We're gonna miss you, Ryan. I had a great time gambling at Bustabit back in 2016. I even invested BTC in your ICO back then. Too bad not enough funds was raised back then. Anyway, I forgot to say thanks for the bonuses you sent in spite of the failed ICO.
Bustabit was great during the lull moments when coins at Poloniex weren't doing anything.
Bustabit had an ICO?
I wonder what the early investors got during those days and now that they moved on to version 2 of the site now and under new management.
I also heard they have an investment option as that bustadice put in place when they started the site.
Didnt you read it didnt raised enough fund? yes bustabit v2 now have investment option as well. Similar to bustadice , it has 10 % dilution fee to motivate people to stay longer with them. Site currently has 1700+ bitcoin and site's profit is at -99 btc. It is about the best time to put your money in before the variance swing to investor
That's not how variance works. Probability works on future events, not on events that have already happened. The probability of Busta losing another 99 BTC is the same as it was before it happened. Don't fall into that mental trap.
Yes you are correct but you need to realize that in the long run the casino always wins. Hence you can assume that if the site stays open long enough the profit will be at least at break even.
So in that scenario you are actually at an advantage to get in when it's at a negative rather than at a positive.
The idea that it's better to get in while the site is negative is a fallacy. The site has already lost the money. The chances it will gain or lose money now are more or less equal, minus the effects of the house edge. You are not "more likely" to make money while the site is in negative profit, and you are not "less likely" to lose money when the site has performed better than expected.
in short I would say it is just the law of the large numbers and every action to invest and divest according the current up or down situation is IMO gambling
