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

[suchmoon]

So I understand that the website has not recovered since nakowa wins, 15,000btc instead of 50,000btc seems like a huge difference on 5,000,000wagered

Statistically a "recovery" like that is impossible highly unlikely. It will approach 1% eventually - once there is 5,000,000,000 wagered then the 35,000 shortfall will be a lot less significant. Might take some time though

[boumalo]

So I understand that the website has not recovered since nakowa wins, 15,000btc instead of 50,000btc seems like a huge difference on 5,000,000wagered

Ok it makes sense, it is crazy to think profit could be x3 or 4; it must be frustrating for an early investor; I would think there has been some cheating
Statistically a "recovery" like that is impossible highly unlikely. It will approach 1% eventually - once there is 5,000,000,000 wagered then the 35,000 shortfall will be a lot less significant. Might take some time though

[TwinWinNerD]

You probably make around 100BTC/month net from your fees so may not "need" to run away and create more troubles to yourself..

Where did you get 100BTC/month from?  Which fees?  From what I understand, Dooglus makes money from commision the bank (the people invested) makes.  If the website makes a profit over a week, Dooglus gets 10% commission on net investment profits if and when investments are divested.  If the website doesn't make a profit and people divest, he makes nothing (which has happened a lot).

Am I understanding this incorrectly?

He was taking about expected profit.

For 100.000 BTC wagered he receives an expected 100 BTC.
There are 5000000BTC wagered and the site is opend since June or so, thus leading to more than 100.000BTC wagered per month...

5,000,000 wagered

Profit is written at 15,000BTC so 10% of that is 1500BTC-costs, by the way the website has been that unlucky?? Only getting 0.15% of the total wagered?

It is 0.3%...

Also 1500 BTC is the absolute minimum. He earned much more, because people were daytrading nakowa like crazy. Doge-dice also rakes in some money.

[boumalo]

You probably make around 100BTC/month net from your fees so may not "need" to run away and create more troubles to yourself..

Where did you get 100BTC/month from?  Which fees?  From what I understand, Dooglus makes money from commision the bank (the people invested) makes.  If the website makes a profit over a week, Dooglus gets 10% commission on net investment profits if and when investments are divested.  If the website doesn't make a profit and people divest, he makes nothing (which has happened a lot).

Am I understanding this incorrectly?

He was taking about expected profit.

For 100.000 BTC wagered he receives an expected 100 BTC.
There are 5000000BTC wagered and the site is opend since June or so, thus leading to more than 100.000BTC wagered per month...

5,000,000 wagered

Profit is written at 15,000BTC so 10% of that is 1500BTC-costs, by the way the website has been that unlucky?? Only getting 0.15% of the total wagered?

It is 0.3%...

Also 1500 BTC is the absolute minimum. He earned much more, because people were daytrading nakowa like crazy. Doge-dice also rakes in some money.

"Commission is charged when profits are divested, or at midnight (UTC) on Sunday each week, whichever happens sooner." and if the house loses, there is no commission until it is back where it was but if people were daytrading nakowa play and were divesting after profit he made a few hundreds addtional btc at that time
Doge-dice rakes him some profit as well but he has unknown costs : servers, mistakes, cheating (probably took out of the bankroll), security (?)
We can speculate that some of the costs were paid by selling btc when it was at a lower rate

He is doing ok though and the site could be sold for tens of thousands

[dooglus]

[1500 BTC is the absolute minimum. He earned much more, because people were daytrading nakowa like crazy. Doge-dice also rakes in some money.

At launch, the commission was 1%. Later I put it up to 5% and later still, to 10%. So your 'absolute minimum' logic doesn't hold.

People day trading nakowa caused me to get a bunch of commission early, but simply meant that commissions were slightly reduced over the coming months. It was more like an advance than a bonus. As an example, an investor pulls out after a big nakowa loss, pays commission, goes back in later but times it badly and suffers a nakowa win. He's paid commission on lots of future profits already, and won't pay any more until he makes a new high.

[TheFuneral]

Doog what are you working on these days? How are you spending your time? Has this turned into more of a maintenance site now and it's not innovating or are changes coming? What's your personal plan for the future of this site?

[dooglus]

Doog what are you working on these days? How are you spending your time? Has this turned into more of a maintenance site now and it's not innovating or are changes coming? What's your personal plan for the future of this site?

Most of my time is taken up maintaining the site and supporting existing customers.

I'm making improvements when I can.  Most recently I added the ability of players to private-message each other, or to privately message whichever chat moderators are currently online (/msg and /mod commands respectively).

[boumalo]

[1500 BTC is the absolute minimum. He earned much more, because people were daytrading nakowa like crazy. Doge-dice also rakes in some money.

At launch, the commission was 1%. Later I put it up to 5% and later still, to 10%. So your 'absolute minimum' logic doesn't hold.

People day trading nakowa caused me to get a bunch of commission early, but simply meant that commissions were slightly reduced over the coming months. It was more like an advance than a bonus. As an example, an investor pulls out after a big nakowa loss, pays commission, goes back in later but times it badly and suffers a nakowa win. He's paid commission on lots of future profits already, and won't pay any more until he makes a new high.

10% seems fair

You made money when investors disinvested and didn't invest back everything and it makes sense because the investors made money so you took your commission

The site is very nice, it could be better to let the investors opt to risk up to 1% of their investments per bet

[dooglus]

The site is very nice, it could be better to let the investors opt to risk up to 1% of their investments per bet

This has been discussed a lot in this thread already, and while I've not ruled it out, I'm still not convinced it is worth allowing.

[VolanicEruptor]

what the hell happened on September 29th, 2013?  That was ~$200,000,000 wagered in a single day?  

[shitaifan2013]

what the hell happened on September 29th, 2013?  That was ~$200,000,000 wagered in a single day?  

nakowa

[TwinWinNerD]

what the hell happened on September 29th, 2013?  That was ~$200,000,000 wagered in a single day?  

nakowa

haha spot-on.

Yeah he went on a betting spree and clicked the max bets for hours.

[browep]

Have you thought about a mobile app?  Maybe for Android?  I think the Apple market place frowns on gambling apps.

[TwinWinNerD]

Have you thought about a mobile app?  Maybe for Android?  I think the Apple market place frowns on gambling apps.

Have you actually tried to use it on the mobile? it works quite well, i'd say no app is needed!

[browep]

It's good, just not out of this world great.  The UI is very App-ish, just thought an actual native app would be a cool experience ( Better handle network connectivity, intuitive screen fitting, faster loads, home screen widgets, notifications ).  Not needed but would be cool.

[TwinWinNerD]

It's good, just not out of this world great.  The UI is very App-ish, just thought an actual native app would be a cool experience ( Better handle network connectivity, intuitive screen fitting, faster loads, home screen widgets, notifications ).  Not needed but would be cool.

Yeah, but how would that even work? As an anonymous provider, dooglus will not be able to list it in any appstore. Doubt he will make this.

[browep]

Yeah, but how would that even work? As an anonymous provider, dooglus will not be able to list it in any appstore. Doubt he will make this.

You would host the app on your own cdn, certainly not as convenient but definitely do-able.  You can install off-app-market apps without too much trouble, it's just a checkbox on most phones.  That's how most apps that live in the they grey area ( porn, gambling, rooting ) operate.

[TwinWinNerD]

Yeah, but how would that even work? As an anonymous provider, dooglus will not be able to list it in any appstore. Doubt he will make this.

You would host the app on your own cdn, certainly not as convenient but definitely do-able.  You can install off-app-market apps without too much trouble, it's just a checkbox on most phones.  That's how most apps that live in the they grey area ( porn, gambling, rooting ) operate.

I know that, but then in the end only a handful people will use it, not really what dooglus wants to spend his time on, I would guess

[petrescuerz]

Both sites are currently down for maintenance. Feel free to check out the blog and work on your recipe or ask the Princess a question while you wait. As always, thank you for your patience.

http://just-dice.blogspot.ca/

Deb

Edit: Back up

[Bitcoin Betting Guide]

When I first saw JD the site profit was 0.24%, now its 0.3%. What was it at the low point after that whale won a bunch?

I am interested to know peoples real life investment returns on JD if anyone would share. Cheers