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superbit
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June 26, 2013, 05:58:22 PM |
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What about making the house edge a tiny bit better. Satoshidice has losing months over millions of bets with nearly double the advantage.
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gaba
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June 26, 2013, 06:19:16 PM |
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Yesterday I invested 3.35 BTC. Right now I have 3.32925858 BTC and declining really fast. Be careful. Never again.
!!My ID is 2336
That looks like a less than 1% loss. The site risks up to 1% of your investment on every dice roll. You realise that, right? The house edge is 1%, so lots of variance is to be expected. It's possible you'll make a quick profit, or a quick loss. The edge means that the longer you stay in, the more likely you are to make a profit. I hope it's clear that we are using your investment to back bets that players make, and that sometimes we will lose... No that loss is 1,79%. Right now is more then 6%. All that in less than 24 hours! Great job. I choose to invest not to gamble, but obviously I was wrong. Investors stay away from these site. |
LWWE6dtTUXuaq36KTCne5XqMQHfhfwpadC
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01BTC10
VIP
Hero Member
 Offline
Activity: 756
Merit: 503
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June 26, 2013, 06:25:55 PM |
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Yesterday I invested 3.35 BTC. Right now I have 3.32925858 BTC and declining really fast. Be careful. Never again.
!!My ID is 2336
That looks like a less than 1% loss. The site risks up to 1% of your investment on every dice roll. You realise that, right? The house edge is 1%, so lots of variance is to be expected. It's possible you'll make a quick profit, or a quick loss. The edge means that the longer you stay in, the more likely you are to make a profit. I hope it's clear that we are using your investment to back bets that players make, and that sometimes we will lose... No that loss is 1,79%. Right now is more then 6%. All that in less than 24 hours! Great job. I choose to invest not to gamble, but obviously I was wrong. Investors stay away from these site. Maybe learn some math. Hint: Standard deviation: http://en.wikipedia.org/wiki/Standard_deviationVariance: https://en.wikipedia.org/wiki/VarianceExpected value: http://en.wikipedia.org/wiki/Expected_valueRight now players won a little bit over expected value, site is unlucky but luck don't exist over a large sample. |
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Korbman
Legendary
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Activity: 1064
Merit: 1001
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June 26, 2013, 06:36:00 PM |
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Great job. I choose to invest not to gamble, but obviously I was wrong. Investors stay away from these site.
Are you kidding? Casinos are great investments...sure there will be ups and downs, but statistics are on your side. Given enough time and bets, the house will always gain an advantage. It's called a 'house edge' for a reason. |
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statdude
Legendary
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Activity: 1498
Merit: 1000
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June 26, 2013, 07:13:35 PM |
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Guys, dont bother. I know a lot of gamblers as a successful sports bettor myself, and they just dont get math. Nice site. I for one will be following  |
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chriswilmer
Legendary
Offline
Activity: 1008
Merit: 1000
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June 26, 2013, 07:15:40 PM |
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Guys... 11,000 BTC? I realize this is a great, low-risk, business model... but are we really that certain about the security of the server? Apologies in advance if the answer to this is obvious and I missed it.
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btc_lurker
Member
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Activity: 78
Merit: 10
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June 26, 2013, 08:09:58 PM |
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Is there some form of API for the operations regarding investment ?
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gaba
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June 26, 2013, 08:13:23 PM |
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LWWE6dtTUXuaq36KTCne5XqMQHfhfwpadC
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01BTC10
VIP
Hero Member
Offline
Activity: 756
Merit: 503
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June 26, 2013, 08:46:57 PM |
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I was referencing to this quote: I choose to invest not to gamble, but obviously I was wrong. Investors stay away from these site. It's not a gamble if you understand variance and standard deviation. It's a gamble only if you invest for a short period of time. Right now: 11 138 BTC wagered at 1% edge. 11 138 BTC(0.01) = 111.38 BTCSite is up: 104 BTCSo almost right on expected value. |
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shawshankinmate37927
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June 26, 2013, 09:43:48 PM |
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Yesterday I invested 3.35 BTC. Right now I have 3.32925858 BTC and declining really fast. Be careful. Never again.
!!My ID is 2336
You entered 3.29 as the second number, but 3.32925858 rounded to the nearest hundredth is 3.33. |
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford
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shawshankinmate37927
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June 26, 2013, 09:49:37 PM |
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Guys... 11,000 BTC? I realize this is a great, low-risk, business model... but are we really that certain about the security of the server? Apologies in advance if the answer to this is obvious and I missed it.
I believe dooglus stated somewhere that most of the coins are stored in an offline wallet. |
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford
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greatscott
Newbie
Offline
Activity: 45
Merit: 0
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June 26, 2013, 09:51:44 PM |
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Any chance you might be able to add yubikey support for 2fa?
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pikeadz
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June 27, 2013, 01:01:47 AM |
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Someone lost a huge bet somewhere lol... "site is up" went from 115 to 204 in the hour I last checked it. nice.
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01BTC10
VIP
Hero Member
Offline
Activity: 756
Merit: 503
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June 27, 2013, 01:14:28 AM |
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Someone lost a huge bet somewhere lol... "site is up" went from 115 to 204 in the hour I last checked it. nice.
frott lost a 42 BTC bet trying his hand at martingale strategy. |
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Vink
Member
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Activity: 116
Merit: 10
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June 27, 2013, 01:26:46 AM |
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moneymoneymoneymoney
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BlueCombWindow
Newbie
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Activity: 33
Merit: 0
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June 27, 2013, 01:57:40 AM |
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This excites me greatly. I have noticed dooglus as one of the best posters since visiting this site. I would almost say that I have more confidence in his integrity than anyone else on the internet. It's taking quite some willpower to not dump my entire BTC into investing in just-dice. Wow. I must think about this.
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radiumsoup
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June 27, 2013, 03:12:40 AM |
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Is there some form of API for the operations regarding investment ?
This, this - a thousand times, this. |
PGP fingerprint: 0x85beeabd110803b93d408b502d39b8875b282f86
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Trance104
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June 27, 2013, 04:37:24 AM |
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I'm addicted already. Well done!
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frott
Newbie
Offline
Activity: 38
Merit: 0
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June 27, 2013, 05:41:13 AM |
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Someone lost a huge bet somewhere lol... "site is up" went from 115 to 204 in the hour I last checked it. nice.
frott lost a 42 BTC bet trying his hand at martingale strategy. no that wasn't me, it was someone else! I lost over a long series of bets. kturner did a martingale of 10 losses at 66% chance to win which ended at 43, (.08333 .15675 .3125 .625 1.25 2.5 5.25 10.5 21 42). crazy! but yes the site is now above edge at 1.3% |
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FloatesMcgoates
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June 27, 2013, 05:48:40 AM |
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Someone lost a huge bet somewhere lol... "site is up" went from 115 to 204 in the hour I last checked it. nice.
frott lost a 42 BTC bet trying his hand at martingale strategy. no that wasn't me, it was someone else! I lost over a long series of bets. kturner did a martingale of 10 losses at 66% chance to win which ended at 43, (.08333 .15675 .3125 .625 1.25 2.5 5.25 10.5 21 42). crazy! but yes the site is now above edge at 1.3% That must suck, losing over 8000 dollars in less than a minute |
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