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

[Lohoris]

To be candid, Dooglus didn't ask anyone for advice on the matter.

He stated that his solution was to pay out of his own pocket, and there is no better way to learn a lesson than that kind of pain.

This will surely instigate him to improve his withdrawal procedure or programming if relevant.

True, but still I think that operating as a fractional reserve would actually be much better for him: going on as he is now apparently is quite stressful...

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[mechs]

If they do that, there should be a minimum amount to get in the investor chat room like 5 BTC invested.

[Pale Phoenix]

If they do that, there should be a minimum amount to get in the investor chat room like 5 BTC invested.

I hate to be elitist but I think you're right. I'm certainly getting chatroom fatigue from the drive-by trolls.

[HurtK]

If they do that, there should be a minimum amount to get in the investor chat room like 5 BTC invested.

great idea but don't make it just for investors, make it also for regular players. something like min X BTC invested and wagered combined needed for access to that chat room

also i think that dooglus should have different color in chat

[wolverine.ks]

If they do that, there should be a minimum amount to get in the investor chat room like 5 BTC invested.

great idea but don't make it just for investors, make it also for regular players. something like min X BTC invested and wagered combined needed for access to that chat room

also i think that dooglus should have different color in chat

i like the colored names idea.

maybe there should be a vip lounge chat, or a whole series of chats. could you integrate coinchat or something like that? anyone could make their own room, and dooglus sets up a few invite only for specific groups...

[dooglus]

To be candid, Dooglus didn't ask anyone for advice on the matter.

He stated that his solution was to pay out of his own pocket, and there is no better way to learn a lesson than that kind of pain.

This will surely instigate him to improve his withdrawal procedure or programming if relevant.

True, but still I think that operating as a fractional reserve would actually be much better for him: going on as he is now apparently is quite stressful...

I could have kept quiet about the whole thing, and left the cold wallet 1300 coins short.  People may not have noticed the shortfall in the cold wallet.  Any suspicion that I'm running a fractional reserve would lead to a bank run, since nobody wants to be the last man in.  That's no good for anyone.

But I don't want to be dishonest.  I fucked up, and so I admit it.  And I made good on the mistake by paying for it.  I'm just glad it wasn't bigger or I wouldn't have the coins to cover it.  This was a significant amount of my coins that I just lost.

[wolverine.ks]

I think commision should be raised until most of the losses are covered.

20% of 0 is still 0.  We have a long way to go before most investors will pay any commission again.

should there be a commission on the original investment then? JD takes a commission when investments are at a loss?

[Rannasha]

I think commision should be raised until most of the losses are covered.

20% of 0 is still 0.  We have a long way to go before most investors will pay any commission again.

should there be a commission on the original investment then? JD takes a commission when investments are at a loss?

JD only takes commission on profits from investments. If you divest at a loss, no commission is paid.

[wolverine.ks]

JD only takes commission on profits from investments. If you divest at a loss, no commission is paid.

right, im asking if they should change this policy and take a commission no matter what...

[bobboooiie]

Well errors happen, only bad thing about this is that the whale is 99.9% not going to play again.

[FloatesMcgoates]

JD only takes commission on profits from investments. If you divest at a loss, no commission is paid.

right, im asking if they should change this policy and take a commission no matter what...

How do you take commission on a loss? Do you even know what you are saying?

[dooglus]

Well errors happen, only bad thing about this is that the whale is 99.9% not going to play again.

I can think of about 1300 other bad things...

[Rannasha]

JD only takes commission on profits from investments. If you divest at a loss, no commission is paid.

right, im asking if they should change this policy and take a commission no matter what...

How do you take commission on a loss? Do you even know what you are saying?

I could imagine commission-models where a small percentage of the full amount is charged when divesting. Or a really small percentage of the invested amount as weekly fee. Or even a small percentage of all bets won by the house (say 1% for the site, 99% to the investors).

Plenty of possible schemes to charge a commission regardless of the house results.

[bobboooiie]

Well errors happen, only bad thing about this is that the whale is 99.9% not going to play again.

I can think of about 1300 other bad things...

Yep sucks for you doogie, but you build the most popular dice game as of now in under 1 month. I am pretty sure this will make you much more than those 1300 coins eventually. You didnt think it would be that easy to succeed, did you ? You also once again proven how fair and trustworthy you are. And we all know reputation like that in bitcoin world is nothing that can be measured by any amount of coins.

[mechs]

If they do that, there should be a minimum amount to get in the investor chat room like 5 BTC invested.

I hate to be elitist but I think you're right. I'm certainly getting chatroom fatigue from the drive-by trolls.

I am just tired of people who may have little to no investment screaming how we should have a bigger payout, etc etc when they have no real skin in the game.

[mechs]

JD only takes commission on profits from investments. If you divest at a loss, no commission is paid.

right, im asking if they should change this policy and take a commission no matter what...

How do you take commission on a loss? Do you even know what you are saying?

I could imagine commission-models where a small percentage of the full amount is charged when divesting. Or a really small percentage of the invested amount as weekly fee. Or even a small percentage of all bets won by the house (say 1% for the site, 99% to the investors).

Plenty of possible schemes to charge a commission regardless of the house results.

Problem with that is we need investors now more than ever and that would just scare new ones away. It may even scare the old ones - I am not sure I would stay around if on top of losing my investment by the house losing, I lose further to commission.  This is not a hedge fund afterall.

[bobboooiie]

If they do that, there should be a minimum amount to get in the investor chat room like 5 BTC invested.

I hate to be elitist but I think you're right. I'm certainly getting chatroom fatigue from the drive-by trolls.

I am just tired of people who may have little to no investment screaming how we should have a bigger payout, etc etc when they have no real skin in the game.

I hate people who has something invested and spam all the threads,chat and whatnot instead making point in one post. Yes I mean you. Divest already you seems to be shitting bricks all over the place when the whales are playing .

[FloatesMcgoates]

JD only takes commission on profits from investments. If you divest at a loss, no commission is paid.

right, im asking if they should change this policy and take a commission no matter what...

How do you take commission on a loss? Do you even know what you are saying?

I could imagine commission-models where a small percentage of the full amount is charged when divesting. Or a really small percentage of the invested amount as weekly fee. Or even a small percentage of all bets won by the house (say 1% for the site, 99% to the investors).

Plenty of possible schemes to charge a commission regardless of the house results.

That's a fee, not a commission. If dooglus wants to go ahead and start charging fees for people to invest in just-dice, then it is safe to say a large number of investors will pull out.

[SpaceJelly]

I will donate 20% of my overall investment gains, up to (1300-120)BTC * my percentage invested at the time of the error.  Thus I don't take a terrible immediate hit for an error that was not my fault, and Dooglus has an incentive to keep the site humming along so we can earn his coins back. 

Perhaps other investors could take a similar approach? As profits roll-in in the future, carve a slice off until your 'ill-gains' are balanced out.

Ultimately, we don't want to kill the golden goose that is Just-Dice.   And I trust that Doog will take steps to ensure errors like this don't happen again.

That's what I suggested in chat. Add a box to check on the investment settings so we all share the pain for a bit. I'm up for that.

[dooglus]

Plenty of possible schemes to charge a commission regardless of the house results.

I think the model in place is the most fair and predictable.  You only pay if you win, and only once per unit profit.  Anything worse would scare of investment.

If I need to take more commission, I'll simply increase the rate, and trust that profits will come in the longer term.  It's not like I have an expensive lifestyle to support - I spend every waking hour on JD.  There's no time for hookers and blow.  And no availability.  We don't even get cell service here.