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

[frott]

Here's how to make people who invested earlier gain more:

Imaging a user bid 1 BTC on 50/50. This means, out of the pool of JD, 1 BTC is wagered against him (well, actually 0.99 BTC but for simplicity I put 1).

The question is: whose BTC is being wagered against the user? Right now, it is taken from all the investements in equal proportion. What can be done instead, is that it is taken from all investments *weighted* by the time they invested they made the investment. For example, 1/5 BTC from the first month's investments, 1/4 form the second etc. In fact, better use slower decreasing weights to make the investement attractive for new users as well. For example,  [1/k(k+1) - 1/N(N+1)] weight for the BTC number k, with N being total number BTC invested.
Obviously, the wins/losses then are devided in this proportions.

one issue with this is that a common pattern could be:

divest all
gamble
invest all

I don't see how that could be a problem. If you divest and then reinvest then of course your investement moves all the way to the end of the line, and will be earning less. Wheter you gamble in between doesn't matter.

it is a problem because you're moving my investment out of the line, when i clearly wish to remain an investor and i was an early investor.

the flipside would be having the ability to just gamble with investment as though it were deposited and not "withdraw".  investing/divesting is then flagging which of your funds are eligible for use by the site's bankroll and subject to gains/losses via site profit %, and all of it is eligible for wagering with.

i would do that if that were an option. of course, that is easier said than done since the auth works off of divesting, etc.

[frott]

dooglus you should have ran an investment site 3100 bitcoins in just 3 days.


BTW how is "luck" calculated? Is that the house edge? And is it on a daily basis?

It's calculated bet-by-bet.  And it's the number of bets that have been won expressed as a percentage of the number that you would expect to be won.

So if you play a 10% chance-of-winning game 2000 times and win 200 times (as expected) you get luck=100%.  If you only win 180 times, the luck is 90%.

The problem is when people play the 0.0001% game (one in a million chance).  Each time they lose (which is almost every time), the luck drops a bit.  Then when they win, the luck jumps right up.  It has been won twice already (see milestone list) in less than 2 million tries, so the overall luck is well over 100%, even though the bets themselves are mostly insignificant, being all single-satoshi bets.

If anyone can think of a better way of calculating "how lucky" the players have been (individually, and as a whole) I'd love to hear it!

i would go with moving averages alongside "total forever" ...

as long as you have those windows (1 hour, 24 hours of luck, 3 days of luck) the overall luck doesn't matter as much when off kilter.

it would be nice to see

total luck 160%, last hour 90%, 3 hours 101%, 24 hours, 200%

etc

[hmeds]

ID:
1461

[Vink]

https://just-dice.com/roll/1612582

[Bowjob]

ID: 954

Lets play.

[dooglus]

ID: 954

Lets play.

Yes, let's! 

[dooglus]

https://just-dice.com/roll/1612582

Yes indeed, our first 200 BTC bet.  That's over $20,000 on a single dice roll, on a site that's been up for 3 days.

More generally, I was keeping a list of milestone bets:

https://just-dice.com/milestones.txt

First bet over 10 BTC:
  https://just-dice.com/roll/10544

First bet over 30 BTC:
  https://just-dice.com/roll/13364

First bet to lose 10 BTC:
  https://just-dice.com/roll/13561

First bet over 50 BTC:
  https://just-dice.com/roll/14297

First 990,000x winner (hit 00.0000%):
  https://just-dice.com/roll/708311

First crazy 50% martingale sequence:
  https://just-dice.com/roll/1188508:  1 BTC at 50% hi: lucky:348585 profit: -1
  https://just-dice.com/roll/1188539:  2 BTC at 50% hi: lucky:390462 profit: -2
  https://just-dice.com/roll/1188563:  4 BTC at 50% hi: lucky:437957 profit: -4
  https://just-dice.com/roll/1188586:  8 BTC at 50% hi: lucky:254866 profit: -8
  https://just-dice.com/roll/1188610: 16 BTC at 50% hi: lucky: 71538 profit:-16
  https://just-dice.com/roll/1188664: 25 BTC at 50% hi: lucky:503020 profit: 24.5

Second 990,000x winner (hit 99.9999%):
  https://just-dice.com/roll/1565360

First bet of 200 BTC!
  https://just-dice.com/roll/1612582

[MRKLYE]

My user ID is 1470.

Going to throw the bitcent you are giving me against the game.. maybe win a prize!

[counter]

Interesting game, I look forward to learning more about it and maybe invest thanks for the bitcent!

ID: 1475

[claycoins]

my id is 1477

THanks

[iANDROID]

What is your gambling license?

If you are not licensed, you are violating the law!

THIS IS A SCAM AND ILLEGAL

USA isn't the center of the world 

[xminerx]

Always interested to gamble with free money!

ID > 1498

Thanks!

[dooglus]

Always interested to gamble with free money!

ID > 1498

Thanks!

Good luck all.

89 2013-06-23 06:17:41 (1) manually crediting user 954 with amount 0.01 Bowjob
90 2013-06-23 06:58:34 (1) manually crediting user 1470 with amount 0.01 MRKLYE
91 2013-06-23 10:38:19 (1) manually crediting user 1475 with amount 0.01 counter
92 2013-06-23 10:40:27 (1) manually crediting user 1477 with amount 0.01 claycoins
93 2013-06-23 10:42:07 (1) manually crediting user 1498 with amount 0.01 xminerx

[dooglus]

User ID - 10.

Looks like a good site, and design. Good idea, by the way!

(The design might be a little confusing, but I'll figure it out.)
(Also kinda annoying how your max profit is 2.50BTC, though I respect your decision to make it that.)

The max profit is always currently 1% of the bankroll provided by investors.  At the start, that was only 250 BTC, but it's now around 5000 BTC, so we now offer a max profit of 50 BTC.  Hopefully it will continue to increase.

[siennamar]

My user ID is 1514

[iANDROID]

Well, give me those BTC doog'!

(> 886)

[Evolyn]

The concept sounds really nice. I really like the idea how to invest. Even if u dont like gamble, worth to look into.

My ID: 1527

Thanks.

[vlees]

What is your gambling license?

If you are not licensed, you are violating the law!

THIS IS A SCAM AND ILLEGAL

A few governments already stated that they do not see Bitcoins as actual money and therefore it is a novelty item without any worth. So you are gambling with $0.00 bets with a payout of $0.00 per bet. Therefore, in countries that do not see Bitcoins as money, it is not covered by the regular gambling laws since there is no money lost/won.

[vlees]

Increasing the wager should never affect the chance of winning (or vice versa)

The outcome has nothing to do with the "luck" value shown.

[MPOE-PR]

From the site:

Other player's investments (including the house) will effect

Should be affect, and players'.

depending on whether you think you roll with by high or low.

Should be whether you think your roll will be high or low.

That way that each investor can check that the list includes their invested amount,

Should be That way each investor can check etc

You may withdraw your investement at any time.

investment