Buying our bankroll (Investment)

[CasinoBit]

I thought I would also announce this in the appropriate sections as well as in our official thread in the "Gambling" section, you can check it out in my signature.

Invest early enough and you will get a great return on investment without taking any of the risks of lending to new members, managing collateral or buying into some shady securities.

[kopipe]

What is the maximum win for players?
What is the house edge? (assuming 2.70% because it's single-0 roulette)
What happens if the wallet holding the BTC is hacked? Can we expect to be reimbursed by you?
Is your investment figured in to the total?

[peonminer]

Soooo... you want us to invest, but give no information on how to invest?? Just an update on your online casino's workings??

Found it on the site! Thanks!

[CasinoBit]

What is the maximum win for players?
What is the house edge? (assuming 2.70% because it's single-0 roulette)
What happens if the wallet holding the BTC is hacked? Can we expect to be reimbursed by you?
Is your investment figured in to the total?

Currently 2*36=72BTC
2.7% standard roulette house edge, no European half-back rules apply.
No, the account key is only accessible through your IP, the chances of the account getting "hacked" are about as big as someone bruteforcing your private key.
Yes, the bankroll is then used to allow for bigger bets.

[peonminer]

CasinoBit, please explain to me in detail how the investment works. Let's say, I invest 0.10 BTC today. What will my return be in 24 hours, 1 week, 1 month, 1 year? How, exactly is it calculated? I need to see numbers please. The short explanation on the website is vague.

[CasinoBit]

CasinoBit, please explain to me in detail how the investment works. Let's say, I invest 0.10 BTC today. What will my return be in 24 hours, 1 week, 1 month, 1 year? How, exactly is it calculated? I need to see numbers please. The short explanation on the website is vague.

Say you invest 0.1BTC when there is a total of 0.9BTC invested, you now own 10% of the bankroll. If a whale comes along and loses 10BTC, you now own 1.1BTC (10% of the total 11BTC) so you will be able to "Move" the funds to your main account and withdraw from there, you will always profit in the long run despite any momentary negative balances because of our house edge.

The results are also provably fair so there is no possibility of us making it seems as if someone is constantly winning.

[kopipe]

No, the account key is only accessible through your IP, the chances of the account getting "hacked" are about as big as someone bruteforcing your private key.

This is not what I asked. I asked what you would do if the CasinoBit website itself was compromised.

However, this raises an even bigger issue. Based on this explanation, if an investor has a dynamic IP address or switches ISP's they lose their investment? You might want to rethink this system and just use accounts with passwords and 2FA like Just-dice.com. I wouldn't want access to my investment/balances to be dictated by my ISP

[CasinoBit]

No, the account key is only accessible through your IP, the chances of the account getting "hacked" are about as big as someone bruteforcing your private key.

This is not what I asked. I asked what you would do if the CasinoBit website itself was compromised.

However, this raises an even bigger issue. Based on this explanation, if an investor has a dynamic IP address or switches ISP's they lose their investment? You might want to rethink this system and just use accounts with passwords and 2FA like Just-dice.com. I wouldn't want access to my investment/balances to be dictated by my ISP

You can always contact the support in this case, point is that the account is always accessible from just 1 IP and it is likely to remain so.

If the website is compromised (which is highly unlikely since we follow the highest standards of security) then you lose your investment, it obviously DOES have risks like any other investments out there so people need to be adults about this.

[peonminer]

CasinoBit, please explain to me in detail how the investment works. Let's say, I invest 0.10 BTC today. What will my return be in 24 hours, 1 week, 1 month, 1 year? How, exactly is it calculated? I need to see numbers please. The short explanation on the website is vague.

Say you invest 0.1BTC when there is a total of 0.9BTC invested, you now own 10% of the bankroll. If a whale comes along and loses 10BTC, you now own 1.1BTC (10% of the total 11BTC) so you will be able to "Move" the funds to your main account and withdraw from there, you will always profit in the long run despite any momentary negative balances because of our house edge.

The results are also provably fair so there is no possibility of us making it seems as if someone is constantly winning.

Thanks for the explanation! Much better understanding now!

[kopipe]

If the website is compromised (which is highly unlikely since we follow the highest standards of security) then you lose your investment, it obviously DOES have risks like any other investments out there so people need to be adults about this.

Thank you for your explanation. I just wanted to make sure we understood all possible risks. I can't assume things like this, because some sites like CoinLenders promise to reimburse from the personal funds of the admin in case investments are lost.

Regarding your strategy with the IP addresses and contacting support, it does sound quite secure but I think you should look into user accounts with 2FA in the future so that support is not overwhelmed by the complaints of users with dynamic IP's (this problem is only going to get worse).

I won't be investing, but good luck!

[peonminer]

If the website is compromised (which is highly unlikely since we follow the highest standards of security) then you lose your investment, it obviously DOES have risks like any other investments out there so people need to be adults about this.

I won't be investing, but good luck!

Fuck it, i'll throw 0.10 BTC at it for a day and see if I get any returns. I'll report back here!

[Kouye]

Say you invest 0.1BTC when there is a total of 100BTC invested, you now own 0.1% of the bankroll. If a whale comes along and loses 10BTC, you now own 0.11BTC (0.1% of the total 110BTC) so you will be able to "Move" the funds to your main account and withdraw from there, you will always profit in the long run despite any momentary negative balances because of our house edge.

Fixed that for you.
Total invested BTC looked like a low estimate, or at least I hope for you.
Or do I really hope ? Hmmm... Maybe not.

[CasinoBit]

Say you invest 0.1BTC when there is a total of 100BTC invested, you now own 0.1% of the bankroll. If a whale comes along and loses 10BTC, you now own 0.11BTC (0.1% of the total 110BTC) so you will be able to "Move" the funds to your main account and withdraw from there, you will always profit in the long run despite any momentary negative balances because of our house edge.

Fixed that for you.
Total invested BTC looked like a low estimate, or at least I hope for you.
Or do I really hope ? Hmmm... Maybe not.

Currently the total invested is at ~17BTC, so you can buy most of the bankroll for pretty cheap.

[CasinoBit]

If the website is compromised (which is highly unlikely since we follow the highest standards of security) then you lose your investment, it obviously DOES have risks like any other investments out there so people need to be adults about this.

Thank you for your explanation. I just wanted to make sure we understood all possible risks. I can't assume things like this, because some sites like CoinLenders promise to reimburse from the personal funds of the admin in case investments are lost.

Regarding your strategy with the IP addresses and contacting support, it does sound quite secure but I think you should look into user accounts with 2FA in the future so that support is not overwhelmed by the complaints of users with dynamic IP's (this problem is only going to get worse).

I won't be investing, but good luck!

Thanks!

If the website is compromised (which is highly unlikely since we follow the highest standards of security) then you lose your investment, it obviously DOES have risks like any other investments out there so people need to be adults about this.

I won't be investing, but good luck!

Fuck it, i'll throw 0.10 BTC at it for a day and see if I get any returns. I'll report back here!

You are an early investor so chances are you're going to more than double your funds.

[peonminer]

If I double my funds, does that still accrue for house investment?

[CasinoBit]

If I double my funds, does that still accrue for house investment?

You need to "Move" the investment to your account when you have made a good profit.

[peonminer]

If I double my funds, does that still accrue for house investment?

You need to "Move" the investment to your account when you have made a good profit.

Why? Why not leave it in the investment account to continue growing? Here in lies the question. If I make a profit, does the 'initial investment'+'profit'='accrued investment amount' OR will I only make profit from the 'initial investment'

[CasinoBit]

If I double my funds, does that still accrue for house investment?

You need to "Move" the investment to your account when you have made a good profit.

Why? Why not leave it in the investment account to continue growing? Here in lies the question. If I make a profit, does the 'initial investment'+'profit'='accrued investment amount' OR will I only make profit from the 'initial investment'

You can leave it invested as well and it will grow further, if a whale comes along and wins 50BTC you will be put into a negative balance, you will be able to wait out the negative balance and withdraw when it is positive again.

[peonminer]

So, if the balance goes negative, I will still have my % of stake?

[CasinoBit]

So, if the balance goes negative, I will still have my % of stake?

% of the negative stake.