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

[canuck]

Assuming this is something posted in good faith, could it be that your friend has simply tried to withdraw more than is in the hot wallet?  Have they tried withdrawing smaller denominations?

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[ArcticWolf]

Warning: stop investing money into just-dice! It may be a scam. My friend with 7000 bitcoins invested says that dooglus has been ignoring him for over 4 days now.

I can't figure out whether:

a) your friend really has been trying to contact me and has the wrong address or his emails are going to my spam folder or something or
b) you're a Just-Dice investor who doesn't want your investment diluted by further investment or
c) you're a fan of a competing dice site and want to damage Just-Dice

Primedice is provably fair and legit. I love primedice.

Which is it?

He was also just in the AMC thread accusing Ken of being a convicted felon. Seems to be a FUDster of some sort.

Edit: for the record it wasn't our Ken

[dooglus]

Said not enough funds apparently

I wish he was online now. finally caught dooglus in chat

Deb and/or I are in the chat almost all the time.  Suggesting it's hard to "catch me in chat" is ridiculous.

As for "not enough funds", no big investor has even tried to withdraw anything recently.

I'm 99% sure this is nothing but FUD.

On the offchance that your friend exists, get him to PM me on this forum if he's having trouble with his email.

[mechs]

Post a hash signed message from your friend using the private key he sent the 7000 bitcoins from if you want to have any credibility in your accusations.  Can you post the TX ID where your friend sent him the 7000 BTC to start?

[dooglus]

No response from dooglus

I will try to get a signed message from his address that sent the coins when he comes back online. So you know this is real (the coins went straight to the cold storage)

I respond to all contact.  The big investor hasn't contacted me.  I have no such PM.

You won't be able to provide the signed message since you're making this up.

[Pale Phoenix]

Warning: stop investing money into just-dice! It may be a scam. My friend with 7000 bitcoins invested says that dooglus has been ignoring him for over 4 days now.

Stop sending smoke signals and contact dooglus via one of the the multiple communication options listed in the site's FAQ. Even a real quick "hey dooglus" in the just-dice chat room gets a response in minutes, so either your very dear friend is using carrier pigeons or you've made the whole thing up.

Back to FUD school with you, amateur.

[blackreplica]

ok I am done.

At the end when chris runs with your coins you will be sad that you're not listening to me.

kthxbye

Doog> Suppose that I try to make a withdrawal and I get a message stating that there aren't enough funds in the hot wallet for the time being, should I just leave the funds sitting there and eventually the withdrawal gets processed automatically, or do I have to manually attempt another withdrawal at a later time when hopefully there's enough funds in the hot wallet?

[Stunna]

Warning: stop investing money into just-dice! It may be a scam. My friend with 7000 bitcoins invested says that dooglus has been ignoring him for over 4 days now.

I can't figure out whether:

a) your friend really has been trying to contact me and has the wrong address or his emails are going to my spam folder or something or
b) you're a Just-Dice investor who doesn't want your investment diluted by further investment or
c) you're a fan of a competing dice site and want to damage Just-Dice

Primedice is provably fair and legit. I love primedice.

Which is it?

We wouldn't resort to something like that, you've been more than respectful to us and I gladly mirror that back. I'm curious what the case is as well though.

[dooglus]

Suppose that I try to make a withdrawal and I get a message stating that there aren't enough funds in the hot wallet for the time being, should I just leave the funds sitting there and eventually the withdrawal gets processed automatically, or do I have to manually attempt another withdrawal at a later time when hopefully there's enough funds in the hot wallet?

The current setup isn't ideal.  It makes a log entry where I can see the requested amount and target address, but I don't then make the withdrawal manually because maybe you made the same payment from another service when it failed at Just-Dice and you wouldn't want it made twice.

The hot wallet is pretty full 99% of the time, but occasionally someone empties it.

If it's empty for a long period, or you want your withdrawal more quickly, or you need to make a significant withdrawal (like more than 50 BTC at once) contact me and I'll process it manually.  I just don't like to leave large sums on the web server's wallet.

Adding the concept of "pending withdrawals" is (of course) on my to-do list.

[dooglus]

We wouldn't resort to something like that, you've been more than respectful to us and I gladly mirror that back. I'm curious what the case is as well though.

I didn't even think it was you guys.

Did you see his laughable Gambling Site Reviews By Bitcoin Detective thread?

Just-dice

Design: 0/5
Execution: 3/5
Fun: 3/5
Trustworthyness: 0

Overall: 30%

Comments: Not provably fair while they claim to be. Design is horrible, and owner is untrustworthy

lol

Unfortunately PrimeDice didn't get a review yet.  And SatoshiDice is the only site to get their URL mentioned, though they get a bad review too.

I don't know what his plan is.

[Deprived]

Why has 1% of the total invested been chosen as the max bet amount?  It seems very conservative.  Would be nice if there could be a voting mechanism (with weight of votes based on weight of % of bankroll your investment represents) where investors select what they would like the max bet to be (maybe between 0% and 5% being choices). Then the max bet can be chosen in real-time as a weighted average.  Any thoughts?

Suggest you look at the big bets in the high-score list.  There's no sign of any volume of betting where people are risking large sums of cash to win anything like the current max bet.

There may be small (losing) bets that are targetting near the max but, as an investor, increasing the max to accomodate those isn't actually tempting - it adds tons of variance for very little profit.

If there were a queue of people wanting to bet 500 BTC or 1K BTC on 50.5/49.5 rolls then I'd be all for it - but there's no sign suggesting that those exist, so no real need to cater for them.

[Pale Phoenix]

ok I am done.

At the end when chris runs with your coins you will be sad that you're not listening to me.

You made serious accusations that, if true, are easily proven, but you chose to run away when asked to back them up. Any fair minded person can see what you're doing.

Have you considered that you may be trying to cover up some deep hurt by indiscriminately shitting on other people's success? You may benefit from a thorough examination of your motivations and judgments. So why not, ya know, take a nice long swim in lake you? /Doctor Phil

[blackreplica]

Suppose that I try to make a withdrawal and I get a message stating that there aren't enough funds in the hot wallet for the time being, should I just leave the funds sitting there and eventually the withdrawal gets processed automatically, or do I have to manually attempt another withdrawal at a later time when hopefully there's enough funds in the hot wallet?

The current setup isn't ideal.  It makes a log entry where I can see the requested amount and target address, but I don't then make the withdrawal manually because maybe you made the same payment from another service when it failed at Just-Dice and you wouldn't want it made twice.

The hot wallet is pretty full 99% of the time, but occasionally someone empties it.

If it's empty for a long period, or you want your withdrawal more quickly, or you need to make a significant withdrawal (like more than 50 BTC at once) contact me and I'll process it manually.  I just don't like to leave large sums on the web server's wallet.

Adding the concept of "pending withdrawals" is (of course) on my to-do list.

Gotcha, thanks!

[Lohoris]

Dooglas: Sorry if this has been covered already, but are you operating an incorporated business? If so, in what jurisdiction is that business located (state/country)?  Also, where are you personally located?

Nice try, IRS.

Maybe you don't know him, but AFAIK Santori is a very respectable member of the bitcoin community...

Why has 1% of the total invested been chosen as the max bet amount?  It seems very conservative.  Would be nice if there could be a voting mechanism (with weight of votes based on weight of % of bankroll your investment represents) where investors select what they would like the max bet to be (maybe between 0% and 5% being choices). Then the max bet can be chosen in real-time as a weighted average.  Any thoughts?

Why should other people decide how much of my capital I am going to risk? That's insane, lol.

By the way it has already been suggested multiple times to allow single investors to increase their amount of risk.
I don't like that, but at least it makes sense, compared to that suggestion.
(no offence intended, really)

[herzmeister]

again:

The interesting thing is that the current investment model encourages investors to spread FUD to get more piece of the pie. 

 

[Taxidermista]

again:

The interesting thing is that the current investment model encourages investors to spread FUD to get more piece of the pie. 

 

Again... shrinking the pie size in the process.

[themagicdrake]

First and most important you NEED a dice game offering Satoshi or smaller bet size. Yes some sites offer smaller than Satoshi bets such as http://primedice.com/index.php?aff=70FDF79abe83 which has no minimum bet <- Yes that is an affiliate link use it or don't it's up to you. http://Just-Dice.com is another great site with Satoshi size bets (featured below). Both Prime and Just can be trusted 100%. Deposit and withdrawal is flawless, both sites work without any issues, and neither is lacking in the design department.

I had originally planned on building BTC 0.3 to BTC1 but as you'll see later I decided to shift into hyper drive with 4x bet multiplier which honestly isn't safe to bet with under BTC2. However I recommend 2.5-3x as a safer bet since it is the best option for anyone with less than a 2 bitcoin balance. 3x earns a little bit slower but you wont get insane amounts of losses in a row either.

The theory behind this system is you want to lose. Yes I know it sounds insane! It'll all become clear soon. Combining 3x multiplier with the famous Martingale betting system allows you be rewarded the more times you lose the more you will win.

Here's an example Bucky bets 10 loss bets 20 loss bets 40 loss bets 80 win  1/3 of the win covers the original bet 1/3 of the win covers all the previous bets and 1/3 is added to Bucky's balance. This is much better than betting 2x multiplier since every martingale level/loss only returns 1 betting unit to the player. If your going to risk the money might as well get paid for it right?

Where most martingale systems fail this one shines. Roulette is a classic example of a true martingale game. Red/black odd/even ect all classic martingale bets with roughly 50% odds. The problem is most people don't carry around $50,000 to cover the larger losing streaks. With Bitcoin and Satoshi size beting we can avoid going bust by betting the smallest number in hopes of a long losing streak of 10-20 (3x example more with 4x) which will earn anywhere from BTC0.001 to .1. The point is odds are in our favor 30 losses in a row will not happen on a 33% bet (again 3x example). We use these odds to play the system in reverse. The result is a lot of small somewhat insignificant wins and a few really large ones. Then we run with the money while we still have it.

This is how the night started

http://i1083.photobucket.com/albums/j382/johnny2pips/JustDice_1_zps413cd1a4.png

The idea was to start with a vary small balance and build up to a bitcoin. Instead (as you'll see below) I decided to deposit BTC1.8 ultimately risking more to make more. The idea is the same no matter what the starting balance is from BTC0.01-100.

http://i1083.photobucket.com/albums/j382/johnny2pips/Earn_Bitcoins_Part_2_zpsdd278457.png

Couple of notes.
1. I actually started with 2 then bet 2 again. This was an accident. The bet should have started with 1 then 2 ect.
2. Totally skipped number 4 when numbering note bubbles.... Doh!


This last photo is to prove I really did start with BTC1.8.

http://i1083.photobucket.com/albums/j382/johnny2pips/Earn_Bitcoins_Part_3_zps3e7f630b.png


A good portion of total bets were from when the balance was BTC0.3. So don't think it'll take 9,000 bets to make 3 bitcoins. Most of this money was made in the last 2-3000 bets. At 20-40 bets a minute it adds up fast.



Good Luck and Good Betting,
PokerBro

Edit: Working on another example

http://i1083.photobucket.com/albums/j382/johnny2pips/PrimeDice1_zpsbd5f64eb.png

Update Profit 10 bitcoins

http://i1083.photobucket.com/albums/j382/johnny2pips/PrimDicex2_zps51529e6c.png

Caution do NOT get greedy. These betting websites are setup to take your money not give you theirs.

[Fallout]

[...]. The point is odds are in our favor 30 losses in a row will not happen on a 33% bet (again 3x example). [...]

He totally understands probabilities ;P

[Deprived]

[...]. The point is odds are in our favor 30 losses in a row will not happen on a 33% bet (again 3x example). [...]

He totally understands probabilities ;P

Heh yeah - 25 losses happened, but 30 losses?  That's impossible.

But let's not tap the tank.

[dooglus]

First and most important you NEED a dice game offering Satoshi or smaller bet size. Yes some sites offer smaller than Satoshi bets such as http://primedice.com/index.php?aff=70FDF79abe83 which has no minimum bet

Caution do NOT get greedy. These betting websites are setup to take your money not give you theirs.

I enjoyed that.  Thanks for posting it.  It should come with a warning that martingale betting is -EV and will bankrupt you if you use it long enough, but other than that I liked the presentation.


Just 2 things:

1) Are you sure primedice offers bets smaller than 1 satoshi (other than betting 0 of course)

2) The sites aren't set up to take your money.  They have a 1% house edge, so in the long run they will win, but 1% is small enough that it's not unlikely that you will be considerably up for long periods of time.  In the long run you lose 1% of everything you wager, but it the short term the house edge is quite insignificant.  Note also that if you don't like the 1% house edge being against you, you can invest in the house bankroll.  Then the 1% works in your favour.