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

[dooglus]

One of the best things about JD is that their is no person who will kick you out when you win too much.

Except the max bet gets changed if you win too much

That actually works in your favour. You won a bunch and then the casino reduces the max bet so you can't lose it all back too quickly...

Also, it only happened once - the maximum player profit per roll was reduced from 1% of the total bankroll to 0.5% (via 0.25% for a couple of days) when it became clear that 1% was too high.

[PacoMartin]

Yeah, I thought that was a little odd too. It wasn't me taking his coins after all.

It's the dark side of the gambler's fallacy. Some people think they are 'due' and if it doesn't happen they think someone is to blame.

In general you can never eliminate the variance completely unless you turn it into a carnival game. Perhaps if you do it again you can raise the house edge and reward the investors who stay in for the long haul and don't run when there is a big downturn. With a bigger HE there is also less variance. But if you can't kick yourself for not having a 2% HE, as the threat never goes away.

Look at Blackjack. I know that if you use basic strategy you can get under 1% house edge with most games, but many people don't use basic strategy. But more importantly people don't play their bankroll through one time, they gamble repeatedly with their winnings.

Nevada statewide made 11.87% of the money put down on it's 2,703 blackjack tables winning $1.084 billion in the last 12 months. But even with that kind of advantage, you still have whales that turn individual casinos upside down once in a while.

[boumalo]

Yeah, I thought that was a little odd too. It wasn't me taking his coins after all.

It's the dark side of the gambler's fallacy. Some people think they are 'due' and if it doesn't happen they think someone is to blame.

In general you can never eliminate the variance completely unless you turn it into a carnival game. Perhaps if you do it again you can raise the house edge and reward the investors who stay in for the long haul and don't run when there is a big downturn. With a bigger HE there is also less variance. But if you can't kick yourself for not having a 2% HE, as the threat never goes away.

Look at Blackjack. I know that if you use basic strategy you can get under 1% house edge with most games, but many people don't use basic strategy. But more importantly people don't play their bankroll through one time, they gamble repeatedly with their winnings.

Nevada statewide made 11.87% of the money put down on it's 2,703 blackjack tables winning $1.084 billion in the last 12 months. But even with that kind of advantage, you still have whales that turn individual casinos upside down once in a while.

You can eliminate variance; in some states the state owned lottery redistribute 20-40% of the sums played for scratch tickets and there is a fixed number of winning tickets : for exemple one small win per 30 tickets and one big win per 300tickets

[infested999]

Yeah, I thought that was a little odd too. It wasn't me taking his coins after all.

It's the dark side of the gambler's fallacy. Some people think they are 'due' and if it doesn't happen they think someone is to blame.

In general you can never eliminate the variance completely unless you turn it into a carnival game. Perhaps if you do it again you can raise the house edge and reward the investors who stay in for the long haul and don't run when there is a big downturn. With a bigger HE there is also less variance. But if you can't kick yourself for not having a 2% HE, as the threat never goes away.

Look at Blackjack. I know that if you use basic strategy you can get under 1% house edge with most games, but many people don't use basic strategy. But more importantly people don't play their bankroll through one time, they gamble repeatedly with their winnings.

Nevada statewide made 11.87% of the money put down on it's 2,703 blackjack tables winning $1.084 billion in the last 12 months. But even with that kind of advantage, you still have whales that turn individual casinos upside down once in a while.

You can eliminate variance; in some states the state owned lottery redistribute 20-40% of the sums played for scratch tickets and there is a fixed number of winning tickets : for exemple one small win per 30 tickets and one big win per 300tickets

Many game that depend on RNG remove the "randomness" from it. For example in DotA games (LoL or DotA 2) if you have a spell that has a 50% chance to stun someone, it's not exactly 50%.

For example, Slardar's Bash has a 25% probability to Stun the target. On the first attack, however, it will only have an ~8.5% probability to bash; this is its PRD constant C. Each subsequent attack without a bash increases this probability by 8.5%. So on the second attack, the chance is 17%, on the third it is 25.5%, etc. After a bash procs, the probability resets to 8.5% for the next attack. These probabilities average out so that, over a moderate period of time, Bash will proc very nearly 25% of the time.

- DotA 2 Pseudo-random distribution

[savaged]

Many game that depend on RNG remove the "randomness" from it. For example in DotA games (LoL or DotA 2) if you have a spell that has a 50% chance to stun someone, it's not exactly 50%.

For example, Slardar's Bash has a 25% probability to Stun the target. On the first attack, however, it will only have an ~8.5% probability to bash; this is its PRD constant C. Each subsequent attack without a bash increases this probability by 8.5%. So on the second attack, the chance is 17%, on the third it is 25.5%, etc. After a bash procs, the probability resets to 8.5% for the next attack. These probabilities average out so that, over a moderate period of time, Bash will proc very nearly 25% of the time.

- DotA 2 Pseudo-random distribution

That is entirely due to how they decided to implement their system and nothing to do with "RNG".

I assume the real reason it's setup that way is because players in a competitive game don't want "luck" involved or at the very least want it's effects to be minimized as much as possible, such as the system you quoted.

[Timetwister]

Exinvestors, have you found any other good investment in bitcoins?

It's really sad that the government has stopped such a brilliant idea.

[ranlo]

Exinvestors, have you found any other good investment in bitcoins?

It's really sad that the government has stopped such a brilliant idea.

I'd personally like if we could get information on what's going on. The last things posted were almost two months ago:

"Doog and I are working on alternatives for the sites and will keep you posted as to all progress being made."

"Doog is going to set the site up as a 'play coin' venue  until we have things sorted out. Please come and visit with us there, where we will try to remain active and available for questions and concerns."

Haven't heard anything on either of these fronts.

[suchmoon]

Exinvestors, have you found any other good investment in bitcoins?

It's really sad that the government has stopped such a brilliant idea.

I'd personally like if we could get information on what's going on. The last things posted were almost two months ago:

"Doog and I are working on alternatives for the sites and will keep you posted as to all progress being made."

"Doog is going to set the site up as a 'play coin' venue  until we have things sorted out. Please come and visit with us there, where we will try to remain active and available for questions and concerns."

Haven't heard anything on either of these fronts.

Dooglus is busy Creating Everything (tm)

https://bitcointalk.org/index.php?topic=716312.msg8343746#msg8343746

tldr: DiceBitco.in seems to be the place where there is some good action going on. It's still early days so proceed with caution.

[theskillzdatklls]

Exinvestors, have you found any other good investment in bitcoins?

It's really sad that the government has stopped such a brilliant idea.

Stole these words from me

[MilkyLep]

Let the guy have the rest and relaxation he earned after a tough dedicated year to JD, investors and gamblers. Doog is always around and (seemingly) always happy to talk and educate. Time will tell if JD reopens, but for now, theres no reason to rush into anything.

I have nothing but the utmost repsect for dooglus as a person and for what he's helped accomplish for bitcoin as a protocol, a currency and a community.

[waterpile]

C'mon Dooglus please think of a way to continue your business 

[romerun]

Stop investing, keep hoarding might be the best strategy for the next year, doog suggests.

[conspirosphere.tk]

Exinvestors, have you found any other good investment in bitcoins?

For the moment I keep my 900K doggiecoins working at: https://www.dogedice.me
plus 1.6 btc invested at https://dicebitco.in
but I would feel safer keeping them in doog's hands

[Timetwister]

https://bitcointalk.org/index.php?topic=716312.msg8343746#msg8343746

tldr: DiceBitco.in seems to be the place where there is some good action going on. It's still early days so proceed with caution.

I'm a bit tired of random unknown people looking for investors, I already had enough with Everydice. I'll read that thread anyway.

[willBTC]

why dooglus signature about https://dicebitco.in/   .

it's strange...

[Hfleer]

why dooglus signature about https://dicebitco.in/   .

it's strange...

Because he participates in their signature promotion plus is an investor in their site?

[AcoinL.L.C]

https://bitcointalk.org/index.php?topic=716312.msg8343746#msg8343746

tldr: DiceBitco.in seems to be the place where there is some good action going on. It's still early days so proceed with caution.

I'm a bit tired of random unknown people looking for investors, I already had enough with Everydice. I'll read that thread anyway.

DiceBitco.in has over 3550BTC in its BR, and they signed a wallet showing they personally own over 200BTC of it. They also run the largest LTC dice site and have for several months, I would say they are more trust worthy than just about any other active casino site.

[🏰 TradeFortress 🏰]

DiceBitco.in has over 3550BTC in its BR, and they signed a wallet showing they personally own over 200BTC of it. They also run the largest LTC dice site and have for several months, I would say they are more trust worthy than just about any other active casino site.

No. Trust is not built by holding large amounts of money. Trust is only built by returning large amounts of money.

If someone holds 100k BTC for months, would you consider them trustworthy? You shouldn't, because simply holding BTC gives no indication of if they will actually let everyone withdraw when people decide to withdraw. dooglus is so far the only one that is trustworthy.

[Dabs]

Send me some money, then I'll return it to you.

[AcoinL.L.C]

DiceBitco.in has over 3550BTC in its BR, and they signed a wallet showing they personally own over 200BTC of it. They also run the largest LTC dice site and have for several months, I would say they are more trust worthy than just about any other active casino site.

No. Trust is not built by holding large amounts of money. Trust is only built by returning large amounts of money.

If someone holds 100k BTC for months, would you consider them trustworthy? You shouldn't, because simply holding BTC gives no indication of if they will actually let everyone withdraw when people decide to withdraw. dooglus is so far the only one that is trustworthy.

They have been running a LTC game for several months, which has repaid users. Would you consider yourself a trustworthy person since you stole 4100BTC? I never said DiceBitco.in is trustworthy, I simply said that they are more trust worthy than most other casino's.