Just-Dice.com : Invest in 1% House Edge Dice Game

[DiamondCardz]

So Nakowa is playing again at JD? Didn't he say he would quit to play there?

I think the word you're looking for is "compulsive gambler".

IMHO he is not a ...........CG , he knows what he is doing

You're crazy if you truly think that.

sorry but You are one of many dreamers here in this thread IMHO (no offense), with no clue what is possible in 2013

Then please enlighten me...

As a student of gambling, and one who personally know people to have made and lose millions of dollars I heard it all already...Please share. What exactly is this "system" he has. Martingale? That's a losing one. Did he "create" it? It's a loser as well. As long as the house has an edge in the long term he losing.

The only "system" is a cheating one.

The only "system" is a cheating one.
Agree 100% and please let me add that one should never neglect the possibility of a cheat!

could You please explain what it means to be a student of gambling? You are welcome to explain it with a PM

thanks

No need.

Took classes in college. Know people in the industry. Gambling comes down to two thing: The odds and the payouts. That's it. As long as the payout is less than the odds you are taking, in the long term you are loser.

A simple example. Rolling dice. If you pick one number, the odds are 1 in 6. To be even and fair, a casino should pay out 6x your bet. But casinos are a business and instead may only pay out 4x. That payout is what gives the casino the edge. This dice game is no different, but they are giving nearly 1:1 for your money and most professional gamblers would go crazy for a 1% edge. Craps, Baccarat, Blackjacks (you can have a +1% edge if you know how to count cards and the casino owners can ask you leave) having the lowest edge are some of the popular games people play.

While Nakowa can potentially make a fortune and bankrupt JD, it's far more probable with the 1% edge the house he won't the longer he plays. But it's clear he's a compulsive gambler and as one, I know he is going to fall victim to one of the basic elements of human nature: greed.

He can't win forever, but he will continue to play. Ultimately he will lose.

Not ultimately. If JD has a bad luck streak, a 1% edge isn't going to stop them from going bankrupt. Saying that, at the moment JD isn't that deep in negative profit, so it will probably make it's profit back.

[dalexc]

So Nakowa is playing again at JD? Didn't he say he would quit to play there?

I think the word you're looking for is "compulsive gambler".

IMHO he is not a ...........CG , he knows what he is doing

You're crazy if you truly think that.

sorry but You are one of many dreamers here in this thread IMHO (no offense), with no clue what is possible in 2013

Then please enlighten me...

As a student of gambling, and one who personally know people to have made and lose millions of dollars I heard it all already...Please share. What exactly is this "system" he has. Martingale? That's a losing one. Did he "create" it? It's a loser as well. As long as the house has an edge in the long term he losing.

The only "system" is a cheating one.

The only "system" is a cheating one.
Agree 100% and please let me add that one should never neglect the possibility of a cheat!

could You please explain what it means to be a student of gambling? You are welcome to explain it with a PM

thanks

No need.

Took classes in college. Know people in the industry. Gambling comes down to two thing: The odds and the payouts. That's it. As long as the payout is less than the odds you are taking, in the long term you are loser.

A simple example. Rolling dice. If you pick one number, the odds are 1 in 6. To be even and fair, a casino should pay out 6x your bet. But casinos are a business and instead may only pay out 4x. That payout is what gives the casino the edge. This dice game is no different, but they are giving nearly 1:1 for your money and most professional gamblers would go crazy for a 1% edge. Craps, Baccarat, Blackjacks (you can have a +1% edge if you know how to count cards and the casino owners can ask you leave) having the lowest edge are some of the popular games people play.

While Nakowa can potentially make a fortune and bankrupt JD, it's far more probable with the 1% edge the house he won't the longer he plays. But it's clear he's a compulsive gambler and as one, I know he is going to fall victim to one of the basic elements of human nature: greed.

He can't win forever, but he will continue to play. Ultimately he will lose.

Not ultimately. If JD has a bad luck streak, a 1% edge isn't going to stop them from going bankrupt. Saying that, at the moment JD isn't that deep in negative profit, so it will probably make it's profit back.

Yes I made an admission that he can bankrupt JD.

As a career compulsive gambler, it's a losing profession. Sorry if I didn't make that clear.

[BitcoinLeader]

Who can I contact when I made a failed deposit? I forgot to enter my username in the TransactioN Note field.

[nicolaennio]

Guys I think I never knew what "variance" really was before looking at the swings in my profit on just-dice in these days :-D

[TheFuneral]

So now would be a wise time to invest?

then time to invest is always and asap.

[Rampion]

Guys I think I never knew what "variance" really was before looking at the swings in my profit on just-dice in these days :-D

You can also get a good idea by looking at a short timeframe network hashrate graph.

[marcovaldo]

Who can I contact when I made a failed deposit? I forgot to enter my username in the TransactioN Note field.

It should be automatic.
Pm dooglus (OP)

[integrity42]

Ok...

This should calm the nerves of all the investors... he's playing at 2x which means he wins if he goes LO and its under 49.5, or goes HI and its over 50.5

But what happens when the numbers between 49.5 and 50.5 come up?  Its a guaranteed loss. betting LO or HI wouldn't help.

eventually, after many bets, the number of times he guess HI or LO will (not including the rolls between 49.5 and 50.5) will converge to exactly 50%.   However, the losses on rolls between 49.5 and 50.5 will be permanently lost.

[nicolaennio]

Guys I think I never knew what "variance" really was before looking at the swings in my profit on just-dice in these days :-D

You can also get a good idea by looking at a short timeframe network hashrate graph.

I wasn't meaning "looking" at a graph, but being actually on the "roller coaster" ;-)

[Rampion]

Nakowa guy has been playing more than 8 hours non stop, took the site profit to +5k and then to -5k, now its again approaching 0 profit for the site. He has wagered BTC373,710.49268341 in this session only.

"I'm not a gambler" (Nakowa dixit)
 

[Rampion]

Guys I think I never knew what "variance" really was before looking at the swings in my profit on just-dice in these days :-D

You should try online poker. You ain't seen nothing yet!

Once I got AA pre-flop three times in a row, I went all in pre-flop the three times (buying in 100 BB each time), every time at least one player followed me, and I lost all three times - two times against weaker pocket pairs, one time against AQ.

What are the chances for that? I have the impression than much lower than getting lucky at J-D as Nakowa did. Variance is really huge in poker.

[broolstoryco]

3 player currently making 100btc+ bets, holy hell...

[mechs]

3 player currently making 100btc+ bets, holy hell...

Don;t you wish the max profit was 1% so we could have even higher variance?

[Rampion]

3 player currently making 100btc+ bets, holy hell...

Don;t you wish the max profit was 1% so we could have even higher variance?

Mechs, you amaze me. You do realize that the more players we have doing near max profit bets the lesser variance we have, right?

And YES, I'd like to have full Kelly again, as 99% of investors who understand how math works.

If it hurts seeing your investment going up and down, don't invest in a casino, or invest less coins in it.

[elm]

3 player currently making 100btc+ bets, holy hell...

do You really believe those are 3 different players? or maybe it is one

[geofflosophy]

3 player currently making 100btc+ bets, holy hell...

Don;t you wish the max profit was 1% so we could have even higher variance?

Yes...

[broolstoryco]

500k wagered today, in expectation we are up 5k!

[rarefied]

3 player currently making 100btc+ bets, holy hell...

Don;t you wish the max profit was 1% so we could have even higher variance?

Mechs, you amaze me. You do realize that the more players we have doing near max profit bets the lesser variance we have, right?

And YES, I'd like to have full Kelly again, as 99% of investors who understand how math works.

No way, broseph.  We won when we were at 1/4 Kelly and lost since we've been at 1/2 Kelly so LDO 1e-12 Kelly max bet will produce unlimited profits LOL :-P

[integrity42]

This is a great day for investors, as the number of max bets grows, the variance decreases.... we're seeing nak doing thousands of bets at 171... i doubt we'll see -5000 again.

at the same time, 3 whales are playing.

enhpad (43175)
berathea (161188)
FFs Ownz (105829)

All making large bets

[mechs]

3 player currently making 100btc+ bets, holy hell...

Don;t you wish the max profit was 1% so we could have even higher variance?

Yes...

My biggest problem with that is I do not think the bankroll supports so many large bets without a significant risk of ruin for the site.  The gamblers won't gamble until the bankroll is 0 afterall, they are not a computer simulation.  Between a combo of luck and fear divestments, they can break the bankroll to a very low level.  When everything "settles down", those who divested and higher profits and new investors flock back in and dilute those investors who "stuck through it".  We have a lot of invest & forget investors who rarely check the site and they are hurt by this effect significiantly.