dooglus]

Been losing bankroll profit every single day, even when site bankroll wins.

Anybody know what's happening there?

I think the most likely explanation is that you're using the wrong day end time. The on-site stats count the daily profit from midnight UTC to midnight UTC. Try doing the same and then see how well your daily profits match the site's reported profits.

We wouldn't expect your profit to be a fixed percentage of the site's profit, since people are going in and of the bankroll pretty often, but it should be close enough.

[Crikien]

Looks like the site is down right now for me.  Anyone else?

[dooglus]

Looks like the site is down right now for me.  Anyone else?

It seems to be down for lots of people. I'm able to connect if I use Tor, but not directly.

The site's fine, but lots of people are having trouble reaching it. I suspect a problem bigger than Just-Dice. I can't reach bitcoincharts.com either, but again can if I use Tor.

[grunt]

It's down for me :-/

[dooglus]

It's down for me :-/

And now it's back, right? It is for me, anyway.

[Crikien]

Back up for me as well.  Thanks for the quick response Doog.

[grunt]

Yeah it bounced back pretty quick.

I was a little scared about J-D disappearing after that huge market dump.

[gembitz]

CLAM @ 75000 #spaceshuttles to marzzz

https://poloniex.com/exchange#btc_clam